TODCO Business definition

TODCO Business has the meaning set forth in the Master Separation Agreement.
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TODCO Business means the following businesses and activities (including, without limitation, those conducted prior to the date of this Agreement): (i) contract drilling, workover, production or similar services for oil and gas xxxxx provided by TODCO and its Subsidiaries using jackup, submersible, barge (including workover) and platform drilling rigs in the U.S. Gulf of Mexico and U.S. inland waters (including, without limitation, maintenance activities and mobilization activities (in the event such mobilization activities were undertaken in preparation for services described in clause (i) or (ii) of this Section 1.80(a)) in connection with the rigs or other assets utilized to provide such services), (ii) contract drilling, workover, production or similar services for oil and gas xxxxx provided by TODCO and its Subsidiaries in and offshore Mexico, Trinidad, Colombia and Venezuela (including, without limitation, maintenance activities and mobilization activities (in the event such mobilization activities were undertaken in preparation for services described in clause (i) or (ii) of this Section 1.80(a)) in connection with the rigs or other assets utilized to provide such services and including turnkey drilling services in Venezuela), (iii) construction activities (including construction activities involving an upgrade to, or modification of, a rig) in connection with the rigs or other assets owned by a member of the TODCO Group immediately after the IPO Closing Date (after giving effect to any transfers of assets pursuant to Section 2.1), (iv) the business and activities conducted through, and ownership of, R&B Falcon Drilling USA, Inc.'s joint venture interest in Delta Towing Holdings, LLC ("Delta Towing"), including without limitation those related to any Indebtedness of Delta Towing and its Subsidiaries owed to TODCO Group and its Subsidiaries and the operation of such business and activities by TODCO and its Subsidiaries prior to the formation of Delta Towing, (v) the business and activities conducted through, and ownership of, TODCO's investment in Energy Virtual Partners, Inc. and Energy Virtual Partners, LP (together, "Energy Virtual Partners"), (vi) the office or yard facilities (excluding the former headquarters of R&B Falcon Corporation and Reading & Xxxxx Corporation) owned or used by TODCO and its Subsidiaries to the extent related to the services and activities described in this definition, including without limitation those in Abbeville, Xxxxxxxxx, Houma and...
Sample 1
TODCO Business shall have the meaning set forth in the Separation Agreement. TODCO CLASS A COMMON STOCK. "TODCO Class A Common Stock" shall have the meaning set forth in the Separation Agreement.
Sample 1

Examples of TODCO Business in a sentence

  • Except as expressly set forth in this Agreement or in an Ancillary Agreement, TODCO, Transocean Holdings and Transocean understand and agree that no member of the Transocean Group is representing or warranting to TODCO or any member of the TODCO Group in any way as to the TODCO Business or the TODCO Liabilities.

  • Transocean Business" means any business of Transocean and its Subsidiaries other than the TODCO Business.

  • Except as provided in Section 2.5, TODCO shall be liable for any Other Tax attributable to the TODCO Business, and Holdings shall indemnify TODCO and its Subsidiaries for any Other Tax that is not attributable to the TODCO Business.

  • Prior Transfer" means a transfer prior to the Exchange of any part of the TODCO Business contained in the Transocean Group to the TODCO Group and an assumption prior to the Exchange Date by the TODCO Group of any of the TODCO Liabilities, and the transfer prior to the Exchange of any part of the Transocean Business contained in the TODCO Group to the Transocean Group and an assumption prior to the Exchange by the Transocean Group of any of the TODCO Excluded Liabilities.

  • TODCO and its Subsidiaries shall retain all cash and cash equivalents generated by the TODCO Business following June 30, 2003.

  • Transocean Holdings hereby grants to TODCO a perpetual, worldwide, non-exclusive, royalty free license, with the right to sublicense only to members of the TODCO Group, to use the Licensed Intellectual Property for the purpose of enabling the TODCO Group to conduct the TODCO Business.

  • With respect to matters relating to the TODCO Business, TODCO shall have sole authority in perpetuity to determine whether to assert or waive any or all Privileges, and Transocean shall take no action (or permit any of its Subsidiaries to take action) without the prior written consent of TODCO that could result in any waiver of any Privilege that could be asserted by TODCO or any of its Subsidiaries under applicable Law and this Agreement.

  • In furtherance of the foregoing, any asset transferred pursuant to this Section 2.8 to a member of the TODCO Group shall be deemed an asset of the TODCO Business, and any asset transferred to a member of the Transocean Group shall be deemed an asset of the Transocean Business.

  • TODCO shall be liable for all Foreign Income Taxes imposed by the Republic of Trinidad and Tobago that are attributable to the TODCO Business, regardless of whether such Taxes relate to a period, or portion thereof, ending on or before the IPO Closing Date.

  • On or about January 1, 2003, liabilities for the account balances under the Transocean U.S. Savings Plan for existing employees who were employed in the TODCO Business, and assets associated with those liabilities, were transferred to the TODCO Savings Plan, and liabilities for the account balances under the TODCO Savings Plan for existing employees who were employed in the Transocean Business, and assets associated with those liabilities, were transferred to the Transocean U.S. Savings Plan.


More Definitions of TODCO Business

TODCO Business means the following businesses and activities (including, without limitation, those conducted prior to the date of this Agreement):
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Related to TODCO Business

  • Micro Business means a company which either:

  • SpinCo Business has the meaning set forth in the Separation and Distribution Agreement.

  • Transferred Business has the meaning ascribed to such term in the Separation Agreement.

  • Parent Business has the meaning set forth in the Separation and Distribution Agreement.

  • Retained Business means any business now, previously or hereafter conducted by Seller or any of its Subsidiaries or Affiliates other than the Business.

  • Alarm business means the business by any individual, partnership, corporation, or other entity of selling, leasing, maintaining, servicing, repairing, altering, replacing, moving or installing any alarm system or causing to be sold, leased, maintained, serviced, repaired, altered, replaced, moved or installed any alarm system in or on any building, structure or facility.

  • Generation Business means the licensed business (if any) of the Licenseeand any affiliate or related undertaking of the Licensee in the generation of electricity or the provision of Ancillary Services;

  • Excluded Business means a Business excluded from application for an Inter- Community Business Licence and includes those Businesses referred to in Schedule A attached hereto and forming part of this bylaw.

  • Minority Business means a business:

  • food business means any undertaking, whether for profit or not and whether public or private, carrying out any of the activities related to any stage of production, processing and distribution of food;

  • Excluded Businesses has the meaning set forth in Schedule 1.

  • Retained Businesses means all businesses, operations and activities directly or indirectly conducted or formerly conducted by the Seller Group other than the Business (including all businesses, operations and activities related to any dealerships sold or disposed of prior to the date hereof).

  • Specified Business means a business of a kind prescribed by the regulations to be a specified business; tenant, in relation to a lease, means the person who, under the lease, is or would be entitled to occupy the premises the subject of the lease; Tribunal means the State Administrative Tribunal;

  • Cannabis business means any business activity involving cannabis, including but not limited to cultivating, transporting, distributing, manufacturing, compounding, converting, processing, preparing, storing, packaging, delivering, testing, dispensing, retailing and wholesaling of cannabis, of cannabis products or of ancillary products and accessories, whether or not carried on for gain or profit.

  • Company Business means the business of the Company as presently conducted.

  • Auto business means the business or occupation of selling, repairing, servicing, storing or parking "autos".

  • 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.

  • Supply Business means the licensed business of the Licensee and anyaffiliate or related undertaking of the Licensee as a Supplier but shall not include the business carried out by the Board in its capacity as public electricity supplier;

  • the two businesses means the FNZ business and the GBST business;

  • Licensed Business means the activities connected with the conveyance of

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Subject Business means the policy or policies that are

  • Distribution Business means the business of operating and maintaining a distribution system for supplying electricity in the area of the supply of the Distribution Licensee;

  • food business operator means the natural or legal persons responsible for ensuring that the requirements of food law are met within the food business under their control;

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which –

  • Relevant Business means any business or part thereof howsoever carried on involving the supply of Restricted Goods and/or Services;