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

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

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

  • Fixed Assets means Equipment and Real Estate.

  • 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.