Equipment or Property Clause Samples

Equipment or Property. Except as specifically provided herein to the contrary, Contractor shall at all times be responsible for and hold harmless and indemnify Operator from and against damage to or loss of Contractor’s property, Contractor’s Items, and the property, equipment, material and services of Contractor’s Affiliated Companies, partnerships, and limited liability companies, and its and all of their co-owners, partners, co-venturers, joint owners, and its contractors and subcontractors of any tier and the officers, directors, employees, agents, assigns, representatives, managers, consultants, insurers and subrogees of each of the foregoing. Except to the extent that the proceeds from Contractor’s insurance as made available to Contractor do not compensate Contractor therefor,

Equipment or Property. Except as specifically provided herein to the contrary, each Party shall at all times be responsible for and hold harmless, defend and indemnify the other Party from and against damage to or loss of its own equipment or property, regardless of the cause of loss, including the negligence of such Party, and despite the fact that a Party's items may be under the control of the other Party, except that, (a) Company shall be responsible at all times for and shall hold harmless and indemnify Contractor for loss or destruction of or damage to Contractor's drill pipe, drill collars, subs, reamers, bumper subs, stabilizers and other in-hole equipment when such equipment is being used in the hole below the rotary table, normal wear excepted. Abnormal wear and/or damage for which Company shall be responsible hereunder shall include, but not be limited to, wear and/or damage resulting from the presence of hydrogen sulfide or other corrosive elements in the hole including those introduced into the drilling fluid, excessive wear caused by sandcutting, damage resulting from excessive or uncontrolled pressure such as those encountered during testing, blow-out, or in a well out of control, excessive deviation of the hole from vertical, dog-leg severity, fishing, cementing or testing operations, and from any unusual Workover Services undertaken at Company's request. Company's responsibility for such abnormal wear and/or damage as referred to herein shall include abnormal wear and/or damage to Contractor's choke hoses and manifolds, blow-out prevention and other appurtenant equipment. Company shall pay the cost of repairing damaged equipment if repairable. In the case of equipment lost, destroyed or damaged beyond repair, Company shall reimburse Contractor an amount equal to the then current replacement cost of such equipment delivered to the Workover Rig or Pullover Unit, less depreciation. In calculating Company's liability under this Section 9.1(a), Company shall receive credit for any physical damage insurance proceeds actually received by Contractor with respect to any damage or destruction to Contractor's equipment that is subject to indemnification by Company under this Section 9.1(a). (b) The depreciation rate for Contractor's equipment lost, destroyed or damaged beyond repair shall be twenty (20%) per annum straight line from Contractor's documented date of purchase or refurbishment; provided however, in no event shall depreciation deducted from replacement cost exc...

Equipment or Property. Except as specifically provided herein to the contrary, each Party hereto shall, at all times, be responsible for and shall hold harmless and indemnify the other Party from and against any damage to or loss of its own equipment or property, regardless of the cause of loss, including the negligence of such Party, and despite the fact that a Party’s items may be under the control of other Party, except that;

Equipment or Property. Except as specifically provided in this Contract to the contrary, each Party shall at all times be responsible for and shall hold harmless and indemnify the other Party from and against damage to or loss of its own equipment or property, howsoever owned, regardless of the cause of loss, including the negligence of such Party, and despite the fact that a Party’s items may be under the control of the other Party, except that: (a) Operator shall be responsible for damage to or loss of Contractor’s drill string in the event of its loss, destruction or damage in the borehole. In such event, Operator shall pay to Contractor the following: A. For damaged equipment that is repairable, the lesser of either the cost of repairs or the replacement cost less an allowance for depreciation. B. For equipment lost, destroyed or damaged beyond repair, the replacement cost less the depreciation as per the following depreciation factor. The depreciation shall be calculated by multiplying the replacement value by the depreciation factor for each month of actual use, dated from commencement date of this Contract, provided that at no time shall the value of the equipment lost, destroyed or damaged beyond repair be less than forty percent (40%) of the replacement cost at the time such loss, destruction or damage occurred. For new item the depreciation shall apply to 100% of the replacement value, for used items the depreciation shall apply to 75% of the replacement value. Transportation cost shall be added to the above at documented cost. The schedule for straight line depreciation shall be as follows: Drill Collars, Drill Pipe, Reamers, Stabilisers, Bumper Subs 1.0% per month And Other In-hole Equipment 2.0% per month At the time Contractor claims the right to reimbursement for such damage to, loss or destruction of Contractor’s in-hole equipment as set forth above, Contractor shall submit with Contractor’s invoice for reimbursement, evidence of the number of days of use from commencement date, the replacement cost and the depreciation value for such equipment. However, Contractor shall be responsible for damages to or loss of Contractor drilling string in the event its loss, destruction of damage in the borehole is due to Contractor negligence or Wilful Misconduct.

Equipment or Property. Operator shall at all times be responsible for and hold harmless and indemnify Contractor from and against damage to or loss of Operator’s property, Operator’s Items and the property, equipment and materials of Operator’s Affiliated Companies, and its and all of their co-owners, co-lessees, farmors, farmees, partners, co-venturers, joint owners, and its contractors and subcontractors of any tier (with the exception of Contractor and its subcontractors of any tier), consultants, agents or servants, and the employees of each of the foregoing. Except as specifically provided herein to the contrary, Contractor shall at all times be responsible for and hold harmless and indemnify Operator from and against damage to or loss of Contractor’s Items and the property, equipment and materials of Contractor’s Affiliated Companies, subcontractors, consultants, agents or servants, and the employees of each of the foregoing. Notwithstanding the foregoing, to the extent that the proceeds from Contractor’s insurance as made available to Contractor do not compensate Contractor therefor:

Equipment or Property. TransferPurchase of Equipment. Grantor shall have the right to require that Grantee transfer to GrantorFor any equipment, including title thereto, purchased in whole or in part with Grantor fundsGrant Funds, if Grantor determines that Grantee has not met the conditions of 2 CFR 200.439., the costs for such equipment will be disallowed. Grantor shall notify Grantee in writing should Grantor require that the transferpurchase of such equipment. Upon such notification by Grantor, and upon receipt or delivery of such equipment by Grantor, Grantee will be deemed to have transferred the equipment to Grantor as if Grantee had executed a ▇▇▇▇ of sale ▇▇▇▇▇▇▇▇.▇▇ disallowed.

Equipment or Property