exv10w2






Exhibit
10.2



Execution Version




THIRD AMENDMENT TO

REVOLVING CREDIT AGREEMENT




     THIS THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT (this “Amendment”), is made and entered
into as of June 5, 2008, by and among BRISTOW GROUP INC., a Delaware corporation (the
“Borrower”), the several banks and other financial institutions and lenders from time to
time party hereto (the “Lenders”), SUNTRUST BANK, in its capacity as administrative agent
for the Lenders (the “Administrative Agent”), as issuing bank (the “Issuing Bank”)
and as swingline lender (the “Swingline Lender”) JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
as Syndication Agent, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Documentation Agent (the
“Documentation Agent”).




W
I T N E S S E T H:



     WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to a certain
Revolving Credit Agreement, dated as of August 3, 2006 (as amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”; capitalized terms used herein and not
otherwise defined shall have the meanings assigned to such terms in the Credit Agreement), pursuant
to which the Lenders have made certain financial accommodations available to the Borrower; and



     WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent amend
certain provisions of the Credit Agreement, and subject to the terms and conditions hereof, the
Lenders are willing to do so;



     NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of all of
which are acknowledged, the Borrower, the Lenders and the Administrative Agent agree as follows:



          1. Amendments.




               Section 7.1(f) of the Credit Agreement is hereby amended by replacing “$375,000,000” with
“$625,000,000”.



          2. Conditions to Effectiveness of this Amendment. Notwithstanding any other provision
of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is
understood and agreed that this Amendment shall not become effective, and the Borrower shall have
no rights under this Amendment, until the Administrative Agent shall have received
(i) reimbursement or payment of its costs and expenses incurred in connection with this Amendment
or the Credit Agreement (including reasonable fees, charges and disbursements of King & Spalding
LLP, counsel to the Administrative Agent), and (ii) executed counterparts to this Amendment from
the Borrower, each of the Guarantors and the Lenders.




 









 








          3. Representations and Warranties. To induce the Lenders and the Administrative Agent
to enter into this Amendment, each Loan Party hereby represents and warrants to the Lenders and the
Administrative Agent:




               Each Loan Party (i) is duly organized, validly existing and in good standing as a corporation,
partnership or limited liability company under the laws of the jurisdiction of its organization,
(ii) has all requisite power and authority to carry on its business as now conducted, and (iii) is
duly qualified to do business, and is in good standing, in each jurisdiction where such
qualification is required, except where a failure to be so qualified would not reasonably be
expected to result in a Material Adverse Effect;



               The execution, delivery and performance by each Loan Party of this Amendment (i) are within
such Loan Party’s organizational powers and have been duly authorized by all necessary
organizational, and if required, shareholder, partner or member, action, (ii) do not require any
consent or approval of, registration or filing with, or any action by, any Governmental Authority,
except those as have been obtained or made and are in full force and effect, (iii) will not violate
any Requirements of Law applicable to Borrower or any of its Subsidiaries or any judgment, order or
ruling of any Governmental Authority, (iv) will not violate or result in a default under any
indenture, material agreement or other material instrument binding on the Borrower or any of its
Subsidiaries or any of its assets or give rise to a right thereunder to require any payment to be
made by the Borrower or any of its Subsidiaries and (v) will not result in the creation or
imposition of any Lien on any asset of the Borrower or any of its Subsidiaries, except Liens (if
any) created under the Loan Documents;



               This Amendment has been duly executed and delivered for the benefit of or on behalf of each
Loan Party and constitutes a legal, valid and binding obligation of each Loan Party, enforceable
against such Loan Party in accordance with its terms except as the enforceability hereof may be
limited by bankruptcy, insolvency, reorganization, moratorium and other laws affecting creditors’
rights and remedies in general; and



               After giving effect to this Amendment, the representations and warranties contained in the
Credit Agreement and the other Loan Documents are true and correct in all material respects, except
to the extent limited to a prior date, and no Default or Event of Default has occurred and is
continuing as of the date hereof.



          4. Reaffirmations and Acknowledgments.




               Reaffirmation of Guaranty. Each Guarantor consents to the execution and delivery by
the Borrower of this Amendment and jointly and severally ratifies and confirms the terms of the
Subsidiary Guaranty Agreement with respect to the indebtedness now or hereafter outstanding under
the Credit Agreement as amended hereby and all promissory notes issued thereunder. Each Guarantor
acknowledges that, notwithstanding anything to the contrary contained herein or in any other
document evidencing any indebtedness of the Borrower to the Lenders or any other obligation of the
Borrower, or any actions now or hereafter taken by the Lenders with respect to any obligation of
the Borrower, the Subsidiary Guaranty Agreement (i) is and shall continue to be a primary
obligation of the Guarantors, (ii) is and shall continue to be an absolute, unconditional, joint
and several, continuing and irrevocable guaranty of payment,



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and (iii) is and shall continue to be in full force and effect in accordance with its terms.
Nothing contained herein to the contrary shall release, discharge, modify, change or affect the
original liability of the Guarantors under the Subsidiary Guaranty Agreement.




               Acknowledgment of Perfection of Security Interest. Each Loan Party hereby
acknowledges that, as of the date hereof, the security interests and liens granted to the
Administrative Agent and the Lenders under the Credit Agreement and the other Loan Documents are in
full force and effect, are properly perfected and are enforceable in accordance with the terms of
the Credit Agreement and the other Loan Documents.



          5. Effect of Amendment. Except as set forth expressly herein, all terms of the Credit
Agreement, as amended hereby, and the other Loan Documents shall be and remain in full force and
effect and shall constitute the legal, valid, binding and enforceable obligations of the Borrower
to the Lenders and the Administrative Agent. The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power
or remedy of the Lenders under the Credit Agreement, nor constitute a waiver of any provision of
the Credit Agreement. This Amendment shall constitute a Loan Document for all purposes of the
Credit Agreement.




          6. Governing Law. This Amendment shall be governed by, and construed in accordance
with, the internal laws of the State of New York and all applicable federal laws of the United
States of America.




          7. No Novation. This Amendment is not intended by the parties to be, and shall not be
construed to be, a novation of the Credit Agreement or an accord and satisfaction in regard
thereto.




          8. Costs and Expenses. The Borrower agrees to pay on demand all costs and expenses of
the Administrative Agent in connection with the preparation, execution and delivery of this
Amendment, including, without limitation, the reasonable fees and out-of-pocket expenses of outside
counsel for the Administrative Agent with respect thereto.




          9. Counterparts. This Amendment may be executed by one or more of the parties hereto
in any number of separate counterparts, each of which shall be deemed an original and all of which,
taken together, shall be deemed to constitute one and the same instrument. Delivery of an executed
counterpart of this Amendment by facsimile transmission or by electronic mail in pdf form shall be
as effective as delivery of a manually executed counterpart hereof.




          10. Binding Nature. This Amendment shall be binding upon and inure to the benefit of
the parties hereto, their respective successors, successors-in-titles, and assigns.




          11. Entire Understanding. This Amendment sets forth the entire understanding of the
parties with respect to the matters set forth herein, and shall supersede any prior negotiations or
agreements, whether written or oral, with respect thereto.




[Signature Pages To Follow]




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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed, under
seal in the case of the Borrower and the Guarantors, by their respective authorized officers as of
the day and year first above written.



	 	 	 	 	 
	 	BORROWER:



BRISTOW GROUP INC.

 	 
	 	By:  	/s/  Joseph A. Baj
 	 
	 	 	Name:  	Joseph A. Baj  	 
	 	 	Title:  	Vice President 	 
	 
	 	GUARANTORS:



AIR LOGISTICS, L.L.C.

 	 
	 	By:  	/s/  Randall A. Stafford
 	 
	 	 	Name:  	Randall A. Stafford 	 
	 	 	Title:  	Manager 	 
	 
	 	AIR LOGISTICS OF ALASKA, INC.

 	 
	 	By:  	/s/  Joseph A. Baj
 	 
	 	 	Name:  	Joseph A. Baj  	 
	 	 	Title:  	Vice President 	 
	 
	 	AIRLOG INTERNATIONAL, LTD.

 	 
	 	By:  	/s/  Joseph A. Baj
 	 
	 	 	Name:  	Joseph A. Baj 	 
	 	 	Title:  	Vice President 	 
	 



[SIGNATURE PAGE TO THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT]




 









 








	 	 	 	 	 
	 	LENDERS:



SUNTRUST BANK

as Administrative Agent, as Issuing Bank, as

Swingline Lender and as a Lender

 	 
	 	By:  	/s/ Yann Pirio
 	 
	 	 	Name:  	Yann Pirio 	 
	 	 	Title:  	Director 	 
	 



[SIGNATURE PAGE TO THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT]




 









 








	 	 	 	 	 
	 	JP MORGAN CHASE BANK, NATIONAL ASSOCIATION, as
Syndication Agent and as a 

Lender

 	 
	 	By:  	/s/ Thomas E. Okamoto
 	 
	 	 	Name:  	Thomas E. Okamoto 	 
	 	 	Title:  	Vice President 	 
	 



[SIGNATURE PAGE TO THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT]




 









 








	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL 

ASSOCIATION as
Documentation Agent and as 

a Lender

 	 
	 	By:  	/s/ Michael W. Nygren
 	 
	 	 	Name:  	Michael W. Nygren 	 
	 	 	Title:  	Vice President 	 
	 



[SIGNATURE PAGE TO THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT]




 









 








	 	 	 	 	 
	 	WHITNEY NATIONAL BANK, as a Lender

 	 
	 	By:  	/s/ William A. Hendrix
 	 
	 	 	Name:  	William A. Hendrix 	 
	 	 	Title:  	Vice President 	 






[SIGNATURE PAGE TO THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT]





 









 






	 	 	 	 	 



	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender

 	 
	 	By:  	/s/ Gary L. Mingle
 	 
	 	 	Name:  	Gary L. Mingle 	 
	 	 	Title:  	Senior Vice President 	 
	 



[SIGNATURE PAGE TO THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT]