Saudi Aramco definition

Saudi Aramco means Saudi Arabian Oil Company.
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Saudi Aramco shall have the meaning set forth in the Preamble.
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Saudi Aramco has the meaning given in the Preamble, provided that in Schedule 13 (Specifications) a reference to Saudi Aramco means Saudi Aramco Customer;
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Examples of Saudi Aramco in a sentence

  • The Accounting Policy and Records Retention Policy shall be at least as stringent and extensive in all respects as the most stringent and extensive equivalent policies adopted by either Dow or Saudi Aramco (or their Affiliates).

  • The authorized equity interests of the ARO JV consist solely of a single class of shares, of which (i) 50% are held by a direct wholly-owned Subsidiary of Rowan and, (ii) as of the date of this Agreement, 50% are held by Saudi Aramco Development Company.

  • Such license rights include the right of ASC or Saudi Aramco to further develop such software for internal use only.

  • It is expressly understood that Saudi Aramco reserves the right to prospectively revoke this freight protection at any time by giving you written notice of said revocation.

  • Subject to Applicable Law, the Saudi Aramco Founding Shareholder shall use its commercially reasonable efforts to maximize the recovery of Development Costs through the IPO.

  • Second, Saudi Aramco adjusts the [REDACTED] monthly assessment from [REDACTED] using a Saudi Aramco monthly calculated percentage factor to reflect the cost of shipping crude oil from [REDACTED].

  • For the purposes of this Section 2.9(a), the Renewed Contract shall be deemed to be on materially the same terms as the Existing Contract unless any of the Saudi Aramco Services have not been included in the Renewed Contract or there occurs a Saudi Aramco Material Price Reduction.

  • In implementing the immediately preceding sentence, the Founding Shareholders acknowledge and agree that it is their intention to cause the Company to replicate the experiences of Saudi Aramco with its high Saudization levels in the technical and management professions and, in this context, the Shareholders agree to do everything that is reasonably within their power to ensure that the Company adheres to the Local Content Policy.

  • The Board Secretary shall be appointed by the Saudi Aramco Founding Shareholder and the Assistant Board Secretary shall be appointed by the Dow Founding Shareholder for, in each case, such periods of time as the Board shall determine in accordance with Section 8.6(f) (Board Action in General).

  • Upon the sale to the PublicCo Shareholder of the PublicCo Ownership Interest, the Saudi Aramco Founding Shareholder’s Ownership Interest shall be reduced by the Ownership Interest acquired by the PublicCo Shareholder.


More Definitions of Saudi Aramco

Saudi Aramco has the meaning given in the Preamble, provided that in Schedule 13 (Specifications) a reference to Saudi Aramco means Saudi Aramco Customer; “Saudi Aramco Customer” has the meaning given to such term in the Shareholders’ Agreement; “Saudi Aramco Group” has the meaning given in Clause 7.1 (Indemnities); “SCA Survey” means a detailed Systems Condition Assessment conducted by the American Bureau of Shipping or another mutually agreed third party in accordance with the terms of reference set forth on Schedule 4 (SCA Survey Procedures), the costs of which shall be borne equally by Rowan and Saudi Aramco; “Shareholders” has the meaning given in the Preamble; 8 US-DOCS\80810184.2 Exhibit 2.1 “Shareholders’ Agreement” means that certain Shareholders’ Agreement relating to the Company, dated as of the date hereof, among Rowan, Saudi Aramco and the Company; “Shortfall Amount” means, in respect of a Replacement Rig, the difference between the Asset Contribution Value of such Replacement Rig (and its related Assets) and the Asset Contribution Value of the Rig (and its related Assets) for which such Replacement Rig is being contributed as a replacement; “Specifications” means: (i) in respect of the JB58 Rig, the material specifications set forth on Schedule 13 (Specifications); and (ii) in respect of each Rig other than the JB58 Rig, the material specifications contained in Schedule G of the Saudi Aramco Customer ‘Contract for Offshore Drilling and Workover Rig’ with respect to that Rig; “SPS” has the meaning given in Part II of Schedule 1 (Valuation of Asset Contribution); “Standard Cost” means, in respect to any item of consumable stock, a value equal to:
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Saudi Aramco has the meaning set forth in the Preamble and/or any Qualifying Affiliate of Saudi Aramco which at any given time holds Shareholder Instruments (as appropriate) and who shall, for the avoidance of doubt be treated as one (1) entity for all purposes under this Agreement (including for the purposes of determining their collective Ownership Interest and the purposes of clauses 6.1(b), 6.1(d), 6.6(b), 15 and 16);
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Saudi Aramco shall have the meaning set forth in the Preamble. “Saudi Aramco Default Price” shall mean the price payable to the Dow Founding Shareholder for the Dow Founding Shareholder’s entire Ownership Interest pursuant to Section 18.2(b)(ii) (Consequences of Events of Default) and shall be calculated as follows: [***] [***] Confidential treatment has been requested. The redacted material has been separately filed with the Commission. - 22 - [***] “Saudi Aramco Founding Shareholder” shall mean:
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