TODCO definition

TODCO has the meaning set forth in the recital hereto.

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TODCO means the Subsidiary of the Borrower that holds, together with any Subsidiaries of such Subsidiary, all or substantially all of the assets of the shallow and inland water business segment of the Borrower and its Subsidiaries (including the jackup rig and drilling barge operations in the U.S. Gulf of Mexico and the drilling operations in Trinidad, Mexico and Venezuela).

TODCO shall have the meaning assigned to such term in the first recital hereto.

Examples of TODCO in a sentence

SD DRILLING LLC THE OFFSHORE DRILLING COMPANY THE ONSHORE DRILLING COMPANY TODCO AMERICAS INC.
In the event that a Carryback by the TODCO Tax Group to a Consolidated Year or Combined Year increases the liability for Taxes of the Transocean Tax Group, the amount of the refund to which the TODCO Tax Group shall be entitled to receive, in accordance with Section 5, shall be net of such increased liability to the Transocean Tax Group.
If Holdings fails to consent to such payment, it shall indemnify TODCO and its Subsidiaries for any Taxes resulting from the failure to make such payment.
Notwithstanding the immediately preceding sentence, if any member of the TODCO Tax Group becomes a member of such Group after the IPO Closing Date (determined after the application of Section 2.5(a) of this Agreement), TODCO shall be liable for all Foreign Income Taxes imposed on such member for all Separate Return Years.
Holdings will pay, or shall cause one or more of its Subsidiaries (other than members of the TODCO Tax Group) to pay, the amount described in clause (x) of the immediately preceding sentence to the relevant Tax Authority on or before such Payment Date.
Holdings shall provide to TODCO, and TODCO shall provide to Holdings, any information about members of the Transocean Tax Group or the TODCO Tax Group, respectively, which the party receiving such information needs to comply with Section 3.2(a) or (b).
Notwithstanding the immediately preceding sentence, if any member of the TODCO Tax Group becomes a member of such Group after the IPO Closing Date (determined after the application of Section 2.5(a) of this Agreement), TODCO shall be liable for all State Income Taxes imposed on such member for all Separate Return Years.
At least ten business days prior to any Payment Date for a Consolidated or Combined Return, Holdings shall compute the amount of Tax required to be paid to the relevant Tax Authority with respect to such Tax Return on such Payment Date and shall notify TODCO in writing of (x) the amount of Tax required to be paid on such Payment Date, and (y) the amount, if any, of such Tax which is allocable to TODCO under Sections 2.1(a), 2.2(a) and 2.3(a).
Holdings shall prepare the Tax Returns for which it is responsible pursuant to this Section 3 and which relate to the TODCO Tax Group with the same general degree of care as it uses in preparing Tax Returns relating solely to the Transocean Tax Group.
Holdings shall not be liable for any additional Taxes that result from a redetermination in a Tax Contest and for which TODCO is otherwise liable under Section 2, unless such additional Taxes arise solely as a result of Holdings failure to exercise such degree of care.

More Definitions of TODCO

TODCO means the TODCO Group. For the sake of clarity, the parties acknowledge and agree that, as of the IPO Closing Date, TODCO will have assumed or will assume direct responsibility for the functions (including the recruitment of personnel and establishment of appropriate internal control procedures normally associated with such functions) set forth in this Section 1.0 below (the "Transferred Accounting Services"). Except as may be expressly agreed as additional Services under Section 2.3 of this Agreement, Transocean shall have no obligation to provide any Transferred Accounting Service; provided that nothing contained in this Exhibit II shall be interpreted or deemed to obligate Transocean to provide any service which is not otherwise expressly required hereunder. The Transferred Accounting Services shall include:

TODCO means TODCO (formerly known as R&B Falcon Corporation), a Delaware corporation. In all such instances in which TODCO is referred to in this Agreement, it shall also be deemed to include a reference to each member of the TODCO Group, unless it specifically provides otherwise; TODCO shall be solely responsible to Transocean for ensuring that each member of the TODCO Group complies with the applicable terms of this Agreement.

TODCO means TODCO, a Delaware corporation, during its existence prior to the Effective Time of the Merger.

TODCO means the TODCO Group.