Document:

Exhibit 10.5

 

Execution
Version

 

SECOND AMENDED AND RESTATED UNCONDITIONAL
GUARANTY

 

THIS SECOND AMENDED
AND RESTATED UNCONDITIONAL GUARANTY (this “Guaranty”) dated as of July 16, 2019 is made by Grizzly Energy,
LLC, a Delaware limited liability company (“Parent”), each of the undersigned Subsidiaries of the Parent,
whether as an original signatory hereto or as an Additional Guarantor (together with each such Person’s respective heirs,
executors, personal representatives, permitted successors and permitted assigns, collectively, “Guarantors”
and individually, a “Guarantor”), in favor of Citibank, N.A., as Administrative Agent for the Secured
Parties under and as defined in the Credit Agreement referred to below (in such capacity, the “Administrative Agent”),
and is executed and delivered pursuant to that certain Fifth Amended and Restated Credit Agreement dated as of July 16, 2019 (as
same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”) among Administrative Agent, Citibank, N.A., as Collateral Agent (“Collateral Agent”),
the Lenders party thereto, Parent and Grizzly Natural Gas, LLC, a Kentucky limited liability company ( “Borrower”).

 

WHEREAS, on April 1,
2019 (the “Petition Date”), Parent, Borrower and certain of Parent’s indirect subsidiaries (such
subsidiaries, collectively with Parent and Borrower, the “Chapter 11 Debtors”) filed voluntary petitions
with the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”)
for relief under Chapter 11 of Title 11 of the United States Code and commenced their chapter 11 proceedings (the “Chapter
11 Cases”)

 

WHEREAS, the Chapter
11 Debtors shall emerge from bankruptcy on the date hereof upon the effectiveness of the Plan of Reorganization (as defined in
the Credit Agreement) confirmed by the Bankruptcy Court on July 9, 2019;

 

WHEREAS, Citibank,
N.A. in its capacity as administrative agent for the lenders thereunder (in such capacity, the “Prepetition Administrative
Agent”) and as the issuing bank in respect of letters of credit issued thereunder, and other financial institutions
named and defined therein as lenders, including Citibank, N.A. in its capacity as a lender (the “Prepetition Lenders”
and each a “Prepetition Lender”) entered into that certain Fourth Amended and Restated Credit Agreement
dated as of August 1, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time through
the Petition Date, the “Prepetition Credit Agreement”). Pursuant to the terms of the Plan of Reorganization,
the Prepetition Administrative Agent and the Prepetition Lenders agreed, in settlement of their prepetition claims in accordance
with the Plan of Reorganization and on the terms and conditions set forth therein, to amend and restate the Prepetition Credit
Agreement by entering into the Credit Agreement;

 

WHEREAS, (A) pursuant
to the Plan of Reorganization, Borrower desires to amend and restate the Prepetition Credit Agreement and (B) concurrently herewith
Parent and Borrower shall execute and deliver the Credit Agreement, and as an inducement to the Lenders to enter into the Credit
Agreement and to make (or be deemed to make) the loans provided for therein, Guarantors and the Administrative Agent have agreed
to amend and restate the prepetition guaranty and guarantee the payment and satisfaction of the Obligations (as defined in the
Credit Agreement) as more particularly described herein and to execute and deliver this Guaranty;

 

     

     

    

 

WHEREAS, each Guarantor
is a Subsidiary or Affiliate of Borrower, and each Guarantor desires that the Lenders and other Secured Parties extend credit and
make other financial accommodations to Parent, Borrower and the other Guarantors as contemplated by the Credit Agreement, and each
Guarantor will directly or indirectly benefit from such financial accommodations and the use of the loan proceeds provided under
the Credit Agreement; and

 

WHEREAS, each Guarantor,
by and through the action of its governing body, has determined that it may reasonably be expected to benefit, directly or indirectly,
from such Guarantor’s guarantee of the Obligations pursuant to this Guaranty, all as hereinafter provided.

 

In consideration of the premises and the
mutual covenants and agreements herein contained, the Guarantors hereto agree as follows:

 

1.            Definitions.
Terms used herein which are defined in the Credit Agreement have the meaning provided therefor in the Credit Agreement unless the
context hereof otherwise requires or provides.

 

2.            Guaranty.

 

(a)          Each
Guarantor hereby, jointly and severally, absolutely and unconditionally guarantees, as a guaranty of payment and performance and
not merely as a guaranty of collection or as a surety, the prompt payment in full in cash when due, whether at stated maturity,
by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of all Obligations and any and all
other existing and future indebtedness and liabilities of every kind, nature and character, direct or indirect, absolute or contingent,
liquidated or unliquidated, voluntary or involuntary and whether for principal, interest, premiums, fees, indemnities, damages,
costs, expenses or otherwise, of any Loan Party arising under (i) any Loan Document or otherwise with respect to any Loan or Letter
of Credit, (ii) any Secured Swap Agreements and (iii) any Secured Treasury Management Agreements (in each case, including all renewals,
extensions, amendments, refinancings and other modifications thereof and all costs, attorneys’ fees and expenses incurred
by any holder of the Obligations in connection with the collection or enforcement thereof), and whether recovery upon such Obligations
and other indebtedness and liabilities may be or hereafter become unenforceable or shall be an allowed or disallowed claim under
any proceeding or case commenced by or against such Guarantor, Borrower or any other Loan Party under any Debtor Relief Laws, and
including interest that accrues after the commencement by or against Borrower or any other Loan Party of any proceeding under any
Debtor Relief Laws whether or not the claim for such interest is allowed in such proceeding (collectively, the “Guaranteed
Obligations”); provided that, notwithstanding anything to the contrary herein or in any Loan Document, “Guaranteed
Obligations” shall not include, with respect to any Loan Party, any Excluded Swap Obligations of such Loan Party.

 

(b)          The
books and records of the holders of the Obligations showing the amount of the Guaranteed Obligations shall be admissible in evidence
in any action or proceeding, and shall be binding upon the Guarantors and conclusive, absent manifest error, for the purpose of
establishing the amount of the Guaranteed Obligations at any time. This Guaranty shall not be affected by the genuineness, validity,
regularity or enforceability of the Guaranteed Obligations or any instrument or agreement evidencing any Guaranteed Obligations,
or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral securing the Guaranteed Obligations,
or by any fact or circumstance relating to the Guaranteed Obligations which might otherwise constitute a defense to the obligations
of any Guarantor under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire
in any way relating to any or all of the foregoing.

 

    
	UNCONDITIONAL GUARANTY 	Page 2	 

     

    

 

(c)          Notwithstanding
anything contained herein to the contrary, the Guaranteed Obligations of each Guarantor hereunder shall be limited to an aggregate
amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the
Bankruptcy Code or any comparable provisions of any applicable state law.

 

3.            Payment.
If any of the Guaranteed Obligations are not punctually paid when and as the same shall be due and payable, either by its terms
or as a result of the exercise of any power to accelerate, Guarantors shall, immediately on demand and without presentment, protest,
notice of protest, notice of nonpayment, notice of intent to accelerate, notice of acceleration or any other notice whatsoever
(all of which are expressly waived in accordance with Section 4 hereof), pay the amount due and payable with respect
to such Guaranteed Obligations to Administrative Agent, at its office as specified in the Credit Agreement. It is not necessary
for Administrative Agent, in order to enforce such payment by Guarantors, first to institute suit or exhaust its remedies against
Borrower or any other Person liable for the Obligations or such Guaranteed Obligations, or to enforce its rights against any security
given to secure the Obligations or such Guaranteed Obligations. Administrative Agent is not required to mitigate damages or take
any other action to reduce, collect or enforce the Guaranteed Obligations. No setoff, counterclaim, reduction or diminution of
any obligation, or any defense of any kind which any Guarantor has or may have against Borrower or Administrative Agent, Collateral
Agent or any other Secured Party shall be available hereunder to Guarantors. No payment by any Guarantor shall discharge the liability
of Guarantors hereunder until the Final Discharge Date.

 

4.             Agreements
and Waivers. Each Guarantor

 

(a)          agrees
to all terms and agreements heretofore or hereafter made by any Loan Party with Administrative Agent, Collateral Agent, the Lenders
and/or any other holder of any of the Guaranteed Obligations in respect of the Loan Documents and the Transactions;

 

(b)          agrees
that Administrative Agent and Collateral Agent may without impairing their rights or the obligations of such Guarantor hereunder
(i) waive or delay the exercise of any of its rights or remedies against or release Borrower or any other Person, including,
without limitation, any other Person who is personally or whose property is liable with respect to the Guaranteed Obligations or
any part thereof (Guarantors and any such other Person or Persons are hereafter collectively called the “Sureties”
and individually called a “Surety”); (ii) take or accept any other security, collateral or guaranty,
or other assurance of the payment of all or any part of the Guaranteed Obligations; (iii) release, surrender, exchange, subordinate
or permit or suffer to exist any deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable
or unjustified impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing
payment of, all or any part of the Guaranteed Obligations or the liability of such Guarantor or any other Surety; (iv) increase,
renew, extend, or modify the terms of any of the Guaranteed Obligations or any instrument or agreement evidencing the same; (v) apply
payments by Borrower, any Surety, or any other Person, to any of the Guaranteed Obligations; (vi) bring suit against any one
or more Sureties without joining any other Surety or Borrower in such proceeding; (vii) compromise or settle with any one
or more Sureties in whole or in part for such consideration or no consideration as Administrative Agent may deem appropriate; or
(viii) partially or fully release one or more of any Guarantor or any other Surety from liability hereunder.

 

    
	UNCONDITIONAL GUARANTY 	Page 3	 

     

    

 

(c)          agrees
that the obligations of such Guarantor under this Guaranty shall not be released, diminished, or adversely affected by any of the
following, in each case, to the fullest extent permitted by applicable law: (i) the insolvency, bankruptcy, rearrangement,
adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower or any Surety; (ii) the invalidity,
illegality or unenforceability of all or any part of the Guaranteed Obligations or any document or agreement executed in connection
with the Guaranteed Obligations, for any reason, or the fact that any debt included in the Guaranteed Obligations exceeds the amount
permitted by law; (iii) the failure of Administrative Agent, any other Secured Party or any other Person to exercise diligence
or reasonable care or to act in a commercially reasonable manner in the preservation, protection, enforcement, sale or other handling
or treatment of all or any part of such collateral, property or security; (iv) the fact that any collateral, security, security
interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations
is not properly perfected or created, or proves to be unenforceable or subordinate to any other security interest or lien; (v) the
fact that Borrower, any other Loan Party or any other Person has any defense to the payment of all or any part of the Guaranteed
Obligations; (vi) any payment by Borrower or any Surety to Administrative Agent and/or any other Secured Party is a preference
under applicable bankruptcy laws, or for any reason Administrative Agent and/or any other Secured Party is required to refund such
payment or pay such amounts to Borrower, any such Surety, or any other Person; (vii) any defenses which Borrower, any other
Loan Party or any other Person could assert on the Guaranteed Obligations, including but not limited to failure of consideration,
breach of warranty, fraud, payment, accord and satisfaction, strict foreclosure, statute of frauds, bankruptcy, infancy, statute
of limitations, lender liability and usury; or (viii) any other action taken or omitted to be taken with respect to the Credit
Agreement, the Loan Documents, the Guaranteed Obligations, the security and collateral therefor whether or not such action or omission
prejudices such Guarantor or any Surety, or increases the likelihood that such Guarantor will be required to pay the Guaranteed
Obligations pursuant to the terms hereof;

 

(d)          to
the fullest extent allowed by applicable law, agrees that such Guarantor is obligated to pay the Guaranteed Obligations when due,
notwithstanding any occurrence, circumstance, event, action or omission whatsoever, whether or not particularly described herein,
except for the occurrence of the Final Discharge Date;

 

(e)          to
the fullest extent allowed by applicable law, waives all rights and remedies now or hereafter accorded by applicable law to guarantors
or sureties, including without limitation any defense, right of offset or other claim which such Guarantor may have against Borrower
or which Borrower may have against Administrative Agent, Collateral Agent, the Lenders and/or any other Secured Party;

 

    
	UNCONDITIONAL GUARANTY 	Page 4	 

     

    

 

(f)          waives
all notices whatsoever with respect to this Guaranty or with respect to the Guaranteed Obligations, including, but without limitation,
notice of (i) any Secured Party’s acceptance hereof or its intention to act, or its action, in reliance hereon; (ii) the
present existence, future incurring, or any amendment of the provisions of any of the Guaranteed Obligations or any terms or amounts
thereof or any change therein or in the rate of interest thereon; (iii) any default by Borrower, any other Loan Party or any
other Surety; and (iv) the obtaining, enforcing, or releasing of any guaranty or surety agreement (in addition hereto), pledge,
assignment, or other security for any of the Guaranteed Obligations;

 

(g)          waives
notice of presentment for payment, notice of protest, protest, demand, notice of intent to accelerate, notice of acceleration and
notice of nonpayment, protest in relation to any instrument or agreement evidencing any of the Guaranteed Obligations, and any
demands and notices required by law, except as such waiver may be expressly prohibited by applicable law, and diligence in bringing
suits against any Surety; and

 

(h)          waives
each right to which any of them may be entitled by virtue of applicable law governing or relating to suretyship and guaranties,
including, without limitation, any rights under the Uniform Commercial Code as in effect at any time in any applicable jurisdiction,
or applicable common law.

 

5.            Keepwell.
Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such
funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this Guaranty
in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section
5 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section
5, or otherwise under this Guaranty, as it relates to such Loan Party, voidable under applicable law relating to fraudulent
conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this
Section 5 shall remain in full force and effect until the Final Discharge Date. Each Qualified ECP Guarantor intends that
this Section 5 constitute, and this Section 5 shall be deemed to constitute, a “keepwell, support, or other
agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange
Act.

 

6.             Liability.
The liability of each Guarantor under this Guaranty is irrevocable, absolute and unconditional, without regard to the liability
of any other Person, and shall not in any manner be affected by reason of any action taken or not taken by Administrative Agent,
Collateral Agent, the Lenders and/or any other Secured Party, which action or inaction is herein consented and agreed to, nor by
the partial or complete unenforceability or invalidity of any other guaranty or surety agreement, pledge, assignment or other security
for, or in respect of, any of the Guaranteed Obligations. No delay in making demand on Sureties or any of them for satisfaction
of the liability hereunder shall prejudice Administrative Agent’s right to enforce such satisfaction. All of Administrative
Agent’s rights and remedies shall be cumulative and any failure of Administrative Agent to exercise any right hereunder shall
not be construed as a waiver of the right to exercise the same or any other right at any time, and from time to time, thereafter.
This is a continuing guaranty of payment, not a guaranty of collection, and this Guaranty shall be binding upon Guarantors regardless
of how long before or after the date hereof any of the Guaranteed Obligations were or are incurred.

 

    
	UNCONDITIONAL GUARANTY 	Page 5	 

     

    

 

7.            Subordination.
If Borrower or any other Loan Party is now or hereafter becomes indebted to one or more Guarantors (such indebtedness and all interest
thereon is referred to as the “Affiliated Debt”) or otherwise has obligations to one or more Guarantors
(together with the Affiliated Debt, the “Grantor Claims”), such Grantor Claims shall be subordinate in
all respects to the full payment and performance of the Guaranteed Obligations, and no Guarantor shall be entitled to enforce or
receive payment in respect of such Grantor Claims until the occurrence of the Final Discharge Date. Each Guarantor agrees that
any liens, mortgages, deeds of trust, security interests, judgment liens, charges or other encumbrances upon any Loan Party’s
assets securing the payment of the Grantor Claims shall be and remain subordinate and junior to all liens, security interests,
judgment liens, charges or other encumbrances upon Borrower’s and each other Guarantor’s assets securing the payment
of the Guaranteed Obligations, and without the prior written consent of Administrative Agent, such Guarantor shall not exercise
or enforce any creditor’s rights of any nature against any of Borrower or any other Guarantors to collect the Grantor Claims
(other than demand payment therefor). In the event of the receivership, bankruptcy, reorganization, arrangement, debtor’s
relief or other insolvency proceedings involving Borrower or any other Guarantor as a debtor, Administrative Agent has the right
and authority, either in its own name or as attorney-in-fact for any Guarantor, to file such proof of debt, claim, petition or
other documents and to take such other steps as are necessary to prove its rights hereunder and receive directly from the receiver,
trustee or other court custodian, payments, distributions or other dividends which would otherwise be payable upon the Grantor
Claims. Each Guarantor hereby assigns such payments, distributions and dividends to Administrative Agent, and irrevocably appoints
Administrative Agent as its true and lawful attorney-in-fact with authority to make and file in the name of such Guarantor any
proof of debt, amendment of proof of debt, claim, petition or other document in such proceedings and to receive payment of any
sums becoming distributable on account of the Grantor Claims, and to execute such other documents and to give acquittances therefor
and to do and perform all such other acts and things for and on behalf of such Guarantor as may be necessary in the opinion of
Administrative Agent in order to have the Grantor Claims allowed in any such proceeding and to receive payments, distributions
or dividends of or on account of the Grantor Claims.

 

8.            No
Subrogation, Contribution or Reimbursement. Until the Final Discharge Date, notwithstanding any payment made by any
Guarantor hereunder or any set-off or application of funds of any Guarantor by the Administrative Agent or any other Secured Party,
no Guarantor shall be entitled to be subrogated to any of the rights of the Administrative Agent or any other Secured Party against
Borrower or any other Guarantor or any collateral security or guarantee or right of offset held by the Administrative Agent or
any other Secured Party for the payment of the Guaranteed Obligations, nor shall any Guarantor seek or be entitled to seek any
indemnity, exoneration, participation, contribution or reimbursement from Borrower or any other Guarantor in respect of payments
made by such Guarantor hereunder, and each Guarantor hereby expressly waives, releases and agrees not to exercise any or all such
rights of subrogation, reimbursement, indemnity and contribution. Each Guarantor further agrees that to the extent that such waiver
and release set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of
subrogation, reimbursement, indemnity and contribution such Guarantor may have against Borrower or any other Guarantor or against
any collateral or security or guarantee or right of offset held by the Administrative Agent or any other Secured Party shall be
junior and subordinate to any rights the Administrative Agent and the other Secured Parties may have against Borrower and/or such
Guarantor and to all right, title and interest the Administrative Agent and the other Secured Parties may have in such collateral
or security or guarantee or right of offset. After the occurrence of an Event of Default and during its continuance, and as set
forth in the Credit Agreement and/or any other Loan Document, the Administrative Agent, for the benefit of the Secured Parties,
may use, sell or dispose of any item of Collateral or security as it sees fit without regard to any subrogation rights any Guarantor
may have, and upon any disposition or sale, any rights of subrogation any Guarantor may have shall terminate.

 

    
	UNCONDITIONAL GUARANTY 	Page 6	 

     

    

 

9.            Other
Indebtedness or Obligations of Guarantors. If any Guarantor is or becomes liable for any indebtedness owed by Borrower
to the Lenders by endorsement or otherwise other than under this Guaranty, such liability shall not be affected by this Guaranty,
and the rights of Administrative Agent and the holders of the Guaranteed Obligations hereunder shall be cumulative of all other
rights that Administrative Agent and the holders of the Guaranteed Obligations may have against such Guarantor. The exercise by
Administrative Agent of any right or remedy hereunder or under any other instrument or at law or in equity shall not preclude the
concurrent or subsequent exercise of any other instrument or remedy at law or in equity and shall not preclude the concurrent or
subsequent exercise of any other right or remedy. Further, without limiting the generality of the foregoing, this Guaranty is given
by Guarantors as an additional guaranty to all guaranties heretofore or hereafter executed and delivered to Administrative Agent
and/or any other Secured Party by Guarantors in favor of Administrative Agent and/or any other Secured Party relating to the Guaranteed
Obligations, and nothing herein shall be deemed to replace or be in lieu of any other of such previous or subsequent guarantees.

 

10.           Reference
to Credit Agreement. Reference is hereby made to the representations, warranties and covenants of the Loan Parties
set forth in the Credit Agreement. Each Guarantor (a) reaffirms that each such representation and warranty of the Guarantors
in the Credit Agreement and in the other Loan Documents are true and correct in all material respects with respect to such Guarantor
on and as of the date hereof (except (i) to the extent such representations and warranties are expressly limited to an earlier
date, in which case, they are true and correct in all material respects as of such earlier date, (ii) that the representations
and warranties contained in Section 7.04 of the Credit Agreement shall be deemed to refer to the most recent statements furnished
pursuant to Section 8.01(a) and (b) of the Credit Agreement and (iii) that any representation and warranty that is qualified
as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving
effect to any qualification therein) in all respects on such respective dates), and (b) agrees to comply with the covenants
and agreements of such Loan Party on the terms and provisions set forth therein. If the Credit Agreement shall cease to remain
in effect for any reason whatsoever during any period prior to the Final Discharge Date, then the terms, covenants, and agreements
set forth therein applicable to the Guarantors shall nevertheless continue in full force and effect as obligations of each Guarantor
under this Guaranty.

 

11.           Reinstatement.
The provisions of Section 12.05(b) of the Credit Agreement are incorporated herein by reference, mutatis mutandis.

 

    
	UNCONDITIONAL GUARANTY 	Page 7	 

     

    

 

12.           Right
of Setoff. The provisions of Section 12.08 of the Credit Agreement are incorporated herein by reference, mutatis
mutandis.

 

13.           Costs
and Expenses; Indemnity. The provisions of Section 12.03 of the Credit Agreement are incorporated herein by reference,
mutatis mutandis, and each Guarantor hereby agrees to indemnify all Indemnitees to the same extent that Borrower is obliged
to indemnify Indemnitees pursuant to Section 12.03(b) of the Credit Agreement.

 

14.           Exercising
Rights, Etc. No notice to or demand upon any Guarantor in any case shall, of itself, entitle such Guarantor or any
other Guarantor to any other or further notice or demand in similar or other circumstances. No delay or omission by Administrative
Agent in exercising any power or right hereunder shall impair such right or power or be construed as a waiver thereof or any acquiescence
therein, nor shall any single or partial exercise of any such power preclude other or further exercise thereof, or the exercise
of any other right or power hereunder.

 

15.           Governing
Law; Jurisdiction; Waiver of Venue; Consent to Service of Process; Waiver of Jury Trial. The provisions of Sections
12.10, 12.11, 12.12, 12.13 and 12.14 of the Credit Agreement entitled “Governing Law”, “Submission to Jurisdiction”;
“Waiver of Venue”, “Service of Process” and “Waiver of Jury Trial”, respectively, are incorporated
herein, mutatis mutandis, for all purposes.

 

16.           Notices.
Any notice required or permitted to be given under this Guaranty shall be sent (and deemed received) in the manner and to the addresses
set forth in the Credit Agreement.

 

17.           Benefit;
Binding Effect. This Guaranty shall inure to the benefit of Administrative Agent, Collateral Agent, each Lender, each
other Secured Party, and their respective successors and assigns, and to any interest in any of the Guaranteed Obligations. All
of the obligations of Guarantors arising hereunder shall be jointly and severally binding on each of the Persons signing this Guaranty,
and their respective successors, assigns, heirs, executors, administrators and personal representatives (provided, however,
that no Guarantor may, without the prior written consent of Administrative Agent in each instance, assign or delegate any of its
rights, powers, duties or obligations hereunder, and any attempted assignment or delegation made without Administrative Agent’s
prior written consent shall be void ab initio and of no force or effect).

 

18.           Entirety.
The provisions of Section 12.06(b) of the Credit Agreement are incorporated herein by reference, mutatis mutandis.

 

19.           Multiple
Guarantors. It is specifically agreed that Administrative Agent may enforce the provisions hereof with respect to one
or more Guarantors without seeking to enforce the same as to all or any other Guarantors. If one or more additional guaranty agreements
(“Other Guaranties”) are executed by one or more additional guarantors (“Other Guarantors”),
which guarantee, in whole or in part, any of the indebtedness or obligations evidenced by the Loan Documents, it is specifically
agreed that Administrative Agent may enforce the provisions of this Guaranty or of the Other Guaranties with respect to one or
more of the Guarantors or any one or more of the Other Guarantors under the Other Guaranties without seeking to enforce the provisions
of this Guaranty or the Other Guaranties as to all or any of the Guarantors or the Other Guarantors. Each Guarantor hereby waives
any requirement of joinder of all or any other Guarantor or all or any of the Other Guarantors in any suit or proceeding to enforce
the provisions of this Guaranty or of the Other Guaranties. The liability hereunder of all Guarantors hereunder shall be joint
and several.

 

    
	UNCONDITIONAL GUARANTY 	Page 8	 

     

    

 

20.           Additional
Guarantors. From time to time subsequent to the date hereof, additional Persons may become parties hereto as additional
Guarantors (each, an “Additional Guarantor”), by executing a Joinder Agreement in the form of Exhibit A
hereto and delivering all documentation and other information that the Administrative Agent or any Lender requests in order to
comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations,
including without limitation the USA Patriot Act. Upon delivery of any such Joinder Agreement to Administrative Agent, notice of
which is hereby waived by each other Guarantor, and acceptance by the Administrative Agent of such Joinder Agreement, each Additional
Guarantor shall be a Guarantor and shall be as fully a party hereto as if Additional Guarantor were an original signatory hereto.
Each Guarantor expressly agrees that its obligations arising hereunder shall not be affected or diminished by the addition or release
of any other Guarantor hereunder, nor by any election of Administrative Agent not to cause any Subsidiary or Affiliate of Borrower
to become an Additional Guarantor hereunder. This Guaranty shall be fully effective as to any Guarantor that is or becomes a party
hereto regardless of whether any other Person becomes or fails to become or ceases to be a Guarantor hereunder.

 

21.          Condition
of Borrower. Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means
of, obtaining from Borrower, the other Loan Parties and any other Guarantor such information concerning the financial condition,
business and operations of Parent, Borrower, the other Loan Parties and any such other Guarantor as such Guarantor requires, and
that the Administrative Agent, Collateral Agent, the Lenders and/or any other Secured Party have no duty, and such Guarantor is
not relying on the Administrative Agent, Collateral Agent, the Lenders and/or any other Secured Party at any time, to disclose
to such Guarantor any information relating to the business, operations or financial condition of Parent, Borrower, the other Loan
Parties or any other Guarantor (each Guarantor waiving any duty on the part of the Administrative Agent, Collateral Agent, the
Lenders and/or any other Secured Party to disclose such information and any defense relating to the failure to provide the same).

 

22.           Miscellaneous.
No failure by the holders of the Guaranteed Obligations to exercise, and no delay in exercising, any right, remedy or power hereunder
shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy or power hereunder preclude any
other or further exercise thereof or the exercise of any other right, power or remedy. The remedies herein provided are cumulative
and not exclusive of any remedies provided by law or in equity. The unenforceability or invalidity of any provision of this Guaranty
shall not affect the enforceability or validity of any other provision herein. Unless otherwise agreed by the Secured Parties and
each Guarantor in writing, this Guaranty is not intended to supersede or otherwise affect any other guaranty now or hereafter given
by any Guarantor for the benefit of the Administrative Agent, Collateral Agent, the Lenders and/or any other Secured Parties or
any term or provision thereof.

 

    
	UNCONDITIONAL GUARANTY 	Page 9	 

     

    

 

23.           Severability.
If any provision of this Guaranty is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability
of the remaining provisions of this Guaranty shall not be affected or impaired thereby and (b) the parties shall endeavor in good
faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

24.           Terms
Generally; Rules of Construction. Sections 1.04, 1.05, 1.06 and 1.09 of the Credit Agreement are incorporated herein
by reference, mutatis mutandis.

 

[The rest
of this page is intentionally left blank. The signature pages follow.]

 

    
	UNCONDITIONAL GUARANTY 	Page 10	 

     

    

 

IN WITNESS WHEREOF,
Guarantors, intending to be jointly and severally legally bound hereby, have executed this Guaranty as of the date and year first
above written.

 

	 	GRIZZLY ENERGY, LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:	Chief Financial Officer
	 	 	 
	 	GRIZZLY NATURAL GAS, LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:	Chief Financial Officer
	 	 	 
	 	GRIZZLY HOLDINGS, LLC
	 	 	 
	 	By: 	Grizzly Natural Gas, LLC
	 	 	its Sole Member
	 	 	 
	 		By:	/s/ Ryan Midgett
	 	 	Name: 	Ryan Midgett
	 		Title: 	Chief Financial Officer
	 	 	 
	 	GRIZZLY OPERATING, LLC
	 	 	 
	 	By: 	Grizzly Natural Gas, LLC
	 	 	its Sole Member
	 	 	 
	 		By:	/s/ Ryan Midgett
	 		Name:	Ryan Midgett
	 		Title:	Chief Financial Officer

 

[Signature
Page to Unconditional Guaranty]

 

     

     

    

 

	 	GRIZZLY ACQUISITION PARTNERSHIP, LLC
	 	 	 
	 	By:  	GRIZZLY UPSTREAM DEVELOPMENT COMPANY, LLC,
	 	 	its general partner
	 	 	 
	 		By: 	/s/ Ryan Midgett
	 		Name:	Ryan Midgett
	 		Title: 	Chief Financial Officer
	 	 	 
	 	GRIZZLY ACQUISITION PARTNERSHIP II, LLC
	 	 	 
	 	By:  	GRIZZLY UPSTREAM DEVELOPMENT COMPANY II, LLC,
	 	 	its general partner
	 	 	 
	 		By:	/s/ Ryan Midgett
	 		Name:	Ryan Midgett
	 		Title: 	Chief Financial Officer
	 	 	 
	 	GRIZZLY ENERGY ACQUISITION CO., LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:	Chief Financial Officer
	 	 	 
	 	GRIZZLY ENERGY ACQUISITION CO. II, LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:	Chief Financial Officer

 

[Signature
Page to Unconditional Guaranty]

 

     

     

    

 

	 	GRIZZLY UPSTREAM DEVELOPMENT COMPANY, LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:	Chief Financial Officer
	 	 	 
	 	GRIZZLY UPSTREAM DEVELOPMENT COMPANY II, LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:	Chief Financial Officer
	 	 	 
	 	ESCAMBIA ASSET CO. LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:	Chief Financial Officer
	 	 	 
	 	ESCAMBIA OPERATING CO. LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:	Chief Financial Officer

 

[Signature
Page to Unconditional Guaranty]

 

     

     

    

 

	 	ADMINISTRATIVE AGENT:
	 	 
	 	CITIBANK, N.A.
	 	 	                           
	 	By:	/s/ Eamon Baqui
	 	Name:	Eamon Baqui
	 	Title:	Vice President
	 	 	 
	 	COLLATERAL AGENT:
	 	 
	 	CITIBANK, N.A.
	 	 	 
	 	By:	/s/ Eamon Baqui
	 	Name:	Eamon Baqui
	 	Title:	Vice President

 

[Signature
Page to Unconditional Guaranty]

 

     

     

    

 

EXHIBIT A

 

Form of Joinder Agreement

 

JOINDER AGREEMENT

 

THIS JOINDER AGREEMENT
(this “Joinder Agreement”) is entered into as of __________, 201___, by the undersigned (“Additional
Guarantor”), in favor of Citibank, N.A., as Administrative Agent for the Secured Parties as defined in the Credit
Agreement referred to below (in such capacity, “Administrative Agent”).

 

WHEREAS, Grizzly Natural
Gas, LLC, a Kentucky limited liability company (“Borrower”), Grizzly Energy, LLC, a Delaware limited
liability company (“Parent”), Administrative Agent, Collateral Agent and the Lenders party thereto have
entered into that certain Fifth Amended and Restated Credit Agreement dated as of July 16, 2019 (as same may be amended, restated,
amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
and as an inducement to the Lenders to enter into the Credit Agreement and to make the loans provided for therein, Guarantors have
agreed to guarantee the payment and satisfaction of the Obligations (as defined in the Credit Agreement) and to execute and deliver
this Guaranty; and

 

WHEREAS, pursuant to
the Credit Agreement, Parent, Borrower and certain Subsidiaries and Affiliates of Borrower entered into that certain Second Amended
and Restated Unconditional Guaranty dated as of July 16, 2019 in favor of Administrative Agent (as same may be amended, restated,
amended and restated, supplemented or otherwise modified from time to time, the “Guaranty”) in order
to, among other things, induce the Lenders to enter into and extend credit and other financial considerations to Borrower under
the Credit Agreement; and

 

WHEREAS, Additional
Guarantor is a Subsidiary or Affiliate of Parent, and Additional Guarantor desires that the Lenders extend credit and other financial
considerations to Borrower as contemplated by the Credit Agreement, and Additional Guarantor will directly or indirectly benefit
from the use of the loan proceeds by Borrower for the purposes for which the credit is being extended and other financial considerations
provided pursuant to the Credit Agreement; and

 

WHEREAS, Additional
Guarantor, by and through the action of its governing body, has determined that it may reasonably be expected to benefit, directly
or indirectly, from guarantying Borrower’s indebtedness and other Obligations under the Credit Agreement, all as provided
therein;

 

ACCORDINGLY, Additional Guarantor hereby
agrees with Administrative Agent as follows:

 

1.          Definitions.
All capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Guaranty.

 

    
	JOINDER AGREEMENT – Page 1

     

    

 

2.          Party
to Guaranty. Additional Guarantor hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement,
Additional Guarantor will be deemed to be a party to the Guaranty and a “Guarantor” for all purposes of the Guaranty,
and shall have all of the obligations of a Guarantor thereunder as if it had executed the Guaranty. Additional Guarantor hereby
ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions applicable to Guarantors
contained in the Guaranty. Without limiting the generality of the foregoing terms of this Section 2, Additional Guarantor
hereby, jointly and severally with the other Guarantors, unconditionally, absolutely and irrevocably guarantees to the Lenders,
as provided in the Guaranty, the due and punctual payment at maturity, whether by acceleration or otherwise, and the due fulfillment
and performance of the Guaranteed Obligations. Additional Guarantor is jointly and severally liable for the full payment and performance
of the Guaranteed Obligations as a primary Guarantor.

 

3.          Waiver
of Acceptance. Additional Guarantor hereby waives acceptance by Administrative Agent and the Lenders of the guaranty by Additional
Guarantor under the Guaranty upon the execution of this Joinder Agreement by Additional Guarantor.

 

4.          Representations
and Warranties. Additional Guarantor hereby makes each representation and warranty set forth in the Guaranty with respect to
itself.

 

5.          Counterparts.
This Joinder Agreement may be executed in two or more counterparts, each of which shall constitute an original but all of which
when taken together shall constitute one contract.

 

6.          Governing
Law; Jurisdiction; Waiver of Venue; Consent to Service of Process; Waiver of Jury Trial. The provisions of Sections 12.10,
12.11, 12.12, 12.13 and 12.14 of the Credit Agreement entitled “Governing Law”, “Submission to Jurisdiction”;
“Waiver of Venue”, “Service of Process” and “Waiver of Jury Trial”, respectively, are incorporated
herein, mutatis mutandis, for all purposes.

 

7.          Loan
Document. This Joinder Agreement is a Loan Document for all purposes and each reference in any Loan Document to the Guaranty
shall mean the Guaranty as supplemented by this Joinder Agreement.

 

[The remainder
of this page is left intentionally blank. The signature pages follow.]

 

    
	JOINDER AGREEMENT – Page 2

     

    

 

IN WITNESS WHEREOF,
the undersigned Additional Guarantor and Administrative Agent have executed this Joinder Agreement as of the date first above written.

 

	 	ADDITIONAL GUARANTOR:
	 	 
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	Facsimile:	 

 

    
	JOINDER AGREEMENT – Page 3

     

    

 

	 	ADMINISTRATIVE AGENT:
	 	 	 
	 	CITIBANK, N.A.
	 	 	                             
	 	By:	     
	 	Name:	      
	 	Title:	  
	 	 	 
	 	Address:
	 	 
	 	811 Main Street, Suite 4000
	 	Houston, TX 77002
	 	Attention: Mr. Phil Ballard
	 	Facsimile No: 281-271-8970
	 	Telephone: 713-821-4789
	 	Electronic Mail Address:
	 	phil.ballard@citi.com

 

    
	JOINDER AGREEMENT – Page 4Exhibit 10.6

 

Execution
Version

 

SECOND AMENDED AND RESTATED PLEDGE
AND SECURITY AGREEMENT

 

THIS SECOND AMENDED
AND RESTATED PLEDGE AND SECURITY AGREEMENT (as same may be amended, restated, amended and restated, supplemented or otherwise modified
from time to time, this “Security Agreement”) is entered into as of July 16, 2019, by Grizzly
Natural Gas, LLC, a Kentucky limited liability company (“Borrower”), Grizzly Energy, LLC,
a Delaware limited liability company (“Parent”), each of the Subsidiaries party hereto, whether
as an original signatory hereto or as an Additional Debtor (together with Borrower and Parent, collectively, “Debtors”
and individually, a “Debtor”), in favor of Citibank, N.A. (“Citibank”),
as collateral agent (in such capacity, together with its successors in such capacity, the “Collateral Agent”).

 

PRELIMINARY STATEMENT

 

WHEREAS, on April 1,
2019 (the “Petition Date”), Parent, Borrower, and certain of Parent’s direct and indirect subsidiaries
(such subsidiaries, collectively with Parent and Borrower, the “Chapter 11 Debtors”) filed voluntary
petitions with the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy
Court”) for relief under Chapter 11 of Title 11 of the United States Code and commenced their chapter 11 proceedings
(the “Chapter 11 Cases”);

 

WHEREAS, the Chapter
11 Debtors shall emerge from bankruptcy on the date hereof upon the effectiveness of the Plan of Reorganization (as defined in
the Credit Agreement), which Plan of Reorganization was confirmed by the Bankruptcy Court on July 9, 2019;

 

WHEREAS, Citibank,
N.A. (“Citibank”), in its capacity as administrative agent for the lenders thereunder (the “Prepetition
Administrative Agent”), and as the issuing bank in respect of letters of credit issued thereunder, and other financial
institutions named and defined therein as lenders, including Citibank in its capacity as a lender (the “Prepetition
Lenders” and each a “Prepetition Lender”) entered into that certain Fourth Amended and
Restated Credit Agreement dated as of August 1, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified
from time to time through the Petition Date, the “Prepetition Credit Agreement”). Pursuant to the terms
of the Plan of Reorganization, the Prepetition Administrative Agent and the Prepetition Lenders agreed, in settlement of their
prepetition claims in accordance with the Plan of Reorganization and on the terms and conditions set forth therein, to amend and
restate the Prepetition Credit Agreement by entering into that certain Fifth Amended and Restated Credit Agreement, dated as of
July 16, 2019 (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the “Credit
Agreement”), by and among Parent, Borrower, the lenders from time to time party thereto, Citibank, N.A., as administrative
agent (the “Administrative Agent”) and the Collateral Agent;

 

WHEREAS, concurrently
herewith Parent and Borrower are entering into that certain Term Loan Credit Agreement, dated as of July 16, 2019 (as amended,
restated, amended and restated, supplemented, or otherwise modified from time to time, the “Term Credit Agreement”),
by and among Parent, Borrower, the lenders from time to time party thereto, Citibank, N.A., as administrative agent (the “Term
Administrative Agent”) and the Collateral Agent;

 

WHEREAS, Debtors may
incur Additional Priority Lien Debt and Priority Lien Obligations (each as defined in the Collateral Agency Agreement) from time
to time, subject to the terms and conditions of the Collateral Agency Agreement;

 

WHEREAS, the Collateral
Agent has agreed to act as collateral agent on behalf of all present and future Priority Lien Secured Parties (as defined in the
Collateral Agency Agreement) with respect to the Collateral (as hereinafter defined) and is entering into this Security Agreement
in accordance with the Collateral Agency Agreement;

 

    	 	PAGE 1	 

     

    

 

WHEREAS, Borrower and
the other Debtors are engaged in related businesses, and each Debtor will derive substantial direct and indirect benefit from the
extensions of credit and the incurrence of the Priority Lien Obligations; and

 

WHEREAS, to induce
each Priority Lien Secured Party to (a) make the loans and other financial accommodations from time to time as provided in the
Priority Lien Documents (as defined in the Collateral Agency Agreement) and (b) make financial accommodations under Secured Swap
Agreements and Secured Treasury Management Agreements (each as defined in the Credit Agreement), each Debtor has agreed to grant
a security interest in the Collateral as security for the repayment of the Priority Lien Obligations.

 

NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties do hereby agree as follows:

 

Article
I

DEFINITIONS

 

1.1           Terms
Defined in Credit Agreement, Term Credit Agreement and Collateral Agency Agreement. All capitalized terms used herein and not
otherwise defined shall have the meanings assigned to such terms in the Credit Agreement, Term Credit Agreement or Collateral Agency
Agreement, as applicable.

 

1.2           Terms
Defined in New York Uniform Commercial Code. Terms defined in the New York Uniform Commercial Code which are not otherwise
defined in this Security Agreement (including by reference to the Collateral Agency Agreement or any Priority Lien Document) are
used herein as defined in Articles 8 or 9 of the New York Uniform Commercial Code, as the context may require, as in effect on
the date hereof.

 

1.3           Definitions
of Certain Terms Used Herein. As used in this Security Agreement, in addition to the terms defined in the introductory paragraph
and in the Preliminary Statement, the following terms shall have the following meanings:

 

“Accounts”
shall have the meaning set forth in Article 9 of the UCC.

 

“Account
Debtor” means any Person who is or who may become obligated to a Debtor under, with respect to, or on account of
an Account.

 

“Chattel
Paper” shall have the meaning set forth in Article 9 of the UCC.

 

    	 	PAGE 2	 

     

    

 

“Collateral”
means all of Debtors’ right, title and interest in, to and under all of the following Property, whether now existing or hereafter
arising, and regardless of where located and, in each case, all Supporting Obligations and all accessions to, substitutions and
replacements for, Proceeds and products of the following, together with all books and records, customer lists, credit files, computer
files, programs, printouts and other computer materials and records related thereto and any General Intangibles at any time evidencing
or relating to any of the following and all collateral security and guarantees given by any Person with respect to any of the following:
all Accounts, Chattel Paper, Commercial Tort Claims, Deposit Accounts (including all funds, certificates, checks, drafts, wire
transfer receipts, and other earnings, profits, or other proceeds from time to time representing, evidencing, deposited into, or
held in Deposit Accounts), Securities Accounts, Commodities Accounts, and all other demand, deposit, time, savings, cash management,
passbook and similar accounts maintained by such Debtor with any bank or other financial institution, all Security Entitlements
in any or all of the foregoing and all monies, securities, Instruments and other investments deposited or required to be deposited
in any of the foregoing, Documents, Equipment, Financial Assets, Fixtures, General Intangibles, Goods, Money, cash and Cash Equivalents,
all Contracts together with all Contract Rights arising thereunder, Instruments, Intellectual Property, Inventory, Investment Property,
letters of credit, Letter-of-Credit Rights, Pledged Equity, Securities, Stock Rights, all other personal property not otherwise
described in the foregoing, in each case, now owned or at any time hereafter acquired by such Debtor or in which such Debtor now
has or at any time in the future may acquire any right, title or interest.

 

“Collateral
Agency Agreement” means that certain Collateral Agency Agreement, dated as of the date hereof, by and among Parent,
Borrower, the other Debtors party thereto from time to time, the Administrative Agent, the Term Administrative Agent, the Collateral
Agent and each other secured representative party thereto from time to time, as amended, amended and restated, supplemented or
otherwise modified from time to time.

 

“Collateral
Agent” has the meaning set forth in the introductory paragraph hereof.

 

“Commercial
Tort Claims” shall have the meaning set forth in Article 9 of the UCC.

 

“Control”
shall have the meaning set forth in Article 8 or, if applicable, in Section 9-104, 9-105, 9-106 or 9-107 of Article 9 of the UCC.

 

“Copyrights”
means all United States and foreign copyrights, whether registered or unregistered and whether published or unpublished, now or
hereafter in force throughout the world, all registrations and applications therefor, including the registrations and applications
referred to in Schedule 2 under the heading “Copyrights”, all rights and privileges corresponding thereto throughout
the world, whether as author, assignee, transferee or otherwise, all registrations and applications for registration, including
extensions, continuations, reissues and renewals of any thereof, the right to sue for past, present and future infringements of
any of the foregoing, and all Proceeds of the foregoing, including, without limitation, with respect to the foregoing, Proceeds
from licenses, royalties, fees, income, payments, claims, damages and registrations, recordings, supplemental registrations and
pending applications for registration in the relevant IP Filing Office.

 

“Debtor”
has the meaning set forth in the introductory paragraph hereof.

 

“Deposit
Accounts” shall have the meaning set forth in Article 9 of the UCC and includes, without limitation, those Deposit
Accounts identified on Schedule 1.

 

“Documents”
shall have the meaning set forth in Article 9 of the UCC.

 

“Electronic
Chattel Paper” shall have the meaning set forth in Article 9 of the UCC.

 

“Equipment”
shall have the meaning set forth in Article 9 of the UCC.

 

“Exhibit”
refers to a specific exhibit to this Security Agreement, unless another document is specifically referenced.

 

    	 	PAGE 3	 

     

    

 

“Excluded
Account” means, as of any date of determination, each Deposit Account that is, as of such date, (a) a payroll account
containing a balance not exceeding the amount of payroll expenses for one payroll period, (b) a tax withholding account, (c) a
zero balance account (other than any lockbox accounts, to the extent account control agreements are permitted by the applicable
depository bank), (d) a petty cash account containing a balance not exceeding $50,000 per account and not to exceed $250,000 for
all such petty cash accounts in the aggregate or (e) a trust account holding royalty payments and working interest payments solely
to the extent constituting property of a third party held in trust.

 

“Excluded
Property” means the following:

 

(a)          any
lease (other than an oil and gas lease), license, contract or agreement to which any Debtor is a party or any of its rights or
interests thereunder if and only if for so long as the grant of a lien or security interest under this Security Agreement will
constitute or will result in a termination under, or a default or a breach thereof that would give the other party thereto (excluding
any Affiliates of any Debtor) the right to terminate any such lease, license, contract or agreement (other than (a) to the extent
that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC or any other applicable
law or principles of equity, or (b) to the extent such other party consents to the grant of such lien or security interest on such
lease, license, contract or agreement);

 

(b)          any
Equity Interests of a Foreign Subsidiary, or any Domestic Subsidiary, that has no material assets other than the Equity Interests
of one or more Foreign Subsidiaries (such Domestic Subsidiary being a “FSHCO”) in excess of 65% of the
voting rights of all outstanding Equity Interests of such Foreign Subsidiary or FSHCO and any Equity Interests issued by any Foreign
Subsidiaries or any FSHCO other than Foreign Subsidiaries and FSHCOs directly owned by Debtor;

 

(c)          any
deposit account which is used as an escrow account or as a fiduciary or trust account and solely contains deposits made for the
benefit of another Person (other than Parent or any of its Subsidiaries), and which such deposits are held in such Deposit Account
on behalf of, and for the benefit of, such other Person;

 

(d)          any
intent to use trademark or service mark application to the extent, if any, that, and solely during the period, if any, in which,
the grant of a security interest used therein would impair the availability or enforceability of such intent to use trademark or
service mark application under applicable federal law; and

 

(e)          any
interests in partnerships, joint ventures and subsidiaries of Borrower that are not wholly-owned subsidiaries which cannot be pledged
without the consent of one or more third parties other than a Debtor and/or any of their respective subsidiaries (after giving
effect to Section 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction
or any other applicable law);

 

provided that,
Proceeds, substitutions or replacements of any Excluded Property referred to above shall not constitute “Excluded Property”
solely by virtue of being Proceeds, substitutions or replacements thereof but shall constitute “Excluded Property”
only to the extent that such Proceeds, substitutions or replacements otherwise independently constitute Excluded Property hereunder.

 

Notwithstanding anything
to the contrary contained herein, immediately upon the ineffectiveness, lapse or termination of any restriction or condition causing
or resulting in such Property to constitute Excluded Property pursuant to this definition, the Collateral shall include, and the
applicable Debtor shall be deemed to have granted a continuing lien and security interest in, all relevant previously restricted
or conditioned right, title and interest in, to and under such Property as if such restriction or condition had never been in effect.

 

    	 	PAGE 4	 

     

    

 

“Financial
Asset” shall have the meaning set forth in Article 8 of the UCC.

 

“Fixtures”
shall have the meaning set forth in Article 9 of the UCC.

 

“General
Intangibles” shall have the meaning set forth in Article 9 of the UCC.

 

“Intellectual
Property” means all Copyrights, Patents, Trademarks, Trade Secrets and Intellectual Property Licenses.

 

“Intellectual
Property Licenses” means any and all written agreements providing for the granting of any right in, or to, any Person’s
owned Intellectual Property (whether such Person is licensee or licensor thereunder) and all renewals and extensions thereof.

 

“Intellectual
Property Security Agreement” means a short-form security agreement, substantially in the form of Exhibit 2
to this Agreement, executed by each applicable Debtor and the Collateral Agent (or any analogous agreement or filing under applicable
law, as may be reasonably requested by the Collateral Agent or reasonably necessary to evidence the Collateral Agent’s lien
and security interest in any IP Registration).

 

“IP Filing
Office” means, as applicable, the United States Patent and Trademark Office or the United States Copyright Office.

 

“IP Registrations”
means, with respect to any Debtor, (a) registrations of Patents, Trademarks and Copyrights and (b) applications of registration
or publication thereof, in each case made with the relevant IP Filing Office.

 

“Inventory”
shall have the meaning set forth in Article 9 of the UCC.

 

“Investment
Property” shall have the meaning set forth in Article 9 of the UCC, and, in any event, shall include, without limitation,
all of the following, whether now owned or hereafter acquired by such Debtor: (a) any security, whether certificated or uncertificated;
(b) any security entitlement; (c) any Securities Account (including, without limitation, those described on Schedule
3); (d) any commodity contract; and (e) any Commodities Account (including, without limitation, those identified
on Schedule 3)

 

“Letter-of-Credit
Right” shall have the meaning set forth in Article 9 of the UCC.

 

“Patents”
means all United States and foreign patents and applications therefor throughout the world, including each patent and patent application
referred to in Schedule 2 under the heading “Patents”, all reissues, divisionals, continuations, continuations-in-part,
extensions, renewals and reexaminations of any of the foregoing, all rights and privileges corresponding thereto throughout the
world, the right to sue for past, present and future infringements of any of the foregoing, and all Proceeds of the foregoing,
including, with respect to the foregoing, Proceeds from licenses, royalties, fees, income, payments, claims, damages, and suit.

 

“Pledged
Collateral” means all Pledged Equity, Instruments, Securities and other Investment Property.

 

    	 	PAGE 5	 

     

    

 

“Pledged
Equity” means, with respect to each Debtor, all of such Debtor’s right, title, and interest in, to and under
all Equity Interests of any other Person (as used in this definition, each, an “Issuer”), including,
without limitation, the Equity Interests of such Debtor’s subsidiaries set forth on Schedule 3, in each case, together
with the certificates (or other agreements or instruments), if any, representing such Equity Interests, and all options and other
rights, contractual or otherwise, with respect thereto, including, but not limited to, the following:

 

(a)          all
Equity Interests representing a non-cash dividend thereon, or representing distribution or return of capital upon or in respect
thereof, or resulting from a stock split, revision, reclassification or other exchange therefor, and any subscriptions, warrants,
rights or options issued to the holder thereof, or otherwise in respect thereof; and

 

(b)          in
the event of any consolidation or merger involving the issuer thereof and in which such Issuer is not the surviving Person, all
shares of each class of the Equity Interests of the successor Person formed by or resulting from such consolidation or merger,
to the extent that such successor Person is a direct subsidiary of such Debtor.

 

“Proceeds”
shall have the meaning set forth in Article 9 of the UCC and, in any event, shall include, but not be limited to, (a) any
and all proceeds of any insurance, indemnity, warranty, or guaranty payable to a Debtor from time to time with respect to any of
the Collateral, (b) any and all payments (in any form whatsoever) made or due and payable to such Debtor from time to
time in connection with any requisition, confiscation, condemnation, seizure, or forfeiture of all or any part of the Collateral
by any Governmental Authority (or any Person acting under color of Governmental Authority), and (c) any and all other amounts
from time to time paid or payable under or in connection with any of the Collateral.

 

“Receivables”
means the Accounts, Chattel Paper, Documents, Investment Property, Instruments, or Commercial Tort Claims, and any other rights
or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

 

“Secured
Obligations” means all Priority Lien Obligations.

 

“Security”
shall have the meaning set forth in Article 8 of the UCC.

 

“Stock
Rights” means any securities, dividends or other distributions and any other right or property which a Debtor shall
receive or shall become entitled to receive for any reason whatsoever with respect to, in substitution for or in exchange for any
securities or other ownership interests in a corporation, partnership, joint venture or limited liability company constituting
Collateral and any securities, any right to receive securities and any right to receive earnings, in which such Debtor now has
or hereafter acquires any right, issued by an issuer of such securities.

 

“Tangible
Chattel Paper” shall have the meaning set forth in Article 9 of the UCC.

 

“UCC”
means the Uniform Commercial Code as in effect in the State of New York, as the same has been or may be amended or revised from
time to time, or, if so required with respect to the attachment, perfection or priority of the Collateral Agent’s or any
other Priority Lien Secured Party’s lien and security interest in any Collateral by mandatory provisions of applicable law,
as in effect in such other jurisdiction.

 

The foregoing definitions
shall be equally applicable to both the singular and plural forms of the defined terms.

 

    	 	PAGE 6	 

     

    

 

Article
II

GRANT OF SECURITY INTERESt

 

2.1           Security
Interest. Each Debtor hereby pledges, assigns, mortgages, transfers, hypothecates and grants to Collateral Agent for the ratable
benefit of the Priority Lien Secured Parties a continuing first-priority (subject to Liens permitted by the Priority Lien Documents)
security interest in all of such Debtor’s right, title and interest in, to and under the Collateral to secure the prompt
and complete payment and performance in full of the Secured Obligations. Administrative Agent acknowledges that the attachment
of its lien and security interest arising hereunder in any Commercial Tort Claim of a Debtor is subject to such Debtor’s
compliance with Section 5.10. Each Debtor acknowledges that the Secured Obligations are owed to various Priority Lien Secured Parties
and that each Priority Lien Secured Party is entitled to the ratable benefit of the lien and security interest created by this
Security Agreement.

 

2.2           Debtors
Remain Liable. Notwithstanding anything to the contrary contained herein, (a) each Debtor shall remain liable under the
contracts and agreements included in the Collateral to the extent set forth therein to perform all of its respective duties and
obligations thereunder, (b) the exercise by Collateral Agent of any of its rights hereunder shall not release any Debtor from
any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) neither the Collateral
Agent nor any other Priority Lien Secured Party shall have any obligation or liability under any of the contracts and agreements
included in the Collateral by reason of, or arising out of, this Security Agreement , nor shall Collateral Agent or any other Priority
Lien Secured Party be obligated to perform any of the obligations or duties of a Debtor thereunder or pursuant thereto or to take
any action to collect or enforce any claim for payment assigned, or to which the Priority Lien Secured Parties are entitled to,
hereunder.

 

2.3           Authorization
to File Financing Statements. Each Debtor hereby authorizes the Collateral Agent to file, and if requested will execute and/or
deliver to the Collateral Agent, all financing statements and other documents and take such other actions as may from time to time
be reasonably requested by the Collateral Agent in order to maintain a
first-priority, valid, enforceable, perfected security interest in and, to the extent required hereunder, Control of, the
Collateral. Any financing statement filed by the Collateral Agent may be filed in any filing office
in any relevant UCC jurisdiction and may indicate such Debtor’s Collateral (i) as
all assets of such Debtor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls
within the scope of Article 9 of the UCC or such jurisdiction, or (ii) by
any other description which reasonably approximates the description contained in this Security Agreement, and contain any other
information required by part 5 of Article 9 of the UCC for the sufficiency or filing office acceptance of any financing statement
or amendment, including whether such Debtor is an organization, the type of organization and any organization identification number
issued to such Debtor, and (iii) in the case of a financing statement
filed as a fixture filing or indicating such Debtor’s Collateral as as-extracted collateral or timber to be cut, a sufficient
description of real property to which the Collateral relates. Such Debtor also agrees to furnish any such information to the Collateral
Agent promptly upon request. Such Debtor also ratifies its authorization for the Collateral Agent to file, on or prior to the date
hereof, in any UCC jurisdiction, any financing statements or amendments thereto.

 

2.4           Limited
Exclusions. Notwithstanding Section 2.1 or the definition of “Collateral” to the contrary, the lien and
security interest granted hereunder shall not extend to, and the term “Collateral” shall not include, any Excluded
Property.

 

    	 	PAGE 7	 

     

    

 

Article
III

REPRESENTATIONS AND WARRANTIES 

 

Each
Debtor represents and warrants to Collateral Agent that:

 

3.1        Title,
Authorization, Validity, Perfection and Enforceability. Such Debtor has good title to the Collateral and none of the Collateral
is subject to any Lien, except for Liens permitted by the Priority Lien Documents, and has full power and authority to grant to
Collateral Agent the lien and security interest in such Collateral pursuant hereto and the other Security Instruments. The execution
and delivery by such Debtor of this Security Agreement has been duly authorized by necessary corporate, limited liability company
or partnership, as applicable, action and this Security Agreement constitutes a legal, valid, and binding obligation of each Debtor.
When UCC financing statements in appropriate form in accordance with the
UCC have been filed in the appropriate offices against such Debtor in the locations listed on Schedule 5 and in the
case of Pledged Equity constituting a Security, delivery of a stock certificate or equivalent certificate accompanied by duly executed
instruments of transfer or assignment in blank, the Collateral Agent will have a fully perfected, first-priority
(subject to Liens permitted by the Priority Lien Documents) lien and security interest in that Collateral of the Debtor upon which
a security interest may be perfected by such filings or, in the case of Pledged Equity, perfection by control.

 

3.2           Conflicting
Laws and Contracts. Neither the execution and delivery by such Debtor of this Security Agreement, the creation and perfection
of the security interest in the Collateral granted hereunder, nor compliance with the terms and provisions hereof will violate
any applicable law, any order of any Governmental Authority or such Debtor’s Organizational Documents, the provisions of
any indenture, instrument or agreement to which such Debtor is a party or is subject, or by which it, or its property, is bound,
or conflict with or constitute a default thereunder, or result in the creation or imposition of any Lien pursuant to the terms
of any such indenture, instrument or agreement (other than any Lien permitted by the Priority Lien Documents).

 

3.3           Principal
Location. As of the Effective Date, such Debtor’s address for notices and the location of its chief executive office
are disclosed in Schedule 4. 

 

3.4           [Reserved].

 

3.5           Deposit,
Commodity, and Securities Account. Schedule 1 (as such schedule may be updated by Borrower from time to time) correctly
identifies all Deposit Accounts, Commodities Accounts, and Securities Accounts maintained by, or on behalf of, such Debtor and
the institutions holding such accounts.

 

3.6           Pledged
Equity and Other Investment Property. Schedule 3 (as such schedule may be updated by Borrower from time to time) sets
forth a complete and accurate list of the Pledged Collateral in which such Debtor has any right, title or interest. Except as set
forth on Schedule 3 (as such schedule may be updated by Borrower from time to time), such Debtor is the direct and beneficial
owner of all Pledged Collateral listed on Schedule 3 (as such schedule may be updated by Borrower from time to time). Such
Debtor further represents and warrants that (i) all of such Debtor’s Pledged Equity is duly and validly issued, and
fully paid and non-assessable and (ii) with respect to any certificates delivered to Collateral Agent representing an ownership
interest in any Issuer of Pledged Equity, such certificates are Securities as defined in Article 8 of the UCC of the applicable
jurisdiction as a result of actions by the issuer or otherwise. All certificates or instruments representing or evidencing the
Pledged Collateral, which, if acquired by any Debtor after the Effective Date, would be required to be delivered pursuant to the
Priority Lien Documents and Section 5.3 hereof, have been delivered to the Collateral Agent in suitable form for transfer
by delivery or accompanied by duly executed instruments of transfer or assignment in blank and that the Collateral Agent has a
perfected first-priority (subject only to Liens permitted by the Priority Lien Documents) lien and security interest therein.

 

    	 	PAGE 8	 

     

    

 

3.7           No
Financing Statements. No financing statement describing all or any portion of the Collateral, to the extent not lapsed or terminated,
naming such Debtor as debtor is filed or of record in any jurisdiction except (i) financing statements naming Collateral Agent
as the secured party, and (ii) financing statements filed with respect to Liens permitted by the Priority Lien Documents.

 

3.8           Identification
Numbers. Such Debtor’s Federal employer identification number and state organizational identification number are listed
on Schedule 5.

 

The failure of any of
these representations or warranties or any description of Collateral therein to be accurate or complete shall not impair the security
interest in any such Collateral.

 

Article
IV

CONCERNING INTELLECTUAL PROPERTY

 

4.1           Registrations.
Schedule 2 sets forth, as of the Effective Date, a true and complete list of any Intellectual Property in which each Debtor
has any right, title or interest.

 

4.2           Intellectual
Property.

 

(a)          Upon
filing of appropriate financing statements with the Secretary of State (or equivalent office) of the state of organization of such
Debtor and the filing of the Intellectual Property Security Agreement with the appropriate IP Filing Office, the Collateral Agent
shall have a fully perfected first-priority (except for Liens permitted by the Priority Lien Documents) Lien on the Collateral
constituting United States issued, registered or applied for Patents, Trademarks and Copyrights under the UCC and the laws of the
United States for the ratable benefit of the Priority Lien Secured Parties, and such perfected security interests shall be enforceable
as such as against any and all creditors of and purchasers from Debtors, subject to applicable law.

 

(b)          No
Debtor has knowledge of (i) any third-party claim (A) that any of its owned Patent, Trademark or Copyright registrations or applications
is invalid or unenforceable, or (B) challenging such Debtor’s rights to such registrations and applications or (ii) any basis
for such claims other than, in each case, to the extent any such third-party claim would not reasonably be expected to have a Material
Adverse Effect.

 

4.3           Covenants.

 

(a)          (i)
At any time when a Priority Lien Debt Default exists and is continuing and upon the written request of the Collateral Agent, each
Debtor will (i) use its commercially reasonable efforts to obtain all consents and approvals necessary for the assignment to or
for the benefit of the Collateral Agent of any material Intellectual Property License held by such Debtor in the United States
to enable the Collateral Agent to enforce the security interests granted hereunder and (ii) to the extent required pursuant to
any material Intellectual Property License in the United States under which such Debtor is the licensee, deliver to the licensor
thereunder any notice of the grant of security interest hereunder or such other notices required to be delivered thereunder in
order to permit the security interest created or permitted to be created hereunder pursuant to the terms of such Intellectual Property
License.

 

    	 	PAGE 9	 

     

    

 

(b)          Each
Debtor shall notify the Collateral Agent promptly if it knows that any application for or registration of any Patent, Trademark
or Copyright (now or hereafter existing) has become abandoned or dedicated to the public, or of any determination or development
(including the institution of, or any such determination or development in, any proceeding in any IP Filing Office or any court)
abandoning such Debtor’s ownership of any such Patent, Trademark or Copyright, its right to register the same, or to keep
and maintain the same, except, in each case, to the extent the same is permitted or not restricted by the Priority Lien Documents
or where the same, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

 

(c)          In
the event that any Debtor files an application for the registration of any IP Filing Office, acquires any such application or registration
by purchase or assignment, in each case, after the Effective Date and to the extent the same constitutes Collateral (and other
than as a result of an application that is then subject to an Intellectual Property Security Agreement becoming registered), it
shall, (or such longer period as the Collateral Agent may reasonably agree), notify the Collateral Agent and, promptly upon the
Collateral Agent’s request, execute and deliver to the Collateral Agent, at such Debtor’s sole cost and expense, any
Intellectual Property Security Agreement or other instrument as the Collateral Agent may reasonably request and require, promptly
(in any event, on or before the next date on which a certificate required by any Priority Lien Document is required to be delivered
(or such longer period as the Collateral Agent may agree)) to evidence the Collateral Agent’s security interest in such registered
Patent, Trademark or Copyright (or application therefor), and the General Intangibles of such Debtor relating thereto or represented
thereby.

 

(d)          Each
Debtor shall take all actions reasonably necessary to (i) maintain and pursue each application for, and to obtain and maintain
the registration of each material Patent, Trademark and, to the extent consistent with past practice, Copyright included in the
Collateral (now or hereafter existing), including by filing applications for renewal, affidavits of use, affidavits of noncontestability
and, if necessary (as determined by such Debtor in the exercise of its good faith and reasonable business judgment), by initiating
opposition and interference and cancellation proceedings against third parties and (ii) otherwise protect and preserve such Debtor’s
rights in, and the validity or enforceability of, its Intellectual Property Collateral, in each case except where failure to do
so (A) could not reasonably be expected to result in a Material Adverse Effect, or (B) is otherwise permitted under the Priority
Lien Documents.

 

(e)          Each
Debtor shall promptly notify the Agent of any material infringement or misappropriation of such Debtor’s Patents, Trademarks
or Copyrights of which it becomes aware and shall take such actions as are reasonable and appropriate, in the good faith and reasonable
business judgment of the applicable Debtor, under the circumstances to protect such Patent, Trademark or Copyright, except where
such infringement or misappropriation could not reasonably be expected to cause a Material Adverse Effect.

 

    	 	PAGE 10	 

     

    

 

Article
V

COVENANTS

 

From the date of this
Security Agreement, and thereafter until the earlier of (x) the Discharge of Priority Lien Obligations and (y) the release of such
Debtor in accordance with the Collateral Agency Agreement, each Debtor agrees as follows:

 

5.1           General

 

5.1.1           Priority
Lien Document Covenants. Reference is hereby made to the covenants of Borrower set forth in the Priority Lien Documents. Each
Debtor agrees to comply with such covenants on the terms and provisions set forth therein.

 

5.1.2           Financing
Statements and Other Actions; Defense of Title. Each Debtor agrees to take any and all actions reasonably necessary to defend
title to the Collateral against all Persons (other than Liens permitted by the Priority Lien Documents to the extent such Liens
are permitted to have priority over the Collateral Agent’s lien and security interest) and to defend the lien and security
interest of the Collateral Agent in the Collateral and the priority thereof against any Lien that is not permitted by the Priority
Lien Documents.

 

5.1.3           [Reserved.]

 

5.1.4           Other
Financing Statements. Such Debtor will not file or authorize the filing on its behalf of any financing statement naming it
as debtor covering all or any portion of the Collateral, except in connection with Liens permitted by the Priority Lien Documents.

 

5.2           Safekeeping
of Inventory; Inventory Covenants. Collateral Agent shall not be responsible for (i) the safekeeping of the Inventory;
(ii) any loss or damage thereto or destruction thereof occurring or arising in any manner or fashion from any cause; (iii) any
diminution in the value of Inventory or (iv) any act or default of any carrier, warehouseman, bailee or forwarding agency
or any other Person in any way dealing with or handling the Inventory, except to the extent that such Debtor incurs any loss, cost,
claim or damage from any of the foregoing as a result of the gross negligence or willful misconduct of Collateral Agent. All risk
of loss, damage, distribution or diminution in value of the Inventory shall, except as noted in the previous sentence, be borne
by such Debtor.

 

5.3           Instruments,
Securities, Chattel Paper, and Documents. Each Debtor will (i) on the Effective Date (or such later date agreed to by
the Collateral Agent), deliver to Collateral Agent originals of all Pledged Collateral accompanied by instruments of transfer or
assignment duly executed in blank, (ii) after the Effective Date, hold in trust for Collateral Agent upon receipt and promptly
thereafter (but in any event not to exceed five (5) Business Days) deliver to Collateral Agent all Pledged Collateral otherwise
required to be delivered hereunder accompanied by instruments of transfer or assignment duly executed in blank, and (iii) upon
Collateral Agent’s request, promptly (but in any event not to exceed five (5) Business Days) deliver to Collateral Agent
(and thereafter hold in trust for Collateral Agent upon receipt and promptly (but in any event not to exceed five (5) Business
Days) deliver to Collateral Agent) any Document evidencing or constituting Collateral.

 

    	 	PAGE 11	 

     

    

 

5.4           Uncertificated
Securities and Certain Other Investment Property. Such Debtor will permit Collateral Agent from time to time to cause the appropriate
issuers (and, if held with a securities intermediary, such securities intermediary) of uncertificated securities or other types
of Investment Property not represented by certificates which are Collateral to mark their books and records with the numbers and
face amounts of all such uncertificated securities or other types of Investment Property not represented by certificates and all
rollovers and replacements therefor to reflect the Lien and security interest of Collateral Agent granted pursuant to this Security
Agreement. Such Debtor will take any actions necessary to cause (i) the issuers of uncertificated securities which are Collateral
and which are Securities and (ii) any financial intermediary which is the holder of any Investment Property, to cause Collateral
Agent to have and retain Control over such Securities or other Investment Property. Without limiting the foregoing, such Debtor
will, with respect to Investment Property held with financial intermediary, cause such financial intermediary to enter into an
Account Control Agreement with Collateral Agent in form and substance satisfactory to Collateral Agent.

 

5.5           Stock
and Other Ownership Interests.

 

5.5.1           Issuance
of Additional Securities. Such Debtor will not permit or suffer the issuer of privately held corporate securities or other
ownership interests in a corporation, partnership, joint venture or limited liability company constituting Collateral to issue
any such securities or other ownership interests, any right to receive the same or any right to receive earnings, except to such
Debtor.

 

5.5.2           Registration
in Nominee Name. The Collateral Agent, on behalf of the Priority Lien Secured Parties, shall hold certificated Pledged Collateral,
required under this Security Agreement to be delivered to the Collateral Agent, in the name of the applicable Debtor, endorsed
or assigned in blank or in favor of the Collateral Agent.

 

5.5.3           Issuance
of Securities. Such Debtor shall not permit any limited partnership interests or ownership interests in a limited liability
company, in each case constituting Pledged Equity, to at any time constitute a Security or consent to the issuer of any such Pledged
Equity taking any action to have such Pledged Equity treated as a Security unless (i) all certificates or other document constituting
such Pledged Equity have been delivered to Collateral Agent and such Pledged Equity is properly defined as a Security under Article
8 of the UCC of the applicable jurisdiction, whether as a result of actions by the issuer thereof or otherwise, or (ii) Collateral
Agent has entered into control agreement with the issuer of such Security or with a securities intermediary relating to such Security
and such Security is defined as such under Article 8 of the UCC of the applicable jurisdiction, whether as a result of actions
by the issuer thereof or otherwise.

 

5.6          Accounts.

 

5.6.1           Verification
of Accounts. The Collateral Agent may at any time and from time to time in the Collateral Agent's own name, in the name of
a nominee of the Collateral Agent, or in the name of any Debtor communicate (by mail, telephone, facsimile or otherwise) with the
Account Debtors of such Debtor, parties to contracts with such Debtor and obligors in respect of Instruments of such Debtor to
verify with such Persons, to the Collateral Agent's reasonable satisfaction, the existence, amount, terms of, and any other matter
relating to, Accounts, Instruments, Chattel Paper, payment intangibles and/or other Receivables that are Collateral.

 

    	 	PAGE 12	 

     

    

 

5.6.2           Appointment
of the Agent as Attorney-in-Fact. Such Debtor hereby irrevocably designates, makes, constitutes and appoints Collateral Agent
(and all Persons designated by Collateral Agent), exercisable after a Priority Lien Debt Default has occurred and is continuing,
as its true and lawful attorney-in-fact, and authorizes Collateral Agent, in such Debtor’s or Collateral Agent’s name,
to: (i) demand payment of Accounts; (ii) enforce payment of Accounts by legal proceedings or otherwise; (iii) exercise
all of such Debtor’s rights and remedies with respect to proceedings brought to collect an Account; (iv) sell or assign
any Account upon such terms, for such amount and at such time or times as Collateral Agent deems advisable; (v) settle, adjust,
compromise, extend or renew an Account; (vi) discharge and release any Account; (vii) take control in any manner of any
item of payment or proceeds thereof; (viii) prepare, file and sign such Debtor’s name on any proof of claim in bankruptcy
or other similar document against an Account Debtor; (ix) endorse such Debtor’s name upon any items of payment or proceeds
thereof and deposit the same in Collateral Agent’s account on account of the Secured Obligations; (x) endorse such Debtor’s
name upon any chattel paper, document, instrument, invoice, or similar document or agreement relating to any Account or any goods
pertaining thereto; (xi) sign such Debtor’s name on any verification of Accounts and notices thereof to Account Debtor;
(xii) notify the post office authorities to change the address for delivery of such Debtor’s mail to an address designated
by Collateral Agent, have access to any lock box or postal box into which any of such Debtor’s mail is deposited, and open
and dispose of all mail addressed to such Debtor, and (xiii) do all acts and things which are necessary, in Collateral Agent’s
sole discretion, to fulfill such Debtor’s obligations under this Security Agreement.

 

5.6.3           Notice
to Account Debtor. Collateral Agent may, in its sole discretion, at any time or times after a Priority Lien Debt Default has
occurred and is continuing, and without prior notice to such Debtor, notify any or all Account Debtors that the Accounts have been
assigned to Collateral Agent and that Collateral Agent has a security interest therein. Collateral Agent may direct any or all
Account Debtors to make all payments upon the Accounts directly to Collateral Agent. Collateral Agent shall furnish such Debtor
with a copy of such notice.

 

5.7           Deposit
Accounts. Subject to the Priority Lien Documents, for each Deposit Account, Securities Account and Commodities Account (other
than Excluded Accounts) that such Debtor at any time maintains, such Debtor will, substantially contemporaneously with the later
of (a) the Effective Date and (b) the date such Deposit Account, Securities Account or Commodities Account (other than Excluded
Accounts) is established or created, pursuant to an Account Control Agreement in form and substance reasonably satisfactory to
the Collateral Agent, cause the depository bank that maintains such Deposit Account, securities intermediary that maintains such
Securities Account, or commodities intermediary that maintains such Commodities Account, as applicable, to agree to, after the
occurrence and during the continuance of a Priority Lien Debt Default, comply at any time with instructions from the Collateral
Agent to such depository bank, securities intermediary or commodities intermediary directing the disposition of funds from time
to time credited to such Deposit Account, Securities Account or Commodities Account, without further consent of such Debtor, or
take such other action as the Collateral Agent may request in order to perfect the Collateral Agent’s security interest in
such Deposit Account, Securities Account or Commodities Account.

 

5.8           Federal,
State or Municipal Claims. Such Debtor will notify Collateral Agent of any Collateral which constitutes a claim against a Governmental
Authority, the assignment of which claim is restricted by federal, state or municipal law.

 

5.9           Warehouse
Receipts Non-Negotiable. Such Debtor agrees that if any warehouse receipt or receipt in the nature of a warehouse receipt is
issued with respect to any of its inventory, such warehouse receipt or receipt in the nature thereof shall not be “negotiable”
(as such term is used in Section 7-104 of the UCC).

 

5.10         Commercial
Tort Claims. If such Debtor at any time holds or acquires a Commercial Tort Claim with a value in excess of $250,000 individually
or $500,000 in the aggregate, such Debtor shall immediately notify Collateral Agent in writing of the details thereof and grant
to Collateral Agent in writing a security interest therein or lien thereon and in the Proceeds thereof, in form and substance satisfactory
to Collateral Agent.

 

    	 	PAGE 13	 

     

    

 

5.11         Letters-of-Credit
Rights. If such Debtor is at any time a beneficiary under a letter of credit with a value in excess of $250,000 individually
or $500,000 in the aggregate, now or hereafter issued in favor of such Debtor, such Debtor shall promptly notify Collateral Agent
thereof in writing and, at Collateral Agent’s request, such Debtor shall, pursuant to an agreement in form and substance
satisfactory to Collateral Agent, either (a) arrange for the issuer or any confirmer of such letter of credit to consent to
an assignment to Collateral Agent of the proceed of any drawing under the letter of credit or (b) arrange for Collateral Agent
to become the transferee beneficiary of the letter of credit, with Collateral Agent agreeing, in each case, that the proceeds of
any drawing under the letter of credit are to be applied as provided in the Credit Agreement.

 

Article
VI

 

 REMEDIES

 

6.1         Acceleration
and Remedies. (a) Upon the occurrence and during the continuation of a Priority Lien Debt Default, subject to the terms and
conditions in the Collateral Agency Agreement, the Collateral Agent shall exercise any or all of the following rights and remedies:

 

(i)          Those
rights and remedies provided in this Security Agreement, the Collateral Agency Agreement, any other Security Instrument or any
Priority Lien Document.

 

(ii)         Those
rights and remedies available to a secured party under the UCC (whether or not the UCC applies to the affected Collateral) or under
any other applicable law (including, without limitation, any law governing the exercise of a bank's right of setoff or bankers'
lien) when a debtor is in default under a security agreement.

 

(iii)        Without
notice, except as specifically provided in Section 6.3 or elsewhere herein, demand or advertisement of any kind to any Debtor
or any other Person, enter the premises of any Debtor where any Collateral is located (through self-help and without judicial process)
to collect, receive, assemble, process, appropriate, sell, lease, assign,
grant an option or options to purchase or otherwise dispose of, deliver, or realize upon, the Collateral or any part thereof in
one or more parcels at public or private sale or sales (which sales may be adjourned or continued from time to time with or without
notice and may take place at any Debtor's premises or elsewhere), for cash, on credit or for future delivery without assumption
of any credit risk, and upon such other terms as the Collateral Agent may deem commercially reasonable.

 

(iv)        Concurrently
with written notice to the applicable Debtor, transfer and register in its name or in the name of its nominee the whole or any
part of the Pledged Equity, to exchange certificates or instruments representing or evidencing Pledged Equity for certificates
or instruments of smaller or larger denominations, to exercise the voting and all other rights as a holder with respect thereto,
to collect and receive all cash dividends, interest, principal and other distributions made thereon and to otherwise act with respect
to the Pledged Equity as though the Collateral Agent was the outright owner thereof.

 

    	 	PAGE 14	 

     

    

 

(v)         With
respect to any Collateral consisting of Intellectual Property or an Intellectual Property License, on demand, cause the security
interest to become an assignment, transfer and conveyance of any or all of such Collateral by the applicable Debtors to the Collateral
Agent, or to license or sublicense, whether general, special or otherwise, and whether on an exclusive or non-exclusive basis,
any such Collateral throughout the world on such terms and conditions and in such manner as the Collateral Agent may determine
(other than where such assignment, transfer, conveyance, license or sublicense would constitute a breach or violation of any then-existing
Intellectual Property Licenses or any other licensing arrangements to the extent that waivers cannot be obtained or to the extent
such assignment, transfer or conveyance would impair the validity or enforceability of, or result in the abandonment of, such Intellectual
Property or Intellectual Property License).

 

(b)          The
Collateral Agent, on behalf of the Priority Lien Secured Parties, may comply with any applicable state or federal law requirements
in connection with a disposition of the Collateral and compliance will not be considered to adversely affect the commercial reasonableness
of any sale of the Collateral.

 

(c)          The
Collateral Agent 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 for the benefit of the Collateral Agent and the Priority Lien Secured Parties, the whole or any part
of the Collateral so sold, free of any right of equity redemption, which equity redemption the Debtor hereby expressly releases.

 

(d)          Until
the Collateral Agent is able to effect a sale, lease, or other disposition of Collateral, the Collateral Agent shall have the right
to hold or use Collateral, or any part thereof, to the extent that it deems appropriate for the purpose of preserving Collateral
or its value or for any other purpose deemed appropriate by the Collateral Agent. The Collateral Agent may, if it so elects, seek
the appointment of a receiver or keeper to take possession of Collateral and to enforce any of the Collateral Agent’s remedies
(for the benefit of the Collateral Agent and Priority Lien Secured Parties), with respect to such appointment without prior notice
or hearing as to such appointment.

 

(e)          Notwithstanding
the foregoing, neither the Collateral Agent nor any Priority Lien Secured Party shall be required to (i) make any demand upon,
or pursue or exhaust any of their rights or remedies against, any Debtor, any other obligor, guarantor, pledgor or any other Person
with respect to the payment of the Indebtedness or to pursue or exhaust any of their rights or remedies with respect to any Collateral
therefor or any direct or indirect guarantee thereof, (ii) marshal the Collateral or any guarantee of the Indebtedness or to resort
to the Collateral or any such guarantee in any particular order, or (iii) effect a public sale of any Collateral.

 

(f)          Each
Debtor recognizes that the Collateral Agent may be unable to effect a public sale of any or all the Pledged Equity and may be compelled
to resort to one or more private sales thereof in accordance with clause (a) above. Each Debtor also acknowledges that any
private sale may result in prices and other terms less favorable to the seller than if such sale were a public
sale and, notwithstanding such circumstances, agrees that any such private sale shall not be deemed to have been made in a commercially
unreasonable manner solely by virtue of such sale being private. The Collateral Agent shall be under no obligation to delay a sale
of any of the Pledged Equity for the period of time necessary to permit any Debtor or the issuer of the Pledged Equity to register
such securities for public sale under the Securities Act of 1933, as amended, or under applicable state securities laws, even if
the applicable Debtor and the issuer would agree to do so.

 

    	 	PAGE 15	 

     

    

 

6.2          Debtor's
Obligations Upon Default. Upon the request of the Collateral Agent after the occurrence of a Priority Lien Debt Default and
during its continuation, each Debtor will:

 

(a)          assemble
and make available to the Collateral Agent the Collateral and all books and records relating thereto at any place or places specified
by the Collateral Agent, whether at a Debtor's premises or elsewhere;

 

(b)          permit
the Collateral Agent, by the Collateral Agent's representatives and agents, to enter, occupy and use any premises where all or
any part of the Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part
of the Collateral or the books and records relating thereto, or both, to remove all or any part of the Collateral or the books
and records relating thereto, or both, and to conduct sales of the Collateral, without any obligation to pay the Debtor for such
use and occupancy;

 

(c)          at
its own expense, cause the independent certified public accountants then engaged by each Debtor to prepare and deliver to the Collateral
Agent and each Lender, at any time, and from time to time, promptly upon the Collateral Agent’s request, the following reports
with respect to the applicable Debtor: (i) a reconciliation of all Accounts; (ii) an aging of all Accounts; (iii) trial balances;
and (iv) a test verification of such Accounts;

 

(d)          use
its commercially reasonable efforts to obtain all requisite consents or approvals by the licensor of each Intellectual Property
License to effect the assignment of all of such Debtor’s right, title and interest thereunder to the Collateral Agent or
its designee; and

 

(e)          grant
to the Collateral Agent an irrevocable (except for failure to comply with the terms and conditions set forth herein), non-exclusive
license (exercisable without payment of royalty or other compensation to Debtors) to use, license or sub-license, on a non-exclusive
basis only, any of the Collateral consisting of Intellectual Property (other than where such use, license, or sublicense would
constitute a breach or violation of any then-existing Intellectual Property Licenses or any other license arrangements), subject,
in the case of Trademarks, to sufficient rights to quality control and inspection in favor of such Debtor to avoid the risk of
abandonment, invalidation, unenforceability or dilution of such Trademark, now owned or hereafter acquired by such Debtor, and
wherever the same may be located, and including in such license reasonable access to all media in which any of the licensed items
may be recorded or stored and to all computer software and programs used for the compilation or printout thereof. Such license
to the Collateral Agent may be exercised, at the option of the Collateral Agent, only upon the occurrence and during the continuance
of a Priority Lien Debt Default; provided that any license, sub-license or other transaction entered into by the Collateral Agent
in accordance herewith will be binding upon Debtors notwithstanding any subsequent cure or waiver of a Priority Lien Debt Default.

 

No Debtor shall have
any obligation to register or qualify any Pledged Equity whether to enable the Collateral Agent to consummate a public sale or
other disposition of the Pledged Equity or otherwise.

 

6.3          Notice
of Disposition of Collateral. Each Debtor hereby agrees that notice of the time and place of any public sale or the time after
which any private sale or other disposition of all or any part of the Collateral may be made shall be deemed reasonable if sent
to such Debtor, addressed as set forth in Section 8.16, at least ten (10) days prior to (i) the date of any such public
sale or (ii) the time after which any such private sale or other disposition may be made.

 

    	 	PAGE 16	 

     

    

 

6.4           Deficiency.
In the event that the proceeds of any sale, collection or realization, of or upon, Collateral by Collateral Agent are insufficient
to pay all Secured Obligations and any other amounts to which Collateral Agent and the other Priority Lien Secured Parties are
legally entitled, Debtors shall be jointly and severally liable for the deficiency, together with interest thereon as provided
in the Priority Lien Documents, or, if no interest is so provided, at such other rate as shall be fixed by applicable law, together
with the costs of collection and the fees of any counsel employed by Collateral Agent to collect such deficiency in accordance
with Section 12.03(a) of the Credit Agreement.

 

6.5           Non-Judicial
Remedies. In granting to Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial
hearing, each Debtor expressly waives, renounces and knowingly relinquishes any legal right which might otherwise require Collateral
Agent to enforce its rights by judicial process. In so providing for non-judicial remedies, each Debtor recognizes and concedes
that such remedies are consistent with the usage of trade, are responsive to commercial necessity, and are the result of a bargain
at arm’s length. Nothing herein is intended, however, to prevent Collateral Agent from resorting to judicial process at its
option.

 

6.6           Cumulative
Rights; Obligations Not Affected. 

 

6.6.1        All
rights of Collateral Agent and each other Priority Lien Secured Party under the Collateral Agency Agreement, the Security Instruments
and the Priority Lien Documents are cumulative of each other and of every other right which Collateral Agent and each other Priority
Lien Secured Party may otherwise have at law or in equity or under any other agreement. The exercise of one or more rights shall
not prejudice or impair the concurrent or subsequent exercise of other rights. Any exercise by Collateral Agent of any of its rights
hereunder shall be subject to the Collateral Agency Agreement.

 

6.6.2        To
the fullest extent not prohibited by applicable law, the obligations of each Debtor under this Security Agreement shall remain
in full force and effect without regard to, and shall not be impaired or affected by:

 

(a)          any
amendment, addition, or supplement to, or restatement of any Priority Lien Document or any instrument delivered in connection therewith
or any assignment or transfer thereof;

 

(b)          any
exercise, non-exercise, or waiver by Collateral Agent or any other Priority Lien Secured Party of any right, remedy, power, or
privilege under or in respect of, or any release of any guaranty, any collateral, or the Collateral or any part thereof provided
pursuant to this Security Agreement, any other Security Instrument or any Priority Lien Document;

 

(c)          any
waiver, consent, extension, indulgence, or other action or inaction in respect of this Security Agreement, any other Security Instrument
or any Priority Lien Document or any assignment or transfer of any thereof; or

 

(d)          any
other event which may give Debtor or any other Loan Party a defense to, or a discharge of, any of its obligations under any Priority
Lien Document.

 

    	 	PAGE 17	 

     

    

 

6.7           Limitation
on Duty of Collateral Agent in Respect of Collateral. Beyond the exercise of reasonable care in the custody thereof, 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 as to the preservation of rights against prior parties or any other rights pertaining thereto. 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 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 Collateral Agent in good faith.

 

Article
VII

PROCEEDS; COLLECTION OF RECEIVABLE

 

7.1           Lockboxes.
Upon request of Collateral Agent, each Debtor shall execute and deliver to Collateral Agent irrevocable lockbox agreements in the
form provided by or otherwise acceptable to Collateral Agent, which agreements shall be accompanied by a control agreement executed
by the bank where the lockbox is located granting Control to the Collateral Agent and providing the Collateral Agent the right
to deliver irrevocable instructions to wire all amounts collected therein to a special collateral account subject to an Account
Control Agreement (such account, a “Controlled Account”).

 

7.2           Collection
of Receivables. Upon the occurrence and during the continuation of a Priority Lien Debt Default, Collateral Agent may at any
time in its sole discretion, by giving any Debtor written notice, elect to require that the Receivables be paid directly to a Controlled
Account. In such event, such Debtor shall, and shall permit Collateral Agent to, promptly notify the Account Debtors or obligors
under the Receivables of Collateral Agent’s interest therein and direct such Account Debtors or obligors to make payment
of all amounts then or thereafter due under the Receivables directly to the applicable Controlled Account. Upon receipt of any
such notice from Collateral Agent, such Debtor shall thereafter hold in trust for Collateral Agent, all amounts and proceeds received
by it with respect to the Receivables and other Collateral and immediately and at all times thereafter deliver to the applicable
Controlled Account all such amounts and proceeds in the same form as so received, whether by cash, check, draft or otherwise, with
any necessary endorsements. Collateral Agent shall hold and apply funds received as provided by the terms of Sections 7.3
and 7.4.

 

7.3           Special
Collateral Account. Collateral Agent may require all cash proceeds of the Collateral to be deposited in a special non-interest
bearing cash collateral account subject to an Account Control Agreement and held there as security for the Secured Obligations.
No Debtor shall have control whatsoever over said cash collateral account. If no Priority Lien Debt Default has occurred or is
continuing, Collateral Agent shall from time to time deposit the collected balances in said cash collateral account into such Debtor’s
general operating account or another account designated by the applicable Debtor. If any Priority Lien Debt Default has occurred
and is continuing, Collateral Agent may, from time to time, apply the collected balances in said cash collateral account to the
payment of the Secured Obligations whether or not the Secured Obligations shall then be due.

 

7.4           Application
of Proceeds. After the occurrence and during the continuation of a Priority Lien Debt Default, the proceeds of the Collateral
shall be applied by Collateral Agent to payment of the Secured Obligations as provided in the Collateral Agency Agreement.

 

    	 	PAGE 18	 

     

    

 

Article
VIII

 

GENERAL PROVISIONS

 

8.1           Additional
Debtors. From time to time subsequent to the date hereof, additional Persons may become parties hereto as additional Debtors
(each, an “Additional Debtor”), by executing a Joinder Agreement in the form of Exhibit
A hereto. Upon delivery of any such Joinder Agreement to Collateral Agent, notice of which is hereby waived by Debtors, each
Additional Debtor shall be a Debtor and shall be as fully a party hereto as if Additional Debtor were an original signatory hereto.
Each Debtor expressly agrees that its obligations arising hereunder shall not be affected or diminished by the addition or release
of any other Debtor hereunder, nor by any election of Collateral Agent not to cause any Subsidiary or Affiliate of Borrower to
become an Additional Debtor hereunder. This Security Agreement shall be fully effective as to any Debtor that is or becomes a party
hereto regardless of whether any other Person becomes or fails to become or ceases to be a Debtor hereunder.

 

8.2           Preservation
of Rights. No delay or omission of Collateral Agent to exercise any right or remedy granted under this Security Agreement shall
impair such right or remedy or be construed to be a waiver of any Priority Lien Debt Default, or an acquiescence therein, and any
single or partial exercise of any such right or remedy shall not preclude any other or further exercise thereof or the exercise
of any other right or remedy. All rights and remedies contained in this Security Agreement or by law afforded shall be cumulative
and all shall be available to Collateral Agent until the Secured Obligations have been paid in full.

 

8.3           Waiver;
Amendment. No waiver, amendment or other variation of the terms, conditions or provisions of this Security Agreement whatsoever
shall be valid unless in writing signed by Collateral Agent and then only to the extent in such writing specifically set forth.

 

8.4           Compromises
and Collection of Collateral. Each Debtor and Collateral Agent recognize that setoffs, counterclaims, defenses and other claims
may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible
in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that
reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Debtor agrees that Collateral
Agent may at any time and from time to time, if a Priority Lien Debt Default has occurred and is continuing, compromise with the
obligor on any Receivable, accept in full payment of any Receivable such amount as Collateral Agent in its sole discretion shall
determine or abandon any Receivable, and any such action by Collateral Agent shall be commercially reasonable so long as Collateral
Agent acts in good faith based on information known to it at the time it takes any such action.

 

8.5           Collateral
Agent Performance of Debtor’s Obligations. Without having any obligation to do so, Collateral Agent may perform or pay
any obligation which any Debtor has agreed to perform or pay in this Security Agreement and such Debtor shall, reimburse Collateral
Agent for any amounts paid by Collateral Agent pursuant to this Section 8.5. Each Debtor’s obligation to reimburse
Collateral Agent pursuant to the preceding sentence shall be a Secured Obligation payable on demand.

 

8.6           Authorization
for Collateral Agent to Take Certain Action. Each Debtor irrevocably authorizes Collateral Agent at any time and from time
to time in the sole discretion of Collateral Agent and appoints Collateral Agent as its attorney in fact (i) to execute on
behalf of such Debtor as debtor and to file financing statements necessary or desirable in Collateral Agent’s sole discretion
to perfect and to maintain the perfection and priority of Collateral Agent’s security interest in the Collateral, (ii) to
endorse and collect any cash proceeds of the Collateral, (iii) to file a carbon, photographic or other reproduction of this
Security Agreement or any financing statement with respect to the Collateral as a financing statement in such offices as Collateral
Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of Collateral
Agent’s security interest in the Collateral, (iv) to contact and enter into one or more agreements with the issuers
of uncertificated securities which are Collateral and which are Securities or with financial intermediaries holding other Investment
Property as may be necessary or advisable to give Collateral Agent Control over such Securities or other Investment Property, (v) subject
to the terms of Section 7.2, to enforce payment of the Receivables in the name of Collateral Agent or such Debtor, (vi) to
apply the proceeds of any Collateral received by Collateral Agent to the Secured Obligations as provided in Article VII
and (vii) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are
specifically permitted under the Credit Agreement), and such Debtor agrees to reimburse Collateral Agent on demand for any payment
made or any expense incurred by Collateral Agent in connection therewith, provided that this authorization shall not relieve such
Debtor of any of its obligations under this Security Agreement or under any Priority Lien Document.

 

    	 	PAGE 19	 

     

    

 

8.7          Use
and Possession of Certain Premises. If a Priority Lien Debt Default has occurred and is continuing, Collateral Agent shall
be entitled to occupy and use any premises owned or leased by any Debtor where any of the Collateral or any records relating to
the Collateral are located until the Secured Obligations are paid or the Collateral is removed therefrom, whichever first occurs,
without any obligation to pay such Debtor for such use and occupancy.

 

8.8          Dispositions
Not Authorized. No Debtor is authorized to sell or otherwise dispose of the Collateral except as permitted by the Priority
Lien Documents and notwithstanding any course of dealing between any Debtor and Collateral Agent or other conduct of Collateral
Agent, no authorization to sell or otherwise dispose of the Collateral (except as permitted by the Priority Lien Documents) shall
be binding upon Collateral Agent unless such authorization is in writing signed by Collateral Agent.

 

8.9          Benefit
of Agreement. The terms and provisions of this Security Agreement shall be binding upon and inure to the benefit of each Debtor,
Collateral Agent and their respective successors and assigns, except that no Debtor shall have the right to assign its rights or
delegate its obligations under this Security Agreement or any interest herein, without the prior written consent of Collateral
Agent.

 

8.10         Survival
of Representations. All representations and warranties of each Debtor contained in this Security Agreement shall survive the
execution and delivery of this Security Agreement.

 

8.11         Expenses;
INDEMNITY. The provisions of Sections 7.8 and 7.9 of the Collateral Agency Agreement are incorporated herein, mutatis mutandis,
for all purposes.

 

8.12         Headings.
The title of and section headings in this Security Agreement are for convenience of reference only, and shall not govern the interpretation
of any of the terms and provisions of this Security Agreement.

 

8.13         Termination.
This Security Agreement shall continue in effect (notwithstanding the fact that from time to time there may be no Secured Obligations
outstanding) until the Discharge of Priority Lien Obligations.

 

8.14         Entire
Agreement. This Security Agreement embodies the entire agreement and understanding between Debtors and Collateral Agent relating
to the Collateral and supersedes all prior agreements and understandings between Debtors and Collateral Agent relating to the Collateral.

 

8.15        Governing
Law; Consent to Jurisdiction; Waiver of Jury Trial. The provisions of Section 7.13 of the Collateral Agency Agreement entitled
“Governing Law; Submission to Jurisdiction; Waiver of Venue; Waiver of Jury Trial” are incorporated herein, mutatis
mutandis, for all purposes.

 

8.16         Notices.
Any notice required or permitted to be given under this Security Agreement shall be sent (and deemed received) in the manner and
to the addresses set forth in Section 7.6 of the Collateral Agency Agreement.

 

    	 	PAGE 20	 

     

    

 

8.17         Amendment
and Restatement. 

 

8.17.1         On
the Effective Date, the Amended and Restated Pledge and Security Agreement, dated as of August 1, 2017, among Borrower, Parent
and certain subsidiaries of Parent as Debtors thereunder and the Administrative Agent (as in effect immediately before the effectiveness
hereof, the “Existing Agreement”) shall be amended and restated in its entirety by this Security Agreement,
and the Existing Agreement shall thereafter be of no further force and effect, except that Debtors, the Collateral Agent and the
Priority Lien Secured Parties agree that (i) Liens created under the Existing Agreement shall continue to exist under and be evidenced
by this Security Agreement and (ii) the Existing Agreement shall continue to evidence the representations and warranties made by
Debtors prior to the Effective Date. This Security Agreement is not in any way intended to constitute a novation of the obligations
and liabilities existing under the Existing Agreement.

 

8.17.2         The
terms and conditions of this Security Agreement and the Collateral Agent’s and the Priority Lien Secured Parties’ rights
and remedies under this Security Agreement and the other Priority Lien Documents shall apply to all of the Obligations incurred
under the Existing Credit Agreement as amended and restated by the Credit Agreement and the Letters of Credit issued thereunder.

 

8.17.3         On
and after the Effective Date, (i) all references to the Existing Agreement (or to any amendment or any amendment and restatement
thereof) in the Priority Lien Documents (other than this Security Agreement) shall be deemed to refer to the Existing Agreement,
as amended and restated hereby, (ii) all references to any section (or subsection) of the Existing Agreement or in any Priority
Lien Document (but not herein) shall be amended to become, mutatis mutandis, references to the corresponding provisions
of this Security Agreement and (iii) except as the context otherwise provides, on or after the Effective Date, all references
to this Security Agreement herein (including for purposes of indemnification and reimbursement of fees) shall be deemed to be references
to the Existing Agreement, as amended and restated hereby. 

 

8.17.4         This
amendment and restatement is limited as written and is not a consent to any other amendment, restatement or waiver, whether or
not similar and, except as expressly provided herein or in any other Priority Lien Document, all terms and conditions of the Priority
Lien Documents remain in full force and effect unless specifically amended hereby or by any other Priority Lien Document.

 

8.18         Collateral
Agency Agreement. Reference is made to the Collateral Agency Agreement, dated as of the date hereof, among Parent, Borrower,
the subsidiaries of Borrower from time to time party thereto, the Collateral Agent, the Administrative Agent, the Term Administrative
Agent and the other agents and parties party thereto from time to time (the “Collateral Agency Agreement”).
Each Person that is secured hereunder, by accepting the benefits of the security provided hereby, (i) agrees (or is deemed to agree)
that it will be bound by, and will take no actions contrary to, the provisions of the Collateral Agency Agreement, (ii) authorizes
(or is deemed to authorize) the Collateral Agent on behalf of such Person to enter into, and perform the obligations of the Collateral
Agent under, the Collateral Agency Agreement and (iii) acknowledges (or is deemed to acknowledge) that a copy of the Collateral
Agency Agreement was delivered, or made available, to such Person. 

 

Notwithstanding any
other provision contained herein, this Agreement, the liens created hereby and the rights, remedies, duties and obligations provided
for herein are subject in all respects to the provisions of the Collateral Agency Agreement and, to the extent provided therein,
the applicable Security Instruments (as defined in the Collateral Agency Agreement). In the event of any conflict or inconsistency
between the provisions of this Agreement and the Collateral Agency Agreement, the provisions of the Collateral Agency Agreement
shall control.

 

It is understood that
any reference to the Collateral Agent taking any action, making any determinations, requests, directions, consents or elections,
deeming any action or document reasonable, appropriate or satisfactory, exercising discretion, or exercising any rights or duties
under this Security Agreement shall be pursuant to written direction from the Controlling Priority Lien Representative.

 

[Remainder of page intentionally
left blank; signature pages follow]

 

    	 	PAGE 21	 

     

    

 

IN WITNESS WHEREOF,
Debtors and Collateral Agent have executed this Security Agreement as of the date first above written.

 

	 	GRIZZLY NATURAL GAS, LLC
	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:   	Chief Financial Officer
	 	 
	 	GRIZZLY ENERGY, LLC
	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:   	Chief Financial Officer
	 	 
	 	GRIZZLY HOLDINGS, LLC
	 	By: 	Grizzly Natural Gas, LLC
	 	 	its Sole Member
	 	 
	 	By:	/s/ Ryan Midgett
	 	 	Name: Ryan Midgett
	 		Title:   Chief Financial Officer
	 	 
	 	GRIZZLY OPERATING, LLC
	 	By: 	Grizzly Natural Gas, LLC
	 	 	its Sole Member
	 	 
	 	By:	/s/ Ryan Midgett
	 	 	Name: Ryan Midgett
	 		Title:   Chief Financial Officer
	 	 
	 	GRIZZLY ACQUISITION PARTNERSHIP, LLC
	 	By:	GRIZZLY UPSTREAM DEVELOPMENT COMPANY, LLC,
	 	 	its general partner
	 	 
	 	By:	/s/ Ryan Midgett
	 	 	Name: Ryan Midgett
	 		Title:   Chief Financial Officer

 

[Signature
Page to 2nd Amended and Restated Security Agreement]

 

     

     

    

 

	 	GRIZZLY ACQUISITION PARTNERSHIP II, LLC
	 	By:	GRIZZLY UPSTREAM DEVELOPMENT COMPANY II, LLC,
	 	 	its general partner
	 	 
	 	By:	/s/ Ryan Midgett
	 	 	Name: Ryan Midgett
	 		Title:   Chief Financial Officer
	 	 
	 	GRIZZLY ENERGY ACQUISITION CO., LLC
	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:   	Chief Financial Officer
	 	 
	 	GRIZZLY ENERGY ACQUISITION CO. II, LLC
	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:   	Chief Financial Officer
	 	 
	 	GRIZZLY UPSTREAM DEVELOPMENT COMPANY, LLC
	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:   	Chief Financial Officer
	 	 
	 	GRIZZLY UPSTREAM DEVELOPMENT COMPANY II, LLC
	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:   	Chief Financial Officer
	 	 
	 	ESCAMBIA ASSET CO. LLC
	 	 
	 	By:	/s/ Ryan Midgett
	 	Name: 	Ryan Midgett
	 	Title:   	Chief Financial Officer

 

[Signature
Page to 2nd Amended and Restated Security Agreement]

 

     

     

    

  

	 	ESCAMBIA OPERATING CO.
    LLC
	 	 	 
	 	By:	/s/ Ryan Midgett
	 	Name:	 Ryan Midgett
	 	Title:   	Chief Financial Officer

 

[Signature
Page To 2Nd Amended And Restated Security Agreement]

 

     

     

    

 

	COLLATERAL AGENT:	 
	 	 
	CITIBANK, N.A.,	 
	as Collateral Agent	 

 

	By:	 /s/ Phil Ballard	 
	Name:	Phil Ballard	 
	Title: 	Vice President	 

 

[Signature
Page To 2Nd Amended And Restated Security Agreement]

  

     

     

    

 

EXHIBIT A

 

Form of Joinder Agreement

JOINDER AGREEMENT

 

THIS JOINDER AGREEMENT
(this “Agreement”) is entered into as of ____________, 20[●] by the undersigned (“Additional
Debtor”), being a Subsidiary or Affiliate of Grizzly Natural Gas, LLC (“Borrower”), in
favor of Citibank, N.A., as Collateral Agent under the Security Agreement described below (in such capacity, “Collateral
Agent”).

 

WHEREAS, Grizzly Energy,
LLC., a Delaware limited liability company (“Parent”), Borrower and certain Subsidiaries and Affiliates
of Borrower entered into that certain Second Amended and Restated Pledge and Security Agreement dated as of July 16, 2019, in favor
of Collateral Agent (as same may be amended, restated or modified from time to time, this “Security Agreement”)
in order to, among other things, induce the Lenders to enter into and extend credit to Borrower under the Priority Lien Documents;
and

 

WHEREAS, Additional
Debtor is a Subsidiary or Affiliate of Borrower, and Additional Debtor desires that the Priority Lien Secured Parties extend credit
to Borrower as contemplated by the Priority Lien Documents, and Additional Debtor will directly or indirectly benefit from the
use of the loan proceeds by Borrower for the purposes for which the credit is being extended pursuant to the Priority Lien Documents;
and

 

WHEREAS, Additional
Debtor, by and through the action of its governing body, has determined that it may reasonably be expected to benefit, directly
or indirectly, from granting a lien upon the Collateral described in the Security Agreement to secure Borrower’s indebtedness
and the other obligations under the Priority Lien Documents as provided therein.

 

NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged
and to extend such additional credit as the Lenders may from time to time agree to extend, Additional Debtor does hereby agree
with Collateral Agent as follows:

 

1.          Definitions.
All capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Security Agreement.

 

2.          Party
to Security Agreement; Grant of Security Interest. Additional Debtor hereby acknowledges, agrees and confirms that, by its
execution of this Agreement, Additional Debtor will be deemed to be a party to the Security Agreement and a “Debtor”
for all purposes of the Security Agreement, and shall have all of the obligations of a Debtor thereunder as if it had executed
the Security Agreement. Additional Debtor hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms,
provisions and conditions applicable to Debtors contained in the Security Agreement. Without limiting the generality of the foregoing
terms of this Section 2, Additional Debtor hereby pledges, assign and grants to Collateral Agent for the benefit of the
Priority Lien Secured Parties a continuing security interest in all of Additional Debtor’s right, title and interest in,
to and under the Collateral of Additional Debtor to secure the prompt and complete payment and performance in full of the Secured
Obligations. If the security interest granted hereby in any rights of Additional Debtor under any contract included in the Collateral
is expressly prohibited by such contract, then the security interest hereby granted therein nonetheless mains effective to the
extent allowed by Article or Chapter 9 of the UCC or other applicable law but is otherwise limited by that prohibition.

 

     

     

    

 

3.          Representations
and Warranties. Additional Debtor hereby makes each representation and warranty set forth in the Security Agreement with respect
to itself and its Collateral.

 

4.          Address
for Notice Purposes. The address of Additional Debtor for purposes of all notices and other communications is set forth on
the signature page hereof.

 

5.          Information
for Schedules. 

 

(a)          Additional
Debtor’s information for purposes of Schedule 1 to the Security Agreement is set forth on Schedule 1 attached hereto.

 

(b)          Additional
Debtor’s information for purposes of Schedule 2 to the Security Agreement is set forth on Schedule 2 attached hereto.

 

(c)          Additional
Debtor’s information for purposes of Schedule 3 to the Security Agreement is set forth on Schedule 3 attached hereto.

 

(d)          Additional
Debtor’s information for purposes of Schedule 4 to the Security Agreement is set forth on Schedule 4 attached hereto.

 

(e)          Additional
Debtor’s information for purposes of Schedule 5 to the Security Agreement is set forth on Schedule 5 attached hereto.

 

6.            Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken
together shall constitute one contract.

 

7.            Loan
Document. This Agreement is a Priority Lien Document for all purposes and each reference in any Priority Lien Document to the
“Security Agreement” shall mean the Security Agreement as supplemented by this Agreement.

 

8.            Section
8.15 of the Security Agreement is hereby incorporated herein, mutatis mutandis, for all purposes.

 

     

     

    

 

IN WITNESS WHEREOF, the
undersigned Additional Debtor and Collateral Agent have executed this Security Agreement as of the date first above written.

 

	 	ADDITIONAL DEBTOR
	 	 
	 	 

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	Notice Address:

 

     

     

    

 

	 	COLLATERAL AGENT
	 	 
	 	CITIBANK, N.A.,
	 	as Collateral Agent

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

     

     

    

 

EXHIBIT B

 

[FORM OF]

INTELLECTUAL PROPERTY SECURITY AGREEMENT

 

THIS INTELLECTUAL PROPERTY
SECURITY AGREEMENT (this “Agreement”) is entered into as of ____________, 201__, by the undersigned (“Grantor”),
being a Subsidiary or Affiliate of Grizzly Natural Gas, LLC (“Borrower”), in favor of Citibank, N.A.,
as Collateral Agent for the Priority Lien Secured Parties (in such capacity, “Collateral Agent”), and
is executed and delivered pursuant to that Second Amended and Restated Pledge and Security Agreement dated as of July 16, 2019,
in favor of Collateral Agent (as same may be amended, restated or modified from time to time, this “Security Agreement”)
in order to, among other things, induce the Priority Lien Secured Parties to enter into and extend credit to Borrower under the
Priority Lien Documents.

 

The parties hereto
agree as follows:

 

SECTION 1. Terms.
Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Security Agreement.

 

SECTION 2. Grant
of Security Interest. As security for the prompt and complete payment or performance, as the case may be, in full of the
Secured Obligations, [each][the] Grantor, pursuant to the Security Agreement, did and hereby does pledge, collaterally
assign, mortgage, transfer and grant to the Collateral Agent, its successors and permitted assigns, on behalf of and for the ratable
benefit of the Priority Lien Secured Parties, a continuing security interest in all of its right, title or interest in, to or under
all of the following assets, whether now owned or at any time hereafter acquired by or arising in favor of [such][the]
Grantor and regardless of where located (collectively, the “IP Collateral”):

 

(A)         all
Trademarks, including the Trademark registrations and registration applications in the United States Patent and Trademark Office
listed on Schedule I hereto but excluding any intent-to-use Trademark application prior to the filing and acceptance
of a “Statement of Use”, “Declaration of Use”, “Amendment to Allege Use” or similar notice
and/or filing with respect thereto, only to the extent, if any, that, and solely during the period if any, in which, the grant
of such security interest may impair the validity or enforceability, or result in the voiding, of such intent-to-use Trademark
application or any registration issuing therefrom under applicable Requirements of Law;

 

(B)         all
Patents, including the Patent registrations and pending applications in the United States Patent and Trademark Office listed on
Schedule II hereto

 

(C)         all
Copyrights, including the Copyright registrations and pending applications for registration in the United States Copyright Office
listed on Schedule III; [and]

 

(D)         all
proceeds of the foregoing;

 

in each case to the extent the foregoing
items constitute Collateral.

 

SECTION 3. Security
Agreement. The security interests granted to the Collateral Agent herein are granted in furtherance, and not in limitation
of, the security interests granted to the Collateral Agent pursuant to the Security Agreement. [Each][The] Grantor
hereby acknowledges and affirms that the rights and remedies of the Collateral Agent with respect to the IP Collateral are more
fully set forth in the Security Agreement, the terms and provisions of which are hereby incorporated herein by reference as if
fully set forth herein. In the event of any conflict between the terms of this Agreement and the Security Agreement, the terms
of the Security Agreement shall govern.

 

SECTION 4. Governing
Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.

 

[Signature Pages Follow]

 

     

     

    

 

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

 

	 	[Grantor]

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

     

     

    

 

	 	COLLATERAL AGENT
	 	 
	 	CITIBANK, N.A.,
	 	as Collateral Agent

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

     

     

    

 

SCHEDULE I

 

TRADEMARKS

 

	REGISTERED OWNER	 	REGISTRATION NUMBER	 	TRADEMARK
	 	 	 	 	 
	 	 	 	 	 

 

TRADEMARK APPLICATIONS

 

	APPLICANT	 	APPLICATION NO.	 	TRADEMARK
	 	 	 	 	 
	 	 	 	 	 

 

    	 	Schedule I	 

     

    

 

SCHEDULE II

 

PATENTS

 

	REGISTERED OWNER	 	SERIAL NUMBER	 	DESCRIPTION
	 	 	 	 	 
	 	 	 	 	 

 

PATENT APPLICATIONS

 

	APPLICANT	 	APPLICATION NO.	 	DESCRIPTION
	 	 	 	 	 
	 	 	 	 	 

 

    	 	Schedule II	 

     

    

 

SCHEDULE III

 

COPYRIGHTS

 

	REGISTERED OWNER 	 	REGISTRATION NUMBER	 	TITLE
	 	 	 	 	 
	 	 	 	 	 

 

COPYRIGHT APPLICATIONS

 

	APPLICANT 	 	APPLICATION NUMBER	 	TITLE
	 	 	 	 	 
	 	 	 	 	 

 

    	 	Schedule III	 

     

    

 

Schedule 1

 

Deposit Accounts, Commodities
Accounts and Securities Accounts

 

	Account Name	 	Entity	 	Account Description	 	Last 4 Digits

Account

Number	 	Bank
	Vanguard Operating, LLC	 	Grizzly Operating, LLC	 	Parent/Primary Operating Account, bank service fees, lockbox	 	4917	 	Capital One
	Vanguard Natural Gas, LLC	 	Grizzly Natural Gas, LLC	 	Credit Facility, Hedges and G&A expenses, sweeps to VO, ending daily balance of $250k	 	1814	 	Capital One
	Vanguard Natural Gas, LLC	 	Grizzly Natural Gas, LLC	 	Fund Check Outsourcing Fees	 	1301	 	Wells Fargo
	Vanguard Natural Resources, Inc	 	Grizzly Energy, LLC	 	Parent Company Account - no activity	 	5603	 	Capital One
	Vanguard Operating	 	Grizzly Operating, LLC	 	Depository Account for Wyoming oil royalties	 	7000	 	US Bank
	Vanguard Operating, LLC - Utilities	 	Grizzly Operating, LLC	 	Adequate assurance for utilities 	 	1271	 	Capital One
	Vanguard Natural Resources, Inc	 	Grizzly Energy, LLC	 	Restricted Account – Cure Payments Account 	 	1360	 	Capital One
	Vanguard Natural Resources, Inc	 	Grizzly Energy, LLC	 	Restricted Account – General Unsecured Creditor Account	 	1352	 	Capital One
	Vanguard Natural Resources, Inc	 	Grizzly Energy, LLC	 	Escrow Account – Professional Fees	 	2464	 	Citibank

 

    	 	36	 

     

    

 

Schedule 2

 

Copyrights, Patents, Trademarks

 

None.

 

    	 	37	 

     

    

 

Schedule 3

Investment Property, Pledged Equity

 

	Grantor	 	Name of Issuer	 	Description of

Collateral	 	Certificate

Number	 	Number

of

Shares	 	Percentage of

Outstanding

Equity Interests

Owned by Debtor
	Grizzly Energy, LLC	 	Grizzly Natural Gas, LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Natural Gas, LLC	 	Grizzly Operating, LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Natural Gas, LLC	 	Grizzly Energy Holdings, LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Operating, LLC	 	Escambia Asset Co. LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Operating, LLC	 	Escambia Operating Co. LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Operating, LLC	 	Grizzly Energy Acquisition Co., LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Operating, LLC	 	Grizzly Energy Acquisition Co. II, LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Energy Acquisition Co., LLC	 	Grizzly Upstream Development Company, LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Energy Acquisition Co. II, LLC	 	Grizzly Upstream Development Company II, LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Upstream Development Company, LLC	 	Grizzly Acquisition Partnership, LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%
	Grizzly Upstream Development Company II, LLC	 	Grizzly Acquisition Partnership II, LLC	 	Limited liability company interest	 	N/A	 	N/A	 	100%

 

    	 	38	 

     

    

 

Schedule 4

Principal Location

 

5847 San Felipe, Suite
3000

Houston, Texas 77057-3399

 

    	 	39	 

     

    

 

Schedule 5

Identification Information

 

	Name	 	Jurisdiction	 	Federal EIN	 	Organizational ID
	Grizzly Natural Gas, LLC	 	Kentucky	 	20-1951004	 	0601349
	Grizzly Energy, LLC	 	Delaware	 	80-0411494	 	4686581
	Grizzly Operating, LLC	 	Delaware	 	30-0839331	 	5407161
	Grizzly Energy Holdings, LLC	 	Delaware	 	38-3756371	 	4328433
	Escambia Asset Co. LLC	 	Delaware	 	20-4942000	 	4154040
	Escambia Operating Co. LLC	 	Delaware	 	20-4943869	 	4164275
	Grizzly Energy Acquisition Co., LLC	 	Delaware	 	26-0604564	 	4393164
	Grizzly Energy Acquisition Co. II, LLC	 	Delaware	 	26-2463364	 	4537128
	Grizzly Upstream Development Company, LLC	 	Delaware	 	20-1560113	 	3779972
	Grizzly Upstream Development Company II, LLC	 	Delaware	 	20-1477453	 	3843535
	Grizzly Acquisition Partnership, LLC	 	Delaware	 	26-1206706	 	4404235
	Grizzly Acquisition Partnership II, LLC	 	Delaware	 	26-2830903	 	4541467

  

    	 	40

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}]]