Common use of Alterations, Modifications and Additions Clause in Contracts

Alterations, Modifications and Additions. PDC shall, at its sole expense, make any alterations and modifications in and additions to the Rigs as required by any relevant governmental authority or as deemed necessary by PDC, whether upon the recommendation of any manufacturer or otherwise, for the safe operation of the Rigs (any alteration, modification, or addition required or deemed necessary is herein called a "Required Modification"). In addition, PDC shall, at its sole expense, make other alterations and modifications in and additions to the Rigs as it deems necessary or prudent to properly conduct its business (any alteration, modification, or addition deemed desirable is herein called an "Optional Modification"); but (I) any Required Modification shall be expeditiously completed in a good and workmanlike manner, in compliance with all applicable legal requirements; and (ii) no Optional Modification shall diminish the value or utility of any Rig or impair its operating condition below its value, utility, and operating condition immediately before the Optional Modification, assuming that the Rig was then of the value or utility and in the operating condition required under this Security Agreement. All parts incorporated or installed in or attached to any Rig as a result of any alteration, modification, or addition which are not readily removable without damage to the Rig shall, without necessity of further act, become part of the Rig for all purposes hereof and subject to the security interest granted herein.

Alterations, Modifications and Additions. PDC shall, at its At their sole expense, make any such alterations and modifications in and additions to the Rigs Equipment as may be required from time to time by any relevant governmental authority Governmental Authority or as may be deemed necessary from time to time by PDCParent or the Borrowers, whether upon the recommendation of any manufacturer or otherwise, for the purpose of the safe operation of the Rigs Equipment (any such alteration, modification, modification or addition as may be so required or so deemed necessary is being herein called a "Required Modification"). In addition, PDC shallthe Borrowers, at its their sole expense, may from time to time make such other alterations and modifications in and additions to the Rigs Equipment as it deems necessary Parent or prudent to properly Borrowers may deem desirable in the proper conduct its of their business (any such alteration, modification, modification or addition as may be so deemed desirable is being herein called an "Optional Modification"); but provided, however, that (Ii) any Required Modification shall be expeditiously completed in a good and workmanlike manner, in compliance with all material legal requirements applicable legal requirements; thereto, and (ii) no Optional Modification shall diminish the value or utility of any Rig item of Equipment or impair its the operating condition thereof below its the value, utility, utility and operating condition thereof immediately before the prior to such Optional Modification, assuming that the Rig such item of Equipment was then of the value or utility and in 78 80 the operating condition required under to be maintained by the terms of this Security Agreement. All parts incorporated or installed in or attached to any Rig item of Equipment composing Collateral as a result of any alteration, modification, modification or addition which are not readily removable without damage to the Rig such item of Equipment shall, without necessity of further act, become part of the Rig such item of Equipment for all purposes hereof and subject to the security interest granted herein.

Alterations, Modifications and Additions. PDC shallThe Debtor, at its sole expense, will make any such alterations and modifications in and additions to the Rigs as may be required from time to time by any relevant governmental authority or as may be deemed necessary from time to time by PDCthe Debtor, whether upon the recommendation of any manufacturer or otherwise, for the purpose of the safe operation of the Rigs (any such alteration, modification, modification or addition as may be so required or so deemed necessary is being herein called a "Required Modification"). In addition, PDC shallthe Debtor, at its sole expense, may from time to time make such other alterations and modifications in and additions to the Rigs as it deems necessary or prudent to properly the Debtor may deem desirable in the proper conduct of its business (any such alteration, modification, modification or addition as may be so deemed desirable is being herein called an "Optional Modification"); but provided, however, that (Ii) any Required Modification shall be expeditiously completed in a good and workmanlike manner, in compliance with all legal requirements applicable legal requirements; thereto, and (ii) no Optional Modification shall diminish the value or utility of any Rig or impair its the operating condition thereof below its the value, utility, utility and operating condition thereof immediately before the prior to such Optional Modification, assuming that the such Rig was then of the value or utility and in the operating condition required under to be maintained by the terms of this Security Agreement. All parts incorporated or installed in or attached to any Rig as a result of any alteration, modification, modification or addition which are not readily removable without damage to the such Rig shall, without necessity of further act, become part of the such Rig for all purposes hereof and subject to the security interest interests granted herein.

Alterations, Modifications and Additions. PDC shallThe Debtor, at its sole expense, will make any such alterations and modifications in and additions to the Rigs Equipment as may be required from time to time by any relevant governmental authority or as may be deemed necessary from time to time by PDCthe Debtor, whether upon the recommendation of any manufacturer or otherwise, for the purpose of the safe operation of the Rigs Equipment (any such alteration, modification, modification or addition as may be so required or so deemed necessary is being herein called a "Required Modification"). In addition, PDC shallthe Debtor, at its sole expense, may from time to time make such other alterations and modifications in and additions to the Rigs Equipment as it deems necessary or prudent to properly the Debtor may deem desirable in the proper conduct of its business (any such alteration, modification, modification or addition as may be so deemed desirable is being herein called an "Optional Modification"); but provided, however, that (Ii) any Required Modification shall be expeditiously completed in a good and workmanlike manner, in compliance with all legal requirements applicable legal requirements; thereto, and (ii) no Optional Modification shall diminish the value or utility of any Rig piece of Equipment or impair its the operating condition thereof below its the value, utility, utility and operating condition thereof immediately before the prior to such Optional Modification, assuming that the Rig such piece of Equipment was then of the value or utility and in the operating condition required under to be maintained by the terms of this Security Agreement. All parts incorporated or installed in or attached to any Rig piece of Equipment as a result of any alteration, modification, modification or addition which are not readily removable without damage to the Rig such piece of Equipment shall, without necessity of further act, become part of the Rig such piece of Equipment for all purposes hereof and subject to the security interest interests granted herein.

Alterations, Modifications and Additions. PDC shallThe Debtor, at its sole expense, will make any such alterations and modifications in and additions to the Rigs Equipment as may be required from time to time by any relevant governmental authority or as may be deemed necessary from time to time by PDCthe Debtor, whether upon the recommendation of any manufacturer or otherwise, for the purpose of the safe operation of the Rigs Equipment (any such alteration, modification, modification or addition as may be so required or so deemed necessary is being herein called a "Required Modification"). In addition, PDC shallthe Debtor, at its sole expense, may from time to time make such other alterations and modifications in and additions to the Rigs Equipment as it deems necessary or prudent to properly the Debtor may deem desirable in the proper conduct of its business (any such alteration, modification, modification or addition as may be so deemed desirable is being herein called an "Optional Modification"); but provided, however, that (Ii) any Required Modification shall be expeditiously completed in a good and workmanlike manner, in compliance with all legal requirements applicable legal requirements; thereto, and (ii) no Optional Modification shall diminish the value or utility of any Rig piece of Equipment or impair its the operating condition thereof below its the value, utility, utility and operating condition thereof immediately before the prior to such Optional Modification, assuming that the Rig such piece of Equipment was then of the value or utility and in the operating condition required under to be maintained by the terms of this Security Agreement. All parts incorporated or installed in or attached to any Rig piece of Equipment as a result of any alteration, modification, modification or addition which are not readily removable without damage to the Rig such piece of Equipment shall, without necessity of further act, become part of the Rig for all purposes hereof and subject to the security interest granted herein.such piece