CREDIT AGREEMENT $50,000,000 Revolving Credit Facility among MITCHAM INDUSTRIES, INC., as Borrower, THE LENDERS PARTY HERETO, and HSBC BANK USA, N.A., as Administrative Agent, Lead Arranger and Sole Bookrunner Dated as of August 2, 2013Credit Agreement • August 5th, 2013 • Mitcham Industries Inc • Services-equipment rental & leasing, nec • New York
For purposes of the foregoing, (a) the Leverage Ratio shall be determined as of the last day of each Fiscal Quarter and set forth in the Compliance Certificate delivered pursuant to Section 6.2(b), and (b) each change in the Applicable Margin resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the date of delivery to the Administrative Agent of the Compliance Certificate indicating such change and ending on the date immediately preceding the effective date of the next such change. If the Borrower fails to deliver the financial statements and corresponding Compliance Certificate to the Administrative Agent at the time required pursuant to Section 6.2(b), then effective as of the date such financial statements and Compliance Certificate were required to be delivered pursuant to Section 6.2(b), the Applicable Margin with respect Loans and to commitment fees payable hereunder shall be determined at Level V and shall remain at such
SECURITY AND PLEDGE AGREEMENTSecurity and Pledge Agreement • August 5th, 2013 • Mitcham Industries Inc • Services-equipment rental & leasing, nec • New York
This SECURITY AND PLEDGE AGREEMENT (this “Agreement”) dated as of August 2, 2013, is among Mitcham Industries, Inc., a Texas corporation (“Borrower”), the Guarantors party hereto (together with the Borrower, the “Debtors”), and HSBC Bank USA, N.A., as Administrative Agent under the Credit Agreement (as herein defined), not in its individual capacity, but solely as collateral agent for the Lenders and other Secured Parties (as such terms are defined herein) (in such capacity, together with its successors in such capacity, the “Administrative Agent”).
