BACKSTOP COMMITMENT AGREEMENT AMONG WEATHERFORD INTERNATIONAL PLC THE OTHER DEBTORS AND THE COMMITMENT PARTIES PARTY HERETO Dated as of July 1, 2019Backstop Commitment Agreement • July 2nd, 2019 • Weatherford International PLC • Oil & gas field machinery & equipment • New York
THIS BACKSTOP COMMITMENT AGREEMENT (this “Agreement”), dated as of July 1, 2019, is made by and among Weatherford International Plc, an Irish public limited company (including as debtor in possession and a reorganized debtor, as applicable, the “Company”), and each of the other Debtors (as defined below), on the one hand, and each Commitment Party (as defined below), on the other hand. The Company, the other Debtors and each Commitment Party is referred to herein, individually, as a “Party” and, collectively, as the “Parties”. Capitalized terms that are used but not otherwise defined in this Agreement shall have the meanings given to them in Section 1.1 hereof or, if not defined therein, shall have the meanings given to them in the Plan (as defined below).
ContractRevolving Credit Forbearance Agreement • July 2nd, 2019 • Weatherford International PLC • Oil & gas field machinery & equipment • New York
This 364-DAY REVOLVING CREDIT FORBEARANCE AGREEMENT (as may be amended, supplemented or otherwise modified, this “Agreement”), dated as of July 1, 2019, is by and among WEATHERFORD INTERNATIONAL LTD., a Bermuda exempted company (“WIL-Bermuda”), WEATHERFORD INTERNATIONAL PLC, an Irish public limited company (“WIL-Ireland”), the other subsidiaries of WIL-Ireland party hereto (collectively with WIL-Bermuda, the “Borrowers” and the Borrowers collectively with WIL-Ireland, the “Obligors”), the Lenders (as defined below) party hereto and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and MORGAN STANLEY SENIOR FUNDING, INC., as collateral agent for the Lenders (in such capacity, the “Collateral Agent”).
FIRST AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENTRestructuring Support Agreement • July 2nd, 2019 • Weatherford International PLC • Oil & gas field machinery & equipment
This FIRST AMENDMENT (this “First Amendment”) to the Restructuring Support Agreement, dated as of May 10, 2019, by and among: (i) the Debtors (as defined therein) and (ii) the Consenting Noteholders (as defined therein) (together with the schedules, annexes and exhibits (including the term sheets) attached thereto, the “Restructuring Support Agreement”), is being entered into as of July 1, 2019, by and among (i) the Debtors and (ii) the Required Consenting Noteholders (as defined in the Restructuring Support Agreement). This First Amendment collectively refers to the Debtors and the Required Consenting Noteholders as the “Parties” and each individually as a “Party.” Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Restructuring Support Agreement.
CONSENT TO SWAP AGREEMENT TERMINATION FORBEARANCESwap Agreement Termination Forbearance • July 2nd, 2019 • Weatherford International PLC • Oil & gas field machinery & equipment • New York
This CONSENT TO SWAP AGREEMENT TERMINATION FORBEARANCE, dated as of July 1, 2019 (this “Agreement”), is made by and among Weatherford International Ltd., an exempted company duly formed and existing under the laws of Bermuda (“WIL-Bermuda”), and each of the undersigned swap agreement counterparties (the “Consenting Swap Counterparties”). Capitalized terms used herein but not defined herein shall have the meanings ascribed to them in the Subject Swap Agreements or DIP Credit Agreement referenced below.
ContractForbearance Agreement • July 2nd, 2019 • Weatherford International PLC • Oil & gas field machinery & equipment • New York
This FORBEARANCE AGREEMENT (as may be amended, supplemented or otherwise modified, this “Agreement”), dated as of July 1, 2019, is by and among WEATHERFORD INTERNATIONAL LTD., a Bermuda exempted company (“WIL-Bermuda”), WOFS ASSURANCE LIMITED, a Bermuda exempted company (“WOFS”, and together with WIL-Bermuda, the “Borrowers”), WEATHERFORD INTERNATIONAL PLC, an Irish public limited company (“WIL-Ireland”), each of the Guarantors in their capacities as such (together with the Borrowers and WIL-Ireland, the “Obligors”), the Lenders (as defined below) party hereto from time to time and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and the Issuing Banks party hereto from time to time.
ContractTerm Loan Forbearance Agreement • July 2nd, 2019 • Weatherford International PLC • Oil & gas field machinery & equipment • New York
This TERM LOAN FORBEARANCE AGREEMENT (as may be amended, supplemented or otherwise modified, this “Agreement”), dated as of July 1, 2019, is by and among WEATHERFORD INTERNATIONAL LTD., a Bermuda exempted company (the “Borrower”), WEATHERFORD INTERNATIONAL PLC, an Irish public limited company (“WIL-Ireland”), the other subsidiaries of WIL-Ireland party hereto (collectively with the Borrower and WIL-Ireland, the “Obligors”), the Lenders (as defined below) party hereto and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).
