Common use of Contribution of Seadrill Opco Sub LLC; Issuance of Company Units to Seadrill Clause in Contracts

Contribution of Seadrill Opco Sub LLC; Issuance of Company Units to Seadrill. Seadrill hereby contributes, assigns and transfers as capital contributions a proportionate part of the limited liability company interest in Seadrill Opco Sub to the Company and the remaining proportionate part of such limited liability company interest to Seadrill Operating, and the Company hereby contributes, assigns and transfers as a capital contribution the proportionate part of the limited liability company interest in Seadrill Opco Sub received from Seadrill to Seadrill Operating such that, immediately following the forgoing contributions, assignments and transfers, Seadrill Operating owns 100% of the limited liability company interest in Seadrill Opco Sub. 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.

Contribution of Seadrill Opco Sub LLC; Issuance of Company Units to Seadrill. Seadrill hereby contributes, assigns and transfers as capital contributions a proportionate part of the limited liability company interest in Seadrill Opco Sub to the Company and the remaining proportionate part of such limited liability company interest to Seadrill Operating, and the Company hereby contributes, assigns and transfers as a capital contribution the proportionate part of the limited liability company interest in Seadrill Opco Sub received from Seadrill to Seadrill Operating such that, immediately following the forgoing contributions, assignments and transfers, Seadrill Operating owns 100% of the limited liability company interest in Seadrill Opco Sub. 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.