SEC Contract Filing

Filing Date: 2016-08-31

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d253251dex101.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="right"><B>Execution Version </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIFTH
AMENDMENT TO FIFTH AMENDED </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND RESTATED CREDIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS FIFTH AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT</B> (herein called this &#147;<U>Fifth Amendment</U>&#148;), dated as
of August&nbsp;25, 2016 (the &#147;<U>Effective Date</U>&#148;), is entered into by and among <B>W&amp;T OFFSHORE, INC.</B>, a Texas corporation, as the borrower (the &#147;<U>Borrower</U>&#148;), the various financial institutions parties hereto,
as Lenders, <B>TORONTO DOMINION (TEXAS) LLC</B>, individually and as agent (in such capacity together with any successors thereto, the &#147;<U>Administrative Agent</U>&#148;) for the Lenders, and the issuers of letters of credit parties hereto, as
issuers (collectively, the &#147;<U>Issuers</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>W I T N E S S E T H </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Borrower, the lenders party thereto (collectively, the &#147;<U>Lenders</U>&#148;), the Administrative Agent, the Issuers
and the other parties thereto have heretofore executed that certain Fifth Amended and Restated Credit Agreement, dated as of November&nbsp;8,&nbsp;2013 (as amended, supplemented, amended and restated or otherwise modified from time to time, the
&#147;<U>Credit Agreement</U>&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the parties hereto hereby further intend to amend certain provisions of the
Credit Agreement, in each case on the terms and conditions set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, in consideration of the premises and
the mutual agreements herein contained, the undersigned hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Definitions</U>. Capitalized terms used herein
(including in the Recitals hereto) but not defined herein, shall have the meanings as given them in the Credit Agreement, unless the context otherwise requires. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Amendments to Credit Agreement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Section&nbsp;1.1 of the Credit Agreement is hereby amended by: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) adding the following definitions thereto in appropriate alphabetical order: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fifth Amendment</U>&#148; means the Fifth Amendment to Fifth Amended and Restated Credit Agreement dated as of August&nbsp;25, 2016,
among the Borrower, the Lenders party thereto, the Administrative Agent and the other Persons party thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fifth Amendment
Effective Date</U>&#148; means the date on which the conditions set forth in Section&nbsp;4 of the Fifth Amendment are satisfied or otherwise waived. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) By deleting the definitions of Exchange Conditions, Unsecured Exchange Notes and Unsecured Exchange Notes Indenture that were to become
effective </P>

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pursuant to the Fourth Amendment on the Fourth Amendment Effective Date and by amending the definitions of Exchange, Exchange Offer, Fourth Amendment Effective Date, 1.5 Lien Credit Agreement,
1.5 Lien Intercreditor Agreement, Revolving Loan Commitment, and Third Lien Exchange Notes Indenture, to the following in lieu of the definitions of such terms in the Fourth Amendment: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange</U>&#148; means the exchange of outstanding Bonds for (i)&nbsp;Secured Exchange Notes, (ii)&nbsp;Third Lien Exchange Notes
and (iii)&nbsp;shares of the Borrower, in each case, pursuant to the Exchange Offer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Offer</U>&#148; means the Offer to
Exchange any and all outstanding 8.500% Senior Notes due 2019 (CUSIP No.&nbsp;92922P AC0 / ISIN US92922PAC05) and Solicitation of Consents to Proposed Amendments to the Related Indenture dated July&nbsp;25, 2016, as amended by the Exchange Offer
Amendment dated August&nbsp;16, 2016, as further amended, modified or extended from time to time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size: