Document:

Exhibit

Exhibit 10.11
Execution Version

FIFTH AMENDMENT dated as of March 3, 2017 (this “Fifth Amendment”), to the Credit Agreement dated as of December 15, 2014 (as amended by that certain First Amendment dated as of March 31, 2015, that certain Second Amendment dated as of September 28, 2015, that certain Resignation of Administrative Agent and Appointment of Administrative Agent Agreement dated as of February 4, 2016, that certain Third Amendment dated as of March 1, 2016, that certain Fourth Amendment dated as of July 26, 2016, and as it may be further amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Willbros Group, Inc., a Delaware corporation (the “Borrower”), the Guarantors from time to time party thereto, the Lenders from time to time party thereto, KKR Credit Advisors (US) LLC, as Arranger (the “Arranger”), and Cortland Capital Market Services LLC, as Administrative Agent (in such capacity, the “Administrative Agent”).

WHEREAS, the Loan Parties, the Administrative Agent and the Lenders are parties to the Credit Agreement, pursuant to which the Lenders made Tranche B Loans to the Borrower.
WHEREAS, the Borrower has requested that (a) the testing of the financial covenants set forth in Sections 6.15 and 6.16 of the Credit Agreement be suspended during the Covenant Test Suspension Period (as defined herein) and (b) certain financial covenant levels set forth in Sections 6.15 and 6.16 of the Credit Agreement be amended.
WHEREAS, the Borrower has informed the Administrative Agent and the Lenders that the Borrower desires to consummate the Tanks Disposition (as defined herein) and, in connection therewith, requested that the Tanks Disposition be permitted under the Credit Agreement and the Borrower be permitted to retain the Net Proceeds thereof.
WHEREAS, pursuant to, and in compliance with the requirements of, Section 10.01 of the Credit Agreement, each Lender is willing to agree to the Borrower’s requests, in each case on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in further consideration of the premises and mutual covenants contained herein, the parties hereto agree as follows:
A.Defined Terms.  Capitalized terms used but not defined herein (including the recitals hereto) shall have the meanings assigned to such terms in the Credit Agreement.
B.    Amendments to the Credit Agreement.  As of the Fifth Amendment Effective Date (as defined below), the Credit Agreement is hereby amended as follows:
1.    Section 1.01 of the Credit Agreement is hereby amended by adding the following defined terms in appropriate alphabetical order:
““Fifth Amendment” means the Fifth Amendment dated as of March 3, 2017, to this Agreement.”

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““Fifth Amendment Effective Date” means March 3, 2017.”
““Tanks Business” means the “U.S. tanks services” line of business conducted by the Borrower and its Subsidiaries.
““Tanks Disposition” means the disposition of all or substantially all the assets of the Tanks Business, whether such disposition is by means of the disposition of such assets or of the Equity Interests in one or more Subsidiaries that hold such assets (and no other assets), provided that such disposition is consummated (a) in accordance with Section 6.04(h) and (b) without any recourse to the Borrower or any of its Subsidiaries, other than customary purchase price adjustments, escrow arrangements and indemnities set forth in the definitive agreement for such disposition.”
2.    The definition of “Consolidated EBITDA” set forth in Section 1.01 of the Credit Agreement is hereby amended by amending and restating clause (a) therein in its entirety as follows:
“(a) Consolidated Net Income, excluding the results of discontinued operations for such period (as determined in accordance with GAAP, provided that for purposes of the foregoing, the Tanks Business shall be deemed to constitute a discontinued operation); plus”
3.    The definition of “Consolidated EBITDA” set forth in Section 1.01 of the Credit Agreement is hereby further amended by adding the following language to the end of such definition:
“Notwithstanding anything to the contrary in this definition or otherwise herein or in any other Loan Document, (i) Consolidated EBITDA for the four fiscal quarter period ending September 30, 2017 shall be equal to (a)(x) the Consolidated EBITDA for the fiscal quarter ending June 30, 2017 plus (y) the Consolidated EBITDA for the fiscal quarter ending September 30, 2017, multiplied by (b) two (2) and (ii) Consolidated EBITDA for the four fiscal quarter period ending December 31, 2017 shall be equal to (a)(x) the Consolidated EBITDA for the fiscal quarter ending June 30, 2017 plus (y) the Consolidated EBITDA for the fiscal quarter ending September 30, 2017 plus (z) the Consolidated EBITDA for the fiscal quarter ending December 31, 2017, divided by (b) three (3) and multiplied by (b) four (4).”
4.    The definition of “Covenant Test Suspension Period” set forth in Section 1.01 of the Credit Agreement is hereby amended by amending and restating such defined term in its entirety as follows:
““Covenant Test Suspension Period” means the fiscal quarters ending December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015, December 31, 2015, March 31, 2016, June 30, 2016, September 30, 2016, December 31, 2016, March 31, 2017 and June 30, 2017.”

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5.    Section 2.06(c)(i)(B) of the Credit Agreement is hereby amended by adding the following language as a new subclause (5), immediately following subclause (4) therein:
“(5)    In the case of any Net Proceeds received by the Borrower and its Subsidiaries in respect of the Tanks Disposition, such Net Proceeds shall not, unless otherwise agreed by the Borrower, be subject to the requirements set forth in Section 2.06(c)(i)(A) and may be retained by the Borrower (and, prior to its permitted use as set forth below, shall be held by the Loan Parties solely in one or more deposit accounts subject to a deposit account control agreement for the benefit of the Administrative Agent providing for a perfected Lien in favor of the Administrative Agent), and be used by the Borrower solely for working capital in the ordinary course of business and other general corporate purposes in the ordinary course of business (including as the cash collateral component of the “borrowing base” under the ABL Documents or as cash collateral to support obligations of the Borrower and its Subsidiaries in respect of letters of credit, surety bonds, performance bonds and similar obligations), in each case, excluding any Investments (other than intercompany loans and advances), Acquisitions and Restricted Payments, in each case otherwise permitted hereunder.”
6.    Section 6.04(h) of the Credit Agreement is hereby amended and restated in its entirety as follows:
“(h) any other Asset Dispositions; provided that (i) each such Asset Disposition is for fair market value, (ii) at least 75% of the consideration for each such Asset Disposition is cash or Cash Equivalents, (iii) no Default or Event of Default has occurred and is continuing after giving effect to such Asset Disposition, and (iv) each such Asset Disposition consummated after the Second Amendment Effective Date either is (A) a Designated Asset Disposition consummated on or prior to the Designated Asset Disposition Outside Date or (B) the Tanks Disposition; provided further that, for the avoidance of doubt, (x) upon the completion of all the Designated Asset Dispositions after the Second Amendment Effective Date, no other Asset Dispositions shall be permitted under this clause (h) until the Fifth Amendment Effective Date and (y) upon the completion of the Tanks Disposition after the Fifth Amendment Effective Date, no other Asset Dispositions shall be permitted under this clause (h).”
7.    Section 6.15 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“6.15    Minimum Interest Coverage Ratio.  Permit the Interest Coverage Ratio as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2017, to be less than the ratio set forth below with respect to such fiscal quarter:

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	Fiscal Quarter
	Minimum Interest Coverage Ratio

	Fiscal quarter ending September 30, 2017
	1.60 to 1.00

	Fiscal quarter ending December 31, 2017
	2.00 to 1.00

	Fiscal quarter ending March 31, 2018
	2.00 to 1.00

	Fiscal quarters ending June 30, 2018 and thereafter
	2.75 to 1.00

8.    Section 6.16 of the Credit Agreement is hereby and restated in its entirety as follows:
“6.16    Maximum Total Leverage Ratio.  Permit the Total Leverage Ratio as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2017, to exceed the ratio set forth below with respect to such fiscal quarter:

	
		
	Fiscal Quarter
	Maximum Total Leverage Ratio

	Fiscal quarter ending September 30, 2017
	5.50 to 1.00

	Fiscal quarter ending December 31, 2017
	4.50 to 1.00

	Fiscal quarter ending March 31, 2018
	4.50 to 1.00

	Fiscal quarters ending June 30, 2018 and thereafter
	3.00 to 1.00

9.    Section 6.19 of the Credit Agreement is hereby amended by amending and restating the proviso therein in its entirety as follows:
“provided that the financial covenants set forth in Sections 6.15 and 6.16 (with respect to the periods prior to September 30, 2017, as they would have been in effect prior to the Fifth Amendment Effective Date) shall be applicable for all other purposes tested or referenced under this Agreement as if in effect during the Covenant Test Suspension Period.”
C.    Conditions to Effectiveness of Fifth Amendment.  This Fifth Amendment shall become effective on the first date (the “Fifth Amendment Effective Date”) on which:
1.    The Arranger and the Administrative Agent (or their respective counsels) shall have received duly executed counterparts hereof that, when taken together, bear their respective signatures and the signatures of the Borrower and each Lender;
2.    The Arranger and the Administrative Agent (or their respective counsels) shall have received a certificate dated the Fifth Amendment Effective Date from a Responsible Officer of the Borrower certifying that:

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i.The Borrower and its Subsidiaries, taken as a whole, after giving effect to this Fifth Amendment, are Solvent as of the Fifth Amendment Effective Date;
ii.No Default or Event of Default has occurred and is continuing as of the Fifth Amendment Effective Date;
iii.All representations and warranties of the Loan Parties set forth in Article IV of the Credit Agreement are true and correct as of the Fifth Amendment Effective Date in all material respects (except that to the extent any representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty shall be true and correct in all respects as of the Fifth Amendment Effective Date), except to the extent that any such representation and warranty relates solely to an earlier date, in which case such representation and warranty was true and correct in all material respects (except that to the extent any representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty was true and correct in all respects) as of such earlier date; and
iv.The Organizational Documents of each Loan Party, including all amendments thereto, delivered to the Administrative Agent (or its predecessor in such capacity) on December 15, 2014 pursuant to the Credit Agreement, on March 31, 2015 pursuant to the First Amendment, on September 28, 2015 pursuant to the Second Amendment, on March 1, 2016 pursuant to the Third Amendment, on July 26, 2016 pursuant to the Fourth Amendment or on any other date prior to the Fifth Amendment Effective Date pursuant to any Joinder Agreement to the Credit Agreement, remain in full force and effect as of the Fifth Amendment Effective Date and have not been amended, waived or supplemented since such date of delivery to the Fifth Amendment Effective Date; and 
3.    The Borrower shall have paid all fees due and payable pursuant to that certain Fifth Amendment Fee Letter dated as of even date herewith. 
D.    Representations and Warranties. Each Loan Party represents and warrants as of the Fifth Amendment Effective Date as follows:
1.    Authority Etc.  Each of the Loan Parties has the requisite organizational power and authority to execute, deliver and perform this Fifth Amendment. The execution, delivery and performance by each Loan Party of this Fifth Amendment (i) have been duly authorized by all necessary organizational action on the part of such Loan Party, (ii) do not and will not (A) contravene the terms of such Loan Party’s Organizational Documents, (B) violate any Legal Requirement or (C) conflict with or result in any breach or contravention of, or the creation of any Lien (other than any Lien created under the Loan Documents and Liens created under the ABL Documents) under, (1) the provisions of any indenture, instrument or agreement to which such Loan Party is a party or by which it or its property is bound or (2) any order injunction, writ or decree of any Governmental Authority or any arbitral award to which such Loan Party or its property is subject, except, in the case of clauses (ii)(B) and (ii)(C) above, to the extent any of the foregoing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  No authorization, 

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approval, consent, exemption or other action by, or notice to or filing with, any Governmental Authority is necessary or required on the part of any Loan Party in connection with the execution, delivery and performance by any Loan Party of this Fifth Amendment, except (I) as such have been obtained or made and are in full force and effect, and (II) actions by, and notices to or filings with, Governmental Authorities (including the SEC) that may be required in the ordinary course of business from time to time or that may be required to comply with the express requirements of the Loan Documents.
2.    Enforceability. This Fifth Amendment has been duly executed and delivered by each Loan Party.  This Fifth Amendment constitutes a legal, valid and binding obligation of each Loan Party, enforceable against such Loan Party in accordance with its terms, except as such enforceability may be limited by any applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or similar law affecting creditors’ rights generally or general principles of equity.
3.    Representations and Warranties. After giving effect to this Fifth Amendment, the representations and warranties contained in each Loan Document are true and correct in all material respects (except that such materiality qualifier shall be not applicable to any representations and warranties that already are qualified or modified by the materiality in the text thereof) on and as of the date hereof, as though made on and as of the date hereof (except to the extent that such representations and warranties relate solely to an earlier date, in which case, such representations and warranties shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of such earlier date).
4.    No Default. No Default or Event of Default has occurred and is continuing as of the date hereof.
E.    Reaffirmation and Ratification.  The Loan Parties hereby:
1.    acknowledge and agree that the Liens and security interests created under the Security Agreement and the other Security Documents in favor of the Administrative Agent for the benefit of the Secured Parties and securing payment of all “Obligations” (including, without limitation, all prior loans or advances made to the Borrower by the Lenders) outstanding pursuant to the Credit Agreement shall remain in full force and effect with respect to the Obligations and are hereby and thereby reaffirmed,
2.    acknowledge and reaffirm their respective obligations as set forth in each Loan Document (as amended or otherwise modified by this Fifth Amendment), including, without limitations, all Obligations under the Credit Agreement and the other Loan Documents (as amended or otherwise modified by this Fifth Amendment),
3.    agree to continue to comply with, and be subject to, all of the terms, provisions, conditions, covenants, agreements and obligations applicable to them set forth in each Loan Document (as amended or otherwise modified by this Fifth Amendment), which remain in full force and effect, and 

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4.    confirm, ratify and reaffirm that (i) the guarantees and indemnities given by them pursuant to the Credit Agreement and/or any other Loan Documents continue in full force and effect, following and notwithstanding the amendments thereto pursuant to this Fifth Amendment, and (ii) the security interest granted to Administrative Agent, for the benefit of the Secured Parties, pursuant to the Loan Documents in all of their right, title, and interest in all then existing and thereafter acquired or arising Collateral in order to secure prompt payment and performance of the Obligations, is continuing and is and shall remain unimpaired and continue to constitute a first priority security interest (subject to Permitted Liens) in favor of the Administrative Agent, for the benefit of the Secured Parties, with the same force, effect and priority in effect immediately prior to entering into this Fifth Amendment.
F.    Release.  Each Loan Party hereby remises, releases, acquits, satisfies and forever discharges the Arranger, the Administrative Agent, the Lenders and their respective agents, employees, officers, directors, predecessors, attorneys and all others acting or purporting to act on behalf of or at the direction of the Arranger, the Administrative Agent or the Lenders (“Releasees”), of and from any and all manner of actions, causes of action, suits, damages, claims and demands, in each case, that as of the date hereof are known or reasonably should be known to such Loan Party, in law or in equity, which such Loan Party ever had, now has or, to the extent arising from or in connection with any act, omission or state of facts taken or existing on or prior to the date hereof, may have after the date hereof against the Releasees, for, upon or by reason of any matter, cause or thing whatsoever through the date hereof (it being understood that nothing in this sentence shall release or otherwise affect the covenants of the Releasees under the Credit Agreement and the other Loan Documents, in each case, after the Fifth Amendment Effective Date).  Without limiting the generality of the foregoing, each Loan Party hereby waives and affirmatively agrees not to allege or otherwise pursue any actions, causes of action, suits, damages, claims and demands that it shall or may have as of the date hereof against any Releasees in connection with the Credit Agreement or the other Loan Documents, including, but not limited to, the rights to contest (a) the right of the Arranger, the Administrative Agent and each Lender to exercise its rights and remedies described in the Credit Agreement, (b) any provision of the Credit Agreement or the other Loan Documents or (c) any conduct of the Arranger, the Administrative Agent, the Lenders or other Releasees relating to or arising out of the Credit Agreement or the other Loan Documents on or prior to the date hereof.
G.    Estoppel.  To induce the Arranger, the Administrative Agent and the Lenders to enter into this Fifth Amendment, each Loan Party hereby acknowledges and agrees that, after giving effect to this Fifth Amendment, as of the date hereof, to the knowledge of any Loan Party, there exists no right of offset, defense, counterclaim or objection in favor of any Loan Party as against the Arranger, the Administrative Agent or any Lender with respect to the Obligations.
H.    Effects on Loan Documents.  Except as specifically amended herein or pursuant hereto, all provisions of the Credit Agreement and the other Loan Documents shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  Except as otherwise expressly provided herein, the execution, delivery and effectiveness of this Fifth Amendment shall not operate as a waiver of any right, power or remedy of any Lender, the Arranger or the Administrative Agent under any of the Loan Documents or constitute a waiver or consent of any provision of the Loan Documents or to any further or future action on the part of the Loan Parties that would require a waiver or consent of the Majority Lenders or the Administrative Agent.

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I.    GOVERNING LAW; WAIVER OF JURY TRIAL.  THIS FIFTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  EACH PARTY HERETO HEREBY AGREES AS SET FORTH FURTHER IN SECTION 10.13 OF THE CREDIT AGREEMENT AS IF SUCH SECTION WAS SET FORTH IN FULL HEREIN, MUTATIS MUTANDIS. 
J.    Loan Document.  This Fifth Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.  From and after the Fifth Amendment Effective Date, the terms “Agreement”, “this Agreement”, “herein”, “hereafter”, “hereto”, “hereof” and words of similar import, as used in the Credit Agreement and the other Loan Documents, shall refer to the Credit Agreement as amended hereby.
K.    Execution in Counterparts.  This Fifth Amendment may be executed in counterparts (and by different parties hereto in different counterparts), including by means of facsimile or electronic transmission, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.
[signature pages to follow]

IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.

	
			
	WILLBROS GROUP, INC.
	 

	By:
	/s/ Richard W. Russler

	Name:
	Richard W. Russler

	Title:
	Treasurer

Signature Page to Fifth Amendment

	
			
	CORTLAND CAPITAL MARKET SERVICES LLC, as Administrative Agent,
	 

	By:
	/s/ Polina Arsentyeva

	Name:
	Polina Arsentyeva

	Title:
	Associate Counsel

Signature Page to Fifth Amendment

ACKNOWLEDGED AND AGREED BY: 
	
		
	CHAPMAN CONSTRUCTION CO., L.P.

	CHAPMAN CONSTRUCTION MANAGEMENT CO., INC.

	CONSTRUCTION TANK SERVICES, LLC

	LINEAL INDUSTRIES, INC.

	TRAFFORD CORPORATION

	WILLBROS CONSTRUCTION (U.S.), LLC

	WILLBROS ENGINEERING & SERVICES, LLC

	WILLBROS T&D SERVICES, LLC
WILLBROS UNITED STATES HOLDINGS, INC.
WILLBROS UTILITY T&D GROUP COMMON  PAYMASTER, LLC
WILLBROS UTILITY T&D HOLDINGS, LLC
WILLBROS UTILITY T&D OF NEW YORK, LLC
WILLBROS WEST COAST SERVICES, INC.
	 

	
		
	By:
	/s/ Richard W. Russler

	Name:
	Richard W. Russler

	Title:
	Treasurer

Signature Page to Fifth Amendment

KKR LENDING PARTNERS II L.P., 
as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

CORPORATE CAPITAL TRUST, INC., 
as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

KKR LENDING PARTNERS FUNDING LLC, 
as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

KKR-VRS CREDIT PARTNERS L.P., 
as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

KKR LENDING PARTNERS FUNDING III LLC, as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

KKR CREDIT SELECT FUNDING LLC, 
as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

Signature Page to Fifth Amendment

        

LINCOLN INVESTMENT SOLUTIONS, INC., 
as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

CCT SE I LLC – DIRECT LENDING, 
as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

KKRLP II GERMAN FUNDING LLC, 
as a Lender 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

KKR CREDIT ADVISORS (US) LLC, 
as Arranger 
	
		
	By:
	/s/ Jeffrey M. Smith

	Name:
	Jeffrey M. Smith

	Title:
	Authorized Signatory

Signature Page to Fifth AmendmentExhibit 10.1

 

Execution Version

 

AMENDMENT TO FIRST LIEN EXIT CREDIT
AGREEMENT

 

This AMENDMENT TO FIRST
LIEN EXIT CREDIT AGREEMENT (“Amendment”), dated effective as of March 3, 2017 (the “Amendment Effective
Date”), is by and among Energy XXI Gulf Coast, Inc., a Delaware corporation (the “Borrower”), the
lenders party to the First Lien Exit Credit Agreement described below (the “Lenders”), and Wells Fargo Bank,
N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and the other
parties in the capacities herein identified.

 

RECITALS

 

WHEREAS, the Borrower,
the Lenders, the Administrative Agent and certain other Persons are parties to the First Lien Exit Credit Agreement, dated as of
December 30, 2016, (as amended, supplemented, amended and restated or otherwise modified from time to time, the “First
Lien Credit Agreement”);

 

WHEREAS, effective February
7, 2017, the Borrower has changed its fiscal year to the year ending December 31;

 

WHEREAS, the Borrower
requests certain amendments to the First Lien Credit Agreement upon the terms set forth in this Amendment;

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants, representations and warranties contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

AGREEMENT

 

Section 1.           Definitions.
Capitalized terms used herein (including in the Recitals hereto) but not defined herein shall have the meanings as given them in
the First Lien Credit Agreement, unless the context otherwise requires.

 

Section 2.            Certain
Amendments.

 

(a)          Section 1.1
of the First Lien Credit Agreement is hereby amended by:

 

(i)          amending
and restating the definition of “Fiscal Year” in its entirety to the following:

 

“Fiscal
Year” means any period of twelve consecutive calendar months ending on December 31; references to a Fiscal Year
with a number corresponding to any calendar year (e.g., the “2017 Fiscal Year”) refer to the Fiscal Year
ending on December 31 of such calendar year.

 

     

     

    

 

(ii)         amending
the second sentence of the definition “PV9% Value” by replacing the phrase “Secured Parties” with the word
“Lenders”;

 

(iii)        by
amending the definition of “Reserve Report” by changing “December 31st” to “January 1st”
and changing “June 30th” to “July 1st”.

 

(b)          Section 2
of the Credit Agreement is hereby amended by amending and restating Sections 2.8.2 and 2.8.3 of the First Lien Credit Agreement
in their entirety to the following:

 

Section 2.8.2       Annual
Scheduled Determinations of the Borrowing Base.

 

(a)          Promptly
after January 1 of each calendar year, (whether before or after the Borrowing Base Initiation Date) commencing January 1,
2017, and in any event prior to March 1 (or, in the case of the January 1, 2017 Reserve Report only, prior to May 31, 2017),
the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report in form and substance reasonably satisfactory
to the Administrative Agent, prepared by an Approved Engineer, which Reserve Report shall be dated as of January 1 of such
calendar year and shall set forth the proven and producing oil and gas reserves attributable to the Oil and Gas Properties owned
directly by the Borrower and the Subsidiary Guarantors and a projection of the rate of production and future net income, taxes,
operating expenses and capital expenditures with respect thereto as of such date, based on pricing assumptions consistent with
SEC reporting requirements at the time, together with additional data concerning pricing, hedging, quantities and purchasers of
production, and other information and engineering and geological data as the Administrative Agent or any Lender may reasonably
request.

 

(b)          If
such January 1 of any calendar year is on or after the Borrowing Base Initiation Date, within fifteen (15) days after receipt
of such Reserve Report and all such information, the Administrative Agent shall make an initial determination of a Borrowing Base,
and upon such initial determination shall promptly notify the Lenders in writing of its initial determination of the proposed Borrowing
Base. Such initial determination made by the Administrative Agent shall be so made by the Administrative Agent in the exercise
of its sole discretion in accordance with the Administrative Agent’s customary practices and standards for oil and gas lending
as they exist at the particular time. In no event shall the Proposed Borrowing Base exceed the sum of (x) the aggregate of the
Revolving Loan Commitments of the Lenders plus (y) the aggregate outstanding principal amount of the Term Loans. After having received
notice of such proposal by the Administrative Agent, each Lender shall have fifteen (15) days to approve or disapprove such proposal.
If, at the end of such fifteen (15) days, any Lender has not communicated to the Administrative Agent its approval or disapproval,
such failure to respond shall be deemed to be an approval of the new or reaffirmed Borrowing Base proposed by the Administrative
Agent. If the Required Borrowing Base Lenders fail to approve on any such determination of the proposed Borrowing Base made by
the Administrative Agent hereunder in such fifteen (15) day period, then the Administrative Agent shall poll the Lenders to ascertain
the highest Borrowing Base then acceptable to the Required Borrowing Base Lenders for purposes of this Section 2.8.2 (it being
understood that each Lender is deemed to have agreed to any and all Borrowing Base amounts that are lower than the amount actually
approved to by such Lender) and, subject to the last sentence of this Section 2.8.2, such amount shall become the new Borrowing
Base effective on the date specified in this Section 2.8. Upon agreement by the Administrative Agent and the Required Borrowing
Base Lenders of the Borrowing Base, the Administrative Agent shall, by written notice to the Borrower and the Lenders, designate
the Borrowing Base available to the Borrower. Such designation shall be effective as of the Business Day specified in such written
notice (or, if no effective date is specified in such written notice, the next Business Day following delivery of such written
notice) and such Borrowing Base shall remain in effect until the next determination or redetermination or adjustment of the Borrowing
Base in accordance with this Agreement. Anything herein contained to the contrary notwithstanding, any determination or redetermination
of the Borrowing Base resulting in any increase of the Borrowing Base in effect immediately prior to such determination or redetermination
shall require the approval of the Required Borrowing Base Lenders in their sole discretion in accordance with their respective
customary practices and standards for oil and gas lending as they exist at the particular time.

 

    	 	-2-	- EXXI Amendment-

     

    

 

Section 2.8.3         Semi-Annual
Scheduled Determination of the Borrowing Base.

 

(a)          Promptly
after July 1 of each calendar year, commencing July 1, 2017, and in any event prior to September 1 of each calendar
year, (whether before or after the Borrowing Base Initiation Date) the Borrower will make available for review by the Administrative
Agent a Reserve Report in form and substance reasonably satisfactory to the Administrative Agent, prepared by the Borrower’s
petroleum engineers, which report shall be dated as of July 1 of such calendar year and shall set forth the proven and producing
oil and gas reserves attributable to the Oil and Gas Properties owned directly by the Borrower and the Subsidiary Guarantors and
a projection of the rate of production and future net income, taxes, operating expenses and capital expenditures with respect thereto
as of such date, based on pricing assumptions consistent with SEC reporting requirements at the time, together with additional
data concerning pricing, hedging, quantities and purchasers of production, and other information and engineering and geological
data as the Administrative Agent or any Lender may reasonably request.

 

(b)          If
such July 1 of any calendar year is on or after the Borrowing Base Initiation Date, within fifteen (15) days after receipt
of such Reserve Report and all such information the Administrative Agent shall make an initial determination of a Proposed Borrowing
Base, and upon such initial determination shall promptly notify the Lenders in writing of initial determination of the proposed
Borrowing Base. Such initial determination shall be made in the same manner and be subject to the same approvals as prescribed
above with respect to the annual review, and likewise the Administrative Agent shall communicate the results of such initial determination
to the Lenders. After having received notice of such proposal by the Administrative Agent, each Lender shall have fifteen (15)
days to approve or disapprove such proposal. If, at the end of such fifteen (15) days, any Lender has not communicated to the Administrative
Agent its approval or disapproval, such failure to respond shall be deemed to be an approval of the new or reaffirmed Borrowing
Base proposed by the Administrative Agent. If the Required Borrowing Base Lenders fail to approve any such determination of the
proposed Borrowing Base made by the Administrative Agent hereunder in such fifteen (15) day period, then the Administrative Agent
shall poll the Lenders to ascertain the highest proposed Borrowing Base then acceptable to the Required Borrowing Base Lenders
for purposes of this Section 2.8.3 (it being understood that each Lender is deemed to have agreed to any and all Borrowing Base
amounts that are lower than the amount actually approved to by such Lender) and, subject to the last sentence of this Section 2.8.3,
such amount shall become the new Borrowing Base, effective on the date specified in this Section 2.8. Upon agreement by the
Administrative Agent and the Required Borrowing Base Lenders of the amount of credit to be made available to the Borrower hereunder,
the Administrative Agent shall, by written notice to the Borrower and the Lenders, designate the new Borrowing Base available to
the Borrower. Such designation shall be effective as of the Business Day specified in such written notice (or, if no effective
date is specified in such written notice, the next Business Day following delivery of such written notice) and such new Borrowing
Base shall remain in effect until the next determination or redetermination or adjustment of the Borrowing Base in accordance with
this Agreement. Anything herein contained to the contrary notwithstanding, any determination or redetermination of the Borrowing
Base resulting in any increase of the Borrowing Base in effect immediately prior to such determination or redetermination shall
require the approval of the Required Borrowing Base Lenders in their sole discretion in accordance with their respective customary
practices and standards for oil and gas lending as they exist at the particular time.

 

    	 	-3-	- EXXI Amendment-

     

    

 

(c)          Section 7
of the First Lien Credit Agreement is hereby amended by:

 

(i)          amending
and restating Sections 7.1.1(a) and (b) in their entirety to the following:

 

(a)          as
soon as available and in any event within 60 days after the end of each of the first three Fiscal Quarters of each Fiscal Year
(for the avoidance of doubt, including for the fiscal quarter ending March 31, 2017), an unaudited consolidated balance
sheet of the Borrower and its Subsidiaries as of the end of such Fiscal Quarter and consolidated statements of income and cash
flow of the Borrower and its Subsidiaries for such Fiscal Quarter and for the period commencing at the end of the previous Fiscal
Year and ending with the end of such Fiscal Quarter, and including (in each case), in comparative form the figures for the corresponding
Fiscal Quarter in, and year to date portion of, the immediately preceding Fiscal Year, in each case, certified as complete and
correct by the chief financial or accounting Authorized Officer of the Borrower (subject to normal year-end audit adjustments);

 

(b)          as
soon as available and in any event within 120 days after the end of each Fiscal Year (for the avoidance of doubt, including for
the partial Fiscal Year ending December 31, 2016), a copy of the consolidated balance sheet of the Borrower and its Subsidiaries,
and the related consolidated statements of income and cash flow of the Borrower and its Subsidiaries for such Fiscal Year, setting
forth in comparative form the figures for the immediately preceding Fiscal Year, audited (without any Impermissible Qualification)
by independent public accountants reasonably acceptable to the Administrative Agent, that shall include a calculation of the financial
covenants set forth in Section 7.2.4 and stating that, in performing the examination necessary to deliver the audited financial
statements of the Borrower, no knowledge was obtained of any Event of Default;

 

    	 	-4-	- EXXI Amendment-

     

    

 

(ii)         amending
the date “September 30, 2017” in Section 7.1.1(c) to the date “March 31, 2018”;

 

(iii)        amending
and restating clauses (vi) and (vii) of Section 7.1.1(m) in their entirety to the following:

 

(vi)        Oil
and Gas Properties of the Borrower and the Subsidiary Guarantors that comprise at least ninety percent (90%) of the PV9% Value
of the Proved Reserves of the Borrower and the Subsidiary Guarantors that are included within the Covered Properties are part of
the Mortgaged Properties (calculated without giving effect to any Hedge Agreements other than Hedge Agreements with a Lender as
the Borrower’s counterparty) and (vii) Oil and Gas Properties of the Borrower and the Subsidiary Guarantors that comprise
at least ninety percent (90%) of the PV9% Value of the Proved Developed Producing Reserves of the Borrower and the Subsidiary Guarantors
are included within the Covered Properties are part of the Mortgaged Properties.

 

(iv)        amending
and restating clause (ii) of Section 7.1.1(s) in its entirety to the following:

 

(ii)         within
five days after any execution of any new Hedging Agreements or the entering into of any transaction under any Hedging Agreement
or any assignment, termination or unwinding of any transaction under any existing Hedging Agreements, notice thereof to the Administrative
Agent, which notice shall be in form and substance and with details reasonably acceptable to the Administrative Agent;

 

(v)         amending
and restating the first sentence of Section 7.1.11 in its entirety to the following:

 

The Borrower
shall cause the Mortgaged Properties to constitute at least ninety percent (90%) of the PV9% Value of the Proved Reserves of the
Borrower and the Subsidiary Guarantors and at least ninety percent (90%) of the total value of the Proved Developed Producing Reserves
of the Borrower and the Subsidiary Guarantors (in this Section called the “Required Percentages”).

 

(vi)        amending
Section 7.1.13 by replacing the phrase “the total value” by the phrase “PV9% Value” in each place where
such phrase appears.

 

Section 3.           Conditions
to Effectiveness and Certain Agreements. This Amendment shall be deemed effective (subject to the conditions herein contained)
as of the Amendment Effective Date when the Administrative Agent has received counterparts hereof duly executed by the Borrower,
the Administrative Agent and the Required Lenders and upon the prior or concurrent satisfaction of each of the following conditions:

 

    	 	-5-	- EXXI Amendment-

     

    

 

(a)          the
Administrative Agent shall have received for its own account, if then invoiced, any amounts payable pursuant to Section 10.3
of the First Lien Credit Agreement;

 

(b)          the
Borrower shall have represented and warranted that the representations and warranties in Section 4 below are true and correct;

 

(c)          no
Borrowing Base Deficiency, Default or Event of Default shall have occurred and be continuing;

 

(d)          The
Administrative Agent shall have received a certificate, dated as of the Amendment Effective Date, duly executed by the relevant
Obligor’s Secretary or Assistant Secretary, managing member or general partner, as applicable, as to:

 

(i)          resolutions
of the Borrower’s Board of Directors then in full force and effect authorizing the Borrower to change its fiscal year; and

 

(ii)         the
incumbency and signatures of those of its of its officers, managers, managing member or general partner (or officers or managers
of its managing member or general partner), as applicable, authorized to act with respect to each Loan Document to be executed
by such Obligor.

 

Delivery by the Borrower
of an executed counterpart of this Amendment to the Administrative Agent shall constitute a representation and warranty by the
Borrower that the statements in the foregoing clauses (a), (b), (c) and (d) are true and correct.

 

Section 4.          Representations
and Warranties. The Borrower hereby represents and warrants that after giving effect hereto:

 

(a)          the
representations and warranties of the Obligors contained in the Loan Documents are true and correct in all material respects, other
than those representations and warranties that expressly relate solely to a specific earlier date, which shall remain correct in
all material respects as of such earlier date (except for any such representations and warranties which are qualified by a materiality
qualifier which shall be true and correct in all respects); provided that notwithstanding the foregoing, the Borrower makes no
representation in respect of Section 6.6 or Section 6.18 of the First Lien Credit Agreement;

 

(b)          except
to the extent waived in this Amendment, the Borrower performed and complied with all agreements and conditions contained in the
First Lien Credit Agreement required to be performed or complied with by it prior to or as of the Amendment Effective Date;

 

(c)          the
execution, delivery and performance by the Borrower and each other Obligor of this Amendment and the other Loan Documents have
been duly authorized by all necessary corporate or other action required on their part and this Amendment, along with the First
Lien Credit Agreement and the other Loan Documents, constitutes the legal, valid and binding obligation of each Obligor a party
thereto enforceable against them in accordance with its terms, except as its enforceability may be affected by the effect of bankruptcy,
insolvency, reorganization, moratorium or other similar laws now or hereafter in effect relating to or affecting the rights or
remedies of creditors generally;

 

    	 	-6-	- EXXI Amendment-

     

    

 

(d)          neither
the execution, delivery and performance of this Amendment by the Borrower, the performance by it of the First Lien Credit Agreement
as amended hereby nor the consummation of the transactions contemplated hereby does or shall contravene, result in a breach of,
or violate (i) any provision of any Obligor’s certificate or articles of incorporation or bylaws or other similar documents,
or agreements, (ii) any law or regulation, or any order or decree of any court or government instrumentality, or (iii) any
indenture, mortgage, deed of trust, lease, agreement or other instrument to which any Obligor or any of its Subsidiaries is a party
or by which any Obligor or any of its Subsidiaries or any of their property is bound, except in any such case to the extent such
conflict or breach has been waived by a written waiver document, a copy of which has been delivered to Administrative Agent on
or before the date hereof;

 

(e)          no
Material Adverse Effect has occurred since December 31, 2016, except any Material Adverse Effect as a direct result of the
decline in the price of hydrocarbons;

 

(f)          no
Default or Event of Default or Borrowing Base Deficiency has occurred and is continuing; and

 

Section 5.          Loan
Document; Ratification.

 

(a)          This
Amendment is a Loan Document.

 

(b)          The
Borrower and each other Obligor hereby ratifies, approves and confirms in every respect all the terms, provisions, conditions and
obligations of the First Lien Credit Agreement as amended or modified hereby and each of the other Loan Documents including without
limitation all Mortgages, Security Agreements, Guaranties, Control Agreements and other Security Documents, to which it is a party.

 

Section 6.          Costs
and Expenses. As provided in Section 10.3 of the First Lien Credit Agreement, the Borrower agrees to reimburse Administrative
Agent for all fees, costs, and expenses, including the reasonable fees, costs, and expenses of counsel or other advisors for advice,
assistance, or other representation, in connection with this Amendment and any other agreements, documents, instruments, releases,
terminations or other collateral instruments delivered by the Administrative Agent in connection with this Amendment.

 

Section 7.          GOVERNING
LAW. THIS AMENDMENT SHALL BE DEEMED A CONTRACT AND INSTRUMENT MADE UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL BE CONSTRUED
AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK AND THE LAWS OF THE UNITED STATES OF AMERICA,
WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

 

Section 8.          Severability.
Any provision of this Amendment that is prohibited or unenforceable in any jurisdiction shall, as to such provision and such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Amendment
or affecting the validity or enforceability of such provision in any other jurisdiction.

 

Section 9.          Counterparts.
This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument,
and any party hereto may execute this Amendment by signing one or more counterparts. Any signature hereto delivered by a party
by facsimile or electronic transmission shall be deemed to be an original signature hereto.

 

    	 	-7-	- EXXI Amendment-

     

    

 

Section 10.        No
Waiver or Agreement. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any default
of the Borrower or any other Obligor or any right, power or remedy of the Administrative Agent or the other Secured Parties under
any of the Loan Documents, nor constitute a waiver of (or consent to departure from) any terms, provisions, covenants, warranties
or agreements of any of the Loan Documents. The parties hereto reserve the right to exercise any rights and remedies available
to them in connection with any present or future defaults with respect to the First Lien Credit Agreement or any other provision
of any Loan Document.

 

Section 11.        Release.
Borrower, for itself and on behalf of its Subsidiaries and Affiliates and its and their predecessors, successors and assigns, each
do hereby forever release, discharge and acquit the Administrative Agent, each Issuer, each Lender and each other Secured Party
and each of their successors, assignees, participants, officers, directors, members, affiliates, advisors, internal and external
attorneys, agents and employees (the “Releasees”), from any and all duties, liabilities, obligations, claims
(including claims of usury), demands, accounts, suits, controversies and actions that they at any time had or have or that its
successors and assigns hereafter may have, whether known or unknown, against any Releasee (collectively, the “Released
Claims”) that arise under, or in connection with, or that otherwise relate, directly or indirectly, to the First Lien
Credit Agreement, any other Loan Document, any Hedging Agreement, any Bank Product Agreement or any related document, or to any
acts or omissions of any such Releasee in connection with any of the foregoing. As to each and every claim released hereunder,
Borrower hereby represents that it has received the advice of legal counsel with regard to the releases contained herein and are
freely and voluntarily entering into this Amendment. Borrower, for itself and on behalf of its Subsidiaries and Affiliates and
its and their predecessors, successors and assigns, does hereby forever covenant not to assert (and not to assist or enable any
other Person to assert) any Released Claim against any Releasee.

 

Section 12.        Successors
and Assigns. This Amendment shall be binding upon the Borrower, EPL and their respective successors and permitted assigns and
shall inure, together with all rights and remedies of each Secured Party hereunder, to the benefit of each Secured Party and the
respective successors, transferees and assigns.

 

Section 13.        Entire
Agreement. THIS AMENDMENT, THE FIRST LIEN CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT OF THE
PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES.

 

THERE ARE NO UNWRITTEN
ORAL AGREEMENTS BETWEEN THE PARTIES.

 

    	 	-8-	- EXXI Amendment-

     

    

 

(Signature Pages Follow)

 

    	 	-9-	- EXXI Amendment-

     

    

 

In Witness Whereof, the
parties hereto have caused this Amendment to be duly executed and delivered by their respective duly authorized officers as of
the date first written above.

 

	 	ENERGY XXI GULF COAST, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name: Glen Priestley
	 	 	Title: Vice President, Treasury

 

    	 	S-1	Amendment Signature Page

     

    

 

	 	Wells Fargo Bank, N.A., as the Administrative Agent, an Issuer and a Lender
	 	 	 
	 	 	 
	 	By:	/s/ Catherine Cook
	 	 	Name:  Catherine Cook
	 	 	Title:  Director

 

    	 	S-2	Amendment Signature Page

     

    

 

	 	ZB, N.A. DBA AMEGY BANK, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Sam Trail
	 	 	Name: Sam Trail
	 	 	Title: Senior Vice President

 

    	 	S-3	Amendment Signature Page

     

    

 

	 	THE BANK OF NOVA SCOTIA, as Lender
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	S-4	Amendment Signature Page

     

    

 

	 	TORONTO DOMINION (TEXAS) LLC, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Annie Dorval
	 	 	Name: Annie Dorval
	 	 	Title: Authorized Signatory

 

    	 	S-5	Amendment Signature Page

     

    

 

	 	CAPITAL ONE, NATIONAL ASSOCIATION, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Matthew Molero
	 	 	Name: Matthew Molero
	 	 	Title: Senior Vice President

 

    	 	S-6	Amendment Signature Page

     

    

 

	 	NATIXIS, New York Branch, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Brice Le Foyer
	 	 	Name: Brice Le Foyer
	 	 	Title: Director
	 	 	 
	 	 	 
	 	By:	/s/ Ajay Prakash
	 	 	Name: Ajay Prakash
	 	 	Title: Vice President

 

    	 	S-7	Amendment Signature Page

     

    

 

	 	BARCLAYS BANK PLC, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Christopher Aitkin
	 	 	Name: Christopher Aitkin
	 	 	Title: Assistant Vice President

 

    	 	S-8	Amendment Signature Page

     

    

 

	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Bryan Matthews
	 	 	Name: Bryan Matthews
	 	 	Title: Authorized Signatory
	 	 	 
	 	 	 
	 	By:	/s/ Julia Bykhovskaia
	 	 	Name: Julia Bykhovskaia
	 	 	Title: Authorized Signatory

 

    	 	S-9	Amendment Signature Page

     

    

 

	 	ING CAPITAL LLC, as Lender
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	S-10	Amendment Signature Page

     

    

 

	 	REGIONS BANK, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ J. Richard Baker
	 	 	Name: J. Richard Baker
	 	 	Title: Senior Vice President

 

    	 	S-11	Amendment Signature Page

     

    

 

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

 

    	 	S-12	Amendment Signature Page

     

    

 

	 	UBS AG, STAMFORD BRANCH, as Issuer and Lender
	 	 	 
	 	 	 
	 	By:	/s/ Houssem Daly
	 	 	Name: Houssem Daly
	 	 	Title: Associate Director
	 	 	 
	 	 	 
	 	By:	/s/ Darlene Arias
	 	 	Name: Darlene Arias
	 	 	Title: Director

 

    	 	S-13	Amendment Signature Page

     

    

 

	 	DEUTSCHE BANK AG NEW YORK BRANCH, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Anca Trifan
	 	 	Name: Anca Trifan
	 	 	Title: Managing Director
	 	 	 
	 	 	 
	 	By:	/s/ Peter Cucchiara
	 	 	Name: Peter Cucchiara
	 	 	Title: Vice President

 

    	 	S-14	Amendment Signature Page

     

    

 

	 	COMMONWEALTH BANK OF AUSTRALIA, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Sanjay Remond
	 	 	Name: Sanjay Remond
	 	 	Title: Director

 

    	 	S-15	Amendment Signature Page

     

    

 

	 	COMERICA BANK, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Gary Culbertson
	 	 	Name: Gary Culbertson
	 	 	Title: Vice President

 

    	 	S-16	Amendment Signature Page

     

    

 

	 	FIFTH THIRD BANK, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ David R. Garcia
	 	 	Name: David R. Garcia
	 	 	Title: Vice President

 

    	 	S-17	Amendment Signature Page

     

    

 

	 	ABN AMRO CAPITAL USA LLC, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Richard Klompjan
	 	 	Name: Richard Klompjan
	 	 	Title: Executive Director
	 	 	 
	 	 	 
	 	By:	/s/ Urvashi Zutshi
	 	 	Name: Urvashi Zutshi
	 	 	Title: Managing Director

 

    	 	S-18	Amendment Signature Page

     

    

 

	 	SUMITOMO MITSUI BANKING CORPORATION, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Ryo Suzuki
	 	 	Name: Ryo Suzuki
	 	 	Title: General Manager

 

    	 	S-19	Amendment Signature Page

     

    

 

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

 

    	 	S-20	Amendment Signature Page

     

    

 

	 	SANTANDER BANK, N.A., as Lender
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	S-21	Amendment Signature Page

     

    

 

	 	WHITNEY BANK, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Liana Tchernysheva
	 	 	Name: Liana Tchernysheva
	 	 	Title: Senior Vice President

 

    	 	S-22	Amendment Signature Page

     

    

 

	 	CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Eric J. De Santis
	 	 	Name: Eric J. De Santis
	 	 	Title: Executive Director

 

    	 	S-23	Amendment Signature Page

     

    

 

	 	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Kathleen Sweeney
	 	 	Name: Kathleen Sweeney
	 	 	Title: Managing Director
	 	 	 
	 	 	 
	 	By:	/s/ Ronald Spitzer
	 	 	Name: Ronald Spitzer
	 	 	Title: Managing Director

 

    	 	S-24	Amendment Signature Page

     

    

 

	 	IBERIABANK, as Lender
	 	 	 
	 	 	 
	 	By:	/s/ Moni Collins
	 	 	Name: Moni Collins
	 	 	Title: Senior Vice President

 

    	 	S-25	Amendment Signature Page

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION, as Lender
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	S-26	Amendment Signature Page

     

    

 

[This page intentionally blank]

 

    	 	S-27	Amendment Signature Page

     

    

 

	 	ACKNOWLEDGED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN:
	 	 	 
	 	ENERGY XXI GOM, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	ENERGY XXI TEXAS ONSHORE, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	ENERGY XXI ONSHORE, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	ENERGY XXI PIPELINE, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	ENERGY XXI LEASEHOLD, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  

 

    	 	S-28	Amendment Signature Page

     

    

 

	 	ENERGY XXI PIPELINE II, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	MS ONSHORE, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer
	 	 	 
	 	EPL OIL & GAS, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	EPL PIPELINE, L.L.C.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	NIGHTHAWK, L.L.C.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	EPL OF LOUISIANA, L.L.C.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  

 

    	 	S-29	Amendment Signature Page

     

    

 

	 	DELAWARE EPL OF TEXAS, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	ANGLO-SUISSE OFFSHORE PIPELINE PARTNERS, LLC
	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	EPL PIONEER HOUSTON, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	ENERGY PARTNERS, LTD., LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	M21K, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  

 

    	 	S-30	Amendment Signature Page

     

    

 

	 	SOILEAU CATERING, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer  
	 	 	 
	 	ENERGY XXI INSURANCE LIMITED
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer
	 	 	 
	 	ENERGY XXI OFFSHORE SERVICES, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer
	 	 	 
	 	ENERGY XXI NATURAL GAS HOLDINGS, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer
	 	 	 
	 	ENERGY XXI SERVICES, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer

 

    	 	S-31	Amendment Signature Page

     

    

 

	 	ENERGY XXI HOLDINGS, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer
	 	 	 
	 	ENERGY XXI GIGS SERVICES, LLC
	 	 	 
	 	 	 
	 	By:	/s/ Glen Priestley
	 	 	Name:  Glen Priestley
	 	 	Title: Treasurer

 

    	 	S-32	Amendment Signature Page

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