Document:

Exhibit 10.1

 

AMENDMENT NO.3 AND WAIVER TO CREDIT AGREEMENT

 

AMENDMENT NO.3 AND WAIVER, dated as of November 8, 2012 (this “Amendment and Waiver”), with respect to the Credit Agreement, dated as of August 26, 2011 (as same may be further amended, restated, supplemented or modified, the “Credit Agreement”), by and between GTJ REIT, INC., a Maryland corporation (the “Borrower”) and MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation (the “Bank”).

 

RECITALS

 

The Borrower has requested and the Bank has agreed, subject to the terms and conditions of this Amendment and Waiver, to amend, and waive compliance with, certain provisions of the Credit Agreement as herein set forth.

 

Accordingly, in consideration of the premises and of the mutual covenants and agreements hereinafter set forth, the parties hereto agree as follows:

 

1.   Amendment. Section 5(a) of the Credit Agreement is hereby amended and restated in its entirety to provide as follows:

 

The Borrower shall maintain Net Worth of not less than (a) $80,000,000, for the period from Closing Date through March 31, 2012, (b) $75,000,000, for the period from June 30, 2012 through September 30,2012 and (c) $70,000,000 on December 31, 2012 and at all times thereafter, measured quarterly as of each fiscal quarter end on a trailing four-quarter basis.

 

2.         Waiver. The Bank hereby waives compliance by the Borrower with Section 5(a) of the Credit Agreement for the fiscal quarter ended September 30, 2012 in order to permit the Net Worth to be less than $75,000,000 as of the end of such fiscal quarter provided that the actual Net Worth was not less than $72,310,000 as of the end of such fiscal quarter.

 

3.         Conditions of Effectiveness. This Amendment and Waiver shall become effective upon receipt by the Bank of this Amendment and Waiver, duly executed by the Borrower and the Guarantor, and (b) a waiver and amendment fee of $10,000.

 

4.         Conforming Amendments. The Credit Agreement, the Note and the other Transaction Documents shall each be deemed to be amended and supplemented hereby to the extent necessary, if any, to give effect to the provisions of this Amendment and Waiver. Except as so amended hereby, the Credit Agreement and the other Transaction Documents shall remain in full force and effect in accordance with their respective terms.

 

5.         Representations and Warranties. The Borrower hereby represents and warrants to the Bank as follows:

 

(a)        After giving effect to this Amendment and Waiver (i) each of the representations and covenants set forth in Section2 of the Credit Agreement are true and correct in all material respects on and as of the date hereof as of made on and as of the date of this Amendment and Waiver except to the extent such representations or warranties relate to an earlier date in which case they shall be true and correct in all material respects as of such earlier date, and (ii) no Default or Event of Default has occurred and is continuing as of the date hereof or shall result from after giving effect to this Amendment and Waiver.

 

(b)        The Borrower has the power to execute, deliver and perform this Amendment and Waiver and each of the other agreements, instruments and documents to be executed by it in connection with this Amendment and Waiver. No registration with or consent or approval of, or other action by, any Governmental Authority is required in connection with the execution, delivery and performance of this Amendment and Waiver and the other agreements, instruments and documents executed in connection with this Amendment and Waiver by the Borrower.

 

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(c)        The execution, delivery and performance by the Borrower and the Guarantor of this Amendment and Waiver and each of the other agreements, instruments, and documents to be executed by it in connection with this Amendment and Waiver (i) have been duly authorized by all requisite corporate and limited liability company action, (ii) will not violate (A) any provision of law applicable to the Borrower or the Guarantor, any rule or regulation of any Governmental Authority applicable to the Borrower or the Guarantor, or (B) the certificate of incorporation, articles of organization, bylaws, operating agreement or other organizational documents, as applicable, of the Borrower or of the Guarantor, or (C) any order of any court or other Governmental Authority binding on the Borrower or the Guarantor or any indenture, agreement or other instrument to which the Borrower or the Guarantor is a party, or by which the Borrower or the Guarantor or any of their respective properties are bound, and (iii) will not be in conflict with, result in a breach of or constitute (with due notice and/or lapse of time) a default under, any such indenture, agreement or other instrument, or result in the creation or imposition of any lien, of any nature whatsoever upon any of the property or assets of the Borrower or the Guarantor other than as contemplated by the Credit Agreement.

 

(d)        This Amendment and Waiver and each of the other agreements, instruments and documents executed in connection with this Amendment and Waiver to which the Borrower or the Guarantor are a party have been duly executed and delivered by the Borrower and the Guarantor, as the case may be, and constitutes a legal, valid and binding obligation of the Borrower and the Guarantor enforceable, as the case may be, in accordance with its terms, except to the extent that enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or other similar laws, now or hereafter in effect, relating to or affecting the enforcement of creditors’ rights generally and by equitable principles of general application, regardless of whether considered in a proceeding in equity or at law.

 

6.         Miscellaneous.

 

(a)        Capitalized terms used herein and not otherwise defined herein shall have the same meanings as defined in the Credit Agreement.

 

(b)        This Amendment and Waiver shall be deemed a Transaction Document.

 

(c)        Except as expressly amended and waived hereby, the Credit Agreement shall remain in full force and effect in accordance with the original terms thereof.

 

(d)        The amendments and waivers herein contained are limited specifically to the matters set forth above and do not constitute directly or by implication an amendment or a waiver of any other provision of Credit Agreement or a waiver of any Default or Event of Default which may occur or may have occurred under the Credit Agreement.

 

(e)        This Amendment and Waiver may be executed in one or more counterparts, each of which shall constitute an original, but all of which when taken together shall constitute but one Amendment and Waiver.

 

(f)        THIS AMENDMENT AND WAIVER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES.

 

7.         Reaffirmation. The Borrower hereby: (a) acknowledges and confirms that, notwithstanding the consummation of the transactions contemplated by this Amendment and Waiver, (i) all terms and provisions contained in the Credit Agreement and the other Transaction Documents are, and shall remain, in full force and effect in accordance with their respective terms and (ii) the liens heretofore granted, pledged and/or assigned to the Bank as security for the Borrower’s obligations under the Note, the Credit Agreement and the other Transaction Documents shall not be impaired, limited or affected in any manner whatsoever by reason of this Amendment and Waiver; (b) reaffirms and ratifies all the representations and covenants contained in Credit Agreement and the other Transaction Documents; and (c) represents, warrants and confirms the non-existence of any offsets, defenses, or counterclaims to its obligations under Credit Agreement and the other Transaction Documents.

 

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8.         Additional Covenant. In addition to the covenants set forth in the Credit Agreement and the other Transaction Documents, the Borrower agrees to reimburse the Bank, upon demand therefor, for the cost of an updated appraisal on the Guarantor’s premises, which appraisal shall be ordered and received by the Bank, within sixty (60) days of the date of this Amendment and Waiver.

 

[the next page is the signature page]

 

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IN WITNESS WHEREOF, the Borrower and the Bank have signed and delivered this Amendment and Waiver as of the date first written above.

 

	
 
    	
GTJ   REIT, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ David J. Oplanich
    	
 
    
	
 
    	
Name: David J. Oplanich
    
	
 
    	
Title:   Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
MANUFACTURERS   AND TRADERS TRUST COMPANY
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/  Lisa Congemi-Doutney
    	
 
    
	
 
    	
Name: Lisa   Congemi-Doutney
    
	
 
    	
Title:   Vice President
    

 

CONSENT AND REAFFIRMATION

 

The undersigned, not as a party to the Credit Agreement but as the guarantor (the “Guarantor”) under that certain Continuing Guaranty and the other Transaction Documents to which the Guarantor is a party, each executed in favor of the Bank and each dated as of August 26, 2011, hereby (a) accepts and agrees to the terms of the foregoing Amendment and Waiver, (b) acknowledges and confirms that all liens heretofore granted, pledged and/or assigned to the Bank as security for the obligations of the Borrower to the Bank shall not be impaired, limited or affected in any manner whatsoever by reason of this Amendment and Waiver, (c) reaffirms and ratifies all the representations, warranties and covenants contained in the Unlimited Guaranty and other Transaction Documents to which it is a party, and (d) represents, warrants and confirms the non-existence of any offsets, defenses, or counterclaims to the Guarantor’s obligations under such Unlimited Guaranty and any other Transaction Documents to which he is a party.

 

	
 
    	
FARM   SPRINGS ROAD, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ David J. Oplanich
    	
 
    
	
 
    	
Name: David J. Oplanich
    
	
 
    	
Title:   Chief Financial Officer
    

 

4Exhibit 10.1

 

SOVEREIGN BANK — LOAN NO. 17003864 (REVOLVING CREDIT FACILITY)

SOVEREIGN BANK — LOAN NO. 17022096 (TERM LOAN FACILITY — TRANCHE A)

SOVEREIGN BANK — LOAN NO. 17022914 (TERM LOAN FACILITY — TRANCHE B)

SOVEREIGN BANK — LOAN NO. 17025057 (TERM LOAN FACILITY — TRANCHE C)

SOVEREIGN BANK — LOAN NO. 17026550 (TERM LOAN FACILITY — TRANCHE D)

 

FOURTH AMENDMENT TO 
 AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 

THIS FOURTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) dated as of JANUARY 26, 2012 (the “Effective Date”),, is by and between SOVEREIGN BANK, a Texas state bank (together with its successors and assigns, “Lender”) and TGC INDUSTRIES, INC., a Texas corporation (“Debtor”).

 

RECITALS

 

WHEREAS,  Debtor and Lender entered into that certain AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT dated as of SEPTEMBER 16, 2009 (as amended, modified, and restated from time to time, the “Agreement”), pursuant to which Lender agreed to make certain credit facilities available to Debtor on the terms and conditions set forth therein; and

 

WHEREAS, the parties desire to amend the Agreement pursuant to the terms and conditions set forth herein;

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.             Defined Terms.  Capitalized terms used in this Amendment, to the extent not otherwise defined herein, shall have the same meanings as in the Agreement, as amended hereby.  Notwithstanding the foregoing, Section 1(n) of the Agreement is hereby amended in its entirety to read as follows:

 

(n)           “Note” means, individually and collectively, any promissory note evidencing all or part of the Indebtedness from time to time, as any such Note may be amended, modified or restated from time to time (including, but not limited to, (i) the AMENDED AND RESTATED PROMISSORY NOTE dated as of SEPTEMBER 16, 2009 in the principal amount of FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) executed by Debtor and payable to the order of Lender (as such promissory note may be amended, modified or restated from time to time, the “Revolving Credit Note”), (ii) the PROMISSORY NOTE dated as of SEPTEMBER 16, 2010 in the principal amount of ONE MILLION NINE HUNDRED EIGHTY-EIGHT THOUSAND NINE HUNDRED TEN AND NO/100 DOLLARS ($1,988,910.00) executed by Debtor and payable to the order of Lender (as such promissory note may be amended, modified or restated from time to time, the “Term Note — Tranche A”), (iii) the PROMISSORY NOTE dated as of DECEMBER 30, 2010 in the principal amount of TWO MILLION NINE HUNDRED EIGHTY-SIX THOUSAND TWO HUNDRED AND NO/100 DOLLARS ($2,986,200.00) executed by Debtor and payable to the order of Lender (as such promissory note may be amended, modified or restated from time to time, the “Term Note — Tranche B”), (iv) the PROMISSORY NOTE dated as of AUGUST 31, 2011 in the principal amount of SIX MILLION SEVEN HUNDRED SIXTY-FIVE THOUSAND SIX HUNDRED NINETEEN AND 22/100 DOLLARS ($6,765,619.22)  executed by Debtor and payable to the order of Lender (as such promissory note may be amended, modified or restated from time to time, the “Term Note — Tranche C”), and (v) the PROMISSORY NOTE dated as of JANUARY 26, 2012 in the principal amount of SEVEN MILLION SEVEN HUNDRED ONE THOUSAND EIGHT HUNDRED AND NO/100 DOLLARS ($7,701,800.00) executed by Debtor and payable to the order of Lender (as such promissory note may be amended, modified or restated from time to time, the “Term Note — Tranche D”)).

 

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2.             Amendment to Section 2(c) of Agreement.  Section 2(c) of the Agreement is hereby amended in its entirety to read as follows:

 

(c)           Term Loan Facilities.  Subject to the terms and conditions set forth in this Agreement and the other Loan Documents, (x) Lender hereby agrees to lend to Debtor in a single advance an aggregate sum not to exceed ONE MILLION NINE HUNDRED EIGHTY-EIGHT THOUSAND NINE HUNDRED TEN AND NO/100 DOLLARS ($1,988,910.00)  (the “Term Loan Facility — Tranche A”) on SEPTEMBER 16, 2010 and continuing until: (i) the acceleration of the Indebtedness pursuant to the terms of the Loan Documents; (ii) SEPTEMBER 16, 2013; or (iii) such other date as may be established by a written instrument between Debtor and Lender from time to time (the “Term  Maturity Date — Tranche A”), (y) Lender hereby agrees to lend to Debtor in a single advance an aggregate sum not to exceed TWO MILLION NINE HUNDRED EIGHTY-SIX THOUSAND TWO HUNDRED AND N0/100 DOLLARS ($2,986,200.00) (the “Term Loan Facility — Tranche B”) on DECEMBER 30, 2010 and continuing until: (i) the acceleration of the Indebtedness pursuant to the terms of the Loan Documents; (ii) DECEMBER 30, 2013; or (iii) such other date as may be established by a written instrument between Debtor and Lender from time to time (the “Term  Maturity Date — Tranche B”), (z) Lender hereby agrees to lend to Debtor in a single advance an aggregate sum not to exceed SIX MILLION SEVEN HUNDRED SIXTY-FIVE THOUSAND SIX HUNDRED NINETEEN AND 22/100 DOLLARS ($6,765,619.22)  (the “Term Loan Facility — Tranche C”) on  AUGUST 31, 2011  and continuing until: (i) the acceleration of the Indebtedness pursuant to the terms of the Loan Documents; (ii) AUGUST 31, 2014; or (iii) such other date as may be established by a written instrument between Debtor and Lender from time to time (the “Term  Maturity Date — Tranche C”), and (aa) Lender hereby agrees to lend to Debtor in a single advance an aggregate sum not to exceed SEVEN MILLION SEVEN HUNDRED ONE THOUSAND EIGHT HUNDRED AND NO/100 DOLLARS ($7,701,800.00) (the “Term Loan Facility — Tranche D,” and together with the Term Loan Facility — Tranche A, the Term Loan Facility — Tranche B and the Term Loan Facility — Tranche C, the “Term Loan Facility”) on  JANUARY 26, 2012  and continuing until: (i) the acceleration of the Indebtedness pursuant to the terms of the Loan Documents; (ii) JANUARY 26, 2017; or (iii) such other date as may be established by a written instrument between Debtor and Lender from time to time (the “Term  Maturity Date — Tranche D”).

 

3.             Amendment to Section 3 of Agreement.  Section 3 of the Agreement is hereby amended in its entirety to read as follows:

 

3.             Promissory Notes, Rate and Computation of Interest.  (i) the Revolving Credit Facility shall be evidenced by the Revolving Credit Note, (ii) the Term Loan Facility — Tranche A shall be evidenced by the Term Note — Tranche A, (iii) the Term Loan Facility — Tranche B shall be evidenced by the Term Note — Tranche B, (iv) the Term Loan Facility — Tranche C shall be evidenced by the Term Note — Tranche C, and (v) the Term Loan Facility — Tranche D shall be evidenced by the Term Note — Tranche D.  Interest on each Note shall accrue at the rates set forth therein.  The principal of and interest on each Note shall be due and payable in accordance with the terms and conditions set forth in such Note and in this Agreement.

 

4.             Amendment to Section 8(b) of Agreement.  Section 8(b) of the Agreement is hereby amended in its entirety to read as follows:

 

(b)           Debt Service Coverage Ratio.  Debtor shall maintain a Debt Service Coverage Ratio of not less than 2.00 to 1.00 (as of the end of each calendar quarter).  As soon as available and in any event within FORTY-FIVE (45) days of the end of each calendar quarter, Debtor shall provide Lender with a certificate of compliance together with such supporting information as Lender may reasonable require.  “Debt Service Coverage Ratio” means, for any period, the ratio of Debtor’s earnings before interest, taxes, depreciation and amortization expense (EBITDA), for the last four quarters divided by total capital lease obligations plus notes payable, including accrued interest expense due within one year on the Credit Facility and the Term Loan Facility.

 

5.             Grant of Security Interest.  Lender and Debtor agree that (a) a separate and distinct portion of the Collateral shall secure the Revolving Credit Facility, and (b) a separate and distinct portion of the Collateral shall

 

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secure the Term Loan Facility.  Accordingly, as collateral security for the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Indebtedness arising under the Revolving Credit Facility, Debtor hereby re-pledges to and re-grants Lender, a security interest in, all of Debtor’s right, title and interest in the Collateral described in Sections 1(d)(i), (iii) and (iv) of the Agreement, whether now owned by Debtor or hereafter acquired and whether now existing or hereafter coming into existence.  As collateral security for the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Indebtedness arising under the Term Loan Facility, Debtor hereby pledges to and grants Lender, and re-pledges to and re-grants Lender, a security interest in, all of Debtor’s right, title and interest in the Collateral described in Section 1(d)(ii), (iii) and (iv) of the Agreement, whether now owned by Debtor or hereafter acquired and whether now existing or hereafter coming into existence.

 

6.             Amendment to Exhibit 1(d) to Agreement.  Exhibit 1(d) to the Agreement is hereby amended in its entirety in the form of Exhibit 1(d) attached hereto.

 

7.             Conditions Precedent.  The obligations of Lender under this Amendment shall be subject to the condition precedent that Debtor shall have executed and delivered to Lender this Amendment and such other documents and instruments incidental and appropriate to the transaction provided for herein as Lender or its counsel may reasonably request, including, without limitation, the Term Note — Tranche D.

 

8.             Payment Expenses.  Debtor agrees to pay all reasonable attorneys’ fees of Lender in connection with the drafting and execution of this Amendment.

 

9.             Ratifications.  Except as expressly modified and superseded by this Amendment, the Agreement and the other Loan Documents are ratified and confirmed and continue in full force and effect.  The Loan Documents, as modified by this Amendment, continue to be legal, valid, binding and enforceable in accordance with their respective terms.  Without limiting the generality of the foregoing, Debtor hereby ratifies and confirms that all liens heretofore granted to Lender were intended to, do and continue to secure the full payment and performance of the indebtedness arising under the Loan Documents.  Debtor agrees to perform such acts and duly authorize, execute, acknowledge, deliver, file and record such additional assignments, security agreements, modifications or agreements to any of the foregoing, and such other agreements, documents and instruments as Lender may reasonably request in order to perfect and protect those liens and preserve and protect the rights of Lender in respect of all present and future collateral.  The terms, conditions and provisions of the Loan Documents (as the same may have been amended, modified or restated from time to time) are incorporated herein by reference, the same as if stated verbatim herein.

 

10.          Representations, Warranties and Confirmations.  Debtor hereby represents and warrants to Lender that (a) this Amendment and any other Loan Documents to be delivered under this Amendment (if any) have been duly executed and delivered by Debtor, are valid and binding upon Debtor and are enforceable against Debtor in accordance with their terms, except as limited by any applicable bankruptcy, insolvency or similar laws of general application relating to the enforcement of creditors’ rights and except to the extent specific remedies may generally be limited by equitable principles, (b) no action of, or filing with, any governmental authority is required to authorize, or is otherwise required in connection with, the execution, delivery and performance by Debtor of this Amendment or any other Loan Document to be delivered under this Amendment, and (c) the execution, delivery and performance by Debtor of this Amendment and any other Loan Documents to be delivered under this Amendment do not require the consent of any other person and do not and will not constitute a violation of any laws, agreements or understandings to which Debtor is a party or by which Debtor is bound.

 

11.          Release.  Debtor hereby acknowledges and agrees that there are no defenses, counterclaims, offsets, cross-complaints, claims or demands of any kind or nature whatsoever to or against Lender or the terms and provisions of or the obligations of Debtor under the Loan Documents and the other agreements, instruments and documents evidencing, securing, governing, guaranteeing or pertaining thereto, and that Debtor has no right to seek affirmative relief or damages of any kind or nature from Lender.  To the extent any such defenses, counterclaims, offsets, cross-complaints, claims, demands or rights exist, Debtor hereby waives, and hereby knowingly and voluntarily releases and forever discharges Lender and its predecessors, officers, directors, agents, attorneys, employees, successors and assigns, from all possible claims, demands, actions, causes of action, defenses, counterclaims, offsets, cross-complaints, damages, costs, expenses and liabilities whatsoever, whether known or

 

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unknown, such waiver and release being with full knowledge and understanding of the circumstances and effects of such waiver and release and after having consulted legal counsel with respect thereto.

 

12.          Multiple Counterparts.  This Amendment may be executed in a number of identical separate counterparts, each of which for all purposes is to be deemed an original, but all of which shall constitute, collectively, one agreement.  Signature pages to this Amendment may be detached from multiple separate counterparts and attached to the same document and a telecopy or other facsimile of any such executed signature page shall be valid as an original.

 

13.          Reference to Loan Documents.  Each of the Loan Documents, including the Agreement and any and all other agreements, documents, or instruments now or hereafter executed and delivered pursuant to the terms hereof containing a reference to any Loan Document shall mean and refer to such Loan Document as amended hereby.

 

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

 

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

 

NOTICE OF FINAL AGREEMENT

 

THE AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS THE SAME MAY BE AMENDED BY THIS AMENDMENT, REPRESENT THE FINAL AGREEMENT BETWEEN AND 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 BETWEEN AND AMONG THE PARTIES.

 

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LENDER:
    	
 
    	
ADDRESS:
    
	
 
    	
 
    	
 
    
	
SOVEREIGN   BANK
    	
 
    	
6060   Sherry Lane
    
	
 
    	
 
    	
Dallas,   TX 75225
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Stephanie Baird Velasquez
    	
 
    	
 
    
	
Name:
    	
Stephanie   Baird Velasquez
    	
 
    	
 
    
	
Title:
    	
Area   President
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
With copies of notices to:
    	
 
    	
GARDERE   WYNNE SEWELL LLP
    
	
 
    	
 
    	
 
    	
1601   Elm Street, Suite 3000
    
	
 
    	
 
    	
 
    	
Dallas,   TX 75201-4761
    
	
 
    	
 
    	
 
    	
Attention:   Steven S. Camp
    
	
 
    	
 
    	
 
    	
 
    
	
DEBTOR:
    	
 
    	
ADDRESS:
    
	
 
    	
 
    	
 
    
	
TGC INDUSTRIES, INC.
    	
 
    	
101   E. Park Blvd., Suite 955
    
	
 
    	
 
    	
Plano,   TX 75074
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/   Wayne Whitener
    	
 
    	
 
    
	
Name:
    	
Wayne   Whitener
    	
 
    	
 
    
	
Title:
    	
President &   CEO
    	
 
    	
 
    

 

5

 

EXHIBIT 1(d)

GEOSPACE EQUIPMENT

 

The items described in Section 1.1, Section 2.1 and Section 3.1 of Page 2 of the Quotation No. 0810-7795 Rev 1 from Geospace Technologies submitted to Wayne A. Whitener.

 

The items described in that certain Proforma Invoice No. 55609 dated as of December 13, 2010 from Geospace Technologies which are identified as follows:

 

	
Quantity
    	
 
    	
Description
    
	
3,000
    	
 
    	
450-00800-01 GSR Top Level Assy 1 Channel
    
	
3,300
    	
 
    	
454-04190-01 Batt, GSR, Single SR LiPo 14.4V x10Ah
    

 

The items described in that certain Invoice No. 99-072511-01 dated as of July 25, 2011 from Geospace Technologies which are identified as follows:

 

	
Quantity
    	
 
    	
Description
    
	
5000
    	
 
    	
GSR-1 (450-00800-01-CAP)
    
	
6000
    	
 
    	
Battery Pack (BP-1) (454-04190-01-CAP)
    
	
40
    	
 
    	
Charger Cabinet (454-04210-03-CAP)
    
	
1
    	
 
    	
(FMC) w/ (GSI) (461-01480-01-CAP)
    
	
8
    	
 
    	
Source Recorder Decoder (461-01350-02-CAP)
    
	
10
    	
 
    	
GSR-LV (Line Viewer) (461-01110-02-CAP)
    
	
3
    	
 
    	
Data Transfer Module (450-00850-03-CAP)
    
	
1
    	
 
    	
GeoRes-XTC (450-00910-06-CAP)
    
	
5000
    	
 
    	
GS-One (GEO93041-01-CAP)
    
	
1
    	
 
    	
42’ GSR Field Trailer (450-01030-03-CAP)
    
	
1
    	
 
    	
GSR Generator Trailer (450-01040-04-CAP)
    
	
10
    	
 
    	
Western Digital 2TB MyBook (173-00078-CAP)
    

 

The items described in the Quotation No. 011-085 (Revised) dated as of December 15, 2011 from Geospace Technologies which are identified as follows:

 

	
Quantity
    	
 
    	
Description
    
	
7200
    	
 
    	
GSR-1, One (1) Channel Unit
    
	
8640
    	
 
    	
GSR Battery Pack Assembly (Battery Pack (BP) Li-Ion   Polymer 14.8 v10 Ah Aluminum Case)
    
	
8
    	
 
    	
GSR-Line Viewer (deployed Status Integrity &   QC)
    
	
7200
    	
 
    	
Adaptors (LCK Male to KCL Make — Strong Adaptor)
    

 

6

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