Examples of Satisfactory Drilling Contract in a sentence
Each Borrower shall, and the Parent shall procure that all Intra-Group Charterers shall (to the extent applicable), hold full legal title to and own the entire beneficial interest in the Drillships, any Satisfactory Drilling Contract, the Intra-Group Charterparties, the Insurances and their Earnings, free of any Security Interest and other interests and rights of every kind, except for those created by the Finance Documents and as set out in Clause 23.7 (Negative pledge).
Amounts under the Revolving Facility shall be available for re-borrowing subject to a new Satisfactory Drilling Contract which is entered into within 6 months thereafter.
The copies of the Building Contract and the Satisfactory Drilling Contract delivered to the Facility Agent before the date of this Agreement are true and complete copies.
No Obligor shall, without the prior written consent of the Majority Lenders, terminate or make any material amendments to the Shipbuilding Contract or any Satisfactory Drilling Contract to which it is a party.
The Drillship shall be employed under the Satisfactory Drilling Contract and no No Obligor shall, without the prior written consent of all the Majority Lenders, terminate or make any amendments to the Satisfactory waive any right under the Total Drilling Contract.