Document:

Exhibit 10.2

 Exhibit 10.2 
 Execution Copy 
  

 
  

INVESTMENT NUMBER 24052 
 Certificate of Deposit Retention and 
 Pledge Agreement 

between 

BEIJING UNITED FAMILY HEALTH CENTER 
 CHINA MERCHANTS BANK CO., LTD., BEIJING CHAOYANGMEN SUB-BRANCH 
 and

 INTERNATIONAL FINANCE CORPORATION 
 Dated March 14, 2012 
  

 
  

 THIS CERTIFICATE OF DEPOSIT RETENTION AND PLEDGE AGREEMENT (the “Agreement”) dated
March 14, 2012 
 BY AND AMONG: 
  

	(1)	BEIJING UNITED FAMILY HEALTH CENTER, a Sino-foreign joint venture company organized and existing under the laws of the PRC (“BUFH” or
“Borrower 1”); 

  

	(2)	CHINA MERCHANTS BANK CO., LTD., BEIJING CHAOYANGMEN SUB-BRANCH, a sub-branch of a financial institution duly organized and validly existing under the laws of
China (the “Bank”); and 

  

	(3)	INTERNATIONAL FINANCE CORPORATION (“IFC”), an international organization established by Articles of Agreement among its member countries.

 WHEREAS 
 (A) By a RMB loan agreement dated October 10, 2005 among Borrower 1, Shanghai United Family Hospital, Inc., (“Borrower 2”, together with Borrower 1, the
“Borrowers”) and IFC (as supplemented and amended from time to time, the “Original Loan Agreement”), IFC has agreed to lend to the Borrowers and the Borrowers have agreed to borrow on a joint and several basis from
IFC, the sum of sixty-four million eight hundred and eighty thousand Renminbi (RMB64,880,000). 
 (B) By an Amendment and
Restatement Agreement to RMB Loan Agreement dated as of November 30, 2011 among the Borrowers, IFC and Chindex International Inc. (the “Restatement Agreement”), the Original Loan Agreement is amended and restated per Schedule 2
thereto. Such amendment and restatement to the Original Loan Agreement shall be referred to as the “Loan Agreement” hereinafter. 
 (C) It is a condition precedent for the Loan Agreement to come into effect that Borrower 1, the Bank and IFC enter into this Agreement. 

  
 1 

 IFC, Borrower 1 and the Bank wish to enter into this Agreement and therefore agree as
follows: 
 ARTICLE 1 
 DEFINITIONS AND INTERPRETATION 
 Unless otherwise defined, or the context otherwise
requires, terms defined in the Loan Agreement have the same meanings when used in this Agreement and the following terms have the following meanings: 
 “Business Day” means a day, other than a Saturday or Sunday, on which commercial banks are open for business in China; 
 “Cash Collateral Account” has the meaning assigned to it in Section 2.01;  
 “Current Account” has the meaning assigned to it in Section 2.01;  

“BUFH Accounts” has the meaning assigned to it in Section 2.01; 
 “CD” means, in relation to a particular Fixed Deposit, the relevant certificate of deposit issued by the Bank to BUFH
(人民币单位定期存单 in Chinese) in replacement of its respective Time Deposit Account Opening Certificate (定期存款开户证实书 in Chinese)
issued with respect to each Cash Collateral Account (as defined in Section 2.01); 
 “Deposit Date” means the date on
which BUFH makes a deposit under Section 3.01(a); 
 “Fixed Deposit” means the fixed deposit made by BUFH in each Cash
Collateral Account pursuant to Section 3.01 (b), including any renewal thereof; 
 “Fixed Deposit Pledge” means a Fixed
Deposit Certificate Pledge Agreement, substantially in the form of Schedule 1, entered into by BUFH and IFC in accordance with Article 3 (Deposits and Pledge Provisions) over the Fixed Deposit, by which BUFH pledges all of its rights,
title and interest in the CD to IFC; 
 “IFC Account” means IFC’s RMB bank account with the Bank, or such other bank
account as IFC shall notify the parties from time to time; 
 “Interest Payment Date” has the meaning assigned to it in the
Loan Agreement; 
 “PRC” or “China” means People’s Republic of China (solely for the purpose of this
Agreement, excluding Hong Kong SAR, Macau SAR and Taiwan). 
 “Repayment Date” has the meaning assigned to it in the Loan
Agreement; and  
 “Renminbi” or “RMB” means the lawful currency of China. 

“Time Deposit Account Opening Certificate” means a certificate issued by the Bank with respect to each account that is opened at the
Bank. 

  
 2 

 ARTICLE 2 
 BUFH ACCOUNTS 
 Section 2.01. Establishment and Maintenance of the BUFH Accounts

 Within five (5) Business Days after the execution of this Agreement, BUFH shall establish and maintain with the Bank a current
account denominated in RMB in the name of Beijing United Family Health Center (the “Current Account”) and four (4) fixed deposit accounts (each a “Cash Collateral Account”, and together with the Current
Account, the “BUFH Accounts”). 
 Section 2.02. Further Action by BUFH 

BUFH shall forthwith from time to time upon written request, deliver to the Bank any such resolutions, mandates, authorities, documents, specimen
signatures and other matters as the Bank may require to enable the BUFH Accounts to be maintained and operated in accordance with this Agreement. 
 ARTICLE 3 
 DEPOSITS AND PLEDGE PROVISIONS 

Section 3.01. Fixed Deposits 
  

	(a)	Fixed Deposit in the BUFH Accounts 

 Within five
(5) Business Days after the establishment of the Current Account, BUFH shall deposit RMB 75,857,696.00 in the Current Account, and at the same time, duly give irrevocable instructions to the Bank to transfer and deposit immediately the cash
standing to the credit of the Current Account to each Cash Collateral Account in the amounts and to the accounts set forth below. 
  

					
	 Cash Collateral Account
	  	Deposit Amount
(RMB)	 
		
	 Cash Collateral Account 1
	  	 	2,744,424.00	  
		
	 Cash Collateral Account 2
	  	 	2,744,424.00	  
		
	 Cash Collateral Account 3
	  	 	2,744,424.00	  
		
	 Cash Collateral Account 4
	  	 	67,624,424.00	  

  
 3 

	(b)	Certificate of Deposit 

 On each Deposit Date,
BUFH shall on behalf of IFC as the pledgee submit the relevant Time Deposit Account Opening Certificate to the Bank with respect to the deposit in each Cash Collateral Account and obtain a CD in accordance with the requirements below in return for
pledging the same in favour of IFC hereunder. 
  

					
	 Amount in the CD

(RMB)
	  	 Term of the CD
	  	 Secured Payment

	CD 1
 2,744,424.00
	  	 1 year
	  	An amount equal to interest and fees that are required to be paid under the Loan Agreement by the Borrowers to IFC on the Interest Payment Date in 2012
	CD 2
 2,744,424.00
	  	 2 years
	  	An amount equal to interest and fees that are required to be paid by the Borrowers under the Loan Agreement to IFC on the Interest Payment Date in 2013
	CD 3
2,744,424.00	  	 3 years
	  	An amount equal to interest and fees that are required to be paid by the Borrowers under the Loan Agreement to IFC on the Interest Payment Date in 2014
	CD 4
 67,624,424.00
	  	 initial term of 3 years;
first renewal for a
term of 6
months;
 second renewal for a
term of 3 months
	  	An amount equal to principal, interest and fees that are required to be paid by the Borrowers under the Loan Agreement to IFC on the Repayment Date in 2015

  
 4 

 On the maturity date for the initial 3 year term for CD 4, BUFH shall immediately renew such CD for a 6
month term. On the maturity date for the 6 month term for CD 4, BUFH shall immediately renew such CD for a 3 month term. BUFH hereby authorizes the Bank to, and the Bank shall perform, all necessary procedures for the two (2) renewals of CD 4
to ensure that CD 4 shall be effectively renewed in accordance with applicable Chinese laws and internal rules of the Bank from each date of expiration of the expiring CD. 
 Section 3.02. Fixed Deposit Pledge 
 (a) With respect to each Fixed Deposit, BUFH shall, on
each Deposit Date, enter into a Fixed Deposit Pledge to pledge the CD in favour of IFC; 
 (b) The Bank shall, pursuant to applicable laws and
its relevant internal rules, issue a CD in accordance with Section 3.01 (b), complete the verification (he ya 核押) process with respect to the CD to be pledged in favor of IFC, provide to IFC a Fixed Deposit Certificate
Confirmation Letter (单位定期存单确认书 in Chinese) to the satisfaction of IFC, and deliver the CD to IFC. 
 ARTICLE 4 
 ACCOUNT PROVISIONS 

Section 4.01. Communication with IFC 

BUFH hereby irrevocably agrees that the Bank shall communicate directly with IFC (with a copy to BUFH) concerning all relevant details of the BUFH
Accounts and provide all information necessary to enable IFC to monitor the activity of the BUFH Accounts and such other information in respect of the BUFH Accounts as may be reasonably requested in writing by IFC. Without the written consent of
IFC, BUFH shall not dispose, and the Bank shall not effect the disposal, of any amount in the BUFH Accounts (other than as expressly permitted by this Agreement) in any manner. 
 Section 4.02. Maintenance of the Accounts 
 BUFH warrants and undertakes to and for the
benefit of IFC that it has complied, or will comply with all formalities required by the Bank in connection with the maintenance of the BUFH Accounts. 
 The Bank agrees that the interest rate applicable to each CD shall be highest applicable rate on its Deposit Date for the relevant period of the Deposit as promulgated by the People’s Bank of China
from time to time. 
 Section 4.03. Transfer of Funds from the Accounts 
 (a) BUFH as the owner and pledgor of each CD and the IFC as the pledgee of each CD hereby agree and authorize that (i) on the maturity date of CD 1, CD 2 and CD 3, the Bank shall, upon receipt of
such CD and written authorization from IFC, transfer the full 

  
 5 

 
principal amount of such CD and all the interest accrued on such CD to an account designated by BUFH, unless otherwise instructed by IFC, and (ii) on the Repayment Date (in respect of CD 4),
the Bank shall, upon receipt of such CD and written authorization from IFC, transfer the full principal amount of such CD to the IFC Account and, at the same time, transfer all the interest accrued on such CD to an account designated by BUFH, unless
otherwise instructed by IFC. 
 (b) Notwithstanding the provision in Section 4.03(a), if at any time prior to the Repayment Date any funds
standing to the credit of the BUFH Accounts is subject to immediate or potential threat of being withdrawn or otherwise restricted by a third party or any Authority, BUFH and/or the Bank shall, after they become aware of the situation, immediately
notify IFC in writing of such threat if such notification is permitted by any applicable PRC laws and regulations, in which case IFC may in its absolute discretion decide whether to transfer the funds in the BUFH Accounts to the IFC Account. If IFC
so decides, BUFH hereby unconditionally authorizes the Bank to follow IFC’s instruction for transfer of the funds provided that such transfer is permitted by any applicable PRC laws and regulations. 

(c) Notwithstanding the provision in Section 4.03(a), if at any time prior to the Repayment Date an Event of Default occurs, IFC may, upon the
service of a default notice in writing to BUFH with a copy of the notice to the Bank and upon the delivery of the relevant CD to the Bank, request the Bank to transfer all the funds standing to the credit of the BUFH Accounts to the IFC Account. If
IFC so requests, BUFH hereby unconditionally authorizes the Bank to follow IFC’s instruction for transfer of the funds. 
 (d) BUFH hereby
expressly and irrevocably authorizes the Bank to make any fund transfer under Section 4.03(a)-(c). In particular, BUFH agrees that the signature(s) it has kept with the Bank for the purpose of depositing funds into the BUFH Accounts and drawing
the funds out of the BUFH Accounts shall not be required for the fund transfer(s) made under the Section 4.03(a)-(c), or if such signatures are required, they are hereby given and provided to the Bank for the purpose of the fund transfer(s)
under this Section 4.03(d). 
 Section 4.04. Change of the Bank 
 BUFH and the Bank acknowledge and agree that if IFC has grounds in its absolute discretion for believing that the maintaining of the BUFH Accounts with the Bank may have any material adverse impact on
IFC’s rights hereunder (including without limitation IFC’s rights in and to any CD), IFC may request BUFH to terminate the BUFH Accounts with the Bank at any time by giving not less than twenty (20) days prior written notice to that
effect. Prior to the termination, BUFH shall establish new account(s) with such bank as IFC instructed and transfer all the cash balance standing to the credit of the BUFH Accounts to the new account(s), provided that the applicable CD issued in
connection with each Cash Collateral Account has been returned to the Bank for the intended transfer. 
 BUFH acknowledges and agrees that it
cannot request a change of the Bank without IFC’s prior consent. 

  
 6 

 BUFH further acknowledges and agrees that all of its obligations hereunder with respect to the BUFH Accounts
shall remain unchanged with respect to any such new account(s). 
 ARTICLE 5 

GOVERNING LAW AND DISPUTE RESOLUTION 
 Section 5.01. Term of Agreement 
 This Agreement shall continue in force until all monies
payable under the Loan Agreement have been fully paid in accordance therewith. 
 Section 5.02. Enforcement 

(a) This Agreement is governed by and shall be construed in accordance with the laws of the PRC. 
 (b) In the event of any dispute in the interpretation or enforcement of this Agreement, IFC shall be entitled to commence a legal action to interpret or enforce the provisions hereof. 

ARTICLE 6 

MISCELLANEOUS 

Section 6.01. Remedies and Waivers 
 No
failure to exercise, nor any delay in exercising, on the part of IFC, any right or remedy under this Agreement shall operate as a waiver, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise of any
other right or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law. 
 Section 6.02. Partial Invalidity 
 If, at any time, any provision of this Agreement is or
becomes illegal, invalid, or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of
any other jurisdiction shall in any way be affected or impaired thereby. 
 Section 6.03. Notices 

Any notice, request or other communication to be given or made under this Agreement shall be in writing and may be delivered by hand, airmail, facsimile
or established courier service to the party’s address specified below or at such other address as such party notifies to the other party from time to time, and will be effective upon receipt. 

  
 7 

					
	For BUFH:
		
		  	BEIJING UNITED FAMILY HEALTH CENTER
		  	No. 9-11 Jiangtai Western Road, Chaoyang District
		  	Beijing 100015, China
			
		  	Facsimile :	  	(8610) 5827-7200
		  	Attention:	  	General Manager
		
		  	With a copy sent to the attention of Vice President, Finance and Health
		  	Care Services Division, Chindex International, Inc. at:
			
		  	Facsimile:	  	(301) 215-7719
	
	For the Bank:
		
		  	CHINA MERCHANTS BANK CO., LTD., BEIJING CHAOYANGMEN
		  	SUB-BRANCH
		  	No. 6 Chaoyangmen North Street, Beijing 100027, China
			
		  	Facsimile :	  	(8610) 8528-2372
		  	Attention:	  	Dong Yan / Luo Ying
	
	For IFC:
		
		  	INTERNATIONAL FINANCE CORPORATION
		  	2121 Pennsylvania Avenue, N.W.
		  	Washington, D.C. 20433
		  	United States of America
			
		  	Facsimile:	  	+1-202-974 4392
		  	Attention:	  	Director, Manufacturing, Agribusiness and Services
		  		  	Department
		
		  	With a copy (in the case of communications relating to payments) sent to the attention of the Senior Manager, Financial Operations Unit, at:
			
		  	Facsimile:	  	+1 (202) 974-4371

 Any notice, request or other communication to be given or made between BUFH and IFC under this Agreement shall be in the
English language; any notice, request or other communication to be given or made between IFC and the Bank under this Agreement shall be in both the English language and the Chinese language. In case of any discrepancy between the two language
versions, the Chinese version shall prevail. 

  
 8 

 Section 6.04. Language 
 This Agreement is made in both Chinese and English, which shall be equally binding. In case of any discrepancy between the two versions, the Chinese version shall prevail. 

Section 6.05. Amendments, Waivers and Consents 
 Any amendment or waiver of, or any consent given under, any provision of this Agreement shall be in writing and, in the case of an amendment, signed by the parties. 

Section 6.06. Benefit and Assignment of Agreement 
 (a) This Agreement shall be binding on and enure to the benefit of each party; and 
 (b) BUFH
shall not be entitled to assign all or any of its rights or transfer any of its obligations under this Agreement. 
 Section 6.07
Counterparts 
 This Agreement may be executed in any number of counterparts, each of which (when executed) shall be deemed an original
version of this Agreement and of equal validity. 
 Section 6.08 Effectiveness 
 This Agreement shall become effective upon its execution by the parties hereto. 

[remainder of this page is intentionally left in blank]  

  
 9 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed in their respective names as
of the date first above written. 
 BEIJING UNITED FAMILY HEALTH CENTER 

			
		
	By:	 	 

		
	Name:	 	 Roberta Lipson

		
	Title:	 	
        
CEO

 CHINA MERCHANTS BANK CO., LTD., BEIJING CHAOYANGMEN SUB-BRANCH

  

			
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

INTERNATIONAL FINANCE CORPORATION 
  

			
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 Signature Page Certificate of Deposit Retention and Pledge Agreement 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed in their respective names as
of the date first above written. 
 BEIJING UNITED FAMILY HEALTH CENTER 

 

			
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

CHINA MERCHANTS BANK CO., LTD., BEIJING CHAOYANGMEN SUB-BRANCH 
  

			
	By:	 	 

		
	Name:	 	 Yaxin Guan

		
	Title:	 	 Branch Manager

INTERNATIONAL FINANCE CORPORATION 
  

			
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 Signature Page Certificate of Deposit Retention and Pledge Agreement 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed in their respective names as
of the date first above written. 
 BEIJING UNITED FAMILY HEALTH CENTER 

			
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

CHINA MERCHANTS BANK CO., LTD., BEIJING CHAOYANGMEN SUB-BRANCH 

			
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

INTERNATIONAL FINANCE CORPORATION 
  

			
	By:	 	 

		
	Name:	 	 Shannon W. Atkeson

		
	Title:	 	 Portfolio Manager, Asia
 Manufacturing, Agribusiness and Services Dept.

 Signature Page Certificate of Deposit Retention and Pledge Agreement 

 SCHEDULE 1 

 
  

 
 INVESTMENT NUMBER 24052

 Fixed Deposit Certificate 
 Pledge Agreement 
 between 

BEIJING UNITED FAMILY HEALTH CENTER 
 and 
 INTERNATIONAL FINANCE CORPORATION 

Dated                     

  
  

 

 FIXED DEPOSIT CERTIFICATE PLEDGE AGREEMENT 

AGREEMENT is made on  

BETWEEN 
  

	(1)	BEIJING UNITED FAMILY HEALTH CENTER (“BUFH”), a Sino-foreign joint venture company organized and existing under the laws of the PRC; and

  

	(2)	INTERNATIONAL FINANCE CORPORATION (“IFC”), an international organization established by Articles of Agreement among its member countries;

 In accordance with the Security Law of the PRC and other relevant laws and regulations of the PRC. 

WHEREAS 

(A) By a RMB Loan Agreement dated October 10, 2005 among BUFH, Shanghai United Family Hospital Inc. (“SUFH”,
together with BUFH, the “Borrowers”) and IFC (as supplemented and amended from time to time, the “Original Loan Agreement”), IFC has agreed to lend to the Borrowers and the Borrowers have agreed to borrow on a joint
and several basis from IFC, the sum of sixty-four million eight hundred and eighty thousand Renminbi (RMB64,880,000). 
 (B) By
an Amendment and Restatement Agreement to RMB Loan Agreement dated November 30, 2011 among the Borrowers, IFC and Chindex International Inc. (the “Restatement Agreement”), the Original Loan Agreement is amended and restated as
Schedule 2 enclosed therein. Such amendment and restatement to the Original Loan Agreement shall be referred to as the “Loan Agreement” hereinafter. 
 (C) To fulfil a condition precedent to the effectiveness of the Restatement Agreement, IFC, BUFH, and China Merchants Bank Co., Ltd., Beijing Chaoyangmen Sub-Branch (the “Bank”) entered
into a Certificate of Deposit Retention and Pledge Agreement (the “Certificate of Deposit Retention and Pledge Agreement”) dated as of March 14, 2012. 
 (D) Article 3 of the Certificate of Deposit Retention and Pledge Agreement requires BUFH to make a fixed term deposit on each Deposit Date and to pledge the certificate of such deposit in favour of IFC to
secure its payment obligations under the Loan Agreement; 

 (E) On [date], BUFH has obtained a fixed term deposit certificate in the amounts of
[                    ] (the “Certificate of Deposit”). 
 NOW, THEREFORE, in consideration of the promises and the mutual covenants described hereafter, BUFH and IFC agree as follows: 
 ARTICLE I 
 DEFINITIONS AND INTERPRETATION 

Section 1.01. General Definitions. Unless otherwise defined, or the context otherwise requires, terms defined in the
Loan Agreement have the same meanings when used in this Agreement and the following terms have the following meanings: 
  

			
	“Bank”	  	China Merchants Bank Co., Ltd., Beijing Chaoyangmen Sub-Branch, or such other bank as agreed upon by BUFH and IFC;
		
	“Cash Collateral Account”	  	the meaning given to it in Section 2.01 of the Certificate of Deposit Retention and Pledge Agreement;
		
	“Certificate of Deposit”	  	the meaning given to it in Paragraph (E) of the Whereas Clause above;
		
	“Collateral”	  	the Certificate of Deposit and all the right, title and interest in and to the Certificate of Deposit;
		
	“Default Notice”	  	the meaning given to it in Section 4.01;
		
	“IFC Account”	  	IFC’s RMB bank account with the Bank, or such other bank account as IFC shall notify the parties from time to time;
		
	“PRC” or “China”	  	the People’s Republic of China (solely for the purpose of this Agreement excluding Hong Kong SAR, Macau SAR and Taiwan);
		
	“Repayment Date”	  	the meaning assigned to it in the Loan Agreement;
		
	“Secured Amounts”	  	at any time and from time to time all principal, interest, fees and other amounts payable by the Borrowers under the Loan Agreement and all amounts payable by BUFH under Section
8.02; and
		
	“Transaction Documents”	  	the meaning assigned to it in the Loan Agreement.

 Section 1.02. Interpretation. In this Agreement, unless the context
otherwise requires: 
 (a) headings are for convenience only and do not affect the interpretation of this Agreement;

 (b) words importing the singular include the plural and vice versa; 

(c) a reference to a Section, Article, Schedule or party is a reference to that Section or Article of, or that Schedule or party to,
this Agreement; 
 (d) a reference to a document includes an amendment or supplement to, or restatement, replacement or
novation of, that document but disregarding any amendment, supplement, restatement, replacement or novation made in breach of this Agreement or any other Transaction Document; and 

(e) a reference to a party to any document includes that party’s successors and permitted assigns. 

ARTICLE II 

PLEDGE 

Section 2.01. Pledge. (a) As continuing security for the payment and discharge in full of all the Secured
Amounts, BUFH hereby pledges to IFC the Collateral. 
 (b) For the avoidance of doubt, the security hereby created does not
create or impose upon IFC any liability or obligation to perform or fulfil any of the obligations of BUFH under or in respect of the Collateral. 
 Section 2.02. Negative Pledge. BUFH hereby undertakes to IFC that, unless IFC otherwise agrees, it shall not: 
 (a) assign or purport to assign, transfer or otherwise deal with any interest of BUFH in the Collateral; or 
 (b) create, agree to create or permit to exist any Lien (howsoever ranking in priority) of any nature whatsoever on or over the Collateral, other than Liens created pursuant to this Agreement and the
Transaction Documents. 

 Section 2.03. Discharge. The security hereby created shall lapse and be
discharged upon all the Secured Amounts having been paid and discharged in full. 
 Section 2.04. Condition.
Any such discharge of the security referred to in Section 2.03, and any composition or arrangement which BUFH may effect with IFC, shall be deemed to be made subject to the condition that it will be void if any payment or security which IFC
may previously have received or may thereafter receive from any Person in respect of the Secured Amounts is set aside under any applicable law or proves to have become or been for any reason invalid. 

Section 2.05. Retention of Security. Notwithstanding the provisions of Sections 2.03 and 2.04, if IFC shall have
grounds in its absolute discretion for believing that BUFH may be insolvent as at the date of any payment made by BUFH to IFC, IFC may, to the extent permitted under applicable law of the PRC, retain the security created pursuant to this Agreement
until the expiry of a period of one (1) month plus such statutory period within which any security, guarantee or payment can be avoided or invalidated after the payment and discharge in full of all the Secured Amounts notwithstanding any
release, settlement, discharge or arrangement which may be given or made by IFC on, or as a consequence of, such payment and discharge provided that, if at any time within such period, a petition is presented to a competent court for an order for
the winding up of BUFH or any analogous proceedings are commenced by or against BUFH, IFC may continue to retain such security for such further period as IFC shall determine and such security shall be deemed to have continued to have been held as
security for the payment and discharge in full of all the Secured Amounts. 
 Section 2.06. Surplus. If any
amount remains after the indefeasible payment and discharge in full of all the Secured Amounts and subject to Section 2.05, the balance standing to the credit of BUFH shall be returned to BUFH and IFC shall at the cost of BUFH (including any
cost of notarization, registration and obtaining of any Authorization from any Authority) execute and deliver to BUFH the necessary instruments to evidence the discharge of the security hereby created. 

ARTICLE III 
 PERFECTION OF SECURITY 
 Section 3.01. Registration and
Delivery. BUFH shall, on the same day of obtaining the Certificate of Deposit from the Bank, (i) cause the Bank to initiate the verification (he ya 核押) process with respect to the Collateral and provide the
relevant Fixed Deposit Certificate Confirmation Letter (单位定期存单确认书 in Chinese) to IFC within five (5) days; and (ii) deliver the Collateral to IFC. 

 Section 3.02 Renewal of the Certificate of Deposit. If the term of the
Certificate of Deposit expires prior to the Interest Payment Date or the Repayment Date (as applicable) and/or before all the Secured Amounts are fully paid, BUFH shall, on the maturity day of the Certificate of Deposit, immediately renew the
Certificate of Deposit on the terms set forth in Section 3.01 of the Certificate of Deposit Retention and Pledge Agreement. 
 If, in
connection with the renewal, any changes are made to the Collateral and/or the Fixed Deposit Certificate Confirmation Letter (单位定期存单确认书 in Chinese), BUFH shall, on the same day of the
renewal, (i) cause the Bank to initiate the verification (he ya 核押) process with respect to such Collateral and provide a revised Fixed Deposit Certificate Confirmation Letter to IFC; and (ii) deliver the Collateral to
IFC. 
 For the avoidance of doubts, failure by BUFH or the Bank to comply with the obligations under this Section 3.02 shall constitute an
Event of Default as defined in the Loan Agreement. 
 Section 3.03. Further Assurances. BUFH undertakes to
take whatever action (including obtaining any Authorizations, executing any documents, effecting any registrations and giving any notices, orders, instructions or directions) IFC may reasonably require for: 

(a) perfecting or protecting the security created or intended to be created by this Agreement over the Collateral; and 

(b) facilitating the realization of the Collateral or the exercise of any right, power or discretion exercisable by IFC in respect of the
Collateral. 
 ARTICLE IV 
 ENFORCEMENT 
 Section 4.01. Enforcement. The security
created by this Agreement shall become enforceable by IFC immediately upon the occurrence of an Event of Default and, upon the service of a notice to BUFH by IFC (a “Default Notice”), IFC shall be entitled to exercise all rights,
powers and discretions in respect of the Collateral, to the exclusion of BUFH, and to take all action and pursue all remedies available to IFC at law to enforce such security. 
 Section 4.02. No Discharge. Subject to Section 6.02, the obligations of BUFH under this Agreement shall not be discharged or impaired by: 

(i) expiration of the Certificate of Deposit (or renewed Certificate of Deposit); 

 (b) any invalidity, unenforceability or other defect relating to the Loan Agreement or any
of the other Transaction Documents or any security relating to any such documents; 
 (c) any amendment to or variation of
the Loan Agreement or any of the other Transaction Documents or any security relating to any such documents, and BUFH hereby gives its consent to any such amendment or variation; 

(d) any release of or granting of time or any other indulgence to BUFH or any third party; 

(e) any winding up, dissolution, reconstruction or reorganization, legal limitation, incapacity or lack of corporate power or
authority or other circumstances of, or any change in the constitution or corporate identity or loss of corporate identity by BUFH or any other Person; or 
 (f) any other act, event, neglect or omission which would or might but for this Section operate to impair or discharge BUFH’s liability hereunder. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 
 Section 5.01. Representations and Warranties. BUFH represents and warrants to IFC that: 
 (a) it is a company duly organized under the laws of China, is in good standing and has the corporate power to execute and deliver this Agreement and to perform fully and completely all its
obligations and liabilities hereunder; 
 (b) this Agreement has been duly authorized, executed and delivered by it and
constitutes its valid and legally binding obligations, enforceable in accordance with the terms hereof; 
 (c) the
execution, delivery and performance by it of this Agreement will not violate any provision of any law or regulation applicable to it or order or decree of any Authority having jurisdiction over it or of its charter documents, or of any contract,
undertaking or agreement to which it is a party or which is binding upon it or any of its property or assets and will not result in the imposition or creation of any Lien on any part thereof pursuant to the provisions of any such contract,
undertaking or agreement; 
 (d) it is the sole legal and beneficial owner of the Collateral; and 

(e) no Lien exists over the Collateral at the date of execution of this Agreement, other than Liens created pursuant to this
Agreement and the Transaction Documents. 

 Section 5.02. Reliance. BUFH warrants to IFC that each of the
representations made in Section 5.01 is true and correct in all material respects as of the date of this Agreement and that none of them omits any matter the omission of which makes any of such representations misleading. 

Section 5.03. Rights and Remedies not Limited. The rights and remedies of IFC in relation to any misrepresentations or
breach of warranty on the part of BUFH shall not be prejudiced: 
 (a) by any investigation by or on behalf of IFC into the
affairs of BUFH; 
 (b) by the execution or the performance of this Agreement; or 

(c) by any other act or thing which may be done by or on behalf of IFC in connection with this Agreement and which might, apart from
this Section, prejudice such rights or remedies. 
 ARTICLE VI 

CUSTODY OF DEPOSIT CERTIFICATE 
 Section 6.01. Custody of Certificate of Deposit. Upon delivery of the Certificate of Deposit to IFC in accordance with Section 3.01 hereof, such certificate shall remain in
IFC’s custody until the security created with respect to such Certificate of Deposit is fully discharged as set forth in Section 6.02. 
 Section 6.02. Delivery and Discharge of Certificate of Deposit. (a) Other than during the occurrence of an Event of Default, [on the maturity date of the Certificate of Deposit,
IFC shall deliver to the Bank such Certificate of Deposit and written authorization to transfer the full principal amount of such Certificate of Deposit and all the interest accrued on such Certificate of Deposit to an account designated by
BUFH.]1 [on the Repayment Date, IFC shall deliver to the
Bank the Certificate of Deposit and written authorization to transfer the full principal amount of such Certificate of Deposit to the IFC Account and, at the same time, transfer all the interest accrued on such Certificate of Deposit to an account
designated by BUFH.]2 

(b) At the time the Certificate of Deposit is delivered to the Bank by the IFC and the amounts with respect to such Certificate of
Deposit transferred to the account as set forth in paragraph (a) above, the security interest in such Certificate of Deposit is released and discharged with respect to the amounts secured by such Certificate of Deposit. 

 

	1 	In case of CD1, CD2 or CD3. 

	2 	In case of CD4. 

 ARTICLE VII 
 EFFECTIVENESS 
 Section 7.01. Effectiveness. The
security created by this Agreement over the Collateral shall become effective when the Certificate of Deposit is delivered to IFC. 
 ARTICLE VIII 
 MISCELLANEOUS 

Section 8.01. Appointment of Attorney. BUFH hereby irrevocably appoints IFC as BUFH’s attorney with full power
(in the name of BUFH or otherwise) to carry out any of BUFH’s obligations hereunder, and to exercise all the rights of BUFH in connection with the Collateral and to file any claims or take any lawful action or institute any proceedings which
may be necessary for the purpose of putting into effect the intent of this Agreement. BUFH shall ratify and confirm all things done and all documents executed by any attorney in the exercise or purported exercise of all or any of his powers pursuant
to this Section 8.01. 
 Section 8.02. Expenses. BUFH shall on demand pay all documented expenses
(including legal and out-of-pocket expenses) incurred by IFC in connection with the preservation or enforcement of any of their rights under this Agreement; and shall keep IFC indemnified against any failure or delay in paying the same. 

Section 8.03. Notices. Any notice, request or other communication to be given or made under this Agreement shall be in
writing. Any such communication may be delivered by hand, airmail, facsimile or established courier service to the party’s address specified below or at such other address as such party notifies to the other party from time to time, and will be
effective upon receipt. 
 For BUFH: 
  

	
	 BEIJING UNITED FAMILY HEALTH CENTER
  

No. 9-11 Jiangtai Western Road, Chaoyang District
 Beijing, China 100015

	
	 Facsimile:         (8610) 5827-7200
 Attention:   General Manager
  
 With a copy sent to the attention of Vice President, Finance and Health Care Services Division, Chindex International, Inc. at:

 
 Facsimile:   (301) 215-7719

 For IFC: 
  

	
	 INTERNATIONAL FINANCE CORPORATION
  

2121 Pennsylvania Avenue, N.W.
  

Washington, D.C. 20433
  
 United States of America
  

Facsimile: 1-202-974-4322
 Attention: Director,
Global Manufacturing & Services Department
  
 With a copy (in the
case of communications relating to payments) sent to the attention of the Senior Manager, Financial Operations Unit, at:
  
 Facsimile:         +1 (202) 974-4371

 Section 8.04. English Language. Any notice, request or other communication to be given
or made under this Agreement shall be in the English language or, if in another language, shall, if IFC so requests, be accompanied by a translation into English satisfactory to IFC, which translation shall be the governing version between the
relevant parties. 
 Section 8.05. Applicable Law and Jurisdiction. (a) This Agreement is governed by
and shall be construed in accordance with the laws of the PRC. 
 (b) In the event of any dispute in the interpretation or
enforcement of this Agreement, IFC shall be entitled to commence a legal action to interpret or enforce the provisions hereof. 

Section 8.06. Severability. Any provision of this Agreement which is prohibited or unenforceable by reason of any
present or future law in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability 

 
without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction. 
 Section 8.07. Successors and Assigns. This Agreement binds and benefits the respective
successors and assigns of the parties. However, BUFH may not assign or delegate any of its rights or obligations under this Agreement without the consent of IFC. 
 Section 8.08. Amendment. Any amendment of any provision of this Agreement shall be in writing and signed by the parties. 

Section 8.09. Execution Copies. This Agreement has been written in English in four (4) originals each, all of
which constitute one and the same agreement. BUFH shall hold two (2) originals and IFC shall hold two (2) originals. 

Section 8.10. Remedies and Waivers. No failure or delay by IFC in exercising any power, remedy, discretion, authority
or other rights under this Agreement shall waive or impair that or any other right of IFC. No single or partial exercise of such right shall preclude its additional or future exercise. No such waiver shall waive any other right under this Agreement.
All waivers or consents given under this Agreement shall be in writing. 
 Section 8.11. Entire Agreement.
This Agreement contains the entire agreement of the parties with respect to the subject matter of this Agreement. 
 AS
WITNESS this Agreement is entered into by the parties, acting through their duly authorized representatives, as of the date first above written. 
 BEIJING UNITED FAMILY HEALTH CENTER 
  

			
	By:	 	  

  

			
	Name:	 	  

  

			
	Title:	 	  

 INTERNATIONAL FINANCE CORPORATION 

 

			
	By:	 	  

  

			
	Name:	 	  

  

			
	Title:Amendment to the Fourth Amended and Restated Credit Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO FOURTH AMENDED 
 AND RESTATED CREDIT AGREEMENT

 THIS FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT (herein called this
“Amendment”), dated effective as of May 7, 2012 (the “Effective Date”), is entered into by and among W&T OFFSHORE, INC., a Texas corporation, as the borrower (the “Borrower”),
the various financial institutions parties hereto, as lenders (collectively, the “Lenders”), TORONTO DOMINION (TEXAS) LLC, individually and as agent (in such capacity together with any successors thereto, the
“Agent”) for the Lenders, and the issuers of letters of credit parties hereto, as issuers (collectively, the “Issuers”). Terms defined in the Credit Agreement (as hereinafter defined) are used herein with the same
meanings as given them therein, unless the context otherwise requires. 
 W I T N E S S E T H 

WHEREAS, the Borrower, the Lenders, the Agent and the Issuers have heretofore executed that certain Fourth Amended and Restated
Credit Agreement, dated as of May 5, 2011 (as may be amended, supplemented, restated or otherwise modified from time to time, including pursuant to that certain Waiver to Fourth Amended and Restated Credit Agreement, dated as of
July 28, 2011, the “Credit Agreement”); and 
 WHEREAS, the parties hereto hereby further
intend to amend certain provisions of the Credit Agreement, in each case on the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the undersigned hereby agree as
follows: 
 1. Amendments to Credit Agreement. 

(a) Amendment to Section 1.1 of the Credit Agreement. Section 1.1 of the Credit Agreement is hereby
amended by amending and restating the following definitions in their entirety with the following: 
 “Approved
Counterparty” means any counterparty to a Hedging Contract with a Restricted Person that (a) is a Lender or an Affiliate of a Lender or (b) was a Lender or an Affiliate of a Lender at the time such Hedging Contract was
consummated. 
 “Issuer” means each of Wells Fargo Bank, N.A., Natixis and The Toronto-Dominion Bank, New York
Branch (or one of its respective Affiliates) or any other Lender which has agreed to issue one or more Letters of Credit at the request of the Agent (which shall, at the Borrower’s request, notify the Borrower from time to time of the identity
of such other Lender); provided that no Issuer without its consent shall be required to have outstanding at any time Letters of Credit issued by such Issuer having a Stated Amount of more than $30,000,000 in the aggregate. 

“Lender Parties” means the Agent, the Other Agents, the Issuers, the Lenders, the Approved Counterparties and their
successors, transferees and assigns (provided that with respect to Approved Counterparties, the successor, transferee or assign, as applicable, meets the requirements of the definition of “Approved Counterparty” herein); and
“Lender Party” means any of them. 
 “Loan Documents” means this Agreement, the Notes, all
Letters of Credit, the Security Documents, any Hedging Contract between the Borrower or another Restricted Person and an Approved Counterparty, and all other agreements, amendments, supplements or other modifications, certificates, documents,
instruments and writings at any time delivered in connection herewith or therewith (exclusive of term sheets, commitment letters, correspondence and similar documents used in the negotiation hereof, except to the extent the same contain information
about Borrower or its Affiliates, properties, business or prospects, but inclusive of any fee letters between any Restricted Person and any Arranger, Agent or Other Agent). 

(b) Amendment to Section 7.3(a) of the Credit Agreement. Section 7.3(a) of the Credit Agreement is hereby
amended by (1) deleting the parenthetical in subclause (iii) that states “(except that any such contract that is with a Lender or an Affiliate of a Lender may be secured pursuant to the Security Documents and entitled to the benefits
of Security Documents and the provisions of this Agreement and the other Loan Documents relating to the Collateral in accordance with Section 10.14)” and inserting in place thereof the following parenthetical “(except that any such
contract that is with an Approved Counterparty may be secured pursuant to the Security Documents and entitled to the benefits of Security Documents and the provisions of this Agreement and the other Loan Documents relating to the Collateral in
accordance with Section 10.14)” and (2) deleting the only parenthetical phrase in subclause (iv) and inserting in place thereof the following parenthetical “(unless at the time the contract is made such counterparty is an
Approved Counterparty)”. 

 (c) Amendment to Section 9.4 of the Credit Agreement.
Section 9.4 of the Credit Agreement is hereby amended by deleting the sentence that reads “For the avoidance of doubt, any indemnification relating to Taxes shall be covered exclusively by Section 3.6 and shall not be covered by this
Section 9.4.” and inserting in place thereof the following: 
 “The Agent shall not be liable to any Approved
Counterparty for any action taken or omitted to be taken by it under any Loan Document, or in connection therewith; the Agent shall not be responsible for any recitals or warranties herein or under any Loan Document, nor for the effectiveness,
enforceability, validity or due execution of any Loan Document, nor for the creation, perfection or priority of any Liens purported to be created by any of the Loan Documents, or the validity, genuineness, enforceability, existence, value or
sufficiency of any collateral security. Each Approved Counterparty agrees to indemnify Agent (to the extent not reimbursed by Borrower within ten (10) days after demand) from and against such Approved Counterparty’s pro rata share of any
and all liabilities and costs which to any extent (in whole or in part) may be imposed on, incurred by, or asserted against Agent growing out of, resulting from or in any other way associated with any of the Collateral, the Loan Documents and the
transactions and events (including the enforcement thereof) at any time associated therewith or contemplated therein (including any Environmental Claims or violation or noncompliance with any Environmental Laws by any Person or any liabilities or
duties of any Person with respect to the presence or Release of Hazardous Materials found in or released into the environment). For the avoidance of doubt, any indemnification relating to Taxes shall be covered exclusively by Section 3.6 and
shall not be covered by this Section 9.4.” 
 (d) Amendment to Section 10.8 of the Credit
Agreement. Section 10.8 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“Governing Law; Submission to Process; Forum Selection. Each of the parties hereto irrevocably and unconditionally agrees that
it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Borrower, any Subsidiary, any guarantor, any Lender Party or any other party
hereto or any related party of the foregoing in any way relating to this Agreement or any other Loan Document or the transactions relating hereto or thereto, in any forum other than the courts of the State of Texas sitting in Harris County, and of
the United States District Court of the Southern District of Texas, and any appellate court from any thereof and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in
respect of any such action, litigation or proceeding may be heard and determined in such Texas state court or, to the fullest extent permitted by applicable law, in such federal court; provided that, any suit seeking enforcement against any
Collateral or other property may be brought, at the Agent’s option, in the courts of any jurisdiction where such Collateral or other property may be found (or in any jurisdiction that is otherwise applicable to such Collateral or property).
Each of the parties hereto agrees that a final judgment in any such action, litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the parties
hereto irrevocably consents to the service of process by any means allowed under applicable Law, including by certified mail, return receipt requested, or by personal service within or without the State of Texas at the address for notices specified
in Section 10.2 or Schedule II, as applicable. Each of the parties hereto hereby expressly and irrevocably waives, to the fullest extent permitted by law, any objection which it may have or hereafter may have to the laying of venue of any
such litigation brought in any such court referred to above and any claim that any such litigation has been brought in an inconvenient forum. To the extent that any of the parties hereto has or hereafter may acquire any immunity from jurisdiction of
any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution or otherwise) with respect to itself or its property, each such party hereby irrevocably waives to the fullest
extent permitted by law such immunity in respect of its Obligations under the Loan Documents. The Loan Documents shall be deemed contracts and instruments made under and governed by the laws of the State of New York (including for such purposes
Sections 5-1401 AND 5-1402 of the General Obligations Law of the State of New York); provided that to the extent that the law of a state in which Collateral or other property may be found (or in any jurisdiction that is otherwise applicable
to such Collateral or property) governs with respect to procedural and substantive matters relating to the creation, perfection and enforcement of the liens, security interests and other rights and remedies of the Agent, any trustee, mortgagee or
other secured party granted under the applicable Loan Document, the law of such state shall apply as to that portion of the Collateral or property located in (or which is otherwise subject to the laws of) such state.” 

(e) Amendment to Section 10.14 of the Credit Agreement. Section 10.14 of the Credit Agreement is hereby
amended and restated in its entirety as follows: 
 “Release of Collateral; Collateral Matters; Hedging. Agent and
each Lender Party hereby irrevocably authorize Agent at its option and in its discretion to release (at Borrower’s expense) any Lien arising under the Security Documents (A) upon termination of the Commitments and (x) payment in full
of all Obligations (other than contingent indemnification obligations), (y) the expiration or termination of all Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to Agent and the applicable Issuer
shall have been made) and (z) the termination or unwinding of or the novation to a financial institution that is not an Approved Counterparty of all then existing Hedging Contracts originally entered into by an Approved Counterparty and a
Restricted Person, (B) relating to interests in oil and gas 

  
 2 

 
properties that have been sold or otherwise transferred by any Restricted Person in compliance with Section 7.5, so long as (x) no Event of Default shall have occurred and be
continuing, (y) the Agent has received a written request by Borrower, and (z) the Agent has received the indefeasible prepayment of the Loans and Letter of Credit Outstandings required in connection with such sale, if any, (C) subject
to Section 10.1 if approved authorized or ratified in writing by the Majority Lenders or (D) in connection with any foreclosure sale or other disposition of Collateral after the occurrence of an Event of Default. The benefit of the
Security Documents and the provisions of this Agreement and the other Loan Documents relating to the Collateral shall also extend to and be available on a pro rata basis to each Approved Counterparty in respect of any obligations under a Hedging
Contract with any Restricted Person; provided that such Hedging Contract was entered into while such Approved Counterparty was a Lender or an Affiliate of a Lender. For the avoidance of doubt, the benefits of the Security Documents and the
provisions of this Agreement and the other Loan Documents will not extend to Hedging Contracts entered into between a Restricted Person and a counterparty if such counterparty was not a Lender or an Affiliate of a Lender at the time such Hedging
Contract was consummated. No Approved Counterparty shall have any voting or consent right under any Loan Document as a result of the existence of obligations owed to it under a Hedging Contract.” 

(f) Amendment to Schedule 3 to the Credit Agreement. Schedule 3 to the Credit Agreement is hereby amended by
deleting Schedule 3 to the Credit Agreement in its entirety and replacing it with a new Schedule 3 in the form attached as Exhibit A to this Amendment. 
 2. Redetermination of Borrowing Base. The Borrower and the Lenders hereby agree that effective as of the Effective Date (hereinafter defined), the Borrowing Base shall be equal to $650,000,000
until such time as the Borrowing Base is redetermined or otherwise adjusted pursuant to the terms of the Credit Agreement. 
 3.
Representations and Warranties. The Borrower and each Restricted Person (if any) hereby represents and warrants that after giving effect hereto: 
 (a) the representations and warranties of the Borrower and such Restricted Person (if any) contained in the Loan Documents are true and correct in all material respects on and as of the Effective Date,
other than those representations and warranties that expressly relate solely to a specific earlier date, which shall remain correct in all material respects as of such earlier date; 

(b) the execution, delivery and performance by the Borrower and such Restricted Person (if any) of this Amendment are
within their corporate or limited liability powers, have been duly authorized by all necessary action, require, in respect of any of them, no action by or in respect of, or filing with, any governmental authority which has not been performed or
obtained and do not contravene, or constitute a default under, any provision of Law or regulation or the articles of incorporation or the bylaws of any of them or any agreement, judgment, injunction, order, decree or other instrument binding upon
the Borrower or such Restricted Person (if any) or result in the creation or imposition of any Lien on any asset of any of them except as contemplated by the Loan Documents other than, in each case, as would not reasonably be expected to cause a
Material Adverse Change; 
 (c) the execution, delivery and performance by the Borrower and such Restricted
Person of this Amendment constitutes the legal, valid and binding obligation of each of them enforceable against them in accordance with its terms except as such enforcement may be limited by bankruptcy, insolvency or similar Laws of general
application relating to enforcement of creditors’ rights; and 
 (d) no Default or Event of Default has
occurred and is continuing. 
 4. Conditions to Effectiveness. This Amendment shall be deemed effective (subject to the
conditions herein contained) as of the Effective Date on the day on which the Agent has received all counterparts hereof duly executed by the Borrower, the Agent, the Issuers and all of the Lenders and upon the prior or concurrent satisfaction of
each of the following conditions: 
 (a) Delivery of Notes. The Agent shall have received, for the account
of each Lender that has requested a Note, a Note payable to the order of such Lender duly executed and delivered by an Authorized Officer of the Borrower. 
 (b) Fees. The Agent shall have received for its own account, or for the account of each Lender, as the case may be, a fee for each Existing Lender (hereinafter defined) equal to 12.5bps on its
Commitment (before giving effect to this Amendment) and a fee for each Lender becoming a Lender pursuant to this Amendment a fee equal to 62.5bps on its Commitment. 
 5. Assignment and Reallocation of Commitments, Etc. On the Effective Date, each of the lenders under the Credit Agreement prior to the effectiveness of this Amendment (each, an “Existing
Lender”) hereby sells, assigns, transfers and conveys to the Lenders under the Credit Agreement as amended hereby, and each of the Lenders party to this Amendment hereby purchases and accepts, so much of the aggregate Commitments under, and
Loans and participations in Letters of Credit outstanding under, the Credit Agreement such that, immediately after giving effect to the effectiveness of this Amendment (including any increase of the commitments effectuated hereby), the Revolving
Loan Percentage Share of each Lender after giving effect to this Amendment, shall be as set forth on Schedule 3 hereto (it being understood that if any Letters of Credit are outstanding under the Credit Agreement as of the Effective

  
 3 

 
Date of this Amendment, then each of the Lenders shall have purchased and accepted from the Existing Lenders, a participation in such outstanding Letters of Credit based on its respective
Revolving Loan Percentage Share. The foregoing assignments, transfers and conveyances are without recourse to any Existing Lender and without any warranties whatsoever by the Agent, any Issuer or any Existing Lender as to title, enforceability,
collectability, documentation or freedom from liens or encumbrances, in whole or in part, other than that the warranty of any such Existing Lender that it has not previously sold, transferred, conveyed or encumbered such interests. The Existing
Lenders and the Lenders shall, if appropriate, make all appropriate adjustments in payments under the Credit Agreement, the “Notes” and the other “Loan Documents” thereunder for periods prior to the adjustment date
among themselves, but in no event shall any such adjustment of LIBOR Loans constitute a payment or prepayment of all or a portion of any LIBOR Loans. 
 Each of the Agent and the Borrower hereby agrees that the provisions of this Section 5 satisfy the requirements of Section 10.6 of the Credit Agreement. The Agent hereby waives the processing
fee otherwise required pursuant to Section 10.6 of the Credit Agreement in respect of the assignments pursuant hereto. 

6. Ratification; Loan Document. This Amendment shall be deemed to be an amendment to the Credit Agreement, and the Credit Agreement, as
hereby amended, is hereby ratified, approved and confirmed in each and every respect. The Borrower and each other Restricted Person (if any) hereby ratifies, approves and confirms in every respect all the terms, provisions, conditions and
obligations of the Loan Documents (including, without limitation, all Security Documents) to which it is a party. All references to the Credit Agreement in any Loan Document or in any other document, instrument, agreement or writing shall hereafter
be deemed to refer to the Credit Agreement as hereby amended. This Amendment is a Loan Document. 
 7. Costs And Expenses. As
provided in Section 10.4 of the Credit Agreement, the Borrower agrees to reimburse Agent for all reasonable costs and expenses incurred by or on behalf of Agent (including attorneys’ fees, consultants’ fees and engineering fees,
travel costs and miscellaneous expenses) in connection with this Amendment and any other agreements, documents, instruments, releases, terminations or other collateral instruments delivered by the Agent in connection with this Amendment. 

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

9. Severability. Any provision of this Amendment that is prohibited or unenforceable in any jurisdiction shall, as to such
provision and such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Amendment or affecting the validity or enforceability of such provision in any other
jurisdiction. 
 10. Counterparts. This Amendment may be executed in any number of counterparts, all of which taken
together shall constitute one and the same instrument, and any party hereto may execute this Amendment by signing one or more counterparts. Any signature hereto delivered by a party by facsimile or electronic transmission shall be deemed to be an
original signature hereto. 
 11. Successors and Assigns. This Amendment shall be binding upon the Borrower and its
successors and permitted assigns and shall inure, together with all rights and remedies of each Lender Party hereunder, to the benefit of each Lender Party and its successors, transferees and assigns. 

(The remainder of this page is intentionally left blank.) 

  
 4 

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

			
	BORROWER:
	
	W&T OFFSHORE, INC.
		
	By:	 	/s/ John D. Gibbons
	Name: John D. Gibbons
	Title: Chief Financial Officer

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-1 

 
			
	TORONTO DOMINION (TEXAS) LLC,
 as Agent and
Lender

		
	By:	 	/s/ Bebi Yasin
	Name: Bebi Yasin
	Title: Authorized Signatory

  

			
	THE TORONTO-DOMINION BANK,
 as Issuer

		
	By:	 	/s/ David Perlman
	Name: David Perlman
	Title: Associate Vice President

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-2 

 
			
	IBERIABANK.
		
	By:	 	/s/ W. Bryan Chapman
	Name: W. Bryan Chapman
	Title: Executive Vice President

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-3 

 
			
	BANK OF SCOTLAND,
 as Lender

		
	By:	 	/s/ Julia R. Franklin
	Name: Julia R. Franklin
	Title: Vice President

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-4 

 
			
	NATIXIS,
 as an Issuer and Lender

		
	By:	 	/s/ Carlos Quinteros
	Name: Carlos Quinteros
	Title: Managing Director

  

			
		
	By:	 	/s/ Louis P. Laville, III
	Name: Louis P. Laville, III
	Title: Managing Director

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-5 

 
			
	GE BUSINESS FINANCIAL SERVICES, INC.
 f/k/a MERRILL LYNCH
BUSINESS FINANCIAL SERVICES, INC.,
 as Lender

		
	By:	 	/s/ Michael Beck
	Name: Michael Beck
	Title: Authorized Signatory

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-6 

 
			
	AMEGY BANK NATIONAL ASSOCIATION,
 as
Lender

		
	By:	 	/s/ Charles W. Patterson
	Name: Charles W. Patterson
	Title: Senior Vice President

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-7 

 
			
	WELLS FARGO BANK, N.A.,
 as an Issuer and
Lender

		
	By:	 	/s/ Edward Pak
	Name: Edward Pak
	Title: Director

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-8 

 
			
	ING CAPITAL LLC,
 as Lender

		
	By:	 	/s/ Charles Hall
	Name: Charles Hall
	Title: Managing Director

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-9 

 
			
	MORGAN STANLEY BANK, N.A.,
 as Lender

		
	By:	 	/s/ Dmitriy Barsky
	Name: Dmitriy Barsky
	Title: Authorized Signatory

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-10 

 
			
	THE BANK OF NOVA SCOTIA,
 as Lender

		
	By:	 	/s/ Terry Donoran
	Name: Terry Donoran
	Title: Managing Director

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-11 

 
			
	CITIBANK, N.A.,
 as Lender

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

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-12 

 
			
	REGIONS BANK,
 as Lender

		
	By:	 	/s/ Kelly L. Elmore III
	Name: Kelly L. Elmore III
	Title: Senior Vice President

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-13 

 
			
	ABN AMRO CAPITAL USA, LLC,
 as Lender

		
	By:	 	/s/ David L. Montgomery
	Name: David L. Montgomery
	Title: Director

  

			
		
	By:	 	/s/ Darrell W. Holley
	Name: Darrell W. Holley
	Title: Managing Director

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-14 

 
			
	CAPITAL ONE, N.A., as Lender
		
	By:	 	/s/ Nancy M. Mak
	Name:	 	Nancy M. Mak
	Title:	 	Vice President

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-15 

 
			
	SUMITOMO MITSUI BANKING CORPORATION, as Lender
		
	By:	 	/s/ Shuji Yabe
	Name:	 	Shuji Yabe
	Title:	 	Managing Director

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-16 

 
			
	GOLDMAN SACHS BANK, USA, as Lender
		
	By:	 	/s/ Mark Walton
	Name:	 	Mark Walton
	Title:	 	Authorized Signatory

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-17 

 
			
	CADENCE BANK, N.A., as Lender
		
	By:	 	/s/ Eric Broussard
	Name:	 	Eric Broussard
	Title:	 	Senior Vice President

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-18 

 
			
	BNP PARIBAS, as Lender
		
	By:	 	/s/ PJ de Filippis
	Name:	 	PJ de Filippis
	Title:	 	Managing Director

  

			
		
	By:	 	/s/ Mylene Dao
	Name:	 	Mylene Dao
	Title:	 	Managing Director

  
 -Signature
Page to 
 First Amendment to Credit Agreement- 
 S-19 

 SCHEDULE 3 
 LENDERS SCHEDULE 
  

													
	 	  	Revolving
Loan
Percentage
Share	 	 	Revolving Loan
Commitment
for
$900,000,000
Aggregate
Revolving Loan
Commitment	 	  	Revolving Loan
Commitment 
for
$650,000,000 
Initial
Availability
Amount on
Effective
Date	 
	 Lending Office:
	  				 				  			
	 Toronto Dominion (Texas) LLC

31 West 52nd Street, 20th Floor
 New York, New York 10019
 Tel: (212) 827-7600

Fax: (212) 827-7227

Attn: Rose Warren
  

(with a copy to:
 909 Fannin, Suite 1950
 Houston, Texas 77010

Tel: (713) 653-8211

Fax: (713) 652-2647

Attn: Martin Snyder)
	  	 	8.461538	% 	 	$	76,153,846.15	  	  	$	55,000,000	  
				
	 Wells Fargo Bank

1700 Lincoln Street, 5th Floor
 Denver, CO 80203
 Tel: (303) 863-5768

Fax: (303) 863-2729

Attn: Taylor Barnette
	  	 	7.905983	% 	 	$	71,153,846.15	  	  	$	51,388,889	  
				
	 Morgan Stanley Bank, N.A.

One Pierrepont Plaza

Brooklyn, New York 11201

Tel: (718) 754-4041

Fax: (718) 233-2132

Attn: Michael Gavin
	  	 	8.461538	% 	 	$	76,153,846.15	  	  	$	55,000,000	  
				
	 Bank of Scotland plc

1095 Avenue of the Americas, 35th Floor
 New York, New York 10036
 Tel: (212) 450-0877

Fax: (212) 479-2806

Attn: Karen Weich
	  	 	8.307692	% 	 	$	74,769,230.77	  	  	$	54,000,000	  
				
	 The Bank of Nova Scotia

720 King Street W, 2nd Floor

Toronto, ON M5V 2T3

Tel: (212) 225-5705

Fax: (212) 225-5709

Attn: Ivica Anastasov
	  	 	8.307692	% 	 	$	74,769,230.77	  	  	$	54,000,000	  

  

-First Amendment to 
 Credit Agreement- 
 Schedule 3 — Page 1 

 SCHEDULE 3 
 LENDERS SCHEDULE 
  

													
	 	  	Revolving
Loan
Percentage
Share	 	 	Revolving Loan
Commitment
for
$900,000,000
Aggregate
Revolving Loan
Commitment	 	  	Revolving Loan
Commitment 
for
$650,000,000 
Initial
Availability
Amount on
Effective
Date	 
	 Natixis

333 Clay Street, Suite 4340

Houston, Texas 77002

Tel: (713) 759-9495

Fax: (713) 571-6167

Attn: Liana Tchnernysheva
	  	 	8.307692	% 	 	$	74,769,230.77	  	  	$	54,000,000	  
				
	 Amegy Bank National Association

4400 Post Oak Parkway #404

Houston, Texas 77027

Tel: (713) 232-2026

Fax: (713) 561-0345

Attn: Charles W. Patterson
	  	 	6.538462	% 	 	$	58,846,153.85	  	  	$	42,500,000	  
				
	 ING Capital LLC

1325 Avenue of Americas

New York, New York 10019

Tel: (646) 424-8244

Fax: (646) 424-8251

Attn: Frenklin Christian
	  	 	6.538462	% 	 	$	58,846,153.85	  	  	$	42,500,000	  
				
	 General Electric Capital Corporation

Corporate Financial Services

333 Clay Street Suite 4450

Houston, Texas 77002

Tel: (713) 951-2324

Fax: (713) 583-3271

Attn: Salman Patoli
	  	 	4.615385	% 	 	$	41,538,461.54	  	  	$	30,000,000	  
				
	 Iberiabank

11 E. Greenway Plaza, Suite 2900

Houston, Texas 77046

Tel: (713) 624-7726

Fax: (713) 965-0276

Attn: Cameron Jones
	  	 	4.615385	% 	 	$	41,538,461.54	  	  	$	30,000,000	  
				
	 Citibank, N.A.

1615 Brett Road, Building III

New Castle, DE 19720

Tel: (302) 894-6052

Attn: Loan Administration
	  	 	4.307692	% 	 	$	38,769,230.77	  	  	$	28,000,000	  

  

-First Amendment to 
 Credit Agreement- 
 Schedule 3 — Page 2 

 SCHEDULE 3 
 LENDERS SCHEDULE 
  

													
	 	  	Revolving
Loan
Percentage
Share	 	 	Revolving Loan
Commitment
for
$900,000,000
Aggregate
Revolving Loan
Commitment	 	  	Revolving Loan
Commitment 
for
$650,000,000 
Initial
Availability
Amount on
Effective
Date	 
	 Regions Bank

201 Milan Parkway

Birmingham, AL 35211

Tel: (205) 420-7725

Fax: (205) 261-7069

Attn: Kelsey Davis
  

(with a copy to:
 201 Milan Parkway
 Birmingham, AL 35211

Tel: (205) 420-7436

Fax: (205) 261-7069

Attn: Valencia Jackson
	  	 	4.000000	% 	 	$	36,000,000.00	  	  	$	26,000,000	  
				
	 ABN AMRO Capital USA, LLC

100 Park Avenue
 New York, NY 10017
 Tel: (917) 284-6921

Fax: (917) 284-6697

Attn: Elsy Garcia
  

(with a copy to:
 100 Park Avenue
 New York, NY 10017

Tel: (917) 284-6904

Fax: (917) 284-6697

Attn: Glenn Ransier
	  	 	4.000000	% 	 	$	36,000,000.00	  	  	$	26,000,000	  
				
	 Capital One, National Association

6200 Chevy Chase Dr. Laurel, MD 20707

Tel: (301) 939-5952

Fax: (301) 953-8692

Attn: Joy Victorio
  

(with a copy to:
 6200 Chevy Chase Dr. Laurel, MD 20707
 Tel: (301)
939-5954
 Fax: (301) 953-8692

Attn: Christy Wharton
	  	 	4.000000	% 	 	$	36,000,000.00	  	  	$	26,000,000	  

  

-First Amendment to 
 Credit Agreement- 
 Schedule 3 — Page 3 

 SCHEDULE 3 
 LENDERS SCHEDULE 
  

													
	 	  	Revolving
Loan
Percentage
Share	 	 	Revolving Loan
Commitment
for
$900,000,000
Aggregate
Revolving Loan
Commitment	 	  	Revolving Loan
Commitment 
for
$650,000,000 
Initial
Availability
Amount on
Effective
Date	 
	 Sumitomo Mitsui Banking Corporation, NY Branch

277 Park Avenue
 New York, NY 10172
 Tel: (212) 224-4285

Fax: (212) 224-5197

Attn: Vanessa Raoul
  

(with a copy to:
 227 Park Avenue
 New York, NY 10172

Tel: (212) 224-4393

Fax: (212) 224-5197

Tracey Watson
	  	 	4.000000	% 	 	$	36,000,000.00	  	  	$	26,000,000	  
				
	 Goldman Sachs Bank USA

200 West Street
 New York, NY 10282
 Tel: (212) 902-1099

Fax: (917) 977-3966

Attn: gs-sbd-admin-

contacts@ny.email.gs.com
	  	 	4.000000	% 	 	$	36,000,000.00	  	  	$	26,000,000	  
				
	 Cadence Bank, N.A.

PO Box 1187
 Starkville, MS 39760
 Tel: (662) 324-4761

Fax: (662) 338-5026

Attn: Katherine Hackett
  

(with a copy to:
 PO Box 1187
 Starkville, MS 39760

Tel: (662) 324-4763

Fax: (662) 338-5025

Attn: Jennifer Pittman
	  	 	3.076923	% 	 	$	27,692,307.69	  	  	$	20,000,000	  
	  
 BNP
Paribas
 1200 Smith Street, Suite 3100

Houston, TX 77002

Tel: (713) 982-1154

Fax: (713) 659-6915

Attn: Doug Liftman
	  	 	.555556	% 	 	$	5,000,000.00	  	  	$	3,611,111	  
	 TOTAL
	  	 	100	% 	 	$	900,000,000.00	  	  	$	650,000,000	  

  

-First Amendment to 
 Credit Agreement- 
 Schedule 3 — Page 4

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