LOSS OF DRILLING UNIT Sample Clauses

LOSS OF DRILLING UNIT. If the Drilling Unit is declared to be a total loss and/or construed to be total loss, as determined by the applicable insurance coverage, this Contract shall terminate in respect of that drilling unit(s) as of the occurrence of the event causing such loss and each party shall thereupon be released of all further obligations hereunder in respect of that drilling unit(s), except for its payment of monies then due or liabilities to be discharged in respect of work already done under this Contract in respect of that drilling unit(s).
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LOSS OF DRILLING UNIT. In the event of actual or constructive total loss of the Drilling Unit (as determined by CONTRACTOR’S underwriters), termination shall be immediate with neither CONTRACTOR nor CONTRACTOR’S underwriters having any recourse against COMPANY, or obligations pursuant to Exhibit E, except for CONTRACTOR’S claim to amounts CONTRACTOR earned up to the date of such loss. Contractor shall be responsible for any removal or salvage costs.

Related to LOSS OF DRILLING UNIT

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  • LOSS OF PERSONAL PROPERTY The board will not be responsible for any employee’s loss of personal property brought to a school or work site; however, in the event an employee’s personal property is lost or damaged as a direct result of a disaster, such as hurricane, fire, flood, etc., the board will reimburse the employee’s loss or damage in an amount not to exceed $500 per occurrence. In order for an employee to be eligible for such reimbursement, the personal property for which the employee makes a claim must have been pre-approved for use by the employee in connection with the employee’s duties, as evidenced by a written approval form signed by the employee’s principal or site supervisor and by the employee. In addition to the approval form, the employee must attach to the form proof of the property’s value, i.e. receipt, etc. The employee will be responsible for presenting a copy of the approval form in order to secure payment for loss. Payment will not be made unless the form is presented. The maximum amount an employee may receive for loss in any single occurrence is a total of $500, regardless of the amount or number of items approved for use in connection with the employee’s duties.

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  • Clearcutting Units All trees that meet Utilization Standards within “Clearcutting Units” are designated for cutting.

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