Document:

Exhibit 10.12

    
      

    

     

    Exhibit
      10.12

    
 

    

    AMENDED
      AND RESTATED CREDIT AGREEMENT

    

    

    dated
      as
      of March 10, 2006

    

    between

    

    

    RPC,
      INC.

    as
      Borrower

    

    

    and

    

    

    SUNTRUST
      BANK 

    as
      Lender

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    TABLE
      OF CONTENTS

     

    
      	 	
              Page

               

            
	ARTICLE I. DEFINITIONS;
              CONSTRUCTION	
               1

            
	    Section
              1.01 Definitions	
               1

            
	    Section
              1.02 Accounting Terms and Determination	
               7

            
	ARTICLE II. AMOUNT
              AND TERMS OF THE FACILITY	
               7

            
	    Section
              2.01 Loans and Note	
               7

            
	    Section
              2.02 Procedure for Loans	
               7

            
	    Section
              2.03 Repayment of Loans	
               8

            
	    Section
              2.04 Interests on Loans; Letter of Credit Fee	
               8

            
	    Section
              2.05 Computation of Interest	
               8

            
	    Section
              2.06 Increased Costs	
               8

            
	    Section
              2.07 Funding Indemnity	
               9

            
	    Section
              2.08 Payments Generally	
               9

            
	    Section
              2.09 Letters of Credit	
              10

            
	ARTICLE III. MISCELLANEOUS	
              12

            
	    Section
              3.01 Conditions To Effectiveness	
              12

            
	    Section
              3.02 Representations and Warranties	
              12

            
	    Section
              3.03 Notices	
              14

            
	    Section
              3.04 Waivers; Amendments	
              15

            
	    Section
              3.05 Expenses; Indemnification	
              15

            
	    Section
              3.06 Successors and Assigns	
              16

            
	    Section
              3.07 Governing Law; Jurisdiction; Consent to Service of
              Process16	
              16

            
	    Section
              3.08 Waiver of Jury Trial	
              17

            
	    Section
              3.09 Right of Setoff	
              17

            
	    Section
              3.10 Counterparts; Integration	
              18

            
	    Section
              3.11 Survival	
              18

            
	    Section
              3.12 Severability	
              18

            
	    Section
              3.13 Interest Rate Limitation 	
              18

            
	    Section
              3.14 No Novation	
              19

            
	    Section
              3.15 Patriot Act	
              19

            

    

     

    Exhibits

     

    Exhibit
      A 
-    Pricing
      Grid

    Exhibit
      B
  -               
      Form
      of
      Amended and Restated Demand Note

     

    

    
      
        
        

      

      
        -i-

        
          

        

      

      
        
        

      

    

    
 

    AMENDED
      AND RESTATED REVOLVING CREDIT AGREEMENT

    

    

    THIS
      AMENDED AND RESTATED CREDIT AGREEMENT (this
      “Agreement”) is
      made
      and entered into as of March 10, 2006, by and between RPC, INC., a Delaware
      corporation (the “Borrower”)
      and
      SUNTRUST BANK, a Georgia banking corporation (the “Lender”).

    

    W
      I T N E S S E T H:

    

    WHEREAS,
      the
      Borrower and the Lender entered into that certain Credit Agreement dated as
      of
      March 19, 2003 (the “Original
      Agreement”)
      pursuant to which the Lender established a $25,000,000 credit facility in favor
      of the Borrower;

    

    WHEREAS,
      the
      Borrower has requested that the Lender increase the credit facility from
      $25,000,000 to $50,000,000; and 

    

    WHEREAS,
      the
      Borrower and the Lender have agreed to increase the amount of the facility
      on an
      uncommitted basis, to amend the Original Agreement in certain other respects,
      and to restate the Original Agreement in its entirety as so increased and
      amended.

    

    NOW,
      THEREFORE,
      in
      consideration of the premises and the mutual covenants herein contained, the
      Borrower and the Lender agree as follows:

     

    ARTICLE
      I.  

    

    DEFINITIONS;
      CONSTRUCTION

    

    Section
      1.01  Definitions.
      In
      addition to the other terms defined herein, the following terms used herein
      shall have the meanings herein specified (to be equally applicable to both
      the
      singular and plural forms of the terms defined):

    

    “Adjusted
      LIBO Rate”
shall
      mean, with respect to each Interest Period for a Eurodollar Loan, the rate
      per
      annum obtained by dividing (i) LIBOR for such Interest Period by (ii) a
      percentage equal to 1.00 minus
      the
      Eurodollar Reserve Percentage.

    

    “Applicable
      Margin”
shall
      mean, with respect to all Eurodollar Loans outstanding on any date, the
      percentage determined by reference to the applicable Total Funded Debt to EBITDA
      Ratio in effect on such date as set forth on Exhibit
      A
      attached
      hereto.

     

    “Base
      Rate”
      shall
      mean the higher of (i) the per annum rate which the Lender publicly
      announces from time to time to be its prime lending rate, as in effect from
      time
      to time, and (ii) the Federal Funds Rate, as in effect from time to time,
plus
      one-half
      of one percent (0.50%). The Lender’s prime lending rate is a reference rate and
      does not necessarily 

     

    
      
        
        

      

      
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    represent
      the lowest or best rate charged to customers. The Lender may make commercial
      loans or other loans at rates of interest at, above or below the Lender’s prime
      lending rate. Each change in the Lender’s prime lending rate shall be effective
      from and including the date such change is publicly announced as being
      effective.

    

    “Borrower”
      shall
      have the meaning in the introductory paragraph hereof. 

    

    “Business
      Day”
      shall
      mean (i) any day other than a Saturday, Sunday or other day on which commercial
      banks in Atlanta, Georgia are authorized or required by law to close and (ii)
      if
      such day relates to a borrowing of, a payment or prepayment of principal or
      interest on, a conversion of or into, or an Interest Period for, a Eurodollar
      Loan or a notice with respect to any of the foregoing, any day on which dealings
      in Dollars are carried on in the London interbank market.

    

    “Capital
      Lease Obligations”
      shall
      mean all obligations to pay rent or other amounts under any lease (or other
      arrangement conveying the right to use) real or personal property, or a
      combination thereof, which obligations are required to be classified and
      accounted for as capital leases on a balance sheet under GAAP, and the amount
      of
      such obligations shall be the capitalized amount thereof determined in
      accordance with GAAP.

     

    “Change
      In Law”
shall
      mean (i) the adoption of any applicable law, rule or regulation after the date
      of this Agreement or (ii) any change of any applicable law, rule or regulation
      that occurs after the date of this Agreement.

    

    “Consolidated
      EBITDA”
shall
      mean, for the Borrower and its Subsidiaries for any period, an amount equal
      to
      the sum of (a) Consolidated Net Income for such period plus
      (b) to
      the extent deducted in determining Consolidated Net Income for such period,
      (i)
      Consolidated Interest Expense, (ii) income tax expense determined on a
      consolidated basis in accordance with GAAP, (iii) depreciation and amortization
      determined on a consolidated basis in accordance with GAAP and (iv) all
      other non-cash charges, determined on a consolidated basis in accordance with
      GAAP in each case for such period.

     

    “Consolidated
      Interest Expense”
      shall
      mean, for the Borrower and its Subsidiaries for any period, the sum of (i)
      total
      cash interest expense determined on a consolidated basis in accordance with
      GAAP, including without limitation the interest component of any payments in
      respect of Capital Lease Obligations capitalized or expensed during such
      period (whether
      or not actually paid during such period) plus
      (ii)
      the
      net amount payable (or minus
      the net
      amount receivable) under Hedging Agreements during such period (whether or
      not
      actually paid or received during such period).

    

    “Consolidated
      Net Income”
      shall
      mean, for the Borrower and its Subsidiaries for any period, the net income
      (or
      loss) of the Borrower and its Subsidiaries for such period determined on a
      consolidated basis in accordance with GAAP, but excluding therefrom (to the
      extent otherwise included therein) (i) any extraordinary gains or losses,
      (ii) any gains attributable to write-ups of assets and (iii) any equity
      interest of the Borrower or any Subsidiary of the Borrower in the unremitted
      earnings of any Person that is not a Subsidiary and (iv) any income

     

    
      
        
        

      

      
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    (or
      loss)
      of any Person accrued prior to the date it becomes a Subsidiary or is merged
      into or consolidated with the Borrower or any Subsidiary on the date that such
      Person’s assets are acquired by the Borrower or any Subsidiary.

    

    “Consolidated
      Total Funded Debt”
shall
      mean, as of any date, all Indebtedness of the Borrower and its Subsidiaries
      described in the definition of “Indebtedness”, including, without limitation,
      all Loans.

    

    “Default”
      shall
      mean the Borrower’s failure to pay the Note on the Termination
      Date.

    

    “Dollar(s)”
      and the
      sign “$”
shall
      mean lawful money of the United States of America.

    

    “Eurodollar”
      when
      used in reference to any Loan, refers to whether such Loan bears interest at
      a
      rate determined by reference to the Adjusted LIBO Rate. 

    

    “Eurodollar
      Reserve Percentage”
shall
      mean the aggregate of the reserve percentage (including, without limitation,
      any
      emergency, supplemental, special or other marginal reserves) expressed as a
      decimal (rounded upwards to the next 1/100th
      of 1%)
      in effect on any day to which the Lender is subject with respect to the Adjusted
      LIBO Rate pursuant to regulations issued by the Board of Governors of the
      Federal Reserve System (or any Governmental Authority succeeding to any of
      its
      principal functions) with respect to eurocurrency funding (currently referred
      to
      as “eurocurrency liabilities” under Regulation D). Eurodollar Loans shall be
      deemed to constitute eurocurrency funding and to be subject to such reserve
      requirements without benefit of or credit for proration, exemptions or offsets
      that may be available from time to time to the Lender under Regulation D. The
      Eurodollar Reserve Percentage shall be adjusted automatically on and as of
      the
      effective date of any change in any reserve percentage.

    

    “Facility”
      shall
      mean the $50,000, 000 line of credit established by the Lender to the Borrower
      on an uncommitted basis for the making of Loans and/or the issuance of Letters
      of Credit in the sole discretion of the Lender.

    

    “Federal
      Funds Rate”
      shall
      mean, for any day, the rate per annum (rounded upwards, if necessary, to the
      next 1/100th
      of 1%)
      equal to the weighted average of the rates on overnight Federal funds
      transactions with member banks of the Federal Reserve System arranged by Federal
      funds brokers, as published by the Federal Reserve Bank of New York on the
      next
      succeeding Business Day or if such rate is not so published for any Business
      Day, the Federal Funds Rate for such day shall be the average rounded upwards,
      if necessary, to the next 1/100th of 1% of the quotations for such day on such
      transactions received by the Lender from three Federal funds brokers of
      recognized standing selected by the Lender.

    

    “GAAP”
shall
      mean generally accepted accounting principles in the United States applied
      on a
      consistent basis and subject to the terms of Section
      1.02.

     

    
      
        
        

      

      
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    “Governmental
      Authority”
shall
      mean the government of the United States of America, any other nation or any
      political subdivision thereof, whether state or local, and any agency,
      authority, instrumentality, regulatory body, court, central bank or other entity
      exercising executive, legislative, judicial, taxing, regulatory or
      administrative powers or functions of or pertaining to government.

    

    “Hedging
      Agreements”
shall
      mean interest rate swap, cap or collar agreements, interest rate future or
      option contracts, currency swap agreements, currency future or option contracts,
      commodity agreements and other similar agreements or arrangements designed
      to
      protect against fluctuations in interest rates, currency values or commodity
      values.

    

    “Indebtedness”
of
      any
      Person shall mean, without duplication (i) all obligations of such Person
      for borrowed money, (ii) all obligations of such Person evidenced by bonds
      (excluding performance bonds), debentures, notes or other similar instruments,
      (iii) all obligations of such Person in respect of the deferred purchase price
      of property or services (other than trade payables incurred in the ordinary
      course of business; provided,
      that,
      trade payables overdue by more than 120 days shall be included in this
      definition except to the extent that any of such trade payables are being
      disputed in good faith and by appropriate measures), (iv) all obligations of
      such Person under any conditional sale or other title retention agreement(s)
      relating to property acquired by such Person, (v) all Capital Lease
      Obligations of such Person, (vi) all obligations, contingent or otherwise,
      of
      such Person in respect of letters of credit, acceptances or similar extensions
      of credit, (vii) all Guarantees
      of such
      Person of the type of Indebtedness described in clauses (i) through (v) above,
      (viii) all Indebtedness of a third party secured by any lien or other type
      of
      security interest on property owned by such Person, whether or not such
      Indebtedness has been assumed by such Person, (ix) all obligations of such
      Person, contingent or otherwise, to purchase, redeem, retire or otherwise
      acquire for value any common stock of such Person, (x) Off-Balance Sheet
      Liabilities, and (xi) all obligations under any Hedging Agreement. The
      Indebtedness of any Person shall include the Indebtedness of any partnership
      or
      joint venture in which such Person is a general partner or a joint venturer,
      except to the extent that the terms of such Indebtedness provide that such
      Person is not liable therefor.

    

    “Interest
      Period”
      shall
      mean, with respect to any Eurodollar Loan, a period of one, two, three or six
      months, as the Borrower may request and the Lender may approve in its sole
      discretion; provided,
      that: 

     

    (i)  the
      initial Interest Period for any such Loan shall commence on the date of such
      Loan and each Interest Period occurring thereafter in respect of such

    Loan
      shall commence on the day on which the next preceding Interest Period
      expires;

     

    (ii)  if
      any
      Interest Period would otherwise end on a day other than a Business Day, such
      Interest Period shall be extended to the next succeeding Business Day, unless
      such Business Day falls in another calendar month, in which case such Interest
      Period would end on the next preceding Business Day; and 

     

    (iii)  any
      Interest Period which begins on the last Business Day of a calendar month or
      on
      a day for which there is no numerically corresponding day in the 

     

    
      
        
        

      

      
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    calendar
      month at the end of such Interest Period shall end on the last Business Day
      of
      such calendar month. 

    

    “LC
      Disbursement”
shall
      mean a payment made by the Lender pursuant to a Letter of Credit.

    

    “LC
      Documents”
shall
      mean the Letters of Credit and all applications, agreements and instruments
      relating to the Letters of Credit.

    

    “LC Exposure”
shall
      mean, at any time, the sum of (i) the aggregate undrawn amount of all
      outstanding Letters of Credit at such time, plus
      (ii) the aggregate amount of all LC Disbursements that have not been
      reimbursed by or on behalf of the Borrower at such time. 

    

    “Letter
      of Credit”
shall
      mean any letter of credit issued pursuant to Section
      2.09
      by the
      Lender for the account of the Borrower under the Facility.

    

    “LIBOR”
shall
      mean, for any applicable Interest Period with respect to any Eurodollar Loan,
      the rate per annum for deposits in Dollars for a period equal to such Interest
      Period appearing on the display designated as Page 3750 on the Telerate Service
      (or such other page on that service or such other service designated by the
      British Bankers’ Association for the display of such Association’s Interest
      Settlement Rates for Dollar deposits) as of 11:00 a.m. (London, England
      time) on the day that is two Business Days prior to the first day of the
      Interest Period or if such Page 3750 is unavailable for any reason at such
      time,
      the rate which appears on the Reuters Screen ISDA Page as of such date and
      such
      time; provided,
      that if
      the Lender determines that the relevant foregoing sources are unavailable for
      the relevant Interest Period, LIBOR shall mean the rate of interest determined
      by the Lender to be the average (rounded upward, if necessary, to the nearest
      1/100th
      of 1%)
      of the rates per annum at which deposits in Dollars are offered to the Lender
      two (2) Business Days preceding the first day of such Interest Period by leading
      banks in the London interbank market as of 10:00 a. m. (Atlanta, Georgia time)
      for delivery on the first day of such Interest Period, for the number of days
      comprised therein and in an amount comparable to the amount of the Eurodollar
      Loan of the Lender.

    

       “Loan”
shall
      mean a loan made by the Lender to the Borrower under the Facility, which may
      either be a Base Rate Loan or a Eurodollar Loan. 

     

    “Loan
      Documents”
shall
      mean, collectively, this Agreement, the Note, the LC Documents, any Hedging
      Agreement between the Borrower and the Lender in connection with the Facility
      and any and all other instruments, agreements, documents and writings executed
      in connection with any of the foregoing.

    

    “Material
      Adverse Effect”
shall
      mean, with respect to any event, act, condition or occurrence of whatever nature
      (including any adverse determination in any litigation, arbitration, or
      governmental investigation or proceeding), whether singly or in conjunction
      with
      any other event or events, act or acts, condition or conditions, occurrence
      or
      occurrences whether or not related, a material adverse change in, or a material
      adverse effect on, (i) the business, results of operations, financial
      condition, assets, liabilities or prospects of the Borrower or of the Borrower
      

     

    
      
        
        

      

      
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    and
      its
      Subsidiaries taken as a whole, (ii) the ability of the Borrower to perform
      any of its obligations under the Loan Documents, (iii) the rights and remedies
      of the Lender under any of the Loan Documents or (iv) the legality, validity
      or
      enforceability of any of the Loan Documents.

    

    “Note”
shall
      mean the Amended and Restated Demand Note of the Borrower payable to the order
      of the Lender in substantially the form of Exhibit
      B.

     

    “Obligations”
shall
      mean all amounts owing by the Borrower to the Lender pursuant to or in
      connection with this Agreement or any other Loan Document, including without
      limitation, all principal, interest (including any interest accruing after
      the
      filing of any petition in bankruptcy or the commencement of any insolvency,
      reorganization or like proceeding relating to the Borrower, whether or not
      a
      claim for post-filing or post-petition interest is allowed in such proceeding),
      all reimbursement obligations, fees, expenses, indemnification and reimbursement
      payments, costs and expenses (including all fees and expenses of counsel to
      the
      Lender incurred pursuant to this Agreement or any other Loan Document), whether
      direct or indirect, absolute or contingent, liquidated or unliquidated, now
      existing or hereafter arising hereunder or thereunder, together with all
      renewals, extensions, modifications or refinancings thereof.

    

    “Off-Balance
      Sheet Liabilities”
      of any
      Person shall mean (i) any repurchase obligation or liability of such Person
      with
      respect to accounts or notes receivable sold by such Person, (ii) any liability
      of such Person under any sale and leaseback transactions which do not create
      a
      liability on the balance sheet of such Person, (iii) any liability of such
      Person under any so-called “synthetic” lease transaction or (iv) any obligation
      arising with respect to any other transaction which is the functional equivalent
      of or takes the place of borrowing but which does not constitute a liability
      on
      the balance sheet of such Person.

    

    “Payment
      Office”
shall
      mean the office of the Lender located at 303 Peachtree Street, N.E., Atlanta,
      Georgia 30308, or such other location as to which the Lender shall have given
      written notice to the Borrower. 

    

    “Person”
shall
      mean any individual, partnership, firm, corporation, association, joint venture,
      limited liability company, trust or other entity, or any Governmental
      Authority.

    

    “Regulation D”
shall
      mean Regulation D of the Board of Governors of the Federal Reserve System,
      as the same may be in effect from time to time, and any successor
      regulations.

    

    “Requirement
      of Law”
for
      any
      Person shall mean the articles or certificate of incorporation and bylaws or
      other organizational or governing documents or such Person, and any law, treaty,
      rule or regulation, or determination of a Governmental Authority, in each case
      applicable to or binding upon such Person or any of its property or to which
      such Person or any of its property is subject.

    

    “Subsidiary”
shall
      mean, with respect to any Person (the “parent”),
      any
      corporation, partnership, joint venture, limited liability company, association
      or other entity the accounts of which would be consolidated with those of the
      parent in the parent’s consolidated 

     

    
      
        
        

      

      
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    financial
      statements if such financial statements were prepared in accordance with GAAP
      as
      of such date, as well as any other corporation, partnership, joint venture,
      limited liability company, association or other entity (i) of which securities
      or other ownership interests representing more than 50% of the equity or more
      than 50% of the ordinary voting power, or in the case of a partnership, more
      than 50% of the general partnership interests are, as of such date, owned,
      controlled or held, or (ii) that is, as of such date, otherwise controlled,
      by
      the parent or one or more subsidiaries of the parent or by the parent and one
      or
      more subsidiaries of the parent. Unless otherwise indicated, all references
      to
“Subsidiary” hereunder shall mean a Subsidiary of the Borrower.

    

    “Termination
      Date”
      shall
      mean the date on which the Lender makes demand on the Borrower for payment
      of
      all amounts outstanding under this Agreement.

    

    “Total
      Funded Debt to EBITDA Ratio”
      shall
      mean, as of any date of determination, the ratio of (i) Consolidated Total
      Funded Debt as of such date to (ii) Consolidated EBITDA measured for the four
      fiscal quarter period ending on or immediately prior to such date. 

    

    Section
      1.02  Accounting
      Terms and Determination.
      Unless
      otherwise defined or specified herein, all accounting terms used herein shall
      be
      interpreted, all accounting determinations hereunder shall be made, and all
      financial statements required to be delivered hereunder shall be prepared,
      in
      accordance with GAAP as in effect from time to time, applied on a basis
      consistent with the most recent audited consolidated financial statement of
      the
      Borrower.

     

    ARTICLE
      II.  

    

    AMOUNT
      AND TERMS OF THE FACILITY

    

    Section
      2.01  Loans
      and Note.
      (a)
      Upon
      receipt of a written request for a Loan hereunder in accordance with Section
      2.02, the Lender may in its sole discretion make such Loan to the Borrower;
      provided
      that the
      Lender shall have no obligation or commitment to make any Loan or to renew
      any
      Loan at the end of an applicable Interest Period, notwithstanding that the
      Lender may have previously renewed such Loan or any other Loan. If the Lender
      agrees to make the requested Loan, the Borrower may then elect either a
      Eurodollar Loan or a Base Rate Loan. 

    

    (b)    The
      Borrower’s obligation to pay the principal of, and interest on, the Loans shall
      be evidenced by the records of the Lender and by the Note. The entries made
      in
      such records and/or on the schedule annexed to the Note shall be prima
      facie evidence
      of the existence and amounts of the obligations of the Borrower therein
      recorded; provided,
      that
      the failure or delay of the Lender in maintaining or making entries into any
      such record or on such schedule or any error therein shall not in any manner
      affect the obligation of the Borrower to repay the Loans (both principal and
      unpaid accrued interest) in accordance with the terms of this Agreement.

    

    Section
      2.02  Procedure
      for Loans.
      The Borrower shall
      request a Loan from the Lender prior
      to
      10:00 a.m.,
      Atlanta, Georgia time, on the requested date
      of
      the borrowing
      in 

     

    
      
        
        

      

      
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    the
      case
      of a Base Rate Loan and two (2) Business Days prior to the date of borrowing
      in
      the case of a Eurodollar Loan.
      Such
      request shall include (i) the principal amount of such Loan and (ii) the
      duration of the Interest.Period (in the case of a Eurodollar Loan).

    

    Section
      2.03  Repayment
      of Loans.
      The
      outstanding principal amount of each Loan
      shall be due and payable (together
      with accrued and unpaid interest thereon) on the earlier of
      the last
      day of the Interest Period applicable to such Loan or ON DEMAND.

    

    Section
      2.04  Interest
      on Loans; Letter of Credit Fee.
      (a)
      The
      Loans shall accrue interest (i) in the case of a Eurodollar Loan, at
      the Adjusted
      LIBO Rate plus
      the
      Applicable Margin or (ii) in the case of Base Rate Loan, at the applicable
      Base
      Rate. The Borrower agrees to pay interest on the earlier of (A) ON DEMAND or
      (B)
      with respect to a Eurodollar Loan, on the last day of the applicable Interest
      Period (provided that if any Interest Period exceeds 3 months, then interest
      will be payable on the last day of the third month after the first day of such
      Interest Period, and on the last day of such Interest Period) or with respect
      to
      a Base Rate Loan, on the last day of each calendar month. Should a Default
      occur, the Borrower shall pay interest at a default rate of the interest rate
      then in effect plus two percent (2%) per annum.

    

    (b)    The
      Borrower
      agrees to pay a letter of credit fee on the face amount of each Letter of Credit
      equal to 0.50% per annum, payable in advance upon the issuance of such Letter
      of
      Credit and on each anniversary of such issuance.

    

    Section
      2.05  Computation
      of Interest. 
      All
      computations of interest hereunder shall be made on the basis of a year of
      360 days for the actual number of days (including the first day but
      excluding the last day) occurring in the period for which such interest or
      fees
      are payable (to the extent computed on the basis of days elapsed). Each
      determination by the Lender of an interest amount hereunder shall be made in
      good faith and, except for manifest error, shall be final, conclusive and
      binding for all purposes. 

    

    Section
      2.06  Increased
      Costs

    

    (a)    If
      any
      Change in Law shall:

    

    (i)  impose,
      modify or deem applicable any reserve, special deposit or similar requirement
      that is not otherwise included in the determination of the Adjusted
      LIBO Rate hereunder against assets of, deposits with or for the account of,
      or
      credit extended by, the Lender (except any such reserve requirement reflected
      in
      the Adjusted LIBO Rate); or 

     

    (ii)  impose
      on
      the Lender or the eurodollar interbank market any other condition affecting
      this
      Agreement or any Eurodollar Loans made by the Lender;

    

    and
      the
      result of the foregoing is to increase the cost to the Lender of making,
      continuing or maintaining a Eurodollar Loan or to increase the cost to the
      Lender of issuing any Letter of Credit or to reduce the amount received or
      receivable by the Lender hereunder (whether of 

     

    
      
        
        

      

      
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    principal,
      interest or any other amount), then the Borrower shall promptly pay, upon
      written notice from and demand by the Lender, within five Business Days after
      the date of such notice and demand, additional amount or amounts sufficient
      to
      compensate the Lender for such additional costs incurred or reduction suffered.
      

    

    (b)    If
      the
      Lender shall have determined that on or after the date of this Agreement any
      Change in Law regarding capital requirements has or would have the effect of
      reducing the rate of return on the Lender’s capital (or on the capital of the
      Lender’s parent corporation) as a consequence of its obligations hereunder or
      under or
      in
      respect of any Letter of Credit to a level below that which the Lender or the
      Lender’s parent corporation could have achieved but for such Change in Law
      (taking into consideration the Lender’s policies or the policies of the Lender’s
      parent corporation with respect to capital adequacy) then, from time to time,
      within five (5) Business Days after receipt by the Borrower of written demand
      by
      the Lender, the Borrower shall pay to the Lender such additional amounts as
      will
      compensate the Lender or the Lender’s parent corporation for any such reduction
      suffered. 

    

    (c)    A
      certificate of the Lender setting forth the amount or amounts necessary to
      compensate the Lender or its parent corporation, as the case may be, specified
      in paragraph (a) or (b) of this Section shall be delivered to the Borrower
      and
      shall be conclusive, absent manifest error. The Borrower shall pay the Lender
      such amount or amounts within 10 days after receipt thereof.

    

    (d)    Failure
      or delay on the part of the Lender to demand compensation pursuant to this
      Section shall not constitute a waiver of the Lender’s right to demand such
      compensation.

    

    Section
      2.07  Funding
      Indemnity.
      In
      the
      event of (a) the payment of any principal of a Eurodollar Loan other than on
      the
      last day of the Interest Period applicable thereto (including as a result of
      an
      Default) or (b) the failure by the Borrower to borrow any Eurodollar Loan on
      the
      date agreed upon in any applicable notice (regardless of whether such notice
      is
      withdrawn or revoked), then, in any such event, the Borrower shall compensate
      the Lender, within five (5) Business Days after written demand from the Lender,
      for any loss, cost or expense attributable to such event. Such loss, cost or
      expense shall be deemed to include an amount determined by the Lender to be
      the
      excess, if any, of (A) the amount of interest that would have accrued on the
      principal amount of such Eurodollar Loan if such event had not occurred at
      the
      Adjusted LIBO Rate applicable to such Eurodollar Loan for the period from the
      date of such event to the last day of the then current Interest Period therefor
      (or in the case of a failure to borrow, for the period that would have been
      the
      Interest Period for such Eurodollar Loan) over (B) the amount of interest that
      would accrue on the principal amount of such Eurodollar Loan for the same period
      if the Adjusted LIBO Rate were set on the date such Eurodollar Loan was prepaid
      or the date on which the Borrower failed to borrow such Eurodollar Loan. A
      certificate as to any additional amount payable under this Section 2.09
      submitted to the Borrower by the Lender shall be conclusive, absent manifest
      error.

    

    Section
      2.08  Payments
      Generally.
      The
      Borrower shall make each payment required to be made by it hereunder (whether
      of
      principal, interest, fees or reimbursement of LC 

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    Disbursements,
      or otherwise) prior to 12:00 noon (Atlanta, Georgia time), on the date when
      due,
      in immediately available funds, without set-off or counterclaim. Any amounts
      received after such time on any date may, in the discretion of the Lender,
      be
      deemed to have been received on the next succeeding Business Day for purposes
      of
      calculating interest thereon. All such payments shall be made to the Lender
      at
      its Payment Office. If any payment hereunder shall be due on a day that is
      not a
      Business Day, the date for payment shall be extended to the next succeeding
      Business Day, and, in the case of any payment accruing interest, interest
      thereon shall be made payable for the period of such extension. All payments
      hereunder shall be made in Dollars.

    

    Section
      2.09  Letters
      of Credit.

    

    (a)    At
      the
      request of the Borrower, the Lender may, in its sole discretion, issue Letters
      of Credit for the account of the Borrower on terms (including the expiration
      date) that are acceptable to the Lender in its sole discretion. Notwithstanding
      the foregoing, it is understood that Letters of Credit may only be issued for
      working capital, insurance-related or performance bond purposes. 

    

    (b)    To
      request the issuance of a Letter of Credit (or any amendment, renewal or
      extension of an outstanding Letter of Credit), the Borrower shall give the
      Lender irrevocable written notice at least three (3) Business Days prior to
      the
      requested date of such issuance specifying the date (which shall be a Business
      Day) such Letter of Credit is to be issued (or amended, extended or renewed,
      as
      the case may be), the expiration date of such Letter of Credit, the amount
      of
      such Letter of Credit, the name and address of the beneficiary thereof and
      such
      other information as shall be necessary to prepare, amend, renew or extend
      such
      Letter of Credit; provided, that the Borrower agrees that the Lender has no
      commitment or obligation to issue, renew or extend any Letter of Credit. In
      addition to the satisfaction of the conditions in Article III, the issuance
      of
      such Letter of Credit (or any amendment which increases the amount of such
      Letter of Credit) will be subject to the further conditions that such Letter
      of
      Credit shall be in such form and contain such terms as the Lender shall approve
      and that the Borrower shall have executed and delivered any additional
      applications, agreements and instruments relating to such Letter of Credit
      as
      the Lender shall reasonably require; provided,
      that in
      the event of any conflict between such applications, agreements or instruments
      and this Agreement, the terms of this Agreement shall control. 

    

    (c)    The
      Lender shall examine all documents purporting to represent a demand for payment
      under a Letter of Credit promptly following its receipt thereof. The Lender
      shall notify the Borrower of such demand for payment and whether the Lender
      has
      made or will make a LC Disbursement thereunder; provided,
      that
      any failure to give or delay in giving such notice shall not relieve the
      Borrower of its obligation to reimburse the Lender with respect to such LC
      Disbursement. The Borrower shall be irrevocably and unconditionally obligated
      to
      reimburse the Lender for any LC Disbursements paid by the Lender in respect
      of
      such drawing, without presentment, demand or other formalities of any
      kind.

    

    (d)    On
      the
      Termination Date, or if any Default shall occur and be continuing on the
      Business Day that the Borrower receives notice from the Lender demanding the
      deposit of 

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    cash
      collateral pursuant to this paragraph, the Borrower shall deposit in an account
      with the Lender, in the name of the Lender and for the benefit of the Lender,
      an
      amount in cash equal to the LC Exposure as of such date plus any accrued and
      unpaid interest thereon; provided,
      that
      the obligation to deposit such cash collateral shall become effective
      immediately, and such deposit shall become immediately due and payable, with
      demand or notice of any kind, upon the occurrence of a Default. Such deposit
      shall be held by the Lender as collateral for the payment and performance of
      the
      obligations of the Borrower under this Agreement. The Lender shall have
      exclusive dominion and control, including the exclusive right of withdrawal,
      over such account. The Lender may invest such deposits, which investments shall
      be made at the option and sole discretion of the Lender and at the Borrower’s
      risk and expense. Any portion of the deposits that is not invested shall be
      deposited into an interest-bearing demand deposit account by the Lender.
      Interest and profits, if any, on such investments shall accumulate in such
      account. Moneys in such account shall be applied by the Lender to reimburse
      itself for LC Disbursements for which it had not been reimbursed and to the
      extent so applied, shall be held for the satisfaction of the reimbursement
      obligations of the Borrower for the LC Exposure at such time or, if the maturity
      of the Loans has been accelerated, be applied to satisfy other obligations
      of
      the Borrower under this Agreement. 

    

    (e)    The
      Borrower’s obligation to reimburse LC Disbursements hereunder shall be absolute,
      unconditional and irrevocable and shall be performed strictly in accordance
      with
      the terms of this Agreement under all circumstances whatsoever and irrespective
      of any of the following circumstances:

    

    (i)  Any
      lack
      of validity or enforceability of any Letter of Credit or this
      Agreement;

    

    (ii)  The
      existence of any claim, set-off, defense or other right which the Borrower
      or
      any Subsidiary of the Borrower may have at any time against a 

    beneficiary
      or any transferee of any Letter of Credit (or any Persons or entities for whom
      any such beneficiary or transferee may be acting), the Lender or any other
      Person, whether in connection with this Agreement or the Letter of Credit or
      any
      document related hereto or thereto or any unrelated transaction; 

    

    (iii)  Any
      draft
      or other document presented under a Letter of Credit proving to be forged,
      fraudulent or invalid in any respect or any statement therein 

    being
      untrue or inaccurate in any respect;

    

    (iv)  Payment
      by the Lender under a Letter of Credit against presentation of a draft or other
      document to the Lender that does not comply with the terms of 

    such
      Letter of Credit;

    

    (v)  Any
      other
      event or circumstance whatsoever, whether or not similar to any of the
      foregoing, that might, but for the provisions of this Section, 

    constitute
      a legal or equitable discharge of, or provide a right of setoff against, the
      Borrower’s obligations hereunder; or

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

       

    

    (vi)  The
      existence of a Default.

    

    The
      Lender shall not have any liability or responsibility by reason of or in
      connection with the issuance or transfer of any Letter of Credit or any payment
      or failure to make any payment thereunder (irrespective of any of the
      circumstances referred to above), or any error, omission, interruption, loss
      or
      delay in transmission or delivery of any draft, notice or other communication
      under or relating to any Letter of Credit (including any document required
      to
      make a drawing thereunder), any error in interpretation of technical terms
      or
      any consequence arising from causes beyond the control of the Lender;
provided,
      that
      the foregoing shall not be construed to excuse the Lender from liability to
      the
      Borrower to the extent of any direct damages (as opposed to consequential
      damages, claims in respect of which are hereby waived by the Borrower to the
      extent permitted by applicable law) suffered by the Borrower that are caused
      by
      the Lender’s failure to exercise care when determining whether drafts or other
      documents presented under a Letter of Credit comply with the terms thereof.
      The
      parties hereto expressly agree, that in the absence of gross negligence or
      willful misconduct on the part of the Lender (as finally determined by a court
      of competent jurisdiction), the Lender shall be deemed to have exercised care
      in
      each such determination. In furtherance of the foregoing and without limiting
      the generality thereof, the parties agree that, with respect to documents
      presented that appear on their face to be in substantial compliance with the
      terms of a Letter of Credit, the Lender may, in its sole discretion, either
      accept and make payment upon such documents without responsibility for further
      investigation, regardless of any notice or information to the contrary, or
      refuse to accept and make payment upon such documents if such documents are
      not
      in strict compliance with the terms of such Letter of Credit.

    

    (f)    Each
      Letter of Credit shall be subject to the Uniform Customs and Practices for
      Documentary Credits (1993 Revision), International Chamber of Commerce
      Publication No. 500, as the same may be amended from time to time, and, to
      the
      extent not inconsistent therewith, the governing law of this Agreement set
      forth
      in Section
      3.07.

     

    ARTICLE
      III.  

    

    MISCELLANEOUS

    

    Section
      3.01  Conditions
      To Effectiveness.
      The
      Lender shall receive, prior to making
      the initial Loan and prior to issuing the initial Letter of Credit hereunder
      the
      following: (a) this Agreement and the Note duly executed by the Borrower,
      (b) in the case of a Letter of Credit, an application in form and substance
      satisfactory to the Lender and (c) certified board resolutions and an incumbency
      certificate in form and substance satisfactory to the Lender. In
      addition, prior to the making of any Loan or the issuance of any Letter of
      Credit the Borrower shall be deemed to have made the representations and
      warranties set forth in Section 3.02.

    

    Section
      3.02  Representations
      and Warranties.

    

    (a)    Existence;
      Power.
      The
      Borrower (i) is duly organized, validly existing and in good standing as a
      corporation under the laws of the jurisdiction of its organization,
      (ii) has all 

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

       

    

    requisite
      power and authority to carry on its business as now conducted, and (iii) is
      duly qualified to do business, and is in good standing, in each jurisdiction
      where such qualification is required, except where a failure to be so qualified
      could not reasonably be expected to result in a Material Adverse Effect.

    

    (b)    Organizational
      Power; Authorization.
      The
      execution, delivery and performance by the Borrower of the Loan Documents to
      which it is a party are within the Borrower’s organizational powers and have
      been duly authorized by all necessary organizational, and if required,
      stockholder, action. This Agreement has been duly executed and delivered by
      the
      Borrower, pursuant to a resolution of the board of directors of the Borrower,
      and constitutes, and each other Loan Document to which the Borrower is a party,
      when executed and delivered by the Borrower, will constitute, valid and binding
      obligations of the Borrower, enforceable against it in accordance with their
      respective terms, except as may be limited by applicable bankruptcy, insolvency,
      reorganization, moratorium, or similar laws affecting the enforcement of
      creditors’ rights generally and by general principles of equity.

    

    (c)    Governmental
      Approvals; No Conflicts.
      The
      execution, delivery and performance by the Borrower of this Agreement (a) do
      not
      require any consent or approval of, registration or filing with, or any action
      by, any Governmental Authority, except those as have been obtained or made
      and
      are in full force and effect or where the failure to do so, individually or
      in
      the aggregate, could not reasonably be expected to have a Material Adverse
      Effect, (b) will not violate any applicable law or regulation or the charter,
      by-laws or other organizational documents of the Borrower or any judgment or
      order of any Governmental Authority binding on the Borrower, and (c) will not
      violate or result in a default under any indenture, material agreement or other
      material instrument binding on the Borrower or any of its assets or give rise
      to
      a right thereunder to require any payment to be made by the
      Borrower.

    

    (d)    Compliance
      with Laws and Agreements.
      The
      Borrower is in compliance with (a) all applicable laws, rules, regulations
      and
      orders of any Governmental Authority, and (b) all indentures, agreements or
      other instruments binding upon it or its properties, except where noncompliance,
      either singly or in the aggregate, could not reasonably be expected to result
      in
      a Material Adverse Effect. 

    

    (e)    Investment
      Company Act, Etc.
      The
      Borrower is not (a) an “investment company”, as defined in, or subject to
      regulation under, the Investment Company Act of 1940, as amended, (b) a “holding
      company” as defined in, or subject to regulation under, the Public Utility
      Holding Company Act of 1935, as amended or (c) otherwise subject to any other
      regulatory scheme limiting its ability to incur debt.

    

    (f)    Taxes.
      The
      Borrower and each other Person for whose taxes the Borrower could become liable
      have timely filed or caused to be filed all Federal income tax returns and
      all
      other material tax returns that are required to be filed by them, and have
      paid
      all taxes shown to be due and payable on such returns or on any assessments
      made
      against it or its property and all other taxes, fees or other charges imposed
      on
      it or any of its property by any Governmental Authority, except (i) to the
      extent the failure to do so would not have a Material Adverse Effect or (ii)
      where the same are currently being contested in good faith by appropriate
      proceedings and 

     

    
      
        
        

      

      
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    for
      which
      the Borrower has set aside on its books adequate reserves. The charges, accruals
      and reserves on the books of the Borrower in respect of such taxes are adequate,
      and no tax liabilities that could be materially in excess of the amount so
      provided are anticipated.

    

    (g)    Disclosure.
      The
      Borrower has disclosed to the Lender all agreements, instruments, and corporate
      or other restrictions to which the Borrower is subject, and all other matters
      known to any of them, that, individually or in the aggregate, could reasonably
      be expected to result in a Material Adverse Effect. Neither the financial
      statements, certificates or other written information furnished by or on behalf
      of the Borrower to the Lender in connection with the negotiation of this
      Agreement or any other Loan Document or delivered hereunder or thereunder (as
      modified or supplemented by any other information so furnished) contains any
      material misstatement of fact or omits to state any material fact necessary
      to
      make the statements therein, taken as a whole, in light of the circumstances
      under which they were made, not misleading; provided, that with respect to
      projected financial information, the Borrower represents only that such
      information was prepared in good faith based upon assumptions believed to be
      reasonable at the time.

    

    Section
      3.03  Notices.

    

    (a)    Except
      in
      the case of notices and other communications expressly permitted to be given
      by
      telephone, all notices and other communications to any party herein to be
      effective shall be in writing and shall be delivered by hand or overnight
      courier service, mailed by certified or registered mail or sent by telecopy,
      as
      follows: 

     

    
      	        To
              the
              Borrower:	
              RPC, Inc.

            
	 	2170
              Piedmont Road, NE
              Atlanta,
                Georgia 30324

              Attention:
                Ben Palmer

              Telecopy
                Number: 404-321-5483

            
	 	 
	        To
              the
              Lender:	SunTrust Bank
	 	303 Peachtree Street, N.E., 3rd Floor
              Atlanta,
                Georgia 30308

              Attention:
                Brad Staples

              Telecopy
                Number: 404-588-8833

            

    

    
Any
      party
      hereto may change its address or telecopy number for notices and other
      communications hereunder by notice to the other parties hereto. All such notices
      and other communications shall, when transmitted by overnight delivery, or
      faxed, be effective when delivered for overnight (next-day) delivery, or
      transmitted in legible form by facsimile machine, respectively, or if mailed,
      upon the third Business Day after the date deposited into the mails or if
      delivered, upon delivery; provided,
      that
      notices delivered to the Lender shall not be effective until actually received
      by the Lender at its address specified in this Section.

     

    
      
        
        

      

      
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    (b)    Any
      agreement of the Lender herein to receive certain notices by telephone or
      facsimile is solely for the convenience and at the request of the Borrower.
      The
      Lender shall be entitled to rely on the authority of any Person purporting
      to be
      a Person authorized by the Borrower to give such notice and the Lender shall
      not
      have any liability to the Borrower or other Person on account of any action
      taken or not taken by the Lender in reliance upon such telephonic or facsimile
      notice. The obligation of the Borrower to repay the Loans and all other
      Obligations hereunder shall not be affected in any way or to any extent by
      any
      failure of the Lender to receive written confirmation of any telephonic or
      facsimile notice or the receipt by the Lender of a confirmation which is at
      variance with the terms understood by the Lender to be contained in any such
      telephonic or facsimile notice.

    

    Section
      3.04  Waiver;
      Amendments.

    

    (a)    No
      failure or delay by the Lender in exercising any right or power hereunder or
      under the Note, and no course of dealing between the Borrower and the
      Lender,
      shall
      operate as a waiver thereof, nor shall any single or partial exercise of any
      such right or power or any abandonment or discontinuance of steps to enforce
      such right or power, preclude any other or further exercise thereof or the
      exercise of any other right or power hereunder or thereunder. The rights and
      remedies of the Lender hereunder and under the Note are cumulative and are
      not
      exclusive of any rights or remedies provided by law. No waiver of any provision
      of this Agreement or the Note or consent to any departure by the Borrower
      therefrom shall in any event be effective unless the same shall be permitted
      by
      paragraph (b) of this Section, and then such waiver or consent shall be
      effective only in the specific instance and for the purpose for which given.
      Without limiting the generality of the foregoing, the making of a Loan or the
      issuance of a Letter of Credit shall not be construed as a waiver of any
      Default, regardless of whether the Lender may have had notice or knowledge
      of
      such Default at the time.

    

    (b)    No
      amendment or waiver of any provision of this Agreement or the other Loan
      Documents, nor consent to any departure by the Borrower therefrom, shall in
      any
      event be effective unless the same shall be in writing and signed by the
      Borrower and the Lender and then such waiver or consent shall be effective
      only
      in the specific instance and for the specific purpose for which
      given.

    

    Section
      3.05  Expenses;
      Indemnification.

    

    (a)    The
      Borrower shall pay (i) all reasonable, out-of-pocket costs and expenses of
      the
      Lender (including, without limitation, the reasonable fees, charges and
      disbursements of both outside and in-house counsel) in connection with the
      preparation and administration of the Loan Documents and any amendments,
      modifications or waivers thereof (whether or not the transactions contemplated
      in this Agreement or any other Loan Document shall be consummated), and (ii)
      all
      out-of-pocket costs and expenses (including, without limitation, the reasonable
      fees, charges and disbursements of both outside and in-house counsel) incurred
      by the Lender in connection with the enforcement or protection of its rights
      in
      connection with this Agreement, including its rights under this Section, or
      in
      connection with the Loans made or any Letters of Credit issued hereunder,
      including all such out-of-pocket expenses 

     

    
      
        
        

      

      
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    incurred
      during any workout, restructuring or negotiations in respect of such Loans
      or
      Letters of Credit.

    

    (b)    The
      Borrower shall indemnify the Lender and its directors, officers, employees,
      agents and advisors (each, an “Indemnitee”) against, and hold each of them
      harmless from, any and all costs, losses, liabilities, claims, damages and
      related expenses, including the fees, charges and disbursements of any counsel
      for the Lender, which may be incurred by or asserted against any
      Indemnitee arising
      out of, in connection with or as a result of (i) the execution or delivery
      of
      this Agreement or any other agreement or instrument contemplated hereby, the
      performance by the parties hereto of their respective obligations hereunder
      or
      the consummation of any of the transactions contemplated hereby or (ii) any
      Loan
      or Letter of Credit or any actual or proposed use of the proceeds therefrom
      (including any refusal by the Lender to honor a demand for payment under a
      Letter of Credit if the documents presented in connection with such demand
      do
      not strictly comply with the terms of such Letter of Credit); provided,
      that
      the Borrower shall not be obligated to indemnify any Indemnitee for any of
      the
      foregoing arising out of the Indemnitee’s gross negligence or willful misconduct
      as determined by a court of competent jurisdiction in a final and nonappealable
      judgment.

    

    (c)    The
      Borrower shall pay, and hold the Lender harmless from and against, any and
      all
      present and future stamp, documentary, and other similar taxes with respect
      to
      this Agreement and any other Loan Documents, any collateral described therein,
      or any payments due thereunder, and save the Lender harmless from and against
      any and all liabilities with respect to or resulting from any delay or omission
      to pay such taxes. 

    

    (d)    To
      the
      extent permitted by applicable law, the Borrower shall not assert, and hereby
      waives, any claim against Lender, on any theory of liability, for special,
      indirect, consequential or punitive damages (as opposed to actual or direct
      damages) arising out of, in connection with or as a result of, this Agreement
      or
      any agreement or instrument contemplated hereby, the transactions contemplated
      therein, any Loan or the Letter of Credit or the use of proceeds
      thereof.

    

    (e)    All
      amounts due under this Section shall be payable promptly after written demand
      therefor.

    

    Section
      3.06  Successors
      and Assigns.
      The
      provisions of this Agreement shall be
      binding upon and inure to the benefit of the parties hereto and their
      respective successors
      and assigns,
      except that the Borrower may not assign or transfer any of its rights
      hereunder without the
      prior
      written consent of the Lender (and any attempted assignment or transfer by
      the
      Borrower without such consent shall be null and void).

    

    Section
      3.07  Governing
      Law; Jurisdiction; Consent to Service of Process.

    

    (a)    THIS
      AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE CONSTRUED IN ACCORDANCE WITH
      AND
      BE GOVERNED BY THE LAW (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES
      THEREOF) OF THE STATE OF GEORGIA. 

     

    
      
        
        

      

      
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    (b)    The
      Borrower hereby irrevocably and unconditionally submits, for itself and its
      property, to the nonexclusive jurisdiction of the United States District Court
      of the Northern District of Georgia, and of any state court of the State of
      Georgia located in Fulton County and any appellate court from any thereof,
      in
      any action or proceeding arising out of or relating to this Agreement or any
      other Loan Document or the transactions contemplated hereby or thereby, or
      for
      recognition or enforcement of any judgment, and each of the parties hereto
      hereby irrevocably and unconditionally agrees that all claims in respect of
      any
      such action or proceeding may be heard and determined in such Georgia state
      court or, to the extent permitted by applicable law, such Federal court. Each
      of
      the parties hereto agrees that a final judgment in any such action or proceeding
      shall be conclusive and may be enforced in other jurisdictions by suit on the
      judgment or in any other manner provided by law. Nothing in this Agreement
      or
      any other Loan Document shall affect any right that the Lender may otherwise
      have to bring any action or proceeding relating to this Agreement or any other
      Loan Document against the Borrower or its properties in the courts of any
      jurisdiction.

    

    (c)    The
      Borrower irrevocably and unconditionally waives any objection which it
      may now or hereafter have to the laying of venue of any such suit, action
      or proceeding described in paragraph (b) of this Section and brought in any
      court referred to in paragraph (b) of this Section. Each of the parties hereto
      irrevocably waives, to the fullest extent permitted by applicable law, the
      defense of an inconvenient forum to the maintenance of such action or proceeding
      in any such court.

    

    (d)    Each
      party to this Agreement irrevocably consents to the service of process in the
      manner provided for notices in Section
      3.03.
      Nothing
      in this Agreement or in any other Loan Document will affect the right of any
      party hereto to serve process in any other manner permitted by law.

    

    Section
      3.08  WAIVER
      OF JURY TRIAL.
      EACH
      PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
      LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY
      OR INDIRECTLY ARISING OUT OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE
      TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT
      OR
      ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
      AGENT
      OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
      SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
      FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO
      HAVE
      BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY,
      AMONG
      OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
      SECTION.

    

    Section
      3.09  Right
      of Setoff.
      In
      addition to any rights now or hereafter granted under applicable law and not
      by
      way of limitation of any such rights, the Lender shall have the right, at any
      time or from time to time upon the occurrence and during the continuance of
      a

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

       

    

    Default,
      without prior notice to the Borrower, any such notice being expressly waived
      by
      the Borrower to the extent permitted by applicable law, to set off and apply
      against all deposits (general or special, time or demand, provisional or final)
      of the Borrower at any time held or other obligations at any time owing by
      the
      Lender to or for the credit or the account of the Borrower against any and
      all
      Obligations held by the Lender, irrespective of whether the Lender shall have
      made demand hereunder and although such Obligations may be unmatured. The Lender
      agrees promptly to notify the Borrower after any such set-off and any
      application made by the Lender; provided,
      that
      the failure to give such notice shall not affect the validity of such set-off
      and application. 

    

    Section
      3.10  Counterparts;
      Integration.
      This
      Agreement may be executed by one or more of the parties to this Agreement on
      any
      number of separate counterparts (including by telecopy), and all of said
      counterparts taken together shall be deemed to constitute one and the same
      instrument. This Agreement and the other Loan Documents constitute the entire
      agreement among the parties hereto and thereto regarding the subject matters
      hereof and thereof and supersede all prior agreements and understandings, oral
      or written, regarding such subject matters.

    

    Section
      3.11  Survival.
      All
      covenants, agreements, representations and warranties made by the Borrower
      herein and in the certificates or other instruments delivered in connection
      with
      or pursuant to this Agreement shall be considered to have been relied upon
      by
      the other parties hereto and shall survive the execution and delivery of this
      Agreement and the making of any Loans and issuance of any Letters of Credit,
      regardless of any investigation made by any such other party or on its behalf
      and notwithstanding that the Lender may have had notice or knowledge of any
      Default or incorrect representation or warranty at the time any credit is
      extended hereunder, and shall continue in full force and effect as long as
      the
      principal of or any accrued interest on any Loan or any fee or any other amount
      payable under this Agreement is outstanding and unpaid or any Letter of Credit
      is outstanding and so long as the Commitment has not expired or terminated.
      The
      provisions of Sections
      2.12,
      2.13,
      and
3.03
      shall
      survive and remain in full force and effect regardless of the consummation
      of
      the transactions contemplated hereby, the repayment of the Loans, the expiration
      or termination of the Letters of Credit and the Commitments or the termination
      of this Agreement or any provision hereof. All representations and warranties
      made herein, in the certificates, reports, notices, and other documents
      delivered pursuant to this Agreement shall survive the execution and delivery
      of
      this Agreement and the other Loan Documents, and the making of the
      Loans.

    

    Section
      3.12  Severability.
      Any
      provision of this Agreement or any other Loan Document held to be illegal,
      invalid or unenforceable in any jurisdiction, shall, as to such jurisdiction,
      be
      ineffective to the extent of such illegality, invalidity or unenforceability
      without affecting the legality, validity or enforceability of the remaining
      provisions hereof or thereof; and the illegality, invalidity or unenforceability
      of a particular provision in a particular jurisdiction shall not invalidate
      or
      render unenforceable such provision in any other jurisdiction.

    

    Section
      3.13  Interest
      Rate Limitation.
      Notwithstanding
      anything herein to the contrary, if at any time the interest rate applicable
      to
      any Loan, together with all fees, charges and other amounts which may be treated
      as interest on such Loan under applicable law 

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

       

    

    (collectively,
      the “Charges”),
      shall
      exceed the maximum lawful rate of interest (the “Maximum
      Rate”)
      which
      may be contracted for, charged, taken, received or reserved by the Lender in
      accordance with applicable law, the rate of interest payable in respect of
      such
      Loan hereunder, together with all Charges payable in respect thereof, shall
      be
      limited to the Maximum Rate and, to the extent lawful, the interest and Charges
      that would have been payable in respect of such Loan but were not payable as
      a
      result of the operation of this Section shall be cumulated and the interest
      and
      Charges payable to such Lender in respect of other Loans or periods shall be
      increased (but not above the Maximum Rate therefor) until such cumulated amount,
      together with interest thereon at the Federal Funds Rate to the date of
      repayment, shall have been received by the Lender.

    

    Section
      3.14. No
      Novation.
      This
      Agreement merely amends, modifies and restates the indebtedness, liabilities
      and
      obligations evidenced by the Original Agreement and does not constitute, and
      it
      is the express intent of the Borrower and the Lender that this Agreement does
      not effect, a novation of the existing indebtedness, liabilities, and
      obligations incurred by the Borrower pursuant to the Original Agreement. Such
      indebtedness, liabilities and obligations continue to remain outstanding and
      are
      amended and modified only to the extent this Agreement amends and modifies
      the
      Original Agreement.

    

    Section
      3.15. Patriot
      Act.
      The
      Lender hereby notifies the Borrower that pursuant to the requirements of the
      USA
      PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
      (the “Patriot Act”), it is required to obtain, verify and record information
      that identifies the Borrower, which information includes the name and address
      of
      the Borrower and other information that will allow the Lender to identify the
      Borrower in accordance with the Patriot Act. The Borrower shall, and shall
      cause
      each of its Subsidiaries to, provide to the extent commercially reasonable,
      such
      information and take such other actions as are reasonably requested by the
      Lender in order to assist the Lender in maintaining compliance with the Patriot
      Act.

    
 

    [Signatures
      on Following Page]

     

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have caused this Agreement to be duly executed under seal in
      the
      case of the Borrower by their respective authorized officers as of the day
      and
      year first above written.

     

    
      	 	RPC, INC.
	 	 
	 	By: /s/ BEN M. PALMER 
	 	
              Ben
                M. Palmer

              Vice
                President, Chief Financial Officer,

              and
                Treasurer

            
	 	 
	 	[SEAL]
	 	 
	 	SUNTRUST BANK
	 	 
	 	By: /s/ STACY M. LEWIS
	 	
              Stacy
                M. Lewis

              Vice
                President, Corporate and Investment
                Banking

            

    

    

 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    EXHIBIT
      A

    

    PRICING
      GRID

    

    
      	
              Total
                Funded Debt to EBITDA

            	
              Less
                than 0.75:1

            	
              Greater
                than or equal to 0.75:1,  and
                less than 1.50:1

            	
              1.50:1
                or greater

            
	
              LIBOR
                Margin

            	
              0.875%

            	
              1.25%

            	
              1.50%

            

    

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    

    AMENDED
      AND RESTATED DEMAND NOTE

     

    
      
        	Atlanta, Georgia	
                March
                  10, 2006

              

      

    

     

    FOR
      VALUE RECEIVED,
      the
      undersigned,
      RPC, INC., a
      Delaware corporation with an address of 2170 Piedmont Road, NE, Atlanta, Georgia
      30324 (the “Borrower”),
      promises to pay to the order of
      SUNTRUST BANK, a
      Georgia
      banking corporation (“Lender”;
      Lender, together with any other holder hereof, sometimes referred to herein
      as
      the “Holder”),
      the
      principal sum of
      FIFTY MILLION AND NO/100 DOLLARS ($50,000,000.00) or
      so
      much thereof as may be from time to time disbursed hereunder, together with
      accrued interest on the unpaid principal balance hereof as hereafter provided,
      in lawful money of the United States of America, ON
      DEMAND
      in
      accordance with the terms and conditions of that certain Amended and Restated
      Revolving Credit Agreement, dated as of March 10, 2006, by and between the
      Borrower and the Lender (the “Credit
      Agreement”;
      terms
      capitalized but not otherwise defined herein shall have the meanings assigned
      to
      them in the Credit Agreement). 

    

    This
      Note
      shall immediately become due and payable, without notice or demand, upon the
      filing of any petition or the commencement of any proceeding by or against
      the
      Borrower for relief under bankruptcy or insolvency laws, or any law relating
      to
      the relief of debtors, readjustment or indebtedness, debtor reorganization,
      or
      composition or extension of debt.

    

    The
      failure or forbearance of the Holder to exercise any right hereunder, or
      otherwise granted by law or another agreement, shall not affect or release
      the
      liability of the Borrower, and shall not constitute a waiver of such right
      unless so stated by the Holder in writing. The Borrower agrees that the Holder
      shall have no responsibility for the collection or protection of any property
      securing this Note, and expressly consents that the Holder may from time to
      time, without notice, waive its rights with respect to any property or
      indebtedness, and release any guarantor or other obligor from liability, without
      releasing the Borrower from any liability to the Holder. 

    

    Should
      legal action or an attorney at law be utilized to collect any amount due
      hereunder, the Borrower promises to pay all costs of collection, including
      reasonable attorneys’ fees. 

    

    This
      Note
      is issued in accordance with, and is entitled to the benefits of, the Credit
      Agreement. THIS NOTE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
      IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF GEORGIA, WITHOUT REGARD
      TO
      CONFLICTS OF LAW PRINCIPLES. This Note and all powers of attorney executed
      in
      connection herewith constitute the entire 

     

    
      
        
        

      

      
        B-1

        
          

        

      

      
        
        

      

    

     

    understanding
      among the parties hereto with respect to the subject matter hereof and supersede
      any prior agreements, written or oral, with respect thereto.

    

    This
      Note
      amends, modifies and restates the indebtedness, liabilities and obligations
      evidenced by that certain Demand Note dated March 19, 2003 (the “Original Note”)
      and in addition, increases the principal amount of the Original Note, but does
      not constitute, and it is the express intent of the Borrower and the Lender
      that
      this Note does not effect, a novation of the existing indebtedness, liabilities,
      and obligations incurred by the Borrower pursuant to the Original Note. Such
      indebtedness, liabilities and obligations continue to remain outstanding and
      are
      amended and modified only to the extent this Note amends, modifies and increases
      the amount of the Original Note.

    

    PRESENTMENT
      AND NOTICE OF DISHONOR ARE HEREBY WAIVED BY THE BORROWER.

    

    Execution
      under hand and seal on the date set forth above.

     

    
      	 	RPC,
              INC.
	 	 
	 	By: /s/ BEN M. PALMER
	 	
              Ben
                M. Palmer

              Vice
                President, Chief Financial Officer, and Treasurer

            
	 	 

                              [SEAL]    

            

    

    

    

     

    B-2Exhibit 10.15E

    
      

    

    EXHIBIT
      10.15E

     

    FIFTH
      AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

     

    THIS
      AMENDMENT
      (this
“Amendment”) is dated as of January 3, 2006, between Theragenics Corporation, a
      Delaware corporation (the “Company”) and Bruce W. Smith (the
“Employee”).

     

    INTRODUCTION

     

    The
      Company and the Employee entered into that certain executive employment
      agreement dated January 1, 1999, amendment to executive employment agreement
      dated June 29, 1999, second amendment to executive employment agreement dated
      June 15, 2001, third amendment to executive employment agreement dated September
      3, 2002 and fourth amendment to executive employment agreement dated May 28,
      2003 (herein collectively referred to as the “Executive Employment Agreement”).
      The parties hereto now desire to clarify that the severance provisions in
      Section 4(e) and Section 4(f) are mutually exclusive provisions, and desire
      to
      amend the Executive Employment Agreement to require a six-month delay in the
      severance payments, but only to the extent required to avoid the Employee having
      a tax problem under Section 409A of the Internal Revenue Code. 

     

    NOW,
      THEREFORE,
      the
      parties agree and acknowledge that Section 4(e) of the Executive Employment
      Agreement does not apply under circumstances in which Section 4(f) applies
      and
      agree that Section 4(e) and Section 4(f) are each amended by adding the
      following to the end thereof:

     

    “Notwithstanding
      the foregoing, if the payment of severance hereunder would fail to meet the
      requirements of Section 409A(a)(1) of the Internal Revenue Code, no payment
      hereunder shall be made until six months after the Employee’s termination of
      employment, at which time the Employee shall be paid a lump sum equal to what
      would otherwise have been the first six months’ of such payments, and thereafter
      payment of the unpaid balance shall continue on what would otherwise have been
      the original payment schedule for such unpaid balance.”

     

    Except
      as
      specifically amended hereby, the Employment Agreement shall remain in full
      force
      and effect as prior to this Amendment. 

     

    IN
      WITNESS WHEREOF,
      the
      Company and the Employee have each executed and delivered this Amendment as
      of
      the date first shown above.

     

    
      	
              THE
                COMPANY:

               

              THERAGENICS
                CORPORATION

               

               

              By:
                /s/ Francis
                J. Tarallo

              Title:
                Chief
                Financial Officer

               

            	
              THE
                EMPLOYEE:

               

              Bruce
                W. Smith

               

              By:
                /s/
                Bruce W. Smith

              Title:
                Executive
                V/P

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