SEC Contract Filing

Filing Date: 2015-07-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>amendment3tocreditagreement.htm
<DESCRIPTION>EXHIBIT 10.1 AMENDMENT 3 TO CREDIT AGREEMENT
<TEXT>
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<a name="s8adb26d5cf06443c948c25188434991b"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:9pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Execution Version</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AMENDMENT NO. 3 TO CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This AMENDMENT NO. 3 TO CREDIT AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is entered into as of June 30, 2015 by and among Weatherford International Ltd., a Bermuda exempted company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">WIL</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Weatherford International plc, an Irish public limited company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">WIL&#8209;Ireland</font><font style="font-family:inherit;font-size:12pt;">&#8221;) (successor by assumption to Weatherford International Ltd., a Swiss joint stock corporation), WEATHERFORD LIQUIDITY MANAGEMENT HUNGARY LIMITED LIABILITY COMPANY, a Hungarian limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">HOC</font><font style="font-family:inherit;font-size:12pt;">&#8221;), WEATHERFORD CAPITAL MANAGEMENT SERVICES LIMITED LIABILITY COMPANY, a Hungarian limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">WCMS</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with WIL, WIL-Ireland and HOC, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Obligor Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221;), WEATHERFORD INTERNATIONAL, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">WILLC</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with the Obligor Parties, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Obligors</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the Lenders listed on the signature pages attached hereto, JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Administrative Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and the Issuing Banks.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">RECITALS</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, reference is made to that certain Credit Agreement dated as of October&#160;15,&#160;2010 by and among the Obligor Parties, the lenders named therein, the Administrative Agent, the Issuing Banks and certain other parties named therein (as heretofore amended, supplemented or otherwise modified, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;);</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Borrowers desire to extend the Maturity Date under the Credit Agreement by one year from the existing Maturity Date (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Maturity Date Extension</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and maintain the Aggregate Commitments at the same amount as prior to giving effect to the Maturity Date Extension;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-heigh