Rig Utilization Ratio. The Borrowers will maintain a Rig Utilization Ratio, measured for the six-month period ending as of the last day of each calendar month, of no less than 75%.
Appears in 3 contracts
Sources: Credit Agreement (Independence Contract Drilling, Inc.), Credit Agreement (Independence Contract Drilling, Inc.), Credit Agreement (Independence Contract Drilling, Inc.)
Rig Utilization Ratio. The Borrowers will maintain a Rig Utilization Ratio, measured for the six-month period ending as of the last day of each calendar month, of no less than 7580%.
Appears in 1 contract
Sources: Credit Agreement (Independence Contract Drilling, Inc.)