Document:

exv4w5

 

Exhibit 4.5

FIRST SUPPLEMENTAL WARRANT AGREEMENT

     This First Supplemental Warrant
Agreement (this “Agreement”), dated August 21, 2006, is to the
Warrant Agreement, dated as of February 15, 2006 (the “Warrant Agreement”), by and between Global
Logistics Acquisition Corporation, a Delaware corporation (“Company”), and The Bank of New York, a
New York trust company (“Warrant Agent”).

     WHEREAS, Section 6.01(a) of the Warrant Agreement provides that the parties to the Warrant
Agreement may amend the Warrant Agreement without the consent of any registered holder for the
purpose of curing any ambiguity, or curing, correcting or supplementing any defective provision
contained therein, or making any other provisions with respect to matters or questions arising
under the Warrant Agreement that are not inconsistent with the provisions of the Warrant Agreement
as the parties may deem to be necessary or desirable and that will not adversely affect the
interests of the warrant holders in any material respect.

     NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending
to be legally bound hereby, the parties hereto amend the Warrant Agreement as follows:

     1. Warrant Agreement. The Warrant Agreement is hereby amended by adding the
following to the end of Section 6.08:

     “Provided, however, that in no event will the Holder of a Warrant be entitled to receive a net
cash settlement or other consideration in lieu of physical settlement in shares of Common Stock.”

     2. Except as indicated above, the Warrant Agreement shall remain in full force and effect.

     3. Miscellaneous.

     (a) GOVERNING LAW. THIS AGREEMENT, THE LEGAL RELATIONS BETWEEN AND AMONG THE PARTIES
HERETO, THE ADJUDICATION AND THE ENFORCEMENT HEREOF SHALL BE GOVERNED BY AND INTERPRETED AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS FORMED AND
TO BE PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAW
PROVISIONS THEREOF TO THE EXTENT SUCH PRINCIPLES OR RULES WOULD REQUIRE OR PERMIT THE APPLICATION
OF THE LAWS OF ANOTHER JURISDICTION.

 

 

     (b) Jurisdiction; Waiver of Jury Trial. Except as otherwise expressly provided in this
Agreement, each of the parties hereto irrevocably and unconditionally submits to the exclusive
jurisdiction of the United States District Court for the Southern District of New York or, if such
court does not have jurisdiction, the New York State Supreme Court in the Borough of Manhattan, in
any legal action arising out of or relating to this Agreement, agrees that all claims in respect of
the legal action may be heard and determined in any such court and agrees not to bring any legal
action arising out of or relating to this Agreement in any other court. Each of the parties hereto
irrevocably waives any and all right to trial by jury in any legal proceeding arising out of or
related to this Agreement or the transactions contemplated hereby.

     (c) Benefits of Agreement. Nothing in this Agreement expressed or implied and nothing
that may be inferred from any of the provisions hereof is intended, or shall be construed, to
confer upon, or give to, any person or corporation other than the Company, the Warrant Agent and
their respective successors and assigns, the Beneficial Owners (as defined in the Warrant
Agreement) and the Holders any right, remedy or claim under or by reason of this Agreement or of
any agreement hereof; and all agreements contained in this Agreement shall be for the sole and
exclusive benefit of the Company and the Warrant Agent and their respective successors and assigns
and of the Beneficial Owners and Holders.

     (d) Indemnity. The Company agrees that the indemnity in Section 5.02(a) of the
Warrant Agreement is incorporated herein by reference and that the execution of this Agreement by
the Warrant Agent shall in no case be deemed to constitute negligence or willful misconduct on the
part of the Warrant Agent.

     (e) Severability. If any provision in this Agreement shall be invalid, illegal or
unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining
provisions, or of such provisions in any other jurisdiction, shall not in any way be affected or
impaired thereby. Upon such determination that any term or other provision is invalid, illegal or
incapable of being enforced, the parties hereto shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the parties as closely as possible in an
acceptable manner in order that the transactions contemplated hereby are consummated as originally
contemplated to the greatest extent possible.

     (f) Counterparts. This Agreement may be executed in any number of counterparts, each
of which so executed shall be deemed to be an original; but such counterparts shall together
constitute but one and the same instrument.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this First Supplemental Warrant Agreement
as of the date first written above.

	 	 	 	 	 
	 	GLOBAL LOGISTICS ACQUISTION CORPORATION	 
	 
	 	By:  	 /s/
Gregory E. Burns	 
	 
	 	THE BANK OF NEW YORK

 	 
	 	By:  	 /s/
John Sivertsenexv10w1

 

Exhibit 10.1

COMMITMENT INCREASE AND JOINDER AGREEMENT

(Commitment Increase Pursuant to Section 2.14 of Credit Agreement)

     This COMMITMENT INCREASE AND JOINDER AGREEMENT (this “Agreement”) dated as of August 2,
2006 (the “Increase Effective Date”) is entered into by and among PATTERSON-UTI ENERGY, INC., a
Delaware corporation (“Borrower”), the undersigned Guarantors, the undersigned Lenders as defined
in the Credit Agreement who are increasing their Commitments (as defined in the Credit Agreement)
(collectively, the “Increasing Lenders”), each New Lender (hereinafter defined), BANK OF AMERICA,
N.A., as administrative agent (in such capacity, the “Administrative Agent”), L/C Issuer, and
Lender. As used herein, “Existing Lenders” means the Lenders who are parties to the Credit
Agreement prior to the Increase Effective Date, and “New Lender” means each financial institution
that is named as a Lender on the signature pages hereto that is not an Existing Lender and the term
“Lenders” means, collectively, the New Lenders and the Existing Lenders.

R E C I T A L S

     A. Borrower, the Increasing Lenders, other financial institutions, and Administrative Agent
are parties to that certain Credit Agreement dated as of December 17, 2004 (the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the
meanings attributed to them in the Credit Agreement.

     B. Pursuant to Section 2.14 of the Credit Agreement, this Agreement is being executed to
evidence Borrower’s requested increase in the Aggregate Commitments from $200,000,000 to
$375,000,000.

     C. Each of the undersigned Increasing Lenders has agreed to increase its Commitment in
accordance with Schedule 2.01 hereto and each of the New Lenders have agreed to make a Commitment
in accordance with Section 2.01 hereof.

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

     1. Increase in Commitments. Subject to satisfaction of the conditions precedent set forth in
Section 2 of this Agreement, effective as of the Increase Effective Date, (a) the Aggregate
Commitments shall be increased from $200,000,000 to $375,000,000; (b) the Commitment of each
undersigned Increasing Lender, as increased, and the Commitment of each New Lender shall be in the
amount set forth on Schedule 2.01 attached hereto; (c) Schedule 2.01 attached hereto shall replace
Schedule 2.01 of the Credit Agreement in its entirety and; (d) each reference in the Credit
Agreement, including the schedules and exhibits thereto and the other documents delivered in
connection therewith, to “Lenders” shall include each of the New Lenders.

     2. Conditions Precedent to Effectiveness. This Agreement shall be effective as of the Increase
Effective Date, provided that (a) Administrative Agent shall have received (i) counterparts of
this Agreement, executed by Borrower, each Guarantor, each New Lender and each Increasing Lender,
(ii) the certificates and opinion of counsel required by Section 2.14(e) of the Credit Agreement,
(iii) to the extent required by any Increasing Lender or New Lender, a Note in a maximum principal
amount equal to such Lender’s Commitment, and (b) Borrower shall have paid all fees and expenses
that are required to be paid as of the Increase Effective Date.

     3. Joinder of New Lenders. Each New Lender (a) confirms that it has received a copy of the
Credit Agreement, the Guaranty and such other documents and information as it has deemed

 

 

appropriate to make its own credit analysis and decision to enter into this Agreement and
become a Lender party to the Credit Agreement, (b) agrees that it will, independently and without
reliance upon the Administrative Agent or any Lender and based on such documents and information as
it shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under the Loan Documents, (c) appoints or authorizes the Administrative Agent to take
such action on its behalf and to exercise such powers under the Loan Documents as are delegated by
the terms thereof, together with such powers as are reasonably incidental thereto, (d) agrees that
it will perform in accordance with their terms all of the obligations which by the terms of the
Loan Documents are required to be performed by it as a Lender, and (e) specifies as its lending
office and address for notices the offices set forth on the administrative details form provided to
the Administrative Agent.

     4. Affirmation of Guarantors. Each of the undersigned Guarantors consents to the increase in
the Aggregate Commitments and ratifies and confirms that the Guaranty continues in full force and
effect and is not released, diminished, impaired, reduced, or otherwise adversely affected, and all
of its obligations thereunder are hereby ratified and confirmed. Without limiting the foregoing,
each Guarantor affirms that all Obligations under the Credit Agreement as modified by the increase
in Aggregate Commitments herein contained are included in the Guaranteed Obligations as defined in
the Guaranty.

     5. Miscellaneous. (a) Headings and captions may not be construed in interpreting provisions;
(b) this Agreement shall be governed by, and construed in accordance with, the law of the State of
Texas applicable to agreements made and to be performed entirely within such State; and (c) this
Agreement may be executed in any number of counterparts with the same effect as if all signatories
had signed the same document, and all of those counterparts must be construed together to
constitute the same document.

     6. ENTIRE AGREEMENT. THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS, TOGETHER WITH THIS
AGREEMENT, 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 BETWEEN THE PARTIES.

[Signature Pages to Follow]

2

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the
date first above written.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	PATTERSON-UTI ENERGY, INC.,

a Delaware corporation, as Borrower
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ John E. Vollmer III
	 	 	 	 	 
	 	 	 	 	Name:	 	John E. Vollmer III
	 	 	 	 	Title:	 	Chief Financial Officer and Treasurer

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	GUARANTORS:
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	UTICO, INC.
	 	 	UTICO HARD ROCK BORING, INC.
	 	 	NORTON DRILLING SERVICES, INC.
	 	 	NORTON DRILLING COMPANY MEXICO, INC.
	 	 	INTERNATIONAL PETROLEUM SERVICE COMPANY
	 	 	UTI DRILLING CANADA, INC.
	 	 	PATTERSON (GP) LLC
	 	 	PATTERSON (GP2) LLC
	 	 	PATTERSON-UTI AVIATION SERVICS LLC
	 	 	UNIVERSAL WELL SERVICES, INC.
	 	 	SUITS DRILLING COMPANY
	 	 	TMBR/SHARP DRILLING, LLC
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ John E. Vollmer III
	 	 	 	 	 
	 	 	 	 	Name:	 	John E. Vollmer III
	 	 	 	 	Title:	 	Chief Financial Officer and Treasurer
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	PATTERSON (LP) LLC
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ John E. Vollmer III
	 	 	 	 	 
	 	 	 	 	Name:	 	John E. Vollmer III
	 	 	 	 	Title:	 	Chief Financial Officer and Treasurer
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	UTI DRILLING, L.P.
	 	 	UTI MANAGEMENT SERVICES, L.P.
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	UTICO HARD ROCK BORING,
INC., as sole general partner of UTI Drilling, L.P. and UTI Management Services, L.P.
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ John E. Vollmer III
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Name:	 	John E. Vollmer III
	 	 	 	 	 	 	Title:	 	Chief Financial Officer and Treasurer

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	NORTON DRILLING, L.P.
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Norton GP, L.L.C., its general partner
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Norton Drilling Services, Inc., its sole member
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	/s/ John E. Vollmer III
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	John E. Vollmer III
	 

	 	 	 	 	 	 	 	Title:
	 	Chief Financial Officer and Treasurer
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	NORTON GP, L.L.C.
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Norton Drilling Services, Inc., its sole member
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ John E. Vollmer III
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Name:	 	John E. Vollmer III
	 	 	 	 	 	 	Title:	 	Chief Financial Officer and Treasurer
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	PATTERSON-UTI DRILLING COMPANY LP, LLLP
	 	 	PATTERSON-UTI DRILLING SERVICES LP, LLLP
	 	 	LONE STAR MUD LP, LLLP
	 	 	AMBAR DRILLING FLUIDS LP, LLLP
	 	 	PATTERSON PETROLEUM LP, LLLP
	 	 	PATTERSON PETROLEUM TRADING COMPANY, LP, LLLP
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Patterson (GP)
LLC, general partner of each of the foregoing Guarantors
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ John E. Vollmer III
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Name:	 	John E. Vollmer III
	 	 	 	 	 	 	Title:	 	Chief Financial Officer and Treasurer

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.,

as Administrative Agent
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Claire Liu
	 	 	 	 	 
	 	 	 	 	Name:	 	Claire Liu
	 	 	 	 	 	 	 
	 	 	 	 	Title:	 	Senior Vice President
	 	 	 	 	 	 	 

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.,

as a Lender
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Claire Liu
	 	 	 	 	 
	 	 	 	 	Name:	 	Claire Liu
	 	 	 	 	 	 	 
	 	 	 	 	Title:	 	Senior Vice President
	 	 	 	 	 	 	 

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as a Lender
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Kelton Glasscock
	 	 	 	 	 
	 	 	 	 	Name:	 	Kelton Glasscock
	 	 	 	 	 	 	 
	 	 	 	 	Title:	 	Vice President & Manager
	 	 	 	 	 	 	 

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Lender
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Eric R. Hollingsworth
	 	 	 	 	 
	 	 	 	 	Name:	 	Eric R. Hollingsworth
	 	 	 	 	 	 	 
	 	 	 	 	Title:	 	Vice President
	 	 	 	 	 	 	 

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	BANCO BILBAO VIZCAYA ARGENTARIA S.A.,

as a Lender
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Hector O. Villegas and /s/ Maria T. Vizan
	 	 	 	 	 
	 	 	 	 	Name:	 	Hector O. Villegas
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Maria T. Vizan
	 	 	 	 	 	 	 
	 	 	 	 	Title:	 	Vice President Global Corporate Banking
	 	 	 	 	 	 	 

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	MIDFIRST BANK,

as a Lender
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Shawn D. Brewer
	 	 	 	 	 
	 	 	 	 	Name:	 	Shawn D. Brewer
	 	 	 	 	Title:	 	Vice President

Signature Page to Commitment Increase and Joinder Agreement

(Patterson-UTI Energy, Inc.)

 

 

SCHEDULE 2.01

COMMITMENTS

AND APPLICABLE PERCENTAGES

	 	 	 	 	 
	Lender	 	Commitment	 	Applicable Percentage
	 
	 
	 	 	 	 
	Bank of America, N.A.
	 	$77,000,000.00	 	20.533333333%
	 
	 
	 	 	 	 
	The Bank of Tokyo Mitsubishi UFJ, Ltd.
	 	$75,000,000.00	 	20.000000000%
	 
	 
	 	 	 	 
	Wells Fargo Bank, National Association
	 	$75,000,000.00	 	20.000000000%
	 
	 
	 	 	 	 
	Sumitomo Mitsui Banking Corp.
	 	$34,000,000.00	 	9.066666667%
	 
	 
	 	 	 	 
	Royal Bank of Scotland plc
	 	$34,000,000.00	 	9.066666667%
	 
	 
	 	 	 	 
	Banco Bilbao Vizcaya Argentaria S.A.
	 	$25,000,000.00	 	6.666666667%
	 
	 
	 	 	 	 
	MidFirst Bank
	 	$25,000,000.00	 	6.666666667%
	 
	 
	 	 	 	 
	Amegy Bank, N.A.
	 	$15,000,000.00	 	4.000000000%
	 
	 
	 	 	 	 
	Mizuho Corporate Bank, Ltd.
	 	$15,000,000.00	 	4.000000000%
	 
	 	 	 	 
	Total
	 	$375,000,000.00	 	100.000000000%

Schedule 2.01

to Commitment Increase and Joinder Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]