Snubbing definition
Examples of Snubbing in a sentence
Borrower has an express right of access to the Snubbing Units wherever located pursuant to the related Snubbing Unit Agreement, and without limiting the foregoing, Borrower has the right to enter on property where a Snubbing Unit is located and to remove such Snubbing Unit therefrom without interference from, or imposition of any Lien on such Snubbing Unit by, any owner, landlord, tenant or other Person with an interest in such property.
Borrower will use commercially reasonable efforts to timely enforce and realize upon all rights and remedies it may have from time to time under applicable law, including all Lien rights under Chapter 56 of the Texas Property Code, as amended and in effect, or other analogous rights under the laws of the jurisdiction where Borrower has provided materials and services pursuant to a Snubbing Unit Agreement.
The Customer and Team Snubbing shall fully co-operate and any authorized authority charged with enforcement of applicable privacy laws, in responding to such inquiries, complaints, requests for access, and claims.
The sale of any goods, materials or products from Team Snubbing to Customer is done so on an “as is, where is” basis.
The definition of “Subsidiary Guarantor” contained in Section 1.01 of the Indenture is hereby amended to include each of CSI Technologies, LLC, J.R.B. Consultants, Inc., SEMO, L.L.C., SEMSE, L.L.C., Snubbing Technology Services, LLC, Superior Canada Holding, Inc., and Universal Fishing and Rental Tools, Inc., as a Subsidiary Guarantor.
Borrower will utilize its Snubbing Unit Agreement form previously reviewed and approved by Lender when leasing a Snubbing Unit and will cause such form to include a conspicuous notation stating that all of Borrower’s rights to payment and any security interest arising under the Snubbing Unit Agreement form have been pledged to Lender.
No filing is or will be necessary with the United States Department of Interior Mineral Management Service to perfect the Security Interest (including, without limitation, any Security Interest with respect to a Snubbing Unit located Offshore).
Concentric Pipe and Tool Rentals, L.L.C. Connection Technology, L.L.C. CSI Technologies, LLC Drilling Logistics, L.L.C. Fastorq, L.L.C. H.B. Rentals, L.C. International Snubbing Services, L.L.C. Non-Magnetic Rental Tools, L.L.C. Production Management Industries, L.L.C. SEMO, L.L.C. SEMSE, L.L.C. Stabil Drill Specialties, L.L.C. Sub-Surface Tools, L.L.C. Superior Holding, Inc.
Weekly, or more frequently if Lender so requires, Borrower’s “daily collateral reports”, Snubbing Unit status report that identifies, among other things, the location of each Snubbing Unit, receivables schedules, sales reports and journals, cash receipt journals, copies of deposit tickets, collection reports, copies of credit memos, reports of Inventory levels, copies of invoices to account debtors, signed and dated shipment documents and delivery receipts for goods sold to said account debtors.
Customer shall be liable to Team Snubbing for any loss or damages, howsoever arising, to equipment or materials belonging to Team Snubbing while they are under the care or control of Customer or being transported by Customer or by a carrier arranged by Customer.