Exhibit 10(a)
SECOND AMENDMENT
TO CREDIT AGREEMENT
THIS SECOND AMENDMENT dated as of June 30, 1995 to the Credit
Agreement dated as of September 24, 1992 ("Agreement") between Xxxxxx
Drilling Company, a Delaware corporation (the "Borrower") and
Internationale Nederlanden (U.S.) Capital Corporation ("INCC").
WITNESSETH:
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WHEREAS, the Borrower and INCC are parties to the Agreement
referred to above; and
WHEREAS, the Borrower has requested INCC and INCC has agreed to
extend the Standby L/C Commitment Period to May 31, 1996;
WHEREAS, the parties hereto have agreed to such amendment subject
to the terms contained herein;
NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein contained, the Borrower and INCC agree as follows:
1. Amendment of Termination Date. The definition of
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Termination Date is hereby amended, as follows:
"'Termination Date' shall mean May 31, 1996, or if such day
is not a Business Day, the Business Day next preceding such
day;"
2. Effectiveness. This Amendment shall become effective as of
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the date first written above after being executed by the Borrower and
INCC and after Borrower has delivered to INCC Resolutions of the Board
of Directors of Borrower approving the execution, delivery and
performance of this Amendment.
3. Expenses. The Borrower agrees to pay on demand all
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reasonable costs and expenses incurred in connection with the
preparation, negotiation, execution and delivery of this Amendment,
including reasonable fees and expenses of counsel for INCC.
4. Definitions. Terms defined in the Agreement shall have
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their defined meanings when used herein.
5. Effect of Amendment. Except as amended and modified by this
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Amendment, the Agreement and all other Loan Documents shall continue to
be, and shall remain, in full force and effect in accordance with their
terms.
6. Governing Law. This Amendment shall be governed by, and
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construed and interpreted in accordance with, the laws of the State of
New York.
IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed and delivered by their respective duly authorized officers as
of the date first
written above.
XXXXXX DRILLING COMPANY
By:/s/ I. E. Xxxxxxx, Jr.
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Name: I. E. Xxxxxxx, Jr.
Title: Vice President-Treasurer
INTERNATIONAL NEDERLANDEN
(U.S.) CAPITAL CORPORATION
By:/s/ Xxxx Xxxxxxxxx
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Name: Xxxx Xxxxxxxxx
Title: Managing Director
