Company: RIG
Filing Date: 2025-09-26
Form Type: 424B5
Source: 0001451505-25-000102
Chunk: 72

Company: Transocean Ltd.
Filing Date: 2025-09-26
Form: 424B5
Chunk 72
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 defect or inconsistency; |

| ● | to provide for the assumption of Transocean Inc.’s obligations under the indenture by a successor upon any merger, consolidation or scheme of arrangement qualifying as an amalgamation or asset sale, lease, conveyance, transfer or other disposition of all or substantially all of Transocean Inc.’s assets, in each case as permitted under the indenture; |

| ● | to provide for uncertificated debt securities in addition to or in place of certificated debt securities or to provide for the issuance of bearer debt securities; |

| ● | to provide any security for, any guarantees of or any additional obligors on any series of debt securities; |

| ● | to comply with any requirement to effect or maintain the qualification of that indenture under the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”); |

| ● | to add covenants that would benefit the holders of any debt securities or to surrender any rights Transocean Inc. has under the indenture; |

| ● | to add events of default with respect to any debt securities; |

| ● | to make any change that does not adversely affect any outstanding debt securities of any series issued under that indenture in any material respect; provided, that any change made solely to conform the provisions of the indenture to a description of debt securities in a prospectus supplement will not be deemed to adversely affect any outstanding debt securities of any series issued under that indenture in any material respect; |

| ● | to supplement the provisions of an indenture to permit or facilitate defeasance or discharge of securities that does not adversely affect any outstanding debt securities of any series issued under that indenture in any material respect; and |

| ● | to evidence and provide for the appointment of a successor trustee. |

The holders of a majority in principal amount of the outstanding debt securities of any series (or, in some cases, of all debt securities issued under the applicable indenture that are affected, voting as one class) may waive any existing or past default or event of default with respect to those debt securities. Those holders may not, however, waive any default or event of default in any payment on any debt security or compliance with a provision that cannot be amended or supplemented without the consent of each holder affected.

9

Defeasance. When Transocean Inc. uses the term defeasance, it means discharge from some or all of its obligations under an indenture. Transo