SEC Contract Filing

Filing Date: 2020-07-06

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d38605dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AMENDMENT NO. 3 TO CREDIT AGREEMENT AND PARENT GUARANTY </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">THIS AMENDMENT NO. 3 TO CREDIT AGREEMENT AND PARENT GUARANTY (this &#147;<B>Amendment</B>&#148;) is made as of the 29 day of June, 2020, and
amends and is supplemental to (a)&nbsp;that certain credit agreement dated as of September&nbsp;26, 2018 (as may be amended, supplemented or otherwise modified from time to time, including by that certain Amendment No.&nbsp;1 to Credit Agreement and
Parent Guaranty dated August&nbsp;6, 2019, that certain Amendment No.&nbsp;2 to Credit Agreement dated November&nbsp;26, 2019, and that certain letter agreement dated December&nbsp;13, 2019, the &#147;<B>Credit Agreement</B>&#148;) and (b)&nbsp;that
certain guaranty dated as of September&nbsp;28, 2018 (as amended, supplemented or otherwise modified from time to time, including by that certain Amendment No.&nbsp;1 to Credit Agreement and Parent Guaranty dated August&nbsp;6, 2019, the
&#147;<B>Parent Guaranty</B>&#148;), and is by and among (i)&nbsp;SEACOR Marine Foreign Holdings Inc., a corporation incorporated under the laws of the Republic of the Marshall Islands (the &#147;<B>Borrower</B>&#148;), as borrower, (ii)&nbsp;SEACOR
Marine Holdings Inc., a corporation incorporated under the laws of the State of Delaware (the &#147;<B>Parent Guarantor</B>&#148;), as parent guarantor, (iii)&nbsp;the entities identified on Schedule <FONT STYLE="white-space:nowrap">1-A</FONT>
thereto, as subsidiary guarantors, (iv)&nbsp;DNB BANK ASA, New York Branch (&#147;<B>DNB Bank</B>&#148;), as facility agent for the Creditors (in such capacity, the &#147;<B>Facility Agent</B>&#148;), as security trustee for the Creditors (in such
capacity, the &#147;<B>Security Trustee</B>&#148;), (v) the banks, financial institutions and institutional lenders whose names and addresses are set out in Schedule <FONT STYLE="white-space:nowrap">1-B</FONT> thereto, as lenders (together with any
assignee pursuant to the terms of Section&nbsp;10 of the Credit Agreement, the &#147;<B>Lenders</B>&#148;, and each separately, a &#147;<B>Lender</B>&#148;), (vi) the Swap Banks, (vii)&nbsp;DNB Markets, Inc., Clifford Capital Pte. Ltd. and NIBC Bank
N.V. as mandated lead arrangers, and (viii)&nbsp;DNB Markets, Inc. as coordinator and bookrunner. Unless otherwise defined herein, the capitalized terms used herein shall have the meanings assigned to such terms in the Credit Agreement. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>W I T N E S S E T H </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has requested that the Lenders execute and deliver this Amendment in order to, among other things, (a)&nbsp;allow for
the Parent Guarantor to enter into certain parent guarantees in favor of (i)Cosco Shipping Heavy Industry (Guangdong) Co., Ltd. and (ii)&nbsp;China Shipping Fan Tai Limited and China Shipping Industry (Hong Kong) Co., Limited, in each case as
further described herein, (b)&nbsp;include the Marshall Islands registered vessel AVA J MCCALL, Official No.&nbsp;8292 (the &#147;<B>Ava J McCall Vessel</B>&#148;), which is owned by SEACOR Marine, and the United States registered vessel SEACOR
MIXTECA, Official No.&nbsp;1293917 (together with the Ava J McCall Vessel, the &#147;<B>2020 New Credit Support Vessels</B>&#148;), which is owned by SEACOR Offshore and SEACOR LB Offshore LLC (together with SEACOR Marine and SEACOR Offshore, the
&#147;<B>2020 New Vessel Owning Entities</B>&#148;), each of which will be a Credit Support Vessel, (c)&nbsp;amend the mandatory prepayment requirements, (d)&nbsp;amend certain restrictions relating to the Additional Credit Support Vessels, and
(e)&nbsp;amend certain financial covenants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Lenders have agreed to amend and modify certain terms and provisions of the
Credit Agreement and Parent Guaranty as set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises set forth above, the covenants
and agreements hereinafter set forth, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1. <U>Amendment of the Credit Agreement</U>. The parties hereto agree that: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">All references to &#147;this Agreement&#148; shall be deemed to refer to the Credit Agreement, as amended and
supplemented hereby, and each reference to the &#147;Credit Agreement&#148;, including any prior iteration thereof, in any Transaction Document shall be deemed to be a reference to the Credit Agreement as amended,