Document:

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                                                                    EXHIBIT 4.13

                                                                  EXECUTION COPY

                                    GUARANTY
                                       FOR
                             CMS ENTERPRISES COMPANY

           THIS GUARANTY, dated as of July 12, 2002, is made by CMS Energy
Corporation, a Michigan corporation, CMS Gas Transmission Company, a Michigan
corporation, and CMS Generation Co., a Michigan corporation (each individually a
"GUARANTOR" and collectively, together with any additional Subsidiaries of the
Borrower that become a party to this Guaranty by executing a supplement hereto
in the form attached hereto as Annex I, the "GUARANTORS"), in favor of the
Lenders (the "LENDERS") parties to the Credit Agreement (as defined below) and
Citicorp USA, Inc. ("CUSA"), as Administrative Agent (the "ADMINISTRATIVE
AGENT") and as Collateral Agent (the "COLLATERAL AGENT") for the Lenders.

                             PRELIMINARY STATEMENTS

           (1) The Administrative Agent, the Collateral Agent and the Lenders
have entered into a Credit Agreement, dated as of July 12, 2002, maturing
December 13, 2002 (as it may hereafter be amended or otherwise modified from
time to time, the "CREDIT AGREEMENT", the terms defined therein and not
otherwise defined herein being used herein as therein defined), with CMS
Enterprises Company, a corporation organized and existing under the laws of the
State of Michigan (the "BORROWER"). The Guarantors will derive substantial
direct and indirect benefit from the transactions contemplated by the Credit
Agreement.

           (2) It is a condition precedent to the effectiveness of the Credit
Agreement that the Guarantors shall have executed and delivered this Guaranty.

           NOW, THEREFORE, in consideration of the premises and in order to
induce the Lenders to make Extensions of Credit under the Credit Agreement, the
Guarantors hereby agrees as follows:

           SECTION 1. Guaranty. Each of the Guarantors hereby unconditionally
guarantees, jointly with the other Guarantors and severally, the punctual
payment when due, whether at stated maturity, by acceleration or otherwise, of
all obligations of the Borrower now or hereafter existing under the Credit
Agreement and the Promissory Notes, whether for principal, interest, fees,
expenses or otherwise (such obligations being the "OBLIGATIONS"), and agrees to
pay any and all expenses (including reasonable fees and expenses of counsel)
incurred by the

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Agents or the Lenders in enforcing any rights under this Guaranty. Without
limiting the generality of the foregoing, the Guarantor's liability shall extend
to all amounts which constitute part of the Obligations and would be owed by the
Borrower to the Collateral Agent or the Lenders under the Credit Agreement and
the Promissory Notes but for the fact that they are unenforceable or not
allowable due to the existence of a bankruptcy, reorganization or similar
proceeding involving the Borrower.

            SECTION 2. Guaranty Absolute. Each of the Guarantors guarantee,
jointly with the other Guarantors and severally, that the Obligations will be
paid strictly in accordance with the terms of the Credit Agreement and the
Promissory Notes, regardless of any law, regulation or order now or hereafter in
effect in any jurisdiction affecting any of such terms or the rights of the
Collateral Agent or the Lenders with respect thereto against the Borrower. The
obligations of the Guarantors under this Guaranty are independent of the
Obligations, and a separate action or actions may be brought and prosecuted
against any or all of the Guarantors to enforce this Guaranty, irrespective of
whether any action is brought against the Borrower or whether the Borrower is
joined in any such action or actions. The liability of each of the Guarantors
under this Guaranty shall be absolute and unconditional irrespective of:

             (a) any lack of validity or enforceability of the Credit Agreement,
the Promissory Notes, any other Loan Document, or any other agreement or
instrument relating thereto;

             (b) any change in the time, manner or place of payment of, or in
any other term of, all or any of the Obligations, or any other amendment or
waiver of or any consent to departure from the Credit Agreement, the Promissory
Notes, or any other Loan Document, including, without limitation, any increase
in the Obligations resulting from the extension of additional credit to the
Borrower or any of its Subsidiaries or otherwise;

             (c) any taking, exchange, release or non-perfection of any
collateral, or any taking, release or amendment or waiver of or consent to
departure from any other guaranty, for all or any of the Obligations;

             (d) the existence of any claim, set-off, defense or other right
which any of the Guarantors may have at any time against the Collateral Agent,
any Lender or any other Person, whether in connection with this Guaranty, the
transactions contemplated in any of the other Loan Documents, or any unrelated
transaction;

             (e) any manner of application of collateral, or proceeds thereof,
to all or any of the Obligations, or any manner of sale or other disposition of
any

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collateral for all or any of the Obligations or any other assets of the Borrower
or any of its Subsidiaries;

           (f) any change, restructuring or termination of the corporate
structure or existence of the Borrower or any of its Subsidiaries; or

           (g) any other circumstance which might otherwise constitute a defense
available to, or a discharge of, the Borrower or a guarantor.

This Guaranty shall continue to be effective or be reinstated, as the case may
be, if at any time any payment of any of the Obligations is rescinded or must
otherwise be returned by the Collateral Agent or any Lender upon the insolvency,
bankruptcy or reorganization of the Borrower or otherwise, all as though such
payment had not been made.

           SECTION 3. Rights of Contribution with Respect to Obligations.

           (a) To the extent that any payment is made on the Obligations by or
on behalf of any Guarantor or Grantor (each, an "Obligor") under or pursuant to
this Guaranty or the Pledge Agreement (an "Obligor Payment") which, taking into
account all other Obligor Payments then previously or concurrently made by any
other Obligor, exceeds the amount which otherwise would have been paid by or
attributable to such Obligor if each Obligor had paid the aggregate Obligations
satisfied by such Obligor Payment in the same proportion as such Obligor's
"Allocable Amount" (as defined below) (as determined immediately prior to such
Obligor Payment) bore to the aggregate Allocable Amounts of each of the Obligors
as determined immediately prior to the making of such Obligor Payment, then,
following payment in full in cash of the Obligations and the termination or
expiration of all Commitments, such Obligor shall be entitled to receive
contribution and indemnification payments from, and be reimbursed by, each other
Obligor for the amount of such excess, pro rata based upon their respective
Allocable Amounts in effect immediately prior to such Obligor Payment.

           (b) As of any date of determination, the "Allocable Amount" of any
Obligor shall be equal to the maximum amount of the claim which could then be
recovered from such Obligor with respect to the Obligations without rendering
such claim voidable or avoidable under Section 548 of Chapter 11 of the
Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act,
Uniform Fraudulent Conveyance Act or similar statute or common law.

           (c) This Section 3 is intended only to define the relative rights of
the Obligors, and nothing set forth in this Section 3 is intended to or shall
impair the obligations of the Obligors to pay any amounts as and when the same
shall

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become due and payable in accordance with the terms of this Guaranty or the
Pledge Agreement.

           (d) The parties hereto acknowledge that the rights of contribution
and indemnification hereunder shall constitute assets of the Guarantors and the
other Obligors to which such contribution and indemnification is owing.

           (e) The rights of the indemnifying Obligors against other Obligors
with respect to any payments on the Obligations shall be exercisable upon the
full payment of the Obligations in cash and the termination or expiry of the
Commitments.

           SECTION 4. Waiver. Each of the Guarantors hereby waives promptness,
diligence, notice of acceptance and any other notice with respect to any of the
Obligations and this Guaranty and any requirement that the Collateral Agent or
any Lender protect, secure, perfect or insure any security interest or lien or
any property subject thereto or exhaust any right or take any action against the
Borrower or any other Person or any collateral.

           SECTION 5. Subrogation; Subordination of Intercompany Indebtedness.

           (a) Subrogation. Notwithstanding any payment or payments made by any
Guarantor hereunder, or any setoff or application of funds of any Guarantor by
the Collateral Agent or any Lender, each Guarantor hereby irrevocably waives any
and all rights of subrogation to the rights of the Collateral Agent and the
Lenders against the Borrower and any and all rights of reimbursement,
assignment, indemnification or implied contract or any similar rights against
the Borrower or against any endorser or other guarantor of all or any part of
the Obligations until the Lenders' claims with respect to the Obligations have
been paid in full and the Commitments terminated. If, notwithstanding the
foregoing, any amount shall be paid to any Guarantor on account of such
subrogation rights at any time when all of the Obligations shall not have been
paid in full, such amount shall be held by such Guarantor in trust for the
Collateral Agent and the Lenders, segregated from other funds of such Guarantor,
and shall, forthwith upon receipt by such Guarantor, be turned over to the
Collateral Agent in the exact form received by such Guarantor (duly endorsed by
such Guarantor to the Collateral Agent), to be applied against the Obligations,
whether matured or unmatured, under the Credit Agreement.

           (b) Subordination of Intercompany Indebtedness. Each Guarantor agrees
that any and all claims of any Guarantor against the Borrower or any other
Obligor with respect to any "Intercompany Indebtedness" (as hereinafter
defined), any endorser, obligor or any other guarantor of all or any part of the
Obligations,

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or against any of its properties shall be subordinate and subject in right of
payment to the prior payment, in full and in cash, of all Obligations of the
Borrower under the Credit Agreement. If all or any part of the assets of any
Obligor, or the proceeds thereof, are subject to any distribution, division or
application to the creditors of such Obligor, whether partial or complete,
voluntary or involuntary, and whether by reason of liquidation, bankruptcy,
arrangement, receivership, assignment for the benefit of creditors or any other
action or proceeding, or if the business of any such Obligor is dissolved or if
substantially all of the assets of any such Obligor are sold, then, and in any
such event (such events being herein referred to as an "Insolvency Event"), any
payment or distribution of any kind or character, either in cash, securities or
other property, which shall be payable or deliverable upon or with respect to
any indebtedness of any Obligor to any other Obligor ("Intercompany
Indebtedness") shall be paid or delivered directly to the Collateral Agent for
application to the Obligations of the Borrower under the Credit Agreement,
whether matured or unmatured. Should any payment, distribution, security or
instrument or proceeds thereof be received by any Obligor upon or with respect
to the Intercompany Indebtedness after any Insolvency Event and prior to the
satisfaction of all of the Obligations and the termination or expiration of all
Commitments of the Lenders, such Obligor shall receive and hold the same in
trust, as trustee, for the benefit of the Lenders and shall forthwith deliver
the same to the Collateral Agent, for the benefit of the Lenders, in precisely
the form received (except for the endorsement or assignment of the Obligor where
necessary), for application to the Obligations of the Borrower under the Credit
Agreement, and, until so delivered, the same shall be held in trust by such
Obligor as the property of the Lenders.

           SECTION 6. Representations and Warranties. Each Guarantor hereby
represents and warrants as follows:

           (a) Such Guarantor is a corporation duly organized, validly existing
and in good standing under the laws of the state of its incorporation and is
duly qualified to do business in, and is in good standing in, all other
jurisdictions where the nature of its business or the nature of property owned
or used by it makes such qualification necessary.

           (b) The execution, delivery and performance by such Guarantor of this
Guaranty (i) are within such Guarantor's powers, (ii) have been duly authorized
by all necessary corporate or other organizational action or proceedings and
(iii) do not and will not (A) require any consent or approval of the
stockholders (or other applicable holder of equity) of such Guarantor (other
than such consents and approvals which have been obtained and are in full force
and effect), (B) violate any provision of the charter or by-laws (or other
comparable constitutive documents) of such Guarantor or of law, (C) violate any
legal restriction binding on or affecting such Guarantor, (D) result in a breach
of,

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or constitute a default under, any indenture or loan or credit agreement or any
other agreement, lease or instrument to which such Guarantor is a party or by
which it or its properties may be bound or affected, or (E) result in or require
the creation of any Lien (other than pursuant to the Loan Documents).

           (c) This Guaranty constitutes the legal, valid and binding obligation
of such Guarantor enforceable against such Guarantor in accordance with its
terms; subject to the qualification, however, that the enforcement of the rights
and remedies herein is subject to bankruptcy and other similar laws of general
application affecting rights and remedies of creditors and the application of
general principles of equity (regardless of whether considered in a proceeding
in equity or at law).

           (d) No authorization or approval or other action by, and no notice to
or filing with, any governmental authority or regulatory body is required for
the due execution, delivery and performance by such Guarantor of this Guaranty.

           SECTION 7. Amendments, Etc. No amendment or waiver of any provision
of this Guaranty, and no consent to any departure by any Guarantor herefrom,
shall in any event be effective unless the same shall be in writing and signed
by the Collateral Agent and, in the case of amendments, the Guarantors, and then
such waiver or consent shall be effective only in the specific instance and for
the specific purpose for which given, provided, however, that no amendment,
waiver or consent shall, unless in writing and signed by all the Lenders, (a)
limit the liability of any Guarantor hereunder, (b) postpone any date fixed for
payment hereunder, or (c) change the number of Lenders required to take any
action hereunder.

           SECTION 8. Addresses for Notices. All notices and other
communications provided for hereunder shall be in writing (including facsimile
communication) and mailed, telecopied or delivered, if to the Guarantors, c/o
CMS Energy Corporation at Fairlane Plaza South, 330 Town Center Drive, Suite
1100, Dearborn, Michigan 48126, Attention: General Counsel, and if to the
Collateral Agent or any Lender, at its address specified in the Credit
Agreement, or, as to any party, at such other address as shall be designated by
such party in a written notice to each other party. All such notices and other
communications shall, when mailed, telegraphed, telecopied, telexed or cabled,
be effective five days after when deposited in the mails, or when telecopied or
delivered.

           SECTION 9. No Waiver; Remedies. No failure on the part of the
Collateral Agent or any Lender to exercise, and no delay in exercising, any
right hereunder shall operate as a waiver thereof; nor shall any single or
partial exercise of any right hereunder preclude any other or further exercise
thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

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           SECTION 10. Right of Set-off. Upon (i) the occurrence and during the
continuance of any Event of Default under the Credit Agreement and (ii) the
making of the request or the granting of the consent specified by Section 9.02
of the Credit Agreement to authorize the Collateral Agent to declare the
Promissory Notes due and payable pursuant to the provisions of said Section 9.02
under the Credit Agreement, each Lender is hereby authorized at any time and
from time to time, to the fullest extent permitted by law, to set off and apply
any and all deposits (general or special, time or demand, provisional or final)
at any time held and other indebtedness at any time owing by such Lender to or
for the credit or the account of the applicable Guarantor against any and all of
the obligations of such Guarantor now or hereafter existing under this Guaranty,
whether or not such Lender shall have made any demand under this Guaranty and
although such obligations may be contingent and unmatured. Each Lender agrees to
notify promptly such Guarantor after any such set-off and application made by
such Lender, provided that the failure to give such notice shall not affect the
validity of such set-off and application. The rights of each Lender under this
Section 10 are in addition to other rights and remedies (including, without
limitation, other rights of set-off) which such Lender may have.

           SECTION 11. Continuing Guaranty; Assignments under Credit Agreement.
This Guaranty is a continuing guaranty and shall (i) remain in full force and
effect until the later of (x) the payment in full of the Obligations and all
other amounts payable under this Guaranty and (y) the expiration or termination
of the Commitments, (ii) be binding upon the Guarantor, its successors and
assigns, and (iii) inure to the benefit of, and be enforceable by, the
Collateral Agent, the Lenders and their respective successors, transferees and
assigns. Notwithstanding the foregoing, if all or substantially all of the
assets of any Guarantor or 100% of the stock of any Guarantor is sold in a
transaction permitted under the Credit Agreement, such Guarantor shall
automatically be released from its obligations under this Guaranty. Without
limiting the generality of the foregoing clause (iii), any Lender may assign or
otherwise transfer all or any portion of its rights and obligations under the
Credit Agreement (including, without limitation, all or any portion of its
Commitment, the Loans owing to it and any Promissory Note held by it) to any
other Person, and such other Person shall thereupon become vested with all the
benefits in respect thereof granted to such Lender herein or otherwise subject,
however, to the provisions of Sections 10.04 and 11.07 of the Credit Agreement.

           SECTION 12. Waiver of Jury Trial. EACH OF THE GUARANTORS AND THE
COLLATERAL AGENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR

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RELATING TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT, OR ANY OTHER INSTRUMENT OR
DOCUMENT DELIVERED HEREUNDER OR THEREUNDER.

           SECTION 13. Governing Law; Submission to Jurisdiction. THIS GUARANTY
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAWS OF THE STATE
OF NEW YORK, BUT OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES). EACH
OF THE GUARANTORS AND THE COLLATERAL AGENT (I) IRREVOCABLY SUBMITS TO THE
JURISDICTION OF ANY NEW YORK STATE COURT OR FEDERAL COURT SITTING IN NEW YORK
CITY IN ANY ACTION ARISING OUT OF ANY LOAN DOCUMENT, (II) AGREES THAT ALL CLAIMS
IN SUCH ACTION MAY BE DECIDED IN SUCH COURT, (III) WAIVES, TO THE FULLEST EXTENT
IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT FORUM AND (IV) CONSENTS
TO THE SERVICE OF PROCESS BY MAIL. A FINAL JUDGMENT IN ANY SUCH ACTION SHALL BE
CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS. NOTHING HEREIN SHALL
AFFECT THE RIGHT OF ANY PARTY TO SERVE LEGAL PROCESS IN ANY MANNER PERMITTED BY
LAW OR AFFECT ITS RIGHT TO BRING ANY ACTION IN ANY OTHER COURT. EACH GUARANTOR
WAIVES ANY OBJECTION THAT IT MAY HAVE TO THE LOCATION OF THE COURT IN WHICH THE
COLLATERAL AGENT MAY COMMENCE A PROCEEDING DESCRIBED IN THIS SECTION.

           IN WITNESS WHEREOF, each of the Guarantors has caused this Guaranty
to be duly executed and delivered by its officer thereunto duly authorized as of
the date first above written.

                                        CMS ENERGY CORPORATION

                                         By /s/ Alan M. Wright
                                           --------------------------------
                                                Alan M. Wright
                                         Title: Executive Vice President
                                                Chief Financial Officer &
                                                Chief Administrative Officer

                                         CMS GAS TRANSMISSION COMPANY

                                         By /s/ Carol Isles
                                           --------------------------------
                                                Carol Isles
                                         Title: Vice President and Controller

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                                              CMS GENERATION CO.

                                              By
                                                --------------------------------
                                                Title:

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                                     ANNEX I
                                       to
                                    GUARANTY

           Reference is hereby made to the Guaranty (the "Guaranty") made as of
July ___, 2002 by and among CMS Energy Corporation, a Michigan corporation, CMS
Gas Transmission Company, a Michigan corporation, and CMS Generation Co., a
Michigan corporation (each a "Guarantor" and along with any additional
Subsidiaries of the Borrower that become parties to the Guaranty, including the
undersigned by the execution of this Annex I to Guaranty, the "Guarantors") in
favor of the Collateral Agent for the ratable benefits of the Lenders under the
Credit Agreement. Capitalized terms used herein and not defined herein shall
have the meanings given to them in the Guaranty. By its execution below, the
undersigned [Name of New Guarantor], a __________, agrees to become a Guarantor
under the Guaranty and agrees to be bound by such Guaranty as if originally a
party thereto. By its execution below, the undersigned represents and warrants
as to itself that all of the representations and warranties contained in the
Guaranty are true and correct as of the date hereof.

In witness whereof [Name of New Guarantor], a ________, has executed and
delivered this ANNEX I counterpart to the Guaranty as of their _______, _____.

                                              [Name of New Guarantor]

                                              By
                                                --------------------------------
                                                Title:<PAGE>

                                                                    EXHIBIT 10.1

              AMENDMENT NUMBER EIGHT TO LOAN AND SECURITY AGREEMENT

         THIS AMENDMENT NUMBER EIGHT TO LOAN AND SECURITY AGREEMENT (this
"Amendment"), dated effective as of July 8, 2002, is entered into by and among
Grant Geophysical, Inc., a Delaware corporation ("Borrower"), Foothill Capital
Corporation, a California corporation ("Foothill"), as Agent and as a Lender,
and Elliott Associates, L.P., a Delaware limited partnership ("EALP"), as a
Lender, as follows:

         WHEREAS, Borrower, EALP and Foothill are parties to that certain Loan
and Security Agreement (including any and all amendments, the "Loan Agreement"),
dated as of May 11, 1999, as amended by Amendment Number One to Loan and
Security Agreement, dated to be effective as of August 13, 1999, by and among
Borrower, Foothill and EALP, Amendment Number Two to Loan and Security
Agreement, dated to be effective as of September 23, 1999, by and among
Borrower, Foothill and EALP, Amendment Number Three to Loan and Security
Agreement, dated to be effective as of February 14, 2000, by and among Borrower,
Foothill and EALP, Amendment Number Four to Loan and Security Agreement, dated
to be effective as of February 7, 2001, by and among Borrower, Foothill and
EALP, Amendment Number Five to Loan and Security Agreement, dated to be
effective as of March 21, 2001, by and among Borrower, Foothill and EALP,
Amendment Number Six to Loan and Security Agreement, dated to be effective as of
July 1, 2001, by and among Borrower, Foothill and EALP, and Amendment Number
Seven to Loan and Security Agreement, dated to be effective as of May 24, 2002,
by and among Borrower, Foothill and EALP;

         WHEREAS, Borrower has requested that certain provisions of the Loan
Agreement be amended, so as to provide for the following:

                  (a)  an increase in the maximum principal amount of the FCC
         Supplemental Loan to $19,500,000;

                  (b)  the amendment and restatement of the FCC Supplemental
         Note to reflect the change in the maximum principal amount thereof
         referenced in (a) above; and

                  (c)  the amendment of certain other provisions of the Loan
         Agreement;

         WHEREAS, subject to the conditions set forth in this Amendment,
Borrower, Foothill, and EALP have agreed to amend the Loan Agreement as set
forth below;

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

         1. DEFINITIONS. Initially capitalized terms used herein have the
meanings defined in the Loan Agreement unless otherwise defined herein.
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         2. AMENDMENTS.

         2.01 MODIFICATIONS TO SECTION 1.1 OF THE LOAN AGREEMENT. Section 1.1 of
the Loan Agreement is hereby amended by adding the following definitions to such
section in the appropriate alphabetical order, such definitions to read in their
entirety as follows:

                  ""Applicable Appraisal" means, at any time, the most recent
         appraisal of the Eligible Equipment delivered to Borrower and Lenders
         pursuant to Section 4.6 or, with respect to any item of Eligible
         Equipment not covered by such appraisal, a more recent appraisal of
         such item of Eligible Equipment delivered to Borrower and Lenders
         pursuant to Section 4.6."

                  ""Eighth Amendment to Loan and Security Agreement" means that
         certain Amendment Number Eight to Loan and Security Agreement, dated to
         be effective as of July 8, 2002, by and among Borrower, Foothill and
         EALP."

         2.02 AMENDMENT OF SECTION 1.1 OF THE LOAN AGREEMENT. The definitions of
the following terms in Section 1.1 of the Loan Agreement are hereby amended and
restated to read in their entirety as follows:

                  ""Eligible Equipment" means all Equipment (a) that is owned by
         the Borrower or any Designated Subsidiary, (b) is located in the United
         States or Canada, (c) in the case of Equipment other than Mobile Goods,
         is located at a location identified on Schedule 6.10, (d) in which
         Agent has a first-priority, perfected security interest, subject to
         Permitted Liens, (e) that has been appraised as shown on an Applicable
         Appraisal or has been acquired or moved to the United States or Canada
         since the date of the most recent Applicable Appraisal and (f) as to
         which each representation and warranty contained in Sections 5.1, 5.3
         and 5.4 is true and correct."

                 ""Mobile Goods" means Equipment and Inventory as provided in
         Section 9-103(3) of the Code (as in effect prior to July 1, 2001)."

         2.03 AMENDMENT OF SECTION 2.3(b) OF THE LOAN AGREEMENT. Section 2.3(b)
of the Loan Agreement is hereby amended and restated in its entirety to read as
follows:

         "(b) Prepayment Upon Disposition or Removal of Eligible Equipment. (i)
         Except as otherwise expressly permitted by Section 7.4 of this
         Agreement, upon the disposition of any item of Eligible Equipment,
         Borrower shall, immediately upon such disposition, prepay the FCC Term
         Loan in an amount equal to the net proceeds of such disposition,
         regardless of whether such disposition is permitted under Section 7.4
         of this Agreement (but without approving any such disposition not
         otherwise expressly permitted under Section 7.4 of this Agreement); and
         (ii) upon (x) the removal of any item of Eligible Equipment other than
         Mobile Goods from a location identified on Schedule 6.10 to a location
         not identified on Schedule 6.10 or (y) the removal of any item of
         Eligible Equipment constituting Mobile Goods to a location outside the
         United States and Canada, Borrower shall, no later than the date five
         Business Days after the end of the month in which such removal took
         place, prepay the FCC Term Loan in an amount sufficient to

                                        2
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         cause the outstanding balance of the FCC Term Loan (following such
         prepayment) to be no greater than two-thirds (2/3) of the sum of:

                       (A) the Forced Liquidation Value of all Eligible
                  Equipment other than Mobile Goods then located at a location
                  identified on Schedule 6.10, plus

                       (B) the net book value of any Eligible Equipment other
                  than Mobile Goods then located at a location identified on
                  Schedule 6.10 but not covered by an Applicable Appraisal, plus

                       (C) the Forced Liquidation Value of all Eligible
                  Equipment constituting Mobile Goods then located in the United
                  States or Canada, plus

                       (D) the net book value of any Eligible Equipment
                  constituting Mobile Goods then located in the United States or
                  Canada but not covered by an Applicable Appraisal.

         Mandatory prepayments shall be applied to installments under the FCC
         Term Loan in the inverse order of maturity."

         2.04 AMENDMENT AND RESTATEMENT OF SECTION 2.3A OF THE LOAN AGREEMENT.
Upon satisfaction of the conditions precedent set forth in Section 3 hereof,
Section 2.3A of the Loan Agreement is hereby amended and restated in its
entirety to read as follows:

                          "2.3A  FCC SUPPLEMENTAL LOAN.

         (a) General. Foothill has agreed to make additional loans (each, an
"FCC Supplemental Loan") to Borrower in an aggregate principal amount
outstanding not to exceed at any time Nineteen Million Five Hundred Thousand
Dollars ($19,500,000.00). The unpaid principal balance of the FCC Supplemental
Loan and all accrued and unpaid interest thereon shall be due and payable upon
the earlier of May 11, 2005, or the termination of this Agreement, whether by
its terms, by prepayment, by acceleration, or otherwise. All amounts outstanding
under the FCC Supplemental Loan shall constitute Obligations and Foothill
Obligations and payment thereof shall be secured by all Collateral in accordance
with Section 4 hereof.

         (b) FCC Supplemental Note. The FCC Supplemental Loan shall be evidenced
by an amended and restated secured promissory note, dated as of July 8, 2002, in
the maximum principal amount of $19,500,000, executed by Borrower, payable to
the order of Foothill, the form of which is attached as Exhibit A to the Eighth
Amendment to Loan and Security Agreement (together with any and all renewals,
extensions and modifications thereof, the "FCC Supplemental Note").

         (c) Procedure for Requesting a Borrowing of an FCC Supplemental Loan.
Each Borrowing of an FCC Supplemental Loan shall be made upon Borrower's
irrevocable request for such Borrowing, delivered to Foothill and EALP (which
notice must be received by Foothill no later than 10:00 a.m. (California time)
and which request must be acknowledged by EALP (in writing) on the day prior to
the requested Funding Date) specifying (i) the amount of the

                                        3
<PAGE>

Borrowing, which shall not be less than Two Hundred Fifty Thousand Dollars
($250,000) and shall be a multiple of $250,000, and (ii) the requested Funding
Date, which shall be a Business Day.

         (d) Making an Advance of an FCC Supplemental Loan. Foothill shall make
the amount of the requested Borrowing of an FCC Supplemental Loan available to
the Borrower on the applicable Funding Date by transferring same day funds equal
to the proceeds of such Borrowing to the Designated Account if and only if, on
or before such Funding Date, Agent, for the benefit of the Lender Group, shall
have been granted a first priority perfected security interest in a Deposit
Account maintained with Foothill, in an aggregate amount not less than the
amount of the requested Borrowing and the outstanding principal amount of the
FCC Supplemental Loan on such date. Amounts borrowed pursuant to this Section
2.3A may be repaid and, subject to the terms and conditions of this Agreement,
re-borrowed at any time during the term of this Agreement.

         (e) Interest Rate. Notwithstanding the provisions of Section 2.6
hereof, the outstanding principal amount of each Borrowing of an FCC
Supplemental Loan shall bear interest in accordance with the terms of the FCC
Supplemental Note.

         (f) Payments. Interest payable on the FCC Supplemental Loan shall be
due and payable, in arrears, in accordance with the terms of the FCC
Supplemental Note. Borrower hereby authorizes Agent, at its option, without
prior notice to Borrower, to charge such interest and all installments or other
payments due under the FCC Supplemental Loan to Borrower's Loan Account, which
amounts thereafter shall accrue interest at the rate then applicable to Advances
(as defined in the FCC Supplemental Note) under the FCC Supplemental Note. Any
interest not paid when due shall be compounded and shall thereafter accrue
interest at the rate then applicable to Advances under the FCC Supplemental
Note.

         (g) Prepayments. Notwithstanding the provisions of Sections 3.6 and 3.7
hereof, the unpaid principal balance of the FCC Supplemental Loan may be prepaid
in whole or in part at any time during the term of this Agreement in an amount
of not less than $250,000, or the unpaid balance thereof, upon five (5) Business
Days' prior written notice by Borrower to Agent and EALP, and no Early
Termination Premium shall be applicable to the amount of FCC Supplemental Loan
so prepaid.

         (h) Condition Precedent to Borrowing under FCC Supplemental Loan. The
following shall be a condition precedent to a Borrowing under the FCC
Supplemental Loan hereunder (the failure by Borrower to satisfy such condition
shall not, however, constitute a Default or an Event of Default):

                       (i) The Borrower shall have delivered to the Agent (with
                  a copy to EALP), a Compliance Certificate demonstrating in
                  reasonable detail that for each calendar month ending on or
                  after May 31, 2002, and prior to the thirtieth day preceding
                  the date of request for such Borrowing, Borrower's EBITDA for
                  such calendar month, is not less than ninety percent (90%) of
                  the EBITDA projected for such calendar month in the applicable
                  Approved Budget or (ii) EALP shall have waived the condition
                  precedent set forth in the preceding clause (i) as

                                        4
<PAGE>

                  evidenced by the written acknowledgment by EALP of a request
                  by Borrower for a Borrowing of an FCC Supplemental Loan."

         2.05 AMENDMENT OF SECTION 4.6. Section 4.6 is hereby amended by adding
the following at the conclusion of Section 4.6:

                  "Agent shall, promptly after Borrower's request and at
         Borrower's expense, appraise the Forced Liquidation Value of any item
         of Eligible Equipment not covered by the most recent appraisal of the
         Eligible Equipment delivered to Borrower and Lenders pursuant to this
         Section 4.6. Agent shall deliver a copy of any appraisal pursuant to
         this Section 4.6 to the Borrower and the Lenders promptly after the
         completion thereof."

         2.06 AMENDMENT OF SECTION 6.2 OF THE LOAN AGREEMENT. Section 6.2 of the
Loan Agreement is hereby amended by deleting the word "and" in the last line of
paragraph 6.2(g), changing paragraph "(h)" to "(i)" and inserting new paragraph
6.2(h) to read in its entirety as follows:

         "(h) on a monthly basis and, in any event, by no later than the 15th
         day of each month during the term of this Agreement, a list
         identifying:

                       (x) each item of Eligible Equipment other than Mobile
                  Goods which, during the preceding month, was (i) removed from
                  a location identified on Schedule 6.10 to a location not
                  identified on Schedule 6.10, or (ii) moved to a location
                  identified on Schedule 6.10 from a location not identified on
                  Schedule 6.10;

                       (y) each item of Eligible Equipment constituting Mobile
                  Goods which, during the preceding month, was (i) removed from
                  a location in the United States or Canada to a location
                  outside the United States and Canada or (ii) moved to a
                  location in the United States or Canada from a location
                  outside the United States and Canada; and

                       (z) each item of Eligible Equipment which, during the
                  preceding month was disposed of,

         in each case, with an indication of its net book value as of the end of
         the preceding month, and."

         2.07 AMENDMENT OF SECTION 17.16(f) OF THE LOAN AGREEMENT. Section
17.16(f) of the Loan Agreement is hereby amended and restated in its entirety to
read as follows:

                  "(f) Notwithstanding anything set forth in this Article 17 or
         anywhere else in this Agreement, the right of EALP to receive proceeds
         from the foreign accounts receivable previously sold, and to be sold,
         to EALP under the Agreement for Purchase and Assignment of Foreign
         Accounts Receivable, dated August 3, 2001, as amended, shall not be
         affected or impaired by reason of any provision of this Agreement."

                                        5
<PAGE>

         2.08 REPLACEMENT OF SCHEDULE C-1 OF THE LOAN AGREEMENT. Schedule C-1 of
the Loan Agreement is hereby amended and restated in its entirety to read as set
forth in Schedule C-1 to this Amendment, and all references in the Loan
Agreement to Schedule C-1, or any information set forth therein, shall
hereinafter be deemed to be references to Schedule C-1 as so amended and
restated.

         2.09 REPLACEMENT OF SCHEDULE 6.10 OF THE LOAN AGREEMENT. Schedule 6.10
of the Loan Agreement is hereby amended and restated in its entirety to read as
set forth in Schedule 6.10 to this Amendment, and all references in the Loan
Agreement to Schedule 6.10, or any information set forth therein, shall
hereinafter be deemed to be references to Schedule 6.10 as so amended and
restated.

         3. CONDITIONS TO EFFECTIVENESS. This Amendment shall become effective
upon fulfillment of the following conditions, in each case to the satisfaction
of Agent and each Lender:

         (a) a counterpart of this Amendment shall be executed by Borrower and
delivered to Agent;

         (b) a counterpart of this Amendment shall be executed by EALP and
delivered to Agent;

         (c) each of AST, GGC and GGII shall reaffirm its obligations under the
Loan Documents to which it is a party, pursuant to an instrument in form and
substance satisfactory to Agent;

         (d) Borrower shall execute and deliver to Agent an amended and restated
FCC Supplemental Note in the form attached hereto as Exhibit A;

         (e) Agent shall have received a Company Certificate, duly executed by
Borrower in form and substance satisfactory to Agent, together with certified
resolutions of the Board of Directors of Borrower authorizing the transactions
contemplated by this Amendment; and

         (f) Borrower shall pay all fees and expenses required to be paid by
Borrower pursuant to Section 7.03 of this Amendment.

         4. REPRESENTATIONS AND WARRANTIES OF BORROWER. Borrower hereby
represents and warrants to each Lender as follows:

         (a) the execution, delivery and performance by Borrower of this
Amendment have been duly authorized by all necessary corporate action of
Borrower and do not and will not require any registration with, consent or
approval of, notice to or action by, any Person in order to be effective and
enforceable;

         (b) the execution, delivery and performance by Borrower of this
Amendment will not violate the articles of incorporation, bylaws or any other
agreement to which Borrower is a party or by which the property of Borrower may
be bound;

                                        6
<PAGE>

         (c) the Loan Agreement, as amended by this Amendment, constitutes the
legal, valid and binding obligation of Borrower, enforceable against Borrower in
accordance with its terms, without defense, counterclaim or offset;

         (d) the representations and warranties contained in the Loan Agreement
(as amended by this Amendment) and each other Loan Document are true and correct
on and as of the date hereof as though made on and as of the date hereof, except
to the extent such representations and warranties relate to only a prior
specified date;

         (e) Borrower is in full compliance with all covenants and agreements
contained in the Loan Agreement, as amended by this Amendment, and all such
covenants and agreements are, and shall remain, in full force and effect; and

         (f) no Default or Event of Default is continuing as of the date hereof
after giving effect to, nor shall any Default or Event of Default occur as a
result of, the execution and delivery hereof, or the Borrower's performance of
the obligations herein or under the Loan Agreement, as amended hereby.

         5. RATIFICATIONS.

         5.01 AGREEMENT OF DESIGNATED SUBSIDIARIES. The Designated Subsidiaries
hereby join in this Amendment for the purpose of consenting to the terms hereof.
The Designated Subsidiaries hereby agree that all terms, covenants and
provisions of the Loan Agreement and the other Loan Documents are, and shall
remain, in full force and effect, including (without limitation) the Designated
Subsidiaries' guaranty of the Obligations of Borrower pursuant to the Subsidiary
Guaranties, which Subsidiary Guaranties are hereby acknowledged and reaffirmed
with respect to all Obligations of Borrower arising pursuant to the Loan
Agreement and other Loan Documents, as amended by this Amendment.

         5.02 AGREEMENTS OF EALP. EALP hereby joins in this Amendment for the
purpose of consenting to the terms hereof. EALP hereby agrees, that all terms,
covenants and provisions of the Loan Agreement and the other Loan Documents are,
and shall remain, in full force and effect, including (without limitation) the
subordination provisions set forth at Section 17.16 of the Loan Agreement, as
amended by this Amendment, and EALP's guaranty of the Obligations of Borrower
(other than the EALP Term Loan) pursuant to the EALP Guaranty, which EALP
Guaranty is hereby acknowledged and reaffirmed with respect to all Obligations
of Borrower (other than the EALP Term Loan) arising pursuant to the Loan
Agreement and the other Loan Documents, as amended and increased by this
Amendment.

         5.03 CONTINUATION OF LIENS. Foothill, Borrower and EALP hereby renew
and affirm the Liens created and granted in the Loan Documents, including,
without limitation, that certain Cash Collateral Account Agreement, dated as of
May 24, 2002, among EALP, Foothill and Borrower, and agree that this Amendment
shall in no manner affect or impair such Liens securing the Obligations,
including the FCC Supplemental Loan, as increased hereby, and that such Liens
continue to be valid and subsisting.

         6. CONSENT TO SALE OF AND LIEN ON ADDITIONAL ACCOUNTS Notwithstanding
anything to the contrary contained in Sections 7.1, 7.2 and 7.4 of the Loan
Agreement or in any other

                                        7
<PAGE>

provision of the Loan Agreement, Foothill hereby consents to (i) the sale by
Grant Geophysical (Int'l) Inc., a Texas corporation ("GGII"), to EALP pursuant
to that certain Agreement for Purchase and Assignment of Foreign Accounts
Receivable, dated as of August 3, 2001, as amended to the date hereof, between
GGII and EALP (the "Foreign Receivables Agreement") of all current and future
billed and unbilled non-Dollar denominated foreign accounts, including, without
limitation, all those foreign accounts existing on July 8, 2002 (such sold
accounts collectively, the "Foreign Accounts") for the purchase price set forth
in Section 4 of the Foreign Receivables Agreement, (ii) the grant of a first
priority perfected Lien on the Foreign Accounts, on all books and records
pertaining thereto and all Proceeds thereof, for the benefit of EALP to secure
obligations relating to the sale of the Foreign Accounts to EALP and all other
obligations of GGII and the Designated Affiliates (as defined in the Foreign
Receivables Agreement) under the Foreign Receivables Agreement; and (iii) the
grant by GGII and each of its Designated Affiliates (as defined in the Foreign
Receivables Agreement) of a security interest in and Lien on all currently
existing and hereafter acquired or arising Collateral (as set forth on Exhibit A
to Amendment No. Five to Agreement for Purchase and Assignment of Foreign
Accounts Receivable, dated as July 1, 2001, among EALP, GGII and the Designated
Affiliates (as such term is defined therein)) in order to secure the prompt
payment and performance by GGII and such Designated Affiliates of their
obligations under the Foreign Receivables Agreement.

         7. MISCELLANEOUS.

         7.01 SURVIVAL OF REPRESENTATIONS AND WARRANTIES. All representations
and warranties made herein and in the Loan Agreement shall survive the execution
and delivery of this Amendment, and no investigation by any Lender or any
closing shall affect the representations and warranties or the right of any
Lender to rely upon them.

         7.02 REFERENCE TO LOAN AGREEMENT. The Loan Agreement, as amended
hereby, and all other Loan Documents, whether now or hereafter executed and
delivered, are hereby amended so that any reference to the Loan Agreement shall
mean a reference to the Loan Agreement, as amended by this Amendment.

         7.03 EXPENSES OF AGENT AND LENDERS. As provided in the Loan Agreement,
Borrower agrees to pay on demand all costs and expenses incurred by Agent and
each Lender in connection with the preparation, negotiation and execution of
this Amendment, including, without limitation, the reasonable costs and fees of
Agent's and each Lender's legal counsel, and all costs and expenses incurred by
Agent and the Lenders in connection with the enforcement or preservation of any
rights under the Loan Agreement, as amended hereby, or any other Loan Document.

         7.04 SEVERABILITY. Any provision of this Amendment held by a court of
competent jurisdiction to be invalid or unenforceable shall not impair or
invalidate the remainder of this Amendment and the effect thereof shall be
confined to the provision so held to be invalid or unenforceable.

         7.05 SUCCESSORS AND ASSIGNS. This Amendment is binding upon and shall
inure to the benefit of the parties hereto and their respective successors and
assigns, except Borrower may

                                        8
<PAGE>

not assign or transfer any of its rights or obligations hereunder without the
prior written consent of the Lenders.

         7.06 COUNTERPARTS. This Amendment may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original,
but all of which when taken together shall constitute one and the same
instrument.

         7.07 FACSIMILE TRANSMISSION OF SIGNATURES. Any party to this Amendment
may indicate its intention to be bound by its execution and delivery of this
Amendment by its signature to the signature page hereof and the delivery of the
signature page hereof, to the other party or its representatives by facsimile
transmission or telecopy. The delivery of a party's signature on the signature
page by facsimile transmission or telecopy shall have the same force and effect
as if such party signed and delivered this Amendment in person.

         7.08 HEADINGS. The headings, captions, and arrangements used in this
Amendment are for convenience only and shall not affect the interpretation of
this Amendment.

         7.09 APPLICABLE LAW. THIS AMENDMENT AND ALL OTHER LOAN DOCUMENTS
EXECUTED PURSUANT HERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK.

         7.10 FINAL AGREEMENT. THE LOAN AGREEMENT, AS AMENDED HEREBY, AND THE
OTHER LOAN DOCUMENTS REPRESENT THE ENTIRE EXPRESSION OF THE PARTIES WITH RESPECT
TO THE SUBJECT MATTER HEREOF AND THEREOF ON THE DATE THIS AMENDMENT IS EXECUTED.
THE LOAN AGREEMENT, AS AMENDED HEREBY, MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE
NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. NO MODIFICATION, RESCISSION,
WAIVER, RELEASE OR AMENDMENT OF ANY PROVISION OF THIS AMENDMENT SHALL BE MADE,
EXCEPT BY A WRITTEN AGREEMENT SIGNED BY BORROWER, THE AGENT AND THE LENDERS.

         7.11 RELEASE. BORROWER HEREBY ACKNOWLEDGES THAT IT HAS NO DEFENSE,
COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE
WHATSOEVER THAT CAN BE ASSERTED TO REDUCE, IMPAIR OR ELIMINATE ALL OR ANY PART
OF ITS LIABILITY TO REPAY THE OBLIGATIONS (AS DEFINED IN THE LOAN AGREEMENT) OR
TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM AGENT OR ANY
LENDER. BORROWER HEREBY VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER
DISCHARGES AGENT AND EACH LENDER, THE PREDECESSORS, AGENTS, EMPLOYEES,
SUCCESSORS AND ASSIGNS OF EACH, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS,
CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR
UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED,
CONTINGENT, OR CONDITIONAL, AT

                                        9
<PAGE>

LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS
AMENDMENT IS EXECUTED, WHICH THE BORROWER MAY NOW OR HEREAFTER HAVE AGAINST
AGENT OR SUCH LENDER, THE PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND
ASSIGNS, IF ANY, OF EACH, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT
OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING
FROM ANY OBLIGATIONS (AS DEFINED IN THE LOAN AGREEMENT), INCLUDING, WITHOUT
LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING OR
RECEIVING INTEREST IN EXCESS OF THE MAXIMUM RATE, THE EXERCISE OF ANY RIGHTS AND
REMEDIES UNDER THE LOAN AGREEMENT OR ANY AGREEMENT, DOCUMENT OR INSTRUMENT
ENTERED INTO IN CONNECTION THEREWITH.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       10
<PAGE>

         IN WITNESS HEREOF, this Amendment has been executed and delivered as of
the date first set forth above.

                              GRANT GEOPHYSICAL, INC.,
                              a Delaware corporation

                              By: /s/ RICHARD F. MILES
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                              FOOTHILL CAPITAL CORPORATION,
                              a California corporation, as Agent and as a Lender

                              By: /s/ ROBERT BERNIER
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                              ELLIOTT ASSOCIATES, L.P.
                              a Delaware limited partnership, as a Lender

                              By: /s/ ELLIOTT GREENBERG
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                              ADVANCED SEISMIC TECHNOLOGY, INC.,
                              a Texas corporation

                              By: /s/ RICHARD F. MILES
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                              GRANT GEOPHYSICAL DO BRASIL LTDA.,
                              a corporation organized under the laws
                              of the Republic of Brazil, South America

                              By: /s/ RICHARD F. MILES
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                                       11
<PAGE>

                              GRANT GEOPHYSICAL CORP.,
                              a Texas corporation

                              By: /s/ RICHARD F. MILES
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                              GRANT GEOPHYSICAL (INT'L) INC.,
                              a Texas corporation

                              By: /s/ RICHARD F. MILES
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                              PT. GRANT GEOPHYSICAL INDONESIA,
                              a corporation organized under the laws of the
                              Republic of Indonesia

                              By: /s/ RICHARD F. MILES
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                              SOLID STATE GEOPHYSICAL INC.,
                              a corporation organized under the laws of the
                              Province of Alberta, Canada

                              By: /s/ RICHARD F. MILES
                                 -----------------------------------------------
                              Name:
                                   ---------------------------------------------
                              Title:
                                    --------------------------------------------

                                       12
<PAGE>

                                  Schedule C-1
                                       To
                           Loan and Security Agreement

Commitments on Effective Date of Eighth Amendment to Loan and Security Agreement

<TABLE>
<CAPTION>
                                                                                        Percent of       Pro Rata
Lender                                    Facility                      Amount           Facility         Share
------                                    --------                      ------           --------         -----
<S>                                       <C>                         <C>               <C>              <C>
Foothill Capital Corporation              Revolving Facility          $ 8,000,000          100%          18.60465%
Foothill Capital Corporation              FCC Term Loan               $ 8,000,000          100%          18.60465%
Elliott Associates, L.P.                  EALP Term Loan              $ 7,500,000          100%          17.44186%
Foothill Capital Corporation              FCC Supplemental Loan       $19,500,000          100%          45.34884%
                                                                      -----------                        ---------
Total                                                                 $43,000,000                        100%
</TABLE>
<PAGE>

                                  Schedule 6.10
                                       to
                           Loan and Security Agreement

                       Location of Inventory and Equipment

1.     16850 Park Row
       Houston, Harris County, Texas 77084

2.     7309 Flint Road S.E.
       Calgary, Alberta, Canada T2H 1G3

3.     502 FM 359 South
       Brookshire, Waller County, Texas 77423
<PAGE>

                                    EXHIBIT A
          (FORM OF AMENDED AND RESTATED FCC SUPPLEMENTAL NOTE ATTACHED)
<PAGE>
                  AMENDED AND RESTATED SECURED PROMISSORY NOTE

$19,500,000.00                                                      July 8, 2002

         FOR VALUE RECEIVED, GRANT GEOPHYSICAL, INC., a Delaware corporation
("Borrower"), promises to pay to the order of FOOTHILL CAPITAL CORPORATION, a
California corporation ("Foothill"), at its offices at 11111 Santa Monica
Boulevard, Suite 1500, Los Angeles, California 90025-3333, or at such other
place or places as Foothill may from time to time designate in writing, the
principal sum of Nineteen Million Five Hundred Thousand and No/100 Dollars
($19,500,000.00), or so much thereof as shall have been advanced and remain
outstanding hereunder, plus interest in the manner and upon the terms and
conditions set forth below and in the Loan Agreement referred to below. This
Amended and Restated Secured Promissory Note (this "Note") is made pursuant to
that certain Loan and Security Agreement (as amended, the "Loan Agreement"),
dated as of May 11, 1999, among Borrower, the lending entities from time to time
party thereto (together with their respective successors and assigns, the
"Lenders"), and Foothill, as agent for the Lenders (the "Agent"), as amended
from time to time, the provisions of which are incorporated herein by this
reference, and evidences the FCC Supplemental Loan, as defined and described in
the Loan Agreement. Capitalized terms herein, unless otherwise noted, shall have
the meaning set forth in the Loan Agreement.

1.0      ADVANCES, SCHEDULE OF PAYMENTS; RATE AND PAYMENT OF INTEREST;
         PREPAYMENT.

         1.1 The principal amount of this Note may be advanced to Borrower in
one or more advances (each, an "Advance") by Foothill, each Advance to be in an
amount of not less than Two Hundred Fifty Thousand and No/100 Dollars
($250,000.00) and a multiple of $250,000, and in accordance with the terms and
provisions of the Loan Agreement. Amounts borrowed hereunder may be repaid and,
subject to the terms and conditions of the Loan Agreement, re-borrowed at any
time during the term hereof.

         1.2 Except to the extent this Note may become due and payable earlier
in accordance with the Loan Agreement, this Note shall be due and payable as
follows: accrued interest on the unpaid principal balance of this Note from time
to time remaining unpaid, shall be due and payable, in arrears, on the first day
of each calendar month during the term hereof, and the unpaid principal balance
of this Note, together with accrued interest on the principal balance remaining
unpaid, shall be due and payable on May 11, 2005.

         1.3 Prepayment may be made under this Note in whole or in part, subject
to the provisions of Section 2.3A(g) of the Loan Agreement. Notwithstanding
anything herein to the contrary, in the event that the Loan Agreement is
terminated by Borrower, by Foothill or by any other person at any time, then the
entire unpaid principal balance of this Note, together with all accrued and
unpaid interest hereon, shall become immediately due and payable in full on the
effective date of such termination, without presentment, notice or demand of any
kind.

         1.4 Interest on the unpaid principal balance of this Note shall be
computed for each day on the basis of a 360-day year for the actual number of
days elapsed, and shall be at the Deposit Rate (as hereinafter defined) for such
day; provided, however, upon the occurrence and during the continuance of an
Event of Default (as hereinafter defined), interest shall accrue on

<PAGE>

the outstanding principal balance of this Note at a default rate (the "Default
Rate") of five and one-half (5- 1/2) percentage points above the Deposit Rate
and shall be payable on demand.

         1.5 (a) "Deposit Rate" means, for any day, (i) the rate of interest per
annum (over a year of 360 days) payable on such day on the sums on deposit by
EALP with Foothill securing payment of the Advances hereunder as specified in
paragraph 2 of that certain Cash Collateral Account Letter Agreement, dated as
of May 24, 2002 (the "Cash Collateral Account Letter Agreement") as amended from
time to time, among Foothill, EALP and Borrower with respect to the related cash
collateral account pursuant to which such sums are on deposit, or (ii) from and
after the day that this Note is transferred to EALP pursuant to Section 9.5 of
the Loan Agreement, the rate of interest per annum (over a year of 360 days)
that would have been payable in accordance with the Cash Collateral Account
Letter Agreement on a sum equal to the unpaid balance hereof on such day whether
or not such sum is actually on deposit with Foothill.

             (b) The Deposit Rate is not necessarily the lowest rate charged by
Foothill. The applicable rate of interest assessed hereunder will be increased
or decreased from time to time hereafter in an amount equal to any increase or
decrease hereafter in the Deposit Rate. A change in the Deposit Rate shall be
effective automatically and immediately on the occurrence of such change.

         1.6 Foothill shall record on its books the principal amount of each
Advance hereunder, from time to time. In addition, Foothill is authorized, at
its option, to note the date and amount of each payment or prepayment of
principal hereof in its books and records, including computer records, such
books and records constituting rebuttably presumptive evidence, absent manifest
error, of the accuracy of the information contained therein.

2.0      EVENTS OF DEFAULTS; REMEDIES.

         2.1 The occurrence of an Event of Default under the Loan Agreement
shall constitute a default by Borrower under this Note (hereinafter an "Event of
Default").

         2.2 Upon the occurrence of any Event of Default hereunder, the Lenders
and the Agent shall have all rights and remedies as may be provided under the
Loan Agreement and applicable law.

3.0      GENERAL PROVISIONS.

         3.1 Borrower warrants and represents to the Agent and the Lenders that
Borrower has used and will continue to use the loans and advances represented by
this Note solely for proper business purposes, and consistent with all
applicable laws and statutes.

         3.2 This Note is secured by the Collateral described in the Loan
Agreement.

         3.3 Borrower waives presentment, demand and protest, notice of protest,
notice of presentment, notice of intention to accelerate, notice of
acceleration, and all other notices and demands in connection with the
enforcement of the Lenders', Foothill's or the Agent's rights hereunder or under
the Loan Agreement, except as specifically provided and called for by this Note
or the Loan Agreement, and hereby consents to, and waives notice of, the
release, addition, or substitution, with or without consideration, of any
collateral or of any person liable for

                                       2
<PAGE>

payment of this Note or any other Obligation. Any failure of the Lenders or the
Agent to exercise any right available hereunder, under the Loan Agreement or
otherwise shall not be construed as a waiver of the right to exercise the same
or as a waiver of any other right at any other time.

         3.4 If this Note is not paid when due or upon the occurrence of an
Event of Default, Borrower further promises to pay all costs of collection,
foreclosure fees, attorneys' fees and expert witness fees incurred by the
Lenders or the Agent, whether or not suit is filed hereon, and the fees, costs
and expenses as provided in the Loan Agreement.

         3.5 It is the intent of the parties to comply with applicable usury
laws (the "Applicable Usury Law"). Accordingly, it is agreed that
notwithstanding any provisions to the contrary in this Note, or in any of the
documents securing payment hereof or otherwise relating hereto, in no event
shall this Note or such documents require the payment or permit the collection
of interest in excess of the maximum rate permitted by the Applicable Usury Law
("Maximum Interest Rate"), and in any such event (1) the provisions of this
paragraph shall govern and control, (2) neither Borrower nor any other person or
entity now or hereafter liable for the payment hereof shall be obligated to pay
the amount of such interest to the extent that it is in excess of the Maximum
Interest Rate, (3) any such excess which may have been collected shall be either
applied as a credit against the then unpaid principal amount hereof or refunded
to Borrower, at Foothill's option, and (4) the effective rate of interest shall
be automatically reduced to the Maximum Interest Rate. It is further agreed,
without limiting the generality of the foregoing, that to the extent permitted
by the Applicable Usury Law: (x) all calculations of interest which are made for
the purpose of determining whether such rate would exceed the Maximum Interest
Rate shall be made by amortizing, prorating, allocating and spreading during the
period of the full stated term of the loan evidenced hereby, all interest at any
time contracted for, charged or received from Borrower or otherwise in
connection with such loan; and (y) in the event that the effective rate of
interest on the loan should at any time exceed the Maximum Interest Rate, such
excess interest that would otherwise have been collected had there been no
ceiling imposed by the Applicable Usury Law shall be paid to Foothill from time
to time, if and when the effective interest rate on the loan otherwise fall
below the Maximum Interest Rate, until the entire amount of interest which would
otherwise have been collected had there been no ceiling imposed by the
Applicable Usury Law has been paid in full. Borrower further agrees that should
the Maximum Interest Rate be increased at any time hereafter because of a change
in the Applicable Usury Law, then to the extent not prohibited by the Applicable
Usury Law, such increases shall apply to all indebtedness evidenced hereby
regardless of when incurred; but, again to the extent not prohibited by the
Applicable Usury Law, should the Maximum Interest Rate be decreased because of a
change in the Applicable Usury Law, such decreases shall not apply to the
indebtedness evidenced hereby regardless of when incurred.

         3.6 Subject to the applicable provisions of the Loan Agreement,
Foothill may at any time transfer this Note and Foothill's rights in any or all
collateral securing this Note, and Foothill thereafter shall be relieved from
all liability with respect to such collateral arising after the date of such
transfer.

         3.7 This Note shall be binding upon Borrower and its legal
representatives, successors and assigns. Wherever possible, each provision of
this Note shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of the Note shall be prohibited by or
invalid under such law, such provision shall be severable, and be ineffective to

                                       3
<PAGE>

the extent of such prohibition or invalidity, without invalidating the remaining
provision of this Note.

         THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
INTERNAL LAWS (AS OPPOSED TO THE CONFLICTS OF LAW PROVISIONS) OF THE STATE OF
NEW YORK, AS THE SAME MAY FROM TIME TO TIME BE IN EFFECT, INCLUDING, WITHOUT
LIMITATION, THE UNIFORM COMMERCIAL CODE AS ADOPTED IN THE STATE OF NEW YORK.
BORROWER HEREBY (i) IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY STATE OR
FEDERAL COURT LOCATED IN NEW YORK COUNTY, NEW YORK, OVER ANY ACTION OR
PROCEEDING TO ENFORCE OR DEFEND ANY MATTER ARISING FROM OR RELATED TO THIS NOTE;
(ii) IRREVOCABLY WAIVES, TO THE FULLEST EXTENT BORROWER MAY EFFECTIVELY DO SO,
THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF ANY SUCH ACTION OR
PROCEEDING; (iii) AGREES NOT TO INSTITUTE ANY LEGAL ACTION OR PROCEEDING AGAINST
FOOTHILL OR ANY OF FOOTHILL'S DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR
PROPERTY, CONCERNING ANY MATTER ARISING OUT OF OR RELATING TO THIS NOTE IN ANY
COURT OTHER THAN ONE LOCATED IN NEW YORK COUNTY, NEW YORK; AND (iv) IRREVOCABLY
WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION ARISING UNDER OR IN CONNECTION
WITH THIS NOTE. NOTHING IN THIS PARAGRAPH SHALL AFFECT OR IMPAIR FOOTHILL'S
RIGHT TO SERVE LEGAL PROCESS IN ANY MANNER PERMITTED BY LAW OR FOOTHILL'S RIGHT
TO BRING ANY ACTION OR PROCEEDING AGAINST BORROWER OR BORROWER'S PROPERTY IN THE
COURTS OF ANY OTHER JURISDICTION.

         This Note amends, modifies, restates and replaces, but does not
extinguish the indebtedness evidenced by, that certain Secured Promissory Note,
dated May 24, 2002, executed by Borrower and payable to the order of Foothill in
the original stated principal amount of $16,500,000 (the "Prior Note"). All
rights, titles, liens, security interests and agreements securing or benefiting
the Prior Note are preserved, maintained and carried forward to secure and
benefit this Note.

                                       GRANT GEOPHYSICAL, INC.,
                                       a Delaware corporation

                                       By: /s/ RICHARD F. MILES
                                          -------------------------------------
                                          Name:
                                          Title:

                                       "Borrower"

                                       Federal Taxpayer Identification
                                       Number: 76-0548468
                                       Address:
                                       16850 Park Row
                                       Houston, Texas 77084

                                       4

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