Document:

Termination Agreement - Quantum Pacific International Limited

 Exhibit 4.6 
 TERMINATION AGREEMENT 
 This TERMINATION AGREEMENT (this
“Agreement”) dated as of April 19, 2012, is among PACIFIC DRILLING (GIBRALTAR) LIMITED, a Gibraltar company (“PDGL”), QUANTUM PACIFIC INTERNATIONAL LIMITED, a British Virgin Islands company
(“QPIL”), and CITIBANK, N.A. (“Citibank”). 
 W I T N E
S S E T H 
 WHEREAS, pursuant to that certain Application for Standby Letter of Credit dated
as of June 27, 2011, executed by PDGL on behalf of PACIFIC INTERNATIONAL DRILLING WEST AFRICA LIMITED, a Nigerian corporation (“PIDWAL”) (as amended, modified or supplemented, the “SBLC Application”), Citibank
was requested to issue one or more of its irrevocable letters of credit for the benefit of Citibank Nigeria Limited. 
 WHEREAS,
in accordance with the SBLC Application and SBLC Agreement (defined below), Citibank issued that certain Letter of Credit L/C# 63658138 dated as of July 13, 2011 in favor of Citibank Nigeria Limited, as amended in accordance with the terms of a
letter dated July 15, 2011 issued by PDGL and addressed to Citibank, and as further amended by a letter dated as of July 21, 2011 issued by PDGL and addressed to Citibank (together, as amended, modified or supplemented, the “Letter
of Credit”). 
 WHEREAS, PDGL and Citibank are parties to that certain Pledge Agreement dated as of June 27, 2011
(as amended, modified or supplemented, the “Pledge”), pursuant to which PDGL pledged and granted to Citibank a security interest in all of its right, title and interest in, to and under the Collateral (as defined therein) as
security for PDGL’s obligations in connection with each Application (as defined therein) and for reimbursement of amounts drawn under any Letters of Credit issued by Citibank. 

WHEREAS, in order to induce Citibank to enter into an Agreement for Standby Letter of Credit, dated as of July 7, 2011 (the
“SBLC Agreement”) with PDGL, as the applicant therein named, pursuant to which Citibank would issue one or more standby letters of credit to Citibank Nigeria Limited to support the operations in Nigeria of the dynamically-positioned
drillship named “Pacific Bora” owned by PACIFIC BORA LTD., a Liberian corporation (“PBL”), QPIL issued a Guaranty dated as of July 7, 2011 in favor of Citibank (as amended, modified or supplemented, the
“Guaranty”). 
 WHEREAS, concurrently with the effectiveness of this Termination Agreement, PBL, PACIFIC
DRILLING LIMITED, a Liberian corporation (“PDL”) and PDGL, as U.S. Account Parties and Borrowers, PACIFIC DRILLING S.A., a company incorporated under the laws of Luxembourg (“PDSA”), as Guarantor, the Lenders Party
thereto, and Citibank as Administrative Agent, Arranger and as Issuing Bank, will enter into that certain Letter of Credit Facility and Guaranty Agreement (the “ Facility Agreement”), pursuant to which (i) Citibank as Issuing
Bank shall issue a letter of credit in favor of the TI Bond Issuing Bank and, effective as of the Effective Time, the Letter of Credit will be a “Letter of Credit” issued by Citibank as Issuing Bank under and as defined in the Facility
Agreement and (ii) Citibank shall receive security and a guaranty satisfactory to Citibank to secure and guarantee the obligations of the Obligors (as therein defined). 

  
 Termination
Agreement - PACIFIC BORA 

  

 WHEREAS, PDGL and Citibank wish to terminate the Pledge and QPIL wishes to terminate the
Guaranty, all on the terms set forth herein. 
 NOW, THEREFORE, the parties hereto hereby agree as follows: 

1. Interpretation. In this Agreement, the following expressions shall have the following meanings: 

“Effective Time” means such time and date, as advised by Citibank, as there shall have occurred the “Initial
Extension of Credit” under and as defined in, the Facility Agreement, upon the occurrence of which the Letter of Credit will be a “Letter of Credit” issued by Citibank as Issuing Bank under and as defined in the Facility Agreement.

 Capitalized terms used, but not defined in this Agreement, shall have the respective meanings assigned to them (whether by
reference to another document or otherwise) in the Pledge. 
 2. Termination. Each of the parties hereto agrees that
effective as of the Effective Time, the following agreements (the “Transaction Documents”) will terminate and the parties thereto will have no further rights or obligations thereunder, except for any such rights or obligations that
expressly, by their terms, survive such termination: 
 (a) The Pledge. 

(b) The Guaranty. 
 3. Termination of Security Interest. Effective as of the Effective Time, Citibank hereby discharges and terminates, cancels and re-assigns to each of PDGL and QPIL, as the case may be, its security
interest, liens and assignments in, and releases (without further action and without recourse, representation and warranty), whether express or implied, any lien upon all right, title and interest of Citibank in, to and under the Transaction
Documents. 
 4. Release. In addition, effective as of the Effective Time, each of PDGL and QPIL and their respective
affiliates and subsidiaries party to the Transaction Documents, hereby release Citibank and each of its affiliates and subsidiaries and their respective officers, directors, employees, shareholders, agents and representatives as well as their
respective successors and assigns from any and all claims, obligations, rights, causes of action, and liabilities, of whatever kind or nature, whether known or unknown, whether foreseen or unforeseen, arising on or before the date hereof, which PDGL
and QPIL and each of their respective affiliates and subsidiaries party to the Transaction Documents ever had, now have or hereafter can, shall or may have for, upon or by reason of any matter, cause or thing whatsoever, which are based upon, arise
under or are related to the Transaction Documents. 
 5. Further Assurances. Each of the parties hereby agrees that,
subject to the terms and conditions of this Agreement, it will from time to time at the reasonable request of the other party hereto promptly do all such things and execute, acknowledge, deliver, file and register all such documents, instruments,
agreements, releases, certificates, consents and assurances as such party may reasonably consider necessary or desirable in order to give full effect to this Agreement or to perfect the release intended to be effected by this Agreement. 

  
 Termination
Agreement - PACIFIC BORA 

  
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 6. Counterparts. This Agreement may be executed by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument. 
 7. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 8. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT
OF OR RELATING TO THIS AGREEMENT. 
 * Signature Pages Follow * 

  
 Termination
Agreement - PACIFIC BORA 

  
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 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Termination
Agreement on the date first above written. 
  

			
	PACIFIC DRILLING (GIBRALTAR) LIMITED
		
	By:	 	/s/ CHRISTIAN J. BECKETT
		 	Name: CHRISTIAN J. BECKETT
		 	Title: DIRECTOR
	
	QUANTUM PACIFIC INTERNATIONAL LIMITED
		
	By:	 	/s/ D.U. TUGMAN
		 	Name: D. U. TUGMAN
		 	Title: DIRECTOR
	
	CITIBANK, N.A.
		
	By:	 	/s/ ROBERT MALLECK
		 	Name: ROBERT MALLECK
		 	Title: VICE PRESIDENT

  
 Termination
Agreement - PACIFIC BORA 

  
 4Termination Agreement - Standard Chartered Bank

 Exhibit 4.7 
 TERMINATION AGREEMENT 
 This TERMINATION AGREEMENT (this
“Agreement”) dated as of April 24, 2012, is among PACIFIC DRILLING (GIBRALTAR) LIMITED, a Gibraltar company (“PDGL”), and Standard Chartered Bank. (“SCB”). 

W I T N E S S E T H 

WHEREAS, PDGL and SCB are parties to that certain Assignment of Cash Collateral Account dated as of December 6, 2011, (as amended,
modified or supplemented, the “Cash Collateral Agreement”), pursuant to which PDGL pledged and granted to SCB a security interest in all of its right, title and interest in, to and under the Collateral (as defined therein) as
security for the Obligations (as defined therein). 
 WHEREAS, concurrently with the effectiveness of this Termination
Agreement, PACIFIC SCIROCCO LTD., a Liberian corporation (“PSL”), PACIFIC DRILLING LIMITED, a Liberian corporation (“PDL”) and PDGL, as U.S. Account Parties and Borrowers, PACIFIC DRILLING S.A., a company
incorporated under the laws of Luxembourg (“PDSA”), as Guarantor, the Lenders Party thereto, and Citibank, N.A., as issuing bank (the ’        
g         and, together with such other institution as may hereafter accede thereto as an “Issuing Bank”, collectively, the “Issuing Banks”) and Citibank, N.A. as Administrative
Agent and Arranger, will enter into that certain Letter of Credit Facility and Guaranty Agreement (the “Facility Agreement”), pursuant to which Citibank as issuing Bank shall issue a letter of credit in favor of SCB. 

WHEREAS, PDGL and SCB wish to terminate the Cash Collateral Agreement and release all Collateral (as defined therein), all on the terms
set forth herein. 
 NOW, THEREFORE, the parties hereto hereby agree as follows: 

1. Interpretation. In this Agreement, the following expressions shall have the following meanings: 

“Effective Time” means such time and date as the following two conditions have been met: (i) the “Initial
Extension of Credit” under and as defined in, the Facility Agreement shall have occurred and (ii) a letter of credit in form and substance satisfactory to SCB shall have been issued by Citibank, N.A. under the Facility Agreement in favor
of SCB. 
 Capitalized terms used, but not defined in this Agreement, shall have the respective meanings assigned to them
(whether by reference to another document or otherwise) in the Cash Collateral Agreement. 
 2. Termination.
Notwithstanding anything to the contrary contained in Section 10 of the Cash collateral Agreement, each of the parties hereto agrees that effective as of the Effective Time, the Cash Collateral Agreement will terminate and the parties thereto
will have no further rights or obligations thereunder, except for any such rights or obligations that expressly, by their terms, survive such termination. 

  
 Termination
Agreement - PACIFIC SCIROCCO SCB 

  

 3. Termination of Security Interest and Release of Collateral. Effective as of the
Effective Time, SCB hereby discharges and terminates, cancels and re-assigns to PDGL its security interest, liens and assignments in, and releases (without further action and without recourse, representation and warranty), whether express or
implied, any lien upon all right, title and interest of SCB in, to and under the Cash Collateral Agreement. Effective as of the Effective Time, SCB shall immediately release any Collateral (as defined in the Cash Collateral Agreement) and return it
to PDGL. 
 4. Further Assurances. Each of the parties hereby agrees that, subject to the terms and conditions of this
Agreement, it will from time to time at the reasonable request of the other party hereto promptly do all such things and execute, acknowledge, deliver, file and register all such documents, instruments, agreements, releases, certificates, consents
and assurances as such party may reasonably consider necessary or desirable in order to give full effect to this Agreement or to perfect the release intended to be effected by this Agreement. 

5. Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and
delivered shall be an original, but all such counterparts shall together constitute one and the same instrument. 
 6.
GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

7. WAIVER OF JURY TRIAL. AFTER REVIEWING THIS PROVISION SPECIFICALLY WITH ITS RESPECTIVE COUNSEL, EACH OF THE COMPANY AND THE BANK HEREBY
KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY AND ALL RIGHTS THE COMPANY AND THE BANK MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH, THIS AGREEMENT OR ANY COURSE OF CONDUCT,
COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF THE COMPANY OR THE BANK. 

*         Signature Pages Follow         * 

  
 Termination
Agreement - PACIFIC SCIROCCO SCB 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Termination
Agreement on the date first above written. 
  

			
	PACIFIC DRILLING (GIBRALTAR) LIMITED
		
	By:	 	/s/ CHRISTIAN J. BECKETT
		 	  

		 	Name: CHRISTIAN J. BECKETT
		 	Title: DIRECTOR
	
	STANDARD CHARTERED BANK
		
	By:	 	/s/ JACK IWSINGA
		 	  

		 	Name: JACK IWSINGA
		 	Title: DIRECTOR
		
	By:	 	/s/ ANDREW Y. NG
		 	  

		 	Name: ANDREW Y. NG
		 	 Title: DIRECTOR

           STANDARD CHARTERED BANK NY

  
 Termination
Agreement - PACIFIC SCIROCCO SCB 

  
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