Rig Sale Sample Clauses

Rig Sale. If a Rig is transferred or disposed of in connection with an Asset Disposition that is not a Total Loss and that is permitted by Section 4.11(g), then within 30 days following the Issuer’s receipt of all of the Net Cash Proceeds of such Asset Disposition, the Issuer shall deliver a notice of redemption in accordance with Section 3.03 that states the earliest possible redemption date permitted by Section 3.03, on which redemption date (a) if such Rig is the NLN, the Issuer shall use such Net Cash Proceeds of such Asset Disposition in an amount equal to the greater of (i) $150.0 million and (ii) 50% of such Net Cash Proceeds, to redeem the Notes, in whole or part, at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest thereon to, but not including, the date of redemption (with any remaining Net Cash Proceeds of such Asset Disposition being referred to herein as the “NLN Asset Disposition Excess Proceeds”) or (b) if such Rig is not the NLN, the Issuer shall use such Net Cash Proceeds of such Asset Disposition in an amount equal to the greater of (i) $50.0 million and (ii) 50% of such Net Cash Proceeds, to redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest thereon to, but not including, the date of redemption (with any remaining Net Cash Proceeds of such Asset Disposition, together with any NLN Asset Disposition Excess Proceeds, being referred to herein as the “Asset Disposition Excess Proceeds”).
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Related to Rig Sale

  • Permit Transfer/Sale 5 16. Release and Waiver of All Claims against Sector Manager; Indemnification and Hold Harmless.

  • AS-IS-SALE (a) BUYER SPECIFICALLY ACKNOWLEDGES AND AGREES THAT SELLER IS SELLING AND BUYER IS PURCHASING THE PROPERTY ON AN “AS IS WITH ALL FAULTS” BASIS AND THAT, EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT AND THE CLOSING DOCUMENTS DELIVERED BY SELLER TO BUYER AT CLOSING, BUYER IS NOT RELYING ON ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, FROM SELLER, ITS AGENTS, OR BROKERS AS TO ANY MATTERS CONCERNING THE PROPERTY, INCLUDING WITHOUT LIMITATION: (I) THE QUALITY, NATURE, ADEQUACY AND PHYSICAL CONDITION OF THE PROPERTY, INCLUDING, BUT NOT LIMITED TO THE STRUCTURAL ELEMENTS, FOUNDATION, ROOF, APPURTENANCES, ACCESS, LANDSCAPING, PARKING FACILITIES AND THE ELECTRICAL, MECHANICAL, HVAC, PLUMBING, SEWAGE, AND UTILITY SYSTEMS, FACILITIES AND APPLIANCES, (II) THE QUALITY, NATURE, ADEQUACY, AND PHYSICAL CONDITION OF SOILS, GEOLOGY AND ANY GROUNDWATER, (III) THE EXISTENCE, QUALITY, NATURE, ADEQUACY AND PHYSICAL CONDITION OF UTILITIES SERVING THE PROPERTY, (IV) THE DEVELOPMENT POTENTIAL OF THE PROPERTY, AND THE PROPERTY’ USE, HABITABILITY, MERCHANTABILITY, OR FITNESS, SUITABILITY, VALUE OR ADEQUACY OF THE PROPERTY FOR ANY PARTICULAR PURPOSE, (V) THE ZONING OR OTHER LEGAL STATUS OF THE PROPERTY OR ANY OTHER PUBLIC OR PRIVATE RESTRICTIONS ON USE OF THE PROPERTY, (VI) THE COMPLIANCE OF THE PROPERTY OR ITS OPERATION WITH ANY APPLICABLE CODES, LAWS, REGULATIONS, STATUTES, ORDINANCES, COVENANTS, CONDITIONS AND RESTRICTIONS OF ANY GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY OR OF ANY OTHER PERSON OR ENTITY, (VII) THE PRESENCE OR ABSENCE OF HAZARDOUS MATERIALS (AS DEFINED IN ANY ENVIRONMENTAL STATUTE) ON, UNDER OR ABOUT THE PROPERTY OR THE ADJOINING OR NEIGHBORING PROPERTY, (VIII) THE QUALITY OF ANY LABOR AND MATERIALS USED IN ANY IMPROVEMENTS ON THE PROPERTY, (IX) THE CONDITION OF TITLE TO THE PROPERTY, (X) THE LEASES (INCLUDING ALL SERVICE CONTRACTS) AND ANY OTHER AGREEMENTS AFFECTING THE PROPERTY AND (XI) THE ECONOMICS OF ANY PAST OR FUTURE OPERATIONS OF THE PROPERTY.

  • Snow Days ‌ If an employee, after good faith efforts, is unable to report to work for their scheduled duty period because of weather conditions, the employee may utilize paid time off.

  • Night Shift Differential 1. An employee who works an assigned night shift shall, in addition to his or her regular salary, be paid a night shift differential for each hour actually worked on the assigned night shift.

  • Weekend Differential Employees assigned to State institutions other than Maine State Prison shall be eligible for a weekend differential of fifty cents ($.50) per hour to the base for shifts beginning between 10:00 p.m. Friday and 9:59 p.m.

  • Evening Shift Differential A shift premium of two dollars and seventy-five cents ($2.75) per hour shall be paid:

  • Sale Price (a) As consideration for the sale of the CEF Assets pursuant to Section 2.1 hereof, the Purchaser shall pay to the applicable Seller on the Closing Date, the CEF Purchase Price for the CEF Assets sold and transferred by such Seller to the Purchaser on the Closing Date. The CEF Purchase Price for the sale of CEF Assets shall be an amount equal to the fair market value thereof as agreed upon by the Purchaser and the applicable Seller prior to such sale.

  • Direct transport 1. In order for originating goods to maintain their originating status, the goods shall be transported directly between the Parties. 2. Notwithstanding paragraph 1, the following shall be considered to be transported directly from the exporting Party to the importing Party: (a) goods that are transported without passing through the territory of a non-Party; and (b) goods whose transport involves transit through one or more non-Parties, with or without trans-shipment or temporary storage in such non-Parties, under control of the customs authority, provided that the goods do not: (i) enter into trade or commerce there; and (ii) undergo any operation there other than unloading and reloading, repacking, or any operation required to keep them in good condition. 3. Compliance with paragraphs 1 and 2 shall be demonstrated by presenting the following documentation to the customs authority of the importing Party: (a) in the case of transit or trans-shipment, the transportation documents, such as the airway xxxx, the xxxx of lading, or the multimodal or combined transportation document, that certify the transport from the country of origin to the importing country, as the case may be; and (b) in the case of storage, the transportation documents, such as the airway xxxx, the xxxx of lading, or the multimodal or combined transportation document, that certify the transport from the country of origin to the importing country, as the case may be, as well as the documents issued by the customs authority or other competent authority that authorized this operation in accordance with the domestic legislation of the non-Party.

  • Sale For value received, Seller hereby conveys to Purchaser, without recourse, all right, title and interest, whether now owned or hereafter acquired, in and to the Mortgage Loans identified on Exhibit 1 (the “Mortgage Loan Schedule”) to the Mortgage Loan Purchase Agreement, dated December 14, 2018 (the “Mortgage Loan Purchase Agreement”), between Seller and Purchaser and all of the following property:

  • Night Differential Employees whose weekly work schedules consist of regularly scheduled night tours shall receive a night differential of ten percent (10%) of their Adjusted Rate. Employees who work fewer than five (5) night tours in a calendar week shall be paid a differential equal to one-fifth (1/5) of the night differential for each scheduled tour so worked.

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