Common use of Investment Restrictions Clause in Contracts

Investment Restrictions. (a) Subject to Clause 25.14(a)(ii) and 25.14(a)(iii) (Dividends Borrower) and subject to (b) below, neither the Borrower nor its Subsidiaries shall make any investments and acquisitions unless (i) after giving effect to any such investment, the Borrower and its Subsidiaries are in pro forma (“pro forma” meaning that the calculation of the financial covenants shall take into account any effect of the investment or acquisition made) compliance (evidenced by adjusted financial calculations taking into account any effect of the investment or acquisition made) with the Financial Covenants set out in Clause 24 (Financial Covenants) of this Agreement; and (ii) no Default is continuing or would result from the proposed investment and acquisition. (b) None of the Rig Owners shall make any further investments or acquisitions, except for any capital expenditure or investments related to ordinary upgrade or maintenance work of the Rigs.

Investment Restrictions. (a) Subject to Clause 25.14(a)(ii9.14(a)(ii) and 25.14(a)(iii9.14(a)(iii) (Dividends Borrower) and subject to (b) below, neither the Borrower nor its Subsidiaries shall make any investments and acquisitions unless (i) after giving effect to any such investment, the Borrower and its Subsidiaries are in pro forma (“pro forma” meaning that the calculation of the financial covenants shall take into account any effect of the investment or acquisition made) compliance (evidenced by adjusted financial calculations taking into account any effect of the investment or acquisition made) with the Financial Covenants set out in Clause 24 8 (Financial Covenants) of this Agreement; and (ii) no Default is continuing or would result from the proposed investment and acquisition. (b) None of the Rig Owners Guarantors shall make any further investments or acquisitions, except for any capital expenditure or investments related to ordinary upgrade or maintenance work of the RigsRig.

Investment Restrictions. (a) Subject to Clause 25.14(a)(iiclause 23.14 (b) and 25.14(a)(iii(c) (Dividends Borrowerof the Parent and Borrowers) and subject to paragraph (b) below, neither the Borrower Parent nor its Subsidiaries (other than the Rig Owners) shall make any investments and acquisitions unless: (i) after giving effect to any such investment, the Borrower Parent and its Subsidiaries are in pro forma (“pro forma” meaning that the calculation of the financial covenants shall take into account any effect of the investment or acquisition made) compliance (evidenced by adjusted financial calculations taking into account any effect of the investment or acquisition made) with the Financial Covenants financial covenants set out in Clause 24 clause 22 (Financial Covenants) of this Agreement; and (ii) no Default is continuing or would result from the proposed investment and acquisition. (b) None of the Rig Owners shall make any further investments or acquisitions, except for any capital expenditure or investments related to ordinary upgrade or maintenance work of the Rigs.

Investment Restrictions. (a) Subject to Clause 25.14(a)(ii23.14(a)(ii) and 25.14(a)(iii(iii) (Dividends Borrowerof the Parent and Borrowers) and subject to paragraph (b) below, neither the Borrower Parent nor its Subsidiaries (other than the Rig Owners) shall make any investments and acquisitions unless: (i) after giving effect to any such investment, the Borrower Parent and its Subsidiaries are in pro forma (“pro forma” meaning that the calculation of the financial covenants shall take into account any effect of the investment or acquisition made) compliance (evidenced by adjusted financial calculations taking into account any effect of the investment or acquisition made) with the Financial Covenants financial covenants set out in Clause 24 22 (Financial Covenants) of this Agreement; and (ii) no Default is continuing or would result from the proposed investment and acquisition. (b) None of the Rig Owners shall make any further investments or acquisitions, except for any capital expenditure or investments related to ordinary upgrade or maintenance work of the Rigs.

Investment Restrictions. (a) Subject to Clause 25.14(a)(ii23.15(a) (ii) and 25.14(a)(iii(iii) (Dividends BorrowerParent) and subject to (b) below, neither the Borrower Parent nor its Subsidiaries (other than the Borrower) shall make any investments and acquisitions unless: (i) after giving effect to any such investment, the Borrower Parent and its Subsidiaries are in pro forma (“pro forma” meaning that the calculation of the financial covenants shall take into account any effect of the investment or acquisition made) compliance (evidenced by adjusted financial calculations taking into account any effect of the investment or acquisition made) with the Financial Covenants set out in Clause 24 22 (Financial Covenants) of this Agreement; and (ii) no Default is continuing or would result from the proposed investment and acquisition. (b) None of the Rig Owners The Borrower shall not make any further investments or acquisitions, except for any capital expenditure or investments related to ordinary upgrade or maintenance work of the RigsDrilling Unit.

Investment Restrictions. (a) Subject to Clause 25.14(a)(ii23.14(a)(ii) and 25.14(a)(iii(iii) (Dividends of the Parent and Borrower) and subject to paragraph (b) below, neither the Borrower Parent nor its Subsidiaries (other than the Rig Owner) shall make any investments and acquisitions unless: (i) after giving effect to any such investment, the Borrower Parent and its Subsidiaries are in pro forma (“pro forma” meaning that the calculation of the financial covenants shall take into account any effect of the investment or acquisition made) compliance (evidenced by adjusted financial calculations taking into account any effect of the investment or acquisition made) with the Financial Covenants financial covenants set out in Clause 24 22 (Financial Covenants) of this Agreement; and (ii) no Default is continuing or would result from the proposed investment and acquisition. (b) None of the The Rig Owners Owner shall not make any further investments or acquisitions, except for any capital expenditure or investments related to ordinary upgrade or maintenance work of the RigsRig.