Eligible Completed Drilling Rigs definition

Eligible Completed Drilling Rigs means, at any time, the Rig Fleet Equipment owned by any Borrower which the Administrative Agent determines in its Permitted Discretion is eligible as the basis for the extension of Loans and Swingline Loans and the issuance of Letters of Credit hereunder, based on such considerations as the Administrative Agent may from time to time deem appropriate. Without limiting the Administrative Agent’s discretion provided herein, Eligible Completed Drilling Rigs shall not include any Rig Fleet Equipment:
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Eligible Completed Drilling Rigs means, at any time, the Rig Fleet Equipment owned by any Borrower which the Administrative Agent determines in its Permitted Discretion is eligible as the basis for the extension of Loans and Swingline Loans and the issuance of Letters of Credit hereunder, based on such considerations as the Administrative Agent may from time to time in its Permitted Discretion deem appropriate. Without limiting the Administrative Agent’s discretion provided herein, Eligible Completed Drilling Rigs shall not include any Rig Fleet Equipment: (a) if one of the Borrowers does not have good title to such Rig Fleet Equipment or if the Borrower having title to such Rig Fleet Equipment does not have the right to subject such Rig Fleet Equipment to a Lien in favor of the Collateral Agent; (b) which is not subject to a first priority perfected security interest in favor of the Collateral Agent; (c) which is subject to any Lien other than (i) a Lien in favor of the Collateral Agent and (ii) a Permitted Encumbrance which is subordinate and junior to the Lien in favor of the Collateral Agent; (d) which consists of a partial Rig or components or materials consisting of a Rig under construction, or if such Rig Fleet Equipment does not otherwise constitute a fully constructed, functional and operable Rig; (e) which consists of Rig Accessories that are not connected or affixed to a Rig unless such Rig Accessories are otherwise included in the FLV Appraisal and are also agreed to be deemed eligible under this clause by the Administrative Agent at its sole option;
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Eligible Completed Drilling Rigs set forth in Section 1.01 of the Credit Agreement is hereby amended by amending and restating sub-clauses (n) and (o) thereof in their entirety to provide as follows:
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Related to Eligible Completed Drilling Rigs

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Commissioning test means tests applied to a distributed generation facility by the applicant after construction is completed to verify that the facility does not create adverse system impacts and performs to the submitted specifications. At a minimum, the scope of the commissioning tests performed shall include the commissioning test specified in Institute of Electrical and Electronics Engineers, Inc. (IEEE) Standard 1547 Section 5.4 "Commissioning tests".

  • Project Completion means the date, as determined by the Division after consultation with the Recipient, that operation of the Project is initiated or is capable of being initiated, whichever comes first.

  • Construction Completion Date means the Completion Date of the Construction as specified in the Statutory Declaration of Completion for the Project;

  • Target Completion Date has the meaning given such term in Section 3.3(b).

  • Commissioning Tests means all of the procedures and tests which, in accordance with the Reasonable and Prudent Standard, and in compliance with industry guidelines, practices and standards, are:

  • Commissioning Date means that date when construction of the contemplated Project is complete, and the Maintenance Term commences;

  • Final Completion Date means the date on which Final Completion occurs.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Subproject means a specific project to be carried out by an existing BE utilizing the proceeds of a Sub-loan or Investment, as hereinafter defined, fulfilling the conditions set forth in Part A of Schedule 4 to this Agreement;

  • Substantial Completion Date means the date on which Substantial Completion occurs.

  • Scheduled Commissioning Date or “SCD” of the Project shall mean [Insert Date];

  • Final Completion means the date determined and certified by A/E and Owner on which the Work is fully and satisfactorily complete in accordance with the Contract.

  • Project Completion Schedule means the progressive Project Milestones set forth in Schedule-J for completion of the Project Highway on or before the Scheduled Completion Date;

  • Power plant means a facility for the generation of

  • Completion Date means the date of completion of the Services by the Service Provider as certified by the Procuring Entity

  • Indefinite quantity contract means a fixed price contract that:

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Fixed wing turbine powered aircraft means an aircraft that:

  • Solar PV Project means the solar Photo Voltaic Power project that uses sunlight for direct conversion into electricity through Photo Voltaic technology.

  • Cannabis testing facility means an entity registered by

  • Commissioning Period has the meaning set forth in Attachment T.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Construction Completion means physical construction of a cleanup action component is complete.

  • Definite quantity contract means a fixed price contract that provides for a