Back to top

AMENDMENT NO. 2 AND AGREEMENT dated as of May 21, 2009 (this ?Amendment?), to the Credit Agreement

Loan Agreement

AMENDMENT NO. 2 AND AGREEMENT dated as of May 21, 2009 (this ?Amendment?), to the Credit Agreement | Document Parties: ALITHEIA RESOURCES INC. | CGGVERITAS SERVICES HOLDING (US), INC You are currently viewing:
This Loan Agreement involves

ALITHEIA RESOURCES INC. | CGGVERITAS SERVICES HOLDING (US), INC

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: AMENDMENT NO. 2 AND AGREEMENT dated as of May 21, 2009 (this ?Amendment?), to the Credit Agreement
Governing Law: New York     Date: 9/22/2009

AMENDMENT NO. 2 AND AGREEMENT dated as of May 21, 2009 (this ?Amendment?), to the Credit Agreement, Parties: alitheia resources inc. , cggveritas services holding (us)  inc
50 of the Top 250 law firms use our Products every day

Exhibit 4.11

EXECUTION COPY

     AMENDMENT NO. 2 AND AGREEMENT dated as of May 21, 2009 (this “ Amendment ”), to the Credit Agreement dated as of January 12, 2007, as amended by Amendment No. 1 and Agreement dated as of December 12, 2008 (as so amended, the “ Credit Agreement ”), among CGGVERITAS SERVICES HOLDING (U.S.), INC. (formerly known as Volnay Acquisition Co. I), a Delaware corporation (the “ Borrower ”), COMPAGNIE GÉNÉRALE DE GÉOPHYSIQUE-VERITAS (formerly known as Compagnie Générale De Géophysique), a société anonyme incorporated under the laws of France (registration number 969 202 241 RCS Paris) (“ Parent ), the Lenders (as defined in Article I of the Credit Agreement) and CREDIT SUISSE, as administrative agent (in such capacity, the “ Administrative Agent ”) and as collateral agent (in such capacity, the “ Collateral Agent ”) for the Lenders.

     A. Pursuant to the Credit Agreement, the Lenders and the Issuing Bank have extended, and have agreed to extend, credit to the Borrower.

     B. The Borrower, Parent and the Lenders have agreed to amend the Credit Agreement as set forth herein.

     C. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Credit Agreement.

     Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:

     SECTION 1. Amendments . (a) The definition of the term “Applicable Percentage” set forth in Section 1.01 of the Credit Agreement is hereby amended by deleting the tables set forth therein and substituting therefor the following tables:

 

 

 

 

 

 

 

 

 

 

 

Eurodollar Spread

 

ABR Spread

Corporate Ratings

 

(Term Loans)

 

(Term Loans)

Category 2

 

 

2.75

%

 

 

1.75

%

BB or better by S&P and Ba1 or better by Moody’s

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category 1

 

 

3.00

%

 

 

2.00

%

All other Corporate Ratings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eurodollar

 

 

 

 

 

 

Spread

 

 

 

 

 

 

(Revolving

 

ABR Spread

 

Commitment

Corporate Ratings

 

Loans)

 

(Revolving Loans)

 

Fee

Category 3

 

 

2.75

%

 

 

1.75

%

 

 

0.375

%

BB+ or better by S&P and Ba1 or better by Moody’s

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category 2

 

 

3.00

%

 

 

2.00

%

 

 

0.50

%

BB or better by S&P and Ba2 or better by Moody’s

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category 1

 

 

3.25

%

 

 

2.25

%

 

 

0.50

%

All other Corporate Ratings

 

 

 

 

 

 

 

 

 

 

 

 


 

     (b) The definition of the term “Capital Expenditures” set forth in Section 1.01 of the Credit Agreement is hereby amended by inserting after the word “investments” set forth therein the parenthetical “(other than investments of up to 75,000,000 in the aggregate made in connection with the Massy Sale and Leaseback)”.

     (c) The definition of the term “Permitted Acquisition” set forth in Section 1.01 of the Credit Agreement is hereby amended by deleting the word “or” at the end of clause (i) thereof and inserting at the end of clause (j) thereof the phrase “or (k) the receipt of equity, joint venture interests or other consideration pursuant to clause (d) of the definition of “Permitted Disposal”.

     (d) Clause (d) of the definition of the term “Permitted Disposal” set forth in Section 1.01 of the Credit Agreement is hereby amended by replacing the words “one 2D seismic vessel and/or one 3D seismic vessel” set forth therein with the words “up to four seismic vessels, of which no more than three can be 3D seismic vessels”.

     (e) The definition of the term “Permitted Financial Indebtedness” set forth in Section 1.01 of the Credit Agreement is hereby amended by (i) deleting in clause (q) thereof the word “subordinated”, (ii) deleting in clause (q)(i)(A) thereof the number 1.75 and inserting in its place the number 2.00 and (iii) deleting in clause (q)(ii)(z) thereof the words “subordination and”.

     (f) Section 6.02(a) of the Credit Agreement is hereby amended and restated to read as follows:

     (a) The ratio of (i) EBITDA to (ii) Total Interest Costs for each Relevant Period specified in Column 1 below shall not be less than the ratio set out in Column 2 below opposite such Relevant Period.

 

 

 

 

 

Column 1

 

 

Any Relevant Period expiring in the

 

Column 2

rolling 12 month period ending

 

Ratio

June 30, 2009

 

 

4.00:1.00

 

September 30, 2009

 

 

4.00:1.00

 

December 31, 2009

 

 

4.00:1.00

 

March 31, 2010

 

 

4.00:1.00

 

June 30, 2010

 

 

4.00:1.00

 

September 30, 2010

 

 

4.00:1.00

 

December 31, 2010

 

 

4.00:1.00

 

March 31, 2011

 

 

4.00:1.00

 

June 30, 2011

 

 

4.00:1.00

 

September 30, 2011

 

 

4.00:1.00

 

2


 

 

 

 

 

 

Column 1

 

 

Any Relevant Period expiring in the

 

Column 2

rolling 12 month period ending

 

Ratio

December 31, 2011

 

 

4.00:1.00

 

March 31, 2012

 

 

4.50:1.00

 

June 30, 2012

 

 

4.50:1.00

 

September 30, 2012

 

 

4.50:1.00

 

December 31, 2012

 

 

4.50:1.00

 

March 31, 2013

 

 

5.00:1.00

 

June 30, 2013

 

 

5.00:1.00

 

September 30, 2013

 

 

5.00:1.00

 

December 31, 2013

 

 

5.00:1.00

 

   


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more