Ocean Rig definition

Ocean Rig means Ocean Rig UDW Inc. a corporation incorporated in The ▇▇▇▇▇▇▇▇ Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, the ▇▇▇▇▇▇▇▇ Islands;

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Ocean Rig means Ocean Rig UDW Inc. a corporation incorporated in the Republic of the Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, the Marshall Islands.

Ocean Rig means Ocean Rig UDW Inc. (previously named Primelead Shareholders Inc.) a corporation incorporated in the ▇▇▇▇▇▇▇▇ Islands with its registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇. Ocean Rig Guarantee means the guarantee and indemnity from Ocean Rig dated on or about the date of the Amendment and Restatement Agreement, and in form and substance satisfactory to the Security Trustee (acting on the instructions of all of the Lenders), pursuant to which Ocean Rig guarantees and indemnifies the Finance Parties in respect of the obligations of the Owner under the Finance Documents during the Pre-Completion Period and the Post-Completion Period.

Examples of Ocean Rig in a sentence

• Ocean Rig Cayman Management Services SEZC Limited 3rd Floor Flagship Building Harbour Drive, Grand Cayman Cayman Islands KY1-1003 Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇ Email: ▇▇@▇▇▇▇▇-▇▇▇.▇▇▇ with a copy to: ▇▇▇▇▇▇ & ▇▇▇▇▇▇ LLP ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇▇ ▇.

• It is, or it becomes, unlawful for the Owner, the Bareboat Charterer or Ocean Rig to perform any of its obligations under the terms of the Transaction Documents.

• The provisions of Clauses 3 (Guarantee and Indemnity) to 6 (Payments) inclusive and Clause 8 (Undertakings) (other than Clauses 8.6 (Consents) and 8.7 (Maintenance of Security Interests)) shall only become effective upon, and shall become effective automatically upon, a breach by Ocean Rig of any of its financial covenants as set out in clause 7.14 of the Ocean Rig Guarantee (as tested in accordance with clause 7.15 of the Ocean Rig Guarantee).

• For the avoidance of doubt, Ocean Rig UDW Inc., as the lender under each Third Lien Credit Agreement, may, without the consent of the First Lien Collateral Agent and the Second Lien Collateral Agent, reduce, cancel and/or extinguish amounts owed to it under each Third Lien Credit Agreement.

• The Borrower will hold the legal title to, and the entire beneficial interest in, the Ocean Rig Shares and the Earnings free from all Security Interests other than Permitted Security Interests.

• The Loans shall be secured by the Ocean Rig Shares and the Rapallo in accordance with the Security Documents.

• By: Name: Title: TRANSOCEAN OCEANUS HOLDINGS LIMITED By: Name: Title: TRANSOCEAN OCEANUS LIMITED By: Name: Title: This VOTING AND SUPPORT AGREEMENT (this “Agreement”), is dated as of [], 2018, by and among Transocean Ltd., a Swiss corporation (“Parent”), and the shareholders of Ocean Rig UDW Inc., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Company”), listed on the signature pages hereto (each, a “Shareholder” and collectively, the “Shareholders”).

• At all times, the Owner shall (and shall procure that Ocean Rig and the Bareboat Charterer shall) promptly advise the Facility Agent of any Charter Termination Event or Bareboat Charter Termination Event of which it or they become aware.

• For purposes of this Section 8.01, the "Conversion Price" of one share of Conversion Common Stock shall be equal to the average of the VWAP of the Ocean Rig Common Stock or the Borrower's common stock, as applicable, for the five (5) consecutive Trading Days immediately prior to the date of notice of any such conversion (or, if no sales take place on any such Trading Day, the average of the closing bid and asked prices on such Trading Day), plus a premium of 10% of such 5-day average VWAP.

• The Owner shall procure at all times during the Security Period that Ocean Rig will remain publicly listed on NASDAQ.