EXHIBIT 10.1

Fourth Amendment to
Second Amended and Restated Credit Agreement
This Fourth Amendment to Second Amended and Restated Credit Agreement (this
“Fourth Amendment”), dated as of October 8, 2020 (the “Fourth Amendment
Effective Date”), is among Centennial Resource Production, LLC, a Delaware
limited liability company (the “Borrower”); Centennial Resource Development,
Inc., a Delaware corporation (the “Parent”); each of the other undersigned
guarantors (the “Guarantors”, and together with the Borrower and the Parent, the
“Credit Parties”); each of the Lenders party hereto; and JPMorgan Chase Bank,
N.A., as administrative agent for the Lenders (in such capacity, together with
its successors in such capacity, the “Administrative Agent”).
RECITALS:
A.    The Borrower, the Administrative Agent and the Lenders are parties to that
certain Second Amended and Restated Credit Agreement dated as of May 4, 2018 (as
amended, restated, amended and restated, supplemented or otherwise modified
prior to the date hereof, the “Credit Agreement”), pursuant to which the Lenders
have, subject to the terms and conditions set forth therein, made certain credit
available to and on behalf of the Borrower.
B.    (i) The Lenders party hereto desire to enter into this Fourth Amendment to
evidence the reaffirmation of the Borrowing Base at $700,000,000 as set forth in
Section 3 hereof, which reaffirmation shall constitute the October 1, 2020
Scheduled Redetermination of the Borrowing Base, and (ii) the parties hereto
desire to amend the Credit Agreement as set forth herein, in each case upon the
terms and conditions set forth herein and in each case to be effective as of the
Fourth Amendment Effective Date.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein
contained, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:
Section 1.    Defined Terms. Each capitalized term which is defined in the
Credit Agreement, but which is not defined in this Fourth Amendment, shall have
the meaning ascribed to such term in the Credit Agreement, as amended by this
Fourth Amendment. Unless otherwise indicated, all section references in this
Fourth Amendment refer to sections of the Credit Agreement.
Section 2.     Amendments. In reliance on the representations, warranties,
covenants and agreements contained in this Fourth Amendment, and subject to the
satisfaction of the conditions precedent set forth in Section 4 hereof, the
Credit Agreement shall be amended effective as of the Fourth Amendment Effective
Date in the manner provided in this Section 2.
2.1    Additional Definition. Section 1.02 of the Credit Agreement is hereby
amended to add thereto in alphabetical order the following definition which
shall read in full as follows:
“Fourth Amendment” means that certain Fourth Amendment to Second Amended and
Restated Credit Agreement dated as of October 7, 2020, among the Borrower, the
Guarantors party thereto, the Administrative Agent and the Lenders party
thereto.

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2.2    Amended and Restated Definition. The following definition contained in
Section 1.02 of the Credit Agreement is hereby amended and restated in its
entirety to read in full as follows:
“Loan Documents” means this Agreement, the First Amendment, the Second
Amendment, the Third Amendment, the Fourth Amendment, the Notes, the Letter of
Credit Agreements, the Letters of Credit, any Intercreditor Agreement, the Fee
Letter and the Security Instruments.
Section 3.    Borrowing Base and Aggregate Elected Commitment Amounts. Subject
to the satisfaction of the conditions precedent set forth in Section 4 hereof,
the Lenders hereby agree that the Borrowing Base of $700,000,000 is hereby
reaffirmed, and the Borrowing Base shall remain at $700,000,000 until the next
Scheduled Redetermination Effective Date, the next Interim Redetermination Date
or the next adjustment to the Borrowing Base under Section 2.07(e), Section
8.13(c) or Section 9.12, whichever occurs first, which reaffirmation of the
Borrowing Base shall constitute the October 1, 2020 Scheduled Redetermination of
the Borrowing Base for purposes of Section 2.07(b). This Section 3 constitutes
the New Borrowing Base Notice for the October 1, 2020 Scheduled Redetermination
of the Borrowing Base for purposes of Section 2.07(d). The Borrower hereby
reaffirms that the Aggregate Elected Commitment Amounts remain at $700,000,000
as of the Fourth Amendment Effective Date.
Section 4.     Conditions Precedent. The effectiveness of this Fourth Amendment
is subject to the following:
4.1    Counterparts. The Administrative Agent shall have received counterparts
of this Fourth Amendment from the Credit Parties and each of the Lenders
constituting at least the Required Lenders.
4.2     Fees and Expenses. The Administrative Agent shall have received, to the
extent invoiced, all fees and other amounts due and payable on or prior to the
Fourth Amendment Effective Date.
Section 5.    Miscellaneous.
5.1     Confirmation and Effect. The provisions of the Credit Agreement (as
amended by this Fourth Amendment) shall remain in full force and effect in
accordance with its terms following the effectiveness of this Fourth Amendment,
and this Fourth Amendment shall not constitute a waiver of any provision of the
Credit Agreement or any other Loan Document, except as expressly provided for
herein. Each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof’, “herein”, or words of like import shall mean and be a reference to the
Credit Agreement as amended hereby, and each reference to the Credit Agreement
in any other document, instrument or agreement executed and/or delivered in
connection with the Credit Agreement shall mean and be a reference to the Credit
Agreement as amended hereby.

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5.2    Ratification and Affirmation of Credit Parties. Each of the Credit
Parties hereby expressly (a) acknowledges the terms of this Fourth Amendment,
(b) ratifies and affirms its obligations under the Credit Agreement, the
Guaranty Agreement and the other Loan Documents to which it is a party, (c)
acknowledges, renews and extends its continued liability under the Credit
Agreement, the Guaranty Agreement and the other Loan Documents to which it is a
party, (d) agrees that its guarantee under the Guaranty Agreement and the other
Loan Documents to which it is a party remains in full force and effect with
respect to the Indebtedness as amended hereby, (e) represents and warrants to
the Lenders and the Administrative Agent that each representation and warranty
of such Credit Party contained in the Credit Agreement, the Guaranty Agreement
and the other Loan Documents to which it is a party is true and correct in all
material respects as of the date hereof and after giving effect to this Fourth
Amendment except (i) to the extent any such representations and warranties are
expressly limited to an earlier date, in which case, on and as of the date
hereof, such representations and warranties shall continue to be true and
correct as of such specified earlier date, and (ii) to the extent that any such
representation and warranty is expressly qualified by materiality or by
reference to Material Adverse Effect, such representation and warranty (as so
qualified) shall continue to be true and correct in all respects, (f) represents
and warrants to the Lenders and the Administrative Agent that the execution,
delivery and performance by such Credit Party of this Fourth Amendment are
within such Credit Party’s corporate, limited partnership or limited liability
company powers (as applicable), have been duly authorized by all necessary
action and that this Fourth Amendment constitutes the valid and binding
obligation of such Credit Party enforceable in accordance with its terms, except
as the enforceability thereof may be limited by bankruptcy, insolvency or
similar laws affecting creditor’s rights generally, and (g) represents and
warrants to the Lenders and the Administrative Agent that, after giving effect
to this Fourth Amendment, no Borrowing Base Deficiency, Default or Event of
Default exists.
5.3     Counterparts. This Fourth Amendment may be executed by one or more of
the parties hereto in any number of separate counterparts, and all of such
counterparts taken together shall be deemed to constitute one and the same
instrument. Delivery of this Fourth Amendment by facsimile or electronic (e.g.
pdf) transmission shall be effective as delivery of a manually executed original
counterpart hereof.
5.4    No Oral Agreement. This written Fourth Amendment, the Credit Agreement
and the other Loan Documents executed in connection herewith and therewith
represent the final agreement between the parties and may not be contradicted by
evidence of prior, contemporaneous, or unwritten oral agreements of the parties.
There are no subsequent oral agreements between the parties that modify the
agreements of the parties in the Credit Agreement and the other Loan Documents.
5.5     Governing Law. This Fourth Amendment (including, but not limited to, the
validity and enforceability hereof) shall be governed by, and construed in
accordance with, the laws of the State of New York.
5.6     Payment of Expenses. The Borrower agrees to pay or reimburse the
Administrative Agent for all of its reasonable out-of-pocket costs and expenses
incurred in connection with this Fourth Amendment, any other documents prepared
in connection herewith and the transactions contemplated hereby, including,
without limitation, the reasonable fees and disbursements of counsel to the
Administrative Agent.

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5.7     Severability. Any provision of this Fourth Amendment which is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.
5.8     Successors and Assigns. This Fourth Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns.
[Signature page follows]

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The parties hereto have caused this Fourth Amendment to be duly executed as of
the day and year first above written.
BORROWER:
 
 
CENTENNIAL RESOURCE PRODUCTION, LLC,
a Delaware limited liability company
 
 
By:
/s/ George S. Glyphis
 
George S. Glyphis
 
Vice President and Chief Financial Officer
 
 
PARENT:
 
 
CENTENNIAL RESOURCE DEVELOPMENT, INC.,
a Delaware corporation
 
 
By:
/s/ George S. Glyphis
 
George S. Glyphis
 
Vice President and Chief Financial Officer

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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GUARANTORS:
 
 
ATLANTIC EXPLORATION, LLC
a Delaware limited liability company
 
 
By:
/s/ George S. Glyphis
 
George S. Glyphis
 
Vice President and Chief Financial Officer
 
 
PARENT:
 
 
CENTENNIAL RESOURCE MANAGEMENT, LLC,
a Delaware limited liability company
 
 
By:
/s/ George S. Glyphis
 
George S. Glyphis
 
Vice President and Chief Financial Officer

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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JPMORGAN CHASE BANK, N.A.,
an Administrative Agent and a Lender
 
 
By:
/s/ Michael A. Kamauf
Name:
Michael A. Kamauf
Title:
Authorized Officer

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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WELLS FARGO BANK, N.A.,
as a Lender
 
 
By:
/s/ Edward Pak
Name:
Edward Pak
Title:
Director

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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COMERICA BANK,
as a Lender
 
 
By:
/s/ Caroline M. McClurg
Name:
Caroline M. McClurg
Title:
Senior Vice President

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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BMO HARRIS BANK, N.A.,
as a Lender
 
 
By:
/s/ Matthew L. Davis
Name:
Matthew L. Davis
Title:
Director

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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CANADIAN IMPERIAL BANK OF
COMMERCE, NEW YORK BRANCH,
as a Lender
 
 
By:
/s/ Donovan C. Broussard
Name:
Donovan C. Broussard
Title:
Authorized Signatory
 
 
By:
/s/ Jacob W. Lewis
Name:
Jacob W. Lewis
Title:
Authorized Signatory

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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U.S. BANK NATIONAL ASSOCIATION,
as a Lender
 
 
By:
/s/ John C. Lozano
Name:
John C. Lozano
Title:
Senior Vice President

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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ROYAL BANK OF CANADA,
as a Lender
 
 
By:
/s/ Kristan Spivey
Name:
Kristan Spivey
Title:
Authorized Signatory

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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CITIBANK, N.A.,
as a Lender
 
 
By:
/s/ Jeff Ard
Name:
Jeff Ard
Title:
Vice President

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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FIFTH THIRD BANK,
as a Lender
 
 
By:
/s/ Jonathan H Lee
Name:
Jonathan H Lee
Title:
Director

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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KEYBANK, NATIONAL ASSOCIATION,
as a Lender
 
 
By:
/s/ George E. McKean
Name:
George E. McKean
Title:
Senior Vice President

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC

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PNC BANK, NATIONAL ASSOCIATION,
as a Lender
 
 
By:
/s/ Denise S. Davis
Name:
Denise S. Davis
Title:
Director

Signature Page to Fourth Amendment to Second Amended and Restated Credit
Agreement
Centennial Resource Production, LLC