Ownership of Seadrill Operating Sample Clauses

Ownership of Seadrill Operating. (A) The Company directly owns 30% of the limited partner interest in Seadrill Operating, (B) Seadrill directly owns 70% of the limited partner interest in Seadrill Operating and (C) OP GP owns a non-economic general partner interest in Seadrill Operating; such limited and general partner interests have been duly authorized and validly issued in accordance with the limited partnership agreement of Seadrill Operating (the “Seadrill Operating LPA”) and are fully paid (to the extent required by the Seadrill Operating LPA) and, in the case of the limited partner interests, non-assessable (except as such non-assessability may be affected by Xxxxxxx 00, 00, 00 xxx 00 xx xxx Xxxxxxxx of The Xxxxxxxx Islands Limited Partnership Act (the “Xxxxxxxx Islands LP Act”); and the Company and OP GP own such limited and general partner interests, respectively, free and clear of all Liens.
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Ownership of Seadrill Operating. At the Closing Date, after giving effect to the Transactions, and any settlement date thereafter, (A) the Company will directly own 30% of the limited partner interest in Seadrill Operating, (B) Seadrill will directly own 70% of the limited partner interest in Seadrill Operating and (C) OP GP will own a non-economic general partner interest in Seadrill Operating; such limited and general partner interests will have been duly authorized and validly issued in accordance with the limited partnership agreement of Seadrill Operating (as the same may be amended and restated at or prior to the Closing Date, the “Seadrill Operating LPA”) and will be fully paid (to the extent required by the Seadrill Operating LPA) and non-assessable (except as such non-assessability may be affected by Xxxxxxx 00, 00, 00 xxx 00 xx Xxx Xxxxxxxx of The Xxxxxxxx Islands Limited Partnership Act (the “Xxxxxxxx Islands LP Act”); and the Company, Seadrill and OP GP will own such limited and general partner interests free and clear of all Liens.
Sample 1

Related to Ownership of Seadrill Operating

  • Ownership of Seller Credit Acceptance is the sole owner of the membership interests of the Seller, all of which are fully paid and nonassessable and owned of record, free and clear of all mortgages, assignments, pledges, security interests, warrants, options and rights to purchase.

  • Ownership of the Company At all times while this Parent Guarantee Agreement is in effect and while any of the obligations of the Parent Guarantor hereunder remain outstanding, one hundred percent (100%) of the outstanding capital stock of the Company shall be owned by the Parent Guarantor.

  • Joint Ownership of Interests A Partnership Interest may be acquired by two individuals as joint tenants with right of survivorship, provided that such individuals either are married or are related and share the same home as tenants in common. The written consent or vote of both owners of any such jointly held Partnership Interest shall be required to constitute the action of the owners of such Partnership Interest; provided, however, that the written consent of only one joint owner will be required if the Partnership has been provided with evidence satisfactory to the counsel for the Partnership that the actions of a single joint owner can bind both owners under the applicable laws of the state of residence of such joint owners. Upon the death of one owner of a Partnership Interest held in a joint tenancy with a right of survivorship, the Partnership Interest shall become owned solely by the survivor as a Limited Partner and not as an assignee. The Partnership need not recognize the death of one of the owners of a jointly-held Partnership Interest until it shall have received notice of such death. Upon notice to the General Partner from either owner, the General Partner shall cause the Partnership Interest to be divided into two equal Partnership Interests, which shall thereafter be owned separately by each of the former owners.

  • Ownership of Other Entities Other than the subsidiaries of the Company listed in Exhibit 21 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, the Company, directly or indirectly, owns no capital stock or other equity or ownership or proprietary interest in any corporation, partnership, association, trust or other entity.

  • Company Ownership of Other Entities The Company does not own an interest in any corporation, partnership, limited liability company, joint venture, trust or other entity.

  • Ownership of Interests The Interest Owners are the owners of all of the Interests, each owning the percentage set forth in Item 2(a) of Schedule 1, and have good and valid title thereto, with no restrictions on, or any agreements with respect to, voting rights or any other incidents of ownership thereof, except as set forth in the Company’s Organizational Documents. The Interests represent one hundred percent (100%) of the record and beneficial interests in the Company and all other right, title and interest in and to the equity of the Company. The Interest Owners have the absolute right to sell and transfer all of the Interests to Buyer free and clear of all Interest Liens. Each Interest Owner acquired its Interest in compliance with all applicable laws. On consummation of the Contemplated Transactions, in accordance with the terms hereof, Buyer will acquire good and marketable title to the Interests free and clear of all Interest Liens.

  • Ownership of the Borrower Except as set forth in the Partnership Agreement of the Borrower, the Borrower has no obligation to any Person to purchase, repurchase or issue any ownership interest in it.

  • Ownership of Equipment Any equipment purchased by or furnished to the Grantee by the State under this grant agreement is provided on a loan basis only and remains the property of the State.

  • Ownership of Subsidiaries The Borrower will, and will cause each of its Subsidiaries to, take such action from time to time as shall be necessary to ensure that each of its Subsidiaries is a wholly owned Subsidiary.

  • Ownership of Borrower The REIT Guarantor is the sole general partner of the Borrower and owns free of any Lien or other claim not less than a sixty-six and two-thirds percent (66 2/3%) Equity Interest in the Borrower as the general partner thereof.

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