Document:

EX-10.7

 Exhibit 10.7 

Execution Version 

AGREEMENT AND PLAN OF MERGER 

Merging 
 MEMORIAL
RESOURCE DEVELOPMENT LLC, a Delaware limited liability company, 
 With and Into 

MRD OPERATING LLC, a Delaware limited liability company 

This Agreement and Plan of Merger (the “Agreement”) is entered into as of June 18, 2014, by and between
MEMORIAL RESOURCE DEVELOPMENT LLC, a Delaware limited liability company (“MRD”), and MRD OPERATING LLC, a Delaware limited liability company (“Operating”). 

WHEREAS, the sole member of each of MRD and Operating has determined that it is advisable and in the best interests of MRD and Operating,
respectively, that MRD merge with and into Operating (the “Merger”) pursuant to the provisions of Section 18-209 of the Delaware Limited Liability Company Act (the “Applicable Law”), that the
assets, debts, liabilities, obligations, restrictions, disabilities and duties of MRD and Operating be allocated hereunder as provided under the Applicable Law, and that Operating survive the merger, all upon the terms and subject to the conditions
of this Agreement. 
 NOW, THEREFORE, in consideration of the mutual benefits to be derived from this Agreement and the Merger, the parties
hereto agree as follows: 
 ARTICLE I 

THE MERGER 
 At the
Effective Time (as hereinafter defined), MRD shall be merged with and into Operating in accordance with the Applicable Law, and the separate existence of MRD shall cease and Operating shall thereafter continue as the surviving entity (the
“Surviving Entity”) under the laws of the State of Delaware. 
 ARTICLE II 

THE SURVIVING ENTITY 

A. At the Effective Time, the Certificate of Formation of Operating, as in effect immediately prior to the Effective Time, shall be the
Certificate of Formation of the Surviving Entity. 
 B. At the Effective Time, the Limited Liability Company Agreement of Operating, as in
effect immediately prior to the Effective Time, shall be the Limited Liability Company Agreement of the Surviving Entity. 
 C. At the
Effective Time, the officers of Operating shall be the officers of the Surviving Entity until their successors have been duly appointed or their earlier death, resignation or removal. 

 ARTICLE III 

MANNER AND BASIS OF CONVERTING INTERESTS 

The manner and basis of converting the ownership interests of MRD into membership interests, obligations or other securities of the Surviving
Entity or, in whole or in part, into cash or other property and the manner and basis of converting rights to acquire ownership interests of MRD into rights to acquire membership interests, obligations, or other securities of the Surviving Entity or,
in whole or in part, into cash or other property are as follows: 
 At the Effective Time, each ownership interest of MRD shall, by virtue
of the Merger and without any action on the part of the holder thereof, be automatically cancelled and retired, shall cease to exist and shall no longer be outstanding; and the holder of any such ownership interests, whether or not certificated,
shall cease to have any rights with respect thereto. 
 ARTICLE IV 

EFFECT OF MERGER 

At the Effective Time, all property (including, without limitation, the real, personal and intangible property), rights, privileges, powers
and franchises of MRD shall vest in the Surviving Entity, and all liabilities and obligations of MRD shall become liabilities and obligations of the Surviving Entity. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

A. MRD hereby warrants and represents that (i) it is a limited liability company duly organized, validly existing and in good standing
under Delaware law; (ii) it has all requisite power and authority to enter into this Agreement; and (iii) this Agreement has been duly executed and delivered by MRD and constitutes the valid and binding obligation of MRD enforceable
against it in accordance with the terms of this Agreement. 
 B. Operating hereby warrants and represents that: (i) it is a limited
liability company duly organized, validly existing and in good standing under Delaware law; (ii) it has all requisite power and authority to enter into this Agreement; and (iii) this Agreement has been duly executed and delivered by
Operating and constitutes the valid and binding obligation of Operating enforceable against it in accordance with the terms of this Agreement. 

  
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 ARTICLE VI 

ACKNOWLEDGEMENTS AND AGREEMENTS 

A. The parties hereto agree and acknowledge that prior to the Effective Date MRD shall have distributed to its sole member the following
assets (the “Distributions”): 
  

	 	(i)	All of the shares of common stock of Memorial Resource Development Corp. held by MRD; 

  

	 	(ii)	All of its interests in BlueStone Natural Resources Holdings, LLC and its assets; 

  

	 	(iii)	All of its interests in MRD Midstream LLC and its assets; 

  

	 	(iv)	All of its interests in MRD Royalty LLC and its assets; 

  

	 	(v)	All of its interests in Golden Energy Partners LLC and its assets; 

  

	 	(vi)	All of its interests in Classic Pipeline & Gathering, LLC and its assets; 

  

	 	(vii)	All of the subordinated units representing limited partner interests in Memorial Production Partners LP; 

  

	 	(viii)	All of its interests in the debt service reserve account relating to the 10.00%/10.75% Senior PIK Toggle Notes due 2018 (the “PIK Notes”) including any cash therein as of the date of such
distribution; and 

  

	 	(ix)	Approximately $6.7 million of cash. 

 B. The parties hereto further agree and acknowledge that
on the Effective Date the sole remaining assets of MRD shall consist of operating contracts to which MRD is party relating to the businesses of Operating and its affiliates (the “Contracts”). 

C. The parties hereto agree that from the date hereof through the Effective Date MRD shall administer and perform under the Contracts on
behalf of and for the benefit of Operating and its affiliates. 
 D. The parties hereto agree that (i) Operating shall be entitled to
all revenues, proceeds, income and products from or attributable to the Contracts to the extent accruing or accrued from and after the date hereof and (ii) Operating shall be responsible for all expenses, obligations and liabilities incurred
with respect to the Contracts to the extent accruing or accrued from and after the date hereof (and shall reimburse MRD for, or pay, all such expenses, obligations and liabilities). 

  
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 ARTICLE V 

CERTIFICATE AND CONDITIONS 

The parties hereto shall effect the Merger by filing with the Secretary of State of the State of Delaware a Certificate of Merger
substantially in the form of Exhibit A attached hereto (the “Certificate of Merger”). The Certificate of Merger shall be filed as promptly as reasonably practicable following the satisfaction of the following
conditions: 
  

	 	(i)	The Distributions shall have been completed; and 

  

	 	(ii)	The sole member of MRD shall have received documentation reasonably satisfactory to such sole member of MRD evidencing the full discharge of the indenture governing the PIK Notes. 

ARTICLE VI 
 EFFECTIVE
TIME 
 As used in this Agreement, the term “Effective Time” shall mean the date that the Certificate of
Merger is filed with the Delaware Secretary of State. 
 [signature page follows] 

  
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 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its behalf as
of the date first set forth above. 
  

			
	MEMORIAL RESOURCE DEVELOPMENT LLC
		
	By:	 	MRD Holdco LLC, its sole member
		
	By:	 	 /s/ Kyle N. Roane

		 	Kyle N. Roane
		 	Vice President & General Counsel
	
	MRD OPERATING LLC
		
	By:	 	Memorial Resource Development Corp., its sole member
		
	By:	 	 /s/ Kyle N. Roane

		 	Kyle N. Roane
		 	Vice President & General Counsel

 Agreement and Plan of Merger 

 Exhibit A 

CERTIFICATE OF MERGER 

OF 
 MRD OPERATING LLC

 Pursuant to Section 18-209 of the Delaware Limited Liability Act, the undersigned limited liability company hereby certifies
that: 
 FIRST: The name and jurisdiction of formation of each of the entities party to the merger are: 

 

			
	 Name of Entity
	  	 State of Formation and Type of Entity

	Memorial Resource Development LLC	  	Delaware limited liability company
		
	MRD Operating LLC	  	Delaware limited liability company

 SECOND: An agreement and plan of merger has been approved and executed by each of the entities party to
the merger in accordance with the requirements of Section 18-209 of the Delaware Limited Liability Company Act. 
 THIRD: The
name of the surviving limited liability company is “MRD Operating LLC,” a Delaware limited liability company. 
 FOURTH: The
Certificate of Formation of MRD Operating LLC shall be the Certificate of Formation of the surviving limited liability company. 

FIFTH: The merger is to become effective on the date this certificate is filed with the Secretary of State of the State of Delaware.

 SIXTH: The executed agreement and plan of merger is on file at 1301 McKinney Street, Suite 2100, Houston, Texas 77010, the
address of the principal place of business of the surviving limited liability company. 
 SEVENTH: A copy of the agreement and plan of
merger will be furnished by the surviving limited liability company, on request and without cost, to any member or any person holding an interest in any other entity party to the merger. 

IN WITNESS WHEREOF, MRD Operating LLC has caused this certificate to be signed by an authorized officer on June 18, 2014. 

 

			
	MRD OPERATING LLC
		
	By:	 	Memorial Resource Development Corp., its sole member
		
	By:EX-10.8

 Exhibit 10.8 

Execution Version 

PURCHASE AGREEMENT AND ASSIGNMENT 

This Purchase Agreement and Assignment (this “Agreement”) is made effective as of June 18, 2014, by and between
WildHorse Resources, LLC, a Delaware limited liability company (“Seller”), and WildHorse Resources II, LLC, a Delaware limited liability company (“Purchaser”). 

WHEREAS, Seller owns all of the issued and outstanding membership interests in WildHorse Resources Management Company, LLC, a Delaware limited
liability company (the “Company”); 
 WHEREAS, the Purchaser desires to purchase from Seller, and Seller desires to sell to
Purchaser, all of Seller’s membership interest in the Company (the “Interest”), subject to the terms and conditions of this Agreement; and 

WHEREAS, each of the parties hereto is making certain representations, warranties and covenants herein to induce the other to enter into this
Agreement. 
 NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereby agree as follows: 
 ARTICLE 1. 

PURCHASE OF THE INTEREST 

1.1 Sale of the Interest. Subject to the terms and conditions of this Agreement, Seller hereby SELLS, CONVEYS, TRANSFERS,
ASSIGNS AND DELIVERS unto Purchaser and its respective successors and assigns, all right, title and interest in and to the Interest free and clear of any title defects, charges, liens, mortgages, pledges, claims, security interests, options,
restrictions, and other encumbrances of every type and description, whether imposed by law, agreement, understanding or otherwise (“Encumbrances”) and no further written agreement, assignment, conveyance or assumption instrument is
needed to effect the transfer contemplated hereby.  
 1.2 Purchase Price. As full consideration for the Interest,
Purchaser has contemporaneously with the execution and delivery of this Agreement delivered to Seller the sum of $231,000 in cash or other immediately available funds.  

ARTICLE 2. 

REPRESENTATIONS AND WARRANTIES OF SELLER 

In order to induce Purchaser to enter into this Agreement and to purchase the Interest, Seller hereby makes the following representations and
warranties to Purchaser: 
 2.1 Ownership. Seller has good and valid title to the Interest, and is assigning the Interest free
and clear of all Encumbrances.  

 2.2 Authority. Seller is competent, under no duress or legal restraint, and has all
necessary authority to enter this Agreement, perform such obligations hereunder and consummate the transactions contemplated hereby and that this Agreement has been duly and validly executed and delivered by Seller, and constitutes the legal, valid
and binding agreement of Seller, enforceable against Seller in accordance with its terms except as (a) the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium, liquidation, rearrangement, fraudulent
transfer, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (b) the availability of equitable remedies may be limited by equitable principles of general applicability. 

2.3 Consents and Approvals. No consent, notice or approval of any third party is necessary in connection with Seller’s
execution and delivery of this Agreement or the consummation of the transactions contemplated hereby. 
 2.4 No Additional
Representations or Warranties. Seller is making no representations or warranties, express or implied, of any nature whatsoever except as specifically set forth in this Article 2.  

ARTICLE 3. 

REPRESENTATIONS AND WARRANTIES OF PURCHASER 

In order to induce Seller to enter into this Agreement and to sell, in the aggregate, the Interest, Purchaser hereby makes the following
representations and warranties to Seller: 
 3.1 Authority. Purchaser is competent, under no duress or legal restraint, and
has all necessary authority to enter into this Agreement, perform Purchaser’s obligations hereunder and consummate the transactions contemplated hereby. This Agreement has been duly and validly executed and delivered by Purchaser and
constitutes the legal, valid and binding agreement of Purchaser, enforceable against Purchaser in accordance with its terms except as (a) the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium, liquidation,
rearrangement, fraudulent transfer, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (b) the availability of equitable remedies may be limited by equitable principles of general applicability.

 3.2 Consents and Approvals. No consent, notice or approval of any third party is necessary in connection with
Purchaser’s execution and delivery of this Agreement or the consummation of the transactions contemplated hereby. 
 3.3
No Additional Representations or Warranties. Such Purchaser is making no representations or warranties, express or implied, of any nature whatsoever except as specifically set forth in this Article 3.  

  
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 ARTICLE 4. 

MISCELLANEOUS 
 4.1
Expenses. Purchaser and Seller shall each pay their own expenses incurred in connection with this Agreement, including attorneys’ fees. Each party hereto is responsible for and is relying solely on its own business, legal, accounting and
tax advice in connection with this Agreement and the transactions contemplated hereby. 
 4.2 Taxes. The Seller shall
pay all federal, state or local taxes, or other governmental fees or charges due and payable as a result of this sale.  
 4.3
Indemnification by Seller. Subject to the terms, conditions and limitations set forth in this Agreement, SELLER SHALL INDEMNIFY AND HOLD HARMLESS PURCHASER AND ITS AFFILIATES FROM ANY CLAIM, ACTION, DEMAND, LOSS, COST, EXPENSE, LIABILITY,
PENALTY, AND OTHER DAMAGE, INCLUDING WITHOUT LIMITATION, ATTORNEYS’ FEES AND OTHER COSTS AND EXPENSES REASONABLY INCURRED IN INVESTIGATING, AND ATTEMPTING TO AVOID, OR IN OPPOSING THE IMPOSITION THEREOF, RESULTING TO PURCHASER AND ITS
AFFILIATES FROM ANY INACCURATE REPRESENTATION OR WARRANTY MADE BY SELLER IN ARTICLE 2 OF THIS AGREEMENT. 
 4.4 Indemnification
and Release by Purchaser. 
 (a) Subject to the terms, conditions and limitations set forth in this Agreement, PURCHASER shall indemnify
and hold harmless SELLER AND ITS AFFILIATES from any claim, action, demand, loss, cost, expense, liability, penalty, and other damage, including without limitation, attorneys’ fees and other costs and expenses reasonably incurred in
investigating, and attempting to avoid, or in opposing the imposition thereof, resulting to SELLER or ITS AFFILIATES from any inaccurate representation or warranty made by purchaser in Article 3 of this Agreement. 

(b) PURCHASER (for itself and on behalf of the Company) does hereby finally, unconditionally, irrevocably, and absolutely release, acquit,
remise, and forever discharge the SELLER AND ITS AFFILIATES (the “Seller Group”) from and against any and all accounts, agreements, avoidance actions, bills, bonds, causes, causes of action, charges, claims, complaints, contracts,
controversies, costs, counterclaims, damages, debts, demands, equitable proceedings, executions, expenses, legal proceedings, liabilities, losses, matters, objections, obligations, orders, proceedings, reckonings, remedies, rights, setoffs, suits,
sums of money, of any kind, at common law, statutory or otherwise, whether known or unknown, whether matured or unmatured, whether absolute or contingent, whether direct or derivative, whether suspected or unsuspected, whether liquidated or
unliquidated (including breach of contract, breach of any special relationship, breach of duty of care, breach of duty of loyalty, breach of fiduciary duty, concealment, conflicts of interest, conspiracy, control, course of conduct or dealing, debt
recharacterization, deceit, deceptive trade practices, deepening insolvency, defamation, disclosure, duress, economic duress, equitable subordination, fraud, fraudulent conveyance, fraudulent transfer, fraudulent inducement, gross negligence,
insolvency law violations, interference with contractual and business relationships, misrepresentation, misuse of insider 

  
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information, negligence, breach of obligation of fair dealing, breach of obligation of good faith and fair dealing, breach of obligation of good faith, preference, secrecy, securities and
antitrust laws violations, substantive consolidation, tying arrangements, unconscionability, usury, violations of statutes and regulations of governmental entities, instrumentalities and agencies, wrongful recoupment or setoff, or any tort, whether
common law, statutory or in equity) (each, a “Claim,” and collectively, the “Claims”), that PURCHASER OR THE COMPANY has, may have had, may now have or may have in the future, directly, indirectly or derivatively,
against any member of the Seller Group, to the extent the same (i) relate to any actions, omissions, failure to take action, breaches, violations or similar event arising, occurring or accruing prior to and including the date hereof, including
as a result of, or in relation to, any negligence of any member of the Seller Group, and (ii) either (x) arise under or relate in any manner to any of the organizational or governing documents or other contracts, agreements or commitments
(whether in writing or orally) of the Company or any subsidiary or member thereof, (y) arise in connection with or are related in any manner to SELLER acting in its capacity as a member of the Company or any subsidiary thereof (whether such any
action is authorized, appropriate or in compliance with any law, rule or regulation) or (z) relate in any manner to any member of the Seller Group’s direct or indirect ownership in the Company or any subsidiary thereof, or any member of
the Seller Group’s debt or obligation owing to the Company or any subsidiary thereof prior to the date hereof, or any member of the Seller Group’s management, control or action taken on behalf of the Company or any subsidiary thereof prior
to the date hereof (whether authorized, appropriate or in compliance with any law, rule or regulation), excluding in all respects any actions, omissions, failure to take action, breaches, violations or similar event to the extent arising out of or
resulting from the gross negligence or willful misconduct of any member of the Seller Group. 
 4.5 Limitation of Liability.
NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT OR UNDER ANY LEGAL CONSTRUCT, NEITHER PARTY HERETO SHALL SEEK OR BE LIABLE FOR, IN ANY FORM OR AMOUNT, PUNITIVE, EXEMPLARY, CONSEQUENTIAL, INDIRECT, SPECIAL OR INCIDENTAL DAMAGES IN
CONNECTION WITH THIS AGREEMENT. 
 4.6 Amendment and Modification. This Agreement may be amended, modified or
supplemented only by the written agreement of the parties hereto. 
 4.7 Waiver of Compliance; Consents. Any failure of
any party to comply with any obligation, covenant, agreement or condition herein may be waived by each party affected thereby only by a written instrument signed by the party granting such waiver, but such waiver or failure to insist upon strict
compliance with such obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. Whenever this Agreement requires or permits consent by or on behalf of any party
hereto, such consent shall be given in writing. 
 4.8 Assignment. This Agreement and all of the provisions hereof
shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by Seller or Purchaser
without the prior written consent of the other party. 

  
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 4.9 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF TEXAS
(REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER APPLICABLE PRINCIPLES OF CONFLICTS OF LAW) AS TO ALL MATTERS, INCLUDING, BUT NOT LIMITED TO, MATTERS OF VALIDITY, CONSTRUCTION, EFFECT, PERFORMANCE AND REMEDIES. 

4.10 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. 
 4.11 No Third-Party Beneficiaries. No provision of this
Agreement is intended to confer upon any person other than the parties hereto any rights or remedies hereunder. 
 4.12
Interpretation. The article and section headings contained in this Agreement are solely for the purpose of reference, are not part of the agreement of the parties and shall not in any way affect the meaning or interpretation of this
Agreement. 
 4.13 Entire Agreement. This Agreement, including the documents, instruments and agreements referred to
herein, and the agreements and documents executed contemporaneously herewith embody the entire agreement and understanding of the parties hereto in respect of the subject matter hereof. There are no restrictions, promises, representations,
warranties, covenants or undertakings, other than those expressly set forth or referred to herein or therein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 

[Signature Page Follows] 

  
 5 

 IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of the date first
above written. 
  

			
	PURCHASER:
	
	WILDHORSE RESOURCES II, LLC
		
	By:	 	 /s/ Anthony Bahr

	Name:	 	 Anthony Bahr

	Title:	 	 Co-CEO

	
	SELLER:
	
	WILDHORSE RESOURCES, LLC
		
	By:	 	 /s/ Anthony Bahr

	Name:	 	 Anthony Bahr

	Title:	 	 CEO

 [Signature Page to WHR Purchase Agreement and Assignment]

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