EXHIBIT 10.1 THIRD AMENDMENT TO LETTER AGREEMENT THIS THIRD AMENDMENT TO LETTER AGREEMENT (this "Amendment") dated effective as of June 30, 1998 (the "Effective Date"), is by and between ERC INDUSTRIES, INC. ("Borrower"), and CHASE BANK OF TEXAS,...Letter Agreement • August 14th, 1998 • Erc Industries Inc /De/ • Oil & gas field machinery & equipment • Texas
EXHIBIT 10.2 [LETTERHEAD OF WOOD GROUP PETROLEUM SERVICES APPEARS HERE] June 16, 1998 ERC Industries, Inc. 1441 Park Ten Boulevard Houston, Texas 77084 RE: $5 MILLION OVERDRAFT FACILITY Dear Sirs: This letter sets out the terms and conditions on which...Erc Industries Inc /De/ • August 14th, 1998 • Oil & gas field machinery & equipment
This letter sets out the terms and conditions on which we agree to grant to you an overdraft facility in the amount of FIVE MILLION ($5,000,000) UNITED STATES DOLLARS (the "Facility"), to be used solely for the purposes of providing working capital for your company. The Facility will be unsecured. The Facility is subject to an overriding right on our part to demand repayment of all or any part of the Facility at any time. This right is exercisable at our absolute discretion and without any requirement for us to show cause or breach of this Facility Letter.
