Common use of Contractor’s In-Hole Equipment - Daywork Basis Clause in Contracts

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.

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 or replacement cost of such equipment delivered to the wellsite, but in no event not to exceed 100% of depreciated value of equipment lost.

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 any event not to exceed 1001 00% of depreciated value of equipment lost.

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 any event not to exceed 100% of depreciated value of equipment lost.