Seadrill definition

Seadrill has the meaning set forth in the opening paragraph of this Agreement.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Seadrill has the meaning set forth in the preamble to this Agreement.

Seadrill means Seadrill Limited, a company incorporated under the Laws of Bermuda with registration number 36832, prior to its emergence from bankruptcy;

Examples of Seadrill in a sentence

• The Company shall pay to the Manager a management fee equal to eight percent (8%), or such other amount to be agreed between the Company and the Manager, of the Costs and Expenses less services that the Manager procures from third parties or members of the Seadrill Group which may be passed onto the Company without a management fee where the Manager does not add value (the “Management Fee”).

• The Manager shall be entitled to assign this Agreement to another company within the Seadrill Group on written notice to the Company.

• The Manager shall assist the Company in all matters relevant to the financing of the Company’s activities, including the identification of sources of potential financing, negotiation of financing arrangements, and coordination of financing with other Seadrill Group companies for the benefit of the Company under instructions of the Board or a financial advisor of the Company.

• For the avoidance of doubt, all Shareholder Costs will be borne by Seadrill Limited under the Seadrill Management Agreement and the Manager shall not allocate any Shareholder Costs to the Company.

• The Manager shall allocate Company Operational Costs between different operating entities that are affiliates of Seadrill Limited dependant on the level of resources expended by the Manager in management of that entity’s operational activities.

More Definitions of Seadrill

Seadrill or the “Company” means Seadrill Limited, an exempted company limited by shares existing under the laws of Bermuda.

Seadrill. Additional Contract Rolled Forward Amount” ; “Seadrill Additional Contract Rolled Forward Surplus Amount” ; “Seadrill Additional Contract Revenue Deficit” ; “Seadrill Additional Contract Revenue Surplus” ;

Seadrill means Seadrill Limited, an exempted company limited by shares incorporated under the laws of Bermuda on 10 May 2005 and registered with the Bermuda Registrar of Companies under number 36832, which together with certain affiliated debtors in September 2017 commenced jointly administered proceedings titled In re Seadrill Limited, et al., Case No. 17-60079 (DRJ) under Title 11 of the United States Code, 11 U.S.C. §§ 101- 1532 in the United States Bankruptcy Court for the Southern District Of Texas Victoria Division.

Seadrill means Seadrill 2021 Limited, an exempted company limited by shares incorporated under the laws of Bermuda, with its registered office at Par-la-Ville Place, 14 Par-la-Ville Road, Hamilton HM 08, Bermuda and registered with the Bermuda Registrar of Companies under number 202100496.

Seadrill has the meaning given to it in the Preamble to this Agreement. “Seadrill T-15” has the meaning given to it in the recitals.

Seadrill means Seadrill Limited until the Restructuring Effective Date as defined in the RSA at which point references to Seadrill shall mean New Seadrill. “Seadrill Debtors” means Seadrill and the Subsidiaries of Seadrill in respect of which the Chapter 11 Cases were commenced. “SIAC Rules” means the Arbitration Rules of the Singapore International Arbitration Centre in effect from time to time. “Subsidiary” means an entity from time to time of which a person: (A) has direct or indirect control; or (B) owns directly or indirectly more than fifty per cent (50%) (votes and/or capital). “Term Sheet” means the Term Sheet set out in Schedule 1 (Term Sheet). “Transaction Documents” means all agreements and other documents necessary or desirable to implement or give effect to the AOD Transactions. “Valuation Notice” means a notice served by Mermaid or RigCo (as applicable), requesting a valuation of the Mermaid AOD Shares in accordance with Clause 9 and the

Seadrill means Seadrill Limited of Par-la-Ville Place, ▇▇ ▇▇▇-▇▇-▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, HM08, Bermuda, organisation number 36832.