Common use of Ownership of Seadrill Operating Clause in Contracts

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.

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 00Sections 30, 0041, 00 xxx 00 xx xxx Xxxxxxxx 51 and 60 of the Republic 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.

Ownership of Seadrill Operating. (A) The Company directly owns 3058% of the limited partner interest in Seadrill Operating, (B) Seadrill directly owns 7042% 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 amended and restated agreement of 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 00Sections 30, 0041, 00 xxx 00 xx xxx Xxxxxxxx 51 and 60 of the Republic 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.

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 Xxx Xxxxxxxx of The Xxxxxxxx Islands Limited Partnership Act (the “Xxxxxxxx Islands LP Act”); and the Company Company, Seadrill and OP GP own such limited and general partner interests, respectively, interests free and clear of all Liens.