Market Valuation of the Rigs. The Borrower shall (at its own expense) (i) arrange for the Market Value of each of the Rigs to be determined and valued for the purpose of every Compliance Certificate to be delivered to the Agent pursuant to Clause 23.2 (Compliance Certificate) for the financial quarters ending 30 June and 31 December each year and (ii), if an Event of Default has occurred and is continuing, upon the Agent’s request, arrange for each of the Rigs to be valued.
Appears in 7 contracts
Samples: Whereas Eksportfinans, Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement
Market Valuation of the Rigs. The Borrower Parent shall (at its own expense) (i) arrange for the Market Value of each of the Rigs to be determined and valued for the purpose of every Compliance Certificate to be delivered to the Agent pursuant to Clause 23.2 clause 21.2 (Compliance Certificate) for the financial quarters ending 30 June and 31 December each year and (ii), if an Event of Default has occurred and is continuing, upon the Agent’s request, arrange for the Market Value of each of the Rigs to be valueddetermined.
Appears in 1 contract
Samples: Seadrill Partners LLC
