Document:

EX-10.1

 Exhibit 10.1 
  

 
  

SECURED TERM LOAN AGREEMENT 

Dated as of 
 December 30,
2014 
 among 
 Resolute Energy
Corporation 
 as Borrower, 

Certain of its Subsidiaries, 
 as
Guarantors, 
 Bank of Montreal, 

as Administrative Agent, 
 and 

The Lenders Party Hereto 
  

 
 BMO Capital
Markets Corp 
 as Sole Lead Bookrunner and Sole Lead Arranger 

Barclays 
 and 

KeyBanc Capital Markets Inc. 
 as
Co-Syndication Agents 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  			
	DEFINITIONS AND ACCOUNTING MATTERS	  			
			
	Section 1.01	 	 Terms Defined Above
	  	 	1	  
	Section 1.02	 	 Certain Defined Terms
	  	 	1	  
	Section 1.03	 	 Types of Loans and Borrowings
	  	 	22	  
	Section 1.04	 	 Terms Generally; Rules of Construction
	  	 	22	  
	Section 1.05	 	 Accounting Terms and Determinations; GAAP
	  	 	23	  
		
	ARTICLE II	  			
	THE CREDITS	  			
			
	Section 2.01	 	 Commitments
	  	 	23	  
	Section 2.02	 	 Loans and Borrowings
	  	 	23	  
	Section 2.03	 	 Interest Elections
	  	 	24	  
	Section 2.04	 	 Funding of Borrowings
	  	 	25	  
	Section 2.05	 	 Termination of Commitments
	  	 	26	  
	Section 2.06	 	 Incremental Facility
	  	 	26	  
		
	ARTICLE III	  			
	PAYMENTS OF PRINCIPAL AND INTEREST; PREPAYMENTS; FEES	  			
			
	Section 3.01	 	 Repayment of Loans
	  	 	28	  
	Section 3.02	 	 Interest
	  	 	28	  
	Section 3.03	 	 Alternate Rate of Interest
	  	 	29	  
	Section 3.04	 	 Prepayments
	  	 	29	  
	Section 3.05	 	 Fees
	  	 	33	  
		
	ARTICLE IV	  			
	PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS	  			
			
	Section 4.01	 	 Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	  	 	33	  
	Section 4.02	 	 Presumption of Payment by the Borrower
	  	 	34	  
	Section 4.03	 	 Certain Deductions by the Administrative Agent
	  	 	34	  
	Section 4.04	 	 Disposition of Proceeds
	  	 	34	  
		
	ARTICLE V	  			
	INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES; ILLEGALITY	  			
			
	Section 5.01	 	 Increased Costs
	  	 	34	  
	Section 5.02	 	 Break Funding Payments
	  	 	35	  
	Section 5.03	 	 Taxes
	  	 	36	  
	Section 5.04	 	 Mitigation Obligations
	  	 	39	  
	Section 5.05	 	 Illegality
	  	 	40	  
		
	ARTICLE VI	  			
	CONDITIONS PRECEDENT	  			
			
	Section 6.01	 	 Effective Date
	  	 	40	  
		
	ARTICLE VII	  			
	REPRESENTATIONS AND WARRANTIES	  			
			
	Section 7.01	 	 Organization; Powers
	  	 	43	  
	Section 7.02	 	 Authority; Enforceability
	  	 	43	  

  
 i 

							
	Section 7.03	 	 Approvals; No Conflicts
	  	 	43	  
	Section 7.04	 	 Financial Condition; No Material Adverse Change
	  	 	44	  
	Section 7.05	 	 Litigation
	  	 	44	  
	Section 7.06	 	 Environmental Matters
	  	 	45	  
	Section 7.07	 	 Compliance with the Laws and Agreements; No Defaults
	  	 	46	  
	Section 7.08	 	 Investment Company Act
	  	 	46	  
	Section 7.09	 	 [Reserved]
	  	 	46	  
	Section 7.10	 	 Taxes
	  	 	46	  
	Section 7.11	 	 ERISA
	  	 	46	  
	Section 7.12	 	 Disclosure; No Material Misstatements
	  	 	47	  
	Section 7.13	 	 Insurance
	  	 	48	  
	Section 7.14	 	 Restriction on Liens
	  	 	48	  
	Section 7.15	 	 Subsidiaries
	  	 	48	  
	Section 7.16	 	 Location of Business and Offices
	  	 	48	  
	Section 7.17	 	 Properties; Titles, Etc
	  	 	48	  
	Section 7.18	 	 Maintenance of Properties
	  	 	49	  
	Section 7.19	 	 Gas Imbalances, Prepayments
	  	 	50	  
	Section 7.20	 	 Marketing of Production
	  	 	50	  
	Section 7.21	 	 Hedging Agreements
	  	 	50	  
	Section 7.22	 	 Use of Loans
	  	 	50	  
	Section 7.23	 	 Solvency
	  	 	50	  
	Section 7.24	 	 OFAC
	  	 	50	  
	Section 7.25	 	 Foreign Corrupt Practices
	  	 	51	  
		
	ARTICLE VIII	  			
	AFFIRMATIVE COVENANTS	  			
			
	Section 8.01	 	 Financial Statements; Other Information
	  	 	51	  
	Section 8.02	 	 Notices of Material Events
	  	 	55	  
	Section 8.03	 	 Existence; Conduct of Business
	  	 	55	  
	Section 8.04	 	 Payment of Obligations
	  	 	55	  
	Section 8.05	 	 Performance of Obligations under Loan Documents
	  	 	56	  
	Section 8.06	 	 Operation and Maintenance of Properties
	  	 	56	  
	Section 8.07	 	 Insurance
	  	 	56	  
	Section 8.08	 	 Books and Records; Inspection Rights
	  	 	56	  
	Section 8.09	 	 Compliance with Laws
	  	 	57	  
	Section 8.10	 	 Environmental Matters
	  	 	57	  
	Section 8.11	 	 Further Assurances
	  	 	58	  
	Section 8.12	 	 Reserve Reports
	  	 	58	  
	Section 8.13	 	 Title Information
	  	 	59	  
	Section 8.14	 	 Additional Collateral; Additional Guarantors
	  	 	59	  
	Section 8.15	 	 ERISA Compliance
	  	 	61	  
	Section 8.16	 	 Unrestricted Subsidiaries
	  	 	61	  
	Section 8.17	 	 Patriot Act
	  	 	61	  
		
	ARTICLE IX	  			
	NEGATIVE COVENANTS	  			
			
	Section 9.01	 	 Financial Covenants
	  	 	62	  
	Section 9.02	 	 Debt
	  	 	63	  
	Section 9.03	 	 Liens
	  	 	64	  
	Section 9.04	 	 Restricted Payments
	  	 	64	  
	Section 9.05	 	 Investments
	  	 	64	  

  
 ii 

							
	Section 9.06	 	Nature of Business; International Operations	  	 	66	  
	Section 9.07	 	 Limitation on Operating Leases
	  	 	66	  
	Section 9.08	 	 Proceeds of Loans
	  	 	66	  
	Section 9.09	 	 ERISA Compliance
	  	 	66	  
	Section 9.10	 	 Sale or Discount of Receivables
	  	 	67	  
	Section 9.11	 	 Mergers, Etc
	  	 	67	  
	Section 9.12	 	 Sale of Properties
	  	 	67	  
	Section 9.13	 	 Environmental Matters
	  	 	69	  
	Section 9.14	 	 Transactions with Affiliates
	  	 	69	  
	Section 9.15	 	 Subsidiaries
	  	 	69	  
	Section 9.16	 	 Amendments of First Lien Documents and Payments of Senior Notes
	  	 	69	  
	Section 9.17	 	 Negative Pledge Agreements; Dividend Restrictions
	  	 	69	  
	Section 9.18	 	 Take-or-Pay or Other Prepayments
	  	 	70	  
	Section 9.19	 	 Hedging Agreements
	  	 	70	  
	Section 9.20	 	 Designation and Conversion of Restricted and Unrestricted Subsidiaries
	  	 	70	  
		
	ARTICLE X	  			
	EVENTS OF DEFAULT; REMEDIES	  			
			
	Section 10.01	 	 Events of Default
	  	 	71	  
	Section 10.02	 	 Remedies
	  	 	73	  
		
	ARTICLE XI	  			
	THE AGENTS	  			
			
	Section 11.01	 	 Appointment; Powers
	  	 	74	  
	Section 11.02	 	 Duties and Obligations of Administrative Agent
	  	 	74	  
	Section 11.03	 	 Action by Administrative Agent
	  	 	74	  
	Section 11.04	 	 Reliance by Administrative Agent
	  	 	75	  
	Section 11.05	 	 Subagents
	  	 	75	  
	Section 11.06	 	 Resignation of Agents
	  	 	75	  
	Section 11.07	 	 Agents as Lenders
	  	 	76	  
	Section 11.08	 	 No Reliance
	  	 	76	  
	Section 11.09	 	 Authority to Release Guarantors, Collateral and Liens
	  	 	76	  
	Section 11.10	 	 The Arranger and Agents
	  	 	77	  
	Section 11.11	 	 Filing of Proofs of Claim
	  	 	77	  
		
	ARTICLE XII	  			
	MISCELLANEOUS	  			
			
	Section 12.01	 	 Notices
	  	 	78	  
	Section 12.02	 	 Waivers; Amendments
	  	 	79	  
	Section 12.03	 	 Expenses, Indemnity; Damage Waiver
	  	 	80	  
	Section 12.04	 	 Successors and Assigns
	  	 	82	  
	Section 12.05	 	 Survival; Revival; Reinstatement
	  	 	85	  
	Section 12.06	 	 Counterparts; Integration; Effectiveness
	  	 	86	  
	Section 12.07	 	 Severability
	  	 	86	  
	Section 12.08	 	 Right of Setoff
	  	 	86	  
	Section 12.09	 	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	86	  
	Section 12.10	 	 Headings
	  	 	87	  
	Section 12.11	 	 Confidentiality
	  	 	87	  
	Section 12.12	 	 EXCULPATION PROVISIONS
	  	 	88	  
	Section 12.13	 	 No Third Party Beneficiaries
	  	 	88	  
	Section 12.14	 	 US Patriot Act Notice
	  	 	88	  
	Section 12.15	 	 No Fiduciary Duty
	  	 	89	  

  
 iii 

 Annexes, Exhibits and Schedules 
  

							
	Annex I	 	 List of Commitments
	  	 	Annex I - Page 1	  
			
	Exhibit A	 	 Form of Note
	  	 	Exhibit A - Page 1	 
	Exhibit B	 	 Form of Borrowing Request
	  	 	Exhibit B - Page 1	 
	Exhibit C	 	 Form of Interest Election Request
	  	 	Exhibit C - Page 1	 
	Exhibit D	 	 Form of Compliance Certificate
	  	 	Exhibit D - Page 1	 
	Exhibit E	 	 Form of Assignment and Assumption
	  	 	Exhibit E - Page 1	 
	Exhibit F	 	 Security Instruments
	  	 	Exhibit F - Page 1	 
	Exhibit G	 	 Increased Facility Activation Notice
	  	 	Exhibit G - Page 1	 
	Exhibit H	 	 New Lender Supplement
	  	 	Exhibit H - Page 1	 
	Exhibit I	 	 Account Designation Letter
	  	 	Exhibit I - Page 1	 
	Exhibit J-1	 	 Form Of U.S. Tax Compliance Certificate (Foreign Lenders; Not Partnerships)
	  	 	Exhibit J-1 - Page 1	 
	Exhibit J-2	 	 Form Of U.S. Tax Compliance Certificate (Foreign Participants; Not Partnerships)
	  	 	Exhibit J-2 - Page 1	 
	Exhibit J-3	 	 Form Of U.S. Tax Compliance Certificate (Foreign Participants; Partnerships)
	  	 	Exhibit J-3 - Page 1	 
	Exhibit J-4	 	 Form Of U.S. Tax Compliance Certificate (Foreign Lenders; Partnerships)
	  	 	Exhibit J-4 - Page 1	 
			
	Schedule 1.02	 	 Approved Counterparties
	  	 	Schedule 1.02 - Page 1	 
	Schedule 7.03	 	 Post-Closing Consents
	  	 	Schedule 7.03 - Page 1	 
	Schedule 7.05	 	 Litigation
	  	 	Schedule 7.05 - Page 1	 
	Schedule 7.15	 	 Subsidiaries and Partnerships
	  	 	Schedule 7.15 - Page 1	 
	Schedule 7.16	 	 Locations, Jurisdictions of Organization and Organization Numbers
	  	 	Schedule 7.16 - Page 1	 
	Schedule 7.17	 	 Properties
	  	 	Schedule 7.17 - Page 1	 
	Schedule 7.19	 	 Gas Imbalances
	  			
	Schedule 7.20	 	 Marketing Contracts
	  	 	Schedule 7.20 - Page 1	 
	Schedule 7.21	 	 Hedging Agreements
	  	 	Schedule 7.21 - Page 1	 
	Schedule 7.26	 	 Deposit Accounts and Securities Accounts
	  	 	Schedule 7.26 - Page 1	 
	Schedule 9.05	 	 Investments
	  	 	Schedule 9.05 - Page 1	 

  
 iv 

 This SECURED TERM LOAN AGREEMENT, dated as of December 30, 2014, is among
Resolute Energy Corporation, a Delaware corporation (the “Borrower”), certain subsidiaries of the Borrower as guarantors, each of the Lenders from time to time party hereto and Bank of Montreal, as administrative agent for the
Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”). 
 R E C I
T A L S 
 A. The Borrower has requested that each Lender party hereto make Initial Term Loans in a stated principal amount opposite its
name on Annex I in an aggregate principal amount of $150,000,000.00. 
 B. The Lenders have agreed to make such Initial Term Loans
subject to the terms and conditions of this Agreement. 
 C. In consideration of the mutual covenants and agreements herein contained and of
the loans, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS AND ACCOUNTING MATTERS 

Section 1.01 Terms Defined Above. As used in this Agreement, each term defined above has the meaning indicated above. 

Section 1.02 Certain Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Account Designation Letter” means
the Notice of Account Designation Letter dated the date hereof from the Borrower to the Administrative Agent in substantially the form attached hereto as Exhibit I. 

“Additional Oil and Gas Assets” means (a) Oil and Gas Properties, (b) Gathering Systems and other improvements,
infrastructure, equipment and fixtures used in connection with the exploration, exploitation, development, or operation of Oil and Gas Properties or the production, treatment, handling, gathering, transportation, processing, and disposition of
hydrocarbons and associated products, (c) Investments in joint ventures that own any assets described in clauses (a) or (b) to the extent permitted by Section 9.05(i), and (d) Equity Interests acquired
from third parties in Persons that own any assets described in clauses (a) or (b) and that become Guarantors as provided in Section 8.14 promptly following such acquisition. 

“Additional Test Date” has the meaning assigned to such term in Section 9.01(d). 

“Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum
(rounded upwards, if necessary, to the next 1/100 of one percent (1%)) equal to the greater of (a) 1.0% and (b) (i) the LIBO Rate for such Interest Period multiplied by (ii) the Statutory Reserve Rate. 

 “Adjusted PV10” means, as of any date of determination, an amount equal to the
PV10 of the Oil and Gas Properties of the Borrower and the Guarantors as of the most recent date for which a Reserve Report has been prepared and delivered to the Administrative Agent, as such PV10 may have been thereafter adjusted to reflect any
Transfers and any acquisitions of Oil and Gas Properties and any reserve additions relating to newly drilled wells that were not included (or were incompletely included) in such Reserve Report. 

“Administrative Agent” has the meaning assigned to such term in the introductory paragraph. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Affected Loans” has the meaning assigned to such term in Section 5.05. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent” or
“Agents” means the Administrative Agent. 
 “Agreement” means this Secured Term Loan Agreement, as the
same may from time to time be amended, restated, modified, supplemented or otherwise modified. 
 “Alternate Base Rate”
means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus one half of one percent
( 1⁄2 of 1%), and (c) the Adjusted LIBO Rate for a one month Interest Period beginning on such day (or if such day is not a Business Day, the immediately
preceding Business Day) plus one percent (1%). Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of
such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 
 “Aneth Field”
means the oil and gas field known as the Aneth Field, located in San Juan County, Utah, consisting of the Aneth Unit, the McElmo Creek Unit and the Ratherford Unit. 

“Annual Budget” means a budget for the applicable year in form and substance acceptable to the Lead Investor (such acceptance
not to be unreasonably withheld), that shall describe the anticipated capital, operating and restricted payment expenditures (including dividends on equity issuances) of the Loan Parties. 

“Anti-Terrorism Laws” has the meaning assigned to such term in Section 7.24. 

“Applicable Margin” means (i) with respect to any ABR Loan, 9.0% per annum or (ii) with respect to any
Eurodollar Loan, 10.0% per annum. 
 “Applicable Percentage” means, with respect to any Lender, the percentage of the
Loans represented by the Loan held by such Lender. 
 “Approved Counterparty” means any (a) any First Lien Lender or
any Person who is an Affiliate of a First Lien Lender, (b) Person whose long term senior unsecured debt rating at the time of entry into the applicable Hedging Agreement is A-/A3 by S&P or Moody’s (or their equivalent) or higher, or
(c) 

  
 2 

 
with regard to Hedging Agreements in respect of commodities, and subject to the conditions set forth therein, any other Person listed on Schedule 1.02. 

“Approved Fund” means (a) a CLO and (b) with respect to any Lender that is a fund which invests in bank loans and
similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed by the same investment advisor as such Lender or by an Affiliate of such investment advisor. 

“Approved Petroleum Engineers” means Netherland Sewell & Associates, Inc., Cawley, Gillespie and Associates, Inc.,
Ryder Scott Co. LP, DeGolyer and MacNaughton, or any other independent petroleum engineers proposed by the Borrower and reasonably acceptable to the Lead Investor. 

“Asset Sale Prepayment Amount” has the meaning given to such term in Section 3.04(c). 

“Asset Sale Prepayment Percentage” means, with respect to any Transfer of Property, Liquidation or Casualty Event requiring a
mandatory prepayment under Section 3.04(c), (i) if no Default or Event of Default is then continuing, 75%, or (ii) if a Default or Event of Default is then continuing, 100%, provided that, notwithstanding the preceding
clause (i), if, after giving effect to such Transfer, Liquidation or Casualty Event and after also giving effect to the proposed reinvestment of the proceeds thereof as contemplated in Section 3.04(c), the Proved Reserves
Coverage Ratio is less than 1.75:1.00, the Proved Developed Reserves Coverage Ratio is less than 1.25:1.00, or the Total Net Secured Leverage Ratio is greater than 3.0 to 1.0, then the Asset Sale Prepayment Percentage with respect to such Transfer
of Property, Liquidation or Casualty Event shall be 100%. 
 “Arranger” means BMO Capital Markets Corp. in its capacities
as sole lead bookrunner and sole lead arranger hereunder. 
 “Assignment and Assumption” means an assignment and assumption
entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 12.04(b)), and accepted by the Administrative Agent, in the form of Exhibit E or any other form approved by the
Administrative Agent. 
 “Board” means the Board of Governors of the Federal Reserve System of the United States of America
or any successor Governmental Authority. 
 “Borrower” has the meaning assigned to such term in the introductory paragraph.

 “Borrowing” means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar
Loans, as to which a single Interest Period is in effect. 
 “Borrowing Base” means, at any time, an amount equal to a
conforming borrowing base determined in good faith by the commercial bank lenders under the First Lien Revolving Credit Agreement utilizing their usual and customary oil and gas lending criteria as they exist at such time. 

“Borrowing Request” means the request by the Borrower for a Borrowing on the Effective Date in accordance with
Section 2.03. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial
banks in New York, New York, are authorized or required by law to remain closed; and if such day relates to a Borrowing or continuation of, a payment or prepayment of principal of or interest on, or a conversion of or into, or the Interest Period
for, a Eurodollar Loan or a notice by the Borrower with 

  
 3 

 
respect to any such Borrowing or continuation, payment, prepayment, conversion or Interest Period, any day which is also a day on which dealings in dollar deposits are carried out in the London
interbank market. 
 “BWNR” means BWNR, LLC, a Delaware limited liability company. 

“Capital Leases” means, in respect of any Person, all leases that shall have been, or should have been, in accordance with
GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder. 

“Cash Equivalents” means: 

(a) direct obligations of the United States or any agency thereof, or obligations guaranteed by the United States or any agency thereof, in
each case maturing within one year from the date of creation thereof. 
 (b) commercial paper maturing within one year from the date of
creation thereof rated in the highest grade by S&P or Moody’s. 
 (c) demand deposits, and time deposits maturing within one year
from the date of creation thereof, with, or issued by any Lender or any office located in the United States of any other bank or trust company which is organized under the laws of the United States or any state thereof, has capital, surplus and
undivided profits aggregating at least $100,000,000 (as of the date of such bank or trust company’s most recent financial reports) and has a short term deposit rating of at least A2 or P2, as such rating is set forth from time to time, by
S&P or Moody’s, respectively. 
 (d) deposits in money market funds at least 95% of whose assets are cash and Investments described
in the preceding clauses (a), (b) and (c). 
 “Casualty Event” means any loss, casualty or other
insured damage to, or any nationalization, taking under power of eminent domain or by condemnation or similar proceeding of, any Property of the Loan Parties having a fair market value in excess of $5,000,000. 

“Change in Control” means (a) a majority of the board of directors of the Borrower ceases to be composed of individuals
(i) who were members of such board on the Effective Date, (ii) whose election or nomination to such board was approved by individuals referred to in clause (i) above constituting at the time such election or nomination at least
a majority of such board, or (iii) whose election or nomination to such board was approved by individuals referred to in clause (i) or (ii) above constituting at the time of such election or nomination at least a
majority of such board, (b) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries and
any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of such plan) shall acquire beneficial ownership (within the meaning of Rule 13d-3 and 13d-5 of the SEC under the Securities Exchange Act of 1934, as
amended, and including holding proxies to vote for the election of directors other than proxies held by the Borrower’s management or their designees to be voted in favor of persons nominated by the Borrower’s board of directors) of
thirty-five percent (35%) or more of the outstanding voting securities of the Borrower, measured by voting power (including both common stock and any preferred stock or other equity securities entitling the holders thereof to vote with the
holders of common stock in the elections for directors of the Borrower) or (c) all or substantially all of the assets of the Borrower and its Restricted Subsidiaries are Transferred (it being understood and agreed that a sale of the assets of
Borrower and its Restricted Subsidiaries in the Aneth Field shall not be considered a sale of substantially all of the assets of the Borrower and its Restricted Subsidiaries). 

  
 4 

 “Change in Law” means the occurrence, after the date of this Agreement, of any
of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any
Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority or compliance by any Lender (or, for purposes of
Section 5.01(b)), by any lending office of such Lender or by such Lender’s holding company, if any) with any such request, rule, guideline or directive; provided that notwithstanding anything herein to the contrary,
(x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank
for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a
“Change in Law”, regardless of the date enacted, adopted or issued. 
 “CLO” means any entity (whether a
corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course of its business and is administered or managed by a Lender or
an Affiliate of such Lender. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any
successor statute. 
 “Collateral” means any Property of a Loan Party that is subject to the Liens now or hereafter
existing under the terms of one or more Security Instruments. 
 “Commitment” means, with respect to each Lender, the
commitment of such Lender to make Initial Term Loans and “Commitments” means the aggregate amount of the Commitments of all the Lenders to make Initial Term Loans, in each case, as the same is terminated pursuant to
Section 2.06. The aggregate Commitments of the Lenders to make Initial Term Loans on the Effective Date is $150,000.000.00. 

“Company Materials” has the meaning assigned to such term in Section 8.01. 

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or
that are franchise Taxes or branch profits Taxes. 
 “Consolidated Net Income” means with respect to the Borrower and its
Consolidated Restricted Subsidiaries, for any period, the net income (or loss) of the Borrower and its Consolidated Restricted Subsidiaries after allowances for taxes for such period determined on a consolidated basis in accordance with GAAP;
provided that there shall be excluded from such net income (to the extent otherwise included therein) the following: (a) the net income of any Person in which the Borrower or its Consolidated Restricted Subsidiaries has an interest
(which interest does not cause the net income of such other Person to be consolidated with the net income of the Borrower and its Consolidated Restricted Subsidiaries in accordance with GAAP), except to the extent of the amount of dividends or
distributions actually paid in cash during such period by such other Person to the Borrower or any Consolidated Restricted Subsidiary; (b) the net income (but not loss) during such period of any Consolidated Restricted Subsidiary to the extent
that the declaration or payment of dividends or similar distributions or transfers or loans by that Consolidated Restricted Subsidiary is not at the time permitted by operation of the terms of its charter or

  
 5 

 
any agreement, instrument (other than the Loan Documents) or Governmental Requirement applicable to such Consolidated Restricted Subsidiary or is otherwise restricted or prohibited, in each
case determined in accordance with GAAP; (c) the net income (or loss) of any Person acquired in a pooling-of-interests transaction for any period prior to the date of such transaction; (d) any extraordinary gains or losses during such
period; (e) the cumulative effect of a change in accounting principles and any gains or losses attributable to writeups or writedowns of assets; (f) any writeups or writedowns of non-current assets; and (g) non-cash gain and loss
under FAS133; and provided further that if the Borrower or any of its Consolidated Restricted Subsidiaries shall acquire or dispose of any Property during such period, then Consolidated Net Income shall be calculated after giving pro
forma effect to such acquisition or disposition, as if such acquisition or disposition had occurred on the first day of such period. 

“Consolidated Net Tangible Assets” means, as of any date of determination, (a) the amount that would, in conformity with
GAAP, be set forth opposite the caption “total assets” (or any like caption) on a consolidated balance sheet of the Borrower and the Restricted Subsidiaries at such date minus (b) the sum of all amounts that would, in
accordance with GAAP, be set forth opposite the captions “goodwill” or other intangible asset categories (or any like caption) on a consolidated balance sheet of the Borrower and the Restricted Subsidiaries at such date. 

“Consolidated Restricted Subsidiaries” means any Restricted Subsidiaries that are Consolidated Subsidiaries. 

“Consolidated Subsidiaries” means each Subsidiary of the Borrower (whether now existing or hereafter created or acquired) the
financial statements of which shall be (or should have been) consolidated with the financial statements of the Borrower in accordance with GAAP. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. For the purposes of this definition, and without limiting the generality of the foregoing, any Person that owns directly or indirectly twenty
percent (20%) or more of the Equity Interests having ordinary voting power for the election of the directors or other governing body of a Person (other than as a limited partner of such other Person) will be deemed to “control” such
other Person. “Controlling” and “Controlled” have meanings correlative thereto. 
 “Cooperative
Agreement” means that certain Cooperative Agreement between Resolute Aneth and NNOG, dated October 22, 2004, as amended by that certain First Amendment to Cooperative Agreement, dated October 21, 2005, as the same may, from time
to time, be amended, modified, supplemented or restated as permitted by the terms of such agreement. 
 “Current Rolling Hedge
Period” has the meaning assigned to such term in Section 8.18. 
 “Debt” means, for any Person, the
sum of the following (without duplication): (a) all obligations of such Person for borrowed money or evidenced by bonds, bankers’ acceptances, debentures, notes or other similar instruments; (b) all obligations of such Person (whether
contingent or otherwise) in respect of letters of credit and similar instruments; (c) all accounts payable and all accrued expenses, liabilities or other obligations of such Person to pay the deferred purchase price of Property or services
(excluding accounts payable incurred in the ordinary course of business which are not greater than ninety (90) days past the date of invoice or which are being contested in good faith by appropriate action and for which adequate reserves have
been maintained in accordance with GAAP); (d) all obligations under Capital Leases; (e) all obligations under Synthetic Leases; (f) all Debt (as defined in the other clauses of this definition) of others secured by a Lien on any
Property of such Person, whether or not such Debt is assumed by such Person; (g) all Debt (as defined in the other clauses of this definition) of others 

  
 6 

 
guaranteed by such Person or in respect of which such Person otherwise assures a creditor against loss of the Debt (howsoever such assurance shall be made) to the extent of the lesser of the
amount of such Debt and the maximum stated amount of such guarantee or assurance against loss; (h) all obligations or undertakings of such Person to maintain or cause to be maintained the financial position or condition of others or to purchase
the Debt or Property of others for such purpose; (i) obligations to deliver commodities, goods or services, including, without limitation, Hydrocarbons, in consideration of one or more advance payments, other than gas balancing arrangements in
the ordinary course of business; (j) any Debt of a partnership for which such Person is liable either by agreement, by operation of law or by a Governmental Requirement but only to the extent of such liability; (k) Disqualified Capital
Stock; and (l) the undischarged balance of any production payment created by such Person or for the creation of which such Person directly or indirectly received payment. The Debt of any Person shall include all obligations of such Person of
the character described above to the extent such Person remains legally liable in respect thereof notwithstanding that any such obligation is not included as a liability of such Person under GAAP. 

“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both
would, unless cured or waived, become an Event of Default. 
 “Disqualified Capital Stock” means any Equity Interest that,
by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event, matures or is mandatorily redeemable for any consideration other than other Equity Interests (which would
not constitute Disqualified Capital Stock), pursuant to a sinking fund obligation or otherwise, or is convertible or exchangeable for Debt or redeemable for any consideration other than other Equity Interests (which would not constitute Disqualified
Capital Stock) at the option of the holder thereof, in whole or in part, on or prior to the date that is one year after the Maturity Date. 

“dollars” or “$” refers to lawful money of the United States of America. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of the United States of America or any state
thereof or the District of Columbia. 
 “EBITDA” means, for any period, the sum of (a) Consolidated Net Income for
such period, plus (b) the following expenses or charges to the extent deducted from Consolidated Net Income in such period: (i) interest, (ii) income and franchise taxes, and (iii) depreciation, depletion, amortization,
and other non-cash charges, minus (c) all non-cash income added to Consolidated Net Income. 
 “Effective Date”
means the date on which the conditions specified in Section 6.01 are satisfied (or waived in accordance with Section 12.02). 

“Environmental Laws” means any and all Governmental Requirements pertaining in any way to health, safety, the environment or
the preservation or reclamation of natural resources, in effect in any and all jurisdictions in which any Loan Party or any Subsidiary is conducting or at any time has conducted business, or where any Property of any Loan Party or any Subsidiary is
located, including without limitation, the Oil Pollution Act of 1990 (“OPA”), as amended, the Clean Air Act, as amended, the Comprehensive Environmental, Response, Compensation, and Liability Act of 1980 (“CERCLA”),
as amended, the Federal Water Pollution Control Act, as amended, the Occupational Safety and Health Act of 1970, as amended, the Resource Conservation and Recovery Act of 1976 (“RCRA”), as amended, the Safe Drinking Water Act, as
amended, the Toxic Substances Control Act, as amended, the Superfund Amendments and Reauthorization Act of 1986, as amended, the Hazardous Materials Transportation Act, as amended, and other environmental conservation or protection Governmental
Requirements. For the purposes of this definition, Section 7.06 and Section 8.10, the term “oil” shall have the meaning specified in OPA, the terms “hazardous substance” and “release” (or
“threatened release”) shall have the meanings 

  
 7 

 
specified in CERCLA, the terms “solid waste” and “disposal” (or “disposed”) shall have the meanings specified in RCRA and the term “oil and gas waste”
shall have the meaning specified in Section 91.1011 of the Texas Natural Resources Code (“Section 91.1011”); provided, however, that (a) in the event either OPA, CERCLA, RCRA or Section 91.1011 is
amended so as to broaden the meaning of any term defined thereby, such broader meaning shall apply subsequent to the effective date of such amendment and (b) to the extent the laws of the state or other jurisdiction in which any Property of any
Loan Party or any Subsidiary is located establish a meaning for “oil,” “hazardous substance,” “release,” “solid waste,” “disposal” or “oil and gas waste” which is broader than that
specified in either OPA, CERCLA, RCRA or Section 91.1011, such broader meaning shall apply. 
 “Equity Interests”
means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the
holder thereof to purchase or acquire any such Equity Interest. 
 “ERISA” means the Employee Retirement Income Security
Act of 1974, as amended, and any successor statutes, and all regulations and guidances promulgated thereunder. 
 “ERISA
Affiliate” means each trade or business (whether or not incorporated) which together with a Loan Party would be deemed to be a “single employer” within the meaning of section 4001(b)(1) of ERISA or subsections (b), (c),
(m) or (o) of section 414 of the Code. 
 “ERISA Event” means (a) a “Reportable Event”
described in section 4043 of ERISA, other than a Reportable Event as to which the provisions of thirty (30) days notice to the PBGC is expressly waived under applicable regulations, (b) the withdrawal of a Loan Party or any ERISA
Affiliate from a Plan during a plan year in which it was a “substantial employer” as defined in section 4001(a)(2) of ERISA, (c) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a
termination under section 4041 of ERISA, (d) the institution of proceedings to terminate a Plan by the PBGC, (e) receipt of a notice of withdrawal liability pursuant to Section 4202 of ERISA or (f) any other event or
condition which might constitute grounds under section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan. 

“Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Event of Default” has the
meaning assigned to such term in Section 10.01. 
 “Excepted Liens” means: (a) Liens for Taxes,
assessments or other governmental charges or levies which are not delinquent or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (b) Liens in connection
with workers’ compensation, unemployment insurance or other social security, old age pension or public liability obligations which are not delinquent or which are being contested in good faith by appropriate action and for which adequate
reserves have been maintained in accordance with GAAP; (c) landlord’s liens, operators’, vendors’, carriers’, warehousemen’s, repairmen’s, mechanics’, suppliers’, workers’, materialmen’s,
construction or other like Liens arising in the ordinary course of business or incident to the exploration, development, operation and maintenance of Oil and Gas Properties each of which is in respect of obligations that are not delinquent or which
are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (d) contractual Liens that arise in the ordinary course of business under operating agreements, joint venture
agreements, oil and gas partnership agreements, oil and gas leases, farm-out agreements, division orders, contracts for 

  
 8 

 
the sale, transportation or exchange of oil and natural gas, unitization and pooling declarations and agreements, area of mutual interest agreements, overriding royalty agreements, marketing
agreements, processing agreements, net profits agreements, development agreements, gas balancing or deferred production agreements, injection, repressuring and recycling agreements, salt water or other disposal agreements, seismic or other
geophysical permits or agreements, and other agreements which are usual and customary in the oil and gas business and are for claims which are not delinquent or which are being contested in good faith by appropriate action and for which adequate
reserves have been maintained in accordance with GAAP, provided that any such Lien referred to in this clause does not materially impair the use of the Property covered by such Lien for the purposes for which such Property is held by a Loan
Party or materially impair the value of such Property subject thereto; (e) Liens arising solely by virtue of any statutory, customary or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies and
burdening only deposit accounts or other funds maintained with a creditor depository institution, provided that no such deposit account is a dedicated cash collateral account in favor of the depository institution or is subject to
restrictions against access by the depositor in excess of those set forth by regulations promulgated by the Board and no such deposit account is intended by a Loan Party to provide collateral to the depository institution; (f) easements,
restrictions, servitudes, permits, conditions, covenants, exceptions or reservations in any Property of the Borrower or any Subsidiary for the purpose of roads, pipelines, transmission lines, transportation lines, distribution lines for the removal
of gas, oil, coal or other minerals or timber, and other like purposes, or for the joint or common use of real estate, rights of way, facilities and equipment, which in the aggregate do not materially impair the use of such Property for the purposes
of which such Property is held by the Borrower or any Subsidiary or materially impair the value of such Property subject thereto; (g) Liens on cash or securities pledged to secure performance of tenders, surety and appeal bonds, government
contracts, performance and return of money bonds, bids, trade contracts, leases, statutory obligations, regulatory obligations and other obligations of a like nature incurred in the ordinary course of business; (h) judgment and attachment Liens
not giving rise to an Event of Default, provided that any appropriate legal proceedings which may have been duly initiated for the review of such judgment shall not have been finally terminated or the period within which such proceeding may
be initiated shall not have expired and no legal action to enforce such Lien has been commenced; and (i) Liens arising from Uniform Commercial Code financing statement filings regarding operating leases (including Synthetic Leases) entered into
by the Borrower and the Subsidiaries in the ordinary course of business covering only the Property under lease; provided further that no intention to subordinate the priority of the Lien granted in favor of the Administrative Agent and the
Lenders is to be hereby implied or expressed by the permitted existence of such Excepted Liens. 
 “Excluded Taxes” means,
with respect to any Agent, any Lender or any other recipient of any payment to be made by or on account of any obligation of a Loan Party hereunder or under any other Loan Document, (a) income or franchise Taxes (however denominated) imposed on
(or measured by) its net income by the jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) any branch
profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction in which a Loan Party is located, (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under
Section 5.04(b)), any U.S. federal withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to
such Foreign Lender’s failure to comply with Section 5.03(f), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive
additional amounts with respect to such withholding tax pursuant to Section 5.03(a) or Section 5.03(c) and (d) any U.S. federal withholding Taxes imposed under FATCA. 

  
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 “Excluded Transfer” means (a) any Transfer of Oil and Gas Properties for
which no net cash purchase price is paid to the Borrower or any of its Subsidiaries (it being acknowledged, for the avoidance of doubt, that any such net cash purchase price does not include any consideration received in the form of wells drilled
pursuant to farmout agreements, expenses paid pursuant to carried interests, interests acquired pursuant to pooling or unitization agreements, and similar forms of non-cash consideration), and (b) any Transfer permitted under
Section 9.12(c) for which the cash purchase price paid (or the aggregate cash purchase price paid, in the case of a series of Transfers that are part of the same transaction) is less than $2,500,000. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor
version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Code. 

“FCPA” means the Foreign Corrupt Practices Act of 1977, as amended, and any rules or regulations promulgated pursuant
thereto. 
 “Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the
next 1/100 of one percent (1%)) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of
New York, New York or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of one percent (1%)) of the quotations for such day for such transactions received by the
Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
 “Financial Covenants” means
the covenants contained in Section 9.01. 
 “Financial Officer” means, for any Person, the chief financial
officer or chief accounting officer of such Person. Unless otherwise specified, all references herein to a Financial Officer means a Financial Officer of the Borrower. 

“Financial Statements” means the financial statement or statements of the Borrower and its Subsidiaries referred to in
Section 7.04(a). 
 “First Lien Administrative Agent” means Wells Fargo Bank, National Association, in its
capacity as administrative agent (under the First Lien Revolving Credit Agreement and any successor in such capacity). 
 “First
Lien Cap” means the greater of (i) the Borrowing Base as in effect on the Effective Date and (ii) $500,000,000 less the aggregate principal amount of the Loans from time to time outstanding. 

“First Lien Debt” means all Indebtedness (as defined in the First Lien Revolving Credit Agreement) of the Borrower and its
Subsidiaries. 
 “First Lien Documents” means the First Lien Revolving Credit Agreement and any other “Loan
Documents” (as defined in the First Lien Revolving Credit Agreement, or the equivalent term in any replacement or refinancing of the First Lien Revolving Credit Agreement), in each case, together with all amendments, modifications and
supplements thereto and restatements thereof. 
 “First Lien Revolving Credit Agreement” means that certain Second Amended
and Restated Credit Agreement, dated as of March 30, 2010 (as hereafter amended, supplemented, modified, restated, 

  
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refinanced or replaced from time to time as permitted by the Intercreditor Agreement); provided, that the First Lien Revolving Credit Agreement shall be, at all times, a reserve-based
revolving bank facility provided by commercial lenders with a borrowing base determined in accordance with customary oil and gas lending criteria (i) with industry standard terms for a reserve-based revolving bank facility (such terms not to
include any call protection or any issuance of equity, conveyance of real property or similar “kicker” or other mechanism to increase the yield received by the lenders thereunder)) and (ii) pricing not to exceed, after including any
original issue discount, upfront or similar fees, a yield greater than LIBOR plus five percent (5.0%), with no more than two percent (2.0%) of such yield attributable to original issue discount or other applicable fees).  

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Borrower is
located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time subject
to the terms and conditions set forth in Section 1.05. 
 “Gathering System” means a functioning gathering
system owned by the Borrower and its Restricted Subsidiaries constituting gathering lines, equipment and fixtures used to gather and transport natural gas from leases to a processing plant or pipeline interconnection and the rights of way and
easements on which such gathering lines, equipment and fixtures are located, provided that “Gathering System” does not include (a) any rights of way or easements until gathering lines located thereon are connected to a
functioning gathering system, (b) any rights of way and easements that are abandoned or otherwise returned to the grantor thereof, (c) any items of equipment or fixtures that are removed from and no longer used in a functioning gathering
system, and (d) any Oil and Gas Properties. 
 “Governmental Authority” means the government of the United States of
America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory
or administrative powers or functions of or pertaining to government over the Loan Parties, any Subsidiary, any of their Properties, any Agent or any Lender. 

“Governmental Requirement” means any applicable law, statute, code, ordinance, order, determination, rule, regulation,
judgment, decree, injunction, franchise, permit, certificate, license, authorization or other directive or requirement, whether now or hereinafter in effect, including, without limitation, Environmental Laws, energy regulations and occupational,
safety and health standards or controls, of any Governmental Authority. 
 “Guarantors” means each Domestic Subsidiary of
the Borrower that guarantees the Indebtedness pursuant to Section 8.14(b). Each Subsidiary of the Borrower that guarantees the First Lien Revolving Credit Agreement shall be a Guarantor hereunder. 

“Guaranty and Collateral Agreement” means the Guaranty and Collateral Agreement executed by the Loan Parties, in a form
reasonably approved by the Administrative Agent and its counsel (a) unconditionally guarantying, on a joint and several basis by the Guarantors, payment of the Indebtedness and (b) grant Liens and a security interest on the Borrower’s
and the Guarantors’ personal property constituting “collateral” as defined therein in favor of the Administrative Agent for the benefit of the Lenders to secure the Indebtedness, as the same may be amended, modified or supplemented
from time to time. 

  
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 “Hedging Agreement” means any agreement with respect to any swap, forward,
future or derivative transaction or option or similar agreement, whether exchange traded, “over-the-counter” or otherwise, involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or
securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing
for payments only on account of services provided by current or former directors, officers, employees or consultants of the Loan Parties shall be a Hedging Agreement. 

“Highest Lawful Rate” means, with respect to each Lender, the maximum nonusurious interest rate, if any, that at any time or
from time to time may be contracted for, taken, reserved, charged or received on the Indebtedness under laws applicable to such Lender which are presently in effect or, to the extent allowed by law, under such applicable laws, which may hereafter be
in effect and which allow a higher maximum nonusurious interest rate than applicable laws allow as of the date hereof. 

“Hydrocarbon Interests” means all rights, titles, interests and estates now or hereafter acquired in and to oil and gas
leases, oil, gas and mineral leases, or other liquid or gaseous hydrocarbon leases, mineral fee interests, overriding royalty and royalty interests, net profit interests and production payment interests, including any reserved or residual interests
of whatever nature. 
 “Hydrocarbons” means oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate,
distillate, liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom. 
 “Increased Facility
Activation Date” means any Business Day on which the Borrower and any Lender shall execute and deliver to the Administrative Agent an Increased Facility Activation Notice pursuant to Section 2.07(a). 

“Increased Facility Activation Notice” means a notice substantially in the form of Exhibit G. 

“Increased Facility Closing Date” means any Business Day designated as such in an Increased Facility Activation Notice. 

“Incremental Term Lenders” means (a) on any Increased Facility Activation Date relating to Incremental Term Loans, the
Lenders signatory to the relevant Increased Facility Activation Notice and (b) thereafter, each Lender that is a holder of an Incremental Term Loan. 

“Incremental Term Loans” means any Loans made pursuant to Section 2.07(a). 

“Indebtedness” means the Loans, all accrued and unpaid interest and premium, if any, thereon and any and all other amounts
owing or to be owing (including interest accruing at any post-default rate and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any Loan Party,
whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) by a Loan Party (whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or
hereafter arising) to any Agent or any Lender under any Loan Document and all renewals, extensions and/or rearrangements thereof. 

“Indemnified Taxes” means (a) Taxes other than Excluded Taxes, and (b) to the extent not otherwise described in
(a), Other Taxes. 
 “Indemnitee” has the meaning assigned to such term in Section 12.03(b). 

  
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 “Information” has the meaning assigned to such term in
Section 12.11. 
 “Initial Reserve Reports” means (a) the report dated as of January 28, 2014,
audited by Netherland Sewell & Associates, Inc., with respect to certain Oil and Gas Properties of the Loan Parties as of December 31, 2013 and (b) the report (consisting of a lender presentation and accompanying materials) dated
as of November 12, 2014, prepared by the chief reserve engineer of the Borrower, with respect to certain Oil and Gas Properties of the Loan Parties as of June 30, 2014. 

“Initial Term Loans” means the Loans made to the Borrower on the Effective Date. 

“Intercreditor Agreement” means that certain Intercreditor Agreement dated the date hereof among the Borrower, the
Guarantors, the First Lien Administrative Agent and the Administrative Agent, as amended from time to time in accordance with the terms thereof, and any successor intercreditor agreement as contemplated in such Intercreditor Agreement with respect
to any Permitted Refinancing. 
 “Interest Election Request” means a request by the Borrower to convert or continue a
Borrowing in accordance with Section 2.04. 
 “Interest Payment Date” means (a) with respect to any ABR
Loan, the last day of each March, June, September and December, and (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing
with an Interest Period of more than three (3) months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three (3) months’ duration after the first day of such Interest Period. 

“Interest Period” means with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, with the consent of each Lender, twelve months) thereafter, as the Borrower may elect; provided, that (a) if any Interest Period
would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on
the next preceding Business Day, (b) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar
month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes of this definition, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter
shall be the effective date of the most recent conversion or continuation of such Borrowing, (c) the initial Interest Period shall commence on the Effective Date and end on the date selected by the Borrower in accordance with the terms hereof
and, unless the Loans have been prepaid, the final Interest Period shall end on the Maturity Date and (d) the initial Interest Period for any Incremental Term Loan shall commence on the relevant Increased Facility Closing Date and end on the
next succeeding Interest Payment Date. 
 “Investment” means, for any Person: (a) the acquisition (whether for cash,
Property, services or securities or otherwise) of Equity Interests of any other Person or any commitment to make any such acquisition (including, without limitation, any “short sale” or any sale of any securities at a time when such
securities are not owned by the Person entering into such short sale) or any capital contribution to any other Person; (b) the making of any deposit with, or advance, loan or capital contribution to, assumption of Debt of, purchase or other
acquisition of any other Debt or equity participation or interest in, or other extension of credit to, any other Person (including the purchase of Property from another Person subject to an understanding or agreement, contingent or otherwise, to
resell such Property to such Person); (c) the entering into of any guarantee of, or other contingent obligation (including the deposit of 

  
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any Equity Interests to be sold, and including the issuance of a letter of credit for the account of such Person) with respect to, Debt of any other Person or with respect to Debt or other
liability of any Unrestricted Subsidiary and (without duplication) any amount committed to be advanced, lent or extended to such other Person; or (d) the purchase or acquisition (in one or a series of transactions) of Property of another Person
that constitutes a business unit of such other Person. 
 “Lead Investor” refers collectively, at any time in question, to
those Lenders under this Agreement that, at such time, are funds and accounts managed and/or advised by Highbridge Principal Strategies LLC and for whom Highbridge Principal Strategies LLC (or any of its Affiliates) has signature authority. 

“Lenders” means the lenders signatory to this Agreement and any Person that shall have become a party hereto pursuant to an
Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 

“LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on Reuters Screen
LIBOR01 which displays an average ICE Benchmark Administration Interest Settlement Rate (or such other comparable page as may, in the opinion of the Administrative Agent, replace such page for the purpose of displaying such rates) providing rate
quotations comparable to those currently provided on such page, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time
for any reason, then the “LIBO Rate” with respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which dollar deposits of $1,000,000 and for a maturity comparable to such Interest Period are offered by the
principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period. 

“Lien” means any interest in Property securing an obligation owed to, or a claim by, a Person other than the owner of the
Property, whether such interest is based on the common law, statute or contract, and whether such obligation or claim is fixed or contingent, and including but not limited to (a) the lien or security interest arising from a mortgage,
encumbrance, pledge, security agreement, conditional sale or trust receipt or a lease, consignment or bailment for security purposes, (b) production payments and the like payable out of Oil and Gas Properties, and (c) easements,
restrictions, servitudes, permits, conditions, covenants, encroachments, exceptions or reservations. For the purposes of this Agreement, any Loan Party shall be deemed to be the owner of any Property which it has acquired or holds subject to a
conditional sale agreement, or leases under a financing lease or other arrangement pursuant to which title to the Property has been retained by or vested in some other Person in a transaction intended to create a financing. 

“Liquidate” means, with respect to any Hedging Agreement, the sale, assignment, novation, unwind or termination of all or any
part of such Hedging Agreement; provided that for purposes of this definition, a Hedging Agreement shall not be deemed to have been Liquidated if, (a) such Hedging Agreement is novated from the existing counterparty to an Approved
Counterparty, with the Borrower or a Restricted Subsidiary being the “remaining party” for purposes of such novation, or (b) upon its termination, it is replaced, in a substantially contemporaneous transaction, with one or more
Hedging Agreements with approximately the same mark-to-market value and without cash payments to the Borrower or any Restricted Subsidiary in connection therewith. The terms “Liquidated” and “Liquidation” have correlative
meanings thereto. 

  
 14 

 “‘Liquidity and Compliance Requirements’ means at any time that (and the
Liquidity and Compliance Requirements are satisfied at any time when) all of the following conditions exist after giving effect to any Borrowing Base reduction that may be required at such time under the First Lien Credit Agreement as a result of
any Transfer, Liquidation, Casualty Event, or other concurrent event: 
 (a) the outstanding credit exposures under the First Lien Credit
Agreement (i.e., the total credit exposures of the lenders and the issuing bank under the First Lien Credit Agreement with respect to outstanding loans and drawn and undrawn letters of credit) are less than or equal to the Borrowing Base under the
First Lien Credit Agreement, and the net cash proceeds of any such Transfer, Liquidation, Casualty Event or other concurrent event are not otherwise required by the First Lien Credit Agreement to be used to pay the Obligations (as defined in the
First Lien Credit Agreement); 
 (b) the sum of (i) the Loan Parties’ unrestricted cash and Cash Equivalents plus the amount of
such Borrowing Base minus (ii) such total credit exposures under the First Lien Credit Agreement equals or exceeds an amount (in this definition, the “liquidity amount”) equal to 25% of such Borrowing Base, provided that
in no event shall the liquidity amount be less than $25,000,000 or more than $70,000,000; 
 (c) no Default or Event of Default exists, as
such terms are defined in the First Lien Credit Agreement; and 
 (d) the Loan Parties are in pro forma compliance with the financial
covenants set forth in Section 9.01 under the First Lien Credit Agreement, after giving effect to any payments made or to be made at such time under this Agreement or the First Lien Credit Agreement. 

“Loan Documents” means this Agreement, the Notes, the Intercreditor Agreement and the Security Instruments. 

“Loan Parties” means, without duplication, the Borrower, each Guarantor and each Restricted Subsidiary. 

“Loans” means the term loans made by each Lender to the Borrower pursuant to this Agreement including the Initial Term Loans
and any Incremental Term Loans. 
 “Majority Initial Lenders” means, collectively (i) Lenders holding more than fifty
percent (50.0%) of the outstanding aggregate principal amount of the Initial Term Loans and (ii) the Lead Investor. 

“Majority Lenders” means, at any time while no Loans are outstanding, (i) Lenders having more than fifty percent
(50.0%) of the Commitments of all Lenders and (ii) the Lead Investor, and at any time while any Loans are outstanding, (i) Lenders holding more than fifty percent (50.0%) of the outstanding aggregate principal amount of the Loans
and (ii) the Lead Investor. 
 “Material Adverse Effect” means a material adverse effect on (a) the business,
operations, Property, liabilities (actual or contingent) or condition (financial or otherwise) of the Loan Parties taken as a whole, (b) the ability of any Loan Party to perform any of its obligations under any Loan Document, (c) the
validity or enforceability of any Loan Document or (d) the rights and remedies of or benefits available to the Administrative Agent, any other Agent or any Lender under any Loan Document. 

“Material Debt” means (a) Debt (other than the Loans) or obligations in respect of one or more Hedging Agreements, of
any one or more of the Loan Parties in an aggregate principal amount exceeding 

  
 15 

 
$5,000,000, (b) the First Lien Debt and (c) the Senior Notes. For purposes of determining Material Debt, the “principal amount” of the obligations of a Loan Party in respect
of any Hedging Agreement at any time shall be the aggregate amount (giving effect to any netting agreements) that the Loan Party would be required to pay if such Hedging Agreement were Liquidated at such time. 

“Maturity Date” means the earlier of (i) the date that is six months following the maturity date of the First Lien
Revolving Credit Agreement, as such maturity date is extended from time to time, and (ii) November 1, 2019. 

“MOIC” and “MOIC Amount” have the meanings given to such terms in Section 3.04(d). 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto that is a nationally recognized rating
agency. 
 “Mortgage” means each mortgage, deed of trust or any other document creating and evidencing a Lien on real or
immovable Property and other Property to secure the Indebtedness, which shall be in a form reasonably satisfactory to the Administrative Agent, as the same may be amended, modified, supplemented or restated from time to time in accordance with the
Loan Documents. 
 “Mortgage Threshold” means (a) prior to the Mortgage Threshold Date, 80%, and (b) on and after
the Mortgage Threshold Date, 90%. 
 “Mortgage Threshold Date” means the date that is 45 days after the Effective Date, as
such date may be extended from time to time by the Administrative Agent in its sole discretion.” 
 “Mortgaged
Property” means any real Property and associated personal Property owned by a Loan Party that is subject to a Mortgage. 

“Multiemployer Plan” means a Plan which is a multiemployer plan as defined in section 3(37) or 4001 (a)(3) of ERISA.

 “NNOG” means Navajo Nation Oil and Gas Company, a federally chartered corporation. 

“Net Cash Proceeds” means (a) in the case of any Transfer or Liquidation, the amount equal to the gross cash proceeds
received by the Borrower or any Restricted Subsidiary from such Transfer or Liquidation less each of the following (without duplication): (i) the amount utilized to repay First Lien Debt as required in the First Lien Documents with a
corresponding reduction in the Borrowing Base or a permanent reduction of any other Debt secured by the asset subject of such Transfer, (ii) commissions, broker’s fees, legal, accounting and other professional fees and expenses, and other
usual and customary transaction costs and transaction taxes, including, without limitation, indemnification and other post-closing obligations and reserves related to any such Transfer or Liquidation, in each case only to the extent paid, reserved
or payable by a Loan Party in cash and related to such Transfer or Liquidation, respectively, provided that such amounts shall not exceed 7.5% of the gross cash proceeds received with respect to such Transfer or Liquidation, and (iii) all
amounts paid for the early termination of Hedging Agreements required as a result of such Transfer; and (b) in connection with any issuance of any Debt, the gross cash proceeds received from such issuance net of attorneys’ fees, investment
banking fees, accountants’ fees, underwriting discounts and commissions and other customary fees and expenses actually incurred in connection therewith provided that such amount does not exceed 5% of the gross proceeds of such issuance of Debt.
For the avoidance of doubt, the above reference to a permanent reduction in a commitment does not limit the ability of the Borrower to subsequently incur Debt otherwise permitted under this Agreement including the ability of the Borrower to borrow
under the First 

  
 16 

 
Lien Revolving Credit Agreement up to the full amount of the Borrowing Base as redetermined from time to time. If a Liquidation requires Borrower or any Restricted Subsidiary to make cash
payments, any such payments will be Net Cash Proceeds with a negative value. 
 “New Lender” has the meaning assigned to
such term in Section 2.07(b). 
 “Notes” means the promissory notes of the Borrower described in
Section 2.02(d) and being substantially in the form of Exhibit A, together with all amendments, modifications, replacements, extensions and rearrangements thereof. 

“NYMEX Pricing” shall mean, as of any date of determination with respect to any month (i) for crude oil, the closing
settlement price for the Light, Sweet Crude Oil futures contract for each month, and (ii) for natural gas, the closing settlement price for the Henry Hub Natural Gas futures contract for such month, in each case as published by New York
Mercantile Exchange (NYMEX) on its website currently located at www.nymex.com, or any successor thereto (as such price may be corrected or revised from time to time by the NYMEX in accordance with its rules and regulations). 

“OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control. 

“Oil and Gas Properties” means (a) Hydrocarbon Interests; (b) the Properties now or hereafter pooled or unitized
with Hydrocarbon Interests; (c) all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created thereby (including without limitation all units created under orders, regulations and rules
of any Governmental Authority) which may affect all or any portion of the Hydrocarbon Interests; (d) all operating agreements, contracts and other agreements, including production sharing contracts and agreements, which relate to any of the
Hydrocarbon Interests or the production, sale, purchase, exchange or processing of Hydrocarbons from or attributable to such Hydrocarbon Interests; (e) all Hydrocarbons in and under and which may be produced and saved or attributable to the
Hydrocarbon Interests, including all oil in tanks, and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; (f) all tenements, hereditaments, appurtenances and Properties
in any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests and (g) all Properties, rights, titles, interests and estates described or referred to above, including any and all Property, real or personal, now owned
or hereinafter acquired and situated upon, used, held for use or useful in connection with the operating, working or development of any of such Hydrocarbon Interests or Property (excluding drilling rigs, automotive equipment, rental equipment or
other personal Property which may be on such premises for the purpose of drilling a well or for other similar temporary uses) and including any and all oil wells, gas wells, injection wells or other wells, structures, fuel separators, liquid
extraction plants, plant compressors, pumps, pumping units, field gathering systems, tanks and tank batteries, fixtures, valves, fittings, machinery and parts, engines, boilers, meters, apparatus, equipment, appliances, tools, implements, cables,
wires, towers, casing, tubing and rods, surface leases, rights-of-way, easements and servitudes together with all additions, substitutions, replacements, accessions and attachments to any and all of the foregoing. As used herein, “proved Oil
and Gas Properties” means Oil and Gas Properties to which, as of the time in question, proved reserves of oil or gas have been attributed in the then most recent Reserve Report. 

“Organizational Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and
the bylaws (or equivalent or comparable constitutive documents with respect to any non-US jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement or
limited liability company agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles
of formation or organization of such entity. 

  
 17 

 “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as
a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received
payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes” means any and all present or future stamp, documentary, court, intangible, recording, filing or similar Taxes
or any other excise or Property Taxes, charges or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement and any other Loan Document, except any such
Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 5.04). 

“Participant” has the meaning assigned to such term in Section 12.04(c)(i). 

“Participant Register” has the meaning assigned to such term in Section 12.04(c)(iii). 

“Patriot Act” has the meaning assigned to such term in Section 12.15. 

“PBGC” means the Pension Benefit Guaranty Corporation, or any successor thereto. 

“Permitted Refinancing” means any Refinancing (as defined in the Intercreditor Agreement) of the First Lien Debt that is
permitted by the Intercreditor Agreement. 
 “Person” means any natural person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any
employee pension benefit plan, as defined in section 3(2) of ERISA, which is subject to Title IV of ERISA and which (a) is currently or hereafter sponsored, maintained or contributed to by a Loan Party or an ERISA Affiliate or (b) was
at any time during the six calendar years preceding the date hereof, sponsored, maintained or contributed to by a Loan Party or a Subsidiary or an ERISA Affiliate. 

“Platform” has the meaning assigned to such term in Section 8.01. 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by the Administrative Agent as its
prime rate in effect at its office in New York, New York; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. Such rate is set by the Administrative Agent as a general
reference rate of interest, taking into account such factors as the Administrative Agent may deem appropriate; it being understood that many of the Administrative Agent’s commercial or other loans are priced in relation to such rate, that it is
not necessarily the lowest or best rate actually charged to any customer and that the Administrative Agent may make various commercial or other loans at rates of interest having no relationship to such rate. 

“Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible,
including, without limitation, cash, securities, accounts and contract rights. 

  
 18 

 “Proved Developed Reserves Coverage Ratio” means the ratio of (a) the
Adjusted PV10 for the Borrower and its Subsidiaries attributable to Proved Developed Reserves to (b) Total Secured Debt. 

“Proved Reserves” means “Proved Reserves” as defined in the Definitions for Oil and Gas Reserves (in this
paragraph, the “Definitions”) promulgated by the Society of Petroleum Engineers (or any generally recognized successor) as in effect at the time in question. “Proved Developed Producing Reserves” means Proved Reserves which are
categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Reserves” means Proved Reserves which are categorized as “Developed” in the Definitions. “Proved Developed
Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as
“Undeveloped” in the Definitions. 
 “Proved Reserves Coverage Ratio” means the ratio of (a) the Adjusted
PV10 for the Borrower and its Subsidiaries to (b) Total Secured Debt. 
 “Public Lender” has the meaning assigned to
such term in Section 8.01. 
 “PV10” means, as of any date of determination for the Borrower and the
Guarantors, the present value of estimated future revenues less severance and ad valorem taxes, operating, gathering and other expenses and capital expenditures from the production of Proved Reserves from their Oil and Gas Properties, calculated
(a) using, to the extent of the notional volumes covered thereby, the prices under Hedging Agreements with Approved Counterparties then in effect, and otherwise using the five-year Strip Price on such date of determination, in each case
adjusted for any basis differential, quality and gravity, (b) using costs as of the date of estimation without future escalation, without giving effect to non-property related expenses such as general and administrative expenses, debt service,
future income tax expense and depreciation, depletion and amortization, (c) discounted using an annual discount rate of 10%, and (d) to the extent not otherwise specified in the preceding clauses of this sentence, using reasonable economic
assumptions consistent with such clauses. 
 “Recipient” means (a) the Administrative Agent or (b) any Lender, as
applicable. 
 “Redemption” means with respect to any Debt, the repurchase, redemption, prepayment, repayment or defeasance
(or the segregation of funds with respect to any of the foregoing) of such Debt. “Redeem” has the correlative meaning thereto. 

“Register” has the meaning assigned to such term in Section 12.04(b)(iv). 

“Regulation D” means Regulation D of the Board, as the same may be amended, supplemented or replaced from time to time.

 “Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective
directors, officers, employees, agents and advisors (including attorneys, accountants and experts) of such Person and such Person’s Affiliates. 

“Remedial Work” has the meaning assigned to such term in Section 8.10(a). 

“Reserve Report” means a report, in form and substance reasonably satisfactory to the Lead Investor, setting forth, as of
each January 1st or July 1st (or such other date in the event of an interim redetermination or an Additional Test Date pursuant to Section 9.01) the oil and gas reserves attributable to the proved Oil and Gas Properties of the
Loan Parties (or as for interim redetermination or an Additional Test Date pursuant to Section 9.01, the proved Oil and Gas Properties of the Loan Parties 

  
 19 

 
acquired since the last redetermination of the Borrowing Base), together with a projection of the rate of production and future net income, taxes, operating expenses, transportation expenses and
capital expenditures with respect thereto as of such date, based upon assumptions consistent with SEC reporting requirements. 

“Resolute Aneth” means Resolute Aneth, LLC, a Delaware limited liability company. 

“Resolute Wyoming” means Resolute Wyoming, Inc., a Delaware corporation. 

“Responsible Officer” means, as to any Person, the Chief Executive Officer, the Chief Operating Officer, the President, any
Financial Officer or any Senior Vice President of such Person. Unless otherwise specified, all references to a Responsible Officer herein means a Responsible Officer of the Borrower. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other Property) with respect to
any Equity Interests in a Loan Party or a Subsidiary, any return of capital to the owners of such Equity Interests in a Loan Party or a Subsidiary, or any payment (whether in cash, securities or other Property), including any sinking fund or similar
deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in a Loan Party or a Subsidiary or any option, warrant or other right to acquire any such Equity Interests in a Loan
Party or a Subsidiary. 
 “Restricted Subsidiaries” means all Subsidiaries of the Borrower that are not Unrestricted
Subsidiaries. “SEC” means the U.S. Securities and Exchange Commission or any successor Governmental Authority. 

“Sanctioned Country” means, at any time, a country or territory which itself is the subject or target of any Sanctions. 

“Sanctioned Person” means (a) a Person named on (i) the list of “Specially Designated Nationals and Blocked
Persons” maintained by OFAC available at http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx, or as otherwise published from time to time or (ii) any other Sanctions-related list of designated Persons maintained
by OFAC, the U.S. Department of the Treasury, the U.S. Department of Commerce or the U.S. Department of State, (b) an agency of the government of a Sanctioned Country, (c) an organization controlled by a Sanctioned Country, or (d) a
person resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC. 
 “Sanctions”
means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by the U.S. government, including those administered by OFAC, the U.S. Department of the Treasury, the U.S. Department of
Commerce or the U.S. Department of State. 
 “Security Instruments” means any Guaranty and Collateral Agreement,
Mortgages, security agreements, pledge agreements, deposit account control agreements and securities account control agreements, the Subordination Agreement and any and all other agreements, instruments, certificates or certificates now or hereafter
executed and delivered by any Loan Party or any other Person (other than Hedging Agreements with the Lenders or any Affiliate of a Lender or participation or similar agreements between any Lender and any other lender or creditor with respect to any
Indebtedness pursuant to this Agreement) to guarantee or provide security for the payment or performance of the Indebtedness or this Agreement, as such agreements may be amended, modified, supplemented or restated from time to time. 

  
 20 

 “Senior Liens” means the Liens securing the First Lien Debt to the extent
permitted by the Intercreditor Agreement. 
 “Senior Notes” means the Borrower’s $400.0 million 8.50% Senior
Notes due 2020. 
 “S&P” means Standard & Poor’s Ratings Group, a division of The McGraw-Hill Companies,
Inc., and any successor thereto that is a nationally recognized rating agency. 
 “Statutory Reserve Rate” means a fraction
(expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board to which the Administrative Agent is subject, with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the
Board). Such reserve percentages shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for
proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any
change in any reserve percentage. 
 “Strip Price” shall mean, at any time, (a) for the remainder of the current
calendar year, the average NYMEX Pricing for the remaining contracts in the current calendar year, (b) for each of the succeeding four complete calendar years, the average NYMEX Pricing for the twelve months in each such calendar year, and
(c) for the succeeding fifth complete calendar year, and for each calendar year thereafter, the average NYMEX Pricing for the twelve months in such fifth calendar year. 

“Subordination Agreement” means that certain Subordination Agreement, dated as of the date hereof, among the Administrative
Agent (acting on behalf of the Lenders), Resolute Aneth and NNOG in which NNOG subordinates certain of its rights under the Cooperative Agreement to the rights of the Lenders under the Loan Documents, and as the same may, from time to time, be
amended, modified, supplemented or restated as permitted by the terms of this Agreement. 
 “Subsidiary” means, with
respect to any Person (the “parent”), any Person of which at least a majority of the outstanding Equity Interests having by the terms thereof ordinary voting power to elect a majority of the board of directors, manager or other governing
body of such Person or, in the case of a partnership, constituting a majority of the outstanding voting general partnership interests of such Person (in each case irrespective of whether or not at the time Equity Interests of any other class or
classes of such Person shall have or might have voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by the parent or one or more Subsidiaries of the parent or by the parent and one or
more of the Subsidiaries of the parent. Unless otherwise specified, references herein to any “Subsidiary” refer to a Subsidiary of the Borrower. 

“Synthetic Leases” means, in respect of any Person, all leases which, in accordance with GAAP, have been, or should have
been, treated as operating leases on the financial statements of the Person liable (whether contingently or otherwise) for the payment of rent thereunder and which have been, or should have been, properly treated as indebtedness for borrowed money
for purposes of U.S. federal income taxes. 
 “Taxes” means any and all present or future taxes, levies, imposts,
duties, deductions, charges, withholdings (including backup withholding), assessment or fees imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

  
 21 

 “Total Net Secured Leverage Ratio” means as of any date of determination the
ratio of (a) Total Secured Debt minus the lesser of (i) $50,000,000 and (ii) unrestricted and unencumbered cash and Cash Equivalents on the consolidated balance sheet of the Borrower to (b) EBITDA. 

“Total Secured Debt” means as of any date of determination the principal amount of all Debt of the Borrower and its
Consolidated Restricted Subsidiaries that is outstanding on such date and is allowed under subsections (a) and (i) of Section 9.02. 

“Transactions” means the execution, delivery and performance of this Agreement and each other Loan Document, the borrowing of
Loans under this Agreement, the use of the proceeds of such Loans, the grant of Liens on Collateral and other Properties pursuant to the Security Instruments and an amendment to the First Lien Credit Agreement, to be dated on or before the date
hereof. 
 “Transfer” has the meaning assigned to such term in Section 9.12. 

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to the Alternate Base Rate or the Adjusted LIBO Rate. 
 “UCC” means
the Uniform Commercial Code in effect from time to time in the State of New York. 
 “Unrestricted Subsidiary” means any
Subsidiary of the Borrower (a) that is designated as such on Schedule 7.15, (b) which the Borrower has designated in writing to the Administrative Agent to be an Unrestricted Subsidiary pursuant to Section 9.20, or
(c) that is a Subsidiary of another Unrestricted Subsidiary. 
 “U.S. Person”: a “United States person”
within the meaning of Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the meaning assigned
to such term in Section 5.03(e).” 
 “Wholly-Owned Subsidiary” means any Subsidiary of which all of the
outstanding Equity Interests (other than any directors’ qualifying shares mandated by applicable law), on a fully-diluted basis, are owned by the Borrower or one or more of the Wholly-Owned Subsidiaries of the Borrower or by the Borrower and
one or more of its Wholly-Owned Subsidiaries. 
 “Withholding Agent” means the Borrower, any Guarantor or the
Administrative Agent. 
 “WYNR” means WYNR, LLC, a Delaware limited liability company. 

Section 1.03 Types of Loans and Borrowings. For purposes of this Agreement, Loans and Borrowings, respectively, may be classified
and referred to by Type (e.g., a “Eurodollar Loan” or a “Eurodollar Borrowing”). 
 Section 1.04 Terms
Generally; Rules of Construction. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and
neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect
as the word “shall”. Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document 

  
 22 

 
herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any law shall be construed as referring to such law as amended, modified, codified or reenacted, in whole or in part, and in effect from time to time,
(c) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to the restrictions contained herein), (d) the words “herein”, “hereof” and “hereunder”,
and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (e) with respect to the determination of any time period, the word “from” means “from and
including” and the word “to” means “to and including” and (f) any reference herein to Articles, Sections, Annexes, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Annexes, Exhibits
and Schedules to, this Agreement. No provision of this Agreement or any other Loan Document shall be interpreted or construed against any Person solely because such Person or its legal representative drafted such provision. 

Section 1.05 Accounting Terms and Determinations; GAAP. Unless otherwise specified herein, all accounting terms used herein shall
be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all financial statements and certificates and reports as to financial matters required to be furnished to the Agents or the Lenders hereunder shall be
prepared, in accordance with GAAP, applied on a basis consistent with the audited Financial Statements delivered pursuant to Section 7.04(a)(i) except for changes in which Borrower’s independent certified public accountants concur
and which are disclosed to Administrative Agent on the next date on which financial statements are required to be delivered to the Lenders pursuant to Section 8.01(a); provided that, unless the Borrower and the Majority Lenders
shall otherwise agree in writing, no such change shall modify or affect the manner in which compliance with the covenants contained herein is computed such that all such computations shall be conducted utilizing financial information presented
consistently with prior periods. 
 ARTICLE II 

THE CREDITS 

Section 2.01 Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make a Loan to the Borrower
on the Effective Date in an aggregate principal amount equal to such Lender’s Commitment, provided that the Loans shall be subject to an upfront fee in an amount equal to five percent (5.0%) of par, payable to all Lenders as of the
Effective Date, which fee may be netted against the Loans advanced by each Lender. (The Lead Investor may also charge an additional fee or discount, as agreed to with the Borrower.) The Commitments are not revolving and amounts repaid or prepaid may
not be re-borrowed under any circumstance. 
 Section 2.02 Loans and Borrowings. 

(a) Borrowings; Several Obligations. The Loans shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in
accordance with their respective Commitments on the Effective Date. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments are
several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 
 (b) Types of Loans.
Subject to Section 3.03, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or
foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 

  
 23 

 (c) Minimum Amounts; Limitation on Number of Borrowings. At the commencement of each
Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000. Borrowings of more than one Type may be outstanding at the same time;
provided that there shall not at any time be more than one (1) Eurodollar Borrowing outstanding (except that additional Interest Periods may apply to Incremental Term Loans as provided in the definition of “Interest Period”).
Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 

(d) Notes. Any Lender may request that Loans made by it be evidenced by a single promissory note. In such event, the Borrower shall
prepare, execute and deliver to such Lender a promissory note payable to such Lender or its registered assigns in substantially the form of Exhibit A, dated, in the case of (i) any Lender party hereto as of the date of this Agreement, as
of the date of this Agreement and (ii) any Lender that becomes a party hereto pursuant to an Assignment and Assumption, as of the effective date of the Assignment and Assumption, payable to such Lender or its registered assigns in a principal
amount equal to the Loan held by such Lender on such date, and otherwise duly completed. If the amount of any Lender’s Loan is decreased for any reason (whether pursuant to Section 12.04(b) or otherwise), the Borrower shall upon
request deliver or cause to be delivered on the effective date of such decrease, a new Note payable to any Lender who requested a Note hereunder in a principal amount equal to the amount of any Lender’s Loan after giving effect to such
decrease, and otherwise duly completed, and such Lender agrees to promptly thereafter return the previously issued Note held by such Lender marked canceled or otherwise similarly defaced. The date, amount, Type, interest rate and, if applicable,
Interest Period of each Loan made by each Lender that receives a Note, and all payments made on account of the principal thereof, shall be recorded by such Lender on its books for its Note, and, prior to any transfer, may be recorded by such Lender
on a schedule attached to such Note or any continuation thereof or on any separate record maintained by such Lender. Failure to make any such notation or to attach a schedule shall not affect any Lender’s or the Borrower’s rights or
obligations in respect of such Loans or affect the validity of such transfer by any Lender of its Note. 
 Section 2.03 Requests for
Borrowings. To request a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone or by written Borrowing Request in substantially the form of Exhibit B and signed by the Borrower (a “written Borrowing
Request”), not later than 12:00 noon, New York, New York time, three (3) Business Days before the date of the proposed Borrowing. Each telephonic and written Borrowing Request shall be irrevocable and each telephonic Borrowing Request
shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:

 (i) the aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be the Effective Date; 

(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; 

(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be the period contemplated by
the definition of the term “Interest Period”; and 

  
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 (v) the location and number of the Borrower’s account to which funds are to be disbursed,
which shall comply with the requirements of Section 2.05. 
 If no election as to the Type of Borrowing is specified, then the requested
Borrowing shall be an ABR Borrowing. Each Borrowing Request shall constitute a representation that the amount of the requested Borrowing shall not cause (a) the aggregate amount of the Loans to exceed the total Commitments. Promptly following
receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.

 Section 2.04 Interest Elections. 

(a) Conversion and Continuance. Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the
case of a Eurodollar Borrowing, shall have an initial Interest Period as specified pursuant to Section 2.03. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case
of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section 2.04. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion
shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

(b) Interest Election Requests. To make an election pursuant to this Section 2.04, the Borrower shall notify the
Administrative Agent of such election by telephone or by a written Interest Election Request in substantially the form of Exhibit C and signed by the Borrower (a “written Interest Election Request”) by the time that a
Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each telephonic and written Interest Election
Request shall be irrevocable and each telephonic Interest Election Request shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent. 

(c) Information in Interest Election Requests. Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and, if
different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to Section 2.04(c)(iii) and
(iv) shall be specified for each resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest
Election Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving
effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 
 If any such Interest Election
Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

  
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 (d) Notice to Lenders by the Administrative Agent. Promptly following receipt of an
Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) Effect of Failure to Deliver Timely Interest Election Request and Events of Default on Interest Election. If the Borrower fails to
deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing
shall be converted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing: (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing (and any
Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective) and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR
Borrowing at the end of the Interest Period applicable thereto. 
 Section 2.05 Funding of Borrowings. 

(a) Funding by Lenders. Each Lender shall make its Loan on the Effective Date by wire transfer of immediately available funds by
2:00 p.m., New York, New York time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly
crediting or wire transferring the amounts so received, in like funds, to one or more accounts designated by the Borrower in the applicable Borrowing Request. 

(b) Presumption of Funding by the Lenders. Unless the Administrative Agent shall have received notice from a Lender prior to the
Effective Date that such Lender will not make available to the Administrative Agent such Lender’s Loan, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with
Section 2.05(a) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the Loans available to the Administrative Agent, then the
applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but
excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on
interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such
Borrowing. 
 Section 2.06 Termination of Commitments. The Commitments shall terminate on the earlier of (a) the funding of
the Loans by the Lenders or (b) 3:00 p.m. New York City time on December 31, 2014. 
 Section 2.07 Incremental
Facility. 
 (a) General. The Borrower and any one or more Lenders (including New Lenders) may from time to time agree that such
Lenders shall make Incremental Term Loans by executing and delivering to the Administrative Agent an Increased Facility Activation Notice specifying (i) the amount of such increase, (ii) the applicable Increased Facility Closing Date and
(iii) (A) the amortization schedule and maturity date for such Incremental Term Loans, which shall comply with this Section 2.07 and Section 3.01(b), and (B) the Applicable Margin for such Incremental Term
Loans; provided, that if the Applicable Margin (calculated for both the Incremental Term Loans and the Initial Term Loans, including 

  
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any interest rate floors) in respect of any Incremental Term Loans exceeds the Applicable Margin for the Initial Term Loans, then the Applicable Margin for the Initial Term Loans shall be
increased so that the Applicable Margin in respect of the Initial Term Loans is the same as the Applicable Margin for the Incremental Term Loans (it being understood that any increase in the Applicable Margin due to an increase in an interest rate
floor shall be effected solely through an increase in the corresponding interest rate floor for the Initial Term Loans). Notwithstanding the foregoing, (1) the aggregate principal amount of borrowings of Incremental Term Loans shall not exceed
$200,000,000 and (2) without the consent of the Administrative Agent, (x) each increase effected pursuant to this Section 2.07(a) shall be in a minimum amount of at least $10,000,000 and (y) no more than two
(2) Increased Facility Closing Dates may be selected by the Borrower after the Effective Date. No Lender shall have any obligation to participate in any increase described in this Section 2.07(a) unless it agrees to do so in its
sole discretion. 
 (b) New Lender Supplement. Any additional bank, financial institution or other entity which elects to become a
“Lender” under this Agreement in connection with any transaction described in Section 2.07(a) shall execute a New Lender Supplement (each, a “New Lender Supplement”), substantially in the form of
Exhibit H, whereupon such bank, financial institution or other entity (a “New Lender”) shall become a Lender for all purposes and to the same extent as if originally a party hereto and shall be bound by and entitled to
the benefits of this Agreement. 
 (c) Conditions Precedent. The effectiveness of the Incremental Term Loans shall be subject to the
following conditions precedent: 
 (i) no Default or Event of Default shall have occurred and be continuing on the date of the effectiveness
of the Incremental Term Loan and no Default or Event of Default would occur as a result of the effectiveness of the Incremental Term Loan; 

(ii) each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all
material respects immediately prior to, and after giving effect to, the incurrence of the Incremental Term Loan as if made on and as of each such date except to the extent such representations or warranties are made as of a specified date, in which
case, such representations and warranties shall be true and correct in all material respects as of such date; 
 (iii) after giving pro
forma effect to such Incremental Term Loans the Borrower shall be in compliance with the Financial Covenants then in effect; 
 (iv) the
Administrative Agent shall have received any customary closing documents or information, including legal opinions, board resolutions, officers’ certificates and reaffirmations agreements, reasonably requested by the Administrative Agent, in a
form consistent with those delivered on the Effective Date under Article VI to the extent applicable; 
 (v) the Borrower and
each New Lender shall have executed and delivered to the Administrative Agent a New Lender Supplement and such other agreements and documentation as the Administrative Agent shall reasonably specify to evidence the New Lender becoming a Lender
hereunder, and this Agreement and the other Loan Documents shall have been amended in accordance with Section 2.07(d); 
 (vi)
the Incremental Term Loans shall (A) rank pari passu in right of payment with the Initial Term Loans, (B) shall be secured on a pari passu basis with the Initial Term Loans and (C) and shall not be secured by any Collateral or
guaranteed by any Guarantor other than the Collateral that secures the Initial Term Loans and the Guarantors that guarantee the Initial Term Loans;; 

  
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 (vii) the Incremental Term Loans shall (A) not have a maturity date prior to the Maturity
Date and (B) have a weighted average life to maturity no shorter than that of the Initial Term Loans; 
 (viii) each issuance of
Incremental Term Loans shall be an additional tranche of Loans under this Agreement; 
 (ix) the Increased Facility Effective Date of any
Incremental Term Loans shall be within 60 days of the Effective Date; 
 (x) the other terms and the documentation in respect of any
Incremental Terms Loan, to the extent not consistent in all material respects with the terms of the Initial Term Loans, shall be otherwise reasonably satisfactory to the Administrative Agent and the Majority Initial Lenders; and 

(xi) such other conditions, if any, as the Borrower, Incremental Term Lenders, the Lead Investor and Administrative Agent may agree. 

(d) Amendments. Notwithstanding anything to the contrary in this Agreement, each of the parties hereto hereby agrees that, on each
Increased Facility Activation Date, this Agreement shall be amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Incremental Term Loans evidenced thereby. Any such deemed amendment may be effected in
writing by the Administrative Agent and the Borrower and furnished to the other parties hereto. 
 ARTICLE III 

PAYMENTS OF PRINCIPAL AND INTEREST; PREPAYMENTS; FEES 

Section 3.01 Repayment of Loans. 

(a) Term Loans. The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then
unpaid principal amount of each Loan in quarterly installments on the last Business Day of March, June, September and December of each year, commencing December 31, 2014, in an aggregate amount equal to (a) one-fourth of one percent
(0.25%) of the initial principal balance of the Loans as of the Effective Date less (b) the amount of any prepayment applied to such installment under Section 3.04(c)(ii), with all unpaid principal being due and payable in full on
the Maturity Date. 
 (b) Incremental Term Loans. The Borrower hereby unconditionally promises to pay to the Administrative Agent for
the account of the applicable Incremental Term Loan Lenders, an amount to be agreed between the such Incremental Term Loan Lenders and the Borrower, with all unpaid principal being due and payable in full on the date agreed between the Incremental
Term Loan Lenders and the Borrower which date shall be on or after the Maturity Date. 
 Section 3.02 Interest. 

(a) ABR Loans. The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Margin for ABR
Borrowings, but in no event to exceed the Highest Lawful Rate. 

  
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 (b) Eurodollar Loans. The Loans comprising each Eurodollar Borrowing shall bear interest
at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin for Eurodollar Borrowings, but in no event to exceed the Highest Lawful Rate. 

(c) Post-Default Rate. Notwithstanding the foregoing, if (i) an Event of Default specified in Section 10.01(a),
10.01(b), 10.01(h) or 10.01(i) has occurred and is continuing, or (ii) the Majority Lenders so elect (or direct the Administrative Agent to so elect) in connection with the occurrence and continuance of any other Event of
Default, then in each case all Indebtedness outstanding shall bear interest, after as well as before judgment, at a rate per annum equal to three percent (3%) plus the rate otherwise applicable to such Loans including the Applicable Margin
applicable with respect to such Loans), but in no event to exceed the Highest Lawful Rate. 
 (d) Interest Payment Dates. Accrued
interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Termination Date; provided that (i) interest accrued pursuant to Section 3.02(c) shall be payable on demand,
(ii) in the event of any repayment or prepayment of any Loan, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event of any conversion of any
Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 

(e) Interest Rate Computations. All interest hereunder shall be computed on the basis of a year of 360 days, unless such
computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), except that interest computed by reference to the Alternate Base Rate at times when
the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but
excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

 Section 3.03 Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurodollar Borrowing: 

(a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do
not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate for such Interest Period; or 
 (b) the Administrative Agent is advised by
the Majority Lenders that the Adjusted LIBO Rate or LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest
Period; 
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable
thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or
continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing. 

Section 3.04 Prepayments. 

  
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 (a) Optional Prepayments. The Borrower shall have the right at any time and from time to
time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b). 
 (b) Notice
and Terms of Optional Prepayment. The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder not later than 12:00 noon., New York, New York time, three Business Days before the date of
prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid. Promptly following receipt of any such notice relating to a Borrowing, the
Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in
Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments under Section 3.04 shall be accompanied by accrued interest to the extent required by
Section 3.02 and any premium, if any, required by Section 3.04(d). 
 (c) Mandatory Prepayments. 

(i) Subject to the terms of the Intercreditor Agreement and to the extent not required to be used either to prepay the First Lien Revolving
Credit Agreement (with an accompanying reduction of the Borrowing Base) in order to remain in compliance thereunder or to cash collateralize obligations thereunder, substantially as such requirements are provided in the First Lien Revolving Credit
Agreement as in effect on the date hereof, or to satisfy the Liquidity and Compliance Requirements: 
 (A) if the Borrower or
any Restricted Subsidiary, Transfers any Property (other than as permitted under Sections 9.12(a), (b), (e) or (f) and other than Excluded Transfers), Liquidates any Hedging Agreement or receives any Net Cash Proceeds as a
result of a Casualty Event (from insurance proceeds or otherwise), the Borrower shall, on or prior to the fifth Business Day following receipt by the Borrower or any Restricted Subsidiary of Net Cash Proceeds of such Transfer or Casualty Event or
the seventh Business Day following receipt by the Borrower or any Restricted Subsidiary of Net Cash Proceeds of such Liquidation, either (I) prepay the Loans as contemplated by Section 3.04(c)(ii), together with interest and
premium, if any, on the amount so prepaid, in amount equal to the Asset Sale Prepayment Percentage of the Net Cash Proceeds of all such Transfers, Liquidations or Casualty Events (the “Asset Sale Prepayment Amount”) and/or (II)
elect, by written notice to the Administrative Agent (which written notice shall include certifications by a Financial Officer of clauses (1), (2) and (3) of the following proviso), to reinvest all or any portion of
such Asset Sale Prepayment Amount in Oil and Gas Properties and Additional Oil and Gas Assets; provided, that such option to reinvest shall only be available with respect to 

(x) $50,000,000 of Net Cash Proceeds from Transfers, Liquidations or Casualty Events consummated after the Effective Date but
on or before June 30, 2015, so long as (1) no Default or Event of Default has occurred and is continuing at the time of such Transfer, Liquidation or Casualty Event, (2) after giving effect to such Transfer, Liquidation or Casualty
Event and after also giving effect to the proposed reinvestment, the Proved Reserves Coverage Ratio shall be no less than 1.10:1.00 and (3) all such Net Cash Proceeds are reinvested on or before June 30, 2015 and 

(y) $200,000,000 of Net Cash Proceeds (including Net Cash Proceeds reinvested pursuant to the preceding clause (x)) from
Transfers, Liquidations or Casualty Events after the Effective Date (provided that if the Borrower or its Subsidiaries have 

  
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consummated a Transfer of assets located in the Aneth Field, the reinvestment option in this clause (y) shall be limited to the lesser of (i) $200,000,000 (including Net Cash
Proceeds reinvested pursuant to the preceding clause (x)) and (i) 30% of the implied value of the total assets of the Borrower and its Restricted Subsidiaries located in the Aneth Field (based on the sale price for such Transfer but determined
prior to giving effect to such Transfer)), so long as (1) no Default or Event of Default has occurred and is continuing at the time of such Transfer, Liquidation or Casualty Event, (2) after giving effect to such Transfer, Liquidation or
Casualty Event and after also giving effect to the proposed reinvestment, the Proved Reserves Coverage Ratio shall be no less than 1.75:1.00, the Proved Developed Reserves Coverage Ratio shall be no less than 1.25:1.00, and the Total Net Secured
Leverage Ratio shall be no greater than 3.0 to 1.0, and (3) such reinvestment is consummated within 180 days of the receipt of any Net Cash Proceeds from the Transfer, Liquidation or Casualty Event (as certified by a Responsible Officer of
the Borrower concurrently with such reinvestment); provided, further that if any Net Cash Proceeds of any Transfer, Liquidation or Casualty Event remains 180 days after the receipt of such proceeds (or in the case of Net Cash Proceeds
from Transfer, Liquidation or Casualty Event described in clause (x) above, such Net Cash Proceeds remain after June 30, 2015), the Borrower shall immediately make a prepayment of the Loans in the remaining amount of such Net Cash
Proceeds, and 
 (B) if the Borrower or any Restricted Subsidiary issues or incurs any Debt (including Debt to refinance the
Loans in whole or in part) other than any Net Cash Proceeds from the incurrence of Debt permitted pursuant to Sections 9.02(a), 9.02(c), 9.02(d), 9.02(e), 9.02(g), 9.02(h) and 9.02(i), the
Borrower shall simultaneously with the receipt of Net Cash Proceeds from such issuance or incurrence by such Loan Party or such Subsidiary, apply an amount equal to 100% of such Net Cash Proceeds to prepay outstanding Loans. 

(ii) Each prepayment of Borrowings pursuant to Section 3.04(a) shall be applied as directed by the Borrower and each prepayment of
Borrowings pursuant to Section 3.04(c) shall be applied pro rata to the remaining amortization payments of the Loans. Prepayments pursuant to Section 3.04(a) or Section 3.04(c) shall be accompanied by
accrued interest to the extent required by Section 3.02. 
 (d) Repayment Premium. Prepayments permitted or required under
this Section 3.04 shall include any amounts due under Section 5.02 and shall otherwise be without premium or penalty, except that any prepayment of principal under Section 3.04(a) or Section 3.04(c)
(other than (i) any prepayment under Section 3.04(c) made with the proceeds of a Transfer, Liquidation or Casualty Event that does not result in a Change in Control and (ii) any prepayment under Section 3.04(a) made
with the proceeds of a Transfer, Liquidation or Casualty Event in excess of the amount of proceeds that are required to prepay the loans pursuant to Section 3.04(c) and Section 3.04(e)): 

(i) made during the period beginning on the Effective Date and ending on the date that is 12 months after the Effective Date shall
include a premium equal to 10.00% of the principal being repaid; 
 (ii) made during the period beginning on the date that is one day after
the date that is 12 months after the Effective Date and ending on the date that is 24 months after the Effective Date shall include a premium equal to 5.00% of the principal being repaid; and 

  
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 (iii) made during the period beginning on the date that is one day after the date that is
24 months after the Effective Date and ending on the date that is 36 months after the Effective Date shall include a premium equal to 2.00% of the principal being repaid. 

For the avoidance of doubt, any prepayment made after the date that is 36 months after the Effective Date, shall not include any premium pursuant to
clauses (i) through (iii) of this Section 3.04(d). Notwithstanding the foregoing, any prepayment made pursuant to the terms of this Agreement (or deemed made due to an acceleration (whether optional or automatic)
of the Indebtedness) shall be accompanied, to the extent that after giving effect to such prepayment the aggregate principal amount of the Loans outstanding is less than fifteen percent (15%) of the highest aggregate principal amount of the
Loans outstanding at any time, with an additional amount (such amount, the “MOIC Amount”), if any, sufficient to achieve a 1.25 to 1.00 multiple of invested capital (“MOIC”) on the aggregate principal amount repaid
since the Effective Date. MOIC shall be calculated based on (i) the sum of all fees, original issue discount, interest, premiums, principal and other payments received in cash by the Lenders in respect of the Indebtedness since the Effective
Date (excluding, for the avoidance of doubt, any reimbursement of out of pocket costs or expenses and any indemnification payments made to the Lenders not in respect of the Indebtedness), as the numerator and (ii) the highest principal amount
at any time outstanding under this Agreement as denominator. 
 (e) Notice of Mandatory Prepayment. With respect to any prepayments of
Net Cash Proceeds of Transfers, Liquidations, Casualty Events or Debt issuances or incurrences that are required under Section 3.04(c), the Borrower shall notify the Administrative Agent and the Lead Investor in writing not later than
12:00 noon., New York, New York time, at least four Business Days before the date of prepayment. Each such notice shall specify the Borrower’s calculation of amount of such Net Cash Proceeds to be prepaid under Section 3.04(c), the
amount of such Net Cash Proceeds to be prepaid under the First Lien Credit Agreement, and the amount of such Net Cash Proceeds required to be retained by the Borrower and the pro forma financial covenants required to be complied with by the Borrower
in order to satisfy the Liquidity and Compliance Requirements. The Borrower will give a similar notice to the First Lien Administrative Agent. Unless either the Lead Investor or the First Lien Administrative Agent gives notice to the Borrower within
three Business Days after receipt of such calculations from the Borrower, specifying in such notice an apparent mistake or omission in the Borrower’s calculations, the Borrower will pay to the Administrative Agent and the First Lien
Administrative Agent the amounts specified in such notice on such date of prepayment. If either the Lead Investor or the First Lien Administrative Agent gives such a notice objecting to the Borrower’s calculations, the Lead Investor and the
Borrower will consult diligently with each other and with the First Lien Administrative Agent to resolve such apparent mistake or omission, and the Borrower’s obligation to make such payments will be suspended (but for no longer than ten
Business Days) until they have together resolved such apparent mistake or omission. The Administrative Agent and the Lenders hereunder may conclusively rely on such certificate until the Administrative Agent receives notice in writing from the
Borrower or the First Lien Administrative Agent to the contrary. 
 (f) Right to Waive. Notwithstanding anything in this Agreement to
the contrary, each Lender, in its sole discretion, may, but is not obligated to, waive the Loan Parties’ requirements to make any prepayments pursuant to Section 3.4(c) with respect to such Lender’s pro rata share of such
prepayment. Upon the dates set forth in this Section 3.4 for any such prepayment, the Borrower shall notify the Administrative Agent of the amount that is available to prepay the Indebtedness (the “Prepayment Amount”).
Promptly after the date of receipt of such notice, the Administrative Agent shall provide written notice (the “First Offer”) to the Lenders of the Prepayment Amount. Any Lender declining such prepayment (a “Declining
Lender”) shall give written notice thereof to the Administrative Agent by 10:00 a.m. New York time no later than two (2) Business Days after the date of such notice from the Administrative Agent. On such date the Administrative
Agent shall then provide written notice 

  
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(the “Second Offer”) to the Lenders other than the Declining Lenders (such Lenders being the “Accepting Lenders”) of the additional amount available (due to such
Declining Lenders’ declining such prepayment) to prepay Indebtedness owing to such Accepting Lenders, such available amount to be allocated on a pro rata basis among the Accepting Lenders that accept the Second Offer. Any Lenders declining
prepayment pursuant to such Second Offer shall give written notice thereof to the Administrative Agent by 10:00 a.m. New York time no later than one (1) Business Day after the date of such notice of a Second Offer. The Borrower shall
prepay the Indebtedness within one Business Day after its receipt of notice from the Administrative Agent of the aggregate amount of such prepayment. Amounts remaining after the allocation of accepted amounts with respect to the First Offer and the
Second Offer to Accepting Lenders shall be retained by the Borrower. 
 Section 3.05 Fees. The Borrower agrees to pay to the
Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent. 

ARTICLE IV 
 PAYMENTS;
PRO RATA TREATMENT; SHARING OF SET-OFFS 
 Section 4.01 Payments Generally; Pro Rata Treatment; Sharing of Set-offs. 

(a) Payments by the Borrower. The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest,
premium or fees, or of amounts payable under Section 5.01, Section 5.02, Section 5.03 or otherwise) prior to 2:00 p.m., New York, New York time, on the date when due, in dollars that constitute immediately
available funds, without defense, deduction, recoupment, set-off or counterclaim. Fees, once paid, shall not be refundable under any circumstances absent manifest error (e.g., as a result of a clerical mistake). Any amounts received after such
time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its
offices specified in Section 12.01, except that payments pursuant to Section 5.01, Section 5.02, Section 5.03 and Section 12.03 shall be made directly to the Persons entitled thereto. The
Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day,
the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars. 

(b) Application of Insufficient Payments. If at any time insufficient funds are received by and available to the Administrative Agent to
pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal then due to such parties.

 (c) Sharing of Payments by Lenders. If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest thereon than the proportion received by any other
Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in
accordance with the aggregate amount of principal of and accrued interest on their respective Loans; provided that (i) if any such participations are purchased and all or any portion of the

  
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payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of
this Section 4.01(c) shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this Section 4.01(c) shall apply). The Borrower consents to the
foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to
such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 

Section 4.02 Presumption of Payment by the Borrower. Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders, as the case may be, severally agrees to repay to the
Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at
the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

Section 4.03 Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by
it pursuant to Section 2.05(b), or Section 4.02 then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the
account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 

Section 4.04 Disposition of Proceeds. The Security Instruments contain an assignment by the Loan Parties unto and in favor of the
Administrative Agent for the benefit of the Lenders, of all of the Loan Parties’ interest in and to production and all proceeds attributable thereto that may be produced from or allocated to the Mortgaged Property. The Security Instruments
further provide in general for the application of such proceeds to the satisfaction of the Indebtedness and other obligations described therein and secured thereby. Notwithstanding the assignment contained in such Security Instruments, unless an
Event of Default has occurred and is continuing (a) the Administrative Agent and the Lenders agree that they will neither notify the purchaser or purchasers of such production nor take any other action to cause such proceeds to be remitted to
the Administrative Agent or the Lenders, but the Lenders will instead permit such proceeds to be paid to the Borrower and its Restricted Subsidiaries and (b) the Lenders hereby authorize the Administrative Agent to take such actions as may be
necessary to cause such proceeds to be paid to the Borrower and/or such Restricted Subsidiaries. 
 ARTICLE V 

INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES; ILLEGALITY 

Section 5.01 Increased Costs. 

(a) Eurodollar Changes in Law. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate); 

  
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 (ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes
described in clauses (c) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves,
other liabilities or capital attributable thereto; or 
 (iii) impose on any Lender or the London interbank market any other condition, cost
or expense (other than Taxes) affecting this Agreement or Eurodollar Loans made by such Lender or participation therein; or 
 and the result of any of the
foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any Eurodollar Loan or to reduce the amount of any sum received or receivable by such Lender or any Recipient
hereunder (whether of principal, interest or otherwise), then upon request the Loan Parties will pay to such Lender or other Recipient such additional amount or amounts as will compensate such Lender or other Recipient for such additional costs
incurred or reduction suffered. 
 (b) Capital Requirements. If any Lender determines that any Change in Law regarding capital or
liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or any lending office of such Lender or such Lender’s holding company, if any capital or liquidity or on the capital or liquidity of such
Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into
consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy and liquidity), then from time to time the Loan Parties will pay to such Lender, as the case may be, such additional
amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered. 
 (c)
Certificates. A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or its holding company, as the case may be, as specified in Section 5.01(a) or (b) shall be delivered to
the Borrower and shall be conclusive absent manifest error. The Loan Parties shall pay such Lender, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof. 

(d) Effect of Failure or Delay in Requesting Compensation. Failure or delay on the part of any Lender to demand compensation pursuant to
this Section 5.01 shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Loan Parties shall not be required to compensate a Lender pursuant to this Section 5.01 for any
increased costs or reductions incurred more than one hundred eighty (180) days prior to the date that such Lender, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such
Lender’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the one hundred eighty (180) day period referred to above shall be
extended to include the period of retroactive effect thereof. 
 Section 5.02 Break Funding Payments. In the event of
(a) the payment of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan into an ABR Loan other
than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto, or (d) the assignment of 

  
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any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 5.04(b), then, in any such event,
the Loan Parties shall compensate each Lender upon request for the loss, cost and expense attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such
Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the prepaid or otherwise affected principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to
such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan),
over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and
period from other banks in the eurodollar market. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section 5.02 and reasonably detailed calculations therefor shall
be delivered to the Borrower and shall be conclusive absent manifest error. The Loan Parties shall pay such Lender the amount shown as due on any such certificate within ten (10) days after receipt thereof. 

Section 5.03 Taxes. 

(a) Payments Free of Taxes. Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be
made without deduction or withholding for any Taxes, except as required by applicable law. (“applicable law” as used in this Section 5.03 shall include FATCA). If any applicable law (as determined in the good faith discretion
of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the
full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such
deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or
withholding been made. 
 (b) Payment of Other Taxes by the Borrower. The Loan Parties shall timely pay to the relevant Governmental
Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

(c) Indemnification by the Borrower. The Loan Parties shall jointly and severally indemnify each Recipient, within 10 days after demand
therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment
to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to
the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

(d) Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within ten days after demand
therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that the Loan Parties have not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan
Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 12.04 relating to 

  
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the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any
Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or
liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan
Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (d). 

(e) Evidence of Payments. As soon as practicable after any payment of Indemnified Taxes by a Loan Party to a Governmental Authority, the
Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent. 
 (f) Status of Lenders. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document
shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the
Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other
documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in this
Section 5.03(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or
expense or would materially prejudice the legal or commercial position of such Lender. 
 (ii) Without limiting the generality of the
foregoing: 
 (A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or
prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender
is exempt from U.S. federal backup withholding Tax, 
 (B) any Foreign Lender shall, to the extent it is legally
entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to
time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 

(1) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax

  
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pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as
applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(2) executed copies of IRS Form W-8ECI; 

(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of
the Code, (x) a certificate substantially in the form of Exhibit J-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder”
of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and
(y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or 
 (4) to the extent a Foreign
Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of
Exhibit J-2 or Exhibit J-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners
of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit J-4 on behalf of each such direct and indirect partner; 

(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative
Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the
Administrative Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be
prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if
such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent
at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code)
and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has
complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the
date of this Agreement. 

  
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 Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or
inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(g) Tax Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as
to which it has been indemnified pursuant to this Section 5.03 (including by the payment of additional amounts pursuant to this Section 5.03), it shall pay to the indemnifying party an amount equal to such refund (but only to
the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the
relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (g) (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this
paragraph (g), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable net
after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with
respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party
or any other Person. 
 (h) Survival. Each party’s obligations under this Section 5.03 shall survive the resignation
or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document. 

Section 5.04 Mitigation Obligations. 

(a) Designation of Different Lending Office. If any Lender requests compensation under Section 5.01, or if a Loan Party is
required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.03, then such Lender shall use reasonable efforts (at the request of the Borrower) to designate a
different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment
(i) would eliminate or reduce amounts payable pursuant to Section 5.01 or Section 5.03, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not
otherwise be disadvantageous to such Lender. The Loan Parties hereby agree to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

(b) Replacement of Lenders. If (i) any Lender requests compensation under Section 5.01 or gives notice of
“Affected Loans” under Section 5.05 or (ii) the Loan Parties are required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.03, then
the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in
Section 12.04(b)), all its interests, rights (other than its existing rights to payments pursuant to Section 5.01 or 5.03) and obligations under this Agreement to an assignee that shall assume such obligations (which
assignee may be another Lender, if a Lender accepts such assignment); provided that (1) if a Lender is removed as a Lender hereunder, the 

  
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Loan Parties have paid such Lender all amounts due and owing under this Agreement and the other Loan Documents, including, without limitation, all principal, accrued interest, fees, breakage
costs and the prepayment premium or required MOIC under Section 3.04(d) as if the Loans of such Lender had been prepaid in accordance with Section 3.04(a), (2) in the case of a required assignment of interest, the
Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (3) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans,
accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or a Loan Party (in the case of all other amounts), (4) in the
case of any such assignment resulting from a claim for compensation under Section 5.01 or payments required to be made pursuant to Section 5.03, such assignment will result in a reduction in such compensation or payments,
(5) the Borrower shall have paid to the Administrative Agent the recordation and processing fee specified in Section 12.04(b)(ii)(C) and (6) such assignment does not conflict with applicable law. A Lender shall not be required
to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

Section 5.05 Illegality. Notwithstanding any other provision of this Agreement, in the event that it becomes unlawful for any
Lender or its applicable lending office to honor its obligation to make or maintain Eurodollar Loans either generally or having a particular Interest Period hereunder, then (a) such Lender shall promptly notify the Borrower and the
Administrative Agent thereof and such Lender’s obligation to make such Eurodollar Loans shall be suspended (the “Affected Loans”) until such time as such Lender may again make and maintain such Eurodollar Loans and (b) all
Affected Loans which would otherwise be made by such Lender shall be made instead as ABR Loans (and, if such Lender so requests by notice to the Borrower and the Administrative Agent, all Affected Loans of such Lender then outstanding shall be
automatically converted into ABR Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) ABR Loans, all payments of principal which would otherwise be applied to such
Lender’s Affected Loans shall be applied instead to its ABR Loans. 
 ARTICLE VI 

CONDITIONS PRECEDENT 

Section 6.01 Effective Date. This Agreement shall not become effective until the date on which each of the following conditions is
satisfied (or waived in accordance with Section 12.02) to the satisfaction of the Administrative Agent in form and substance: 

(a) The Administrative Agent, the Arranger and the Lenders shall have received all fees and other amounts due and payable on or prior to the
Effective Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder. 

(b) The Administrative Agent shall have received a certificate of the Secretary or an Assistant Secretary of each Loan Party setting forth
(i) resolutions of its board of directors (or its equivalent) with respect to the authorization of such party to execute and deliver the Loan Documents to which it is a party and to enter into the transactions contemplated in those documents,
(ii) the officers (or its equivalent) of it (x) who are authorized to sign the Loan Documents to which it is a party and (y) who will, until replaced by another officer or officers (or its equivalent) duly authorized for that purpose,
act as its representative for the purposes of signing documents and giving notices and other communications in connection with this Agreement and the Transactions contemplated hereby, (z) specimen signatures of such authorized officers (or its
equivalent), and (iii) the Organizational Documents of it, certified as being true and complete. The Administrative Agent and the Lenders may conclusively rely on such certificate until the Administrative Agent receives notice in writing from
the applicable Loan Party to the contrary. 

  
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 (c) The Administrative Agent shall have received certificates of the appropriate State agencies
(in the jurisdiction of organization of such Loan Parties and, if requested by the Administrative Agent, in any jurisdiction in which such Loan Party is qualified to do business) with respect to the existence, qualification and good standing of each
Loan Party. 
 (d) The Administrative Agent shall have received a compliance certificate which shall be substantially in the form of
Exhibit D, duly and properly executed by a Responsible Officer of the Borrower and dated as of the date of Effective Date. 
 (e)
The Administrative Agent shall have received from each party hereto counterparts (in such number as may be requested by the Administrative Agent) of this Agreement signed on behalf of such party. 

(f) The Administrative Agent shall have received a certificate of insurance coverage of the Borrower evidencing that the Loan Parties are
carrying insurance in accordance with Section 7.13. 
 (g) The Administrative Agent shall have received a certificate of a
Responsible Officer of the Borrower (i) certifying that (A) the Loan Parties have received all consents and approvals required by Section 7.03, and such consents and approvals shall be in full force and effect, (B) no
default or event of default under the agreements governing any Material Debt of the Loan Parties has occurred and is continuing, (C) the representations and warranties of Borrower and the Restricted Subsidiaries in this Agreement (including
without limitation the representations as to solvency in Section 7.23) or any of the other Loan Documents, as applicable, are true and correct in all material respects, (D) that no Default or Event of Default then exists, (E) since
December 31, 2013, nothing has occurred which has had, or could reasonably be expected to have, a Material Adverse Effect, (F) there shall have been no material adverse change to the financial statements referred to in
Section 6.01(o) and (G) after giving effect to the Loans and other Transactions contemplated hereby, the Borrower and its Consolidated Restricted Subsidiaries are Solvent, and (ii) attaching copies of the First Lien Credit
Agreement, the Guaranty and Collateral Agreement thereunder, and the mortgages and deeds of trust thereunder certified as being true and complete. 

(h) The Administrative Agent shall have received duly executed Notes payable to each Lender that has requested a Note in a principal amount
equal to its Loans dated as of the date hereof. 
 (i) The Administrative Agent shall have received from each party thereto duly executed
counterparts (in such number as may be requested by the Administrative Agent) of the Security Instruments and applicable amendments thereto, including the Guaranty and Collateral Agreement and the other Security Instruments described on
Exhibit F. In connection with the execution and delivery of the Security Instruments and applicable amendments, the Administrative Agent shall: 

(i) be reasonably satisfied that the Security Instruments create second priority, perfected Liens (with priority subject only to Liens
permitted by the terms of by Section 9.03 or operation of law to have priority) on Oil and Gas Properties constituting Collateral under the First Lien Revolving Credit Agreement; 

(ii) subject to the Intercreditor Agreement, have received any notes or instruments to be pledged duly endorsed to the Administrative Agent;
and 

  
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 (iii) subject to the Intercreditor Agreement, have received certificates, together with undated,
blank stock powers for each such certificate, representing all of the issued and outstanding Equity Interests of each of the Loan Parties (if certificated) other than the Borrower. 

(j) The Administrative Agent (acting on behalf of the Lenders), Resolute Aneth and NNOG, shall have executed and delivered a Subordination
Agreement, in form and substance reasonably satisfactory to the Administrative Agent. 
 (k) The Administrative Agent shall be reasonably
satisfied with (i) title to the proved Oil and Gas Properties of the Loan Parties and (ii) the environmental condition of the Oil and Gas Properties of the Loan Parties. 

(l) [Reserved]. 

(m) The Administrative Agent shall have received appropriate (i) UCC search certificates reflecting no prior Liens encumbering the
Properties of the Loan Parties for all jurisdictions requested by the Administrative Agent, other than those being assigned or released on or prior to the Effective Date or Liens permitted by Section 9.03 and (ii) judgment searches
for all jurisdictions requested by the Administrative Agent. 
 (n) The Administrative Agent shall have received (i) an opinion
addressed to the Administrative Agent and the Lenders from (A) Thompson & Knight, LLP, special counsel to the Loan Parties, (B) Michael N. Stefanoudakis, general counsel of the Loan Parties, (C) R. Dennis Ickes, special
Utah counsel to the Loan Parties, (D) special Wyoming counsel to the Loan Parties, and (E) and special New Mexico counsel to the Loan Parties; and (ii) a memo addressed to the Administrative Agent and the Lenders from R. Dennis
Ickes addressing certain legal issues concerning Navajo lands. 
 (o) The Administrative Agent shall have received (i) audited
consolidated financial statements (including consolidated balance sheets and the related statements of income, stockholder’s equity and cash flows) of the Borrower and its Consolidated Subsidiaries for the fiscal years ended December 31,
2012 and December 31, 2013, and (ii) unaudited consolidated financial statements (including consolidated balance sheets and the related statements of income, stockholder’s equity and cash flows) of the Borrower and its Consolidated
Subsidiaries for the fiscal quarters ending March 31, 2014, June 30, 2014 and September 30, 2014, in each case, in form and substance reasonably satisfactory to the Administrative Agent and not materially different from those
previously provided to the Administrative Agent. 
 (p) The Administrative Agent shall have received an executed counterpart of the Account
Designation Letter. 
 (q) The Administrative Agent shall have received all information and instructions requested for the flow of funds
memorandum. 
 (r) After giving effect to the Loans and the other Transactions contemplated hereby: (i) the Borrower and its Restricted
Subsidiaries have no Debt or preferred equity outstanding except (A) the Loans, (B) the First Lien Debt in an amount not to exceed the First Lien Cap, and (C) other Debt permitted under Section 9.02, (ii) the
Borrowing Base shall be no less than $480,000,000 less the aggregate principal amount of the Loans to be made on the Effective Date, and (iii) the Borrower shall have availability under the First Lien Revolving Credit Agreement of at least
$85,000,000. 

  
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 (s) The Administrative Agent shall have received a Borrowing Request in accordance with
Section 2.03. 
 (t) The Administrative Agent and the Lenders shall have received, and be reasonably satisfied in form and
substance with, all documentation and other information required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including but not restricted to the USA PATRIOT Act.

 (u) The Administrative Agent shall have received executed counterparts of an amendment to the First Lien Documents in order to permit the
transactions contemplated by this Agreement in form and substance acceptable to the Lenders. 
 (v) The Borrower shall, or shall cause one or
more of its Restricted Subsidiaries, to enter into the Required Hedging Agreements in accordance with the terms of Section 8.18. 

(w) The Administrative Agent shall have received such other documents as the Administrative Agent or its special counsel may reasonably
request. 
 The Administrative Agent shall notify the Lenders of the Effective Date, and such notice shall be conclusive and binding; provided, that
the Effective Date shall not occur after January 2, 2015. 
 ARTICLE VII 

REPRESENTATIONS AND WARRANTIES 

Each Loan Party represents and warrants to the Lenders that: 

Section 7.01 Organization; Powers. Each Loan Party is duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization, has all requisite power and authority, and has all material governmental licenses, authorizations, consents and approvals necessary, to own its assets and to carry on its business as now conducted, and is qualified
to do business in, and is in good standing in, every jurisdiction where such qualification is required, except where failure to have such power, authority, licenses, authorizations, consents, approvals and qualifications could not reasonably be
expected to have a Material Adverse Effect. 
 Section 7.02 Authority; Enforceability. The Transactions are within each Loan
Party’s corporate, partnership or LLC powers and have been duly authorized by all necessary action (including, without limitation, any action required to be taken by any class of directors (or its equivalent) or owners or other Person, whether
interested or disinterested, in order to ensure the due authorization of the Transactions). Each Loan Document to which a Loan Party is a party has been duly executed and delivered by such Loan Party and constitutes a legal, valid and binding
obligation of such Loan Party, as applicable, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, 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. 
 Section 7.03 Approvals; No
Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority or any other third Person (including shareholders, equity holders or any class of
directors or managers, whether interested or disinterested, of any Loan Party or any other Person), nor is any such consent, approval, registration, filing or other action necessary for the validity or enforceability of any Loan Document or the
consummation of the transactions contemplated thereby, except such as have been obtained or made and are in full force and effect other than (i) the recording and filing of the Security Instruments as 

  
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required by this Agreement, (ii) those third party approvals or consents which, if not made or obtained, would not cause a Default hereunder and could not reasonably be expected to have a
Material Adverse Effect and (iii) those consents of Governmental Authorities that are customarily obtained after the Effective Date, including without limitation those consents set forth on Schedule 7.03, (b) will not violate
any applicable law or regulation of any Loan Party or any order of any Governmental Authority in any way that could reasonably be expected to have a Material Adverse Effect, (c) will not violate or result in a default under any Organizational
Document of any Loan Party or any indenture or other agreement regarding Debt of $1,000,000 or more binding upon any Loan Party or its Properties, or give rise to a right thereunder to require any payment to be made by any Loan Party, (d) will
not violate or result in a default under any other agreement or instrument binding upon any Loan Party or its Properties, or give rise to a right thereunder to require any payment to be made by any Loan Party, in any way that could reasonably be
expected to have a Material Adverse Effect, (e) will not result in the creation or imposition of any Lien on any Property of any Loan Party (other than the Liens created by the Loan Documents), and (f) will not violate, result in a default
or event of default or require any consents under the First Lien Documents or any indenture governing the Senior Notes. 
 Section 7.04
Financial Condition; No Material Adverse Change. 
 (a) The Borrower has heretofore furnished to the Lenders (i) audited
consolidated financial statements of the Borrower and its Consolidated Subsidiaries for the fiscal years ended December 31, 2012 and December 31, 2013, and (ii) unaudited consolidated financial statements of the Borrower and its
Consolidated Subsidiaries for the fiscal quarters ending March 31, 2014, June 30, 2014 and any subsequent fiscal quarter ending at least sixty days prior to the Effective Date, all in form and substance reasonably satisfactory to the
Administrative Agent. Such financial statements described in clauses (i) and (ii) above present fairly, in all material respects, the financial position and results of operations and cash flows of such Persons as of such
dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the unaudited quarterly financial statements. 

(b) Since the date of the last delivery of financial statements pursuant to Section 7.04(a) or Section 8.01,
(i) there has been no event, development or circumstance that has had or could reasonably be expected to have a Material Adverse Effect and (ii) the business of each Loan Party and each Restricted Subsidiary has been conducted in the
ordinary course consistent with past business practices. 
 (c) Except as set forth on Schedule 7.21, on the most recent
financial statement delivered pursuant to Section 7.04(a) or Section 8.01(a) or (b), or in a certificate delivered pursuant to Section 8.01(e), no Loan Party has any Debt (including Disqualified Capital Stock) not
permitted under Section 9.02, or any material contingent liabilities, material off-balance sheet liabilities, material and unusual forward or long-term commitments, or unrealized or anticipated material losses from any unfavorable
commitments. 
 Section 7.05 Litigation. 

(a) Except as set forth on Schedule 7.05, there are no actions, suits, investigations or proceedings by or before any arbitrator or
Governmental Authority pending against or, to the knowledge of any Loan Party, threatened in writing against or affecting any Loan Party or any Subsidiary (i) as to which there is a reasonable possibility of an adverse determination that, if
adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve any Loan Document or the Transactions. 

  
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 (b) Since the date of this Agreement, there has been no change in the status of the matters
disclosed in Schedule 7.05 that, individually or in the aggregate, has resulted in a Material Adverse Effect or has resulted in a reasonable possibility of an adverse determination that, if adversely determined, could reasonably be
expected, individually, or in the aggregate, to result in a Material Adverse Effect. 
 Section 7.06 Environmental Matters.
Except as could not reasonably be expected to have a Material Adverse Effect (or with respect to (c), (d) and (e) below, where the failure to take such actions could not be reasonably expected to have a Material Adverse Effect): 

(a) neither any Property of a Loan Party or any Subsidiary nor the operations conducted thereon violate any order or requirement of any court
or Governmental Authority or any Environmental Laws. 
 (b) no Property of a Loan Party or any Subsidiary nor the operations currently
conducted thereon or, to the knowledge of any Loan Party, by any prior owner or operator of such Property or operation, are in violation of or subject to any existing, pending or threatened action, suit, investigation, inquiry or proceeding by or
before any court or Governmental Authority or to any remedial obligations under Environmental Laws. 
 (c) all notices, permits, licenses,
exemptions, approvals or similar authorizations, if any, required to be obtained or filed in connection with the operation or use of any and all Property of each Loan Party and each Subsidiary, including, without limitation, past or present
treatment, storage, disposal or release of a hazardous substance, oil and gas waste or solid waste into the environment, have been duly obtained or filed, and each Loan Party and each Subsidiary are in compliance with the terms and conditions of all
such notices, permits, licenses and similar authorizations. 
 (d) to the knowledge of each Loan Party, all hazardous substances, solid waste
and oil and gas waste, if any, generated at any and all Property of each Loan Party or any Subsidiary have in the past been transported, treated and disposed of in accordance with Environmental Laws and so as not to pose an imminent and substantial
endangerment to public health or welfare or the environment, and in transporting, treating or disposing of the same all such transport carriers and treatment and disposal facilities have been and are operating in compliance with Environmental Laws
so as not to pose an imminent and substantial endangerment to public health or welfare or the environment, and are not the subject of any existing, pending or threatened action, investigation or inquiry by any Governmental Authority in connection
with any Environmental Laws. 
 (e) each Loan Party has taken all steps reasonably necessary to determine and has determined that no oil,
hazardous substances, solid waste or oil and gas waste, have been disposed of or otherwise released and there has been no threatened release of any oil, hazardous substances, solid waste or oil and gas waste on or to any Property of each Loan Party
or any Subsidiary except in compliance with Environmental Laws and so as not to pose an imminent and substantial endangerment to public health or welfare or the environment. 

(f) to the extent applicable, all Property of each Loan Party and each Subsidiary currently satisfies all design, operation, and equipment
requirements imposed by the OPA, and each Loan Party does not have any reason to believe that such Property, to the extent subject to the OPA, will not be able to maintain compliance with the OPA requirements during the term of this Agreement. 

  
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 (g) no Loan Party nor any Subsidiary has any known contingent liability or Remedial Work in
connection with any release or threatened release of any oil, hazardous substance, solid waste or oil and gas waste into the environment. 

Section 7.07 Compliance with the Laws and Agreements; No Defaults. 

(a) Each Loan Party and each Restricted Subsidiary is in compliance with all Governmental Requirements applicable to it or its Property and all
agreements and other instruments binding upon it or its Property, and possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations necessary for the ownership of its Property and the conduct of its
business, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(b) No Loan Party is in default nor has any event or circumstance occurred which, but for the expiration of any applicable grace period or the
giving of notice, or both, would constitute a default or would require any Loan Party to Redeem or make any offer to Redeem under any indenture, note, credit agreement or instrument pursuant to which any Material Debt is outstanding or by which the
Loan Party or any of their Properties is bound. 
 (c) No Default has occurred and is continuing. 

Section 7.08 Investment Company Act. No Loan Party nor any Subsidiary is an “investment company” or a company
“controlled” by an “investment company,” within the meaning of, or subject to regulation under, the Investment Company Act of 1940, as amended. 

Section 7.09 [Reserved]. 

Section 7.10 Taxes. Each Loan Party and each Subsidiary has timely filed or caused to be filed all Tax returns and reports
required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which each Loan Party or such Subsidiary, as
applicable, has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that the failure to do so could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. The
charges, accruals and reserves on the books of each Loan Party and each Subsidiary in respect of Taxes and other governmental charges are, in the reasonable opinion of such Loan Party, adequate. No Tax Lien has been filed and, to the knowledge of
each Loan Party, no claim is being asserted with respect to any such Tax or other such governmental charge. 
 Section 7.11
ERISA. 
 (a) Each Loan Party, each Subsidiary and each ERISA Affiliate have complied in all material respects with ERISA and, where
applicable, the Code regarding each Plan. 
 (b) Each Plan is, and has been, maintained in substantial compliance with ERISA and, where
applicable, the Code. 
 (c) Except as could not reasonably be expected to result in liability in excess of $500,000, no act, omission or
transaction has occurred which could result in imposition on each Loan Party, any Subsidiary or any ERISA Affiliate (whether directly or indirectly) of (i) either a civil penalty assessed pursuant to subsections (c), (i) or (l) of
section 502 of ERISA or a tax imposed pursuant to Chapter 43 of Subtitle D of the Code or (ii) breach of fiduciary duty liability damages under section 409 of ERISA. 

  
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 (d) No Plan (other than a defined contribution plan) or trust created under any such Plan has
been terminated since September 2, 1974. No liability to the PBGC (other than for the payment of current premiums which are not past due) by any Loan Party, any Subsidiary or any ERISA Affiliate has been or is expected by any Loan Party, any
Subsidiary or any ERISA Affiliate to be incurred with respect to any Plan. No ERISA Event with respect to any Plan has occurred. 
 (e) Full
payment when due has been made of all amounts which each Loan Party, each Subsidiary or each ERISA Affiliate is required under the terms of each Plan or applicable law to have paid as contributions to such Plan as of the date hereof, and no funding
deficiency (as defined in section 302 of ERISA and section 412 of the Code), whether or not waived, exists with respect to any Plan. 

(f) The actuarial present value of the benefit liabilities under each Plan does not, as of the end of each Loan Party’s most recently
ended fiscal year, exceed the current value of the assets (computed on a plan termination basis in accordance with Title IV of ERISA) of such Plan allocable to such benefit liabilities. The term “actuarial present value of the benefit
liabilities” shall have the meaning specified in section 4041 of ERISA. 
 (g) No Loan Party, no Subsidiary and no ERISA Affiliate
sponsors, maintains, or contributes to an employee welfare benefit plan, as defined in section 3(1) of ERISA, including, without limitation, any such plan maintained to provide benefits to former employees of such entities, that may not be
terminated by a Loan Party, a Subsidiary or an ERISA Affiliate in its sole discretion at any time without any material liability to any Loan Party. 

(h) No Loan Party, no Subsidiary and no ERISA Affiliate sponsors, maintains or contributes to, or has at any time in the six-year period
preceding the date hereof sponsored, maintained or contributed to, any Multiemployer Plan. 
 (i) No Loan Party, no Subsidiary and no ERISA
Affiliate has provided security under section 436 of the Code that has not been released with respect to a Plan. 
 Section 7.12
Disclosure; No Material Misstatements. Each Loan Party has disclosed to the Administrative Agent and the Lenders all agreements, instruments and corporate or other restrictions to which it or any Restricted Subsidiary is subject, and all
other matters peculiar to it and known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. Taken as a whole, none of the other reports, financial statements, certificates or other
information furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender or any of their Affiliates in connection with the negotiation of this Agreement or any other Loan Document or delivered hereunder or under any other
Loan Document (as modified or supplemented by other information so furnished) contain material misstatements of fact or omit to state material facts necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading; provided that, with respect to projected financial information, prospect information, geological and geophysical data and engineering projections, each Loan Party represents only that such information was prepared in
good faith based upon assumptions believed to be reasonable at the time. To the knowledge of each Loan Party, there is no fact peculiar to such party or any Subsidiary which could reasonably be expected to have a Material Adverse Effect or in the
future is reasonably likely to have a Material Adverse Effect and which has not been set forth in this Agreement or the Loan Documents or the other documents, certificates and statements furnished to the Administrative Agent or the Lenders by or on

  
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behalf of each Loan Party or any Subsidiary in connection with the transactions contemplated hereby. There are no statements or conclusions known to any Loan Party in any Reserve Report which are
based upon or include misleading information or fail to take into account material information regarding the matters reported therein, it being understood that projections concerning volumes attributable to the Oil and Gas Properties and production
and cost estimates contained in each Reserve Report are necessarily based upon professional opinions, estimates and projections and that each Loan Party and each Subsidiary do not warrant that such opinions, estimates and projections will ultimately
prove to have been accurate. 
 Section 7.13 Insurance. Each Loan Party has (a) all insurance policies sufficient for the
compliance by each of them with all material Governmental Requirements and all material agreements and (b) insurance coverage in at least amounts and against such risk (including, without limitation, public liability) that are usually insured
against by companies similarly situated and engaged in the same or a similar business for the assets and operations of each Loan Party. The Administrative Agent and the Lenders have been named as an additional insured in respect of such liability
insurance policies and the Administrative Agent has been named as loss payee with respect to Property loss insurance. 
 Section 7.14
Restriction on Liens. No Loan Party is a party to any material agreement or arrangement (other than leases creating Liens permitted by Section 9.03(b) or (c), but then only on the Property subject of such lease), or subject
to any order, judgment, writ or decree, which either restricts or purports to restrict its ability to grant Liens to the Administrative Agent and the Lenders on or in respect of their Properties to secure the Indebtedness and the Loan Documents.

 Section 7.15 Subsidiaries. Except as set forth on Schedule 7.15 or as disclosed in writing to the Administrative
Agent (which shall promptly furnish a copy to the Lenders), which shall be a supplement to Schedule 7.15, (a) each Loan Party has no Subsidiaries, (b) each Subsidiary is a Wholly-Owned Subsidiary and (c) no Loan Party nor
any Subsidiary of the Borrower has any Foreign Subsidiaries. Schedule 7.15 identifies each Subsidiary as either a Restricted Subsidiary or an Unrestricted Subsidiary. 

Section 7.16 Location of Business and Offices. The jurisdiction of organization, the name as listed in the public records of the
state of organization and the organizational identification number of each Loan Party is set forth on Schedule 7.16 (or, in each case, as set forth in a notice delivered to the Administrative Agent pursuant to Section 8.01(m)
in accordance with Section 12.01). Each Loan Party’s principal place of business is located at the address specified in Section 12.01 (or as set forth in a notice delivered pursuant to Section 8.01(m) and
Section 12.01(c)). 
 Section 7.17 Properties; Titles, Etc. 

(a) Except as disclosed in Schedule 7.17, the Loan Parties have good and defensible title in all material respects to the proved
Oil and Gas Properties evaluated in the most recently delivered Reserve Report (excluding, to the extent this representation and warranty is deemed to be made after the Effective Date, any such Oil and Gas Properties sold or transferred in
compliance with Section 9.12) and good title in all material respects to all their personal Properties, in each case, free and clear of all Liens except Liens permitted by Section 9.03. After giving full effect to the
Excepted Liens, each Loan Party specified as the owner owns the net interests in production attributable to the Hydrocarbon Interests as reflected in the most recently delivered Reserve Report, and the ownership of such Properties shall not in any
material respect obligate any Loan Party to bear the costs and expenses relating to the maintenance, development and operations of each such Property in an amount in excess of the working interest of each Property set forth in the most recently
delivered Reserve Report that is not offset by a corresponding proportionate increase in the Loan Party’s net revenue interest in such Property. 

  
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 (b) All material leases and agreements necessary for the conduct of the business of each Loan
Party are valid and subsisting, in full force and effect, and there exists no default or event or circumstance which with the giving of notice or the passage of time or both would give rise to a default under any such lease or leases, which could
reasonably be expected to result in a Material Adverse Effect. 
 (c) The rights and Properties presently owned, leased or licensed by each
Loan Party including, without limitation, all easements and rights of way, include all rights and Properties necessary to permit each Loan Party to conduct its business in all material respects in the same manner as such business has been conducted
prior to the date hereof. 
 (d) All of the material Properties of each Loan Party which are reasonably necessary for the operation of their
businesses are in good working condition and are maintained in accordance with prudent business standards. 
 (e) Each Loan Party owns, or is
licensed to use, all trademarks, tradenames, copyrights, patents and other intellectual Property material to its business, and the use thereof by each Loan Party does not infringe upon the rights of any other Person, except for any such
infringements that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. Each Loan Party either owns or has valid licenses or other rights to use all databases, geological data, geophysical data,
engineering data, seismic data, maps, interpretations and other technical information used in their businesses as presently conducted, subject to the limitations contained in the agreements governing the use of the same, which limitations are
customary for companies engaged in the business of the exploration and production of Hydrocarbons, with such exceptions as could not reasonably be expected to have a Material Adverse Effect. 

Section 7.18 Maintenance of Properties. Except for such acts or failures to act as could not be reasonably expected to have a
Material Adverse Effect, (a) the proved Oil and Gas Properties of the Loan Properties (and Properties unitized therewith) have been maintained, operated and developed in a good and workmanlike manner and in conformity with all Government
Requirements and in conformity with the provisions of all leases, subleases or other contracts comprising a part of the Hydrocarbon Interests and other contracts and agreements forming a part of the Oil and Gas Properties of the Loan Parties, and
(b) the other Oil and Gas Properties of the Loan Parties (and Properties unitized therewith) have been held by the Loan Parties in conformity with all Government Requirements and in conformity with the provisions of all leases, subleases and
other contracts and agreements forming a part of the Oil and Gas Properties of the Loan Parties. Specifically in connection with the foregoing, except for those as could not be reasonably expected to have a Material Adverse Effect, (i) no
proved Oil and Gas Property of the Loan Parties is subject to having allowable production reduced below the full and regular allowable (including the maximum permissible tolerance) because of any overproduction (whether or not the same was
permissible at the time) and (ii) to the knowledge of each Loan Party, none of the wells comprising a part of the proved Oil and Gas Properties (or Properties unitized therewith) of the Loan Parties is deviated from the vertical more than the
maximum permitted by Government Requirements, and such wells are, in fact, bottomed under and are producing from, and the well bores are wholly within, the proved Oil and Gas Properties (or in the case of wells located on Properties unitized
therewith, such unitized Properties) of the Loan Parties. All pipelines, wells, gas processing plants, platforms and other material improvements, fixtures and equipment owned in whole or in part by each Loan Party that are necessary to conduct
normal operations are being maintained in a state adequate to conduct normal operations, and with respect to such of the foregoing that are operated by each Loan Party, in a manner consistent with each Loan Party’s past practices (other than
those the failure of which to maintain in accordance with this Section 7.18 could not reasonably be expect to have a Material Adverse Effect). 

  
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 Section 7.19 Gas Imbalances, Prepayments. Except as set forth on Schedule 7.19
or as set forth on the most recent certificate delivered pursuant to Section 8.12(c), on a net basis there are no gas imbalances, take or pay or other prepayments which would require any Loan Party to deliver Hydrocarbons produced from
the proved Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor exceeding 500 mmcf equivalent in the aggregate for all Loan Parties. 

Section 7.20 Marketing of Production. Except for contracts listed and in effect on the date hereof on Schedule 7.20 or
thereafter either disclosed in writing to the Administrative Agent or included in the most recently delivered Reserve Report (with respect to all of which contracts each Loan Party represents that it is receiving a price for all production sold
thereunder which is computed substantially in accordance with the terms of the relevant contract and is not having deliveries curtailed substantially below the subject Property’s delivery capacity), no material agreements exist which are not
cancelable on sixty (60) days notice or less without penalty or detriment for the sale of production from its Hydrocarbons (including, without limitation, calls on or other rights to purchase, production, whether or not the same are currently
being exercised) that (a) pertain to the sale of production at a fixed price and (b) have a maturity or expiry date of longer than six (6) months. 

Section 7.21 Hedging Agreements. Schedule 7.21 sets forth, as of the date hereof, a true and complete list of all
Hedging Agreements of the Loan Parties, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), all credit support agreements relating thereto other than the Loan Documents (including
any margin required or supplied) and the counterparty to each such agreement. After the date hereof, each report that has been delivered by the Borrower pursuant to Section 8.01(e) sets forth the same information, as well as any
additional information required by Section 8.01(e), as of the date(s) specified therein. 
 Section 7.22 Use of
Loans. The proceeds of the Loans shall be used to refinance loans outstanding under the First Lien Revolving Credit Agreement, to pay fees, commissions and expenses in connection with the Transactions contemplated hereby, and to finance ongoing
working capital and for other general corporate purposes of the Borrower and its Restricted Subsidiaries. The Loan Parties and the Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending
credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan will be used for any purpose which violates the
provisions of Regulations T, U or X of the Board. 
 Section 7.23 Solvency. Before and after giving effect to the
transactions contemplated hereby, (a) the aggregate assets, at a fair valuation, of the Loan Parties, taken as a whole, will exceed the aggregate Debt of the Loan Parties on a consolidated basis, as the Debt becomes absolute and matures,
(b) each of the Loan Parties will not have incurred or intended to incur, and will not believe that it will incur, Debt beyond its ability to pay such Debt as such Debt becomes absolute and matures and (c) each of the Loan Parties will not
have (and will have no reason to believe that it will have thereafter) unreasonably small capital for the conduct of its business. 

Section 7.24 Anti-Terrorism; Anti-Money Laundering; Anti-Corruption. No Loan Party or Subsidiary or, to their knowledge, any of
their Related Parties (i) is an “enemy” or an “ally of the enemy” within the meaning of Section 2 of the Trading with the Enemy Act of the United States (50 U.S.C. App. §§ 1 et seq.), (ii) is in
violation of (A) the Trading with the Enemy Act, (B) any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V) or any enabling legislation or executive order
relating thereto or (C) the Patriot Act (collectively, the “Anti-Terrorism Laws”) or (iii) is a Sanctioned Person. No part of the proceeds of any Loan or Letter of Credit hereunder will be unlawfully used directly or
indirectly (x) to fund any operations in, finance any 

  
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investments or activities in or make any payments to a Sanctioned Person or a Sanctioned Country, or in any other manner that will result in any violation by any Person (including any Lender, the
Arrangers, the Administrative Agent, any Issuing Bank or the Swingline Lender) of any Anti-Terrorism Laws or (y) for the purpose of making any payments to any governmental official or employee, political party, official of a political party,
candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the FCPA or any other applicable antibribery or anti-corruption law.”

 Section 7.25 Foreign Corrupt Practices. No Loan Party or Subsidiary or, to their knowledge, any of their Related Parties, is
aware of or has taken any action, directly or indirectly, that would result in a material violation by such Persons of the FCPA or any other applicable anti-corruption law or regulation, including without limitation, making use of the mails or any
means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value
to any “foreign official” (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and each Loan Party and Subsidiary and, to its
knowledge, each of its Related Parties, has conducted their business in material compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, such
continued material compliance therewith. 
 Section 7.26 Deposit and Securities Accounts. Except as set forth on
Schedule 7.26 or as disclosed in writing to the Administrative Agent, which shall be a supplement to Schedule 7.26, no Loan Party has any Deposit Accounts or Securities Accounts (each, as defined in the Guaranty and Collateral Agreement).

 ARTICLE VIII 

AFFIRMATIVE COVENANTS 

Until the principal of and interest on each Loan and all fees payable hereunder and all other amounts payable under the Loan Documents shall
have been paid in full in cash, each Loan Party covenants and agrees with the Lenders that: 
 Section 8.01 Financial Statements;
Other Information. The Borrower will furnish to the Administrative Agent for further distribution to each Lender: 
 (a) Annual
Financial Statements. As soon as available, but in any event in accordance with then applicable law and not later than the earlier to occur of (i) the fifth (5th) Business Day after the Borrower has filed its annual financial
statements with the SEC and (ii) the date that is one hundred twenty (120) days after the end of each fiscal year of the Borrower, its audited consolidated (and unaudited consolidating) financial statements including the balance sheet and
related statements of operations, equity and cash flows as of the end of and for such year, setting forth in each case in comparative form, the figures for the previous fiscal year, (i) all (other than any such consolidating financial
statements) reported on by KPMG, LLP, PricewaterhouseCoopers, Deloitte Touche, Ernst and Young, or another firm of independent public accountants proposed by the Borrower and approved by the Lead Investor (without a “going concern” or like
qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations
of the Borrower and its Consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied and (ii) in the case of such unaudited consolidating financial statements, certified by a Financial Officer as presenting
fairly in all material respects the financial condition of each such Person reported. 

  
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 (b) Quarterly Financial Statements. As soon as available, but in any event in accordance
with then applicable law and not later than the earlier to occur of (i) the fifth (5th) Business Day after the Borrower files its quarterly financial statements with the SEC and (ii) sixty (60) days after the end of each of the
first three fiscal quarters of each fiscal year of the Borrower, its consolidated financial statements including the balance sheet and related statements of operations, equity and cash flows as of the end of and for such fiscal quarter and the then
elapsed portion of the fiscal year, setting forth in each case in comparative form, the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by a
Financial Officer as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its Consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to
normal year-end audit adjustments and the absence of footnotes. 
 (c) Certificate of Financial Officer - Compliance. Concurrently
with any delivery of financial statements under Section 8.01(a) or Section 8.01(b), a certificate of a Financial Officer in substantially the form of Exhibit D hereto (i) certifying as to whether a Default
has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance with
Section 8.13(b) and Section 9.01, (iii) stating whether any change in GAAP has been applied to the Borrower’s financial statements since December 31, 2013 and, if any such change has occurred, specifying the
effect of such change on the financial statements accompanying such certificate, and (iv) giving notice of any change in the location of any Loan Party’s chief executive office or principal place of business, in any Loan Party’s
federal taxpayer identification number, or in any Loan Party’s Organizational Documents. 
 (d) Certificate of Financial Officer -
Consolidating Information. If, at any time, all of the Consolidated Subsidiaries of the Borrower are not Consolidated Restricted Subsidiaries, then concurrently with any delivery of financial statements under Section 8.01(a) or
Section 8.01(b), a certificate of a Financial Officer setting forth consolidating spreadsheets that show all Unrestricted Subsidiaries that are Consolidated Subsidiaries and the eliminating entries, in such form as would be presentable
to the auditors of the Borrower. 
 (e) Certificate of Financial Officer - Hedging Agreements. Concurrently with the delivery of each
Reserve Report hereunder, a certificate of a Financial Officer, in form and substance reasonably satisfactory to the Administrative Agent, setting forth as of a recent date, a true and complete list of all Hedging Agreements of the Loan Parties, the
material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net mark-to-market value therefor, any new credit support agreements (other than the Loan Documents) relating thereto not listed
on Schedule 7.21, any margin required or supplied under any credit support document, and the counterparty to each such agreement. 

(f) Certificate of Insurer - Insurance Coverage. Concurrently with any delivery of financial statements under
Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the
Administrative Agent, copies of all of the applicable policies. 
 (g) Other Accounting Reports. Promptly upon receipt thereof, a copy
of each other report or letter (except standard and customary correspondence) submitted to any Loan Party by independent accountants in connection with any annual, interim or special audit made by them of the books of a Loan Party or any Subsidiary,
and a copy of any response by any Loan Party or any Subsidiary, or the board of directors (or its equivalent) of any Loan Party or any Subsidiary, to such letter or report. 

  
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 (h) SEC and Other Filings; Reports to Shareholders. Promptly after the same become
publicly available, copies of all periodic and other reports, proxy statements and other materials filed by any Loan Party or any Subsidiary with the SEC, or with any national securities exchange, or distributed by any Loan Party to its shareholders
generally, as the case may be. 
 (i) Notices Under Material Instruments. Promptly after the furnishing thereof, copies of any
financial statement, report or notice furnished to or by any Person pursuant to the terms of any preferred stock designation, indenture, loan or credit or other similar agreement, other than this Agreement and not otherwise required to be furnished
to the Lenders pursuant to any other provision of this Section 8.01. 
 (j) Lists of Purchasers. Concurrently with the
delivery of any Reserve Report to the Administrative Agent pursuant to Section 8.12, a list of Persons purchasing Hydrocarbons from any Loan Party accounting for at least ninety-five percent (95%) of the revenues resulting from the
sale of all Hydrocarbons of all the Loan Parties in the one-year period prior to the “as of” date of such Reserve Report. 
 (k)
Notice of Sales of Oil and Gas Properties, Unwinds of Hedging Agreements. In the event (i) any Loan Party intends to sell, transfer, assign or otherwise dispose of any Oil and Gas Properties with Proved Reserves or any Equity Interests
in any Loan Party that owns Oil and Gas Properties with Proved Reserves (i) for consideration in excess of $15,000,000 or (ii) that would result in Net Cash Proceeds required to be prepaid under Section 3.04(c), prior written
notice of such disposition, the price thereof and the anticipated date of closing, or (ii) any Loan Party Unwinds any Hedging Agreement where the net marked to market economic effect of such Hedging Agreement Restructuring on the date thereof
is negative (i.e. results in a reduction in the value of the Borrower’s hedge book) in the amount of $1,000,000 or more, written notice of such Unwind no later than the day that the parties execute the trade confirmation for such Unwind. 

(l) Notice of Casualty Events. Prompt written notice, and in any event within five (5) Business Days, of the occurrence of any
Casualty Event or the commencement of any action or proceeding that could reasonably be expected to result in a Casualty Event. 
 (m)
Information Regarding Loan Parties. (i) Prompt written notice of (and in any event within ten (10) Business Days after) any change in (A) any Loan Party’s name or (B) any Loan Party’s identity or corporate
structure or jurisdiction of organization, and (ii) prompt written notice of (and in any event within thirty (30) days after) any change in (A) any trade name used to identify any Loan Party in the conduct of its business or in the
ownership of its Properties, (B) the location of any Loan Party’s chief executive office or principal place of business, or (C) any Loan Party’s federal taxpayer identification number. 

(n) Production Report and Lease Operating Statements. Within ninety (90) days after the end of each fiscal quarter, a report
setting forth, for each calendar month during the then current fiscal year to date, the volume of production and sales attributable to production (and the prices at which such sales were made and the revenues derived from such sales) for each such
calendar month from the proved Oil and Gas Properties of the Loan Parties, and setting forth the related ad valorem, severance and production taxes and lease operating expenses attributable thereto and incurred for each such calendar month. 

(o) Notices of Certain Changes. Promptly, but in any event within five (5) Business Days after the execution thereof, copies of any
amendment, modification or supplement to any of the First Lien Loan Documents, the credit agreement, guaranties or security documents for any Permitted Refinancing, or the Organizational Documents of any Loan Party. 

  
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 (p) Calculation of Adjusted PV. In connection with the delivery of each Reserve Report,
the Borrower shall deliver to the Administrative Agent and the Lenders a certificate or report calculating the Adjusted PV10 for the period ending on the “as of” date of such Reserve Report and showing in reasonable detail, each component
of the calculation in compliance with the requirements of the above definitions of “PV10” and “Adjusted PV10”. 
 (q)
Permitted Refinancing Debt Incurrence. Written notice at least five (5) Business Days prior to the incurrence of any Debt pursuant to any Permitted Refinancing, together with the most recent drafts of the credit agreement and each
guaranty or security document for such Permitted Refinancing, and prompt delivery to the Administrative Agent and the Lenders of copies, certified by a Responsible Officer as true and complete, of such credit agreement and each such guaranty or
security document for such Permitted Refinancing following the execution thereof.” 
 (r) Notice of Liens. In the event that the
Borrower or any Subsidiary intends to grant any Lien on any Property to secure any First Lien Debt or Permitted Refinancing, at least fifteen (15) days’ prior written notice thereof to the Administrative Agent (or such shorter time as the
Administrative Agent shall determine in its sole discretion).” 
 (s) Other Requested Information. Promptly following any request
therefor, such other information regarding the operations, business affairs and financial condition of any Loan Party (including, without limitation, any Plan or Multiemployer Plan and any reports or other information required to be filed under
ERISA), or compliance with the terms of this Agreement or any other Loan Document, as the Administrative Agent or the Lead Investor may reasonably request. 

Documents required to be delivered pursuant to Section 8.01(a), (b) or (h) (to the extent any such documents are included
in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s
public website; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial or third-party website and
whether or not sponsored by the Administrative Agent); provided that: (A) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender upon its request to the Borrower to deliver such paper copies until a
written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (B) the Borrower shall notify the Administrative Agent and each Lender of the posting of any such documents and provide to the
Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in
any event shall have no responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

The Administrative Agent may make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively,
“Company Materials”) by posting the Company Materials on Intralinks or another similar electronic system (the “Platform”). The Borrower hereby agrees that certain of the Lenders may elect to be
“public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a “Public Lender”). The Borrower hereby agrees that (w) all
Company Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean 

  
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that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Company Materials “PUBLIC,” the Borrower shall be deemed to have authorized the
Administrative Agent and the Lenders to treat such Company Materials as either publicly available information or not material information (although it may be sensitive and proprietary) with respect to the Borrower or its securities for purposes of
United States Federal and state securities laws; (y) all Company Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor”; and (z) the Administrative
Agent shall be entitled to treat Company Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor.” 

Section 8.02 Notices of Material Events. The Loan Parties will furnish to the Administrative Agent written notice of the following
promptly after any Responsible Officer becomes aware of the following (a copy of which notice the Administrative Agent will forward to the Lenders): 

(a) the occurrence of any Default; 

(b) the filing or commencement of, or the threat in writing of, any action, suit, proceeding, investigation or arbitration by or before any
arbitrator or Governmental Authority against any Loan Party or any of its Subsidiaries not previously disclosed in writing to the Administrative Agent or any material adverse development in any action, suit, proceeding, investigation or arbitration
previously disclosed to the Administrative Agent that, if adversely determined, could reasonably be expected to result in liability of a Loan Party in excess of $3,000,000; 

(c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected to
result in liability of a Loan Party in an aggregate amount exceeding $3,000,000; 
 (d) any other development that results in, or could
reasonably be expected to result in, a Material Adverse Effect; and 
 (e) any default or event of default under any First Lien Loan
Documents or any Permitted Refinancing. 
 Each notice delivered under this Section 8.02 shall be accompanied by a statement of a Responsible
Officer of such Loan Party setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

Section 8.03 Existence; Conduct of Business. Each Loan Party will do or cause to be done all things necessary to preserve, renew
and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business and maintain, if necessary, its qualification to do business in each other jurisdiction in
which its Oil and Gas Properties are located or the ownership of its Properties requires such qualification, except where the failure to so qualify could not reasonably be expected to have a Material Adverse Effect; provided that the
foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 9.11. 

Section 8.04 Payment of Obligations. Each Loan Party will pay its obligations, including Tax liabilities of such Loan Party,
before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings and the Loan Party has set aside on its books adequate reserves with respect
thereto in accordance with GAAP or (b) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect or result in the seizure or levy of any material Property of such Loan Party. 

  
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 Section 8.05 Performance of Obligations under Loan Documents. The Borrower will pay
the Loans according to the reading, tenor and effect thereof, and each Loan Party will do and perform every act and discharge all of the obligations to be performed and discharged by them under the Loan Documents, including, without limitation, this
Agreement, at the time or times and in the manner specified. 
 Section 8.06 Operation and Maintenance of Properties. Except, in
each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect, each Loan Party, at its own expense, will: 

(a)(i) operate its proved Oil and Gas Properties and other material Properties or cause such proved Oil and Gas Properties and other material
Properties to be operated in a careful and efficient manner in accordance with the practices of the industry, (ii) with respect to its Oil and Gas Properties and other material Properties, comply with all applicable contracts and agreements and
with all Governmental Requirements, including, without limitation, applicable proration requirements and Environmental Laws, and all applicable laws, rules and regulations of every other Governmental Authority from time to time constituted to
regulate the development and operation of its proved Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom. 

(b) keep and maintain all Property material to the conduct of its business in good working order and condition, ordinary wear and tear
excepted, preserve and maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) all of its material producing Oil and Gas Properties and other material Properties, including, without limitation, all equipment,
machinery and facilities. 
 (c) promptly pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all
delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its proved Oil and Gas Properties and will do all other things necessary to keep unimpaired their rights with respect
thereto and prevent any forfeiture thereof or default thereunder. 
 (d) promptly perform or make reasonable and customary efforts to cause
to be performed, in accordance with industry standards, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its proved Oil and Gas Properties and other material
Properties. 
 (e) to the extent such Loan Party is not the operator of any Property, such Loan Party shall use reasonable efforts to cause
the operator to comply with this Section 8.06. 
 Section 8.07 Insurance. Each Loan Party will maintain, with
financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations. Subject to the
Intercreditor Agreement, the loss payable clauses or provisions in said insurance policy or policies insuring any of the Collateral for the Loans shall be endorsed in favor of and made payable to the Administrative Agent as its interests may appear
and such policies shall name the Administrative Agent and the Lenders as “additional insureds” and provide that the insurer will endeavor to give at least thirty (30) days prior notice of any cancellation (ten days prior notice due to
cancellation for failure to pay premiums) to the Administrative Agent. 
 Section 8.08 Books and Records; Inspection Rights.
Each Loan Party will keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in 

  
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relation to its business and activities. Each Loan Party will permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect
its Properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times during normal business hours and as often as
reasonably requested on an individual and aggregate basis. 
 Section 8.09 Compliance with Laws. Each Loan Party will comply
with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its Property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect. 
 Section 8.10 Environmental Matters. 

(a) Each Loan Party shall at its sole expense: (i) comply, and shall cause its Properties and operations and each Subsidiary and each
Subsidiary’s Properties and operations to comply, with all applicable Environmental Laws, the breach of which could be reasonably expected to have a Material Adverse Effect; (ii) not dispose of or otherwise release, and shall cause each
Subsidiary not to dispose of or otherwise release, any oil, oil and gas waste, hazardous substance, or solid waste on, under, about or from any of its or any Subsidiaries’ Properties or any other Property to the extent caused by such Loan Party
or any Subsidiary’s operations except in compliance with applicable Environmental Laws, the disposal or release of which could reasonably be expected to have a Material Adverse Effect; (iii) timely obtain or file, and shall cause each of
the Subsidiaries to timely obtain or file, all notices, permits, licenses, exemptions, approvals, registrations or other authorizations, if any, required under applicable Environmental Laws to be obtained or filed in connection with the operation or
use of its or any Subsidiary’s Properties, which failure to obtain or file could reasonably be expected to have a Material Adverse Effect; (iv) promptly commence and diligently prosecute to completion, and shall cause each Subsidiary to
promptly commence and diligently prosecute to completion, any assessment, evaluation, investigation, monitoring, containment, cleanup, removal, repair, restoration, remediation or other remedial obligations (collectively, the “Remedial
Work”) in the event any Remedial Work is required or reasonably necessary under applicable Environmental Laws because of or in connection with the actual or suspected past, present or future disposal or other release of any oil, oil and gas
waste, hazardous substance or solid waste on, under, about or from any of its or any Subsidiary’s Properties, which failure to commence and diligently prosecute to completion could reasonably be expected to have a Material Adverse Effect; and
(v) establish and implement, and shall cause each Subsidiary to establish and implement, such procedures as may be necessary to continuously determine and assure that the Loan Parties’ and the Subsidiaries’ obligations under this
Section 8.10(a) are timely and fully satisfied, which failure to establish and implement could reasonably be expected to have a Material Adverse Effect. 

(b) Each Loan Party will promptly, but in no event later than five (5) Business Days of the occurrence of a triggering event, notify the
Administrative Agent in writing of any threatened action, investigation or inquiry by any Governmental Authority or any threatened demand or lawsuit by any landowner or other third party against such Loan Party or any Subsidiary or their Properties
of which such Loan Party has knowledge in connection with any applicable Environmental Laws (excluding routine testing and corrective action) if such Loan Party reasonably anticipates that such action will result in liability (whether individually
or in the aggregate for all Loan Parties and the Subsidiaries) in excess of $3,000,000, not fully covered by insurance, subject to normal deductibles. 

(c) Each Loan Party will, and will cause each Subsidiary to, undertake reasonable environmental audits and tests upon reasonable request by the
Administrative Agent no more than once per year in the absence of any Event of Default (or as otherwise required to be obtained by the Administrative Agent or the Lenders by any Governmental Authority), in connection with any future acquisitions of
Oil and Gas Properties or other Properties. 

  
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 Section 8.11 Further Assurances. 

(a) Each Loan Party at its expense will promptly execute and deliver to the Administrative Agent all such other documents, agreements and
instruments reasonably requested by the Administrative Agent to comply with, cure any defects or accomplish the conditions precedent, covenants and agreements of such Loan Party, as the case may be, in the Loan Documents or to further evidence and
more fully describe the Collateral intended as security for the Indebtedness, or to correct any omissions in this Agreement or the Security Instruments, or to state more fully the obligations secured therein, or to perfect, protect or preserve any
Liens created pursuant to this Agreement or any of the Security Instruments or the priority thereof, or to make any recordings, file any notices or obtain any consents, all as may be reasonably necessary or appropriate, in the sole discretion of the
Administrative Agent, in connection therewith. 
 (b) Each Loan Party hereby authorizes the Administrative Agent to file one or more
financing or continuation statements, and amendments thereto, relative to all or any part of the Collateral without the signature of such Loan Party where permitted by law. A carbon, photographic or other reproduction of the Security Instruments or
any financing statement covering the Collateral or any part thereof shall be sufficient as a financing statement where permitted by law. 

Section 8.12 Reserve Reports. 

(a) On or before March 1st and September 1st of each year, commencing March 1, 2015, the Borrower shall furnish to the
Administrative Agent and the Lenders a Reserve Report. The Reserve Report as of January 1 to be delivered on March 1 of each year shall be prepared by the Loan Parties and reviewed or audited by one or more Approved Petroleum Engineers,
and the July 1 Reserve Report to be delivered on September 1 of each year shall be prepared by or under the supervision of the chief engineer of the Loan Parties. 

(b) In the event of an interim redetermination under the First Lien Revolving Credit Agreement, the Borrower shall furnish to the
Administrative Agent and the Lenders a copy of the Reserve Report delivered in connection therewith. 
 (c) The delivery of each Reserve
Report pursuant to this Section 8.12 shall be deemed to constitute a representation and warranty by the Borrower on the date thereof that in all material respects: (i) the information contained in such Reserve Report and any other
information delivered in connection therewith is based on information that was prepared in good faith based upon assumptions believed to be reasonable at the time, (ii) with respect to each July 1 Reserve Report, such Reserve Report has
been prepared in accordance with the procedures used in the immediately preceding Reserve Report (after taking into account any required changes to such procedures), (iii) the Loan Parties own good and defensible title to the proved producing
Oil and Gas Properties and good title to the other proved Oil and Gas Properties, in each case, evaluated in such Reserve Report and such Properties are free of all Liens except for Liens permitted by Section 9.03, and (iv) except as
certified to the Administrative Agent in writing, on a net basis there are no gas imbalances, take or pay or other prepayments in excess of the volume specified in Section 7.19 with respect to its proved Oil and Gas Properties evaluated in such
Reserve Report which would require any Loan Party to deliver Hydrocarbons either generally or produced from such Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor. If requested by the
Administrative Agent, with the delivery of each Reserve Report, the Borrower shall provide to the Administrative Agent and the Lenders a certificate from a Responsible 

  
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Officer certifying that to his knowledge, after reasonable inquiry, in all material respects: (i) none of their proved Oil and Gas Properties have been sold since the date of the last
Borrowing Base determination except as set forth on an exhibit to the certificate, which certificate shall list all proved Oil and Gas Properties sold and in such detail as reasonably required by the Administrative Agent, (ii) attached to the
certificate is a list of all marketing agreements with a term of more than one month that have been entered into subsequent to the later of the date hereof or the most recently delivered Reserve Report which the Borrower could reasonably be expected
to have been obligated to list on Schedule 7.20 had such agreement been in effect on the date hereof and (iii) attached thereto is a schedule of the proved Oil and Gas Properties of each Loan Party evaluated by such Reserve Report that are
Mortgaged Properties and demonstrating the percentage of the Borrowing Base that the value of such Mortgaged Properties represent. 

Section 8.13 Title Information. 

(a) On or before the delivery to the Administrative Agent and the Lenders of each Reserve Report required by Section 8.12(a), the
Borrower will deliver title information in form and substance acceptable to the Administrative Agent covering enough of the proved Oil and Gas Properties evaluated by such Reserve Report that were not included in the immediately preceding Reserve
Report, so that the Administrative Agent shall have received together with title information previously delivered, satisfactory title information on at least eighty percent (80%) of the total value of the proved Oil and Gas Properties evaluated
by such Reserve Report. 
 (b) If the Borrower has provided title information for additional Properties under Section 8.13(a),
the Borrower shall, within sixty (60) days of notice from the Administrative Agent that title defects or exceptions exist with respect to such additional Properties, either (i) cure any such title defects or exceptions (including defects
or exceptions as to priority) which are not permitted by Section 9.03, (ii) substitute Mortgaged Properties acceptable to the Administrative Agent with no title defects or exceptions except for Excepted Liens (other than Excepted
Liens described in clauses (e), (g) and (h) of such definition) having an equivalent value or (iii) deliver title information in form and substance acceptable to the Administrative Agent so that it shall have
received, together with title information previously delivered, reasonably satisfactory title information on at least eighty percent (80%) of the total value of the proved Oil and Gas Properties evaluated by such Reserve Report. 

Section 8.14 Additional Collateral; Additional Guarantors. 

(a) In connection with the delivery of each Reserve Report, the Borrower shall review the Reserve Report and the information regarding current
Mortgaged Properties to ascertain whether the proved Oil and Gas Properties that constitute Mortgaged Properties represent (i) one hundred percent (100%) of the proved Oil and Gas Properties held by the Loan Parties in San Juan County,
Utah and (ii) in the aggregate, a percentage of the total value of the proved Oil and Gas Properties evaluated in the most recently completed Reserve Report greater than or equal to the Mortgage Threshold, after giving effect to exploration and
production activities, acquisitions, dispositions and production. In the event that the proved Oil and Gas Properties that constitute Mortgaged Properties do not represent (i) one hundred percent (100%) of the proved Oil and Gas Properties
held by the Loan Parties in San Juan County, Utah and (ii) in the aggregate, a percentage of the total value of the proved Oil and Gas Properties evaluated in the most recently completed Reserve Report greater than or equal to the Mortgage
Threshold, then each Loan Party shall grant to the Administrative Agent as security for the Indebtedness a second-priority Lien interest (with priority subject only to Liens permitted by the terms of by Section 9.03 or operation of law
to have priority)on additional proved Oil and Gas Properties not already subject to a Lien of the Security Instruments such that after giving effect thereto, the proved Oil and Gas Properties that constitute Mortgaged Properties will represent
(i) one hundred percent (100%) of the proved Oil and Gas Properties 

  
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held by the Loan Parties in San Juan County, Utah and (ii) otherwise, a percentage of such total value greater than or equal to the Mortgage Threshold. All such Liens will be created and
perfected by and in accordance with the provisions of mortgages, deeds of trust, security agreements and financing statements or other Security Instruments, all in form and substance satisfactory to the Administrative Agent and in sufficient
executed (and acknowledged where necessary or appropriate) counterparts for recording purposes. 
 (b) The Borrower shall promptly cause each
Domestic Subsidiary (other than any Subsidiary classified as such based on any Loan Party or any other Subsidiary being a general partner thereof, unless such Subsidiary is a Wholly-Owned Subsidiary) now existing or hereafter created or acquired
that is not an Unrestricted Subsidiary to guarantee the Indebtedness pursuant to the Guaranty and Collateral Agreement. In connection with any such guaranty, the Borrower shall, or shall cause each such Domestic Subsidiary to, (A) assume the
obligations under the Guaranty and Collateral Agreement and this Agreement applicable to a Guarantor, by executing and delivering a supplement or joinder to the Guaranty and Collateral Agreement, in form and substance satisfactory to the
Administrative Agent, (B) pledge all of the Equity Interests that it owns in any Loan Party (including, without limitation, delivery of any original stock certificates or other certificates evidencing the Equity Interests of such Loan Party,
together with an appropriate undated stock powers for each certificate duly executed in blank by the registered owner thereof), (C) confirm that it is a “Grantor” under the Intercreditor Agreement by executing and delivering a Joinder
Agreement (as defined in the Intercreditor Agreement) thereto, in form and substance satisfactory to the Administrative Agent, and (D) execute and deliver such other additional closing documents, certificates and legal opinions as shall
reasonably be requested by the Administrative Agent. 
 (c) The Loan Parties will at all times cause the other material Property of the Loan
Parties of the types not addressed by clauses (a) and (b) above to be subject to a perfected Lien (with priority subject only to Liens permitted by the terms of by Section 9.03 or operation of law to have
priority) pursuant to the Security Instruments to the extent that such Lien can be granted and perfected under applicable law and subject to any exceptions set forth in the Security Instruments; provided, that the Administrative Agent may
waive the requirements of this Section 8.14(c), in its sole discretion, with respect to (i) certain Property if the Administrative Agent determines that the cost of obtaining a Lien on such Property is excessive in relation to the
value afforded thereby, (ii) Property with respect to which a Lien cannot be perfected under the Uniform Commercial Code and (iii) deposit account control agreements and security account control agreements. 

(d) The Borrower agrees that it will not, and will not permit any Guarantor to, grant a Lien on any Property to secure the First Lien Debt
without contemporaneously granting to the Administrative Agent, as security for the Indebtedness, a perfected Lien (with priority subject only to Liens permitted by the terms of by Section 9.03 or operation of law to have priority) on
the same Property pursuant to Security Instruments in substantially the same form or otherwise in form and substance reasonably satisfactory to the Administrative Agent. In connection therewith, the Borrower shall, and shall cause each Guarantor to
execute and deliver such other additional closing documents, certificates and legal opinions as shall reasonably be requested by the Administrative Agent. 

(e) The Borrower will cause any Person guaranteeing the First Lien Debt to contemporaneously become a Guarantor hereunder in accordance with
Section 8.14(b). 
 (f) Notwithstanding any provision in any of the Loan Documents to the contrary, in no event is any Building
(as defined in the applicable Flood Insurance Regulations) or Manufactured (Mobile) Home (as defined in the applicable Flood Insurance Regulations) owned by the Borrower or any Restricted Subsidiary included in the Mortgaged Property and no Building
or Manufactured (Mobile) 

  
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Home shall be encumbered by any Security Instrument; provided, that (A) the Borrower’s and Restricted Subsidiaries’ interests in all lands and Hydrocarbons situated under
any such Building or Manufactured (Mobile) Home shall be included in the Mortgaged Property and shall be encumbered by the Security Instruments and (B) the Borrower shall not, and shall not permit any of its Restricted Subsidiaries to, permit
to exist any Lien on any Building or Manufactured (Mobile) Home owned by any of them except Excepted Liens. 
 Section 8.15 ERISA
Compliance. Except as could not reasonably be expected to result in liability of any Loan Party and any Subsidiary of more than $1,000,000 individually or in the aggregate for all Loan Parties and the Subsidiaries, the Borrower will promptly
furnish and will cause the Subsidiaries and any ERISA Affiliate to promptly furnish to the Administrative Agent (i) promptly after the filing thereof with the United States Secretary of Labor, the Internal Revenue Service or the PBGC, copies of
each annual and other report with respect to each Plan or any trust created thereunder, (ii) promptly upon becoming aware of the occurrence of any ERISA Event or of any “prohibited transaction,” as described in section 406 of
ERISA or in section 4975 of the Code, in connection with any Plan or any trust created thereunder, a written notice signed by the President or the principal Financial Officer, the Subsidiary or the ERISA Affiliate, as the case may be, specifying the
nature thereof, what action such Loan Party, the Subsidiary or the ERISA Affiliate is taking or proposes to take with respect thereto, and, when known, any action taken or proposed by the Internal Revenue Service, the Department of Labor or the PBGC
with respect thereto, and (iii) promptly upon receipt thereof, copies of any notice of the PBGC’s intention to terminate or to have a trustee appointed to administer any Plan. With respect to each Plan (other than a Multiemployer Plan)
except as could not reasonably be expected to result in liability to any Loan Party and any Subsidiary of less than $1,000,000 individually or in the aggregate for all Loan Parties and all Subsidiaries, such Loan Party will, and will cause each
Subsidiary and ERISA Affiliate to, (i) satisfy in full and in a timely manner, without incurring any late payment or underpayment charge or penalty and without giving rise to any lien, all of the contribution and funding requirements of section
412 of the Code (determined without regard to subsections (d), (e), (f) and (k) thereof) and of section 302 of ERISA (determined without regard to sections 303, 304 and 306 of ERISA), and (ii) pay, or cause to be paid, to
the PBGC in a timely manner, without incurring any late payment or underpayment change or penalty, all premiums required pursuant to sections 4006 and 4007 of ERISA. 

Section 8.16 Unrestricted Subsidiaries. Each Loan Party: 

(a) will conduct its management, business and affairs in such a manner (including, without limitation, by keeping separate books of account,
furnishing separate financial statements of Unrestricted Subsidiaries to creditors and potential creditors thereof and by not permitting its Properties and that of its respective Restricted Subsidiaries to be commingled) so that each Unrestricted
Subsidiary that is a corporation will be treated as a corporate entity separate and distinct from the Loan Parties. 
 (b) will not incur,
assume, guarantee or be or become liable for any Debt of any of the Unrestricted Subsidiaries. 
 (c) will not permit any Unrestricted
Subsidiary to hold any Equity Interest in, or any Debt of, any Loan Party. 
 Section 8.17 Patriot Act. Each Loan Party shall
promptly, following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender reasonably requests in order to comply with its ongoing obligations under
applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act. 

  
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 Section 8.18 Hedging Agreements. Together with each Reserve Report required to be
delivered under Section 8.12(a), the Borrower shall also deliver a certificate executed by a Responsible Officer certifying (with calculations in detail reasonably acceptable to the Lead Investor) that the Borrower, or one or more of its
Restricted Subsidiaries, have entered into and are maintaining one or more Hedging Agreements in respect of commodities (the “Required Hedging Agreements”), each with an Approved Counterparty, for notional volumes aggregating at
least seventy percent (70.0%) of the reasonably anticipated projected Hydrocarbon production for the then Current Rolling Hedge Period, taken as a whole, from the Borrower and its Restricted Subsidiaries’ total Proved Developed Producing
Reserves. As used herein, “Current Rolling Hedge Period” means, following the delivery of the then most recent Reserve Report under Section 8.12(a), the period beginning on the most recently occurring January 1 or
July 1 and ending two years thereafter. For example, following delivery of the Reserve Report prepared as of January 1, 2015, the Current Rolling Hedge Period will be the period beginning on January 1, 2015 and ending on and including
December 31, 2016; and following the delivery of the Reserve Report prepared as of July 1, 2015, the Current Rolling Hedge Period will be the period beginning on July 1, 2015 and ending on and including June 30, 2017. 

Section 8.19 Annual Budget. The Loan Parties shall submit an Annual Budget to the Lead Investor no later than thirty days prior to
the start of each fiscal year, provided that the Annual Budget for fiscal year 2015 shall be delivered and accepted by the Lead Investor (such acceptance not to be unreasonably withheld, provided that the Lead Investor shall have at least 15 days to
review any proposed Annual Budget before determining whether to accept such Annual Budget) no later than February 15, 2015, and shall not make any expenditure that deviates 15% or more from the amount set forth in the approved Annual Budget
without the written consent of the Lead Investor. 
 ARTICLE IX 

NEGATIVE COVENANTS 
 Until
the principal of, premium on, if any, and interest on each Loan and all fees payable hereunder and all other amounts payable under the Loan Documents have been paid in full in cash, each Loan Party covenants and agrees with the Lenders that: 

Section 9.01 Financial Covenants. 

(a) Proved Reserves Coverage Ratio. The Loan Parties will not, as of the last day of any fiscal quarter permit the Proved Reserves
Coverage Ratio to be less than (i) 1.1 to 1.0 for the fiscal quarters ending December 31, 2014 and March 31, 2015, (ii) 1.25 to 1.0 for the fiscal quarters ending June 30, 2015 and September 30, 2015, and (iii) 1.5
to 1.0 for any fiscal quarter ending on or after December 31, 2015. 
 (b) Proved Developed Reserves Coverage Ratio. The Loan
Parties will not, as of the last day of any fiscal quarter, beginning with the fiscal quarter ending December 31, 2014, permit the Proved Developed Reserves Coverage Ratio to be less than 1.0 to 1.0. 

(c) Total Net Secured Leverage Ratio. The Loan Parties will not, as of the last day of any fiscal quarter, beginning with the fiscal
quarter ending December 31, 2014, permit the Total Net Secured Leverage Ratio to be greater than 3.50 to 1.00. 
 (d) Additional Test
Dates. By notifying the Borrower, the Lead Investor may elect once each calendar year to test the ratios referred to in Sections 9.01(a) and (b) on the date specified by the Lead Investor (such date, an
“Additional Test Date”). Upon such notice to the Borrower, the Borrower shall deliver to the Administrative Agent and the Lenders (i) a Reserve Report audited by an 

  
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Approved Petroleum Engineer with an “as of” date as required by the Lead Investor and (ii) a certificate or report calculating the Adjusted PV10 for the period ending on such
“as of” date and showing in reasonable detail, each component of the calculation in compliance with the requirements of the above definitions of “PV10” and “Adjusted PV10”, each to be delivered no later than sixty
(60) days following the receipt of such request. The Loan Parties will not, as of any such Additional Test Date, permit the Proved Reserves Coverage Ratio to be less than (i) 1.1 to 1.0 for any Additional Test Date occurring during the
period from January 1, 2015 to and including June 29, 2015, (ii) 1.25 to 1.0 for any Additional Test Date occurring during the period from July 1, 2015 to and including December 30, 2015, and (iii) 1.5 to 1.0 for any
Additional Test Date occurring on or after December 31, 2015. In addition, the Loan Parties will not, as of any Additional Test Date on or after December 31, 2014, permit the Proved Developed Reserves Coverage Ratio to be less than 1.0 to
1.0. 
 Section 9.02 Debt. Each Loan Party will not incur, create, assume or suffer to exist any Debt, except: 

(a) The Indebtedness arising under the Loan Documents, including, subject to Section 2.07, any Incremental Term Loans, or any
guaranty of or suretyship arrangement for the Indebtedness arising under the Loan Documents; 
 (b)
[Reserved]; 
 (c) Debt under Capital Leases for compressors or other oil field equipment (excluding
drilling rigs but not work-over rigs) in aggregate principal amount not to exceed 10% of the Borrowing Base then in effect at the time of the incurrence of such Debt; 

(d) Intercompany Debt between any Loan Party and any other Loan Party or between any Loan Party and any Subsidiary to the extent permitted by
Section 9.05(h); provided that any such Debt owed by any Loan Party shall be subordinated to the Indebtedness on terms set forth in the Guaranty and Collateral Agreement; 

(e) Endorsements of negotiable instruments for collection in the ordinary course of business; 

(f) The Senior Notes and any other unsecured Debt (including but not limited to refinancings of the Senior Notes), provided that (i) any
such other unsecured Debt must have a maturity date at least six months after November 1, 2019, and (ii) at the time of issuance or incurrence of such other unsecured Debt, the aggregate consolidated principal amount of all Debt of the
Borrower and its Subsidiaries then outstanding, whether secured or unsecured, that constitutes (A) Indebtedness under the Loan Documents, (B) Debt allowed under this subsection (f), including such unsecured Debt, or
(C) Debt allowed under the following subsection (i) does not exceed $900,000,000; 
 (g) Debt under Synthetic Leases for
compressors or other oil field equipment (excluding drilling rigs but not work-over rigs) to the extent permitted by Section 9.07; 

(h) Other Debt not to exceed $5,000,000 in the aggregate at any one time outstanding; and 

(i) First Lien Debt and any Permitted Refinancing thereof, in an amount not to exceed the First Lien Cap. 

  
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 Notwithstanding the foregoing, under no circumstances shall the Total Secured Debt of the Loan Parties exceed
$500,000,000. It being understood and agreed that the limitation in this paragraph does not permit the incurrence of any Debt other than that permitted by the foregoing clauses (a) through (i) of Section 9.02.

 Section 9.03 Liens. Each Loan Party will not create, incur, assume or permit to exist any Lien on any of its Properties (now
owned or hereafter acquired), except: 
 (a) Liens securing the payment of any Indebtedness; 

(b) Excepted Liens; 
 (c) Liens
securing Capital Leases for compressors or other oil field equipment (excluding drilling rigs but not work-over rigs) permitted by Section 9.02(c) but only on the Property under lease; 

(d) any Lien existing on Property of a Person immediately prior to its being consolidated with or merged into a Loan Party or its becoming a
Restricted Subsidiary, or any Lien existing on any Property acquired by a Loan Party at the time such Property is so acquired, provided that (i) no such Lien shall have been created or assumed in contemplation of such consolidation or
merger or such Person’s becoming a Restricted Subsidiary or such acquisition of Property, and (ii) each such Lien shall extend solely to the item or items of Property so acquired and any other Property which is an improvement or accession
to such acquired Property; 
 (e) Liens on Property not constituting Collateral for the Indebtedness and not otherwise permitted by the
foregoing clauses of this Section 9.03; provided that the principal or face amount of all Debt secured under this Section 9.03(e) shall not exceed $1,000,000 in the aggregate for all Loan Parties; and 

(f) Liens securing the First Lien Debt and any Permitted Refinancings thereof granted in accordance with and subject to the terms of the
Intercreditor Agreement. 
 Section 9.04 Restricted Payments. Each Loan Party will not declare or make, or agree to pay or make,
directly or indirectly, any Restricted Payment except 
 (a) the Loan Parties may make Restricted Payments to each other; 

(b) the Borrower may pay dividends on preferred Equity Interests to the extent that (i) such preferred Equity Interests are not
Disqualified Capital Stock, (ii) both before and after giving effect to any Restricted Payment pursuant to this Section 9.04(b), the Borrower would be in compliance with the Financial Covenants then in effect and (iii) no Event
of Default is continuing; and 
 (c) the Borrower may make other Restricted Payments not to exceed $5,000,000 in the aggregate during any
fiscal year; provided that the Restricted Payments permitted under clause (c) may not be made (i) upon the occurrence and during the continuance of any Event of Default or (ii) if the sum of its unrestricted cash
and unused availability under the First Lien Revolving Credit Agreement, if any, is less than 10% of the Borrowing Base then in effect and provided, further that the aggregate amount of Restricted Payments made pursuant to this
Section 9.04(c) shall not exceed $20,000,000. 
 Section 9.05 Investments. Each Loan Party will not make or permit
to remain outstanding any Investments in or to any Person, except that the foregoing restriction shall not apply to: 
 (a) Investments
existing as of the Effective Date that are reflected in the financial statements of the Borrower for the fiscal quarter ending September 30, 2014 (to the extent that such Investments are reflected on Schedule 9.05) or which are otherwise
disclosed to the Lenders in Schedule 9.05; 

  
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 (b) accounts receivable arising in the ordinary course of business; 

(c) direct obligations of the United States or any agency thereof, or obligations guaranteed by the United States or any agency thereof, in
each case maturing within one year from the date of acquisition thereof; 
 (d) commercial paper maturing within one year from the date of
acquisition thereof rated in the highest grade by S&P or Moody’s; 
 (e) demand deposits, and deposits maturing within one year from
the date of creation thereof, with, including certificates of deposit issued by, (i) any Lender, (ii) any “Lender” under the First Lien Revolving Credit Agreement or (iii) any office located in the United States of any other
bank or trust company which is organized under the laws of the United States or any state thereof, has capital, surplus and undivided profits aggregating at least $100,000,000 (as of the date of such bank or trust company’s most recent
financial reports) and has a short term deposit rating of no lower than A2 or P2, as such rating is set forth from time to time, by S&P or Moody’s, respectively or, in the case of any Foreign Subsidiary, a bank organized in a jurisdiction
in which the Foreign Subsidiary conducts operations having assets in excess of $500,000,000 (or its equivalent in another currency); 
 (f)
deposits in money market funds investing exclusively in Investments described in Section 9.05(c), Section 9.05(d), Section 9.05(e), or Section 9.05(g); 

(g) Repurchase agreements of a commercial bank in the United States or Canada if the commercial paper of such bank or of the bank holding
company of which such bank is a wholly owned subsidiary is rated in the highest rating categories of S&P, Moody’s, or any other rating agency satisfactory to the Majority Lenders, that are fully secured by securities described in
Section 9.05(c); 
 (h) Investments (i) made by a Loan Party in or to any other Loan Party or (ii) made by a Loan Party
or any Restricted Subsidiary in or to any Unrestricted Subsidiary that is a Domestic Subsidiary; provided that the amounts invested by a Loan Party and all Restricted Subsidiaries in the aggregate at any one time outstanding in all such
Unrestricted Subsidiaries shall not exceed $3,000,000; 
 (i) subject to the limits in Section 9.06, Investments in business
units resulting in direct ownership interests in, or Investments to acquire new Restricted Subsidiaries that own, additional Oil and Gas Properties, gas gathering, processing and transportation systems and all other assets related to the business
permitted under Section 9.06 located within the geographic boundaries of the United States of America including the outer continental shelf thereof, so long as, in each case, the Borrower and its Restricted Subsidiaries are in compliance
with the Financial Covenants both before and after giving effect to such Investment; 
 (j) loans and advances to directors, officers and
employees of the Borrower or any Restricted Subsidiary permitted by applicable law not to exceed $250,000 in the aggregate at any time; 

(k) other Investments not to exceed $2,500,000 in the aggregate at any time; and 

  
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 (l) Investments arising from the endorsement of financial instruments in the ordinary course of
business. 
 Section 9.06 Nature of Business; International Operations. Each Loan Party will not allow any material change to be
made in the character of its business as an independent oil and gas exploration and production company with midstream assets. Each Loan Party will not engage in the business of trading Hydrocarbons. From and after the date hereof, each Loan Party
and each Subsidiary will not acquire or make any other expenditure (whether such expenditure is capital, operating or otherwise) in or related to any Oil and Gas Properties not located within the geographical boundaries of the United States
including the outer continental shelf thereof. 
 Section 9.07 Limitation on Operating Leases. Each Loan Party will not create,
incur, assume or suffer to exist any obligation for the payment of rent or hire of Property of any kind whatsoever (real or personal but excluding Capital Leases and leases of Hydrocarbon Interests), under operating leases or lease agreements which
would cause the aggregate amount of all payments made by all Loan Parties pursuant to all such operating leases or lease agreements (including, without limitation, any residual payments at the end of any such lease but excluding any payments not to
exceed $2,500,000 in the aggregate per fiscal year due on termination of any such lease at a Loan Party’s option), to exceed $10,000,000 in any fiscal year. 

Section 9.08 Proceeds of Loans. Each Loan Party will not permit the Loans to be used for any purpose other than those permitted by
Section 7.22. Neither a Loan Party nor any Person acting on behalf of a Loan Party has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board or to
violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect. If requested by the Administrative Agent, such Loan Party will furnish to
the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the
case may be. 
 Section 9.09 ERISA Compliance. Except as could not reasonably be expected to result in liability to the Loan
Parties and the Subsidiaries of more than $500,000 individually or in the aggregate, each Loan Party and the Subsidiaries will not at any time: 

(a) engage in, or permit any ERISA Affiliate to engage in, any transaction in connection with which a Loan Party, a Subsidiary or any ERISA
Affiliate could be subjected to either a civil penalty assessed pursuant to subsections (c), (i) or (l) of section 502 of ERISA or a tax imposed by Chapter 43 of Subtitle D of the Code, if either of which would have a
Material Adverse Effect; 
 (b) terminate, or permit any ERISA Affiliate to terminate, any Plan in a manner, or take any other action with
respect to any Plan, which could reasonably be expected to result in any liability of a Loan Party, a Subsidiary or any ERISA Affiliate to the PBGC; 

(c) fail to make, or permit any ERISA Affiliate to fail to make, full payment when due of all amounts which, under the provisions of any Plan,
agreement relating thereto or applicable law, a Loan Party, a Subsidiary or any ERISA Affiliate is required to pay as contributions thereto if such failure could reasonably be expected to have a Material Adverse Effect; 

(d) permit to exist, or allow any ERISA Affiliate to permit to exist, any accumulated funding deficiency within the meaning of section 302 of
ERISA or section 412 of the Code, whether or not waived, with respect to any Plan which exceeds $500,000; 

  
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 (e) Permit, or allow any ERISA Affiliate to permit, the actuarial present value of the benefit
liabilities under any Plan maintained by a Loan Party, a Subsidiary or any ERISA Affiliate which is regulated under Title IV of ERISA to exceed the current value of the assets (computed on a plan termination basis in accordance with
Title IV of ERISA) of such Plan allocable to such benefit liabilities. The term “actuarial present value of the benefit liabilities” shall have the meaning specified in section 4041 of ERISA. 

(f) contribute to or assume an obligation to contribute to, or permit any ERISA Affiliate to contribute to or assume an obligation to
contribute to, any Multiemployer Plan. 
 (g) acquire, or permit any ERISA Affiliate to acquire, an interest in any Person that causes such
Person to become an ERISA Affiliate with respect to a Loan Party or a Subsidiary or with respect to any ERISA Affiliate of a Loan Party or a Subsidiary if such Person sponsors, maintains or contributes to, or at any time in the six-year period
preceding such acquisition has sponsored, maintained, or contributed to, (i) any Multiemployer Plan, or (ii) any other Plan under which the actuarial present value of the benefit liabilities under such Plan exceeds the current value of the
assets (computed on a plan termination basis in accordance with Title IV of ERISA) of such Plan allocable to such benefit liabilities by any amount in excess of $500,000. 

(h) incur, or permit any ERISA Affiliate to incur, a liability to or on account of a Plan under sections 515, 4062, 4063, 4064, 4201 or
4204 of ERISA. 
 (i) contribute to or assume an obligation to contribute to, or permit any ERISA Affiliate to contribute to or assume an
obligation to contribute to, any employee welfare benefit plan, as defined in section 3(1) of ERISA, including, without limitation, any such plan maintained to provide benefits to former employees of such entities, that may not be terminated by
such entities in their sole discretion at any time without any material liability to any Loan Party. 
 (j) provide or permit any ERISA
Affiliate to provide security with respect to a Plan under section 436 of the Code. 
 Section 9.10 Sale or Discount of
Receivables. Except for receivables obtained by a Loan Party out of the ordinary course of business or the settlement of joint interest billing accounts in the ordinary course of business or discounts granted to settle collection of accounts
receivable or the sale of defaulted accounts arising in the ordinary course of business in connection with the compromise or collection thereof and not in connection with any financing transaction, no Loan Party will discount or sell (with or
without recourse) to any other Person that is not a Loan Party any of its notes receivable or accounts receivable. 
 Section 9.11
Mergers, Etc. No Loan Party will merge into or with or consolidate with any other Person, or sell, lease or otherwise dispose of (whether in one transaction or in a series of transactions) all or substantially all of its Property to any other
Person (any such transaction, a “consolidation”); provided that any Restricted Subsidiary may participate in a consolidation with any Loan Party (provided that a Loan Party shall be the continuing or surviving
corporation) or any other Restricted Subsidiary that is a Domestic Subsidiary (provided that if one of such parties to the consolidation is a Foreign Subsidiary, such Domestic Subsidiary shall be the continuing or surviving Person) and if one
of such Restricted Subsidiaries is a Wholly-Owned Subsidiary, then the surviving Person shall be a Wholly-Owned Subsidiary. 

Section 9.12 Sale of Properties. The Borrower will not, and will not permit any Restricted Subsidiary to, sell, assign, farm-out,
convey or otherwise transfer (collectively, “Transfer”) (i) any Oil 

  
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and Gas Property or any interest in Hydrocarbons produced or to be produced therefrom, (ii) any Gathering System, and (iii) the Equity Interest in any Restricted Subsidiary that owns
any Oil and Gas Property or any Gathering System, except for: 
 (a) the sale of Hydrocarbons in the ordinary course of business; 

(b) the Transfer of equipment in the ordinary course of business or that is no longer necessary for the business of such Loan Party or is
replaced by equipment of at least comparable value and use; 
 (c) Transfers of Oil and Gas Properties to which no Proved Reserves are
attributed and Transfers of all (but not less than all) of the Equity Interests in any Restricted Subsidiary that does not own any Proved Reserves; 

(d) Transfers of Oil and Gas Properties to which Proved Reserves are attributed, Transfers of Gathering Systems and Transfers of Equity
Interests in Restricted Subsidiaries owning any of the foregoing assets, provided in each case that: (i) ninety percent (90%) of the consideration (determined after excluding assumption of liabilities but without duplication of any
reduction in the cash consideration received by the Borrower or its Restricted Subsidiaries on account of such assumption of liabilities) received in respect of such Transfer shall be cash, Cash Equivalents or Oil and Gas Properties; provided
in addition that not less than seventy-five percent (75%) of the consideration received in respect of such Transfer (determined after excluding assumption of liabilities but without duplication of any reduction in the cash consideration
received by the Borrower or its Restricted Subsidiaries on account of such assumption of liabilities) shall be cash or Cash Equivalents, (ii) the consideration received shall be equal to or greater than the fair market value of such Property
Transferred (as reasonably determined by the board of directors (or its equivalent) of the Borrower or, in the case of a transfer for consideration of $7,500,000 or less, a Responsible Officer of the Borrower and, if requested by the Administrative
Agent, the Borrower shall deliver a certificate of a Responsible Officer of the Borrower certifying to that effect), (iii) if such Transfer is a Transfer of Equity Interests in a Restricted Subsidiary, it is a Transfer of all Equity Interests
of such Restricted Subsidiary then owned, directly or indirectly, by the Borrower and (iv) if the fair market value of the Proved Reserves, the Gathering Systems or Equity Interests in Restricted Subsidiaries owning any of the foregoing assets,
as applicable, disposed of in such Transfer is greater than or equal to $50,000,000, the Lead Investor shall have consented to such Transfer (provided that the foregoing consent right shall not apply if the proceeds of such Transfer will be used to
repay the Indebtedness outstanding under this Agreement (including any premium) in full); 
 (e) the sale, trade or other disposition of
seismic, geologic or other data, licenses and similar rights; and 
 (f) Transfers among the Loan Parties; 

provided, that the Net Cash Proceeds of any Transfer of any Property shall be used to prepay the Loans as and to the extent required in accordance with
Section 3.04(c). The Administrative Agent will, upon request and at the expense of the Borrower, release its Liens on (x) any Property (and release any transferred Guarantor from the Guaranty and Collateral Agreement) permitted to
be sold or otherwise transferred under this Section 9.12, or (y) any other Collateral not subject to this Section 9.12 upon the sale or transfer thereof, in each case effective as of the time of the sale or transfer
thereof; provided, that in each case, the Administrative Agent may request and be entitled to rely on a certificate of a Responsible Officer of the Borrower certifying that such sale or transfer is permitted by this Agreement. Although subject to
Section 3.04(c), Casualty Events shall not be considered Transfers restricted by or subject to this Section 9.12. 

  
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 Section 9.13 Environmental Matters. Each Loan Party will not, and will not permit any
Subsidiary to, cause or permit any of its Property to be in violation of, or do anything or permit anything to be done which will subject any such Property to any Remedial Work under any applicable Environmental Laws, assuming disclosure to the
applicable Governmental Authority of all relevant facts, conditions and circumstances, if any, pertaining to such Property where such violations or remedial obligations could reasonably be expected to have a Material Adverse Effect. 

Section 9.14 Transactions with Affiliates. Each Loan Party will not enter into any transaction, including, without limitation, any
purchase, sale, lease or exchange of Property or the rendering of any service, with any Affiliate (other than the Loan Parties) unless such transactions are otherwise permitted under this Agreement or are upon fair and reasonable terms no less
favorable to it than it would obtain in a comparable arm’s length transaction with a Person not an Affiliate. 
 Section 9.15
Subsidiaries. Each Loan Party shall not create or acquire any additional Subsidiaries, except that the Borrower and any of its Restricted Subsidiaries may create or acquire any additional Subsidiaries if the Borrower or such Restricted
Subsidiary gives prior written notice to the Administrative Agent of such creation or acquisition and, if such additional Subsidiary is a Restricted Subsidiary, complies with Section 8.14(b). The Borrower shall not, and shall not permit
any of its Restricted Subsidiaries to, sell, assign or otherwise dispose of any Equity Interests in any Restricted Subsidiary except in compliance with Section 9.12. No Loan Party nor any Subsidiary shall have any Foreign Subsidiaries.

 Section 9.16 Amendments of First Lien Documents and Payments of Senior Notes. 

(a) Except as otherwise permitted by the Intercreditor Agreement, the Borrower will not, and will not permit any Restricted Subsidiary to,
enter into or permit any supplement, modification, amendment or amendment or restatement of, or waive any right or obligation of any Person under the First Lien Documents, that would have the effect of (i) increasing the principal amount of the
First Lien Debt to more than the First Lien Debt Cap, (ii) increasing the yield on the First Lien Debt, after including any original issue discount, upfront or similar fees, to a yield greater than LIBOR plus five percent (5.0%), or providing
for more than two percent (2.0%) of such yield to be attributable to original issue discount or other applicable fees, (iii) extending the final maturity date of the First Lien Debt beyond the Maturity Date under this Agreement, or
(iv) restricting the Borrower from making payments on the Indebtedness that were allowed under the First Lien Documents prior to the making of such supplement, modification, amendment or amendment, restatement, or waiver. 

(b) The Borrower will not, and will not permit any Restricted Subsidiary to, call, make or offer to make any voluntary Redemption or otherwise
voluntarily Redeem in any manner whatsoever (whether in whole or in part) any principal of any Senior Notes or any other Debt permitted under Section 9.02(f). 

Section 9.17 Negative Pledge Agreements; Dividend Restrictions. Each Loan Party will not create, incur, assume or suffer to exist
any contract, agreement or understanding which in any way prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Administrative Agent and the Lenders or restricts any Restricted
Subsidiary from paying dividends or making distributions to any Loan Party, or which requires the consent of or notice to other Persons in connection therewith; provided, however, that the preceding restrictions will not apply to
encumbrances or restrictions arising under or by reason of (a) the Loan Documents, (b) any leases or licenses or similar contracts as they affect any Property or Lien subject to such lease, license or similar contract, (c) any
contract, agreement or understanding creating Liens on Capital Leases or to secure 

  
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purchase money Debt permitted by Section 9.03(c) (but only to the extent related to the Property on which such Liens were created), (d) any restriction with respect to a
Restricted Subsidiary imposed pursuant to an agreement entered into for the direct or indirect sale or disposition of all or substantially all the equity or Property of such Restricted Subsidiary (or the Property that is subject to such restriction)
pending the closing of such sale or disposition or (e) subject to the Intercreditor Agreement, the First Lien Documents. 

Section 9.18 Take-or-Pay or Other Prepayments. Each Loan Party will not receive prepayments in excess of $500,000 outstanding in
the aggregate at any time (whether under take-or-pay contracts or otherwise) with respect to the sale or exchange of Hydrocarbons from Oil and Gas Properties of a Loan Party or any Restricted Subsidiary. 

Section 9.19 Hedging Agreements. Each Loan Party will not enter into any Hedging Agreements with any Person other than: 

(a) Hedging Agreements in respect of commodities (i) with an Approved Counterparty and (ii) which, when aggregated with all other
commodity Hedging Agreements of the Loan Parties then in effect (but excluding all basis differential swaps on volumes already hedged pursuant to other Hedging Agreements), do not have the net effect of constituting a call (whether under physical or
derivative Hedging Agreements) on more than (A) 85% of the reasonably anticipated projected production from proved Oil and Gas Properties of the Loan Parties for the first two years during the period during which such Hedging Agreements are in
effect for each of crude oil and natural gas, calculated separately and (B) the greater of 75% of the reasonably anticipated projected production from proved Oil and Gas Properties of the Loan Parties or 85% of the reasonably anticipated
projected production from proved, developed, producing Oil and Gas Properties of the Loan Parties for the period after such two year period during which such Hedging Agreements are in effect for each of crude oil and natural gas, calculated
separately. In no event shall any Hedging Agreement (1) be entered into for speculative or investment purposes or (2) be for a term of longer than 60 months; provided however, a Hedging Agreement which was entered into as a hedge
but is deemed to be “speculative” for accounting purposes shall not be considered “speculative” under this Section 9.19(a) merely by virtue of such accounting treatment. 

(b) Hedging Agreements in respect of interest rates with an Approved Counterparty, as follows: (i) Hedging Agreements effectively
converting interest rates from fixed to floating, the notional amounts of which (when aggregated and netted with all other Hedging Agreements of the Borrower and its Restricted Subsidiaries then in effect) do not exceed the then outstanding
principal amount of the Borrower’s Debt for borrowed money which bears interest at a fixed rate and (ii) Hedging Agreements effectively converting interest rates from floating to fixed, the notional amounts of which (when aggregated and
netted with all other Hedging Agreements of the Borrower and its Restricted Subsidiaries then in effect) do not exceed (A) for revolving loans, seventy-five (75%) of the then outstanding principal amount of the Borrower’s Debt for
revolving loans which bear interest at a floating rate and (B) for term loans, one hundred percent (100%) of the then outstanding principal amount of the Borrower’s Debt for term loans which bear interest at a floating rate. 

In no event shall any Hedging Agreement to which the Borrower or any of its Restricted Subsidiaries is a party contain any requirement, agreement or covenant
for the Borrower or any Restricted Subsidiary to post cash or other collateral or margin (except for letters of credit not exceeding $4,000,000 in the aggregate at any time and collateral subject to Liens allowed under Section 9.03(d)
and Section 9.03(f)), to secure their obligations under such Hedging Agreement or to cover market exposures. 

Section 9.20 Designation and Conversion of Restricted and Unrestricted Subsidiaries. 

  
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 (a) Unless designated as an Unrestricted Subsidiary on Schedule 7.15 as of the date hereof
or thereafter, assuming compliance with Section 9.20(b), any Person that becomes a Subsidiary of a Loan Party shall be classified as a Restricted Subsidiary. 

(b) The Borrower may designate by written notification thereof to the Administrative Agent, any Restricted Subsidiary, including a newly formed
or newly acquired Subsidiary, as an Unrestricted Subsidiary if (i) neither such Subsidiary nor any of its Subsidiaries owns any Equity Interests or Debt of, or owns or holds any Lien on any Property of, a Loan Party or any other Subsidiary of a
Loan Party that is not a Subsidiary of the Subsidiary to be so designated, (ii) prior, and after giving effect, to such designation, no Default or Event of Default shall have occurred and be continuing, (iii) such designation is deemed to
be an Investment in an Unrestricted Subsidiary in an amount equal to the fair market value as of the date of such designation of the Borrower’s direct and indirect ownership interest in such Subsidiary and such Investment would be permitted to
be made at the time of such designation under Section 9.05(h). Except as provided in this Section 9.20(b), no Restricted Subsidiary may be redesignated as an Unrestricted Subsidiary. 

(c) The Borrower may designate any Unrestricted Subsidiary to be a Restricted Subsidiary if after giving effect to such designation,
(i) after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing and (ii) any Debt of such Subsidiary shall not be secured by Liens at the time of such designation except for Liens permitted
by Section 9.03, and (iv) such Loan Party complies with the requirements of Section 8.14, Section 8.16 and Section 9.15. 

ARTICLE X 
 EVENTS OF
DEFAULT; REMEDIES 
 Section 10.01 Events of Default. One or more of the following events shall constitute an “Event of
Default”: 
 (a) The Borrower shall fail to pay any principal of any when and as the same shall become due and payable, whether at the
due date thereof or at a date fixed for prepayment thereof, by acceleration or otherwise. 
 (b) Any Loan Party shall fail to pay any
interest or premium, if any, on any Loan, or any fee or any other amount (other than an amount referred to in Section 10.01(a)) payable under any Loan Document, when and as the same shall become due and payable, and such failure shall
continue unremedied for a period of three (3) Business Days. 
 (c) Any representation or warranty made or deemed made by or on behalf
of a Loan Party or any Subsidiary in or in connection with any Loan Document or any amendment or modification of any Loan Document or waiver under such Loan Document, or in any report, certificate, financial statement or other document furnished
pursuant to or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made. 

(d) Any Loan Party or any Restricted Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in
Section 8.01, Section 8.02, Section 8.03, Section 8.12, Section 8.13, Section 8.14, Section 8.15, Section 8.16, Section 8.19, or in Article IX.

 (e) Any Loan Party or any Restricted Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in this
Agreement (other than those specified in Section 10.01(a), Section 10.01(b) or Section 10.01(d)) or any other Loan Document, and such failure shall continue unremedied for a period of thirty (30) days after
notice thereof from the Administrative Agent to the Borrower (which notice will be given at the request of the Majority Lenders). 

  
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 (f) Any Loan Party shall fail to make any payment (whether of principal or interest and
regardless of amount) in respect of any Material Debt, when and as the same shall become due and payable, and if there is any applicable cure or grace period, such failure shall continue unremedied beyond the expiration of such cure or grace period.

 (g) Any event or condition occurs that (i) results in any Material Debt becoming due prior to its scheduled maturity (other than a
determination or redetermination of the Borrowing Base that requires the Borrower to make payments under the First Lien Revolving Credit Agreement so long as the Borrower complies with its obligations under the First Lien Revolving Credit Agreement
to make such payments), or requires the Redemption thereof or any offer to Redeem to be made in respect thereof, prior to its scheduled maturity, by a Loan Party, (ii) results in the acceleration of the maturity of the Debt under the First Lien
Revolving Credit Agreement due to breach of any financial covenant thereunder, or (iii) otherwise constitutes an event of default under any Material Debt, the First Lien Revolving Credit Agreement or the Senior Notes that enables or permits the
holder or holders of any the First Lien Debt or any agent on its or their behalf to cause the First Lien Debt to become due, prior to its scheduled maturity, or require a Loan Party to make an offer in respect thereof. 

(h) An involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or
other relief in respect of a Loan Party or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a
receiver, trustee, custodian, sequestrator, conservator or similar official for a Loan Party or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for sixty (60) days or an order
or decree approving or ordering any of the foregoing shall be entered. 
 (i) A Loan Party shall (i) voluntarily commence any proceeding
or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest
in a timely and appropriate manner, any proceeding or petition described in Section 10.01(h), (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for a Loan
Party or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any
action for the purpose of effecting any of the foregoing. 
 (j) A Loan Party shall become unable, admit in writing its inability, or fail
generally to pay its debts as they become due. 
 (k) One or more judgments for the payment of money in an aggregate amount in excess of
$2,500,000 (to the extent not covered by independent third party insurance provided by insurers acceptable to the Administrative Agent as to which the insurer does not dispute coverage and is not subject to an insolvency proceeding) shall be
rendered against a Loan Party or any combination thereof and the same shall remain undischarged for a period of sixty (60) consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a
judgment creditor to attach or levy upon any assets of a Loan Party to enforce any such judgment. 
 (l) The Loan Documents after delivery
thereof shall for any reason, except to the extent permitted by the terms thereof, cease to be in full force and effect and valid, binding and enforceable in accordance with their terms against a Loan Party or the collateral agent, administrative

  
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agent or any lender or, in the case of the Intercreditor Agreement, against any other party thereto, or shall be repudiated, or cease to create a valid and perfected Lien of the priority required
thereby on any of the collateral purported to be covered thereby, except to the extent permitted by the terms of this Agreement, or a Loan Party or any of its Affiliates shall so state in writing. 

(m) An ERISA Event shall have occurred that, in the opinion of the Majority Lenders, when taken together with all other ERISA Events that have
occurred, could reasonably be expected to result in liability of a Loan Party and any Subsidiary in an aggregate amount exceeding $3,000,000 in any year. 

(n) A Change in Control shall occur. 

Section 10.02 Remedies. 

(a) In the case of an Event of Default other than one described in Section 10.01(h) or Section 10.01(i), at any time
thereafter during the continuance of such Event of Default, the Administrative Agent may, and at the request of the Majority Lenders shall, by notice to the Borrower, declare the Loans then outstanding to be due and payable in whole (or in part, in
which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest and premium (including any
MOIC Amount), if any, thereon and all fees and other obligations of the Loan Parties accrued hereunder and the other Loan Documents, shall become due and payable immediately, without presentment, demand, protest, notice of intent to accelerate,
notice of acceleration or other notice of any kind, all of which are hereby waived by each Loan Party; and in case of an Event of Default described in Section 10.01(h) or Section 10.01(i), the principal of the Loans then
outstanding, together with accrued interest and premium (including any MOIC Amount), if any, thereon and all fees and the other obligations of the Loan Parties accrued hereunder and under the Loan Documents, shall automatically become due and
payable, without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other notice of any kind, all of which are hereby waived by each Loan Party. 

(b) In the case of the occurrence of an Event of Default, the Administrative Agent and the Lenders will have all other rights and remedies
available at law and equity. 
 (c) All proceeds realized from the liquidation or other disposition of Collateral or otherwise received after
maturity of the Loans, whether by acceleration or otherwise, shall, subject to the Intercreditor Agreement, be applied to the Indebtedness as follows: 

(i) first, to reimbursement of expenses and indemnities provided for in this Agreement and the Security Instruments; 

(ii) second, to accrued interest and fees, if any, on the Loans; 

(iii) third, pro rata to principal outstanding on the Loans and premium (including any MOIC Amount), if any; 

(iv) fourth, to any other Indebtedness that is then owing; and 

(v) finally, any excess shall be paid to the Borrower or as otherwise required by any Governmental Requirement. 

  
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 ARTICLE XI 

THE AGENTS 

Section 11.01 Appointment; Powers. Each of the Lenders hereby irrevocably (subject to Section 11.06) appoints the
Administrative Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof and the other Loan Documents, together with
such actions and powers as are reasonably incidental thereto. 
 Section 11.02 Duties and Obligations of Administrative Agent.
The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent (a) shall not be subject to any fiduciary or
other implied duties, regardless of whether a Default has occurred and is continuing, (b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except as provided in Section 11.03, and
(c) except as expressly set forth herein, shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Loan Parties or any Subsidiary that is communicated to or obtained by the bank
serving as an Agent or any of its Affiliates in any capacity. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to it by a Loan Party or a Lender, and shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other
document delivered hereunder or under any other Loan Document or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or in any other Loan
Document, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, (v) the satisfaction of any condition set forth in Article VI
or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to it or as to those conditions precedent specifically required to be to its satisfaction, (vi) the existence, value, perfection or priority of any
collateral security or the financial or other condition of the Loan Parties and the Subsidiaries or any other obligor or guarantor, or (vii) any failure by any Loan Party or any other Person (other than itself) to perform any of its obligations
hereunder or under any other Loan Document or the performance or observance of any covenants, agreements or other terms or conditions set forth herein or therein. 

Section 11.03 Action by Administrative Agent. The Administrative Agent shall not have any duty to take any discretionary action or
exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that it is required to exercise in writing as directed by the Majority Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 12.02) and in all cases it shall be fully justified in failing or refusing to act hereunder or under any other Loan Documents unless it shall (a) receive written instructions
from the Majority Lenders or the Lenders, as applicable, (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 12.02) specifying the action to be taken and (b) be
indemnified to its satisfaction by the Lenders against any and all liability and expenses which may be incurred by it by reason of taking or continuing to take any such action. The instructions as aforesaid and any action taken or failure to act
pursuant thereto shall be binding on all of the Lenders. If a Default has occurred and is continuing, then the Administrative Agent shall take such action with respect to such Default as shall be directed by the requisite Lenders in the written
instructions (with indemnities) described in this Section 11.03, provided that, unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such
action, or refrain from taking such action, with respect to such Default as it shall deem advisable in the best interests of the Lenders. In no event, however, shall the Administrative Agent be required to take any action which exposes the
Administrative Agent to personal liability or which is contrary to this Agreement, the Loan 

  
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Documents or applicable law. If a Default has occurred and is continuing, the Arranger shall not have any obligation to perform any act in respect thereof. No Agent shall be liable for any action
taken or not taken by it with the consent or at the request of the Majority Lenders or the Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 12.02), and
otherwise no Agent shall be liable for any action taken or not taken by it hereunder or under any other Loan Document or under any other document or instrument referred to or provided for herein or therein or in connection herewith or therewith
INCLUDING ITS OWN ORDINARY NEGLIGENCE, except for its own gross negligence or willful misconduct as determined in a final, non-appealable judgment by a court of competent jurisdiction. 

Section 11.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any
liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon
any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon and each of the Loan Parties, the Lenders hereby waives the right to dispute the Administrative
Agent’s record of such statement, except in the case of gross negligence or willful misconduct by such Agent. The Administrative Agent may consult with legal counsel (who may be counsel for the Loan Parties), independent accountants and other
experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. The Agents may deem and treat the payee of any Note as the holder thereof for all
purposes hereof unless and until a written notice of the assignment or transfer thereof permitted hereunder shall have been filed with the Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of
any sub-agents except to the extent that a court of competent jurisdiction determined in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents. 

Section 11.05 Subagents. The Administrative Agent may perform any and all its duties and exercise its rights and powers by or
through any one or more sub-agents appointed by it. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the
preceding Sections of this Article XI shall apply to any such sub-agent and to the Related Parties of each Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit
facilities provided for herein as well as activities as Administrative Agent. 
 Section 11.06 Resignation of Agents. Subject to
the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Majority Lenders shall have the right, in
consultation with and upon the approval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheld, to appoint a successor. If no successor shall have been so appointed by the
Majority Lenders and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation , then the retiring Administrative Agent may, on behalf of the Lenders, appoint a
successor Administrative Agent, which shall be a bank with an office in New York, New York or an Affiliate of any such bank. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested
with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. After the Administrative Agent’s resignation hereunder, the provisions of this
Article XI and Section 12.03 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it
was acting as Agent. 

  
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 Section 11.07 Agents as Lenders. Each bank serving as an Agent hereunder shall have
the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial
advisor or in any other advisory capacity for and generally engage in any kind of business with the Loan Parties or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder and without any duty to account therefor to the
Lenders. 
 Section 11.08 No Reliance. (a) Each Lender acknowledges that it has, independently and without reliance upon
the Administrative Agent, any other Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and each other Loan Document to which it
is a party. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent, any other Agent or any other Lender and based on such documents and information as it shall from time to time deem appropriate,
continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document, any related agreement or any document furnished hereunder or thereunder. The Agents shall not be required to keep
themselves informed as to the performance or observance by the Loan Parties or any Subsidiary of this Agreement, the Loan Documents or any other document referred to or provided for herein or to inspect the Properties or books of the Loan Parties or
any Subsidiary. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders by the Administrative Agent hereunder, neither the Agents nor the Arranger shall have any duty or responsibility to
provide any Lender with any credit or other information concerning the affairs, financial condition or business of the Loan Parties (or any of their Affiliates) which may come into the possession of such Agent or any of its Affiliates. Each Lender
hereby acknowledges and, by becoming a party hereto, consents to the fact that Simpson Thacher and Bartlett LLP is acting as special counsel to the Administrative Agent in connection with this transaction. Each other party hereto will consult with
its own legal counsel to the extent it deems necessary in connection with the Loan Documents and the matters contemplated therein. (b) The Lenders acknowledge that the Administrative Agent is acting solely in administrative capacities with
respect to the structuring of this Agreement and has no duties, responsibilities or liabilities under this Agreement and the other Loan Documents other than their administrative duties, responsibilities and liabilities specifically as set forth in
the Loan Documents and, if applicable, in its capacity as Lenders hereunder. In structuring, arranging or syndicating this Agreement, each Lender acknowledges that the Administrative Agent may be a lender under this Agreement, the First Lien Debt,
other loans or other securities and waives any existing or future conflicts of interest associated with the their role in such other debt instruments. If in its administration of this facility or any other debt instrument, the Administrative Agent
determines (or is given written notice by any Lender) that a conflict exists, then it shall eliminate such conflict, if any, within 90 days or resign pursuant to Section 11.06 and shall have no liability for action taken or not
taken while such conflict existed. 
 Section 11.09 Authority to Release Guarantors, Collateral and Liens. Each Lender hereby
authorizes the Administrative Agent to (a) release any Collateral that the Administrative Agent is permitted or required to release pursuant to Section 9.12 or that is otherwise permitted to be sold or released pursuant to the terms
of the Loan Documents, to confirm that expired leases and plugged and abandoned wells are no longer Collateral, and to release from the Guaranty and Collateral Agreements any Guarantor that is permitted to be sold or disposed of, ceases to be a
Restricted Subsidiary, or is converted into an Unrestricted Subsidiary, in each case, pursuant to the terms of the Loan Documents, (b) subordinate (or release) any Lien on any Property granted to or held by the Administrative Agent under any
Loan Document to any Lien on such Property that is permitted by Section 9.03(c) or (d) or (c) execute and deliver to a Loan Party, at such Loan Party’s sole cost and expense, any and all releases of Guaranty and
Collateral Agreements, Liens, termination statements, assignments or other documents reasonably requested by such Loan Party in connection with any sale or other disposition of Property to 

  
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the extent such sale or other disposition or other transaction or the release of such Collateral is permitted by the terms of Section 9.12 or is otherwise authorized by the terms of
the Loan Documents. Upon the request of the Administrative Agent at any time, the Majority Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate particular types or items of Collateral pursuant to this
Section 11.09. Notwithstanding anything contained in any of the Loan Documents to the contrary, no Person other than the Administrative Agent has any right to realize upon any of the Collateral individually, to enforce any Liens on
Collateral, or to enforce the Guaranty and Collateral Agreement, and all powers, rights and remedies under the Security Instruments may be exercised solely by Administrative Agent on behalf of the Persons secured or otherwise benefitted thereby. By
accepting the benefit of the Liens granted pursuant to the Security Instruments, each Person secured by such Liens that is a party hereto agrees to the terms of this Section 11.09. 

Section 11.10 The Arranger. The Arranger shall not have any duties, responsibilities or liabilities under this Agreement and the
other Loan Documents other than its duties, responsibilities and liabilities in its capacity as a Lender hereunder. 
 Section 11.11
Filing of Proofs of Claim. In case of any Default or Event of Default under Section 10.01(g), Section 10.01(h) or Section 10.01(i), the Administrative Agent (regardless of whether the principal of any Loan
shall then be due and payable and regardless of whether the Administrative Agent has made any demand on the Loan Parties) shall be entitled and empowered, by intervention in such proceeding or otherwise: 

(a) to (i) file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all
other Indebtedness that is owing and unpaid and (ii) file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders, the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the Administrative Agent under Section 3.05 and Section 12.03)
allowed in such judicial proceeding; and 
 (b) to collect and receive any monies or other property payable or deliverable on any such claims
and to distribute the same. 
 Each Lender hereby authorizes any custodian, receiver, assignee, trustee, conservator, sequestrator or other similar official
in any such judicial proceeding: (i) to make such payments to the Administrative Agent; and (ii) if the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any
amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Section 3.05 and Section 12.03.
Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Indebtedness or the
rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. Each Lender retains its right to file and prove a claim separately. 

Section 11.12 Intercreditor Agreement. Each Lender (and each Person that becomes a Lender hereunder pursuant to
Section 12.04) hereby (a) acknowledges that it has received a copy of the Intercreditor Agreement, (b) authorizes and directs the Administrative Agent to enter into the Intercreditor Agreement on behalf of such Lender, and
agrees that it may take such actions on its behalf as is contemplated by the terms of the Intercreditor Agreement, (c) authorizes the Administrative Agent to enter into any amendments to the Security Instruments that are necessary in order to
reference the Intercreditor Agreement in such Instruments, and (d) agrees to be bound by the terms of the Intercreditor Agreement. 

  
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 ARTICLE XII 

MISCELLANEOUS 

Section 12.01 Notices. 

(a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to
Section 12.01(b)), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 

(i) if to a Loan Party, to it at Resolute Energy Corporation, 1700 Lincoln, Suite 2800, Denver, Colorado 80203, Attention Theodore Gazulis
(Telecopy No. (415) 461-5045); with a copy to Michael Stefanoudakis at the same address (Telecopy No. (303) 623-3628); 
 (ii) if
to the Administrative Agent, to it at Bank of Montreal, 700 Louisiana Street, Suite 2100, Houston, Texas 77002, Attention Benjamin Dubois (Telecopy No. (713) 223-4007); 

(iii) if to any other Lender, in its capacity as such, to it at its address (or telecopy number) set forth in its Administrative
Questionnaire; and 
 (iv) the Administrative Agent and the Lenders shall be entitled to rely and act upon any notices (including telephonic
Borrowing Requests and other telephonic notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice
specified herein or (ii) the terms of any such unwritten notice varied from any written confirmation thereof. All telephonic notices to and telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and
each of the parties hereby consents to such recording. 
 (b) Notices and other communications to the Lenders hereunder may be delivered or
furnished by electronic communications pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II, Article III, Article IV and
Article V unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. 

(c) Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties
hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 

(d) Public Side Information Contacts. Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender
to have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance
procedures and applicable Law, including the U.S. Federal and state securities Laws, to make reference to Company Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain
material non-public information with respect to the Borrower or its securities for purposes of the 

  
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U.S. Federal or state securities Laws. In the event that any Public Lender has elected for itself to not access any information disclosed through the Platform or otherwise, such Public Lender
acknowledges that (i) the Administrative Agent and other Lenders may have access to such information and (ii) neither the Borrower nor the Administrative Agent or any other Lender with access to such information shall have (A) any
responsibility for such Public Lender’s decision to limit the scope of information it has obtained in connection with this Agreement and the other Loan Documents or (B) any duty to disclose such information to such electing Lender or to
use such information on behalf of such electing Lender, and shall not be liable for the failure to so disclose or use, such information. 

(e) Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE ADMINISTRATIVE AGENT DOES NOT WARRANT THE
ACCURACY OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, WITHOUT LIMITATION, ANY
WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD-PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE ADMINISTRATIVE AGENT IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no
event shall the Administrative Agent or its Related Parties have any liability to the Borrower, any Lender or any other Person or entity for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of the Borrower’s or the Administrative Agent’s transmission of Company Materials through the Platform, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent
jurisdiction by an final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of the Administrative Agent. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any
information or other materials obtained through any Platform or other information transmission systems in connection with the Loan Documents or the transactions contemplated thereby unless determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee. 
 Section 12.02
Waivers; Amendments. 
 (a) No failure on the part of any Agent or any Lender to exercise and no delay in exercising, and no course of
dealing with respect to, any right, power or privilege, or any abandonment or discontinuance of steps to enforce such right, power or privilege, under any of the Loan Documents shall operate as a waiver thereof, nor shall any single or partial
exercise of any right, power or privilege under any of the Loan Documents preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Agents and the Lenders hereunder and
under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by any Loan Party
therefrom shall in any event be effective unless the same shall be permitted by Section 12.02(b), and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the
generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether any Agent or any Lender may have had notice or knowledge of such Default at the time. 

(b) Neither this Agreement nor any provision hereof nor any Security Instrument nor any provision thereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by the Borrower and the Majority Lenders or by the Borrower and the Administrative Agent with the consent of the Majority Lenders; provided that no such agreement shall
(i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the 

  
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principal amount of any Loan, the rate of interest thereon, the amount of amortization payments, the amount any premium thereon, or any fees payable hereunder, without the written consent of each
Lender directly and adversely affected thereby, (iii) postpone the scheduled date of payment of any installment of principal or any interest thereon, or any fees payable hereunder, (iv) waive or excuse any non- payment of principal,
premium or interest on the Loans, or postpone or extend the Maturity Date without the written consent of each Lender directly and adversely affected thereby, (v) change Section 4.01(b) or Section 4.01(c) in a manner that
would alter the pro rata sharing of payments required thereby, without the written consent of each Lender directly and adversely affected thereby, (vi) release all or substantially all of the Guarantors or release all or substantially
all of the Collateral, without the written consent of each Lender, (vii) change any of the provisions of Section 10.02(c), this Section 12.02(b) or the definitions of “Majority Lenders” or any other provision
hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or under any other Loan Documents or to make any determination or grant any consent hereunder or any other Loan Documents, without the
written consent of each Lender directly and adversely affected thereby, (viii) impose any additional restrictions on a Lender’s ability to assign Loans pursuant to Section 12.04, without the written consent of each Lender
directly and adversely affected thereby; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of any Agent hereunder or under any other Loan Document without the prior written consent of
such Agent. Notwithstanding the foregoing, (1) the Borrower and the Administrative Agent may amend this Agreement or any other Loan Document without the consent of the Lenders in order to correct, amend or cure any ambiguity, inconsistency or
defect or correct any typographical error or other manifest error in any Loan Document and (2) the Administrative Agent and the Borrower may enter into any amendment, modification or waiver of this Agreement or any other Loan Document or enter
into any agreement or instrument to effect the granting, perfection, protection, expansion or enhancement of any Lien in any Collateral or Property to become Collateral to secure the Indebtedness for the benefit of the Lenders or as required by any
Governmental Requirement to give effect to, protect or otherwise enhance the rights or benefits of any Lender under the Loan Documents without the consent of any Lender. 

Section 12.03 Expenses, Indemnity; Damage Waiver. 

(a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent, the Arranger and their
Affiliates, including, without limitation, the reasonable fees, charges and disbursements of counsel and other outside consultants for the Administrative Agent, the reasonable travel, photocopy, mailing, courier, telephone and other similar
expenses, and the cost of environmental audits and surveys and appraisals, in connection with the arrangement, syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration (both
before and after the execution hereof and including advice of counsel to the Administrative Agent as to the rights and duties of the Administrative Agent, the Arranger and the Lenders with respect thereto) of this Agreement and the other Loan
Documents and any amendments, modifications or waivers of or consents related to the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all costs, expenses, Taxes,
assessments and other charges incurred by the Administrative Agent in connection with any filing, registration, recording or perfection of any security interest contemplated by this Agreement or any Security Instrument or any other document referred
to therein, and (iii) all out-of-pocket expenses incurred by any Agent or any Lender, including the fees, charges and disbursements of any counsel for any Agent or any Lender, in connection with the enforcement or protection of its rights
during the continuance of an Event of Default in connection with this Agreement or any other Loan Document, including its rights under this Section 12.03, or in connection with the Loans made hereunder, including, without limitation, all
such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

  
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 (b) THE LOAN PARTIES SHALL INDEMNIFY THE ARRANGER, EACH AGENT AND EACH LENDER, AND EACH
RELATED PARTY OF ANY OF THE FOREGOING PERSONS (EACH SUCH PERSON BEING CALLED AN “INDEMNITEE”) AGAINST, AND HOLD EACH INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES, PENALTIES AND RELATED EXPENSES,
INCLUDING THE FEES, CHARGES AND DISBURSEMENTS OF ANY COUNSEL FOR ANY INDEMNITEE, INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF (i) THE EXECUTION OR DELIVERY OF THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR ANY AGREEMENT OR INSTRUMENT CONTEMPLATED HEREBY OR THEREBY, THE PERFORMANCE BY THE PARTIES HERETO OR THE PARTIES TO ANY OTHER LOAN DOCUMENT OF THEIR RESPECTIVE OBLIGATIONS HEREUNDER OR THEREUNDER OR THE CONSUMMATION OF THE
TRANSACTIONS CONTEMPLATED HEREBY OR BY ANY OTHER LOAN DOCUMENT, (ii) THE FAILURE OF THE LOAN PARTIES OR ANY SUBSIDIARY TO COMPLY WITH THE TERMS OF ANY LOAN DOCUMENT, INCLUDING THIS AGREEMENT, OR WITH ANY GOVERNMENTAL REQUIREMENT, (iii) ANY
INACCURACY OF ANY REPRESENTATION OR ANY BREACH OF ANY WARRANTY OR COVENANT OF THE LOAN PARTIES SET FORTH IN ANY OF THE LOAN DOCUMENTS OR ANY INSTRUMENTS, DOCUMENTS OR CERTIFICATIONS DELIVERED IN CONNECTION THEREWITH, (iv) ANY LOAN OR THE USE OF
THE PROCEEDS THEREFROM, (v) THE OPERATIONS OF THE BUSINESS OF THE LOAN PARTIES AND THE SUBSIDIARIES, (vi) ANY ASSERTION THAT THE LENDERS WERE NOT ENTITLED TO RECEIVE THE PROCEEDS RECEIVED PURSUANT TO THE SECURITY INSTRUMENTS,
(vii) ANY ENVIRONMENTAL LAW APPLICABLE TO THE LOAN PARTIES OR ANY SUBSIDIARY OR ANY OF THEIR PROPERTIES, INCLUDING WITHOUT LIMITATION, THE PRESENCE, GENERATION, STORAGE, RELEASE, THREATENED RELEASE, USE, TRANSPORT, DISPOSAL, ARRANGEMENT OF
DISPOSAL OR TREATMENT OF OIL, OIL AND GAS WASTES, SOLID WASTES OR HAZARDOUS SUBSTANCES ON ANY OF THEIR PROPERTIES, (viii) THE BREACH OR NON-COMPLIANCE BY THE LOAN PARTIES OR ANY SUBSIDIARY WITH ANY ENVIRONMENTAL LAW APPLICABLE TO THE LOAN
PARTIES OR ANY SUBSIDIARY, (ix) THE PAST OWNERSHIP BY THE LOAN PARTIES OR ANY SUBSIDIARY OF ANY OF THEIR PROPERTIES OR PAST ACTIVITY ON ANY OF THEIR PROPERTIES WHICH, THOUGH LAWFUL AND FULLY PERMISSIBLE AT THE TIME, COULD RESULT IN PRESENT
LIABILITY, (x) THE PRESENCE, USE, RELEASE, STORAGE, TREATMENT, DISPOSAL, GENERATION, THREATENED RELEASE, TRANSPORT, ARRANGEMENT FOR TRANSPORT OR ARRANGEMENT FOR DISPOSAL OF OIL, OIL AND GAS WASTES, SOLID WASTES OR HAZARDOUS SUBSTANCES ON OR AT
ANY OF THE PROPERTIES OWNED OR OPERATED BY THE LOAN PARTIES OR ANY SUBSIDIARY OR ANY ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS MATERIALS ON OR FROM ANY PROPERTY OWNED OR OPERATED BY THE LOAN PARTIES OR ANY OF ITS SUBSIDIARIES, (xi) ANY
ENVIRONMENTAL LIABILITY RELATED IN ANY WAY TO THE LOAN PARTIES OR ANY SUBSIDIARY, OR (xii) ANY OTHER ENVIRONMENTAL, HEALTH OR SAFETY CONDITION IN CONNECTION WITH THE LOAN DOCUMENTS, OR (xiii) ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION,
INVESTIGATION OR PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BROUGHT BY A THIRD PARTY OR A LOAN PARTY OR AFFILIATE THEREOF, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY THERETO, AND
SUCH INDEMNITY SHALL EXTEND TO EACH INDEMNITEE NOTWITHSTANDING THE SOLE OR CONCURRENT NEGLIGENCE OF EVERY KIND OR CHARACTER WHATSOEVER, WHETHER ACTIVE OR PASSIVE, WHETHER AN 

  
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AFFIRMATIVE ACT OR AN OMISSION, INCLUDING WITHOUT LIMITATION, ALL TYPES OF NEGLIGENT CONDUCT IDENTIFIED IN THE RESTATEMENT (SECOND) OF TORTS OF ONE OR MORE OF THE INDEMNITEES OR BY REASON OF
STRICT LIABILITY IMPOSED WITHOUT FAULT ON ANY ONE OR MORE OF THE INDEMNITEES; PROVIDED THAT SUCH INDEMNITY SHALL NOT, AS TO ANY INDEMNITEE, BE AVAILABLE TO THE EXTENT THAT SUCH LOSSES, CLAIMS, DAMAGES, LIABILITIES OR RELATED EXPENSES
(A) ARE DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND NONAPPEALABLE JUDGMENT TO HAVE RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH INDEMNITEE, (B) RELATE TO CLAIMS BETWEEN OR AMONG ANY OF THE LENDERS, THE
AGENT, ARRANGER OR ANY OF THEIR SHAREHOLDERS, PARTNERS OR MEMBERS TO THE EXTENT SUCH CLAIMS (1) DO NOT INVOLVE AN ACT OR OMISSION OF THE BORROWER OR ITS RELATED PARTIES AND (2) ARE NOT BROUGHT AGAINST AN ARRANGER, AGENT OR ISSUING BANK IN
ITS CAPACITY AS SUCH, OR (C) IN RESPECT OF ANY PROPERTY FOR ANY OCCURRENCE ARISING FROM THE ACTS OR OMISSIONS OF THE AGENT OR ANY LENDER DURING THE PERIOD AFTER WHICH SUCH PERSON, ITS SUCCESSORS OR ASSIGNS SHALL HAVE OBTAINED POSSESSION OF SUCH
PROPERTY (WHETHER BY FORECLOSURE OR DEED IN LIEU OF FORECLOSURE, AS MORTGAGEE-IN-POSSESSION OR OTHERWISE). 
 (c) To the extent that the
Borrower or the Loan Parties fail to pay any amount required to be paid by them to any Agent under Section 12.03(a) or (b), as applicable, each Lender severally agrees to pay to such Agent, such Lender’s Applicable Percentage
(determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case
may be, was incurred by or asserted against such Agent in its capacity as such. 
 (d) To the extent permitted by applicable law, the Loan
Parties shall not assert, and hereby waive, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a
result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or the use of the proceeds thereof. 

(e) All amounts due under this Section 12.03 shall be payable promptly after written demand therefor. 

Section 12.04 Successors and Assigns. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that (i) the Loan Parties may not assign or otherwise transfer (except as permitted under Section 9.11) any of their rights or obligations hereunder without the prior written consent of each Lender
(and any attempted assignment or transfer by the Loan Parties without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this
Section 12.04. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants (to the extent provided
in Section 12.04(c)) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

  
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 (b)(1) Subject to the conditions set forth in Section 12.04(b)(ii), any Lender may
assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be
unreasonably withheld or delayed) of: (A) the Borrower (it being understood that if the Borrower has not objected to an assignment within five (5) Business Days of its receipt of notice of a proposed assignment to a named assignee, then
the Borrower is deemed to have consented to such assignment), provided that no consent of the Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is
continuing, any other assignee; and (B) the Administrative Agent, provided that no such consent shall be required for an assignment to an assignee that is a Lender immediately prior to giving effect to such assignment. 

(i) Assignments shall be subject to the following additional conditions: (A) except in the case of an assignment to a Lender or an
Affiliate of a Lender or an assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $1,000,000, and the Commitments or Loans of any assigning Lender remaining a party hereto after giving effect to the
assignment shall be at least $1,000,000, unless, in each case, each of the Borrower, the Administrative Agent otherwise consents, provided that no such consent of the Borrower shall be required if an Event of Default has occurred and is
continuing; (B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement; (C) the parties to each assignment shall execute and deliver to
the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; (D) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and shall
deliver notice of the Assignment and Assumption to the Borrower; (E) in the case of an assignment to a CLO, the assigning Lender shall retain the sole right to approve any amendment, modification or waiver of any provision of this Agreement,
provided that the Assignment and Assumption between such Lender and such CLO may provide that such Lender will not, without the consent of such CLO, agree to any amendment, modification or waiver described in the first proviso to
Section 12.02(b) that affects such CLO; and (F) no such assignment shall be made to the Borrower or any of the Borrower’s Subsidiaries or other Affiliates. 

(ii) Subject to Section 12.04(b)(iv) and the acceptance and recording thereof, from and after the effective date specified in each
Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights
and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Section 5.01, Section 5.02, Section 5.03 and Section 12.03). Any
assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 12.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with Section 12.04(c). 
 (iii) The Administrative Agent, acting for this purpose as a non-fiduciary
agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, the principal amount (and stated interest) of the
Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive (absent manifest error), and the Borrower, the Administrative Agent and the Lenders may
treat each Person whose name is recorded in 

  
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the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the
Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (iv) Upon its receipt of a duly
completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to
in Section 12.04(b) and any written consent to such assignment required by Section 12.04(b), the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register.
No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this Section 12.04(b). 

(c)(1) Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other
financial investors (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such
Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (C) the Borrower, the Administrative Agent and the
other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement and (D) such Participant agrees to be bound by Section 12.11. Any agreement
or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver of the Loan Documents described in the proviso to
Section 12.02(b) that affects such Participant. In addition such agreement must provide that the Participant be bound by the provisions of Section 12.03 and Section 12.11. Subject to
Section 12.04(c)(ii), the Borrower agrees that each Participant shall be entitled to the benefits of Section 5.01, Section 5.02 and Section 5.03 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to Section 12.04(b); provided that each Participant agrees to be subject to the provisions of Section 5.04 as though it were a Lender. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 12.08 as though it were a Lender, provided such Participant agrees to be subject to Section 4.01(c) as though it were a Lender. 

(i) A Participant shall not be entitled to receive any greater payment under Section 5.01 or Section 5.03 than the
applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, except to the extent such entitlement to receive a greater payment results from an adoption of or any change in any Governmental
Requirement or in the interpretation or application thereof that occurs after the Participant acquired the applicable participation. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of
Section 5.03 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 5.03(f) (it being understood that the
documentation required under Section 5.03(f) shall be delivered to the participating Lender) as though it were a Lender. 
 (ii)
Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of
each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant
Register (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans or its other 

  
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obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan, or other obligation is in registered form under
Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the
owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a
Participant Register. 
 (d) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this
Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other central bank, and this Section 12.04(d) shall not apply to any such pledge or assignment of a
security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(e) Notwithstanding any other provisions of this Section 12.04, no transfer or assignment of the interests or obligations of any
Lender or any grant of participations therein shall be permitted if such transfer, assignment or grant would require the Loan Parties to file a registration statement with the SEC or to qualify the Loans under the “Blue Sky” laws of any
state. 
 Section 12.05 Survival; Revival; Reinstatement . 

(a) All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates or other instruments
delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any
Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, any other Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or
warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid.
The provisions of Section 5.01, Section 5.02, Section 5.03 and Section 12.03 and Article XI shall survive and remain in full force and effect regardless of the consummation of the
transactions contemplated hereby, the repayment in full in cash of the Loans or the termination of this Agreement, any other Loan Document or any provision hereof or thereof. Subject to the foregoing sentence, upon (i) repayment in full of the
Loans and all interest thereon and other amounts due and owing under this Agreement and all other Obligations (as defined in the Guaranty and Collateral Agreement) then due and owing and (ii) the compliance by the Loan Parties with the
covenants and agreements set forth in the Guaranty and Collateral Agreement, upon the written request of the Borrower and at the expense of the Borrower, (A) this Agreement and the other Loan Documents shall terminate, (B) the Collateral
thereunder shall be released, and (C) the Administrative Agent shall provide to the Borrower reasonable releases of the Collateral in recordable form (as necessary) and other reasonably requested confirmations or evidence of termination and
release. 
 (b) To the extent that any payments on the Indebtedness or proceeds of any collateral are subsequently invalidated, declared to
be fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver or other Person under any bankruptcy law, common law or equitable cause, then to such extent, the Indebtedness so satisfied shall be
revived and continue as if such payment or proceeds had not been received and the Administrative Agent’s, and the Lenders’ Liens, security interests, rights, powers and remedies under this Agreement and each Loan Document shall continue in
full force and effect. In such event, each Loan Document shall be automatically reinstated and the Borrower shall take such action as may be reasonably requested by the Administrative Agent or the Lenders to effect such reinstatement. 

  
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 Section 12.06 Counterparts; Integration; Effectiveness. 

(a) This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. 
 (b) This Agreement, the other Loan Documents and any
separate letter agreements with respect to fees payable to the Arranger and the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and thereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof and thereof. This Agreement and the other Loan Documents represent the final agreement among the parties hereto and thereto 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. 
 (c) Except as
provided in Section 6.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this
Agreement by telecopy, attachment to e-mail or other similar electronic means, shall be effective as delivery of a manually executed counterpart of this Agreement. 

Section 12.07 Severability. Any provision of this Agreement or any other Loan Document held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof or
thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

Section 12.08 Right of Setoff. Subject to the Intercreditor Agreement, if an Event of Default shall have occurred and be
continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final,
in whatever currency) at any time held and other obligations (of whatsoever kind, including, without limitations obligations under Hedging Agreements) at any time owing by such Lender or Affiliate to or for the credit or the account of the Loan
Parties or any Restricted Subsidiary against any of and all the obligations of the Loan Parties or any Restricted Subsidiary owed to such Lender now or hereafter existing under this Agreement or any other Loan Document, irrespective of whether or
not such Lender shall have made any demand under this Agreement or any other Loan Document and although such obligations may be unmatured or are owed to a branch, office or Affiliate of such Lender different from the branch, office or Affiliate
holding such deposit or obligated on such indebtedness. The rights of each Lender and its Affiliates under this Section 12.08 are in addition to other rights and remedies (including other rights of setoff) which such Lender or its
Affiliates may have. 
 Section 12.09 Governing Law; Jurisdiction; Consent to Service of Process. 

(a) THIS AGREEMENT AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  
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 (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THE LOAN DOCUMENTS MAY BE BROUGHT IN THE
COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK LOCATED IN THE BOROUGH OF MANHATTAN, NEW YORK, NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HEREBY ACCEPTS FOR ITSELF
AND (TO THE EXTENT PERMITTED BY LAW) IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING
OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS. THIS SUBMISSION TO JURISDICTION IS NON-EXCLUSIVE AND DOES NOT PRECLUDE A
PARTY FROM OBTAINING JURISDICTION OVER ANOTHER PARTY IN ANY COURT OTHERWISE HAVING JURISDICTION. 
 (c) EACH PARTY IRREVOCABLY
CONSENTS TO THE SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO IT AT THE ADDRESS SPECIFIED IN SECTION 12.01 OR
SUCH OTHER ADDRESS AS IS SPECIFIED PURSUANT TO SECTION 12.01 (OR ITS ASSIGNMENT AND ASSUMPTION), AND TO THE EXTENT PERMITTED UNDER APPLICABLE LAW SUCH SERVICE SHALL BECOME EFFECTIVE THIRTY (30) DAYS AFTER SUCH MAILING. NOTHING
HEREIN SHALL AFFECT THE RIGHT OF A PARTY OR ANY HOLDER OF A NOTE TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANOTHER PARTY IN ANY OTHER JURISDICTION. 

(d) EACH PARTY HEREBY (i) IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN; (ii) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION
ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES; (iii) CERTIFIES THAT NO PARTY HERETO NOR ANY REPRESENTATIVE OR AGENT OF COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS; AND (iv) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT, THE LOAN DOCUMENTS AND THE TRANSACTIONS
CONTEMPLATED HEREBY AND THEREBY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTAINED IN THIS SECTION 12.09. 

Section 12.10 Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

Section 12.11 Confidentiality. Each of the Agents and the Lenders agrees to maintain the confidentiality of the Information (as
defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and 

  
 87 

 
other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information
confidential), (b) to the extent requested by any regulatory authority or self-regulatory body, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this
Agreement or any other Loan Document, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of
rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section 12.11, to (i) any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any Hedging Agreement relating to the Borrower and its obligations, (g) with the consent of the Borrower or
(h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section 12.11 or (ii) becomes available to any Agent or any Lender on a nonconfidential basis from a source other
than a Loan Party. For the purposes of this Section 12.11, “Information” means all information received from a Loan Party or any Subsidiary relating to a Loan Party or any Subsidiary and their businesses, other than any
such information that is available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by a Loan Party or a Subsidiary. Any Person required to maintain the confidentiality of Information as provided in this
Section 12.11 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential
information. 
 Section 12.12 EXCULPATION PROVISIONS. EACH OF THE PARTIES HERETO SPECIFICALLY AGREES THAT IT HAS A DUTY TO READ
THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND AGREES THAT IT IS CHARGED WITH NOTICE AND KNOWLEDGE OF THE TERMS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; THAT IT HAS IN FACT READ THIS AGREEMENT AND IS FULLY INFORMED AND HAS FULL NOTICE AND
KNOWLEDGE OF THE TERMS AND CONDITIONS OF THIS AGREEMENT; THAT IT HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL OF ITS CHOICE THROUGHOUT THE NEGOTIATIONS PRECEDING ITS EXECUTION OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; AND HAS RECEIVED THE
ADVICE OF ITS ATTORNEY IN ENTERING INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; AND THAT IT RECOGNIZES THAT CERTAIN OF THE TERMS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS MAY RESULT, SUBJECT TO THE TERMS HEREOF AND THEREOF AND APPLICABLE
LAW, IN ONE PARTY ASSUMING THE LIABILITY INHERENT IN SOME ASPECTS OF THE TRANSACTION AND RELIEVING THE OTHER PARTY OF ITS RESPONSIBILITY FOR SUCH LIABILITY. EACH PARTY HERETO AGREES AND COVENANTS THAT IT WILL NOT CONTEST THE VALIDITY OR
ENFORCEABILITY OF ANY EXCULPATORY PROVISION OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS ON THE BASIS THAT THE PARTY HAD NO NOTICE OR KNOWLEDGE OF SUCH PROVISION OR THAT THE PROVISION IS NOT “CONSPICUOUS.” 

Section 12.13 No Third Party Beneficiaries. The agreement of the Lenders to make Loans hereunder are solely for the benefit of the
Borrower, and no other Person (including, without limitation, any Subsidiary of the Borrower, any obligor, contractor, subcontractor, supplier or materialsman) shall have any rights, claims, remedies or privileges hereunder or under any other Loan
Document against the Administrative Agent, any other Agent or any Lender for any reason whatsoever. There are no third party beneficiaries of the rights of the Borrower under the Loan Documents. 

Section 12.14 US Patriot Act Notice. Each Lender hereby notifies the Loan Parties that pursuant to the requirements of the USA
Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies each Loan Party, which information includes the
name and address of each Loan Party and other information that will allow such Lender to identify each Loan Party in accordance with the Patriot Act. 

  
 88 

 Section 12.15 No Fiduciary Duty. Each Lender and its respective Affiliates
(collectively, solely for purposes of this Section 12.17, the “Lenders”) may have economic interests that conflict with those of the Loan Parties. Each Loan Party agrees that nothing in any Loan Document will be deemed
to create an advisory, fiduciary or agency relationship between Lenders and the Loan Parties, their partners or their Affiliates. Each Loan Party acknowledges and agrees that (a) the transactions with Lenders contemplated by the Loan Documents
are arm’s-length commercial transactions between Lenders, on the one hand, and the applicable Loan Parties, on the other, (b) in connection therewith and with the process leading to such transactions each Lender is acting solely as a
principal and not the agent or fiduciary of any Loan Party, or of any Loan Party’s management, partners, creditors or other Affiliates, (c) no Lender has assumed a fiduciary responsibility in favor of any Loan Party with respect to the
transactions with Lenders contemplated by the Loan Documents or the process leading thereto (irrespective of whether any Lender or any of its Affiliates has advised or is currently advising any Loan Party on other matters) and (d) such Loan
Party has consulted its own legal and financial advisors to the extent it deemed appropriate. Each Loan Party further acknowledges and agrees that it is responsible for making its own independent judgment with respect to such transactions and the
process leading thereto. Each Loan Party agrees that it will not claim that any Lender owes a fiduciary duty to such Loan Party in connection with the Loan Documents or the process leading thereto. 

Section 12.16 Tax Treatment of the Upfront Fees. The Borrower, the Administrative Agent and each Lender agree that the upfront
fees described in Section 2.01 will be treated as creating original issue discount for U.S. federal income tax purposes on the Loans. 

[SIGNATURES BEGIN NEXT PAGE] 

  
 89 

 The parties hereto have caused this Agreement to be duly executed as of the day and year first
above written. 
  

							
	BORROWER:	 		 	RESOLUTE ENERGY CORPORATION
				
		 		 	By:	 	/s/ James M. Piccone
		 		 		 	 James M. Piccone

		 		 		 	President

  
 Signature Page 

Secured Term Loan Agreement 

							
	GUARANTORS:	 		 	HICKS ACQUISITION COMPANY I, INC.
			
		 		 	RESOLUTE ANETH, LLC
			
		 		 	RESOLUTE WYOMING, INC.
			
		 		 	 RESOLUTE NATURAL RESOURCES

COMPANY, LLC

			
		 		 	BWNR, LLC
			
		 		 	WYNR, LLC
			
		 		 	RESOLUTE NORTHERN ROCKIES, LLC
			
		 		 	 RESOLUTE NATURAL RESOURCES

SOUTHWEST, LLC

				
		 		 	By:	 	/s/ James M. Piccone
		 		 		 	 James M. Piccone

		 		 		 	 President of each of the foregoing

  
 Signature Page 

Secured Term Loan Agreement 

							
	ADMINISTRATIVE AGENT:	 		 	BANK OF MONTREAL, as Administrative Agent
				
		 		 	By:	 	/s/ Thomas D. Dale
		 		 	Name:	 	Thomas D. Dale
		 		 	Title:	 	Managing Director

  

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	RELIANCE STANDARD LIFE INSURANCE COMPANY, as Lender
	
	By: Highbridge Principal Strategies, LLC, its investment manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	SAFETY NATIONAL CASUALTY CORPORATION, as Lender
	
	By: Highbridge Principal Strategies, LLC, its investment manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	HIGHBRIDGE SPECIALTY LOAN SECTOR A INVESTMENT FUND, L.P., as Lender
	
	By: Highbridge Principal Strategies, LLC, as Trading Manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	HIGHBRIDGE PRINCIPAL STRATEGIES - SPECIALTY LOAN FUND III, L.P., as Lender
	
	By: Highbridge Principal Strategies, LLC, as Trading Manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	HIGHBRIDGE AIGUILLES ROUGES SECTOR A INVESTMENT FUND, L.P., as Lender
	
	By: Highbridge Principal Strategies, LLC, as manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	HIGHBRIDGE SPECIALTY LOAN INSTITUTIONAL HOLDINGS LIMITED, as Lender
	
	By: Highbridge Principal Strategies, LLC, its investment manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	HIGHBRIDGE PRINCIPAL STRATEGIES - SPECIALTY LOAN INSTITUTIONAL FUND III, L.P., as Lender
	
	By: Highbridge Principal Strategies, LLC, its Manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	HIGHBRIDGE PRINCIPAL STRATEGIES - NDT SENIOR LOAN FUND, L.P., as Lender
	
	By: Highbridge Principal Strategies, LLC, its manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 
			
	HIGHBRIDGE PRINCIPAL STRATEGIES - JADE REAL ASSETS FUND, L.P., as Lender
	
	By: Highbridge Principal Strategies, LLC, its investment manager
		
	By:	 	/s/ Joseph Deffner
	Name:	 	Joseph Deffner
	Title:	 	Managing Director

  
 Signature Page 

Secured Term Loan Agreement 

 ANNEX I 

COMMITMENTS 
  

					
	 Lender
	  	Commitment	 
	 Reliance Standard Life Insurance Company
	  	 	4,649,080.12	  
	 Safety National Casualty Corporation
	  	 	3,099,386.74	  
	 Highbridge Specialty Loan Sector A Investment Fund, L.P.
	  	 	38,852,377.15	  
	 Highbridge Principal Strategies—Specialty Loan Fund III, L.P.
	  	 	27,869,584.39	  
	 Highbridge Aiguilles Rouges Sector A Investment Fund, L.P.
	  	 	40,000,000.00	  
	 Highbridge Specialty Loan Institutional Holdings Limited
	  	 	12,914,111.43	  
	 Highbridge Principal Strategies—Specialty Loan Institutional Fund III, L.P.
	  	 	7,988,110.16	  
	 Highbridge Principal Strategies—NDT Senior Loan Fund, L.P.
	  	 	4,127,350.01	  
	 Highbridge Principal Strategies—Jade Real Assets Fund, L.P.
	  	 	10,500,000.00	  
	 Total:
	  	$	150,000,000.00	  

  
 Annex I - Page 1 

 EXHIBIT A 

FORM OF NOTE 
  

					
	$[___________]	 		 	[___________], 201[___]

 FOR VALUE RECEIVED, RESOLUTE ENERGY CORPORATION, a Delaware corporation (the “Borrower”)
hereby promises to pay to [                    ] or its registered assigns (the “Lender”), at the office of
Bank of Montreal (the “Administrative Agent”), in New York, New York, the principal sum of [                ] Dollars
($[                ]) (or such lesser amount as shall equal the aggregate unpaid principal amount of the Loans made by the Lender to the Borrower
under the Credit Agreement, as hereinafter defined), in lawful money of the United States of America and in immediately available funds, on the dates and in the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid
principal amount of each such Loan, at such office, in like money and funds, for the period commencing on the date of such Loan until such Loan shall be paid in full, at the rates per annum and on the dates provided in the Credit Agreement. 

The date, amount, Type, interest rate, Interest Period and maturity of each Loan made by the Lender to the Borrower, and each payment made on
account of the principal thereof, shall be recorded by the Lender on its books and, prior to any transfer of this Note, may be recorded by the Lender on the schedules attached hereto or any continuation thereof or on any separate record maintained
by the Lender. Failure to make any such notation or to attach a schedule shall not affect any Lender’s or the Borrower’s rights or obligations in respect of such Loans or affect the validity of such transfer by any Lender of this Note.

 This Note is one of the Notes referred to in the Secured Term Loan Agreement, dated as of December 30, 2014, among the Borrower,
certain Subsidiaries of the Borrower, as guarantors, the Administrative Agent, and the other agents and lenders signatory thereto (including the Lender), and evidences Loans made by the Lender thereunder (such Credit Agreement as the same may be
amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”). The Credit Agreement contains requirements for the transfer of this Note and the registration of such transfer. Capitalized terms used
in this Note have the respective meanings assigned to them in the Credit Agreement. 
 This Note is issued pursuant to the Credit Agreement
and is entitled to the benefits provided for in the Credit Agreement and the other Loan Documents. The Credit Agreement provides for the acceleration of the maturity of this Note upon the occurrence of certain events, for prepayments of Loans upon
the terms and conditions specified therein and other provisions relevant to this Note. THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

 

			
	RESOLUTE ENERGY CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 Exhibit A - Page 1 

 EXHIBIT B 

FORM OF BORROWING REQUEST 

[____________], 201[___] 

Resolute Energy Corporation, a Delaware corporation (the “Borrower”), pursuant to Section 2.03 of the Secured
Term Loan Agreement dated as of December 30, 2014 (together with all amendments, restatements, supplements or other modifications thereto, the “Credit Agreement”), among the Borrower, certain Subsidiaries of the Borrower as
guarantors, Bank of Montreal, as Administrative Agent, and the other agents and lenders (the “Lenders”) which are or become parties thereto (unless otherwise defined herein, each capitalized term used herein is defined in the Credit
Agreement), hereby requests a Borrowing as follows: 
 (i) Aggregate amount of the requested Borrowing is
$[_______]; 
 (ii) Date of such Borrowing is December [___], 2014;1 
 (iii) Requested Borrowing is to be [an ABR Borrowing] [a
Eurodollar Borrowing]; 
 (iv) In the case of a Eurodollar Borrowing, the Interest Period applicable thereto is
[______________]; 
 (v) Location and number of the Borrower’s account to which funds are to be disbursed,
which shall comply with the requirements of Section 2.05 of the Credit Agreement, is as follows: 
  

	
	 [_________________________________]

	 [_________________________________]

	 [_________________________________]

	 [_________________________________]

	 [_________________________________]

  
  

	1 	Effective Date 

  
 Exhibit B - Page 1 

 The undersigned certifies that he/she is the
[________________] of the Borrower, and that as such he/she is authorized to execute this certificate on behalf of the Borrower. The undersigned further certifies, represents and warrants, on behalf of and as the act of
the Borrower (and not individually), that the Borrower is entitled to receive the requested Borrowing under the terms and conditions of the Credit Agreement. 

 

			
	RESOLUTE ENERGY CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 Exhbit B - Page 2 

 EXHIBIT C 

FORM OF INTEREST ELECTION REQUEST 

[                    
], 201[    ] 
 Resolute Energy Corporation, a Delaware corporation (the
“Borrower”), pursuant to Section 2.04 of the Secured Term Loan Agreement dated as of December 30, 2014 (together with all amendments, restatements, supplements or other modifications thereto, the “Credit
Agreement”), among the Borrower, certain Subsidiaries of the Borrower as guarantors, Bank of Montreal, as Administrative Agent, and the other agents and lenders (the “Lenders”) which are or become parties thereto (unless
otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement), hereby makes an Interest Election Request as follows: 

(i) The Borrowing to which this Interest Election Request applies, and if different options are being elected with respect to different
portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information specified pursuant to (iii) and (iv) below shall be specified for each resulting Borrowing) is
[                        ]; 

(ii) The effective date of the election made pursuant to this Interest Election Request is
[                    ], 201[    ];
[and] 
 (iii) The resulting Borrowing is to be [an ABR Borrowing] [a Eurodollar
Borrowing][; and] 
 [(iv) [If the resulting Borrowing is a Eurodollar Borrowing] The
Interest Period applicable to the resulting Borrowing after giving effect to such election is
[                            ]]. 

The undersigned certifies that he/she is the
[                                ] of the Borrower,
and that as such he/she is authorized to execute this certificate on behalf of the Borrower. The undersigned further certifies, represents and warrants, on behalf of and as the act of the Borrower (and not individually), that the Borrower is
entitled to receive the requested continuation or conversion under the terms and conditions of the Credit Agreement. 
  

			
	RESOLUTE ENERGY CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 Exhibit C - Page 1 

 EXHIBIT D 

FORM OF COMPLIANCE CERTIFICATE 

The undersigned hereby certifies that he/she is the
[                                ] of Resolute Energy Corporation, a
Delaware corporation (the “Borrower”), and that as such he/she is authorized to execute this certificate on behalf of the Borrower. With reference to the Secured Term Loan Agreement dated as of December 30, 2014 (together with
all amendments, restatements, supplements or other modifications thereto being the “Agreement”), among the Borrower, certain Subsidiaries of the Borrower as guarantors (collectively with the Borrower, the “Loan
Parties”), Bank of Montreal, as Administrative Agent, and the other agents and lenders (the “Lenders”), which are or become parties thereto, the undersigned represents and warrants, on behalf of and as the act of the
Borrower (and not individually), to the best of his/her knowledge after reasonable enquiry as follows (each capitalized term used herein having the same meaning given to it in the Agreement unless otherwise specified): 

(a) The Loan Parties have performed and complied with all agreements and conditions contained in the Agreement and in the Loan Documents
required to be performed or complied with by them prior to or at the time of delivery hereof [or specify default and describe]. 
 (b) There
exists no Default or Event of Default [or specify Default and describe]. 
 (c) Attached hereto are the detailed computations necessary to
determine whether the Loan Parties are in compliance with Section 9.01 of the Agreement as of the end of the fiscal [quarter/year] ending
[            ]. Since the end of such fiscal [quarter/year], there has been no change in the location of any Loan Party’s chief executive
office or principal place of business, in any Loan Party’s federal taxpayer identification number, or in any Loan Party’s Organizational Documents [except as follows:].2 
 (d) No change in GAAP occurred since December 31, 2014 that has been applied to the
Borrower’s consolidated financial statements [except as follows:]. 
 EXECUTED AND DELIVERED this
[                ] day of 201[    ]. 

 

			
	RESOLUTE ENERGY CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
  

	2 	Paragraphs (c) and (d) to be omitted from the Compliance Certificate delivered on the Effective Date. 

  
 Exhibit D - Page 1 

 EXHIBIT E 

FORM OF ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the
meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1
attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding
rights and obligations of the Assignor under the respective facilities identified below (including any guarantees included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of
action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the
loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations
sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

 

	1.	Assignor: ______________________________ 

  

	2.	Assignee: ______________________________ [and is an Affiliate/Approved Fund of [identify Lender]3] 

 

	3.	Borrower: Resolute Energy Corporation 

  

	4.	Administrative Agent: Bank of Montreal, as the administrative agent under the Credit Agreement 

  

	5.	Credit Agreement: The Secured Term Loan Agreement dated as of December 30, 2014 among the Borrower, certain subsidiaries of the Borrower as guarantors, the Administrative Agent, the Lenders parties thereto, and the
other agents parties thereto. 

  
  

	3 	Select as applicable. 

  
 Exhibit E - Page 1 

	6.	Assigned Interest: 

  

					
	 Aggregate Amount of

Loans for all Lenders
	 	 Amount of Loans

Assigned
	 	 Percentage Assigned

of Loans4

			
	 $
	 	$                                   
             	 	%
			
	 $
	 	$                                   
             	 	%
			
	 $
	 	$                                   
             	 	%

 Effective Date:
[                        ], 201[    ] [TO BE INSERTED BY
ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in
this Assignment and Assumption are hereby agreed to: 
  

			
	ASSIGNOR:
	
	[NAME OF ASSIGNOR]
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	ASSIGNEE:
	
	[NAME OF ASSIGNEE]
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 The undersigned hereby consent to the within assignment:5 

 

									
	RESOLUTE ENERGY CORPORATION	 		 	BANK OF MONTREAL
					
	By:	 	 	 		 	By:	 	 
	Name:	 	 	 		 	Name:	 	 
	Title:	 	 	 		 	Title:	 	 

  
  

 

	4 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

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

  
 Exhibit E - Page 2 

 ANNEX 1 

Resolute Energy Corporation 

Secured Term Loan Agreement 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations
under any Loan Document. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements,
if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements
delivered pursuant to Section 8.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase
the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (v) if it is a Foreign Lender, attached to the Assignment and Assumption
is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative
Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will
perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

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

3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and assigns and the other parties to the Credit Agreement. This Assignment and Assumption may be executed in any number of counterparts, 

  
 Exhibit E - Page 3 

 
which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually
executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 Exhibit E - Page 4 

 EXHIBIT F 

SECURITY INSTRUMENTS 
 1.
Deed of Trust, Assignment of As-Extracted Collateral, Security Agreement and Financing Statement (Term Loan), dated December 30, 2014 by Resolute Aneth, LLC, a Delaware limited liability company, as trustor, and J. Craig Smith, an active member
of the Utah State Bar residing in Utah and qualified to serve as trustee under the provisions of Section 57-1-21 of the Utah Code Annotated, as trustee, for the benefit of Bank of Montreal, as Administrative Agent, as beneficiary on behalf of
the Lenders. 
 2. Mortgage, Line of Credit Mortgage, Deed of Trust, Assignment of As-Extracted Collateral, Security Agreement and Financing
Statement (Term Loan), dated December 30, 2014, by Resolute Wyoming, Inc., a Delaware corporation, as mortgagor, for the benefit of Bank of Montreal, as Administrative Agent, as mortgagee on behalf of the Lenders. 

3. Mortgage, Line of Credit Mortgage, Fixture Filing, Assignment of As-Extracted Collateral, Security Agreement and Financing Statement, dated
December 30, 2014, by Resolute Natural Resources Southwest, LLC., a Delaware limited liability company, as mortgagor, for the benefit of Bank of Montreal, as Administrative Agent, as mortgagee on behalf of the Lenders. 

4. Deed of Trust, Assignment of As-Extracted Collateral, Security Agreement and Financing Statement (Term Loan), dated December 30, 2014
by Resolute Aneth, LLC, a Delaware limited liability company Resolute Natural Resources Southwest, LLC., a Delaware limited liability company, each as a trustor, Joseph Bliss, as trustee, for the benefit of Bank of Montreal, as Administrative Agent,
as beneficiary on behalf of the Lenders. 
 5. Guaranty and Collateral Agreement (Term Loan), dated December 30, 2014, by Resolute
Energy Corporation, a Delaware corporation and certain of its Subsidiaries as guarantors, in favor of Bank of Montreal, as administrative agent for the banks and other financial institutions from time to time party to the Second Amended and Restated
Credit Agreement. 
 6. Subordination Agreement (Term Loan), dated December 30, 2014, between Resolute Aneth, LLC, a Delaware limited
liability company, NNOG, and Bank of Montreal, as the administrative agent under the Secured Term Loan Agreement,. 
 7. UCC-1 Financing
Statement with Resolute Energy Corporation, a Delaware corporation, as debtor filed with the Delaware Secretary of State 
 8. UCC-1
Financing Statements with Resolute Natural Resources Company, a Delaware limited liability company, as debtor filed with the Delaware Secretary of State 

9. UCC-1 Financing Statements with BWNR, LLC, a Delaware limited liability company, as debtor filed with the Delaware Secretary of State 

10. UCC-1 Financing Statements with WYNR, LLC, a Delaware limited liability company, as debtor filed with the Delaware Secretary of State 

11. UCC-1 Financing Statement with Resolute Aneth, LLC, a Delaware limited liability company, as debtor filed with the Delaware Secretary of
State 

  
 Exhibit F - Page 1 

 12. UCC-1 Financing Statement with Resolute Aneth, LLC, a Delaware limited liability company, as
debtor filed with the Utah Secretary of State 
 13. UCC-1 Financing Statement with Resolute Aneth, LLC, a Delaware limited liability
company, as debtor filed with the Business Regulatory Department, (f/k/a Commerce Department), Division of Economic Development of the Navajo National in St. Michael, Arizona 

14. UCC-1 Financing Statement with Hicks Acquisition Company I, Inc., a Delaware corporation, as debtor filed with the Delaware Secretary of
State 
 15. UCC-1 Financing Statement with Resolute Wyoming, Inc., a Delaware corporation, as debtor filed with the Delaware Secretary of
State 
 16. UCC-1 Financing Statement with Resolute Northern Rockies, LLC, a Delaware limited liability company, as debtor filed with the
Delaware Secretary of State 
 17. UCC-1 Financing Statement with Resolute Natural Resources Southwest, LLC, a Delaware limited liability
company, as debtor filed with the Delaware Secretary of State 

  
 Exhibit F - Page 2 

 EXHIBIT G 

FORM OF INCREASED FACILITY ACTIVATION NOTICE 

INCREASED FACILITY ACTIVATION NOTICE-INCREMENTAL TERM LOANS 
  

	To:	Bank of Montreal, as Administrative Agent 

	    	under the Credit Agreement referred to below 

 Reference is made to the Secured Term Loan Credit
Agreement, dated as of December 30, 2014 (as amended, supplemented or modified from time to time, the “Credit Agreement”), by and among Resolute Energy Corporation, a Delaware corporation, as Borrower, certain Subsidiaries of
the Borrower as guarantors, Bank of Montreal, as Administrative Agent, and the other agents and lenders which are or become parties thereto. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit
Agreement. 
 This notice is an Increased Facility Activation Notice referred to in the Credit Agreement, and the Borrower and each Lender
party hereto hereby notify you that: 
 1. Each Lender party hereto agrees to make an Incremental Term Loan in the amount set forth opposite
such Lender’s name on the signature pages hereof under the caption “Incremental Term Loan Amount”. 
 2. The Increased
Facility Closing Date is [                        ]. 

3. The aggregate principal amount of Incremental Term Loans contemplated hereby is
$[                ]. 
 4.
The Incremental Term Loan of each Lender party hereto shall mature in [        ] consecutive installments, commencing on
[                ], 201[    ], each of which shall be in an amount equal to
(i) the percentage which the principal amount of such Lender’s Incremental Term Loan made on the Increased Facility Closing Date constitutes of the aggregate principal amount of Incremental Term Loans made on the Increased Facility Closing
Date multiplied by (ii) the amount set forth below opposite such installment: 
  

					
	 Installment
	 	Principal Amount	 	

 [Insert installment dates and amounts] 

5. The Applicable Margin for the Incremental Term Loans contemplated hereby is
[            ]% per annum in the case of Eurodollar Loans and [__]% per annum in the case of ABR Loans. [INSERT GRID IF APPLICABLE]

 6. The agreement of each Lender party hereto to make an Incremental Term Loan on the Increased Facility Closing Date is subject to
the satisfaction of the conditions precedent set forth in Section 2.07(c) of the Credit Agreement. 

  
 Exhibit G - Page 1 

			
	RESOLUTE ENERGY CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

							
	Incremental Term Loan Amount	 		 	[NAME OF LENDER]
				
	$	 		 		 	
				
		 		 	By:	 	 
		 		 	Name:	 	 
		 		 	Title:	 	 

  

			
	CONSENTED TO:
	
	BANK OF MONTREAL, as Administrative Agent
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 Exhibit G - Page 2 

 EXHIBIT H 

FORM OF NEW LENDER SUPPLEMENT 

NEW LENDER SUPPLEMENT 

SUPPLEMENT, dated [                ],
201[__], to the Secured Term Loan Credit Agreement, dated as of December 30, 2014 (as amended, supplemented or modified from time to time, the “Credit Agreement”), by and among Resolute Energy
Corporation, a Delaware corporation, as Borrower, certain Subsidiaries of the Borrower as guarantors, Bank of Montreal, as Administrative Agent, and the other agents and lenders which are or become parties thereto. Capitalized terms used but not
defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
 W I T N E S S E T H: 

WHEREAS, the Credit Agreement provides in Section 2.07(b) thereof that any bank, financial institution or other entity may become
a party to the Credit Agreement with the consent of the Borrower and the Administrative Agent (which consent shall not be unreasonably withheld) in connection with a transaction described in Section 2.07(a) thereof by executing and
delivering to the Borrower and the Administrative Agent a supplement to the Credit Agreement in substantially the form of this Supplement; and 

WHEREAS, the undersigned now desires to become a party to the Credit Agreement; 

NOW, THEREFORE, the undersigned hereby agrees as follows: 

1. The undersigned agrees to be bound by the provisions of the Credit Agreement, and agrees that it shall, on the date this
Supplement is accepted by the Borrower and the Administrative Agent, become a Lender for all purposes of the Credit Agreement to the same extent as if originally a party thereto, and shall make an Incremental Term Loan to the Borrower in the
principal amount of $[                ]. 

2. The undersigned (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to
execute and deliver this Supplement and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be
satisfied by it in order to become a Lender, (iii) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 8.01 thereof, and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into this Supplement on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any
other Lender and (iv) if it is a Non-U.S. Lender, attached to this Supplement is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the undersigned, and (b) agrees
that (i) it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or
not taking action under the Loan Documents and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

  
 Exhibit H - Page 1 

 The undersigned’s address for notices for the purposes of the Credit Agreement is as
follows: 
  

	
	 [_________________________________]

	 [_________________________________]

	 [_________________________________]

	 [_________________________________]

	 [_________________________________]

 IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly
authorized officer on the date first above written. 
  

			
	[NAME OF LENDER]
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	Accepted this [____] day of [____________], 201[__]:
	
	RESOLUTE ENERGY CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	BANK OF MONTREAL, as Administrative Agent
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 Exhibit H - Page 2 

 EXHIBIT I 

NOTICE OF ACCOUNT DESIGNATION 

Dated December [_], 2014 

[                        
        ] 
 Ladies and Gentlemen: 

This Notice of Account Designation is delivered to pursuant to the Secured Term Loan Agreement dated as of December 30, 2014, by and among
Resolute Energy Corporation, a Delaware corporation, as Borrower, certain Subsidiaries of the Borrower as guarantors, Bank of Montreal, as Administrative Agent, and the other agents and lenders which are or become parties thereto. The Administrative
Agent is hereby authorized to disburse all Loan proceeds into the following account: 
 Bank Name: 

ABA Routing Number: 
 Account
Number: 
 Account Name: 
 In
witness whereof, the undersigned has executed this Notice of Account Designation this [                ] day of December, 2014. 

 

			
	RESOLUTE ENERGY CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 Exhibit I - Page 1 

 EXHIBIT J-1 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE (FOREIGN LENDERS; NOT PARTNERSHIPS) 

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Secured Term Loan Credit Agreement dated as of December 30, 2014 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Resolute Energy Corporation, a Delaware corporation, as Borrower, Bank of Montreal, as Administrative Agent, the financial institutions from time to time party thereto as
Lenders, and the other parties party thereto. 
 Pursuant to the provisions of Section 5.03 of the Credit Agreement, the
undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning
of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to the Borrower as
described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with a
certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform
the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which
each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 [NAME OF
LENDER] 
 By: 
 Name: 

Title: 
 Date:
[                ], 201[    ] 

  
 Exhibit J-1 - Page 1 

 EXHIBIT J-2 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE (FOREIGN PARTICIPANTS; NOT PARTNERSHIPS) 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Secured Term Loan Credit Agreement dated as of December 30, 2014 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Resolute Energy Corporation, a Delaware corporation, as Borrower, Bank of Montreal, as Administrative Agent, the financial institutions from time to time party thereto as
Lenders, and the other parties party thereto. 
 Pursuant to the provisions of Section 5.03 of the Credit Agreement, the
undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code,
(iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of
the Code. 
 The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or
IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have
at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 [NAME OF PARTICIPANT] 

By: 
 Name: 

Title: 
 Date:
[                ], 201[    ] 

  
 Exhibit J-2 - Page 1 

 EXHIBIT J-3 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE (FOREIGN PARTICIPANTS; PARTNERSHIPS) 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Secured Term Loan Credit Agreement dated as of December 30, 2014 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Resolute Energy Corporation, a Delaware corporation, as Borrower, Bank of Montreal, as Administrative Agent, the financial institutions from time to time party thereto as
Lenders, and the other parties party thereto. 
 Pursuant to the provisions of Section 5.03 of the Credit Agreement, the
undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation,
(iii) with respect such participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the
meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or
indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its
partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN, (ii) an IRS Form W-8BEN-E or (iii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such
partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the
undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 [NAME OF PARTICIPANT] 

By: 
 Name: 

Title: 
 Date:
[                ], 201[    ] 

  
 Exhibit J-3 - Page 1 

 EXHIBIT J-4 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE (FOREIGN LENDERS; PARTNERSHIPS) 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Secured Term Loan Credit Agreement dated as of December 30, 2014 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Resolute Energy Corporation, a Delaware corporation, as Borrower, Bank of Montreal, as Administrative Agent, the financial institutions from time to time party thereto as
Lenders, and the other parties party thereto. 
 Pursuant to the provisions of Section 5.03 of the Credit Agreement, the
undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the
sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct
or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect
partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as
described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with IRS Form
W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN, (ii) an IRS Form W-8BEN-E or (iii) an IRS Form W-8IMY accompanied by an IRS
Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 [NAME OF LENDER] 

By: 
 Name: 

Title: 
 Date:
[                ], 201[    ] 

  
 Exhibit J-4 - Page 1 

 SCHEDULE 1.02 

APPROVED COUNTERPARTIES 

Nothing to schedule. 

  
 Schedule 1.02 - Page 1

 SCHEDULE 7.03 

POST CLOSING CONSENTS 

Nothing to schedule. 

  
 Schedule 7.03 - Page 1

 SCHEDULE 7.05 

LITIGATION 
 Nothing to
schedule. 

  
 Schedule 7.05 - Page 1

 SCHEDULE 7.15 

SUBSIDIARIES AND PARTNERSHIPS 

Guarantors and Restricted Subsidiaries: 

1. Hicks Acquisition Company I, Inc., a Delaware corporation, wholly owned by Resolute Energy Corporation 

2. Resolute Aneth, LLC, a Delaware limited liability company, owned by Resolute Energy Corporation and Hicks Acquisition Company I, Inc. 

3. Resolute Natural Resources Company, LLC, a Delaware limited liability company, owned by Resolute Energy Corporation 

4. Resolute Wyoming, Inc., a Delaware corporation, wholly owned by Resolute Energy Corporation 

5. BWNR, LLC, a Delaware limited liability company, wholly owned by Resolute Energy Corporation 

6. WYNR, LLC, a Delaware limited liability company, wholly owned by Resolute Energy Corporation 

7. Resolute Northern Rockies, LLC, a Delaware limited liability company, wholly owned by Resolute Energy Corporation 

8. Resolute Natural Resources Southwest, LLC, a Delaware limited liability company, wholly owned by Resolute Energy Corporation 

Unrestricted Subsidiaries: 
 None. 

  
 Schedule 7.15 - Page 1

 SCHEDULE 7.16 

JURISDICTIONS OF ORGANIZATION AND ORGANIZATION NUMBERS 
  

							
	 Jurisdiction
	  	 Name
	  	Organization
No.	 
	 Delaware
	  	Hicks Acquisition Company I, Inc.	  	 	4307701	  
	 Delaware
	  	Resolute Natural Resources Company, LLC	  	 	3756395	  
	 Delaware
	  	Resolute Aneth, LLC	  	 	3879437	  
	 Delaware
	  	BWNR, LLC	  	 	4018390	  
	 Delaware
	  	WYNR, LLC	  	 	4020910	  
	 Delaware
	  	Resolute Energy Corporation	  	 	4713678	  
	 Delaware
	  	Resolute Wyoming, Inc.	  	 	3731787	  
	 Delaware
	  	Resolute Northern Rockies, LLC	  	 	4792826	  
	 Delaware
	  	Resolute Natural Resources Southwest, LLC	  	 	4968910	  

  
 Schedule 7.16 - Page 1

 SCHEDULE 7.17 

PROPERTIES 
 Nothing to
schedule. 

  
 Schedule 7.17 - Page 1

 SCHEDULE 7.19 

GAS IMBALANCES 
 Nothing to
schedule. 

  
 Schedule 7.19 - Page 1

 SCHEDULE 7.20 

MARKETING CONTRACTS 

Nothing to schedule. 

  
 Schedule 7.20 - Page 1

 SCHEDULE 7.21 

HEDGING AGREEMENTS 

Resolute Energy Corporation Hedging Data 

RESOLUTE ANETH, LLC – Derivative Contracts – Oil Swaps 

 

											
	 Counterparty
	  	Quantity (Bbl/d)	  	 Term
	  	Resolute
Pays	  	Counterparty
Pays	 
	Bank of Montreal	  	1,000	  	Calendar year 2014	  	Market	  	 	$97.50	  
	Citi Bank	  	1,500	  	Calendar year 2014	  	Market	  	 	$93.65	  
	Wells Fargo	  	1,000	  	Calendar year 2014	  	Market	  	 	$95.05	  
	Citi Bank	  	1,000	  	January 2015 - March 2015	  	Market	  	 	$91.98	  
	Citi Bank	  	1,000	  	April 2015 - June 2015	  	Market	  	 	$89.89	  
	Citi Bank	  	1,000	  	July 2015 - September 2015	  	Market	  	 	$88.37	  
	Citi Bank	  	1,000	  	October 2015 - December 2015	  	Market	  	 	$86.93	  
	Bank of Montreal	  	1,000	  	January 2015 - March 2015	  	Market	  	 	$91.97	  
	Bank of Montreal	  	1,000	  	April 2015 - June 2015	  	Market	  	 	$89.89	  
	Bank of Montreal	  	1,000	  	July 2015 - September 2015	  	Market	  	 	$88.11	  
	Bank of Montreal	  	1,000	  	October 2015 - December 2015	  	Market	  	 	$86.70	  
	Citi Bank	  	1,000	  	January 2015 - March 2015	  	Market	  	 	$91.51	  
	Citi Bank	  	1,000	  	April 2015 - June 2015	  	Market	  	 	$89.40	  
	Citi Bank	  	1,000	  	July 2015 - September 2015	  	Market	  	 	$87.70	  
	Citi Bank	  	1,000	  	October 2015 - December 2015	  	Market	  	 	$86.30	  
	Wells Fargo	  	1,000	  	January 2015 - March 2015	  	Market	  	 	$90.57	  
	Citi Bank	  	1,000	  	April 2015 - June 2015	  	Market	  	 	$90.05	  
	Citi Bank	  	1,000	  	July 2015 - December 2015	  	Market	  	 	$86.93	  
	Bank of Montreal	  	100	  	January 2015 - March 2015	  	Market	  	 	$91.06	  
	Bank of Montreal	  	100	  	April 2015 - June 2015	  	Market	  	 	$89.29	  
	Bank of Montreal	  	100	  	July 2015 - September 2015	  	Market	  	 	$87.66	  
	Bank of Montreal	  	100	  	October 2015 - December 2015	  	Market	  	 	$86.45	  
	Comerica	  	1,500	  	Calendar year 2015	  	Market	  	 	$81.00	  
	Comerica	  	1,000	  	Calendar year 2016	  	Market	  	 	$80.60	  
	Comerica	  	1,000	  	Calendar year 2016	  	Market	  	 	$80.90	  
	Comerica	  	1,500	  	Calendar year 2016	  	Market	  	 	$80.12	  
			
	RESOLUTE ENERGY CORPORATION – Derivative Contracts – Oil Swaps	  		  			
					
	 Counterparty
	  	Quantity (Bbl/d)	  	 Term
	  	Resolute
Pays	  	Counterparty
Pays	 
	ING	  	1,000	  	Calendar year 2016	  	Market	  	 	$80.58	  
	ING	  	1,000	  	Calendar year 2016	  	Market	  	 	$80.40	  
	ING	  	1,000	  	Calendar year 2016	  	Market	  	 	$80.10	  
			
	RESOLUTE ANETH, LLC – Derivative Contracts – Two Way Oil Collars	  		  			
					
	 Counterparty
	  	Quantity
(Bbl/d)	  	 Term
	  	Floor
Price	  	Ceiling Price	 
	Bank of Montreal	  	750	  	Calendar year 2014	  	$60.00	  	 	$110.00	  
	Citi Bank	  	750	  	Calendar year 2014	  	$70.00	  	 	$110.00	  
	Citi Bank	  	1,000	  	Calendar year 2015	  	$84.17	  	 	$92.10	  

  

Schedule 7.21 – Page 1 

 RESOLUTE ANETH, LLC – Derivative Contracts – Three Way Oil Collars 

 

															
	 Counterparty
	  	Quantity (Bbl/d)	  	 Term
	  	Short
Put Price	 	  	Floor
Price	 	  	Ceiling
Price
	Comerica	  	1,000	  	Calendar year 2014	  	 	$70.00	  	  	 	$80.00	  	  	$95.00
	Deutsche Bank AG	  	1,000	  	Calendar year 2014	  	 	$70.00	  	  	 	$90.00	  	  	$106.65
	Bank of Montreal	  	1,200	  	Calendar year 2014	  	 	$70.00	  	  	 	$85.00	  	  	$97.00

 RESOLUTE ANETH, LLC – Derivative Contracts – Three Way Gas Collars 

 

															
	 Counterparty
	  	Quantity (MMBtu/d)	  	 Term
	  	Short
Put Price	 	  	Floor
Price	 	  	Ceiling
Price
	Comerica	  	5,000	  	January 2015 - March 2015	  	 	$3.75	  	  	 	$4.50	  	  	$5.55

 RESOLUTE ANETH, LLC – Derivative Contracts – Call Options 

 

											
	 Counterparty
	  	Quantity (Bbl/d)	  	 Term
	  	Bought
Call Price	 	  	Sold
Call Price
	Citi Bank	  	1,500	  	Calendar year 2014	  	 	$110.00	  	  	
	Wells Fargo	  	1,000	  	Calendar year 2014	  	 	$106.65	  	  	

 RESOLUTE ANETH, LLC – Derivative Contracts – Put Options 

 

											
	 Counterparty
	  	Quantity (Bbl/d)	  	 Term
	  	Bought
Put Price	 	  	Sold
Put Price
	Citi Bank	  	750	  	Calendar year 2014	  				  	$70.00
	Citi Bank	  	750	  	Calendar year 2014	  				  	$60.00
	Wells Fargo	  	1,000	  	Calendar year 2014	  				  	$80.00
	Comerica	  	2,000	  	August 2014 - December 2014	  	 	$96.00	  	  	

 RESOLUTE WYOMING, INC. & RESOLUTE ANETH, LLC – Derivative Contracts – Gas Swaps

  

											
	 Counterparty
	  	Quantity (MMBtu/d)	  	 Term
	  	Resolute
Pays	 	  	Counterparty
Pays
	Comerica	  	5,000	  	Calendar year 2014	  	 	Henry Hub	  	  	$4.165

 RESOLUTE ENERGY CORPORATION – Derivative Contracts – Gas Swaps 

 

													
	 Counterparty
	  	Quantity (MMBtu/d)	  	 Term
	  	Resolute
Pays	 	  	Counterparty
Pays	  	Option - Sold
Put Price
	ING	  	3,800	  	January 2015 - March 2015	  	 	Henry Hub	  	  	$4.237	  	
	ING	  	8,800	  	April 2015 - December 2015	  	 	Henry Hub	  	  	$3.934	  	$3.250

 RESOLUTE WYOMING, INC. – Derivative Contracts – Basis Swaps 

 

									
	 Counterparty
	  	Quantity (MMBtu/d)	  	 Term
	  	Resolute
Pays	  	Counterparty
Pays
	Bank of Montreal	  	1,000	  	Calendar year 2014	  	CIG	  	Hentry Hub - $0.590

  

Exhibit H – Page 2 

 SCHEDULE 9.05 

INVESTMENTS 
 Nothing to disclose. 

  

Schedule 9.05 – Page 1EX-10.2

 Exhibit 10.2 

Execution Version 
  

 
  

ELEVENTH AMENDMENT TO 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

Dated December 30, 2014 

Among 
 RESOLUTE ENERGY
CORPORATION, 
 as Borrower, 

CERTAIN OF ITS SUBSIDIARIES, 

as Guarantors, 
 WELLS
FARGO BANK, NATIONAL ASSOCIATION, 
 as Administrative Agent, 

BANK OF MONTREAL, 
 as
Syndication Agent, 
 BARCLAYS BANK PLC, CITIBANK, N.A. and 

U.S. BANK NATIONAL ASSOCIATION, 

as Co-Documentation Agents, 

and 
 The Lenders Party
Hereto 
 WELLS FARGO SECURITIES, LLC 

and BMO CAPITAL MARKETS 

as Joint Bookrunners and Joint Lead Arrangers 
  

 
  

 THIS ELEVENTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this
“Eleventh Amendment”), dated as of December 30, 2014, is by and among Resolute Energy Corporation, a Delaware corporation (the “Borrower”), certain of its subsidiaries (collectively, the
“Guarantors”), Wells Fargo Bank, National Association, as Administrative Agent (the “Administrative Agent”) and the lenders party hereto (the “Lenders”). 

Recitals 
 WHEREAS,
the Borrower, the Guarantors, the Administrative Agent and the other lenders party thereto entered into that certain Second Amended and Restated Credit Agreement, dated as of March 30, 2010 (as amended by the First Amendment to Second Amended
and Restated Credit Agreement dated April 18, 2011, the Second Amendment to Second Amended and Restated Credit Agreement dated April 25, 2011, the Third Amendment to Second Amended and Restated Credit Agreement dated as of April 13,
2012, the Fourth Amendment to Second Amended and Restated Credit Agreement dated as of December 7, 2012, the Fifth Amendment to Second Amended and Restated Credit Agreement dated as of December 27, 2012, the Sixth Amendment to Second
Amended and Restated Credit Agreement dated as of March 22, 2013, the Seventh Amendment to Second Amended and Restated Credit Agreement dated as of April 15, 2013, the Eighth Amendment to Second Amended and Restated Credit Agreement dated
as of December 13, 2013, the Ninth Amendment to Second Amended and Restated Credit Agreement dated as of March 7, 2014 and the Tenth Amendment to Second Amended and Restated Credit Agreement dated as of March 14, 2014, and as the same
may be further amended, modified, supplemented or restated from time to time, the “Credit Agreement”); 
 WHEREAS,
the Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement as set forth herein; and 

WHEREAS, subject to the satisfaction of the conditions set forth herein, the Administrative Agent and the Lenders are willing to amend
the Credit Agreement as provided herein. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained
herein and in the Credit Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

ARTICLE I  
 Definitions

 Each capitalized term used in this Eleventh Amendment and not defined herein shall have the meaning assigned to such term in the
Credit Agreement. Unless otherwise indicated, all section references in this Eleventh Amendment refer to sections of the Credit Agreement. As used in this Eleventh Amendment, the following term has the meaning specified below: 

“Amendment Transactions” means (i) the execution, delivery and performance of the Eleventh Amendment and all other Loan
Documents executed and delivered in connection therewith and (ii) the execution, delivery and performance of the Second Lien Loan Documents (as defined below). 

  
 1 

 ARTICLE II  

Amendments 
 As of the
Eleventh Amendment Effective Date, the Credit Agreement is amended as follows: 
 Section 2.01 Amendments to Section 1.02 of
the Credit Agreement. 
 (a) Section 1.02 of the Credit Agreement is hereby amended by adding the following new definitions in
their proper alphabetical order: 
 “‘Additional Test Date’ has the meaning assigned to such term in
Section 9.01(f).” 
 “‘Adjusted PV10’ means, as of any date of determination, an
amount equal to the PV10 of the Oil and Gas Properties of the Borrower and the Guarantors as of the most recent date for which a Reserve Report has been prepared and delivered to the Administrative Agent, as such PV10 may have been thereafter
adjusted to reflect any Transfers and any acquisitions of Oil and Gas Properties and any reserve additions relating to newly drilled wells that were not included (or were incompletely included) in such Reserve Report.” 

“‘Annual Budget’ means a budget for the applicable year in form and substance acceptable to the
Administrative Agent (such acceptance not to be unreasonably withheld), that shall describe the anticipated capital, operating and restricted payment expenditures (including dividends on equity issuances) of the Loan Parties.” 

“‘Anti-Terrorism Laws’ has the meaning assigned to such term in Section 7.24.” 

“‘Cash Equivalents’ means: 

(a) direct obligations of the United States or any agency thereof, or obligations guaranteed by the United States or any
agency thereof, in each case maturing within one year from the date of creation thereof. 
 (b) commercial paper maturing
within one year from the date of creation thereof rated in the highest grade by S&P or Moody’s. 
 (c) demand
deposits, and time deposits maturing within one year from the date of creation thereof, with, or issued by any Lender or any office located in the United States of any other bank or trust company which is organized under the laws of the United
States or any state thereof, has capital, surplus and undivided profits aggregating at least $100,000,000 (as of the date of such bank or trust company’s most recent financial reports) and has a short term deposit rating of at least A2 or P2,
as such rating is set forth from time to time, by S&P or Moody’s, respectively. 

  
 2 

 (d) deposits in money market funds at least 95% of whose assets are cash and
Investments described in the preceding clauses (a), (b) and (c).” 
 “‘Current Rolling Hedge
Period’ has the meaning assigned to such term in Section 8.18.” 
 “‘Eleventh
Amendment’ means that certain Eleventh Amendment to Second Amended and Restated Credit Agreement, dated as of December 30, 2014, among the Borrower, the Guarantors, the Administrative Agent and the Lenders party thereto.” 

“‘Eleventh Amendment Effective Date’ means the first Business Day on which all of the conditions
precedent set forth in Article III of the Eleventh Amendment shall have been satisfied (or waived in accordance with Section 12.02).” 

“‘FATCA’ means Sections 1471 through 1474 of the Code, as of the Eleventh Amendment Effective Date (or
any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to
Section 1471(b)(1) of the Code.” 
 “‘FCPA’ means the Foreign Corrupt Practices Act of 1977,
as amended, and any rules or regulations promulgated pursuant thereto.” 
 “‘Intercreditor
Agreement’ means (a) with respect to the Second Lien Debt, that certain Intercreditor Agreement by and among the Administrative Agent, the Second Lien Agent, the Borrower and the Guarantors, as amended, supplemented, amended and
restated or otherwise modified in accordance with the terms thereof, and (b) with respect to Permitted Refinancing Debt that is secured Debt, an intercreditor agreement in form and substance acceptable to the Administrative Agent in its sole
discretion, as amended, supplemented, amended and restated or otherwise modified in accordance with the terms thereof.” 

“‘Lead Investor’ has the meaning given to such term in the Second Lien Credit Agreement. 

“‘Liquidate’ means, with respect to any Hedging Agreement, the sale, assignment, novation, unwind or
termination of all or any part of such Hedging Agreement; provided that for purposes of this definition, a Hedging Agreement shall not be deemed to have been Liquidated if, (a) such Hedging Agreement is novated from the existing
counterparty to an Approved Counterparty, with the Borrower or a Restricted Subsidiary being the “remaining party” for purposes of such novation, or (b) upon its termination, it is replaced, in a substantially contemporaneous
transaction, with one or more Hedging Agreements with approximately the same mark-to-market value and without cash payments to the Borrower or any Restricted Subsidiary in connection therewith. The terms “Liquidated” and
“Liquidation” have correlative meanings thereto.” 

  
 3 

 “‘Liquidity and Compliance Requirements’ means at any time
that (and the Liquidity and Compliance Requirements are satisfied at any time when) all of the following conditions exist after giving effect to any Borrowing Base reduction that may be required at such time as a result of any Transfer, Liquidation,
Casualty Event, or other concurrent event: 
 (a) the outstanding Credit Exposures are less than or equal to the Borrowing
Base, and the net cash proceeds of any such Transfer, Liquidation, Casualty Event or other concurrent event are not otherwise required by this Agreement to be used to pay the Obligations; 

(b) the sum of (i) the Loan Parties’ unrestricted cash and Cash Equivalents plus the amount of the Borrowing Base
minus (ii) the total Credit Exposures equals or exceeds an amount (in this definition, the “liquidity amount”) equal to 25% of the Borrowing Base, provided that in no event shall the liquidity amount be less than
$25,000,000 or more than $70,000,000; 
 (c) no Default or Event of Default exists; and 

(d) the Loan Parties are in pro forma compliance with the financial covenants set forth in Section 9.01, after
giving effect to any payments made or to be made at such time under this Agreement or the Second Lien Credit Agreement. 

“‘Maximum First Lien Leverage Ratio’ has the meaning assigned to such term in
Section 9.01(b).” 
 “‘Mortgage Threshold’ means (a) prior to the Mortgage
Threshold Date, 80%, and (b) on and after the Mortgage Threshold Date, 90%.” 
 “‘Mortgage Threshold
Date’ means the date that is 45 days after the Eleventh Amendment Effective Date, as such date may be extended from time to time by the Administrative Agent in its sole discretion.” 

“‘NYMEX Pricing’ shall mean, as of any date of determination with respect to any month (a) for
crude oil, the closing settlement price for the Light, Sweet Crude Oil futures contract for each month, and (b) for natural gas, the closing settlement price for the Henry Hub Natural Gas futures contract for such month, in each case as
published by New York Mercantile Exchange (NYMEX) on its website currently located at www.nymex.com, or any successor thereto (as such price may be corrected or revised from time to time by the NYMEX in accordance with its rules and
regulations).” 
 “‘OFAC’ means the U.S. Department of the Treasury’s Office of Foreign
Assets Control.” 
 “‘Participant Register’ has the meaning assigned to such term in
Section 12.04(c).” 

  
 4 

 “‘Permitted Refinancing Debt’ means Debt (for purposes of
this definition, “new Debt”) incurred by the Borrower pursuant to Permitted Refinancing Documents in exchange for, or proceeds of which are used to refinance, the Second Lien Debt in whole or in part (for purposes of this definition
such refinanced Second Lien Debt is called the “Refinanced Debt”); provided that (a) such new Debt is in an aggregate principal amount not in excess of the sum of (i) the aggregate principal amount then outstanding
of the Refinanced Debt (or, if the Refinanced Debt is exchanged or acquired for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration thereof, such lesser amount) and any accrued interest thereon
and (ii) an amount necessary to pay any fees, expenses, original issue discount, and premiums, related to such exchange or refinancing; (b) such new Debt does not have any scheduled principal amortization prior to the date which is 180
days after the Maturity Date as in effect on the date such new Debt is incurred, other than regularly scheduled amortization payments of a percentage consistent with that required for amortization payments under the Refinanced Debt as in effect on
the Eleventh Amendment Effective Date; (c) such new Debt (i) does not mature sooner than the date which is 180 days after the Maturity Date as in effect on the date such new Debt is incurred and (ii) has an average life no shorter
than the average life of the Refinanced Debt; (d) such new Debt does not have any mandatory prepayment or redemption provisions (other than change of control or asset sale tender offer provisions substantially similar to those applicable to the
Refinanced Debt or otherwise customary in the market at the time of such exchange or refinancing) which would require a mandatory prepayment or redemption in priority of the Indebtedness (except to the extent permitted by Section 9.21(a));
(e) such new Debt does not have a stated and a cash pay interest rate in excess of the stated interest rate of the Refinanced Debt plus 2%; (f) the loan agreement or credit agreement and the other financing documentation for such new Debt
do not contain financial covenants, negative covenants or defaults which, taken as a whole, are more onerous to the Borrower and its Subsidiaries than those imposed by the Refinanced Debt; (g) no Subsidiary or other Person shall guarantee or be
required to guarantee such new Debt unless such Subsidiary or other Person guarantees the Indebtedness pursuant to the Guaranty and Collateral Agreement; (h) immediately after giving effect to such new Debt, no Event of Default shall have
occurred and be continuing; (i) if such new Debt is subordinate in right of payment to the Indebtedness, such new Debt shall be expressly subordinated to the payment in full of all of the Indebtedness on terms and conditions reasonably
satisfactory to the Administrative Agent; (j) if such new Debt is secured, such new Debt shall be subject to an Intercreditor Agreement; and (k) the financing documentation entered into by the Borrower and its Subsidiaries shall constitute
Permitted Refinancing Documents.” 
 “‘Permitted Refinancing Documents’ means any loan agreement,
credit agreement, guaranties, mortgages, deeds of trust, security agreements, pledge agreements, or similar financing documentation which replaces the Second Lien Credit Agreement or the Second Lien Loan Documents, pursuant to which outstanding
Second Lien Debt is refinanced by the incurrence of Permitted 

  
 5 

 
Refinancing Debt; provided that, in the case of any Permitted Refinancing Debt that is secured Debt, the loan agreement or credit agreement and other financing documentation for such
Permitted Refinancing Debt shall not contain financial covenants, negative covenants or defaults other than financial covenants, negative covenants and defaults which (a) taken as a whole, are not more onerous to the Borrower and its
Subsidiaries than those imposed by the Refinanced Debt and (b) are otherwise not prohibited by the Intercreditor Agreement that is applicable to, and in effect at the time of the incurrence of, such Permitted Refinancing Debt.” 

“‘Proved Developed Reserves Coverage Ratio’ means the ratio of (a) the Adjusted PV10 for the
Borrower and its Subsidiaries attributable to Proved Developed Reserves to (b) Total Secured Debt.” 

“‘Proved Reserves’ means “Proved Reserves” as defined in the Definitions for Oil and Gas
Reserves (in this paragraph, the “Definitions”) promulgated by the Society of Petroleum Engineers (or any generally recognized successor) as in effect at the time in question. “Proved Developed Producing Reserves” means
Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Reserves” means Proved Reserves which are categorized as “Developed” in the Definitions.
“Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved
Reserves which are categorized as “Undeveloped” in the Definitions.” 
 “‘Proved Reserves
Coverage Ratio’ means the ratio of (a) the Adjusted PV10 for the Borrower and its Subsidiaries to (b) Total Secured Debt.” 

“‘PV10’ means, as of any date of determination for the Borrower and the Guarantors, the present value of
estimated future revenues less severance and ad valorem taxes, operating, gathering and other expenses and capital expenditures from the production of Proved Reserves from their Oil and Gas Properties, calculated (a) using, to the extent of the
notional volumes covered thereby, the prices under Hedging Agreements with Approved Counterparties then in effect, and otherwise using the five-year Strip Price on such date of determination, in each case adjusted for any basis differential, quality
and gravity, (b) using costs as of the date of estimation without future escalation, without giving effect to non-property related expenses such as general and administrative expenses, debt service, future income tax expense and depreciation,
depletion and amortization, (c) discounted using an annual discount rate of 10%, and (d) to the extent not otherwise specified in the preceding clauses of this sentence, using reasonable economic assumptions consistent with such
clauses.” 
 “‘Sanctioned Country’ means, at any time, a country or territory which itself is the
subject or target of any Sanctions.” 

  
 6 

 “‘Sanctioned Person’ means (a) a Person named on (i) the
list of “Specially Designated Nationals and Blocked Persons” maintained by OFAC available at http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx, or as otherwise published from time to time or (ii) any
other Sanctions-related list of designated Persons maintained by OFAC, the U.S. Department of the Treasury, the U.S. Department of Commerce or the U.S. Department of State, (b) an agency of the government of a Sanctioned Country, (c) an
organization controlled by a Sanctioned Country, or (d) a person resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC.” 

“‘Sanctions’ means economic or financial sanctions or trade embargoes imposed, administered or enforced
from time to time by the U.S. government, including those administered by OFAC, the U.S. Department of the Treasury, the U.S. Department of Commerce or the U.S. Department of State.” 

“‘Second Lien Agent’ means Bank of Montreal.” 

“‘Second Lien Credit Agreement’ means the Secured Term Loan Agreement, dated as of December 30,
2014, among the Borrower, the Second Lien Agent and the lenders party thereto, as amended, supplemented, amended and restated and otherwise modified to the extent permitted by Section 9.21.” 

“‘Second Lien Debt’ means all Debt of the Borrower outstanding under the Second Lien Credit Agreement
(including any Second Lien Incremental Loans).” 
 “‘Second Lien Incremental Loans’ means each
incremental loan made under the Second Lien Credit Agreement after the initial funding of Second Lien Debt on the Eleventh Amendment Effective Date but on or prior to the date that is sixty (60) days after the Eleventh Amendment Effective
Date.” 
 “‘Second Lien Loan Documents’ means the Second Lien Credit Agreement and all other Loan
Documents (as defined in the Second Lien Credit Agreement).” 
 “‘Second Lien Termination’ means
the indefeasible payment in full of the Second Lien Debt and any Permitted Refinancing Debt.” 
 “‘Strip
Price’ shall mean, at any time, (a) for the remainder of the current calendar year, the average NYMEX Pricing for the remaining contracts in the current calendar year, (b) for each of the succeeding four complete calendar years,
the average NYMEX Pricing for the twelve months in each such calendar year, and (c) for the succeeding fifth complete calendar year, and for each calendar year thereafter, the average NYMEX Pricing for the twelve months in such fifth calendar
year.” 

  
 7 

 “‘Total Net Secured Leverage Ratio’ means as of any date of
determination the ratio of (a) Total Secured Debt minus the lesser of (i) $50,000,000 and (ii) unrestricted and unencumbered cash and Cash Equivalents on the consolidated balance sheet of the Borrower to (b) EBITDA.”

 “‘Total Secured Debt’ means as of any date of determination the principal amount of all Debt of the
Borrower and its Consolidated Restricted Subsidiaries that is outstanding and is allowed under Sections 9.02(a), (f)(ii) and (f)(iii).” 

“‘U.S. Person’ means any Person that is a “United States Person” as defined in
Section 7701(a)(30) of the Code. 
 “‘U.S. Tax Compliance Certificate’ has the meaning assigned
to such term in Section 5.03(e).” 
 (b) Section 1.02 of the Credit Agreement is hereby amended by deleting the
following definitions in their entirety and inserting in Section 1.02 the following definitions in lieu thereof: 

“‘Agreement’ means this Second Amended and Restated Credit Agreement, as amended by the First Amendment,
the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment, the Ninth Amendment, the Tenth Amendment and the Eleventh Amendment, as the same may from time to
time be amended, modified, supplemented or restated.” 
 “‘Applicable Margin’ means, for any day,
with respect to any ABR Loan or Eurodollar Loan, the rate per annum set forth in the grid below based upon the Conforming Tranche Utilization Percentage then in effect: 
  

																					
	 Conforming Tranche 
Utilization Percentage
	  	< 25%	 	 	3 25%
but <
50%	 	 	3 50%
but <
75%	 	 	3 75%
but <
90%	 	 	3 90%	 
	 Interest Margin for LIBOR Loans
	  	 	1.50	% 	 	 	1.75	% 	 	 	2.00	% 	 	 	2.25	% 	 	 	2.50	% 
	 Interest Margin for Base Rate Loans
	  	 	0.50	% 	 	 	0.75	% 	 	 	1.00	% 	 	 	1.25	% 	 	 	1.50	% 

 Each change in the Applicable Margin shall apply during the period commencing on the effective date of such
change and ending on the date immediately preceding the effective date of the next such change; provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the
“Applicable Margin” means the rate per annum set forth on the grid when the Conforming Tranche Utilization Percentage is > 90%; provided further that upon the Borrower’s delivery of such Reserve Report the Applicable
Margin shall revert to the Applicable Margin that would otherwise apply.” 

  
 8 

 “‘Change in Control’ means (a) a majority of the board
of directors of the Borrower ceases to be composed of individuals (i) who were members of such board on the Effective Date, (ii) whose election or nomination to such board was approved by individuals referred to in clause
(i) above constituting at the time such election or nomination at least a majority of such board, or (iii) whose election or nomination to such board was approved by individuals referred to in clause (i) or
(ii) above constituting at the time of such election or nomination at least a majority of such board, (b) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act
of 1934, but excluding any employee benefit plan of such person or its subsidiaries and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of such plan) shall acquire beneficial ownership (within the
meaning of Rule 13d-3 and 13d-5 of the SEC under the Securities Exchange Act of 1934, as amended, and including holding proxies to vote for the election of directors other than proxies held by the Borrower’s management or their designees to be
voted in favor of persons nominated by the Borrower’s board of directors) of thirty-five percent (35%) or more of the outstanding voting securities of the Borrower, measured by voting power (including both common stock and any preferred
stock or other equity securities entitling the holders thereof to vote with the holders of common stock in the elections for directors of the Borrower) or (c) all or substantially all of the assets of the Borrower and its Restricted
Subsidiaries are Transferred (it being understood and agreed that a sale of the assets of Borrower and its Restricted Subsidiaries in the Aneth Field shall not be considered a sale of substantially all of the assets of the Borrower and its
Restricted Subsidiaries).” 
 “‘Defaulting Lender’ means any Lender, as determined by the
Administrative Agent, that has (a) failed to fund any portion of its Loans or participations in Letters of Credit or Swingline Loans within two (2) Business Days of the date required to be funded by it hereunder, (b) notified the
Borrower, the Administrative Agent, the Issuing Bank, the Swingline Lender or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does
not intend to comply with its funding obligations under this Agreement, (c) otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within three (3) Business Days of
the date when due, unless the subject of a good faith dispute, or (d) (i) become or is insolvent or has a parent company that has become or is insolvent or (ii) become the subject of a bankruptcy or insolvency proceeding, or has had a
receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent company that has become the
subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding
or appointment; provided that the Administrative Agent shall provide written notice to any Lender determined by the Administrative Agent to 

  
 9 

 
be a Defaulting Lender hereunder (and shall provide a copy of such written notice to the Borrower); provided further, that an Undisclosed Administration shall not be deemed to be any of
the events described in clause (d) above; provided further, that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company
thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on
its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. In the event that the Administrative Agent, the Borrower, the Swingline Lender and the
Issuing Bank each agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, such Lender shall cease to be a Defaulting Lender.” 

“‘Excluded Taxes’ means, with respect to any Agent, any Lender, any Issuing Bank or any other recipient
of any payment to be made by or on account of any obligation of a Loan Party hereunder or under any other Loan Document, (a) income or franchise taxes (however denominated) imposed on (or measured by) its net income by the United States of
America or such other jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) any branch profits taxes
imposed by the United States of America or any similar tax imposed by any other jurisdiction in which a Loan Party is located and (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under
Section 5.04(b)), any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to such Foreign
Lender’s failure to comply with or to provide the forms contemplated in Section 5.03(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or
assignment), to receive additional amounts with respect to such withholding tax pursuant to Section 5.03(a) or Section 5.03(c).” 

“‘Loan Documents’ means this Agreement, the Notes, the Letter of Credit Agreements, the Letters of
Credit, the Security Instruments, the Resolute Assignment and Assumption Agreement, the Fee Letters and the Intercreditor Agreement.” 

“‘Material Debt’ means (a) Second Lien Debt and (b) other Debt (other than the Loans and
Letters of Credit) or obligations in respect of one or more Hedging Agreements, of any one or more of the Loan Parties in an aggregate principal amount exceeding $5,000,000. For purposes of determining Material Debt, the “principal amount”
of the obligations of a Loan Party in respect of any Hedging Agreement at any time shall be the aggregate amount (giving effect to any netting agreements) that the Loan Party would be required to pay if such Hedging Agreement were terminated at such
time.” 

  
 10 

 “‘Subordination Agreement’ means that certain Amended and
Restated Subordination Agreement, dated as of December 30, 2014, among the Administrative Agent (acting on behalf of the Lenders), Resolute Aneth and NNOG in which NNOG subordinates certain of its rights under the Cooperative Agreement to the
rights of the Lenders under the Loan Documents, as the same may, from time to time, be amended, modified, supplemented or restated as permitted by the terms of this Agreement.” 

Section 2.02 Amendment to Section 3.02(d). Section 3.02(d) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 “(d) Post-Default Rate. Notwithstanding the foregoing, if (i) an Event of Default
specified in Section 10.01(a), 10.01(b), 10.01(h) or 10.01(i) has occurred and is continuing, or (ii) the Majority Lenders so elect (or direct the Administrative Agent to so elect) in connection with the
occurrence and continuance of any other Event of Default, then in each case all Indebtedness outstanding shall bear interest, after as well as before judgment, at a rate per annum equal to two percent (2%) plus the rate otherwise applicable to
such Loans including the Applicable Margin applicable with respect to such Loans), but in no event to exceed the Highest Lawful Rate.” 

Section 2.03 Amendment to Section 5.03. Section 5.03 of the Credit Agreement is hereby amended by: 

(a) amending paragraph (c) thereof by inserting the words “jointly and severally” immediately prior to the word
“indemnify” where it appears therein; 
 (b) amending and restating paragraph (e) thereof in its entirety as
follows: 
 “(e) Status of Lenders. (i) Any Lender that is entitled to an exemption from or reduction of
withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and
executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower
or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not
such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such
documentation set forth in Sections 5.03(e)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material
unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

  
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 (ii) Without limiting the generality of the foregoing, 

(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on
which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S.
federal backup withholding Tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to
the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 
 (1) in the
case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(2) executed copies of IRS Form W-8ECI; 

(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c)
of the Code, (x) a certificate substantially in the form of Exhibit I-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the
Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed
copies of IRS Form W-8BEN or IRS Form W-8BEN-E; or 

  
 12 

 (4) to the extent a Foreign Lender is not the beneficial owner, executed copies
of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit I-2 or Exhibit I-3, IRS Form W-9, and/or other certification documents from each
beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax
Compliance Certificate substantially in the form of Exhibit I-4 on behalf of each such direct and indirect partner; 
 (C)
any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from
or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction
required to be made; and 
 (D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal
withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the
Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any
amendments made to FATCA after the date of this Agreement. 

  
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 Each Lender agrees that if any form or certification it previously delivered
expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so.”; 

(c) amending and restating paragraph (f) thereof in its entirety as follows: 

“(f) Tax Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any
Taxes as to which it has been indemnified pursuant to this Section 5.03 (including by the payment of additional amounts pursuant to this Section 5.03), it shall pay to the indemnifying party an amount equal to such refund
(but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest
paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph
(f) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the
contrary in this paragraph (f), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (f) the payment of which would place the indemnified party in a less
favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional
amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the
indemnifying party or any other Person.”; and 
 (d) adding the following paragraphs (g) and (h) to the end thereof: 

“(g) Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand
therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan
Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 12.04(c)(iii) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable
to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be 

  
 14 

 
conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or
otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (g).” 

“(h) Survival. Each party’s obligations under this Section 5.03 shall survive the resignation or replacement of
the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.” 

Section 2.04 Amendment to Article VII. Article VII of the Credit Agreement is hereby amended by adding the following Sections
7.24, 7.25 and 7.26 to the end thereof: 
 “Section 7.24 Anti-Terrorism; Anti-Money Laundering; Anti-Corruption. No Loan Party
or Subsidiary or, to their knowledge, any of their Related Parties (i) is an “enemy” or an “ally of the enemy” within the meaning of Section 2 of the Trading with the Enemy Act of the United States (50 U.S.C. App.
§§ 1 et seq.), (ii) is in violation of (A) the Trading with the Enemy Act, (B) any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V) or any enabling
legislation or executive order relating thereto or (C) the Patriot Act (collectively, the “Anti-Terrorism Laws”) or (iii) is a Sanctioned Person. No part of the proceeds of any Loan or Letter of Credit hereunder will be
unlawfully used directly or indirectly (x) to fund any operations in, finance any investments or activities in or make any payments to a Sanctioned Person or a Sanctioned Country, or in any other manner that will result in any violation by any
Person (including any Lender, the Arrangers, the Administrative Agent, any Issuing Bank or the Swingline Lender) of any Anti-Terrorism Laws or (y) for the purpose of making any payments to any governmental official or employee, political party,
official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the FCPA or any other applicable
antibribery or anti-corruption law.” 
 “Section 7.25 Foreign Corrupt Practices. No Loan Party or Subsidiary or, to their
knowledge, any of their Related Parties, is aware of or has taken any action, directly or indirectly, that would result in a material violation by such Persons of the FCPA or any other applicable anti-corruption law or regulation, including without
limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the
FCPA; and each Loan Party and Subsidiary and, to its knowledge, each of its Related Parties, has conducted their business in material compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are
reasonably expected to continue to ensure, such continued material compliance therewith. 

  
 15 

 “Section 7.26 Deposit and Securities Accounts. Except as set forth on Schedule
7.26 or as disclosed in writing to the Administrative Agent, which shall be a supplement to Schedule 7.26, no Loan Party has any Deposit Accounts or Securities Accounts (each, as defined in the Guaranty and Collateral Agreement).”

 Section 2.05 Amendment to Section 8.01. Section 8.01 of the Credit Agreement is hereby amended by: 

(a) amending and restating paragraph (k) thereof in its entirety as follows: 

“(k) Notice of Sales of Oil and Gas Properties, Unwinds of Hedging Agreements. In the event (i) any Loan Party intends to
sell, transfer, assign or otherwise dispose of any Borrowing Base Properties or any Equity Interests in any Loan Party that owns Borrowing Base Properties (A) for consideration in excess of $15,000,000 or (B) that would otherwise trigger
an adjustment to the Borrowing Base pursuant to Section 9.12, at least ten (10) days’ prior written notice of such disposition, including the anticipated price thereof and the anticipated date of closing, or (ii) any Loan
Party Unwinds any Hedging Agreement (A) where the net marked to market economic effect of such Hedging Agreement Restructuring on the date thereof is negative (i.e. results in a reduction in the value of the Borrower’s hedge book) in the
amount of $1,000,000 or more or (B) that would otherwise trigger an adjustment to the Borrowing Base pursuant to Section 9.19, written notice of such Unwind no later than the day that the parties execute the trade confirmation for
such Unwind”; 
 (b) amending and restating paragraph (o) thereof in its entirety as follows: 

“(o) Notices of Certain Changes. Promptly, but in any event within five (5) Business Days after the execution thereof, copies
of any amendment, modification or supplement to any of the Second Lien Loan Documents, the Permitted Refinancing Documents, or the Organizational Documents of any Loan Party.”; and 

(c) adding the following new paragraphs (q), (r) and (s) to the end thereof, and adding the following final paragraph following new
paragraph (s): 
 “(q) Permitted Refinancing Debt Incurrence. Written notice at least five (5) Business Days prior to the
incurrence of any Permitted Refinancing Debt, together with the most recent drafts of each Permitted Refinancing Debt Document, and prompt delivery to the Administrative Agent and the Lenders of copies, certified by a Responsible Officer as true and
complete, of each Permitted Refinancing Debt Document following the incurrence of any Permitted Refinancing Debt.” 

  
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 “(r) Notice of Liens. In the event that the Borrower or any Subsidiary intends to
grant any Lien on any Property to secure any Second Lien Debt or Permitted Refinancing Debt, at least fifteen (15) days’ prior written notice thereof to the Administrative Agent (or such shorter time as the Administrative Agent shall
determine in its sole discretion).” 
 “(s) Calculation of Adjusted PV. In connection with the delivery of each Reserve
Report, the Borrower shall deliver to the Administrative Agent and the Lenders a certificate or report calculating the Adjusted PV10 for the period ending on the “as of” date of such Reserve Report and showing in reasonable detail, each
component of the calculation in compliance with the requirements of the above definitions of “PV10” and “Adjusted PV10”.” 

“Documents of the Borrower required to be delivered pursuant to Section 8.01(a) or (b) or of any Loan Party or
Subsidiary required to be delivered pursuant to Section 8.01 (h) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have
been delivered on the date (i) on which the Borrower, such Loan Party or such Subsidiary posts such documents or provides a link thereto on its public website; or (ii) on which such documents are posted on the Borrower’s behalf on an
Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial or third-party website and whether or not sponsored by the Administrative Agent); provided that: (A) the Borrower shall
deliver paper copies of such documents to the Administrative Agent or any Lender upon its request to the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such
Lender and (B) the Borrower shall notify the Administrative Agent and each Lender of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The
Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above and, in any event, shall have no responsibility to monitor compliance by the Borrower with any such request by a
Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.” 

Section 2.06 Amendment to Section 8.02. Section 8.02 of the Credit Agreement is hereby amended by deleting the word
“and” at the end of paragraph (c) thereof, replacing the period at the end of clause (d) with “; and”, and adding the following new paragraph (e) to the end thereof: 

“(e) any default or event of default under any Second Lien Loan Documents or any Permitted Refinancing Documents.” 

Section 2.07 Amendment to Section 8.12(c). Section 8.12(c) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 “(c) The delivery of each Reserve Report pursuant to this Section 8.12 shall be deemed to
constitute a representation and warranty by the Borrower on the date 

  
 17 

 
thereof that in all material respects: (i) the information contained in such Reserve Report and any other information delivered in connection therewith is based on information that was
prepared in good faith based upon assumptions believed to be reasonable at the time, (ii) with respect to each July 1 Reserve Report, such Reserve Report has been prepared in accordance with the procedures used in the immediately preceding
Reserve Report (after taking into account any required changes to such procedures), (iii) the Loan Parties own good and defensible title to the proved producing Oil and Gas Properties and good title to the other proved Oil and Gas Properties,
in each case, evaluated in such Reserve Report and such Properties are free of all Liens except for Liens permitted by Section 9.03, and (iv) except as certified to the Administrative Agent in writing, on a net basis there are no
gas imbalances, take or pay or other prepayments in excess of the volume specified in Section 7.19 with respect to its proved Oil and Gas Properties evaluated in such Reserve Report which would require any Loan Party to deliver
Hydrocarbons either generally or produced from such Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor. If requested by the Administrative Agent, with the delivery of each Reserve Report, the
Borrower shall provide to the Administrative Agent and the Lenders a certificate from a Responsible Officer certifying that to his knowledge, after reasonable inquiry, in all material respects: (i) none of their proved Oil and Gas Properties
have been sold since the date of the last Borrowing Base determination except as set forth on an exhibit to the certificate, which certificate shall list all proved Oil and Gas Properties sold and in such detail as reasonably required by the
Administrative Agent, (ii) attached to the certificate is a list of all marketing agreements with a term of more than one month that have been entered into subsequent to the later of the date hereof or the most recently delivered Reserve Report
which the Borrower could reasonably be expected to have been obligated to list on Schedule 7.20 had such agreement been in effect on the date hereof and (iii) attached thereto is a schedule of the proved Oil and Gas Properties of each
Loan Party evaluated by such Reserve Report that are Mortgaged Properties and demonstrating the percentage of the Borrowing Base that the value of such Mortgaged Properties represent.” 

Section 2.08 Amendment to Section 8.14(a). Section 8.14(a) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 “(a) In connection with each redetermination of the Borrowing Base, the Borrower shall review the Reserve
Report and information regarding current Mortgaged Properties to ascertain whether the proved Oil and Gas Properties that constitute Mortgaged Properties represent (i) one hundred percent (100%) of the proved Oil and Gas Properties held by
the Loan Parties in San Juan County, Utah and (ii) in the aggregate, a percentage of the total value of the proved Oil and Gas Properties evaluated in the most recently completed Reserve Report greater than or equal to the Mortgage Threshold,
after giving effect to exploration and production activities, acquisitions, dispositions and production. In the event that the proved Oil and Gas Properties that constitute Mortgaged Properties do not represent (i) one hundred percent
(100%) of the proved Oil and Gas Properties 

  
 18 

 
held by the Loan Parties in San Juan County, Utah and (ii) in the aggregate, a percentage of the total value of the proved Oil and Gas Properties evaluated in the most recently completed
Reserve Report greater than or equal to the Mortgage Threshold, then each Loan Party shall grant to the Administrative Agent as security for the Indebtedness a first-priority Lien interest (subject only to Excepted Liens of the type described in
clauses (a) to (d) and (f) of the definition thereof, but subject to the provisos at the end of such definition) on additional proved Oil and Gas Properties not already subject to a Lien of the Security Instruments such that after
giving effect thereto, the proved Oil and Gas Properties that constitute Mortgaged Properties will represent (i) one hundred percent (100%) of the proved Oil and Gas Properties held by the Loan Parties in San Juan County, Utah and
(ii) otherwise, a percentage of such total value greater than or equal to the Mortgage Threshold. All such Liens will be created and perfected by and in accordance with the provisions of mortgages, deeds of trust, security agreements and
financing statements or other Security Instruments, all in form and substance satisfactory to the Administrative Agent and in sufficient executed (and acknowledged where necessary or appropriate) counterparts for recording purposes.” 

Section 2.09 Amendment to Section 8.14(b). Section 8.14(b) of the Credit Agreement is hereby amended by replacing the
word “ and” at the end of clause (B) thereof with a comma, re-lettering clause (C) thereof as clause (D), and inserting the following new clause (C) immediately following clause (B) thereof: 

“(C) unless Second Lien Termination shall have occurred, confirm that it is a “Grantor” under the Intercreditor Agreement by
executing and delivering a Joinder Agreement (as defined in the Intercreditor Agreement) thereto, in form and substance satisfactory to the Administrative Agent, and” 

Section 2.10 Amendment to Section 8.14. Section 8.14 of the Credit Agreement is hereby amended by adding the following
paragraphs (d) and (e) to the end thereof: 
 “(d) The Borrower agrees that it will not, and will not permit any Guarantor
to, grant a Lien on any Property to secure the Second Lien Debt without contemporaneously granting to the Administrative Agent, as security for the Indebtedness, a perfected Lien (with priority subject only to Liens permitted by the terms of by
Section 9.03 or operation of law to have priority) on the same Property pursuant to Security Instruments in substantially the same form or otherwise in form and substance reasonably satisfactory to the Administrative Agent. In connection
therewith, the Borrower shall, and shall cause each Guarantor to execute and deliver such other additional closing documents, certificates and legal opinions as shall reasonably be requested by the Administrative Agent.” 

“(e) The Borrower will cause any Person guaranteeing the Second Lien Debt to contemporaneously become a Guarantor hereunder in accordance
with Section 8.14(b).” 

  
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 Section 2.11 Amendment to Section 8.18. Section 8.18 of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “Section 8.18 Hedging Agreements. Together with each
Reserve Report required to be delivered under Section 8.12(a) prior to the occurrence of Second Lien Termination, the Borrower shall also deliver a certificate executed by a Responsible Officer certifying (with calculations in detail
reasonably acceptable to the Administrative Agent) that the Borrower, or one or more of its Restricted Subsidiaries, have entered into and are maintaining one or more Hedging Agreements in respect of commodities, each with an Approved Counterparty,
for notional volumes aggregating at least seventy percent (70.0%) of the reasonably anticipated projected Hydrocarbon production for the then Current Rolling Hedge Period, taken as a whole, from the Borrower and its Restricted
Subsidiaries’ total Proved Developed Producing Reserves. As used herein, “Current Rolling Hedge Period” means, following the delivery of the then most recent Reserve Report under Section 8.12(a), the period
beginning on the most recently occurring January 1 or July 1 and ending two years thereafter. For example, following delivery of the Reserve Report prepared as of January 1, 2015, the Current Rolling Hedge Period will be the period
beginning on January 1, 2015 and ending on and including December 31, 2016, and following the delivery of the Reserve Report prepared as of July 1, 2015, the Current Rolling Hedge Period will be the period beginning on July 1,
2015 and ending on and including June 30, 2017.” 
 Section 2.12 Amendment to Article VIII. Article VIII of the Credit
Agreement is hereby amended by adding the following Section 8.19 to the end thereof: 
 “Section 8.19 Annual Budget. Prior
to the occurrence of Second Lien Termination, the Loan Parties shall submit an Annual Budget to the Administrative Agent no later than thirty days prior to the start of each fiscal year, provided that the Annual Budget for fiscal year 2015 shall be
delivered and accepted by the Administrative Agent (such acceptance not to be unreasonably withheld, provided that the Administrative Agent shall have at least 15 days to review any proposed Annual Budget before determining whether to accept such
Annual Budget) no later than February 15, 2015, and shall not make any expenditure that deviates 15% or more from the amount set forth in the approved Annual Budget without the written consent of the Administrative Agent.” 

Section 2.13 Amendment to Section 9.01. Section 9.01 of the Credit Agreement is hereby amended by: 

(a) amending and restating each of paragraph (b) and paragraph (c) thereof in their entirety as follows : 

“(b) Maximum First Lien Leverage Ratio. The Loan Parties will not, as of the last day of any fiscal quarter for which financial
statements have been provided pursuant to Section 8.01(a) or (b), permit the ratio of (i) the total Funded Debt included in the Credit Exposures as of such date to (ii) EBITDA of the Borrower

  
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and its Consolidated Restricted Subsidiaries for the four (4) quarter period ending on such date (or for such other period and subject to such other manner of calculation as is provided in
the definition of EBITDA) to be greater than 2.25 to 1.00 (the “Maximum First Lien Leverage Ratio”; provided that to the extent that Second Lien Incremental Loans are borrowed under the Second Lien Credit Agreement, the
Maximum First Lien Leverage Ratio shall be reduced as follows: 
 (i) on the first day that the aggregate outstanding
principal balance of the Second Lien Debt equals or exceeds $200,000,000, the Maximum First Lien Leverage Ratio will become 2.0 to 1.0; 

(ii) on the first day that the aggregate outstanding principal balance of the Second Lien Debt equals or exceeds $250,000,000,
the Maximum First Lien Leverage Ratio will become 1.75 to 1.0; 
 (iii) on the first day that the aggregate outstanding
principal balance of the Second Lien Debt equals or exceeds $300,000,000, the Maximum First Lien Leverage Ratio will become 1.5 to 1.0; and 

(iv) on the first day of each additional increase in the aggregate outstanding principal balance of the Second Lien Debt by
$50,000,000, the Maximum First Lien Leverage Ratio will be reduced by an additional .25.” 
 “(c) Proved Reserves Coverage
Ratio. Prior to the occurrence of Second Lien Termination, the Loan Parties will not, as of the last day of any fiscal quarter permit the Proved Reserves Coverage Ratio to be less than (i) 1.1 to 1.0 for the fiscal quarters ending
December 31, 2014 and March 31, 2015, (ii) 1.25 to 1.0 for the fiscal quarters ending June 30, 2015 and September 30, 2015, and (iii) 1.5 to 1.0 for any fiscal quarter ending on or after December 31, 2015.”;
and 
 (b) adding the following new paragraphs (d), (e) and (f) to the end thereof: 

“(d) Proved Developed Reserves Coverage Ratio. Prior to the occurrence of Second Lien Termination, the Loan Parties will not, as
of the last day of any fiscal quarter, beginning with the fiscal quarter ending December 31, 2014, permit the Proved Developed Reserves Coverage Ratio to be less than 1.0 to 1.0.” 

“(e) Total Net Secured Leverage Ratio. Prior to the occurrence of Second Lien Termination, the Loan Parties will not, as of the
last day of any fiscal quarter, beginning with the fiscal quarter ending December 31, 2014, permit the Total Net Secured Leverage Ratio to be greater than 3.50 to 1.00.” 

“(f) Additional Test Dates. Prior to the occurrence of Second Lien Termination, the Lead Investor may elect once each calendar
year, by notice to the Borrower as provided in the Second Lien Credit Agreement, to test the ratios referred to in Sections 9.01(c) and (d) hereof on the date specified by the Lead Investor (such date, an “Additional Test
Date”). Upon receipt of any such notice by the Borrower, the Borrower shall deliver a copy thereof to the Administrative 

  
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Agent. In addition, the Borrower shall thereafter deliver to the Administrative Agent and the Lenders (i) a Reserve Report audited by an Approved Petroleum Engineer with an “as of”
date as required by the Lead Investor and (ii) a certificate or report calculating the Adjusted PV10 for the period ending on such “as of” date and showing in reasonable detail, each component of the calculation in compliance with the
requirements of the above definitions of “PV10” and “Adjusted PV10”, each to be delivered no later than sixty days following the receipt of such request from the Lead Investor. The Loan Parties will not, as of any such Additional
Test Date, permit the Proved Reserves Coverage Ratio to be less than (i) 1.1 to 1.0 for any Additional Test Date occurring during the period from January 1, 2015 to and including June 29, 2015, (ii) 1.25 to 1.0 for any Additional
Test Date occurring during the period from July 1, 2015 to and including December 30, 2015, and (iii) 1.5 to 1.0 for any Additional Test Date occurring on or after December 31, 2015. In addition, the Loan Parties will not, as of
any Additional Test Date on or after December 31, 2014, permit the Proved Developed Reserves Coverage Ratio to be less than 1.0 to 1.0.” 

Section 2.14 Amendment to Section 9.02(f). Section 9.02(f) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
  

	 	“(f)	(i) Unsecured Debt with a maturity date that is at least six (6) months after the Maturity Date (or, if entered into on or after the Eleventh Amendment Effective Date and prior to Second Lien Termination, six
(6) months after November 1, 2019); provided that (A) to the extent that the net cash proceeds of such unsecured Debt are not used to prepay the Loans pursuant to Section 3.04(c)(iv), for each $1.00 of such
unsecured Debt over $400,000,000 incurred by the Loan Parties in the aggregate, the Borrowing Base (and, prior to the Non-Conforming Tranche Termination Date, the Conforming Tranche) shall be reduced, effective immediately upon the incurrence of
such unsecured Debt, by $0.25 and any mandatory prepayments required by Section 3.04(c)(iii) shall be made concurrently therewith, and (B) at the time of issuance or incurrence of any such unsecured Debt that is issued or incurred
on or after the Eleventh Amendment Effective Date and prior to Second Lien Termination, the aggregate consolidated principal amount of all Debt of the Borrower and its Subsidiaries then outstanding, whether secured or unsecured, that constitutes
Indebtedness under the Loan Documents or other Debt allowed under this subsection (f), including such unsecured Debt, does not exceed $900,000,000; 

  

	 	  	(ii) Second Lien Debt incurred on the Eleventh Amendment Effective Date and guaranties thereof in an aggregate principal amount not to exceed $150,000,000 at any time outstanding and Permitted Refinancing Debt in
respect of such Second Lien Debt and guaranties thereof; provided, that such Second Lien Debt (including any guaranties thereof) and Permitted Refinancing Debt shall at all times be subject to the Intercreditor Agreement; and

  
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	 	  	(iii) Second Lien Incremental Loans and guaranties thereof in an aggregate principal amount not to exceed $200,000,000 at any time outstanding and Permitted Refinancing Debt in respect of such Second Lien Incremental
Loans and guaranties thereof; provided, that (A) such Second Lien Incremental Loans (including any guaranties thereof) and Permitted Refinancing Debt shall at all times be subject to the Intercreditor Agreement, (B) the Borrowing
Base (and, prior to the Non-Conforming Tranche Termination Date, the Conforming Tranche) shall be reduced, effective immediately upon the incurrence of such Second Lien Incremental Loans, by an amount equal to 90% of the principal amount of such
Second Lien Incremental Loans, and (C) any mandatory prepayments required by Section 3.04(c)(iii) shall be made concurrently therewith.” 

Section 2.15 Amendment to Section 9.02. Section 9.02 of the Credit Agreement is hereby amended by adding the following
paragraph to the end thereof: 
 “Notwithstanding the foregoing, under no circumstances shall the Total Secured Debt of the Loan
Parties exceed $500,000,000 prior to Second Lien Termination. It being understood and agreed that the limitation in this paragraph does not permit the incurrence of any Debt other than that permitted by the foregoing clauses (a) through
(h) of Section 9.02.” 
 Section 2.16 Amendment to Section 9.03. Section 9.03 of the
Credit Agreement is hereby amended adding the following paragraph (f) to the end thereof: 
 “(f) As long as such Liens are
subject to and permitted by the Intercreditor Agreement, Liens securing Debt permitted by Sections 9.02(f)(ii) and 9.02(f)(iii).” 

Section 2.17 Amendment to Section 9.04. Section 9.04 of the Credit Agreement is hereby amended by: 

(a) amending and restating paragraph (b) thereof in its entirety as follows: 

“(b) Reserved.”; and 

(b) amending and restating paragraph (c) thereof in its entirety as follows: 

“(c) the Borrower may make other Restricted Payments not to exceed $5,000,000 in the aggregate during any fiscal year; provided
that the Restricted Payments permitted under clause (c) may not be made (i) upon the occurrence and during the continuance of any Event of Default or (ii) when the Borrowing Base Utilization Percentage exceeds ninety percent (90%);
provided further that the aggregate amount of Restricted Payments made pursuant to this Section 9.04(c) from the Eleventh Amendment Effective Date until Second Lien Termination shall not exceed $20,000,000.” 

  
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 Section 2.18 Amendment to Section 9.05(i). Section 9.05(i) of the Credit
Agreement is hereby amended by inserting the following language immediately before the period at the end thereof: 
 “, so long as, in
each case until the occurrence of Second Lien Termination, the Borrower and its Restricted Subsidiaries are in compliance with the financial covenants set forth in Section 9.01 both before and after giving effect to such
Investment”. 
 Section 2.19 Amendment to Section 9.08. Section 9.08 of the Credit Agreement is hereby amended by
deleting the words “Section 7.22” where they appear therein and replacing them with the words “Sections 7.22 and 7.24”. 

Section 2.20 Amendment to Section 9.12. Section 9.12 of the Credit Agreement is hereby amended by: 

(a) amending and restating paragraph (c)(i) thereof in its entirety as follows: 

“(i) ninety percent (90%) of the consideration (determined after excluding assumption of liabilities but without duplication of any
reduction in the cash consideration received by the Borrower or its Restricted Subsidiaries on account of such assumption of liabilities) received in respect of such Transfer shall be cash, Cash Equivalents or Oil and Gas Properties; provided
in addition that until Second Lien Termination not less than seventy-five percent (75%) of the consideration received in respect of such Transfer (determined after excluding assumption of liabilities but without duplication of any reduction in
the cash consideration received by the Borrower or its Restricted Subsidiaries on account of such assumption of liabilities) shall be cash or Cash Equivalents,” 

(b) amending and restating the last paragraph thereof in its entirety as follows: 

“The Administrative Agent will, upon request and at the expense of the Borrower, release its Liens on (x) any Borrowing Base
Property (and release any transferred Guarantor from the Guaranty and Collateral Agreement) permitted to be sold or otherwise transferred under this Section 9.12, or (y) any other Collateral not subject to this
Section 9.12 upon the sale or transfer thereof, in each case effective as of the time of the sale or transfer thereof; provided that in each case, the Administrative Agent may request and be entitled to rely on a certificate of a
Responsible Officer of the Borrower certifying that such sale or transfer is permitted by this Agreement. Casualty Events shall not be considered Transfers restricted by or subject to this Section 9.12.” 

Section 2.21 Amendment to Section 9.16. Section 9.16 of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 “Section 9.16 Payments of Senior Notes. Until the occurrence of Second Lien Termination, the Borrower
will not, and will not permit any Restricted Subsidiary to, call, make or offer to make any voluntary Redemption or otherwise voluntarily Redeem in any manner whatsoever (whether in whole or in part) any principal of any Debt permitted under
Section 9.02(f)(i).” 

  
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 Section 2.22 Amendment to Section 9.17. Section 9.17 of the Credit
Agreement is hereby amended adding the following clause (e) to the end thereof: 
 “or (e) the obligations of the Borrower
under the Second Lien Loan Documents to give notice of any Lien granted on Property under the Loan Documents and to grant a Lien on the same Property pursuant to the Second Lien Loan Documents.” 

Section 2.23 Amendment to Section 9.19. The last paragraph of Section 9.19 of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “In no event shall any Hedging Agreement to which the Borrower or any of its Restricted
Subsidiaries is a party contain any requirement, agreement or covenant for the Borrower or any Restricted Subsidiary to post cash or other collateral or margin (except for Letters of Credit not exceeding $2,500,000 in the aggregate at any time and
collateral subject to Liens allowed under Section 9.03(d)), other than pursuant to the Security Instruments for the benefit of the Secured Hedging Providers, to secure their obligations under such Hedging Agreement or to cover market
exposures. The Loan Parties will not unwind, sell, terminate, restructure, modify or otherwise affect (“Unwind”) any Hedging Agreement in respect of commodities that was in effect at the time of the most recent Borrowing Base
determination (the “Borrowing Base Hedging Contracts”) where the net marked to market economic effect of such Hedging Agreement Restructuring on the date thereof is negative (which, if such Hedging Agreement Restructuring is settled
for cash only, shall equal the net amount of cash such Loan Parties receive), unless (a) such net marked to market economic effect of such Hedging Agreement Restructuring on the date thereof, when combined with the net marked to market economic
effect of all other Hedging Agreement Restructurings consummated during the period since the last Redetermination Date, is less than or equal to five percent (5%) of the value of the Borrowing Base then in effect, or (b) if such net marked
to market economic effect of such Hedging Agreement Restructuring on the date thereof, when combined with the net marked to market economic effect of all other Hedging Agreement Restructurings consummated during the period since the last
Redetermination Date, is greater than five percent (5%) of the Borrowing Base then in effect, the Borrowing Base (and, prior to the Non-Conforming Tranche Termination Date, the Conforming Tranche) shall be reduced effective immediately upon
such Hedging Agreement Restructuring by an amount equal to the portion of the Borrowing Base attributable to such net economic effect of the Hedging Agreement Restructuring (based on the economic assumptions consistent with the Administrative
Agent’s lending requirements at that time), and any mandatory prepayments required by Section 3.04(c)(iii) shall be made no later than one Business Day after the later of (x) the date notice of such Unwind is required to be
given by the Borrower under Section 8.01(k) and (y) the date the Borrower receives written notice from the Administrative Agent of the amount of such Borrowing Base reduction.” 

  
 25 

 Section 2.24 Amendment to Article IX. Article IX of the Credit Agreement is hereby
amended by adding the following Sections 9.21 and 9.22 to the end thereof: 
 “Section 9.21 Second Lien Debt. 

(a) No Loan Party shall call, make or offer to make, or caused to be called, made or offered, any Redemption in respect of, or otherwise
Redeem, Second Lien Debt or Permitted Refinancing Debt, except, so long as no Default or Event of Default exists immediately prior to or after giving effect thereto: 

(i) regularly scheduled amortization payments as set forth in the Second Lien Credit Agreement as in effect on the Eleventh
Amendment Effective Date; 
 (ii) prepayments of Second Lien Debt with the proceeds of Permitted Refinancing Debt; and 

(iii) prepayments of Second Lien Debt or Permitted Refinancing Debt (including any premiums and MOIC Amount (as defined in
the Second Lien Credit Agreement)) with the net cash proceeds of any Transfer permitted by Section 9.12 (other than an Excluded Transfer (as defined in the Second Lien Credit Agreement)), any Liquidation of a Hedging Agreement permitted
by Sections 8.18 and 9.19 or any Casualty Event or with the net cash proceeds from the sale or issuance of Equity Interests in the Borrower (other than Disqualified Capital Stock), in each case described in this subsection
(iii) only to the extent that: 
 (A) immediately after giving effect to such prepayment (including any such premiums
and MOIC Amount) pursuant to this clause (iii), the Liquidity and Compliance Requirements will be satisfied: and 

(B)(1) the Borrower has provided (x) written notice by facsimile or email to the Administrative Agent not later than
12:00 noon, New York, New York time, four (4) Business Days before the date of any such prepayment, specifying the Borrower’s calculations of (i) the amount of such net cash proceeds required or desired to be prepaid under the Second
Lien Credit Agreement, (ii) the amount of such net cash proceeds required to be prepaid under this Agreement (after giving effect to any Borrowing Base reduction required by Section 9.12 or Section 9.19 or otherwise as a
result of such Transfer, Liquidation, Casualty Event, sale or issuance), and (iii) the amount of such net cash proceeds required to be retained by the Borrower and the pro forma financial covenant calculations

  
 26 

 
required to be complied with by the Borrower in order to satisfy the Liquidity and Compliance Requirements, and certifying that such prepayment is permitted by Section 9.21(a), and
(y) substantially similar written notice to the Second Lien Administrative Agent as required by the Second Credit Agreement, and (2) none of the Administrative Agent, the Second Lien Administrative Agent or the Lead Investor has provided
notice to the Borrower within three (3) Business Days after receipt of such calculations from the Borrower, specifying in such notice an apparent mistake in or omission from the Borrower’s calculations; provided that if the
Administrative Agent, the Second Lien Administrative Agent or the Lead Investor provides such a notice objecting to the Borrower’s calculations, the Administrative Agent, the Lead Investor and the Borrower will consult diligently with each
other to resolve such apparent mistake or omission, and the Borrower’s obligation to make such payments will be suspended (but for no longer than ten (10) Business Days) until they have together finalized such calculations. 

(b) Neither the Loan Parties nor any of their respective Subsidiaries shall grant a Lien in favor of the Second Lien Agent or otherwise
securing the Second Lien Debt or any Permitted Refinancing Debt on any of its assets if those same assets are not subject to, and do not become subject to, a Lien securing the Indebtedness pursuant to the Security Instruments. 

(c) No Loan Party shall permit any of its Subsidiaries to be a guarantor of the Second Lien Debt or any Permitted Refinancing Debt if such
Subsidiary (i) is not a party to, and does not become a party to, the Guaranty and Collateral Agreement and (ii) has not taken such other actions required by Section 8.14(b). 

(d) No Loan Party shall amend, modify, waive or otherwise change, consent or agree to any amendment, modification, waiver or other change to,
any of the terms of the Second Lien Credit Agreement, any other Second Lien Loan Document, any Permitted Refinancing Debt that is secured Debt or any Permitted Refinancing Documents related thereto, except in accordance with the terms of the
Intercreditor Agreement. 
 (e) In the case of Permitted Refinancing Debt that is unsecured Debt or any Permitted Refinancing Documents
related thereto, no Loan Party shall amend, modify, waive or otherwise change, consent or agree to any amendment, modification, waiver or other change to, any of the terms of any such Permitted Refinancing Debt or any Permitted Refinancing Document
related thereto if the effect thereof would be to shorten its maturity or average life or increase the amount of any payment of principal thereof or increase the rate or shorten any period for payment of interest thereon; provided that the
foregoing shall not 

  
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prohibit the execution of supplemental indentures to add guarantors if required by the terms of the Permitted Refinancing Documents to the extent that each such Person becomes a party to the
Guaranty and Collateral Agreement and takes such other actions required by Section 8.14(b).” 
 Section 2.25
Amendment to Section 10.01(d). Section 10.01(d) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(d) Any Loan Party or any Restricted Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in
Section 8.01 (prior to Second Lien Termination) or Section 8.01(i) or (m)(i) (after Second Lien Termination), Section 8.02, Section 8.03, Section 8.12, Section 8.13,
Section 8.14, Section 8.15, Section 8.16, Section 8.19, or in ARTICLE IX.” 

Section 2.26 Amendment to Section 10.01. Section 10.01 of the Credit Agreement is hereby amended adding the following
paragraphs (o) and (p) to the end thereof: 
 “(o) The Intercreditor Agreement shall, in whole or in part, cease to be
effective or cease to be legally valid, binding and enforceable against any party thereto (or against any Person on whose behalf any such party makes any covenants or agreements therein), or otherwise not be effective to create the rights and
obligations purported to be created thereunder, in each case, prior to Second Lien Termination.” 
 “(p) Any Event of Default (as
defined in the Second Lien Credit Agreement) shall occur.” 
 Section 2.27 Amendment to Section 11.06.
Section 11.06 of the Credit Agreement is hereby amended by add the following language to the end thereof: 
 “If a Lender ceases
to be an Agent pursuant to this Section 11.06, such Lender shall automatically cease to be a Swingline Lender and an Issuing Bank, as applicable, unless such Lender agrees otherwise.” 

Section 2.28 Amendment to Section 11.09. Section 11.09 of the Credit Agreement is hereby amended by amending and
restating the first sentence thereof in its entirety as follows: 
 “Each Lender and each Issuing Bank hereby authorizes the
Administrative Agent to release any Collateral that the Administrative Agent is permitted or required to release pursuant to Section 9.12 or that is otherwise permitted to be sold or released pursuant to the terms of the Loan Documents,
to confirm that expired leases and plugged and abandoned wells are no longer Collateral, and to release from the Guaranty and Collateral Agreements any Guarantor that is permitted to be sold or disposed of, or converted into an Unrestricted
Subsidiary, pursuant to the terms of the Loan Documents.” 

  
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 Section 2.29 Amendment to Article XI. Article XI of the Credit Agreement is hereby
amended by adding the following Section 11.12 to the end thereof: 
 “Section 11.12 Intercreditor Agreement. Each Lender
(and each Person that becomes a Lender hereunder pursuant to Section 12.04 prior to Second Lien Termination), on behalf of itself and its Affiliates who are Secured Hedging Providers and Secured Treasury Management Counterparties, and
each Secured Hedging Provider and Secured Treasury Management Counterparty, by accepting the benefits of the Collateral, hereby (a) acknowledges that it has received a copy of the Intercreditor Agreement, (b) authorizes and directs the
Administrative Agent to enter into the Intercreditor Agreement on behalf of such Lender, Secured Hedging Provider or Secured Treasury Management Counterparty and agrees that it may take such actions on its behalf as is contemplated by the terms of
the Intercreditor Agreement, (c) authorizes the Administrative Agent to enter into any amendments to the Security Instruments that are necessary in order to reference the Intercreditor Agreement in such Instruments, and (d) agrees to be
bound by the terms of the Intercreditor Agreement.” 
 Section 2.30 Amendment to Section 12.02(b)(vi).
Section 12.02(b)(vi) of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “(vi) release all or
substantially all of the Guarantors, release all or substantially all of the Collateral, reduce the percentage set forth in Section 8.14(a) to less than the Mortgage Threshold (or, with respect to the proved Oil and Gas Properties
located in San Juan County, Utah, to less than one hundred percent (100%) of the Loan Parties’ proved Oil and Gas Properties located in San Juan County, Utah), or reduce either of the percentages set forth in the definition of
“Mortgage Threshold”, without the written consent of each Lender,” 
 Section 2.31 Amendment to
Section 12.03(b). Section 12.03(b) of the Credit Agreement is hereby amended by: 
 (a) inserting “,
PENALTIES” immediately following the words “ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES” where they appear therein; and 

(b) amending and restating clause (B) of the proviso at the end thereof in its entirety as follows: 

“(B) RELATE TO CLAIMS BETWEEN OR AMONG ANY OF THE LENDERS, THE AGENT, ARRANGERS OR ANY OF THEIR SHAREHOLDERS, PARTNERS OR MEMBERS TO
THE EXTENT SUCH CLAIMS (1) DO NOT INVOLVE AN ACT OR OMISSION OF THE BORROWER OR ITS RELATED PARTIES AND (2) ARE NOT BROUGHT AGAINST AN ARRANGER, AGENT OR ISSUING BANK IN ITS CAPACITY AS SUCH, OR”. 

Section 2.32 Amendment to Section 12.04(b)(ii). Section 12.04(b)(ii) of the Credit Agreement is hereby amended by
replacing “$10,000,000” where it appears therein with “$8,000,000”. 

  
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 Section 2.33 Amendment to Section 12.04(c). Section 12.04(c) of the Credit
Agreement is hereby amended by adding the following paragraph (iii) to the end thereof: 
 “(iii) Each Lender that sells a
participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s
interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the
identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is
necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive
absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of
doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.” 

Section 2.34 Amendment to Section 12.17. Section 12.17 of the Credit Agreement is hereby amended by replacing each
instance of the words “Financing Documents” appearing therein with “Loan Documents”. 
 Section 2.35 Addition of
Schedule 7.26. Annex A hereto regarding Deposit Accounts and Securities Accounts is hereby added to the Credit Agreement as Schedule 7.26. 

Section 2.36 Addition of Exhibit I. The forms of U.S. Tax Compliance Certificates attached as Annex B hereto are hereby added to
the Credit Agreement as Exhibits I-1 through I-4. 
 ARTICLE III  

Conditions Precedent 
 The
amendments set forth in Article II and the Borrowing Base redetermination set forth in Section 6.08 of this Eleventh Amendment shall become effective on the first Business Day on which all of the following conditions precedent shall have
been satisfied (or waived in accordance with Section 12.02 of the Credit Agreement) (the “Eleventh Amendment Effective Date”): 

(a) The Administrative Agent shall have received from the Borrower, each of the Guarantors and the Required Lenders counterparts (in such
number as may be requested by the Administrative Agent) of this Eleventh Amendment signed on behalf of such Persons. 
 (b) The
Administrative Agent shall have received from the Borrower in immediately available funds all fees and amounts due and payable on or prior to the Eleventh Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all
out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder. 

  
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 (c) The Second Lien Loan Documents shall be in full force and effect, the closing under the
Second Lien Credit Agreement shall have occurred or shall occur substantially concurrently with the Eleventh Amendment Effective Date and the Borrower shall have received or shall receive substantially concurrently with the Eleventh Amendment
Effective Date gross loan proceeds thereunder (prior to deduction of any fees or expenses) of $150,000,000. 
 (d) The Second Lien Agent
shall have entered into the Intercreditor Agreement with respect to the Second Lien with the Administrative Agent, the Borrower and the Guarantors, and such Intercreditor Agreement shall be in form and substance satisfactory to the Lenders and in
full force and effect. 
 (e) The amount equal to (i) the Borrowing Base in effect after giving effect to Section 6.08 of
this Eleventh Amendment minus (ii) the total Credit Exposures on the Eleventh Amendment Effective Date after giving effect to the Amendment Transactions shall not be less than $85,000,000. 

(f) The Administrative Agent shall have received appropriate UCC search certificates reflecting no Liens encumbering the Properties of the
Loan Parties for all jurisdictions requested by the Administrative Agent, other than Liens permitted by Section 9.03 of the Credit Agreement. 

(g) The net cash proceeds of the Second Lien Debt will be applied on the Eleventh Amendment Effective Date to partially repay the Loans on the
Eleventh Amendment Effective Date. 
 (h) The Administrative Agent shall have received from each party thereto duly executed counterparts
(in such number as may be requested by the Administrative Agent) of additional Mortgages, supplements and amendments to existing Mortgages (including any curative documents with respect thereto), and amendments to other Security Instruments as
reasonably requested by the Administrative Agent. 
 (i) The Administrative Agent shall have received an opinion addressed to the
Administrative Agent and the Lenders from each of (i) Utah counsel to the Loan Parties and (ii) Wyoming counsel to the Loan Parties, in each case in form and substance reasonably satisfactory to the Administrative Agent. 

(j) The Administrative Agent (acting on behalf of the Lenders), Resolute Aneth, the Borrower and NNOG, shall have executed and delivered the
Subordination Agreement, in form and substance reasonably satisfactory to the Administrative Agent. 
 ARTICLE IV 

Representations and Warranties 

Each Loan Party hereby represents and warrants to each Lender that: 

(a) Each of the representations and warranties made by it under the Credit Agreement and each other Loan Document is, or will be, true and
correct on and as of the actual date of its execution of this Eleventh Amendment, as if made on and as of such date, except for any representations and warranties made as of a specified date, which are true and correct as of such specified date.

  
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 (b) Immediately after giving effect to this Eleventh Amendment and the Amendment Transactions, no
Default has, or will have, occurred and is, or will be, continuing. 
 (c) The execution, delivery and performance by it of this Eleventh
Amendment, any other Loan Documents executed in connection herewith and the Second Lien Loan Documents have been duly authorized by it. 

(d) Each of this Eleventh Amendment and any other Loan Document executed in connection herewith constitutes its legal, valid and binding
obligation, enforceable against it in accordance with its terms. 
 (e) The execution, delivery and performance by it of this Eleventh
Amendment, any other Loan Documents executed in connection herewith and the Second Lien Loan Documents (i) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority or any other
third Person (including shareholders or any class of directors, whether interested or disinterested, of it or any other Person), nor is any such consent, approval, registration, filing or other action necessary for the validity or enforceability of
this Eleventh Amendment, any such Loan Document, any Second Lien Loan Document or the consummation of the Amendment Transactions, except such as have been obtained or made and are in full force and effect other than those third party approvals or
consents which, if not made or obtained, would not cause a Default hereunder, could not reasonably be expected to have a Material Adverse Effect or do not have an adverse effect on the enforceability of the Loan Documents, (ii) will not violate
any applicable law or regulation or the charter, by-laws or other organizational documents of it or any Restricted Subsidiary or any order of any Governmental Authority, (iii) will not violate or result in a default under any indenture,
agreement or other instrument binding upon it or any Restricted Subsidiary or its Properties, or give rise to a right thereunder to require any payment to be made by the it or such Restricted Subsidiary and (iv) will not result in the creation
or imposition of any Lien on any Property of any Loan Party or any Restricted Subsidiary (other than the Liens created by this Eleventh Amendment, the Loan Documents or the Second Lien Loan Documents as permitted by the Credit Agreement as amended
hereby). 
 ARTICLE V 

Covenant 

Section 5.01 Control Agreements. Within thirty (30) days after the Eleventh Amendment Effective Date (as such deadline may be
extended by the Administrative Agent in its sole discretion), the Loan Parties shall deliver to the Administrative Agent fully executed control agreements with respect to each Deposit Account and each Securities Account (each, as defined in the
Guaranty and Collateral Agreement) of the Loan Parties, in each case, granting “control” to the Administrative Agent on behalf of the Secured Parties and otherwise in form and substance satisfactory to the Administrative Agent. 

  
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 Section 5.02 Mortgages. On or before the Mortgage Threshold Date, the Loan Parties
shall deliver to the Administrative Agent duly executed counterparts (in such number as may be requested by the Administrative Agent) of additional Mortgages, supplements and amendments to existing Mortgages (including any curative documents with
respect thereto), and amendments to other Security Instruments, such that the Administrative Agent shall be reasonably satisfied that the Security Instruments create first priority, perfected Liens (subject only to Excepted Liens, but subject to the
proviso at the end of such definition) on proved Oil and Gas Properties constituting (A) one hundred percent (100%) of the Loan Parties’ proved Oil and Gas Properties located in San Juan County, Utah and (B) in the aggregate, at
least ninety percent (90%) of the total value of the proved Oil and Gas Properties evaluated in the most recent Reserve Report. 

ARTICLE VI 

Miscellaneous 

Section 6.01 Credit Agreement in Full Force and Effect as Amended. Except as specifically amended hereby, the Credit Agreement and
other Loan Documents shall remain in full force and effect. Each of the Loan Parties hereby agrees that its liabilities under the Credit Agreement, the Guaranty and Collateral Agreement and the other Loan Documents, in each case as amended, to which
it is a party, shall remain enforceable against such Loan Party in accordance with the terms thereof and shall not be reduced, altered, limited, lessened or in any way affected by the execution and delivery of this Eleventh Amendment, and each Loan
Party hereby confirms and ratifies its liabilities under the Loan Documents (as so amended) to which it is a party in all respects. Except as expressly set forth herein, this Eleventh Amendment shall not be deemed to be a waiver, amendment or
modification of any provisions of the Credit Agreement or any other Loan Document or any right, power or remedy of the Administrative Agent or Lenders, or constitute a waiver of any provision of the Credit Agreement or any other Loan Document, or
any other document, instrument and/or agreement executed or delivered in connection therewith or of any Default or Event of Default under any of the foregoing, in each case whether arising before or after the date hereof or as a result of
performance hereunder or thereunder. This Eleventh Amendment also shall not preclude the future exercise of any right, remedy, power, or privilege available to the Administrative Agent and/or Lenders whether under the Credit Agreement, the other
Loan Documents, at law or otherwise. The parties hereto agree to be bound by the terms and conditions of the Credit Agreement and Loan Documents as amended by this Eleventh Amendment, as though such terms and conditions were set forth herein. Each
reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of similar import shall mean and be a reference to the Credit Agreement as amended by this Eleventh Amendment,
and each reference herein or in any other Loan Documents to the “Credit Agreement” shall mean and be a reference to the Credit Agreement as amended and modified by this Eleventh Amendment. 

Section 6.02 GOVERNING LAW. THIS ELEVENTH AMENDMENT, AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER, SHALL BE
CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 Section 6.03 Descriptive Headings,
Etc. The descriptive headings of the sections of this Eleventh Amendment are inserted for convenience only and shall not be deemed to affect the 

  
 33 

 
meaning or construction of any of the provisions hereof. The statements made and the terms defined in the recitals to this Eleventh Amendment are hereby incorporated into this Eleventh Amendment
in their entirety. 
 Section 6.04 Payment of Fees and Expenses. The Borrower agrees to pay or reimburse the Administrative
Agent for all of its reasonable out-of-pocket costs and expenses incurred in connection with this Eleventh Amendment, the other Loan Documents and any other documents prepared in connection herewith and the transactions contemplated hereby,
including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent. The agreement set forth in this Section 6.04 shall survive the termination of this Eleventh Amendment and the Credit Agreement. 

Section 6.05 Entire Agreement. This Eleventh Amendment and the documents referred to herein represent the entire understanding of
the parties hereto regarding the subject matter hereof and supersede all prior and contemporaneous oral and written agreements of the parties hereto with respect to the subject matter hereof. This Eleventh Amendment is a Loan Document executed under
the Credit Agreement. 
 Section 6.06 Counterparts. This Eleventh Amendment may be executed in any number of counterparts and by
different parties on separate counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one agreement. Delivery of an executed counterpart of the signature page of this Eleventh Amendment by
facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart thereof. 
 Section 6.07
Successors. The execution and delivery of this Eleventh Amendment by any Lender shall be binding upon each of its successors and assigns. 

Section 6.08 Scheduled Redetermination of the Borrowing Base. Effective as of the date hereof, the Borrowing Base shall be
$330,000,000, subject to future redeterminations as provided in the Credit Agreement. The Borrower and the Lenders agree that this redetermination shall constitute the Scheduled Redetermination scheduled to occur on October 1, 2014, as extended
to November 15, 2014 pursuant to that certain Consent Agreement dated as of October 13, 2014 by and among the Borrower, the Guarantors, the Administrative Agent and the Lenders party thereto. 

Section 6.09 Deposit Account Control Agreements. Each Loan Party hereby acknowledges on behalf of itself and its Subsidiaries that
this Eleventh Amendment constitutes notice by the Administrative Agent pursuant to Section 6.02(c)(i) of the Guaranty and Collateral Agreement that the Administrative Agent is requiring Grantors (as defined in the Guaranty and Collateral
Agreement) to execute control agreements with respect to Deposit Accounts and Securities Accounts (each, as defined in the Guaranty and Collateral Agreement). 

Section 6.10 Release. 

(a) In consideration of, among other things, the execution and delivery of this Eleventh Amendment by the Administrative Agent and the
Lenders party hereto, each of the Borrower and the other Loan Parties, on behalf of itself and its agents, representatives, officers, directors, advisors, employees, subsidiaries, affiliates, successors and assigns

  
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(collectively, “Releasors”), hereby forever agrees and covenants not to sue or prosecute against any Releasee (as defined below) and hereby forever waives, releases and
discharges each Releasee from any and all claims (including, without limitation, crossclaims, counterclaims, rights of set-off and recoupment), actions, causes of action, suits, debts, accounts, interests, liens, promises, warranties, damages and
consequential damages, demands, agreements, bonds, bills, specialties, covenants, controversies, variances, trespasses, judgments, executions, costs, expenses or claims whatsoever that such Releasor now has or may have, of whatsoever nature and
kind, whether known or unknown, whether now existing or hereafter arising, whether arising at law or in equity (collectively, the “Claims”), against the Administrative Agent or any or all of the Lenders in any capacity and their
respective affiliates, subsidiaries, shareholders and “controlling persons” (within the meaning of the federal securities laws), and their respective successors and assigns and each and all of the officers, directors, employees, agents,
attorneys, advisors and other representatives of each of the foregoing (collectively, the “Releasees”), to the extent based on facts, whether or not now known, existing on or before the Eleventh Amendment Effective Date, that relate
to, arise out of or otherwise are in connection with: (i) any or all of the Loan Documents or transactions contemplated thereby or any actions or omissions in connection therewith or (ii) any aspect of the dealings or relationships between
or among the Borrower and the other Loan Parties, on the one hand, and the Administrative Agent and any or all of the Lenders, on the other hand, relating to any or all of the documents, transactions, actions or omissions referenced in clause
(i) hereof. The releases under this Section 6.10 do not, however, release any Releasees from their obligations, in each case pursuant to and to the extent expressly required by the terms and conditions in the Loan Documents, to make Loans
hereafter, to issue Letters of Credit hereafter or to hereafter take any other actions expressly required by the Loan Documents to be taken hereafter. In entering into this Eleventh Amendment, the Borrower and each other Loan Party consulted with,
and has been represented by, legal counsel and expressly disclaims any reliance on any representations, acts or omissions by any of the Releasees and hereby agrees and acknowledges that the validity and effectiveness of the releases set forth above
do not depend in any way on any such representations, acts and/or omissions or the accuracy, completeness or validity thereof. The provisions of this Section shall survive the termination of this Eleventh Amendment, the Credit Agreement, the other
Loan Documents and payment in full of the Indebtedness. 
 (b) Each of the Borrower and other Loan Parties, on behalf of itself and its
successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably covenants and agrees with and in favor of each Releasee that it will not sue (at law, in equity, in any regulatory proceeding or otherwise) any
Releasee on the basis of any Claim released, remised and discharged by the Borrower or any other Loan Party pursuant to Section 6.10(a) hereof. If the Borrower, any other Loan Party or any of its successors, assigns or other legal
representatives violates the foregoing covenant, the Borrower and other Loan Parties, each for itself and its successors, assigns and legal representatives, agrees to pay, in addition to such other damages as any Releasee may sustain as a result of
such violation, all attorneys’ fees and costs incurred by any Releasee as a result of such violation. 
 (c) The Borrower and other
Loan Parties acknowledge that they are aware that they or their attorneys or others may hereafter discover claims or facts presently unknown or unsuspected in addition to or different from those which they now know or believe to be true with respect
to the subject matter of the Claims being released pursuant to Section 6.10(a) 

  
 35 

 
hereof. Nevertheless, it is the intention of the Borrower and other Loan Parties in executing this Eleventh Amendment to fully, finally, and forever settle and release all matters and all claims
relating thereto and to the other Loan Documents, which exist, hereafter may exist or might have existed (whether or not previously or currently asserted in any action) constituting Claims released pursuant to Section 6.10(a) hereof. The
Borrower and other Loan Parties each hereby knowingly and voluntarily waive and relinquish the provisions, rights and benefits of all federal or state laws, rights, rules, or legal principles of any jurisdiction that may be applicable to the release
set forth in this Section 6.10, and any rights they may have to invoke the provisions of any such law now or in the future with respect to the Claims being released pursuant to Section 6.10(a) hereof, and the Borrower and other Loan
Parties hereby agree and acknowledge that this is an essential term of the releases set forth in this Section 6.10. 
 [Signatures
Begin on Next Page] 

  
 36 

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

							
	BORROWER:	 		 	
			
		 		 	RESOLUTE ENERGY CORPORATION
				
		 		 	By:	 	/s/ James M. Piccone
		 		 		 	    James M. Piccone
		 		 		 	    President
			
	GUARANTORS:	 		 	HICKS ACQUISITION COMPANY I, INC.
			
		 		 	RESOLUTE ANETH, LLC
			
		 		 	RESOLUTE WYOMING, INC. (f/k/a Primary Natural Resources, Inc.)
			
		 		 	RESOLUTE NATURAL RESOURCES COMPANY, LLC (f/k/a Resolute Natural Resources Company)
			
		 		 	BWNR, LLC
			
		 		 	WYNR, LLC
			
		 		 	RESOLUTE NORTHERN ROCKIES, LLC
			
		 		 	RESOLUTE NATURAL RESOURCES
		 		 	SOUTHWEST, LLC
				
		 		 	By:	 	/s/ James M. Piccone
		 		 		 	     James M. Piccone

		 		 		 	     President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	ADMINISTRATIVE AGENT	 		 	
		 		 	WELLS FARGO BANK, NATIONAL ASSOCIATION, successor-by-merger to Wachovia Bank, National Association, as Administrative Agent
		 		 	By:	 	 /s/ Suzanne Ridenhour

		 		 	Name:	 	Suzanne Ridenhour
		 		 	Title:	 	Director

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	BANK OF MONTREAL
				
		 		 	By:	 	/s/ Gumaro Tijerina
		 		 	Name: Gumaro Tijerina
		 		 	Title: Managing Director

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	BARCLAYS BANK PLC
				
		 		 	By:	 	/s/ Christine Aharonian
		 		 	Name: Christine Aharonian
		 		 	Title: Vice President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	U.S. BANK NATIONAL ASSOCIATION
				
		 		 	By:	 	/s/ Brad Johann
		 		 	Name: Brad Johann
		 		 	Title: Vice President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	MUFG UNION BANK, N.A.
		 		 	(fka UNION BANK, N.A.)
				
		 		 	By:	 	/s/ Malcolm D. McDuffie
		 		 	Name: Malcolm D. McDuffie
		 		 	Title:   Director

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	BRANCH BANKING AND TRUST COMPANY
				
		 		 	By:	 	/s/ Kelly Graham
		 		 	Name: Kelly Graham
		 		 	Title: Vice President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	CAPITAL ONE, NATIONAL ASSOCIATION
				
		 		 	By:	 	/s/ Kristin N. Oswald
		 		 	Name: Kristin N. Oswald
		 		 	Title:   Vice President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	COMERICA BANK
				
		 		 	By:	 	/s/ Devin S. Eaton
		 		 	Name: Devin S. Eaton
		 		 	Title:   Relationship Manager

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	SUNTRUST BANK
				
		 		 	By:	 	/s/ Shannon Juhan
		 		 	Name: Shannon Juhan
		 		 	Title:   Vice President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	ING CAPITAL LLC
				
		 		 	By:	 	/s/ Michael Price
		 		 	Name:	 	Michael Price
		 		 	Title:	 	Managing Director
				
		 		 	By:	 	/s/ Juli Bieser
		 		 	Name:	 	Juli Bieser
		 		 	Title:	 	Director

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	KEY BANK NATIONAL ASSOCIATION
				
		 		 	By:	 	/s/ Keven Smith
		 		 	Name:	 	Keven Smith
		 		 	Title:	 	Senior Vice President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	ASSOCIATED BANK, N.A.
				
		 		 	By:	 	/s/ Brian Caddell
		 		 	Name: Brian Caddell
		 		 	Title: Senior Vice President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	CADENCE BANK, N.A.
				
		 		 	By:	 	/s/ Steven Taylor
		 		 	Name: Steven Taylor
		 		 	Title: Vice President

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

							
	LENDER:	 		 	GUARANTY BANK AND TRUST COMPANY
				
		 		 	By:	 	/s/ Cathy P. Goss
		 		 	Name:	 	Cathy P. Goss
		 		 	Title:	 	EVP – Chief Credit Officer

 Signature Page to 

Eleventh Amendment to Second Amended and Restated Credit Agreement 

 ANNEX B 

Exhibits I-1 – I-4 

See attached. 

 EXHIBIT I-1 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Second Amended and Restated Credit Agreement dated as of March 29, 2010 (together with all amendments,
restatements, supplements or other modifications thereto, the “Credit Agreement”), among Resolute Energy Corporation, a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower as guarantors,
Wells Fargo Bank, National Association, as Administrative Agent, and the other agents and lenders which are or become parties thereto (the “Lenders”). 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it
is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person status on IRS Form W-8BEN or
IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the
undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of
the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	 By:
	 	 
		 	Name:
		 	Title:

 Date: ________ __, 20[  ] 

 EXHIBIT I-2 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Second Amended and Restated Credit Agreement dated as of March 29, 2010 (together with all amendments,
restatements, supplements or other modifications thereto, the “Credit Agreement”), among Resolute Energy Corporation, a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower as guarantors,
Wells Fargo Bank, National Association, as Administrative Agent, and the other agents and lenders which are or become parties thereto (the “Lenders”). 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the
Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form
W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all
times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	 By:
	 	 
		 	Name:
		 	Title:

 Date: ________ __, 20[  ] 

 EXHIBIT I-3 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Second Amended and Restated Credit Agreement dated as of March 29, 2010 (together with all amendments,
restatements, supplements or other modifications thereto, the “Credit Agreement”), among Resolute Energy Corporation, a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower as guarantors,
Wells Fargo Bank, National Association, as Administrative Agent, and the other agents and lenders which are or become parties thereto (the “Lenders”). 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the
undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its
participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY
accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either
the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	 By:
	 	 
		 	Name:
		 	Title:

 Date: ________ __, 20[  ] 

 EXHIBIT I-4 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Second Amended and Restated Credit Agreement dated as of March 29, 2010 (together with all amendments,
restatements, supplements or other modifications thereto, the “Credit Agreement”), among Resolute Energy Corporation, a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower as guarantors,
Wells Fargo Bank, National Association, as Administrative Agent, and the other agents and lenders which are or become parties thereto (the “Lenders”). 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any
Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit
pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the
Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the following forms from
each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such
partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the
calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF LENDER]
		
	 By:
	 	 
		 	Name:
		 	Title:

 Date: ________ __, 20[  ]

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