Document:

exv10w1

Exhibit 10.1

SIXTH AMENDMENT TO CREDIT AGREEMENT AND CONSENT TO ASSET SALE

          THIS SIXTH AMENDMENT TO CREDIT AGREEMENT AND CONSENT TO ASSET SALE (referred to below) (this
“Sixth Amendment”), dated as of December 16, 2010, by and among, TRICO SUPPLY AS, a limited
company organized under the laws of Norway (“Holdings”), the Subsidiary Guarantors listed
on Schedule IX to the Credit Agreement (as defined below) (the “Subsidiary
Guarantors”), TRICO SHIPPING AS, a limited company organized under the laws of Norway and a
wholly-owned Subsidiary of Holdings (the “Borrower”), the Lenders (as defined below) party
hereto and NORDEA BANK FINLAND PLC, NEW YORK BRANCH (“Nordea”), as Administrative Agent (in
such capacity, the “Administrative Agent”). Unless otherwise indicated, all capitalized
terms used herein and not otherwise defined shall have the respective meanings provided such terms
in the Credit Agreement referred to below.

W I T N E S S E T H:

          WHEREAS, the Borrower, Holdings, Trico Holdco LLC, Trico Marine Cayman, L.P., the Subsidiary
Guarantors, the lenders from time to time party thereto (each, a “Lender” and,
collectively, the “Lenders”) and the Administrative Agent are parties to a Credit
Agreement, dated as of October 30, 2009 (as amended by that certain First Amendment and Waiver to
Credit Agreement dated as of March 15, 2010, that certain Second Amendment to Credit Agreement and
Forbearance Agreement (the “Second Amendment”) dated as of June 17, 2010, that certain
Third Amendment to Credit Agreement and Forbearance Agreement (the “Third Amendment”) dated
as of June 29, 2010, that certain Fourth Amendment to Credit Agreement (the “Fourth
Amendment”) dated as of July 23, 2010 and that certain Fifth Amendment to Credit Agreement and
Forbearance Agreement (the “Fifth Amendment”) dated as of September 21, 2010, the “Credit
Agreement”); and

          WHEREAS, the Credit Parties have requested that the Lenders consent to the sales of the
Mortgaged Vessels the “Star” and the “Sabre” notwithstanding Section 10.02 of the Credit Agreement
or any other provision of the Credit Agreement, the Credit Documents or any other documents related
thereto, on the terms and conditions set forth in this Sixth Amendment; and

          NOW, THEREFORE, in consideration of the premises, the mutual covenants contained herein and
for other valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
Credit Parties and the Lenders party hereto hereby agree as follows:

ARTICLE I

AMENDMENTS TO CREDIT AGREEMENT AND REDUCTION OF COMMITMENTS

     Section 1.01. Amendment to Section 9. Section 9 of the Credit Agreement is hereby
amended to add the following new Sections 9.16 and 9.17:

     “Section 9.16 Delivery of Term Sheets and Proposals. Promptly after any Credit
Party’s receipt thereof, deliver to each Lender a copy of any term sheet,

 

 

letter of intent or other agreement or proposal received by the Borrower or any other
Credit Party or any of their Affiliates related to any restructuring, liquidation, or sale
of assets of the Borrower or any other Credit Party

          Section 9.17. Weekly Updates. If requested by the Agent, any Term Lender
and/or any Revolving Lender, the Term Lenders and/or the Revolving Lenders shall have the
right to receive an update (via meeting or conference call with the Borrower’s senior
management and/or its advisors) on progress toward a restructuring or liquidation of the
Borrower and its Subsidiaries.”

     Section 1.02. Reduction of Revolving Loan Commitment.

          (a) Pursuant to Section 4.02 of the Credit Agreement, the Borrower hereby agrees that upon the
repayment of Revolving Loans set forth in Section 2.01(b)(iii) hereof, the Revolving Loan
Commitment shall be reduced in an amount equal to the Revolving Loans so repaid and,
notwithstanding anything to the contrary contained in the Credit Agreement, shall be applied to
reduce the Revolving Loan Commitment in inverse order of maturity rather than on a pro rata basis.

          (b) It is hereby understood and acknowledged by the Borrower and the Revolving Lenders that
the Revolving Loan Commitment on the Sixth Amendment Effective Date is equal to $11,922,989.60
(immediately after the reduction of the Revolving Loan Commitment pursuant to Section 1.02(a)
above) and, pursuant to Section 4.03(b) of the Credit Agreement, the Scheduled Commitment
Reduction on January 1, 2011 shall be equal to $2,180,616.74 and the repayment of Revolving Loans
on such date shall therefore be equal to $2,180,616.74 minus the aggregate amount of any Letters of
Credit that have expired or been terminated since the Fifth Amendment Effective Date.

ARTICLE II

CONSENT

          Section 2.01. Consent to the Sale of the Star and the Sabre. In reliance on the
representations and warranties of the Credit Parties set forth herein, each of the Lenders
signatory hereto hereby consents to the sale of the Star and the Sabre free and clear of the Lien
created by the Security Documents so long as the following conditions are satisfied:

          (a) the total sale price for the Star and Sabre shall not be less than $52,300,000;

          (b) no later than one(1) Business Day after the date of receipt thereof, the Borrower
shall apply the Net Cash Proceeds received by the Borrower or any of its Subsidiaries from
such sale as follows:

               (i) $20,000,000 shall be retained by the Borrower for uses and expenses in accordance
with the Budget attached hereto as Exhibit A;

 

 

               (ii) $1,919,932.04, shall be used to repay the outstanding principal amount of the
Tranche A Term Loans, (which payment shall be accompanied by the accrued interest thereon);

               (iii) $780,218.48, shall be used to repay the outstanding principal amount of the
Revolving Loans (which payment shall be accompanied by the accrued interest thereon) or
cash collateralize outstanding Letters of Credit; and

               (iv) the Net Cash Proceeds not applied under clauses (i) through (iii) above shall be
used to repay obligations under the Senior Notes Documentation.

          Section 2.02. Waiver of Restriction on Payment and Prepayment Premium. Any repayment
of the Obligations pursuant to Section 2.01(b)(ii) above shall constitute a voluntary prepayment
under the Credit Agreement. The Lenders hereby waive all prepayment restrictions and agree that no
Prepayment Premium shall be required, in each case, pursuant to Section 5.01(b) of the Credit
Agreement.

          Section 2.03 Consent to the Fifth Amendment to the Priority Credit Agreement. In
reliance on the representations and warranties of the Credit Parties set forth herein, each of the
Lenders signatory hereto hereby consents to the Credit Parties entering into that certain Fifth
Amendment to the Priority Credit Agreement, dated as of December 16, 2010 among Trico Supply AS,
the subsidiary guarantors party thereto, Trico Shipping AS, the lenders party thereto, and Cantor
Fitzgerald Securities, as administrative agent, a copy of which was attached to hereto as Exhibit B
(the “Amendment to the Priority Credit Agreement”).

ARTICLE III

REAFFIRMATION

          Section 3.01. Each Credit Party hereby acknowledges and agrees that it expects to realize
substantial direct and indirect benefits as a result of the transactions contemplated by this Sixth
Amendment.

          Section 3.02. Each Credit Party hereby acknowledges its receipt of this Sixth Amendment and
its review of the terms and conditions hereof and consents to the terms and conditions of this
Sixth Amendment.

          Section 3.03. Each Credit Party, by executing and delivering a copy hereof, hereby (i) affirms
and confirms its guarantee, pledge, grant and other agreements under and pursuant to the applicable
Guaranty and the Security Documents (including, without limitation, any such Security Documents
governed by the laws of New York, Brazil, Cayman, Island of Guernsey, Mexico, Netherlands, Norway,
Scotland, Bahamas, Isle of Man, Vanuatu and England and Wales) in accordance with the terms and
provisions thereof and (ii) agrees that, notwithstanding the effectiveness of this Sixth Amendment,
(x) each such Guaranty and Security Document continues to be in full force and effect and (y) all
guarantees, pledges, grants and other agreements thereunder shall continue to be in full force and
effect without interruption to secure the Secured Obligations (including, for the avoidance of
doubt, the Revolving Loans and Term Loans made by the Lenders from and after the date hereof and
all other obligations under

 

 

the Credit Documents as each such Credit Document may be amended on the date hereof and as it may
be further amended, restated, modified or supplemented from time to time), in each case, as such
agreements and other documents are being amended hereby or in connection herewith.

ARTICLE IV

MISCELLANEOUS PROVISIONS

          Section 4.01. In order to induce the Lenders to enter into this Sixth Amendment, each of
Holdings and the Borrower hereby (i) represent and warrant that other than the Specified Events of
Default (as defined in the Fifth Amendment) and the Defaults and Events of Default listed on
Exhibit C hereto, (a) no Default or Event of Default exists as of the Sixth Amendment
Effective Date after giving effect to this Sixth Amendment, (b) all of the representations and
warranties contained in the Credit Agreement (other than the representations contained in
Section 8.05(b), Section 8.05(e) and Section 8.06 of the Credit Agreement,
and any representation or warranty which has been rendered untrue as a result of the Specified
Events of Default or the Defaults and Events of Default listed on Exhibit C hereto) are
true and correct in all material respects on the Sixth Amendment Effective Date both before and
after giving effect to this Sixth Amendment, with the same effect as though such representations
and warranties had been made on and as of the Sixth Amendment Effective Date (it being understood
that any representation or warranty made as of a specific date shall be true and correct in all
material respects as of such specific date) and (c) other than described under Section 2.01 herein,
neither the Borrower nor any of its affiliates have paid or have agreed to pay any other fee or
compensation to any of the Priority Facility Lenders, any of the holders of the Senior Notes, the
Term Lenders or the Revolving Lenders in connection with the consent to the sale of the Star and
the Sabre; and (ii) acknowledge and agree that nothing contained in this Sixth Amendment shall be
construed as a waiver by the Lenders of any the Defaults and Events of Default listed on
Exhibit C hereto.

          Section 4.02. The Lenders and each of the Agents hereby reserve all rights granted under the
Credit Agreement and the other Credit Documents (each as so amended, supplemented or modified),
this Sixth Amendment, and any other contract or instrument between the Credit Parties, any other
Person, Agent, and Lender, including, without limitation, as a consequence of any Default or Event
of Default listed on Exhibit C.

          Section 4.03. This Sixth Amendment is limited as specified and shall not constitute a
modification, acceptance, consent to deviation from or waiver of any other provision of the Credit
Agreement or any other Credit Document.

          Section 4.04. This Sixth Amendment may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which counterparts when executed and
delivered shall be an original, but all of which shall together constitute one and the same
instrument. A complete set of counterparts shall be lodged with the Borrower and the Administrative
Agent. Delivery of an executed signature page to this Sixth Amendment by facsimile transmission, as
a .pdf attachment or by other electronic means of transmission shall be as effective as delivery of
a manually signed counterpart of this Sixth Amendment.

 

 

          Section 4.05. THIS SIXTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK AND SHALL BE
SUBJECT TO THE WAIVER OF JURY TRIAL AND NOTICE PROVISIONS IN THE CREDIT AGREEMENT.

          Section 4.06. This Sixth Amendment shall become effective on the date (the “Sixth
Amendment Effective Date”) when each of the following conditions shall have been satisfied:

     (i) the Borrower shall have paid all invoiced fees, costs, and expenses (including
legal fees, consulting fees, commitment fees, costs and expenses and recording taxes and
fees) of the Lenders and the Administrative Agent in full accrued to date (including,
without limitation, all fees and expenses accrued pursuant to Section 14.01 of the Credit
Agreement) and all fees and expenses incurred in connection with the transactions
contemplated herein;

     (ii) each Credit Party, the Required Revolving Lenders and the Required Term Lenders
shall have signed a counterpart hereof (whether the same or different counterparts) and
delivered the same (including by way of facsimile or other electronic transmission) to
White & Case LLP, 1155 Avenue of the Americas, New York, NY 10036 Attention: May
Yip-Daniels (facsimile number: 212-354-8113 / email: myip@whitecase.com);

     (iii) the consummation of the transactions contemplated herein shall not have resulted
in any material conflict with, or any material default under, any material agreement of
Holdings or any Subsidiary thereof; and

     (iv) an amendment to the Priority Credit Agreement which provides for payment of all
reasonable out-of-pocket costs and expenses of the Term Lenders and the Revolving Lenders
(including, without limitation, the reasonable fees and disbursements of Latham & Watkins
LLP, White & Case LLP and Term Lenders’ local maritime counsel and the Term Lenders’
consultants), in each case, in connection with the preparation, execution and delivery of
the Priority Credit Agreement, this Agreement and the other Credit Documents and the
documents and instruments referred to herein and therein and any amendment, waiver,
assignment or consent relating hereto or thereto and the Term Lenders and the Revolving
Lenders and in connection with the enforcement of the Priority Credit Agreement, this
Agreement and the other Credit Documents and the documents and instruments referred to
herein and therein or in connection with any refinancing or restructuring of the credit
arrangements provided under this Agreement in the nature of a “work-out” or pursuant to any
insolvency or bankruptcy proceedings (including, in each case without limitation, the
reasonable fees and disbursements of counsel and consultants for Term Lenders and Revolving
Lenders.

          Section 4.07. Except for deliveries that are required pursuant to the Credit Agreement, each
of the parties hereto agree and acknowledge that notwithstanding anything to the contrary contained
herein, none of the Administrative Agent or the Borrower or any of its

 

 

Subsidiaries shall have any duty to disseminate any information or materials, or to solicit the
participation, of any Lender (or any affiliate (including funds under common management) thereof).

          Section 4.08. The Borrower and its Subsidiaries agree to indemnify and hold harmless the
Administrative Agent, the Lenders and their respective affiliates and each director, officer,
employee, representative and agent thereof (each, an “indemnified person”) from and against
any and all actions, suits, proceedings (including any investigations or inquiries), claims,
losses, damages, liabilities or expenses of any kind or nature whatsoever which may be incurred by
or asserted against or involve the Administrative Agent, the Lenders or any other such indemnified
person as a result of or arising out of or in any way related to or resulting from the matters
described in the foregoing paragraph and, upon demand, to pay and reimburse the Administrative
Agent, the Lenders and each other indemnified person for any reasonable legal or other
out-of-pocket expenses paid or incurred in connection with investigating, defending or preparing to
defend any such action, suit, proceeding (including any inquiry or investigation) or claim (whether
or not the Administrative Agent, the Lenders or any other such indemnified person is a party to any
action or proceeding out of which any such expenses arise). Notwithstanding the foregoing, no
indemnified party shall be entitled to seek any indemnity for any indemnifiable claim arising from
the gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a
final and non-appealable decision) of such indemnified person.

          Section 4.09. From and after the Sixth Amendment Effective Date, all references in the Credit
Agreement and each of the other Credit Documents to the Credit Agreement shall be deemed to be
references to the Credit Agreement as amended by the Sixth Amendment.

          Section 4.10. In consideration of, among other things, the execution and delivery of this
Sixth Amendment by the Administrative Agent and the Lenders, and the accommodations to the Borrower
and the other Credit Parties set forth herein, each of the Borrower and the other Credit Parties,
on behalf of itself and its successors and assigns (collectively, the “Releasors”), hereby
forever waives, releases and discharges to the fullest extent permitted by law, and hereby agrees
to hold each Releasee (as defined below) harmless from, any and all claims (including, without
limitation, crossclaims, counterclaims, rights of set-off and recoupment), causes of action,
demands, suits, costs, expenses and damages (collectively, the “Claims”), that any Releasor
now has, of whatsoever nature and kind, whether known or unknown, whether arising at law or in
equity, against any or all of the Administrative Agent, the Collateral Agent, and/or the Lenders,
in each case, in any capacity and their respective affiliates, shareholders and “controlling
persons” (within the meaning of the federal securities laws), and their respective successors and
assigns and each and all of the officers, directors, employees, consultants, agents, attorneys and
other representatives of each of the foregoing (collectively, the “Releasees”), based in
whole or in part on facts, whether or not now known, existing on or before the date hereof. The
execution by the Borrower and the Credit Parties hereof shall constitute a ratification, adoption,
and confirmation by the Borrower and the other Credit Parties of the foregoing general releases of
all Claims against any Releasee which are based in whole or in part on facts, whether or not now
known or unknown, existing on or prior to the date hereof. In entering into this Sixth Amendment,
the Borrower and the other Credit Parties have consulted with, and been represented by, legal
counsel and expressly disclaim any reliance on any representations, acts or

 

 

omissions by any of the Releasees and hereby agree and acknowledge that the validity and
effectiveness of the releases set forth above do not depend in any way on any such representations,
acts and/or omissions or the accuracy, completeness or validity hereof. The provisions of this
Section shall survive the termination of the Credit Agreement (as amended hereby) and the other
Credit Documents and payment in full of the Obligations.

*           *           *

 

 

          IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute
and deliver this Sixth Amendment as of the date first above written.

	 	 	 	 	 
	 	TRICO SHIPPING AS

 	 
	 	By:  	/s/ Gerald Alistair Gray
 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	TRICO SUPPLY AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	DEEPOCEAN SHIPPING III AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEEPOCEAN SHIPPING II AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	DEEPOCEAN SHIPPING AS

 	 
	 	By:  	/s/ Gerald Alistair Gray
 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	DEEPOCEAN AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	TRICO SUPPLY (UK) LIMITED

 	 
	 	By:  	/s/ Gerald Alistair Gray
 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	ALBYN MARINE LIMITED

 	 
	 	By:  	/s/ Gerald Alistair Gray
 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	CTC MARINE PROJECTS LIMITED

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Director 	 
	 
	 	DEEPOCEAN BRASIL SERVICOS LTDA.

 	 
	 	By:  	/s/ Tomás Salazar
 	 
	 	 	Name:  	Tomás Salazar 	 
	 	 	Title:  	Manager 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEEPOCEAN MARITIME AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	DEEPOCEAN MANAGEMENT AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	DEEPOCEAN DE MEXICO, S. DE R.L. DE C.V.

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Manager 	 
	 
	 	CTC MARINE NORWAY AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	CTC MARINE PROJECTS (GUERNSEY) LIMITED

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Director 	 
	 
	 	DEEPOCEAN SUBSEA SERVICES LIMITED

 	 
	 	By:  	/s/ Gerald Alistair Gray
 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	DEEPOCEAN B.V.

 	 
	 	By:  	/s/ Mads Ragnar Bårdsen
 	 
	 	 	Name:  	Mads Ragnar Bårdsen 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEEPOCEAN UK. LTD.

 	 
	 	By:  	/s/ Gerald Alistair Gray
 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	SERVICIOS PROFESIONALES DE APOYO ESPECIALIZADO, S. DE R.L. DE C.V.

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Manager 	 
	 
	 	SERVICIOS DE SOPORTE PROFESIONAL ADMINISTRATIVO, S. DE R.L. DE C.V.

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Manager 	 
	 
	 	TRICO SUBSEA AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	TRICO SUBSEA HOLDING AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 

 

 

	 	 	 	 	 
	 	ADMINISTRATIVE AGENT:

NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Lender and as Administrative Agent

 	 
	 	By:  	/s/ Martin Lunder
 	 
	 	 	Name:  	Martin Lunder 	 
	 	 	Title:  	Senior Vice President 	 
	 	 	 
	 	By:  	/s/ Justin Martin
 	 
	 	 	Name:  	Justin Martin 	 
	 	 	Title:  	Associate 	 
	 

Signature Page to Sixth Amendment to $33M Trico Working Capital Facility

 

 

	 	 	 	 	 
	 	LENDERS:

SPECIAL VALUE CONTINUATION PARTNERS, LP

TENNENBAUM OPPORTUNITIES PARTNERS V, LP

TENNENBAUM DIP OPPORTUNITY FUND, LLC

 	 
	 	By:  	Tennenbaum Capital Partners, LLC,
 	 
	 	 	Investment Manager of each of the above 	 
	 	 	companies 	 
	 	 	 
	 	By:  	/s/ Howard Levkowitz
 	 
	 	 	Name:  	Howard Levkowitz 	 
	 	 	Title:  	Managing Partner 	 
	 

Signature Page to Sixth Amendment to the Credit Agreement

 

 

	 	 	 	 	 
	 	LENDER:

UNICREDIT BANK AG (f/k/a BAYERISCHE HYPO-UND VERBINSBANK), as Lender

 	 
	 	By:  	/s/ Somitsch
 	 
	 	 	Name:  	Somitsch 	 
	 	 	Title:  	Vice President 	 
	 	 	 
	 	By:  	/s/ Langmaack
 	 
	 	 	Name:  	Langmaack 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Sixth Amendment to $33M Trico Working Capital Facility

 

 

Exhibit A

Budget

 

 

     

			
	TMRA — 13 Week CF (OpCo Consol) — 12.15.10 — 1500 Hrs S&S.xlsx
	 	13 Week Cash Flow — Subject to Change

Trico Supply AS

13 Week Cash Flow — OpCo Consolidated

(USD 000’s)

     

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Actual	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	Forecast	 	 	 	 
	 	 	Week 26	 	 	Week 27	 	 	Week 28	 	 	Week 29	 	 	Week 30	 	 	Week 31	 	 	Week 32	 	 	Week 33	 	 	Week 34	 	 	Week 35	 	 	Week 36	 	 	Week 37	 	 	Week 38	 	 	Week 39	 	 	Total	 
	     Week Ending:	 	10-Dec-10	 	 	17-Dec-10	 	 	24-Dec-10	 	 	31-Dec-10	 	 	7-Jan-11	 	 	14-Jan-11	 	 	21-Jan-11	 	 	28-Jan-11	 	 	4-Feb-11	 	 	11-Feb-11	 	 	18-Feb-11	 	 	25-Feb-11	 	 	4-Mar-11	 	 	11-Mar-11	 	 	13 Weeks	 
	Beginning Cash (Unrestricted)
	 	$	18,330	 	 	$	17,900	 	 	$	29,471	 	 	$	16,879	 	 	$	21,286	 	 	$	21,957	 	 	$	13,461	 	 	$	4,700	 	 	$	(1,921	)	 	$	2,095	 	 	$	490	 	 	$	(4,755	)	 	$	(4,592	)	 	$	(2,148	)	 	$	17,900	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	Total Receipts
	 	 	1,807	 	 	 	3,094	 	 	 	8,476	 	 	 	12,570	 	 	 	11,938	 	 	 	3,015	 	 	 	5,059	 	 	 	5,464	 	 	 	15,806	 	 	 	4,504	 	 	 	9,177	 	 	 	11,089	 	 	 	12,091	 	 	 	2,294	 	 	 	104,578	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	Total Operating Disbursements
	 	 	(7,746	)	 	 	(11,519	)	 	 	(18,883	)	 	 	(6,667	)	 	 	(8,067	)	 	 	(10,761	)	 	 	(13,070	)	 	 	(12,054	)	 	 	(9,163	)	 	 	(6,110	)	 	 	(14,421	)	 	 	(10,176	)	 	 	(8,042	)	 	 	(8,061	)	 	 	(136,994	)
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	Total Net Cash Flow From
Operations
	 	 	(5,940	)	 	 	(8,425	)	 	 	(10,406	)	 	 	5,903	 	 	 	3,870	 	 	 	(7,746	)	 	 	(8,011	)	 	 	(6,590	)	 	 	6,643	 	 	 	(1,606	)	 	 	(5,245	)	 	 	913	 	 	 	4,049	 	 	 	(5,766	)	 	 	(32,416	)
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Transfers to HoldCo — NS
	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	(750	)	 	 	(750	)	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	(750	)	 	 	—	 	 	 	—	 	 	 	(2,250	)
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	Non-Operating Disbursements
	 	 	(1,567	)	 	 	19,996	 	 	 	(2,186	)	 	 	(1,495	)	 	 	(3,200	)	 	 	—	 	 	 	—	 	 	 	(31	)	 	 	(2,627	)	 	 	—	 	 	 	—	 	 	 	—	 	 	 	(1,605	)	 	 	—	 	 	 	8,852	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	Total Net Cash Flow
	 	 	(7,507	)	 	 	11,571	 	 	 	(12,592	)	 	 	4,408	 	 	 	670	 	 	 	(8,496	)	 	 	(8,761	)	 	 	(6,621	)	 	 	4,017	 	 	 	(1,606	)	 	 	(5,245	)	 	 	163	 	 	 	2,445	 	 	 	(5,766	)	 	 	(25,814	)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Borrowings — NS
	 	 	7,076	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	Total Net Cash Flow after
Borrowings
	 	 	(430	)	 	 	11,571	 	 	 	(12,592	)	 	 	4,408	 	 	 	670	 	 	 	(8,496	)	 	 	(8,761	)	 	 	(6,621	)	 	 	4,017	 	 	 	(1,606	)	 	 	(5,245	)	 	 	163	 	 	 	2,445	 	 	 	(5,766	)	 	 	(25,814	)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ending Cash (Unrestricted)
	 	$	17,900	 	 	$	29,471	 	 	$	16,879	 	 	$	21,286	 	 	$	21,957	 	 	$	13,461	 	 	$	4,700	 	 	$	(1,921	)	 	$	2,095	 	 	$	490	 	 	$	(4,755	)	 	$	(4,592	)	 	$	(2,148	)	 	$	(7,914	)	 	$	(7,914	)
	 	 	 	 	 	 

	 	 	 
	CONFIDENTIAL Not for public    disclosure  or investment purposes.

Forward-looking  statements are subject to risks uncertainties; actual results may differ materially
	 	13 Week CF (OpCo Consol)

 

Page 1 of 1

 

Exhibit B

Fifth Amendment to the Priority Credit Agreement

 

 

EXECUTION COPY

FIFTH AMENDMENT AND CONSENT TO PRIORITY CREDIT AGREEMENT

          THIS FIFTH AMENDMENT AND CONSENT TO PRIORITY CREDIT AGREEMENT (this “Consent”), dated
as of December 16, 2010, by and among TRICO SUPPLY AS, a limited company organized under the laws
of Norway (“Holdings”), the Subsidiary Guarantors listed on Schedule IX to the
Credit Agreement (as defined below) (the “Subsidiary Guarantors”), TRICO SHIPPING AS, a
limited company organized under the laws of Norway and a wholly-owned Subsidiary of Holdings (the
“Borrower”), the Lenders (as defined below) party hereto, and CANTOR FITZGERALD SECURITIES
(“Cantor”), as Administrative Agent (in such capacity, the “Administrative Agent”). Unless
otherwise indicated, all capitalized terms used herein and not otherwise defined herein shall have
the respective meanings provided such terms in the Credit Agreement referred to below.

W I T N E S S E T H:

          WHEREAS, the Borrower, Holdings, the Subsidiary Guarantors, the lenders from time to time
party thereto (each, a “Lender” and, collectively, the “Lenders”) and the
Administrative Agent are parties to a Priority Credit Agreement, dated as of September 21, 2010 (as
amended by the First Amendment to Priority Credit Agreement, dated as of October 1, 2010, the
Second Amendment to Priority Credit Agreement, dated as of October 15, 2010, and the Third
Amendment, Consent and Waiver to Priority Credit Agreement, dated as of November 12, 2010, and the
Fourth Amendment and Waiver to Priority Credit Agreement, dated as of December 3, 2010, the
“Credit Agreement”);

          WHEREAS, Trico Subsea Holding AS, a Norwegian limited company and a Subsidiary Guarantor, has
(i) entered into an agreement to sell the Trico Sabre and the Trico Star, which are Mortgaged
Vessels under the Credit Agreement, to a single buyer for an aggregate price in cash of $52,300,000
(the “Purchase Price”) and (ii) if such agreement is cancelled, desires to sell such
Vessels to another buyer or buyers for a sale price that is not less than 95% of the Purchase Price
if sold en bloc or $25,000,000 per Vessel if sold individually (such transaction, the “Vessel
Sale”);

          WHEREAS, the Credit Parties have requested that the Required Lenders consent to the Vessel
Sale, as required by Section 10.02(b) of the Credit Agreement;

          WHEREAS, pursuant to Sections 5.02(b) and 10.02(b) of the Credit Agreement, the Credit Parties
are required to use the proceeds of the Vessel Sale to prepay the outstanding
Loans;

          WHEREAS, the Credit Parties have requested that the Required Lenders consent to the following
application of the net proceeds of the Vessel Sale: (i) $20,000,000 to be retained by the Credit
Parties for working capital purposes, to repay the loans under the Credit Agreement or the Working
Capital Credit Agreement or to redeem additional Senior Notes on the terms set out in clause
(ii)(b) below, and (ii) the remaining net proceeds to be used to pay pro rata in accordance with
the amounts of indebtedness outstanding thereunder between (a) loans and/or

 

 

cash collateralized letters of credit under the Working Capital Credit Agreement and (b) the
principal amount and accrued interest on the Senior Notes to be redeemed, without prepayment
premium, penalty or make whole (the “Application of Vessel Sale Proceeds”);

          WHEREAS, the Credit Parties desire to include certain fees and expenses owing under the
Working Capital Credit Agreement as Secured Obligations under the Credit Agreement;

          WHEREAS, the Lenders are willing to agree to this Consent on and subject to the terms and
conditions contained herein;

          NOW, THEREFORE, in consideration of the premises, the mutual covenants contained herein and
for other valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
Credit Parties and the Lenders party hereto hereby agree as follows:

ARTICLE I

AMENDMENT

          Section 1.1 Amendment to Section 1. Section 1 of the Credit Agreement is hereby
amended by deleting the definition of “Obligations” in its entirety and replacing it with the
following:

          ““Obligations” shall mean (i) all amounts owing to the Administrative Agent, the Collateral
Agent or any Lender pursuant to the terms of this Agreement or, to the extent related to the Loans,
any other Credit Document, and (ii) all amounts owing to the Administrative Agent (as defined in
the Working Capital Credit Agreement) or any Working Capital Lender (as defined in Section
14.01(b)) pursuant to the terms of Section 14.01(b).”

          Section 1.2 Amendment to Section 14.01. Section 14.01 of the Credit Agreement is
hereby amended by designating the existing provision as paragraph (a) thereof and adding the
following language as new paragraphs (b) and (c):

          “(b) In addition to the foregoing, the Borrower agrees to pay all reasonable out-of-pocket
costs and expenses of the Term Lenders (for the purposes of this Section 14.01 only, as defined in
the Working Capital Credit Agreement) and the Revolving Lenders (for the purposes of this Section
14.01 only, as defined in the Working Capital Credit Agreement and, together with the Term Lenders,
the “Working Capital Lenders”) (including, without limitation, the reasonable fees and
disbursements of Latham & Watkins LLP, White & Case LLP and the Working Capital Lenders’ local
maritime counsel and the Working Capital Lenders’ consultants), in each case, in connection with
the preparation, execution and delivery of this Agreement, the other Credit Documents, the Working
Capital Credit Agreement and the other Working Capital Credit Documents and the documents and
instruments referred to herein and therein and any amendment, waiver, assignment or consent
relating hereto or thereto and the Working Capital Lenders and in connection with the enforcement
of this Agreement, the other Credit Documents, the Working Capital Credit Agreement and the other
Working Capital Credit

- 2 -

 

Documents and the documents and instruments referred to herein and therein or in connection with
any refinancing or restructuring of the credit arrangements provided under this Agreement or the
Working Capital Credit Agreement in the nature of a “work-out” or pursuant to any insolvency or
bankruptcy proceedings (including, in each case without limitation, the reasonable fees and
disbursements of counsel and consultants for the Working Capital Lenders), provided, that
notwithstanding anything to the contrary herein or in any other Credit Document (including, without
limitation, the inclusion of the Borrower’s obligations under this Section 14.01(b) in the
definition of “Obligations”), (x) until the payment of all Obligations (other than Obligations
under this Section 14.01(b), subject to the terms of the Collateral Agency and Intercreditor
Agreement, the Working Capital Lenders shall not have any right under this Agreement to consent to
any release of, dilution of, or other change with respect to, the Collateral or any exercise of
remedies with respect to the Collateral or any change of any nature to the Obligations (other than
the obligations under this Section 14.01(b), (y) in the case of any sale of the Collateral, the
Lenders may not release any Lien on the Collateral as it relates to the Obligations unless all of
the proceeds of the sale of such Collateral are either (A) applied to pay the Obligations or (B)
subject to a first priority Lien securing the Obligations until such proceeds are otherwise
utilized with the consent of the Required Lenders, and (z) if the Liens on the Collateral are to be
released with respect to the Obligations pursuant to Section 3.1(a)(6) of the Collateral Agency and
Intercreditor Agreement, then prior to such release the Borrower shall (A) pay to the Term Lenders
a retainer for payment of professional fee obligations under this Section 14.01(b) in a reasonable
amount to be mutually agreed between the Term Lenders and the Borrower, and (B) pay to the
Revolving Lenders a retainer for payment of professional fee obligations under this Section
14.01(b) in a reasonable amount to be mutually agreed between the Revolving Lenders and the
Borrower. Any limitation on rights of the Working Capital Lenders contained in this Section
14.01(b) are applicable solely in their capacity as Working Capital Lenders and do not apply to any
rights they may have as Lenders under this Agreement. Solely for the purposes of this Section
14.01(b), the Working Capital Lenders and the Administrative Agent (as defined in the Working
Capital Credit Agreement) shall be third party beneficiaries of this Agreement.

          (c) Notwithstanding anything to the contrary herein or in any other Credit Document, if the
Liens on the Collateral are to be released with respect to the Obligations pursuant to Section
3.1(a)(6) of the Collateral Agency and Intercreditor Agreement, then prior to such release the
Borrower shall pay a retainer to the professionals for the noteholders under the Senior Notes
Indenture in a reasonable amount to be mutually agreed between the Required Lenders and the
Borrower.”

          Section 1.3 Amendment to Section 14.12(a). Section 14.12(a) of the Credit Agreement is
hereby amended by deleting the word “or” immediately prior to clause (w) at the end thereof and
replacing it with “,” and adding the following immediately prior to the period at the end of
Section 14.12(a):

“, (x) without the consent of the Term Lenders (as defined in the Working Capital Credit
Agreement), amend, modify or waive any provision (or any definitions related thereto) relating to
the rights of the Term Lenders to receive the amounts described in Section 14.01(b) or

- 3 -

 

(y) without the consent of the Revolving Lenders (as defined in the Working Capital Credit
Agreement), amend, modify or waive any provision (or any definitions related thereto) relating to
the rights of the Revolving Lenders to receive the amounts described in Section 14.01(b)”.

ARTICLE II

CONSENT

          Section 2.1 The undersigned Required Lenders hereby consent to (a) the Vessel Sale (provided,
that at the time of such Vessel Sale it is permitted under the Working Capital Credit Agreement and
the Senior Notes Indenture for the Senior Notes, and (b) the Application of Vessel Sale Proceeds;
provided, that to the extent permitted under the Working Capital Credit Agreement and the
Senior Notes Indenture after giving effect to this Consent, any proceeds retained by the Credit
Parties for working capital purposes pursuant to the Application of Vessel Sale Proceeds shall be
deposited in an account to be designated by the Required Lenders.

ARTICLE III

REAFFIRMATION

          Section 3.1 Each Credit Party hereby acknowledges and agrees that it expects to realize
substantial direct and indirect benefits as a result of the amendments and waivers contemplated by
this Consent.

          Section 3.2 Each Credit Party hereby acknowledges its receipt of this Consent and its review
of the terms and conditions thereof and consents to the terms and conditions of this Consent
contemplated hereby and thereby.

          Section 3.3 Each Credit Party, by executing and delivering a copy hereof, hereby (i) affirms
and confirms its guarantee, pledge, grant and other agreements under and pursuant to the applicable
Guaranty and Security Documents (including, without limitation, any such Security Documents
governed by the laws of New York, Brazil, Cayman, Island of Guernsey, Mexico, Netherlands, Norway,
Scotland, Bahamas, Isle of Man, Vanuatu and England and Wales) in accordance with the terms and
provisions thereof and (ii) agrees that, notwithstanding the effectiveness of this Consent, (x)
each such Guaranty and Security Document continues to be in full force and effect and (y) all
guarantees, pledges, grants and other agreements thereunder shall continue to be in full force and
effect without interruption to secure the Secured Obligations (including, for the avoidance of
doubt, the Loans made by the Lenders from and after the date hereof and all other obligations under
the Credit Documents as each such Credit Document may be amended on the date hereof and as it may
be further amended, restated, modified or supplemented from time to time), in each case, as such
agreements and other documents are being amended hereby or in connection herewith.

- 4 -

 

ARTICLE IV

MISCELLANEOUS PROVISIONS

          Section 4.1 In order to induce the Lenders to enter into this Consent, each of Holdings and
the Borrower hereby represents and warrants that (i) no Default or Event of Default exists as of
the Consent Effective Date after giving effect to this Consent and (ii) all of the representations
and warranties contained in the Credit Agreement (other than the representation contained in
Section 8.05(e) of the Credit Agreement) are true and correct in all material respects on the
Consent Effective Date both before and after giving effect to this Consent, with the same effect as
though such representations and warranties had been made on and as of the Consent Effective Date
(it being understood that any representation or warranty made as of a specific date shall be true
and correct in all material respects as of such specific date).

          Section 4.2 This Consent is limited as specified and shall not, except as expressly set forth
herein, constitute a modification, acceptance, consent to deviation from or waiver of any other
provision of the Credit Agreement or any other Credit Document.

          Section 4.3 This Consent may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, each of which counterparts when executed and delivered
shall be an original, but all of which shall together constitute one and the same instrument. A
complete set of counterparts shall be lodged with the Borrower and the Administrative Agent.
Delivery of an executed signature page to this Consent by facsimile transmission, as a .pdf
attachment or by other electronic means of transmission shall be as effective as delivery of a
manually signed counterpart of this Consent.

          Section 4.4 THIS CONSENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK AND SHALL BE SUBJECT
TO THE WAIVER OF JURY TRIAL AND NOTICE PROVISIONS IN THE CREDIT AGREEMENT.

          Section 4.5 This Consent shall become effective on the date (the “Consent Effective Date”)
that each of the following conditions precedent shall have occurred:

          (a) each Credit Party, the Required Lenders and the Administrative Agent have signed a
counterpart hereof (whether the same or different counterparts) and delivered the same (including
by way of facsimile or other electronic transmission) to Paul, Weiss, Rifkind, Wharton & Garrison
LLP, 1285 Avenue of the Americas, New York, NY 10019 Attention: Liza Montesano (facsimile number:
212-492-0304 / email: lmontesano@paulweiss.com);

          (b) the Borrower shall have obtained a valid consent, in form and substance acceptable to the
Required Lenders, to the Vessel Sale and the Application of Vessel Sale Proceeds from the lenders
under the Working Capital Credit Agreement pursuant to the Working Capital Credit Agreement, and
consent shall have become effective in accordance with its terms;

- 5 -

 

          (c) the Borrower shall have obtained a valid consent, in form and substance acceptable to the
Required Lenders, to the Vessel Sale and the Application of Vessel Sale Proceeds from the holders
of the Senior Notes pursuant to the Senior Notes Indenture, and such consent shall have become
effective in accordance with its terms;

          (d) the Borrower shall have paid or caused to be paid to the Administrative Agent and the
Lenders the costs, fees and expenses (including, without limitation, reasonable legal fees and
expenses of Paul, Weiss, Rifkind, Wharton & Garrison LLP) payable to the Administrative Agent and
the Lenders to the extent then due; and

          (e) the Approved Budget in effect on the Consent Effective Date shall provide for the payment
of the costs, fees and expenses referred to in Section 4.5(d) above.

          Section 4.6 Except for deliveries that are required pursuant to the Credit Agreement, each of
the parties hereto agree and acknowledge that notwithstanding anything to the contrary contained
herein, none of the Administrative Agent or the Borrower or any of its Subsidiaries shall have any
duty to disseminate any information or materials, or to solicit the participation, of any Lender
(or any affiliate (including funds under common management) thereof).

          Section 4.7 The Borrower and its Subsidiaries agree to indemnify and hold harmless the
Administrative Agent, the Lenders and their respective affiliates and each director, officer,
employee, representative and agent thereof (each, an “indemnified person”) from and against any and
all actions, suits, proceedings (including any investigations or inquiries), claims, losses,
damages, liabilities or expenses of any kind or nature whatsoever which may be incurred by or
asserted against or involve the Administrative Agent, the Lenders or any other such indemnified
person as a result of or arising out of or in any way related to or resulting from the matters
related to this Amendment or any of the other Credit Documents (collectively, the “indemnifiable
claims”) and, upon demand, to pay and reimburse the Administrative Agent, the Lenders and each
other indemnified person for any reasonable legal or other out-of-pocket expenses paid or incurred
in connection with investigating, defending or preparing to defend any such indemnifiable claim
(whether or not the Administrative Agent, the Lenders or any other such indemnified person is a
party to any action or proceeding out of which any such expenses arise). Notwithstanding the
foregoing, no indemnified party shall be entitled to seek any
indemnity for any indemnifiable claim arising from the gross negligence or willful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable decision) or
otherwise caused by action or inaction of such indemnified person.

          Section 4.8 From and after the Consent Effective Date, all references in the Credit Agreement
and each of the other Credit Documents to the Credit Agreement shall be deemed to be references to
the Credit Agreement as modified by this Consent.

*     *     *

- 6 -

 

          IN WITNESS WHEREOF, the parties hereto have caused their duly authorized
officers to execute and deliver this Consent as of the date first above written.

	 	 	 	 	 
	 	TRICO SHIPPING AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRICO SUPPLY AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEEPOCEAN SHIPPING III AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	DEEPOCEAN SHIPPING II AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEEPOCEAN SHIPPING AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEEPOCEAN AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRICO SUPPLY (UK) LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ALBYN MARINE LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CTC MARINE PROJECTS LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEEPOCEAN BRASIL SERVICOS LTDA.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	DEEPOCEAN MARITIME AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEEPOCEAN MANAGEMENT AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEEPOCEAN DE MEXICO S. DE R.L. DE C.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CTC MARINE NORWAY AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CTC MARINE PROJECTS (GUERNSEY)
LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEEPOCEAN SUBSEA SERVICES LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEEPOCEAN BV

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	DEEPOCEAN UK LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SERVICIOS PROFESIONALES DE APOYO

ESPECIALIZADO, S. DE R.L. DE C.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SERVICIOS DE SOPORTE PROFESIONAL

ADMINISTRATIVO, S. DE R.L. DE C.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRICO SUBSEA AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRICO SUBSEA HOLDING AS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	CANTOR FITZGERALD SECURITIES,

as Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	James Bond 	 
	 	 	Title:  	Chief Operating Officer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	FIDELITY ADVISOR SERIES II:

FIDELITY ADVISOR STRATEGIC

INCOME FUND,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	FIDELITY SUMMER STREET TRUST:

FIDELITY CAPITAL & INCOME FUND,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	FIDELITY SCHOOL STREET TRUST:

FIDELITY STRATEGIC INCOME FUND,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ILLINOIS MUNICIPAL RETIREMENT FUND,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	VARIABLE INSURANCE PRODUCTS

FUND V: STRATEGIC INCOME

PORTFOLIO,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	MUTUAL EUROPEAN FUND,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Bradley Takahashi 	 
	 	 	Title:  	Vice President

Franklin Mutual Advisers, LLC 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	FRANKLIN MUTUAL RECOVERY
FUND,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Bradley Takahashi 	 
	 	 	Title:  	Vice President

Franklin Mutual Advisers, LLC 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	THE ROYAL BANK OF SCOTLAND PLC

 	 
	 	By:  	RBS Securities Inc., its agent
as a Lender
 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Western Asset Management Company as

Investment Manager and Agent on behalf of:

Western Asset Floating Rate High Income

Fund LLC, as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Kim Nguyen 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Western Asset Management Company as

Investment Manager and Agent on behalf of:

John Hancock Fund II Floating Rate Income

Fund, as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Kim Nguyen 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	CCIF Loans Limited

 	 
	 	By:  	Goldman Sachs Asset Management,
L.P., its sub advisor
as a Lender
 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL INVESTMENT FUNDS,

ACTING SOLEY WITH RESPECT TO ITS

SERIES, ARTIO GLOBAL HIGH

INCOME FUND

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE ARTIO GLOBAL

HIGH INCOME GROUP TRUST FUND,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE ARTIO GLOBAL

HIGH INCOME FUND LLC,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE CALIFORNIA

STATE TEACHERS RETIREMENT

SYSTEM,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE GENERAL

RETIREMENT SYSTEM OF THE CITY

OF DETROIT, as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE CITY OF

PHILADELPHIA PUBLIC EMPLOYEES

RETIREMENT SYSTEM,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE CALIFORNIA

PUBLIC EMPLOYEES’ RETIREMENT

SYSTEM,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Oaktree Opps TS Investments Ltd.,

as a Lender

By: Oaktree Capital Management, L.P.

Its: Director

 	 
	 	By:  	 	 
	 	 	Name:  	Kenneth Liang 	 
	 	 	Title:  	Managing Director 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	Rajath Shourie 	 
	 	 	Title:  	Managing Director 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Goldman Sachs Palmetto State Credit Fund, L.P.,

as a Lender

By: Goldman Sachs Asset Management,

        L.P., its investment manager
 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Goldman Sachs Credit Strategies Fund,

as a Lender

By:       Goldman Sachs Asset Management,

       solely in its capacity as Investment

       Manager, and as Principal
 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Liberty Harbor Distressed Credit

Aggregator I, L.P., as a Lender

By: Liberty Harbor Distressed Credit

       Opportunities Advisors, LLC as

       General Partner

 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Goldman Sachs Corporate Credit Investment

Fund LLC, as a Lender

By: Goldman Sachs Asset Management,

        L.P., its investment manager

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Liberty Harbor Master Fund L LP.,

as a Lender

By: Goldman Sachs Asset Management,

        L.P., its investment manager

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Mariner LDC,

as a Lender

By: Mariner Investment Group,

       as Investment Advisor
 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	Richard Holahan 	 
	 	 	Title:  	Authorized Signatory 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Capital Partners, L.P.,

as a Lender

By: Mariner Investment Group,

       as Investment Advisor

 	 
	 	By:  	 	 
	 	 	Name:  	Richard Holahan 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Corporate Loan Fund LLC,

as a Lender

By: Mariner Investment Group LLC,

       as Investment Advisor

 	 
	 	By:  	 	 
	 	 	Name:  	Richard Holahan 	 
	 	 	Title:  	Authorized Signatory 	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Select Credit Master Fund, Ltd.,

as a Lender

By: Mariner Investment Group,

       as Investment Advisor

 	 
	 	By:  	 	 
	 	 	Name:  	Richard Holahan 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Alpha Long Credit Fund, L.P.,

as a Lender

By: Mariner Investment Group LLC,

       as Investment Advisor

 	 
	 	By:  	 	 
	 	 	Name:  	Richard Holahan 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Solitude Master Fund, L.P.,

as a Lender

By: Mariner Investment Group LLC,

       as Investment Advisor

 	 
	 	By:  	 	 
	 	 	Name:  	Richard Holahan 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	SPECTRUM ORIGINATION LLC,

as a Lender

 	 
	 	By:  	 	 
	 	 	Jeffrey A. Schaffer 	 
	 	 	Managing Member 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	DSTAR, LTD.,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Herbert E. Seif 	 
	 	 	Title:  	Managing Director,

Citigroup Alternative

Investments, LLC

Its Investment Adviser 	 

	 	 	 	 	 
	 	By:  	 	 
	 	 	Name:  	James Duplessie 	 
	 	 	Title:  	Managing Director,

Citigroup Alternative

Investments, LLC

Its Investment Adviser 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	CAI DISTRESSED DEBT OPPORTUNITY

MASTER FUND, LTD.,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	Herbert E. Seif 	 
	 	 	Title:  	Managing Director,

Citigroup Alternative

Investments, LLC

Its Investment Adviser 	 
	 

	 	 	 	 	 
	 	By:  	 	 
	 	 	Name:  	James Duplessie 	 
	 	 	Title:  	Managing Director,

Citigroup Alternative

Investments, LLC

Its Investment Adviser 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	SPECIAL VALUE CONTINUATION

PARTNERS, LP, as a Lender

TENNENBAUM OPPORTUNITIES

PARTNERS V, LP, as a Lender

TENNENBAUM DIP OPPORTUNITY

FUND, LLC, as a Lender

By: Tennenbaum Capital Partners, LLC,

        Investment Manager of each of the

        above companies
 	 

	 	 	 	 	 
	 	By:  	 	 
	 	 	Name:  	David Hollander 	 
	 	 	Title:  	Partner 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

Exhibit C

Defaults

1. The Borrower’s failure to deliver the Quarterly Financial Statements for the fiscal quarter
ending September 30, 2010 pursuant to Section 9.01(a) of the Credit Agreement.

2. The Borrower’s failure to comply with the Minimum Cash covenant for the months ending on
October 31, 2010 and November 30, 2010 pursuant to Section 10.13 of the Credit Agreement.

3. The Borrower’s failure to comply with the Minimum Monthly EBITDA covenant for the months ending
on September 30, 2010, October 31, 2010 and November 30, 2010 pursuant to Section 10.14 of the
Credit Agreement.

4. The occurrence of a Forbearance Termination Date pursuant to Section 11.13 of the Credit
Agreement.

5. The Borrower’s failure to draw on the Total Tranche B Term Loan Commitments (as defined under
the Priority Credit Agreement) in the amount of $7,000,000 under the Priority Credit Facility by
October 31, 2010.

6. Cross-defaults to the Parent Credit Agreement pursuant to Section 11.11 of the Credit
Agreement.

7. The Borrower’s defaults and events of default as specified and waived under the Amendment to the
Priority Credit Agreement pursuant to Section 11.04 of the Credit Agreement.

8. The Borrower’s defaults and events of default as specified and waived under the Note
Forbearance Agreement pursuant to Section 11.04 of the Credit Agreement.exv10w2

Exhibit 10.2

EXECUTION COPY

FIFTH AMENDMENT AND CONSENT TO PRIORITY CREDIT AGREEMENT

          THIS FIFTH AMENDMENT AND CONSENT TO PRIORITY CREDIT AGREEMENT (this “Consent”), dated
as of December 16, 2010, by and among TRICO SUPPLY AS, a limited company organized under the laws
of Norway (“Holdings”), the Subsidiary Guarantors listed on Schedule IX to the
Credit Agreement (as defined below) (the “Subsidiary Guarantors”), TRICO SHIPPING AS, a
limited company organized under the laws of Norway and a wholly-owned Subsidiary of Holdings (the
“Borrower”), the Lenders (as defined below) party hereto, and CANTOR FITZGERALD SECURITIES
(“Cantor”), as Administrative Agent (in such capacity, the “Administrative Agent”). Unless
otherwise indicated, all capitalized terms used herein and not otherwise defined herein shall have
the respective meanings provided such terms in the Credit Agreement referred to below.

W I T N E S S E T H:

          WHEREAS, the Borrower, Holdings, the Subsidiary Guarantors, the lenders from time to time
party thereto (each, a “Lender” and, collectively, the “Lenders”) and the
Administrative Agent are parties to a Priority Credit Agreement, dated as of September 21, 2010 (as
amended by the First Amendment to Priority Credit Agreement, dated as of October 1, 2010, the
Second Amendment to Priority Credit Agreement, dated as of October 15, 2010, and the Third
Amendment, Consent and Waiver to Priority Credit Agreement, dated as of November 12, 2010, and the
Fourth Amendment and Waiver to Priority Credit Agreement, dated as of December 3, 2010, the
“Credit Agreement”);

          WHEREAS, Trico Subsea Holding AS, a Norwegian limited company and a Subsidiary Guarantor, has
(i) entered into an agreement to sell the Trico Sabre and the Trico Star, which are Mortgaged
Vessels under the Credit Agreement, to a single buyer for an aggregate price in cash of $52,300,000
(the “Purchase Price”) and (ii) if such agreement is cancelled, desires to sell such
Vessels to another buyer or buyers for a sale price that is not less than 95% of the Purchase Price
if sold en bloc or $25,000,000 per Vessel if sold individually (such transaction, the “Vessel
Sale”);

          WHEREAS, the Credit Parties have requested that the Required Lenders consent to the Vessel
Sale, as required by Section 10.02(b) of the Credit Agreement;

          WHEREAS, pursuant to Sections 5.02(b) and 10.02(b) of the Credit Agreement, the Credit Parties
are required to use the proceeds of the Vessel Sale to prepay the outstanding Loans;

          WHEREAS, the Credit Parties have requested that the Required Lenders consent to the following
application of the net proceeds of the Vessel Sale: (i) $20,000,000 to be retained by the Credit
Parties for working capital purposes, to repay the loans under the Credit Agreement or the Working
Capital Credit Agreement or to redeem additional Senior Notes on the terms set out in clause
(ii)(b) below, and (ii) the remaining net proceeds to be used to pay pro rata in accordance with
the amounts of indebtedness outstanding thereunder between (a) loans and/or

 

 

cash collateralized letters of credit under the Working Capital Credit Agreement and (b) the
principal amount and accrued interest on the Senior Notes to be redeemed, without prepayment
premium, penalty or make whole (the “Application of Vessel Sale Proceeds”);

          WHEREAS, the Credit Parties desire to include certain fees and expenses owing under the
Working Capital Credit Agreement as Secured Obligations under the Credit Agreement;

          WHEREAS, the Lenders are willing to agree to this Consent on and subject to the terms and
conditions contained herein;

          NOW, THEREFORE, in consideration of the premises, the mutual covenants contained herein and
for other valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
Credit Parties and the Lenders party hereto hereby agree as follows:

ARTICLE I

AMENDMENT

          Section 1.1 Amendment to Section 1. Section 1 of the Credit Agreement is hereby
amended by deleting the definition of “Obligations” in its entirety and replacing it with the
following:

          ““Obligations” shall mean (i) all amounts owing to the Administrative Agent, the
Collateral Agent or any Lender pursuant to the terms of this Agreement or, to the extent related to
the Loans, any other Credit Document, and (ii) all amounts owing to the Administrative Agent (as
defined in the Working Capital Credit Agreement) or any Working Capital Lender (as defined in
Section 14.01(b)) pursuant to the terms of Section 14.01(b).”

          Section 1.2 Amendment to Section 14.01. Section 14.01 of the Credit Agreement is
hereby amended by designating the existing provision as paragraph (a) thereof and adding the
following language as new paragraphs (b) and (c):

          “(b) In addition to the foregoing, the Borrower agrees to pay all reasonable out-of-pocket
costs and expenses of the Term Lenders (for the purposes of this Section 14.01 only, as defined in
the Working Capital Credit Agreement) and the Revolving Lenders (for the purposes of this Section
14.01 only, as defined in the Working Capital Credit Agreement and, together with the Term Lenders,
the “Working Capital Lenders”) (including, without limitation, the reasonable fees and
disbursements of Latham & Watkins LLP, White & Case LLP and the Working Capital Lenders’ local
maritime counsel and the Working Capital Lenders’ consultants), in each case, in connection with
the preparation, execution and delivery of this Agreement, the other Credit Documents, the Working
Capital Credit Agreement and the other Working Capital Credit Documents and the documents and
instruments referred to herein and therein and any amendment, waiver, assignment or consent
relating hereto or thereto and the Working Capital Lenders and in connection with the enforcement
of this Agreement, the other Credit Documents, the Working Capital Credit Agreement and the other
Working Capital Credit

- 2 -

 

Documents and the documents and instruments referred to herein and therein or in connection with
any refinancing or restructuring of the credit arrangements provided under this Agreement or the
Working Capital Credit Agreement in the nature of a “work-out” or pursuant to any insolvency or
bankruptcy proceedings (including, in each case without limitation, the reasonable fees and
disbursements of counsel and consultants for the Working Capital
Lenders), provided, that notwithstanding anything to the contrary herein or in any other Credit Document (including, without
limitation, the inclusion of the Borrower’s obligations under this Section 14.01(b) in the
definition of “Obligations”), (x) until the payment of all Obligations (other than Obligations
under this Section 14.01(b), subject to the terms of the Collateral Agency and Intercreditor
Agreement, the Working Capital Lenders shall not have any right under this Agreement to consent to
any release of, dilution of, or other change with respect to, the Collateral or any exercise of
remedies with respect to the Collateral or any change of any nature to the Obligations (other than
the obligations under this Section 14.01(b), (y) in the case of any sale of the Collateral, the
Lenders may not release any Lien on the Collateral as it relates to the Obligations unless all of
the proceeds of the sale of such Collateral are either (A) applied to pay the Obligations or (B)
subject to a first priority Lien securing the Obligations until such proceeds are otherwise
utilized with the consent of the Required Lenders, and (z) if the Liens on the Collateral are to be
released with respect to the Obligations pursuant to Section 3.1(a)(6) of the Collateral Agency and
Intercreditor Agreement, then prior to such release the Borrower shall (A) pay to the Term Lenders
a retainer for payment of professional fee obligations under this Section 14.01(b) in a reasonable
amount to be mutually agreed between the Term Lenders and the Borrower, and (B) pay to the
Revolving Lenders a retainer for payment of professional fee obligations under this Section
14.01(b) in a reasonable amount to be mutually agreed between the Revolving Lenders and the
Borrower. Any limitation on rights of the Working Capital Lenders contained in this Section
14.01(b) are applicable solely in their capacity as Working Capital Lenders and do not apply to any
rights they may have as Lenders under this Agreement. Solely for the purposes of this Section
14.01(b), the Working Capital Lenders and the Administrative Agent (as defined in the Working
Capital Credit Agreement) shall be third party beneficiaries of this Agreement.

          (c) Notwithstanding anything to the contrary herein or in any other Credit Document, if the
Liens on the Collateral are to be released with respect to the Obligations pursuant to Section
3.1(a)(6) of the Collateral Agency and Intercreditor Agreement, then prior to such release the
Borrower shall pay a retainer to the professionals for the noteholders under the Senior Notes
Indenture in a reasonable amount to be mutually agreed between the Required Lenders and the
Borrower.”

          Section 1.3 Amendment to Section 14.12(a). Section 14.12(a) of the Credit Agreement is
hereby amended by deleting the word “or” immediately prior to clause (w) at the end thereof and
replacing it with “,” and adding the following immediately prior to the period at the end of
Section 14.12(a):

“, (x) without the consent of the Term Lenders (as defined in the Working Capital Credit
Agreement), amend, modify or waive any provision (or any definitions related thereto) relating to
the rights of the Term Lenders to receive the amounts described in Section 14.01(b) or

- 3 -

 

(y) without the consent of the Revolving Lenders (as defined in the Working Capital Credit
Agreement), amend, modify or waive any provision (or any definitions related thereto) relating to
the rights of the Revolving Lenders to receive the amounts described in Section 14.01(b)”.

ARTICLE II

CONSENT

          Section 2.1
The undersigned Required Lenders hereby consent to (a) the
Vessel Sale (provided,
that at the time of such Vessel Sale it is permitted under the Working Capital Credit Agreement and
the Senior Notes Indenture for the Senior Notes, and (b) the Application of Vessel Sale Proceeds;
provided, that to the extent permitted under the Working Capital Credit Agreement and the Senior
Notes Indenture after giving effect to this Consent, any proceeds retained by the Credit Parties
for working capital purposes pursuant to the Application of Vessel Sale Proceeds shall be deposited
in an account to be designated by the Required Lenders.

ARTICLE III

REAFFIRMATION

          Section 3.1 Each Credit Party hereby acknowledges and agrees that it expects to realize
substantial direct and indirect benefits as a result of the amendments and waivers contemplated by
this Consent.

          Section 3.2 Each Credit Party hereby acknowledges its receipt of this Consent and its review
of the terms and conditions thereof and consents to the terms and conditions of this Consent
contemplated hereby and thereby.

          Section 3.3 Each Credit Party, by executing and delivering a copy hereof, hereby (i) affirms
and confirms its guarantee, pledge, grant and other agreements under and pursuant to the applicable
Guaranty and Security Documents (including, without limitation, any such Security Documents
governed by the laws of New York, Brazil, Cayman, Island of Guernsey, Mexico, Netherlands, Norway,
Scotland, Bahamas, Isle of Man, Vanuatu and England and Wales) in accordance with the terms and
provisions thereof and (ii) agrees that, notwithstanding the effectiveness of this Consent, (x)
each such Guaranty and Security Document continues to be in full force and effect and (y) all
guarantees, pledges, grants and other agreements thereunder shall continue to be in full force and
effect without interruption to secure the Secured Obligations (including, for the avoidance of
doubt, the Loans made by the Lenders from and after the date hereof and all other obligations under
the Credit Documents as each such Credit Document may be amended on the date hereof and as it may
be further amended, restated, modified or supplemented from time to time), in each case, as such
agreements and other documents are being amended hereby or in connection herewith.

- 4 -

 

ARTICLE IV

MISCELLANEOUS PROVISIONS

          Section 4.1 In order to induce the Lenders to enter into this Consent, each of Holdings and
the Borrower hereby represents and warrants that (i) no Default or Event of Default exists as of
the Consent Effective Date after giving effect to this Consent and (ii) all of the representations
and warranties contained in the Credit Agreement (other than the representation contained in
Section 8.05(e) of the Credit Agreement) are true and correct in all material respects on the
Consent Effective Date both before and after giving effect to this Consent, with the same effect as
though such representations and warranties had been made on and as of the Consent Effective Date
(it being understood that any representation or warranty made as of a specific date shall be true
and correct in all material respects as of such specific date).

          Section 4.2 This Consent is limited as specified and shall not, except as expressly set forth
herein, constitute a modification, acceptance, consent to deviation from or waiver of any other
provision of the Credit Agreement or any other Credit Document.

          Section 4.3 This Consent may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, each of which counterparts when executed and delivered
shall be an original, but all of which shall together constitute one and the same instrument. A
complete set of counterparts shall be lodged with the Borrower and the Administrative Agent.
Delivery of an executed signature page to this Consent by facsimile transmission, as a .pdf
attachment or by other electronic means of transmission shall be as effective as delivery of a
manually signed counterpart of this Consent.

          Section 4.4 THIS CONSENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK AND SHALL BE SUBJECT
TO THE WAIVER OF JURY TRIAL AND NOTICE PROVISIONS IN THE CREDIT AGREEMENT.

          Section 4.5
This Consent shall become effective on the date (the “Consent
Effective Date”)
that each of the following conditions precedent shall have occurred:

          (a) each Credit Party, the Required Lenders and the Administrative Agent have signed a
counterpart hereof (whether the same or different counterparts) and delivered the same (including
by way of facsimile or other electronic transmission) to Paul, Weiss, Rifkind, Wharton & Garrison
LLP, 1285 Avenue of the Americas, New York, NY 10019 Attention: Liza Montesano (facsimile number:
212-492-0304 / email: lmontesano@paulweiss.com);

          (b) the Borrower shall have obtained a valid consent, in form and substance acceptable to the
Required Lenders, to the Vessel Sale and the Application of Vessel Sale Proceeds from the lenders
under the Working Capital Credit Agreement pursuant to the Working Capital Credit Agreement, and
consent shall have become effective in accordance with its terms;

- 5 -

 

          (c) the Borrower shall have obtained a valid consent, in form and substance acceptable to the
Required Lenders, to the Vessel Sale and the Application of Vessel Sale Proceeds from the holders
of the Senior Notes pursuant to the Senior Notes Indenture, and such consent shall have become
effective in accordance with its terms;

          (d) the Borrower shall have paid or caused to be paid to the Administrative Agent and the
Lenders the costs, fees and expenses (including, without limitation, reasonable legal fees and
expenses of Paul, Weiss, Rifkind, Wharton & Garrison LLP) payable to the Administrative Agent and
the Lenders to the extent then due; and

          (e) the Approved Budget in effect on the Consent Effective Date shall provide for the payment
of the costs, fees and expenses referred to in Section 4.5(d) above.

          Section 4.6 Except for deliveries that are required pursuant to the Credit Agreement, each of
the parties hereto agree and acknowledge that notwithstanding anything to the contrary contained
herein, none of the Administrative Agent or the Borrower or any of its Subsidiaries shall have any
duty to disseminate any information or materials, or to solicit the participation, of any Lender
(or any affiliate (including funds under common management) thereof).

          Section 4.7 The Borrower and its Subsidiaries agree to indemnify and hold harmless the
Administrative Agent, the Lenders and their respective affiliates and each director, officer,
employee, representative and agent thereof (each, an “indemnified person”) from and against any and
all actions, suits, proceedings (including any investigations or inquiries), claims, losses,
damages, liabilities or expenses of any kind or nature whatsoever which may be incurred by or
asserted against or involve the Administrative Agent, the Lenders or any other such indemnified
person as a result of or arising out of or in any way related to or resulting from the matters
related to this Amendment or any of the other Credit Documents (collectively, the “indemnifiable
claims”) and, upon demand, to pay and reimburse the Administrative Agent, the Lenders and each
other indemnified person for any reasonable legal or other out-of-pocket expenses paid or incurred
in connection with investigating, defending or preparing to defend any such indemnifiable claim
(whether or not the Administrative Agent, the Lenders or any other such indemnified person is a
party to any action or proceeding out of which any such expenses arise). Notwithstanding the
foregoing, no indemnified party shall be entitled to seek any indemnity for any indemnifiable claim
arising from the gross negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final and non-appealable decision) or otherwise caused by action or inaction of
such indemnified person.

          Section 4.8 From and after the Consent Effective Date, all references in the Credit Agreement
and each of the other Credit Documents to the Credit Agreement shall be deemed to be references to
the Credit Agreement as modified by this Consent.

*     *     *

- 6 -

 

          IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and
deliver this Consent as of the date first above written.

	 	 	 	 	 
	 	TRICO SHIPPING AS

 	 
	 	By:  	/s/ Gerald Alistair Gray	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	TRICO SUPPLY AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	DEEPOCEAN SHIPPING III AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	DEEPOCEAN SHIPPING II AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	DEEPOCEAN SHIPPING AS

 	 
	 	By:  	/s/ Gerald Alistair Gray 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	DEEPOCEAN AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	TRICO SUPPLY (UK) LIMITED

 	 
	 	By:  	/s/ Gerald Alistair Gray 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	ALBYN MARINE LIMITED

 	 
	 	By:  	/s/ Gerald Alistair Gray 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	CTC MARINE PROJECTS LIMITED

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Director 	 
	 
	 	DEEPOCEAN BRASIL SERVICOS LTDA.

 	 
	 	By:  	/s/ Tomás Salazar 	 
	 	 	Name:  	Tomás Salazar 	 
	 	 	Title:  	Manager 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	DEEPOCEAN MARITIME AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	DEEPOCEAN MANAGEMENT AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	DEEPOCEAN DE MEXICO, S. DE R.L. DE C.V.

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Manager 	 
	 
	 	CTC MARINE NORWAY AS

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	CTC MARINE PROJECTS (GUERNSEY)

LIMITED

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Director 	 
	 
	 	DEEPOCEAN SUBSEA SERVICES LIMITED

 	 
	 	By:  	/s/ Gerald Alistair Gray	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	DEEPOCEAN B.V.

 	 
	 	By:  	/s/ Mads Ragnar Bårdsen	 
	 	 	Name:  	Mads Ragnar Bårdsen 	 
	 	 	Title:  	Director 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	DEEPOCEAN UK LTD.

 	 
	 	By:  	/s/ Gerald Alistair Gray
 	 
	 	 	Name:  	Gerald Alistair Gray 	 
	 	 	Title:  	Managing Director 	 
	 
	 	SERVICIOS PROFESIONALES DE APOYO

ESPECIALIZADO, S. DE R.L. DE C.V.

 	 
	 	By:  	/s/ Geoff Jones	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Manager 	 
	 
	 	SERVICIOS DE SOPORTE PROFESIONAL

ADMINISTRATIVO, S. DE R.L. DE C.V.

 	 
	 	By:  	/s/ Geoff Jones	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Manager 	 
	 
	 	TRICO SUBSEA AS

 	 
	 	By:  	/s/ Geoff Jones	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 
	 	TRICO SUBSEA HOLDING AS

 	 
	 	By:  	/s/ Geoff Jones	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	Chairman 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	FRANKLIN MUTUAL RECOVERY FUND,

as a Lender

 	 
	 	By:  	/s/ Bradley Takahashi
 	 
	 	 	Name:  	Bradley Takahashi 	 
	 	 	Title:  	Vice President

Franklin Mutual Advisers, LLC 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	MUTUAL EUROPEAN FUND,

as a Lender

 	 
	 	By:  	/s/ Bradley Takahashi
 	 
	 	 	Name:  	Bradley Takahashi 	 
	 	 	Title:  	Vice President

Franklin Mutual Advisers, LLC 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Mariner LDC,

as a Lender

 	 
	 	By:  	Mariner Investment Group,
 	 
	 	 	as Investment Advisor 	 
	 	 	 	 
	 	By:  	/s/ Charles R. Howe, II
 	 
	 	 	Name:  	Charles R. Howe, II 	 
	 	 	Title:  	President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Capital Partners, L.P.,

as a Lender

 	 
	 	By:  	Mariner Investment Group,
 	 
	 	 	as Investment Advisor 	 
	 	 	 
	 	By:  	/s/ Charles R. Howe, II
 	 
	 	 	Name:  	Charles R. Howe, II 	 
	 	 	Title:  	President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Corporate Loan Fund LLC,

as a Lender

 	 
	 	By:  	Mariner Investment Group LLC,
 	 
	 	 	as Investment Advisor 	 
	 	 	 
	 	By:  	/s/ Charles R. Howe, II
 	 
	 	 	Name:  	Charles R. Howe, II 	 
	 	 	Title:  	President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Select Credit Master Fund, Ltd.,

as a Lender

 	 
	 	By:  	Mariner Investment Group,
 	 
	 	 	as Investment Advisor 	 
	 	 	 
	 	By:  	/s/ Charles R. Howe, II
 	 
	 	 	Name:  	Charles R. Howe, II 	 
	 	 	Title:  	President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Alpha Long Credit Fund, L.P.,

as a Lender

 	 
	 	By:  	Mariner Investment Group LLC,
 	 
	 	 	as Investment Advisor 	 
	 	 	 
	 	By:  	/s/ Charles R. Howe, II
 	 
	 	 	Name:  	Charles R. Howe, II 	 
	 	 	Title:  	President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Caspian Solitude Master Fund, L.P.,

as a Lender

 	 
	 	By:  	Mariner Investment Group LLC,
 	 
	 	 	as Investment Advisor 	 
	 	 	 
	 	By:  	/s/ Charles R. Howe, II
 	 
	 	 	Name:  	Charles R. Howe, II 	 
	 	 	Title:  	President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Oaktree Opps TS Investments Ltd.,

as a Lender

 	 
	 	By:  	Oaktree Capital Management, L.P.
 	 
	 	 Its: 	Director 	 
	 	 	 
	 	By:  	/s/ Kenneth Liang
 	 
	 	 	Name:  	Kenneth Liang 	 
	 	 	Title:  	Managing Director 	 
	 	 	 
	 	By:  	/s/ Jennifer Box
 	 
	 	 	Name:  	Jennifer Box 	 
	 	 	Title:  	Vice President	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Western Asset Management Company as

Investment Manager and Agent on behalf of:

Western Asset Floating Rate High Income

Fund LLC as a Lender

 	 
	 	By:  	/s/ W. Stephen Venable, Jr.
 	 
	 	 	Name: 	W. Stephen Venable, Jr. 	 
	 	 	Title:	Attorney 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	Western Asset Management Company as

Investment Manager and Agent on behalf of:

John Hancock Fund II Floating Rate Income

Fund, as a Lender

 	 
	 	By:  	/s/ W. Stephen Venable, Jr.
 	 
	 	 	Name: 	W. Stephen Venable, Jr. 	 
	 	 	Title:	Attorney 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	FIDELITY ADVISOR SERIES II:

FIDELITY ADVISOR STRATEGIC

INCOME FUND,

as a Lender

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	FIDELITY SUMMER STREET TRUST:

FIDELITY CAPITAL & INCOME FUND,

as a Lender

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	FIDELITY SCHOOL STREET TRUST:

FIDELITY STRATEGIC NCOME FUND,

as a Lender

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	VARIABLE INSURANCE PRODUCTS

FUND V: STRATEGIC INCOME PORTFOLIO,

as a Lender

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ILLINOIS MUNICIPAL RETIREMENT FUND,

as a Lender

 	 
	 	By  	Pyramis Global Advisors Trust Company, As Investment Manager, Under Power of Attorney
 	 
	 	 	 
	 	By:  	/s/
David Censorio	 
	 	 	Name:  	David Censorio	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	SPECIAL VALUE CONTINUATION PARTNERS, LP, as a Lender

TENNENBAUM OPPORTUNITIES PARTNERS V, LP, as a Lender

TENNENBAUM DIP OPPORTUNITY FUND, LLC, as a Lender

 	 
	 	By:  	Tennenbaum Capital Partners, LLC,
 	 
	 	 	Investment Manager of each of the above companies 	 
	 	 	 	 
	 	 	 
	 	By:  	/s/ Howard Levkowitz
 	 
	 	 	Name:  	Howard Levkowitz 	 
	 	 	Title:  	Managing Partner 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	CANTOR FITZGERALD SECURITIES,

as Administrative Agent

 	 
	 	By:  	/s/ James Bond
 	 
	 	 	Name:  	James Bond 	 
	 	 	Title:  	Chief Operating Officer 	 
	 

[Signature Page to Trico — Fifth Amendment and Consent to Priority Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE CALIFORNIA

PUBLIC EMPLOYEES’ RETIREMENT SYSTEM,

as a Lender

 	 
	 	By:  	/s/ Victor J. Simon
 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC, ON
BEHALF OF THE CITY OF PHILADELPHIA PUBLIC EMPLOYEES RETIREMENT SYSTEM,
as a Lender

 	 
	 	By:  	/s/ Victor J. Simon
 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC, ON BEHALF OF THE GENERAL
RETIREMENT SYSTEM OF THE CITY OF DETROIT, as a Lender

 	 
	 	By:  	/s/ Victor J. Simon
 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE CALIFORNIA

STATE TEACHERS RETIREMENT

SYSTEM,
as a Lender 

 	 
	 	By:  	/s/ Victor J. Simon
 	 
	 	 	Name:  	Victor J. Simon             	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE ARTIO GLOBAL 

HIGH INCOME FUND LLC, 

as a Lender

 	 
	 	By:  	/s/ Victor J. Simon
 	 
	 	 	Name:  	Victor J. Simon 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL MANAGEMENT LLC,

ON BEHALF OF THE ARTIO GLOBAL

HIGH INCOME GROUP TRUST FUND, 

as a Lender 

 	 
	 	By:  	/s/ Victor J. Simon
 	 
	 	 	Name:  	Victor J. Simon        	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

 

 

	 	 	 	 	 
	 	ARTIO GLOBAL INVESTMENT FUNDS,

ACTING SOLEY WITH RESPECT TO ITS

SERIES, ARTIO GLOBAL HIGH

INCOME FUND

as a Lender 

 	 
	 	By:  	/s/ Victor J. Simon
 	 
	 	 	Name:  	Victor J. Simon       	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Consent to Credit Agreement]

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