Drilling Charter definition

Drilling Charter has the meaning given to it in Clause 16.22(a).
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Drilling Charter means a contract for the provision of drilling services in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders) entered into between the Charterer and the Borrower not later than five Business Days prior to the Utilisation Date.
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Examples of Drilling Charter in a sentence

  • If the Owner is required by the terms of the Shipbuilding Contract to accept delivery of the Vessel from the Builder, then the Owner will exercise all rights it has under the Drilling Charter in place at such time to require the Charterer to take delivery of the Vessel under such Drilling Charter.

  • A certified copy of the Drilling Charter and any Charterer Parent Guarantee and duly executed and, where necessary, notarised, legalised and/or apostilled and copies of all other documents referred to in Clause 16.22(b).

  • If a Drilling Charter has been entered into, evidence from the Account Bank that the amount of US$25,000,000 has been paid into the Debt Service Reserve Account in accordance with Clause 12.8(a).

  • If the Borrower is required by the terms of the Shipbuilding Contract to accept delivery of the Vessel from the Builder, then the Borrower will exercise all rights it has under the Drilling Charter in place at such time to require the Charterer to take delivery of the Vessel under such Drilling Charter.

  • If a Drilling Charter has been entered into evidence from the Equity Account Bank that the required Equity Collateral has been placed in the Equity Account in accordance with Clause 12.2(a)(iii)(C).

  • Evidence that (i) the Vessel Drilling Charter Date has occurred or (ii) the Vessel and Sister Vessel Drilling Charter Date has occurred.

  • If the Owner is required by the terms of the Shipbuilding Contract to accept delivery of the Vessel from the Builder, then the Owner will exercise, or will procure that Ocean Rig (as time charterer under the OCR Time Charter) or the Bareboat Charterer as relevant exercises all rights it has under the Drilling Charter in place at such time to require the Charterer to take delivery of the Vessel under such Drilling Charter.

  • If the Owner is required by the terms of the Shipbuilding Contract to accept delivery of the Vessel from the Builder, then the Owner will exercise, or will procure that (during the Bareboat Charter Period) the Bareboat Charterer exercises all rights it has under the Drilling Charter in place at such time to require the Charterer to take delivery of the Vessel under such Drilling Charter.

  • If the Vessel and Sister Vessel Drilling Charter Date has occurred, evidence from the Account Bank that the amount of US$25,000,000 has been paid into the Debt Service Reserve Account in accordance with Clause 12.8(a).

  • If the Vessel and Sister Vessel Drilling Charter Date has occurred, evidence from the Equity Account Bank that the required Equity Collateral has been placed in the Equity Account in accordance with Clause 12.2(a)(iii)(C).

Related to Drilling Charter

  • CFA Charter means the charter earned through the Chartered Financial Analyst program prepared and administered by the CFA Institute and so named on the day this Instrument comes into force, and every program that preceded that program, or succeeded that program, that does not have a significantly reduced scope and content when compared to the scope and content of the first-mentioned program;

  • Joint Operating Agreement (JOA) means the operating and participating agreement between the Parties constituting the Contractor that governs their operational activities, obligations and responsibilities under this Contract,

  • Operating Agreement means this Operating Agreement as originally executed and as amended from time to time.

  • Training Agreement means an agreement registered under the provisions of the Industrial and Commercial Training Act 1985.

  • Bareboat Charter means the bareboat charter agreement to be executed by the Effective Date by the Borrower as owner and the Charterer as bareboat charterer.