Transocean Business definition
Examples of Transocean Business in a sentence
Except as expressly set forth in this Agreement or in an Ancillary Agreement, Transocean, Transocean Holdings and TODCO understand and agree that no member of the TODCO Group is representing or warranting to Transocean or any member of the Transocean Group in any way as to the Transocean Business or the TODCO Excluded Liabilities.
Transocean Business" means any business of Transocean and its Subsidiaries other than the TODCO Business.
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.
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.
Prior Transfer" means a transfer prior to the Exchange Date 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 Date of any part of the Transocean Business contained in the TODCO Group to the Transocean Group and an assumption prior to the Exchange Date by the Transocean Group of any of the TODCO Excluded Liabilities.
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.