Rig Assets definition

Rig Assets means: (a) the machinery, equipment, spare parts, inventory and consumable supplies, whether on board a Rig, onshore or on order, relating exclusively to any one or more of the Rigs; and (b) the Rig Spare Parts, except in each case for such assets that were taken out of service, consumed or replaced prior to Completion in the Ordinary Course;
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Rig Assets means certain workover rigs and other equipment, as more particularly described in Schedule A attached to Amendment No. 8.
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Examples of Rig Assets in a sentence

  • The term “Newco” means the entity formed to hold, directly or indirectly, all or substantially all of the Mat Jackup Rig Assets.

  • The term “Purchaser” means one or more third-parties unaffiliated with the Company which acquire the Mat Jackup Rig Assets in a Sale of Assets.

  • The term “Sale of Assets” shall refer to a transaction or series of transactions consummated prior to the Newco Transaction Date in which the Company sells or otherwise transfers to one or more third-parties unaffiliated with the Company all or substantially all of the Mat Jackup Rig Assets.

  • If such inspection confirms that the Triton Rig Assets do not meet the Asset Put Condition, then the Meridian Group shall satisfy the unpaid Net Cumulative Balance and Other Meridian Obligations by making the Meridian Cash Payment described in Section 1.3.3(a)(i) above.

  • The Meridian Group hereby authorizes Orion at any time and from time to time to file in any applicable Uniform Commercial Code jurisdiction any initial financing statement and amendments thereto that indicate the security interest granted hereunder to Orion in the Triton Rig Assets.

  • Within ten (10) day of any move or change in location of the Triton Rig Assets or at such other times as Meridian may request, Orion agrees to provide Meridian with a written notice describing in reasonable detail the location or site to which such Triton Rig Assets are being moved (including, without limitation, the state, city, and county of any such site) and the full legal names, physical addresses, email addresses, and phone numbers of all owners of such location or site.

  • Subject to Section 1.3.3(a) above, the Put Option may be exercised by the Meridian Group at any time within fifteen (15) days after the CIT Maturity Date by delivery of a put option notice (a “Put Option Notice”) to Orion or its designee stating the date on which the transfer of title to the Triton Rig Assets shall occur, which date shall in no event be more than ten (10) days after the date of such Put Option Notice (the “Option Settlement Date”).

  • The appropriate Rig Assets (including drill pipe and collars) shall be designated on Exhibit A to the Lease Agreement and the drilling contract which the Seller is performing at such time shall be appropriately referenced on Exhibit B to the Lease Agreement.

  • No Person providing any materials or services to either Loan Party has filed, or threatened to file, a mechanics’, materialmen’s, repairmen’s or other like Lien on any Drilling Rig Assets.

  • In lieu of Table 4-4, the designer can calculate the anticipated depth of flow in the overflow system independently.

Related to Rig Assets

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Subject Assets is defined in Section 2.2(c).

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Underlying Assets With respect to a Loan, any property or other assets designated and pledged as collateral to secure repayment of such Loan, including, without limitation, to the extent provided for in the relevant Underlying Instruments, a pledge of the stock, membership or other ownership interests in the related Obligor and all Proceeds from any sale or other disposition of such property or other assets.

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

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

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Acquisition Assets With respect to an Acquisition, the aggregate net assets as of the effective date of such Acquisition of all Acquired Funds.

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • IP Assets means all Intellectual Property owned or used by or purported to be owned or used by the Group Companies.

  • Divestiture Assets means all of Defendants’ rights, titles, and interests in and to:

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Gross Assets means the total of fixed assets and current assets;

  • Fixed Assets means Equipment and Real Estate.

  • Qualified Assets means any of the following assets: (i) interests, rights, options, warrants or convertible or exchangeable securities of the Partnership; (ii) Debt issued by the Partnership or any Subsidiary thereof in connection with the incurrence of Funding Debt; (iii) equity interests in Qualified REIT Subsidiaries and limited liability companies (or other entities disregarded from their sole owner for U.S. federal income tax purposes, including wholly owned grantor trusts) whose assets consist solely of Qualified Assets; (iv) up to a one percent (1%) equity interest in any partnership or limited liability company at least ninety-nine percent (99%) of the equity of which is owned, directly or indirectly, by the Partnership; (v) cash held for payment of administrative expenses or pending distribution to security holders of the General Partner or any wholly owned Subsidiary thereof or pending contribution to the Partnership; and (vi) other tangible and intangible assets that, taken as a whole, are de minimis in relation to the net assets of the Partnership and its Subsidiaries.

  • Excluded Assets has the meaning set forth in Section 2.02.

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Specified Assets the following property and assets of such Grantor:

  • Transferred Asset means each asset, including any Loan Asset and Substitute Loan Asset (including, if any, the Participation thereof), Conveyed by the Seller to the Purchaser hereunder, including with respect to each such asset, all Related Property; provided that the foregoing will exclude the Retained Interest and the Excluded Amounts.

  • Combined Assets means the sum of Fund Assets and Other Assets; and

  • Midstream Assets means (i) assets used primarily for gathering, transmission, storage, processing or treatment of natural gas, natural gas liquids or other hydrocarbons or carbon dioxide and (ii) equity interests of any Person that has no substantial assets other than assets referred to in clause (i).

  • Restricted Assets means all licenses, permits, franchises, approvals or other authorizations from any Governmental Authority from time to time granted to or otherwise held by the Company to the extent the same constitute “Excluded Assets” under (and as defined in) the Senior Lien Documents or the Junior Lien Documents or are similarly carved out from the granting clause or the collateral thereunder.