Contractor’s In-Hole Equipment - Daywork Basis Sample Clauses

Contractor’s In-Hole Equipment - Daywork Basis. In the event the hole should be lost or damaged while Contractor is performing Work on a Daywork Basis, Company shall assume liability for damage to or destruction of Contractor’s in-hole equipment, including, but not limited to, drill pipe, drill collars, and tool joints, and Company shall reimburse Contractor for the value of any such loss or damage; the value to be determined by agreement between Contractor and Company as current repair cost of such equipment delivered to the wellsite, but in no event not to exceed 100% of depreciated value of equipment lost.
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Contractor’s In-Hole Equipment - Daywork Basis. In the event the hole should be lost or damaged while Contractor is performing Work on a Daywork Basis, Company shall assume liability for damage to or destruction of Contractor’s in-hole equipment, including, but not limited to, drill pipe, drill collars, and tool joints, and Company shall reimburse Contractor for the value of any such loss or damage; the value to be determined by agreement between Contractor and Company as current repair cost of such equipment delivered to the wellsite, but in any event not to exceed 1 00% of depreciated value of equipment lost.
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Related to Contractor’s In-Hole Equipment - Daywork Basis

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