Rig 3 definition

Rig 3 means the Rig described as such in Schedule 2 (Borrowers, Guarantors and Collateral Rigs).
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Rig 3 means the Baker Pacific Class 400 jack-up rig named “Fortius” with IMO number 9680970 and held by Rig Owner 3.
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Rig 3 means the ▇▇▇▇▇ Marine Pacific Class 375 ultra-premium jackup drilling rig hull number P2020, including the related machinery, equipment and gear, including without limitation any OFE.
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Examples of Rig 3 in a sentence

  • AOD Facility Agreement The US$360,000,000 senior secured credit facility agreement originally dated 9 April 2013 between, amongst others, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited as borrowers and ABN AMRO Bank N.V. as agent.

  • VIN# ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ 11 Rig 3 Workover rig: ▇▇▇▇▇▇ 550, year 2009 Serial # RA532486, 104 Mast-250K lb pull.

  • Secured Facility Various amendments will be made to the Secured Facility Agreements, including Agreements the US$360,000,000 senior secured credit facility agreement originally dated 9 April 2013 between, amongst others, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited as borrowers and ABN AMRO Bank N.V. as agent (the “AOD Facility Agreement”).

  • Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make up to four Term Tranche 3 Advances to Borrower 3 from time-to-time on any Business Day during the period from the Effective Date until the Rig 3 Delivery Date in an aggregate amount up to but not to exceed the lesser of (A) the amount of its Term Tranche 3 Commitment and (B) such Lender’s Pro Rata Share of 36% of the Total Cost of Rig 3.

  • Principal payments made after the Rig 3 Delivery Date may not be reborrowed.

  • We hereby acknowledge receipt of a notice of pledge of shares in Songa Offshore Rig 3 AS dated [ ] from Songa Offshore SE (the "Notice").

  • Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Top-Up Tranche 3 Advances to Borrower 3 from time-to-time on any Business Day during the period from the Rig 3 Delivery Date to the Rig 3 Maturity Date in an aggregate amount up to but not to exceed the lesser of (A) the amount of its Top-Up Tranche 3 Commitment and (B) 9% of the Total Cost of Rig 3.

  • Each Term Tranche 3 Borrowing shall correspond to the applicable installment of the Contract Price (as defined in the Rig 3 Construction Contract) as set forth on Schedule 2.01.

  • The aggregate principal amount of the Term Tranche 3 Advances shall be payable by Borrower 3 in quarterly installments equal to $2,000,000 on each of the first twenty-eight (28) consecutive quarterly Payment Dates commencing six (6) months after the Rig 3 Delivery Date.

  • Any remaining outstanding Term Tranche 3 Advances shall be paid in full by Borrower 3 on the Rig 3 Maturity Date.