# EDGAR Filing Document

**Accession Number:** 0001163739
**File Stem:** 0001104659-25-087479
**Filing Date:** 2025-9
**Character Count:** 23777
**Document Hash:** eef858bcdd72d8a554340ad7f73017c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-087479.hdr.sgml**: 20250904

**ACCESSION NUMBER**: 0001104659-25-087479

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250904

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250904

**DATE AS OF CHANGE**: 20250904

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NABORS INDUSTRIES LTD
- **CENTRAL INDEX KEY:** 0001163739
- **STANDARD INDUSTRIAL CLASSIFICATION:** DRILLING OIL & GAS WELLS [1381]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 980363970
- **STATE OF INCORPORATION:** D0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32657
- **FILM NUMBER:** 251293656

**BUSINESS ADDRESS:**
- **STREET 1:** CROWN HOUSE
- **STREET 2:** 4 PAR-LA-VILLE ROAD   SECOND FLOOR
- **CITY:** HAMILTON, HM08
- **STATE:** D0
- **ZIP:** 0000
- **BUSINESS PHONE:** 4412921510

**MAIL ADDRESS:**
- **STREET 1:** P O BOX HM3349
- **CITY:** HAMILTON, HMPX
- **STATE:** D0
- **ZIP:** 0000

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 8-K**

**CURRENT REPORT** 

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **September 4, 2025**

**NABORS INDUSTRIES LTD.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Bermuda** | **001-32657** | **98-0363970** |
| (State or Other Jurisdiction of<br> Incorporation or Organization) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

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| | |
|:---|:---|
| **Crown House**<br>**4 Par-la-Ville Road**<br>**Second Floor**<br>**Hamilton, HM08 Bermuda** | **N/A** |
| (Address of principal executive offices) | (Zip Code) |

---

**(441) 292-1510**

(Registrant's telephone number, including area code)

**N/A**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of exchange on which<br> registered |
| Common shares | NBR | NYSE |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 1.01 Entry into a Material Definitive Agreement.**

On September 4, 2025, Nabors Industries, Inc. ("Nabors Delaware"), a wholly owned subsidiary of Nabors Industries Ltd. (the "Company"), and the Company entered into the first amendment (the "First Amendment") to its amended and restated credit agreement dated June 17, 2024 ("A&R Credit Agreement" and, as amended by the First Amendment, the "Credit Agreement"), among themselves, the other guarantors from time to time party thereto, the revolving lenders, the letter of credit facility participants, the issuing banks and other lenders party thereto and Citibank, N.A., as administrative agent.

The First Amendment revised the restricted payments covenant to permit Nabors Delaware to repurchase up to $100.0 million of equity of either Nabors Delaware or any parent entity in any fiscal year. Usage of this provision will reduce Nabors Delaware's ability to make dividends on a dollar-for-dollar basis; any dividends distributed by Nabors Delaware will likewise reduce Nabors Delaware's ability to make buybacks of equity on a dollar-for-dollar basis.

The other provisions of the A&R Credit Agreement remain unchanged.

A copy of the First Amendment, which is filed as an exhibit to this Form 8-K as Exhibit 10.1, is incorporated herein by reference and should be read in its entirety for a complete description of its provisions. The summary in this report is qualified in its entirety by the text of such provisions.

**Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

The information provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits

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| | |
|:---|:---|
| **Exhibit<br> No.** | **Description** |
| [10.1](tm2525275d1_ex10-1.htm) | [Amendment No. 1 to Amended & Restated Credit Agreement, dated as of September 4, 2025, among Nabors Industries, Inc., as Borrower, Nabors Industries Ltd., as Holdings, the other Guarantors from time to time party thereto, the Issuing Banks and other Lenders party thereto and Citibank, N.A., as Administrative Agent.](tm2525275d1_ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | NABORS INDUSTRIES LTD. | NABORS INDUSTRIES LTD. |
| Date: September 4, 2025 | By: | /s/ Mark D. Andrews |
|  |  | Name: Mark D. Andrews |
|  |  | Title: Corporate Secretary |

---

## Exhibit 10.1

**Exhibit 10.1**

**Execution Version**

**AMENDMENT NO. 1 TO THE CREDIT AGREEMENT**

**AMENDMENT NO. 1 TO THE CREDIT AGREEMENT**, dated as of September 4, 2025 (this "<u>Amendment</u>"), by and among NABORS INDUSTRIES, INC., a Delaware corporation ("<u>Borrower</u>"), NABORS INDUSTRIES LTD., a Bermuda exempted company ("<u>Holdings</u>"), the other Guarantors party hereto, the Lenders party hereto, and CITIBANK, N.A., as Administrative Agent (in such capacity, the "<u>Administrative Agent</u>").

W I T N E S S E T H:

WHEREAS, Borrower, Holdings and the Administrative Agent, *inter alios*, entered into that certain Amended and Restated Credit Agreement dated as of June 17, 2024 (as amended, restated, amended and restated, modified or supplemented prior to the date hereof, the "<u>Existing Credit Agreement</u>", the Existing Credit Agreement, as amended by this Amendment, the "<u>Credit Agreement</u>") by and among the Borrower, Holdings, the other Guarantors from time to time party thereto, the Lenders party thereto, the Issuing Banks party thereto and the Administrative Agent;

WHEREAS, Borrower desires to make certain amendments to Section 6.07 of the Existing Credit Agreement as set forth herein; and

NOW THEREFORE, in consideration of the premises and mutual covenants hereinafter set forth, the parties hereto agree as follows:

<u>Definitions</u>. Unless otherwise defined herein, capitalized terms defined in the Credit Agreement have the same meanings when used in this Amendment.

<u>Amendments to Section 6.07 of the Credit Agreement.</u> Section 6.07(b) of the Existing Credit Agreement is hereby amended and restated in its entirety as of the Amendment Effective Date (as defined below) as follows:

"(b) dividends in respect of ordinary common equity and preferred equity and repurchases of Equity Interests of the Borrower (or any direct or indirect parent thereof), in an aggregate amount not to exceed $100,000,000 per fiscal year; provided that no Default or Event of Default shall have occurred and be continuing at the time of such dividend distribution or repurchase and on or prior to the date of such dividend distribution or repurchase, Borrower delivers to the Administrative Agent a certificate of a Financial Officer certifying as to compliance with the financial covenants described in **<u>Section 5.02</u>** on a pro forma basis after giving effect to such dividend distribution or repurchase;"

<u>Effectiveness.</u> This Amendment shall become effective as of the date (the "<u>Amendment Effective Date</u>") on which the following conditions have been satisfied or waived:

the Administrative Agent (or its counsel) shall have received (i) a duly executed and completed counterpart hereof that bears the signature of each existing Loan Party, (ii) a duly executed and completed counterpart hereof that bears the signature of the Administrative Agent and (iii) a duly executed and completed counterpart hereof that bears the signature of each Lender party to the Credit Agreement;

the Administrative Agent shall have received reimbursement of reasonable and documented out of pocket expenses (to the extent invoiced no later than one Business Day prior to the Amendment Effective Date) in connection with this Amendment;

each of the representations and warranties set forth in Section 3 of the Credit Agreement and in the other Loan Documents shall be true and correct in all material respects (or, to the extent such representations and warranties are qualified by materiality, in all respects) on and as of the Amendment Effective Date with the same effect as though made on and as of the Amendment Effective Date (except to the extent such representation and warranty speaks to an earlier date, in which case such representation and warranty shall be true and correct in all material respects (or, to the extent such representations and warranties are qualified by materiality, in all respects) on and as of such earlier date); and

no Event of Default or Default shall have occurred and be continuing both before and after giving effect to this Amendment.

<u>Representations and Warranties.</u> Borrower represents and warrants to the Administrative Agent that as of the Amendment Effective Date:

Each of the representations and warranties set forth in Section 3 of the Credit Agreement and in the other Loan Documents are true and correct in all material respects (or, to the extent such representations and warranties are qualified by materiality, in all respects) on and as of the Amendment Effective Date with the same effect as though made on and as of the Amendment Effective Date (except to the extent such representation and warranty speaks to an earlier date, in which case such representation and warranty shall be true and correct in all material respects (or, to the extent such representations and warranties are qualified by materiality, in all respects) on and as of such earlier date).

No Default or Event of Default shall have occurred and be continuing both before and after giving effect to this Amendment.

<u>Effect of Amendment</u>.

Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders and the Administrative Agent under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or of any other Loan Document, all of which are hereby ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances.

Borrower and each Guarantor party hereto hereby (a) acknowledges and consents to this Amendment; (b) ratifies and confirms all of its respective obligations and liabilities under the Loan Documents to which it is a party and ratifies and confirms that such obligations and liabilities remain in full force and effect and extend to and continue in effect with respect to, and continue to guarantee and secure, as applicable, the obligations of Borrower under the Credit Agreement, as amended by this Amendment; and (c) acknowledges and confirms that the liens and security interests granted by it pursuant to the Security Documents to which it is a party are and continue to be valid and perfected (if and to the extent required to be perfected under the Security Documents to which it is a party) liens and security interests in the Collateral (subject only to Liens permitted under the Loan Documents) that secure all of the obligations of such Guarantor under the Loan Documents to which it is a party to the same extent that such liens and security interests in the Collateral were valid and perfected (if and to the extent required to be perfected under the Security Documents to which it is a party) immediately prior to giving effect to the execution and delivery of this Amendment.

On and after the Amendment Effective Date, each reference in the Credit Agreement to "this Agreement", "hereunder", "hereof", "herein", or words of like import, and each reference to the Credit Agreement in any other Loan Document shall be deemed a reference to the Credit Agreement as amended hereby.

This Amendment shall constitute a "Loan Document" for all purposes of the Credit Agreement and the other Loan Documents.

<u>GOVERNING LAW</u>. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

<u>Incorporation by Reference</u>. The parties hereto acknowledge and agree that Sections 10.07, 10.10, 10.11 and 10.13 of the Credit Agreement are incorporated herein by reference *mutatis mutandis*.

<u>Counterparts</u>. This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Amendment by email or facsimile transmission (or other electronic transmission) shall be effective as delivery of a manually executed counterpart hereof.

<u>Electronic Execution</u>. The words "execution", "signed", "signature" and words of like import in this Amendment shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

<u>Entire Agreement</u>. This Amendment embodies the entire agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes all prior or contemporaneous agreements and understandings of such Persons, verbal or written, relating to the subject matter hereof.

<u>Severability</u>. Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

<u>Headings</u>. The headings of this Amendment are used for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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

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| | |
|:---|:---|
| **NABORS INDUSTRIES, INC.,** | **NABORS INDUSTRIES, INC.,** |
| as Borrower | as Borrower |
| By: | /s/ Bob (Popin) Su |
| Name: | Bob (Popin) Su |
| Title: | Vice President & Treasurer |

---

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| | |
|:---|:---|
| **NABORS INDUSTRIES LTD.,** | **NABORS INDUSTRIES LTD.,** |
| as Holdings and a Guarantor | as Holdings and a Guarantor |
| By: | /s/ Mark D. Andrews |
| Name: | Mark D. Andrews |
| Title: | Corporate Secretary |

---

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| | |
|:---|:---|
| **NABORS INTERNATIONAL MANAGEMENT LIMITED,** | **NABORS INTERNATIONAL MANAGEMENT LIMITED,** |
| as a Guarantor | as a Guarantor |
| By: | /s/ Mark D. Andrews |
| Name: | Mark D. Andrews |
| Title: | President & Assistant Secretary |

---

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| | |
|:---|:---|
| **NABORS DRILLING TECHNOLOGIES USA, INC.**, | **NABORS DRILLING TECHNOLOGIES USA, INC.**, |
| as a Guarantor | as a Guarantor |
| By: | /s/ Michael Csizmadia |
| Name: | Michael Csizmadia |
| Title: | Senior Vice President, General Counsel & Chief Compliance Officer and Secretary |
| **NABORS HOLDINGS LTD**., | **NABORS HOLDINGS LTD**., |
| as a Guarantor | as a Guarantor |
| By: | /s/ Mark D. Andrews |
| Name: | Mark D. Andrews |
| Title: | President & Assistant Secretary |

---

[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **NABORS DRILLING HOLDINGS INC**., | **NABORS DRILLING HOLDINGS INC**., |
| as a Guarantor | as a Guarantor |
| By: | /s/ Michael Csizmadia |
| Name: | Michael Csizmadia |
| Title: | Senior Vice President, General Counsel & Chief Compliance Officer and Secretary |
| **NABORS LUX 2**, a private limited liability company *(societe ti responsabilite limitee)* incorporated and existing under the laws of the Grand-Duchy of Luxembourg, having its registered office at 8-10, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Trade and Companies *(Registre de Commerce et des Societes,* Luxembourg) under number B 154034, as a Guarantor | **NABORS LUX 2**, a private limited liability company *(societe ti responsabilite limitee)* incorporated and existing under the laws of the Grand-Duchy of Luxembourg, having its registered office at 8-10, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Trade and Companies *(Registre de Commerce et des Societes,* Luxembourg) under number B 154034, as a Guarantor |
| By: | /s/ Mark D. Andrews |
| Name: | Mark D. Andrews |
| Title: | Class A Manager |

---

[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **NABORS LUX FINANCE 1**, a private limited liability company (*societe ti responsabilite limitee)* incorporated and existing under the laws of the Grand-Duchy of Luxembourg, having its registered office at 8-10, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Trade and Companies *(Registre de Commerce et des Societes,* Luxembourg) under number B 153636, as a Guarantor | **NABORS LUX FINANCE 1**, a private limited liability company (*societe ti responsabilite limitee)* incorporated and existing under the laws of the Grand-Duchy of Luxembourg, having its registered office at 8-10, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Trade and Companies *(Registre de Commerce et des Societes,* Luxembourg) under number B 153636, as a Guarantor |
| By: | /s/ Mark D. Andrews |
| Name: | Mark D. Andrews |
| Title: | Class A Manager |

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[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **NABORS GLOBAL HOLDINGS LIMITED**, a private limited liability company *(societe ti responsabilite limitee)* incorporated and existing under the laws of the Grand-Duchy of Luxembourg, having its registered office at 8-10, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Trade and Companies *(Registre de Commerce et des Societes,* Luxembourg) under number B 155086, as a Guarantor | **NABORS GLOBAL HOLDINGS LIMITED**, a private limited liability company *(societe ti responsabilite limitee)* incorporated and existing under the laws of the Grand-Duchy of Luxembourg, having its registered office at 8-10, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Trade and Companies *(Registre de Commerce et des Societes,* Luxembourg) under number B 155086, as a Guarantor |
| By: | /s/ Henricus Reindert Petrus Pollmann |
| Name: | Henricus Reindert Petrus Pollmann |
| Title: | Class A Manager |
| By: | /s/ Mark D. Andrews |
| Name: | Mark D. Andrews |
| Title: | Class B Manager |
| **CANRIG DRILLING TECHNOLOGY CANADA LTD.**, | **CANRIG DRILLING TECHNOLOGY CANADA LTD.**, |
| as a Guarantor | as a Guarantor |
| By: | /s/ Cameron Craig |
| Name: | Cameron Craig |
| Title: | Secretary |
| **NABORS ALASKA DRILLING, INC.**, | **NABORS ALASKA DRILLING, INC.**, |
| as a Guarantor | as a Guarantor |
| By: | /s/ Josh Price |
| Name: | Josh Price |
| Title: | President |

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[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **CITIBANK, N.A.**, | **CITIBANK, N.A.**, |
| as Administrative Agent | as Administrative Agent |
| By: | /s/ Todd Mogil |
| Name: | Todd Mogil |
| Title: | Vice President |

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[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **CITIBANK, N.A.**, | **CITIBANK, N.A.**, |
| as a Lender and an Issuing Bank | as a Lender and an Issuing Bank |
| By: | /s/ Todd Mogil |
| Name: | Todd Mogil |
| Title: | Vice President |

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[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **WELLS FARGO BANK, N.A.**, | **WELLS FARGO BANK, N.A.**, |
| as a Lender and an Issuing Bank | as a Lender and an Issuing Bank |
| By: | /s/ Kevin Pang |
| Name: | Kevin Pang |
| Title: | Vice President |

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[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **Goldman Sachs Bank USA**, | **Goldman Sachs Bank USA**, |
| as a Lender | as a Lender |
| By: | /s/ Priyankush Goswami |
| Name: | Priyankush Goswami |
| Title: | Authorized Signatory |

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[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **HSBC Bank USA, N.A.**, | **HSBC Bank USA, N.A.**, |
| as a Lender | as a Lender |
| By: | /s/ Alberto Caudillo |
| Name: | Alberto Caudillo |
| Title: | Sr. Relationship Manager |
|  | Officer ID: 23427 |

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[*Signature Page to Amendment No. 1 to Credit Agreement*]

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| | |
|:---|:---|
| **Morgan Stanley Senior Funding, Inc.**,<br> as a Lender | **Morgan Stanley Senior Funding, Inc.**,<br> as a Lender |
| By: | /s/ Aaron McLean |
| Name: | Aaron McLean |
| Title: | Vice President |

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[*Signature Page to Amendment No. 1 to Credit Agreement*]