Common use of AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT Clause in Contracts

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Advances and the Letters of Credit. (a) The -------------------------------------- --- Revolving Credit Advances. Each Lender severally agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (such Lender's "Commitment"), provided that (i) the ---------- -------- Facility Usage shall not exceed the aggregate amount of the Commitments of the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"). The aggregate amount of each ------------------------- Lender's Advances outstanding at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender's Commitment, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 and reborrow under this Section 2.01(a).

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Advances and the Letters of Credit. (a) The -------------------------------------- --- Revolving Credit Working Capital Advances. Each Lender severally agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances advances (each a "WORKING CAPITAL ADVANCE") to the each Borrower from time to time on any Business Day during the period from the Effective Date date hereof until the Termination Date in an aggregate amount for each such Advance not to exceed at any time outstanding the amount set forth opposite lesser of (a) such Lender's name on the signature pages hereof or, if Unused Working Capital Commitment at such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment time and Acceptance, set forth for such Lender in the Register maintained by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (b) such Lender's "Commitment"), provided that (i) the ---------- -------- Facility Usage shall not exceed the aggregate amount Pro Rata Share of the Commitments Sublimit Availability under the Applicable Working Capital Sublimit of such Borrower; provided, that, the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent sum of the aggregate amount of all outstanding Working Capital Advances plus Total L/C Exposure shall not exceed the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"). The aggregate amount of each ------------------------- Lender's Advances outstanding Maximum Amount at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18time. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 1,000,000 or any whole an integral multiple thereof, in the case of a Borrowing consisting of Eurodollar Rate Advances, or $200,000 or an integral multiple of $1,000,000 100,000 in excess thereof thereof, in the case of Base Rate Advances (in each case, other than a Borrowing the proceeds of which shall be used solely to repay or prepay in full outstanding Letter of Credit Advances) and shall consist of Revolving Credit Working Capital Advances of the same Type made on the same day simultaneously by the Lenders ratably according to their respective Working Capital Commitments. Within the limits of each Lender's CommitmentUnused Working Capital Commitment in effect from time to time, and subject to the limits set forth above, each Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 2.06(a) and reborrow under this Section 2.01(a).

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Advances and the Letters of Credit. (a) The -------------------------------------- --- Revolving Credit Advances. Each Lender severally agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances advances (each a "REVOLVING CREDIT ADVANCE") to the Borrower from time to time on any Business Day during the period from the Effective Date date hereof until the Business Day proceeding the Termination Date in an aggregate amount for each such Advance not to exceed at any time outstanding the amount set forth opposite lesser of (a) such Lender's name on the signature pages hereof or, if Unused Revolving Commitment at such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment time and Acceptance, set forth for such Lender in the Register maintained by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (b) such Lender's "Commitment"), provided that (i) the ---------- -------- Facility Usage shall not exceed the aggregate amount Pro Rata Share of the Commitments of Sublimit Availability; provided, that the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent sum of the aggregate amount of all outstanding Revolving Credit Advances plus Total L/C Exposure shall not exceed the Competitive Bid Advances then outstanding and Maximum Amount or the Borrowing Base at any time, provided, further, that upon giving effect to each such deemed use Advance, there shall be no breach of the aggregate amount requirements of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"Section 5.03(e). The aggregate amount of each ------------------------- Lender's Advances outstanding at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 1,000,000 or any whole an integral multiple of $1,000,000 100,000 in excess thereof (other than a Borrowing the proceeds of which shall be used solely to repay or prepay in full outstanding Letter of Credit Advances) and shall consist of Revolving Credit Advances of the same Type made on the same day simultaneously by the Lenders ratably according to their respective Revolving Commitments. Within the limits of each Lender's CommitmentUnused Revolving Commitment in effect from time to time, and subject to the limits set forth above, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 2.06(a) and reborrow under this Section 2.01(a). (b) The Letters of Credit. Each Issuing Bank severally agrees, on the terms and conditions hereinafter set forth, to issue letters of credit (the "LETTERS OF CREDIT") for the account of the Borrower and for the account of their respective Subsidiaries, Affiliates and joint ventures from time to time on any Business Day during the period from the date hereof until 15 days before the Termination Date in an aggregate Available Amount (i) for all Letters of Credit issued by such Issuing Bank not to exceed at any time the lesser of (x) the Letter of Credit Facility at such time and (y) such Issuing Bank's Letter of Credit Commitment at such time and (ii) for each such Letter of Credit not to exceed the Available L/C Sublimit; provided, that the sum of Total L/C Exposure plus the aggregate amount of all outstanding Revolving Credit Advances shall not exceed the Maximum Amount or the Borrowing Base at any time, provided, further, that upon giving effect to the issuance of each such Letter of Credit, there shall be no breach of the requirement of Section 5.03(e). No Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than one year from the date of issuance of such Letter of Credit, but may by its terms be renewable annually for additional one-year periods if its initial term was for a period of one year, or otherwise, automatically unless such Issuing Bank has notified the Borrower (with a copy to the Administrative Agent) and the beneficiary of such Letter of Credit on or prior to the final date for notice of non-renewal set forth in such Letter of Credit but in any event at least 30 days prior to the date of automatic renewal of its election not to renew such Letter of Credit (a "NOTICE OF NON-RENEWAL"); provided that the terms of each Letter of Credit that is automatically renewable shall (x) require each Issuing Bank that issued such Letter of Credit to give the beneficiary named in such Letter of Credit Notice of Non-Renewal and (y) permit, according to the terms thereunder, such beneficiary, upon receipt of such notice, to draw under such Letter of Credit prior to the date such Letter of Credit otherwise would have been automatically renewed. Notwithstanding the TODCO - Omnibus Credit Agreement foregoing, no Letter of Credit shall have an expiration date later than the day fifteen (15) days prior to the first anniversary of the Termination Date. If a Notice of Non-Renewal is given by the relevant Issuing Bank as above provided, such Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed; provided, further, that any Letter of Credit may expire after the Termination Date if, at the time of issuance or renewal, as the case may be, of such Letter of Credit, such Letter of Credit is cash collateralized in an amount equal to the amount of such Letter of Credit plus any additional amounts owing under such Letter of Credit by the deposit of such amounts in a segregated cash collateral account maintained by the Collateral Agent. Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(b), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit under this Section 2.01(b).

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Advances and the Letters of Credit. Credit (a) The -------------------------------------- --- Revolving Credit Term Advances. . (i) Each Term A Lender severally agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances made advances (each a “Term A Advance”) to the Borrower from time Borrowers prior to time on any Business Day during the period from the Effective Date until under Section 2.01(a)(i) of the Termination Amendment and Restatement of the Credit Agreement in an aggregate amount equal to such Lender’s Term A Commitment. All Term A Advances outstanding immediately prior to the Effective Date have been prepaid in full on the Effective Date with the proceeds of the Term D Facility and may not be reborrowed. (ii) Each Term B Lender made incremental term B advances (each a “Term B Advance”) to the Borrowers prior to the Effective Date under Sections 2.01(a)(ii) and 2.05(c) of the Amendment and Restatement of the Credit Agreement in an aggregate amount equal to such Lender’s Term B Commitment. All Term B Advances outstanding immediately prior to the Effective Date have been prepaid in full on the Effective Date with the proceeds of the Term D Facility and may not be reborrowed. (iii) Each Term C Lender made a single incremental term C advance (each a “Term C Advance”) to the Borrowers prior to the Effective Date under Sections 2.01(a)(iii) and 2.05(c) of the Amendment and Restatement of the Credit Agreement in an aggregate amount equal to such Lender’s Term C Commitment. All Term C Advances outstanding immediately prior to the Effective Date have been prepaid in full on the Effective Date with the proceeds of the Term D Facility and may not be reborrowed. (iv) Each Term D Lender made a single term D advance (each a “Term D Advance”) to CBI on the Effective Date in an aggregate amount not equal to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment ’s Term D Commitment. The Term D Borrowing consists of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained Term D Advances made simultaneously by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (such Lender's "Commitment"), provided that (i) the ---------- -------- Facility Usage shall not exceed the aggregate amount of the Commitments of the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Term D Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"). The aggregate amount of each ------------------------- Lender's Advances outstanding at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Term D Commitments. Within the limits of each Lender's Commitment, the Borrower may borrow Amounts borrowed under this Section 2.01(a), prepay pursuant to Section 2.09 2.01(a)(iv) and reborrow under this Section 2.01(a)repaid or prepaid may not be reborrowed.

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Advances and the Letters of Credit.. -------------------------------------- (a) The -------------------------------------- --- Revolving Credit Advances. Each Lender severally ----------------------------- agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (such Lender's "Commitment"), provided that (i) the ---------- -------- the Facility Usage shall not exceed the aggregate amount of the Commitments of the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"). The ------------------------- aggregate amount of each ------------------------- Lender's Advances outstanding at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 10,000,000, in the case of Eurodollar Rate Advances, or any whole multiple $5,000,000, in the case of $1,000,000 in excess thereof Base Rate Advances and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender's Commitment, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 and reborrow under this Section 2.01(a).