Document:

EX-4.27

 Exhibit 4.27 

DUKE UNIVERSITY 
 OPTION AGREEMENT

 THIS AGREEMENT is entered into between DUKE UNIVERSITY (hereafter referred to as “DUKE”), an institution of higher
education having offices at Durham, North Carolina 27710 and Medifocus Inc. (hereafter referred to as “COMPANY”), a corporation incorporated under the laws of Ontario, Canada, and having a principal place of business at 10240 Old Columbia
Rd. Suite G Columbia, Maryland 21046. 
 RECITALS 

A. DUKE is the owner of certain Patent Rights, hereafter defined, relating to the DUKE invention disclosure titled “A Method for Selective Expression of
Therapeutic Genes in Cancer Cells by Hyperthermia”, which is further identified as DUKE File #1519 (hereafter referred to as the “INVENTION”); and 

B. COMPANY wishes to obtain an option to negotiate a license under the Patent Rights, and DUKE is willing to grant such option upon the terms and conditions
set forth below: 
 NOW THEREFORE, in consideration of the mutual promises set forth below, DUKE and COMPANY agree as follows: 

 

	1.	Definitions: As used in this Option Agreement, the following terms have the following meanings: 

  

	 	(a)	“Patent Rights” means (a) the patents and patent applications listed in Appendix A (hereafter referred to as “Patent Applications”); (b) any patent (US or foreign) issuing on any such
Patent Applications; and (c) all divisions, continuations, continuations-in-part (but only to the extent that the subject matter of each such continuation-in-part application is described in and enabled by the disclosure of the Patent
Applications), re-examinations, reissues, substitutions, or extensions thereof and patent issuing from those things described in (a) or (b) above. It is understood and agreed that subject matter that is patentable distinct from the subject
matter described within the Patent Applications is not within the scope of the Patent Rights even though that patentable distinct subject matter may fall within the scope of one or more claims of the Patent Applications. For avoidance of doubt,
patentable distinct improvements relating to the subject matter of the Patent Applications are not Patent Rights under this Agreement. 

  

	 	(b)	“Option Period” means the period commencing on the Effective Date of this Option Agreement and ending at the close of business at DUKE on January 1, 2016. 

 

	 	(c)	“Effective Date” means May 1st, 2015. 

  
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 2. Disclosure and Evaluation: 
  

	 	(a)	Within a reasonable time after the Effective Date, DUKE will provide COMPANY with a copy of any U. S. patents or patent applications relating to the INVENTION and any other information about the INVENTION that DUKE
believes will be useful to COMPANY’s assessment of the INVENTION under the terms of Article 16 hereof. COMPANY will, based upon such disclosure and/or any other disclosure made in accordance with Article 16 hereof, evaluate the technical,
economic, and commercial qualities of the Patent Rights and INVENTION. 

  

	 	(b)	DUKE will also furnish to COMPANY reasonable opportunity to confer with the Inventor(s) of the Patent Rights and INVENTION. 

  

	 	(c)	The right to evaluate the Patent Rights does not include the right to sell, disclose or otherwise furnish to any third party any product made using the Patent Rights. 

 

	 	(d)	Except as expressly provided for herein, the option granted hereunder does not confer any rights upon COMPANY by implication, estoppel or otherwise as to any technology or intellectual property (including, but not
limited to, know-how, patent applications, patents, and the like) held by DUKE. 

 3. Consideration: 

 

	 	a.	As consideration for the Option granted COMPANY in Article 4 hereof, Company must pay DUKE a non-refundable, but fully creditable (upon exercise of the Option) Option Fee in the amount of $10,000 (Ten Thousand Dollars)
within thirty (30) days of the Effective Date. Failure to pay said Option Fee will result in immediate termination of this Option Agreement. 

  

	 	b.	Any amounts paid under this Article are not refundable under any circumstances except they are creditable against future payments owed to Duke in the event that this Option is executed by Company. All payments due to
Licensor under this Agreement must cite “DUKE File #1519 and must be made payable to “DUKE University” (EIN 56-0532129). If payments are made by wire, the wiring instructions below must be followed. Payments made by check, as well as
any notices, must be sent to Licensor at the following address: 

 For delivery via the U.S. Postal Service: 

DUKE UNIVERSITY 
 BOX 90083 

Durham, NC 27708 
 Attn:
Agreements Manager 

  
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 Bank Wire or ACH Payment Instructions: 

 

			
	Bank:		Wells Fargo Bank, N.A.
			301 S. Tryon Street
			Charlotte, NC 28282, USA
	ABA #:		121000248 (Domestic wires only)
	Swift Code:		WFBIUS6S (Foreign wires only)
	Beneficiary:		Duke University Concentration Account
	Account #:		202374-0253053
	Attention:		Office of Licensing & Ventures, 919-681-7583*

  

	*	This data must appear to ensure payment is credited to your account. 

 Note: All related fees
are the responsibility of the payer. 
 Licensee’s contact information regarding invoices and payments: 

 

					
	Name:		 Jennifer D’Andrea
		
			
	Institution:		 Medifocus, Inc.
		
			
	Address:		 10240 Old Columbia Rd. Suite G
		
			
	 		Columbia, MD 21046		
			
	Phone number:		 410-290-5734
		
			
	Fax number:		 410-290-7255
		
			
	Email:		 jdandrea@medifocusinc.com
		

 4. Option: DUKE grants to COMPANY, and COMPANY accepts, a non-transferable exclusive Option to negotiate an exclusive
license to the Patent Rights in the Field of Cancer and the Territory of Worldwide, said license to be in accordance with Article 6 of this Agreement. COMPANY may exercise the Option at any time during the Option Period, but only by giving written
notice of its exercise of the Option to DUKE. DUKE retains the right to practice under the Patent Rights for its own educational, research, and clinical purposes without restriction and without payment of royalties or other fees, including, but not
limited to, the right (a) to provide the Patent Rights to governmental laboratories and to other non-profit or not-for-profit institutions and (b) to perform research for non-commercial purposes without restriction and without payment of
royalties or other fees. 
 5. Termination: 
  

	 	(a)	If the Option granted by DUKE under Article 4 is not exercised by COMPANY, this Agreement terminates upon the expiration of the Option Period. 

 

	 	(b)	COMPANY may terminate the Option at any time by notifying DUKE in writing of its decision not to exercise said Option. 

  

	 	(c)	If this Agreement is terminated in accordance with the immediately preceding subsection 5(b), COMPANY must promptly return to DUKE any and all documents and/or patent applications that have been sent to COMPANY pursuant
to this Option Agreement, including any complete or partial copies thereof made by or on behalf of the COMPANY. 

  
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 6. License: Any license negotiated between COMPANY and DUKE as a result of this Option Agreement
(i) will be negotiated in good faith; (ii) may be limited by any rights of the U.S. government which may arise out of the government’s sponsorship of research leading to the Patent Rights and INVENTION; and (iii) will provide for
DUKE’s continued right to make, have made, or use Patent Rights and INVENTION for its own research, clinical, and educational purposes as described in Article 4. The terms of such license will include, but not be limited to, fees; royalty
provisions; due diligence requirements; mandatory sublicensing or grant-back requirements for applications of Patent Rights that COMPANY does not elect to pursue; payment of historic and ongoing patent expenses; and any other terms as mutually
agreed upon by the parties hereto. 
 7. Default: If the COMPANY fails to perform or fulfill at the time and in the manner herein provided, any
obligation or condition required to be performed or fulfilled by COMPANY hereunder, and if COMPANY fails to remedy such default within thirty (30) days after written notice thereof from DUKE, DUKE will have the right to terminate this Option
Agreement by written notice of termination to COMPANY. Any termination of this Agreement pursuant to this Article is in addition to, and is not exclusive of or prejudicial to, any other right or remedies at law or in equity that DUKE may have on
account of the default of COMPANY. 
 8. Survival of Terms: The provisions of Articles 1, 5(b), 5(c), 8, 9, 11, 12, 13, 15, 16, 17, 18, 20, and 21
shall survive the termination or expiration of this Option Agreement. 
 9. Governing Law: This Agreement is entered into in the State of North
Carolina and must be interpreted in accordance with and its performance governed by the laws of the State of North Carolina, without reference to its choice of law provisions. The parties hereby submit to the jurisdiction of the courts of North
Carolina in all matters concerning this Agreement. 
 10. Non-assignability: Any assignment by COMPANY of this Agreement or of any of the rights
granted to it hereunder, without the written consent of DUKE, is void. 
 11. Notices: Any notice to either party must be in writing, and signed by
the party giving it. Written notice may be served only in one of the following ways: (1) by hand, obtaining a receipt for delivery, (2) through the United States Mail, postage prepaid, certified, return receipt requested, or
(3) through Federal Express, Express Mail, or other expedited mail or package service, if a receipt showing the delivery has been retained, addressed as follows (or to such address as either party later specifies, in writing: 

  
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	 DUKE
	  	 LICENSEE

		
	Notices of a technical nature:	  	Augustine Y. Cheung
		  	Medifocus Inc.
		  	10240 Old Columbia Rd. Ste G
		  	Columbia, MD 21046
		
	All payments and non-technical notices:	  	
	Agreements Manager	  	Jennifer D’Andrea
	Office of Licensing & Ventures	  	Medifocus Inc.
	Box 90083	  	10240 Old Columbia Rd. Ste G
	Duke University	  	Columbia, MD 21046
	Durham, NC 27708	  	

 12. Warranties: DUKE MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED,
INCLUDING BUT NOT LIMITED TO WARRANTIES OF (A) MERCHANTABILITY AND/OR FITNESS FOR A PARTICULAR PURPOSE or (B) VALIDITY OF PATENT RIGHTS CLAIMS ISSUED OR PENDING. FURTHER, DUKE MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND,
EITHER EXPRESS OR IMPLIED, THAT THE USE OF INVENTION AND/OR PATENT RIGHTS WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT NOT INCLUDED IN THE PATENT RIGHTS. 

13. Indemnification: COMPANY must indemnify DUKE, its employees and officers and must hold such parties harmless from any action, claim, or liability,
including without limitation liability for death, personal injury, and/or property damage, arising directly or indirectly from COMPANY’s possession, testing, screening, distribution or other use of Patent and/or from COMPANY’s publication
or distribution of test reports, data, and other information relating to said items. 
 14. Non-Commercial Use: COMPANY promises to allow use of
INVENTION and Patent Rights solely by its authorized personnel and solely for the purpose of ascertaining its interest in pursuing licensing negotiations with DUKE. Further, COMPANY may not employ the INVENTION or Patent Rights for any gain during
the Option Period or thereafter, unless COMPANY obtains a duly executed license to Patent Rights from DUKE. 
 15. Confidentiality: COMPANY agrees to
accept all information, samples, documents, and other disclosures from DUKE hereunder (hereinafter “Confidential Information”) on a confidential basis only, and may not use Confidential Information for its commercial benefit (except for
technical and economic evaluation internal to COMPANY). COMPANY further agrees that it will keep in confidence and not disclose Confidential Information to a third party or parties for a period of five (5) years from the date of receipt of the
Confidential Information. Any obligation of COMPANY set forth in this Section 15 does not apply to any of the Confidential Information which: 
 (a)
are or hereafter become a part of the public knowledge through no fault of COMPANY; 
 (b) the COMPANY can demonstrate were in its possession prior to the
time of disclosure by DUKE; 
 (c) the COMPANY can demonstrate were received by it from a third party who has a legal right to make such a disclosure; or

 (d) the COMPANY can demonstrate by written evidence were developed by the COMPANY independently of the disclosure of Confidential Information by DUKE.

  
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 16. Transfer: DUKE does not transfer by operation of this Agreement, or by implication or otherwise, any
rights it now has or hereafter acquires in the INVENTION. 
 17. Use of DUKE’s Name: Under no circumstances may COMPANY use any trade-name,
personal name, trademark, trade device, service mark, symbol, image, icon, or any abbreviation, contraction or simulation thereof belonging to DUKE or its employees in any advertisement, press release, or publicity without prior written approval of
DUKE. 
 18. Data Sharing: COMPANY agrees that at the end of its evaluation hereunder, it will provide to DUKE a written summary report of all its
findings about the INVENTION and/or Patent Rights. 
 19. Notification of Lack of Commercial Interest: COMPANY will promptly notify DUKE during the
Option Period, or any extension thereof, if it determines that it has no commercial interest in the INVENTION. 
 20. Assignment. This Agreement may
not be assigned or transferred by either party without the prior written consent to the other party hereto. 
 21. Waiver. Failure by
either party to enforce any rights under this Agreement shall not be construed as a waiver of such rights nor shall a waiver by either party in one or more instances by construed as constituting a continuing waiver or as a waiver in other instances.

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above. 

 

									
	DUKE UNIVERSITY				Medifocus Inc.
					
	By:		 /S/ Rose Ritts
				By:		 /S/ Augustine Y. Cheung

			 Rose Ritts, Ph.D.,
 Executive Director,
						
			Office of Licensing & Ventures				Name:		 Augustine Y. Cheung

					
							Title:		 Chief Executive Officer

					
	Date:		 April 10, 2015
				Date:		 April 6, 2015

  
 - 6 -Exhibit 10.1

 

Execution copy

 

FIFTH AMENDMENT TO CREDIT AGREEMENT
 AND LIMITED WAIVER

 

THIS FIFTH AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER (this “Amendment”), effective as of the 10th day of July, 2015 (the “Effective Date”), is entered into by and among MAGNUM HUNTER RESOURCES CORPORATION, a Delaware corporation (the “Borrower”), the guarantors party hereto (the “Guarantors”), the Lenders (as hereinafter defined) party hereto and BANK OF MONTREAL, as administrative agent for the Lenders (the “Administrative Agent”).

 

RECITALS

 

WHEREAS, the Borrower, the lenders party thereto (the “Lenders”) and the Administrative Agent entered into that certain Fourth Amended and Restated Credit Agreement dated as of October 22, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”);

 

WHEREAS, the Borrower has requested that the Lenders amend certain provisions of the Credit Agreement;

 

WHEREAS, the Borrower, the Guarantors, the Lenders party thereto and the Administrative Agent entered into that certain Second Amendment to Credit Agreement and Limited Waiver dated as of April 17, 2015 (the “Second Amendment”), pursuant to which the Lenders party thereto agreed to waive certain provisions of the Credit Agreement as more particularly set forth therein, subject to compliance with the Waiver Condition (as defined in the Second Amendment) on or before May 29, 2015, as such date was subsequently extended pursuant to that certain Third Amendment to Credit Agreement and Limited Consent dated as of May 28, 2015, and that certain Fourth Amendment to Credit Agreement and Limited Consent dated as of June 19, 2015;

 

WHEREAS, the Borrower has requested that the Lenders agree to waive compliance with the Waiver Condition;

 

WHEREAS, each Lender named on Schedule A attached hereto (each an “Exiting Lender” and collectively, the “Exiting Lenders”) no longer desires to be a Lender under the Credit Agreement and wishes to sell and assign its rights and obligations under the Credit Agreement and the other Loan Documents to the Lenders named on Schedule B attached hereto (each an “Increasing Lender” and collectively, the “Increasing Lenders”);

 

WHEREAS, each Increasing Lender desires to purchase and assume the Exiting Lenders’ rights and obligations under the Credit Agreement and the other Loan Documents to the extent set forth herein; and

 

WHEREAS, the Lenders are willing to so amend the Credit Agreement and agree to such waiver, in each case, subject to the terms and conditions set forth herein.

 

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants set forth in this Amendment, the Borrower, the Guarantors, the Lenders 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.             Amendments to Credit Agreement.

 

(a)                                 Amendment to Section 1.02.

 

(i)            Section 1.02 of the Credit Agreement is hereby amended to restate the definition of “Adjusted Period” in its entirety as follows:

 

“Adjusted Period” means the period commencing on the First Amendment Effective Date and ending on the date on which the Borrower delivers (a) a certificate pursuant to Section 8.01(c) for any fiscal quarter for which the waiver of compliance set forth in subsections (a) and (b) of Section 9.01 is no longer in effect, demonstrating compliance with the covenants set forth in subsections (a), (b) and, to the extent then applicable, (c) of Section 9.01, in each case, for the fiscal quarter pursuant to which such certificate is delivered, and certifying that no Default has occurred and is continuing and (b) the financial statements for such fiscal quarter as required by Section 8.01(a) or Section 8.01(b), as applicable; provided that, for purposes of Section 9.05 only, the Adjusted Period shall end on the earlier of (i) the date referenced in clause (a) above or (ii) the date on which the Borrower delivers a certificate of a Financial Officer in form and substance reasonably satisfactory to the Administrative Agent delivered after the occurrence of the Trigger Date (A) certifying that no Default has occurred and is continuing and (B) setting forth reasonably detailed calculations demonstrating that the Current Ratio as of the last day of the calendar month most recently ended is equal to or greater than 1.0 to 1.0.

 

(ii)           Section 1.02 of the Credit Agreement is hereby amended to delete the definitions of “Liquidity Event” and “Pro Forma Compliance Certificate” in their entirety.

 

(iii)          Section 1.02 of the Credit Agreement is hereby amended to add the following new definition of “Trigger Date” in proper alphabetical order:

 

“Trigger Date” means the date on which the Borrower consummates the sale of all or substantially all of its Equity Interests in Eureka Hunter Holdings.

 

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(b)                                 Amendment to Section 9.01.  Section 9.01 of the Credit Agreement is hereby amended to add the following new sentence to the end of subsections (a) and (b) of said Section:

 

“Notwithstanding the foregoing, compliance with the foregoing covenant shall be waived for the fiscal quarter ended June 30, 2015 and for each fiscal quarter ending thereafter until the earlier of (i) the fiscal quarter ending December 31, 2015, or (ii) the fiscal quarter in which the Trigger Date occurs, at which time such waiver shall no longer be in effect commencing with the earlier of the fiscal quarters referred to in clauses (i) and (ii); provided that such waiver of compliance shall be disregarded for purposes of determining pro forma compliance with said covenant (giving effect to such prepayment and any prepayment penalty required in connection therewith) as a condition to voluntary prepayments in respect of the Second Lien Term Loans, in accordance with Section 9.20(a)(iii).”

 

(c)                                  Amendment to Section 9.02.  Section 9.02 of the Credit Agreement is hereby amended to restate subsection (c) thereof in its entirety as follows:

 

“(c)         accounts payable and accrued expenses, liabilities or other obligations to pay the deferred purchase price of Property or services, from time to time incurred in the ordinary course of business which are not more than (i) 180 days past the date of invoice with respect to any day on or prior to the earlier of (A) December 31, 2015 or (B) the date that is ten Business Days after the Trigger Date or (ii) 90 days past the date of invoice with respect to any day after the earlier of (A) December 31, 2015 or (B) the date that is ten Business Days after the Trigger Date or, in each case, which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP;”

 

(d)                                 Amendment to Credit Agreement.  The Credit Agreement is hereby amended to delete Annex I thereto in its entirety and substitute in its place Annex I attached hereto.

 

3.             Limited Waiver.  Subject to the terms and conditions set forth in Section 6 herein, the Lenders party hereto hereby agree to a permanent waiver of compliance with the Waiver Condition.  The waiver granted in the immediately preceding sentence (the “Waiver”) is limited to a waiver of the Waiver Condition, and no other terms, covenants or provisions of the Credit Agreement or any other Loan Document are intended to be affected hereby.  The Waiver shall not in any manner create a course of dealing or otherwise impair the future ability of the Administrative Agent or the Lenders to declare a Default or Event of Default under or otherwise enforce the terms of the Credit Agreement or any other Loan Document, with respect to any matter other than those specifically and expressly waived in the Waiver.

 

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4.             Ratification.  Each of the Borrower and the Guarantors hereby ratifies all of its respective obligations under the Credit Agreement and each of the Loan Documents to which it is a party, and agrees and acknowledges that the Credit Agreement and each of the Loan Documents to which it is a party are and shall continue to be in full force and effect as modified by this Amendment.  Except as provided herein, nothing in this Amendment extinguishes, novates or releases any right, claim, lien, security interest or entitlement of any of the Lenders or the Administrative Agent created by or contained in any of such documents nor is the Borrower nor any Guarantor released from any covenant, warranty or obligation created by or contained herein or therein.

 

5.             Representations and Warranties.  The Borrower and Guarantors hereby represent and warrant to the Administrative Agent and the Lenders that (a) this Amendment has been duly executed and delivered on behalf of the Borrower and Guarantors, (b) this Amendment constitutes a valid and legally binding agreement enforceable against the Borrower and Guarantors in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law, (c) the representations and warranties contained in the Credit Agreement and the Loan Documents are true and correct on and as of the date hereof in all material respects as though made as of the date hereof (except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct in all material respects as of such specified earlier date); provided that any representation or warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates, (d) after giving effect to this Amendment, no Default or Event of Default exists under the Credit Agreement or under any Loan Document as of the Effective Date and (e) the execution, delivery and performance of this Amendment has been duly authorized by the Borrower and Guarantors.

 

6.             Conditions to Effectiveness.  This Amendment shall be effective on the Effective Date upon satisfaction of the following conditions:

 

(a)                                 receipt by the Administrative Agent of counterparts of this Amendment executed by the Borrower, the Guarantors, the Increasing Lenders, such other Lenders that, when combined with the Increasing Lenders and after giving effect to the assignments set forth in Section 8 below, constitute the Majority Lenders, and the Exiting Lenders;

 

(b)                                 payment by the Borrower of the fees set forth in that certain letter dated as of July 3, 2015, between the Administrative Agent and the Borrower; and

 

(c)                                  receipt by the Administrative Agent of all amounts outstanding under the Credit Agreement in respect of each Exiting Lender.

 

7.             Post-Closing Covenant.  On or before the date that is fifteen (15) Business Days after the Effective Date, the Borrower shall provide evidence satisfactory to the Administrative Agent that the Borrower has entered into Swap Agreements in the form of purchased put options,

 

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swaps or purchased put portions of costless collars (a) with Approved Counterparties and (b) (i) in respect of crude oil (including natural gas liquids), with minimum monthly volumes from August 2015 to December 2015 of 75,000 bbl per month at a five month average price of $52.50 and (ii) in respect of natural gas, with minimum monthly volumes from August 2015 to December 2015 of 1,800 mmcf per month at a five month average price of $2.65.  The Borrower may request, and the Administrative Agent may at its sole discretion approve, a reasonably comparable modification to the foregoing covenant.

 

8.             Exiting Lenders.  Simultaneously with the effectiveness of this Amendment, each Exiting Lender shall be deemed to have, and does hereby sell and assign, without recourse, to the respective Increasing Lenders, and each Increasing Lender hereby purchases and assumes, without recourse, from the respective Exiting Lenders, all of the interests in such Exiting Lender’s rights and obligations under the Credit Agreement, including, without limitation, the Commitment of such Exiting Lender on the Effective Date and all of the Loans owing to such Exiting Lender that are outstanding on the Effective Date, together with all of the participations in Letters of Credit and LC Disbursements held by such Exiting Lender on the Effective Date, but excluding accrued interest and fees to but excluding the Effective Date, such that, after giving effect to this Amendment, (a) each Exiting Lender shall (i) be paid in full for all amounts owing to such Exiting Lender under the Credit Agreement, (ii) cease to be a Lender under the Credit Agreement and the other Loan Documents and, to the extent such Exiting Lender is named as a Syndication Agent, Co-Documentation Agent or any similar capacity under the Credit Agreement, such Exiting Lender shall cease to hold such title, and (iii) relinquish its rights (provided that it shall still be entitled to any rights that expressly survive termination of the Commitments in respect of any circumstance, event or condition arising prior to the Effective Date) and be released from its obligations under the Credit Agreement and the other Loan Documents and (b) the Maximum Credit Amount of each Increasing Lender shall be as set forth on Annex I to this Amendment.  No fees required under Section 12.04(b)(ii) of the Credit Agreement shall be due by or to any Person in connection with the foregoing assignments, all of which are waived by any party entitled thereto.  The Increasing Lenders and the Administrative Agent shall make all appropriate adjustments in payments under the Credit Agreement for periods prior to the Effective Date among themselves.  Each Exiting Lender is executing this Amendment for the sole purpose of evidencing its agreement to this Section 8 only and for no other purpose.

 

9.             Counterparts.  This Amendment may be signed in any number of counterparts, which may be delivered in original, electronic or facsimile form each of which shall be construed as an original, but all of which together shall constitute one and the same instrument.

 

10.          Governing Law.  This Amendment, all Notes, the other Loan Documents and all other documents executed in connection herewith shall be deemed to be contracts and agreements under the laws of the State of New York and of the United States of America and for all purposes shall be construed in accordance with, and governed by, the laws of New York and of the United States.

 

11.          Final Agreement of the Parties.  Any previous agreement among the parties with respect to the subject matter hereof is superseded by the Credit Agreement, as modified by this Amendment.  Nothing in this Amendment, express or implied, is intended to confer upon any

 

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party other than the parties hereto any rights, remedies, obligations or liabilities under or by reason of this Amendment.

 

12.          Amendment is a Loan Document; References to Credit Agreement.  This Amendment is a Loan Document, as defined in the Credit Agreement.  All references in the Credit Agreement to “this Agreement” shall mean the Credit Agreement as modified by this Amendment.

 

[Signature Pages Follow]

 

6

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized as of the Effective Date.

 

	
 
    	
BORROWER:
    
	
 
    	
 
    
	
 
    	
MAGNUM   HUNTER RESOURCES
    
	
 
    	
CORPORATION,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GUARANTORS:
    
	
 
    	
 
    
	
 
    	
MAGNUM   HUNTER RESOURCES LP,
    
	
 
    	
a   Delaware limited partnership
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Magnum   Hunter Resources GP, LLC,
    
	
 
    	
 
    	
its   general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Joseph C. Daches
    
	
 
    	
 
    	
 
    	
Joseph C. Daches
    
	
 
    	
 
    	
 
    	
Senior Vice President   and Treasurer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
MAGNUM HUNTER RESOURCES   GP, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TRIAD   HUNTER, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
MAGNUM   HUNTER PRODUCTION INC.,
    
	
 
    	
a   Kentucky corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NGAS   HUNTER, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BAKKEN   HUNTER CANADA, INC.,
    
	
 
    	
a   corporation existing under the laws of the 
    
	
 
    	
Province   of Alberta
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BAKKEN   HUNTER, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
MAGNUM   HUNTER MARKETING, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
VIKING   INTERNATIONAL RESOURCES CO., INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SHALE   HUNTER, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
HUNTER   REAL ESTATE, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TRIAD   HOLDINGS, LLC,
    
	
 
    	
an   Ohio limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph C. Daches
    
	
 
    	
 
    	
Joseph   C. Daches
    
	
 
    	
 
    	
Senior   Vice President and Treasurer
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
ADMINISTRATIVE AGENT AND LENDER:
    
	
 
    	
 
    
	
 
    	
BANK OF MONTREAL
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Gumaro Tijerina
    
	
 
    	
 
    	
Gumaro Tijerina
    
	
 
    	
 
    	
Managing Director
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
LENDER:
    
	
 
    	
 
    
	
 
    	
CREDIT SUISSE AG,   Cayman Islands Branch
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Nupur Kumar
    
	
 
    	
Name:
    	
Nupur Kumar
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Franziska Schoch
    
	
 
    	
Name:
    	
Franziska Schoch
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
LENDER:
    
	
 
    	
 
    
	
 
    	
CAPITAL ONE, NATIONAL   ASSOCIATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Higgins
    
	
 
    	
Name:
    	
Michael   Higgins
    
	
 
    	
Title:
    	
Director
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
LENDER:
    
	
 
    	
 
    
	
 
    	
SUNTRUST   BANK
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Shannon Juhan
    
	
 
    	
Name:
    	
Shannon   Juhan
    
	
 
    	
Title:
    	
Director
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
LENDER:
    
	
 
    	
 
    
	
 
    	
CITIBANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Phil Ballard
    
	
 
    	
Name:
    	
Phil   Ballard
    
	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
LENDER:
    
	
 
    	
 
    
	
 
    	
DEUTSCHE BANK AG NEW   YORK BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Benjamin Souh
    
	
 
    	
Name:
    	
Benjamin   Souh
    
	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Winters
    
	
 
    	
Name:
    	
Michael   Winters
    
	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
LENDER:
    
	
 
    	
 
    
	
 
    	
GOLDMAN SACHS LENDING   PARTNERS LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michelle Latzoni
    
	
 
    	
Name:
    	
Michelle   Latzoni
    
	
 
    	
Title:
    	
Authorized   Signatory
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

	
 
    	
LENDER
    
	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Alia Qaddumi
    
	
 
    	
Name:
    	
Alia   Qaddumi
    
	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Fifth Amendment and Limited Wavier

 

 

SCHEDULE A

 

EXITING LENDERS

 

Capital One, National Association

 

SunTrust Bank

 

Citibank, N.A.

 

Deutsche Bank AG New York Branch

 

Goldman Sachs Lending Partners LLC

 

Bank of America, N.A.

 

 

SCHEDULE B

 

INCREASING LENDERS

 

Bank of Montreal

 

 

ANNEX I

 

LIST OF MAXIMUM CREDIT AMOUNTS

 

	
Name of Lender
    	
 
    	
Applicable Percentage
    	
 
    	
Maximum Credit
   Amount
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Bank of Montreal
    	
 
    	
76.25
    	
%
    	
$
    	
190,625,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Credit Suisse   AG, Cayman Islands Branch
    	
 
    	
13.25
    	
%
    	
$
    	
33,125,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
ABN AMRO Capital   USA LLC
    	
 
    	
10.50
    	
%
    	
$
    	
26,250,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
TOTAL
    	
 
    	
100.000000000
    	
%
    	
$
    	
250,000,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}]]