WAIVERWaiver • May 18th, 2011 • Deep Down, Inc. • Oil & gas field machinery & equipment
THIS WAIVER (this “Waiver”) is entered into as of May 10, 2011 and effective as of March 31, 2011 (the “Effective Date”), between DEEP DOWN, INC., a Nevada corporation (“Borrower”), and WHITNEY NATIONAL BANK, a national banking association (the “Lender”). Capitalized terms used but not defined in this Waiver have the meanings given them in the Credit Agreement (defined below).
