SEC Contract Filing

Filing Date: 2019-11-06

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>spn-20190930xex10_1.htm
<DESCRIPTION>EX-10.1
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 Exhibit 101
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 <a name="_GoBack"></a><font style="display: inline;">SECOND AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT</font>
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 <font style="display: inline;">THIS </font><font style="display: inline;font-weight:bold;">SECOND</font><font style="display: inline;">&nbsp;</font><font style="display: inline;font-weight:bold;">AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT </font><font style="display: inline;">(this &#x201C;</font><font style="display: inline;text-decoration:underline;">Amendment</font><font style="display: inline;">&#x201D;) is entered into as of September 20, 2019 by SESI, L.L.C., a limited liability company duly formed and existing under the laws of the State of Delaware (the &#x201C;</font><font style="display: inline;text-decoration:underline;">Borrower</font><font style="display: inline;">&#x201D;), Superior Energy Services, Inc., a corporation duly formed and existing under the laws of the State of Delaware (the &#x201C;</font><font style="display: inline;text-decoration:underline;">Parent</font><font style="display: inline;">&#x201D;) each of the undersigned Guarantors (together with the Borrower and Parent, the &#x201C;</font><font style="display: inline;text-decoration:underline;">Loan Parties</font><font style="display: inline;">&#x201D;), each of the undersigned Lenders, each Issuing Lender, the New Issuing Lender (as defined herein) and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders.</font>
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 <font style="display: inline;">R E C I T A L S</font>
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 <font style="display: inline;">A.</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">The Borrower, the Parent, the Administrative Agent, the Lenders and the Issuing Lenders are parties to that certain Fifth Amended and Restated Credit Agreement, dated as of October 20, 2017 (as amended by the First Amendment to Fifth Amended and Restated Credit Agreement, dated as of September 25, 2018, the &#x201C;</font><font style="display: inline;text-decoration:underline;">Credit Agreement</font><font style="display: inline;">&#x201D;), pursuant to which the Lenders and Issuing Lenders have made certain credit available to and on behalf of the Borrower. </font>
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 <font style="display: inline;">B.</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">The Borrower has requested that Wells Fargo Bank, National Association (&#x201C;</font><font style="display: inline;text-decoration:underline;">Wells Fargo</font><font style="display: inline;">&#x201D;) become an Issuing Lender and Wells Fargo agrees to become an Issuing Lender under the Credit Agreement with an initial L/C Commitment of $30,000,000. </font>
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 <font style="display: inline;">C.</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">The Borrower has requested that Citibank, N.A. (&#x201C;</font><font style="display: inline;text-decoration:underline;">Citibank</font><font style="display: inline;">&#x201D;) increase, and Citibank agrees to increase, its L/C Commitment to $30,000,000. </font>
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 <font style="display: inline;">D</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">The Borrower has requested and the Administrative Agent, Issuing Lenders and Lenders constituting the Required Lenders have agreed to make certain other changes to the Credit Agreement as set forth herein.</font>
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 <font style="display: inline;">E. </font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">NOW, THEREFORE, to induce the Administrative Agent, the Issuing Lenders and the Lenders party hereto to enter into this Amendment and in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</font>
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