Contractor's In-Hole Equipment Basis Clause Samples

The "Contractor's In-Hole Equipment Basis" clause defines the terms and conditions under which equipment owned by the contractor and left in the wellbore ("in-hole") is managed during a project. Typically, this clause outlines the responsibilities for loss, damage, or retrieval of such equipment, and may specify who bears the associated costs or risks if the equipment becomes stuck or lost downhole. Its core practical function is to allocate risk and clarify financial responsibility between the contractor and the client regarding equipment that remains in the well, thereby preventing disputes and ensuring both parties understand their obligations.
Contractor's In-Hole Equipment Basis. Contractor shall assume liability at all times for damage to or destruction of Contractor's in-hole equipment, including but not limited to drill pipe, drill collars and tool joints, and the Joint Venture shall be under no liability to reimburse Contractor for any such loss.
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Related to Contractor's In-Hole Equipment Basis

  • Contractor’s Equipment The Contractor shall be responsible for all Contractor’s Equipment. The Contractor’s Equipment shall be deemed to be exclusively intended for the execution of the Works.

  • Subcontractors’ Insurance If a part of the Agreement is to be sublet, the Consulting Engineer/Architect shall either: a. Cover all subcontractors in its insurance policies, or b. Require each subcontractor not so covered to secure insurance which will protect subcontractor against all applicable hazards or risks of loss as and in the minimum amounts designated. Whichever option is chosen, Consulting Engineer/Architect shall indemnify and hold harmless the City as to any and all damages, claims or losses, including attorney's fees, arising out of the acts or omissions of its subcontractors.

  • Solicitations for Subcontractors, Including Procurements of Materials and Equipment In all solicitations either by competitive bidding or negotiation made by the contractor for work to be performed under a subcontract, including procurements of materials or leases of equipment, each potential subcontractor or supplier shall be notified by the contractor of the contractor's obligations under this contract and the Regulations relative to nondiscrimination on the grounds of race, color, or national origin, sex, age, and disability/handicap.

  • Contractor’s Insurance 27.1 The Contractor shall procure and maintain at all times it performs any portion of the Services the following insurance with minimum limits equal to the amount indicated below.

  • Condition of the Contractor’s Property or Equipment The Contractor shall make the Property and/or equipment available to the Judicial Council, pursuant to the terms and conditions set forth in this Agreement. The Contractor shall immediately remedy any problem with the Property’s physical plant or equipment that impairs or diminishes the quality of the Program. The Contractor shall ensure the appropriate hot water, heating, and ventilation is provided at the Property during the Program, inclusive in the prices set forth herein.