Exhibit 10.1

EXECUTION

 

 

 

NINTH AMENDMENT TO SECOND AMENDED

AND RESTATED CREDIT AGREEMENT

This NINTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this
“Ninth Amendment”), dated as of July 1, 2017, is entered into by and among
SANCHEZ ENERGY CORPORATION, a Delaware corporation (“Borrower”), each of SN
PALMETTO, LLC, a Delaware limited liability company f/k/a SEP Holdings III, LLC
(“SN Palmetto”), SN MARQUIS LLC, a Delaware limited liability company (“SN
Marquis”), SN COTULLA ASSETS, LLC, a Texas limited liability company (“SN
Cotulla”), SN OPERATING, LLC, a Texas limited liability company (“SN
Operating”), SN TMS, LLC, a Delaware limited liability company (“SN TMS”), SN
CATARINA, LLC, a Delaware limited liability company (“SN Catarina”), SN EF
MAVERICK, LLC, a Delaware limited liability company (“SN Maverick”), and ROCKIN
L RANCH COMPANY, LLC, a Delaware limited liability company (“RLRC”; together
with SN Palmetto, SN Marquis, SN Cotulla, SN Operating, SN TMS, SN Catarina and
SN Maverick collectively, the “Guarantors” and each, a “Guarantor”), the
Required Lenders party hereto, and ROYAL BANK OF CANADA, as Administrative Agent
for the Lenders (in such capacity, together with its successors in such
capacity, the “Administrative Agent”).

RECITALS

A.    The Borrower, the Guarantors, the Lenders, RBC, as Issuing Bank, and the
Administrative Agent previously entered into that certain Second Amended and
Restated Credit Agreement dated as of June 30, 2014 (as amended by that certain
First Amendment to Second Amended and Restated Credit Agreement dated as of
September 9, 2014, that certain Second Amendment to Second Amended and Restated
Credit Agreement dated as of March 31, 2015, that certain Third Amendment to
Second Amended and Restated Credit Agreement dated as of July 20, 2015, that
certain Fourth Amendment to Second Amended and Restated Credit Agreement dated
as of September 29, 2015, that certain Fifth Amendment to Second Amended and
Restated Credit Agreement dated as of October 30, 2015, that certain Sixth
Amendment to Second Amended and Restated Credit Agreement dated as of January
22, 2016, that certain Seventh Amendment to Second Amended and Restated Credit
Agreement dated as of March 18, 2016, and that certain Eighth Amendment to
Second Amended and Restated Credit Agreement dated as of April 18, 2017, the
“Credit Agreement”) and certain other Loan Documents (as defined in the Credit
Agreement) in connection therewith.

B.    The Borrower has requested that the Administrative Agent and the Lenders
amend the Credit Agreement as set forth herein to make certain amendments as set
forth herein. The Administrative Agent and Lenders constituting Required Lenders
are willing to amend the Credit Agreement on the terms and conditions contained
in this Ninth Amendment.

 

AGREEMENT

217569 000160 19460200.8

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NOW, THEREFORE, in consideration of the foregoing and the mutual covenants set
forth in this Ninth Amendment and other good and valuable consideration, the
receipt and sufficiency of which are acknowledged by the parties hereto, the
Borrower, the Guarantors, the Required Lenders, the Issuing Bank and the
Administrative Agent agree as follows:

1.    Defined Terms. Unless otherwise defined herein, capitalized terms used
herein have the meanings assigned to them in the Credit Agreement.

2.    Specific Amendments to Credit Agreement. The Credit Agreement is hereby
amended as follows:

(i)    The following defined terms are hereby added to Section 1.02 of the
Credit Agreement in the proper alphabetical order:

“Ninth Amendment” means that certain Ninth Amendment to Second Amended and
Restated Credit Agreement dated as of the Ninth Amendment Effective Date by and
among the Borrower, the Guarantors, the Lenders party thereto, and the
Administrative Agent.

“Ninth Amendment Effective Date” means July 1, 2017.

(ii)    The defined term “Agreement” in Section 1.02 of the Credit Agreement is
hereby deleted and the following is substituted therefor:

“Agreement” means this Second Amended and Restated Credit Agreement, as amended
by the First Amendment, Second Amendment, Third Amendment, Fourth Amendment,
Fifth Amendment, Sixth Amendment, Seventh Amendment, Eighth Amendment, Ninth
Amendment and as the same may from time to time be amended, modified,
supplemented or restated.

(iii)    Clause (a) of the defined term “Issuance Related Debt” in Section 1.02
of the Credit Agreement is hereby deleted and the following is substituted
therefor:

“(a) Senior Unsecured Notes (other than (1) Senior Unsecured Notes described in
clauses (i), (ii) and (iii) of the definition of Senior Unsecured Notes, (2)
registered senior unsecured notes issued in exchange for any Senior Unsecured
Notes, (3) Senior Unsecured Notes comprised of principal representing payment of
interest in kind, and (4) Senior Unsecured Notes issued in exchange for or the
net proceeds of which are used to Redeem Senior Unsecured Notes) and”

(iv)    The defined term “Senior Unsecured Notes” in Section 1.02 of the Credit
Agreement is hereby deleted and the following is substituted therefor:

“Senior Unsecured Notes” means senior unsecured notes in an aggregate principal
amount not to exceed the Senior Unsecured Notes Maximum Issuance Amount issued
or to be issued by Borrower, and guaranteed by some or all of the other Loan
Parties, (a) in one or more Rule 144A or other private placement

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Second Amended and Restated Credit Agreement

 

 

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offerings including without limitation (i) the Borrower’s $600,000,000 principal
amount of 7.750% Senior Notes due 2021, (ii) the Borrower’s $1,150,000,000
principal amount of 6.125% Senior Notes due 2023, and (iii) senior unsecured
notes issued by the Borrower not later than September 30, 2017 in an aggregate
principal amount not to exceed $300,000,000 and having a maturity date on or
after June 30, 2020, and (b) registered senior unsecured notes issued in
exchange therefor.

(v)    As a consequence of U.S. Bank National Association’s assignment of 100%
of its Loans and Commitment to Macquarie Bank Limited pursuant to an Assignment
and Assumption effective as of May 23, 2017, a new Annex I to the Credit
Agreement, “List of Maximum Credit Amounts” in the form attached as Annex I to
this Ninth Amendment is hereby added to the Credit Agreement in lieu of the
existing Annex I.

(vi)    A new Exhibit E to the Credit Agreement, “Form of Assignment and
Assumption” in the form attached as Exhibit E to this Ninth Amendment is hereby
added to the Credit Agreement in lieu of the existing Exhibit E.

3.    Representations.  The Borrower represents and warrants that the
representations and warranties contained in the Credit Agreement and the
representations and warranties contained in the other Loan Documents are true
and correct in all material respects on and as of the date this Ninth Amendment
becomes effective pursuant to Section 6 as if made on and as of such date,
except to the extent that such representations and warranties specifically refer
to an earlier date, in which case they shall be true and correct in all material
respects as of such earlier date.

4.    Loan Parties’ Ratification. Subject to the conditions set out in Section
6, Borrower (and each other Loan Party by its execution in the space provided
below under “ACKNOWLEDGED for the purposes stated in Sections 4, 5 and 8”)
hereby ratifies all of its Obligations under the Credit Agreement and each of
the other Loan Documents to which it is a party (other than the Guaranty, which
is specifically addressed in Section 5), and agrees and acknowledges that the
Credit Agreement and each of the other Loan Documents to which it is a party
(other than the Guaranty, which is specifically addressed in Section 5) are and
shall continue to be in full force and effect. Nothing in this Ninth Amendment
extinguishes, novates or releases any right, claim, Lien or entitlement of any
of the Lenders, any Issuing Bank or the Administrative Agent created by or
contained in any of such documents nor is any Loan Party released from any
covenant, warranty or obligation created by or contained herein or
therein.  Each Loan Party (other than the Borrower) agrees that its execution
and delivery of this Ninth Amendment does not indicate or establish an approval
or consent requirement by any such Loan Party under the Credit Agreement in
connection with the execution and delivery of amendments to the Credit
Agreement, the Notes or any of the other Loan Documents (other than any Loan
Document to which such a Loan Party is a party).

5.    Guarantors’ Ratification. Each Guarantor by its execution in the space
provided below under “ACKNOWLEDGED for the purposes stated in Sections 4, 5 and
8” hereby ratifies, confirms, acknowledges and agrees that its obligations under
the Guaranty are in full force and effect and that such Guarantor continues to
unconditionally and irrevocably guarantee the full and punctual payment, when
due, whether at stated maturity or earlier by acceleration or otherwise, of

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Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

 

 

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the Obligations, and its execution and delivery of this Ninth Amendment does not
indicate or establish an approval or consent requirement by any Guarantor under
the Guaranty in connection with the execution and delivery of amendments to the
Credit Agreement, the Notes or any of the other Loan Documents (other than the
Guaranty or any other Loan Document to which a Guarantor is a party).

6.    Conditions to Effectiveness of Ninth Amendment. This Ninth Amendment shall
be effective upon the satisfaction, in the Administrative Agent’s sole
discretion, of the following conditions precedent:

(i)    The Administrative Agent shall have executed, and shall have received
from the Borrower and Required Lenders duly executed signature pages to, this
Ninth Amendment, and shall have received a duly executed acknowledgement of
Sections 4, 5 and 8 of this Ninth Amendment from each Guarantor; and

(ii)    the Administrative Agent shall have received such other documents as the
Administrative Agent or its counsel may reasonably request.

7.    No Implied Amendment, Waiver or Consent. This Ninth Amendment shall not
constitute an amendment or waiver of any provision not expressly referred to
herein and shall not be construed as a consent to any action on the part of the
Borrower that would require a waiver or consent of the Lenders or Required
Lenders, as applicable, or an amendment or modification to any term of the Loan
Documents except as expressly stated herein.

8.    Miscellaneous. This Ninth Amendment is a Loan Document. Except as affected
by this Ninth Amendment, the Loan Documents are unchanged and continue in full
force and effect. However, in the event of any inconsistency between the terms
of the Credit Agreement, as amended by this Ninth Amendment, and any other Loan
Document, the terms of the Credit Agreement as amended by this Ninth Amendment
will control and the other document will be deemed to be amended to conform to
the terms of the Credit Agreement as amended by this Ninth Amendment. All
references to the Credit Agreement will refer to the Credit Agreement as amended
by this Ninth Amendment and any other amendments properly executed among the
parties. Borrower and each Guarantor agrees that all Loan Documents to which it
is a party (whether as an original signatory or by assumption of the
Obligations) remain in full force and effect and continue to evidence its legal,
valid and binding obligations enforceable in accordance with their terms (as the
same are affected by this Ninth Amendment or are amended in connection with this
Ninth Amendment). AS A MATERIAL INDUCEMENT TO THE ADMINISTRATIVE AGENT, THE
ISSUING BANKS AND LENDERS PARTY HERETO TO ENTER INTO THIS NINTH AMENDMENT,
BORROWER AND EACH GUARANTOR RELEASES THE ADMINISTRATIVE AGENT, THE ISSUING
BANKS, THE LENDERS AND THEIR RESPECTIVE PREDECESSORS, SUCCESSORS, ASSIGNS,
DIRECTORS, OFFICERS, EMPLOYEES, TRUSTEES, AGENTS AND ATTORNEYS FROM ANY
LIABILITY FOR ACTIONS OR FAILURES TO ACT IN CONNECTION WITH THE LOAN DOCUMENTS
PRIOR TO THE NINTH AMENDMENT EFFECTIVE DATE. NO COURSE OF DEALING BETWEEN
BORROWER, ANY GUARANTOR OR ANY OTHER PERSON, ON THE ONE HAND, AND THE
ADMINISTRATIVE AGENT, ISSUING BANKS AND THE LENDERS, ON

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Second Amended and Restated Credit Agreement

 

 

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THE OTHER, WILL BE DEEMED TO HAVE ALTERED OR AMENDED THE CREDIT AGREEMENT OR
AFFECTED BORROWER’S, ANY GUARANTOR’S, THE ADMINISTRATIVE AGENT’S, THE ISSUING
BANKS’ OR THE LENDERS’ RIGHT TO ENFORCE THE CREDIT AGREEMENT as amended by this
Ninth Amendment AS WRITTEN. This Ninth Amendment will be binding upon and inure
to the benefit of each of the undersigned and their respective successors and
permitted assigns.

9.    Form. Each agreement, document, instrument or other writing to be
furnished to the Administrative Agent and/or the Lenders under any provision of
this instrument must be in form and substance reasonably satisfactory to the
Administrative Agent and its counsel.

10.    Headings. The headings and captions used in this Ninth Amendment are for
convenience only and will not be deemed to limit, amplify or modify the terms of
this Ninth Amendment, the Credit Agreement, or the other Loan Documents.

11.    Interpretation.  Wherever possible each provision of this Ninth Amendment
shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Ninth Amendment shall be prohibited
by or invalid under such law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Ninth Amendment.

12.    Multiple Counterparts. This Ninth Amendment may be separately executed in
any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to constitute one
and the same agreement. This Ninth Amendment may be transmitted and/or signed by
facsimile, telecopy or electronic mail. The effectiveness of any such documents
and signatures shall, subject to applicable law, have the same force and effect
as manually‑signed originals and shall be binding on all Loan Parties, all
Lenders, the Administrative Agent and the Issuing Banks. The Administrative
Agent may also require that any such documents and signatures be confirmed by a
manually‑signed original thereof; provided, however, that the failure to request
or deliver the same shall not limit the effectiveness of any facsimile document
or signature.

13.    Governing Law.  This NINTH AMENDMENT shall be governed by, and construed
in accordance with the laws of the State of NEW YORK without regard to any
choice-of-law provisions that would require the application of the law of
another jurisdiction.

[Signature Pages Follow]

 

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Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

 

 

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IN WITNESS WHEREOF, the parties hereto have caused this Ninth Amendment to be
executed by their respective officers thereunto duly authorized as of the date
first above written.

 

 

 

 

 

BORROWER:

 

 

 

SANCHEZ ENERGY CORPORATION,  
a Delaware corporation

 

 

 

By:

 

 

Name:

Antonio R. Sanchez, III

 

 

Chief Executive Officer

 

 

 

 

Signature Page 1

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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ACKNOWLEDGED for the purposes stated in Sections 4, 5 and 8:

 

 

 

GUARANTORS:

 

 

 

SN PALMETTO, LLC,
a Delaware limited liability company, f/k/a

SEP Holdings III, LLC

 

 

 

SN MARQUIS LLC,
a Delaware limited liability company

 

 

 

SN COTULLA ASSETS, LLC,
a Texas limited liability company

 

 

 

SN OPERATING, LLC,
a Texas limited liability company

 

 

 

SN TMS, LLC,
a Delaware limited liability company

 

 

 

SN CATARINA, LLC,
a Delaware limited liability company

 

 

 

SN EF MAVERICK, LLC,
a Delaware limited liability company

 

 

 

ROCKIN L RANCH COMPANY, LLC,
a Delaware limited liability company

 

 

 

 

 

By:

 

 

 

Antonio R. Sanchez, III

 

 

Chief Executive Officer

 

 

Signature Page 2

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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ADMINISTRATIVE AGENT:

 

 

 

ROYAL BANK OF CANADA, as Administrative Agent

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

Signature Page 3

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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LENDERS:

 

 

 

ISSUING BANK AND LENDER:

 

 

 

ROYAL BANK OF CANADA

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

Signature Page 4

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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CAPITAL ONE, NATIONAL ASSOCIATION

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

Signature Page 5

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

Signature Page 6

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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FIFTH THIRD BANK

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

Signature Page 7

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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COMPASS BANK

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

Signature Page 8

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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SUNTRUST BANK

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

Signature Page 9

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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ING CAPITAL LLC

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

Signature Page 10

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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BRANCH BANKING AND TRUST COMPANY

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

Signature Page 11

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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IBERIABANK

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

Signature Page 12

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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ABN AMRO CAPITAL USA LLC

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

Signature Page 13

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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SOCIÉTÉ GENÉRALÉ

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

 

Signature Page 14

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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BMO HARRIS BANK, N.A.

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

Signature Page 15

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

Signature Page 16

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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SUMITOMO MITSUI BANKING CORPORATION

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

Signature Page 17

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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MACQUARIE BANK LIMITED

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

Signature Page 18

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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COMERICA BANK

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

 

 

Signature Page 19

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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ANNEX I

LIST OF MAXIMUM CREDIT AMOUNTS

 

 

 

 

Name of Lender

Applicable Percentage

Elected Commitment

Maximum Credit Amount

Royal Bank of
Canada

10.196078%

$30,588,235.30

$152,941,176.45

Capital One, National
Association

10.196078%

$30,588,235.30

$152,941,176.45

Compass Bank

8.921569%

$26,764,705.88

$133,823,529.42

SunTrust Bank

8.921569%

$26,764,705.88

$133,823,529.42

Credit Suisse AG,
Cayman Islands
Branch

6.372549%

$19,117,647.06

$95,588,235.29

Branch Banking and
Trust Company

6.372549%

$19,117,647.06

$95,588,235.29

ING Capital LLC

6.372549%

$19,117,647.06

$95,588,235.29

ABN AMRO Capital
USA LLC

6.372549%

$19,117,647.06

$95,588,235.29

Sociètè Genèralè

6.372549%

$19,117,647.06

$95,588,235.29

IBERIABANK

6.372549%

$19,117,647.06

$95,588,235.29

BMO Harris
Bank, N.A.

4.705882%

$14,117,647.06

$70,588,235.30

Credit Agricole
Corporate and
Investment Bank

4.705882%

$14,117,647.06

$70,588,235.30

Sumitomo Mitsui
Banking Corporation

3.529412%

$10,588,235.29

$52,941,176.48

Macquarie Bank
Limited

3.529412%

$10,588,235.29

$52,941,176.48

Comerica Bank

3.529412%

$10,588,235.29

$52,941,176.48

Fifth Third Bank

3.529412%

$10,588,235.29

$52,941,176.48

TOTAL

100%

$300,000,000.00

$1,500,000,000.00

 

 

 

Annex I

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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EXHIBIT E

FORM OF ASSIGNMENT AND ASSUMPTION

Reference is made to the Second Amended and Restated Credit Agreement, dated as
of June 30, 2014 (as amended, restated, supplemented or otherwise modified from
time to time and in effect on the date hereof, the “Credit Agreement”), among
SANCHEZ ENERGY CORPORATION, a Delaware corporation (the “Borrower”), the Lenders
named therein and Royal Bank of Canada, as Administrative Agent for the
Lenders.  Capitalized terms defined in the Credit Agreement are used herein with
the same meanings.

The Assignor named below hereby sells and assigns, without recourse, to the
Assignee named below, and the Assignee hereby purchases and assumes, without
recourse, from the Assignor, effective as of the Assignment Date set forth
below, the interests set forth below (the “Assigned Interest”) in the Assignor’s
rights and obligations under the Credit Agreement, including, without
limitation, the interests set forth below in the Elected Commitment of the
Assignor on the Assignment Date and Loans owing to the Assignor which are
outstanding on the Assignment Date, together with the participations in Letters
of Credit and LC Disbursements held by the Assignor on the Assignment Date, but
excluding accrued interest and fees to and excluding the Assignment Date.  The
Assignee hereby acknowledges receipt of a copy of the Credit Agreement.  From
and after the Assignment Date (i) the Assignee shall be a party to and be bound
by the provisions of the Credit Agreement and, to the extent of the Assigned
Interest, have the rights and obligations of a Lender thereunder and (ii) the
Assignor shall, to the extent of the Assigned Interest, relinquish its rights
and be released from its obligations under the Credit Agreement.

This Assignment and Assumption is being delivered to the Administrative Agent
(with a copy to the Borrower) together with (i) if the Assignee is a Foreign
Lender, any documentation required to be delivered by the Assignee pursuant to
Section 5.03 of the Credit Agreement, duly completed and executed by the
Assignee, and (ii) if the Assignee is not already a Lender under the Credit
Agreement, an Administrative Questionnaire in the form supplied by the
Administrative Agent, duly completed by the Assignee.  The [Assignee/Assignor]
shall pay the fee payable to the Administrative Agent pursuant to Section
12.04(b) of the Credit Agreement.

This Assignment and Assumption shall be governed by and construed in accordance
with the laws of the State of New York.

Date of Assignment:

Legal Name of Assignor:

Legal Name of Assignee:

Assignee’s Address for Notices:

Effective Date:

 

Exhibit E Page 1

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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Facility

 

 

Principal Amount of

Maximum Credit

Amount Assigned

 

 

 

Principal Amount of

Elected Commitment

Assigned

 

Percentage Assigned of

Maximum Credit

Amount and Elected

Commitment Amount

(set forth, to at least 8

decimals)

Loans:

 

 

 

 

The terms set forth above and on the reverse side hereof are hereby agreed to:

 

 

 

 

 

 

[Name of Assignor], as Assignor

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

 

[Name of Assignee], as Assignee

 

 

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

 

 

Exhibit E Page 2

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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The undersigned hereby consent to the within assignment: 1

ROYAL BANK OF CANADA, as Administrative Agent

 

 

 

 

 

 

 

 

 

By:

 

 

 

Name:

 

 

 

Title:

 

 

 

 

 

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1.   Consents to be included to the extent required by Section 12.04(b) of the
Credit Agreement.

 

 

 

 

 

Exhibit E Page 3

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1.         Representations and Warranties.

 

1.1       Assignor.  The Assignor (a) represents and warrants that (i) it is the
legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest
is free and clear of any lien, encumbrance or other adverse claim and (iii) it
has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the
Credit Agreement or any other Loan Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan
Documents or any collateral thereunder, (iii) the financial condition of the
Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the
Borrower, any of its Subsidiaries or Affiliates or any other Person of any of
their respective obligations under any Loan Document.

1.2.      Assignee.  The Assignee (a) represents and warrants that (i) it has
full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement, (ii) it
satisfies the requirements, if any, specified in the Credit Agreement that are
required to be satisfied by it in order to acquire the Assigned Interest and
become a Lender, (iii) from and after the Effective Date, it shall be bound by
the provisions of the Credit Agreement as a Lender thereunder and, to the extent
of the Assigned Interest, shall have the obligations of a Lender thereunder,
(iv) it has received a copy of the Credit Agreement, together with copies of the
most recent financial statements delivered pursuant to Section 8.01(a) or
Section 8.01(b) thereof, as applicable, and such other documents and information
as it has deemed appropriate to make its own credit analysis and decision to
enter into this Assignment and Assumption and to purchase the Assigned Interest
on the basis of which it has made such analysis and decision independently and
without reliance on the Administrative Agent or any other Lender, and (v) if it
is a Foreign Lender, attached to the Assignment and Assumption is any
documentation required to be delivered by it pursuant to the terms of the Credit
Agreement, duly completed and executed by the Assignee; and (b) agrees that (i)
it will, independently and without reliance on the Administrative Agent, the
Assignor or any other Lender, and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Loan Documents, and (ii) it will perform
in accordance with their terms all of the obligations which by the terms of the
Loan Documents are required to be performed by it as a Lender.

2.         Payments.  From and after the Effective Date, the Administrative
Agent shall make all payments in respect of the Assigned Interest (including
payments of principal, interest, fees and other amounts) to the Assignor for
amounts which have accrued to but excluding the Effective Date and to the
Assignee for amounts which have accrued from and after the Effective Date.

3.         General Provisions.  This Assignment and Assumption shall be binding
upon, and inure to the benefit of, the parties hereto and their respective
successors and assigns.  This Assignment and Assumption may be executed in any
number of counterparts, which together shall constitute one
instrument.  Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by fax or other electronic transmission (e.g., .pdf)
shall be effective as delivery of a manually executed counterpart of this
Assignment and Assumption.  This Assignment and Assumption shall be governed by,
and construed in accordance with, the law of the State of New York.

 

 

Exhibit E Page 4

Ninth Amendment to Sanchez

Second Amended and Restated Credit Agreement

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