AMENDMENT NO. 1 TO FORBEARANCE AGREEMENTForbearance Agreement • February 15th, 2022 • Ion Geophysical Corp • Oil & gas field exploration services • New York
This AMENDMENT NO. 1 TO FORBEARANCE AGREEMENT (this “Amendment”) is made as of February 14, 2022, by and among ION Geophysical Corporation, a Delaware limited liability company (the “Company”), the guarantors party hereto (the “Guarantors”), and the undersigned beneficial holders (the “Directing Noteholders”) of, in the aggregate, $91,821,000 principal amount of the 8.00% Senior Secured Second Priority Notes due 2025 issued pursuant to the Indenture dated as of April 15, 2021 between the Company, UMB Bank, National Association, as trustee, UMB Bank, National Association, as collateral agent, and the guarantors party thereto, and amends the Forbearance Agreement, dated as of January 14, 2022, by and among the Company, the Guarantors, and the Directing Noteholders (the “Original Agreement,” and as amended by this Amendment, and when taken together as one agreement with the Original Agreement, the “Forbearance Agreement”). Capitalized terms used but not otherwise defined herein shall have
SECOND FORBEARANCE AND SIXTH AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENTCredit and Security Agreement • February 15th, 2022 • Ion Geophysical Corp • Oil & gas field exploration services
This SECOND FORBEARANCE AND SIXTH AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT (this “Agreement”), is made and entered into as of February 14, 2022, by and among ION GEOPHYSICAL CORPORATION, a Delaware corporation (“Geophysical”), ION EXPLORATION PRODUCTS (U.S.A.), INC., a Delaware corporation (“Exploration”), I/O MARINE SYSTEMS, INC., a Louisiana corporation (“Marine”), GX TECHNOLOGY CORPORATION, a Texas corporation (“GXT”), GX GEOSCIENCE CORPORATION, S. DE R.L. DE C.V., a Sociedad de Responsabilidad Limitada de Capital Variable organized under the laws of Mexico (“GX Geoscience” and, together with Geophysical, Exploration, Marine and GXT, collectively, the “Borrowers”, and each a “Borrower”), the financial institutions a party hereto as lenders (collectively, the “Lenders” and each individually a “Lender”) and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as agent for Lenders (PNC, in such capacity, together with its successors and assignees in such capacity, the “Agent”).
