Rig Unavailability definition

Rig Unavailability means with respect to any Party (where relevant) that such Party has made a reasonable commercial effort but has been unable to enter into a contract for a suitable drilling rig that meets all of the following conditions: (i) designed, equipped, and staffed to operate in the environment in which it will be operating; (ii) designed to safely, effectively and efficiently drill to the minimum agreed depth of the applicable well; (iii) capable of performing such functions and other activities as may be reasonably necessary or desirable in connection with the drilling, logging and testing of such well; (iv) available to be on the well location within the Area to commence drilling operations within thirty (30) days of the date specified for the commencement of such drilling operations in the work program and budget approved in accordance with provisions of the JOA; and (v) may be leased under the generally accepted terms and conditions of an international drilling rig contract and providing for a contract lease rate which is not in excess of the prevailing rate for such rigs, including charges for mobilization and demobilization. Rules has the meaning set forth in Section 14.2.3.1.
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Rig Unavailability means that Syntroleum has made a reasonable commercial effort but has been unable to enter into a contract for a suitable drilling rig by the date that is one hundred and twenty (120) days before the one year anniversary date of the Approval Date that, in accordance with good international petroleum industry practices and standards, meets all of the following conditions: (a) designed, equipped, and staffed to operate in the environment in which it will be operating; (b) designed to safely, effectively and efficiently drill to the minimum agreed depth of the Initial Well, Second Well or Additional Xxxxx, as the case may be; (c) capable of performing such functions and other activities as may be reasonably necessary or desirable in connection with the drilling, logging and testing of the xxxxx; (d) available to be on the well location within the OML 113 Lease to commence drilling operations within thirty (30) days of the date specified for the commencement of such drilling operations in the work program and budget approved in accordance with provisions of the JOA; and (e) may be leased under the generally accepted terms and conditions of an international drilling rig contract and providing for a contract lease rate which is not in excess of the prevailing rate for such rigs, including charges for mobilization and demobilization.
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Examples of Rig Unavailability in a sentence

  • In addition, the obligation of Syntroleum to commence or cause to be commenced the drilling of the Initial Well may be extended by reasons of Force Majeure, Rig Unavailability or Governmental Delay.

  • The obligation of Syntroleum to commence or cause to be commenced the drilling of the Second Well may be extended by reasons of Force Majeure, Rig Unavailability or Governmental Delay.

  • In addition, the obligation of Syntroleum and the Farmees to commence drilling the Initial Well may be extended by reasons of Force Majeure, Rig Unavailability or Governmental Delay.

  • The obligation of Syntroleum and the Farmees to commence the drilling of the Second Well may be extended by reasons of Force Majeure, Rig Unavailability or Governmental Delay.

  • The obligation of Syntroleum and the Farmees to commence the drilling of an Additional Well may be extended by reasons of Force Majeure, Rig Unavailability or Governmental Delay.

Related to Rig Unavailability

  • Unavailability (or “Unavailable”) the Flexibility Services, in accordance with the Service Requirements, are not Available to be delivered to the Company; “Utilisation Instruction” an instruction by the Company to the Provider to deliver Flexibility Services;

  • Benchmark Unavailability Period means, the period (if any) (a) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14 and (b) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14.

  • Scheduled Unavailability Date has the meaning specified in Section 3.03(b).

  • Suppressed Availability means, at any time, an amount equal to the amount (if any, but in no event less than zero) by which the Borrowing Base exceeds the aggregate Revolving Commitments at such time.

  • Service Availability The total number of minutes in a calendar quarter that the Tyler Software is capable of receiving, processing, and responding to requests, excluding maintenance windows, Client Error Incidents and Force Majeure.

  • Scattered radiation means ionizing radiation emitted by interaction of ionizing radiation with matter, the interaction being accompanied by a change in direction of the radiation. Scattered primary radiation means that scattered radiation which has been deviated in direction only by materials irradiated by the useful beam.

  • Runoff coefficient means the fraction of total rainfall that will appear at the conveyance as runoff.

  • Standard Methods for the Examination of Water and Wastewater means the most recent edition of Standard Methods for the Examination of Water and Wastewater published jointly by the American Public Health Association, the American Waterworks Association and the Water Environment Federation;

  • Ramping Capability means the sustained rate of change of generator output, in megawatts per minute.

  • Transmission Reliability Margin or “TRM” shall mean the amount of transmission transfer capability necessary to provide reasonable assurance that the interconnected transmission network will be secure. TRM accounts for the inherent uncertainty in system conditions and the need for operating flexibility to ensure reliable system operation as system conditions change.

  • Weather Normalized Site EUI means the amount of Energy that would have been used by a property under 30-year average temperatures, accounting for the difference between average temperatures and yearly fluctuations.

  • Availability Block means $15,000,000.

  • Direct scattered radiation means that scattered radiation which has been deviated in direction only by materials irradiated by the useful beam (See "Scattered radiation").

  • Emergency expulsion means the removal of a student from school because the student’s statements or behavior pose an immediate and continuing danger to other students or school personnel, or an immediate and continuing threat of material and substantial disruption of the educational process, subject to the requirements in WAC 392-400-510 through 392-400-530

  • Availability and Reliability means the probability that a component shall be operationally ready to perform its function when called upon at any point in time.

  • System Availability for each System is calculated as follows:

  • Turbidity means the cloudy condition of water due to the presence of extremely fine particulate materials in suspension that interfere with the passage of light.

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Sustainability Factors means environmental, social and employee matters, respect for human rights, anti‐corruption and anti‐bribery matters.

  • Affordability average means the average percentage of median income at which restricted units in an affordable housing development are affordable to low- and moderate-income households.

  • Respiratory care means the practice of the allied health profession responsible for the direct and

  • Fertilization means the fusion of a human spermatozoon with a human ovum.

  • Stray radiation means the sum of leakage and scattered radiation.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Fluoroscopic imaging assembly means a subsystem in which X-ray photons produce a visual image. It includes the image receptor(s) such as the image intensifier and spot-film device, electrical interlocks, if any, and structural material providing linkage between the image receptor and diagnostic source assembly.

  • Availability means, as of any date of determination, the amount that Borrowers are entitled to borrow as Advances under Section 2.1 of the Agreement (after giving effect to all then outstanding Obligations (other than Bank Product Obligations)).