Seadrill Member definition

Seadrill Member means Seadrill Member LLC, a limited liability company, being a wholly owned Subsidiary of the Borrower, incorporated under the laws of the Republic of the Xxxxxxxx Islands.
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Seadrill Member is defined in the introduction to this Agreement.
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Seadrill Member has the meaning set forth in the opening paragraph of this Agreement.
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Examples of Seadrill Member in a sentence

  • Upon a Change of Control of the Seadrill Member or of the Company, the provisions of Articles II, III and IV, of this Agreement (but not less than all of such Articles) shall terminate immediately.

  • The Seadrill Member owns the Non-Economic Interest and the Seadrill Member owns 100% of the Incentive Distribution Rights (as defined in the Company LLC Agreement) (the “Incentive Distribution Rights”).

  • The Borrower owns (directly or indirectly) 100% of all the shares and ownership interests in each of the Guarantors (except for Seadrill Vencedor and OPCO in which the Borrower owns (directly or indirectly) at least 51% (disregarding indirect ownership though Seadrill Partners) of all the shares and ownership interests), at least 51% of all the shares and ownership interest in Seadrill Partners, and at least 100% of all the shares and ownership interests in Seadrill Member.

  • The Parties acknowledge and agree that nothing in this Section 4.1 shall prevent or restrict the Transfer of the capital stock, equity ownership interests or other securities of the Seadrill Member or the Company.

  • The Seadrill Member hereby exchanges its limited liability company interest in the Company for the IDRs and the Seadrill Member Interest.

  • The Seadrill Member Interest (which is a 0% non-economic interest) holds the rights to 100% of the IDRs and is unable to trade these until the end of the subordination period without the approval of a majority of unaffiliated common unitholders.

  • The Borrower owns (directly or indirectly) 100% of all the shares and the ownership interests in each of the Guarantors, Seadrill Partners and Seadrill Member as described in Schedule 8 (Corporate Structure) hereto.

  • The subordination period will end on the satisfaction of various tests as prescribed in the Operating Agreement of Seadrill Partners, but will not end before September 30, 2017 except upon removal of the Seadrill Member.

  • The Seadrill Member Interest and the IDRs in Seadrill Partners are accounted for as cost-method investments on the basis that they do not represent common stock interests and their fair value is not readily determinable.

  • The Liquidating Trustee (if other than the Seadrill Member) shall agree not to resign at any time without 15 days’ prior notice and may be removed at any time, with or without cause, by notice of removal approved by holders of at least a majority of the Outstanding Common Units and Subordinated Units, voting as a single class.


More Definitions of Seadrill Member

Seadrill Member means Seadrill Member LLC, a limited liability company, being a wholly (directly or indirectly) owned Subsidiary of the Seadrill Entity, incorporated under the laws of the Republic of the Marshall Islands with registration number 962166.
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Related to Seadrill Member

  • Initial Member has the meaning set forth in the introductory paragraph.

  • Tribal Member means an enrolled member of the Tribe.

  • Initial Members means those Persons whose names are set forth in the first sentence of this Agreement. A reference to an “Initial Member” means any of the Initial Members.

  • Full Member means any person who is in one of the categories of membership referred to in Rule 10.3.

  • General Member means a party, and that party’s Affiliates, that has executed this Project Charter at the General Member level, unless that General Member has withdrawn or been terminated from the Project, or has changed membership level.

  • Special Member means, upon such person’s admission to the Company as a member of the Company pursuant to Section 5(c), a person acting as Independent Director, in such person’s capacity as a member of the Company. A Special Member shall only have the rights and duties expressly set forth in this Agreement.

  • ☐ - MULTI-MEMBER The “Capital Account” for each Member shall mean the account created and maintained for the Member in accordance with Section 704(b) of the Internal Revenue Code and Treasury Regulation Section 1.704-1(b)(2)(iv).

  • Council Member means a member of the Council;

  • Principal Member means the person who signs the application and is responsible for the payment of premiums.

  • New member means a person first employed on or after Septem- ber 1, 2005, including a former member who withdrew retirement contributions under Government Code 822.003 and is reemployed on or after September 1, 2005.

  • Panel Member ’ means a member of a panel;

  • Class B Member means a Member holding one or more Class B Ordinary Shares.

  • Individual Member means a registered, financial Member of the Club who is at least 18 years of age.

  • Original member of this retirement system means:

  • Preferred Member means a Member holding Preferred Units.

  • crew member means a person assigned by an operator to duty on an aircraft during a flight duty period;

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.

  • General Partner means the Company or its successors as general partner of the Partnership.

  • Staff member means a staff member as defined in section 1(1) of the Public Service Act, 1995 (Act No. 13 of 1995);

  • Financial Member means a person who has paid the required membership fee and is listed on the Register of Members.

  • Managing Member means CEF Equipment Holding, L.L.C., a Delaware limited liability company or any successor Managing Member under the Issuer Limited Liability Company Agreement.

  • Public member means an individual who is not, and never

  • New Members As Defined By the Public Employees’ Pension Reform Act of 2013 (PEPRA)

  • Class A Member means a Member holding one or more Class A Ordinary Shares.

  • Potential Member means an individual who meets the eligibility requirements to enroll in the Oregon Health Plan but has not yet enrolled with a specific PHP or CCO.

  • Founder Member means a subscriber to these rules for the purposes of registration;