GULFMARK OFFSHORE, INC. (NYSE:GLF) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement
RBS Forbearance Extension
As previously reported, on May 19, 2017, GulfMark Americas, Inc.
(GulfMark Americas) and GulfMark
Management, Inc. (GulfMark Management),
each a subsidiary of GulfMark Offshore, Inc. (the
Company), entered into a forbearance
agreement (the RBS Forbearance
Agreement) 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 RBS Facility
Agreement). to the RBS Forbearance Agreement, the
Agent agreed, among other things, to waive the defaults and
events of default specified in the RBS Forbearance Agreement and
to forbear from exercising any rights or remedies under the RBS
Facility Agreement as a result of any such defaults and events of
default specified in the RBS Forbearance Agreement until the
earlier of May 31, 2017 and the occurrence of any of the early
termination events specified in the RBS Forbearance Agreement. On
May 31, 2017, GulfMark Americas and GulfMark Management entered
into an extension agreement with the Agent that extended the
forbearance period until the earlier of June 16, 2017 and the
occurrence of any of the specified early termination events.
GulfMark Americas and GulfMark Management entered into a second
extension agreement (the RBS Extension
Agreement) with the Agent as of June 16, 2017 that
extends the forbearance period until the earlier of (x) the later
of (i) 12:01 a.m. (New York time) June 27, 2017 and (ii) 12:01
a.m. on the business date that immediately follows the date on
which a hearing to approve the disclosure statement in the
bankruptcy case of the Company is held and concluded, but not
later than June 30, 2017, and (y) the occurrence of any of the
specified early termination events.
A copy of the RBS Extension Agreement is filed as Exhibit 10.1
hereto and is incorporated herein by reference. The above
description of the RBS Extension Agreement 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 Extension Agreement dated June 16, 2017 among GulfMark |
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.
