Newbuild Equity Pool definition
Newbuild Equity Pool means 0.50% of the New Valaris Equity, subject to dilution on account of the Management Incentive Plan and the New Warrants, as applicable, which shall be issued to the Shipyard if the Shipyard votes in favor of the Plan.
Newbuild Equity Pool means 0.50% of the New Valaris Equity, subject to dilution on account of the Management Incentive Plan and the New Warrants, as applicable, which shall be issued to the Shipyard if the Debtors and the Shipyard enter into a definitive agreement to amend and assume the Newbuild Contracts.