Foramer definition
Examples of Foramer in a sentence
Upon its organization or as soon thereafter as permitted by applicable law, the F-F Subsidiary shall have the corporate name "Forasub B.V." At the Closing, Pride will purchase from Forasol- Foramer all of the issued and outstanding shares of capital stock of the F-F Subsidiary (the "Purchased Shares").
Foramer shall provide to the Construction Manager such personnel (the Technical Personnel) as are requested by the Construction Manager to assist the Construction Manager in relation to the construction of the Vessel as a drilling or workover unit and the fulfilment of the Construction Managers obligations to the Owner as set out in the Construction Management Agreement.
All information related to this Agreement, regardless of whether such information concerns Formaritima, its clients, its associated companies, or its contractors, shall be treated as confidential and shall not be divulged by Foramer to any third party without the prior written consent of Formaritima.
Foramer shall promptly provide each other (or their respective counsel) copies of all filings made by such party with the SEC or any other Governmental Entity in connection with this Agreement and the transactions contemplated hereby.
In particular and depending of the regulation for employing the French personnel or any of Foramer personnel, extra charge may be imposed when changing of zone of operations or lay off charges may have to be paid when changing of zone of operations or when a Charter terminates.
No Foramer personnel shall be deemed to be employees, either temporary or permanent of Formaritima and shall at all times be deemed employed by Foramer.
Any taxes or charges incurred by Foramer in connection with its duties and obligations hereunder whilst supplying the Technical Services shall be for the account of Foramer.
Formaritima is a 50/50 joint venture company set up by Foramer of France and Maritima Petroleo e Engenharia Ltda of Brazil (hereinafter referred to as "Maritima") for the provision of services to operate drilling and workover rigs.
The Construction Manager reserves the right to audit the activities of Foramer and/or the Technical Personnel as deemed necessary and/or appropriate by the Construction Manager, in order to check the contents and compliance with the terms herein.
Foramer shall keep and cause its Technical Personnel, its contractor(s) and subcontractor(s) to keep the books, payrolls, receipts, vouchers, financial records, personnel records and any document related to the work thereunder and required for administration purposes for the term of the Agreement and for a limited period of two (2) years after termination hereof.