Decommissioned Rig definition

Decommissioned Rig means a Rig, whether or not operable, which the Borrowers have completely and permanently ceased operating, maintaining and marketing.
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Decommissioned Rig means a Rig, whether or not operable, which the Borrowers have completely and permanently ceased operating, maintaining and marketing. “Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. “Default Excess” means, with respect to any Defaulting Lender, the excess, if any, of such Defaulting Lender’s Applicable Percentage of the aggregate outstanding principal amount of all Loans, over the aggregate outstanding principal amount of all Loans of such Defaulting Lender. “Defaulting Lender” means any Lender that has at any time after the Effective Date (a) defaulted in its obligation under this Agreement to make a Loan or to fund its participation in any Letter of Credit or Swingline Loan required to be made or funded by it hereunder within three Business Days of the date when due (unless such failure is the subject of a good faith dispute), (b) failed to pay over to the Administrative Agent or any Lender any other amount required to be paid by it hereunder within three (3) Business Days of the date when due (unless such failure is the subject of a good faith dispute), (c) notified the Administrative Agent or a Loan Party in writing that it does not intend to satisfy any such obligation or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or under agreements in which it commits to extend credit generally, unless such Lender has delivered a subsequent written statement to the Administrative Agent ratifying and confirming its funding obligations under this Agreement, (d) failed within three (3) Business Days after the request of the Administrative Agent to confirm that it will comply with the terms of this Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit and Swingline Loans, unless such Lender has delivered a subsequent written statement to the Administrative Agent ratifying and confirming its funding obligations under this Agreement, (e) (i) been (or has a parent company that has been) determined by any Governmental Authority having regulatory authority over such Person or its assets to be insolvent, or the assets or management of which has been taken over by any Governmental Authority, or (ii) become (or has
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Related to Decommissioned Rig

  • Retained Rights has the meaning set forth in Section 2.2.

  • Historic property means any prehistoric or historic site, district, building, object, or other real or personal property of historical, architectural, or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts, or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government, and culture of Florida.

  • Assigned Rights means all of the Borrower’s rights, easements, privileges, tenements, hereditaments, contracts, claims, licenses or other interests, whether presently existing or arising in the future. The Assigned Rights include all of the Borrower’s rights in and to:

  • Unassigned Rights means the Governmental Lender’s rights to reimbursement and payment of its fees, costs and expenses and the Rebate Amount under Section 2.5 of the Borrower Loan Agreement, its rights to attorneys’ fees under Sections 5.11, 5.13, 5.14 and 5.15 thereof, its rights to indemnification under Sections 5.15 and 9.1.4 thereof, its rights of access under Section 5.17 thereof, its rights to receive notices, reports and other statements and its rights to consent to certain matters, including but not limited to its right to consent to amendments to this Funding Loan Agreement, the Borrower Loan Agreement and the Regulatory Agreement, and otherwise as provided in this Funding Loan Agreement and the Borrower Loan Agreement and the Governmental Lender’s indemnification, consent and enforcement rights and rights to payment of fees, costs and expenses under the Regulatory Agreement.

  • Decontamination means a procedure whereby health measures are taken to eliminate an infectious or toxic agent or matter on a human or animal body surface, in or on a product prepared for consumption or on other inanimate objects, including conveyances, that may constitute a public health risk;

  • Assessed Property means any Parcel within the District against which an Assessment is levied.

  • Abandoned property means personal property left by an owner who intentionally

  • Public Property means any and all property owned by the City or held in the name of the City by any of the departments, commissions or agencies within the City government.

  • Contaminated site means a site where there is a confirmed presence, caused by man, of hazardous substances of such a level that they pose a significant risk to human health or the environment taking into account current and approved future use of the land;

  • Taxable Public Property means all Assessor’s Parcels of Public Property that are not exempt pursuant to Section E below.

  • Environmental Problem Property A Mortgaged Property or REO Property that is in violation of any environmental law, rule or regulation.

  • Owned Property has the meaning set forth in Section 4.10(a).

  • Covered Property is the address stated on your Agreement Coverage Summary Page. • “Domestic-grade” Items are those that were designated by the manufacturer, manufactured and marketed solely for installation and use in a residential single family dwelling.

  • Transferred Property shall have the meaning specified in Section 2.1(a) hereof.

  • Separate Business means each of the activities of the Licensee connected

  • Protected Space Operations means all Launch or Transfer Vehicle activities, ISS activities, and Payload activities on Earth, in outer space, or in transit between Earth and outer space in implementation of the IGA, MOUs concluded pursuant to the IGA, implementing agreements, and contracts to perform work in support of NASA’s obligations under these Agreements. It includes, but is not limited to:

  • Joint Property means property that is owned by 2 or more persons with rights of survivorship, and includes a tenancy by the entireties in real property, a tenancy in personal property as provided in section 1 of 1927 PA 212, MCL 557.151, a joint tenancy, a joint tenancy with rights of survivorship, and a joint life estate with contingent remainder in fee. For purposes of this part, joint property is considered to consist of a present interest and a future interest. The future interest is the right of survivorship.

  • Managed Assets means the Fund’s net assets, including assets attributable to any principal amount of any borrowings (including the issuance of commercial paper or notes) or preferred shares outstanding. For the avoidance of doubt, assets attributable to borrowings includes the portion of the Fund’s assets in a tender option bond trust of which the Fund owns the residual interest (without regard to the value of the residual interest to avoid double counting).

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Non-Public Works and Improvements means all competitively solicited procurement of Supplies and/or Services by the City not solicited as Public Works.

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  • Distributed Right has the meaning set forth in the definition of “Adjustment Factor.”

  • Surplus property means excess personal property not required by any Federal agency as determined by the Administrator of the General Services Administration (GSA).

  • Harvested Material means the grain or fodder from crops of the Licensed Varieties grown from Seed or Retained Seed.

  • Common Property means any and all real and personal property and easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the Owners.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.