Exhibit 10.21

Execution Version

December 21, 2018

Amplify Energy Operating LLC

500 Dallas Street, Suite 1700

Houston, Texas 77002

Attention: Martyn Willsher

Ladies and Gentlemen:

Reference is made to that certain Credit Agreement dated as of November 2, 2018
(as amended, restated, modified or supplemented from time to time prior to the
date hereof, the “Credit Agreement”) among Amplify Energy Operating LLC, a
Delaware limited liability company (the “Borrower”), Amplify Acqusitionco Inc.,
a Delaware corporation (the “Parent”), the financial institutions from time to
time party thereto (the “Lenders”), and Bank of Montreal as administrative agent
(the “Administrative Agent”) for the Lenders, and as L/C Issuer. Capitalized
terms used herein and not otherwise defined herein have the meaning ascribed
thereto in the Credit Agreement.

The Borrower has delivered satisfactory evidence to the Administrative Agent
demonstrating its compliance with the minimum hedging requirements set forth in
Section 6.19(a) of the Credit Agreement. Due to the current market prices for
Hydrocarbons, however, the Borrower has requested that the Administrative Agent
and the Lenders consent to an extension of the date by which the Borrower must
show compliance with its December 31, 2018 hedging requirements in Section
6.19(b) of the Credit Agreement.

Further, the Borrower has commenced the process of establishing its Deposit
Accounts with BMO Harris Bank N.A., an affiliate of the Administrative Agent,
and in connection with such process has requested that with respect to the
Deposit Accounts listed on Schedule A attached hereto (the “Wells Fargo
Accounts”), the Administrative Agent and the Lenders waive the requirement under
Section 6.18(a) of the Credit Agreement requiring that the Borrower deliver to
the Administrative Agent within 60 days after the Closing Date, a Control
Agreement with respect to each Deposit Account held or maintained by any Loan
Party on the Closing Date.

By this Letter Agreement, the Administrative Agent and the Lenders party hereto,
and for the avoidance of doubt, the Borrower hereby acknowledges and agrees that
(i) the date by which the Borrower must deliver satisfactory evidence to the
Administrative Agent pursuant to Section 6.l 9(b) of the Credit Agreement
confirming that it has entered into Hedge Transactions for the period from (a)
December 31, 2018 to December 31, 2019 covering at least fifty percent (50%) of
the reasonably anticipated projected production of natural gas and crude oil
from Oil and Gas Properties comprising Proved Developed Producing Reserves of
the Loan Parties for each month in the immediately following twelve calendar
months, be extended from December 31, 2018 to February 28, 2019 and (b) December
31, 2019 to December 31, 2020 covering at least twenty­five percent (25%) of the
reasonably anticipated projected production of natural gas and crude oil from
Oil and Gas Properties comprising Proved Developed Producing Reserves of the
Loan Parties for each month in the immediately following twelve calendar months,
be extended from December 31, 2018 to February 28, 2019, and (ii) the Borrower
shall not be required to deliver Control Agreements for the Wells Fargo Accounts
so long as on or before (a) January 31, 2019, the Borrower shall have delivered
to the Administrative Agent a Control Agreement for each Deposit Account that is
maintained by any Loan Party with BMO Harris Bank, N.A., and (b) February 28,
2019, the Borrower shall have delivered to the Administrative Agent evidence
demonstrating that the each of the Wells Fargo Accounts shall have been closed.

730808020 18599474

 

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This Letter Agreement constitutes an agreement of the Credit Agreement with
respect to the specific matters set forth above, and the provisions of this
Letter Agreement shall be strictly limited as set forth above. Except to the
extent (but only to such extent) of any modification or waiver to the Credit
Agreement provided above, the Borrower hereby further ratifies, approves and
confirms all of the Obligations under the Credit Agreement and the other Loan
Documents. The Borrower represents and warrants that after giving effect to this
Letter Agreement, no Default or Event of Default has occurred and is continuing.

This Letter Agreement shall become effective upon receipt by the Administrative
Agent of duly executed counterparts of this Letter Agreement from the Borrower,
the Administrative Agent and Lenders comprising at least the Majority Lenders.

This Letter Agreement may be executed by the parties hereto in several
counterparts, each of which shall be deemed to be an original and all of which
shall constitute together but one and the same agreement. A facsimile signature
or electronic signature (e.g. pdf), of any party hereto shall be deemed to be an
original signature for the purposes of this Letter Agreement.

This Letter Agreement shall be governed by, and construed in accordance with,
the law of the State of New York.

730808020 18599474

 

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Please confirm that the foregoing is our mutual understanding by signing and
returning to us an executed counterpart of this letter agreement.

 

Very truly yours,

 

 

 

BANK OF MONTREAL, as Administrative Agent

 

 

 

By:

 

/s/ James V. Ducote

Name:

 

James V. Ducote

Title:

 

Managing Director

 

Accepted and agreed to as of

the date first above written:

 

 

 

AMPLIFY ENERGY OPERATING  LLC, as Borrower

 

 

 

By:

 

/s/ Martyn Willsher

Name:

 

Martyn Willsher

Title:

 

Senior Vice President and Chief Financial  Officer

 

AMPLIFY ACQUISITIONCO, INC., as Parent

 

 

 

By:

 

/s/ Martyn Willsher

Name:

 

Martyn Willsher

Title:

 

Senior Vice President and Chief Financial  Officer

 

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BANK OF MONTREAL, as Lender

 

 

 

By:

 

/s/ James V. Ducote

Name:

 

James V. Ducote

Title:

 

Managing Director

 

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Bank of America, N.A.,

as a Lender

 

 

 

By:

 

/s/ Raza Jafferi

Name:

 

Raza Jafferi

Title:

 

Director

 

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Citibank, N.A.

as a Lender

 

 

 

By:

 

/s/ Cliff Vaz

Name:

 

Cliff Vaz

Title:

 

Vice President

 

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Regions Bank

as a Lender

 

 

 

By:

 

/s/ Daniel G. Steele

Name:

 

Daniel G. Steele

Title:

 

Managing Director

 

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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

 

730808020 18599474

 

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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/ Megan Larson

Name:

 

Megan Larson

Title:

 

Authorized Signatory

 

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KeyBank, National Association

as a Lender

 

 

 

By:

 

/s/ George E. McKean

Name:

 

George E. McKean

Title:

 

Senior Vice President

 

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Hancock Whitney Bank

as a Lender

 

 

 

By:

 

/s/ Parker U. Mears

Name:

 

Parker U. Mears

Title:

 

Senior Vice President

 

730808020 18599474

 

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UBS AG, STAMFORD BRANCH

as a Lender

 

 

 

By:

 

/s/ Craig Pearson

Name:

 

Craig Pearson

Title:

 

Associate Director

 

 

 

By:

 

/s/ Houssem Daly

Name:

 

Houssem Daly

Title:

 

Associate Director

 

730808020 18599474

 

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GOLDMAN SACHS BANK USA,

as a Lender

 

 

 

By:

 

/s/ David K. Gaskell

Name:

 

David K. Gaskell

Title:

 

Authorized Signer

 

730808020 18599474

 

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Schedule A

 

Name of Grantor

Name of lnstitution

Account Number

Description of Account

Amplify Energy Operating

LLC

Wells Fargo

4122193030

Main  Operating Account

Amplify Energy Operating

LLC

Wells Fargo

9600152164

AP Account

Amplify Energy Operating

LLC

Wells Fargo

9600152179

Royalty  Account

San Pedro Bay Pipeline

Company

Wells Fargo

4124924044

Main  Operating Account

San Pedro Bay Pipeline

Company

Wells Fargo

9624000767

AP Account

Beta Operating Company,

LLC

Wells Fargo

4122011869

Main Operating Account

Beta Operating Company,

LLC

Wells Fargo

9624000759

AP Account

Amplify Energy Services

LLC

Wells Fargo

4493290902

Main Operating Account

Amplify Energy Services

LLC

Wells Fargo

4493290910

Payroll Account

Amplify Energy Services

LLC

Wells Fargo

9657481926

AP Account

 

730808020 18599474