SESI, L.L.C.
EXHIBIT 10.2
$400,000,000
SESI, L.L.C.
1.50% Senior Exchangeable Notes due 2026
December 12, 2006
BEAR, XXXXXXX & CO. INC.
XXXXXX BROTHERS INC.
X.X. XXXXXX SECURITIES INC.
c/o Bear, Xxxxxxx & Co. Inc.
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
XXXXXX BROTHERS INC.
X.X. XXXXXX SECURITIES INC.
c/o Bear, Xxxxxxx & Co. Inc.
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Ladies and Gentlemen:
This Registration Rights Agreement (the “Agreement”) is made and entered into as of December
12, 2006, by and among SESI, L.L.C., a Delaware limited liability company (“SESI”), and Superior
Energy Services, Inc., a Delaware corporation (“Superior Energy” and along with SESI referred to as
the “Issuers”), the guarantors named on the signature pages hereof (the “Guarantors”), and Bear,
Xxxxxxx & Co. Inc. acting on behalf of the several parties (the “Initial Purchasers”) named in
Schedule I to that certain Purchase Agreement, dated as of December 7, 2006 (the “Purchase
Agreement”) among the Issuers, the Guarantors and you, as the Initial Purchasers.
As an inducement to the Initial Purchasers to enter into the Purchase Agreement and in
satisfaction of a condition to the obligations of the Initial Purchasers thereunder, the Issuers
and the Guarantors agree with the Initial Purchasers, for the benefit of the holders (including the
Initial Purchasers) of the Notes and the Shares (as defined below) (collectively, the “Holders”),
as follows:
1. Certain Definitions.
For purposes of this Agreement, the following terms shall have the following meanings:
(a) “Additional Interest” has the meaning assigned thereto in Section 2(d).
(b) “Additional Interest Payment Date” has the meaning assigned thereto in
Section 2(d).
(c) “Agreement” means this Registration Rights Agreement, as the same may be
amended from time to time pursuant to the terms hereof.
(d) “Closing Date” means the earliest date on which any Notes are initially
issued.
(e) “Commission” means the Securities and Exchange Commission, or any other
federal agency at the time administering the Exchange Act or the Securities Act,
whichever is the relevant statute for the particular purpose.
(f) “Dealer” shall have the meaning assigned thereto in Section 2(a).
(g) “Deferral Notice” has the meaning assigned thereto in Section 3(b).
(h) “Deferral Period” has the meaning assigned thereto in Section 3(b).
(i) “Effective Period” has the meaning assigned thereto in Section 2(a).
(j) “Exchange Act” means the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder.
(k) “Holder” means each holder, from time to time, of Registrable Securities
(including the Initial Purchasers).
(l) “Indenture” means the Indenture dated as of the date hereof among the
Issuers , the Guarantors and The Bank of New York Trust Company, N.A., as
Trustee, pursuant to which the Notes are being issued.
(m) “Initial Purchasers” has the meaning specified in the first paragraph of
this Agreement.
(n) “Issuers” has the meaning specified in the first paragraph of this
Agreement.
(o) “Material Event” has the meaning assigned thereto in Section 3(a)(iii).
(p) “Majority Holders” shall mean, on any date, holders of the majority of
the Shares constituting Registrable Securities; for the purposes of this
definition, Holders of Notes
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constituting Registrable Securities shall be deemed to be the Holders of the
number of Shares into which such Notes are or would be convertible as of such
date.
(q) “NASD” shall mean the National Association of Securities Dealers, Inc.
(r) “NASD Rules” shall mean the Conduct Rules and the By-Laws of the NASD.
(s) “Notes” mean the 1.50% Senior Exchangeable Notes due 2026 of SESI,
issued on the date hereof under the Indenture and sold by SESI to the Initial
Purchasers.
(t) “Notice and Questionnaire” means a written notice delivered to the
Issuers containing substantially the information called for by the Form of
Selling Securityholder Notice and Questionnaire attached as Annex A to the
Offering Memorandum.
(u) “Notice Holder” means, on any date, any Holder that has delivered a
Notice and Questionnaire to the Issuers on or prior to such date.
(v) “Offering Memorandum” means the Offering Memorandum dated December 7,
2006 relating to the offer and sale of the Notes.
(w) “Person” means a corporation, association, partnership, organization,
business, individual, government or political subdivision thereof or governmental
agency.
(x) “Prospectus” means the prospectus included in any Shelf Registration
Statement, as amended or supplemented by any amendment or prospectus supplement,
including post-effective amendments, and all materials incorporated by reference
or explicitly deemed to be incorporated by reference in such Prospectus.
(y) “Purchase Agreement” has the meaning specified in the first paragraph of
this Agreement.
(z) “Registrable Securities” means:
(i) the Notes, until the earliest of (i) with respect to any specific Note,
their resale in accordance with the Shelf Registration Statement, (ii) the
expiration of the holding period applicable to
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such Notes under Rule 144(k) or any successor provision or similar
provisions then in effect, (iii) the date on which all such Notes are freely
transferable by persons who are not affiliates of the Issuers without
registration under the Securities Act, or (iv) the date on which all such notes
have been converted or otherwise cease to be outstanding; and
(ii) the Shares, if any, issuable upon conversion of the Notes, until the
earliest of (i) with respect to any specific Share, their resale in accordance
with the Shelf Registration Statement, (ii) the expiration of the holding period
applicable to such Shares under Rule 144(k) or any successor provision or similar
provisions then in effect, (iii) the date on which all such Shares are freely
transferable by persons who are not affiliates of the Issuers without
registration under the Securities Act, or (iv) the date on which all such shares
of common stock cease to be outstanding.
(aa) “Registration Default” has the meaning assigned thereto in Section
2(d).
(bb) “Registration Expenses” has the meaning assigned thereto in Section 5.
(cc) “Rule 144,” “Rule 405” and “Rule 415” mean, in each case, such rule as
promulgated under the Securities Act.
(dd) “Securities” means, collectively, the Notes and the Shares.
(ee) “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder.
(ff) “Shares” means the shares of common stock of Superior Energy, par value
$0.001 per share, into which the Notes are exchangeable or that have been issued
upon any exchange of the Notes for common stock of Superior Energy.
(gg) “Shelf Registration Statement” means the shelf registration statement
referred to in Section 2(a), as amended or supplemented by any amendment or
supplement, including post-effective amendments, and all materials incorporated
by reference or explicitly deemed to be incorporated by reference in such Shelf
Registration Statement.
(hh) “Special Counsel” shall have the meaning assigned thereto in Section 5.
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(ii) “Trust Indenture Act” means the Trust Indenture Act of 1939, as
amended, or any successor thereto, and the rules, regulations and forms
promulgated thereunder, all as the same shall be amended from time to time.
(jj) “Trustee” shall have the meaning assigned such term in the Indenture.
Unless the context otherwise requires, any reference herein to a “Section” or
“clause” refers to a Section or clause, as the case may be, of this Agreement, and the
words “herein,” “hereof” and “hereunder” and other words of similar import refer to this
Agreement as a whole and not to any particular Section or other subdivision. Unless the
context otherwise requires, any reference to a statute, rule or regulation refers to the
same (including any successor statute, rule or regulation thereto) as it may be amended
from time to time.
2. Registration Under the Securities Act.
(a) Each Issuer agrees to use reasonable best efforts to cause the Shelf
Registration Statement covering resales of the Registrable Securities pursuant to
Rule 415 or any similar rule that may be adopted by the Commission to become
effective under the Securities Act within 180 days after the Closing Date and to
keep such Shelf Registration Statement continuously effective until each of the
Registrable Securities covered by the Shelf Registration Statement ceases to be a
Registrable Security (the “Effective Period”). Except with respect to certain
registration rights granted to each of Bear, Xxxxxxx International Limited and
Xxxxxx Brothers OTC Derivatives, Inc. (each a “Dealer” and together, the
“Dealers”) under letter agreements dated as of December 7, 2006 between each of
the Dealers and Superior Energy (the “Letter Agreements”), Superior Energy’s
securityholders (other than Holders of Registrable Securities) shall not have the
right to include any of the securities of Superior Energy in the Shelf
Registration Statement.
(b) Each Issuer further agrees that it shall cause the Shelf Registration
Statement and the Prospectus and any amendment or supplement thereto, as of the
effective date of the Shelf Registration Statement or such amendment or
supplement, (i) to comply in all material respects with the applicable
requirements of the Securities Act and (ii) not to contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein
or necessary in order to make the statements therein (in the case of the
Prospectus, in the light of the circumstances under which they were made) not
misleading, and
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the Issuers agree to furnish to the Holders of the Registrable Securities
copies of any supplement or amendment upon the request of any such Holder prior
to its being used or promptly following its filing with the Commission; provided,
however, that the Issuers shall have no obligation to deliver to Holders of
Registrable Securities copies of any amendment consisting exclusively of an
Exchange Act report or other Exchange Act filing otherwise publicly available on
Superior Energy’s website. If the Shelf Registration Statement ceases to be
effective for any reason at any time during the Effective Period (other than
because all Registrable Securities registered thereunder shall have been sold
pursuant thereto or shall have otherwise ceased to be Registrable Securities),
each Issuer shall use reasonable best efforts to obtain the prompt withdrawal of
any order suspending the effectiveness thereof.
(c) Each Holder of Registrable Securities agrees that if such Holder wishes
to sell Registrable Securities pursuant to the Shelf Registration Statement and
related Prospectus, it will do so only in accordance with this Section 2(c) and
Section 3(b). Not less than thirty (30) calendar days prior to the expected
effective time of the Shelf Registration Statement, the Issuers shall give notice
to each of the Holders of its intention to file the Shelf Registration Statement,
together with a Notice and Questionnaire, in the same manner as it would give
notice to the Holders under the Indenture. No Holder shall be entitled to be
named as a selling securityholder in the Shelf Registration Statement as of the
effective time, and no Holder shall be entitled to use the Prospectus for resales
of Registrable Securities at any time, unless such Holder has returned a
completed and signed Notice and Questionnaire to the Issuers by the deadline for
response set forth therein; provided, however, Holders shall have at least 28
calendar days from the date on which the Notice and Questionnaire is first given
to such Holders to return a completed and signed Notice and Questionnaire to the
Issuers. After the effective time, the Issuers shall, upon the request of any
Holder that is not then a Notice Holder, promptly send a Notice and Questionnaire
to such Holder. The Issuers shall not be required to take any action to name
such Holder as a selling securityholder in the Shelf Registration Statement or to
enable such Holder to use the Prospectus for resales of Registrable Securities
(i) until such Holder has returned a completed and signed Notice and
Questionnaire to the Issuers by the deadline for response set in compliance with
this Section 2(c) or (ii) the use of the Prospectus has been suspended pursuant
to Section 3(b). From and after the date the Shelf Registration Statement
becomes effective, the Issuers shall, as promptly as is
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practicable after the date a Notice and Questionnaire is delivered, and in
any event within thirty (30) days after the date of receipt of such Notice and
Questionnaire, or if the use of the Prospectus has been suspended by the Issuers
under Section 3(b) hereof at the time of receipt of the Notice and Questionnaire,
within thirty (30) days after the expiration of the period during which the use
of the Prospectus is suspended:
(i) if required by applicable law, file with the Commission a post-effective
amendment to the Shelf Registration Statement or prepare and, if required by
applicable law, file a supplement to the related Prospectus or file any other
required document so that the Holder delivering such Notice and Questionnaire is
named as a selling securityholder in the Shelf Registration Statement and the
related Prospectus in such a manner as to permit such Holder to deliver such
Prospectus to purchasers of the Registrable Securities in accordance with
applicable law and, if the Issuers shall file a post-effective amendment to the
Shelf Registration Statement, use reasonable best efforts to cause such
post-effective amendment to become effective under the Securities Act as promptly
as is practicable. Notwithstanding the foregoing, the Issuers shall not be
required to file more than one post-effective amendment to the Shelf Registration
Statement or supplement to the related Prospectus during any calendar quarter;
(ii) unless such copy is available on the Electronic Data Gathering Analysis
and Retrieval System (“XXXXX”), upon request provide such Holder copies of any
documents filed pursuant to Section 2(c)(i); and
(iii) notify such Holder as promptly as practicable after the effectiveness
under the Securities Act of any post-effective amendment filed pursuant to
Section 2(c)(i).
(d) If any of the following events (any such event a “Registration Default”)
shall occur, then additional interest (the “Additional Interest”) shall become
payable by the Issuers and the Guarantors, jointly and severally, to Holders in
respect of the Notes as follows:
(i) if the Shelf Registration Statement does not become effective with the
Commission within 180 days following the Closing Date, then commencing on the
181st day after the Closing Date, Additional Interest shall accrue on the
principal amount of the outstanding Notes at a rate of 0.25% per annum for the
first 90 days following such 181st day and at a rate of 0.50% per annum
thereafter; or
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(ii) if the Shelf Registration Statement becomes effective but such Shelf
Registration Statement ceases to be effective at any time during the Effective
Period (other than pursuant to Section 3(b) hereof), then commencing on the day
such Shelf Registration Statement ceases to be effective, Additional Interest
shall accrue on the principal amount of the outstanding Notes that are
Registrable Securities at a rate of 0.25% per annum for the first 90 days
following such date on which the Shelf Registration Statement ceases to be
effective and at a rate of 0.50% per annum thereafter; or
(iii) if the aggregate duration of Deferral Periods in any period exceeds
the number of days permitted in respect of such period pursuant to Section 3(b)
hereof, then commencing on the day the aggregate duration of Deferral Periods in
any period exceeds the number of days permitted in respect of such period (and
again on the first day of any subsequent Deferral Period during such period),
Additional Interest shall accrue on the principal amount of the outstanding Notes
that are Registrable Securities at a rate of 0.25% per annum for the first 90
days and at a rate of 0.50% per annum thereafter;
provided, however, that the Additional Interest rate on the Notes shall not exceed in the
aggregate 0.50% per annum and shall not be payable under more than one clause above for
any given period of time, except that if Additional Interest would be payable under more
than one clause above, but at a rate of 0.25% per annum under one clause and at a rate of
0.50% per annum under the other, then the Additional Interest rate shall be the higher
rate of 0.50% per annum; provided further, however, that (1) upon the effectiveness of the
Shelf Registration Statement (in the case of clause (i) above), (2) upon the effectiveness
of the Shelf Registration Statement which had ceased to remain effective (in the case of
clause (ii) above), (3) upon the termination of the Deferral Period that caused the limit
on the aggregate duration of Deferral Periods in a period set forth in Section 3(b) to be
exceeded (in the case of clause (iii) above), (4) upon the termination of certain transfer
restrictions on the Securities as a result of the application of Rule 144(k) or any
successor provision or (5) for any period after the second anniversary from the Closing
Date, Additional Interest on the Notes as a result of such clause, as the case may be,
shall cease to accrue.
Additional Interest on the Notes, if any, will be payable in cash on December 15 and
June 15 of each year (an “Additional Interest Payment Date”) to holders of record of
outstanding Notes at the close of business on December 1 or June 1, as the case may be,
immediately preceding the relevant Additional Interest Payment Date, in the same manner
and subject
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to the same terms as other interest is payable on the Notes pursuant to the
Indenture. Following the cure of all Registration Defaults requiring the payment of
Additional Interest to the Holders of Securities pursuant to this Section, the accrual of
such Additional Interest will cease (without in any way limiting the effect of any
subsequent Registration Default requiring the payment of Additional Interest).
The Issuers shall notify the Trustee immediately upon the happening of each and every
Registration Default. The Trustee shall be entitled, on behalf of Holders of Securities,
to seek any available remedy for the enforcement of this Agreement, including for the
payment of any Additional Interest. Notwithstanding the foregoing, the parties agree that
no Additional Interest or other additional amounts shall be payable in respect of any
Shares that are Registrable Securities that bear the legend set forth in the section
entitled “Transfer Restrictions” in the Offering Memorandum and, except as set forth in
the following sentence, the sole remedy for a violation of the terms of this Agreement
with respect to which additional monetary amounts are expressly provided shall be as set
forth in this Section 2(d). Nothing shall preclude a Notice Holder or Holder of
Registrable Securities from pursuing or obtaining specific performance or other equitable
relief with respect to this Agreement.
3. Registration Procedures.
The following provisions shall apply to the Shelf Registration Statement to be made
effective pursuant to Section 2:
(a) The Issuers shall:
(i) use reasonable best efforts to cause a registration statement with
respect to the shelf registration on Form S-3 to become effective in accordance
with Section 2(a) above;
(ii) use reasonable best efforts to prepare and file with the Commission
such amendments and post-effective amendments to the Shelf Registration Statement
and file with the Commission any other required document as may be necessary to
keep such Shelf Registration Statement continuously effective until the
expiration of the Effective Period; use reasonable best efforts to cause the
related Prospectus to be supplemented by any required prospectus supplement, and
as so supplemented to be filed pursuant to Rule 424 (or any similar provisions
then in force) under the Securities Act; and use reasonable best efforts to
comply with the provisions of the Securities Act applicable to it with respect to
the disposition of all Securities covered by such Shelf Registration Statement
during the Effective Period in accordance with the intended methods of
disposition by the sellers thereof set
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forth in such Shelf Registration Statement as so amended or such Prospectus
as so supplemented;
(iii) promptly notify the Notice Holders of Registrable Securities that have
requested or received copies of the Prospectus included in the Shelf Registration
Statement (A) when such Shelf Registration Statement has become effective, (B) of
any request, following the effectiveness of the Shelf Registration Statement, by
the Commission or any other Federal or state governmental authority for
amendments or supplements to the Shelf Registration Statement or related
Prospectus, (C) of the issuance by the Commission of any stop order suspending
the effectiveness of such Shelf Registration Statement or the initiation or
written threat of any proceedings for that purpose, (D) of the receipt by the
Issuers of any notification with respect to the suspension of the qualification
of the Registrable Securities for sale in any jurisdiction or the initiation or
written threat of any proceeding for such purpose, (E) of the occurrence of (but
not the nature of or details concerning) any event or the existence of any fact
(a “Material Event”) as a result of which the Shelf Registration Statement shall
contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein
not misleading, or any Prospectus shall contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading (provided, however, that no notice by the
Issuers shall be required pursuant to this clause (E) in the event that the
Issuers either promptly file a prospectus supplement to update the Prospectus or
timely filed a Form 8-K or other appropriate Exchange Act report that is
incorporated by reference into the Shelf Registration Statement, which, in either
case, contains the requisite information with respect to such Material Event that
results in such Shelf Registration Statement no longer containing any untrue
statement of material fact or omitting to state a material fact necessary to make
the statements contained therein not misleading), (F) of the determination by the
Issuers that a post-effective amendment to the Shelf Registration Statement
(other than for the purpose of naming a Notice Holder as a selling securityholder
therein) will be filed with the Commission, which notice may, at the discretion
of the Issuers (or as required pursuant to Section 3(b)), state that it
constitutes a Deferral Notice, in which event the provisions of Section 3(b)
shall apply or (G) at any time when a Prospectus is required to be delivered
under the Securities Act, that the Shelf Registration Statement or Prospectus
does not conform in all
10
material respects to the applicable requirements of the Securities Act and
the Trust Indenture Act and the rules and regulations of the Commission
thereunder;
(iv) prior to any public offering of the Registrable Securities pursuant to
the Shelf Registration Statement, use reasonable best efforts to register or
qualify, or cooperate with the Notice Holders of Securities included therein and
their respective counsel in connection with the registration or qualification of,
such Securities for offer and sale under the securities or blue sky laws of such
jurisdictions as any such Notice Holders reasonably requests in writing and do
any and all other acts or things reasonably necessary or advisable to enable the
offer and sale in such jurisdictions of the Securities covered by the Shelf
Registration Statement; prior to any public offering of the Registrable
Securities pursuant to the Shelf Registration Statement, use reasonable best
efforts to keep each such registration or qualification (or exemption therefrom)
effective during the Effective Period in connection with such Notice Holder’s
offer and sale of Registrable Securities pursuant to such registration or
qualification (or exemption therefrom) and do any and all other acts or things
reasonably necessary or advisable to enable the disposition in such jurisdictions
of such Registrable Securities in the manner set forth in the Shelf Registration
Statement and the related Prospectus; provided that the Issuers will not be
required to qualify generally to do business in any jurisdiction where it is not
then so qualified or to take any action which would subject it to general service
of process or to taxation in any such jurisdiction where it is not then so
subject;
(v) use reasonable best efforts to prevent the issuance of, and if issued,
to obtain the withdrawal of any order suspending the effectiveness of the Shelf
Registration Statement or any post-effective amendment thereto, and to lift any
suspension of the qualification of any of the Registrable Securities for sale in
any jurisdiction in which they have been qualified for sale, in each case at the
earliest practicable date;
(vi) upon reasonable notice, throughout the Effective Period, (i) during
normal business hours, make reasonably available upon appropriate agreement by
such parties to maintain confidentiality and appropriately use such information,
for inspection by a representative of, and Special Counsel acting for, Majority
Holders of the Securities being sold and any underwriter (and its counsel)
participating in any disposition of Securities pursuant to such Shelf
Registration Statement, all relevant
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financial and other records, pertinent corporate documents and properties of
the Issuers and their subsidiaries and (ii) use reasonable best efforts to have
the officers, directors, employees, accountants and counsel of the Issuers supply
all relevant information reasonably requested by such representative, Special
Counsel or any such underwriter in connection with such Shelf Registration
Statement;
(vii) if requested by Majority Holders of the Securities being sold in an
underwriting, its Special Counsel or the managing underwriters (if any) in
connection with such Shelf Registration Statement, use reasonable best efforts to
cause (a) its counsel to deliver an opinion relating to the Shelf Registration
Statement and the Securities in customary form, (b) the officers of each Issuer
to execute and deliver all customary documents and certificates requested by the
Majority Holders of the Securities being sold, their Special Counsel or the
managing underwriters (if any) and (c) the independent public accountants of the
Issuers to provide a comfort letter or letters in customary form, subject to
receipt of appropriate documentation as contemplated and only if permitted by
Statement of Auditing Standards No. 72, provided that the Registrable Securities
shall not be sold in any underwritten offering without the prior written consent
of the Issuers;
(viii) if reasonably requested by the Initial Purchasers or any Notice
Holder, promptly incorporate in a prospectus supplement or post-effective
amendment to the Shelf Registration Statement such information as the Initial
Purchasers or such Notice Holder shall, on the basis of a written opinion of
nationally-recognized counsel experienced in such matters, determine to be
required to be included therein by applicable law and make any required filings
of such prospectus supplement or such post-effective amendment; provided, that
the Issuers shall not be required to take any actions under this Section
3(a)(viii) that are not, in the reasonable opinion of counsel for the Issuers, in
compliance with applicable law;
(ix) promptly furnish to each Notice Holder and the Initial Purchasers, upon
their request and without charge, at least one (1) conformed copy of the Shelf
Registration Statement and any amendments thereto, including financial statements
but excluding schedules, all documents incorporated or deemed to be incorporated
therein by reference and all exhibits; provided, however, that the Issuers shall
have no obligation to deliver to Notice Holders or the Initial Purchasers a copy
of any amendment
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consisting exclusively of an Exchange Act report or other Exchange Act
filing otherwise publicly available on XXXXX;
(x) during the Effective Period, deliver to each Notice Holder in connection
with any sale of Registrable Securities pursuant to the Shelf Registration
Statement, upon its request and without charge, as many copies of the Prospectus
relating to such Registrable Securities (including each preliminary prospectus)
and any amendment or supplement thereto as such Notice Holder may reasonably
request; and the Issuers hereby consent (except during such periods that a
Deferral Notice is outstanding and has not been revoked) to the use of such
Prospectus or each amendment or supplement thereto by each Notice Holder in
connection with any offering and sale of the Registrable Securities covered by
such Prospectus or any amendment or supplement thereto in the manner set forth
therein; and
(xi) cooperate with the Notice Holders of Securities to facilitate the
timely preparation and delivery of global or definitive certificates representing
Securities to be sold pursuant to the Shelf Registration Statement free of any
restrictive legends and, in the case of definitive certificates, in such
denominations and registered in such names as the Holders thereof may request in
writing at least two business days prior to sales of Securities pursuant to such
Shelf Registration Statement.
(b) Upon (A) the issuance by the Commission of a stop order suspending the
effectiveness of the Shelf Registration Statement or the initiation of
proceedings with respect to the Shelf Registration Statement under Section 8(d)
or 8(e) of the Securities Act, (B) the occurrence of any event or the existence
of any Material Event as a result of which the Shelf Registration Statement shall
contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein
not misleading, or any Prospectus shall contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading, or (C) the occurrence or existence of any
corporate development that, in the discretion of the Issuers, makes it
appropriate to suspend the availability of the Shelf Registration Statement and
the related Prospectus, the Issuers will (i) in the case of clause (B) above,
subject to the third sentence of this provision, as promptly as practicable
prepare and file a post-effective amendment to the Shelf Registration Statement
or a supplement to the related
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Prospectus or any document incorporated therein by reference or file any
other required document that would be incorporated by reference into such Shelf
Registration Statement and Prospectus so that such Shelf Registration Statement
does not contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein not misleading, and such Prospectus does not contain any untrue statement
of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, as thereafter delivered
to the purchasers of the Registrable Securities being sold thereunder, and, in
the case of a post-effective amendment to the Shelf Registration Statement,
subject to the third sentence of this provision, use reasonable best efforts to
cause it to become effective as promptly as is practicable, and (ii) give notice
to the Notice Holders that the availability of the Shelf Registration Statement
is suspended (a “Deferral Notice”). Upon receipt of any Deferral Notice, each
Notice Holder agrees not to sell any Registrable Securities pursuant to the Shelf
Registration Statement until such Notice Holder’s receipt of copies of the
supplemented or amended Prospectus provided for in clause (i) above, or until it
is advised in writing by the Issuers that the Prospectus may be used, and has
received copies of any additional or supplemental filings that are incorporated
or deemed incorporated by reference in such Prospectus. Each Issuer will use
reasonable best efforts to ensure that the use of the Prospectus may be resumed
(x) in the case of clause (A) above, as promptly as practicable, (y) in the case
of clause (B) above, as soon as, in the sole judgment of the Issuers, public
disclosure of such Material Event would not be prejudicial to or contrary to the
interests of the Issuers or, if necessary to avoid unreasonable burden or
expense, as soon as practicable thereafter and (z) in the case of clause (C)
above, as soon as, in the discretion of the Issuers, such suspension is no longer
appropriate; provided that the period during which the availability of the Shelf
Registration Statement and any Prospectus is suspended (the “Deferral Period”),
without the Issuers incurring any obligation to pay Additional Interest pursuant
to Section 2(d), shall not exceed one hundred and twenty (120) days in the
aggregate in any twelve (12) month period.
(c) Each Holder of Registrable Securities agrees that upon receipt of any
Deferral Notice from the Issuers, such Holder shall forthwith discontinue (and
cause any placement or sales agent or underwriters acting on its behalf to
discontinue) the disposition of Registrable Securities pursuant to the Shelf
Registration Statement until such Holder (i) shall have received copies of such
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amended or supplemented Prospectus or (ii) shall have received notice from
the Issuers that the disposition of Registrable Securities pursuant to the Shelf
Registration may continue.
(d) The Issuers may require each Holder of Registrable Securities as to
which any registration pursuant to Section 2(a) is being effected to furnish to
the Issuers such information, in addition to that elicited by the Notice and
Questionnaire, regarding such Holder and such Holder’s intended method of
distribution of such Registrable Securities as the Issuers may from time to time
reasonably request in writing, but only to the extent that such information is
required in order to comply with the Securities Act or other applicable law.
Each such Holder agrees to notify the Issuers as promptly as practicable of any
inaccuracy or change in information previously furnished by such Holder to the
Issuers or of the occurrence of any event in either case as a result of which any
Prospectus relating to such registration contains or would contain an untrue
statement of a material fact regarding such Holder or such Holder’s intended
method of disposition of such Registrable Securities or omits to state any
material fact regarding such Holder or such Holder’s intended method of
disposition of such Registrable Securities required to be stated therein or
necessary to make the statements therein not misleading, and promptly to furnish
to the Issuers any additional information required to correct and update any
previously furnished information or required so that such Prospectus shall not
contain, with respect to such Holder or the disposition of such Registrable
Securities, an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein
not misleading.
(e) Superior Energy shall comply with all applicable rules and regulations
of the Commission and make generally available to its securityholders earning
statements (which need not be audited) satisfying the provisions of Section 11(a)
of the Securities Act and Rule 158 thereunder (or any similar rule promulgated
under the Securities Act) no later than (i) 40 days after the end of any 12-month
period (or 60 days after the end of any 12-month period if such period is a
fiscal year) if Superior Energy is at such time an “accelerated filer” and (ii)
45 days after the end of any 12-month period (or 90 days after the end of any
12-month period if such period is a fiscal year) if Superior Energy is not an
“accelerated filer” commencing on the first day of the first fiscal quarter of
such Issuer commencing after the effective date of the Shelf Registration
Statement, which statements shall cover said 12-month periods.
15
(f) The Issuers shall provide a CUSIP number for all Registrable Securities
covered by the Shelf Registration Statement not later than the effective date of
such Shelf Registration Statement and provide the Trustee and the transfer agent
for the Shares with one or more certificates for the Registrable Securities that
are in a form eligible for deposit with The Depository Trust Company.
(g) Until the expiration of the Effective Period, the Issuers will not, and
will not permit any of its “affiliates” (as defined in Rule 144) to, resell any
of the Securities that have been reacquired by any of them except pursuant to an
effective registration statement under the Securities Act.
(h) The Issuers shall cause the Indenture to be qualified under the Trust
Indenture Act in a timely manner.
(i) The Issuers shall enter into such customary agreements and take all such
other necessary and lawful actions in connection therewith (including those
requested by the Majority Holders of the Registrable Securities being sold) in
order to expedite or facilitate disposition of such Registrable Securities.
4. Holder’s Obligations.
Each Holder agrees, by acquisition of the Registrable Securities, that no Holder of
Registrable Securities shall be entitled to sell any of such Registrable Securities
pursuant to the Shelf Registration Statement or to receive a Prospectus relating thereto,
unless such Holder has furnished the Issuers with a Notice and Questionnaire pursuant to
Section 2(c) hereof (including the information required to be included in such Notice and
Questionnaire) and the additional information set forth in the next sentence. Each Notice
Holder agrees promptly to furnish to the Issuers all information required to be disclosed
in order to make the information previously furnished to the Issuers by such Notice Holder
not misleading and any other information regarding such Notice Holder and the distribution
of such Registrable Securities as may be required to be disclosed in the Shelf
Registration Statement under applicable law or pursuant to Commission comments. Each
Holder further agrees not to sell any Registrable Securities pursuant to the Shelf
Registration Statement without delivering, or causing to be delivered, a Prospectus to the
purchaser thereof and, following termination of the Effective Period, to notify the
Issuers, within 10 Business Days of a request by the Issuers, of the amount of Registrable
Securities sold pursuant to the Shelf Registration Statement and, in the absence of a
response, the Issuers may assume that all of the Holder’s Registrable Securities were so
sold.
16
5. Registration Expenses.
The Issuers and the Guarantors, jointly and severally, agree to bear and to pay or
cause to be paid promptly upon request being made therefor all expenses incident to the
Issuers’ performance of or compliance with this Agreement, including, but not limited to,
(a) all Commission and any NASD registration and filing fees and expenses, (b) all fees
and expenses in connection with the qualification of the Registrable Securities for
offering and sale under the state securities and Blue Sky laws referred to in Section
3(a)(iv) hereof, including reasonable fees and disbursements of one counsel for the
placement agent or underwriters, if any, in connection with such qualifications, (c) all
expenses relating to the preparation, printing, distribution and reproduction of the Shelf
Registration Statement, the related Prospectus, each amendment or supplement to each of
the foregoing, the certificates representing the Securities and all other documents
relating hereto, (d) fees and expenses of the Trustee and of the registrar and transfer
agent for the Shares, (e) fees, disbursements and expenses of counsel and independent
certified public accountants of the Issuers (including the expenses of any reports
required by the Securities Act or the rules and regulations thereunder to be included or
incorporated by reference in the Shelf Registration Statement or “cold comfort” letters
required by or incident to such performance and compliance) and (f) reasonable fees,
disbursements and expenses of one counsel for the Holders of Registrable Securities
retained in connection with the Shelf Registration Statement, as selected by the Issuers
(unless reasonably objected to by the Majority Holders of the Registrable Securities being
registered, in which case the Majority Holders shall select such counsel for the Holders)
(“Special Counsel”), and fees, expenses and disbursements of any other Persons, including
special experts, retained by the Issuers in connection with such registration
(collectively, the “Registration Expenses”). To the extent that any Registration Expenses
are incurred, assumed or paid by any Holder of Registrable Securities or any underwriter
or placement agent therefor, the Issuers shall reimburse such Person for the full amount
of the Registration Expenses so incurred, assumed or paid promptly after receipt of a
documented request therefor. Notwithstanding the foregoing, the Holders of the
Registrable Securities being registered shall pay all underwriting discounts and
commissions and placement agent fees and commissions attributable to the sale of such
Registrable Securities and the fees and disbursements of any counsel or other advisors or
experts retained by such Holders (severally or jointly), other than the counsel and
experts specifically referred to above.
6. Indemnification.
(a) The Issuers and the Guarantors, jointly and severally, agree to
indemnify and hold harmless each Holder
17
(including, without limitation, the Initial Purchasers), each of the
directors, officers, employees and affiliates of such Holder and each person who
controls such Holder within the meaning of either the Securities Act or the
Exchange Act against any and all losses, claims, damages or liabilities, joint or
several, to which they or any of them may become subject under the Securities
Act, the Exchange Act or other federal or state statutory law or regulation, at
common law or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in the Shelf
Registration Statement or the Prospectus, or arise out of or are based upon the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, and agrees to reimburse
each such indemnified party, as incurred, for any legal or other expenses
reasonably incurred by it in connection with investigating or defending any such
loss, claim, damage, liability or action; provided, however, that the Issuers
will not be liable in any such case to the extent that any such loss, claim,
damage or liability arises out of or is based upon any such untrue statement or
alleged untrue statement or omission or alleged omission from any such document,
in reliance upon and in conformity with written information provided by a Holder.
This indemnity agreement will be in addition to any liability that the Issuers
may otherwise have.
(b) Each Holder agrees to indemnify and hold harmless the Issuers, each of
its directors, each of its officers, and each person, if any, who controls the
Issuers within the meaning of either the Securities Act or the Exchange Act,
against any and all losses, claims, damages or liabilities, joint or several, to
which the Issuers may become subject under the Securities Act, the Exchange Act
or other federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon any untrue statement or alleged
untrue statement of a material fact contained in any such Shelf Registration
Statement or the Prospectus, or arise out of or are based upon the omission or
alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, but in each case only to the extent
that the untrue statement or alleged untrue statement or omission or alleged
omission was made in reliance upon and in conformity with any information
furnished to the Issuers by such Holder, in its most
18
recent Notice and Questionnaire or such other written instrument, and agrees
to reimburse the Issuers, as incurred, for any legal or other expenses reasonably
incurred by it in connection with investigating or defending any such loss,
claim, damage, liability or action; provided, however, that no such Holder shall
be liable for any indemnity claims hereunder in excess of the amount of net
proceeds received by such Holder from the sale of Registrable Securities pursuant
to such Shelf Registration Statement. This indemnity agreement will be in
addition to any liability which any such Holder may otherwise have.
(c) Promptly after receipt by an indemnified party under this Section 6 of
notice of the commencement of any action, such indemnified party will, if a claim
in respect thereof is to be made against the indemnifying party under this
Section 6, notify the indemnifying party in writing of the commencement thereof;
but the failure so to notify the indemnifying party (i) will not relieve it from
liability under paragraph (a) or (b) above unless and to the extent it has been
materially prejudiced through the forfeiture by the indemnifying party of
substantial rights and defenses and (ii) will not, in any event, relieve the
indemnifying party from any obligations to any indemnified party other than the
indemnification obligation provided in paragraph (a) or (b). If any action shall
be brought against an indemnified party and it shall have notified the
indemnifying party thereof, the indemnifying party shall be entitled to appoint
counsel (including local counsel) of the indemnifying party’s choice at the
indemnifying party’s expense to represent the indemnified party in any action for
which indemnification is sought (in which case the indemnifying party shall not
thereafter be responsible for the fees and expenses of any separate counsel,
other than local counsel if not appointed by the indemnifying party, retained by
the indemnified party or parties except as set forth below); provided, however,
that such counsel shall be reasonably satisfactory to the indemnified party.
Notwithstanding the indemnifying party’s election to appoint counsel (including
local counsel) to represent the indemnified party in an action, the indemnified
party shall have the right to employ separate counsel (including local counsel),
and the indemnifying party shall bear the reasonable fees, costs and expenses of
such separate counsel if: (i) the use of counsel chosen by the indemnifying
party to represent the indemnified party would present such counsel with a
conflict of interest; (ii) the actual or potential defendants in, or targets of,
any such action include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there may be legal
defenses available to it and/or other indemnified parties
19
that are different from or additional to those available to the indemnifying
party; (iii) the indemnifying party shall not have employed counsel reasonably
satisfactory to the indemnified party to represent the indemnified party within a
reasonable time after notice of the institution of such action; or (iv) the
indemnifying party shall authorize the indemnified party to employ separate
counsel at the expense of the indemnifying party. An indemnifying party will
not, without the prior written consent of the indemnified parties, settle or
compromise or consent to the entry of any judgment with respect to any pending or
threatened claim, action, suit or proceeding in respect of which indemnification
or contribution may be sought hereunder (whether or not the indemnified parties
are actual or potential parties to such claim or action) unless such settlement,
compromise or consent includes an unconditional release of each indemnified party
from all liability arising out of such claim, action, suit or proceeding and does
not include an admission of fault, culpability or a failure to act, by or on
behalf of such indemnified party.
(d) The provisions of this Section 6 and Section 7 shall remain in full
force and effect, regardless of any investigation made by or on behalf of any
Holder, the Issuers, or any of the indemnified Persons referred to in this
Section 6 and Section 7, and shall survive the sale by a Holder of Securities
covered by the Shelf Registration Statement.
7. Contribution.
If the indemnification provided for in Section 6 is unavailable or insufficient to
hold harmless an indemnified party under Section 6(a) or 6(b), then each indemnifying
party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid
or payable by such indemnified party as a result of such loss, claim, damage or liability,
or action in respect thereof, (i) in such proportion as shall be appropriate to reflect
the relative benefits received by the Issuers and the Guarantors from the offering and
sale of the Notes, on the one hand, and a Holder with respect to the sale by such Holder
of Securities, on the other, or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) above but also the relative fault of the
Issuers and the Guarantors and such Holder on the other with respect to the statements or
omissions that resulted in such loss, claim, damage or liability, or action in respect
thereof, as well as any other relevant equitable considerations. The relative benefits
received by the Issuers and the Guarantors on the one hand and a Holder on the other with
respect to such offering and such sale shall be deemed to be in the same proportion
20
as the total net proceeds from the offering of the Notes (excluding discounts and
commissions, but before deducting expenses) received by or on behalf of the Issuers and
the Guarantors, on the one hand, and the total net proceeds (excluding discounts and
commissions, but before deducting expenses) received by such Holder upon a resale of the
Securities, on the other, bear to the total gross proceeds from the sale all Securities
pursuant to the Shelf Registration Statement in the offering of the Securities from which
the contribution claim arises. The relative fault shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or
the omission or alleged omission to state a material fact relates to the Issuers or the
Guarantors or information supplied by the Issuers or the Guarantors on the one hand or to
any information contained in the relevant Notice and Questionnaire or such other written
instrument supplied by such Holder on the other, the intent of the parties and their
relative knowledge, access to information and opportunity to correct or prevent such
untrue statement or omission. The parties hereto agree that it would not be just and
equitable if contributions pursuant to this Section 7 were to be determined by pro rata
allocation or by any other method of allocation that does not take into account the
equitable considerations referred to herein. The amount paid or payable by an indemnified
party as a result of the loss, claim, damage or liability, or action in respect thereof,
referred to above in this Section 7 shall be deemed to include, for purposes of this
Section 7, any legal or other expenses reasonably incurred by such indemnified party in
connection with investigating or defending or preparing to defend any such action or
claim. Notwithstanding the provisions of this Section 7, an indemnifying party that is a
Holder of Securities shall not be required to contribute any amount in excess of the
amount by which the total price at which the Securities sold by such indemnifying party to
any purchaser exceeds the amount of any damages which such indemnifying party has
otherwise paid or become liable to pay by reason of any untrue or alleged untrue statement
or omission or alleged omission. No person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation.
8. Rule 144A and Rule 144.
So long as any Registrable Securities remain outstanding, each Issuer shall use
reasonable best efforts to file the reports required to be filed by it under Rule
144A(d)(4) under the Securities Act and the Exchange Act in a timely manner and, if at any
time such Issuer is not required to file such reports, it will, upon the written request
of any Holder of Restricted Securities, make publicly available other information so long
as necessary to permit sales of such Holder’s securities pursuant to Rules 144 and 144A.
Each Issuer covenants that it will take such further action
21
as any Holder of Restricted Securities may reasonably request, all to the extent
required from time to time to enable such Holder to sell Registrable Securities without
registration under the Securities Act within the limitation of the exemptions provided by
Rules 144 and 144A (including, without limitation, the requirements of Rule 144A(d)(4)).
Upon the written request of any Holder of Registrable Securities, each Issuer shall
promptly deliver to such Holder a written statement as to whether it has complied with
such requirements. Notwithstanding the foregoing, nothing in this Section 8 shall be
deemed to require the Issuers to register any of its securities pursuant to the Exchange
Act.
9. Miscellaneous.
(a) Amendments and Waivers. The provisions of this Agreement may
not be amended, modified or supplemented, and waivers or consents to departures
from the provisions hereof may not be given, unless the Issuers have obtained the
written consent of the Majority Holders. Notwithstanding the foregoing, a waiver
or consent to depart from the provisions hereof with respect to a matter that
relates exclusively to the rights of Holders whose Securities are being sold
pursuant to the Shelf Registration Statement and that does not directly or
indirectly affect the rights of other Holders may be given by Holders of a
majority in aggregate amount of the Securities being sold by such Holders
pursuant to the Shelf Registration Statement.
(b) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, first class mail,
telecopier or air courier guaranteeing next-day delivery:
(i) If to the Issuers or the Guarantors, initially at the address set forth
in the Purchase Agreement;
(ii) If to the Initial Purchasers, initially at the address of the
representative set forth in the Purchase Agreement; and
(iii) If to a Holder, to the address of such Holder set forth in the
security register, the Notice and Questionnaire or other records of the Issuers;
provided, however, that so long as the Securities will be in global form, all
notices hereunder may be delivered through The Depository Trust Company, its
nominees and their respective successors and assigns, or such other depository
institution.
All such notices and communications shall be deemed to have been duly given: when
delivered by hand, if personally delivered; one business
22
day after being delivered to a next day air courier; five business days after being
deposited in the mail; and when receipt is acknowledged by the recipient’s telecopier
machine, if sent by telecopier.
(c) Successors and Assigns. This Agreement shall be binding upon
the Issuers, the Guarantors, and each of their successors and assigns.
(d) Counterparts. This Agreement may be executed in any number of
counterparts (which may be delivered in original form or by telecopier) and by
the parties hereto in separate counterparts, each of which when so executed shall
be deemed to be an original and all of which taken together shall constitute one
and the same agreement.
(e) Definition of Terms. For purposes of this Agreement, (a) the
term “business day” means any day on which the New York Stock Exchange, Inc. is
open for trading and (b) except where otherwise expressly provided, the term
“affiliate” has the meaning set forth in Rule 405 under the Securities Act.
(f) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.
(g) Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York.
(h) Remedies. In the event of a breach by the Issuers, the
Guarantors or by any Holder of any of their respective obligations under this
Agreement, each Holder or the Issuers, as the case may be, in addition to being
entitled to exercise all rights granted by law, including recovery of damages
(other than the recovery of damages for a breach by the Issuers and the
Guarantors of its obligations for which Additional Interest have been paid
pursuant to Section 2 hereof), will be entitled to specific performance of its
rights under this Agreement. The Issuers and each Holder agree that monetary
damages would not be adequate compensation for any loss incurred by reason of a
breach by it of any of the provisions of this Agreement and hereby further agree
that, in the event of any action for specific performance in respect of such
breach, it shall waive the defense that a remedy at law would be adequate.
(i) No Inconsistent Agreements. Each Issuer represents, warrants
and agrees that (i) it has not entered into, shall
23
not, on or after the date of this Agreement, enter into any agreement that
is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof, (ii) except with respect to
certain registration rights granted to each of the Dealers under the Letter
Agreements, there are no contracts, commitments, agreements, arrangements,
understandings or undertakings of any kind to which such Issuer is a party, or by
which it is bound, granting to any person the right to require either such Issuer
to file a registration statement under the Securities Act with respect to any
securities of such Issuer or requiring such Issuer to include such securities
with the Securities registered pursuant to any registration statement and (iii)
without limiting the generality of the foregoing, without the written consent of
the Majority Holders, it shall not grant to any Person the right to request such
Issuer to register any securities of such Issuer under the Securities Act unless
the rights so granted are not in conflict or inconsistent with the provisions of
this Agreement.
(j) No Piggyback on Registrations. Except with respect to certain
registration rights granted to each of the Dealers under the Letter Agreements,
neither the Issuers nor any of their security holders (other than the Holders of
Restricted Securities in such capacity) shall have the right to include any
securities of the Issuers in any Shelf Registration Statement other than
Registrable Securities.
(k) Severability. If any term, provision, covenant or restriction
of this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions, covenants
and restrictions set forth herein shall remain in full force and effect and shall
in no way be affected, impaired or invalidated, and the parties hereto shall use
their reasonable best efforts to find and employ an alternative means to achieve
the same or substantially the same result as that contemplated by such term,
provision, covenant or restriction. It is hereby stipulated and declared to be
the intention of the parties that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.
(l) Survival. The respective indemnities, agreements,
representations, warranties and each other provision set forth in this Agreement
or made pursuant hereto shall remain in full force and effect regardless of any
investigation (or statement as to the results thereof) made by or on behalf of
any Holder of Registrable
24
Securities, any director, officer or affiliate of such Holder, any agent or
underwriter or any director, officer or affiliate thereof, or any controlling
person of any of the foregoing, and shall survive delivery of and payment for the
Registrable Securities pursuant to the Purchase Agreement and the transfer and
registration of Registrable Securities by such Holder.
(m) Securities Held by the Issuers, Etc. Whenever the consent or approval of
Holders of a specified percentage of Securities is required hereunder, Securities held by
the Issuers or their affiliates (other than subsequent Holders of Securities if such
subsequent Holders are deemed to be affiliates solely by reason of their holdings of such
Securities) shall not be counted in determining whether such consent or approval was given
by the Holders of such required percentage.
25
If the foregoing is in accordance with your understanding of our agreement, kindly sign and
return to us a counterpart hereof, whereupon this instrument will become a binding
agreement among the Issuers and the Initial Purchasers in accordance with its terms.
Very truly yours, | ||||||
SESI, L.L.C. | ||||||
By: | SUPERIOR ENERGY SERVICES, INC., | |||||
Its Sole Member | ||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||
Name: Xxxxxx X. Xxxxxx | ||||||
Title: Executive Vice President and | ||||||
Chief Financial Office | ||||||
SUPERIOR ENERGY SERVICES, INC. | ||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||
Name: Xxxxxx X. Xxxxxx | ||||||
Title: Executive Vice President and | ||||||
Chief Financial Office |
26
GUARANTORS:
1105 XXXXXX ROAD, L.L.C.
BLOWOUT TOOLS, INC.
CONCENTRIC PIPE AND TOOL RENTALS, L.L.C.
CONNECTION TECHNOLOGY, L.L.C.
CSI TECHNOLOGIES, LLC
DRILLING LOGISTICS, L.L.C.
F. & F. WIRELINE SERVICE, L.L.C.
FASTORQ, L.L.C.
H.B. RENTALS, L.C.
INTERNATIONAL SNUBBING SERVICES, L.L.C.
J.R.B. CONSULTANTS, INC.
NON-MAGNETIC RENTAL TOOLS, L.L.C.
PROACTIVE COMPLIANCE, L.L.C.
PRODUCTION MANAGEMENT INDUSTRIES, L.L.C.
SEGEN LLC
SELIM LLC
SEMO, L.L.C.
SEMSE, L.L.C.
SPN RESOURCES, LLC
STABIL DRILL SPECIALTIES, L.L.C.
SUB-SURFACE TOOLS, L.L.C.
SUPERIOR CANADA HOLDING, INC.
SUPERIOR ENERGY SERVICES, L.L.C.
SUPERIOR INSPECTION SERVICES, INC.
UNIVERSAL FISHING AND RENTAL TOOLS, INC.
WILD WELL CONTROL, INC.
WORKSTRINGS, L.L.C.
1105 XXXXXX ROAD, L.L.C.
BLOWOUT TOOLS, INC.
CONCENTRIC PIPE AND TOOL RENTALS, L.L.C.
CONNECTION TECHNOLOGY, L.L.C.
CSI TECHNOLOGIES, LLC
DRILLING LOGISTICS, L.L.C.
F. & F. WIRELINE SERVICE, L.L.C.
FASTORQ, L.L.C.
H.B. RENTALS, L.C.
INTERNATIONAL SNUBBING SERVICES, L.L.C.
J.R.B. CONSULTANTS, INC.
NON-MAGNETIC RENTAL TOOLS, L.L.C.
PROACTIVE COMPLIANCE, L.L.C.
PRODUCTION MANAGEMENT INDUSTRIES, L.L.C.
SEGEN LLC
SELIM LLC
SEMO, L.L.C.
SEMSE, L.L.C.
SPN RESOURCES, LLC
STABIL DRILL SPECIALTIES, L.L.C.
SUB-SURFACE TOOLS, L.L.C.
SUPERIOR CANADA HOLDING, INC.
SUPERIOR ENERGY SERVICES, L.L.C.
SUPERIOR INSPECTION SERVICES, INC.
UNIVERSAL FISHING AND RENTAL TOOLS, INC.
WILD WELL CONTROL, INC.
WORKSTRINGS, L.L.C.
By: | /s/ Xxxxxx X. Xxxxxx | |||||
Name: Xxxxxx X. Xxxxxx | ||||||
Title: Authorized Representative | ||||||
SE FINANCE LP | ||||||
By: | SEGEN, LLC, | |||||
Its General Partner | ||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||
Name: Xxxxxx X. Xxxxxx | ||||||
Title: Authorized Representative |
27
The foregoing Agreement is hereby confirmed and accepted as of the date first above written.
BEAR, XXXXXXX & CO. INC.
XXXXXX BROTHERS INC.
X.X. XXXXXX SECURITIES INC.
XXXXXX BROTHERS INC.
X.X. XXXXXX SECURITIES INC.
By:
|
BEAR, XXXXXXX & CO. INC. | |||
Acting on behalf of themselves | ||||
and as Representative | ||||
of the Initial Purchasers | ||||
By: |
/s/ Xxxx X. Xxxxxx | |||
Title: Senior Managing Director |
28