Document:

SIXTH AMENDMENT TO LOAN AGREEMENTS

 

THIS SIXTH AMENDMENT
TO LOAN AGREEMENTS (this “Amendment”), dated as of August 20, 2013, is made among TULSA
INSPECTION RESOURCES, INC., an Oklahoma corporation (the “Borrower”), Tulsa
Inspection Resources-Nondestructive Examination, Inc., an Oklahoma corporation (“TIR-NE”), Regent
Private Capital, LLC, an Oklahoma limited liability company (the “Sponsor”),
TRIANGLE MEZZANINE FUND, LLLP, a North Carolina limited liability limited partnership (“Triangle”),
FIDUS MEZZANINE CAPITAL, L.P., a Delaware limited partnership (“Fidus”), SPP MEZZANINE FUNDING II
HOLDINGS, LLC, a Delaware limited liability company (“SPP II”), SPP MEZZANINE FUNDING II-A, L.P.,
a Delaware limited partnership (“SPP II-A”), and SALEM HALIFAX CAPITAL PARTNERS, LIMITED PARTNERSHIP,
a North Carolina limited partnership (“ Salem” and, together with Triangle, Fidus, SPP II, SPP II-A, the “Lenders”).
Capitalized terms used herein without definition shall have the meaning given to them in the 2010 Loan Agreement referred to below.

 

RECITALS

 

A.           The
Borrower,  the Sponsor, Triangle, as the Agent and a Lender, and the Lenders, are parties to a Loan Agreement, dated as of
March 12, 2009 (as amended, modified or supplemented, the “2009 Loan Agreement”), pursuant to which the
Lenders provided a $17,000,000 term loan to the Borrower upon the terms and conditions set forth therein.

 

B.           The
Borrower,  the Sponsor, Triangle, as the Agent and a Lender, and the Lenders, are parties to a Loan Agreement, dated as of
July 8, 2010 (as amended, modified or supplemented, the “2010 Loan Agreement” and, together with the 2009
Loan Agreement, the “Loan Agreements”), pursuant to which the Lenders provided a $2,756,001 term loan to
the Borrower upon the terms and conditions set forth therein.

 

C.           The
Borrower and its Subsidiaries have entered into receivables-based financing facilities with Wells Fargo Bank and its Affiliates,
the Borrower desires to increase the maximum indebtedness permitted thereunder and the Lenders are willing to amend the Loan Agreements
to accommodate such increase in permitted indebtedness.

 

D.           The
parties hereto have agreed to the amendments to the Loan Agreements and the limited waivers as set forth below.

 

STATEMENT OF AGREEMENT

 

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

 

ARTICLE
I

 

amendments
to THE LOAN AGREEMENTS

 

1.1           Indebtedness.
Section (6.1)(a)(xii) of each Loan Agreement is hereby amended and restated in its entirety as follows:

 

    	 

    	 

    

 

“(xii) (A) Indebtedness
of the Subsidiaries of the Borrower (other than TIR-NE) owed to the Senior Lender under the Senior Loan Documents in an aggregate
amount outstanding at any time not to exceed $11,250,000 and (B) Indebtedness of the Borrower and TIR-NE owed to the Senior Lender
under the Senior Loan Documents in an aggregate amount outstanding at any time not to exceed an amount equal to $55,000,000 less
the aggregate amount of Indebtedness described in the preceding clause (A).”

 

ARTICLE
II

 

REPRESENTATIONS
AND WARRANTIES

 

The Borrower,  each
other Credit Party and the Sponsor hereby represents and warrants to the Lenders and the Agent as follows:

 

2.1           Representations
and Warranties. After giving effect to this Amendment, each of the representations and warranties of the Borrower,
each other Credit Party and the Sponsor contained in each Loan Agreement and the other Loan Documents (both as defined in the
2009 Loan Agreement and as defined in the 2010 Loan Agreement) is true and correct in all material respects on and as of the
date hereof with the same effect as if made on and as of the date hereof (except to the extent any such representation or
warranty is expressly stated to have been made as of a specific date, in which case such representation or warranty is true
and correct as of such date).

 

2.2           No
Default. After giving effect to this Amendment, no Default or Event of Default under the 2009 Loan Agreement has occurred and
is continuing. After giving effect to this Amendment, no Default or Event of Default under the 2010 Loan Agreement has occurred
and is continuing.

 

2.3           Authorization.
The execution, delivery and performance of this Amendment and the transactions contemplated hereby (i) are within the
corporate authority of the Borrower,  each other Credit Party and the Sponsor, (ii) have been duly authorized by
all necessary corporate action of the Borrower, each other Credit Party and the Sponsor, (iii) do not and will not violate any
provision of law, statute, rule or regulation to which the Borrower, any other Credit Party or the Sponsor is subject or
any judgment, order, writ, injunction, license or permit applicable to the Borrower,  any other Credit Party or the Sponsor
and (iv) do not violate or breach any provision of the governing documents of the Borrower,  any other Credit Party or the Sponsor, or
any agreement or other instrument binding upon the Borrower,  any other Credit Party or the Sponsor.

 

2.1           Enforceability.
This Amendment has been duly executed and delivered by the Borrower,  each other Credit Party and the Sponsor and
constitutes the Borrower’s,  each other Credit Party’s and the Sponsor’s legal, valid and binding
obligation, enforceable in accordance with its terms, except as such enforceability may be limited by general principles of
equity and conflicts of laws or by bankruptcy, reorganization, insolvency, moratorium or other laws of general application
relating to or affecting the enforcement of creditors’ rights.

 

    	2

    	 

    

 

ARTICLE
III

 

effectiveness

 

3.1           This
Amendment shall become effective as of the date hereof upon the delivery to the Lenders of the following:

 

(a)          an
executed counterpart of this Amendment from the Borrower,  each other Credit Party and the Sponsor;

 

(b)          all
fees and expenses due in accordance with Section 5.3 hereof and under the Loan Agreements required to have been paid
on or prior to the effectiveness of this Amendment; and

 

(c)          such
other documents, agreements, instruments, certificates, opinions or other confirmations as the Lenders may reasonably request.

 

ARTICLE
IV

 

AFFIRMATION
OF OBLIGATIONS

 

4.1           Affirmation
of Borrower, each Credit Party and Sponsor. Each of the Borrower, each other Credit Party and the Sponsor hereby approves
and consents to the transactions contemplated by this Amendment and agrees that its obligations under the Loan Agreements and
the other Loan Documents (both as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) to which it
is a party shall not be diminished as a result of the execution of this Amendment. This acknowledgement by the Borrower,
each other Credit Party and the Sponsor is made and delivered to induce the Lenders to enter into this Amendment, and
the Borrower, each other Credit Party and the Sponsor acknowledges that the Lenders would not enter into this Amendment in
the absence of the acknowledgements contained herein.

 

4.2           Liens.
The Borrower and each other Credit Party hereby ratifies and confirms the grant of a security interest in and Lien on the Collateral
(both as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) contained in the Security Documents (both
as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) that were executed in connection with each Loan
Agreement, which security interest and Lien shall continue in full force and effect without interruption, and shall constitute
the single grant of a security interest and Lien.

 

ARTICLE
V

 

MISCELLANEOUS

 

5.1           Effect
of Amendment. From and after the effectiveness of this Amendment, all references to the Loan Agreements set forth in any Loan
Document (both as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) or other agreement or instrument
shall, unless otherwise specifically provided, be references to the Loan Agreements, as applicable, as amended by this Amendment
and as it may be further amended, modified, restated or supplemented from time to time. The parties hereto acknowledge and agree
that this Amendment is a Loan Document (both as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) for
all purposes under the Loan Agreement and the other Loan Documents (both as defined in the 2009 Loan Agreement and as defined in
the 2010 Loan Agreement).

 

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5.2           Governing
Law. This Amendment shall be governed by, and construed in accordance with, the law of the State of Delaware (excluding conflicts
of laws provisions).

 

5.3           Expenses.
The Borrower agrees to pay upon demand all reasonable out-of-pocket costs and expenses of the Lenders (including, without limitation,
the reasonable fees and expenses of counsel to the Lenders) in connection with the preparation, negotiation, execution and delivery
of this Amendment.

 

5.4           Severability.
To the extent any provision of this Amendment is prohibited by or invalid under the applicable law of any jurisdiction, such provision
shall be ineffective only to the extent of such prohibition or invalidity and only in any such jurisdiction, without prohibiting
or invalidating such provision in any other jurisdiction or the remaining provisions of this Amendment in any jurisdiction.

 

5.5           Successors
and Assigns. This Amendment shall be binding upon, inure to the benefit of and be enforceable by the respective successors
and assigns of the parties hereto.

 

5.6           Construction.
The headings of the various sections and subsections of this Amendment have been inserted for convenience only and shall not in
any way affect the meaning or construction of any of the provisions hereof.

 

5.7           Counterparts;
Effectiveness. This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts,
each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same
instrument. This Amendment shall become effective upon the execution and delivery of a counterpart hereof by each of the parties
hereto.

 

5.8           Authorization
and Consent Regarding Subordination Agreement. Each Lender (as defined in each of the Loan Agreements) hereby authorizes Triangle,
as Agent (as defined in each of the Loan Agreements), to execute on behalf of such Lender (as defined in each of the Loan Agreements)
the Third Amendment to the Intercreditor Agreement substantially in the form attached as Exhibit A hereto. This Section
5.8 is solely for the benefit of the Agent (as defined in each of the Loan Agreements) and the Lenders (as defined in each
of the Loan Agreements) and no other party shall have any rights with respect hereto.

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed by their duly authorized officers as of the date first above written.

 

	 	TULSA INSPECTION RESOURCES, INC.
	 	 	 
	 	By:	/s/ Randall Lorett
	 	Name:	Randall Lorett
	 	Title:	C.E.O
	 	 	 
	 	TULSA INSPECTION RESOURCES-NONDESTRUCTIVE EXAMINATION, INC.
	 	 	 
	 	By:	/s/ Randall Lorett
	 	Name:	Randall Lorett
	 	Title:	C.E.O

 

(Signatures continue on following page)

 

Signature Page to Sixth Amendment to

Loan Agreements

 

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	 	TRIANGLE MEZZANINE FUND, LLLP
	 	 	 	 
	 	By:	New Triangle GP, LLC,
	 	 	its General Partner
	 	 	 	 
	 	By:	Triangle Capital Corporation,
	 	 	its Manager
	 	 	 
	 	By:	/s/ Brent Burgess
	 	Name:	Brent Burgess
	 	Title:	CIO
	 	 	 
	 	FIDUS MEZZANINE CAPITAL, L.P.
	 	 	 
	 	By:	Fidus Investment GP, LLC,
	 	 	its General Partner
	 	 	 
	 	By:	Fidus Investment Advisors, LLC,
	 	 	its Manager
	 	 	 
	 	By:	/s/ W. Adrew Worth
	 	Name:	W. Andrew Worth
	 	Title:	Manager
	 	 	 
	 	SALEM HALIFAX CAPITAL PARTNERS, LIMITED PARTNERSHIP
	 	 	 
	 	By:	SCP Management, LLC, its General Partner
	 	 	 
	 	By:	/s/ W. Spalding White Jr.
	 	Name:	W. Spalding White Jr
	 	Title:	Manager

 

(Signatures continue on following page)

 

Signature Page to Sixth Amendment to

Loan Agreements 

 

    	S-2

    	 

    

 

	 	SPP MEZZANINE FUNDING II HOLDINGS, LLC
	 	 	 
	 	By:	/s/ Todd Kemble
	 	Name:  	Todd Kemble
	 	Title:	Managing Partner
	 	 	 
	 	SPP MEZZANINE FUNDING II-A, L.P.
	 	 	 
	 	By:  SPP Partners II, L.P., its General Partner
	 	 
	 	By:  SPP Partners II GP, LLC, its General  Partner
	 	 	 
	 	By:	/s/ Todd Kemble
	 	Name:	Todd Kemble 
	 	Title:	Managing Partner

 

Signature Page to Sixth Amendment to

Loan Agreements  

 

    	S-3

    	 

    

 

Exhibit A

 

Third Amendment to the
Intercreditor Agreement

 

See AttachedSEVENTH AMENDMENT TO LOAN AGREEMENTS
AND NOTES

 

THIS SEVENTH AMENDMENT
TO LOAN AGREEMENTS AND NOTES (this “Amendment”), dated as of October 11th, 2013, is made among TULSA
INSPECTION RESOURCES, INC., an Oklahoma corporation (the “Borrower”), Tulsa
Inspection Resources-Nondestructive Examination, Inc., an Oklahoma corporation (“TIR-NE”), TRIANGLE
MEZZANINE FUND, LLLP, a North Carolina limited liability limited partnership (“Triangle”), FIDUS
MEZZANINE CAPITAL, L.P., a Delaware limited partnership (“Fidus”), SPP MEZZANINE FUNDING II HOLDINGS,
LLC, a Delaware limited liability company (“SPP II”), SPP MEZZANINE FUNDING II-A, L.P., a Delaware
limited partnership (“SPP II-A”), and SALEM HALIFAX CAPITAL PARTNERS, LIMITED PARTNERSHIP, a North
Carolina limited partnership (“Salem” and, together with Triangle, Fidus, SPP II, SPP II-A, the “Lenders”).
Capitalized terms used herein without definition shall have the meaning given to them in the 2010 Loan Agreement referred to below.

 

RECITALS

 

A.           The
Borrower, Triangle, as the Agent and a Lender, and the Lenders, are parties to a Loan Agreement, dated as of March 12, 2009 (as
amended, modified or supplemented, the “2009 Loan Agreement”), pursuant to which the Lenders provided a $17,000,000
term loan to the Borrower upon the terms and conditions set forth therein.

 

B.           The
Borrower, Triangle, as the Agent and a Lender, and the Lenders, are parties to a Loan Agreement, dated as of July 8, 2010 (as amended,
modified or supplemented, the “2010 Loan Agreement” and, together with the 2009 Loan Agreement, the “Loan
Agreements”), pursuant to which the Lenders provided a $2,756,001 term loan to the Borrower upon the terms and conditions
set forth therein.

 

C.           The
parties hereto have agreed to the amendments to the Loan Agreements and the limited waivers as set forth below.

 

STATEMENT OF AGREEMENT

 

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

 

ARTICLE
I

 

amendments
to THE LOAN AGREEMENTS AND NOTES

 

1.1          Existing Defined Terms. Section
1.1 of each Loan Agreement is hereby amended by amending the following defined term:

 

		(a)	The definition of “Change of Control” is hereby amended and restated in its entirety
as follows:

 

    	 

    	 

    

 

“Change
of Control” means one or more transactions resulting in: (a) one or more Persons (other than the holders of Capital Stock
of the Borrower that were existing as of March 12, 2009 and Cypress Energy Holdings, LLC, a Delaware limited liability company,
operating indirectly through Cypress Energy Partners – TIR, LLC, a Delaware limited liability company (“Cypress”)),
either (i) owning in the aggregate 50% or more of the then outstanding units of voting Capital Stock of the Borrower, or (ii) being
able to elect a majority of the Board of Directors or otherwise to exercise, directly or indirectly Control over the management
or policies of the Borrower; (b) the aggregate of the issued and outstanding units of each class of Capital Stock of the Borrower
held by each of Cypress, Charles Stephenson and Cynthia Field (directly or indirectly), free and clear of all Liens, rights, options,
warrants or other similar agreements or understandings being less than 80% of the aggregate of the issued and outstanding shares
of such class of Capital Stock of the Borrower held by Cypress, Charles Stephenson and Cynthia Field (directly or indirectly),
as applicable, as of October 5, 2013; (c) any distribution, recapitalization, units sale or other event resulting in the receipt
by Cypress, Charles Stephenson and Cynthia Field (directly or indirectly), collectively, of gross proceeds equal to or exceeding
the actual aggregate cash investment by the Sponsor (directly or indirectly) in the Borrower; (d) any Credit Party ceasing to own
100% of the issued and outstanding Capital Stock of any of its Subsidiaries; (e) the consummation of an initial public offering
and sale of Capital Stock by any Credit Party which is registered under the Securities Act; or (f) the sale of greater than fifty
percent (50%) of the assets of any Credit Party (excluding (I) sales of inventory in the ordinary course of business and/or (II)
the assignment of rights to accounts receivable in connection with factoring relationships entered into the ordinary course of
business).

 

		(b)	The definition of “Maturity Date” is hereby amended and restated in its entirety as
follows:

 

”Maturity Date”
means June 1, 2015.

 

1.2           Confidentiality.
The definition of “Information” set forth in Section 9.18 of each Loan Agreement is hereby amended and restated in
its entirety as follows:

 

“For
the purposes of this Section, “Information” means all information received from the Borrower or its Subsidiaries
or Cypress Energy Partners – TIR, LLC relating to the Borrower or its Subsidiaries or Cypress
Energy Partners – TIR, LLC or their business, other than any such information that is available
to any Lender on a non-confidential basis prior to disclosure by the Borrower or its Subsidiaries or Cypress Energy Partners
– TIR, LLC ; provided that, in the case of information received from the Borrower or any
Subsidiary or Cypress Energy Partners – TIR, LLC after the date hereof,
such information is clearly identified (in a reasonable manner) at the time of delivery as confidential.”

 

1.3           2009
Notes. Section 2.1 of each Note (as defined in the 2009 Loan Agreement) is hereby amended and restated in its entirety as follows:

 

    	2

    	 

    

 

“2.1           Accrual
and Pay Rates.

 

(a)          Accrual
Rate. Subject to Section 2.2 hereof, from the date hereof and thereafter until the repayment of this Note in full, interest
shall accrue on the principal balance of this Note outstanding from time to time at the fixed rate of sixteen percent (16%) per
annum (computed on the basis of a year of 360 days and actual days elapsed) (such interest rate, the “Accrual Rate”),
provided that such rate shall be fourteen percent (14%) per annum for periods ending on or prior to the later of (i) March 12,
2014 and (ii) the date on which the Holder notifies the Borrower of its election to charge interest at the higher rate set forth
in the preceding clause.

 

(b)          Pay
Rate. Subject to Section 2.2 hereof, from the date hereof and thereafter until the repayment of this Note in full, interest
shall be paid currently in cash on a monthly basis at the fixed rate of sixteen percent (16%) per annum (computed on the basis
of a year of 360 days and actual days elapsed) (such interest rate, the “Pay Rate”), provided that such
rate shall be fourteen percent (14%) per annum for periods ending on or prior to the later of (i) March 12, 2014 and (ii) the date
on which the Holder notifies the Borrower of its election to charge interest at the higher rate set forth in the preceding clause.”

 

1.4           2010
Notes. Section 2.1 of each Note (as defined in the 2010 Loan Agreement) is hereby amended and restated in its entirety as follows:

 

“2.1           Accrual
and Pay Rates.

 

(a)          Accrual
Rate. Subject to Section 2.2 hereof, from the date hereof and thereafter until the repayment of this Note in full, interest
shall accrue on the principal balance of this Note outstanding from time to time at the fixed rate of nineteen and one half percent
(19.5%) per annum (computed on the basis of a year of 360 days and actual days elapsed) (such interest rate, the “Accrual
Rate”), provided that such rate shall be seventeen and one half percent (17.5%) per annum for periods ending on or
prior to the later of (i) March 12, 2014 and (ii) the date on which the Holder notifies the Borrower of its election to charge
interest at the higher rate set forth in the preceding clause.

 

(b)          Pay
Rate. Subject to Section 2.2 hereof, from the date hereof and thereafter until the repayment of this Note in full, interest
shall be paid currently in cash on a monthly basis at the fixed rate of nineteen and one half percent (19.5%) (computed on the
basis of a year of 360 days and actual days elapsed) (such interest rate, the “Pay Rate”), provided that
such rate shall be seventeen and one half percent (17.5%) per annum for periods ending on or prior to the later of (i) March 12,
2014 and (ii) the date on which the Holder notifies the Borrower of its election to charge interest at the higher rate set forth
in the preceding clause.”

 

    	3

    	 

    

 

 

ARTICLE
II

 

REPRESENTATIONS
AND WARRANTIES

 

The Borrower and each
other Credit Party hereby represents and warrants to the Lenders and the Agent as follows:

 

2.1           Representations
and Warranties. After giving effect to this Amendment, each of the representations and warranties of the Borrower and each
other Credit Party contained in each Loan Agreement and the other Loan Documents (both as defined in the 2009 Loan Agreement and
as defined in the 2010 Loan Agreement) is true and correct in all material respects on and as of the date hereof with the same
effect as if made on and as of the date hereof (except to the extent any such representation or warranty is expressly stated to
have been made as of a specific date, in which case such representation or warranty is true and correct as of such date).

 

2.2           No
Default. After giving effect to this Amendment, no Default or Event of Default under the 2009 Loan Agreement has occurred and
is continuing. After giving effect to this Amendment, no Default or Event of Default under the 2010 Loan Agreement has occurred
and is continuing.

 

2.3           Authorization.
The execution, delivery and performance of this Amendment and the transactions contemplated hereby (i) are within the corporate
authority of the Borrower, each other Credit Party, (ii) have been duly authorized by all necessary corporate action of the
Borrower, and each other Credit Party, (iii) do not and will not violate any provision of law, statute, rule or regulation
to which the Borrower or any other Credit Party is subject or any judgment, order, writ, injunction, license or permit applicable
to the Borrower or any other Credit Party and (iv) do not violate or breach any provision of the governing documents of the
Borrower or any other Credit Party, or any agreement or other instrument binding upon the Borrower or any other Credit Party.

 

2.1           Enforceability.
This Amendment has been duly executed and delivered by the Borrower and each other Credit Party and constitutes the Borrower’s
and each other Credit Party’s legal, valid and binding obligation, enforceable in accordance with its terms, except as such
enforceability may be limited by general principles of equity and conflicts of laws or by bankruptcy, reorganization, insolvency,
moratorium or other laws of general application relating to or affecting the enforcement of creditors’ rights.

 

ARTICLE
III

 

effectiveness

 

3.1          This
Amendment shall become effective as of the date hereof upon the delivery to the Lenders of the following:

 

(a)          an
executed counterpart of this Amendment from the Borrower and each other Credit Party;

 

(b)          all
fees and expenses due in accordance with Section 5.3 hereof and under the Loan Agreements required to have been paid
on or prior to the effectiveness of this Amendment; and

 

(c)          such
other documents, agreements, instruments, certificates, opinions or other confirmations as the Lenders may reasonably request.

 

    	4

    	 

    

 

ARTICLE
IV

 

AFFIRMATION
OF OBLIGATIONS

 

4.1           Affirmation
of Borrower and each Credit Party. Each of the Borrower and each other Credit Party hereby approves and consents to the transactions
contemplated by this Amendment and agrees that its obligations under the Loan Agreements and the other Loan Documents (both as
defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) to which it is a party shall not be diminished as
a result of the execution of this Amendment. This acknowledgement by the Borrower and each other Credit Party is made and delivered
to induce the Lenders to enter into this Amendment, and the Borrower and each other Credit Party acknowledges that the Lenders
would not enter into this Amendment in the absence of the acknowledgements contained herein.

 

4.2           Liens.
The Borrower and each other Credit Party hereby ratifies and confirms the grant of a security interest in and Lien on the Collateral
(both as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) contained in the Security Documents (both
as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) that were executed in connection with each Loan
Agreement, which security interest and Lien shall continue in full force and effect without interruption, and shall constitute
the single grant of a security interest and Lien.

 

ARTICLE
V

 

MISCELLANEOUS

 

5.1           Effect
of Amendment. From and after the effectiveness of this Amendment, all references to the Loan Agreements or Notes (both as defined
in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) set forth in any Loan Document (both as defined in the 2009
Loan Agreement and as defined in the 2010 Loan Agreement) or other agreement or instrument shall, unless otherwise specifically
provided, be references to the Loan Agreements or Notes, as applicable, as amended by this Amendment and as they may be further
amended, modified, restated or supplemented from time to time. The parties hereto acknowledge and agree that this Amendment is
a Loan Document (both as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement) for all purposes under the
Loan Agreement and the other Loan Documents (both as defined in the 2009 Loan Agreement and as defined in the 2010 Loan Agreement).

 

5.2           Governing
Law. This Amendment shall be governed by, and construed in accordance with, the law of the State of Delaware (excluding conflicts
of laws provisions).

 

5.3           Expenses.
The Borrower agrees to pay upon demand all reasonable out-of-pocket costs and expenses of the Lenders (including, without limitation,
the reasonable fees and expenses of counsel to the Lenders) in connection with the preparation, negotiation, execution and delivery
of this Amendment.

 

    	5

    	 

    

 

5.4           Severability.
To the extent any provision of this Amendment is prohibited by or invalid under the applicable law of any jurisdiction, such provision
shall be ineffective only to the extent of such prohibition or invalidity and only in any such jurisdiction, without prohibiting
or invalidating such provision in any other jurisdiction or the remaining provisions of this Amendment in any jurisdiction.

 

5.5           Successors
and Assigns. This Amendment shall be binding upon, inure to the benefit of and be enforceable by the respective successors
and assigns of the parties hereto.

 

5.6           Construction.
The headings of the various sections and subsections of this Amendment have been inserted for convenience only and shall not in
any way affect the meaning or construction of any of the provisions hereof.

 

5.7           Counterparts;
Effectiveness. This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts,
each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same
instrument. This Amendment shall become effective upon the execution and delivery of a counterpart hereof by each of the parties
hereto.

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed by their duly authorized officers as of the date first above written.

 

	 	TULSA INSPECTION RESOURCES, INC.
	 	 	 
	 	By:	/s/ Peter C. Boylan
	 	Name:	Peter C. Boylan III
	 	Title:	Executive Chairman
	 	 	 
	 	TULSA INSPECTION RESOURCES-NONDESTRUCTIVE EXAMINATION, INC.
	 	 	 
	 	By:	/s/ Peter C. Boylan
	 	Name:	 Peter C. Boylan III
	 	Title:	Executive Chairman

 

(Signatures continue on following page)

 

Signature Page to Seventh Amendment to

Loan Agreements

 

    	S-1

    	 

    

 

	 	TRIANGLE MEZZANINE FUND, LLLP
	 	 	 
	 	By:	New Triangle GP, LLC,

 its General Partner
	 	 	 
	 	By:	Triangle Capital Corporation,
	 	 	its Manager
	 	 	 
	 	By:	/s/ Douglas A. Vaughn
	 	Name:	Douglas A. Vaughn
	 	Title:	Managing Director
	 	 	 
	 	FIDUS MEZZANINE CAPITAL, L.P.
	 	 	 
	 	By:	Fidus Investment GP, LLC,
	 	 	its General Partner
	 	 	 
	 	By:	Fidus Investment Advisors, LLC,
	 	 	its Manager
	 	 	 
	 	By:	/s/ W. Andrew Worth
	 	Name:	W. Andrew Worth
	 	Title:	Manager
	 	 	 
	 	SALEM HALIFAX CAPITAL PARTNERS, LIMITED PARTNERSHIP
	 	 	 
	 	By:	SCP Management, LLC, its General Partner
	 	 	 
	 	By:	/s/ W. Spalding White
	 	Name:	W. Spalding White, Jr.
	 	Title:	Manager

 

(Signatures continue on following page)

 

Signature Page to Seventh Amendment to

Loan Agreements and Notes 

 

    	S-2

    	 

    

 

	 	SPP MEZZANINE FUNDING II HOLDINGS, LLC
	 	 	 
	 	By:	/s/ Todd Kumble
	 	Name:  	Todd Kumble
	 	Title:	Managing Partner
	 	 	 
	 	SPP MEZZANINE FUNDING II-A, L.P.
	 	 	 
	 	By:  SPP Partners II, L.P., its General Partner
	 	 	 
	 	By:  SPP Partners II GP, LLC, its General  Partner
	 	 	 
	 	By:	/s/ Todd Kumble
	 	Name:  	Todd Kumble
	 	Title:	Managing Partner

 

Signature Page to Seventh Amendment to

Loan Agreements and Notes 

 

    	S-3

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