Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
 CREDIT
AGREEMENT 
 Dated as of June 2, 2016 

by and among 
 VEREIT OPERATING
PARTNERSHIP, L.P., 
 as Borrower, 

VEREIT, INC., 
 as Parent, 

THE FINANCIAL INSTITUTIONS FROM TIME TO TIME PARTY HERETO, 

as Lenders, 
 and 

JPMORGAN CHASE BANK, N.A., 
 as
Administrative Agent 
  
  

JPMORGAN CHASE BANK, N.A. and BARCLAYS BANK PLC, 

as Joint Lead Arrangers and Joint Bookrunners 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	
	 ARTICLE I
  

DEFINITIONS
	   
 

  

			
	 Section 1.1
	 	 Definitions
	  	 	1	  
	 Section 1.2
	 	 General; References to Central Time
	  	 	27	  
	 Section 1.3
	 	 Financial Attributes of Non-Wholly Owned Subsidiaries
	  	 	27	  
	
	ARTICLE II	  
	
	CREDIT FACILITY	  
			
	 Section 2.1
	 	 [Reserved]
	  	 	28	  
	 Section 2.2
	 	 Term Loans
	  	 	28	  
	 Section 2.3
	 	 [Reserved]
	  	 	28	  
	 Section 2.4
	 	 [Reserved]
	  	 	28	  
	 Section 2.5
	 	 [Reserved]
	  	 	28	  
	 Section 2.6
	 	 Rates and Payment of Interest on Loans
	  	 	28	  
	 Section 2.7
	 	 Number of Interest Periods
	  	 	29	  
	 Section 2.8
	 	 Repayment of Loans
	  	 	29	  
	 Section 2.9
	 	 Prepayments
	  	 	29	  
	 Section 2.10
	 	 Continuation
	  	 	29	  
	 Section 2.11
	 	 Conversion
	  	 	30	  
	 Section 2.12
	 	 Term Notes
	  	 	30	  
	 Section 2.13
	 	 Reductions of the Term Loan Commitments
	  	 	30	  
	 Section 2.14
	 	 [Reserved]
	  	 	31	  
	 Section 2.15
	 	 [Reserved]
	  	 	31	  
	 Section 2.16
	 	 [Reserved]
	  	 	31	  
	 Section 2.17
	 	 [Reserved]
	  	 	31	  
	 Section 2.18
	 	 Funds Transfer Disbursements
	  	 	31	  
	
	ARTICLE III	  
	
	PAYMENTS, FEES AND OTHER GENERAL PROVISIONS	  
			
	 Section 3.1
	 	 Payments
	  	 	31	  
	 Section 3.2
	 	 Pro Rata Treatment
	  	 	32	  
	 Section 3.3
	 	 Sharing of Payments, Etc.
	  	 	32	  
	 Section 3.4
	 	 Several Obligations
	  	 	32	  
	 Section 3.5
	 	 Fees
	  	 	32	  
	 Section 3.6
	 	 Computations
	  	 	33	  
	 Section 3.7
	 	 Usury
	  	 	33	  
	 Section 3.8
	 	 [Reserved]
	  	 	33	  
	 Section 3.9
	 	 Defaulting Lenders
	  	 	33	  
	 Section 3.10
	 	 Taxes
	  	 	35	  

  
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	 	 	 	  	Page	 
	
	ARTICLE IV	  
	
	[RESERVED]	  
	
	ARTICLE V	  
	
	YIELD PROTECTION, ETC.	  
			
	 Section 5.1
	 	 Additional Costs; Capital Adequacy
	  	 	38	  
	 Section 5.2
	 	 Suspension of LIBOR Loans
	  	 	39	  
	 Section 5.3
	 	 Illegality
	  	 	40	  
	 Section 5.4
	 	 Compensation
	  	 	40	  
	 Section 5.5
	 	 Treatment of Affected Loans
	  	 	40	  
	 Section 5.6
	 	 Affected Lenders
	  	 	41	  
	 Section 5.7
	 	 Change of Lending Office
	  	 	41	  
	
	ARTICLE VI	  
	
	CONDITIONS PRECEDENT	  
			
	 Section 6.1
	 	 Agreement Date
	  	 	41	  
	 Section 6.2
	 	 Conditions Precedent to Funding of Term Loan
	  	 	42	  
	
	ARTICLE VII	  
	
	REPRESENTATIONS AND WARRANTIES	  
			
	 Section 7.1
	 	 Representations and Warranties
	  	 	44	  
	 Section 7.2
	 	 Survival of Representations and Warranties, Etc.
	  	 	49	  
	
	ARTICLE VIII	  
	
	AFFIRMATIVE COVENANTS	  
			
	 Section 8.1
	 	 Preservation of Existence and Similar Matters
	  	 	50	  
	 Section 8.2
	 	 Compliance with Applicable Law
	  	 	50	  
	 Section 8.3
	 	 Maintenance of Property
	  	 	50	  
	 Section 8.4
	 	 Conduct of Business
	  	 	50	  
	 Section 8.5
	 	 Insurance
	  	 	50	  
	 Section 8.6
	 	 Payment of Taxes and Claims
	  	 	51	  
	 Section 8.7
	 	 Books and Records; Inspections
	  	 	51	  
	 Section 8.8
	 	 Use of Proceeds
	  	 	51	  
	 Section 8.9
	 	 Environmental Matters
	  	 	52	  
	 Section 8.10
	 	 Broker-Dealer Subsidiaries
	  	 	52	  
	 Section 8.11
	 	 [Reserved]
	  	 	52	  
	 Section 8.12
	 	 REIT Status
	  	 	52	  
	 Section 8.13
	 	 Exchange Listing
	  	 	52	  
	 Section 8.14
	 	 Guarantors
	  	 	52	  
	 Section 8.15
	 	 Further Assurances; Additional Security
	  	 	53	  
	 Section 8.16
	 	 Removal of Designated Eligible Properties – Borrower
	  	 	53	  
	 Section 8.17
	 	 Removal of Designated Eligible Properties – Administrative Agent
	  	 	54	  
	 Section 8.18
	 	 Additional Designated Eligible Properties
	  	 	54	  
	 Section 8.19
	 	 [Reserved]
	  	 	55	  
	 Section 8.20
	 	 Collateral Reinstatement
	  	 	55	  

  
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	 	 	 	  	Page	 
	
	ARTICLE IX	  
	
	INFORMATION	  
			
	 Section 9.1
	 	 Quarterly Financial Statements
	  	 	55	  
	 Section 9.2
	 	 Year End Statements
	  	 	55	  
	 Section 9.3
	 	 Compliance Certificate; Designated Eligible Property Certificate
	  	 	55	  
	 Section 9.4
	 	 Other Information
	  	 	56	  
	 Section 9.5
	 	 Electronic Delivery of Certain Information
	  	 	57	  
	 Section 9.6
	 	 Public/Private Information
	  	 	57	  
	 Section 9.7
	 	 USA Patriot Act Notice; Compliance
	  	 	57	  
	
	ARTICLE X	  
	
	NEGATIVE COVENANTS	  
			
	 Section 10.1
	 	 Financial Covenants
	  	 	58	  
	 Section 10.2
	 	 Liens; Negative Pledge
	  	 	59	  
	 Section 10.3
	 	 Restrictions on Intercompany Transfers
	  	 	60	  
	 Section 10.4
	 	 Merger, Consolidation, Sales of Assets and Other Arrangements
	  	 	60	  
	 Section 10.5
	 	 Plans
	  	 	61	  
	 Section 10.6
	 	 Fiscal Year
	  	 	61	  
	 Section 10.7
	 	 Modifications of Organizational Documents
	  	 	61	  
	 Section 10.8
	 	 Permitted Investments
	  	 	61	  
	 Section 10.9
	 	 Transactions with Affiliates
	  	 	62	  
	 Section 10.10
	 	 [Reserved]
	  	 	62	  
	 Section 10.11
	 	 Dividends and Other Restricted Payments
	  	 	62	  
	
	ARTICLE XI	  
	
	DEFAULT	  
			
	 Section 11.1
	 	 Events of Default
	  	 	63	  
	 Section 11.2
	 	 Remedies Upon Event of Default
	  	 	65	  
	 Section 11.3
	 	 Right to Cure
	  	 	66	  
	 Section 11.4
	 	 Marshaling; Payments Set Aside
	  	 	66	  
	 Section 11.5
	 	 Allocation of Proceeds
	  	 	67	  
	 Section 11.6
	 	 [Reserved]
	  	 	67	  
	 Section 11.7
	 	 Rescission of Acceleration by Requisite Lenders
	  	 	67	  
	 Section 11.8
	 	 Performance by Administrative Agent
	  	 	67	  
	 Section 11.9
	 	 Rights Cumulative
	  	 	68	  
	
	ARTICLE XII	  
	
	THE ADMINISTRATIVE AGENT	  
			
	 Section 12.1
	 	 Appointment and Authorization
	  	 	69	  
	 Section 12.2
	 	 JPMorgan as Lender
	  	 	70	  
	 Section 12.3
	 	 Approvals of Lenders
	  	 	70	  
	 Section 12.4
	 	 Notice of Events of Default
	  	 	70	  
	 Section 12.5
	 	 Administrative Agent’s Reliance
	  	 	70	  
	 Section 12.6
	 	 Indemnification of Administrative Agent
	  	 	71	  
	 Section 12.7
	 	 Lender Credit Decision, Etc.
	  	 	72	  
	 Section 12.8
	 	 Successor Administrative Agent
	  	 	72	  
	 Section 12.9
	 	 Titled Persons
	  	 	73	  
	 Section 12.10
	 	 Agent Under Collateral Documents
	  	 	73	  

  
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	 	 	 	  	Page	 
	
	ARTICLE XIII	  
	
	MISCELLANEOUS	  
			
	 Section 13.1
	 	 Notices
	  	 	74	  
	 Section 13.2
	 	 Expenses
	  	 	75	  
	 Section 13.3
	 	 Setoff
	  	 	76	  
	 Section 13.4
	 	 Litigation; Jurisdiction; Other Matters; Waivers
	  	 	76	  
	 Section 13.5
	 	 Successors and Assigns
	  	 	77	  
	 Section 13.6
	 	 Amendments and Waivers
	  	 	80	  
	 Section 13.7
	 	 Nonliability of Administrative Agent and Lenders
	  	 	82	  
	 Section 13.8
	 	 Confidentiality
	  	 	83	  
	 Section 13.9
	 	 Indemnification
	  	 	83	  
	 Section 13.10
	 	 Termination; Survival
	  	 	84	  
	 Section 13.11
	 	 Severability of Provisions
	  	 	84	  
	 Section 13.12
	 	 GOVERNING LAW
	  	 	85	  
	 Section 13.13
	 	 Counterparts
	  	 	85	  
	 Section 13.14
	 	 No Advisory or Fiduciary Relationship
	  	 	85	  
	 Section 13.15
	 	 Obligations with Respect to Loan Parties and Subsidiaries
	  	 	85	  
	 Section 13.16
	 	 Independence of Covenants
	  	 	85	  
	 Section 13.17
	 	 Limitation of Liability
	  	 	86	  
	 Section 13.18
	 	 Entire Agreement
	  	 	86	  
	 Section 13.19
	 	 Construction
	  	 	86	  
	 Section 13.20
	 	 Headings
	  	 	86	  
	 Section 13.21
	 	 Release of Liens
	  	 	86	  
	 Section 13.22
	 	 Acknowledgement and Consent to Bail-In of EEA Financial Institutions
	  	 	86	  

 SCHEDULES AND EXHIBITS 
  

			
	SCHEDULE I	  	Commitments
	SCHEDULE 1.1(a)	  	List of Loan Parties
	SCHEDULE 1.1(b)	  	Specified Ground Leases
	SCHEDULE 1.1(c)	  	Managed REITs
	SCHEDULE 1.1(d)	  	Permitted Liens
	SCHEDULE 1.1(e)	  	[Reserved]
	SCHEDULE 7.1(b)	  	Ownership Structure
	SCHEDULE 7.1(i)	  	Litigation
	SCHEDULE 8.14	  	Certain Indebtedness
	SCHEDULE 10.2	  	Existing Negative Pledges
	SCHEDULE 10.3	  	Existing Restrictions on Intercompany Transfers
	SCHEDULE 10.9	  	Existing Affiliate Transactions
		
	EXHIBIT A	  	Form of Assignment and Assumption Agreement
	EXHIBIT B	  	[Reserved]
	EXHIBIT C	  	[Reserved]
	EXHIBIT D	  	[Reserved]
	EXHIBIT E	  	[Reserved]
	EXHIBIT F	  	Form of Guaranty
	EXHIBIT G	  	Form of Notice of Borrowing
	EXHIBIT H	  	Form of Notice of Continuation
	EXHIBIT I	  	Form of Notice of Conversion
	EXHIBIT J	  	Form of Solvency Certificate

  
 -iv- 

			
	EXHIBIT K	  	Form of Designated Eligible Property Certificate
	EXHIBIT L	  	Form of Pledge Agreement
	EXHIBIT M	  	Form of Term Note
	EXHIBIT N	  	[Reserved]
	EXHIBIT O	  	[Reserved]
	EXHIBIT P	  	[Reserved]
	EXHIBIT Q-1	  	Form of U.S. Tax Compliance Certificate for Foreign Lenders That Are Not Partnerships for U.S. Federal Income Tax Purposes
	EXHIBIT Q-2	  	Form of U.S. Tax Compliance Certificate for Foreign Participants That Are Not Partnerships for U.S. Federal Income Tax Purposes
	EXHIBIT Q-3	  	Form of U.S. Tax Compliance Certificate for Foreign Participants That Are Partnerships for U.S. Federal Income Tax Purposes
	EXHIBIT Q-4	  	Form of U.S. Tax Compliance Certificate for Foreign Lenders That Are Partnerships for U.S. Federal Income Tax Purposes
	EXHIBIT R	  	Form of Compliance Certificate

  
 -v- 

 THIS CREDIT AGREEMENT (this “Agreement”) dated as of June 2, 2016 by and
among VEREIT OPERATING PARTNERSHIP, L.P., a limited partnership formed under the laws of the State of Delaware (the “Borrower”), VEREIT, INC., a corporation incorporated under the laws of the State of Maryland (the
“Parent”), each of the financial institutions from time to time party hereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the “Administrative Agent”), with JPMORGAN CHASE BANK, N.A. and BARCLAYS BANK
PLC, as Joint Lead Arrangers and Joint Bookrunners (in such capacities, the “Arrangers” and each, an “Arranger”). 

WHEREAS, the Parent, the Borrower, the Lenders and the Administrative Agent have agreed to enter into this Agreement in order to set forth the
terms and conditions under which the Lenders will make loans to or for the benefit of the Borrower. 
 WHEREAS, the Lenders desire to make
available to the Borrower a term loan credit facility in the initial principal amount of $300 million on the terms and conditions contained herein. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the
parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Section
1.1 Definitions. 
 In addition to terms defined elsewhere herein, the following terms shall have the following meanings for the
purposes of this Agreement: 
 “Accession Agreement” means an Accession Agreement substantially in the form of Annex I to
the Guaranty. 
 “Acquisition” means any transaction or series of related transactions constituting (a) an acquisition by a
Person of any real property or (b) any acquisition by any Person of all or substantially all of the Equity Interests, assets or any combination thereof of (including any merger or consolidation with and into) any other Person the core assets of
which constitute real property assets or other assets that are reasonably ancillary thereto (including any fee-based businesses). 

“Additional Collateral” has the meaning given that term in Section 11.3(a). 

“Additional Costs” has the meaning given that term in Section 5.1(b). 

“Adjusted EBITDA” means, for any given period, (a) the EBITDA of the Parent and its Subsidiaries determined on a consolidated
basis for such period minus (b) Reserves for Replacements for such period. 
 “Adjusted LIBOR Rate” means, with respect to
any LIBOR Loan for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) LIBOR for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” means JPMorgan, including its branches and affiliates, as contractual representative of the Lenders
under this Agreement, or any successor Administrative Agent appointed pursuant to Section 12.8. 
 “Administrative
Questionnaire” means the Administrative Questionnaire completed by each Lender and delivered to the Administrative Agent in a form supplied by the Administrative Agent to the Lenders from time to time. 

 “Affected Lender” has the meaning given that term in Section 5.6. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. In no event shall the Administrative Agent or any Lender be deemed to be an Affiliate of the Borrower or the Parent. 

“Agency Fee Letter” means that certain Administrative Agent Fee Letter dated May 5, 2016 among the Borrower, the Parent
and the Administrative Agent. 
 “Agreement” has the meaning set forth in the introductory paragraph hereto. 

“Agreement Date” means the date as of which this Agreement is dated. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Parent or its
Subsidiaries from time to time concerning or relating to bribery or corruption, including, without limitation, the Foreign Corrupt Practices Act and the UK Bribery Act (each as in effect from time to time). 

“Applicable Law” means all (a) international, foreign, federal, state and local statutes, treaties, rules, guidelines,
regulations, ordinances, codes, executive orders, (b) administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or
administration thereof, and (c) all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case of clauses (b) and (c), to the extent having
the force of law. 
 “Applicable Margin” means the percentage rate set forth in the table below corresponding to the level
(each a “Level”) into which the Borrower’s Credit Rating then falls. As of the Agreement Date, the Applicable Margin is determined based on Level IV. Any change in the Borrower’s Credit Rating which would cause it to
move to a different Level shall be effective as of the first day of the first calendar month immediately following receipt by the Administrative Agent of written notice delivered by the Borrower in accordance with Section 9.4(m) that the
Borrower’s Credit Rating has changed; provided, however, if the Borrower has not delivered the notice required by such Section but the Administrative Agent becomes aware that the Borrower’s Credit Rating has changed, then the
Administrative Agent may, in its sole discretion, adjust the Level effective as of the first day of the first calendar month following the date the Administrative Agent becomes aware that the Borrower’s Credit Rating has changed. During any
period that the Borrower has two Credit Ratings that are not equivalent, the Applicable Margin will be determined based on the higher Credit Rating. In the event that the Borrower has two Credit Ratings that are two Levels apart, the Level
corresponding to the midpoint shall apply, and in the event that the Credit Ratings are more than two Levels apart, the Level that is two Levels below the higher of the two Credit Ratings shall apply. During any period for which the Borrower has
received a Credit Rating from only one Rating Agency, then the Applicable Margin shall be determined based on such Credit Rating. During any period that the Borrower has not received a Credit Rating from any Rating Agency, the Applicable Margin
shall be determined based on Level IV. 
  

											
	 Level
	  	 Credit Rating
	  	Applicable Margin
for LIBOR Loans	 	 	Applicable Margin
for Base Rate Loans	 
	 I
	  	BBB+/Baa1 (or higher)	  	 	1.15	% 	 	 	0.15	% 
	 II
	  	BBB/Baa2	  	 	1.30	% 	 	 	0.30	% 
	 III
	  	BBB-/Baa3	  	 	1.60	% 	 	 	0.60	% 
	 IV
	  	BB+/Bal (or lower)	  	 	2.05	% 	 	 	1.05	% 

 “Approved Fund” means any Fund that is administered, managed or underwritten by (a) a Lender,
(b) an Affiliate of a Lender, or (c) an entity or an Affiliate of any entity that administers or manages a Lender. 

  
 -2- 

 “Arrangers” means JPMorgan and Barclays Bank PLC in their capacities as joint
lead arrangers and joint bookrunners. 
 “Assignment and Assumption” means an Assignment and Assumption entered into by a
Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 13.5), and accepted by the Administrative Agent, in substantially the form of Exhibit A or any other form approved by the Administrative Agent. 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in
respect of any liability of an EEA Financial Institution. 
 “Bail-In Legislation” means, with respect to any EEA Member
Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule. 
 “Bankruptcy Code” means the Bankruptcy Code of 1978, as amended. 

“Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in
effect on such day, (b) the NYFRB Rate in effect on such day plus  1⁄2 of 1% and (c) the Adjusted LIBOR Rate for a one month Interest Period on such
day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided that, the Adjusted LIBOR Rate for any day shall be based on the LIBOR at approximately 11:00 a.m. London time on such day. Any change in
the Base Rate due to a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted LIBOR Rate, respectively. 

“Base Rate Loan” means a Term Loan (or any portion thereof) bearing interest at a rate based on the Base Rate. 

“Benefit Arrangement” means at any time an employee benefit plan within the meaning of Section 3(3) of ERISA which is not a
Plan or a Multiemployer Plan and which is maintained or otherwise contributed to by any member of the ERISA Group on behalf of employees of the Parent, the Borrower or any Subsidiary of the Parent. 

“Board” means the Board of Governors of the Federal Reserve System of the United States of America. 

“Borrower” has the meaning set forth in the introductory paragraph hereof and shall include the Borrower’s successors
and permitted assigns. 
 “Broker-Dealer Subsidiary” means any Subsidiary of the Parent that (a) is a “registered
broker and/or dealer” under the Securities Exchange Act or under any similar foreign law or regulatory regime established for the registration of brokers and/or dealers of securities and/or (b) is required to be registered under the Commodity
Exchange Act or under any similar regulatory regime established for the registration of operators, merchants, brokers and/or dealers of commodities, including, but not limited to, future commissions merchants, introducing brokers and commodity pool
operators. 
 “Business Day” means any day (other than a Saturday, Sunday or legal holiday) on which banks in
New York, New York are open for the conduct of their commercial banking business; provided that, when used in connection with a LIBOR Loan or any Base Rate Loan as to which the interest rate is determined by reference to LIBOR, the term
“Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market. Unless specifically referenced in this Agreement as a Business Day, all references to “days”
shall be to calendar days. 
 “Canadian Dollars” means the lawful currency of Canada. 

“Capitalization Rate” means 7.0%. 

  
 -3- 

 “Capitalized Lease Obligations” means obligations under a lease (or other
arrangement conveying the right to use property) to pay rent or other amounts that are required to be capitalized for financial reporting purposes in accordance with GAAP. The amount of a Capitalized Lease Obligation is the capitalized amount of
such obligation as would be required to be reflected on a balance sheet of the applicable Person prepared in accordance with GAAP as of the applicable date. 

“Cash Equivalents” means: (a) securities issued, guaranteed or insured by the United States of America or any of its agencies
with maturities of not more than one year from the date acquired; (b) certificates of deposit with maturities of not more than one year from the date acquired issued by a United States federal or state chartered commercial bank of recognized
standing, or a commercial bank organized under the laws of any other country which is a member of the Organisation for Economic Cooperation and Development, or a political subdivision of any such country, acting through a branch or agency, which
bank has capital and unimpaired surplus in excess of $500,000,000 and which bank or its holding company has a short term commercial paper rating of at least A-2 or the equivalent by S&P or at least P-2 or the equivalent by Moody’s; (c)
reverse repurchase agreements with terms of not more than seven (7) days from the date acquired, for securities of the type described in clause (a) above and entered into only with commercial banks having the qualifications described in clause (b)
above; (d) commercial paper issued by any Person incorporated under the laws of the United States of America or any State thereof and rated at least A-2 or the equivalent thereof by S&P or at least P-2 or the equivalent thereof by Moody’s,
in each case with maturities of not more than one year from the date acquired; (e) investments in money market funds registered under the Investment Company Act of 1940, as amended, which have net assets of at least $500,000,000 and at least 85% of
whose assets consist of securities and other obligations of the type described in clauses (a) through (d) above and (f) other similar customarily utilized investments of substantially similar quality (as determined in good faith by the Borrower)
denominated in Foreign Currencies; provided that for purposes of Section 10.1 and 10.8 (and any definitions used therein) (i) amounts attributable to Cash Equivalents of the type described in this clause (f) shall be reduced by the amount (if
any) of adverse tax consequences for the Parent or any of its Subsidiaries that would result if such investments were to be repatriated to the United States (as determined by the Borrower in good faith) and (ii) in no event shall the aggregate
Dollar Amount of Cash Equivalents attributable to Cash Equivalents that are subject to reduction under clause (f)(i) exceed $10,000,000 at any time. 

“Change of Control” means the occurrence of any event described in Section 11.1(l). 

“Charges” has the meaning set forth in Section 3.7. 

“Collateral” means all the “Collateral” and “Pledged Collateral” (or equivalent terms) as defined in any
Collateral Document and any and all other property, now existing or hereafter acquired, that may at any time be or become subject (or purported to be subject) to a security interest or Lien to secure the Obligations. 

“Collateral Documents” means, collectively, the Pledge Agreement and all other agreements, instruments and documents executed
by the Parent or any of its Subsidiaries in connection with this Agreement that are intended to create, perfect or evidence Liens to secure the Obligations, including, without limitation, all other security agreements and pledge agreements now or
hereafter executed by the Borrower or any of its Subsidiaries and delivered to the Administrative Agent. 
 “Collateral
Reinstatement Date” has the meaning set forth in Section 8.20. 
 “Collateral Suspension Period” means the period
of time beginning upon the occurrence of a Ratings Upgrade and ending upon the occurrence of a Ratings Downgrade. 

“Commitment” means, as to a Lender, such Lender’s Term Loan Commitment. 

“Commitment Reduction Notice” has the meaning given that term in Section 2.13(b). 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.) as amended from time to
time, and any successor statute. 

  
 -4- 

 “Compliance Certificate” has the meaning given that term in Section 9.3. 

“Continue,” “Continuation” and “Continued” each refers to the continuation of a LIBOR Loan
from one Interest Period to another Interest Period pursuant to Section 2.10. 
 “Control” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and
“Controlled” have meanings correlative thereto. 
 “Convert,” “Conversion” and
“Converted” each refers to the conversion of a Loan of one Type into a Loan of another Type pursuant to Section 2.11 or as required by Section 2.10 or 5.2. 

“Credit Event” means the making (or deemed making in accordance with the provisions of this Agreement) of any Loan. 

“Credit Rating” means the rating assigned by a Rating Agency (which, solely for the purposes of the definition of Investment
Grade Rating, shall also include Fitch) to the senior unsecured long term Indebtedness of a Person. 
 “Cure Period” shall
have the meaning given that term in Section 11.3(a). 
 “Cure Right” shall have the meaning given that term in Section
11.3(a). 
 “Debtor Relief Laws” means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar Applicable Laws relating to the relief of debtors in the United States of America or other applicable jurisdictions from time to
time in effect. 
 “Default” means any of the events specified in Section 11.1, whether or not there has been satisfied any
requirement for the giving of notice, the lapse of time, or both. 
 “Defaulting Lender” means, subject to
Section 3.9(f), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent
and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically
identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within two (2) Business Days of the date when due, (b) has notified the
Borrower or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation
to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such
writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will
comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the
Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee
for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or
(iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof
by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States of America or from the enforcement of judgments or writs of attachment on
its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, 

  
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disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses
(a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 3.9(f)) upon delivery of written notice of such determination to the Borrower and each
Lender. 
 “Derivatives Contract” means (a) any transaction (including any master agreement, confirmation or other
agreement with respect to any such transaction) now existing or hereafter entered into by the Parent, the Borrower or any of their respective Subsidiaries (i) which is a rate swap transaction, swap option, basis swap, forward rate transaction,
commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, currency swap transaction,
cross-currency rate swap transaction, currency option, credit protection transaction, credit swap, credit default swap, credit default option, total return swap, credit spread transaction, repurchase transaction, reverse repurchase transaction,
buy/sell-back transaction, securities lending transaction, weather index transaction or forward purchase or sale of a security, commodity or other financial instrument or interest (including any option with respect to any of these transactions) or
(ii) which is a type of transaction that is similar to any transaction referred to in clause (i) above that is currently, or in the future becomes, recurrently entered into in the financial markets (including terms and conditions incorporated by
reference in such agreement) and which is a forward, swap, future, option or other derivative on one or more rates, currencies, commodities, equity securities or other equity instruments, debt securities or other debt instruments, economic indices
or measures of economic risk or value, or other benchmarks against which payments or deliveries are to be made, and (b) any combination of these transactions, but excluding, in each case, for the avoidance of doubt, any conversion option embedded in
any convertible debt security issued by the Parent or any Subsidiary thereof. 
 “Derivatives Termination Value” means, in
respect of any one or more Derivatives Contracts, after taking into account the effect of any contractual netting agreement or provision relating thereto, (a) for any date on or after the date such Derivatives Contracts have been terminated or
closed out, the termination amount or value determined in accordance therewith, and (b) for any date prior to the date such Derivatives Contracts have been terminated or closed out, the then-current mark-to-market value for such Derivatives
Contracts, determined based upon one or more mid-market quotations or estimates provided by any recognized dealer in Derivatives Contracts. 

“Designated Eligible Property” means each Property which satisfies all of the following requirements: (a) such Property
is a retail, office or industrial Property; (b) such Property is owned in fee simple, or leased under a Ground Lease, by the Borrower or a Wholly Owned Subsidiary 100% of the Equity Interests of which have been pledged as Collateral; (c) such
Property is located in a State or territory of the United States of America, Canada or in the District of Columbia; (d) regardless of whether such Property is owned by the Borrower or a Subsidiary, the Borrower has the right, directly, or indirectly
through a Subsidiary, to take the following actions without the need to obtain the consent of any Person: (i) to create Liens on such Property as security for Indebtedness of the Borrower or such Subsidiary, as applicable and (ii) to sell, transfer
or otherwise dispose of such Property; (e) neither such Property, nor if such Property is owned by a Subsidiary, any of the Borrower’s direct or indirect ownership interest in such Subsidiary is subject to (i) any Lien other than Permitted
Liens (but not Permitted Liens described in clause (g) of the definition of that term) or (ii) any Negative Pledge; (f) such Property is not a Development Property; (g) such Property is, to the knowledge of the Borrower, free of all structural
defects or major architectural deficiencies, title defects, environmental conditions or other adverse matters, except for defects, deficiencies, conditions or other matters, individually or collectively, which are not material to the profitable
operation of such Property and (h) the Occupancy Rate of such Property equals or exceeds 80%. Notwithstanding the foregoing, for purposes of determining Designated Eligible Property Adjusted NOI, (i) to the extent the amount of Designated Eligible
Property Adjusted NOI attributable to (A) Properties leased under Ground Leases would exceed 5% of Designated Eligible Property Adjusted NOI, such excess shall be excluded, (B) Properties that are restaurant properties would exceed 30% of Designated
Eligible Property Adjusted NOI, such excess shall be excluded, (C) Properties that are office properties would exceed 25% of the Designated Eligible Property Adjusted NOI, such excess shall be excluded, (D) Properties leased to tenants with Credit
Ratings that are not Investment Grade Ratings would exceed 65%, such excess shall be excluded, (E) Properties that are leased to the same tenant would exceed 10% of the Designated Eligible Property Adjusted NOI, such excess shall be excluded, (F)
Properties that are industrial or logistics properties would exceed 25% of the Designated Eligible Property Adjusted NOI, such excess shall be excluded, (G) a single Property would exceed 10% of the Designated Eligible Property Adjusted NOI, such
excess shall be excluded and (H) Properties leased to tenants that have “gone dark” or are delinquent in lease payments 

  
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would exceed 5% of the Designated Eligible Property Adjusted NOI, such excess shall be excluded and (ii) the weighted average remaining lease term of all Properties included in such calculation
shall be greater than or equal to six years. 
 “Designated Eligible Property Adjusted NOI” means, for any period,
(a) NOI from all Designated Eligible Properties, minus (b) with respect to each Designated Eligible Property, the greater of (i) the actual property management fee paid during such period with respect to such Designated
Eligible Property and (ii) an imputed management fee in the amount of 1% per annum on the aggregate base rent and percentage rent due and payable under leases at such Designated Eligible Property for such period. Notwithstanding anything to the
contrary in the foregoing, if NOI from any Designated Eligible Property is less than zero, then Designated Eligible Property Adjusted NOI with respect to such Designated Eligible Property shall be deemed to be zero for purposes of this Agreement.

 “Designated Eligible Property Asset Value” means the quotient of (i) the Designated Eligible Property Adjusted NOI from
all Designated Eligible Properties divided by (ii) the Capitalization Rate. 
 “Designated Eligible Property Certificate”
means a certificate substantially in the form of Exhibit K hereto. 
 “Development Property” means a Property
currently under development that has not achieved an Occupancy Rate of 80% or more or, subject to the last sentence of this definition, on which the improvements (other than tenant improvements on unoccupied space) related to the development have
not been substantially completed such that occupancy is not viable. The term “Development Property” shall include real property of the type described in the immediately preceding sentence that satisfies both of the following conditions:
(i) it is to be (but has not yet been) acquired by the Parent, the Borrower, any Subsidiary or any Unconsolidated Affiliate upon completion of construction pursuant to a contract in which the seller of such real property is required to develop or
renovate such real property prior to, and as a condition precedent to, such acquisition and (ii) a third party is developing such property using the proceeds of a loan that constitutes Recourse Indebtedness of the Parent, the Borrower, any
Subsidiary or any Unconsolidated Affiliate. A Development Property on which all improvements (other than tenant improvements on unoccupied space) related to the development of such Property have been completed for at least one hundred eighty (180)
days shall cease to constitute a Development Property notwithstanding the fact that such Property has not achieved an Occupancy Rate of at least 80%. 

“Disposition” has the meaning provided in Section 10.4. 

“Disqualified Institutions” means competitors of the Borrower and Affiliates of such competitors, in each case identified by
the Borrower to the Administrative Agent in writing (including by email communication) on or prior to the Effective Date and as may be otherwise identified by the Borrower to the Administrative Agent (and consented to by the Administrative Agent,
such consent not to be unreasonably withheld, conditioned or delayed) in writing from time to time (but no such identification shall apply retroactively to Persons that already acquired and continue to hold (or have and remain committed to acquire,
without giving retroactive effect to any such commitment) an assignment or participation interest); provided that upon inquiry by any Lender to the Administrative Agent as to whether a specified potential assignee or prospective participant
is on the list of Disqualified Institutions, the Administrative Agent may disclose to such Lender whether such specific potential assignee or prospective participant is on the list of Disqualified Institutions. 

“Dollar Amount” of any currency at any date means (i) the amount of such currency if such currency is Dollars or (ii) the
equivalent amount thereof in Dollars if such currency is a Foreign Currency, calculated on the basis of the Exchange Rate for such currency. 

“Dollars” or “$” means the lawful currency of the United States of America. 

“EBITDA” means, with respect to a Person for any period and without duplication, the sum of (a) net income (loss) of
such Person for such period determined on a consolidated basis excluding the following (but only to the extent included in determining net income (loss) for such period): (i) depreciation and amortization;

  
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(ii) interest expense; (iii) income tax expense; (iv) extraordinary or nonrecurring items, including without limitation, gains and losses from the sale of operating Properties (but not from
the sale of Properties developed for the purpose of sale); (v) other non-cash charges for such period (except to the extent that such non-cash charges are reserved for cash charges to be taken in the future) and (vi) equity in net income (loss)
of its Unconsolidated Affiliates plus (b) such Person’s Ownership Share of EBITDA of its Unconsolidated Affiliates. EBITDA shall be adjusted to remove any impact from straight line rent leveling adjustments required under GAAP and
amortization of intangibles pursuant to FASB ASC 805. For purposes of this definition, nonrecurring items shall be deemed to include for the applicable period, without limitation but without duplication, (v) all commissions, guaranty fees, discounts
and other fees and charges owed by such Person with respect to letters of credit and bankers’ acceptance financing and net costs of such Person under Derivatives Contracts in respect of interest rates to the extent such net costs are allocable
to such period in accordance with GAAP, (w) fees, expenses and charges incurred during such period directly relating to the negotiation of and entry into (A) the Loan Documents and any amendments to the Loan Documents or any agreement entered into
in connection therewith or (B) any other agreement governing any Indebtedness issued or incurred or proposed to be issued or incurred by the Parent or its Subsidiaries, (x) gains and losses on early extinguishment of Indebtedness, (y) non-cash
severance and other non-cash restructuring charges and (z) transaction costs of acquisitions (whether or not consummated) not permitted to be capitalized pursuant to GAAP. 

“EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which
is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA
Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent; 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

“EEA Resolution Authority” means any public administrative authority or any person entrusted with public administrative
authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” means the date on which the Term Loans are funded upon the satisfaction (or waiver in accordance with
Section 13.6) of the conditions specified in Section 6.2. 
 “Eligible Assignee” means (a) a Lender, (b) an
Affiliate of a Lender, (c) an Approved Fund and (d) any other Person (other than a natural person) approved by the Administrative Agent (such approval not to be unreasonably withheld or delayed) and such other parties whose consent is required under
Section 13.5(b)(iii). No Disqualified Institution shall be an Eligible Assignee. 
 “Eligible Property” means a Property
which satisfies all of the following requirements: (a) such Property is a retail, office or industrial Property; (b) such Property is wholly owned in fee simple, or leased under a Ground Lease, by the Borrower or a Wholly Owned Subsidiary; (c) such
Property is located in a State or territory of the United States of America, in the District of Columbia or in Canada; (d) regardless of whether such Property is owned by the Borrower or a Subsidiary, the Borrower has the right directly, or
indirectly through a Subsidiary, to take the following actions without the need to obtain the consent of any Person: (i) to create Liens on such Property as security for Indebtedness of the Borrower or such Subsidiary, as applicable, and (ii) to
sell, transfer or otherwise dispose of such Property; (e) neither such Property, nor if such Property is owned by a Subsidiary, any of the Borrower’s direct or indirect ownership interest in such Subsidiary, is subject to (i) any Lien other
than Permitted Liens (but not Permitted Liens described in clause (g) of the definition of that term) or (ii) any Negative Pledge; (f) such Property is not a Development Property; (g) such Property is, to the Borrower’s knowledge, free of all
structural defects or major architectural deficiencies, title defects, environmental conditions or other adverse matters except for defects, deficiencies, conditions or other matters individually or collectively which are not material to the
profitable operation of such Property; and (h) the Occupancy Rate of such Property equals or exceeds 80%. 
 “Environmental
Claims” means any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, accusations, allegations, notices of noncompliance or violation, investigations (other

  
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than internal reports prepared by any Person in the ordinary course of business and not in response to any third party action or request of any kind) or proceedings relating in any way to any
actual or alleged violation of or liability under any Environmental Law or relating to any permit issued, or any approval given, under any such Environmental Law, including, without limitation, any and all claims by Governmental Authorities for
enforcement, cleanup, removal, response, remedial or other actions or damages, contribution, indemnification cost recovery, compensation or injunctive relief resulting from Hazardous Materials or arising from alleged injury or threat of injury to
human health (with respect to exposure to Hazardous Materials) or the environment. 
 “Environmental Laws” means any
Applicable Law relating to environmental protection or the manufacture, storage, remediation, disposal or clean-up of Hazardous Materials including, without limitation, the following: Clean Air Act, 42 U.S.C. § 7401 et seq.; Federal
Water Pollution Control Act, 33 U.S.C. § 1251 et seq.; Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et seq.; Comprehensive Environmental Response, Compensation and
Liability Act, 42 U.S.C. § 9601 et seq.; National Environmental Policy Act, 42 U.S.C. § 4321 et seq.; any applicable rule of common law and any judicial interpretation thereof relating primarily to the environment or
Hazardous Materials, and any analogous or comparable state or local laws, regulations or ordinances that concern Hazardous Materials or protection of the environment. 

“Equity Interest” means, with respect to any Person, any share of capital stock of (or other ownership or profit interests
in) such Person, any warrant, option or other right for the purchase or other acquisition from such Person of any share of capital stock of (or other ownership or profit interests in) such Person, whether or not certificated, any security
convertible into or exchangeable for any share of capital stock of (or other ownership or profit interests in) such Person or warrant, right or option for the purchase or other acquisition from such Person of such shares (or such other interests),
and any other ownership or profit interest in such Person (including, without limitation, partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such share, warrant, option, right or other interest is
authorized or otherwise existing on any date of determination. 
 “ERISA” means the Employee Retirement Income Security Act
of 1974, as in effect from time to time. 
 “ERISA Event” means, with respect to the ERISA Group, (a) any “reportable
event” as defined in Section 4043 of ERISA with respect to a Plan (other than an event for which the thirty (30) day notice period is waived); (b) the withdrawal of a member of the ERISA Group from a Plan subject to Section 4063 of
ERISA during a plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) the incurrence by a member of
the ERISA Group of any liability with respect to the withdrawal or partial withdrawal from any Multiemployer Plan; (d) the incurrence by any member of the ERISA Group of any liability under Title IV of ERISA with respect to the termination of
any Plan or Multiemployer Plan; (e) the institution of proceedings to terminate a Plan or Multiemployer Plan by the PBGC; (f) the failure by any member of the ERISA Group to make when due required contributions to a Multiemployer Plan or Plan
unless such failure is cured within thirty (30) days or the filing pursuant to Section 412(c) of the Internal Revenue Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard; (g) any other event
or condition that could reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or Multiemployer Plan or the imposition of liability on any member of
the ERISA Group under Section 4069 or 4212(c) of ERISA; (h) the receipt by any member of the ERISA Group of any notice or the receipt by any Multiemployer Plan from any member of the ERISA Group of any notice, concerning the imposition of
Withdrawal Liability or a determination that a Multiemployer Plan is, or is reasonably expected to be, insolvent (within the meaning of Section 4245 of ERISA), in reorganization (within the meaning of Section 4241 of ERISA), or in
“critical” status (within the meaning of Section 432 of the Internal Revenue Code or Section 305 of ERISA); (i) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under
Section 4007 of ERISA, upon any member of the ERISA Group or the imposition of any Lien upon any member of the ERISA Group in favor of the PBGC under Title IV of ERISA; or (j) a determination that a Plan is, or is reasonably expected to be, in
“at risk” status (within the meaning of Section 430 of the Internal Revenue Code or Section 303 of ERISA). 
 “ERISA
Group” means the Parent, the Borrower, any Subsidiary of the Parent and all members of a controlled group of corporations and all trades or businesses (whether or not incorporated) under common control, which, together with the Parent, the
Borrower or any Subsidiary of the Parent, are treated as a single employer under Section 414 of the Internal Revenue Code. 

  
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 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule
published by the Loan Market Association (or any successor person), as in effect from time to time. 
 “Event of Default”
means any of the events specified in Section 11.1, provided that any requirement for notice or lapse of time or any other condition has been satisfied. 

“Exchange Act” has the meaning provided in Section 11.1(l)(i). 

“Exchange Rate” means, on any day, with respect to any Foreign Currency, the rate at which such Foreign Currency may be
exchanged into Dollars, as set forth at approximately 11:00 a.m., Local Time, on such date on the Reuters World Currency Page for such Foreign Currency. In the event that such rate does not appear on any Reuters World Currency Page, the Exchange
Rate with respect to such Foreign Currency shall be determined by reference to such other publicly available service for displaying exchange rates as may be reasonably selected by the Administrative Agent or, in the event no such service is
selected, such Exchange Rate shall instead be calculated on the basis of the arithmetical mean of the buy and sell spot rates of exchange of the Administrative Agent for such Foreign Currency on the London market at 11:00 a.m., Local Time, on such
date for the purchase of Dollars with such Foreign Currency, for delivery two Business Days later; provided, that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent, after
consultation with the Borrower, may use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest error. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or
deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (or any franchise or similar Taxes in lieu thereof, however denominated) and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being
organized under the laws of, or having its principal office or, in the case of any Lender, its applicable Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes,
(b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to an Applicable Law in effect on the date on which
(i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 5.6) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to
Section 3.10, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to
such Recipient’s failure to comply with Section 3.10(g) and (d) any U.S. federal withholding Taxes imposed under FATCA. 

“Existing Credit Agreement” means that certain Amended and Restated Credit Agreement dated as of June 30, 2014, by and among
the Borrower, the Parent, the financial institutions from time to time party thereto and Wells Fargo Bank, National Association, as administrative agent (as amended, restated, supplemented or otherwise modified from time to time). 

“Existing Notes Refinancing” has the meaning assigned thereto in Section 8.8. 

“Fair Market Value” means, (a) with respect to a security listed on a national securities exchange or the NASDAQ National
Market, the price of such security as reported on such exchange or market by any widely recognized reporting method customarily relied upon by financial institutions and (b) with respect to any other property, the price which could be negotiated in
an arm’s-length free market transaction, for cash, between a willing seller and a willing buyer, neither of which is under pressure or compulsion to complete the transaction. Except as otherwise provided herein, Fair Market Value shall be
determined by the Board of Directors of the Parent (or an authorized committee thereof) acting in good faith conclusively evidenced by a board resolution thereof delivered to the Administrative Agent or, with respect to any asset valued at no more
than $5,000,000, such determination may be made by the chief financial officer of the Parent evidenced by an officer’s certificate delivered to the Administrative Agent. 

  
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 “FASB” means the the Financial Accounting Standards Board. 

“FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board. 

“FATCA” means Sections 1471 through 1474 of the Internal Revenue Code, as of the date of this Agreement (or any amended or
successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the
Internal Revenue Code. 
 “Federal Funds Rate” means, for any day, the rate calculated by the NYFRB based on such
day’s federal funds transactions by depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the federal funds
effective rate. 
 “Fee Letter” means that certain fee letter dated as of May 5, 2016 by and among the Borrower, the
Parent and the Arrangers. 
 “Fees” means the fees and commissions provided for or referred to in Section 3.5 and any other
fees payable by the Borrower hereunder or under any other Loan Document. 
 “Fitch” means Fitch Ratings, Ltd. and its
successors. 
 “Fixed Charges” means, with respect to a Person and for a given period, the sum of (a) the Interest Expense
of such Person for such period, plus (b) the aggregate of all regularly scheduled principal payments on Indebtedness payable by such Person during such period (excluding balloon, bullet or similar payments of principal due upon the stated
maturity of Indebtedness), plus (c) the aggregate amount of all Preferred Dividends paid in cash by such Person during such period. The Parent’s Ownership Share of the Fixed Charges of its Unconsolidated Affiliates will be included when
determining the Fixed Charges of the Parent. 
 “Foreign Currencies” means (i) euros, (ii) Pounds Sterling, (iii) Canadian
Dollars, and (iv) any other Foreign Currency agreed to by the Administrative Agent that is (x) lawful currency that is readily available and freely transferable and convertible into Dollars and (y) available in the London interbank deposit market.

 “Foreign Lender” means a Lender that is not a U.S. Person. 

“Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or
otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (including Statement of Financial Accounting Standards No. 168, “The FASB
Accounting Standards Codification”) or in such other statements by such other entity as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of
determination, consistently applied; provided that any obligation of a Person under a lease (whether existing now or entered into in the future) that is not (or would not be) required to be classified and accounted for as a capital lease on a
balance sheet of such Person under GAAP as in effect on the Effective Date shall not be required to be treated as a capital lease as a result of the adoption of future changes, if any, in GAAP. 

“Governmental Approvals” means all authorizations, consents, approvals, licenses and exemptions of, registrations and filings
with, and reports required by Applicable Law to, all Governmental Authorities. 
 “Governmental Authority” means any
national, state or local government (whether domestic or foreign), any political subdivision thereof or any other governmental, judicial, administrative, public or statutory 

  
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instrumentality, authority, body, agency, bureau, commission, board, department or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative power or
functions or pertaining to government (including, without limitation, the Federal Deposit Insurance Corporation, the Comptroller of the Currency or the Federal Reserve Board, any central bank or any comparable authority, and any supranational bodies
such as the European Union or the European Central Bank) or, with respect to any specified Person, any arbitrator or any quasi-governmental authority, body or agency with authority to bind such specified Person at law. 

“Grantor” means each Subsidiary of Parent that grants a Lien on or security interest in any Collateral pursuant to a
Collateral Document. 
 “Ground Lease” means (a) a ground lease containing the following terms and conditions: (i) a
remaining term (exclusive of any unexercised extension options) of 35 years or more from the Agreement Date; (ii) the right of the lessee to mortgage and encumber its interest in the leased property without the consent of the lessor; (iii) the
obligation of the lessor to give the holder of any mortgage Lien on such leased property written notice of any defaults on the part of the lessee and agreement of such lessor that such lease will not be terminated until such holder has had a
reasonable opportunity to cure or complete foreclosures, and fails to do so; (iv) reasonable transferability of the lessee’s interest under such lease, including ability to sublease; and (v) such other rights customarily required by mortgagees
making a loan secured by the interest of the holder of the leasehold estate demised pursuant to a ground lease; and (b) certain other ground leases set forth on Schedule 1.1(b). 

“Guarantor” means any Parent Guarantor and any Subsidiary Guarantor. 

“Guaranty,” “Guaranteed” or to “Guarantee” as applied to any obligation means and includes:
(a) a guaranty (other than by endorsement of negotiable instruments for collection in the ordinary course of business), directly or indirectly, in any manner, of any part or all of such obligation, or (b) an agreement, direct or indirect,
contingent or otherwise, and whether or not constituting a guaranty, the practical effect of which is to assure the payment or performance (or payment of damages in the event of nonperformance) of any part or all of such obligation whether by: (i)
the purchase of securities or obligations, (ii) the purchase, sale or lease (as lessee or lessor) of property or the purchase or sale of services primarily for the purpose of enabling the obligor with respect to such obligation to make any payment
or performance (or payment of damages in the event of nonperformance) of or on account of any part or all of such obligation, or to assure the owner of such obligation against loss, (iii) the supplying of funds to or in any other manner investing in
the obligor with respect to such obligation, (iv) repayment of amounts drawn down by beneficiaries of letters of credit, or (v) the supplying of funds to or investing in a Person on account of all or any part of such Person’s obligation under a
guaranty of any obligation or indemnifying or holding harmless, in any way, such Person against any part or all of such obligation. As the context requires, “Guaranty” shall also mean a guaranty executed and delivered pursuant to Section
6.1 or 8.14 and substantially in the form of Exhibit F. 
 “Hazardous Materials” means all or any of the following: (a)
substances that are defined or listed in, or otherwise classified pursuant to, any applicable Environmental Laws as “hazardous substances,” “hazardous materials,” “hazardous wastes,” “toxic substances” or any
other formulation intended to define, list or classify substances by reason of deleterious properties such as ignitability, corrosivity, reactivity, carcinogenicity, reproductive toxicity, “TCLP” toxicity, or “EP toxicity”; (b)
oil, petroleum or petroleum derived substances, natural gas, natural gas liquids or synthetic gas and drilling fluids, produced waters and other wastes associated with the exploration, development or production of crude oil, natural gas or
geothermal resources; (c) any flammable substances or explosives or any radioactive materials; (d) asbestos in any form; (e) toxic mold; and (f) electrical equipment which contains any oil or dielectric fluid containing levels of polychlorinated
biphenyls in excess of fifty parts per million. 
 “Indebtedness” means, with respect to a Person, at the time of
computation thereof, all of the following (without duplication): (a) all obligations of such Person in respect of money borrowed; (b) all obligations for the deferred purchase price of property or services (other than trade accounts payable in
the ordinary course of business and, in each case, either (i) not past due for more than one hundred and eighty (180) days or (ii) being contested in good faith by appropriate proceedings diligently conducted); (c) all obligations of such
Person (other than trade accounts payable), whether or not for money borrowed (i) represented by notes payable, or drafts accepted, in each case representing extensions of credit, (ii) evidenced by bonds, debentures, notes or similar instruments, or

  
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(iii) constituting purchase money indebtedness, conditional sales contracts, title retention debt instruments or other similar instruments, upon which interest charges are customarily paid
or that are issued or assumed as full or partial payment for property or for services rendered; (d) Capitalized Lease Obligations of such Person; (e) all reimbursement obligations (contingent or otherwise) of such Person under or in respect of
any letters of credit or acceptances (whether or not the same have been presented for payment); (f) all Off-Balance Sheet Obligations of such Person; (g) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any
payment in respect of any Mandatorily Redeemable Stock issued by such Person, valued at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; (h) to the extent required by GAAP, all obligations of such
Person in respect of any purchase obligation, repurchase obligation, takeout commitment or forward equity commitment, in each case evidenced by a binding agreement (excluding any such obligation to the extent the obligation can be satisfied by the
issuance of Equity Interests (other than Mandatorily Redeemable Stock)); (i) net obligations under any Derivatives Contract (which shall be deemed to have an amount equal to the Derivatives Termination Value thereof at such time but in no event
shall be less than zero); and (j) all Indebtedness of the type referred to in clauses (a) through (i) of other Persons which such Person has Guaranteed or otherwise constitutes Recourse Indebtedness to such Person or (k) all Indebtedness of another
Person secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property or assets owned by such Person, even though such Person has not assumed or become liable for the
payment of such Indebtedness or other payment obligation, limited to the lesser of (i) the Fair Market Value of the property or assets subject to such Lien and (ii) the aggregate amount of the Indebtedness so secured; and (l) such Person’s
Ownership Share of the Indebtedness of any Unconsolidated Affiliate of such Person. Indebtedness of any Person shall include Indebtedness of any partnership or joint venture in which such Person is a general partner or joint venturer to the extent
of such Person’s Ownership Share of such partnership or joint venture (except if such Indebtedness, or portion thereof, constitute Recourse Indebtedness of such Person, in which case the greater of such Person’s Ownership Share of such
Indebtedness or the amount of the portion of such Indebtedness that constitutes Recourse Indebtedness, shall be included as Indebtedness of such Person). 

“Indemnifiable Amounts” has the meaning provided in Section 12.6. 

“Indemnified Party” has the meaning provided in Section 13.9(a). 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of the Borrower or any other Loan Party under any Loan Document and (b) to the extent not otherwise described in the immediately preceding clause (a), Other Taxes. 

“Indemnity Proceeding” has the meaning provided in Section 13.9(a). 

“Information” has the meaning provided in Section 13.8. 

“Intellectual Property” has the meaning given that term in Section 7.1(r). 

“Interest Expense” means, for any period, without duplication, (a) total interest expense of the Parent, including
capitalized interest not funded under a construction loan interest reserve account (but excluding non-cash amortization or write-off of debt issuance costs and commissions), determined on a consolidated basis in accordance with GAAP for such period,
plus (b) the Parent’s Ownership Share of Interest Expense of Unconsolidated Affiliates for such period. 
 “Interest
Period” means with respect to each LIBOR Loan, each period commencing on the date such LIBOR Loan is made, or in the case of the Continuation of a LIBOR Loan, the last day of the preceding Interest Period for such Loan, and ending on the
numerically corresponding day in the first, third or sixth calendar month thereafter, as the Borrower may select in a Notice of Borrowing, Notice of Continuation or Notice of Conversion, as the case may be, except that each Interest Period that
commences on the last Business Day of a calendar month (or on any day for which there is no numerically corresponding day in the appropriate subsequent calendar month) shall end on the last Business Day of the appropriate subsequent calendar month.
In addition to the foregoing periods, the Borrower may request Interest Periods for LIBOR Loans having durations of at least seven (7), but not more than thirty (30), days no more than five times during any 12-month period beginning during the term
of this Agreement but only in anticipation of (i) the Borrower’s prepayment of such LIBOR Loans under Section 2.9 or (ii) 

  
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Continuation of such LIBOR Loans under Section 2.10 or any other modification of this Agreement. Notwithstanding the foregoing: (a) if any Interest Period for Term Loans would otherwise
end after the Term Loan Maturity Date, such Interest Period shall end on the Term Loan Maturity Date and (b) each Interest Period that would otherwise end on a day which is not a Business Day shall end on the immediately following Business Day (or,
if such immediately following Business Day falls in the next calendar month, on the immediately preceding Business Day). 

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

“Investment” means, with respect to any Person, any acquisition or investment (whether or not of a controlling interest) by
such Person, by means of any of the following: (a) the purchase or other acquisition of any Equity Interest in another Person, (b) a loan, advance or extension of credit to, capital contribution to, Guaranty of Indebtedness of, or purchase or other
acquisition of any Indebtedness of, another Person, including any partnership or joint venture interest in such other Person, (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that
constitute the business or a division or operating unit of another Person or (d) an Acquisition. Any unconditional commitment to make an Investment in any other Person, as well as any unconditional option of another Person to require an Investment
in such Person, shall constitute an Investment. Except as expressly provided otherwise, for purposes of determining compliance with any covenant contained in the Loan Documents, the amount of any Investment shall be the amount actually invested,
without adjustment for subsequent increases or decreases in the value of such Investment. 
 “Investment Grade Rating”
means a rating of (a) BBB- or higher from S&P, (b) Baa3 or higher from Moody’s or (c) BBB- or higher from Fitch. 

“JPMorgan” means JPMorgan Chase Bank, N.A. 

“Lender” means each financial institution from time to time party hereto as a “Lender” together with its respective
successors and permitted assigns. 
 “Lender Parties” means the holders of the Obligations from time to time and shall
include the Administrative Agent, the Lenders, each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 12.5, any other holder from time to time of any of any Obligations and, in each case, their
respective successors and permitted assigns. 
 “Lending Office” means, for each Lender and for each Type of Loan, the
office of such Lender specified in such Lender’s Administrative Questionnaire or in the applicable Assignment and Assumption, or such other office of such Lender as such Lender may notify the Administrative Agent in writing from time to time.

 “Level” has the meaning given that term in the definition of the term “Applicable Margin.” 

“LIBO Screen Rate” means, for any day and time, for any Interest Period, the London interbank offered rate as administered by
ICE Benchmark Administration (or any other Person that takes over the administration of such rate for a period equal in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays
such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from
time to time as selected by the Administrative Agent in its reasonable discretion) provided that if the LIBO Screen Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. 

“LIBOR” means, with respect to any LIBOR Loan for any Interest Period, the LIBO Screen Rate. 

“LIBOR Loan” means a Term Loan (or any portion thereof) (other than a Base Rate Loan) bearing interest at a rate based on the
Adjusted LIBOR Rate. 

  
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 “Lien” as applied to the property of any Person means any security interest,
encumbrance, mortgage, deed to secure debt, deed of trust, assignment of leases and rents, pledge, lien, hypothecation, assignment, charge or lease constituting a Capitalized Lease Obligation, conditional sale or other title retention agreement, or
other security title or encumbrance of any kind in respect of any property of such Person, or upon the income, rents or profits therefrom. 

“Loan” means a Term Loan. 

“Loan Document” means this Agreement, each Term Note, the Guaranty, the Collateral Documents, the Agency Fee Letter, the Fee
Letter and each other document or instrument now or hereafter executed and delivered by a Loan Party in connection with, pursuant to or relating to this Agreement. 

“Loan Party” means each of the Borrower, the Grantors and the Guarantors. Schedule 1.1(a) sets forth the Loan Parties in
addition to the Borrower as of the Agreement Date. 
 “Local Time” means (a) with respect to currency denominated in
Dollars, New York City time, (b) with respect to Foreign Currency denominated in Canadian Dollars, Toronto time, (c) with respect to Foreign Currency denominated in euros or Pounds Sterling, London time or (d) with respect to any other Foreign
Currency, local time in such foreign jurisdiction (it being understood that such local time shall mean London time unless otherwise notified by the Administrative Agent). 

“Managed REIT” means a real estate investment trust managed or advised by the Parent or a Subsidiary and listed on
Schedule 1.1(c) (as the same may be updated from time to time by the Parent or the Borrower in writing to the Administrative Agent). 

“Management Contract” means a management contract or advisory agreement under which the Parent or one of its Subsidiaries
provides management and advisory services to a third party, consisting of management of properties or provision of advisory services on property acquisition and dispositions, equity and debt placements and related transactional matters. 

“Management EBITDA” means, for any period, an amount equal to (a) the aggregate sum of revenues for such period earned by the
Parent and its Subsidiaries from Private Capital Management Business, including asset management revenue, performance revenue, structuring revenue, advisor’s participation in cash flow (if any), interest income, advisory and dealer manager fees
and compensation or any revenue earned as stipulated in a Management Contract and booked for financial reporting purposes, together with appropriate adjustments for minority interests and excluding revenue related to reimbursed costs but including
distributions received for such period related to the ownership of shares in managed funds and Managed REITs, minus (b) operating expenses and other costs of the Parent and its Subsidiaries (including, without limitation, all general and
administrative expenses, but excluding costs incurred on behalf of the Parent to the extent such costs have been reimbursed) arising from the Private Capital Management Business for such period. 

“Mandatorily Redeemable Stock” means, with respect to any Person, any Equity Interest of such Person which by the terms of
such Equity Interest (or by the terms of any security into which it is convertible or for which it is exchangeable or exercisable), upon the happening of any event or otherwise, (a) matures or is mandatorily redeemable, pursuant to a sinking fund
obligation or otherwise (other than an Equity Interest to the extent redeemable in exchange for common stock or other “qualified” Equity Interests at the option of the issuer of such Equity Interest), (b) is convertible into or
exchangeable or exercisable for Indebtedness or Mandatorily Redeemable Stock, or (c) is redeemable at the option of the holder thereof, in whole or in part (other than an Equity Interest which is redeemable solely in exchange for common stock
or other “qualified” Equity Interests); in each case, on or prior to the Term Loan Maturity Date. 
 “Material Adverse
Effect” means (a) a material adverse change in, or a material adverse effect upon, the business, assets, operations, or financial condition of the Parent and its Subsidiaries, taken as a whole; (b) a material impairment of the ability
of the Borrower and the Guarantors, taken as a whole, to perform their obligations under the Loan Documents; or (c) a material adverse effect upon the legality, validity, binding effect, or enforceability against the Borrower or any Guarantor of any
Loan Document to which it is a party. 

  
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 “Material Indebtedness” has the meaning provided in Section 11.1(d)(i).

 “Maximum Loan to Designated Eligible Property Asset Value Ratio” has the meaning given to such term in Section 10.1(h).

 “Maximum Rate” has the meaning given that term in Section 3.7. 

“Minimum Designated Eligible Property Debt Yield” has the meaning given such term in Section 10.1(i). 

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

“Mortgage” means a mortgage, deed of trust, deed to secure debt or similar security instrument made by a Person owning an
interest in real estate granting a Lien on such interest in real estate as security for the payment of Indebtedness. 
 “Mortgage
Receivable” means a promissory note secured by a Mortgage of which the Parent, the Borrower or a Subsidiary of the Parent is the holder and retains the rights of collection of all payments thereunder. 

“Multiemployer Plan” means at any time a multiemployer plan within the meaning of Section 4001(a)(3) of ERISA to which any
member of the ERISA Group is then making or accruing an obligation to make contributions or has within the preceding six plan years made contributions, including for these purposes any Person which ceased to be a member of the ERISA Group during
such six-year period, but in the case of any such plan maintained or contributed to by a Person that has ceased to be a member of the ERISA Group (and not by any Person that is a current member of the ERISA Group), only if a current member of the
ERISA Group could reasonably be expected to have any material liability with respect to such plan. 
 “Negative Pledge”
means, with respect to a given asset, any provision of a document, instrument or agreement (other than any Loan Document) which prohibits or purports to prohibit the creation of any Lien on such asset as security for Indebtedness of the Person
owning such asset or any other Person; provided, however, that an agreement that conditions a Person’s ability to encumber its assets upon the maintenance of one or more specified ratios that limit such Person’s ability to
encumber its assets but that do not generally prohibit the encumbrance of its assets, or the encumbrance of specific assets, shall not constitute a Negative Pledge. 

“Net Operating Income” or “NOI” means, for any Property and for a given period, the sum of the following
(without duplication): (a) rents and other revenues received in the ordinary course from such Property (including proceeds of rent loss or business interruption insurance but excluding pre-paid rents and revenues and security deposits except to the
extent applied in satisfaction of tenants’ obligations for rent) minus (b) all expenses paid (excluding interest but including an appropriate accrual for property taxes and insurance) related to the ownership, operation or maintenance of such
Property, including but not limited to property taxes, assessments and the like, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses, and general and administrative expenses (but specifically
excluding general overhead expenses of the Parent and its Subsidiaries and any property management fees). 
 “Non-Consenting
Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all Lenders, all Lenders of a facility or all affected Lenders in accordance with the terms of Section 13.6 and (b) has been
approved by the Requisite Lenders. 
 “Nonrecourse Indebtedness” means, with respect to a Person, Indebtedness for borrowed
money in respect of which recourse for payment (except for customary exceptions for fraud, misapplication of funds, environmental indemnities, prohibited transfers, voluntary bankruptcy, collusive involuntary bankruptcy and other similar customary
exceptions to nonrecourse liability) is contractually limited to specific assets of such Person encumbered by a Lien securing such Indebtedness. 

  
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 “Notice of Borrowing” means a notice substantially in the form of Exhibit G (or
such other form reasonably acceptable to the Administrative Agent and containing the information required in such Exhibit) to be delivered to the Administrative Agent pursuant to Section 2.2(b) evidencing the Borrower’s request for a
borrowing of Term Loans. 
 “Notice of Continuation” means a notice substantially in the form of Exhibit H to be delivered
to the Administrative Agent pursuant to Section 2.10 evidencing the Borrower’s request for the Continuation of a LIBOR Loan. 

“Notice of Conversion” means a notice substantially in the form of Exhibit I (or such other form reasonably acceptable to the
Administrative Agent and containing the information required in such Exhibit) to be delivered to the Administrative Agent pursuant to Section 2.11 evidencing the Borrower’s request for the Conversion of a Loan from one Type to another
Type. 
 “Notice of Intent to Cure” means a certificate of a Responsible Officer of the Parent or the Borrower delivered to
the Administrative Agent, with respect to any period for which a Cure Right will be exercised pursuant to Section 11.3, on the earlier of the date the financial statements required under Section 9.1 or 9.2 were delivered or were required to be
delivered with respect to the most recent end of such period, which certificate shall contain a computation of the applicable Event of Default and notice of intent to cure such Event of Default as contemplated in Section 11.3. 

“NYFRB” means the Federal Reserve Bank of New York. 

“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Rate in effect on such day and (b) the Overnight Bank
Funding Rate in effect on such day (or for any day that is not a Banking Day, for the immediately preceding Banking Day); provided that if none of such rates are published for any day that is a Business Day, the term “NYFRB Rate”
means the rate for a federal funds transaction quoted at 11:00 a.m. on such day received by the Administrative Agent from a Federal funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid
rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 
 “Obligations” means,
individually and collectively: (a) the aggregate principal balance of, and all accrued and unpaid interest on, all Loans and (b) all other indebtedness, liabilities, obligations, covenants and duties of the Borrower and the other Loan Parties owing
to the Administrative Agent or any Lender of every kind, nature and description, under this Agreement or any of the other Loan Documents or in respect of any Loan, including, without limitation, the Fees and indemnification obligations, whether
direct or indirect, absolute or contingent, due or not due, contractual or tortious, liquidated or unliquidated, and whether or not evidenced by any promissory note, and all interest, fees and other amounts that, but for the filing of a petition in
bankruptcy against any Loan Party, would have accrued on any Obligations, whether or not a claim is allowed or allowable against such Loan Party for such interest, fees and other amounts in the related bankruptcy proceeding. 

“Occupancy Rate” means, with respect to a Property at any time, the ratio, expressed as a percentage, of (a) the net
rentable square footage of such Property actually occupied by tenants and upon which rent is paid, pursuant to binding leases as to which no monetary default has occurred and has continued unremedied for sixty (60) or more days to (b) the aggregate
net rentable square footage of such Property. 
 “OFAC” means the Office of Foreign Assets Control of the U.S. Department
of the Treasury. 
 “Off-Balance Sheet Obligations” means liabilities and obligations of the Parent, any Subsidiary or any
other Person in respect of “off-balance sheet arrangements” (as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated under the Securities Act) which the Parent would be required to disclose in the “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” section of the Parent’s report on Form 10-Q or Form 10-K (or their equivalents) which the Parent is required to file with the SEC (or any Governmental Authority substituted
therefor). 

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

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 5.6). 

“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight LIBOR
borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an
overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate). 
 “Ownership
Share” means, with respect to any Subsidiary of a Person (other than a Wholly Owned Subsidiary) or any Unconsolidated Affiliate of a Person, the greater of (a) such Person’s relative nominal direct and indirect ownership interest
(expressed as a percentage) in such Subsidiary or Unconsolidated Affiliate or (b) such Person’s relative direct and indirect economic interest (calculated as a percentage) in such Subsidiary or Unconsolidated Affiliate determined in accordance
with the applicable provisions of the declaration of trust, articles or certificate of incorporation, articles of organization, partnership agreement, joint venture agreement or other applicable organizational document of such Subsidiary or
Unconsolidated Affiliate. 
 “Parent” means VEREIT, Inc., a Maryland corporation. 

“Parent Guarantor” means the Parent and any Subsidiary of the Parent owning any direct or indirect interest in the Borrower
that is party to the Guaranty as a “Guarantor.” 
 “Participant” has the meaning given that term in
Section 13.5(d). 
 “Participant Register” has the meaning given that term in Section 13.5(d). 

“Patriot Act” means The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)), as amended. 

“PBGC” means the Pension Benefit Guaranty Corporation and any successor agency. 

“Permitted Acquisition” means an Acquisition by the Parent or any Subsidiary of the Parent provided that: 

(i) no Default or Event of Default shall have occurred and be continuing both before and after giving effect to any such
Acquisition; 
 (ii) if such transaction is a merger or consolidation to which the Borrower or any Guarantor is a party, the
Borrower or such Guarantor shall be the surviving Person and no Change of Control shall have been effected thereby; and 

  
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 (iii) if the aggregate consideration paid in respect of such Acquisition
(including any Indebtedness assumed in connection therewith) exceeds $500,000,000, the following additional requirements shall also be satisfied: 

(w) with respect to any such Acquisition, no less than fifteen (15) Business Days prior to the proposed closing date of such
Acquisition, the Borrower shall have delivered written notice of such Acquisition to the Administrative Agent and the Lenders, which notice shall include the proposed closing date of such Acquisition; 

(x) the Borrower shall have certified on or before the closing date of such Acquisition, in writing and in a form reasonably
acceptable to the Administrative Agent, that such Acquisition has been approved by the board of directors (or equivalent governing body) of the Person to be acquired; 

(y) the Borrower shall have delivered to the Administrative Agent such documents reasonably requested by the Administrative
Agent or the Requisite Lenders (through the Administrative Agent) reasonably in advance of the proposed closing date of such Acquisition in respect thereof; and 

(z) with respect to any such Acquisition, no later than five (5) Business Days prior to the proposed closing date of such
Acquisition, the Borrower shall have delivered to the Administrative Agent a compliance certificate for the most recent fiscal quarter end preceding such Acquisition for which financial statements are available demonstrating, in form and substance
reasonably satisfactory to the Administrative Agent, compliance on a pro forma basis (as of the date of the Acquisition and after giving effect thereto and any Indebtedness incurred in connection therewith) with each of the financial covenants in
the Loan Documents. 
 “Permitted Liens” means, with respect to any asset or property of a Person, (a) Liens securing
taxes, assessments and other charges or levies imposed by any Governmental Authority (excluding any Lien imposed pursuant to any of the provisions of ERISA or pursuant to any Environmental Laws) which are not at the time required to be paid or
discharged under Section 8.6; (b) the claims of materialmen, mechanics, carriers, warehousemen or landlords for labor, materials, supplies or rentals incurred in the ordinary course of business, which, in each case, are not at the time required to
be paid or discharged under the applicable provisions of Section 8.6; (c) easements, rights-of-way, restrictions, restrictive covenants, encroachments, protrusions and other similar encumbrances affecting real property assets which do not materially
detract from the value of the property subject thereto or materially impair the intended use thereof in the business of such Person; (d) Liens consisting of deposits or pledges made, in the ordinary course of business, in connection with, or to
secure payment of, obligations under workers’ compensation, unemployment insurance or similar Applicable Laws; (e) the rights of tenants under leases and subleases which do not materially impair the intended use thereof in the business of such
Person; (f) Liens in favor of the Administrative Agent for its benefit and the benefit of the other Lender Parties to secure the Obligations; (g) Liens securing judgments to the extent not resulting in an Event of Default pursuant to Section
11.1(h); and (h) Liens listed on Schedule 1.1(d). 
 “Person” means any natural person, corporation, limited partnership,
general partnership, joint stock company, limited liability company, limited liability partnership, joint venture, association, company, trust, bank, trust company, land trust, business trust or other organization, whether or not a legal entity, or
any other nongovernmental entity, or any Governmental Authority. 
 “Plan” means at any time an employee pension benefit
plan (other than a Multiemployer Plan) which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Internal Revenue Code and either (a) is maintained, or contributed to, by any member of the ERISA Group
for employees of any member of the ERISA Group or (b) has at any time within the preceding six years been maintained, or contributed to, by any Person which was at such time a member of the ERISA Group for employees of any Person which was at such
time a member of the ERISA Group, but in the case of any such plan maintained or contributed to by a Person that has ceased to be a member of the ERISA Group (and not by any Person that is a current member of the ERISA Group), only if a current
member of the ERISA Group could reasonably be expected to have any material liability with respect to such plan. 

  
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 “Pledge Agreement” means that certain Pledge Agreement, substantially in the
form of Exhibit L or any other form reasonably acceptable to the Administrative Agent, to be dated as of the Effective Date, between VEREIT SPE Holdco and the Administrative Agent, and acknowledged by Parent and the Borrower. 

“Pledged Collateral” means all the “Pledged Collateral” as defined in the Pledge Agreement. 

“Post-Default Rate” means, in respect of any principal of any Loan, the rate otherwise applicable plus an additional two
percent (2.0)% per annum and with respect to any other Obligation, a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus two percent (2.0)%. 

“Pounds Sterling” means the lawful currency of the United Kingdom. 

“Preferred Dividends” means, for any period and without duplication, all Restricted Payments paid during such period on
Preferred Equity Interests issued by the Parent, the Borrower or any Subsidiary. Preferred Dividends shall not include dividends or distributions (a) paid or payable solely in Equity Interests (other than Mandatorily Redeemable Stock) payable to
holders of such class of Equity Interests, (b) paid or payable to the Parent, the Borrower or a Subsidiary, or (c) constituting or resulting in the redemption of Preferred Equity Interests, other than scheduled redemptions not constituting balloon,
bullet or similar redemptions in full. 
 “Preferred Equity Interests” means, with respect to any Person, Equity Interests
in such Person which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation or both. 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by the Administrative Agent as
its prime rate; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

“Principal Office” means the office of the Administrative Agent located at 10 South Dearborn, Floor L2S, Chicago, IL 60603,
or any other subsequent office that the Administrative Agent shall have specified as the Principal Office by written notice to the Borrower and the Lenders. 

“Private Capital Management Business” means the provision of management services under Management Contracts in connection
with the “Private Capital Management Business” of the Parent and its Subsidiaries. 
 “Pro Rata Share” means, as
to each Lender as of any date of determination, the ratio, expressed as a percentage of (a) (i) the amount of such Lender’s unused Term Loan Commitment plus (ii) the amount of such Lender’s outstanding Term Loans to (b) (i) the
aggregate amount of the unused Term Loan Commitments of all Lenders plus (ii) the aggregate amount of all outstanding Term Loans of all Lenders. 

“Projections” has the meaning given that term in Section 7.1(t). 

“Property” means a parcel (or group of related parcels) of real property developed (or to be developed) by the Parent, the
Borrower, any Subsidiary or any Unconsolidated Affiliate. 
 “Public-Sider” means a Lender whose representatives may trade
in securities of the Parent, the Borrower or their respective controlling Persons or Subsidiaries while in possession of the financial statements provided by the Parent and the Borrower under the terms of this Agreement. 

“Qualified Plan” means a Benefit Arrangement that is intended to be tax-qualified under Section 401(a) of the Internal
Revenue Code. 

  
 -20- 

 “Rating Agency” means S&P or Moody’s. 

“Ratings Downgrade” means any time during which the Borrower loses its Investment Grade Rating from any two of Fitch,
Moody’s and S&P, to the extent that such two rating agencies had previously given the Borrower a Ratings Upgrade resulting in a Collateral Suspension Period. 

“Ratings Upgrade” means any time during which the Borrower’s Credit Rating is an Investment Grade Rating from at least
two of Fitch, Moody’s and S&P. 
 “Recipient” means (a) the Administrative Agent and (b) any Lender, as
applicable. 
 “Recourse Indebtedness” means Indebtedness that is not Nonrecourse Indebtedness. 

“Register” has the meaning given that term in Section 13.5(c). 

“Regulatory Change” means, with respect to any Lender, any change effective after the Agreement Date in Applicable Law
(including without limitation, Regulation D of the Board of Governors of the Federal Reserve System) or the adoption or making after such date of any interpretation, directive or request applying to a class of banks, including such Lender, of or
under any Applicable Law by any Governmental Authority or monetary authority charged with the interpretation or administration thereof or compliance by any Lender with any request or directive regarding capital adequacy or liquidity. Notwithstanding
anything herein to the contrary, (a) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (b) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case
be deemed to be a “Regulatory Change,” regardless of the date enacted, adopted or issued. 
 “Regulatory Net
Capital” of any Person means (a) in the case such Person is a Broker-Dealer Subsidiary of the type described in clause (a) of the definition of “Broker-Dealer Subsidiary,” the then current minimum net capital such Person is
required to have and maintain pursuant to Rule 15c3-1 under the Securities Exchange Act and regulations promulgated thereunder (or under comparable statutes and regulations of the applicable jurisdiction) and (b) in the case such Person is a
Broker-Dealer Subsidiary of the type described in clause (b) of the definition of “Broker-Dealer Subsidiary,” the then current Adjusted Net Capital (as defined in the Commodity Futures Trading Commission (CFTC) Regulation 1.17) such Person
is required to have and maintain pursuant to applicable National Futures Association (NFA) financial requirements (or under comparable statutes and regulations of the applicable jurisdiction). 

“REIT” means a Person qualifying for treatment as a “real estate investment trust” under Section 856 of the
Internal Revenue Code. 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates and the
partners, shareholders, directors, officers, employees, agents, counsel, other advisors and representatives of such Person and of such Person’s Affiliates. 

“Release Conditions” has the meaning given that term in Section 8.16. 

“Release Request” has the meaning given that term in Section 8.16. 

“Requisite Lenders” means, as of any date, Term Loan Lenders having more than 50% of the sum of (a) the aggregate amount
of the unused Term Loan Commitments plus (b) the aggregate outstanding principal amount of the Term Loans; provided that (i) in determining such percentage at any given time, all then existing Defaulting Lenders will be disregarded and
excluded, and (ii) at all times when two or more Term Loan Lenders (excluding Defaulting Lenders) are party to this Agreement, the term “Requisite Lenders” shall in no event mean less than two Term Loan Lenders. 

  
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 “Responsible Officer” means with respect to the Parent, the Borrower or any
Subsidiary, the chief executive officer, president, the chief financial officer, chief accounting officer, treasurer, assistant treasurer and controller of the Parent, the Borrower or such Subsidiary. 

“Restricted Payment” means: (a) any dividend or other distribution, direct or indirect, on account of any Equity Interest of
the Parent or any of its Subsidiaries now or hereafter outstanding; (b) any redemption, conversion, exchange, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any Equity Interests of the
Parent or any of its Subsidiaries now or hereafter outstanding; and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire any Equity Interests of the Parent or any of its
Subsidiaries now or hereafter outstanding, in each case, except for a dividend or distribution payable or other payment made solely in (i) shares of that class of Equity Interests, (ii) shares in any other class of Equity Interests not constituting
Mandatorily Redeemable Stock, with terms that are not materially more favorable, taken as a whole and in the good faith determination of Borrower, than the Equity Interests with respect to which such dividend, distribution or other payment was made
or (iii) shares of any class of common Equity Interests. 
 “S&P” means Standard & Poor’s Ratings Services, a
Standard & Poor’s Financial Services LLC business, or any successor. 
 “Sanctioned Country” means, at any time, a
country, region or territory which is itself the subject or target of any Sanctions (at the time of this Agreement, Cuba, Iran, North Korea, Sudan, Syria and the Crimea region of Ukraine). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained
by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the European Union or any European Union member state, (b) any Person operating, organized or
resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b). 

“Sanctions” means the economic, financial or other sanctions laws, regulations or embargoes administered and enforced by:

 (a) the government of the United States of America; 

(b) the United Nations Security Council; 

(c) European Union; 

(d) the United Kingdom; or 

(e) the respective governmental institutions and agencies of any of the foregoing, including, without limitation, OFAC, the
United States Department of State and Her Majesty’s Treasury (“HMT”) in the United Kingdom 
 (each Person described in the foregoing
clauses (a) through (e), a “Sanctions Authority”). 
 “Sanctions Authority” has the meaning given
that term in the definition of “Sanctions.” 
 “Sanctions List” means the “Specially Designated Nationals
and Blocked Persons” list maintained by OFAC, the “Financial Sanctions: Consolidated List of Targets” and the “Investment Ban List” maintained by HMT, or any similar applicable list maintained by any Sanctions Authority, in
each case as amended, supplemented or substituted from time to time. 
 “SEC” means the Securities and Exchange Commission,
or any Governmental Authority succeeding to any of its principal functions. 

  
 -22- 

 “Secured Indebtedness” means, with respect to a Person as of a given date, the
aggregate principal amount of all Indebtedness of such Person outstanding on such date that is secured in any manner by any Lien on any property, and in the case of the Parent, shall include (without duplication), the Parent’s Ownership Share
of the Secured Indebtedness of its Unconsolidated Affiliates; provided, however, that any Indebtedness that is secured only by a pledge of Equity Interests shall be deemed to be Unsecured Indebtedness; provided, further,
that in no event shall the Obligations under (and as defined in) the Existing Credit Agreement constitute “Secured Indebtedness” as a result of any security interest granted to the administrative agent thereunder or the issuing bank
thereunder solely in the Letter of Credit Collateral Account (as defined in the Existing Credit Agreement). 
 “Securities
Act” means the Securities Act of 1933, as amended from time to time, together with all rules and regulations issued thereunder. 

“Senior Notes” means the Borrower’s 4.125% senior notes due 2021 and 4.875% senior notes due 2026. 

“Senior Notes due 2017” means the Borrower’s existing 2.00% Senior Notes due 2017. 

“Solvency Certificate” means the solvency certificate executed and delivered by a financial officer of the Parent on the
Effective Date, substantially in the form of Exhibit J or any other form reasonably acceptable to the Administrative Agent. 

“Solvent” means, when used with respect to any Person, that (a) the fair value of the property of such Person and such
Person’s Subsidiaries, on a consolidated basis, (including, for the avoidance of doubt, property consisting of the residual equity value of such Person’s Subsidiaries) is greater than the total amount of liabilities, including contingent
liabilities of such Person and such Person’s Subsidiaries, on a consolidated basis; (b) the present fair saleable value of the assets of such Person and such Person’s Subsidiaries, on a consolidated basis, (including, for the avoidance of
doubt, property consisting of the residual equity value of such Person’s Subsidiaries) is greater than the amount that will be required to pay the probable liability on a fair valuation of the total liabilities of such Person and such
Person’s Subsidiaries on the sum of its debts and other liabilities, including contingent liabilities; (c) such Person does not intend to, and does not believe (nor should it reasonably believe) that it or its Subsidiaries, on a consolidated
basis, will, incur debts or liabilities beyond the ability of such Person and such Person’s Subsidiaries, on a consolidated basis, to pay such debts and liabilities as they become due (whether at maturity or otherwise); (d) such Person and such
Person’s Subsidiaries, on a consolidated basis, do not have unreasonably small capital with which to conduct the businesses, in which such Person and such Person’s Subsidiaries are engaged as such businesses are now conducted (and
reflected in the financial projections) and are proposed to be conducted following the Effective Date; and (e) such Person and such Person’s Subsidiaries, on a consolidated basis, are able to pay the debts and liabilities, contingent
obligations and other commitments of such Person and such Person’s Subsidiaries, on a consolidated basis, as they mature in the ordinary course of business; provided that, for purposes of this definition, the amount of any contingent liability
or contingent obligation shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability and is reasonably
estimable. 
 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one
and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the Administrative
Agent is subject with respect to the Adjusted LIBOR Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentage shall include those imposed pursuant to such
Regulation D. LIBOR Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender
under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“Subsidiary” means, for any Person, any corporation, partnership, limited liability company or other entity of which at least
a majority of the Equity Interests having by the terms thereof ordinary voting power to elect a 

  
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majority of the board of directors or other individuals performing similar functions of such corporation, partnership, limited liability company or other entity (without regard to the occurrence
of any contingency) is at the time directly or indirectly owned or controlled by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person, and shall include all Persons the accounts of
which are consolidated with those of such Person pursuant to GAAP. 
 “Subsidiary Guarantor” means any Subsidiary of the
Parent that is not otherwise required to be a Parent Guarantor and Guarantees Indebtedness of the Borrower or any Guarantor, and that is party to the Guaranty as a “Guarantor.” 

“Tangible Net Worth” means, with respect to any Person as of a given date, the stockholders’ equity of such Person
determined on a consolidated basis, plus accumulated depreciation and amortization, minus (to the extent included when determining stockholders’ equity of such Person): (a) the amount of any write-up in the book value of any assets
reflected in any balance sheet resulting from revaluation thereof or any write-up in excess of the cost of such assets acquired, and (b) the aggregate of all amounts appearing on the assets side of any such balance sheet for franchises, licenses,
permits, patents, patent applications, copyrights, trademarks, service marks, trade names, goodwill, treasury stock, experimental or organizational expenses and other like assets which would be classified as intangible assets under GAAP (excluding
lease intangibles), all determined as of such date on a consolidated basis. 
 “Taxes” means all present or future taxes,
levies, imposts, duties, deductions, withholdings (including backup withholding), value added taxes, or any other goods and services, use or sales taxes, assessments, fees or other charges imposed by any Governmental Authority, including any
interest, additions to tax or penalties applicable thereto. 
 “Term Loan” means a loan made by a Term Loan Lender to the
Borrower pursuant to Section 2.2. 
 “Term Loan Availability Period” means the period commencing on the Agreement Date
and ending on July 15, 2016. 
 “Term Loan Commitment” means, as to each Term Loan Lender, such Lender’s
obligation to make Term Loans pursuant to Section 2.2, in an amount up to, but not exceeding, the amount set forth for such Lender on Schedule I as such Lender’s “Term Loan Commitment Amount.” 

“Term Loan Commitment Percentage” means, as to each Lender with a Term Loan Commitment, the ratio, expressed as a percentage,
of (a) the amount of such Lender’s Term Loan Commitment to (b) the aggregate amount of the Term Loan Commitments of all Term Loan Lenders. 

“Term Loan Lender” means a Lender having a Term Loan Commitment and/or holding a Term Loan. 

“Term Loan Maturity Date” means the date that is three years following the Effective Date. 

“Term Note” means a promissory note of the Borrower substantially in the form of Exhibit M, payable to the order of a
Term Loan Lender in a principal amount equal to the amount of such Term Loan Lender’s Term Loans. 
 “Termination
Date” means the date that all Obligations (excluding contingent indemnification obligations to the extent no unsatisfied claim giving rise thereto has been asserted) have been paid and satisfied in full and all Commitments have been
terminated. 
 “Titled Person” has the meaning given that term in Section 12.9. 

“Total Asset Value” means, at a given time, the sum (without duplication) of all of the following of the Parent and its
Subsidiaries determined on a consolidated basis: (a) calculated on a consolidated basis for the Parent and its Subsidiaries (other than broker-dealer subsidiaries) (i) cash and Cash Equivalents (other than tenant deposits

  
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and other cash and Cash Equivalents that are subject to a Lien or a Negative Pledge or the disposition of which is restricted in any way); plus (ii) with respect to all Properties owned
(or leased pursuant to a Ground Lease) by the Borrower or any Subsidiary for the 6-month period ending on such date of determination, the quotient of (A) Net Operating Income of the Parent and its Subsidiaries for the fiscal quarter most
recently ended multiplied by four (4), divided by (B) the Capitalization Rate; plus (iii) unless the Borrower shall have irrevocably elected to have such Property included in the calculation under clause (a)(ii) above, with respect to
any Property acquired during the 6-month period ending on such date of determination, the acquisition price paid for all such Properties; plus (iv) the undepreciated GAAP book value of all Development Properties; plus (v) the
acquisition price of Unimproved Land, less any GAAP impairment charges specific to any such asset; plus (vi) the acquisition price of all mortgage notes receivable and mezzanine loans, less any GAAP impairment charges specific to any such
asset; plus (vii) the GAAP book value of marketable securities of the Parent and its Subsidiaries, plus (viii) any asset value associated with amounts then constituting Indebtedness pursuant to clauses (b) and (h) of the
definition of Indebtedness (which asset value shall not exceed the corresponding amount of any such Indebtedness), plus (b) Management EBITDA for the immediately preceding period of four consecutive fiscal quarters multiplied by five (5). The
Borrower’s Ownership Share of assets held by Unconsolidated Affiliates (excluding assets of the type described in the immediately preceding clause (a)(i)) will be included in the calculation of Total Asset Value consistent with the above
described treatment for wholly owned assets. Net Operating Income attributable to (x) Properties acquired or disposed of during the fiscal quarter ending immediately prior to any date of determination of Total Asset Value or (y) Properties that
were Development Properties at the end of such fiscal quarter, shall not be included in the calculation of Total Asset Value. Notwithstanding the foregoing, for purposes of determining Total Asset Value, to the extent the amount of Total Asset Value
attributable to (A) Properties leased under Ground Leases would exceed 15% of Total Asset Value, such excess shall be excluded, (B) the amount under clause (b) above would exceed 5% of Total Asset Value, such excess shall be excluded and (C)
from and after the 12-month anniversary of the Effective Date, Properties that are restaurant properties would exceed 30% of Total Asset Value, such excess shall be excluded. 

“Total Budgeted Cost” means, with respect to a Development Property, and at any time, the aggregate amount of all costs
budgeted to be paid, incurred or otherwise expended or accrued by the Borrower, a Subsidiary or an Unconsolidated Affiliate with respect to such Property to cease to constitute a Development Property, including without limitation, all amounts
budgeted with respect to all of the following: (a) acquisition of land and any related improvements; (b) a reasonable and appropriate reserve for construction interest; (c) a reasonable and appropriate operating deficit reserve; (d) tenant
improvements (excluding any such costs to be reimbursed or paid directly by the tenant); (e) leasing commissions and (f) other hard and soft costs associated with the development or redevelopment of such Property, but in any such case, less any
costs that are contractually required to be reimbursed by any Person other than the Parent or any of its Subsidiaries. With respect to any Property to be developed in more than one phase, the Total Budgeted Cost shall exclude budgeted costs (other
than costs relating to acquisition of land and related improvements) to the extent relating to any phase for which (i) construction has not yet commenced and (ii) a binding construction contract has not been entered into by the Borrower, any other
Subsidiary or any Unconsolidated Affiliate, as the case may be. 
 “Total Indebtedness” means all Indebtedness of the
Parent and its Ownership Share of all Indebtedness of all Subsidiaries of the Parent. 
 “Transactions” means the funding
of the Term Loans, the offering of Senior Notes, the Existing Notes Refinancing and the transactions in connection therewith. 

“Type” with respect to any Term Loan, refers to whether such Loan or portion thereof is a LIBOR Loan or a Base Rate Loan.

 “Unconsolidated Affiliate” means, with respect to any Person, any Affiliate in whom such Person holds an Investment,
which Investment is accounted for in the financial statements of such Person on an equity basis of accounting and whose financial results would not be consolidated under GAAP with the financial results of such Person on the consolidated financial
statements of such Person. 
 “Unencumbered Adjusted NOI” means, for any period, (a) NOI from all Eligible Properties,
minus (b) with respect to each Eligible Property, the greater of (i) the actual property management fee paid during such period with respect to such Eligible Property and (ii) an imputed management fee in the amount of 1% per annum on
the aggregate base rent and percentage rent due and payable under leases at such Eligible Property for such period. 

  
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 “Unencumbered Asset Value” means, as of any date of determination, the sum,
without duplication, of (a)(i) with respect to all Eligible Properties owned (or leased pursuant to a Ground Lease) by the Borrower or any Subsidiary for the 6-month period ending on such date of determination, the quotient of (x) the
Unencumbered Adjusted NOI (excluding NOI attributable to Development Properties) for the fiscal quarter most recently ended multiplied by four (4), divided by (y) the Capitalization Rate, plus (ii) with respect to any Eligible Property
acquired during the 6-month period ending on such date of determination, the acquisition price paid for all such Eligible Properties which Eligible Properties are not subject to any Lien (other than Permitted Liens described in clauses (a)
through (f) of the definition thereof) or any Negative Pledge, plus (b) Unencumbered Management EBITDA for the immediately preceding period of four consecutive fiscal quarters multiplied by five (5), plus (c) calculated on
a consolidated basis for the Parent and its Subsidiaries (other than broker-dealer subsidiaries), cash and Cash Equivalents (other than tenant deposits and other cash and Cash Equivalents that are subject to a Lien or a Negative Pledge or the
disposition of which is restricted in any way). Notwithstanding the foregoing, for purposes of determining Unencumbered Asset Value, to the extent the amount of Unencumbered Asset Value attributable to (A) Properties leased under Ground
Leases would exceed 15% of Unencumbered Asset Value, such excess shall be excluded, (B) Properties located in Canada would exceed 5% of Unencumbered Asset Value, such excess shall be excluded, (C) the amount under clause (b) above would
exceed 10% (or, from and after the 18-month anniversary of the Effective Date, 5%) of Unencumbered Asset Value, such excess shall be excluded, (D) the amount under clause (c) above would exceed, without duplication, the sum of (i) 2.5% of
Unencumbered Asset Value plus (ii) up to $1.0 billion of cash and Cash Equivalents of the type described in clause (c) above solely to the extent the Borrower has reasonably designated such cash and Cash Equivalents as purchase price
consideration for a proposed Permitted Acquisition that is the subject of a binding purchase agreement, such excess shall be excluded, and (E) Properties that are restaurant properties would (i) exceed 40% of Unencumbered Asset Value at any time
during the period commencing on July 1, 2015 to and including June 29, 2016, (ii) exceed 35% of Unencumbered Asset Value at any time during the period commencing on June 30, 2016 to and including December 30, 2016 and (iii)
exceed 30% of Unencumbered Asset Value at any time commencing on December 31, 2016 and thereafter, such excess, in each case, shall be excluded. 

“Unencumbered Management EBITDA” means, for any period, Management EBITDA for such period generated by Persons whose assets
and equity interests are not subject to any Lien other than Permitted Liens described in clauses (a) through (f) of the definition thereof and buy sell rights with respect to Unconsolidated Affiliates on customary terms and conditions. 

“Unimproved Land” means land on which no development (other than improvements that are not material and are temporary in
nature) has occurred and for which no development is currently scheduled or in process. 
 “Unsecured Indebtedness” means,
with respect to a Person, Indebtedness of such Person that is not Secured Indebtedness; provided, however, that any Indebtedness that is secured only by a pledge of Equity Interests shall be deemed to be Unsecured Indebtedness. 

“Unsecured Interest Expense” means, with respect to a Person and for any period, all Interest Expense of such Person for such
period attributable to Unsecured Indebtedness of such Person. 
 “U.S. Person” means any Person that is a “United
States Person” as defined in Section 7701(a)(30) of the Internal Revenue Code. 
 “U.S. Tax Compliance
Certificate” has the meaning assigned to such term in Section 3.10(g)(ii)(B)(III). 
 “VEREIT SPE Holdco”
means VEREIT SPE Holdco, LLC, a limited liability company formed under the laws of the State of Delaware. 
 “Wholly Owned
Subsidiary” means any Subsidiary of a Person in respect of which all of the Equity Interests (other than, in the case of a corporation, directors’ qualifying shares) are at the time directly or indirectly owned or controlled by such
Person or one or more other Subsidiaries of such Person or by such Person and one or more other Subsidiaries of such Person. 

  
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 “Withdrawal Liability” means any liability as a result of a complete or partial
withdrawal from a Multiemployer Plan as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 “Withholding
Agent” means (a) the Borrower, (b) any other Loan Party, (c) the Administrative Agent and (d) any other person required to withhold any Taxes, as applicable. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

Section 1.2 General; References to Central Time. 

Unless otherwise indicated, all accounting terms, ratios and measurements shall be interpreted or determined in accordance with GAAP from time
to time; provided that, if at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Requisite Lenders shall so request, the Administrative
Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the appropriate Lenders pursuant to Section
13.6); provided, further, that, until so amended, such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein. Notwithstanding the preceding sentence, the calculation of liabilities
shall not include any fair value adjustments to the carrying value of liabilities to record such liabilities at fair value pursuant to electing the fair value option election under FASB ASC 825-10-25 (formerly known as FAS 159, The Fair Value Option
for Financial Assets and Financial Liabilities) or other FASB standards allowing entities to elect fair value option for financial liabilities. References in this Agreement to “Sections,” “Articles,” “Exhibits” and
“Schedules” are to sections, articles, exhibits and schedules herein and hereto unless otherwise indicated. References in this Agreement to any document, instrument or agreement (a) shall include all exhibits, schedules and other
attachments thereto, (b) except as expressly provided otherwise in any Loan Document, shall include all documents, instruments or agreements issued or executed in replacement thereof, to the extent not prohibited hereby and (c) shall mean such
document, instrument or agreement, or replacement or predecessor thereto, as amended, supplemented, restated or otherwise modified from time to time to the extent not otherwise stated herein or prohibited hereby and in effect at any given time.
Wherever from the context it appears appropriate, each term stated in either the singular or plural shall include the singular and plural, and pronouns stated in the masculine, feminine or neuter gender shall include the masculine, the feminine and
the neuter. Unless explicitly set forth to the contrary, a reference to “Subsidiary” means a Subsidiary of the Parent or a Subsidiary of such Subsidiary and a reference to an “Affiliate” means a reference to an Affiliate of the
Parent. Titles and captions of Articles, Sections, subsections and clauses in this Agreement are for convenience only, and neither limit nor amplify the provisions of this Agreement. Unless otherwise indicated, all references to time are references
to Central time daylight or standard, as applicable. 
 Section 1.3 Financial Attributes of Non-Wholly Owned Subsidiaries. 

When determining compliance by the Parent or the Borrower with any covenant in Section 10.1 or any other financial covenant contained in any
of the Loan Documents or the covenants in Section 10.8, (a) only the Ownership Share of the Parent or the Borrower, as applicable, of the financial attributes of a Subsidiary that is not a Wholly Owned Subsidiary shall be included, (b) the
Parent’s Ownership Share of the Borrower shall be deemed to be 100.0% and the Borrower shall be deemed to be a Wholly Owned Subsidiary of the Parent and (c) unsecured intercompany Indebtedness owed by the Parent or any of its consolidated
Subsidiaries, on the one hand, to the Parent or any of its consolidated Subsidiaries, on the other hand, shall be excluded. 

  
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 ARTICLE II 

CREDIT FACILITY 
 Section
2.1 [Reserved]. 
 Section 2.2 Term Loans. 

(a) Making of Term Loans. Subject to the terms and conditions hereof, each Term Loan Lender severally and not jointly agrees to make
available in a single drawing on the Effective Date, a Term Loan to the Borrower in the aggregate principal amount equal to such Lender’s Term Loan Commitment in accordance with the terms hereof. Upon a Lender’s funding of its Term Loan
Commitment, the Term Loan Commitment of such Lender shall terminate. 
 (b) Requests for Term Loans. Not later than 11:00 a.m.
Central time (x) at least one (1) Business Day prior to the Effective Date, in the case of a borrowing of Base Rate Loans and (y) at least three (3) Business Days prior to the Effective Date, in the case of a borrowing of LIBOR Loans (or such later
time as may be agreed by the Administrative Agent), the Borrower shall notify the Administrative Agent of such requested borrowing by hand delivery or telecopy, electronic mail or other similar form of communication of a Notice of Borrowing or by
telephone (which, in the case of notification by telephone, shall be confirmed promptly by hand delivery or telecopy, electronic mail or other similar form of communication to the Administrative Agent of a Notice of Borrowing). Each such Notice
of Borrowing, whether telephonic or written, shall specify the aggregate principal amount of the Term Loans to be borrowed, the date such Term Loans are to be borrowed (which must be a Business Day), the Type of the requested Term Loans, and if such
Term Loans are to be LIBOR Loans, the initial Interest Period for such Term Loans. Each Notice of Borrowing, whether telephonic or written, shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of
Borrowing, the Borrower may (without specifying whether a Term Loan will be a Base Rate Loan or a LIBOR Loan) request that the Administrative Agent provide the Borrower with the most recent LIBOR available to the Administrative Agent. The
Administrative Agent shall provide such quoted rate to the Borrower on the date of such request. 
 (c) Funding of Term
Loans. Each Term Loan Lender shall deposit an amount equal to the Term Loan to be made or made available by such Term Loan Lender to the Borrower with the Administrative Agent at the Principal Office, in immediately available funds by 11:00
a.m. Central time or such later time specified by the Administrative Agent in accordance with instructions received from the Administrative Agent on the Effective Date. Subject to fulfillment of all applicable conditions set forth in Sections
6.2 and 6.3, the Administrative Agent shall make available to the Borrower in the account specified by the Borrower in the Notice of Borrowing, not later than 2:00 p.m. Central time on the Effective Date the proceeds of such amounts received by the
Administrative Agent. The Borrower may not reborrow any portion of the Term Loans once repaid. 
 Section 2.3 [Reserved]. 

Section 2.4 [Reserved]. 

Section 2.5 [Reserved]. 

Section 2.6 Rates and Payment of Interest on Loans. 

(a) Rates. The Borrower promises to pay to the Administrative Agent for the account of each Lender interest on the unpaid
principal amount of each Loan made by such Lender (subject to Sections 2.10 and 5.2) for the period from and including the date of the making of such Loan to but excluding the date such Loan shall be paid in full, at the following per annum rates:

 (i) during such periods as such Loan is a Base Rate Loan, at the Base Rate (as in effect from time to time), plus the
Applicable Margin for Base Rate Loans; and 
 (ii) during such periods as such Loan is a LIBOR Loan, at the Adjusted LIBOR
Rate for such Loan for the applicable Interest Period therefor, plus the Applicable Margin for LIBOR Loans. 

  
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 Notwithstanding the foregoing, (x) automatically upon any Event of Default under Section 11.1(a), (e) or (f) or
(y) at the option of the Requisite Lenders (by notice to the Borrower) while any other Event of Default exists, the Borrower shall pay to the Administrative Agent for the account of each Lender, interest at the Post-Default Rate on the outstanding
principal amount of any Loan made by such Lender and on any other amount payable by the Borrower hereunder to or for the account of such Lender (including without limitation, accrued but unpaid interest to the extent permitted under Applicable Law).

 (b) Payment of Interest. All accrued and unpaid interest on the outstanding principal amount of each Loan shall be payable
(i) with respect to any Base Rate Loan, the last Business Day of each March, June, September and December, (ii) with respect to any LIBOR Loan, the last day of the Interest Period applicable to such Loan and, in the case of a LIBOR
Loan with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period and (iii) on any
date on which the principal balance of such Loan is due and payable in full (whether at maturity, due to acceleration or otherwise). Interest payable at the Post-Default Rate shall be payable from time to time on demand. All determinations
by the Administrative Agent of an interest rate hereunder shall be conclusive and binding on the Lenders and the Borrower for all purposes, absent manifest error. 

Section 2.7 Number of Interest Periods. 

There may be no more than five (5) different Interest Periods for LIBOR Loans outstanding at the same time. 

Section 2.8 Repayment of Loans. 

The Borrower shall repay the entire outstanding principal amount of, and all accrued but unpaid interest on, the Term Loans on the Term Loan
Maturity Date. 
 Section 2.9 Prepayments. 

Subject to Section 5.4, the Borrower may prepay any Loan at any time without premium or penalty. The Borrower shall give the
Administrative Agent at least three (3) Business Days’ prior written notice of the prepayment, in the case of any LIBOR Loan and one (1) Business Day’s prior written notice of the prepayment, in the case of any Base Rate Loan. Each
voluntary prepayment of Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess thereof. Any notice of prepayment may be conditioned upon the consummation of any financing or acquisition or similar
transaction and, to the extent such condition is not satisfied by the date of prepayment specified therein, such notice of prepayment may be revoked or the date of prepayment specified therein may be delayed. 

Section 2.10 Continuation. 

So long as no Default or Event of Default exists, the Borrower may on any Business Day, with respect to any LIBOR Loan, elect to maintain such
Loan or any portion thereof as a LIBOR Loan by selecting a new Interest Period for such Loan. Each Continuation of a LIBOR Loan shall be in an aggregate minimum amount of $2,500,000 and integral multiples of $500,000 in excess of that amount,
and each new Interest Period selected under this Section shall commence on the last day of the immediately preceding Interest Period. Each selection of a new Interest Period shall be made by the Borrower giving to the Administrative Agent a
Notice of Continuation not later than 11:00 a.m. Central time on the third (3rd) Business Day prior to the date of any such Continuation. Any notice by the Borrower of a Continuation shall be by telecopy, electronic mail or other similar form
of communication in the form of a Notice of Continuation, specifying (a) the proposed date of such Continuation, (b) the LIBOR Loans or portions thereof subject to such Continuation and (c) the duration of the selected Interest Period, all of which
shall be specified in such manner as is necessary to comply with all limitations on Loans outstanding hereunder. Each Notice of Continuation shall be irrevocable by and binding on the Borrower once given. Promptly after receipt of a

  
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Notice of Continuation, the Administrative Agent shall notify each Lender of the proposed Continuation. If the Borrower shall fail to select in a timely manner a new Interest Period for any
LIBOR Loan in accordance with this Section, such Loan will automatically, on the last day of the current Interest Period therefor, continue as a LIBOR Loan with an Interest Period of one month; provided, however that if a Default or
Event of Default exists, unless repaid such Loan will automatically, on the last day of the current Interest Period therefor and notwithstanding the first sentence of Section 2.11 or the Borrower’s failure to comply with any of the terms
of such Section 2.11, Convert into a Base Rate Loan. 
 Section 2.11 Conversion. 

The Borrower may on any Business Day, upon the Borrower’s giving of a Notice of Conversion to the Administrative Agent by telecopy,
electronic mail or other similar form of communication, Convert all or a portion of a Loan denominated in Dollars of one Type into a Loan of another Type; provided, however, that a Base Rate Loan may not be Converted into a LIBOR Loan
if a Default or Event of Default exists. Each Conversion of Base Rate Loans into LIBOR Loans shall be in an aggregate minimum amount of $2,500,000 and integral multiples of $500,000 in excess of that amount. Each such Notice of Conversion
shall be given not later than 11:00 a.m. Central time three (3) Business Days prior to the date of any proposed Conversion. Promptly after receipt of a Notice of Conversion, the Administrative Agent shall notify each Lender of the proposed
Conversion. Subject to the restrictions specified above, each Notice of Conversion shall be by telecopy, electronic mail or other similar form of communication in the form of a Notice of Conversion specifying (a) the requested date of such
Conversion, (b) the Type of Loan to be Converted, (c) the portion of such Type of Loan to be Converted, (d) the Type of Loan such Loan is to be Converted into and (e) if such Conversion is into a LIBOR Loan, the requested duration of the Interest
Period of such Loan. If the Borrower shall elect a conversion to LIBOR Loans but fail to select an Interest Period for any LIBOR Loan in accordance with this Section, the Borrower shall be deemed to have selected an Interest Period of one
month. Each Notice of Conversion shall be irrevocable by and binding on the Borrower once given. 
 Section 2.12 Term Notes.

 (a) Term Notes. To the extent requested by any Term Loan Lender, the Term Loan made by a Term Loan Lender shall, in addition
to this Agreement, also be evidenced by a Term Note, payable to the order of such Term Loan Lender in a principal amount equal to the amount of its Loan and otherwise duly completed. 

(b) Records. The date, amount, interest rate, Type and duration of Interest Periods (if applicable) of each Loan made by each
Lender to the Borrower, and each payment made on account of the principal thereof, shall be recorded by such Lender on its books and such entries shall be binding on the Borrower absent manifest error; provided, however, that the
failure of a Lender to make any such record shall not affect the obligations of the Borrower under any of the Loan Documents. 
 (c)
Lost, Stolen, Destroyed or Mutilated Term Notes. Upon receipt by the Borrower of (i) written notice from a Lender that a Term Note of such Lender has been lost, stolen, destroyed or mutilated, and (ii)(A) in the case of loss, theft or
destruction, an agreement of indemnity from such Lender in form reasonably satisfactory to the Borrower, which agreement of indemnity shall be unsecured but shall not impair any right of set-off the Borrower may have against such Lender in
connection with any loss incurred by the Borrower as a result of such lost note, or (B) in the case of mutilation, upon surrender and cancellation of such Term Note, the Borrower shall at its own expense execute and deliver to such Lender a new Term
Note dated the date of such lost, stolen, destroyed or mutilated Term Note. 
 Section 2.13 Reductions of the Term Loan Commitments.

 (a) Unless previously terminated, the Term Loan Commitment of each Lender shall terminate on the earlier of (i) the funding of the
Term Loans on the Effective Date and (ii) 5:00 p.m. New York City time on the last day of the Term Loan Availability Period. 

(b) The Borrower shall have the right to terminate or reduce the aggregate unused amount of the undrawn Term Loan Commitments at any time and
from time to time without penalty or premium upon not less than 

  
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three (3) Business Days’ prior written notice to the Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any
such reduction and shall be irrevocable once given and effective only upon receipt by the Administrative Agent (any notice satisfying such requirements, a “Commitment Reduction Notice”). Any notice of termination may be conditioned
upon the consummation of any financing or acquisition or similar transaction and, to the extent such condition is not satisfied by the effective date specified therein, such notice of termination may be revoked or the effective date specified
therein may be delayed. Promptly after receipt of a Commitment Reduction Notice the Administrative Agent shall notify each Term Loan Lender of the proposed termination or Term Loan Commitment reduction. The Term Loan Commitments, once reduced or
terminated pursuant to this Section, may not be increased or reinstated. 
 Section 2.14 [Reserved]. 

Section 2.15 [Reserved]. 

Section 2.16 [Reserved]. 

Section 2.17 [Reserved]. 

Section 2.18 Funds Transfer Disbursements. 

The Borrower hereby authorizes the Administrative Agent to disburse the proceeds of any Loan made by the Lenders or any of their Affiliates
pursuant to the Loan Documents as requested by an authorized representative of the Borrower to any account specified by the Borrower in any Notice of Borrowing. 

ARTICLE III 
 PAYMENTS,
FEES AND OTHER GENERAL PROVISIONS 
 Section 3.1 Payments. 

(a) Payments by Borrower. Except to the extent otherwise provided herein, all payments of principal, interest, Fees and other
amounts to be made by the Borrower under this Agreement, the Term Notes or any other Loan Document shall be made in Dollars, in immediately available funds, without setoff, deduction or counterclaim (excluding Taxes required to be withheld pursuant
to Section 3.10), to the Administrative Agent at the Principal Office, not later than 2:00 p.m. Central time on the date on which such payment shall become due (each such payment made after such time on such due date to be deemed to have been made
on the next succeeding Business Day) or, in the case of any optional prepayment of all outstanding Obligations on the Termination Date, at such later time on such Termination Date as is reasonably acceptable to the Administrative Agent. Subject
to Section 11.5, the Borrower shall, at the time of making each payment under this Agreement or any other Loan Document, specify to the Administrative Agent the amounts payable by the Borrower hereunder to which such payment is to be
applied. Each payment received by the Administrative Agent for the account of a Lender under this Agreement or any Term Note shall be paid to such Lender by wire transfer of immediately available funds in accordance with the wiring instructions
provided by such Lender to the Administrative Agent from time to time, for the account of such Lender at the applicable Lending Office of such Lender. In the event the Administrative Agent fails to pay such amounts to such Lender = within one
(1) Business Day of receipt of such amounts, the Administrative Agent shall pay interest on such amount until paid at a rate per annum equal to the Federal Funds Rate from time to time in effect. If the due date of any payment under this
Agreement or any other Loan Document would otherwise fall on a day which is not a Business Day such date shall be extended to the next succeeding Business Day and interest shall continue to accrue at the rate, if any, applicable to such payment for
the period of such extension. 
 (b) [Reserved] 

(c) Presumptions Regarding Payments by Borrower. Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may 

  
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assume that the Borrower has made such payment on such date in accordance herewith and may (but shall not be obligated to), in reliance upon such assumption, distribute to the Lenders the amount
due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent on demand that amount so distributed to such Lender, with interest thereon, for each day from
and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry
rules on interbank compensation. 
 Section 3.2 Pro Rata Treatment. 

Except to the extent otherwise provided herein: (a) the making of Term Loans under Section 2.2(a) shall be made from the Term Loan
Lenders, pro rata according to the amounts of their respective Term Loan Commitments; (b) each payment or prepayment of principal of any tranche of Term Loans shall be made for the account of the applicable Term Loan Lenders pro rata in
accordance with the respective unpaid principal amounts of the Term Loans of such tranche held by them; (c) each payment of interest on the Term Loans shall be made for the account of the Term Loan Lenders, pro rata in accordance with the amounts of
interest on such Term Loans then due and payable to the respective Lenders; (d) the Conversion and Continuation of Term Loans of a particular Type (other than Conversions provided for by Sections 5.1(c) and 5.5) shall be made pro rata among the Term
Loan Lenders according to the amounts of their respective Term Loans and the then current Interest Period for each Lender’s portion of each such Loan of such Type shall be coterminous. 

Section 3.3 Sharing of Payments, Etc. 

If a Lender shall obtain payment of any principal of, or interest on, any Loan made by it to the Borrower under this Agreement or shall obtain
payment on any other Obligation owing by the Borrower or any other Loan Party through the exercise of any right of set-off, banker’s lien, counterclaim or similar right or otherwise or through voluntary prepayments directly to a Lender or other
payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 11.5, as applicable,
such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made by the other Lenders or other Obligations owed to such other Lenders in such
amounts, and make such other adjustments from time to time as shall be equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or
preserving such benefit) in accordance with the requirements of Section 3.2 or Section 11.5, as applicable. To such end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such
payment is rescinded or must otherwise be restored. The Borrower agrees that any Lender so purchasing a participation (or direct interest) in the Loans or other Obligations owed to such other Lenders may exercise all rights of set-off, banker’s
lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or
shall affect the right of any Lender to exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of the Borrower. 

Section 3.4 Several Obligations. 

No Lender shall be responsible for the failure of any other Lender to make a Loan or to perform any other obligation to be made or performed
by such other Lender hereunder, and the failure of any Lender to make a Loan or to perform any other obligation to be made or performed by it hereunder shall not relieve the obligation of any other Lender to make any Loan or to perform any other
obligation to be made or performed by such other Lender. 
 Section 3.5 Fees. 

(a) Closing Fee. On the Effective Date, the Borrower agrees to pay to the Administrative Agent and each Lender all loan fees as
have been agreed to in the Fee Letter. 
 (b) Administrative and Other Fees. The Borrower agrees to pay the administrative and
other fees of the Administrative Agent as provided in the Agency Fee Letter and as may be otherwise agreed to in writing from time to time by the Borrower and the Administrative Agent. 

  
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 All fees payable hereunder shall be paid on the dates due, in Dollars and immediately available
funds, to the Administrative Agent. Fees paid shall not be refundable under any circumstances. 
 Section 3.6 Computations. 

Unless otherwise expressly set forth herein, any accrued interest on any Loan, any Fees or any other Obligations due hereunder shall be
computed on the basis of a year of three hundred sixty (360) days and the actual number of days elapsed except that interest computed by reference to the Base Rate at times when the Base Rate is based on the Prime Rate shall be computed on the basis
of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Base Rate, Adjusted LIBOR Rate or LIBOR Rate shall
be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 
 Section 3.7 Usury.

 Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which are treated as interest on such Loan under applicable law (collectively, the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken,
received or reserved by the Lender holding such Loan in accordance with Applicable Law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate. All
charges other than charges for the use of money shall be fully earned and nonrefundable when due. If Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the
principal of the Loans or, if it exceeds such unpaid principal, refunded to Borrower. In determining whether the interest contracted for, charged, or received by Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the
extent permitted by Applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in
equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 
 Section 3.8
[Reserved] 
 Section 3.9 Defaulting Lenders. 

Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such
Lender is no longer a Defaulting Lender, to the extent permitted by Applicable Law: 
 (a) Waivers and Amendments. Such Defaulting
Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of Requisite Lenders and in Section 13.6. 

(b) Defaulting Lender Waterfall. Any payment of principal, interest, Fees or other amounts received by the Administrative Agent
for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article XI or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 13.3 shall be applied at such time
or times as may be determined by the Administrative Agent as follows: 
 (i) first, to the payment of any amounts
owing by such Defaulting Lender to the Administrative Agent hereunder; 

  
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 (ii) second, as the Borrower may request (so long as no Default or Event
of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; 

(iii) third, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent
jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; 

(iv) fourth, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a
result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and 

(v) fifth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction. 

(c) Certain Fees. 
 (i)
No Defaulting Lender shall be entitled to receive the Fee payable under Section 3.5(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been
paid to that Defaulting Lender). 
 (ii) With respect to any Fee not required to be paid to any Defaulting Lender pursuant to the
immediately preceding clause (i), the Borrower shall not be required to pay the remaining amount of any such Fee. 
 (d) [Reserved] 

(e) [Reserved] 
 (f)
Defaulting Lender Cure. If the Borrower and the Administrative Agent agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date
specified in such notice and subject to any conditions set forth therein, that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may
determine to be necessary to cause the Loans to be held pro rata by the applicable Lenders in accordance with their respective Term Loan Commitment Percentages, whereupon such Lender will cease to be a Defaulting Lender; provided that no
adjustments will be made retroactively with respect to Fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed
by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

(g) [Reserved] 
 (h) Purchase
of Defaulting Lender’s Commitment. During any period that a Lender is a Defaulting Lender, the Borrower may, by the Borrower giving written notice thereof to the Administrative Agent and such Defaulting Lender, demand that such Defaulting
Lender assign its Commitment and Loans to an Eligible Assignee subject to and in accordance with the provisions of Section 13.5(b). No party hereto shall have any obligation whatsoever to initiate any such replacement or to assist in finding an
Eligible Assignee. In addition, any Lender who is not a Defaulting Lender may, but shall not be obligated, in its sole discretion, acquire the face amount of all or a portion of such Defaulting Lender’s Commitment and Loans via an assignment
subject to and in accordance with the provisions of Section 13.5(b). In connection with any such assignment, such Defaulting Lender shall promptly execute all documents reasonably requested to effect such assignment, including an appropriate
Assignment and Assumption and, notwithstanding Section 13.5(b), shall pay to the Administrative Agent an assignment fee in the amount of $7,500. The exercise by the Borrower of its rights under this Section shall, except as provided in the
immediately preceding sentence, be at the Borrower’s sole cost and expense and at no cost or expense to the Administrative Agent or any of the Lenders. 

  
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 Section 3.10 Taxes. 

(a) FATCA. For purposes of this Section, the term “Applicable Law” includes FATCA. 

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

(d) Indemnification by the Borrower. The Borrower and the other Loan Parties shall jointly and severally indemnify each Recipient,
within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or
deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest
error. 
 (e) Indemnification by the Lenders. If the Internal Revenue Service or any other Governmental Authority asserts a claim
that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account of any Lender for any reason (including, without limitation, because a Lender’s failure to comply with the provisions of Section 13.5 relating
to the maintenance of a Participant Register, because the appropriate form was not delivered or not properly executed, or because a Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or
reduction of withholding Tax ineffective), each Lender shall severally indemnify and hold harmless the Administrative Agent, within ten (10) days after demand therefor, fully for all amounts (as Taxes or otherwise) paid in connection with any Loan
Document, and any reasonable expenses arising therefrom or with respect thereto (but only to the extent that the Borrower or another Loan Party has not already indemnified the Administrative Agent for such amounts and without limiting the obligation
of the Borrower and the other Loan Parties to do so), whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender
by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by
the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this subsection. 

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

  
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 (g) Status of Lenders. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding of any Tax with respect to payments made under any Loan
Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or
the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other
documentation prescribed by Applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. 
 (ii) Without limiting the generality of the foregoing: 

(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on
which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), an electronic copy (or an original if requested by the Borrower or the Administrative
Agent) of an executed IRS Form W-9 (or any successor form) certifying that such Lender is exempt from U.S. federal backup withholding tax; 

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

(II) executed originals of IRS Form W-8ECI; 

(III) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 871(h) or
Section 881(c) of the Internal Revenue Code, (x) a certificate substantially in the form of Exhibit Q-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881 (c)(3)(A) of the Internal Revenue Code, a
“10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Internal Revenue Code (a
“U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or 

(IV) to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form
W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit Q-2 or Exhibit Q-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided
that, if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the
form of Exhibit Q-4 on behalf of each such direct and indirect partner; 

  
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 (C) any Foreign Lender shall, to the extent it is legally entitled to do so,
deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon
the reasonable request of the Borrower or the Administrative Agent), an electronic copy (or an original if requested by the Borrower or the Administrative Agent) of any other form prescribed by Applicable Law as a basis for claiming exemption from
or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by Applicable Law to permit the Borrower or the Administrative Agent to determine the withholding or deduction
required to be made; and 
 (D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal
withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Internal Revenue Code, as applicable), such Lender shall
deliver to the Borrower and the Administrative Agent at the time or times prescribed by Applicable Law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by Applicable Law
(including as prescribed by Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent
to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D),
“FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 Each Lender agrees that if any form or certification it
previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(h) Lender’s Authorization. Each Lender hereby authorizes the Administrative Agent to deliver to the Loan Parties and to any
successor Administrative Agent any documentation provided by such Lender to the Administrative Agent pursuant to Section 3.10(g). 
 (i)
Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section (including by the payment of
additional amounts pursuant to this Section), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of
all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such
indemnified party, shall repay to such indemnified party the amount paid over pursuant to this subsection (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is
required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this subsection, in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this subsection
the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or
otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This subsection shall not be construed to require any indemnified party to make available its Tax returns (or any other
information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 
 (j) Survival. Each
party’s obligations under this Section shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all obligations under any Loan Document. 

  
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 ARTICLE IV 

[RESERVED] 
 ARTICLE V

 YIELD PROTECTION, ETC. 

Section 5.1 Additional Costs; Capital Adequacy. 

(a) Capital Adequacy. If any Lender determines that any Regulatory Change affecting such Lender or any lending office of such Lender or
such Lender’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a
consequence of this Agreement, the Commitments of such Lender or the Loans made by such Lender, to a level below that which such Lender or such Lender’s holding company could have achieved but for such Regulatory Change (taking into
consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy and liquidity), then to the extent requested by such Lender in writing in accordance with subsection (e) and as
reasonably determined by such Lender (which determination shall be made in good faith (and not on an arbitrary or capricious basis) and generally consistent with similarly situated customers of such Lender under agreements having provisions similar
to this Section 5.1, after consideration of such factors as such Lender then reasonably determines to be relevant), from time to time the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such
Lender’s holding company for any such reduction suffered. 
 (b) Additional Costs. In addition to, and not in limitation of the
immediately preceding subsection, the Borrower shall promptly pay to the Administrative Agent for the account of a Lender from time to time such amounts as such Lender may determine to be necessary to compensate such Lender for any costs incurred by
such Lender that it determines are attributable to its making, Continuing, Converting to or maintaining of any Loans or its obligation to make any Loans hereunder, any reduction in any amount receivable by such Lender under this Agreement or any of
the other Loan Documents in respect of any of such Loans or such obligation or the maintenance by such Lender of capital in respect of its Loans or its Commitments (such increases in costs and reductions in amounts receivable being herein called
“Additional Costs”), resulting from any Regulatory Change that: 
 (i) changes the basis of taxation of any
amounts payable to such Lender under this Agreement or any of the other Loan Documents in respect of any of such Loans or its Commitments (other than Indemnified Taxes indemnified under Section 3.10 or Excluded Taxes); 

(ii) imposes or modifies any reserve, special deposit, compulsory loan, insurance charge or similar requirements (other than
Regulation D of the Board of Governors of the Federal Reserve System or other similar reserve requirement applicable to any other category of liabilities or category of extensions of credit or other assets by reference to which the interest rate on
LIBOR Loans is determined to the extent utilized when determining LIBOR for such Loans) relating to any extensions of credit or other assets of, or any deposits with or other liabilities of, or other credit extended by, or any other acquisition of
funds by such Lender (or its parent corporation), or any commitment of such Lender (including, without limitation, the Commitments of such Lender hereunder); or 

(iii) imposes on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting
this Agreement or the Loans made by such Lender. 
 In each case, to the extent requested by such Lender in writing in accordance with subsection (e) and as
reasonably determined by the such Lender (which determination shall be made in good faith (and not on an arbitrary or capricious basis) and generally consistent with similarly situated customers of such Lender under agreements having provisions
similar to this Section 5.1, after consideration of such factors as such Lender then reasonably determines to be relevant). 

  
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 (c) Lender’s Suspension of LIBOR Loans. Without limiting the effect of the
provisions of the immediately preceding subsections (a) and (b), if by reason of any Regulatory Change, any Lender either (i) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category of deposits
or other liabilities of such Lender that includes deposits by reference to which the interest rate on LIBOR Loans is determined as provided in this Agreement or a category of extensions of credit or other assets of such Lender that includes LIBOR
Loans, or (ii) becomes subject to restrictions on the amount of such a category of liabilities or assets that it may hold, then, if such Lender so elects by notice to the Borrower (with a copy to the Administrative Agent), the obligation of such
Lender to make or Continue LIBOR Loans and/or the obligation of such Lender to Convert Base Rate Loans into LIBOR Loans shall be suspended until such Regulatory Change ceases to be in effect (in which case the provisions of Section 5.5 shall apply).

 (d) [Reserved] 
 (e)
Notification and Determination of Additional Costs. Each of the Administrative Agent and each Lender, as the case may be, agrees to notify the Borrower (and in the case of a Lender, to notify the Administrative Agent) of any event
occurring after the Agreement Date entitling the Administrative Agent or such Lender to compensation under any of the preceding subsections of this Section as promptly as practicable; provided, however, that the failure of the
Administrative Agent or any Lender to give such notice shall not release the Borrower from any of its obligations hereunder except to the extent set forth in subsection (f). The Administrative Agent and each Lender, as the case may be, agrees
to furnish to the Borrower (and in the case of a Lender to the Administrative Agent as well) a certificate setting forth the basis and amount of each request for compensation under this Section. Determinations by the Administrative Agent or
such Lender, as the case may be, of the effect of any Regulatory Change shall be conclusive and binding for all purposes, absent manifest error. The Borrower shall pay the Administrative Agent or any such Lender, as the case may be, the amount
shown as due on any such certificate within ten (10) days after receipt thereof. 
 (f) Delay in Requests. Failure or delay on the
part of any Lender to demand compensation pursuant to the foregoing provisions of this Section 5.1 shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be required to
compensate a Lender pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than six months prior to the date that such Lender notifies the Borrower of the Regulatory Change giving rise to
such increased costs or reductions (except that, if the Regulatory Change giving rise to such increased costs or reductions is retroactive, then the six-month period referred to above shall be extended to include the period of retroactive effect
thereof). 
 Section 5.2 Suspension of LIBOR Loans. 

Anything herein to the contrary notwithstanding, if, on or prior to the determination of LIBOR for any Interest Period: 

(a) the Administrative Agent shall determine (which determination shall be conclusive) that reasonable and adequate means do
not exist for the ascertaining LIBOR, as applicable, for such Interest Period; 
 (b) the Administrative Agent reasonably
determines (which determination shall be conclusive) that quotations of interest rates for the relevant deposits referred to in the definition of LIBOR are not being provided in the relevant amounts or for the relevant maturities for purposes of
determining rates of interest for LIBOR Loans as provided herein; or 
 (c) the Administrative Agent reasonably determines
(which determination shall be conclusive) that the relevant rates of interest referred to in the definition of LIBOR upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined are not likely to
adequately cover the cost to any Lender of making or maintaining LIBOR Loans for such Interest Period; 
 then the Administrative Agent shall give the
Borrower and each Lender prompt notice thereof and, so long as such condition remains in effect, the Lenders shall be under no obligation to, and shall not, make additional LIBOR 

  
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Loans, Continue LIBOR Loans, or Convert Loans into LIBOR Loans and the Borrower shall, on the last day of each current Interest Period for each outstanding LIBOR Loan, either prepay such Loan or
Convert such Loan into a Base Rate Loan. 
 Section 5.3 Illegality. 

Notwithstanding any other provision of this Agreement, if any Lender shall determine (which determination shall be conclusive and binding)
that it is unlawful for such Lender to honor its obligation to make or maintain LIBOR Loans hereunder, then such Lender shall promptly notify the Borrower thereof (with a copy of such notice to the Administrative Agent) and such Lender’s
obligation to make or Continue, or to Convert Loans of any other Type into, LIBOR Loans shall be suspended until such time as such Lender may again make and maintain LIBOR Loans (in which case the provisions of Section 5.5 shall be applicable). 

Section 5.4 Compensation. 

Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for
and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 
 (a) any payment or prepayment
(whether mandatory or optional) of a LIBOR Loan or Conversion of a LIBOR Loan made by such Lender for any reason (including, without limitation, acceleration) on a date other than the last day of the Interest Period for such Loan; or 

(b) any failure by the Borrower for any reason (including, without limitation, the failure of any of the applicable conditions
precedent specified in Section 6.2 to be satisfied) to borrow a LIBOR Loan from such Lender on the date for such borrowing, or to Convert a Base Rate Loan into a LIBOR Loan or Continue a LIBOR Loan on the requested date of such Conversion or
Continuation; 
 in any such case, excluding any loss of anticipated profits and including any loss or expense arising from the liquidation or reemployment
of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing.
Upon the Borrower’s request, such Lender shall provide the Borrower with a statement setting forth the basis for requesting such compensation and the method for determining the amount thereof. Any such statement shall be conclusive absent
manifest error. 
 Section 5.5 Treatment of Affected Loans. 

(a) If the obligation of any Lender to make LIBOR Loans, or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be suspended
pursuant to Section 5.1(c), Section 5.2 or Section 5.3 then such Lender’s LIBOR Loans denominated in Dollars shall be automatically Converted into Base Rate Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in
the case of a Conversion required by Section 5.1(c), Section 5.2, or Section 5.3 on such earlier date as such Lender or the Administrative Agent, as applicable, may specify to the Borrower (with a copy to the Administrative Agent, as applicable))
and, unless and until such Lender or the Administrative Agent, as applicable, gives notice as provided below that the circumstances specified in Section 5.1, Section 5.2 or Section 5.3 that gave rise to such Conversion no longer exist: 

(i) to the extent that such Lender’s LIBOR Loans have been so Converted, all payments and prepayments of principal that
would otherwise be applied to such Lender’s LIBOR Loans shall be applied instead to its Base Rate Loans; and 
 (ii) all
Loans that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as Base Rate Loans, and all Base Rate Loans of such Lender that would otherwise be Converted into LIBOR Loans shall remain as Base Rate
Loans. 

  
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 If such Lender or the Administrative Agent, as applicable, gives notice to the Borrower (with a copy to the
Administrative Agent, as applicable) that the circumstances specified in Section 5.1(c), 5.2 or 5.3 that gave rise to the Conversion of such Lender’s LIBOR Loans pursuant to this Section no longer exist (which such Lender or the Administrative
Agent, as applicable, agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans made by other Lenders are outstanding, then such Lender’s Base Rate Loans shall be automatically Converted, on the first day(s) of
the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts,
Types and Interest Periods) in accordance with their respective Commitments. 
 Section 5.6 Affected Lenders. 

If (a) a Lender requests compensation pursuant to Section 3.10 or 5.1, or (b) the obligation of any Lender to make or Continue LIBOR Loans, or
to Convert Base Rate Loans into LIBOR Loans, shall be suspended pursuant to Section 5.1(c) or 5.3, then, so long as there does not then exist any Default or Event of Default, the Borrower may demand that such Lender (the “Affected
Lender”), and upon such demand the Affected Lender shall promptly, assign its Term Loan or Commitment to an Eligible Assignee subject to and in accordance with the provisions of Section 13.5(b) for a purchase price equal to (x) the
aggregate principal balance of all Loans then owing to the Affected Lender, plus (y) any accrued but unpaid interest thereon and accrued but unpaid fees owing to the Affected Lender, or any other amount as may be mutually agreed upon by such
Affected Lender and Eligible Assignee. Each of the Administrative Agent and the Affected Lender shall reasonably cooperate in effectuating the replacement of such Affected Lender under this Section, but at no time shall the Administrative Agent,
such Affected Lender, any other Lender or any Titled Person be obligated in any way whatsoever to initiate any such replacement or to assist in finding an Eligible Assignee. The exercise by the Borrower of its rights under this Section shall be at
the Borrower’s sole cost and expense and at no cost or expense to the Administrative Agent, the Affected Lender or any of the other Lenders. The terms of this Section shall not in any way limit the Borrower’s obligation to pay to any
Affected Lender compensation owing to such Affected Lender pursuant to this Agreement (including, without limitation, pursuant to Sections 3.10, 5.1 or 5.4) with respect to any period up to the date of replacement. 

Section 5.7 Change of Lending Office. 

Each Lender agrees that it will use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to assign
its rights and obligations hereunder to another of its offices, branches or affiliates or to designate an alternate Lending Office with respect to any of its Loans affected by the matters or circumstances described in Sections 3.10, 5.1 or 5.3 to
reduce the liability of the Borrower or avoid the results provided thereunder, so long as such designation is not disadvantageous to such Lender as determined by such Lender in its sole discretion. 

ARTICLE VI 
 CONDITIONS
PRECEDENT 
 Section 6.1 Agreement Date. 

Each of the following conditions shall be satisfied on the Agreement Date (or waived in accordance with Section 13.6): 

(a) The Administrative Agent shall have received counterparts of this Agreement executed by each of the parties hereto. 

(b) The Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent,
opinions of (i) Goodwin Procter LLP, counsel to the Parent and the Borrower and (ii) Venable LLP, Maryland counsel to the Parent, in each case, addressed to the Administrative Agent and the Lenders. 

  
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 (c) The Administrative Agent shall have received (i) the certificate or articles
of incorporation or formation, articles of organization, certificate of limited partnership, declaration of trust or other comparable organizational instrument (if any) of the Parent and the Borrower certified as of a recent date by the Secretary of
State of the state of formation of such Person, (ii) a certificate of good standing (or certificate of similar meaning) with respect to the Parent and the Borrower issued as of a recent date by the Secretary of State of the state of formation of
such Person, (iii) a certificate of incumbency signed by the Secretary or Assistant Secretary (or other individual performing similar functions) of the Parent and the Borrower with respect to each of the officers of the Parent and the Borrower
authorized to execute and deliver the Loan Documents to which such Person is a party, and in the case of the Borrower, authorized to execute and deliver on behalf of the Borrower Notices of Borrowing, Notices of Conversion and Notices of
Continuation and (iv) copies certified by the Secretary or Assistant Secretary (or other individual performing similar functions) of the Parent and the Borrower of (A) the by-laws of such Loan Party, if a corporation, the operating agreement, if a
limited liability company, the partnership agreement, if a limited or general partnership, or other comparable document in the case of any other form of legal entity and (B) resolutions adopted by the board of directors, general partner,
managers, members or other appropriate governing body of the Parent and the Borrower authorizing the execution, delivery and performance of the Loan Documents to which it is a party. 

(d) To the extent requested at least ten business days prior to the Agreement Date by the Lead Arrangers, the Parent and the
Borrower shall have delivered, at least three business days prior to the Agreement Date, the documentation and other information with respect to the Parent and the Borrower to the Administrative Agent that are required by regulatory authorities
under applicable “know-your-customer” rules and regulations, including the Patriot Act, prior to the Agreement Date. 

(e) The Administrative Agent shall have received evidence that the Fees, if any, then due and payable under Section 3.5,
together with all other fees, expenses and reimbursement amounts due and payable to the Administrative Agent, the Arrangers or any of the Lenders pursuant to the Fee Letter, the Agency Fee Letter or pursuant to the terms of this Agreement, including
without limitation, the fees and expenses of counsel to the Administrative Agent, have been paid, in the case of expenses and reimbursement amounts to the extent invoiced to the Borrower at least two (2) Business Days prior to the Agreement Date.

 (f) The Administrative Agent shall have received the Guaranty executed by each of the Guarantors initially to be a party
thereto. 
 The Administrative Agent shall notify the Borrower and the Lenders of the Agreement Date, and such notice shall be conclusive
and binding. 
 Section 6.2 Conditions Precedent to Funding of Term Loan. 

Notwithstanding anything in this Agreement or any other Loan Document to the contrary, the obligation of each Lender to make the Term Loan
hereunder during the Term Loan Availability Period shall be subject only to the occurrence of the Agreement Date and the satisfaction (or waiver in accordance with Section 13.6) of the conditions set forth below: 

(a) The Administrative Agent shall have received each of the following, in form and substance reasonably satisfactory to the
Administrative Agent: 
 (i) [Reserved]; 

(ii) Term Notes executed by the Borrower, payable to each applicable Lender that has requested any such Term Note at least two
(2) Business Days prior to the Effective Date and complying with the terms of Section 2.12(a); 

  
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 (iii) an opinion of Goodwin Procter LLP, counsel to the Parent, the Borrower and
each other Loan Party, addressed to the Administrative Agent and the Lenders and in form and substance reasonably satisfactory to the Administrative Agent; 

(iv) the certificate or articles of incorporation or formation, articles of organization, certificate of limited partnership,
declaration of trust or other comparable organizational instrument (if any) of each Loan Party certified as of a recent date by the Secretary of State of the state of formation of such Loan Party; 

(v) a certificate of good standing (or certificate of similar meaning) with respect to each Loan Party issued as of a recent
date by the Secretary of State of the state of formation of each such Loan Party; 
 (vi) a certificate of incumbency signed
by the Secretary or Assistant Secretary (or other individual performing similar functions) of each Loan Party with respect to each of the officers of such Loan Party authorized to execute and deliver the Loan Documents to which such Loan Party is a
party, and in the case of the Borrower, authorized to execute and deliver on behalf of the Borrower Notices of Borrowing, Notices of Conversion and Notices of Continuation; 

(vii) copies certified by the Secretary or Assistant Secretary (or other individual performing similar functions) of each Loan
Party of (A) the by-laws of such Loan Party, if a corporation, the operating agreement, if a limited liability company, the partnership agreement, if a limited or general partnership, or other comparable document in the case of any other form of
legal entity and (B) resolutions adopted by the board of directors, general partner, managers, members or other appropriate governing body of such Loan Party authorizing the execution, delivery and performance of the Loan Documents to which it is a
party; 
 (viii) a certificate signed by a Responsible Officer of Parent certifying (A) that the conditions specified in
Sections 6.2(b), (h) and (i) have been satisfied and (B) certifying the “Designated Eligible Properties” as of the Effective Date; and 

(x) the Solvency Certificate; 

(b) Since December 31, 2015, there has not been any event, change, effect, development or occurrence that, individually or
in the aggregate, has had or would reasonably be expected to have a Material Adverse Effect; 
 (c) The Lead Arrangers shall
have received a Designated Eligible Property Certificate signed by a Responsible Officer of the Parent evidencing that the Parent is in compliance with each of the Maximum Loan to Designated Eligible Property Asset Value Ratio and the Minimum
Designated Eligible Property Debt Yield as of the Effective Date; 
 (d) The Lead Arrangers shall have received: (A) the
unaudited consolidated balance sheets and related statements of comprehensive income and cash flows of the Parent for each fiscal quarter of the Parent ended after December 31, 2015 and at least 45 days before the Effective Date; and (B) a
pro forma consolidated balance sheet and related pro forma statement of comprehensive income of the Parent as of and for the twelve-month period ending on the last day of the most recently completed four-fiscal quarter period ended at least 45 days
(or 90 days in case such four-fiscal quarter period is the end of the Parent’s fiscal year) prior to the Effective Date, prepared after giving effect to the Transactions as if the Transactions had occurred as of such date (in the case of such
balance sheet) or at the beginning of such period (in the case of such statement of comprehensive income) for inclusion in an information memorandum with respect to the Term Loans; 

(e) The Borrower shall have received at least $500,000,000 of gross proceeds from the offering of Senior Notes; 

  
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 (f) Borrowing Date Collateral Requirement: 

(i) The Administrative Agent shall have received a duly executed and delivered counterpart of the Pledge Agreement from VEREIT
SPE Holdco and acknowledgment thereof by the Parent and the Borrower; 
 (ii) the Administrative Agent shall have received
all certificates or instruments, if any, evidencing the issued and outstanding Equity Interests of each Wholly Owned Subsidiary that owns a Designated Eligible Property, accompanied by stock powers undated and endorsed in blank (or arrangements
reasonably satisfactory to the Administrative Agent shall have been made for the foregoing); 
 (iii) the Administrative
Agent shall have received UCC financing statements with respect to the Borrower and VEREIT SPE Holdco, in appropriate form for filing under the UCC and such other documents reasonably requested by the Administrative Agent as may be necessary or
appropriate to perfect the Liens created or purported to be created by the Collateral Documents; 
 (iv) the Administrative
Agent shall have received the results of recent UCC, tax and judgment Lien searches with respect to the Loan Parties, and such searches shall reveal no Liens except for Liens permitted hereunder or to be discharged on the Effective Date; and 

(v) the Administrative Agent shall have a valid and perfected security interest, for the benefit of the Lender Parties, in the
Pledged Collateral. 
 (g) Prior to or substantially concurrent with the Effective Date, the Existing Notes Refinancing shall
have been consummated. 
 (h) No Default or Event of Default shall exist as of the Effective Date or would exist immediately
after giving effect thereto. 
 (i) The representations and warranties made or deemed made by the Borrower and each other
Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be
true and correct in all respects) on and as of the Effective Date with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which
case such representations and warranties shall have been true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct
in all respects) on and as of such earlier date). 
 (j) The Administrative Agent shall have received a timely Notice of
Borrowing. 
 ARTICLE VII 

REPRESENTATIONS AND WARRANTIES 

Section 7.1 Representations and Warranties. 

In order to induce the Administrative Agent and each Lender to enter into this Agreement and to make Loans, each of the Parent and the
Borrower represents and warrants to the Administrative Agent and each Lender as follows: 
 (a) Organization; Power;
Qualification. Each of the Parent and the Borrower, the other Loan Parties and the other Subsidiaries of the Parent (a) is a corporation, limited liability company, partnership 

  
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or other legal entity (i) duly organized or formed and validly existing and (ii) in good standing under the jurisdiction of its incorporation or formation, (b) has the power and authority to own
or lease its respective properties and to carry on its respective business as now being and hereafter proposed to be conducted and (c) is duly qualified and is in good standing as a foreign corporation, limited liability company, partnership or
other legal entity, and authorized to do business, in each jurisdiction in which such qualification or authorization is required, except, in the case of clauses (a)(i) (other than with respect to the Parent or any other Loan Party), (a)(ii) (other
than with respect to the Parent, the Borrower or any Guarantor), (b) and (c), where the failure to be so qualified or authorized could not reasonably be expected to have, in each instance, a Material Adverse Effect. 

(b) Ownership Structure. Part I of Schedule 7.1(b) is, as of the Agreement Date, a complete and correct list of all
Subsidiaries of the Parent setting forth for each such Subsidiary, (i) the jurisdiction of incorporation or formation of such Subsidiary, (ii) each Person holding any Equity Interest in such Subsidiary, (iii) the type of Equity Interests held by
each such Person and (iv) the percentage of ownership of such Subsidiary represented by such Equity Interests. As of the Agreement Date, except as disclosed in such Schedule, (A) each of the Parent, the Borrower and the Subsidiaries of the Parent
owns, free and clear of all Liens (except Permitted Liens), and has the unencumbered right to vote, all outstanding Equity Interests in each Person shown to be held by it on such Schedule, (B) all of the issued and outstanding Equity Interests of
each such Person is validly issued and, to the extent consisting of capital stock of such Person organized as a corporation, fully paid and nonassessable (to the extent such concepts are applicable) and (C) there are no outstanding subscriptions,
options, warrants, commitments, preemptive rights or agreements of any kind (including, without limitation, any stockholders’ or voting trust agreements) for the issuance, sale, registration or voting of, or outstanding securities convertible
into, any additional shares of capital stock of any class, or partnership or other Equity Interests of any type in, any such Person. As of the Agreement Date, Part II of Schedule 7.1(b) correctly sets forth all Unconsolidated Affiliates of the
Parent, including the correct legal name of such Person, the type of legal entity which each such Person is, and all Equity Interests in such Person held directly or indirectly by the Parent. 

(c) Authorization of Loan Documents and Borrowings. Each of the Parent and the Borrower has the right and power,
and has taken all necessary corporate, limited liability company, or partnership action required to authorize it, to borrow and obtain other extensions of credit hereunder. Each of the Parent, the Borrower and each other Loan Party has the
right and power, and has taken all necessary corporate, limited liability company or partnership action required to authorize it, to execute, deliver and perform each of the Loan Documents to which it is a party in accordance with their respective
terms and to consummate the transactions contemplated hereby and thereby. The Loan Documents to which the Parent, the Borrower or any other Loan Party is a party have been duly executed and delivered by the duly authorized officers of such
Person and each is a legal, valid and binding obligation of such Person enforceable against such Person in accordance with its respective terms, except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights
of creditors generally and the availability of equitable remedies for the enforcement of certain obligations contained herein or therein and as may be limited by equitable principles generally. 

(d) Compliance of Loan Documents with Laws. The execution, delivery and performance of this Agreement and the other
Loan Documents to which any Loan Party is a party in accordance with their respective terms and the borrowings and other extensions of credit hereunder do not and will not, by the passage of time, the giving of notice, or both: (i) require any
Governmental Approval or violate any Applicable Law relating to the Parent, the Borrower or any other Loan Party; (ii) conflict with, result in a breach of or constitute a default under the organizational documents of any Loan Party, or any
indenture, agreement or other instrument to which the Parent, the Borrower or any other Loan Party is a party or by which it or any of its respective properties may be bound; or (iii) result in or require the creation or imposition of any Lien upon
or with respect to any property now owned or hereafter acquired by any Loan Party other than in favor of the Administrative Agent for its benefit and the benefit of the other Lender Parties. 

(e) Compliance with Law; Governmental Approvals. Each of the Parent, the Borrower, the other Loan Parties and the
other Subsidiaries of the Parent is in compliance with each Governmental 

  
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Approval and all other Applicable Laws relating to it except for noncompliances which, and Governmental Approvals the failure to possess which, could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. 
 (f) Title to Properties; Liens. Each of the
Borrower, each other Loan Party and each other Subsidiary of the Parent has good, marketable and legal title to, or a valid leasehold interest in, its respective assets, except for such defects in title as could not reasonably be expected to have a
Material Adverse Effect. 
 (g) [Reserved] 

(h) [Reserved] 

(i) Litigation. Except as set forth on Schedule 7.1(i), there are no actions, suits or proceedings pending (nor, to
the knowledge of any Loan Party, any actions, suits or proceedings threatened in writing) against or in any other way adversely affecting the Parent, the Borrower, any other Loan Party, any other Subsidiary of the Parent or any of their respective
property in any court or before any arbitrator of any kind or before or by any other Governmental Authority which, individually or in the aggregate, (i) could reasonably be expected to have a Material Adverse Effect or (ii) in any manner draws into
question the validity or enforceability of any Loan Document. There are no strikes, slow downs, work stoppages or walkouts or other labor disputes in progress or threatened in writing with respect to, the Parent, the Borrower, any Loan Party or
any other Subsidiary of the Parent that could reasonably be expected to have a Material Adverse Effect. 
 (j)
Taxes. All Tax returns of each of the Parent, the Borrower, each other Loan Party and each other Subsidiary of the Parent required by Applicable Law to be filed have been duly filed (taking into account any extensions of time within
which to file such Tax returns), and all Taxes upon, each of the Parent, the Borrower, each Loan Party, each other Subsidiary of the Parent and their respective properties, income, profits and assets which are due and payable have been paid,
except any such nonpayment or non-filing (x) which is being contested in good faith by appropriate proceedings which operate to suspend the collection thereof and for which adequate reserves have been established on the books of such Person in
accordance with GAAP or (y) in respect of which the failure to do so would not be reasonably be expected to have a Material Adverse Effect. All charges, accruals and reserves on the books of the Parent, the Borrower, the other Loan Parties and
the other Subsidiaries of the Parent in respect of any Taxes are in accordance with GAAP. 
 (k) Financial Statements.
The Borrower has furnished to the Administrative Agent copies of (i) the audited consolidated balance sheet of the Parent and its consolidated Subsidiaries for the fiscal years ended December 31, 2014 and December 31, 2015, and the
related audited consolidated statements of operations, shareholders’ equity and cash flow for the fiscal years ended on such dates, with the opinions thereon of Grant Thornton LLP and Deloitte & Touche LLP, respectively, and (ii) as of
the Effective Date, the financials required to be delivered pursuant to Section 6.2(d). Such financial statements (including in each case related schedules and notes) are complete and correct in all material respects and present fairly, in
accordance with GAAP consistently applied throughout the periods involved, the consolidated financial position of the Parent and its consolidated Subsidiaries as at their respective dates and the results of operations and the cash flow for such
periods (subject, as to interim statements, to changes resulting from normal year-end audit adjustments and the absence of footnotes). None of the Parent, the Borrower or any of their respective Subsidiaries has on the Agreement Date any material
contingent liabilities, liabilities, liabilities for taxes, unusual or long-term commitments or unrealized or forward anticipated losses from any unfavorable commitments that would be required to be set forth in its financial statements or notes
thereto, except as referred to or reflected or provided for in said financial statements. 
 (l) No Material Adverse
Change; Solvency. Since December 31, 2015, there has been no event, change, circumstance or occurrence that could reasonably be expected to have a Material Adverse Effect. On a consolidated basis, the Parent and its Subsidiaries
are Solvent. 

  
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 (m) ERISA. 

(i) Each Benefit Arrangement is in compliance with the applicable provisions of ERISA, the Internal Revenue Code and other
Applicable Law, except to the extent any such non-compliance could not reasonably be expected to have a Material Adverse Effect. Except with respect to Multiemployer Plans, each Qualified Plan has received a favorable determination or opinion letter
from the Internal Revenue Service or a timely application for such letter has been filed with the Internal Revenue Service and is currently being processed by the Internal Revenue Service. To the knowledge of the Parent and the Borrower, nothing has
occurred which would cause the loss of its reliance on each Qualified Plan’s favorable determination letter or opinion letter. 

(ii) No material Benefit Arrangement is a retiree welfare benefit arrangement, other than as required by applicable Law. 

(iii) Except as could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect: (i) no
ERISA Event has occurred or is reasonably expected to occur; (ii) there are no pending, or to the best knowledge of the Parent and the Borrower, threatened in writing, claims, actions or lawsuits or other action by any Governmental Authority, plan
participant or beneficiary with respect to a Benefit Arrangement; (iii) there are no violations of the fiduciary responsibility rules with respect to any Benefit Arrangement; and (iv) no member of the ERISA Group has engaged in a non-exempt
“prohibited transaction,” as defined in Section 406 of ERISA and Section 4975 of the Internal Revenue Code, in connection with any Plan, that would subject any member of the ERISA Group to a tax on prohibited transactions imposed by
Section 502(i) of ERISA or Section 4975 of the Internal Revenue Code. 
 (n) Absence of Default. None of the
Parent, the Borrower, the other Loan Parties or any of the other Subsidiaries of the Parent is in default under its certificate of formation or articles of incorporation, bylaws, limited liability company agreement, partnership agreement or other
similar organizational documents, except as could not reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing. 

(o) Environmental Laws. Each of the Parent, the Borrower, each other Loan Party and the other Subsidiary of the Parent:
(i) is in compliance with all Environmental Laws applicable to its business, operations and the Properties, (ii) has obtained all Governmental Approvals which are required under Environmental Laws, and each such Governmental Approval is in full
force and effect, and (iii) is in compliance with all terms and conditions of such Governmental Approvals, where with respect to each of the immediately preceding clauses (i) through (iii) the failure to obtain or to comply with could reasonably be
expected to have a Material Adverse Effect. Except for any of the following matters that could not reasonably be expected to have a Material Adverse Effect, no Loan Party has any knowledge of, or has received notice of, any past, present, or pending
releases, events, conditions, circumstances, activities, practices, incidents, facts, occurrences, actions, or plans that, with respect to any Loan Party or any other Subsidiary of the Parent, their respective businesses, operations or with respect
to the Properties, may: (x) cause or contribute to an actual or alleged violation of or noncompliance with Environmental Laws, (y) cause or contribute to any other potential common law or legal claim or other liability, or (z) cause any of the
Properties to become subject to any restrictions on ownership, occupancy, use or transferability under any Environmental Law or require the filing or recording of any notice, approval or disclosure document under any Environmental Law and, with
respect to the immediately preceding clauses (x) through (z) is based on or related to the on-site or off-site manufacture, generation, processing, distribution, use, treatment, storage, disposal, transport, removal, clean up or handling, or the
emission, discharge, release or threatened release of any wastes or Hazardous Material, or any other requirement under Environmental Law. There is no civil, criminal, or administrative action, suit, demand, claim, hearing, notice, or demand letter,
mandate, order, lien, request, investigation, or proceeding pending or, to the Parent’s or the Borrower’s knowledge after due inquiry, threatened, against the Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent
relating in any way to Environmental Laws which, reasonably could be expected to have a Material Adverse Effect. To the knowledge of the Parent or the Borrower, none of the Properties is listed on or proposed for listing on the National Priority
List promulgated pursuant to the Comprehensive Environmental Response, Compensation and Liability Act of 1980 and its implementing 

  
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regulations, or any state or local priority list promulgated pursuant to any analogous state or local law. To the Parent’s or the Borrower’s knowledge, no Hazardous Materials generated
at or transported from the Properties are or have been transported to, or disposed of at, any location that is listed or proposed for listing on the National Priority List or any analogous state or local priority list, or any other location that is
or has been the subject of a clean-up, removal or remedial action pursuant to any Environmental Law, except to the extent that such transportation or disposal could not reasonably be expected to result in a Material Adverse Effect. 

(p) Investment Company. None of the Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent is
(i) an “investment company” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended, or (ii) subject to any other Applicable Law which purports to
regulate or restrict its ability to borrow money or obtain other extensions of credit or to consummate the transactions contemplated by this Agreement or to perform its obligations under any Loan Document to which it is a party. 

(q) Margin Stock. None of the Parent, the Borrower, any other Loan Party or any Subsidiary of the Parent is engaged
principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying “margin stock” within the meaning of Regulation U of the Board of
Governors of the Federal Reserve System. 
 (r) Intellectual Property. Each of the Parent, the Borrower, any other
Loan Party and any other Subsidiary of the Parent owns or has the right to use, under valid license agreements or otherwise, all patents, licenses, franchises, trademarks, trademark rights, service marks, service mark rights, trade names, trade name
rights, trade secrets and copyrights (collectively, “Intellectual Property”) necessary to the conduct of its businesses, without known conflict with any patent, license, franchise, trademark, trademark right, service mark, service
mark right, trade secret, trade name, copyright, or other proprietary right of any other Person except, in each case, where the failure to own or have the right to use such Intellectual Property or such contract, could not reasonably be expected to
have a Material Adverse Effect. All such Intellectual Property is fully protected and/or duly and properly registered, filed or issued in the appropriate office and jurisdictions for such registrations, filing or issuances, except to the extent as
could not reasonably be expected to have a Material Adverse Effect. No material claim has been asserted in writing by any Person against Parent, the Borrower, any other Loan Party or any other Subsidiary with respect to the use of any such
Intellectual Property by the Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent, or challenging or questioning the validity or effectiveness of any such Intellectual Property, the adverse determination of which could
reasonably be expected to have a Material Adverse Effect. The use of such Intellectual Property (to the knowledge of the Loan Parties, with respect to any licensed Intellectual Property) by the Parent, the Borrower, the other Loan Parties and the
other Subsidiaries of the Parent does not infringe on the rights of any Person, subject to such claims and infringements as do not, in the aggregate, give rise to any liabilities on the part of the Parent, the Borrower, any other Loan Party or any
other Subsidiary of the Parent that could reasonably be expected to have a Material Adverse Effect. 
 (s)
[Reserved] 
 (t) Accuracy and Completeness of Information. (a) All written information, other than
Projections, other forward looking information and information of a general economic or general industry nature, that has been or is hereafter made available to the Administrative Agent or any Lender by or on behalf of the Parent, the Borrower or
any representative of the Parent or the Borrower, taken as a whole, is and will be when furnished and taken as a whole, correct in all material respects, and does not and will not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements contained therein, in light of the circumstances under which they were made, not misleading (in each case after giving effect to all supplements and updates provided thereto) and (b) all financial
projections concerning the Parent and the Borrower that have been or are hereafter made available to the Administrative Agent or any Lenders by or on behalf of you or any of your representatives (the “Projections”) have been or will
be prepared in good faith based upon assumptions that the Parent and the Borrower believe to be reasonable at the time made and at the time such Projections or other forward 

  
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looking information are delivered to the Administrative Agent or any Lender; it being understood and agreed that such Projections and other forward looking information are merely a prediction as
to future events and are not to be viewed as facts, the Projections are subject to significant uncertainties and contingencies, many of which are beyond the control of the Parent and the Borrower, that actual results during the period or periods
covered by any such Projections and other forward looking information may differ significantly from the projected results and such differences may be material, and no assurance can be given that the projected results will be realized. 

(u) Not Plan Assets; No Prohibited Transactions. None of the assets of the Parent, the Borrower, any other Loan Party or
any other Subsidiary of the Parent constitutes “plan assets” within the meaning of ERISA, the Internal Revenue Code and the respective regulations promulgated thereunder. Assuming that no Lender funds any amount payable by it hereunder
with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, the execution, delivery and performance of this Agreement and the other Loan Documents, and the extensions of credit and repayment of amounts hereunder, do not and will
not constitute “prohibited transactions” under ERISA or the Internal Revenue Code. 
 (v) Sanctions;
Anti-Corruption Laws. The Parent, its Subsidiaries and, to the knowledge of their respective chief executive officer, chief financial officer or general counsel, each of their officers, employees, directors and agents to the extent acting on
behalf of the Parent or its Subsidiaries, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects and are not knowingly engaged in any activity that would reasonably be expected to result in the Parent being
designated as a Sanctioned Person. None of the Parent, its Subsidiaries or, to the knowledge of the Parent, any of their respective directors, officers, employees or agents that will act in any capacity in connection with or benefit from the
credit facility established hereby, is a Sanctioned Person. No Credit Event, use of proceeds or other transaction contemplated by this Agreement will violate any Anti-Corruption Law or applicable Sanctions. 

(w) REIT Status. The Parent qualifies as, and has elected to be treated as, a REIT and is in compliance with all
requirements and conditions imposed under the Internal Revenue Code to allow the Parent to maintain its status as a REIT. 

(x) Collateral Matters. The Pledge Agreement, upon execution and delivery thereof by the parties thereto, is
effective to create in favor of the Administrative Agent, for the benefit of the Lender Parties, a legal, valid and enforceable security interest in the Pledged Collateral described therein and proceeds thereof and (i) when the Pledged
Collateral described therein constituting certificated Equity Interests is delivered to the Administrative Agent, together with instruments of transfer duly endorsed in blank, the security interest created under the Pledge Agreement in such Pledged
Collateral will constitute a fully perfected security interest in all right, title and interest of the Loan Parties in such Pledged Collateral (subject to any limitations specified therein) to the extent perfection of such security interest can be
perfected by control of securities (as defined in the UCC), prior and superior in right to any other Person, but subject to Permitted Liens, and (ii) when financing statements in appropriate form are filed in the applicable filing offices, the
security interest created under the Pledge Agreement in all the Pledged Collateral will constitute a fully perfected security interest in all right, title and interest of the Loan Parties in such Pledged Collateral (subject to any limitations
specified therein) to the extent perfection of such security interest can be obtained by filing Uniform Commercial Code financing statements in such filing offices, prior and superior in right to any other Person, but subject to Permitted Liens.

 (y) Patriot Act. Each of the Borrower and its Subsidiaries is in compliance in all material respects with the
Patriot Act. 
 Section 7.2 Survival of Representations and Warranties, Etc. 

All statements contained in any certificate, financial statement or other instrument delivered by or on behalf of the Parent, the Borrower,
any other Loan Party or any other Subsidiary of the Parent to the Administrative Agent or any Lender pursuant to or in connection with this Agreement or any of the other Loan Documents (including, but not limited to, any such statement made in or in
connection with any amendment thereto or any statement contained 

  
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in any certificate, financial statement or other instrument delivered by or on behalf of any Loan Party prior to the Agreement Date and delivered to the Administrative Agent or any Lender in
connection with the underwriting or closing the transactions contemplated hereby) shall constitute representations and warranties made by the Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent under this
Agreement. All such representations and warranties shall survive the effectiveness of this Agreement, the execution and delivery of the Loan Documents and the making of the Loans. 

ARTICLE VIII 

AFFIRMATIVE COVENANTS 

Until the Termination Date, the Parent and the Borrower shall, and shall cause each other Loan Party and Subsidiary thereof to, comply with
the following covenants: 
 Section 8.1 Preservation of Existence and Similar Matters. 

Except as otherwise permitted under Section 10.4, each of the Parent and the Borrower shall, and shall cause each other Loan Party and each
other Subsidiary of the Parent to, (i) preserve and maintain its respective existence, (ii) take reasonable action to preserve and maintain its rights, franchises, licenses and privileges in the jurisdiction of its incorporation or formation
necessary for the conduct of its respective business and (iii) qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification and
authorization in each case of clauses (i) (except with respect to any Loan Party), (ii) and (iii), except to the extent such failure to do so could not reasonably be expected to have a Material Adverse Effect. 

Section 8.2 Compliance with Applicable Law. 

The Parent and the Borrower shall comply, and shall cause each other Loan Party and each other Subsidiary of the Parent to comply, with all
Applicable Law, including the obtaining of all Governmental Approvals, in each case, except to the extent that the failure to so comply could not reasonably be expected to have a Material Adverse Effect. The Parent and the Borrower will maintain in
effect and enforce policies and procedures designed to ensure compliance with Anti-Corruption Laws and applicable Sanctions. 
 Section 8.3
Maintenance of Property. 
 In addition to the requirements of any of the other Loan Documents, the Parent and the Borrower shall,
and shall cause each other Loan Party and each other Subsidiary of the Parent to, protect and preserve all of its properties, including, but not limited to, all Intellectual Property, necessary to the conduct of its respective business, and maintain
in good repair, working order and condition all tangible properties, ordinary wear and tear excepted, in each case except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

Section 8.4 Conduct of Business. 

The Parent and the Borrower shall, and shall cause each other Loan Party and each other Subsidiary of the Parent to, directly or indirectly,
engage only in a material line of business or any business substantially related, incidental or ancillary thereto that is substantially similar to such line of business conducted by the Parent, the Borrower, such Loan Party or such other Subsidiary
of the Parent on the Effective Date. 
 Section 8.5 Insurance. 

In addition to the requirements of any of the other Loan Documents, the Parent and the Borrower shall, and shall cause each other Loan Party
and each other Subsidiary of the Parent to, maintain insurance (on a replacement cost basis) with financially sound and reputable insurance companies against such risks and in such amounts determined by such Person in its prudent business judgment
or as may be required by Applicable Law. The Parent and the Borrower shall deliver to the Administrative Agent upon request (but in no event more frequently than once 

  
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per calendar year unless an Event of Default has occurred and is continuing) a detailed list, together with, to the extent requested by the Administrative Agent, copies of all policies of the
insurance then in effect, stating the names of the insurance companies, the amounts and rates of the insurance, the dates of the expiration thereof and the properties and risks covered thereby. 

Section 8.6 Payment of Taxes and Claims. 

The Parent and the Borrower shall, and shall cause each other Loan Party and each other Subsidiary of the Parent to, pay and discharge when
due (a) all Taxes imposed upon it or upon its income or profits or upon any properties belonging to it, and (b) all lawful claims of materialmen, mechanics, carriers, warehousemen and landlords for labor, materials, supplies and rentals which, if
unpaid, might become a Lien on any properties of such Person (other than any Permitted Lien); provided, however, that this Section shall not require the payment or discharge of any such Tax (x) which is being contested in good faith by
appropriate proceedings and for which adequate reserves have been established on the books of such Person in accordance with GAAP or (y) in respect of which the failure to do so could not be reasonably be expected to have a Material Adverse Effect.

 Section 8.7 Books and Records; Inspections. 

The Parent and the Borrower shall, and shall cause each other Loan Party and each other Subsidiary of the Parent to, keep proper books of
record and account in which entries that are, in all material respects, full, true and correct shall be made of all financial dealings and transactions in relation to its business and assets. The Parent and the Borrower shall, and shall cause
each other Loan Party and each other Subsidiary of the Parent to, permit representatives of the Administrative Agent (which may be accompanied by representatives or independent contractors of one of more Lenders) to visit and inspect, subject to the
rights of tenants, any of their respective properties, to examine and make abstracts from any of their respective books and records and to discuss their respective affairs, finances and accounts with their respective officers, employees and
independent public accountants (in the presence of an officer of the Parent), all at such reasonable times during business hours, with reasonable prior notice; provided, that unless an Event of Default has occurred and is continuing,
such visits and inspections shall be limited to once in any calendar year; provided, further, that if an Event of Default has occurred and is continuing, the Administrative Agent may be accompanied by any requesting Lender and any
representatives, agents and designees of such Lender. The Parent and the Borrower shall be obligated to reimburse (a) the Administrative Agent for its costs and expenses incurred in connection with any annual visit or inspection described above
conducted prior to the occurrence or continuance of any Event of Default and (b) the Administrative Agent and the Lenders for their costs and expenses incurred in connection with the exercise of their rights under this Section only if such exercise
occurs while an Event of Default exists. The Parent hereby authorizes and instructs its accountants to discuss the financial affairs of the Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent with the Administrative
Agent or any Lender. Notwithstanding the foregoing, in no event shall the Parent, the Borrower, any Loan Party or any Subsidiary be required to disclose or make available any information hereunder to the extent that such disclosure would (i)
vitiate any applicable attorney-client privilege or (ii) violate any applicable fiduciary duty or confidentiality obligation due to another party. 

Section 8.8 Use of Proceeds. 

The Borrower will use the proceeds of Loans only to refinance a portion of the Borrower’s 2.00% Senior Notes due 2017 (the
“Existing Notes Refinancing”) and to pay costs, fees and expenses related to the Transactions. The Borrower shall not, and shall not permit any other Loan Party or any other Subsidiary to, use any part of such proceeds to purchase
or carry, or to reduce or retire or refinance any credit incurred to purchase or carry, any margin stock (within the meaning of Regulation U or Regulation X of the Board of Governors of the Federal Reserve System), other than share repurchases (so
long as such margin stock is cancelled immediately upon any such share repurchase) or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Neither the Borrower nor the Parent shall (and the Borrower and the
Parent shall procure that no other Subsidiary of the Parent or its or their respective directors, officers, employees and agents shall) use, lend, make payments of, contribute or otherwise make available, directly or, to the knowledge of any Loan
Party, indirectly, all or any part of the proceeds of the Loans to fund or finance any business activities or transactions (a) of or with a Sanctioned Person, (b) in furtherance of an offer, payment, promise to pay, or authorization of the
payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (c) for the purpose of unlawfully 

  
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funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (d) in any other manner which would result in
(i) a violation of any Sanctions or Anti-Corruption Laws or (ii) becoming a Sanctioned Person. 
 Section 8.9 Environmental
Matters. 
 The Parent and the Borrower shall, and shall cause each other Loan Party and each Subsidiary of the Parent to, comply with
all Environmental Laws, except to the extent that the failure to so comply could not reasonably be expected to have a Material Adverse Effect. Except as could not reasonably be expected to have a Material Adverse Effect, the Parent and the
Borrower shall not cause or allow, and shall take commercially reasonable efforts to prevent any other Loan Party, each Subsidiary or tenant from causing or allowing a third party to cause, any release or spill or Hazardous Materials at, on or from
the Properties in violation of or in a manner that could reasonably be expected to lead to any material Environmental Claim against the Parent, the Borrower or any Loan Party or the imposition of a Lien related to Environmental Law at any
Property. The Parent and the Borrower shall, and shall cause each other Loan Party and each Subsidiary of the Parent to, promptly take all actions to remove and dispose of all Hazardous Materials from the Properties and to clean up the
Properties as required under Environmental Laws, except where the failure to take such actions could reasonably be expected to have a Material Adverse Effect. The Parent and the Borrower shall, and shall cause each other Loan Party and each
Subsidiary of the Parent to, promptly take all actions necessary to prevent the imposition of any Liens on any of their respective properties arising out of or related to any Environmental Laws. Nothing in this Section shall impose any
obligation or liability whatsoever on the Administrative Agent or any Lender. 
 Section 8.10 Broker-Dealer Subsidiaries. 

The Parent and the Borrower shall cause each Broker-Dealer Subsidiary to maintain at all times Regulatory Net Capital in compliance with
Applicable Laws. 
 Section 8.11 [Reserved]. 

Section 8.12 REIT Status. 

The Parent shall maintain its status as, and election to be treated as, a REIT under the Internal Revenue Code. 

Section 8.13 Exchange Listing. 

The Parent shall maintain at least one class of common shares of the Parent having trading privileges on the New York Stock Exchange or NYSE
Amex Equities or which is subject to price quotations on The NASDAQ Stock Market’s National Market System. 
 Section 8.14
Guarantors. 
 (a) (x) Within fifteen (15) Business Days of any Person becoming a Subsidiary of the Parent owning a direct or
indirect interest in the Borrower after the Agreement Date, or (y) substantially concurrently with any Subsidiary of the Parent (other than the Borrower) entering into any Guarantee of Indebtedness of any Loan Party (other than Indebtedness
described on Schedule 8.14 on the Effective Date), the Parent, the Borrower and such Subsidiary shall deliver to the Administrative Agent each of the following: (i) an Accession Agreement executed by such Subsidiary and (ii) the items that
would have been delivered under subsections (iv) through (viii) of Section 6.2(a) and under Section 6.1(d) if such Subsidiary had been a Guarantor on the Effective Date, in form and substance substantially consistent with such items
delivered on the Effective Date or otherwise reasonably satisfactory to the Administrative Agent. 
 (b) The Borrower may request in writing
that the Administrative Agent release, and upon receipt of such request the Administrative Agent shall release, a Subsidiary Guarantor from the Guaranty so long as: (i) such Subsidiary Guarantor is not otherwise required to be a party to the
Guaranty under the immediately preceding 

  
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subsection (a) (after giving effect to clause (ii) hereof); (ii) such Subsidiary Guarantor no longer Guarantees (or which Guarantee is being substantially concurrently released) any other
Indebtedness of any Loan Party; (iii) no Default or Event of Default shall then be in existence or would occur as a result of such release, including without limitation, a Default or Event of Default resulting from a violation of any of the
covenants contained in Section 10.1; and (iv) the Administrative Agent shall have received such written request at least five (5) Business Days (or such shorter period as may be acceptable to the Administrative Agent) prior to the requested date of
release. Delivery by the Borrower to the Administrative Agent of any such request shall constitute a representation by the Parent and the Borrower that the conditions set forth in the preceding sentence are or will be satisfied as of the
requested date of release. 
 Section 8.15 Further Assurances; Additional Security. 

With respect to any Subsidiary that owns, operates or leases a Designated Eligible Property, the Borrower shall (i) cause the direct
parent of such Subsidiary within 30 days of the date that any Property owned by such Subsidiary becomes a Designated Eligible Property to become a party to the Pledge Agreement as a Grantor, (ii) execute and deliver to the Administrative Agent
such supplements to the Pledge Agreement or any additional Collateral Documents (including the items under clauses (ii) and (iii) of Section 6.2(f)), as the Administrative Agent deems necessary or advisable to grant to the Administrative
Agent, for the benefit of the Lender Parties, a perfected first priority security interest in the Equity Interests of such new Subsidiary, and (iii) deliver to the Administrative Agent the certificates, if any, representing such Equity
Interests together with undated stock powers, in blank, executed and delivered by a duly authorized officer of the relevant Loan Party; it being understood and agreed that inclusion of any such property or asset as a Designated Eligible Property
shall be subject to satisfaction of the foregoing requirements and all other applicable requirements hereunder. Notwithstanding the foregoing, none of the Parent, the Borrower or any Subsidiary shall be required to comply with the provisions of
this Section 8.15 during any Collateral Suspension Period. 
 Section 8.16 Removal of Designated Eligible Properties
– Borrower. 
 From time to time during the term of this Agreement (other than during a Collateral Suspension
Period), following (i) the Borrower’s written request that a Property no longer be considered a Designated Eligible Property (each, a “Release Request”) and (ii) satisfaction of the Release Conditions (as defined below), the
Administrative Agent shall promptly release the Lien on the Equity Interests of the Subsidiary owning such Property, and thereafter, such Property shall no longer be a Designated Eligible Property for the purposes of this Agreement. The
“Release Conditions” are the following: 
 (a) The Borrower shall have delivered an interim Designated
Eligible Property Certificate dated as of the date of the Release Request duly executed by a Responsible Officer of the Borrower setting forth a calculation of the Designated Eligible Property Asset Value after giving effect to the removal of such
Property and any concurrent additions of Designated Eligible Property, in each case as of the date of the Release Request; provided that such Designated Eligible Property Certificate shall only be given effect in subsequent determinations of
the Designated Eligible Property Asset Value upon satisfaction of all other Release Conditions. 
 (b) Upon the removal of
such Property and any concurrent additions of Designated Eligible Property, in each case as of the date of the Release Request, the Borrower shall be in compliance with the financial covenants set forth in Section 10.1. 

(c) No Default or Event of Default shall exist and be continuing under this Agreement or the other Loan Documents at the time
of the Release Request or would exist immediately after giving effect to the removal of such Property from the Designated Eligible Property Pool and any concurrent additions of Designated Eligible Property on the date of such Release Request. 

(d) Each of the representations and warranties made by the Borrower or any Loan Party in or pursuant to the Loan Documents
shall be true and correct in all material respects (or if qualified by materiality or Material Adverse Effect, in all respects) on and as of the date of such Release Request, both before and immediately after giving effect to the removal of such
Property from the Designated Eligible 

  
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Property Pool and any concurrent additions of Designated Eligible Property on the date of such Release Request, as if made on and as of the date of such Release Request (except where such
representations and warranties relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects (or, if qualified by materiality or Material Adverse Effect, in all respects) as of
such earlier date). 
 Section 8.17 Removal of Designated Eligible Properties – Administrative Agent. 

Any Designated Eligible Property shall no longer be deemed to be a Designated Eligible Property for any purposes of this Agreement (including
any extension of credit hereunder) upon the reasonable determination by the Administrative Agent, in consultation with the Borrower, that such Designated Eligible Property ceases to meet the requirements in the definition of “Designated
Eligible Property.” 
 Upon notice by the Administrative Agent to the Borrower, the Borrower shall promptly (and in any event within
five (5) Business Days) deliver an interim Designated Eligible Property Certificate duly executed by a Responsible Officer of the Borrower setting forth a calculation of the Designated Eligible Property Asset Value giving effect to the removal of
the subject Designated Eligible Property and any concurrent additions of Designated Eligible Property. 
 Section 8.18 Additional
Designated Eligible Properties. 
 From time to time (other than during a Collateral Suspension Period) during the term of this
Agreement (including in connection with any Permitted Acquisition), the Borrower may designate one or more additional Properties as a Designated Eligible Property, effective upon notice to the Administrative Agent and satisfaction of the following
conditions (such conditions, the “Addition Conditions”): 
 (a) The proposed Designated Eligible Property
shall satisfy the requirements in the definition of “Designated Eligible Property.” 
 (b) The Borrower and the
applicable Loan Parties shall have executed and delivered any applicable Loan Documents or supplements thereto and shall comply with the requirements in Section 8.15. 

(c) No Default or Event of Default shall exist and be continuing under this Agreement or the other Loan Documents at the time
of such addition or would result immediately after giving effect to such addition. 
 (d) Each of the representations and
warranties made by the Borrower or any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material respects (or if qualified by materiality or Material Adverse Effect, in all respects) on and as of the date of such
addition, both before and immediately after giving effect to such addition, as if made on and as of the date of such addition (except where such representations and warranties relate to an earlier date, in which case such representations and
warranties shall have been true and correct in all material respects (or, if qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date). 

  
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 Section 8.19 [Reserved]. 

Section 8.20 Collateral Reinstatement. If, subsequent to any Ratings Upgrade and release of liens on Collateral, a Ratings Downgrade
shall occur, the Collateral Suspension Period shall terminate and all Collateral and the Collateral Documents, and all Liens and security interests granted or purported to be granted therein, shall be reinstated within thirty (30) days of such
Ratings Downgrade (or such longer period as the Administrative Agent may agree in its reasonable discretion) (the date of such reinstatement, the “Collateral Reinstatement Date”), on the same terms as were required
immediately prior to the last Ratings Upgrade, and the Loan Parties shall take all actions and execute and deliver all notices and documents, including the delivery of a new pledge agreement and UCC-1 financing statements and stock certificates
accompanied by stock powers reasonably requested by the Administrative Agent as may be necessary to create and perfect the liens of the Administrative Agent in such Collateral and all documents required by Section 6.2(f) together with such
officer’s certificates, secretary’s certificates and opinions as may be requested by the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent, in each case on or prior to the Collateral
Reinstatement Date. 
 ARTICLE IX 

INFORMATION 
 For so long
as this Agreement is in effect, the Parent and the Borrower shall furnish to the Administrative Agent for distribution to each of the Lenders: 

Section 9.1 Quarterly Financial Statements. 

As soon as available and in any event within five (5) days after the same is required to be filed with the SEC (but in no event later than
forty five (45) days after the end of each of the first, second and third fiscal quarters of the Parent), the unaudited consolidated balance sheet of the Parent and its Subsidiaries as at the end of such period and the related unaudited consolidated
statements of operations, income and cash flows of the Parent and its Subsidiaries for such period, setting forth in each case in comparative form the figures as of the end of and for the corresponding periods of the previous fiscal year, all of
which shall be certified by a Responsible Officer of the Parent, in his or her opinion, to present fairly, in accordance with GAAP and in all material respects, the consolidated financial position of the Parent and its Subsidiaries as at the date
thereof and the results of operations for such period (subject to the absence of footnotes and normal year-end audit adjustments). 

Section 9.2 Year End Statements. 

As soon as available and in any event within five (5) days after the same is required to be filed with the SEC (but in no event later than
ninety (90) days after the end of each fiscal year of the Parent), the audited consolidated balance sheet of the Parent and its Subsidiaries as at the end of such fiscal year and the related audited consolidated statements of operations, income,
stockholders’ equity and cash flows of the Parent and its Subsidiaries for such fiscal year, setting forth in comparative form the figures as at the end of and for the previous fiscal year, all of which shall (a) present fairly, in accordance
with GAAP and in all material respects, the financial position of the Parent and its Subsidiaries as at the date thereof and the result of operations for such period and (b) accompanied by an unqualified report thereon of Deloitte & Touche LLP
or any other independent certified public accountants of recognized national standing reasonably acceptable to the Administrative Agent (it being acknowledged that any of the “Big 4” accounting firms shall be acceptable to the
Administrative Agent), whose report shall not be subject to (i) any “going concern” or like qualification or exception (other than a qualification indicating that the Obligations under the Term Loans have become current liabilities within
the year prior to the Term Loan Maturity Date) or (ii) any qualification or exception as to the scope of such audit. 
 Section 9.3
Compliance Certificate; Designated Eligible Property Certificate. 
 At the time the financial statements are furnished pursuant to
Sections 9.1 and 9.2, (a) a certificate substantially in the form of Exhibit R (a “Compliance Certificate”) executed on behalf of the Parent by a Responsible Officer of the Parent (i) setting forth in reasonable detail as of the end
of such fiscal quarter or fiscal 

  
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year, as the case may be, the calculations required to establish whether the Parent was in compliance with the covenants contained in Sections 10.1 and 10.8; (ii) stating that no Default or Event
of Default exists, or, if such is not the case, specifying such Default or Event of Default and its nature, when it occurred and the steps being taken by the Parent with respect to such event, condition or failure and (b) a Designated Eligible
Property Certificate. 
 Section 9.4 Other Information. 

(a) Promptly upon receipt thereof, copies of any detailed audit or review reports commissioned in connection with any review of financial
statements, reports, if any, submitted to the Parent or the Borrower or its Board of Directors by its independent public accountants; 
 (b)
Within five (5) Business Days of the filing thereof, copies of all registration statements (excluding the exhibits thereto (unless requested by the Administrative Agent) and any registration statements on Form S-8 or its equivalent), reports on
Forms 10 K, 10 Q and 8 K (or their equivalents) and all other periodic reports which any Loan Party or any other Subsidiary of the Parent shall file with the SEC; 

(c) Concurrent with the delivery of the financial statements referred to in Section 9.2, projected balance sheets, operating statements,
profit and loss projections and cash flow budgets of the Parent and its Subsidiaries on a consolidated basis for each quarter of the next succeeding fiscal year, all itemized in reasonable detail; 

(d) If any ERISA Event shall occur that individually, or together with any other ERISA Event that has occurred, could reasonably be expected
to have a Material Adverse Effect, a certificate of the chief executive officer or chief financial officer of the Parent setting forth details as to such occurrence and the action, if any, which the Parent or applicable member of the ERISA Group is
required or proposes to take; 
 (e) To the extent the Parent or the Borrower is aware of the same, prompt notice of the commencement of any
proceeding or investigation by or before any Governmental Authority and any action or proceeding in any court or other tribunal or before any arbitrator against or in any other way relating to, or affecting, the Parent, the Borrower, any other Loan
Party or any Subsidiary of the Parent or any of their respective properties, assets or businesses which could reasonably be expected to have a Material Adverse Effect; 

(f) [Reserved]; 
 (g) Prompt
notice of the occurrence of any other event which has had, or could reasonably be expected to have, a Material Adverse Effect; 
 (h) Prompt
notice of the occurrence of any Default or Event of Default; 
 (i) [Reserved]; 

(j) Prompt notice of any order, judgment or decree having been entered against any Loan Party or any other Subsidiary of the Parent or any of
their respective properties or assets that could reasonably be expected to have a Material Adverse Effect; 
 (k) [Reserved]; 

(l) [Reserved]; 
 (m) Promptly,
upon any change in the Borrower’s Credit Rating, written notice stating that the Borrower’s Credit Rating has changed and the new Credit Rating that is in effect and whether such change in Credit Rating constitutes a Ratings Upgrade or
Ratings Downgrade; 
 (n) [Reserved]; 

  
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 (o) [Reserved]; 

(p) [Reserved]; and 

(q) From time to time and promptly upon each request, such data, certificates, reports, statements, documents or further information regarding
the business, assets, liabilities, financial condition or results of operations of the Parent, the Borrower, any Subsidiaries of the Parent, or any other Loan Party as the Administrative Agent or any Lender may reasonably request. 

Section 9.5 Electronic Delivery of Certain Information. 

(a) Documents required to be delivered pursuant to the Loan Documents may be delivered by electronic communication and delivery, including,
the Internet, e-mail or intranet websites to which the Administrative Agent and each Lender have access (including a commercial, third-party website or a website sponsored or hosted by the Administrative Agent, the Parent or the Borrower)
provided that the foregoing shall not apply to (i) notices to any Lender pursuant to Article II and (ii) any Lender that has notified the Administrative Agent, the Parent and the Borrower that it cannot or does not want to receive electronic
communications. The Administrative Agent, the Parent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic delivery pursuant to procedures approved by it for all or particular
notices or communications. Documents or notices delivered electronically shall be deemed to have been delivered at the date and time on which the Administrative Agent, the Parent or the Borrower posts such documents or the documents become
available on a commercial website and the Parent or Borrower notifies the Administrative Agent, for further notification to the Lenders, of said posting and provides a link thereto provided if such notice or other communication is not sent or
posted during the normal business hours of the recipient, said posting date and time shall be deemed to have commenced as of 9:00 a.m. Central time on the opening of business on the next business day for the recipient. Notwithstanding anything
contained herein, the Parent or the Borrower shall deliver paper copies of any documents to the Administrative Agent or to any Lender that requests such paper copies until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents delivered electronically, and in any event shall have no responsibility to monitor
compliance by the Parent or the Borrower with any such request for delivery. Each Lender shall be solely responsible for requesting delivery to it of paper copies and maintaining its paper or electronic documents. 

(b) Documents required to be delivered pursuant to Article II may be delivered electronically to a website provided for such purpose by the
Administrative Agent pursuant to the procedures provided to the Parent and the Borrower by the Administrative Agent. 
 Section 9.6
Public/Private Information. 
 Each of the Parent and the Borrower represents and warrants that it, its controlling Person and any
Subsidiary, in each case, if any, either (i) has no registered or publicly traded securities outstanding, or (ii) files its financial statements with the SEC and/or makes its financial statements available to potential holders of its 144A
securities, and, accordingly, the Borrower hereby (i) authorizes the Administrative Agent to make the financial statements to be provided under Sections 9.1 and 9.2 above, along with the Loan Documents, available to Public-Siders and (ii) agrees
that at the time such financial statements are provided hereunder, they shall already have been made available to holders of its securities. The Borrower will not request that any other material be posted to Public-Siders without expressly
representing and warranting to the Administrative Agent in writing that such materials do not constitute material non-public information within the meaning of the federal securities laws or that the Borrower has no outstanding publicly traded
securities, including 144A securities. 
 Section 9.7 USA Patriot Act Notice; Compliance. 

The Patriot Act and federal regulations issued with respect thereto require all financial institutions to obtain, verify and record certain
information that identifies individuals or business entities which open an “account” with such financial institution. Consequently, a Lender (for itself and/or as agent for all Lenders hereunder) may

  
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from time-to-time request, and the Parent and the Borrower shall, and shall cause the other Loan Parties and Subsidiaries of the Parent to, provide promptly upon any such request to such Lender,
such Loan Party’s or Subsidiary’s name, address, tax identification number and/or such other identification information as shall be necessary for such Lender to comply with federal law, including without limitation, applicable “know
your customer” and anti-money laundering rules and regulations). An “account” for this purpose may include, without limitation, a deposit account, cash management service, a transaction or asset account, a credit account, a loan or
other extension of credit, and/or other financial services product. 
 ARTICLE X 

NEGATIVE COVENANTS 
 Until
the Termination Date, the Parent and the Borrower shall, and shall cause each other Loan Party or Subsidiary thereof to, comply with the following covenants: 

Section 10.1 Financial Covenants. 

(a) Minimum Tangible Net Worth. The Parent and the Borrower shall not permit Tangible Net Worth at any time to be less than
$5,500,000,000. 
 (b) Ratio of Total Indebtedness to Total Asset Value. The Parent and the Borrower shall not permit the ratio
of (i) Total Indebtedness of the Parent and its Subsidiaries to (ii) Total Asset Value to exceed 0.60 to 1.00 at any time. Notwithstanding anything to the contrary contained herein, for the purposes of this ratio, (i) Total Indebtedness on any
date shall be adjusted by deducting therefrom an amount equal to the lesser of (x) the aggregate amount of Indebtedness outstanding on such date that by its terms is scheduled to mature on or before the date that is twenty-four (24) months following
such date and (y) the aggregate amount of all unrestricted cash and Cash Equivalents on such date and escrow and other deposits (excluding tenant deposits and other cash and Cash Equivalents that are subject to a Lien or a Negative Pledge or the
disposition of which is restricted in any way) to the extent available for the repayment of Indebtedness of the type described in clause (x) and (ii) Total Asset Value shall be adjusted by deducting therefrom the amount by which Total Indebtedness
is adjusted under clause (i). 
 (c) Ratio of Adjusted EBITDA to Fixed Charges. The Parent and the Borrower shall not permit the
ratio of (i) Adjusted EBITDA of the Parent and its Subsidiaries for any period of twelve consecutive calendar months to (ii) Fixed Charges of the Parent and its Subsidiaries for such period of twelve consecutive calendar months, to be less than 1.50
to 1.00 as of the last day of such period of twelve consecutive calendar months. 
 (d) Ratio of Secured Indebtedness to Total Asset
Value. The Parent and the Borrower shall not permit the ratio of (i) Secured Indebtedness of the Parent and its Subsidiaries to (ii) Total Asset Value to exceed 0.45 to 1.00 at any time. Notwithstanding anything to the contrary
contained herein, for the purposes of this ratio, (i) Secured Indebtedness on any date shall be adjusted by deducting therefrom an amount equal to the lesser of (x) the aggregate amount of Secured Indebtedness outstanding on such date that by its
terms is scheduled to mature on or before the date that is twenty-four (24) months following such date and (y) the aggregate amount of all unrestricted cash and Cash Equivalents on such date and escrow and other deposits (excluding (A) tenant
deposits and other cash and Cash Equivalents that are subject to a Lien or a Negative Pledge or the disposition of which is restricted in any way and (B) any such unrestricted cash and Cash Equivalents and escrow and other deposits used to determine
the Unsecured Indebtedness to Unencumbered Asset Value ratio) to the extent available for the repayment of Secured Indebtedness of the type described in clause (x) and (ii) Total Asset Value shall be adjusted by deducting therefrom the amount by
which Secured Indebtedness is adjusted under clause (i). 
 (e) Ratio of Unsecured Indebtedness to Unencumbered Asset Value. The
Parent and the Borrower shall not permit the ratio of (i) Unsecured Indebtedness of the Parent and its Subsidiaries to (ii) Unencumbered Asset Value to exceed 0.60 to 1.00 at any time. Notwithstanding anything to the contrary contained herein,
for the purposes of this ratio, (i) Unsecured Indebtedness on any date shall be adjusted by deducting therefrom an amount equal to the lesser of (x) the aggregate amount of Unsecured Indebtedness outstanding on such date that by its terms is
scheduled to mature on or before the date that is twenty-four (24) months following such date and (y) the aggregate amount of all unrestricted cash and Cash Equivalents on such date and escrow and other deposits

  
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(excluding (A) tenant deposits and other cash and Cash Equivalents that are subject to a Lien or a Negative Pledge or the disposition of which is restricted in any way and (B) any such
unrestricted cash and Cash Equivalents and escrow and other deposits used to determine the Secured Indebtedness to Total Asset Value ratio) to the extent available for the repayment of Unsecured Indebtedness of the type described in clause (x) and
(ii) Unencumbered Asset Value shall be adjusted by deducting therefrom the amount by which Unsecured Indebtedness is adjusted under clause (i). 

(f) Ratio of Unencumbered Adjusted NOI plus Unencumbered Management EBITDA to Unsecured Interest Expense. The
Parent and the Borrower shall not permit the ratio of (i) the sum of (x) Unencumbered Adjusted NOI for any period of twelve consecutive calendar months plus (y) Unencumbered Management EBITDA to (ii) Unsecured Interest Expense of the
Parent and its Subsidiaries for such period of twelve consecutive calendar months, to be less than 1.75 to 1.00 as of the last day of such period of twelve consecutive calendar months. 

(g) Minimum Unencumbered Asset Value. The Parent and the Borrower shall not permit the Unencumbered Asset Value to be less than
$8,000,000,000 at any time. 
 (h) Maximum Loan to Designated Eligible Property Asset Value Ratio. Except (i) during a Collateral
Suspension Period and (ii) following a Ratings Downgrade and before the applicable Collateral Reinstatement Date, the Parent and the Borrower shall not permit the ratio of (x) the aggregate amount of outstanding Term Loans on such date to
(y) Designated Eligible Property Asset Value to exceed 0.60 to 1.00 at any time (the “Maximum Loan to Designated Eligible Property Asset Value Ratio”).  

(i) Minimum Designated Eligible Property Debt Yield. Except (i) during a Collateral Suspension Period and (ii) following a Ratings
Downgrade and before the applicable Collateral Reinstatement Date, the Parent and the Borrower shall not permit (x) Designated Eligible Property Adjusted NOI divided by (y) the aggregate amount of outstanding Term Loans on such
date to be less than 11.50% at any time (the “Minimum Designated Eligible Property Debt Yield”). 
 Section 10.2 Liens;
Negative Pledge. 
 (a) The Parent and the Borrower shall not, and shall not permit any other Loan Party or any Subsidiary of the Parent
to, create, assume, or incur, permit or suffer to exist any Lien (other than Permitted Liens) upon any of its material properties, assets, income or profits of any character whether now owned or hereafter acquired if immediately prior to the
creation, assumption or incurring of such Lien, or immediately thereafter, a Default or Event of Default is or would be in existence resulting from a violation of any of the covenants contained in Section 10.1. 

(b) The Parent and the Borrower shall not, and shall not permit any other Loan Party or any Subsidiary of the Parent to, enter into, assume or
otherwise be bound by any Negative Pledge except for a Negative Pledge contained in (i) this Agreement and the other Loan Documents; (ii) any Indebtedness outstanding on the Agreement Date identified on Schedule 10.2; (iii) an agreement (x)
evidencing Indebtedness which the Parent, the Borrower, any other Loan Party or any Subsidiary of the Parent is not prohibited from creating, incurring, assuming, or permitting or suffering to exist under this Agreement, (y) which Indebtedness is
secured by a Lien not prohibited under the Loan Documents, and (z) which prohibits the creation of any other Lien on only the property (including proceeds or products thereof) securing such Indebtedness as of the date such agreement was entered
into; (iv) an agreement relating to the sale of a Subsidiary or assets pending such sale, provided that in any such case the Negative Pledge applies only to the Subsidiary or the assets that are the subject of such sale; (v) any prohibition
or limitation that exists pursuant to Applicable Law; (vi) any customary prohibitions that restrict subletting or assignment of any lease governing a leasehold interest of Parent, the Borrower or any Subsidiary of the Parent; (vii) joint venture
agreements or other similar arrangements if such provisions apply only to the Person (and the Equity Interests in such Person) that is the subject thereof; (viii) agreements or instruments that prohibit the payment of dividends or the making of
other distributions with respect to Equity Interests of a Person other than on a pro rata basis; (ix) customary restrictions and conditions contained in agreements relating to any acquisition or other investment that is otherwise permitted under
this Agreement; (x) any agreement in effect at the time a Person becomes a Subsidiary of the Parent, so long as such agreement was not entered into in connection with or in contemplation of such Person becoming a Subsidiary of the Parent, which
encumbrance or restriction is not 

  
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applicable to the properties or assets of any Loan Party or other Subsidiary of the Parent; and (xi) amendments, refinancings, extensions and renewals of any of the foregoing, to the extent
otherwise not prohibited, provided, that such amendments, refinancings, extensions and renewals are, taken as a whole, no more materially restrictive with respect to such prohibitions and limitations than those prior to such amendment,
refinancing, extension or renewal. 
 Section 10.3 Restrictions on Intercompany Transfers. 

The Parent and the Borrower shall not, and shall not permit any other Loan Party or any Subsidiary of the Parent to, create or otherwise cause
or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary (other than the Borrower) to: (a) pay dividends or make any other distribution on any of such Subsidiary’s capital
stock or other equity interests owned by the Parent, the Borrower or any Subsidiary of the Parent; (b) pay any Indebtedness owed to the Parent, the Borrower or any Subsidiary of the Parent; (c) make loans or advances to the Parent, the Borrower or
any Subsidiary of the Parent; or (d) transfer any of its property or assets to the Parent, the Borrower or any Subsidiary of the Parent; other than encumbrances or restrictions (i) contained in this Agreement and the other Loan Documents; (ii)
existing on the Agreement Date and identified on Schedule 10.3; (iii) contained in a Mortgage or any document, instrument or agreement relating to a Mortgage; (iv) relating to the sale of a Subsidiary or assets pending such sale to the extent such
sale is not prohibited under the Loan Documents, provided that in any such case, such encumbrance or restriction applies only to the Subsidiary or the assets that are the subject of such sale; (v) existing pursuant to Applicable Law; (vi)
consisting of customary prohibitions restricting subletting or assignment of any lease governing a leasehold interest of Parent, the Borrower or any Subsidiary of the Parent; (vii) consisting of joint venture agreements or other similar arrangements
if such provisions apply only to the Person (and the Equity Interests in such Person) that is the subject thereof; (viii) prohibiting the payment of dividends or the making of other distributions with respect to Equity Interests of a Person other
than on a pro rata basis; (ix) customarily contained in agreements relating to any acquisition or other investment that is otherwise permitted under this Agreement; (x) consisting of any agreement in effect at the time a Person becomes a Subsidiary
of the Parent, so long as such agreement was not entered into in connection with or in contemplation of such Person becoming a Subsidiary of the Parent, which encumbrance or restriction is not applicable to the properties or assets of any Loan Party
or other Subsidiary of the Parent; and (xi) relating to amendments, refinancings, extensions and renewals of any of the foregoing, to the extent otherwise not prohibited, provided, that such amendments, refinancings, extensions and
renewals are, taken as a whole, no more materially restrictive with respect to such prohibitions and limitations than those prior to such amendment, refinancing, extension or renewal. 

Section 10.4 Merger, Consolidation, Sales of Assets and Other Arrangements. 

The Parent and the Borrower shall not, and shall not permit any other Loan Party or any Subsidiary of the Parent to (a) merge or consolidate;
(b) liquidate, windup or dissolve itself (or suffer any liquidation or dissolution); (c) convey, sell, lease, sublease, transfer or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its business or
assets (a “Disposition”); or (d) acquire all or substantially all of the assets of, or all or substantially all of the Equity Interests of, any other Person; provided, however, that: 

(i) any Subsidiary of the Parent (other than the Borrower) may merge with (x) Parent or Borrower, provided that Parent
or Borrower, as applicable, shall be the continuing or surviving Person, or (y) any other Subsidiary of the Parent, provided that if such merger involves a Parent Guarantor (other than the Parent), such Parent Guarantor shall be the survivor;

 (ii) (x) any Parent Guarantor (other than the Parent) may sell, transfer or dispose of its assets to the Borrower or any
other Parent Guarantor and (y) any Subsidiary of the Parent (other than the Borrower or a Guarantor) may sell, transfer or dispose of its assets to any other Subsidiary of the Parent; 

(iii) any Subsidiary of the Parent (other than the Borrower or a Parent Guarantor) may convey, sell, transfer or otherwise
dispose of, in one transaction or a series of transactions, all or substantially all of its business or assets and immediately thereafter liquidate, provided that immediately prior to any such conveyance, sale, transfer, disposition or
liquidation and immediately thereafter and after giving effect thereto, no Default or Event of Default is or would be in existence; 

  
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 (iv) any Guarantor may liquidate or dissolve so long as all of its assets have
been conveyed, sold or otherwise transferred to the Parent, any other Guarantor or the Borrower prior to such liquidation or dissolution; 

(v) the Parent and its Subsidiaries may, directly or indirectly, make any Investment to the extent not prohibited by
Section 10.8; 
 (vi) the Parent, the Borrower, the other Loan Parties and the other Subsidiaries of the Parent may
lease and sublease their respective assets, as lessor or sublessor (as the case may be), in the ordinary course of their business; 

(vii) a Person other than the Parent, a Guarantor or the Borrower may make any other Disposition so long as, after giving
effect thereto on a pro forma basis, the covenants set forth in Sections 10.1 and 10.8 are satisfied. 
 Section 10.5 Plans. 

The Parent and the Borrower shall not, and shall not permit any other Loan Party or any Subsidiary of the Parent to, permit any of its
respective assets to become or be deemed to be “plan assets” within the meaning of ERISA, the Internal Revenue Code and the respective regulations promulgated thereunder. 

Section 10.6 Fiscal Year. 

The Parent and the Borrower shall not, and shall not permit any other Loan Party or other Subsidiary of the Parent to, change its fiscal year
from that in effect as of the Agreement Date (other than any change to conform to the fiscal year of the Parent). 
 Section 10.7
Modifications of Organizational Documents. 
 The Parent and the Borrower shall not, and shall not permit any other Loan Party or any
Subsidiary of the Parent to, amend, supplement, restate or otherwise modify or waive the application of any provision of its certificate or articles of incorporation or formation, by-laws, operating agreement, declaration of trust, partnership
agreement or other applicable organizational document if such amendment, supplement, restatement or other modification (a) is materially adverse to the interest of the Administrative Agent or the Lenders or (b) could reasonably be expected to have a
Material Adverse Effect. 
 Section 10.8 Permitted Investments. 

The Parent shall not, and shall not permit any Loan Party or other Subsidiary of the Parent to, make an Investment in or otherwise own the
following items which would cause the aggregate value of such holdings of all such Persons to exceed the following percentages of Total Asset Value at any time: 

(i) Unimproved Land (which shall not include any Development Property) such that the aggregate book value thereof exceeds 5.0%
of Total Asset Value; 
 (ii) Common stock, Preferred Equity Interests, other capital stock, beneficial interest in trust,
membership interest in limited liability companies and other equity interests in Persons (other than consolidated Subsidiaries and Unconsolidated Affiliates), such that the aggregate value of such interests calculated on the basis of the lower of
cost or market, exceeds 5.0% of Total Asset Value; 
 (iii) mezzanine loans and the aggregate book value of Mortgage
Receivables in excess of 5.0% of Total Asset Value; 
 (iv) Investments in Unconsolidated Affiliates of the Parent and
non-Wholly Owned Subsidiaries of the Parent, such that the aggregate value of such Investments (determined in accordance with GAAP) in Unconsolidated Affiliates and non-Wholly Owned Subsidiaries exceeds 20.0% of Total Asset Value; and 

(v) the aggregate amount of Total Budgeted Costs for Development Properties in which the Parent either has a direct or indirect
ownership interest such that the aggregate amount thereof exceeds 5.0% of Total Asset Value. If a Development Property is owned by an Unconsolidated Affiliate of the Parent or any Subsidiary of the Parent, then the product of (A) the Parent’s
or such Subsidiary’s Ownership Share in such Unconsolidated Affiliate and (B) the amount of the Total Budgeted Costs for such Development Property shall be used in calculating such investment limitation; 

  
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 provided, that, in addition to the foregoing limitations (x) the aggregate value of (i), (ii),
(iii) and (v) shall not exceed 15.0% of Total Asset Value and (y) any Investment that is an Acquisition must be a Permitted Acquisition. 

Section 10.9 Transactions with Affiliates. 

The Parent and the Borrower shall not, and shall not permit any other Loan Party or any Subsidiary of the Parent to, permit to exist or enter
into any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate, except (a) as set forth on Schedule 10.9, (b) transactions pursuant to the reasonable requirements of the
business of the Parent, the Borrower or such other Subsidiary of the Parent and upon fair and reasonable terms which are no less favorable to the Parent, the Borrower or such other Subsidiary of the Parent than would be obtained in a comparable
arm’s length transaction with a Person that is not an Affiliate, (c) transactions among the Parent and any of its Subsidiaries not prohibited by the Loan Documents, (d) Investments permitted under Section 10.8, (e) Restricted Payments permitted
under Section 10.11, (f) the provision of services under any Management Contract and (g) other transactions approved by the independent directors or by any requisite committee of the Board of Directors of the Parent pursuant to which the aggregate
payments made (including the Fair Market Value of any assets subject thereto) do not exceed $20,000,000 in any fiscal quarter. Notwithstanding the foregoing, no payments may be made pursuant to any transaction described in clause (a) or (g) above if
a Default or Event of Default would result therefrom. 
 Section 10.10 [Reserved]. 

Section 10.11 Dividends and Other Restricted Payments. 

The Parent and the Borrower shall not, and shall not permit any of their Subsidiaries to, declare or make any Restricted Payment so long as
any Default or Event of Default exists or would result therefrom. Notwithstanding the foregoing, unless a Default or Event of Default specified in Section 11.1(a) resulting from the Borrower’s failure to pay when due the principal of, or
interest on, any of the Loans or any Fees or Section 11.1(e) or (f), in each case, solely with respect to the Parent or the Borrower, shall have occurred and be continuing, or if as a result of the occurrence of any other Event of Default the
Obligations have been accelerated pursuant to Section 11.2(a), the Borrower and its Subsidiaries and any other Subsidiary of the Parent may pay dividends and distributions to the Parent and other holders of partnership interests in the Borrower with
respect to any fiscal year ending during the term of this Agreement to the extent necessary for the Parent to distribute, and the Parent may so distribute, dividends and distributions to its shareholders in an aggregate amount not to exceed the
amount required to be distributed for the Parent to (x) remain in compliance with Section 8.12 and (y) as long as the Parent qualifies as a REIT, avoid the payment of U.S. federal or state income or excise tax by the Parent. Subsidiaries other than
the Borrower may, at any time, make Restricted Payments (x) to the Borrower and the other Subsidiaries that are Guarantors or (y) to Subsidiaries that are not Guarantors, so long as such Restricted Payments are substantially concurrently
distributed, directly or indirectly, to the Borrower or any Guarantor. 

  
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 ARTICLE XI 

DEFAULT 
 Section 11.1
Events of Default. 
 Each of the following shall constitute an Event of Default, whatever the reason for such event and whether it
shall be voluntary or involuntary or be effected by operation of Applicable Law or pursuant to any judgment or order of any Governmental Authority: 

(a) Default in Payment. The Borrower shall fail to pay when due under this Agreement or any other Loan Document
(whether upon demand, at maturity, by reason of acceleration or otherwise) (i) the principal of any of the Loans, or (ii) interest or any of the other payment Obligations owing by the Borrower under this Agreement or any other Loan Document, or any
other Loan Party shall fail to pay when due any payment obligation owing by such Loan Party, as applicable under any Loan Document to which it is a party and such failure under this clause (ii) shall continue for a period of five (5) days after the
due date thereof. 
 (b) Default in Performance. 

(i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or
observed and contained in Section 8.1 (solely with respect to the existence of the Parent and the Borrower), Section 8.8, Article IX or Article X; provided that any Event of Default resulting from a breach of
Section 10.1(h) or (i) is subject to cure as provided in Section 11.3 and, if Parent or Borrower shall deliver a Notice of Intent to Cure, an Event of Default with respect to such Sections shall not occur until the tenth Business Day subsequent
to the date the relevant financial statements were delivered or were required to be delivered for the applicable fiscal quarter pursuant to Section 9.1 or 9.2, as applicable; or 

(ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or
any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a
Responsible Officer of the Parent or the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Parent has received written notice of such failure from the Administrative Agent. 

(c) Misrepresentations. Any written statement, representation or warranty made or deemed made by or on behalf of
any Loan Party under this Agreement or under any other Loan Document, or any amendment hereto or thereto, or in any other writing or statement at any time furnished by, or at the direction of, any Loan Party to the Administrative Agent or any
Lender, shall at any time prove to have been incorrect or misleading in any material respect when furnished or made or deemed made. 

(d) Indebtedness Cross Default. 

(i) The Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent shall fail to make any payment when
due and payable (after giving effect to applicable grace or cure periods) in respect of any Recourse Indebtedness (other than the Loans) having an aggregate outstanding principal amount (or, in the case of any Derivatives Contract, having a
Derivatives Termination Value), in each case individually or in the aggregate with all other Recourse Indebtedness as to which such a failure exists, of $50,000,000 or more (“Material Indebtedness”); or 

(ii) (x) The maturity of any Material Indebtedness shall have been accelerated in accordance with the provisions of any
indenture, contract or instrument evidencing, providing for the creation of or otherwise concerning such Material Indebtedness or (y) any Material Indebtedness shall have been required to be prepaid, repurchased, redeemed or defeased prior to the
stated maturity thereof; or 

  
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 (iii) Any other event shall have occurred and be continuing which, with the
giving of notice, if required, would permit any holder or holders of any Material Indebtedness, any trustee or agent acting on behalf of such holder or holders or any other Person, to accelerate the maturity of any such Material Indebtedness or
require any such Material Indebtedness to be prepaid, repurchased, redeemed or defeased prior to its stated maturity; or 

(iv) There occurs an “Early Termination Date” under and as defined in any Derivatives Contract as to which the
Borrower, any Loan Party or any other Subsidiary of the Parent is a “Defaulting Party” (as defined therein), solely to the extent such Derivatives Contract is Material Indebtedness; 

provided that this clause (d) shall not apply to any redemption, conversion or settlement of any such Indebtedness that is convertible
into Equity Interests in the Parent (and cash in lieu of fractional shares or units) and/or cash (in lieu of such Equity Interests in an amount determined by reference to the price of the common stock of the Parent at the time of such redemption,
conversion or settlement) pursuant to its terms unless such redemption, conversion or settlement results from a default thereunder or an event of a type that constitutes an Event of Default. 

(e) Voluntary Bankruptcy Proceeding. The Parent, the Borrower, any other Loan Party or any other Subsidiary of the
Parent to which more than 5% of Total Asset Value is attributable shall: (i) commence a voluntary case under the Bankruptcy Code or other federal bankruptcy laws (as now or hereafter in effect); (ii) file a petition seeking to take advantage of
any other Applicable Laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up, or composition or adjustment of debts; (iii) consent to, or fail to contest in a timely and appropriate manner, any petition filed
against it in an involuntary case under such bankruptcy laws or other Applicable Laws or consent to any proceeding or action described in the immediately following subsection (f); (iv) apply for or consent to, or fail to contest in a timely and
appropriate manner, the appointment of, or the taking of possession by, a receiver, custodian, trustee, or liquidator of itself or of a substantial part of its property, domestic or foreign; (v) admit in writing its inability to pay its debts as
they become due; (vi) make a general assignment for the benefit of creditors; (vii) make a conveyance fraudulent as to creditors under any Applicable Law; or (viii) take any corporate or partnership action for the purpose of effecting any of the
foregoing. 
 (f) Involuntary Bankruptcy Proceeding. A case or other proceeding shall be commenced against the
Parent, the Borrower, any other Loan Party or any Subsidiary of the Parent to which more than 5% of Total Asset Value is attributable in any court of competent jurisdiction seeking: (i) relief under the Bankruptcy Code or other federal
bankruptcy laws (as now or hereafter in effect) or under any other Applicable Laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up, or composition or adjustment of debts; or (ii) the appointment of a trustee,
receiver, custodian, liquidator or the like of such Person, or of all or any substantial part of the assets, domestic or foreign, of such Person, and in the case of either clause (i) or (ii) such case or proceeding shall continue undismissed or
unstayed for a period of sixty (60) consecutive days, or an order granting the remedy or other relief requested in such case or proceeding (including, but not limited to, an order for relief under such Bankruptcy Code or such other federal
bankruptcy laws) shall be entered. 
 (g) Revocation of Loan Documents. (i) Any Loan Party shall (or shall
attempt to) disavow, revoke or terminate any Loan Document to which it is a party or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of any Loan
Document or any Loan Document shall cease to be in full force and effect (except as a result of the express terms thereof) and (ii) except during a Collateral Suspension Period, any Lien created by any Collateral Document shall cease to be
enforceable and perfected and of the same priority purported to be created thereby, or any Loan Party shall so assert in writing for any reason other than (x) as permitted pursuant to the terms hereof and thereof including as a result of a
transaction not prohibited under this Agreement or (y) the failure of the Administrative Agent to maintain possession of any certificates representing or evidencing the Collateral actually delivered to it. 

(h) Judgment. A judgment or order for the payment of money or for an injunction or other non-monetary relief shall
be entered against the Parent, the Borrower, any other Loan Party, or any other 

  
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Subsidiary of the Parent by any court or other tribunal and (i) (x) such judgment or order shall continue for a period of sixty (60) days or (y) any action shall be legally taken by a judgment
creditor to attach or levy upon any assets of such Person to enforce any such judgment, in each case, without being paid, stayed or dismissed through appropriate appellate proceedings and (ii) either (A) the amount of such judgment or order for
which insurance has not been acknowledged in writing by the applicable insurance carrier (or the amount as to which the insurer has denied liability) exceeds, individually or together with all other such judgments or orders entered against the
Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent, $50,000,000 or (B) in the case of an injunction or other non-monetary relief, such injunction or judgment or order could reasonably be expected to have a Material
Adverse Effect. 
 (i) [Reserved] 

(j) ERISA. Any ERISA Event shall have occurred that results or could reasonably be expected to result in a Material
Adverse Effect. 
 (k) [Reserved] 

(l) Change of Control/Change in Management. 

(i) Any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange
Act, except that a Person will be deemed to have “beneficial ownership” of all securities that such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly,
of more than 35% of the total voting power of the then outstanding voting stock of the Parent; 
 (ii) During any period of
12 consecutive months ending after the Agreement Date, individuals who at the beginning of any such 12 month period constituted the Board of Directors of the Parent (together with any new directors whose election by such Board or whose nomination
for election by the shareholders of the Parent was approved by a vote of a majority of the directors then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so
approved) cease for any reason to constitute a majority of the Board of Directors of the Parent then in office; 
 (iii) The
Parent shall cease to own and control, directly or indirectly, at least 50% of the outstanding Equity Interests of the Borrower; or 

(iv) The Parent or a Wholly Owned Subsidiary of the Parent shall (A) cease to be the sole general partner of the Borrower or
(B) subject to customary rights of limited partners, shall cease to have the sole and exclusive power to exercise all management and control over the Borrower. 

Section 11.2 Remedies Upon Event of Default. 

Following the Effective Date, upon the occurrence of an Event of Default and so long as such Event of Default is continuing, the following
provisions shall apply: 
 (a) Acceleration; Termination of Facilities. 

(i) Automatic. Upon the occurrence of an Event of Default specified in Sections 11.1(e) or 11.1(f) with respect to
the Parent or the Borrower, (1)(A) the principal of, and all accrued interest on, the Loans and the Term Notes at the time outstanding and (B) all of the other Obligations, including, but not limited to, the other amounts owed to the Lenders and the
Administrative Agent under this Agreement, the Term Notes or any of the other Loan Documents shall become immediately and automatically due and payable without presentment, demand, protest, or other notice of any kind, all of which are expressly
waived by the Parent and the Borrower, each on behalf of itself and the other Loan Parties, and (2) the Commitments shall all immediately and automatically terminate. 

  
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 (ii) Optional. If any other Event of Default shall exist, the
Administrative Agent may, and at the direction of the Requisite Lenders shall: (1) declare (A) the principal of, and accrued interest on, the Loans and the Term Notes at the time outstanding and (B) all of the other Obligations, including, but
not limited to, the other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Term Notes or any of the other Loan Documents to be forthwith due and payable, whereupon the same shall immediately become due and payable
without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Parent and the Borrower, each on behalf of itself and the other Loan Parties, and (2) terminate the Commitments hereunder. 

(b) Loan Documents. The Requisite Lenders may direct the Administrative Agent to, and the Administrative Agent if
so directed shall, exercise any and all of its rights under any and all of the other Loan Documents. 
 (c) Applicable
Law. The Requisite Lenders may direct the Administrative Agent to, and the Administrative Agent if so directed shall, exercise all other rights and remedies it may have under any Applicable Law. 

Section 11.3 Right to Cure. 

(a) Notwithstanding anything to the contrary contained in Article XI, in the event any Loan Party fails (or, but for the operation of this
Section 11.3(a), would fail) to comply with the requirements of Sections 10.1(h) or (i) as of the last day of any fiscal quarter, the Parent and the Borrower shall have the right from the date of delivery of a Notice of Intent to Cure until the
tenth Business Day subsequent to the date the financial statements for such fiscal quarter were delivered or were required to be delivered pursuant to Section 9.1 or 9.2, as applicable (the “Cure Period”), to (i) provide the Lenders
with one or more Designated Eligible Properties (collectively, the “Additional Collateral”) with an aggregate Designated Eligible Property Asset Value adequate to make up such deficiency, which Additional Collateral shall be
evidenced by documentation as the Administrative Agent in its reasonable discretion may approve or require and/or (ii) repay such part of the Term Loans as will result in compliance with Sections 10.1(h) and (i), as applicable (collectively, the
“Cure Right”). Upon the exercise by the Parent or the Borrower of the Cure Right, the Loan to Designated Eligible Property Asset Value Ratio and the Designated Eligible Property Debt Yield shall be recalculated on a pro forma basis
solely for measuring compliance with Sections 10.1(h) and (i) of this Agreement and not for any other purposes under this Agreement. Until the expiration of the Cure Period with respect to a breach in respect of Section 10.1(h) or (i), the Lenders
shall not be permitted to declare an Event of Default or to accelerate Loans held by them or to exercise remedies against the Collateral solely on the basis of a failure to comply with the requirements of the covenants set forth in Sections 10.1(h)
and (i). 
 (b) If after giving effect to the foregoing recalculations, the Parent and the Borrower shall be in compliance with the
requirements of Sections 10.1(h) and (i) in respect of the applicable fiscal quarter, then the Parent and the Borrower shall be deemed to have satisfied the requirements of Sections 10.1(h) and (i) as of the relevant date of determination with the
same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of Section 10.1(h) or (i) that had occurred shall be deemed cured for purposes of this Agreement. 

Section 11.4 Marshaling; Payments Set Aside. 

No Lender Party shall be under any obligation to marshal any assets in favor of any Loan Party or any other party or against or in payment of
any or all of the Obligations. To the extent that any Loan Party makes a payment or payments to a Lender Party, or a Lender Party enforces its security interest (if any) or exercises its right of setoff, and such payment or payments or the
proceeds of such enforcement or setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or
federal law, common law or equitable cause, then to the extent of such recovery, the Obligations, or part thereof originally intended to be satisfied, and all Liens (if any), rights and remedies therefor, shall be revived and continued in full force
and effect as if such payment had not been made or such enforcement or setoff had not occurred. 

  
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 Section 11.5 Allocation of Proceeds. 

If an Event of Default exists, all payments received by the Administrative Agent (or any Lender as a result of its exercise of remedies
permitted under Section 13.3) under any of the Loan Documents in respect of any Obligations shall be applied in the following order and priority: 

(a) to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts, including
attorney fees, payable under the Loan Documents to the Administrative Agent in its capacity as such; 
 (b) to payment of
that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and interest) payable to the Lenders under the Loan Documents, including attorney fees to the extent payable under the Loan Documents, ratably
among the Lenders in proportion to the respective amounts described in this clause (b) payable to them; 
 (c)
[Reserved]; 
 (d) to payment of that portion of the Obligations constituting accrued and unpaid interest on the
Loans, ratably among the Lenders in proportion to the respective amounts described in this clause (d) payable to them; 
 (e)
[Reserved]; 
 (f) to payment of that portion of the Obligations constituting unpaid principal of the Loans ratably
among the Lenders in proportion to the respective amounts described in this clause (f) payable to them; and 
 (g) the
balance, if any, after all of the Obligations (other than any contingent obligation for which no claim has been made) have been paid in full, to the Borrower or as otherwise required by Applicable Law. 

Section 11.6 [Reserved]. 

Section 11.7 Rescission of Acceleration by Requisite Lenders. 

If at any time after acceleration of the maturity of the Loans and the other Obligations, the Borrower shall pay all arrears of interest and
all payments on account of principal of the Obligations which shall have become due otherwise than by acceleration (with interest on principal and, to the extent permitted by Applicable Law, on overdue interest, at the rates specified in this
Agreement) and all Events of Default and Defaults (other than nonpayment of principal of and accrued interest on the Obligations due and payable solely by virtue of acceleration) shall become remedied or waived to the satisfaction of the Requisite
Lenders, then by written notice to the Borrower, the Requisite Lenders may elect, in the sole discretion of such Requisite Lenders, to rescind and annul the acceleration and its consequences. The provisions of the preceding sentence are
intended merely to bind all of the Lenders to a decision which may be made at the election of the Requisite Lenders, and are not intended to benefit the Borrower and do not give the Borrower the right to require the Lenders to rescind or annul any
acceleration hereunder, even if the conditions set forth herein are satisfied. 
 Section 11.8 Performance by Administrative Agent.

 If the Parent, the Borrower or any other Loan Party shall fail to perform any covenant, duty or agreement contained in any of the Loan
Documents, the Administrative Agent may, after notice to the Parent or the Borrower, perform or attempt to perform such covenant, duty or agreement on behalf of the Parent, the Borrower or such other

  
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Loan Party after the expiration of any cure or grace periods set forth herein. In such event, the Parent or the Borrower shall, at the request of the Administrative Agent, promptly pay any
amount reasonably expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent, together with interest thereon at the applicable rate or Post-Default Rate from the date of such expenditure until
paid. Notwithstanding the foregoing, neither the Administrative Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Parent, the Borrower or any other Loan Party under this
Agreement or any other Loan Document. 
 Section 11.9 Rights Cumulative. 

(a) Generally. The rights and remedies of the Administrative Agent and the Lenders under this Agreement and each of the other Loan
Documents, shall be cumulative and not exclusive of any rights or remedies which any of them may otherwise have under Applicable Law. In exercising their respective rights and remedies, the Administrative Agent and the Lenders may be selective
and no failure or delay by any such Lender Party in exercising any right shall operate as a waiver of it, nor shall any single or partial exercise of any power or right preclude its other or further exercise or the exercise of any other power or
right. 
 (b) Enforcement by Administrative Agent. Notwithstanding anything to the contrary contained herein or in any other
Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such
enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Article XI for the benefit of all the Lenders; provided that the foregoing shall not prohibit (i) the Administrative Agent
from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (ii) any Lender from exercising setoff rights in accordance with
Section 13.3 (subject to the terms of Section 3.3), or (iii) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor
Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (x) the Requisite Lenders shall have the rights otherwise ascribed to the
Administrative Agent pursuant to Article XI and (y) in addition to the matters set forth in clauses (ii) and (iii) of the preceding proviso and subject to Section 3.3, any Lender may, with the consent of the Requisite Lenders, enforce any rights and
remedies available to it and as authorized by the Requisite Lenders. 
 (c) Credit Bidding. In addition to any other rights and
remedies granted to the Administrative Agent and the Lenders in the Loan Documents, the Administrative Agent on behalf of the Lenders may exercise all rights and remedies of a Lender Party under the New York Uniform Commercial Code or any other
applicable law. Without limiting the generality of the foregoing, the Administrative Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law referred to
below) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part
thereof, or consent to the use by the Grantor of any cash collateral arising in respect of the Collateral on such terms as the Administrative Agent deems reasonable, and/or may forthwith sell, lease, assign give an option or options to purchase or
otherwise dispose of and deliver, or acquire by credit bid on behalf of the Lenders, the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange,
broker’s board or office of the Administrative Agent or any Lender or elsewhere, upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery, all without
assumption of any credit risk. The Administrative Agent or any Lender shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the
Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it
available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. The Administrative Agent shall apply the net proceeds of any action taken by it pursuant to
this Article XI, after deducting all reasonable costs and expenses of every kind incurred in connection therewith or incidental to the care or safekeeping of any of the Collateral or in any other way relating to the Collateral or the rights of
the Administrative Agent and the Lenders hereunder, including reasonable attorneys’ fees and disbursements, to the 

  
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payment in whole or in part of the obligations of the Loan Parties under the Loan Documents, in such order as the Administrative Agent may elect, and only after such application and after the
payment by the Administrative Agent of any other amount required by any provision of law, including Section 9-615(a)(3) of the New York UCC, need the Administrative Agent account for the surplus, if any, to any Grantor. To the extent
permitted by applicable law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any Lender arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or
other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition. 

ARTICLE XII 
 THE
ADMINISTRATIVE AGENT 
 Section 12.1 Appointment and Authorization. 

Each Lender hereby irrevocably appoints the Administrative Agent as its agent under the Loan Documents and authorizes the Administrative Agent
to take such action as contractual representative on such Lender’s behalf and to exercise such powers under this Agreement and the other Loan Documents as are specifically delegated to the Administrative Agent by the terms hereof and thereof,
together with such powers as are reasonably incidental thereto. Not in limitation of the foregoing, each Lender authorizes and directs the Administrative Agent to enter into the Loan Documents for the benefit of the Lenders. Each Lender hereby
agrees that, except as otherwise set forth herein, any action taken by the Requisite Lenders in accordance with the provisions of this Agreement or the Loan Documents, and the exercise by the Requisite Lenders of the powers set forth herein or
therein, together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders. Nothing herein shall be construed to deem the Administrative Agent a trustee or fiduciary for any Lender or to
impose on the Administrative Agent duties or obligations other than those expressly provided for herein. Without limiting the generality of the foregoing, the use of the terms “Agent,” “Administrative Agent,” “agent”
and similar terms in the Loan Documents with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any Applicable Law. Instead, use of such terms is
merely a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties. The Administrative Agent shall deliver to each Lender, promptly upon receipt thereof by the
Administrative Agent, copies of each of the financial statements, certificates, notices and other documents delivered to the Administrative Agent pursuant to Article IX. that the Parent or the Borrower is not otherwise required to deliver directly
to the Lenders. The Administrative Agent will furnish to any Lender, upon the request of such Lender, a copy (or, where appropriate, an original) of any document, instrument, agreement, certificate or notice furnished to the Administrative Agent by
the Parent, the Borrower, any other Loan Party or any other Affiliate of the Borrower, pursuant to this Agreement or any other Loan Document not already delivered or otherwise made available to such Lender pursuant to the terms of this Agreement or
any such other Loan Document. As to any matters not expressly provided for by the Loan Documents (including, without limitation, enforcement or collection of any of the Obligations), the Administrative Agent shall not be required to exercise any
discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Requisite Lenders (or all of the Lenders if explicitly required
under any other provision of this Agreement), and such instructions shall be binding upon all Lenders and all holders of any of the Obligations; provided, however, that, notwithstanding anything in this Agreement to the contrary, the
Administrative Agent shall not be required to take any action which exposes the Administrative Agent to personal liability or which is contrary to this Agreement or any other Loan Document or Applicable Law. Not in limitation of the foregoing,
the Administrative Agent may exercise any right or remedy it or the Lenders may have under any Loan Document upon the occurrence of a Default or an Event of Default unless the Requisite Lenders have directed the Administrative Agent
otherwise. Without limiting the foregoing, no Lender shall have any right of action whatsoever against the Administrative Agent as a result of the Administrative Agent acting or refraining from acting under this Agreement or any of the other
Loan Documents in accordance with the instructions of the Requisite Lenders, or where applicable, all the Lenders. The Lenders hereby authorize the Administrative Agent, to release any Guarantor from its Guaranty (i) in the case of a Guarantor,
upon satisfaction of the conditions to release set forth in Section 8.14(b); (ii) if approved, authorized or ratified in writing by the Requisite Lenders or all of the Lenders hereunder, as the required under the circumstances; or (iii) on the
Termination Date. In connection with any such release of a Guarantor pursuant to the preceding sentence, the Administrative Agent shall (and is hereby irrevocably 

  
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authorized by each Lender to) execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or
release (any execution and delivery of such documents being without recourse to or warranty by the Administrative Agent). 
 Section 12.2
JPMorgan as Lender. 
 JPMorgan, as a Lender, shall have the same rights and powers under this Agreement and any other Loan Document
as any other Lender and may exercise the same as though it were not the Administrative Agent; and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated, include JPMorgan in each case in its individual
capacity. JPMorgan and its Affiliates may each accept deposits from, maintain deposits or credit balances for, invest in, lend money to, act as trustee under indentures of, serve as financial advisor to, and generally engage in any kind of business
with the Parent, the Borrower, any other Loan Party or any other Affiliate thereof as if it were any other bank and without any duty to account therefor to the other Lenders. Further, the Administrative Agent and any Affiliate may accept fees and
other consideration from the Borrower for services in connection with this Agreement, or otherwise without having to account for the same to the other Lenders. The Lenders acknowledge that, pursuant to such activities, JPMorgan or its Affiliates may
receive information regarding the Parent, the Borrower, other Loan Parties, other Subsidiaries of the Parent and other Affiliates (including information that may be subject to confidentiality obligations in favor of such Person) and acknowledge that
the Administrative Agent shall be under no obligation to provide such information to them. 
 Section 12.3 Approvals of Lenders. 

All communications from the Administrative Agent to any Lender requesting such Lender’s determination, consent or approval (a) shall be
given in the form of a written notice to such Lender, (b) shall be accompanied by a description of the matter or issue as to which such determination, consent or approval is requested, or shall advise such Lender where information, if any, regarding
such matter or issue may be inspected, or shall otherwise describe the matter or issue to be resolved and (c) shall include, if reasonably requested by such Lender and to the extent not previously provided to such Lender, written materials provided
to the Administrative Agent by the Parent or the Borrower in respect of the matter or issue to be resolved. Unless a Lender shall give written notice to the Administrative Agent that it specifically objects to the requested determination, consent or
approval (together with a reasonable written explanation of the reasons behind such objection) within ten (10) Business Days (or such lesser or greater period as may be specifically required under the express terms of the Loan Documents) of receipt
of such communication, such Lender shall be deemed to have conclusively approved of or consented to such. 
 Section 12.4 Notice of
Events of Default. 
 The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of a Default or Event
of Default unless the Administrative Agent has received notice from a Lender, the Parent or the Borrower referring to this Agreement, describing with reasonable specificity such Default or Event of Default and stating that such notice is a
“notice of default.” If any Lender (excluding the Lender which is also serving as the Administrative Agent) becomes aware of any Default or Event of Default, it shall promptly send to the Administrative Agent such a “notice of
default”; provided, a Lender’s failure to provide such a “notice of default” to the Administrative Agent shall not result in any liability of such Lender to any other party to any of the Loan Documents. Further, if the
Administrative Agent receives such a “notice of default,” the Administrative Agent shall give prompt notice thereof to the Lenders. 

Section 12.5 Administrative Agent’s Reliance. 

Notwithstanding any other provisions of this Agreement or any other Loan Documents, neither the Administrative Agent nor any of its Related
Parties shall be liable for any action taken or not taken by it under or in connection with this Agreement or any other Loan Document, except for its or their own gross negligence or willful misconduct in connection with its duties expressly set
forth herein or therein as determined by a court of competent jurisdiction in a final non-appealable judgment. Without limiting the generality of the foregoing, the Administrative Agent may consult with legal counsel (including its own counsel
or counsel for the Parent, the Borrower or any other Loan Party), independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice
of such counsel, accountants or 

  
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experts. Neither the Administrative Agent nor any of its Related Parties: (a) makes any warranty or representation to any Lender or any other Person, or shall be responsible to any Lender or
any other Person for any statement, warranty or representation made or deemed made by the Parent, the Borrower, any other Loan Party or any other Person in or in connection with this Agreement or any other Loan Document; (b) shall have any duty to
ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement or any other Loan Document or the satisfaction of any conditions precedent under this Agreement or any Loan Document on the
part of the Parent, the Borrower or other Persons, or to inspect the property, books or records of the Parent, the Borrower or any other Person; (c) shall be responsible to any Lender for the due execution, legality, validity, enforceability,
genuineness, sufficiency or value of this Agreement or any other Loan Document, any other instrument or document furnished pursuant thereto or any collateral covered thereby or the perfection or priority of any Lien in favor of the Administrative
Agent on behalf of the Lenders Parties in any such collateral; (d) shall have any liability in respect of any recitals, statements, certifications, representations or warranties contained in any of the Loan Documents or any other document,
instrument, agreement, certificate or statement delivered in connection therewith; and (e) shall incur any liability under or in respect of this Agreement or any other Loan Document by acting upon any notice, consent, certificate or other instrument
or writing (which may be by telephone, telecopy, electronic mail or other similar form of communication) believed by it to be genuine and signed, sent or given by the proper party or parties. The Administrative Agent may execute any of its
duties under the Loan Documents by or through agents, employees or attorneys-in-fact and shall not be responsible for the negligence or misconduct of any agent or attorney-in-fact that it selects in the absence of gross negligence or willful
misconduct in the selection of such agent or attorney-in-fact as determined by a court of competent jurisdiction in a final non-appealable judgment. 

Section 12.6 Indemnification of Administrative Agent. 

Each Lender agrees to indemnify the Administrative Agent (to the extent not reimbursed by the Borrower and without limiting the obligation of
the Borrower to do so) pro rata in accordance with such Lender’s respective Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, reasonable out-of-pocket costs and expenses of any kind or nature whatsoever which may at any time be imposed on, incurred by, or asserted against the Administrative Agent (in its
capacity as Administrative Agent but not as a Lender) in any way relating to or arising out of the Loan Documents, any transaction contemplated hereby or thereby or any action taken or omitted by the Administrative Agent under the Loan Documents
(collectively, “Indemnifiable Amounts”); provided, however, that no Lender shall be liable for any portion of such Indemnifiable Amounts to the extent resulting from the Administrative Agent’s gross negligence or
willful misconduct as determined by a court of competent jurisdiction in a final, non-appealable judgment; provided, however, that no action taken in accordance with the directions of the Requisite Lenders (or all of the Lenders, if
expressly required hereunder) shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section. Without limiting the generality of the foregoing, each Lender agrees to reimburse the Administrative Agent (to the
extent not reimbursed by the Borrower and without limiting the obligation of the Borrower to do so) promptly upon demand for its ratable share of any out of pocket expenses (including the reasonable fees and expenses of one law firm acting as
outside counsel to the Administrative Agent and the Arrangers (taken as a whole), with exception, in consultation with the Borrower, in the case of conflicts of interest) incurred by the Administrative Agent in connection with the preparation,
negotiation, execution, administration, or enforcement (whether through negotiations, legal proceedings, or otherwise) of, or legal advice with respect to the rights or responsibilities of the parties under, the Loan Documents, any suit or action
brought by the Administrative Agent to enforce the terms of the Loan Documents and/or collect any Obligations, any “lender liability” suit or claim brought against the Administrative Agent and/or the Lenders, and any claim or suit brought
against the Administrative Agent and/or the Lenders arising under any Environmental Laws. Such out of pocket expenses (including counsel fees) shall be advanced by the Lenders on the request of the Administrative Agent notwithstanding any claim or
assertion that the Administrative Agent is not entitled to indemnification hereunder upon receipt of an undertaking by the Administrative Agent that the Administrative Agent will reimburse the Lenders if it is actually and finally determined by a
court of competent jurisdiction that the Administrative Agent is not so entitled to indemnification. The agreements in this Section shall survive the payment of the Loans and all other amounts payable hereunder or under the other Loan Documents and
the termination of this Agreement. If the Borrower shall reimburse the Administrative Agent for any Indemnifiable Amount following payment by any Lender to the Administrative Agent in respect of such Indemnifiable Amount pursuant to this Section,
the Administrative Agent shall share such reimbursement on a ratable basis with each Lender making any such payment. 

  
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 Section 12.7 Lender Credit Decision, Etc. 

Each of the Lenders expressly acknowledges and agrees that neither the Administrative Agent nor any of its Related Parties has made any
representations or warranties to such Lender and that no act by the Administrative Agent hereafter taken, including any review of the affairs of the Parent, the Borrower, any other Loan Party or any other Subsidiary or Affiliate, shall be deemed to
constitute any such representation or warranty by the Administrative Agent to any Lender. Each of the Lenders acknowledges that it has made its own credit and legal analysis and decision to enter into this Agreement and the transactions contemplated
hereby, independently and without reliance upon the Administrative Agent, any other Lender or counsel to the Administrative Agent, or any of their respective Related Parties, and based on the financial statements of the Parent, the Borrower, the
other Loan Parties, the other Subsidiaries of the Parent and other Affiliates, and inquiries of such Persons, its independent due diligence of the business and affairs of the Parent, the Borrower, the other Loan Parties, the other Subsidiaries of
the Parent and other Persons, its review of the Loan Documents, the legal opinions required to be delivered to it hereunder, the advice of its own counsel and such other documents and information as it has deemed appropriate. Each of the Lenders
also acknowledges that it will, independently and without reliance upon the Administrative Agent, any other Lender or counsel to the Administrative Agent or any of their respective Related Parties, and based on such review, advice, documents and
information as it shall deem appropriate at the time, continue to make its own decisions in taking or not taking action under the Loan Documents. The Administrative Agent shall not be required to keep itself informed as to the performance or
observance by the Parent, the Borrower or any other Loan Party of the Loan Documents or any other document referred to or provided for therein or to inspect the properties or books of, or make any other investigation of, the Parent, the Borrower,
any other Loan Party or any other Subsidiary. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders by the Administrative Agent under this Agreement or any of the other Loan Documents, the
Administrative Agent shall have no duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, financial and other condition or creditworthiness of the Parent, the Borrower, any
other Loan Party or any other Affiliate thereof which may come into possession of the Administrative Agent or any of its Related Parties. Each of the Lenders acknowledges that the Administrative Agent’s legal counsel in connection with the
transactions contemplated by this Agreement is only acting as counsel to the Administrative Agent and is not acting as counsel to any Lender. 

Section 12.8 Successor Administrative Agent. 

The Administrative Agent may resign at any time as Administrative Agent under the Loan Documents by giving written notice thereof to the
Lenders and the Borrower. Upon any such resignation, the Requisite Lenders shall have the right to appoint a successor Administrative Agent which appointment shall, provided no Default or Event of Default exists, be subject to the Borrower’s
approval, which approval shall not be unreasonably withheld or delayed. If no successor Administrative Agent shall have been so appointed in accordance with the immediately preceding sentence, and shall have accepted such appointment, within thirty
(30) days after the current Administrative Agent’s giving of notice of resignation, then the current Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent, which shall be a Lender, if any Lender shall be
willing to serve, and otherwise shall be an Eligible Assignee; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no Lender has accepted such appointment, then such resignation shall nonetheless become
effective in accordance with such notice and (1) the Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (2) all payments, communications and determinations provided to be made
by, to or through the Administrative Agent shall instead be made to each Lender Bank directly, until such time as a successor Administrative Agent has been appointed as provided for above in this Section; provided, further that such
Lenders so acting directly shall be and be deemed to be protected by all indemnities and other provisions herein for the benefit and protection of the Administrative Agent as if each such Lender were itself the Administrative Agent. Upon the
acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the current
Administrative Agent, and the current Administrative Agent shall be discharged from its duties and obligations under the Loan Documents. After any Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this
Article XII shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under the Loan Documents. Notwithstanding anything contained herein to the contrary, the Administrative Agent
may assign its rights and duties under the Loan Documents to any of its Affiliates by giving the Borrower and each Lender prior written notice. 

  
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 Section 12.9 Titled Persons. 

Each of the Arrangers (each, a “Titled Person”) in each such respective capacity, assumes no responsibility or obligation
hereunder, including, without limitation, for servicing, enforcement or collection of any of the Loans, nor any duties as an agent hereunder for the Lenders. The titles given to the Titled Persons are solely honorific and imply no fiduciary
responsibility on the part of the Titled Persons to the Administrative Agent, any Lender, the Parent, the Borrower or any other Loan Party and the use of such titles does not impose on the Titled Persons any duties or obligations greater than those
of any other Lender or entitle the Titled Persons to any rights other than those to which any other Lender is entitled. 
 Section 12.10
Agent Under Collateral Documents. 
 Each Lender Party hereby further authorizes the Administrative Agent on behalf of and for the
benefit of Lender Parties, to be the agent for and representative of Lender Parties with respect to the Collateral and the Collateral Documents. 

The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the
existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, as applicable, or any certificate prepared by any Loan Party in connection therewith, nor shall the
Administrative Agent be responsible or liable to any Lender Party for any failure to monitor or maintain any portion of the Collateral. 

Without further written consent or authorization from any Lender Party, the Administrative Agent may execute any documents or instruments
necessary to (a) release any Lien on any Collateral granted to or held by the Administrative Agent (or any subagent thereof), under any Loan Document (i) on the Termination Date, (ii) that is disposed of as part of or in connection with any
Disposition permitted hereunder to a Person that is not a Loan Party, (iii) if approved, authorized or ratified in writing in accordance with Section 13.6, (iv) pursuant to Section 8.16 following delivery of a Release Request and
satisfaction of the Release Conditions, (v) with respect to the Lien on the Equity Interests of any Subsidiary owning any Property to the extent a determination is made pursuant to Section 8.17 that such Property shall no longer be deemed to be a
Designated Eligible Property, or (vi) pursuant to Section 13.21 upon a Ratings Upgrade or (b) release any Guarantor from its Guarantee in respect of the Obligations under the Loan Documents if such Person ceases to be a Subsidiary as a result
of a transaction permitted hereunder. 
 Anything contained in any of the Loan Documents to the contrary notwithstanding, the Borrower, the
Administrative Agent, and each Lender Party hereby agree that (i) except with respect to the set off rights of any Lender set forth in Section 13.3 or with respect to a Lender Party’s right to file a proof of claim in an insolvency
proceeding, no Lender Party shall have any right individually to realize upon any of the Collateral or to enforce any Guarantee, it being understood and agreed that all powers, rights, and remedies under the Loan Documents may be exercised solely by
the Administrative Agent on behalf of the Lender Parties, in accordance with the terms hereof and thereof and all powers, rights, and remedies under the Collateral Documents may be exercised solely by the Administrative Agent, and (ii) in the event
of a foreclosure by the Administrative Agent on any of the Collateral pursuant to a public or private sale or other disposition, the Administrative Agent or any Lender may be the purchaser or licensor of any or all of such Collateral at any such
sale or other disposition and the Administrative Agent as agent for and representative of the Lender Parties (but not any Lender or Lenders in its or their respective individual capacities unless Requisite Lenders shall otherwise agree in writing),
shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations as a credit on account of the
purchase price for any Collateral payable by the Administrative Agent on behalf of the Lender Parties at such sale or other disposition. 

The Lender Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Requisite Lenders, to credit bid all or any
portion of the Obligations (including by accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through one or
more acquisition vehicles) all or any portion of the Collateral 

  
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(a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including under Section 363, 1123 or 1129 of the Bankruptcy Code, or any similar laws in any other
jurisdictions to which a Loan Party is subject, or (b) at any other sale, foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or
otherwise) in accordance with any applicable law. In connection with any such credit bid and purchase, the Obligations owed to the Lender Parties shall be entitled to be, and shall be, credit bid by the Administrative Agent at the direction of the
Requisite Lenders on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that shall vest upon the liquidation of such claims in an amount
proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) for the asset or assets so purchased (or for the equity interests or debt instruments of the acquisition vehicle or vehicles that are
issued in connection with such purchase). In connection with any such bid (i) the Administrative Agent shall be authorized to form one or more acquisition vehicles and to assign any successful credit bid to such acquisition vehicle or vehicles,
(ii) each of the Lender Parties’ ratable interests in the Obligations which were credit bid shall be deemed without any further action under this Agreement to be assigned to such vehicle or vehicles for the purpose of closing such sale,
(iii) the Administrative shall be authorized to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or
vehicles, including any disposition of the assets or equity interests thereof, shall be governed, directly or indirectly, by, and the governing documents shall provide for, control by the vote of the Requisite Lenders or their permitted assignees
under the terms of this Agreement or the governing documents of the applicable acquisition vehicle or vehicles, as the case may be, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the
Requisite Lenders contained in Section 13.6 of this Agreement), (iv) the Administrative Agent on behalf of such acquisition vehicle or vehicles shall be authorized to issue to each of the Lender Parties, ratably on account of the relevant
Obligations which were credit bid, interests, whether as equity, partnership, limited partnership interests or membership interests, in any such acquisition vehicle and/or debt instruments issued by such acquisition vehicle, all without the
need for any Lender Party or acquisition vehicle to take any further action, and (v) to the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason, such Obligations shall automatically
be reassigned to the Lender Parties pro rata and the equity interests and/or debt instruments issued by any acquisition vehicle on account of such Obligations shall automatically be cancelled, without the need for any Lender Party or any acquisition
vehicle to take any further action. Notwithstanding that the ratable portion of the Obligations of each Lender Party are deemed assigned to the acquisition vehicle or vehicles as set forth in clause (ii) above, each Lender Party shall execute
such documents and provide such information regarding the Lender Party (and/or any designee of the Lender Party which will receive interests in or debt instruments issued by such acquisition vehicle) as the Administrative Agent may reasonably
request in connection with the formation of any acquisition vehicle, the formulation or submission of any credit bid or the consummation of the transactions contemplated by such credit bid. 

ARTICLE XIII 

MISCELLANEOUS 
 Section
13.1 Notices. 
 Unless otherwise provided herein (including without limitation as provided in Section 9.5), communications provided
for hereunder shall be in writing and shall be mailed, telecopied, emailed or otherwise delivered as follows: 
 If to the Borrower: 

VEREIT Operating Partnership, L.P. (f/k/a ARC Properties Operating Partnership, L.P.) 

c/o VEREIT, Inc. (f/k/a American Realty Capital Properties, Inc.) 

2325 E. Camelback Road, Suite 1100 

Phoenix, AZ 85016 

Attn: Michael J. Bartolotta 

Phone: (602) 778-8700 

Fax: (480) 449-7000 

Email: mbartolotta@vereit.com 

  
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 with a copy to: 

VEREIT, Inc. (f/k/a American Realty Capital Properties, Inc.) 

5 Bryant Park, 23rd Floor 
 New
York, NY 10018 
 Attn: Lauren Goldberg 

Phone: (646) 601-7117 

Fax: (212) 813-0920 

Email: lgoldberg@vereit.com 
 If
to the Administrative Agent: 
 JPMorgan Chase Bank, N.A. 

10 South Dearborn, Floor L2S 

Chicago, IL 60603 

Attention: Loan and Agency Services Group 

Fax: (888) 303-9732 
 If to any
other Lender: 
 To such Lender’s address or telecopy number or email address as set forth in the applicable Administrative
Questionnaire 
 or, as to each party at such other address as shall be designated by such party in a written notice to the other parties delivered in
compliance with this Section; provided a Lender shall only be required to give notice of any such other address to the Administrative Agent and the Borrower. All such notices and other communications shall be effective (i) if mailed,
upon the first to occur of receipt or the expiration of three (3) days after the deposit in the United States Postal Service certified mail, postage prepaid and addressed to the address of the Borrower or the Administrative Agent and Lenders at the
addresses specified; (ii) if telecopied, when transmitted (with confirmation); (iii) if hand delivered or sent by overnight courier, when delivered; or (iv) if delivered in accordance with Section 9.5 to the extent applicable; provided,
however, that, in the case of the immediately preceding clauses (i), (ii) and (iii), non-receipt of any communication as of the result of any change of address of which the sending party was not notified or as the result of a refusal to accept
delivery shall be deemed receipt of such communication. Notwithstanding the immediately preceding sentence, all notices or communications to the Administrative Agent or any Lender under Article II shall be effective only when actually
received. None of the Administrative Agent or any Lender shall incur any liability to any Loan Party (nor shall the Administrative Agent incur any liability to the Lenders) for acting upon any telephonic notice referred to in this Agreement
which the Administrative Agent or such Lender, as the case may be, believes in good faith to have been given by a Person authorized to deliver such notice or for otherwise acting in good faith hereunder. Failure of a Person designated to get a
copy of a notice to receive such copy shall not affect the validity of notice properly given to another Person. 
 Section 13.2
Expenses. 
 The Borrower agrees (a) to pay or reimburse the Administrative Agent for all of its reasonable and documented out-of-pocket
costs and expenses incurred in connection with the preparation, negotiation and execution of, and any amendment, supplement or modification to, any of the Loan Documents (including due diligence expenses), and the consummation of the transactions
contemplated hereby and thereby, including the reasonable and documented out-of-pocket fees and disbursements of one law firm acting as outside counsel to the Administrative Agent and the Arrangers (taken as a whole), and, in the case of an actual
or perceived conflict of interest, one additional law firm acting as outside counsel to all such conflicted parties and all reasonable and documented costs and expenses of the Administrative Agent in connection with the use of IntraLinks, SyndTrak
or other similar information transmission systems in connection with the Loan Documents, (b) to pay or reimburse the Administrative Agent and the Lenders for all their reasonable and documented costs and expenses incurred in connection with the
enforcement or preservation of any rights under the Loan Documents, including the reasonable fees and disbursements of their respective counsel and any payments in indemnification or otherwise payable by the Lenders to the Administrative Agent
pursuant to the Loan Documents and (c) to the extent not already covered by 

  
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any of the preceding subsections, to pay or reimburse the fees and disbursements of counsel to the Administrative Agent and any Lender incurred in connection with the representation of the
Administrative Agent or such Lender in any matter relating to or arising out of any bankruptcy or other proceeding of the type described in Section 11.1(e) or 11.1(f), including, without limitation (i) any motion for relief from any stay or similar
order, (ii) the negotiation, preparation, execution and delivery of any document relating to the Obligations and (iii) the negotiation and preparation of any debtor in possession financing or any plan of reorganization of the Parent, the Borrower or
any other Loan Party, whether proposed by the Parent, the Borrower, such Loan Party, the Lenders or any other Person, and whether such fees and expenses are incurred prior to, during or after the commencement of such proceeding or the confirmation
or conclusion of any such proceeding. If the Borrower shall fail to pay any amounts required to be paid by it pursuant to this Section, the Administrative Agent and/or the Lenders may pay such amounts on behalf of the Borrower and such amounts
shall be deemed to be Obligations owing hereunder. 
 Section 13.3 Setoff. 

Subject to Section 3.3 and in addition to any rights now or hereafter granted under Applicable Law and not by way of limitation of any such
rights, the Borrower hereby authorizes the Administrative Agent, each Lender, each Affiliate of the Administrative Agent or any Lender, and each Participant, at any time or from time to time while an Event of Default exists, without notice to the
Borrower or to any other Person, any such notice being hereby expressly waived, but in the case of a Lender, an Affiliate of a Lender, or a Participant, subject to receipt of the prior written consent of the Requisite Lenders exercised in their sole
discretion, to set off and to appropriate and to apply any and all deposits (general or special, including, but not limited to, indebtedness evidenced by certificates of deposit, whether matured or unmatured) and any other indebtedness at any time
held or owing by the Administrative Agent, such Lender, any Affiliate of the Administrative Agent or such Lender, or such Participant, to or for the credit or the account of the Borrower against and on account of any of the Obligations, irrespective
of whether or not any or all of the Loans and all other Obligations have been declared to be, or have otherwise become, due and payable as permitted by Section 11.2, and although such Obligations shall be contingent or
unmatured. Notwithstanding anything to the contrary in this Section, if any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application
in accordance with the provisions of Section 3.9 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders and (y) such
Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. 

Section 13.4 Litigation; Jurisdiction; Other Matters; Waivers. 

(a) EACH PARTY HERETO ACKNOWLEDGES THAT ANY DISPUTE OR CONTROVERSY BETWEEN OR AMONG THE PARENT, THE BORROWER, THE ADMINISTRATIVE AGENT OR ANY
OF THE LENDERS WOULD BE BASED ON DIFFICULT AND COMPLEX ISSUES OF LAW AND FACT AND WOULD RESULT IN DELAY AND EXPENSE TO THE PARTIES. ACCORDINGLY, TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE LENDERS, THE ADMINISTRATIVE AGENT, THE PARENT AND
THE BORROWER HEREBY WAIVES ITS RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING OF ANY KIND OR NATURE IN ANY COURT OR TRIBUNAL IN WHICH AN ACTION MAY BE COMMENCED BY OR AGAINST ANY PARTY HERETO ARISING OUT OF THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT OR BY REASON OF ANY OTHER SUIT, CAUSE OF ACTION OR DISPUTE WHATSOEVER BETWEEN OR AMONG THE PARENT, THE BORROWER, THE ADMINISTRATIVE AGENT OR ANY OF THE LENDERS OF ANY KIND OR NATURE RELATING TO ANY OF THE LOAN DOCUMENTS. 

(b) THE PARENT, THE BORROWER AND EACH OTHER LOAN PARTY 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 ADMINISTRATIVE AGENT, ANY LENDER 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 NEW YORK SITTING IN NEW YORK COUNTY, AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND

  
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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 NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL NON-APPEALABLE 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. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY
RIGHT THAT THE ADMINISTRATIVE AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE PARENT, THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF
ANY JURISDICTION. EACH PARTY FURTHER WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT FORUM AND EACH AGREES
NOT TO PLEAD OR CLAIM THE SAME. THE CHOICE OF FORUM SET FORTH IN THIS SECTION SHALL NOT BE DEEMED TO PRECLUDE THE BRINGING OF ANY ACTION BY THE ADMINISTRATIVE AGENT, OR ANY LENDER OR THE ENFORCEMENT BY THE ADMINISTRATIVE AGENT, OR ANY LENDER OF
ANY JUDGMENT OBTAINED IN SUCH FORUM IN ANY OTHER APPROPRIATE JURISDICTION. 
 (c) THE PROVISIONS OF THIS SECTION HAVE BEEN CONSIDERED BY
EACH PARTY WITH THE ADVICE OF COUNSEL AND WITH A FULL UNDERSTANDING OF THE LEGAL CONSEQUENCES THEREOF, AND SHALL SURVIVE THE PAYMENT OF THE LOANS AND ALL OTHER AMOUNTS PAYABLE HEREUNDER OR UNDER THE OTHER LOAN DOCUMENTS AND THE TERMINATION OF THIS
AGREEMENT. 
 Section 13.5 Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that neither the Parent, the Borrower nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder or under any other Loan
Document without the prior written consent of the Administrative Agent and each Lender, and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of
the immediately following subsection (b), (ii) by way of participation in accordance with the provisions of the immediately following subsection (d) or (iii) by way of pledge or assignment of a security interest subject to the restrictions of the
immediately following subsection (e) (and, subject to the last sentence of the immediately following subsection (b), any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or
implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in the immediately following subsection (d) and, to the extent
expressly contemplated hereby, the Related Parties of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of an assigning Term Loan Lender’s Term Loans at the time
owing to it, or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B) in any case not described in the immediately preceding subsection (A), the principal outstanding balance of the Term Loan
subject to such assignment (determined as of the date the 

  
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Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade
Date) shall not be less than $1,000,000, unless each of the Administrative Agent and, so long as no Default or Event of Default shall exist, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed);
provided, however, that if, after giving effect to such assignment, the amount of the Commitment held by such assigning Lender or the outstanding principal balance of the Loans of such assigning Lender, as applicable, would be less
than $1,000,000, then such assigning Lender shall assign the entire amount of its Commitment and the Loans at the time owing to it. 

(ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the
assigning Lender’s rights and obligations under this Agreement with respect to the Type of Loan assigned. 
 (iii)
Required Consents. No consent shall be required for any assignment except to the extent required by clause (i) (B) of this subsection (b) and, in addition: 

(A) the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) a
Default or Event of Default shall exist at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment
unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof; and 

(B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required for
assignments in respect of (x) any unfunded Term Loan Commitments if such assignment is to a Person that is not already a Lender with a Commitment, an Affiliate of such a Lender or an Approved Fund with respect to such a Lender or (y) a Term Loan to
a Person who is not a Lender, an Affiliate of a Lender or an Approved Fund. 
 (iv) Assignment and Acceptance; Term
Notes. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500 for each assignment (which fee the Administrative Agent may,
in its sole discretion, elect to waive), and the assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. If requested by the transferor Lender or the assignee, upon the consummation of any
assignment, the transferor Lender, the Administrative Agent and the Borrower shall make appropriate arrangements so that new Term Notes are issued to the assignee and such transferor Lender, as appropriate. 

(v) No Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of the Borrower’s
Affiliates or Subsidiaries, (B) to any Defaulting Lender or any of its Subsidiaries, or to any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or (C) to any Disqualified
Institution. 
 (vi) No Assignment to Natural Persons. No such assignment shall be made to a natural person. 

(vii) Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting
Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate
amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment
liabilities then owed by such Defaulting Lender to the Administrative Agent and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as 

  
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appropriate) its full pro rata share of all Loans in accordance with its Term Loan Commitment Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and
obligations of any Defaulting Lender hereunder shall become effective under Applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of
this Agreement until such compliance occurs. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to the immediately
following subsection (c), from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have
the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case
of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 5.4, 13.2 and 13.9
and the other provisions of this Agreement and the other Loan Documents as provided in Section 13.10 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent
otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender having been a Defaulting Lender. Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with
the immediately following subsection (d), other than any assignment to a Disqualified Institution, which shall be void ab initio. 
 (c)
Register. The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at the Principal Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of
the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the
Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower, Administrative Agent, sell
participations to any Person (other than a Disqualified Institution, a natural Person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights
and/or obligations under this Agreement; provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (iii) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to (w) increase such Lender’s Commitment, (x) extend the date fixed for the payment of principal on the Loans or portions thereof
owing to such Lender, (y) reduce the rate at which interest is payable thereon or (z) release any Guarantor from its Obligations under the Guaranty except as contemplated by Section 8.14(b), in each case, as applicable to that portion of such
Lender’s rights and/or obligations that are subject to the participation. The Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.10, 5.1, 5.4 (subject to the requirements and limitations therein, including the
requirements under Sections 3.10(g) and 5.7 (it being understood that the documentation required under Section 3.10(g) shall be delivered solely to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to subsection (b) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Section 5.6 as if it were an assignee under subsection (b) of this Section; and (B) shall not be entitled to
receive any greater payment under Sections 5.1 or 3.10, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a
Regulatory Change that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to

  
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cooperate with the Borrower to effectuate the provisions of Section 5.6 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the
benefits of Section 13.3 as though it were a Lender; provided that such Participant agrees to be subject to Section 3.3 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a
non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan
Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a
Participant’s interest in any commitments, loans or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan or other obligation is in registered
form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register
as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for
maintaining a Participant Register. 
 (e) Certain Pledges. Any Lender may at any time pledge or assign a security interest in
all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such
Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (f) No
Registration. Each Lender agrees that, without the prior written consent of the Borrower and the Administrative Agent, it will not make any assignment hereunder in any manner or under any circumstances that would require registration or
qualification of, or filings in respect of, any Loan or Term Note under the Securities Act or any other securities laws of the United States of America or of any other jurisdiction. 

(g) Disqualified Institutions. The Administrative Agent shall not be responsible or have any liability for, or have any duty to
ascertain, inquire into, monitor or enforce, compliance with the provisions relating to Disqualified Institutions. 
 (h) USA Patriot Act
Notice; Compliance. In order for the Administrative Agent to comply with “know your customer” and anti-money laundering rules and regulations, including without limitation, the Patriot Act, prior to any Lender that is organized under
the laws of a jurisdiction outside of the United States of America becoming a party hereto, the Administrative Agent may request, and such Lender shall provide to the Administrative Agent, its name, address, tax identification number and/or such
other identification information as shall be necessary for the Administrative Agent to comply with federal law. 
 Section 13.6
Amendments and Waivers. 
 (a) Generally. Except as otherwise expressly provided in this Agreement, (i) any consent or
approval required or permitted by this Agreement or any other Loan Document to be given by the Lenders may be given, (ii) any term of this Agreement or of any other Loan Document may be amended, (iii) the performance or observance by the
Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent of any terms of this Agreement or such other Loan Document may be waived, and (iv) the continuance of any Default or Event of Default may be waived (either generally or
in a particular instance and either retroactively or prospectively) with, but only with, the written consent of the Requisite Lenders (or the Administrative Agent at the written direction of the Requisite Lenders), and, in the case of an amendment
to any Loan Document, the written consent of each Loan Party which is party thereto. Subject to the immediately following subsection (b), any term of this Agreement or of any other Loan Document relating to the rights or obligations of the Term
Loan Lenders, and not any other Lenders, may be amended, and the performance or observance by the Parent, the Borrower or any other Loan Party or any other Subsidiary of the Parent of any such terms may be waived (either generally or in a particular
instance and either retroactively or prospectively) with, but only with, the written consent of the Requisite Lenders (and, in the case of an amendment to any Loan Document, the written consent of each Loan Party a party thereto). 

  
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 Notwithstanding anything to the contrary contained in this Section, the Fee Letter and the Agency
Fee Letter may only be amended, and the performance or observance by any Loan Party thereunder may only be waived, in a writing executed by the parties thereto. 

(b) Additional Lender Consents. In addition to the foregoing requirements, no amendment, waiver or consent shall: 

(i) increase (or reinstate) the Commitments of a Lender or subject a Lender to any additional obligations without the written
consent of such Lender; 
 (ii) reduce the principal of, or interest that has accrued or the rates of interest that will be
charged on the outstanding principal amount of, any Loans or other Obligations without the written consent of each Lender directly affected thereby; provided, however, only the written consent of the Requisite Lenders shall be required
for the waiver of interest payable at the Post-Default Rate, retraction of the imposition of interest at the Post-Default Rate and amendment of the definition of “Post-Default Rate”; 

(iii) reduce the amount of any Fees payable to a Lender without the written consent of such Lender; 

(iv) [Reserved]; 

(v) modify the definition of “Term Loan Maturity Date” or otherwise postpone any date fixed for, or forgive, any
payment of principal of, or interest on, any Term Loans or for the payment of Fees or any other Obligations owing to the Term Loan Lenders, in each case, without the written consent of each Term Loan Lender directly affected thereby; 

(vi) [Reserved]; 

(vii) modify the definition of “Pro Rata Share” or amend or otherwise modify the provisions of Section 3.2 or
Section 11.5 without the written consent of each Lender directly affected thereby; 
 (viii) amend this Section or amend
the definitions of the terms used in this Agreement or the other Loan Documents insofar as such definitions affect the substance of this Section without the written consent of each Lender; 

(ix) modify the definition of the term “Requisite Lenders” or modify in any other manner the number or percentage of
the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof without the written consent of each Lender; 

(x) [Reserved]; 

(xi) [Reserved]; or 

(xii) release (i) any Guarantor, or all or substantially all other Guarantors, from its or their respective obligations
under the Guaranty (except as contemplated by Section 8.14(b)) or (ii) except during a Collateral Suspension Period, all or substantially all of the value of the Collateral without the written consent of each Lender. 

(c) [Reserved] 
 (d)
Replacement of Non-Consenting Lenders. If any Lender is a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate,
without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 13.5, other than the consent of any Lender being so replaced), all of its interests, rights (other than its existing rights to
payments pursuant to Sections 3.10 and 5.1) and obligations under this Agreement 

  
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and the other Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that (i) the
Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 13.5(b)(iv); (ii) such Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans, accrued interest thereon,
accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 5.4) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in
the case of all other amounts); (iii) such assignment does not conflict with Applicable Laws; and (iv) the applicable assignee shall have consented to the applicable amendment, waiver or consent. A Lender shall not be required to make any such
assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. Each Lender agrees that, if the Borrower elects to
replace such Lender in accordance with this clause (d), it shall promptly execute and deliver to the Administrative Agent an Assignment and Assumption to evidence the assignment and shall deliver to the Administrative Agent any Term Note (if a Term
Note has been issued in respect of such Lender’s Loans) subject to such Assignment and Assumption; provided that the failure of any such Lender to execute an Assignment and Assumption shall not render such assignment invalid and such
assignment shall be recorded in the Register. 
 (e) Amendment of Administrative Agent’s Duties, Etc. No amendment, waiver
or consent unless in writing and signed by the Administrative Agent, in addition to the Lenders required hereinabove to take such action, shall affect the rights or duties of the Administrative Agent under this Agreement or any of the other Loan
Documents. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the
consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitments of any Defaulting Lender may not be increased, reinstated or extended without
the written consent of such Defaulting Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall
require the written consent of such Defaulting Lender. No waiver shall extend to or affect any obligation not expressly waived or impair any right consequent thereon and any amendment, waiver or consent shall be effective only in the specific
instance and for the specific purpose set forth therein. No course of dealing or delay or omission on the part of the Administrative Agent or any Lender in exercising any right shall operate as a waiver thereof or otherwise be prejudicial
thereto. Any Event of Default occurring hereunder shall continue to exist until such time as such Event of Default is waived in writing in accordance with the terms of this Section, notwithstanding any attempted cure or other action by the
Parent, the Borrower, any other Loan Party or any other Person subsequent to the occurrence of such Event of Default. Except as otherwise explicitly provided for herein or in any other Loan Document, no notice to or demand upon the Borrower
shall entitle the Borrower to other or further notice or demand in similar or other circumstances. 
 (f) Technical
Amendments. Notwithstanding anything to the contrary in this Section 13.6, if the Administrative Agent and the Borrower have jointly identified an ambiguity, omission, mistake or defect in any provision of this Agreement or an inconsistency
between provisions of this Agreement, the Administrative Agent and the Borrower shall be permitted to amend such provision or provisions to cure such ambiguity, omission, mistake, defect or inconsistency so long as to do so would not adversely
affect the interests of the Lenders. Any such amendment shall become effective without any further action or consent of any of other party to this Agreement. The Borrower shall be permitted, without consent of any other Person, to amend or
update any Schedule which the Borrower is otherwise expressly permitted or required hereunder to independently amend or update. 
 Section
13.7 Nonliability of Administrative Agent and Lenders. 
 The relationship between the Borrower, on the one hand, and the Lenders and
the Administrative Agent, on the other hand, shall be solely that of borrower and lender. None of the Administrative Agent or any Lender shall have any fiduciary responsibilities to the Borrower and no provision in this Agreement or in any of the
other Loan Documents, and no course of dealing between or among any of the parties hereto, shall be deemed to create any fiduciary duty owing by the Administrative Agent or any Lender to any Lender, the Parent, the Borrower, any Subsidiary of the
Parent or any other Loan Party. None of the Administrative Agent or any Lender undertakes any responsibility to the Borrower to review or inform the Borrower of any matter in connection with any phase of the Borrower’s business or operations.

  
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 Section 13.8 Confidentiality. 

The Administrative Agent and each Lender shall maintain the confidentiality of all Information (as defined below) but in any event may make
disclosure: (a) to its Affiliates and to its and its Affiliates’ other respective Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential); (b) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any actual or proposed assignee, Participant or other transferee in connection with a
potential transfer of any Commitment or participation therein as permitted hereunder (but, in each case, not to any Disqualified Institutions), or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction
relating to the Borrower and its obligations (but, in each case, not to any Disqualified Institutions); (c) as required or requested by any Governmental Authority or representative thereof or pursuant to legal process or in connection with any legal
proceedings, or as otherwise required by Applicable Law; (d) to the Administrative Agent’s or such Lender’s independent auditors and other professional advisors (provided they shall be notified of the confidential nature of the
information); (e) in connection with the exercise of any remedies under any Loan Document or any action or proceeding relating to any Loan Document or the enforcement of rights hereunder or thereunder; (f) to the extent such Information (i) becomes
publicly available other than as a result of a breach of this Section actually known by the Administrative Agent or such Lender to be a breach of this Section or (ii) becomes available to the Administrative Agent any Lender or any Affiliate of the
Administrative Agent or any Lender on a nonconfidential basis after due inquiry from a source other than the Borrower or any Affiliate of the Borrower; (g) to the extent requested by, or required to be disclosed to, any nationally recognized rating
agency or regulatory or similar authority (including any self-regulatory authority, such as the National Association of Insurance Commissioners) having or purporting to have jurisdiction over it; (h) to bank trade publications, such information to
consist of deal terms and other information customarily found in such publications; (i) to any other party hereto; and (j) with the consent of the Borrower. Notwithstanding the foregoing, the Administrative Agent and each Lender may disclose any
such confidential information, without notice to the Parent, the Borrower or any other Loan Party, to Governmental Authorities in connection with any regulatory examination of the Administrative Agent or such Lender or in accordance with the
regulatory compliance policy of the Administrative Agent or such Lender. As used in this Section, the term “Information” means all information received from the Parent, the Borrower, any other Loan Party, any other Subsidiary or
Affiliate relating to any Loan Party or any of their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by the Parent, the Borrower, any
other Loan Party, any other Subsidiary of the Parent or any Affiliate, provided that, in the case of any such information received from the Parent, the Borrower, any other Loan Party, any other Subsidiary of the Parent or any Affiliate after
the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

Section 13.9 Indemnification. 

(a) The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnified Party”) against, and hold each Indemnified Party harmless from, and shall pay or reimburse any such Indemnified Party for, any and all losses, claims (including
without limitation, Environmental Claims), damages, liabilities and related expenses (including without limitation, the fees, charges and disbursements of any counsel for any Indemnified Party (but limited, in the case of legal fees and expenses, to
the reasonable and documented out-of-pocket fees, disbursements and other charges of one counsel to all Indemnified Parties (taken as a whole) and, if reasonably necessary, a single local counsel for all Indemnified Parties (taken as a whole) in
each relevant jurisdiction and with respect to each relevant specialty, and in the case of an actual or perceived conflict of interest, one additional counsel in each relevant jurisdiction to the affected Indemnified Parties similarly situated and
taken as a whole)), incurred by any Indemnified Party or asserted against any Indemnified Party by any Person (including the Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent) other than such Indemnified Party and its
Related Parties, arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, 

  
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any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto or thereto of their respective obligations hereunder or thereunder or
the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or the use or proposed use of the proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated
by the Borrower, any other Loan Party or any other Subsidiary of the Parent, or any Environmental Claim related in any way to the Borrower, any other Loan Party or any other Subsidiary of the Parent, (iv) any actual or prospective claim, litigation,
investigation or proceeding (an “Indemnity Proceeding”) relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, any other Loan Party or any other
Subsidiary of the Parent, and regardless of whether any Indemnified Party is a party thereto or (v) any claim (including without limitation, any Environmental Claims), investigation, litigation or other proceeding (whether or not the Administrative
Agent or any Lender is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Loans, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or the
transactions contemplated hereby, including without limitation, reasonable attorneys and consultant’s fees; provided, however, that such indemnity shall not, as to any Indemnified Party, be available to the extent that such
losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (x) the gross negligence or willful misconduct of such Indemnified Party as
determined by a final non-appealable judgment of a court of competent jurisdiction, (y) in connection with any claim initiated, or counter-claim asserted, by the Borrower, a material breach of any express obligation of such Indemnified Party under
this Agreement as determined by a court of competent jurisdiction in a final non-appealable judgment or (z) any dispute solely among Indemnified Parties, other than any claims against any Indemnified Party in its respective capacity or in fulfilling
its role as an Administrative Agent or Arranger or any similar role hereunder, and other than any claims arising out of any act or omission on the part of the Parent, the Borrower, any other Loan Party or any other Subsidiary of the Parent; and
provided further, that this Section 13.9 shall not apply with respect to Taxes, other than any Taxes that represent losses, claims or damages arising from any non-Tax claim. 

(b) If and to the extent that the obligations of the Borrower under this Section are unenforceable for any reason, the Borrower hereby agrees
to make the maximum contribution to the payment and satisfaction of such obligations which is permissible under Applicable Law. 
 (c) The
Borrower’s obligations under this Section shall survive any termination of this Agreement and the other Loan Documents and the payment in full in cash of the Obligations, and are in addition to, and not in substitution of, any of the other
obligations set forth in this Agreement or any other Loan Document to which it is a party. 
 Section 13.10 Termination; Survival.

 This Agreement shall terminate at such time as (a) all of the Commitments have been terminated, (b) none of the Lenders is obligated any
longer under this Agreement to make any Loans and (c) all Obligations (other than obligations which survive as provided in the following sentence) have been paid and satisfied in full. The indemnities to which the Administrative Agent and the
Lenders are entitled under the provisions of Sections 3.10, 5.1, 5.4, 12.6, 13.2 and 13.9 and any other provision of this Agreement and the other Loan Documents, and the provisions of Section 13.4, shall continue in full force and effect and shall
protect the Administrative Agent and the Lenders (i) notwithstanding any termination of this Agreement, or of the other Loan Documents, against events arising after such termination as well as before and (ii) at all times after any such party ceases
to be a party to this Agreement with respect to all matters and events existing on or prior to the date such party ceased to be a party to this Agreement. 

Section 13.11 Severability of Provisions. 

If any provision of this Agreement or the other Loan Documents shall be determined by a court of competent jurisdiction to be invalid or
unenforceable, that provision shall be deemed severed from the Loan Documents, and the validity, legality and enforceability of the remaining provisions shall remain in full force as though the invalid, illegal, or unenforceable provision had never
been part of the Loan Documents. 

  
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 Section 13.12 GOVERNING LAW. 

THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND
TO BE FULLY PERFORMED, IN SUCH STATE. 
 Section 13.13 Counterparts. 

To facilitate execution, this Agreement and any amendments, waivers, consents or supplements may be executed in any number of counterparts as
may be convenient or required (which may be effectively delivered by facsimile, in portable document format (“PDF”) or other similar electronic means). It shall not be necessary that the signature of, or on behalf of, each party, or
that the signature of all persons required to bind any party, appear on each counterpart. All counterparts shall collectively constitute a single document. It shall not be necessary in making proof of this document to produce or account for more
than a single counterpart containing the respective signatures of, or on behalf of, each of the parties hereto. 
 Section 13.14 No
Advisory or Fiduciary Relationship. 
 In connection with all aspects of each transaction contemplated hereby (including in connection
with any amendment, waiver or other modification hereof or of any other Loan Document), each of the Parent and the Borrower acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i)(A) the arranging and other services
regarding this Agreement provided by Administrative Agent and Arrangers are arm’s-length commercial transactions between the Parent, the Borrower each other Loan Party and their respective Affiliates, on the one hand, and the Administrative
Agent and the Arrangers, on the other hand, (B) each of the Parent, the Borrower, and the other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Parent, the
Borrower and each other Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii)(A) the Administrative Agent, each Lender and each
Arranger is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Parent, the Borrower, any other Loan
Party, or any of their respective Affiliates, or any other Person and (B) neither the Administrative Agent, any Lender nor any Arranger has any obligation to the Parent, the Borrower, any other Loan Party, or any of their respective Affiliates with
respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, each Lender and each Arranger and their respective Affiliates may be engaged in
a broad range of transactions that involve interests that differ from those of the Parent, the Borrower, the other Loan Parties, and their respective Affiliates, and neither Administrative Agent, any Lender nor any Arranger has any obligation to
disclose any of such interests to the Parent, the Borrower, any other Loan Party, or any of their respective Affiliates. To the fullest extent permitted by Applicable Law, each of the Parent, the Borrower, and the other Loan Parties hereby waives
and releases any claims that it may have against the Administrative Agent, each Lender and each Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

 Section 13.15 Obligations with Respect to Loan Parties and Subsidiaries. 

The obligations of the Parent or the Borrower to direct or prohibit the taking of certain actions by the other Loan Parties and Subsidiaries
as specified herein shall be absolute and not subject to any defense the Parent or the Borrower may have that the Parent or the Borrower does not control such Loan Parties or Subsidiaries. 

Section 13.16 Independence of Covenants. 

All covenants hereunder shall be given in any jurisdiction independent effect so that if a particular action or condition is not permitted by
any of such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition
exists. 

  
 -85- 

 Section 13.17 Limitation of Liability. 

Except, in the case of the Loan Parties, to the extent otherwise subject to indemnification pursuant to Section 13.9, no party hereto or
any of their respective Related Parties (including any Indemnified Party) shall have any liability with respect to, and each party hereto hereby waives, releases, and agrees not to sue any other party hereto or any of their respective Related
Parties (including any Indemnified Party) upon, any claim for any special, indirect, incidental, consequential or punitive damages suffered or incurred by such party in connection with, arising out of, or in any way related to, this Agreement, any
of the other Loan Documents or any of the transactions contemplated by this Agreement or any of the other Loan Documents. No Indemnified Party referred to in Section 13.9(a) above shall be liable for any damages arising from the use by unintended
recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby
or thereby, except for any damages arising from such Indemnified Party’s gross negligence or willful misconduct, as determined by a final non-appealable judgment of a court of competent jurisdiction. 

Section 13.18 Entire Agreement. 

This Agreement, the Term Notes and the other Loan Documents embody the final, entire agreement among the parties hereto and supersede any and
all prior commitments, agreements, representations, and understandings, whether written or oral, relating to the subject matter hereof and thereof and may not be contradicted or varied by evidence of prior, contemporaneous, or subsequent oral
agreements or discussions of the parties hereto. To the extent any term of this Agreement is inconsistent with a term of any other Loan Document to which the parties of this Agreement are party, the term of this Agreement shall control to the
extent of such inconsistency. There are no oral agreements among the parties hereto. 
 Section 13.19 Construction. 

The Administrative Agent, the Borrower and each Lender acknowledge that each of them has had the benefit of legal counsel of its own choice
and has been afforded an opportunity to review this Agreement and the other Loan Documents with its legal counsel and that this Agreement and the other Loan Documents shall be construed as if jointly drafted by the Administrative Agent, the Borrower
and each Lender. 
 Section 13.20 Headings. 

The paragraph and section headings in this Agreement are provided for convenience of reference only and shall not affect its construction or
interpretation. 
 Section 13.21 Release of Liens. At such time as (i) the Termination Date has occurred or (ii) a Ratings Upgrade
shall have occurred, if no Event of Default is then continuing the Collateral shall be released from the Liens created by the Collateral Documents, and the Collateral Documents and all obligations (other than those expressly stated to survive such
termination) of the Administrative Agent and each Loan Party under the Collateral Documents shall terminate, all without delivery of any instrument or performance of any act by any Person, and the Administrative Agent shall execute and deliver to
any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. 

Section 13.22 Acknowledgement and Consent to Bail-In of EEA Financial Institutions. 

Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties,
each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and
agrees and consents to, and acknowledges and agrees to be bound by: 
 (a) the application of any Write-Down and Conversion Powers by an EEA
Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

  
 -86- 

 (b) the effects of any Bail-In Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 
 [Signatures on Following
Pages] 

  
 -87- 

 IN WITNESS WHEREOF, the parties hereto have caused this Credit Agreement to be executed by their
authorized officers all as of the day and year first above written. 
  

					
	VEREIT OPERATING PARTNERSHIP, L.P.
		
	By:	 	 /s/ Michael J. Bartolotta

		 	Name:	 	Michael J. Bartolotta
		 	Title:	 	Executive Vice President and Chief
		 		 	Financial Officer
	
	VEREIT, INC.
		
	By:	 	 /s/ Michael J. Bartolotta

		 	Name:	 	Michael J. Bartolotta
		 	Title:	 	Executive Vice President and Chief
		 		 	Financial Officer

  
 Signature Page to Credit
Agreement 

 
					
	JPMORGAN CHASE BANK, N.A., as Administrative Agent and as a Lender
		
	By:	 	 /s/ Rita Lai

		 	Name:	 	Rita Lai
		 	Title:	 	Executive Director
		 	Booking Branch: New York

  
 Signature Page to Credit
Agreement 

 
					
	BARCLAYS BANK PLC, as a Lender
		
	By:	 	 /s/ Vanessa Kurbatskiy

		 	Name:	 	Vanessa Kurbatskiy
		 	Title:	 	Vice President
		 	Booking Branch:

  
 Signature Page to Credit
Agreement 

 
					
	CITIBANK, N.A., as a Lender
		
	By:	 	 /s/ John C. Rowland

		 	Name:	 	John C. Rowland
		 	Title:	 	Vice President
		 	Booking Branch:

  
 Signature Page to Credit
Agreement 

 
					
	CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Frederick H. Denecke

		 	Name:	 	Frederick H. Denecke
		 	Title:	 	Senior Vice President
		 	Booking Branch: McLean, Virginia

  
 Signature Page to Credit
Agreement 

 
					
	GOLDMAN SACHS BANK USA, as a Lender
		
	By:	 	 /s/ Rebecca Kratz

		 	Name:	 	Rebecca Kratz
		 	Title:	 	Authorized Signatory
		 	Booking Branch:

  
 Signature Page to Credit
Agreement 

 
					
	MORGAN STANLEY BANK, N.A., as a Lender
		
	By:	 	 /s/ Michael King

		 	Name:	 	Michael King
		 	Title:	 	Authorized Signatory
		 	Booking Branch:

  
 Signature Page to Credit
AgreementEX-10.1

 Exhibit 10.1 

Execution Version 

RESTRUCTURING SUPPORT AGREEMENT 

This RESTRUCTURING SUPPORT AGREEMENT (this “Agreement”) is made and entered into as of June 2, 2016, by and among
(i) Warren Resources, Inc., a Maryland corporation (the “Parent Debtor”), (ii) the Subsidiary Debtors, (iii) GSO Capital Partners LP, solely on behalf of, and in its capacity as investment adviser or
sub-adviser to, certain funds and accounts (including subsidiaries of such funds and accounts) advised or sub-advised by it or its affiliates and named as signatories hereto (solely in such capacity, the “Plan Sponsor”) and
(iv) each beneficial holder (or investment manager or advisor for the beneficial holder) of Senior Notes Claims identified on the signature pages hereto (each, together with any of their respective successors and permitted assigns under this
Agreement, an “Initial Consenting Senior Noteholder,” and, together with any beneficial holder (or investment or advisor for a beneficial holder) of the Senior Notes Claims that becomes a party hereto after the Agreement
Effective Date in accordance with the terms hereof by executing and delivering a Joinder, an “Additional Consenting Senior Noteholder”, and together with the Initial Consenting Senior Noteholders, the “Consenting
Senior Noteholders”). Certain capitalized terms used herein are defined in Section 1.01 below. 
 RECITALS

 WHEREAS, the Parties have engaged in arm’s-length, good-faith discussions regarding a restructuring of the
Debtors’ capital structure on the terms set forth in the Restructuring Term Sheet attached hereto as Exhibit A, including the Debtors’ indebtedness and obligations under the First Lien Facility, the Second Lien Facility and the
Senior Notes; 
 WHEREAS, each Party desires that the Restructuring be implemented through the Agreed Restructuring Plan; 

WHEREAS, to effectuate the Restructuring, the Debtors propose to commence voluntary reorganization cases under the Bankruptcy Code in
the United States Bankruptcy Court for the Southern District of Texas; 
 WHEREAS, to ensure an orderly confirmation process in
connection with the Chapter 11 Cases, the Debtors are prepared to perform their obligations hereunder subject to the terms and conditions hereof, including, among other things, to file the Agreed Restructuring Plan and the Disclosure Statement,
and to use commercially reasonable efforts to have the Disclosure Statement approved and the Agreed Restructuring Plan confirmed by the Bankruptcy Court; 

WHEREAS, the Plan Sponsor has consented to permit the Debtors to continue to access cash collateral solely in accordance with the terms
and conditions set forth in the Interim Financing Order; 
 WHEREAS, the Plan Sponsor has agreed to provide to the Debtors the DIP
Credit Facility; 
 WHEREAS, subject to the execution of definitive documentation and appropriate approvals by the Bankruptcy Court,
the following sets forth the agreement among the Parties concerning their respective obligations with respect to the Restructuring; and 

 WHEREAS, each Party has reviewed or has had the opportunity to review this Agreement, the
Restructuring Term Sheet, the Interim Financing Order, and the DIP Credit Agreement, and each Party has agreed to the terms of the Restructuring on the terms set forth therein. 

NOW, THEREFORE, in consideration of the covenants and agreements contained herein, and for other valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, each Party, intending to be legally bound hereby, agrees as follows: 

AGREEMENT 
 Section 1.
Defined Terms; Incorporated Instruments; Conditions to Effectiveness. 
 1.01. Definitions. As used herein, the following
capitalized terms have the respective meanings assigned to them below: 
 “Agreed Restructuring Plan” means a joint
chapter 11 plan of reorganization (including all annexes, exhibits, or supplements thereto) that is consistent with the Restructuring Term Sheet in all material respects and shall contain such other terms and conditions acceptable to the Debtors and
the Plan Sponsor and reasonably acceptable to the Required Consenting Senior Noteholders. 
 “Bankruptcy Code” means
chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. 
 “Bankruptcy
Court” means the United States Bankruptcy Court for the Southern District of Texas (Houston Division). 
 “Business
Day” means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York or Houston, Texas are authorized or required by law to remain closed. 

“Chapter 11 Cases” means the voluntary reorganization cases of the Debtors under the Bankruptcy Code in the Bankruptcy
Court. 
 “Consenting Debt Claims Holder” means the beneficial owner of any Debt Claim that is a party to this
Agreement, on the date hereof or pursuant to a Joinder entered into in accordance with the term hereof. 
 “Consenting First Lien
Facility Claims Holder” means the Plan Sponsor and any other beneficial owner of First Lien Facility Claims that is a party to this Agreement, on the date hereof or pursuant to a Joinder entered into in accordance with the term hereof.

 “Consenting Senior Noteholder” means any beneficial owner of Senior Notes Claims that is a party to this
Agreement, on the date hereof or pursuant to a Joinder entered into in accordance with the term hereof. 
 “Debt
Claims” means any First Lien Facility Claims, Second Lien Facility Claims, and Senior Notes Claims. 

  
 2 

 “Debtor” means any of the Parent Debtor and the Subsidiary Debtors, and
“Debtors” means all of such entities collectively. 
 “Disclosure Statement” means the disclosure
statement describing the Agreed Restructuring Plan, the ballots and related solicitation materials, in each case in form and substance acceptable to the Debtors and the Plan Sponsor and reasonably acceptable to the Required Consenting Senior
Noteholders. 
 “DIP Credit Agreement” means the Senior Secured Term Loan Priority Collateral Priming Super-Priority
DIP Credit Agreement, in substantially the form attached hereto as Exhibit B, including all annexes thereto, as may be amended, supplemented, or modified from time to time in accordance with Section 7 of this Agreement. 

“DIP Credit Facility” means the debtor-in-possession credit facility governed pursuant to the terms set forth in the
DIP Credit Agreement. 
 “First Lien Facility” means the credit agreement, dated as of May 22, 2015, by
and among the Parent Debtor, as borrower, the guarantor parties thereto, the First Lien Facility Agent, and the lenders parties thereto, as amended, restated, amended and restated, supplemented, or otherwise modified from time to time. 

“First Lien Facility Agent” means Wilmington Trust, National Association, as administrative agent under the First Lien
Facility, and any successor administrative agent thereunder. 
 “First Lien Facility Claims” means all claims of
lenders or the First Lien Facility Agent, under the First Lien Facility. 
 “Interim Financing Order” means the
proposed interim order authorizing the Debtors to continue to use cash collateral attached hereto as Exhibit C, as may be amended, supplemented, or modified from time to time in accordance with Section 7 of this Agreement. 

“Joinder” means a joinder in the form attached hereto as Exhibit D. 

“Party” means each of the parties to this Agreement and “Parties” means all of such entities collectively.

 “Required Consenting Senior Noteholders” means, as of any date of determination, the Consenting Senior
Noteholders, collectively holding at least a majority of the aggregate outstanding principal amount of all the Senior Notes held by the Consenting Senior Noteholders. 

“Restructuring” means the restructuring of the Debt Claims pursuant to the terms and conditions set forth herein and
in the Restructuring Term Sheet. 
 “Restructuring Term Sheet” means the Restructuring Term Sheet attached hereto as
Exhibit A, as may be amended, supplemented, or modified from time to time in accordance with Section 7 of this Agreement. 

  
 3 

 “Second Lien Facility” means the credit agreement, dated as of
October 22, 2015, by and among the Parent Debtor, as borrower, the guarantor parties thereto, Cortland Capital Market Services, LLC, as administrative agent, and the lenders thereto, as amended, restated, amended and restated,
supplemented, or otherwise modified from time to time. 
 “Second Lien Facility Agent” means Cortland Capital Market
Services, LLC, as administrative agent under the Second Lien Facility, and any successor administrative agent thereunder. 

“Second Lien Facility Claims” means all claims of lenders or the Second Lien Facility Agent, under the Second Lien
Facility. 
 “Senior Notes” means the 9.000% Senior Notes due 2022 issued by the Parent Debtor under the Senior
Notes Indenture. 
 “Senior Notes Claims” means all claims of holders of the Senior Notes thereunder or under the
Senior Notes Indenture. 
 “Senior Notes Indenture” means the indenture, dated as of August 11, 2014, by
and among the Parent Debtor, as issuer, the subsidiary guarantor parties thereto, and the Senior Notes Trustee, as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, providing for the issuance of the
Senior Notes. 
 “Senior Notes Trustee” means U.S. Bank National Association, as trustee under the Senior Notes
Indenture, and any successor trustee thereunder. 
 “Subsidiary Debtors” means the following subsidiaries of the
Parent Debtor: (i) Warren E&P, Inc., a New Mexico corporation, (ii) Warren Resources of California, Inc., a California corporation, (iii) Warren Management Corp., a Delaware corporation, (iv) Warren Energy Services, LLC, a
Delaware limited liability company and (v) Warren Marcellus LLC, a Delaware limited liability company. 

“Transfer” with respect to any Debt Claim, means to sell, pledge, hypothecate, or otherwise transfer or dispose of, or
grant, issue or sell any option, right to acquire, voting participation or other interest in such Debt Claim. “Transferee” has the correlative meaning. 

1.02. Interpretation. Unless otherwise specified, references in this Agreement to any Section or clause refer to such Section or clause
as contained in this Agreement. The words “herein,” “hereof” and “hereunder” and other words of similar import in this Agreement refer to this Agreement as a whole, and not to any particular Section or clause contained
in this Agreement. Wherever from the context it appears appropriate, each term stated in either the singular or plural shall include the singular and the plural. The words “including”, “includes” and “include” shall be
deemed to be followed by the words “without limitation”. 
 1.03. Incorporated Instruments. The Restructuring Term Sheet,
the Interim Financing Order, and the DIP Credit Agreement (as such documents, including all exhibits and annexes thereto, may be amended or modified in accordance with Section 7 hereof) are expressly incorporated by reference herein and made a
part of this Agreement as if fully set forth herein. 

  
 4 

 1.04. Conditions to Effectiveness. This Agreement shall become effective and binding upon
each of the Parties on the date and time (the “Agreement Effective Date”) immediately following the execution and delivery of this fully-executed Agreement by each Debtor, the Plan Sponsor, and Consenting Senior Noteholders
that in the aggregate hold of at least 66 2/3% of the aggregate outstanding principal amount of the Senior Notes Claims (determined without regard to any claims held by a person or entity that is an “insider” as that term is defined in
section 101(31) of the Bankruptcy Code), it being understood that the execution and delivery of the signature pages by each Party hereto shall represent an acknowledgement by such Party that each such conditions have been met. Upon and after the
Agreement Effective Date, the terms and conditions herein may only be amended, modified, waived, or otherwise supplemented as set forth in Section 7 hereof. 

Section 2. Restructuring Term Sheet, Interim Financing Order, and DIP Credit Agreement. 

The general terms and conditions of the Restructuring are set forth in the Restructuring Term Sheet, the Interim Financing Order, and the DIP
Credit Agreement, in each case, as supplemented by the terms and conditions of this Agreement. In the event of any inconsistencies between the terms of this Agreement, on one hand, and the Restructuring Term Sheet, the Interim Financing Order,
and/or the DIP Credit Agreement, on the other hand, the terms of this Agreement shall control and govern. In the event of any inconsistencies between the Restructuring Term Sheet, on the one hand, and the Interim Financing Order and/or the DIP
Credit Agreement, on the other hand, the Interim Financing Order shall control and govern. 
 Section 3. Commitments Regarding the Restructuring
Transactions. 
 3.01. Agreement to Support. 

(a) Commitment of the Debtors. Subject to the terms and conditions hereof and for so long as this Agreement has not been
terminated in accordance with the terms hereof, each Debtor shall comply with the following covenants: 
 (i) Each Debtor
shall support consummation of the Restructuring, including the solicitation, confirmation, and consummation of the Agreed Restructuring Plan pursuant to the terms set forth herein or in the Restructuring Term Sheet, the Interim Financing Order or
the DIP Credit Agreement. 
 (ii) Except as otherwise expressly permitted hereby, each Debtor shall not, directly or
indirectly, in its capacity as a Party or otherwise, in all material respects, 
 (A) object to, delay, impede, or take any
other action to interfere with the Restructuring (including entry of the Interim Financing Order or approval of the DIP Credit Facility), 

(B) propose, file, support, seek, solicit, encourage, or vote (or to cause any of the foregoing to occur) for any
restructuring, chapter 11 plan, proposal, offer, dissolution, winding up, liquidation, reorganization, merger, consolidation, business combination, joint venture, partnership, or sale of assets (including an asset sale under section 363 of the
Bankruptcy Code) for any of the Debtors, other than the Agreed Restructuring Plan, or 

  
 5 

 (C) take any other action that is inconsistent with or that would delay or
obstruct the proposal, solicitation, confirmation, or consummation of the Agreed Restructuring Plan. 
 (iii) Each Debtor
shall not object to the Agreed Restructuring Plan, or otherwise commence any proceeding to oppose the Agreed Restructuring Plan, the Disclosure Statement, or any other pleadings or reorganization documents filed by any of the Debtors in connection
with the Agreed Restructuring Plan. 
 (b) Commitment of the Consenting Debt Claims Holders. Subject to the terms and
conditions hereof and for so long as this Agreement has not been terminated in accordance with the terms hereof, each Consenting Debt Claims Holder agrees to comply with the following covenants (provided however that nothing in this clause
(b) shall require any Consenting Senior Noteholder to incur any material expenses, liabilities or other obligations, or agree to any commitments, undertakings, concessions, indemnities or other arrangement that could result in the incurrence of
any material expenses, liabilities or other obligations by any Consenting Senior Noteholder): 
 (i) Each Consenting Debt
Claims Holder shall support consummation of the Restructuring, including the solicitation, confirmation, and consummation of the Agreed Restructuring Plan pursuant to the terms set forth in the Restructuring Term Sheet, the Interim Financing Order,
the DIP Credit Agreement, and this Agreement. 
 (ii) Except as otherwise expressly permitted by this Agreement, each
Consenting Debt Claims Holder shall not, directly or indirectly, in its capacity as a Consenting Debt Claims Holder or otherwise, in all material respects, 

(A) object to, delay, impede, or take any other action to interfere with the Restructuring (including entry of the Interim
Financing Order or approval of the DIP Credit Facility), 
 (B) propose, file, support, seek, solicit, encourage, or vote (or
to cause any of the foregoing to occur) for any restructuring, chapter 11 plan, proposal, offer, dissolution, winding up, liquidation, reorganization, merger, consolidation, business combination, joint venture, partnership, or sale of assets
(including an asset sale under section 363 of the Bankruptcy Code) for any of the Debtors, other than the Agreed Restructuring Plan, or 

(C) take any other action that is inconsistent with or that would delay or obstruct the proposal, solicitation, confirmation,
or consummation of the Agreed Restructuring Plan. 

  
 6 

 (iii) Each Consenting Debt Claims Holder shall, so long as its vote has been
properly solicited pursuant to sections 1125 and 1126 of the Bankruptcy Code, including its receipt of a Bankruptcy Court-approved Disclosure Statement: 

(A) vote or cause to be voted all of its Debt Claims, to accept the Agreed Restructuring Plan by delivering its duly executed
and timely completed ballot or ballots accepting the Agreed Restructuring Plan following commencement of the solicitation of acceptances of the Agreed Restructuring Plan in accordance with sections 1125 and 1126 of the Bankruptcy Code, and 

(B) not change or withdraw such vote (or cause or direct such vote to be changed or withdrawn); provided that, upon
termination of this Agreement pursuant to the terms hereof, such vote shall be immediately revoked and deemed void ab initio. 

(iv) Each Consenting Debt Claims Holder shall not object to, or vote or cause to be voted any of its Debt Claims or other
claims under its control to reject, the Agreed Restructuring Plan, or otherwise commence any proceeding to oppose the Agreed Restructuring Plan, the Disclosure Statement, or any other pleadings or reorganization documents filed by any of the Debtors
in connection with the Agreed Restructuring Plan. 
 (v) Subject to the terms and conditions hereof, the Plan Sponsor agrees
to provide the DIP Credit Facility pursuant to the DIP Credit Agreement (subject to the terms and conditions therein), and each Consenting Debt Claims Holder agrees to the proposed treatment of the DIP Credit Facility set forth in the Restructuring
Term Sheet. 
 (c) Reservation of Rights Regarding Commitment to Support the Restructuring. Notwithstanding the
foregoing, except as otherwise expressly set forth in this Agreement and subject to the terms and conditions hereof, the foregoing provisions of Section 3.01 hereof shall not: 

(i) prohibit the Consenting First Lien Facility Claims Holder from issuing any instruction to the First Lien Facility Agent to
take or not take any action relating to the maintenance, protection, and preservation of the collateral under the First Lien Facility; 

(ii) prohibit any Consenting Senior Noteholder from issuing any instruction to the Senior Notes Trustee to take or not take any
action relating to the Senior Notes Indenture or the Senior Notes; 
 (iii) prohibit the Consenting First Lien Facility
Claims Holder or the Consenting Senior Noteholders from objecting to any motion or pleading filed with the Bankruptcy Court seeking approval to use cash collateral in a manner inconsistent with the Restructuring Term Sheet, the Interim Financing
Order or use proceeds of the DIP Credit Facility in a manner inconsistent with the DIP Credit Agreement or the Final Financing Order in any material respect; 

  
 7 

 (iv) limit the rights of the Parties under applicable law to appear and
participate as a party in interest in any matter to be adjudicated in any case under the Bankruptcy Code (or otherwise) concerning the Debtors, so long as such appearance and the positions advocated in connection therewith are not inconsistent with
this Agreement or the terms of the proposed Restructuring in any material respect, and do not hinder, delay, or prevent consummation of the proposed Restructuring; or 

(v) prohibit the Parties from appearing in proceedings for the purpose of contesting whether any matter or fact is or results
in a breach of, or is inconsistent with, this Agreement; provided that, in the event this Agreement is terminated, this Agreement and all communications and negotiations among the Parties with respect hereto or any of the transactions
contemplated hereunder are without waiver or prejudice to the Parties’ rights and remedies and the Parties hereby reserve all claims, defenses, and positions that they may have with respect to each other. 

Furthermore, nothing in this Agreement shall be deemed to (1) limit or restrict any action by any Party to enforce any right, remedy, condition, consent,
or approval requirement under the Restructuring Term Sheet, the Agreed Restructuring Plan, or the Definitive Documents (as defined below) or (2) prevent any of the Debtors from taking any action that it is obligated to take (or failing to take
any action that it is obligated to fail to take) in the performance of any fiduciary duty or as otherwise required by applicable law that such Debtor or the board of directors (or the members of any other governing body performing a similar
function) of such Debtor owes to any other person or entity under applicable law; provided that it is agreed that any such action that results in a Termination Event (as defined below) shall be subject to the provisions set forth in Section 5
hereof. Each of the Debtors represents to the Consenting First Lien Facility Claims Holder and the Consenting Senior Noteholders that, as of the Agreement Effective Date, based on the facts and circumstances actually known by such Debtor as of the
Agreement Effective Date and after consulting with such Debtor’s legal counsel, such Debtor’s entry into this Agreement is consistent with the fiduciary duties or the board of directors (or the members of any other governing body
performing a similar function) of such Debtor. 
 (d) Definitive Documents. 

(i) Subject to the terms and conditions hereof, each Party shall negotiate in good faith each of the documents implementing,
achieving and relating to the Restructuring, including all definitive documents necessary for the Agreed Restructuring Plan, including: 

(A) all first-day motions, applications, and proposed orders, including those relating to paying general unsecured claims,
paying utility providers, paying critical vendors, continuing customer programs, paying employee wages, paying insurance providers, and maintaining the Debtors’ existing cash management system; 

(B) the Agreed Restructuring Plan; 

  
 8 

 (C) the Disclosure Statement, ballots, and other solicitation materials in
respect of the Agreed Restructuring Plan (collectively, the “Plan Solicitation Materials”) and the related proposed order approving the Plan Solicitation Materials (the “Disclosure Statement
Order”); 
 (D) any motion to approve the Disclosure Statement and seek confirmation of the Agreed Restructuring
Plan; 
 (E) the proposed order confirming the Agreed Restructuring Plan (the “Confirmation
Order”), which must be in form and substance acceptable to the Plan Sponsor and the Debtors and reasonably acceptable to the Required Consenting Senior Noteholders; 

(F) the Interim Financing Order, the motion for entry of the Interim Financing Order, approval of the DIP Credit Facility, and
entry of a final order approving the DIP Credit Facility, which order shall be in form and substance satisfactory to the Plan Sponsor and the Company and reasonably satisfactory to the Required Consenting Senior Noteholders (the “Final
Financing Order”); 
 (G) any document or agreement referenced in this Agreement, the Restructuring Term Sheet,
and/or the DIP Credit Agreement, including the definitive documents governing the New First Lien Facility (as defined in the Restructuring Term Sheet) and the warrant agreement governing the New Warrants (as defined in the Restructuring Term Sheet);

 (H) the documents comprising the plan supplement setting forth, among other things, (1) executory contracts and
unexpired leases to be assumed or rejected, (2) the identities of each Debtor’s post-effective date directors, managers, and officers (as applicable), (3) claims and causes of action held by the Debtors to be retained or released, as
applicable, by the reorganized Debtors on the Agreed Restructuring Plan’s effective date and (4) the corporate documents (including bylaws, charters, shareholder agreement and other similar corporate documents) for the reorganized Debtors
(the “Plan Supplement”); and 
 (I) such other documents and instruments necessary or
appropriate to implement the Restructuring (together with the Plan Supplement, and all documents, agreements, motions or orders described in the immediately foregoing clauses (A) through (I), the “Definitive
Documents”); and 
 (ii) Subject to the terms and conditions hereof, and for so long as this Agreement has not
been terminated, each Party shall execute the Definitive Documents that require execution by such Party and otherwise support the Definitive Documents. 

(iii) The Definitive Documents shall be consistent in all material respects with the Restructuring Term Sheet and shall contain
such other terms and conditions acceptable to the Debtors and the Plan Sponsor and reasonably acceptable to the Required Consenting Senior Noteholders. 

  
 9 

 (e) Plan Sponsor Fees and Expenses. The Debtors shall pay, when due and
payable, all outstanding prepetition and postpetition fees and expenses incurred by the Plan Sponsor and its advisors, including the fees of and expenses incurred by Kirkland & Ellis LLP, as counsel to the Plan Sponsor, Zack A. Clement
PLLC, as local counsel to the Plan Sponsor, and any financial advisor, technical advisor, or other consultant, advisor, analyst, or other professional engaged by the Plan Sponsor in connection with the Chapter 11 Cases. If this Agreement is
terminated in accordance with its terms, any unpaid fees and expenses shall be paid in full within five (5) Business Days of such termination. The fees and expenses owed under this section shall be entitled to administrative expense priority
status. 
 (f) Consenting Senior Noteholder Fees and Expenses. Prior to the Petition Date, the Debtors shall pay all
then-accrued but unpaid reasonable and documented prepetition fees and expenses incurred by Stroock & Stroock & Lavan LLP (“Stroock”), as counsel to the Initial Consenting Senior Noteholders, and Haynes and
Boone, LLP (“HB”), as local counsel to the Initial Consenting Senior Noteholders, plus a retainer in an amount to be agreed between Stroock and the Company. Following the Petition Date, the Debtors shall pay, within 10
calendar days’ receipt of an invoice, all outstanding prepetition and postpetition fees and expenses incurred by the Consenting Senior Noteholders, including the fees of and expenses incurred by Stroock and HB. If this Agreement is terminated
in accordance with its terms, any unpaid fees and expenses shall be paid in full within five (5) Business Days of such termination. The fees and expenses owed under this section shall be entitled to administrative expense priority status. 

(g) Alternative Proposals. In the event that, during the period from the Agreement Effective Date until the entry of an
order approving the Disclosure Statement describing the Agreed Restructuring Plan, the Debtors receive a Superior Proposal (as defined below), the Debtors shall promptly provide a written copy of such Superior Proposal to Stroock, the Consenting
Supporting Noteholders, the Plan Sponsor and, upon request of the Plan Sponsor, its professionals engaged by the Plan Sponsor in connection with the Chapter 11 Cases. A “Superior Proposal” means a bona fide written proposal determined by
the board of directors of the Parent Debtor, in good faith after consultation with the Parent Debtor’s external legal counsel and its financial advisor, to be (i) more favorable, from a financial point of view, to the Debtors’
stakeholders than the transactions contemplated by the Agreed Restructuring Plan, and (ii) reasonably likely to be consummated on a timely basis, taking into account legal, financial, regulatory, and other aspects of the proposal (including
conditions to consummation). 
 3.02. Obligations of the Debtors. 

(a) Subject to entry into appropriate confidentiality agreements, each of the Debtors shall permit and facilitate any and all
due diligence necessary to consummate the Restructuring, including: (i) cooperating fully with the Plan Sponsor and the Consenting Senior Noteholders and each of their respective officers, directors, employees, and advisors, in furnishing
information, as and when requested, including with respect to the Debtors’ financial affairs, finances, financial condition, and business operations; (ii) authorizing the Plan Sponsor and the Consenting Senior Noteholders to meet and/or

  
 10 

 
have discussions with any of its officers, directors, employees, and advisors from time to time as reasonably requested by the Plan Sponsor or the Consenting Senior Noteholders to discuss any
matters regarding the Debtors’ financial affairs, finances, financial condition, and business operations; and (iii) directing and authorizing all such persons and entities to fully disclose to the Plan Sponsor or the Consenting Senior
Noteholders all information requested by the Plan Sponsor or the Consenting Senior Noteholders regarding the foregoing. 

(b) Each of the Debtors shall: 

(i) no later than 11:59 p.m., prevailing Central Time, on June 2, 2016 (the “Petition Date”),
commence the Chapter 11 Cases in the Bankruptcy Court; 
 (ii) no later than the Petition Date, file a motion (the
“Financing Motion”) for entry of the Interim Financing Order and the Final Financing Order; 
 (iii)
no later than five (5) days after the Petition Date, cause the Bankruptcy Court to have entered the Interim Financing Order; 

(iv) no later than fourteen (14) days after the Petition Date, file with the Bankruptcy Court the Agreed Restructuring
Plan and the Disclosure Statement; 
 (v) no later than forty-five (45) days after the Petition Date, cause the
Bankruptcy Court to have entered the Final Financing Order; 
 (vi) no later than forty (40) days after filing the
Disclosure Statement, cause the Bankruptcy Court to have entered an order approving the adequacy of the Disclosure Statement (the “Disclosure Statement Order”); 

(vii) no later than fifty (50) days after the entry of the Disclosure Statement Order, cause the Bankruptcy Court to have
entered the Confirmation Order; 
 (viii) no later than twenty-five (25) days after the entry of the Confirmation Order,
cause the effective date of the Agreed Restructuring Plan (the “Plan Effective Date”) to occur. 

(c) Each of the Parties shall distribute draft copies of all motions, applications (including retention applications), proposed
orders, pleadings, and other related documents that such Party intends to file with the Bankruptcy Court to counsel to each of the Debtors, the Plan Sponsor, and the Initial Consenting Senior Noteholders, at least three (3) Business Days prior
to the date when such Party intends to file such document; provided that with respect to any such document that is or relates to a Definitive Document, such document shall be provided at least five (5) Business Days prior to the date
when such Party intends to file such Definitive Document or document related thereto, and prior to any such filing shall consult in good faith with the other Parties regarding the form and substance of any such proposed filing; provided,
further, that in the event of exigent circumstances that are not reasonably foreseen, each of the Parties shall use its best efforts to distribute such draft copies at the earliest practicable time. 

  
 11 

 (d) Each of the Debtors shall (i) operate its business in the ordinary
course, including maintaining its accounting methods, using commercially reasonable efforts to preserve its assets and business relationships, continuing its billing and collection procedures, using commercially reasonable efforts to retain key
employees, and maintaining its business records in accordance with its past practices, and (ii) not sell, transfer, or otherwise dispose of any material portion of its assets, other than hydrocarbons in the ordinary course of business and other
than as permitted in the Interim Financing Order and/or the DIP Credit Agreement. 
 (e) Each of the Parties shall timely
file a formal objection to any motion filed with the Bankruptcy Court by a third party seeking the entry of an order (i) directing the appointment of a trustee or an examiner with the authority to operate the Debtors’ businesses pursuant
to section 1104 of the Bankruptcy Code, (ii) converting the Chapter 11 Cases to cases under chapter 7 of the Bankruptcy Code, or (iii) dismissing the Chapter 11 Cases. 

(f) Each of the Parties shall timely file a formal objection to any motion filed with the Bankruptcy Court by a third party
seeking the entry of an order modifying or terminating the Debtors’ exclusive right to file and/or solicit acceptances of a chapter 11 plan; provided that nothing in this Agreement shall prohibit or restrict the rights of the
Parties to seek to have the Agreed Restructuring Plan confirmed. 
 (g) Each of the Debtors shall not enter into a new
employment agreement or amend, restate, or otherwise change the compensation for any member of management prior to the consummation of the Restructuring without the prior written consent of the Plan Sponsor. 

(h) Each of the Debtors shall not assume, assume and assign, or reject any executory contracts or unexpired leases without the
prior written consent of the Plan Sponsor. 
 Section 4. Representations and Warranties. 

4.01. Mutual Representations and Warranties. Each of the Parties, severally and not jointly, represents and warrants to each other
Party, as of the date of this Agreement, as follows (each of which is a continuing representation and warranty): 
 (a) It is
validly existing and in good standing under the laws of the state of its organization, and this Agreement is a legal, valid, and binding obligation of such Party, enforceable against it in accordance with its terms, except as enforcement may be
limited by applicable laws relating to or limiting creditor’s rights generally or by equitable principles relating to enforceability; 

  
 12 

 (b) Except as expressly provided in this Agreement, it has all requisite power
and authority to enter into this Agreement and to carry out the Restructuring and otherwise perform its obligations under this Agreement; 

(c) The execution and delivery by such Party of this Agreement and the performance of its obligations hereunder have been duly
authorized by all necessary action on its part; and 
 (d) It has been represented by legal counsel of its choosing in
connection with this Agreement and the transactions contemplated hereby, has had the opportunity to review this Agreement with its legal counsel and has not relied on any statements made by any other Party or its legal counsel as to the meaning of
any term or condition contained herein or in deciding whether to enter into this Agreement or the transactions contemplated hereby. 
 4.02.
Representations of Each Consenting First Lien Facility Claims Holder. Each Consenting First Lien Facility Claims Holder represents and warrants that, as of the Agreement Effective Date: 

(a) such Consenting First Lien Facility Claims Holder, together with its affiliates that are parties hereto, is the beneficial
owner of the entire principal amount of the First Lien Facility Claims, or is the nominee, investment manager, advisor, and/or sub-advisor for the beneficial holders or otherwise has the ability to vote or cause to be voted such First Lien Facility
Claims; 
 (b) other than pursuant to this Agreement, such First Lien Facility Claims are free and clear of any pledge, lien,
security interest, charge, claim, equity, option, proxy, voting restriction, right of first refusal or other limitation on disposition, or encumbrances of any kind, that would adversely affect in any way such Consenting First Lien Facility Claims
Holder’s performance of its obligations contained in this Agreement at the time such obligations are required to be performed; and 

(c) such Consenting First Lien Facility Claims Holder has the direct or indirect authority to act on behalf of, cause to be
voted or vote and consent to matters concerning such First Lien Facility Claims and to dispose of, exchange, assign and transfer such rights with respect to such First Lien Facility Claims. 

4.03. Representations of the Consenting Senior Noteholders. Each Consenting Senior Noteholder, severally and not jointly, represents
and warrants that, as of the Agreement Effective Date: 
 (a) it is the beneficial owner of the principal amount of the
Senior Notes Claims (and the Senior Notes to which such Senior Notes Claim relate), stated in the signature block to this Agreement of such Consenting Senior Noteholder, or is the nominee, investment manager, advisor, and/or sub-advisor for the
beneficial holders or otherwise has the ability to vote or cause to be voted such Senior Notes Claims; 

  
 13 

 (b) other than pursuant to this Agreement, such Senior Notes Claims (and the
Senior Notes to which such Senior Notes Claim relate) are free and clear of any pledge, lien, security interest, charge, claim, equity, option, proxy, voting restriction, right of first refusal or other limitation on disposition, or encumbrances of
any kind, that would adversely affect in any way such Consenting Senior Noteholder’s performance of its obligations contained in this Agreement at the time such obligations are required to be performed; and 

(c) it has the direct or indirect authority to act on behalf of, cause to be voted or vote and consent to matters concerning
the Senior Notes Claims and to dispose of, exchange, assign and transfer such rights with respect to the Senior Notes Claims. 
 Section 5.
Termination Events. 
 5.01. Plan Sponsor Termination Events. The Plan Sponsor may terminate its obligations and liabilities under
this Agreement upon three (3) Business Days’ prior written notice (in accordance with Section 9.10 hereof) to the Debtors and counsel to the Required Consenting Senior Noteholders of the occurrence of any of the following events
(each, a “Plan Sponsor Termination Event”): 
 (a) Plan Sponsor Termination Events. Each
of the following events constitutes a Plan Sponsor Termination Event: 
 (i) any of the events listed in
Section 3.02(b) hereof does not occur by the dates set forth therein; 
 (ii) a Termination Date (as defined in
either the Interim Financing Order or the DIP Credit Agreement) occurs; 
 (iii) the breach in any respect by any Debtor or
the Required Consenting Senior Noteholders of (or failure to satisfy) any of their respective obligations, representations, warranties, or covenants set forth in this Agreement (excluding those set forth in Section 3.02(b) hereof) and failure
to cure such breach within five (5) Business Days of the Debtors or the Required Consenting Senior Noteholders, as applicable, receiving written notice from the Plan Sponsor of such breach in accordance with Section 9.10 hereof; 

(iv) the Debtors or the Required Consenting Senior Noteholders file any motion, pleading, any Definitive Document, or related
document with the Bankruptcy Court in a manner that is inconsistent in any respect with this Agreement, the Restructuring Term Sheet, the Interim Financing Order, or the DIP Credit Agreement, and such motion, pleading, or related document has not
been withdrawn after three (3) Business Days of the Debtors or the Required Consenting Senior Noteholders receiving written notice in accordance with Section 9.10 hereof from the Plan Sponsor that such motion, pleading, or related document
violates this Section 5.01(a)(iv); 

  
 14 

 (v) the Bankruptcy Court enters an order approving debtor-in-possession financing
or exit financing that is inconsistent with the Restructuring Term Sheet and otherwise not agreed to by the Plan Sponsor; 

(vi) any of the Definitive Documents, the Interim Financing Order, the Final Financing Order or any other order entered by the
Bankruptcy Court related thereto shall have been modified, abrogated, terminated, or otherwise is not in full force and effect, without the consent of the Plan Sponsor; 

(vii) the issuance by any governmental authority, including any regulatory authority or court of competent jurisdiction, of any
ruling or order enjoining the consummation of the Restructuring in a way that cannot be reasonably remedied by the Debtors in a manner that does not prevent or diminish in a material way compliance with the terms of this Agreement, the Restructuring
Term Sheet, the Interim Financing Order, or the DIP Credit Agreement; provided that the Debtors shall have ten (10) Business Days after receiving such ruling or order to cure any breach in a manner that does not prevent or diminish in a
material way compliance with the terms of this Agreement, the Restructuring Term Sheet, the Interim Financing Order, or the DIP Credit Agreement; 

(viii) the Bankruptcy Court enters an order (A) directing the appointment of an examiner with expanded powers to operate
the Debtors’ businesses pursuant to section 1104 of the Bankruptcy Code or a trustee in any of the Chapter 11 Cases, (B) converting any of the Chapter 11 Cases to cases under chapter 7 of the Bankruptcy Code, or
(C) dismissing any of the Chapter 11 Cases; 
 (ix) the Bankruptcy Court enters an order terminating the
Debtors’ exclusive right to file a chapter 11 plan pursuant to section 1121 of the Bankruptcy Code; provided that the Plan Sponsor must provide notice (in accordance with Section 9.10 hereof) of its intention to terminate
its obligations and liabilities under this Agreement with respect to the foregoing no more than 10 days following entry of any such order terminating the Debtors’ exclusive right to file a chapter 11 plan pursuant to section 1121 of
the Bankruptcy Code; 
 (x) the board of directors (or the members of any other governing body performing a similar function)
of any Debtor determines, after consultation with its legal counsel, that proceeding with the transactions contemplated by this Agreement would be inconsistent with the continued exercise of their fiduciary duties (including by filing a motion or
other document in the Bankruptcy Court seeking approval of a Superior Proposal); or 
 (xi) the Company determines, after
reasonable due diligence, investigation and analysis, that aggregate prepetition general unsecured claims (other than prepetition general unsecured claims on account of or related to the First Lien Facility Claims, Second Lien Facility Claims,
Senior Note Claims, and/or the Citrus Earn Out Claim) asserted against any Debtor are reasonably likely to exceed $35,000,000, which determination shall be made and distributed to counsel to the Plan Sponsor and the Initial Consenting Senior
Noteholders no later than 15 calendar days after the Petition Date. 

  
 15 

 (b) No Violation of Automatic Stay. The Parties are each authorized to
take any steps necessary to effectuate the reimbursement of fees and expenses hereunder or termination of this Agreement, as applicable, including sending any applicable notices to the Debtors, notwithstanding section 362 of the Bankruptcy Code
or any other applicable law, and no cure period contained in this Agreement, the Interim Financing Order, or the DIP Credit Agreement shall be extended pursuant to sections 108 or 365 of the Bankruptcy Code, or any other applicable law. 

5.02. Debtor Termination Events. The Debtors may terminate their obligations and liabilities under this Agreement upon three (3)
Business Days’ prior written notice (in accordance with Section 9.10 hereof) to the Plan Sponsor or counsel to the Required Consenting Senior Noteholders, as applicable, of the occurrence of any of the following events (each,
a “Debtor Termination Event”): 
 (a) the material breach by the Plan Sponsor or the Required
Consenting Senior Noteholders of any of their respective representations, warranties, or covenants set forth in this Agreement that remains uncured for a period of five (5) Business Days after it receives written notice of such breach from any
of the Debtors; 
 (b) the issuance by any governmental authority, including any regulatory authority or court of competent
jurisdiction, of any final, non-appealable ruling or order that would have a material adverse effect on the consummation of the Restructuring (taken as a whole); or 

(c) the board of directors (or the members of any other governing body performing a similar function) of any Debtor determines,
after consultation with its legal counsel, that proceeding with the transactions contemplated by this Agreement would be inconsistent with the continued exercise of their fiduciary duties (including by filing a motion or other document in the
Bankruptcy Court seeking approval of a Superior Proposal). 
 5.03. Required Consenting Senior Noteholder Termination Event. The
Required Consenting Noteholders may terminate the respective obligations and liabilities of the Consenting Senior Noteholders under this Agreement upon three (3) Business Days’ prior written notice (in accordance with Section 9.10
hereof) to the Plan Sponsor or Debtors, as applicable, of the occurrence of any of the following events (each, an “Required Consenting Noteholder Termination Event,” and, together with the Plan Sponsor Termination Events and
the Debtor Termination Events, collectively, the “Termination Events”): 
 (a) any of the events
listed in Section 3.02(b) hereof does not occur by the dates set forth therein; 
 (b) a Termination Date (as defined in
either the Interim Financing Order or the DIP Credit Agreement) occurs; 

  
 16 

 (c) the breach in any respect by the Plan Sponsor or any Debtor of (or failure to
satisfy) any of their respective obligations, representations, warranties, or covenants set forth in this Agreement (excluding those set forth in Section 3.02(b) hereof) and failure to cure such breach within five (5) Business Days of the
Plan Sponsor or the Debtors, as applicable, receiving written notice from counsel to the Required Consenting Senior Noteholders of such breach in accordance with Section 9.10 hereof; 

(d) the Debtors or the Plan Sponsors file any motion, pleading, any Definitive Document or related document with the Bankruptcy
Court in a manner that is inconsistent in any respect with this Agreement, the Restructuring Term Sheet, the Interim Financing Order, or the DIP Credit Agreement, and such motion, pleading, or related document has not been withdrawn after
three (3) Business Days of the Debtors or the Plan Sponsors receiving written notice in accordance with Section 9.10 hereof from counsel to the Required Consenting Senior Noteholders that such motion, pleading, or related document violates
this Section 5.03(d); 
 (e) the Bankruptcy Court enters an order approving debtor-in-possession financing or exit
financing that is materially inconsistent with the Restructuring Term Sheet and otherwise not agreed to by the Required Consenting Senior Noteholders (which consent shall not to be unreasonably withheld); 

(f) any of the Definitive Documents, the Interim Financing Order, the Final Financing Order or any other order entered by the
Bankruptcy Court related thereto shall have been modified, abrogated terminated, or otherwise is not in full force and effect, without the consent of the Required Consenting Senior Noteholders (which consent shall not to be unreasonably withheld);

 (g) the issuance by any governmental authority, including any regulatory authority or court of competent jurisdiction, of
any ruling or order enjoining the consummation of the Restructuring in a way that cannot be reasonably remedied by the Debtors in a manner that does not prevent or diminish in a material way compliance with the terms of this Agreement, the
Restructuring Term Sheet, the Interim Financing Order, or the DIP Credit Agreement; provided that the Debtors shall have ten (10) Business Days after receiving such ruling or order to cure any breach in a manner that does not prevent or
diminish in a material way compliance with the terms of this Agreement, the Restructuring Term Sheet, the Interim Financing Order, or the DIP Credit Agreement; 

(h) the Bankruptcy Court enters an order (A) directing the appointment of an examiner with expanded powers to operate the
Debtors’ businesses pursuant to section 1104 of the Bankruptcy Code or a trustee in any of the Chapter 11 Cases, (B) converting any of the Chapter 11 Cases to cases under chapter 7 of the Bankruptcy Code, or
(C) dismissing any of the Chapter 11 Cases; 
 (i) [reserved]; 

(j) the board of directors (or the members of any other governing body performing a similar function) of any Debtor determines,
after consultation with its legal 

  
 17 

 
counsel, that proceeding with the transactions contemplated by this Agreement would be inconsistent with the continued exercise of their fiduciary duties (including by filing a motion or other
document in the Bankruptcy Court seeking approval of a Superior Proposal); or 
 (k) the Company determines after reasonable
due diligence, investigation and analysis, that the aggregate prepetition general unsecured claims (other than prepetition general unsecured claims on account of or related to the First Lien Facility Claims, Second Lien Facility Claims, Senior Note
Claims, and/or Citrus Earn Out Claims) asserted against any Debtor are reasonably likely to exceed $35,000,000, which determination shall be made and distributed to counsel to the Plan Sponsor and the Consenting Senior Noteholders no later than 15
calendar days after the Petition Date. 
 5.04. Unclean Hands. Notwithstanding any provision in this Agreement to the contrary, no
Party shall be entitled to terminate this Agreement if such Party is in material breach of any provision hereof. 
 5.05. Mutual
Termination. This Agreement may be terminated by mutual, written agreement signed by each Debtor, the Plan Sponsor and the Required Consenting Senior Noteholders. 

5.06. Effect of Termination. Upon the termination of this Agreement under Section 5.01, 5.02 or 5.03 hereof, (a) except with
respect to the continuing obligations relating to the fees and expenses specified in Section 3.01 hereof, this Agreement shall be of no further force and effect and each Party shall be released from its commitments, undertakings, and agreements
under or related to this Agreement and shall have the rights and remedies that it would have had it not entered into this Agreement, and shall be entitled to take all actions, whether with respect to the Restructuring or otherwise, that it would
have been entitled to take had it not entered into this Agreement, and (b) any and all consents tendered by the Plan Sponsor or any Consenting Senior Noteholder prior to such termination shall be deemed, for all purposes, to be null and void
ab initio, shall not be considered or otherwise used in any manner by the Parties in connection with the Restructuring and this Agreement or otherwise, and such consents may be changed or resubmitted regardless of whether the applicable
voting deadline has passed (without the need to seek an order from the Bankruptcy Court or consent from the Debtors allowing such change or resubmission). Notwithstanding the foregoing, other than in the case of mutual termination under
Section 5.05 hereof, any claim for breach of this Agreement that accrued prior to the date of a Party’s termination or termination of this Agreement (as the case may be) and all other rights and remedies of the Parties hereto shall not be
prejudiced as a result of termination. 
 5.07. Termination Upon Consummation of the Restructuring. This Agreement shall terminate
automatically without any further required action or notice on, as applicable, the Plan Effective Date. 
 Section 6. Transfer of Debt Claims

 6.01. Each Consenting Debt Claims Holder shall not directly or indirectly (a) grant any proxies to any person, in connection with
its Debt Claims, to vote on the Restructuring, or (b)

  
 18 

 
Transfer any Debt Claims, except (i) to a transferee that is a Consenting Debt Claims Holder, (ii) an affiliate, subsidiary, related fund, or managed account of such Consenting Debt
Claims Holder (provided that such affiliate, subsidiary, related fund or managed account shall automatically be deemed party to this Agreement), or (iii) to such other person or entity that first agrees in writing by executing a Joinder to be
subject to the terms and conditions of this Agreement as a “Consenting Debt Claims Holder” and promptly delivering such Joinder to the Company at its address in set forth in Section 9.10 hereof. Each Consenting Debt
Claims Holder that Transfers a Debt Claim shall notify the Company and Stroock in writing of such Transfer (identifying the Transferee and the settlement date of such Transfer) within two Business Days after the settlement of such Transfer. Any
Transfer of any Debt Claim that does not comply with this Agreement shall be deemed void ab initio. Notwithstanding anything contained herein to the contrary, nothing in this Agreement shall prohibit or preclude any Consenting Debt Claims
Holder or an affiliate of a Consenting Debt Claims Holder from (A) acquiring additional Debt Claims; provided, however, that any such additional Debt Claims acquired by a Consenting Debt Claims Holder or an affiliate of a Consenting Debt Claims
Holder shall, upon acquisition, automatically be deemed to be subject to all the terms of this Agreement, or (B) granting any liens or encumbrances on any Debt Claims in favor of a bank or broker-dealer holding custody of such claims in the
ordinary course of business and which lien or encumbrance is released upon Transfer of such claims. 
 6.02. Notwithstanding anything herein
to the contrary, (i) any Consenting Debt Claims Holder may Transfer any of its Debt Claims to an entity that is acting in its capacity as a Qualified Marketmaker (as defined below) without the requirement that the Qualified Marketmaker be or
become a Party; provided, however, that the Qualified Marketmaker subsequently Transfers all right, title and interest in such Debt Claims to a Transferee that is or becomes a Party as provided above, and the Transfer documentation between the
transferring Party and such Qualified Marketmaker shall contain a requirement that provides as such (the transferring Party shall use commercially reasonable efforts to allow the Company to be an explicit third party beneficiary of such
requirement), and (ii) to the extent any Party is acting in its capacity as a Qualified Marketmaker, it may Transfer any Debt Claims that it acquires from a holder of such Debt Claims that is not a Party hereto without the requirement that the
Transferee be or become a Party. Notwithstanding the foregoing, if, at the time of the proposed Transfer of such Debt Claims to the Qualified Marketmaker, such Debt Claims (x) may be voted on the Agreed Restructuring Plan, the proposed
transferor Party must first vote such Debt Claims in accordance with and subject to the requirements of Section 3.01(b) hereof, or (y) have not yet been and may not yet be voted on the Agreed Restructuring Plan, and such Qualified
Marketmaker does not Transfer such Debt Claims to a subsequent Transferee prior to the fifth (5th) business day prior to the expiration of the voting deadline (such date, the “Qualified Marketmaker Joinder Date”), such
Qualified Marketmaker shall be required to (and the Transfer documentation to the Qualified Marketmaker shall have provided that it shall), on the first business day immediately following the Qualified Marketmaker Joinder Date, become a Party with
respect to such Debt Claims in accordance with the terms hereof (provided that the Qualified Marketmaker shall automatically, and without further notice or action, no longer be a Party with respect to such Debt Claims at such time that the
Transferee of such Debt Claims becomes a Party with respect to such Debt Claims). For these purposes, “Qualified Marketmaker” means an entity that (X) holds itself out to the market as standing ready in the ordinary course of business
to purchase from and sell to customers’ Debt Claims, or enter with 

  
 19 

 
customers into long and/or short positions in Debt Claims, in its capacity as a dealer or market maker in such Debt Claims; and (Y) is in fact regularly in the business of making a market in
claims, interests and/or securities of issuers or borrowers. 
 Section 7. Amendments. 

Except as otherwise provided herein, any modification, amendment, supplement or waiver of (a) this Agreement shall require the prior
written consent (which consent shall not be unreasonably withheld) of each of the Debtors, the Plan Sponsor and the Required Consenting Senior Noteholders, (b) the Interim Financing Order or the DIP Credit Agreement, including any annexes
thereto, shall require the prior written consent of the Debtors, the Plan Sponsor and, to the extent such modification, amendment, supplement or waiver adversely affects the rights, interests, protections or recoveries of the Senior Noteholders, in
their capacities as general unsecured creditors of the Debtors and the Debtors’ estates, whether under this Agreement, the Restructuring Term Sheet, the Agreed Restructuring Plan or otherwise, the Required Consenting Senior Noteholders,
(c) the Restructuring Term Sheet shall require the prior written consent of the Debtors and the Plan Sponsor, and, with respect to any modification, amendment, supplement or waiver that is adverse to the Consenting Senior Noteholders, the prior
written consent of the Required Consenting Senior Noteholders (which consent shall not be unreasonably withheld), provided that any modification or amendment that impacts or affects the nature, form, substance, amount or timing of the
treatment, distributions or recoveries to holders of claims in Class 2A and Class 2B or the rights and protections of minority holders as set forth in the Restructuring Term Sheet as of the date hereof, or that adversely impacts or affects the
equity value of the New Common Equity (as defined in the Restructuring Term Sheet), shall require the prior written consent of the Required Consenting Senior Noteholders in their sole discretion. 

Section 8. No Solicitation. 

Notwithstanding anything to the contrary, this Agreement is not and shall not be deemed to be (a) a solicitation of consents to the Agreed
Restructuring Plan, or any other chapter 11 plan, or (b) an offer for the issuance, purchase, sale, exchange, hypothecation, or other transfer of securities or a solicitation of an offer to purchase or otherwise acquire securities for
purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The acceptance of the Plan Sponsor and any Consenting Senior Noteholder of the Agreed Restructuring Plan, or any other chapter 11 plan,
shall not be solicited until the Plan Sponsor and any such Consenting Senior Noteholder, as applicable, have received the Disclosure Statement and related ballot and solicitation materials, each as approved by the Bankruptcy Court. 

Section 9. Miscellaneous. 
 9.01.
Good-Faith Cooperation; Further Assurances. The Parties shall cooperate with each other in good faith in respect of matters concerning the implementation and consummation of the Restructuring. Subject to the other terms of this Agreement, the
Parties agree to execute and deliver such other instruments and perform such acts, in addition to the matters herein specified, as may be reasonably appropriate or necessary, from time to time, to effectuate the Restructuring in a manner materially
consistent with the terms set forth in this Agreement, the Restructuring Term Sheet, the Interim Financing Order, and the DIP Credit Agreement, as applicable. 

9.02. Complete Agreement. This Agreement and the exhibits and annexes hereto represent the entire agreement between the Parties with
respect to the subject matter hereof and 

  
 20 

 
supersede all prior agreements, oral or written, between the Parties with respect thereto. No claim of waiver, modification, consent, or acquiescence with respect to any provision of this
Agreement shall be made against any Party, except on the basis of a written instrument executed by or on behalf of such Party. 
 9.03.
Parties; Assignment. This Agreement shall be binding upon, and inure to the benefit of, the Parties. Except as provided expressly herein or in a Joinder entered into in compliance with the terms hereof, no rights or obligations of any Party
under this Agreement may be assigned or transferred to any other person or entity, and any purported assignment in violation hereof shall be null and void ab initio. 

9.04. Headings. The headings of all Sections of this Agreement are inserted solely for the convenience of reference and are not a part
of and are not intended to govern, limit, or aid in the construction or interpretation of any term or provision hereof. 
 9.05.
Governing Law; Submission to Jurisdiction; Selection of Forum; Waiver of Trial by Jury. This Agreement shall be governed by and construed in accordance with the laws of the State of New York. Each Party agrees that it shall bring any action
or proceeding in respect of any claim arising out of or related to this Agreement, to the extent possible, in either the United States District Court for the District of New York, any New York State court, or, following the Petition Date, the
Bankruptcy Court (collectively, the “Chosen Courts”); provided that, following the Petition Date, the Bankruptcy Court shall be the sole Chosen Court. Solely in connection with claims arising under this Agreement,
each Party (a) irrevocably submits to the exclusive jurisdiction of the Chosen Courts, (b) waives any objection to laying venue in any such action or proceeding in the Chosen Courts, and (c) waives any objection that the Chosen Courts
are an inconvenient forum or do not have jurisdiction over any Party hereto. Each Party hereto irrevocably waives any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions
contemplated hereunder. 
 9.06. Execution of Agreement. This Agreement may be executed and delivered (by facsimile, electronic mail,
or otherwise) in any number of counterparts, each of which, when executed and delivered, shall be deemed an original, and all of which together shall constitute the same agreement. 

9.07. Interpretation. This Agreement is the product of negotiations between the Parties, and in the enforcement or interpretation
hereof, is to be interpreted in a neutral manner, and any presumption with regard to interpretation for or against any Party by reason of that Party having drafted or caused to be drafted this Agreement, or any portion hereof, shall not be effective
in regard to the interpretation hereof. 
 9.08. Successors and Assigns. Subject to Section Section 6 hereof, this Agreement is
intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators, and representatives, other than a trustee or similar representative appointed in a bankruptcy case. 

9.09. Acknowledgements. Notwithstanding anything herein to the contrary, this Agreement shall not be construed to limit the Debtors or
any member of the Debtors’ boards of 

  
 21 

 
director’s exercise (in their sole discretion) of its fiduciary duties to any person, including those arising from the Debtors’ status as a debtor or debtor in possession under the
Bankruptcy Code or under other applicable law, and any such exercise of such fiduciary duties shall not be deemed to constitute a breach of the terms of this Agreement. Nothing in this Agreement shall limit in any way the right of the Parties to
participate in the Chapter 11 Cases; provided that such participation does not violate and is not inconsistent with the terms of this Agreement, the Restructuring Term Sheet, the Interim Financing Order, and the DIP Credit Agreement, as
applicable. 
 9.10. Notices. All notices hereunder shall be deemed given if in writing and delivered, if sent in portable document
format (pdf) by electronic mail, or by courier, or by registered or certified mail (return receipt requested) to the following addresses (or at such other addresses as shall be specified by like notice): 

 

	 	(a)	if to the Debtors, to: 

 11 Greenway Plaza, Suite 3050 

Houston, Texas 77046 

Attention: James A. Watt 

E-mail:     jawatt@warrenresources.com 

with copies (which shall not constitute notice) to: 

Andrews Kurth LLP 
 600 Travis,
Suite 4200 
 Houston, Texas 77002 

Attention: Henry Havre 

                 Timothy A. Davidson II 

E-mail:     henryhavre@andrewskurth.com 

                 taddavidson@andrewskurth.com 

 

	 	(b)	if to the Plan Sponsor, to: 

 GSO / Blackstone Debt Funds Management LLC 

345 Park Avenue 
 31st Floor

 New York, New York 10154 

Attention: Brad Marshall 

                 Valerie Kritsberg 

E-mail:      brad.marshall@gsocap.com 

                  valerie.kritsberg@gsocap.com 

with copies (which shall not constitute notice) to: 

Franklin Square Capital Partners 

201 Rouse Boulevard 

Philadelphia, PA 19112 

Attention: Stephen S. Sypherd 

E-mail:     stephen.sypherd@franklinsquare.com 

  
 22 

 with copies (which shall not constitute notice) to: 

Kirkland & Ellis LLP 

300 North LaSalle Street 

Chicago, Illinois 60654 

Attention: Patrick J. Nash, Jr., P.C. 

                 Gregory F. Pesce 

E-mail:     patrick.nash@kirkland.com 

                 gregory.pesce@kirkland.com 

 

	 	(c)	if to the Required Consenting Senior Noteholders, to: 

 Stroock Stroock & Lavan LLP

 180 Maiden Lane 
 New York,
New York 10038 
 Attention: Jayme Goldstein 

                 Erez Gilad 

E-mail:     jgoldstein@stroock.com 

                 egilad@stroock.com 

Any notice given by hand delivery, electronic mail, mail, or courier shall be effective when received. 

9.11. Access. The Debtors shall afford the Plan Sponsor and the Consenting Supporting Noteholders and each of their respective
attorneys, consultants, accountants, and other authorized representatives reasonable access, upon reasonable notice during normal business hours, to all properties, books, contracts, commitments, records, management personnel, lenders, and advisors
of the Debtors. 
 9.12. Waiver. Except as expressly provided in this Agreement, nothing herein is intended to, or does, in any
manner waive, limit, impair, or restrict any right of the Parties or the ability of the Parties to protect and preserve its rights, remedies, and interests, including its claims against or interests in the Debtors, including under the First Lien
Facility, the Senior Note Indenture and applicable law. If the Restructuring is not consummated, or if this Agreement is terminated for any reason, the Parties fully reserve any and all of their rights. 

9.13. Several, Not Joint, Obligations. The agreements, representations, and obligations of the Parties under this Agreement are, in all
respects, several and not joint. It is understood and agreed that the Parties (as applicable) may trade in its First Lien Facility Claims, Senior Notes or other debt or equity securities of the Debtors, without the consent of the Debtors, subject to
applicable laws, if any, and the First Lien Facility, and subject to Section 6 hereof. 
 9.14. Remedies Cumulative. All rights,
powers, and remedies provided under this Agreement, or otherwise available in respect hereof at law or in equity, shall be cumulative and not alternative, and the exercise of any such right, power, or remedy by any Party shall not preclude the
simultaneous or later exercise of any other such right, power, or remedy by such Party. 

  
 23 

 9.15. No Third-Party Beneficiaries. Unless expressly stated herein, this Agreement shall
be solely for the benefit of the Parties, and no other person or entity shall be a third-party beneficiary hereof. 
 9.16. Automatic
Stay. The Parties acknowledge that the giving of notice or the termination by any Party pursuant to this Agreement shall not be a violation of the automatic stay under section 362 of the Bankruptcy Code. 

9.17. Survival of Agreement. The Parties acknowledge and agree that this Agreement is being executed in connection with negotiations
concerning a possible financial restructuring of the Debtors and in contemplation of possible chapter 11 filings by the Debtors, and (a) the rights granted in this Agreement are enforceable by each signatory hereto without approval of the
Bankruptcy Court, and (b) the Debtors waive any rights to assert that the exercise of such rights violate the automatic stay or any other provisions of the Bankruptcy Code. 

9.18. Settlement Discussions. This Agreement, the Restructuring Term Sheet, the Interim Financing Order, and the DIP Credit Agreement
and all related documents and agreements are part of a proposed settlement of matters that could otherwise be the subject of litigation among the Parties hereto. Nothing herein shall be deemed an admission of any kind. If this Agreement is
terminated, or if the transactions contemplated herein or in the Restructuring Term Sheet are not consummated, nothing contained herein or therein (including any terms, conditions, stipulations or assumptions reflected herein or therein) shall be
binding upon any Party, nor be construed as a waiver by any Party of any or all of such Party’s rights and remedies and the Parties expressly reserve any and all of such respective rights and remedies. Pursuant to rule 408 of the Federal
Rules of Evidence and any other applicable rules of evidence, this Agreement and all negotiations relating thereto shall not be admissible into evidence in any proceeding, other than a proceeding to enforce the terms hereof. 

9.19. Consideration. The Parties hereby acknowledge that no consideration, other than that specifically described in this Agreement,
the Restructuring Term Sheet, the Interim Financing Order, and the DIP Credit Agreement, shall be due or paid to any Party for its agreement to vote to accept the Agreed Restructuring Plan in accordance with the terms and conditions hereof. 

9.20. Disclosure. Prior to any disclosure, the Debtors shall submit to the Plan Sponsor (with a copy to Kirkland & Ellis LLP,
counsel for the Plan Sponsor) and the Initial Consenting Supporting Noteholders (with a copy to Stroock), all press releases, announcements, and public documents that constitute the initial disclosure of the existence or terms of this Agreement or
any amendment or modification to the terms hereof at least two (2) business days prior to such disclosure, and shall provide each such Party with a reasonable opportunity under the circumstances to comment on such documents and disclosures and
shall incorporate any such reasonable comments in good faith. No Party or its representatives shall use the name of the Plan Sponsor or the Initial Consenting Supporting Noteholders in any public manner or disclose

  
 24 

 
to any person or entity (including, for the avoidance of doubt, other Parties) other than to the Debtors and their advisors, the principal amount or percentage of any Debt Claims held by any
Party, in each case, without such Party’s prior written consent; provided, however, that (i) if such disclosure is required by law, subpoena, or other legal process or regulation, the disclosing Party shall afford the relevant Party a
reasonable opportunity to review and comment in advance of such disclosure and shall take all reasonable measures to limit such disclosure and (ii) the foregoing shall not prohibit the disclosure of the aggregate percentage or the aggregate
principal amount of Debt Claims held by any group or class of Parties, collectively. Notwithstanding the provisions in this Section 9.20, (x) any Party hereto may disclose the identities of the Parties hereto in any action to enforce this
Agreement or in any action for damages as a result of any breaches hereof, and (y) any party hereto may disclose, to the extent expressly consented to in writing by a Party, such Party’s identity and individual holdings. 

(Signatures on Following Pages) 

  
 25 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered by their
respective duly authorized officers or other agents, solely in their respective capacity as officers or other agents of the undersigned and not in any other capacity, as of the date first set forth above. 

 

			
	WARREN RESOURCES, INC.
		
	By:	 	/s/ James A. Watt
		 	  

	Name:	 	James A. Watt
	Title:	 	President, Chief Executive Officer and
		 	Chief Restructuring Officer
	
	WARREN E&P, INC.
		
	By:	 	/s/ James A. Watt
		 	  

	Name:	 	James A. Watt
	Title:	 	President
	
	WARREN RESOURCES OF CALIFORNIA, INC.
		
	By:	 	/s/ James A. Watt
		 	  

	Name:	 	James A. Watt
	Title:	 	President
	
	WARREN MANAGEMENT CORP.
		
	By:	 	/s/ James A. Watt
		 	  

	Name:	 	James A. Watt
	Title:	 	President
	
	WARREN ENERGY SERVICES, LLC
	
	By: WARREN E&P, INC., its sole manager
		
	By:	 	/s/ James A. Watt
		 	  

	Name:	 	James A. Watt
	Title:	 	President

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	WARREN MARCELLUS LLC
	
	By: WARREN RESOURCES, INC., its sole member
		
	By:	 	 /s/ James A. Watt

	Name:	 	James A. Watt
	Title:	 	 President, Chief Executive Officer and
 Chief
Restructuring Officer

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	FS INVESTMENT CORPORATION
	FS INVESTMENT CORPORATION II
	FS INVESTMENT CORPORATION III
		
	By:	 	GSO/Blackstone Debt Funds Management LLC
	Its:	 	Sub-Advisor
		
	By:	 	 /s/ Marisa Beeney

	Name:	 	Marisa Beeney
	Title:	 	Authorized Signatory
	
	FS ENERGY AND POWER FUND
		
	By:	 	GSO Capital Partners LP
	Its:	 	Sub-Advisor
		
	By:	 	 /s/ Marisa Beeney

	Name:	 	Marisa Beeney
	Title:	 	Authorized Signatory
	
	RACE STREET FUNDING LLC
		
	By:	 	FS Investment Corporation
	Its:	 	Sole Member
		
	By:	 	GSO/Blackstone Debt Funds Management LLC
	Its:	 	Sub-Advisor
		
	By:	 	 /s/ Marisa Beeney

	Name:	 	Marisa Beeney
	Title:	 	Authorized Signatory

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	COBBS CREEK LLC
	LEHIGH RIVER LLC
	JUNIATA RIVER LLC
	GREEN CREEK LLC
		
	By:	 	FS Investment Corporation II
	Its:	 	Sole Member
		
	By:	 	GSO/Blackstone Debt Funds Management LLC
	Its:	 	Sub-Advisor
		
	By:	 	 /s/ Marisa Beeney

	Name:	 	Marisa Beeney
	Title:	 	Authorized Signatory
	
	JEFFERSON SQUARE FUNDING LLC
		
	By:	 	FS Investment Corporation III
	Its:	 	Sole Member
		
	By:	 	GSO/Blackstone Debt Funds Management LLC
	Its:	 	Sub-Advisor
		
	By:	 	 /s/ Marisa Beeney

	Name:	 	Marisa Beeney
	Title:	 	Authorized Signatory

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	HOTCHKIS AND WILEY HIGH YIELD FUND
		
	By:	 	Hotchkis and Wiley Capital Management, LLC
	(H&W)	 	
	Its:	 	investment advisor
		
	By:	 	 /s/ Anna Marie Lopez

	Name:	 	Anna Marie Lopez
	Title:	 	Chief Operating Officer of H&W
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	SAN DIEGO COUNTY EMPLOYEES RETIREMENT ASSOCIATION
		
	By:	 	Hotchkis and Wiley Capital Management, LLC (H&W)
	Its:	 	investment advisor
		
	By:	 	 /s/ Anna Marie Lopez

	Name:	 	Anna Marie Lopez
	Title:	 	Chief Operating Officer of H&W
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	HOTCHKIS AND WILEY CAPITAL INCOME FUND
		
	By:	 	Hotchkis and Wiley Capital Management, LLC (H&W)
	Its:	 	investment advisor
		
	By:	 	 /s/ Anna Marie Lopez

	Name:	 	Anna Marie Lopez
	Title:	 	Chief Operating Officer of H&W
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	SANTA BARBARA COUNTY EMPLOYEES RETIREMENT SYSTEM
		
	By:	 	Hotchkis and Wiley Capital Management, LLC (H&W)
	Its:	 	investment advisor
		
	By:	 	 /s/ Anna Marie Lopez

	Name:	 	Anna Marie Lopez
	Title:	 	Chief Operating Officer of H&W
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NATIONAL ELEVATOR INDUSTRY PENSION PLAN
		
	By:	 	Hotchkis and Wiley Capital Management, LLC (H&W)
	Its:	 	investment advisor
		
	By:	 	 /s/ Anna Marie Lopez

	Name:	 	Anna Marie Lopez
	Title:	 	Chief Operating Officer of H&W
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	TEXAS COUNTY AND DISTRICT RETIREMENT SYSTEM
		
	By:	 	Hotchkis and Wiley Capital Management, LLC (H&W)
	Its:	 	investment advisor
		
	By:	 	 /s/ Anna Marie Lopez

	Name:	 	Anna Marie Lopez
	Title:	 	Chief Operating Officer of H&W
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	GOVERNMENT OF GUAM RETIREMENT FUND
		
	By:	 	Hotchkis and Wiley Capital Management, LLC (H&W)
	Its:	 	investment advisor
		
	By:	 	 /s/ Anna Marie Lopez

	Name:	 	Anna Marie Lopez
	Title:	 	Chief Operating Officer of H&W
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	UNIVERSITY OF DAYTON
		
	By:	 	Hotchkis and Wiley Capital Management, LLC (H&W)
	Its:	 	investment advisor
		
	By:	 	 /s/ Anna Marie Lopez

	Name:	 	Anna Marie Lopez
	Title:	 	Chief Operating Officer of H&W
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA US ATTRACTIVE YIELD CORPORATE BOND FUND MOTHER FUND
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	BARCLAYS MULTI-MANAGER FUND PLC
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	HIGH YIELD CORPORATE BOND OPEN MOTHER FUND
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	KAPITALFORENINGEN INDUSTRIENS PENSION PORTFOLIO, HIGH YIELD OBLIGATIONER III
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA FUNDS IRELAND PLC – US HIGH YIELD BOND FUND
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	L-3 COMMUNICATIONS CORPORATION MASTER TRUST
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	LOUISIANA STATE EMPLOYEES’ RETIREMENT SYSTEM
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	MONTGOMERY COUNTY EMPLOYEES’ RETIREMENT SYSTEM
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA CORPORATE RESEARCH AND ASSET MANAGEMENT INC.
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA FUNDS IRELAND PLC – GLOBAL HIGH YIELD BOND FUND
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS: 

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA HIGH YIELD FUND
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS: 

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA MULTI MANAGERS FUND – GLOBAL BOND
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA MULTI MANAGERS FUND – GLOBAL
	HIGH YIELD BOND
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT
	CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA MULTI MANAGERS FUND II – US HIGH
	YIELD BOND
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT
	CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	NOMURA US HIGH YIELD BOND INCOME
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	PHILADELPHIA INDEMNITY INSURANCE COMPANY
		
	By:	 	Nomura Corporate Research and Asset Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	PINNACOL ASSURANCE
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	STICHTING PENSIOENFONDS TNO
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	 AGGREGATE PRINCIPAL AMOUNT OF DEBT

CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	THE REGENTS OF THE UNIVERSITY OF
	CALIFORNIA
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT
	CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	KAPITALFORENINGEN UNIPENSION INVEST,
	HIGH YIELD OBLIGATIONER V
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT
	CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	SAFETY NATIONAL CASUALTY CORPORATION
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	 AGGREGATE PRINCIPAL AMOUNT OF DEBT

CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	STICHTING PENSIOENFONDS HOOGOVENS
		
	By:	 	Nomura Corporate Research and Asset
		 	Management Inc.
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Stephen Kotsen

	Name:	 	Stephen Kotsen
	Title:	 	Managing Director
	
	 AGGREGATE PRINCIPAL AMOUNT OF DEBT

CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	PCM FUND, INC.
		
	By:	 	Pacific Investment Management Company LLC,
		 	as its Investment Advisor
		
	By:	 	 /s/ T. Christian Stracke

	Name:	 	T. Christian Stracke
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	STATE TEACHERS RETIREMENT SYSTEM OF OHIO
		
	By:	 	Pacific Investment Management Company LLC,
		 	as its Investment Advisor
		
	By:	 	 /s/ T. Christian Stracke

	Name:	 	T. Christian Stracke
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	KAPITALFORENINGEN ATP INVEST, HOJRISIKO OBLIGATIONER
		
	By:	 	Pacific Investment Management Company LLC,
		 	as its Investment Advisor
		
	By:	 	 /s/ T. Christian Stracke

	Name:	 	T. Christian Stracke
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	PIMCO GLOBAL INCOME OPPORTUNITIES FUND
		
	By:	 	Pacific Investment Management Company LLC,
		 	as its Investment Advisor
		
	By:	 	 /s/ T. Christian Stracke

	Name:	 	T. Christian Stracke
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	PIMCO HIGH INCOME FUND
		
	By:	 	Pacific Investment Management Company LLC,
		 	as its Investment Advisor
		
	By:	 	 /s/ T. Christian Stracke

	Name:	 	T. Christian Stracke
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	PIMCO FUNDS: PIMCO HIGH YIELD SPECTRUM FUND
		
	By:	 	Pacific Investment Management Company LLC,
		 	as its Investment Advisor
		
	By:	 	 /s/ T. Christian Stracke

	Name:	 	T. Christian Stracke
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	STATE OF NEW JERSEY – COMMON PENSION FUND D
		
	By:	 	Pacific Investment Management Company LLC,
		 	as its Investment Advisor
		
	By:	 	 /s/ T. Christian Stracke

	Name:	 	T. Christian Stracke
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	UNIPENSION INVEST F.M.B.A., HIGH YIELD OBLIGATIONER III
		
	By:	 	Pacific Investment Management Company LLC,
		 	as its Investment Advisor
		
	By:	 	 /s/ T. Christian Stracke

	Name:	 	T. Christian Stracke
	Title:	 	Managing Director
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	PINE RIVER DEERWOOD FUND LTD.
		
	By:	 	Pine River Capital Management L.P.
	Its:	 	Investment Manager
		
	By:	 	 /s/ Nick Nusbaum

	Name:	 	Nick Nusbaum
	Title:	 	Chief Financial Officer
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	PINE RIVER FIXED INCOME MASTER FUND LTD.
		
	By:	 	Pine River Capital Management L.P.
	Its:	 	Investment Manager
		
	By:	 	 /s/ Nick Nusbaum

	Name:	 	Nick Nusbaum
	Title:	 	Chief Financial Officer
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

 [Signature Pages to Restructuring Support Agreement] 

 
			
	PINE RIVER MASTER FUND LTD.
		
	By:	 	Pine River Capital Management L.P.
	Its:	 	Investment Manager
		
	By:	 	 /s/ Nick Nusbaum

	Name:	 	Nick Nusbaum
	Title:	 	Chief Financial Officer
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	LMA SPC FOR AND ON BEHALF OF MAP 89 SEGREGATED PORTFOLIO
		
	By:	 	Pine River Capital Management L.P.
	Its:	 	Investment Manager
		
	By:	 	 /s/ Nick Nusbaum

	Name:	 	Nick Nusbaum
	Title:	 	Chief Financial Officer
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	REDWOOD MASTER FUND, LTD.
		
	By:	 	Redwood Capital Management, LLC,
		 	Its Investment Manager
		
	By:	 	 /s/ Ruben Kliksberg

	Name:	 	Ruben Kliksberg
	Title:	 	Authorized Signatory
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	WHITEBOX CREDIT PARTNERS, LP
		
	By:	 	 /s/ Mark Strefling

	Name:	 	Mark Strefling
	Title:	 	 General Counsel & Chief Operating Officer

Whitebox Advisors LLC

	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	WHITEBOX RELATIVE VALUE PARTNERS, LP
		
	By:	 	 /s/ Mark Strefling

	Name:	 	Mark Strefling
	Title:	 	 General Counsel & Chief Operating Officer

Whitebox Advisors LLC

	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 
			
	WHITEBOX MULTI-STRATEGY PARTNERS, LP
		
	By:	 	 /s/ Mark Strefling

	Name:	 	Mark Strefling
	Title:	 	General Counsel & Chief Operating Officer Whitebox Advisors LLC
	
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:

  
 [Signature Pages to
Restructuring Support Agreement] 

 Exhibit A 

Restructuring Term Sheet 

 EXHIBIT A 

RESTRUCTURING TERM SHEET 

JUNE 2, 2016 

Capitalized terms used but not defined in this Restructuring Term Sheet (this “Term Sheet”) have the respective
meanings assigned to such term in the Restructuring Support Agreement, dated as of June 2, 2016 (the “RSA”), to which this Restructuring Term Sheet is annexed as Exhibit A. 

 

			
	Overview
		
	 Debt to be

Restructured
	  	 Indebtedness that will be treated under the Agreed Restructuring Plan includes, among other things, the following:

 
 (a)    approximately $1.636
million in principal amount of 12% Convertible Secured Debentures (the “Secured Debentures”);
  

(b)    approximately $234.67 million of principal amounts outstanding under the First Lien
Facility (plus all accrued but unpaid interest and all other fees, expenses, and amounts due thereunder (including any Repayment Premium (as defined in the credit agreement for the First Lien Facility)), in each case, as of the Petition Date;

 
 (c)    approximately $51
million of principal amounts outstanding under the Second Lien Facility (plus all accrued but unpaid interest and all other fees, expenses, and amounts due thereunder (including any Repayment Premium (as defined in the credit agreement for the
Second Lien Facility)), in each case, as of the Petition Date;
  

(d)    approximately $167.27 million of principal amounts outstanding under the Senior Notes (plus
all accrued but unpaid interest, plus all fees, expenses and other amounts due thereunder or under the Senior Notes Indenture), in each case, as of the Petition Date;
  

(e)    all prepetition general unsecured trade claims related to the Debtors’ ordinary course
business operations (collectively, excluding the Citrus Earn Out Claim, if any, the “Unsecured Trade Claims”);
  

(f)     any earn out claim held by Citrus Appalachia, LLC (“Citrus”)
under the Purchase and Sale Agreement, dated as of July 6, 2014, between Warren, Citrus, TLK Energy LLC, an Oklahoma limited liability company, and Troy Energy Investments, LLC, an Oklahoma limited liability company, of not more than $8.5
million, solely to the extent such claim is allowed as a general unsecured claim by final non-appealable order (collectively, the “Citrus Earn Out Claim”); and

 
 (g)    all other non-priority
general unsecured claims, including miscellaneous litigation claims (collectively, excluding the Citrus Earn Out Claim, if any, the “Other Unsecured Claims”).

			
		
	 Deficiency Claims and

Senior Notes Claims
	  	 The First Lien Facility Claims, the Second Lien Claims, and the Senior Notes Claims shall be allowed as follows.

 
 •    First Lien
Secured Claims: The First Lien Facility Claims shall be allowed in an amount equal to $248,014,432.14, of which approximately $160 million to approximately $180 million shall be allowed as first-priority secured claims (the “First
Lien Secured Claims”).
  

•    First Lien Deficiency Claims: The general unsecured deficiency claims on account
of the First Lien Facility Claims (stipulated to be approximately $68 million to approximately $88 million shall be allowed as prepetition general unsecured claims for voting purposes only (the “First Lien Deficiency
Claims”).
  

•    Second Lien Deficiency: No secured Second Lien Facility Claim shall be allowed
under the Plan or otherwise. The Second Lien Facility Claims shall be allowed solely as general unsecured claims (the “Second Lien Deficiency Claims”). The Second Lien Deficiency Claims shall be allowed in the amount of
approximately $56.7 million.
  

•    Senior Notes Claims. The Senior Notes Claims shall be allowed against each of the
Debtors in the principal amount of approximately $167.27 million, plus all accrued but unpaid interest and all other fees, expenses, and amounts due thereunder or under the Senior Notes Indenture as of the Petition Date.

		
	 DIP Financing and Use

of Cash Collateral
	  	 On the Petition Date, the Debtors shall file a motion seeking entry of the Interim Financing Order and the Final Financing Order, as well as
approval of the DIP Facility on the terms set forth in the DIP Agreement attached as an exhibit to the RSA (it being understood that the DIP Facility shall be approved pursuant to the Final Financing Order.

 
 As of the Plan Effective Date, the outstanding principal amount of the DIP Facility shall
not total more than $20 million.

		
	New Common Equity	  	On the Plan Effective Date, all existing equity interests (including preferred and common stock, options, warrants or other loans or securities exercisable or convertible into equity interests) in the Parent Debtor shall be
cancelled, and the Parent Debtor, as reorganized under the Plan, shall issue new common equity interests (the “New Common Equity”) as set forth herein. The New Common Equity shall be subject to dilution only by the New
Warrants (if any) and the MIP (as defined below). The reorganized Parent Debtor will appoint a qualified third party transfer agent for the New Common Equity.
		
	General Equity Pool	  	Holders of the First Lien Deficiency Claims will forego any distribution on account of the First Lien Deficiency Claims. Holders of the Second Lien Deficiency Claims, the Senior Notes Claims, and at the Plan Sponsor’s sole
option, the Citrus Earn Out Claims, shall be entitled to share pro rata in 17.5 percent of the New Common Equity that shall be issued and outstanding on the Plan Effective Date (the “General Equity Pool”). For the
avoidance of doubt, the General Equity Pool shall be subject to dilution by the New Warrants (if any) and the MIP.

  
 2 

			
		
	New Warrants	  	 The Parent Debtor, as reorganized under the Plan, may, subject to the terms and conditions set forth below, issue to holders of claims in
Class 2B five-year warrants, exercisable into up to 5% of the New Common Equity (subject to dilution by the MIP) issued on the Plan Effective Date, at an exercise price per share that would imply a total equity value of the Reorganized Debtors that
provides recovery of 100% of principal, accrued interest, and Repayment Premium (as defined in the credit agreement for the First Lien Facility) and all other amounts on account of the prepetition First Lien Secured Claims (collectively, the
“New Warrants”).
  
 The New Warrants shall be entitled to
standard anti-dilution protections and shall not include a cashless exercise feature. Accordingly, the New Warrants shall require payment of the exercise price in cash upon settlement of exercise. The terms of the New Warrants will be set forth in
the Definitive Documents.

		
	 New First Lien
 Term Loan
Facility
	  	 On the Plan Effective Date, the Reorganized Debtors shall enter into a new term loan credit facility (the “New First Lien
Facility”) in the aggregate principal amount of not more than $130 million, plus, at the Plan Sponsor’s sole discretion, the then-outstanding principal amount of the DIP Facility (up to an amount of $20 million, to the extent the
Plan Sponsor determines, in its sole discretion, to exchange or roll into the New First Lien Facility on the Plan Effective Date). The New First Lien Facility shall be secured by a first-priority lien on substantially all of the Debtors’
assets.
  
 The New First Lien Facility shall mature on May 22, 2020, and shall accrue
interest at LIBOR + 900 bps, with 100 bps LIBOR floor, per annum, paid in cash, plus 100 bps, paid in kind (i.e., added to principal). The terms of the New First Lien Facility will be set forth in the Definitive Documents.

		
	Total Enterprise Value	  	The total enterprise value of the Reorganized Debtors is stipulated to be in the range of approximately $160 million to approximately $180 million.
		
	 Plan Effectiveness

Conditions
	  	 Except with the prior consent of the Debtors, the Plan Sponsor and the Required Consenting Senior Noteholders, the Plan Effective Date shall
not occur unless:
  

(a)    the Bankruptcy Court shall have entered the Confirmation Order;

 
 (b)    the Debtors notify the
Plan Sponsor and counsel to the Consenting Senior Noteholders that aggregate prepetition general unsecured claims claims (other than prepetition general unsecured claims on account of or related to the First Lien Facility Claims, Second Lien
Facility Claims, Senior Note Claims, and/or Citrus Earn Out Claims) asserted against any Debtor are not reasonably likely to exceed $35,000,000, which determination shall be made and distributed to counsel to the Plan Sponsor and counsel to the
Initial Consenting Senior Noteholders no later than 15 days after the Petition Date;
  

(c)    all actions, documents, certificates, and agreements necessary or appropriate to implement
the Plan, including the Definitive Documents (including, without limitation, the documents governing the New First Lien Facility, the New Warrants and the Shareholder Agreement (defined below)), shall have been effected or executed and delivered, as
the case may be, to the required parties and, to the extent required, filed with the applicable governmental units in

  
 3 

			
		
		  	          accordance with applicable laws, and all such
documents, certificates and agreements shall be reasonably acceptable to the Debtors, the Plan Sponsor and the Required Consenting Senior Noteholders;
  

(d)    all authorizations, consents, regulatory approvals, rulings, or documents that are
necessary or appropriate to implement and effectuate the Plan shall have been received; and
  

(e)    the Debtors shall have paid in full in cash all of the fees and expenses of each of the
indenture trustee for the Senior Notes (to the extent payable under the Senior Notes Indenture), the Plan Sponsor and the Consenting Senior Noteholders.

	
	Unclassified Claims
		
	DIP Facility Claims	  	 Treatment. On the Plan Effective Date, the Debtors shall, at the Plan Sponsor’s option: (a) repay the DIP Facility;
(b) refinance the DIP Facility; or (c) roll the DIP Facility into the New First Lien Facility.
  

Voting. Not classified; non-voting.

		
	 Administrative Claims
  

Priority Tax Claims
  

Other Priority Claims
  

Other Secured Claims
  

Secured Debentures
	  	 Treatment. Customary treatment provisions for each of these classes to render the claims unimpaired. The Agreed Restructuring Plan
shall provide that holders of the Secured Debentures shall receive payment in full in cash or such other treatment to render the holders of such claims unimpaired; provided that the Secured Debentures, to the extent reinstated, shall not be
convertible into the New Common Equity.
  
 Voting. Not classified or unimpaired,
as applicable; non-voting.

	
	Classified Claims and Interests
		
	 Class 1:
  

First Lien Secured Claims
	  	 Treatment. On the Plan Effective Date, except to the extent that a holder of an allowed First Lien Secured Claim agrees to a less
favorable treatment, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for each First Lien Secured Claim, each such holder shall receive its respective pro rata share of:

 
 •    the New First Lien
Facility; and
  

•    82.5% of the New Common Equity (subject to dilution by the MIP and the New
Warrants).
  
 Voting. Impaired; voting.

  
 4 

			
		
	 Class 2A:
  

•    First Lien Deficiency Claims

 
 •    Senior Notes
Claims
  

•    Citrus Earn Out Claim
	  	 Allowance. The First Lien Deficiency Claims, Senior Notes Claims, and Citrus Earn Out Claim shall be allowed in the manner set forth
in the section of this Term Sheet entitled “Debt to be Restructured.”
  

Treatment. On the Plan Effective Date, except to the extent that a holder of an allowed Senior Notes Claim (and allowed Citrus Earn Out Claim, which
allowed amount shall not exceed $8.5 million), agrees to a less favorable treatment, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for each such claim, (i) holders of allowed First Lien Deficiency
Claims will forego any distribution on account of such First Lien Deficiency Claims, and (ii) holders of allowed Senior Notes Claims (and any allowed Citrus Earn Out Claim, to the extent applicable) shall be entitled to receive such holders’
respective pro rata portion of the General Equity Pool. The pro rata calculation of the portion of the General Equity Pool shall be calculated by grouping the Second Lien Deficiency Claims together with the Class 2A claims.

 
 Voting: Impaired; voting.

		
	 Class 2B:
  

Second Lien Deficiency
 Claims
	  	 Allowance. The Second Lien Deficiency Claims shall be allowed in the manner set forth in the section of this Term Sheet entitled
“Debt to be Restructured.”
  
 Treatment. On the Plan Effective Date,
except to the extent that a holder of an allowed Second Lien Deficiency Claim agrees to a less favorable treatment, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for each such claim, holders of
allowed First Lien Deficiency Claims will forego any distribution on account of such First Lien Deficiency Claims, and holders of allowed Second Lien Deficiency Claims shall be entitled to receive each such holder’s respective pro rata portion
of (1) the General Equity Pool, and (2) the New Warrants; provided that if Class 2B does not satisfy the Required Creditor Conditions, no New Warrants shall be issued. The pro rata calculation of the portion of the General Equity Pool shall
be calculated by grouping the Second Lien Deficiency Claims together with the Class 2A claims.
  

“Required Creditor Conditions” means, collectively, that (i) no holder of Second Lien Claims (or any agent or representative of such
claims) takes any direct or indirect action (including requesting discovery), to object to, oppose or interfere with entry of the Interim Financing Order, the Final Financing Order, approval of the DIP Facility, entry of the order approving the
adequacy and solicitation of the Disclosure Statement, the Agreed Restructuring Plan, entry of an order confirming the Agreed Restructuring Plan or consummation of the Agreed Restructuring Plan; and (ii) holders of at least two-thirds in amount and
one-half in number of allowed Second Lien Claims vote to accept the Agreed Restructuring Plan.
  

Voting: Impaired; voting.

  
 5 

			
		
	 Class 2C:
  

Unsecured Trade
 Claims and Other

Unsecured Claims.
	  	 Treatment. Except to the extent that a holder of an allowed Unsecured Trade Claim or allowed Other Unsecured Claim agrees to a less
favorable treatment, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for each claim, each such holder, at the Plan Sponsor’s option, shall receive cash or an unsecured note issued pursuant to
the Agreed Restructuring Plan (in each case without interest), in each case, in an amount equal to the same economic recovery provided to holders of allowed Class 2A claims, on the Plan Effective Date or, if such claim is not allowed as of the Plan
Effective Date, as soon as practicable after such claim becomes allowed.
  

Voting: Impaired; voting.

		
	 Class 3:
  

Intercompany Claims
	  	 Treatment. Each allowed Intercompany Claim shall be, at the option of the Plan Sponsor, either reinstated or canceled and released
without any distribution on account of such claims.
  
 Voting. Impaired;
non-voting.

		
	 Class 4:
  

Intercompany Interests
	  	 Treatment. Each allowed Intercompany Interest shall be, at the option of the Plan Sponsor, either reinstated or canceled and released
without any distribution on account of such interests.
  
 Voting. Impaired;
non-voting.

		
	 Class 5:
  

Section 510(b) Claims
	  	 Treatment. Claims arising under section 510(b) of the Bankruptcy Code, if any, shall be cancelled without any distribution, and such
holders of such claims will receive no recovery under the Plan.
  
 Voting.
Impaired; non-voting.

		
	 Class 6:
  

Existing Equity
 Interests in the Parent

Debtor
	  	 Treatment. On the Plan Effective Date, all existing equity interests (including preferred and common stock, options, warrants, or
other securities exercisable or convertible into equity interests) in the Parent Debtor shall be cancelled and shall be deemed canceled and extinguished, and shall be of no further force and effect, whether surrendered for cancelation or otherwise,
and there shall be no distribution to holders of existing equity interests in the Parent Debtor on account of any such existing equity interests.
  

Voting. Impaired; non-voting.

	
	Other General Provisions
		
	 Management Equity
 Incentive
Plan
	  	Promptly after the Plan Effective Date, the reorganized Parent Debtor’s equity compensation plan or plans (such plan or plans being referred to herein as the “MIP”) will be approved by the new board of
directors or managers, as applicable, of the reorganized Parent Debtor (the “New Board”) and will provide for equity-based compensation to management (including directors and officers) and employees, comprising an aggregate
of up to 6% of the New Common Equity, with equity interests comprising 2 percentage points (or one-third) of such 6% of the New Common Equity being issued under the MIP promptly on the Plan Effective Date, and the remaining equity interests being
issued over a three-year period following the Plan Effective Date.

  
 6 

			
		
		  	 Individual allocations of equity incentive awards under the MIP shall be proposed by the Chief Executive Officer of the reorganized Parent
Debtor (the “CEO”), and shall be subject to approval by the compensation committee of the New Board (the “Compensation Committee”). All grants under the MIP shall consist solely of restricted shares,
and such restricted shares shall be subject to 50% time-based and 50% performance-based vesting; provided that any amount of such restricted shares granted to the CEO after the initial grant on the Plan Effective Date may be subject to
performance-based vesting, as determined by the Compensation Committee. All performance criteria applicable to vesting of restricted share grants shall be established by the Compensation Committee after review of the CEO’s proposed targets.

 
 Equity interests granted under the MIP shall dilute the New Common Equity and the New
Warrants issued on the Plan Effective Date on a pro rata basis.

		
	 Employment

Agreements, Other
 Compensation, &

Benefit Plans
	  	The Definitive Documents shall include details regarding key executive employment agreements and enterprise-wide benefits plans to the extent different from existing compensation and benefit plans.
		
	 New Board;

Reorganized Debtors’
 Key
Management
	  	The Definitive Documents shall identify the chief officers of the Reorganized Debtors and the members of the New Board. The CEO shall serve as the Chairman of the New Board.
		
	 Cancellation of

Instruments,
 Certificates, and

Other Documents
	  	On the Plan Effective Date, except to the extent otherwise provided herein, all instruments, certificates, and other documents evidencing debt or equity interests in the Debtors shall be cancelled, and the obligations of the Debtors
thereunder, or in any way related thereto, shall be discharged.
		
	 Issuance of New
 Common
Equity
	  	The issuance of the New Common Equity under the Agreed Restructuring Plan will be exempt from registration with the U.S. Securities and Exchange Commission (the “SEC”) under section 1145 of the Bankruptcy
Code. The New Common Equity shall be deemed fully paid and non-assessable, and shall not be subject to any transfer restrictions under securities laws (except to the extent held by affiliates).
		
	SEC Reporting Status	  	The Plan Sponsor, in consultation with the Debtors or the Reorganized Debtors (as applicable) and the Required Consenting Senior Noteholders, will determine whether, on and after the Plan Effective Date, the reorganized Parent
Debtor will continue to file reports with the SEC and, if the Plan Sponsor elects to so continue, whether the New Common Equity may be eligible for listing on a U.S. national securities exchange (i.e., Nasdaq or NYSE). In the event that the
Plan Sponsor reasonably determines prior to the Plan Effective Date, in good faith, after consultation with the Debtors and the Required Consenting Senior Noteholders, that the New Common Equity is unlikely to be eligible to be listed on a U.S.
national securities exchange, then the Debtors or the Reorganized Debtors (as applicable) will use reasonable best efforts to cause the New Common Equity to be eligible for trading and quoting on the highest-available “tier” or
“level” of an established OTC marketplace reasonably acceptable to the Required Consenting Senior Noteholders and the Reorganized Debtors within a reasonable period of time after the Plan Effective Date; provided that the foregoing
shall not under any circumstances require the Debtors to file any reports, or register as a public company, with the SEC. The Reorganized

  
 7 

			
		
		  	Debtors will use commercially reasonable effort to arrange for one or more nationally known registered broker-dealer firms to act as market makers with respect to the New Common Equity; provided that the foregoing shall not
under any circumstances require the Debtors to file any reports, or register as a public company, with the SEC. The Consenting Senior Noteholders acknowledge that the Reorganized Debtors do not intend to incur any material cost or materially
increased disclosure obligation in connection therewith associated with any reporting or disclosure obligations greater than those set forth below.
		
	 D&O Indemnification
 and
Insurance
	  	All existing directors and officers insurance coverage and indemnification obligations shall survive the Restructuring and continue in effect during and after the Restructuring process, and shall not be cancelled, terminated or
amended in any manner than would decrease or eliminate the benefit provided thereby to any officer, manager, or director.
		
	 Corporate
 Headquarters and

Governance
	  	 On or before or within a reasonable period of time after the Plan Effective Date, the CEO shall select the location of the principal
executive office of the reorganized Parent Debtor, but only after consultation with the Plan Sponsor regarding such selection.
  

The reorganized Parent Debtor shall either be a corporation or treated as a corporation for tax purposes.

 
 The Debtors’ existing organizational documents shall be amended and restated for the
Reorganized Debtors in a manner consistent with section 1123(a)(6) of the Bankruptcy Code and acceptable to the Plan Sponsor, the Debtors, and the Required Consenting Senior Noteholders.

 
 Upon and following the Plan Effective Date, the New Board will consist of five (5)
members, initially comprised of (a) the CEO (who shall serve as Chairman of the New Board), (b) three (3) members who are either selected by, or acceptable to, the Plan Sponsor, and (c) one member selected by the Required Consenting Senior
Noteholders and reasonably acceptable to the Plan Sponsor and the Debtors (the “Noteholder Director”). Each person selected or appointed to be a member of the New Board (as described in the preceding clauses (b) and (c))
shall make himself or herself available to meet, either in person or via teleconference, with the CEO regarding serving as a member of the New Board, and the Plan Sponsor (in the case of directors mentioned in clause (b) above) or the Required
Consenting Senior Noteholders (in the case of the Noteholder Director) shall have consulted with the CEO regarding the person being selected or appointed to serve as a member of the New Board and duly considered the opinion expressed by the CEO as
to the suitability of such person as a member of the New Board.
  
 Furthermore, in so
selecting persons to serve as members of the New Board, each of the Plan Sponsor on the one hand and the Required Consenting Senior Noteholders on the other hand, shall take into consideration and consider as a positive attribute, any reasonable
levels of experience in the oil and gas exploration and production industry possessed by such persons, with the understanding that the best interests of the Reorganized Debtors would be served by having a majority of the members of the New Board
comprised by individuals who do possess such experience.
  
 Meetings of the New Board may
be called by any member of the New Board.

  
 8 

			
		  	 The Shareholder Agreement (as defined below) will contain a voting agreement obligating the Plan Sponsor to vote its New Common Equity for
the election of the Noteholder Director. To the extent the Plan Sponsor sells or transfers any New Common Equity, the transferee(s) will be required to agree to comply with the voting agreement. The Shareholder Agreement shall further provide that
the right of the Required Consenting Senior Noteholders to designate one director of the New Board shall continue for so long as the entities that comprise the Consenting Senior Noteholders (together with their affiliates, subsidiaries and related
funds or accounts) collectively hold at least 75% percent of the New Common Equity held by the Consenting Senior Noteholders as of the Plan Effective Date in the aggregate.
  

On the Plan Effective Date, the Plan Sponsor, the Consenting Senior Noteholders, and the Reorganized Debtors shall enter into a shareholder agreement, in form
and substance reasonably acceptable to the Debtors, the Plan Sponsor, and the Required Consenting Senior Noteholders (the “Shareholder Agreement”).
  

The Shareholder Agreement shall provide, among other things, as follows:
  

(a)    Until the earliest to occur of (X) a sale of all or substantially all of the assets of
the Company and its subsidiaries, (Y) an IPO, and (Z) the reorganized Parent Debtor otherwise commencing to file periodic reports with the SEC, each Significant Interest Holder will be entitled to receive or participate in (as
applicable):
  

i.       quarterly unaudited financial statements, as well as management discussion
and analysis materials regarding the financial condition and results of operations with respect to such financial statements, which management’s discussion and analysis materials shall be in a manner substantially consistent in all material
respects with the management’s discussion and analysis materials prepared by other similarly situated companies listed or quoted on the same tier or level of an established OTC marketplace on which the reorganized Parent Debtor is listed or
quoted (“Acceptable MD&A”), within 45 days after the end of each of the Reorganized Debtors’ first three fiscal quarters during each fiscal year or, if later, such time as delivered to the lenders under the New First Lien
Facility (or any other senior credit facility of the Reorganized Debtors), but in no event later than 60 days after the end of each of the Reorganized Debtors’ first three fiscal quarters during each fiscal year;

 
 ii.      audited
annual financial statements and Acceptable MD&A within 90 days after the end of the Reorganized Debtors’ fiscal year or, if later, such time as delivered to the lenders under the New First Lien Facility (or any other senior credit facility
of the Reorganized Debtors), but in no event later than 120 days after the end of the Reorganized Debtors’ fiscal year;
  

iii.    any information otherwise that is consistent with the information required to be timely
disclosed in a Form 8K filed with the SEC by other similarly situated OTC-registered entities that are not registered with the SEC;

  
 9 

			
		  	 iv.     an informational telephonic conference call each fiscal quarter
(at which conference call the Reorganized Debtors’ officers shall present a narrative overview of, and provide a brief commentary on, the information described in clauses (i), (ii), and (iii) above, and holders (including prospective holders
and analysts) shall be permitted to ask questions (and receive answers) relating to the reorganized Parent Debtor’s and its subsidiaries’ businesses, operations, assets, liabilities, finances and prospects); and

 
 all of the information required under this clause (a) shall be posted
on a publicly-available website (without the need to enter any password or make any certification) maintained by the Reorganized Debtors, and the Consenting Senior Noteholders acknowledge and agree that the posting of such information in the
foregoing manner shall satisfy in all respects the reporting obligations set forth above. Prior to the Plan Effective Date, the Plan Sponsor and counsel to the Required Consenting Noteholders will consult regarding the form of the Acceptable
MD&A.
  

(b)    Tag-Along Rights: Prior to the earlier to occur of (i) a sale of all or
substantially all of the assets of the reorganized Parent Debtor’s and its subsidiaries, or (ii) an initial public offering (“IPO”), and for so long as the New Common Equity is not listed on a U.S. national securities
exchange, in connection with any transfer (or a series of related transfers) by one or more holders (“Selling Interest Holders”) of more than 20% of the outstanding New Common Equity of the Reorganized Debtors to a purchaser
(a “Tag-Along Sale”), each Significant Interest Holder that is party to the Shareholder Agreement (collectively, the “Tag-Along Interest Holders”) shall have the option to include in such Tag-Along
Sale a corresponding percentage of the New Common Equity owned by such Tag-Along Interest Holder. Tag-Along Interest Holders shall receive the same form and amount of consideration per share of New Common Equity that is being paid to the Selling
Interest Holders in connection with the Tag-Along Sale. The terms and conditions applicable to the Tag-Along Interest Holder in connection with the Tag-Along Sale shall not be less favorable than those terms and conditions applicable to the Selling
Interest Holders (provided that in no event will the Tag-Along Interest Holders be required to provide an indemnity that exceeds their net proceeds from the sale of their New Common Equity or to agree to any non-compete covenant).

 
 (c)    Drag Rights:
After the Plan Effective Date, and prior to the earlier to occur of (i) a sale of all or substantially all of the assets of the reorganized Parent Debtor and its subsidiaries, and (ii) an IPO, holders of the New Common Equity that own more than 50%
of the then outstanding New Common Equity (the “Drag-Along Seller”) may elect to require the reorganized Parent Debtor to commence a process for, and require the reorganized Parent Debtor and the Significant Interest Holders
to cooperate with and consummate, a sale of the reorganized Parent Debtor or all or substantially all of the assets of the reorganized Parent Debtor and its Subsidiaries (a “Drag-Along Sale”). Each Significant Interest Holder
will consent

  
 10 

			
		  	 to, vote in favor of, raise no objection to and waive any appraisal rights in connection with such Drag-Along Sale. If
a Drag-Along Sale involves a sale or exchange of the New Common Equity (including pursuant to a merger), then each Significant Interest Holder will transfer its New Common Equity on the same terms and conditions applicable to the Drag-Along Seller.
In connection with a Drag-Along Sale involving a sale of all or substantially all of the assets of the reorganized Parent Debtor and its Subsidiaries, the reorganized Parent Debtor and its Subsidiaries will enter into such agreements and
arrangements with the purchaser of such assets in a form and on terms and conditions acceptable to the Drag-Along Seller consistent with the foregoing (provided that in no event will the dragged Significant Interest Holders be required to
provide an indemnity that exceeds their net proceeds from the sale of their New Common Equity or to agree to any non-compete covenant).
  

(d)    Pre-Emptive Rights: If, after the Plan Effective Date, and prior to the earlier to
occur of (i) a sale of all or substantially all of the assets of the Reorganized Debtors and their subsidiaries, and (ii) an IPO, any Reorganized Debtor issues (other than pursuant to a management incentive plan and/or the exercise of the New
Warrants (if issued)) shares of New Common Equity or other equity securities (or any options, warrants or other securities (including debt, whether in the form of loans, notes or securities) that are convertible into, or exchangeable or exercisable
for, New Common Equity or other equity securities), then each Significant Interest Holder that is party to the Shareholder Agreement1 shall be entitled to participate in such issuance on a pro
rata basis at the same purchase price and subject to the same terms.
  

(e)    Registration Rights: The Plan Sponsors will be entitled to unlimited demand
registration rights. Each Significant Interest Holder will have the right to participate on a pro rata basis in any registered public offering initiated by the Reorganized Debtors (or by parties exercising demand registration rights, including the
Plan Sponsors), subject to underwriter cutbacks, lockups and other customary exceptions or limitations to be agreed upon by the Required Consenting Senior Noteholders.
  

(f)     No Transfer Restrictions: The New Common Equity shall not be subject to any
transfer restrictions under the Shareholder Agreement or the reorganized Parent Debtor’s organizational documents, other than customary requirements, such as (i) transfers must be in compliance with securities laws, (ii) transfers must not
result in the reorganized Parent Debtor or any holder becoming subject to regulation under the Investment Company Act or the Investment Advisors Act and (iii) all permitted transferees hereunder must deliver a joinder to the Shareholder
Agreement. For the avoidance of any doubt, the rights of any Significant Interest Holder under the Shareholder Agreement are not transferrable to any entity other than an affiliate of such Significant Interest Holder or an account or fund managed,
advised, or sub-advised by such Significant Interest Holder.

  

	1 	The term “Significant Interest Holder” shall refer to, at the time of determination, each of the Consenting Senior Noteholders (including their respective affiliates, subsidiaries and related
funds or accounts) so long as such holder holds at least 75% of the New Common Equity held by such holder as of the Plan Effective Date. 

  
 11 

			
		
		  	 (g)    Affiliate Transactions: The Reorganized Debtors may enter into
transactions with affiliates of the Plan Sponsor or related party transactions that are on arms-length terms; provided that for any transactions involving $15,000,000 or more, a majority of the disinterested directors on the New Board shall have
determined that such transactions are on arm’s length terms.
  

(h)    Amendments to Shareholder Agreement: Any material amendments to the Shareholder
Agreement or the organizational documents of the reorganized Parent Debtor or its subsidiaries will require (i) majority approval of the New Board of the reorganized Parent Debtor, and (ii) holders of a majority of the then-issued and
outstanding New Common Equity; provided that any amendments that materially and disproportionately adversely affect the obligations or rights of any holder of New Common Equity relative to other holders of New Common Equity will require the
consent of holders representing a majority of the New Common Equity so adversely affected; provided, further, that any amendment that amends or adversely affects the specific rights described in this section entitled “Corporate
Headquarters and Governance” will require the consent of holders representing a majority of the New Common Equity held by the Significant Interest Holders in the aggregate as of such date.

 
 The terms and conditions of the Shareholder Agreement shall be consistent with this Term
Sheet and shall contain such other terms and conditions that are reasonably acceptable to the Required Consenting Senior Noteholders and the Plan Sponsor. It is agreed that any of the terms described above need not be included in the Shareholder
Agreement to the extent such terms are included in the reorganized Parent Debtor’s organizational documents.

		
	Representative	  	The Reorganized Debtors reserve the right to require any holders (other than the Plan Sponsor and the Significant Interest Holders), at their sole cost and expense, to designate a representative or engage a third party to act on
behalf of such other holders in connection with the administration of their respective rights under the Shareholder Agreement.
		
	 Avoidance Actions,
 Commercial
Tort
 Claims
	  	Avoidance actions arising under Chapter 5 of the Bankruptcy Code and commercial tort claims against any and all vendors with which the Restructured Debtors will have an ongoing relationship shall vest in the applicable
Restructured Debtor.
		
	Tax Issues	  	Subject to the terms hereof, the Restructuring shall be structured to preserve favorable tax attributes to the extent practicable (including structuring the Restructuring for tax purposes as an asset sale, a recapitalization, or
other tax-free reorganization), which structure shall be acceptable to the Plan Sponsor and the Debtors, and reasonably acceptable to the Required Consenting Senior Noteholders.
		
	Fees and Expenses	  	The Agreed Restructuring Plan will provide for payment of all accrued and unpaid professional fees and expenses for the legal and financial advisors of the following entities in cash on or prior to the Plan Effective Date: (a)
the Plan Sponsor; (b) the Debtors; and (c) Stroock & Stroock & Lavan LLP, as counsel, and Haynes and Boone, LLP, as local counsel, to the Initial Consenting Senior Noteholders.

  
 12 

			
	 Executory Contracts
 and Unexpired
Leases
	  	The treatment (e.g., assumption, assumption and assignment, and/or rejection) of all executory contracts and unexpired leases (including, for the avoidance of doubt, midstream agreements) to which the Debtors are party
shall be acceptable to the Plan Sponsor and the Debtors.
	
	Releases, Discharge, Exculpation, and Injunction Provisions
		
	 Discharge of Claims and
 Termination
of Interests
	  	Pursuant to section 1141(d) of the Bankruptcy Code, and except as otherwise specifically provided in the Agreed Restructuring Plan or in any contract, instrument, or other agreement or document created pursuant to the Agreed
Restructuring Plan, the distributions, rights, and treatment that are provided in the Agreed Restructuring Plan shall be in complete satisfaction, discharge, and release, effective as of the Plan Effective Date, of claims (including any intercompany
claims resolved or compromised after the Plan Effective Date by the Reorganized Debtors), interests, and causes of action of any nature whatsoever, including any interest accrued on claims or interests from and after the Petition Date, whether known
or unknown, against, liabilities of, liens on, obligations of, rights against, and interests in, the Debtors or any of their assets or properties, regardless of whether any property shall have been distributed or retained pursuant to the Agreed
Restructuring Plan on account of such claims and interests, including demands, liabilities, and causes of action that arose before the Plan Effective Date, any liability (including withdrawal liability) to the extent such claims or interests relate
to services performed by employees of the Debtors before the Plan Effective Date and that arise from a termination of employment, any contingent or noncontingent liability on account of representations or warranties issued on or before the Plan
Effective Date, and all debts of the kind specified in sections 502(g), 502(h), or 502(i) of the Bankruptcy Code, in each case whether or not: (a) a proof of claim based upon such debt or right is filed or deemed filed pursuant to section 501 of the
Bankruptcy Code; (b) a claim or interest based upon such debt, right, or interest is allowed pursuant to section 502 of the Bankruptcy Code; or (c) the holder of such a claim or interest has accepted the Agreed Restructuring Plan. Any default or
“event of default” by the Debtors or affiliates with respect to any claim or interest that existed immediately before or on account of the filing of the Chapter 11 Cases shall be deemed cured (and no longer continuing) as of the Plan
Effective Date. The Confirmation Order shall be a judicial determination of the discharge of all claims and interests subject to the Plan Effective Date occurring.
		
	Release of Liens	  	Except as otherwise specifically provided in the Agreed Restructuring Plan, the documents evidencing the New First Lien Facility or in any contract, instrument, release, or other agreement or document created pursuant to the
Agreed Restructuring Plan, on the Plan Effective Date and concurrently with the applicable distributions made pursuant to the Agreed Restructuring Plan and, in the case of a secured claim, satisfaction in full of the portion of the secured claim
that is allowed as of the Plan Effective Date, all mortgages, deeds of trust, liens, pledges, or other security interests against any property of the estates shall be fully released and discharged, and all of the right, title, and interest of any
holder of such mortgages, deeds of trust, liens, pledges, or other security interests shall revert to the Reorganized Debtors and their successors and assigns, in each case, without any further approval or order
of

  
 13 

			
		  	the Bankruptcy Court and without any action or filing being required to be made by the Debtors. In addition, the First Lien Facility Agent and the Second Lien Facility Agent shall execute and deliver all documents reasonably
requested by the Debtors, Reorganized Debtors, or administrative agent(s) for the New First Lien Facility to evidence the release of such mortgages, deeds of trust, liens, pledges, and other security interests and shall authorize the Reorganized
Debtors to file UCC-3 termination statements (to the extent applicable) with respect thereto.
		
	Release by the Debtors	  	Pursuant to section 1123(b) of the Bankruptcy Code, and except as otherwise specifically provided in the Agreed Restructuring Plan, on and after the Plan Effective Date, each Released Party (as defined below) is deemed expressly,
unconditionally, generally, and individually and collectively, acquitted, released, and discharged by the Debtors, the Reorganized Debtors, and the Estates, each on behalf of itself and its predecessors, successors and assigns, subsidiaries,
affiliates, current and former officers, directors, principals, shareholders, members, partners, advisers, sub-advisers, employees, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants,
representatives, management companies, fund advisors and other professionals, from any and all claims and causes of action, any claims asserted or assertable on behalf of any holder of any claim against or interest in the Debtors and any claims
asserted or assertable on behalf of any other entity, whether known or unknown, foreseen or unforeseen, matured or unmatured, existing or hereinafter arising, in law, equity, contract, tort or otherwise, by statute or otherwise, that such releasing
party (whether individually or collectively), ever had, now has or hereafter can, shall or may have, based on or relating to, or in any manner arising from, in whole or in part, the Debtors, the Debtors’ restructuring efforts, the Debtors’
intercompany transactions (including dividends paid), any preference or avoidance claim pursuant to sections 544, 547, 548, and 549 of the Bankruptcy Code, the purchase, sale, or rescission of the purchase or sale of, or any other transaction
relating to any security of the Debtors, the subject matter of, or the transactions or events giving rise to, any claim or interest that is affected by or classified in the Agreed Restructuring Plan, the business or contractual arrangements between
the Debtors, on the one hand, and the consenting creditors, on the other hand, the restructuring of claims and interests before or during the restructuring transactions implemented by the Agreed Restructuring Plan or any other transaction or other
arrangement with the Debtors whether before or during such restructuring transactions, the negotiation, formulation or preparation of such restructuring transactions, the RSA, the Agreed Restructuring Plan, the Plan Supplement, the Disclosure
Statement, or any related agreements, any asset purchase agreement, instruments or other documents (including, for the avoidance of doubt, providing any legal opinion requested by any entity regarding any transaction, contract, instrument, document,
or other agreement contemplated by the Agreed Restructuring Plan or the reliance by any Released Party on the Agreed Restructuring Plan or the Confirmation Order in lieu of such legal opinion) created or entered into in connection with the RSA, the
Disclosure Statement, the Agreed Restructuring Plan, the Chapter 11 Cases, the Filing of the Chapter 11 Cases, the pursuit of Confirmation, the pursuit of consummation, the administration and implementation of the Agreed Restructuring Plan,
including the issuance or distribution of securities pursuant to the Agreed Restructuring Plan, or the distribution of property under the Agreed Restructuring Plan or any other related agreement, or upon any other act or omission, transaction,
agreement, event, or other occurrence taking place or arising on or before the Plan Effective Date related or relating to any of the foregoing.

  
 14 

			
		  	“Released Party” means each of the following in their capacity as such: (a) holders of First Lien Facility Claims; (b) the First Lien Facility Agent; (c) solely to the extent that the Required Creditor
Conditions are satisfied, holders of Second Lien Deficiency Claims and the Second Lien Facility Agent; (d) the Consenting Senior Noteholders, holders of Senior Notes Claims and the indenture trustee under the Senior Notes; (e) the trustee, and
holders of claims arising, under the Secured Debentures; (f) with respect to each of the Debtors, the Reorganized Debtors, and each of the foregoing entities in clauses (a) through (e), each such entity’s current and former predecessors,
successors, affiliates (regardless of whether such interests are held directly or indirectly), subsidiaries, funds, portfolio companies, management companies; (g) with respect to the Debtors and the Reorganized Debtors and each of the foregoing
entities in clauses (a) through (e), each of their respective current and former directors, officers, members, employees, partners, advisers, sub-advisers, managers, independent contractors, agents, representatives, principals, professionals,
consultants, financial advisors, attorneys, accountants, investment bankers, and other professional advisors (with respect to clause (g), each solely in their capacity as such); provided that any holder of a claim or interest that opts out of the
releases contained in the Agreed Restructuring Plan shall not be a “Released Party.”
		
	 Release by Holders of
 Claims and
Interests
	  	Except as otherwise provided in the Agreed Restructuring Plan, as of the Plan Effective Date and to the fullest extent permissible under applicable law, each Releasing Party (as defined below) expressly, unconditionally,
generally, and individually and collectively releases, acquits, and discharges the Debtors, Reorganized Debtors, and Released Parties from any and all claims, obligations, rights, suits, damages, causes of action, remedies and liabilities
whatsoever, including any derivative claims asserted or assertable on behalf of the Debtors, any claims asserted or assertable on behalf of any holder of any claim against or interest in the Debtors and any claims asserted or assertable on behalf of
any other entity, whether known or unknown, foreseen or unforeseen, matured or unmatured, existing or hereinafter arising, in law, equity, contract, tort or otherwise, by statute or otherwise, that such Releasing Party (whether individually or
collectively), ever had, now has or hereafter can, shall or may have, based on or relating to, or in any manner arising from, in whole or in part, the Debtors, the Debtors’ restructuring efforts, the Debtors’ intercompany transactions
(including dividends paid), any preference or avoidance claim pursuant to sections 544, 547, 548, and 549 of the Bankruptcy Code, the purchase, sale, or rescission of the purchase or sale of any security of the Debtors, or any other transaction
relating to any security of the Debtors, or any other transaction or other arrangement with the Debtors whether before or during the restructuring transactions implemented by the Agreed Restructuring Plan, the subject matter of, or the transactions
or events giving rise to, any claim or interest that is affected by or classified in the Agreed Restructuring Plan, the business or contractual arrangements between the Debtors, on the one hand, and the consenting creditors on the other hand, the
restructuring of claims and interests before or during the restructuring transactions implemented by the Agreed Restructuring Plan, the negotiation, formulation, or preparation of such restructuring transactions, the RSA, the Agreed Restructuring
Plan,

  
 15 

			
		  	 the Plan Supplement, the Disclosure Statement, or any related agreements, any asset purchase agreement, instruments, or other documents
(including, for the avoidance of doubt, providing any legal opinion requested by any entity regarding any transaction, contract, instrument, document, or other agreement contemplated by the Agreed Restructuring Plan or the reliance by any Released
Party on the Agreed Restructuring Plan or the Confirmation Order in lieu of such legal opinion) created or entered into in connection with the RSA, the Disclosure Statement, the Agreed Restructuring Plan, the Chapter 11 Cases, the filing of the
Chapter 11 Cases, the pursuit of Confirmation, the pursuit of consummation, the administration and implementation of the Agreed Restructuring Plan, including the issuance or distribution of securities pursuant to the Agreed Restructuring Plan, or
the distribution of property under the Agreed Restructuring Plan, or any other related agreement, or upon any other act or omission, transaction, agreement, event, or other occurrence taking place or arising on or before the Plan Effective Date
related or relating to any of the foregoing; provided that nothing in the foregoing shall result in any of the Debtors’ officers and directors waiving any indemnification claims against the Debtors or any of their insurance carriers or any
rights as beneficiaries of any insurance policies, which indemnification obligations and insurance policies shall be assumed by the Reorganized Debtors, except to the extent provided for in the Agreed Restructuring Plan.

 
 “Releasing Party” means each of the following in their capacity as
such: (a) holders of First Lien Facility Claims; (b) the First Lien Facility Agent; (c) solely to the extent that the Required Creditor Conditions are satisfied, holders of Second Lien Deficiency Claims and the Second Lien Facility Agent; (d) the
Consenting Senior Noteholders, holders of Senior Notes Claims and the indenture trustee under the Senior Notes; (e) the trustee, and holders of claims arising, under the Secured Debentures; (f) with respect to each of the Debtors, the Reorganized
Debtors, and each of the foregoing entities in clauses (a) through (e), each such entity’s current and former predecessors, successors, affiliates (regardless of whether such interests are held directly or indirectly), subsidiaries, funds,
portfolio companies, management companies; (g) with respect to each of the foregoing entities in clauses (a) through (e), each of their respective current and former directors, officers, members, employees, partners, advisers, sub-advisers,
managers, independent contractors, agents, representatives, principals, professionals, consultants, financial advisors, attorneys, accountants, investment bankers, and other professional advisors (with respect to clause (g), each solely in their
capacity as such); (h) all holders of claims and interests that are deemed to accept the Agreed Restructuring Plan; (i) all holders of claims and interests who vote to accept the Agreed Restructuring Plan; and (j) all holders in voting classes who
abstain from voting on the Agreed Restructuring Plan and who do not opt out of the releases provided by the Agreed Restructuring Plan.

		
	Exculpation	  	Except as otherwise specifically provided in the Agreed Restructuring Plan, no Exculpated Party (as defined below) shall have or incur, and each Exculpated Party is hereby released and exculpated from, any cause of action for any
claim related to any act or omission in connection with, relating to, or arising out of, the Chapter 11 Cases, the formulation, preparation, dissemination, negotiation, filing, or termination of the RSA and related prepetition transactions, the
Disclosure Statement, the Agreed Restructuring

  
 16 

			
		  	 Plan, or any restructuring transaction implemented by the Agreed Restructuring Plan, contract, instrument, release or other agreement or
document (including providing any legal opinion requested by any entity regarding any transaction, contract, instrument, document, or other agreement contemplated by the Agreed Restructuring Plan or the reliance by any Exculpated Party on the Agreed
Restructuring Plan or the Confirmation Order in lieu of such legal opinion) created or entered into in connection with the Disclosure Statement or the Agreed Restructuring Plan, the filing of the Chapter 11 Cases, the pursuit of Confirmation, the
pursuit of Consummation, the administration and implementation of the Agreed Restructuring Plan, including the issuance of securities pursuant to the Agreed Restructuring Plan, or the distribution of property under the Agreed Restructuring Plan or
any other related agreement, except for claims related to any act or omission that is determined in a final order to have constituted actual fraud, willful misconduct, or gross negligence, but in all respects such entities shall be entitled to
reasonably rely upon the advice of counsel with respect to their duties and responsibilities pursuant to the Agreed Restructuring Plan. The Exculpated Parties have, and upon completion of the Agreed Restructuring Plan shall be deemed to have,
participated in good faith and in compliance with the applicable laws with regard to the solicitation of, and distribution of, consideration pursuant to the Agreed Restructuring Plan and, therefore, are not, and on account of such distributions
shall not be, liable at any time for the violation of any applicable law, rule, or regulation governing the solicitation of acceptances or rejections of the Agreed Restructuring Plan or such distributions made pursuant to the Agreed Restructuring
Plan.
  
 “Exculpated Party” means, collectively, and in each case
in its capacity as such: (a) the Debtors; (b) the Plan Sponsor; (c) the Consenting Senior Noteholders; and (d) with respect to each of the foregoing, such entity and its current and former affiliates, and such entity’s and its current and
former affiliates’ current and former equity holders (regardless of whether such interests are held directly or indirectly), members, subsidiaries, officers, directors, managers, principals, employees, agents, advisory board members, financial
advisors, partners, advisers, sub-advisers, attorneys, accountants, investment bankers, consultants, representatives, and other professionals, each in their capacity as such.

		
	Injunction	  	Except as otherwise expressly provided in the Agreed Restructuring Plan or for obligations issued or required to be paid pursuant to the Agreed Restructuring Plan or Confirmation Order, all entities who have held, hold, or may hold
claims or interests that have been released pursuant to the Agreed Restructuring Plan, discharged pursuant to the Agreed Restructuring Plan, or are subject to exculpation pursuant to the Agreed Restructuring Plan, are permanently enjoined, from and
after the Plan Effective Date, from taking any of the following actions against, as applicable, the Debtors, any non-Debtor subsidiary, the Reorganized Debtors, the Released Parties, or the Exculpated Parties: (a) commencing or continuing in any
manner any action or other proceeding of any kind on account of or in connection with or with respect to any such claims or interests; (b) enforcing, attaching, collecting, or recovering by any manner or means any judgment, award, decree, or order
against such Entities on account of or in connection with or with respect to any such claims or interests; (c) creating, perfecting, or enforcing any lien or encumbrance of any kind against such entities or the property or the
estates

  
 17 

			
		  	of such entities on account of or in connection with or with respect to any such claims or interests; (d) asserting any right of setoff, subrogation, or recoupment of any kind against any obligation due from such entities or against
the property of such entities on account of or in connection with or with respect to any such Claims or Interests; and (e) commencing or continuing in any manner any action or other proceeding of any kind on account of or in connection with or with
respect to any such claims or interests released or settled pursuant to the Agreed Restructuring Plan.

  
 18 

 Exhibit B 

DIP Credit Agreement 

 DEBTOR-IN-POSSESSION CREDIT AGREEMENT 

DATED AS OF JUNE [•], 2016 

AMONG 
 WARREN
RESOURCES, INC., 
 WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Administrative Agent 

AND 
 THE LENDERS

 FROM TIME TO TIME PARTY HERETO 

GSO CAPITAL PARTNERS LP, 

as Sole Lead Arranger and Sole Bookrunner 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 1 DEFINITIONS
	  	 	1	  
			
	 Section 1.1
	 	Certain Defined Terms	  	 	1	  
	 Section 1.2
	 	Accounting Terms and Determinations	  	 	29	  
	 Section 1.3
	 	Other Definitional Provisions and References	  	 	30	  
		
	 ARTICLE 2 LOANS
	  	 	30	  
			
	 Section 2.1
	 	Loans and Borrowings; Commitments	  	 	30	  
	 Section 2.2
	 	Advancing Loans; Minimum Amounts	  	 	31	  
	 Section 2.3
	 	Mandatory Prepayments	  	 	31	  
	 Section 2.4
	 	All Prepayments	  	 	32	  
	 Section 2.5
	 	Optional Prepayments of Loans	  	 	32	  
	 Section 2.6
	 	Termination, Reduction or Increase of Commitments	  	 	33	  
	 Section 2.7
	 	Interest, Interest Calculations and Certain Fees	  	 	33	  
	 Section 2.8
	 	Notes; Commitments Several	  	 	36	  
	 Section 2.9
	 	[Reserved]	  	 	37	  
	 Section 2.10
	 	General Provisions Regarding Payment	  	 	37	  
	 Section 2.11
	 	Loan Account	  	 	37	  
	 Section 2.12
	 	Maximum Interest	  	 	37	  
	 Section 2.13
	 	Taxes	  	 	38	  
	 Section 2.14
	 	Capital Adequacy	  	 	41	  
	 Section 2.15
	 	Mitigation Obligations	  	 	42	  
	 Section 2.16
	 	[Reserved]	  	 	42	  
	 Section 2.17
	 	Defaulting Lenders	  	 	42	  
	 Section 2.18
	 	Priority and Liens	  	 	43	  
		
	 ARTICLE 3 REPRESENTATIONS AND WARRANTIES
	  	 	45	  
			
	 Section 3.1
	 	Existence and Power	  	 	45	  
	 Section 3.2
	 	Organization and Governmental Authorization; No Contravention	  	 	45	  
	 Section 3.3
	 	Binding Effect	  	 	46	  
	 Section 3.4
	 	Capitalization	  	 	46	  
	 Section 3.5
	 	Financial Information	  	 	46	  
	 Section 3.6
	 	Litigation	  	 	46	  
	 Section 3.7
	 	Ownership of Property	  	 	46	  
	 Section 3.8
	 	No Default	  	 	47	  
	 Section 3.9
	 	Labor Matters	  	 	47	  
	 Section 3.10
	 	Regulated Entities	  	 	47	  
	 Section 3.11
	 	Margin Regulations	  	 	47	  
	 Section 3.12
	 	Compliance With Laws; Anti-Terrorism Laws	  	 	47	  
	 Section 3.13
	 	Taxes	  	 	48	  
	 Section 3.14
	 	Compliance with ERISA	  	 	48	  
	 Section 3.15
	 	Brokers	  	 	49	  
	 Section 3.16
	 	Environmental Compliance	  	 	49	  
	 Section 3.17
	 	Intellectual Property	  	 	49	  

  
 i 

 TABLE OF CONTENTS (CONT’D) 

 

							
	 	 	 	  	Page	 
	 Section 3.18
	 	Bankruptcy Orders	  	 	49	  
	 Section 3.19
	 	Full Disclosure	  	 	50	  
	 Section 3.20
	 	Reserve Reports, Imbalances and Marketing Matters	  	 	50	  
	 Section 3.21
	 	Maintenance and Development of Properties	  	 	51	  
	 Section 3.22
	 	Security Documents	  	 	51	  
		
	 ARTICLE 4 AFFIRMATIVE COVENANTS
	  	 	52	  
			
	 Section 4.1
	 	Financial Statements and Other Reports	  	 	52	  
	 Section 4.2
	 	Payment and Performance of DIP Obligations	  	 	57	  
	 Section 4.3
	 	Maintenance of Existence	  	 	57	  
	 Section 4.4
	 	Maintenance of Property; Insurance	  	 	58	  
	 Section 4.5
	 	Compliance with Laws	  	 	59	  
	 Section 4.6
	 	Inspection of Property, Books and Records	  	 	59	  
	 Section 4.7
	 	Use of Proceeds	  	 	59	  
	 Section 4.8
	 	Lenders’ Meetings	  	 	60	  
	 Section 4.9
	 	Hazardous Materials; Remediation	  	 	60	  
	 Section 4.10
	 	Further Assurances	  	 	60	  
	 Section 4.11
	 	Post-Closing Obligations	  	 	63	  
	 Section 4.12
	 	Production Report and Lease Operating Statements	  	 	63	  
	 Section 4.13
	 	Cash Management and Certain Prepetition Obligations	  	 	63	  
	 Section 4.14
	 	Contracts and Leases	  	 	63	  
	 Section 4.15
	 	Milestones	  	 	64	  
		
	 ARTICLE 5 NEGATIVE COVENANTS
	  	 	64	  
			
	 Section 5.1
	 	Debt	  	 	64	  
	 Section 5.2
	 	Liens	  	 	65	  
	 Section 5.3
	 	Contingent Obligations	  	 	66	  
	 Section 5.4
	 	Restricted Payments	  	 	67	  
	 Section 5.5
	 	Restrictive Agreements	  	 	67	  
	 Section 5.6
	 	Swap Contracts	  	 	68	  
	 Section 5.7
	 	Consolidations, Mergers and Sales of Assets	  	 	68	  
	 Section 5.8
	 	Investments	  	 	69	  
	 Section 5.9
	 	Transactions with Affiliates	  	 	70	  
	 Section 5.10
	 	Modification of Certain Documents; Limitation on Repayment of Debt; Restriction on Adequate Protection Payments	  	 	70	  
	 Section 5.11
	 	Fiscal Year	  	 	71	  
	 Section 5.12
	 	Conduct of Business	  	 	71	  
	 Section 5.13
	 	Capital Stock	  	 	71	  
	 Section 5.14
	 	Limitation on Sale and Leaseback Transactions	  	 	71	  
	 Section 5.15
	 	Bank Accounts	  	 	72	  
	 Section 5.16
	 	Compliance with Anti-Corruption Laws	  	 	72	  
	 Section 5.17
	 	Compliance with Anti-Terrorism Laws	  	 	72	  
	 Section 5.18
	 	Subsidiaries	  	 	73	  
	 Section 5.19
	 	Prepetition Secured Obligations	  	 	73	  

  
 ii 

 TABLE OF CONTENTS (CONT’D) 

 

							
	 	 	 	  	Page	 
	 Section 5.20
	 	Changes to DIP Orders	  	 	73	  
	 Section 5.21
	 	[Reserved]	  	 	73	  
	 Section 5.22
	 	Superpriority Administrative Expense Claims	  	 	73	  
	 Section 5.23
	 	Use of DIP Facility Proceeds	  	 	73	  
	 Section 5.24
	 	Rejection of Oil and Gas Leases	  	 	73	  
	 Section 5.25
	 	Section 506(c) Claims	  	 	73	  
	 Section 5.26
	 	Budget Covenant; Permitted Variances	  	 	74	  
	 Section 5.27
	 	Capital Expenditures	  	 	74	  
	 Section 5.28
	 	Material Contracts	  	 	74	  
		
	 ARTICLE 6 [RESERVED]
	  	 	75	  
		
	 ARTICLE 7 CONDITIONS
	  	 	75	  
			
	 Section 7.1
	 	Conditions Precedent to Effectiveness	  	 	75	  
	 Section 7.2
	 	Conditions Precedent to Availability of Loans	  	 	75	  
	 Section 7.3
	 	Conditions to Extensions of Credit	  	 	77	  
		
	 ARTICLE 8 EVENTS OF DEFAULT
	  	 	78	  
			
	 Section 8.1
	 	Events of Default	  	 	78	  
	 Section 8.2
	 	Acceleration and Suspension or Termination of Loans and Commitments	  	 	81	  
	 Section 8.3
	 	[Reserved]	  	 	81	  
	 Section 8.4
	 	Default Rate of Interest and Suspension of LIBOR Rate Options	  	 	81	  
	 Section 8.5
	 	Set-off Rights	  	 	81	  
	 Section 8.6
	 	Application of Proceeds	  	 	82	  
		
	 ARTICLE 9 EXPENSES AND INDEMNITY
	  	 	82	  
			
	 Section 9.1
	 	Expenses	  	 	82	  
	 Section 9.2
	 	Indemnity	  	 	84	  
		
	 ARTICLE 10 ADMINISTRATIVE AGENT
	  	 	85	  
			
	 Section 10.1
	 	Appointment and Authorization	  	 	85	  
	 Section 10.2
	 	Administrative Agent and Affiliates	  	 	85	  
	 Section 10.3
	 	Action by Administrative Agent	  	 	85	  
	 Section 10.4
	 	Consultation with Experts; Delegation of Duties	  	 	86	  
	 Section 10.5
	 	Liability of Administrative Agent	  	 	87	  
	 Section 10.6
	 	Indemnification	  	 	87	  
	 Section 10.7
	 	Right to Request and Act on Instructions	  	 	88	  
	 Section 10.8
	 	Credit Decision	  	 	88	  
	 Section 10.9
	 	Collateral Matters	  	 	88	  
	 Section 10.10
	 	Agency for Perfection	  	 	89	  
	 Section 10.11
	 	Notice of Default	  	 	90	  
	 Section 10.12
	 	Successor Administrative Agent	  	 	90	  
	 Section 10.13
	 	Disbursements of Loans; Payment and Sharing of Payment	  	 	91	  
	 Section 10.14
	 	Right to Perform, Preserve and Protect	  	 	93	  

  
 iii 

 TABLE OF CONTENTS (CONT’D) 

 

							
	 	 	 	  	Page	 
	 Section 10.15
	 	Additional Titled Agents	  	 	93	  
	 Section 10.16
	 	Administrative Agent May File Proof of Claim	  	 	93	  
		
	 ARTICLE 11 MISCELLANEOUS
	  	 	94	  
			
	 Section 11.1
	 	Survival	  	 	94	  
	 Section 11.2
	 	No Waivers	  	 	94	  
	 Section 11.3
	 	Notices	  	 	94	  
	 Section 11.4
	 	Severability	  	 	96	  
	 Section 11.5
	 	Amendments and Waivers	  	 	96	  
	 Section 11.6
	 	Assignments; Participations; Replacement of Lenders	  	 	97	  
	 Section 11.7
	 	Headings	  	 	100	  
	 Section 11.8
	 	Confidentiality	  	 	100	  
	 Section 11.9
	 	Waiver of Consequential and Other Damages	  	 	101	  
	 Section 11.10
	 	Marshaling; Payments Set Aside	  	 	101	  
	 Section 11.11
	 	GOVERNING LAW; SUBMISSION TO JURISDICTION	  	 	101	  
	 Section 11.12
	 	WAIVER OF JURY TRIAL	  	 	102	  
	 Section 11.13
	 	Publication; Advertisement	  	 	102	  
	 Section 11.14
	 	Counterparts; Integration	  	 	103	  
	 Section 11.15
	 	No Strict Construction	  	 	103	  
	 Section 11.16
	 	USA PATRIOT Act Notification	  	 	103	  
	 Section 11.17
	 	[Reserved]	  	 	103	  
	 Section 11.18
	 	[Reserved]	  	 	103	  
	 Section 11.19
	 	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	103	  

  
 iv 

 ANNEXES, EXHIBITS AND SCHEDULES 

ANNEXES 
  

					
	Annex A	  	-	  	Commitment Amounts (as of Closing Date)

 EXHIBITS 
  

					
	Exhibit A	  	-	  	Assignment Agreement
	Exhibit B	  	-	  	Compliance Certificate
	Exhibit C	  	-	  	Notice of Borrowing
	Exhibit D	  	-	  	[Reserved]
	Exhibit E-1	  	-	  	U.S. Tax Compliance Certificates for Non-U.S. Lenders that are not Partnerships
	Exhibit E-2	  	-	  	U.S. Tax Compliance Certificates for Non-U.S. Lenders that are Partnerships
	Exhibit E-3	  	-	  	U.S. Tax Compliance Certificates for Foreign Participants that are not Partnerships
	Exhibit E-4	  	-	  	U.S. Tax Compliance Certificates for Foreign Participants that are Partnerships
	Exhibit F	  	-	  	Note
	Exhibit G	  	-	  	[Reserved]
	Exhibit H	  	-	  	[Reserved]
	Exhibit I	  	-	  	Initial Budget

 SCHEDULES 
  

					
	Schedule 3.1	  	-	  	Organization
	Schedule 3.4	  	-	  	Capitalization
	Schedule 3.6	  	-	  	Litigation
	Schedule 3.15	  	-	  	Brokers
	Schedule 3.16	  	-	  	Environmental Compliance
	Schedule 3.20	  	-	  	Defensible Title
	Schedule 3.21	  	-	  	Maintenance/Permits
	Schedule 4.11	  	-	  	Post-Closing Obligations
	Schedule 5.1	  	-	  	Debt
	Schedule 5.2	  	-	  	Liens
	Schedule 5.3	  	-	  	Contingent Obligations
	Schedule 5.5	  	-	  	Restrictive Agreements
	Schedule 5.8	  	-	  	[Reserved]
	Schedule 5.9	  	-	  	Transactions with Affiliates
	Schedule 5.12	  	-	  	Business Description

  
 v 

 DEBTOR-IN-POSSESSION CREDIT AGREEMENT 

DEBTOR-IN-POSSESSION CREDIT AGREEMENT dated as of June [•], 2016 among Warren Resources, Inc., a Maryland corporation (the
“Borrower”), the financial institutions or other entities from time to time parties hereto, each as a lender (collectively, the “Lenders” and individually, a “Lender”), and Wilmington Trust,
National Association, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”). 

RECITALS: 

WHEREAS, on June 2, 2016 (the “Petition Date”), the Debtors (as hereinafter defined) filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code (as hereinafter defined) in the Bankruptcy Court (as hereinafter defined); 

WHEREAS, the Borrower has requested that the Lenders provide it with a debtor-in-possession delayed draw term loan facility (the
“DIP Facility”), to be used during the Chapter 11 Cases (as hereinafter defined), with an aggregate principal amount of up to $20,000,000 available for borrowings on or after the Availability Date (as hereinafter defined), in
each case, subject to the terms set out herein (including the covenant in Section 5.26 in respect of the Budget (as hereinafter defined)) and the other Financing Documents (as hereinafter defined) and in the DIP Orders (as hereinafter
defined); 
 WHEREAS, the Guarantors (as hereinafter defined) have agreed to guarantee the DIP Obligations (as hereinafter defined)
of the Borrower hereunder and the Borrower and each Guarantor have agreed to secure all of the DIP Obligations hereunder by granting to the Administrative Agent, for the benefit of the Secured Parties (as hereinafter defined), a Lien (as hereinafter
defined) on substantially all of their assets pursuant to and on the terms set forth in the DIP Orders; and 
 WHEREAS, pursuant to the
terms of the DIP Orders, all DIP Obligations will be secured by valid perfected Liens on substantially all of the Borrower’s and each Guarantor’s assets, having the priorities set forth in the DIP Orders and in all cases, subject to
Permitted Liens (as hereinafter defined) and the Carve Out (as hereinafter defined). 
 NOW, THEREFORE, in consideration of the premises and
the agreements, provisions and covenants herein contained, the Borrower, the Lenders and the Administrative Agent agree as follows: 

ARTICLE 1 
 DEFINITIONS

 Section 1.1 Certain Defined Terms. 

The following terms have the following meanings: 

“13-Week Budget” means a thirteen-week rolling operating budget and cash flow forecast, in form and substance reasonably
acceptable to the Lead Lenders, which shall reflect the Borrower’s good-faith projection of all weekly cash receipts and disbursements in connection with the operation of the Credit Parties’ and their respective Subsidiaries’ business
during such thirteen-week period, including but not limited to, collections, payroll, capital expenditures and other major cash outlays, as such budget and forecast may be updated from time to time as required under Section 4.1(q). 

 “Accepting Lenders” has the meaning set forth in Section 2.3(f). 

“Additional Titled Agents” has the meaning set forth in Section 10.15. 

“Adequate Protection” shall have the meaning assigned to such term in the DIP Orders. 

“Adequate Protection Liens” has the meaning ascribed to such term in the Interim Financing Order or, upon entry of the
Final DIP Order, in the Final DIP Order, as applicable. 
 “Adequate Protection Payments” means the adequate
protection payments to the Prepetition First Lien Secured Parties pursuant to the terms of the DIP Orders. 
 “Administrative
Agent” has the meaning specified in the introductory paragraph hereto. 
 “Affiliate” means with respect to any
Person (i) any Person that directly or indirectly controls such Person, (ii) any Person that is controlled by or is under common control with such controlling Person and (iii) each of such Person’s (other than, with respect to
any Lender, any Lender’s) officers or directors (or Persons functioning in substantially similar roles) and the spouses, parents, descendants and siblings of such officers, directors or other Persons. As used in this definition, the term
“control” of a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise majority voting power, by contract or
otherwise. 
 “Aggregate Commitment Amount” means $20,000,000, as reduced from time to time pursuant to the terms
hereof. 
 “Agreement” means this Debtor-in-Possession Credit Agreement, as the same may be amended, supplemented,
restated, amended and restated, refinanced, replaced or otherwise modified from time to time. 
 “Anti-Corruption Laws” has
the meaning set forth in Section 5.16(a). 
 “Anti-Terrorism Laws” means any economic sanctions Laws, including
Executive Order No. 13224 (effective September 24, 2001), the USA PATRIOT Act, the Laws comprising or implementing the Bank Secrecy Act, and the Laws administered by OFAC and the U.S. Department of State. 

“Applicable Percentage” means, with respect to any Lender, the percentage of the Aggregate Commitment Amount represented by
such Lender’s Commitment Amount; provided that for purposes of Section 2.17 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the percentage of the Aggregate Commitment Amount (disregarding any
Defaulting Lender’s Commitment Amount) represented by such Lender’s Commitment Amount. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Commitment Amounts most recently in effect,
giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 

  
 2 

 “Approved Fund” means any (i) investment company, fund, trust,
securitization vehicle or conduit that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business or (ii) any Person (other than a
natural person) that temporarily warehouses loans for any Lender or any entity described in the preceding clause (i) and that, with respect to each of the preceding clauses (i) and (ii), is administered, managed, advised or sub-advised by
(a) a Lender, (b) an Affiliate of a Lender or (c) a Person (other than a natural person) or an Affiliate of a Person (other than a natural person) that administers, manages, advises or sub-advises a Lender. 

“Approved Plan” has the meaning assigned to such term in the definition of “Milestones”. 

“Arranger” means GSO Capital Partners LP. 

“Asset Disposition” means any sale, lease, license, transfer, assignment or other consensual disposition by any Credit
Party of any asset, but excluding (i) dispositions of inventory or used, obsolete, worn-out or surplus equipment, all in the Ordinary Course of Business, (ii) dispositions of Permitted Investments, (iii) sales, transfers and other
dispositions of accounts receivable in connection with the compromise, settlement or collection thereof in the Ordinary Course of Business, but, in any event, not in connection with any receivables financing or factoring arrangement, (iv) the
lease, assignment, license, sub-license or sub-lease of any personal property or office lease in the Ordinary Course of Business to the extent the same does not materially interfere with the business of the Borrower or any Subsidiary,
(v) [reserved], (vi) the sale in the Ordinary Course of Business of Hydrocarbons produced from any of the Credit Parties’ Hydrocarbon Interests, (vii) the creation of a Permitted Lien and (viii) the surrender or waiver of
contract rights or the disposition, settlement, release or surrender of contract, tort or other claims of any kind. 

“Assignment Agreement” means an assignment and assumption agreement entered into by a Lender and an Eligible Assignee (with
the consent of any party whose consent is required by Section 11.6(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit A, or any other form approved by the Administrative Agent. 

“Availability Date” has the meaning specified therefor in Section 7.2. 

“Availability Period” means the period commencing on the Availability Date and ending on the Termination Date.

 “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution
Authority in respect of any liability of an EEA Financial Institution. 

  
 3 

 “Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 

“Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy”. 

“Bankruptcy Court” means the United States Bankruptcy Court for the Southern District of Texas. 

“Blocked Person” means any Person: (i) listed in the annex to, or that is otherwise subject to the provisions of,
Executive Order No. 13224; (ii) owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or that is otherwise subject to the provisions of, Executive Order No. 13224; (iii) with which any
Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law; (iv) that commits, threatens or conspires to commit or supports “terrorism” as defined in Executive Order No. 13224; or
(v) that is named a “specially designated national,” “foreign sanctions evader” or “blocked person” on the most current list published by OFAC or other similar list. 

“Bond” means any completion bond, performance bond, bid bond, appeal bond, surety bond, insurance obligation or bond or any
similar bond or obligation, or any letter of credit or guarantee functioning as or supporting any of the foregoing bonds or obligations, incurred by the Borrower or any Subsidiary in the Ordinary Course of Business. 

“Borrower” has the meaning specified in the introductory paragraph hereto. 

“Borrowing” shall mean Loans made on the same date and as to which a single Interest Period is in effect. 

“Borrower Materials” has the meaning set forth in Section 11.3(c). 

“Borrower Representative” has the meaning set forth in Section 5.16(a). 

“Budget” shall have the meaning assigned to such term in Section 4.1(q). 

“Business Day” means any day except a Saturday, Sunday or other day on which either the New York Stock Exchange is closed, or
on which commercial banks in New York City are authorized by Law to close and, in the case of a Business Day that relates to a LIBOR Loan, a day on which dealings are carried on in the London interbank eurodollar market. 

“Capital Lease” of any Person means any lease of any property by such Person as lessee that would, in accordance with GAAP,
be required to be accounted for as a capital lease on the balance sheet of such Person. 
 “Capital Stock” means any and
all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to
purchase any of the foregoing. 

  
 4 

 “Carry Forward Amount” means the amount of (i) any projected Operating
Disbursements not expended in a given Testing Period or (ii) any total net Receipts exceeding projected Receipts, each of which shall carry forward into, and be available for use in, future Testing Periods. 

“Carve Out” shall have the meaning assigned to such term in the Interim Financing Order and the Final DIP Order, as
applicable. 
 “Casualty Event” means any loss, casualty or other insured damage to, or any taking under
power of eminent domain or by condemnation or similar proceeding of, any Property or asset of the Borrower or any Subsidiary that was included in the most recent Reserve Report. 

“Casualty Proceeds” means (i) the aggregate insurance proceeds received in connection with one or more related events
under any insurance policy with respect to Oil and Gas Properties or (ii) any award or other compensation with respect to any eminent domain, condemnation of property or similar proceedings (or any transfer or disposition of property in lieu of
condemnation). 
 “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980,
including all amendments thereto and all regulations thereunder. 
 “Change in Control” means: (a) the acquisition of
ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934, as amended, and the rules of the Securities and Exchange Commission thereunder as in effect on the date
hereof), of Capital Stock representing more than 50% of the aggregate ordinary voting power represented by the issued and outstanding Capital Stock of the Borrower; (b) occupation of a majority of the seats (other than vacant seats) on the
board of directors of the Borrower by Persons who were neither (i) nominated by the board of directors of the Borrower, nor (ii) appointed by directors so nominated; (c) the occurrence of a “Change in Control” (or any other
defined term having a similar purpose) as defined in the documentation governing the Prepetition Senior Notes; (d) a change of control or similar event shall occur as provided in any other credit agreement, indenture or other agreement
governing Debt issued by any Credit Party to the extent the aggregate principal amount of the Debt evidenced thereby equals or exceeds $10,000,000; or (e) an Asset Disposition by the Borrower or a Subsidiary pursuant to which the Borrower or
any Subsidiary sells, leases, licenses, transfers, assigns or, by other consensual disposition, in one or a series of related transactions, conveys more than 50% of the properties or assets of the Borrower and its Subsidiaries as determined by
reference to the Borrower’s and its Subsidiaries’ financial statements on the last day of the most recently ended Fiscal Quarter, determined on a consolidated basis in accordance with GAAP. 

“Chapter 11 Cases” means the voluntary cases of the Debtors filed under Chapter 11 of the Bankruptcy Code in the
Bankruptcy Court. 
 “Closing Date” means the date of this Agreement. 

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

  
 5 

 “Collateral” means all property, now existing or hereafter acquired, mortgaged
or pledged to, or purported to be subjected to a Lien in favor of, the Administrative Agent, for the benefit of the Secured Parties, pursuant to the Security Documents, except for the Excluded Property. 

“Collateral Documents” means, collectively, the Mortgages, the Security Agreement, the Guaranty, the Pledge Agreement and any
other Security Documents, in each case executed pursuant to this Agreement, and all financing statements filed in connection therewith. 

“Commitment” means, as to each Lender, the commitment of such Lender to make Loans, expressed as an amount
representing the maximum aggregate amount of such Lender’s Loans hereunder; provided that such Lender’s Commitment shall never exceed the lesser of (x) such Lender’s Commitment Amount and (y) such Lender’s
Applicable Percentage of the Aggregate Commitment Amount, in each case, as such amounts may be adjusted from time to time in accordance with this Agreement 

“Commitment Amount” means, with respect to each Lender, as applicable, the amount set forth opposite such
Lender’s name on Annex A or in the Assignment Agreement pursuant to which such Lender shall have assumed its Commitment (or as set forth opposite such Lender’s name on Annex A, plus (minus) any amounts assumed
(assigned) pursuant to an Assignment Agreement). The amount of each Lender’s Commitment Amount as of the Closing Date is set forth on Annex A. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. §1 et seq.), as amended from time to time,
and any successor statute, or any rule, regulation or order of the U.S. Commodity Futures Trading Commission promulgated thereunder (or the application or official interpretation of any thereof). 

“Compliance Certificate” means a certificate, duly executed by a Responsible Officer, appropriately completed and
substantially in the form of Exhibit B hereto. 
 “Confirmation Order” has the meaning assigned to such
term in the definition of “Milestones”. 
 “Connection Income Taxes” means Other Connection Taxes that are
imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated
Subsidiary” means, at any date, any Subsidiary the accounts of which would be consolidated with those of the Borrower (or any other Person, as the context may require hereunder) in its consolidated financial statements if such statements
were prepared as of such date. 
 “Contingent Obligation” means, with respect to any Person, any direct or indirect
liability of such Person: (i) with respect to any debt, lease, dividend or other obligation of another Person if the purpose or intent of such Person incurring such liability, or the effect thereof, is to provide assurance to the obligee of
such liability that such liability will be paid or discharged, or that any agreement relating thereto will be complied with, or that any holder of such liability will be protected, in whole or in part, against loss with respect thereto;
(ii) with respect to any undrawn portion of any letter of credit issued for the account of such Person or as to which such Person is otherwise liable for the reimbursement of any drawing; (iii) under any

  
 6 

 
Swap Contract, to the extent not yet due and payable; (iv) to make take-or-pay or similar payments if required regardless of nonperformance by any other party or parties to an agreement; or
(v) for any obligations of another Person pursuant to any agreement to purchase, repurchase or otherwise acquire any obligation or any property constituting security therefor, to provide funds for the payment or discharge of such obligation or
to preserve the solvency, financial condition or level of income of another Person. The amount of any Contingent Obligation shall be equal to the amount of the obligation so guaranteed or otherwise supported or, if not a fixed and determinable
amount, the maximum amount so guaranteed or otherwise supported. Contingent Obligation shall exclude any obligation arising pursuant to an Excluded Property Leaseback. 

“Credit Party” means any of the Borrower and each Guarantor, whether now existing or hereafter acquired or formed; and
“Credit Parties” means all such Persons, collectively. 
 “Debt” of a Person means at any date, without
duplication, (i) all obligations of such Person for borrowed money, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person to pay the deferred
purchase price of property or services, except trade accounts payable, accrued expenses and deferred compensation and other pension benefit and welfare expenses, in each case arising in the Ordinary Course of Business and not overdue by more than
sixty (60) days, (iv) all Capital Leases of such Person, (v) all non-contingent obligations of such Person to reimburse any bank or other Person in respect of amounts paid under a letter of credit, banker’s acceptance or
similar instrument, (vi) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (vii) all Debt secured by a Lien on any asset of such Person, regardless of
whether such Debt is otherwise Debt of such Person (other than a Lien described in clause (g) of Section 5.2), (viii) all Debt of others Guaranteed by such Person, and (ix) obligations to deliver Hydrocarbons, in consideration of
one or more advance payments for periods in excess of 180 days prior to the day of delivery, other than sales of Hydrocarbons, firm transportation contracts, take or pay contracts, gas balancing arrangements and similar obligations in the
ordinary course of business. Without duplication of any of the foregoing, Debt of the Borrower shall include (x) any and all Loans and (y) any and all Prepetition Senior Notes, Prepetition First Lien Debt and Prepetition Second Lien Debt.

 “Debtors” means (i) the Borrower, (ii) Warren Energy Services, LLC, a Delaware limited liability
company, (iii) Warren E&P, Inc., a New Mexico corporation, (iv) Warren Marcellus LLC, a Delaware limited liability company, (v) Warren Resources of California, Inc., a California corporation, and (vi) Warren Management Corp.,
a Delaware corporation. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States of America, and all
other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from
time to time in effect. 
 “Declining Lender” has the meaning set forth in Section 2.3(f). 

“Default” means any condition or event which with the giving of notice or lapse of time or both would, unless cured or
waived, become an Event of Default. 

  
 7 

 “Defaulting Lender” means, subject to Section 2.17(b), any Lender that
(a) has failed to (i) fund all or any portion of its Loans hereunder within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in
writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing)
has not been satisfied, or (ii) pay to the Administrative Agent any amount required to be paid by it hereunder within two (2) Business Days of the date when due, (b) has notified the Borrower or the Administrative Agent in writing
that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such
position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied),
(c) has failed within three (3) Business Days after written request by the Administrative Agent or the Borrower to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations
hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect
parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a
Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide
such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or
disaffirm any contracts or agreements made with such Lender, or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest
in that Lender or any direct or indirect parent company thereof by a governmental authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from
the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such governmental authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to
Section 2.17(b)) upon delivery of written notice of such determination to the Borrower and each Lender. 
 “Defensible
Title” means, with respect to the assets of the Borrower or any Subsidiary (a) the title of the Borrower or such Subsidiary to such assets is free and clear of all Liens of any kind whatsoever (except Permitted Liens), (b) with
respect to the Mortgaged Properties, the title of the Borrower or such Subsidiary as is deducible from applicable public records, and (c) with respect to the Mortgaged Properties, the representations and warranties set forth in
Section 3.20(a) are true and correct. 

  
 8 

 “Designated Title Exceptions” has the meaning assigned to such term in
Section 3.20(a). 
 “DIP Facility” has the meaning specified in the recitals hereto. 

“DIP Obligations” means all obligations, liabilities of every nature of any Credit Party from time to time owed to the
Administrative Agent or the Lenders under this Agreement and any other Financing Document, in each case, whether for principal, interest, funding indemnification amounts, fees, expenses, indemnification or otherwise; provided that the
definition of “DIP Obligations” shall not include Excluded Swap Obligations. 
 “DIP Orders” means the
Interim Financing Order and, upon entry thereof, the Final DIP Order. 
 “Discharge of DIP Obligations” means
(a) the indefeasible payment in full in cash of all DIP Obligations (other than contingent indemnity obligations for which no claim for payment has been made (which indemnity obligations continue to survive as expressly provided in this
Agreement or in any other Financing Document), (b) termination or expiration of all Commitments and (c) termination of this Agreement other than indemnity and reimbursement obligations that expressly survive the termination hereof.

 “Disclosure Statement” has the meaning assigned to such term in the definition of “Milestones”.

 “Disclosure Statement Order” has the meaning assigned to such term in the definition of
“Milestones”. 
 “Domestic Subsidiary” means a Subsidiary organized, incorporated or otherwise formed
under the laws of the United States or any state thereof. 
 “EEA Financial Institution” means (a) any credit
institution or investment firm established in any EEA Member Country and that is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country and that is a parent of an institution described in
clause (a) of this definition, or (c) any financial institution established in an EEA Member Country and that is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated
supervision with its parent. 
 “EEA Member Country” means any of the member states of the European Union,
Iceland, Liechtenstein and Norway. 
 “EEA Resolution Authority” means any public administrative authority or
any person entrusted with public administrative authority of any EEA Member Country (including any delegate) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Assignee” means (i) a Non-Defaulting Lender, (ii) an Affiliate of a Non-Defaulting Lender, (iii) an
Approved Fund, and (iv) any other Person (other than a natural person) approved by (A) the Administrative Agent (at the direction of the Lead Lenders) and (B) unless an Event of Default pursuant to Section 8.1(a), (f) or
(g) has occurred and is continuing, the Borrower (such approval not to be unreasonably withheld, and shall be deemed provided unless expressly withheld by the Borrower within five (5) Business Days of request therefor); provided
that notwithstanding the foregoing, Eligible Assignee shall not include the Borrower or any of the Borrower’s Affiliates or Subsidiaries. 

  
 9 

 “Eligible Contract Participant” means, with respect to any Swap, a Person that
is an “eligible contract participant”, as defined in the Commodity Exchange Act, with respect to such Swap. 
 “Eligible
Secured Swap Counterparty” means (a) any Lender and/or any Affiliate of any Lender that (i) either (A) is party to a Swap Contract permitted hereunder with the Borrower or any Subsidiary on the Closing Date or (B) at any
time it occupies such role or capacity enters into a Swap Contract permitted hereunder with the Borrower or any Subsidiary and (ii) in the case of a Lender or an Affiliate of a Lender (other than an Affiliate of the Administrative Agent),
maintains a reporting system acceptable to the Lead Lenders with respect to Swap Contract exposure and agrees with the Lead Lenders to provide regular reporting to the Administrative Agent and the Lead Lenders in form and substance reasonably
satisfactory to the Lead Lenders, with respect to such exposure, and (b) any other counterparty reasonably acceptable to the Lead Lenders (provided that it is understood and agreed that Cargill and any other counterparty with an
Investment Grade Rating at the time such Swap Contract is entered into shall be deemed reasonably acceptable to the Lead Lenders) that enters into a swap intercreditor agreement. In addition thereto, any Affiliate of a Lender shall, upon the Lead
Lender’s request, execute and deliver to the Administrative Agent and the Lead Lenders a letter agreement pursuant to which such Affiliate designates the Administrative Agent as its agent and agrees to share, pro rata, all expenses relating to
liquidation of the Collateral for the benefit of such Affiliate. 
 “Eligible Swap Counterparties” means, collectively,
Eligible Secured Swap Counterparties and Eligible Unsecured Swap Counterparties. 
 “Eligible Unsecured Swap Counterparty”
means in the case of any Swap Contract the obligations under which are unsecured, any counterparty with an Investment Grade Rating at the time such Swap Contract is entered into. 

“Environmental Laws” means any and all Laws relating to the environment or the effect of the environment on human health or
to emissions, discharges or releases of pollutants, contaminants, Hazardous Materials or wastes into the environment, including ambient air, surface water, ground water or land, or otherwise relating to the manufacture, processing, distribution,
use, treatment, storage, disposal, transport or handling of pollutants, contaminants, Hazardous Materials or wastes or the clean up or other remediation thereof. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation,
storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment, or (e) any contract, agreement or other
consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

  
 10 

 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended
from time to time. 
 “ERISA Affiliate” means each trade or business (whether or not incorporated) which together with
Borrower is under common control within the meaning of Section 4001(a)(1) of ERISA or subsections (b), (c), (m), or (o) of Section 414 of the Code. Any former ERISA Affiliate of Borrower shall continue to be considered an ERISA
Affiliate of Borrower within the meaning of this definition with respect to the period such entity was an ERISA Affiliate of the Borrower and with respect to liabilities arising after such period for which the Borrower could be liable under the Code
or ERISA. 
 “ERISA Event” means (a) any “reportable event” as defined in Section 4043 of ERISA or the
regulations issued thereunder with respect to a Plan (other than an event for which the thirty (30) day notice period is waived); (b) the failure by the Borrower or any of its ERISA Affiliates to make any required contribution to a
Multiemployer Plan pursuant to Sections 431 or 432 of the Code; (c) the filing pursuant to Section 412(c) of the Code or Section 303(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any
Plan; (d) the incurrence by Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by Borrower or any ERISA Affiliate from the PBGC or a plan
administrator of any notice relating to an intention to terminate or reorganize any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by Borrower or any of its ERISA Affiliates of any liability with respect to the
withdrawal or partial withdrawal of the Borrower or any ERISA Affiliate from any Plan or Multiemployer Plan; (g) a lien has been imposed under the Code or ERISA on the assets of the Borrower or any ERISA Affiliate under Section 303(k) or
4068 of ERISA or 430(k) of the Code with respect to any Plan maintained by Borrower or any ERISA Affiliate; (h) the receipt by Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from Borrower or any ERISA
Affiliate of any notice, concerning the imposition upon Borrower or any ERISA Affiliate of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, in “endangered” or
“critical” status, or terminated within the meaning of Section 431 or 432 of the Code or Sections 304 and 305 of ERISA; (i) the occurrence of a non-exempt prohibited transaction with respect to any Plan maintained or
contributed to by any Borrower (within the meaning of Section 4975 of the Code or Section 406 of ERISA) which could reasonably be expected to result in material liability to the Borrower, (j) the imposition of liability on Borrower or
any ERISA Affiliate pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (k) the occurrence of an act or omission which could reasonably be expected to give rise to the imposition
on Borrower or any ERISA Affiliate of fines, penalties, taxes or related charges under Chapter 43 of the Code or under Section 409, Section 502(c), (i) or (l), or Section 4071 of ERISA in respect of any Plan; or
(l) receipt from the IRS of notice of the failure of any Plan intended to be qualified under Section 401(a) of the Code to qualify under Section 401(a) of the Code, or the failure of any trust forming part of any Plan to qualify for
exemption from taxation under Section 501(a) of the Code. 
 “EU Bail-In Legislation Schedule” means the EU
Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

“Event of Default” has the meaning set forth in Section 8.1. 

  
 11 

 “Excluded Property” means such assets defined in the Security Documents and
Collateral Documents. 
 “Excluded Property Leaseback” means any sale-leaseback of Excluded Property. 

“Excluded Swap Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a
portion of the guaranty by such Guarantor of, or the grant by such Guarantor of a security interest or lien to secure, or the provision by such Guarantor of other support of, such Swap Obligation is or becomes illegal under the Commodity Exchange
Act by virtue of such party’s failure for any reason to constitute an Eligible Contract Participant at the time such guaranty, grant of security interest or lien or provision of support of, such Swap Obligation becomes effective. If a Swap
Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swaps for which such guaranty, grant of security interest or lien to secure or
provision of other support is or becomes illegal. 
 “Excluded Taxes” means any of the following Taxes imposed on or with
respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a
result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or
(ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan pursuant to a law in effect
on the date on which (i) such Lender acquires such interest in the Loan (other than pursuant to an assignments request by the Borrower under Section 11.6(c)) or (ii) such Lender changes its lending office, except in each case to the
extent that, pursuant to Section 2.13(a), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending
office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.13(f), and (d) any U.S. withholding Taxes imposed under FATCA. 

“Exit Fee” has the meaning set forth in Section 2.7(d). 

“Extraordinary Receipts” means any proceeds of insurance received by any Credit Party (net of any actual and
reasonable costs incurred by such Credit Party in connection with the adjustment or settlement of any claims of such Credit Party in respect thereof), including any insurance proceeds resulting from a Casualty Event, property insurance proceeds,
life insurance proceeds, any award or other compensation as a result of a Casualty Event, and any settlement or other litigation proceeds, and any similar extraordinary cash receipts. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (and any amended or successor
versions thereof that are substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code,
any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code, and any fiscal or regulatory legislation, rules, or practices adopted pursuant to such intergovernmental agreement. 

  
 12 

 “Federal Funds Rate” means, for any day, the rate of interest per annum (rounded
upwards, if necessary, to the nearest whole multiple of 1/100 of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as
published by the Federal Reserve Bank of New York on the Business Day next succeeding such day, provided that (i) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next
preceding Business Day and (ii) if no such rate is so published on such next preceding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) quoted to U.S.
national selected by Administrative Agent on such day on such transactions as determined by Administrative Agent. 
 “Final
DIP Order” means the Final Order entered by the Bankruptcy Court (a) authorizing the Debtors to (i) obtain post-petition secured financing pursuant to this Agreement and (ii) use cash collateral during the pendency of the
Chapter 11 Cases, and (b) granting certain related relief, as the same may be amended, modified or supplemented from time to time with the prior written consent of the Administrative Agent and the Lead Lenders. 

“Final Order” means , as applicable, an order or judgment of the Bankruptcy Court or other court of competent
jurisdiction with respect to the relevant subject matter that has not been reversed, stayed, modified, or amended, and as to which the time to appeal or seek certiorari has expired and no appeal or petition for certiorari has been timely taken, or
as to which any appeal that has been taken or any petition for certiorari that has been or may be filed has been resolved by the highest court to which the order or judgment could be appealed or from which certiorari could be sought or the new
trial, reargument, or rehearing shall have been denied, resulted in no modification of such order, or has otherwise been dismissed with prejudice. 

“Financing Documents” means this Agreement, any Notes, the Security Documents, the Collateral Documents, any fee letter
between Wilmington Trust, National Association or GSO Capital Partners LP, as applicable, and the Borrower relating to the transactions contemplated hereby, and all other documents, instruments and agreements (other than any Swap Contract)
contemplated herein or thereby and heretofore executed, executed concurrently herewith or executed at any time and from time to time hereafter, as any or all of the same may be amended, supplemented, restated or otherwise modified from time to time.

 “Fiscal Quarter” means a fiscal quarter of any Fiscal Year. 

“Fiscal Year” means a fiscal year of the Borrower, ending on December 31 of each calendar year. 

“Foreign Lender” means any Lender that is not a “United States person” within the meaning of
Section 7701(a)(30) of the Code. 
 “Foreign Subsidiary” means any Subsidiary other than a Domestic Subsidiary. 

“Funding Fee” has the meaning set forth in Section 2.7(b). 

  
 13 

 “GAAP” means generally accepted accounting principles set forth from time to
time in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions
of comparable stature and authority within the United States accounting profession), which are applicable to the circumstances as of the date of determination. 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, and any agency,
department or Person exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any corporation or other Person owned or controlled (through stock or capital ownership or otherwise) by any
of the foregoing, whether domestic or foreign. 
 “GSO Lenders” means funds and accounts managed, advised or sub-advised by
GSO Capital Partners LP or its Affiliates, including without limitation FS Investment Corporation, FS Investment Corporation II, FS Investment Corporation III, FS Energy and Power Fund, Cobbs Creek LLC, Race Street Funding LLC, Lehigh River LLC,
Juniata River LLC, Green Creek LLC and Jefferson Square Funding LLC. 
 “Government Official” has the meaning set forth in
Section 5.16(b). 
 “Guarantee” by any Person means any obligation, contingent or otherwise, of such Person directly
or indirectly guaranteeing any Debt or other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase or pay (or advance or
supply funds for the purchase or payment of) such Debt or other obligation (whether arising by virtue of partnership arrangements, by agreement to keep well, to purchase assets, goods, securities or services, to take or pay, or to maintain financial
statement conditions or otherwise) or (ii) entered into for the purpose of assuring in any other manner the obligee of such Debt or other obligation of the payment thereof or to protect such obligee against loss in respect thereof (in whole or
in part), provided that the term Guarantee shall not include (x) endorsements for collection or deposit in the Ordinary Course of Business or (y) any Lien described in item (m) of the definition of “Permitted
Encumbrances”. The term “Guarantee” used as a verb has a corresponding meaning. 
 “Guarantor” means
(i) initially, Warren Energy Services, LLC, a Delaware limited liability company, Warren E&P, Inc., a New Mexico corporation, Warren Management Corp., a Delaware corporation, Warren Marcellus LLC, a Delaware limited liability company, and
Warren Resources of California, Inc., a California corporation, and (ii) each other Subsidiary that hereafter executes and delivers to Administrative Agent and the Lenders a Guaranty, in each case until such Person ceases to be a Guarantor in
accordance with the terms hereof; provided, that Warren Development Corp., a Delaware corporation, shall be required to become a Guarantor to the extent that it is not formally liquidated or dissolved on or prior to the Availability Date.

 “Guaranty” means the Guaranty, dated as of the date hereof, among the Guarantors and the Administrative Agent or, as the
context otherwise requires, a joinder to such Guaranty executed and delivered after the Closing Date. 

  
 14 

 “Hazardous Materials” means (i) any “hazardous substance” as
defined in CERCLA, (ii) any “hazardous waste” as defined by the Resource Conservation and Recovery Act, including all amendments thereto and all regulations thereunder, (iii) asbestos, (iv) polychlorinated biphenyls,
(v) petroleum, its derivatives, by-products and other hydrocarbons, (vi) mold and (vii) any other pollutant, toxic, radioactive, caustic or otherwise hazardous substance regulated under Environmental Laws. 

“Hazardous Materials Contamination” means contamination (whether now existing or hereafter occurring) of the improvements,
buildings, facilities, personalty, soil, groundwater, air or other elements on or of the relevant property by Hazardous Materials, or any derivatives thereof, or on or of any other property as a result of Hazardous Materials, or any derivatives
thereof, generated on, emanating from or disposed of in connection with the relevant property. 
 “Hydrocarbon Interests”
means all of the Borrower’s and each Guarantor’s rights, titles, interests and estates in and to oil and gas leases, oil, gas and mineral leases, or other liquid or gaseous hydrocarbon leases, mineral fee interests, overriding royalty and
royalty interests, net profit interests and production payment interests, including any reserved or residual interest of similar nature, in and under the Oil and Gas Properties that are subject to Lenders’ Liens. 

“Hydrocarbons” means oil, gas, casinghead gas, coalbed methane, drip gasoline, natural gasoline, condensate, distillate,
liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom and all other minerals. 
 “Indemnified
Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of the Borrower under any Loan or Financing Document and (b) to the extent not otherwise
described in clause (a), Other Taxes. 
 “Indemnitees” has the meaning set forth in Section 9.2. 

“Initial Budget” means the 13-Week Budget prepared by the Borrower and furnished to the Lenders on the Closing Date in
the form of Exhibit I, which weekly cash budget includes detail on a line-item basis as to (a) Receipts, (b) Operating Disbursements, (c) restructuring disbursements (which shall otherwise include Professional Fees and the
Adequate Protection Payments) and (d) debt service (which shall otherwise include interest and fees under this Agreement). 

“Initial Lenders” means the Lenders party hereto on the Closing Date. 

“Initial Reserve Report” means the reserve report dated as of December 31, 2014 prepared by Netherland
Sewell & Associates Inc., an independent petroleum engineer, concerning the Oil and Gas Properties, a copy of which has been delivered to each Lender. 

“Intellectual Property” means, with respect to any Person, all patents, trademarks, trade names, trade styles, trade dress,
service marks, logos and other business identifiers, copyrights, technology, know-how and processes, computer hardware and software and all applications and licenses therefor, used in or necessary for the conduct of business by such Person. 

  
 15 

 “Interest Payment Date” means the last day of each Interest Period applicable to
the Borrowing. 
 “Interest Period” means the period commencing on the date of Borrowing, and thereafter on the last
calendar day of each month, and ending on the last calendar day of each calendar month; provided that, no Interest Period for any Loan shall extend beyond the maturity date of such Loan. Interest shall accrue from and including the first day
of an Interest Period to but excluding the last day of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date specified in the Notice of Borrowing and thereafter shall be the effective date of the most recent
continuation of such Borrowing. 
 “Interim Financing Order” means the Interim Financing Order entered by the
Bankruptcy Court (a) authorizing, on an interim basis, the Debtors to use cash collateral during the pendency of the Chapter 11 Cases, and (b) granting certain related relief, as the same may be amended, modified or supplemented from
time to time with the prior written consent of the Administrative Agent and the Lead Lenders. 
 “Interim
Period” means the period commencing on the date that the Interim Financing Order is entered into and ending on the earlier to occur of (a) the Availability Date and (b) the Termination Date. 

“Investment” means any investment in any Person, whether by means of acquiring (whether for cash, property, services, Capital
Stock or otherwise), making or holding Debt securities, Capital Stock, capital contributions, loans, time deposits, advances, Guarantees or otherwise. The amount of any Investment shall be the original cost of such Investment plus the cost of
all additions thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect thereto. 

“Investment Grade Rating” means a rating equal to or higher than: 

(a) Baa3 (or the equivalent) with a stable or better outlook by Moody’s; and 

(b) BBB- (or the equivalent) with a stable or better outlook by S&P, 

or, if either such entity ceases to make a rating publicly available, the equivalent investment grade credit rating from any other rating agency. 

“Laws” means any and all federal, state, local and foreign statutes, laws, judicial decisions, regulations, guidances,
guidelines, ordinances, rules, judgments, orders, decrees, codes, plans, injunctions, permits, concessions, grants, franchises, governmental agreements and governmental restrictions, whether now or hereafter in effect. 

“Lead Lenders” mean (i) on the Closing Date and at any time thereafter so long as the GSO Lenders hold in the
aggregate 50% or more of the sum of (A) the aggregate Commitment Amounts of all Lenders as of such date and (B) the then aggregate outstanding principal balance of the Loans, the GSO Lenders, and (ii) on any date after the Closing
Date on which the GSO Lenders hold in the aggregate less than 50% of the sum of (A) the aggregate  

  
 16 

 
Commitment Amounts of all Lenders as of such date and (B) the then aggregate outstanding principal balance of the Loans, the Required Lenders; provided that the Commitment Amount of,
and the portion of the aggregate outstanding principal balance of the Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Lead Lenders. 

“Lender” has the meaning specified in the introductory paragraph hereto and includes each Eligible Assignee that becomes a
party hereto pursuant to Section 11.6 and the respective successors of all of the foregoing, and “Lenders” means all of the foregoing. 

“LIBOR Loans” means any Loans that accrue interest by reference to the LIBOR Rate, in accordance with the terms of this
Agreement. 
 “LIBOR Base Rate” means in determining LIBOR Rate, the inter-bank offered rate in effect from time to time
for delivery of funds for three (3) months in amounts approximately equal to the principal amount of the applicable Loans set forth on the Reuters Reference LIBOR1 page as the London Interbank Offered Rate, for deposits in Dollars at
11:00 a.m. (London, England time) two (2) Business Days before the first day of the applicable Interest Period and for a period equal to such Interest Period; provided that, if such quotation is not available for any reason, LIBOR
Base Rate shall then be the rate determined by the Lead Lenders to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in immediately available funds in the approximate amount of the Loans being made or
continued by the Lenders and with a term equivalent to such Interest Period would be offered by the London branch of a financial institution chosen by the Lead Lenders to major banks in the London or other offshore interbank market for Dollars at
their request at approximately 11:00 a.m. (London, England time) two (2) Business Days prior to the commencement of such Interest Period. 

“LIBOR Rate” means, with respect to any LIBOR Loan for any Interest Period, a rate per annum equal to the greater of
(x) 1.00% and (y) the LIBOR Base Rate. 
 “Lien” means, with respect to any asset, any mortgage, lien,
pledge, charge, security interest or encumbrance of any kind, or any other type of preferential arrangement that has the practical effect of creating a security interest, in respect of such asset. For the purposes of this Agreement and the other
Financing Documents, the Borrower or any Subsidiary shall be deemed to own subject to a Lien any asset that it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, Capital Lease or other title
retention agreement relating to such asset (other than an asset leased pursuant to an Excluded Property Leaseback). 

“Litigation” means any action, suit or proceeding before any court, mediator, arbitrator or Governmental Authority. 

“Loan” or “Loans” has the meaning set forth in Section 2.1. 

“Loan Exposure” means, with respect to any Lender on any date of determination, the percentage equal to the aggregate
outstanding principal amount of such Lender’s Loans on such date divided by the aggregate outstanding principal amount of all Lenders’ Loans on such date. 

  
 17 

 “Margin Stock” has the meaning assigned thereto in Regulation U of the
Federal Reserve Board. 
 “Material Adverse Effect” means, with respect to any event, act, condition or occurrence of
whatever nature (including any adverse determination in any litigation, arbitration, or governmental investigation or proceeding), whether singly or in conjunction with any other event or events, act or acts, condition or conditions, occurrence or
occurrences, regardless of whether related, a material adverse change in, or a material adverse effect upon, any of (i) the business, assets, properties, liabilities (actual or contingent), operations, or financial condition of the Borrower and
its Subsidiaries taken as a whole, (ii) the rights and remedies of the Administrative Agent or the Lenders under any Financing Document, or the ability of any Credit Party to perform any of its obligations under any Financing Document to which
it is a party, (iii) the legality, validity or enforceability of any Financing Document, or (iv) the existence, perfection or priority of any security interest granted in any Financing Document; provided that, Material Adverse
Effect shall expressly exclude (a) any matters Publicly Disclosed on or prior to the date hereof, (b) the effect of filing the Chapter 11 Cases and any action required to be taken under the Financing Documents, the Interim Financing
Order or the Final DIP Order and (c) the direct effect of any action taken by the Administrative Agent or the Lenders with respect to the Loans or with respect to the Credit Parties (including through such Persons’ participation in the
Chapter 11 Cases). 
 “Material Contract” means (a) any contract or agreement, written or oral, of any Credit
Party involving monetary liability of or to any Person in an amount in excess of $1,000,000 per annum or (b) any other contract or agreement of any Credit Party, the breach, non-performance, cancellation or failure to renew of which could
reasonably be expected to have a Material Adverse Effect. 
 “Maximum Lawful Rate” has the meaning set forth in
Section 2.12(b). 
 “Milestones” shall mean the following milestones relating to the Chapter 11 Cases: 

(a) the Debtors shall commence the Chapter 11 Cases in the Bankruptcy Court no later than the Petition Date; 

(b) no later than the Petition Date (or such later date as the Lead Lenders may agree in writing with the Borrower), the
Debtors shall have filed with the Bankruptcy Court a motion seeking entry of the Interim Financing Order and the Final DIP Order; 

(c) no later than five (5) days after the Petition Date (or such later date as the Lead Lenders may agree in writing with
the Borrower), the Bankruptcy Court shall have entered the Interim Financing Order, authorized the Debtors to use cash collateral until the entry of the Final DIP Order, approved the Budget and scheduled a final hearing with respect to such matters,
approval of the DIP Facility, and entry of the Final DIP Order; 
 (d) no later than fourteen (14) days after the
Petition Date (or such later date as the Lead Lenders may agree in writing with the Borrower), the Debtors shall have filed with the Bankruptcy Court (i) a plan of reorganization with respect to the Chapter 11 Cases, which shall be in form
and substance satisfactory to the Lead Lenders (the “Approved Plan”), and (ii) a related disclosure statement, which shall be in form and substance acceptable to the Lead Lenders (the “Disclosure Statement”);

  
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 (e) no later than forty-five (45) days after the Petition Date (or such
later date as the Lead Lenders may agree in writing with the Borrower), the Bankruptcy Court shall have entered the Final DIP Order, authorized the Debtors to entered into the DIP Facility and approved the Budget on a final basis; 

(f) no later than forty (40) days after filing the Disclosure Statement (or such later date as the Lead Lenders may agree
in writing with the Borrower), the Bankruptcy Court shall have entered an order (the “Disclosure Statement Order”) approving the adequacy of the Disclosure Statement; 

(g) no later than fifty (50) days after the entry of the Disclosure Statement Order (or such later date as the Lead
Lenders may agree in writing with the Borrower), the Bankruptcy Court shall have entered an order (the “Confirmation Order”) confirming the plan of reorganization; and 

(h) no later than twenty-five (25) days after the entry of the Confirmation Order (or such later date as the Lead Lenders
may agree in writing with the Borrower), the Approved Plan shall become effective. 
 “Mortgaged Properties” means the Oil
and Gas Properties described in one or more duly executed, delivered and filed Mortgages evidencing a first and prior Lien in favor of the Administrative Agent for the benefit of the Secured Parties and subject only to the Permitted Liens. 

“Mortgages” means each Deed of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security Agreement, Fixture Filing and
Financing Statement executed by the Borrower or any Guarantor, which by grant or assignment, create in favor of the Administrative Agent, for the ratable benefit of the Secured Parties, as it may be amended or modified and in effect from time to
time. 
 “Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA. 

“Net Cash Proceeds” means, with respect to any transaction or event, an amount equal to the cash proceeds received by the
Borrower or any Subsidiary from or in respect of such transaction or event (including proceeds of any non-cash proceeds of such transaction), less (i) any underwriting discounts and out-of-pocket expenses paid to a Person that are
reasonably incurred by the Borrower or such Subsidiary in connection therewith (including, without limitation, actual and reasonable documented broker’s fees or commissions, legal fees, transfer or sales taxes) and (ii) in the case of an
Asset Disposition, the amount of any Debt secured by a Lien on the related asset and discharged from the proceeds of such Asset Disposition and any taxes paid or reasonably estimated by the Borrower or the applicable Subsidiary to be payable by such
Person in respect of such Asset Disposition (provided that, if the actual amount of taxes paid is less than the estimated amount, the difference shall immediately constitute Net Cash Proceeds). 

  
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 “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting
Lender at such time. 
 “Non-Primed Excepted Liens” means (a) valid, perfected and unavoidable liens in
existence as of the Petition Date or (b) valid and unavoidable liens in existence for amounts outstanding as of the Petition Date that are perfected after the Petition Date as permitted by Section 546(b) of the Bankruptcy Code, but in each
case under the foregoing clause (a) and (b), only to the extent such valid, perfected and unavoidable liens are senior by operation of law in priority to the Prepetition Liens. 

“Note” means a promissory note made by the Borrower in favor of a Lender evidencing Loans, as the case may be, made by such
Lender, substantially in the form of Exhibit F. 
 “Notice of Borrowing” means a notice of a Responsible
Officer, appropriately completed and substantially in the form of Exhibit C hereto. 
 “Notice of Prepayment”
has the meaning set forth in Section 2.3(e). 
 “OFAC” means the U.S. Department of Treasury Office of Foreign Assets
Control. 
 “Oil and Gas Properties” means all oil, gas and/or mineral leases, oil, gas or mineral properties, mineral
servitudes and/or mineral rights of any kind (including, without limitation, mineral fee interests, lease interests, farmout interests, overriding royalty and royalty interests, net profits interests, oil payment interests, production payment
interests and other types of mineral interests), and all oil and gas gathering, treating, storage, processing and handling assets. 

“Operating Disbursements” means disbursements (including, for the avoidance of doubt, capital expenditures), other
than disbursements on account of Professional Fees, income Taxes, deposits made to utilities pursuant to an order of the Bankruptcy Court, checks outstanding on the Petition Date that are re-issued in accordance with an order of the Bankruptcy
Court, Adequate Protection paid to the Prepetition First Lien Lenders in accordance with the DIP Orders, and interest and fees paid in accordance with this Agreement. 

“Ordinary Course of Business” means, in respect of any transaction involving any Credit Party, the ordinary course of such
Credit Party’s business, as conducted by such Credit Party in accordance with past practices or which is customary in the oil and gas business. 

“Organizational Documents” means, with respect to any Person other than a natural person, the documents by which such Person
was organized (such as a certificate of incorporation, certificate of limited partnership or articles of organization, and including, without limitation, any certificates of designation for preferred stock or other forms of preferred equity) and
which relate to the internal governance of such Person (such as by-laws, a partnership agreement or an operating, limited liability company or members agreement). 

  
 20 

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

“Other Taxes” means all present or future stamp, documentary, intangible, recording, filing taxes or any other similar taxes
arising from any payment made hereunder or under any other Financing Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Financing Document, except any such Taxes that are Other
Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 11.6(c)). 

“Participant” has the meaning set forth in Section 11.6(b). 

“Participant Register” has the meaning set forth in Section 11.6(b). 

“Payment Account” means the account specified on the signature pages hereof into which all payments by or on behalf of the
Borrower to the Administrative Agent under the Financing Documents shall be made, or such other account as the Administrative Agent shall from time to time specify by notice to the Borrower. 

“PBGC” means the Pension Benefit Guaranty Corporation and any Person succeeding to any or all of its functions under ERISA.

 “Permits” has the meaning set forth in Section 3.1. 

“Permitted Contest” means a contest maintained in good faith by appropriate proceedings promptly instituted and diligently
conducted and with respect to which such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made; provided that compliance with the obligation that is the subject of such contest is
effectively stayed during such challenge. 
 “Permitted Encumbrances” means any or all of the following: 

(a) Liens imposed by law for taxes, assessments or other governmental charges that are not yet due or are being contested in
compliance with Section 4.2; 
 (b) Liens of landlords, vendors, carriers, warehousemen, mechanics, materialmen,
repairmen and other like Liens or charges imposed by law, or otherwise, arising in the Ordinary Course of Business for amounts not yet delinquent (including any amounts being withheld) or securing obligations that are not overdue by more than
sixty (60) days or are being contested in compliance with Section 4.2; 
 (c) pledges and deposits made in the
Ordinary Course of Business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations; 

(d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds,
performance bonds and other obligations of a like nature, in each case in the Ordinary Course of Business; 

  
 21 

 (e) judgment liens in respect of judgments that do not constitute an Event of
Default under clause (i) of Section 8.1; 
 (f) easements, zoning or other restrictions, rights-of-way, covenants,
conditions, servitudes, permits, authorizations, surface and use leases and agreements, rights, obligations and similar encumbrances on real or personal property imposed by law or arising in the Ordinary Course of Business that: (i) are of
record; (ii) are apparent from a physical inspection of the affected properties; (iii) the Borrower took subject to; (iv) do not secure any monetary obligations; (v) do not materially detract from the value of the affected
property; and (vi) do not interfere with the ordinary conduct of business of the Borrower or any Subsidiary; 
 (g)
liens in favor of co-owner working interest owners under joint operating agreements; 
 (h) inchoate liens arising under
ERISA to secure the contingent liabilities, if any, permitted by this Agreement (other than any lien imposed pursuant to Section 430(k) of the Code or Sections 303(k) or 4068 of ERISA); 

(i) deposits, encumbrances or pledges to secure payments of workers compensation insurance and related payments, public
liability, unemployment and other insurance, old-age pensions of other social security obligations, or the performance of bids, tenders, leases, contracts (other than contracts for the payment of money), public or statutory obligations, surety, stay
or appeal bonds, or other similar obligations arising in the Ordinary Course of Business; 
 (j) any Designated Title
Exceptions which are incurred in the Ordinary Course of Business; and 
 (k) encumbrances arising out of judgments or awards
in respect of which the Borrower shall in good faith be prosecuting an appeal or proceedings for review; provided that Borrower shall have set aside on its books adequate reserves, in accordance with GAAP, with respect to such judgment or
award. 
 provided that the term “Permitted Encumbrances” shall not include any Lien securing Debt (other than Bonds). 

“Permitted Investments” means: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United
States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof; 

(b) investments in commercial paper maturing within 180 days after the date of acquisition thereof and having, at such
date of acquisition, one (1) of the two (2) highest credit rating obtainable from S&P or from Moody’s; 

  
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 (c) investments in certificates of deposit, banker’s acceptances and time
deposits maturing within 365 days after the date of acquisition thereof that are issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws
of the United States of America or any State thereof which has a combined capital and surplus and undivided profits of not less than $250,000,000; 

(d) fully collateralized repurchase agreements with a term of not more than thirty (30) days for securities described in
clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; and 

(e) money market funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7
under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000. 

“Permitted Liens” means Liens permitted pursuant to Section 5.2. 

“Permitted Variances” has the meaning set forth in Section 5.26(b). 

“Person” means any natural person, corporation, limited liability company, professional association, limited partnership,
general partnership, joint stock company, joint venture, association, company, trust, bank, trust company, land trust, business trust or other organization, regardless of whether a legal entity, and any Governmental Authority. 

“Petition Date” has the meaning specified in the recitals hereto. 

“Plan” means any employee pension benefit plan (as defined in Section 3(2) of ERISA, but excluding any Multiemployer
Plan) subject to Title IV of ERISA in respect of which the Borrower or any ERISA Affiliate is (or, if such Plan were terminated, would under Section 4062 or Section 4069 of ERISA be deemed to be) an “employer” as defined in
Section 3(5) of ERISA. 
 “Platform” has the meaning set forth in Section 11.3(c). 

“Pledge Agreement” means the Pledge Agreement, dated as of the date hereof, among the Credit Parties and the Administrative
Agent or, as the context otherwise requires, a joinder to such Pledge Agreement executed and delivered after the Closing Date. 

“Prepetition” means the time period prior to the Petition Date. 

“Prepetition First Lien Agent” means Wilmington Trust, National Association, as administrative agent under the
Prepetition First Lien Credit Agreement. 
 “Prepetition First Lien Collateral” means the assets and Property
subject to a valid, perfected and non-avoidable lien as of the Petition Date (including any such liens securing obligations under the Prepetition First Lien Loan Documents). 

  
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 “Prepetition First Lien Credit Agreement” means that certain Credit
Agreement, dated as of May 22, 2015, among the Borrower, the lenders from time to time party thereto (the “Prepetition First Lien Lenders”) and the Prepetition First Lien Agent (as amended, restated, amended and
restated, modified, supplemented, or replaced from time to time). 
 “Prepetition First Lien Lenders” shall
have the meaning assigned to such term in the definition of “Prepetition First Lien Credit Agreement”. 

“Prepetition First Lien Loan Documents” means the “Financing Documents” (as defined in the Prepetition First
Lien Credit Agreement). 
 “Prepetition First Lien Obligations” means the “Obligations” (as defined
in the Prepetition First Lien Credit Agreement). 
 “Prepetition First Lien Secured Parties” means the
“Secured Parties” (as defined in the Prepetition First Lien Credit Agreement). 
 “Prepetition
Liens” mean the Liens securing the Prepetition First Lien Obligations and the Prepetition Second Lien Obligations. 

“Prepetition Second Lien Credit Agreement” means that certain Second Lien Credit Agreement, dated as of
October 22, 2015, among the Borrower, the financial institutions or other entities from time to time parties thereto and Cortland Products Corp., as administrative agent. 

“Prepetition Second Lien Debt” means Debt incurred pursuant to the Prepetition Second Lien Credit Agreement. 

“Prepetition Second Lien Obligations” means the “Obligations” (as defined in the Prepetition Second Lien
Credit Agreement). 
 “Prepetition Second Lien Secured Parties” means the “Secured Parties” (as
defined in the Prepetition Second Lien Credit Agreement). 
 “Prepetition Secured Obligations” means the
Prepetition First Lien Obligations and the Prepetition Second Lien Obligations. 
 “Prepetition Senior Notes” means
the Borrower’s 9.0% senior unsecured notes due August 1, 2022 issued pursuant to that certain Indenture, dated as of August 11, 2014, among the Borrower, the subsidiary guarantors party thereto and U.S. Bank National
Association, as trustee. 
 “Production Proceeds” has the meaning set forth in Section 4.10(f). 

“Professional Fees” means attorneys’ fees and expenses and the fees and expenses of any other professionals.

 “Projected Oil and Gas Production” means the projected production of oil or gas (measured by volume unit or BTU
equivalent, not sales price) for the term of any Swap Contract or for a particular month, as applicable, from the interests in Oil and Gas Properties owned by any Credit Party which are located in or offshore of the United States to the extent

  
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then categorized as Proved Developed Producing Reserves, as such production is projected in the most recent report delivered pursuant to Section 4.1(i) or (j), after deducting projected
production from any properties or interests sold or under contract for sale that had been included in such report and after adding projected production from any properties or interests that had not been reflected in such report but that are
reflected in a separate or supplemental reports meeting the requirements of Section 4.1(i) or (j) and otherwise are reasonably satisfactory to the Lead Lenders. 

“Property” of a Person means any and all property or assets, whether real, personal, or mixed, tangible or intangible, of
such Person. 
 “Pro Rata Share” means (i) with respect to a Lender’s commitment to make Loans, the Applicable
Percentage of such Lender, (ii) with respect to a Lender’s right to receive payments of principal and interest with respect to Loans, such Lender’s Loan Exposure with respect thereto and (iii) for all other purposes (including
without limitation the indemnification obligations arising under Section 10.6) with respect to any Lender, the percentage obtained by dividing (a) the sum of such Lender’s then existing Commitment Amount and the principal amount of
such Lender’s then outstanding Loans by (b) the sum of all Lenders’ then existing Commitment Amounts and the aggregate principal amount of all Lenders’ then outstanding Loans. 

“Proved Reserves” means Proved Reserves as defined in definitions for Oil and Gas Reserves promulgated by the Society of
Petroleum Engineers (or any generally recognized successor) as in effect from time to time and “Proved Developed Producing Reserves” means Proved Reserves, which are categorized as both “Developed” and
“Producing” in such definitions. 
 “Public Lender” has the meaning set forth in Section 11.3(c).

 “Publicly Disclosed” means any disclosure by the Borrower in a filing with the United States Securities and Exchange
Commission or a widely disseminated press release. 
 “PV-10 Value” means the net present value, discounted at 10% per
annum, of the future net revenues expected to accrue to the Borrower and its Subsidiaries’ collective interests in Proved Developed Producing Reserves expected to be produced from Oil and Gas Properties during the remaining expected economic
lives of such reserves. Each calculation of such expected future net revenues shall be made in accordance with the then existing standards of the Society of Petroleum Engineers (or any generally recognized successor), provided that in any
event (a) appropriate deductions shall be made for severance and ad valorem Taxes, and for operating, gathering, transportation and marketing costs required for the production and sale of such reserves, (b) appropriate adjustments shall be
made for hedging operations, provided that Swap Contracts with non-investment grade counterparties shall not be taken into account to the extent that such Swap Contracts improve the position of or otherwise benefit the Borrower or any of its
Subsidiaries and (c) the pricing assumptions used in determining PV-10 Value for any particular reserves shall be: (i) for natural gas, the quotation for deliveries of natural gas for each such year from the New York Mercantile Exchange
for Henry Hub, provided that with respect to quotations for calendar years after the third (3rd) calendar year, the quotation for the third (3rd) calendar year shall be applied, (ii) for crude oil, the quotation for deliveries of West Texas Intermediate crude oil for each such calendar year from the New York Mercantile Exchange for

  
 25 

 
Cushing, Oklahoma, provided that with respect to quotations for calendar years after the third (3rd) calendar year, the quotation
for the third (3rd) calendar year shall be applied and (iii) for natural gas liquids, the quotation for deliveries of natural gas liquids for each such calendar year from
December 31, 2014, provided that with respect to quotations for calendar years after the third (3rd) calendar year, the quotation for the third (3rd) calendar year shall be applied; provided that future net revenues calculated using the pricing assumptions set forth in this clause (c) shall be further adjusted to account for the
projected average basis differential for the periods utilized for such pricing assumptions based upon market based quotations reasonably determined by the Borrower, with such supporting quotations or data as may be reasonably acceptable to the Lead
Lenders. 
 “Receipts” shall mean all cash or other collections received from operations in the ordinary course of
business, other than cash proceeds or collections from Asset Dispositions, Casualty Events (including insurance proceeds or condemnation awards), Extraordinary Receipts or the proceeds of any Loans. 

“Recipient” means (a) the Administrative Agent, (b) any Lender, and (c) any other recipient of any payment to
be made by or on account of any obligation of the Borrower hereunder or under any other Financing Document. 

“Register” has the meaning set forth in Section 2.11. 

“Rejection Notice” has the meaning set forth in Section 2.3(f). 

“Related Indemnified Person” has the meaning set forth in Section 9.2. 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors,
officers, employees, agents, advisors and sub-advisors of such Person and of such Person’s Affiliates. 
 “Required
Lenders” means, subject to the provisions of Section 10.13(d), at any time Lenders holding in the aggregate greater than fifty percent (50%) of the sum of (A) the outstanding Commitment Amounts of the Lenders and (B) the
then aggregate outstanding principal balance of the Loans; provided that the Commitment Amount of, and the portion of the aggregate outstanding principal balance of the Loans held or deemed held by any Defaulting Lender shall be excluded for
purposes of making a determination of Required Lenders. 
 “Requirement of Law” means, as to any Person, any law, treaty,
rule, regulation, statute, order, ordinance, decree, judgment, consent decree, writ, injunction, settlement agreement or governmental requirement enacted, promulgated or imposed or entered into or agreed by any Governmental Authority, in each case
applicable to or binding upon such Person or any of its property or assets or to which such Person or any of its property or assets is subject. 

“Reserve Report” means the report regarding the Proved Reserves of the Credit Parties provided pursuant to
Section 4.1(i) or (j). 
 “Reserve Documents” has the meaning given in Section 4.1(k). 

“Responsible Officer” means any of the Chairman of the Board, Chief Executive Officer, President, Chief Financial Officer,
Treasurer, or any other officer of the Borrower or a Guarantor acceptable to Lead Lenders, notice of which has been received by the Administrative Agent. 

  
 26 

 “Restricted Payment” means as to any Person (i) any dividend or other
distribution (whether in cash, Capital Stock or other property) on any equity interest in such Person (except those payable solely in Capital Stock of the same class), (ii) any payment by such Person on account of (A) the purchase,
redemption, retirement, defeasance, surrender, cancellation, termination or acquisition of any Capital Stock in such Person or any claim respecting the purchase or sale of any equity interest in such Person or (B) any option, warrant or other
right to acquire any Capital Stock in such Person or (iii) any optional or voluntary payment, purchase, redemption, retirement, defeasance, surrender, cancellation, termination or acquisition of the Prepetition Senior Notes or any Prepetition
Second Lien Debt. 
 “RSA” means the Restructuring Support Agreement dated as of June 2, 2016, among the
Borrower, certain holders of the Prepetition Senior Notes, the Administrative Agent, the Lenders, the Prepetition First Lien Agent and the Prepetition First Lien Lenders party thereto, and all exhibits thereto, as amended in accordance with the
terms thereof. 
 “Scheduled Maturity Date” means October 31, 2016; provided, that such date
may be extended as agreed in writing by the Credit Parties and each Lender for an additional period not to exceed three (3) months without further approval of the Bankruptcy Court. 

“Second Offer” has the meaning set forth in Section 2.3(f). 

“Secured Parties” means, collectively, the Administrative Agent, the Lenders, each co-agent or sub-agent appointed by the
Administrative Agent from time to time pursuant to Section 10.1, the Indemnitees and the other Persons the DIP Obligations owing to which are or are purported to be secured by the Collateral under the terms of the Security Documents. 

“Securitization” has the meaning set forth in Section 11.8. 

“Security Agreement” means that certain Security Agreement dated as of the date hereof, among the Borrower, the Guarantors
and the Administrative Agent. 
 “Security Documents” means any agreement, document or instrument executed concurrently
herewith or at any time hereafter pursuant to which one or more Credit Parties or any other Person either (i) Guarantees payment or performance of all or any portion of the DIP Obligations and/or (ii) provides, as security for all or any
portion of the DIP Obligations, a Lien on any of its assets in favor of the Administrative Agent for its own benefit and the benefit of the Secured Parties, as any or all of the same may be amended, supplemented, restated or otherwise modified from
time to time. 
 “Settlement Service” has the meaning set forth in Section 11.6(a). 

“Stated Rate” has the meaning set forth in Section 2.12(b). 

“Subsidiary” means, with respect to any Person, (i) any corporation of which an aggregate of more than 50% of the
outstanding Capital Stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, Capital Stock of any other class or classes of such corporation shall have or might have
voting 

  
 27 

 
power by reason of the happening of any contingency) is at the time, directly or indirectly, owned legally or beneficially by such Person or one or more Subsidiaries of such Person, or with
respect to which any such Person has the right to vote or designate the vote of more than 50% of such Capital Stock whether by proxy, agreement, operation of Law or otherwise, and (ii) any partnership or limited liability company in which such
Person and/or one (1) or more Subsidiaries of such Person shall have an interest (whether in the form of voting or participation in profits or capital contribution) of more than 50% or of which any such Person is a general partner or may
exercise the powers of a general partner. Unless the context otherwise requires, each reference to a Subsidiary shall be a reference to a Subsidiary of the Borrower. Notwithstanding the foregoing, Warren Development Corp. shall not be deemed a
Subsidiary of the Borrower unless it has yet to be liquidated or dissolved at the Availability Date. 
 “Swap” means any
“swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 
 “Swap Contract” means any
“swap agreement”, as defined in Section 101 of the Bankruptcy Code. 
 “Swap Obligation” means any
obligation to pay or perform under any Swap, whether as a party to such Swap or by providing any guarantee of or provision of support for such Swap. 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding),
assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Termination Date” means the earliest to occur of (a) the Scheduled Maturity Date, (b) the date that is 120
days from the entry of the Interim Financing Order unless the Final DIP Order has been entered by the Bankruptcy Court on or before such date, (c) the effective date of a Chapter 11 plan in the Chapter 11 Cases, (d) the
consummation of a sale of all or substantially all of the assets of the Credit Parties (unless done pursuant to a confirmed Chapter 11 plan), (e) the conversion of any Chapter 11 Case to a case under Chapter 7 of the Bankruptcy
Code or the entry of an order by the Bankruptcy Court dismissing any of the Chapter 11 Cases, (f) the date of the payment in full in cash by the Credit Parties of all DIP Obligations and the termination of all Commitments in accordance
with the terms hereof or (g) the date of termination of the Commitments and/or the acceleration of all of the DIP Obligations under the DIP Facility following the occurrence and during the continuance of an Event of Default in accordance with
Section 8.2. 
 “Testing Date” shall have the meaning assigned to such term in Section 4.1(q). 

“Testing Period” means the two week period ending on the Testing Date; provided, however, that in order
to allow for timing variances associated with the receipt of hydrocarbon revenues, upon the Borrower providing the Administrative Agent and the Lead Lenders with notice at least one (1) Business Day prior to the delivery of a Variance Report,
the Borrower may, in its sole discretion, extend the Testing Period applicable to such Variance Report so as to take into consideration the Operating Disbursements made and Receipts received during the two (2) Business Days immediately
following the Testing Date. 

  
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 “Trade Date” has the meaning set forth in Section 11.6(a). 

“Transactions” means the transactions contemplated by this Agreement to occur on the Closing Date and the payment of fees and
expenses incurred in connection with the foregoing. 
 “UCC” means the Uniform Commercial Code of the State of New York or
of any other state the Laws of which are required to be applied in connection with the perfection of security interests in any Collateral. 

“United States” means the United States of America. 

“Unused Commitment” means, with respect to each Lender at any time, such Lender’s Commitment at such time, minus
the amount of Loans funded prior to such time by such Lender. 
 “Unused Commitment Fee” has the meaning set forth in
Section 2.7(c). 
 “U.S. Tax Compliance Certificate” has the meaning set forth in Section 2.13(f)(ii)B(3). 

“Variance Report” shall have the meaning assigned to such term in Section 4.1(q). 

“Warren Energy Services Pipeline Assets” means the midstream assets owned by Warren Energy Services, Inc., a Delaware
corporation, including, but not limited to, the ownership interest in gathering and pressuring equipment and a 59-mile pipeline in the Atlantic Rim Area of the Washlake Basin in Wyoming that transports gas from the gathering systems throughout the
Spyglass Hill Unit area to the Wyoming Interstate Company interstate gas transportation pipeline. 
 “Wholly-Owned
Subsidiary” means, with respect to any Person, any Subsidiary of such Person of which all of the Capital Stock (other than, in the case of a corporation, directors’ qualifying shares, to the extent legally required) are directly or
indirectly owned and controlled by such Person or one or more Wholly-Owned Subsidiaries of such Person. 
 “Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion
powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

Section 1.2 Accounting Terms and Determinations. 

Unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder (including
without limitation determinations made pursuant to the exhibits hereto) shall be made, and all financial statements required to be 

  
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delivered hereunder shall be prepared on a consolidated basis in accordance with GAAP applied on a basis consistent with the most recent audited consolidated financial statements of the Borrower
and its Consolidated Subsidiaries delivered to the Administrative Agent and the Lenders. If at any time any change in GAAP would affect the computation of any financial ratio or financial requirement set forth in any Financing Document, and either
the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP
(subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide
to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement which include a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in
GAAP. 
 Section 1.3 Other Definitional Provisions and References. 

References in this Agreement to “Articles”, “Sections”, “Annexes”,
“Exhibits” or “Schedules” shall be to Articles, Sections, Annexes, Exhibits or Schedules of or to this Agreement unless otherwise specifically provided. Any term defined herein may be used in the singular or plural.
“Include”, “includes” and “including” shall be deemed to be followed by “without limitation”. Except as otherwise specified or limited herein, references to any Person include the successors and assigns of
such Person. References “from” or “through” any date mean, unless otherwise specified, “from and including” or “through and including”, respectively. The words “assets” and “property” shall
be construed to have the same meaning and to refer to any and all tangible and intangible asset and properties any type. Unless otherwise specified herein, the settlement of all payments and fundings hereunder between or among the parties hereto
shall be made in lawful money of the United States and in immediately available funds. Time is of the essence in the Borrower’s and each other Credit Party’s performance under this Agreement and all other Financing Documents. All amounts
used for purposes of financial calculations required to be made herein shall be without duplication. References to any statute or act shall include all related current regulations and all amendments and any successor statutes, acts and regulations.
References to any statute or act, without additional reference, shall be deemed to refer to federal statutes and acts of the United States. References to any agreement, instrument or document shall include all schedules, exhibits, annexes and other
attachments thereto. 
 ARTICLE 2 

LOANS 

Section 2.1 Loans and Borrowings; Commitments. 

(a) Subject the terms and conditions contained in this Agreement and the DIP Orders and relying on the representations and warranties contained
in this Agreement, each Lender severally agrees to make loans denominated in dollars to or for the benefit of the Borrower (the “Loans” and each, a “Loan”) during the Availability Period; provided,
however, that (i) the aggregate principal amount of all Loans actually funded by such Lender shall not exceed such Lender’s Commitment and (ii) the aggregate principal amount of all Loans funded by the Lenders shall not exceed
the Aggregate Commitment Amount. Amounts borrowed under this Section 2.1 and repaid or prepaid may not be reborrowed. 

  
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 Section 2.2 Advancing Loans; Minimum Amounts. 

The Borrower shall deliver to the Administrative Agent a Notice of Borrowing with respect to each proposed Borrowing, such Notice of Borrowing
to be delivered no later than noon (Central time) on the fifth (5th) Business Day prior to such proposed Borrowing. Once given, a Notice of Borrowing shall be irrevocable and the Borrower shall be bound thereby. Each request for a Loan shall be
in a minimum amount of $1,000,000 and, if in excess of such amount, in an integral multiple of $1,000,000 in excess thereof. 

Section 2.3 Mandatory Prepayments. 

(a) Termination Date. On the Termination Date, there shall become due, and Borrower shall pay the entire outstanding principal amount of
each Loan, together with accrued and unpaid DIP Obligations pertaining thereto. 
 (b) Indebtedness and Equity Interests. In addition
to any other mandatory prepayment pursuant to this Section 2.3, within one (1) Business Days after each date on or after the Closing Date upon which the Borrower or any Subsidiary receives any proceeds from any issuance or incurrence by
the Borrower or any Subsidiary of Debt (other than Debt permitted to be issued or incurred pursuant to Section 5.1) or Equity Interests, an amount equal to 100% of the Net Cash Proceeds of the respective incurrence of Debt or issuance of Equity
Interests shall be applied on such date as a mandatory prepayment in accordance with the requirements of Sections 2.3(e), 2.3(f), 2.4 and 8.6. 

(c) Asset Dispositions and Casualty Proceeds. In addition to any other mandatory prepayment pursuant to this Section 2.3, within
five (5) Business Days after each date on or after the Closing Date upon which any Credit Party receives any Casualty Proceeds or proceeds from any Asset Disposition, an amount equal to 100% of the Net Cash Proceeds therefrom shall be applied
on such date as a mandatory prepayment in accordance with the requirements of Sections 2.3(e), 2.3(f), 2.4 and 8.6. 
 (d)
Extraordinary Receipts. In addition to any other mandatory prepayment pursuant to this Section 2.3, within five (5) Business Days after each date on or after the Closing Date upon which any Credit Party receives any Extraordinary
Receipts (whether from a single event or a related series of events and whether as one payment or a series of payments), an amount equal to 100% of the amount of Extraordinary Receipts shall be applied on such date as a mandatory prepayment in
accordance with the requirements of Sections 2.3(e), 2.3(f), 2.4 and 8.6. 
 (e) Certificates and Notices. The Borrower shall
deliver to the Administrative Agent, (i) at the time of each prepayment required under this Section 2.3, a certificate signed by a Responsible Officer of the Borrower setting forth in reasonable detail the calculation of the amount of such
prepayment and (ii) not later than noon, Central time, at least two (2) Business Days before the date of such prepayment, prior written notice of such prepayment (which such notice shall be delivered by the Administrative Agent to each
Lender on the Business Day of receipt (or the immediately following Business Day if received after noon, Central time, on any Business Day)) (a “Notice of Prepayment”). Each Notice of Prepayment shall specify the prepayment date and
the principal amount of each Loan (or portion thereof) to be prepaid. All prepayments pursuant to this Section 2.3 shall be without premium or penalty. 

  
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 (f) Declining Lenders. Each Lender may reject all or part of its applicable share of any
mandatory prepayment of Loans required to be made pursuant to this Section 2.3 by providing written notice (each, a “Rejection Notice”) to the Administrative Agent no later than 5:00 p.m. (Central time) one Business Day after
the date of such Lender’s receipt of the applicable Notice of Prepayment (any such Lender, a “Declining Lender”); provided, that, if a Lender fails to deliver a Rejection Notice to the Administrative Agent within the
time frame specified above, such failure will be deemed an acceptance by such Lender of the total amount of such mandatory prepayment of Loans. On such date, the Administrative Agent shall then provide written notice (the “Second
Offer”) to Lenders other than the Declining Lenders (such Lenders, the “Accepting Lenders”) of the additional amount available (due to such Declining Lenders’ declining such prepayment) to prepay Loans owing to such
Accepting Lenders, with such available amount to be allocated on a pro rata basis among the Accepting Lenders that accept the Second Offer. Any Lenders declining prepayment pursuant to such Second Offer shall give written notice thereof to
the Administrative Agent by 5:00 p.m. (Central time) no later than one (1) Business Day after the date of such notice of a Second Offer; provided, that, if a Lender fails to deliver a Rejection Notice to the Administrative Agent
within the time frame specified above, such failure will be deemed an acceptance of such Lender’s pro rata share of the Second Offer. The Borrower shall prepay the applicable Loans within one (1) Business Day after its receipt of
notice from the Administrative Agent of the aggregate amount of such prepayment. Amounts remaining after the allocation to Accepting Lenders as set forth above shall be retained by the Borrower. 

Section 2.4 All Prepayments. 

Any prepayment of a Loan on a day other than the last day of an Interest Period therefor shall include accrued and unpaid interest on the
principal amount being prepaid and shall be subject to Section 2.7(g)(iv). Prepayments made in accordance with Section 2.3 or Section 2.5 shall be applied in the following order: first, at all times, to the prepayment of the
outstanding principal amount of the Loans and any other amounts then due and payable under this Agreement until paid in full; second, at any time after the date on which the Bankruptcy Court issues the Final DIP Order, to the outstanding DIP
Obligations in the order specified in this Agreement, until paid in full. 
 Section 2.5 Optional Prepayments of Loans.

 (a) Subject to the provisions of Section 2.7(g)(iv), the Borrower shall have the right at any time and from time to time to prepay
any Borrowing in whole or in part, without premium or penalty; provided that any such partial prepayment of the Loans shall be in an amount equal to $1,000,000 or a higher integral multiple of $500,000; provided, further, that
such prepayments shall require written notice to the Administrative Agent not later than noon, Central time, at least two (2) Business Days prior to the date of prepayment. 

(b) Optional prepayments of Loans shall be applied in accordance with this Section 2.5 and Section 8.6. 

(c) Each notice of prepayment shall specify the prepayment date and the principal amount of each Loan (or portion thereof) to be prepaid, shall
be irrevocable and shall commit the Borrower to prepay such borrowing by the amount stated therein, together with interest then accrued and unpaid on such principal amount on the date stated therein (and all such amounts

  
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shall become due and payable for all purposes hereunder on such date); provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the
Commitments pursuant to Section 2.6, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.6. Promptly following receipt of any such notice of prepayment, the Administrative
Agent shall advise the Lenders of the contents thereof. 
 Section 2.6 Termination, Reduction or Increase of Commitments.

 (a) Termination or Reduction of Commitments. The Borrower shall have the right to terminate or permanently reduce the amount of the
Commitment Amount, at any time, or from time to time, upon notice given to the Administrative Agent (which shall promptly notify the Lenders) by noon, Central time, not less than three (3) Business Days prior to the date of termination or
reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $1,000,000 or any whole multiple of $500,000 in excess thereof for any reduction of the Commitment Amount). Any such
notice given shall be irrevocable and effective only upon receipt by the Administrative Agent; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness
of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any reduction of the Commitments shall be
applied to each Lender according to its Applicable Percentage, and the Commitment Amount of any Lender, once terminated or reduced, may not be reinstated. 

(b) [Reserved]. 

Section 2.7 Interest, Interest Calculations and Certain Fees. 

(a) Interest. From and following the Closing Date, the Loans and the other DIP Obligations shall bear interest at the LIBOR Rate plus
11.0% per annum. 
 (b) Funding Fee. Upon the advancement of the initial Borrowing on or after the Availability Date, the
Borrower agrees to pay to the Administrative Agent from the proceeds of such initial Borrowing, for the account of each Lender (excluding any Defaulting Lenders) in proportion to its Pro Rata Share of the Aggregate Commitment Amount, an upfront fee
(the “Funding Fee”) of 3.0% multiplied by the Aggregate Commitment Amount. The Funding Fee shall be due and payable on the date such initial Borrowing is advanced to the Borrower. 

(c) Unused Commitment Fee. Subject to the provisions of Section 2.17, the Borrower agrees to pay to the Administrative Agent, for
the account of each Lender (excluding any Defaulting Lenders), an unused commitment fee (the “Unused Commitment Fee”) equal to 1.0% multiplied by the daily average of each such Lender’s Unused Commitment. Such Unused Commitment
Fee shall be calculated on the basis of a year consisting of 360 days and shall be payable in arrears on the last day of each calendar month and on the Termination Date for any period then ending for which the Unused Commitment Fee shall not have
been previously paid. In the event the Commitments terminate on any date other than the last day of a calendar month, the Borrower agrees to pay to the Administrative Agent, for the account of each Lender (excluding any Defaulting Lenders), on the
date of such termination, each such Lender’s Unused Commitment Fee due for the period from the last day of the immediately preceding calendar month to the date such termination occurs. 

  
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 (d) Exit Fee. The Borrower agrees to pay to the Administrative Agent, for the account of
each Lender (excluding any Defaulting Lenders) in proportion to its Pro Rata Share of the Aggregate Commitment Amount, an exit fee (the “Exit Fee”) upon the earlier of (i) prepayment of any portion of the DIP Facility in an
amount equal to 2.0% of the principal amount of the DIP Facility so prepaid and (ii) the Termination Date in an amount equal to 2.0% of the aggregate principal amount of the DIP Facility less any amount amounts paid under the immediately
preceding clause (i) above; provided, that such Exit Fee shall be waived by the Lenders if the repayment, regardless of whether pursuant to clause (i) or clause (ii) of this Section 2.7(d), is made in cash. 

(e) Agent’s Fees. The Borrower shall pay to the Administrative Agent fees in such amounts and at such times as set forth in that
certain letter agreement dated June 2, 2016 among the Administrative Agent and the Borrower, as amended from time to time. 
 (f)
Computation of Interest and Related Fees. Interest shall be computed on the basis of a year of 360 days, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Loan, the date of
the making of such Loan shall be included, and the date of payment of such Loan shall be excluded. Interest on each Loan shall be due and payable on each Interest Payment Date; provided that (i) interest accrued pursuant to
Section 8.4 shall be payable on demand and (ii) in the event of any prepayment of any Loan pursuant to Section 2.3 or Section 2.5, accrued interest on the principal amount prepaid shall be due and payable on the date of such
prepayment. All fees pursuant to the foregoing provisions of this Section 2.7 shall be paid on the dates due, in immediately available funds to the Administrative Agent for appropriate distribution. Once paid, none of the fees shall be
refundable under any circumstances, except in the case of any overpayment due to erroneous calculation or invoicing thereof. 
 (g) LIBOR
Provisions. 
 (i) [Reserved]. 

(ii) Inability to Determine LIBOR. If prior to commencement of any Interest Period relating to a LIBOR Loan, (x) the Lead Lenders
shall have determined (which determination shall be conclusive and binding absent manifest error) that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest Period or (y) the Administrative Agent shall have been
notified by the Required Lenders that LIBOR as determined for such Interest Period (by reason of any changes arising on or after the Closing Date affecting the interbank LIBOR market) will not adequately and fairly reflect the cost to such Lenders
(as conclusively certified by such Lenders) or making or maintaining their affected Loans during such Interest Period, the Administrative Agent shall promptly provide notice of such determination to the Borrower and the Lenders (which shall be
conclusive and binding on the Borrower and the Lenders). In such event the Lenders may make loans based on each Lender’s “prime” lending rate (which determination shall be conclusive and binding absent manifest error). 

  
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 (iii) Illegality. Notwithstanding any other provisions hereof, if any Law shall make it
unlawful for any Lender to make, fund or maintain LIBOR Loans, such Lender shall promptly give notice of such circumstances to the Administrative Agent, the Borrower and the other Lenders. In such an event, the Lenders may make loans based on each
Lender’s “prime” lending rate (which determination shall be conclusive and binding absent manifest error). 
 (iv) LIBOR
Breakage Fee. Upon (A) any default by the Borrower in making any borrowing of any LIBOR Loan following the Borrower’s delivery to the Administrative Agent of any applicable Notice of Borrowing or (B) any payment of a LIBOR Loan on
any day that is not the last day of the Interest Period applicable thereto (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), the Borrower shall promptly pay the Administrative Agent, for the benefit
of all Lenders that funded or were prepared to fund any such LIBOR Loan, an amount equal to the amount of any losses, expenses and liabilities (including, without limitation, any loss (including interest paid) in connection with the re-employment of
such funds) that any Lender may sustain as a result of such default or such payment. For purposes of calculating amounts payable to a Lender under this paragraph, each Lender shall be deemed to have actually funded its relevant LIBOR Loan through
the purchase of a deposit bearing interest at LIBOR in an amount equal to the amount of that LIBOR Loan and having a maturity and repricing characteristics comparable to the relevant Interest Period; provided, however, that each Lender
may fund each of its LIBOR Loans in any manner it sees fit, and the foregoing assumption shall be utilized only for the calculation of amounts payable under this subsection. A certificate of any Lender setting forth any amount or amounts that such
Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower (with a copy thereof furnished to the Administrative Agent) and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown
as due on any such certificate within fifteen (15) days after receipt thereof. 
 (h) [Reserved]. 

(i) [Reserved]. 
 (ii)
[Reserved]. 
 (iii) [Reserved]. 

(iv) [Reserved]. 
 (v)
Increased Costs. If, after the Closing Date, the adoption or taking effect of, or any change in, any Law, or any change in the interpretation, administration or application of any Law by any Governmental Authority, central bank or comparable
agency charged with the interpretation, administration or application thereof, or compliance by any Lender with any request, guideline or directive (regardless of whether having the force of Law) of any such authority, central bank or comparable
agency: (A) shall impose, modify or deem applicable any reserve (including any reserve imposed by the Board of Governors of the Federal Reserve System, or any successor thereto, but excluding any reserve included in the determination of the
LIBOR pursuant to the provisions of this Agreement), special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by any Lender;
(B) shall subject any Lender or the Administrative Agent to any Taxes (other than (i) Indemnified Taxes, (ii) Taxes described in 

  
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clauses (b) through (d) of the definition of Excluded Taxes, and (iii) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations,
or its deposits, reserves, other liabilities or capital attributable thereto; or (C) shall impose on any Lender any other condition affecting its LIBOR Loans, any of its Notes (if any) or its obligation to make LIBOR Loans; and the result of
anything described in clauses (A), (B) and (C) above is to increase the cost to (or to impose a cost on) such Lender of making or maintaining any LIBOR Loan, or to reduce the amount of any sum received or receivable by such Lender
under this Agreement or under any of its Notes (if any) with respect thereto, then within fifteen (15) days after demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation
of the amount thereof in reasonable detail, a copy of which shall be furnished to the Administrative Agent), the Borrower shall promptly pay directly to such Lender such additional amount as will compensate such Lender for such increased cost or
such reduction, so long as such amounts have accrued on or after the day which is 180 days prior to the date on which such Lender first made demand therefore; provided that, if such adoption, taking effect, or change is given retroactive
effect, then the 180-day period referred to above shall be extended to include the retroactive effect thereof. Notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International settlements, the Basel Committee on Banking Supervision (or any
successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “change in law”, regardless of the date enacted, adopted or issued. 

Section 2.8 Notes; Commitments Several. 

(a) The portion of the Loans made by each Lender shall be evidenced, if so requested by such Lender, by a Note executed by the Borrower in an
original principal amount equal to the sum of (i) such Lender’s Loans and (ii) such Lender’s Pro Rata Share of the Lenders’ Commitment outstanding at the time of such execution. 

(b) The obligations of the Lenders hereunder to make Loans and to make payments pursuant to Section 10.6 are several and not joint. The
failure of any Lender to make any Loan, to fund any such participation or to make any payment under Section 10.6 on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no
Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment under Section 10.6. 

(c) Nothing in this Agreement shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to
constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

  
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 Section 2.9 [Reserved]. 

Section 2.10 General Provisions Regarding Payment. 

All payments to be made by the Borrower under any Financing Document, including payments of principal and interest made hereunder and pursuant
to any other Financing Document, and all fees, expenses, indemnities and reimbursements, shall be paid into the Payment Account and shall be made without set-off, deduction or counterclaim. If any payment hereunder becomes due and payable on a day
other than a Business Day, such payment shall be extended to the next succeeding Business Day and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension (it being understood and
agreed that, solely for purposes of calculating financial covenants and computations contained herein and determining compliance therewith, if payment is made, in full, on any such extended due date, such payment shall be deemed to have been paid on
the original due date without giving effect to any extension thereto). Any payments received in the Payment Account before noon, Central time, on any date shall be deemed received by the Administrative Agent on such date, and any payments received
in the Payment Account after noon, Central time, on any date may be deemed received by the Administrative Agent on the next succeeding Business Day. 

Section 2.11 Loan Account. 

The Administrative Agent shall maintain a register and loan account (the “Loan Account”) on its books to record Loans and
other extensions of credit made by Lenders hereunder or under any other Financing Document, and all payments thereon made by the Borrower. All entries in the Loan Account shall be made in accordance with the Administrative Agent’s customary
accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on the Administrative Agent’s most recent printout or other written statement delivered to the Borrower, shall be conclusive and binding evidence
of the amounts due and owing to the Administrative Agent by the Borrower absent clear and convincing evidence to the contrary; provided that any failure to so record or any error in so recording shall not limit or otherwise affect the
Borrower’s duty to pay all amounts owing hereunder or under any other Financing Document. 
 Section 2.12
Maximum Interest. 
 (a) Applicable Limit. In no event shall the interest charged with respect to the Notes (if any) or
any other obligations of the Borrower under any Financing Document exceed the maximum amount permitted under the laws of the State of New York or of any other applicable jurisdiction. 

(b) Maximum Lawful Rate. Notwithstanding anything to the contrary herein or elsewhere, if at any time the rate of interest payable
hereunder or under any Note or other Financing Document (the “Stated Rate”) would exceed the highest rate of interest permitted under any applicable Law to be charged (the “Maximum Lawful Rate”), then for so long as
the Maximum Lawful Rate would be so exceeded, the rate of interest payable shall be equal to the Maximum Lawful Rate; provided, that if at any time thereafter the Stated Rate is less than the Maximum Lawful Rate, the Borrower shall, to the
extent permitted by Law, continue to pay interest at the Maximum Lawful Rate until such time as the total interest received is equal to the total interest which would have been received had the Stated Rate been (but for the operation of this
provision) the interest rate payable. Thereafter, the interest rate payable shall be the Stated Rate unless and until the Stated Rate again would exceed the Maximum Lawful Rate, in which event this provision shall again apply. 

  
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 (c) Application of Excess Interest. In no event shall the total interest received by any
Lender exceed the amount which it could lawfully have received had the interest been calculated for the full term hereof at the Maximum Lawful Rate. If, notwithstanding the prior sentence, any Lender has received interest hereunder in excess of the
Maximum Lawful Rate, such excess amount shall be applied to the reduction of the principal balance of the Loans or to other amounts (other than interest) payable hereunder, and if no such principal or other amounts are then outstanding, such excess
or part thereof remaining shall be paid to the Borrower. In computing interest payable with reference to the Maximum Lawful Rate applicable to any Lender, such interest shall be calculated at a daily rate equal to the Maximum Lawful Rate divided by
the number of days in the year in which such calculation is made. 
 Section 2.13 Taxes. 

(a) Gross Up for Taxes. All payments of principal and interest on the Loans and all other amounts payable hereunder or under any
Financing Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law requires the deduction or withholding of any Tax from any payment to be made by a Credit Party hereunder,
then such Credit Party shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax,
then the sum payable by the applicable Credit Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings of Indemnified Taxes applicable to additional sums payable
under this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) Payment of Other Taxes by the Borrower. Without limiting the provisions of subsection (a) above, the Borrower shall timely
pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

(c) Indemnification by the Borrower. Without limiting (or duplication of) the provisions of subsection (a) or (b) above, the
Borrower shall, and does hereby, indemnify each Recipient, and shall make payment in respect thereof within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or
attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect
thereto, regardless of whether such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of any such payment or liability delivered to the Borrower by a Lender (with a
copy furnished to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

(d) Lender Indemnity. Each Lender shall severally indemnify the Administrative Agent, within ten (10) days after demand therefor,
for (i) any Taxes attributable to such Lender (but only to the extent that any Credit Party has not already indemnified the Administrative Agent for such Taxes and without limiting the obligation of the Credit Parties to do so) and
(ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.6 relating to the maintenance of a Participant Register, in either case, that are payable or paid by the Administrative Agent in
connection with any Financing Document, and any reasonable expenses arising therefrom or with respect thereto, regardless of whether such Taxes were 

  
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correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent
shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set-off and apply any and all amounts at any time owing to such Lender under any Financing Document or otherwise payable by the Administrative Agent
to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (d). 
 (e) Evidence of
Payments. After any payment of Taxes by any Credit Party to a Governmental Authority as provided in this Section 2.13, such Credit Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by
such Governmental Authority evidencing such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(f) Status of Lenders / Administrative Agent. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Financing Document
shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the
Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other
documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether such Lender is subject to backup withholding or information
reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than the documentation described in Section 2.13(f)(ii)A, (ii)B and (ii)C,
below) shall not be required if in the Lender’s reasonable judgment the completion, execution or delivery of such documentation would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or
commercial position of such Lender. 
 (ii) Without limiting the generality of the foregoing, 

A. any Lender that is a “United States person” within the meaning of Section 7701(a)(30) of the Code shall deliver to the
Borrower and the Administrative Agent (in such number of copies as shall be reasonably requested by the recipient) on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
reasonable request of the Borrower or the Administrative Agent) executed originals of Internal Revenue Service Form W-9 certifying that such Lender is exempt from United States federal backup withholding tax; and 

B. each Foreign Lender that is entitled under the Code or any applicable treaty to an exemption from or reduction of withholding Tax with
respect to payments hereunder or under any other Financing Document shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 

  
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 (1) executed originals of Internal Revenue Service Form W-8BEN or W-8BEN-E (as applicable)
claiming eligibility for benefits of an income Tax treaty to which the United States is a party; 
 (2) executed originals of Internal
Revenue Service Form W-8ECI; 
 (3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit E-1 to the effect that such Foreign Lender is not (A) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a
“10 percent shareholder” of the Borrower or either Parent within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a
“U.S. Tax Compliance Certificate”) and (y) executed originals of Internal Revenue Service Form W-8BEN or W-8BEN-E (as applicable); or 

(4) to the extent a Foreign Lender is not the beneficial owner, executed originals of Internal Revenue Service Form W-8IMY and accompanied by
Internal Revenue Service Form W-8ECI, Internal Revenue Service Form W-8BEN or W-8BEN-E (as applicable), a U.S. Tax Compliance Certificate substantially in the form of Exhibit E-2 or Exhibit E-3, Internal Revenue Service Form
W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest
exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit E-4 on behalf of each such direct and indirect partner. 

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

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

  
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 (iii) On or before the date of this Agreement (or, in the case of any successor or replacement
Administrative Agent, the date on which such person becomes the Administrative Agent hereunder), Wilmington Trust, National Association (or such successor or replacement Administrative Agent) shall deliver to the Borrower two duly executed originals
of either (A) Internal Revenue Service Form W-9, or (B)(1) an Internal Revenue Service Form W-8ECI with respect to amounts it receives on its own account, and (2) an Internal Revenue Service Form W-8IMY, as revised April 2014 (or
successor form) certifying that it is a “U.S. branch” and that the payments it receives for the account of others are not effectively connected with the conduct of a trade or business in the United States and that it is using such form as
evidence of its agreement with the Borrower to be treated as a “United States person” within the meaning of Section 7701(a)(30) of the Code (including for purposes of Chapter 4 of the Code) with respect to such payments (and the
Borrower and the Administrative Agent agree to so treat the Administrative Agent as a “United States person” within the meaning of Section 7701(a)(30) of the Code with respect to such payments as contemplated by Treasury Regulation
Section 1.1441-1T(b)(2)(iv)(A)), with the effect that the Borrower can make payments to the Administrative Agent without deduction or withholding of any Taxes imposed by the United States. 

(g) Refunds. If the Administrative Agent or a Lender determines, in its sole discretion, exercised in good faith, that it has received a
refund of any Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.13, it shall pay over such refund to the Borrower (but only to the extent of
indemnity payments made, or additional amounts paid, by the Borrower under this Section 2.13 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender and without
interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that the Borrower, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over to the
Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such
Governmental Authority. Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (g) the payment of which would
place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the
indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph (g) shall not be construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information
relating to its Taxes which it deems confidential) to the Borrower or any other Person. 
 (h) For purposes of this Section 2.13, the
term “applicable law” includes FATCA. 
 Section 2.14 Capital Adequacy. 

If any Lender shall reasonably determine that the adoption or taking effect of, or any change in, any applicable Law regarding capital or
liquidity requirements, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the
interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital or liquidity requirements (regardless of whether having the force
of Law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect 

  
 41 

 
after the Closing Date, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s
obligations hereunder to a level below that which such Lender or such controlling Person could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance (taking into consideration such
Lender’s or such controlling Person’s policies with respect to capital adequacy or liquidity) then from time to time, within fifteen (15) days after demand by such Lender (which demand shall be accompanied by a statement setting forth
the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to the Administrative Agent), the Borrower shall promptly pay to such Lender such additional amount as will compensate such
Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is 180 days prior to the date on which such Lender first made demand therefor; provided that, if such adoption, taking
effect or change is given retroactive effect, then the 180-day period referred to above shall be extended to include the retroactive effect thereof. Notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International settlements, the Basel
Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “change in law”, regardless of the date enacted,
adopted or issued. 
 Section 2.15 Mitigation Obligations. 

If any Lender requests compensation under either Section 2.7(g)(iv) or Section 2.14, or requires the Borrower to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.13, then, upon the written request of the Borrower, such Lender shall use reasonable efforts to designate a different lending office for
funding or booking its Loans hereunder or to assign its rights and obligations hereunder (subject to the provisions of Section 11.6) to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or
assignment (i) would eliminate or materially reduce amounts payable pursuant to any such Section, as the case may be, in the future, (ii) would not subject such Lender to any unreimbursed cost or expense and (iii) would not otherwise
be disadvantageous to such Lender (as determined in its sole discretion). Without limitation of the provisions of Section 9.1, the Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any
such designation or assignment. 
 Section 2.16 [Reserved]. 

Section 2.17 Defaulting Lenders. 

(a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 
 (i)
Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definitions of Lead Lenders and Required Lenders.

  
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 (ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or other
amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article 8 or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant
to Section 8.5 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second,
as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the
Administrative Agent; third, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to satisfy such Defaulting Lender’s potential future funding obligations with
respect to Loans under this Agreement; fourth, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against such Defaulting Lender as a result of such
Defaulting Lender’s breach of its obligations under this Agreement; fifth, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent
jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and sixth, to such Defaulting Lender or as otherwise directed by a court of
competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made at a
time when the conditions set forth in Section 7.2 or Section 7.3, as applicable, were satisfied or waived, such payment shall be applied solely to pay the Loans of all Non-Defaulting Lenders on a pro rata basis prior to being applied to
the payment of any Loans of such Defaulting Lender until such time as all Loans are held by the Lenders pro rata in accordance with the Commitment Amounts. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are
applied (or held) to pay amounts owed by a Defaulting Lender pursuant to this Section 2.17(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

(b) Defaulting Lender Cure. If the Borrower and the Administrative Agent agree in writing that a Lender is no longer a Defaulting
Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any cash collateral),
that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans to be held pro rata by the
Lenders in accordance with the Commitment Amounts, whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the
Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or
release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

Section 2.18 Priority and Liens. 

(a) The Borrower, on behalf of itself and each of its Subsidiaries, hereby covenants, represents and warrants that, upon entry of the DIP
Orders and the delivery and execution of this Agreement, and subject to the terms of the DIP Orders, the DIP Obligations of the Borrower and the Guarantors shall at all times: 

  
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 (i) pursuant to section 364(c)(1) of the Bankruptcy Code, be entitled to joint and several
super-priority administrative expense claims status in the Chapter 11 Cases senior to all administrative expenses of the kind specified in sections 503(b) and 507(b) of the Bankruptcy Code, subject only to (A) the Carve Out and
(B) except with respect to Property that is otherwise deemed to be unencumbered in accordance with the applicable DIP Orders), the Adequate Protection in favor of the Prepetition First Lien Agent and the Prepetition First Lien Lenders as set
forth in the DIP Orders; 
 (ii) pursuant to section 364(c)(3) of the Bankruptcy Code, be secured by a perfected second priority Lien on
the Prepetition First Lien Collateral, subject to (A) Permitted Liens and (B) the Carve Out; and 
 (iii) pursuant to section
364(c)(2) of the Bankruptcy Code, be secured by a perfected first priority Lien on any and all owned and hereafter acquired personal Property, real Property and all other assets of the Debtors and their estates, together with any proceeds thereof,
that is not Prepetition First Lien Collateral, subject to (A) Permitted Liens and (B) the Carve Out. 
 (b) All of the Liens
described in this Section 2.18 shall be effective and perfected upon entry of the Interim Financing Order or Final Order, as applicable, without the necessity of the execution, recordation of filings by the Debtors of mortgages, security
agreements, control agreements, pledge agreements, financing statements or other similar documents or notices, or the possession, control or other acts by the Administrative Agent of, or over, any Collateral, as set forth in the Interim Financing
Order or Final Order, as applicable. The Lenders, or the Administrative Agent on behalf of the Lenders, shall be permitted, but not required, to make or authorize the making of any filings, deliver any notices or take any other acts as may be
desirable under state law in order to reflect the perfection and priority of the Lenders’ claims described herein. 
 (c) Subject in all
respects to the priorities set forth in Section 2.18(a) above and the terms of the DIP Orders, the Borrower and the Guarantors hereby grant to the Administrative Agent on behalf of the Secured Parties a security interest in, and mortgage on,
all of the right, title and interest of the Borrower and the Guarantors in all real Property owned or leased by the Borrower or any Guarantor, together in each case with all of the right, title and interest of the Borrower or such Guarantor in and
to all buildings, improvements, and fixtures related thereto, any lease or sublease thereof, all general intangibles relating thereto and all proceeds thereof. The Borrower and the Guarantors hereby acknowledge that, pursuant to the DIP Orders, the
Liens in favor of the Administrative Agent on behalf of the Secured Parties in all of such real Property owned or leased by the Borrower or any Guarantor shall be perfected without the recordation of any instruments of mortgage or assignment and the
Administrative Agent and the other Secured Parties shall have the benefits of the DIP Orders. 

  
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 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

To induce the Administrative Agent and Lenders to enter into this Agreement and to make the Loans and other credit accommodations contemplated
hereby, the Borrower hereby represents and warrants to the Administrative Agent and each Lender that: 
 Section 3.1 Existence
and Power. 
 Each Credit Party (i) is an entity as specified on Schedule 3.1, (ii) is duly organized, validly
existing and in good standing under the laws of the jurisdiction specified on Schedule 3.1, and (iii) has the same legal name as it appears in such Credit Party’s Organizational Documents and an organizational identification
number (if any), in each case as specified on Schedule 3.1 (except, in each case, (i) as to those Persons becoming a Credit Party after the Closing Date, as notified to the Administrative Agent and (ii) for such changes
occurring after the Closing Date resulting from transactions permitted by Section 5.7(a)). Each Credit Party has all powers and all governmental licenses, authorizations, registrations, permits, consents and approvals required under all
applicable Laws and required in order to carry on its business as now conducted (collectively, “Permits”), except where the failure to have such Permits could not reasonably be expected to have a Material Adverse Effect. Each Credit
Party is qualified to do business as a foreign entity in each jurisdiction in which it is required to be so qualified, which jurisdictions as of the Closing Date are specified on Schedule 3.1, except where the failure to be so qualified
could not reasonably be expected to have a Material Adverse Effect. Except as set forth on Schedule 3.1 (or, as to those Persons becoming a Credit Party after the Closing Date, as notified to the Administrative Agent), no Credit Party
has had, over the five (5) year period preceding the Closing Date, any name other than its current name or was incorporated or organized under the laws of any jurisdiction other than its current jurisdiction of incorporation or organization.

 Section 3.2 Organization and Governmental Authorization; No Contravention. 

Subject to the entry of the DIP Orders and subject to any restrictions arising on account of the Borrower’s or any Subsidiary’s
status as a “debtor” under the Bankruptcy Code, the execution, delivery and performance by each Credit Party of the Financing Documents to which it is a party are within its powers, have been duly authorized by all necessary action
pursuant to its Organizational Documents, require no further action by or in respect of, or filing with, any Governmental Authority (except the filing of the Mortgages and financing statements) and do not violate, conflict with or cause a breach or
a default under (i) any Law or any of the Organizational Documents of any Credit Party or (ii) any agreement or instrument binding upon it, except for (a) the Prepetition Second Lien Credit Agreement and related financing documents or
the indenture governing the Prepetition Senior Notes and (b) such violations, conflicts, breaches or defaults as could not, with respect to this clause (ii), reasonably be expected to have a Material Adverse Effect. 

  
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 Section 3.3 Binding Effect. 

Subject to the entry of the DIP Orders and subject to any restrictions arising on account of the Borrower’s or any Subsidiary’s
status as a “debtor” under the Bankruptcy Code, each of the Financing Documents to which any Credit Party is a party constitutes a valid and binding agreement or instrument of such Credit Party, enforceable against such Credit Party in
accordance with its respective terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or other similar laws relating to the enforcement of creditors’ rights generally and by general equitable principles. 

Section 3.4 Capitalization. 

The authorized Capital Stock of each of the Credit Parties as of the Closing Date is as set forth on Schedule 3.4. All issued and
outstanding Capital Stock of each of the Credit Parties are duly authorized and validly issued, fully paid, non-assessable, free and clear of all Liens other than Permitted Liens and those in favor of the Administrative Agent for the benefit of the
Secured Parties, and such Capital Stock were issued in compliance with all applicable Laws. The identity of the holders of the Capital Stock of each of the Credit Parties (other than the Borrower) and the percentage of their fully diluted ownership
of the Capital Stock of each of the Credit Parties (other than the Borrower) as of the Closing Date is set forth on Schedule 3.4. No shares of the Capital Stock of any Credit Party (other than the Borrower), other than those described
above, are issued and outstanding as of the Closing Date. Except as set forth on Schedule 3.4, as of the Closing Date there are no preemptive or other outstanding rights, options, warrants, conversion rights or similar agreements or
understandings for the purchase or acquisition from any Credit Party of any Capital Stock of any such entity. 

Section 3.5 Financial Information. 

(a) Audited Statements. The consolidated balance sheet of the Borrower and its Consolidated Subsidiaries as of December 31, 2015,
and the related consolidated statements of operations, stockholders’ equity (or comparable calculation, if such Person is not a corporation) and cash flows for the fiscal year then ended, reported on by Grant Thornton LLP, copies of which have
been delivered to the Initial Lenders, fairly present in all material respects, in conformity with GAAP, the consolidated financial position of the Borrower and its Consolidated Subsidiaries as of such date and their consolidated results of
operations, changes in stockholders’ equity (or comparable calculation) and cash flows for such period. 
 (b) No Material Adverse
Effect. Since the Petition Date, there has been no event, development or circumstance that has had or could reasonably be expected to have a Material Adverse Effect. 

Section 3.6 Litigation. 

Except as set forth on Schedule 3.6, there is no Litigation pending or, to the knowledge of the Borrower, threatened against or
affecting the Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse decision and that, if adversely decided, could reasonably be expected to have a Material Adverse Effect or (ii) which in any
manner draws into question the validity of any of the Financing Documents. 
 Section 3.7 Ownership of Property.

 Each Credit Party is the lawful owner of, has Defensible Title to and is in lawful possession of, or has valid leasehold interests
in, all material properties and other assets (real or personal, tangible, intangible or mixed) purported or reported to be owned or leased (as the case may be) by such Person, except as may have been disposed of in the Ordinary Course of Business or
otherwise in compliance with the terms hereof. 

  
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 Section 3.8 No Default. 

Except as Publicly Disclosed, no Default or Event of Default has occurred and is continuing. Except as Publicly Disclosed, no Credit Party is
in breach or default under or with respect to any contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could reasonably be expected to have a Material Adverse
Effect. 
 Section 3.9 Labor Matters. 

As of the Closing Date, there are no strikes or other labor disputes pending or, to the Borrower’s knowledge, threatened against any
Credit Party. Hours worked and payments made to the employees of the Credit Parties have not been in violation of the Fair Labor Standards Act or any other applicable Law dealing with such matters, except as could not reasonably be expected to have
a Material Adverse Effect. All payments due from the Credit Parties, or for which any claim may be made against any of them, on account of wages and employee and retiree health and welfare insurance and other benefits have been paid or accrued as a
liability on their books, as the case may be. The consummation of the transactions contemplated by the Financing Documents and the other Financing Documents will not give rise to a right of termination or right of renegotiation on the part of any
union under any collective bargaining agreement to which it is a party or by which it is bound. 
 Section 3.10
Regulated Entities. 
 No Credit Party is an “investment company” or a company “controlled” by an
“investment company” or a “subsidiary” of an “investment company,” all within the meaning of the Investment Company Act of 1940. 

Section 3.11 Margin Regulations. 

None of the proceeds from the Loans will be used, directly or indirectly, for the purpose of purchasing or carrying any Margin Stock, for the
purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry any Margin Stock, in either case in violation of Regulation T, U or X of the Federal Reserve Board, or for any other purpose that might cause
any of the Loans to be considered a “purpose credit” within the meaning of and in violation of Regulation T, U or X of the Federal Reserve Board. 

Section 3.12 Compliance With Laws; Anti-Terrorism Laws. 

(a) Laws Generally. Each Credit Party is in compliance with the requirements of all applicable Laws, except for such Laws the
noncompliance with which could not reasonably be expected to have a Material Adverse Effect. 
 (b) Anti-Terrorism Laws. None of the
Borrower nor the other Credit Parties and, to the knowledge of the Credit Parties, none of their Affiliates nor agents acting or benefiting in any capacity in connection with the transactions contemplated by this Agreement (i) is in violation
of or has engaged in any conduct that would be sanctionable under any Anti-Terrorism Law, 

  
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(ii) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any
Anti-Terrorism Law, (iii) is a Blocked Person, or is controlled by a Blocked Person, (iv) is acting or will act for or on behalf of a Blocked Person, (v) is associated with, or will become associated with, a Blocked Person or
(vi) is providing, or will provide, material, financial or technical support or other services to or in support of acts of terrorism of a Blocked Person. No Credit Party nor, to the knowledge of any Credit Party, any of its Affiliates or agents
acting or benefiting in any capacity in connection with the transactions contemplated by this Agreement, (A) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any
Blocked Person, or (B) deals in, or otherwise engages in any transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive order or other Anti-Terrorism Law. The Borrower
and each of the Credit Parties has adopted, maintains and enforces policies, procedures and controls designed to ensure compliance with Anti-Terrorism Laws and intended to ensure no dealings or transactions with any Blocked Person. 

Section 3.13 Taxes. 

Except subject to a Permitted Contest or where the failure to do so could not reasonably be expected to have a Material Adverse Effect:
(i) all Federal, state and local tax returns, reports and statements required to be filed by or on behalf of each Credit Party have been filed with the appropriate Governmental Authorities in all jurisdictions in which such returns, reports and
statements are required to be filed and, all Taxes (including real property Taxes and state and local sales and use Taxes) and other charges (whether or not shown to be due and payable in respect thereof) have been timely paid prior to the date on
which any fine, penalty, interest, late charge or loss may be added thereto for nonpayment thereof and (ii) all Federal and state returns have been filed by each Credit Party for all periods for which returns were due with respect to employee
income tax withholding, social security and unemployment taxes, and the amounts shown thereon to be due and payable have been paid in full or adequate provisions therefor have been made. 

Section 3.14 Compliance with ERISA. 

No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability
is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. Each Plan is in material compliance with ERISA, the Code and any applicable law. Except as could not, individually or in the aggregate, reasonably
be expected to result in a Material Adverse Effect: (1) no liability to the PBGC (other than required premium payments) or to the IRS has been or is expected to be incurred by the Borrower or any ERISA Affiliates with respect to any Plan;
(2) all amounts required by applicable law with respect to, or by the terms of, any retiree welfare benefit arrangement maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate has an obligation to
contribute have been accrued in accordance with Accounting Standards Codification Topic 715-60; and (3) the present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Accounting Standards
Codification Topic No. 715-30) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan, and the present value of all accumulated benefit obligations of all
underfunded Plans (based on the assumptions used for purposes of Accounting Standards Codification Topic No. 715-30) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the
assets of all such underfunded Plans. 

  
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 Section 3.15 Brokers. 

Except as set forth on Schedule 3.15, and except for fees payable to the Administrative Agent and/or Lenders, no broker, finder or
other intermediary has brought about the obtaining, making or closing of the transactions contemplated by the Financing Documents, and no Credit Party has or will have any obligation to any Person in respect of any finder’s or brokerage fees in
connection herewith or therewith. 
 Section 3.16 Environmental Compliance. 

Except as set forth in Schedule 3.16, and except with respect to any other matters that, individually or in the aggregate, could
not reasonably be expected to result in a Material Adverse Effect, neither the Borrower nor any of its Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval
required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental
Liability. 
 Section 3.17 Intellectual Property. 

Each Credit Party owns, is licensed to use or otherwise has the right to use, all Intellectual Property that is material to the condition
(financial or other), business or operations of such Credit Party. To the Borrower’s knowledge, each Credit Party conducts its business without infringement or claim of infringement of any Intellectual Property rights of others and there is no
infringement or claim of infringement by others of any Intellectual Property rights of any Credit Party, which infringement or claim of infringement could reasonably be expected to have a Material Adverse Effect. 

Section 3.18 Bankruptcy Orders. 

(a) On and after the entry of the Interim Financing Order and prior to the entry of the Final DIP Order, the Interim Financing Order is in full
force and effect, and has not been reversed, vacated, stayed or modified, and on and after the entry of the Final DIP Order, the Final DIP Order is in full force and effect, and has not been reversed, vacated, stayed or modified, in each case,
without the prior written consent of the Lead Lenders. 
 (b) No order has been entered in the Chapter 11 Cases (i) for the
appointment of a Chapter 11 trustee, (ii) for the appointment of an examiner with enlarged powers (beyond those set forth in Sections 1106(a)(3) and (4) of the Bankruptcy Code) under Section 1106(b) of the Bankruptcy Code or
(iii) to convert any Chapter 11 Case to a case under Chapter 7 of the Bankruptcy Code or to dismiss any Chapter 11 Case, in each case, without the prior written consent of the Lead Lenders. 

  
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 Section 3.19 Full Disclosure. 

None of the written information (financial or otherwise) furnished by or on behalf of any Credit Party to the Administrative Agent or any
Lender in connection with the consummation of the transactions contemplated by the Financing Documents (excluding projections, estimates, and engineering reports), taken as a whole, contains any untrue statement of a material fact or omits to state
a material fact necessary to make the statements contained herein or therein not misleading on the date such information is dated or certified in light of the circumstances under which such statements were made. To the best knowledge of the
Borrower, the engineering reports delivered to the Administrative Agent and/or the Lenders in connection with this Agreement do not contain any material inaccuracies and/or omissions. The said engineering reports, however, are based upon
professional opinions, estimates and projections and the Borrower does not warrant that such opinions, estimates and projections will ultimately prove to have been accurate. All other financial projections and estimates delivered to the
Administrative Agent and the Lenders have been prepared on the basis of the assumptions stated therein. Such projections and estimates represent as of such time the Borrower’s best estimate of the Borrower’s future financial performance
and such assumptions were as of such time believed by the Borrower to be fair and reasonable in light of then current business conditions; provided that the Borrower can give no assurance that such projections will be attained. 

Section 3.20 Reserve Reports, Imbalances and Marketing Matters. 

(a) Except as set forth on Schedule 3.20, the Borrower and each Guarantor has Defensible Title to each Mortgaged Property having a
book cost in excess of $2,000,000 (except to the extent that (1) such assets have thereafter been disposed of in compliance with this Agreement or (2) leases for such property have expired pursuant to their terms), in each case free and
clear of all Liens, except (i) Permitted Liens, (ii) obligations or duties to any municipality or public authority with respect to any franchise, grant, license or permit and all applicable laws, rules, regulations and orders of any
Governmental Authority, (iii) all lessors’ royalties, overriding royalties, net profits interests, production payments, carried interests, reversionary interests and other burdens on or deductions from the proceeds of production,
(iv) the terms and conditions of joint operating agreements and other oil and gas contracts, (v) all rights to consent by required notices to, and filing with or other actions by governmental or tribal entities, if any, in connection with
the change of ownership or control of an interest in federal, state, tribal or other domestic governmental oil and gas leases, if the same are customarily obtained in connection with such change of ownership or control, but only insofar as such
consents, notices, filings and other actions relate to the transactions permitted by this Agreement, (vi) any preferential purchase rights, (vii) required third party consents to assignment, (viii) conventional rights of reassignment
prior to abandonment and (ix) the terms and provisions of oil and gas leases, unit agreements, pooling agreements, and other documents creating interests comprising the Oil and Gas Properties, Hydrocarbons and Hydrocarbon Interests;
provided, however, the exceptions described in clauses (i) through (viii) inclusive above are qualified to include only those exceptions in each case which do not operate to (A) materially reduce the net revenue interest
of the Borrower or any Guarantor below that set forth in the Reserve Report, (B) materially increase the proportionate share of costs and expenses of leasehold operations attributable to or to be borne by the working interest of the Borrower or
any Guarantor above that set forth in the Reserve Report without a proportionate increase in the net revenue interest of the Borrower or such Guarantor or (C) materially increase the working interest of the Borrower or any Guarantor above that
set forth in the Reserve Report without a proportionate increase in the net revenue interest of the Borrower or such Guarantor, and provided further that the foregoing defects, limitations, liens and encumbrances, whether individually
material or not, do not in the aggregate create a Material Adverse Effect (the categories of exceptions in clauses (i) through (ix), as so qualified and as any such exceptions may exist from time to time, being referred to as the
“Designated Title Exceptions”). 

  
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 (b) After giving full effect to the Permitted Liens, except as set forth on
Schedule 5.2, the Credit Parties own the net interests in production attributable to the wells and units evaluated in the Initial Reserve Report or the most recent Reserve Report furnished to the Lenders pursuant to Section 4.1(i)
or (j), as applicable, or except to the extent that (i) such assets have thereafter been disposed of incompliance with this Agreement or (ii) leases for such property have expired pursuant to their terms. Except as provided in
paragraph (a) above, the ownership of such Oil and Gas Properties shall not in any material respect obligate the Credit Parties to bear the costs and expenses relating to the maintenance, development and operations of each such Oil and Gas
Property in any amount materially in excess of the working interest of each Oil and Gas Property set forth in the Initial Reserve Report or the most recent Reserve Report furnished to the Lenders pursuant to Section 4.1(i) or (j), as
applicable. The Credit Parties have paid all royalties payable under the oil and gas leases to which they are operator, except those not yet due or contested in accordance with the terms of the applicable joint operating agreement or otherwise
contested in good faith by appropriate proceedings or where failure to so pay could not reasonably be expected to have a Material Adverse Effect. Upon the delivery of each Reserve Report furnished to the Lenders pursuant to Section 4.1(i) or
(j) as applicable, the statements made in the preceding sentences of this section shall, as of the date of such Reserve Report, be true in all material respects with respect to such Reserve Reports. 

Section 3.21 Maintenance and Development of Properties. 

Except as set forth on Schedule 3.21, as of the effective date of each Reserve Report with respect to the Oil and Gas Properties
reflected in such Reserve Report, the Oil and Gas Properties (and all properties unitized therewith) are being maintained, operated and developed in a good and workmanlike manner, in accordance with prudent industry standards and in conformity with
(i) all applicable Laws, (ii) all oil, gas or other mineral leases and other contracts and agreements forming a part of such Oil and Gas Properties and (iii) with any Permitted Liens burdening such Oil and Gas Properties, except to
the extent the failure to so comply would not reasonably be expected to have a Material Adverse Effect. Except as set forth on Schedule 3.16, each Credit Party has all governmental licenses and permits necessary or appropriate to own and
operate the Oil and Gas Properties, except where a failure to have such licenses or permits could not reasonably be expected to have a Material Adverse Effect, and no Credit Party has received notice of any violations in respect of any such licenses
or permits which violation could reasonably be expected to have a Material Adverse Effect. 
 Section 3.22 Security
Documents. 
 Subject to the entry of the DIP Orders and subject to any restrictions arising on account of the Borrower’s or any
Subsidiary’s status as a “debtor” under the Bankruptcy Code, the Security Documents are effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest
in the Collateral described therein and proceeds thereof. When stock certificates representing Collateral are delivered to the Administrative Agent (together with a properly completed and signed stock power or endorsement), and in the case of the
other Collateral (other than the Mortgages described below), when financing statements are filed in the appropriate offices, the Security Documents shall constitute a fully perfected Lien on, and security interest in, all right, title and

  
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interest of the Credit Parties in such Collateral (to the extent such Collateral can be perfected by the actions described above) and the proceeds thereof, as security for the DIP Obligations, in
each case prior and superior in right to any other Person (subject only to Permitted Liens). Each of the Mortgages is effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable
Lien on the Mortgaged Properties described therein and proceeds thereof, and when the Mortgages are filed in the appropriate offices, each such Mortgage shall constitute a fully perfected Lien on, and security interest in, all right, title and
interest of the Credit Parties in the Mortgaged Properties and the proceeds thereof, as security for the DIP Obligations, in each case prior and superior in right to any other Person (subject only to Permitted Liens). 

ARTICLE 4 
 AFFIRMATIVE
COVENANTS 
 The Borrower agrees that: 

Section 4.1 Financial Statements and Other Reports. 

The Borrower will maintain and will cause each Credit Party to maintain a system of accounting established and administered in accordance with
sound business practices to permit preparation of financial statements in accordance with GAAP and to provide the information required to be delivered to the Administrative Agent and the Lenders hereunder, and will deliver to the Administrative
Agent and each Lender, upon such Lender’s request, it being understood that certain Lenders may elect not to receive any material non-public information of the Borrower, all of the following deliveries: 

(a) Quarterly Financial Statements. As soon as practicable and in any event within forty-five (45) days after the end of the each
Fiscal Quarter, a consolidated balance sheet of the Borrower and its Consolidated Subsidiaries as of and at the end of such quarter and the related consolidated statements of operations and cash flows for such quarter, and for the portion of the
Fiscal Year ended at the end of such quarter, setting forth in each case in comparative form the figures for the corresponding periods of the previous Fiscal Year and the figures for such quarter and for such portion of the Fiscal Year ended at the
end of such quarter, all in reasonable detail and certified by a Responsible Officer as fairly presenting in all material respects the financial condition and results of operations of the Borrower and its Consolidated Subsidiaries and as having been
prepared in accordance with GAAP applied on a basis consistent with the audited financial statements of the Borrower, subject to changes resulting from audit and normal year-end adjustments and the absence of footnote disclosures. 

(b) Annual Financial Statements. As soon as available and in any event within ninety (90) days after the end of each Fiscal Year,
an audited consolidated balance sheet of the Borrower and its Consolidated Subsidiaries as of the end of such Fiscal Year and the related audited consolidated statements of operations, stockholders’ equity (or the comparable item, if the
Borrower is not a corporation) and cash flows for such Fiscal Year, setting forth in each case in comparative form the figures for the previous Fiscal Year, reported on without qualification (including with respect to the scope of audit, but
excluding any “going concern” qualification) or exception arising out of the scope of audit, audited by independent public accountants of nationally recognized standing and reasonably acceptable to the Lead Lenders. 

  
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 (c) Compliance Certificates. Together with each delivery of financial statements pursuant
to Sections 4.1(a) and 4.1(b), (A) a Compliance Certificate and (B) if the Borrower is no longer subject to the public reporting requirements under the rules of the Securities and Exchange Commission, a management report
(x) describing the operations and financial condition of the Borrower and its Consolidated Subsidiaries for the fiscal period covered by such financial statements and the portion of the current Fiscal Year then elapsed (or for the Fiscal Year
then ended in the case of year-end financials) and (y) discussing the reasons for any significant variations as between the fiscal period covered and the portion of the Fiscal Year then elapsed, as between such periods and the same periods
during the immediately preceding Fiscal Year, and as between such periods and the same periods included in the projections and forecasts delivered pursuant to Section 4.1(h), all such information to be presented in reasonable detail and to be
certified by a Responsible Officer to the effect that such information fairly presents, in all material respects, the results of operations and financial condition of the Borrower and its Consolidated Subsidiaries as at the dates and for the periods
indicated. 
 (d) Regulatory Filing Information. Promptly upon their becoming publicly available, copies of (i) all financial
statements, reports, notices and proxy statements sent or made available generally by any Credit Party to its security holders, (ii) all regular and periodic reports and all registration statements and prospectuses filed by any Credit Party
with any securities exchange or with the Securities and Exchange Commission or any successor, (iii) all press releases and other statements made available generally by any Credit Party concerning material developments in the business of any
Credit Party and (iv) all Swap Contracts entered into by any Credit Party. 
 (e) Notices of Material Events. Promptly upon any
Responsible Officer of any Credit Party obtaining knowledge of (i) the existence of any Event of Default or Default, or becoming aware that the holder of any Debt of any Credit Party in excess of $2,500,000 has given any notice or taken any
other action with respect to a claimed default thereunder, (ii) the institution of any Litigation seeking equitable relief or involving an alleged liability of any Credit Party equal to or greater than $2,500,000 above insurance coverage or any
adverse determination in any Litigation involving equitable relief or a potential liability of any Credit Party equal to or greater than $2,500,000 above insurance coverage, (iii) the institution of any dispute, litigation, investigation,
proceeding or suspension by any Governmental Authority in respect of any Credit Party or any property of any Credit Party that, if adversely determined, could reasonably be expected to have a Material Adverse Effect, (iv) any loss, damage or
destruction of any Collateral having a fair market value in excess of $2,500,000, regardless of whether covered by insurance, or (v) any other development that results in or could reasonably be expected to have a Material Adverse Effect, a
certificate of a Responsible Officer specifying the nature and period of existence of any such condition or event, or specifying the notice given or action taken by such holder or Person and the nature of such claimed default (including any Event of
Default or Default), event or condition, and what action the applicable Credit Party has taken, is taking or proposes to take with respect thereto. 

(f) ERISA Notices. The Borrower or an ERISA Affiliate shall provide, promptly following receipt thereof, copies of any documents
described in Sections 101(k) or 101(l) of ERISA that the Borrower or any ERISA Affiliate may request with respect to any Multiemployer Plan or any documents described in Section 101(f) of ERISA that the Borrower or any ERISA Affiliate may
request with respect to any Plan; provided, that if the relevant Borrower or ERISA Affiliates have not requested such documents or notices from the administrator or sponsor of the 

  
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applicable Multiemployer Plans, then, upon reasonable request of the Administrative Agent, such Borrower or the ERISA Affiliate shall promptly make a request for such documents or notices from
such administrator or sponsor and the Borrower shall provide copies of such documents and notices to the Administrative Agent promptly after receipt thereof. 

(g) Environmental Notices. Promptly upon any Responsible Officer of any Credit Party obtaining knowledge of any written complaint,
order, citation, notice or other written communication from any Person delivered to any Credit Party with respect to, or if any Responsible Officer of any Credit Party becomes aware of (i) the existence or alleged existence of a violation by
any Credit Party of any applicable Environmental Law, which could reasonably be expected to have a Material Adverse Effect, (ii) any release by any Credit Party of any Hazardous Materials into the environment which could reasonably be expected
to have a Material Adverse Effect, (iii) the commencement by any Credit Party of any cleanup of any Hazardous Materials, which could reasonably be expected to result in costs to a Credit Party in excess of $2,500,000 above insurance coverage,
(iv) any pending legislative or threatened governmental proceeding for the termination, suspension or non-renewal of any Permit of any Credit Party required under any applicable Environmental Law, which termination, suspension or non-renewal
could reasonably be expected to have a Material Adverse Effect, or (v) any property of any Credit Party that is or will be subject to a Lien imposed pursuant to any Environmental Law, a certificate of a Responsible Officer specifying the nature
and period of existence of any such condition or event, or specifying the notice given or action taken by such holder or Person, and what action the applicable Credit Party has taken, is taking or proposes to take with respect thereto. 

(h) Budget. Within sixty (60) days after the conclusion of each Fiscal Year, the Borrower’s annual operating and capital
expenditure budgets, and financial forecasts, including cash flow projections covering proposed fundings, repayments, additional advances, investments and other cash receipts and disbursements, each for the following Fiscal Year in a format
reasonably consistent with projections, budgets and forecasts theretofore provided to Lenders, and promptly following the preparation thereof, material updates to any of the foregoing from time to time prepared by management of the Borrower. 

(i) Annual Reserve Report. Prior to April 1 of each year, commencing the first such day after the Closing Date, a Reserve Report
effective as of December 31 of the preceding year, prepared by independent petroleum engineers chosen by the Borrower and reasonably acceptable to the Lead Lenders, concerning all Oil and Gas Properties owned by any Credit Party that are
located in the United States and that have attributable to them Proved Reserves. The report shall (i) be in form reasonably satisfactory to the Lead Lenders, (ii) take into account any “over-produced” status under gas balancing
arrangements, (iii) contain information and analysis sufficient to enable the Borrower to meet the reporting requirements concerning oil and gas reserves contained in Regulations S-K and S-X promulgated by the Securities and Exchange Commission
and (iv) distinguish (or be delivered together with a certificate from an appropriate officer of the Borrower that distinguishes) those Oil and Gas Properties treated in the report that are Collateral from those Oil and Gas Properties in the
report that are not, which report shall be accompanied by a report detailing the Swap Contracts of the Credit Parties relating to commodity prices that are then currently in effect. 

  
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 (j) Interim Reserve Report. (i) Prior to October 1 of each year, commencing the
first such day after the Closing Date, a Reserve Report effective as of the preceding June 30 by petroleum engineers who are employees of the Borrower (or, at the Borrower’s option, by independent engineers as specified above), in the same
form and scope as the report in Section 4.1(i), which report shall be accompanied by updates, if any, to the most recent reports specified in Section 4.1(i) to the extent necessary for such reports to be accurate in all material respects
on the date of the applicable Reserve Report provided pursuant to this Section 4.1(j). 
 (k) Reserve Documents. At the time of
delivery of any report pursuant to Section 4.1(i) or (j): (i) a report detailing by lease or unit the gross volume of production and sales attributable to production of Hydrocarbons from the Oil and Gas Properties described in the most
recent Reserve Report for the month most recently available and for each prior month since the last report delivered pursuant to this subsection and describing the related severance taxes, other taxes, and leasehold operating expenses attributable
to each lease or unit and incurred during each such month, (ii) a list of Persons purchasing any material production of Hydrocarbons from the Oil and Gas Properties, and (iii) such other reports, data and supplemental information necessary
to cause the representations and warranties contained in Section 3.20 and Section 3.21 to be true and correct and such other information as may be reasonably requested by the Administrative Agent or the Lead Lenders (the Reserve Report,
such certificate and such reports, data and supplemental information, the “Reserve Documents”). 
 (l) Swap
Contracts. Together with each delivery of financial statements pursuant to Sections 4.1(a) and 4.1(b), a report detailing the Swap Contracts of the Credit Parties relating to commodity prices that are then currently in effect. 

(m) Credit Party Information. With reasonable promptness, such other information and data with respect to any Credit Party as from time
to time may be reasonably requested by the Administrative Agent or any Lender. 
 (n) Prepetition Second Lien Credit Agreement. Any
amendment, or modification or waiver of the Prepetition Second Lien Credit Agreement. 
 (o) Monthly Financial Statements. As soon as
practicable and in any event within twenty-five (25) days after the end of each calendar month (or such later date as the Administrative Agent and the Lead Lenders shall reasonably agree in their sole discretion), a consolidated balance sheet
of the Borrower and its Consolidated Subsidiaries as of and at the end of such month and the related consolidated statements of operations and cash flows for such month, and for the portion of the Fiscal Year ended at the end of such month setting
forth in each case in, all in reasonable detail and certified by a Responsible Officer as fairly presenting in all material respects the financial condition and results of operations of the Borrower and its Consolidated Subsidiaries and as having
been prepared in accordance with GAAP applied on a basis consistent with the audited financial statements of the Borrower, subject to changes resulting from audit and normal year-end adjustments and the absence of footnote disclosures. 

(p) Telephone Conferences. The Borrower shall participate in telephone conferences with the Prepetition First Lien Agent and the
Administrative Agent and their respective professionals no less than once per week and more frequently during normal business hours as requested by the Prepetition First Lien Agent and Administrative Agent (or their respective professionals) in
writing (including via electronic mail) upon at least one (1) Business Day’s notice. 

  
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 (q) Budget and Variance Report. As soon as available and in any event (i) on the
fourth Business Day of each fourth week, commencing with June 9, 2016, a 13-Week Budget, in form and substance reasonably acceptable to the Lead Lenders and the Administrative Agent (such budget, together with the Initial Budget, the
“Budget”), which shall reflect the Borrower’s good-faith projection of all weekly cash receipts and disbursements in connection with the operation of the Credit Parties’ and their respective Subsidiaries’ business
during such thirteen-week period, including but not limited to, (x) the ad valorem, severance and production taxes and lease operating expenses attributable to Oil and Gas Properties and incurred for such thirteen-week period (including
transportation, gathering and marketing costs) and all categories of applicable expenses, and (y) other capital expenditures, collections, payroll, and other material cash outlays, and (ii) on the fourth Business Day of each week,
commencing with June 23, 2016, a variance report (a “Variance Report”), in form and substance consistent with the format of the form of Initial Budget set forth in Exhibit I and reasonably acceptable to the
Lead Lenders, detailing the following: (A) the aggregate Receipts of the Borrower and its Subsidiaries during the Testing Period and the aggregate Operating Disbursements and other disbursements, in each case made by the Borrower and its
Subsidiaries during such Testing Period; and (B) any variance (whether plus or minus and expressed as a percentage) (1) between the aggregate Receipts of the Borrower and its Subsidiaries during such Testing Period against the aggregate
Receipts set forth in the most recently delivered Budget for such Testing Period (excluding in each case, any joint interest Receipts) and (2) between the aggregate Operating Disbursements made during such Testing Period by the Borrower and its
Subsidiaries against the aggregate Operating Disbursements set forth in the most recently delivered Budget for such Testing Period. For purposes of the foregoing, the “Testing Date” shall mean the last Business Day of every week
occurring after the Closing Date, which initial Testing Date shall be on June 17, 2016. 
 (r) Motions and Pleadings. The
Borrower shall deliver to the Administrative Agent and the Lead Lenders and give the Administrative Agent and the Lead Lenders the opportunity to comment on all motions, pleadings, statements, applications, notices and other documents to be filed by
the Debtors in the Chapter 11 Cases no less than two (2) Business Days prior to filing (or, if not reasonably practicable, as soon as practicable under the circumstances). 

(s) Adverse Motions. The Borrower shall contest, if requested by the Administrative Agent or the Lead Lenders, any motion seeking entry
of an order, and entry of an order, that is materially adverse to the interests of the Administrative Agent or the Lenders or their respective material rights and remedies under the DIP Facility. 

(t) Updates. The Borrower shall deliver to the Administrative Agent and the Lenders bi-weekly updates with respect to asset sales and
periodic updates on other matters reasonably requested by the Administrative Agent and the Required Lenders. 
 (u) Plans and Disclosure
Statements. The Borrower shall deliver to the Administrative Agent and the Lenders and their legal counsel, as soon as practicable in advance of filing with the Bankruptcy Court, any plan of reorganization or liquidation and/or any disclosure
statement related to such plan (each of which must be in form and substance satisfactory to the Administrative Agent and the Required Lenders). 

(v) Final Order. The Borrower shall deliver to the Administrative Agent and the Lenders and their counsel, as soon as practicable in
advance of filing with the Bankruptcy Court, the proposed form of Final DIP Order (which must be in form and substance satisfactory to the Administrative Agent and the Required Lenders) and all other proposed material orders and pleadings related to
the DIP Facilities (which must be in form and substance satisfactory to the Administrative Agent and the Required Lenders). 

  
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 Documents required to be delivered pursuant to Section 4.1(a), Section 4.1(b) or
Section 4.1(e) (to the extent any such documents are included in materials otherwise filed with the Securities and Exchange Commission) may be delivered electronically and, if so delivered, shall be deemed to have been delivered on the date
(i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at http://www.warrenresources.com; or (ii) on which such documents are posted on the Borrower’s behalf on an
Internet or intranet website reasonably acceptable to the Administrative Agent and the Lead Lenders to which each Lender and the Administrative Agent have access; provided that the Borrower shall notify the Administrative Agent and each
Lender (by telecopier or electronic mail) of the posting of any such documents, and the Borrower shall provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents; notwithstanding anything
contained herein, in every instance the Borrower shall be required to provide paper copies of the compliance certificate required by Section 4.1(c) to the Administrative Agent, which shall then promptly furnish such compliance certificate to
the Lenders. Except for such compliance certificates, the Administrative Agent shall have no obligation to request the delivery of copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the
Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

Section 4.2 Payment and Performance of DIP Obligations. 

The Borrower (i) will pay and discharge, and cause each other Credit Party to pay and discharge, at or before maturity, all of their
respective obligations and liabilities, including tax liabilities, except for such obligations and/or liabilities (A) that may be the subject of a Permitted Contest and (B) the nonpayment or nondischarge of which could not reasonably be
expected to have a Material Adverse Effect, (ii) will maintain, and cause each other Credit Party to maintain, in accordance with GAAP, appropriate reserves for the accrual of all of their respective obligations and liabilities and
(iii) will not breach or permit any other Credit Party to breach, or permit to exist any default under, the terms of any lease, commitment, contract, instrument or obligation to which it is a party, or by which its properties or assets are
bound, except for such breaches or defaults which could not reasonably be expected to have a Material Adverse Effect. 

Section 4.3 Maintenance of Existence. 

The Borrower will, and will cause each of its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full
force and effect (a) its legal existence and (b) except where the failure to do so could not reasonably be expected to result in a Material Adverse Effect, the rights, licenses, permits, privileges and franchises material to the conduct of
its business; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 5.17. 

  
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 Section 4.4 Maintenance of Property; Insurance. 

(a) Maintenance of Property and Insurance. The Borrower will, and will cause each of its Subsidiaries to, (i) keep and maintain all
operating equipment material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and (ii) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against
such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations. All such insurance shall be provided by insurers having an A.M. Best policyholders rating reasonably
acceptable to the Lead Lenders. The Borrower will not, and will not permit any other Credit Party to, bring or keep any article on any business location of any Credit Party, or cause or allow any condition to exist, if the presence of such article
or the occurrence of such condition could reasonably cause the invalidation of any insurance required by this Section 4.4(a), or would otherwise be prohibited by the terms thereof. 

(b) Evidence of Insurance Coverage. On or prior to the Closing Date, and at all times thereafter, the Borrower will cause the
Administrative Agent to be named as an additional insured and loss payee (which shall include, as applicable, identification as mortgagee), as applicable, on each insurance policy required to be maintained pursuant to this Section 4.4 pursuant
to endorsements in form and substance reasonably acceptable to the Lead Lenders. The Borrower will deliver to the Administrative Agent and the Lenders (i) on the Closing Date, a certificate from the Borrower’s insurance broker dated such
date showing the amount of coverage as of such date, and that such policies will include effective waivers of applicable rights of subrogation against loss payees and additional insureds, and that if all or any part of such policy is canceled,
terminated or expires, the insurer will endeavor to give notice thereof to each additional insured and loss payee at least thirty (30) days prior thereto, (ii) on an annual basis, and upon the request of any Lender through the
Administrative Agent from time to time, full information as to the insurance carried, (iii) within five (5) Business Days of receipt of notice from any insurer, a copy of any notice of cancellation, nonrenewal or material change in
coverage from that existing on the date of this Agreement and (iv) forthwith, notice of any cancellation or nonrenewal of coverage by the Borrower. 

(c) Right to Purchase Insurance. In the event the Borrower fails to provide the Administrative Agent with evidence of the insurance
coverage required by this Agreement within three (3) Business Days after request therefor, the Administrative Agent may after twenty (20) days’ notice to the Borrower, purchase insurance at the Borrower’s expense to protect the
Administrative Agent’s interests in the Collateral. This insurance may, but need not, protect the Borrower’s interests. The coverage purchased by the Administrative Agent may not pay any claim made by the Borrower or any claim that is made
against the Borrower in connection with the Collateral. The Borrower may later cancel any insurance purchased by the Administrative Agent, but only after providing the Administrative Agent with evidence that the Borrower has obtained insurance as
required by this Agreement. If the Administrative Agent purchases insurance for the Collateral, the Borrower will be responsible for the costs of that insurance to the fullest extent provided by Law, including interest and other charges imposed by
the Administrative Agent in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to the DIP Obligations. The costs of the insurance may
be more than the cost of insurance that the Borrower is able to obtain on its own. 

  
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 Section 4.5 Compliance with Laws. 

The Borrower will comply, and cause each other Credit Party to comply, with the requirements of all applicable Laws, except to the extent that
failure to so comply could not reasonably be expected to have a Material Adverse Effect or result in any Lien upon a material portion of the assets of any such Person in favor of any Governmental Authority. 

Section 4.6 Inspection of Property, Books and Records. 

The Borrower will keep, and will cause each other Credit Party to keep, proper books of record and account in accordance with GAAP; and will
permit, and will cause each other Credit Party to permit, at the sole cost of the Borrower or any applicable other Credit Party, representatives of the Administrative Agent and of any Lender (but at such Lender’s expense unless such visit or
inspection is made concurrently with the Administrative Agent) or is made during the existence and continuance of an Event of Default to visit and inspect any of their respective properties, to examine and make abstracts or copies from any of their
respective books and records, to conduct a collateral audit and analysis of their respective inventory and accounts and to discuss their respective affairs, finances and accounts with their respective officers, as often as may reasonably be desired,
subject in all cases to any confidentiality restrictions that may be applicable to the Borrower and its Subsidiaries and to any confidentiality restrictions that the Borrower reasonably imposes on the Persons receiving such information;
provided, however, that neither the Borrower nor any of its Subsidiaries shall be required to disclose to the Administrative Agent or any agents or representatives thereof any information that is the subject of attorney-client
privilege or attorney’s work product privilege properly asserted by the applicable Person to prevent the loss of such privilege in connection with such information; and provided, further, that the Borrower will use commercially
reasonable efforts to furnish such information (excluding information covered by confidentiality restrictions in agreements relating to seismic, geologic or geophysical data or similar technical and business matters relating to the exploration for
oil and gas), which requirement shall be satisfied if the Administrative Agent is offered the opportunity to review such confidential information by executing or otherwise becoming a party to the confidentiality restrictions on substantially the
same terms (including any standstill provisions) as are applicable to the Borrower. In the absence of an Event of Default, the Administrative Agent or any Lender exercising any rights pursuant to this Section 4.6 shall give the Borrower or any
other applicable Credit Party commercially reasonable prior written notice of such exercise. No notice shall be required during the existence and continuance of any Event of Default. 

Section 4.7 Use of Proceeds. 

(a) The proceeds of the Loans will be used by the Borrower only for the following purposes: (i) to pay certain costs, fees and expenses
related to the Chapter 11 Cases, including without limitation any Professional Fees, (ii) to pay Adequate Protection Payments and (iii) to fund the working capital needs, capital improvements and expenditures of the Credit Parties
during the Chapter 11 Cases. 
 (b) The proceeds of the Loans shall be applied by the Borrower for uses solely to the extent that any
such application of proceeds shall be in compliance with the covenant set forth in Section 5.26, including the Permitted Variances. 

  
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 (c) The proceeds of the Loans shall not be used (i) to permit the Borrower, any Guarantor or
any of their representatives to challenge or otherwise contest or institute any proceeding to determine (x) the validity, perfection or priority of security interests in favor of any of the Lenders or the Prepetition First Lien Lenders, or
(y) the enforceability of the obligations of the Borrower or any Guarantor under this Agreement or the Prepetition First Lien Credit Agreement, (ii) to investigate, commence, prosecute or defend any claim, motion, proceeding or cause of
action against any of the Lenders or the Prepetition First Lien Secured Parties, each in such capacity, and their respective agents, attorneys, advisors or representatives, including, without limitation, any lender liability claims or subordination
claims, or (iii) to fund acquisitions, capital expenditures, capital leases, or any other expenditure other than as set forth in the Budget or the Carve Out. 

(d) No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the
regulations of the Federal Reserve Board, including Regulations T, U and X. 
 Section 4.8 Lenders’
Meetings. 
 Promptly after the delivery to the Administrative Agent and the Lenders of Reserve Reports pursuant to
Section 4.1(i) or Section 4.1(j), the Borrower will, in each case to the extent reasonably requested by either the Administrative Agent or the Lead Lenders, conduct a meeting of the Administrative Agent and the Lenders to discuss the most
recently reported financial results and the financial condition and engineering projections of the Borrower and its Subsidiaries, at which shall be present a Responsible Officer and such other officers of the Credit Parties as may be reasonably
requested to attend by the Administrative Agent or the Lead Lenders, such request or requests to be made within a reasonable time prior to the scheduled date of such meeting. Such meetings shall be held at a time and place convenient to the Lenders
and to the Borrower. 
 Section 4.9 Hazardous Materials; Remediation. 

If any release or disposal of Hazardous Materials shall occur or shall have occurred on any real property or any other assets of the Borrower
or any other Credit Party, which could reasonably be expected to have a Material Adverse Effect, the Borrower will cause, or direct the applicable Credit Party to cause, the prompt containment and removal of such Hazardous Materials and the
remediation of such real property or other assets as is necessary to comply with all Environmental Laws and to preserve the value of such real property or other assets. Without limiting the generality of the foregoing, the Borrower shall, and shall
cause each other Credit Party to, comply with each Environmental Law requiring the performance at any real property by the Borrower or any other Credit Party of activities in response to the release or threatened release of a Hazardous Material,
except where the failure to so comply could not reasonably be expected to have a Material Adverse Effect. 
 Section 4.10
Further Assurances. 
 (a) General. The Borrower will, and will cause each other Credit Party, at its own cost and
expense, to promptly and duly take, execute, acknowledge and deliver all such further acts, documents and assurances as the Administrative Agent or the Lead Lenders may from time to time reasonably request in order to carry out the intent and
purposes of the Financing 

  
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Documents and the transactions contemplated thereby, including all such actions to establish, create, preserve, protect and perfect a first priority Lien (subject only to Permitted Liens) in
favor of the Administrative Agent for the benefit of the Secured Parties on the Collateral (including Collateral acquired after the date hereof), including on any and all assets of each Credit Party, whether now owned or hereafter acquired.
Notwithstanding anything in this Agreement or any Security Document to the contrary, no Guarantor shall be required to guarantee (or grant a Lien to support, as applicable) any Excluded Swap Obligations of such Guarantor for purposes of determining
any obligations of such Guarantor. 
 (b) New Subsidiaries. Without limiting the generality of the foregoing, in the event the
Borrower or any of its Subsidiaries shall form any new Subsidiary after the date hereof, the Borrower or the respective Subsidiary will cause such new Subsidiary, within five (5) Business Days following such formation, (i) to execute a
Guarantee (in form and substance reasonably acceptable to the Administrative Agent and the Lead Lenders) guaranteeing payment and performance of all of the DIP Obligations and to execute a joinder to the Security Agreement and to take such other
action (including, without limitation, authorizing the filing of such UCC financing statements and delivering certificates in respect of the Capital Stock of such Subsidiary) as shall be necessary or appropriate to establish, create, preserve,
protect and perfect a first priority Lien (subject only to Permitted Liens) in favor of the Administrative Agent for the benefit of the Secured Parties to the extent required by Section 4.10(e), (ii) to execute such other Security
Documents and Collateral Documents, in form and substance reasonably acceptable to the Administrative Agent and the Lead Lenders, as may be required or requested by the Administrative Agent and the Lead Lenders in connection with the actions
contemplated hereby and (iii) to deliver such proof of corporate (or comparable) action, incumbency of officers, opinions of counsel and other documents as the Administrative Agent and the Lead Lenders shall have reasonably required or
requested. 
 (c) Capital Stock. The Borrower will, and will cause each of its Subsidiaries, to take such action from time to time as
shall be necessary to ensure that each of its Subsidiaries is a Wholly-Owned Subsidiary and that the Administrative Agent shall have, for the benefit of the Secured Parties, a first priority Lien on all Capital Stock of each Subsidiary. Subject to
the foregoing limitations, in the event that any additional Capital Stock shall be issued by any Subsidiary, the Borrower shall or shall cause each of its Subsidiaries to, promptly following such issuance, deliver to the Administrative Agent, to the
extent required by the applicable Financing Documents, the certificates evidencing such Capital Stock, accompanied by undated powers executed in blank and to take such other action as the Administrative Agent shall request to perfect the security
interest created therein pursuant to such Financing Documents. 
 (d) Mortgage of Oil and Gas Property. Prior to March 1 and
September 1 of each calendar year, the Borrower shall review the Reserve Report and the list of current Mortgaged Properties to ascertain whether the Mortgaged Properties represent substantially all (but in any event at least 95%) of the total PV-10 Value of Proved Reserves attributable to the Oil and Gas Properties evaluated in the most recently completed Reserve Report after giving effect to any exploration and production activities, acquisitions,
dispositions and production. In the event that the Mortgaged Properties do not represent at least 95% of such total PV-10 Value, then on or prior to such March 1 or September 1, as applicable, the
Borrower shall, and shall cause its Subsidiaries to, grant to the Administrative Agent as security for the DIP Obligations a first-priority Lien (subject only to Permitted Liens) under the Mortgages on additional Oil and Gas

  
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Properties not already subject to such a Lien under the Mortgages such that after giving effect thereto, the Mortgaged Properties will represent at least 95% of the total PV-10 Value of Proved
Reserves attributable to the Oil and Gas Properties evaluated by the relevant Reserve Report. Notwithstanding the foregoing, it is understood and agreed that the Borrower shall use commercially reasonable efforts to ensure that the Mortgaged
Properties represent substantially all of the total PV-10 Value of Proved Reserves attributable to the Oil and Gas Properties evaluated in the most recently completed Reserve Report after giving effect to any exploration and production activities,
acquisitions, dispositions and production. 
 (e) Other Collateral. Upon the Administrative Agent’s request, the Borrower will,
and will cause its Subsidiaries to, grant Liens as security for the DIP Obligations on (i) assets and interests related to the Mortgaged Properties, including related operating equipment, accounts, inventory, contract rights and all products,
proceeds and other interests related to the ownership, operation and or production of the Mortgaged Properties and (ii) all other material facilities (including gathering, transportation, compression, processing, treating and storage
facilities) and other material real and personal property owned by it from time to time (excluding any Excluded Property (as defined in the Mortgages)); provided, further, that notwithstanding anything to the contrary, the Collateral
shall include any assets of the Debtors that were excluded from or did not constitute Collateral under the Prepetition First Lien Credit Agreement (including, without limitation, the Warren Energy Services Pipeline Assets). 

(f) Production Proceeds. Notwithstanding that by the terms of the Mortgages, the Credit Parties are and will be assigning to the
Administrative Agent for the benefit of the Secured Parties all of the “Production Proceeds” (as defined therein) accruing to the property covered thereby, so long as no Event of Default has occurred, the Credit Parties may continue
to receive from the purchasers of production all such Production Proceeds, subject, however, to the Liens created under the Mortgages. Upon the occurrence of an Event of Default, the Administrative Agent may exercise all rights and remedies granted
under the Mortgages, including the right to obtain possession of all Production Proceeds then held by the Credit Parties or to receive directly from the purchasers of production all other Production Proceeds. In no case shall any failure, whether
intentional or inadvertent, by the Administrative Agent or the Lenders to collect directly any such Production Proceeds constitute in any way a waiver, remission or release of any of their rights under the Security Documents, nor shall any release
of any Production Proceeds by the Administrative Agent or the Lenders to the Credit Parties constitute a waiver, remission, or release of any other Production Proceeds or of any rights of the Administrative Agent or the Lenders to collect other
Production Proceeds thereafter. 
 (g) Title Information. Promptly upon request of the Administrative Agent given at the direction of
the Required Lenders, the Borrower will deliver title information in form and substance reasonably acceptable to the Administrative Agent covering enough of the Oil and Gas Properties evaluated in the most recently delivered Reserve Report, so that
the Administrative Agent shall have received, together with title information previously delivered to the Administrative Agent in connection with previous Reserve Reports or otherwise, title information evidencing the Credit Parties have Defensible
Title on at least 70% of the total PV-10 value of Proved Reserves attributable to the Oil and Gas Properties evaluated by such Reserve Report. If the Borrower has provided title information for Oil and Gas Properties under the preceding sentence,
the Borrower shall, within sixty (60) days of notice from the Administrative Agent or the Lead Lenders that material title defects or exceptions exist with respect to such Oil 

  
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and Gas Properties such that the Credit Parties do not have Defensible Title to at least 70% of the PV-10 value of Proved Reserves attributable to the Oil and Gas Properties evaluated by such
Reserve Report, either (1) cure any such material title defects or exceptions (including defects or exceptions as to priority) raised by such information, (2) substitute acceptable Mortgaged Properties having at least an equivalent value
such that the Credit Parties do have Defensible Title to at least 70% of the PV-10 value of Proved Reserves attributable to the Oil and Gas Properties evaluated by such Reserve Report, or (3) deliver title information in form and substance
acceptable to the Administrative Agent or the Lead Lenders so that the Administrative Agent shall have received, together with title information previously delivered to the Administrative Agent, title information evidencing that the Credit Parties
have Defensible Title on at least 70% of the PV-10 value of Proved Reserves attributable to the Oil and Gas Properties evaluated by such Reserve Report. 

Section 4.11 Post-Closing Obligations. 

The Credit Parties will cause each obligation specified on Schedule 4.11 hereto to be completed no later than the date set forth
with respect to such obligations on such schedule, or such later date as the Administrative Agent and the Lead Lenders shall reasonably agree. 

Section 4.12 Production Report and Lease Operating Statements. 

Within sixty (60) days after the end of each calendar month, commencing with the calendar month ending May 31, 2016, the Borrower
shall deliver to the Administrative Agent and the Lead Lenders a report certified by a Responsible Officer setting forth, for each calendar month during the then current fiscal year to date, the volume of production and sales attributable to
production (and the prices at which such sales were made and the revenues derived from such sales) for each such calendar month from the Oil and Gas Properties, and setting forth the related ad valorem, severance and production taxes and lease
operating expenses attributable thereto and incurred for each such calendar month. 
 Section 4.13 Cash Management and Certain
Prepetition Obligations. 
 The Borrower and its Subsidiaries shall be permitted to maintain their cash management system as it
existed prior to the Petition Date for the benefit of the entire DIP Facility and to honor any prepetition obligations related to the use thereof, with such changes as may be required by an order of the Bankruptcy Court and/or as may be made with
the consent of the Administrative Agent and the Lead Lenders; provided that the Borrower and its Subsidiaries shall not be permitted to honor prepetition checks outstanding as of the Petition Date other than checks for prepetition payments
authorized by the Bankruptcy Court, including, for the avoidance of doubt, any payments authorized under the order granting the motion (if any) filed by the Credit Parties in the Chapter 11 Cases for authority to pay working interest
disbursements, royalty payments and similar payments and disbursements in the ordinary course of business, which shall be in form and substance satisfactory to the Required Lenders. 

Section 4.14 Contracts and Leases. 

Neither the Borrower nor any of its Subsidiaries shall, except as otherwise permitted pursuant to the DIP Orders, any Approved Plan or a motion
filed by or after consultation of the Administrative Agent and the Lead Lenders or a motion to assume the RSA, assume, assume and assign or reject any executory contract or unexpired lease not assumed, assumed and assigned or rejected on or before
the date hereof. 

  
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 Section 4.15 Milestones. 

The Credit Parties shall comply with and achieve each of the Milestones (as the same may be extended from time to time with the consent of the
Administrative Agent and the Lead Lenders). 
 ARTICLE 5 

NEGATIVE COVENANTS 
 Until
the Discharge of DIP Obligations, the Credit Parties covenant and agree with the Lenders that: 
 Section 5.1 Debt. 

The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, create, incur, assume, guarantee or otherwise
become or remain directly or indirectly liable with respect to, any Debt, except for: 
 (a) Debt incurred under the Financing Documents;

 (b) Debt outstanding on the date of this Agreement and set forth on Schedule 5.1, including, for the avoidance of doubt, Debt
outstanding under the Prepetition First Lien Credit Agreement and the Prepetition Second Lien Credit Agreement and the aggregate principal amount of the Prepetition Senior Notes, in each case, on the date of this Agreement; 

(c) Intercompany Debt arising from loans made by (i) the Borrower to any Guarantor, (ii) any Guarantor to the Borrower, or
(iii) any Guarantor to any other Guarantor; provided, however, that upon the request of the Administrative Agent at any time, any such Debt shall be evidenced by promissory notes having terms reasonably satisfactory to the
Administrative Agent and the Lead Lenders, and the sole originally executed counterparts of which shall be pledged and delivered to the Administrative Agent, for the benefit of the Secured Parties, as security for the DIP Obligations; 

(d) Guarantees by the Borrower of Debt of any Subsidiary permitted hereunder and by any Subsidiary of Debt of the Borrower or any other
Subsidiary permitted hereunder; 
 (e) Debt of the Borrower or any Subsidiary incurred to finance the acquisition, construction or
improvement of any fixed or capital assets, including Capital Lease Obligations and any Debt assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and extensions,
renewals and replacements of any such Debt that do not increase the outstanding principal amount thereof; provided that the aggregate principal amount of Debt permitted by this clause (e) shall not exceed $1,000,000 at any time
outstanding; 
 (f) Debt, if any, arising under Swap Contracts, to the extent permitted under Section 5.6; 

  
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 (g) [reserved]; 

(h) Debt of any Person that becomes a Subsidiary after the Closing Date; provided that such Debt exists at the time such Person becomes
a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary; 
 (i) [reserved]; 

(j) Debt incurred to finance the acquisition of equipment, provided that the amount of such Debt does not exceed the purchase price of
such equipment; 
 (k) [reserved]; 

(l) any Contingent Obligation permitted by Section 5.3; 

(m) Debt incurred pursuant to an Excluded Property Leaseback; 

(n) Debt incurred under Bonds; 

(o) Debt constituting letters of credit and bank guaranties, to the extent that such letters of credit and bank guaranties are fully cash
collateralized, in an aggregate principal amount not exceeding $2,000,000 at any time outstanding. 
 Section 5.2 Liens.

 The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, create, assume or suffer to exist any Lien
on any asset now owned or hereafter acquired by it, except: 
 (a) Liens created by the Security Documents; 

(b) Permitted Encumbrances; 
 (c)
any Lien on any property of the Borrower or any Subsidiary existing on the date hereof and set forth in Schedule 5.2; provided that (i) such Lien shall not apply to any other property of the Borrower or any Subsidiary and
(ii) such Lien shall secure only those obligations which it secures on the date hereof and extensions, renewals or replacements thereof that do not increase the outstanding principal amount thereof; 

(d) any Lien existing on any property (together with receivables, intangibles and proceeds thereof) prior to the acquisition thereof by the
Borrower or any Subsidiary or existing on any property of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary; provided that (i) such Lien is not created in contemplation of or in
connection with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property of the Borrower or any Subsidiary and (iii) such Lien shall secure only those obligations which
it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be and extensions, renewals or replacements thereof that do not increase the outstanding principal amount thereof; 

  
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 (e) Liens on fixed or capital assets (together with receivables, intangibles and proceeds
thereof) acquired, constructed or improved by the Borrower or any Subsidiary; provided that (i) such security interests secure Debt permitted by Section 5.1(e), (ii) such security interests and the Debt secured thereby are
incurred prior to or within 180 days after such acquisition or the completion of such construction or improvement, (iii) the Debt secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets
and (iv) such security interests shall not apply to any other property of the Borrower or any Subsidiary; 
 (f) Liens securing
obligations and liabilities of the Borrower and any Subsidiary under Swap Contracts with Eligible Swap Counterparties to the extent such Swap Contracts are permitted hereunder; 

(g) [reserved]; 
 (h) [reserved];

 (i) [reserved]; 
 (j) Liens
granted to secure letters of credit and bank guaranties permitted pursuant to Section 5.1(o) in an amount not to exceed the amount of Debt permitted under Section 5.1(o); 

(k) Prepetition Liens; 
 (l)
Adequate Protection Liens; 
 (m) Liens arising under the DIP Orders; and 

(n) any Non-Primed Excepted Liens. 

Section 5.3 Contingent Obligations. 

The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, create, assume, incur or suffer to exist any
Contingent Obligations, except for: 
 (a) Contingent Obligations arising in respect of the Debt under the Financing Documents; 

(b) Contingent Obligations resulting from endorsements for collection or deposit in the Ordinary Course of Business; 

(c) Contingent Obligations existing or arising under any Swap Contract, provided that (i) so long as there exists no Event of
Default both immediately before and immediately after giving effect to any such transaction and (ii) such obligations are (or were) entered into by the Borrower or another Credit Party in the Ordinary Course of Business for the purpose of
directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person and not for purposes of speculation; 

(d) Contingent Obligations outstanding on the date of this Agreement and set forth on Schedule 5.3 and Contingent Obligations with
respect to Debt permitted under Section 5.1; 

  
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 (e) Contingent Obligations incurred in the Ordinary Course of Business with respect to Bonds;

 (f) Contingent Obligations arising under indemnity agreements in connection with mortgagee title insurance policies; 

(g) Contingent Obligations arising with respect to customary indemnification obligations in favor of purchasers in connection with dispositions
permitted under Section 5.7; 
 (h) Contingent Obligations in favor of any of the Credit Parties; and 

(i) Contingent Obligations to the extent constituting a Permitted Lien. 

Section 5.4 Restricted Payments. 

The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, declare, order, pay, make or set apart any sum
for any Restricted Payment; provided that the foregoing shall not restrict or prohibit (a) dividends or distributions made by any Subsidiary, directly or indirectly, to the Borrower or to any Subsidiary that is a Wholly-Owned Subsidiary
of the Borrower and (b) dividends declared and paid by Subsidiaries ratably with respect to their Capital Stock (or on a basis more favorable to the Borrower and its Subsidiaries). The Borrower will not, and will not permit any other Credit
Party to, issue preferred Capital Stock providing for Restricted Payments not permitted by this Section 5.4. 
 Section 5.5
Restrictive Agreements. 
 The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, enter
into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or
assets (other than (1) other investments in Capital Stock of joint ventures permitted under Section 5.8 and (2) investments permitted under Section 5.8(j) if such restriction or conditions apply only to the property or assets
that are the subject of such investment), or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary
or to Guarantee Debt of the Borrower or any other Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by law or by this Agreement, (ii) the foregoing shall not apply to restrictions and
conditions existing on the date hereof identified on Schedule 5.5 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not
apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or other assets pending such sale, provided such restrictions and conditions apply only to the Subsidiary or other assets that is to
be sold and such sale is permitted hereunder, (iv) paragraph (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Debt permitted by this Agreement if such restrictions or
conditions apply only to the property or assets securing such Debt, (v) paragraph (a) of the foregoing shall not apply to customary provisions in leases and other contracts restricting the assignment thereof, (vi) existing
restrictions with respect to a Person acquired by the Borrower or any of its Subsidiaries (except to the extent such restrictions were put in place in connection with or in contemplation of such acquisition), which

  
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restrictions are not applicable to any Person, or the properties or assets of any Person other than the Person, or the property or assets of the Person, so acquired, (vii) restrictions
contained in any agreement or instrument relating to Swap Contracts to the extent, in the good faith judgment of the Borrower, such restrictions, at the time such Debt is incurred, either (A) are on customary market terms for Debt of such type,
so long as the Borrower has determined in good faith that such restrictions would not reasonably be expected to impair in any material respect the ability the Borrower and the other Subsidiaries to meet their ongoing payment obligations under the
Financing Documents, or (B) are not materially more restrictive, taken as a whole with respect to the Borrower and the other Subsidiaries, than the restrictions in the Financing Documents, (viii) customary supermajority voting provisions
and other customary provisions with respect to the disposition or distribution of assets, each contained in corporate charters, bylaws, stockholders’ agreements, limited liability company agreements, partnership agreements, joint venture
agreements and other similar agreements entered into in the Ordinary Course of Business of the Borrower and its Subsidiaries, and (ix) non-material, ordinary course of business provisions and conditions contained in the existing operating
units, farmout exchange, joint exploration, transportation and related oil and gas agreements executed in the ordinary course of business. 

Section 5.6 Swap Contracts. 

The Borrower will not, and will not permit any other Credit Party to, enter into any Swap Contracts other than Swap Contracts in respect of
commodities (i) with Eligible Swap Counterparties, (ii) with durations not to exceed 120 months at any time, and (iii) the notional volumes for which (when aggregated with other commodity Swap Contracts then in effect other than basis
differential swaps on volumes already hedged pursuant to other Swap Contracts) do not exceed, as of the date such Swap Contract is executed, 85% of the Projected Oil and Gas Production from Proved Developed Producing Reserves attributable to the Oil
and Gas Properties for each month during the period during which such Swap Contract is in effect for each of crude oil and natural gas, calculated separately; provided that (x) such limitations in clauses (i) and (ii) of this
Section 5.6 do not apply to forward agreements requiring the physical delivery of Hydrocarbons and (y) such limitation in clause (iii) of this Section 5.6 shall not apply to Swap Contracts in respect of commodities that are floor
prices or puts for which no further payment obligation is owed by such Credit Party and not in excess of 100% of Proved Developed Producing Reserves attributable to the Oil and Gas Properties for each month during the period during which such Swap
Contract is in effect for each of crude oil and natural gas, calculated separately. Not later than thirty (30) days after consummation of an Asset Disposition in respect of Oil and Gas Properties which, together with any other Asset
Dispositions of Oil and Gas Properties not theretofore taken into account in connection with this sentence, reduces by more than 5% the Credit Parties’ aggregate Projected Oil and Gas Production from Proved Developed Producing Reserves, the
Borrower will cause the notional volumes of Swap Contracts maintained by the Borrower and the other Credit Parties in respect of commodities not to exceed in the aggregate the amounts that would be permitted under clause (iii) of the preceding
sentence if such Swap Contracts were entered into immediately after giving effect to such Asset Disposition. 

Section 5.7 Consolidations, Mergers and Sales of Assets. 

(a) The Borrower will not, and will not permit any other Credit Party to, directly or indirectly consolidate or merge with or into any other
Person. Any Subsidiary may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and is not materially disadvantageous to the Lenders. 

  
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 (b) Except as otherwise consented to in writing by the Lead Lenders, the Borrower will not, and
will not permit any other Credit Party to, directly or indirectly, consummate any Asset Disposition (including, without limitation, any Asset Disposition under Section 363 of the Bankruptcy Code or under a chapter 11 plan and the entry into any
overriding royalty interest, net profit interest, volumetric production payment or similar transactions or amending any such existing agreements in a manner that would increase or extend any obligations thereunder). 

Section 5.8 Investments. 

The Borrower will not, and will not permit any Credit Party to, purchase, hold or acquire (including pursuant to any merger with any Person
that was not a Wholly-Owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or
advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) (x) all or substantially all of
the property and assets or business of another Person or (y) any assets of any other Person constituting a business unit, except: 
 (a)
Permitted Investments; 
 (b) [reserved]; 

(c) [reserved]; 
 (d) Guarantees
constituting Debt permitted by Section 5.1; 
 (e) investments consisting of Swap Contracts to the extent permitted under
Section 5.6; 
 (f) [reserved]; 

(g) trade credits and accounts arising in the Ordinary Course of Business; 

(h) [reserved]; 
 (i) investments
made in any debtor of the Borrower or any Subsidiary as a result of the receipt of stock, obligations or securities in settlement of debts created in the Ordinary Course of Business and owing to the Borrower or any Subsidiary; 

(j) [reserved]; 
 (k) [reserved];

 (l) [reserved]; 

  
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 (m) repurchase of Capital Stock deemed to occur upon exercise of stock options or warrants if
such Capital Stock represents a portion of the exercise price or such options or warrants or the payment of withholding taxes through the issuance of Capital Stock; 

(n) the purchase of fractional shares arising out of stock dividends, splits or combinations or business combinations; 

(o) any other investments in any Person having an aggregate fair market value (measured on the date each such investment was made and without
giving effect to subsequent changes in value), when taken together will all other investments made pursuant to this clause (o) do not exceed $1,000,000 outstanding at any time; 

(p) [reserved]; 
 (q) [reserved];

 (r) [reserved]; and 
 (s)
Dispositions permitted by Section 5.7 to the extent constituting Investments. 
 Section 5.9 Transactions with
Affiliates. 
 The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, enter into or permit to
exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the Borrower, except (i) as expressly permitted by this Agreement, (ii) as otherwise disclosed on
Schedule 5.9, and (iii) for transactions which contain terms that are no less favorable to the Borrower or any other Credit Party, as the case may be, than those which might be obtained from a third party not an Affiliate of any
Credit Party, (iv) any Restricted Payment permitted by Section 5.4 or a disposition of Excluded Property, (v) with respect to any Person serving as an officer, director, employee or consultant of the Borrower or any Subsidiary,
(1) the payment of reasonable compensation, benefits or indemnification liabilities in connection with his or her services in such capacity provided that the payment of any such compensation, benefits or indemnification liabilities are approved
by a majority of the disinterested members of the Board of Directors of the Borrower or by the compensation committee of the Borrower, (2) the making of advances for travel or other business expenses in the Ordinary Course of Business or
(3) such Person’s participation in any benefit or compensation and (vi) with respect to transactions among Credit Parties. 

Section 5.10 Modification of Certain Documents; Limitation on Repayment of Debt; Restriction on Adequate Protection
Payments. 
 (a) The Borrower will not, directly or indirectly, amend or otherwise modify any Organizational Documents of the
Borrower, except for such amendments or other modifications required by Law or which are not materially adverse to the interests of the Administrative Agent or any Lender and which, in each instance, are fully disclosed to the Administrative Agent.

 (b) The Borrower will not, directly or indirectly, amend or modify, or permit the amendment or modification of, any provision of any
agreement governing (i) the Prepetition Second Lien Debt except for such amendments or other modifications that are not materially 

  
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adverse to the interest of the Administrative Agent or any Lender and which, in each instance, are fully disclosed to the Administrative Agent and the Lead Lenders or (ii) the Prepetition
Senior Notes (other than to amend or delete any covenant, event of default, mandatory prepayment or obligation to offer to purchase Prepetition Senior Notes, in each case, that are favorable to the interests of the Administrative Agent and any
Lenders). 
 (c) The Borrower will not, directly or indirectly, make (or give any notice in respect of) any voluntary or optional payment or
prepayment on or redemption or acquisition for value of, or any prepayment or redemption as a result of any asset sale, change of control or similar event of, any Debt for borrowed money, including, for the avoidance of doubt, any Prepetition Second
Lien Debt or Prepetition Senior Notes. 
 (d) The Borrower will not, and will not permit any other Credit Party to, make any adequate
protection payments to, or otherwise provide adequate protection payments for, the Prepetition Second Lien Secured Parties. 

Section 5.11 Fiscal Year. 

The Borrower will not, and will not permit any other Credit Party to, change its Fiscal Year. 

Section 5.12 Conduct of Business. 

The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, engage in any line of business other than those
businesses engaged in on the Closing Date and described on Schedule 5.12 and businesses reasonably related thereto. 

Section 5.13 Capital Stock. 

The Borrower will not, and will not cause or permit any Subsidiary to, permit a Lien (other than a Lien created under a Financing Document, a
Lien securing Prepetition Second Lien Debt or an involuntary Permitted Lien) to be placed on any of the Capital Stock owned by the Borrower or such Subsidiary in any other Person. 

Section 5.14 Limitation on Sale and Leaseback Transactions. 

The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, enter into any arrangement with any Person
whereby in a substantially contemporaneous transaction the Borrower or any of its Subsidiaries sells or transfers all or substantially all of its right, title and interest in an asset and, in connection therewith, acquires or leases back the
right to use such asset; provided this Section 5.14 shall not prohibit (i) any sale-leaseback resulting from the incurrence of any lease of any capital asset entered into within 180 days of the acquisition of such capital asset for
the purpose of providing permanent financing of such asset, provided that the Debt related thereto is permitted by Section 5.1 or (ii) any Excluded Property Leaseback. 

  
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 Section 5.15 Bank Accounts. 

The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, establish any new bank account (excluding any
account established after notice to the Administrative Agent exclusively for payroll or petty cash) without the prior written consent of the Administrative Agent, and provided that in each case, the Administrative Agent, the Borrower or such other
Credit Party and the bank at which the account is to be opened enter into a control agreement regarding such bank account pursuant to which such bank acknowledges the security interest of the Administrative Agent in such bank account, agrees to
comply with instructions originated by the Administrative Agent directing disposition of the funds in such bank account without further consent from the Borrower, and agrees to subordinate and limit any security interest such bank may have in such
bank account on terms reasonably satisfactory to the Administrative Agent. 
 Section 5.16 Compliance with
Anti-Corruption Laws. 
 (a) None of the Borrower, its Subsidiaries, or to the knowledge of Borrower or any Subsidiary, their
respective directors, officers, agents, employees or other persons that act for or on behalf of the Borrower or its Subsidiaries (individually and collectively, “Borrower Representative”) has taken any act that would violate the
U.S. Foreign Corrupt Practices Act, the UK Bribery Act, or any other applicable anti-bribery law (the “Anti-Corruption Laws”). 

(b) Without limiting the foregoing, none of the Borrower or any Subsidiary, or to the knowledge of the Borrower or any Subsidiary, any Borrower
Representative has offered, paid, promised to pay, or authorized the payment of any money, or offered, given, promised to give, or authorized the giving of anything of value, to any officer, employee or any other person acting in an official
capacity for any Governmental Authority, quasi-governmental authority, public international organization, to any political party or official thereof, or to any candidate for political office (individually and collectively, “Government
Official”) or to any person under circumstances where the Borrower, its Subsidiaries or Borrower Representatives knew or had reason to know or believe that all or a portion of such money or thing of value would be offered, given, or
promised, directly or indirectly, to any person, in each case for the purpose of (i) influencing any act or decision of such person in his official capacity as a Government Official, (ii) inducing such person to perform or omit to perform
any activity related to his legal duties, (iii) securing any improper advantage, or (iv) inducing such person to influence or affect any act or decision of any Governmental Authority, quasi-governmental authority, public international
organization, in each case, in order to assist the Borrower, its Subsidiaries or any Borrower Representatives in obtaining or retaining business for or with, or in directing business to, the Borrower or any other person.

Section 5.17 Compliance with Anti-Terrorism Laws. 

The Borrower will not, and will not permit any other Credit Party to, engage in any activities which could cause them to become a Blocked
Person. The Borrower shall immediately notify the Administrative Agent if the Borrower has knowledge that the Borrower, any additional Credit Party or any of their respective Affiliates or their respective employees or agents acting or benefiting in
any capacity in connection with the transactions contemplated by this Agreement is or becomes a Blocked Person or (i) is convicted on, (ii) pleads nolo contendere to, (iii) is indicted on or (iv) is arraigned and held over on
charges involving money laundering or predicate crimes to money laundering. The Borrower will not, and will not permit any other Credit Party to, directly or indirectly, (x) engage in any business, transaction or dealing in or with any Blocked
Person, or with any government, country or territory where such activities would violate Anti-Terrorism Law or (y) act in any manner that will result in a violation of any Anti-Terrorism Law. 

  
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 Section 5.18 Subsidiaries. 

The Borrower shall not, and shall not permit any of its Subsidiaries to, create, acquire or permit to exist (a) any Foreign Subsidiary or
(b) any Subsidiary that is not a Wholly-Owned Subsidiary. 
 Section 5.19 Prepetition Secured Obligations.

 Until Discharge of DIP Obligations, the Borrower will not, and will not permit any Credit Party to, use the proceeds of the Loans
or cash collateral to pay Prepetition Secured Obligations, except as permitted by the DIP Orders or this Agreement. 

Section 5.20 Changes to DIP Orders. 

Without the consent of the Administrative Agent and the Lead Lenders, none of the Debtors shall file a motion (or support any motion) seeking
to amend or otherwise modify any DIP Order in any manner adverse to the Lenders. 
 Section 5.21 [Reserved]. 

Section 5.22 Superpriority Administrative Expense Claims. 

The Borrower will not, and will not permit any other Credit Party to, create or permit to exist any other superpriority administrative expense
claim or “claim” that is pari passu with or senior to the claims of the Lenders under the DIP Facility (in each case, other than the Carve Out and certain hedging obligations to be approved by the Required Lenders). 

Section 5.23 Use of DIP Facility Proceeds. 

Borrower will not, and will not permit any other Credit Party to, use any proceeds of the DIP Facility for purposes other than those described
in this Agreement and contained in the Interim Financing Order and Final Order. 
 Section 5.24 Rejection of Oil and Gas
Leases. 
 The Borrower will not, and will not permit any other Credit Party to, reject any oil and gas lease without the prior
written consent of the Lead Lenders or permit any oil and gas lease to expire without prior consultation with the Required Lenders at least thirty (30) days before the filing of any motion for rejection or the deemed rejection of any oil and
gas lease. 
 Section 5.25 Section 506(c) Claims. 

The Borrower will not, and will not permit any other Credit Party to, make any claims under Section 506(c) of the Bankruptcy Code.
Furthermore, the Borrower will waive the applicability of Section 506(c) of the Bankruptcy Code against the GSO Lenders, as Prepetition First Lien Lenders. 

  
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 Section 5.26 Budget Covenant; Permitted Variances 

(a) The Budget shall be tested on a weekly basis (of Monday through Sunday, beginning on Monday at 12:01 a.m., Central Time, on
June 6, 2016) on the last Business Day of each week as required under Section 4.1(q). Any deviation from the Budget in excess of the Permitted Variances (as described below in Section 5.26(b)) shall constitute non-compliance with
the Budget and the terms of the Financing Documents; provided that the Lead Lenders shall have the authority to provide written pre-approval for any deviations in excess of the Permitted Variances. 

(b) As of any Testing Date, for the Testing Period ending on such Testing Date, the Borrower shall not allow (i) the aggregate
Operating Disbursements made by the Credit Parties during such Testing Period (reduced by any applicable accrued and unused Carry Forward Amounts) to be greater than 115% of the aggregate Operating Disbursements for the Credit Parties set forth in
the Budget for such Testing Period or (ii) the aggregate Receipts received by the Credit Parties during such Testing Period (increased by any applicable accrued and unused Carry Forward Amounts) to be less than 85% of the aggregate Receipts for
the Credit Parties set forth in the Budget for such Testing Period (the variance in Operating Disbursements described in the foregoing clause (i) and the variance in Receipts described in the foregoing clause (ii), the “Permitted
Variances”). Notwithstanding the foregoing provisions of this Section 5.26(b), joint interest Receipts shall be excluded in calculating both the aggregate Receipts received by the Credit Parties during any Testing Period and the
aggregate Receipts for the Credit Parties set forth in the Budget for any Testing Period, and thus shall not factor into the calculation of the variance in Receipts set forth in clause (ii) of the preceding sentence. 

Section 5.27 Capital Expenditures. 

The Borrower shall not allow the aggregate capital expenditures (excluding capitalized interest and internal costs and net of amounts to be
billed to working interest partners) incurred by the Borrower and its Subsidiaries to exceed $2,500,000; provided, that it is understood and agreed that expenditures incurred in connection with (i) plugging and abandonment activities and
(ii) workover activities shall not be deemed to be capital expenditures for purposes of this Section 5.27. 
 Section 5.28
Material Contracts. 
 Without the consent of the Lead Lenders, none of the Debtors shall amend any Material Contracts,
including any Swap Contracts. 

  
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 ARTICLE 6 

[RESERVED] 
 ARTICLE 7

 CONDITIONS 

Section 7.1 Conditions Precedent to Effectiveness. 

This Agreement shall not become effective until the date on which the following condition is satisfied, which such condition shall be the sole
and exclusive condition to the effectiveness of this Agreement: 
 (a) The Administrative Agent and the Lenders shall have received from each
party hereto either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent and the Lead Lenders (which may include telecopy transmission of a signed signature
page of this Agreement) that such party has signed a counterpart of this Agreement. 
 Section 7.2 Conditions
Precedent to Availability of Loans. 
 The obligation of the Lenders to make the Loans shall commence as of the Business Day (the
“Availability Date”) when each of the following conditions precedent shall have been satisfied in a manner satisfactory to the Administrative Agent and the Lenders in their sole discretion: 

(a) the Petition Date shall have occurred; 

(b) the Interim Financing Order authorizing and approving the use of cash collateral during the Interim Period shall have been entered by the
Bankruptcy Court and such Interim Financing Order shall not have been reversed, vacated or stayed and shall not have been amended, supplemented or otherwise modified without the prior written consent of the Administrative Agent and the Lead Lenders;

 (c) the Debtors shall have entered into the RSA; 

(d) the Final Order authorizing and approving the DIP Facility and the transactions contemplated hereby, shall have been entered by the
Bankruptcy Court not later than forty-five (45) days after the entry of the Interim Financing Order and such Final Order shall not have been reversed, vacated or stayed and shall not have been amended, supplemented or otherwise modified without
the prior written consent of the Administrative Agent and the Lead Lenders; 
 (e) the Administrative Agent and the Lenders shall have
received duly executed and delivered counterparts of this Agreement and the other Financing Documents; 
 (f) the Administrative Agent and
the Lenders shall have received a certificate of the Secretary, Assistant Secretary or a Responsible Officer with similar responsibilities of each Credit Party, or in the event that such Credit Party is a limited partnership, of such Credit
Party’s general partner, certifying as of the Availability Date: (i) resolutions of its board of directors, managers or members authorizing the transactions contemplated hereby; (ii) the names and genuine signatures of the Responsible
Officers of such Person, authorized to execute, deliver and 

  
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perform, as applicable, this Agreement, any notes, the Guaranty, the Security Documents, and all other Financing Documents to be delivered by such Person; (iii) the Organizational Documents
of such Person as in effect as of the Availability Date; (iv) the good standing certificate for such Person, from its state of incorporation, formation or organization, as applicable, dated as of a recent date; and (v) as may be reasonably
required by the Administrative Agent and the Lead Lenders, certificate(s) of authority for such Person from states wherein such Person is required to be qualified to conduct business, evidencing such Person’s qualification to do business in
such state, dated as of a recent date, provided that, if requested by the Borrower, the certificates described in this clause (v) may be provided within a reasonable period of time after the Availability Date, such period of time to be
agreed by the Borrower, the Administrative Agent and the Lead Lenders; 
 (g) the Administrative Agent and Lenders shall have received a
written legal opinion addressed to the Administrative Agent and the Lenders in form and substance reasonably satisfactory to the Administrative Agent and the Lead Lenders from Andrews Kurth LLP, special counsel to the Credit Parties (the Borrower,
the other Credit Parties and the Administrative Agent hereby instruct such counsel to deliver such legal opinion); 
 (h) all first-day
motions filed by the Credit Parties (including any motions related to any critical vendor or supplier motions) and related orders entered by the Bankruptcy Court in the Chapter 11 Cases shall be in form and substance reasonably satisfactory to
the Administrative Agent and the Lead Lenders. All motions related to the DIP Facility and cash management shall be in form and substance satisfactory to the Administrative Agent and the Lead Lenders in their sole discretion; 

(i) all governmental and third-party consents and approvals, in each case, necessary in connection with the DIP Facility shall have been
obtained and remain in effect; 
 (j) the making of the Loans shall not violate any Requirement of Law and shall not have been enjoined,
whether temporarily, preliminarily, or permanently; 
 (k) all fees, expenses and other amounts due (including the reasonable and documented
fees and expenses of counsel) required to be paid to the Administrative Agent and the Lenders on or before the Availability Date shall have been paid (or will be paid with the proceeds of any Borrowing); 

(l) the Administrative Agent and the Lead Lenders shall have received the Initial Budget, together with a certificate of a Responsible Officer
of the Borrower stating that such Initial Budget has been prepared on a reasonable basis and in good faith and is based on assumptions believed by the Borrower and each other Credit Party to be reasonable at the time made and from the best
information then available to the Borrower and each other Credit Party; 
 (m) the Administrative Agent and the Lead Lenders shall have
received the results of lien, judgment and other customary UCC searches as of a recent date prior to the Closing Date in each jurisdiction requested by the Administrative Agent and the Lenders and such search results shall reveal no Liens on any of
the assets of the Credit Parties except for (a) Permitted Liens or (b) Liens discharged on or prior to the Closing Date pursuant to documentation reasonably satisfactory to the Administrative Agent and the Lead Lenders; 

  
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 (n) the Administrative Agent and the Lead Lenders shall have received copies of insurance
certificates, if applicable, evidencing insurance required to be maintained by the Borrower and the Subsidiaries pursuant to Section 4.4, each of which shall name the Secured Parties, as additional insureds on any such liability insurance and,
if casualty insurance is obtained, name the Administrative Agent as additional loss payee under any such casualty insurance, in each case in form and substance reasonably satisfactory to the Administrative Agent and the Lead Lenders (provided that
if such endorsement or amendment cannot be delivered by the Closing Date, the Administrative Agent (at the direction of the Lead Lenders) may consent to such endorsement or amendment being delivered at such later date as it reasonably deems
appropriate in the circumstances); 
 (o) the Administrative Agent and the Lenders shall have a valid and perfected first priority lien on
and security interest in the Collateral, including, but not limited to the Collateral that secured the Prepetition First Lien Obligations, and all filing and recording fees and taxes with respect to such liens and security interests shall have been
duly paid; and 
 (p) the Administrative Agent shall have received, at least two (2) Business Days prior to the Closing Date, all
documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act, that is requested by the Administrative Agent or any
Initial Lender in writing at least five (5) Business Days prior to the Closing Date. 
 For purposes of determining compliance with the
conditions specified in this Section 7.2, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or
approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Availability Date specifying its objection thereto. 

Section 7.3 Conditions to Extensions of Credit. 

The obligation of each Lender to make any Loan during the Availability Period is subject to the satisfaction of the following conditions
precedent: 
 (a) the Administrative Agent shall have received a Notice of Borrowing pursuant to Section 2.2; 

(b) at the time of and immediately after giving effect to such Borrowing, no Default or Event of Default shall exist; and 

(c) the Final DIP Order shall be in full force and effect and shall not have been reversed, modified, stayed or amended, unless such reversal,
modification, stay or amendment is acceptable to the Administrative Agent and the Lead Lenders in accordance with the terms of the Financing Documents. 

Each Notice of Borrowing submitted by the Borrower hereunder shall constitute a representation and warranty by the Borrower on the date
thereof that the conditions in Section 7.3 are (or will be) satisfied on and as of the date of the applicable Borrowing. 

  
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 ARTICLE 8 

EVENTS OF DEFAULT 

Section 8.1 Events of Default. 

For purposes of the Financing Documents, the occurrence of any of the following conditions and/or events, whether voluntary or involuntary, by
operation of Law or otherwise, shall constitute an “Event of Default”: 
 (a) the Borrower shall fail to pay when due any
principal, interest, premium or fee under any Financing Document or any other amount payable under any Financing Document and, in the case of any such payment (other than any principal payment), such failure shall continue unremedied for a period of
three (3) Business Days; 
 (b) the Borrower shall fail to observe or perform any covenant contained in Sections 4.1(e), 4.1(f),
4.3, 4.7, 4.11, 4.13, 4.14, 4.15 or Article 5, provided, however, the imposition of a lien under Section 303(k) or 4068 of ERISA or under Section 430(k) of the Code shall not be regarded as a failure to perform the
covenants contained in Article 5 unless such lien or liens could reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect; 

(c) any Credit Party defaults in the performance of or compliance with any term contained in this Agreement or in any other Financing Document
(other than occurrences described in other provisions of this Section 8.1 for which a different grace or cure period is specified or for which no grace or cure period is specified and thereby constitute immediate Events of Default) and such
default is not remedied or waived within five (5) Business Days after the earlier of (i) receipt by the Borrower of notice from the Administrative Agent or the Lead Lenders of such default or (ii) the actual knowledge of the Borrower
or any other Credit Party of such default; 
 (d) any representation, warranty, certification or statement made by any Credit Party in any
Financing Document or in any certificate, financial statement or other document delivered pursuant to any Financing Document is incorrect in any material respect when made (or deemed made); 

(e) (i) failure of any Credit Party to pay when due or within any applicable grace period any principal, interest or other amount on Debt
(other than the Loans) or Prepetition Senior Notes or in respect of any Swap Contract, or the occurrence of any breach, default, condition or event with respect to any Debt (other than the Loans) or in respect of any Prepetition Senior Notes or in
respect of any Swap Contract if the effect of such occurrence is (A) to cause or to permit the holder or holders of any such Debt or Prepetition Senior Notes, or the counterparty under any such Swap Contract, to cause Debt, Prepetition Senior
Notes or other liabilities to become or be declared immediately due and payable or (B) to require any mandatory payment, purchase, redemption, retirement, defeasance, surrender, cancellation or acquisition of Debt or Prepetition Senior Notes or
to require any Credit Party to offer to pay, purchase, redeem, retire, defease, surrender, cancel or acquire Debt or Prepetition Senior Notes, in the case of any or all of the foregoing under this clause (i) in respect of Debt, Prepetition
Senior Notes or Swap Contracts having an individual principal amount in excess of $10,000,000 (or any amount, solely with respect to Swap Contracts) or having an aggregate principal amount 

  
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in excess of $10,000,000 (or any amount, solely with respect to Swap Contracts); provided that this paragraph (e) shall not apply to (x) secured Debt that becomes due as a result
of the voluntary sale or transfer of the property or assets securing such Debt or (y) any payment, purchase, redemption, retirement, defeasance, surrender, cancellation or acquisition of Debt or Prepetition Senior Notes satisfied by the
conversion, exchange or issuance of Capital Stock permitted to be issued hereunder; or (ii) the occurrence of any event requiring the prepayment of any subordinated Debt prior to the repayment of the DIP Obligations; 

(f) the occurrence of any Material Adverse Effect; 

(g) [reserved]; 
 (h) an ERISA
Event shall have occurred that, in the opinion of the Lead Lenders, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; 

(i) one or more judgments or orders for the payment of money (not paid or fully covered by insurance maintained in accordance with the
requirements of this Agreement and as to which the relevant insurance company has not denied coverage) aggregating in excess of $5,000,000 shall be rendered against the Borrower or any or all Credit Parties and either (i) enforcement
proceedings shall have been commenced by any creditor upon any such judgments or orders or (ii) there shall be any period of thirty (30) consecutive days during which a stay of enforcement of any such judgments or orders, by reason of a
pending appeal, bond or otherwise, shall not be in effect; 
 (j) a Change in Control shall occur; 

(k) any Lien created by any of the Security Documents shall at any time fail to constitute a valid and (to the extent perfection is obtained by
filing) perfected Lien on a material portion of the Collateral purported to be secured thereby, subject to no prior or equal Lien (except Permitted Liens), or any Credit Party shall so assert; 

(l) any Debtor files, or supports a motion that has been filed, to reject the RSA; 

(m) an order shall be entered dismissing a Chapter 11 Case or converting a Chapter 11 Case to a case under Chapter 7 of the
Bankruptcy Code; 
 (n) an order with respect to any of the Chapter 11 Cases shall be entered appointing, or any Credit Party
shall file an application for an order with respect to any of the Chapter 11 Cases seeking the appointment of, in either case without the prior written consent of the Lead Lenders, (i) a trustee under Section 1104 of the United States
Bankruptcy Code or (ii) an examiner or any other Person with enlarged powers relating to the operation of the business of any Credit Party (i.e., powers beyond those set forth in Sections 1104(d) and 1106(a)(3) and (4) of the
United States Bankruptcy Code) under Section 1106(b)(3) and 1106(b)(4) of the United States Bankruptcy Code; 
 (o) an order
shall be entered that is not stayed pending appeal granting relief from the automatic stay under the Chapter 11 Cases to any creditor of a Credit Party with respect to any claim against any property of such Credit Party that, when taken
together with all other such claims with respect to which orders entered on the docket of the Bankruptcy Court that are not stayed pending appeal granting relief from the automatic stay under the Chapter 11 Cases with respect to the Credit
Parties’ Collateral, exceeds $250,000; 

  
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 (p) an order shall be entered with respect to the Chapter 11 Cases, without the prior
written consent of the Lead Lenders, (i) to revoke, reverse, stay, vacate or otherwise modify the DIP Orders or this Agreement in a manner adverse to any Secured Party or in a manner inconsistent with the Financing Documents, (ii) to
permit any administrative expense or any claim (now existing or hereafter arising, of any kind or nature whatsoever) to have administrative priority equal or superior to the priority of the Secured Parties in respect of the DIP Obligations, or the
Prepetition First Lien Secured Parties in respect of the Prepetition First Lien Obligations, in each case other than the Carve Out and the Non-Primed Excepted Liens (to the extent, and only to the extent, set forth in the DIP Orders), (iii) to
terminate or deny use of cash collateral by the Credit Parties, or (iv) to grant or permit the grant of a lien that is equal in priority with or senior to the Liens securing the DIP Obligations or the Prepetition First Lien Obligations other
than the Carve Out and the Non-Primed Excepted Liens (to the extent, and only to the extent, set forth in the DIP Orders); 
 (q) failure of
the Credit Parties to comply with the DIP Orders in any material respect; 
 (r) any material portion of the Collateral purported to be
covered thereby, ceases to be, or otherwise fails to be, covered by any Lien or super-priority claim granted with respect to this Agreement, the Interim Financing Order or the Final DIP Order to be valid, perfected and enforceable in all respects
with the priority described herein; 
 (s) an application for an order described in clause (r) above shall be made by (i) a Credit
Party or (ii) a Person other than a Credit Party and such application is not contested on a timely basis, by the Credit Parties in good faith, in each case, other than any such application made in contemplation of the Discharge of DIP
Obligations, provided that concurrently therewith the Discharge of DIP Obligations occurs; 
 (t) the commencement of any adversary
proceeding, contested matter or other action by any Credit Party asserting in writing any claims or defenses against any of the Prepetition First Lien Agent or the Prepetition First Lien Secured Parties with respect to the obligations of any Credit
Party thereunder or the Liens granted to Prepetition First Lien Agent or Prepetition First Lien Secured Parties to secure the Prepetition First Lien Obligations, except as permitted under the Interim Financing Order or the Final DIP Order; 

(u) failure to timely comply with any of the Milestones, except to the extent such Milestone is extended to a later date with the consent of
the Lead Lenders; 
 (v) the Interim Financing Order or the Final DIP Order, as the case may be, is stayed, amended, modified, reversed, or
vacated in any manner adverse to the Lenders; 
 (w) an order is entered by the Bankruptcy Court that dismisses one of more of the
Chapter 11 Cases and that does not provide for termination of the DIP Facility and payment in full in cash of all DIP Obligations; 

  
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 (x) an order is entered by the Bankruptcy Court charging any of the Liens, including under
Section 506(c) or Section 552(b) of the Bankruptcy Code, or the commencement of other actions adverse to the Lenders or their rights and remedies under the DIP Facility in any Chapter 11 Case; or 

(y) the Debtors take any action in support of any of the conditions or events set forth in Sections 8.1(f), 8.1(n), 8.1(o), 8.1(p),
8.1(u), 8.1(v), 8.1(w) or 8.1(x), including failing to contest any application or request by another party in support of any of the foregoing. 

Section 8.2 Acceleration and Suspension or Termination of Loans and Commitments. 

Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, and shall, if so requested by Lead
Lenders, (i) by notice to the Borrower suspend or terminate the Commitment and the obligations of the Administrative Agent and the Lenders with respect thereto, in whole or in part (and, if in part, such reduction shall be pro rata among the
Lenders) and/or (ii) by notice to the Borrower declare all or any portion of the DIP Obligations to be, and such DIP Obligations shall thereupon become, immediately due and payable, with accrued interest thereon, without presentment, demand,
protest or other notice of any kind, all of which are hereby waived by the Borrower and the Borrower will pay the same. 
 Section 8.3
[Reserved]. 
 Section 8.4 Default Rate of Interest and Suspension of LIBOR Rate Options. 

At the election of the Lead Lenders, after written notice thereof to the Administrative Agent, after the occurrence of an Event of Default and
for so long as it continues, any portion of the Loans and other DIP Obligations that are overdue shall bear interest at a rate that is two percent (2.0%) in excess of the rate otherwise payable under this Agreement. 

Section 8.5 Set-off Rights. 

During the continuance of any Event of Default, each Lender is hereby authorized by the Borrower at any time or from time to time, with
reasonably prompt subsequent notice to the Borrower (any prior or contemporaneous notice being hereby expressly waived) to set-off and to appropriate and to apply any and all (i) balances held by such Lender or any of such Lender’s
Affiliates at any of its offices for the account of the Borrower or any of its Subsidiaries (regardless of whether such balances are then due to the Borrower or its Subsidiaries), and (ii) other property at any time held or owing by such Lender
to or for the credit or for the account of the Borrower or any of its Subsidiaries, against and on account of any of the DIP Obligations; except that no Lender shall exercise any such right without the prior written consent of the Administrative
Agent. Any Lender exercising a right to set-off shall purchase for cash (and the other Lenders shall sell) interests in each of such other Lender’s Pro Rata Share of the DIP Obligations as would be necessary to cause all Lenders to share the
amount so set-off with each other Lender in accordance with their respective Pro Rata Share of the DIP Obligations. The Borrower agrees, to the fullest extent permitted by Law, that any Lender or any of such Lender’s Affiliates may exercise its
right to set-off with respect to the DIP Obligations as provided in this Section 8.5. In the event that any Defaulting Lender shall exercise any such right of set-off, 

  
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(x) all amounts so set-off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.17 and, pending such
payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Secured Parties, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing
in reasonable detail the DIP Obligations owing to such Defaulting Lender as to which it exercised such right of set-off. 

Section 8.6 Application of Proceeds. 

(a) As to the Borrower. Notwithstanding anything to the contrary contained in this Agreement, upon the occurrence and during the
continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times thereafter received by the Administrative Agent from or on behalf of the Borrower or any Guarantor
of all or any part of the DIP Obligations, and, as between the Borrower on the one hand and the Administrative Agent and the Lenders on the other, the Administrative Agent shall have the continuing and exclusive right to apply and to reapply any and
all payments received against the DIP Obligations in such manner as Administrative Agent may deem advisable or as directed by the Required Lenders notwithstanding any previous application by the Administrative Agent. 

(b) After Event of Default. Following the occurrence and continuance of an Event of Default, the Administrative Agent shall apply any
and all payments received by the Administrative Agent in respect of the DIP Obligations, and any and all proceeds of Collateral received by the Administrative Agent, in the following order: first, to all fees, costs, indemnities, liabilities,
obligations and expenses incurred by or owing to the Administrative Agent with respect to this Agreement, the other Financing Documents or the Collateral, second, to all fees, costs, indemnities and expenses incurred by or owing to any Lender
with respect to this Agreement, the other Financing Documents or the Collateral, third, to accrued and unpaid interest on the DIP Obligations, fourth, to the principal amount of the DIP Obligations outstanding, and fifth, to any
other indebtedness or obligations of the Borrower owing to the Administrative Agent or any Lender under the Financing Documents. 
 (c)
[Reserved]. 
 (d) Residuary. Any balance remaining after giving effect to the applications set forth in this Section 8.6
shall be delivered to the Borrower or to whoever may be lawfully entitled to receive such balance or as a court of competent jurisdiction may direct. In carrying out any of the applications set forth in this Section 8.6, amounts received shall
be applied in the numerical order provided until exhausted prior to the application to the next succeeding category. 
 ARTICLE 9 

EXPENSES AND INDEMNITY 

Section 9.1 Expenses. 

The Borrower hereby agrees to promptly pay (a) (i) all reasonable and invoiced out-of-pocket costs and expenses of the Administrative
Agent and the Lead Lenders (with respect to counsel, limited to fees, disbursements and other charges for one counsel to each of (x) the Administrative Agent and its respective Affiliates and (y) the Lenders; and if reasonably

  
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requested by the Administrative Agent or the Lead Lenders, special regulatory counsel to each of (x) the Administrative Agent and (y) the Lenders (taken as a whole) and one local
counsel in any relevant jurisdiction to each of (x) the Administrative Agent and (y) the Lenders (taken as a whole)) in connection with the examination, review, due diligence investigation, documentation, negotiation, closing and
syndication of the transactions contemplated by the Financing Documents, (ii) reasonable and invoiced out-of-pocket costs and expenses of the Administrative Agent and the Lead Lenders (with respect to counsel, limited to fees, disbursements and
other charges for one counsel to each of (x) the Administrative Agent and its respective Affiliates and (y) the Lenders; and if reasonably requested by the Administrative Agent or the Lead Lenders, special regulatory counsel to each of
(x) the Administrative Agent and (y) the Lenders (taken as a whole) and one local counsel in any relevant jurisdiction to each of (x) the Administrative Agent and (y) the Lenders (taken as a whole)) in connection with the
performance by the Administrative Agent or the Lead Lenders of their rights and remedies under the Financing Documents and in connection with the continued administration of the Financing Documents including (A) any amendments, modifications,
consents and waivers to and/or under any and all Financing Documents and (B) any periodic public record searches conducted by or at the request of the Administrative Agent or the Lead Lenders (including, without limitation, title
investigations, UCC searches, fixture filing searches, judgment, pending litigation and tax lien searches and searches of applicable corporate, limited liability, partnership and related records concerning the continued existence, organization and
good standing of certain Persons), (b) without limitation of the preceding clause (a), all reasonable and invoiced out-of-pocket costs and expenses of the Administrative Agent and the Lead Lenders (with respect to counsel, limited to fees,
disbursements and other charges for one counsel to each of (x) the Administrative Agent and its respective Affiliates and (y) the Lenders; and if reasonably requested by the Administrative Agent or the Lead Lenders, special regulatory
counsel to each of (x) the Administrative Agent and (y) the Lenders (taken as a whole) and one local counsel in any relevant jurisdiction to each of (x) the Administrative Agent and (y) the Lenders (taken as a whole)) in
connection with the creation, perfection and maintenance of Liens pursuant to the Financing Documents, (c) without limitation of the preceding clause (a), all reasonable and invoiced out-of-pocket costs and expenses of the Administrative Agent
and the Lead Lenders (with respect to counsel, limited to fees, disbursements and other charges for one counsel to each of (x) the Administrative Agent and its respective Affiliates and (y) the Lenders; and if reasonably requested by the
Administrative Agent or the Lead Lenders, special regulatory counsel to each of (x) the Administrative Agent and (y) the Lenders (taken as a whole) and one local counsel in any relevant jurisdiction to each of (x) the Administrative
Agent and (y) the Lenders (taken as a whole)) in connection with protecting, storing, insuring, handling, maintaining or selling any Collateral, (d) without limitation of the preceding clause (a), all reasonable and invoiced
out-of-pocket costs and expenses of the Administrative Agent and the Lead Lenders in connection with the Administrative Agent’s or Lead Lenders’ reservation of funds in anticipation of the funding of the initial Loans to be made hereunder,
provided that the Borrower or any Affiliate has requested or consented to such reservation of funds and (e) all reasonable and invoiced out-of-pocket costs and expenses incurred by the Administrative Agent and the Lenders (with respect
to counsel, limited to fees, disbursements and other charges for one counsel to each of (x) the Administrative Agent and its respective Affiliates and (y) the Lenders; and if reasonably requested by the Administrative Agent or the Lead
Lenders, special regulatory counsel to each of (x) the Administrative Agent and (y) the Lenders (taken as a whole) and one local counsel in any relevant jurisdiction to each of (x) the Administrative Agent and (y) the Lenders
(taken as a whole); and, solely in the case of an actual or perceived conflict 

  
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 of interest, one additional counsel for the Administrative Agent or Lender affected by such conflict) in
connection with any claim, litigation, dispute, suit, investigation or proceeding relating to the Transactions, any Financing Document and in connection with any workout, collection, bankruptcy, insolvency and other enforcement proceedings under any
and all Financing Documents. 
 Section 9.2 Indemnity. 

The Borrower hereby agrees to indemnify, pay and hold harmless the Administrative Agent, the Lenders and their respective Affiliates and the
officers, directors, employees, trustees, agents, investment advisors, collateral managers, servicers, and counsel of the Administrative Agent, the Lenders and their respective Affiliates (collectively called the “Indemnitees”) from
and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, claims, costs, expenses and disbursements of any kind or nature whatsoever (including the reasonable fees and disbursements of counsel for such
Indemnitee) in connection with any investigative, response, remedial, administrative or judicial matter or proceeding, whether or not such Indemnitee shall be designated a party thereto and including any such proceeding initiated by or on behalf of
a Credit Party, and the reasonable expenses of investigation by engineers, environmental consultants and similar technical personnel and any commission, fee or compensation claimed by any broker (other than any broker retained by the Administrative
Agent or Lenders) asserting any right to payment for the transactions contemplated hereby, which may be imposed on, incurred by or asserted against such Indemnitee as a result of or in connection with the transactions contemplated hereby or by the
other Financing Documents (including (i)(A) as a direct or indirect result of the presence on or under, or escape, seepage, leakage, spillage, discharge, emission or release from, any property now or previously owned, leased or operated by the
Borrower, any other Credit Party or any other Person of any Hazardous Materials or any Hazardous Materials Contamination, (B) arising out of or relating to the offsite disposal of any materials generated or present on any such property or
(C) arising out of or resulting from the environmental condition of any such property or the applicability of any governmental requirements relating to Hazardous Materials, whether or not occasioned wholly or in part by any condition, accident
or event caused by any act or omission of the Borrower or any other Credit Party, (ii) the Transactions and (iii) proposed and actual extensions of credit under this Agreement) and the use or intended use of the proceeds of the Loans;
provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, losses, damages, claims or out-of-pocket expenses resulted from the gross negligence or willful misconduct of such Indemnitee or
of any of its Related Indemnified Persons (as determined by a final non-appealable judgment of a court of competent jurisdiction). To the extent that the undertaking set forth in the immediately preceding sentence may be unenforceable, the Borrower
shall contribute the maximum portion which it is permitted to pay and satisfy under applicable Law to the payment and satisfaction of all such indemnified liabilities incurred by the Indemnitees or any of them. For purposes of this paragraph,
“Related Indemnified Person” shall mean, with respect to an Indemnitee, (1) any controlling Person or controlled Affiliate of such Indemnitee, (2) the respective directors, officers, or employees of such Indemnitee or any
of its controlling Persons or controlled Affiliates and (3) the respective trustees, agents, investment advisors, collateral managers, servicers and counsel of such Indemnitee or any of its controlling Persons or controlled Affiliates. 

  
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 ARTICLE 10 

ADMINISTRATIVE AGENT 

Section 10.1 Appointment and Authorization. 

Each Lender hereby irrevocably appoints and authorizes the Administrative Agent to enter into each of the Financing Documents to which it is a
party (other than this Agreement) on its behalf and to take such actions as the Administrative Agent on its behalf and to exercise such powers under the Financing Documents as are delegated to the Administrative Agent by the terms thereof, together
with all such powers as are reasonably incidental thereto. Subject to the terms of Section 11.5 and to the terms of the other Financing Documents, the Administrative Agent and the Lead Lenders are authorized and empowered to amend, modify, or
waive any provisions of this Agreement or the other Financing Documents on behalf of the Lenders. Other than to the extent set forth in Section 10.12, the provisions of this Article 10 are solely for the benefit of the Administrative Agent
and the Lenders and neither the Borrower nor any other Credit Party shall have any rights as a third party beneficiary of any of the provisions hereof. In performing its functions and duties under this Agreement, the Administrative Agent shall act
solely as a non-fiduciary agent of the Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency, fiduciary or trust with or for the Lenders, the Borrower or any other Credit Party. Subject
to the provisions of this Article 10, including but not limited to Section 10.5 and Section 10.7, the Administrative Agent hereby agrees to act on the instructions of the Lead Lenders, the Required Lenders or all the Lenders, as the
context requires herein and the other Financing Documents, and/or upon the express conditions contained herein and the other Financing Documents, as applicable. The Administrative Agent may perform any of its duties hereunder, or under the Financing
Documents, by or through its own agents or employees. The Administrative Agent is authorized to appoint co-agents or sub-agents to act for it in connection with any right or power under the Financing Documents as are delegated to the Administrative
Agent by the terms thereof in respect of any jurisdiction or any Collateral, and all provision hereof benefiting the Administrative Agent shall benefit such co-agents and sub-agents, including provisions regarding indemnification. 

Section 10.2 Administrative Agent and Affiliates. 

The Administrative Agent shall have the same rights and powers under the Financing Documents as any other Lender and may exercise or refrain
from exercising the same as though it were not the Administrative Agent, and the Administrative Agent and its Affiliates may lend money to, invest in and generally engage in any kind of business with each Credit Party or Affiliate of any Credit
Party as if it were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 

Section 10.3 Action by Administrative Agent. 

The duties of the Administrative Agent shall be mechanical and administrative in nature. Nothing in this Agreement or any of the Financing
Documents is intended to or shall be construed to impose upon the Administrative Agent any obligations in respect of this Agreement or any of the Financing Documents except as expressly set forth herein or therein. Without limiting the generality of
the foregoing, the Administrative Agent shall not: 

  
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 (a) be subject to any implied duties, regardless of whether a Default or Event of Default has
occurred and is continuing; 
 (b) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated hereby or by the other Financing Documents that the Administrative Agent is required to exercise as directed in writing by the Lead Lenders or the Required Lenders (or such other number or percentage of the
Lenders as shall be expressly provided for herein or in the other Financing Documents); provided that the Administrative Agent shall not be required to take any action that, in its judgment or the judgment of its counsel, may expose the
Administrative Agent to liability or that is contrary to any Financing Document or applicable Requirements of Law; and 
 (c) except as
expressly set forth herein and in the other Financing Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any Credit Party or any of its Affiliates that is communicated to or
obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 
 Without limiting the generality of
the foregoing, the use of the term “agent” in this Agreement with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law.
Instead, such term us used merely as a matter of market custom and is intended to create or reflect only an administrative relationship between independent contracting parties. Each party to this Agreement acknowledges and agrees that the
Administrative Agent and the Lead Lenders or the Required Lenders may use an outside service provider for the tracking of all UCC financing statements or similar statements under the laws of any other jurisdiction required to be filed pursuant to
the Financing Documents and notification to the Administrative Agent, the Lead Lenders or the Required Lenders, as the case may be, of, among other things, the upcoming lapse or expiration thereof. 

Section 10.4 Consultation with Experts; Delegation of Duties. 

In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a
Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received written notice to the contrary from such Lender prior to the making of such Loan. The Administrative
Agent may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with the advice of such counsel, accountants
or experts. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Financing Document by or through, or delegate any and all such rights and powers to, any one or more
sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of
this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for
herein as well as activities as the Administrative Agent. The Administrative Agent shall not incur any liability for any action or inaction taken by a subagent so long as such subagent is appointed with due care. 

  
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 Section 10.5 Liability of Administrative Agent. 

Neither the Administrative Agent, any Lender nor any of their respective directors, officers, agents or employees shall be liable for any
action taken or not taken by it in connection with the Financing Documents, except that the Administrative Agent shall be liable with respect to its specific duties set forth hereunder, but only to the extent of its own gross negligence or willful
misconduct in the discharge thereof as determined by a final non-appealable judgment of a court of competent jurisdiction. Neither the Administrative Agent, any Lead Lender nor any of their respective directors, officers, agents or employees shall
be responsible for or have any duty to ascertain, inquire into or verify (i) any statement, warranty or representation made in connection with any Financing Document or any borrowing hereunder, (ii) the performance or observance of any of
the covenants or agreements specified in any Financing Document, (iii) the satisfaction of any condition specified in any Financing Document, (iv) the validity, effectiveness, sufficiency or genuineness of any Financing Document, any Lien
purported to be created or perfected thereby or any other instrument or writing furnished in connection therewith, (v) the existence or non-existence of any Default or Event of Default; (vi) the contents of any certificate, report or other
document delivered hereunder or thereunder or in connection herewith or therewith, or (vii) the financial condition of any Credit Party. Neither the Administrative Agent nor any Lead Lender shall incur any liability by acting in reliance upon
any notice, consent, certificate, statement, or other writing (which may be a bank wire, telex, facsimile or electronic transmission or similar writing) believed by it to be genuine or to be signed by the proper party or parties. The Administrative
Agent shall not be liable for any apportionment or distribution of payments made by it in good faith and if any such apportionment or distribution is subsequently determined to have been made in error the sole recourse of any Lender to whom payment
was due but not made, shall be to recover from other Lenders any payment in excess of the amount to which they are determined to be entitled (and such other Lenders hereby agree to return to such Lender any such erroneous payments received by them).
In addition, the Administrative Agent shall not be liable for any action taken or not taken by it (x) with the consent or at the request of the Lead Lenders or Required Lenders (or such other number or percentage of the Lenders as shall be
necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 11.5), or (y) in the absence of its own gross negligence or willful misconduct as determined by a
court of competent jurisdiction by final and non-appealable judgment. 
 Section 10.6 Indemnification. 

Each Lender shall, in accordance with its Pro Rata Share, indemnify the Administrative Agent and the Lead Lender (to the extent not reimbursed
by the Borrower within ten (10) days) upon demand against any cost, expense (including counsel fees and disbursements), claim, demand, action, loss or liability (except such as result from such indemnitee’s gross negligence or willful
misconduct as determined by a final non-appealable judgment of a court of competent jurisdiction) that the Administrative Agent may suffer or incur in connection with the Financing Documents or any action taken or omitted by the Administrative Agent
hereunder or thereunder. If any indemnity furnished to the Administrative Agent or the Lead Lender for any purpose shall, in the opinion of the Administrative Agent, be insufficient or become impaired, the Administrative Agent may call for
additional indemnity and cease, or not commence, to do the acts indemnified against even if so directed by the Lead Lenders until such additional indemnity is furnished. 

  
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 Section 10.7 Right to Request and Act on Instructions. 

The Administrative Agent and the Lead Lenders may at any time request instructions from the Lenders with respect to any actions or approvals
which by the terms of this Agreement or of any of the Financing Documents Administrative Agent is permitted or desires to take or to grant, and if such instructions are promptly requested, the Administrative Agent shall be absolutely entitled to
refrain from taking any action or to withhold any approval and shall not be under any liability whatsoever to any Person for refraining from any action or withholding any approval under any of the Financing Documents until it shall have received
such instructions from Lead Lenders or all or such other portion of Lenders as shall be prescribed by this Agreement. Without limiting the foregoing, no Lender shall have any right of action whatsoever against Administrative Agent or Lead Lender as
a result of the Administrative Agent or Lead Lender, as applicable, acting or refraining from acting under this Agreement or any of the other Financing Documents in accordance with the instructions of the Lead Lenders (or all or such other portion
of Lenders as shall be prescribed by this Agreement) and, notwithstanding the instructions of Lead Lenders (or such other applicable portion of Lenders), the Administrative Agent shall have no obligation to take any action if it believes, in good
faith, that such action would violate applicable Law or exposes Administrative Agent to any liability for which it has not received satisfactory indemnification in accordance with the provisions of Section 10.6, including for the avoidance of
doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law. 

Section 10.8 Credit Decision. 

Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender, and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other
Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking any action under the Financing Documents. 

Section 10.9 Collateral Matters. 

(a) The Lenders irrevocably authorize the Administrative Agent, at its option and in its discretion, to (i) release any Lien granted to or
held by the Administrative Agent under any Security Document (A) upon termination of the Commitment and payment in full of all DIP Obligations or (B) constituting property sold or disposed of as part of or in connection with any
disposition permitted under any Financing Document (it being understood and agreed that the Administrative Agent may conclusively rely without further inquiry on a certificate of a Responsible Officer as to the sale or other disposition of property
being made in full compliance with the provisions of the Financing Documents), (ii) release or subordinate any Lien granted to or held by the Administrative Agent under any Security Document constituting property described in
Section 5.2(d) (it being understood and agreed that Administrative Agent may conclusively rely without further inquiry on a certificate of a Responsible Officer as to the identification of any property described in Section 5.2(d)), and
(iii) release any Guarantor from the Guaranty (and release any Lien granted to or held by Administrative Agent on the assets of such Guarantor and the equity interests in such Guarantor) at such time as such Guarantor ceases to be a Subsidiary
as a result of a transaction permitted under this Agreement. Upon request by Administrative Agent at any time, Lenders will confirm Administrative Agent’s authority to release and/or subordinate particular types or items of Collateral pursuant
to this Section 10.9. 

  
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 (b) The Administrative Agent shall (and is hereby irrevocably authorized by Lenders to) execute
such documents as may be necessary to evidence the release of the security interest, mortgage or liens granted to Administrative Agent upon any Collateral to the extent set forth above; provided, that (i) Administrative Agent shall not
be required to execute any such document on terms which, in Administrative Agent’s opinion, would expose Administrative Agent to liability or create any obligations or entail any consequence other than the release of such security interest,
mortgage or liens without recourse or warranty and (ii) other than in connection with the payment in full of all DIP Obligations (other than inchoate or contingent or reimbursable obligations for which no claim has been asserted) and
termination of this Agreement, such release shall not in any manner discharge, affect or impair the DIP Obligations or any security interest in, or mortgage or lien upon (or obligations of a Credit Party in respect of) the Collateral retained by any
Credit Party. 
 (c) The Administrative Agent shall have no obligation whatsoever to any Lender or any other person to investigate, confirm
or assure that the Collateral exists or is owned by any Credit Party or is cared for, protected or insured or has been encumbered, or that any particular items of Collateral meet the eligibility criteria applicable in respect of the Loans hereunder,
or that the liens and security interests granted to the Administrative Agent pursuant hereto or any of the Financing Documents or otherwise have been properly or sufficiently or lawfully created, perfected, protected or enforced or are entitled to
any particular priority, or to exercise at all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of the rights, authorities and powers granted or available to the Administrative Agent in
this Agreement or in any of the other Financing Documents, it being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, subject to the other terms and conditions contained herein, the
Administrative Agent shall have no duty or liability whatsoever to any Lender. 
 Section 10.10 Agency for
Perfection. 
 Administrative Agent and each Lender hereby appoint each other Lender as agent for the purpose of perfecting
Administrative Agent’s security interest in assets which, in accordance with the Uniform Commercial Code in any applicable jurisdiction, can be perfected by possession or control. Should any Lender (other than Administrative Agent) obtain
possession or control of any such assets, such Lender shall notify Administrative Agent thereof, and, promptly upon Administrative Agent’s request therefor, shall deliver such assets to Administrative Agent or in accordance with Administrative
Agent’s instructions or transfer control to Administrative Agent in accordance with Administrative Agent’s instructions. Each Lender agrees that it will not have any right individually to enforce or seek to enforce any Security Document or
to realize upon any Collateral for the Loans unless instructed to do so by Administrative Agent (or consented to by Administrative Agent, as provided in Section 8.5), it being understood and agreed that such rights and remedies may be exercised
only by Administrative Agent. 

  
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 Section 10.11 Notice of Default. 

The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default except with
respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower
referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. The Administrative Agent will notify each Lender of its receipt of any such notice. The Administrative Agent
shall take such action with respect to such Default or Event of Default as may be requested by the Lead Lenders, or the Required Lenders (or all or such other portion of the Lenders as shall be prescribed by this Agreement) in accordance with the
terms hereof. Unless and until the Administrative Agent has received any such request, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of
Default as it shall deem advisable or in the best interests of the Lenders. 
 Section 10.12 Successor
Administrative Agent. 
 The Administrative Agent may at any time give notice of its resignation to the Lenders and the Borrower.
Upon receipt of any such notice of resignation, the Lead Lenders shall have the right, in consultation with the Borrower (so long as no Event of Default exists), to appoint a successor Administrative Agent. Upon the acceptance of a successor’s
appointment as the Administrative Agent hereunder and notice of such acceptance to the retiring Administrative Agent, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or
retired) Administrative Agent, the retiring Administrative Agent’s resignation shall become immediately effective and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder and under the other
Financing Documents (if such resignation was not already effective and such duties and obligations not already discharged, as provided below in this paragraph). Until such time as the Lead Lenders appoint a successor Administrative Agent as provided
for above in this Section 10.12, all payments, communications and determinations required to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly. The fees payable by the Borrower to a successor
Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. If no such successor shall have been so appointed by the Lead Lenders and shall have accepted such
appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of Lenders (but without any obligation) appoint a successor Administrative Agent.
From and following the expiration of such thirty (30) day period, the Administrative Agent shall have the exclusive right, upon one (1) Business Days’ notice to the Borrower and the Lenders, to make its resignation effective
immediately. From and following the effectiveness of such notice, (i) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Financing Documents and (ii) all payments,
communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time as the Lead Lenders appoint a successor Administrative Agent as provided for above
in this paragraph. The provisions of this Agreement shall continue in effect for the benefit of any retiring Administrative Agent and its sub-agents after the effectiveness of its resignation hereunder and under the other Financing Documents in
respect of any actions 

  
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taken or omitted to be taken by any of them while the retiring Administrative Agent was acting or was continuing to act as the Administrative Agent. Any successor Administrative Agent shall
provide the applicable documentation described in Section 2.13(f)(iii) to the Borrower on or prior to the date on which it becomes the Administrative Agent hereunder. 

Section 10.13 Disbursements of Loans; Payment and Sharing of Payment. 

(a) Loan Advances, Payments and Settlements; Interest and Fee Payments. 

(i) Unless the Administrative Agent shall have been notified by telephone, confirmed in writing, by any Lender by 5:00 p.m. (Central time) on
the day prior to the date of a proposed borrowing of Loans, that such Lender will not make available the amount that would constitute its applicable percentage of such borrowing on the date specified therefor, the Administrative Agent may assume
that such Lender has made such amount available to the Administrative Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. Each Lender shall reimburse the Administrative Agent on demand, in accordance
with the provisions of the immediately following paragraph, for all funds disbursed on its behalf by the Administrative Agent pursuant to the first sentence of this clause (i), or if the Administrative Agent so requests, each Lender will remit to
the Administrative Agent its Pro Rata Share of any Loan before the Administrative Agent disburses the same to the Borrower. If the Administrative Agent elects to require that each Lender make funds available to the Administrative Agent, prior to a
disbursement by the Administrative Agent to the Borrower, the Administrative Agent shall advise each Lender by telephone, facsimile or e-mail of the amount of such Lender’s Pro Rata Share of the Loan requested by the Borrower no later than
noon, Central time, on the date of funding of such Loan, and each such Lender shall pay the Administrative Agent on such date such Lender’s Pro Rata Share of such requested Loan, in same day funds, by wire transfer to the Payment Account, or
such other account as may be identified by the Administrative Agent to Lenders from time to time. If any Lender fails to pay the amount of its Pro Rata Share within one (1) Business Day after the Administrative Agent’s demand, the
Administrative Agent shall promptly notify the Borrower, and the Borrower shall immediately repay such amount to the Administrative Agent. Any repayment required by the Borrower pursuant to this Section 10.13 shall be accompanied by accrued
interest thereon from and including the date such amount is made available to the Borrower to but excluding the date of payment at the LIBOR Rate then applicable to Loans. Nothing in this Section 10.13 or elsewhere in this Agreement or the
other Financing Documents shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender or to relieve any Lender from its obligation to fulfill its commitments hereunder or to prejudice any rights that the
Administrative Agent or the Borrower may have against any Lender as a result of any default by such Lender hereunder. 
 (ii) On the Closing
Date, the Administrative Agent, on behalf of Lenders, may elect to advance to the Borrower the full amount of the initial Loans to be made on the Closing Date prior to receiving funds from Lenders, in reliance upon each Lender’s commitment to
make its Pro Rata Share of such Loans to the Borrower in a timely manner on such date. If the Administrative Agent elects to advance the initial Loans to the Borrower in such manner, the Administrative Agent shall be entitled to receive all interest
that accrues on the Closing Date on each Lender’s Pro Rata Share of such Loans unless Administrative Agent receives such Lender’s Pro Rata Share of such Loans by 3:00 p.m., Central time, on the Closing Date. 

  
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 (iii) The provisions of this Section 10.13(a) shall be deemed to be binding upon the
Administrative Agent and the Lenders notwithstanding the occurrence of any Default or Event of Default, or any insolvency or bankruptcy proceeding pertaining to the Borrower or any other Credit Party. 

(b) [Reserved]. 
 (c)
Return of Payments. 
 (i) If the Administrative Agent pays an amount to a Lender under this Agreement in the belief or expectation
that a related payment has been or will be received by the Administrative Agent from the Borrower and such related payment is not received by the Administrative Agent, then the Administrative Agent will be entitled to recover such amount from such
Lender on demand without set-off, counterclaim or deduction of any kind, together with interest accruing on a daily basis at the Federal Funds Rate. 

(ii) If the Administrative Agent determines at any time that any amount received by the Administrative Agent under this Agreement must be
returned to the Borrower or paid to any other Person pursuant to any insolvency Law or otherwise, then, notwithstanding any other term or condition of this Agreement or any other Financing Document, the Administrative Agent will not be required to
distribute any portion thereof to any Lender. In addition, each Lender will repay to the Administrative Agent on demand any portion of such amount that the Administrative Agent has distributed to such Lender, together with interest at such rate, if
any, as the Administrative Agent is required to pay to the Borrower or such other Person, without set-off, counterclaim or deduction of any kind. 

(d) Defaulting Lenders. The failure of any Defaulting Lender to make any Loan or any payment required by it hereunder shall not relieve
any other Lender of its obligations to make such Loan or payment, but neither any other Lender nor the Administrative Agent shall be responsible for the failure of any Defaulting Lender to make a Loan or make any other payment required hereunder.
Notwithstanding anything set forth herein to the contrary, a Defaulting Lender shall not have any voting or consent rights under or with respect to any Financing Document or constitute a “Lender” (or be included in the calculation
of “Lead Lenders” or “Required Lenders” hereunder) for any voting or consent rights under or with respect to any Financing Document except that neither the Commitment Amount of such Lender may be increased or
extended without the consent of such Lender. 
 (e) Sharing of Payments. If any Lender shall obtain any payment or other recovery
(whether voluntary, involuntary, by application of set-off or otherwise) on account of any Loan (other than the application of funds arising from the existence of a Defaulting Lender or pursuant to the terms of Section 2.7(i)(v) or
Section 2.14) in excess of its pro rata share of payments entitled pursuant to the other provisions of this Section 10.13, such Lender shall purchase from the other Lenders such participations in extensions of credit made by such other
Lenders (without recourse, representation or warranty) as shall be necessary to cause such purchasing Lender to share the excess payment or other recovery ratably with each of them; provided, however, that if all or any portion of the
excess payment or other recovery is thereafter required to be returned or otherwise recovered from such purchasing Lender, such portion of such purchase shall be rescinded and each Lender which has sold a participation to the purchasing Lender shall
repay to the purchasing Lender the purchase price to the ratable extent of such 

  
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return or recovery, without interest. The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this clause (e) may, to the fullest extent permitted
by Law, exercise all its rights of payment (including pursuant to Section 8.5) with respect to such participation as fully as if such Lender were the direct creditor of Borrower in the amount of such participation. If under any applicable
bankruptcy, insolvency or other similar Law, any Lender receives a secured claim in lieu of a set-off to which this clause (e) applies, such Lender shall, to the extent practicable, exercise its rights in respect of such secured claim in a
manner consistent with the rights of Lenders entitled under this clause (e) to share in the benefits of any recovery on such secured claim. 

Section 10.14 Right to Perform, Preserve and Protect. 

If any Credit Party fails to perform any obligation hereunder or under any other Financing Document, the Administrative Agent itself may, but
shall not be obligated to, cause such obligation to be performed at the Borrower’s expense. The Administrative Agent is further authorized by the Borrower and the Lenders to make expenditures from time to time which the Administrative Agent, in
its reasonable business judgment, deems necessary or desirable to (i) preserve or protect the business conducted by the Borrower, the Collateral, or any portion thereof and/or (ii) enhance the likelihood of, or maximize the amount of,
repayment of the Loans and other DIP Obligations. The Borrower hereby agrees to reimburse Administrative Agent on demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 10.14. Each
Lender hereby agrees to indemnify Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 10.14, in accordance with the provisions of Section 10.6. 

Section 10.15 Additional Titled Agents. 

Except for rights and powers, if any, expressly reserved under this Agreement to any bookrunner, arranger or to any titled agent named on the
cover page of this Agreement, other than Administrative Agent (collectively, the “Additional Titled Agents”), and except for obligations, liabilities, duties and responsibilities, if any, expressly assumed under this Agreement by
any Additional Titled Agent, no Additional Titled Agent, in such capacity, has any rights, powers, liabilities, duties or responsibilities hereunder or under any of the other Financing Documents. Without limiting the foregoing, no Additional Titled
Agent shall have nor be deemed to have a fiduciary relationship with any Lender. At any time that any Lender serving (or whose Affiliate is serving) as an Additional Titled Agent shall have transferred to any other Person (other than any Affiliates)
all of its interests in the Loans and in the Commitment, such Person shall be deemed to have concurrently resigned as such Additional Titled Agent. 

Section 10.16 Administrative Agent May File Proof of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Borrower or any Subsidiary, Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether
Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise to: 

  
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 (a) file and prove a claim for the whole amount of the principal and interest owing and unpaid in
respect of the Loans and all other Debt that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Article 9 allowed in such judicial
proceeding); and 
 (b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding
is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount
due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and their agents and counsel, and any other amounts due the Administrative Agent under Article 9. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender any plan of reorganization, arrangement, adjustment or composition affecting the Debt or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 

ARTICLE 11 

MISCELLANEOUS 

Section 11.1 Survival. 

All agreements, representations and warranties made herein and in every other Financing Document shall survive the execution and delivery of
this Agreement and the other Financing Documents and the other Financing Documents. The provisions of Sections 2.13 and 2.14 and Articles 9, 10 and 11 shall survive the payment of the DIP Obligations (both with respect to any Lender and
all Lenders collectively) and any termination of this Agreement. 
 Section 11.2 No Waivers. 

No failure or delay by Administrative Agent or any Lender in exercising any right, power or privilege under any Financing Document shall
operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein and therein provided shall be
cumulative and not exclusive of any rights or remedies provided by Law. 
 Section 11.3 Notices. 

(a) All notices, requests and other communications to any party hereunder shall be in writing (including prepaid overnight courier, facsimile
transmission, e-mail, electronic submissions or similar writing) and shall be given to such party at its address, facsimile number 

  
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or e-mail address set forth on the signature pages hereof (or, in the case of any such Lender who becomes a Lender after the date hereof, in an Assignment Agreement or in a notice delivered to
the Borrower and the Administrative Agent by the assignee Lender forthwith upon such assignment) or at such other address, facsimile number or e-mail address as such party may hereafter specify for the purpose by notice to the Administrative Agent
and the Borrower; provided, that notices, requests or other communications shall be permitted by e-mail or other electronic submissions only in accordance with the provisions of Section 11.3(c). Notices sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient,
shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective as provided in said
paragraph (b). Any party hereto may change its address or facsimile number for notices and other communications hereunder by written notice to the Borrower and the Administrative Agent. 

(b) The Administrative Agent agrees that the receipt of the communications by the Administrative Agent at its e-mail address as provided herein
shall constitute effective delivery of the communications to the Administrative Agent for purposes of the Financing Documents. Each Lender agrees that receipt of notice to it (as provided in the next sentence) specifying that the communications have
been posted to the Platform (as defined below) shall constitute effective delivery of the communications to such Lender for purposes of the Financing Documents. Each Lender agrees to notify the Administrative Agent in writing (including by
electronic communication) from time to time of such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission. 

(c) The Borrower hereby acknowledges that (a) the Administrative Agent may make available to the Lenders materials and/or information
provided by or on behalf of the Borrower hereunder (collectively, the “Borrower Materials”) by posting the Borrower Materials on Intralinks or another similar electronic system (the “Platform”), (b) the
Administrative Agent may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to
particular notices or communications, and (c) certain of the Lenders may be “public-side” Lenders (i.e., Lenders, or representatives thereof, that do not wish to receive material nonpublic information with respect to Borrower or its
securities) (each, a “Public Lender”). Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum,
shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC”, the Borrower shall be deemed to have authorized the Administrative Agent and the Lenders to
treat such Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (provided, however, that to the extent
such Borrower Materials constitute Information, they shall be treated as set forth in Section 10.12); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated as
“Public Investor”; and (z) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not marked as “Public
Investor”. Notwithstanding the foregoing, the following Borrower Materials shall be marked “PUBLIC”, unless the Borrower 

  
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notifies the Administrative Agent promptly (after being given a reasonable opportunity to review such Borrower Materials) that any such document contains material non-public information:
(1) the Financing Documents and (2) notification of changes in the terms of the Financing Documents. 
 (d) THE PLATFORM IS
PROVIDED “AS IS” AND “AS AVAILABLE”. NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED PARTIES WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS
LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM
VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY
CREDIT PARTY, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR
OTHERWISE) ARISING OUT OF ANY CREDIT PARTY’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT
JURISDICTION TO HAVE RESULTED FROM SUCH PERSON’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 
 Section 11.4
Severability. 
 In case any provision of or obligation under this Agreement or any other Financing Document shall be invalid,
illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 Section 11.5 Amendments and Waivers. 

(a) General Provisions. Except as otherwise set forth herein, no provision of this Agreement or any other Financing Document may be
amended, waived or otherwise modified unless such amendment, waiver or other modification is in writing and is signed or otherwise approved by the Borrower and the Lead Lenders (and, if the rights or duties of the Administrative Agent are affected
thereby, by the Administrative Agent); provided that no such amendment, waiver or other modification shall, unless signed or otherwise approved in writing by all Lenders directly and adversely affected thereby, (A) reduce the principal
of, rate of interest on or any fees with respect to any Loan or forgive any principal, interest or fees with respect to any Loan, (B) postpone the date fixed for, or waive, any payment (other than a payment pursuant to Section 2.3(b),
Section 2.3(c) or Section 2.3(d)) of principal of or interest on any Loan or any fees hereunder or postpone the date of termination of the commitment of any Lender hereunder, (C) increase the Commitment Amount of a Lender (or
reinstate any Commitment Amount of a Lender terminated pursuant to Section 8.2), (D) change the definition of either or both terms 

  
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Lead Lenders and Required Lenders or the percentage of Lenders which shall be required for Lenders to take any action hereunder, (E) release all or substantially all of the Collateral or
release all or substantially all of the value of the Guarantees, except, in each case with respect to this clause (E), as otherwise may be provided in this Agreement or the other Financing Documents (including in connection with any disposition
permitted hereunder), (F) amend, waive or otherwise modify this Section 11.5(a) or the definitions of the terms used in this Section 11.5(a) insofar as the definitions affect the substance of this Section 11.5(a), (G) reduce
the required percentages of Mortgaged Properties pursuant to Section 4.10(d), or (H) consent to the assignment, delegation or other transfer by any Credit Party of any of its rights and obligations under any Financing Document or release
the Borrower of its payment obligations under any Financing Document, except, in each case with respect to this clause (H), pursuant to a merger or consolidation permitted pursuant to this Agreement. It is hereby understood and agreed that all
Lenders shall be deemed directly and adversely affected by an amendment, waiver or other modification of the type described in the preceding clauses (D), (E), (F), (G) and (H) of the preceding sentence. 

(b) [Reserved]. 

Section 11.6 Assignments; Participations; Replacement of Lenders. 

(a) Assignments. 
 (i) Any
Lender may at any time assign to one or more Eligible Assignees all or any portion of such Lender’s Loans and interest in the Commitment, together with all related obligations of such Lender hereunder. Except as Administrative Agent may
otherwise agree, the amount of any such assignment (determined as of the date of the applicable Assignment Agreement or, if a “Trade Date” is specified in such Assignment Agreement, as of such Trade Date) shall be in a minimum
aggregate amount equal to $1,000,000 or, if less, the assignor’s entire interests in the Commitment and outstanding Loans; provided, that, in connection with simultaneous assignments to two or more related Approved Funds, such Approved
Funds shall be treated as one assignee for purposes of determining compliance with the minimum assignment size referred to above. The Borrower and the Administrative Agent shall be entitled to continue to deal solely and directly with such Lender in
connection with the interests so assigned to an Eligible Assignee until the Administrative Agent shall have received and accepted an effective Assignment Agreement executed, delivered and fully completed by the applicable parties thereto, such other
information regarding such Eligible Assignee as the Administrative Agent reasonably shall require and a processing fee of $3,500; provided, only one processing fee shall be payable in connection with simultaneous assignments to two or more
related Approved Funds. 
 (ii) From and after the date on which the conditions described above have been met, (A) such Eligible
Assignee shall be deemed automatically to have become a party hereto and, to the extent of the interests assigned to such Eligible Assignee pursuant to such Assignment Agreement, shall have the rights and obligations of a Lender hereunder and
(B) the assigning Lender, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment Agreement, shall be released from its rights and obligations hereunder (other than those that survive termination
pursuant to Section 11.1), provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that
Lender’s having been Defaulting Lender. Upon the request of the Eligible Assignee 

  
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(and, as applicable, the assigning Lender) pursuant to an effective Assignment Agreement, the Borrower shall execute and deliver to the Eligible Assignee (and, as applicable, the assigning
Lender) Notes in the aggregate principal amount equal to the sum of (x) such Eligible Assignee’s Loans and (y) such Eligible Assignee’s Pro Rata Share of the Commitment outstanding at the time of such execution (and, as
applicable, Notes in the principal amount equal to the sum of (x) the Loans retained by the assigning Lender and (y) the assigning Lender’s retained Pro Rata Share of the Commitment). Upon receipt by the assigning Lender of such Note,
the assigning Lender shall return to the Borrower any prior Note held by it. 
 (iii) Administrative Agent, acting solely for this purpose as
a non-fiduciary agent of the Borrower, shall maintain at its offices a copy of each Assignment Agreement delivered to it and the Register for the recordation of the names and addresses of each Lender, and the commitments of, and principal amount
(and stated interest) of the Loans owing to, such Lender pursuant to the terms hereof. The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent and Lenders may treat each Person whose name is recorded therein
pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time upon reasonable
prior notice to Administrative Agent. 
 (iv) Notwithstanding the foregoing provisions of this Section 11.6(a) or any other provision of
this Agreement, any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal
Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(v) Notwithstanding the foregoing provisions of this Section 11.6(a) or any other provision of this Agreement, Administrative Agent has
the right, but not the obligation, to effectuate assignments of Loans and Commitment Amounts via an electronic settlement system acceptable to Administrative Agent as designated in writing from time to time to Lenders by Administrative Agent (the
“Settlement Service”). At any time when Administrative Agent elects, in its sole discretion, to implement such Settlement Service, each such assignment shall be effected by the assigning Lender and proposed assignee pursuant to the
procedures then in effect under the Settlement Service, which procedures shall be consistent with the other provisions of this Section 11.6(a). Each assigning Lender and proposed Eligible Assignee shall comply with the requirements of the
Settlement Service in connection with effecting any assignment of Loans and Commitment Amounts pursuant to the Settlement Service. With the prior approval of each of the Administrative Agent and the Borrower, as applicable, the Administrative
Agent’s and the Borrower’s approval of such Eligible Assignee shall be deemed to have been automatically granted with respect to any transfer affected through the Settlement Service. Assignments and assumptions of the Loans and Commitment
Amounts shall be effected by the provisions otherwise set forth herein until Administrative Agent notifies Lenders of the Settlement Service as set forth herein. 

(vi) Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no
such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount

  
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sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including
funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably
consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its
full pro rata share of all Loans in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law
without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

(b) Participations. 
 Any
Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell to one or more Persons participating interests in its Loans, commitments or other interests hereunder (any such Person, a
“Participant”). In the event of a sale by a Lender of a participating interest to a Participant, (i) such Lender’s obligations hereunder shall remain unchanged for all purposes, (ii) the Borrower and Administrative
Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations hereunder and (iii) all amounts payable by the Borrower shall be determined as if such Lender had not sold such
participation and shall be paid directly to such Lender. No Participant shall have any direct or indirect voting rights hereunder except with respect to any event described in Section 11.5 expressly requiring the unanimous vote of all Lenders
or, as applicable, all affected Lenders. The Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.7(h)(v) and 2.13 (subject to the requirements and limitations therein, including the requirements under
Section 2.13(f) (it being understood that the documentation required under Section 2.13(f) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to
paragraph (a) of this Section; provided that such Participant (i) agrees to be subject to the provisions of Sections 2.7(h)(v), 2.13 and 11.6(c) as if it were an assignee under paragraph (a) of this Section and
(ii) shall not be entitled to receive any greater payment under Sections 2.7(h)(v) and 2.13, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to
receive a greater payment results from an adoption of or any change in any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or directive (whether or not having the force of law) by any
Governmental Authority made subsequent to the date hereof that occurs after the Participant acquired the applicable participation. The Borrower agrees that if amounts outstanding under this Agreement are due and payable (as a result of acceleration
or otherwise), each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it
as a Lender under this Agreement; provided that such right of set-off shall be subject to the obligation of each Participant to share with Lenders, and Lenders agree to share with each Participant, as provided in Section 8.5. Each Lender
that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s
interest in the Loans or other obligations under the Financing 

  
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Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the
identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Financing Document) to any Person except to the extent that such disclosure is
necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive
absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of
doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

(c) First Out, Second Out Tranches. The Borrower and the Administrative Agent agree to execute and deliver amendments to this Agreement
in form and substance reasonably satisfactory to the Borrower (such approval not to be unreasonably withheld, delayed or conditioned) and the Administrative Agent within fifteen (15) days of written request from the Lead Lenders if such
amendments act only to change the priority or allocation of payments by the Borrower among the Lenders hereunder (or among existing and new Lenders after giving effect to any permitted assignment under Section 11.6(a)). Notwithstanding the
provisions of Section 11.5, each Lender agrees to execute and deliver such amendments within fifteen (15) days of written request from the Lead Lenders which do not change the priority or allocation of payments to such Lender. 

(d) Credit Party Assignments. 

No Credit Party may assign, delegate or otherwise transfer any of its rights or other obligations hereunder or under any other Financing
Document without the prior written consent of the Administrative Agent and each Lender. 
 Section 11.7 Headings. 

Headings and captions used in the Financing Documents (including the Exhibits, Schedules and Annexes hereto and thereto) are included for
convenience of reference only and shall not be given any substantive effect. 
 Section 11.8 Confidentiality.

 The Administrative Agent and each Lender shall hold all non-public information regarding the Credit Parties and their respective
businesses in accordance with such Person’s customary procedures for handling information of such nature, except that disclosure of such information may be made (i) to their and their investment advisers’ and sub-advisers’
respective agents, employees, Subsidiaries, Affiliates, attorneys, auditors, funding sources, professional consultants, rating agencies, insurance industry associations and portfolio management services, (ii) to prospective transferees or
purchasers of any interest in the Loans, and to prospective contractual counterparties (or the professional advisors thereto) in Swap Contracts permitted hereby, provided that any such Persons shall have agreed to be bound by the provisions of this
Section 11.8, (iii) as required by Law, subpoena, judicial order or similar order whether or not in connection with any litigation, (iv) as may be required in connection with the examination, audit or similar investigation of such
Person and (v) to a Person that is a trustee, investment advisor, 

  
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collateral manager, servicer, noteholder or secured party in a Securitization (as hereinafter defined) in connection with the administration, servicing and reporting on the assets serving as
collateral for such Securitization. For the purposes of this Section, “Securitization” shall mean a public or private offering by a Lender or any of its Affiliates or their respective successors and assigns, of Capital Stock which
represent an interest in, or which are collateralized, in whole or in party, by the Loans. Confidential information shall not include information that either (A) is in the public domain, or becomes part of the public domain after
disclosure to such Person through no fault of such Person, or (B) is disclosed to such Person by a Person other than a Credit Party, provided the Administrative Agent does not have actual knowledge that such Person is prohibited from
disclosing such information. The obligations of the Administrative Agent and the Lenders under this Section 11.8 shall supersede and replace the obligations of the Administrative Agent and the Lenders under any confidentiality agreement in
respect of this financing executed and delivered by the Administrative Agent or any Lender prior to the date hereof. 

Section 11.9 Waiver of Consequential and Other Damages. 

To the fullest extent permitted by applicable Law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any
theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of this Agreement, any other Financing Document or any agreement or instrument
contemplated hereby or thereby, the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or other
materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Financing Documents or the transactions contemplated hereby or thereby. 

Section 11.10 Marshaling; Payments Set Aside. 

Neither the Administrative Agent nor any Lender shall be under any obligation to marshal any assets in payment of any or all of the DIP
Obligations. To the extent that the Borrower makes any payment or the Administrative Agent enforces its Liens or the Administrative Agent or any Lender exercises its right of set-off, and such payment or the proceeds of such enforcement or set-off
is subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid by anyone, then to the extent of such recovery, the DIP Obligations or part thereof originally intended to be satisfied, and all Liens,
rights and remedies therefore, shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred. 

Section 11.11 GOVERNING LAW; SUBMISSION TO JURISDICTION. 

EXCEPT AS OTHERWISE SET FORTH IN THE MORTGAGES, THIS AGREEMENT, EACH NOTE AND EACH OTHER FINANCING DOCUMENT, AND ALL MATTERS RELATING HERETO
OR THERETO OR ARISING THEREFROM (WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE), SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. THE BORROWER HEREBY CONSENTS TO THE
JURISDICTION OF ANY STATE OR 

  
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FEDERAL COURT LOCATED WITHIN THE BOROUGH OF MANHATTAN, CITY OF NEW YORK, STATE OF NEW YORK AND IRREVOCABLY AGREES THAT, SUBJECT TO THE ADMINISTRATIVE AGENT’S ELECTION, ALL ACTIONS OR
PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER FINANCING DOCUMENTS SHALL BE LITIGATED IN SUCH COURTS. THE BORROWER EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON
CONVENIENS. THE BORROWER HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE UPON THE BORROWER BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, ADDRESSED TO THE BORROWER AT THE
ADDRESS SET FORTH IN THIS AGREEMENT AND SERVICE SO MADE SHALL BE COMPLETE TEN (10) DAYS AFTER THE SAME HAS BEEN POSTED. 

Section 11.12 WAIVER OF JURY TRIAL. 

EACH OF THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE FINANCING DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. EACH OF THE BORROWER, THE
ADMINISTRATIVE AGENT AND EACH LENDER ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS RELIED ON THE WAIVER IN ENTERING INTO THIS AGREEMENT AND THE OTHER FINANCING DOCUMENTS, AND THAT EACH
WILL CONTINUE TO RELY ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH OF THE BORROWER, THE ADMINISTRATIVE AGENT AND EACH LENDER WARRANTS AND REPRESENTS THAT EACH HAS HAD THE OPPORTUNITY OF REVIEWING THIS JURY WAIVER WITH LEGAL COUNSEL, AND
THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS. 
 Section 11.13 Publication; Advertisement.

 Each Lender and each Credit Party hereby authorizes the Arranger to publish the name of such Lender and Credit Party, the
existence of the financing arrangements referenced under this Agreement, the primary purpose and/or structure of those arrangements, the amount of credit extended under each facility, the title and role of each party to this Agreement, and the total
amount of the financing evidenced hereby in any “tombstone”, comparable advertisement or press release which the Arranger elects to submit for publication. In addition, each Lender and each Credit Party agrees that the Arranger may provide
lending industry trade organizations with information necessary and customary for inclusion in league table measurements after the Closing Date. With respect to any of the foregoing, the Arranger shall provide the Borrower with an opportunity to
review and confer with the Arranger regarding the contents of any such tombstone, advertisement or information, as applicable, prior to its submission for publication and, following such review period, the Arranger may, from time to time, publish
such information in any media form desired by the Arranger, until such time that the Borrower shall have requested the Arranger cease any such further publication. 

  
 102 

 Section 11.14 Counterparts; Integration. 

This Agreement and the other Financing Documents may be signed in any number of counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument. Signatures by facsimile shall bind the parties hereto. This Agreement and the other Financing Documents constitute the entire agreement and understanding among the parties
hereto and supersede any and all prior agreements and understandings, oral or written, relating to the subject matter hereof. 

Section 11.15 No Strict Construction. 

The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent
or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this
Agreement. 
 Section 11.16 USA PATRIOT Act Notification. 

The Administrative Agent (for itself and not on behalf of any Lender) and each Lender hereby notifies the Borrower that pursuant to the
requirements of the USA PATRIOT Act, it is required to obtain, verify and record certain information and documentation that identifies the Borrower, which information includes the name and address of the Borrower and such other information that will
allow the Administrative Agent or such Lender, as applicable, to identify the Borrower in accordance with the USA PATRIOT Act. 

Section 11.17 [Reserved]. 

Section 11.18 [Reserved]. 

Section 11.19 Acknowledgement and Consent to Bail-In of EEA Financial Institutions. 

Notwithstanding anything to the contrary in any Financing Document or in any other agreement, arrangement or understanding among any such
parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Financing Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of an EEA Resolution
Authority and agrees and consents to, and acknowledges and agrees to be bound by 
 (a) the application of any Write-Down and Conversion
Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

(b) the effects of any Bail-in Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

  
 103 

 (ii) a conversion of all, or a portion of, such liability into shares or other instruments of
ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights
with respect to any such liability under this Agreement or any other Financing Document; or 
 (iii) the variation of the terms of such
liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority. 

  
 104 

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

			
	 WARREN RESOURCES, INC.
  

	By:	 	  

	Name:	 	James A. Watt
	Title:	 	President, Chief Executive Officer and
		 	 Chief Restructuring Officer
  

	Address:	 	1331 17th Street
		 	Suite 720
		 	Denver, CO 80202
		 	Attention: President, Chief Executive
		 	Officer and Chief Restructuring
		 	 Officer
  

	Facsimile number:
	E-mail Address:
	 Taxpayer Identification Number: 11-3024080
  

with a copy to (which shall not constitute notice):
  

	Andrews Kurth LLP
	600 Travis, Suite 4200
	Houston, TX 77002
	Attention: Jeffrey M. Butler
	Telephone: (713) 220-4417
	E-mail: jeffbutler@andrewskurth.com
	  
 Borrower’s Account Designation:

 

	JPMorgan Chase Bank
	One Chase Plaza
	New York, NY 10081
	ABA No.: 021000021
	Account No.: 459-1-517471
	Account Name: Warren Resources, Inc.
	489 Fifth Avenue, 32nd Floor
	New York, NY 10017

					
		 	 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Administrative Agent

 

		 	By:	  	 
		 	  
 Address for notices:

		 	
		 	Wilmington Trust, N.A.
		 	50 South Sixth Street, Suite 1290
		 	Minneapolis, MN 55402
		 	Attention: Meghan McCauley
		 	Telephone: (612) 217-5647
		 	Facsimile: (612) 217-5651
		 	 E-mail: MMcCauley@WilmingtonTrust.com
  

with a copy to:
  

		 	Lindquist & Vennum LLP
		 	4200 IDS Center
		 	80 South Eighth Street
		 	Minneapolis, MN 55402
		 	Attention: Mark C. Dietzen, Esq.
		 	Telephone: (612) 371-2452
		 	Facsimile: (612) 371-3207
		 	 E-mail: MDietzen@Lindquist.com
  

		 	Payment Account:
		 	Wilmington Trust, N.A.
		 	Wilmington, DE
		 	ABA No.: 031100092
		 	Account No.: 116314-000
		 	Account Name: Corporate Capital Markets
		 	Account Name: Warren Resources, Inc. (DIP)

 Annex A 

Commitment Amounts 
 (as
of the Closing Date) 

 Exhibit A to Credit Agreement 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [the][each]1 Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each]2
Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the Assignees]3 hereunder are
several and not joint.]4 Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as
if set forth herein in full. 
 For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the
respective Assignees], and [the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective
Date inserted by the Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a Lender][their respective capacities as Lenders] under the Credit
Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of [the Assignor][the respective Assignors]
under the respective facilities identified below and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)][the respective
Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and
obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as
[the][an] “Assigned Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by [the][any] Assignor.

 1. Assignor[s]:
                                         
    
  
  

 

	1 	For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose
the second bracketed language. 

	2 	For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the
second bracketed language. 

	3 	Select as appropriate. 

	4 	Include bracketed language if there are either multiple Assignors or multiple Assignees. 

  
 Exhibit A – Page 1

 [Assignor [is] [is not] a Defaulting Lender] 

2. Assignee[s]:
                                         
    
  
  

[for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]] 

3. Borrower: Warren Resources, Inc. 
  

	 	4.	Administrative Agent: Wilmington Trust, National Association, as the administrative agent under the Credit Agreement 

  

	 	5.	Credit Agreement: Debtor-In-Possession Credit Agreement, dated as of June [•] 2016, among Warren Resources, Inc. the Lenders from time to time party thereto, and Wilmington Trust, National Association, as
Administrative Agent 

  

	 	6.	Assigned Interest: 

  

													
	 Assignor[s]5
	  	
Assignee[s]6
	  	Aggregate
Amount of
Commitment/Loans
for all Lenders7	  	Amount of
Commitment/Loans
Assigned	  	Percentage
Assigned of
Commitment/
Loans8	 	  	CUSIP
Number
		  		  	$	  	$	  	 	%	  	  	
		  		  	$	  	$	  	 	%	  	  	
		  		  	$	  	$	  	 	%	  	  	

  

	 	[7.	Trade Date:             ]9 

Effective Date:             ,
20            [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

	5 	List each Assignor, as appropriate. 

	6 	List each Assignee, as appropriate. 

	7 	Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date.

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

	9 	To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date. 

  
 Exhibit A – Page 2

 
			
	 ASSIGNOR
  

	 [NAME OF ASSIGNOR]
  

	By:	 	  

		 	Title:
	  
 ASSIGNEE

 

	 [NAME OF ASSIGNEE]
  

	By:	 	  

		 	Title:

  

			
	 [Consented to and]10 Accepted:

 
 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Administrative Agent

		
	By:	 	 
		 	Title:
	  
 WARREN RESOURCES, INC.

 

	By:	 	  

		 	Title:

  
  

	10 	To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

  
 Exhibit A – Page 3

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 

1. Representations and Warranties. 

1.1. Assignor. [The][Each] Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of [the][[the
relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this
Assignment and Assumption and to consummate the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or
in connection with the Credit Agreement or any other Financing Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Financing Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Financing Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person
of any of their respective obligations under any Financing Document. 
 1.2. Assignee. [The][Each] Assignee (a) represents and
warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit
Agreement, (ii) it meets all the requirements to be an Eligible Assignee under the Credit Agreement, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the
extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by [the][such] Assigned Interest and either it, or
the Person exercising discretion in making its decision to acquire [the][such] Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the
opportunity to receive copies of the most recent financial statements delivered pursuant to Section 4.1 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision
to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) attached hereto is any documentation required to be delivered by it pursuant to
the terms of the Credit Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance upon the Administrative Agent, [the][any] Assignor or any other Lender, and based
on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Financing Documents, and (ii) it will perform in accordance with their terms all of
the obligations which by the terms of the Financing Documents are required to be performed by it as a Lender. 

  
 Exhibit A – Page 4

 2. Payments. From and after the Effective Date, the Administrative Agent shall make all
payments in respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding the Effective Date and to [the][the relevant]
Assignee for amounts which have accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption
shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument.
Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be
governed by, and construed in accordance with, the law of the State of New York. 

  
 Exhibit A – Page 5

 Exhibit B to Credit Agreement 

[FORM OF] 
 COMPLIANCE
CERTIFICATE 
 WARREN RESOURCES, INC. 

Date:                     ,
             
 This certificate is given by
                    , a Responsible Officer of Warren Resources, Inc. (“Borrower”), pursuant to Section 4.1(c) of that certain
Debtor-In-Possession Credit Agreement, dated as of June [•], 2016, among Borrower, Lenders from time to time party thereto and Wilmington Trust, National Association, as Administrative Agent for Lenders (as such agreement may have been
amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein without definition shall have the meanings set forth in the Credit Agreement. 

The undersigned Responsible Officer on behalf of Borrower hereby certifies to Administrative Agent and Lenders that: 

(a) the financial statements delivered with this certificate in accordance with Section 4.1(a) and/or 4.1(b) of the Credit
Agreement fairly present in all material respects the results of operations and financial condition of Borrower and the Subsidiaries as of the dates and the accounting period covered by such financial statements; 

(b) I have reviewed the terms of the Credit Agreement and have made, or caused to be made under my supervision, a review in reasonable
detail of the transactions and conditions of Borrower and the Subsidiaries during the accounting period covered by such financial statements; and 

(c) such review has not disclosed the existence during or at the end of such accounting period, and I have no knowledge of the existence
as of the date hereof, of any condition or event that constitutes a Default or an Event of Default, except as set forth in Schedule 1 hereto, which includes a description of the nature and period of existence of such Default or an Event of
Default and what action Borrower has taken, is undertaking and proposes to take with respect thereto. 

  
 Exhibit B – Page 1

 IN WITNESS WHEREOF, the undersigned officer has executed and delivered this certificate this
             day of                     ,
            . 
  

					
	WARREN RESOURCES, INC.
		
	By	 	 
	Name:	 	 
	Title:	 	 	 	of Borrower

  
 Exhibit B – Page 2

 Schedule 1 to 

Compliance Certificate 

[Borrower to list any existing Defaults or Events of Default, specifying the nature and period of existence of each, and the actions
Borrower has taken, is undertaking and proposes to take in respect thereof. If no Defaults and no Events of Default are then in existence, such schedule should read “None”.] 

  
 Exhibit B – Page 3

 Exhibit C to Credit Agreement 

[FORM OF] 
 Notice of Borrowing

 WARREN RESOURCES, INC. 

Date:             ,
             
 This certificate is given by
            , a Responsible Officer of Warren Resources, Inc. (“Borrower”), on behalf of Borrower pursuant to Section 2.2 of that certain Debtor-In-Possession Credit
Agreement, dated as of June [•], 2016, among Borrower, Lenders from time to time party thereto and Wilmington Trust, National Association, as Administrative Agent for Lenders (as such agreement may have been amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein without definition shall have the meanings set forth in the Credit Agreement. 

The undersigned Responsible Officer hereby gives notice to Administrative Agent of Borrower’s request to: [complete as
appropriate] 
 (a) on [ date ] borrow $[            ]
of [•], which [•] shall be LIBOR Loans having an Interest Period of one (1) month; 
 (b) on [ date ] continue
$[            ]of the aggregate outstanding principal amount of the [            ] Loan, bearing interest at the LIBOR, as a
LIBOR Loan having an Interest Period of one (1) month. 
 The undersigned officer hereby certifies that except as set forth on Exhibit
A hereto, both before and after giving effect to the request in item (a) above each of the conditions precedent set forth in [Section 7.2 and Section 7.3] have been satisfied. 

IN WITNESS WHEREOF, the undersigned officer has executed and delivered this certificate this
            day of                     ,
            . 
  

			
	WARREN RESOURCES, INC.
		
	By	 	 
	Name	 	
	Title	 	

  
 Exhibit C – Page 1

 Exhibit E-1 to Credit Agreement 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Debtor-In-Possession Credit Agreement, dated as of June [•], 2016 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time) (the “Credit Agreement”), among Warren Resources, Inc., a Maryland limited partnership (the “Borrower”), the financial institutions or other entities from time
to time parties thereto (collectively, the “Lenders”), and Wilmington Trust, National Association, as the Administrative Agent. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the
Credit Agreement. 
 Pursuant to the provisions of Section 2.13(f)(ii)(B)(3) of the Credit Agreement, the undersigned hereby certifies
that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a “controlled foreign corporation” related to the
Borrower as described in Section 881(c)(3)(C) of the Code, and (v) no payments in connection with any Financing Document are effectively connected with the undersigned’s conduct of a U.S. trade or business. 

The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. person status on IRS Form W-8BEN
(or applicable successor IRS Form). By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent in
writing and (2) the undersigned shall furnish the Borrower and the Administrative Agent a properly completed and currently effective certificate in either the calendar year in which payment is to be made by the Borrower or the Administrative
Agent to the undersigned, or in either of the two calendar years preceding each such payment. 
 [Signature Page Follows] 

  
 Exhibit E-1 – Page 1

 
			
	 [Non-U.S. Lender]
  

	By:	 	  

		 	Name:
		 	Title:
	  
 [Address]

 Dated:
                        , 20 [     ] 

  
 Exhibit E-1 – Page 2

 Exhibit E-2 to Credit Agreement 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Debtor-In-Possession Credit Agreement, dated as of June [•], 2016 (as amended, restated, amended and
restated, supplemented or otherwise modified from time to time) (the “Credit Agreement”), among Warren Resources, Inc., a Maryland limited partnership (the “Borrower”), the financial institutions or other entities
from time to time parties thereto (collectively, the “Lenders”), and Wilmington Trust, National Association, as the Administrative Agent. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to
them in the Credit Agreement. 
 Pursuant to the provisions of Section 2.13(f)(ii)(B)(4) of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole
beneficial owners (within the meaning of Treasury Regulations Section 1.1441-1(c)(6)) of payments on such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) neither the undersigned nor any of its direct or indirect
partners/members claiming the benefit of the portfolio interest exemption is a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members claiming the benefit of the
portfolio interest exemption is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its direct or indirect partners/members claiming the benefit of the portfolio interest exemption
is a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) no payments in connection with any Financing Document are effectively connected with the conduct by the
undersigned or its direct or indirect partners/members claiming the benefit of the portfolio interest exemption of a U.S. trade or business (the certifications stating (iii)-(vi), a “Portfolio Interest Certificate”). 

The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by (i) an IRS Form W-8IMY from
each of its direct or indirect partners/members that are partnerships and (ii) an IRS Form W-8BEN (or applicable successor IRS Form) and Portfolio Interest Certificate from each of its direct or indirect partners/members claiming the portfolio
interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent in writing and
(2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding each such payment. 
 [Signature Page Follows] 

  
 Exhibit E-2 – Page 1

 
			
	[Non-U.S. Lender]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[Address]

 Dated:
                        , 20[    ] 

  
 Exhibit E-2 – Page 2

 Exhibit E-3 to Credit Agreement 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Debtor-In-Possession Credit Agreement, dated as of June [•], 2016 (as amended, restated, amended and
restated, supplemented or otherwise modified from time to time) (the “Credit Agreement”), among Warren Resources, Inc., a Maryland limited partnership (the “Borrower”), the financial institutions or other entities
from time to time parties thereto (collectively, the “Lenders”), and Wilmington Trust, National Association, as the Administrative Agent. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to
them in the Credit Agreement. 
 Pursuant to the provisions of Section 2.13(f)(ii)(B)(4) and Section 11.6(b) of the Credit
Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a “controlled foreign corporation” related to the
Borrower as described in Section 881(c)(3)(C) of the Code, and (v) no payments in connection with any Financing Document are effectively connected with the undersigned’s conduct of a U.S. trade or business. 

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

 [Signature Page Follows] 

  
 Exhibit E-3 – Page 1

 
			
	[Non-U.S. Participant]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[Address]

 Dated:
                        , 20[    ] 

 

  
 Exhibit E-3 – Page 2

 Exhibit E-4 to Credit Agreement 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Debtor-In-Possession Credit Agreement, dated as of June [•], 2016 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time) (the “Credit Agreement”), among Warren Resources, Inc., a Maryland limited partnership (the “Borrower”), the financial institutions or other entities from time
to time parties thereto (collectively, the “Lenders”), and Wilmington Trust, National Association, as the Administrative Agent. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the
Credit Agreement. 
 Pursuant to the provisions of Section 2.13(f)(ii)(B)(4) and Section 11.6(b) of the Credit Agreement, the
undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners (within the meaning of
Treasury Regulations Section 1.1441-1(c)(6)) of payments on such participation, (iii) neither the undersigned nor any of its direct or indirect partners/members claiming the benefit of the portfolio interest exemption is a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members claiming the benefit of the portfolio interest exemption is a ten percent shareholder of the Borrower within the meaning of
Section 871(h)(3)(B) of the Code, (v) none of its direct or indirect partners/members claiming the benefit of the portfolio interest exemption is a “controlled foreign corporation” related to the Borrower as described in
Section 881(c)(3)(C) of the Code, and (vi) no payments in connection with any Financing Document are effectively connected with the conduct by the undersigned or its direct or indirect partners/members claiming the benefit of the portfolio
interest exemption of a U.S. trade or business (the certifications stating (iii)-(vi), a “Portfolio Interest Certificate”). 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by (i) an IRS Form W-8IMY from each of its direct
or indirect partners/members that are partnerships and (ii) an IRS Form W-8BEN (or applicable successor IRS Form) and Portfolio Interest Certificate from each of its direct or indirect partners/members claiming the portfolio interest exemption.
By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing and (2) the undersigned shall have at all times
furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding each such payment. 

[Signature Page Follows] 

  
 Exhibit E-4 – Page 1

 
			
	[Non-U.S. Participant]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[Address]

 Dated:
                        , 20[    ] 

 

  
 Exhibit E-4 – Page 2

 Exhibit F to Credit Agreement 

[FORM OF] 
 NOTE 

FOR VALUE RECEIVED, the undersigned, a Maryland corporation (the “Borrower”), hereby promises to pay to
            or registered assigns (the “Lender”), in accordance with the provisions of the Credit Agreement (as hereinafter defined), the principal amount of each Loan from
time to time made by the Lender to the Borrower under that certain Debtor-In-Possession Credit Agreement, dated as of June [•], 2016 (as amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time
to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined), among the Borrower, the Lenders from time to time party thereto and Wilmington Trust, National Association, as the Administrative
Agent. 
 The Borrower promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal
amount is paid in full, at such interest rates and at such times as provided in the Credit Agreement. All payments of principal and interest shall be made to the Administrative Agent for the ratable account of the Lender in Dollars in immediately
available funds by wire transfer to the Payment Account. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as
well as after judgment) computed at the per annum rate set forth in Section 2.7 of the Credit Agreement. This Note is subject to mandatory prepayments and to voluntary prepayments and to all other terms and conditions as provided in the Credit
Agreement. 
 This Note is one of the promissory notes referred to in the Credit Agreement and is entitled to the benefits thereof. This
Note is also entitled to the benefits of the other Financing Documents and is secured by the Collateral. Upon the occurrence and continuation of one or more of the Events of Default specified in the Credit Agreement, all amounts then remaining
unpaid on this Note shall become, or may be declared to be, immediately due and payable all as provided in the Credit Agreement. Loans made by the Lender shall be evidenced by an account or accounts maintained by the Lender and by the register and
subaccounts maintained by the Administrative Agent in accordance with the Credit Agreement. The Lender may also attach schedules to this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 

The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand,
dishonor and non-payment of this Note. 
 No failure to exercise and no delay in exercising, on the part of the Administrative Agent, any
right, remedy, power or privilege hereunder or under the Financing Documents shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or privilege. A waiver by the Administrative Agent of any right, 

  
 Exhibit F – Page 1

 
remedy, power or privilege hereunder or under any Financing Document on any one occasion shall not be construed as a bar to any right or remedy that the Administrative Agent would otherwise have
on any future occasion. The rights, remedies, powers and privileges herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any rights, remedies, powers and privileges provided by law. 

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

IN WITNESS WHEREOF, this Note is executed as of the date set forth above. 

 

			
	WARREN RESOURCES, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit F – Page 2

 Exhibit C 

Interim Financing Order 

 IN THE UNITED STATES BANKRUPTCY COURT 

FOR THE SOUTHERN DISTRICT OF TEXAS 

HOUSTON DIVISION 
  

							
	  

In re:
  

WARREN RESOURCES, INC., et al.,1

 

            Debtors.
	 	 
  
  

 
  

 
	)
 )

)
 )

)
 )
	  
   

  
   

  
   
	  	  
 Chapter 11

 
 Case No. 16-32760

	 	 	 	)	  	  	(Joint Administration Requested)

 INTERIM ORDER (A) AUTHORIZING USE OF CASH 

COLLATERAL ON AN INTERIM AND FINAL BASIS; (B) GRANTING 

LIENS AND PROVIDING SUPERPRIORITY ADMINISTRATIVE 

EXPENSE STATUS, (C) GRANTING ADEQUATE PROTECTION, 

(D) MODIFYING AUTOMATIC STAY, AND (E) SCHEDULING A FINAL HEARING 

[This Order Relates to the Motion at Docket No.     ] 

 
  

Upon the emergency motion (the “Motion”),2 of the above-captioned
debtors and debtors in possession (each, a “Debtor,” and, collectively, the “Debtors”) in the above-captioned cases (collectively, the “Chapter 11 Cases”), for entry of an interim order (this
“Interim Order”) (a) authorizing use of cash collateral on an interim basis; (b) granting liens and providing superpriority administrative expense status; (c) granting adequate protection; (d) modifying automatic
stay; and (e) scheduling a final hearing, all as more fully set forth in the Motion; and the interim hearing on the Motion having been held before this Court on June 3, 2016 (the “Interim Hearing”); and this Court having
reviewed the Motion, the Declaration of James A. Watt, President, Chief Executive Officer and Chief Restructuring Officer of Warren Resources, Inc., et al, in Support of Chapter 11 Petitions and First Day Motions filed in connection with
the 
  

	1 	The Debtors in these cases, along with the last four digits of each Debtor’s federal tax identification number (if any), are: (i) Warren Resources, Inc. (4080); (ii) Warren E&P, Inc. (4052);
(iii) Warren Resources of California, Inc. (0072); (iv) Warren Marcellus, LLC (0150); (v) Warren Energy Services, LLC (4748); and (vi) Warren Management Corp. The Debtors’ service address is: 11 Greenway Plaza, Suite 3050,
Houston, Texas 77046. 

	2 	 All capitalized terms used but not defined herein shall have the meanings ascribed to them in the Prepetition
First Lien Credit Agreement (as defined herein). 

 
Motion and the evidence submitted or adduced, and the arguments of counsel made, at the Interim Hearing; and this Court having determined that the legal and factual bases set forth in the Motion
and at the Interim Hearing establish just cause for the relief granted herein; and upon all of the proceedings had before this Court and after due deliberation and consideration, and good and sufficient cause appearing therefor, THIS COURT HEREBY
FINDS AND CONCLUDES AS FOLLOWS:3 
 A. Commencement of Cases. On
June 2, 2016 (the “Petition Date”), each of the Debtors filed with this Court a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). The Debtors are
operating their businesses and managing their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. The Office of the United States Trustee for the Southern District of Texas (the “U.S.
Trustee”) has not appointed an official committee of unsecured creditors in the Chapter 11 Cases (such committee, if any, the “Committee”). No party requested the appointment of an examiner or trustee in the
Chapter 11 Cases. 
 B. Jurisdiction; Venue. This Court has jurisdiction over the Chapter 11 Cases and the Motion pursuant to 28
U.S.C. §§ 157(b) and 1334. Consideration of the Motion constitutes a core proceeding pursuant to 28 U.S.C. § 157(b)(2). The statutory predicates for the relief sought herein are sections 105, 361, 362, 363, 502, 506, 507, 510, 546,
and 551 of the Bankruptcy Code rules 2002, 4001, and 9014 of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”), and the Court’s Procedures for Complex Chapter 11 Bankruptcy Cases, dated as of
January 20, 2009 (the “Complex Case Procedures”). Venue of the Chapter 11 Cases in this district is proper pursuant to 28 U.S.C. §§ 1408 and 1409. 

 

	3 	Pursuant to Bankruptcy Rule 7052, any findings of fact contained herein that may be construed as matters of law shall be treated as conclusions of law as if set forth below, and vice versa. 

  
 2 

 C. Notice. On the Petition Date, the Debtors filed the Motion with this Court and pursuant
to Bankruptcy Rules 2002, 4001, and 9014, and the Local Bankruptcy Rules of this Court, the Debtors provided notice of the Motion to the following parties and/or to their counsel as indicated below (collectively, the “Notice
Parties”): (a) the Office of the United States Trustee for the Southern District of Texas; (b) counsel for the Prepetition First Lien Lenders; (c) the Prepetition First Lien Agent; (d) counsel for the Prepetition Second
Lien Lenders; (e) the Prepetition Second Lien Agent; (f) counsel for the ad hoc group of Senior Noteholders; (g) the indenture trustee for the Senior Notes; (h) the 30 largest unsecured non-insider creditors of the Debtors (on a
consolidated basis); (j) the Internal Revenue Service; (k) any persons who have filed a request for notice pursuant to Bankruptcy Rule 2002; and (l) the Securities and Exchange Commission. 

D. Prepetition Indebtedness: Prepetition First Lien Credit Documents. Subject to paragraphs 16 and 17 of this Interim Order, the
Debtors admit, stipulate, and agree as follows: 
 i. Prepetition First Lien Credit Agreement. Warren Resources, Inc.
(the “Parent Debtor”), as borrower, Wilmington Trust, N.A., as administrative agent (in its capacity as such, the “Prepetition First Lien Agent”), and the lenders party thereto (in their respective capacities
as such, the “Prepetition First Lien Lenders”) are parties to that certain credit agreement dated as of May 22, 2015 (as amended, restated, supplemented, or otherwise modified from time to time, the “Prepetition
First Lien Credit Agreement,” and, together with all Financing Documents (as defined in the Prepetition First Lien Credit Agreement), in each case as amended, restated, supplemented or otherwise modified from time to time, collectively, the
“Prepetition First Lien Credit Documents”). The Debtors, the Prepetition First Lien Agent, and the Prepetition First Lien Lenders are among the parties to the Restructuring Support Agreement, dated as of June 2, 2016 (as
amended, modified or supplemented from time to time in accordance with the terms thereof, the “RSA”). 

  
 3 

 ii. Prepetition First Lien Indebtedness. The principal amount of the obligations owed by
the Obligor Debtors (as defined below), on a joint and several basis, to the Prepetition First Lien Agent and Prepetition First Lien Lenders under the Prepetition First Lien Credit Agreement, exclusive of accrued but unpaid interest, costs, fees and
expenses, was not less than $248,014,432.14 as of the Petition Date. All obligations of the Obligor Debtors arising under or in connection with the Prepetition First Lien Credit Agreement (including the “Obligations” as defined in the
Prepetition First Lien Credit Agreement) or any other Prepetition First Lien Credit Document shall collectively be referred to herein as the “Prepetition First Lien Indebtedness.” 

iii. First Lien Guarantee. Pursuant to a Guarantee and Collateral Agreement, dated as of May 22, 2015, Debtors Warren Resources of
California, Inc., Warren Marcellus LLC, and Warren E&P, Inc. (collectively, the “Debtor Guarantor Parties” and together with the Parent Debtor, the “Obligor Debtors”) each unconditionally guaranteed, jointly and
severally, to the Prepetition First Lien Agent and the Prepetition First Lien Lenders the punctual and complete performance, payment and satisfaction when due and at all times thereafter of all of the Prepetition First Lien Indebtedness. 

iv. Prepetition First Liens, Prepetition Collateral. Pursuant to the Security Documents and other Financing Documents (as such terms
are defined in the Prepetition First Lien Credit Agreement), the Prepetition First Lien Agent was granted, for its benefit and the benefit of the Prepetition First Lien Lenders and the other Secured Parties (as such term is defined in the
Prepetition First Lien Credit Agreement), first-priority and properly perfected 

  
 4 

 
continuing liens, mortgages, and security interests (subject to liens expressly permitted under the Security Documents and other Financing Documents (as such terms are defined in the Prepetition
First Lien Credit Agreement)) on and in the Prepetition Collateral (as defined below in this sub-paragraph) to secure the repayment of the Prepetition First Lien Indebtedness. Such liens, mortgages, and security interests of the Prepetition First
Lien Agent on and in the Prepetition Collateral are referred to herein as the “Prepetition First Liens.” The “Prepetition Collateral” shall mean the “Collateral” (as defined in the Prepetition First
Lien Credit Agreement). 
 E. Prepetition Indebtedness: Prepetition Second Lien Credit Documents. Without prejudice to the rights of
any other party, but subject to paragraphs 16 and 17 of this Interim Order, the Debtors admit, stipulate and agree as follows: 
 i.
Prepetition Second Lien Credit Agreement. The Parent Debtor, as borrower, Cortland Products Corp., as administrative agent (in its capacity as such, the “Prepetition Second Lien Agent”), and the lenders party thereto (in
their respective capacities as such, the “Prepetition Second Lien Lenders”) are parties to that certain credit agreement, dated as of October 22, 2015 (as amended, restated, supplemented or otherwise modified from time to time,
the “Prepetition Second Lien Credit Agreement,” and, together with all Financing Documents (as defined in the Prepetition Second Lien Credit Agreement), in each case as amended, restated, supplemented or otherwise modified from time
to time, collectively, collectively, the “Prepetition Second Lien Credit Documents”). 
 ii. Prepetition Second Lien
Indebtedness. The principal amount of the obligations owed by the Obligor Debtors, on a joint and several basis, to the Prepetition Second Lien Agent and Prepetition Second Lien Lenders under the Prepetition Second Lien Credit

  
 5 

 
Agreement, exclusive of accrued but unpaid interest, costs, fees, and expenses, was not less than $52,000,000 as of the Petition Date. All obligations of the Debtors arising under or in
connection with the Prepetition Second Lien Credit Agreement (including the “Obligations” as defined in the Prepetition Second Lien Credit Agreement) or any other Prepetition Second Lien Credit Document shall collectively be referred to
herein as the “Prepetition Second Lien Indebtedness.” 
 iii. Second Lien Guarantee. Pursuant to a Guarantee and
Collateral Agreement, dated as of October 22, 2015, the Debtor Guarantor Parties unconditionally guaranteed, jointly and severally, to the Prepetition Second Lien Agent and the Prepetition Second Lien Lenders the punctual and complete
performance, payment and satisfaction when due and at all times thereafter of all of the Prepetition Second Lien Indebtedness. 
 iv.
Prepetition Second Liens. Pursuant to the Security Documents and other Financing Documents (as such terms are defined in the Prepetition Second Lien Credit Agreement), the Prepetition Second Lien Agent was purported to be granted, for its
benefit and the benefit of the Prepetition Second Lien Lenders, second priority and continuing liens, mortgages and security interests (subject to liens expressly permitted under the Security Documents and other Financing Documents (as such terms
are defined in the Prepetition Second Lien Credit Agreement)) on and in the Prepetition Collateral, subject to the Prepetition Intercreditor Agreement (as defined herein), to secure the repayment of the Prepetition Second Lien Indebtedness. Such
liens, mortgages and security interests (if any) of the Prepetition Second Lien Agent on and in the Prepetition Collateral are referred to herein as the “Prepetition Second Liens”. 

  
 6 

 F. Prepetition Intercreditor Agreement. Pursuant to that certain Intercreditor Agreement
dated as of October 22, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Prepetition Intercreditor Agreement”), the Prepetition Second Liens (if any) are junior and subordinate in all
respects to the Prepetition First Liens on and in the Prepetition Collateral, in each case notwithstanding the date, manner or order of grant, attachment or perfection of any such liens and notwithstanding any provision of the Uniform Commercial
Code or any other applicable law to the contrary. 
 G. Cash Collateral. Solely for purposes of this Interim Order, “Cash
Collateral” shall mean and include all “cash collateral” as defined by section 363(a) of the Bankruptcy Code and shall include and consist of all right, title, and interest in the Debtors’ cash, if any, that constitutes
Pre-Petition Collateral in which any of the Prepetition First Lien Agent or Prepetition First Lien Lenders has an interest. 
 H. Exigent
Circumstances. If the Debtors’ use of Cash Collateral were to be discontinued, their business operations would be severely disrupted and they would be unable to pay operating expenses, including for necessary products and payroll, thereby
severely impairing the value of the Prepetition Collateral and other assets of their estates. Accordingly, the Debtors and their estates will suffer immediate and irreparable harm unless the Debtors are immediately authorized to use Cash Collateral
on terms and conditions set forth herein. 
 I. Consent to Entry of this Interim Order. The Prepetition First Lien Agent and the
Prepetition First Lien Lenders consent to (and pursuant to the Prepetition Intercreditor Agreement, the Prepetition Second Lien Agent and the Prepetition Second Lien Lenders are prohibited from contesting the use of) the Debtors’ use of Cash
Collateral and other Prepetition Collateral, in each case solely on the terms and conditions set forth in this Interim Order 

  
 7 

 
(including in accordance with the Approved Budget, subject to and including any Permitted Variances). Nothing in this Interim Order, including any of the provisions herein with respect to
adequate protection, shall constitute, or be deemed to constitute, a finding or conclusion of law that the interests of the Prepetition First Lien Agent and Prepetition First Lien Lenders are, will be, or could be adequately protected with respect
to any non-consensual postpetition financing or use of Cash Collateral. The Prepetition First Lien Agent and Prepetition First Lien Lenders have agreed to permit the use of their Cash Collateral and other Prepetition Collateral by the Debtors solely
to the extent provided in this Interim Order and the Approved Budget, subject to and including any Permitted Variances, and conditioned upon the entry of a final order (the “Final Order”) authorizing the Debtors to use cash
collateral and approving the Debtors’ entry into the proposed debtor-in-possession financing facility on the terms set forth in the form of Debtor-In-Possession Credit Agreement annexed as an exhibit to the RSA no later than 45 days after the
Petition Date, which order shall be acceptable to the Prepetition First Lien Agent and the Debtors and reasonably acceptable to the Required Consenting Senior Noteholders (as defined in the RSA). 

J. Good Faith. The Prepetition First Lien Agent and the Prepetition First Lien Lenders and their respective affiliates, subsidiaries,
parents, officers, shareholders, directors, employees, investment advisers and sub-advisers, attorneys, and agents have acted in good faith in consenting or not otherwise objecting to the use of Cash Collateral by the Debtors. The agreements and
arrangements authorized in this Interim Order have been negotiated at arms’ length with all parties represented by experienced counsel, are fair and reasonable under the circumstances, are enforceable in accordance with their terms and have
been entered into in good faith. Accordingly, any use of Cash Collateral and other Prepetition Collateral used by the Debtors shall be deemed to have been negotiated in good faith. 

  
 8 

 K. Approved Budget. Attached hereto as Exhibit A is a summary of the budget
setting forth the Debtors’ anticipated cash receipts and expenditures during each week through August 26, 2016 (the “Initial Approved Budget”). The “Approved Budget” shall mean the Initial Approved
Budget, together with the thirteen-week budget, in form and substance acceptable to the Prepetition First Lien Agent (such budget, together with the Initial Approved Budget, the “Approved Budget”), which shall reflect the
Debtors’ good-faith projection of all weekly cash receipts and disbursements in connection with the operation of the Debtors’ business during such thirteen-week period, delivered on the fourth business day of each fourth week, commencing
with Thursday, June 9, 2016, delivered by the Debtors to the Prepetition First Lien Agent, counsel to the Prepetition First Lien Lenders and counsel to the Consenting Senior Noteholders. 

L. Validity and Allowance of Prepetition Indebtedness. Without prejudice to the rights of any other party, but subject to paragraphs 16
and 17 of this Interim Order, the Debtors admit, stipulate and agree that, on and as of the Petition Date: 
 i. the Prepetition First Lien
Credit Documents are valid and binding agreements and obligations of the Obligor Debtors party thereto and will continue in full force and effect notwithstanding any use of Cash Collateral permitted hereunder; 

ii. the Prepetition First Lien Indebtedness is an allowed claim against each of the Obligor Debtors under section 502(a) of the Bankruptcy
Code, without defense, counterclaim or offset of any kind, in an aggregate principal amount of not less than as set forth in this Interim Order above, plus all accrued and hereafter accruing and unpaid interest, costs, fees, and expenses
related thereto (including, for the avoidance of doubt, any Make-Whole Amount (as defined in the Prepetition First Lien Credit Agreement); 

  
 9 

 iii. the Prepetition First Liens constitute valid, binding, enforceable, and perfected first
priority liens and security interests on and in the Prepetition Collateral, senior and superior in all respects to the Prepetition Second Liens (if any) and subject only to the Prior Liens (as defined herein), and are not subject to avoidance,
reduction, disallowance or subordination pursuant to the Bankruptcy Code or applicable non-bankruptcy law (except insofar as such liens are subordinated to the Carve Out (as defined herein) in accordance with the provisions of this Interim Order);

 iv. no portion of the Prepetition First Lien Indebtedness, or any amounts previously paid to the Prepetition First Lien Agent or any
Prepetition First Lien Lender on account of or with respect the Prepetition First Lien Indebtedness, are subject to avoidance, reduction, disgorgement, disallowance, offset, impairment, or subordination pursuant to the Bankruptcy Code or applicable
non-bankruptcy law; and 
 v. the Debtors have no valid claims (as such term is defined in section 101(5) of the Bankruptcy Code) or causes
of action against any of the Prepetition First Lien Agent or Prepetition First Lien Lenders or their respective affiliates, subsidiaries, parents, officers, shareholders, directors, employees, investment advisers and sub-advisers, attorneys, and/or
agents (in each, solely in their respective capacities as such) with respect to the Prepetition First Lien Credit Documents, whether arising at law or at equity, including any disgorgement, recharacterization, subordination, avoidance, or otherwise
under or pursuant to the Bankruptcy Code or applicable non-bankruptcy law. 

  
 10 

 M. Reservation of Rights. Subject to paragraphs 16 and 17 of this Interim Order, none of
the foregoing acknowledgments or agreements by the Debtors shall be binding on any other party and shall not affect the rights of the Debtors or the Committee (if any), person, or entity with respect to their rights to assert, pursue, or otherwise
allege any claims or causes of action against the Prepetition First Lien Agent or Prepetition First Lien Lenders. Notwithstanding anything in this Interim Order to the contrary, but subject to paragraph 16 and 17 below, the Debtors and all other
parties in interest reserve all of their respective rights as to the value of the Prepetition Collateral and may at any time during the Chapter 11 Cases seek and obtain a determination of this Court under section 506(a) of the Bankruptcy Code that
all or any portion of the Prepetition First Lien Indebtedness and/or Prepetition Second Lien Indebtedness constitute unsecured deficiency claims. 

N. Release. Upon entry of the Final Order, but subject to paragraphs 16 and 17 of this Interim Order, the Debtors hereby
forever, unconditionally and irrevocably release, discharge and acquit the Prepetition First Lien Agent and the Prepetition First Lien Lenders, and each of their respective successors, assigns, affiliates, subsidiaries, parents, officers,
shareholders, directors, employees, investment advisers and sub-advisers, attorneys, and agents, past, present and future, and their respective heirs, predecessors, successors, and assigns (collectively, the “Releasees”) of and from
any and all claims, controversies, disputes, liabilities, obligations, demands, damages, expenses (including the fees, costs, and expense of counsel), debts, liens, actions, and causes of action of any and every nature whatsoever, whether arising in
law or otherwise, and whether or not known or matured, arising out of or relating to, as applicable, the Prepetition First Lien Credit Agreement or the Prepetition Senior Liens and/or the transactions contemplated under this Interim Order including,
without limitation, (i) any “lender 

  
 11 

 
liability” or equitable subordination claims or defenses, (ii) any and all claims and causes of action arising under the Bankruptcy Code, and (iii) any and all claims and causes of
action with respect to the validity, priority, perfection, or avoidability of the Prepetition First Lien Credit Agreement, Prepetition Secured Obligations, and the Prepetition Senior Liens. Subject to paragraphs 16 and 17 of this Interim Order, the
Debtors further waive and release any defense, right of counterclaim, right of set-off, or deduction to the payment of the Prepetition Secured Obligations that the Debtors now have or may claim to have against the Releasees, arising out of,
connected with, or relating to any and all acts, omissions, or events occurring prior to the Bankruptcy Court entering this Interim Order and, if applicable, the Final Order. 

O. Immediate Entry of this Interim Order. The Debtors have requested immediate entry of this Interim Order pursuant to, and have
complied with, Bankruptcy Rule 4001(b)(2), Local Bankruptcy Rule 4001-2, and the Complex Case Procedures. For the reasons stated above and as stated on the record at the Interim Hearing, this Court concludes that immediate entry of this Interim
Order is in the best interests of the Debtors’ estates and creditors. 
 BASED UPON THE FOREGOING FINDINGS, STIPULATIONS, AND
CONCLUSIONS, AND UPON THE RECORD MADE BEFORE THIS COURT AT THE HEARING ON THE MOTION, AND GOOD AND SUFFICIENT CAUSE APPEARING THEREFOR, IT IS HEREBY ORDERED, ADJUDGED AND DECREED THAT: 

1. Motion Granted. The Motion is granted on an interim basis as set forth in this Interim Order. Subject to the terms hereof, this
Interim Order is valid immediately and is fully effective upon its entry. All objections to the entry of this Interim Order that have not been resolved or withdrawn are hereby overruled. This Court has and retains exclusive jurisdiction to enforce
this Interim Order according to its terms and conditions. 

  
 12 

 2. Authorization. The Debtors are authorized to use Cash Collateral solely in accordance
with and pursuant to the terms and provisions of this Interim Order until the occurrence of the Termination Declaration Date (as defined herein) and only to the extent provided herein and in accordance with the Approved Budget, subject to and
including any Permitted Variance. Notwithstanding the foregoing, if the Prepetition First Lien Agent (acting at the direction of the Prepetition First Lien Lenders4) permits the use of Cash
Collateral in excess of any terms and conditions set forth in this Interim Order (including the Approved Budget, subject to and including any Permitted Variance), such uses shall be entitled to the rights, priorities, benefits, and protections of
this Interim Order. Each Debtor shall be deemed to have expended any unencumbered cash of the Debtors that was available to it as of or after the Petition Date before expending any Cash Collateral. The Debtors are authorized to use Cash Collateral
in accordance with the Approved Budget in an amount that would not cause either: (a) Total Operating Disbursements (as defined in the Approved Budget) to exceed 115 percent of the amount expressly budgeted therefor in the Approved Budget for
any Testing Period5; or (b) the Total Net Cash Flow from Operations, exclusive of any Royalties (as each such term is defined in the Approved Budget), to exceed a 15 percent
unfavorable variance of the amount expressly budgeted therefor in the Approved Budget for any Testing Period (a “Permitted 

 

	4 	For purposes of this Interim Order, “Required Lenders” shall have the meaning ascribed to such term under the Prepetition First Lien Credit Agreement. Any action to be taken at the direction of the
Required Lenders (in their respective sole discretion pursuant to the Prepetition First Lien Credit Agreement). 

	5 	“Testing Period” means the two week period ending on the Testing Date; provided that to allow for timing variances associated with the receipt of hydrocarbon revenues, upon the Debtors providing
the Prepetition First Lien Agent with notice at least one business day prior to the delivery of a Variance Report, the Debtors may, in their sole discretion, extend the Testing Period applicable to such Variance Report so as to take into
consideration the Total Operating Disbursements made and Receipts (as such terms are defined in the Approved Budget) received during the two business days immediately following the Testing Date. “Testing Date” shall mean the last
business day of every week occurring after the Petition Date, which initial Testing Date shall be on June 17, 2016. The First Variance Report shall be delivered by the Debtors to the Prepetition First Lien Agent and Notice Parties on
June 23, 2016. 

  
 13 

 
Variance”). The “Permitted Variance” shall include any amounts set forth in clauses (a) and (b) of this paragraph that are not expended in a given Testing
Period, and such amounts shall carry forward into, and be available for use in, future Testing Periods. 
 3. Accounts. All Cash
Collateral, proceeds from the sale, transfer, or other disposition of any Prepetition Collateral, and all other proceeds of such Prepetition Collateral of any kind which is now or shall come into any Debtor’s possession, custody or control, or
to which any Debtor is now or shall become entitled, shall be promptly deposited in the same bank accounts (other than any “lockbox” or other restricted accounts) into which the collections and proceeds of the Prepetition Collateral were
deposited or expressly permitted to be deposited under the Prepetition First Lien Credit Agreement and for which the Prepetition First Lien Agent has Prepetition First Liens perfected pursuant to deposit account control agreements (the
“Deposit Accounts”). 
 4. Accounting of Cash Collateral. The Debtors shall, pursuant to section 363(c)(4) of the
Bankruptcy Code, account for all Cash Collateral which is now, and which may hereafter be, in their possession, custody, or control. The Prepetition First Liens in the Prepetition Collateral shall continue to attach to the Cash Collateral
irrespective of the commingling of the Cash Collateral with other cash of the Debtors. Any failure by the Debtors on or after the Petition Date to comply with the segregation requirements of section 363(c)(4) of the Bankruptcy Code in respect of any
Cash Collateral shall not be used as a basis to challenge the Prepetition First Lien Indebtedness, or the extent, validity, enforceability or perfected status of the Prepetition First Liens. 

5. Variance Reports; Permitted Variances. On the fourth business day of each week, commencing with Monday June 6, 2016, the
Debtors shall deliver to the Prepetition First Lien 

  
 14 

 
Agent, counsel to the Prepetition First Lien Lenders and counsel to the Consenting Senior Noteholders a variance report (a “Variance Report”), in form and substance consistent with
the format of the form of Initial Approved Budget and acceptable to the Prepetition First Lien Agent, detailing the following: (i) the aggregate receipts of the Debtors during the Testing Period and the aggregate Total Operating Disbursements
and other disbursements, in each case made by the Debtors during such Testing Period; and (ii) any variance (whether plus or minus and expressed as a percentage) (a) between the aggregate receipts of the Debtors during such Testing Period
against the aggregate receipts set forth in the most recently delivered Budget for such Testing Period (excluding in each case, any joint interest receipts) and (a) between the aggregate Total Operating Disbursements made during such Testing
Period by the Debtors against the aggregate Total Operating Disbursements set forth in the most recently delivered Budget for such Testing Period. 

6. Fees and Expenses of Agent and Lenders. The Debtors shall, from and after the Petition Date and in no event later than fourteen
(14) days after the Debtors’ receipt of a summary statement setting forth the applicable timekeepers, as well as the hours worked by and expenses incurred by such timekeepers, in connection with the Chapter 11 Cases (with copies provided
via electronic mail to the U.S. Trustee, counsel to the Prepetition First Lien Lenders, Stroock & Stroock & Lavan LLP, as counsel to the Consenting Senior Noteholders (as defined in the RSA) and counsel for the Committee, if any,
(collectively, the “Notice Parties”)), indefeasibly pay or reimburse, as and when due, the Prepetition First Lien Agent and the Required Lenders (as defined by the Prepetition First Lien Credit Agreement) for their respective
reasonable fees and out-of-pocket costs, expenses and charges payable or otherwise reimbursable under the Prepetition First Lien Credit Documents (collectively, the “Lender Professional Fees”), 

  
 15 

 
including the reasonable prepetition and postpetition fees, costs, and expenses of Lindquist & Vennum LLP, as counsel to the Prepetition First Lien Agent, Kirkland & Ellis LLP
and Zack Clement PLLC, each as counsel for the Required Lenders (as defined by the Prepetition First Lien Credit Agreement), and any other advisors or professionals retained by the Prepetition First Lien Agent or the Required Lenders (as defined by
the Prepetition First Lien Credit Agreement), as applicable, whether such fees, without the need for prior notice to or approval by the Court. The Debtors and Notice Parties may object to the reasonableness of the fees, costs and expenses included
in any such professional fee invoice; provided that, any such objection shall be barred and deemed waived unless filed with this Court and served on the applicable professional by 12:00 p.m., prevailing Central Time, on the date that is no
later than fourteen (14) days after the objecting party’s receipt of the applicable professional fee invoice. If such objection is timely received, the Debtors shall promptly pay the portion of such invoice not subject to such objection,
and this Court shall determine any such objection unless otherwise resolved by the applicable parties. Any hearing on an objection to payment of any fees, costs and expenses of the Prepetition First Lien Agent and the Required Lenders (as defined by
the Prepetition First Lien Credit Agreement) set forth in a professional fee invoice shall be limited to the reasonableness of the particular items or categories of the fees, costs and expenses which are the subject of such objection and whether the
Prepetition First Lien Agent is entitled to such fees, costs and expenses under the Prepetition First Lien Credit Documents or this Interim Order. For the avoidance of doubt, none of the fees, costs and expenses of the Prepetition First Lien Agent
and the Prepetition First Lien Lenders (as defined by the Prepetition First Lien Credit Agreement) shall be subject to Court approval or U.S. Trustee guidelines, and no recipient of any such payment shall be required to file with respect thereto any
interim or final fee application with this Court. 

  
 16 

 7. Swap Contracts. Swap Contracts. The Debtors will not enter into any Swap Contracts
other than Swap Contracts in respect of commodities (a) with Eligible Swap Counterparties, (b) with durations not to exceed 120 months at any time, and (c) the notional volumes for which (when aggregated with other commodity Swap
Contracts then in effect other than basis differential swaps on volumes already hedged pursuant to other Swap Contracts) do not exceed, as of the date such Swap Contract is executed, 85 percent of the Projected Oil and Gas Production from Proved
Developed Producing Reserves attributable to the Oil and Gas Properties for each month during the period during which such Swap Contract is in effect for each of crude oil and natural gas, calculated separately; provided that (x) such
limitations in clauses (a) and (b) do not apply to forward agreements requiring the physical delivery of Hydrocarbons and (y) such limitation in clause (c) shall not apply to Swap Contracts in respect of commodities that are
floor prices or puts for which no further payment obligation is owed by a Debtor and not in excess of 100 percent of Proved Developed Producing Reserves attributable to the Oil and Gas Properties for each month during the period during which such
Swap Contract is in effect for each of crude oil and natural gas, calculated separately. Not later than thirty (30) days after consummation of an Asset Disposition in respect of Oil and Gas Properties which, together with any other Asset
Dispositions of Oil and Gas Properties not theretofore taken into account in connection with this sentence, reduces by more than 5 percent the Debtors’ aggregate Projected Oil and Gas Production from Proved Developed Producing Reserves, the
Debtors will cause the notional volumes of Swap Contracts maintained by the Debtors in respect of commodities not to exceed in the aggregate the amounts that would be permitted under clause (c) of the preceding sentence if such Swap Contracts
were entered into immediately after giving effect to such Asset Disposition. 

  
 17 

 8. Postpetition Collateral Defined. As used in this Interim Order, the term
“Postpetition Collateral” means the Prepetition Collateral and all other prepetition and postpetition real and personal, tangible and intangible property and assets of each of the Debtors of any kind or nature whatsoever, wherever
located, whether now existing or hereafter acquired or arising, including all cash (including all Cash Collateral, wherever held), cash equivalents, bank accounts, accounts (other than, for the avoidance of doubt, any account established in
connection with the Carve Out) including all right, title, and interest of the Debtors, if any, other receivables, chattel paper, contract rights, Oil and Gas Properties, Hedging Agreements, Hydrocarbons, Hydrocarbon Interests, Mortgage Properties
(each as defined in the Prepetition First Lien Credit Agreement), oil and gas leasehold interests, inventory, instruments, documents, securities (whether or not marketable), equipment, goods, fixtures, real property interests, intellectual property,
general intangibles, investment property, supporting obligations, letter of credit rights, commercial tort claims, 100 percent of the capital stock of each Debtor’s direct and indirect domestic subsidiaries, all intercompany notes held by the
Debtors, trademarks, trade names, licenses, rights to payment including tax refund claims, and causes of action (including any and all avoidance actions under section 549 of the Bankruptcy Code in respect of the Prepetition Collateral and related
proceeds and recoveries from such actions), and in each case the proceeds, products, offspring, rents and profits of all of the foregoing, including insurance proceeds. The Postpetition Collateral shall not include the actions for preferences,
fraudulent conveyances, and other avoidance power claims under sections 544, 545, 547, 548, or 549 of the Bankruptcy Code or any applicable non-bankruptcy law (collectively, the “Avoidance
Actions”); 

  
 18 

 
provided that, upon entry of the Final Order, the Postpetition Collateral shall include the proceeds and recoveries from the Avoidance Actions (collectively, the “Avoidance Action
Proceeds”). 
 9. Prior Lien Defined. As used in this Interim Order, the term “Prior Liens” means only
valid, enforceable, and non-avoidable liens and security interests in the Prepetition Collateral or any other property or assets of the Debtors that were perfected prior to the Petition Date (or perfected on or after the Petition Date to the extent
permitted by Section 546(b) of the Bankruptcy Code), to the extent not subject to avoidance, disallowance, or subordination pursuant to the Bankruptcy Code or applicable non-bankruptcy law and which (a) with respect to the Prepetition
First Liens are senior in priority to the Prepetition First Liens and (b) with respect to the Prepetition Second Liens are senior in priority to the Prepetition Second Liens, in each case under applicable law and after giving effect to any lien
release, subordination or inter-creditor agreements. For the avoidance of doubt, the Prior Liens shall not include, or be deemed to include, any or all of the Prepetition First Liens, Adequate Protection First Liens (as defined herein), Prepetition
Second Liens and/or Adequate Protection Second Liens (as defined herein). All parties retain and reserve all their rights to dispute the validity, priority, enforceability and perfection of any asserted Prior Lien. 

10. Adequate Protection First Lien Obligations. As adequate protection for the Prepetition First Lien Agent’s interest in the
Prepetition Collateral, the Prepetition First Lien Agent and Prepetition First Lien Lenders are hereby granted the following (but only to the extent of the diminution in the value of the Prepetition Collateral from and after the Petition Date as
provided in this Interim Order): 

  
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 a. Replacement Liens. Pursuant to sections 361(2), 362, 363(c)(2), and 363(e) of the
Bankruptcy Code, the Prepetition First Lien Agent, for its benefit and the benefit of the Prepetition First Lien Lenders, is hereby granted by each Debtor continuing valid, binding, enforceable, and perfected first priority liens and security
interests in and on all of the Postpetition Collateral, including, subject to entry of the Final Order, the Avoidance Action Proceeds (the “Adequate Protection First Liens”). The Adequate Protection First Liens shall be subordinate
only to the Prepetition First Liens, the Prior Liens (if any) and the Carve Out and shall be senior and superior to the Prepetition Second Liens and Adequate Protection Second Liens (if any). The Adequate Protection First Liens shall not be subject
or junior to any lien or security interest that is avoided and preserved for the benefit of the Debtors’ estates under section 551 of the Bankruptcy Code. 

b. Adequate Protection First Lien Claim. Pursuant to sections 503(b) and 507(b) of the Bankruptcy Code, the Prepetition First Lien
Agent and the Prepetition First Lien Lenders shall have an allowed administrative expense claim and such claim will be a superpriority administrative expense claim in accordance with section 507(b) of the Bankruptcy Code (the “Adequate
Protection First Lien Claim”) against each Debtor and its respective estate on a joint and several basis. The Adequate Protection First Lien Claim shall be subordinate only to the Carve Out and shall be senior and superior in right of time
and payment to the Prepetition Second Lien Indebtedness and the Adequate Protection Second Lien Claim (as defined herein). The Adequate Protection First Lien Claim shall be payable from, and have recourse to, the Postpetition Collateral, including,
subject to entry of the Final Order, the Avoidance Action Proceeds. 

  
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 c. Adequate Protection Payments. The Prepetition First Lien Agent shall receive additional
adequate protection in the form of the following payments: (i) the current payment of the Lender Professional Fees; and (ii) until repayment in full of the Prepetition First Lien Facility Obligations, payment of all accrued and unpaid
interest at the contractual rate set forth in the Prepetition First Lien Credit Agreement at the time set forth in the Prepetition First Lien Credit Agreement. 

d. Adequate Protection First Lien Obligations. The Adequate Protection First Liens and the Adequate Protection First Lien Claim shall
secure the payment of the Prepetition First Lien Indebtedness in an amount equal to any diminution in the value of the Prepetition Collateral from and after the Petition Date (the “Adequate Protection First Lien Obligations”)
resulting from the following: (a) the use by the Debtors of the Prepetition Collateral, including the Cash Collateral; (b) the imposition of the automatic stay pursuant to section 362(a) of the Bankruptcy Code; (c) the physical
deterioration, consumption, use, sale, lease, disposition, or shrinkage of the Prepetition Collateral; or (d) the imposition and use of the Carve Out (to the extent that the Carve Out is funded following the issuance of a Carve Out Trigger
Notice). Other than the Carve Out and the Prior Liens (if any), no other claims, administrative expenses, liens or security interests, whether for postpetition financing, adequate protection or otherwise (and whether or not such claims or
administrative expenses may become secured by a judgment lien or other nonconsensual lien, levy, or attachment), shall be senior or equal to or pari passu with the Prepetition First Liens, Adequate Protection First Liens or Adequate
Protection First Lien Claims in the Chapter 11 Cases or any other subsequent proceedings under the Bankruptcy Code, including any Chapter 7 proceeding (collectively, the “Successor Case”), without the express written consent
(including via email) of the Prepetition First Lien Agent (acting at the direction of the Required Lenders) or further order of this Court. 

  
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 11. Adequate Protection Second Lien Obligations. Solely to the extent that the Prepetition
Second Lien Indebtedness is secured, until the indefeasible repayment in full in cash of the Prepetition Second Lien Indebtedness, as adequate protection for the Prepetition Second Lien Agent’s interest (if any) in the Prepetition Collateral,
the Prepetition Second Lien Agent and Prepetition Second Lien Lenders are hereby granted the following (but only to the extent of the diminution in the value of the Prepetition Second Lien Agent’s interests (if any) in the Prepetition
Collateral from and after the Petition Date as provided herein): 
 a. Replacement Liens. Pursuant to sections 361(2), 362,
363(c)(2), and 363(e) of the Bankruptcy Code, the Prepetition Second Lien Agent, for its benefit and the benefit of the Prepetition Second Lien Lenders, is hereby granted by each Debtor continuing valid, binding, enforceable, and perfected second
priority liens and security interests in and on all of the Postpetition Collateral, including, subject to entry of the Final Order, the Avoidance Action Proceeds (the “Adequate Protection Second Liens”). The Adequate Protection
Second Liens shall be junior and subordinate in all respects to the Carve Out, the Prior Liens (if any), the Prepetition First Liens, and the Adequate Protection First Liens. 

b. Adequate Protection Second Lien Claim. Pursuant to sections 503(b) and 507(b) of the Bankruptcy Code, the Prepetition Second Lien
Agent and the Prepetition Second Lien Lenders shall have an allowed administrative expense claim and such claim will be a superpriority administrative expense claim in accordance with section 507(b) of the Bankruptcy Code (the “Adequate
Protection Second Lien Claim”) against each Debtor and its respective estate on a joint and several basis. The Adequate Protection Second Lien Claim shall be junior 

  
 22 

 
and subordinate in right of time and payment to the indefeasible repayment in full in cash of the Carve Out, the Prepetition First Lien Indebtedness, and the Adequate Protection First Lien Claim.
The Adequate Protection Second Lien Claim shall be payable from, and have recourse to, the Postpetition Collateral, including, subject to entry of the Final Order, Avoidance Action Proceeds. 

c. Adequate Protection Second Lien Obligations. The Adequate Protection Second Liens and Adequate Protection Second Lien Claim shall
secure the payment of the Prepetition Second Lien Indebtedness in an amount equal to any diminution in the value of the Prepetition Second Lien Agent’s interests (if any) in the Prepetition Collateral from and after the Petition Date (the
“Adequate Protection Second Lien Obligations”) resulting from the following: (i) the use by the Debtors of the Prepetition Collateral, including the Cash Collateral, (ii) the imposition of the automatic stay pursuant to
section 362(a) of the Bankruptcy Code, (iii) the physical deterioration, consumption, use, sale, lease, disposition, or shrinkage of the Prepetition Collateral, or (iv) the imposition and use of the Carve Out (to the extent that the Carve
Out is funded following the issuance of a Carve Out Trigger Notice). 
 12. Perfection. The Adequate Protection First Liens and, to
the extent applicable, Adequate Protection Second Liens, shall be, and they hereby are, deemed duly perfected and recorded under all applicable federal or state or other laws as of the Petition Date, and no notice, filing, mortgage recordation,
novation, possession, control, further order, or other act, shall be required to effect such perfection and all liens on any Deposit Accounts or securities shall, pursuant to this Interim Order, and hereby are deemed to confer “control”
for purposes of sections 8-106, 9-104 and 9-106 of the New York Uniform Commercial Code as in effect on the date hereof or similar applicable laws. The Prepetition First Lien Agent may (acting at the 

  
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direction of the Required Lenders), but shall not be required to, file a certified copy of this Interim Order in any filing or recording office in any state, county or other jurisdiction in which
any Debtor has real or personal property and such filing or recording shall be accepted and shall constitute sufficient evidence of perfection of such applicable parties’ interests in the Postpetition Collateral at the time and on the date of
entry of this Interim Order, but with the priorities as set forth herein and notwithstanding the date, manner or order of grant, attachment or perfection of any such adequate protection liens. The Adequate Protection First Liens shall be deemed
legal, valid, binding, enforceable, and perfected liens, not subject to subordination, impairment or avoidance, for all purposes in the Chapter 11 Cases and any Successor Case. 

13. Preservation of Value; No Priming Liens. To obtain the consent of the Prepetition First Lien Agent and the Prepetition First Lien
Lenders to entry of this Interim Order, the Debtors’ use of Cash Collateral shall be conditioned upon the Debtors’ observance of and timely performance with the terms, provisions, covenants, and agreements specified in the Prepetition
First Lien Credit Documents pertaining to the maintenance, preservation, and inspection of the Prepetition Collateral, other than any terms, provisions, covenants, and agreements specified in the Prepetition First Lien Credit Documents related to
financial covenants. The Debtors shall also continue to timely (after giving effect to any applicable grace period) comply with the reporting obligations and requirements set forth in the Prepetition First Lien Credit Documents and, upon written
request (including via email) of the Prepetition First Lien Agent, shall use commercially reasonable efforts to provide the Prepetition First Lien Agent (and its professionals) with such other reporting and financial information as may be reasonably
available and requested by the Prepetition First Lien Agent from time to time. Except to the extent otherwise permitted by the Prepetition First Lien Credit Agreement or as expressly set 

  
 24 

 
forth in this Interim Order the Approved Budget, subject to and including any Permitted Variances, the Debtors shall not compromise or discount the amount, or extend the time for payment, of any
of their accounts receivable (by way of discount, offset or otherwise) without the prior written consent (including via email) of the Prepetition First Lien Agent (acting at the direction of the Required Lenders). Except to the extent approved in
writing (including via email) by the Prepetition First Lien Agent (acting at the direction of the Required Lenders), the Debtors shall not grant mortgages, security interests, or liens on or in the Postpetition Collateral to any party other than the
Prepetition First Lien Agent (or its designee) if such mortgages, security interests, or liens would be senior to or otherwise prime, or be pari passu with, the Prepetition First Liens or Adequate Protection First Liens, whether pursuant to
section 364(d) of the Bankruptcy Code, for adequate protection or otherwise, absent further order of the Court. 
 14. No Lien
Alteration. Subject to entry of the Final Order, the Prepetition First Lien Agent and the Prepetition First Lien Lenders shall not be subject to an “equities of the case” claim under section 552(b) of the Bankruptcy Code with respect
to any of their respective interests in the Prepetition Collateral. Accordingly, any valid, perfected and non-avoidable liens created by the Prepetition First Lien Credit Documents in any Prepetition Collateral shall attach with the same validity,
priority, and perfection in and to any and all proceeds of such Prepetition Collateral, subject to the Carve Out and Prior Liens (if any). 

15. Section 506(c) Waiver. Subject to entry of the Final Order, no costs or expenses of administration or other charge, lien,
assessment or claim incurred at any time (including any expenses set forth in the Approved Budget) by any Debtor or any other person or entity shall be imposed against any or all of the Prepetition First Lien Agent or the Prepetition First Lien
Lenders, their respective claims, or their respective collateral under Section 506(c) of the Bankruptcy Code or otherwise, and the Debtors, on behalf of their estates, waive any such rights. 

  
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 16. Restriction on Use of Cash Collateral. Notwithstanding anything in this Interim Order
to contrary, but subject to the last sentence of this paragraph, no more than $25,000 of the Prepetition Collateral, the Cash Collateral, or the Carve Out shall be used for the payment or reimbursement of Estate Professional Fees incurred in
connection with, or with respect to, any action, suit, arbitration, proceeding, application, motion, complaint, adversary proceeding, or other litigation of any type, kind, or nature whatsoever (or the investigation, preparation, or prosecution of
any of the foregoing) against any of the Prepetition First Lien Agent or Prepetition First Lien Lenders, including (a) to assert, commence, or prosecute any claims or causes of action whatsoever (whether for monetary or injunctive relief,
including any actions under chapter 5 of the Bankruptcy Code), (b) to prepare or prosecute an objection to, contest or challenge in any manner, or raise any defenses to, the validity, perfection, priority, or enforceability of any of their
respective claims, security interests, or liens in, on or against the Debtors or the Prepetition Collateral or seeking to invalidate, set aside, avoid, or subordinate, in whole or in part, any of such claims, security interests, or liens, or (c), to
object, contest, or interfere with in any way the enforcement or realization upon any of the Prepetition Collateral by any of the Prepetition First Lien Agent or Prepetition First Lien Lenders once the Termination Declaration Date has occurred. 

17. Preservation of Third-Party Rights. 

a. Subject to paragraph 16 of this Interim Order and the limitations specified in this paragraph 17 of this Interim Order, the stipulations,
admissions, releases, and waivers contained in paragraphs D, E, F, G, J, L, and N of this Interim Order (collectively, the 

  
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“Challenge Matters”) shall be binding on all Persons, entities, and parties in interest, including the Committee (if any) and any subsequent trustee of the Debtors’ estates,
whether in the Chapter 11 Cases or any Successor Case, unless, and solely to the extent that, any such party in interest with standing and requisite authority, has filed a complaint or other appropriate pleadings commencing an adversary proceeding
challenging or otherwise contesting the Challenge Matters (a “Challenge Proceeding”) prior to the “Action Filing Deadline,” which means the date that is the later of 60 days after the Petition Date and 45 days after
the appointment of the Committee (if any). For the avoidance of any doubt, the extent to which the Debtors’ cash constitutes Cash Collateral for purposes of this Interim Order shall not constitute a “Challenge Matter,” and all rights
with respect thereto are fully reserved and preserved. To the extent no such party in interest obtains standing (if necessary) and timely and properly commences such Challenge Proceeding prior to the Action Filing Deadline, then, without further
notice, motion, or application to, order of, or hearing before, this Court and without the need or requirement to file any proof of claim, the Challenge Matters shall become binding, conclusive, and final on the Committee (if any) and the Debtors
(and any subsequent trustee of the Debtors’ estates) and any other Person, entity or party in interest in the Chapter 11 Cases and any Successor Case, and the Prepetition First Lien Indebtedness and the Prepetition First Liens shall be deemed
enforceable, valid, non-avoidable, and perfected for all purposes in the Chapter 11 Cases and any Successor Case and shall not be subject to challenge or objection by any Person, entity, or other party in interest. 

b. Notwithstanding anything to the contrary herein, if any such Challenge Proceeding is properly and timely commenced, the Challenge Matters
shall nonetheless remain binding on all Persons, entities, and parties in interest and preclusive as provided in the foregoing sub-paragraph above except to the extent that such Challenge Matters are expressly challenged in such Challenge
Proceeding. 

  
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 c. Nothing in this Interim Order confers standing on any Person, entity, or party in interest
(including the Committee) to assert any claim on behalf of any Debtor or any estate of any Debtor, or relieves any Person, entity, or party in interest (including the Committee, if any) from any requirement under the Bankruptcy Code or otherwise to
obtain standing and authorization from this Court prior to asserting any claim on behalf of any Debtor or any estate of any Debtor; provided that, if a Committee timely files a motion with this Court seeking standing to bring such a claim or
challenge (the “Standing Action”) prior to the expiration of the Action Filing Deadline and the Committee thereafter diligently and in good faith pursues the prompt entry of a final order regarding such Standing Action, then the
Action Filing Deadline with respect to the Committee only (and no other Person or entity) will be tolled until ten (10) days after the date on which this Court enters an order granting or denying the Standing Action. 

18. Rights Reserved; No Waiver. The entry of this Interim Order is without prejudice to, and does not expressly or implicitly
constitute a waiver of, any of the following: (a) the right of the Prepetition First Lien Agent and the Prepetition First Lien Lenders to seek any other or supplemental relief in respect of any Debtor, including the right to seek additional
adequate protection; or (b) any of the rights of the Prepetition First Lien Agent and the Prepetition First Lien Lenders under the Bankruptcy Code or under non-bankruptcy law, including the right to: (i) request modification of the
automatic stay of section 362 of the Bankruptcy Code; (ii) request dismissal of any of the Chapter 11 Cases or a Successor Case, conversion of any of the Chapter 11 Cases to cases under chapter 7, or appointment of a chapter 11 trustee or
examiner with expanded powers; or (iii) propose, subject to the provisions of section 1121 of the Bankruptcy 

  
 28 

 
Code, a chapter 11 plan or plans. Except as specifically set forth herein regarding the use of Cash Collateral, nothing contained in this Interim Order shall be in lieu of, or limit, prejudice or
otherwise affect, any rights, claims, liens, security interests or priorities of the Prepetition First Lien Agent or the Prepetition First Lien Lenders under the Prepetition First Lien Credit Documents, the Prepetition Intercreditor Agreement, or
applicable law, and all such rights, claims, liens, security interests and priorities are reserved. Nothing in this Interim Order shall impair or modify the application of Section 507(b) of the Bankruptcy Code in the event that the adequate
protection provided to the Prepetition First Lien Agent or the Prepetition First Lien Lenders hereunder is insufficient during the Chapter 11 Cases or any Successor Case. 

19. Carve Out. 
 a. As
used in this Interim Order, the term “Carve Out” means the sum, without duplication, of the following: (i) the unpaid fees payable to the United States Trustee and Clerk of the Bankruptcy Court pursuant to Section 1930(a)
of Title 28 of the United States Code plus interest at the statutory rate (without regard to the notice set forth in clause (iii) below); (ii) all reasonable fees and expenses up to an aggregate amount of $50,000 incurred by a trustee
under section 726(b) of the Bankruptcy Code (without regard to the notice set forth in (iii) below); (iii) subject in all respects to the Approved Budget, to the extent allowed at any time by order of this Court, whether by interim order,
procedural order, or otherwise, all unpaid fees and expenses (the “Estate Professional Fees”) incurred by persons or firms retained by the Debtors pursuant to section 327, 328, or 363 of the Bankruptcy Code (collectively,
the “Debtor Professionals”), including any transaction fee(s) for the Debtors’ financial advisor and reasonable fees and costs for the Debtors’ board of directors, and the Committee (if any) appointed in the Chapter
11 Cases pursuant to section 1103 of the Bankruptcy Code (the 

  
 29 

 
“Committee Professionals,” and, together with the Debtor Professionals, the “Professional Persons”), which fees and expenses were incurred at any time before or
on the first business day following delivery by the Prepetition First Lien Agent of a Carve Out Trigger Notice (as defined below), whether allowed by order of this Court prior to or after delivery of a Carve Out Trigger Notice; (iv) Estate
Professional Fees in an aggregate amount not to exceed $500,000 (plus, solely with respect to the Debtor Professionals, any unused retainers held by the Debtor Professionals, for fees and expenses incurred after such date) incurred after the
first business day following delivery by the Prepetition First Lien Agent of the Carve Out Trigger Notice, to the extent allowed at any time by order of this Court, whether by interim order, procedural order, or otherwise (the amount set forth in
this clause (iv) being the “Post-Carve Out Trigger Notice Cap”); and (v) subject in all respects to the Approved Budget, all unpaid allowed administrative expenses incurred at any time before or on the first business
day following delivery by the Prepetition First Lien Agent of a Carve Out Trigger Notice. 
 b. For purposes of the foregoing,
“Carve Out Trigger Notice” shall mean a written notice delivered by electronic mail (or other electronic means) by the Prepetition First Lien Agent to the Debtors, their lead restructuring counsel and the Notice Parties, which
notice may be delivered following the occurrence and during the continuation of a Termination Event that is not cured by the Debtors or otherwise stayed or invalidated by the Court stating that the Post-Carve Out Trigger Notice Cap has been invoked.
On the day on which a Carve Out Trigger Notice is given by the Prepetition First Lien Agent to the Debtors, the Carve Out Trigger Notice shall constitute a demand to the Debtors to utilize all cash on hand as of such date and any available cash
thereafter held by any Debtor to fund a reserve in an amount equal to the then unpaid amount of Estate Professional Fees and the Post-Carve Out Trigger Notice Cap. The 

  
 30 

 
Debtors shall deposit and hold such amounts in a segregated account in trust to pay such then unpaid Professional Fees and the Carve Out Trigger Notice Cap (the “Pre-Carve Out Trigger
Notice Reserve”) prior to any and all other claims. 
 c. Payment of Estate Professional Fees Prior to the Carve Out Trigger
Notice. Any payment or reimbursement made prior to the delivery of the Carve Out Trigger Notice in respect of any Estate Professional Fees shall not reduce the Carve Out. 

d. Payment of Carve Out On or After Carve Out Trigger Notice. Any payment or reimbursement made on or after the delivery of the Carve
Out Trigger Notice in respect of any Estate Professional Fees shall permanently reduce the Carve Out on a dollar-for-dollar basis. 
 e.
Other Related Matters. Any funding or payment of the Carve Out shall be added to, and made a part of, the Prepetition First Lien Indebtedness secured by the Collateral and shall be otherwise entitled to the protections granted under this
Interim Order, the Prepetition First Lien Credit Documents, the Bankruptcy Code, and applicable law. 
 f. No Lender Guaranty.
Neither the Prepetition First Lien Agent nor the Prepetition First Lien Lenders shall be responsible for the direct payment or reimbursement of any of the Professional Persons incurred in connection with the Chapter 11 Cases or any Successor Case.
Nothing contained herein shall be construed: (i) to obligate the Prepetition First Lien Agent or the Prepetition First Lien Lenders in any way to pay compensation to or reimburse expenses of any Professional Persons or member of the Committee
(if any) other than to allow Cash Collateral to be used in accordance with this Interim Order, including, but not limited to, funding the Carve Out, or to guarantee that the Debtors have sufficient funds to pay such compensation or reimbursement; or
(ii) as a consent to the allowance of any professional fees or 

  
 31 

 
expenses of any Estate Professionals or shall affect the right of the Prepetition First Lien Agent or Prepetition First Lien Lenders to object to the allowance and payment of such fees and
expenses. 
 20. No Duty to Monitor Compliance. The Prepetition First Lien Agent and the Prepetition First Lien Lenders may assume
the Debtors will comply with this Interim Order and the Approved Budget and shall not: (a) have any obligation with respect to the Debtors’ use of Cash Collateral (other than its consent to the use of Cash Collateral in accordance with and
subject to terms of this Interim Order; (b) be obligated to directly pay any expenses incurred or authorized to be incurred pursuant to this Interim Order (including any amounts specified in the Approved Budget); or (c) be obligated to
ensure or monitor that sufficient Cash Collateral exists to pay any expenses incurred or authorized to be incurred pursuant to this Interim Order. 

21. Survival. The provisions of this Interim Order and any actions taken pursuant hereto shall: (a) survive the Termination
Declaration Date and entry of any order: (i) converting any of the Chapter 11 Cases to a case under chapter 7 of the Bankruptcy Code; (ii) substantively consolidating any of the Debtors or their respective estates; or (iii) dismissing
or closing any of the Chapter 11 Cases; and (b) shall continue in full force and effect notwithstanding the Termination Declaration Date or entry of any such order described in this paragraph. 

22. Effect of Modification or Appeal. Any subsequent stay, modification, reversal, amendment or vacatur of this Interim Order shall not
alter, modify, impair, or otherwise affect the validity, priority, perfection or enforceability of any claim, lien, or security interest of the Prepetition First Lien Agent, Prepetition First Lien Lenders, Prepetition Second Lien Agent, or
Prepetition Second Lien Lenders to the extent authorized, created or granted pursuant to this Interim Order and outstanding or existing immediately prior to the actual receipt of written 

  
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notice (including via email) by the Prepetition First Lien Agent and Prepetition Second Lien Agent of the effective date of such stay, modification, reversal, amendment or vacatur.
Notwithstanding any such stay, modification, reversal, amendment or vacatur, all uses of Cash Collateral and other Prepetition Collateral by the Debtors prior to the actual receipt of written notice (including via email) by the Prepetition First
Lien Agent and Prepetition Second Lien Agent of the effective date of such stay, modification, reversal, amendment or vacatur, shall be governed in all respects by the original provisions of this Interim Order and the Prepetition First Lien Agent,
Prepetition First Lien Lenders, Prepetition Second Lien Agent, and Prepetition Second Lien Lenders shall be entitled to all of the rights, privileges, remedies, protections and benefits granted herein and all rights provided by the Bankruptcy Code.

 23. No Marshaling. Subject to entry of the Final Order, the Prepetition First Lien Agent, Prepetition First Lien Lenders,
Prepetition Second Lien Agent, and Prepetition Second Lien Lenders shall not be subject to the equitable doctrine of “marshaling” with respect to any of its respective interests in the Postpetition Collateral and Prepetition Collateral.

 24. Prepetition Intercreditor Agreement. Pursuant to section 510 of the Bankruptcy Code, the Prepetition Intercreditor Agreement
(and any other subordination or intercreditor agreement) remains in full force and effect and is not, and shall not be deemed to be, amended, altered, impaired, or otherwise modified by this Interim Order or by the consummation of the transactions
contemplated hereby. Each of the Prepetition First Lien Agent and Prepetition First Lien Lenders expressly reserves any and all claims, causes of action, defenses, rights and remedies it has or may have pursuant to the Prepetition Intercreditor
Agreement or pursuant to any other lien release, inter-creditor or subordination agreement. 

  
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 25. No Liability to Third Parties. In making decisions to permit the Debtors to use Cash
Collateral, in approving any budget or in taking any actions permitted by this Interim Order, the Prepetition First Lien Agent, Prepetition First Lien Lenders, Prepetition Second Lien Agent, and Prepetition Second Lien Lenders (in their respective
capacities as such) shall not: (a) be deemed to be in control of the operations of any Debtor or to be acting as a “controlling person,” “responsible person” or “owner or operator” with respect to the operation or
management of any Debtor, and/or (b) owe any fiduciary duty to any Debtor, its respective creditors or its respective estate (or have any duty of trust or confidence with any of the foregoing), and their relationship with each Debtor shall not
constitute or be deemed to constitute a joint venture or partnership with such Debtor. 
 26. Default Under Other Documents;
Non-Bankruptcy Law. Except as otherwise expressly provided herein, notwithstanding anything to the contrary contained in any prepetition or postpetition agreement, contract, document, note, or instrument to which any Debtor is a party or under
which any Debtor is obligated or bound, any provision that restricts, conditions, prohibits, limits or impairs in any way any Debtor from granting the Prepetition First Lien Agent, Prepetition First Lien Lenders, Prepetition Second Lien Agent, or
Prepetition Second Lien Lenders the postpetition security interests or liens upon any of its assets, properties or other Postpetition Collateral or otherwise entering into and complying with all of the terms, conditions and provisions of this
Interim Order shall be unenforceable against such Debtor, and therefore, shall not adversely affect or impair the validity, priority, perfection or enforceability of the liens, security interests, claims, rights, priorities and/or protections
granted to such parties pursuant to this Interim Order. To the extent that any applicable non-bankruptcy law would otherwise restrict, condition, prohibit, limit or impair the grant, scope, enforceability, attachment or 

  
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perfection of the security interests and liens authorized or created under or in connection with this Interim Order, or otherwise would impose filing or registration requirements or fees and
charges with respect thereto, such law is hereby pre-empted to the maximum extent permitted by the United States Constitution, the Bankruptcy Code, applicable federal law, and the judicial power of the United States Bankruptcy Court; provided
that the Prepetition First Lien Agent and Prepetition Second Lien Agent may still take such steps as they wish to perfect their respective security interests and liens under otherwise applicable state law without waiving the benefits of this
provision of this Interim Order. 
 27. Termination Events; Modification of Automatic Stay. 

a. Immediately upon the occurrence and during the continuation of a Termination Event (as defined below), the Prepetition First Lien Agent
(acting at the direction of the Required Lenders) may deliver a written notice (including via email) of its intention to declare a termination of the Debtors’ ability and rights to use Cash Collateral on the consensual basis provided in this
Interim Order (any such declaration, a “Termination Declaration”), unless such Termination Event is waived in writing (including via email) by the Prepetition First Lien Agent in its sole discretion (acting at the direction of the
Required Lenders). The Termination Declaration shall be given by electronic mail to counsel to the Debtors and Notice Parties (the date any such Termination Declaration is given to each such party shall be referred to herein as the
“Termination Declaration Date”). Five (5) business days’ following the Termination Declaration Date, unless such Termination Event is waived in writing (including via email) by the Prepetition First Lien Agent in its sole
discretion (acting at the direction of the Required Lenders), cured by the Debtors, or otherwise stayed or invalidated by this Court, the authority and approval of the Debtors to use Cash Collateral pursuant to this Interim Order shall

  
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automatically terminate except to the extent Cash Collateral is needed to fund the Carve Out to the extent provided in this Interim Order, regardless of whether the Debtors have expended the
entire amount of Cash Collateral permitted by the Approved Budget, subject to and including any Permitted Variances, and any proposed use of Cash Collateral by the Debtors other than funding the Carve Out (to the extent provided in this Interim
Order) on and after the date that is five (5) business days after the Termination Declaration Date shall, subject to the remainder of this paragraph, be only pursuant to further order of this Court, with the objections and defenses of all
parties in interest reserved with respect thereto. 
 b. The automatic stay pursuant to section 362 of the Bankruptcy Code is hereby lifted
and vacated as to the Prepetition First Lien Agent and Prepetition First Lien Lenders to the extent necessary to permit them to perform in accordance with, provide any notice under, and exercise, enjoy, and enforce their respective rights, benefits,
privileges, and remedies pursuant to this Interim Order, including delivery of the Termination Declaration, in each case without further notice, motion or application to, order of, or hearing before, this Court; provided that any stay relief
with respect to the exercise of remedies by the Prepetition First Lien Agent and Prepetition First Lien Lenders against the Postpetition Collateral shall be in accordance with sub-paragraph (c) below or as otherwise ordered by this Court and
shall not impact the ability of the Debtors to use Cash Collateral to fund the Carve Out. 
 c. During the five (5) business days after
the Termination Declaration Date (the “Remedies Notice Period”), the Debtors shall be entitled to continue to use Cash Collateral in accordance with the terms of this Interim Order. Unless the Debtors cure, the Prepetition First
Lien Agent (acting at the direction of the Required Lenders) waives, or the Court otherwise stays or invalidates, the applicable Termination Event, the automatic stay shall automatically be 

  
 36 

 
terminated at the end of the Remedies Notice Period as to the Prepetition First Lien Agent and Prepetition First Lien Lenders without further notice to or order of this Court, and the Debtors
shall, other than to fund the Carve Out to the extent provided in this Interim Order, no longer have the right to use Cash Collateral unless otherwise ordered by the Court and the Prepetition First Lien Agent and Prepetition First Lien Lenders shall
be permitted to exercise any and all remedies set forth herein, in the Prepetition First Lien Credit Documents, and as otherwise available at law against the Postpetition Collateral, without further order of or notice, application or motion to this
Court, and without restriction or restraint by any stay under sections 362 or 105 of the Bankruptcy Code or otherwise. 
 d. As used in this
Interim Order, the term “Termination Event” shall mean any of the following events, in each case, unless waived or consented to in writing (including via email) by the Prepetition First Lien Agent (acting at the direction of the
Required Lenders): 
 i. 40 days following the Petition Date, unless this Court has entered the Final Order by such date; 

ii. the failure by any of the Debtors to comply with the Approved Budget (after giving effect to Permitted Variances) in accordance with and
pursuant to this Interim Order or any other material breach by any of the Debtors of the material terms or conditions of this Interim Order; 

iii. the RSA is terminated pursuant to its terms; 

iv. this Interim Order is stayed, reversed, vacated, amended, or modified, or any of the Debtors apply for, consent to, or acquiesce in, any
such relief, in each case; 

  
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 v. the entry of an order converting any of the Chapter 11 Cases to a case under chapter 7 of the
Bankruptcy Code, or any Debtor files a motion or pleading with this Court requesting, seeking, or otherwise supporting such conversion; 

vi. the dismissal of any of the Chapter 11 Cases, or any Debtor files a motion or pleading with this Court requesting, seeking, or otherwise
supporting such dismissal; 
 vii. the entry of an order appointing a trustee pursuant to section 1104 of the Bankruptcy Code, or any
Debtor files a motion or pleading with this Court requesting, seeking, or otherwise supporting such appointment; 
 viii. the entry of an
order appointing an examiner pursuant to section 1104(b) of the Bankruptcy Code with powers beyond those set forth in section 1106(a)(3) and (4) of the Bankruptcy Code, or any Debtor files a motion or pleading with this Court requesting,
seeking, or otherwise supporting such appointment; 
 ix. the entry of an order or orders granting relief from the automatic stay imposed
by section 362 of the Bankruptcy Code to any entity or entities, other than the Prepetition First Lien Agent or the Prepetition First Lien Lenders, to exercise remedies with respect to any material portion of the Postpetition Collateral with a value
in excess of $250,000, or any Debtor files a motion or pleading with this Court requesting, seeking, or otherwise supporting the entry of such order without the consent of the Prepetition First Lien Agent; 

x. the entry of an order or orders invalidating, impairing, or disallowing either the Prepetition First Lien Indebtedness or the
enforceability, priority, perfection, or validity of any of the Prepetition First Liens, unless (i) the debtors have sought a stay of such order within five (5) business days after the date of such issuance, and such order is stayed,
reversed or vacated within ten (10) business days after the date of such issuance, or (ii) the Prepetition First Lien Agent have consented to such order in writing (including via email); 

  
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 xi. any motion, pleading, or application is filed by any Debtor seeking the entry of an order,
or an order is entered in any of the Chapter 11 Cases, approving any debtor-in-possession financing for borrowed money which seeks to prime, or is pari passu with, the Prepetition First Liens and Prepetition First Lien Indebtedness, whether pursuant
to section 364 of the Bankruptcy Code or otherwise, unless (i) such financing and such order expressly provide for the indefeasible payment and complete satisfaction in full in cash of all Prepetition First Lien Indebtedness prior to, or
concurrently with, any initial borrowings under or in connection with such financing, or (ii) the Prepetition First Lien Agent consents to such filing in writing (including via email); 

xii. the Debtors pay any principal, interest, fees, costs, expenses, or other amounts to the Prepetition Second Lien Agent or any Prepetition
Second Lien Lender in their respective capacities as such; or 
 xiii. other than with respect to the Carve Out, any motion, pleading, or
application is filed by any of the Debtors seeking to grant, or the entry of any order granting, to any Person or entity, (A) any security interest or lien senior to, or equal or pari passu with, the Prepetition First Liens in the Prepetition
Collateral and/or the Adequate Protection First Liens in the Postpetition Collateral (in each case whether for adequate protection or otherwise), or (B) any claim or expense senior to, or equal or pari passu with, the Prepetition First Lien
Indebtedness and/or the Adequate Protection First Lien Claims (in each case whether for adequate protection or otherwise). 

  
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 28. Strict Compliance. The failure, at any time or times hereafter, of the Prepetition
First Lien Agent, Prepetition First Lien Lenders, Prepetition Second Lien Agent, or Prepetition Second Lien Lenders to require strict performance by the Debtors of any provision of this Interim Order shall not waive, affect or diminish any right of
such parties thereafter to demand strict compliance and performance therewith. No delay on the part of any party in the exercise of any right or remedy under this Interim Order shall preclude any other or further exercise of any such right or remedy
or the exercise of any other right or remedy. None of the rights or remedies of any party under this Interim Order shall be deemed to have been amended, modified, suspended or waived unless such amendment, modification, suspension or waiver is in
writing and signed by the party against whom such amendment, modification, suspension or waiver is sought. 
 29. Successors and
Assigns. The provisions of this Interim Order shall be binding upon and inure to the benefit of the Prepetition First Lien Agent, Prepetition First Lien Lenders, Prepetition Second Lien Agent, Prepetition Second Lien Lenders, and the Debtors and
their respective estates, and their respective successors and assigns, including any trustee or other fiduciary hereafter appointed as a legal representative of any of the Debtors or their estates, whether in the Chapter 11 Cases or in any Successor
Case. Except as expressly provided for herein, this Interim Order does not create any rights for the benefit of any creditor, equity holder, or other Person or entity, or any direct, indirect, or incidental beneficiary, other than the Prepetition
First Lien Agent and the Prepetition First Lien Lenders (and subject to the Prepetition Intercreditor Agreement, other than the Prepetition Second Lien Agent and the Prepetition Second Lien Lenders). 

  
 40 

 30. Master Proof of Claim. The Prepetition First Lien Agent shall be authorized (but not
required) to file a master proof of claim against the Debtors (the “Master Proof of Claim”) on behalf of itself and the Prepetition First Lien Lenders on account of their prepetition claims arising under the Prepetition First Lien
Credit Documents. Subject to the Prepetition Intercreditor Agreement, the Prepetition Second Lien Agent shall also be authorized (but not required) to file a Master Proof of Claim on behalf of itself and the Prepetition Second Lien Lenders on
account of their prepetition claims arising under the Prepetition Second Lien Credit Documents. If the Prepetition First Lien Agent or the Prepetition Second Lien Agent so files a Master Proof of Claim against the Debtors, the Prepetition First Lien
Agent (on its behalf and on behalf of each Prepetition First Lien Lender), or the Prepetition Second Lien Agent (on its behalf and on behalf of each Prepetition Second Lien Lender), as the case may be, and each of their respective successors and
assigns, shall be deemed to have filed a proof of claim in the aggregate amount set forth therein in each of the Chapter 11 Cases and any Successor Case, and the claims of the Prepetition First Lien Agent and each Prepetition First Lien Lender, or
the Prepetition Second Lien Agent and each Prepetition Second Lien Lenders, as the case may be, (and their respective successors and assigns) contained in the Master Proof of Claim shall be allowed or disallowed as if each such entity had filed a
separate proof of claim in each Chapter 11 Case in the aggregate amount set forth therein. Subject to the Prepetition Intercreditor Agreement, the Prepetition First Lien Agent and the Prepetition Second Lien Agent shall further be authorized to
amend its respective Master Proof of Claim from time to time to, among other things, reflect a change in the holders of the claims set forth therein or a reallocation among such holders of the claims asserted therein resulting from any transfer of
such claims. Subject to the Prepetition Intercreditor Agreement, the provisions set forth in this paragraph and any Master Proof of 

  
 41 

 
Claim filed pursuant to the terms hereof are intended solely for the purpose of administrative convenience and shall not affect the substantive rights of any Person, entity, or party in interest
or their respective successors in interest, including the rights of the Prepetition First Lien Agent, the Prepetition First Lien Lenders, the Prepetition Second Lien Agent, and the Prepetition Second Lien Lenders as the holder of a claim against the
Debtors under applicable law, or the numerosity requirements set forth in section 1126 of the Bankruptcy Code. 
 31. Final Hearing.
The Motion is set for a final hearing to be held at [            ] [a.m./p.m.], prevailing Central Time) on [            ], 2016.
Any objection to entry of the Final Order must be filed prior to 4:00 p.m., prevailing Central Time, on [            ], 2016. 

Dated: Houston, Texas 

[            ], 2016 

 

	
	  

	UNITED STATES BANKRUPTCY JUDGE

  
 42 

 Exhibit A 

Summary of Initial Approved Budget 

 Exhibit D 

Joinder 
 This
Joinder is entered into as of                  ,          by the undersigned (the “Joining Party”) in
order to become a party (as a Consenting Debt Claims Holder) to the Restructuring Support Agreement, dated as of June 2, 2016 (the “Restructuring Support Agreement”), by and among (i) Warren Resources, Inc., a
Maryland corporation (the “Parent Debtor”), (ii) certain subsidiaries of the Parent Debtor and (iii) certain creditors of the Parent Debtor named therein. Capitalized terms used but not defined herein shall have the
meanings ascribed to such terms in the Restructuring Support Agreement. 
 1. Agreement to be Bound. The Joining Party hereby
agrees to be bound by all of the terms of the Restructuring Support Agreement, which is attached to this Joinder as Annex I (as the same may be hereafter amended, restated, or otherwise modified from time to time) as if the Joining Party were an
original signatory to the Restructuring Support Agreement. From and after the date hereof, the Joining Party shall hereafter be deemed to be a “Consenting Debt Claims Holder” for all purposes under the Restructuring Support Agreement. 

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

IN WITNESS WHEREOF, the Joining Party has caused this Joinder to be executed as of the date first written above. 

 

			
	[NAME OF JOINING PARTY]
	BY:	 	
		 	NAME:
		 	TITLE:
	AGGREGATE PRINCIPAL AMOUNT OF DEBT CLAIMS:
	$

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