Marketed Rig definition

Marketed Rig means a Rig that is (a)(i) operating under or otherwise subject to a valid third-party drilling contract, drilling services agreement, charter or similar agreement or (ii) actively marketed for employment and (b) not classified in the most recent of (i) the fleet status report most recently posted to the Parent’s website or (ii) Fleet Status Certificate most recently delivered, as cold stacked, held for sale, or another non-marketable classification, as mutually agreed between the Parent and Administrative Agent. Notwithstanding the foregoing, the Ocean Onyx Rig shall also be deemed to constitute a “Marketed Rig” for a period of twelve (12) months after the Effective Date.
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Marketed Rig means a Rig owned by a Loan Party that is actively marketed for employment, and that is not classified in the most recent of (a) the fleet status report most recently posted to Holdings’ website or (b) the Fleet Status Certificate most recently delivered, as stacked, held for sale, or another non-marketable classification; provided that, for the avoidance of doubt, each Contracted Rig shall constitute a Marketed Rig. Notwithstanding the foregoing, Holdings may designate any Rig that is actively being marketed for employment, but which is listed as stacked or another non-marketable classification on its most recently delivered fleet status report or Fleet Status Certificate, as a “Marketed Rig”; provided that (i) no more than three such Rigs may be designated as Marketed Rigs at any one time and (ii) no such Rig may be designated as a Marketed Rig for longer than 180 days before such Rig either (x) is listed with a marketable classification on a published fleet status report or a Fleet Status Certificate delivered to the Administrative Agent or (y) ceases to be designated as a Marketed Rig.
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Marketed Rig means a Rig that is wholly owned by the Parent, any of its Subsidiaries, or any Local Content Entity and that is not classified in the most recent of (a) the fleet status report most recently posted to the Parent’s website and (b) the Fleet Status Certificate
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Examples of Marketed Rig in a sentence

  • Permit, at each fiscal quarter end, the ratio of (A) the Rig Value of the Marketed Rigs directly wholly owned by the Loan Parties to (B) the sum of (1) the aggregate Commitments and (2) any other Debt of any Loan Party that directly owns a Marketed Rig that is not contractually subordinated to the Obligations, to be less than 3.00 to 1.00.


More Definitions of Marketed Rig

Marketed Rig means a Rig that is wholly owned by the Parent, any of its Subsidiaries, or any Local Content Entity and that is not classified in the most recent of (a) the fleet status report most recently posted to the Parent’s website and (b) the Fleet Status Certificate most recently delivered, as preservation stacked, cold stacked, held for sale or held at a shipyard without title having passed to the Parent, any Subsidiary, or any Local Content Entity, or another non-marketable classification as mutually agreed between the Administrative Agent and the Parent.
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Marketed Rig means a Rig that is wholly owned by the Parent Guarantor, any of its Subsidiaries or any Local Content Entity and that is not classified in the most recent of (a) the fleet status report most recently posted to Noble Parent Company’s website or (b) the Fleet Status Certificate most recently delivered, as preservation stacked, cold stacked, held for sale or held at a shipyard without title having passed to the Parent Guarantor, any Subsidiary or any Local Content Entity or another non-marketable classification as mutually agreed between the Administrative Agent and the Parent Guarantor. In no event will any Rig owned by Bully 1 or Bully 2 constitute “Marketed Rigs” unless Bully 1 or Bully 2, as applicable, become wholly-owned (other than directors’ qualifying shares) Subsidiaries of Parent Guarantor.
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Related to Marketed Rig

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

  • Licensed Rights means the rights granted to You subject to the terms and conditions of this Public License, which are limited to all Copyright and Similar Rights that apply to Your use of the Licensed Material and that the Licensor has authority to license.

  • Related Rights has the meaning set forth in Section 1.1 of the Purchase and Sale Agreement.

  • associated rights means all rights to payment or other performance by a debtor under an agreement which are secured by or associated with the object;

  • Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

  • All-terrain type I vehicle means the same as that term is defined in Section 41-22-2.

  • Restricted rights, as used in this clause, means the rights of the Government in restricted computer software, as set forth in a Restricted Rights Notice of paragraph (g) if included in this clause, or as otherwise may be provided in a collateral agreement incorporated in and made part of this contract, including minor modifications of such computer software.

  • Bundled Product means Product sold together with any other product(s) or service(s) at a single unit price, whether packaged together or separately, and which other product(s) or service(s) have material independent value from Product itself.

  • Roll-on product means any antiperspirant or deodorant that dispenses active ingredients by rolling a wetted ball or wetted cylinder on the affected area.

  • Manufactured or “Manufacturing” means all activities related to the manufacture of a Compound, including planning, purchasing, manufacture, processing, compounding, storage, filling, packaging, waste disposal, labeling, leafleting, testing, quality assurance, sample retention, stability testing, release, dispatch and supply, as applicable.

  • Company Product means any product or service designed, developed, manufactured, marketed, distributed, provided, licensed, or sold at any time by the Company.

  • Free product means a contaminant that is present as a non-aqueous phase liquid for chemicals whose melting point is less than 30° C (e.g., liquid not dissolved in water).

  • Combination Product means (a) a product containing a Licensed Product together with one or more other active ingredients that have independent biologic or chemical activity when present alone that are sold as a single unit, or (b) a Licensed Product together with one or more products, devices, pieces of equipment or components thereof, that are sold as a single package at a single price.

  • Repurchased Receivable means a Receivable purchased by Santander Consumer pursuant to Section 3.4 of the Purchase Agreement or by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement.

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

  • Licensed Site means a place in any authorised street at which street trading may be engaged in by a Licence Holder, and includes any temporary alternative place approved by the Council or a duly authorised Officer of the Council.

  • Recycled product means a product containing recovered material, or post-consumer recovered material, or both.

  • Excluded Receivable means all indebtedness and other obligations owed to Originator or in which Originator has a security interest or other interest (including, without limitation, any indebtedness, obligation or interest constituting an account, chattel paper, instrument or general intangible) arising in connection with the sale of merchandise or the rendering of services by Originator and further includes, without limitation, the obligation to pay any Finance Charges with respect thereto:

  • Company Products means each product (including any hardware, Software and firmware product) or service developed, manufactured, sold, licensed, leased or delivered by the Company or any of its Subsidiaries.

  • Spray buff product means a product designed to restore a worn floor finish in conjunction with a floor buffing machine and special pad.

  • Limited Right means the right to receive an amount of cash based upon the terms set forth in Section 9.

  • Tobacco product means any substance containing tobacco leaf, including but not limited to, cigarettes, cigars, pipe tobacco, hookah tobacco, snuff, chewing tobacco, dipping tobacco, bidis, blunts, clove cigarettes, or any other preparation of tobacco; and any product or formulation of matter containing biologically active amounts of nicotine that is manufactured, sold, offered for sale, or otherwise distributed with the expectation that the product or matter will be introduced into the human body by inhalation; but does not include any cessation product specifically approved by the U.S. Food and Drug Administration for use in treating nicotine or tobacco dependence.

  • U.S.-made end product means an article that⎯

  • Accessory dwelling unit means a habitable living unit added to, created within, or detached from a primary single-family dwelling and contained on one lot.

  • Transferred Receivable means a Purchased Receivable or a Contributed Receivable.

  • Manufactured end product means any end product in product and service codes (PSCs) 1000-9999, except—