Document:

INDENTURE DATED AS OF SEPTEMBER 19, 2012

 Exhibit 4.1 
 Execution Copy 
 GMX RESOURCES INC., 

as the Issuer, 

and 
 U.S. BANK
NATIONAL ASSOCIATION, 
 as Trustee 
 and 
 Collateral Agent 

 
  

INDENTURE 
 Dated
as of September 19, 2012 
  
  

Senior Secured Second-Priority Notes due 2018 

 CROSS-REFERENCE TABLE 

 

			
	 TIA Section
	  	 Indenture Section

	 310(a)(1)
	  	7.10
	 (a)(2)
	  	7.10
	 (a)(3)
	  	N.A.
	 (a)(4)
	  	N.A.
	 (a)(5)
	  	7.8; 7.10
	 (b)
	  	7.3; 7.8; 7.10; 12.2
	 (c)
	  	N.A.
	 311(a)
	  	7.11
	 (b)
	  	7.11
	 (c)
	  	N.A.
	 312(a)
	  	2.5
	 (b)
	  	11.3
	 (c)
	  	11.3
	 313(a)
	  	7.6
	 (b)(1)
	  	N.A.
	 (b)(2)
	  	7.6
	 (c)
	  	7.6; 12.2
	 (d)
	  	7.6
	 314(a)
	  	4.6; 12.2
	 (b)
	  	11.5
	 (c)(1)
	  	11.4; 11.5; 12.4; 12.5
	 (c)(2)
	  	11.4; 11.5; 12.4; 12.5
	 (c)(3)
	  	N.A.
	 (d)
	  	11.6; 12.5
	 (e)
	  	12.5
	 (f)
	  	N.A.
	 315(a)
	  	7.1; 7.2
	 (b)
	  	7.5; 12.2
	 (c)
	  	7.1
	 (d)
	  	6.5; 7.1; 7.2
	 (e)
	  	6.11
	 316(a)(last sentence)
	  	2.9
	 (a)(1)(A)
	  	6.5
	 (a)(1)(B)
	  	6.4
	 (a)(2)
	  	9.2
	 (b)
	  	6.7
	 (c)
	  	9.4
	 317(a)(1)
	  	6.8
	 (a)(2)
	  	6.9
	 (b)
	  	2.4
	 318(a)
	  	11.1
	 (b)
	  	N.A.
	 (c)
	  	11.1

  
 N.A.
means Not Applicable 
 NOTE: This Cross-Reference Table shall not, for any purpose, be deemed to be a part of this Indenture. 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I
	  			
		
	 DEFINITIONS AND INCORPORATION BY REFERENCE
	  			
			
	 Section 1.1
	  	Definitions	  	 	1	  
	 Section 1.2
	  	Incorporation by Reference of TIA	  	 	40	  
	 Section 1.3
	  	Rules of Construction	  	 	41	  
		
	 ARTICLE II
	  			
		
	 THE NOTES
	  			
	 Section 2.1
	  	Form and Dating	  	 	41	  
	 Section 2.2
	  	Execution and Authentication; Aggregate Principal Amount	  	 	42	  
	 Section 2.3
	  	Registrar and Paying Agent	  	 	43	  
	 Section 2.4
	  	Paying Agent To Hold Assets in Trust	  	 	43	  
	 Section 2.5
	  	Holder Lists	  	 	44	  
	 Section 2.6
	  	Transfer and Exchange	  	 	44	  
	 Section 2.7
	  	Replacement Notes	  	 	47	  
	 Section 2.8
	  	Outstanding Notes	  	 	48	  
	 Section 2.9
	  	Treasury Notes	  	 	48	  
	 Section 2.10
	  	Temporary Notes	  	 	48	  
	 Section 2.11
	  	Cancellation	  	 	49	  
	 Section 2.12
	  	Defaulted Interest	  	 	49	  
	 Section 2.13
	  	CUSIP Number	  	 	50	  
	 Section 2.14
	  	Deposit of Monies or Shares of the Issuer’s Common Stock	  	 	50	  
	 Section 2.15
	  	Legends	  	 	50	  
	 Section 2.16
	  	Designation	  	 	52	  
	 Section 2.17
	  	Payment of Interest	  	 	52	  
		
	 ARTICLE III
	  			
		
	 REDEMPTION
	  			
	 Section 3.1
	  	Notices to Trustee	  	 	53	  
	 Section 3.2
	  	Selection of Notes To Be Redeemed	  	 	53	  
	 Section 3.3
	  	Mandatory and Optional Redemption	  	 	53	  
	 Section 3.4
	  	Notice of Redemption	  	 	54	  
	 Section 3.5
	  	Effect of Notice of Redemption	  	 	55	  
	 Section 3.6
	  	Deposit of Redemption Price	  	 	55	  
	 Section 3.7
	  	Notes Redeemed in Part	  	 	55	  

  
 i 

 TABLE OF CONTENTS 

(Continued) 
  

  

							
	 	  	 	  	Page	 
		
	 ARTICLE IV
	  			
		
	 COVENANTS
	  			
			
	 Section 4.1
	  	Payment of Notes	  	 	55	  
	 Section 4.2
	  	Maintenance of Office or Agency	  	 	56	  
	 Section 4.3
	  	Organizational Existence	  	 	56	  
	 Section 4.4
	  	Payment of Taxes and Other Claims	  	 	56	  
	 Section 4.5
	  	Maintenance of Properties and Insurance	  	 	56	  
	 Section 4.6
	  	Compliance Certificate; Notice of Default	  	 	58	  
	 Section 4.7
	  	Compliance with Laws	  	 	58	  
	 Section 4.8
	  	Reports to Holders	  	 	58	  
	 Section 4.9
	  	Waiver of Stay, Extension or Usury Laws	  	 	58	  
	 Section 4.10
	  	Limitation on Restricted Payments	  	 	59	  
	 Section 4.11
	  	Payments for Consents	  	 	61	  
	 Section 4.12
	  	Change of Control	  	 	62	  
	 Section 4.13
	  	Limitation on Sales of Assets and Subsidiary Stock and Collateral Dispositions	  	 	64	  
	 Section 4.14
	  	Liens	  	 	68	  
	 Section 4.15
	  	Impairment of Security Interest; Liens on Additional Property	  	 	68	  
		
	 ARTICLE V
	  			
		
	 SUCCESSOR CORPORATION
	  			
			
	 Section 5.1
	  	Merger, Consolidation and Sale of Assets	  	 	69	  
	 Section 5.2
	  	Successor Entity Substituted	  	 	70	  
		
	 ARTICLE VI
	  			
		
	 REMEDIES
	  			
			
	 Section 6.1
	  	Events of Default	  	 	71	  
	 Section 6.2
	  	Acceleration	  	 	73	  
	 Section 6.3
	  	Other Remedies	  	 	74	  
	 Section 6.4
	  	Waiver of Past Defaults	  	 	74	  
	 Section 6.5
	  	Control by Majority	  	 	74	  
	 Section 6.6
	  	Limitation on Suits	  	 	74	  
	 Section 6.7
	  	Right of Holders To Receive Payment	  	 	75	  
	 Section 6.8
	  	Collection Suit by Trustee	  	 	75	  
	 Section 6.9
	  	Trustee May File Proofs of Claim	  	 	75	  
	 Section 6.10
	  	Priorities	  	 	76	  
	 Section 6.11
	  	Undertaking for Costs	  	 	76	  

  
 ii 

 TABLE OF CONTENTS 

(Continued) 
  

							
	 	  	 	  	Page	 
	 Section 6.12
	  	Restoration of Rights and Remedies	  	 	76	  
	 Section 6.13
	  	Intercreditor Agreement	  	 	77	  
		
	 ARTICLE VII
	  			
		
	 TRUSTEE
	  			
			
	 Section 7.1
	  	Duties of Trustee	  	 	77	  
	 Section 7.2
	  	Rights of Trustee	  	 	78	  
	 Section 7.3
	  	Individual Rights of Trustee	  	 	79	  
	 Section 7.4
	  	Trustee’s Disclaimer	  	 	79	  
	 Section 7.5
	  	Notice of Default	  	 	80	  
	 Section 7.6
	  	Reports by Trustee to Holders	  	 	80	  
	 Section 7.7
	  	Compensation and Indemnity	  	 	80	  
	 Section 7.8
	  	Replacement of Trustee	  	 	81	  
	 Section 7.9
	  	Successor Trustee by Merger, Etc.	  	 	82	  
	 Section 7.10
	  	Eligibility; Disqualification	  	 	82	  
	 Section 7.11
	  	Preferential Collection of Claims Against the Issuer	  	 	82	  
	 Section 7.12
	  	Force Majeure	  	 	83	  
	 Section 7.13
	  	Defaults and Events of Default	  	 	83	  
		
	 ARTICLE VIII
	  			
		
	 DISCHARGE OF INDENTURE; DEFEASANCE
	  			
			
	 Section 8.1
	  	Termination of Issuer’s Obligations	  	 	83	  
	 Section 8.2
	  	Application of Trust Money	  	 	85	  
	 Section 8.3
	  	Repayment to the Issuer	  	 	86	  
	 Section 8.4
	  	Reinstatement	  	 	86	  
	 Section 8.5
	  	Acknowledgment of Discharge by Trustee	  	 	86	  
		
	 ARTICLE IX
	  			
		
	 MODIFICATION OF THE INDENTURE
	  			
			
	 Section 9.1
	  	Without Consent of Holders	  	 	87	  
	 Section 9.2
	  	With Consent of Holders	  	 	88	  
	 Section 9.3
	  	Compliance with Trust Indenture Act	  	 	89	  
	 Section 9.4
	  	Revocation and Effect of Consents	  	 	89	  
	 Section 9.5
	  	Notation on or Exchange of Notes	  	 	90	  
	 Section 9.6
	  	Trustee To Sign Amendments, Etc.	  	 	90	  

  
 iii

 TABLE OF CONTENTS 

(Continued) 
  

							
	 	  	 	  	Page	 
		
	 ARTICLE X
	  			
		
	 INTERCREDITOR AGREEMENT
	  			
			
	 Section 10.1
	  	Intercreditor Agreement	  	 	90	  
		
	 ARTICLE XI
	  			
		
	 COLLATERAL
	  			
			
	 Section 11.1
	  	Security Documents	  	 	90	  
	 Section 11.2
	  	Collateral Agent	  	 	91	  
	 Section 11.3
	  	Authorization of Actions to be Taken	  	 	92	  
	 Section 11.4
	  	Information Regarding the Collateral	  	 	93	  
	 Section 11.5
	  	Release of Collateral	  	 	94	  
	 Section 11.6
	  	Use of Collateral; Compliance with Section 314(d) of the TIA	  	 	95	  
	 Section 11.7
	  	Maintenance of Collateral	  	 	96	  
	 Section 11.8
	  	Powers Exercisable by Receiver or Trustee.	  	 	97	  
	 Section 11.9
	  	Voting	  	 	97	  
	 Section 11.10
	  	Collateral Proceeds Account	  	 	97	  
	 Section 11.11
	  	Appointment and Authorization of U.S. Bank as Collateral Agent	  	 	99	  
	 Section 11.12
	  	Post Closing Collateral	  	 	100	  
		
	 ARTICLE XII
	  			
		
	 MISCELLANEOUS
	  			
			
	 Section 12.1
	  	TIA Controls	  	 	102	  
	 Section 12.2
	  	Notices	  	 	102	  
	 Section 12.3
	  	Communications by Holders with Other Holders	  	 	103	  
	 Section 12.4
	  	Certificate and Opinion as to Conditions Precedent	  	 	103	  
	 Section 12.5
	  	Statements Required in Certificate or Opinion	  	 	103	  
	 Section 12.6
	  	Rules by Trustee, Paying Agent, Registrar	  	 	104	  
	 Section 12.7
	  	Legal Holidays	  	 	104	  
	 Section 12.8
	  	Governing Law	  	 	104	  
	 Section 12.9
	  	No Adverse Interpretation of Other Agreements	  	 	104	  
	 Section 12.10
	  	No Personal Liability	  	 	104	  
	 Section 12.11
	  	Successors	  	 	104	  
	 Section 12.12
	  	Duplicate Originals	  	 	104	  
	 Section 12.13
	  	Severability	  	 	104	  
	 Section 12.14
	  	Independence of Covenants	  	 	105	  
	 Section 12.15
	  	Conflict with Other Documents	  	 	105	  

  
 iv 

			
	 EXHIBITS
	  	 
	 Exhibit A
	  	Form of Note
	 Exhibit B
	  	Form of Intercreditor Agreement

  
 v 

 INDENTURE, dated as of September 19, 2012, among GMX Resources Inc., an Oklahoma
corporation (the “Issuer”), and U.S. Bank National Association, as Trustee (the “Trustee”) and as Collateral Agent. 
 The Issuer has duly authorized the creation of an issue of Senior Secured Second-Priority Notes due 2018 (the “Notes”) and, to provide therefor, the Issuer has duly authorized the
execution and delivery of this Indenture. All things necessary to make the Notes, when duly issued and executed by the Issuer, and authenticated and delivered under this Indenture, the valid obligations of the Issuer, and to make this Indenture a
valid and binding agreement of the Issuer, have been done. 
 Each party hereto agrees as follows for the benefit of the other
party and for the equal and ratable benefit of the Holders (as defined below) of the Notes. 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.1 Definitions. 
 “2013 Senior Convertible Notes”
means the $52.0 million aggregate principal amount of the Issuer’s 5.00% Convertible Senior Notes due 2013 outstanding on the Issue Date. 
 “2015 Senior Convertible Notes” means the $86.3 million aggregate principal amount of the Issuer’s 4.50% Convertible Senior Notes due 2015 outstanding on the Issue Date. 

“2017 Note Liens” means the first-priority perfected Liens securing the 2017 Note Obligations in favor of the 2017 Notes
Collateral Agent (subject to “Permitted Liens” as defined in the 2017 Notes Indenture) on the 2017 Notes Collateral. 

“2017 Note Obligations” means the obligations of the Issuer under the 2017 Notes, the 2017 Notes Indenture, the 2017
Notes Security Documents and the Intercreditor Agreement, collectively with all related obligations of the Issuer. 

“2017 Notes” means the senior secured notes due 2017 issued by the Issuer pursuant to the 2017 Notes Indenture, together
with any amendments, supplements, modifications, extensions, renewals, restatements or refundings thereof and any indentures or credit facilities, receivables securitization facilities or commercial paper facilities with banks or other institutional
lenders or investors that replace, refund or refinance any part of the loans, notes, credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable
thereunder, alters the maturity thereof or adds Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender, group of lenders or investors. 

  
 1 

 “2017 Notes Collateral” means substantially all right, title and interest
in or to substantially all of the assets and properties now owned or at any time hereafter acquired by the Issuer (including through an “Asset Swap” as defined in the 2017 Indenture) , including without limitation 2017 Notes Mortgages on
the Issuer’s right, title and interests in certain real property, machinery, systems, equipment, fixtures and appurtenances, subject to customary and other exceptions including, without limitation, restrictions under applicable laws or
regulations or contractual obligations. 
 “2017 Notes Collateral Agent” means the collateral agent with
respect to the 2017 Notes. 
 “2017 Notes Indenture” means the indenture among the Issuer, certain guarantors
named therein and U.S. Bank National Association, as trustee and collateral agent, pursuant to which the 2017 Notes were issued. 
 “2017 Notes Mortgaged Property” means any Property owned by the Issuer or any Restricted Subsidiary that is subject to the 2017 Note Liens. 

“2017 Notes Mortgages” means all mortgages, deeds of trust and similar documents, instruments and agreements (and all
amendments, modifications and supplements thereof) creating, evidencing, perfecting or otherwise establishing the 2017 Note Liens on 2017 Notes Mortgaged Property to secure the 2017 Note Obligations 

“2017 Notes Security Documents” means the security documents with respect to the 2017 Notes. 

“2017 Notes Trustee” means the trustee with respect to the 2017 Notes Indenture governing the 2017 Notes. 

“Additional Assets” means: 
 (1) any properties or assets (other than Indebtedness and Capital Stock) to be used by the Issuer or a Restricted Subsidiary in the Oil and Gas Business; 

(2) capital expenditures by the Issuer or a Restricted Subsidiary in the Oil and Gas Business; 

(3) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital
Stock by the Issuer or a Restricted Subsidiary; or 
 (4) Capital Stock constituting a minority interest in any
Person that at such time is a Restricted Subsidiary; 
 provided, however, that, in the case of clauses (3) and (4), such Restricted
Subsidiary is primarily engaged in the Oil and Gas Business. 

  
 2 

 “Additional Notes” means Notes, in addition to, and having identical terms
and conditions (except for a date of original issuance different than the Issue Date) as the Notes issued on the Issue Date, issued pursuant to Article II, including Section 2.1 and Section 2.17. 

“Adjusted Consolidated Net Tangible Assets” of a Person means (without duplication), as of the date of determination,
the remainder of: 
 (a) the sum of: 
 (i) discounted future net revenues from proved oil and gas reserves of such Person and its Restricted Subsidiaries calculated in accordance with SEC guidelines before any state or federal income taxes, as
estimated by the Issuer in a Reserve Report prepared as of the end of the Issuer’s most recently completed fiscal year for which audited financial statements are available, as increased by, as of the date of determination, the estimated
discounted future net revenues from 
 (A) estimated proved oil and gas reserves acquired since such year end,
which reserves were not reflected in such year end Reserve Report, and 
 (B) estimated oil and gas reserves
attributable to extensions, discoveries and other additions and upward revisions of estimates of proved oil and gas reserves (including previously estimated development costs Incurred during the period and the accretion of discount since the prior
period end) since such year end due to exploration, development or exploitation, production or other activities which would, in accordance with standard industry practice, cause such revisions, in each case calculated in accordance with SEC
guidelines (utilizing the prices for the fiscal quarter ending prior to the date of determination), 
 and decreased by, as of
the date of determination, the estimated discounted future net revenues from 
 (C) estimated proved oil and gas
reserves produced or disposed of since such year end, and 
 (D) estimated oil and gas reserves attributable to
downward revisions of estimates of proved oil and gas reserves since such year end due to changes in geological conditions or other factors which would, in accordance with standard industry practice, cause such revisions, in each case calculated on
a pre-tax basis and substantially in accordance with SEC guidelines (utilizing the prices for the fiscal quarter ending prior to the date of determination), 

  
 3 

 provided, however, that in the case of each of the determinations made pursuant to
clauses (A) through (D), such increases and decreases shall be as estimated by the Issuer’s petroleum engineers; 
 (ii) the capitalized costs that are attributable to Oil and Gas Properties of such Person and its Restricted Subsidiaries to which no proved oil and gas reserves are attributable, based on such
Person’s books and records as of a date no earlier than the date of such Person’s latest available annual or quarterly financial statements; 
 (iii) the Net Working Capital of such Person on a date no earlier than the date of such Person’s latest annual or quarterly financial statements; and 

(iv) the greater of 
 (A) the net book value of other tangible assets of such Person and its Restricted Subsidiaries, as of a date no earlier than the date of such Person’s latest annual or quarterly financial statement,
and 
 (B) the appraised value, as estimated by independent appraisers, of other tangible assets of such Person
and its Restricted Subsidiaries, as of a date no earlier than the date of such Person’s latest audited financial statements; 
 minus 
 (b) the sum of: 

(i) Minority Interests; 
 (ii) any net gas balancing liabilities of such Person and its Restricted Subsidiaries reflected in such Person’s latest audited balance sheet; 

(iii) to the extent included in (a)(i) above, the discounted future net revenues, calculated in accordance with SEC
guidelines (utilizing the prices utilized in such Person’s year end Reserve Report), attributable to reserves which are required to be delivered to third parties to fully satisfy the obligations of the Issuer and its Restricted Subsidiaries
with respect to Volumetric Production Payments (determined, if applicable, using the schedules specified with respect thereto); and 
 (iv) the discounted future net revenues, calculated in accordance with SEC guidelines, attributable to reserves subject to Dollar-Denominated Volumetric Production Payments which, based on the estimates
of production and price assumptions included in determining the discounted future net revenues specified in (a)(i) above, would be necessary to fully satisfy the payment obligations of such Person and its Subsidiaries with respect to
Dollar-Denominated Volumetric Production Payments (determined, if applicable, using the schedules specified with respect thereto). 

  
 4 

 If the Issuer changes its method of accounting from the full cost method of accounting to
the successful efforts or a similar method, “Adjusted Consolidated Net Tangible Assets” will continue to be calculated as if the Issuer were still using the full cost method of accounting. 

“adjusted daily VWAP” means the product of the daily VWAP times 0.75. 

“Affiliate” of any specified Person means any other Person, directly or indirectly, controlling or controlled by or
under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agent” means any Registrar, Paying Agent or co-Registrar. 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global
Note, the rules and procedures of the Depository, Euroclear and/or Clearstream that apply to such transfer or exchange. 

“ASC” means the Financial Accounting Standards Board’s Accounting Standards Codification. 

“ASU” means the Accounting Standards Update issued by the Financial Accounting Standards Board. 

“Asset Disposition” means any direct or indirect sale, lease (other than an operating lease entered into in the ordinary
course of the Oil and Gas Business), transfer, issuance or other disposition, or a series of related sales, leases, transfers, issuances or dispositions that are part of a common plan, of (A) shares of Capital Stock of a Restricted Subsidiary
(other than directors’ qualifying shares or shares required by applicable law to be held by a Person other than the Issuer or a Restricted Subsidiary), (B) all or substantially all the assets of any division or line of business of the
Issuer or any Restricted Subsidiary, or (C) any other assets of the Issuer or any Restricted Subsidiary outside of the ordinary course of business of the Issuer or such Restricted Subsidiary (each referred to for the purposes of this definition
as a “disposition”), in each case by the Issuer or any of its Restricted Subsidiaries, including any disposition by means of a merger, consolidation or similar transaction or a joint venture arrangement in which the Issuer or any of its
Restricted Subsidiaries contributes assets into such joint venture. For the avoidance of doubt, any dispositions of assets that are Production Payments and Reserve Sales (other than an Excluded VPP) shall be deemed to be Asset Dispositions.

  
 5 

 Notwithstanding the preceding, the following items shall not be deemed to be Asset
Dispositions: 
 (1) a disposition by the Issuer or a Restricted Subsidiary to the Issuer or a Restricted
Subsidiary; 
 (2) the sale of Cash Equivalents in the ordinary course of business; 

(3) a disposition of Hydrocarbons or mineral products inventory in the ordinary course of business; 

(4) a disposition of damaged, unserviceable, obsolete or worn out equipment or equipment that is no longer necessary for
the proper conduct of the business of the Issuer and its Restricted Subsidiaries and that is disposed of in each case in the ordinary course of business; 
 (5) transactions in accordance with Article V; 
 (6) an
issuance of Capital Stock by a Restricted Subsidiary to the Issuer or a Restricted Subsidiary; 
 (7) for
purposes of Section 4.13 only, the making of a Permitted Investment or a Restricted Payment (or a disposition that would constitute a Restricted Payment but for the exclusions from the definition thereof) permitted pursuant to
Section 4.10; provided that if any Net Available Cash is received by the Issuer or any Restricted Subsidiary as a result of such Permitted Investment or Restricted Payment, such Net Available Cash is applied in accordance with
Section 4.13 as if the assets subject to such Permitted Investment or Restricted Payment had been subject to an Asset Disposition; 
 (8) a Permitted Asset Swap; 
 (9) dispositions of assets in any
single transaction or series of related transactions that involve assets with a Fair Market Value of less than $1.0 million; 
 (10) the granting of or realization or enforcement of Permitted Liens; provided that if any Net Available Cash is received by the Issuer or any Restricted Subsidiary as a result of the realization
or enforcement of any Permitted Lien, such Net Available Cash is applied in accordance with Section 4.13 as if the assets subject to such realization or enforcement had been subject to an Asset Disposition on the date such Net Available
Cash is received by the Issuer or any Restricted Subsidiary; 
 (11) dispositions of receivables in connection
with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 

  
 6 

 (12) the licensing or sublicensing of intellectual property or other general
intangibles and licenses, leases or subleases of other property in the ordinary course of business which do not materially interfere with the business of the Issuer and its Restricted Subsidiaries; 

(13) foreclosure on assets; provided that if any Net Available Cash is received by the Issuer or any Restricted
Subsidiary as a result of such foreclosure, such Net Available Cash is applied in accordance with Section 4.13 as if the assets subject to such foreclosure had been subject to an Asset Disposition on the date such Net Available Cash is
received by the Issuer or any Restricted Subsidiary; 
 (14) any Excluded VPP; and 

(15) surrender or waiver of contract rights, oil and gas leases, or the settlement, release or surrender of contract,
tort or other claims of any kind in the ordinary course of business. 
 “Asset Disposition Offer” shall have
the meaning set forth in Section 4.13(f). 
 “Asset Swap” means any concurrent purchase and sale or
exchange of Oil and Gas Properties between the Issuer or any of its Restricted Subsidiaries and another Person (other than an Unrestricted Subsidiary); provided that any cash received must be applied in accordance with
Section 4.13 as if the Asset Swap were an Asset Disposition. 
 “Authenticating Agent” shall have
the meaning provided in Section 2.2. 
 “Average Life” means, as of the date of determination, with
respect to any Indebtedness or Preferred Stock, the quotient obtained by dividing (1) the sum of the products of the numbers of years from the date of determination to the dates of each successive scheduled principal payment of such
Indebtedness or redemption or similar payment with respect to such Preferred Stock multiplied by the amount of such payment by (2) the sum of all such payments. 
 “Bakken Collateral” shall have the meaning given to such term in the 2017 Notes Indenture. 
 “Bakken Proceeds Repurchase” shall have the meaning as set forth in Section 4.13(c)(3)(ii). 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief or bankruptcy of debtors. 

“Beneficial Owner” shall have the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the
Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all

  
 7 

 
securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only after the
passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 
 “Board of Directors” means, as to any Person that is a corporation, the board of directors of such Person or any duly authorized committee thereof or as to any Person that is not a
corporation, the board of managers or such other individual or group serving a similar function. 
 “Business
Day” means each day that is not a Saturday, Sunday or other day on which commercial banking institutions in New York, New York, Oklahoma City, Oklahoma or Houston, Texas are authorized or required by law to close. 

“Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options, participations
or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity. 

“Capitalized Lease Obligations” means an Obligation that is required to be classified and accounted for as a capitalized
lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such Obligation will be the capitalized amount of such Obligation at the time any determination thereof is to be made as determined in
accordance with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated without penalty. 

“Cash Equivalents” means: 
 (1) securities issued or directly and fully guaranteed or insured by the United States Government or any agency or instrumentality of the United States (provided that the full faith and credit of
the United States is pledged in support thereof), having maturities of not more than one year from the date of acquisition; 
 (2) marketable general obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof maturing within one year from
the date of acquisition (provided that the full faith and credit of the United States is pledged in support thereof) and, at the time of acquisition, having a credit rating of “A” (or the equivalent thereof) or better from either
Standard & Poor’s Ratings Services or Moody’s Investors Service, Inc.; 
 (3) certificates of
deposit, time deposits, eurodollar time deposits, overnight bank deposits or bankers’ acceptances having maturities of not more than one year from the date of acquisition thereof issued by any commercial bank the long-term debt of which is
rated at the time of acquisition thereof at least “A” or the equivalent thereof by Standard & Poor’s Ratings Services, or “a2” or the equivalent thereof by Moody’s Investors Service, Inc., and having combined
capital and surplus in excess of $500.0 million; 

  
 8 

 (4) repurchase obligations with a term of not more than seven days for
underlying securities of the types described in clauses (1), (2) and (3) entered into with any bank meeting the qualifications specified in clause (3) above; 

(5) commercial paper rated at the time of acquisition thereof at least “A-2” or the equivalent thereof by
Standard & Poor’s Ratings Services or “P-2” or the equivalent thereof by Moody’s Investors Service, Inc., or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating
agencies cease publishing ratings of investments, and in any case maturing within one year after the date of acquisition thereof; and 
 (6) interests in any investment company or money market fund that invests 95% or more of its assets in instruments of the type specified in clauses (1) through (5) above. 

“Casualty or Condemnation Event” means any taking under power of eminent domain or similar proceeding and any casualty
loss (including as a result of fire, earthquake, tornado, flood, hurricane, landslide, acts of terrorism or any other natural or man-made disaster), in each case, relating to property or other assets that constitute Collateral. 

“Change of Control” means: 
 (1) any “person” or “group” of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the Beneficial Owner, directly or indirectly,
of more than 50% of the total voting power of the Voting Stock of the Issuer (or its successor by merger, consolidation or purchase of all or substantially all of its assets); 

(2) the first day on which a majority of the members of the Board of Directors of the Issuer are not Continuing
Directors; 
 (3) the sale, lease, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Issuer and its Restricted Subsidiaries taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of
the Exchange Act); or 
 (4) the adoption by the shareholders of the Issuer of a plan or proposal for the
liquidation or dissolution of the Issuer. 
 “Change of Control Offer” shall have the meaning provided in
Section 4.12. 

  
 9 

 “Change of Control Payment” shall have the meaning provided in
Section 4.12. 
 “Change of Control Payment Date” shall have the meaning provided in
Section 4.12. 
 “Clearstream” means Clearstream Banking, Société Anonyme.

 “Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means each item of “Collateral” as defined in the Security Documents. 

“Collateral Agent” means the Trustee or a party selected by the Trustee, acting as the collateral agent for the Holders
of the Notes and the Trustee under the Security Documents. 
 “Collateral Proceeds Account” means a deposit
account at the Collateral Agent that is subject to a customary control agreement and is pledged as Collateral to secure the Note Obligations pursuant to a Note Lien. 
 “Commodity Agreements” means, in respect of any Person, any forward contract, commodity swap agreement, commodity option agreement or other similar agreement or arrangement in respect of
Hydrocarbons used, produced, processed or sold by such Person that is customary in the Oil and Gas Business and designed to protect such Person against fluctuation in Hydrocarbon prices. 

“Common Stock” means with respect to any Person, any and all shares, interests or other participations in, and other
equivalents (however designated and whether voting or nonvoting) of such Person’s common stock, whether or not outstanding on the Issue Date, and includes, without limitation, all series and classes of such common stock. 

“Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Issuer who:
(1) was a member of such Board of Directors on the date of this Indenture; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board
of Directors at the time of such nomination or election. 
 “Corporate Trust Office” means the office of the
Trustee at which at any particular time its corporate trust business shall be principally administered, which office at the date of execution of this Indenture is located at 5555 San Felipe Street, Suite 1150, Houston, TX, 77056, Attention:
Corporate Trust Administration, or at any other time at such other address as the Trustee may designate from time to time by notice to the Holders and the Issuer. 
 “Covenant Defeasance” shall have the meaning set forth in Section 8.1(b). 

  
 10 

 “Contributed Asset” means any asset or other property (other than cash)
that is contributed to the Issuer as a capital contribution or in respect of Equity Interests other than Disqualified Stock. 

“Contributed Asset Cash” means, with respect to any Contributed Asset, without duplication, the lesser of (x) the
sum of (1) to the extent such Contributed Asset has been converted into cash through an Asset Disposition (which, for the avoidance of doubt, shall not include the use, depletion, sale as inventory or amortization of such Contributed Asset but
shall include any Production Payment and Reserve Sale transaction with respect to such Contributed Asset), the Net Available Cash from such Contributed Asset, plus (2) the aggregate amount of Contributed Asset EBITDA generated by such
Contributed Asset since the date such Contributed Asset was acquired and (y) the Fair Market Value of the Contributed Asset at the time such Contributed Asset was acquired. 

“Contributed Asset EBITDA” of a Contributed Asset, for any period, means, calculated without duplication in respect of
any of the items listed below, the operating income or loss (calculated in accordance with GAAP) for such period generated by such Contributed Asset, plus, 
 (1) without duplication, and to the extent deducted (and not otherwise added back) in calculating such operating income or loss, the depletion, depreciation and amortization expense in respect of such
Contributed Asset for such period; less 
 (2) to the extent included in calculating such operating income or
loss and in excess of any costs or expenses attributable thereto that were deducted (and not added back) in calculating such operating income, the sum of (x) the amount of deferred revenues that are amortized during such period and are
attributable to reserves that are subject to Volumetric Production Payments and (y) amounts recorded in accordance with GAAP as repayments of principal and interest pursuant to Dollar-Denominated Volumetric Production Payments; less 

(3) to the extent included in calculating such operating income, any amounts not received by the Issuer in cash;

 in each case, calculated on a pro forma basis, giving effect to any Asset Disposition of any portion of such Contributed Asset. 

“Convertible Notes” means the 2013 Senior Convertible Notes and the 2015 Senior Convertible Notes, in each case,
outstanding on the Issue Date. 
 “Currency Agreement” means in respect of a Person any foreign exchange
contract, currency swap agreement, futures contract, option contract or other similar agreement as to which such Person is a party or a beneficiary. 
 “CVS Collateral” shall have the meaning given to such term in the 2017 Notes Indenture. 

  
 11 

 “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator
or similar official under any Bankruptcy Law. 
 “daily VWAP” means, for each of the 10 consecutive trading
days during the applicable observation period, the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “GMXR:US” (or its equivalent successor if such page is not available) in
respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such trading day (or if such volume-weighted average price is unavailable, the market value of one share of the
Issuer’s Common Stock on such trading day determined, using a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Issuer). The daily VWAP will be determined without
regard to after-hours trading or any other trading outside of the regular trading session trading hours. 

“Default” means any event that is, or after notice or passage of time or both would be, an Event of Default. 

“Default Interest Payment Date” shall have the meaning provided in Section 2.12. 

“Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with
Section 2.6(c) hereof, substantially in the form of Exhibit A hereto, except that such Note shall not bear the Global Note Legend. 
 “Depository” or “DTC” means The Depository Trust Company, its nominees and successors. 
 “Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person that by its terms (or by the terms of any security into which it is convertible or for which it is
exchangeable) at the option of the Holder of the Capital Stock or upon the happening of any event: 
 (1) matures
or is mandatorily redeemable (other than redeemable only for Capital Stock of such Person that is not itself Disqualified Stock) pursuant to a sinking fund obligation or otherwise; 

(2) is convertible or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock that is convertible or
exchangeable solely at the option of the Issuer or a Restricted Subsidiary); or 
 (3) is redeemable at the
option of the Holder of the Capital Stock in whole or in part, 
 in each case on or prior to the date that is 91 days after the earlier of the
date (a) of the Stated Maturity of the Notes or (b) on which there are no Notes outstanding; provided that only the portion of Capital Stock that so matures or is mandatorily redeemable, is so convertible or exchangeable or is so
redeemable at the option of the Holder thereof prior 

  
 12 

 
to such date will be deemed to be Disqualified Stock; provided, further, that any Capital Stock that would constitute Disqualified Stock solely because the Holders thereof have the right
to require the Issuer to repurchase such Capital Stock upon the occurrence of a change of control or asset sale (each defined in a substantially identical manner to the corresponding definitions in this Indenture) shall not constitute Disqualified
Stock if the terms of such Capital Stock (and all such securities into which it is convertible or for which it is ratable or exchangeable) provide that (i) the Issuer may not repurchase or redeem any such Capital Stock (and all such securities
into which it is convertible or for which it is ratable or exchangeable) pursuant to such provision prior to compliance by the Issuer with Section 4.12 and Section 4.13 and (ii) such repurchase or redemption will be
permitted solely to the extent also permitted in accordance with Section 4.10. 
 The amount of any Disqualified
Stock that does not have a fixed redemption, repayment or repurchase price will be calculated in accordance with the terms of such Disqualified Stock as if such Disqualified Stock were redeemed, repaid or repurchased on any date on which the amount
of such Disqualified Stock is to be determined pursuant to this Indenture; provided, however, that if such Disqualified Stock could not be required to be redeemed, repaid or repurchased at the time of such determination, the
redemption, repayment or repurchase price will be the book value of such Disqualified Stock as reflected in the most recent financial statements of such Person. 
 “Dollar-Denominated Volumetric Production Payments” means production payment obligations recorded as liabilities in accordance with GAAP, together with all undertakings and obligations in
connection therewith. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to
acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

“Euroclear” means Euroclear S.A./N.V., as operator of the Euroclear system. 

“Event of Default” shall have the meaning provided in Section 6.1. 

“Excess Proceeds” means amounts deemed to be “Excess Proceeds” and applied as set forth in
Section 4.13. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the SEC promulgated thereunder. 
 “Excluded VPP” means the Production Payment and
Reserve Sale pursuant to the Purchase and Sale Agreement, dated as of December 8, 2011, between the Issuer and EDF Trading North America, LLC. Any proceeds from such transaction (or, to the extent otherwise previously used prior to the Issue
Date, an equal amount of proceeds from the issuance of the Notes) shall be reinvested as set forth in Section 4.13(k). 

  
 13 

 “Existing Properties” means existing Oil and Gas Properties of the Issuer
and the Restricted Subsidiaries as of the Issue Date or other Oil and Gas Properties relating thereto, complementary thereto or adjacent thereto acquired by the Issuer or the Restricted Subsidiaries after the Issue Date. 

“Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a
transaction not involving distress or necessity of either party, determined in good faith by the Board of Directors of the Issuer pursuant to a resolution, and if such Fair Market Value is $20.0 million or greater, based on an opinion or appraisal
issued by an accounting, valuation, appraisal or investment banking firm of national standing. A certified copy of any resolution in which a determination of Fair Market Value is made shall be delivered by the Issuer in writing to the Trustee,
together with a copy of any opinion or appraisal on which such determination is based. Notwithstanding the foregoing, (i) the Fair Market Value of any cash Restricted Payment shall be its face amount and (ii) the Fair Market Value may be
determined by the Board of Directors of the Issuer acting in good faith alone, where so expressly stated in this Indenture. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time.
All ratios and computations based on GAAP contained in this Indenture will be computed in conformity with GAAP. 

“Global Note” shall have the meaning provided in Section 2.1. 

“Global Note Legend” means the legend set forth in Section 2.15(a)(ii) hereof, which is required to be
placed on all Global Notes issued under this Indenture. 
 “Guarantee” means any obligation, contingent or
otherwise, of any Person directly or indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 

(1) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person
(whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise); or 

(2) entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or
to protect such obligee against loss in respect thereof (in whole or in part). 
 “Haynesville Collateral”
shall have the meaning given to such term in the 2017 Notes Indenture. 
 “Holder” means a Person in whose name
a Note is registered on the registrar’s books. 

  
 14 

 “Hydrocarbons” means oil, natural gas, casing head gas, drip gasoline,
natural gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all constituents, elements or compounds thereof and products refined or processed therefrom. 

“Incur” means issue, create, assume, guarantee, incur or otherwise become directly or indirectly liable for,
contingently or otherwise; provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) will be deemed to
be Incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary; and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing. 

“Indebtedness” means, with respect to any Person on any date of determination (without duplication, whether or not
contingent): 
 (1) the principal of and premium (if any) in respect of Indebtedness of such Person for borrowed
money; 
 (2) the principal of and premium (if any) in respect of Obligations of such Person evidenced by bonds,
debentures, notes or other similar instruments; 
 (3) the principal component of all Obligations of such Person
in respect of letters of credit, bankers’ acceptances or other similar instruments (including reimbursement obligations with respect thereto except to the extent such reimbursement obligation relates to a trade payable, to the extent such
letters of credit are not drawn upon or, if and to the extent drawn upon, such obligation is satisfied within 30 days of payment on the letter of credit); 
 (4) the principal component of all Obligations of such Person (other than obligations payable solely in Capital Stock that is not Disqualified Stock) to pay the deferred and unpaid purchase price of
property (except accrued expenses and trade payables and other accrued liabilities arising in the ordinary course of business that are not overdue by 90 days or more or are being contested in good faith by appropriate proceedings promptly instituted
and diligently conducted), which purchase price is due more than six months after the date of placing such property in service or taking delivery and title thereto to the extent such obligations would appear as liabilities upon the consolidated
balance sheet of such Person in accordance with GAAP; 
 (5) Capitalized Lease Obligations of such Person to the
extent such Capitalized Lease Obligations would appear as liabilities on the consolidated balance sheet of such Person in accordance with GAAP; 
 (6) the principal component or liquidation preference of all Obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any
Restricted Subsidiary, any Preferred Stock (but excluding, in each case, any accrued dividends); 

  
 15 

 (7) the principal component of all Indebtedness of other Persons secured by
a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person; provided, however, that the amount of such Indebtedness will be the lesser of (a) the Fair Market Value of such asset at such date of
determination (as determined in good faith by the Board of Directors of the Issuer) and (b) the amount of such Indebtedness of such other Persons; 
 (8) the principal component of Indebtedness of other Persons to the extent guaranteed by such Person; and 
 (9) to the extent not otherwise included in this definition, net Obligations of such Person under Commodity Agreements, Currency Agreements and Interest Rate Agreements (the amount of any such Obligations
to be equal at any time to the termination value of such agreement or arrangement giving rise to such Obligation that would be payable by such Person at such time); 
 provided, however, that any Indebtedness that has been defeased in accordance with GAAP or defeased pursuant to the deposit of cash or Cash Equivalents (in an amount sufficient to satisfy all such
Obligations at maturity or redemption, as applicable, and all payments of interest and premium, if any) in a trust or account created or pledged for the sole benefit of the Holders of such Indebtedness, and subject to no other Liens, shall not
constitute “Indebtedness.” 
 The amount of Indebtedness of any Person at any date will be the outstanding balance at
such date of all unconditional Obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the Obligation, of any contingent Obligations at such date. 

Notwithstanding the preceding, “Indebtedness” shall not include: 

(1) Production Payments and Reserve Sales; 

(2) any obligation of a Person in respect of a farm-in agreement or similar arrangement whereby such Person agrees to pay
all or a share of the drilling, completion or other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation
interest therein or in accordance with the agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an Oil and Gas Property, in each case not relating to or arising from
borrowed money; 
 (3) any Obligation arising from agreements of the Issuer or a Restricted Subsidiary providing
for indemnification, guarantees, adjustment of purchase price, holdbacks, contingency payment obligations or similar obligations 

  
 16 

 
(other than guarantees of Indebtedness), in each case, Incurred or assumed in connection with the acquisition or disposition of any business, assets or Capital Stock of a Restricted Subsidiary,
provided that such Indebtedness is not reflected on the face of the balance sheet of the Issuer or any Restricted Subsidiary; 
 (4) any Obligation arising from the honoring by a bank or other financial institution of a check, draft or similar instrument (except in the case of daylight overdrafts) drawn against insufficient funds
in the ordinary course of business, provided, however, that such Indebtedness is extinguished within five business days of Incurrence; 
 (5) in-kind Obligations relating to net oil or natural gas balancing positions arising in the ordinary course of business; and 

(6) all contracts and other Obligations, agreements, instruments or arrangements described in clauses (22), (23),
(27)(a) and (29) of the definition of “Permitted Liens.” 
 In addition, “Indebtedness” of any
Person shall include Indebtedness described in the first paragraph of this definition of “Indebtedness” that would not appear as a liability on the balance sheet of such Person if: 

(1) such Indebtedness is the Obligation of a partnership or joint venture that is not a Restricted Subsidiary (a
“Joint Venture”); 
 (2) such Person or a Restricted Subsidiary of such Person is a general
partner of the Joint Venture or otherwise liable for all or a portion of the Joint Venture’s liabilities (a “General Partner”); and 
 (3) there is recourse, by contract or operation of law, with respect to the payment of such Indebtedness to property or assets of such Person or a Restricted Subsidiary of such Person; and then such
Indebtedness shall be included in an amount not to exceed: 
 (a) the lesser of (i) the net assets of the
General Partner and (ii) the amount of such Obligations to the extent that there is recourse, by contract or operation of law, to the property or assets of such Person or a Restricted Subsidiary of such Person; or 

(b) if less than the amount determined pursuant to clause (a) immediately above, the actual amount of such
Indebtedness that is recourse to such Person or a Restricted Subsidiary of such Person, if the Indebtedness is evidenced by a writing and is for a determinable amount. 
 “Indenture” means this Indenture, as amended or supplemented from time to time in accordance with the terms hereof. 

  
 17 

 “Indirect Participant” means a Person who holds a beneficial interest in a
Global Note through a Participant. 
 “Initial Asset Disposition Proceeds” shall have the meaning as provided
in Section 4.13(d)(2). 
 “Initial Asset Proceeds Repurchase” shall have the meaning as provided in
Section 4.13(b)(2)(ii). 
 “Initial Bakken Proceeds” shall have the meaning as provided in
Section 4.13(c)(2). 
 “Initial Niobrara Collateral” shall have the meaning given to such term in
the 2017 Notes Indenture. 
 “Intercreditor Agreement” means the intercreditor agreement executed on the Issue
Date, by and among the Issuer, the Collateral Agent and the 2017 Notes Collateral Agent. 
 “interest” when
used with respect to any Note means the amount of all interest accruing on such Note, including any applicable defaulted interest pursuant to Section 2.12. 
 “Interest Payment Date” means the stated maturity of an installment of interest on the Notes. 
 “Interest Rate Agreement” means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap
agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a beneficiary. 

“Investment” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates)
in the form of any direct or indirect advance, loan or other extensions of credit (including by way of Guarantee or similar arrangement, but excluding any debt or extension of credit represented by a bank deposit other than a time deposit and
advances or extensions of credit to customers in the ordinary course of business) or capital contribution to (by means of any transfer of cash or other property to others or any payment for property or services for the account or use of others), or
any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments (excluding any interest in a crude oil or natural gas leasehold to the extent constituting a security under applicable law) issued by, such other Person and all
other items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP; provided that none of the following will be deemed to be an Investment: 

  
 18 

 (1) Permitted Commodity Hedging Obligations and Permitted Other Hedging
Obligations entered into in the ordinary course of business and in compliance with this Indenture; 
 (2)
endorsements of negotiable instruments and documents in the ordinary course of business; and 
 (3) an
acquisition of assets, Capital Stock or other securities by the Issuer or a Subsidiary for consideration to the extent such consideration consists of Common Stock of the Issuer. 

The amount of any Investment shall not be adjusted for increases or decreases in value, write-ups, write-downs or write-offs with respect
to such Investment. 
 For purposes of the definition of “Unrestricted Subsidiary” and Section 4.10,

 (1) “Investment” will include the portion (proportionate to the Issuer’s equity interest in a
Restricted Subsidiary to be designated as an Unrestricted Subsidiary) of the Fair Market Value of the net assets of such Restricted Subsidiary at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary; provided,
however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer will be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (a) the
Issuer’s “Investment” in such Subsidiary at the time of such redesignation less (b) the portion (proportionate to the Issuer’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of such Subsidiary
(as conclusively determined by the Board of Directors of the Issuer in good faith) at the time that such Subsidiary is so redesignated a Restricted Subsidiary; and 

(2) any property transferred to or from an Unrestricted Subsidiary will be valued at its Fair Market Value at the time of
such transfer, in each case as determined in good faith by the Board of Directors of the Issuer. 
 “Issue
Date” means the first date on which the Notes are issued under this Indenture. 
 “Issuer” shall have
the meaning assigned to such term in the introductory paragraph of this Indenture. 
 “Issuer’s Common
Stock” shall have the meaning as provided in Section 2.12. 
 “Legal Defeasance” shall
have the meaning as provided in Section 8.1. 
 “Legal Holiday” shall have the meaning as provided
in Section 12.7. 

  
 19 

 “Lien” means, with respect to any asset, any mortgage, lien (statutory or
otherwise), pledge, hypothecation, charge, security interest, preference, priority or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or
other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent
statutes) of any jurisdiction; provided that in no event shall an operating lease be deemed to constitute a Lien. 

“market disruption event” means (i) a failure by the primary U.S. national or regional securities exchange or
market on which the Issuer’s Common Stock is listed or admitted for trading to open for trading during its regular trading session or (ii) the occurrence or existence prior to 1:00 p.m., New York City time, on any scheduled trading day for
the Issuer’s Common Stock for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock
exchange or otherwise) in the Issuer’s Common Stock or in any options, contracts or future contracts relating to the Issuer’s Common Stock. 
 “Maturity Date” means March 2, 2018. 
 “Minority
Interest” means the percentage interest represented by any shares of any class of Capital Stock of a Restricted Subsidiary that are not owned by the Issuer or a Restricted Subsidiary. 

“Moody’s” means Moody’s Investors Service, Inc. and its successors. 

“Mortgaged Property” means any Property owned by the Issuer that is subject to the Note Liens. 

“Mortgages” means all mortgages, deeds of trust and similar documents, instruments and agreements (and all amendments,
modifications and supplements thereof) creating, evidencing, perfecting or otherwise establishing the Note Liens on Mortgaged Property to secure the Note Obligations. 
 “Net Available Cash” from an Asset Disposition or a Casualty or Condemnation Event means cash payments received (including any insurance or other similar cash payments in respect of a
Casualty or Condemnation Event and any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and net proceeds from the sale or other disposition of any securities received as
consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other Obligations relating to the properties or assets that are the subject of such
Asset Disposition or received in any other non-cash form) therefrom, in each case net of: 

  
 20 

 (1) all legal, accounting, investment banking, title and recording tax
expenses, commissions and other fees and expenses Incurred, and all federal, state, provincial, foreign and local taxes required to be paid or accrued as a liability under GAAP (after taking into account any available tax credits or deductions and
any tax sharing agreements), as a consequence of such Asset Disposition or Casualty or Condemnation Event; 

(2) all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition or Casualty or
Condemnation Event, in accordance with the terms of any Lien upon such assets, or which must by its terms, or in order to obtain a necessary consent to such Asset Disposition, or by applicable law be repaid out of the proceeds from such Asset
Disposition or Casualty or Condemnation Event; 
 (3) all distributions and other payments required to be made
to minority interest Holders in Subsidiaries or joint ventures or to Holders of royalty or similar interests as a result of such Asset Disposition or Casualty or Condemnation Event; and 

(4) the deduction of appropriate amounts to be provided by the seller as a reserve, in accordance with GAAP, against any
liabilities associated with the assets disposed of in such Asset Disposition or subject to such Casualty or Condemnation Event and retained by the Issuer or any Restricted Subsidiary after such Asset Disposition or Casualty or Condemnation Event;

 provided that, (i) to the extent that any assets that are subject to Permitted Commodity Hedging Obligations are subject to an
Asset Disposition or Casualty or Condemnation Event, any cash proceeds from the transfer or unwinding of such Permitted Commodity Hedging Obligations shall be included in Net Available Cash, and any payments or deductions from the cash proceeds of
such Asset Disposition or Casualty or Condemnation Event in respect of the transfer or unwinding of such Permitted Commodity Hedging Obligations shall be deemed to reduce such Net Available Cash; and (ii) to the extent that any assets are
Invested in a Person that is not the Issuer or a Restricted Subsidiary and cash is returned to the Issuer or a Restricted Subsidiary in respect of such Investment, such cash shall be applied as Net Available Cash from an Asset Disposition of such
assets Invested. 
 “Net Cash Proceeds,” with respect to any issuance or sale of Capital Stock or any
contribution to equity capital, means the cash proceeds of such issuance, sale or contribution net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, listing fees, discounts or commissions and
brokerage, consultant and other fees and charges actually Incurred in connection with such issuance, sale or contribution and net of taxes paid or payable as a result of such issuance or sale (after taking into account any available tax credit or
deductions and any tax sharing arrangements). 

  
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 “Net Working Capital” means (a) all current assets of the Issuer and
its Restricted Subsidiaries except current assets from commodity price risk management activities arising in the ordinary course of the Oil and Gas Business, less (b) all current liabilities of the Issuer and its Restricted Subsidiaries, except
current liabilities included in Indebtedness and any current liabilities from commodity price risk management activities arising in the ordinary course of the Oil and Gas Business, in each case as set forth in the consolidated financial statements
of the Issuer prepared in accordance with GAAP. 
 “Niobrara Collateral” shall have the meaning given to such
term in the 2017 Notes Indenture. 
 “Non-Recourse Debt” means Indebtedness of a Person: 

(1) as to which neither the Issuer nor any Restricted Subsidiary (a) provides any Guarantee or credit support of any
kind (including any undertaking, Guarantee, indemnity, agreement or instrument that would constitute Indebtedness) or (b) is directly or indirectly liable (as a guarantor or otherwise); 

(2) no default with respect to which (including any rights that the Holders thereof may have to take enforcement action
against an Unrestricted Subsidiary) would permit (upon notice, lapse of time or both) any Holder of any other Indebtedness of the Issuer or any Restricted Subsidiary to declare a default under such other Indebtedness or cause the payment thereof to
be accelerated or payable prior to its Stated Maturity; and 
 (3) the explicit terms of which provide there is
no recourse against any of the assets of the Issuer or its Restricted Subsidiaries. 
 “Notes” shall have the
meaning provided in the preamble to this Indenture. 
 “Note Documents” means this Indenture, the Notes, the
Intercreditor Agreement, the Security Documents, any intercreditor provisions entered into in connection with a Permitted Letter of Credit Facility, a Permitted Commodity Hedging Obligation or a Permitted Other Hedging Obligations and each of the
other agreements, documents and instruments executed pursuant thereto, and delivered to the Trustee by or on behalf of the Issuer, to the extent such are effective at the relevant time, as each may be amended, restated, supplemented, modified from
time to time in accordance with the provisions of this Indenture and the Intercreditor Agreement. 
 “Note
Liens” means all Liens in favor of the Collateral Agent on Collateral securing the Note Obligations. 
 “Note
Obligations” means the Obligations of the Issuer and any other obligor under this Indenture or any of the other Note Documents, to pay principal and interest (including any interest accruing after the commencement of bankruptcy or
insolvency proceedings) when due and payable, and all other amounts due or to become due under or in connection with this Indenture, the Notes and the performance of all other Obligations to the Trustee and the Holders under this Indenture and the
Notes, according to the respective terms thereof. 

  
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 “Obligations” means any principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 

“observation period” means the 10 consecutive trading day period ending on, and including, the trading day immediately
preceding the relevant Interest Payment Date. 
 “Offering Circular” means the Offering Memorandum dated
August 9, 2012, as thereafter supplemented and amended, relating to the issuance and sale of the Notes. 

“Officer” means the Chairman of the Board, the Chief Executive Officer, the President, the Chief Financial Officer, any
Vice President, the Treasurer or the Secretary of the Issuer. 
 “Officer’s Certificate” means a
certificate signed by an Officer of the Issuer. 
 “Oil and Gas Business” means: (1) the business of
acquiring, exploring, exploiting, developing, producing, operating and disposing of interests in oil, natural gas, liquid natural gas and other hydrocarbon and mineral properties or products produced in association with any of the foregoing;
(2) the business of gathering, marketing, distributing, treating, processing, storing, refining, selling and transporting of any production from such interests or properties and products produced in association therewith and the marketing of
oil, natural gas, other hydrocarbons and minerals obtained from unrelated Persons; and (3) any business or activity relating to, arising from, or necessary, appropriate or incidental to the activities described in the foregoing clauses
(1) through (2) of this definition. 
 “Oil and Gas Properties” means any and all rights, titles,
interests and estates 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, together with all fixtures and improvements pertaining thereto. 
 “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuer or the Trustee. 

“OID Legend” shall have the meaning as set forth in Section 2.15(a)(iv). 

“Participant” means, with respect to the Depository, Euroclear or Clearstream, a Person who has an account with the
Depository, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 

“Paying Agent” shall have the meaning provided in Section 2.3. 

  
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 “Permitted Additional Pari Passu Obligations” means all Obligations of the
Issuer or any of the Restricted Subsidiaries with respect to any Indebtedness that has been Incurred in accordance with this Indenture that are pari passu with the Note Obligations in right of payment and secured by Liens on the Collateral
ranking equal in priority to the Note Liens. 
 “Permitted Asset Swap” means an Asset Swap, (i) of a
producing Oil and Gas Property (or set of properties) for another producing Oil and Gas Property (or set of properties) with a PV-10 Value that is greater than or equal to the PV-10 Value of the property being transferred, (ii) of a
non-producing Oil and Gas Property (or set of properties) for any other Oil and Gas Property (or set of properties), or (iii) of a producing Oil and Gas Property (or set of properties containing producing Oil and Gas Properties) for a
non-producing Oil and Gas Property (or set of properties containing non-producing Oil and Gas Properties) in the same Basin as the property or properties being transferred. Any assets acquired in a Permitted Asset Swap shall be owned by the Issuer
or a Restricted Subsidiary as required by the Security Documents. 
 “Permitted Bakken Joint Venture” means a
joint venture among the Issuer or a Restricted Subsidiary and one or more unaffiliated third parties in respect of the Bakken Collateral, which joint venture is more than 51% owned by the Issuer or the Restricted Subsidiaries and controlled by the
Issuer or the Restricted Subsidiaries. 
 “Permitted Business Activities” means clauses (1) and
(2) of the definition of “Oil and Gas Business.” 
 “Permitted Business Investment” means any
Investment (other than an Investment in an Unrestricted Subsidiary) made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business including investments or expenditures for actively exploiting,
exploring for, acquiring, developing, producing, processing, gathering, marketing, storing, treating or transporting oil, natural gas or other hydrocarbons and minerals through agreements, transactions, interests or arrangements which permit one to
share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties, including: 

(1) ownership interests in oil, natural gas, other hydrocarbons and minerals properties, liquid natural gas facilities,
processing facilities, gathering systems, pipelines, storage facilities or related systems or ancillary real property interests; 
 (2) Investments in the form of or pursuant to operating agreements, working interests, royalty interests, mineral leases, processing agreements, farm-in agreements, farm-out agreements, contracts for the
sale, transportation or exchange of oil, natural gas, other hydrocarbons and minerals, production sharing agreements, participation agreements, development agreements, area of mutual interest agreements, unitization agreements, pooling agreements,
joint bidding agreements, service contracts, joint venture agreements, 

  
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partnership agreements (whether general or limited), subscription agreements, stock purchase agreements, shareholder agreements and other similar agreements (including for limited liability
companies) with third parties (including Unrestricted Subsidiaries); and 
 (3) direct or indirect ownership
interests in drilling rigs and related equipment, including, without limitation, transportation equipment. 
 “Permitted
Commodity Hedging Obligations” means Obligations of the Issuer or any Restricted Subsidiary with respect to non-speculative transactions in futures, forwards, swaps or option contracts (including both physical and financial settlement
transactions), entered into by the Issuer or any Restricted Subsidiary as part of its normal business operations with the purpose and effect of hedging prices as a risk management strategy or hedge against adverse changes in the prices of natural
gas or oil (including without limitation commodity price hedges, swaps, caps, floors, collars and similar agreements designed to protect the Issuer or any such Restricted Subsidiary against fluctuations in commodity prices or any option with respect
to any such transaction) and not intended primarily as a borrowing of funds, provided that such transactions, at the time of such transaction, giving effect to any other Commodity Agreements then in effect together with such transaction,
(i) with respect to projected production of natural gas from undeveloped Oil and Gas Properties by the Issuer and the Restricted Subsidiaries, shall not apply to more than 75% of such projected production of natural gas, (ii) with respect
to projected production of oil from undeveloped Oil and Gas Properties by the Issuer and the Restricted Subsidiaries, shall not apply to more than 75% of such projected production of oil, (iii) with respect to projected production of natural
gas from existing developed producing Oil and Gas Properties by the Issuer and the Restricted Subsidiaries, shall not apply to more than 100% of such projected production of natural gas and (iv) with respect to projected production of oil from
existing developed producing Oil and Gas Properties by the Issuer and the Restricted Subsidiaries, shall not apply to more than 100% of such projected production of oil. Permitted Commodity Hedging Obligations secured by a Lien on all or part of the
Collateral must be secured by Liens under the Security Documents or by Liens securing the Senior Obligations, and the secured parties in respect of such Permitted Commodity Hedging Obligations must agree pursuant to applicable intercreditor
arrangements or provisions in accordance with clause (7) of the definition of “Permitted Liens” that the Collateral Agent shall control all rights and remedies in respect of such Lien pursuant to the provisions of the Security
Documents. 
 “Permitted Investment” means an Investment by the Issuer or any Restricted Subsidiary in:

 (1) the Issuer, or any Restricted Subsidiary or a Person which will, upon the making of such Investment,
become a Restricted Subsidiary; provided, however, that the primary business of such Restricted Subsidiary is the Oil and Gas Business; 

  
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 (2) another Person whose primary business is the Oil and Gas Business if as
a result of such Investment such other Person becomes a Restricted Subsidiary or is merged or consolidated with or into, or transfers or conveys all or substantially all its assets to, the Issuer or a Restricted Subsidiary and, in each case, any
Investment held by such Person; provided, that such Investment was not acquired by such Person in contemplation of such acquisition, merger, consolidation or transfer; 

(3) cash and Cash Equivalents; 
 (4) receivables owing to the Issuer or any Restricted Subsidiary created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;
provided, however, that such trade terms may include such concessionary trade terms as the Issuer or any such Restricted Subsidiary deems reasonable under the circumstances; 

(5) payroll, commission, travel, relocation and similar advances to cover matters that are expected at the time of such
advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business; 
 (6) loans or advances to employees made in the ordinary course of business consistent with past practices of the Issuer or such Restricted Subsidiary not to exceed $2.5 million in the aggregate at any one
time outstanding; 
 (7) Capital Stock, obligations or securities received in settlement of debts created in the
ordinary course of business and owing to the Issuer or any Restricted Subsidiary or in satisfaction of judgments; 
 (8) Investments made as a result of the receipt of non-cash consideration from an Asset Disposition that was made pursuant to and in compliance with this Indenture, including, without limitation,
Section 4.13; provided that such securities or other assets received in an Asset Disposition or an exchange or swap of assets shall be pledged as Collateral under the Security Documents to the extent the assets subject to such
Asset Disposition or exchange or swap of assets constituted Collateral, with the Note Liens on such Collateral being of the same relative priority as the Note Liens on the assets disposed of; 

(9) Investments in existence on the Issue Date; 

(10) Commodity Agreements, Currency Agreements, Interest Rate Agreements and related Permitted Commodity Hedging
Obligations and Permitted Other Hedging Obligations, which transactions or obligations are Incurred in compliance with this Indenture; 
 (11) Guarantees issued by the Issuer or any of its Restricted Subsidiaries; 

  
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 (12) any Permitted Asset Swap or acquisition of Additional Assets made in
accordance with this Indenture, including, without limitation, Section 4.13 other than a transaction involving an Unrestricted Subsidiary; provided that such Additional Assets or securities or other assets received in an Asset
Disposition or Permitted Asset Swap shall be pledged as Collateral under the Security Documents to the extent the assets subject to such Asset Disposition or Permitted Asset Swap constituted Collateral, with the Note Liens on such Collateral being
of the same relative priority as the Note Liens on the assets disposed of; 
 (13) Permitted Business
Investments in any Person other than the Issuer or a Restricted Subsidiary in an aggregate amount that, when taken together with other Permitted Business Investments then outstanding, do not exceed, at the time such Investment is made,
(x) 10.0% of Adjusted Consolidated Net Tangible Assets for Investments made during the first three years after the Issue Date and (y) 15.0% of Adjusted Consolidated Net Tangible Assets for Investments made after the third anniversary of
the Issue Date; provided, that: (A) (i) CVS Collateral, (ii) Niobrara Collateral (prior to the date the Initial Niobrara Proceeds have been received and applied in full) and (iii) producing Oil and Gas Properties of the
Issuer or a Restricted Subsidiary will not be permitted to be used for “Permitted Business Investments”; (B) Permitted Business Investments in any Person other than the Issuer or a Restricted Subsidiary must be made only in the United
States or Canada; (C) any Permitted Business Investment in any Person other than the Issuer or a Restricted Subsidiary must be made at Fair Market Value; and (D) any Asset Disposition by any entity in which a Permitted Business Investment
has been made (each, a “PBI Entity”) will be treated as an Asset Disposition by a Restricted Subsidiary (including the provisions applicable to the various categories of assets being disposed of), with the amount of Net Available
Cash required to be applied under Section 4.13 being equal to (x) the percentage of the economic benefit in the PBI Entity to which the Issuer and the Restricted Subsidiaries are entitled times (y) the amount of Net Cash
Proceeds received by the PBI Entity; 
 (14) any Person where such Investment was acquired by the Issuer or any
of its Restricted Subsidiaries (a) in exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization
of the issuer of such other Investment or accounts receivable or (b) as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured
Investment in default; 
 (15) any Person to the extent such Investments consist of prepaid expenses, negotiable
instruments held for collection and lease, utility and workers’ compensation, performance and other similar deposits made in the ordinary course of business by the Issuer or any Restricted Subsidiary; 

  
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 (16) unsecured Guarantees of performance or other obligations (other than
Indebtedness) arising in the ordinary course in the Oil and Gas Business, including obligations under oil and natural gas exploration, development, joint operating, and related agreements and licenses or concessions related to the Oil and Gas
Business; 
 (17) acquisitions of assets, equity interests or other securities by the Issuer for consideration
consisting of common equity securities of the Issuer; 
 (18) Investments in the Notes; and 

(19) any Investment in Endeavor Gathering LLC made during any fiscal year of the Issuer or within 45 days after the end
of such fiscal year in amounts that, together with all other Investments made in Endeavor Gathering LLC in respect of such fiscal year in reliance on this clause (19) during such fiscal year or within 45 days after the end of such fiscal year,
do not exceed the amount of dividends or distributions previously paid in respect of such fiscal year to the Issuer or any Restricted Subsidiary by Endeavor Gathering LLC. 
 “Permitted Letter of Credit Facility” means, with respect to the Issuer or any Restricted Subsidiary, one or more debt facilities providing solely for the issuance of letters of credit
and the cash collateralization thereof, together with the related documents thereto (including any guarantees and collateral documents, instruments and agreements executed in connection therewith, whether in effect on the Issue Date or entered into
thereafter) in each case, as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to time (and whether or not with the original administrative agent or agent and lenders or another administrative agent
or agents or other lenders). 
 “Permitted Liens” means, with respect to any Person: 

(1) the 2017 Note Liens; 
 (2) Liens with respect to Indebtedness of the Issuer or the Restricted Subsidiaries represented by letters of credit Incurred pursuant to one or more Permitted Letter of Credit Facilities that
(i) consist of set-off rights and do not extend to any assets other than the cash held at the institution providing the letters of credit Incurred under such Indebtedness (which cash shall also be Collateral subject to Note Liens) or
(ii) are Liens on the Collateral that rank pari passu in priority with the Note Liens; 
 (3)
pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance laws, social security or old age pension laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than
for the payment of Indebtedness) or leases to which such Person is a party, or deposits (which may be secured by a Lien) to secure public or statutory obligations of such Person including letters of credit and bank guarantees required or requested
by the United States, any State thereof or any 

  
 28 

 
foreign government or any subdivision, department, agency, organization or instrumentality of any of the foregoing in connection with any contract or statute (including lessee or operator
obligations under statutes, governmental regulations, contracts or instruments related to the ownership, exploration and production of oil, natural gas, other Hydrocarbons and minerals on State, Federal or foreign lands or waters), or deposits of
cash or United States government bonds to secure indemnity performance, surety or appeal bonds or other similar bonds to which such Person is a party, or deposits as security for contested taxes or import or customs duties or for the payment of
rent, in each case Incurred in the ordinary course of business; 
 (4) statutory and contractual Liens of
landlords and Liens imposed by law, including carriers’, warehousemen’s, mechanics’, materialmen’s and repairmen’s Liens, in each case for sums not yet due or being contested in good faith by appropriate proceedings if a
reserve or other appropriate provisions, if any, as shall be required by GAAP shall have been made in respect thereof and, in the case of Collateral, such proceedings have the effect of preventing the forfeiture or sale of the property or assets
subject to such Lien; 
 (5) Liens for taxes, assessments or other governmental charges or claims not yet
subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings; provided that appropriate reserves, if any, required pursuant to GAAP have been made in respect thereof and, in the case of
Collateral, such proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to such Lien; 
 (6) Liens in favor of issuers of surety or performance bonds or letters of credit or bankers’ acceptances issued pursuant to the request of and for the account of such Person in the ordinary course
of its business; provided, however, that such letters of credit do not constitute Indebtedness; 

(7) survey exceptions, encumbrances, ground leases, easements or reservations of, or rights of others for, licenses,
rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning, building codes or other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to
the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties so long as any such survey exceptions, encumbrances, easements or reservations of, or rights of others for, licenses,
rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning, building codes or other restrictions do not in the aggregate materially adversely affect the value of the assets of such Person and its
Restricted Subsidiaries, taken as a whole, or materially impair their use in the operation of the business of such Person; 
 (8) Liens securing Permitted Commodity Hedging Obligations, which Liens, to the extent the counterparty under a Permitted Commodity 

  
 29 

 
Hedging Obligation reasonably requires, may be of higher priority than the Note Liens, in which case such Permitted Commodity Hedging Obligation shall become a secured obligation under the
Security Documents and the Collateral Agent and Trustee shall enter into intercreditor arrangements or provisions specifying the relative priority of (x) Liens securing Permitted Commodity Hedging Obligations pursuant to this clause
(8) and (y) the Note Liens; provided, however, that the Collateral Agent and the Trustee shall not be required to enter into any such intercreditor arrangements or provisions unless and until the Issuer shall have delivered
(x) an Officer’s Certificate to the Trustee certifying that (i) such intercreditor arrangements and or provisions are in respect of a “Permitted Commodity Hedging Obligation” in accordance with the definition thereof and
(ii) the Liens in respect of such Permitted Commodity Hedging Obligation are “Permitted Liens” in accordance with this clause (8); and (y) an Opinion of Counsel that all conditions precedent to be performed by the Issuer provided
for in this Indenture (including this clause (8)) for the Collateral Agent and the Trustee to enter into such intercreditor arrangements have been complied with (which counsel, as to factual matters, may rely on an Officer’s Certificate).

 (9) leases, licenses, subleases and sublicenses of assets (including, without limitation, real property and
intellectual property rights) which do not materially interfere with the ordinary conduct of the business of the Issuer and its Restricted Subsidiaries, taken as a whole; 

(10) prejudgment Liens and judgment Liens not giving rise to an Event of Default so long as such Lien is adequately
bonded and any appropriate legal proceedings which may have been duly initiated for the review of such judgment have not been finally terminated or the period within which such proceedings may be initiated has not expired; 

(11) Liens for securing Indebtedness represented by Capitalized Lease Obligations, mortgage financings or purchase money
obligations, in each case Incurred by the Issuer or any Restricted Subsidiary for the purpose of financing all or any part of the acquisition or purchase price or cost of construction or improvements or carrying costs of property used in the
business of the Issuer or such Restricted Subsidiary, and Refinancing Indebtedness Incurred to refinance any of the foregoing Indebtedness; provided that; 

(a) such Liens do not encumber any assets (and proceeds thereof) other than those acquired, purchased, constructed or
improved with the proceeds of such Indebtedness, or assets affixed or appurtenant thereto; and 
 (b) such Liens
are created within 180 days of the later of the acquisition, purchase or the completion of the construction or improvement of such assets; 

  
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 (12) Liens arising solely by virtue of any statutory or common law
provisions relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained or deposited with a depositary institution; provided that: 

(a) such deposit account is not a dedicated cash collateral account and is not subject to restrictions against access by
the Issuer in excess of those set forth by regulations promulgated by the Federal Reserve Board; and 
 (b) such
deposit account is not intended by the Issuer or any Restricted Subsidiary to provide collateral to the depository institution; 
 (13) Liens arising from Uniform Commercial Code financing statement filings regarding operating leases entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business;

 (14) Liens existing on the Issue Date; 

(15) Liens on property or shares of Capital Stock of a Person at the time such Person becomes a Subsidiary;
provided, however, that such Liens are not created, Incurred or assumed in connection with, or in contemplation of, such other Person becoming a Subsidiary; provided further, however, that any such Lien may not extend to any
other property owned by the Issuer or any Restricted Subsidiary (other than assets or property affixed or appurtenant thereto); 
 (16) Liens on property at the time the Issuer or any of its Subsidiaries acquired the property, including any acquisition by means of a merger or consolidation with or into the Issuer or any of its
Subsidiaries; provided, however, that such Liens are not created, Incurred or assumed in connection with, or in contemplation of, such acquisition; provided further, however, that such Liens may not extend to any other
property owned by the Issuer or any Restricted Subsidiary (other than assets or property affixed or appurtenant thereto); 
 (17) Liens securing Indebtedness or other Obligations of a Subsidiary owing to the Issuer or a Wholly Owned Subsidiary; 

(18) Note Liens securing the Notes (and related Note Obligations) Incurred pursuant to Indebtedness represented by
(i) the Notes issued on the Issue Date and (ii) any Refinancing Indebtedness Incurred with in respect of any Indebtedness described in this clause (18); 

(19) Liens securing other Indebtedness, which Liens shall rank expressly junior in priority to the Note Liens;
provided that such Indebtedness may not have any scheduled maturities (including, without limitation amortization payments) or put dates prior to 91 days after the Stated Maturity of the Notes; 

  
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 (20) any interest or title of a lessor under any operating lease;

 (21) Liens in respect of Production Payments and Reserve Sales, which Liens shall relate to the property that
is the subject of such Production Payments and Reserve Sales; 
 (22) Liens arising under farm-out agreements,
farm-in agreements, division orders, contracts for the sale, purchase, exchange, transportation, gathering or processing of Hydrocarbons, unitizations and pooling designations, declarations, orders and agreements, development agreements, joint
venture agreements, partnership agreements, operating agreements, royalties, working interests, net profits interests, joint interest billing arrangements, participation agreements, production sales contracts, area of mutual interest agreements, gas
balancing or deferred production agreements, injection, repressuring and recycling agreements, salt water or other disposal agreements, seismic or geophysical permits or agreements, and other agreements which are customary in the Oil and Gas
Business and are incurred in the ordinary course of business; 
 (23) Liens on pipelines or pipeline facilities
that arise by operation of law; 
 (24) deposits made in the ordinary course of business to secure liability to
insurance carriers; 
 (25) Liens in favor of customs and revenue authorities arising as a matter of law to
secure payment of customs duties in connection with the importation of goods in the ordinary course of business; 
 (26) Liens deemed to exist in connection with Investments in repurchase agreements; provided that such Liens do not extend to any assets other than those that are the subject of such repurchase
agreement and are incurred in the ordinary course of business and not for speculative purposes; 
 (27) any
(a) interest or title of a lessor under any lease, Liens reserved in oil, gas or other Hydrocarbons, minerals, leases for bonus, royalty or rental payments and for compliance with the terms of such leases; (b) restriction or encumbrance
that the interest or title of such lessor may be subject to (including, without limitation, ground leases or other prior leases of the demised premises, mortgages, mechanics’ liens, tax liens, and easements) or (c) subordination of the
interest of the lessee under such lease to any restrictions or encumbrance referred to in the preceding clause (b); 
 (28) Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of
business and not for speculative purposes; 

  
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 (29) Liens (other than Liens securing Indebtedness, sale-leaseback
arrangements or lease obligations) on, or related to, assets to secure all or part of the costs incurred in the ordinary course of the Oil and Gas Business for the exploration, drilling, development, production, processing, transportation,
marketing, storage abandonment or operation; 
 (30) Liens upon specific items of inventory or other goods and
proceeds of any Person securing such Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(31) Liens arising under this Indenture in favor of the Trustee or the Collateral Agent for its own benefit and similar
Liens in favor of other trustees, agents and representatives arising under instruments governing Indebtedness, provided, however, that such Liens are solely for the benefit of the trustees, agents or representatives in their capacities
as such and not for the benefit of the holders of such Indebtedness; 
 (32) Liens arising from the deposit of
funds or securities in trust for the purpose of decreasing or defeasing Indebtedness so long as such deposit of funds or securities and such decreasing or defeasing of Indebtedness are permitted under Section 4.10; 

(33) Liens in favor of collecting or payer banks having a right of setoff, revocation, or charge back with respect to
money or instruments of the Issuer or any Subsidiary of the Issuer on deposit with or in possession of such bank; and 
 (34) Liens securing Indebtedness of the Issuer or a Restricted Subsidiary incurred to refinance Indebtedness of the Issuer or a Restricted Subsidiary that was previously so secured; provided that
any such Lien is limited to all or part of the same property or assets (plus improvements, accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose,
could secure) the Indebtedness being refinanced or is in respect of property or assets that is the security for a Permitted Lien hereunder. 
 In each case set forth above, notwithstanding any stated limitation on the assets that may be subject to such Lien, a Permitted Lien on a specified asset or group or type of assets may include Liens on
all improvements, additions and accessions thereto and all products and proceeds thereof (including dividends, distributions and increases in respect thereof). 

  
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 “Permitted Other Hedging Obligations” means, with respect to any specified
Person, the obligations of such Person under (1) interest rate swap agreements (whether from fixed to floating or from floating to fixed), interest rate cap agreements and interest rate collar agreements; (2) other agreements or
arrangements designed to manage interest rates or interest rate risk; and (3) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange rates or commodity prices, in each case, other than
Permitted Commodity Hedging Obligations. 
 “Person” means any individual, corporation, partnership, joint
venture, association, joint-stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity. 

“Preferred Stock,” as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes
(however designated) that is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation, over shares of Capital Stock of any other class of such
corporation. 
 “principal” of any Indebtedness (including the Notes) means the principal amount of such
Indebtedness. 
 “pro forma” means, with respect to any calculation made or required to be made pursuant to the
terms of this Indenture, a calculation in accordance with Article 11 of Regulation S-X under the Securities Act, as determined by the Board of Directors of the Issuer in consultation with its independent public accountants. 

“Production Payments and Reserve Sales” means the grant or transfer by the Issuer or a Restricted Subsidiary to any
Person of a royalty, overriding royalty, net profits interest, production payment (whether volumetric or dollar denominated), partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the
production or the proceeds from the sale of production attributable to such properties where the Holder of such interest has recourse to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and
maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters
customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists or other providers of
technical services to the Issuer or a Restricted Subsidiary. 
 “Property” means, with respect to any Person,
any interests of such Person in any kind of property or asset, whether real, personal or mixed, or tangible or intangible, including, without limitation, Capital Stock, partnership interests and other equity or ownership interests in any other
Person. 
 “PV-10 Value” means, with respect to applicable Oil and Gas Properties of the Issuer and the
Restricted Subsidiaries constituting proved reserves, the present value of the estimated net cash flow to be realized from the production of Hydrocarbons from all such Oil and Gas Properties contained in the Reserve Reports discounted at 10 percent.

  
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 “Record Date” means the Record Dates specified in the Notes. 

“Redemption Date,” when used with respect to any Note to be redeemed, means the date fixed for such redemption pursuant
to this Indenture and the Notes. 
 “Redemption Price,” when used with respect to any Note to be redeemed,
means the price fixed for such redemption, including principal, pursuant to this Indenture and the Notes. 

“Refinancing Indebtedness” means Indebtedness that is Incurred to refund, refinance, replace, exchange, renew, repay,
extend, prepay, redeem or retire (including pursuant to any defeasance or discharge mechanism) (collectively, “refinance,” “refinances” and “refinanced” shall have correlative meanings) any
Indebtedness (including Indebtedness of the Issuer that refinances Indebtedness of any Restricted Subsidiary and Indebtedness of any Restricted Subsidiary that refinances Indebtedness of another Restricted Subsidiary, but excluding Indebtedness of a
Subsidiary that is not a Restricted Subsidiary that refinances Indebtedness of the Issuer or a Restricted Subsidiary), including Indebtedness that refinances Refinancing Indebtedness, provided, however, that: 

(1) (a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the Stated Maturity of the
Notes, the Refinancing Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the Indebtedness being refinanced or (b) if the Stated Maturity of the Indebtedness being refinanced is later than the Stated Maturity of the
Notes, the Refinancing Indebtedness has a Stated Maturity at least 91 days later than the Stated Maturity of the Notes; 
 (2) the Refinancing Indebtedness has an Average Life at the time such Refinancing Indebtedness is Incurred that is equal to or greater than the Average Life of the Indebtedness being refinanced;

 (3) such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued with original
issue discount, an aggregate issue price) that is equal to or less than the sum of the aggregate principal amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced (plus,
without duplication, any additional Indebtedness Incurred to pay interest, premiums or defeasance costs required by the instruments governing such existing Indebtedness and fees and expenses Incurred in connection therewith); and 

(4) if the Indebtedness being refinanced is subordinated in right of payment to the Notes, such Refinancing Indebtedness
is subordinated in right of payment to the Notes on terms at least as favorable to the Holders as those contained in the documentation governing the Indebtedness being refinanced. 

  
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 “Registrar” shall have the meaning provided in Section 2.3.

 “Remaining Asset Disposition Proceeds” shall have the meaning as set forth in
Section 4.13(d)(3). 
 “Remaining Bakken Proceeds” shall have the meaning in
Section 4.13(c)(3). 
 “Reserve Report” means a report setting forth, as of December 31st, the
oil and gas reserves attributable to the proved Oil and Gas Properties of the Issuer and the Restricted Subsidiaries, together with a projection of the rate of production and future net income, taxes, operating expenses and capital expenditures with
respect thereto as of such date. 
 “Restricted Investment” means any Investment other than a Permitted
Investment. 
 “Restricted Payment” shall have the meaning set forth in Section 4.10. 

“Restricted Subsidiary” means any Subsidiary of the Issuer other than an Unrestricted Subsidiary. 

“S&P” means Standard and Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 

“scheduled trading day” means a day that is scheduled to be a trading day on the principal U.S. national or regional
securities exchange or market on which the Issuer’s Common Stock is listed or admitted for trading. If the Issuer’s Common Stock is not so listed or admitted for trading, a “scheduled trading day” means a Business Day 

“SEC” means the United States Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Security Documents” means all security agreements, pledge agreements, collateral assignments,
mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by the Issuer creating (or purporting to create) a Lien upon Collateral in favor of the Collateral Agent, in
each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms. 
 “Senior Liens” means the 2017 Note Liens and the liens securing other Senior Obligations. 
 “Senior Obligations” means the 2017 Note Obligations, Permitted Commodity Hedging Obligations that are secured by a Permitted Lien ranking higher in priority to the Note Liens, and
obligations under any Permitted Letter of Credit Facility that are secured by a Permitted Lien ranking higher in priority to the Note Liens. 

  
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 “Significant Subsidiary” means any Restricted Subsidiary that would be a
“Significant Subsidiary” of the Issuer within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC, as in effect on the Issue Date. 
 “Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the payment of principal of such security is due and payable,
including pursuant to any mandatory redemption provision, but shall not include any contingent obligations to repay, redeem or repurchase any such principal prior to the date originally scheduled for the payment thereof. 

“Subordinated Obligation” means any Obligation of the Issuer (whether outstanding on the Issue Date or thereafter
Incurred) that is contractually subordinated in right of payment (by its terms or the terms of any document or instrument relating thereto), to the Notes. 
 “Subsidiary” of any Person means (a) any corporation, association or other business entity (other than a partnership, joint venture, limited liability company or similar entity) of
which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof (or Persons performing similar
functions) or (b) any partnership, joint venture, limited liability company or similar entity of which more than 50% of the capital accounts, distribution rights, total equity and voting interests or general or limited partnership interests, as
applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or indirectly, by (1) such Person, (2) such Person and one or more Subsidiaries of such Person or (3) one or more Subsidiaries of such
Person. Unless otherwise specified herein, each reference to a Subsidiary (other than in this definition) shall refer to a Subsidiary of the Issuer. 
 “Successor Issuer” shall have the meaning set forth in Section 5.1. 
 “S-X 3-16 Exclusion” The exclusion, pursuant to the Security Documents, of any Capital Stock or any other security of a Subsidiary from the Collateral if the pledge of such Capital Stock
or other security to secure the Secured Obligations would cause such Subsidiary to be required to file separate financial statements with the Securities Exchange Commission pursuant to Rule 3-16 of Regulation S-X under the Securities Act.

 “trading day” means a day on which (i) there is no “market disruption event” and
(ii) trading in the Issuer’s Common Stock generally occurs on the New York Stock Exchange or, if the Issuer’s Common Stock is not then listed on the New York Stock Exchange, on the principal other U.S. national or regional securities
exchange on which the Issuer’s Common Stock is then listed or, if the Issuer’s Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Issuer’s Common Stock is
then listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, a “trading day” means a Business Day. 

  
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 “TIA” means the Trust Indenture Act of 1939 (15 U.S.C.
§§ 77aaa-77bbbb), as in effect on the date of this Indenture; provided that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act of 1939 as so amended. 
 “Trust Officer” means any officer within the Corporate Trust Office
including any Vice President, Managing Director, Director, Assistant Vice President, Associate, or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also, with
respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge and familiarity with the particular subject, or in the case of a successor trustee, an officer assigned to the department,
division or group performing the corporation trust work of such successor and assigned to administer this Indenture. 

“Trustee” means the party named as such in this Indenture until a successor replaces it in accordance with the
provisions of this Indenture and thereafter means such successor. 
 “UCC” shall mean the Uniform Commercial
Code as in effect in the State of New York, and any successor statute, as in effect from time to time (except that terms used herein which are defined in the Uniform Commercial Code as in effect in the State of New York on the date hereof
shall continue to have the same meaning notwithstanding any replacement or amendment of such statute except as the Collateral Agent may otherwise determine). 
 “Upstream Restricted Payment” means any dividend, distribution, repayment, prepayment, repurchase, redemption, purchase or other retirement for value of Equity Interests or Subordinated
Indebtedness of the Issuer or any of the Restricted Subsidiaries, except for any of the foregoing made to the Issuer or a Restricted Subsidiary. 
 “Unrestricted Subsidiary” means: 
 (1) as of the
Issue Date, Endeavor Gathering LLC; 
 (2) any Subsidiary of the Issuer that at the time of determination shall
be designated an Unrestricted Subsidiary by the Board of Directors of the Issuer in the manner provided below; and 
 (3) any Subsidiary of an Unrestricted Subsidiary. 
 The Board of Directors of the
Issuer may designate any Subsidiary of the Issuer (including any newly acquired or newly formed Subsidiary or a Person becoming a Subsidiary through merger or consolidation or Investment therein) to be an Unrestricted Subsidiary only if: 

  
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 (1) such Subsidiary or any of its Subsidiaries does not (a) own any
Capital Stock or Indebtedness of or have any Investment in, or own or hold any Lien on any property of, any other Subsidiary of the Issuer that is not a Subsidiary of the Subsidiary to be so designated or otherwise an Unrestricted Subsidiary or
(b) own or hold Collateral; 
 (2) all the Indebtedness of such Subsidiary and its Subsidiaries shall, at
the date of designation, and will at all times thereafter, consist of Non-Recourse Debt; 
 (3) on the date of
such designation, such designation and the Investment of the Issuer in such Subsidiary complies with Section 4.10; 
 (4) such Subsidiary is a Person with respect to which neither the Issuer nor any of its Restricted Subsidiaries has any direct or indirect obligation: 

(a) to subscribe for additional Capital Stock of such Person; or 

(b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified
levels of operating results; and 
 (5) on the date such Subsidiary is designated an Unrestricted Subsidiary,
such Subsidiary is not a party to any agreement, contract, arrangement or understanding with the Issuer or any Restricted Subsidiary with terms substantially less favorable to the Issuer than those that might have been obtained from Persons who are
not Affiliates of the Issuer. 
 Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee
by filing with the Trustee a resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer’s Certificate certifying that such designation complies with the foregoing conditions. If, at any time, any
Unrestricted Subsidiary would fail to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary shall be deemed to
be Incurred as of such date. 
 The Board of Directors of the Issuer may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided that immediately after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 

“U.S. Government Obligations” means securities that are (a) direct obligations of the United States of America for
the timely payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of

  
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which is unconditionally guaranteed as a full faith and credit obligation of the United States of America, which, in either case, are not callable or redeemable at the option of the issuer
thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or interest on
any such U.S. Government Obligations held by such custodian for the account of the Holder of such depositary receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to
the Holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depositary
receipt. 
 “U.S. Legal Tender” means such coin or currency of the United States of America as at the time of
payment shall be legal tender for the payment of public and private debts. 
 “Volumetric Production Payments”
means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith. 
 “Voting Stock” of an entity means all classes of Capital Stock of such entity then outstanding and normally entitled to vote in the election of members of such entity’s Board of
Directors. 
 “Wholly Owned Subsidiary” means a Restricted Subsidiary, all of the Capital Stock of which (other
than directors’ qualifying shares) is owned by the Issuer or another Wholly Owned Subsidiary. 
 Section 1.2
Incorporation by Reference of TIA. Whenever this Indenture refers to a provision of the TIA, such provision is incorporated by reference in, and made a part of, this Indenture. The following TIA terms used in this Indenture have the following
meanings: 
 “indenture securities” means the Notes; 

“indenture security holder” means a Holder; 
 “indenture to be qualified” means this Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; 

“obligor” on this Indenture securities means the Issuer or any other obligor on the Notes. 

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC
rule and not otherwise defined herein have the meanings assigned to them therein. 

  
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 Section 1.3 Rules of Construction. Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive; 

(4) words in the singular include the plural, and words in the plural include the singular; 

(5) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not
to any particular Article, Section or other subdivision; 
 (6) any reference to a statute, law or
regulation means that statute, law or regulation as amended and in effect from time to time and includes any successor statute, law or regulation; provided, however, that any reference to the Bankruptcy Law shall mean the Bankruptcy
Law as applicable to the relevant case; and 
 (7) for the avoidance of doubt, the term “all or
substantially all,” when applied to the Collateral, shall not be read to mean “any” of such Collateral as a result of the Issuer or the relevant Subsidiary being in the “zone of insolvency”. 

ARTICLE II 
 THE NOTES 
 Section 2.1 Form and Dating. 

(a) General. The Notes and the Trustee’s certificate of authentication relating thereto shall be substantially in the form of
Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or depository rule or usage. The Issuer shall approve the form of the Notes and any notation, legend or endorsement on them.
Each Note shall be dated the date of its issuance and shall show the date of its authentication. 
 The terms and provisions
contained in the Notes, a form of which is annexed hereto as Exhibit A, shall constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable, the Issuer and the Trustee, by their execution and delivery
of this Indenture, expressly agree to such terms and provisions and to be bound thereby. 

  
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 (b) Global Notes. Notes issued in global form shall be substantially in the form of
Exhibit A (the “Global Note”) attached hereto (including the Global Note Legend thereon). Notes issued in definitive form shall be substantially in the form of Exhibit A attached hereto (but without the
Global Note Legend thereon). Each Global Note shall provide that it shall represent up to the aggregate principal amount of Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may
from time to time be reduced or increased, as applicable, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented
thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.6 hereof. 

(c) Terms. The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is limited to
$60.0 million. Subject to the foregoing, Additional Notes, which shall be deemed to be Notes, issued after the Issue Date may be created and issued from time to time by the Issuer without other notice to or consent of the Holders and shall be
consolidated with and form a single class with the Notes issued on the Issue Date and shall have the same terms as to status, redemption or otherwise as the Notes issued on the Issue Date. 

Section 2.2 Execution and Authentication; Aggregate Principal Amount. At least one Officer shall execute the Notes for the Issuer
by manual or facsimile signature. 
 If an Officer whose signature is on a Note was an Officer at the time of such execution but
no longer holds that office or position at the time the Trustee authenticates the Note, the Note shall nevertheless be valid. 

A Note shall not be valid until an authorized signatory of the Trustee manually or by facsimile signs the certificate of authentication
on the Note. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 
 The
Trustee shall authenticate (i) Notes for original issue on the Issue Date in an aggregate principal amount not to exceed $60.0 million and (ii) Additional Notes, in each case, upon a written order of the Issuer in the form of an
Officer’s Certificate. Each such written order shall specify the amount of Notes to be authenticated and the date on which the Notes are to be authenticated, whether the Notes are to be Notes or Additional Notes and whether the Notes are to be
issued as Definitive Notes or Global Notes or such other information as the Trustee may reasonably request. Any Additional Notes shall be part of the same issue as the Notes being issued on the Issue Date and will vote on all matters as one class
with the Notes being issued on the Issue Date, including, without limitation, waivers, amendments, redemptions, Change of Control Offers and Asset Disposition Offers. For the purposes of this Indenture, except where specifically indicated or that
context otherwise requires, references to the Notes include Additional Notes, if any. In addition, with respect to authentication pursuant to clause (ii) of the first 

  
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sentence of this paragraph, the first such written order from the Issuer shall be accompanied by an Opinion of Counsel of the Issuer in a form reasonably satisfactory to the Trustee stating that
the issuance of the Additional Notes does not give rise to an Event of Default, complies with this Indenture and has been duly authorized by the Issuer. 
 The Trustee may appoint an authenticating agent (the “Authenticating Agent”) reasonably acceptable to the Issuer to authenticate Notes. Unless otherwise provided in the appointment, an
Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such Authenticating Agent. An Authenticating Agent has the same rights as an
Agent to deal with the Issuer or with any Affiliate of the Issuer. 
 The Notes shall be issuable in fully registered form only,
without coupons, in denominations of at least $1,000 and any integral multiples of $1,000 in excess thereof. 
 Section 2.3
Registrar and Paying Agent. The Issuer shall maintain an office or agency where (a) Notes may be presented or surrendered for registration of transfer or for exchange (“Registrar”), (b) Notes may be presented or
surrendered for payment (“Paying Agent”) and (c) notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served. The Registrar shall keep a register of the Notes and of their transfer and
exchange. The Issuer, upon prior written notice to the Trustee, may have one or more co-Registrars and one or more additional paying agents reasonably acceptable to the Trustee. The term “Paying Agent” includes any additional Paying Agent.
The Issuer may act as Paying Agent, except that, for the purposes of payments on the Notes pursuant to Sections 4.12 and 4.13, neither the Issuer nor any Affiliate of the Issuer may act as Paying Agent. 

The Issuer shall enter into an appropriate agency agreement with any Agent not a party to this Indenture, which agreement shall
incorporate the provisions of the TIA and implement the provisions of this Indenture that relate to such Agent. The Issuer shall notify the Trustee, in advance, of the name and address of any such Agent. If the Issuer fails to maintain a Registrar
or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such. 
 The Issuer initially appoints the
Trustee as Registrar, Paying Agent and agent for service of demands and notices in connection with the Notes, until such time as the Trustee has resigned or a successor has been appointed. Any of the Registrar, the Paying Agent or any other agent
may resign upon 30 days’ prior written notice to the Issuer. 
 Section 2.4 Paying Agent To Hold Assets in Trust.
The Issuer shall require each Paying Agent other than the Trustee to agree in writing that such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of or
interest on the Notes (whether such assets have been distributed to it by the Issuer or any other obligor on the Notes), and the Issuer and the Paying Agent shall notify the Trustee of any Default by the Issuer (or any 

  
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other obligor on the Notes) in making any such payment. The Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed
and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. If the
Issuer acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all assets held by it as Paying Agent. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuer to
the Paying Agent, the Paying Agent (if other than the Issuer) shall have no further liability for such assets. 
 Section 2.5
Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of the Holders and shall otherwise comply with TIA § 312(a). If the Trustee
is not the Registrar, the Issuer shall furnish or cause the Registrar to furnish to the Trustee before each Record Date and at such other times as the Trustee may request in writing a list as of such date and in such form as the Trustee may
reasonably require of the names and addresses of the Holders, which list may be conclusively relied upon by the Trustee. 

Section 2.6 Transfer and Exchange. 
 (a) Transfer and Exchange of Global Notes. Except as otherwise set forth in this Section 2.6, a Global Note may be transferred, in whole and not in part, only to another nominee of the
Depository or to a successor Depository or a nominee of such successor Depository. A beneficial interest in a Global Note may not be exchanged for a Definitive Note unless (i) the Depository (x) notifies the Issuer that it is unwilling or
unable to continue as Depository for such Global Note or (y) has ceased to be a clearing agency registered under the Exchange Act and, in either case, a successor Depository is not appointed by the Issuer within 120 days or (ii) there
shall have occurred and be continuing a Default with respect to the Notes. Upon the occurrence of any of the preceding events in clause (i) or (ii) above, Definitive Notes delivered in exchange for any Global Note or beneficial interests
therein will be registered in the names, and issued in any approved denominations, requested by or on behalf of the Depository (in accordance with its customary procedures). Global Notes also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.7 and 2.10 hereof. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.6 or Section 2.7 or
2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note, except for Definitive Notes issued subsequent to any of the preceding events in clause (i) or (ii) above and pursuant to
Section 2.6(c) hereof. A Global Note may not be exchanged for another Note other than as provided in this Section 2.6(a); provided, however, beneficial interests in a Global Note may be transferred and exchanged
as provided in Section 2.6(b) or (c) hereof. 
 (b) Transfer and Exchange of Beneficial Interests in
the Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depository, in accordance with the provisions of this Indenture and the Applicable Procedures. The transferor of such
beneficial interest must deliver to the Registrar either: 

  
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 (i) both: 

(A) a written order from a Participant or an Indirect Participant given to the Depository in accordance with the
Applicable Procedures directing the Depository to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(B) instructions given in accordance with the Applicable Procedures containing information regarding the Participant
account to be credited with such increase; or 
 (ii) both: 

(A) a written order from a Participant or an Indirect Participant given to the Depository in accordance with the
Applicable Procedures directing the Depository to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(B) instructions given by the Depository to the Registrar containing information regarding the Person in whose name such
Definitive Note shall be registered to effect the transfer or exchange referred to in clause (A) immediately above. 
 (c)
Transfer and Exchange of Beneficial Interests in Global Notes for Definitive Notes. If any holder of a beneficial interest in a Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial
interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 2.6(b), the Trustee shall cause the aggregate principal amount of the applicable Global Note
to be reduced accordingly pursuant to Section 2.6(g), and the Issuer will execute and the Trustee will authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any
Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.6(c) will be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest requests
through instructions to the Registrar from or through the Depository and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the Persons in whose names such Notes are so registered. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests in Global Notes. A Holder of a Definitive Note may exchange
such Note for a beneficial interest in a Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Global Note at any time. Upon receipt of a request for such an exchange or
transfer, the Trustee will cancel the applicable Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Global Notes. 

  
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 (e) Transfer and Exchange of Definitive Notes for Definitive Notes. A Holder of
Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of another Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Definitive Notes pursuant to the
instructions from the Holder thereof. 
 (f) Cancellation and/or Adjustment of Global Notes. At such time as all
beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and
canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of
a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository
at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global
Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

(g) General Provisions Relating to Transfers and Exchanges. 

(i) To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate
Global Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.2 hereof or at the Registrar’s request. 
 (ii) No service charge shall be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Issuer may require
payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to
Sections 2.7, 2.10, 3.7, 4.11, 4.12 and 9.5 hereof). 
 (iii)
Neither the Registrar nor the Issuer shall be required to register the transfer of or exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 

(iv) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or
Definitive Notes shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

  
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 (v) Neither the Registrar nor the Issuer shall be required (A) to
issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.2 hereof and ending at the close of business
on the day of selection, (B) to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part or (C) to register the transfer of or to
exchange a Note between a Record Date and the next succeeding Interest Payment Date. 
 (vi) Prior to due
presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuer may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal
of and interest on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary. 
 (vii) Upon surrender for registration of transfer of any Note at the office or agency of the Issuer designated pursuant to Section 4.2 hereof, the Issuer shall execute, and the Trustee shall
authenticate and mail, in the name of the designated transferee or transferees, one or more replacement Notes of any authorized denomination or denominations of a like aggregate principal amount. 

(viii) At the option of the Holder, Notes may be exchanged for other Notes of any authorized denomination or
denominations of a like aggregate principal amount upon surrender of the Notes to be exchanged at such office or agency. Whenever any Global Notes or Definitive Notes are so surrendered for exchange, the Issuer shall execute, and the Trustee shall
authenticate and mail, the replacement Global Notes and Definitive Notes which the Holder making the exchange is entitled to in accordance with the provisions of Section 2.2 hereof. 

(ix) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this
Section 2.6 to effect a registration of transfer or exchange may be submitted by facsimile. 
 (x)
To the extent that any Notes are issued at a discount to their stated redemption price at maturity and bear the OID Legend, each group of Notes bearing a given amount of original issue discount shall be treated as a separate series only for purposes
of the transfer and exchange provisions of this Section 2.6 and may trade under a separate CUSIP number. 
 Section
2.7 Replacement Notes. If a mutilated Note is surrendered to the Trustee or if the Holder of a Note claims that the Note has been lost, destroyed or wrongfully taken, the Issuer shall issue and the Trustee shall authenticate a replacement
Note if the Trustee’s requirements are met. If required by the Trustee or the Issuer, such Holder must provide an indemnity bond or other indemnity of reasonable tenor, sufficient in the reasonable judgment of the Issuer and the Trustee, to
protect the Issuer, the Trustee or any Agent from any loss which any of them may suffer if a Note is replaced. Every replacement Note shall constitute an additional obligation of the Issuer. 

  
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 Section 2.8 Outstanding Notes. Notes outstanding at any time are all the Notes that
have been authenticated by the Trustee except those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof and those described in
this Section as not outstanding. Subject to the provisions of Section 2.9, a Note does not cease to be outstanding because the Issuer or any of its Affiliates holds the Note. 

If a Note is replaced pursuant to Section 2.7 (other than a mutilated Note surrendered for replacement), it ceases to be
outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser. A mutilated Note ceases to be outstanding upon surrender of such Note and replacement thereof pursuant to
Section 2.7. 
 If the principal amount of any Note is considered paid under Section 4.1, it ceases to
be outstanding and interest on it ceases to accrue. 
 If on a Redemption Date or the Maturity Date the Paying Agent (other than
the Issuer, a Subsidiary or an Affiliate of any thereof) holds U.S. Legal Tender or U.S. Government Obligations sufficient to pay all of the principal and interest due on the Notes payable on that date and is not prohibited from paying such money to
the Holders thereof pursuant to the terms of this Indenture, then on and after that date such Notes shall be deemed not to be outstanding and interest on them shall cease to accrue. 

Section 2.9 Treasury Notes. In determining whether the Holders of the required principal amount of Notes have concurred in any
direction, waiver, consent or notice, Notes owned by the Issuer or any Subsidiary of the Issuer or an Affiliate of the Issuer or any such Subsidiary shall be considered as though they are not outstanding, except that for the purposes of determining
whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that a Trust Officer of the Trustee actually knows are so owned shall be so considered. The Issuer shall notify the Trustee, in writing, when, to
its knowledge, any of its Subsidiaries, any of its Affiliates or any of its Subsidiaries’ Affiliates repurchase or otherwise acquire Notes, of the aggregate principal amount of such Notes so repurchased or otherwise acquired and such other
information as the Trustee may reasonably request and the Trustee shall be entitled to rely thereon. 
 Section 2.10
Temporary Notes. Until definitive Notes are ready for delivery, the Issuer may prepare and the Trustee shall authenticate temporary Notes upon receipt of a written order of the Issuer in the form of an Officer’s
Certificate. The Officer’s Certificate shall specify the amount of temporary Notes to be authenticated and the date on which the temporary Notes are to be authenticated. Temporary Notes shall be substantially in the form of definitive Notes but
may have variations that the Issuer considers appropriate for temporary Notes and as may be reasonably acceptable to the Trustee. Without unreasonable delay, the Issuer shall prepare and the Trustee shall authenticate, upon receipt of a written
order of the Issuer pursuant to Section 2.2, definitive Notes in exchange for temporary Notes. 

  
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 Section 2.11 Cancellation. The Issuer at any time may deliver Notes to the Trustee
for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Notes surrendered to them for transfer, exchange or payment. The Trustee, or at the direction of the Trustee, the Registrar or the Paying Agent, and no one else,
shall cancel and, at the written direction of the Issuer, shall dispose, in its customary manner, of all Notes surrendered for transfer, exchange, payment, replacement or cancellation. The Trustee shall maintain a record of all cancelled Notes, and
certification of the destruction of all cancelled Notes shall be delivered to the Issuer. Subject to Section 2.7, the Issuer may not issue new Notes to replace Notes that they have paid or delivered to the Trustee for cancellation. If
the Issuer shall acquire any of the Notes, such acquisition shall not operate as a redemption or satisfaction of the Indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for cancellation pursuant to this
Section 2.11. 
 Section 2.12 Defaulted Interest. The Issuer will pay interest on overdue principal from time
to time on demand at a rate of nine percent (9.000%) per annum. The Issuer shall, to the extent lawful, pay interest on any overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at a rate
of nine percent (9.000%) per annum. Any such interest on overdue installments of interest must be paid in cash; provided, however, that if paid prior to the second anniversary of the Issue Date, any such interest on overdue installments
of interest may be paid in the Issuer’s sole discretion in the form of cash or shares of common stock of the Issuer, par value $.001 per share (the “Issuer’s Common Stock”), including fractional shares, or a combination
thereof, with the number of shares of the Issuer’s Common Stock calculated pursuant to Section 2.17. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months, and, in the case of a partial month,
the actual number of days elapsed. 
 If the Issuer defaults in a payment of interest on the Notes, it shall pay the defaulted
interest, plus (to the extent lawful) any interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which special record date shall be the fifteenth day next preceding the date fixed by the
Issuer for the payment of defaulted interest or the next succeeding Business Day if such date is not a Business Day. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of
the proposed payment (a “Default Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money or shares of the Issuer’s Common Stock equal to the aggregate amount proposed to be
paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money or shares of the Issuer’s Common Stock when deposited to be held in
trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section; provided, however, that in no event shall the Issuer deposit monies or shares of the Issuer’s Common Stock proposed to be paid
in respect of defaulted interest later than 11:00 a.m., New York City time, on the proposed Default 

  
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Interest Payment Date. At least 15 days before the subsequent special record date, the Issuer shall mail (or cause to be mailed) to each Holder, as of a recent date selected by the Issuer, with a
copy to the Trustee, a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest to be paid. Notwithstanding the foregoing, (a) any interest
which is paid prior to the expiration of the 30-day period set forth in Section 6.1(1) shall be paid to Holders as of the regular record date for the Interest Payment Date for which interest has not been paid, and (b) the Issuer may
make payment of any defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange. 

Section 2.13 CUSIP Number. The Issuer in issuing the Notes may use one or more “CUSIP” numbers, and, if so, the Trustee
shall use the CUSIP numbers in notices of redemption or exchange as a convenience to Holders; provided, however, that no representation is hereby deemed to be made by the Trustee as to the correctness or accuracy of any CUSIP number
printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes. The Issuer shall promptly notify the Trustee of any change in the CUSIP numbers. 

Section 2.13 Deposit of Monies or Shares of the Issuer’s Common Stock. Prior to 11:00 a.m., New York City time, on
each Interest Payment Date, Maturity Date, Redemption Date and Change of Control Payment Date, the Issuer shall have deposited with the Paying Agent in immediately available funds money or shares of the Issuer’s Common Stock, to the extent
permitted by Section 2.17, sufficient to make payments, if any, due on such Interest Payment Date, Maturity Date, Redemption Date and Change of Control Payment Date, as the case may be, in a timely manner that permits the Paying Agent to
remit payment to the Holders on such Interest Payment Date, Maturity Date, Redemption Date and Change of Control Payment Date, as the case may be. 
 Section 2.15 Legends. 
 (i) Global Note Legend. Each
Global Note shall bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITORY (AS
DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.6 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 

  
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2.6(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED
TO A SUCCESSOR DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE
DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE ISSUER OR ITS AGENTS FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

(ii) OID Legend. To the extent required by Section 1275(c)(1)(A) of the Code, and Treasury Regulation
Section 1.1275-3(b)(1), each Note issued at a discount to its stated redemption price at maturity shall bear a legend (the “OID Legend”) in substantially the following form (with any necessary amendments thereto to reflect any
amendments occurring after the Issue Date to the applicable sections): 
 “FOR THE PURPOSES OF SECTIONS 1272, 1273 AND
1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THIS NOTE IS BEING ISSUED WITH ORIGINAL ISSUE DISCOUNT. YOU MAY CONTACT THE ISSUER AT GMX RESOURCES, INC., 9400 

  
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NORTH BROADWAY, SUITE 600, OKLAHOMA CITY, OK 73114, ATTENTION: TREASURER, AND THE ISSUER WILL PROVIDE YOU WITH THE ISSUE PRICE, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT, THE ISSUE DATE AND THE YIELD
TO MATURITY OF THIS NOTE.” 
 Section 2.16 Designation. The Indebtedness evidenced by the Notes is hereby
irrevocably designated as “senior secured second-priority indebtedness” or such other term denoting seniority for the purposes of any other existing or future Indebtedness of the Issuer, as the case may be, which the Issuer, as the case
may be, makes subordinate to any senior secured second-priority (or such other term denoting seniority) indebtedness of such Person. 
 Section 2.17 Payment of Interest. 
 (a) Interest on the Notes will:

 (1) compound quarterly; 

(2) accrue from the date of issuance of any such Notes or, if interest has already been paid on any such Notes, from the
most recent Interest Payment Date; 
 (3) accrue for such interest period at the rate of 9.0% per annum,
payable in arrears; 
 (4) be payable on each March 2, June 2, September 2 and
December 2, commencing March 2, 2013, to Holders of record of the Notes as of the February 16, May 16, August 16 and November 16 immediately preceding the relevant Interest Payment Date; and 

(5) be computed on the basis of a 360-day year comprised of twelve 30-day months. 

(b) The Issuer, in its sole discretion, may elect to pay all or any portion of an interest payment in the form of cash or shares of the
Issuer’s Common Stock (including fractional shares). The Issuer may only elect to pay interest in the form of shares of the Issuer’s Common Stock with respect to an Interest Payment Date that occurs prior to the second anniversary of the
Issue Date. Any election to pay interest in the form of shares of the Issuer’s Common Stock shall specify the interest period subject to such election and may only be made by written notice given to the Trustee and the Holders at least 10
Business Days prior to the record date for the interest period for which such election is to be made (the issuance of a press release or the filing of a current report on Form 8-K with the SEC, in each case, relating to such an election, shall be
deemed to be written notice given to the Holders). 

  
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 (c) If the Issuer elects to pay all or any portion of an interest payment in the form of
shares of the Issuer’s Common Stock, the number of shares of the Issuer’s Common Stock to be issued in lieu of cash shall be equal to the quotient of (a) the difference between the total amount of such interest payment and the amount
of such interest payment paid in cash, divided by (b) the adjusted daily VWAP of a share of the Issuer’s Common Stock for the applicable observation period. Such calculation shall be made by the Issuer and delivered to the Trustee and the
Paying Agent. 
 (d) If an Interest Payment Date falls on a day that is not a Business Day, the interest payment to be made on
such Interest Payment Date will be made on the next succeeding Business Day with the same force and effect as if made on such Interest Payment Date, and no additional interest will accrue as a result of such delayed payment. 

ARTICLE III 
 REDEMPTION 
 Section 3.1 Notices to Trustee. If the Issuer elects to
redeem Notes pursuant to Paragraph 5 of the Notes, they shall notify the Trustee and the Paying Agent in writing of the Redemption Date and the principal amount of the Notes to be redeemed. 

The Issuer shall give each notice provided for in this Section 3.1 60 days before the Redemption Date (unless a shorter
notice period shall be satisfactory to the Trustee, as evidenced in a writing signed on behalf of the Trustee), together with an Officer’s Certificate stating that such redemption shall comply with the conditions contained herein and in the
Notes. 
 Section 3.2 Selection of Notes To Be Redeemed. If less than all of the outstanding Notes are to be redeemed at
any time, selection of such Notes, or portions thereof, for redemption will be made by the Trustee either in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are
not then listed or admitted to trading on a national securities exchange, on a pro rata basis, by lot or by such other method as the Trustee shall deem fair and appropriate. No Notes of a principal amount of $1,000 or less shall be redeemed in part.
Notice of redemption shall be mailed by first-class mail at least 30 but not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at its registered address. If any Note is to be redeemed in part only, the notice of
redemption that relates to such Note shall state the portion of the principal amount thereof to be redeemed. A new Note in a principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation
of the original Note. On and after the applicable Redemption Date, interest will cease to accrue on Notes or portions thereof called for redemption unless the Issuer defaults in the payment thereof. 

Section 3.3 Mandatory and Optional Redemption. Except as required under Section 4.12 or 4.13, the Issuer will
not be required to make any mandatory redemption or sinking fund payments with respect to the Notes. The Issuer may at any time and from time to time purchase Notes in the open market, in privately negotiated

  
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transactions or otherwise. The Notes will be redeemable, at the Issuer’s option, in whole or in part at any time and from time to time, upon not less than 30 nor more than 60 days’
prior notice, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest on such Notes, if any, to, but not including, the Redemption Date (subject to the right of Holders of record on
the relevant Record Date to receive interest due on the relevant Interest Payment Date). 
 Section 3.4 Notice of
Redemption. In connection with a redemption pursuant to Section 3.3, at least 30 days but not more than 60 days before a Redemption Date, the Issuer shall mail or cause to be mailed a notice of redemption by first-class mail to
each Holder of Notes to be redeemed at its registered address, with a copy to the Trustee and any Paying Agent. At the Issuer’s request, the Trustee shall give the notice of redemption in the Issuer’s name and at the Issuer’s expense.
The Issuer shall provide such notices of redemption to the Trustee at least three Business Days before the intended mailing date. 
 Each notice of redemption shall identify (including the CUSIP number) the Notes to be redeemed and shall state: 
 (1) the Redemption Date; 
 (2) the Redemption Price and the amount of unpaid
accrued interest to be paid; 
 (3) the name and address of the Paying Agent; 

(4) the subparagraph of the Notes pursuant to which such redemption is being made; 

(5) that Notes called for redemption must be surrendered to the Paying Agent to collect the Redemption Price plus unpaid accrued
interest, if any; 
 (6) that, unless the Issuer defaults in making the redemption payment, interest on Notes or applicable
portions thereof called for redemption ceases to accrue on and after the Redemption Date, and the only remaining right of the Holders of such Notes is to receive payment of the Redemption Price plus unpaid accrued interest as of the Redemption Date,
if any, upon surrender to the Paying Agent of the Notes redeemed; 
 (7) if any Note is being redeemed in part, the portion of
the principal amount of such Note to be redeemed and that, after the Redemption Date, and upon surrender of such Note, a new Note or Notes in the aggregate principal amount equal to the unredeemed portion thereof will be issued; and 

(8) if fewer than all the Notes are to be redeemed, the identification of the particular Notes (or portion thereof) to be redeemed, as
well as the aggregate principal amount of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding after such partial redemption. 

  
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 The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act and
any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the purchase of Notes. 
 Section 3.5 Effect of Notice of Redemption. Once notice of redemption is mailed in accordance with Section 3.4, such notice of redemption shall be irrevocable, and Notes called for
redemption shall become due and payable on the Redemption Date and at the Redemption Price plus unpaid accrued interest to, but not including such Redemption Date, if any. Upon surrender to the Trustee or Paying Agent, such Notes called for
redemption shall be paid at the Redemption Price plus unpaid accrued interest thereon to the Redemption Date, but installments of interest, the maturity of which is on or prior to the Redemption Date, shall be payable to Holders of record at the
close of business on the relevant Record Dates referred to in the Notes. Interest shall accrue on or after the Redemption Date and shall be payable only if the Issuer defaults in payment of the Redemption Price or accrued interest. 

Section 3.6 Deposit of Redemption Price. On or before the Redemption Date and in accordance with Section 2.14, the
Issuer shall deposit with the Paying Agent U.S. Legal Tender or shares of the Issuer’s Common Stock (to the extent permitted by Section 2.17) sufficient to pay the Redemption Price plus unpaid accrued interest of all Notes to be
redeemed on that date. The Paying Agent shall promptly return to the Issuer any U.S. Legal Tender or shares of the Issuer’s Common Stock so deposited that are not required for that purpose, except with respect to monies owed as obligations to
the Trustee pursuant to Article VII. 
 Unless the Issuer fails to comply with the preceding paragraph and defaults
in the payment of such Redemption Price plus unpaid accrued interest, interest on the Notes to be redeemed will cease to accrue on and after the applicable Redemption Date, whether or not such Notes are presented for payment. 

Section 3.7 Notes Redeemed in Part. Upon surrender of a Note that is to be redeemed in part, the Trustee shall authenticate for
the Holder a new Note or Notes equal in principal amount to the unredeemed portion of the Note surrendered. 
 ARTICLE IV

 COVENANTS 
 Section 4.1 Payment of Notes. 
 (a) The Issuer shall pay the principal of
and interest on the Notes on the dates and in the manner provided in the Notes and in this Indenture. 
 (b) An installment of
principal of or interest on the Notes shall be considered paid on the date it is due if the Trustee or Paying Agent (other than the Issuer or any of its Affiliates) holds, prior to 11:00 a.m., New York City time, on that date U.S. Legal
Tender or shares of the Issuer’s Common Stock (to the extent permitted by Section 2.17) designated for and sufficient to pay the installment in full and is not prohibited from paying such money to the Holders pursuant to the terms
of this Indenture or the Notes. 

  
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 (c) Notwithstanding anything to the contrary contained in this Indenture, the Issuer may, to
the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America from principal or interest payments under this Indenture. 

Section 4.2 Maintenance of Office or Agency. The Issuer shall maintain the office or agency required under
Section 2.3. The Issuer shall give prior written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or
shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the address of the Trustee set forth in Section 12.2. 

Section 4.3 Organizational Existence. Except as otherwise permitted by Article V, the Issuer shall do or cause to be
done, at its own cost and expense, all things necessary to preserve and keep in full force and effect its organizational existence and the organizational existence of each of its Restricted Subsidiaries in accordance with the respective
organizational documents of each such Restricted Subsidiary and the material rights (charter and statutory) and franchises of the Issuer and each such Restricted Subsidiary; provided, however, that the Issuer shall not be required to
preserve, with respect to itself, any material right or franchise and, with respect to any of its Restricted Subsidiaries, any such existence, material right or franchise, if the Board of Directors of the Issuer shall determine in good faith that
the preservation thereof is no longer desirable in the conduct of the business of the Issuer and its Subsidiaries, taken as a whole. 
 Section 4.4 Payment of Taxes and Other Claims. The Issuer shall pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (i) all material taxes, assessments
and governmental charges (including withholding taxes and any penalties, interest and additions to taxes) levied or imposed upon it or any of its Restricted Subsidiaries or properties of it or any of its Restricted Subsidiaries and (ii) all
material lawful claims for labor, materials and supplies that, if unpaid, might by law become a Lien upon the property of the Issuer or any of its Restricted Subsidiaries; provided, however, that the Issuer shall not be required to pay
or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate negotiations or proceedings properly instituted and diligently conducted
for which adequate reserves, to the extent required under GAAP, have been taken. 
 Section 4.5 Maintenance of Properties and
Insurance. 
 (a) The Issuer shall, and shall cause each of the Restricted Subsidiaries to, maintain all properties used or
useful in the conduct of its business in good working order and condition (subject to ordinary wear and tear) and make all necessary repairs, 

  
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renewals, replacements, additions, betterments and improvements thereto and actively conduct and carry on its business; provided, however, that nothing in this
Section 4.5 shall prevent the Issuer or any of the Restricted Subsidiaries from discontinuing the operation and maintenance of any of its properties, if such discontinuance is (i) in the ordinary course of business pursuant to
customary business terms or (ii) in the good faith judgment of the respective Boards of Directors or other governing body of the Issuer or Restricted Subsidiary, as the case may be, desirable in the conduct of their respective businesses and is
not disadvantageous in any material respect to the Holders. 
 (b) The Issuer shall provide or cause to be provided, for itself
and each of the Restricted Subsidiaries, insurance (including appropriate self-insurance) against loss or damage of the kinds that, in the good faith judgment of the Issuer, are adequate and appropriate for the conduct of the business of the Issuer
and its Restricted Subsidiaries in a prudent manner, with reputable insurers or with the government of the United States of America, Canada or an agency or instrumentality thereof, in such amounts, with such deductibles, and by such methods as shall
be customary, in the good faith judgment of the Issuer, for companies similarly situated in the industry. Within 30 days after the date hereof, the Issuer shall furnish to the Collateral Agent policies or certificates of insurance covering the
Collateral and other assets of the Issuer. Each policy shall: (i) reflect the Collateral Agent, for its benefit and the benefit of the Holders, as additional insured and loss payee and mortgagee and shall otherwise bear endorsements to such
effect; (ii) contain an agreement by the insurer, if available at reasonable cost, not to cancel, amend, materially reduce the amount or materially change the coverage under the policy without giving the Collateral Agent at least thirty
(30) days prior written notice of its intention to do so and (iii) if reasonably requested by the Collateral Agent, include a breach of warranty clause. The Issuer shall furnish or cause to be furnished to the Collateral Agent from time to
time, and in no event less than once per calendar year, a compliance certificate from an independent third-party insurance consultant with experience in the Oil and Gas Business certifying that (i) the insurance with respect to the Collateral
is in full force and effect and (ii) that it fully complies with requirements that are customary in the Oil and Gas Business. In the event the Issuer should, for any reason whatsoever, fail to keep the Collateral or any part thereof so insured
or fail to furnish to the Collateral Agent such compliance certificate, then the Collateral Agent, if it so elects, may itself have such insurance effected in such amounts and in such companies as it may deem proper and may pay the premiums therefor
and the Issuer shall reimburse the Collateral Agent upon demand for the amount of the premiums paid, together with interest thereon until paid at a rate equal to the rate of interest charged on the principal of the Notes plus one percent (1%). The
Collateral Agent shall not be responsible for the solvency of any company issuing any insurance policy, whether or not selected or approved by it, or for the collection of any amounts due under any such policy, and shall be responsible and
accountable only for such money as may be actually received by the Collateral Agent. The Issuer shall promptly notify the Collateral Agent if any portion of the Collateral in excess of $1,500,000 is physically damaged, destroyed or condemned;
provided that the foregoing shall not include damages to wells or well bores or in Oil and Gas Properties incurred in the ordinary course of business of drilling or producing such properties in an aggregate amount of less than $5,000,000. The
Issuer shall promptly further notify the Issuer’s insurance company and submit an appropriate 

  
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claim and proof of claim to the insurance company if such a casualty or accident occurs. In the event of any loss under any of such policies, the Collateral Agent shall pay the net proceeds
thereof to the Issuer, either wholly or in part, unless an Event of Default has occurred an is continuing, in which event the Collateral Agent may hold the net proceeds as additional Collateral or pay the net proceeds to the Issuer under such
conditions as the Collateral Agent may determine to enable the Issuer to repair or restore the Collateral. 
 Section 4.6
Compliance Certificate; Notice of Default. 
 (a) The Issuer shall deliver to the Trustee, within 120 days after the end
of each of its fiscal years, an Officer’s Certificate (provided, however, that the signatory to each such Officer’s Certificate must state that he or she is the Issuer’s principal executive officer, principal financial
officer or principal accounting officer), as to such Officers’ knowledge, without independent investigation, of the Issuer’s compliance with all conditions and covenants under this Indenture (without regard to any period of grace or
requirement of notice provided under this Indenture) and in the event any Default under this Indenture exists, such Officers shall specify the nature of such Default. Each such Officer’s Certificate shall also notify the Trustee should the
Issuer elect to change the manner in which it fixes its fiscal year end. 
 (b)(i) If any Default or Event of Default has
occurred and is continuing or (ii) if any Holder seeks to exercise any remedy under this Indenture with respect to a claimed Default under this Indenture or the Notes, the Issuer shall deliver to the Trustee, at its address set forth in
Section 12.2 hereof, by registered or certified mail or by facsimile transmission followed by hard copy by registered or certified mail an Officer’s Certificate specifying such event, notice or other action within 30 days of the
occurrence thereof. 
 Section 4.7 Compliance with Laws. The Issuer shall comply, and shall cause each of its Restricted
Subsidiaries to comply, with all applicable statutes, rules, regulations, orders and restrictions of the United States of America, all states and municipalities thereof, and of any governmental department, commission, board, regulatory authority,
bureau, agency and instrumentality of the foregoing, in respect of the conduct of its respective businesses and the ownership of its respective properties, except for such noncompliances as could not singly or in the aggregate reasonably be expected
to have a material adverse effect on the financial condition or results of operations of the Issuer and the Restricted Subsidiaries taken as a whole. 
 Section 4.8 Reports to Holders. The Issuer shall comply with the reporting obligations set forth under Section 314(a) of the TIA. 

Section 4.9 Waiver of Stay, Extension or Usury Laws. The Issuer covenants (to the extent that it may lawfully do so) that it will
not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Issuer from paying all or any portion of the
principal of or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the 

  
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covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) the Issuer hereby expressly waives all benefit or advantage of any such law, and covenants that it
will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

Section 4.10 Limitation on Restricted Payments. The Issuer will not, and will not permit any of its Restricted Subsidiaries to,
directly or indirectly: 
 (1) declare or pay any dividend or make any payment or distribution on or in respect
of the Issuer’s Capital Stock (including any payment or distribution in connection with any merger or consolidation involving the Issuer or any of its Restricted Subsidiaries) except: 

(a) dividends or distributions by the Issuer payable solely in Capital Stock of the Issuer (other than Disqualified Stock)
or in options, warrants or other rights to purchase such Capital Stock of the Issuer; and 
 (b) dividends or
distributions payable to the Issuer or a Restricted Subsidiary and if such Restricted Subsidiary is not a Wholly Owned Subsidiary, to minority shareholders (or owners of an equivalent interest in the case of a Subsidiary that is an entity other than
a corporation) so long as the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution; 
 (2) purchase, redeem, defease, retire or otherwise acquire for value any Capital Stock of the Issuer or any direct or indirect parent of the Issuer held by Persons other than the Issuer or a Restricted
Subsidiary (other than in exchange for Capital Stock of the Issuer (other than Disqualified Stock)); 
 (3)
purchase, repurchase, redeem, defease or otherwise acquire or retire for value, the principal amount (including, without limitation, any accreted principal amount, interest paid in kind or accreted interest) of any Subordinated Obligations, except a
payment of interest or principal at the Stated Maturity thereof (excluding (a) any intercompany Indebtedness between or among the Issuer and any of its Restricted Subsidiaries or (b) the purchase, repurchase or other acquisition of
Subordinated Obligations purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such purchase, repurchase or other acquisition); 

(4) pay any dividend or distribution on any Capital Stock of any Restricted Subsidiary to any Person (other than
(a) to the Issuer or any of its Wholly Owned Subsidiaries or (b) dividends or distributions made by a Restricted Subsidiary on a pro rata basis to all Holders of such Capital Stock of such Restricted Subsidiary); or 

  
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 (5) make any Restricted Investment in any Person; 

(any such dividend, distribution, purchase, redemption, repurchase, defeasance, other acquisition, retirement or Restricted Investment
referred to in clauses (1) through (5) shall be referred to herein as a “Restricted Payment”). 
 The provisions of
the preceding paragraph will not prohibit (so long as no Default or Event of Default has occurred and is continuing after giving effect to the relevant Restricted Payment, in the case of clause (a), (b), (c), (d) or (i) below): 

(a) Restricted Payments (i) made from the Net Cash Proceeds received by the Issuer from an issuance or sale of, Equity Interests
that are not Disqualified Stock; provided, however, that such Restricted Payment, when taken together with all prior Restricted Payments made under this item (i) since the Issue Date, shall not exceed the aggregate of such Net Cash
Proceeds received by the Issuer since the Issue Date or (ii) that are made through the substantially concurrent issuance by the Issuer of Equity Interests that are not Disqualified Stock in exchange for Capital Stock or Subordinated Obligations
of the Issuer; 
 (b) Restricted Payments of up to the Fair Market Value of any Contributed Asset received by the Issuer or a
Subsidiary of the Issuer since the Issue Date; provided, however, that (i) such Restricted Payment, when taken together with all prior Restricted Payments made with respect to such Contributed Asset under this clause (b), shall
not exceed the Fair Market Value of such Contributed Asset, and (ii) if such Restricted Payment is an Upstream Restricted Payment, such Restricted Payment, when taken together with all prior Upstream Restricted Payments made with respect to
such Contributed Asset, shall not exceed the aggregate amount of Contributed Asset Cash received by the Issuer or a Subsidiary of the Issuer from such Contributed Asset since the date of acquisition of such Contributed Asset; 

(c) [RESERVED]; 

(d) [RESERVED]; 

(e) dividends paid or distributions made within 60 days after the date of declaration if at such date of declaration such dividend or
distribution would have complied with this Section 4.10; provided, however, that for purposes of clarification, this clause (e) shall not include cash payments in lieu of the issuance of fractional shares included in
clause (h) below; 
 (f) repurchases, redemptions or other acquisitions or retirements for value of Capital Stock deemed to
occur upon the exercise of stock options, warrants, rights to acquire Capital Stock or other convertible securities if such Capital Stock represents a portion of the exercise or exchange price thereof, and any repurchases, redemptions or other
acquisitions or retirements for value of Capital Stock made in lieu of withholding taxes in connection with any exercise or exchange of warrants, options or rights to acquire Capital Stock or vesting of restricted Capital Stock; 

  
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 (g) payments or distributions to dissenting shareholders pursuant to applicable law or in
connection with the settlement or other satisfaction of legal claims made pursuant to or in connection with a consolidation, merger or transfer of assets; provided, however, that any payment pursuant to this clause (g) shall be included
in the calculation of the amount of Restricted Payments; 
 (h) cash payments in lieu of the issuance of fractional shares;
provided, however, that any payment pursuant to this clause (h) shall be excluded in the calculation of the amount of Restricted Payments; and 
 (i) the declaration and payment of dividends or distributions to holders of the Issuer’s 9.25% Series B Cumulative Preferred Stock in accordance with the terms thereof in effect on the Issue Date;
provided, however, that for purposes of clarification, this clause (i) shall not include cash payments in lieu of the issuance of fractional shares included in clause (h) above. 

The amount of all Restricted Payments (other than cash) shall be the Fair Market Value on the date of such Restricted Payment of the
asset(s) or securities proposed to be paid, transferred or issued by the Issuer or such Restricted Subsidiary, as the case may be, pursuant to such Restricted Payment. Not later than the date of making any Restricted Payment, the Issuer shall
deliver to the Trustee an Officer’s Certificate stating that such Restricted Payment is permitted and setting forth the basis upon which the calculations required by this Section 4.10 were computed, together with a copy of any
fairness opinion or appraisal required by this Indenture. 
 For the avoidance of doubt, the Issuer and its Restricted
Subsidiaries shall not directly or indirectly make any Upstream Restricted Payment by means of Investments. 
 The Issuer will
not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the definition of “Unrestricted Subsidiary.” For the purpose of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all
outstanding Investments by the Issuer and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated will be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition
of “Investment.” Such designation will be permitted only if a Restricted Payment in such amount would be permitted at such time under this Indenture and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary.
Unrestricted Subsidiaries will not be subject to any of the restrictive covenants set forth in this Indenture. 
 Section 4.11
Payments for Consents. Neither the Issuer nor any of its Restricted Subsidiaries will, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fees or otherwise, to any Holder for or as an inducement to
any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Notes, unless such consideration is offered to be paid or is paid to all Holders that consent, waive or agree to amend in the time frame set forth in the
solicitation documents relating to such consent, waiver or amendment. 

  
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 Section 4.12 Change of Control. If a Change of Control occurs at a time when there
are no 2017 Notes outstanding, unless the Issuer has previously or concurrently exercised its right to redeem all of the Notes pursuant to Section 3.3, each Holder will have the right to require the Issuer to repurchase all or any part
(equal to $1,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a purchase price in cash equal to 101% of the principal amount of the Notes repurchased plus accrued and unpaid interest, if any, to the date of
purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). 
 Within 30 days following any Change of Control, unless the Issuer has previously or concurrently exercised its right to redeem all of the Notes pursuant to Section 3.3, the Issuer will mail a
notice (the “Change of Control Offer”) to each Holder, with a copy to the Trustee, stating: 

(1) that a Change of Control has occurred and that such Holder has the right to require the Issuer to purchase such
Holder’s Notes at a purchase price in cash equal to 101% of the principal amount of such Notes plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of record on a record date to receive interest on
the relevant Interest Payment Date) (the “Change of Control Payment”); 
 (2) the repurchase
date (which shall be no earlier than 30 days nor later than 60 days from the date the Change of Control Offer is mailed) (the “Change of Control Payment Date”); 

(3) that any Note not properly tendered will remain outstanding and continue to accrue interest; 

(4) that unless the Issuer defaults in the payment of the Change of Control Payment, all Notes accepted for payment
pursuant to the Change of Control Offer will cease to accrue interest on the Change of Control Payment Date; 

(5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender
such Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed, to the paying agent specified in the Change of Control Offer at the address specified in the Change of Control Offer prior to
the close of business on the third Business Day preceding the Change of Control Payment Date; 
 (6) that
Holders will be entitled to withdraw their tendered Notes and their election to require the Issuer to purchase such Notes, provided that the paying agent receives, not later than the close of business on the 30th day following the date of the
Change of Control Offer, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes tendered for purchase, and a statement that such Holder is withdrawing its tendered Notes and its
election to have such Notes purchased; 

  
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 (7) that if the Issuer is redeeming less than all of the Notes, the Holders
of the remaining Notes will be issued new Notes and such new Notes will be equal in principal amount to the unpurchased portion of the Notes surrendered; provided that the unpurchased portion of the Notes must be equal to $1,000 or an
integral multiple of $1,000 in excess thereof; and 
 (8) the procedures determined by the Issuer, consistent
with this Indenture, that a Holder must follow in order to have its Notes repurchased. 
 On the Change of Control Payment Date,
the Issuer will, to the extent lawful: 
 (1) accept for payment all Notes or portions of Notes (of at least
$1,000 or an integral multiple of $1,000 in excess thereof) properly tendered pursuant to the Change of Control Offer; 
 (2) deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered and not properly withdrawn; and 

(3) deliver or cause to be delivered to the Trustee the Notes so accepted together with an Officer’s Certificate
stating the aggregate principal amount of Notes or portions of Notes being purchased by the Issuer. 
 The paying agent will
promptly mail or wire transfer to each Holder properly tendered and not properly withdrawn the Change of Control Payment for such Notes (or, if all of the Notes are then in global form, make such payment through the facilities of DTC), and the
Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note will be
in a principal amount of $1,000 or an integral multiple of $1,000 in excess thereof. 
 If the Change of Control Payment Date is
on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no further
interest will be payable to Holders who tender pursuant to the Change of Control Offer. 
 The Change of Control provisions
described above will apply whether or not any other provisions of this Indenture apply. Except as described above with respect to a Change of Control, this Indenture does not contain provisions that permit the Holders to require that the Issuer
repurchase or redeem the Notes in the event of a takeover, recapitalization or similar transaction. 

  
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 The Issuer will not be required to make a Change of Control Offer upon a Change of Control
if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly
tendered and not withdrawn under such Change of Control Offer. 
 A Change of Control Offer may be made in advance of a Change
of Control, and conditioned upon the occurrence of a Change of Control, if a definitive agreement is in place for the Change of Control at the time of making the Change of Control Offer. 

The Issuer will comply, to the extent applicable, with the requirements of Rule 14e-1 of the Exchange Act and any other securities
laws or regulations in connection with the repurchase of Notes as a result of a Change of Control. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Indenture, or compliance with the Change of
Control provisions of this Indenture would constitute a violation of any such laws or regulations, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations described in this
Indenture by virtue of its compliance with such securities laws or regulations. 
 Section 4.13 Limitation on Sales of
Assets and Subsidiary Stock and Collateral Dispositions. 
 (a) The Issuer will not, and will not permit any
of its Restricted Subsidiaries to, make any Asset Disposition unless the Issuer or such Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Disposition at least equal to the Fair Market Value (such Fair Market
Value to be determined on the date of contractually agreeing to such Asset Disposition), of the shares and assets subject to such Asset Disposition. 
 (b) The Issuer will not , and will not permit any of its Restricted Subsidiaries to, make any Asset Disposition of the CVS Collateral or the Initial Niobrara Collateral unless: 

(1) 100% of the consideration received by the Issuer or such Restricted Subsidiary, as the case may be, from such Asset
Disposition is in the form of cash or Cash Equivalents, or any combination thereof; 
 (2) an amount equal to
100% of the Net Available Cash from such Asset Disposition is applied within 365 days after receipt thereof; 

(i) to invest in Additional Assets used or to be used in Permitted Business Activities (but not to acquire additional
acreage) in respect of Existing Properties; or 

  
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 (ii) to repurchase or retire all or a portion of the notes of any series of
Convertible Notes at a discount (an “Initial Asset Proceeds Repurchase”), so long as the aggregate amount of Net Available Cash applied in Initial Asset Sale Proceeds Repurchases and Bakken Proceeds Repurchases and from the proceeds
of an Excluded VPP does not exceed $10.0 million since the Issue Date; and 
 (3) to the extent 100% of the Net
Available Cash from such Asset Disposition has not been applied in accordance with clause (2) above, such Net Available Cash shall be deemed to be “Excess Proceeds”, which shall be applied as specified in paragraph (f) below.

 (c) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, make any Asset Disposition of the Bakken
Collateral unless: 
 (1) 100% of the consideration received by the Issuer or such Restricted Subsidiary, as the
case may be, from such Asset Disposition is in the form of cash or Cash Equivalents, or any combination thereof; 
 (2) an amount equal to 50% of the Net Available Cash from such Asset Disposition (the “Initial Bakken Proceeds”) shall be deemed, immediately upon receipt by the Issuer or any Restricted
Subsidiary, to be “Excess Proceeds”, which shall be applied within 30 days after receipt thereof to make an Asset Disposition Offer in accordance with paragraph (f) below; 

(3) an amount equal to the remaining Net Available Cash from such Asset Disposition other than the Initial Bakken
Proceeds (the “Remaining Bakken Proceeds”) is applied within 365 days after receipt thereof: 

(i) to invest in Additional Assets used or to be used in Permitted Business Activities (but not to acquire additional
acreage) in respect of Existing Properties; or 
 (ii) to repurchase or retire all or a portion of the notes of
any series of Convertible Notes at a discount (a “Bakken Proceeds Repurchase”), so long as the aggregate amount of Net Available Cash applied in Initial Asset Sale Proceeds Repurchases and Bakken Proceeds Repurchases and from the
proceeds of an Excluded VPP does not exceed $10.0 million since the Issue Date; and 
 (4) to the extent the
Remaining Bakken Proceeds from such Asset Disposition have not been applied in accordance with clause (3) immediately above, such Remaining Bakken Proceeds shall be deemed to be “Excess Proceeds”, which shall be applied as specified
in paragraph (f) below. 

  
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 (d) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, make any
Asset Disposition of any assets other than the CVS Collateral, the Initial Niobrara Collateral or the Bakken Collateral unless: 
 (1) 75% of the consideration received by the Issuer or such Restricted Subsidiary, as the case may be, from such Asset Disposition is in the form of cash or Cash Equivalents, or any combination thereof;

 (2) an amount equal to 75% of the Net Available Cash from such Asset Disposition (the “Initial Asset
Disposition Proceeds”) shall be deemed, immediately upon receipt by the Issuer or any Restricted Subsidiary, to be “Excess Proceeds”, which shall be applied within 30 days after receipt thereof to make an Asset Disposition Offer
in accordance with paragraph (f) below; 
 (3) an amount equal the remaining Net Available Cash from such
Asset Disposition other than the Initial Asset Disposition Proceeds (the “Remaining Asset Disposition Proceeds”) is applied within 365 days after receipt thereof: 

(i) to invest in Additional Assets used or to be used in Permitted Business Activities (but not to acquire additional
acreage) in respect of Existing Properties; or 
 (ii) to permanently prepay, repay, redeem or purchase
Indebtedness of the Issuer under a Permitted Letter of Credit Facility or any other Indebtedness of the Issuer or a Restricted Subsidiary (other than Subordinated Obligations, or Indebtedness owed to the Issuer or any of its Affiliates); and

 (4) to the extent the Remaining Asset Disposition Proceeds from such Asset Disposition have not been applied
in accordance with clause (3) immediately above, such Remaining Asset Disposition Proceeds shall be deemed to be “Excess Proceeds”, which shall be applied as specified in paragraph (f) below. 

(e) Any Net Available Cash from a Casualty or Condemnation Event with respect to any Collateral shall be applied as if such Collateral
were part of the CVS Collateral and subject to an Asset Disposition, as provided in clauses (2)(i) and (3) of paragraph (b) above. 
 (f) When the aggregate amount of Excess Proceeds exceeds $10.0 million and there are no 2017 Notes outstanding, the Issuer shall make an offer (an “Asset Disposition Offer”) to all
Holders of Notes and to the holders of any Permitted Additional Pari Passu Obligations containing provisions similar to those set forth in this Indenture with respect to asset dispositions to purchase the maximum principal amount of Notes and
Permitted Additional Pari Passu Obligations (plus all accrued interest and the amount of all fees and expenses, including premiums, incurred in connection therewith) that may be purchased out of the Excess Proceeds. The offer price in any Asset
Disposition Offer will be equal to 103% of the principal amount, plus accrued and unpaid interest to, but not including the date of purchase, and will be payable in cash. If the aggregate principal amount of Notes and Permitted Additional Pari Passu
Obligations 

  
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tendered into such Net Proceeds Offer exceeds the amount of Excess Proceeds, the Trustee will select the Notes and Permitted Additional Pari Passu Obligations on a pro rata basis with such
adjustments as may be needed so that only Notes in minimum amounts of $1,000 and integral multiples of $1,000 will be purchased. Upon completion of each Asset Disposition Offer, the amount of Excess Proceeds will be reset at zero (and to the extent
such Excess Proceeds are held in the Collateral Proceeds Account, such Net Proceeds shall be released to the Issuer). 
 (g) Any
Net Available Cash received in an Asset Disposition that are to be applied pursuant to paragraph (c)(2) or (d)(2) above shall be held in the Collateral Proceeds Account. Any other Net Available Cash received in an Asset Disposition or Casualty or
Condemnation Event shall be held in a deposit account that is subject to a perfected Note Lien. Any assets acquired with Net Available Cash from an Asset Disposition or Casualty or Condemnation Event in respect of Collateral shall be pledged by the
Issuer as Collateral to secure the Note Obligations under a Note Lien. To the extent that the aggregate amount of Notes validly tendered and not properly withdrawn pursuant to an Asset Disposition Offer is less than the amount of Excess Proceeds,
the Issuer may use any remaining Excess Proceeds for general corporate purposes, subject to the other covenants contained in this Indenture; provided that, to the extent such Excess Proceeds were generated from an Asset Disposition or
Casualty or Condemnation Event with respect to CVS Collateral, Initial Niobrara Collateral or producing Oil and Gas Properties, such remaining Excess Proceeds may only be used for Permitted Business Activities in respect of Existing Properties or
Oil and Gas Properties in the basins in which the Existing Properties are located. Upon completion of such Asset Disposition Offer, the amount of Excess Proceeds shall be reset at zero. 

(h) The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with each repurchase of Notes pursuant to an Asset Disposition Offer. To the extent that the provisions of any securities laws or regulations conflict with the Asset
Disposition Offer provisions of this Indenture, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Asset Disposition Offer provisions of this Indenture by
virtue of such compliance. 
 (i) For purposes of the covenant described above (x) any Additional Notes shall be deemed to
be Notes and not Permitted Additional Pari Passu Obligations and (y) the Net Available Cash attributable to the sale of Collateral consisting of Equity Interests of a Person that is not a Restricted Subsidiary shall be deemed to be equal to the
equity value of such Equity Interests. 
 (j) For the purposes of clause (1) of paragraphs (b), (c) and (d) of
this Section 4.13, the following will be deemed to be cash or Cash Equivalents: 
 (1) the assumption
by the transferee of Indebtedness of the Issuer or Indebtedness of a Restricted Subsidiary (other than Subordinated Obligations) and the release of the Issuer or such Restricted Subsidiary from all

  
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liability on such Indebtedness in connection with such Asset Disposition, in which case such amount of Indebtedness shall not be deemed to be Net Available Cash for purposes of this
Section 4.13; and 
 (2) the amount of securities, notes or other obligations received by the Issuer
or any Restricted Subsidiary from the transferee that are converted by the Issuer or such Restricted Subsidiary into cash within 90 days after receipt thereof (to the extent of the cash actually so received). 

(k) Any proceeds from an Excluded VPP shall be reinvested in Additional Assets used or to be used in Permitted Business Activities
(i) in respect of Existing Properties, (ii) in respect of other producing Oil and Gas Properties being acquired or acquired by the Issuer or a Restricted Subsidiary (but, in either case, not to acquire additional acreage) or (iii) as
provided in clauses (b)(2)(ii) and (c)(3)(ii) above. 
 (l) Any joint venture or similar transaction entered into by
the Issuer or any Restricted Subsidiary in respect of the Bakken Collateral must be a Permitted Bakken Joint Venture. 

Section 4.14 Liens . The Issuer will not, and will not permit any Restricted Subsidiary to, directly or indirectly, create,
Incur, assume or suffer to exist any Lien (except Permitted Liens) that secures any Indebtedness on any asset or property of the Issuer or such Restricted Subsidiary. 
 Section 4.14 Impairment of Security Interest; Liens on Additional Property. The Issuer shall not take or omit to take any action that would adversely affect or impair in any material respect
the Note Liens in favor of the Collateral Agent with respect to the Collateral, except as otherwise permitted or required by the Security Documents, the Intercreditor Agreement or this Indenture. The Issuer shall not enter into any agreement that
requires the proceeds received from any sale of Collateral to be applied to repay, redeem, defease or otherwise acquire or retire any Indebtedness of any Person, other than the Notes or other Indebtedness. The Issuer shall, at its sole cost and
expense, execute and deliver all such agreements and instruments as the Collateral Agent or the Trustee shall reasonably request to more fully or accurately describe the property intended to be Collateral or the Note Obligations intended to be
secured. The Issuer shall, at its sole cost and expense, file any such notice filings or other agreements or instruments as may be reasonably necessary or desirable under applicable law to perfect the Note Liens at such times and at such places as
the Collateral Agent or the Trustee may reasonably request. 
 The Issuer will deliver to the Trustee the Reserve Report and an
Officer’s Certificate not later than April 1 in each calendar year while the Notes are outstanding certifying that the Collateral includes Oil and Gas Properties representing 100% of the total PV-10 Value of the Issuer’s proved Oil
and Gas Properties located in the United States as reflected in the most recent available annual Reserve Report (which shall use pricing assumptions consistent with SEC guidelines), or to the extent such Oil and Gas Properties represent less than
such percentage, certify that it will promptly put in place 

  
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Note Liens sufficient to increase such percentage to 100% with the Issuer using reasonable commercial efforts to correct any shortfall within 90 days. To the extent that any Oil and Gas
Properties constituting Collateral are released from the Note Liens and are then assigned to Persons other than the Issuer, any reserves attributable to such Oil and Gas Properties shall be deemed excluded from such Reserve Report for the purpose of
determining whether such 100% requirement is met after giving effect to such release. 
 At or prior to the time that the Issuer
is required to deliver to the Trustee an Officer’s Certificate in compliance with the preceding paragraph, the Issuer will deliver: 
 (a) to the Collateral Agent, as mortgagee, fully executed counterparts of Mortgages or amendments and supplements to existing Mortgages, duly executed by the Issuer, in form and substance reasonably
satisfactory to the Collateral Agent (together with evidence of the completion, or satisfactory arrangements for the completion, of all recordings and filings of such instruments) as may be necessary to create a valid, perfected Note Lien (subject
to no Lien other than Permitted Liens) on such Oil and Gas Properties, as may be required in order to make the certification in such Officer’s Certificate true and correct; and 

(b) such legal opinions concerning the authorization, execution and delivery of such Mortgages, amendments or supplements, and the
enforceability and recording thereof, as are reasonably satisfactory to the Collateral Agent. 
 ARTICLE V

 SUCCESSOR CORPORATION 
 Section 4.15 Merger, Consolidation and Sale of Assets. (a) The Issuer will not consolidate with or merge with or into or wind up into (whether or not the Issuer is the surviving
corporation), or convey, transfer or lease all or substantially all its assets in one or more related transactions to, any Person, unless: 
 (1) the resulting, surviving or transferee Person (the “Successor Issuer”) will be a corporation, partnership, trust or limited liability company organized and existing under the laws of
the United States of America, any State of the United States of America or the District of Columbia and the Successor Issuer (if not the Issuer) will expressly assume by supplemental indenture, executed and delivered to the Trustee, in form
reasonably satisfactory to the Trustee, all the obligations of the Issuer under the Note Documents, and the Successor Issuer shall cause such amendments, supplements or other instruments to be executed, filed and recorded in such jurisdiction as may
be required by applicable law to preserve and protect the Note Lien on the Collateral pledged by or transferred to such Person, together with the financing statements and comparable documents as may be required to perfect any security interests in
such Collateral, which may be perfected by the filing of a financing statement or a similar document under the UCC or other similar statute or regulation of the 

  
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relevant states or jurisdictions, in each case in a form reasonably satisfactory to the Trustee; provided, that if the Successor Issuer is not a corporation, such Successor Issuer shall
form a corporate co-issuer for the Notes, which shall assume all Note Obligations of the Issuer; 
 (2)
immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the Successor Issuer or any Subsidiary of the Successor Issuer as a result of such transaction as having been Incurred by the Successor
Issuer or such Subsidiary at the time of such transaction), no Default shall have occurred and be continuing; and 
 (3) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, winding up, conveyance, transfer or lease and such
supplemental indenture (if any) comply with this Indenture. 
 (b) For purposes of this Section 5.1, the sale,
lease, conveyance, assignment, transfer or other disposition of all or substantially all of the properties and assets of one or more Subsidiaries of the Issuer, which properties and assets, if held by the Issuer instead of such Subsidiaries, would
constitute all or substantially all of the properties and assets of the Issuer on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Issuer. 

(c) any Restricted Subsidiary may consolidate with, merge into or transfer all or part of its properties and assets to, the Issuer and
the Issuer may consolidate with, merge into or transfer all or part of its properties and assets to, a Wholly Owned Subsidiary, and the Issuer may merge with an Affiliate incorporated solely for the purpose of reincorporating the Issuer in another
jurisdiction; provided that, in the case of a Restricted Subsidiary that consolidates with, merges into or transfers all or part of its properties and assets to, the Issuer, the Issuer will not be required to comply with the preceding clause
(3). 
 Section 5.2 Successor Entity Substituted. Upon any consolidation, combination or merger or any transfer of all or
substantially all of the assets of the Issuer in accordance with Section 5.1, in which such Issuer is not the continuing entity, the successor Person formed by such consolidation or into which such Issuer is merged or to which such
conveyance, lease or transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, such Issuer under this Indenture, the Notes, the Intercreditor Agreement and the Security Documents with the same effect as if
such surviving entity had been named as such, and the predecessor Person, except in the case of a lease of all or substantially all its assets, will be released from the obligation to pay the principal of and interest on the Notes. 

  
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 ARTICLE VI 

REMEDIES 

Section 6.1 Events of Default. An “Event of Default” means any of the following events: 

(1) default in any payment of interest on any Note when due, continued for 30 days; 

(2) default in the payment of principal of any Note when due at its Stated Maturity, upon optional redemption, upon
required repurchase, upon declaration of acceleration or otherwise; 
 (3) failure by the Issuer to comply with
its obligations under Section 5.1; 
 (4) failure by the Issuer to comply within 30 days after
notice as provided below with any of its obligations under Sections 4.9, 4.10, 4.12, 4.13, 4.14 or 4.15 above (in each case, other than a failure to purchase Notes that will constitute an Event of
Default under clause (2) above and other than a failure to comply with Article V, which is covered by clause (3) above); 
 (5) failure by the Issuer or any Restricted Subsidiary to comply within 60 days after notice as provided below with any other covenants in the Note Documents; 

(6) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured
or evidenced any Indebtedness for money borrowed by the Issuer or any of its Restricted Subsidiaries (or the payment of which is Guaranteed by the Issuer or any of its Restricted Subsidiaries), other than Indebtedness owed to the Issuer or a
Restricted Subsidiary, whether such Indebtedness or Guarantee now exists, or is created after the date of this Indenture, which default: 
 (a) is caused by a failure to pay principal of, or interest or premium, if any, on, such Indebtedness prior to the expiration of the grace period provided in such Indebtedness (and any extensions of any
grace period) (“Payment Default”); or 
 (b) results in the acceleration of such Indebtedness
prior to its maturity; 
 and, in each case, the principal amount of any such Indebtedness, together with the principal amount
of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $10.0 million or more; 

  
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 (7)(a) the Issuer or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries of the Issuer that, taken together, would constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law: (i) commences a voluntary case, application,
petition, compromise, voluntary arrangement, scheme of arrangement, moratorium, liquidation, administration, or receivership or other proceeding, (ii) consents to the entry of an order for relief against it in an involuntary case, application,
petition or other proceeding, (iii) consents to the appointment of a custodian, receiver, receiver-manager, administrative receiver, administrator or liquidator of it or for all or substantially all of its property, (iv) makes a general
assignment for the benefit of its creditors or a moratorium or similar arrangement is declared or instituted with its creditors, (v) generally is not paying its debts as they become due; or admits in writing its inability to pay its debts as
such debts become due or its directors or other officers request the appointment of, or give notice of their intention to appoint, a receiver, receiver manager, administrative receiver, administrator, liquidator or other officer having similar
powers over its property, or (vi) is deemed for the purposes of any applicable law to be unable to pay its debts as they fall due; or 
 (b) a court of competent jurisdiction enters an order or decree (which order or decree remains unstayed and in effect for more than 60 consecutive days) under any Bankruptcy Law that: (i) is for
relief against the Issuer or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Issuer that, taken together, would constitute a Significant Subsidiary in an involuntary case,
application, petition or other proceeding; (ii) appoints a custodian, receiver, receiver-manager, administrative receiver, administrator, liquidator, or other similar officer of the Issuer or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries of the Issuer that, taken together, would constitute a Significant Subsidiary or for all or substantially all of the property of the Issuer or any of its Restricted Subsidiaries that is
a Significant Subsidiary or any group of Restricted Subsidiaries of the Issuer that, taken together, would constitute a Significant Subsidiary; or (iii) orders the liquidation, administration or receivership of the Issuer or any of its
Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Issuer that, taken together, would constitute a Significant Subsidiary; 

(8) failure by the Issuer or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of
the latest audited consolidated financial statements for the Issuer and its Restricted Subsidiaries), would constitute a Significant Subsidiary to pay final judgments aggregating in excess of $10.0 million (to the extent not covered by insurance by
a reputable and creditworthy insurer as to which the insurer has not disclaimed coverage), which judgments are not paid or discharged, and there shall be any period of 60 consecutive days following entry of such final judgment or decree during which
a stay of enforcement of such final judgment or decree, by reason of pending appeal or otherwise, shall not be in effect; or 

  
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 (9) as long as Security Documents have not been otherwise terminated in
accordance with their terms and the Collateral as a whole has not been released from the Note Liens in accordance with the terms thereof, with respect to Collateral having a Fair Market Value in excess of $5.0 million individually or in the
aggregate, the security interests under any Security Document or any Note Lien purported to be created or granted thereby is held in any judicial proceeding to be unenforceable or invalid, in whole or part, or ceases for any reason (other than
pursuant to a release that is delivered or becomes effective as set forth in this Indenture or any Security Documents) to be fully enforceable and perfected. 
 However, a default under clause (4) or clause (5) of this paragraph will not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal amount of the
outstanding Notes notify the Issuer in writing and, in the case of a notice given by the Holders, the Trustee of the default and the Issuer does not cure such default within the time specified in clause (4) or clause (5), respectively, of this
paragraph after receipt of such notice. 
 Section 6.2 Acceleration. 

(a) If an Event of Default (other than an Event of Default described in clause (7) of Section 6.1 above) occurs and is
continuing, the Trustee may in its sole discretion or upon request of the Holders of at least 25% in principal amount of the outstanding Notes by notice to the Trustee, shall on behalf of the Holders, by notice to the Issuer, declare the principal
of and accrued and unpaid interest on all the Notes to be due and payable. If an Event of Default described in clause (7) of Section 6.1 above occurs and is continuing, the principal of and accrued and unpaid interest on all the
Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Collateral Agent, acting at the instruction of the Holders of a majority in principal amount of the Notes, in
accordance with the provisions of this Indenture, the Security Documents and the Intercreditor Agreement, will determine the time and method by which the security interests in the Collateral will be enforced and, if applicable, will distribute
proceeds (after payment of the costs of enforcement and Collateral administration) of the Collateral received by it under the Security Documents for the ratable benefit of the Holders of the Notes. The Holders of a majority in principal amount of
the outstanding Notes may waive all past defaults (except with respect to nonpayment of principal or interest) and rescind any such acceleration with respect to the Notes and its consequences if (1) rescission would not conflict with any
judgment or decree of a court of competent jurisdiction and (2) all existing Events of Default, other than the nonpayment of the principal of and interest on the Notes that have become due solely by such declaration of acceleration, have been
cured or waived. 
 (b) If the Notes are accelerated or otherwise become due prior to the Maturity Date as a result of an Event
of Default, the principal of and the accrued and unpaid interest on the Notes shall be due and payable. 

  
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 Section 6.3 Other Remedies. If an Event of Default occurs and is continuing, the
Trustee, subject to the provisions of this Indenture and the Intercreditor Agreement, may pursue any available remedy by proceeding at law or in equity to collect the payment of the principal of or interest on the Notes or to enforce the performance
of any provision of the Notes or this Indenture. 
 All rights of action and claims under this Indenture or the Notes may be
enforced by the Trustee even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not
impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative to the extent permitted by law. 

Section 6.4 Waiver of Past Defaults. At any time prior to the declaration of acceleration of the Notes, the Holders of not less
than a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may, on behalf of the Holders of all the Notes, waive any existing Default or Event of Default and its consequences under this Indenture, except a
Default or Event of Default specified in Section 6.1(1) or (2) or in respect of any provision hereof which cannot be modified or amended without the consent of the Holder so affected pursuant to Section 9.2. When
a Default or Event of Default is so waived, it shall be deemed cured and shall cease to exist. This Section 6.4 shall be in lieu of § 316(a)(1)(B) of the TIA and such § 316(a)(1)(B) of the TIA is hereby expressly
excluded from this Indenture and the Notes, as permitted by the TIA. 
 Section 6.5 Control by Majority. Holders may not
enforce this Indenture or the Notes except as provided in this Article VI and under the TIA. The Holders of a majority in aggregate principal amount of the then outstanding Notes shall have the right to direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, provided, however, that the Trustee may refuse to follow any direction (a) that conflicts with any
rule of law or this Indenture, (b) that the Trustee reasonably determines may be unduly prejudicial to the rights of any other Holder, or (c) that may expose the Trustee to personal liability for which reasonable indemnity provided to the
Trustee against such liability shall be deemed inadequate by the Trustee; provided, further, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction or this
Indenture. This Section 6.5 shall be in lieu of § 316(a)(1)(A) of the TIA, and such § 316(a)(1)(A) of the TIA is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 

Section 6.6 Limitation on Suits. Subject to the provisions of this Indenture relating to the duties of the Trustee, if an Event of
Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity
satisfactory to it or security against any loss, liability or expense. Except to enforce the right to receive payment of principal or 

  
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interest when due, no Holder may pursue any remedy with respect to this Indenture or the Note Obligations unless (and subject to the provisions of the Intercreditor Agreement): 

(1) such Holder has previously given the Trustee notice that an Event of Default is continuing; 

(2) Holders of at least 25% in principal amount of the outstanding Notes have requested the Trustee to pursue the remedy;

 (3) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or
expense; 
 (4) the Trustee has not complied with such request within 60 days after the receipt of the request
and the offer of security or indemnity; and 
 (5) the Holders of a majority in principal amount of the
outstanding Notes have not waived such Event of Default or otherwise given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 

A Holder may not use this Indenture to prejudice the rights of any other Holders or to obtain priority or preference over other Holders.

 Section 6.7 Right of Holders To Receive Payment. Notwithstanding any other provision in this Indenture, the right of
any Holder of a Note to receive payment of the principal of and interest on such Note, on or after the respective due dates expressed or provided for in such Note, or to bring suit for the enforcement of any such payment on or after the respective
due dates, is absolute and unconditional and shall not be impaired or affected without the consent of the Holder. 
 Section 6.8
Collection Suit by Trustee. If an Event of Default specified in clause (1) or (2) of Section 6.1 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the
Issuer, or any other obligor on the Notes for the whole amount of the principal of and accrued interest remaining unpaid thereon, together with interest on overdue principal and, to the extent that payment of such interest is lawful, interest on
overdue installments of interest, in each case at the rate per annum provided for by the Notes and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel. 
 Section 6 . 9 Trustee May File Proofs of
Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents, counsel, accountants and experts) and the Holders allowed in any judicial proceedings relative to the Issuer or Restricted Subsidiaries (or any other obligor upon the Notes), their creditors or their property and shall be
entitled and empowered to collect and receive any monies 

  
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or other property payable or deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceedings is hereby authorized by each Holder to make such
payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agent and counsel, and any other amounts due the Trustee under Section 7.7. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 6.10 Priorities. If the Trustee collects any money pursuant to this Article VI it shall pay out such money in
the following order, all such pay outs being in accordance with the provisions of the Intercreditor Agreement: 
 First: to the
Trustee for amounts due under Section 7.7; 
 Second: to Holders for interest accrued on the Notes, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes for interest; 
 Third: to Holders for
the principal amounts owing under the Notes, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for the principal; and 
 Fourth: the balance, if any, to the Issuer. 
 The Trustee, upon prior written
notice to the Issuer, may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. 
 Section 6.11 Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee,
a court may in its discretion require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to any suit by the Trustee, any suit by a Holder pursuant to
Section 6.7, or a suit by a Holder or Holders of more than 10% in aggregate principal amount of the outstanding Notes. 
 Section 6.12 Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture or any Note and such proceeding has
been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case the Issuer, the Trustee and the Holders shall, subject to any determination in such proceeding, be restored
severally and respectively to their former positions under this Indenture, and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

  
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 Section 6.13 Intercreditor Agreement. For the avoidance of doubt, all exercises of
remedies by the Trustee pursuant to this Article VI and any actions by the Issuer with respect to the Collateral securing the Note Obligations shall be subject to the terms of any Intercreditor Agreement in existence at the time. 

ARTICLE VII 

TRUSTEE 

Section 7.1 Duties of Trustee. 
 (a) If an Event of Default has occurred, of which the Trustee is deemed to have notice, and is continuing, the Trustee may exercise such of the rights and powers vested in it by this Indenture and shall
use the same degree of care and skill in its exercise thereof as a prudent person would exercise or use in the conduct of his own affairs. 
 (b) Except during the continuance of an Event of Default: 
 (1) The
Trustee need perform only those duties as are specifically set forth in this Indenture and no covenants or obligations shall be implied in this Indenture that are adverse to the Trustee. The permissive right of the Trustee to do things enumerated in
this Indenture shall not be construed as a duty. 
 (2) In the absence of bad faith on its part, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such
certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture.

 (c) Notwithstanding anything to the contrary herein contained, the Trustee may not be relieved from liability for its own
negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (1) This
paragraph does not limit the effect of paragraph (b) of this Section 7.1. 
 (2) The Trustee
shall not be liable for any error of judgment made in good faith by a Trust Officer, unless it is conclusively determined by a court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts. 

  
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 (3) The Trustee shall not be liable with respect to any action it takes or
omits to take in good faith in accordance with a direction received by it pursuant to Section 6.2, 6.4 or 6.5. 
 (d) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties under this Indenture or in
the exercise of any of its rights or powers if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 

(e) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), (c) and (d) of
this Section 7.1 and Section 7.2. 
 (f) The Trustee shall not be liable for interest on any money or
assets received by it except as the Trustee may agree in writing with the Issuer. Assets held in trust by the Trustee need not be segregated from other assets except to the extent required by law. 

Section 7.2 Rights of Trustee. Subject to Section 7.1: 

(a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any document believed by it to
be genuine and to have been signed or presented by the proper Person or Persons or to have been prepared and furnished pursuant to any of the provisions of this Indenture; and the Trustee shall be under no duty to make any investigation as to any
statement contained in any such instance, but may accept the same conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. The Trustee need not investigate any fact or matter stated in the document.

 (b) Before the Trustee acts or refrains from acting, it may consult with counsel of its selection and may require an
Officer’s Certificate or an Opinion of Counsel, which shall conform to Sections 12.4 and 12.5. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such advice or such
Officer’s Certificate or Opinion of Counsel. 
 (c) The Trustee may act through attorneys, agents, custodians or nominees
and shall not be responsible for the misconduct or negligence of any attorney, agent, custodian or nominee appointed with due care. 
 (d) The Trustee shall not be liable for any action that it takes or omits to take in good faith which it reasonably believes to be authorized or within its rights or powers conferred upon it by this
Indenture. 
 (e) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, notice, request, direction, consent, order, bond, debenture, or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it
may see fit, and, if the Trustee shall determine to make such further 

  
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inquiry or investigation, it shall be entitled, upon reasonable notice to the Issuer, to examine the books, records, and premises of the Issuer, personally or by agent or attorney and to consult
with the officers and representatives of the Issuer, including the Issuer’s accountants and attorneys. 
 (f) The Trustee
shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the
Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which may be incurred by it in compliance with such request, order or direction. 

(g) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties under this
Indenture. 
 (h) Delivery of reports, information and other documents to the Trustee under Section 4.8 is for
informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with
any of its covenants under this Indenture (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 
 (i) Other than a consent revoked in accordance with Section 9.4, any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture upon the request or authority
or consent of any person who, at the time of making such request or giving such authority or consent, is a Holder shall be conclusive and binding upon every subsequent Holder of a Note or portion of a Note that evidences the same debt as the
requesting or consenting Holder’s Note. 
 Section 7.3 Individual Rights of Trustee. The Trustee in its individual
or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, any of its respective Subsidiaries, or its respective Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the
same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 
 Section 7.4
Trustee’s Disclaimer. The Trustee makes no representation as to the validity or adequacy of this Indenture or the Notes, and it shall not be accountable for the Issuer’s use of the proceeds from the Notes, and it shall not be
responsible for any statement of the Issuer in this Indenture or the Notes other than the Trustee’s certificate of authentication. 
 Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the Notes. In accepting the trust hereby created, the Trustee acts solely as Trustee for the
Holders and not in its individual capacity and all persons, including without limitation the Holders and the Issuer having any claim against the Trustee arising from this Indenture shall look only to the funds and accounts held by the Trustee
hereunder for payment except as otherwise provided herein. 

  
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 Section 7.5 Notice of Default. If a Default or an Event of Default occurs and is
continuing, of which the Trustee is deemed to have notice, the Trustee shall mail to each Holder notice of the uncured Default or Event of Default within 90 days after it occurs and becomes known to the Trustee. Except in the case of a Default or an
Event of Default in payment of principal of or interest on any Note, including an accelerated payment, a Default in payment on the Change of Control Payment Date pursuant to a Change of Control Offer or pursuant to an Asset Disposition Offer and a
Default in compliance with Article VI hereof, the Trustee may withhold the notice if and so long as its Board of Directors, the executive committee of its Board of Directors or a committee of its directors and/or Trust Officers in good
faith determines that withholding the notice is in the interest of the Holders. The foregoing sentence of this Section 7.5 shall be in lieu of the proviso to § 315(b) of the TIA and such proviso to § 315(b) of the TIA
is hereby expressly excluded from this Indenture and the Notes, as permitted by the TIA. 
 Section 7.6 Reports by Trustee to
Holders. Within 60 days after May 15 of each year beginning with May 15, 2012 and for so long as Notes remain outstanding, the Trustee shall, to the extent that any of the events described in TIA § 313(a) occurred within the
previous twelve months, but not otherwise, mail to each Holder a brief report dated as of such date that complies with TIA § 313(a). The Trustee also shall comply with TIA §§ 313(b), (c) and (d). 

A copy of each report at the time of its mailing to Holders shall be mailed to the Issuer. 

The Issuer shall promptly notify the Trustee if the Notes become listed on any stock exchange and the Trustee shall comply with TIA
§ 313(d). 
 Section 7.7 Compensation and Indemnity. The Issuer shall pay to the Trustee from time to time such
compensation for its services as has been agreed to in writing signed by the Issuer and the Trustee. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the
Trustee upon request for all reasonable out-of-pocket expenses incurred or made by it in connection with the performance of its duties under this Indenture. Such expenses shall include the reasonable fees and expenses of the Trustee’s agents,
counsel, accountants and experts. 
 The Issuer shall indemnify each of the Trustee (or any predecessor Trustee) and its agents,
employees, shareholders, Affiliates and directors and officers for, and hold them each harmless against, any and all loss, liability, damage, claim or expense (including reasonable fees and expenses of counsel), including taxes (other than taxes
based on the income of the Trustee) incurred by them except for such actions to the extent caused by any negligence, bad faith or willful misconduct on their part, arising out of or in connection with the acceptance or administration of this
Indenture including the reasonable costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of their rights, powers or duties under this Indenture. The Trustee shall notify the
Issuer promptly of any claim asserted against 

  
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the Trustee for which it may seek indemnity. At the Trustee’s sole discretion, the Issuer shall defend the claim and the Trustee shall cooperate and may participate in the defense;
provided, however, that any settlement of a claim shall be approved in writing by the Trustee if such settlement would result in an admission of liability by the Trustee or if such settlement would not be accompanied by a full release
of the Trustee for all liability arising out of the events giving rise to such claim. Alternatively, the Trustee may at its option have separate counsel of its own choosing and the Issuer shall pay the reasonable fees and expenses of such counsel.

 To secure the Issuer’s payment obligations in this Section 7.7, the Trustee shall have a Lien prior to the
Notes on all assets or money held or collected by the Trustee, in its capacity as Trustee, except assets or money held in trust to pay principal of or interest on particular Notes. 

When the Trustee incurs expenses or renders services after an Event of Default specified in clause (7) of Section 6.1
occurs, such expenses and the compensation for such services are intended to constitute expenses of administration under any Bankruptcy Law. 
 The provisions of this Section 7.7 shall survive the termination of this Indenture or the earlier resignation or removal of the Trustee. 

Section 7.8 Replacement of Trustee. The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in
principal amount of the outstanding Notes may remove the Trustee and appoint a successor Trustee with the Issuer’s consent, by so notifying the Issuer and the Trustee. The Issuer may remove the Trustee if: 

(1) the Trustee fails to comply with Section 7.10; 

(2) the Trustee is adjudged bankrupt or insolvent; 

(3) a receiver or other public officer takes charge of the Trustee or its property; or 

(4) the Trustee becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer shall notify each Holder of such event and shall promptly appoint a successor Trustee.
Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Immediately after
that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the
successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The Issuer shall mail notice of such successor Trustee’s appointment to each Holder. 

  
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 If a successor Trustee does not take office within 45 days after the retiring Trustee
resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in aggregate principal amount of the outstanding Notes may, at the expense of the Issuer, petition any court of competent jurisdiction for the appointment of a
successor Trustee. 
 If the Trustee fails to comply with Section 7.10, any Holder may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 Notwithstanding any
resignation or replacement of the Trustee pursuant to this Section 7.8, the Issuer’s obligations under Section 7.7 shall continue for the benefit of the retiring Trustee. 

Section 7.9 Successor Trustee by Merger, Etc. If the Trustee consolidates with, merges or converts into, or transfers all or
substantially all of its corporate trust business to, another corporation, the resulting, surviving or transferee corporation without any further act shall, if such resulting, surviving or transferee corporation is otherwise eligible under this
Indenture, be the successor Trustee; provided, however, that such corporation shall be otherwise qualified and eligible under this Article VII. 
 Section 7.10 Eligibility; Disqualification. This Indenture shall always have a Trustee who satisfies the requirement of TIA §§ 310(a)(1), (2) and (5). The Trustee (or, in the
case of a Trustee that is a corporation included in a bank holding company system, the related bank holding company) shall have a combined capital and surplus of at least $150.0 million as set forth in its most recent published annual report of
condition. In addition, if the Trustee is a corporation included in a bank holding company system, the Trustee, independently of such bank holding company, shall meet the capital requirements of TIA § 310(a)(2). The Trustee shall comply
with TIA § 310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities, or certificates of interest or participation in
other securities, of the Issuer are outstanding, if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. The provisions of TIA § 310 shall apply to the Issuer, as obligor of the Notes. 

Section 7.11 Preferential Collection of Claims Against the Issuer. The Trustee shall comply with TIA § 311(a), excluding
any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. The provisions of TIA § 311 shall apply to the Issuer, as
obligor on the Notes. 

  
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 Section 7.12 Force Majeure. In no event shall the Trustee be liable for any failure
or delay in the performance of its obligations under this Indenture because of circumstances beyond the Trustee’s control, including, but not limited to, acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, embargo,
government action, including any laws, ordinances, regulations, governmental action or the like which delay, restrict or prohibit the providing of the services contemplated by this Indenture. 

Section 7.13 Defaults and Events of Default. The Trustee shall not be required to take notice or be deemed to have notice of any
Default, except failure of the Issuer to cause to be made any of the payments required to be made to the Trustee, unless the Trustee shall be specifically notified by a writing of such Default by the Issuer or by the Holders of at least 25% in
aggregate principal amount of all Notes then outstanding delivered to the Corporate Trust Office of the Trustee and, in the absence of such notice so delivered, the Trustee may conclusively assume no Default exists. 

ARTICLE VIII 
 DISCHARGE OF INDENTURE; DEFEASANCE 
 Section 8.1 Termination of
Issuer’s Obligations. (a) This Indenture and the other Note Documents will be discharged and will cease to be of further effect (except as to surviving rights of registration of transfer or exchange of the Notes, as expressly provided
for in this Indenture) as to all outstanding Notes, and all Note Liens will be released, when (a) either (i) all the Notes theretofore authenticated (except lost, stolen or destroyed Notes that have been replaced or paid and Notes for
whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such trust) have been delivered to the Trustee for cancellation or (ii) all Notes
not theretofore delivered to the Trustee for cancellation have become due and payable or will become due and payable within one year by reason of the giving of a notice of redemption or otherwise and the Issuer has irrevocably deposited or caused to
be irrevocably deposited with the Trustee as trust funds in trust solely for such purpose, cash in U.S. dollars or U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient without consideration of any reinvestment
of interest, to pay and discharge the Note Obligations with respect to the Notes not theretofore delivered to the Trustee for cancellation, for principal of and accrued interest on the Notes to the date of maturity or redemption together with
irrevocable instructions from the Issuer directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; (b) the Issuer has paid all other sums payable under the Note Obligations by the Issuer;
and (c) the Issuer has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel stating that all conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied
with; provided, however, that such counsel may rely, as to matters of fact, on a certificate or certificates of officers of the Issuer. 
 (b) The Issuer may, at its option and at any time, elect to have its obligations discharged with respect to the Note Obligations and cause the release of all Note Liens (“Legal
Defeasance”). Such Legal Defeasance means that the Issuer shall be deemed to have paid and discharged the Note Obligations that are represented by the 

  
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outstanding Notes, and satisfied all of its Obligations with respect to the Notes, except for: (1) the rights of Holders to receive payments in respect of the principal of and interest on
the Notes when such payments are due, (2) the Issuer’s Obligations with respect to the Notes concerning issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency
for payments, (3) the rights, powers, trust, duties and immunities of the Trustee and the Issuer’s Obligations in connection therewith and (4) the Legal Defeasance provisions of this Section 8.1. In addition, the Issuer
may, at its option and at any time, elect to terminate its Note Obligations and cause the release of all Note Liens with respect to covenants contained in Sections 4.8, 4.10 through 4.15 and Article V and the
operation of clauses (6), (7) (with respect to Significant Subsidiaries), (8) and (10) of Section 6.1 and the limitations described in clause (2) of Section 5.1(a) and Section 5.1(c)
(“Covenant Defeasance”) and thereafter any omission to comply with such obligations shall not constitute a Default or Event of Default with respect to the Notes. The Issuer may exercise its Legal Defeasance option notwithstanding
its prior exercise of its Covenant Defeasance option. In the event of Legal Defeasance, payment of the Notes may not be accelerated because of an Event of Default with respect thereto. In the event of Covenant Defeasance, payment of the Notes may
not be accelerated because of an Event of Default specified in clause (4), (5), (6), (7) (with respect to Significant Subsidiaries), (8) or (10) of Section 6.1 or because of the failure of the Issuer to comply with clause
(2) of Section 5.1(a) and Section 5.1(c). 
 (c) In order to exercise either Legal Defeasance or
Covenant Defeasance: 
 (1) the Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders cash in United States dollars, non-callable U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the
principal of and interest on the Notes on the stated date for payment thereof or on the applicable Redemption Date, as the case may be; 
 (2) in the case of Legal Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel in the United States reasonably acceptable to the Trustee confirming that (a) the Issuer has
received from, or there has been published by, the Internal Revenue Service a ruling or (b) since the date of this Indenture, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon
such Opinion of Counsel shall confirm that, the Holders will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such Legal Defeasance had not occurred; 
 (3) in the case
of Covenant Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel in the United States reasonably acceptable to the Trustee confirming that the Holders will not recognize income, gain or loss for federal income tax
purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

  
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 (4) no Default or Event of Default, of which the Trustee is deemed to have
notice, shall have occurred and be continuing on the date of such deposit or insofar as Events of Default under Section 6.1(7)(a) or (b) from bankruptcy or insolvency events are concerned, at any time in the period ending on
the 91st day after the date of deposit; 
 (5) such Legal Defeasance or Covenant Defeasance shall not result in
a breach or violation of, or constitute a default under this Indenture or any other agreement or instrument to which the Issuer or any of its Restricted Subsidiaries is a party or by which the Issuer or any of its Restricted Subsidiaries is bound;

 (6) the Issuer shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was
not made by the Issuer with the intent of preferring the Holders over any other creditors of the Issuer or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Issuer or others; 

(7) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied with; provided, however, that such counsel may rely, as to matters of fact, on a
certificate or certificates of officers of the Issuer; and 
 (8) the Issuer shall have delivered to the Trustee
an Opinion of Counsel to the effect that after the 91st day following the deposit, the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally;
provided, however, that such counsel may rely, as to matters of fact, on a certificate or certificates of officers of the Issuer. 
 Section 8.2 Application of Trust Money. The Trustee or Paying Agent shall hold in trust U.S. Legal Tender or U.S. Government Obligations deposited with it pursuant to Section 8.1, and
shall apply the deposited U.S. Legal Tender and the money from U.S. Government Obligations in accordance with this Indenture to the payment of the principal of and interest on the Notes. The Trustee shall be under no obligation to invest said U.S.
Legal Tender or U.S. Government Obligations except as it may agree in writing with the Issuer. 
 The Issuer shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Legal Tender or U.S. Government Obligations deposited pursuant to Section 8.1 or the principal and interest received in respect thereof other
than any such tax, fee or other charge which by law is for the account of the Holders of outstanding Notes. 

  
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 Section 8.3 Repayment to the Issuer. Subject to Section 8.1, the Trustee
and the Paying Agent shall promptly pay to the Issuer upon request any excess U.S. Legal Tender or U.S. Government Obligations held by them at any time and thereupon shall be relieved from all liability with respect to such money. The Trustee and
the Paying Agent shall pay to the Issuer upon request any money held by them for the payment of principal or interest, that remains unclaimed for one year; provided, however, that the Trustee or such Paying Agent, before being required
to make any payment, may at the expense of the Issuer cause to be published once in a newspaper of general circulation in the City of New York or mail to each Holder entitled to such money notice that such money remains unclaimed and that after
a date specified therein that shall be at least 30 days from the date of such publication or mailing any unclaimed balance of such money then remaining will be repaid to the Issuer. After payment to the Issuer, Holders entitled to such money must
look to the Issuer for payment as general creditors unless an applicable law designates another Person. 
 Section 8.4
Reinstatement. If the Trustee or Paying Agent is unable to apply any U.S. Legal Tender or U.S. Government Obligations in accordance with Section 8.1 by reason of any legal proceeding or by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to
Section 8.1 until such time as the Trustee or Paying Agent is permitted to apply all such U.S. Legal Tender or U.S. Government Obligations, in accordance with Section 8.1; provided, however, that if the Issuer
has made any payment of interest on or principal of any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the U.S. Legal Tender or U.S.
Government Obligations held by the Trustee or Paying Agent. 
 Section 8.5 Acknowledgment of Discharge by Trustee. After
(i) the conditions of Section 8.1 have been satisfied, (ii) the Issuer has paid or caused to be paid all other sums payable under this Indenture by the Issuer and (iii) the Issuer has delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent referred to in clause (i) of this Section 8.5 relating to the satisfaction and discharge of this Indenture have been complied with, the
Trustee upon request shall acknowledge in writing the discharge of the Issuer’s obligations under this Indenture except for those surviving obligations specified in Section 8.1, provided the legal counsel delivering such
Opinion of Counsel may rely as to matters of fact on one or more Officer’s Certificates of the Issuer. 

  
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 ARTICLE IX 
 MODIFICATION OF THE INDENTURE 
 Section 9.1 Without Consent of
Holders. Without the consent of any Holder, the Issuer and the Trustee may amend the Note Documents to: 

(1) cure any ambiguity, omission, defect, mistake or inconsistency that does not adversely affect the Holders; 

(2) provide for the assumption by a successor entity of the Note Obligations; 

(3) provide for uncertificated Notes in addition to or in place of certificated Notes (provided that the
uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code); 

(4) add guarantees or other obligors with respect to the Notes; 

(5) expand the Collateral securing the Note Obligations pursuant to the Note Liens, and, in the case of the Security
Documents, to or for the benefit of the other secured parties named therein or to confirm and evidence the release, termination or discharge of any guarantee with respect to the Notes or Note Lien when such release, termination or discharge is
permitted by this Indenture and the Security Documents; 
 (6) add to the covenants of the Issuer or a
Restricted Subsidiary for the benefit of the Holders or surrender any right or power conferred upon the Issuer or a Restricted Subsidiary; 
 (7) make any change that does not adversely affect the rights of any Holder; 
 (8) comply with any requirement of the SEC in connection with the qualification of this Indenture under the TIA; 
 (9) conform the text of this Indenture, the Notes or any other Note Document to any provision of the “Description of New Notes” under the Offering Circular to the extent that such provision in
the “Description of New Notes” under the Offering Circular was intended to be a verbatim recitation of a provision of this Indenture, the Notes or any other Note Document; 

(10) provide for the succession of a successor Trustee or Collateral Agent under this Indenture; 

  
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 (11) provide for the accession or succession of any parties to the Note
Documents (and other amendments that are administrative or ministerial in nature) in connection with an amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplementing or other modification from time to time of
the Notes; or 
 (12) provide for the release or addition of Collateral in accordance with the terms of the Note
Documents. 
 Section 9.2 With Consent of Holders. All modifications and amendments of this Indenture, the Notes, the
Intercreditor Agreement, the Security Documents and the other Note Documents (other than those permitted by Section 9.1) may be made, subject to certain exceptions, with the consent of the Holders of a majority in principal amount of the
Notes then outstanding (including without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes) and, subject to certain exceptions, any past default or compliance with any provisions may be
waived with the consent of the Holders of a majority in principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes). Such amendments
may not, without the consent of the Holders of at least 75% of the aggregate principal amount of the Notes then outstanding (voting as one class), release all or substantially all of the Collateral. Furthermore, no amendment may, without the consent
of each Holder of an outstanding Note affected thereby: 
 (1) reduce the principal amount of Notes whose Holders
must consent to an amendment, supplement or waiver of any provision of this Indenture or the Notes; 
 (2)
reduce the stated rate of or change the stated time for payment of interest on any Note; 
 (3) reduce the
principal of or change the Stated Maturity of any Note; 
 (4) change the time at which any Note may be redeemed
pursuant to Section 3.3 or waive any payment with respect to the redemption of Notes; provided, that solely for the avoidance of doubt, and without other implication, any purchase or repurchase of Notes (including pursuant to the
covenants described in Section 4.12 and Section 4.13) shall not be deemed a redemption of Notes; 
 (5) make any Note payable in money other than that stated in the Note; 
 (6) impair the right of any Holder to receive payment of principal of and interest on, such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment
on or with respect to such Holder’s Notes; 

  
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 (7) make any change in the amendment or waiver provisions that require each
Holder’s consent; or 
 (8) subordinate the Notes in right of payment to any other Indebtedness.

 The consent of the Holders is not necessary under the Note Documents to approve the particular form of any proposed amendment. It is
sufficient if such consent approves the substance of the proposed amendment. A consent to any amendment or waiver under this Indenture by any Holder given in connection with a tender of such Holder’s Notes will not be rendered invalid by such
tender. After an amendment under this Indenture or any Security Documents becomes effective, the Issuer is required to mail to the Holders a notice briefly describing such amendment. However, failure to give such notice to all the Holders, or any
defect in the notice, will not impair or affect the validity of the amendment. 
 Section 9.3 Compliance with Trust Indenture
Act. Every amendment, waiver or supplement of this Indenture or the Notes shall comply with the TIA as then in effect; provided, however, that this Section 9.3 shall not of itself require that this Indenture or the
Trustee be qualified under the TIA or constitute any admission or acknowledgment by any party hereto that any such qualification is required prior to the time this Indenture and the Trustee are required by the TIA to be so qualified. 

Section 9.4 Revocation and Effect of Consents. Until an amendment, waiver or supplement becomes effective, a consent to it by a
Holder is a continuing consent by the Holder and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. Subject to the
following paragraph, any such Holder or subsequent Holder may revoke the consent as to such Holder’s Note or portion of such Note by notice to the Trustee or the Issuer received before the date on which the Trustee receives an Officer’s
Certificate certifying that the Holders of the requisite principal amount of Notes have consented (and not theretofore revoked such consent) to the amendment, supplement or waiver. An amendment, supplement or waiver becomes effective upon receipt by
the Trustee of such Officer’s Certificate and evidence of consent by the Holders of the requisite percentage in principal amount of outstanding Notes. 
 The Issuer may, but shall not be obligated to, fix a Record Date for the purpose of determining the Holders entitled to consent to any amendment, supplement or waiver, which Record Date shall be at least
30 days prior to the first solicitation of such consent. If a Record Date is fixed, then notwithstanding the second sentence of the immediately preceding paragraph, those Persons who were Holders at such Record Date (or their duly designated
proxies), and only those Persons, shall be entitled to revoke any consent previously given, whether or not such Persons continue to be Holders after such Record Date. No such consent shall be valid or effective for more than 90 days after such
Record Date unless consents from Holders of the requisite percentage in principal amount of outstanding Notes required under this Indenture for the effectiveness of such consents shall have also been given and not revoked within such 90 day period.

  
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 Section 9.5 Notation on or Exchange of Notes. If an amendment, supplement or waiver
changes the terms of a Note, the Trustee may require the Holder of such Note to deliver it to the Trustee. The Trustee may place an appropriate notation on the Note about the changed terms and return it to the Holder. Alternatively, if the Issuer or
the Trustee so determines, the Issuer in exchange for the Note shall issue and the Trustee shall authenticate a new Note that reflects the changed terms. 
 Section 9.6 Trustee To Sign Amendments, Etc. The Trustee shall execute any amendment, supplement or waiver authorized pursuant to this Article IX; provided, however, that
the Trustee may, but shall not be obligated to, execute any such amendment, supplement or waiver which affects the Trustee’s own rights, duties or immunities under this Indenture. In executing such supplement or waiver the Trustee shall be
entitled to receive indemnity reasonably satisfactory to it, and shall be fully protected in relying upon an Opinion of Counsel and an Officer’s Certificate of the Issuer, stating that no event of default shall occur as a result of such
amendment, supplement or waiver and that the execution of any amendment, supplement or waiver authorized pursuant to this Article IX is authorized or permitted by this Indenture, provided the legal counsel delivering such Opinion
of Counsel may rely as to matters of fact on one or more Officer’s Certificates of the Issuer. Such Opinion of Counsel shall not be an expense of the Trustee. 
 ARTICLE X 
 INTERCREDITOR AGREEMENT 

Section 10.1 Intercreditor Agreement. Each Holder, by accepting a Note, agrees that the Note Liens are subject to the terms of the
Intercreditor Agreement. The Holders, by accepting a Note, hereby authorize and direct the Trustee and the Collateral Agent to enter into the Intercreditor Agreement on behalf of the Holders and agree that the Holders shall comply with the
provisions of the Intercreditor Agreement applicable to them in their capacities as such to the same extent as if the Holders were parties thereto. In the event of a conflict or inconsistency between (a) the terms and provisions of this
Indenture, the Security Documents, or the Notes (on the one hand) and (b) the terms and provisions of the Intercreditor Agreement (on the other hand), the terms and provisions of the Intercreditor Agreement shall govern. 

ARTICLE XI 

COLLATERAL 

Section 11.1 Security Documents. 
 (a) General. The Note Obligations are secured as provided in the Security Documents and the Intercreditor Agreement. The Issuer shall make all filings

  
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(including filings of continuation statements and amendments to UCC financing statements that may be necessary to continue the effectiveness of such UCC financing statements) necessary to
maintain (at the sole cost and expense of the Issuer) the security interest created by the Security Documents in the Collateral as a perfected second-priority security interest to the extent perfection is required by the Security Documents, subject
only to Permitted Liens and terms, conditions and provisions of the Intercreditor Agreement. 
 (b) Mortgages and Fixture
Filings on Oil and Gas Properties. With respect to any interest in certain Oil and Gas Properties and land owned in fee simple owned by the Issuer on the Issue Date or Oil and Gas Properties and land owned in fee simple acquired by the Issuer
after the Issue Date: 
 (1) with respect to its Oil and Gas Properties and land owned in fee simple, the Issuer
has delivered or will deliver to the Collateral Agent, as mortgagee or beneficiary, as applicable, fully executed counterparts of Mortgages, each dated as of the Issue Date or, if later, the date such property is pledged to secure the Note
Obligations in accordance with the requirements of the Security Documents, duly executed by the Issuer, together with evidence of the completion (or satisfactory arrangements for the completion) of all recordings and filings of such Mortgage (and
payment of any taxes or fees in connection therewith) as may be necessary to create a valid, perfected Lien against the properties purported to be covered thereby to secure the Note Obligations; provided, however, that no Mortgage
shall be required for any Oil and Gas Property or land owned in fee simple (i) the Fair Market Value of which is less than $500,000, or (ii) (x) that is acquired by the Issuer through a Permitted Asset Swap and (y) that is held
by the Issuer for less than 60 days; provided, further, that the Fair Market Value of all Oil and Gas Properties and land owned in fee simple exempted pursuant to clauses (i) and (ii) shall not exceed $5.0 million in the
aggregate, and 
 (2) the Issuer is required to deliver to the Collateral Agent, with respect to each of the
covered Oil and Gas Properties and land owned in fee simple, such filings (including UCC-1 financing statements to perfect a Lien for the benefit of the Collateral Agent to secure the Note Obligations, on the personal property situated on all or any
part of the Mortgaged Property and fixture filings), along with such other documents, instruments, certificates and agreements, as reasonably required to create, evidence or perfect a valid Lien on the property subject to each such Mortgage and as
the Collateral Agent and its counsel may reasonably require, including those documents, instruments, certificates and agreements listed in Section 11.12. 
 Section 11.2 Collateral Agent. 
 (a) The Collateral Agent shall have all
the rights and protections provided in the Security Documents and, additionally, shall have all the rights and protections in its dealings under the Security Documents as are provided to the “Trustee” under Article VII.

  
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 (b) Subject to Section 7.1, none of the Collateral Agent, Trustee, Paying Agent,
Registrar or Transfer Agent nor any of their respective officers, directors, employees, attorneys or agents will be responsible or liable for the existence, genuineness, value or protection of any Collateral, for the legality, enforceability,
effectiveness or sufficiency of the Security Documents, for the creation, validity, perfection, priority, sufficiency, protection or enforcement of any Note Liens or any other security interest in the Collateral, or any defect or deficiency as to
any such matters. 
 (c) Except as required or permitted by the Security Documents, the Holders, by accepting a Note,
acknowledge that the Collateral Agent will not be obligated: 
 (1) to act upon directions purported to be
delivered to it by any Person, except in accordance with the Security Documents; 
 (2) to foreclose upon or
otherwise enforce any Note Lien; or 
 (3) to take any other action whatsoever with regard to any or all of the
Note Liens, Security Documents or Collateral. 
 Section 11.3 Authorization of Actions to be Taken. 

(a) Each Holder of Notes, by its acceptance thereof, consents and agrees to the terms of each Security Document, as originally in effect
and as amended, supplemented or replaced from time to time in accordance with its terms or the terms of this Indenture, authorizes and directs the Collateral Agent to enter into the Security Documents to which it is a party, authorizes and empowers
the Collateral Agent to execute and deliver the Intercreditor Agreement and authorizes and empowers the Collateral Agent to bind the Holders of Notes as set forth in the Security Documents to which the Collateral Agent is a party and the
Intercreditor Agreement and to perform its obligations and exercise its rights and powers thereunder. 
 (b) The Trustee is
authorized and empowered to receive for the benefit of the Holders of Notes any funds collected or distributed to the Collateral Agent under the Security Documents to which the Trustee is a party and, subject to the terms of the Security Documents,
to make further distributions of such funds to the Holders of Notes according to the provisions of this Indenture. 
 (c)
Subject to the provisions of Section 7.1, Section 7.2, and the Security Documents, the Trustee may (but shall not be obligated to), in its sole discretion and without the consent of the Holders, direct, on behalf of the
Holders, the Collateral Agent to take all actions it deems necessary or appropriate in order to: 
 (1) foreclose
upon or otherwise enforce any or all of the Note Liens; 
 (2) enforce any of the terms of the Security
Documents to which the Collateral Agent is a party; or 

  
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 (3) collect and receive payment of any and all Obligations. 

Subject to the Intercreditor Agreement and at the Issuer’s sole cost and expense, the Trustee is hereby authorized
and empowered by each Holder of Notes (by its acceptance thereof) to institute and maintain, or direct the Collateral Agent to institute and maintain, such suits and proceedings as it may deem reasonably expedient to protect or enforce the Note
Liens or the Security Documents to which the Collateral Agent or Trustee is a party or to prevent any impairment of Collateral by any acts that may be unlawful or in violation of the Security Documents or this Indenture, and such suits and
proceedings as the Trustee may deem reasonably expedient, at the Issuer’s sole cost and expense, to preserve or protect its interests and the interests of the Holders of Notes in the Collateral, including power to institute and maintain suits
or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or
order would impair the Note Liens or be prejudicial to the interests of Holders or the Trustee. 
 Section 11.4 Information
Regarding the Collateral. 
 (a) The Issuer agrees to promptly notify the Collateral Agent if any portion of the Collateral
in excess of $1.5 million is physically damaged, destroyed or condemned; provided, that the foregoing shall not include damages to wells or well bores or Oil and Gas Properties incurred in the ordinary course of drilling or producing such
properties in an aggregate amount of less than $5.0 million. 
 (b) Each year, within 120 days after the end of the preceding
fiscal year, the Issuer shall deliver to the Trustee and the Collateral Agent a certificate of a responsible financial or accounting Officer setting forth the information required pursuant to the schedules required by the Security Documents or
confirming that there has been no change in such required information since the date of the prior annual financial statements. 

(c) Any certificate or opinion required by Section 314(d) of the TIA may be made by an Officer of the Issuer, except in cases where
Section 314(d) thereof requires that such certificate or opinion be made by an independent engineer, appraiser or other expert. 
 (d) Notwithstanding anything to the contrary in this Indenture, the Issuer and its Subsidiaries will not be required to comply with all or any portion of Section 314(d) of the TIA if they determine,
in good faith based on advice of counsel, that under the terms of that section and/or any interpretation or guidance as to the meaning thereof of the Securities and Exchange Commission and its staff, including “no action” letters or
exemptive orders, all or any portion of Section 314(d) of the TIA is inapplicable to the released Collateral. 

  
 93 

 (e) Without limiting the generality of paragraph (d) above, the Issuer may, subject to
the provisions of this Indenture, among other things, without any release or consent by the Collateral Agent, conduct ordinary course activities with respect to the Collateral, including, without limitation: 

(1) selling or otherwise disposing of, in any transaction or series of related transactions, any property subject to the
Note Liens that has become worn out, defective, obsolete or not used or useful in the business; 
 (2)
abandoning, terminating, canceling, releasing or making alterations in or substitutions of any leases or contracts subject to the Note Liens; 
 (3) surrendering or modifying any franchise, license or permit subject to the Note Liens that it may own or under which it may be operating; 

(4) altering, repairing, replacing, changing the location or position of and adding to its structures, machinery,
systems, equipment, fixtures and appurtenances; 
 (5) selling, transferring or otherwise disposing of inventory
or accounts receivable in the ordinary course of business; and 
 (6) making cash payments (including for the
repayment of Indebtedness or interest) from cash that is at any time part of the Collateral in the ordinary course of business that are not otherwise prohibited by the Note Documents. 

The Issuer shall deliver to the Trustee within 30 days following the end of each six-month period (with the end of the first six-month
period being the end of the current fiscal year), an Officer’s Certificate to the effect that all releases and withdrawals during the preceding six-month period (or since the Issue Date, in the case of the first such certificate) in connection
with which no consent of the Collateral Agent was obtained were made in the ordinary course of the Issuer’s business and such release and the use of proceeds in connection therewith were not prohibited by this Indenture. 

Section 11.5 Release of Collateral. Subject to and in accordance with the terms of the Security Documents, the Note Liens on the
Collateral will be released: 
 (1) in whole, upon payment in full of the principal of and accrued and unpaid
interest on the Notes and payment in full of all other Note Obligations that are due and payable at or prior to the time of such principal payment; 
 (2) in whole, upon satisfaction and discharge of this Indenture as set forth in Article VIII; 
 (3) in whole, upon a legal defeasance or a covenant defeasance as set forth in Article VIII; 

  
 94 

 (4) in part, as to any asset constituting Collateral that is sold or
otherwise disposed of by the Issuer in transactions that are permitted under the Note Documents, including the limitations set forth under Section 4.13; 

(5) as set forth under Article IX, as to property that constitutes less than all or substantially all of the
Collateral, with the consent of Holders of at least a majority in aggregate principal amount of the Notes then outstanding, voting as one class (or, in the case of a release of all or substantially all of the Collateral, with the consent of the
Holders of at least 75% in aggregate principal amount of the Notes then outstanding, voting as one class), including consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes; 

(6) in whole or in part, as applicable, as to any portion of the Collateral that is taken by eminent domain, condemnation
or similar circumstances. 
 Upon compliance by the Issuer with the conditions precedent required by this Indenture and the
Security Documents, the Collateral Agent shall promptly cause to be released and reconveyed to the Issuer any released Collateral. Prior to each proposed release, the Issuer must furnish to the Collateral Agent all certificates, opinions and
documents required by this Indenture, the Security Documents and the TIA. 
 Section 11.6 Use of Collateral; Compliance with
Section 314(d) of the TIA. 
 (a) Unless an Event of Default shall have occurred and be continuing and the Collateral
Agent shall have commenced enforcement of remedies under the Security Documents, except to the extent otherwise provided in the Security Documents, the Intercreditor Agreement or this Indenture, the Issuer will have the right (i) to remain in
possession and retain exclusive control of the Collateral securing the Note Obligations (other than any cash, securities, obligations and Cash Equivalents constituting part of the Collateral and required to be deposited with the Collateral Agent (or
any financial institution which has executed and delivered a Control Agreement) in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents and the Intercreditor Agreement), (ii) to exercise
all voting and other rights with respect to the Capital Stock pledged as Collateral, (iii) to retain exclusive control over the Collateral (except as otherwise provided in the Security Documents), (iv) to freely operate the Collateral,
(v) to alter or repair the Collateral, and (vi) to collect, invest and dispose of any income therefrom. Upon an Event of Default that has occurred and is continuing, to the extent permitted by law and after notice by the Trustee to the
Issuer, these rights will cease, and the Trustee will be entitled to foreclose upon and sell the Collateral or any part thereof and otherwise exercise remedies in respect thereof, in each case, solely as provided in the Security Documents and the
Intercreditor Agreement. 

  
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 (b) After qualification of this Indenture pursuant to the TIA, the Issuer shall comply with
TIA § 314(d). Any certificate or opinion required by TIA § 314(d) may be made by an officer of the Issuer except in cases where TIA § 314(d) requires that such certificate or opinion be made by an independent Person,
which Person will be an independent appraiser or other expert selected by the Issuer and reasonably satisfactory to the Trustee. 
 (c) Notwithstanding anything to the contrary in Section 11.6(b), the Issuer will not be required to comply with all or any portion of TIA § 314(d) if it determines, in good faith
based on advice of counsel, that under the terms of TIA § 314(d) and/or any interpretation or guidance as to the meaning thereof of the SEC and its staff, including “no action” letters or exemptive orders, all or any portion of
TIA § 314(d) is inapplicable to released Collateral (including, without limitation, certain no-action letters issued by the SEC that have permitted an indenture qualified under the TIA to contain provisions permitting the release of
collateral from Liens under an indenture in the ordinary course of an issuer’s business without requiring the issuer to provide certificates and other documents under TIA § 314(d)). 

Section 11.7 Maintenance of Collateral. 
 This Indenture and/or the Security Documents provide that, except as permitted under such documents, the Issuer will: 

(i) maintain, develop and operate the interests being mortgaged in a good and workmanlike manner, except where such
failure to comply would not have a material adverse effect on the Collateral taken as a whole; 
 (ii) comply
with all contracts and agreements applicable to or relating to the Mortgaged Property or the production and sale of Hydrocarbons therefrom, except to the extent a failure to so comply would not have a material adverse effect on the Collateral taken
as a whole; 
 (iii) maintain, preserve and keep all operating equipment used with respect to the Mortgaged
Property in proper repair, working order and condition, and make all necessary or appropriate repairs, renewals, replacements, additions and improvements thereto so that the efficiency of such operating equipment shall at all times be properly
preserved and maintained, except where such failure to so act would not have a material adverse effect on the Collateral taken as a whole; 
 (iv) cause the Mortgaged Property to be kept free and clear of all Liens other than Permitted Liens; 
 (v) keep adequately insured by insurers of recognized responsibility, all of the Mortgaged Property of an insurable nature and of a character usually insured by Persons engaged in the same or similar
business, against all risks customarily insured against by such Persons; and 

  
 96 

 (vi) not sell, lease, transfer, abandon or otherwise dispose of any portion
of the Mortgaged Property or any of the Issuer’s rights, titles or interests therein or thereto, except as specifically permitted in this Indenture. 
 Section 11.8 Powers Exercisable by Receiver or Trustee. 
 In case the
Collateral shall be in the possession of a receiver or trustee, lawfully appointed, the powers conferred in this Article XI upon the Issuer with respect to the release, sale or other disposition of such property may be exercised by such
receiver or trustee, and an instrument signed by such receiver or trustee shall be deemed the equivalent of any similar instrument of the Issuer or of any officer or officers thereof required by the provisions of this Article XI; and if
the Trustee or the Collateral Agent shall be in the possession of the Collateral under any provision of this Indenture, then such powers may be exercised by the Trustee or the Collateral Agent, as the case may be. 

Section 11.9 Voting. In connection with any matter under the Security Documents requiring a vote of holders of Secured Obligations
(as defined in the Security Documents), the holders of such Secured Obligations shall be treated as a single class and the Holders shall cast their votes in accordance with this Indenture. The amount of the Notes to be voted by the Holders will
equal the aggregate outstanding principal amount of the Notes. Following and in accordance with the outcome of the applicable vote under this Indenture, the Trustee shall vote the total amount of the Notes as a block in respect of any vote under the
Security Documents. 
 Section 11.10 Collateral Proceeds Account. 

(a) Establishment of Collateral Proceeds Account. No later than the first date following the Issue Date on which the Issuer
receives any Net Proceeds that are expressly required pursuant to the provisions of Section 4.13 to be deposited into the Collateral Proceeds Account, there shall be established and, at all times thereafter until this Indenture shall
have terminated, there shall be maintained with the Collateral Agent the Collateral Proceeds Account. The Collateral Proceeds Account shall be established and maintained by the Collateral Agent at the office of the Collateral Agent. For the
avoidance of doubt, no other deposit account or securities account shall be, or shall be deemed to be, the Collateral Proceeds Account, and for purposes of this Indenture, “Trust Monies” shall include only Net Proceeds required to
be deposited into the Collateral Proceeds Account pursuant to the terms of Section 4.13, amounts deposited in the Collateral Proceeds Account in accordance with the Security Documents and any investment return in respect thereof received
by the Collateral Agent. The Issuer shall cause all Net Proceeds expressly required by Section 4.13 to be deposited into the Collateral Proceeds Account to be so deposited in the Collateral Proceeds Account and any such Trust Monies
shall be held by and under the dominion and control of the Collateral Agent for its benefit and for the benefit of the Secured Parties (as defined in the Security Documents) as a part of the Collateral until released in accordance with this
Article XI. 

  
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 (b) Withdrawal of Net Proceeds in Connection with Permitted Applications. To the
extent that any Trust Monies consist of Net Proceeds of an Asset Sale or Casualty or Condemnation Event, such Trust Monies may be withdrawn by the Issuer and shall be paid by the Collateral Agent (upon the direction of the Trustee) to reimburse the
Issuer for expenditures made, or to pay costs to be incurred, by the Issuer in connection with any application of such Net Proceeds permitted by Section 4.13, upon receipt by the Trustee and the Collateral Agent of an Officer’s
Certificate, to the effect that: 
 (i) such Trust Monies have been (or will be within 60 days of the requested
date of release) applied as permitted by Section 4.13; and 
 (ii) to the extent required by
Section 4.13 the Issuer has taken (or will take not later than 60 days following the application of such Net Proceeds) all steps, if any, required by the Security Documents in order to grant and/or perfect the security interest of the
Collateral Agent in any assets in which such Net Proceeds have been reinvested (which Officer’s Certificate shall attach copies of (or forms of) any additional Security Documents or amendments thereto or filings thereunder, if any, required to
comply with the Security Documents and Section 4.13). 
 Upon compliance with the foregoing provisions of this
Section 11.10, the Collateral Agent shall, upon receipt of a written request by the Issuer (which may be contained in the Officer’s Certificate), pay an amount of Trust Monies equal to the amount specified in the Officer’s
Certificate required by this Section 11.10(b) as directed by the Issuer. 
 (c) Withdrawal of Net Cash Proceeds
to Fund a Net Proceeds Offer or Release Following a Net Proceeds Offer. To the extent that any Trust Monies consist of Net Proceeds received by the Collateral Agent pursuant to the provisions of Section 4.13 and a Net Proceeds Offer
has been made in accordance therewith, such Trust Monies may be withdrawn by the Issuer and shall be paid by the Collateral Agent to the Paying Agent for application in accordance with Section 4.13 upon receipt by the Trustee and the
Collateral Agent of an Officer’s Certificate, dated not more than ten (10) days prior to the Purchase Date, setting forth the amount of Excess Proceeds, as applicable, subject to the Net Proceeds Offer and the date on which Notes and
Permitted Additional Pari Passu Obligations are to be purchased, and to the effect that: 

(i) (x) such Trust Monies constitute Net Proceeds and (y) pursuant to and in accordance with
Section 4.13, the Issuer has made a Net Proceeds Offer; and 
 (ii) all conditions precedent and
covenants herein provided for such application of Trust Monies have been satisfied. 

  
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 Upon compliance with the foregoing provisions of this Section 11.10(c), the
Collateral Agent shall apply the Trust Monies as directed and specified by the Issuer, subject to Section 4.13 (including to return to the Issuer any such amount of Excess Proceeds that are subject to the Net Proceeds Offer and that are
not required to be applied to the purchase of Notes or Permitted Additional Pari Passu Obligations pursuant to Section 4.13). 
 (d) Investment of Trust Monies. So long as no Default or Event of Default shall have occurred and be continuing, all or any part of any Trust Monies held by (or held in an account subject to the
sole control of) the Collateral Agent shall from time to time be invested or reinvested by the Collateral Agent in any Cash Equivalents pursuant to a written request by the Issuer in the form of an Officer’s Certificate, which shall specify the
Cash Equivalents in which such Trust Monies shall be invested and shall certify that such investments constitute Cash Equivalents; and the Collateral Agent shall sell any such Cash Equivalent only upon receipt of such a written request by the Issuer
specifying the particular Cash Equivalent to be sold, unless otherwise required under the Security Documents. So long as no Default or Event of Default occurs and is continuing, any interest or dividends accrued, earned or paid on such Cash
Equivalents (in excess of any accrued interest or dividends paid at the time of purchase) that may be received by the Collateral Agent shall be forthwith paid to the Issuer. Such Cash Equivalents shall be held by the Collateral Agent as a part of
the Collateral, subject to the same provisions hereof as the cash used by it to purchase such Cash Equivalents. 
 The Trustee
and Collateral Agent shall not be liable or responsible for any loss, fee, tax or other charge resulting from such investments, reinvestments or sales except only for their own negligent action, their own negligent failure to act or their own
willful misconduct in complying with this Section 11.10. 
 (e) Application of Other Trust Monies. The
Collateral Agent shall return all Trust Monies to the Issuer upon any Legal Defeasance or Covenant Defeasance under Section 8.1 or satisfaction and discharge of this Indenture under Article VIII. The Collateral Agent shall
have all rights and remedies with respect to the Collateral Proceeds Account and any Trust Monies as provided in the Security Documents. 
 Section 11.11 Appointment and Authorization of U.S. Bank as Collateral Agent. 
 (1) U.S. Bank National Association is hereby designated and appointed as the Collateral Agent of the Holders under the Security Documents, and is authorized as the Collateral Agent for such Holders to
execute and enter into each of the Security Documents and all other instruments relating to the Security Documents and (i) to take action and exercise such powers and remedies as are expressly required or permitted hereunder and under the
Security Documents and all instruments relating hereto and thereto and (ii) to exercise such powers and perform such duties as are, in each case, expressly delegated to the Collateral Agent by the terms hereof and thereof, together with such
other powers as are reasonably incidental hereto and thereto. 

  
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 (2) Notwithstanding any provision to the contrary elsewhere in this
Indenture or the Security Documents, the Collateral Agent shall not have (i) any duties or responsibilities except those expressly set forth herein or therein or (ii) any fiduciary relationship with any Holder, and no implied covenants,
functions, responsibilities, duties, obligations or liabilities shall be read into this Indenture or any Security Document or otherwise exist against the Collateral Agent. 

(3) The Collateral Agent may consult with counsel of its selection and the advice or opinion of such counsel as to matters
of law shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder or under the Security Documents in good faith and in accordance with the advice or opinion of such
counsel. 
 Section 11.12 Post Closing Collateral. 

(1) Real Property Collateral Documents. Within 30 days after the Issue Date, the Collateral Agent shall have
received a mortgage, deed of trust, assignment of leases and rents, security documents, fixture filing and financing statement from the owner or holder of each interest in real property that is part of the Collateral, in form and substance
reasonably acceptable to the Collateral Agent (each a “Mortgage”) encumbering each real property that is part of the Collateral (each a “Mortgaged Property”) in favor of the Collateral Agent for its benefit and for the benefit of
the other Secured Parties (as defined in the Security Documents). 
 (2) Mortgages. Within 30 days after
the Issue Date, the Collateral Agent shall have received fully executed counterparts of the Mortgages, which Mortgages shall cover the Mortgaged Property, together with evidence that counterparts of the Mortgages have been delivered for recording in
all places to the extent necessary or, in the reasonable opinion of the Collateral Agent, desirable to effectively create a valid and enforceable mortgage lien on each Mortgaged Property in favor of the Collateral Agent for its benefit and for the
benefit of the other Secured Parties (as defined in the Security Documents), securing the Note Obligations (provided that in jurisdictions that impose mortgage recording taxes, such Mortgages shall not secure indebtedness in an amount exceeding 115%
of the fair market value of such Mortgaged Property, as reasonably determined, in good faith, by the Issuer and reasonably acceptable to the Collateral Agent), subject to (i) those liens, encumbrances, hypothecations and other matters affecting
title to such Mortgaged Property and found reasonably acceptable by the Collateral Agent, (ii) Permitted Liens and (iii) such other similar items as the Collateral Agent may consent to (such consent not to be unreasonably withheld) (the
liens described in clauses (i) through (iii) of this sentence, collectively, the “Permitted Encumbrances”). 

  
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 (3) Fixture filings. Within 30 days after the Issue Date, the
Collateral Agent shall have received proper fixture filings and as-extracted collateral under the UCC in proper form for filing under the UCC in the appropriate jurisdictions in which the Mortgaged Properties are located, desirable to perfect the
security interests purported to be created by the Mortgages in favor of the Collateral Agent for its benefit and for the benefit of the other Secured Parties (as defined in the Security Documents). 

(4) Mortgage Opinions. Promptly after the Issue Date, the Trustee shall have received opinions required by TIA
§314(b)(1) of local counsel in each jurisdiction where Mortgaged Property is located with respect to the Mortgaged Property. 
 (5) Insurance. Within 30 days after the Issue Date, the Collateral Agent shall have received a certificate of an insurance consultant complying with the provisions of Section 4.5(b)
stating that the certificate(s) of insurance attached thereto reflect the Collateral Agent, for its benefit and the benefit of the other Secured Parties (as defined in the Security Documents), as additional insured or loss payee. 

(6) Reserve Report and List of Current Mortgages. Not less than annually, the Issuer will be required to review
the Reserve Report and the list of current Mortgaged Properties to ascertain whether the Mortgaged Properties represent 100% of the total PV-10 Value of the proved Oil and Gas Properties evaluated in the most recently completed Reserve Report after
giving effect to exploration and production activities, acquisitions, dispositions and production. In the event that the Mortgaged Properties do not represent at least 100% of such total PV-10 Value, then the Issuer is required to grant promptly to
the Collateral Agent a Lien upon such additional property as necessary so that the Mortgaged Properties represent at least 100% of such total PV-10 Value (subject to Permitted Liens) as security for the Notes. In addition, in the event that the
Issuer determines after the most recently completed Reserve Reports that the Issuer is not entitled to receive at least the net revenue interests of such properties set forth in the Reserve Reports from all hydrocarbons and minerals produced, saved
and marketed from such properties, and proceeds thereof, solely due to defects in title discovered after the date of such Reserve Reports from title reports obtained in the ordinary course of business of the Issuer, and such difference would reduce
the total PV-10 Value of all of the proved Oil and Gas Properties by more than 5% of such total PV-10 Value as set forth in the related Reserve Reports, the Issuer shall give notice promptly to the Collateral Agent of such title defects and such
estimated difference. 
 (7) Collateral Fees and Expenses. Promptly after the Issue Date, the Collateral
Agent shall have received evidence reasonably acceptable to the Collateral Agent of payment by the Issuer of all mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgages referred to above. 

  
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 (8) Additional Collateral. From and after the Issue Date, if the
Issuer forms any new Subsidiaries of the type that would be subject to a Security Document, then the Issuer shall enter into such Security Documents as are necessary to include the applicable Capital Stock of such Subsidiary as part of the
Collateral. 
 ARTICLE XII 
 MISCELLANEOUS 
 Section 12.1 TIA Controls. If any provision of this
Indenture limits, qualifies, or conflicts with another provision which is required to be included in this Indenture by the TIA, the required provision shall control; provided, however, that this Section 12.1 shall not of
itself require that this Indenture or the Trustee be qualified under the TIA or constitute any admission or acknowledgment by any party hereto that any such qualification is required prior to the time this Indenture and the Trustee are required by
the TIA to be so qualified. 
 Section 12.2 Notices. Any notices or other communications required or permitted under this
Indenture shall be in writing, and shall be sufficiently given if made by hand delivery, by telex, by telecopier or registered or certified mail, postage prepaid, return receipt requested, addressed as follows: 

if to the Issuer: 
 c/o GMX Resources Inc. 
 9400 North Broadway, Suite 600, 

Oklahoma City, OK 73114 
 Telecopier Number: (405) 600-0711 
 Attn: Chief Financial Officer 

if to the Trustee: 
 U.S. Bank National Association 
 5555 San Felipe Street, Suite 1150 

Houston, Texas 77056 
 Telecopier Number: (713) 235-9213 
 Attn: Corporate Trust Administration

 The Issuer and the Trustee by written notice to the other may designate additional or different addresses for notices to such
Person. Any notice or communication to the Issuer or the Trustee shall be deemed to have been given or made as of the date so delivered if hand delivered; when receipt is acknowledged, if faxed; and five (5) calendar days after mailing if sent
by registered or certified mail, postage prepaid (except that a notice of change of address shall not be deemed to have been given until actually received by the addressee). 

  
 102

 Any notice or communication mailed to a Holder shall be mailed to him by first-class mail or
other equivalent means at his address as it appears on the registration books of the Registrar ten (10) days prior to such mailing and shall be sufficiently given to him if so mailed within the time prescribed. 

Any notice or communication shall also be so mailed to any Person described in TIA § 313(c), to the extent required by the TIA.

 Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to
other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
 Section 12.3 Communications by Holders with Other Holders. Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the
Notes. The Issuer, the Trustee, the Registrar and any other Person shall have the protection of TIA § 312(c). 

Section 12.4 Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuer to the Trustee to
take any action under this Indenture, the Issuer shall furnish to the Trustee: 
 (1) an Officer’s
Certificate, in form and substance satisfactory to the Trustee, stating that, in the opinion of the signers, all conditions precedent to be performed by the Issuer, if any, provided for in this Indenture relating to the proposed action have been
complied with; and 
 (2) an Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent to be performed by the Issuer, if any, provided for in this Indenture relating to the proposed action have been complied with (which counsel, as to factual matters, may rely on an Officer’s Certificate). 

Section 12.5 Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture, other than the Officer’s Certificate required by Section 4.6, shall comply with TIA § 314(e) and include: 

(1) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or
opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such
Person, he has made such examination or investigation as is reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

  
 103

 (4) a statement as to whether or not, in the opinion of each such Person,
such condition or covenant has been complied with. 
 Section 12.6 Rules by Trustee, Paying Agent, Registrar. The Trustee
may make reasonable rules in accordance with the Trustee’s customary practices for action by or at a meeting of Holders. The Paying Agent or Registrar may make reasonable rules for its functions. 

Section 12.7 Legal Holidays. A “Legal Holiday” used with respect to a particular place of payment is a Saturday,
a Sunday or a day on which commercial banking institutions in New York, New York, or Houston, Texas or at such place of payment are authorized or required by law to close. If a payment date is a Legal Holiday at such place, payment may be
made at such place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. 
 Section 12.8 Governing Law. THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. Each of the parties hereto agrees to submit to the
jurisdiction of the courts of the State of New York in any action or proceeding arising out of or relating to this Indenture. 
 Section 12.9 No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret another indenture, loan or debt agreement of the Issuer or any of its respective
Subsidiaries. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 12.10 No
Personal Liability. No director, officer, employee, incorporator or shareholder of the Issuer, as such, shall have any liability for any of the Issuer’s Note Obligations or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder, by accepting a Note, waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

Section 12.11 Successors. All agreements of the Issuer in this Indenture and the Notes shall bind their successors. All agreements
of the Trustee in this Indenture shall bind its successors. 
 Section 12.12 Duplicate Originals. All parties may sign
any number of copies of this Indenture. Each signed copy shall be an original, but all of them together shall represent the same agreement. 
 Section 12.13 Severability. In case any one or more of the provisions in this Indenture or in the Notes shall be held invalid, illegal or unenforceable, in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the full
extent permitted by law. 

  
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 Section 12.14 Independence of Covenants. All covenants and agreements in this
Indenture and the Notes shall be given independent effect so that if any particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or otherwise be within the limitations of,
another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists. 
 Section 12.15 Conflict with Other Documents. In the event of a conflict between (a) this Indenture and (b) the Notes , the terms and provisions of this Indenture shall control. In the
event of a conflict between (x) this Indenture and (y) any other Note Documents (other than the Intercreditor Agreement), the terms and provisions of this Indenture shall control. 

  
 105

 SIGNATURES 
 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, all as of the date first written above. 

 

			
	GMX RESOURCES INC.
		
	By:	 	/s/ James A. Merrill
		 	Name: James A. Merrill
		 	Title: Chief Financial Officer
	
	 U.S. BANK NATIONAL ASSOCIATION,
     as Trustee

		
	By:	 	/s/ Mauri J. Cowen
		 	Name: Mauri J. Cowen
		 	Title: Vice President

 [Signature Page to Indenture] 

 EXHIBIT A 

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

[Insert the OID Legend, if applicable pursuant to the provisions of the Indenture] 

CUSIP No.: [        ] 
 ISIN No.: [        ] 
 GMX RESOURCES
INC. 
 SENIOR SECURED SECOND-PRIORITY NOTE DUE 2018 

 

			
	No. [    ]	  	$[        ]

 GMX RESOURCES INC., an Oklahoma corporation (the “Issuer,” which term includes any
successor entities), for value received promises to pay to [CEDE & CO.] or registered assigns the principal sum of [            ] Dollars on March 2, 2018. 

Interest Payment Dates: March 2, June 2, September 2 and December 2, commencing March 2, 2013.

 Record Dates: February 16, May 16, August 16 and November 16. 

Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect as if set
forth at this place. 

  
 A-1

 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by
its duly authorized officers and a facsimile of its corporate seal to be affixed hereto or imprinted hereon. 
  

			
	GMX RESOURCES INC.
		
	By:	 	 
		 	Name:
		 	Title:

 Dated: 

Certificate of Authentication 

This is one of the Senior Secured Second-Priority Notes due 2018 referred to in the within-mentioned Indenture. 

 

			
	 U.S. BANK NATIONAL ASSOCIATION,
       as Trustee

		
	By:	 	 
		 	Authorized Signatory

 Date of Authentication: 

  
 A-2

 (REVERSE OF SECURITY) 

Senior Secured Second-Priority Note due 2018 
 Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

(1) Interest. GMX RESOURCES INC. (the “Issuer”) promises to pay interest on the principal amount of this Note at
the rate of 9.0% per annum, payable in arrears, either in cash or in shares of the Issuer’s Common Stock. The Issuer, in its sole discretion, may elect to pay all or any portion of an interest payment in the form of cash or shares of the
Issuer’s Common Stock (including fractional shares); provided that the Issuer may only elect to pay interest in the form of shares of the Issuer’s Common Stock with respect to an Interest Payment Date that occurs prior to the second
anniversary of the Issue Date. If the Issuer elects to pay all or any portion of an interest payment in the form of shares of the Issuer’s Common Stock, the number of shares of the Issuer’s Common Stock to be issued in lieu of cash shall
be equal to the quotient of (a) the difference between the total amount of such interest payment and the amount of such interest payment paid in cash, divided by (b) the adjusted daily VWAP of a share of the Issuer’s Common Stock for
the applicable observation period. 
 The “adjusted daily VWAP” means the product of the daily VWAP
times 0.75. 
 The “daily VWAP” means, for each of the 10 consecutive trading days during the applicable
observation period, the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “GMXR:US” (or its equivalent successor if such page is not available) in respect of the period from
the scheduled open of trading until the scheduled close of trading of the primary trading session on such trading day (or if such volume-weighted average price is unavailable, the market value of one share of the Issuer’s Common Stock on such
trading day determined, using a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Issuer). The daily VWAP will be determined without regard to after-hours trading or any
other trading outside of the regular trading session trading hours. 
 The “observation period” means the 10
consecutive trading day period ending on, and including, the trading day immediately preceding the relevant interest payment date. 
 A “trading day” means a day on which (i) there is no market disruption event and (ii) trading in the Issuer’s Common Stock generally occurs on the New York Stock Exchange
or, if the Issuer’s Common Stock is not then listed on the New York Stock Exchange, on the principal other U.S. national or regional securities exchange on which the Issuer’s Common Stock is then listed or, if the Issuer’s Common
Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Issuer’s Common Stock is then listed or admitted for trading. If the

  
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Issuer’s Common Stock is not so listed or admitted for trading, “trading day” means a Business Day. A “market disruption event” means (i) a failure by
the primary U.S. national or regional securities exchange or market on which the Issuer’s Common Stock is listed or admitted for trading to open for trading during its regular trading session or (ii) the occurrence or existence prior to
1:00 p.m., New York City time, on any scheduled trading day for the Common Stock for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price
exceeding limits permitted by the relevant stock exchange or otherwise) in the Issuer’s Common Stock or in any options, contracts or future contracts relating to the Issuer’s Common Stock. A “scheduled trading day” means a
day that is scheduled to be a trading day on the principal U.S. national or regional securities exchange or market on which the Issuer’s Common Stock is listed or admitted for trading. If the Issuer’s Common Stock is not so listed or
admitted for trading, “scheduled trading day” means a Business Day. 
 Notwithstanding the foregoing, interest
on the Notes will accrue for any overdue principal of the Notes at 9.0% per annum, and any overdue installments of interest at 9.0% per annum, to the extent lawful. Any such interest on overdue installments of interest must be paid in
cash; provided, however, that if paid prior to the second anniversary of the Issue Date, any such interest on overdue installments of interest may be paid in the Issuer’s sole discretion in the form of cash or shares of the Issuer’s
Common Stock (including fractional shares), or a combination thereof, with the number of shares of the Issuer’s Common Stock calculated as described above. 
 Any election to pay interest in the form of shares of the Issuer’s Common Stock pursuant to the foregoing shall specify the interest period subject to such election and may only be made by written
Notice given to the Trustee and the Holders at least 10 Business Days prior to the record date for the interest period for which such election is to be made (the issuance of a press release or the filing of a current report on Form 8-K with the SEC
shall be deemed to be written notice given to the Holders). 
 Interest on the Notes will accrue from the most recent date on
which interest has been paid or, if no interest has been paid, from the Issue Date. The Issuer will pay interest quarterly in arrears on each Interest Payment Date, commencing March 2, 2013. Interest will be computed on the basis of a 360-day
year of twelve 30-day months and, in the case of a partial month, the actual number of days elapsed. 
 (2) Method of
Payment. The Issuer shall pay interest, if any, on the Notes (except defaulted interest) to the Persons who are the registered Holders at the close of business on the Record Date immediately preceding the Interest Payment Date even if the Notes
are canceled on registration of transfer or registration of exchange after such Record Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The Issuer shall pay principal and interest in money of the United States that
at the time of payment is legal tender for payment of public and private debts (“U.S. Legal Tender”) or in shares of the Issuer’s Common Stock with respect to payment of interest to the extent permitted in Section 1 above
and Section 2.17 of the Indenture. The Issuer may deliver any such interest payment to the Paying Agent or to a Holder at the Holder’s registered address. 

  
 A-4

 (3) Paying Agent and Registrar. Initially, U.S. Bank National Association, (the
“Trustee”) will act as Paying Agent and Registrar. The Issuer may change any Paying Agent, Registrar or co-Registrar without notice to the Holders. 
 (4) Indenture and Security Documents. The Issuer issued the Notes under an Indenture, dated as of
[                    ], 2012 (the “Indenture”), among the Issuer and the Trustee. This Note is one of a duly authorized issue of
Notes of the Issuer designated as its Senior Secured Second-Priority Notes due 2018 (the “Notes”). The Notes include any Additional Notes. The Notes and any Additional Notes are treated as a single class of securities under the
Indenture. Each Holder, by accepting a Note, agrees to be bound by all of the terms and provisions of the Indenture, as the same may be amended from time to time in accordance with its terms. To the extent any provision of this Note conflicts with
the express provisions of the Indenture or any other Note Document, the provisions of the Indenture shall govern and be controlling; provided, that to the extent any provision of this Note conflicts with the express provisions of the
Intercreditor Agreement, if any, the provisions of such Intercreditor Agreement shall govern and be controlling. Following the Issue Date, the Notes are senior secured obligations of the Issuer. The Notes are secured by a pledge of the Collateral
pursuant to the Security Documents referred to in the Indenture. The Note Liens, which secure the Notes, are subject to the terms of the Intercreditor Agreement. Each Holder, by accepting a Note, agrees that the Note Liens are subject to the terms
of the Intercreditor Agreement, if any. The Holders, by accepting a Note, hereby authorize and direct the Trustee and the Collateral Agent to enter into the Intercreditor Agreement, if any, on behalf of the Holders and agree that the Holders shall
comply with the provisions of the Intercreditor Agreement, if any, applicable to them in their capacities as such to the same extent as if the Holders were parties thereto. The Indenture limits the aggregate principal amount of Notes that may be
issued thereunder to $60.0 million. 
 The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) (the “TIA”), as in effect on the date of the Indenture. Notwithstanding anything to the contrary herein, the Notes are subject
to all such terms, and Holders of Notes are referred to the Indenture, the Note Documents, the Intercreditor Agreement and the TIA for a statement of them. 
 (5) Redemption. Except as required under Section 4.12 or 4.13 of the Indenture, the Issuer will not be required to make any mandatory redemption or sinking fund payments with
respect to the Notes. The Issuer may at any time and from time to time purchase Notes in the open market, in privately negotiated transactions or otherwise. The Notes will be redeemable, at the Issuer’s option, in whole or in part at any time
and from time to time, upon not less than 30 nor more than 60 days’ prior notice, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest on such Notes, if any, to, but not
including, the Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date). 

  
 A-5

 (6) Notice of Redemption. Notice of redemption will be mailed at least 30 days but
not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at such Holder’s registered address. Notes in denominations larger than $1,000 may be redeemed in part. 

Except as set forth in the Indenture, if monies (or shares of the Issuer’s Common Stock, to the extent the Issuer validly elects to
pay accrued unpaid interest in the form of shares of the Issuer’s Common Stock pursuant to Section 2.17 of the Indenture) for the redemption of the Notes called for redemption shall have been deposited with the Paying Agent for
redemption on such Redemption Date, then, unless the Issuer defaults in the payment of such Redemption Price plus accrued interest, the Notes called for redemption will cease to bear interest from and after such Redemption Date and the only right of
the Holders of such Notes will be to receive payment of the Redemption Price plus accrued interest. 
 (7) Offers to
Purchase. Sections 4.12 and 4.13 of the Indenture provide that, upon the occurrence of a Change of Control and after certain permitted Asset Dispositions, and subject to further limitations contained therein, the Issuer will
make an offer to purchase certain amounts of the Notes in accordance with the procedures set forth in the Indenture. 
 (8)
Denominations; Transfer; Exchange. The Notes are in registered form, without coupons, and in denominations of at least $1,000 and integral multiples of $1,000 in excess thereof. A Holder shall register the transfer of or exchange Notes in
accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as
permitted by the Indenture. The Registrar need not register the transfer of or exchange of any Notes or portions thereof selected for redemption. 
 (9) Persons Deemed Owners. The registered Holder of a Note shall be treated as the owner of it for all purposes. 
 (10) Unclaimed Money. If money for the payment of principal or interest remains unclaimed for one year, the Trustee and the Paying Agent will pay the money back to the Issuer. After that, all
liability of the Trustee and such Paying Agent with respect to such money shall cease. 
 (11) Amendment; Supplement;
Waiver. The Indenture, the Intercreditor Agreement, this Note and the other Note Documents may be modified, waived or amended as provided in Article IX of the Indenture. 

(12) Defaults and Remedies. The Indenture contains various Events of Default, as provided in Section 6.1 of the
Indenture, which are subject to the provisions of Article VI of the Indenture. 

  
 A-6

 (13) Trustee Dealings with Issuer. The Trustee under the Indenture, in its individual
or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Issuer, its respective Subsidiaries or its respective Affiliates as if it were not the Trustee. 

(14) No Recourse Against Others. No partner, director, officer, employee or shareholder, as such, of the Issuer, as such, shall
have any liability for any obligations of the Issuer under the Note Documents or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and
releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 (15)
Authentication. This Note shall not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on this Note. 
 (16) Governing Law. This Note and the Indenture shall be governed by and construed in accordance with the laws of the State of New York. Each of the parties hereto agrees to submit to the
jurisdiction of the courts of the State of New York in any action or proceeding arising out of or relating to this Note. 

(17) Abbreviations and Defined Terms. Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such
as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

 (18) CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes as a convenience to the Holders of the Notes. No representation is made as to the accuracy of such numbers as printed on the Notes and reliance may be placed only on the
other identification numbers printed hereon. 
 (19) Reference to Indenture and Other Related Documents. Reference is
hereby made to the Indenture, the Security Documents, the Intercreditor Agreement and other Note Documents (copies of which are on file at the Corporate Trust Office of the Trustee) and all indentures and agreements supplemental thereto for a
description of the rights thereunder of the Holders of the Notes, the nature and extent of the security therefor, the rights, duties, protections and immunities of the Trustee and the rights and obligations of the Issuer thereunder, to all the
provisions of which the Holder, by acceptance hereof, assents and agrees. 
 The Issuer will furnish to any Holder of a Note
upon written request and without charge a copy of the Indenture, which has the text of this Note. Requests may be made to: GMX Resources Inc., 9400 North Broadway, Suite 600, Oklahoma City, OK 73114. 

  
 A-7

 ASSIGNMENT FORM 
 If you the Holder want to assign this Note, fill in the form below and have your signature guaranteed: 
 I or we assign and transfer this Note to: 
  

 
  

 
  

 
 (Print or type name, address and zip
code and 
 social security or tax ID number of assignee) 
 and irrevocably appoint
                                         
                                         
          , agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 
 Dated:                                
          Signed:
                                         
                                        

(Sign exactly as your name appears 
 on the other side of this Note) 
 Signature
Guarantee:                                       
                                         
         
  

  
 A-8

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.12 or Section 4.13 of the
Indenture, check the appropriate box: 
 Section 4.12 [      ]     
Change of Control Offer 
 Section 4.13 [      ]      Limitation on Sales
of Assets and Subsidiary Stock 
 If you want to elect to have only part of this Note purchased by the Issuer pursuant to
Section 4.12 or Section 4.13 of the Indenture, state the amount you elect to have purchased: 
  

									
	
$                        
                            
	 		  		  	
				
	Dated:	 	  
	 		  	  

		 		 		  		  	NOTICE: The signature on this assignment must correspond with the name as it appears upon the face of the within Note in every particular without alteration or enlargement or any
change whatsoever and be guaranteed.

 Signature
Guarantee:                                       
                                         
         

  
 A-9

 EXHIBIT B 

FORM OF INTERCREDITOR AGREEMENT 
 [See Attached] 

  
 B-1SECURITY AGREEMENT, DATED AS OF SEPTEMBER 19, 2012

 Exhibit 4.3 
 SECOND-PRIORITY SECURITY AGREEMENT 
 THIS SECOND-PRIORITY SECURITY
AGREEMENT (“Agreement”), dated as of September 19, 2012, is made between GMX RESOURCES INC., an Oklahoma corporation (the “Issuer”) and U.S. BANK NATIONAL ASSOCIATION (the “Collateral Agent”),
who agree as follows: 
 RECITALS 
 A. The Issuer is or will be indebted unto the Holders of Notes issued under that certain Indenture dated as of September 19, 2012, by and among the Issuer, the Collateral Agent and the Trustee (such
Indenture, and as the same may from time to time be amended, modified, or supplemented, and all other agreements given in substitution therefor, or in renewal, extension or restatement thereof, in whole or in part, being herein called the
“Indenture”). 
 B. In order to induce the Collateral Agent to enter into the Indenture and the Secured
Hedge/LC Providers to enter into the Secured Hedge/LC Agreements (as defined below) and to secure the full and punctual payment and performance of the Secured Obligations (as defined below), the Issuer has agreed to enter into, execute and deliver
this Agreement and to pledge, deliver and grant a continuing security interest in and to the Collateral (as defined below). 

AGREEMENT 

ARTICLE 1 

GENERAL TERMS 

Section 1.1 Terms Defined Above or Elsewhere. As used in this Agreement, the terms “Collateral Agent”,
“Agreement”, “Issuer”, and “Indenture” shall have the meanings indicated above. Unless otherwise defined herein, terms defined in the Indenture and used herein shall have the meanings given to them in the Indenture. The
following terms which are defined in the Uniform Commercial Code in effect in the State of New York on the date hereof are used herein as so defined: Chattel Paper, Commercial Tort Claim, Deposit Account, Document, Equipment, General Intangible,
Instrument, Inventory, Investment Property, Letter-of-Credit Rights, Proceeds, Promissory Note, Securities Account and Supporting Obligations. 
 Section 1.2 Certain Definitions. As used in this Agreement, the following additional terms shall have the meanings indicated: 

“Accounts” means all “accounts” (as defined in the UCC) now owned or hereafter acquired by the Issuer, and
shall also mean and include all accounts receivable, notes, notes receivable, instruments, drafts, acceptances, book debts and similar documents and other monies, obligations or indebtedness owing or to become owing to the Issuer arising from the
sale, lease or exchange of goods or other property by the Issuer or the performance of services by the Issuer or under any contracts for any of the foregoing (whether or not yet earned by performance on the part of the Issuer), in each case whether
now in existence or hereafter arising or acquired. 

 “Article 8 Matter” means any action, decision, determination or election by
Gathering LLC or its member(s) that the membership or other ownership interests in Gathering LLC, or any of them, be, or cease to be, a “security” as defined in and governed by Article 8 of the UCC. 

“Collateral” has the meaning set forth in Section 2.1 of this Agreement. 

“Contracts” means all natural gas gathering, dehydration, transportation, marketing or sales contracts to which the
Issuer is a party now or hereafter, and all amendments, modifications, replacements and substitutions to any of the foregoing. 

“Diamond” means Diamond Blue Drilling Co., an Oklahoma corporation. 

“Disclosure Package” means the Offering Memorandum, dated August 9, 2012, as supplemented from time to time
(together with the documents incorporated by reference therein, the “Offering Memorandum”), together with the form of Indenture, the Security Documents, and the Intercreditor Agreement. 

“Endeavor” means Endeavor Pipeline Inc., an Oklahoma corporation. 

“Event of Default” means the occurrence of an Event of Default as defined in the Indenture or any Secured Hedge/LC
Agreement. 
 “Excluded Property” means collectively: (a) any Pledged Stock or Pledged Membership Interest
of any Subsidiary to the extent that and for so long as the pledge of such Pledged Stock to secure the Secured Obligations would cause such Subsidiary to be required to file separate financial statements with the Securities Exchange Commission
pursuant to Rule 3-16 of Regulation S-X under the Securities Act; (b) all Vehicles with individual Fair Market Values below $100,000 (“Excluded Vehicles”); provided, that to the extent that the Issuer or any Subsidiary
acquires any Vehicles and, following such acquisition(s), the aggregate Fair Market Values of all titled vehicles with individual Fair Market Values below $100,000 shall exceed $5.0 million, such Vehicles shall not be Excluded Vehicles; (c) any
Equipment subject to a purchase money security interest or equipment lease (“Encumbered Equipment”) if and to the extent that the creation of a security interest in the right, title or interest of the Issuer in the Encumbered
Equipment would cause or result in a default under any contractual provision or other restriction, but only to the extent that the aggregate purchase price of the Encumbered Equipment does not exceed $1,000,000; (d) any rights or interest in
any contract, license, permit or franchise covering real or personal property of the Issuer if, under the terms of the contract, license, permit or franchise or applicable Law, the grant of a security interest or other Lien therein is prohibited as
a matter of Law, or under the terms of the contract, license, permit or franchise and that prohibition has not been effectively waived or the consent of the other party(ies) to such contract, license, permit or franchise has not been obtained, but
the foregoing exclusions in no way will be construed (i) to apply to the extent that any described prohibition is unenforceable under Section 9-406, 9-407, 9-408, 

  
 2 

 
or 9-409 of the UCC (as same may be limited by other applicable Law) or other applicable Law, or (ii) to limit, impair or otherwise affect the continuing security interests of the Secured
Parties in and liens upon any rights or interests of the Issuer in or to (A) monies due or to become due under any described contract, license, permit or franchise (including any Accounts), or (B) any proceeds from the sale, license,
lease, or other dispositions of any such contract or license; (e) leasehold interests; (f) letter of credit rights with an aggregate value not exceeding $500,000; (g) commercial tort claims with an aggregate value not exceeding
$500,000; and (h) “intent to use” trademark applications. 
 “Gathering LLC” means Endeavor
Gathering LLC, a Delaware limited liability company. 
 “Goods” means all Equipment and other tangible personal
property now owned or hereafter acquired by the Issuer. 
 “Holder” means a holder of any of the Notes.

 “Intercreditor Agreements” means collectively, the Intercreditor Agreement as defined in the Indenture and
any intercreditor agreement to which the Issuer (or any subsidiary thereof) is a party and in effect from time to time with respect to a Permitted Commodity Hedging Obligation, a Permitted Other Hedging Obligation or a Permitted Letter of Credit
Facility as permitted under the Indenture. 
 “Management Rights” means the right to manage the affairs of
Gathering LLC under the Operating Agreement, including, without limitation, the power to make determinations, to exercise any election (including, but not limited to, election of remedies, the filing of any petition for reorganization or dissolution
of Gathering LLC and the exercise of Gathering LLC’s rights as debtor-in-possession in the event Gathering LLC files a petition under Title 11 of the United States Code), or option, to vote or otherwise participate in any election of one or
more members of the managing body thereof or any other decision, to give or receive any notice, consent, amendment, waiver or approval, together with full power and authority to demand, receive, enforce, execute, endorse or cash any checks or other
payments, or other instruments or orders, to file any claims and to take any action that in the opinion of the Collateral Agent may be necessary or advisable in connection with any of the foregoing. 

“Material Adverse Effect” means a material adverse effect on the condition (financial or otherwise), results of
operation, equity, properties, business or the Collateral of the Issuer and its Subsidiaries, taken as a whole. 

“Notes” shall mean (a) those certain senior secured second-priority notes due 2018 issued under the Indenture,
(b) any additional notes issued under the Indenture by the Issuer, to the extent permitted under the Indenture and other Note Documents, and (c) any and all other notes given in substitution for, or in modification, amendment, renewal or
extension of, any of the foregoing, in whole or in part. 

  
 3 

 “Note Documents” means the Notes, the Intercreditor Agreements, the
Security Documents, and each of the other agreements, documents and instruments executed pursuant thereto, and delivered to the Trustee by or on behalf of the Issuer, to the extent such are effective at the relevant time, as each may be amended,
restated, supplemented, modified, renewed, extended or refinanced, in whole or in part, from time to time in accordance with the provisions of this Agreement, the Indenture and the Intercreditor Agreements. 

“Operating Agreement” means the limited liability company (operating) agreement of Gathering LLC, together with all
amendments dated prior to the effective date of this Agreement. 
 “Percentage Share” means the sixty percent
(60%) member equity interest currently held by the Issuer in Gathering LLC, or the Issuer’s share of cash distributions, or Issuer’s share of liquidating distributions, each as set out in the Operating Agreement. 

“Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint
stock company, trust, unincorporated organization, government or any agency or political subdivision thereof, or any other form of entity. 
 “Pledged Stock” means collectively: 
 (a) all common stock or
other equity interests in Endeavor, including 1,000 shares of the common stock of Endeavor represented by Certificate No. 1, dated April 9, 1998, registered in the Issuer’s name, together with any additional shares of Endeavor issued
hereafter as stock dividends, stock splits or otherwise, or shares received as a result of any merger or consolidation of Endeavor, all rights of any nature whatsoever which may be issued or granted by Endeavor to the Issuer, all right, title and
interest of the Issuer as a shareholder of Endeavor including without limitation the right to vote, all certificates and instruments representing or evidencing all such shares and rights, all cash, liquidation and other dividends now or hereafter
declared thereon, all stock redemption payments and all other monies due or to become due thereunder, all stock warrants and other rights to subscribe to securities now or hereafter incident thereto or declared or granted in connection therewith,
and all distributions (cash or property) made or to be made in connection therewith or incident thereto, and together with all proceeds of all or any of the foregoing, in whatever form; and 

(b) all common stock or other equity interests in Diamond, including 10,000 shares of the common stock of Diamond represented by
Certificate No. 1, dated December 7, 2005, registered in the Issuer’s name, together with any additional shares of Diamond issued hereafter as stock dividends, stock splits or otherwise, or shares received as a result of any merger or
consolidation of Diamond, all rights of any nature whatsoever which may be issued or granted by Diamond to the Issuer, all right, title and interest of the Issuer as a shareholder of Diamond including without limitation the right to vote, all
certificates and instruments representing or evidencing all such shares and rights, all cash, liquidation and other dividends now or hereafter declared thereon, all stock redemption 

  
 4 

 
payments and all other monies due or to become due thereunder, all stock warrants and other rights to subscribe to securities now or hereafter incident thereto or declared or granted in
connection therewith, and all distributions (cash or property) made or to be made in connection therewith or incident thereto, and together with all proceeds of all or any of the foregoing, in whatever form. 

“Pledged Membership Interests” means all of the membership or other ownership interests in Gathering LLC, now or
hereafter owned directly or beneficially by the Issuer, including without limitation (i) any additional membership or other interest in Gathering LLC that the Issuer acquires or has the right to acquire from time to time in any manner in
substitution for or in addition to the foregoing, (ii) all options at any time existing with respect to such interests, (iii) all rights of any nature whatsoever which may be issued or granted by Gathering LLC to the Issuer, (iv) all
right, title and interest of the Issuer in, to and under the Operating Agreement or otherwise as a member of Gathering LLC, including without limitation any interest therein which entitles the Issuer to (x) share in the revenue, income or
profits thereof or (y) Management Rights, (v) all certificates and instruments representing or evidencing all such interests and rights, (vi) all cash, property, liquidation and other payments, reimbursements, profits and
distributions (cash or property) now or hereafter declared, granted or otherwise paid or payable in connection therewith (including without limitation specific properties of Gathering LLC upon dissolution or otherwise) and all other monies due or to
become due incident thereto, and (vii) all additions to or replacements for any of the foregoing, and together with all proceeds of any of the foregoing, in whatever form, and all proceeds of such proceeds. Without limiting the generality of
the foregoing, the Percentage Share is specifically included as Collateral. Furthermore, the foregoing is intended to be included as Collateral whether characterized under any pertinent UCC or other applicable laws as a “general
intangible”, “uncertificated security”, “certificated security” or otherwise. 

“Receivable” means any right to payment for goods sold or leased or for services rendered, whether or not such right is
evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including, without limitation, any Account). 
 “Secured Hedge/LC Agreement” shall mean an agreement entered into by the Issuer or any subsidiary thereof establishing a Permitted Commodity Hedging Obligation or a Permitted Letter of
Credit Facility and expressly providing that such agreement will be secured by the Lien on the Collateral granted under this Agreement. 
 “Secured Hedge/LC Providers” shall mean a party (other than the Issuer or any subsidiary thereof) to any Secured Hedge/LC Agreements. 

“Secured Obligations” means (1) all present and future amounts, liabilities or obligations of the Issuer to the
Collateral Agent or any Holder or to any successor or transferee of the Notes, this Agreement or the other Note Documents, and (2) all present and future liabilities or obligations of the Issuer to any Secured Hedge/LC Provider under any
Secured Hedge/LC Agreement, in each case whether said amounts, liabilities or obligations are liquidated or unliquidated, absolute or contingent, now existing or 

  
 5 

 
hereafter arising, and including without limitation the Notes, and all other promissory notes heretofore or hereafter executed by the Issuer pursuant to the Indenture, in principal, interest,
deferral and delinquency charges, prepayment premiums, costs and attorneys’ fees to the extent not prohibited by applicable law, as therein stipulated, and under and pursuant to all amendments, supplements and restatements to any of said
documents. The Secured Obligations include without limitation all other amounts for which the Issuer is obligated under the terms of this Agreement to the Collateral Agent. The Secured Obligations also include, without limitation, all post petition
interest, expenses, and other duties and liabilities with respect to indebtedness or other obligations described above, which would be owed but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy,
reorganization, or similar proceeding. The Secured Obligations secured by this Agreement further continue with respect to any renewals, modifications, amendments, revisions or extensions of the Secured Obligations. 

“Secured Parties” shall mean collectively the Collateral Agent, the Trustee, the Holders and the Secured Hedge/LC
Providers. 
 “Securities Act” means the Securities Act of 1933, as amended and in effect from time to time.

 “Security Documents” shall mean collectively all Mortgages, pledges, security agreements and other documents
by which the Issuer or any Affiliate thereof grants Liens and security interests to the Collateral Agent to secure the Secured Obligations. 
 “Security Interests” shall mean the security interests in the Collateral granted hereunder securing the Secured Obligations. 

“Subsidiary” means each of Endeavor, Diamond, or Gathering LLC. 

“UCC” means the Uniform Commercial Code in the State of New York, as amended from time to time; provided that if by
reason of mandatory provisions of law, the perfection or the effect of perfection or non-perfection of the Security Interests in any Collateral or the remedies pertaining thereto is governed by the Uniform Commercial Code as in effect in a
jurisdiction other than New York, “UCC” means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such perfection or effect of perfection or non-perfection or such remedies.

 “Vehicles” means all vehicles covered by a certificate of title law of any State. 

ARTICLE 2 

SECURITY INTEREST 

Section 2.1 The Security Interests. In order to secure the full and punctual payment and performance of all present and
future Secured Obligations, the Issuer hereby grants to the Collateral Agent, for itself and the ratable benefit of the 

  
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Secured Parties, a continuing security interest in and to all right, title and interest of the Issuer in, to or under the following property, whether now owned or existing or hereafter acquired
or arising and regardless of where located: 
 (i) all Accounts; 

(ii) all Chattel Paper; 
 (iii) all Contracts; 
 (iv) all Deposit Accounts; 

(v) all Documents; 
 (vi) all Equipment and all other Goods; 
 (vii) all General Intangibles;

 (viii) all Instruments; 
 (ix) all Inventory; 
 (x) all Investment Property; 

(xi) all Letter-of-Credit Rights; 
 (xii) without limiting the generality of the foregoing, all Pledged Stock, all Receivables and all Vehicles; 
 (xiii) all geological, geophysical, engineering, seismic, reserve, production, accounting, title and legal data, reports and information and all books and records (including, without limitation, customer
lists, credit files, computer programs, tapes, disks, punch cards, data processing software, transaction files, master files, printouts and other computer materials and records) of the Issuer pertaining to any of the Collateral; 

(xiv) all other property not otherwise described above; and 
 (xv) all Proceeds and products of all or any of the Collateral described in clauses (i) through (xiv) hereof and all Supporting Obligations with respect to any of the foregoing. 

The term “Collateral” means each and all of the items and property rights described in clauses (i) through (xv) above;
provided, however, that “Collateral” shall not include any Excluded Property; and provided, further, that if any Excluded Vehicle would have otherwise constituted Collateral, when such property shall cease to be
Excluded Vehicle, such vehicle shall be deemed at all times from and after the date hereof to constitute Collateral. 

  
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 Section 2.2 Limitation of Liability; Indemnity. The Security Interests are
granted as security only and shall not subject the Collateral Agent to, or transfer or in any way affect or modify, any obligation or liability of the Issuer with respect to any of the Collateral or any transaction in connection therewith. The
Collateral Agent, each of the other Secured Parties and any successor or assign thereof are hereby absolved from all liability for failure to collect against the Issuer and from all other responsibility in connection therewith, except the
responsibility of each to account (by application upon the Secured Obligations or otherwise) to the Issuer for payments actually received. The Issuer agrees to indemnify and hold harmless the Collateral Agent and the Trustee against any and all
liabilities, actions, claims, judgments, costs, charges and attorneys’ fees by reason of any third party claim to the Collateral, and the Collateral Agent shall have the right to defend against any such third party claims or actions, employing
attorneys of the Collateral Agent’s own selection and if not furnished with indemnity satisfactory to them, the Collateral Agent shall have the right to compromise and adjust any such claims, actions and judgments, and in addition to the rights
to be indemnified as herein provided, all amounts paid by the Collateral Agent in compromise, satisfaction or discharge of any such claims, actions or judgments, and all court costs, attorneys’ fees and other expenses of every character
expended by the Collateral Agent pursuant to the provisions of this Section 2.2 shall be a demand obligation (which obligation the Issuer hereby expressly promises to pay) owing by the Issuer and shall be a part of the Secured
Obligations. The Issuer agrees to pay, indemnify, and hold the Collateral Agent and the Trustee harmless from and against any and all other liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Agreement and the other Note Documents. WITHOUT LIMITATION, IT IS THE INTENTION OF ISSUER AND ISSUER AGREES
THAT THE FOREGOING RELEASES AND INDEMNITIES SHALL APPLY TO EACH INDEMNIFIED PARTY WITH RESPECT TO ALL CLAIMS, DEMANDS, LIABILITIES, LOSSES, DAMAGES (INCLUDING WITHOUT LIMITATION CONSEQUENTIAL DAMAGES, CAUSES OF ACTION, JUDGMENTS, PENALTIES, COSTS
AND EXPENSES AND FURTHER INCLUDING WITHOUT LIMITATION REASONABLE ATTORNEYS’ FEES AND EXPENSES, WHICH IN WHOLE OR IN PART ARE CAUSED BY OR ARISE OUT OF STRICT LIABILITY OR OUT OF THE NEGLIGENCE OF SUCH (AND/OR ANY OTHER) INDEMNIFIED PARTY.
However, such indemnities and releases shall not apply to any particular indemnified party (but shall apply to the other indemnified parties) to the extent the subject of the indemnification is caused by or arises out of the gross negligence or
willful misconduct of such particular indemnified party. 
 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 
 On the date hereof, the Issuer represents and warrants to the Collateral Agent that: 
 Section 3.1 Basic Representations. (a) The Issuer (w) is duly organized, validly existing and in good standing under the laws of the State of Oklahoma,

  
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(x) has the corporate power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently
engaged, (y) is duly qualified as a foreign corporation and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification and (z) is in
compliance with all requirements of law except to the extent that the failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) The Issuer has the corporate power and authority, and the legal right, to make, deliver and perform this Agreement and has taken all
necessary corporate action to authorize the execution, delivery and performance of this Agreement. No consent or authorization of, filing with, notice to or other act by or in respect of, any governmental authority or any other Person is required in
connection with the execution, delivery, performance, validity or enforceability of this Agreement. This Agreement has been duly executed and delivered on behalf of the Issuer. This Agreement constitutes a legal, valid and binding obligation of the
Issuer enforceable against the Issuer in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally,
general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 
 (c) The execution, delivery and performance of the Note Documents to which the Issuer is a party will not violate any requirement of law or contractual obligation of the Issuer or of any of its
subsidiaries and will not result in, or require, the creation or imposition of any Lien on any of its or their respective properties or revenues pursuant to any such requirement of law or contractual obligation (other than pursuant to this
Agreement). 
 (d) No litigation, investigation or proceeding of or before any arbitrator or governmental authority is pending
or, to the knowledge of the Issuer, threatened by or against the Issuer or any of its affiliates or against any of its or their respective properties or revenues (x) with respect to any of the Note Documents or any of the transactions
contemplated hereby or thereby, or (y) which could reasonably be expected to have a Material Adverse Effect. 

Section 3.2 Title. The Issuer has good title to its personal property as described in the Disclosure Package as owned by it,
in each case free and clear of all liens, claims, security interests, equities, or other encumbrances except those (a) described in the Disclosure Package or (b) that do not materially interfere with the use or value of such properties
taken as a whole as described in the Disclosure Package, or (c) that would not have a Material Adverse Effect or would be permitted pursuant to the Indenture. 
 Section 3.3 No Liens. Other than financing statements or other similar or equivalent documents or instruments with respect to the Security Interests and Permitted Liens, no financing
statement, mortgage, security agreement or similar or equivalent document or instrument covering all or any part of the Collateral is on file or 

  
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of record in any jurisdiction in which such filing or recording would be effective to perfect a Lien on such Collateral. No Collateral is in the possession of any Person (other than the Issuer)
asserting any claim thereto or security interest therein, except that the Collateral Agent or its designee may have possession of the Collateral as contemplated hereby. 
 Section 3.4 Perfected Second Priority Liens. The Security Interests granted pursuant to this Agreement (a) constitute valid security interests in all of the Collateral in favor of the
Secured Parties, as collateral security for the Secured Obligations, enforceable in accordance with the terms hereof against all creditors of the Issuer and any Persons purporting to purchase any Collateral from the Issuer, (b) in all
Collateral in which a security interest may be perfected by the filing of a financing statement under the UCC will be perfected upon the filing of an appropriate financing statement with the Secretary of State of the State of Oklahoma, and
(c) are prior to all other Liens on the Collateral, subject to certain Permitted Liens that may rank higher in priority to the Security Interests pursuant to the Indenture and the Intercreditor Agreements. 

Section 3.5 Jurisdiction of Organization; Location of Collateral. (i) On the date hereof, the Issuer is organized under
the laws of the State of Oklahoma. (ii) The exact name of the Issuer as it appears in its articles of incorporation is as it appears on page 1 of this Agreement. The Issuer has used no other names (including trade names or similar
appellations) at any time during the past five years. (iii) The Oklahoma Secretary of State does not assign an organizational identification number to the Issuer. (iv) The chief executive office of the Issuer is located at 9400 North
Broadway, Suite 600, Oklahoma City, Oklahoma 73114, and has been located continuously in the State of Oklahoma since the date of Issuer’s formation. 
 Section 3.6 Accounts. Except as could not reasonably be expected to have a Material Adverse Effect or is otherwise specified in the Indenture, the Accounts represent bona fide obligations of
the respective account debtors, are free and clear of any set off, compensation, counterclaim, defense, allowance or adjustment, other than discounts for prompt payment shown on the invoice, and arose in the ordinary course of the Issuer’s
business. 
 Section 3.7 Pledged Stock. (a) Schedule 3.7 sets forth a complete and accurate list of all Pledged
Stock held by the Issuer as of the date hereof. 
 (b) The shares of Pledged Stock pledged by the Issuer hereunder constitute
all the issued and outstanding shares of all classes of the capital stock of each Subsidiary that is a corporation owned by the Issuer. All the shares of the Pledged Stock have been duly and validly issued and are fully paid and nonassessable.

 (c) The Issuer is the record and beneficial owner of, and has good title to, the Pledged Stock pledged by it hereunder, free
of any and all Liens or options in favor of, or claims of, any other Person, except the Security Interests created by this Agreement and the Liens securing the Senior Obligations. 

  
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 Section 3.8 [Reserved]. 

Section 3.9 Deposits Accounts; Securities Accounts. Schedule 3.9 lists (i) all Deposit Accounts and Securities Accounts
of the Issuer on the date hereof in which the amounts on deposit or which are held in such accounts exceed $25,000 and (ii) other Deposit Accounts and Securities Accounts such that the aggregate amounts on deposit or which are held in such
accounts that are not listed on such schedule do not exceed $500,000. 
 Section 3.10 Commercial Tort Claims. On the
date hereof, the Issuer does not hold any Commercial Tort Claims which may reasonably result in awarded damages (less any and all legal and other expenses incurred or reasonably expected to be incurred by the Issuer) in the aggregate in excess of
$500,000 that are not listed on Schedule 3.10. 
 Section 3.11 Letter-of-Credit Rights. On the date hereof, the
Issuer is not the beneficiary under any letters of credit with a face amount in the aggregate in excess of $500,000 issued in favor of the Issuer that are not listed on Schedule 3.11. 

Section 3.12 Material Collateral. The Issuer does not own, or have any other right or interest in, any asset or property
included in the Collateral that cannot be perfected in the manner described in this Agreement (collectively, “Non-Perfected Assets”), except for Non-Perfected Assets which in the aggregate are not material to the Issuer and its
Subsidiaries taken as a whole. 
 Section 3.13 [Reserved]. 

Section 3.14 [Reserved]. 
 Section 3.15 Concerning Gathering LLC. (a) The Issuer is not in default in any material respect of any of the terms of the Operating Agreement. No restrictions or conditions exist with
respect to the registration, transfer, voting or capital of the Issuer’s membership interest in Gathering LLC other than as set forth in the Operating Agreement as in effect on the date hereof, this Agreement and any laws regulating such
membership interest, including any applicable federal or state securities laws. Gathering LLC has no outstanding rights, rights to subscribe, options, warrants, or convertible securities, outstanding or any other rights outstanding whereby any
Person would be entitled to acquire any ownership interest of Gathering LLC, except as set forth in this Agreement. 
 (b)
Gathering LLC has opted into Article 8 of the UCC; provided, however, that the membership or other ownership interests in Gathering LLC constituting Collateral hereunder shall be deemed “securities” for purposes of UCC
compliance only and the Issuer acknowledges and agrees that the act of opting into Article 8 of the UCC alone does not categorize such interests as “securities” under any federal investment company laws or federal or state securities laws.

  
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 ARTICLE 4 
 COVENANTS 
 Section 4.1 General Covenants. (a) Without the prior
written consent of the Collateral Agent, unless permitted by the Indenture, the Issuer shall not (i) sell, assign, transfer, exchange or otherwise dispose of, or grant any option with respect to, the Collateral or any interest therein,
(ii) create, incur or permit to exist any Lien or option in favor of, or any claim of any Person with respect to, any of the Collateral or any interest therein or (iii) enter into any agreement or undertaking restricting the right or
ability of the Issuer or the Collateral Agent to sell, assign or transfer or vote any of the Collateral or any interest therein. 
 (b) In addition, the Issuer shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Event of Default is caused
by the failure to take such action or to refrain from taking such action by the Issuer. 
 (c) As of the date hereof, the Issuer
owns a 60% member interest in Gathering LLC. The Pledged Membership Interests pledged by the Issuer hereunder constitute all of the issued and outstanding member interests of Gathering LLC owned by the Issuer. All of the Pledged Membership Interests
have been duly and validly issued and are fully paid. The Issuer is the record and beneficial owner of, and has good title to, the Pledged Membership Interests pledged by it hereunder, free of any and all Liens or options in favor of, or claims of,
any other Person, except the Security Interests created by this Agreement, the Liens securing the Senior Obligations, and the Liens, options or claims set forth in the Operating Agreement. 

(d) The Liens hereunder are subject to certain Permitted Liens that exist on the date hereof (including, without limitation, subject and
subordinate to the Conveyance of Term Overriding Royalty Interest, dated as of December 8, 2011, from the Issuer to EDF Trading North America, LLC and the Mortgage and Deed of Trust, dated as of December 8, 2011, from the Issuer to EDF
Trading North America, LLC, which have been made effective and filed prior to the date hereof). 
 Section 4.2 Notice of
Changes. (a) The Issuer shall not (i) change its name, identity, identification number or corporate structure in any manner, or (ii) change the location of its chief executive office or chief place of business, unless it shall
have given the Collateral Agent at least 30 days’ prior written notice thereof and delivered all additional financing statements and other documents reasonably requested by the Collateral Agent to maintain the validity, perfection and priority
of the Security Interests created herein. 
 (b) The Issuer shall notify the Collateral Agent promptly, in reasonable detail, of
any Lien (other than security interests created hereby or Liens permitted under the Indenture) on any of the Collateral; and of the occurrence of any other event which could reasonably be expected to have a Material Adverse Effect on the Security
Interests created hereby. 

  
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 Section 4.3 Insurance and Notice. (a) The Issuer shall provide or cause to
be provided insurance (including appropriate self-insurance) against loss or damage of the kinds that, in the good faith judgment of the Issuer, are adequate and appropriate for the conduct of the business of the Issuer in a prudent manner, with
reputable insurers or with the government of the United States of America, Canada or an agency or instrumentality thereof, in such amounts, with such deductibles, and by such methods as shall be customary, in the good faith judgment of the Issuer,
for companies similarly situated in the industry. Within 30 days after the date hereof, the Issuer shall furnish to the Collateral Agent policies or certificates of insurance covering the property and assets of the Issuer. Each policy shall:
(x) reflect the Collateral Agent, for its benefit and the benefit of the other Secured Parties, as additional insured and loss payee and mortgagee and shall otherwise bear endorsements of the character reasonably acceptable to the Collateral
Agent; (y) contain an agreement by the insurer, if available at reasonable cost, not to cancel, amend, materially reduce the amount or materially change the coverage under the policy without giving the Collateral Agent at least thirty
(30) days prior written notice of its intention to do so and (z) if reasonably requested by the Collateral Agent, include a breach of warranty clause. The Issuer shall furnish or cause to be furnished to the Collateral Agent from time to
time, and in no event less than once per calendar year, a compliance certificate from an independent third-party insurance consultant with experience in the Oil and Gas Business certifying that the insurance with respect to the Collateral is in full
force and effect and that it fully complies with requirements that are customary in the Oil and Gas Business. In the event the Issuer should, for any reason whatsoever, fail to keep the Collateral or any part thereof so insured, then the Collateral
Agent, if it so elects, may itself have such insurance effected in such amounts and with such companies as it may deem proper and may pay the premiums therefor and the Issuer shall reimburse the Collateral Agent upon demand for the amount of the
premiums paid, together with interest thereon until paid at the rate equal to the rate of interest charged on the principal of any of the Notes plus one (1%). The Collateral Agent shall not be responsible for the solvency of any company issuing any
insurance policy, whether or not selected or approved by it, or for the collection of any amounts due under any such policy, and shall be responsible and accountable only for such money as may be actually received by the Collateral Agent. The Issuer
shall promptly notify the Collateral Agent if any portion of the “Collateral” (as such term is defined in the Indenture) in excess of $1,500,000 is physically damaged, destroyed or condemned; provided that the foregoing shall not include
damages to wells or well bores or oil and gas properties incurred in the ordinary course of business of drilling or producing such properties in an aggregate amount of less than $5,000,000. In the event of any loss under any of such policies, the
Collateral Agent shall pay the net proceeds thereof to the Issuer, either wholly or in part, unless an Event of Default has occurred and is continuing, in which event, but subject to the terms of the Intercreditor Agreements, the Collateral Agent
may hold the net proceeds as additional Collateral or pay the net proceeds to the Issuer under such conditions as the Collateral Agent may determine to enable the Issuer to repair or restore the Collateral. In the event of foreclosure of this
Mortgage or other transfer of title to the Mortgaged Property following an Event of Default, all right and interest of the Issuer in and to any property insurance policies then in force shall pass to the Collateral Agent. 

  
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 (b) Within 30 days after the date hereof, the Collateral Agent shall have received, with
respect to this Agreement, policies or certificates of insurance covering the property and assets of the Issuer for the benefit of the Collateral Agent and the other Secured Parties (as defined in the Security Documents), as additional insured and
loss payee. 
 Section 4.4 Payment of Taxes and Other Claims. The Issuer shall pay or discharge or cause to be paid
or discharged, before the same shall become delinquent, (i) all material taxes, assessments and governmental charges (including withholding taxes and any penalties, interest and additions to taxes) levied or imposed upon it or any of its
Restricted Subsidiaries or properties of it or any of its Subsidiaries and (ii) all material lawful claims for labor, materials and supplies that, if unpaid, might by law become a Lien upon the property of the Issuer or any of its Subsidiaries;
provided, however, that the Issuer shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate
negotiations or proceedings properly instituted and diligently conducted for which adequate reserves, to the extent required under GAAP, have been taken. 
 Section 4.5 Maintenance of Perfected Security Interest; Further Documentation. (a) The Issuer shall, and shall cause each of its subsidiaries to, do or cause to be done all acts and
things necessary to maintain the Security Interests created by this Agreement as perfected security interests having at least the priority described in Section 3.4 and shall defend such security interests against the claims and demands
of all Persons whomsoever, and shall maintain and preserve the Lien hereby created so long as any of the Secured Obligations remains unpaid. 
 (b) On request of the Collateral Agent, the Issuer shall promptly (i) correct any defect, error or omission which may be discovered in the contents of this Agreement or any financing statement
relating thereto or in the execution or acknowledgment of this Agreement or any financing statement; (ii) execute, acknowledge, deliver and record in any jurisdictions such further instruments (including, without limitation, further security
agreements, financing statements, continuation statements and assignments of proceeds) and do such further acts as may be necessary, desirable or proper to carry out more effectively the purposes of this Agreement and to more fully identify and
subject to the Security Interests hereof any property intended to be covered hereby, including without limitation any renewals, additions, substitutions, replacements or accessions to the Collateral; and (iii) execute, acknowledge, deliver and
record any document or instrument (including specifically any financing statement) necessary, desirable or proper in any jurisdictions to protect the Lien and Security Interest hereunder against the rights or interests of third persons. The Issuer
shall pay all costs connected with any of the foregoing. 
 (c) The Issuer shall furnish to the Collateral Agent from time to
time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as the Collateral Agent may reasonably request, all in reasonable detail. 

  
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 Section 4.6 Collateral Indemnity. If the validity or priority of this Agreement
or any rights, Security Interests or other interests created or evidenced hereby shall be attacked, endangered or questioned or if any legal proceedings are instituted with respect thereto, the Issuer shall give prompt written notice thereof to the
Collateral Agent and at the Issuer’s own cost and expense shall diligently endeavor to cure any defect that may be developed or claimed, and shall take all necessary and proper steps for the defense of such legal proceedings, and the Collateral
Agent (whether or not named as a party to legal proceedings with respect thereto) is hereby authorized and empowered to take such additional steps as in its judgment and discretion may be necessary or proper for the defense of any such legal
proceedings or the protection of the validity or priority of this Agreement and the rights, Security Interests and other interests created or evidenced hereby, and all expenses so incurred of every kind and character shall be a demand obligation
owing by the Issuer to the Collateral Agent and shall be a part of the Secured Obligations. 
 Section 4.7 Delivery of
Instruments and Chattel Paper. All (a) Promissory Notes issued by a subsidiary of the Issuer and held by the Issuer and (b) if any amount payable under or in connection with any of the other Collateral shall be or become evidenced by
any Instrument (other than checks received in the ordinary course of business) or Chattel Paper, such Instrument or Chattel Paper shall, subject to the terms of the Intercreditor Agreements, be immediately delivered to the Collateral Agent, duly
indorsed in a manner satisfactory to the Collateral Agent, to be held as Collateral pursuant to this Agreement, provided that so long as no Event of Default shall have occurred and be continuing, the Issuer may refrain from such delivery and may
retain possession of, for the purpose of collection in the ordinary course, any such instruments received by it in the ordinary course of business. 
 Section 4.8 Pledged Stock; Control Agreements. (a) If any Pledged Stock now owned or hereafter acquired by the Issuer are certificated securities and (i) are issued by the Issuer or
any Subsidiary thereof that is a corporation or (ii) issued by any other Person and not held in a Securities Account, the Issuer shall, subject to the terms of the Intercreditor Agreements, immediately deliver the certificates evidencing the
same to the Collateral Agent in the exact form received, duly indorsed by the Issuer to the Collateral Agent, if required, together with an undated stock power covering such certificate duly executed in blank by the Issuer and with, if the
Collateral Agent so requests, signature guaranteed, to be held by the Collateral Agent, subject to the terms hereof, as additional collateral security for the Issuer’s Secured Obligations. 

(b) Subject to the provisions in Section 4.21, if any Pledged Stock or Pledged Membership Interests now owned or hereafter
acquired by the Issuer are uncertificated securities and, in either case, (i) are issued by the Issuer or any Subsidiary thereof or (ii) issued by any other Person and not held in a Securities Account, the Issuer shall immediately notify
the Collateral Agent thereof and, at the Collateral Agent’s request and option, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, either (x) cause the issuer of such securities to agree to
comply with instructions from the Collateral Agent as to such securities, without further consent of the Issuer, or (y) arrange for the Collateral Agent to become the registered owner of the securities. 

  
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 (c) If the Issuer shall now or hereafter have rights in any Securities Accounts with any
securities intermediary, the Issuer shall immediately notify the Collateral Agent and, if such Securities Accounts have an aggregate value in excess of $500,000, at the Collateral Agent’s request and option, cause the securities intermediaries
maintaining such accounts to enter into one or more control agreements in form and substance reasonably satisfactory to the Collateral Agent under which they agree to comply with entitlement orders or other instructions originated by the Collateral
Agent to such securities intermediary as to the securities or other financial assets contained therein without consent from the Issuer, but only to the extent required so that no more than $500,000 of assets maintained in such accounts are not
subject to such control agreements. 
 (d) If the Issuer shall now or hereafter have rights in any Deposit Accounts maintained
with any bank, the Issuer shall immediately notify the Collateral Agent thereof and, if such Deposit Accounts contain funds in the aggregate in excess of $500,000, at the Collateral Agent’s request and option, cause such banks to enter into one
or more control agreements in form and substance reasonably satisfactory to the Collateral Agent under which they agree to comply with instructions to such bank originated by the Collateral Agent directing the disposition of funds in such Deposit
Accounts without consent from the Issuer, but only to the extent required so that no more than $500,000 of deposits in such accounts are not subject to such control agreements. 

(e) The Collateral Agent agrees with the Issuer that, subject to the terms of the Intercreditor Agreements, the Collateral Agent shall
not give any such entitlement orders, instructions or directions referred to in paragraph (b), (c) or (d) above to any issuer, securities intermediaries or banks, unless an Event of Default has occurred and is continuing, or, after giving
effect to any such investment and withdrawal rights, would occur. 
 (f) Except as provided in Section 5.4, the
Issuer shall be entitled to receive all cash dividends and distributions paid in respect of the Pledged Stock or the Pledged Membership Interests (except as liquidating or distributing dividends). Subject to the terms of the Intercreditor
Agreements, any sums paid upon or in respect of the Pledged Stock or the Pledged Membership Interests upon the liquidation or dissolution of any issuer shall be paid over to the Collateral Agent to be held by it hereunder as additional collateral
security for the Secured Obligations, and in case any distribution of capital shall be made on or in respect of the Pledged Stock or the Pledged Membership Interests or any property shall be distributed upon or with respect to the Pledged Stock or
the Pledged Membership Interests pursuant to the recapitalization or reclassification of the capital of any issuer or pursuant to the reorganization thereof, the property so distributed shall, unless otherwise subject to a perfected security
interest in favor of the Secured Parties, be delivered to the Collateral Agent to be held by it hereunder as additional collateral security for the Secured Obligations. If any sums of money or property so paid or distributed in respect of the
Pledged Stock or the Pledged 

  
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Membership Interests shall be received by the Issuer, the Issuer shall, until such money or property is paid or delivered to the Collateral Agent, hold such money or property in trust for the
Secured Parties, segregated from other funds of the Issuer, as additional collateral security for the Secured Obligations. 

Section 4.9 Receivables. Other than in the ordinary course of business consistent with its past practice, Issuer shall not
(a) grant any extension of the time of payment of any Receivable, (b) compromise or settle any Receivable for less than the full amount thereof, (c) release, wholly or partially, any Person liable for the payment of any Receivable,
(d) allow any refund, credit or discount whatsoever on any Receivable or (e) amend, supplement or modify any Receivable in any manner that could adversely affect the value thereof. The Issuer shall deliver to the Collateral Agent a copy of
each material demand, notice or document received by it that questions or calls into doubt the validity or enforceability of more than five percent (5%) of the aggregate amount of the then outstanding Receivables. 

Section 4.10 Filing. The Issuer authorizes the Collateral Agent to file or record financing statements, any amendments
thereto and other filing or recording documents or instruments with respect to the Collateral without the signature of the Issuer in such form and in such offices as the Collateral Agent reasonably determines appropriate to perfect the security
interests of the Secured Parties under this Agreement including, without limitation, any financing statement describing the collateral as “all assets,” “all personal property” or any similar description. A photographic or other
reproduction of this Agreement shall be sufficient as a financing statement or other filing or recording document or instrument for filing or recording in any jurisdiction. The Issuer shall pay all costs of or incidental to the recording or filing
of any financing statement, amendment, continuation, termination or other statements concerning the Collateral. 

Section 4.11 Equipment Not Fixtures. If, in the opinion of the Collateral Agent, any of the Equipment is or may become part
of any real property, the Issuer shall furnish to the Collateral Agent a written waiver by the record owner of such realty (immovable) of all interest in such Collateral and a written subordination to the Collateral Agent’s Security Interests
by any Person who has a Lien (other than a Permitted Lien) on such realty (immovable) which is or may be superior to the Collateral Agent’s Security Interests hereunder. 
 Section 4.12 Accounts Collection. The Issuer shall cause to be collected from its account debtors, as and when due in the ordinary course of business consistent with prudent business practice
(including, without limitation, Accounts which are delinquent, such Accounts to be collected in accordance with lawful collection procedures and generally accepted commercial collection procedures) and shall apply forthwith upon receipt thereof all
such amounts as are so collected to the outstanding balance of such Account, except that the Issuer may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or
defective goods and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in

  
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accordance with the Issuer’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including, without limitation,
attorneys’ fees) of collection, whether incurred by the Issuer or the Collateral Agent, shall be borne by the Issuer. 

Section 4.13 [Reserved]. 
 Section 4.14 Governmental Accounts. If more than 5% of the Accounts included in the Collateral is or becomes subject to the Federal Assignment of Claims Act, the Issuer shall immediately
notify the Collateral Agent thereof in writing and execute all instruments and take all steps reasonably required by the Collateral Agent to comply with that act. 
 Section 4.15 Right of Inspection and Information. The Issuer shall permit any officer, employee or the agent of the Collateral Agent to visit and inspect any of the Collateral, examine the
books of record and accounts of the Issuer, take copies and extracts therefrom, and discuss the affairs, finances and accounts of the Issuer with the Issuer’s officers, accountants and auditors, all at such reasonable times and on reasonable
notice and without hindrance and delay and as often as the Collateral Agent may reasonably desire. 
 Section 4.16
Letter-of-Credit Rights. If the Issuer is at any time a beneficiary under any letters of credit now or hereafter issued in favor of the Issuer in amounts in the aggregate in excess of $500,000, the Issuer shall promptly notify the Collateral
Agent thereof and, subject to the terms of the Intercreditor Agreements, the Issuer shall, at the request of the Collateral Agent, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, use commercially
reasonable efforts to either (i) arrange for the issuer and any confirmer of letters of credit to consent to an assignment to the Collateral Agent of the proceeds of any drawing under such letters of credit or (ii) arrange for the
Collateral Agent to become the transferee beneficiary of such letters of credit, with the Collateral Agent agreeing, in each case, that the proceeds of any drawing under such letters of credit are to be applied as provided in the Indenture, but only
to the extent necessary so that letters of credit not subject to such arrangements are for amounts not in excess of $500,000. 

Section 4.17 Commercial Tort Claims. If the Issuer shall at any time hold or acquire any Commercial Tort Claims which might
reasonably result in awarded damages (less any and all legal and other expenses incurred or reasonably expected to be incurred by the Issuer) in the aggregate in excess of $500,000, the Issuer shall promptly notify the Collateral Agent in writing
signed by the Issuer of the brief details thereof and grant to the Collateral Agent in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance
reasonably satisfactory to the Collateral Agent, but only to the extent necessary so that the anticipated damages under such commercial tort claims that are not subject to such arrangement are not in excess of $500,000. 

  
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 Section 4.18 Vehicles. Upon the reasonable request of the Collateral Agent
following the occurrence and during the continuance of an Event of Default, (a) within 30 days after the date of such request or (b) within 30 days after the acquisition by the Issuer of any Vehicle (other than Excluded Vehicles), if such
acquisition is subsequent to such request, the Issuer shall file all applications for certificates of title or ownership and any other necessary documentation to perfect the Secured Parties’ security interest in such vehicle. 

Section 4.19 Notice of Creation or Acquisition of Additional Collateral. Within 120 days after the end of each fiscal year,
the Issuer shall furnish the Collateral Agent with a certificate of a responsible financial or accounting officer of the Issuer, setting forth for such year: (a) any subsidiary formed or acquired by the Issuer; (b) any securities not held
in a Securities Account acquired by the Issuer; (c) any change in name or jurisdiction of organization by the Issuer; (d) any new location of Equipment and Inventory of the Issuer; (e) all debt instruments received by the Issuer;
(f) any Securities Accounts with an aggregate value in excess of $500,000 or any Deposit Accounts with an aggregate value in excess of $500,000, opened by the Issuer; and (g) all Vehicles (except for Excluded Vehicles) acquired by the
Issuer. 
 Section 4.20 Compliance with Laws. The Issuer shall observe and comply with all laws, statutes,
ordinances, rules, regulations, judgments, decrees, franchises, permits, licenses, certificates and requirements of all federal, state, parish, county, municipal and other governmental agencies, departments, commissions, boards, courts and
authorities applicable to the Issuer or to the Collateral, except for such noncompliances as could not singly or in the aggregate reasonably be expected to have a Material Adverse Effect or as otherwise specified pursuant to the Indenture.

 Section 4.21 Concerning Gathering LLC. (a) The Issuer shall not amend or waive or agree to amend or waive
any provision of Gathering LLC’s certificate of formation or Operating Agreement (including, without limitation, the provisions providing that the membership or other ownership interests in Gathering LLC are uncertificated securities under
Article 8 of the UCC), or otherwise enter into any further agreement pertaining to any of the Collateral or other membership or ownership interests of any type in Gathering LLC with any other member of Gathering LLC other than (i) an amendment
to Gathering LLC’s certificate of formation providing that $1,255,000 of a prior amount paid by the Issuer to Kinder Morgan Endeavor LLC is treated as a capital contribution from the Issuer to Gathering LLC and a capital distribution from
Gathering LLC to Kinder Morgan Endeavor LLC, (ii) other amendments to Gathering LLC’s certificate of formation or Operating Agreement that are not adverse in any material respect to the rights or economic interests of the Secured Parties,
or (ii) any agreement relating to an Expansion Project (as defined in the Operating Agreement). 
 (b) The Issuer shall not
consent to or permit its membership or other ownership interests in Gathering LLC to become certificated without the Collateral Agent’s prior written consent. Notwithstanding the foregoing, if any of the Pledged Membership Interest (whether now
owned or hereafter acquired) is or becomes certificated, the Issuer, upon request by the Collateral Agent, shall promptly take all 

  
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actions required to perfect the security interest of and grant “control” of the Pledged Membership Interest to the Collateral Agent under applicable law, including without limitation,
subject to the terms of the Intercreditor Agreements, to deliver the certificates or other instruments evidencing the Pledged Membership Interest to the Collateral Agent pursuant to Section 4.21(c) below and to cause Gathering LLC to
register the security interest granted by this Agreement upon its books and enter into a control agreement with the Collateral Agent, all in accordance with Article 8 of the UCC or Section 4.8 hereof, as applicable. 

(c) The Issuer shall not permit Gathering LLC to approve the issuance of, nor issue, membership interests as certificated securities
without at least thirty (30) days prior written notice to the Collateral Agent. In the event that at any time on or after the date hereof the Pledged Membership Interest is or shall be evidenced by one or more instruments or certificates, the
Issuer shall or shall cause Gathering LLC to: 
 (i) Subject to the terms of the Intercreditor Agreements, promptly deliver any
such instruments or certificates, duly indorsed or subscribed by the Issuer or accompanied by appropriate instruments of transfer or assignment duly executed in blank by the Issuer, to the Collateral Agent as additional Collateral. Any such
instruments or certificates received by the Issuer shall be held by the Issuer in trust, as agent for the Collateral Agent. 

(ii) Mark each such instrument or certificate with a legend reading as follows: 

“THE MEMBERSHIP INTERESTS EVIDENCED HEREBY ARE SUBJECT TO A SECURITY AGREEMENT WHICH CONTAINS RESTRICTIONS ON THE TRANSFER OF THE
MEMBERSHIP INTERESTS EVIDENCED HEREBY AND A GRANT OF IRREVOCABLE PROXY. BY ACCEPTING ANY INTEREST IN SUCH MEMBERSHIP INTERESTS THE PERSON HOLDING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID
AGREEMENT.” 
 The Issuer shall cause Gathering LLC to agree that, during the term of this Agreement, it shall not remove, and shall not
permit to be removed (upon registration of transfer, reissuance or otherwise), the legend from any such instrument or certificate and shall place or cause to be placed the legend on any new instrument or certificate issued to represent the Pledged
Membership Interest or any part thereof, whether or not theretofore represented by an instrument or certificate carrying a legend. 
 (d) [Reserved] 

  
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 ARTICLE 5 
 DEFAULT 
 Section 5.1 Use of Collateral. Unless an Event of Default
shall have occurred and be continuing and subject to the terms of the Intercreditor Agreements, the Issuer shall have the right (a) to remain in possession and retain exclusive control of the Collateral (other than anything constituting part of
the Collateral and required to be deposited in an account subject to the control of the Collateral Agent pursuant to Section 4.8 of this Agreement), (b) to retain exclusive control over the Collateral (except as otherwise provided
in this Agreement and the other Security Documents), (c) to freely operate the Collateral, (d) to alter or repair the Collateral, and (e) to collect, invest and dispose of any income from the Collateral. Upon an Event of Default that
has occurred and is continuing, to the extent permitted by law and the terms of the Intercreditor Agreement and after notice by the Collateral Agent to the Issuer, these rights shall cease, and the Collateral Agent shall be entitled to exercise
remedies in accordance with this Article 5. 
 Section 5.2 Remedies. Subject to the terms of the Intercreditor
Agreements: 
 (a) Upon the occurrence of any Event of Default, the Collateral Agent may take such action, without notice or
demand, as it deems advisable to protect and enforce its rights against the Issuer and in and to the Collateral, including, but not limited to, the following actions, each of which may be pursued concurrently or otherwise, at such time and in such
order as the Collateral Agent may determine, in its sole discretion, without impairing or otherwise affecting the other rights and remedies of the Collateral Agent: (i) institute proceedings for the complete foreclosure of this Agreement in
which case the Collateral or any part thereof may be sold for cash or upon credit in one or more portions; (ii) to the extent permitted and pursuant to the procedures provided by applicable law, institute proceedings for the partial foreclosure
of this Agreement for the portion of the Secured Obligations then due and payable, subject to the continuing Security Interests of this Agreement for the balance of the Secured Obligations not then due; (iii) institute an action, suit or
proceeding in equity for the specific performance of any covenant, condition or agreement contained in this Agreement, the Indenture, or any Secured Hedge/LC Agreement; (iv) recover judgment on the Notes or any other Secured Obligation either
before, during or after any proceedings for the enforcement of this Agreement; (v) apply for the appointment of a trustee, receiver, liquidator or conservator of the Collateral, without regard for the adequacy of the security for the Secured
Obligations and without regard for the solvency of the Issuer or of any person, firm or other entity liable for the payment of the Secured Obligations; or (vi) pursue such other remedies as the Collateral Agent may have under applicable law.

 (b) The proceeds or avails of any sale made under or by virtue of this Article 5, together with any other sums which may be
held by the Collateral Agent under this Agreement, whether under the provisions of this Article 5 or otherwise, shall be applied to the Secured Obligations in such manner as the Collateral Agent, in its sole discretion, shall determine. 

  
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 (c) Upon any sale made under or by virtue of this Article 5, the Collateral Agent may bid
for and acquire the Collateral or any part thereof and in lieu of paying cash therefor may make settlement for the purchase price by crediting upon the Secured Obligations the net sales price after deducting therefrom the expenses of the sale and
the costs of the action and any other sums which the Collateral Agent is authorized to deduct under this Agreement. 

Section 5.3 Proceeds; Receivables. Subject to the terms of the Intercreditor Agreements: 

(a) If an Event of Default shall have occurred and be continuing, (i) all payments (in the form of checks, drafts, cash or
otherwise) received by the Issuer in satisfaction, in whole or in part, of any Accounts, Receivables or General Intangibles (or Proceeds therefrom), when collected by the Issuer, shall be immediately (and, in any event, within one Business Day)
deposited by the Issuer in the exact form received, duly indorsed by the Issuer to the Collateral Agent if required, in an account subject to the control of the Collateral Agent pursuant to a control agreement; and (ii) until so deposited,
shall be held by the Issuer in trust for the Collateral Agent, segregated from other funds of the Issuer. All Proceeds and payments of Receivables while so controlled by the Collateral Agent (or by the Issuer in trust for the Collateral Agent) shall
continue to be held as a security interest in favor of the Collateral Agent and the Secured Parties to secure the Secured Obligations and shall not constitute payment thereof until applied as provided in clause (b) below. 

(b) Subject to the terms of the Intercreditor Agreement, if an Event of Default shall have occurred and be continuing, at any time at the
Collateral Agent’s election, the Collateral Agent may apply all or any part of the Proceeds constituting Collateral, whether or not held in a Deposit Account subject to the control of the Collateral Agent, in payment of the Secured Obligations
in such order as the Collateral Agent may elect, and any part of such funds which the Collateral Agent elects not so to apply shall continue to be held as Collateral for the Secured Obligations. Any balance of such Proceeds remaining after all
Events of Default have been cured or waived shall be paid over to the Issuer or to whomsoever may be lawfully entitled to receive the same. 
 Section 5.4 Pledged Stock; Pledged Membership Interests. Subject to the terms of the Intercreditor Agreements: 
 (a) Unless an Event of Default shall have occurred and be continuing and the Collateral Agent shall have given notice to the Issuer of the Collateral Agent’s intent to exercise its rights pursuant to
this Section 5.4(a), and subject to the provisions of Section 4.21(d), the Issuer shall be permitted to receive all cash dividends paid in respect of the Pledged Stock and the Pledged Membership Interests, paid in the normal course
of business of the relevant issuer and consistent with past practice, to the extent permitted in the Indenture, and to exercise all voting and corporate or other rights with respect to the Pledged Stock and Pledged Membership Interests;
provided, however, that no vote shall be cast or corporate or other right exercise or other action taken which, in the Collateral Agent’s reasonable judgment, would impair the Collateral or which would be inconsistent with or
result in any violation of any provision of the Indenture, this Agreement or any other Note Document. 

  
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 (b) If an Event of Default shall occur and be continuing and the Collateral shall give
notice of its intent to exercise its rights pursuant to this Section 5.4(b) to the Issuer, (i) the Collateral Agent shall have the right to receive any and all cash dividends, payments or other Proceeds paid in respect of the Pledged Stock
and Pledged Membership Interests and make application thereof to the Secured Obligations in such order as the Collateral Agent may determine, and/or (ii) any or all of the Pledged Stock and Pledged Membership Interests may be registered in the
name of the Collateral Agent or its nominee, and the Collateral Agent or its nominee may thereafter exercise (x) all voting, corporate and other rights pertaining to such Pledged Stock and Pledged Membership Interests at any meeting of
shareholders of the relevant issuer or issuers or otherwise and (y) any and all rights of conversion, exchange and subscription and any other rights, privileges or options pertaining to such Pledged Stock and Pledged Membership Interests as if
it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Pledged Stock and Pledged Membership Interests upon the merger, consolidation, reorganization, recapitalization or other
fundamental change in the corporate or other structure of any issuer, or upon the exercise by the Issuer of any right, privilege or option pertaining to such Pledged Stock and Pledged Membership Interests, and in connection therewith, the right to
deposit and deliver any and all of the Pledged Stock and Pledged Membership Interests with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as the Collateral Agent may determine), all
without liability except to account for property actually received by it, but the Secured Parties shall have no duty to the Issuer to exercise any such right, privilege or option and shall not be responsible for any failure to do so or delay in so
doing. The Issuer hereby appoints the Collateral Agent, which appointment shall be exercisable only upon the occurrence and during the continuance of an Event of Default, the Issuer’s true and lawful attorney-in-fact and grants to the
Collateral Agent an IRREVOCABLE PROXY to exercise any action contemplated by the immediately preceding sentence in any manner the Collateral Agent reasonably deems advisable for or against all matters submitted or which may be taken by the
shareholders. The power-of-attorney granted hereby is coupled with an interest and shall be irrevocable. 
 (c) The Issuer
hereby authorizes and instructs each issuer of any Pledged Stock and Pledged Membership Interests to (i) comply with any instruction received by it from the Collateral Agent in writing that (x) states that an Event of Default has occurred
and is continuing and (y) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from the Issuer, and the Issuer agrees that each issuer shall be fully protected in so complying, and
(ii) unless otherwise expressly permitted hereby, pay any dividends or other payments with respect to the Pledged Stock and Pledged Membership Interests directly to the Collateral Agent. 

(d) The Issuer shall use its commercially reasonable efforts to cause the other member of Gathering LLC to execute and deliver to the
Collateral Agent the Consent and Acknowledgment by Member (Pledged Membership Interest) attached hereto as Exhibit A. 

  
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 Section 5.5 Remedies Under the UCC; Sale of Non-Equity Collateral. Subject to
the terms of the Intercreditor Agreements: 
 (a) Upon the occurrence of an Event of Default, the Collateral Agent may exercise
its rights of enforcement with respect to the Collateral under the UCC or under any other law, statute, order, rule or regulation, in force in any state, to the extent the same is applicable. Without limiting the generality of the foregoing, the
Collateral Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law referred to below) to or upon the Issuer or any other Person (all and each of which
demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or
options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the
Collateral Agent or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. 

(b) The Secured Parties shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such
private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity or redemption in the Issuer, which right or equity is hereby waived and released. The Issuer shall execute and deliver such documents and
take such other action as the Collateral Agent deems necessary or advisable in order that any such sale may be made in compliance with law. Upon any such sale the Collateral Agent shall have the right to deliver, assign and transfer to the purchaser
thereof the Collateral so sold. Each purchaser at any such sale shall hold the Collateral so sold to it absolutely and free from any claim or right of whatsoever kind, including any equity or right of redemption of the Issuer which may be waived,
and the Issuer, to the extent permitted by law, hereby specifically waives all rights of redemption, stay or appraisal which it has or may have under any law now existing or hereafter adopted. The Collateral Agent shall apply the net proceeds of any
action taken by it pursuant to this Section 5.5(b), after deducting all reasonable costs and expenses of every kind incurred in connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating
to the Collateral or the rights of the Secured Parties, including, without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of the Secured Obligations, in such order as the Collateral Agent may elect
and only after such application and after the payment by the Secured Parties of any other amount required by any provision of law, including, without limitation, Section 9-615(a)(3) and (4) of the UCC, need the Secured Parties account for
the surplus, if any, to the Issuer. Should the Collateral be disposed of other than by sale, any proceeds of such disposition shall be treated as if the same were sales proceeds. To the extent permitted by applicable law, the Issuer waives all
claims, damages and demands it may acquire against the Secured Parties arising out of the exercise by them of any rights hereunder. 

  
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 (c) If any notice of a proposed sale or other disposition of Collateral shall be required by
law, such notice shall be deemed reasonable and proper if given at least 10 days prior to such sale or other disposition. Shorter or no notice shall be reasonable as to any Collateral which is perishable or threatens to decline speedily in value or
is of a type customarily sold on a recognized market. The notice (if any) of such sale shall (l) in case of a public sale, state the time and place fixed for such sale, and (2) in the case of a private sale, state the day after which such
sale may be consummated. The Collateral Agent shall not be obligated to make any such sale pursuant to any such notice. The Collateral Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned
from time to time by announcement at the time and place fixed for the sale, and such sale may be made at any time or place to which the same may be so adjourned. 
 (d) In case of any sale of all or any part of the Collateral on credit or for future delivery, the Collateral so sold may be retained by the Collateral Agent until the selling price is paid by the
purchaser thereof, but the Collateral Agent shall not incur any liability in case of the failure of such purchaser to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may again be sold upon like notice.
The Collateral Agent shall not be liable for any depreciation in the value of the Collateral. All rights to marshaling of assets of the Issuer, including any such right with respect to the Collateral, are hereby waived. 

(e) The Issuer recognizes that the Collateral Agent may be unable to effect a public sale of any or all of the Collateral. The Collateral
Agent shall incur no liability as a result of a private sale of the Collateral or any part thereof. The Issuer hereby waives, to the extent permitted by applicable law, any claims against the Collateral Agent arising by reason of the fact that the
price at which the Collateral may have been sold at such private sale was less than the price which might have been obtained at a public sale or was less than the aggregate amount of the outstanding Secured Obligations, even if the Collateral Agent
accepts the first offer received and does not offer such Collateral to more than one offeree. 
 Section 5.6 [Reserved].

 Section 5.7 Foreclosure; Receiver. The Collateral Agent, instead of exercising the power of sale herein conferred
upon it, may proceed by a suit or suits at law or in equity to foreclose the Security Interests and sell the Collateral, or any portion thereof, under a judgment or decree of a court or courts of competent jurisdiction. Moreover, the Collateral
Agent may apply for and obtain, without notice and upon ex parte application, the appointment of a receiver for the Collateral without regard to the Issuer’s financial condition or solvency, the adequacy of the Collateral to secure the payment
or performance of the Secured Obligations, or the existence of any waste to the Collateral. In the event that the Collateral Agent institutes an action to recover any Collateral or appoint a receiver or seeks the recovery of any Collateral or the
appointment of a receiver by way of a pre-judgment remedy in an action against the Issuer, the Issuer waives the posting of any bond which might otherwise be required. 

  
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 Section 5.8 Accounts. While an Event of Default has occurred and is continuing,
the Issuer shall make no material change to the terms of any Account without the prior written permission of the Collateral Agent. Upon the occurrence and during the continuance of an Event of Default, the Issuer upon request of the Collateral Agent
shall promptly notify (and the Issuer hereby authorizes the Collateral Agent so to notify) each account debtor in respect of any Account or General Intangible that such Collateral has been assigned to the Collateral Agent hereunder, and that any
payments due or to become due in respect of such Collateral are to be made directly to the Collateral Agent or its designee, and the Collateral Agent may demand, sue for, collect and receive all such Accounts or General Intangibles. 

Section 5.9 General Authority. The Issuer hereby irrevocably appoints the Collateral Agent its agent and attorney in fact,
with full power of substitution, in the name of the Issuer or the Collateral Agent, for the sole use and benefit of the Collateral Agent, but at the Issuer’s expense, to exercise, at any time and from time to time while an Event of Default has
occurred and is continuing, all or any of the following powers with respect to all or any of the Collateral: 
 (i) to indorse
the name of the Issuer upon any check, draft, note or other instrument payable to the Issuer evidencing payment upon any Account or General Intangible, 
 (ii) to notify postal service authorities to change the address for delivery of the Issuer’s mail to a “lockbox” address designated and controlled by the Collateral Agent, and to receive,
open and dispose of all mail addressed to the Issuer, 
 (iii) to pay or discharge taxes and Liens levied or placed on or
threatened against the Collateral, effect any repairs or any insurance called for by the terms of this Agreement or any other Security Document and pay all or any part of the premiums therefor and the costs thereof, 

(iv) to execute, in connection with any sale provided for in this Agreement, any indorsements, assignments or other instruments of
conveyance or transfer with respect to the Collateral, 
 (v) to direct any party liable for any payment under any of the
Collateral to make payment of any and all moneys due or to become due thereunder directly to the Collateral Agent or as the Collateral Agent shall direct, 
 (vi) to demand, sue for, collect, receive and give acquittance for any and all Accounts and other moneys due or to become due for or as Collateral or by virtue thereof, 

(vii) to defend any suit, action or proceeding brought against the Issuer with respect to any Collateral, 

  
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 (viii) to settle, compromise, compound, prosecute or defend any action or proceeding with
respect to any of the Collateral, 
 (ix) to extend the time of payment of any or all of the Collateral and to make any
allowance and other adjustments with reference thereto, and 
 (x) generally, to sell, transfer, pledge and make any agreement
with respect to or otherwise deal with any of the Collateral as fully and completely as though the Collateral Agent were the absolute owner thereof for all purposes, and do, at the Collateral Agent’s option and the Issuer’s expense
(including reasonable attorneys’ fees), at any time, or from time to time, all acts and things which the Collateral Agent deems necessary to protect, preserve or realize upon the Collateral and the Security Interests therein and to effect the
intent of this Agreement, all as fully and effectively as the Issuer might do. 
 The aforesaid mandate and power of attorney, being coupled
with an interest, is irrevocable so long as any of the Secured Obligations remains outstanding. Notwithstanding the foregoing, the Collateral Agent shall not exercise the foregoing power of attorney except following the occurrence and during the
continuance of an Event of Default. 
 Section 5.10 Assemble Collateral. For the purpose of enforcing any and all
rights and remedies under this Agreement the Collateral Agent may (i) require the Issuer to, and the Issuer agrees that it shall, at its expense and upon the request of the Collateral Agent, forthwith assemble all or any part of the Collateral
as directed by the Collateral Agent and make it available at a place designated by the Collateral Agent which is, in its opinion, reasonably convenient to the Collateral Agent and the Issuer, whether at the premises of the Issuer or otherwise, and
the Collateral Agent shall be entitled to specific performance of this obligation, (ii) to the extent permitted by applicable law of any applicable state, enter, with or without process of law and without breach of the peace, any premise where
any of the Collateral is or may be located, and without charge or liability to it seize and remove such Collateral from such premises, (iii) have access to and use the Issuer’s books and records relating to the Collateral and
(iv) prior to the disposition of the Collateral, store or transfer it without charge in or by means of any storage or transportation facility owned or leased by the Issuer, process, repair or recondition it or otherwise prepare it for
disposition in any manner and to the extent the Collateral Agent deems appropriate and, in connection with such preparation and disposition, use without charge any trademark, trade name, copyright, patent or technical process used by the Issuer.

 Section 5.11 Limitation on Duty of the Collateral Agent. Beyond the exercise of reasonable care in the custody
thereof, the Collateral Agent shall have no duty as to any Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon. The Collateral Agent shall be deemed to have exercised reasonable care
in the custody of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it accords its own property, and shall not be liable or responsible for any loss or damage to any of the

  
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Collateral, or for any diminution in the value thereof, by reason of the act or omission of any warehouseman, carrier, forwarding agency, consignee or other agent or bailee selected by the
Collateral Agent in good faith. The Issuer agrees that the Collateral Agent shall not be obligated to preserve rights against prior parties obligated on any instruments. The obligation of the Collateral Agent to act under this Agreement is subject
to the provisions of Section 7.2(b), Section 11.2(a), Section 12.4 and Section 12.5 of the Indenture. This Section 5.11 is subject to and shall not diminish the Collateral Agent’s right to indemnification
pursuant to Section 2.2. 
 Section 5.12 Appointment by the Collateral Agent. At any time or times, in
order to comply with any legal requirement in any jurisdiction, the Collateral Agent may appoint a bank or trust company or one or more other Persons with such power and authority as may be necessary for the effectual operation of the provisions
hereof and may be specified in the instrument of appointment. 
 Section 5.13 Expenses. In the event that the Issuer
fails to comply with any provisions of this Agreement or the Security Documents, such that the value of any Collateral or the validity, perfection, rank or value of any Security Interest hereunder is thereby diminished or potentially diminished or
put at risk, the Collateral Agent may, but shall not be required to, effect such compliance on behalf of the Issuer, and the Issuer shall reimburse the Collateral Agent for the costs thereof on demand. All insurance expenses and all expenses of
protecting, storing, warehousing, appraising, preparing for sale, handling, maintaining and shipping the Collateral, any and all excise, property, sales, and use taxes imposed by any federal, state or local authority on any of the Collateral, all
expenses in respect of periodic appraisals and inspections of the Collateral to the extent the same may be requested from time to time, and all expenses in respect of the sale or other disposition thereof shall be borne and paid by the Issuer; and
if the Issuer fails to promptly pay any portion thereof when due, the Collateral Agent may, at its option, but shall not be required to, pay the same and charge the Issuer’s account therefor, and the Issuer agrees to reimburse the Collateral
Agent therefor on demand. All sums so paid or incurred by the Collateral Agent for any of the foregoing and any and all other sums for which the Issuer may become liable hereunder and all costs and expenses (including reasonable attorneys’
fees, legal expenses and court costs) incurred by the Collateral Agent in enforcing or protecting the Security Interests or any of its rights or remedies under this Agreement or the other Security Documents, shall, together with interest thereon
until paid at the rate equal then highest rate of interest charged on the principal of any of the Notes plus one (1%) percent, be additional Secured Obligations hereunder and Issuer agrees to pay all of the foregoing sums promptly on demand.

 Section 5.14 Deficiency. The Issuer shall remain liable for any deficiency if the proceeds of any sale or other
disposition of the Collateral are insufficient to satisfy its Secured Obligations and the fees and disbursements of any attorneys employed by the Secured Parties or the Collateral Agent to collect such deficiency. 

Section 5.15 Releases. In addition to any requirements in this Agreement, the Security Interests granted hereunder in the
Collateral shall be released only in accordance with the provisions of Section 11.5 of the Indenture. 

  
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 ARTICLE 6 
 MISCELLANEOUS 
 Section 6.1 Notices. Any notice or demand which, by
provision of this Agreement, is required or permitted to be given or served to the Issuer and the Collateral Agent shall be deemed to have been sufficiently given and served for all purposes if made in accordance with the Indenture to the following
addresses: 
  

			
	 If to Issuer:
	  	GMX Resources Inc.
		  	9400 North Broadway
		  	Suite 600
		  	Oklahoma City, Oklahoma 73114
		  	Attention: President
		
	 If to the Collateral Agent:
	  	U.S. Bank National Association
		  	5555 San Felipe Street, Suite 1150
		  	Houston, Texas 77056
		  	Attention: Corporate Trust Administration

 Section 6.2 Amendment. Neither this Agreement nor any provisions thereof may be changed,
waived, discharged or terminated orally or in any manner other than by an instrument in writing signed by the party against whom enforcement of the change, waiver, discharge or termination is sought. 

Section 6.3 Waivers. No course of dealing on the part of the Collateral Agent, its officers, employees, consultants or
agents, nor any failure or delay by the Collateral Agent with respect to exercising any of its rights, powers or privileges under this Agreement shall operate as a waiver thereof. 

Section 6.4 Cumulative Rights. The rights and remedies of the Collateral Agent under this Agreement and the other Security
Documents shall be cumulative, and the exercise or partial exercise of any such right or remedy shall not preclude the exercise of any other right or remedy. 
 Section 6.5 Titles of Articles, Sections and Subsections. All titles or headings to articles, sections, subsections or other divisions of this Agreement or the exhibits hereto are only for the
convenience of the parties and shall not be construed to have any effect or meaning with respect to the other content of such articles, sections, subsections or other divisions, such other content being controlling as to the agreement between the
parties hereto. 
 Section 6.6 Singular and Plural. Words used herein in the singular, where the context so permits,
shall be deemed to include the plural and vice versa. The definitions of words in the singular herein shall apply to such words when used in the plural where the context so permits and vice versa. 

  
 29 

 Section 6.7 GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 Section 6.8 Termination. Upon full and final payment
and performance of the Secured Obligations, this Agreement shall terminate, and the Collateral Agent shall pay to the Issuer all amounts then remaining in the possession of the Collateral Agent from collections on or proceeds of the Collateral. Upon
request of the Issuer, the Collateral Agent shall execute and deliver to the Issuer at the Issuer’s expense such termination statements as the Issuer may reasonably request to evidence such termination. 

Section 6.9 Successors and Assigns. (a) All covenants and agreements contained by or on behalf of the Issuer in this
Agreement shall bind its successors and assigns and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their successors and assigns. 
 (b) This Agreement is for the benefit of the Collateral Agent and the other Secured Parties and for such other Person or Persons as may from time to time become or be the holders of any of the Secured
Obligations, and this Agreement shall be transferrable and negotiable, with the same force and effect and to the same extent as the Secured Obligations may be transferrable. 
 Section 6.10 Counterparts. This Agreement may be executed in two or more counterparts, and it shall not be necessary that the signatures of all parties hereto be contained on any one
counterpart hereof; each counterpart shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 Section 6.11 Conflicts; Intercreditor Agreement. Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to the Collateral Agent for the benefit of
the Secured Parties pursuant to this agreement are expressly subject and subordinate to the liens and security interests granted to U.S. Bank National Association as collateral agent (and its permitted successors), for the benefit of the secured
parties referred to below, pursuant to the Security Agreement and Mortgages dated as of December 19, 2011 (as amended, amended and restated, supplemented or otherwise modified from time to time), by the Company, in favor of U.S. Bank National
Association, as collateral agent for the benefit of the secured parties referred to therein, and (ii) the exercise of any right or remedy by the Collateral Agent hereunder is subject to the limitations and provisions of the Intercreditor
Agreement dated as of September 19, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), by and among GMX Resources Inc., the Guarantors from time to time party thereto,
U.S. Bank National Association in its capacity as Collateral Agent, and the collateral agent or other secured party for any Future Second Lien Indebtedness from time to time party thereto. In the event of any conflict between the terms of the
Intercreditor Agreement and the terms of this agreement, the terms of the Intercreditor Agreement shall govern. 
 [Signatures
on following page] 

  
 30 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written. 
  

							
	 ISSUER:
	 		 	 GMX RESOURCES INC.,

an Oklahoma corporation

				
		 		 	By:	 	/s/ James A. Merrill
		 		 		 	Name: James A. Merrill
		 		 		 	Titles: Vice President and Secretary

  

							
	 COLLATERAL AGENT:
	 		 	 U.S. BANK NATIONAL ASSOCIATION,
 as Collateral Agent

				
		 		 	By:	 	/s/ Mauri J. Cowen
		 		 		 	Name: Mauri J. Cowen
		 		 		 	Title: Vice President

 Signature Page to Second Priority Security Agreement 

 SCHEDULE 3.7 
 PLEDGED STOCK 
  

							
	 Subsidiary
	  	Certificate Number	 	Number of Shares	 
	 Endeavor Pipeline Inc.
	  	Cert. #1	 	 	1,000	  
	 Diamond Blue Drilling Company
	  	Cert. #1	 	 	10,000	  

 SCHEDULE 3.9 
 DEPOSIT ACCOUNTS 
  

							
	 Company
	  	 Bank
	  	 Account Name
	  	 Account #

	 GMX Resources Inc.
	  	Capital One Bank	  	GMX Operating Account	  	3620097615 (Note 1)
	 GMX Resources Inc.
	  	Capital One Bank	  	GMX Controlled Disbursement Account	  	542051752
	 GMX Resources Inc.
	  	Capital One Bank	  	GMX LOC Collateral Account	  	3620701962
	 GMX Resources Inc.
	  	Morgan Stanley & Co., LLC	  	GMX Resources Inc. Pledged to U.S. Bank National Association	  	14-78P6J

 Note 1— Available Excess Funds are invested overnight in Capital One’s Eurodollar Sweep Fund (Account
0499929102). 

 SCHEDULE 3.10 
 COMMERCIAL TORT CLAIMS 
 None 

 SCHEDULE 3.11 
 LETTERS OF CREDIT 
 Issuer: BNP Paribas 

Applicant: Parnon Gathering Inc 
 Beneficiary:
GMX Resources Inc. 
 LC Issue Date: 10/18/2011 
 LC Expiration Date: 12/30/2011 
 Amount: $1,500,000.00

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