Common use of Global Industries Clause in Contracts

Global Industries. Ltd., a Louisiana corporation (the "Parent Borrower"), and Global Offshore, S. de X.X. de C.V., a Mexican sociedad de responsabilidad limitada de capital variable (the "Mexican Borrower" and, together with the Parent Borrower, the "Borrowers"), have entered into a Second Amended and Restated Credit Agreement dated as of April ___, 2002 (as amended, modified, supplemented or restated from time to time, the "Credit Agreement," the defined terms of which are used in this Security Agreement unless otherwise defined herein) together with the lenders party thereto (the "Lenders") and Bank One, NA, as administrative agent ("Administrative Agent") for the Lenders, providing for the making of Advances by the Lenders and the Swingline Bank, and the issuance of Letters of Credit by the Issuing Bank.

Global Industries. Ltd., a Louisiana corporation (the "'Parent Borrower"'), and Global OffshoreOffshore Mexico, S. de X.X. R.L. de C.V., a Mexican sociedad de responsabilidad limitada de capital variable (the "'Mexican Borrower" ' and, together with the Parent Borrower, the "Borrowers"'Borroxxxx'), have entered into a Second Amended and Restated Credit Agreement dated as of April ___March 9, 2002 2004 (as amended, modified, supplemented or restated from time to time, the "'Credit Agreement," , ' the defined terms of which are used in this Security Agreement Guaranty unless otherwise defined herein) together with the lenders party thereto (the "'Lenders") '), and Bank One, NACredit Lyonnais New York Branch, as administrative agent ("'Administrative Agent"') for the Lenders, providing for the making of Advances by the Lenders and the Swingline Bank, and the issuance of Letters of Credit by the Issuing Bank.

Global Industries. Ltd., a Louisiana corporation (the "'Parent Borrower"'), and Global OffshoreOffshore Mexico, S. de X.X. R.L. de C.V., a Mexican sociedad de responsabilidad limitada de capital variable (the "'Mexican Borrower" ' and, together with the Parent Borrower, the "Borrowers"'Borroxxxx'), have entered into a Second Amended and Restated Credit Agreement dated as of April ___March 9, 2002 2004 (as amended, modified, supplemented or restated from time to time, the "'Credit Agreement," ' the defined terms of which are used in this Security Pledge Agreement unless otherwise defined herein) together with the lenders party thereto (the "'Lenders") '), and Bank One, NACredit Lyonnais New York Branch, as administrative agent ("'Administrative Agent"') for the Lenders, providing for the making of Advances by the Lenders and the Swingline Bank, and the issuance of Letters of Credit by the Issuing Bank.

Global Industries. Ltd., a Louisiana corporation (the "Parent Borrower"), and Global OffshoreOffshore Mexico, S. de X.X. de C.V., a Mexican sociedad de responsabilidad limitada de capital variable (the "Mexican Borrower" and, together with the Parent Borrower, the "Borrowers"), have entered into a Second Amended and Restated Credit Agreement dated as of April ___, 2002 (as amended, modified, supplemented or restated from time to time, the "Credit Agreement,, " the defined terms of which are used in this Security Agreement Guaranty unless otherwise defined herein) together with the lenders party thereto (the "Lenders") ), and Bank One, NA, as administrative agent ("Administrative Agent") for the Lenders, providing for the making of Advances by the Lenders and the Swingline Bank, and the issuance of Letters of Credit by the Issuing Bank.

Global Industries. Ltd., a Louisiana corporation (the "'Parent Borrower"'), and Global Offshore, S. de X.X. R.L. de C.V., a Mexican sociedad de responsabilidad limitada de capital variable (the "'Mexican Borrower" ' and, together with the Parent Borrower, the "Borrowers"'Borroxxxx'), have entered into a Second Amended and Restated Credit Agreement dated as of April ___March 9, 2002 2004 (as amended, modified, supplemented or restated from time to time, the "'Credit Agreement," ' the defined terms of which are used in this Security Agreement unless otherwise defined herein) together with the lenders party thereto (the "'Lenders"') and Bank One, NACredit Lyonnais New York Branch, as administrative agent ("'Administrative Agent"') for the Lenders, providing for the making of Advances by the Lenders and the Swingline Bank, and the issuance of Letters of Credit by the Issuing Bank.

Global Industries. Ltd., a Louisiana corporation (the "Parent Borrower"), and Global OffshoreOffshore Mexico, S. de X.X. de C.V., a Mexican sociedad de responsabilidad limitada de capital variable (the "Mexican Borrower" and, together with the Parent Borrower, the "Borrowers"), have entered into a Second Amended and Restated Credit Agreement dated as of April ___, 2002 (as amended, modified, supplemented or restated from time to time, the "Credit Agreement," the defined terms of which are used in this Security Pledge Agreement unless otherwise defined herein) together with the lenders party thereto (the "Lenders") ), and Bank One, NA, as administrative agent ("Administrative Agent") for the Lenders, providing for the making of Advances by the Lenders and the Swingline Bank, and the issuance of Letters of Credit by the Issuing Bank.