Rig Owner definition

Rig Owner means the company named as owner of the Rig pursuant to Schedule 2 (Guarantors and Rig) or the company to which the Rig is transferred as a result of of the Capricorn Ownership Restructuring.
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Rig Owner means the Borrower and each Subsidiary, in each case, to the extent that such Person that holds an ownership interest in a Rig.
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Rig Owner means either of them;
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Examples of Rig Owner in a sentence

  • Holdings shall cause the Collateral Rig Operator to continue to be a party to the Master Services Agreement and to have access to the Services (as defined therein) and personnel provided thereunder in order to comply with the performance standards under the Drilling Contract until the stated expiration date of the Drilling Contract regardless of whether the Collateral Rig Owner or the Collateral Rig Operator remains an Affiliate of Holdings.

  • Holdings shall cause each of the Company, the Collateral Rig Owner and the Collateral Rig Operator to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders.

  • Each Rig Owner will hold full legal title to and own the entire beneficial interest in the Rigs, the Insurances and their Earnings, free of any Security Interest and other interests and rights of every kind, except for those created by the Finance Documents and as set out in Clause 25.7 (Negative pledge).

  • For the avoidance of doubt, during any Blocked Period, Holdings may continue to cause the Collateral Rig Operator to pay amounts due under the Bareboat Charter into the Bareboat Account, and the Collateral Rig Owner may continue to pay amounts due under the Bareboat Charter, if any, into the Earnings Account by delivering a Blocked Period Withdrawal Certificate.

  • The Borrower and Holdings will ensure that each Collateral Rig Owner shall at all times deposit any earnings, hires, freights, income and other sums payable to the Collateral Rig Owner under any bareboat charterparty with a Collateral Rig Operator in respect of any Collateral Rig to the Bareboat Charter Account.

  • The Company shall, and shall cause each of its Material Subsidiaries and each Collateral Rig Owner, as applicable, to comply with the requirements set forth in Schedule 6.5.

  • The Rig Owner will hold full legal title to and own the entire beneficial interest in the Rig, the Insurances and its Earnings, free of any Security Interest and other interests and rights of every kind, except for those created by the Finance Documents and as set out in Clause 9.7 (Negative pledge).

  • Except as set out in the final paragraph of this section F.1, each Rig Owner to procure that the Seadrill Limited financial covenants (and related definitions) in the relevant Rig Owner’s facility agreement are amended and/or suspended (as appropriate) to mirror the amendments to be made to the equivalent financial covenants in the Secured Facilities Agreements, as summarised in Annex 1.

  • Each Rig Owner to procure that the change of control provisions in the relevant Rig Owner’s facility agreement are amended to mirror the amendments to be made to the equivalent provisions in the Secured Facilities Agreements.

  • The Administrative Agent, the Collateral Agent and each of their respective successors and assigns shall not be responsible for any premiums, club calls, if any, assessments or any other obligations or for the representations and warranties made therein by any Rig Owner, the Parent Borrower, any of the Parent Borrower’s Subsidiaries or any other Person.


More Definitions of Rig Owner

Rig Owner or included in the definition of “Rigs” or “Rig Owner” under this Agreement.
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Rig Owner means any one of them as the context requires;
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Rig Owner means each of Seadrill Castor, Seadrill Telesto and Seadrill Tucana and “Rig Owner” means any one of them as the context requires;
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Rig Owner means the Parent and each Wholly­Owned Subsidiary, in each case, to the extent that such Person that holds an ownership interest in a Rig.
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Related to Rig Owner

  • Co-Owner means a Person who owns an Ownership Interest and a Co-Owner of a Series means a Person who owns an Ownership Interest of the Series.

  • Existing Owner means (a) with respect to and for the purpose of dealing with the Auction Agent in connection with an Auction, a Person who is a Broker-Dealer listed in the Existing Owner Registry at the close of business on the Business Day immediately preceding the Auction Date for such Auction and (b) with respect to and for the purpose of dealing with the Broker-Dealer in connection with an Auction, a Person who is a beneficial owner of Auction Rate Notes.

  • Managing Owner as used only in this Section 4.7 shall include, in addition to the Managing Owner, any other Covered Person performing services on behalf of the Trust and acting within the scope of the Managing Owner’s authority as set forth in this Trust Agreement.

  • Lot Owner means a declarant or other person who owns a lot, or a lessee of a lot in a leasehold planned community whose lease expires simultaneously with any lease the expiration or termination of which will remove the lot from the planned community, but does not include a person having an interest in a lot solely as security for an obligation.

  • Contract holder means the person to whom the Benefit Plan is issued. Any other person approved for coverage with the Contract Holder under this plan is a dependent. Under Group coverage, the Contract Holder is the Member who is eligible for coverage because of his or her affiliation with a Group.