Document:

EX-4.25

 

Exhibit 4.25

 

CREDIT AGREEMENT

dated as of

January 12, 2007,

among

VOLNAY ACQUISITION CO. I,

COMPAGNIE GÉNÉRALE DE GÉOPHYSIQUE,

THE LENDERS PARTY HERETO

and

CREDIT SUISSE,

as Administrative Agent and Collateral Agent,

 

CREDIT SUISSE SECURITIES (USA) LLC,

as Bookrunner

CREDIT SUISSE SECURITIES (USA) LLC and

ROYAL BANK OF CANADA,

as Joint Lead Arrangers

NATIXIS,

BNP PARIBAS,

SOCIÉTÉ GÉNÉRALE,

CRÉDIT INDUSTRIEL ET COMMERCIAL and

CALYON,

as Co-Arrangers and Co-Documentation Agents

ROYAL BANK OF CANADA,

as Syndication Agent

 

 

Table of Contents

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE I

	 
	Definitions
	 	 	 	 
	 
	 	 	 	 
	SECTION 1.01. Defined Terms
	 	 	2	 
	SECTION 1.02. Terms Generally
	 	 	38	 
	SECTION 1.03. Classification of Loans and Borrowings
	 	 	39	 
	SECTION 1.04. Intercreditor Agreement
	 	 	39	 
	 
	 	 	 	 
	ARTICLE II

	 
	The Credits

	 
	 	 	 	 
	SECTION 2.01. Commitments
	 	 	39	 
	SECTION 2.02. Loans
	 	 	40	 
	SECTION 2.03. Borrowing Procedure
	 	 	42	 
	SECTION 2.04. Evidence of Debt; Repayment of Loans
	 	 	42	 
	SECTION 2.05. Fees
	 	 	43	 
	SECTION 2.06. Interest on Loans
	 	 	44	 
	SECTION 2.07. Default Interest
	 	 	45	 
	SECTION 2.08. Alternate Rate of Interest
	 	 	45	 
	SECTION 2.09. Termination and Reduction of Commitments
	 	 	45	 
	SECTION 2.10. Conversion and Continuation of Borrowings
	 	 	46	 
	SECTION 2.11. Repayment of Term Borrowings
	 	 	47	 
	SECTION 2.12. Optional Prepayment
	 	 	49	 
	SECTION 2.13. Mandatory Prepayments
	 	 	49	 
	SECTION 2.14. Reserve Requirements; Change in Circumstances
	 	 	51	 
	SECTION 2.15. Change in Legality
	 	 	52	 
	SECTION 2.16. Indemnity
	 	 	53	 
	SECTION 2.17. Pro Rata Treatment
	 	 	53	 
	SECTION 2.18. Sharing of Setoffs
	 	 	54	 
	SECTION 2.19. Payments
	 	 	54	 
	SECTION 2.20. Taxes
	 	 	55	 
	SECTION 2.21. Assignment of Commitments Under Certain
Circumstances; Duty to Mitigate 
	 	 	56	 
	SECTION 2.22. Swingline Loans
	 	 	57	 
	SECTION 2.23. Letters of Credit
	 	 	59	 
	SECTION 2.24. Incremental Commitments
	 	 	63	 

 

i

 

Table of Contents
(continued)

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE III

	 
	Representations and Warranties

	 
	 	 	 	 
	SECTION 3.01. Status
	 	 	65	 
	SECTION 3.02. Binding Obligations
	 	 	65	 
	SECTION 3.03. Non-Conflict with Other Obligations
	 	 	65	 
	SECTION 3.04. Power and Authority
	 	 	66	 
	SECTION 3.05. Validity and Admissibility in Evidence
	 	 	66	 
	SECTION 3.06. Governing Law and Enforcement
	 	 	66	 
	SECTION 3.07. Solvency
	 	 	66	 
	SECTION 3.08. No Filing or Stamp Taxes
	 	 	67	 
	SECTION 3.09. Deduction of Tax
	 	 	67	 
	SECTION 3.10. No Default
	 	 	67	 
	SECTION 3.11. Federal Reserve Regulations
	 	 	67	 
	SECTION 3.12. Investment Company Act
	 	 	67	 
	SECTION 3.13. ERISA
	 	 	68	 
	SECTION 3.14. Use of Proceeds
	 	 	68	 
	SECTION 3.15. No Misleading Information
	 	 	68	 
	SECTION 3.16. Original Financial Statements
	 	 	69	 
	SECTION 3.17. No Proceedings Pending or Threatened
	 	 	69	 
	SECTION 3.18. No Breach of Laws
	 	 	69	 
	SECTION 3.19. Environmental Laws
	 	 	70	 
	SECTION 3.20. Taxation
	 	 	70	 
	SECTION 3.21. Security and Financial Indebtedness
	 	 	70	 
	SECTION 3.22. Ranking
	 	 	70	 
	SECTION 3.23. Good Title to Assets
	 	 	70	 
	SECTION 3.24. Sanctioned Persons
	 	 	71	 
	SECTION 3.25. Legal and Beneficial Ownership
	 	 	71	 
	SECTION 3.26. Shares
	 	 	71	 
	SECTION 3.27. Intellectual Property
	 	 	71	 
	SECTION 3.28. Accounting Reference Date
	 	 	71	 
	SECTION 3.29. Centre of Main Interests and Establishments
	 	 	71	 
	 
	 	 	 	 
	ARTICLE IV

	 
	Conditions of Lending

	 
	 	 	 	 
	SECTION 4.01. All Credit Events
	 	 	72	 
	SECTION 4.02. First Credit Event
	 	 	72	 

ii

 

Table of Contents
(continued)

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE V

	 
	Affirmative Covenants

	 
	 	 	 	 
	SECTION 5.01. Financial Statements
	 	 	76	 
	SECTION 5.02. Provision and Contents of Compliance Certificate
	 	 	76	 
	SECTION 5.03. Requirements as to Financial Statements
	 	 	76	 
	SECTION 5.04. Presentations
	 	 	77	 
	SECTION 5.05. Information; Miscellaneous
	 	 	77	 
	SECTION 5.06. Notification of Default
	 	 	78	 
	SECTION 5.07. “Know Your Customer” Checks
	 	 	78	 
	SECTION 5.08. Authorizations
	 	 	79	 
	SECTION 5.09. Compliance with Laws
	 	 	79	 
	SECTION 5.10. Environmental Compliance
	 	 	79	 
	SECTION 5.11. Environmental Claims
	 	 	80	 
	SECTION 5.12. Taxation
	 	 	80	 
	SECTION 5.13. Preservation of Assets
	 	 	80	 
	SECTION 5.14. Pari Passu Ranking
	 	 	80	 
	SECTION 5.15. Merger Documents
	 	 	80	 
	SECTION 5.16. Insurance
	 	 	81	 
	SECTION 5.17. Pensions
	 	 	81	 
	SECTION 5.18. Access
	 	 	81	 
	SECTION 5.19. Intellectual Property
	 	 	81	 
	SECTION 5.20. Financial Assistance
	 	 	82	 
	SECTION 5.21. Further Assurance
	 	 	82	 
	SECTION 5.22. Interest Rate Protection
	 	 	83	 
	SECTION 5.23. Maintenance of Ratings
	 	 	83	 
	 
	 	 	 	 
	ARTICLE VI

	 
	Negative Covenants

	SECTION 6.01. Year-end
	 	 	83	 
	SECTION 6.02. Financial Covenants
	 	 	83	 
	SECTION 6.03. Merger
	 	 	85	 
	SECTION 6.04. Change of Business
	 	 	85	 
	SECTION 6.05. Acquisitions
	 	 	85	 
	SECTION 6.06. Joint Ventures and Investments
	 	 	86	 
	SECTION 6.07. Negative Pledge
	 	 	86	 
	SECTION 6.08. Disposals
	 	 	86	 
	SECTION 6.09. Arm’s Length Basis
	 	 	86	 
	SECTION 6.10. Loans or Credit
	 	 	87	 
	SECTION 6.11. No Guarantees or Indemnities
	 	 	87	 

iii

 

Table of Contents
(continued)

	 	 	 	 	 
	 	 	 	Page	 
	SECTION 6.12. Dividends and Share Redemption
	 	 	88	 
	SECTION 6.13. Financial Indebtedness
	 	 	89	 
	SECTION 6.14. Share Capital
	 	 	89	 
	SECTION 6.15. Amendments
	 	 	89	 
	SECTION 6.16. Treasury Transactions
	 	 	89	 
	 
	 	 	 	 
	ARTICLE VII

	 
	Events of Default

	 
	ARTICLE VIII

	 
	The Administrative Agent and the Collateral Agent

	 
	 	 	 	 
	ARTICLE IX

	 
	Miscellaneous

	 
	 	 	 	 
	SECTION 9.01. Notices
	 	 	95	 
	SECTION 9.02. Survival of Agreement
	 	 	96	 
	SECTION 9.03. Binding Effect
	 	 	96	 
	SECTION 9.04. Successors and Assigns
	 	 	96	 
	SECTION 9.05. Expenses; Indemnity
	 	 	101	 
	SECTION 9.06. Right of Setoff
	 	 	102	 
	SECTION 9.07. Applicable Law
	 	 	102	 
	SECTION 9.08. Waivers; Amendment
	 	 	103	 
	SECTION 9.09. Interest Rate Limitation
	 	 	104	 
	SECTION 9.10. Entire Agreement
	 	 	104	 
	SECTION 9.11. WAIVER OF JURY TRIAL
	 	 	104	 
	SECTION 9.12. Severability
	 	 	105	 
	SECTION 9.13. Counterparts
	 	 	105	 
	SECTION 9.14. Headings
	 	 	105	 
	SECTION 9.15. Jurisdiction; Consent to Service of Process
	 	 	105	 
	SECTION 9.16. Confidentiality
	 	 	106	 
	SECTION 9.17. USA PATRIOT Act Notice
	 	 	107	 

iv

 

SCHEDULES

	 	 	 	 	 
	Schedule 1.01(a)

	 	-
	 	Existing Letters of Credit
	Schedule 1.01(b)

	 	-
	 	Original Guarantors
	Schedule 1.01(c)

	 	-
	 	Mortgaged Property
	Schedule 1.01(d)

	 	-
	 	Existing Financial Indebtedness
	Schedule 1.01(e)

	 	-
	 	Existing Security
	Schedule 1.01(f)

	 	-
	 	Joint Ventures
	Schedule 1.01(g)

	 	-
	 	Potential Disposals
	Schedule 2.01

	 	-
	 	Lenders and Commitments
	Schedule 3.26

	 	-
	 	Restrictions on Share Transfer
	Schedule 4.02(a)

	 	-
	 	Local Counsel
	Schedule 4.02(g)

	 	-
	 	Security Filing Offices
	Schedule 4.02(h)

	 	-
	 	Mortgage Filing Offices
	EXHIBITS
	 	 	 	 
	Exhibit A

	 	-
	 	Form of Administrative Questionnaire
	Exhibit B

	 	-
	 	Form of Assignment and Acceptance
	Exhibit C

	 	-
	 	Form of Borrowing Request
	Exhibit D

	 	-
	 	Form of Guarantee Agreement
	Exhibit E

	 	-
	 	Form of Guarantee Agreement (Norway)
	Exhibit F

	 	-
	 	Form of Pledge and Security Agreement (Canada)
	Exhibit G

	 	-
	 	Form of Pledge and Security Agreement (U.S.)
	Exhibit H

	 	-
	 	Form of Share Pledge Agreement
	Exhibit I

	 	-
	 	Form of Intercreditor Agreement
	Exhibit J-1

	 	-
	 	Form of Opinion of Linklaters (New York)
	Exhibit J-2

	 	-
	 	Form of Local Counsel Opinion
	Exhibit K

	 	-
	 	Form of Compliance Certificate

i

 

     CREDIT AGREEMENT dated as of January 12, 2007, among VOLNAY
ACQUISITION CO. I, a Delaware corporation (the “Borrower”), COMPAGNIE
GÉNÉRALE DE GÉOPHYSIQUE, a société anonyme incorporated under the laws of
France (registration number 969 202 241 RCS Evry) (“Parent”), the Lenders
(as defined in Article I) and CREDIT SUISSE, as administrative agent (in
such capacity, the “Administrative Agent”) and as collateral agent (in
such capacity, the “Collateral Agent”) for the Lenders.

     Pursuant to the Merger Agreement (such term and each other capitalized term used but not
defined in this introductory statement having the meaning given it in Article I), the Borrower will
merge with and into Veritas DGC Inc., a Delaware corporation (the “Target”), and the surviving
corporation will merge with and into Volnay Acquisition Co. II, a Delaware corporation (“Merger
Sub”) (such transactions, collectively, the “Merger”), with (a) each share of common stock of the
Target issued and outstanding (with certain exceptions as set forth in the Merger Agreement)
immediately prior to the Effective Time (as defined in the Merger Agreement) being converted into
the right to receive either 2.0097 American Depositary Shares of Parent or $85.50 in cash (the
"Merger Consideration”), subject to dissenters’ rights, (b) Merger Sub surviving as a wholly owned
Subsidiary of Parent and (c) Merger Sub assuming by operation of law all of the Obligations of the
Borrower under this Agreement and the other Finance Documents.

     The Borrower has requested the Lenders to extend credit in the form of (a) Term Loans on the
Closing Date, in an aggregate principal amount not in excess of $1,000,000,000, and (b) Revolving
Loans at any time and from time to time prior to the Revolving Credit Maturity Date, in an
aggregate principal amount at any time outstanding not in excess of $115,000,000 (as such amount
may be increased as provided herein). The Borrower has requested the Swingline Lender to extend
credit, at any time and from time to time prior to the Revolving Credit Maturity Date, in the form
of Swingline Loans, in an aggregate principal amount at any time outstanding not in excess of
$25,000,000. The Borrower has requested the Issuing Bank to issue Letters of Credit, in an
aggregate face amount at any time outstanding not in excess of $75,000,000, to support payment
obligations incurred in the ordinary course of business by the Borrower and the other Subsidiaries.
The proceeds of the Term Loans are to be used, together with the proceeds of the Bridge Facility,
solely (a) to pay the cash component of the Merger Consideration, (b) to pay all amounts due or
outstanding under the Existing Credit Agreement and the Existing Target Credit Agreement, (c) to
repurchase Parent’s common or perpetual preferred Equity Interests (including, without limitation,
Parent’s American Depositary Shares) as permitted under Section 6.12(b)(vii), (d) to make cash
payments to the holders of the Target Convertible Notes as permitted under Section 6.12(b)(viii)
and (e) to pay related fees and expenses. The proceeds of the Revolving Loans and the Swingline
Loans are to be used solely for general corporate purposes of the Borrower and the other
Subsidiaries.

 

2

     The Lenders are willing to extend such credit to the Borrower, and the Issuing Bank is willing
to issue Letters of Credit for the account of the Borrower, in each case on the terms and subject
to the conditions set forth herein. Accordingly, the parties hereto agree as follows:

ARTICLE I

Definitions

     SECTION 1.01. Defined Terms. As used in this Agreement, the following terms shall have the
meanings specified below:

     “ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the
Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the
Alternate Base Rate.

     “Acceptable Bank” shall mean (a) a bank or financial institution which has a rating for its
long-term unsecured and non credit-enhanced debt obligations of A- or higher by S&P or Fitch
Ratings Ltd or A3 or higher by Moody’s or a comparable rating from an internationally recognized
credit rating agency, or (b) any other bank or financial institution approved by the Administrative
Agent.

     “Accounting Reference Date” shall mean December 31.

     “Additional Guarantor” shall mean a company which becomes an Additional Guarantor in
accordance with Section 5.21(d) and the terms of the Guarantee Agreement or the Norwegian Guarantee
Agreement, as applicable.

     “Adjusted LIBO Rate” shall mean, with respect to any Eurodollar Borrowing for any Interest
Period, an interest rate per annum equal to the product of (a) the LIBO Rate in effect for such
Interest Period and (b) Statutory Reserves.

     “Administrative Agent Fees” shall have the meaning assigned to such term in Section 2.05(b).

     “Administrative Questionnaire” shall mean an Administrative Questionnaire in the form of
Exhibit A, or such other form as may be supplied from time to time by the Administrative Agent.

     “Affiliate” shall mean, when used with respect to a specified person, another person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is
under common Control with the person specified; provided, however, that, for purposes of Section
6.09, the term “Affiliate” shall also include any person that
directly or indirectly owns 10% or more of any class of Equity Interests of the person
specified or that is an officer or director of the person specified.

     “Aggregate Revolving Credit Exposure” shall mean the aggregate amount of the Lenders’
Revolving Credit Exposures.

 

3

     “Alternate Base Rate” shall mean, for any day, a rate per annum equal to the greater of (a)
the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day
plus 1/2 of 1%. If the Administrative Agent shall have determined (which determination shall be
conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate
for any reason, including the inability or failure of the Administrative Agent to obtain sufficient
quotations in accordance with the terms of the definition thereof, the Alternate Base Rate shall be
determined without regard to clause (b) of the preceding sentence until the circumstances giving
rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in
the Prime Rate or the Federal Funds Effective Rate shall be effective on the effective date of such
change in the Prime Rate or the Federal Funds Effective Rate, as the case may be.

     “Annual Financial Statement” shall mean the financial statements for a Fiscal Year delivered
pursuant to Section 5.01(a).

     “Applicable Percentage” shall mean, for any day, with respect to any Eurodollar Term Loan, ABR
Term Loan, Eurodollar Revolving Loan or ABR Revolving Loan or the Commitment Fee, the applicable
percentage set forth in the applicable table below under the caption “Eurodollar Spread (Term
Loans)”, “ABR Spread (Term Loans)”, “Eurodollar Spread (Revolving Loans)”, “ABR Spread (Revolving
Loans)” or “Commitment Fee”, as the case may be, based upon the Corporate Ratings applicable on
such date:

	 	 	 	 	 	 	 	 	 
	 	 	Eurodollar Spread	 	ABR Spread
	Corporate Ratings	 	(Term Loans)	 	(Term Loans)
	Category 2
	 	 	 	 	 	 	 	 
	BB or better by S&P and Ba1 or better
by Moody’s
	 	 	1.75	%	 	 	0.75	%
	Category 1
	 	 	 	 	 	 	 	 
	All other Corporate Ratings
	 	 	2.00	%	 	 	1.00	%

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Eurodollar Spread	 	ABR Spread	 	Commitment
	Corporate Ratings	 	(Revolving Loans)	 	(Revolving Loans)	 	Fee
	Category 3
	 	 	 	 	 	 	 	 	 	 	 	 
	BB+ or better by
S&P and Ba1 or
better by Moody’s
	 	 	1.75	%	 	 	0.75	%	 	 	0.375	%
	Category 2
	 	 	 	 	 	 	 	 	 	 	 	 
	BB or better by S&P
and Ba2 or better
by Moody’s
	 	 	2.00	%	 	 	1.00	%	 	 	0.50	%
	Category 1
	 	 	 	 	 	 	 	 	 	 	 	 
	All other Corporate
Ratings
	 	 	2.25	%	 	 	1.25	%	 	 	0.50	%

 

4

Each change in the Applicable Percentage resulting from a change in the Corporate Ratings shall be
effective with respect to all Loans and Letters of Credit outstanding on and after the date on
which such change is first publicly announced by S&P or Moody’s, as applicable, until the date
immediately preceding the next date on which any change in the Corporate Ratings that results in
change in the Applicable Percentage is so announced. Notwithstanding the foregoing, the Corporate
Ratings shall be deemed to be in Category 1 of each table above for purposes of determining the
Applicable Percentage (a) at any time on or prior to March 31, 2007, (b) at any time after the
occurrence and during the continuance of an Event of Default and (c) at any time during which
either S&P or Moody’s shall not have in effect the applicable Corporate Rating. If the rating
system of S&P or Moody’s shall change, or if either such rating agency shall cease to be in the
business of issuing corporate credit ratings, the Borrower, Parent and the Required Lenders shall
negotiate in good faith to amend this definition to reflect such changed rating system or the
non-availability of ratings from such rating agency and, pending the effectiveness of any such
amendment, the rating of such rating agency shall be determined by reference to the rating most
recently in effect from such rating agency prior to such change or cessation.

     “Arranger” shall mean each of Credit Suisse Securities (USA) LLC and Royal Bank of Canada, in
their respective capacities as joint lead arrangers of the Facilities and Natixis, BNP Paribas,
Société Générale, Crédit Industriel et Commercial, and Calyon, in their respective capacities as
co-arrangers of the Facilities.

     “Asset Sale” shall mean the sale, transfer or other disposition (by way of merger, casualty,
condemnation or otherwise) by Parent, the Borrower or any of the other Subsidiaries to any person
other than Parent, the Borrower or any other Obligor of (a) any Equity Interests of any of the
Subsidiaries (other than directors’ qualifying shares) or (b) any other assets of Parent, the
Borrower or any of the other Subsidiaries (other than (i) any Permitted Disposal described in
clause (a), (b), (c), (d) (provided that cash consideration is not received in connection with such
Permitted Disposal under such clause (d)), (e)(i), (e)(ii), (e)(iii), (f), (i), (j), (k), (l) or
(o) of the definition thereof and (ii) any other sale, transfer or other disposition or series of
related sales, transfers or other dispositions, in each case having a value not in excess of
$1,500,000).

     “Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender
and an assignee, and accepted by the Administrative Agent, in the form of Exhibit B or such other
form as shall be approved by the Administrative Agent.

     “Auditors” shall mean the external auditors of Parent.

     “Authorization” shall mean an authorization, consent, approval, resolution, license,
exemption, filing, notarization or registration.

     “Available Amount” shall mean, as of the Closing Date, $0, which amount shall be (a)
increased, on the date of delivery in any Fiscal Year of the Compliance Certificate required by
Section 5.02 setting forth the calculation of Excess Cash Flow for the preceding Fiscal Year (each
such date being an “ECF Prepayment Date”), so long as any

 

5

prepayment required pursuant to Section
2.13(d) has been made, by an amount equal to the amount of such Excess Cash Flow that is not
required to be used to prepay the Loans (without giving effect to any rejection right on the part
of the Lenders), (b) increased, on the date of receipt by Parent, the Borrower or any other Obligor
of the Net Cash Proceeds of any Equity Issuance, by an amount equal to the amount of such Net Cash
Proceeds that is not required to be used to prepay the Loans (without giving effect to any
rejection right on the part of the Lenders), and (c) reduced (but not below $0) (i) on each ECF
Prepayment Date where Excess Cash Flow for the immediately preceding Fiscal Year is a negative
number, by such amount, and (ii) at the time any Permitted Acquisition, Permitted Investment,
Permitted Loan or Restricted Payment is made pursuant to Section 6.05, 6.06(b), 6.10(b) or
6.12(b)(x), with an amount attributable to the Available Amount, by the portion thereof so
utilized.

     “Base Case Model” shall mean the base case model prepared by Parent and delivered to the
Administrative Agent prior to the date of this Agreement.

     “Board” shall mean the Board of Governors of the Federal Reserve System of the United States
of America.

     “Borrowing” shall mean (a) Loans of the same Class and Type made, converted or continued on
the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in
effect, or (b) a Swingline Loan.

     “Borrowing Request” shall mean a request by the Borrower in accordance with the terms of
Section 2.03 and substantially in the form of Exhibit C, or such other form as shall be approved by
the Administrative Agent.

     “Bridge Facility” shall mean the credit facility made available to Parent pursuant to the
Bridge Facility Agreement in an aggregate principal amount not to exceed $700,000,000 (or its
equivalent in another currency or currencies).

     “Bridge Facility Agreement” shall mean the Single Currency Term Facility Agreement dated as of
November 22, 2006, among Parent, the guarantors party thereto, Credit Suisse International, as
arranger, the lenders party thereto and Credit Suisse, London Branch, as agent and as security
agent.

     “Bridge Facility Security Documents” shall mean all security documents entered into by any
Obligor creating or expressed to create any Security over all or any part of its assets in respect
of the obligations of any of the Obligors in connection with the Bridge Facility Agreement.

     “Business Day” shall mean any day other than a Saturday, Sunday or day on which banks in New
York City are authorized or required by law to close; provided, however, that when used in
connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which
banks are not open for dealings in dollar deposits in the London interbank market.

 

6

     “Capital Expenditures” shall mean investments made in multi-client surveys as such item
appears in the consolidated accounts “Document de Référence” plus purchase of tangible and
intangibles or property, plant and equipment as the case may be plus equipment acquired under
capital lease (other than charters of seismic vessels), but excluding in each case any such
expenditure made to restore, replace or rebuild property to the condition of such property
immediately prior to any damage, loss, destruction or condemnation of such property, to the extent
such expenditure is made with insurance proceeds, condemnation awards or damage recovery proceeds
relating to any such damage, loss, destruction or condemnation.

     “Capital Lease Obligations” of any person shall mean the obligations of such person to pay
rent or other amounts under any lease of (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 of such person under IFRS, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with IFRS.

     “Cash” shall mean, at any time, cash at banks (including short-term deposits) denominated in
any currency and credited to an account in the name of one or more members of the Group with a bank
and to which such member or members of the Group are alone beneficially entitled and provided that
(a) such cash is repayable on demand with or without penalty (except where cash is repayable with a
penalty, such penalty shall be taken into account in determining the amount of such cash), (b)
repayment of such cash is not contingent on the prior discharge of any other indebtedness of any
Group member or of any other person whatsoever or on the satisfaction of any other condition and
(c) such cash is freely transferable to an Obligor.

     “Cash Equivalent Investments” shall mean at any time (a) certificates of deposit maturing
within one year after the relevant date of calculation and issued by an Acceptable Bank; (b) any
investment in marketable debt obligations issued or guaranteed by the government of the United
States of America, the United Kingdom, any member state of the European Economic Area or any
Participating Member State or by an instrumentality or agency of any of them having an equivalent
credit rating, maturing within one year after the relevant date of calculation and not convertible
or exchangeable to any other security; (c) commercial paper not convertible or exchangeable to any
other security: (i) for which a recognized trading market exists; (ii) issued by an issuer
incorporated in the United States of America, the United Kingdom, any member state of the European
Economic Area or any Participating Member State; (iii) which matures within one year after the
relevant date of calculation; and (iv) which has a credit rating of either A-1 or higher by S&P or
Fitch Ratings Ltd or P-1 or higher by Moody’s, or, if no rating is available in respect of the
commercial paper, the issuer of which has, in respect of its long-term unsecured and non-credit
enhanced debt obligations, an equivalent rating; (d) sterling bills of exchange eligible for
rediscount at the Bank of England and accepted by an Acceptable Bank (or their dematerialized
equivalent); (e) any investment accessible within 30 days in money market funds which have a credit
rating of either A-1 or higher by S&P or Fitch Rating Ltd or P-1 or higher by Moody’s and which
invest substantially all their assets in securities of the types described in clauses (a) through
(d) above; (f)

 

7

investments in so-called “auction rate” securities rated AAA or higher by S&P or Aaa
or higher by Moody’s and which have a reset date not more than 90 days from the date of acquisition
thereof; (g) other short-term investments utilized by Foreign Subsidiaries in accordance with
normal investment practices for cash management in investments of a type analogous to the
foregoing; or (h) any other debt security approved by the Majority Lenders, in each case, to which
any member of the Group is beneficially entitled at that time and which is not issued or guaranteed
by any member of the Group or subject to any Security (other than one arising under the Security
Documents).

     “CGG Services SA Project” shall mean the reorganization of Parent’s existing services business
by means of asset contributions to CGG Services S.A. (formerly known as CGG Marine S.A.).

     “CGG Services Holding Project” shall mean the reorganization of the Group’s services business,
including, without limitation, by means of the transfer of Equity Interests of the relevant members
of the Group from Parent to a new holding company, which shall become an Obligor hereunder.

     “Change in Law” shall mean (a) the adoption of any law, rule or regulation after the date of
this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.14, by any lending
office of such Lender or by such Lender’s or Issuing Bank’s
holding company, if any) with any request, guideline or directive (whether or not having the
force of law) of any Governmental Authority made or issued after the date of this Agreement.

     A “Change of Control” shall be deemed to have occurred upon the occurrence of any of the
following: (a) the sale, lease, transfer, conveyance or other disposition (other than by merger or
consolidation), in one or a series of related transactions, of all or substantially all of the
properties or assets of Parent and its Subsidiaries, taken as a whole; (b) the adoption, by
shareholders of Parent, of a voluntary plan relating to the liquidation or dissolution of Parent;
(c) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any person, or persons acting in concert, becomes the
beneficial owner, directly or indirectly through one or more intermediaries, of more than 35% of
the voting power of the outstanding voting shares of Parent; (d) the first day on which more than a
majority of the members of the board of directors of Parent are not Continuing Directors; or (e)
the Borrower ceases to be a wholly owned subsidiary of Parent.

     “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the
Loans comprising such Borrowing, are Revolving Loans, Term Loans, Swingline Loans or Other Term
Loans and, when used in reference to any Commitment, refers to whether such Commitment is a
Revolving Credit Commitment, Term Loan Commitment, Swingline Commitment or Incremental Term Loan
Commitment.

     “Closing Date” shall mean January 12, 2007.

 

8

     “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

     “Collateral” shall mean all the “Collateral” as defined in any Security Document and shall
also include the Mortgaged Properties.

     “Commitment” shall mean, with respect to any Lender, such Lender’s Revolving Credit
Commitment, Term Loan Commitment, Swingline Commitment and Incremental Term Loan Commitment.

     “Commitment Fee” shall have the meaning assigned to such term in Section 2.05(a).

     “Compliance Certificate” shall mean a certificate substantially in the form set out in Exhibit
K.

     “Confidential Information Memorandum” shall mean the Confidential Information Memorandum of
Parent dated December 2006.

     “Continuing Directors” shall mean, as of any date of determination, any member of the board of
directors of Parent who (a) was a member of the board of directors of Parent on the date of this
Agreement or (b) was nominated for election to the board of directors of Parent with the approval
of, or whose election to the board of directors of Parent was ratified by, at least a majority of
the members of the board of directors of Parent who were members of the board of directors of
Parent on the date of this Agreement or who were so elected to the board of directors of Parent
thereafter.

     “Control” shall mean the possession, directly or indirectly, of the power to direct or cause
the direction of the management or policies of a person, whether through the ownership of voting
securities, by contract or otherwise, and the terms “Controlling” and “Controlled” shall have
meanings correlative thereto.

     “Corporate Ratings” shall mean the corporate rating of Parent by S&P and the corporate family
rating of Parent by Moody’s.

     “Credit Event” shall have the meaning assigned to such term in Section 4.01.

     “Current Assets” shall mean, at any time, the consolidated current assets (other than Cash and
Cash Equivalent Investments) of Parent and the Subsidiaries.

     “Current Liabilities” shall mean, at any time, the consolidated current liabilities of Parent
and the Subsidiaries at such time, but excluding, without duplication, (a) the current portion of
any long-term Indebtedness and (b) outstanding Revolving Loans and Swingline Loans and outstanding
loans under the French Revolving Facility.

     “Debt Refinancing Securities” shall mean the debt securities subject to the Engagement Letter.

 

9

     “Default” shall mean an Event of Default or any event or circumstance specified in Article VII
which would (with the expiry of a grace period, the giving of notice, the making of any
determination under the Finance Documents or any combination of any of the foregoing) be an Event
of Default.

     “Defaulting Lender” shall mean any Revolving Credit Lender that has (a) defaulted in its
obligation to make a Revolving Loan or to fund its participation in a Letter of Credit or Swingline
Loan required to be made or funded by it hereunder, (b) notified the Administrative Agent or an
Obligor in writing that it does not intend to satisfy any such obligation or (c) become insolvent
or the assets or management of which has been taken over by any Governmental Authority.

     “Demand Securities” shall mean the demand securities subject to any Fee Letter.

     “Disqualified Stock” shall mean any Equity Interest that, by its terms (or by the terms of
any security into which it is convertible or for which it is exchangeable), or upon the happening
of any event, (a) matures (excluding any maturity as the result of an optional redemption by the
issuer thereof) or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise,
or is redeemable at the option of the holder thereof, in whole or in part, or requires the payment
of any cash dividend or any other scheduled payment constituting a return of capital, in each case
at any time on or prior to the first anniversary of the Term Loan Maturity Date, or (b) is
convertible into or exchangeable (unless at the sole option of the issuer thereof) for (i) debt
securities or (ii) any Equity Interest referred to in clause (a) above, in each case at any time
prior to the first anniversary of the Term Loan Maturity Date.

     “dollars” or “$” shall mean lawful money of the United States of America.

     “Domestic Subsidiaries” shall mean all Subsidiaries incorporated or organized under the laws
of the United States of America, any State thereof or the District of Columbia.

     “EBITDA” shall mean operating income (loss) of Parent and the Subsidiaries determined on a
consolidated basis in accordance with IFRS, excluding non-recurring revenues (expenses) plus
depreciation, amortization, additions (deductions) to valuation allowances of assets and dividends
received from companies accounted for by Parent under the equity method (it being understood that
EBITDA is referred to as “ORBDA” under the Bridge Facility Agreement and in the public filings and
releases of Parent).

     “Engagement Letter” shall mean the engagement letter dated September 4, 2006, between Parent
and the Manager.

     “Environmental Claim” shall mean any claim, proceeding, formal notice or investigation by any
person in respect of any Environmental Law.

     “Environmental Law” shall mean any applicable law or regulation which relates to (a) the
pollution or protection of the environment; (b) harm to or the protection of

 

10

human health; (c) the
conditions of the workplace; or (d) any emission or substance capable of causing harm to any living
organism or the environment.

     “Environmental Permits” shall mean any permit and other Authorization and the filing of any
notification, report or assessment required under any Environmental Law for the operation of the
business of any member of the Group conducted on or from the properties owned or used by any member
of the Group.

     “Equity Interests” shall mean shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other
equity interests in any person, and any option, warrant or other right entitling the holder
thereof to purchase or otherwise acquire any such equity interest.

     “Equity Issuance” shall mean any issuance or sale by Parent, the Borrower or any of their
respective subsidiaries of any Equity Interests of Parent, the Borrower or any such subsidiary, as
applicable, except in each case for (a) any issuance or sale to Parent, the Borrower or any
Subsidiary and (b) any issuance of directors’ qualifying shares.

     “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as the same may be
amended from time to time.

     “ERISA Affiliate” shall mean any trade or business (whether or not incorporated) that,
together with any U.S. Group Member, is treated as a single employer under Section 414(b) or (c) of
the Code, or solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as
a single employer under Section 414 of the Code.

     “ERISA Event” shall mean (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder, with respect to a Plan (other than an event for which the 30-day
notice period is waived), (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA) and, on and after the
effectiveness of the Pension Act, any failure by any Plan to satisfy the minimum funding standards
(within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Plan,
whether or not waived, (c) the filing pursuant to Section 412 of the Code or Section 303 of ERISA
of an application for a waiver of the minimum funding standard with respect to any Plan, (d) the
incurrence by any U.S. Group Member or any of its ERISA Affiliates of any liability under Title IV
of ERISA with respect to the termination of any Plan or the withdrawal or partial withdrawal of any
U.S. Group Member or any of its ERISA Affiliates from any Plan or Multiemployer Plan, (e) on and
after the effectiveness of the Pension Act, a determination that any Plan is, or is expected to be,
in “at-risk” status (within the meaning of Title IV of ERISA), (f) the receipt by any U.S. Group
Member or any of its ERISA Affiliates from the PBGC or a plan administrator of any notice relating
to the intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan, (g)
the adoption of any amendment to a Plan that would require the provision of security pursuant to
Section 401(a)(29) of the Code or Section 307 of ERISA, (h) the receipt by any U.S. Group Member or
any of its ERISA

 

11

Affiliates of any notice, or the receipt by any Multiemployer Plan from any U.S.
Group Member or any of its ERISA Affiliates of any notice, concerning the imposition of Withdrawal
Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in
reorganization, within the meaning of Title IV of ERISA (or, after the effectiveness of the Pension
Act, that a multiemployer plan is in endangered or critical status within the meaning of Section
305 of ERISA), (i) the occurrence of a “prohibited transaction” with respect to which any U.S.
Group Member or any of the Subsidiaries is a “disqualified person” (within the meaning of Section
4975 of the Code) or with respect to which any
U.S. Group Member or any such Subsidiary could otherwise be liable, or (j) any other event or
condition with respect to a Plan or Multiemployer Plan that could result in liability of the
Borrower or any Subsidiary.

     “Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or
the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the
Adjusted LIBO Rate.

     “Event of Default” shall mean any event or circumstance specified as such in Article VII.

     “Excess Cash Flow” shall mean, for any Fiscal Year of Parent, the excess of (a) the sum,
without duplication, of (i) EBITDA for such Fiscal Year and (ii) reductions to noncash working
capital of Parent and the Subsidiaries for such Fiscal Year (i.e., the decrease, if any, in Current
Assets minus Current Liabilities from the beginning to the end of such Fiscal Year) over (b) the
sum, without duplication, of (i) the amount of any Taxes payable in cash by Parent and the
Subsidiaries with respect to such Fiscal Year, (ii) Total Interest Costs for such Fiscal Year paid
in cash, (iii) Capital Expenditures during such Fiscal Year, except to the extent financed with the
proceeds of Financial Indebtedness, equity issuances, casualty proceeds, condemnation proceeds or
other proceeds that would not be included in EBITDA, (iv) permanent repayments of Financial
Indebtedness (other than (x) mandatory prepayments of Loans under Section 2.13 and (y) Voluntary
Prepayments) made in cash by Parent and the Subsidiaries during such Fiscal Year, but only to the
extent that the Financial Indebtedness so prepaid by its terms cannot be reborrowed or redrawn and
such prepayments do not occur in connection with a refinancing of all or any portion of such
Financial Indebtedness, (v) without duplication of amounts reflected in Total Interest Costs for
such Fiscal Year, all cash payments made pursuant to Treasury Transactions during such Fiscal Year,
(vi) Permitted Acquisitions made in cash by Parent and the Subsidiaries during such Fiscal Year,
(vii) Restricted Payments made in cash in accordance with Section 6.12 by Parent and the
Subsidiaries during such Fiscal Year and (viii) additions to noncash working capital for such
Fiscal Year (i.e., the increase, if any, in Current Assets minus Current Liabilities from the
beginning to the end of such Fiscal Year).

     “Excluded Taxes” shall mean, with respect to the Administrative Agent, any Lender, the Issuing
Bank or any other recipient of any payment to be made by or on account of any obligation of the
Borrower hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by the
United States of America, or by the jurisdiction under the laws of which such recipient is
organized or in which its principal office is located or, in the case of any Lender, in which its
applicable lending office is

 

12

located, (b) any branch profits taxes imposed by the United States of
America or any similar tax imposed by any other jurisdiction described in clause (a) above and (c)
in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under
Section 2.21(a)), any withholding tax that is imposed on amounts payable to such
Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or
designates a new lending office) or is attributable to such Foreign Lender’s failure or inability
to comply with the documentation requirements set forth in Section 2.20(e) or failure to notify the
Borrower that any information previously provided in complying with such requirements is or has
become incorrect, except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new lending office (or assignment), to receive additional
amounts from the Borrower with respect to such withholding tax pursuant to Section 2.20(a).

     “Existing Bond Indenture” means the indenture dated April 28, 2005, among Parent, as issuer,
certain of its Affiliates, as guarantors, and JPMorgan Chase Bank, National Association, as
trustee, pursuant to which the Existing Bonds were issued, as amended, restated, supplemented or
otherwise modified from time to time.

     “Existing Bonds” shall mean the existing 71/2% Senior Notes due 2015 of Parent.

     “Existing Credit Agreement” shall mean the Revolving Credit Facility Agreement dated March 12,
2004, among Parent, certain Subsidiaries of Parent, the lenders from time to time party thereto and
Natexis Banques Populaires, as arranger and agent.

     “Existing Target Credit Agreement” shall mean the Credit Agreement dated as of February 6,
2004, among the Target, Wells Fargo Bank, National Association, as U.S. agent, and certain other
parties thereto.

     “Existing Letter of Credit” shall mean each Letter of Credit previously issued for the account
of the Borrower that (a) is outstanding on the Closing Date and (b) is listed on Schedule 1.01(a).

     “Facilities” shall mean the revolving credit, swingline, letter of credit and term loan
facilities provided in this Agreement.

     “Federal Funds Effective Rate” shall mean, for any day, the weighted average of the rates on
overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal
funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New
York, or, if such rate is not so published for any day that is a Business Day, the average of the
quotations for the day for such transactions received by the Administrative Agent from three
Federal funds brokers of recognized standing selected by it.

     “Fee Letter” shall mean the fee letter dated January 12, 2007, between the Borrower and the
Administrative Agent, and any other agreement entered into in connection with the Facilities,
setting out any of the fees referred to in Section 2.05.

 

13

     “Fees” shall mean the Commitment Fees, the Administrative Agent Fees, the L/C Participation
Fees and the Issuing Bank Fees.

     “Finance Document” shall mean this Agreement, the Letters of Credit, any Compliance
Certificate, any Fee Letter, any Security Document, any Borrowing Request, any Incremental
Assumption Agreement, the promissory notes, if any, executed and delivered pursuant to Section
2.04(e) and any other document designated as a “Finance Document” by the Administrative Agent and
Parent.

     “Finance Party” shall mean the Administrative Agent, the Collateral Agent, an Arranger or a
Lender.

     “Financial Indebtedness” shall mean any indebtedness for or in respect of: (a) moneys
borrowed; (b) any amount raised by acceptance under any acceptance credit facility; (c) any amount
raised pursuant to any note purchase facility or the issue of bonds, notes, debentures or any
similar instrument; (d) the amount of any liability in respect of any lease or hire purchase
contract which would, in accordance with IFRS, be treated as a finance or capital lease; (e)
receivables sold or discounted (other than any receivables to the extent they are sold on a
non-recourse basis); (f) any amount raised under any other transaction (including any forward sale
or purchase agreement) having the commercial effect of a borrowing; (g) any derivative transaction
entered into in connection with protection against or benefit from fluctuation in any rate or price
(and, when calculating the value of any derivative transaction, only the marked to market value
shall be taken into account); (h) any counter-indemnity obligation in respect of a guarantee,
indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank
or financial institution; (i) all obligations issued or assumed as the deferred purchase price of
property or services (excluding trade accounts payable and accrued obligations incurred in the
ordinary course of business); and (j) the amount of any liability in respect of any guarantee or
indemnity for any of the items referred to in clauses (a) to (i) above; provided that any
indebtedness for or in respect of any Permitted Guarantee shall not constitute “Financial
Indebtedness” hereunder to the extent such indebtedness is not due and payable.

     “Financial Officer” of any person shall mean the chief financial officer, deputy chief
financial officer, principal accounting officer, treasurer or controller of such person or, in the
case of a Foreign Obligor without any of the aforementioned officers, a director or officer of such
person reasonably satisfactory to the Administrative Agent.

     “Financial Quarter” shall mean the period commencing on the day after one Quarter Date and
ending on the next Quarter Date.

     “Fiscal Year” shall mean a calendar year ending on December 31.

     “Foreign Lender” shall mean any Lender that is organized under the laws of a jurisdiction
other than that in which the Borrower is located. For purposes of this definition, the United
States of America, each State thereof and the District of Columbia shall be deemed to constitute a
single jurisdiction.

 

14

     “Foreign Obligor” shall mean any Obligor that is not a U.S. Person.

     “Foreign Subsidiary” shall mean any Subsidiary that is not a Domestic Subsidiary.

     “French GAAP” shall mean generally accepted accounting principles in France.

     “French Revolving Facility” shall mean the credit facility made available to Parent pursuant
to the French Revolving Facility Agreement in an aggregate principal amount not to exceed
$200,000,000 (or its equivalent in another currency or currencies).

     “French Revolving Facility Agreement” shall mean a revolving facility credit agreement, in
form and substance reasonably satisfactory to the Administrative Agent, to be entered into among
Parent, Natixis, as facility agent, Credit Suisse, as security agent, and certain other parties,
provided that the security agent under such credit agreement has become a party to the
Intercreditor Agreement on terms reasonably satisfactory to the Administrative Agent.

     “French Revolving Facility Security Documents” shall mean all security documents entered into
by any Obligor creating or expressed to create any Security over all or any part of its assets in
respect of the obligations of any of the Obligors in connection with the French Revolving Facility
Agreement.

     “Government Authority” shall mean the government of France, the United States or any other
nation, or any state, regional or local political subdivision or department thereof, and any other
governmental or regulatory agency, authority, body, commission, central bank, board, bureau, organ,
court, instrumentality or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative powers or functions of or pertaining to government, in each case
whether federal, state, local or foreign (including supra-national bodies such as the European
Union or the European Central Bank).

     “Granting Lender” shall have the meaning assigned to such term in Section 9.04(i).

     “Group” shall mean Parent and its Subsidiaries, including, on and after the Closing Date, the
Target Group.

     “Group Restructuring” shall mean the reorganization of the Group, including the transfer
within the Group of Equity Interests of Domestic Subsidiaries and Foreign Subsidiaries.

     “Guarantee Agreement” shall mean the Guarantee Agreement, substantially in the form of Exhibit
D, among Parent, the Borrower, the other Subsidiaries party thereto and the Collateral Agent for
the benefit of the Secured Parties.

 

15

     “Guarantor” shall mean an Original Guarantor or an Additional Guarantor, unless it has ceased
to be a Guarantor in accordance with the terms of the Guarantee Agreement or the Norwegian
Guarantee Agreement, as applicable.

     “Hazardous Materials” shall mean (a) any petroleum products or byproducts and all other
hydrocarbons, coal ash, radon gas, asbestos, urea formaldehyde foam insulation, polychlorinated
biphenyls, chlorofluorocarbons and all other ozone-depleting substances and (b) any chemical,
material, substance or waste that is prohibited, limited or regulated by or pursuant to any
Environmental Law.

     “Hedging Agreement” shall mean any interest rate protection agreement, foreign currency
exchange agreement, commodity price protection agreement or other interest or currency exchange
rate or commodity price hedging arrangement.

     “IFRS” shall mean International Financial Reporting Standards issued by the International
Accounting Standards Board and adopted by the European Union.

     “Incremental Amount” shall mean, at any time, the excess, if any, of (a) $300,000,000 over (b)
the aggregate amount of all Incremental Term Loan Commitments and additional Revolving Credit
Commitments established prior to such time pursuant to Section 2.24.

     “Incremental Assumption Agreement” shall mean an Incremental Assumption Agreement in form and
substance reasonably satisfactory to the Administrative Agent, among the Borrower, the
Administrative Agent and one or more Incremental Term Lenders or persons who will become Revolving
Credit Lenders.

     “Incremental Term Borrowing” shall mean a Borrowing comprised of Incremental Term Loans.

     “Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment or an
outstanding Incremental Term Loan.

     “Incremental Term Loan Commitment” shall mean the commitment of any Lender, established
pursuant to Section 2.24, to make Incremental Term Loans to the Borrower.

     “Incremental Term Loan Maturity Date” shall mean the final maturity date of any Incremental
Term Loan, as set forth in the applicable Incremental Assumption Agreement.

     “Incremental Term Loans” shall mean Term Loans made to the Borrower pursuant to Section
2.01(b). Incremental Term Loans may be made in the form of additional Term Loans or, to the extent
permitted by Section 2.24 and provided for in the relevant Incremental Assumption Agreement, Other
Term Loans.

 

16

     “Incremental Term Loan Repayment Dates” shall mean the dates scheduled for the repayment of
principal of any Incremental Term Loan, as set forth in the applicable Incremental Assumption
Agreement.

     “Indemnified Taxes” shall mean Taxes other than Excluded Taxes.

     “Intellectual Property” shall mean (a) any patents, trademarks, service marks, designs,
business names, copyrights, design rights, moral rights, inventions, confidential information,
know-how and other intellectual property rights and interests, whether registered or unregistered;
and (b) the benefit of all applications and rights to use such assets of each member of the Group.

     “Intercreditor Agreement” shall mean the Intercreditor Agreement between, among others, the
Obligors, the Collateral Agent and the security agent under the Bridge Facility Agreement, all as
at the date of such agreement, substantially in the form of Exhibit I.

     “Interest Payment Date” shall mean (a) with respect to any ABR Loan (including any Swingline
Loan), the last Business Day of each March, June, September and December, and (b) with respect to
any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such
Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than
three months’ duration, each day that would have been an Interest Payment Date had successive
Interest Periods of three months’ duration been applicable to such Borrowing.

     “Interest Period” shall mean, with respect to any Eurodollar Borrowing, the period commencing
on the date of such Borrowing and ending on the numerically corresponding day (or, if there is no
numerically corresponding day, on the last day) in the calendar month that is 1, 2, 3 or 6 months
(and, if available to all of the applicable Lenders, 9 or 12 months) thereafter, as the Borrower
may elect; provided, however, that if any Interest Period would end on a day other than a Business
Day, such Interest Period shall be extended to the next succeeding Business Day unless such next
succeeding Business Day would fall in the next calendar month, in which case such Interest Period
shall end on the next preceding Business Day. Interest shall accrue from and including the first
day of an Interest Period to but excluding the last day of such Interest Period. For
purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing
is made and thereafter shall be the effective date of the most recent conversion or continuation of
such Borrowing.

     “Issuing Bank” shall mean, as the context may require, (a) Credit Suisse, acting through any
of its Affiliates or branches, in its capacity as the issuer of Letters of Credit hereunder, (b)
with respect to each Existing Letter of Credit, the Lender that issued such Existing Letter of
Credit, and (c) any other Lender that may become an Issuing Bank pursuant to Section 2.23(i) or
2.23(k), with respect to Letters of Credit issued by such Lender. The Issuing Bank may, in its
discretion, arrange for one or more Letters of Credit to be issued by Affiliates or branches of the
Issuing Bank, in which case the term

 

17

“Issuing Bank” shall include any such Affiliate or branch with
respect to Letters of Credit issued by such Affiliate or branch.

     “Issuing Bank Fees” shall have the meaning assigned to such term in Section 2.05(c).

     “Joint Venture” shall mean any joint venture entity, whether a company, unincorporated firm,
undertaking, association, joint venture or partnership or any other entity.

     “L/C Commitment” shall mean the commitment of the Issuing Bank to issue Letters of Credit
pursuant to Section 2.23.

     “L/C Disbursement” shall mean a payment or disbursement made by the Issuing Bank pursuant to a
Letter of Credit.

     “L/C Exposure” shall mean at any time the sum of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time and (b) the aggregate principal amount of all L/C
Disbursements that have not yet been reimbursed at such time. The L/C Exposure of any Revolving
Credit Lender at any time shall equal its Pro Rata Percentage of the aggregate L/C Exposure at such
time.

     “L/C Participation Fee” shall have the meaning assigned to such term in Section 2.05(c).

     “Legal Reservations” shall mean (a) the principle that equitable remedies may be granted or
refused at the discretion of a court and the limitation of enforcement by laws relating to
insolvency, reorganization and other laws generally affecting the rights of creditors; (b) the time
barring of claims under any statute of limitations and defenses of set-off or counterclaim; and (c)
similar principles, rights and defenses under the laws of any Relevant Jurisdiction.

     “Lenders” shall mean (a) the persons listed on Schedule 2.01 (other than any such person that
has ceased to be a party hereto pursuant to an Assignment and Acceptance) and (b) any person that
has become a party hereto pursuant to an Assignment and Acceptance. Unless the context clearly
indicates otherwise, the term “Lenders” shall include the Swingline Lender.

     “Letter of Credit” shall mean any Letter of Credit issued under Section 2.23 and any Existing
Letter of Credit.

     “LIBO Rate” shall mean, with respect to any Eurodollar Borrowing for any Interest Period, the
rate per annum determined by the Administrative Agent at approximately 11:00 a.m. (London time) on
the date that is two Business Days prior to the commencement of such Interest Period by reference
to the British Bankers’ Association Interest Settlement Rates for deposits in dollars (as set forth
by any service selected by the Administrative Agent that has been nominated by the British Bankers’
Association as an authorized information vendor for the purpose of displaying such rates)

 

18

for a
period equal to such Interest Period; provided that, to the extent that an interest rate is not
ascertainable pursuant to the foregoing provisions of this definition, the “LIBO Rate” shall be the
interest rate per annum determined by the Administrative Agent to be the average of the rates per
annum at which deposits in dollars are offered for such relevant Interest Period to major banks in
the London interbank market in London, England by the Administrative Agent at approximately 11:00
a.m. (London time) on the date that is two Business Days prior to the beginning of such Interest
Period.

     “Loans” shall mean the Revolving Loans, the Term Loans and the Swingline Loans.

     “Majority Lenders” shall mean, at any time, Lenders having Loans (excluding Swingline Loans),
L/C Exposure, Swingline Exposure and unused Revolving Credit Commitments and Term Loan Commitments
representing more than 50% of the sum of all Loans outstanding (excluding Swingline Loans), L/C
Exposure, Swingline Exposure and unused Revolving Credit Commitments and Term Loan Commitments at
such time; provided that the Revolving Loans, L/C Exposure, Swingline Exposure and unused Revolving
Credit Commitments of any Defaulting Lender shall be disregarded in the determination of the
Majority Lenders at any time.

     “Manager” shall mean Credit Suisse Securities (Europe) Limited, as Manager of an offering or
offerings of Debt Refinancing Securities.

     “Margin Stock” shall have the meaning assigned to such term in Regulation U.

     “Material Adverse Effect” shall mean a material adverse effect on (a) the business,
operations, property or condition (financial or otherwise) of the Group taken as a whole; (b) the
ability of the Obligors, taken as a whole, to perform their obligations
under the Finance Documents; or (c) the validity or enforceability of, or the effectiveness or
ranking of any Security granted or purporting to be granted pursuant to any of, the Finance
Documents or the rights or remedies of any Finance Party under any of the Finance Documents.

     “Material Subsidiary” shall mean, at any time, a Subsidiary of Parent whose total assets,
revenues and/or EBITDA then equal or exceed, individually, 10% (or, solely for purposes of Section
5.21(d) hereof, 5%) of the total assets, revenues and/or EBITDA of the Group; provided that if at
any time the total assets, revenues and/or EBITDA of such individual Material Subsidiaries do not
equal or exceed 85% of the total assets, revenues and/or EBITDA of the Group, Parent shall
designate additional Subsidiaries as Material Subsidiaries such that the total assets, revenues
and/or EBITDA of all Material Subsidiaries, collectively, equal or exceed 85% of the total assets,
revenues and/or EBITDA of the Group. For purposes of this definition (a) the consolidated total
assets, revenues and/or EBITDA of a Subsidiary of Parent will be determined from its financial
statements (unconsolidated if it has subsidiaries) upon which the latest audited financial
statements of the Group have been based; (b) if a Subsidiary of Parent becomes a member of the
Group after the date on which the latest audited financial statements of the Group have been
prepared, the consolidated total assets, revenues and/or EBITDA of that

 

19

Subsidiary will be
determined from its latest financial statements; (c) the consolidated total assets, revenues and/or
EBITDA of the Group will be determined from its latest audited financial statements, adjusted
(where appropriate) to reflect the total assets, revenues and/or EBITDA of any company or business
subsequently acquired or disposed of; and (d) if a Material Subsidiary disposes of all or
substantially all of its assets to another Subsidiary of Parent, it will immediately cease to be a
Material Subsidiary and the other Subsidiary (if it is not already) will immediately become a
Material Subsidiary; the subsequent financial statements of those Subsidiaries and the Group will
be used to determine whether those Subsidiaries are Material Subsidiaries or not. If there is a
dispute as to whether or not a company is a Material Subsidiary, a certificate of the Auditors will
be, in the absence of manifest error, conclusive.

     “Merger” shall have the meaning assigned to such term in the preliminary statement.

     “Merger Agreement” shall mean the Agreement and Plan of Merger among Parent, the Target, the
Borrower and Merger Sub, dated September 4, 2006.

     “Merger Documents” shall mean the Merger Agreement and any other document or agreement
executed in connection therewith.

     “Merger Sub” shall have the meaning assigned to such term in the preliminary statement.

     “Moody’s” shall mean Moody’s Investors Service, Inc., or any successor thereto.

     “Mortgaged Properties” shall mean, initially, the owned real properties and leasehold and
subleasehold interests of the Obligors specified on Schedule 1.01(c), and shall include each other
parcel of real property and improvements thereto with respect to which a Mortgage is granted
pursuant to Section 5.21.

     “Mortgages” shall mean the mortgages, deeds of trust, leasehold mortgages, assignments of
leases and rents, modifications and other security documents delivered pursuant to clause (i) of
Section 4.02(h) or pursuant to Section 5.21, each in form and substance reasonably satisfactory to
the Collateral Agent.

     “Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of
ERISA.

     “Net Cash Proceeds” shall mean (a) with respect to any Asset Sale, the cash proceeds
(including cash proceeds subsequently received (as and when received) in respect of noncash
consideration initially received), net of (i) selling expenses (including reasonable broker’s fees
or commissions, legal fees, transfer and similar taxes and Parent’s good faith estimate of income
taxes, VAT and any other taxes paid or payable in connection with such sale), (ii) amounts provided
as a reserve, in accordance with IFRS, against any liabilities under any indemnification
obligations or purchase price adjustment associated with such Asset Sale (provided that, to the
extent and at the time any such amounts are released from such reserve, such amounts shall
constitute Net Cash

 

20

Proceeds) and (iii) the principal amount, premium or penalty, if any, interest
and other amounts on any Financial Indebtedness for borrowed money which is secured by the asset
sold in such Asset Sale and which is required to be repaid with such proceeds (other than any such
Financial Indebtedness assumed by the purchaser of such asset); provided, however, that, if (x)
Parent shall deliver a certificate of a Financial Officer to the Administrative Agent at the time
of receipt thereof setting forth Parent’s intent to reinvest such proceeds in productive assets of
a kind then used or usable in the business of Parent and its Subsidiaries (A) within six months of
receipt of such proceeds or (B) pursuant to an agreement entered into within six months of such
Asset Sale, provided that such amounts are actually invested within 12 months of such Asset Sale
and (y) no Default or Event of Default shall have occurred and shall be continuing at the time of
such certificate or at the proposed time of the application of such proceeds, such proceeds shall
not constitute Net Cash Proceeds except to the extent not so used at the end of such six- or
12-month period, as applicable, at which time such proceeds shall be deemed to be Net Cash
Proceeds; provided further, that no such proceeds shall constitute Net Cash Proceeds until the
aggregate amount of all such proceeds shall exceed $15,000,000; and (b) with respect to any
issuance or incurrence of Financial Indebtedness or any Equity Issuance, the cash proceeds thereof,
net of all taxes and customary fees, commissions, costs and other expenses incurred in connection
therewith.

     “Norwegian Guarantee Agreement” shall mean the Guarantee Agreement (Norway), substantially in
the form of Exhibit E, between CGG Marine Resources Norge AS and the Collateral Agent for the
benefit of the Secured Parties.

     “Not Otherwise Applied” shall mean, with reference to any amount of the Available Amount that
is proposed to be applied to a particular use or transaction, that such amount has not previously
been (and is not simultaneously being) applied to anything other than that such particular use or
transaction.

     “Obligations” shall mean all obligations defined as “Obligations” in the Guarantee Agreement
and the other Security Documents.

     “Obligors” shall mean the Borrower and the Guarantors.

     “Original Financial Statements” shall mean (a) IFRS (French GAAP in the case of the 2003
Fiscal Year) with a U.S. GAAP reconciliation (or, in the case of the Target Group, U.S. GAAP)
audited consolidated balance sheets and related statements of income, stockholders’ equity and cash
flows of Parent for the 2003, 2004 and 2005 Fiscal Years and for the Target Group for the 2004,
2005 and 2006 Fiscal Years; (b) (i) IFRS with a U.S. GAAP reconciliation (or, in the case of the
Target Group, U.S. GAAP) unaudited consolidated balance sheets and related statements of income,
stockholders’ equity and cash flows of each of Parent and the Target Group for each such entity’s
subsequent fiscal quarter ended 45 days before the Closing Date, which financial statements shall
not be materially inconsistent with the financial statements or forecasts previously provided to
the Administrative Agent and (ii) statements showing (x) the ratio of (A) EBITDA less Capital
Expenditures to (B) Total Interest Costs and (y) the Total Leverage Ratio, in each case, measured
quarterly on a rolling 12 month basis, and total

 

21

Capital Expenditures during a rolling 12 month
period of each of Parent and the Target Group, in each case, ended not earlier than 30 days before
the Closing Date; and (c) in relation to any other Obligor, its audited financial statements
delivered to the Administrative Agent as required by Section 5.01.

     “Original Obligors” shall mean the Borrower and the Original Guarantors.

     “Original Guarantor” shall mean a company listed as an original guarantor on Schedule 1.01(b).

     “Other Taxes” shall mean any and all present or future stamp or documentary taxes or any other
excise or property taxes, charges or similar levies arising from any payment made under any Finance
Document or from the execution, delivery or enforcement of, or otherwise with respect to, any
Finance Document.

     “Other Term Loans” shall have the meaning assigned to such term in Section 2.24.

     “Participating Member State” shall mean any member state of the European Communities that
adopts or has adopted the euro as its lawful currency in accordance with legislation of the
European Community relating to Economic and Monetary Union.

     “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA.

     “Pension Act” means the Pension Protection Act of 2006, as amended.

     “Perfection Certificate” shall mean the Perfection Certificate substantially in the form of
Exhibit B to the Pledge and Security Agreement (U.S.).

     “Permitted Acquisition” shall mean (a) the Merger; (b) an acquisition by way of merger
provided that the merger is permitted under clause (c) of the definition of Permitted Merger; (c)
the acquisition of, or investment in, any share or interest in any Permitted Joint Venture or
Permitted Investment, provided that, (i) other than as provided in subclause (ii) below, the
aggregate amount of all such acquisitions and investments shall not exceed $75,000,000, and (ii)
from and after the time at which $75,000,000 of acquisitions and investments permitted by this
clause (c) have been made, the aggregate amount of any other acquisitions or investments permitted
by this clause (c) shall be limited to the Available Amount that is Not Otherwise Applied at the
time such transaction is consummated (it being understood that a single transaction may utilize
amounts available, if any, under both subclause (i) and subclause (ii) of this clause (c)); (d) the
acquisition of, or investment in, any share or interest in the entities set forth on Schedule
1.01(f), in each case pursuant to the joint venture agreement applicable thereto, as in effect on
the Closing Date; (e) the acquisition by a member of the Group of any share, interest or asset
sold, leased, transferred or otherwise disposed of by another member of the Group in circumstances
constituting a Permitted Disposal; (f) the acquisition by a member of the Group of Cash Equivalent
Investments; (g) an acquisition by a member of the Group to which the Administrative Agent (on the
instructions of the

 

22

Majority Lenders) shall have given prior written consent; (h) the receipt by a
member of the Group of any non-cash consideration from a Qualifying Business Disposal; or (j) an
acquisition that is a Qualifying Acquisition.

     “Permitted Disposal” shall mean any sale, lease, transfer or other disposal (a) made in the
ordinary course of business of the disposing entity or of a type described in clause (ii) of the
parenthetical set forth in clause (b) of the definition of the term “Asset Sale”; (b) of access to
multi-client data libraries owned by any member of the Group, but not including the sale, lease,
transfer or other disposal of the ownership interests therein; (c) of assets in exchange for other
assets comparable or superior as to type, value and quality; (d) the sale, transfer or disposal of
assets by Parent or any member of the Group consisting of one 2D seismic vessel and/or one 3D
seismic vessel, in exchange for equity, joint venture interests or other consideration; (e) made by
(i) an Obligor to another Obligor or (ii) a non-Obligor to another non-Obligor or (iii) a
non-Obligor to an Obligor
or (iv) an Obligor to a non-Obligor subject to a maximum aggregate amount for all such
disposals under this sub-clause (iv) of $75,000,000 during the term of the Facilities; (f)
constituting the creation of any Permitted Security; (g) to which the Administrative Agent (on the
instructions of the Majority Lenders) shall have given prior written consent; (h) (i) with respect
to assets that constitute Collateral, where the higher of the market value or consideration
receivable (when aggregated with the higher of the market value or consideration receivable for any
other sale, lease, transfer or other disposal by the Group in any related transaction) does not
exceed $75,000,000 per Fiscal Year (or its equivalent in another currency or currencies), and (ii)
with respect to assets that do not constitute Collateral, where the higher of the market value or
consideration receivable (when aggregated with the higher of the market value or consideration
receivable for any other sale, lease, transfer or other disposal by the Group in any related
transaction) does not exceed, $100,000,000 per Fiscal Year (or its equivalent in another currency
or currencies), provided that the portion (if any) of the amounts set forth in the foregoing
clauses (i) and (ii) not used in any Fiscal Year may be carried forward to and used in the
immediately succeeding Fiscal Year; (i) of surplus, obsolete or worn out equipment; (j) of notes or
accounts receivable that, in order to resolve disputes that occur in the ordinary course of
business, an Obligor may discount or otherwise compromise for less than the face value thereof; (k)
of Cash or Cash Equivalent Investments; (l) of Equity Interests by an Obligor in any of its
Subsidiaries in order to qualify members of the board of directors (or similar governing body) of
the Subsidiary, if required by applicable law; (m) to the extent (i) required by a Government
Authority or (ii) pursuant to the Synergies Implementation Plan, in each case in connection with
the Merger; (n) of those assets and/or Equity Interests set forth on Schedule 1.01(g); (o) in
connection with a sale and leaseback of Parent’s Massy Principal headquarters in Massy, France; (p)
of the Equity Interests of Sercel Holding (including, without limitation, by way of a spin-off or
initial public offering thereof), provided that such transaction results in a release of the
relevant Sercel Companies as guarantors of the Existing Bonds pursuant to Section 10.04 of the
Existing Bond Indenture and as Guarantors hereunder, and provided further that, in the case of a
spin-off, such transaction satisfies the requirements of Section 6.12(b); (q) of assets and/or
Equity Interests (including, without limitation, intercompany notes) pursuant to the CGG Services
SA Project, the CGG Services Holding Project and the Group Restructuring; or (r) constituting a
Qualifying Business Disposal.

 

23

     “Permitted Financial Indebtedness” shall mean (a) any Financial Indebtedness arising under any
Finance Document; (b) any Financial Indebtedness arising under the Bridge Facility or the French
Revolving Facility; (c) any Permitted Guarantee; (d) any Financial Indebtedness permitted under
Section 6.16; (e) any Financial Indebtedness arising under or as a result of a Permitted Joint
Venture, provided that the amount of such Financial Indebtedness that is recourse to Parent or any
Subsidiary shall not exceed $100,000,000 (or its equivalent in another currency or currencies) at
any one time outstanding; (f) any Financial Indebtedness incurred by a member of the Group to which
the Administrative Agent (on the instructions of the Majority Lenders) shall have given
prior written consent; (g) any Financial Indebtedness arising under or as a result of (i) a
finance or capital lease, or purchase money Financial Indebtedness incurred by Parent or any
Subsidiary prior to or within 270 days after the acquisition, lease or improvement of an asset
permitted under this Agreement in order to finance such acquisition or improvement, and any
Permitted Refinancing Indebtedness in respect thereof, the aggregate principal amount of which when
aggregated with the Financial Indebtedness under each other finance or capital lease or purchase
money Financial Indebtedness entered into by members of the Group does not at any one time exceed
$250,000,000 (or its equivalent in another currency or currencies); (ii) the sale and leaseback of
Parent’s Massy Principal headquarters in Massy, France; and (iii) any vessel charter of the Target
being treated as a finance or capital lease under IFRS; (h) the Existing Bonds; (i) the Debt
Refinancing Securities and any Demand Securities; (j) any Financial Indebtedness listed in Schedule
1.01(d); (k) any Financial Indebtedness incurred by any Obligor not falling within clauses (a) to
(g) above, the aggregate outstanding principal amount of which does not at any one time exceed the
greater of (i) $250,000,000 (or its equivalent in another currency or currencies) and (ii) 5% of
the total assets of the Group, in each case less the total amount of Permitted Guarantees issued in
favor of non-Obligors pursuant to clause (d) of the definition thereof; (l) any Permitted
Refinancing Indebtedness; (m) any Permitted Loan falling within clause (b) of the definition of
Permitted Loan; (n) the Target Convertible Notes; (o) any Financial Indebtedness not exceeding
$30,000,000 arising in connection with the capitalization of the charter for and/or the acquisition
of the vessel Alizé and/or the consolidation of Geomar with the Group under IFRS; (p) any Financial
Indebtedness incurred to finance a Permitted Acquisition, provided that (i) the Total Leverage
Ratio calculated on a pro forma basis after giving effect to such Permitted Acquisition and the
incurrence of any such Financial Indebtedness under this clause (p) does not exceed the lesser of
(A) 2.00 to 1.00 and (B) the ratio for the most recently ended Relevant Period set forth in Section
6.02(b) and (ii) such Financial Indebtedness is pari passu with or junior to the Financial
Indebtedness hereunder in right of payment; (q) any unsecured subordinated Financial Indebtedness,
provided that (i) the Total Leverage Ratio calculated on a pro forma basis after giving effect to
the incurrence of any such Financial Indebtedness under this clause (q) does not exceed the lesser
of (A) 1.75 to 1.00 and (B) the ratio for the most recently ended Relevant Period set forth in
Section 6.02(b) and (ii) any such Financial Indebtedness incurred under this clause (q) (w) matures
(or becomes mandatorily redeemable at the option of the holder thereof) no earlier than six months
after of the Term Loan Maturity Date, (x) requires no scheduled payment of principal (or other
scheduled payment constituting a return of capital) prior to its maturity, (y) does not require
Parent, the Borrower or any Subsidiary to maintain any

 

24

specified financial condition (other than as
a condition to the taking of certain actions) and (z) contains subordination and other provisions
that are reasonably satisfactory to the Administrative Agent; (r) Financial Indebtedness of a
Subsidiary acquired after the Closing Date or a person merged into or consolidated with the
Borrower or any Subsidiary after the Closing Date and Financial Indebtedness assumed in connection
with the acquisition of assets, which Financial Indebtedness in each case, exists at the time of
such acquisition, merger or consolidation and is not created in contemplation of such event
and where such acquisition, merger or consolidation is permitted by this Agreement, and any
Permitted Refinancing Indebtedness incurred to refinance such Financial Indebtedness, the aggregate
outstanding principal amount of which does not at any one time exceed $200,000,000 (or its
equivalent in another currency or currencies); or (s) any Financial Indebtedness not falling within
clauses (a) to (g) above and incurred by any members of the Group that are not Obligors, the
aggregate outstanding principal amount of which does not at any one time exceed the greater of (i)
$250,000,000 (or its equivalent in another currency or currencies) and (ii) 5% of the total assets
of the Group, in each case less the total amount of the Permitted Guarantees issued pursuant to
clause (f) of the definition thereof.

     “Permitted Guarantee” shall mean (a) any guarantee arising under the Finance Documents; (b)
any guarantee arising under the Bridge Facility or the French Revolving Facility, the Debt
Refinancing Securities, the Demand Securities, Permitted Financial Indebtedness incurred under
clause (p) of the definition thereof or any Permitted Refinancing Indebtedness in respect thereof;
(c) any guarantee issued by a member of the Group in the ordinary course of business and not in
respect of Financial Indebtedness, including for the avoidance of doubt, any guarantee given to
ship-managers or ship-owners in relation to vessel charter contracts in the ordinary course of
business; (d) any guarantee issued by a member of the Group in respect of the Financial
Indebtedness of another member of the Group; provided that the aggregate outstanding amount of
guarantees issued after the Closing Date by Obligors in respect of Financial Indebtedness of
members of the Group that are not Obligors shall not exceed the greater of (i) $250,000,000 (or its
equivalent in another currency or currencies) and (ii) 5% of the total assets of the Group, in each
case less the total amount of Permitted Financial Indebtedness incurred under clause (k) of the
definition thereof; (e) any guarantee or indemnity or liability to which the Administrative Agent
(acting on the instructions of the Majority Lenders) has consented in writing; or (f) all
guarantees (other than those permitted pursuant to clauses (a) to (e) above) issued by members of
the Group that are not Obligors the aggregate outstanding amount of which does not exceed the
greater of (i) $250,000,000 (or its equivalent in another currency or currencies) and (ii) 5% of
the total assets of the Group, in each case less the total amount of Permitted Financial
Indebtedness incurred under clause (s) of the definition thereof.

     “Permitted Investment” shall mean the acquisition of or investment in any Equity Interest in
any company, business, person, partnership or similar entity (other than a Subsidiary) that Parent
has recorded or designated as such to the Administrative Agent in writing, provided that (a) other
than as provided in clause (b)
below, the aggregate net expenditures in all such acquisitions and
investments made by members of the Group shall not exceed $50,000,000 (or its equivalent in another
currency or currencies), and (b)

 

25

from and after the time at which $50,000,000 of such net
expenditures have been made, the aggregate net expenditures in any other such acquisitions and
investments made by
members of the Group shall not exceed the Available Amount that is Not Otherwise Applied at
the time such transaction is consummated (it being understood that a single transaction may utilize
amounts available, if any, under both clause (a) and clause (b) above).

     “Permitted Joint Venture” shall mean (a) any Joint Venture listed on Schedule 1.01(f); (b) any
Joint Venture to which the Administrative Agent (acting on the instructions of the Majority
Lenders) has given prior written consent; or (c) any Joint Venture where (i) no Default is
continuing on the date of the acquisition of or investment in, or transfer or loan to, or
guarantee, Security or Quasi-Security for the obligations of, the Joint Venture or would occur as a
result of the acquisition of or investment in, or transfer or loan to, or guarantee, Security or
Quasi-Security for the obligations of, a Joint Venture; (ii) the Joint Venture carries on, or is, a
business (x) substantially the same as that carried on by the Group or (y) providing services or
software products to the oil and gas industry or manufacturing equipment for use by the oil and gas
industry (or any business that is reasonably complementary or related thereto); and (iii) the Joint
Venture does not have any material contingent off-balance sheet, environmental, litigation or other
liability except to the extent for which adequate reserves are being maintained in accordance with
IFRS and/or in respect of which the relevant vendor (if any) has indemnified that member of the
Group.

     “Permitted Loan” shall mean (a) any loan made by a member of the Group in the ordinary course
of business (in the case of loans and advances of the type described in clause (d) of this
definition, subject to the limitations set forth in such clause); (b) any loan made by a member of
the Group to another member of the Group; provided that the aggregate amount of loans made after
the Closing Date by Obligors to members of the Group that are not Obligors (determined without
regard to any write-downs or write-offs of such loans) shall not exceed $300,000,000 at any time
outstanding; (c) any loan with respect to which the Administrative Agent (acting on the
instructions of the Majority Lenders) shall have given prior written consent; (d) loans or advances
to officers, directors and employees of Parent or any member of the Group made in the ordinary
course of business and consistent with past practices of Parent and the Group (including, without
limitation, portage) in an aggregate amount not to exceed $5,000,000 outstanding at any one time;
(e) any loans and credits (other than those permitted pursuant to clauses (a) to (d) above) made by
a member of the Group, provided that (i) other than as provided in subclause (i) below, the
aggregate amount of all such loans and credits shall not exceed $10,000,000 (or the equivalent of
such sum in another currency or currencies) at any one time outstanding, and (ii) at any time at
which $10,000,000 or more of loans and credits permitted by this clause (e) are outstanding, the
aggregate amount of any other loans and credits permitted by this clause (e) shall not exceed the
Available Amount that is Not Otherwise Applied at the time such transaction is consummated (it
being understood that a single transaction may utilize amounts available, if any, under both
subclause (i) and subclause (ii) of this clause (e)).

 

26

     “Permitted Merger” shall mean (a) the Merger; (b) an acquisition or disposal by way of merger
provided that the acquisition or disposal is a Permitted Acquisition or a Permitted Disposal, as
the case may be; (c) an amalgamation, demerger, merger, consolidation or corporate reconstruction
on a solvent basis of a member of the Group where all of the business and assets of that member
remain within the Group and if that member of the Group was an Obligor immediately prior to that
amalgamation, demerger, merger, consolidation or corporate reconstruction, all of the business and
assets of that member are retained by one or more other Obligors or a company which becomes an
Obligor upon such merger, and (i) the surviving entity of that amalgamation, demerger, merger,
consolidation or corporate reconstruction is liable for the obligations of the member of the Group
it has merged with; and (ii) the surviving entity of that amalgamation, demerger, merger,
consolidation or corporate reconstruction is incorporated in the same jurisdiction as that member
of the Group; (d) a divestiture or other corporate reconstruction of a member of the Group to the
extent (i) required by a Governmental Authority or (ii) pursuant to the Synergies Implementation
Plan, in each case in connection with the Merger; or (e) an amalgamation, demerger, merger,
consolidation or corporate reconstruction on a solvent basis of any members of the Group that are
not Obligors.

     “Permitted Refinancing Indebtedness” shall mean any Financial Indebtedness issued in exchange
for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund
(collectively, to “Refinance”), the Financial Indebtedness being Refinanced (or previous
refinancings thereof constituting Permitted Refinancing Indebtedness); provided that (a) the
principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does
not exceed the principal amount (or accreted value, if applicable) of the Financial Indebtedness so
Refinanced (plus any unpaid accrued interest and premium thereon and any underwriting discounts,
fees, commissions and expenses incurred in connection with such Refinancing); (b) each of the
stated maturity and the average life to maturity of such Permitted Refinancing Indebtedness is
greater than or equal to that of the Financial Indebtedness being Refinanced; (c) if the Financial
Indebtedness being Refinanced is subordinated in right of payment to the obligations under this
Agreement, such Permitted Refinancing Indebtedness shall be subordinated in right of payment to
such obligations on terms at least as favorable to the Lenders as those contained in the
documentation governing the Financial Indebtedness being Refinanced; (d) no Permitted Refinancing
Indebtedness shall have different obligors, or greater guarantees or security, than the Financial
Indebtedness being Refinanced; and (f) if the Financial Indebtedness being Refinanced is secured by
any collateral (whether equally and ratably with, or junior to, the Secured Parties or otherwise),
such Permitted Refinancing Indebtedness may be secured by such collateral on terms no less
favorable to the Secured Parties than those contained in the documentation governing the Financial
Indebtedness being Refinanced.

     “Permitted Security” shall mean (a) any Security granted pursuant to the terms of the Bridge
Facility or the French Revolving Facility, so long as such Security applies only to all or any
portion of the Collateral (but not to any other assets) pursuant to one or more security agreements
in accordance with the terms of the Intercreditor Agreement (or another intercreditor agreement
containing terms that, taken as a whole, are at least as

 

27

favorable to the Secured Parties as those
contained in the Intercreditor Agreement); (b) any Security listed in Schedule 1.01(e) except to
the extent the principal amount secured by that Security exceeds the amount as stated in that
Schedule (or, if higher, the maximum amount of the relevant facility as stated in that Schedule);
(c) any netting or set-off arrangement entered into by (i) any member of the Group in the ordinary
course of its cash management arrangements for the purpose of netting debit and credit balances or
(ii) in connection with a derivative transaction constituting Permitted Financial Indebtedness; (d)
any lien arising by operation of law and in the ordinary course of business; (e) any sale of
receivables on recourse terms or any Security constituted by any title transfer or retention of
title or conditional sale arrangements, in each case which are entered into by any member of the
Group in the normal course of its business up to a maximum aggregate amount of $50,000,000; (f) any
Security or Quasi-Security over or affecting any asset acquired by a member of the Group after the
date of this Agreement if (i) such Security or Quasi-Security was not created in contemplation of
the acquisition of that asset by a member of the Group, (ii) the principal amount (or, if higher,
the maximum principal amount of the relevant facility) secured has not been increased in
contemplation of, or since the acquisition of that asset by a member of the Group and (iii) such
Security or Quasi-Security does not apply to any other property or assets of Parent, the Borrower
or any Subsidiary; (g) any Security or Quasi-Security over or affecting any asset of any company
which becomes a member of the Group after the date of this Agreement, where the Security is created
prior to the date on which that company becomes a member of the Group, if: (i) such Security or
Quasi-Security was not created in contemplation of the acquisition of that company, (ii) the
principal amount (or, if higher, the maximum principal amount of the relevant facility) secured has
not increased in contemplation of or since the acquisition of that company and (iii) such Security
or Quasi-Security does not apply to any other property or assets of Parent, the Borrower or any
Subsidiary (other than a Subsidiary so acquired); (h) any Security or Quasi-Security entered into
pursuant to any Finance Document; (i) any Security created in respect of any tax assessment or
governmental charge or claim provided that (i) the aggregate amount secured by such Security is
less than $50,000,000 (or its equivalent in another currency or currencies), (ii) that such
assessment, charge or claim has not yet become due or is being contested in good faith, (iii)
adequate reserves are being maintained for such assessment, charge or claim, (iv) payment in
respect of such assessment, charge or claim has not yet become due or can be lawfully withheld and
(v) any such assessment, charge or claim which relates to an amount in excess of $7,500,000 (or its
equivalent in another currency or currencies) has been notified to the Administrative Agent; (j)
any Security to which the Administrative Agent (acting on the instructions of the Majority Lenders)
shall have given prior written consent; (k) any Security securing Financial Indebtedness arising or
permitted under (i) clause (k) or (p) of the definition of Permitted Financial Indebtedness,
provided that such Security applies solely to property or assets acquired with the proceeds of such
Permitted Financial Indebtedness, or (ii) clause (g), (o) or (r) of the definition of Permitted
Financial Indebtedness; (l) any Security securing indebtedness the principal amount of which (when
aggregated with the principal amount of any other indebtedness which has the benefit of Security
given by any
member of the Group other than any permitted under clauses (a) to (k) above or (m) to
(w) below) does not exceed $75,000,000 (or its equivalent in another currency or currencies) at any
one time

 

28

outstanding, of which not more than $25,000,000 (or its equivalent in another currency or
currencies) may be senior to or pari passu with the Transaction Security; (m) deposits made in the
ordinary course of business in connection with workers’ compensation, unemployment insurance and
other types of social security, or to secure the performance of statutory obligations, bids,
leases, government contracts, trade contracts, and other similar obligations (exclusive of
obligations for the payment of borrowed money), so long as no foreclosure, sale or similar
proceedings have been commenced with respect to any portion of the Transaction Security on account
thereof; (n) any attachment or judgment Security not constituting an Event of Default under
paragraph (p) of Article VII and being contested in good faith or discharged within 60 days; (o)
licenses (with respect to Intellectual Property and other property), leases or subleases granted to
third parties in accordance with any applicable terms of the Finance Documents and not interfering
in any material respect with the ordinary conduct of the business of Parent or any of its
Subsidiaries or resulting in a material diminution in the value of any Transaction Security as
security for the obligations under the Finance Documents; (p) easements, rights-of-way,
restrictions, encroachments, and other minor defects or irregularities in title, in each case which
do not and will not interfere in any material respect with the ordinary conduct of the business of
Parent or any of its Subsidiaries or result in a material diminution in the value of any
Transaction Security as security for the obligations under the Finance Documents; (q) any (i)
interest or title of a lessor or sublessor under any lease not prohibited by this Agreement, (ii)
Security or restriction that the interest or title of such lessor or sublessor may be subject to,
or (iii) subordination of the interest of the lessee or sublessee under such lease to any Security
or restriction referred to in the preceding clause (ii), so long as the holder of such Security or
restriction agrees to recognize the rights of such lessee or sublessee under such lease; (r)
Security arising from filing UCC financing statements relating solely to operating leases not
prohibited by this Agreement; (s) Security over rental deposits in respect of any property leased
or licensed by a member of the Group in the ordinary course of business; (t) any zoning or similar
law or right reserved to or vested in any Government Authority to control or regulate the use of
any real property; (u) Security securing obligations (other than obligations representing Financial
Indebtedness for borrowed money) under operating, reciprocal easement or similar agreements entered
into in the ordinary course of business of Parent and its Subsidiaries; (v) Security over shares in
a Permitted Joint Venture or Permitted Investment to secure obligations to the other Joint Venture
partners or other investors in
such Permitted Investment, as applicable; or (w) Security over bank accounts granted pursuant
to such bank’s standard terms and conditions for deposit accounts.

     “Permitted Share Issue” shall mean (a) the issue of Equity Interests in connection with the
Merger pursuant to the terms of the Merger Agreement; (b) the issue of Equity Interests pursuant to
any warrants, rights, options, convertible debt securities or any other convertible securities
(including pursuant to any anti-dilution provisions contained in the agreements governing such
securities) issued by Parent or the Target and outstanding on the Closing Date; (c) the issue by
Parent of any Equity Interests pursuant to any share option scheme or issue of free shares to
senior management of the Group; (d) distributions in the form of common or perpetual preferred
Equity Interests by any member of the Group (other than Parent) to its shareholders or
equityholders on a pro rata basis; (e) the issue (i) of Equity Interests by an Obligor to an
Obligor; (ii) of Equity

 

29

Interests by a non-Obligor to a non-Obligor; (iii) of common or perpetual
preferred Equity Interests by an Obligor to a non-Obligor; (iv) of Equity Interests by a wholly
owned non-Obligor, in connection with the CGG Services SA Project and the CGG Services Holding
Project, to an Obligor in exchange for consideration consisting solely of non-Cash and non-Cash
Equivalent Investments; and (v) of common or perpetual preferred Equity Interests issued in
connection with a Permitted Acquisition under clauses (c) or (d) of the definition thereof; (f) the
issue by Parent of its own Equity Interests (other than Disqualified Stock) or warrants, rights
and/or options for such Equity Interests; (g) the issue of Equity Interests of Sercel Holding
(including, without limitation, to effect an initial public offering thereof), provided that such
transaction results in a release of the relevant Sercel Companies as guarantors of the Existing
Bonds pursuant to Section 10.04 of the Existing Bond Indenture and as Guarantors hereunder; or (h)
the issue of common or perpetual preferred Equity Interests in connection with any Qualifying
Business Disposal.

     “person” shall mean any natural person, corporation, business trust, joint venture,
association, company, limited liability company, partnership, Governmental Authority or other
entity.

     “Plan” shall mean any employee pension benefit plan (other than a Multiemployer Plan) subject
to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in
respect of which any U.S. Group Member or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

     “Pledge and Security Agreement (Canada)” shall mean the Pledge and Security Agreement
(Canada), substantially in the form of Exhibit F, among the Subsidiaries party thereto and the
Collateral Agent for the benefit of the Secured Parties.

     “Pledge and Security Agreement (U.S.)” shall mean the Pledge and Security Agreement (U.S.),
substantially in the form of Exhibit G, among the Borrower, the other Subsidiaries party thereto
and the Collateral Agent for the benefit of the Secured Parties.

     “Prime Rate” shall mean the rate of interest per annum determined from time to time by Credit
Suisse as its prime rate in effect at its principal office in New York City and notified to the
Borrower.

     “Pro Rata Percentage” of any Revolving Credit Lender at any time shall mean the percentage of
the Total Revolving Credit Commitment represented by such Lender’s Revolving Credit Commitment. In
the event the Revolving Credit Commitments shall have expired or been terminated, the Pro Rata
Percentages shall be determined on the basis of the Revolving Credit Commitments most recently in
effect, giving effect to any subsequent assignments.

     “Qualifying Acquisition” shall mean an acquisition of any business or not less than 75% of the
issued Equity Interests of a limited liability company or corporation (or, as applicable in a
jurisdiction outside the United States, an organization having an

 

30

equivalent status in such
jurisdiction), provided that (a) if the relevant company, business, undertaking, person,
partnership or similar arrangement had been consolidated, on a pro forma basis, in the most recent
set of consolidated financial statements delivered by Parent in accordance with Section 5.01, all
requirements of Section 6.02(a) and (b) would have been satisfied on the date that such
requirements were tested by reference to such consolidated financial statements in accordance with
Section 6.02(c); (b) the relevant company, business, undertaking, person, partnership or similar
arrangement carries on, or is, a business (x) substantially the same as that carried on by the
Group or (y) providing services or software products to the oil and gas industry or manufacturing
equipment for use by the oil and gas industry (or any business that is reasonably complementary or
related thereto); and (c) after giving effect to such acquisition, (i) the sum of (x) the amount of
unused and available Revolving Credit Commitments plus (y) the unused and available commitments
under the French Revolving Facility shall not be less than $100,000,000 and (ii) the Total Leverage
Ratio calculated on a pro forma basis for the most recently ended Relevant Period shall be no
greater than the Total Leverage Ratio on the Closing Date.

     “Qualifying Business Disposal” shall mean a sale, demerger or other disposal of all or any
portion of a business of the Group, including, without limitation, any reorganization of such
business (including, without limitation, by means of intra-Group transfers of assets and
liabilities) as is required or advisable in connection with such sale, demerger or other disposal,
provided that such sale, demerger or other disposal (a) relates only to the assets of non-Obligors
or shares issued by non-Obligors, (b) does not involve, in the aggregate with all other such sales,
demergers and other disposals, a business or businesses (or any portion of such business or
businesses) the EBITDA of which constituted greater than 10% of the Group’s consolidated EBITDA
during the most
recently ended Relevant Period, (c) is made for fair market value and (d) is made for at least
75% cash consideration; provided further that, for purposes of clauses (c) and (d) above, the
amount of any Financial Indebtedness of a non-Obligor (as shown on Parent’s or such non-Obligor’s
most recent balance sheet or in the notes thereto) that is assumed by the transferee of the
business (or portion thereof) being sold, demerged or otherwise disposed of shall be deemed to be
cash.

     “Quarter Date” shall mean the last day of a Financial Quarter.

     “Quarterly Financial Statement” shall mean the financial statements delivered pursuant to
Section 5.01(b).

     “Quasi-Security” shall have the meaning assigned to such term in Section 6.07(a).

     “Receiver” shall mean a receiver or receiver and manager or administrative receiver of the
whole or any part of the Collateral.

     “Register” shall have the meaning assigned to such term in Section 9.04(d).

 

31

     “Regulation T” shall mean Regulation T of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof.

     “Regulation U” shall mean Regulation U of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof.

     “Regulation X” shall mean Regulation X of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof.

     “Related Fund” shall mean, with respect to any Lender that is a fund or commingled investment
vehicle that invests in bank loans, any other fund that invests in bank loans and is managed or
advised by the same investment advisor as such Lender or by an Affiliate of such investment
advisor.

     “Related Parties” shall mean, with respect to any specified person, such person’s Affiliates
and the respective directors, trustees, officers, employees, agents and advisors of such person and
such person’s Affiliates.

     “Release” shall mean any release, spill, emission, leaking, dumping, injection, pouring,
deposit, disposal, discharge, dispersal, leaching or migration into or through the environment or
within or upon any building, structure, facility or fixture.

     “Relevant Jurisdiction” shall mean, in relation to an Obligor (a) its jurisdiction of
incorporation; (b) any jurisdiction where any asset subject to or intended to be subject to the
Transaction Security to be created by it is situated; (c) any jurisdiction where it
conducts its business; and (d) the jurisdiction whose laws govern the perfection of any of the
Security Documents entered into by it.

     “Relevant Period” shall mean (a) each period of twelve months ending on the last day of
Parent’s financial year; and (b) each period of twelve months ending on the last day of each
Financial Quarter of Parent’s Fiscal Year.

     “Repayment Date” shall have the meaning given such term in Section 2.11.

     “Responsible Officer” of any person shall mean any executive officer or Financial Officer of
such person (including, in the case of a Foreign Obligor, a director or officer of such person
reasonably satisfactory to the Administrative Agent) and any other officer or similar official
thereof responsible for the administration of the obligations of such person in respect of this
Agreement.

     “Restricted Payment” shall have the meaning given such term in Section 6.12.

     “Revolving Credit Borrowing” shall mean a Borrowing comprised of Revolving Loans.

     “Revolving Credit Commitment” shall mean, with respect to each Lender, the commitment of such
Lender to make Revolving Loans hereunder as set forth on Schedule 2.01, or in the Assignment and
Acceptance or Incremental Assumption

 

32

Agreement (or, in the case of any additional Revolving Credit
Commitment established as contemplated by the definition of the term “Total Revolving Credit
Commitment”, such other instrument as is reasonably satisfactory to the Administrative Agent)
pursuant to which such Lender assumed its Revolving Credit Commitment, as applicable, as the same
may be (a) reduced from time to time pursuant to Section 2.09 and (b) reduced or increased from
time to time pursuant to assignments by or to such Lender pursuant to Section 9.04.

     “Revolving Credit Exposure” shall mean, with respect to any Lender at any time, the aggregate
principal amount at such time of all outstanding Revolving Loans of such Lender, plus the aggregate
amount at such time of such Lender’s L/C Exposure, plus the aggregate amount at such time of such
Lender’s Swingline Exposure.

     “Revolving Credit Lender” shall mean a Lender with a Revolving Credit Commitment or an
outstanding Revolving Loan.

     “Revolving Credit Maturity Date” shall mean January 12, 2012.

     “Revolving Loans” shall mean the revolving loans made by the Lenders to the Borrower pursuant
to clause (ii) of Section 2.01(a).

     “Secured Parties” shall have the meaning assigned to such term in any Security Document.

     “Securities Act” shall mean the U.S. Securities Act of 1933, as amended.

     “Security” shall mean a mortgage, charge, pledge, lien, assignment or other security interest
securing any obligation of any person or any other agreement or arrangement having a similar
effect.

     “Security Documents” shall mean the Mortgages, the Guarantee Agreement, the Norwegian
Guarantee Agreement, the Pledge and Security Agreement (U.S.), the Pledge and Security Agreement
(Canada), the Share Pledge Agreements, the Intercreditor Agreement and each of the security
agreements, mortgages and other instruments and documents executed and delivered pursuant to any of
the foregoing or pursuant to Section 5.21, together with any other document entered into by any
Obligor creating or expressed to create any Security over all or any part of its assets in respect
of the obligations of any of the Obligors under any of the Finance Documents.

     “Sercel Company” means (a) Sercel S.A., a French limited liability corporation (registration
number 378 040 497 RCS Nantes), (b) Sercel Inc., a Texas corporation, (c) Sercel Holding, (d)
Sercel Australia Pty Ltd, an Australian company, (e) Sercel Canada Ltd, a Canadian company, and/or
(f) any successor by merger of any of the foregoing.

     “Sercel Holding Equity Issuance” shall mean any Equity Issuance by Sercel Holding.

 

33

     “Sercel Holding” means any holding company (including Sercel Holding S.A., a French limited
liability corporation (registration number 866 800 756 RCS Nantes) that holds all of the
outstanding capital stock of either or both of Sercel S.A., a French limited liability corporation
(registration number 378 040 497 RCS Nantes), and Sercel Inc., a Texas corporation (other than
directors’ qualifying shares and capital stock held by other statutorily required minority
shareholders), and that does not hold any capital stock in any other Subsidiary.

     “Share Pledge Agreements” shall mean the share pledge agreements, each dated January 12, 2007,
between the applicable pledgor and the Collateral Agent in respect of the applicable Shares,
substantially in the form of Exhibit H.

     “Shares” shall mean all the issued shares owned by any Obligor in the capital of (i) each
Subsidiary that is a “Guarantor” under and as defined in the Existing Bond Indenture, (ii) the
Borrower (prior to the Merger), (iii) Merger Sub, (iv) the Borrower (subsequent to the Merger), (v)
each first-tier material subsidiary of any Obligor and (vi) each Domestic Subsidiary; provided,
however, that, to the extent that the pledge of any greater percentage would result in a material
adverse tax consequence to any Obligor, no
more than 65% of the voting Equity Interests of any Foreign Subsidiary will constitute
“Shares”; provided further that, to the extent that the constitutional documents of or contractual
arrangements relating to such subsidiary restrict or prohibit any transfer of its Equity Interests
or the granting or enforcement of Transaction Security (as such constitutional documents or
contractual arrangements are in effect on the Closing Date or, if later, the date on which such
Equity Interests are acquired by the applicable Obligor or Obligors, so long as such restriction or
prohibition was not created in contemplation of such acquisition), only such Equity Interests (if
any) that may be pledged without violating such constitutional documents or such contractual
arrangements will constitute “Shares”.

     “Solvent” shall have the meaning assigned to such term in Section 3.07(a).

     “SPC” shall have the meaning assigned to such term in Section 9.04(i).

     “S&P” shall mean Standard & Poor’s Ratings Service, or any successor thereto.

     “Statutory Reserves” shall mean a fraction (expressed as a decimal), the numerator of which is
the number one and the denominator of which is the number one minus the aggregate of the maximum
reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed
as a decimal established by the Board and any other banking authority, domestic or foreign, to
which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting
office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation
D of the Board). Eurodollar Loans shall be deemed to constitute Eurocurrency Liabilities as
defined in Regulation D of the Board) 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 any Lender under such Regulation D. Statutory Reserves shall be

 

34

adjusted automatically on and as
of the effective date of any change in any reserve percentage.

     “subsidiary” shall mean, with respect to any person (herein referred to as the “parent”), any
corporation, partnership, limited liability company, association or other business entity (a) of
which securities or other ownership interests representing more than 50% of the ordinary voting
power or more than 50% of the general partnership interests are, at the time any determination is
being made, owned, Controlled or held, or (b) that is, at the time any determination is made,
otherwise consolidated in the financial statements of the parent in accordance with IFRS.

     “Subsidiary” shall mean any subsidiary of Parent.

     “Swingline Commitment” shall mean the commitment of the Swingline Lender to make loans
pursuant to Section 2.22, as the same may be reduced from time to time pursuant to Section 2.09.

     “Swingline Exposure” shall mean, at any time, the aggregate principal amount at such time of
all outstanding Swingline Loans. The Swingline Exposure of any Revolving Credit Lender at any time
shall equal its Pro Rata Percentage of the aggregate Swingline Exposure at such time.

     “Swingline Lender” shall mean Credit Suisse, acting through any of its Affiliates or branches,
in its capacity as lender of Swingline Loans hereunder.

     “Swingline Loan” shall mean any loan made by the Swingline Lender pursuant to Section 2.22.

     “Synergies Implementation Plan” shall mean a plan implemented by Parent and its Subsidiaries
to realize the $65,000,000 announced synergies in connection with the Merger.

     “Target Convertible Notes” shall mean the existing Convertible Senior Notes due 2024 of the
Target.

     “Target Group” shall mean the Target and its subsidiaries.

     “Target Required Cash Amount” shall mean the aggregate amount of cash that Parent or the
Borrower will have to pay to the holders of the Target Convertible Notes outstanding on the Closing
Date upon conversion of all such Target
Convertible Notes pursuant to the terms of the Supplemental
Indenture governing such Target Convertible Notes; provided that such amount shall not exceed the
fair market value of 3,000,000 shares (or the corresponding amount of Parent’s American Depositary
Shares) as of the Closing Date.

     “Target Share Repurchase Amount” shall mean the aggregate amount of common or perpetual
preferred Equity Interests (or the corresponding amount of Parent’s American Depositary Shares)
that Parent will have to issue to the holders of the Target Convertible Notes outstanding on the
Closing Date upon conversion of all such Target Convertible Notes pursuant to the terms of the
Supplemental Indenture governing such Target

 

35

Convertible Notes (or the corresponding amount of
Parent’s American Depositary Shares); provided that such amount shall not exceed 3,000,000 shares
(or the corresponding amount of Parent’s American Depositary Shares).

     “Tax
Deduction” shall mean a deduction or withholding for or on account of Tax from a payment under a Finance Document.

     “Taxes” shall mean any and all present or future taxes, levies, imposts, duties, deductions,
charges or withholdings imposed by any Governmental Authority.

     “Term Borrowing” shall mean a Borrowing comprised of Term Loans.

     “Term Lender” shall mean a Lender with a Term Loan Commitment or an outstanding Term Loan.

     “Term Loan Commitment” shall mean, with respect to each Lender, the commitment of such Lender
to make Term Loans hereunder as set forth on Schedule 2.01, or in the Assignment and Acceptance or
Incremental Assumption Agreement pursuant to which such Lender assumed its Term Loan Commitment, as
applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 and (b)
reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to
Section 9.04. Unless the context shall otherwise require, the term “Term Loan Commitments” shall
include the Incremental Term Loan Commitments.

     “Term Loan Maturity Date” shall mean January 12, 2014.

     “Term Loans” shall mean the term loans made by the Lenders to the Borrower pursuant to clause
(i) of Section 2.01(a). Unless the context shall otherwise require, the term “Term Loans” shall
include any Incremental Term Loans.

     “Total Interest Costs” shall mean, with respect to any person for any period, the sum, without
duplication, of the following: (a) the consolidated interest expense of such person and its
subsidiaries for such period, whether paid or accrued (including, without limitation, amortization
of original issue discount, non-cash interest payments, the interest component of any deferred
payment obligations, the interest component of all payments associated with capital lease
obligations, commissions, discounts and other fees and charges incurred in respect of letter of
credit or bankers’ acceptance financings, and net of all payments made or received (if any)
pursuant to Treasury Transactions in respect of interest rates but excluding amortization of debt
issuance costs and non-cash charges other than any non-cash interest expenses related to
convertible bonds) and (b) the consolidated interest expense of such person and its restricted
Subsidiaries that was capitalized during such period.

     “Total Leverage Ratio” shall mean the ratio of Total Net Debt (denominated in euro) and
divided by the euro/dollar closing exchange rate for the Relevant Period (as indicated in Parent’s
consolidated financial statements relating to the period ending on

 

36

the last day of such Relevant
Period) to EBITDA (denominated in euro) and divided by the euro/dollar average exchange rate for
the Relevant Period (as indicated in Parent’s consolidated financial statements relating to the
period ending on the last day of such Relevant Period); provided that to the extent any Permitted
Disposal or any Permitted Acquisition has occurred during the Relevant Period, Total Leverage Ratio
shall be determined for the such Relevant Period on a pro forma basis for such occurrences.

     “Total Net Debt” shall mean, at any time (without double counting), the aggregate
indebtedness, after deducting Cash of Parent, in respect of (a) moneys borrowed in respect of bank
debt (including, for the avoidance of doubt, the Bridge Facility and the
French Revolving Facility); (b) all amounts outstanding under any Finance Document; (c) any
amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan
stock or any similar instrument; (d) any amount raised pursuant to any issue of shares which are
expressed to be redeemable and all obligations to purchase, retire, defease or otherwise acquire
for value any share capital of any person or any warrants, rights or options to acquire such share
capital before such date in respect of transactions which, in each such case, have the commercial
effect of a borrowing or which finance a member of the Group or the Group’s operations or capital
requirements; (e) the amount of any liability in respect of any Capital Lease Obligations; (f) the
amount of any liability in respect of any advance or deferred purchase agreement if the primary
reason for entering into such agreement is to raise finance; (g) receivables sold or discounted
(other than on a non-recourse basis); (h) any agreement or option to re-acquire an asset if the
primary reason for entering into such agreement or option is to raise finance; and (i) any amount
raised under any other transaction (including any forward sale or purchase agreement) having the
commercial effect of a borrowing, except for financing by trade creditors; provided that any
indebtedness for or in respect of any Permitted Guarantee shall not be included in the calculation
of “Total Net Debt” hereunder to the extent such indebtedness is not due and payable.

     “Total Revolving Credit Commitment” shall mean, at any time, the aggregate amount of the
Revolving Credit Commitments, as in effect at such time. The initial Total Revolving Credit
Commitment is $115,000,000 (it being understood and agreed that the Total Revolving Credit
Commitment may be increased to an amount not to exceed $140,000,000 at any time and from time to
time by written notice from the Borrower to the Administrative Agent, and that any such increase in
the Total Revolving Credit Commitment will not reduce or otherwise affect the Incremental Amount;
provided that such of the provisions of Section 2.24 as the Administrative Agent may determine in
its reasonable discretion shall apply mutatis mutandis to any such increase in the Total Revolving
Credit Commitment).

     “Transaction Documents” shall mean the Merger Documents and the Finance Documents.

     “Transaction Security” shall mean the Security granted in favor of the Finance Parties by any
Obligor pursuant to each Security Document.

 

37

     “Transactions” shall mean, collectively, (a) the execution, delivery and performance by Parent
and the Borrower of the Merger Agreement and the consummation of the transactions contemplated
thereby, (b) the execution, delivery and performance by Parent and the guarantors party thereto of
the Bridge Facility Agreement and the French Revolving Facility Agreement and the making of the
borrowings thereunder, (c) the execution, delivery and performance by the Obligors of the Finance
Documents to which they are a party and the making of the Borrowings hereunder, (d) the repayment
of all amounts due or outstanding under or in respect of, and the
termination of, the Existing Credit Agreement and the Existing Target Credit Agreement (e) any
payment of the Target Required Cash Amount, (f) any repurchase of Parent’s common or perpetual
preferred Equity Interests (including, without limitation, Parent’s American Depositary Shares)
permitted under Section 6.12(b)(vii) and (g) the payment of related fees and expenses.

     “Treasury Transaction” shall mean any derivative transaction entered into pursuant to a
Hedging Agreement in connection with protection against or benefit from fluctuation in any rate or
price.

     “Type”, when used in respect of any Loan or Borrowing, shall refer to the Rate by reference to
which interest on such Loan or on the Loans comprising such Borrowing is determined. For purposes
hereof, the term “Rate” shall mean the Adjusted LIBO Rate and the Alternate Base Rate.

     “Unpaid Sum” shall mean any sum due and payable but unpaid by an Obligor under the Finance
Documents.

     “USA PATRIOT Act” shall mean The Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56
(signed into law October 26, 2001)).

     “U.S. GAAP” shall mean generally accepted accounting principles in the United States.

     “U.S. Group Member” shall mean any member of the Group that is incorporated, resident or with
its principal place of business in the United States of America, any state thereof or the District
of Columbia, or which owns or leases property or otherwise conducts business in the United States
of America, any state thereof or the District of Columbia.

     “U.S. Person” shall mean a “United States Person” as defined in Section 7701(a)(30) of the
Code and includes the sole owner of any entity that is disregarded as being an entity separate from
such owner for U.S. federal income tax purposes.

     “U.S. Qualifying Lender” shall mean a Lender which either (i) is a U.S. Person or (b) is not a
U.S. Person but is entitled to complete exemption from withholding of U.S. federal income tax on
interest payable to it in respect of any Loan.

 

38

     “Voluntary Prepayment” shall mean a prepayment of principal of Term Loans pursuant to Section
2.12 in any year (other than any such prepayment to the extent financed with the proceeds of
Financial Indebtedness, equity issuances, casualty proceeds, condemnation proceeds or other
proceeds that would not be included in
Consolidated EBITDA) to the extent that such prepayment reduces the scheduled installments of
principal due in respect of Term Loans as set forth in Section 2.11(a) in any subsequent year.

     “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete
or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle
E of Title IV of ERISA.

     “wholly owned Subsidiary” of any person shall mean a subsidiary of such person of which
securities (except for directors’ qualifying shares) or other ownership interests representing 100%
of the Equity Interests are, at the time any determination is being made, owned, Controlled or held
by such person or one or more wholly owned Subsidiaries of such person or by such person and one or
more wholly owned Subsidiaries of such person.

     SECTION 1.02. Terms Generally. The definitions in Section 1.01 shall apply equally to both
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”; and the
words “asset” and “property” shall be construed as having the same meaning and effect and to refer
to any and all tangible and intangible assets and properties, including cash, securities, accounts
and contract rights. All references herein to Articles, Sections, Exhibits and Schedules shall be
deemed references to Articles and Sections of, and Exhibits and Schedules to, this Agreement unless
the context shall otherwise require. Except as otherwise expressly provided herein, (a) any
reference in this Agreement to any Finance Document shall mean such document as amended, restated,
supplemented or otherwise modified from time to time and (b) to the extent not otherwise provided
herein, all terms of an accounting or financial nature shall be construed in accordance with IFRS,
as in effect from time to time; provided, however, that if the Borrower notifies the Administrative
Agent that the Borrower wishes to amend any covenant in Article VI or any related definition to
eliminate the effect of any change in IFRS occurring after the date of this Agreement on the
operation of such covenant (or if the Administrative Agent notifies the Borrower that the Majority
Lenders wish to amend Article VI or any related definition for such purpose), then the Borrower’s
compliance with such covenant shall be determined on the basis of IFRS in effect immediately before
the relevant change in IFRS became effective, until either such notice is withdrawn or such
covenant is amended in a manner satisfactory to the Borrower and the Majority Lenders. Unless a
contrary indication appears, any reference in this Agreement to (i) the “Administrative Agent”, the
“Collateral Agent”, any “Arranger”, any “Finance Party”, any “Lender” or any “Obligor” shall be
construed so as to include its successors in title, permitted assigns and permitted transferees;
(ii) “assets” includes present and future properties, revenues and rights of every description;
(iii) “corporate

 

39

reconstruction” includes in relation to any company any contribution of part of its business
in consideration of shares (apport partiel d’actifs) and any demerger (scission) implemented in
accordance with articles L.236-1 to L.236-24 of the French Code de Commerce; any merger and any
transmission universelle de patrimoine; (iv) a “Finance Document” or any other agreement or
instrument is a reference to that Finance Document or other agreement or instrument as amended,
modified, supplemented, replaced or novated; (v) a “guarantee” includes any “cautionnement”, “aval”
and any “garantie” which is independent from the debt to which it relates; (vi) “indebtedness”
includes any obligation (whether incurred as principal or as surety) for the payment or repayment
of money, whether present or future, actual or contingent; (vii) “merger” includes any fusion
implemented in accordance with articles L.236-1 to L.236-24 of the French Code de Commerce or any
merger implemented in accordance with the Delaware General Corporation Law; (viii) a “regulation”
includes any regulation, rule, official directive, request or guideline (whether or not having the
force of law but if not having the force of law, compliance with which is customary for the persons
to whom it is addressed) of any governmental, intergovernmental or supranational body, agency,
department or regulatory, self-regulatory or other authority or organization; and (ix) a “security
interest” includes any type of security (sûreté réelle) and transfer by way of security. Unless a
contrary indication appears, a term used in any other Finance Document or in any notice given under
or in connection with any Finance Document has the same meaning in that Finance Document or notice
as in this Agreement. A Default (including an Event of Default) is “continuing” if it has not been
remedied or waived.

     SECTION 1.03. Classification of Loans and Borrowings. For purposes of this Agreement, Loans
may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a
“Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency Revolving Loan”). Borrowings also
may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a
“Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency Revolving Borrowing”).

     SECTION 1.04. Intercreditor Agreement. This Agreement shall be read and construed in
accordance with the terms of the Intercreditor Agreement. In the case of any inconsistency between
the terms of this Agreement and the Intercreditor Agreement, the terms of the Intercreditor
Agreement shall prevail.

ARTICLE II

The Credits

     SECTION 2.01. Commitments. (a) Subject to the terms and conditions and relying upon the
representations and warranties herein set forth, each Lender agrees, severally and not jointly, (i)
to make a Term Loan to the Borrower on the Closing Date in a principal amount not to exceed its
Term Loan Commitment, and (ii) to make Revolving Loans to the Borrower, at any time and from time
to time on and after the date hereof,
and until the earlier of the Revolving Credit Maturity Date and the termination of the
Revolving Credit Commitment of such Lender in accordance with the terms hereof, in an aggregate
principal amount at any time outstanding that will not result in such Lender’s Revolving Credit
Exposure exceeding such Lender’s

 

40

Revolving Credit Commitment. Within the limits set forth in clause
(ii) of the preceding sentence and subject to the terms, conditions and limitations set forth
herein, the Borrower may borrow, pay or prepay and reborrow Revolving Loans. Amounts paid or
prepaid in respect of Term Loans may not be reborrowed.

     (b) Each Lender having an Incremental Term Loan Commitment agrees, severally and not jointly,
subject to the terms and conditions and relying upon the representations and warranties set forth
herein and in the applicable Incremental Assumption Agreement to make Incremental Term Loans to the
Borrower, in an aggregate principal amount not to exceed its Incremental Term Loan Commitment.
Amounts paid or prepaid in respect of Incremental Term Loans may not be reborrowed.

     SECTION 2.02. Loans. (a) Each Loan (other than Swingline Loans) shall be made as part of a
Borrowing consisting of Loans made by the Lenders ratably in accordance with their applicable
Commitments; provided, however, that the failure of any Lender to make any Loan shall not in itself
relieve any other Lender of its obligation to lend hereunder (it being understood, however, that no
Lender shall be responsible for the failure of any other Lender to make any Loan required to be
made by such other Lender). Except for Loans deemed made pursuant to Section 2.02(f), the Loans
comprising any Borrowing shall be in an aggregate principal amount that is (i) an integral multiple
of $1,000,000 and not less than $5,000,000 (except, with respect to any Incremental Term Borrowing,
to the extent otherwise provided in the related Incremental Assumption Agreement) or (ii) equal to
the remaining available balance of the applicable Commitments.

     (b) Subject to Sections 2.02(f), 2.08 and 2.15, each Borrowing shall be comprised entirely of
ABR Loans or Eurodollar Loans as the Borrower may request pursuant to Section 2.03. Each Lender may
at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of
such Lender to make such Loan; provided that, subject to Section 2.21(b), any exercise of such
option shall not affect the obligation of the Borrower to repay such Loan in accordance with the
terms of this Agreement. Borrowings of more than one Type may be outstanding at the same time;
provided, however, that no Borrower shall be entitled to request any Borrowing that, if made, would
result in more than 10 Eurodollar Borrowings outstanding hereunder at any time. For purposes of the
foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the
same date, shall be considered separate Borrowings.

     (c) Except with respect to Loans made pursuant to Section 2.02(f), each Lender shall make each
Loan to be made by it hereunder on the proposed date thereof by wire
transfer of immediately available funds to such account in New York City as the Administrative
Agent may designate not later than 1:00 p.m., New York City time, and the Administrative Agent
shall promptly credit the amounts so received to an account designated by the Borrower in the
applicable Borrowing Request or, if a Borrowing shall not occur on such date because any condition
precedent herein specified shall not have been met, return the amounts so received to the
respective Lenders.

 

41

     (d) Unless the Administrative Agent shall have received notice from a Lender prior to the date
of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s
portion of such Borrowing, the Administrative Agent may assume that such Lender has made such
portion available to the Administrative Agent on the date of such Borrowing in accordance with
paragraph (c) above and the Administrative Agent may, in reliance upon such assumption, make
available to the Borrower on such date a corresponding amount. If the Administrative Agent shall
have so made funds available then, to the extent that such Lender shall not have made such portion
available to the Administrative Agent, such Lender and the Borrower severally agree to repay to the
Administrative Agent forthwith on demand such corresponding amount together with interest thereon,
for each day from the date such amount is made available to the Borrower to but excluding the date
such amount is repaid to the Administrative Agent at (i) in the case of the Borrower, a rate per
annum equal to the interest rate applicable at the time to the Loans comprising such Borrowing and
(ii) in the case of such Lender, a rate determined by the Administrative Agent to represent its
cost of overnight or short-term funds (which determination shall be conclusive absent manifest
error). If such Lender shall repay to the Administrative Agent such corresponding amount, such
amount shall constitute such Lender’s Loan as part of such Borrowing for purposes of this
Agreement.

     (e) Notwithstanding any other provision of this Agreement, no Borrower shall be entitled to
request any Revolving Credit Borrowing if the Interest Period requested with respect thereto would
end after the Revolving Credit Maturity Date.

     (f) If the Issuing Bank shall not have received from the Borrower the payment required to be
made by Section 2.23(e) within the time specified in such Section, the Issuing Bank will promptly
notify the Administrative Agent of the L/C Disbursement and the Administrative Agent will promptly
notify each Revolving Credit Lender of such L/C Disbursement and its Pro Rata Percentage thereof.
Each such Revolving Credit Lender shall pay by wire transfer of immediately available funds to the
Administrative Agent not later than 2:00 p.m., New York City time, on such date (or, if such
Revolving Credit Lender shall have received such notice later than 12:00 (noon), New York City
time, on any day, not later than 10:00 a.m., New York City time, on the immediately following
Business Day), an amount equal to such Lender’s Pro Rata Percentage of such L/C Disbursement (it
being understood that (i) if the conditions precedent to borrowing set forth in Sections 4.01(b)
and (c) have been satisfied, such amount shall be deemed to
constitute an ABR Revolving Loan of such Lender and, to the extent of such payment, the
obligations of the Borrower in respect of such L/C Disbursement shall be discharged and replaced
with the resulting ABR Revolving Credit Borrowing, and (ii) if such conditions precedent to
borrowing have not been satisfied, then any such amount paid by any Revolving Credit Lender shall
not constitute a Loan and shall not relieve the Borrower from its obligation to reimburse such L/C
Disbursement), and the Administrative Agent will promptly pay to the Issuing Bank amounts so
received by it from the Revolving Credit Lenders. The Administrative Agent will promptly pay to the
Issuing Bank any amounts received by it from the Borrower pursuant to Section 2.23(e) prior to the
time that any Revolving Credit Lender makes any payment pursuant to this paragraph (f); any such
amounts received by the Administrative Agent thereafter will be

 

42

promptly remitted by the
Administrative Agent to the Revolving Credit Lenders that shall have made such payments and to the
Issuing Bank, as their interests may appear. If any Revolving Credit Lender shall not have made its
Pro Rata Percentage of such L/C Disbursement available to the Administrative Agent as provided
above, such Lender and the Borrower severally agree to pay interest on such amount, for each day
from and including the date such amount is required to be paid in accordance with this paragraph to
but excluding the date such amount is paid, to the Administrative Agent for the account of the
Issuing Bank at (i) in the case of the Borrower, a rate per annum equal to the interest rate
applicable to Revolving Loans pursuant to Section 2.06(a), and (ii) in the case of such Lender, for
the first such day, the Federal Funds Effective Rate, and for each day thereafter, the Alternate
Base Rate.

     SECTION 2.03. Borrowing Procedure. In order to request a Borrowing (other than a Swingline
Loan or a deemed Borrowing pursuant to Section 2.02(f), as to which this Section 2.03 shall not
apply), the Borrower shall notify the Administrative Agent of such request by telephone (a) in the
case of a Eurodollar Borrowing, not later than 12:00 noon, New York City time, two Business Days
before a Borrowing to occur on the Closing Date and three Business Days before a proposed Borrowing
to occur on any date thereafter, and (b) in the case of an ABR Borrowing, not later than 12:00
noon, New York City time, one Business Day before a proposed Borrowing. Each such telephonic
Borrowing Request shall be irrevocable, and shall be confirmed promptly by hand delivery or fax to
the Administrative Agent of a written Borrowing Request and shall specify the following
information: (i) whether the Borrowing then being requested is to be a Term Borrowing, a Revolving
Credit Borrowing or an Incremental Term Borrowing, and whether such Borrowing is to be a Eurodollar
Borrowing or an ABR Borrowing (provided that, until the Administrative Agent shall have notified
the Borrower that the primary syndication of the Commitments has been completed (which notice shall
be given as promptly as practicable and, in any event, within 15 Business Days after the Closing
Date), the Borrower shall not be permitted to request a Eurodollar Borrowing with an Interest
Period longer than one month); (ii) the date of such Borrowing (which shall be a Business Day);
(iii) the number and location of the account to which funds are to be disbursed; (iv) the amount of
such Borrowing; and (v) if such Borrowing is to be a
Eurodollar Borrowing, the Interest Period with respect thereto; provided, however, that,
notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall
comply with the requirements set forth in Section 2.02. If no election as to the Type of Borrowing
is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no
Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the
Borrower shall be deemed to have selected an Interest Period of one month’s duration. The
Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to
this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested
Borrowing.

     SECTION 2.04. Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally
promises to pay to the Administrative Agent for the account of each Lender (i) the principal amount
of each Term Loan of such Lender as provided in Section 2.11 and (ii) the then unpaid principal
amount of each Revolving Loan of such Lender on the Revolving Credit Maturity Date. The Borrower
hereby promises to pay to

 

43

the Swingline Lender the then unpaid principal amount of each Swingline
Loan on the Revolving Credit Maturity Date.

     (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such
Lender from time to time, including the amounts of principal and interest payable and paid to such
Lender from time to time under this Agreement.

     (c) The Administrative Agent shall maintain accounts in which it will record (i) the amount of
each Loan made hereunder, the Class and Type thereof and, if applicable, the Interest Period
applicable thereto, (ii) the amount of any principal or interest due and payable or to become due
and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by
the Administrative Agent hereunder from the Borrower or any Guarantor and each Lender’s share
thereof.

     (d) The entries made in the accounts maintained pursuant to paragraphs (b) and (c) above
shall, absent manifest error, be prima facie evidence of the existence and amounts of the
obligations therein recorded; provided, however, that the failure of any Lender or the
Administrative Agent to maintain such accounts or any error therein shall not in any manner affect
the obligations of the Borrower to repay the Loans in accordance with their terms.

     (e) Any Lender may request that Loans made by it hereunder be evidenced by a promissory note.
In such event, the Borrower shall execute and deliver to such Lender a promissory note payable to
such Lender and its registered assigns and in a form and substance reasonably acceptable to the
Administrative Agent and the Borrower. Notwithstanding any other provision of this Agreement, in
the event any Lender shall request and receive such a promissory note, the interests represented by
such note shall at all times (including after any assignment of all or part of such interests
pursuant to
Section 9.04) be represented by one or more promissory notes payable to the payee named
therein or its registered assigns.

     SECTION 2.05. Fees. (a) The Borrower agrees to pay to each Lender, through the
Administrative Agent, on the last Business Day of March, June, September and December in each year
and on each date on which any Revolving Credit Commitment of such Lender shall expire or be
terminated as provided herein, a commitment fee (the “Commitment Fee”) equal to the Applicable
Percentage per annum in effect from time to time on the daily unused amount of the Revolving Credit
Commitment of such Lender during the preceding quarter (or other period commencing with the date
hereof or ending with the Revolving Credit Maturity Date or the date on which the Revolving Credit
Commitments of such Lender shall expire or be terminated). All Commitment Fees shall be computed
on the basis of the actual number of days elapsed in a year of 360 days. For purposes of
calculating Commitment Fees only, no portion of the Revolving Credit Commitments shall be deemed
utilized as a result of outstanding Swingline Loans.

 

44

     (b) The Borrower agrees to pay to the Administrative Agent, for its own account, the
administrative fees set forth in the Fee Letter at the times and in the amounts specified therein
(the “Administrative Agent Fees”).

     (c) The Borrower agrees to pay (i) to each Revolving Credit Lender, through the Administrative
Agent, on the last Business Day of March, June, September and December of each year and on the date
on which the Revolving Credit Commitment of such Lender shall be terminated as provided herein, a
fee (an “L/C Participation Fee”) calculated on such Lender’s Pro Rata Percentage of the daily
aggregate L/C Exposure (excluding the portion thereof attributable to unreimbursed L/C
Disbursements) during the preceding quarter (or shorter period commencing with the date hereof or
ending with the Revolving Credit Maturity Date or the date on which all Letters of Credit have been
canceled or have expired and the Revolving Credit Commitments of all Lenders shall have been
terminated) at a rate per annum equal to the Applicable Percentage from time to time used to
determine the interest rate on Revolving Credit Borrowings comprised of Eurodollar Loans pursuant
to Section 2.06, and (ii) to the Issuing Bank with respect to each Letter of Credit the standard
fronting, issuance and drawing fees specified from time to time by the Issuing Bank (the “Issuing
Bank Fees”), provided that the fronting fees payable in respect of any Letter of Credit shall not
exceed 0.25% per annum of the daily undrawn amount of such Letter of Credit. All L/C Participation
Fees and Issuing Bank Fees shall be computed on the basis of the actual number of days elapsed in a
year of 360 days.

     (d) All Fees shall be paid on the dates due, in immediately available funds, to the
Administrative Agent for distribution, if and as appropriate, among the Lenders, except that the
Issuing Bank Fees shall be paid directly to the Issuing Bank. Once paid, none of the Fees shall be
refundable under any circumstances.

     SECTION 2.06. Interest on Loans. (a) Subject to the provisions of Section 2.07, the Loans
comprising each ABR Borrowing, including each Swingline Loan, shall bear interest (computed on the
basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when
the Alternate Base Rate is determined by reference to the Prime Rate and over a year of 360 days at
all other times and calculated from and including the date of such Borrowing to but excluding the
date of repayment thereof) at a rate per annum equal to the Alternate Base Rate plus the Applicable
Percentage in effect from time to time.

     (b) Subject to the provisions of Section 2.07, the Loans comprising each Eurodollar Borrowing
shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360
days) at a rate per annum equal to the Adjusted LIBO Rate for the Interest Period in effect for
such Borrowing plus the Applicable Percentage in effect from time to time.

     (c) Interest on each Loan shall be payable on the Interest Payment Dates applicable to such
Loan except as otherwise provided in this Agreement. The applicable Alternate Base Rate or Adjusted
LIBO Rate for each Interest Period or day within an

 

45

Interest Period, as the case may be, shall be
determined by the Administrative Agent, and such determination shall be conclusive absent manifest
error.

     SECTION 2.07. Default Interest. If the Borrower shall default in the payment of any principal
of or interest on any Loan or any other amount due hereunder, by acceleration or otherwise, or
under any other Finance Document, then, until such defaulted amount shall have been paid in full,
to the extent permitted by law, all amounts outstanding under this Agreement and the other Finance
Documents shall bear interest (after as well as before judgment), payable on demand, (a) in the
case of principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus
2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the
actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined
by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate
that would be applicable to an ABR Revolving Loan plus 2.00% per annum.

     SECTION 2.08. Alternate Rate of Interest. In the event, and on each occasion, that on the day
two Business Days prior to the commencement of any Interest Period for a Eurodollar Borrowing the
Administrative Agent shall have determined that dollar deposits in the principal amounts of the
Loans comprising such Borrowing are not generally available in the London interbank market, or that
the rates at which such dollar deposits are being offered will not adequately and fairly reflect
the cost to any Lender of making or maintaining its Eurodollar Loan during such Interest Period, or
that reasonable means do not exist for ascertaining the Adjusted LIBO Rate, the Administrative
Agent shall, as soon as practicable thereafter, give written or fax notice of such determination to
the Borrower and the Lenders. In the event of any such determination, until the Administrative
Agent shall have advised the Borrower and the Lenders that the
circumstances giving rise to such notice no longer exist, any request by the Borrower for a
Eurodollar Borrowing pursuant to Section 2.03 or 2.10 shall be deemed to be a request for an ABR
Borrowing. Each determination by the Administrative Agent under this Section 2.08 shall be
conclusive absent manifest error.

     SECTION 2.09. Termination and Reduction of Commitments. (a) The Term Loan Commitments (other
than any Incremental Term Loan Commitments, which shall terminate as provided in the related
Incremental Assumption Agreement) shall automatically terminate upon the making of the Term Loans
on the Closing Date. The Revolving Credit Commitments and the Swingline Commitment shall
automatically terminate on the Revolving Credit Maturity Date. The L/C Commitment shall
automatically terminate on the earlier to occur of (i) the termination of the Revolving Credit
Commitments and (ii) the date five Business Days prior to the Revolving Credit Maturity Date.
Notwithstanding the foregoing, all the Commitments shall automatically terminate at 5:00 p.m., New
York City time, on January 31, 2007, if the initial Credit Event shall not have occurred by such
time.

     (b) Upon at least three Business Days’ prior irrevocable written or fax notice to the
Administrative Agent, the Borrower may at any time in whole permanently terminate, or from time to
time in part permanently reduce, the Term Loan Commitments, the Revolving Credit Commitments or the
Swingline Commitment; provided, however, that

 

46

(i) each partial reduction of the Term Loan
Commitments or the Revolving Credit Commitments shall be in an integral multiple of $1,000,000 and
in a minimum amount of $5,000,000, (ii) each partial reduction of the Swingline Commitment shall be
in an integral multiple of $250,000 and in a minimum amount of $1,000,000 and (iii) the Total
Revolving Credit Commitment shall not be reduced to an amount that is less than the Aggregate
Revolving Credit Exposure at the time.

     (c) Each reduction in the Term Loan Commitments or the Revolving Credit Commitments hereunder
shall be made ratably among the Lenders in accordance with their respective applicable Commitments.
The Borrower shall pay to the Administrative Agent for the account of the applicable Lenders, on
the date of each termination or reduction, the Commitment Fees on the amount of the Commitments so
terminated or reduced accrued to but excluding the date of such termination or reduction.

     SECTION 2.10. Conversion and Continuation of Borrowings. The Borrower shall have the right at
any time upon prior irrevocable notice to the Administrative Agent (a) not later than 12:00 noon,
New York City time, one Business Day prior to conversion, to convert any Eurodollar Borrowing into
an ABR Borrowing, (b) not later than 12:00 noon, New York City time, three Business Days prior to
conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue
any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not
later than 12:00 noon, New York City time, three Business Days prior to conversion, to
convert the Interest Period with respect to any Eurodollar Borrowing to another permissible
Interest Period, subject in each case to the following:

     (i) until the Administrative Agent shall have notified the Borrower that the primary
syndication of the Commitments has been completed (which notice shall be given as promptly
as practicable and, in any event, within 15 Business Days after the Closing Date), no ABR
Borrowing may be converted into a Eurodollar Borrowing with an Interest Period longer than
one month;

     (ii) each conversion or continuation shall be made pro rata among the Lenders in
accordance with the respective principal amounts of the Loans comprising the converted or
continued Borrowing;

     (iii) if less than all the outstanding principal amount of any Borrowing shall be
converted or continued, then each resulting Borrowing shall satisfy the limitations
specified in Sections 2.02(a) and 2.02(b) regarding the principal amount and maximum number
of Borrowings of the relevant Type;

     (iv) each conversion shall be effected by each Lender and the Administrative Agent by
recording for the account of such Lender the new Loan of such Lender resulting from such
conversion and reducing the Loan (or portion thereof) of such Lender being converted by an
equivalent principal amount; accrued interest on any Eurodollar Loan (or portion thereof)
being converted shall be paid by the Borrower at the time of conversion;

 

47

     (v) if any Eurodollar Borrowing is converted at a time other than the end of the
Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to
the Lenders pursuant to Section 2.16;

     (vi) any portion of a Borrowing maturing or required to be repaid in less than one
month may not be converted into or continued as a Eurodollar Borrowing;

     (vii) any portion of a Eurodollar Borrowing that cannot be converted into or continued
as a Eurodollar Borrowing by reason of the immediately preceding clause shall be
automatically converted at the end of the Interest Period in effect for such Borrowing into
an ABR Borrowing;

     (viii) no Interest Period may be selected for any Eurodollar Term Borrowing that would
end later than a Repayment Date occurring on or after the first day of such Interest Period
if, after giving effect to such selection, the aggregate outstanding amount of (A) the
Eurodollar Term Borrowings comprised of Term Loans or Other Term Loans, as applicable, with
Interest Periods ending on or prior to such Repayment Date and (B) the ABR Term Borrowings
comprised of Term Loans or Other Term Loans, as applicable, would not be at least
equal to the principal amount of Term Borrowings to be paid on such Repayment Date; and

     (ix) upon notice to the Borrower from the Administrative Agent given at the request of
the Majority Lenders, after the occurrence and during the continuance of a Default or Event
of Default, no outstanding Loan may be converted into, or continued as, a Eurodollar Loan.

     Each notice pursuant to this Section 2.10 shall be irrevocable and shall refer to this
Agreement and specify (i) the identity and amount of the Borrowing that the Borrower requests be
converted or continued, (ii) whether such Borrowing is to be converted to or continued as a
Eurodollar Borrowing or an ABR Borrowing, (iii) if such notice requests a conversion, the date of
such conversion (which shall be a Business Day) and (iv) if such Borrowing is to be converted to or
continued as a Eurodollar Borrowing, the Interest Period with respect thereto. If no Interest
Period is specified in any such notice with respect to any conversion to or continuation as a
Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one
month’s duration. The Administrative Agent shall advise the Lenders of any notice given pursuant to
this Section 2.10 and of each Lender’s portion of any converted or continued Borrowing. If the
Borrower shall not have given notice in accordance with this Section 2.10 to continue any Borrowing
into a subsequent Interest Period (and shall not otherwise have given notice in accordance with
this Section 2.10 to convert such Borrowing), such Borrowing shall, at the end of the Interest
Period applicable thereto (unless repaid pursuant to the terms hereof), automatically be continued
into an ABR Borrowing.

     SECTION
2.11. Repayment of Term Borrowings. (a) (i) The Borrower shall pay to the
Administrative Agent, for the account of the Lenders, on the dates set forth below,

 

48

or if any such
date is not a Business Day, on the next preceding Business Day (each such date being called a
"Repayment Date”), a principal amount of the Term Loans other than Other Term Loans (as adjusted
from time to time pursuant to Sections 2.11(b), 2.12, 2.13(f) and 2.24(d)) equal to the amount set
forth below for such date, together in each case with accrued and unpaid interest on the principal
amount to be paid to but excluding the date of such payment:

	 	 	 	 	 
	Repayment Date	 	Amount
	March 31, 2007
	 	$	2,500,000	 
	June 30, 2007
	 	$	2,500,000	 
	September 30, 2007
	 	$	2,500,000	 
	December 31, 2007
	 	$	2,500,000	 
	March 31, 2008
	 	$	2,500,000	 
	June 30, 2008
	 	$	2,500,000	 
	September 30, 2008
	 	$	2,500,000	 
	December 31, 2008
	 	$	2,500,000	 
	March 31, 2009
	 	$	2,500,000	 
	June 30, 2009
	 	$	2,500,000	 
	September 30, 2009
	 	$	2,500,000	 
	December 31, 2009
	 	$	2,500,000	 
	March 31, 2010
	 	$	2,500,000	 
	June 30, 2010
	 	$	2,500,000	 
	September 30, 2010
	 	$	2,500,000	 
	December 31, 2010
	 	$	2,500,000	 
	March 31, 2011
	 	$	2,500,000	 
	June 30, 2011
	 	$	2,500,000	 
	September 30, 2011
	 	$	2,500,000	 
	December 31, 2011
	 	$	2,500,000	 
	March 31, 2012
	 	$	2,500,000	 
	June 30, 2012
	 	$	2,500,000	 
	September 30, 2012
	 	$	2,500,000	 
	December 31, 2012
	 	$	2,500,000	 
	March 31, 2013
	 	$	2,500,000	 
	June 30, 2013
	 	$	2,500,000	 
	September 30, 2013
	 	$	2,500,000	 
	December 31, 2013
	 	$	2,500,000	 
	Term Loan Maturity Date
	 	$	930,000,000	 

     (ii) The Borrower shall pay to the Administrative Agent, for the account of the
Incremental Term Lenders, on each Incremental Term Loan Repayment Date, a principal amount
of the Other Term Loans (as adjusted from time to time pursuant to Sections 2.11(b), 2.12
and 2.13(f)) equal to the amount set forth for such date in the applicable Incremental
Assumption Agreement, together in each case with accrued and unpaid interest on the
principal amount to be paid to but excluding the date of such payment.

 

49

     (b) In the event and on each occasion that the Term Loan Commitments shall be reduced or shall
expire or terminate other than as a result of the making of a Term Loan, the installments payable
on each Repayment Date shall be reduced pro rata by an aggregate amount equal to the amount of such
reduction, expiration or termination.

     (c) To the extent not previously paid, all Term Loans and Other Term Loans shall be due and
payable on the Term Loan Maturity Date and the applicable Incremental Term Loan Maturity Date,
respectively, together with accrued and unpaid interest on the principal amount to be paid to but
excluding the date of payment.

     (d) All repayments pursuant to this Section 2.11 shall be subject to Section 2.16, but shall
otherwise be without premium or penalty.

     SECTION 2.12. Optional Prepayment. (a) The Borrower shall have the right at any time and
from time to time to prepay any Borrowing, in whole or in part, upon at least three Business Days’
prior written or fax notice (or telephone notice promptly confirmed by written or fax notice) in
the case of Eurodollar Loans, or written or fax notice (or telephone notice promptly confirmed by
written or fax notice) at least one Business Day prior to the date of prepayment in the case of ABR
Loans, to the Administrative Agent before 12:00 noon, New York City time; provided, however, that
each partial prepayment shall be in an amount that is an integral multiple of $1,000,000 and not
less than $5,000,000.

     (b) Optional prepayments of Term Loans shall be applied against the remaining scheduled
installments of principal due in respect of the Term Loans under Section 2.11 as directed by the
Borrower.

     (c) Each notice of prepayment shall specify (i) the prepayment date, (ii) the principal amount
of each Borrowing (or portion thereof) to be prepaid and (iii) the Class of Loans to be prepaid,
shall be irrevocable and shall commit the Borrower to prepay such Borrowing by the amount stated
therein on the date stated therein. All prepayments under this Section 2.12 shall be subject to
Section 2.16 but otherwise without premium or penalty. All prepayments under this Section 2.12
(other than prepayments of ABR Revolving Loans that are not made in connection with the termination
or permanent reduction of the Revolving Credit Commitments) shall be accompanied by accrued and
unpaid interest on the principal amount to be prepaid to but excluding the date of payment.

     SECTION 2.13. Mandatory Prepayments. (a) In the event of any termination of all the
Revolving Credit Commitments, the Borrower shall, on the date of such termination, repay or prepay
all its outstanding Revolving Credit Borrowings and all its outstanding Swingline Loans and replace
or cause to be canceled (or make other arrangements reasonably satisfactory to the Administrative
Agent and the Issuing Bank with respect to) all outstanding Letters of Credit. If, after giving
effect to any partial reduction of the Revolving Credit Commitments or at any other time, the
Aggregate Revolving Credit Exposure would exceed the Total Revolving Credit Commitment, then the
Borrower shall, on the date of such reduction or at such other time, repay or prepay

 

50

Revolving
Credit Borrowings or Swingline Loans (or a combination thereof) and, after such Revolving Credit
Borrowings and Swingline Loans shall have been repaid or prepaid in full, replace or cause to be
canceled (or make other arrangements reasonably satisfactory to the Administrative Agent and the
Issuing Bank with respect to) Letters of Credit in an amount sufficient to eliminate such excess.

     (b) Not later than the third Business Day following the receipt of Net Cash Proceeds in
respect of any Asset Sale, the Borrower shall apply 100% of the Net Cash Proceeds received with
respect thereto to prepay outstanding Term Loans in accordance with Section 2.13(f).

     (c) In the event and on each occasion that a Sercel Holding Equity Issuance occurs, the
Borrower shall, substantially simultaneously with (and in any event not later than the third
Business Day next following) the occurrence of such Sercel Holding Equity Issuance, apply 50% of
the Net Cash Proceeds therefrom to prepay outstanding Term Loans in accordance with Section
2.13(f).

     (d) No later than the earlier of (i) 180 days after the end of each Fiscal Year of Parent,
commencing with the Fiscal Year ending on December 31, 2007, and (ii) the date on which the
financial statements with respect to such period are delivered pursuant to Section 5.01(a), the
Borrower shall prepay outstanding Term Loans in accordance with Section 2.13(f) in an aggregate
principal amount equal to the excess, if any, of (x) (A) if the Total Leverage Ratio at the end the
Fiscal Year then ended was greater than or equal to 1.75 to 1.00, 50% Excess Cash Flow for such
Fiscal Year or (B) if the Total Leverage Ratio at the end of the Fiscal Year then ended was less
than 1.75 to 1.00, 25% of Excess Cash Flow for such Fiscal Year over (y) the aggregate amount of
Voluntary Prepayments made during (A) such Fiscal Year and (B) to the extent not applied under this
clause (y) to reduce the mandatory prepayment due under this paragraph (d) in respect of the
immediately preceding Fiscal Year, such immediately preceding Fiscal Year.

     (e) In the event that any Obligor or any subsidiary of an Obligor shall receive Net Cash
Proceeds from the issuance or incurrence of Financial Indebtedness for money borrowed of any
Obligor or any subsidiary of an Obligor (other than any cash proceeds from the issuance or
incurrence of Permitted Financial Indebtedness), the Borrower shall, substantially simultaneously
with (and in any event not later than the third Business Day next following) the receipt of such
Net Cash Proceeds by such Obligor or such subsidiary, apply an amount equal to 100% of such Net
Cash Proceeds to prepay outstanding Term Loans in accordance with Section 2.13(f).

     (f) Mandatory prepayments of outstanding Term Loans under this Agreement shall be allocated
pro rata between the Term Loans and the Other Term Loans and applied first, to prepay outstanding
Term Loans of the Term Lenders that accept the same (with each Term Lender being given the right to
elect, by notice to the Administrative Agent at or prior to the time and in the manner specified by
the Administrative Agent to decline all (but not a portion) of its pro rata share of such
prepayment (such declined amounts, the “Declined Proceeds”)). Any Declined Proceeds shall be
offered to the Term Lenders not so declining such prepayment (with such Term Lenders having the

 

51

right to decline any prepayment with Declined Proceeds at the time and in the manner specified by
the Administrative Agent). All such accepted prepayments shall be applied first to the unpaid
amounts due on the next succeeding six scheduled installments of principal due in respect of the
Term Loans and the Other Term Loans under Sections 2.11(a)(i) and 2.11(a)(ii), respectively, in
direct order of maturity, and then pro rata against the remaining scheduled installments of
principal due in respect of the Term Loans and the Other Term Loans under Sections 2.11(a)(i) and
2.11(a)(ii), respectively.
Funds that otherwise would have been applied to any such mandatory prepayments that are
rejected by the Term Lenders may be retained by the Borrower.

     (g) The Borrower shall deliver to the Administrative Agent, (i) at the time of each prepayment
required under this Section 2.13, a certificate signed by a Financial Officer of the Borrower
setting forth in reasonable detail the calculation of the amount of such prepayment and (ii) to the
extent practicable, at least five Business Days prior written notice of such prepayment. Each
notice of prepayment shall specify the prepayment date and the aggregate principal amount of Term
Loans to be prepaid. All prepayments of Borrowings under this Section 2.13 shall be subject to
Section 2.16, but shall otherwise be without premium or penalty, and shall be accompanied by
accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of
payment.

     SECTION 2.14. Reserve Requirements; Change in Circumstances. (a) Notwithstanding any other
provision of this Agreement, if any Change in Law shall impose, modify or deem applicable any
reserve, special deposit or similar requirement against assets of, deposits with or for the account
of or credit extended by any Lender or the Issuing Bank (except any such reserve requirement which
is reflected in the Adjusted LIBO Rate) or shall impose on such Lender or the Issuing Bank or the
London interbank market any other condition affecting this Agreement or Eurodollar Loans made by
such Lender or any Letter of Credit or participation therein, and the result of any of the
foregoing shall be to increase the cost to such Lender or the Issuing Bank of making or maintaining
any Eurodollar Loan or increase the cost to any Lender of issuing or maintaining any Letter of
Credit or purchasing or maintaining a participation therein or to reduce the amount of any sum
received or receivable by such Lender or the Issuing Bank hereunder (whether of principal, interest
or otherwise) by an amount deemed by such Lender or the Issuing Bank to be material, then the
Borrower will pay to such Lender or the Issuing Bank, as the case may be, upon demand such
additional amount or amounts as will compensate such Lender or the Issuing Bank, as the case may
be, for such additional costs incurred or reduction suffered.

     (b) If any Lender or the Issuing Bank shall have determined that any Change in Law regarding
capital adequacy has or would have the effect of reducing the rate of return on such Lender’s or
the Issuing Bank’s capital or on the capital of such Lender’s or the Issuing Bank’s holding
company, if any, as a consequence of this Agreement or the Loans made or participations in Letters
of Credit purchased by such Lender pursuant hereto or the Letters of Credit issued by the Issuing
Bank pursuant hereto to a level below that which such Lender or the Issuing Bank or such Lender’s
or the Issuing Bank’s holding company could have achieved but for such Change in Law (taking into

 

52

consideration such Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the
Issuing Bank’s holding company with respect to capital adequacy) by an amount deemed by such Lender
or the Issuing Bank to be material, then from time to
time the Borrower shall pay to such Lender or the Issuing Bank, as the case may be, such
additional amount or amounts as will compensate such Lender or the Issuing Bank or such Lender’s or
the Issuing Bank’s holding company for any such reduction suffered.

     (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts
necessary to compensate such Lender or the Issuing Bank or its holding company, as applicable, as
specified in paragraph (a) or (b) above shall be delivered to the Borrower and shall be conclusive
absent manifest error. The Borrower shall pay such Lender or the Issuing Bank the amount shown as
due on any such certificate delivered by it within 10 days after its receipt of the same.

     (d) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation for
any increased costs or reduction in amounts received or receivable or reduction in return on
capital shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such
compensation; provided that no Borrower shall be under any obligation to compensate any Lender or
the Issuing Bank under paragraph (a) or (b) above with respect to increased costs or reductions
with respect to any period prior to the date that is 120 days prior to such request if such Lender
or the Issuing Bank knew or could reasonably have been expected to know of the circumstances giving
rise to such increased costs or reductions and of the fact that such circumstances would result in
a claim for increased compensation by reason of such increased costs or reductions; provided
further that the foregoing limitation shall not apply to any increased costs or reductions arising
out of the retroactive application of any Change in Law within such 120-day period. The protection
of this Section shall be available to each Lender and the Issuing Bank regardless of any possible
contention of the invalidity or inapplicability of the Change in Law that shall have occurred or
been imposed.

     SECTION 2.15. Change in Legality. (a) Notwithstanding any other provision of this Agreement,
if any Change in Law shall make it unlawful for any Lender to make or maintain any Eurodollar Loan
or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan,
then, by written notice to the Borrower and to the Administrative Agent:

     (i) such Lender may declare that Eurodollar Loans will not thereafter (for the
duration of such unlawfulness) be made by such Lender hereunder (or be continued for
additional Interest Periods) and ABR Loans will not thereafter (for such duration) be
converted into Eurodollar Loans, whereupon any request for a Eurodollar Borrowing (or to
convert an ABR Borrowing to a Eurodollar Borrowing or to continue a Eurodollar Borrowing
for an additional Interest Period) shall, as to such Lender only, be deemed a request for
an ABR Loan (or a request to continue an ABR Loan as such for an additional Interest Period
or to convert a Eurodollar Loan into an ABR Loan, as the case may be), unless such
declaration shall be subsequently withdrawn; and

 

53

               (ii) such Lender may require that all outstanding Eurodollar Loans made by it be
converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically
converted to ABR Loans as of the effective date of such notice as provided in paragraph (b)
below.

In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and
prepayments of principal that would otherwise have been applied to repay the Eurodollar Loans that
would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead
be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion
of, such Eurodollar Loans.

     (b) For purposes of this Section 2.15, a notice to the Borrower by any Lender shall be
effective as to each Eurodollar Loan made by such Lender, if lawful, on the last day of the
Interest Period then applicable to such Eurodollar Loan; in all other cases such notice shall be
effective on the date of receipt by the Borrower.

     SECTION 2.16. Indemnity. The Borrower shall indemnify each Lender against any loss or expense
that such Lender may sustain or incur as a consequence of (a) any event, other than a default by
such Lender in the performance of its obligations hereunder, which results in (i) such Lender
receiving or being deemed to receive any amount on account of the principal of any Eurodollar Loan
prior to the end of the Interest Period in effect therefor, (ii) the conversion of any Eurodollar
Loan to an ABR Loan, or the conversion of the Interest Period with respect to any Eurodollar Loan,
in each case other than on the last day of the Interest Period in effect therefor, or (iii) any
Eurodollar Loan to be made by such Lender (including any Eurodollar Loan to be made pursuant to a
conversion or continuation under Section 2.10) not being made after notice of such Loan shall have
been given by the Borrower hereunder (any of the events referred to in this clause (a) being called
a “Breakage Event”) or (b) any default in the making of any payment or prepayment required to be
made hereunder. In the case of any Breakage Event, such loss shall include an amount equal to the
excess, as reasonably determined by such Lender, of (i) its cost of obtaining funds for the
Eurodollar Loan that is the subject of such Breakage Event for the period from the date of such
Breakage Event to the last day of the Interest Period in effect (or that would have been in effect)
for such Loan over (ii) the amount of interest likely to be realized by such Lender in redeploying
the funds released or not utilized by reason of such Breakage Event for such period. A certificate
of any Lender setting forth any amount or amounts which such Lender is entitled to receive pursuant
to this Section 2.16 shall be delivered to the Borrower and shall be conclusive absent manifest
error.

     SECTION 2.17. Pro Rata Treatment. Except as provided below in this Section 2.17 with respect
to Swingline Loans and as required under Section 2.15, each Borrowing, each payment or prepayment
of principal of any Borrowing, each payment of interest on the Loans, each payment of the
Commitment Fees, each reduction of the Term Loan Commitments or the Revolving Credit Commitments
and each conversion of any
Borrowing to or continuation of any Borrowing as a Borrowing of any Type shall be allocated
pro rata among the Lenders in accordance with their respective applicable Commitments (or, if such
Commitments shall have expired or been terminated, in

 

54

accordance with the respective principal
amounts of their outstanding Loans). For purposes of determining the available Revolving Credit
Commitments of the Lenders at any time, each outstanding Swingline Loan shall be deemed to have
utilized the Revolving Credit Commitments of the Lenders (including those Lenders which shall not
have made Swingline Loans) pro rata in accordance with such respective Revolving Credit
Commitments. Each Lender agrees that in computing such Lender’s portion of any Borrowing to be made
hereunder, the Administrative Agent may, in its discretion, round each Lender’s percentage of such
Borrowing to the next higher or lower whole dollar amount.

     SECTION 2.18. Sharing of Setoffs. Each Lender agrees that if it shall, through the exercise
of a right of banker’s lien, setoff or counterclaim against the Borrower or any other Obligor, or
pursuant to a secured claim under Section 506 of Title 11 of the United States Code or other
security or interest arising from, or in lieu of, such secured claim, received by such Lender under
any applicable bankruptcy, insolvency or other similar law or otherwise, or by any other means,
obtain payment (voluntary or involuntary) in respect of any Loan or Loans or L/C Disbursement as a
result of which the unpaid principal portion of its Loans and participations in L/C Disbursements
shall be proportionately less than the unpaid principal portion of the Loans and participations in
L/C Disbursements of any other Lender, it shall be deemed simultaneously to have purchased from
such other Lender at face value, and shall promptly pay to such other Lender the purchase price
for, a participation in the Loans and L/C Exposure of such other Lender, so that the aggregate
unpaid principal amount of the Loans and L/C Exposure and participations in Loans and L/C Exposure
held by each Lender shall be in the same proportion to the aggregate unpaid principal amount of all
Loans and L/C Exposure then outstanding as the principal amount of its Loans and L/C Exposure prior
to such exercise of banker’s lien, setoff or counterclaim or other event was to the principal
amount of all Loans and L/C Exposure outstanding prior to such exercise of banker’s lien, setoff or
counterclaim or other event; provided, however, that if any such purchase or purchases or
adjustments shall be made pursuant to this Section 2.18 and the payment giving rise thereto shall
thereafter be recovered, such purchase or purchases or adjustments shall be rescinded to the extent
of such recovery and the purchase price or prices or adjustment restored without interest. The
Borrower and Parent expressly consent to the foregoing arrangements and agree that any Lender
holding a participation in a Loan or L/C Disbursement deemed to have been so purchased may exercise
any and all rights of banker’s lien, setoff or counterclaim with respect to any and all moneys
owing by the Borrower and Parent to such Lender by reason thereof as fully as if such Lender had
made a Loan directly to the Borrower in the amount of such participation.

     SECTION 2.19. Payments. (a) The Borrower shall make each payment (including principal of or
interest on any Borrowing or any L/C Disbursement or any Fees or other amounts) hereunder and under
any other Finance Document not later than 12:00 (noon), New York City time, on the date when due in
immediately available dollars, without setoff, defense or counterclaim. Each such payment (other
than (i) Issuing Bank Fees, which shall be paid directly to the Issuing Bank, and (ii) principal of
and interest on Swingline Loans, which shall be paid directly to the Swingline Lender except as
otherwise provided in Section 2.22(e)) shall be made to the Administrative

 

55

Agent at its offices at
Eleven Madison Avenue, New York, NY 10010. The Administrative Agent shall promptly distribute to
each Lender any payments received by the Administrative Agent on behalf of such Lender.

     (b) Except as otherwise expressly provided herein, whenever any payment (including principal
of or interest on any Borrowing or any Fees or other amounts) hereunder or under any other Finance
Document shall become due, or otherwise would occur, on a day that is not a Business Day, such
payment may be made on the next succeeding Business Day, and such extension of time shall in such
case be included in the computation of interest or Fees, if applicable.

     SECTION 2.20. Taxes. (a) Any and all payments by or on account of any obligation of the
Borrower or any other Obligor hereunder or under any other Finance Document shall be made free and
clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that, if the
Borrower or any other Obligor shall be required to deduct any Indemnified Taxes or Other Taxes from
such payments, then (i) the sum payable shall be increased as necessary so that after making all
required deductions (including deductions applicable to additional sums payable under this Section)
the Administrative Agent, Lender or Issuing Bank (as the case may be) receives an amount equal to
the sum it would have received had no such deductions been made, (ii) the Borrower or such Obligor
shall make such deductions and (iii) the Borrower or such Obligor shall pay the full amount
deducted to the relevant Governmental Authority in accordance with applicable law.

     (b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law.

     (c) The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing Bank,
within 10 days after written demand therefor, for the full amount of any Indemnified Taxes or Other
Taxes paid by the Administrative Agent, such Lender or the Issuing Bank, as the case may be, on or
with respect to any payment by or on account of any obligation of the Borrower or any other Obligor
hereunder or under any other Finance Document (including Indemnified Taxes or Other Taxes imposed
or asserted on or attributable to amounts payable under this Section) and any penalties, interest
and reasonable out-of-pocket expenses arising therefrom or with respect thereto (other than any
sums arising solely as a result of the misconduct or negligence of the Administrative
Agent, such Lender or the Issuing Bank, as the case may be), whether or not such Indemnified
Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by
a Lender or the Issuing Bank, or by the Administrative Agent on behalf of itself, a Lender or the
Issuing Bank, shall be conclusive absent manifest error. In the event that any sums are returned
to the Administrative Agent, a Lender or the Issuing Bank by the relevant Governmental Authority in
respect of any Indemnified Taxes, Other Taxes, penalties, interests or other amounts referred to in
this paragraph (c) for which the Borrower has indemnified the Administrative Agent, such Lender or
the Issuing Bank, the Administrative Agent, such Lender or the Issuing Bank, as applicable, will
promptly return such sums to the

 

56

Borrower. This Section 2.20(c) shall not apply to any Taxes to
the extent the Borrower or any Obligor has made a payment in respect of such Taxes pursuant to
Section 2.20(b).

     (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the
Borrower or any other Obligor to a Governmental Authority, the Borrower shall deliver to the
Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of
such payment reasonably satisfactory to the Administrative Agent.

     (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which the Borrower is located, or any treaty to which such
jurisdiction is a party, with respect to payments under this Agreement shall deliver to the
Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable
law, such properly completed and executed documentation prescribed by applicable law or reasonably
requested by the Borrower as will permit such payments to be made without withholding or at a
reduced rate.

     SECTION 2.21. Assignment of Commitments Under Certain Circumstances; Duty to Mitigate. (a)
In the event (i) any Lender or the Issuing Bank delivers a certificate requesting compensation
pursuant to Section 2.14, (ii) any Lender or the Issuing Bank delivers a notice described in
Section 2.15, (iii) the Borrower is required to pay any additional amount to any Lender or the
Issuing Bank or any Governmental Authority on account of any Lender or the Issuing Bank pursuant to
Section 2.20, (iv) any Lender refuses to consent to any amendment, waiver or other modification of
any Finance Document requested by the Borrower that requires the consent of a greater percentage of
the Lenders than the Majority Lenders and such amendment, waiver or other modification is consented
to by the Majority Lenders or (v) any Lender becomes a Defaulting Lender, the Borrower may, at its
sole expense and effort (including with respect to the processing and recordation fee referred to
in Section 9.04(b)), upon notice to such Lender or the Issuing Bank, as the case may be, and the
Administrative Agent, require such Lender or the Issuing Bank to transfer and assign, without
recourse (in
accordance with and subject to the restrictions contained in Section 9.04), all of its
interests, rights and obligations under this Agreement (or, in the case of clause (iv) above, all
of its interests, rights and obligations with respect to the Class of Loans or Commitments that is
the subject of the related consent, amendment, waiver or other modification) to an assignee that
shall assume such assigned obligations and, with respect to clause (iv) above, shall consent to
such requested amendment, waiver or other modification of any Finance Documents (which assignee may
be another Lender, if a Lender accepts such assignment); provided that (x) such assignment shall
not conflict with any law, rule or regulation or order of any court or other Governmental Authority
having jurisdiction, (y) the Borrower shall have received the prior written consent of the
Administrative Agent (and, if a Revolving Credit Commitment is being assigned, of the Issuing Bank
and the Swingline Lender), which consents shall not unreasonably be withheld or delayed, and (z)
the Borrower or such assignee shall have paid to the affected Lender or the Issuing Bank in
immediately available funds an amount equal to the sum of the principal of and interest accrued to
the date of such payment on the outstanding Loans

 

57

or L/C Disbursements of such Lender or the
Issuing Bank, respectively, plus all Fees and other amounts accrued for the account of such Lender
or the Issuing Bank hereunder with respect thereto (including any amounts under Sections 2.14 and
2.16); provided further that, if prior to any such transfer and assignment the circumstances or
event that resulted in such Lender’s or the Issuing Bank’s claim for compensation under Section
2.14, notice under Section 2.15 or the amounts paid pursuant to Section 2.20, as the case may be,
cease to cause such Lender or the Issuing Bank to suffer increased costs or reductions in amounts
received or receivable or reduction in return on capital, or cease to have the consequences
specified in Section 2.15, or cease to result in amounts being payable under Section 2.20, as the
case may be (including as a result of any action taken by such Lender or the Issuing Bank pursuant
to paragraph (b) below), or if such Lender or the Issuing Bank shall waive its right to claim
further compensation under Section 2.14 in respect of such circumstances or event or shall withdraw
its notice under Section 2.15 or shall waive its right to further payments under Section 2.20 in
respect of such circumstances or event or shall consent to the proposed amendment, waiver, consent
or other modification, as the case may be, then such Lender or the Issuing Bank shall not
thereafter be required to make any such transfer and assignment hereunder. Each Lender hereby
grants to the Administrative Agent an irrevocable power of attorney (which power is coupled with an
interest) to execute and deliver, on behalf of such Lender as assignor, any Assignment and
Acceptance necessary to effectuate any assignment of such Lender’s interests hereunder in the
circumstances contemplated by this
Section 2.21(a).

     (b) If (i) any Lender or the Issuing Bank shall request compensation under Section 2.14, (ii)
any Lender or the Issuing Bank delivers a notice described in Section 2.15 or (iii) the Borrower is
required to pay any additional amount to any Lender or the Issuing Bank or any Governmental
Authority on account of any Lender or the Issuing Bank, pursuant to Section 2.20, then such Lender
or the Issuing Bank shall use reasonable efforts (which shall not require such Lender or the
Issuing Bank to incur an
unreimbursed loss or unreimbursed cost or expense or otherwise take any action inconsistent
with its internal policies or legal or regulatory restrictions or suffer any disadvantage or burden
deemed by it to be significant) (x) to file any certificate or document reasonably requested in
writing by the Borrower or (y) to assign its rights and delegate and transfer its obligations
hereunder to another of its offices, branches or affiliates, if such filing or assignment would
reduce its claims for compensation under Section 2.14 or enable it to withdraw its notice pursuant
to Section 2.15 or would reduce amounts payable pursuant to Section 2.20, as the case may be, in
the future. The Borrower hereby agrees to pay all reasonable out-of-pocket costs and expenses
incurred by any Lender or the Issuing Bank in connection with any such filing or assignment,
delegation and transfer.

     SECTION 2.22. Swingline Loans. (a) Swingline Commitment. Subject to the terms and
conditions and relying upon the representations and warranties herein set forth, the Swingline
Lender agrees to make loans to the Borrower at any time and from time to time on and after the
Closing Date and until the earlier of the Revolving Credit Maturity Date and the termination of the
Revolving Credit Commitments, in an aggregate principal amount at any time outstanding that will
not result in (i) the aggregate principal amount of all Swingline Loans exceeding $25,000,000 in
the aggregate or (ii) the Aggregate

 

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Revolving Credit Exposure, after giving effect to any Swingline
Loan, exceeding the Total Revolving Credit Commitment. Each Swingline Loan shall be in a principal
amount that is an integral multiple of $1,000,000. The Swingline Commitment may be terminated or
reduced from time to time as provided herein. Within the foregoing limits, the Borrower may borrow,
pay or prepay and reborrow Swingline Loans hereunder, subject to the terms, conditions and
limitations set forth herein.

     (b) Swingline Loans. The Borrower shall notify the Swingline Lender by fax, or by telephone
(promptly confirmed by fax), not later than 12:00 noon, New York City time, on the day of a
proposed Swingline Loan. Such notice shall be delivered on a Business Day, shall be irrevocable
and shall refer to this Agreement and shall specify the requested date (which shall be a Business
Day) and amount of such Swingline Loan and the wire transfer instructions for the account of the
Borrower to which the proceeds of such Swingline Loan should be disbursed. The Swingline Lender
shall make each Swingline Loan by wire transfer to the account specified in such request.

     (c) Prepayment. The Borrower shall have the right at any time and from time to time to prepay
any Swingline Loan, in whole or in part, upon giving written or fax notice (or telephone notice
promptly confirmed by written, or fax notice) to the Swingline Lender before 12:00 (noon), New York
City time, on the date of prepayment at the Swingline Lender’s address for notices specified in
Section 9.01.

     (d) Interest. Each Swingline Loan shall be an ABR Loan and, subject to the provisions of
Section 2.07, shall bear interest as provided in Section 2.06(a).

     (e) Participations. The Swingline Lender may by written notice given to the Administrative
Agent not later than 1:00 p.m., New York City time, on any Business Day require the Revolving
Credit Lenders to acquire participations on such Business Day in all or a portion of the Swingline
Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which such
Revolving Credit Lenders will participate. The Administrative Agent will, promptly upon receipt of
such notice, give notice to each such Revolving Credit Lender, specifying in such notice such
Lender’s Pro Rata Percentage of such Swingline Loan or Loans. In furtherance of the foregoing, each
Revolving Credit Lender hereby absolutely and unconditionally agrees, upon receipt of notice as
provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such
Revolving Credit Lender’s Pro Rata Percentage of such Swingline Loan or Loans. Each Revolving
Credit Lender acknowledges and agrees that its obligation to acquire participations in Swingline
Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including the occurrence and continuance of a Default or an Event of
Default, and that each such payment shall be made without any offset, abatement, withholding or
reduction whatsoever. Each Revolving Credit Lender shall comply with its obligation under this
paragraph by wire transfer of immediately available funds, in the same manner as provided in
Section 2.02(c) with respect to Loans made by such Lender (and Section 2.02(c) shall apply, mutatis
mutandis, to the payment obligations of the Lenders) and the Administrative Agent shall promptly
pay to the Swingline Lender the amounts so received by it from the Lenders. The Administrative
Agent shall notify the Borrower of

 

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any participations in any Swingline Loan acquired pursuant to
this paragraph and thereafter payments in respect of such Swingline Loan shall be made to the
Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender
from the Borrower (or other person on behalf of the Borrower) in respect of a Swingline Loan after
receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be
promptly remitted to the Administrative Agent; any such amounts received by the Administrative
Agent shall be promptly remitted by the Administrative Agent to the Lenders that shall have made
their payments pursuant to this paragraph and to the Swingline Lender, as their interests may
appear. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not
relieve the Borrower (or other person liable for obligations of the Borrower) of any default in the
payment thereof.

     SECTION 2.23. Letters of Credit. (a) General. The Borrower may request the issuance of a
Letter of Credit for its own account or for the account of any of its wholly owned Subsidiaries (in
which case the Borrower and such wholly owned Subsidiary shall be co-applicants with respect to
such Letter of Credit), in a form reasonably acceptable to the Administrative Agent and the Issuing
Bank, at any time and from time to time on and after the Closing Date and prior to the date that is
30 days prior to the Revolving Credit Maturity Date while the L/C Commitment remains in effect.
This Section shall not be
construed to impose an obligation upon the Issuing Bank to issue any Letter of Credit that is
inconsistent with the terms and conditions of this Agreement.

     (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. In order to
request the issuance of a Letter of Credit (or to amend, renew or extend an existing Letter of
Credit), the Borrower shall hand deliver or fax to the Issuing Bank and the Administrative Agent
(reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice
requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended,
renewed or extended, the date of issuance, amendment, renewal or extension, the date on which such
Letter of Credit is to expire (which shall comply with paragraph (c) below), 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 such Letter of Credit. A Letter of Credit shall be issued, amended,
renewed or extended only if, and upon issuance, amendment, renewal or extension of each Letter of
Credit the Borrower shall be deemed to represent and warrant that, after giving effect to such
issuance, amendment, renewal or extension (i) the L/C Exposure shall not exceed $75,000,000 and
(ii) the Aggregate Revolving Credit Exposure shall not exceed the Total Revolving Credit
Commitment.

     (c) Expiration Date. Each Letter of Credit shall expire at the close of business on the
earlier of the date one year after the date of the issuance of such Letter of Credit and the date
that is five Business Days prior to the Revolving Credit Maturity Date, unless such Letter of
Credit expires by its terms on an earlier date; provided, however, that a Letter of Credit may,
upon the request of the Borrower, include a provision whereby such Letter of Credit shall be
renewed automatically for additional consecutive periods of 12 months or less (but not beyond the
date that is five Business Days prior to the Revolving Credit Maturity Date) unless the Issuing
Bank notifies the beneficiary

 

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thereof at least 30 days (or such longer period as may be specified
in such Letter of Credit) prior to the then-applicable expiration date that such Letter of Credit
will not be renewed.

     (d) Participations. By the issuance of a Letter of Credit and without any further action on
the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Revolving
Credit Lender, and each such Lender hereby acquires from the Issuing Bank, a participation in such
Letter of Credit equal to such Lender’s Pro Rata Percentage of the aggregate amount available to be
drawn under such Letter of Credit, effective upon the issuance of such Letter of Credit (or, in the
case of the Existing Letters of Credit, effective upon the Closing Date). In consideration and in
furtherance of the foregoing, each Revolving Credit Lender hereby absolutely and unconditionally
agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Lender’s Pro
Rata Percentage of each L/C Disbursement made by the Issuing Bank and not reimbursed by the
Borrower (or, if applicable, another party pursuant to its obligations under any other Finance
Document) forthwith on the date due as provided in Section 2.02(f). Each
Revolving Credit Lender acknowledges and agrees that its obligation to acquire participations
pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall
not be affected by any circumstance whatsoever, including the occurrence and continuance of a
Default or an Event of Default, and that each such payment shall be made without any offset,
abatement, withholding or reduction whatsoever.

     (e) Reimbursement. If the Issuing Bank shall make any L/C Disbursement in respect of a Letter
of Credit, the Borrower shall pay to the Administrative Agent an amount equal to such L/C
Disbursement not later than two hours after the Borrower shall have received notice from the
Issuing Bank that payment of such draft will be made, or, if the Borrower shall have received such
notice later than 10:00 a.m., New York City time, on any Business Day, not later than 10:00 a.m.,
New York City time, on the immediately following Business Day.

     (f) Obligations Absolute. The Borrower’s obligations to reimburse L/C Disbursements as
provided in paragraph (e) above shall be absolute, unconditional and irrevocable, and shall be
performed strictly in accordance with the terms of this Agreement, under any and all circumstances
whatsoever, and irrespective of:

     (i) any lack of validity or enforceability of any Letter of Credit or any Finance
Document, or any term or provision therein;

     (ii) any amendment or waiver of or any consent to departure from all or any of the
provisions of any Letter of Credit or any Finance Document;

     (iii) the existence of any claim, setoff, defense or other right that the Borrower,
any other party guaranteeing, or otherwise obligated with, the Borrower, any Subsidiary or
other Affiliate thereof or any other person may at any time have against the beneficiary
under any Letter of Credit, the Issuing Bank, the Administrative Agent or any Lender or any
other person, whether in

 

61

connection with this Agreement, any other Finance Document or any
other related or unrelated agreement or transaction (other than payment in full of the
Obligations);

     (iv) any draft or other document presented under a Letter of Credit proving to be
forged, fraudulent, invalid or insufficient in any respect or any statement therein being
untrue or inaccurate in any respect;

     (v) payment by the Issuing Bank under a Letter of Credit against presentation of a
draft or other document that does not comply with the terms of such Letter of Credit; and

     (vi) any other act or omission to act or delay of any kind of the Issuing Bank, the
Lenders, the Administrative Agent or any other person or 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 the Borrower’s
obligations hereunder.

     Without limiting the generality of the foregoing, it is expressly understood and agreed that
the absolute and unconditional obligation of the Borrower hereunder to reimburse L/C Disbursements
will not be excused by the gross negligence or wilful misconduct of the Issuing Bank. However, the
foregoing shall not be construed to excuse the Issuing Bank 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 Issuing Bank’s gross negligence or wilful misconduct in determining whether
drafts and other documents presented under a Letter of Credit comply with the terms thereof. It is
further understood and agreed that the Issuing Bank may accept documents that appear on their face
to be in order, without responsibility for further investigation, regardless of any notice or
information to the contrary and, in making any payment under any Letter of Credit (i) the Issuing
Bank’s exclusive reliance on the documents presented to it under such Letter of Credit as to any
and all matters set forth therein, including reliance on the amount of any draft presented under
such Letter of Credit, whether or not the amount due to the beneficiary thereunder equals the
amount of such draft and whether or not any document presented pursuant to such Letter of Credit
proves to be insufficient in any respect, if such document on its face appears to be in order, and
whether or not any other statement or any other document presented pursuant to such Letter of
Credit proves to be forged or invalid or any statement therein proves to be inaccurate or untrue in
any respect whatsoever and (ii) any noncompliance in any immaterial respect of the documents
presented under such Letter of Credit with the terms thereof shall, in each case, be deemed not to
constitute gross negligence or wilful misconduct of the Issuing Bank.

     (g) Disbursement Procedures. The Issuing Bank shall, promptly following its receipt thereof,
examine all documents purporting to represent a demand for payment under a Letter of Credit. The
Issuing Bank shall as promptly as possible give telephonic notification, confirmed by fax, to the
Administrative Agent and the Borrower of such

 

62

demand for payment and whether the Issuing Bank has
made or will make an L/C 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 Issuing Bank
and the Revolving Credit Lenders with respect to any such L/C Disbursement.

     (h) Interim Interest. If the Issuing Bank shall make any L/C Disbursement in respect of a
Letter of Credit, then, unless the Borrower shall reimburse such L/C Disbursement in full on such
date, the unpaid amount thereof shall bear interest for the account of the Issuing Bank, for each
day from and including the date of such L/C Disbursement, to but excluding the earlier of the date
of payment by the Borrower or the date on which interest shall commence to accrue thereon as
provided in Section 2.02(f), at the rate per annum that would apply to such amount if such amount
were an ABR Revolving Loan.

     (i) Resignation or Removal of the Issuing Bank. The Issuing Bank may resign at any time by
giving 30 days’ prior written notice to the Administrative Agent, the Lenders and the Borrower, and
may be removed at any time by the Borrower by notice to the Issuing Bank, the Administrative Agent
and the Lenders. Upon the acceptance of any appointment as the Issuing Bank hereunder by a Lender
that shall agree to serve as successor Issuing Bank, such successor shall succeed to and become
vested with all the interests, rights and obligations of the retiring Issuing Bank. At the time
such removal or resignation shall become effective, the Borrower shall pay all accrued and unpaid
fees pursuant to Section 2.05(c)(ii). The acceptance of any appointment as the Issuing Bank
hereunder by a successor Lender shall be evidenced by an agreement entered into by such successor,
in a form satisfactory to the Borrower and the Administrative Agent, and, from and after the
effective date of such agreement, (i) such successor Lender shall have all the rights and
obligations of the previous Issuing Bank under this Agreement and the other Finance Documents and
(ii) references herein and in the other Finance Documents to the term “Issuing Bank” shall be
deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all
previous Issuing Banks, as the context shall require. After the resignation or removal of the
Issuing Bank hereunder, the retiring Issuing Bank shall remain a party hereto and shall continue to
have all the rights and obligations of an Issuing Bank under this Agreement and the other Finance
Documents with respect to Letters of Credit issued by it prior to such resignation or removal, but
shall not be required to issue additional Letters of Credit.

     (j) Cash Collateralization. If any Event of Default shall occur and be continuing, the
Borrower shall, within one Business Day after it receives notice from the Administrative Agent or
the Majority Lenders (or, if the maturity of the Loans has been accelerated, Revolving Credit
Lenders holding participations in outstanding Letters of Credit representing greater than 50% of
the aggregate undrawn amount of all outstanding Letters of Credit) thereof and of the amount to be
deposited, deposit in an account with the Collateral Agent, for the benefit of the Revolving Credit
Lenders, an amount in cash equal to the L/C Exposure as of such date. Such deposit shall be held by
the Collateral Agent as collateral for the payment and performance of the Obligations. The
Collateral Agent shall have exclusive dominion and control, including the exclusive right of
withdrawal, over such account. Other than any interest earned on the investment of such

 

63

deposits
in Cash Equivalent Investments, which investments shall be made at the option and sole discretion
of the Collateral Agent, such deposits shall not bear interest. Interest or profits, if any, on
such investments shall accumulate in such account. Moneys in such account shall (i) automatically
be applied by the Administrative Agent to reimburse the Issuing Bank for L/C Disbursements for
which it has not been reimbursed, (ii) be held for the satisfaction of the reimbursement
obligations of the Borrower for the L/C Exposure at such time and (iii) if the maturity of the
Loans has been accelerated (but subject to the consent of Revolving Credit Lenders holding
participations in outstanding Letters of Credit representing greater than 50% of the aggregate
undrawn amount of all outstanding Letters of Credit), be applied to satisfy the Obligations. If the
Borrower is required to provide an amount of cash collateral hereunder as a result of the
occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be
returned to the Borrower within three Business Days after all Events of Default have been cured or
waived.

     (k) Additional Issuing Banks. The Borrower may, at any time and from time to time with the
consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed)
and such Lender, designate one or more additional Lenders to act as an issuing bank under the terms
of this Agreement. Any Lender designated as an issuing bank pursuant to this paragraph (k) shall be
deemed to be an “Issuing Bank” (in addition to being a Lender) in respect of Letters of Credit
issued or to be issued by such Lender, and, with respect to such Letters of Credit, such term shall
thereafter apply to the other Issuing Bank and such Lender.

     SECTION 2.24. Incremental Commitments. (a) The Borrower may, by written notice to the
Administrative Agent from time to time, request Incremental Term Loan Commitments and/or additional
Revolving Credit Commitments in an amount not to exceed the Incremental Amount from one or more
Incremental Term Lenders or persons who will become Revolving Credit Lenders (which may include any
existing Lender); provided that each such person shall be subject to the approval of the
Administrative Agent (which approval shall not be unreasonably withheld or delayed). Such notice
shall set forth (i) the amount of the Incremental Term Loan Commitments and/or additional Revolving
Credit Commitments being requested (which (i) in the case of Incremental Term Loan Commitments,
shall be in minimum principal amounts of $20,000,000 or, if lower, equal to the remaining
Incremental Amount, and (ii) in the case of additional Revolving Credit Commitments, shall be in
minimum principal amounts of $5,000,000 or, if lower, equal to the remaining Incremental Amount),
(ii) the date on which such Incremental Term Loan Commitments and/or additional Revolving Credit
Commitments are requested to become effective (which shall not be less than 10 Business Days nor
more than 60 days after the date of such notice), and (iii) in the case of Incremental Term Loan
Commitments, whether such Incremental Term Loan Commitments are commitments to make additional Term
Loans or commitments to make term loans with terms different from the Term Loans (“Other Term
Loans”).

     (b) The Borrower and each Incremental Term Lender and/or additional Revolving Credit Lender
shall execute and deliver to the Administrative Agent an Incremental Assumption Agreement and such
other documentation as the Administrative

 

64

Agent shall reasonably specify to evidence the Commitment
of such Lender. Each Incremental Assumption Agreement in respect of Incremental Term Loan
Commitments shall specify the terms of the Incremental Term Loans to be made thereunder; provided
that, without the prior written consent of the Required Lenders, (i) the Other Term Loans shall
rank pari passu or junior in right of payment and of security with the Term Loans and (except as to
pricing and amortization) shall have the same terms as the Term Loans, (ii) the final maturity date
of any Other Term Loans shall be no earlier than the Term Loan Maturity Date, (iii) the weighted
average life to maturity of any Other Term Loans shall be no shorter than the weighted average life
to maturity of the Term Loans and (iv) if the initial yield on such Other Term Loans (as determined
by the Administrative Agent to be equal to the sum of (x) the margin above the Adjusted LIBO Rate
on such Other Term Loans and (y) if such Other Term Loans are initially made at a discount or the
Lenders making the same receive a fee directly or indirectly from the Borrower or any Subsidiary
for doing so (the amount of such discount or fee, expressed as a percentage of the Other Term
Loans, being referred to herein as “OID”), the amount of
such OID divided by the lesser of (A) the average life to maturity of such Other Term Loans
and (B) four) exceeds by more than 50 basis points (the amount of such excess above 50 basis points
being referred to herein as the “Yield Differential”) the Applicable Percentage then in effect for
Eurodollar Term Loans, then the Applicable Percentage then in effect for Term Loans shall
automatically be increased by the Yield Differential, effective upon the making of the Other Term
Loans. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each
Incremental Assumption Agreement. Each of the parties hereto hereby agrees that, upon the
effectiveness of any Incremental Assumption Agreement, this Agreement shall be deemed amended to
the extent (but only to the extent) necessary to reflect the existence and terms of the Incremental
Term Loan Commitments and/or additional Revolving Credit Commitments evidenced thereby.

     (c) Notwithstanding the foregoing, no Incremental Term Loan Commitment or additional Revolving
Credit Commitment shall become effective under this Section 2.24 unless (i) on the date of such
effectiveness, the conditions set forth in paragraphs (b) and (c) of Section 4.01 shall be
satisfied and the Administrative Agent shall have received a certificate to that effect dated such
date and executed by a Responsible Officer of the Borrower, (ii) the Administrative Agent shall
have received legal opinions, board resolutions and other closing certificates and documentation
reasonably requested by the Administrative Agent and consistent with those delivered on the Closing
Date under Section 4.02 and such additional documents and filings (including amendments to the
Mortgages and other Security Documents and title endorsement bringdowns) as the Administrative
Agent may reasonably require to assure that the Incremental Term Loans, and/or additional Revolving
Loans are secured by the Collateral ratably with the existing Term Loans and Revolving Loans and
(iii) the Borrower would be in pro forma compliance with Section 6.02(a) and (b) after giving
effect to (x) in the case of Incremental Term Loan Commitments, the Incremental Term Loans to be
made thereunder and the application of the proceeds therefrom as if made and applied on such date,
and (y) in the case of additional Revolving Credit Commitments, the Revolving Loans (if any) to be
made thereunder on the date of effectiveness of such Commitment and the application of the proceeds
therefrom on such date.

 

65

     (d) Each of the parties hereto hereby agrees that the Administrative Agent may, in
consultation with the Borrower, take any and all action as may be reasonably necessary to ensure
that all Incremental Term Loans, and/or additional Revolving Loans (other than Other Term Loans),
when originally made, are included in each Borrowing of outstanding Term Loans or Revolving Loans
on a pro rata basis. This may be accomplished by requiring each outstanding Eurodollar Term
Borrowing to be converted into an ABR Term Borrowing on the date of each Incremental Term Loan, or
by allocating a portion of each Incremental Term Loan to each outstanding Eurodollar Term Borrowing
on a pro rata basis. Any conversion of Eurodollar Term Loans to ABR Term Loans required by the
preceding sentence shall be subject to Section 2.16. If any Incremental Term Loan is to be
allocated to an existing Interest Period for a Eurodollar Term Borrowing, then the interest rate
thereon for such Interest Period and the other economic consequences thereof shall be as set forth
in the applicable Incremental Assumption Agreement. In addition, to the extent any Incremental Term
Loans are not
Other Term Loans, the scheduled amortization payments under Section 2.11(a)(i) required to be
made after the making of such Incremental Term Loans shall be ratably increased by the aggregate
principal amount of such Incremental Term Loans.

ARTICLE III

Representations and Warranties

     Each Obligor makes the representations and warranties set out in this Article III to each
Finance Party:

     SECTION 3.01. Status. It and each of its Subsidiaries is a limited liability company, general
partnership, limited partnership or corporation (or, as applicable in a jurisdiction outside the
United States, an organization having an equivalent status in such jurisdiction) (except Sea Survey
II and Sea Survey III, each of which is an unlimited liability corporation and, after the Closing
Date, Veritas Geophysical (Canada) Corp., which is an unlimited liability company), duly formed and
validly existing under the law of its jurisdiction of formation. It and each of its Subsidiaries
has the corporate, company, partnership or organizational power to own its assets and carry on its
business as it is being conducted.

     SECTION 3.02. Binding Obligations. Subject to the Legal Reservations, (a) the obligations
expressed to be assumed by it in each Transaction Document to which it is a party, or under which
it is otherwise obligated to perform, are legal, valid, binding and enforceable obligations, and
(b) (without limiting the generality of clause (a) above), each Security Document to which it is a
party, or under which it is otherwise obligated to perform, creates the security interests which
that Security Document purports to create and those security interests are valid and effective.

     SECTION 3.03. Non-Conflict with Other Obligations. The entry into and performance by it of,
and the transactions contemplated by, the Transaction Documents and the granting of the Security do
not and will not conflict with (a) any law or regulation applicable to it, (b) the constitutional
documents of any member of the Group or (c) any

 

66

material agreement or material instrument binding
upon it or any member of the Group or any of its, or any member of the Group’s, assets or
constitute a default or termination event (however described) under any such agreement or
instrument.

     SECTION 3.04. Power and Authority. It has the corporate, company, partnership or
organizational power to enter into, perform and deliver, and has taken all necessary action to
authorize its entry into, performance and delivery of, the Transaction Documents to which it is or
will be a party, or under which it is obligated to perform, and the transactions contemplated by
those Transaction Documents. No limit on its corporate, company, partnership or organizational
powers will be exceeded as a result of the borrowing, grant of security or giving of guarantees or
indemnities contemplated by the Transaction Documents to which it is a party.

     SECTION 3.05. Validity and Admissibility in Evidence. All Authorizations required (a) to
enable it lawfully to enter into, exercise its rights and comply with its obligations under the
Transaction Documents to which it is a party, or under which it is obligated to perform, and (b) to
make the Transaction Documents to which it is a party, or under which it is obligated to perform,
admissible in evidence in its Relevant Jurisdictions other than any actions specifically referred
to in the legal opinions delivered under Section 4.02(a) and which are not taken by the Finance
Parties (where such actions are actions to be taken voluntarily by the Finance Parties) have been
obtained or effected and are in full force and effect. All Authorizations necessary for the
conduct of the business, trade and ordinary activities of members of the Group have been obtained
or effected and are in full force and effect, except where failure to do so or to be so could not
be reasonably expected to have a Material Adverse Effect.

     SECTION 3.06. Governing Law and Enforcement. Subject to the Legal Reservations, (a) the
choice of law specified in each Finance Document as the governing law of such Finance Document will
be recognized and enforced in its Relevant Jurisdictions, and (b) any judgment obtained in New York
(or in the jurisdiction of the governing law of such Finance Document) in relation to a Finance
Document will be recognized and enforced in its Relevant Jurisdictions.

     SECTION 3.07. Solvency. (a) Solvency. Immediately after the consummation of the
Transactions to occur on the Closing Date and immediately following the making of each Loan and
after giving effect to the application of the proceeds of each Loan, each Obligor is Solvent
(“Solvent” meaning that (i) the fair value of the assets of such Obligor will exceed its
then-existing debts and liabilities, subordinated, contingent or otherwise; (ii) the present fair
saleable value of the property of such Obligor is not less than the amount that will be required to
pay the probable liability of its then-existing debts and other liabilities, subordinated,
contingent or otherwise, as such debts and other liabilities become absolute and matured; (iii)
such Obligor reasonably believes that it will be able to pay its debts and liabilities,
subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured
(considering all financing alternatives and potential asset sales reasonably available to such
Obligor); and (iv) such Obligor will not have unreasonably small capital with which to conduct the
business in which it is

 

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engaged as such business is now conducted and is proposed to be conducted
following the Closing Date).

     (b) No (i) corporate action, legal proceeding or other procedure or step described in
paragraph (g) or (h) of Article VII, or (ii) creditors’ process described in paragraph (g) or (h)
of Article VII has been taken or, to the knowledge of Parent, threatened in relation to a member of
the Group, and none of the circumstances described in paragraph (g) or (h) of Article VII applies
to a member of the Group.

     SECTION 3.08. No Filing or Stamp Taxes. Under the laws of its Relevant Jurisdiction, it is
not necessary that the Finance Documents be filed, recorded or enrolled with any court or other
authority in that jurisdiction or that any stamp, registration, notarial or similar Taxes or fees
be paid on or in relation to the Finance Documents or the transactions contemplated by the Finance
Documents other than any actions specifically
referred to in the legal opinions delivered under Section 4.02(b) and which are not taken by
the Finance Parties (where such actions are actions to be taken voluntarily by the Finance
Parties).

     SECTION 3.09. Deduction of Tax. The Borrower is not required to make any deduction for or, on
account of, Tax from any payment it may make under any Finance Document, assuming that each Lender
is a U.S. Qualifying Lender.

     SECTION 3.10. No Default. (a) No Event of Default and, on the date of this Agreement and the
Closing Date, no Default is continuing or would result from the making of the Loans or the entry
into, the performance of, or any transaction contemplated by, any Transaction Document.

     (b) No other event or circumstance is outstanding which constitutes (or, with the expiry of a
grace period, the giving of notice, the making of any determination or any combination of any of
the foregoing, would constitute) a default or termination event (however described) under any other
agreement or instrument which is binding on it or any of its Subsidiaries, or to which its (or any
of its Subsidiaries’) assets are subject, which has or is reasonably likely to have a Material
Adverse Effect.

     SECTION 3.11. Federal Reserve Regulations. (a) None of Parent, the Borrower or any of the
other Subsidiaries is engaged principally, or as one of its important activities, in the business
of extending credit for the purpose of buying or carrying Margin Stock.

     (b) No part of the proceeds of any Loan or any Letter of Credit will be used, whether directly
or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a
violation of the provisions of the Regulations of the Board, including Regulation T, U or X.

     SECTION 3.12. Investment Company Act. None of Parent, the Borrower or any Subsidiary is an
“investment company” as defined in, or subject to regulation under, the Investment Company Act of
1940.

 

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     SECTION 3.13. ERISA. Each U.S. Group Member and its ERISA Affiliates are in compliance in all
material respects with the applicable provisions of ERISA and the Code and the regulations and
published interpretations thereunder. No ERISA Event has occurred or is reasonably expected to
occur that, when taken together with all other such ERISA Events, could reasonably be expected to
result in material liability of any U.S. Group Member or any of its ERISA Affiliates. The present
value of all benefit liabilities under each Plan (based on the assumptions used for purposes of
Statement of Financial Accounting Standards No. 87) did not, as of the last annual valuation date
applicable thereto, exceed the fair market value of the assets of such Plan by an amount in excess
of $5,000,000, and the present value of all benefit liabilities of all underfunded Plans (based on
the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not,
as of the last annual valuation dates applicable thereto, exceed the fair
market value of the assets of all such underfunded Plans by an amount in excess of
$5,000,000.

     SECTION 3.14. Use of Proceeds. The Borrower will (a) use the proceeds of the Loans and will
request the issuance of Letters of Credit only for the purposes specified in the introductory
statement to this Agreement, and (b) use the proceeds of Incremental Term Loans for the purposes
specified in the applicable Incremental Assumption Agreement.

     SECTION 3.15. No Misleading Information. (a) Any factual information, including the factual
information set forth in the Confidential Information Memorandum, provided by or on behalf of any
member of the Group, or by or on behalf of the Target and its Subsidiaries prior to the Closing
Date, to any of the Finance Parties was true and accurate in all material respects (in the case of
the Target or its Subsidiaries, to Parent’s knowledge) as at the date of the relevant report or
document containing the information or (as the case may be) as at the date the information is
expressed to be given.

     (b) No event or circumstance has occurred or arisen, no information has been omitted from the
information provided by or on behalf of any member of the Group, or by or on behalf of the Target
and its Subsidiaries prior to the Closing Date, and no information has been given or withheld that
results in the information, opinions, intentions, forecasts or projections contained in such
information provided being untrue or misleading in any material respect (in the case of the Target
or its Subsidiaries, to Parent’s knowledge).

     (c) All material information provided by or on behalf of any member of the Group, or by or on
behalf of the Target and its Subsidiaries, to a Finance Party in connection with the Merger on or
before the date of this Agreement and not superseded before that date is accurate and not
misleading in any material respect (in the case of the Target or its Subsidiaries, to Parent’s
knowledge), and all projections prepared by or on behalf of any member of the Group, or by or on
behalf of the Target and its Subsidiaries, which are provided to any Finance Party on or before the
date of this Agreement have been prepared in good faith on the basis of assumptions which were
reasonable at the time at which they were prepared and supplied (in the case of the Target or its
Subsidiaries, to Parent’s knowledge).

 

69

     (d) All other written information provided by or on behalf of any member of the Group, or by
or on behalf of the Target and its Subsidiaries prior to the Closing Date, including its advisers,
to a Finance Party was true, complete and accurate in all material respects (in the case of the
Target or its Subsidiaries, to Parent’s knowledge) as at the date it was provided and is not
misleading in any respect (in the case of the Target or its Subsidiaries, to Parent’s knowledge).

     SECTION 3.16. Original Financial Statements. (a) Parent’s Original Financial Statements were
prepared in accordance with IFRS or French GAAP, as applicable, consistently applied and the
Original Financial Statements of the Target were prepared in accordance with U.S. GAAP consistently
applied.

     (b) Parent’s and the Target’s Original Financial Statements fairly present its and the
Target’s, as applicable, financial condition and results of operations for the relevant Fiscal
Year.

     (c) There has been no Material Adverse Effect since the date of Parent’s Original Financial
Statements for the Fiscal Year ended December 31, 2005.

     (d) The Original Financial Statements of Parent and the Target do not consolidate the results,
assets or liabilities of any person or business which does not form part of the Group (exclusive of
the Target Group for all periods prior to the Closing Date) or the Target Group, respectively.

     (e) Parent’s and the Target’s most recent financial statements delivered pursuant to Section
5.01 (i) have been prepared in accordance with IFRS (in the case of Parent) and U.S. GAAP (in the
case of the Target), and (ii) fairly present Parent’s and the Target’s, as applicable, consolidated
or unconsolidated as the case may be financial condition as at the end of, and consolidated or
unconsolidated as the case may be results of operations for, the period to which they relate.

     (f) As at each Quarter Date, there has been no Material Adverse Effect since the date of the
immediately preceding Quarter Date.

     (g) The budgets and forecasts supplied under this Agreement or any Finance Document have been
prepared in good faith on the basis of recent historical information and on the basis of
assumptions which were reasonable as at the date they were prepared and supplied.

     SECTION 3.17. No Proceedings Pending or Threatened. No litigation, arbitration or
administrative proceedings or investigations of, or before, any court, arbitral body or agency
which, if adversely determined, are reasonably likely to have a Material Adverse Effect have (to
the best of its knowledge and belief (having made due and careful inquiry)) been started or
threatened against it or any of its Subsidiaries.

     SECTION 3.18. No Breach of Laws. (a) It has not (and none of its Subsidiaries has) breached
any law or regulation which breach has or is reasonably likely to have a Material Adverse Effect.

 

70

     (b) No labor disputes are current or, to the best of its knowledge and belief (having made due
and careful inquiry), threatened against any member of the Group which have or are reasonably
likely to have a Material Adverse Effect.

     SECTION 3.19. Environmental Laws. (a) Each member of the Group is in compliance with Section
5.10 and, to the best of its knowledge and belief (having made due and careful inquiry), no
circumstances have occurred which would prevent such compliance in a manner or to an extent which
has or is reasonably likely to have a Material Adverse Effect.

     (b) No Environmental Claim has been commenced or (to the best of its knowledge and belief
(having made due and careful inquiry)) is threatened against any member of the Group where that
claim has or is reasonably likely, if determined against that member of the Group, to have a
Material Adverse Effect.

     SECTION 3.20. Taxation. (a) It is not (and none of its Subsidiaries is) materially overdue
in the filing of any Tax returns and it is not (and none of its Subsidiaries is) overdue in the
payment of any amount in respect of Tax of $10,000,000 (or its equivalent in any other currency) or
more.

     (b) No claims or investigations are being made or conducted against it (or any of its
Subsidiaries) with respect to Taxes such that a liability of, or claim against, any member of the
Group of $10,000,000 (or its equivalent in any other currency) or more is reasonably likely to
arise.

     SECTION 3.21. Security and Financial Indebtedness. (a) No Security or Quasi-Security exists
over all or any of the present or future assets of any member of the Group other than as permitted
by this Agreement.

     (b) No member of the Group has any Financial Indebtedness outstanding other than as permitted
by this Agreement.

     SECTION 3.22. Ranking. (a) Subject to the terms of the Intercreditor Agreement, its payment
obligations under the Finance Documents to which it is a party rank at least pari passu in right of
payment with all of its other present and future senior indebtedness, except for indebtedness
mandatorily preferred by laws of general application to companies.

     (b) Subject to the terms of the Intercreditor Agreement, the Transaction Security has or will
have first ranking priority and it is not subject to any prior ranking or pari passu ranking
Security except Permitted Security (excluding any Permitted Security referred to in clauses (b) (to
the extent securing subordinated indebtedness), (j) (to the extent specified in the applicable
consent) or (l) of the definition thereof).

     SECTION 3.23. Good Title to Assets. It and each of its Subsidiaries has a good, valid and
marketable title to, or valid leases or licenses of, and all appropriate Authorizations to use, the
assets necessary to carry on its business as presently

 

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conducted, except where failure to do so
could not be reasonably expected to have a Material Adverse Effect.

     SECTION 3.24. Sanctioned Persons. None of Parent, the Borrower or any Subsidiary nor, to the
knowledge of Parent, any director, officer, agent, employee or Affiliate of the Borrower or any
Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets
Control of the U.S. Treasury Department (“OFAC”); and no Borrower will directly or indirectly use
the proceeds of the Loans or the Letters of Credit or otherwise make available such proceeds to any
person, for the purpose of financing the activities of any person currently subject to any U.S.
sanctions administered by OFAC.

     SECTION 3.25. Legal and Beneficial Ownership. (a) It and each of its Subsidiaries is the
sole legal and beneficial owner of the respective assets over which it purports to grant Security.

     (b) All the Shares acquired prior to the date of this Agreement are, and those acquired after
the date of this Agreement will be, legally and beneficially owned by Parent, the Target or the
applicable Subsidiary free from any claims, third party rights or competing interests (other than
any claims, third party rights or competing interests contained in the constitutional documents or
contractual arrangements of the issuer of such Shares at the time such Shares became subject to the
Transaction Security).

     SECTION 3.26. Shares. The Shares of any member of the Group which are subject to the
Transaction Security on the Closing Date are fully paid and not subject to any option to purchase
or similar rights. The constitutional documents of companies whose Shares are subject to the
Transaction Security on the Closing Date do not and could not restrict or inhibit any transfer of
those Shares on creation or enforcement of the Transaction Security other than as set forth on
Schedule 3.26.

     SECTION 3.27. Intellectual Property. It and each of its Subsidiaries (a) is the sole legal
and beneficial owner of, or has licensed to it on normal commercial terms, all the Intellectual
Property that is material in the context of its business and that is required by it in order to
carry on its business as it is being presently conducted, (b) does not (nor does any of its
Subsidiaries), in carrying on its businesses, infringe any Intellectual Property of any third party
in any respect which would be reasonably likely to have a Material Adverse Effect, and (c) has
taken all formal or procedural actions (including payment of fees) required to maintain any
material Intellectual Property owned by it.

     SECTION 3.28. Accounting Reference Date. Except for the Target and members of the Target
Group, whose Accounting Reference Date is July 31, the Accounting Reference Date of each Obligor
and Material Subsidiary is December 31.

     SECTION 3.29. Centre of Main Interests and Establishments. For the purposes of The Council of
the European Union Regulation No. 1346/2000 on Insolvency Proceedings (the “Regulation”), the
centre of main interest (as that term is used in Article 3(1) of the Regulation) of Parent and each
Foreign Subsidiary is situated in such entity’s

 

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jurisdiction of incorporation and it has no
“establishment” (as that term is used in Article 2(h) of the Regulations) in any other
jurisdiction.

ARTICLE IV

Conditions of Lending

     The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of
Credit hereunder are subject to the satisfaction of the following conditions:

     SECTION 4.01. All Credit Events. On the date of each Borrowing (other than a conversion or a
continuation of a Borrowing), including each Borrowing of a Swingline
Loan and on the date of each issuance, amendment, extension or renewal of a Letter of Credit
(each such event being called a “Credit Event”):

     (a) The Administrative Agent shall have received a notice of such Borrowing as required by
Section 2.03 (or such notice shall have been deemed given in accordance with Section 2.02) or, in
the case of the issuance, amendment, extension or renewal of a Letter of Credit, the Issuing Bank
and the Administrative Agent shall have received a notice requesting the issuance, amendment,
extension or renewal of such Letter of Credit as required by Section 2.23(b) or, in the case of the
Borrowing of a Swingline Loan, the Swingline Lender and the Administrative Agent shall have
received a notice requesting such Swingline Loan as required by Section 2.22(b).

     (b) The representations and warranties set forth in Article III and in each other Finance
Document shall be true and correct in all material respects on and as of the date of such Credit
Event with the same effect as though made on and as of such date, except to the extent such
representations and warranties expressly relate to an earlier date.

     (c) At the time of and immediately after such Credit Event, no Default or Event of Default
shall have occurred and be continuing.

     Each Credit Event shall be deemed to constitute a representation and warranty by the Borrower
and Parent on the date of such Credit Event as to the matters specified in paragraphs (b) and (c)
of this Section 4.01.

     SECTION 4.02. First Credit Event. On the Closing Date:

     (a) The Administrative Agent shall have received, on behalf of itself, the Lenders and the
Issuing Bank, a favorable written opinion of (i) Linklaters, New York counsel for Parent and the
Borrower, substantially to the effect set forth in Exhibit J-1, and (ii) each local counsel listed
on Schedule 4.02(a), substantially to the effect set forth in Exhibit J-2, in each case (A) dated
the Closing Date, (B) addressed to the Issuing Bank, the Administrative Agent and the Lenders, and
(C) covering such other matters relating to the Finance Documents and the Transactions as the
Administrative Agent shall reasonably request, and Parent and the Borrower hereby request such
counsel to deliver such opinions.

 

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     (b) All legal matters incident to this Agreement, the Borrowings and extensions of credit
hereunder and the other Finance Documents shall be satisfactory to the Lenders, to the Issuing Bank
and to the Administrative Agent.

     (c) The Administrative Agent shall have received (i) a copy of the certificate or articles of
incorporation, including all amendments thereto, of each Obligor, certified as of a recent date by
the Secretary of State of the state of its organization (or the reasonable equivalent thereof, in
the case of Foreign Obligors), and a certificate as to the good standing of each Obligor as of a
recent date, from such Secretary of State (or the reasonable equivalent thereof, if any, in the
case of Foreign Obligors); (ii) a certificate of the Secretary, Assistant Secretary or other
Responsible Officer of each Obligor dated the Closing Date and certifying (A) that attached thereto
is a true and complete copy of the
by-laws (or the reasonable equivalent thereof, in the case of Foreign Obligors) of such
Obligor as in effect on the Closing Date and at all times since a date prior to the date of the
resolutions described in clause (B) below, (B) that attached thereto is a true and complete copy of
resolutions duly adopted by the Board of Directors of such Obligor authorizing the execution,
delivery and performance of the Finance Documents to which such person is a party and, in the case
of the Borrower, the borrowings hereunder, and that such resolutions have not been modified,
rescinded or amended and are in full force and effect, (C) that the certificate or articles of
incorporation (or the reasonable equivalent thereof, in the case of Foreign Obligors) of such
Obligor have not been amended since the date of the last amendment thereto shown on the certificate
of good standing furnished pursuant to clause (i) above, and (D) as to the incumbency and specimen
signature of each Responsible Officer executing any Finance Document or any other document
delivered in connection herewith on behalf of such Obligor; (iii) a certificate of another
Responsible Officer as to the incumbency and specimen signature of the Secretary, Assistant
Secretary or other Responsible Officer executing the certificate pursuant to clause (ii) above; and
(iv) such other documents as the Lenders, the Issuing Bank or the Administrative Agent may
reasonably request.

     (d) The Administrative Agent shall have received a certificate, dated the Closing Date and
signed by a Financial Officer of Parent and the Borrower, confirming compliance with the conditions
precedent set forth in paragraphs (b) and (c) of Section 4.01.

     (e) The Administrative Agent shall have received all Fees and other amounts due and payable on
or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all
out-of-pocket expenses required to be reimbursed or paid by Parent or the Borrower hereunder or
under any other Finance Document.

     (f) Except to the extent not required to be executed on or prior to the Closing Date pursuant
to the terms hereof or of any executed Finance Document, the Security Documents shall have been
duly executed by each Obligor that is to be a party thereto and shall be in full force and effect
on the Closing Date. The Collateral Agent on behalf of the Secured Parties shall have a security
interest in the Collateral of the type and priority described in each Security Document.

 

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     (g) The Collateral Agent shall have received a Perfection Certificate with respect to the
Obligors dated the Closing Date and duly executed by a Responsible Officer of Parent and the
Borrower, and shall have received the results of a search of the Uniform Commercial Code filings
(or equivalent filings, to the extent available in the relevant jurisdictions) made with respect to
the Obligors in the states (or other jurisdictions) of formation of such persons (and, with respect
to Foreign Obligors, in the District of Columbia), in which the chief executive office of each such
person is located and in the other jurisdictions in which such persons maintain property, in each
case as indicated on Schedule 4.02(g), together with copies of the financing statements (or similar
documents) disclosed by such search, and accompanied by evidence satisfactory to the Collateral
Agent that the Security indicated in any such financing statement (or similar document)
constitutes Permitted Security or have been or will be contemporaneously released or
terminated.

     (h) (i) Except to the extent not required to be executed on or prior to the Closing Date
pursuant to the terms hereof or of any executed Finance Document, each of the Security Documents,
in form and substance satisfactory to the Lenders, relating to each of the Mortgaged Properties
shall have been duly executed by the parties thereto and delivered to the Collateral Agent and
shall be in full force and effect, (ii) each of such Mortgaged Properties shall not be subject to
any Security other than those permitted under Section 6.07, (iii) each of such Security Documents
shall have been submitted for filing and recordation in the recording office as specified on
Schedule 4.02(h) (or a lender’s title insurance policy, in form and substance acceptable to the
Collateral Agent, insuring such Security Document as a first lien on such Mortgaged Property
(subject to any Permitted Security) shall have been received by the Collateral Agent) and, in
connection therewith, the Collateral Agent shall have received evidence satisfactory to it of each
such submission and (iv) the Collateral Agent shall have received such other documents, including a
policy or policies of title insurance issued by a nationally recognized title insurance company,
together with such endorsements, coinsurance and reinsurance as may be reasonably requested by the
Collateral Agent and the Lenders, insuring the Mortgages as valid first liens on the Mortgaged
Properties, free of Security other than any Permitted Security, together with such surveys,
abstracts, appraisals and legal opinions required to be furnished pursuant to the terms of the
Mortgages or as reasonably requested by the Collateral Agent or the Lenders.

     (i) The Administrative Agent shall have received a copy of, or a certificate as to coverage
under, the insurance policies required by Section 5.16 and the applicable provisions of the
Security Documents, each of which shall be endorsed or otherwise amended to include a customary
lender’s loss payable endorsement and to name the Collateral Agent as additional insured, in form
and substance reasonably satisfactory to the Administrative Agent.

     (j) The Merger shall have been, or substantially simultaneously with the initial funding of
Loans on the Closing Date shall be, consummated in accordance with the Merger Agreement and
applicable law, without giving effect to any waiver of any material terms or conditions of the
Merger Agreement not approved by the Majority Lenders. The Administrative Agent shall have received
copies of the Merger Agreement

 

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and the other Transaction Documents and all certificates, opinions
and other documents delivered thereunder, certified by a Responsible Officer of Parent as being
complete and correct.

     (k) Parent shall have received gross cash proceeds of not less than $700,000,000 from the
borrowing under the Bridge Facility. The Administrative Agent shall have received copies of the
Bridge Facility Agreement and the Bridge Facility Security Documents, certified by a Responsible
Officer of Parent as being complete and correct.

     (l) All principal, premium, if any, interest, fees and other amounts due or outstanding under
the Existing Credit Agreement and the Existing Target Credit
Agreement shall have been (or contemporaneously will be) paid in full, the commitments
thereunder terminated and all guarantees and security in support thereof discharged and released,
and the Administrative Agent shall have received reasonably satisfactory evidence thereof.
Immediately after giving effect to the Transactions and the other transactions contemplated hereby,
Parent and the Subsidiaries shall have outstanding no Financial Indebtedness or preferred stock
other than (a) Financial Indebtedness outstanding under this Agreement, the Bridge Facility
Agreement and the French Revolving Facility Agreement and (b) Financial Indebtedness set forth on
Schedule 1.01(d).

     (m) The Lenders shall have received the Original Financial Statements and the audit opinions
relating thereto.

     (n) The Administrative Agent shall have received a certificate from the Chief Financial
Officer or Deputy Chief Financial Officer of Parent certifying that Parent and its subsidiaries, on
a consolidated basis after giving effect to the Transactions to occur on the Closing Date, are
Solvent.

     (o) All requisite Governmental Authorities and third parties shall have approved or consented
to the Transactions and the other transactions contemplated hereby to the extent required, all
applicable appeal periods shall have expired and there shall not be any pending or threatened
litigation, governmental, administrative or judicial action that could reasonably be expected to
restrain, prevent or impose materially burdensome conditions on the Transactions or the other
transactions contemplated hereby.

     (p) The Lenders shall have received, to the extent requested, all documentation and other
information required by regulatory authorities under applicable “know your customer” and anti-money
laundering rules and regulations, including the USA PATRIOT Act.

ARTICLE V

Affirmative Covenants

     Each of Parent and the Borrower covenants and agrees with each Lender that so long as this
Agreement shall remain in effect and until the Commitments have been terminated and the principal
of and interest on each Loan, all Fees and all other expenses

 

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or amounts payable under any Finance
Document shall have been paid in full and all Letters of Credit have been canceled or have expired
and all amounts drawn thereunder have been reimbursed in full, unless the Majority Lenders shall
otherwise consent in writing:

     SECTION 5.01. Financial Statements. Parent shall supply (in sufficient copies for all the
Lenders, if the Administrative Agent so requests) to the Administrative Agent (and the
Administrative Agent shall promptly distribute to the Lenders):

     (a) as soon as they are available, but in any event within six months after the end of each of
its Fiscal Years, its audited consolidated financial statements for that Fiscal Year;

     (b) within 60 days after the end of each of the first and third quarter of each Fiscal Year
(and within 75 days after the end of the second quarter of each Fiscal Year), its unaudited
consolidated financial statements for that Financial Quarter;

     (c) within 90 days after the beginning of each of its Fiscal Years, a consolidated budget for
such Fiscal Year (including a projected consolidated balance sheet and related statements of
projected operations and cash flows as of the end of and for such Fiscal Year and setting forth the
assumptions used for purposes of preparing such budget).

     SECTION 5.02. Provision and Contents of Compliance Certificate. (a) Parent shall supply a
Compliance Certificate to the Administrative Agent quarterly with each set of its financial
statements delivered under Section 5.01 above.

     (b) The Compliance Certificate shall, among other things, (i) certify that no Event of
Default or Default has occurred or, if such an Event of Default or Default has occurred, specify
the nature and extent thereof and any corrective action taken or proposed to be taken with respect
thereto, (ii) set out (in reasonable detail) computations as to (x) compliance with Section 6.02
and (y) the Available Amount as of the end of the fiscal period then ended and any uses of the
Available Amount during such period (and, in the event that any Permitted Acquisition, Permitted
Loan, Permitted Investment or Restricted Payment for which the Available Amount could have been
used but for the existence of a basket has occurred during such period, the usage and remaining
amount of such basket) and (iii) in the case of a Compliance Certificate delivered with the
financial statements required by Section 5.01(a), set forth Parent’s calculation of Excess Cash
Flow for the Fiscal Year then ended.

     (c) Each Compliance Certificate shall be signed by two authorized officers of Parent and, if
required to be delivered with the consolidated Annual Financial Statements of Parent, shall be
reported on by Parent’s Auditors in a form acceptable to the Auditors and reasonably acceptable to
the Administrative Agent.

     SECTION 5.03. Requirements as to Financial Statements. (a) Parent shall ensure that each set
of Annual Financial Statements and Quarterly Financial Statements includes a balance sheet, profit
and loss account and cashflow statement. In addition,

 

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Parent shall ensure that each set of Annual
Financial Statements shall be audited by the Auditors.

     (b) Each set of financial statements delivered pursuant to Section 5.01 (i) shall be certified
by an authorized officer of the relevant company as presenting fairly, in accordance with
applicable accounting standards, its financial condition and operations as at the date as at which
those financial statements were prepared; (ii) in the case of consolidated financial statements
(annual and quarterly) of the Group, shall be accompanied by a statement by the management of
Parent, comparing actual performance
for the period to which the financial statements relate to the actual performance for the
corresponding period in the preceding Fiscal Year of the Group; and (iii) in the case of Parent,
shall be prepared in accordance with IFRS and accounting practices applied in the preparation of
the Base Case Model, unless, in relation to any set of financial statements, Parent notifies the
Administrative Agent that there has been a change in IFRS or the accounting practices and its
Auditors deliver to the Administrative Agent (x) a description of any change necessary for those
financial statements to reflect IFRS or accounting practices upon which the Base Case Model was
prepared; and (y) sufficient information, in form and substance as may be reasonably required by
the Administrative Agent, to enable the Lenders to determine whether Section 6.02 has been complied
with and to make an accurate comparison between the financial position indicated in those financial
statements and the Base Case Model. Any reference in this Agreement to any financial statements
shall be construed as a reference to those financial statements as adjusted to reflect the basis
upon which the Base Case Model was prepared.

     (c) If the Administrative Agent wishes to discuss the financial position of any member of the
Group with the Auditors, the Administrative Agent may notify Parent, stating the questions or
issues which the Administrative Agent wishes to discuss with the Auditors. In this event, Parent
must authorize the Auditors (at the reasonable expense of Parent) (i) to discuss the financial
position of each member of the Group with the Administrative Agent on request from the
Administrative Agent; and (ii) to disclose to the Administrative Agent for the Finance Parties any
information which the Administrative Agent may reasonably request.

     SECTION 5.04. Presentations. Once in every Fiscal Year, or more frequently if requested to do
so by the Administrative Agent if the Administrative Agent reasonably suspects a Default is
continuing or may have occurred or may occur a reasonably short amount of time after making such
request, at least two authorized officers of Parent (one of whom shall be the Chief Financial
Officer or Deputy Chief Financial Officer of Parent) must give a presentation to the Finance
Parties about (a) the on-going business and financial performance of the Group; and (b) any other
matter which a Finance Party may reasonably request relating to any such suspected Default.

     SECTION 5.05. Information; Miscellaneous. Parent shall supply (in sufficient copies for all
the Lenders, if the Administrative Agent so requests) to the Administrative Agent (and the
Administrative Agent shall promptly distribute to the Lenders) (a) at the same time as they are
dispatched, copies of all documents dispatched by Parent to its shareholders generally (or any
class of them) or dispatched by Parent or any Obligor to

 

78

its creditors generally (or any class of
them); (b) promptly upon becoming aware of them, the details of any litigation, arbitration or
administrative proceedings which are current, threatened in writing or pending against any member
of the Group, and which, if adversely determined, are reasonably likely to have a Material Adverse
Effect; (c) promptly upon becoming aware of the relevant claim, the details of any disposal or
insurance claim which will require a prepayment under Section 2.13; and (d) promptly on request,
such further information regarding the financial condition, assets and operations of the Group
and/or any member of the Group (including any requested amplification or explanation of any item in
the financial statements, budgets or other material provided by
any Obligor under this Agreement or any Finance Document, any changes to senior management of
Parent and an up to date copy of its shareholders’ register (or equivalent in its jurisdiction of
incorporation), to the extent such document exists), as any Finance Party through the
Administrative Agent may reasonably request; provided that Parent shall not be obliged to supply to
the Administrative Agent (or to any Lender) copies of any Auditors’ letter or other communications
to the board of directors or management of the Group.

     SECTION 5.06. Notification of Default. (a) Each Obligor shall notify the Administrative
Agent of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware
of its occurrence (unless that Obligor is aware that a notification has already been provided by
another Obligor).

     (b) Promptly upon a request by the Administrative Agent, Parent shall supply to the
Administrative Agent a certificate signed by two of its senior officers on its behalf certifying
that no Default is continuing (or if a Default is continuing, specifying the Default and the steps,
if any, being taken to remedy it).

     SECTION 5.07. “Know Your Customer” Checks. (a) If (i) the introduction of, or any change in
(or in the interpretation, administration or application of), any law or regulation made after the
date of this Agreement; (ii) any change in the status of an Obligor or the composition of the
shareholders of an Obligor after the date of this Agreement; or (iii) a proposed assignment or
transfer by a Lender of any of its rights and/or obligations under this Agreement to a party that
is not a Lender prior to such assignment or transfer, obliges the Administrative Agent or any
Lender (or, in the case of clause (iii) above, any prospective new Lender) to comply with “know
your customer” or similar identification procedures in circumstances where the necessary
information is not already available to it, each Obligor shall promptly upon the request of the
Administrative Agent or any Lender supply, or ensure the supply of, such documentation and other
evidence as is reasonably requested by the Administrative Agent (for itself or on behalf of any
Lender) or any Lender (for itself or, in the case of the event described in clause (iii) above, on
behalf of any prospective new Lender) in order for the Administrative Agent, such Lender or, in the
case of the event described in clause (iii) above, any prospective new Lender, to carry out and be
satisfied with the results of all necessary “know your customer” or other similar checks under all
applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents.

 

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     (b) Each Lender shall promptly upon the request of the Administrative Agent supply, or ensure
the supply of, such documentation and other evidence as is reasonably requested by the
Administrative Agent (for itself) in order for the Administrative Agent to carry out and be
satisfied with the results of all necessary “know your customer” or other similar checks under all
applicable laws and regulations, including the USA PATRIOT Act, pursuant to the transactions
contemplated in the Finance Documents.

     (c) Parent shall, by not less than 10 Business Days’ prior written notice to the
Administrative Agent, notify the Administrative Agent (which shall promptly notify the Lenders) of
its intention to request that one of its Subsidiaries becomes an Additional
Guarantor pursuant to the Guarantee Agreement or the Norwegian Guarantee Agreement, as
applicable.

     (d) Following the giving of any notice pursuant to paragraph (c) above, if the accession of
such Additional Guarantor obliges the Administrative Agent or any Lender to comply with “know your
customer” or similar identification procedures in circumstances where the necessary information is
not already available to it, Parent shall promptly upon the request of the Administrative Agent or
any Lender supply, or ensure the supply of, such documentation and other evidence as is reasonably
requested by the Administrative Agent (for itself or on behalf of any Lender) or any Lender (for
itself or on behalf of any prospective new Lender) in order for the Administrative Agent or such
Lender or any prospective new Lender to carry out and be satisfied with the results of all
necessary “know your customer” or other similar checks under all applicable laws and regulations
pursuant to the accession of such Subsidiary to this Agreement as an Additional Guarantor.

     SECTION 5.08. Authorizations. Each Obligor shall promptly (a) obtain, comply with and do all
that is necessary to maintain in full force and effect; and (b) supply certified copies to the
Administrative Agent of, any Authorization required under any law or regulation of a Relevant
Jurisdiction to (i) enable it to perform its obligations under the Finance Documents; (ii) ensure
the legality, validity, enforceability or admissibility in evidence of any Finance Document; and
(iii) carry on its business where failure to do so has or is reasonably likely to have a Material
Adverse Effect.

     SECTION 5.09. Compliance with Laws. Each Obligor shall (and Parent shall ensure that each
member of the Group will) comply in all respects with all laws to which it may be subject, if
failure to so comply has or is reasonably likely to have a Material Adverse Effect.

     SECTION 5.10. Environmental Compliance. Each Obligor shall (and Parent shall ensure that each
member of the Group will) (a) comply with all Environmental Law; (b) obtain, maintain and ensure
compliance with all requisite Environmental Permits; and (c) implement procedures to monitor
compliance with and to prevent liability under any Environmental Law, in each case, where failure
to do so has or is reasonably likely to have a Material Adverse Effect.

 

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     SECTION 5.11. Environmental Claims. Each Obligor shall (through Parent), promptly upon
becoming aware of the same, inform the Administrative Agent in writing of (a) any Environmental
Claim against any member of the Group which is current, pending or threatened; and (b) any facts or
circumstances which are reasonably likely to result in any Environmental Claim being commenced or
threatened against any member of the Group, in each case, where such claim, if determined against
such member of the Group, has or is reasonably likely to have a Material Adverse Effect.

     SECTION 5.12. Taxation. Each Obligor shall (and Parent shall ensure that each member of the
Group will) pay and discharge all material Taxes imposed upon it or its assets within the time
period allowed without incurring penalties, unless (and only to the extent that) (a) such payment
is being contested in good faith; (b) adequate reserves are being maintained for those Taxes and
the costs required to contest them which have been disclosed in its latest financial statements
delivered to the Administrative Agent under Section 5.01; and (c) such payment can be lawfully
withheld.

     SECTION 5.13. Preservation of Assets. Each Obligor shall (and Parent shall ensure that each
member of the Group will) maintain in good working order and condition (ordinary wear and tear
excepted) all of its assets necessary in the conduct of its business.

     SECTION 5.14. Pari Passu Ranking. (a) Subject to the terms of the Intercreditor Agreement,
each Obligor shall ensure that at all times, any payment obligations owing to a Finance Party under
the Finance Documents rank at least pari passu in right of payment with the claims of all its other
present and future senior indebtedness, except for indebtedness mandatorily preferred by laws of
general application to companies.

     (b) Subject to the terms of the Intercreditor Agreement, each Obligor shall ensure that at all
times the Transaction Security has or will have first ranking priority and it is not subject to any
prior ranking or pari passu ranking Security except Permitted Security (excluding any Permitted
Security referred to in clauses (b) (to the extent securing subordinated indebtedness), (j) (to the
extent specified in the applicable consent) or (l) of the definition thereof).

     SECTION 5.15. Merger Documents. (a) Parent shall promptly pay all amounts payable to the
applicable party under any relevant Merger Documents as and when they become due (except to the
extent that any such amounts are being contested in good faith by a member of the Group and where
adequate reserves are set aside for any such payment).

     (b) Parent shall (and Parent will ensure that each relevant member of the Group will) take all
reasonable and practical steps to preserve and enforce its rights (or the rights of any other
member of the Group) and pursue any claims and remedies arising under any Merger Documents.

 

81

     SECTION 5.16. Insurance. (a) Each Obligor shall (and Parent shall ensure that each member of
the Group will) maintain insurance on, and in relation to, its business and assets against those
risks and to the extent customary for companies carrying on the same or substantially similar
business.

     (b) All insurance must be with reputable independent insurance companies or underwriters.

     SECTION 5.17. Pensions. (a) Parent shall ensure that all pension schemes operated by or
maintained for the benefit of members of the Group and/or any of its employees are fully funded in
accordance with the governing provisions of the scheme and as may be required by applicable laws
with any shortfall advised by actuaries of recognized standing being rectified in accordance with
those governing provisions and that no action or omission is taken by any member of the Group in
relation to such a pension scheme which has or is reasonably likely to have a Material Adverse
Effect.

     (b) Parent shall promptly notify the Administrative Agent of any material change in the rate
of contributions to any pension schemes mentioned in (a) above paid or recommended to be paid
(whether by the scheme actuary or otherwise) or required (by law or otherwise).

     (c) Each U.S. Group Member and its ERISA Affiliates shall comply in all material respects with
the applicable provisions of ERISA and the Code and shall furnish to the Administrative Agent as
soon as possible after, and in any event within ten days after, any Responsible Officer of any U.S.
Group Member or any ERISA Affiliate knows or has reason to know that, any ERISA Event has occurred
that, alone or together with any other ERISA Event, could reasonably be expected to result in
liability of any U.S. Group Member or any ERISA Affiliate in an aggregate amount exceeding
$5,000,000, a statement of a Financial Officer of Parent or the Borrower setting forth details as
to such ERISA Event and the action, if any, that Parent or the Borrower proposes to take with
respect thereto.

     SECTION 5.18. Access. Each Obligor shall (and Parent shall ensure that each member of the
Group will) (not more than once in every Fiscal Year unless the Administrative Agent reasonably
suspects a Default is continuing or may occur a reasonably short amount of time thereafter) permit
the Administrative Agent and/or the Collateral Agent and/or accountants or other professional
advisers and contractors of the Administrative Agent or Collateral Agent to have free access, at
all reasonable times and on reasonable notice, at the risk and cost of the Obligor or Borrower to
(a) the premises, assets, books, accounts and records of each member of the Group and (b) meet and
discuss matters with its senior management.

     SECTION 5.19. Intellectual Property. Each Obligor shall (and Parent shall ensure that each
Group member will) (a) preserve and maintain the subsistence and validity of the Intellectual
Property necessary for the business of the relevant Group member; (b) use reasonable efforts to
prevent any infringement in any material respect of the Intellectual Property; (c) make
registrations and pay all registration fees and taxes to

 

82

the extent that Parent determines in its reasonable commercial judgment that such registration
is necessary to maintain the Intellectual Property in full force and effect and record its interest
in that Intellectual Property; and (d) not use or permit the Intellectual Property to be used in a
way or take any step or omit to take any step in respect of that Intellectual Property that may
materially and adversely affect the existence or value of the Intellectual Property or imperil the
right of any member of the Group to use such property.

     SECTION 5.20. Financial Assistance. To the extent applicable, each Obligor shall (and Parent
shall ensure that each member of the Group will) comply in all respects with Sections 151 to 158 of
the United Kingdom Companies Act 1985 and any equivalent legislation in other jurisdictions
including in relation to the execution of the Security Documents and payment of amounts due under
this Agreement.

     SECTION 5.21. Further Assurance. (a) Each Obligor shall (and Parent shall ensure that each
member of the Group will) promptly do all such acts or execute all such documents (including
assignments, transfers, mortgages, charges, notices and instructions) as the Collateral Agent may
reasonably specify (and in such form as the Collateral Agent may reasonably require in favor of the
Collateral Agent or its nominee(s)) (i) to perfect the Security created or intended to be created
under or evidenced by the Security Documents (which may include the execution of a mortgage,
charge, assignment or other Security over all or any of the assets which are, or are intended to
be, the subject of the Transaction Security) or for the exercise of any rights, powers and remedies
of the Collateral Agent or the Finance Parties provided by or pursuant to the Finance Documents or
by law; (ii) to confer on the Collateral Agent or the Finance Parties Security over any property
and assets of such Obligor located in any jurisdiction equivalent or similar to the Security
intended to be conferred by or pursuant to the Security Documents; and/or (iii) to facilitate the
realization of the assets which are, or are intended to be, the subject of the Transaction Security
(it being understood that it is the intent of the parties that the Obligations shall be secured by
(x) substantially all the personal property of the Borrower and the other Obligors that are
Domestic Subsidiaries and (y) certain other assets of the Obligors reasonably agreed between the
Collateral Agent and Parent, in each case including real property, mineral interests, vessels and
equipment acquired subsequent to the Closing Date with a fair market value in each instance in
excess of $1,000,000, except to the extent that (A) Transaction Security would not be permitted by
the terms of any Permitted Security existing over such assets or (B) the cost of obtaining
Transaction Security would be disproportionate to the benefit thereof).

     (b) Each Obligor shall (and Parent shall ensure that each member of the Group will) take all
such action as is available to it (including making all filings and registrations) as may be
necessary for the purpose of the creation, perfection, protection or maintenance of any Security
conferred or intended to be conferred on the Collateral Agent or the Finance Parties by or pursuant
to the Finance Documents.

     (c) Each Obligor shall (and Parent shall ensure that each member of the Group will) ensure
that at any time that Security is granted to the lenders under the Bridge

 

83

     Facility pursuant to the Bridge Facility Agreement or the Bridge Facility Security Documents,
or to the lenders under the French Revolving Facility pursuant to the French Revolving Facility
Agreement or the French Revolving Facility Security Documents, such Security shall be granted to
the Lenders pursuant to substantially similar documentation, agreements or arrangements as the
Security granted under the Security Documents and on terms consistent with the Intercreditor
Agreement.

     (d) Parent will cause (i) any subsequently acquired, organized or reorganized wholly owned
Domestic Subsidiary and (ii) any subsequently acquired, organized or reorganized Foreign Subsidiary
that is (x) a Material Subsidiary, (y) able to provide a full and unconditional guarantee of the
Existing Bonds under applicable law and the rules and regulations promulgated by the Securities and
Exchange Commission and (z) not treated as a “controlled foreign corporation” (as that term is
defined in Section 957 of the Code and the applicable regulations thereunder) of the Borrower to
become an Additional Guarantor by executing the Guarantee Agreement (or, in the case of an
Additional Guarantor organized under the laws of Norway, the Norwegian Guarantee Agreement) and
each applicable Security Document in favor of the Collateral Agent.

     SECTION
5.22. Interest Rate Protection. No later than the 180th day after the Closing Date,
the Borrower shall enter into, and for a minimum of two years thereafter maintain, Hedging
Agreements reasonably acceptable to the Administrative Agent that result in at least 40% of the
aggregate principal amount of its funded long-term Indebtedness being effectively subject to a
fixed or maximum interest rate acceptable to the Administrative Agent.

     SECTION
5.23. Maintenance of Ratings. Parent and the Borrower shall use commercially
reasonable efforts to cause the credit facilities established under this Agreement to be
continuously rated by S&P and Moody’s. Parent shall use commercially reasonable efforts to
maintain the Corporate Ratings and shall promptly notify the Administrative Agent in writing of any
change in the Corporate Ratings.

ARTICLE VI

Negative Covenants

     SECTION 6.01. Year-end. Parent shall not change its Accounting Reference Date or its
quarterly accounting period.

     SECTION 6.02. Financial Covenants. Parent shall ensure that the financial condition of the
Group shall be such that:

     (a) The ratio of (i) EBITDA less Capital Expenditures to (ii) Total Interest Costs for each
Relevant Period specified in Column 1 below shall not be less than the ratio set out in Column 2
below opposite such Relevant Period.

 

84

	 	 	 
	Column 1	 	Column 2
	Any Relevant Period expiring in the	 	Ratio
	rolling 12 month period ending	 	 
	March 31, 2007	 	1.50:1.00
	June 30, 2007	 	1.50:1.00
	September 30, 2007	 	1.50:1.00
	December 31, 2007	 	1.50:1.00
	March 31, 2008	 	1.75:1.00
	June 30, 2008	 	1.75:1.00
	September 30, 2008	 	1.75:1.00
	December 31, 2008	 	1.75:1.00
	March 31, 2009	 	2.00:1.00
	June 30, 2009	 	2.00:1.00
	September 30, 2009	 	2.00:1.00
	December 31, 2009	 	2.00:1.00
	March 31, 2010	 	2.50:1.00
	June 30, 2010	 	2.50:1.00
	September 30, 2010	 	2.50:1.00
	December 31, 2010	 	2.50:1.00
	March 31, 2011	 	2.50:1.00
	June 30, 2011	 	2.50:1.00
	September 30, 2011	 	2.50:1.00
	December 31, 2011	 	2.50:1.00
	March 31, 2012	 	2.50:1.00
	June 30, 2012	 	2.50:1.00
	September 30, 2012	 	2.50:1.00
	December 31, 2012	 	2.50:1.00
	March 31, 2013	 	2.50:1.00
	June 30, 2013	 	2.50:1.00
	September 30, 2013	 	2.50:1.00
	December 31, 2013	 	2.50:1.00

     (b) The Total Leverage Ratio in respect of each Relevant Period specified in Column 1 below
shall not be greater than the ratio set out in Column 2 below opposite such Relevant Period.

	 	 	 	 	 
	Column 1	 	Column 2	 
	Any Relevant Period expiring in the rolling 12	 	Ratio	 
	month period ending	 	 	 	 
	March 31, 2007
	 	 	2.25:1.00	 
	June 30, 2007
	 	 	2.25:1.00	 
	September 30, 2007
	 	 	2.25:1.00	 
	December 31, 2007
	 	 	2.25:1.00	 
	March 31, 2008
	 	 	2.00:1.00	 
	June 30, 2008
	 	 	2.00:1.00	 
	September 30, 2008
	 	 	2.00:1.00	 

 

85

	 	 	 	 	 
	Column 1	 	Column 2	 
	Any Relevant Period expiring in the rolling 12	 	Ratio	 
	month period ending	 	 	 	 
	December 31, 2008
	 	 	2.00:1.00	 
	March 31, 2009
	 	 	1.75:1.00	 
	June 30, 2009
	 	 	1.75:1.00	 
	September 30, 2009
	 	 	1.75:1.00	 
	December 31, 2009
	 	 	1.75:1.00	 
	March 31, 2010
	 	 	1.50:1.00	 
	June 30, 2010
	 	 	1.50:1.00	 
	September 30, 2010
	 	 	1.50:1.00	 
	December 31, 2010
	 	 	1.50:1.00	 
	March 31, 2011
	 	 	1.50:1.00	 
	June 30, 2011
	 	 	1.50:1.00	 
	September 30, 2011
	 	 	1.50:1.00	 
	December 31, 2011
	 	 	1.50:1.00	 
	March 31, 2012
	 	 	1.50:1.00	 
	June 30, 2012
	 	 	1.50:1.00	 
	September 30, 2012
	 	 	1.50:1.00	 
	December 31, 2012
	 	 	1.50:1.00	 
	March 31, 2013
	 	 	1.50:1.00	 
	June 30, 2013
	 	 	1.50:1.00	 
	September 30, 2013
	 	 	1.50:1.00	 
	December 31, 2013
	 	 	1.50:1.00	 

Notwithstanding the foregoing, the Total Leverage Ratio in respect of the first Relevant Period
ending after the consummation of any Qualifying Acquisition shall not be greater than 2.25 to 1.00
(and the ratio set forth opposite such Relevant Period in Column 2 above shall be deemed not to
apply).

     (c) The financial covenants set out in this Section 6.02 shall be tested by reference to, and
as at the date of, each of the financial statements and/or each Compliance Certificate delivered
pursuant to Section 5.01 or 5.02, respectively.

     SECTION 6.03. Merger. No Obligor shall (and Parent shall ensure that no other member of the
Group will) enter into any amalgamation, demerger, merger, consolidation or corporate
reconstruction except for a Permitted Merger.

     SECTION 6.04. Change of Business. Parent shall ensure that no substantial change is made to
the general nature of the business of Parent, the Obligors or the Group taken as a whole, as
carried out (or contemplated to be carried out and disclosed to the Administrative Agent) at the
date of this Agreement, except to the extent of a Qualifying Business Disposal.  

     SECTION 6.05. Acquisitions. No Obligor shall (and Parent shall ensure that no other member of
the Group will) (a) acquire a company or any shares or securities or a business (or, in each case,
any interest in any of them); or (b) incorporate a company;

 

86

provided that this Section 6.05 does not apply to an acquisition of a company, of shares,
securities or a business (or, in each case, any interest in any of them) or the incorporation of a
company which is a Permitted Acquisition or a Permitted Investment.

     SECTION 6.06. Joint Ventures and Investments. (a) Except as permitted under paragraph (b)
below, no Obligor shall (and Parent shall ensure that no other member of the Group will) (i) enter
into, invest in or acquire (or agree to acquire) any shares, stocks, securities or other interest
in any Joint Venture; or (ii) transfer any assets or lend to, or guarantee or give an indemnity
for, or give Security for the obligations of a Joint Venture or maintain the solvency of or provide
working capital to any Joint Venture (or agree to do any of the foregoing).

     (b) Paragraph (a) above does not apply to any entry into, investment in or acquisition of (or
agreement to acquire) any interest in a Joint Venture or transfer of assets (or agreement to
transfer assets) to a Joint Venture or loan made to, or guarantee given in respect of the
obligations of, a Joint Venture if such transaction is a Permitted Acquisition, a Permitted
Disposal, a Permitted Joint Venture or a Permitted Investment.

     SECTION 6.07. Negative Pledge. (a) Except as permitted under paragraph (b) below, (i) no
Obligor shall (and Parent shall ensure that no other member of the Group will) create or permit to
exist any Security over any of its assets; (ii) no Obligor shall (and Parent shall ensure that no
other member of the Group will) (w) sell, transfer or otherwise dispose of any of its assets on
terms whereby they are or may be leased to or re-acquired by an Obligor or any other member of the
Group; (x) sell, transfer or otherwise dispose of any of its receivables on recourse terms; (y)
enter into any arrangement under which money or the benefit of a bank or other account may be
applied, set-off or made subject to a combination of accounts; or (z) enter into any other
preferential arrangement having a similar effect, in each case, in circumstances where the
arrangement or transaction is entered into primarily as a method of raising Financial Indebtedness
or of financing the acquisition of an asset (any of the transactions described in this clause (ii),
"Quasi-Security”).

     (b) Paragraph (a) above does not apply to any Security or, as the case may be, Quasi-Security,
which is a Permitted Security.

     SECTION 2.08. Disposals. (a) Except as permitted under paragraph (b) below, no Obligor shall
(and Parent shall ensure that no other member of the Group will) enter into a single transaction or
a series of transactions (whether related or not and whether voluntary or involuntary) to sell,
lease, transfer or otherwise dispose of any asset.

     (b) Paragraph (a) above does not apply to any sale, lease, transfer or other disposal which is
a Permitted Disposal, a Permitted Share Issue or any Permitted Merger referred to in clause (d) of
the definition of Permitted Merger.

     SECTION 6.09. Arm’s Length Basis. (a) Except as permitted by paragraph (b) below, no Obligor
shall (and Parent shall ensure no other member of the Group will) enter into any transaction with
any Affiliate that is not an Obligor on terms that are less

 

87

favorable to such Obligor than those that it could have been obtained in a comparable
transaction with an unrelated Person or, if there is no such comparable transaction, on terms that
are not fair and reasonable to such Obligor.

     (b) The following transactions shall not be a breach of this Section 6.09: (i) intra-Group
loans permitted under Section 6.10; (ii) fees, costs and expenses payable in connection with the
Transactions in the amounts set out in the relevant transaction documents or otherwise or agreed to
by the Administrative Agent; (iii) any employment agreement or other employee compensation plan or
arrangement (including stock purchase and stock option plans) entered into (or amended, restated or
supplemented from time to time) by Parent, Target or any member of the Group or Target Group (x) in
the ordinary course of business of Parent or such member of the Group (or otherwise approved by the
board of directors of Parent) or (y) in connection with the Merger, the Synergies Implementation
Plan or any integration plan relating to the Merger, including, for the avoidance of doubt, any
compensation plan, incentive plan, retention plan, severance plan, stock purchase plan, stock
option plan and any other arrangement involving officers, directors or employees of any member of
the Group (including any member of the Target Group) relating thereto and any transaction
contemplated by any of the foregoing; provided, that, in the case of (A) any such stock option or
free share plans subject to this clause (iii) that are applicable only to executive officers or
other members of senior management, such plans are approved by Parent’s board of directors pursuant
to a recommendation by an appropriate committee of Parent’s board of directors, (B) any other plans
subject to this clause (iii) that are applicable only to Parent’s chief executive officer, Parent’s
presidents and/or the Target’s president, such plans are approved by Parent’s board of directors
pursuant to a recommendation by an appropriate committee of Parent’s board of directors, and (C)
any other plans subject to this clause (iii) that are applicable to executive officers or other
members of senior management (other than the chief executive officer and/or the presidents), such
plans are approved by Parent’s chief executive officer; and (iv) loans or advances to officers,
directors and employees of Parent or any member of the Group made in the ordinary course of
business and consistent with past practices of Parent and the Group in an aggregate amount not to
exceed $5,000,000 outstanding at any one time.

     SECTION 6.10. Loans or Credit. (a) Except as permitted under paragraph (b) below, no Obligor
shall (and Parent shall ensure that no other member of the Group will) be a creditor in respect of
any Financial Indebtedness.

     (b) Paragraph (a) above does not apply to a Permitted Loan.

     SECTION 6.11. No Guarantees or Indemnities. (a) Except as permitted under paragraph (b)
below, no Obligor shall (and Parent shall ensure that no member of the Group will) incur, or allow
to remain outstanding, any guarantee in respect of any obligation of any person.

     (b) Paragraph (a) does not apply to a guarantee which is a Permitted Guarantee.

 

88

     SECTION 6.12. Dividends and Share Redemption. (a) Except as permitted under paragraph (b)
below, Parent shall ensure that no member of the Group will (i) declare, make or pay any dividend,
charge, fee or other distribution (or interest on any unpaid dividend, charge, fee or other
distribution) (whether in cash or in kind) on, or in respect of, its share capital (or any class of
its share capital); (ii) repay or distribute any dividend or share premium reserve; (iii) pay, or
allow any member of the Group to pay, any management, advisory or other fee to, or to the order of,
any shareholder holding 10% or more of the Equity Interests of Parent; or (iv) redeem, repurchase,
defease, retire or repay any of its share capital or resolve to do so (any of the transactions
described in clauses (i) through (iv) above, a “Restricted Payment”).

     (b) Paragraph (a) does not apply as follows: (i) any dividend or share redemption constituting
a Permitted Share Issue may be made; (ii) (x) any Subsidiary of Parent may pay dividends or return
capital to Parent or any wholly owned Subsidiary of Parent, and (y) any non-wholly owned Subsidiary
of Parent may pay cash dividends to its shareholders generally so long as Parent or its respective
Subsidiary which owns the ownership interests in the Subsidiary paying such dividends receives at
least its proportionate share thereof (based upon its relative holding of the ownership interests
in the Subsidiary paying such dividends and taking into account the relative preferences, if any,
of the various classes of ownership interests of such Subsidiary); (iii) Parent may, so long as no
Event of Default then exists or would result therefrom, pay cash in lieu of issuing fractional
shares of Parent’s common or perpetual preferred Equity Interests; (iv) so long as no Event of
Default then exists or would result therefrom, Parent may repurchase its common or perpetual
preferred Equity Interests (and/or options or warrants in respect thereof) pursuant to, and in
accordance with the terms of, (x) any employment agreement, plan or arrangement of a type described
in Section 6.09(b)(iii), provided that the aggregate amount of cash paid in respect of all such
repurchases in any calendar year pursuant to this subclause (x) does not exceed $25,000,000
(excluding any amounts paid in connection with stock options of the Target cancelled in the Merger)
and (y) the liquidity contract between Parent and Société Rothschild & Cie Banque dated November 1,
2005, provided that the net obligations of Parent pursuant to this clause (y) does not exceed
€50,000,000 at any time; (v) Parent may issue and exchange shares of any class or series of its
common or perpetual preferred Equity Interests now or hereafter outstanding for shares of any other
class or series of its common or perpetual preferred Equity Interests now or hereafter outstanding;
(vi) Parent may, in connection with any reclassification of its common or perpetual preferred
Equity Interests and any exchange permitted by clause (v) above, pay cash in de minimis amounts per
share in lieu of issuing fractional shares of any class or series of its common or perpetual
preferred Equity Interests; (vii) Parent may issue shares of any class or series of its common or
perpetual preferred Equity Interests (including, without limitation, Parent’s American Depositary
Shares) required to be issued upon conversion of the Target Convertible Notes and, after the
Closing Date, repurchase up to the same amount of such Equity Interests (after giving effect to any
stock split, reverse stock split or similar event); provided that Parent may not repurchase more
than the Target Share Repurchase Amount pursuant to this clause (vii); (viii) Parent may make cash
payments to the holders of the Target Convertible Notes in connection with the conversion of such
Target Convertible Notes after the Closing Date of up to an amount equal to the Target Required
Cash

 

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Amount; (ix) Parent (or the relevant Subsidiary) may dividend the capital stock of Sercel
Holding to Parent’s shareholders (including, without limitation, to effect a spin-off of Sercel
Holding), provided that such transaction results in a release of the relevant Sercel Companies as
guarantors of the Existing Bonds pursuant to Clause 10.04 of the Existing Bond Indenture and as
Guarantors hereunder, and provided further that, prior to such dividend, Parent shall prepay
outstanding Term Loans in accordance with Section 2.13(f) in an amount equal to the fair market
value of the capital stock so dividended (as determined by an internationally recognized valuation
firm reasonably satisfactory to the Administrative Agent); and (x) so long as no Event of Default
then exists or would result therefrom, Parent and the Subsidiaries may make other Restricted
Payments (x) other than as provided in subclause (y) below, in an aggregate amount, together with
all other such Restricted Payments, less than or equal to $50,000,000, and (y) from and after the
time at which $50,000,000 of Restricted Payments permitted by this clause (x) have been made, if
the Total Leverage Ratio calculated on a pro forma basis after giving effect to such Restricted
Payment and any financing therefor would be less than or equal to the lesser of (A) 1.75 to 1.00
and (B) the ratio for the most recently ended Relevant Period set forth in Section 6.02(b), in an
amount less than or equal to the Available Amount that is Not Otherwise Applied at the time such
transaction is consummated (it being understood that a single transaction may utilize amounts
available, if any, under both subclause (x) and subclause (y) of this clause (x)).

     SECTION 6.13. Financial Indebtedness. (a) Except as permitted under paragraph (b) below, no
Obligor shall (and Parent shall ensure that no other member of the Group will) incur, or allow to
remain outstanding, any Financial Indebtedness.

     (b) Paragraph (a) above does not apply to Financial Indebtedness which is Permitted Financial
Indebtedness.

     SECTION 6.14. Share Capital. No Obligor shall (and Parent shall ensure no other member of the
Group will) issue any shares except pursuant to a Permitted Share Issue.

     SECTION 6.15. Amendments. No Obligor shall (and Parent shall ensure that no member of the
Group will) amend, vary, novate, supplement, supersede, waive or terminate any term of a
Transaction Document or any other document delivered to the Administrative Agent pursuant to
Section 4.02 or to the Collateral Agent pursuant to Section 5.21, except in writing in accordance
with the provisions of Section 9.08.

     SECTION 6.16. Treasury Transactions. No Obligor shall (and Parent shall ensure that no other
member of the Group will) enter into any Treasury Transaction, other than (a) spot and forward
delivery foreign exchange contracts entered into in the ordinary course of business and not for
speculative purposes; and (b) any Treasury Transaction entered into for the hedging of actual or
projected real exposures arising in the ordinary course business of a member of the Group and not
for speculative purposes.

 

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ARTICLE III

Events of Default

In case of the happening of any of the following events (“Events of Default”):

     (a) An Obligor does not pay, on the relevant due date, any amount payable pursuant to
a Finance Document at the place at and in the currency in which it is expressed to be
payable unless (i) its failure to pay is caused by administrative or technical error; and
(ii) payment is made within 2 Business Days of its due date;

     (b) Any requirement of Section 6.02 is not satisfied or an Obligor does not comply
with the provisions of Section 6.03, 6.05, 6.07 or 6.08;

     (c) An Obligor does not comply with any provision of any Security Document;

     (d) An Obligor does not comply with any provision of the Finance Documents (other than
those referred to in paragraphs (a) and (b) above; provided, however, that no Event of
Default under this paragraph (d) will occur if the failure to comply is capable of remedy
and is remedied within 15 Business Days (or in the case of any Event of Default under
Section 5.01, 5.02 or 5.03, 10 Business Days) of the Administrative Agent giving notice to
the Borrower or relevant Obligor or the Borrower or an Obligor becoming aware of the
failure to comply;

     (e) Any representation or statement made or deemed to be made by an Obligor in the
Finance Documents or any other document delivered by or on behalf of any Obligor under or
in connection with any Finance Document is or proves to have been incorrect or misleading
in any material respect when made or deemed to be made;

     (f) (i) Any Financial Indebtedness of any member of the Group is not paid when due or
within any originally applicable grace period; (ii) any Financial Indebtedness of any
member of the Group is declared to be or otherwise becomes due and payable prior to its
specified maturity as a result of an event of default (however described); (iii) any
commitment for any Financial Indebtedness of any member of the Group is cancelled or
suspended by a creditor of any member of the Group as a result of an event of default
(however described); or (iv) Any creditor of any member of the Group becomes entitled to
declare any Financial Indebtedness of any member of the Group due and payable prior to its
specified maturity as a result of an event of default (however described); provided,
however, that no Event of Default will occur under this paragraph (f) if the aggregate
amount of Financial Indebtedness or commitment for Financial Indebtedness falling within
clauses (i) through (iv) above is less than $15,000,000 (or its equivalent in any other
currency or currencies);

 

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     (g) (i) An Obligor or a Material Subsidiary (x) is unable or admits inability to pay
its debts as they become due, (y) is declared to be unable to pay its debts under
applicable law, or (z) suspends or threatens to suspend making payments on any of its
debts; (ii) the value of the assets of any Obligor is less than its liabilities (taking
into account contingent and prospective liabilities); (iii) a moratorium is declared in
respect of any indebtedness of any Obligor or Material Subsidiary. If a moratorium occurs,
the ending of the moratorium will not remedy any Event of Default caused by such
moratorium; or (iv) Parent or any Obligor or Material Subsidiary which conducts business in
France is in a state of cessation des paiements, or any member of the Group becomes
insolvent for the purpose of any applicable insolvency law;

     (h) (i) Any corporate action, legal proceedings or other procedure or step is taken in
relation to (w) the suspension of payments, a moratorium of any indebtedness, winding-up,
dissolution, administration or reorganization (by way of voluntary arrangement, scheme of
arrangement or otherwise) of any member of the Group other than a solvent liquidation or
reorganization of any member of the Group which is not an Obligor; (x) an assignment for
the benefit of creditors of any member of the Group; (y) the appointment of a liquidator
(other than in respect of a solvent liquidation of a member of the Group which is not an
Obligor), bankruptcy receiver, administrator, or other similar officer in respect of any
member of the Group or any material part of its assets; or (z) enforcement of any Security
over all or any material portion of the assets of the Group, or any analogous procedure or
step is taken in any jurisdiction (each a “Winding-up Petition”); provided that this clause
(i) shall not apply to (A) any involuntary Winding-up Petition which is dismissed within 60
days after the filing or commencement thereof or an order for relief having been entered
with respect thereto; or (B) any corporate action, legal proceedings, Winding-up Petition
or other procedure or step which is part of a solvent reorganization of any member of the
Group permitted under this Agreement; (ii) Parent or any member of the Group commences
proceedings for conciliation in accordance with articles L.611-3 to L.611-15 of the French
Code de Commerce; or (iii) a judgment for sauvegarde, redressement judiciaire, cession
totale de l’entreprise or liquidation judiciaire is entered in relation to Parent or any
member of the Group under articles L.620-1 to L.644-6 of the French Code de Commerce;

     (i) Any expropriation, attachment, sequestration, distress or execution or any of the
enforcement proceedings provided for in French law no. 91 650 of 9 July 1991, or any
analogous process in any jurisdiction, affects any asset or assets of a Material Subsidiary
and is not discharged within 14 days;

     (j) (i) It is or becomes unlawful for an Obligor to perform any of its obligations
under the Finance Documents, any Transaction Security created or expressed to be created or
evidenced by the Security Documents ceases to be effective or any subordination created
under the Intercreditor Agreement is or becomes unlawful; (ii) any obligation or
obligations of any Obligor under any Finance Documents are not (subject to the Legal
Reservations), or cease to be,

 

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legal, valid, binding or enforceable and the cessation individually or cumulatively
materially and adversely effects the interests of the Lenders under the Finance Documents;
or (iii) any Finance Document ceases to be in full force and effect or any Transaction
Security ceases to be legal, valid, binding, enforceable or effective or is alleged by a
party to it (other than a Finance Party) to be ineffective;

     (k) Any Obligor or Material Subsidiary suspends or ceases to carry on (or threatens to
suspend or cease to carry on) all or a material part of its business except as a result of
a disposal which is a Permitted Disposal or a Permitted Merger;

     (l) (i) An Obligor (other than Parent) ceases to be a wholly owned (directly or
indirectly) Subsidiary of Parent; or (ii) an Obligor ceases to own at least the same
percentage of shares in a Material Subsidiary, except, in either case, as a result of a
disposal which is a Permitted Disposal, Permitted Share Issue or a Permitted Merger;

     (m) The Auditors qualify the audited annual consolidated financial statements of
Parent;

     (n) The authority or ability of any Obligor or Material Subsidiary to conduct its
business is limited or wholly or substantially curtailed by any seizure, expropriation,
nationalization, intervention, restriction or other action by or on behalf of any
governmental, regulatory or other authority or other person in relation to any Obligor or
Material Subsidiary or any of its assets;

     (o) An Obligor (or any other relevant party) rescinds, or purports to rescind, or
repudiates, or purports to repudiate, a Finance Document or any of the Transaction Security
or evidences an intention to rescind or repudiate a Finance Document or any Transaction
Security;

     (p) Any litigation, arbitration, administrative, governmental, regulatory or other
investigations, proceedings or disputes are commenced (a) in relation to the Transaction
Documents or the transactions contemplated in the Transaction Documents or (b) against any
member of the Group or its assets which has or is reasonably likely to have a Material
Adverse Effect;

     (q) Any member of the Group does not enter into any Security Documents within the
period contemplated in any Finance Document by reason of any failure by any person to
complete any financial assistance or corporate benefit procedures; or

     (r) A Change of Control occurs;

     then, and in every such event (other than an event with respect to Parent or the Borrower
described in paragraph (g) or (h) above), and at any time thereafter during the continuance of such
event, the Administrative Agent may, without mise en demeure or

 

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any other judicial or extra judicial step, and shall if so directed by the Majority Lenders,
by notice to the Borrower but subject to the mandatory provisions of articles L.620 1 to L.628 3 of
the French Code de Commerce, take either or both of the following actions, at the same or different
times: (i) terminate forthwith the Commitments and (ii) declare the Loans then outstanding to be
forthwith due and payable in whole or in part, whereupon the principal of the Loans so declared to
be due and payable, together with accrued interest thereon and any unpaid accrued Fees and all
other liabilities of the Borrower accrued hereunder and under any other Finance Document, shall
become forthwith due and payable, without presentment, demand, protest or any other notice of any
kind, all of which are hereby expressly waived by the Borrower, anything contained herein or in any
other Finance Document to the contrary notwithstanding; and in any event with respect to Parent or
the Borrower described in paragraph (g) or (h) above, the Commitments shall automatically terminate
and the principal of the Loans then outstanding, together with accrued interest thereon and any
unpaid accrued Fees and all other liabilities of the Borrower accrued hereunder and under any other
Finance Document, shall automatically become due and payable, without presentment, demand, protest
or any other notice of any kind, all of which are hereby expressly waived by the Borrower, anything
contained herein or in any other Finance Document to the contrary notwithstanding.

ARTICLE
VIII

The Administrative Agent and the Collateral Agent

     Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent
and the Collateral Agent (for purposes of this Article VIII, the Administrative Agent and the
Collateral Agent are referred to collectively as the “Agents”) its agent and authorizes the Agents
to take such actions on its behalf and to exercise such powers as are delegated to such Agent by
the terms of the Finance Documents, together with such actions and powers as are reasonably
incidental thereto. Without limiting the generality of the foregoing, the Agents are hereby
expressly authorized to execute and deliver, without the need for any further authority from the
Secured Parties, the Intercreditor Agreement, each other Security Document and any and all other
documents (including releases) with respect to the Transaction Security, the Collateral and the
rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the
provisions of this Agreement and the Security Documents.

     Each bank serving as an Agent hereunder shall have the same rights and powers in its capacity
as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such
bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of
business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not an Agent
hereunder.

     No Agent shall have any duties or obligations except those expressly set forth in the Finance
Documents. Without limiting the generality of the foregoing, (a) no Agent shall be subject to any
fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing,
(b) no Agent shall have any duty to take any discretionary action or exercise any discretionary
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expressly contemplated hereby that such Agent is instructed in writing to exercise by the
Majority Lenders (or such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 9.08), and (c) except as expressly set forth in the Finance
Documents, no Agent shall have any duty to disclose, nor shall it be liable for the failure to
disclose, any information relating to the Borrower or any of the other Subsidiaries that is
communicated to or obtained by a bank serving as an Agent or any of its Affiliates in any capacity.
No Agent shall be liable for any action taken or not taken by it with the consent or at the request
of the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary
under the circumstances as provided in Section 9.08) or in the absence of its own gross negligence
or willful misconduct. No Agent shall be deemed to have knowledge of any Default unless and until
written notice thereof is given to such Agent by the Borrower or a Lender, and no Agent shall be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with any Finance Document, (ii) the contents of any
certificate, report or other document delivered thereunder or in connection therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set
forth in any Finance Document, (iv) the validity, enforceability, effectiveness or genuineness of
any Finance Document or any other agreement, instrument or document, or (v) the satisfaction of any
condition set forth in Article IV or elsewhere in any Finance Document, other than to confirm
receipt of items expressly required to be delivered to such Agent.

     Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon,
any notice, request, certificate, consent, statement, instrument, document or other writing
believed by it to be genuine and to have been signed or sent by the proper person. Each Agent may
also rely upon any statement made to it orally or by telephone and believed by it to have been made
by the proper person, and shall not incur any liability for relying thereon. Each Agent may consult
with legal counsel (who may be counsel for the Borrower), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts.

     Each Agent may perform any and all its duties and exercise its rights and powers by or through
any one or more sub-agents appointed by it. Each Agent and any such sub-agent may perform any and
all its duties and exercise its rights and powers by or through their respective Related Parties.
The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the
Related Parties of each Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the Facilities as well as activities as Agent.

     Subject to the appointment and acceptance of a successor Agent as provided below, either Agent
may resign at any time by notifying the Lenders, the Issuing Bank and the Borrower. Upon any such
resignation, the Majority Lenders shall have the right, in consultation with the Borrower, to
appoint a successor. If no successor shall have been so appointed by the Majority Lenders and shall
have accepted such appointment within 30 days after the retiring Agent gives notice of its
resignation, then the retiring Agent may, on behalf of the Lenders and the Issuing Bank, in
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appoint a successor Agent which shall be a bank with an office in New York, New York, or an
Affiliate of any such bank. Upon the acceptance of its appointment as Agent hereunder by a
successor, such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its
duties and obligations hereunder. The fees payable by the Borrower to a successor Agent shall be
the same as those payable to its predecessor unless otherwise agreed between the Borrower and such
successor. After an Agent’s resignation hereunder, the provisions of this Article and Section 9.05
shall continue in effect for the benefit of such retiring Agent, its sub-agents and their
respective Related Parties in respect of any actions taken or omitted to be taken by any of them
while acting as Agent.

     Each Lender acknowledges that it has, independently and without reliance upon the Agents or
any other Lender and based on such documents and information as it has deemed appropriate, made its
own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that
it will, independently and without reliance upon the Agents or any other Lender and based on such
documents and information as it shall from time to time deem appropriate, continue to make its own
decisions in taking or not taking action under or based upon this Agreement or any other Finance
Document, any related agreement or any document furnished hereunder or thereunder.

ARTICLE
IX

Miscellaneous

     SECTION 9.01. Notices. Notices and other communications provided for herein shall be in
writing and shall be delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by fax, as follows:

     (a) if to the Borrower or Parent, to it at Tour Montparnasse — 33 avenue du Maine — 75755
Paris Cedex 15, France, Attention of Mr. Stéphane-Paul Frydman (Fax No. +33 (0)1 64 47 34 31),
with a copy to 10300 Town Park Drive, Houston, TX 77072, Attention of Frances Crumb (Fax No. (832)
351-8792);

     (b) if to the Administrative Agent, the Collateral Agent, the Swingline Lender or the Issuing
Bank, to Credit Suisse, Eleven Madison Avenue, New York, NY 10010, Attention of Agency Group (Fax
No. (212) 325-8304);

     (c) if to a Lender, to it at its address (or fax number) set forth on Schedule 2.01 or in the
Assignment and Acceptance pursuant to which such Lender shall have become a party hereto.

     All notices and other communications given to any party hereto in accordance with the
provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered
by hand or overnight courier service or sent by fax or on the date five Business Days after
dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed
(properly addressed) to such party as provided in this Section

 

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9.01 or in accordance with the latest unrevoked direction from such party given in accordance
with this Section 9.01. As agreed to among Parent, the Borrower, the Administrative Agent, the
Collateral Agent, the Swingline Lender, the Issuing Bank and the applicable Lenders from time to
time (or, in the case of any notice delivered by the Borrower to the Administrative Agent pursuant
to any provision of Article II, as agreed to by the Borrower and the Administrative Agent
specifically with respect to such notice), notices and other communications (other than any notice
delivered pursuant to Section 5.06) may also be delivered by e-mail to the e-mail address of a
representative of the applicable person provided from time to time by such person.

     SECTION
9.02. Survival of Agreement. All covenants, agreements, representations and
warranties made by the Borrower or Parent herein and in the certificates or other instruments
prepared or delivered in connection with or pursuant to this Agreement or any other Finance
Document shall be considered to have been relied upon by the Lenders and the Issuing Bank and shall
survive the making by the Lenders of the Loans and the issuance of Letters of Credit by the Issuing
Bank, regardless of any investigation made by the Lenders or the Issuing Bank or on their behalf,
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 or any other Finance Document
is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments
have not been terminated. The provisions of Sections 2.14, 2.16, 2.20 and 9.05 shall remain
operative and in full force and effect regardless of the expiration of the term of this Agreement,
the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the
expiration of the Commitments, the expiration of any Letter of Credit, the invalidity or
unenforceability of any term or provision of this Agreement or any other Finance Document, or any
investigation made by or on behalf of the Administrative Agent, the Collateral Agent, any Lender or
the Issuing Bank.

     SECTION 9.03. Binding Effect. This Agreement shall become effective when it shall have been
executed by the Borrower, Parent, the Administrative Agent, the Collateral Agent, the Swingline
Lender and the Issuing Bank, and when the Administrative Agent shall have received counterparts
hereof which, when taken together, bear the signatures of each of the other parties hereto.

     SECTION 9.04. Successors and Assigns. (a) Whenever in this Agreement any of the parties
hereto is referred to, such reference shall be deemed to include the permitted successors and
assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrower,
Parent, the Administrative Agent, the Collateral Agent, the Issuing Bank or the Lenders that are
contained in this Agreement shall bind and inure to the benefit of their respective successors and
assigns.

     (b) Each Lender may assign to one or more assignees all or a portion of its interests, rights
and obligations under this Agreement (including all or a portion of its Commitment and the Loans at
the time owing to it), with notice to the Borrower and the prior written consent of the
Administrative Agent (not to be unreasonably withheld or delayed); provided, however, that (i) in
the case of an assignment of a Revolving Credit Commitment, each of the Borrower, the Issuing Bank
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also give its prior written consent to such assignment (which consent shall not be
unreasonably withheld or delayed) (provided, that the consent of the Borrower shall not be required
to any such assignment made (x) to another Lender or an Affiliate of a Lender, (y) after the
occurrence and during the continuance of any Event of Default or (z) during the primary syndication
of the Facilities pursuant to a syndication strategy agreed upon by the Administrative Agent and
Parent), (ii) the amount of the Commitment or Loans of the assigning Lender subject to each such
assignment (determined as of the date the Assignment and Acceptance with respect to such assignment
is delivered to the Administrative Agent) shall be in an integral multiple of, and not less than,
$1,000,000 in the case of Term Loan Commitments or Term Loans or $2,500,000 in the case of
Revolving Credit Commitments or Revolving Loans (or, if less, the entire remaining amount of such
Lender’s Commitment or Loans of the relevant Class), provided that, in each case, such minimum
amount shall be aggregated for two or more simultaneous assignments to or by two or more Related
Funds, (iii) the parties to each such assignment shall (x) (A) electronically execute and deliver
to the Administrative Agent an Assignment and Acceptance via an electronic settlement system
acceptable to the Administrative Agent (which initially shall be ClearPar, LLC) or (B) if
previously agreed with the Administrative Agent, manually execute and deliver to the Administrative
Agent an Assignment and Acceptance, and (y) pay to the Administrative Agent a processing and
recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the
Administrative Agent), and (iv) the assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire and all applicable tax forms. Upon acceptance
and recording pursuant to paragraph (e) of this Section 9.04, from and after the effective date
specified in each Assignment and Acceptance, (A) the assignee thereunder shall be a party hereto
and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and
obligations of a Lender under this Agreement and (B) the assigning Lender thereunder shall, to the
extent of the interest assigned by such Assignment and Acceptance, be released from its obligations
under this Agreement (and, in the case of an Assignment and Acceptance covering all or the
remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender
shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections
2.14, 2.16, 2.20 and 9.05, as well as to any Fees accrued for its account and not yet paid).

     (c) By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder
and the assignee thereunder shall be deemed to confirm to and agree with each other and the other
parties hereto as follows: (i) such assigning Lender warrants that it is the legal and beneficial
owner of the interest being assigned thereby free and clear of any adverse claim and that its Term
Loan Commitment and Revolving Credit Commitment, and the outstanding balances of its Term Loans and
Revolving Loans, in each case without giving effect to assignments thereof which have not become
effective, are as set forth in such Assignment and Acceptance, (ii) except as set forth in (i)
above, such assigning Lender makes no representation or warranty and assumes no responsibility with
respect to any statements, warranties or representations made in or in connection with this
Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value
of this Agreement, any other Finance Document or any other instrument or document furnished
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Parent or any Subsidiary or the performance or observance by Parent or any Subsidiary of any
of its obligations under this Agreement, any other Finance Document or any other instrument or
document furnished pursuant hereto; (iii) such assignee represents and warrants that it is legally
authorized to enter into such Assignment and Acceptance; (iv) such assignee confirms that it has
received a copy of this Agreement, together with copies of the most recent financial statements
referred to in Section 3.16 or delivered pursuant to Section 5.01 and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into
such Assignment and Acceptance; (v) such assignee will independently and without reliance upon the
Administrative Agent, the Collateral Agent, such assigning Lender or any other Lender and based on
such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under this Agreement; (vi) such assignee appoints
and authorizes the Administrative Agent and the Collateral Agent to take such action as agent on
its behalf and to exercise such powers under this Agreement as are delegated to the Administrative
Agent and the Collateral Agent, respectively, by the terms hereof, together with such powers as are
reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance
with their terms all the obligations which by the terms of this Agreement are required to be
performed by it as a Lender.

     (d) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance
delivered to it and a register for the recordation of the names and addresses of the Lenders, and
the Commitment of, and principal amount of the Loans owing to, each Lender pursuant to the terms
hereof from time to time (the “Register”). The entries in the Register shall be conclusive and the
Borrower, the Administrative Agent, the Issuing Bank, the Collateral Agent and the Lenders may
treat each person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by the Borrower, the Issuing Bank, the Collateral Agent and any
Lender, at any reasonable time and from time to time upon reasonable prior notice.

     (e) Upon its receipt of, and consent to, a duly completed Assignment and Acceptance executed
by an assigning Lender and an assignee, an Administrative Questionnaire completed in respect of the
assignee (unless the assignee shall already be a Lender hereunder), the processing and recordation
fee referred to in paragraph (b) above, if applicable, and the written consent of the
Administrative Agent and, if required, the Borrower, the Swingline Lender and the Issuing Bank to
such assignment and any applicable tax forms (including, in respect of any Foreign Lender, a
properly completed IRS Form W-8 in accordance with Section 2.20(e) of this Agreement), the
Administrative Agent shall promptly (i) accept such Assignment and Acceptance and (ii) record the
information contained therein in the Register. No assignment shall be effective unless it has been
recorded in the Register as provided in this paragraph (e).

     (f) Each Lender may without the consent of the Borrower, the Swingline Lender, the Issuing
Bank or the Administrative Agent sell participations to one or more banks or

 

99

other persons in all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans owing to it); provided, however, that
(i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall
remain solely responsible to the other parties hereto for the performance of such obligations,
(iii) the participating banks or other persons shall be entitled to the benefit of the cost
protection provisions contained in Sections 2.14, 2.16 and 2.20 to the same extent as if they were
Lenders (but, with respect to any particular participant, to no greater extent than the Lender that
sold the participation to such participant) and (iv) the Borrower, the Administrative Agent, the
Issuing Bank and the Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement, and such Lender shall
retain the sole right to enforce the obligations of the Borrower relating to the Loans or L/C
Disbursements and to approve any amendment, modification or waiver of any provision of this
Agreement (other than amendments, modifications or waivers decreasing any fees payable to such
participating bank or person hereunder or the amount of principal of or the rate at which interest
is payable on the Loans in which such participating bank or person has an interest, extending any
scheduled principal payment date or date fixed for the payment of interest on the Loans in which
such participating bank or person has an interest, increasing or extending the Commitments in which
such participating bank or person has an interest or releasing any Guarantor (other than in
connection with the sale, transfer or other disposal of such Guarantor in a transaction permitted
by Section 6.08) or all or substantially all of the Collateral).

     (g) Any Lender or participant may, in connection with any assignment or participation or
proposed assignment or participation pursuant to this Section 9.04, disclose to the assignee or
participant or proposed assignee or participant any information relating to the Borrower furnished
to such Lender by or on behalf of the Borrower; provided that, prior to any such disclosure of
information designated by the Borrower as confidential, each such assignee or participant or
proposed assignee or participant shall execute an agreement whereby such assignee or participant
shall agree (subject to customary exceptions) to preserve the confidentiality of such confidential
information on terms no less restrictive than those applicable to the Lenders pursuant to Section
9.16.

     (h) Any Lender may at any time assign all or any portion of its rights under this Agreement to
secure extensions of credit to such Lender or in support of obligations owed by such Lender to any
party (including, without limitation, any Federal Reserve Bank); provided that no such assignment
shall release a Lender from any of its obligations hereunder or substitute any such assignee for
such Lender as a party hereto.

     (i) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle (an “SPC”), identified as such in writing
from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option
to provide to the Borrower all or any part of any Loan that such Granting Lender would otherwise be
obligated to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein
shall constitute a commitment by any SPC to make any Loan and (ii) if an SPC elects not to exercise
such option or otherwise fails to provide all or any part of such Loan, the Granting Lender

 

100

shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an
SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if,
such Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPC shall be
liable for any indemnity or similar payment obligation under this Agreement (all liability for
which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto
hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the
date that is one year and one day after the payment in full of all outstanding commercial paper or
other senior indebtedness of any SPC, it will not institute against, or join any other person in
instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings under the laws of the United States or any State thereof. In addition,
notwithstanding anything to the contrary contained in this Section 9.04, any SPC may (i) with
notice to, but without the prior written consent of, the Borrower and the Administrative Agent and
without paying any processing fee therefor, assign all or a portion of its interests in any Loans
to the Granting Lender or to any financial institutions (consented to by the Borrower and
Administrative Agent) providing liquidity and/or credit support to or for the account of such SPC
to support the funding or maintenance of Loans and (ii) disclose on a confidential basis any
non-public information relating to its Loans to any rating agency, commercial paper dealer or
provider of any surety, guarantee or credit or liquidity enhancement to such SPC.

     (j) Neither Parent nor the Borrower shall assign or delegate any of its rights or duties
hereunder without the prior written consent of the Administrative Agent, the Issuing Bank and each
Lender, and any attempted assignment without such consent shall be null and void.

     (k) In the event that any Revolving Credit Lender shall become a Defaulting Lender or S&P,
Moody’s and Thompson’s BankWatch (or InsuranceWatch Ratings Service, in the case of Lenders that
are insurance companies (or Best’s Insurance Reports, if such insurance company is not rated by
Insurance Watch Ratings Service)) shall, after the date that any Lender becomes a Revolving Credit
Lender, downgrade the long-term certificate deposit ratings of such Lender, and the resulting
ratings shall be below BBB-, Baa3 and C (or BB, in the case of a Lender that is an insurance
company (or B, in the case of an insurance company not rated by InsuranceWatch Ratings Service))
(or, with respect to any Revolving Credit Lender that is not rated by any such ratings service or
provider, the Issuing Bank or the Swingline Lender shall have reasonably determined that there has
occurred a material adverse change in the financial condition of any such Lender, or a material
impairment of the ability of any such Lender to perform its obligations hereunder, as compared to
such condition or ability as of the date that any such Lender became a Revolving Credit Lender)
then the Issuing Bank shall have the right, but not the obligation, at its own expense, upon notice
to such Lender and the Administrative Agent, to replace such Lender with an assignee (in accordance
with and subject to the restrictions contained in paragraph (b) above), and such Lender hereby
agrees to transfer and assign without recourse (in accordance with and subject to the restrictions
contained in paragraph (b) above) all its interests, rights and obligations in respect of its
Revolving Credit Commitment to such assignee; provided, however, that (i) no such assignment shall
conflict with any law, rule and regulation or order of any

 

101

Governmental Authority and (ii) the Issuing Bank or such assignee, as the case may be, shall
pay to such Lender in immediately available funds on the date of such assignment the principal of
and interest accrued to the date of payment on the Loans made by such Lender hereunder and all
other amounts accrued for such Lender’s account or owed to it hereunder.

     SECTION 9.05. Expenses; Indemnity. (a) The Borrower and Parent agree, jointly and severally,
to pay all out-of-pocket expenses incurred by the Administrative Agent, the Collateral Agent, the
Issuing Bank and the Swingline Lender in connection with the syndication of the Facilities and the
preparation and administration of this Agreement and the other Finance Documents or in connection
with any amendments, modifications or waivers of the provisions hereof or thereof (whether or not
the transactions hereby or thereby contemplated shall be consummated) or incurred by the
Administrative Agent, the Collateral Agent or any Lender in connection with the enforcement or
protection of its rights in connection with this Agreement and the other Finance Documents or in
connection with the Loans made or Letters of Credit issued hereunder, including the fees, charges
and disbursements of Cravath, Swaine & Moore LLP, counsel for the Administrative Agent and the
Collateral Agent, and, in connection with any such enforcement or protection, the fees, charges and
disbursements of any other outside counsel for the Administrative Agent, the Collateral Agent or
any Lender.

     (b) The Borrower and Parent agree, jointly and severally, to indemnify the Administrative
Agent, the Collateral Agent, each Lender, the Issuing Bank and each Related Party of any of the
foregoing persons (each such person being called an “Indemnitee”) against, and to hold each
Indemnitee harmless from, any and all losses, claims, damages, liabilities and related
out-of-pocket expenses, including reasonable outside counsel fees, charges and disbursements,
incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a
result of (i) the execution or delivery of this Agreement or any other Finance Document or any
agreement or instrument contemplated thereby, the performance by the parties thereto of their
respective obligations thereunder or the consummation of the Transactions and the other
transactions contemplated thereby (including the syndication of the Facilities), (ii) the use of
the proceeds of the Loans or issuance of Letters of Credit, (iii) any claim, litigation,
investigation or proceeding relating to any of the foregoing, whether or not any Indemnitee is a
party thereto, or (iv) any actual or alleged presence or Release of Hazardous Materials on any
property currently or formerly owned or operated by Parent or any of the Subsidiaries, or any
Environmental Liability related in any way to Parent or the Subsidiaries; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by
final and nonappealable judgment to have resulted primarily from the gross negligence or wilful
misconduct of, or the material breach of this Agreement by, such Indemnitee or (y) arise out of any
claim, litigation, investigation or proceeding brought by such Indemnitee against another
Indemnitee (other than any such claim, litigation, investigation or proceeding brought by or
against the Administrative Agent, acting in its capacity as Administrative Agent) that does not
involve any act or omission of the Borrower or any member of the Group.

 

102

     (c) To the extent that the Borrower and Parent fail to pay any amount required to be paid by
them to the Administrative Agent, the Collateral Agent, the Issuing Bank or the Swingline Lender
under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the
Administrative Agent, the Collateral Agent, the Issuing Bank or the Swingline Lender, as the case
may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed
expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was
incurred by or asserted against the Administrative Agent, the Collateral Agent, the Issuing Bank or
the Swingline Lender in its capacity as such. For purposes hereof, a Lender’s “pro rata share”
shall be determined based upon its share of the sum of the Aggregate Revolving Credit Exposure,
outstanding Term Loans and unused Commitments at the time.

     (d) To the extent permitted by applicable law, neither Parent nor the Borrower shall assert,
and each hereby waives, any claim against any Indemnitee, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out
of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds
thereof.

     (e) The provisions of this Section 9.05 shall remain operative and in full force and effect
regardless of the expiration of the term of this Agreement, the consummation of the transactions
contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the
expiration of any Letter of Credit, the invalidity or unenforceability of any term or provision of
this Agreement or any other Finance Document, or any investigation made by or on behalf of the
Administrative Agent, the Collateral Agent, any Lender or the Issuing Bank. All amounts due under
this Section 9.05 shall be payable on written demand therefor.

     SECTION 9.06. Right of Setoff. If an Event of Default shall have occurred and be continuing,
each Lender is hereby authorized at any time and from time to time, except to the extent prohibited
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 Borrower against any of and all the obligations of the Borrower now or
hereafter existing under this Agreement and other Finance Documents held by such Lender,
irrespective of whether or not such Lender shall have made any demand under this Agreement or such
other Finance Document and although such obligations may be unmatured. The rights of each Lender
under this Section 9.06 are in addition to other rights and remedies (including other rights of
setoff) which such Lender may have.

     SECTION 9.07. Applicable Law. THIS AGREEMENT AND THE OTHER FINANCE DOCUMENTS (OTHER THAN
LETTERS OF CREDIT AND AS EXPRESSLY SET FORTH IN OTHER FINANCE DOCUMENTS) SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. EACH LETTER OF CREDIT SHALL BE
GOVERNED BY, AND SHALL BE CONSTRUED IN ACCORDANCE WITH, THE

 

103

LAWS OR RULES DESIGNATED IN SUCH LETTER OF CREDIT, OR IF NO SUCH LAWS OR RULES ARE DESIGNATED,
THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS MOST RECENTLY PUBLISHED AND IN EFFECT, ON
THE DATE SUCH LETTER OF CREDIT WAS ISSUED, BY THE INTERNATIONAL CHAMBER OF COMMERCE (THE “UNIFORM
CUSTOMS”) AND, AS TO MATTERS NOT GOVERNED BY THE UNIFORM CUSTOMS, THE LAWS OF THE STATE OF NEW
YORK.

     SECTION 9.08. Waivers; Amendment. (a) No failure or delay of the Administrative Agent, the
Collateral Agent, any Lender or the Issuing Bank in exercising any power or right hereunder or
under any other Finance Document 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
a right or power, preclude any other or further exercise thereof or the exercise of any other right
or power. The rights and remedies of the Administrative Agent, the Collateral Agent, the Issuing
Bank and the Lenders hereunder and under the other Finance Documents are cumulative and are not
exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of
this Agreement or any other Finance Document or consent to any departure by the Borrower or any
other Obligor therefrom shall in any event be effective unless the same shall be permitted by
paragraph (b) below, and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given. No notice or demand on the Borrower in any case
shall entitle the Borrower to any other or further notice or demand in similar or other
circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Borrower, Parent and the
Majority Lenders; provided, however, that no such agreement shall (i) decrease the principal amount
of, or extend the maturity of or any scheduled principal payment date or date for the payment of
any interest on any Loan or any date for reimbursement of an L/C Disbursement, or waive or excuse
any such payment or any part thereof, or decrease the rate of interest on any Loan or L/C
Disbursement, without the prior written consent of each Lender directly adversely affected thereby,
(ii) increase or extend the Commitment or decrease or extend the date for payment of any Fees of
any Lender without the prior written consent of such Lender, (iii) amend or modify the pro rata
requirements of Section 2.17, the provisions of Section 9.04(j) or the provisions of this Section
or release any Guarantor (other than in connection with the sale, transfer or other disposal of
such Guarantor in a transaction permitted by Section 6.08) or all or substantially all of the
Collateral, without the prior written consent of each Lender, (iv) change the provisions of any
Finance Document in a manner that by its terms adversely affects the rights in respect of payments
due to Lenders holding Loans of one Class differently from the rights of Lenders holding Loans of
any other Class without the prior written consent of Lenders holding a majority in interest of the
outstanding Loans and unused Commitments of each adversely affected Class, (v) modify the
protections afforded to an SPC pursuant to the provisions of Section 9.04(i) without the written
consent of such SPC or (vi) reduce the percentage contained in the definition of the term “Majority
Lenders” without the prior written consent of each Lender (it being understood that with the
consent of the Majority Lenders, additional extensions of credit pursuant to

 

104

this Agreement may be included in the determination of the Majority Lenders on substantially
the same basis as the Term Loan Commitments and Revolving Credit Commitments on the date hereof);
provided further that no such agreement shall amend, modify or otherwise affect the rights or
duties of the Administrative Agent, the Collateral Agent, the Issuing Bank or the Swingline Lender
hereunder or under any other Finance Document without the prior written consent of the
Administrative Agent, the Collateral Agent, the Issuing Bank or the Swingline Lender, as the case
may be.

     SECTION 9.09. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if
at any time the interest rate applicable to any Loan or participation in any L/C Disbursement,
together with all fees, charges and other amounts which are treated as interest on such Loan or
participation in such L/C Disbursement under applicable law (collectively the “Charges”), shall
exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken,
received or reserved by the Lender holding such Loan or participation in accordance with applicable
law, the rate of interest payable in respect of such Loan or participation 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 or
participation but were not payable as a result of the operation of this Section 9.09 shall be
cumulated and the interest and Charges payable to such Lender in respect of other Loans or
participations or periods shall be increased (but not above the Maximum Rate therefor) until such
cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of
repayment, shall have been received by such Lender.

     SECTION 9.10. Entire Agreement. This Agreement, the Fee Letter and the other Finance
Documents constitute the entire contract between the parties relative to the subject matter hereof.
Any other previous agreement among the parties with respect to the subject matter hereof is
superseded by this Agreement and the other Finance Documents. Nothing in this Agreement or in the
other Finance Documents, expressed or implied, is intended to confer upon any person (other than
the parties hereto and thereto, their respective successors and assigns permitted hereunder
(including any Affiliate of the Issuing Bank that issues any Letter of Credit) and, to the extent
expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the
Collateral Agent, the Issuing Bank and the Lenders) any rights, remedies, obligations or
liabilities under or by reason of this Agreement or the other Finance Documents.

     SECTION 9.11. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE
OTHER FINANCE DOCUMENTS. 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

 

105

AND THE OTHER FINANCE DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION 9.11.

     SECTION 9.12. Severability. In the event any one or more of the provisions contained in this
Agreement or in any other Finance Document should be held invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein and
therein shall not in any way be affected or impaired thereby (it being understood that the
invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect
the validity of such provision in any other jurisdiction). The parties shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, illegal
or unenforceable provisions.

     SECTION 9.13. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original but all of
which when taken together shall constitute a single contract, and shall become effective as
provided in Section 9.03. Delivery of an executed signature page to this Agreement by facsimile
transmission shall be as effective as delivery of a manually signed counterpart of this Agreement.

     SECTION 9.14. Headings. Article and Section headings and the Table of Contents used herein
are for convenience of reference only, are not part of this Agreement and are not to affect the
construction of, or to be taken into consideration in interpreting, this Agreement.

     SECTION 9.15. Jurisdiction; Consent to Service of Process. (a) Each of Parent and the
Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the
exclusive jurisdiction of any New York State court or Federal court of the United States of America
sitting in New York City, and any appellate court from any thereof, in any action or proceeding
arising out of or relating to this Agreement, 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 New York State or, to
the extent permitted by law, in 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 shall affect any right that the Administrative Agent, the Collateral Agent, the Issuing
Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement
or the other Finance Documents against Parent, the Borrower or their respective properties in the
courts of any jurisdiction.

     (b) Each of Parent and the Borrower hereby irrevocably and unconditionally waives, to the
fullest extent it may legally and effectively do so, any objection which it may now or hereafter
have to the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement in any court referred to in paragraph (a) above. Each

 

106

of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01; provided that that Parent hereby appoints the Borrower as its
agent for service of process. Nothing in this Agreement will affect the right of any party to this
Agreement to serve process in any other manner permitted by law.

     SECTION 5.16. Confidentiality. Each of the Administrative Agent, the Collateral Agent, the
Issuing Bank and the Lenders agrees to maintain the confidentiality of the Information (as defined
below), except that Information may be disclosed (a) to its and its Affiliates’ officers,
directors, trustees, employees and agents, including accountants, legal counsel and other advisors
(it being understood that the persons to whom such disclosure is made will be informed of the
confidential nature of such Information and instructed to keep such Information confidential), (b)
to the extent requested by any regulatory authority or quasi-regulatory authority (such as the
National Association of Insurance Commissioners), (c) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, provided that, unless specifically
prohibited by applicable law, regulation or court order, the disclosing party shall (to the extent
reasonably practicable) notify the Borrower of any request by any Government Authority or
representative thereof (other than any such request in connection with any examination of the
financial condition of such Lender by such Government Authority) for disclosure of any Information
prior to disclosure of such Information, (d) in connection with the exercise of any remedies
hereunder or under the other Finance Documents or any suit, action or proceeding relating to the
enforcement of its rights hereunder or thereunder, (e) subject to an agreement containing
provisions substantially the same as those of this Section 9.16, to (i) any actual or prospective
assignee of or participant in any of its rights or obligations under this Agreement and the other
Finance Documents or (ii) any actual or prospective counterparty (or its advisors) to any swap or
derivative transaction relating to the Borrower or any Subsidiary or any of their respective
obligations, (f) with the consent of the Borrower or (g) to the extent such Information becomes
publicly available other than as a result of a breach of this Section 9.16. For the purposes of
this Section, “Information” shall mean all information received from the Borrower or Parent and
related to the Borrower or Parent or their business, other than any such information that was
available to the Administrative Agent, the Collateral Agent, the Issuing Bank or any Lender on a
nonconfidential basis prior to its disclosure by the Borrower or Parent; provided that, in the case
of Information received from the Borrower or Parent after the date hereof, such information is
clearly identified at the time of delivery as confidential. Any person required to maintain the
confidentiality of Information as provided in this Section 9.16 shall be considered to have
complied with its obligation to do so if such person has exercised the same degree of care to
maintain the confidentiality of such Information as such person would accord its own confidential
information.

 

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     SECTION 9.17. USA PATRIOT Act Notice. Each Lender and the Administrative Agent (for itself
and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of
the USA PATRIOT Act, it is required to obtain, verify and record information that identifies Parent
and the Borrower, which information includes the name and address of Parent and the Borrower and
other information that will allow such Lender or the Administrative Agent, as applicable, to
identify Parent and the Borrower in accordance with the USA PATRIOT Act.

 

108

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

	 	 	 	 	 	 	 
	 	 	VOLNAY ACQUISITION CO. I,	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	/s/ Robert Brunck	 	 
	 

	 	 	 	 

Name: Robert Brunck
	 	 
	 

	 	 	 	Title: President	 	 
	 
	 	 	 	 	 	 
	 	 	COMPAGNIE GÉNÉRALE DE

GÉOPHYSIQUE,	 	 
	 

	 	by	 	/s/ Robert Brunck	 	 
	 

	 	 	 	 

Name: Robert Brunck
	 	 
	 

	 	 	 	Title: Chairman and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CREDIT SUISSE, CAYMAN ISLANDS
BRANCH, individually and as
Administrative Agent, Collateral Agent,
Swingline Lender and Issuing Bank,	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	/s/ Casandra Droogan	 	 
	 

	 	 	 	 

Name: Casandra Droogan
	 	 
	 

	 	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	/s/ Laurence Lapeyre	 	 
	 

	 	 	 	 

Name: Laurence Lapeyre
	 	 
	 

	 	 	 	Title: Associate	 	 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	SIGNATURE PAGE TO THE
	 

	 	 	 	 	 	VOLNAY ACQUISITION CO. I
	 

	 	 	 	 	 	CREDIT AGREEMENT
	 
	 	 	 	 	 	 
	 

	 	 
as a Lender,	, 
	 
	 

	 	by	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:EX-4.26

 

Exhibit 4.26

Compagnie Générale de Géophysique — Veritas

$200,000,000 71/2% Senior Notes due 2015

$400,000,000 73/4% Senior Notes Due 2017

UNDERWRITING AGREEMENT

February 2, 2007

CREDIT SUISSE SECURITIES (EUROPE) LIMITED,

As Representative of the several Underwriters

BNP PARIBAS SECURITIES CORP.,

CALYON SECURITIES (USA), INC.,

NATEXIS BLEICHROEDER INC., and

SG AMERICAS SECURITIES, LLC (collectively, the “Underwriters”)

     c/o Credit Suisse Securities (Europe) Limited (“CS”)

     One Cabot Square

     London, England E14 4QJ

Dear Sirs:

     1. Introductory.

     (a) Compagnie Générale de Géophysique-Veritas (the “Company”), a société anonyme
incorporated under the laws of France and registered at the Paris Commercial Registry under
Number B 969 202 241 (69B00224), agrees, subject to the terms and conditions stated herein,
to issue and sell to the underwriters named in Schedule A hereto (the “Underwriters”) (i)
U.S.$200,000,000 in aggregate principal amount of its 71/2% Senior Notes due 2015 (the
“Additional Notes”) to be issued under a supplemental indenture (the “Supplemental
Indenture”) to the indenture dated April 28, 2005 (the “Original Indenture”), among the
Company, the guarantors party thereto and JPMorganChase Bank, National Association, as
trustee (the “Trustee”), such Additional Notes representing a single series of securities
with and having the same conditions as the U.S.$330,000,000 aggregate principal amount of the
71/2% Senior Notes due 2015 issued on 28 April 2005 and February 3, 2006 and (ii)
U.S.$400,000,000 in aggregate principal amount of its 73/4% Senior Notes due 2017 (the “New
Notes”, and together with the Additional Notes, the “Notes” or the “Securities”) under a new
indenture (the “New Indenture”, and together with the Original Indenture (as supplemented by
the supplemental indenture dated January 12, 2007 among Compagnie Générale de Géophysique
(“CGG”), the guarantors named therein and The Bank of New York, as trustee, and as further
supplemented by the Supplemental Indenture), the “Indentures”) among the Company, the
Guarantors (as defined below) and The Bank of New York Trust Company, National Association,
as Trustee.

     (b) Application has been made to list the Notes on the Euro MTF Market of the Luxembourg
Stock Exchange.

     The Company’s obligations under the Securities, including the due and punctual payment of
interest on the offered Securities, shall be unconditionally guaranteed pursuant to the each of the
Indentures, (each a “Guarantee”, and collectively, the “Guarantees”) on a senior basis by each
of the Company’s subsidiaries indicated as Guarantors on Schedule C hereto (together, the
“Guarantors”).

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     Capitalised terms not otherwise defined herein shall have the meaning ascribed to such terms
in the Indentures.

     The Company hereby agrees with the several Underwriters as follows:

     2. Representations and Warranties of the Company and Guarantors. The Company represents and
warrants to, and agrees with, and, to the extent applicable to the Guarantors and Guarantees, each
Guarantor represents and warrants to, and agrees with, the several Underwriters that as of the date
of this Agreement and the Closing Date (as defined below):

     (a) The Company has filed with the United States Securities and Exchange Commission (the
“Commission”) a registration statement on Forms F-3 and S-3 (No. 333-140274 and 333-140275)
covering the registration of the Securities under the Act, which has become effective.
“Registration Statement” at any particular time means such registration statement in the form
then filed with the Commission, including any amendment thereto, any document incorporated by
reference therein and all 430B Information and all 430C Information with respect to such
registration statement, that in any case has not been superseded or modified. “Registration
Statement” without reference to a time means the Registration Statement as of the Effective
Time. For purposes of this definition, 430B Information shall be considered to be included
in the Registration Statement as of the time specified in Rule 430B.

     For purposes of this Agreement:

     “430B Information” means information included in a prospectus then deemed to be a part
of the Registration Statement pursuant to Rule 430B(e) or retroactively deemed to be a part
of the Registration Statement pursuant to Rule 430B(f).

     “430C Information” means information included in a prospectus then deemed to be a part
of the Registration Statement pursuant to Rule 430C.

     “Act” means the Securities Act of 1933, as amended.

     “Applicable Time” means 3:00 p.m. (London time) on the date of this Agreement.

     “Closing Date” has the meaning defined in Section 3 hereof.

     “Effective Time” of the Registration Statement relating to the Securities means the time
of the first contract of sale for the Securities.

     “Exchange Act” means the Securities Exchange Act of 1934.

     “Final Prospectus” means the Statutory Prospectus that discloses the public offering
price, other 430B Information and other final terms of the Securities and otherwise satisfies
Section 10(a) of the Act.

     “General Use Issuer Free Writing Prospectus” means any Issuer Free Writing Prospectus
that is intended for general distribution to prospective investors, as evidenced by its being
so specified in Schedule B to this Agreement.

     “Issuer Free Writing Prospectus” means any “issuer free writing prospectus,” as defined
in Rule 433, relating to the Securities in the form filed or required to be filed
with the Commission or, if not required to be filed, in the form retained in the Company’s
records pursuant to Rule 433(g).

     “Limited Use Issuer Free Writing Prospectus” means any Issuer Free Writing Prospectus
that is not a General Use Issuer Free Writing Prospectus. 

     “Rules and Regulations” means the rules and regulations of the Commission.

     “Securities Laws” means, collectively, the Sarbanes-Oxley Act of 2002
(“Sarbanes-Oxley”), the Act, the Exchange Act, the Trust Indenture Act, the Rules and
Regulations, the auditing principles, rules, standards and practices applicable to auditors
of “issuers” (as defined in

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Sarbanes-Oxley) promulgated or approved by the Public Company
Accounting Oversight Board and, as applicable, the rules of the New York Stock Exchange and
the NASDAQ Stock Market (“Exchange Rules”).

     “Statutory Prospectus” with reference to any particular time means the prospectus
relating to the Securities that is included in the Registration Statement immediately prior
to that time, including any document incorporated by reference therein and all 430B
Information and all 430C Information with respect to the Registration Statement. For
purposes of the foregoing definition, 430B Information shall be considered to be included in
the Statutory Prospectus only as of the actual time that form of prospectus is filed with
the Commission pursuant to Rule 424(b) and not retroactively.

     “Trust Indenture Act” means the Trust Indenture Act of 1939.

     Unless otherwise specified, a reference to a “rule” is to the indicated rule under the Act.

     (b) (i) (A) At the time the Registration Statement initially became effective, (B) at
the time of each amendment thereto for the purposes of complying with Section 10(a)(3) of the
Act (whether by post-effective amendment, incorporated report or form of prospectus), (C) at
the Effective Time relating to the Securities and (D) on the Closing Date, the Registration
Statement conformed and will conform in all respects to the requirements of the Act, the
Trust Indenture Act and the Rules and Regulations and did not and will not include any untrue
statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein not misleading and (ii) (A) on its date, (B) at
the time of filing the Final Prospectus pursuant to Rule 424(b) and (C) on the Closing Date,
the Final Prospectus will conform in all respects to the requirements of the Act, the Trust
Indenture Act and the Rules and Regulations, and will not include any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary
to make the statements therein not misleading. The preceding sentence does not apply to
statements in or omissions from any such document based upon written information furnished to
the Company by any Underwriter through the Representative specifically for use therein, it
being understood and agreed that the only such information is that described as such in
Section 8(b) hereof.

     (c) (i) (A) At the time of initial filing of the Registration Statement, (B) at the
time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3)
of the Act (whether such amendment was by post-effective amendment, incorporated report filed
pursuant to Section 13 or 15(d) of the Exchange Act or form of prospectus), and (C) at the
time the Company or any person acting on its behalf (within the meaning, for this clause
only, of Rule 163(c)) made any offer relating to the Securities in reliance on the exemption
of Rule 163, the Company was a “well known seasoned issuer” as defined in Rule 405, including
not having been an “ineligible issuer” as defined in Rule 405.

     (ii) The Registration Statement is an “automatic shelf registration
statement,” as defined in Rule 405, that initially became effective within three
years of the date of this agreement.

     (iii) The Company has not received from the Commission any notice pursuant to
Rule 401(g)(2) objecting to use of the automatic shelf registration statement form.
If at any time when Securities remain unsold by the Underwriters the Company
receives from the Commission a notice pursuant to Rule 401(g)(2) or otherwise
ceases to be eligible to use the automatic shelf registration statement form, the
Company will (i) promptly notify the Representative, (ii) promptly file a new
registration statement or post-effective
amendment on the proper form relating to the Securities, in a form
satisfactory to the Representative, (iii) use its best efforts to cause such
registration statement or post-effective amendment to be declared effective as soon
as practicable, and (iv) promptly notify the Representative of such effectiveness.
The Company will take all other action necessary or appropriate to permit the
public offering and sale of the Securities to continue as contemplated in the
registration statement that was the subject of the Rule 401(g)(2) notice or for
which the Company has otherwise become ineligible. References

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herein to the
Registration Statement shall include such new registration statement or
post-effective amendment, as the case may be.

     (iv) Filing Fees. The Company has paid or shall pay the required Commission
filing fees relating to the Securities within the time required by Rule 456(b)(1)
without regard to the proviso therein and otherwise in accordance with Rules 456(b)
and 457(r).

     (d) (i) At the earliest time after the filing of the Registration Statement that the
Company or another offering participant made a bona fide offer (within the meaning of Rule
164(h)(2)) of the Securities and (ii) at the date of this agreement, the Company was not and
is not an “ineligible issuer,” as defined in Rule 405, including (x) the Company or any other
subsidiary in the preceding three years not having been convicted of a felony or misdemeanor
or having been made the subject of a judicial or administrative decree or order as described
in Rule 405 and (y) the Company or any other subsidiary in the preceding three years not
having been the subject of a bankruptcy petition or insolvency or similar proceeding, not
having had a registration statement be the subject of a proceeding under Section 8 of the Act
and not being the subject of a proceeding under Section 8A of the Act in connection with the
offering of the Securities, all as described in Rule 405.

     (e) As of the Applicable Time, neither (i) the General Use Issuer Free Writing
Prospectus(es) issued at or prior to the Applicable Time and the preliminary prospectus,
dated January 29, 2007 (which is the most recent Statutory Prospectus distributed to
investors generally) and the other information, if any, stated in Schedule B to this
Agreement to be included in the General Disclosure Package, all considered together
(collectively, the “General Disclosure Package”), nor (ii) any individual Limited Use Issuer
Free Writing Prospectus, when considered together with the General Disclosure Package,
included any untrue statement of a material fact or omitted to state any material fact
necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading. The preceding sentence does not apply to statements in
or omissions from any Statutory Prospectus or any Issuer Free Writing Prospectus in reliance
upon and in conformity with written information furnished to the Company by any Underwriter
through the Representative specifically for use therein, it being understood and agreed that
the only such information furnished by any Underwriter consists of the information described
as such in Section 8(b) hereof.

     (f) Each Issuer Free Writing Prospectus, as of its issue date and at all subsequent
times through the completion of the public offer and sale of the Securities or until any
earlier date that the Company notified or notifies the Representative as described in the
next sentence, did not, does not and will not include any information that conflicted,
conflicts or will conflict with the information then contained in the Registration Statement.
If at any time following issuance of an Issuer Free Writing Prospectus there occurred or
occurs an event or development as a result of which such Issuer Free Writing Prospectus
conflicted or would conflict with the information then contained in the Registration
Statement or as a result of which such Issuer Free Writing Prospectus, if republished
immediately following such event or development, would include an untrue statement of a
material fact or omitted or would omit to state a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not
misleading, (i) the Company has promptly notified or will promptly notify the Representative
and (ii) the Company has promptly amended or will promptly amend or supplement such Issuer
Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission.

     (g) The Company has been duly incorporated, is validly existing under the laws of
France, with full power and authority (corporate and other) to own and lease its properties
and conduct its business as described in the General Disclosure Package; and the Company is
lawfully qualified to do business in all other jurisdictions in which its ownership or
leasing of property or the conduct of its business requires such qualification, except where
the failure to be so qualified would not individually or in the aggregate have a material
adverse effect on the condition (financial or otherwise), business, prospects or results of
operations of the Company and its subsidiaries taken as a whole (“Material Adverse Effect”).

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     (h) Each subsidiary of the Company set forth on Schedule C hereto has been duly
organized and is validly existing under the laws of the jurisdiction of its organization,
with full power and authority (corporate and other) to own and lease its property and conduct
its business as described in the General Disclosure Package; and each such subsidiary of the
Company is lawfully qualified to do business in all other jurisdictions in which its
ownership or leasing of property or the conduct of its business requires such qualification
except where the failure to be so qualified would not individually or in the aggregate have a
Material Adverse Effect; all of the issued and outstanding capital stock of the Company and
each such subsidiary of the Company has been duly authorized and validly issued under the
laws of the jurisdiction of its incorporation and is fully paid and non-assessable; and
except as shown on Schedule C hereto or as provided in the Company’s $1.140 billion senior
credit agreement and the Company’s planned $200 million French revolving credit facility, the
capital stock of each such subsidiary of the Company is owned, directly or through
subsidiaries, by the Company, free from liens, encumbrances and defects. Schedule C hereto
sets forth a complete list of each subsidiary (excluding dormant or insignificant
subsidiaries) with the relevant jurisdiction of incorporation or organization, the Company’s
direct and indirect ownership thereof and whether such subsidiary is a Guarantor.

     (i) The Company has the power and authority (corporate and other) to enter into each of
the Supplemental Indenture and the New Indenture, the Securities and this Agreement and any
documents entered into in connection therewith, in each case to which it is a party.

     (j) Each Guarantor has the power and authority (corporate and other) to enter into each
of the Supplemental Indenture and the New Indenture, the Guarantees and this Agreement and
any documents entered into in connection therewith, in each case to which it is a party.

     (k) Each of the Indentures has been duly authorized by the Company and by each
Guarantor, the Securities have been duly authorized by the Company, when the Securities are
delivered and paid for pursuant to this Agreement on the Closing Date (as defined below),
each of the Supplemental Indenture and the New Indenture will have been duly executed and
delivered, such Securities will have been duly executed, authenticated, issued and delivered
and will conform to the description thereof contained in the General Disclosure Package, and
(assuming due authorization, execution and delivery by the Trustee) each of the Indentures
and such Securities will constitute valid and legally binding obligations of the Company and
each Guarantor, enforceable in accordance with their terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general
applicability from time to time in effect relating to or affecting creditors’ rights and to
general principles of equity.

     (l) The Original Indenture has been and, as of the Closing Date, the New Indenture will
be duly qualified under the United States Trust Indenture Act of 1939, as amended (the
“TIA”), and each of the Indentures conforms in all material respects to the requirements of
the TIA and the rules and regulations of the Commission applicable to an indenture that is
qualified thereunder.

     (m) Each Guarantee to be endorsed on the Securities by each of the Guarantors has been
duly authorized by such Guarantor and, on the Closing Date, will have been duly executed and
delivered by each such Guarantor and will conform in all material respects to the description
thereof contained in the General Disclosure Package; when the Securities have been
issued, executed and authenticated in accordance with each of the Indentures and delivered to
and paid for by the Underwriters in accordance with the terms of this Agreement, the
Guarantee of each Guarantor endorsed thereon (assuming due authentication of the Securities
by the Trustee) will constitute valid and legally binding obligations of such Guarantor,
enforceable against such Guarantor in accordance with their terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general
applicability from time to time in effect relating to or affecting creditors’ rights and to
general equity principles.

5

 

     (n) Neither the Company nor any of its subsidiaries is a party to any contract,
agreement or understanding with any person that would give rise to a valid claim against the
Underwriters for a brokerage commission, finder’s fee or like payment in connection with the
offer and sale of the Securities, other than the fees payable to the Underwriters in
connection with the offer and sale of the Securities.

     (o) Except as disclosed in the General Disclosure Package, there are no contracts,
agreements or understandings between the Company and any person granting such person the
right to require the Company to file a registration statement under the Act with respect to
any securities of the Company owned or to be owned by such person or to require the Company
to include such securities in the securities registered pursuant to a Registration Statement
or in any securities being registered pursuant to any other registration statement filed by
the Company under the Act (collectively, “registration rights”).

     (p) No consent, approval, authorization, or order of, or filing with, any governmental
agency or body or any court is required for the consummation of the transactions contemplated
by this Agreement or either of the Indentures in connection with the issuance and sale of the
Securities except such as have been or, prior to the Closing Date, will be obtained, and
other than such as may be required under US state securities or “Blue Sky” laws and the
receipt by the Company of an order from the Commission declaring the Registration Statement
effective.

     (q) None of the Company or any subsidiary of the Company is (i) in violation of its
respective articles of association, charter, by-laws or other constitutive documents, (ii) in
default, and no event has occurred which, with notice or lapse of time or both, would
constitute a default, in the due performance or observance of any term, covenant or condition
contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or
instrument to which it is a party or by which it is bound or to which any of its property or
assets is subject except for such default or event which would not, individually or in the
aggregate, have a Material Adverse Effect or (iii) in violation of any law, ordinance,
governmental rule, regulation or court decree to which it or its property assets may be
subject for such default or event which would not, individually or in the aggregate, have a
Material Adverse Effect.

     (r) Except as disclosed in the General Disclosure Package, under current laws and
regulations of France, Luxembourg and the United States (each, a “Relevant Jurisdiction”, and
collectively, the “Relevant Jurisdictions”) and any political subdivisions and taxing
authorities thereof or therein, all interest, principal, premium, if any, and other payments
due or made on the Securities may be paid by the Company to the holders thereof in U.S.
Dollars that may be converted into foreign currency and freely transferred out of each of the
Relevant Jurisdictions and all such payments made to holders thereof who are non-residents of
the Relevant Jurisdictions will not be subject to income, withholding or other taxes under
laws and regulations of any of the Relevant Jurisdictions for tax purposes or any political
subdivision or taxing authority thereof or therein (provided that this clause does not apply
to any tax of whatever nature that may be imposed by a relevant jurisdiction as a result of
Securities being held through a permanent establishment, an agent or a fixed base situated in
such relevant jurisdiction) and any tax that may be imposed by a Relevant Jurisdiction
pursuant to the Directive 2003/48/CE on the taxation of savings income and
without the necessity of obtaining any governmental authorization in any of the Relevant
Jurisdictions or any political subdivision or taxing authority thereof or therein, provided
in the case of the United States that either (i) the payments are made to a “clearing
organization” within the meaning of U.S. Treasury Regulation Section 1.6049-4(c)(1)(ii)(M),
or (ii) the holder has provided the Company or the relevant paying agent with an applicable
Form W-8.

     (s) No capital, transfer, stamp duty, stamp duty reserve or other documentary, issuance
or transfer taxes or duties are payable by or on behalf of the Underwriters in any Relevant
Jurisdiction, or any political sub-division or taxing authority thereof or therein on (i) the
creation, issue or delivery by the Company of the Securities pursuant hereto or the sale
thereof, (ii) the execution of the Supplemental Indenture, the New Indenture, this Agreement
and any documents entered into in connection therewith, or (iii) the consummation of the
transactions contemplated by this Agreement.

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     (t) The execution, delivery and performance of each of the Indentures, the Guarantees,
this Agreement and the issuance and sale of the Securities and compliance with the terms and
provisions hereof and thereof will not result in a breach or violation of any of the terms
and provisions of, or constitute a default under, (i) any statute, rule, regulation or order
of any governmental agency or body or any court, domestic or foreign, having jurisdiction
over the Company or any subsidiary of the Company, or any of their respective properties
except for any such breach or violation which would not, individually or in the aggregate,
have a Material Adverse Effect, or (ii) any agreement or instrument to which the Company or
any such subsidiary is a party or by which the Company or any such subsidiary is bound or to
which any of the properties of the Company or any such subsidiary is subject except for any
such breach or violation which would not, individually or in the aggregate, have a Material
Adverse Effect, or (iii) the charter or by-laws of the Company or any such subsidiary.

     (u) This Agreement has been duly authorized, executed and delivered by the Company and
constitutes valid and legally binding obligations of the Company, enforceable in accordance
with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability from time to time in effect relating to
or affecting creditors’ rights and to general principles of equity and except in connection
with rights to indemnification and contribution thereunder that may be limited by federal or
state securities laws or public policy relating thereto.

     (v) Except as disclosed in the General Disclosure Package, the Company and its
subsidiaries have good and marketable title to all real properties and all other properties
and assets owned by them, in each case free from liens, encumbrances and defects that would
materially affect the value thereof or materially interfere with the use made or to be made
thereof by them; and except as disclosed in the General Disclosure Package, the Company and
its subsidiaries hold any leased real or personal property under valid and enforceable leases
with no exceptions that would materially interfere with the use made or to be made thereof by
them.

     (w) Neither the Company nor any of its subsidiaries has taken any action nor, so far as
the Company is aware, have any steps been taken or legal proceedings been started or
threatened against it or any of its subsidiaries for winding-up, dissolution or
reorganization, or for the appointment of a receiver, administrative receiver, or
administrator, trustee or similar officer of it or any of its subsidiaries or any assets of
it or any of its subsidiaries.

     (x) The Company and its subsidiaries possess adequate certificates, licenses,
authorities or permits issued by appropriate governmental agencies or bodies necessary to
conduct the business now operated by them except where the failure to do so would not,
individually or in the aggregate, have a Material Adverse Effect and have not received any
notice of proceedings relating to the revocation or modification of any such certificate,
authority or permit that, if determined adversely
to the Company or any of its subsidiaries, which would, individually or in the
aggregate, have a Material Adverse Effect.

     (y) No labour dispute with the employees of the Company or any subsidiary of the Company
exists or, to the knowledge of the Company, is imminent that might have a Material Adverse
Effect.

     (z) The Company and its subsidiaries own, possess or can acquire on reasonable terms,
adequate trademarks, trade names and other rights to inventions, know-how, patents,
copyrights, confidential information and other intellectual property (collectively,
“intellectual property rights”) necessary to conduct the business now operated by them, or
presently employed by them, and have not received any notice of infringement of or conflict
with asserted rights of others with respect to any intellectual property rights that, if
determined adversely to the Company or any of its subsidiaries, would individually or in the
aggregate have a Material Adverse Effect.

     (aa) Neither the Company nor any of its subsidiaries (i) is in violation of any statute,
rule, regulation, decision or order of any governmental agency or body or any court, domestic
or foreign, relating to the use, disposal or release of hazardous or toxic substances or
relating to the protection or restoration of the environment or human exposure to hazardous
or toxic substances (collectively,

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“environmental laws”), (ii) owns or operates any real
property contaminated with any substance that is subject to any environmental laws, (iii) is
liable for any off-site disposal or contamination pursuant to any environmental laws or (iv)
is subject to any claim relating to any environmental laws, which violation, contamination,
liability or claim would individually or in the aggregate have a Material Adverse Effect; and
the Company is not aware of any pending investigation which might lead to such a claim.

     (bb) The statements in the General Disclosure Package and the Final Prospectus under the
headings “Risk Factors—We depend on proprietary technology and are exposed to risks
associated with the misappropriation or infringement of that technology.”, “Business of
CGG—Intellectual Property” and “Business of CGG—Legal Proceedings”, insofar as such
statements summarize legal matters, agreements, documents or proceedings discussed therein,
are accurate and fair summaries of such legal matters, agreements, documents or proceedings.

     (cc) A member of the Audit Committee has confirmed to the Chief Executive Officer, Chief
Financial Officer or General Counsel that, except as set forth in the General Disclosure
Package, the Audit Committee is not reviewing or investigating, and neither the Company’s
independent auditors nor its internal auditors have recommended that the Audit Committee
review or investigate, (i) adding to, deleting, changing the application of, or changing the
Company’s disclosure with respect to, any of the Company’s material accounting policies; (ii)
any matter which could result in a restatement of the Company’s financial statements for any
annual or interim period during the current or prior three fiscal years; or (iii) any
Internal Control Event (as described below).

     (dd) Except as described in the General Disclosure Package, there are no pending
actions, suits or proceedings against or affecting the Company, any of its subsidiaries or
any of their respective properties that, if determined adversely to the Company or any of its
subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would
materially and adversely affect the ability of the Company to perform its obligations under
each of the Indentures or this Agreement or which are otherwise material in the context of
the sale of the Securities; and no such actions, suits or proceedings are, to the Company’s
knowledge, threatened or contemplated.

     (ee) The consolidated annual financial statements and the related notes of CGG included
in the Registration Statement and the General Disclosure Package present fairly, in all
material respects, the financial position of CGG and its consolidated subsidiaries as of the
dates shown and
their results of operations and cash flows for the periods shown, and such financial
statements have been prepared in conformity with the accounting principles established by the
International Financial Reporting Standards as adopted by the European Union (“IFRS”),
applied on a consistent basis.

     (ff) The consolidated annual financial statements and consolidated interim financial
statements and the related notes of Veritas DGC Inc. (“Veritas”) included in the Registration
Statement and the General Disclosure Package present fairly, in all material respects, the
financial position of Veritas and its consolidated subsidiaries as of the dates shown and
their results of operations and cash flows for the periods shown, respectively, and such
financial statements have been prepared in conformity with generally accepted accounting
principles in the United States (“U.S. GAAP”), applied on a consistent basis.

     (gg) The consolidated annual financial statements and the related notes of Exploration
Resources included in the Registration Statement and the General Disclosure Package present
fairly, in all material respects, the financial position of Argas and its consolidated
subsidiaries as of the dates shown and their results of operations and cash flows for the
periods shown, respectively, and such financial statements have been prepared in conformity
with U.S. GAAP, applied on a consistent basis.

     (hh) The consolidated annual financial statements and the related notes of Arabian
Geophysical & Surveying Company (“Argas”) included in the Registration Statement and the
General Disclosure Package present fairly, in all material respects, the financial position
of Argas and its consolidated subsidiaries as of the dates shown and their results of
operations and cash flows for the periods shown, respectively, and such financial statements
have been prepared in conformity with US GAAP, applied on a consistent basis.

8

 

     (ii) The reconciliation of CGG’s financial statements referred to in paragraph (jj)
below as reconciled with U.S. GAAP and included in the Registration Statement or incorporated
by reference in the Form 20-F complies with the requirements of Item 18 of Form 20-F.

     (jj) The information set forth in the Registration Statement in Note 30 to the Company’s
consolidated annual financial statements under the heading “Reconciliation from French
Accounting Principles to IFRS,” Note 31 to the Company’s consolidated annual financial
statements under the heading “Reconciliation to U.S. GAAP,” and Note 3 to the Company’s
consolidated interim financial statements under the heading “Reconciliation to U.S. GAAP”
includes a fair summary, in all material respects, of the differences, as they relate to the
Company’s consolidated financial statements, between U.S. GAAP and IFRS, and French GAAP and
IFRS, as applicable.

     (kk) Except as disclosed in the General Disclosure Package, since the date of CGG’s
latest audited financial statements included in the General Disclosure Package, there has
been no material adverse change, nor any development or event involving a prospective
material loss or adverse change, in the condition (financial or other), business, prospects,
properties or results of operations of CGG and its subsidiaries taken as a whole, and, except
as disclosed in or contemplated by the General Disclosure Package, there has been no dividend
or distribution of any kind declared, paid or made by CGG on any class of its capital stock,
nor since the date of CGG’s latest audited financial statements included in the General
Disclosure Package has there been any material loss or interference with the business of CGG
and its subsidiaries from fire, explosion, flood or other calamity, whether or not covered by
insurance, or from any labor dispute or court or governmental action, order or decree,
otherwise than as set forth or contemplated in the General Disclosure Package.

     (ll) Except as disclosed in the General Disclosure Package, since the date of Veritas’s
latest audited financial statements included in the General Disclosure Package, there has
been no material adverse change, nor any development or event involving a prospective
material loss or adverse change, in the condition (financial or other), business, prospects,
properties or results of operations of Veritas and its subsidiaries taken as a whole, and,
except as disclosed in or contemplated by the General Disclosure Package, there has been no
dividend or distribution of any kind declared, paid or made by Veritas on any class of its
capital stock, nor since the date of Veritas’s latest audited financial statements included
in the General Disclosure Package has there been any material loss or interference with the
business of Veritas and its subsidiaries from fire, explosion, flood or other calamity,
whether or not covered by insurance, or from any labor dispute or court or governmental
action, order or decree, otherwise than as set forth or contemplated in the General
Disclosure Package.

     (mm) The Company is subject to the reporting requirements of either Section 13 or
Section 15(d) of the U.S. Securities Exchange Act of 1934 (the “Exchange Act”), and files
reports with the Commission on the Electronic Data Gathering, Analysis, and Retrieval (EDGAR)
system.

     (nn) The Company is not an open-end investment company, unit investment trust or
face-amount certificate company that is or is required to be registered under Section 8 of
the United States Investment Company Act of 1940 (the “Investment Company Act”); and the
Company is not and, after giving effect to the offering and sale of the Securities and the
application of the proceeds thereof as described in the Offering Document, will not be an
“investment company” as defined in the Investment Company Act.

     (oo) Except as described in the General Disclosure Package, neither the Company, nor any
of its subsidiaries is currently or has reason or notice to believe that it will be in the
future a party to, or directly or indirectly concerned in, an agreement, arrangement,
understanding or practice (whether or not legally binding) which may (i) contravene any
treaty, regulation or directive of the European Community relating to competition or
restraint of trade, or any competition or restraint of trade laws of any other jurisdiction,
(ii) be registrable, unenforceable or void or rendering the Company, its

9

 

subsidiaries or any
of their respective officers, directors or employees liable to administrative, civil or
criminal proceedings under any competition legislation, or restraint of trade regulation or
similar legislation, or (iii) be the subject of any investigation by an competent authority
in respect of any provision of any competition legislation, or restraint of trade regulation
or similar legislation in any jurisdiction. Neither the Company nor any of its subsidiaries
is currently, or has reason to believe that it will be, engaged in (whether on its own or
jointly with any other person) any conduct which amounts to the abuse of a dominant position
in a market which may affect competition within the European Union or any part of it.

     (pp) No event of default exists under any contract, indenture, mortgage, loan,
agreement, note, lease or other agreement or instrument constituting “Indebtedness” (as
defined in each of the Indentures) that either singly or in the aggregate could result in or
is capable of resulting in a Material Adverse Effect.

     (qq) The net proceeds of the sale of the Securities will be applied in the manner
described under the “Use of Proceeds” section in the General Disclosure Package.

     (rr) No “nationally recognized statistical rating organization” as such term is defined
for purposes of Rule 436(g)(2) under the Securities Act (i) has imposed (or has informed the
Company or any Guarantor that it is considering imposing) any condition (financial or
otherwise) on the Company’s or any Guarantor’s retaining any rating assigned to the Company
or any Guarantor, any securities of the Company or, (ii) has indicated to the Company that it
is considering (a) the downgrading, suspension, or withdrawal of, or any review for a
possible change that does not indicate the direction of the possible change in, any rating so
assigned or (b) any change in the
outlook for any rating of the Company or any Guarantor or any securities of the Company
or any Guarantor.

     (ss) Application has been made to list the Securities on the Euro MTF Market of the
Luxembourg Stock Exchange.

     (tt) Except as set forth in the General Disclosure Package, the Company is in compliance
in all material respects with Sarbanes-Oxley and all applicable Exchange Rules, in each case
as applicable to “foreign private issuers” as defined in the Exchange Act. The Company and
its subsidiaries maintain a system of internal controls, including, but not limited to,
disclosure controls and procedures, internal controls over accounting matters and financial
reporting, an internal audit function and legal and regulatory compliance controls
(collectively, “Internal Controls”) that comply in all material respects with the applicable
Securities Laws and are sufficient to provide reasonable assurance that (i) transactions are
executed in accordance with management’s general or specific authorizations; (ii)
transactions are recorded as necessary to permit preparation of financial statements in
conformity with U.S. GAAP and/or IFRS, as applicable, and to maintain asset accountability;
(iii) access to assets is permitted only in accordance with management’s general or specific
authorization; and (iv) the recorded accountability for assets is compared with the existing
assets at reasonable intervals and appropriate action is taken with respect to any
differences, except, in each case, with regard to matters set forth in the General Disclosure
Package. Other than as previously disclosed in documents filed or submitted to the Commission
by CGG, Veritas or the Company, none of CGG, Veritas or the Company has publicly disclosed or
reported to its Audit Committee or its Board, and, to the knowledge of the Company, within
the next 90 days, the Company will not publicly disclose or report to the Audit Committee or
the Board, a material weakness, change in Internal Controls or fraud involving management or
other employees who have a significant role in Internal Controls (each, an “Internal Control
Event”), any violation of, or failure to comply with, the Securities Laws, or any matter
which, if determined adversely, would have a Material Adverse Effect.

     (uu) Neither the Company nor any of its subsidiaries, and none of their respective
properties or assets, has any immunity from the jurisdiction of any court or from any legal
process (whether through service or notice, attachment prior to judgment, attachment in aid
of execution, executing or otherwise) under the laws of any jurisdiction in which it has been
incorporated or in which any of its property or assets are held.

10

 

     (vv) To ensure the legality, validity, enforceability and admissibility into evidence of
each of this Agreement, each of the Indentures, the Securities, the Guarantees or any other
document to be furnished hereunder or thereunder in any of the Relevant Jurisdictions, it is
not necessary that any of this Agreement, any of the Indentures, the Securities, the
Guarantees or such other document be filed or recorded with any court or any other authority
in any of the Relevant Jurisdictions or that any stamp or similar tax be paid in the Relevant
Jurisdictions on or in respect of any of this Agreement, the Indentures, the Securities, the
Guarantees or any such other document.

     (ww) The Company (immediately after and giving effect to the issuance of the Securities)
will be Solvent. As used in this paragraph, the term “Solvent” means, with respect to the
Company and to a particular date, that on such date (a) the present value of the Company’s
assets is not less than the Company’s liabilities, each as calculated in accordance with
IFRS; (b) assuming the sale of the Securities as contemplated by this Agreement and the
General Disclosure Package, the Company should be able to pay its respective debts as they
become absolute and mature; and (c) the capital remaining in the Company would not be
unreasonably small for the business in which the Company is engaged after giving due
consideration to the prevailing practice in the industry in which such entity is engaged. In
computing the amount of contingent liabilities at any time, it is intended that such
liabilities will be computed at the amount that, in light of all the facts and
circumstances existing at such time, represents the amount that is likely to become an
actual or matured liability.

     (xx) Except as disclosed in the General Disclosure Package, no subsidiary of the Company
is currently prohibited, directly or indirectly, under any agreement or other instrument to
which it is a party or is subject, from paying any dividends to the Company, from making any
other distribution on shares of such subsidiary’s capital stock, from repaying to the Company
any loans or advances to such subsidiary from the Company or from transferring any of such
subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

     (yy) The Company has not distributed and, prior to the later to occur of (i) the Closing
Date and (ii) the completion of the distribution of the Securities, will not distribute any
material referring to the offering and sale of the Securities other than the General
Disclosure Package or other materials, if any, permitted by the Securities Act and the
Financial Services and Markets Act 2000 (“FSMA”) (or regulations promulgated pursuant to the
Securities Act or FSMA).

     (zz) In connection with the distribution of the Securities, (i) the Company has not
offered or sold, and will not offer or sell, directly or indirectly, any Securities to the
public in France, (ii) offers and sales of Securities in France will be made only to
qualified investors in accordance with Articles L.411-2 and D.411-1 of the French Code
monétaire et financier, and (iii) the Company has not distributed or caused to be distributed
and will not distribute or cause to be distributed in France, the General Disclosure Package
or any other offering material relating to the Securities other than to investors to whom
offers and sales of Securities in France may be made as described above.

     (aaa) Mazars & Guérard and Barbier Frinault & Autres Ernst & Young, who have certified
certain financial statements of the Company and its consolidated subsidiaries for each of the
years ended 31 December 2004 and 31 December 2005, have delivered their reports in respect of
the financial statements of CGG and its consolidated subsidiaries for each such year with
respect to the audited consolidated financial statements and schedules included in the
Registration Statement and the General Disclosure Package, are, and have been in all such
periods for which such financial statements are so included, independent auditors with
respect to CGG as required by French law and the applicable professional rules of the
Compagnie Nationale des Commissaires aux Comptes and are independent registered public
accountants within the meaning of the Securities Act and the applicable rules and regulations
thereunder adopted by the Commission and the Public Company Accounting Oversight Board
(United States).

     (bbb) PricewaterhouseCoopers LLP who have certified certain financial statements of
Veritas for each of the years ended 31 July 2004, 31 July 2005 and 31 July 2006 and have
delivered their reports in respect of the financial statements of Veritas for each such year
with respect to the audited

11

 

consolidated financial statements and schedules included in the
Registration Statement and the General Disclosure Package, are, and have been in all such
periods for which such financial statements are so included, independent auditors with
respect to Veritas within the meaning of the Securities Act and the applicable rules and
regulations thereunder adopted by the Commission and the Public Company Accounting Oversight
Board (United States).

     (ccc) Ernst & Young AS who have certified certain financial statements of Exploration
Resources for the year ended 31 December 2004 have delivered their reports in respect of the
financial statements of Exploration Resources for such year with respect to the audited
consolidated financial statements and schedules included in the Registration Statement and
the General Disclosure Package, are, and have been in all such periods for which such
financial statements are so included, independent auditors with respect to Exploration
Resources within the meaning of the Securities Act and the applicable rules and regulations
thereunder adopted by the Commission and the Public Company Accounting Oversight Board
(United States).

     (ddd) Ernst & Young who have certified certain financial statements of Argas for each of
the years ended 31 December 2003, 31 December 2004 and 31 December 2005 and have delivered
their reports in respect of the financial statements of Argas for each such year with respect
to the audited consolidated financial statements and schedules included in the Registration
Statement and the General Disclosure Package, are, and have been in all such periods for
which such financial statements are so included, independent auditors with respect to Argas
within the meaning of the Securities Act and the applicable rules and regulations thereunder
adopted by the Commission and the Public Company Accounting Oversight Board (United States).

     (eee) Neither the Company nor any of its subsidiaries has taken, directly or indirectly,
any action designed to or that could reasonably be expected to cause or result in any
stabilization or manipulation of the price of the Securities in violation of applicable law.
The Company has not taken any action or omitted to take any action (such as issuing any press
release relating to the Securities without an appropriate legend) which may result in the
loss by any of the Underwriters of the ability to rely on any stabilisation safe harbour
provided under FSMA. The Company has been informed of the guidance relating to stabilisation
provided by the Financial Services Authority, in particular in Section MAR 2 Annex 2G of the
Financial Services Authority Handbook.

     (fff) The statistical, market-related, industry and similar data included or
incorporated by reference in a Registration Statement, a Statutory Prospectus or the General
Disclosure Package are based on or derived from sources that, to the knowledge of the
Company, having made all reasonable inquiry, are reliable and accurate, and the disclosure of
such data in such documents is not misleading in any material respect.

     (ggg) Each of the Company and the Company’s subsidiaries has filed all non-U.S., U.S.
federal, state and local tax returns that are required to be filed, or has requested
extensions thereof (except in any case in which the failure so to file would not have a
Material Adverse Effect) and, except as set forth in the General Disclosure Package, has paid
all taxes required to be paid by it and any other assessment, fine or penalty levied against
it, to the extent that any of the foregoing is due and payable or made adequate reserve of
provision for, except for any such assessment, fine or penalty that is currently being
contested in good faith or as would not have a Material Adverse Effect.

     (hhh) The Company and its subsidiaries are insured by insurers of recognized financial
responsibility against such losses and risks and in such amounts as are prudent and customary
in the businesses in which they are engaged taking into account the Company and its
subsidiaries’ level of risk and the cost of insurance coverage; all policies of insurance and
fidelity or surety bonds insuring the Company or any of its subsidiaries or their respective
businesses, assets, employees, officers and directors are in full force and effect; the
Company and its subsidiaries are in compliance with the terms of such policies and
instruments; there are no claims by the Company or any of its subsidiaries under any such
policy or instrument as to which any insurance company is denying liability or defending
under a reservation of rights clause that will have a Material Adverse Effect on the Company
and its subsidiaries, taken as a whole; none of the Company nor any of its

12

 

subsidiaries has
been refused any insurance coverage sought or applied for; and none of the Company nor any of
its
subsidiaries has any reason to believe as of the date of this Agreement that it will not
be able to renew its existing insurance coverage as and when such coverage expires or to
obtain similar coverage from similar insurers as may be necessary to continue its business at
a cost that would not have a Material Adverse Effect.

     (iii) The Company has the power to submit and, pursuant to this Agreement, has legally,
validly, effectively and irrevocably submitted to the non-exclusive jurisdiction of the
Federal and state courts in the Borough of Manhattan in The City of New York, in connection
with any suit, action or proceeding arising out of or relating to this Agreement, and has the
power to designate,
appoint and empower and, pursuant to this Agreement has legally, validly, effectively
and irrevocably designated, appointed and empowered an agent for service of process in any
suit, action or proceeding, as provided herein.

     (jjj) No forward-looking statement (within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange Act) contained in the General Disclosure Package has been
made or reaffirmed without a reasonable basis or has been disclosed other than as in good
faith.

     (kkk) The operations of the Company and its subsidiaries are and have been conducted at
all times in compliance with applicable financial record keeping and reporting requirements
relating to money laundering applicable to the Company and its subsidiaries and, so far as
the Company is aware, any related or similar statutes, rules, regulations or guidelines,
issued, administered or enforced by any governmental agency (collectively, the “Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental
agency, authority or body or any arbitrator involving the Company or any of its subsidiaries
with respect to the Money Laundering Laws is pending or, to the knowledge of the Company,
threatened, and neither the Company nor any of its subsidiaries nor, to the knowledge of the
Company or any director, officer or employee of the Company or any of its subsidiaries has
(i) used any corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expense relating to political activity, (ii) made any direct or indirect unlawful
payment to any foreign or domestic government official or employee from corporate funds,
(iii) caused the Company or any of its subsidiaries to be in violation of any provision of
the U.S. Foreign Corrupt Practices Act of 1977 or other national or local law regulating
payments to governmental officials or employees; or (iv) made any unlawful payment, except,
in each case, with regard to matters set forth in the General Disclosure Package.

     (lll) Neither the Company, nor any of its subsidiaries nor any of their respective
directors, officers, employees or affiliates, to the best of the Company’s knowledge after
due inquiry, is a person with whom transactions are currently prohibited under any U.S.
sanctions administered by the Office of Foreign Assets Control of the U.S. Department of
Treasury (“OFAC”) or equivalent European Union measure; the Company agrees that it will not
directly or indirectly use the proceeds of the Offering, or lend, contribute or otherwise
make available such proceeds to any person or entity, or any subsidiary, joint venture
partner or sub-division of such other person or entity, for the purpose of financing the
activities of any person with whom transactions are currently prohibited under any U.S.
sanctions administered by OFAC or any equivalent European Union measure.

     (mmm) At September 30, 2006, the Company would have had, on the combined consolidated
pro forma basis indicated in the General Disclosure Package (and any amendment or supplement
thereto), a capitalization as set forth therein. The pro forma financial statements of the
Company included in the General Disclosure Package (and any amendment or supplement thereto)
have been prepared in all material respects in accordance with the accounting requirements of
Article 11 of Regulation S-X of the Commission; the assumptions used in the preparation of
such pro forma financial statements are, in the opinion of the management of the Company,
reasonable; and the pro forma adjustments reflected in such pro forma financial statements
have been properly applied to the historical amounts in compilation of such pro forma
financial statements. The financial statements are those required to be included and comply
as to form with the applicable accounting requirements of the Securities Exchange Act of
1934, as amended, and the related rules and regulations adopted by the SEC.

13

 

     3. Purchase, Sale and Delivery of Securities. On the basis of the representations, warranties
and agreements herein set forth, but subject to the terms and conditions herein contained, the
Company agrees to sell to the several Underwriters, and the several Underwriters agree, severally
and not jointly, to purchase from the Company (i) the Additional Notes, at a purchase price of
100.00% of the principal amount thereof plus accrued interest (if any) from November 15, 2006 to
the Closing Date (as hereinafter
defined), and (ii) the New Notes, at a purchase price of 100.00% of the principal amount
thereof plus accrued interest (if any) from the issue date of the New Notes to the Closing Date, as
set forth opposite their names in Schedule A hereto.

The Company will deliver the Securities to or as instructed by the Representative for the
accounts of the several Underwriters in a form reasonably acceptable to the Representative
against payment of the purchase price by the Underwriters in (same day) funds by wire
transfer to an account at a bank acceptable to the Representative at the office of Cravath,
Swaine & Moore LLP, London , at 9:00 A.M., London time, on February 9, 2007, such time being
herein referred to as the “Closing Date”. Accordingly, the parties hereto acknowledge that
the delivery of the Notes will be made against payment therefor on the fifth business day
following the date of pricing of the Notes. For purposes of Rule 15c6-1 under the Securities
Exchange Act of 1934, the Closing Date (if later than the otherwise applicable settlement
date) shall be the settlement date for payment of funds and delivery of securities for all
the Securities sold pursuant to the offering. The Securities so to be delivered or evidence
of their issuance will be made available for checking at the office of Cravath, Swaine &
Moore LLP, London at least 24 hours prior to the Closing Date.

     In consideration of the agreement by the Underwriters to severally subscribe and pay for the
Securities as aforesaid, the Company shall pay to the Underwriters a combined management,
underwriting and selling commission of 1.75% of the principal amount of the Securities plus VAT (if
applicable). The Underwriters shall be entitled to deduct the said commission from the purchase
price by way of set-off.

     CS (the “Stabilising Agent”), on behalf of the Underwriters, may, to the extent permitted by
applicable law, over-allot and effect transactions in any over-the-counter market or otherwise, in
connection with the distribution of the Securities, with a view to stabilising or maintaining the
market price of the Securities at levels other than those which might prevail in the open market
but in doing so the Stabilising Agent shall act as principal and not as agent of the Company and
any loss resulting from over-allotment or stabilisation shall be borne, and any profit arising
therefrom shall be beneficially retained, by the Stabilising Agent. Nothing in this fifth
paragraph of Section 3 shall be construed so as to require the Company to issue in excess of
U.S.$600,000,000 million principal amount of Securities.

     As between the Company and the Underwriters, any loss resulting from stabilisation shall be
borne, and any profit arising therefrom shall be retained, by the Underwriters as set out in the
Agreement Among Underwriters.

     4. Offering by Underwriters. It is understood that the several Underwriters propose to offer
the Securities for sale to the public in the United States as set forth in the Final Prospectus. CS
will make offers and sales to the public in the United States through Credit Suisse Securities
(USA) LLC, which is acting as selling agent for CS.

     (a) Each Underwriter severally agrees that it and each of its affiliates has not entered
and will not enter into any contractual arrangement with respect to the distribution of the
Securities except for any such arrangements with other Underwriters or affiliates of the
other Underwriters or with the prior written consent of the Company.

     (b) Each Underwriter severally represents, warrants and agrees that (i) it has only
communicated or caused to be communicated and will only communicate or cause to be
communicated any invitation or inducement to engage in investment activity (within the
meaning of section 21 of FSMA) received by it in connection with the issue or sale of any
Securities in circumstances in which section 21(1) of FSMA does not apply to the Company or
the Guarantors; and (ii) it has complied and will comply with all applicable provisions of
FSMA with respect to anything done by it in relation to the Securities in, from or otherwise
involving the United Kingdom.

14

 

     (c) In relation to each Member State of the European Economic Area which has implemented
the Prospectus Directive (each, a “Relevant Member State”), each Underwriter represents,
warrants and agrees that with effect from and including the date on which the Prospectus
Directive is implemented in that Relevant Member State (the “Relevant Implementation Date”)
it has not made and will not make an offer of Securities to the public in that Relevant
Member State prior to the publication of a prospectus in relation to the securities which has
been approved by the competent authority in that Relevant Member State or, where appropriate,
approved in another Relevant Member State and notified to the competent authority in that
Relevant Member State, all in accordance with the Prospectus Directive, except that it may,
with effect from and including the Relevant Implementation Date, make an offer of Securities
to the public in that Relevant Member State at any time:

	 	(i)	 	to legal entities which are authorised or regulated to operate in the
financial markets or, if not so authorised or regulated, whose corporate purpose is
solely to invest in securities;
	 
	 	(ii)	 	to any legal entity which has two or more of (1) an average of at least 250
employees during the last financial year; (2) a total balance sheet of more than
EUR43,000,000 and (3) an annual net turnover of more than EUR50,000,000, as shown in
its last annual or consolidated accounts;
	 
	 	(iii)	 	to fewer than 100 natural or legal persons (other than qualified investors
as defined in the Prospectus Directive) subject to obtaining the prior consent of CS
for any such offer; or
	 
	 	(iv)	 	in any other circumstances which do not require the publication by the
Company of a prospectus pursuant to Article 3 of the Prospectus Directive.

For the purposes of this provision, the expression an “offer of Securities to the public” in
relation to any securities in any Relevant Member State means the communication in any form
and by any means of sufficient information on the terms of the offer and the securities to be
offered so as to enable an investor to decide to purchase the securities, as the same may be
varied in that Member State by any measure implementing the Prospectus Directive in that
Member State and the expression “Prospectus Directive” means Directive 2003/71/EC and
includes any relevant implementing measure in each Relevant Member State.

     (d) Each Underwriter severally represents and agrees that it has complied and will
comply in all material respects with all applicable laws and regulations in each jurisdiction
in which it offers and distributes any offering materials relating to the offering or offers
or sells the Notes.

     5. Certain Agreements of the Company. The Company agrees with the several Underwriters that:

     (a) The Company has filed or will file each Statutory Prospectus (including the Final
Prospectus) pursuant to and in accordance with Rule 424(b)(2) (or, if applicable and
consented to by the Representative, subparagraph (5)) not later than the second business day
following the earlier of the date it is first used or the execution and delivery of this
Agreement. The Company has complied and will comply with Rule 433.

     (b) The Company will promptly advise the Representative of any proposal to amend or
supplement the Registration Statement or any Statutory Prospectus at any time and will offer
the Representative a reasonable opportunity to comment on any such amendment or supplement;
and the Company will also advise the Representative promptly of (i) the filing of any such
amendment or supplement, (ii) any request by the Commission or its staff for any amendment to
the Registration Statement, for any supplement to any Statutory Prospectus or for any
additional information, (iii) the institution by the Commission of any stop order proceedings
in respect of the Registration Statement or the threatening of any proceeding for that
purpose, and (iv) the receipt by the Company of any notification with respect to the
suspension of the qualification of the Securities in any jurisdiction or the institution or
threatening of any proceedings for such purpose. The Company will use its

15

 

reasonable best
efforts to prevent the issuance of any such stop order or the
suspension of any such qualification and, if issued, to obtain as soon as possible the
withdrawal thereof.

     (c) If, at any time when a prospectus relating to the Securities is (or but for the
exemption in Rule 172 would be) required to be delivered under the Act by any Underwriter or
dealer, any event occurs as a result of which the Final Prospectus as then amended or
supplemented would include an untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, or if it is necessary at any time to amend the
Registration Statement or supplement the Final Prospectus to comply with the Act, the Company
will promptly notify the Representative of such event and will promptly prepare and file with
the Commission and furnish, at its own expense, to the Underwriters and the dealers and any
other dealers upon request of the Representative, an amendment or supplement which will
correct such statement or omission or an amendment which will effect such compliance. The
Company will advise the Underwriters promptly of any proposal to amend or supplement the
Registration Statement or supplement the Final Prospectus and will not effect such amendment
or supplementation without the Underwriters’ consent. Neither the Representative’s consent
to, nor the Underwriters’ delivery of, any such amendment or supplement shall constitute a
waiver of any of the conditions set forth in Section 7 hereof.

     (d) As soon as practicable, but not later than June 30, 2008, the Company will make
generally available to its securityholders an earnings statement covering a period of at
least 12 months beginning after the date of this Agreement and satisfying the provisions of
Section 11(a) of the Act and Rule 158.

     (e) The Company will furnish to the Representative copies of the Registration Statement,
including all exhibits, any Statutory Prospectus, the Final Prospectus and all amendments and
supplements to such documents, in each case as soon as available and in such quantities as
the Representative reasonably requests. The Company will pay the expenses of printing and
distributing to the Underwriters all such documents.

     (f) The Company will arrange for the qualification of the Securities for sale and the
determination of their eligibility for investment under the laws of such
jurisdictions as the Representative reasonably designates and will continue such
qualifications in effect so long as required for the distribution provided that the Company
will not be required to qualify as a foreign corporation or to file a general consent to
service of process in any such jurisdiction.

     (g) The Company agrees to pay all expenses (together with VAT, where applicable)
incidental to the performance of its obligations under this Agreement and each of the
Indentures, including, subject to receipt of sufficiently itemized accounts (i) the fees,
disbursements and expenses of the Company’s legal advisors; (ii) the fees, disbursements and
expenses of the Company’s accountants; (iii) the fees, disbursements and expenses of the
Underwriters’ legal advisors, Cravath, Swaine & Moore LLP, Bernard Hertz Bejot and Bredin
Prat; (iv) the fees and expenses of the Trustee or any paying agent and their respective
professional advisors; (v) all expenses in connection with the execution, issue,
authentication, packaging and initial delivery of the Securities, the preparation and
printing of this Agreement, the Securities, the Supplemental Indenture and the New Indenture,
the Preliminary Prospectus and the Final Prospectus and amendments and supplements thereto,
and any other document relating to the issuance, offer, sale and delivery of the Securities;
(vi) the cost of listing the Securities and qualifying the Securities for trading on the Euro
MTF Market of the Luxembourg Stock Exchange and any expenses incidental thereto, including
those of the Luxembourg listing agent; (vii) the cost of any advertising approved by the
Company in connection with the issue of the Securities; (viii) any filing fees and other
expenses (including fees and disbursements of counsel) incurred in connection with
qualification of the Securities for sale under the laws of such jurisdictions in Europe, the
United States and Canada as the Underwriters
designate and the printing of memoranda relating thereto, costs and expenses related to
the review by the National Association of Securities Deals Inc. of the Securities; (ix) any
fees charged by investment rating agencies for the rating of the Securities; and (x) expenses
incurred in distributing the Preliminary Prospectus and the Final Prospectus (including any
amendments and supplements thereto) to the Underwriters and expenses incurred for preparing,

16

 

printing and distributing any Issuer Free Writing Prospectuses to investors or prospective
investors. The Company agrees to pay or reimburse the Underwriters (to the extent incurred by
them) for all reasonable travel expenses of the Underwriters and the Company’s officers and
employees and any other reasonable expenses of the Underwriters and the Company in connection
with attending or hosting meetings with prospective Underwriters of the Securities from the
Underwriters. If the sale of the Securities provided for herein is not consummated because
any condition to the obligations of the Underwriters set forth in Section 7 hereof is not
satisfied, because this Agreement is terminated or because of any failure, refusal or
inability on the part of the Company to perform all obligations and satisfy all conditions on
their part to be performed or satisfied hereunder (other than solely by reason of a default
by an Underwriter on its obligations hereunder after all conditions hereunder have been
satisfied in accordance herewith), the Company agrees to promptly reimburse the Underwriters
upon demand for all reasonable out-of-pocket expenses (including reasonable fees,
disbursements and charges of Cravath, Swaine & Moore LLP, Bernard Hertz Bejot and Bredin
Prat, the Underwriters’ legal advisors) that shall have been incurred by the Underwriters in
connection with the proposed purchase and sale of the Securities. The Company shall not be
liable to the Underwriters for loss of contemplated profits from the transactions covered by
this Agreement. Other than as set forth in this Section 5(h) each of the parties hereto
shall bear all out-of-pocket costs and expenses incurred by them. In addition to the
foregoing, the Company will also pay the expenses of the Qualified Independent Underwriter.

     (h) In connection with the offering, until the Underwriters shall have notified the
Company of the completion of the resale of the Securities, neither the Company nor any of its
affiliates has or will, either alone or with one or more other persons, bid for or purchase
for any account in which it or any of its affiliates has a beneficial interest any Securities
or attempt to induce any person to purchase any Securities; and neither they nor any of their
affiliates will make bids or purchases for the purpose of creating actual, or apparent,
active trading in, or of raising the price of, the Securities.

     (i) After the date of the initial offering of the Securities by the Underwriters and
until the day which is 90 days after the Closing Date, the Company will not offer, sell,
contract to sell, pledge or otherwise dispose of, directly or indirectly, or file with the
Commission a registration statement under the Securities Act relating to, any debt securities
issued or guaranteed by the Company and having a maturity of more than one year from the date
of issue, or any options or derivatives in respect of such debt securities, or publicly
disclose the intention to make any such offer, sale, pledge, disposition or filing, without
the prior written consent of the Representative; provided that this provision shall not
prohibit borrowings under the credit facilities existing on the date hereof or secured
financings of accounts receivables and inventory.

     (j) The Company will indemnify and hold harmless the Underwriters against any
documentary, stamp or similar issuance tax that may be imposed by the United States,
Luxembourg, the United Kingdom or the Republic of France, including any interest and
penalties, that may be payable by the Underwriters on the creation, issuance and sale of the
Securities and on the execution and delivery of this Agreement. All payments to be made by
the Company hereunder shall be made without withholding or deduction for or on account of any
present or future taxes, duties or governmental charges whatsoever unless the Company is
compelled by law to deduct or withhold such taxes, duties or charges. In that event, the
Company shall pay such additional amounts as may be necessary in order that the net amounts
received after such withholding or deduction shall equal the amounts that would have been
received if no withholding or deduction had been made. If such withholding or deduction of
tax is due, the Underwriters and the Company
shall promptly co-operate in completing any procedural formalities necessary for the
Company to avoid such withholding or deduction of tax. The Company will not be required to
pay such additional amounts to a Underwriter if the Company is able to demonstrate that the
payment of additional amounts could have been made to the Underwriter without a withholding
or deduction of tax had that Underwriter complied with its obligations to cooperate with the
Company.

     (k) The Company will use its reasonable best efforts to have the Securities admitted to
trading on the Euro MTF Market of the Luxembourg Stock Exchange and will maintain such
listing as long as

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the Securities are outstanding; provided, however, that if the Company can
no longer maintain such listing, the Company will use all reasonable commercial efforts to
obtain and maintain the listing of the Securities on another recognized stock exchange.

     (l) The Company shall take all reasonable action necessary to enable Standard & Poor’s
Ratings Services, a division of the McGraw Hill, Inc. (“S&P”), and Moody’s Investors Service
Inc. (“Moody’s”) to provide and/or confirm their respective credit ratings of the Securities.

     (m) The Company will cooperate with the Underwriters and use its reasonable best
endeavours to permit the Securities to be eligible for clearance and settlement through DTC,
including preparation and filing with DTC of a Letter of Representations signed by the
Company.

     (n) The Company undertakes that, since the provisions of the EU Directive 2003/48/EC
dated 3 June 2003 have been implemented with effect from July 1, 2005, it will use its best
endeavours to ensure that the Company maintains a paying agent in a European Union member
state that will not be obligated to withhold or deduct tax pursuant to such European Union
Directive on the taxation of savings income.

     (o) The Company will use its reasonable best endeavours to do and perform all things
required or necessary to be done and performed under this Agreement by it prior to the
Closing Date and to satisfy all conditions precedent to the delivery of the Securities.

     6. Free Writing Prospectuses

     (a) The Company represents and agrees that, unless it obtains the prior consent of the
Representative, and each Underwriter represents and agrees that, unless it obtains the prior
consent of the Company and the Representative, it has not made and will not make any offer
relating to the Securities that would constitute an Issuer Free Writing Prospectus, or that
would otherwise constitute a “free writing prospectus,” as defined in Rule 405,
required to be filed with the Commission. Any such free writing prospectus consented to by
the Company and the Representative is hereinafter referred to as a “Permitted Free Writing
Prospectus.” The Company represents that it has treated and agrees that it will treat each
Permitted Free Writing Prospectus as an “issuer free writing prospectus,” as defined in Rule
433, and has complied and will comply with the requirements of Rules 164 and 433
applicable to any Permitted Free Writing Prospectus, including timely Commission filing where
required, legending and record keeping.

     (b) The Company will prepare a final term sheet relating to the Securities, containing
only information that describes the final terms of the Securities and otherwise in a form
consented to by the Representative, and will file such final term sheet within the period
required by Rule 433(d)(5)(ii) following the date such final terms have been established for
all classes of the offering of the Securities. Any such final term sheet is an Issuer Free
Writing Prospectus and a Permitted Free Writing Prospectus for purposes of this Agreement.
The Company also consents to the use by any Underwriter of a free writing prospectus that
contains only (i)(x) information describing the preliminary terms of the Securities or their
offering or (y) information that describes the final terms of the Securities or their
offering and that is included in the final term sheet of the Company contemplated in the
first sentence of this subsection or (ii) other information that is not “issuer
information,” as defined in Rule 433, it being understood that any such free writing
prospectus referred to in clause (i) or (ii) above shall not be an Issuer Free Writing
Prospectus for purposes of this Agreement.

     7. Conditions of the Obligations of the Underwriters. The obligations of the Underwriters to
purchase and pay for the Securities will be subject to the accuracy of the representations and
warranties on the part of the Company, to the accuracy of the statements of officers of the Company
made pursuant to the provisions hereof, to the performance by the Company of their obligations
hereunder, in each case, in all material respects, and to the following conditions precedent:

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     (a) The Underwriters shall have received a comfort letter or letters, dated the date of
this Agreement, of Mazars & Guérard and Barbier Frinault & Autres Ernst & Young, in form and
substance satisfactory to the Underwriters concerning the financial information with respect
to CGG set forth in the General Disclosure Package.

     (b) The Underwriters shall have received a comfort letter or letters, dated the date of
this Agreement, of PricewaterhouseCoopers LLP, in form and substance satisfactory to the
Underwriters concerning the financial information with respect to Veritas set forth in the
General Disclosure Package.

     (c) The Underwriters shall have received a comfort letter or letters, dated the date of
this Agreement, of Ernst & Young AS in form and substance satisfactory to the Underwriters
concerning the financial information with respect to Exploration Resources set forth in the
General Disclosure Package.

     (d) The Underwriters shall have received a comfort letter or letters, dated the date of
this Agreement, of Ernst & Young in form and substance satisfactory to the Underwriters
concerning the financial information with respect to Argas set forth in the General
Disclosure Package.

     (e) The Final Prospectus shall have been filed with the Commission in accordance with
the Rules and Regulations and Section 5(a) hereof. No stop order suspending the effectiveness
of the Registration Statement or of any part thereof shall have been issued and no
proceedings for that purpose shall have been instituted or, to the knowledge of the Company
or any Underwriter, shall be contemplated by the Commission.

     (f) Subsequent to the execution and delivery of this Agreement, there shall not have
occurred (i) any change, or any development or event involving a prospective change, in the
condition (financial or other), business, properties or results of operations of the Company
and its subsidiaries taken as one enterprise which, in the judgment of the Underwriters, is
material and adverse and makes it impractical or inadvisable to proceed with completion of
the offering or the sale of and payment for the Securities; (ii) any downgrading in the
rating of any debt securities of the Company by any “nationally recognized statistical rating
organization” (as defined for purposes of Rule 436(g) under the Securities Act), or any
public announcement or any indication given to the Company that any such organization has
under surveillance or review its rating of any debt securities of the Company (other than an
announcement with positive implications of a possible upgrading, and no implication of a
possible downgrading, of such rating) or any announcement that the Company has been placed on
negative outlook; (iii) any change in U.S., French, international, financial, political or
economic conditions or currency exchange rates or exchange controls as would, in the judgment
of the Underwriters, be likely to prejudice materially the success of the proposed issue,
sale or distribution of the Securities, whether in the primary market or in respect of
dealings in the secondary market; (iv) any material suspension or material limitation of
trading in securities generally on the New York Stock Exchange, the Luxembourg Stock Exchange
or the Eurolist by Euronext Paris or any setting of minimum prices for trading on any such
exchange, or any suspension of trading of any securities of the Company on any exchange or in
the
over-the-counter market; (v) any banking moratorium declared by U.S. Federal, New York,
European Union, English or French authorities; (vi) any major disruption of settlements of
securities or clearance services in the United States, the European Union, the United Kingdom
or France; (vii) any attack on, outbreak or escalation of hostilities, declaration of war or
act of terrorism involving the United States, the European Union, the United Kingdom or
France, or any other national or international calamity or emergency if, in the judgment of
the Underwriters, the effect of any such attack, outbreak, escalation, act, declaration,
calamity or emergency makes it impractical or inadvisable to proceed with completion of the
offering or sale of and payment for the Securities.

     (g) The Underwriters shall have received an opinion, dated the Closing Date, of
Linklaters, U.S. and French counsel for the Company, covering substantially the items set
forth in Exhibit A hereto. The Company shall have furnished to such counsel such documents
as they request for the purpose of enabling them to pass upon such matters.

19

 

     (h) The Underwriters shall have received opinions, dated the Closing Date, from local
counsel for the Company, from local counsel in each of the countries of incorporation of the
Guarantors with respect to the valid existence, power and authority, due authorization of the
Guarantors and other related matters as the Underwriters may require, in each case
satisfactory to the Underwriters. The Company shall have furnished to such counsel such
documents as they request for the purpose of enabling them to pass upon such matters.

     (i) The Underwriters shall have received from Cravath, Swaine & Moore LLP, U.S. counsel
for the Underwriter, such opinion or opinions, dated the Closing Date, with respect to the
validity of the Securities, the Preliminary and Final Prospectus and other related matters as
the Underwriters may require, in each case satisfactory to the Underwriters. The Company
shall have furnished to such counsel such documents as they request for the purpose of
enabling them to pass upon such matters.

     (j) The Underwriters shall have received certificates, dated the Closing Date, of the
principal executive officer and the principal financial or accounting officer of the Company,
in which such officers shall state that the representations and warranties of the Company in
this Agreement are true and correct, certify as to the outstanding Net debt and Shareholders’
equity (as such terms are described in the General Disclosure Package) as of a date that is
reasonably acceptable to the Underwriters, that the Company has complied with all agreements
and satisfied all conditions on its part to be performed or satisfied hereunder at or prior
to the Closing Date no stop order suspending the effectiveness of the Registration Statement
has been issued and no proceedings for that purpose have been instituted or, to the best of
their knowledge and after reasonable investigation, are contemplated by the Commission; and,
subsequent to the respective dates of the most recent financial statements in the General
Disclosure Package, there has been no material adverse change, nor any development or event
involving a prospective material adverse change, in the condition (financial or other),
business, prospects, properties or results of operations of the Company and its subsidiaries
taken as a whole except as set forth in the General Disclosure Package.

     (k) The Underwriters shall have received a comfort letter or letters, dated the Closing
Date, of Mazars & Guérard and Barbier Frinault & Autres Ernst & Young which meets the
requirements of subsection (a) of this Section.

     (l) The Underwriters shall have received a comfort letter or letters, dated the Closing
Date, of PricewaterhouseCoopers LLP which meets the requirements of subsection (b) of this
Section.

     (m) The Underwriters shall have received a comfort letter or letters, dated the Closing
Date of Ernst & Young AS which meets the requirements of subsection (c) of this Section.

     (n) The Underwriters shall have received a comfort letter or letters, dated the Closing
Date of Ernst & Young which meets the requirements of subsection (d) of this Section.

     (o) At the Closing Date, the Securities shall have been cleared for settlement at DTC.

     (p) At the Closing Date, application shall have been made to list the Securities on the
Euro MTF Market of the Luxembourg Stock Exchange, and such application shall not have been
withdrawn or rejected or shall have been approved for listing subject to official notice of
issuance.

     (q) At the Closing Date, the Securities shall be rated at least Ba3 by S&P and B+ by
Moody’s, and the Company shall have delivered to the Underwriters a letter dated the Closing
Date, from each such rating agency, or other evidence satisfactory to the Underwriters,
confirming that the Securities have such ratings.

     (r) As of the Closing Date, the Company, the Guarantors and the Trustee shall have
entered into each of the New Indenture and Supplemental Indenture.

20

 

     (s) The Company and its subsidiaries shall have (i) received on or prior to the Closing
Date all consents, approvals, authorisations and other orders of, or qualifications with,
each court, regulatory authority, governmental body or agency, or third party, and (ii) given
all notices required under relevant law and any material agreements, in each case, required
to execute, deliver and perform their respective obligations under each of the Indentures,
the Securities, the Guarantees and this Agreement, except, in each case, such as may be
required under state securities laws.

     The Company will furnish the Underwriters with such copies of such conformed copies of such
opinions, certificates, letters and documents as the Underwriters reasonably request. The
Underwriters may in their sole discretion waive compliance with any conditions to the obligations
of the Underwriters hereunder.

     8. Indemnification and Contribution.

     (a) The Company undertakes to each Underwriter that it will indemnify and hold harmless
each such Underwriter, its partners, directors and officers and each person, if any, who
controls each Underwriter within the meaning of Section 15 of the Securities Act or Section
20 of the Exchange Act (each, a “Relevant Party”), against any losses, claims, damages or
liabilities, joint or several, to which such Relevant Party may become subject, under the
Securities Act or the Exchange Act or otherwise (each, a “Loss”), insofar as such Loss (or
any action in respect thereof) arises out of or is based upon any untrue statement or alleged
untrue statement of any material fact contained in the Registration Statement at any time,
any Statutory Prospectus as of any time, the Final Prospectus or any Issuer Free Writing
Prospectus, or arise out of or are based upon the omission or alleged omission to state
therein a material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading, including any Loss (or any
action in respect thereof) arising out of or based upon the Company’s failure to perform its
obligations under Section 5(c) of this Agreement, and the Company shall pay to such Relevant
Party on demand an amount equal to such Loss. No Relevant Party shall have any duty or
obligation, whether as fiduciary or trustee for any Relevant Party or otherwise, to recover
any such payment or to account to any other person for any amounts paid to it under this
Section 8. The Company will reimburse each Relevant Party for any legal or other expenses
incurred by such Relevant Party in connection with investigating or defending any such Loss
(or action in respect thereof) upon demand as such expenses are incurred; provided, however,
that the Company will not be liable in any such case to the extent that any such Loss (or any
action in respect thereof) arises out of or is based upon an untrue statement or alleged
untrue statement in or omission or alleged omission from any of such documents in reliance
upon and in conformity with written
information furnished to the Company made by the Underwriters through the Representative
specifically for use therein, it being understood and agreed that the only such information
consists of the information described as such in subsection (b) below.

     (b) Each Underwriter will severally and not jointly indemnify and hold harmless the
Company and its directors and officers who sign a Registration Statement and each person, if
any, who controls the Company within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act against any losses, claims, damages or liabilities to which
the Company may become subject, under the Securities Act or the Exchange Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise
out of or are based upon any untrue statement or alleged untrue statement of any material
fact contained in the Registration Statement at any time, any Statutory Prospectus as of any
time, the Final Prospectus, or any Issuer Free Writing Prospectus, or arise out of or are
based upon the omission or the alleged omission to state therein a material fact necessary in
order to make the statements therein, in the light of the circumstances under which they were
made, not misleading, in each case to the extent, but only to the extent, that such untrue
statement or alleged untrue statement or omission or alleged omission was made in reliance
upon and in conformity with written information furnished to the Company by the Underwriters
through the Representative specifically for use therein, and will reimburse any legal or
other expenses reasonably incurred by the Company in connection with investigating or
defending any such loss, claim, damage, liability or action as such expenses are incurred, it
being understood and agreed that the only such information consists of the following
information in the Final Prospectus furnished on behalf of the Underwriters through the
Representative: the table entitled “Underwriters” under the caption “Underwriting” and

21

 

the
third paragraph thereafter under the caption “Underwriting”; provided, however, that the
Underwriters shall not be liable for any losses, claims, damages or liabilities arising out
of or based upon the Company’s failure to perform its obligations under Section 5(c) of this
Agreement.

     (c) Promptly after receipt by an indemnified party under this Section or Section 10 of
notice of the commencement of any action, such indemnified party will, if a claim in respect
thereof is to be made against the indemnifying party under subsection (a) or (b) above or
Section 10, notify the indemnifying party in writing of the commencement thereof; but the
failure to notify the indemnifying party shall not relieve it from any liability that it may
have under subsection (a) or (b) above or Section 10 except to the extent that it has been
materially prejudiced (through the forfeiture of substantive rights or defences) by such
failure; and provided further that the failure to notify the indemnifying party shall not
relieve it from any liability that it may have to an indemnified party otherwise than under
subsection (a) or (b) above or Section 10. In case any such action is brought against any
indemnified party, the indemnifying party will be entitled to participate therein and, to the
extent that it may wish, jointly with any other indemnifying party similarly notified, to
assume the defence thereof, with counsel reasonably satisfactory to such indemnified party
(who shall not, except with the consent of the indemnified party, be counsel to the
indemnifying party), and after notice from the indemnifying party to such indemnified party
of its election so to assume the defence thereof, the indemnifying party will not be liable
to such indemnified party under this section or Section 10, as the case may be, for any legal
or other expenses subsequently incurred by such indemnified party in connection with the
defence thereof other than reasonable costs of investigation; provided, however, that the
indemnifying party shall only be obligated to pay the fees, disbursements and other charges
of one counsel (and one additional local counsel for each applicable jurisdiction) to the
indemnified parties in connection with any single matter, unless an indemnified party has a
legal position that differs from the other indemnified parties or may be subject to different
claims and defences than the other indemnified parties, in which case the indemnifying party
shall be obligated to pay the fees, disbursements and other charges of one additional counsel
for such indemnified party. No indemnifying party shall, without the prior written consent
of the indemnified party, effect any settlement of any pending or threatened action in
respect of which any indemnified party is or could have been a party and indemnity could have
been sought hereunder by such indemnified party unless such settlement
includes (i) an unconditional release of such indemnified party from all liability on
any claims that are the subject matter of such action and (ii) does not include a statement
as to, or an admission of fault, culpability or failure to act by or on behalf of any
indemnified party.

     (d) If the indemnification provided for in this Section is unavailable or insufficient
to hold harmless an indemnified party under subsection (a) or (b) above, then each
indemnifying party shall contribute the amount paid or payable by such indemnified party as a
result of the losses, claims, damages or liabilities referred to in subsection (a) or (b)
above (i) in such proportion as is appropriate to reflect the relative benefits received by
the Company on the one hand and the Underwriters on the other from the offering of the
Securities or (ii) if the allocation provided by clause (i) above is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) above but also the relative fault of the Company on the
one hand and the Underwriters on the other in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities as well as any other relevant
equitable considerations. The relative benefits received by the Company on the one hand and
the Underwriters on the other shall be deemed to be in the same proportion as the total net
proceeds from the offering (before deducting expenses) received by the Company bear to the
total discounts and commissions received by the Underwriters from the Company under this
Agreement. The relative benefits received by the Independent Underwriter in its capacity as
“qualified independent underwriter” (within the meaning of NASD conduct Rule 2720) shall be
deemed to be equal to the compensation, if any, received by the Independent Underwriter for
acting in such capacity.The relative fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the Company or
the Underwriters and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such untrue statement or omission. The amount paid by an
indemnified party as a result of the losses, claims, damages or liabilities referred to in
the first sentence of this subsection (d)

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shall be deemed to include any legal or other
expenses reasonably incurred by such indemnified party in connection with investigating or
defending any action or claim which is the subject of this subsection (d). Notwithstanding
the provisions of this subsection (d), no Underwriter shall be required to contribute any
amount in excess of the amount by which the total price at which the Securities underwritten
by it were offered exceeds the amount of any damages which the Underwriter has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission and the Independent Underwriter, in its capacity as “qualified independent
underwriter” (within the meaning of NASD Conduct Rule 2720), shall in no event be required to
contribute any amount in excess of the amount of the compensation, if any, received by the
Independent Underwriter for acting in such capacity exceeds the amount of any damage which
the Independent Underwriter has otherwise been required to pay by reason of the Independent
Underwriter’s acting in such capacity in connection with the offering contemplated by this
Agreement. The Underwriters’ obligations in this subsection (d) to contribute are several in
proportion to their respective purchase obligations and not joint.

     (e) The obligations of the Company under this Section shall be in addition to any
liability which the Company may otherwise have and shall extend, upon the same terms and
conditions, to each person, if any, who controls any of the Underwriters within the meaning
of the Securities Act or the Exchange Act; and the obligations of the Underwriters under this
Section shall be in addition to any liability which the respective Underwriters may otherwise
have and shall extend, upon the same terms and conditions, to each person, if any, who
controls the Company within the meaning of the Securities Act or the Exchange Act.

     9. Default of Underwriters. If any Underwriter or Underwriters default in their obligations
to purchase Securities hereunder and the aggregate principal amount of Securities that such
defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the
total principal amount of Securities, the non-defaulting Underwriter or Underwriters may make
arrangements
satisfactory to the Company for the purchase of such Securities by other persons, including
any of the Underwriters, but if no such arrangements are made by the Closing Date, the
non-defaulting Underwriters shall be obligated severally, in proportion to their respective
commitments hereunder, to purchase the Securities that such defaulting Underwriters agreed but
failed to purchase. If any Underwriter or Underwriters so default and the aggregate principal
amount of Securities with respect to which such default or defaults occur exceeds 10% of the total
principal amount of Securities and arrangements satisfactory to the non-defaulting Underwriters and
the Company for the purchase of such Securities by other persons are not made within 36 hours after
such default, this Agreement will terminate without liability on the part of any non-defaulting
Underwriter or the Company, except as provided in Section 11. As used in this Agreement, the term
“Underwriter” includes any person substituted for a Underwriter under this Section. Nothing herein
will relieve a defaulting Underwriter from liability for its default.

     10. Qualified Independent Underwriter. The Company hereby confirms that at its request BNP
Paribas Securities Corp. has without compensation acted as “qualified independent underwriter” (in
such capacity, the “QIU”) within the meaning of Rule 2720 of the Conduct Rules of the National
Association of Securities Dealers, Inc. in connection with the offering of the Securities. The
Company will indemnify and hold harmless the QIU, its directors, officers, employees and agents and
each person, if any, who controls such Underwriter within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act against any and all losses, claims, damages or
liabilities, joint or several, to which the QIU may become subject, under the Act, the Exchange
Act, other Federal or state statutory law or regulation or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon the
QIU’s acting (or alleged failing to act) as “qualified independent underwriter” and will reimburse
the QIU for any legal or other expenses reasonably incurred by the QIU or any such person in
connection with investigating or defending any such loss, claim, damage, liability or action as
such expenses are incurred.

     Section 8(c) shall apply equally to any action brought against the QIU or any such person
in respect of which indemnity may be sought against the Company pursuant to the immediately
preceding sentence, except that the Company shall be liable for the expenses of one separate
counsel (in addition to any local counsel) for the QIU and any such person, separate and in
addition to counsel for the persons

23

 

who may seek indemnification pursuant to the first paragraph
of this Section 10, in any such action (to the extent the legal position of the QIU or such person
differs from the other indemnified parties or may be subject to different claims and defences than
the other indemnified parties).

     11. Survival of Certain Representations and Obligations. The respective indemnities,
agreements, representations, warranties and other statements of the Company or its officers and of
the Underwriters set forth in or made pursuant to this Agreement will remain in full force and
effect, regardless of any investigation, or statement as to the results thereof, made by or on
behalf of any Underwriter, the Company or any of their respective representatives, officers or
directors or any controlling person, and will survive delivery of and payment for the Securities.
If this Agreement is terminated pursuant to Section 9 or if for any reason the purchase of the
Securities by the Underwriters is not consummated, the Company shall remain responsible for the
expenses to be paid or reimbursed by it pursuant to Section 5 and the respective obligations of the
Company and the Underwriters pursuant to Section 8 and the obligations of the Company pursuant to
Section 10 hereof shall remain in effect. If the purchase of the Securities by the Underwriters is
not consummated for any reason other than solely because of the termination of this Agreement
pursuant to Section 9 or the occurrence of any event specified in clause (iii), (iv), (v), (vi) or
(vii) of Section 7(f), the Company will reimburse the Underwriters for all out-of-pocket expenses
(including fees and disbursements of counsel plus VAT where applicable) reasonably incurred by them
in connection with the offering of the Securities.

     12. Notices. All communications hereunder will be in writing and, if sent to the Underwriters
will be mailed, delivered or faxed to the Underwriters, c/o Credit Suisse Securities (Europe)
Limited, One Cabot Square, London E14 4QJ, United Kingdom, Attention: High Yield Capital Markets,
facsimile number +44 20 7890 2312 or, if sent to the Company, will be mailed or delivered or faxed
to it at Tour
Montparnasse 33 avenue du Maine 75755 Paris Cedex 15, Attention: Mr. Thierry Le Roux and Mr.
Stephane-Paul Frydman, facsimile number + 33 1 64 47 34 31. Any such notice shall take effect, in
the case of delivery, at the time of delivery, in the case of mail two business days after the same
was deposited in the post (first class postage prepaid) and, in the case of facsimile, at the time
of completion of the transmission.

     13. Successors. This Agreement will inure to the benefit of and be binding upon the parties
hereto and their respective successors and the controlling persons referred to in Section 8. No
Underwriter of Securities from any Underwriter shall be deemed to be a successor merely by reason
of such purchase.

     14. Counterparts. This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original, but all such counterparts shall together constitute one and the
same Agreement. Delivery of an executed signature page to this Agreement by facsimile shall be as
effective as delivery of a manually executed document.

     15. Representation of Underwriters. CS will act for the several Underwriters in connection
with this purchase, and any action under this Agreement taken by CS will be binding upon all the
Underwriters.

     16. Absence of Fiduciary Relationship. The Company and the Guarantors acknowledge and agree
that:

     (a) The Underwriters have been retained solely to act as underwriters in connection with
the sale of the Securities and no fiduciary, advisory or agency relationship between Company
or any of the Guarantors, on the one hand, and the Underwriters, on the other, has been
created in respect of any of the transactions contemplated by this Agreement or the Final
Prospectus, irrespective of whether the Underwriters have advised or are advising the Company
or any of the Guarantors on other matters;

     (b) the price of the Securities set forth in this Agreement was established by the
Company and the Guarantors following discussions and arms-length negotiations with the
Underwriters and the Company and the Guarantors are capable of evaluating and understanding,
and understand and accept, the terms, risks and conditions of the transactions contemplated
by this Agreement;

24

 

     (c) the Company and the Guarantors have been advised that the Underwriters and their
affiliates are engaged in a broad range of transactions which may involve interests that
differ from those of the Company or of any of the Guarantors and that the Underwriters have
no obligation to disclose such interests and transactions to the Company or any of the
Guarantors by virtue of any fiduciary, advisory or agency relationship; and

     (d) the Company and the Guarantors waive, to the fullest extent permitted by law, any
claims they may have against the Underwriters for breach of fiduciary duty or alleged breach
of fiduciary duty and agree that the Underwriters shall have no liability (whether direct or
indirect) to the Company in respect of such a fiduciary duty claim or to any person asserting
a fiduciary duty claim on behalf of or in right of the Company or any of the Guarantors,
including shareholders, employees or creditors of the Company or any of the Guarantors,
respectively.

     17. Applicable Law and Jurisdiction.

     (a) This Agreement shall be governed by, and construed in accordance with, the laws of
the State of New York.

     (b) The Company hereby submits to the non-exclusive jurisdiction of the Federal and
state courts in the Borough of Manhattan in The City of New York in any suit or proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby.

     (c) The Company irrevocably appoints CT Corporation, 111 8th Avenue, New
York, New York 10011, as its authorized agent in New York, upon which process may be served
in any such suit or proceeding, and agrees that service of process upon such agent, and
written notice of said service to the Company by the person serving the same to the address
provided in Section 12, shall be deemed in every respect effective service of process upon
the Company in any such suit or proceeding. The Company further agrees to take any and all
action as may be necessary to maintain such designation and appointment of such agent in full
force and effect for a period of eight years from the date of this Agreement.

     18. Headings. The headings herein are included for convenience of reference only and are not
intended to be part of, or to affect the meaning or interpretation of, this Agreement.

     19. Severability/Illegality. If any provision in this Agreement shall be held to be illegal,
invalid or unenforceable, in whole or in part, under any enactment or rule of law, such provision
or part shall (so far as illegal, invalid or unenforceable) be given no effect and deemed not be
included in this Agreement but the legality, validity and enforceability of the remainder of this
Agreement shall not be affected.

     20. Currency. The obligation of the Company in respect of any sum due to any Underwriter or
other indemnified party, as applicable, shall, notwithstanding any judgment in a currency other
than Euro, not be discharged until the first business day, following receipt by such Underwriter or
other indemnified party, as applicable, of any sum adjudged to be so due in such other currency, on
which (and only to the extent that) such Underwriter or other indemnified party, as applicable, is
able in accordance with normal banking procedures purchase Euro with such other currency; if the
Euro so purchased are less than the sum originally due to such Underwriter or other indemnified
party, as applicable, hereunder, the Company agrees, as a separate obligation and notwithstanding
any such judgment, to indemnify such Underwriter or other indemnified party, as applicable, against
such loss. If the Euro so purchased are greater than the sum originally due to such Underwriter or
other indemnified party, as applicable, hereunder, such Underwriter or other indemnified party, as
applicable, agrees to pay to the Company an amount equal to the excess of the Euro so purchased
over the sum originally due to such Underwriter or other indemnified party, as applicable,
hereunder.

     References in this Agreement to this Agreement and any of the Indentures shall be deemed to
include such agreements or deeds as amended, varied or supplemented from time to time.

[Signature page follows.]

25

 

     If the foregoing is in accordance with the Underwriters’ understanding of our agreement,
kindly sign and return to us one of the counterparts hereof, whereupon it will become a binding
agreement between the Company and the Underwriters in accordance with its terms.

Very truly yours,

	 	 	 	 	 	 	 
	 	 	COMPAGNIE GENERALE DE GEOPHYSIQUE — VERITAS	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Robert Brunck	 	 
	 

	 	Name:
	 	 
Robert Brunck
	 	 
	 

	 	Title:	 	Chairman and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CGG AMERICAS Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Robert Brunck	 	 
	 

	 	Name:
	 	 
Robert Brunck
	 	 
	 

	 	Title:	 	Chairman	 	 
	 
	 	 	 	 	 	 
	 	 	CGG CANADA SERVICES LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Stephane-Paul Frydman 	 	 
	 

	 	Name:
	 	 
Stephane-Paul Frydman
	 	 
	 

	 	Title:	 	CGG Veritas CFO	 	 
	 
	 	 	 	 	 	 
	 	 	CGG MARINE RESOURCES NORGE A/S	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Stephane-Paul Frydman	 	 
	 

	 	Name:
	 	 
Stephane-Paul Frydman
	 	 
	 

	 	Title:	 	CGG Veritas CFO	 	 
	 
	 	 	 	 	 	 
	 	 	SERCEL INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Stephane-Paul Frydman	 	 
	 

	 	Name:
	 	 
Stephane-Paul Frydman
	 	 
	 

	 	Title:	 	CGG Veritas CFO	 	 
	 
	 	 	 	 	 	 
	 	 	SERCEL AUSTRALIA PTY LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Stephane-Paul Frydman	 	 
	 

	 	Name:
	 	 
Stephane-Paul Frydman
	 	 
	 

	 	Title:	 	CGG Veritas CFO	 	 
	 
	 	 	 	 	 	 
	 	 	SERCEL CANADA LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Stephane-Paul Frydman	 	 
	 

	 	Name:
	 	 
Stephane-Paul Frydman
	 	 
	 

	 	Title:	 	CGG Veritas CFO	 	 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	CGG VERITAS SERVICES INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brent Whiteley	 	 
	 

	 	Name:
	 	 
Brent Whiteley
	 	 
	 

	 	Title:	 	Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	VERITAS GEOPHYSICAL CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brent Whiteley	 	 
	 

	 	Name:
	 	 
Brent Whiteley
	 	 
	 

	 	Title:	 	Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	VERITAS INVESTMENTS INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brent Whiteley	 	 
	 

	 	Name:
	 	 
Brent Whiteley
	 	 
	 

	 	Title:	 	Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	VERITAS DGC LAND INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brent Whiteley	 	 
	 

	 	Name:
	 	 
Brent Whiteley
	 	 
	 

	 	Title:	 	Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	VIKING MARITIME INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brent Whiteley	 	 
	 

	 	 	 	 
Brent Whiteley
	 	 
	 

	 	Name:	 	Brent Whiteley	 	 
	 

	 	Title:	 	Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	VERITAS GEOPHYSICAL (MEXICO) LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brent Whiteley	 	 
	 

	 	Name:
	 	 
Brent Whiteley
	 	 
	 

	 	Title:	 	Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	ALITHEIA RESOURCES INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brent Whiteley	 	 
	 

	 	Name:
	 	 
Brent Whiteley
	 	 
	 

	 	Title:	 	Secretary	 	 

 

	 	 	 	 	 	 	 
	 	 	VERITAS DGC ASIA PACIFIC LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brent Whiteley	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	Brent Whiteley	 	 
	 

	 	Title:	 	Secretary	 	 

The foregoing Underwriting Agreement

is hereby confirmed and accepted

as of the date first above written.

CREDIT SUISSE SECURITIES (EUROPE) LIMITED

Acting on behalf of itself and as the Representative of the several Underwriters

	 	 	 	 	 	 	 
	 

	 	BY:	 	/s/ Marisa Drew	 	 
	 

	 	Name:
	 	 
Marisa Drew
	 	 
	 

	 	Title:	 	MD	 	 
	 
	 	 	 	 	 	 
	 

	 	BY:	 	/s/ Matthew Cestar	 	 
	 

	 	Name:
	 	 
Matthew Cestar
	 	 
	 

	 	Title:	 	MD	 	 

 

SCHEDULE A

	 	 	 	 	 	 	 
	 	 	Principal	 	Principal Amount
	 	 	Amount of	 	of
	Underwriter	 	Additional Notes	 	New Notes
	Credit Suisse Securities (Europe) Limited

	 	U.S.$	130,000,000
	 	U.S.$	260,000,000
	BNP Paribas Securities Corp.

	 	U.S.$	23,700,000
	 	U.S.$	47,400,000
	Natexis Bleichroeder Inc.

	 	U.S.$	23,700,000
	 	U.S.$	47,400,000
	SG Americas Securities, LLC.

	 	U.S.$	17,600,000
	 	U.S.$	35,200,000
	Calyon Securities (USA), Inc.

	 	U.S.$	5,000,000
	 	U.S.$	10,000,000
	 
	    Total

	 	U.S.$	200,000,000
	 	U.S.$	400,000,000

A-1

 

SCHEDULE B

[The Pricing Term Sheets to be attached]

B-1

 

SCHEDULE C

Subsidiaries

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Share	 	 
	 	 	Jurisdiction	 	Capital held	 	 
	 	 	of	 	directly or	 	 
	Company Subsidiaries	 	Organization	 	indirectly	 	Guarantor
	CGG Marine SAS
	 	France	 	 	100.0	%	 	 	 	 
	Geocal SARL
	 	France	 	 	100.0	%	 	 	 	 
	Geoco SAS
	 	France	 	 	100.0	%	 	 	 	 
	Sercel SA
	 	France	 	 	100.0	%	 	 	 	 
	CGG Explo SARL
	 	France	 	 	100.0	%	 	 	 	 
	Sercel Holding SA
	 	France	 	 	100.0	%	 	 	 	 
	CGG Americas, Inc.
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	CGG do Brasil Participacoes Ltda.
	 	Brazil	 	 	100.0	%	 	 	 	 
	CGG Canada Services Ltd.
	 	Canada	 	 	100.0	%	 	Yes
	CGG International SA
	 	Switzerland	 	 	100.0	%	 	 	 	 
	CGG (Nigeria) Ltd.
	 	Nigeria	 	 	100.0	%	 	 	 	 
	CGG Marine Resources Norge A/S
	 	Norway	 	 	100.0	%	 	Yes
	CGG Offshore UK Ltd.
	 	United Kingdom	 	 	100.0	%	 	 	 	 
	CGG Pan India Ltd.
	 	India	 	 	40.0	%	 	 	 	 
	CGG Selva
	 	Peru	 	 	100.0	%	 	 	 	 
	Compania Mexicana de Geofisica
	 	Mexico	 	 	100.0	%	 	 	 	 
	Compaghia de Geologica e Geofisica Portuguesa
	 	Portugal	 	 	100.0	%	 	 	 	 
	Exgeo CA
	 	Venezuela	 	 	100.0	%	 	 	 	 
	Geoexplo
	 	Kazakhstan	 	 	100.0	%	 	 	 	 
	Geophysics Overseas Corporation Ltd.
	 	Bahamas	 	 	100.0	%	 	 	 	 

C-1

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Share	 	 
	 	 	Jurisdiction	 	Capital held	 	 
	 	 	of	 	directly or	 	 
	Company Subsidiaries	 	Organization	 	indirectly	 	Guarantor
	CGG Australia Services Pty Ltd.
	 	Australia	 	 	100.0	%	 	 	 	 
	CGG Asia Pacific
	 	Malaysia	 	 	33.2	%	 	 	 	 
	Petroleum Exploration Computer Consultants Ltd.
	 	United Kingdom	 	 	100.0	%	 	 	 	 
	PT Alico
	 	Indonesia	 	 	100.0	%	 	 	 	 
	Sercel Australia Pty Ltd.
	 	Australia	 	 	100.0	%	 	Yes
	Hebei Sercel JunFeng
	 	China	 	 	100.0	%	 	 	 	 
	Sercel Inc.
	 	Oklahoma	 	 	100.0	%	 	Yes
	Sercel Singapore Pte Ltd.
	 	Singapore	 	 	100.0	%	 	 	 	 
	Sercel England Ltd.
	 	United Kingdom	 	 	100.0	%	 	 	 	 
	Sercel Canada Ltd.
	 	Canada	 	 	100.0	%	 	Yes
	Exploration Resources ASA
	 	Norway	 	 	100.0	%	 	 	 	 
	Multiwave Geophysical Company ASA
	 	Norway	 	 	100.0	%	 	 	 	 
	Exploration Vessel Resources
	 	Norway	 	 	100.0	%	 	 	 	 
	Exploration Vessel Resources II
	 	Norway	 	 	100.0	%	 	 	 	 
	Exploration Investment Resources II
	 	Norway	 	 	100.0	%	 	 	 	 
	CGG Veritas Services Inc.
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	Inupiat Geophysical LLC
	 	 	U.S.A.	 	 	45.0	%	 	 	 	 
	Alitheia Resources Inc.
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	Veritas DGC Asia Pacific Ltd.
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	Veritas DGC Land Inc.
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	Veritas Geophysical Corporation
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	Veritas Geophysical (Mexico) LLC
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	Veritas Investments Inc.
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	Viking Maritime Inc.
	 	 	U.S.A.	 	 	100.0	%	 	Yes
	Hampson Russell GP Inc.
	 	Canada	 	 	100.0	%	 	 	 	 

C-2

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Share	 	 
	 	 	Jurisdiction	 	Capital held	 	 
	 	 	of	 	directly or	 	 
	Company Subsidiaries	 	Organization	 	indirectly	 	Guarantor
	Hampson Russell Limited Partnership
	 	Canada	 	 	100.0	%	 	 	 	 
	Time Seismic Exchange Ltd.
	 	Canada	 	 	100.0	%	 	 	 	 
	Time Seismic Leasing Ltd.
	 	Canada	 	 	100.0	%	 	 	 	 
	Veritas Energy Services Inc.
	 	Canada	 	 	100.0	%	 	 	 	 
	Veritas Energy Services Partnership
	 	Canada	 	 	100.0	%	 	 	 	 
	Veritas MacKenzie Delta Ltd.
	 	Canada	 	 	100.0	%	 	 	 	 
	Veri-Illuq Geophysical Ltd.
	 	Canada	 	 	49.0	%	 	 	 	 
	Yamoria Geophysical, Ltd.
	 	Canada	 	 	49.0	%	 	 	 	 
	Veritas Geophysical (Canada) Corporation
	 	Canada	 	 	100.0	%	 	 	 	 
	Guardian Data Seismic Pty Limited
	 	Australia	 	 	100.0	%	 	 	 	 
	Veritas DGC Australia Pty. Ltd.
	 	Australia	 	 	100.0	%	 	 	 	 
	Veritas do Brasil Ltda.
	 	Brazil	 	 	100.0	%	 	 	 	 
	Veritas DGC
(B) Sdn. Bhd.
	 	Brunei	 	 	100.0	%	 	 	 	 
	Veritas Geophysical III
	 	Cayman Islands	 	 	100.0	%	 	 	 	 
	Veritas Geophysical IV
	 	Cayman Islands	 	 	100.0	%	 	 	 	 
	Exploraciones Geofisicas Veritas Geophysical
Chile Limitada
	 	Chile	 	 	100.0	%	 	 	 	 
	Veritas Geophysical (Chile) S.A.
	 	Chile	 	 	100.0	%	 	 	 	 
	Veritas Geophysical (France) SARL
	 	France	 	 	100.0	%	 	 	 	 
	Veritas DGC Land Guatemala S.A.
	 	Guatemala	 	 	100.0	%	 	 	 	 
	P.T. Veritas DGC Mega Pratama
	 	Indonesia	 	 	80.0	%	 	 	 	 
	Viking Global Offshore Limited
	 	Jersey, Channel Islands	 	 	100.0	%	 	 	 	 
	Veritas Caspian LLP
	 	Kazakhstan	 	 	50.0	%	 	 	 	 
	Veritas DGC
(Malaysia) Sdn. Bhd.
	 	Malaysia	 	 	70.0	%	 	 	 	 
	Veritas Energy Services (Nigeria) Limited
	 	Nigeria	 	 	100.0	%	 	 	 	 
	Digicon (Nigeria) Ltd.
	 	Nigeria	 	 	60.0	%	 	 	 	 
	Veritas Geophysical (Nigeria) Limited
	 	Nigeria	 	 	60.0	%	 	 	 	 

C-3

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Share	 	 
	 	 	Jurisdiction	 	Capital held	 	 
	 	 	of	 	directly or	 	 
	Company Subsidiaries	 	Organization	 	indirectly	 	Guarantor
	Veritas Geophysical Services (Norway) AS
	 	Norway	 	 	100.0	%	 	 	 	 
	Veritas DGC (Mexico) S. de R.L. de C.V.
	 	Mexico	 	 	100.0	%	 	 	 	 
	Veritas Servicios Geofisicos S. de R.L. de C.V.
	 	Mexico	 	 	100.0	%	 	 	 	 
	Veritas Servicios Technicos S. de R.L. de C.V.
	 	Mexico	 	 	100.0	%	 	 	 	 
	Veritas DGC Singapore Pte. Ltd.
	 	Singapore	 	 	100.0	%	 	 	 	 
	Veritas Geophysical (Asia Pacific) Pte. Ltd.
	 	Singapore	 	 	100.0	%	 	 	 	 
	Veritas DGC Limited
	 	United Kingdom	 	 	100.0	%	 	 	 	 
	Veritas Geophysical Limited
	 	United Kingdom	 	 	100.0	%	 	 	 	 
	Veritas Geoservices Ltd. SA
	 	Venezuela	 	 	100.0	%	 	 	 	 
	Inupiat Geophysical LLC
	 	 	U.S.A.	 	 	45.0	%	 	 	 	 

C-4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]