EIGHTH AMENDMENT TO CREDIT AGREEMENT

EX-10.1 2 c94914exv10w1.htm EXHIBIT 10.1 Exhibit 10.1
Exhibit 10.1
Execution Copy
EIGHTH AMENDMENT TO CREDIT AGREEMENT
EIGHTH AMENDMENT TO CREDIT AGREEMENT (this “Eighth Amendment”), dated as of January 15, 2010, by and among TRICO MARINE SERVICES, INC., a Delaware corporation (the “Borrower”), TRICO MARINE ASSETS, INC., a Delaware corporation (“Trico Assets”), as a Guarantor, and TRICO MARINE OPERATORS, INC., a Louisiana corporation (“Trico Operators”), as a Guarantor, the Lenders party hereto (each, a “Lender” and, collectively, the “Lenders”) and NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Administrative Agent (in such capacity, the “Administrative Agent”) and Collateral Agent (in such capacity, the “Collateral Agent”). Unless otherwise indicated, all capitalized terms used herein and not otherwise defined shall have the respective meanings provided such terms in the Credit Agreement referred to below.
W I T N E S S E T H :
WHEREAS, the Borrower, Trico Assets, Trico Operators, the Lenders from time to time party thereto, and the Administrative Agent are parties to an Amended and Restated Credit Agreement, dated as of August 29, 2008, and amended by (i) the First Amendment to Credit Agreement, dated as of March 10, 2009, (ii) the Second Amendment to Credit Agreement dated as of May 8, 2009, (iii) the Third Amendment to Credit Agreement dated as of May 14, 2009, (iv) the Fourth Amendment and Consent to Credit Agreement dated as of July 29, 2009, (v) the Fifth Amendment to Credit Agreement dated as of August 5, 2009, (vi) the Sixth Amendment to Credit Agreement dated as of October 30, 2009 and (vii) the Seventh Amendment to Credit Agreement dated as of December 22, 2009 (the “Credit Agreement”);
WHEREAS, subject to the terms and conditions of this Eighth Amendment, the parties hereto wish to amend certain provisions of the Credit Agreement as herein provided;
NOW, THEREFORE, it is agreed:
I. Amendments to Credit Agreement.
1. The definition of “Total Unutilized Revolving Loan Commitment” appearing in Section 1 of the Credit Agreement is hereby amended by deleting the text “Total Available Commitment” appearing in said definition and inserting the text “Total Commitment” in lieu thereof.
II. Miscellaneous Provisions.
1. In order to induce the Lenders to enter into this Eighth Amendment, the Borrower hereby represents and warrants that (i) no Default or Event of Default exists as of the Eighth Amendment Effective Date (as defined herein) before or after giving effect to this Eighth Amendment and (ii) all of the representations and warranties contained in the Credit Agreement or the other Credit Documents are true and correct in all material respects on the Eighth Amendment Effective Date both before and after giving effect to this Eighth Amendment, with the same effect as though such representations and warranties had been made on and as of the

 

 


 

Eighth Amendment Effective Date (it being understood that any representation or warranty made as of a specific date shall be true and correct in all material respects as of such specific date).
2. The Credit Agreement is modified only by the express provisions of this Eighth Amendment and this Eighth Amendment shall not constitute a modification, acceptance or waiver of any other provision of the Credit Agreement or any other Credit Document except as specifically set forth herein.
3. This Eighth Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts shall be lodged with the Borrower and the Administrative Agent.
4. THIS EIGHTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
5. This Eighth Amendment shall become effective on the date (the “Eighth Amendment Effective Date”) when the Borrower, each other Credit Party and the Required Lenders shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered (including by way of facsimile or other electronic transmission) the same to White & Case LLP, 1155 Avenue of the Americas, New York, NY 10036; Attention: May Yip (facsimile number: 212 ###-###-#### / email: ***@***).
6. From and after the Eighth Amendment Effective Date, all references in the Credit Agreement and each of the other Credit Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement, as modified hereby.
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IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver this Eighth Amendment as of the date first above written.
         
  NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Administrative Agent
 
 
  By:   /s/ Martin Lunder    
    Name:   Martin Lunder   
    Title:   Senior Vice President   
 
         
     
  By:   /s/ Martin Kahm    
    Name:   Martin Kahm   
    Title:   Vice President   
 

Signature page to Trico $50mm Eighth Amendment

 

 


 

SIGNATURE PAGE TO THE EIGHTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE, AMONG TRICO MARINE SERVICES, INC., TRICO MARINE ASSETS INC., TRICO MARINE OPERATORS, INC., VARIOUS FINANCIAL INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT
NAME OF INSTITUTION:
         
  NORDEA BANK NORGE ASA, CAYMAN ISLANDS BRANCH, as a Lender
 
 
  By:   /s/ Martin Lunder    
    Name:   Martin Lunder   
    Title:   Senior Vice President   
 
         
     
  By:   /s/ Martin Kahm   
    Name:   Martin Kahm   
    Title:   Vice President   
 

Signature page to Trico $50mm Eighth Amendment

 

 


 

         
  TRICO MARINE SERVICES, INC.
 
 
  By:   /s/ Geoff Jones    
    Name:   Geoff Jones   
    Title:   SVP & CFO   
 

Signature page to Trico $50mm Eighth Amendment