Satisfaction of Intercompany Receivables. Seadrill hereby agrees that, with the exception of the debt related to the West ▇▇▇▇ Acquisition Receivable, which is being transferred to Capricorn Holdings pursuant to Section 2.5, at or prior to Closing, Seadrill shall arrange for the extinguishment of the obligations of Seadrill Gulf ▇▇▇▇ and Seadrill ▇▇▇▇ Hungary, by settlement or any other manner in Seadrill’s sole discretion, in relation to all amounts payable to Seadrill and its subsidiaries by Seadrill Gulf ▇▇▇▇ and Seadrill ▇▇▇▇ Hungary.
Appears in 3 contracts
Sources: Contribution, Purchase and Sale Agreement, Contribution, Purchase and Sale Agreement (Seadrill Partners LLC), Contribution, Purchase and Sale Agreement (Seadrill Partners LLC)