AMENDMENT NO. 1 TO 364-DAY REVOLVING CREDIT AGREEMENT

 

AMENDMENT NO. 1 dated as of December 27, 2004 (this “Amendment”) to the Revolving Credit Agreement (as defined below) among HALLIBURTON COMPANY (the “Borrower”), the Banks (as defined in the Revolving Credit Agreement) party hereto, and CITICORP NORTH AMERICA, INC. (“CNAI”), as the Paying Agent thereunder (the “Agent”). Capitalized terms defined in the Revolving Credit Agreement and not otherwise defined herein being used herein as therein defined.

 

PRELIMINARY STATEMENTS:

 

(1)   The Borrower has entered into the 364-Day Revolving Credit Agreement dated as of July 14, 2004 (as amended or otherwise modified through the date hereof, the “Revolving Credit Agreement”) with the Banks party thereto, the Agent and the other agents named therein.

 

(2)   The Borrower, the Required Banks and the Agent have agreed to amend the Revolving Credit Agreement as hereinafter set forth.

 

NOW, THEREFORE, it is hereby agreed as follows:

 

SECTION 1.  Amendment to the Revolving Credit Agreement. The Revolving Credit Agreement is, effective as of the Amendment Effective Date (defined below), amended as follows:

 

(a)  The definition of “EBITDA” contained in Section 1.01 is hereby amended by inserting the following immediately after the words “excluding asbestos charges” in clause (d) thereof:

 

“, except that any charge related to the increase in the price of the Borrower’s common stock shall not be excluded”.

 

SECTION 2.  Effectiveness. This Amendment shall become effective as of the date first above written (the “Amendment Effective Date”) upon the satisfaction of the condition that the Agent shall have received counterparts of (a) this Amendment executed by the Borrower, the Agent and the Required Banks or, as to any of the Banks, advice satisfactory to the Agent that such Bank has executed this Amendment and (b) the consent in the for m attached hereto, duly executed by each Subsidiary Guarantor.

 

SECTION 3.  Effect on Revolving Credit Agreement. On and after the effectiveness of this Amendment, each reference in the Revolving Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Revolving Credit Agreement, and each reference in each other Loan Document to “the Revolving Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Revolving Credit Agreement, shall mean and be a reference to the Revolving Credit Agreement, as amended by this Amendment. The Revolving Credit Agreement, as specifically amended by this Amendment, is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Bank or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.

 

SECTION 4.  Payment of Fees. The Borrower agrees to pay on demand all reasonable out-of-pocket costs and expenses of the Agent in connection with the preparation, execution and delivery of this Amendment in accordance with the terms of Section 8.04(a)(i) of the Revolving Credit Agreement.

 

SECTION 5.  Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment.

 

SECTION 6.  Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.

 

[Remainder of Page Intentionally Left Blank]

 

IN WITNESS WHEREOF, the undersigned have each caused this Amendment to be executed and delivered by their respective duly authorized officer as of the date first above written.

 

* Bank signature pages omitted.

 

 

 

 

 

Reference is made to (a) Amendment No. 1 to 364-Day Revolving Credit Agreement dated as of December 27, 2004 (the “Amendment”; capitalized terms not otherwise defined herein are being used herein as defined in the Amendment and in the Revolving Credit Agreement, as defined hereunder), (b) the 364-Day Revolving Credit Agreement Agreement dated as of July 14, 2004 (the “Revolving Credit Agreement”), among HALLIBURTON COMPANY (the “Borrower”), the banks party thereto (collectively, the “Banks”), CITICORP NORTH AMERICA, INC. (“CNAI”), as the Paying Agent and as Co-Administrative Agent, JPMORGAN CHASE BANK, as Co-Administrative Agent, ABN AMRO BANK, N.V., as Syndication Agent, HSBC BANK USA, NATIONAL ASSOCIATION and THE ROYAL BANK OF SCOTLAND PLC, as Co-Documentation Agents, and CITIGROUP GLOBAL MARKETS INC. and J.P. MORGAN SECURITIES INC., as Co-Lead Arrangers, and (c) the other Loan Documents re ferred to therein.

 

The undersigned, in their capacity as Guarantors under the Subsidiary Guaranty, hereby consent to the execution, delivery and performance of the Amendment and agree that the Subsidiary Guaranty is, and shall continue to be, in full force and effect and is hereby in all respects ratified and confirmed on the Amendment Effective Date, except that, on and after the Amendment Effective Date, each reference to “the Credit Agreement”, “thereunder” , “thereof”, “therein” or words of like import referring to the Revolving Credit Agreement shall mean and be a reference to the Revolving Credit Agreement as amended and otherwise modified by the Amendment.

 

 

This Consent shall be governed by, and construed in accordance with, the laws of the State of New York.

 

Delivery of an executed counterpart of a signature page of this Consent by telecopier shall be effective as the delivery of a manually executed counterpart of this Consent.

 

 

               ATLANTIC MINERALS AND PRODUCTS CORPORATION

 

               BAROID INTERNATIONAL INC.

 

               BAROID SALES EXPORT CORPORATION

               BAROID/VIDCO, LLC

 

               HALLIBURTON INTERIM, INC.

 

               HALLIBURTON INTERNATIONAL, INC.

 

               HES FAR EAST, INC.

 

               HES HOLDING, INC.

 

               HES INDONESIA, INC.

 

               LANDMARK GRAPHICS CORPORATION

 

               HES MINERALS INTERNATIONAL, INC.

 

               MAGIC EARTH, INC.