Document:

exh10-1.htm

 

  

  

  

 

EXHIBIT 10.1

 

 

AMENDMENT NO. 7 TO CREDIT AGREEMENT

 

This Amendment No. 7 to Credit Agreement, dated as of September 26, 2012, (this “Amendment”), is entered into by HELIX ENERGY SOLUTIONS GROUP, INC., a Minnesota corporation (the “Borrower”), the lenders party to the Credit Agreement described below, and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”), Swing Line Lender and L/C Issuer.

 

INTRODUCTION

 

Reference is made to the Credit Agreement dated as of July 3, 2006 (as modified from time to time, the “Credit Agreement”), among the Borrower, the lenders from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), and the Administrative Agent.

 

The Borrower seeks flexibility (i) in making Investments in its Foreign Subsidiaries and joint ventures and, (ii) for its Foreign Subsidiaries to incur secured and unsecured Indebtedness.

 

The Borrower has requested, and the Lenders and the Administrative Agent have agreed, on the terms and conditions set forth herein, to make certain amendments to the Credit Agreement.

 

THEREFORE, in connection with the foregoing and for other good and valuable consideration, the Borrower, the Lenders, and the Administrative Agent hereby agree as follows:

 

Section 1. Definitions; References.  Unless otherwise defined in this Amendment, each term used in this Amendment that is defined in the Credit Agreement has the meaning assigned to such term in the Credit Agreement.

 

Section 2. Amendment of Credit Agreement.

 

(a) Section 1.01 of the Credit Agreement is hereby amended by adding the following definition  in appropriate alphabetical order:

 

“Excluded Foreign Subsidiary Assets” means the property or assets of, or Equity Interests in, any Foreign Subsidiary which are subject to a Lien or negative pledge pursuant to Indebtedness incurred under Section 7.03(o).

 

(b) Section 7.01 of the Credit Agreement is hereby amended by replacing clause (u) thereto in its entirety with the following:

 

(u) Liens on the property or assets of, or Equity Interests in, Foreign Subsidiaries, other than Helix Offshore Ltd. (or any Subsidiary of Helix Offshore Ltd. owning, directly or indirectly, any of (y) the Equity Interests of Helix Well Ops (U.K.) Limited (or other Subsidiary owning the Seawell in whole or in part) or (z) the Equity Interests of any Person owning, directly or indirectly, any such Equity Interests), in each case, securing Indebtedness permitted under Section 7.03(o).

 

  

 

  

 

(c) Section 7.02 of the Credit Agreement is hereby amended by replacing clause (g) thereto in its entirety with the following:

 

(g) Investments in joint ventures, subject to the final clause of this Section 7.02, if immediately before and after giving effect to such Investment, no Default shall have occurred and be continuing;

 

(d) Section 7.02 of the Credit Agreement is hereby amended by replacing the final clause thereto in its entirety with the following:

 

Notwithstanding anything in this Section 7.02 or elsewhere in this Agreement to the contrary, no Investment shall be permitted in any joint venture or in any Subsidiary that is neither a Loan Party nor a Foreign Subsidiary whose Equity Interests are pledged pursuant to a Foreign Pledge Agreement, unless, immediately after giving effect to any such Investment, the sum of the Availability plus unrestricted cash and Cash Equivalents of the Borrower and its Subsidiaries is equal to or more than $400,000,000.

 

(e) Section 7.03 of the Credit Agreement is hereby amended by replacing clause (o) thereto in its entirety with the following:

 

(o) Indebtedness of Foreign Subsidiaries, other than Helix Offshore Ltd. (or any Subsidiary of Helix Offshore Ltd. owning, directly or indirectly, any of (y) the Equity Interests of Helix Well Ops (U.K.) Limited (or other Subsidiary owning the Seawell in whole or in part) or (z) the Equity Interests of any Person owning, directly or indirectly, any such Equity Interests), in an aggregate principal amount not to exceed $400,000,000 at any time outstanding; provided that such Indebtedness is expressly made non-recourse to the Borrower and its Subsidiaries (other than the Subsidiary incurring such Indebtedness) and other than any recourse to the Equity Interests of such Subsidiary to the extent pledged as collateral therefor.

 

(f) Section 7.05 of the Credit Agreement is hereby amended by replacing clause (q) thereto in its entirety with the following:

 

(q) Dispositions of Oil and Gas Properties, the Caesar and Reeled Pipelay Assets (or all of the Equity Interests of any Subsidiary owning no assets other than any of the foregoing assets) not otherwise permitted under this Section 7.05; provided, that (i) at the time of such Disposition, no Default shall exist or immediately would result from such Disposition, (ii) except as otherwise specifically provided below, no less than 75% of the consideration received for any such asset shall be in the form of cash (which, solely for purposes of this clause (q), shall be deemed to include any liabilities, as shown on the Borrower’s most recent consolidated balance sheet, of the Borrower or any Subsidiary (other than contingent liabilities and liabilities that are by their terms subordinated to the Loans or any Guaranty thereof) that are assumed by the transferee of any such assets pursuant to a customary novation agreement that releases the Borrower or such Subsidiary from further liability), and (iii) 100% of the Net Cash Proceeds of any such Disposition shall be applied to the prepayment of the Loans in accordance with Section 2.06(d).  For the avoidance of doubt, in the case of Oil and Gas Properties such 

 

  

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75% cash consideration requirement shall be determined based on the value of the applicable property after giving effect to the Decommissioning Liabilities properly attributable thereto.  With respect to farmouts of proved undeveloped Oil and Gas Properties pursuant to this clause (q), the Borrower or applicable Subsidiary shall not be required to obtain at least 75% of the total consideration therefor in the form of cash, and may farmout such properties in exchange for the Borrower’s or applicable Subsidiary’s portion of the development costs of the applicable property;

 

provided, however, that any Disposition pursuant to clauses (a) through (g), (j)(ii), (k), (m), (n), (p) and (q) shall be for fair market value.

 

For purposes of determining compliance with this Section 7.05, the fair market value of any property Disposed of for consideration not consisting entirely of cash shall be the sum of the cash portion of the consideration, if any, and the fair market value of the non-cash portion of the consideration, as reasonably determined by the Borrower in good faith.

 

(g) Section 7.09 of the Credit Agreement is hereby amended by replacing clause (A) of the second proviso appearing in such Section in its entirety with the following:

 

(A) prohibit any negative pledge incurred or provided in favor of any holder of (1) a Lien permitted by Section 7.01(f), (i), (q), (r), (s), (t) or (u), (2) secured Indebtedness permitted under Section 7.03(e), (h), (n) or (o), in each case, solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness or permitted by the terms of such provisions to be encumbered (or, in the case of a Lien permitted by Section 7.01(u) or secured Indebtedness permitted under Section 7.03(o), the Equity Interests of the Foreign Subsidiary incurring such Indebtedness) or (3) Indebtedness permitted under Section 7.03(o) solely to the extent any such negative pledge relates to property of the Foreign Subsidiaries obligated thereon and

 

(h) Section 7.11 of the Credit Agreement is hereby amended by adding the following paragraph at the end of such Section:

 

For purposes of calculating the Consolidated Interest Coverage Ratio, the Consolidated Leverage Ratio and the Consolidated Senior Secured Leverage Ratio for all purposes of this Agreement, (a) Consolidated EBITDA attributable to Excluded Foreign Subsidiary Assets shall be excluded from Consolidated EBITDA and Consolidated Interest Charges attributable to the Indebtedness relating to Excluded Foreign Subsidiary Assets shall be excluded from Consolidated Interest Charges and (b) Indebtedness of Foreign Subsidiaries incurred under Section 7.03(o) and secured by any Excluded Foreign Subsidiary Assets (or a negative pledge thereon) shall be excluded from Consolidated Funded Indebtedness and Consolidated Funded Senior Secured Indebtedness.  The foregoing items and related calculations thereof, including all adjustments to Consolidated EBITDA, Consolidated Interest Charges, Consolidated Leverage Ratio, and Consolidated Senior Secured Leverage Ratio, shall be set forth in each applicable Compliance Certificate and shall be acceptable to the Administrative Agent.

 

  

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(i) Exhibit D (Form of Compliance Certificate) to the Credit Agreement is hereby deleted in its entirety and replaced with Exhibit D attached hereto.

 

Section 3. Representations and Warranties.  The Borrower represents and warrants that (a) the execution, delivery, and performance of this Amendment by each Loan Party are within the corporate or equivalent power and authority of such Loan Party and have been duly authorized by all necessary corporate or other organizational action, (b) this Amendment, and the Credit Agreement as amended hereby, constitute legal, valid, and binding obligations of each Loan Party, enforceable against each Loan Party in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws of general applicability affecting the enforcement of creditors’ rights and the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or law); (c) the representations and warranties of the Borrower and each other Loan Party contained in each Loan Document are true and correct in all material respects as of the date of this Amendment, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date and except that for purposes of this Section 3(c), the representations and warranties contained in subsections (a), (b) and (c) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements, Reserve Report, or Interim Engineer’s Certificate, as applicable, furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement or clause (f) of Section 6.02 of the Credit Agreement, as applicable; (d) no Default or Event of Default exists under the Loan Documents; and (e) the Liens under the Security Documents are valid and subsisting and secure the Obligations.

 

Section 4. Effect on Credit Documents.  Except as heretofore amended and in effect and amended herein, the Credit Agreement and all other Loan Documents remain in full force and effect as originally executed.  Nothing herein shall act as a waiver of any of the Administrative Agent’s or any Lender’s rights under the Loan Documents as amended, including the waiver of any default or event of default, however denominated.  Each party hereto acknowledges and agrees that this Amendment shall in no manner impair or affect the validity or enforceability of the Credit Agreement, as amended hereby.  This Amendment is a Loan Document for the purposes of the provisions of the other Loan Documents.  Without limiting the foregoing, any breach of representations, warranties, and covenants under this Amendment may be a default or event of default under the other Loan Documents.

 

Section 5. Effectiveness.  This Amendment shall become effective, and the Credit Agreement shall be amended as provided for herein as of the date first set forth above, upon the satisfaction of the following conditions:

 

(a) the Administrative Agent (or its counsel) shall have received counterparts hereof duly executed and delivered by a duly authorized officer of the Borrower, each Guarantor, and by the Lenders whose consent is required to effect the amendments contemplated hereby; and

 

(b) the Administrative Agent shall have received, or shall concurrently receive (i) for the account of each Lender executing this Amendment by 5:00 p.m. (Central) on September 24, 2012, an amendment fee equal to 12.5 basis points on the principal amount of such Lender’s 

 

  

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Revolving Credit Commitment, aggregate outstanding Term Loans, and aggregate outstanding Additional Term Loans, as applicable, as of such date, and (ii) for the account of the applicable Person, payment of all other fees payable in connection with this Amendment.

 

Section 6. Reaffirmation of Guaranty.  By its signature hereto, each Guarantor represents and warrants that such Guarantor has no defense to the enforcement of the Guaranty, and that according to its terms the Guaranty will continue in full force and effect to guaranty the Borrower’s obligations under the Credit Agreement and the other amounts described in the Guaranty following the execution of this Amendment.

 

Section 7. Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

Section 8. Miscellaneous.  The miscellaneous provisions set forth in Article X of the Credit Agreement apply to this Amendment.  This Amendment may be signed in any number of counterparts, each of which shall be an original, and may be executed and delivered electronically, including by telecopier and portable digital format (.PDF).

 

Section 9. ENTIRE AGREEMENT.  THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

 

[signature page follows]

 

  

5

  

 

EXECUTED as of the first date above written.

 

 

	
  

	
BORROWER

 

 

	 	HELIX ENERGY SOLUTIONS GROUP, INC.	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Lloyd Hajdik	 
	 	Name:	Lloyd Hajdik 	 
	 	Title:	
Senior Vice President - Finance 

and Chief Accounting Officer 

	 
	 	 	 	 

 

 

 

	
  

	
GUARANTORS

 

 

	
  

	
CAESAR HOLDING CO LLC, a Delaware limited liability company

	
  

	
CANYON OFFSHORE, INC., a Texas corporation

	
  

	
CANYON OFFSHORE INTERNATIONAL CORP., a Texas corporation

	
  

	
ENERGY RESOURCE TECHNOLOGY GOM, INC., a Delaware corporation

	
  

	
HELIX INGLESIDE LLC, a Delaware limited liability company

	
  

	
HELIX OFFSHORE INTERNATIONAL, INC., a Texas corporation

	
  

	
HELIX SUBSEA CONSTRUCTION, INC., a Delaware corporation

	
  

	
HELIX VESSEL HOLDINGS LLC, a Delaware limited liability company

	
  

	
HELIX WELL OPS INC., a Texas corporation

	
  

	
NEPTUNE VESSEL HOLDINGS LLC, a Delaware limited liability company

	
  

	
VULCAN MARINE TECHNOLOGY LLC, a Delaware limited liability company

 

	 	 	 	 
	
 

	
By: 

	/s/ Anthony Tripodo	 
	 	Name:	Anthony Tripodo	 
	 	Title:	Vice President and Treasurer	 
	 	 	 	 

 

                                       

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	BANK OF AMERICA, N.A., as Administrative Agent	 
	 	 	 	 
	
 

	
By: 

	/s/ DeWayne D. Rosse	 
	 	 	DeWayne D. Rosse 	 
	 	 	Agency Management Officer	 
	 	 	 	 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
BANK OF AMERICA, N.A., as a Lender, L/C 

Issuer and Swing Line Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Julie Castano	 
	 	 	Julie Castano	 
	 	 	Vice President	 
	 	 	 	 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
AMEGY BANK NATIONAL ASSOICATION

	 
	 	 	 	 
	
 

	
By: 

	/s/ G. Scott Collins	 
	 	Name:	G. Scott Collins	 
	 	Title:	Senior Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
CAPITAL ONE, N.A.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Don Backer	 
	 	Name:	Don Backer	 
	 	Title:	SVP	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
COMERICA BANK

	 
	 	 	 	 
	
 

	
By: 

	/s/ Brenton Bellamy	 
	 	Name:	Brenton Bellamy	 
	 	Title:	Assistant Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
COMPASS BANK

	 
	 	 	 	 
	
 

	
By: 

	/s/ Stuart Murray	 
	 	Name:	Stuart Murray	 
	 	Title:	Senior Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
CREDIT SUISSE AG, CAYMAN ISLANDS

	 
	 	BRANCH	 
	 	 	 	 
	
 

	
By: 

	/s/ Mikhail Faybusovich	 
	 	Name:	Mikhail Faybusovich	 
	 	Title:	Director	 

 

	
 

	
By: 

	/s/ Vipul Dhadda	 
	 	Name:	Vipul Dhadda	 
	 	Title:	Associate	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
DEUTSCHE BANK TRUST COMPANY

	 
	 	AMERICAS	 
	 	 	 	 
	
 

	
By: 

	/s/ Michael Getz	 
	 	Name:	Michael Getz	 
	 	Title:	Vice President	 

 

	
 

	
By: 

	/s/ Marcus M. Tarkington	 
	 	Name:	Marcus M. Tarkington	 
	 	Title:	Director	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
IBERIABANK

	 
	 	 	 	 
	
 

	
By: 

	/s/ Christopher Dvorachek	 
	 	Name:	Christopher Dvorachek	 
	 	Title:	Senior Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
ING CAPITAL LLC

	 
	 	 	 	 
	
 

	
By: 

	/s/ Subha Pasumarti	 
	 	Name:	Subha Pasumarti	 
	 	Title:	Director	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
NATIXIS

	 
	 	 	 	 
	
 

	
By: 

	/s/ Carlos Quinteros	 
	 	Name:	Carlos Quinteros	 
	 	Title:	Managing Director	 

 

	
 

	
By: 

	/s/ Daniel Payer	 
	 	Name:	Daniel Payer	 
	 	Title:	Managing Director	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
NORDEA BANK FINLAND PLC/LONDON

	 
	 	BRANCH	 
	 	 	 	 
	
 

	
By: 

	/s/ Sandra Pavic-Watkinson	 
	 	Name:	Sandra Pavic-Watkinson	 
	 	Title:	Relationship Manager	 

 

	
 

	
By: 

	/s/ Martin Kahm	 
	 	Name:	Martin Kahm	 
	 	Title:	Head of Offshore & Oil Services, London	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
RAYMOND JAMES BANK, N.A.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Scott G. Axelrod	 
	 	Name:	Scott G. Axelrod	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
RB INTERNATIONAL FINANCE (USA)

	 
	 	LLC	 
	 	 	 	 
	
 

	
By: 

	/s/ Shirley Ritch	 
	 	Name:	Shirley Ritch	 
	 	Title:	Vice President	 

 

	
 

	
By: 

	/s/ Peter Armieri	 
	 	Name:	Peter Armieri	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
WELLS FARGO BANK, N.A.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Robert Corder	 
	 	Name:	Robert Corder	 
	 	Title:	Director	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
WHITNEY BANK, a Louisiana state

	 
	 	chartered bank	 
	 	 	 	 
	
 

	
By: 

	/s/ Paul Cole	 
	 	Name:	Paul Cole	 
	 	Title:	Senior Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
FROST BANK

	 
	 	 	 	 
	
 

	
By: 

	/s/ David Stewart	 
	 	Name:	David Stewart	 
	 	Title:	Assistant Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Carlyle Azure CLO, Ltd.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Linda Pace	 
	 	Name:	Linda Pace	 
	 	Title:	Managing Director	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Aberdeen Loan Funding, Ltd

	 
	 	By: Highland Capital Management, L.P. As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	Atrium CDO	 
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	Atrium II	 
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	Atrium III	 
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	Atrium V	 
	 	By: Credit Suisse Asset Management, LLC, as collateral manager
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	Atrium VI	 
	 	By: Credit Suisse Asset Management, LLC, as collateral manager
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Ballantyne Funding LLC

	 
	 	 	 	 
	
 

	
By: 

	/s/ Tara Kenny	 
	 	Name:	Tara Kenny	 
	 	Title:	Assistant Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Bank of America, N.A.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Erik Grossman	 
	 	Name:	Erik Grossman	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	BELHURST CLO LTD.	 
	 	By: INVESCO Senior Secured Management, Inc.
	 	     As Collateral Manager
	 	 	 	 
	 	[INSERT LENDER NAME]	 
	 	 	 	 
	
 

	
By: 

	/s/ Thomas Ewald	 
	 	Name:	Thomas Ewald	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
BELL ATLANTIC MASTER TRUST

	 
	 	By: Crescent Capital Group LP, its sub-adviser	 
	 	 	 	 
	
 

	
By: 

	/s/ Meric Topbas	 
	 	Name:	Meric Topbas	 
	 	Title:	Vice President	 

 

	
 

	
By: 

	/s/ G. Wayne Hosang	 
	 	Name:	G. Wayne Hosang	 
	 	Title:	Senior Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Brentwood CLO, Ltd.

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
CIFC Funding 2006-I, Ltd.

	 
	 	By: CIFC Asset Management LLC, its Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Robert Milton	 
	 	Name:	Robert Milton	 
	 	Title:	Authorized Signatory	 

 

	 	
Hewett's Island CLO II, Ltd.

	 
	 	By: CypressTree Investment Management, LLC, its Collateral	 
	 	Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Robert Milton	 
	 	Name:	Robert Milton	 
	 	Title:	Authorized Signatory	 
	 	 	 

 

	 	
Cumberland II CLO Ltd.

	 
	 	Marquette Park CLO Ltd.	 
	 	Schiller Park CLO Ltd.	 
	 	Burr Ridge CLO Plus Ltd.	 
	 	Bridgeport CLO II Ltd.	 
	 	By: Deerfield Capital Management LLC, its Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Robert Milton	 
	 	Name:	Robert Milton	 
	 	Title:	Authorized Signatory	 
	 	 	 

 

	 	
ColumbusNova CLO Ltd. 2006-I

	 
	 	ColumbusNova CLO Ltd. 2006-II	 
	 	ColumbusNova CLO Ltd. 2007-I	 
	 	ColumbusNova CLO IV Ltd. 2007-II	 
	 	By: Columbus Nova Credit Investments Management, LLC, its 	 
	 	Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Robert Milton	 
	 	Name:	Robert Milton	 
	 	Title:	Authorized Signatory	 
	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	Castle Garden Funding	 
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Children's Healthcare of Atlanta Inc.

	 
	 	By: Highland Capital Management, L.P., 	 
	 	As Investment Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	Confluent 3 Limited.	 
	 	By: INVESCO Senior Secured Management, Inc. As Investment
	 	Manager
	 	 	 	 
	 	[INSERT LENDER NAME]	 
	 	 	 	 
	
 

	
By: 

	/s/ Thomas Ewald	 
	 	Name:	Thomas Ewald	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	CONFLUENT 4 LIMITED.	 
	 	As Lender	 
	 	 	 
	 	By: Loomis, Sayles & Company, L.P.
	 	       As Sub-Manager
	 	 
	 	By: Loomis, Sayles & Company, Incorporated.
	 	     Its General Partner
	 	 	 	 
	
 

	
By: 

	/s/ Mary McCarthy	 
	 	Name:	Mary McCarthy	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	CORTINA Funding	 
	 	 	 	 
	
 

	
By: 

	/s/ Richard Taylor	 
	 	Name:	Richard Taylor	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	CSAM Funding IV	 
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[Eagle Creek CLO, Ltd]

	 
	 	 	 	 
	
 

	
By: 

	/s/ Bryan Higgins	 
	 	Name:	Bryan Higgins	 
	 	Title:	Authorized Signor	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Eastland CLO, Ltd.

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
FIRST 2004-II CLO, LTD.

	 
	 	By: TCW-WLA JV Venture LLC, its sub-adviser	 
	 	 	 	 
	
 

	
By: 

	/s/ Meric Topbas	 
	 	Name:	Meric Topbas	 
	 	Title:	Vice President	 

 

	
 

	
By: 

	/s/ G. Wayne Hosang	 
	 	Name:	G. Wayne Hosang	 
	 	Title:	Senior Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Foothill CLO I, Ltd

	 
	 	 	 	 
	
 

	
By: 

	/s/ Linda Pace	 
	 	Name:	Linda Pace	 
	 	Title:	Managing Director	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Gleneagles CLO Ltd.

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Grayson CLO, Ltd.

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Greenbriar CLO LTD.

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Gulf Stream - Compass CLO 2005-I, Ltd.

	 
	 	By: Gulf Stream Asset Management LLC As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Joe Moroney	 
	 	Name:	Joe Moroney	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Gulf Stream - Compass CLO 2007, Ltd.

	 
	 	By: Gulf Stream Asset Management LLC As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Joe Moroney	 
	 	Name:	Joe Moroney	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Gulf Stream - Rashinban CLO 2006-I, Ltd.

	 
	 	By: Gulf Stream Asset Management LLC As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Joe Moroney	 
	 	Name:	Joe Moroney	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Gulf Stream - Sextant CLO 2006-1, Ltd.

	 
	 	By: Gulf Stream Asset Management LLC As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Joe Moroney	 
	 	Name:	Joe Moroney	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Gulf Stream - Sextant CLO 2007-1, Ltd.

	 
	 	By: Gulf Stream Asset Management LLC As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Joe Moroney	 
	 	Name:	Joe Moroney	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Hewett's Island CLO IV, Ltd.

	 
	 	By: LCM Asset Management LLC 	 
	 	       As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Alexander B. Kenna	 
	 	Name:	LCM Asset Management LLC	 
	 	 	Alexander B. Kenna	 
	 	Title:	 	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
HillMark Funding, Ltd.

	 
	 	By: Hillmark Capital Management, L.P., as Collateral	 
	 	Manager, as Lender	 
	 	 	 	 
	
 

	
By: 

	/s/ Mark Gold	 
	 	Name:	Mark Gold	 
	 	Title:	CEO	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
ING CAPITAL LLC

	 
	 	 	 	 
	
 

	
By: 

	/s/ Subha Pasumarti	 
	 	Name:	Subha Pasumarti	 
	 	Title:	Director	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
ING Investment Management CLO I, LTD.

	 
	 	By: ING Investment Management Co. LLC, 	 
	 	      as its investment manager	 
	 	 	 
	 	ING Investment Management CLO II, LTD.	 
	 	By: ING Alternative Asset Management LLC, 	 
	 	      as its investment manager	 
	 	 	 
	 	ING Investment Management CLO III, LTD.	 
	 	By: ING Alternative Asset Management LLC, 	 
	 	      as its investment manager	 
	 	 	 
	 	ING Investment Management CLO IV, LTD.	 
	 	By: ING Alternative Asset Management LLC, 	 
	 	      as its investment manager	 
	 	 	 
	 	Phoenix CLO II, LTD.	 
	 	By: ING Alternative Asset Management LLC, 	 
	 	      as its investment manager	 
	 	 	 
	 	Phoenix CLO II, LTD.	 
	 	By: ING Alternative Asset Management LLC, 	 
	 	      as its investment manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Kelly T. Byrne	 
	 	Name:	Kelly T. Byrne	 
	 	Title:	Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LCM II LIMITED PARTNERSHIP

	 
	 	By: LCM Asset Management LLC 	 
	 	       As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Alexander B. Kenna	 
	 	Name:	LCM Asset Management LLC	 
	 	 	Alexander B. Kenna	 
	 	Title:	 	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LCM III, Ltd.

	 
	 	By: LCM Asset Management LLC 	 
	 	       As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Alexander B. Kenna	 
	 	Name:	LCM Asset Management LLC	 
	 	 	Alexander B. Kenna	 
	 	Title:	 	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LCM IV, Ltd.

	 
	 	By: LCM Asset Management LLC 	 
	 	       As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Alexander B. Kenna	 
	 	Name:	LCM Asset Management LLC	 
	 	 	Alexander B. Kenna	 
	 	Title:	 	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LCM IX Limited Partnership

	 
	 	By: LCM Asset Management LLC 	 
	 	       As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Alexander B. Kenna	 
	 	Name:	LCM Asset Management LLC	 
	 	 	Alexander B. Kenna	 
	 	Title:	 	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LCM V, Ltd.

	 
	 	By: LCM Asset Management LLC 	 
	 	       As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Alexander B. Kenna	 
	 	Name:	LCM Asset Management LLC	 
	 	 	Alexander B. Kenna	 
	 	Title:	 	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LCM VI, Ltd.

	 
	 	By: LCM Asset Management LLC 	 
	 	       As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Alexander B. Kenna	 
	 	Name:	LCM Asset Management LLC	 
	 	 	Alexander B. Kenna	 
	 	Title:	 	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LCM VIII Limited Partnership

	 
	 	By: LCM Asset Management LLC 	 
	 	       As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Alexander B. Kenna	 
	 	Name:	LCM Asset Management LLC	 
	 	 	Alexander B. Kenna	 
	 	Title:	 	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Liberty CLO, Ltd.

	 
	 	By: Highland Capital Management L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LOAN FUNDING IV LLC

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
LOAN FUNDING VII LLC

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	Madison Park Funding I, Ltd.	 
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[INSERT LENDER NAME]

	 
	 	 	 
	 	Madison Park Funding III, Ltd.	 
	 	By: Credit Suisse Asset Management, LLC, as collateral manager
	 	 	 	 
	
 

	
By: 

	/s/ David H. Lerner	 
	 	Name:	David H. Lerner	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[Mill Creek CLO, Ltd]

	 
	 	 	 	 
	
 

	
By: 

	/s/ Bryan Higgins	 
	 	Name:	Bryan Higgins	 
	 	Title:	Authorized Signor	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Race Point III CLO

	 
	 	By: Sankaty Advisors, LLC as Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Andrew S. Viens	 
	 	Name:	Andrew S. Viens	 
	 	Title:	Sr. Vice President of Operations	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Race Point IV CLO, Ltd.

	 
	 	By: Sankaty Advisors, LLC as Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Andrew S. Viens	 
	 	Name:	Andrew S. Viens	 
	 	Title:	Sr. Vice President of Operations	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Race Point V CLO, Limited

	 
	 	By: Sankaty Advisors, LLC         Its Asset Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Andrew S. Viens	 
	 	Name:	Andrew S. Viens	 
	 	Title:	Sr. Vice President of Operations	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Red River CLO, Ltd

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Rockwall CDO LTD

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Southfork CLO, Ltd.

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
State Bank of India

	 
	 	 	 	 
	
 

	
By: 

	/s/ Raghavan Sriraman	 
	 	Name:	Raghavan Sriraman	 
	 	Title:	Vice President & Head (Syndications)	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
[Sugar Creek CLO, Ltd]

	 
	 	 	 	 
	
 

	
By: 

	/s/ Bryan Higgins	 
	 	Name:	Bryan Higgins	 
	 	Title:	Authorized Signor	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Veritas CLO I, LTD.

	 
	 	By: Alcentra NY, LLC, as investment advisor	 
	 	 	 	 
	
 

	
By: 

	/s/ Robert Davis	 
	 	Name:	Robert Davis	 
	 	Title:	Senior Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
VITESSE CLO LTD.

	 
	 	By: TCW-WLA JV Venture LLC, its sub-adviser	 
	 	 	 	 
	
 

	
By: 

	/s/ Meric Topbas	 
	 	Name:	Meric Topbas	 
	 	Title:	Vice President	 

 

	
 

	
By: 

	/s/ G. Wayne Hosang	 
	 	Name:	G. Wayne Hosang	 
	 	Title:	Senior Vice President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
WebBank

	 
	 	 	 	 
	
 

	
By: 

	/s/ Kelly M. Barnett	 
	 	Name:	Kelly M. Barnett	 
	 	Title:	President	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Well Fargo Principal Investments LLC

	 
	 	 	 	 
	
 

	
By: 

	/s/ Sanjas Ray	 
	 	Name:	Sanjas Ray	 
	 	Title:	Director	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

	 	
Westchester CLO, Ltd.

	 
	 	By: Highland Capital Management, L.P., As Collateral Manager	 
	 	 	 	 
	
 

	
By: 

	/s/ Carter Chism	 
	 	Name:	Carter Chism	 
	 	Title:	Authorized Signatory	 
	 	 	 	 

 

 

Signature Page to Amendment No. 7 to Credit Agreement

  

 

  

 

EXHIBIT D

 

FORM OF COMPLIANCE CERTIFICATE

 

 

Exhibit D to Credit Agreement

  

 

  

 

EXHIBIT D

 

FORM OF COMPLIANCE CERTIFICATE

 

 

 

Financial Statement Date:                                                                          ,

 

To:           Bank of America, N.A., as Administrative Agent

 

Ladies and Gentlemen:

 

Reference is made to that certain Credit Agreement, dated as of July 3, 2006 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the "Agreement;" the terms defined therein being used herein as therein defined), among Helix Energy Solutions Group, Inc., a Minnesota corporation (the "Borrower"), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender.

 

The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the                                                                        of the Borrower, and that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower, and that:

 

[Use following paragraph 1 for fiscal year-end financial statements]

 

Attached hereto as Schedule 1 are the year-end audited financial statements required by Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as of the above date, together with the report and opinion of an independent certified public accountant required by such section.

 

[Use following paragraph 1 for fiscal quarter-end financial statements]

 

Attached hereto as Schedule 1 are the unaudited financial statements required by Section 6.01(b) of the Agreement for the fiscal quarter of the Borrower ended as of the above date.  Such financial statements fairly present the financial condition, results of operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such date and for such period, subject only to normal year-end audit adjustments and the absence of footnotes.

 

The undersigned is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision, a review of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered by the attached financial statements with a view to determine whether during such fiscal period the Borrower performed and observed all its Obligations under the Loan Documents, and

 

[select one:]

 

[to the best knowledge of the undersigned during such fiscal period, the Borrower performed and observed each covenant and condition of the Loan Documents applicable to it, and no Default has occurred and is continuing.]

 

 

Exhibit D to Amendment No. 7 to Credit Agreement

  

 

-1-

  

 

--or--

 

[to the best knowledge of the undersigned during such fiscal period, the following covenants or conditions have not been performed or observed and the following is a list of each such Default and its nature and status:]

 

The representations and warranties of the Borrower contained in Article V of the Agreement, and any representations and warranties of the Borrower that are contained in any document furnished at any time under or in connection with the Loan Documents, are true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date, and except that for purposes of this Compliance Certificate, the representations and warranties contained in subsections (a), (b) and (c) of Section 5.05 of the Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b) respectively, of Section 6.01 of the Agreement, including the statements in connection with which this Compliance Certificate is delivered, or clause (f) of Section 6.02 of the Agreement, as applicable (but in each case, giving effect to any knowledge qualifies in such Sections with respect to Remington and its Subsidiaries only for periods ending prior to the Closing Date, and only for so long as and to the extent that the information for such periods is included in the information provided pursuant to the applicable Section).

 

The financial covenant analyses and information set forth on Schedules 2 and 3 attached hereto are true and accurate on and as of the date of this Certificate.

 

IN WITNESS WHEREOF, the undersigned has executed this Certificate as

 

of                               ,                     .

 

	 	HELIX ENERGY SOLUTIONS GROUP, INC.	 
	 	 	 	 
	
 

	
By: 

	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 

 

 

Exhibit D to Amendment No. 7 to Credit Agreement

  

 

-2-

  

 

         For the Quarter/Year ended ___________________("Statement Date")

 

SCHEDULE 2

 

to the Compliance Certificate

($ in 000's)

 

	
I.  

	
Section 7.11(a) – Consolidated Interest Coverage Ratio.

 

	A.      	Consolidated EBITDA for four consecutive fiscal	 	 	 	 
	 	quarters ending on above date ("Subject Period")	 	 	 	 
	 	as set forth on Schedule 3 hereto:	 	$	 	 
	 	 	 	 	 	 
	B.      	Consolidated EBITDA for Subject Period attributable	 	 	 	 
	 	to Excluded Foreign Subsidiary Assets:	 	$	 	 
	 	 	 	 	 	 
	 C.       	Consolidated Interest Charges for Subject Period:	 	$	 	 
	 	 	 	 	 	 
	 D.       	Consolidated Interest Charges for Subject Period	 	 	 	 
	 	attributable to Indebtedness relating to Excluded	 	 	 	 
	 	Foreign Subsidiary Assets:	 	$	 	 
	 	 	 	 	 	 
	 E.       	Consolidated Interest Coverage Ratio	 	 	 	 
	 	((Line I.A – Line I.B.) ÷ (Line I.C – Line I.D)):	 	 	 	 to 1.00	 
	 	 	 	 	 	 
	 	Minimum required:	 	 	2.75 to 1.00	 

 

	
II.  

	
Section 7.11(b) – Consolidated Leverage Ratio.

 

	A.      	Consolidated Funded Indebtedness at	 	 	 	 
	 	Statement Date:	 	$	 	 
	 	 	 	 	 	 
	B.      	Any Indebtedness of Foreign Subsidaries incurred	 	 	 	 
	 	under Section 7.03(o) of the Agreement and secured	 	 	 	 
	 	by any Excluded Foreign Subsidiary Assets (or	 	 	 	 
	 	negative pledge thereon):	 	$	 	 
	 	 	 	 	 	 
	C.      	Consolidated EBITDA for Subject Period	 	 	 	 
	   	(Line I.A above):	 	$	 	 
	 	 	 	 	 	 
	 D.       	Consolidated EBITDA for Subject Period attributable	 	 	 	 
	 	to Excluded Foreign Subsidiary Assets:	 	$	 	 
	 	 	 	 	 	 
	 E.       	+/- adjustments to EBITDA for	 	 	 	 
	 	
Acquisitions/Dispositions1:

	 	$	 	 

 

                     

 

                 1 Excluding Acquisitions/Dispositions of Excluded Foreign Subsidiary Assets.

 

 

Exhibit D to Amendment No. 7 to Credit Agreement

  

 

-3-

  

 

	 F.       	Consolidated Leverage Ratio	 	 	 	 
	 	(Line II.A – Line II.B) ÷	 	 	 	 
	 	(Line II.C – Line II.D +/- Line II.E):	 	 	 	 to 1.00	 
	 	 	 	 	 	 
	 	Maximum permitted:	 	 	4.00 to 1.00	 

 

	
III.  

	
Section 7.11(c) – Collateral Coverage Ratio.

 

 

	A.      	Collateral/Asset value at Statement Date:	 	 	 	 
	 	 	 	 	 	 
	 	1.	Net present value of proved reserves	 	 	 	 
	 	 	as set forth on Schedule 4 hereto:	 	$	 	 
	 	 	 	 	 	 	 
	 	2.	Appraised value of vessels, ROVs, and	 	 	 	 
	 	 	trenchers (including New Dive assets	 	 	 	 
	 	 	prior to IPO only):	 	$	 	 
	 	 	 	 	 	 	 
	 	3.	Net book value of equipment and inventory:	 	$	 	 
	 	 	 	 	 	 	 
	 	4.	Net book value of accounts receivable:	 	$	 	 
	 	 	 	 	 	 	 
	 	5.	Unrestricted cash and marketable securities:	 	$	 	 
	 	 	 	 	 	 	 
	 	6.	Closing trading price of New Dive Equity	 	 	 	 
	 	 	Interests (post-IPO only):	 	$	 	 
	 	 	 	 	 	 	 
	 	7.	Collateral/Asset value (Line IV.A.1 +	 	 	 	 
	 	 	(Line IV.A.2 * 0.50) + (Line IV.A.3 * 0.50)	 	 	 	 
	 	 	+ (Line IV.A.4 * 0.85) + (Line IV.A.5 * 0.90)	 	 	 	 
	 	 	+ (Line IV.A.6 * 0.60)):	 	$	 	 
	 	 	 	 	 	 
	 B.       	Total Outstandings at Statement Date:	 	$	 	 
	 	 	 	 	 	 
	 C.       	Collateral Coverage Ratio	 	 	 	 
	 	(Line IV.A.7 ÷ Line IV.B):	 	 	 	 to 1.00	 
	 	 	 	 	 	 
	 	Minimum permitted:	 	 	1.75 to 1.00	 

 

	
IV.  

	
Section 7.11(d) – Consolidated Senior Secured Leverage Ratio.

 

 

	A.      	Consolidated Funded Senior Secured Indebtedness	 	 	 	 
	 	at Statement Date:	 	$	 	 
	 	 	 	 	 	 
	B.      	Any Indebtedness of Foreign Subsidiaries incurred	 	 	 	 
	 	under Section 7.03(o) of the Agreement and secured	 	 	 	 
	 	by any Excluded Foreign Subsidiary Assets (or	 	 	 	 
	 	negative pledge thereon):	 	$	 	 

 

 

Exhibit D to Amendment No. 7 to Credit Agreement

  

 

-4-

  

 

	 C.       	Consolidated EBITDA for Subject Period	 	 	 	 
	 	(Line I.A above):	 	$	 	 
	 	 	 	 	 	 
	 D.       	Consolidated EBITDA for Subject Period attributable	 	 	 	 
	 	to Excluded Foreign Subsidiary Assets:	 	$	 	 
	 	 	 	 	 	 
	 E.       	+/- adjustments to EBITDA for	 	 	 	 
	 	Acquisitions/Dispositions2:	 	$	 	 
	 	 	 	 	 	 
	 F.       	Consolidated Senior Secured Leverage Ratio	 	 	 	 
	 	(Line IV.A – Line IV.B) ÷	 	 	 	 
	 	(Line IV.C – Line IV.D +/- Line IV.E):	 	 	 	 to 1.00	 
	 	 	 	 	 	 
	 	Maximum permitted:	 	 	2.00 to 1.00	 

 

	
V.  

	
Section 7.12 – Capital Expenditures.

 

	 	 	 	 Oil and Gas Properties	 	Other 	 
	 	 	 	 	 	 	 	 	 
	A.      	Capital Expenditures made during fiscal	 	 	 	 	 	 	 
	 	year to date:	 	$	 	 	$	 	 
	 	 	 	 	 	 	 	 	 
	 B.       	Maximum permitted Capital Expenditures	 	 	 	 	 	 	 
	 	for such fiscal year:	 	$	 400,000,000	 	$	300,000,000 	 
	 	 	 	 	 	 	 	 	 
	 C.       	Amount carried over from prior year:	 	$	 	 	$	 	 
	 	 	 	 	 	 	 	 	 
	 D.       	Amount transferred to/from	 	 	 	 	 	 	 
	 	applicable category:	 	$	 	 	$	 	 
	 	 	 	 	 	 	 	 	 
	 E.       	Excess (deficit) for covenant compliance	 	 	 	 	 	 	 
	 	((Line IV.B +Line IV.C +/- Line IV.D)	 	 	 	 	 	 	 
	 	– IV.A):	 	$	 	 	$	 	 

 

                     

 

                 2 Excluding Acquisitions/Dispositions of Excluded Foreign Subsidiary Assets.

 

 

Exhibit D to Amendment No. 7 to Credit Agreement

  

 

-5-

  

 

                                           For the Quarter/Year ended ___________________("Statement Date")

 

SCHEDULE 3

 

to the Compliance Certificate

($ in 000's)

 

Consolidated EBITDA

(in accordance with the definition of Consolidated EBITDA

as set forth in the Agreement)

 

	
 Consolidated

 EBITDA

 

 

 

 

	
 

Quarter

Ended

__________

	
 

Quarter

Ended

__________

	
 

Quarter

Ended

__________

	
 

Quarter

Ended

__________

	
Twelve

Months

Ended

__________

	
 Consolidated

 Net Income

 

	  	  	  	  	  
	
 + Consolidated Interest Charges

 

	  	  	  	  	  
	
 + income taxes

 

	  	  	  	  	  
	
 + depreciation expense

 

	  	  	  	  	  
	
 + amortization expense

 

	  	  	  	  	  
	
 + depletion expense

 

	  	  	  	  	  
	
 + non-recurring non-cash charges or losses

 

	  	  	  	  	  
	
 + non-capitalized transaction costs of Transaction

 

	  	  	  	  	  
	
 - non-recurring non-cash items

 

	  	  	  	  	  
	
 - net income from non Subsidiaries (to extent included in Consolidated Net Income)

 

	  	  	  	  	  

 

 

Exhibit D to Amendment No. 7 to Credit Agreement

  

 

-6-

  

 

	
 Consolidated

 EBITDA

 

 

 

 

	
 

Quarter

Ended

__________

	
 

Quarter

Ended

__________

	
 

Quarter

Ended

__________

	
 

Quarter

Ended

__________

	
Twelve

Months

Ended

__________

	
 + cash dividends and distributions from non Subsidiaries

 

	  	  	  	  	  
	
 +/- adjustments to EBITDA for non Wholly Owned Subsidiaries

 

	  	  	  	  	  
	
 = Consolidated EBITDA

 

	  	  	  	  	  

 

 

Exhibit D to Amendment No. 7 to Credit Agreement

  

 

-7-

  

 

                                           For the Quarter/Year ended ___________________("Statement Date")

 

SCHEDULE 4

 

to the Compliance Certificate

($ in 000's)

 

Net Present Value of Proved Reserves

(in accordance with the definition of Collateral

Coverage Ratio as set forth in the Agreement)

 

 

Exhibit D to Amendment No. 7 to Credit Agreement

  

 

-8-chk10012012_41.htm

Exhibit 4.1

THIRD AMENDMENT TO

EIGHTH AMENDED AND RESTATED CREDIT AGREEMENT

THIS THIRD AMENDMENT TO EIGHTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is dated as of September 25, 2012 (but effective on the Effective Date, defined below) by and among Chesapeake Energy Corporation (the “Company”), Chesapeake Exploration, L.L.C. (the “Borrower”), Union Bank, N.A., as Administrative Agent (“Agent”), and the Lenders parties hereto.

 

W I T N E S S E T H:

 

WHEREAS, the Borrower, the Company, Agent and the Lenders entered into that certain Eighth Amended and Restated Credit Agreement dated as of December 2, 2010 (as amended or supplemented from time to time prior to the date hereof, the “Original Agreement”), for the purpose and consideration therein expressed, whereby the Lenders became obligated to make loans and extend credit to the Borrower as therein provided;

WHEREAS, the Borrower, the Company, Agent and Majority Lenders desire to amend the Original Agreement as set forth herein;

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and in the Original Agreement, in consideration of the loans and other credit which may hereafter be made by the Lenders to the Borrower, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows:

 

ARTICLE I.

 

DEFINITIONS AND REFERENCES

 

Section 1.1. Terms Defined in the Original Agreement.  Unless the context otherwise requires or unless otherwise expressly defined herein, the terms defined in the Original Agreement shall have the same meanings whenever used in this Amendment.

 

Section 1.2. Other Defined Terms.  Unless the context otherwise requires, the following terms when used in this Amendment shall have the meanings assigned to them in this Section 1.2.

 

 “Amendment Documents” means this Amendment, the Consent and Agreement of the Guarantors relating to this Amendment, and all other documents or instruments delivered in connection herewith or therewith.

 

“Credit Agreement” means the Original Agreement as amended hereby.

 

  

  

 

  

 

ARTICLE II.

 

AMENDMENT TO ORIGINAL AGREEMENT

 

Section 2.1. Definitions.

 

(a) Effective on the Effective Date as defined herein, the following definitions are hereby added to Section 1.1 of the Original Agreement in correct alphabetical order to read as follows:

 

“Amendment Effective Period” means the period beginning as of September 30, 2012 and ending as of (but not including) the earlier to occur of (a) December 31, 2013 and (b) the date upon which the Borrower delivers an irrevocable notice to Administrative Agent of its election to terminate the Amendment Effective Period.

“Maximum Leverage Ratio” means (a) 4.0 to 1.0, except during the Amendment Effective Period, and (b) so long as the Amendment Effective Period is in effect, 6.00 to 1.00 as of September 30, 2012, reducing effective as of each following date to the ratio corresponding to such date:

	
December 31, 2012

	
5.00 to 1.00

	
March 31, 2013

	
4.75 to 1.00

	
June 30, 2013

	
4.50 to 1.00

	
September 30, 2013

	
4.25 to 1.00

“Utilization Percentage” means, as of any day, the fraction expressed as a percentage, the numerator of which is Total Revolving Extensions of Credit on such day, and the denominator of which is the lesser of (a) the Borrowing Base in effect on such day and (b) the Total Revolving Commitments in effect on such day.

(b) Effective on the Effective Date as defined herein, the definition of “Applicable Margin” in Section 1.1 of the Original Agreement is hereby amended by adding the following sentence to the end thereof:

 

Further, on any day during the Amendment Effective Period that the Utilization Percentage exceeds 50%, each rate per annum set forth above as the Applicable Margin, whether for Base Rate Loans or Eurodollar Loans, shall be increased by 0.25%.

Section 2.2. Fees. Effective on the Effective Date as defined herein, Section 2.3 of the Original Agreement is hereby amended by adding the following Section 2.3(c):

 

(c)  In the event that the Amendment Effective Period is in effect on June 30, 2013, on such day the Borrower will pay to the Administrative Agent, for the account of each Lender, a fee of 0.05% of such Lender’s Revolving Commitment in effect on such day.

 

  

  

 

  

 

Section 2.3. Swing Line. Effective on the Effective Date as defined herein, Section 2.17(i) of the Original Agreement is hereby amended to change the phrase “fifteen Business Days” to “ten Business Days”.

 

Section 2.4. Collateral Value. Effective on the Effective Date as defined herein, Section 2.14 of the Original Agreement is hereby amended by adding the following Section 2.14(k) to read as follows:

 

(k) Notwithstanding any other provision of this Agreement to the contrary, during the Amendment Effective Period, the Borrower shall not at any time permit, whether in connection with any determination of the Collateral Value, or any substitution or any release of Collateral or otherwise, the Collateral Value to be more than seventy-five million dollars ($75,000,000.00) below the Collateral Value that is in effect as of September 30, 2012.

Section 2.5. Consolidated Indebtedness to Consolidated EBITDA Ratio.  Effective on the Effective Date as defined herein, Section 7.1(b) of the Original Agreement is hereby amended to change the phrase “4.0 to 1.0” to “the Maximum Leverage Ratio”.

 

ARTICLE III.

 

CONDITIONS OF EFFECTIVENESS

 

Section 3.1. Conditions to Effectiveness of Amendment.  This Amendment shall become effective as of September 30, 2012 if and only if prior to such date the Agent shall have received executed counterparts of this Amendment from the Majority Lenders and the following conditions precedent have been satisfied (September 30, 2012, if such conditions are so satisfied herein called the “Effective Date”):

 

(a) The Agent’s receipt of the following, each of which shall be originals or telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party and each in form and substance satisfactory to the Agent and in such number of counterparts as may be requested by the Agent:

      

          (i) counterparts of the Amendment Documents executed by the applicable Loan Parties.

 

          (ii) a certificate on behalf of each applicable Loan Party certifying that none of the resolutions, incumbency certificates, Organization Documents and/or certificates of Responsible Officers of each Loan Party as the Agent has previously required evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with the Loan Documents to which such Loan Party is a party have been amended or are otherwise inaccurate since they were delivered and certifying resolutions authorizing this Amendment.

 

  

  

 

  

 

          (iii) such other documents or certificates as the Agent shall reasonably request.

 

(b) Any fees required to be paid to the Agent or any Lender on or before the Effective Date shall have been paid.

 

(c) Unless waived by the Agent, the Borrower shall have paid all fees, charges and disbursements of counsel to the Agent to the extent invoiced prior to or on the Effective Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Agent).

 

ARTICLE IV.

 

REPRESENTATIONS, WARRANTIES AND COVENANTS

 

Section 4.1. Representations and Warranties.  In order to induce each Lender party hereto to enter into this Amendment, each of the Borrower and the Company hereby certify that the representations and warranties made by it contained in Article 4 of the Original Agreement or in any other Loan Document are true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date, and agrees to execute, or cause to be executed, such other instruments or further amendments to Loan Documents as the Agent may reasonably request from time to time to give further effect to this Amendment.

 

ARTICLE V.

 

MISCELLANEOUS

 

Section 5.1. Ratification of Agreements.  The Original Agreement as hereby amended is hereby ratified and confirmed in all respects.  The other Loan Documents, as they may be amended or affected by the various Amendment Documents, are hereby ratified and confirmed in all respects.  Any reference to the Credit Agreement in any Loan Document shall be deemed to be a reference to the Original Agreement as hereby amended.  The execution, delivery and effectiveness of this Amendment and the other Amendment Documents shall not, except as expressly provided herein or therein, operate as a waiver of any right, power or remedy of the Agent or the Lenders under the Credit Agreement, or any other Loan Document nor constitute a waiver of any provision of the Credit Agreement, or any other Loan Document.

 

Section 5.2. Survival of Agreements.  All representations, warranties, covenants and agreements of any Loan Party herein shall survive the execution and delivery of this Amendment and the performance hereof, and shall further survive until all of the Obligations are paid in full.  All statements and agreements contained in any certificate or instrument delivered by any Loan Party hereunder or under the Credit Agreement to the Agent or any Lender shall be deemed to constitute representations and warranties by, or agreements and covenants of such Loan Party under this Amendment and under the Credit Agreement.

 

  

  

 

  

 

Section 5.3. Loan Documents.  This Amendment is and the other Amendment Documents are each a Loan Document, and all provisions in the Credit Agreement pertaining to Loan Documents apply hereto and thereto.

 

Section 5.4. Governing Law.  This Amendment shall be governed by and construed in accordance with the Laws applicable to the Original Agreement.

 

Section 5.5. Counterparts; Fax.  This Amendment may be separately executed in counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same Amendment.  This Amendment and the other Amendment Documents may be validly executed by facsimile or other electronic transmission.

 

THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.

 

[The remainder of this page has been intentionally left blank.]

 

  

  

 

  

IN WITNESS WHEREOF, this Amendment is executed as of the date first above written.

 

	 	 	 
	 	CHESAPEAKE ENERGY CORPORATION	 
	 	CHESAPEAKE EXPLORATION, L.L.C.
	 	 	 	 
	 	 	 	 
	 	
By: 

	/s/ JENNIFER M. GRIGSBY	 
	 	 	
Name: Jennifer M. Grigsby

	 
	 	 	
Title: Treasurer and Senior Vice President

	 
	 	 	 	 

 

 

  

  

 

  

 

	  	  	  
	  	
UNION BANK, N.A., as Administrative Agent, as Swing Line Lender, as an Issuing Lender and as a Lender

	  
	  	  	 	  
	  	  	  	  
	  	  	  	  
	  	
By: 

	/s/ ZACHARY HOLLY	  
	  	  	Name: Zachary Holly	  
	  	  	
Title: Vice President

	  
	  	  	  	  

 

 

 

  

  

 

  

 

 

	  	  	  
	  	
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ SHERWIN BRANDFORD	  
	  	  	Name: Sherwin Brandford	  
	  	  	Title: Vice President	  
	  	  	  	  

 

 

  

  

 

  

 

 

	  	  	  
	  	
WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Co-Syndication Agent, as an Issuing Lender and as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ SHANNAN TOWNSEND	  
	  	  	Name: Shannan Townsend	  
	  	  	Title: Managing Director	  

 

  

  

 

  

 

 

	  	  	  
	  	
THE ROYAL BANK OF SCOTLAND plc, as a Co-Syndication Agent, as an Issuing Lender and as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ SANJAY REMOND	  
	  	  	Name: Sanjay Remond	  
	  	  	Title: Authorised Signatory	  

  

  

 

  

 

 

	  	  	  
	  	
BNP PARIBAS, as a Co-Syndication Agent, as an Issuing Lender and as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ DAVID DODD	  
	  	  	Name: David Dodd	  
	  	  	Title: Managing Director	  
	 	 	 	 
	 	By:	/s/ SRIRAM CHANDRASEKARAN	 
	 	 	Name: Sriram Chandrasekaran	 
	 	 	Title: Vice President	 

 

  

  

 

  

 

 

	  	  	  
	  	
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Documentation Agent, as an Issuing Lender and as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ DARRELL STANLEY	  
	  	  	Name: Darrell Stanley	  
	  	  	Title: Managing Director	  
	 	 	 	 
	 	By:	/s/ MICHAEL WILLIS	 
	 	 	Name: Michael Willis	 
	 	 	Title: Managing Director	 

  

  

 

  

 

 

	  	  	  
	  	
BANK OF AMERICA, N.A., as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ RONALD E. MCKAIG	  
	  	  	Name: Ronald E. McKaig	  
	  	  	Title: Managing Director	  

  

  

 

  

 

 

	  	  	  
	  	
CITIBANK, N.A., as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ PHIL BALLARD	  
	  	  	Name: Phil Ballard	  
	  	  	Title: Vice President	  

 

 

  

  

 

  

 

 

	  	  	  
	  	
DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ COURTNEY E. MEEHAN	  
	  	  	Name: Courtney E. Meehan	  
	  	  	Title: Vice President	  
	 	 	 	 
	 	By:	/s/ MARCUS M. TARKINGTON	 
	 	 	Name: Marcus M. Trakingon	 
	 	 	Title: Director	 

  

  

 

  

 

 

	  	  	  
	  	
DNB BANK ASA, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ THOMAS TANGEN	  
	  	  	Name: Thomas Tangen	  
	  	  	Title: Senior Vice President Head of Corporate Banking	  
	 	 	 	 
	 	By:	/s/ PAL BOGER	 
	 	 	Name: Pal Boger	 
	 	 	Title: Vice President	 

  

  

 

  

 

 

	  	  	  
	  	
GOLDMAN SACHS BANK USA, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ ASHWIN RAMAKRISHNA	  
	  	  	Name: Ashwin Ramakrishna	  
	  	  	Title: Authorized Signatory	  
	  	  	  	  

 

 

  

  

 

  

 

 

	  	  	  
	  	
MIZUHO CORPORATE BANK, LTD., as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ LEON MO	  
	  	  	Name: Leon Mo	  
	  	  	Title: Authorized Signatory	  
	  	  	  	  

 

 

  

  

 

  

 

 

	  	  	  
	  	
MORGAN STANLEY BANK, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ SCOTT TAYLOR	  
	  	  	Name: Scott Taylor	  
	  	  	Title: Authorized Signatory	  
	  	  	  	  

 

 

  

  

 

  

 

 

	  	  	  
	  	
NATIXIS, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ LOUIS P. LAVILLE, III	  
	  	  	Name: Louis P. Laville, III	  
	  	  	Title: Managing Director	  
	 	 	 	 
	 	By:	/s/ MARY LOU ALLEN	 
	 	 	Name: Mary Lou Allen	 
	 	 	Title: Director	 

  

  

 

  

 

 

	  	  	  
	  	
THE BANK OF NOVA SCOTIA, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ TERRY DONOVAN	  
	  	  	Name: Terry Donovan	  
	  	  	Title: Managing Director	  

 

  

  

 

  

 

 

	  	  	  
	  	
UBS AG, STAMFORD BRANCH, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ IRJA R. OTSA	  
	  	  	Name: Irja R. Otsa	  
	 	 	Title: Associate Director	 
	 	 	 	 
	 	By:	/s/ DAVID URBAN	 
	 	 	Name: David Urban	 
	  	  	Title: Associate Director	  

  

  

 

  

 

 

	  	  	  
	  	
BARCLAYS BANK PLC, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ SREEDHAR R. KONA	  
	  	  	Name: Sreedhar R. Kona	  
	  	  	Title: Assistant Vice President	  

  

  

 

  

 

 

	  	  	  
	  	
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ MIKHAIL FAYBUSOVICH	  
	  	  	Name: Mikhail Faybusovich	  
	  	  	Title: Director	  
	 	 	 	 
	 	By:	/s/ MICHAEL SPAIGHT	 
	 	 	Name: Michael Spaight	 
	 	 	Title: Associate	 

  

  

 

  

 

 

	  	  	  
	  	
COMPASS BANK, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ KATHLEEN J. BOWEN	  
	  	  	Name: Kathleen J. Bowen	  
	  	  	Title: Senior Vice President	  

  

  

 

  

 

 

	  	  	  
	  	
TORONTO DOMINION (NEW YORK) LLC, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ DEBBI L. BRITO	  
	  	  	Name: Debbi L. Brito	  
	  	  	Title: Authorized Signatory	  

  

  

 

  

 

 

	  	  	  
	  	
COMERICA BANK, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ JOHN S. LESIKAR	  
	  	  	Name: John S. Lesikar	  
	  	  	Title: Vice President	  

  

  

 

  

 

 

	  	  	  
	  	
EXPORT DEVELOPMENT CANADA, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ RICHARD LEONG	  
	  	  	Name: Richard Leong	  
	  	  	Title: Asset Manager	  
	 	 	 	 
	 	By:	/s/ TALAL M. KAIROUZ	 
	 	 	Name: Talal M. Kairouz	 
	 	 	Title: Senior Asset Manager	 

  

  

 

  

 

 

	  	  	  
	  	
BANK OF SCOTLAND plc, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ STEPHEN GIACOLONE	  
	  	  	Name: Stephen Giacolone	  
	  	  	Title: Assistant Vice President	  

  

  

 

  

 

 

	  	  	  
	  	
MACQUARIE BANK, LTD., as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ STEPHEN BOWER	  
	  	  	Name: Stephen Bower	  
	  	  	Title: Associate Director	  
	 	 	 	 
	 	By:	/s/ ANDREW MCGRATH	 
	 	 	Name: Andrew McGrath	 
	 	 	Title: Executive Director	 

  

  

 

  

 

 

	  	  	  
	  	
NOMURA INTERNATIONAL PLC., as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ ANJA MAHON	  
	  	  	Name: Anja Mahon	  
	  	  	Title: Executive Director	  

  

  

 

  

 

 

	  	  	  
	  	
SUMITOMO MITSUI BANKING CORPORATION, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ SHUJI YABE	  
	  	  	Name: Shuji Yabe	  
	  	  	Title: Managing Director	  

  

  

 

  

 

 

	  	  	  
	  	
MIDFIRST BANK, as a Lender

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	/s/ STEVE A. GRIFFIN	  
	  	  	
Name: Steve A. Griffin

	  
	  	  	Title: Senior Vice President	  

  

  

 

  

CONSENT AND AGREEMENT

 

By its execution below, each of the undersigned hereby (i) consents to the provisions of this Amendment and the transactions contemplated herein, (ii) ratifies and confirms the Sixth Amended and Restated Guarantee Agreement dated as of December 2, 2010 made by it for the benefit of Agent and Lenders (as modified by certain Assumption Agreements) and the other Loan Documents executed pursuant to the Credit Agreement (or any prior amendment or supplement to the Credit Agreement), (iii) agrees that all of its respective obligations and covenants thereunder shall remain unimpaired by the execution and delivery of this Amendment and the other documents and instruments executed in connection herewith, and (iv) agrees that the Sixth Amended and Restated Guarantee Agreement and such other Loan Documents shall remain in full force and effect.

 

 

 

	 	CHESAPEAKE ENERGY CORPORATION
	 	ARKANSAS MIDSTREAM GAS SERVICES CORP.
	 	CHESAPEAKE ENERGY LOUISIANA  CORPORATION
	 	CHESAPEAKE ENERGY MARKETING, INC.
	 	CHESAPEAKE E&P HOLDING CORPORATION
	 	CHESAPEAKE NG VENTURES CORPORATION
	 	
CHESAPEAKE OPERATING, INC., on behalf of itself and, as general partner of 

   CHESAPEAKE LOUISIANA, L.P

	 	CHK HOLDINGS CORPORATION
	 	WINTER MOON ENERGY CORPORATION
	 	

AMGS, L.L.C.

	 	CHESAPEAKE AEZ EXPLORATION, L.L.C.
	 	CHESAPEAKE APPALACHIA, L.L.C.
	 	CHESAPEAKE-CLEMENTS ACQUISITION, L.L.C.
	 	CHESAPEAKE LAND DEVELOPMENT COMPANY, L.L.C.
	 	CHESAPEAKE MIDSTREAM HOLDINGS, L.L.C.
	 	
CHESAPEAKE MIDSTREAM MANAGEMENT, L.L.C., on behalf of itself and, as general partner of 

   CHESAPEAKE MIDSTREAM DEVELOPMENT, L.P.

	 	CHESAPEAKE MIDSTREAM OPERATING, L.L.C.
	 	CHESAPEAKE PLAZA, L.L.C.
	 	CHESAPEAKE ROYALTY, L.L.C.
	 	CHESAPEAKE VRT, L.L.C.
	 	CHESAPEAKE WEST TEXAS GATHERING, L.L.C.
	 	CHESAPEAKE WEST TEXAS PROCESSING, L.L.C.
	 	
EMLP, L.L.C., on behalf of itself and as general partner of 

   EMPRESS LOUISIANA PROPERTIES, L.P.

 

  

  

 

  

 

 

	 	EMPRESS, L.L.C.
	 	GOTHIC PRODUCTION, L.L.C.
	 	JACKALOPE GAS GATHERING SERVICES, L.L.C.
	 	LOUISIANA MIDSTREAM GAS SERVICES, L.L.C.
	 	MC LOUISIANA MINERALS, L.L.C.
	 	MC MINERAL COMPANY, L.L.C.
	 	MID-AMERICA MIDSTREAM GAS SERVICES,   L.L.C.
	 	MID-ATLANTIC GAS SERVICES, L.L.C.
	 	MIDCON COMPRESSION, L.L.C.
	 	MKR HOLDINGS, L.L.C.
	 	MOCKINGBIRD MIDSTREAM GAS SERVICES, L.L.C.
	 	NORTHERN MICHIGAN EXPLORATION COMPANY, L.L.C.
	 	UTICA GAS SERVICES, L.L.C.
	 	VENTURA, LLC
	 	 
	 	 
	 	 
	By:	JENNIFER M. GRIGSBY
	 	 Jennifer M. Grigsby, Treasurer and Senior Vice President of the entities listed above

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