SEC Filings

HORNBECK OFFSHORE SERVICES INC /LA filed this Form 8-K on 08/07/2003
Entire Document

accepted accounting principles consistently applied, the financial position of
the Vessel Owning Company as of the dates indicated and the results of
operations of the Vessel Owning Company for the periods then ended. There are no
assets or properties of Seller, Manager and the Vessel Owning Company that
constitute any part of the Assets or Business, and there are no definite
liabilities or, to the knowledge of Stockholder, Manager or Seller, contingent
liabilities, that are not reflected in the Financial Statements and such
detailed schedules.

         2.8 CUSTOMARY BUSINESS PRACTICE. Neither Stockholder, Seller nor
Manager, or any officer, director, employee or agent of such parties acting on
behalf of any such parties has made or authorized the making of, directly or
indirectly, any offer, payment, promise to pay, or authorization of the payment
of any money, or offer, gift, promise to give, or authorization of the giving of
anything of value to:

         (a) any political party or official thereof or any candidate for
political office; or

         (b) any customer, supplier or competitor of Stockholder, Seller,
Manager or any employee, agent, officer or director thereof, as applicable;

in violation of applicable law in order to assist any of the referenced parties
in obtaining or retaining business for or with, or directing business to, any

         2.9 ABSENCE OF CERTAIN CHANGES OR EVENTS. Except for the Predicate
Transaction and the execution of agreements to effect the Predicate Transaction,
there has not been, occurred or arisen any of the following that relate to the
Business or the Assets since December 31, 2002:

         (a) any transaction by Seller except in the ordinary course of

         (b) any capital expenditure by Seller;

         (c) any change in, or any event, condition or state of facts of any
character peculiar to the Assets or the operation of the Business that
individually or in the aggregate adversely affects the Business or the Assets,
or that affects the validity or enforceability of this Agreement;

         (d) any destruction, damage, or loss suffered by the Business or with
respect to any Asset (whether or not covered by insurance) in excess of

         (e) any increase in the salary or other compensation, including without
limitation all wages, salary, deferred payment arrangements, bonus payments and
accruals, profit sharing arrangements, payment in respect of stock options or
phantom stock options or similar arrangements, stock appreciation rights or
similar rights, incentive payments, pension or employment benefit contributions
or similar payments, payable or to become payable by Seller or Manager to any of
its vessel-based employees, or the declaration, payment or commitment or
obligation of any kind for the payment by Seller or Manager of a bonus or
increased or additional salary or compensation to any such person;

         (f) any sale, lease or other disposition of any Asset; except for any
charter agreements that may be entered into prior to Closing which constitute
Permitted Liens;