Jackup Rig definition

Jackup Rig means (a) each of the Panamanian flag vessels the Topaz Driller, the Emerald Driller, the Sapphire Driller and the Aquamarine Driller and (b) any other mobile offshore drilling unit hereafter acquired by any of the Company and the Guarantors, the legs of which can be lowered to the seabed from the hull or platform thereof.
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Jackup Rig means any mobile offshore drilling unit, the legs of which can be lowered to the seabed from the hull or platform thereof.
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Jackup Rig means either or both of Rig 3 and/or Rig 4 (as the context requires).
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Examples of Jackup Rig in a sentence

  • The term “Sale of Assets” shall refer to a transaction or series of transactions consummated prior to the Newco Transaction Date in which the Company sells or otherwise transfers to one or more third-parties unaffiliated with the Company all or substantially all of the Mat Jackup Rig Assets.

  • The term “Purchaser” means one or more third-parties unaffiliated with the Company which acquire the Mat Jackup Rig Assets in a Sale of Assets.

  • The term “Mat Jackup Rig Assets” means the 21 mat-supported jackup rigs owned directly or indirectly by Pride International, Inc.

  • The term “Newco” means the entity formed to hold, directly or indirectly, all or substantially all of the Mat Jackup Rig Assets.


More Definitions of Jackup Rig

Jackup Rig means (a) each of the Panamanian flag vessels the Topaz Driller, the Emerald Driller, the Sapphire Driller and the Aquamarine Driller and
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Jackup Rig means (a) the Topaz Driller and the Soehanah and (b) any other mobile offshore drilling unit acquired or owned by the Company or a Guarantor, the legs of which can be lowered to the seabed from the hull or platform thereof.
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Jackup Rig means (a) each of the Topaz Driller, the Emerald Driller, the Sapphire Driller and the Aquamarine Driller and (b) any other mobile offshore drilling unit acquired or owned by the Company or a Guarantor (including the Jackup Rig known as the Soehanah), the legs of which can be lowered to the seabed from the hull or platform thereof.
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Related to Jackup Rig

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