GULFMARK OFFSHORE, INC. (NYSE:GLF) Files An 8-K Entry into a Material Definitive Agreement

GULFMARK OFFSHORE, INC. (NYSE:GLF) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01. Entry into a Material Definitive Agreement

On June 26, 2017,GulfMark Americas, Inc. and GulfMark Management,
Inc., each a subsidiary of GulfMark Offshore, Inc. (the
Company), entered into
aforbearanceagreement (the RBS
ForbearanceAgreement
) with The Royal Bank of
Scotland plc, as agent for the lenders (the
Agent), relating to that certain
Multicurrency Facility Agreement dated as of September 26, 2014
(as amended, supplemented and/or restated from time to time, the
RBSFacility Agreement). to theRBS
ForbearanceAgreement, the Agent agreed to waive the defaults and
events of default specified in theRBS ForbearanceAgreement and to
forbear from exercising any rights or remedies under
theRBSFacility Agreement as a result of any such defaults and
events of default specified in theRBS ForbearanceAgreement until
the earlier of (x) the occurrence any of the early termination
events specified in theRBS ForbearanceAgreement, (y) the
effectiveness of the Companys proposed plan of reorganization
filed with the U.S. Bankruptcy Court for the District of Delaware
on June 26, 2017 (including all exhibits and schedules thereto,
and as amended, modified or supplemented solely in accordance
with the RBS Forbearance Agreement) and (z) September 4, 2017. In
addition, the Agent agreed in theRBS ForbearanceAgreement that
during such period the provision in theRBSFacility Agreement that
would result in an automatic acceleration of the outstanding
obligations, termination of the lending commitments and a
requirement to cash-collateralize letters of credit as specified
in the RBS Forbearance Agreement shall not apply.

A copy of theRBS ForbearanceAgreement is filed as Exhibit 10.1
hereto and is incorporated herein by reference. The above
description of theRBS ForbearanceAgreement is qualified in its
entirety by the full text of such exhibit.

Item 9.01.Financial Statements and Exhibits

(d) Exhibits.

Exhibit number Description

10.1

RBS Forbearance Agreement dated June 26, 2017 among
GulfMark Americas, Inc., GulfMark Management, Inc. and the
Agent



GULFMARK OFFSHORE INC Exhibit
EX-10.1 2 ex10-1.htm EXHIBIT 10.1 ex10-1.htm Exhibit 10.1       26 June 2017   To: GulfMark Americas,…
To view the full exhibit click here
About GULFMARK OFFSHORE, INC. (NYSE:GLF)

GulfMark Offshore, Inc. provides offshore marine support and transportation services. The Company offers these services to companies engaged in the offshore exploration and production of oil and natural gas. The Company operates in three segments: the North Sea (N. Sea), Southeast Asia (SEA) and the Americas. Its vessels transport materials, supplies and personnel to offshore facilities, as well as move and position drilling and production facilities. The operations are conducted in the North Sea, offshore Southeast Asia and offshore in the Americas. It operates a fleet of over 70 owned or managed offshore supply vessels (OSVs), which include over 30 vessels in the North Sea, over 10 vessels offshore Southeast Asia and over 30 vessels offshore the Americas. Its customers include oil and natural gas companies, independent oil and natural gas exploration and production companies working in international markets, and foreign Government-owned or controlled oil and natural gas companies.

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