English to Arabic Tech/Engineering Energy / Power Generation

COMPANY shall, in addition to all other payments required hereunder, pay to CONTRACTOR the depreciated value of CONTRACTOR'S uninsured sub- surface equipment lost or damage in the hole below the rotary table by reason of in-hole difficulties such as stuck pipe, lost circulation or blow out, unless such in hole difficulties are occasioned by or as the result of negligence of CONTRACTOR, its agents, servants or employees. For the purpose of this CONTRACT, Reimbursement for replacement of CONTRACTOR's down hole equipment (including drill pipe, drill collars, subs, fishing tools and other drill string equipment) shall be limited to CONTRACTOR's landed replacement value. The replacement cost shall be reimbursed less depreciation which shall be calculated from the substantiated date of original purchasing invoice at the rate of 1,5% (one and half percent) per month applied to such replacement cost up to a maximum of 50% (fifty percent)..