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 that is owned by a Borrower.
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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 tubulars, pumps, drilling equipment, machinery, equipment and parts and all other equipment ancillary to Rig Fleet Equipment.
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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).


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.

  • 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.

  • Spares means a part or a sub-assembly or assembly for substitution which is ready to replace an identical or similar part or sub-assembly or assembly including a component or an accessory;

  • Data Processing Equipment means any equipment, computer hardware, or computer software (and the lease or licensing agreements related thereto) other than Personal Computers, owned or leased by the Failed Bank at Bank Closing, which is, was, or could have been used by the Failed Bank in connection with data processing activities.

  • Consumables means where the context permits, Digital Print Consumables, Inkjet Printing System Consumables and Prepress Consumables.

  • Machinery means any article or combination of articles assembled, arranged or connected and which is used or intended to be used for converting any form of energy to performing work, or which is used or intended to be used, whether incidental thereto or not, for developing, receiving, storing, containing, confining, transforming, transmitting, transferring or controlling any form of energy;

  • Appliances means and include electrical, mechanical and electronic appliances such as refrigerator, television, DVD player, videocassette recorder/player, washing machine, microwave oven, music system, personal computer, laptops and air-conditioner contained or fixed in the Insured’s home for domestic use.

  • Tooling means tooling inventory, including but not limited to dies, molds, tooling, casting patterns, gauges, jigs, racks and stands for engines, cowls, radome and wheels, aircraft jacks, test benches, test equipment, lathes, welders, grinders, presses, punches and hoists and other similar items (whether or not completed or fixed or handheld).

  • Modules means the Base Modules and Extended Modules.

  • Equipments and ‘Plants’ shall mean and include all sorts of machineries and accessories, apparatus, instruments, components manufactured articles and parts etc. to be supplied or provided by the contractor under the terms of the contract , unless otherwise specified

  • Equipment is all “equipment” as defined in the Code with such additions to such term as may hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing.

  • Associated equipment means equipment that is used in conjunction with a radiographic exposure device to make radiographic exposures that drives, guides, or comes in contact with the source, e.g., guide tube, control tube, control (drive) cable, removable source stop, “J” tube and collimator when it is used as an exposure head.

  • Devices means any and all devices owned or purchased from time to time by Party A and utilized for the purposes of the provision of the Services.

  • Medical equipment means equipment used in a patient care environment to support patient treatment and diagnosis.

  • Service Equipment means any equipment, Software, systems, cabling and facilities provided by or on behalf of Verizon and used to facilitate provision of the Services at a Customer Site. Ownership of the Service Equipment does not pass to Customer. Service Equipment does not include Verizon Facilities.

  • Additional Equipment means equipment that is not factory fitted in the Vehicle, including but not limited to navigation equipment (GPS), baby seat, bicycle rack etcetera;