Execution Copy
Exhibit 10.11E         
AMENDMENT NO. 3
     This Amendment No. 3 dated as of October 1, 2009 (this “Amendment”) is
among Oil States International, Inc., a Delaware corporation (the “U.S.
Borrower”), PTI Group Inc., a corporation amalgamated under the laws of the
Province of Alberta (the “Canadian Borrower” and, together with the U.S.
Borrower, the “Borrowers”), each of the Guarantors, the Lenders party hereto and
Wells Fargo Bank, N.A. (“Wells Fargo”), as administrative agent (in such
capacity, the “Administrative Agent”) for the Lenders.
INTRODUCTION
     WHEREAS, the Borrowers, the lenders party thereto (the “Lenders”) and the
Administrative Agent are parties to the Credit Agreement dated as of October 30,
2003, as amended by Amendment No. 1 dated as of January 31, 2005 and as amended
by Amendment No. 2 dated as of December 5, 2006 (as amended, supplemented or
otherwise modified from time to time the “Credit Agreement”).
     WHEREAS, the parties have agreed, to amend the Credit Agreement as
described below.
     NOW, THEREFORE, in consideration of the premises and the mutual agreements,
representations and warranties set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto hereby agree as follows:
     Section 1. Definitions. Unless otherwise defined in this Amendment, terms
used in this Amendment that are defined in the Credit Agreement shall have the
meanings assigned to such terms in the Credit Agreement.
     Section 2. Amendments. The Credit Agreement is hereby amended as follows:
     (a) Section 1.01. The following new definition is added as follows:
“Third Amendment Effective Date” means October 1, 2009.
     (b) Section 1.01. The following definition is hereby amended in its
entirety as follows:
     “wholly owned Subsidiary” of any person shall mean (a) any Subsidiary of
such person of which securities (except for directors’ qualifying shares and, in
the case of PTI Holdco, the Exchangeable Shares) or other ownership interests
representing 100% of the equity or 100% of the ordinary voting power are, at the
time any determination is being made, owned, controlled or held by such person
or one or more wholly owned Subsidiaries of such person or by such person and
one or more wholly owned Subsidiaries of such person or (b) any Subsidiary that
is organized in a foreign jurisdiction and is required by the applicable laws
and

 

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regulations of such foreign jurisdiction to be partially owned by the government
of such foreign jurisdiction or individual or corporate citizens of such foreign
jurisdiction, provided that such person, directly or indirectly, owns the
remaining Equity Interests in such Subsidiary and, by contract or otherwise,
controls the management and business of such Subsidiary and derives economic
benefits of ownership of such Subsidiary to substantially the same extent as if
such Subsidiary were a wholly-owned Subsidiary.
     (c) Section 6.04(a) of the Credit Agreement is hereby restated in its
entirety as follows:
          (a) [Reserved];
     (d) Section 6.04(g) of the Credit Agreement is hereby restated in its
entirety as follows:
          (g) [Reserved];
     (e) Section 6.04(i) of the Credit Agreement is hereby restated in its
entirety as follows:
     (i) the U.S. Borrower or any wholly owned Domestic Subsidiary or the
Canadian Borrower or any wholly owned Canadian Subsidiary may acquire all or
substantially all the assets of a person or line of business of such person, or
Equity Interests of a person that would become a wholly owned Subsidiary (in
each case referred to herein as the “Acquired Entity”); provided that (any
acquisition of an Acquired Entity meeting all the criteria of this
Section 6.04(i) being referred to herein as a “Permitted Acquisition”): (i) such
acquisition was not preceded by an unsolicited tender offer for such Equity
Interests by, or proxy contest initiated by, the U.S. Borrower or any
Subsidiary; (ii) the Acquired Entity shall be a going concern and shall be in a
similar line of business as that of the Borrowers and the Subsidiaries; and
(iii) at the time of such transaction (A) both before and after giving effect
thereto, no Event of Default or Default shall have occurred and be continuing;
(B) the Borrowers would be in compliance with the covenants set forth in
Sections 6.10, 6.11 and 6.12 as of the most recently completed period of four
consecutive fiscal quarters ending prior to such transaction for which the
financial statements and certificates required by Section 5.04(a) or 5.04(b)
have been delivered or for which comparable financial statements have been filed
with the Securities and Exchange Commission, after giving pro forma effect to
such transaction and to any other event occurring during or after such period as
to which pro forma recalculation is appropriate (including any Asset Sale and
any other transaction described in this Section 6.04(i) occurring during or
after such period) as if such transaction had occurred as of the first day of
such period; (C) after giving effect to such acquisition, there must be at least
U.S.$10,000,000 of the Total Commitment unused and available; (D) with respect
to any investment in a Foreign Subsidiary (i) the consideration paid for such
Acquired Entity is either the Net Cash

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Proceeds of any Equity Issuance after the Third Amendment Effective Date by the
U.S. Borrower or shares of common Equity Interests of the U.S. Borrower and
(ii) if such consideration is not Net Cash Proceeds or Equity Interests as
contemplated in sub-clause (i), the aggregate amount (net of cash received by
any Loan Party as a return on capital or from the liquidation of such Equity
Interest in a Foreign Subsidiary) at any time of all investments in the Equity
Interests of Foreign Subsidiaries does not exceed $200,000,000 (or the U.S.
Dollar equivalent at the time such investment is made). All pro forma
calculations required to be made pursuant to this Section 6.04(i) shall
(i) include only those adjustments that would be permitted or required by
Regulation S-X under the Securities Act of 1933, as amended and (ii) be
certified to by a Financial Officer as having been prepared in good faith based
upon reasonable assumptions;
     (f) Section 6.04(j) of the Credit Agreement is hereby restated in its
entirety as follows:
     (j) investments existing on the Third Amendment Effective Date set forth on
Schedule 6.04, as amended, supplemented or modified;
     (g) Section 6.04(l) of the Credit Agreement is hereby restated in its
entirety as follows:
     (l) other investments, loans and advances in an aggregate amount (valued at
cost or outstanding principal amount, as the case may be) not greater than the
greater of (i) U.S.$70,000,000 at any time outstanding or (ii) 15% of the U.S.
Borrower’s Tangible Net Worth calculated on the date of such investment, loan or
advance as of the most recent fiscal quarter for which financial statements are
available.
     (h) It is hereby acknowledged that Wells Fargo Securities, LLC is the lead
arranger with respect to the transactions evidenced by the Credit Agreement. The
lead arranger shall not have any powers, duties or responsibilities in such
capacity under the Agreement or any of the other Credit Documents.
     Section 3. Representations and Warranties. The Borrowers represent and
warrant to the Agents and the Lenders that:
     (a) the representations and warranties set forth in Article III of the
Credit Agreement and in each other Loan Document are true and correct in all
material respects on and as of the date hereof with the same effect as though
made on and as of such date, except to the extent such representations and
warranties expressly relate to an earlier date;
     (b) each Borrower and each other Loan Party are in compliance with all the
terms and provisions set forth in the Credit Agreement and in each other Loan
Document on its part to be observed or performed, and as of the date hereof, no
Event of Default or Default has occurred and is continuing;

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     (c) there has been no material adverse change in the business, assets,
operations, condition (financial or otherwise) or prospects of the Borrowers and
the Subsidiaries, taken as a whole, since December 31, 2008; and
     (d) (i) the execution, delivery, and performance of this Amendment are
within the corporate power and authority of the Borrowers and each other Loan
Party and have been duly authorized by appropriate proceedings, and (ii) this
Amendment constitutes a legal, valid, and binding obligation of the Borrowers
and each other Loan Party, enforceable in accordance with its terms, except as
limited by applicable bankruptcy, insolvency, reorganization, moratorium, or
similar laws affecting the rights of creditors generally and general principles
of equity.
     Section 4. Effectiveness. The Credit Agreement shall be amended as provided
in this Amendment upon the occurrence of the following conditions precedent:
     (a) the Administrative Agent shall have received duly and validly executed
originals of this Amendment on behalf of the Borrowers, the Guarantors, the
Administrative Agent and the Required Lenders; and
     (b) the Administrative Agent shall have received all Fees and other amounts
due and payable on or prior to the date of this Amendment, including, (i) an
amendment fee to the Administrative Agent for the account of each Lender
(including Wells Fargo) that executes and delivers this Amendment to the
Administrative Agent (or its counsel) equal to 0.05% of such Lender’s
Commitment, (ii) the fees provided in the Fee Letter dated as of September 15,
2009 among the Borrowers and the Administrative Agent and (iii) to the extent
invoiced, reimbursement or payment of all out-of-pocket expenses (including,
without limitation, the reasonable fees, charges and disbursements of counsel
for the Administrative Agent) required to be reimbursed or paid by the Borrowers
hereunder or under any other Loan Document.
     Section 5. Reaffirmation of Guaranty and Liens.
     (a) Each Subsidiary of the U.S. Borrower that is listed on the signature
pages to this Amendment (each, a “Guarantor”) (i) is party to a Guarantee
Agreement, guaranteeing payment of the Obligations, (ii) has reviewed the
Amendment and related documents, and (iii) waives any defenses to the
enforcement of its Guarantee Agreement that it may have, and agrees that
according to its terms such Guarantee Agreement will continue in full force and
effect to guaranty the Obligations under the Loan Documents, as the same may be
amended, supplemented, or otherwise modified, and such other amounts in
accordance with the terms of such Guarantee Agreement.
     (b) The Borrowers and each Guarantor (i) are parties to certain Security
Documents securing and supporting the Obligations, (ii) have reviewed the
Amendment and related documents, (iii) waive any defenses that it may have to
the enforcement of the Security Documents to which they are party, and
(iv) agree that according to their terms the Security Documents to which they
are party will continue in full force and effect to secure the Obligations under
the Loan Documents, as the same may be amended, supplemented, or otherwise
modified, and (v) acknowledge, represent, and warrant that the Liens and
security interests created by the Security Documents are valid and subsisting
and create a first priority perfected security interest

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subject to Liens expressly permitted by Section 6.02 of the Credit Agreement in
the Collateral to secure the Obligations.
     (c) The delivery of this Amendment does not indicate or establish a
requirement that any Guarantee Agreement or Security Document requires any
Borrower’s or any Guarantor’s approval of amendments to the Credit Agreement,
but has been furnished as a courtesy at the Administrative Agent’s request.
     Section 6. Effect on Credit Documents.
     (a) Except as amended herein, the Credit Agreement and the Loan Documents
remain in full force and effect as originally executed, and nothing herein shall
act as a waiver of any of the Administrative Agent’s or Lenders’ rights under
the Loan Documents, as amended, including the waiver of any Default or Event of
Default, however denominated.
     (b) This Amendment is a Loan Document for the purposes of the provisions of
the other Loan Documents. Without limiting the foregoing, any breach of
representations, warranties, and covenants under this Amendment may be a Default
or Event of Default under other Loan Documents.
     Section 7. Choice of Law. This Amendment shall be governed by and construed
and enforced in accordance with the laws of the State of Texas.
     Section 8. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original. Delivery of an executed
signature page to this Amendment by facsimile transmission shall be as effective
as delivery of a manually signed counterpart of this Amendment.
[The remainder of this page has been left blank intentionally.]

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EXECUTED to be effective as of the date first above written.

            BORROWERS:

OIL STATES INTERNATIONAL, INC.
      by           Name:   Bradley J. Dodson        Title:   Vice President,
Chief Financial Officer
and Treasurer        PTI GROUP INC.
      by           Name:   Mark Menard        Title:   Chief Financial Officer
and Treasurer        GUARANTORS:

PTI INTERNATIONAL INC.
PTI PREMIUM CAMP SERVICES LTD.
PTI TRAVCO MODULAR STRUCTURES LTD.
CROWN CAMP SERVICES LTD.
PTI CAMP INSTALLATIONS LTD.
PTI INTERNATIONAL LTD.
892493 ALBERTA INC.
      each by   

          Name:   Mark Menard        Title:   Chief Financial Officer and
Treasurer     

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            A - Z TERMINAL CORPORATION
CAPSTAR DRILLING, L.L.C.
ELENBURG EXPLORATION COMPANY, INC
GENERAL MARINE LEASING, LLC
OIL STATES ENERGY SERVICES, INC.
OIL STATES INDUSTRIES, INC.
OIL STATES MANAGEMENT, INC.
OIL STATES SKAGIT SMATCO, LLC
SOONER HOLDING COMPANY
SOONER INC.
SOONER PIPE GP, L.L.C.
SOONER PIPE, L.L.C.
SPECIALTY RENTAL TOOLS & SUPPLY,
          L.L.C. (fka Specialty Rental Tools &
          Supply, L.P. and Schooner Petroleum
          Services, Inc.)
STINGER WELLHEAD PROTECTION
          INCORPORATED
      each by  

          Name:   Bradley J. Dodson        Title:   Vice President       
CAPSTAR DRILLING GP, L.L.C.
By: Oil States Energy Services, Inc.,
        its sole member
      by           Name:   Bradley J. Dodson        Title:   Vice President     

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            PTI REMOTE SITE SERVICES USA, INC.
STINGER WELLHEAD PROTECTION
(CANADA) INCORPORATED
      each by  

          Name:   Cindy B. Taylor        Title:   Senior Vice President       
SOONER PIPE LP, L.L.C.
CAPSTAR DRILLING LP, L.L.C.
      each by  

          Name:   Mary Alice Avery        Title:   President     

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            WELLS FARGO BANK, N.A., as Administrative
Agent and a U.S. Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            WELLS FARGO FINANCIAL CORPORATION
CANADA, as a Canadian Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            THE BANK OF NOVA SCOTIA, as a Canadian
Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            SCOTIABANC INC., as a U.S. Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            CAPITAL ONE, N.A., as a U.S. Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            ROYAL BANK OF CANADA, as a U.S. Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            ROYAL BANK OF CANADA, as a Canadian
Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            JPMORGAN CHASE BANK, N.A., as a U.S.
Lender and a Canadian Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            CALYON NEW YORK BRANCH, as a U.S.
Lender
      by           Name:           Title:                 by           Name:    
      Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            CREDIT SUISSE, CAYMAN ISLANDS
BRANCH, as a U.S. Lender
      by           Name:           Title:                 by           Name:    
      Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            CREDIT SUISSE TORONTO BRANCH, as a
Canadian Lender
      by           Name:           Title:                 by           Name:    
      Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            THE TORONTO-DOMINION BANK, as a U.S.
Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            THE TORONTO-DOMINION BANK, as a
Canadian Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            AMEGY BANK N.A., as a U.S. Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            BARCLAYS BANK PLC, as a U.S. Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)

 

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            COMERICA BANK, as a U.S. Lender
      by           Name:           Title:        

Signature Page to Amendment No. 3
(Oil States International, Inc.)