Frac Fleet definition

Frac Fleet means each group consisting of fracking rigs, trucks, pumps, primary drive train for pumps (whether powered by diesel generators or natural-gas combustion turbines), a data van and other vehicles and equipment owned by one or more of the Loan Parties that, taken as a whole, (i) when deployed, is capable of providing a Customer with a typical level of hydraulic fracturing services in accordance with the applicable Commercial Agreement in any one location based upon historical operations of the Borrower and the Subsidiary Guarantors and (ii) represents, based on historical operations, on average, between 40,000 and 50,000 hydraulic horsepower.
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Frac Fleet means all equipment, vehicles, labor and materials used to perform hydraulic fracturing services as part of the exploration and production of oil, natural gas and related products.
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Examples of Frac Fleet in a sentence

  • Each of the individual Frac Fleets that is idle as of the Effective Date is being maintained in accordance with the Frac Fleet Preservation Program.

  • Within thirty (30) days after the end of each calendar month, a Frac Fleet Maintenance Report.

  • As of the Effective Date, (i) the aggregate horsepower of the Frac Fleets that are either ready for immediate deployment in accordance with the Frac Fleet Preservation Program or currently deployed meets or exceeds the Required Aggregate Horsepower Amount and (ii) the Frac Fleets satisfy the Minimum Frac Fleet Requirement.

  • In the event the Lender elects, in its sole discretion, to fund such Incremental Facility, (i) such Incremental Facility shall be accepted by the Borrower as the sole source of financing for such additional Electric Frac Fleet and funded in accordance with the terms of Section 2.01(c) and (iii) the Electric Frac Fleet financed by such Incremental Facility shall be owned by a Guarantor.

  • In the event the Lender elects, in its sole discretion, to fund such Incremental Facility, (x) such Incremental Facility shall be accepted by the Borrower as the sole source of financing for such additional Electric Frac Fleet and funded in accordance with the terms of Section 2.01(c) and (y) the Electric Frac Fleet financed by such Incremental Facility shall be owned by a Guarantor.

  • Make such Maintenance Capital Expenditures in accordance with the Frac Fleet Preservation Program as are necessary to (A) conduct and operate its business according to good business practices, (B) maintain the Required Aggregate Horsepower Amount with respect to the Frac Fleets that are either ready for immediate deployment in accordance with the Frac Fleet Preservation Program or currently deployed, and (C) satisfy the Minimum Frac Fleet Requirement.

Related to Frac Fleet

  • Spares means a part or a sub-assembly or assembly for substitution which is ready to replace an identical or similar part or sub-assembly or assembly including a component or an accessory;

  • Flex fuel vehicle means a vehicle with one fuel storage system that can run on different mixtures of two or more fuels.

  • Net metering aggregation means a procedure for calculating

  • Vapor balance system means a combination of pipes or hoses which create a closed system between the vapor spaces of an unloading tank and a receiving tank such that vapors displaced from the receiving tank are transferred to the tank being unloaded.

  • Transport truck means a tractor truck/semitrailer combination designed or used to transport cargoes