Newbuild Contracts definition

Newbuild Contracts means, collectively, the DS-13 Contract and the DS-14 Contract (each as defined in the Newbuild Assumption Term Sheet), as modified by Supplemental Agreement No. 7 for the DS-13 Contract and the DS-14 Contract executed by the Newbuild Debtors and the Shipyard on February 26, 2021.
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Newbuild Contracts means, collectively, the DS-13 Contract and the DS-14 Contract (each as defined in the Newbuild Assumption Term Sheet), as modified by the Assumption Term Sheet and that certain Seventh Supplemental Agreement, which shall be filed with the Plan Supplement.
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Newbuild Contracts means, collectively:
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Examples of Newbuild Contracts in a sentence

  • On or prior to the Effective Date and assumption of the Newbuild Contracts, the Newbuild Debtors shall transfer their owned equipment as set forth in the Newbuild Assumption Term Sheet free and clear of all Liens and Claims to the Shipyard.

  • If the Shipyard votes in favor of the Plan, the Newbuild Contracts shall be assumed under section 365(a) of the Bankruptcy Code effective as of the Effective Date of the Plan and receipt by the Shipyard of the consideration set forth in the Plan.

  • If the Shipyard does not vote in favor of the Plan, the effective date of rejection of the Newbuild Contracts shall be the Effective Date of the Plan unless otherwise agreed to by the Shipyard and the Newbuild Debtors with the consent of the Required Consenting Creditors.


More Definitions of Newbuild Contracts

Newbuild Contracts means the certain contracts for the construction and delivery of rigs bearing Hull Nos. 3619 and 2622 between the Newbuild Debtors and the Shipyard.
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Newbuild Contracts means the certain contracts for, if applicable, (b) the construction and delivery of rigs bearing Hull Nos. 3619 and 2622 betweentermination of Atwood Oceanics Pacific Limited’s guarantee on the Newbuild DebtorsContracts, and (c) any fees and expenses incurred by the Shipyard in connection with these chapter 11 cases.
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Newbuild Contracts means, collectively: (a) that certain Contract for the Construction and Delivery of Drillship (Hull No. 3623), dated as of July 12, 2013, as may have been amended from time to time, by and between Seadrill Aquila Ltd. as Buyer and DSME as Builder; (b) that certain Contract for the Construction and Delivery of Drillship (Hull No. 3624), dated as of July 12, 2013, as may have been amended from time to time, by and between Seadrill Libra Ltd. as Buyer and DSME as Builder; (c) that certain Contract for the Construction and Sale of Drillship Hull No. 2100, dated as of July 12, 2013, as may have been amended from time to time, by and between Seadrill Draco Ltd. and SHI; (d) that certain Contract for the Construction and Sale of Drillship Hull No. 2101, dated as of July 12, 2013, as may have been amended from time to time, by and between Seadrill Dorado Ltd. and SHI; and (e) a document, contract, agreement, or Executory Contract ancillary to any of the foregoing, including, but not limited to, any guarantee executed by Seadrill Limited of any of the foregoing, letters of confirmation, change orders, variation orders, or letters of credit.
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