Common use of Ownership of the Seadrill Member Clause in Contracts

Ownership of the Seadrill Member. Seadrill directly owns 100% of the limited liability company interest in the Seadrill Member; such limited liability company interest has been duly authorized and validly issued in accordance with the limited liability company agreement of the Seadrill Member (the “Seadrill Member LLC Agreement”) and is fully paid (to the extent required by the Seadrill Member LLC Agreement) and non-assessable (except as such non-assessability may be affected by Sections 20, 31, 40 and 49 of the Republic of The Xxxxxxxx Islands Limited Liability Company Act of 1996 (the “Xxxxxxxx Islands LLC Act”)); and Seadrill owns such limited liability company interest free and clear of all liens, encumbrances, security interests, charges, equities or other claims (“Liens”).

Ownership of the Seadrill Member. Seadrill directly owns 100% of the limited liability company interest in the Seadrill Member; such limited liability company interest has been duly authorized and validly issued in accordance with the limited liability company agreement of the Seadrill Member (the “Seadrill Member LLC Agreement”) and is fully paid (to the extent required by the Seadrill Member LLC Agreement) and non-assessable (except as such non-assessability may be affected by Sections 20Xxxxxxx 00, 3100, 40 and 49 of the Republic 00 xxx 00 xx Xxx Xxxxxxxx of The Xxxxxxxx Islands Limited Liability Company Act of 1996 (the “Xxxxxxxx Islands LLC Act”)); and Seadrill owns such limited liability company interest free and clear of all liens, encumbrances, security interests, charges, equities or other claims (“Liens”).

Ownership of the Seadrill Member. Seadrill directly owns 100% of the limited liability company interest in the Seadrill Member; such limited liability company interest has been duly authorized and validly issued in accordance with the limited liability company agreement of the Seadrill Member (the “Seadrill Member LLC Agreement”) and is fully paid (to the extent required by the Seadrill Member LLC Agreement) and non-assessable (except as such non-assessability may be affected by Sections 20Xxxxxxx 00, 3100, 40 and 49 of the Republic 00 xxx 00 xx xxx Xxxxxxxx of The Xxxxxxxx Islands Limited Liability Company Act of 1996 (the “Xxxxxxxx Islands LLC Act”)); and Seadrill owns such limited liability company interest free and clear of all liens, encumbrances, security interests, charges, equities or other claims (“Liens”).