##### 



Exhibit 10.9




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TABLE OF CONTENTS
 PageSECTION 1.
    
    
    
    DEFINITIONS
    
    
    11.1
    
    
    
    
    Defined Terms
    
    
    11.2
    
    
    
    
    Other Definitional Provisions
    
    
    15SECTION 2.
    
    
    
    AMOUNT AND TERMS OF COMMITMENTS
    
    
    152.1
    
    
    
    
    Term Commitments
    
    
    152.2
    
    
    
    
    Procedure for Term Loan Borrowing
    
    
    152.3
    
    
    
    
    Repayment of Term Loans
    
    
    162.4
    
    
    
    
    Commitment Fees, etc.
    
    
    162.5
    
    
    
    
    Optional Prepayments
    
    
    162.6
    
    
    
    
    Mandatory Prepayments and Commitment Reductions
    
    
    172.7
    
    
    
    
    Conversion and Continuation Options
    
    
    172.8
    
    
    
    
    Limitations on Eurodollar Tranches
    
    
    182.9
    
    
    
    
    Interest Rates and Payment Dates
    
    
    182.10
    
    
    
    
    Computation of Interest and Fees
    
    
    182.11
    
    
    
    
    Inability to Determine Interest Rate
    
    
    192.12
    
    
    
    
    Pro Rata Treatment and Payments
    
    
    192.13
    
    
    
    
    Requirements of Law
    
    
    202.14
    
    
    
    
    Taxes
    
    
    212.15
    
    
    
    
    Indemnity
    
    
    232.16
    
    
    
    
    Change of Lending Office
    
    
    232.17
    
    
    
    
    Replacement of Lenders
    
    
    23SECTION 3.
    
    
    
    REPRESENTATIONS AND WARRANTIES
    
    
    243.1
    
    
    
    
    Financial Condition
    
    
    243.2
    
    
    
    
    No Change
    
    
    243.3
    
    
    
    
    Existence; Compliance with Law
    
    
    243.4
    
    
    
    
    Power; Authorization; Enforceable Obligations
    
    
    253.5
    
    
    
    
    No Legal Bar
    
    
    253.6
    
    
    
    
    Litigation
    
    
    253.7
    
    
    
    
    No Default
    
    
    253.8
    
    
    
    
    Ownership of Property; Liens
    
    
    253.9
    
    
    
    
    Intellectual Property
    
    
    253.10
    
    
    
    
    Taxes
    
    
    263.11
    
    
    
    
    Federal Regulations
    
    
    263.12
    
    
    
    
    Labor Matters
    
    
    263.13
    
    
    
    
    ERISA
    
    
    263.14
    
    
    
    
    Investment Company Act; Other Regulations
    
    
    263.15
    
    
    
    
    Subsidiaries
    
    
    263.16
    
    
    
    
    Use of Proceeds
    
    
    273.17
    
    
    
    
    Environmental Matters
    
    
    273.18
    
    
    
    
    Accuracy of Information, etc
    
    
    273.19
    
    
    
    
    Security Documents
    
    
    283.20
    
    
    
    
    Solvency
    
    
    28
 -i-




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PageSECTION 4.
    
    
    
    CONDITIONS PRECEDENT
    
    
    284.1
    
    
    
    
    Conditions to Initial Extension of Credit
    
    
    284.2
    
    
    
    
    Conditions to Each Extension of Credit
    
    
    31SECTION 5.
    
    
    
    AFFIRMATIVE COVENANTS
    
    
    315.1
    
    
    
    
    Financial Statements
    
    
    315.2
    
    
    
    
    Certificates; Other Information
    
    
    315.3
    
    
    
    
    Payment of Obligations
    
    
    325.4
    
    
    
    
    Rating by Moodys and S&P
    
    
    335.5
    
    
    
    
    Maintenance of Existence; Compliance
    
    
    335.6
    
    
    
    
    Maintenance of Property; Insurance
    
    
    335.7
    
    
    
    
    Inspection of Property; Books and Records; Discussions
    
    
    335.8
    
    
    
    
    Notices
    
    
    335.9
    
    
    
    
    Environmental Laws
    
    
    345.10
    
    
    
    
    Additional Collateral, etc
    
    
    34SECTION 6.
    
    
    
    NEGATIVE COVENANTS
    
    
    366.1
    
    
    
    
    Financial Condition Covenants
    
    
    366.2
    
    
    
    
    Indebtedness
    
    
    366.3
    
    
    
    
    Liens
    
    
    376.4
    
    
    
    
    Fundamental Changes
    
    
    386.5
    
    
    
    
    Disposition of Property
    
    
    396.6
    
    
    
    
    Restricted Payments
    
    
    396.7
    
    
    
    
    Capital Expenditures
    
    
    406.8
    
    
    
    
    Investments
    
    
    406.9
    
    
    
    
    Transactions with Affiliates
    
    
    406.10
    
    
    
    
    Sales and Leasebacks
    
    
    416.11
    
    
    
    
    Swap Agreements
    
    
    416.12
    
    
    
    
    Changes in Fiscal Periods
    
    
    416.13
    
    
    
    
    Negative Pledge Clauses
    
    
    416.14
    
    
    
    
    Clauses Restricting Subsidiary Distributions
    
    
    416.15
    
    
    
    
    Lines of Business
    
    
    416.16
    
    
    
    
    Coastwise Citizenship
    
    
    41SECTION 7.
    
    
    
    EVENTS OF DEFAULT
    
    
    42SECTION 8.
    
    
    
    THE AGENTS
    
    
    448.1
    
    
    
    
    Appointment
    
    
    448.2
    
    
    
    
    Delegation of Duties
    
    
    448.3
    
    
    
    
    Exculpatory Provisions
    
    
    458.4
    
    
    
    
    Reliance by Agents
    
    
    458.5
    
    
    
    
    Notice of Default
    
    
    458.6
    
    
    
    
    Non-Reliance on Agents and Other Lenders
    
    
    468.7
    
    
    
    
    Indemnification
    
    
    468.8
    
    
    
    
    Agent in Its Individual Capacity
    
    
    468.9
    
    
    
    
    Successor Agents
    
    
    468.10
    
    
    
    
    Collateral Matters, Collateral Agents Duties
    
    
    47
 -ii-




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Page8.11
    
    
    
    
    Execution of Credit Documents
    
    
    47SECTION 9.
    
    
    
    MISCELLANEOUS
    
    
    489.1
    
    
    
    
    Amendments and Waivers
    
    
    489.2
    
    
    
    
    Notices
    
    
    489.3
    
    
    
    
    No Waiver; Cumulative Remedies
    
    
    499.4
    
    
    
    
    Survival of Representations and Warranties
    
    
    499.5
    
    
    
    
    Payment of Expenses and Taxes
    
    
    509.6
    
    
    
    
    Successors and Assigns; Participations and Assignments
    
    
    509.7
    
    
    
    
    Adjustments; Set-off
    
    
    539.8
    
    
    
    
    Counterparts
    
    
    549.9
    
    
    
    
    Severability
    
    
    549.10
    
    
    
    
    Integration
    
    
    549.11
    
    
    
    
    GOVERNING LAW
    
    
    549.12
    
    
    
    
    Submission To Jurisdiction; Waivers
    
    
    549.13
    
    
    
    
    Acknowledgements
    
    
    559.14
    
    
    
    
    Releases of Guarantees and Liens
    
    
    559.15
    
    
    
    
    Confidentiality
    
    
    559.16
    
    
    
    
    WAIVERS OF JURY TRIAL
    
    
    56
 -iii-




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SCHEDULES:1.1A
    
    Commitments1.1B
    
    Mortgaged Vessels3.4
    
    Consents, Authorizations, Filings and Notices3.15
    
    Subsidiaries3.19(a)
    
    UCC Filing Jurisdictions3.19(b)
    
    Vessel Mortgage Filing Jurisdictions6.2(d)
    
    Existing Indebtedness6.3(f)
    
    Existing LiensEXHIBITS:A
    
    Form of Guarantee and Collateral AgreementB
    
    Form of Compliance CertificateC
    
    Form of Closing CertificateD
    
    Form of Vessel MortgageE
    
    Form of Assignment and AssumptionF-1
    
    Form of Legal Opinion of Bracewell & Giuliani LLPF-2
    
    Form of Legal Opinion of R. Joshua KochG
    
    Form of Exemption CertificateH
    
    Form of Intercreditor AgreementI
    
    Form of Collateral Account Agreement
 -iv-




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Agreement Borrower Lenders
   Defined Terms
 ABL Revolving Credit Agreement
 ABL Revolving Credit Documentation
 ABR 1 2
 ABR Loans
 Administrative Agent
 Affiliate
 Agents
 Aggregate Exposure
 Aggregate Exposure Percentage
 Agreement
 Signature
Page to Term Loan Credit Agreement




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2 Applicable Margin
 Approved Fund
 Asset Sale
 Assignee
 Assignment and Assumption
 Benefitted Lender
 Board
 Borrower
 Borrowing Date
 Business
 Business Day provided
 Capital Expenditures
 Capital Lease Obligations
 Capital Stock
 Cash Equivalents




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3 S&P Moodys
 Charter Obligations
 Closing Date
 Code
 Collateral
 Collateral Account Agreement
 Collateral Agent
 Commitment
 Commonly Controlled Entity




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4 Compliance Certificate
 Conduit Lender provided provided further
 Confidential Information Memorandum
 Consolidated Current Assets
 Consolidated Current Liabilities
 Consolidated EBITDA plus minus
 Consolidated Interest Coverage Ratio
 Consolidated Interest Expense




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5  Consolidated Leverage Ratio
 Consolidated Net Income provided
 Consolidated Total Debt
 Consolidated Working Capital over
 Continuing Directors
 Contractual Obligation
 Default
 Disposition Dispose Disposed of
 Dollars $
 Domestic Subsidiary
 Environmental Laws




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6  ERISA
 Escrowed Amount
 Eurocurrency Reserve Requirements
 Eurodollar Base Rate Eurodollar Base
Rate
 Eurodollar Loans
 Eurodollar Rate
 Eurodollar Base Rate
1.00  Eurocurrency Reserve Requirements
 Eurodollar Tranche
 Event of Default provided




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7 Excess Cash Flow minus provided
 Excess Cash Flow Application Date
 Excess Cash Flow Percentage
 Federal Funds Effective Rate
 Foreign Subsidiary
 Funded Debt




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8 Funding Office
 GAAP
 Governmental Authority
 Group Members
 Guarantee and Collateral Agreement
 Guarantee Obligation guaranteeing person primary obligations primary obligor provided however




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9  Indebtedness
 Insolvency
 Insolvent
 Intellectual Property
 Intercreditor Agreement
 Interest Payment Date
 Interest Period




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10 provided
     Investments
 Lenders provided
 Lien
 Loan
 Loan Documents
 Loan Parties
 Material Adverse Effect
 Materials of Environmental Concern




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11 Maturity Date
 Mortgaged Vessels
 Multiemployer Plan
 Net Cash Proceeds
 Non-Excluded Taxes
 Non-U.S. Lender
 Notes
 Obligations
 Other Taxes
 Participant
 PBGC




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12 Person
 Plan
 Prime Rate
 Pro Forma Balance Sheet
 Projections
 Properties
 Qualified IPO
 Real Property Mortgages
 Recovery Event
 Register
 Regulation U
 Reinvestment Deferred Amount
 Reinvestment Event
 Reinvestment Notice
 Reinvestment Prepayment Amount




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13 Reinvestment Prepayment Date provided
 Reorganization
 Reportable Event
 Required Lenders
 Requirement of Law
 Responsible Officer
 Restricted Payments
 Revolving Credit Facility
 SEC
 Security Documents
 Single Employer Plan
 Solvent




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14  Subsidiary
 Subsidiary Guarantor
 Subtech
 Swap Agreement provided
 Term Lenders
 Term Loans
 Term Percentage
 Transferee
 Type
 United States
 Vessel Mortgages




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15 Wholly Owned Subsidiary
 Wholly Owned Subsidiary Guarantor
 Other Definitional Provisions
     Term Commitments Term Loan
 Procedure for Term Loan Borrowing




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16  Repayment of Term Loans
 Installment
    
    Principal AmountJune 30, 2007
    
    $
    275,000.00September 30, 2007
    
    $
    275,000.00December 31, 2007
    
    $
    275,000.00March 31, 2008
    
    $
    275,000.00June 30, 2008
    
    $
    275,000.00September 30, 2008
    
    $
    3,750,000.00December 31, 2008
    
    $
    3,750,000.00March 31, 2009
    
    $
    3,750,000.00June 30, 2009
    
    $
    3,750,000.00September 30, 2009
    
    $
    3,750,000.00December 31, 2009
    
    $
    3,750,000.00March 31, 2010
    
    $
    3,750,000.00June 30, 2010
    
    $
    3,750,000.00September 30, 2010
    
    $
    3,750,000.00December 31, 2010
    
    $
    3,750,000.00March 31, 2011
    
    $
    3,750,000.00June 30, 2011
    
    $
    3,750,000.00September 30, 2011
    
    $
    3,750,000.00December 31, 2011
    
    $
    3,750,000.00Maturity Date
    
    $
    56,125,000.00
 Fees, etc.
 Optional Prepayments provided




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17  Mandatory Prepayments
 provided
 provided
 Excess Cash Flow Application Date
 first second
 Conversion and Continuation Options provided provided




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18  provided provided further
 Limitations on Eurodollar Tranches
 Interest Rates and Payment Dates
  plus plus
 provided
 Computation of Interest and Fees




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19   Inability to Determine Interest Rate
    Pro Rata Treatment and Payments pro rata
 pro rata pro rata




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20   pro rata
 Requirements of Law




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21   provided
 Taxes Non-Excluded Taxes provided however




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22    Non-U.S. Lender
 provided




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23 provided
  Indemnity over
 Change of Lending Office provided provided further
 Replacement of Lenders provided




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24    Financial Condition pro forma Pro Forma Balance Sheet pro forma
  No Change
 Existence; Compliance with Law




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25  Power; Authorization; Enforceable Obligations
 No Legal Bar
 Litigation
 No Default
 Ownership of Property; Liens
 Intellectual Property




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26 Taxes
 Federal Regulations
 Labor Matters
 ERISA
 Investment Company Act; Other Regulations
 Subsidiaries




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27  Use of Proceeds
 Environmental Matters
 Properties
 Business
      Accuracy of Information, etc




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28 pro forma
 Security Documents
  Solvency
  Conditions to Initial Extension of Credit
 Credit Agreement; Guarantee and Collateral Agreement




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29   Pro Forma Balance Sheet; Financial Statements
 Projections
 Approvals
 Lien Searches
 Fees
 Closing Certificate; Certified Certificate of Incorporation; Good Standing
Certificates
 Legal Opinions




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30 
    Pledged Stock; Stock Powers; Pledged Notes
 Filings, Registrations and Recordings
 Vessel Mortgages
  Asset Appraisal
 Solvency Certificate
 Insurance




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31 Conditions to Each Extension of Credit
 Representations and Warranties
 No Default
    Financial Statements
    Certificates; Other Information




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32   Projections
    Payment of Obligations




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33 Rating by Moodys and S&P
 Maintenance of Existence; Compliance
 Maintenance of Property; Insurance
 Inspection of Property; Books and Records; Discussions
 Notices




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34    Environmental Laws
 provided
 Additional Collateral, etc




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35




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36    Financial Condition Covenants
 Consolidated Leverage Ratio
 Consolidated LeverageFiscal Quarter
    
    RatioMarch 31, 2007  December 31, 2008
    
    2.0 to 1.0March 31, 2009  December 31, 2009
    
    1.5 to 1.0March 31, 2010  Thereafter
    
    1.0 to 1.0
 Consolidated Interest Coverage Ratio
 Indebtedness




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37  provided
     Liens
 provided




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38 provided
 provided
  provided
    Fundamental Changes
 provided provided
 provided




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39   Disposition of Property
      provided
 Restricted Payments Restricted Payments
  provided
 provided




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40  Capital Expenditures
 Investments Investments
          Transactions with Affiliates




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41  Sales and Leasebacks
 Swap Agreements
 Changes in Fiscal Periods
 Negative Pledge Clauses
 Clauses Restricting Subsidiary Distributions
 Lines of Business
 Coastwise Citizenship




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42       provided




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43




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44      Appointment
 Delegation of Duties




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45  Exculpatory Provisions
 Reliance by Agents
 Notice of Default provided




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46 Non-Reliance on Agents and Other Lenders
 Indemnification Agent Indemnitee provided
 Agent in Its Individual Capacity
 Successor Agents




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47  Collateral Matters, Collateral Agents Duties
 Execution of Credit Documents




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48  Amendments and Waivers provided however
  Notices




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49  Superior Offshore International, L.L.C.Borrower:
    
    900 S. College Road, Suite 301Lafayette, Louisiana 70503Attention: Jim MermisCopy to: Joshua KochRoger BurksTelecopy: 337-233-8870Telephone: 337-233-5933Administrative Agent:
    
    JPMorgan Chase Bank, N.A.201 St. Charles Avenue28th FloorNew Orleans LA 70170Attention: Bill RichardTelecopy: 504-623-8379Telephone: 504-623-8300Collateral Agent:
    
    Wilmington Trust Company1100 North Market StreetRodney Square NorthWilmington, DE 19890Attention: James A. HanleySenior Financial Services OfficerTelecopy: 302-636-4145Telephone: 302-636-6453
 provided
 provided provided
 No Waiver; Cumulative Remedies
 Survival of Representations and Warranties




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50  Payment of Expenses and Taxes Indemnitee Indemnified Liabilities provided
 Successors and Assigns; Participations and Assignments




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51  Assignee
 provided
 provided
  provided
   Approved Fund




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52  Register
  Participant provided provided




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53 provided
  provided
 Adjustments; Set-off Benefitted Lender provided however
 provided




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54 Counterparts
 Severability
 Integration
 GOVERNING LAW . THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
LAW OF THE STATE OF NEW YORK.
 Submission To Jurisdiction; Waivers




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55 Acknowledgements
    Releases of Guarantees and Liens
  Confidentiality provided




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56   WAIVERS OF JURY TRIAL . HOLDINGS, THE BORROWER, THE ADMINISTRATIVE AGENT, THE
COLLATERAL AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY
LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY
COUNTERCLAIM THEREIN.




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SUPERIOR OFFSHORE INTERNATIONAL, L.L.C.By:
    /s/ Roger D. BurksName:
    Roger D. BurksTitle:
    Chief Financial Officer JPMORGAN CHASE BANK, N.A., as Administrative Agent
and as a LenderBy:
    /s/ William C. RichardName:
    William C. RichardTitle:
    Senior Vice President WILMINGTON TRUST COMPANY, as Collateral AgentBy:
    /s/ James A. HanleyName:
    James A. HanleyTitle:
    Assistant Vice President Signature
Page to Term Loan Credit Agreement