10.5 Exports after Completion of the Services. If an Import/Export Exemption includes
an obligation to export an Import/Export Item from the Area of Operations,
Contractor shall do so when the Import/Export Item is no longer needed for the
Services.
11. CLAIMS, LIABILITIES AND INDEMNITIES
11.1 PROPERTY.
(A) GENERALLY. If damage is suffered or loss is incurred in relation to
Property of any Person where that damage or loss arises out of this
Contract, Contractor (A) releases Indemnitees from Claims by
Contractor for that damage or loss and (B) indemnifies Indemnitees
against that damage or loss and against Claims against Indemnitees by
other Persons for that damage or loss, subject to Section 11.2. Losses
contemplated by this Section 11.1 include the cost of removal of
wreckage.
(B) REIMBURSEMENT FOR DOWNHOLE EQUIPMENT.
(1) Company shall reimburse Contractor for damage to or loss of its
downhole equipment while below the rotary table if the loss or
damage is the result of causes other than any of the following:
(a) Contractor’s sole or contributory negligence.
(b) Normal wear and tear.
(c) Any defect associated with the equipment’s manufacture.
(2) The amount of this reimbursement will equal the lesser of the
following:
(a) Contractor’s actual repair cost.
(b) Contractor’s actual replacement cost plus the actual,
documented shipping and handling costs incurred by
Contractor to transport the replacement equipment to
the Area of Operations. This replacement cost must be
further reduced by both of the following:
(i) Twenty-five percent per annum depreciation of
the damaged or lost equipment’s original cost.
(ii) Any amount recoverable from Contractor’s
insurance.
11.2 INDEMNITEE’S PROPERTY. If the Property referred to in Section 11.1 is
Property of an Indemnitee, all of the following apply:
(A) Contractor shall indemnify Indemnitees against any damage or loss up
to the maximum amount of US$1,000,000 or its currency equivalent per
occurrence, regardless of cause. The maximum amount set out in this
Section 11.2(A) shall be exclusive of any defense costs and attorneys’ fees