Collateral Agent Direction. The Administrative Agent (on behalf of the Required Lenders) hereby authorizes and directs the Collateral Agent to execute and deliver this Sixth Amendment, any Collateral Documents in connection therewith and any releases contemplated by Section 6 hereof. -8- EXECUTED to be effective as of the date first above written. By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇▇ Title: Corporate Secretary By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By: /s/ R. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: R. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Authorized Signatory By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Director CITIBANK, N.A., as Administrative Agent By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Vice President CITIBANK, N.A., as Collateral Agent By:/s/ ▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇ Title: Senior Trust Officer [Lender signature pages on file with the Administrative Agent] NAME OF LENDER:_____________________________ EXISTING COMMITMENTS:$_____________________________ SIGNATUREBy_____________________________ Name: Title: [For Lenders requiring a second signature block] By_____________________________ Name: Title: The above-named Lender elects to: 1 - CONSENT TO EXTENSION, GENERAL AMENDMENTS, COLLATERAL SWAP AND THE COMMITMENT REDUCTION: ◻ Consent and agree to (i) have 100% of the outstanding principal amount of such Lender’s Existing Commitments reclassified as Extended 2028 Commitments for all purposes under the Amended Credit Agreement and (ii) the General Amendments, the Collateral Swap and the Commitment Reduction. 2 - CONSENT TO GENERAL AMENDMENTS, COLLATERAL SWAP AND THE COMMITMENT REDUCTION: ◻ Consent and agree to the General Amendments, the Collateral Swap and the Commitment Reduction only. Capitalized terms used in this Consent but not defined herein shall have the meanings assigned to such terms in Sixth Amendment to Credit Agreement, among Transocean Inc., a Cayman Islands exempted company, Citibank, N.A., as administrative agent for the Lenders under the Credit Agreement, and the other persons party thereto. ARTICLE 1 DEFINITIONS; INTERPRETATION. 6 Section 1.1Definitions 6 Section 1.2Time of Day 50 Section 1. 3Terms Generally 50 Section 1.4Accounting Terms; GAAP 50 Section 1.5Divisions 50 ARTICLE 2 THE CREDIT FACILITY. 51 Section 2.1Commitments for Revolving Loans 51 Section 2.2Types of Loans and Minimum Borrowing Amounts 51 Section 2.3Manner of Borrowings; Continuations and Conversions of Borrowings 51 Section 2.4Interest Periods 53 Section 2.5Funding of Loans 53 Section 2.6Applicable Interest Rates and Payments 54 Section 2.7Default Rate 55 Section 2.8Repayment of Loans; Evidence of Debt 56 Section 2.9Optional Prepayments 57 Section 2.10Mandatory Prepayments of Loans 58 Section 2.11Breakage Costs 59 Section 2.12Letters of Credit 59 Section 2.13Commitment Reductions and Terminations 65 Section 2.14Defaulting Lenders 66 Section 2.15[Reserved] 68 Section 2.16Extensions of Commitment Termination Date 68 Section 2.17Increase in Revolving Credit Commitments 69 ARTICLE 3 FEES AND PAYMENTS. 71 Section 3.1Fees 71 Section 3.2Place and Application of Payments 72 Section 3.3Taxes 73 ARTICLE 4 CONDITIONS PRECEDENT. 77 Section 4.1Conditions for Effectiveness 77 Section 4.2Conditions for All Borrowings 80 ARTICLE 5 REPRESENTATIONS AND WARRANTIES. 81 Section 5.1Corporate Organization 81 Section 5.2Power and Authority; Validity 82 Section 5.3No Violation 82 Section 5.4Litigation 82 Section 5.5Use of Proceeds; Margin Regulations 82 Section 5. 6Investment Company Act 83 Section 5.7True and Complete Disclosure 83 Section 5.8Financial Statements 83 Section 5.9No Material Adverse Change 83 Section 5.10Taxes 83 Section 5.11Consents 83 Section 5.12Insurance 84 Section 5.13Intellectual Property 84 Section 5.14Ownership of Property 84 Section 5.15Existing Indebtedness 84 Section 5.16Existing Liens 84 Section 5.17Employee Benefit Plans 85 Section 5.18Anti-Corruption Laws and Sanctions 85 Section 5.19Compliance with Certain Laws 86 Section 5.20Solvency 86 Section 5.21Concerning the Collateral Rigs 86 Section 5.22Form of Documentation 87 Section 5.23Affected Financial Institutions 87 ARTICLE 6 COVENANTS. 87 Section 6.1Corporate Existence 87 Section 6.2Maintenance 88 Section 6.3Taxes 88 Section 6.4ERISA 88 Section 6.5Insurance 89 Section 6.6Financial Reports and Other Information 90 Section 6.7Lender Inspection Rights 93 Section 6.8Conduct of Business 93 Section 6.9Use of Proceeds; Margin Regulations; Borrower Activities 94 Section 6.10Restrictions on Fundamental Changes 95 Section 6.11Liens 97 Section 6.12Subsidiary Indebtedness 100 Section 6.13Use of Property and Facilities; Environmental Laws 102 Section 6.14Transactions with Affiliates 102 Section 6.15Sale and Leaseback Transactions 103 Section 6.16Compliance with Laws; Policies and Procedures 103 Section 6. 17Collateral Rig Classifications; Operation of Collateral Rig 103
Appears in 1 contract
Sources: Credit Agreement (Transocean Ltd.)
Collateral Agent Direction. The Administrative Agent (on behalf of the Required Lenders) hereby authorizes and directs the Collateral Agent to execute and deliver this Sixth Amendment, Fifth Amendment and any Collateral Documents in connection therewith and any releases contemplated by Section 6 hereoftherewith. -8- EXECUTED to be effective as of the date first above written. By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title:President By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇▇ Title: Corporate Secretary By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇ Title:Director By:/s/ ▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇ Title:Director By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇ Title:Managing Director By:/s/ Eamonn ▇▇▇▇ ▇’▇▇▇ Name: Eamonn ▇▇▇▇ ▇’▇▇▇ Title: Managing Director By: /s/ ▇▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇ Title:Managing Director By:/s/ Eamonn ▇▇▇▇ ▇’▇▇▇ Name: Eamonn ▇▇▇▇ ▇’▇▇▇ Title: Managing Director By: /s/ ▇▇▇▇▇ Tonnel Name: ▇▇▇▇▇ Tonnel Title:Senior Vice President, Chief Accounting Officer By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇ Title:Director By:/s/ ▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇ Title:Director By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇ Title:Managing Director By:/s/ ▇▇▇▇▇▇ ▇’▇▇▇ Name: ▇▇▇▇▇▇ ▇’▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By: /s/ Yves Nerrisson Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title:Authorized Signatory By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: President CITIBANK, N.A., as Administrative Agent, an Issuing Bank and a Lender By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Vice President CITIBANK, N.A., as Collateral Agent By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Title: Senior Trust Officer ▇▇▇▇▇ Fargo Bank, National Association, as an Issuing Bank By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Managing Director DNB BANK ASA, NEW YORK BRANCH, as an Issuing Bank By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title: Senior Vice President Crédit Agricole Corporate and Investment Bank, as an Issuing Bank By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President Managing Director By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇ Page Dillehunt Name: ▇▇▇▇▇▇ ▇▇▇▇▇ Title: Corporate Secretary By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Page Dillehunt Title: Managing Director By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By:/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Managing Director By: /s/ R. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: R. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Authorized Signatory By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: President By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Director By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Director CITIBANK, N.A., as Administrative Agent By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Vice President CITIBANK, N.A., as Collateral Agent By:/s/ ▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇ Title: Senior Trust Officer [Lender signature pages on file with the Administrative Agent] NAME OF LENDER:_____________________________ EXISTING COMMITMENTS:$_____________________________ SIGNATUREBy_____________________________ Name: Title: [For Lenders requiring a second signature block] By_____________________________ Name: Title: The above-named Lender elects to: 1 - CONSENT TO EXTENSION, GENERAL AMENDMENTS, COLLATERAL SWAP AMENDMENTS AND THE COMMITMENT REDUCTION: ◻ Consent and agree to (i) have 100% of the outstanding principal amount of such Lender’s Existing Commitments reclassified as Extended 2028 2025 Commitments for all purposes under the Amended Credit Agreement and (ii) the General Amendments, the Collateral Swap Amendments and the Commitment Reduction. 2 - CONSENT TO GENERAL AMENDMENTS, COLLATERAL SWAP AMENDMENTS AND THE COMMITMENT REDUCTION: ◻ Consent and agree to the General Amendments, the Collateral Swap Amendments and the Commitment Reduction only. Capitalized terms used in this Consent but not defined herein shall have the meanings assigned to such terms in Sixth Fifth Amendment to Credit Agreement, among Transocean Inc., a Cayman Islands exempted company, Citibank, N.A., as administrative agent for the Lenders under the Credit Agreement, and the other persons party thereto. ARTICLE 1 DEFINITIONS; INTERPRETATION. 6 Section 1.1Definitions 6 Section 1.2Time of Day 50
Section 1. 3Terms Generally 50 Section 1.4Accounting Terms; GAAP 50 Section 1.5Divisions 50 ARTICLE 2 THE CREDIT FACILITY. 51 Section 2.1Commitments for Revolving Loans 51 Section 2.2Types of Loans and Minimum Borrowing Amounts 51 Section 2.3Manner of Borrowings; Continuations and Conversions of Borrowings 51 Section 2.4Interest Periods 53 Section 2.5Funding of Loans 53 Section 2.6Applicable Interest Rates and Payments 54 Section 2.7Default Rate 55 Section 2.8Repayment of Loans; Evidence of Debt 56 Section 2.9Optional Prepayments 57 Section 2.10Mandatory Prepayments of Loans 58 Section 2.11Breakage Costs 59 Section 2.12Letters of Credit 59 Section 2.13Commitment Reductions and Terminations 65 Section 2.14Defaulting Lenders 66 Section 2.15[Reserved] 68 Section 2.16Extensions of Commitment Termination Date 68 Section 2.17Increase in Revolving Credit Commitments 69 ARTICLE 3 FEES AND PAYMENTS. 71 Section 3.1Fees 71 Section 3.2Place and Application of Payments 72 Section 3.3Taxes 73 ARTICLE 4 CONDITIONS PRECEDENT. 77 Section 4.1Conditions for Effectiveness 77 Section 4.2Conditions for All Borrowings 80 ARTICLE 5 REPRESENTATIONS AND WARRANTIES. 81 Section 5.1Corporate Organization 81 Section 5.2Power and Authority; Validity 82 Section 5.3No Violation 82 Section 5.4Litigation 82 Section 5.5Use of Proceeds; Margin Regulations 82
Section 5. 6Investment Company Act 83 Section 5.7True and Complete Disclosure 83 Section 5.8Financial Statements 83 Section 5.9No Material Adverse Change 83 Section 5.10Taxes 83 Section 5.11Consents 83 Section 5.12Insurance 84 Section 5.13Intellectual Property 84 Section 5.14Ownership of Property 84 Section 5.15Existing Indebtedness 84 Section 5.16Existing Liens 84 Section 5.17Employee Benefit Plans 85 Section 5.18Anti-Corruption Laws and Sanctions 85 Section 5.19Compliance with Certain Laws 86 Section 5.20Solvency 86 Section 5.21Concerning the Collateral Rigs 86 Section 5.22Form of Documentation 87 Section 5.23Affected Financial Institutions 87 ARTICLE 6 COVENANTS. 87 Section 6.1Corporate Existence 87 Section 6.2Maintenance 88 Section 6.3Taxes 88 Section 6.4ERISA 88 Section 6.5Insurance 89 Section 6.6Financial Reports and Other Information 90 Section 6.7Lender Inspection Rights 93 Section 6.8Conduct of Business 93 Section 6.9Use of Proceeds; Margin Regulations; Borrower Activities 94 Section 6.10Restrictions on Fundamental Changes 95 Section 6.11Liens 97 Section 6.12Subsidiary Indebtedness 100 Section 6.13Use of Property and Facilities; Environmental Laws 102 Section 6.14Transactions with Affiliates 102 Section 6.15Sale and Leaseback Transactions 103 Section 6.16Compliance with Laws; Policies and Procedures 103
Section 6. 17Collateral Rig Classifications; Operation of Collateral Rig 1034550
Appears in 1 contract
Sources: Credit Agreement (Transocean Ltd.)