Rig Accessories definition

Rig Accessories means pumps, drilling equipment, machinery, equipment, forklifts, bulldozers and other parts necessary or useful for the drilling operation of any Rig.
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Rig Accessories means pumps, drilling equipment, machinery, equipment and parts and other miscellaneous assets indirect or necessarily related to the ownership of Rigs (but excluding hard rock boring machinery and equipment).
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Rig Accessories means pumps, drilling equipment, machinery, equipment and parts.
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Examples of Rig Accessories in a sentence

  • The proceeds of the Revolving Credit Loans other than the Acquisition Facility Loans will be used by each Company to refinance current debt, for working capital, and for repairs and ordinary maintenance to the Company's Equipment (i.e., not for acquisitions of Rigs and Rig Accessories and acquisitions of the capital stock or all or substantially all of the assets of any Person, or for any other Capital Expenditures).

  • Each Guarantor represents, warrants and covenants that it does not own and shall own no Rigs or Rig Accessories.

  • All of the Rigs (other than immaterial Rig Accessories) owned or leased by any Obligor as of the date hereof are set forth on Schedule 7(18)(e)(iv) hereof; and such schedule contains the information (as of November 13, 1999) described in Section 7, Paragraph 8(b) of this Agreement.


More Definitions of Rig Accessories

Rig Accessories means pumps, drilling equipment, machinery, equipment, forklifts, bulldozers and other parts necessary or useful for the drilling operation of any Rig that is owned by a Borrower. “Rig Fleet Equipment” means the Borrowers’ Rigs, partial Rigs and to the extent acceptable to the Administrative Agent at its sole option, yard inventory and other related equipment (as categorized in the FLV Appraisal). “Rig Utilization Ratio” means, for any consecutive six-month period (or, for purposes of Section 2.01(c), three-month period) ending as of the last day of the most recently ended calendar month, the ratio (expressed as a percentage), the numerator of which is (a) the aggregate sum of the total days each of the Borrowers’ Rigs (including Stacked Rigs, but excluding Decommissioned Rigs and Rigs that have not at any time been included in the Borrowing Base) operated under a drilling contract and earned a rate during such period (whether a day rate, standby rate, moving rate or mobilization rate), and the denominator of which is (b) the product of the total number of Rigs owned by the Borrowers (including Stacked Rigs, but excluding Decommissioned Rigs and Rigs that have not at any time been included in the Borrowing Base) and the number of days in such period. “Rig Utilization Testing Period” means, the period (a) commencing on the day that the principal amount of all Loans then outstanding equals or exceeds $30,000,000 and (b) continuing through and ending on the first date after which the principal amount of all Loans then outstanding has been less than $30,000,000 for each day in any period of at least three (3) consecutive calendar months for which the Administrative Borrower has delivered to Administrative Agent a Borrowing Base Certificate pursuant to Section 5.01(g). “S&P” means S&P Global Ratings or if such company shall cease to issue ratings, another nationally recognized statistical rating company selected in good faith by mutual agreement of the Administrative Agent and the Administrative Borrower. “Sanctions” has the meaning assigned to such term in Section 3.26. “Secured Parties” means, collectively, (i) the Agents, (ii) the Lenders, (iii) any Issuing Bank, (iv) any Person indemnified under the Loan Documents and (v) any Lender or an Affiliate of any Lender with respect to any Banking Services Obligation or Swap Obligation that constitutes an Obligation. “Security Agreements” means the Guarantee and Collateral Agreement, the Patent Security Agreement, ...
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Related to Rig Accessories

  • Accessories means all fixtures, equipment, systems, machinery, furniture, furnishings, appliances, inventory, goods, building and construction materials, supplies and other articles of personal property, of every kind and character, tangible and intangible (including software embedded therein), now owned or hereafter acquired by Grantor, which are now or hereafter attached to or situated in, on or about the Land or Improvements, or used in or necessary to the complete and proper planning, development, use, occupancy or operation thereof, or acquired (whether delivered to the Land or stored elsewhere) for use or installation in or on the Land or Improvements, and all Additions to the foregoing, all of which are hereby declared to be permanent accessions to the Land.

  • Load Signalling Equipment means the equipment (which may include, but is not limited to, ripple injection plant) for the purpose of sending control signals to Load Control Equipment;

  • Firearm accessory means a device specifically designed or adapted to enable an individual to wear, carry, store, or mount a firearm on the individual or on a conveyance and an item used in conjunction with or mounted on a firearm that is not essential to the basic function of the firearm. The term includes a detachable firearm magazine.

  • Electrical equipment means underground equipment that contains dielectric fluid that is necessary for the operation of equipment such as transformers and buried electrical cable.

  • Engines means, as of any date of determination, all Engines then leased hereunder.