AMENDMENT NO. 4 AND WAIVER TO THIRD AMENDED AND RESTATED CREDIT AGREEMENTCredit Agreement • November 10th, 2008 • Global Industries LTD • Oil & gas field services, nec • New York
For purposes of determining the Applicable Margin applicable from time-to-time under this Agreement, the Fixed Charge Coverage Ratio (and corresponding Level) shall be determined from the financial statements of the Parent and its Subsidiaries most recently delivered pursuant to Section 5.05 and certified to Administrative Agent and the Lenders in the Compliance Certificate required to be delivered by the Parent in connection with such financial statements pursuant to Section 5.05(d). Any change in the Applicable Margin shall be effective on the fifth Business Day occurring after the date of receipt by the Administrative Agent of the financial statements pursuant to Section 5.05. If at any time the Parent fails to deliver such financial statements and Compliance Certificate within the times specified in Section 5.05, Level III shall be deemed to be in effect until the fifth Business Day after the Administrative Agent receives such financial statements.
