Common use of Proportionate Interests in Seadrill Operating Clause in Contracts

Proportionate Interests in Seadrill Operating. The proportions of the equity interests contributed to Seadrill Operating by each of Seadrill and the Company under Section 2.1, Section 2.4 and Section 2.5, are such that, following those contributions and the contribution of IPO proceeds described in Section 3.4(b) by the Company to Seadrill Operating, Seadrill and the Company, respectively, will own 70% and 30% limited partner interests in Seadrill Operating.

Proportionate Interests in Seadrill Operating. The proportions of the equity limited liability company interests contributed to Seadrill Operating by each of Seadrill and the Company under Section Sections 2.1, Section 2.4 and Section 2.5, 2.5 are such that, following those contributions and the contribution of IPO proceeds described in Section 3.4(b3.2(b) by the Company to Seadrill Operating, Seadrill and the Company, respectively, will own 70% and 30% limited partner interests in Seadrill Operating.