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).
AutoNDA by SimpleDocs
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

  • Pipelines Developer shall have no interest in the pipeline gathering system, which gathering system shall remain the sole property of Operator or its Affiliates and shall be maintained at their sole cost and expense.

  • 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.

  • Partnership Working 7.1 Partnerships will be supported by local authorities on four levels between:

  • Plant The expression ‘Plant’ as used in the tender papers shall mean every temporary accessory necessary or considered necessary by the Engineer to execute, construct, complete and maintain the work and all altered, modified, substituted and additional works ordered in the time and the manner herein provided and all temporary materials and special and other articles and appliance of every sort kind and description whatsoever intended or used therefore.

  • Infrastructure (a) The Borrower has and will maintain a sufficient infrastructure to conduct its business as presently conducted and as contemplated to be conducted following its execution of this Agreement.

  • Provisioning of High Frequency Spectrum and Splitter Space 3.2.1 BellSouth will provide <<customer_name>> with access to the High Frequency Spectrum as follows:

  • Agreement with Respect to Leased Data Processing Equipment (a) The Receiver hereby grants to the Assuming Bank an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to accept an assignment from the Receiver of any or all Data Processing Leases to the extent that such Data Processing Leases can be assigned.

  • Built-up Area The built-up area for the Designated Apartment or any other Unit shall mean the Carpet Area of such Unit and Balcony area and 50% (fifty percent) of the area covered by those external walls which are common between such Unit/Balcony and any other Unit/Balcony and the area covered by all other external walls of the such Unit/Balcony.

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

  • Infrastructure Vulnerability Scanning Supplier will scan its internal environments (e.g., servers, network devices, etc.) related to Deliverables monthly and external environments related to Deliverables weekly. Supplier will have a defined process to address any findings but will ensure that any high-risk vulnerabilities are addressed within 30 days.

Time is Money Join Law Insider Premium to draft better contracts faster.