Common use of Consummation of Paragon Separation Transactions Clause in Contracts

Consummation of Paragon Separation Transactions. Evidence that, substantially concurrently with the Funding Date: (A) the Parent is (x) receiving the proceeds of the issuance of the Senior Notes, (y) effecting the Paragon Separation and (z) not a Subsidiary of Noble Cayman, (B) the lenders under the Revolving Credit Agreement are obligated to advance Revolving Loans thereunder, and (C) the aggregate amount of gross cash proceeds of the Senior Notes and the aggregate principal amount of Term Loans borrowed is not less than $1,730,000,000, provided that after giving effect to such borrowing, the Parent would have a Leverage Ratio, calculated on a pro forma basis of not more than 3.50 to 1.00; and

Consummation of Paragon Separation Transactions. Evidence that, substantially concurrently with the Funding Date: (A) the Parent Borrower is (x) receiving the proceeds of the issuance of the Senior Notes, (y) effecting the Paragon Separation and (z) not a Subsidiary of Noble Cayman, (B) the lenders under the Revolving Credit Agreement are obligated to advance Revolving Loans thereunderTerm Loan Borrower is borrowing Term Loans, and (C) the aggregate amount of gross cash proceeds of the Senior Notes and the aggregate principal amount of Term Loans borrowed is not less than $1,730,000,000, provided that after giving effect to such borrowing, the Parent Borrower would have a Leverage Ratio, calculated on a pro forma basis Pro Forma Basis of not more than 3.50 to 1.00; and