<SEC-DOCUMENT>0001181431-12-025722.txt : 20120426
<SEC-HEADER>0001181431-12-025722.hdr.sgml : 20120426
<ACCEPTANCE-DATETIME>20120426144850
ACCESSION NUMBER:		0001181431-12-025722
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120424
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120426
DATE AS OF CHANGE:		20120426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OYO GEOSPACE CORP
		CENTRAL INDEX KEY:			0001001115
		STANDARD INDUSTRIAL CLASSIFICATION:	MEASURING & CONTROLLING DEVICES, NEC [3829]
		IRS NUMBER:				760447780
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13601
		FILM NUMBER:		12783037

	BUSINESS ADDRESS:	
		STREET 1:		7007 PINEMONT DR.
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77040
		BUSINESS PHONE:		7139864444

	MAIL ADDRESS:	
		STREET 1:		7007 PINEMONT DR.
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77040
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rrd343140.htm
<DESCRIPTION>SECOND AMENDMENT TO LOAN AGREEMENT
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			Prepared By R.R. Donnelley Financial -- Form 8-K
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				<b>UNITED STATES </b>
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				<b>SECURITIES AND EXCHANGE COMMISSION</b>
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				<b>Washington, D.C. 20549</b>
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				<b>Form 8-K </b>
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				<b>CURRENT REPORT</b>
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				<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b>
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				<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;04/24/2012 </b>
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				<b>OYO GEOSPACE CORPORATION</b>
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				<b>(Exact name of registrant as specified in its charter)</b>
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				<b>Commission File Number:&nbsp;&nbsp;001-13601</b>
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								<b>DE</b>
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							&nbsp;&nbsp;
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								<b>76-0447780</b>
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								<b>(State or other jurisdiction of</b>
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							&nbsp;&nbsp;
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								<b>(IRS Employer</b>
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								<b>incorporation)</b>
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							&nbsp;&nbsp;
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								<b>Identification No.)</b>
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				<b>7007 Pinemont Drive, Houston, TX 77040</b>
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				<b>(Address of principal executive offices, including zip code)</b>
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				<b>(713) 986-4444</b>
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				<b>(Registrant&#146;s telephone number, including area code)</b>
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				<b> </b>
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				<b>(Former name or former address, if changed since last report)</b>
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			<b>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR><BR></b>
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			<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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				<b>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement</b>
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				On April 24, 2012, OYO Geospace Corporation (the "Company") entered into a Second Amendment to Loan Agreement (the "Second Amendment"), which is effective as of March 31, 2012.  The Second Amendment amends that certain Loan Agreement dated as of March 2, 2011, by and among the Company, as borrower, certain of the Company's subsidiaries, as guarantors, and The Frost National Bank, as lender, as amended by the First Amendment to Loan Agreement dated March 2, 2011 (the "Loan Agreement"), to exclude investments in rental equipment from the calculation of capital expenditures as applied in determining the Company's compliance with its cash flow coverage ratio covenant under the Loan Agreement.  The Second Amendment is attached hereto as Exhibit 10.1.  The foregoing description is qualified in its entirety by reference to such exhibit.
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				<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b>
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				Exhibit 10.1 Second Amendment to Loan Agreement effective as of March 31, 2012, among OYO Geospace Corporation, as borrower, certain subsidiaries of OYO Geospace Corporation, as guarantors, and The Frost National Bank, as lender.
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			<b>SIGNATURES</b>
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			Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
			duly authorized.
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					&nbsp;
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							OYO GEOSPACE CORPORATION
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					&nbsp;
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							Date: April 26, 2012
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							By:
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					&nbsp;
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						/s/&nbsp;&nbsp;&nbsp;&nbsp;Thomas T. McEntire</font>
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						Thomas T. McEntire</font>
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						Vice President, Chief Financial Officer and Secretary
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			<b>EXHIBIT INDEX</b>
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			&nbsp;
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								<b>Exhibit&nbsp;No.</b>
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								<b>Description</b></font>
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								EX-10.1
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						<font Face="times New Roman" Size="2">&nbsp;&nbsp;</font>
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								Second Amendment to Loan Agreement effective March 31, 2012, among OYO Geospace Corporation, as borrower, certain subsidiaries of OYO Geospace Corporation, as guarantors, and The Frost National Bank, as lender.</font>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>2
<FILENAME>rrd343140_37627.htm
<DESCRIPTION>SECOND AMENDMENT TO LOAN AGREEMENT EFFECTIVE MARCH 31, 2012, AMONG OYO GEOSPACE CORPORATION, AS BORROWER, CERTAIN SUBSIDIARIES OF OYO GEOSPACE CORPORATION, AS GUARANTORS, AND THE FROST NATIONAL BANK, AS LENDER.
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<TITLE>Frost Mass Marketing (98) Amended and Restated Loan Agreement</TITLE>
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<B><U><P ALIGN="CENTER">SECOND AMENDMENT TO LOAN AGREEMENT</P>
</U><P ALIGN="JUSTIFY">THIS SECOND AMENDMENT TO LOAN AGREEMENT</B> (this "<U>Amendment</U>") is entered into as of the 24th day of April, 2012, to be effective as of March 31, 2012, by and among <B><FONT FACE="Times New Roman Bold">OYO Geospace Corporation</B></FONT>,<B> </B>a Delaware corporation ("<U>Borrower</U>"), <B>EACH OF THE DOMESTIC SUBSIDIARIES OF THE BORROWER</B> identified on <U>Schedule&nbsp;1</U> hereto (collectively, "<U>Guarantors</U>"), and <B>THE FROST NATIONAL BANK</B>, a national banking association ("<U>Lender</U>").</P>
<B><P ALIGN="CENTER">RECITALS</P>
<OL TYPE="A">
<OL TYPE="A">
</B><P ALIGN="JUSTIFY"><LI>On March 2, 2011, Borrower, Guarantors and Lender entered into that certain Loan Agreement, as amended by that certain First Amendment to Loan Agreement dated March 2, 2011 (<A NAME="OLE_LINK1"><A NAME="OLE_LINK2">as amended, modified and restated, </A></A>the "<U>Loan Agreement</U>"), concerning, among other things, the terms, conditions and covenants of those certain Loans (as defined in the Loan Agreement).  The Loans are evidenced by that certain Revolving Promissory Note dated March 2, 2011 in the original principal amount of $25,000,000.00 executed by Borrower and payable to the order of Lender.</LI></P>
<P ALIGN="JUSTIFY"><LI>Borrower has requested and Lender has also agreed to modify certain financial covenants contained in the Loan Agreement and further amend the Loan Agreement as contained herein.</LI></P>
<P ALIGN="JUSTIFY"><LI>All capitalized terms not otherwise defined in this Amendment shall have the same meanings as are set forth in the Loan Agreement.</LI></P></OL>
</OL>
<P ALIGN="JUSTIFY">NOW, THEREFORE, for and in consideration of the premises and mutual covenants herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower, Guarantors and Lender hereby agree as follows:</P>
<B><P ALIGN="CENTER">AGREEMENTS</P>
<OL>
</B><U><P ALIGN="JUSTIFY"><LI>Amendment</U>.</LI></P>
<P ALIGN="JUSTIFY">  Section 8.03 of the Loan Agreement is hereby amended in its entirety to read as follows:</P>
<P ALIGN="JUSTIFY">Section 8.03. <U>Cash Flow Coverage Ratio</U>.  Maintain, for the twelve-month period ending on the last day of each fiscal quarter of Borrower commencing on March 31, 2012, a ratio of (a) Net Income, <U>plus</U> depreciation and amortization expense, <U>plus</U> Interest Expense, <U>less</U> capital expenditures (excluding "Investments in rental equipment" as reflected on the Consolidated Statement of Cash Flows of Borrower) and <U>less</U> any Distributions, to (b) current principal payments of long-term debt <U>plus</U> Interest Expense, of Borrower and its Subsidiaries on a consolidated basis of not less than 1.5 to 1.0.</P>
<U><P ALIGN="JUSTIFY"><LI>No Other Amendment</U>.</LI></P>
<P ALIGN="JUSTIFY">  Except as specifically modified or amended herein, all terms, provisions and requirements of the Loan Agreement shall remain as written.  </P>
<U><P ALIGN="JUSTIFY"><LI>Reaffirmation</U>.</LI></P>
<P ALIGN="JUSTIFY">  Borrower and Guarantors hereby reaffirm all covenants, conditions, representations and warranties contained in the Loan Agreement, as amended by this Amendment.</P>
<U><P ALIGN="JUSTIFY"><LI>Counterparts</U>.  This Amendment may be executed in counterpart originals, no one of which need contain the signature of all parties, but all of which together shall constitute one and the same instrument.</LI></P>
<U><P ALIGN="JUSTIFY"><LI>Governing Law</U>.</LI></P>
<P ALIGN="JUSTIFY">  This Amendment and all other Loan Documents shall be governed by, and construed in accordance with, the laws of the State of Texas, excluding those laws relating to the resolution of conflicts between laws of different jurisdictions.</P>
<U><P ALIGN="JUSTIFY"><LI>Headings</U>.</LI></P></OL>
<P ALIGN="JUSTIFY">  The headings preceding the text of the paragraphs of this Amendment have been inserted solely for convenience of reference and shall neither constitute a part of this Amendment nor affect its meaning, interpretation, or effect.</P>
<B><P ALIGN="CENTER">NOTICE TO COMPLY WITH STATE LAW</P>
</B><P ALIGN="JUSTIFY">For the purpose of this Notice, the term "WRITTEN AGREEMENT" shall mean this Amendment, the Loan Agreement, and the other Loan Documents, together with each and every other document relating to and/or securing the Loans, regardless of the date of execution.</P>
<B><P ALIGN="CENTER">NOTICE OF FINAL AGREEMENT</P><DIR>
<DIR>
<P ALIGN="JUSTIFY">THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.</P>
<P ALIGN="JUSTIFY">THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.</P>
</B><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P></DIR>
</DIR>
<B><P ALIGN="CENTER">[Signatures on the following pages]</P>
</B><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<B><P ALIGN="JUSTIFY">&nbsp;</P>
</B><P ALIGN="JUSTIFY">IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.</P><DIR>
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<DIR>
<DIR>
<U><P ALIGN="JUSTIFY">LENDER</U>:</P>
<B><P ALIGN="JUSTIFY">THE FROST NATIONAL BANK</B>, a national banking association</P>
<P>&nbsp;</P>
<P ALIGN="JUSTIFY">By:<U>&#9;/s/ Larry Hammond&#9;&#9;&#9;&#9;</P>
</U><P ALIGN="JUSTIFY">Name: Larry Hammon</P>
<P ALIGN="JUSTIFY">Title: Market President</P>
<P>&nbsp;</P>
<U><P ALIGN="JUSTIFY">BORROWER</U>:</P>
<P ALIGN="JUSTIFY"></P>
<B><P ALIGN="JUSTIFY">OYO GEOSPACE CORPORATION</B>, a Delaware corporation</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">By:<U>&#9;/s/ Thomas T. McEntire&#9;&#9;&#9;</P><DIR>
</U><P ALIGN="JUSTIFY">      Thomas T. McEntire, Vice President, Chief Financial Officer and Secretary</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P></DIR>
<U><P ALIGN="JUSTIFY">GUARANTORS</U>:</P>
<P ALIGN="JUSTIFY"></P>
<B><P ALIGN="JUSTIFY">OYOG OPERATIONS, LP</P>
<P ALIGN="JUSTIFY">GEOSPACE TECHNOLOGIES, LP</P>
<P ALIGN="JUSTIFY">OYO INSTRUMENTS, LP</P>
<P ALIGN="JUSTIFY">CONCORD TECHNOLOGIES, LP</P>
<P ALIGN="JUSTIFY">GEOSPACE ENGINEERING RESOURCES </P>
<P ALIGN="JUSTIFY">  INTERNATIONAL, LP</P>
</B><P ALIGN="JUSTIFY"></P><DIR>
<DIR>
<P ALIGN="JUSTIFY">By:&#9;OYOG, LLC, a Delaware limited liability company, its general partner</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&#9;By:<U>&#9;/s/ Thomas T. McEntire&#9;&#9;</P><DIR>
</U><P ALIGN="JUSTIFY">Thomas T. McEntire, Vice President, Chief Financial Officer and Secretary</P>
<P ALIGN="JUSTIFY"></P>
<P>&nbsp;</P></DIR>
</DIR>
</DIR>
<B><P>GEOSPACE TECHNOLOGIES CORPORATION</P>
<P ALIGN="JUSTIFY">GEOSPACE FINANCE CORP.</P>
<P ALIGN="JUSTIFY">OYOG, LLC</P>
<P ALIGN="JUSTIFY">OYOG LIMITED PARTNER, LLC</P>
</B><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">By:<U>&#9;/s/ Thomas T. McEntire&#9;&#9;&#9;</P><DIR>
</U><P ALIGN="JUSTIFY">      Thomas T. McEntire, Vice President, Chief Financial Officer and Secretary of each of the Guarantors named above</P>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
<B><P ALIGN="CENTER">SCHEDULE 1</P>
<P ALIGN="CENTER">TO</P>
<U><P ALIGN="CENTER">SECOND AMENDMENT TO LOAN AGREEMENT</P>
</B></U><P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">Guarantors</P>
</B><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">(1)&#9;OYOG Operations, LP, a Texas limited partnership</P>
<P ALIGN="JUSTIFY">(2)&#9;Geospace Technologies, LP, a Texas limited partnership </P>
<P ALIGN="JUSTIFY">(3)&#9;OYO Instruments, LP, a Texas limited partnership</P>
<P ALIGN="JUSTIFY">(4)&#9;Geospace Engineering Resources International, LP, a Texas limited partnership</P>
<P ALIGN="JUSTIFY">(5)&#9;Concord Technologies, LP, a Texas limited partnership</P>
<P ALIGN="JUSTIFY">(6)&#9;Geospace Technologies Corporation, a Delaware corporation</P>
<P ALIGN="JUSTIFY">(7)&#9;Geospace Finance Corp., a Texas corporation</P>
<P ALIGN="JUSTIFY">(8)&#9;OYOG, LLC, a Delaware limited liability company</P>
<P ALIGN="JUSTIFY">(9)&#9;OYOG Limited Partner, LLC, a Texas limited liability company</P>
<P ALIGN="JUSTIFY"></P></BODY>
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