Exhibit 10.1

THIRD AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

dated as of

June 30, 2014

among

ATLAS RESOURCE PARTNERS, L.P.,

as Borrower,

THE LENDERS PARTY HERETO,

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent

JPMORGAN CHASE BANK, N.A., and

BANK OF AMERICA, N.A.,

as Co-Documentation Agents

WELLS FARGO SECURITIES, LLC,

DEUTSCHE BANK SECURITIES INC., and

CITIBANK GLOBAL MARKETS, INC.,

as Joint Lead Arrangers and Joint Bookrunners

 

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THIRD AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

This THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this
“Third Amendment”), dated as of June 30, 2014 (the “Third Amendment Effective
Date”), is among ATLAS RESOURCE PARTNERS, L.P., a limited partnership formed
under the laws of the State of Delaware (the “Borrower”); each of the
undersigned guarantors (the “Guarantors”, and together with the Borrower, the
“Loan Parties”); each of the Lenders that is a signatory hereto; and WELLS FARGO
BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such
capacity, together with its successors, 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 July 31, 2013
(as amended 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. The Borrower has advised the Administrative Agent and the Lenders that ARP
Rangely Production, LLC, a Delaware limited liability company and an indirect
Wholly-Owned Subsidiary of the Borrower (“ARP Rangely”), has entered into that
certain Purchase and Sale Agreement executed on May 6, 2014 (such version, the
“Merit Acquisition Agreement”) among ARP Rangely, the Borrower, Merit Management
Partners I, L.P., a Delaware limited partnership (“MMPI”), Merit Energy Partners
III, L.P., a Delaware limited partnership (“MEPIII”), and Merit Energy Company,
LLC, a Delaware limited liability company (“MEC” and, collectively with MMPI and
MEPIII, the “Sellers”), pursuant to which ARP Rangely will acquire the Merit
Assets from the Sellers.

C. In connection with the Merit Acquisition, the parties hereto desire to enter
into this Third Amendment to (i) amend certain terms of the Credit Agreement as
more particularly set forth herein and (ii) establish a Borrowing Base of
$825,000,000, in each case, to be effective as of the Third 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 Third Amendment, shall have the
meaning ascribed such term in the Credit Agreement, as amended hereby. Unless
otherwise indicated, all section references in this Third Amendment refer to the
Credit Agreement.

Section 2. Amendments. In reliance on the representations, warranties, covenants
and agreements contained in this Third 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 Third Amendment Effective
Date in the manner provided in this Section 2.

 

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2.1 Additional Definitions. Section 1.02 of the Credit Agreement is hereby
amended to add thereto in alphabetical order the following definitions which
shall read in full as follows:

“Consolidated Gross Margin” means, for any period, EBITDA for such period plus,
to the extent deducted from Consolidated Net Income in such period, G&A
Expenses.

“G&A Expenses” means, for any period, general and administrative expenses
(including, without limitation, employee expenses, insurance premiums and
accounting fees) of Borrower and the Restricted Subsidiaries for such period;
provided that any such general and administrative expenses added back in the
definition of EBITDA in such period shall be excluded from “G&A Expenses”.

“Merit Acquisition Agreement” has the meaning given to such term in the Third
Amendment.

“Merit Acquisition Documents” means (a) the Merit Acquisition Agreement and
(b) all bills of sale, assignments, agreements, instruments and documents
executed and delivered in connection therewith.

“Partnership Oil and Gas Margin” means, for any period, to the extent included
in Consolidated Net Income for such period, (a) the aggregate sum of revenues of
all Designated Partnerships and Undesignated Partnerships derived from their
respective Oil and Gas Properties minus (b) any expenses incurred by such
Designated Partnerships and Undesignated Partnerships in connection with the
production from such Oil and Gas Properties (expressly excluding any general and
administrative expenses of such Designated Partnerships and Undesignated
Partnerships).

“Third Amendment” means that certain Third Amendment to Second Amended and
Restated Credit Agreement dated as of June 30, 2014, among the Borrower, the
Guarantors, the Administrative Agent and the Lenders.

“Third Amendment Effective Date” means June 30, 2014.

2.2 Amended Definitions. The definitions of “Applicable Margin”, “Borrowing
Base”, “Commitment”, “Consolidated Net Income”, “EBITDA”, “Loan Documents”, and
“Total Funded Debt” contained in Section 1.02 of the Credit Agreement are hereby
amended and restated in their entirety to read in full as follows:

“Applicable Margin” means, for any day, with respect to any Loan, the applicable
rate per annum set forth below based on Borrowing Base Utilization Percentage on
such day:

 

Borrowing Base

Utilization Percentage

 

Eurodollar Loans

 

ABR Loans

 

Commitment

Fee Rate

³ 90%

  2.75%   1.75%   0.500%

³ 75% and < 90%

  2.25%   1.25%   0.500%

³ 50% and < 75%

  2.00%   1.00%   0.500%

³ 25% and < 50%

  1.75%   0.75%   0.375%

< 25%

  1.50%   0.50%   0.375%

 

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Each change in the Applicable Margin shall apply during the period commencing on
the effective date of a change in the Borrowing Base Utilization Percentage and
ending on the date immediately preceding the effective date of the next such
change.

“Borrowing Base” means, at any time, an amount equal to the amount determined in
accordance with Section 2.07, as the same may be adjusted from time to time
between Redetermination Dates pursuant to Section 2.07(f), Section 2.07(g) or
Section 8.12(d). As of the Third Amendment Effective Date, the Borrowing Base
shall be $825,000,000.

“Commitment” means, with respect to each Lender, the commitment of such Lender
to make Loans and to acquire participations in Letters of Credit hereunder,
expressed as an amount representing the maximum aggregate amount of such
Lender’s Credit Exposure hereunder, as such commitment may be (a) modified from
time to time pursuant to Section 2.06 and (b) modified from time to time
pursuant to assignments by or to such Lender pursuant to Section 12.04(b); and
“Commitments” means the aggregate amount of the Commitments of all the Lenders.
The amount representing each Lender’s Commitment shall at any time be the lesser
of (i) such Lender’s Maximum Credit Amount and (ii) such Lender’s Applicable
Percentage of the then effective Borrowing Base. As of the Third Amendment
Effective Date, the aggregate Commitments of the Lenders are $825,000,000.

“Consolidated Net Income” means with respect to the Borrower and the Restricted
Subsidiaries, for any period, the aggregate of the net income (or loss) of the
Borrower and the Restricted Subsidiaries after allowances for taxes for such
period determined on a consolidated basis in accordance with Section 1.05;
provided that there shall be excluded from such net income (to the extent
otherwise included therein) the following: (a) the net income (but not loss)
during such period of any Restricted Subsidiary to the extent that the
declaration or payment of dividends or similar distributions by that Restricted
Subsidiary to the Borrower or a Restricted Subsidiary is not at the time
permitted by operation of

 

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the terms of its charter or any agreement, instrument or Law applicable to such
Restricted Subsidiary or is otherwise restricted or prohibited, to the extent so
restricted or prohibited, in each case determined in accordance with GAAP;
(b) the net income (or loss) of any Person acquired in a pooling-of-interests
transaction for any period prior to the date of such transaction; (c) any
extraordinary gains or losses during such period; and (d) any gains or losses
attributable to writeups or writedowns of assets, including writedowns under ASC
Topics 350 and 360; provided further that if the Borrower or any Restricted
Subsidiary shall consummate a Material Acquisition or Material Disposition
(other than a disposition permitted under Section 9.11(i)), then Consolidated
Net Income shall be calculated after giving pro forma effect to such Material
Acquisition or Material Disposition as if such Material Acquisition or Material
Disposition had occurred on the first day of the period consisting of the four
consecutive fiscal quarters of the Borrower ending on the last day of the most
recently ending fiscal quarter for which financial statements are available and
otherwise in accordance with Regulation S-X of the SEC. “Consolidated Net
Income” shall include, without duplication, cash dividends and other cash
distributions received during such period by the Borrower or any Restricted
Subsidiary from an Unrestricted Subsidiary to the extent set forth in
Section 1.05(b).

“EBITDA” means, for any period, an amount determined for the Borrower and the
Restricted Subsidiaries determined on a consolidated basis in accordance with
Section 1.05 equal to (a) the sum of (i) Consolidated Net Income for such
period, plus, (ii) without duplication and to the extent deducted from
Consolidated Net Income in such period, (A) interest, income taxes,
depreciation, depletion, amortization, goodwill and other impairment, non-cash
compensation on long-term incentive plans, non-cash losses including non-cash
losses resulting from mark to market accounting of Swap Agreements,
(B) reasonable and customary fees and expenses incurred or paid in connection
with the consummation of the Transactions, the EP Acquisition and other
acquisition transactions not prohibited by the terms of this Agreement or the
other Loan Documents, and (C) any net loss from disposed or discontinued
operations, minus (b) to the extent included in Consolidated Net Income,
non-cash gains including non-cash gains resulting from mark to market accounting
of Swap Agreements; provided that the Partnership Oil and Gas Margin for any
period shall not exceed 15% of the Consolidated Gross Margin for such period
(and, if applicable, EBITDA shall be reduced by deducting any portions of
Consolidated Net Income that are attributable to Partnership Oil and Gas Margin
in excess of such percentage).

“Loan Documents” means this Agreement, the First Amendment, the Second
Amendment, the Third Amendment, the Notes, if any, the Letter of Credit
Agreements, the Letters of Credit, the Security Instruments, the Intercreditor
Agreement, and any and all other material agreements or instruments now or
hereafter executed and delivered by any Loan Party or any other Person (other
than Swap Agreements or agreements regarding the provision of Bank Products with
the Lenders or any Affiliate of a Lender or participation or similar

 

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agreements between any Lender and any other lender or creditor with respect to
any Indebtedness pursuant to this Agreement) in connection with the
Indebtedness, this Agreement and the transactions contemplated hereby, as such
agreements may be amended, modified, supplemented or restated from time to time.

“Total Funded Debt” means, at any date, all Debt of the Borrower and the
Restricted Subsidiaries determined on a consolidated basis in accordance with
Section 1.05 other than (a) contingent obligations in respect of Debt described
in clause (b) of the definition of “Debt”, and (b) Debt described in clauses
(c), (j), (k), and (m) of the definition of “Debt”. For the avoidance of doubt,
“Total Funded Debt” shall not include “asset retirement obligations” as such
term is used in ASC Topic 410 to the extent such term relates to the plugging
and abandonment of wells.

2.3 Amendment to Accounting Terms Provision. Section 1.05(b) of the Credit
Agreement is hereby amended and restated in its entirety to read in full as
follows:

(b) Notwithstanding GAAP or anything in this Agreement to the contrary, for the
purposes of calculating the ratios that are the subject of Section 9.01 hereof
and the components of each of them, (i) all Unrestricted Subsidiaries (including
the assets, liabilities, income, losses, cash flows and elements thereof) shall
be excluded, except that any cash dividends or distributions paid by any
Unrestricted Subsidiary to the Borrower or any Restricted Subsidiary shall be
deemed to be income to the Borrower or such Restricted Subsidiary, as
applicable, when received by it whether or not constituting income in accordance
with GAAP, (ii) all current assets, current liabilities and other components of
the ratio that is the subject of Section 9.01(b) of Designated Partnerships and
Undesignated Partnerships shall be excluded, (iii) all Debt that would
constitute Total Funded Debt of the Designated Partnerships and Undesignated
Partnerships in excess of $5,000,000 in the aggregate for all Designated
Partnerships and Undesignated Partnerships shall be included (provided that the
total amount of such Debt for each such Designated Partnership and Undesignated
Partnership shall be proportionately reduced by a percentage of such Debt equal
to the percentage of the outstanding Equity Interests in such Designated
Partnership or Undesignated Partnership owned by any Person other than the
Borrower or any Restricted Subsidiary) and (iv) all income, expenses, gains and
losses of the Designated Partnerships and Undesignated Partnerships shall be
included subject to the proviso at the end of the definition of “EBITDA”
contained in Section 1.02.

2.4 Amendment to Compliance Certificate Provision. Clause (ii) of
Section 8.01(c) of the Credit Agreement is hereby amended and restated in its
entirety to read in full as follows:

(ii) setting forth reasonably detailed calculations demonstrating compliance
with Section 9.01 (including, without limitation, calculations of G&A Expenses,
Consolidated Gross Margin and Partnership Oil and Gas Margin).

 

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2.5 New Swap Agreements Affirmative Covenant. Section 8.19 of the Credit
Agreement is hereby amended and restated in its entirety to read in full as
follows:

Section 8.19 Swap Agreements for Merit Production. On or before the fifteenth
(15th) day following the Third Amendment Effective Date, the Borrower shall, or
shall cause ARP Rangely Production, LLC or another Loan Party to, enter into
incremental Swap Agreements reasonably satisfactory to the Administrative Agent
with respect to production from the Merit Assets to hedge notional volumes
(combined with notional volumes hedged by the Borrower or the other Loan Parties
following the execution of the Merit Acquisition Agreement but prior to the
Third Amendment Effective Date) not less than the percentages set forth in the
table below, in each case of the reasonably anticipated projected crude oil
production from proved, developed and producing Oil and Gas Properties
comprising the Merit Assets:

 

Time Period (relative to

Third Amendment

Effective Date)

 

Minimum Percentage

to be Hedged

Months 1-12

  50%

Months 13-24

  25%

2.6 Amendment to Section 9.01 of the Credit Agreement. Section 9.01 of the
Credit Agreement is hereby amended and restated in its entirety to read in full
as follows:

(a) Ratio of Total Funded Debt to EBITDA. The Borrower will not permit, as of
the last day of any Rolling Period ending on or after the Effective Date, the
ratio of Total Funded Debt as of such day to EBITDA for the Rolling Period
ending on such day to be greater than (i) as of the last day of the Rolling
Periods ending on June 30, 2014, September 30, 2014 and December 31, 2014, 4.50
to 1.0, (ii) as of the last day of the Rolling Period ending on March 31, 2015,
4.25 to 1.0, and (iii) as of the last day of each Rolling Period ending
thereafter, 4.00 to 1.0.

(b) Current Ratio. The Borrower will not permit, as of the last day of any
fiscal quarter, the ratio of (i) current assets of the Borrower and the
Restricted Subsidiaries determined in accordance with Section 1.05 (including
the unused amount of the total Commitments of Lenders that are not Affiliate
Lenders (but only to the extent that no Event of Default then exists), and
excluding non-cash assets under ASC Topic 815) to (ii) current liabilities of
the Borrower and the Restricted Subsidiaries determined in accordance with
Section 1.05 (excluding non-cash obligations under ASC Topic 815, current
maturities of Loans and other long-term Debt and those portions of advance
payments received by the Borrower or any of the Restricted Subsidiaries for
drilling and completion of oil and gas wells that exceed the cost to the
Borrower or any Restricted Subsidiary and are classified as current liabilities)
to be less than 1.0 to 1.0.

 

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2.7 Amendment to Material Contracts Covenant. Section 9.21 of the Credit
Agreement is hereby amended and restated in its entirety to read in full as
follows:

9.21 Acquisition Documents. The Borrower will not, nor will the Borrower permit
any Restricted Subsidiary to, directly or indirectly, amend or otherwise modify
any EP Acquisition Document, the Barnett Acquisition Agreement, the Titan Merger
Agreement, the DTE Acquisition Agreement, or any Merit Acquisition Document
which in any case (a) violates the terms of this Agreement or any other Loan
Document, (b) could reasonably be expected to be materially adverse to the
rights, interests or privileges of the Administrative Agent or the Lenders or
their ability to enforce the Loan Documents or (c) could reasonably be expected
to have a Material Adverse Effect.

2.8 Replacement of Annex I. Annex I to the Credit Agreement is hereby replaced
in its entirety with Annex I attached hereto and Annex I attached hereto shall
be deemed to be attached as Annex I to the Credit Agreement. After giving effect
to this Third Amendment and any Borrowings made on the Third Amendment Effective
Date, (a) each Lender who holds Loans in an aggregate amount less than its
Applicable Percentage (after giving effect to this Third Amendment) of all Loans
shall advance new Loans which shall be disbursed to the Administrative Agent and
used to repay Loans outstanding to each Lender who holds Loans in an aggregate
amount greater than its Applicable Percentage of all Loans, (b) each Lender’s
participation in each Letter of Credit, if any, shall be automatically adjusted
to equal its Applicable Percentage (after giving effect to this Third
Amendment), (c) such other adjustments shall be made as the Administrative Agent
shall specify so that the Credit Exposure applicable to each Lender equals its
Applicable Percentage (after giving effect to this Third Amendment) of the
aggregate Credit Exposure of all Lenders and (d) the Borrower shall be required
to make any break-funding payments required under Section 5.02 of the Credit
Agreement resulting from the Loans and adjustments described in this Section 2.8

Section 3. Borrowing Base Increase. In reliance on the representations,
warranties, covenants and agreements contained in this Third Amendment, and
subject to the satisfaction of the conditions precedent set forth in Section 4
hereof, the Borrowing Base shall be increased, effective as of the Third
Amendment Effective Date, to be $825,000,000, and shall remain at $825,000,000
until the next Scheduled Redetermination, Interim Redetermination or other
redetermination of the Borrowing Base thereafter, whichever occurs first
pursuant to the Credit Agreement as amended hereby. The Loan Parties, the
Administrative Agent and the Lenders agree that the redetermination of the
Borrowing Base provided for in this Section 3 shall be considered and deemed to
be the Scheduled Redetermination scheduled for on or about May 1, 2014.

 

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Section 4. Conditions Precedent. The effectiveness of the amendments contained
in Section 2 hereof and the increase in the Borrowing Base contained in
Section 3 hereof is subject to the following:

4.1 The Administrative Agent shall have received duly executed counterparts of
this Third Amendment from the Loan Parties and each of the Lenders.

4.2 The Administrative Agent shall have received all fees and other amounts due
and payable on or prior to the Third Amendment Effective Date including, without
limitation, the Borrowing Base increase fee described in Section 4.3 below.

4.3 Contemporaneously with the effectiveness of the increase of the Borrowing
Base contained in Section 3 hereof, the Borrower shall pay to the Administrative
Agent, a Borrowing Base increase fee for the benefit of each Increasing Lender
(as defined below) in an amount equal to 0.40% of such Increasing Lender’s
Increased Commitment (as defined below). As used herein, “Increasing Lender”
means each Lender whose Commitment after giving effect to Section 3 hereof
exceeds such Lender’s Commitment that was in effect on May 7, 2014, and
“Increased Commitment” means the amount of such excess.

4.4 The Administrative Agent shall have received (a) a Security Agreement
Supplement executed by Atlas Energy Holdings Operating Company, LLC, (b) a
Joinder Agreement executed by ARP Rangely and (c) such other certificates,
Organizational Documents, financing statements, good standing certificates,
insurance certificates, agreements and authorizing resolutions, in each case in
form and substance reasonably satisfactory to the Administrative Agent, as the
Administrative Agent may request in order for ARP Rangely to become a Guarantor
under the Loan Documents and for the Equity Interests in ARP Rangely to become
pledged to secure the Indebtedness.

4.5 The Administrative Agent shall have received from each party thereto duly
executed counterparts (in such number as may be requested by the Administrative
Agent) of Mortgages granting the Administrative Agent a Lien over Merit Assets
with an aggregate value not less than 60% of the aggregate value of all Merit
Assets evaluated by the Lenders for purposes of establishing the Borrowing Base
pursuant to Section 3 hereof.

4.6 The Administrative Agent shall have received an opinion in form and
substance reasonably acceptable to the Administrative Agent of (a) Ledgewood, as
special counsel to the Loan Parties, and (b) Steptoe & Johnson LLP, as local
counsel in the State of Colorado.

4.7 The Administrative Agent shall have received evidence satisfactory to it
that all Liens on the Merit Assets (other than Liens permitted by Section 9.03
of the Credit Agreement) associated with any credit facilities and funded debt
have been released or terminated, subject only to the filing of applicable
terminations and releases.

4.8 The Administrative Agent shall have received a certificate of a Responsible
Officer of the Borrower certifying: (a) true, accurate and complete copies of
certain of the Merit Acquisition Documents and all amendments thereto, which
documents shall contain terms and conditions reasonably acceptable to the
Administrative Agent; (b) that, concurrently with the Borrowing under the Credit
Agreement on the Third Amendment Effective Date, ARP Rangely

 

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is consummating the Merit Acquisition, in accordance with the terms of the Merit
Acquisition Documents without waiver or amendment of any term or condition
thereof which would be materially adverse to the interests of the Loan Parties
or the Lenders (provided that, for the avoidance of doubt, any of the following
shall be deemed to be materially adverse to the interests of the Lenders:
(i) any change in the purchase price not contemplated by the Merit Acquisition
Agreement (other than (x) decreases in the purchase price of 10% or less and
(y) increases in the purchase price funded solely with equity issued by or
contributed to the Borrower; provided that any preferred equity shall be in a
form reasonably acceptable to the Administrative Agent), (ii) any direct or
indirect amendment, modification or waiver of or, failure by ARP Rangely to
exercise its rights under, subclauses (c), (e) and (f) of Section 8.2 of the
Merit Acquisition Agreement (including any modification or waiver of the defined
terms used in such Section), and (iii) any amendment (or any exercise by ARP
Rangely of any right to exclude any of the Merit Assets from the Merit
Acquisition) that results in less than 98% of the value (as determined by the
Administrative Agent) of all of the Merit Assets being acquired by ARP Rangely);
(c) as to the final purchase price for the Merit Assets after giving effect to
all adjustments as of the Third Amendment Effective Date contemplated by the
Merit Acquisition Agreement; and (d) such other related documents and
information as the Administrative Agent shall have reasonably requested.

4.9 The conditions set forth in Section 6.02 of the Credit Agreement shall be
satisfied; provided that, the only representations and warranties related to the
Borrower, ARP Rangely or the Merit Assets the accuracy of which shall be a
condition to the effectiveness of this Third Amendment shall be (a) the
representations made by the Sellers with respect to the Merit Assets in the
Merit Acquisition Agreement that are material to the interests of the Lenders,
but only to the extent that ARP Rangely has the right to terminate its
obligations under the Merit Acquisition Agreement (or the right not to
consummate the Merit Acquisition pursuant to the Merit Acquisition Agreement) as
a result of the breach of such representation in the Merit Acquisition Agreement
and (b) the Specified Representations (as defined below). For purposes hereof,
“Specified Representations” means, collectively, the representations and
warranties of the Borrower set forth in the following sections of the Credit
Agreement: Section 7.01, Section 7.02, Section 7.03, Section 7.08, Section 7.09,
Section 7.22, Section 7.23 and Section 7.24.

4.10 The Administrative Agent shall have received, in form and substance
satisfactory to the Administrative Agent, forecasted pro forma (after giving
effect to the Merit Acquisition) financial projections of the Borrower and its
consolidated Subsidiaries (a) on an annual basis, through December 31, 2018 and
(b) on a quarterly basis, through December 31, 2014.

4.11 The Administrative Agent shall have received duly executed Notes payable to
each Lender requesting a Note in a principal amount equal to its Maximum Credit
Amount (as amended hereby) dated as of the date hereof.

4.12 The Administrative Agent shall have received such other documents as the
Administrative Agent or counsel to the Administrative Agent may reasonably
request.

 

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Section 5. Miscellaneous.

5.1 Confirmation and Effect. The provisions of the Credit Agreement (as amended
by this Third Amendment) shall remain in full force and effect in accordance
with its terms following the effectiveness of this Third Amendment, and this
Third 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.

5.2 Ratification and Affirmation of Loan Parties. Each of the Loan Parties
hereby expressly (i) acknowledges the terms of this Third Amendment,
(ii) ratifies and affirms its obligations under the Guaranty Agreement and the
other Loan Documents to which it is a party, (iii) acknowledges, renews and
extends its continued liability under the Guaranty Agreement and the other Loan
Documents to which it is a party, (iv) 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,
(v) represents and warrants to the Lenders and the Administrative Agent that
each representation and warranty of such Loan Party contained in the Credit
Agreement and the other Loan Documents to which it is a party is true and
correct as of the date hereof and after giving effect to the amendments set
forth in Section 2 hereof (other than representations and warranties that were
made as of a specific date, in which case such representations and warranties
were true and correct when made), (vi) represents and warrants to the Lenders
and the Administrative Agent that the execution, delivery and performance by
such Loan Party of this Third Amendment are within such Loan Party’s corporate,
limited partnership or limited liability company powers (as applicable), have
been duly authorized by all necessary action and that this Third Amendment
constitutes the valid and binding obligation of such Loan 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 (vii) represents and warrants to the Lenders and the Administrative Agent
that immediately before and after giving effect to this Third Amendment, no
Default, Event of Default or Borrowing Base Deficiency exists.

5.3 Counterparts. This Third 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 Third 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 THIRD 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.

 

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5.5 Governing Law. THIS THIRD 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 out-of-pocket costs and expenses incurred in
connection with this Third 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.

5.7 Severability. Any provision of this Third 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 Third Amendment shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and
assigns.

5.9 Exiting Lender. Barclays Bank PLC (the “Exiting Lender”) hereby (a) consents
to this Third Amendment as required under Section 12.02 of the Credit Agreement
and (b) acknowledges and agrees to Section 2.8 of this Third Amendment. Each of
the parties hereto hereby agrees and confirms that after giving effect to
Section 2.8 of this Third Amendment, the Exiting Lender’s Maximum Credit Amount
shall be $0, its Commitments to lend and all obligations under the Credit
Agreement shall be terminated, and the Exiting Lender shall cease to be a Lender
for all purposes under the Loan Documents.

[Signature pages follow]

 

12

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The parties hereto have caused this Third Amendment to be duly executed as of
the day and year first above written.

 

BORROWER:     ATLAS RESOURCE PARTNERS, L.P.     By:  

Atlas Resource Partners GP, LLC,

its general partner

      By:  

/s/ Sean McGrath

      Name:   Sean McGrath       Title:   Chief Financial Officer

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

13

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ATLAS ENERGY HOLDINGS OPERATING COMPANY, LLC, a Delaware limited liability
company ATLAS ENERGY COLORADO, LLC, a Colorado limited liability company ATLAS
ENERGY INDIANA, LLC, an Indiana limited liability company ATLAS ENERGY OHIO,
LLC, an Ohio limited liability company ATLAS ENERGY TENNESSEE, LLC, a
Pennsylvania limited liability company ATLAS NOBLE, LLC, a Delaware limited
liability company ATLAS RESOURCES, LLC, a Pennsylvania limited liability company
REI-NY, LLC, a Delaware limited liability company RESOURCE ENERGY, LLC, a
Delaware limited liability company RESOURCE WELL SERVICES, LLC, a Delaware
limited liability company VIKING RESOURCES, LLC, a Pennsylvania limited
liability company ARP BARNETT, LLC, a Delaware limited liability company ARP
OKLAHOMA, LLC, an Oklahoma limited liability company ARP BARNETT PIPELINE, LLC,
a Delaware limited liability company ATLAS BARNETT, LLC, a Texas limited
liability company ARP PRODUCTION COMPANY, LLC, a Delaware limited liability
company ARP MOUNTAINEER PRODUCTION, LLC, a Delaware limited liability company
ARP RANGELY PRODUCTION, LLC, a Delaware limited liability company By:  

/s/ Sean McGrath

  Sean McGrath   Chief Financial Officer

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

14

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WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender, as Administrative Agent and
an Issuing Bank By:  

/s/ Edward Markham

  Edward Markham   Assistant Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

15

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CITIBANK, N.A., as a Lender and an

Issuing Bank

By:

 

/s/ John Miller

Name:

 

John Miller

Title:

 

Vice-President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

16

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JPMORGAN CHASE BANK, N.A., as a Lender and an Issuing Bank By:  

/s/ Jo Linda Papadakis

Name:  

Jo Linda Papadakis

Title:  

Authorized Officer

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

17

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BANK OF AMERICA, N.A., as a Lender By:  

/s/ Kenneth Phelan

Name:  

Kenneth Phelan

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

18

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NATIXIS, as a Lender By:  

/s/ Andrew Keene

Name:  

Andrew Keene

Title:  

Vice President

By:  

/s/ Stuart Murray

Name:  

Stuart Murray

Title:  

Managing Director

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

19

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SANTANDER BANK, N.A., formerly known as Sovereign Bank, N.A., as a Lender By:  

/s/ Aidan Lanigan

Name:  

Aidan Lanigan

Title:  

Senior Vice President

By:  

/s/ Puiki Lok

Name:  

Puiki Lok

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

20

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CAPITAL ONE, NATIONAL

ASSOCIATION, as a Lender

By:  

/s/ Mack Lambert

Name:  

Mack Lambert

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

21

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DEUTSCHE BANK AG NEW YORK

BRANCH, as a Lender

By:  

/s/ Michael Getz

Name:  

Michael Getz

Title:  

Vice President

By:  

/s/ Michael Shannon

Name:  

Michael Shannon

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

22

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COMERICA BANK, as a Lender By:  

/s/ John S. Lesikar

Name:  

John S. Lesikar

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

23

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ABN AMRO CAPITAL USA LLC, as a Lender By:  

/s/ Darrell Holley

Name:  

Darrell Holley

Title:  

Managing Director

By:  

/s/ Elizabeth Johnson

Name:  

Elizabeth Johnson

Title:  

Director

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

24

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SUNTRUST BANK, as a Lender By:  

/s/ Shannon Juhan

Name:  

Shannon Juhan

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

25

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ROYAL BANK OF CANADA, as a Lender By:  

/s/ Evans Swann, Jr.

Name:  

Evans Swann, Jr.

Title:  

Authorized Signatory

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

26

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COMPASS BANK, as a Lender By:  

/s/ Umar Hassan

Name:  

Umar Hassan

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

27

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CADENCE BANK, N.A., as a Lender By:  

/s/ Steven Taylor

Name:  

Steven Taylor

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

28

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CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH,
as a Lender By:  

/s/ Daria Mahoney

Name:  

Daria Mahoney

Title:  

Authorized Signatory

By:  

/s/ William M. Reid

Name:  

William M. Reid

Title:  

Authorized Signatory

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

29

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ING CAPITAL LLC, as a Lender By:  

/s/ Josh Strong

Name:  

Josh Strong

Title:  

Director

By:  

/s/ Charles Hall

Name:  

Charles Hall

Title:  

Managing Director

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

30

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THE HUNTINGTON BANK, as a Lender By:  

/s/ Stephen Hoffman

Name:  

Stephen Hoffman

Title:  

Managing Director

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

31

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BRANCH BANKING AND TRUST COMPANY, as a Lender By:  

/s/ James Giordano

Name:  

James Giordano

Title:  

Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

32

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THE BANK OF NOVA SCOTIA, as a Lender By:  

/s/ Jay Salitza

Name:  

Jay Salitza

Title:  

Director

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

33

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WHITNEY BANK, as a Lender By:  

/s/ David E. Sisler

Name:  

David E. Sisler

Title:  

Senior Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

34

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PNC BANK, NATIONAL ASSOCIATION, as a Lender By:  

/s/ Tom Byargeon

Name:  

Tom Byargeon

Title:  

Managing Director

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

35

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ONEWEST BANK, N.A., as a Lender By:  

/s/ Sean Murphy

Name:  

Sean Murphy

Title:  

Executive Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

36

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The undersigned is executing this Third Amendment as of the date and year first
written above for the sole purpose of Section 5.9 thereof.

 

BARCLAYS BANK PLC, as Exiting Lender By:  

/s/ May Huang

Name:  

May Huang

Title:  

Assistant Vice President

SIGNATURE PAGE TO THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

ATLAS RESOURCE PARTNERS, L.P.

 

37

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ANNEX I

LIST OF MAXIMUM CREDIT AMOUNTS

 

Name of Lender    Applicable
Percentage     Maximum Credit
Amount  

Wells Fargo Bank, National Association

     12.12121212 %    $ 181,818,181.82   

Deutsche Bank AG New York Branch

     6.66666667 %    $ 100,000,000.00   

Citibank, N.A.

     6.66666667 %    $ 100,000,000.00   

Bank of America, N.A.

     6.66666667 %    $ 100,000,000.00   

JPMorgan Chase Bank, N.A.

     6.66666667 %    $ 100,000,000.00   

Comerica Bank

     4.66666667 %    $ 70,000,000.00   

ABN AMRO Capital USA LLC

     4.66666667 %    $ 70,000,000.00   

Natixis

     4.66666667 %    $ 70,000,000.00   

SunTrust Bank

     4.66666667 %    $ 70,000,000.00   

Royal Bank of Canada

     4.66666667 %    $ 70,000,000.00   

Compass Bank

     4.66666667 %    $ 70,000,000.00   

Canadian Imperial Bank of Commerce, New York Agency

     4.66666667 %    $ 70,000,000.00   

ING Capital LLC

     4.66666667 %    $ 70,000,000.00   

Santander Bank, N.A.

     3.51515152 %    $ 52,727,272.73   

Cadence Bank, N.A.

     2.66666667 %    $ 40,000,000.00   

Huntington Bank

     2.66666667 %    $ 40,000,000.00   

Capital One, National Association

     2.66666667 %    $ 40,000,000.00   

Branch Banking and Trust Company

     2.66666667 %    $ 40,000,000.00   

The Bank of Nova Scotia

     2.66666667 %    $ 40,000,000.00   

Whitney Bank

     2.66666667 %    $ 40,000,000.00   

 

Annex I-1

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Name of Lender    Applicable
Percentage     Maximum Credit
Amount  

PNC Bank, National Association

     2.18181818 %    $ 32,727,272.73   

OneWest Bank, N.A.

     2.18181818 %    $ 32,727,272.73   

Total

     100 %    $ 1,500,000,000.00   

 

Annex I-2