Contribution of Seadrill Deepwater Drillship Ltd Sample Clauses

Contribution of Seadrill Deepwater Drillship Ltd. Issuance of Company Units to Seadrill. Seadrill hereby contributes, assigns and transfers as capital contributions a proportionate part of the equity interests in Seadrill Drillship to the Company and the remaining proportionate part of such equity interests to Seadrill Operating, and the Company hereby contributes, assigns and transfers as a capital contribution the proportionate part of the equity interests in Seadrill Drillship received from Seadrill to Seadrill Operating such that, immediately following the forgoing contributions, assignments and transfers, Seadrill Operating owns 51% of the equity interests in Seadrill Drillship. In consideration for the capital contribution by Seadrill to the Company described in the preceding sentence, the Company will issue 100 of its units to Seadrill.
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