Commitment Confirmation Letter for Global Industries, Ltd. 364-Day Credit Facility – Banc One Capital Markets, Inc.

Summary

Banc One Capital Markets, Inc. confirms to Global Industries, Ltd. that it has secured lender commitments totaling $45 million for a proposed 364-day credit facility. The facility amount will be at least $30 million and up to $50 million, depending on the net proceeds from Global's equity issuance. This letter outlines the arrangement of the new credit facility and references an attached term sheet with further details. The agreement is signed by representatives of Bank One, NA and Banc One Capital Markets, Inc.

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EX-10.36 5 exhib10-36.txt BANC ONE CAPITAL MARKETS, INC. SYNDICATED LOANS DIVISION 1 Bank One Plaza Mail Suite 0429 Chicago, Illinois 60670-0429 Telephone: 312 ###-###-#### Fax: 312 ###-###-#### March 19, 2002 Global Industries, Ltd. 8000 Global Drive Carlyss, LA 70665-0442 Attn: Mr. Timothy W. Miciotto Senior Vice President and Chief Financial Officer Re: Global Industries, Ltd. Credit Facilities Dear Tim: Banc One Capital Markets, Inc. (the Arranger) hereby confirms that it has received executed commitment letters from lenders in an aggregate amount of $45,000,000 in respect of the proposed add-on 364-day credit facility (the New Credit Facility) described in the Term Sheet dated March 2002, attached hereto. As you know, the New Credit Facility shall be not less than $30,000,000 and not more than 0.60 times the net proceeds realized by Global Industries, Inc. (Global) from the Equity Issuance, but not to exceed $50,000,000. We appreciate have the opportunity to arrange the Amendment and the New Credit Facility for Global. BANK ONE, NA By: _____________________________________ Title:____________________________________ BANC ONE CAPITAL MARKETS, INC. By: _____________________________________ Title:____________________________________ March 19, 2002