JPMorgan Chase
Bank, N.A.
1111 Fannin Street, 10th Floor
Houston, Texas, 77002
The undersigned,
Weatherford International Ltd. (“ WIL ”), refers
to the Second Amended and Restated Credit Agreement dated as of
May 2, 2006 (as amended, restated, supplemented or otherwise
modified from time to time, the “ Credit Agreement
”) among WIL, Weatherford Liquidity Management Hungary
Limited Liability Company, Weatherford International, Inc.,
JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders
party thereto. Capitalized terms used but not otherwise defined
herein shall have the meanings specified therefor in the Credit
Agreement.
WIL hereby
notifies you, pursuant to Section 2.15 of the Credit
Agreement, that (a) it hereby requests that the aggregate
amount of the Commitments under the Credit Agreement be increased
and (b) the CI Lenders agree to provide Commitments under the
Credit Agreement. Set forth below is the information relating to
such proposed Commitment Increase as required by
Section 2.15(b) of the Credit Agreement:
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(i)
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the
proposed effective date of such increase of aggregate amount of the
Lenders’ Commitments is November 14, 2006, and such date
is not the last day of the Interest Period applicable to each
outstanding Eurocurrency Loan (by their execution of this Notice,
the Lenders waive the five (5) Business Day notice period set
forth in Section 2.15(b)(i) of the Credit
Agreement);
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(ii)
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the
aggregate amount of the requested increase of the Commitments is
$750,000,000;
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(iii)
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the
CI Lenders that have agreed with WIL to provide their respective
Commitments are [not applicable];
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(iv)
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the
Lenders that have agreed with WIL to increase their respective
Commitments are the Lenders identified on Annex I attached hereto
with an asterisk; and
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(v)
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set
forth on Annex I attached hereto is the amount of the
respective Commitments of all Lenders (including, without
limitation, the CI Lenders) as of effective date of such Commitment
Increase and after giving effect thereto.
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Delivery of an
executed counterpart of this Notice of Commitment Increase by
telecopier shall be effective as delivery of an original executed
counterpart hereof.
WEATHERFORD
INTERNATIONAL LTD.
By: /s/ Andrew
P. Becnel
Name: Andrew P. Becnel
Title: Senior Vice President
Approved and
Consented to by:
JPMORGAN CHASE
BANK, N.A.,
as Administrative Agent and Issuing Bank
By:/s/ Robert
W. Traband
Name: Robert W. Traband
Title: Vice President
LENDERS
INCREASING COMMITMENTS:
[Signatures
begin on following page]
JPMORGAN CHASE
BANK, N.A.
By:
/s/Robert W. Traband
Name: Robert W. Traband
Title: Vice President
1111 Fannin,
10 th
Floor
Houston, Texas 77002
Telephone: (713)750-2366
Telecopy: (713)427-6307
600 Travis,
20 th
Floor
Houston, Texas 77002
Telephone: (713)216-5968
Telecopy: (713)216-4117
By:
/s/ Dennis E. Petito
Name: Dennis E. Petito
Title: Managing Director
By:
/s/ Tom Byargeon
Name: Tom Byargeon
Title: Managing Director
1301 Avenue of
the Americas
New York, New York 10019
Attention: Gener David
Telephone: (212) 261-7741
Telecopier: (917) 849-5440
THE ROYAL BANK
OF SCOTLAND plc
By:
/s/ Matthew J. Main
Name: Matthew J. Main
Title: Managing Director
600 Travis St.,
Suite 6500
Houston, Texas 77002
Attention: Stuart Gibson
Telephone: (713) 221-2415
Telecopy: (713) 221-2430
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