PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • September 1st, 2016 • Hercules Offshore, Inc. • Drilling oil & gas wells • London
THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into effective as of this 31st day of August, 2016 (the “Execution Date”), by and between HERCULES OFFSHORE MIDDLE EAST LTD., an exempted company organized under the laws of the Cayman Islands and having its office at P.O. Box 309, Ugland House, South Church Street, Grand Cayman KY1-1104, Cayman Islands (“Seller”), and ADVANCED ENERGY SYSTEMS (ADES) S.A.E., a company incorporated in the Arab Republic of Egypt, with its office at 66 Zahret El Maadi Tower (Floor 36), Cornish El Nile, Maadi, Cairo, Egypt (“Buyer”). Buyer and Seller may be referred to herein individually as a “Party” and collectively as the “Parties”. For purposes of this Agreement, the term “Affiliates” shall mean with respect to either Party hereto, any other company or legal entity which (i) is owned or controlled by such Party, (ii) owns or controls such Party, or (iii) is under common ownership or control of such Party.
