SEC Contract Filing

Filing Date: 2024-05-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>icd-20240331xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 10.6.125.0--><!--Created on: 5/1/2024 07:10:59 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12.5pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;text-transform:uppercase;">AMENDMENT NO. 6 TO credit AGREEMENT</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:12.5pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="text-transform:uppercase;">This AMENDMENT NO. 6 TO credit AGREEMENT (</font>the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Amendment</u>&#8221;), is dated as of April 18, 2024 and is made by and among INDEPENDENCE CONTRACT DRILLING, INC., a Delaware corporation (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">ICD</u>&#8221;), SIDEWINDER DRILLING LLC, a Delaware limited liability company (formerly known as ICD Operating LLC, and successor by merger to Patriot Saratoga Merger Sub, LLC) (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">ICD Operating</u>&#8221;, and together with ICD, each a &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Borrower</u>&#8221; and collectively, &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Borrowers</u>&#8221;), WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for each member of the Lender Group and the Bank Product Providers &#160;(in such capacity, together with its successors and assigns in such capacity, &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Agent</u>&#8221;) and the Lenders party hereto.</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><font style="text-transform:uppercase;">Recitals</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:0pt;">Pursuant to that certain Credit Agreement, dated as of October 1, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Credit Agreement</u>&#8221;) by and among Borrowers, Agent and Lenders, Lenders have agreed to make certain financial accommodations available to Borrowers from time to time pursuant to the terms and conditions thereof (capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:0pt;">Borrowers have requested that Agent and Lenders agree to amend the Credit Agreement as set forth herein.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements herein contained, it is agreed as follows:</p><div style="font-family:'Times New Roman','Times','serif';font-size:12.5pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-size:11pt;min-width:36pt;text-indent:0pt;white-space:nowrap;">1.</font><a name="_Ref318992672"></a><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Interpretation</u><font style="font-size:11pt;">. For purposes of this Amendment, unless otherwise defined herein, all capitalized terms used herein which are defined in the Credit Agreement shall have respective meanings ascribed to such terms in the Credit Agreement. </font></div><div style="font-family:'Times New Roman','Times','serif';font-size:12.5pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-size:11pt;min-width:36pt;text-indent:0pt;white-space:nowrap;">2.</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Amendments to Credit Agreement</u><font style="font-size:11pt;">. As of the effective date of this Amendment, the Credit Agreement is amended as follows:</font></div><div style="font-family:'Times New Roman','Times','serif';font-size:12.5pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:72pt;"><font style="display:inline-block;font-size:11pt;min-width:36pt;text-inden