Document:

Exhibit

Exhibit 10.4

EMPLOYEE IS AFFIRMATIVELY ADVISED, INSTRUCTED, CAUTIONED AND RECOMMENDED TO CONSULT WITH AN ATTORNEY PRIOR TO THE EXECUTION OF THIS AGREEMENT. PLEASE READ CAREFULLY.  THIS AGREEMENT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

DATE AGREEMENT FIRST DELIVERED TO EMPLOYEE: MARCH 27, 2019

SEPARATION, SEVERANCE AND GENERAL RELEASE AGREEMENT
This Separation, Severance and General Release Agreement ("the Agreement") is entered into by and between Billy Ray Smith, (the “Employee”) and U.S. Silica Company (the “Company,” and together with the Employee, the “Parties”).

WHEREAS:
Employee’s employment with the Company will terminate (the “Separation”) effective March 27, 2019 (the “Separation Date”); and
The Company is willing to provide Employee with the severance benefits described herein; and
This Agreement represents the waiver and release of any claims Employee might have against the Releasees (as such term is defined below) as of the date of his/her execution of this Agreement.
NOW, THEREFORE, for mutual consideration the adequacy and sufficiency of which is hereby acknowledged by the Parties:
1.    Severance Benefits.  Subject to the execution and non-revocation of this Agreement as set forth in Section 9 below, and subject further to compliance with all obligations under this Agreement, Employee will be entitled to receive from the Company the following severance benefits (the “Severance Benefits”):  
(a)    Severance Pay.  Payment equal to twelve (12) months of salary, calculated at the annual base salary in effect as of the Separation Date, being $XXXXXX, payable in a single lump sum.  The Parties agree that the gross amount of such payment before withholdings is $XXXXXX (the “Severance Payment”), and that the Severance Payment will be subject to all applicable tax withholdings.  Such Severance 

Payment shall be made promptly, provided the conditions for payment as set forth in Section 1(e) are met, and (ii) Employee has not revoked this Agreement in accordance with Section 9.
.
(b)    RSU Vesting.  Within 15 days after Employee’s execution of this Agreement, and provided that Employee has not revoked this Agreement in accordance with Section 9, employee will receive XXXXXX shares of U.S. Silica Holdings, Inc. stock constituting XXXXXX (XXXXXX) of the previously awarded 2017 Restricted Stock Award (“RSA”) grant.  Employee will also receive XXXXXX shares of U.S. Silica Holdings, Inc. stock constituting XXXXXX (XXXXXX) of the previously awarded 2018 Restricted Stock Unit (“RSU”) grant.  
(c)    PSU Vesting.  Employee will receive a pro-rated number of shares following the pro-ration guidelines and subject to the company achieving the performance conditions set forth in the previously awarded 2018 Performance Share Units (“PSU”) grant agreement. The shares will be transferred to an account of the Employee’s choosing no later than April 1st, 2021
(d)    Health Insurance; COBRA Rights.  Effective as of the Separation Date, as required by the continuation coverage provisions of Section 4980B of the U. S. Internal Revenue Code of 1986, as amended (the “Code”), Employee will be offered the opportunity to elect continuation coverage under the group medical plan(s) of the Company (“COBRA coverage”).  Employee will be provided with the appropriate COBRA coverage notice and election form for this purpose.  Such eligibility for COBRA shall not be subject to the provisions in Section 1(e) below.    
		
	(i)
	If Employee elects COBRA coverage and complies with the requirements of Section 1(e) below, the Company will pay 100% of Employee’s health insurance premium for XXXXXX (XXXXXX) months, beginning with April 2019. 

		
	(ii) 
	Payment in accordance with the above will be dependent upon the Company determining that payment of such amounts would not result in the imposition of excise taxes on the Company for any failure to comply with the nondiscrimination requirements of the Patient Protection and Affordable Care Act of 2010, as amended, and the Health Care and Education Reconciliation Act of 2010, as amended.   The existence and duration of Employee’s rights and/or the COBRA rights of any of his/her eligible dependents will be determined in accordance with Section 4980B of the Code.    

(e)    Payment of all amounts in Section 1(a) above is expressly conditioned upon the following:  
(i)    Employee has not revoked this Agreement;
(ii)    The Company has received adequate proof that there is a zero balance owed on Employee’s Company credit card; 
(iii)    Employee has returned to the Company all Company property in his/her possession; and 
(iv)    Employee has otherwise cooperated with the Company in all matters related to his separation from the Company.  
(f)    Vacation Pay.  Upon separation, Employee will also be paid a sum equal to all accrued but unused vacation, less applicable payroll taxes and withholdings, in accordance with Company policy.
(g)    Agreement to Repay.  The Company acknowledges and agrees that Employee’s termination of employment does not constitute an “Employment Separation” under any Authorization for Payroll Deduction and Agreement to Repay, and as such, Employee is not required to repay any relocation expenses paid by the Company.
 (h)    No Other Entitlements.  Employee acknowledges and agrees that the payments and benefits provided in Sections 1(a) through (h) constitute consideration beyond that which, but for the mutual covenants set forth in this Agreement, the Company otherwise would not be obligated to provide to Employee as of the Separation Date. Employee acknowledges that he will no longer be entitled to any other benefits, payments or contributions from the Company or its subsidiaries other than those specifically provided for in this Agreement or under an employee benefit plan governed by the Employee Retirement Income Security Act of 1974, as amended.
2.    Earned Compensation.  Except for his final salary pay check, Employee specifically acknowledges that, as of the date of execution of this Agreement, he has been paid all wages, commissions, compensation, accrued time-off, benefits, and other amounts that Employee is or was 

owed under the Fair Labor Standards Act (“FLSA”), or any other applicable federal, state, or local law or regulation providing for the payment of wages, commissions, compensation, accrued time-off, and benefits (“Wage Law”) to which he is entitled through and including the Separation Date. Except for the PSU Vesting set forth in Section 1(c) Employee is not owed any back-pay, damages, penalties, or any other amounts due under the FLSA, or any other applicable federal, state, or local Wage Law.  Employee shall not be eligible for any other payment beyond the aforementioned.  
3.    Non-Admission.  The Parties understand and agree that this Agreement does not represent any admission of liability or misconduct by any person or entity for any purpose.  Rather, Employee and the Releasees are resolving all matters arising out of their employer-employee relationship and with all other relationships between Employee and the Releasees.
4.    Release.  In exchange for the benefits and undertakings described herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Employee hereby fully and forever releases and discharges the Company, its parents, subsidiaries and affiliates, and each of its and their general and limited partners and members and managers, including, without limitation, each of their respective predecessors, successors, assigns, subsidiaries, affiliates, affiliated partnerships and companies, as well as its and their current and former shareholders, directors, officers, employees, partners, members, trustees, attorneys, representatives, fiduciaries and/or agents, both individually and in their official capacities (collectively, the "Releasees") from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys' fees, or liabilities of any nature whatsoever, both past and present and whether known or unknown, suspected, or claimed against the Company or any of the Releasees which Employee or any of Employee’s heirs, executors, administrators or assigns, may have, including (without limitation) those claims which arise in whole or in part in connection with his/her hiring and employment by the Company and the Separation, including but not limited to his/her pay in whatever form, and specifically including the Age Discrimination in Employment Act, as amended (the “ADEA”); the Americans with Disabilities Act of 1990; the Family and Medical Leave Act; the Fair Labor Standards Act, as amended; the National Labor Relations Act, as amended; the Labor-Management Relations Act, as amended; the Worker Adjustment Retraining and Notification Act of 1988; the Rehabilitation Act of 1973, as amended; the Employee Retirement Income Security Act of 1974 (except as to rights which already may have vested); the Equal Pay Act of 1963, as amended; the Uniformed Services Employment and Reemployment Rights Act of 1994; Employment Discrimination, Texas Lab. Code Ann. §21.001, et. seq., as amended; the Texas Payday Law, Texas Lab. Code Ann. §61.001, et. seq., as amended; the Texas Minimum Wage Act, Texas Lab. Code Ann. §62.001, et. seq., as amended; the anti-retaliation provisions of the Texas Workers’ Compensation Act, Texas Lab. Code Ann § 451.001, et. seq., as amended, and other applicable Texas statutes or regulations; and the common law of the state of Texas, in all cases except to the extent such claims cannot be waived as a matter of law, and all other federal, state or local laws, statutes, regulations or ordinances, any and all claims in contract, tort, public policy, or common law, and any and all claims for costs and attorney fees (“Claims”).  It is the intention of Employee in executing this Agreement that it will be effective as a bar to each and every claim, demand, and cause of action mentioned or implied in this Agreement.  Each Party understands the significance of his/her or its release of unknown claims and his/her or 

its waiver of statutory protection against a release of unknown claims.  In waiving and releasing any and all claims against the Released Parties, whether or not now known to Employee, Employee understands that this means that, if Employee later discovers facts different from or facts in addition to those facts currently known by Employee, or believed by Employee to be true, the waivers and releases of this Agreement will remain effective in all respects -- despite such different or additional facts and Employee’s later discovery of such facts, even if Employee would not have agreed to this Agreement if Employee had prior knowledge of such facts.
5.    Representations and Acknowledgements.  Employee represents to each of the Releasees that at no time prior to execution of this Agreement has Employee filed or caused or permitted the filing of any Claim which s/he may now have or has ever had against any of the Releasees which is based in whole or in part on any matter referred to in Section 4 above; and Employee acknowledges that, subject to the Company’s performance under this Agreement, to the maximum extent permitted by law, s/he is prohibited from doing so.  Employee further agrees that if any person, organization, or other entity should bring a claim against the Released Parties involving any such matter, Employee will not accept any personal relief in such action.
6.    EXCEPTIONS FOR CLAIMS NOT BEING WAIVED OR RELEASED BY EMPLOYEE.  The only claims that are not being waived and released by Employee under this Agreement are claims Employee may have for:
(a)unemployment benefits, workers’ compensation benefits, state disability benefits and/or paid family leave insurance benefits pursuant to the terms of applicable state law; 
(b)    any benefit entitlements that are vested as of the Separation Date pursuant to the terms of an Employer-sponsored benefit plan governed by the federal law known as “ERISA;” 
(c)    violation of any federal, state or local statutory and/or public policy right or entitlement that, by applicable law, is not waivable; 
(d)    any wrongful act or omission occurring after the date Employee signs this Agreement;  
(e)    any claim under the Fair Labor Standards Act or claim for health insurance benefits under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”); 
(f)    any claim Employee may have to challenge the knowing and voluntary nature of this Agreement under the Older Workers’ Benefit Protection Act (“OWBPA”); or
(g)    any other claim, as determined by a court of competent jurisdiction, that cannot be waived as a matter of law.    
6.    GOVERNMENT AGENCY CLAIMS EXCEPTION.  
(a)    Nothing in this Agreement prevents or prohibits Employee from filing a claim with or participating in an administrative investigation or proceeding of a government agency, such as the U.S. Equal Employment Opportunity Commission, that is responsible for enforcing a law on 

behalf of the government.  However, Employee understands that, because Employee is waiving and releasing all claims for monetary damages and any other form of personal relief, except as set forth above, Employee may only seek and receive non-personal forms of relief through any such claim. 
(b)    Employee further understands and acknowledges that nothing in this Agreement prohibits, penalizes, or otherwise discourages Employee from reporting, providing testimony regarding, or otherwise communicating any nuclear safety concern, workplace safety concern, public safety concern, or concern of any sort, to the U.S. Department of Labor or any federal or state government agency.  
(c)    Employee also understands and acknowledges that nothing in this Agreement shall be construed to prohibit him/her from engaging in any activity protected by the Sarbanes-Oxley Act, 18 U.S.C. § 1514A and the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203, H.R. 4173.
(d)    Nothing in this Agreement prohibits or restricts Employee from: (i) making any disclosure of information required by law; and (ii) providing information to, or testifying or otherwise assisting or cooperating in any investigation or proceeding brought by, any federal regulatory or law enforcement agency or legislative body, any self-regulatory organization or the Company’s designated legal compliance officer.
8.    Non-Disparagement; Employment References.  Employee agrees that s/he will not criticize or otherwise disparage the Company or any of the Releasees, or any of their respective officers, directors, employees, products or services.  The Company agrees that Company executives (Vice President level and above) will not criticize or otherwise disparage the Employee or his services to the Company during the term of his employment.  The Parties agree that, in response to any inquiry from a prospective employer of Employee, the Company will advise such prospective employer of Employee’s starting and ending dates of employment, his/her job title as of the Separation Date , will verify previous compensation only if the requesting party provides salary data for confirmation, and if asked whether Employee is subject for rehire, the Company shall answer “Yes”. 
9.    Voluntary Execution; ADEA Compliance.  Employee acknowledges that s/he has entered into this Agreement freely and without coercion, that s/he has been advised orally and is being advised herein in writing by the Company to consult with counsel of his/her choice, that s/he has had adequate opportunity to so consult, and that s/he has been given all time periods required by law to consider this Agreement (the “Consideration Period”), including but not limited to the 21-day period required by the ADEA.  Employee acknowledges that everything Employee is receiving for signing this Agreement is described in this Agreement itself, and no other promises or representations have been made to cause Employee to sign it.  Employee acknowledges that Employee has had at least twenty-one (21) days after receipt of this information and Agreement to consider whether to accept or reject this Agreement.  Employee understands that Employee may sign this Agreement prior to the end of such twenty-one (21) day period, but is not required to do so.  Employee understands that if s/he chooses to execute this Agreement less than 21 days from his/her receipt from the Company, such execution will represent his/her knowing waiver of such Consideration Period.  Employee further acknowledges that within the 7-day period following his/

her execution of this Agreement (the “Revocation Period”) s/he will have the unilateral right to revoke this Agreement, and that the Company’s obligations hereunder will become effective only upon the expiration of the Revocation Period without his/her revocation hereof.  In order to be effective, notice of Employee’s revocation of this Agreement must be received by the Company on or before the last day of the Revocation Period.  Any notice of revocation must be hand delivered, or sent by e-mail and express courier (UPS or Federal Express only), pre-paid next-day air, to the Company in care of its attorney, W.Andrew Macan, SVP General Counsel and Corporate Secretary, U.S. Silica Company, 24275 Katy Freeway, S. 600, Katy, TX 77494, 346-307-8631, macan@ussilica.com.    

10.    Confidential Information/Non-Solicitation of Employees.  (a)  Employee acknowledges that the information, observations and data obtained by him/her during the course of his/her employment with the Company concerning (1) any business information not otherwise publicly available concerning the organization, business, investments, prospective investments or finances of the Company or any of the Releasees; (2) any personal information concerning the present or former partners, employees, officers and directors of the Company or any of the Releasees, (3) information received from any third party which any Releasee is under an obligation to keep confidential (collectively, "Confidential Information") is the property of the respective Releasee.  Employee agrees that s/he will not, directly or indirectly, disclose to any unauthorized person or use for his/her own account any of such Confidential Information unless, and only to the extent that, (i) such matters become generally known to and available for use by the public other than as a result of Employee’s acts or omissions, or (ii) s/he is required to do so by order of a court of competent jurisdiction (by subpoena or similar process), in which event Employee will reasonably cooperate with the Company or the Releasees in connection with any action to restrict, limit or suppress such disclosure.  Employee represents, warrants and covenants that at no time prior to or contemporaneous with his/her execution of this Agreement has s/he, directly or indirectly, disclosed Confidential Information to any unauthorized person or used such Confidential Information for his/her own purposes or benefit.  
(b)    Employee further agrees that for a period of two (2) years following the Separation Date, s/he shall not, directly or indirectly, employ, retain, solicit for employment or retention, knowingly assist in the employment or retention of, or seek to influence or induce to leave the Company’s employment or service, any person who was employed or otherwise engaged by the Company or any of its subsidiaries at any time during the one-year period prior to the Separation Date.  
11.    Confidentiality of Agreement.  The Company and Employee agree that the terms and conditions of this Agreement are to be strictly confidential, except that Employee may disclose the terms and conditions to his/her family, attorneys, accountants, tax consultants, state and federal tax authorities or as may otherwise be required by law.  The Company may disclose the terms and conditions of this Agreement as the Company deems necessary to its officers, employees, board of directors, stockholders, insurers, attorneys, accountants, state and federal tax authorities, or as may otherwise be required by law.  Employee warrants that s/he has not discussed, and agrees that except as expressly authorized by the Company s/he will not discuss, this Agreement or the circumstances of his/her Separation with any employee of the Company, and that s/he will take affirmative steps 

to avoid or absent him/herself from any such discussion even if s/he is not an active participant in the discussion.  Employee understands and agrees that his/her breach of this Agreement, as determined by a court with competent jurisdiction, will eliminate his/her entitlement to any Severance Benefits under this Agreement, including such benefits already received and, with respect to benefits received, upon request from the Company, Employee will be required to immediately return such amounts or monetary equivalent of such benefit requested by the Company in the event of a breach.  EMPLOYEE ACKNOWLEDGES THE SIGNIFICANCE AND MATERIALITY OF THIS PROVISION TO THIS AGREEMENT, AND HIS/HER UNDERSTANDING OF THIS PROVISION.
12.    Third Party Beneficiaries.  As third-party beneficiaries of this Agreement, the Releasees (or any of them) will be entitled to enforce this Agreement in accordance with its terms in respect of the rights granted to such Releasees.  There are no other third-party beneficiaries to this Agreement.
13.    No Precedential Effect.  By entering into this Agreement, it is not the intention of the Company to establish any policy, procedure, course of dealing or plan of general application irrespective of any similarity in facts or circumstances involving such other employee, on the one hand, and Employee, on the other hand.
14.    Entire Agreement.  This Agreement contains the entire agreement between the Parties with respect to the subject matter set forth in this Agreement, and supersedes and preempts all other agreements and obligations between the Parties; provided however, that this Agreement does not merge, supersede or replace the terms of any “Ownership of Proprietary Information, Assignment of Inventions, Non-solicitation, and Non-disclosure Agreement for Employees” (the “Surviving Agreement”), or any other restrictive covenant or non-compete agreements which shall remain in full and effect according to their own terms, except to the extent there is a conflict between the terms of this Agreement and the Surviving Agreement, the terms of this Agreement shall govern.  The terms and conditions of this Agreement are contractual and not a mere recital.  No part of this Agreement may be changed except in writing executed by the Parties.

17.    Choice of Law.  This Agreement will be interpreted in accordance with the laws of the State of Texas.  Whenever possible, each provision of this Agreement will be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement will be held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating or affecting in any manner whatsoever the remainder of such provision or the remaining provisions of this Agreement.
18.    Headings.  Any titles, captions and headings contained in this Agreement are inserted for convenience of reference only and are not intended to be a part of or to affect in any way the meaning or interpretation of this Agreement.
19.    No Right to Re-Employment.  Employee acknowledges and agrees that neither the Company nor any of the Releasees is obligated to offer him/her employment (or to accept services or the performance of work from him/her, whether directly or indirectly) now or in the future.

20.    Code Section 409A.  This Agreement is intended to comply with the requirements of Code Section 409A and the Treasury Regulations and other guidance issued thereunder, as in effect from time to time, to the extent a payment hereunder is, or shall become subject to the application of Code Section 409A.  To the extent a provision of this Agreement is contrary to or fails to address the requirements of Code Section 409A and related Treasury Regulations, this Agreement shall be construed and administered as necessary to comply with such requirements to the extent allowed under applicable Treasury Regulations until this Agreement is appropriately amended to comply with such requirements.  If as of the Separation Date Employee is determined to be a “specified employee” as defined in Treasury Regulation Section 1.409A-1(i), then the payment shall be delayed until a date that is six months after the date of Employee’s Separation Date to the extent necessary to comply with the requirements of Code Section 409A and related Treasury Regulations; provided, however that the payments to which Employee would have been entitled during such 6-month period, but for this subparagraph, shall be accumulated and paid to Employee without interest in a lump sum within ten days following the date that is six months following Employee’s Separation Date, and any remaining payments shall continue to be paid to Employee on their original schedule.  If Employee dies during such six-month period and prior to the payment of the portion that is required to be delayed on account of Code Section 409A, such amount shall be paid to Employee’s estate within 60 days after Employee’s death.

[Remainder of page intentionally blank]

IN WITNESS WHEREOF, the Parties have executed this Agreement effective as of the date of the last signature affixed below.
READ CAREFULLY BEFORE SIGNING
WITH MY SIGNATURE BELOW, I ACKNOWLEDGE THAT I HAVE CAREFULLY READ THIS AGREEMENT, I HAVE HAD REASONABLE AND SUFFICIENT OPPORTUNITY TO CONSULTANT WITH AN INDEPENDENT LEGAL REPRESENTATIVE OF MY OWN CHOOSING, AND I UNDERSTAND ALL OF ITS TERMS INCLUDING THE FULL AND FINAL RELEASE OF CLAIMS SET FORTH ABOVE.  
I FURTHER ACKNOWLEDGE THAT I HAVE FREELY AND VOLUNTARILY AND WITHOUT DURESS OR UNDUE PRESSURE OR INFLUENCE OF ANY KIND OR NATURE, ENTERED INTO THIS AGREEMENT, THAT I HAVE NOT RELIED UPON ANY REPRESENTATION, PROMISE, WARRANTY OR STATEMENT, WRITTEN OR ORAL, NOT SET FORTH IN THIS AGREEMENT, THAT I HAVE BEEN GIVEN THE OPPORTUNITY TO HAVE THIS AGREEMENT REVIEWED BY MY ATTORNEY AND THAT I HAVE BEEN ENCOURAGED BY THE COMPANY TO DO SO.  
I ALSO ACKNOWLEDGE THAT I HAVE BEEN AFFORDED AT LEAST 21 DAYS TO CONSIDER THIS AGREEMENT AND THAT I HAVE 7 DAYS AFTER SIGNING THIS AGREEMENT TO REVOKE IT BY DELIVERING WRITTEN NOTIFICATION OF MY REVOCATION AS SET FORTH ABOVE.  IF THIS AGREEMENT IS NOT REVOKED IN THIS MANNER, IT WILL BECOME EFFECTIVE ON THE EIGHTH DAY AFTER I SIGN IT.  FURTHERMORE, I UNDERSTAND THAT IF I REVOKE THIS AGREEMENT, THIS AGREEMENT WILL BECOME NULL AND VOID AND I WILL NOT BE ENTITLED TO THE BENEFITS CONFERRED BY THIS AGREEMENT, INCLUDING PAYMENTS SET FORTH HEREIN IF THE AGREEMENT IS REVOKED.

_______________________________ 
Billy Ray Smith
Dated: _______________, 2019     

U. S. SILICA COMPANY

By: _________________________________________ 
        David D. Murry
Senior Vice President and CHRO

    
Dated: ______________, 2019Exhibit

Exhibit 10.1
First Amendment and Limited Waiver to 
Amended and Restated Credit Agreement

This First Amendment and Limited Waiver to Amended and Restated Credit Agreement (this “Amendment”), dated as of April 29, 2019 (the “Effective Date”), is among Kingfisher Midstream, LLC, a Delaware limited liability company (the “Borrower”), each of the Lenders that is a signatory hereto, and Wells Fargo Bank, N.A., as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”) and in its separate capacity as “LC Issuer”.  
Recitals
A.    The Borrower and the Lender Parties are parties to that certain Amended and Restated Credit Agreement, dated as of May 30, 2018 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), pursuant to which the Lender Parties have, subject to the terms and conditions set forth therein, made certain credit available to and on behalf of the Borrower.
B.      The Borrower has advised the Administrative Agent that certain Defaults or Events of Default under the Loan Documents have arisen from the Borrower’s violation of (i) Section 6.2(b) of the Credit Agreement with respect to the required delivery of quarterly financials for the Fiscal Quarter ending December 31, 2018 within sixty days after the end of such quarter (the “6.2(b) Event of Default”); (ii) Section 6.17(b) of the Credit Agreement, which required notice to the Administrative Agent within 30 days of the acquisition by Oklahoma Produced Water Solutions, LLC, a Restricted Person (the “Buyer”), of certain property interests in Kingfisher County, Oklahoma pursuant to that certain Purchase and Sale Agreement, dated as of November 9, 2018 (the “PSA”), by and between Oklahoma Energy Acquisitions, LP, as seller, and Oklahoma Produced Water Solutions, LLC, as buyer (the “6.17(b) Event of Default”); (iii) Section 6.17(c) of the Credit Agreement, which required delivery of copies of the recorded instruments of transfer related to the PSA within 30 days of the end of the Fiscal Quarter during which such instruments were made available to it or any Restricted Person (the “6.17(c) Event of Default”); (iv) Section 6.4(b) of the Credit Agreement, which required notice of the other Specified Events of Default (as defined below) (the “6.4(b) Event of Default”); (v) Section 6.1 of the Credit Agreement, which required performance of all other covenants in the Loan Documents, by virtue of the other Specified Events of Default (the “Section 6.1 Event of Default”); or (vi) any representation or warranty made or deemed made as to the absence of any Defaults or Events of Default in respect of the foregoing (including, but not limited to, Section 5.1 of the Credit Agreement) (the “Rep Accuracy Default”, together with the 6.2(b) Event of Default, the 6.17(b) Event of Default, the 6.17(c) Event of Default, the 6.4(b) Event of Default and the 6.1 Event of Default, collectively the “Specified Events of Default”).  
D.    The parties hereto desire to enter into this Amendment to provide the limited waiver set forth herein and to amend the Credit Agreement on the terms and conditions set forth herein. 
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Section 1.Defined Terms.  Each capitalized term (including in the introductory paragraph and recitals of this Amendment) that is defined in the Credit Agreement and is not otherwise defined in this Amendment shall have the meaning ascribed such term in the Credit Agreement.

Section 2.Limited Waiver.  In reliance on the representations, warranties, covenants and agreements contained in this Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 5 hereof, the Lender Parties hereby waive the Specified Events of Default, including to the extent such Specified Events of Default separately constitute Defaults or Events of Default under any other Loan Document. The limited waiver granted in this Section 2 is a one-time waiver and limited solely to the Specified Events of Default, including to the extent such Specified Events of Default separately constitute Defaults or Events of Default under any other Loan Document, and nothing contained in this Section 2 shall be deemed a consent to, or waiver of, any other action or inaction of the Borrower, any Guarantor or any Restricted Subsidiary that constitutes (or would constitute) a violation of any provision of the Credit Agreement or any other Loan Document.  No Lender Party shall be obligated to grant any future waivers, consents or amendments with respect to any other provision of the Credit Agreement or any other Loan Document and such limited waiver shall not constitute a course of dealing among the parties.

Section 3.Amendments.  In reliance on the representations, warranties, covenants and agreements contained in this Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Credit Agreement shall be amended effective as of the Effective Date in the manner provided in this Section 3. 

3.1    New Definitions.  Section 1.1 of the Credit Agreement is hereby amended to add thereto in alphabetical order each of the following definitions, which shall read in full as follows:

“Division” means, with respect to any Person, that any such Person (a) divides into two or more separate Persons (whether or not the original Person survives such division) or (b) creates, or reorganizes into, one or more series, in each case as contemplated under the laws of any applicable jurisdiction.
“Excess Cash” means, at any time, the aggregate cash or cash equivalents of the Borrower and its Restricted Subsidiaries (other than Excluded Cash) in excess of $15,000,000 (which amount may be amended from time to time with the written consent of the Borrower and the Required Lenders). 
“Excluded Account” means a deposit account of the Borrower or any Restricted Subsidiary that is (a) specifically and exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of the Borrower’s or any Restricted Subsidiary’s salaried employees or (b) expressly excluded from the Collateral pursuant to the Security Agreement.
“Excluded Cash” means (a) any cash or cash equivalents of the Borrower or any Restricted Subsidiary in an Excluded Account, (b) any cash or cash equivalents constituting Cash Collateral held by the Administrative Agent pursuant to this Agreement or any other Loan Document and (c) checks issued, wires initiated or automated clearing house transfers initiated, in each case (i) solely to the extent issued or initiated to satisfy bona fide expenditures of any Restricted Person and (ii) on account of transactions not prohibited under this Agreement and in the Ordinary Course of Business.

“First Amendment Effective Date” means April 29, 2019.
“FY 2018 Compliance Delivery Date” has the meaning given to it in Section 6.2(a).
“Ordinary Course of Business” means consistent with normal and prudent business practices not prohibited by this Agreement; provided that, the amount of any payment to fund retainers, advances, or prepayments for services, in each case, made to lawyers, accountants, bankers or management consultants (collectively, “Specified Professionals”), exceeding the amount already, or reasonably expected to be, earned by and payable to such Specified Professionals within the next subsequent 45 days from any date of determination is hereby deemed not to be in the “Ordinary Course of Business”.
“Q1 2019 Compliance Delivery Date” has the meaning given to it in Section 6.2(b).
“Security Agreement” means that certain Amended and Restated Security Agreement, dated as of May 30, 2018, by each Restricted Person from time to time party thereto in favor of the Administrative Agent, as amended, restated, amended and restated, supplemented or otherwise modified from time to time.
3.2    Amended and Restated Definition.  Section 1.1 of the Credit Agreement is hereby amended to amend and restate the definition of “Availability”, which shall read in full as follows:

“Availability” means:
(a)    with respect to any time of determination during the period commencing on the Closing Date and ending on the Q2 2018 Compliance Delivery Date, the lesser of (i) the Aggregate Commitment, and (ii) $200,000,000;
(b)     with respect to any time of determination during the period commencing on the First Amendment Effective Date and ending on the later to occur of the FY 2018 Compliance Delivery Date and the Q1 2019 Compliance Delivery Date, the least of (i) $225,000,000, (ii) the Aggregate Commitment and (iii) the maximum amount that, together with the aggregate amount of all then-outstanding Consolidated Funded Indebtedness that does not constitute Facility Usage at such time, would result in Borrower being in pro forma compliance with all Applicable Leverage Covenants at such time, calculated using Consolidated Adjusted EBITDA for the most recently ended Rolling Period for which the financial statements and Compliance Certificate were delivered pursuant to Section 6.2(b); and

 (c)    with respect to any other time of determination, the lesser of (i) the Aggregate Commitment and (ii) the maximum amount that, together with the aggregate amount of all then-outstanding Consolidated Funded Indebtedness that does not constitute Facility Usage at such time, would result in Borrower being in pro forma compliance with all Applicable Leverage Covenants at such time, calculated using Consolidated Adjusted EBITDA for the most recently ended Rolling Period for which the financial statements and Compliance Certificate were delivered pursuant to Section 6.2(b). 
3.3    Divisions.  Article I of the Credit Agreement is hereby amended by adding new Section 1.8 immediately following Section 1.7 therein, which new Section 1.8 shall read in its entirety as follows:

Section 1.8.    Divisions.    For all purposes under the Loan Documents, in connection with any Division or plan of Division: (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity at such time. Notwithstanding anything to the contrary in this Agreement, (x) any resulting division or series of any Person that, prior to a Division, is a Restricted Subsidiary, Guarantor, Restricted Person or any other like term shall remain a Restricted Subsidiary, Guarantor, Restricted Person or other like term, respectively, after giving effect to such Division, to the extent required under this Agreement, and any resulting divisions or series of such Persons shall remain subject to the same restrictions and corresponding exceptions applicable to the pre-Division predecessor of such divisions or series, (y) in no event shall Borrower or, prior to a Borrower Equity Pledge Release in respect of any Borrower Equity Pledge, the relevant Borrower Equity Pledgor, be permitted to effectuate a Division, and (z) if any Restricted Subsidiary shall consummate a Division permitted under this Agreement in accordance with the foregoing, such Restricted Subsidiary shall be required to (effective simultaneously with the effectiveness of such Division) comply with the applicable requirements of this Agreement and the Security Documents, including actions described in Section 7.3 of the Security Agreement.
3.4    Commitment for Additional Eurodollar Borrowings. Section 2.1 of the Credit Agreement is hereby amended by replacing “no more than four (4) Borrowings of Eurodollar Loans” therein with “no more than six (6) Borrowings of Eurodollar Loans”.
3.5    Existence of Additional Eurodollar Borrowings. Section 2.3 of the Credit Agreement is hereby amended by replacing “no more than four (4) Borrowings of Eurodollar Loans” therein with “no more than six (6) Borrowings of Eurodollar Loans”.
3.6    Mandatory Prepayment with Excess Cash.  Section 2.7 of the Credit Agreement is hereby amended by adding new subsection (e) immediately following subsection (d) therein, which new subsection (e) shall read in its entirety as follows: 

(e)    If, at the close of business on the last Business Day of each week, the Borrower and the Restricted Subsidiaries have any Excess Cash, the Borrower shall prepay Borrowings on the next succeeding Business Day, which prepayment shall be in an amount equal to the amount of such Excess Cash on such last Business Day of the applicable week.
3.7    New Condition to Borrowing.  Section 4.2(d) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 

(d)(i) At the time of and immediately after giving effect to any Borrowing of Loans (and any application of the proceeds thereof in the Ordinary Course of Business on the date of the requested Borrowing), the Facility Usage will not be in an amount in excess of the Availability, (ii) the Borrower and the Restricted Subsidiaries shall not have any Excess Cash immediately prior to or after giving effect to such Borrowing, in each case determined after giving effect to any intended use of proceeds in the Ordinary Course of Business (as certified by the Borrower, to the extent applicable, in the related Borrowing Notice) on or before the date that is one Business Day after the date the Borrower receives the funds from such Borrowing, nor may such Borrowing, after giving effect to any such intended use of proceeds in the Ordinary Course of Business (as certified by the Borrower, to the extent applicable, in the related Borrowing Notice), be in an amount that would trigger a mandatory prepayment under Section 2.7(e), and (iii) such Loans shall be funded into and maintained until used in accordance with this Agreement in (A) an account of the Borrower over which the Administrative Agent has “control” (within the meaning of Section 9.104 of the UCC) or (B) an Excluded Account to the extent permitted in accordance with the definition thereof.

3.8    Financials.  Section 6.2 of the Credit Agreement is hereby amended by amending and restating subsections (a) and (b) contained therein to read in their respective entireties as follows:

(a) As soon as available, and in any event within one hundred-twenty (120) days after the end of each Fiscal Year, complete Consolidated financial statements of Borrower together with all notes thereto, prepared in reasonable detail in accordance with GAAP, together with an unqualified opinion, based on an audit using generally accepted auditing standards, by an independent certified public accounting firm of recognized standing selected by Borrower and acceptable to Administrative Agent, stating that such Consolidated financial statements have been so prepared; provided that, solely with respect to the Fiscal Year ending December 31, 2018, such financial statements will only cover the period commencing on February 9, 2018 and ending on December 31, 2018 and such financial statements shall be provided no later than one hundred sixty five (165) days after the end of such Fiscal Year (the date on which such financial statements and a Compliance Certificate are delivered in accordance with this Section 6.2(a), the “FY 2018 Compliance Delivery Date”). These financial statements shall contain a Consolidated balance sheet as of the end of such Fiscal Year and Consolidated statements of earnings, of cash flows, and of changes in owners’ equity for such Fiscal Year, each setting forth in comparative form the corresponding figures for the preceding Fiscal Year.

(b) As soon as available, and in any event within sixty (60) days after the end of each Fiscal Quarter (except for the Fiscal Quarter ended March 31, 2019, which shall be delivered within 105 days of the end of such Fiscal Quarter (the date on which such financial statements and a Compliance Certificate are delivered in accordance with this Section 6.2(b), the “Q1 2019 Compliance Delivery Date”)), Borrower’s Consolidated balance sheet as of the end of such Fiscal Quarter and Consolidated statements of Borrower’s earnings and cash flows for such Fiscal Quarter and for the period beginning on the first day of the then current Fiscal Year to the end of such Fiscal Quarter, all in reasonable detail and prepared in accordance with GAAP, subject to changes resulting from normal year-end adjustments and the absence of footnotes. In addition Borrower will, together with each such set of financial statements and each set of financial statements furnished under subsections (a) and (b) of this Section, furnish a Compliance Certificate signed by a Responsible Officer of Borrower stating that such financial statements present fairly the financial condition and the results of operations of Borrower and its Restricted Subsidiaries for such Fiscal Year on a consolidated basis in accordance with GAAP (subject to normal year-end adjustments and the absence of footnotes), stating that he/she has reviewed the Loan Documents, containing calculations showing compliance (or non-compliance) at the end of such Fiscal Quarter with the requirements of Section 7.14 and stating that no Default exists at the end of such Fiscal Quarter or at the time of such certificate or specifying the nature and period of existence of any such Default. 
3.9    Notice of Modifications to Material Contracts.  Section 6.2 of the Credit Agreement is hereby amended by adding new subsection (l) immediately following subsection (k) therein, which new subsection (l) shall read in its entirety as follows:

(l) Borrower shall promptly, and in no event later than the fifth Business Day, after a Responsible Officer of the Borrower becomes aware thereof, give notice to the Administrative Agent of any amendment, restatement, consent, waiver, other modification and/or termination (other than scheduled terminations pursuant to the terms thereof) in respect of any Material Contract that decreases projected Consolidated revenue (when viewed over the next succeeding twelve-month period) of the Borrower and its Restricted Subsidiaries from such Material Contract by more than 17.5% as a result of changes to rates, acreage dedications or committed volumes from such Material Contract, together with copies of the documentation relating to such event.
3.10    Amendments to Limitation on Mergers.  Section 7.4 of the Credit Agreement is hereby amended to (i) insert the phrase “excluding any Division,” immediately following the phrase “(each of the foregoing transactions,” appearing therein and (ii) insert the phrase “divide, enter into any plan of Division, or be subjected to any Division,” immediately prior to the phrase “or liquidate or dissolve” appearing therein.

3.11    Amendments to Permitted Distributions.  Section 7.6 of the Credit Agreement is hereby amended by amending and restating subsections (e), (f), and (i) contained therein to read in their respective entireties as follows:

(e)    from and after the later to occur of the FY 2018 Compliance Delivery Date and the Q1 2019 Compliance Delivery Date, cash Distributions for any purpose, so long as, both before and after giving pro forma effect to such Distribution, (i) no Default or Event of Default has occurred or is continuing on the date of such Distribution, (ii) the ratio of Consolidated Funded Indebtedness upon making such Distribution to Consolidated Adjusted EBITDA for the Rolling Period ending with the end of the most recently ended Fiscal Quarter does not exceed 3.50 to 1.00, and (iii) Unused Availability on such date is equal to or greater than the greater of (x) $30,000,000 and (y) 10% of the Commitments; provided that not more than five Business Days nor less than one Business 

Day prior to such Distribution, the Borrower shall deliver a certificate signed by a Responsible Officer certifying and reflecting computations satisfactory to Administrative Agent that the conditions set forth in the foregoing clauses (i), (ii) and (iii) have been satisfied; 
(f)    from and after the later of (i) the date of delivery of the financial statements and Compliance Certificate required by Section 6.2(b) for the Fiscal Quarter ending June 30, 2018 and (ii) the effective date of any Qualifying IPO, a Distribution of Available Cash once each Fiscal Quarter so long as, giving pro forma effect to any Indebtedness incurred at or prior to the time of such Distribution, the Borrower is in compliance with the financial covenants described in Section 7.14 on a pro forma basis; provided that not more than five Business Days nor less than one Business Day prior to such Distribution, the Borrower shall deliver a certificate signed by a Responsible Officer certifying and reflecting computations satisfactory to Administrative Agent showing compliance on a pro forma basis with the requirements of Section 7.14;
(i)    so long as (i) such payments are made within ten (10) Business Days following the consummation of a Qualifying IPO, (ii) no Default is continuing at the time of such payments, and (iii) the Borrower is in pro forma compliance with all applicable covenants set forth in Section 7.14 at the time of such payments, the Borrower may make cash Distributions in accordance with the related Qualifying IPO Registration Statement; provided that not more than five Business Days nor less than one Business Day prior to such Distribution, the Borrower shall deliver a certificate signed by a Responsible Officer certifying and reflecting computations satisfactory to Administrative Agent showing compliance on a pro forma basis with the requirements of Section 7.14; and 
3.12    Material Contracts.  Section 8.1 of the Credit Agreement is hereby amended by deleting the “and” appearing at the end of clause (k) thereof, replacing the “.” appearing at the end of clause (l) thereof with a “; and” and adding new subsection (m) immediately following subsection (l) therein, which new subsection (m) shall read in its entirety as follows:

(m) Any one or more amendments, restatements, consents, waivers, other modifications and/or terminations (other than scheduled terminations pursuant to the terms thereof) occur with respect to one or more Material Contracts involving an Affiliate of a Restricted Person (other than any such Affiliate that is itself a Restricted Person under the Loan Documents) as counterparty to the Borrower and/or its Restricted Subsidiaries during any six (6) month period that, in the aggregate, as a result of changes to rates, acreage dedications or committed volumes, decrease projected Consolidated revenue (when viewed over the next succeeding twelve-month period and considering new enforceable revenue producing contracts) of the Borrower and its Restricted Subsidiaries by more than 15% of the trailing four Fiscal Quarters’ Consolidated revenue of the Borrower and its Restricted Subsidiaries as reported in the financial statements most recently delivered in accordance with Section 6.2(b) as of the date of determination.
3.13    Amended and Restated Form of Borrowing Notice.  Exhibit B to the Credit Agreement is hereby amended and restated in its entirety as Exhibit B attached hereto. 

Section 4.    Conditions Precedent.  The effectiveness of this Amendment is subject to the following:

4.1    The Administrative Agent shall have received counterparts of this Amendment which are duly executed and delivered by the Borrower, the Administrative Agent and the Required Lenders, each of which shall be originals, facsimiles or other electronic image scan transmission (e.g., “pdf” or “tif”) (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the Borrower or the Lenders, as applicable, and each in form and substance reasonably satisfactory to the Administrative Agent.

4.2    After giving effect to the limited waiver in Section 2 hereof, (1) all representations and warranties made by any Restricted Person in any Loan Document shall be true and correct in all material respects (except where qualified by materiality, in which case, true and correct in all respects) as of the Effective Date as if such representations and warranties had been made as of such date, except to the extent that such representation or warranty was made as of a specific date, in which case such representation or warranty shall be true and correct in all material respects (except where qualified by materiality, in which case, true and correct in all respects) as of such specific date and except that for purposes of this Section 4.2, the representations and warranties contained in subsection (a) of Section 5.6 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.2 of the Credit Agreement and (2) after giving effect to the limited waiver in Section 2, no Default or Event of Default shall exist or have occurred and be continuing on and as of the Effective Date.

4.3    The Administrative Agent shall have received a perfection certificate signed by a Responsible Officer of the Borrower and in form and substance satisfactory to the Administrative Agent.

4.4  The Borrower shall have paid a consent fee payable to each of the undersigned consenting Lenders executing this Amendment on or prior to the date hereof (the “Consenting Lenders”) in an amount equal to 5 basis points (0.05%) of such Consenting Lender’s Applicable Percentage of the aggregate Commitments as of the date hereof.

Section 5.    Miscellaneous.

5.1    Confirmation and Effect.  The provisions of the Credit Agreement and each Security Document shall remain in full force and effect in accordance with its terms following the effectiveness of this Amendment, and, except as set forth in Section 2, this Amendment shall not constitute a waiver of any provision of the Credit Agreement or any other Loan Document.  

5.2    Counterparts; Integration; Effectiveness.  This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Amendment, the Credit Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4, this Amendment shall become effective when it shall have been executed by Administrative Agent and when Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Amendment. 

5.3    Loan Document.  This Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto.

5.4    Governing Law; Submission to Process.  THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. Sections 10.7(b), (c) and (d) of the Credit Agreement shall apply to this Amendment, mutatis mutandis.

5.5    Waiver of Jury Trial.  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, (A) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY), AND (B) ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LEGAL PROCEEDING ANY “SPECIAL DAMAGES”, AS DEFINED BELOW. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. AS USED IN THIS SECTION, “SPECIAL DAMAGES” INCLUDES ALL SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES (REGARDLESS OF HOW NAMED), BUT DOES NOT INCLUDE ANY PAYMENTS OR FUNDS THAT ANY PARTY HERETO AS EXPRESSLY PROMISED TO PAY OR DELIVER TO ANY OTHER PARTY HERETO. 

5.6    Payment of Expenses.  The Borrower agrees to pay or reimburse the Administrative Agent in accordance with Section 10.4 of the Credit Agreement for all of its reasonable, documented out-of-pocket costs and expenses incurred in connection with this Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent.
5.7    Severability.  If any term or provision of this Amendment shall be determined to be illegal or unenforceable all other terms and provisions of this Amendment shall nevertheless remain effective and shall be enforced to the fullest extent permitted by applicable Law.

5.8    Successors and Assigns.  The provisions of this Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted under the Credit Agreement.

5.9    Release.  The Borrower and each other Restricted Person on their own behalf and on behalf of their predecessors, successors, heirs, legal representatives and assigns (collectively, the “Releasing Parties”), hereby acknowledge and stipulate that as of the Effective Date, none of the Releasing Parties has any known claims or known causes of action of any kind whatsoever 

against Administrative Agent, any other Secured Party (IN EACH CASE, IN THEIR CAPACITIES AS SUCH) or any of their officers, directors, employees, agents, attorneys, affiliates or representatives, or against any of their successors or PERMITTED assigns, IN EACH CASE, ACTING IN RELATION TO THE LOAN DOCUMENTS or in respect of Cash Management services or hedging contracts to the extent the related Cash Management Obligations or Lender Hedging Obligations constitute Secured Obligations (each of the foregoing, collectively, the “Released Parties”).  Each of the Releasing Parties hereby forever releases, remises, discharges and holds harmless the Released Parties, from any and all known claims, causes of action, demands, and liabilities of any kind whatsoever, whether direct or indirect, fixed or contingent, liquidated or nonliquidated, disputed or undisputed, which any of the Releasing Parties has or may acquire in the future relating in any way to any event, circumstance, action, or failure to act IN RESPECT OF THE LOAN DOCUMENTS or in respect of Cash Management services or hedging contracts to the extent the related Cash Management Obligations or Lender Hedging Obligations constitute Secured Obligations PRIOR TO THE DATE HEREOF through the date of this Amendment.

5.10    Covenant Not to Sue.  The Borrower and each other Restricted Person, on their own behalf and on behalf of the Releasing Parties, hereby absolutely, unconditionally and irrevocably, covenants and agrees with and in favor of each Released Party that it will not sue (at law, in equity, in any regulatory proceeding or otherwise) any Released Party on the basis of any claim released, remised and discharged by THE Borrower or such other Restricted Person pursuant to Section 5.9 hereof.  If the Borrower or any other Restricted Person or any of their successors, PERMITTED assigns or other legal representatives violates the foregoing covenant, such Person, for itself and its successors, assigns and legal representatives, agrees to pay, in addition to such other damages as any Released Party may sustain as a result of such violation, all attorneys’ fees and costs incurred by any Released Party as a result of such violation TO THE EXTENT REQUIRED BY SECTION 10.4(A) OF THE CREDIT AGREEMENT.

5.11    Reservation of Rights.  Except with respect to the limited waiver in Section 2 hereof, no failure or delay on the part of Administrative Agent or any Lender to exercise any right or remedy under the Credit Agreement, any other Loan Document or applicable law shall operate as a consent to or waiver thereof, nor shall any single or partial exercise of any right or remedy preclude any other or further exercise of any right or remedy, all of which are cumulative and are expressly reserved.

5.12    Reaffirmation of Loan Documents; Extension of Liens.  Any and all of the terms and provisions of the Credit Agreement and the Loan Documents shall, except as amended and modified hereby, remain in full force and effect and are hereby ratified and confirmed. The Borrower and each other Restricted Person hereby extends the Liens securing the Secured Obligations until the Secured Obligations have been paid in full, and agrees that the limited waiver in Section 2 hereof and the amendments and modifications herein contained shall in no manner affect or impair the Secured Obligations or the Liens securing payment and performance thereof.

5.13    No Implied Waivers.  No failure or delay on the part of the Administrative Agent or the Lenders in exercising, and no course of dealing with respect to, any right, power or privilege under this Amendment, the Credit Agreement or any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege under this Amendment, the Credit Agreement or any other Loan Document preclude any other or further exercise thereof or the exercise of any other right, power or privilege, all of which are cumulative and are expressly reserved.  Except for the limited waiver in Section 2 hereof, nothing contained in this Amendment shall be deemed a consent to or waiver of, or a commitment or obligation on the part of the Administrative Agent or the Lenders to any future consent to or waiver of, any other action or inaction on the part of the Borrower or any other Restricted Person that constitutes (or would constitute) a violation of or departure from any covenant, condition or other obligation of the Borrower or any other Restricted Person under the Credit Agreement and the other Loan Documents.  Any such waivers or consents must be specifically agreed to in writing in accordance with Section 10.1 of the Credit Agreement.

5.14    Arms-Length/Good Faith; Review and Construction of Documents.  This Amendment has been negotiated at arms-length and in good faith by the parties hereto.  The Borrower (a) has had the opportunity to consult with legal counsel of its own choice and has been afforded an opportunity to review this Amendment with its legal counsel, (b) has reviewed this Amendment and fully understands the effects thereof and all terms and provisions contained in this Amendment, and (c) has executed this Amendment of its own free will and volition.  Furthermore, the Borrower acknowledges that (i) this Amendment shall be construed as if jointly drafted by the Borrower and the Lenders, and (ii) the recitals contained in this Amendment shall be construed to be part of the operative terms and provisions of this Amendment.  Without limiting the foregoing, Sections 1.2, 1.3 and 1.7 of the Credit Agreement shall apply to this Amendment, mutatis mutandis.

5.15    Post-Closing Covenant.  Within five (5) Business Days after the Effective Date (or such later time as is approved by the Administrative Agent in its sole discretion), duly executed counterparts of the deeds of trust and/or mortgages in respect of (i) real property interests of Oklahoma Produced Water Solutions, LLC, a Restricted Person, (A) acquired pursuant to that certain Purchase and Sale Agreement, dated as of November 9, 2018, by and between Oklahoma Energy Acquisitions, LP, as seller, and Oklahoma Produced Water Solutions, LLC, as buyer, and (B) acquired pursuant to that certain Water Gathering and Disposal 

Agreement among Oklahoma Energy Acquisitions, LP and Oklahoma Produced Water Solutions, LLC, dated October 1, 2018; and (ii) real property interests in Blaine, Canadian, Garfield, Kingfisher, Logan and Major Counties, Oklahoma acquired pursuant to (A) that certain Amended and Restated Crude Oil Gathering Agreement among Oklahoma Energy Acquisitions, LP and the Borrower, dated February 3, 2017, and (B) that certain Second Amended and Restated Gas Gathering and Processing Agreement among Oklahoma Energy Acquisitions, LP and the Borrower, dated June 29, 2018; in each case sufficient for recording purposes, in form and substance satisfactory to the Administrative Agent. Any failure to comply with this Section 5.15 shall constitute an immediate Event of Default.

[Signature Pages Follow.]

The parties hereto have caused this Amendment to be duly executed as of the day and year first above written.
BORROWER: KINGFISHER MIDSTREAM, LLC

	
			
	 
	By:
	/s/ John C. Regan

	 
	Name:
	John C. Regan

	 
	Title:
	Chief Financial Officer

Each of the undersigned (i) consents and agrees to this Amendment, and (ii) agrees that the Loan Documents to which it is a party (including, without limitation, the Security Agreement, the Pledge Agreement and the Guarantee, as applicable) shall remain in full force and effect and shall continue to be the legal, valid and binding obligation of the undersigned, enforceable against it in accordance with its terms.
KINGFISHER STACK OIL PIPELINE, LLC
	
			
	 
	By:
	/s/ John C. Regan

	 
	Name:
	John C. Regan

	 
	Title:
	Chief Financial Officer

SRII OPCO, LP

By: SRII Opco GP, LLC, its general partner
	
			
	 
	By:
	/s/ John C. Regan

	 
	Name:
	John C. Regan

	 
	Title:
	Chief Financial Officer

OKLAHOMA PRODUCED WATER SOLUTIONS, LLC
	
			
	 
	By:
	/s/ John C. Regan

	 
	Name:
	John C. Regan

	 
	Title:
	Chief Financial Officer

WELLS FARGO BANK, N.A., 
as Administrative Agent, L/C Issuer and a Lender
	
			
	 
	By:
	/s/ Brandon Kast

	 
	Name:
	Brandon Kast

	 
	Title:
	Director

ABN AMRO CAPITAL USA LLC,
a Lender
	
			
	 
	By:
	/s/ Darrell Holley

	 
	Name:
	Darrell Holley

	 
	Title:
	Managing Director

	
			
	 
	By:
	/s/ Anna C. Ferreira

	 
	Name:
	Anna C. Ferreira

	 
	Title:
	Vice President

BARCLAYS BANK PLC,
a Lender
	
			
	 
	By:
	/s/ Sydney G. Dennis

	 
	Name:
	Sydney G. Dennis

	 
	Title:
	Director

CAPITAL ONE, NATIONAL ASSOCIATION,
a Lender
	
			
	 
	By:
	/s/ Matthew Brice

	 
	Name:
	Matthew Brice

	 
	Title:
	Vice President

CITIBANK, N.A.,
a Lender
	
			
	 
	By:
	/s/ William McNeely

	 
	Name:
	William McNeely

	 
	Title:
	Senior Vice President

                                            

THE TORONTO-DOMINION BANK, NEW YORK BRANCH,
a Lender
	
			
	 
	By:
	/s/ Michael Borowiecki

	 
	Name:
	Michael Borowiecki

	 
	Title:
	Authorized Signatory

EXHIBIT B
BORROWING NOTICE
Reference is made to that certain Amended and Restated Credit Agreement dated as of May 30, 2018 (as amended or supplemented, the “Agreement”), by and among Kingfisher Midstream, LLC (the “Borrower”), Wells Fargo Bank, N.A., as Administrative Agent, and certain financial institutions (“Lenders”). Terms that are defined in the Agreement are used herein with the meanings given them in the Agreement. The Borrower hereby requests a Borrowing of new Loans to be advanced pursuant to Section 2.1 of the Agreement as follows:
	
		
	Aggregate amount of Borrowing:
	$

	Type of Loans in Borrowing:
	 

	Date on which Loans are to be advanced:
	 

	Length of Interest Period for Eurodollar Loans:
	__________ months

	If combined with existing Loans see attached Continuation/Conversion Notice.
	 

To induce Lenders to make such Loans, the Borrower hereby represents, warrants, acknowledges, and agrees to and with Administrative Agent and each Lender that:
(a)    The officer of the Borrower signing this instrument is the duly elected, qualified and acting officer of the Borrower as indicated below such officer’s signature hereto having all necessary authority to act for the Borrower in making the request herein contained.
(b)    All representations and warranties made by any Restricted Person in any Loan Document are true and correct in all material respects (except where qualified by materiality, in which case, true and correct in all respects) on and as of the date of the requested Borrowing as if such representations and warranties had been made as of the date of such Borrowing, except to the extent that such representation or warranty was made as of a specific date, in which case such representation or warranty shall be true and correct in all material respects (except where qualified by materiality, in which case, true and correct in all respects) as of such specific date and except that for purposes of this Borrowing Notice, the representations and warranties contained in subsection (a) of Section 5.6 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.2.
(c)    No Default exists as of the date of the requested Borrowing (or would result after giving effect thereto).
(d)    Except to the extent waived in writing as provided in Section 10.1(a) of the Agreement, the Borrower has performed and complied with all agreements and conditions in the Agreement required to be performed or complied with by the Borrower on or prior to the date hereof, and each of the conditions precedent to Loans contained in the Agreement remains satisfied.

(e)    (i) At the time of and immediately after giving effect to the Borrowing of the Loans (and any application of the proceeds thereof in the Ordinary Course of Business on the date of such Borrowing) requested hereby, the Facility Usage will not be in an amount in excess of the Availability, (ii) the Borrower and the Restricted Subsidiaries shall not have any Excess Cash immediately prior to or after giving effect to such Borrowing, in each case determined after giving effect to any intended use of proceeds in the Ordinary Course of Business (as set forth on Annex A to this Borrowing Notice) on or before the date that is one Business Day after the date the Borrower receives the funds from such Borrowing, nor shall such Borrowing, after giving effect to any such intended use of proceeds in the Ordinary Course of Business set forth on Annex A to this Borrowing Notice,  be in an amount that would trigger a mandatory prepayment under Section 2.7(e), and (iii) such Loans shall be funded into and maintained until used in accordance with the Agreement in (A) an account of the Borrower over which the Administrative Agent has “control” (within the meaning of Section 9.104 of the UCC) or (B) an Excluded Account to the extent permitted in accordance with the definition thereof. 
(f)    The making of such Loan as requested hereby is not prohibited by any Law.

(g)    The officer of the Borrower signing this instrument hereby certifies that, to the best of his knowledge after due inquiry, the above representations, warranties, acknowledgments, and agreements of the Borrower are true, correct and complete.
IN WITNESS WHEREOF, this instrument is executed as of _____________, 20____.
	
			
	KINGFISHER MIDSTREAM, LLC

	 
	By:
	 

	 
	Name:
	 

	 
	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}]]