U.S. $500,000,000 Senior Secured Superpriority Debtor-in-Possession Credit Agreement Dated as of September 25, 2020 Among Valaris plc, as Lead Borrower, Each Other Subsidiary From Time to Time Parties Hereto, as a Borrower The Several Lenders from...Senior Secured Superpriority Debtor-in-Possession Credit Agreement • September 28th, 2020 • Valaris PLC • Drilling oil & gas wells • New York
THIS SENIOR SECURED SUPERPRIORITY DEBTOR-IN-POSSESSION CREDIT AGREEMENT, dated as of September 25, 2020, is among VALARIS PLC, an English public limited company (“Valaris”) and a debtor and debtor-in-possession under chapter 11 of the Bankruptcy Code (as defined below), any Subsidiary (as defined below) of Valaris that becomes a borrower hereunder in accordance with Section 2.15 (each such Subsidiary party hereto and each such Subsidiary that subsequently executes a Borrower Counterpart (as defined herein) as permitted under the terms of this Agreement, together with Valaris, collectively referred to herein as the “Borrowers” and each a “Borrower”), WILMINGTON SAVINGS FUND SOCIETY, FSB, as DIP Agent and the DIP Lenders (each as defined herein) party hereto from time to time.
