Document:

SECOND
AMENDMENT TO LEASE AGREEMENT

 

THIS SECOND AMENDMENT
TO LEASE AGREEMENT ("Second Amendment") is made and entered into as of September 1, 2012 by and between SIERRA
PACIFIC INDUSTRIES, a California corporation ("Lessor"), and LAIDLAW SUSANVILLE BIOPOWER, LLC (formerly known
as Henri Susanville, LLC), a California limited liability company ("Lessee"). Unless otherwise defined herein, all capitalized
terms used in this Second Amendment shall have the definitions ascribed to them in the Lease (as defined below).

 

RECITALS:

 

WHEREAS, Lessor
and Renegy Susanville, LLC ("Renegy"), entered into that certain Lease dated January 31, 2008 (the "Lease"),
pursuant to which Renegy leased the ground (the "Premises") on which is located a biomass power plant (the "Plant")
for the purpose of operating such Plant, all as more particularly described in the Lease;

 

WHEREAS, Renegy
sold the Plant to Lessee and assigned, with Lessor's consent, the Lease to Lessee, such Lease having been amended by that certain
First Amendment to Lease dated on or about November 9, 2011 (the "First Amendment"), executed by Lessor and Lessee; and

 

WHEREAS Lessor and
Lessee desire to further amend the Lease to extend the Term of the Lease by two (2) years, reduce the size of the Premises and
reduce the amount of monthly rent.

 

TERMS OF AMENDMENT:

 

NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee hereby
agree as follows:

 

1.          Extension
of Term. Lessor and Lessee agree that the Term is hereby extended by two (2) years, with the Lease now expiring on January
30, 2015.

 

2.          Premises
Reduction. The Premises originally described in the Lease as Exhibit A shall be deleted and replaced with the new Exhibit
A attached to this second amendment. The Premises shall be reduced from forty (40) acres in the original Lease to twenty (20)
acres by this amendment.

 

3.          Rent.
Pursuant to Section 3 of the original Lease dated January 31, 2008 and Section 1 of the First Amendment dated November 2, 2011,
the rent, commencing on September 1, 2012, will be an amount equal to $625 per acre on the revised twenty acres for a total monthly
rent of $12,500.00. In the event Lessee validly exercises its option to purchase certain real property described in attached Exhibit
A under the terms and conditions of the Option Agreement, Lessee shall not be credited at the closing of such purchase with any
amount of the monthly rental payments made on and after September 1, 2012.

 

    	1

    	 

    

 

4.                    Effect
of Second Amendment. Except as otherwise amended herein, Lessor and Lessee agree that the Lease is hereby affirmed and
continues in full force and effect. All references to the "Lease" shall be deemed to be references to the Lease as
amended by the First Amendment and this Second Amendment.

 

IN WITNESS WHEREOF, each party has caused
this Second Amendment to Lease to he executed by its duly authorized representative as of the date first written above.

 

	LESSOR:	 	LESSEE:
	 	 	 
	SIERRA PACIFIC INDUSTRIES,	 	LAIDLAW SUSANVILLE BIOPOWER,
	a California corporation	 	LLC. a California limited liability company
		 	By  
	Name: M D Emmerson	 	Name: Michael Bartoszek
	Its:       Chief Finance Officer	 	Its:       President

 

    	2

    	 

    

 

EXHIBIT
A

 

SITE MAP

 

 

    	3FIRST AMENDMENT TO OPTION
AGREEMENT

 

THIS FIRST AMENDMENT TO OPTION
AGREEMENT ("First Amendment") is made and entered into as of September 1, 2012 by and between SIERRA PACIFIC INDUSTRIES,
a California corporation ("Lessor"), and LAIDLAW SUSANVILLE BIOPOWER, LLC (formerly known as Henri Susanville,
LLC), a California limited liability company ("Lessee"). Unless otherwise defined herein, all capitalized terms used
in this Second Amendment shall have the definitions ascribed to them in the Lease (as defined below).

 

RECITALS:

 

WHEREAS,
Lessor and Renegy Susanville, LLC ("Renegy"), entered into that certain Option Agreement dated January 31, 2008 (the
"Agreement"), pursuant to which Renegy optioned the ground (the "Premises") on which is located a biomass power
plant (the "Plant") for the purpose of operating such Plant, all as more particularly described in the Agreement;

 

WHEREAS,
Renegy sold the Plant to Lessee and assigned, with Lessor's consent, the Agreement to Lessee; and

 

WHEREAS
Lessor and Lessee desire to amend the Agreement to extend the Term of the Agreement by two (2) years and reduce the size of the
Premises.

 

TERMS OF AMENDMENT:

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee
hereby agree as follows:

 

1.          Extension
of Term. Lessor and Lessee agree that the Term is hereby extended by two (2) years, with the Agreement now expiring on January
30, 2015.

 

2.          Premises Reduction.
The Premises originally described in the Lease as Exhibit A shall be deleted and replaced with the new Exhibit A attached to
this second amendment. The Premises shall be reduced from forty (40) acres in the original Lease to twenty (20) acres by this
amendment.

 

3.          Effect
of First Amendment. Except as otherwise amended herein, Lessor and Lessee agree that the Agreement is hereby affirmed and
continues in full force and effect. All references to the "Agreement" shall be deemed to be references to the Option
Agreement as amended by this First Amendment.

 

IN WITNESS
WHEREOF, each party has caused this Second Amendment to Lease to be executed by its duly authorized representative as of the
date first written above.

 

    	 

    	 

    

 

	LESSOR:	 	LESSEE:
	 	 	 
	SIERRA PACIFIC INDUSTRIES,	 	LAIDLAW SUSANVILLE BIOPOWER, 
	 a California corporation 	 	LLC a California limited liability company

 

		 	By:	
	Name:	M D Emmerson	 	Name:	Michael Bartoszek
	Its:	Chief Financial Officer	 	Its:	President

 

		
		 
	 	EXHIBIT A
	 	SITE MAP

 

    	2EXECUTION VERSION

 

CONTRIBUTION AGREEMENT

 

BY AND AMONG

 

TRIANGLE CALIBER HOLDINGS, LLC

 

CALIBER MIDSTREAM GP LLC

 

CALIBER MIDSTREAM PARTNERS, L.P.

 

and

 

FREIF CALIBER HOLDINGS LLC

 

October 1, 2012

  

    	 

    	 

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Article I.	DEFINITIONS AND INTERPRETATIONS	2
	1.1	Definitions	2
	1.2	Interpretations	2
	 	 	 
	Article II.	CONTRIBUTIONS	2
	2.1	Contributions to Caliber GP	2
	2.2	Contributions to Caliber Partners	2
	2.3	Redemption of Organizational Interests; Retention of General Partner Interest	3
	 	 	 
	Article III.	CLOSING; CLOSING DELIVERIES	3
	3.1	Time and Place of Closing	3
	3.2	Deliveries by Triangle Holdings at Closing	3
	3.3	Deliveries by FREIF at Closing	4
	3.4	Deliveries by the Caliber Entities	5
	3.5	Transactions; Transaction Documents	6
	 	 	 
	Article IV.	REPRESENTATIONS AND WARRANTIES OF THE CALIBER ENTITIES	6
	4.1	Organization; Qualification	6
	4.2	Authority; Enforceability	7
	4.3	No Violation; Consents and Approvals	7
	4.4	Capitalization of Caliber GP	8
	4.5	Capitalization of Caliber Partners	8
	4.6	Capitalization of Caliber Sub	9
	4.7	No Preemptive Rights or Voting Agreements	9
	4.8	Brokers’ Fee	10
	4.9	No Other Subsidiaries	10
	 	 	 
	Article V.	REPRESENTATIONS AND WARRANTIES OF FREIF AND OF TRIANGLE HOLDINGS	10
	5.1	Organization; Qualification	10
	5.2	Authority; Enforceability	10
	5.3	No Violation; Consents and Approvals	11
	5.4	Accredited Investor	12
	5.5	Brokers’ Fee	12
	 	 	 
	Article VI.	COVENANTS OF THE PARTIES	12
	6.1	Expenses	12
	6.2	[Reserved]	12
	6.3	Transfer Taxes	13

 

    	i

    	 

    

 

	6.4	Further Assurances; Cooperation	13
	 	 	 
	Article VII.	INDEMNIFICATION	13
	7.1	[Reserved]	13
	7.2	Indemnification by FREIF	13
	7.3	Indemnification by Triangle Holdings	13
	7.4	Limitations and Other Indemnity Claim Matters	14
	7.5	Indemnification Procedures	15
	7.6	No Reliance	16
	 	 	 
	Article VIII.	CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL	17
	8.1	Consent to Jurisdiction and Service of Process; Appointment of Agent for Service of Process	17
	8.2	Waiver of Jury Trial	18
	 	 	 
	Article IX.	MISCELLANEOUS PROVISIONS	18
	9.1	Amendment and Modification	18
	9.2	Waiver of Compliance; Consents	18
	9.3	Notices	18
	9.4	Assignment	19
	9.5	Governing Law	20
	9.6	Facsimiles; Electronic Transmission, Counterparts	20
	9.7	Entire Agreement	20
	9.8	Severability	20
	9.9	Third Party Beneficiaries	20
	9.10	Confidentiality	21
	9.11	Time of Essence	21

 

    	ii

    	 

    

 

	Exhibit A	—	Definitions; Interpretations
	Exhibit B	—	Conveyed Assets
	Exhibit C	—	Partnership Agreement
	Exhibit D	—	GP LLC Agreement
	Exhibit E	—	Midstream Services Agreement
	Exhibit F	—	Midstream Services Agreement (Crude Oil)
	Exhibit G	—	Warrant Agreement
	Exhibit H	—	Services Agreement
	Exhibit I	—	Assignment and Assumption Agreement

 

 

    	iii

    	 

    

 

CONTRIBUTION AGREEMENT

 

This CONTRIBUTION AGREEMENT
(this “Agreement”), dated as of October 1, 2012, is made and entered into by and among Triangle Caliber
Holdings, LLC, a Delaware limited liability company (“Triangle Holdings”), Caliber Midstream Partners,
L.P., a Delaware limited partnership (“Caliber Partners”), Caliber Midstream GP LLC, a Delaware limited
liability company (“Caliber GP”) and FREIF Caliber Holdings LLC, a Delaware limited liability company
(“FREIF”). Each of the foregoing is referred to herein as a “Party” and collectively
as the “Parties.”

 

RECITALS:

 

WHEREAS, (i) FREIF
and Triangle Holdings previously formed and own 100% of the equity interests in Caliber GP, (ii) Triangle Petroleum Corporation,
a Nevada corporation and the parent of Triangle Holdings (“Triangle Petroleum”), previously formed Caliber
Midstream, LLC, a Delaware limited liability company (“Caliber Midstream”), of which 100% of the equity
interests is now owned by Triangle Holdings, (iii) Caliber GP, as the general partner, and FREIF and Triangle Holdings, as
the organizational limited partners (the “Organizational Limited Partners”), previously formed Caliber
Partners and (iv) Caliber Partners previously formed and owns 100% of the equity interests in Caliber North Dakota LLC, a Delaware
limited liability company (“Caliber Sub”, and with Caliber GP and Caliber Partners, the “Caliber
Entities”);

 

WHEREAS, immediately
prior to the Closing, Triangle Petroleum contributed 100% of its membership interest in Caliber Midstream to Triangle Holdings;

 

WHEREAS, Caliber GP
is the sole general partner of Caliber Partners and holds a non-economic general partner interest in Caliber Partners and FREIF
and Triangle Holdings are all of the limited partners of Caliber Partners and own all of the organizational limited partner interests
in Caliber Partners (the “Organizational Interests”);

 

WHEREAS, at Closing,
Triangle Holdings will contribute $500 to Caliber GP in exchange for 500 LLC Units (as defined herein), and FREIF will contribute
$500 to Caliber GP in exchange for 500 LLC Units;

 

WHEREAS, at Closing,
(i) Triangle Holdings will (A) contribute to Caliber Partners the excess of $12.0 million over the Pre-Closing Cash Contribution
Amount (as defined herein) and (B) cause Caliber Midstream to convey to Caliber Sub the Conveyed Assets (as defined below),
in exchange for 3,000,000 Class A Units (as defined herein) and 4,000,000 Class A Trigger Units to be issued to Triangle Holdings,
(ii) FREIF will contribute to Caliber Partners $28.0 million in exchange for 7,000,000 Class A Units and (iii) Triangle
Holdings and FREIF will agree to contribute to the capital of Caliber Partners an aggregate of $18.0 million and $42.0 million,
respectively, such additional contributions to be made from time to time after Closing as contemplated in Section 2.2 and
in accordance with and subject to the provisions of Section 5.3(c) of the Partnership Agreement (as defined below);

 

WHEREAS, at Closing,
the LLC Units, Class A Units and Class A Trigger Units shall be issued in uncertificated form;

 

    	 

    	 

    

 

WHEREAS, at Closing,
effective with the issuance of LLC Units to FREIF and Triangle Holdings as members of Caliber GP, the 100% equity interests owned
by FREIF and Triangle Holdings prior to Closing will be redeemed by Caliber GP and their $1,000 capital contribution refunded;
and

 

WHEREAS, at Closing,
(i) effective with the issuance of Class A Units to FREIF and the issuance of Class A Units and Class A Trigger Units to Triangle
Holdings as limited partners of Caliber Partners, the Organizational Interests of the Organizational Limited Partners will be redeemed
by Caliber Partners and their $1,000 capital contribution refunded and (ii) Caliber GP will retain its non-economic general
partner interest in Caliber Partners;

 

NOW THEREFORE, in consideration
of the mutual covenants, representations, warranties and agreements contained herein, and of other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties hereto hereby
agree as follows:

 

Article I.

DEFINITIONS AND INTERPRETATIONS

 

1.1           Definitions.
Unless otherwise provided to the contrary in this Agreement, capitalized terms in this Agreement have the meanings set forth in
Section 1.1 of Exhibit A.

 

1.2           Interpretations.
Unless expressly provided to the contrary in this Agreement, this Agreement shall be interpreted in accordance with the provisions
set forth in Section 1.2 of Exhibit A.

 

Article II.

CONTRIBUTIONS

 

2.1          Contributions
to Caliber GP. At the Closing, (a) Triangle Holdings shall make a capital contribution to Caliber GP of $500 in cash in
exchange for the issuance by Caliber GP of 500 LLC Units and (b) FREIF shall make a capital contribution to Caliber GP of
$500 in cash in exchange for the issuance by Caliber GP of 500 LLC Units.

 

2.2          Contributions
to Caliber Partners.

 

(a)          At
Closing, (i) Triangle Holdings shall (A) make a capital contribution to Caliber Partners of an amount equal to the excess
of $12,000,000 over the Pre-Closing Cash Contribution Amount by wire transfer of immediately available funds (the “Triangle
Closing Cash Contribution Amount”) and (B) cause Caliber Midstream to convey to Caliber Sub the assets set forth
on Exhibit B hereto (the “Conveyed Assets”) in exchange for the issuance by Caliber Partners to
Triangle Holdings of 3,000,000 Class A Units and 4,000,000 Class A Trigger Units, and (ii) FREIF shall make an aggregate
capital contribution to Caliber Partners of $28,000,000 by wire transfer of immediately available funds (the “FREIF
Closing Cash Contribution Amount”) in exchange for the issuance by Caliber Partners to FREIF of 7,000,000 Class A
Units.

 

    	2

    	 

    

 

(b)          The
Parties acknowledge that, from time to time after Closing, Triangle Holdings and FREIF shall be obligated to make additional capital
contributions to Caliber Partners in accordance with and subject to the provisions of Section 5.3(c) of the Partnership
Agreement so that (i) the aggregate amount of such additional cash capital contributions by Triangle Holdings (the “Additional
Triangle Cash Contributions”) is equal to the excess of (x) $30,000,000 over (y) the sum of the Pre-Closing Cash
Contribution Amount plus the Triangle Closing Cash Contribution Amount, and the aggregate amount of such additional cash capital
contributions by FREIF (the “Additional FREIF Cash Contributions”) is equal to the excess of (A) $70,000,000
over (B) the FREIF Closing Cash Contribution Amount, and, in each case, such additional capital contributions shall be made as
of the contribution dates and in the amounts set forth on Schedule 2.2(a) attached hereto. The Parties further acknowledge
that if either of Triangle Holdings or FREIF does not make any Additional Triangle Cash Contributions or any Additional FREIF Cash
Contributions, as applicable, as contemplated by the Partnership Agreement, such Party will forfeit its interests in the General
Partner and the Partnership, as set forth in the GP LLC Agreement and the Partnership Agreement, respectively. For purposes of
this Agreement, the “Pre-Closing Cash Contribution Amount” shall be the aggregate amount of cash and
capital expenditures contributed by Triangle Petroleum or any of its Affiliates to Caliber Midstream, or paid by Triangle Petroleum
or any of its Affiliates on behalf of Caliber Midstream, as of the date of this Agreement and as set forth on Schedule 2.2(b)
attached hereto.

 

2.3          Redemption
of Organizational Interests; Retention of General Partner Interest. At the Closing, (a) effective with the issuance of
LLC Units to FREIF and Triangle Holdings as members of Caliber GP, the 100% equity interests owned by FREIF and Triangle prior
to Closing will be redeemed by Caliber GP and their $1,000 capital contribution refunded; (b) effective with the issuance of Class A
Units and Class A Trigger Units to Triangle Holdings and Class A Units to FREIF and their admission as limited partners of Caliber
Partners, the Organizational Interests in Caliber Partners of the Organizational Limited Partners will be redeemed and their $1,000
capital contribution refunded and (c) Caliber GP will retain its non-economic general partner interest in Caliber Partners.

 

Article III.

CLOSING; CLOSING DELIVERIES

 

3.1          Time
and Place of Closing. Subject to the terms and conditions hereof, the closing of the transactions referred to in 2.1,
2.2 and 2.3 (the “Closing”) shall take place at the offices of Vinson & Elkins LLP,
1001 Fannin St., Houston, Texas 77002, commencing at 9:00 a.m., local time, on the date hereof (the “Closing Date”).

 

3.2          Deliveries
by Triangle Holdings at Closing. At the Closing, Triangle Holdings shall deliver or cause to be delivered:

 

(a)           to
FREIF:

 

(i)          a
counterpart of the First Amended and Restated Agreement of Limited Partnership of Caliber Partners, in the form of Exhibit C
hereto (the “Partnership Agreement”), which shall have been duly executed by Triangle Holdings;

 

    	3

    	 

    

 

(ii)         a
counterpart of the Amended and Restated Limited Liability Company Agreement of Caliber GP, in the form of Exhibit D hereto
(the “GP LLC Agreement”), which shall have been duly executed by Triangle Holdings;

 

(iii)        a
counterpart of the Midstream Services Agreement, in the form of Exhibit E hereto (the “Midstream Services Agreement”),
which shall have been duly executed by Triangle USA Petroleum Corporation, a Colorado corporation and an Affiliate of Triangle
Holdings (“Triangle USA”);

 

(iv)        a
counterpart of the Midstream Services Agreement (Crude Oil), in the form of Exhibit F hereto (the “Midstream
Services Agreement (Crude Oil)”), which shall have been duly executed by Triangle USA;

 

(v)         a
counterpart of the Warrant Agreement, in the form of Exhibit G hereto (the “Warrant Agreement”),
which shall have been duly executed by Triangle Holdings;

 

(vi)        a
counterpart of the Services Agreement, in the form of Exhibit H hereto (the “Services Agreement”),
which shall have been duly executed by Triangle Petroleum;

 

(vii)       a
long-form certificate of good standing issued by the Secretary of State of the state of formation of Triangle Holdings, dated a
recent date, as to the existence and good standing of Triangle Holdings; and

 

(viii)      a
certificate duly executed by an authorized officer of Triangle Holdings, dated as of the Closing Date, setting forth the resolutions
of the sole member of Triangle Holdings authorizing the execution and delivery of this Agreement and of the other Transaction Documents
to which Triangle Holdings is a party and certifying that such resolutions were duly adopted and have not been rescinded or amended;

 

(b)          to
Caliber Partners, by wire transfer of immediately available funds, the Triangle Closing Cash Contribution Amount; and

 

(c)          to
Caliber Sub, a duly executed assignment of the Conveyed Assets, in the form attached hereto as Exhibit I (the “Assignment
and Assumption Agreement”), transferring the Conveyed Assets to Caliber Sub.

 

3.3          Deliveries
by FREIF at Closing. At the Closing, FREIF shall deliver or cause to be delivered:

 

(a)          to
Triangle Holdings:

 

    	4

    	 

    

 

(i)          a
counterpart of the Partnership Agreement, which shall have been duly executed by FREIF;

 

(ii)         a
counterpart of the GP LLC Agreement, which shall have been duly executed by FREIF;

 

(iii)        a
long-form certificate of good standing issued by the Secretary of State of the State of Delaware, dated a recent date, as to the
existence and good standing of FREIF; and

 

(iv)        a
certificate duly executed by an authorized officer of FREIF, dated as of the Closing Date, setting forth the resolutions of the
sole member of FREIF authorizing the execution and delivery of this Agreement and of the other Transaction Documents to which FREIF
is a party and certifying that such resolutions were duly adopted and have not been rescinded or amended; and

 

(b)          to
Caliber Partners, by wire transfer of immediately available funds, the FREIF Closing Cash Contribution Amount.

 

3.4          Deliveries
by the Caliber Entities. At the Closing, the Caliber Entities shall deliver or cause to be delivered to Triangle Holdings and
FREIF:

 

(a)          a
counterpart of the Partnership Agreement, which shall have been duly executed by Caliber GP;

 

(b)          a
counterpart of the Midstream Services Agreement, which shall have been duly executed by Caliber Partners;

 

(c)          a
counterpart of the Midstream Services Agreement (Crude Oil), which shall have been duly executed by Caliber Partners;

 

(d)          a
counterpart of the Warrant Agreement, which shall have been duly executed by Caliber GP and Caliber Partners;

 

(e)          a
counterpart of the Services Agreement, which shall have been duly executed by Caliber GP and Caliber Partners;

 

(f)          a
counterpart of the Assignment and Assumption Agreement, which shall have been duly executed by Caliber Sub;

 

(g)          a
long-form certificate of good standing issued by the Secretary of State of the state of formation of each of the Caliber Entities,
each dated a recent date, as to the existence and good standing of each such entity; and

 

    	5

    	 

    

 

(h)          a
certificate duly executed by an authorized officer of Caliber GP, dated as of the Closing Date, (i) setting forth the resolutions
of all of the members of Caliber GP authorizing (A) the execution and delivery of this Agreement and of the other Transaction Documents
to which Caliber GP or Caliber Partners is a party, (B) the issuance by Caliber GP of 500 LLC Units to Triangle Holdings and 500
LLC Units to FREIF and (C) the issuance by Caliber Partners of 3,000,000 Class A Units and 4,000,000 Class A Trigger Units to Triangle
Holdings and 7,000,000 Class A Units to FREIF and (ii) certifying that such resolutions were duly adopted and have not been rescinded
or amended.

 

3.5           Transactions;
Transaction Documents. The transactions described in 2.1 and 2.2 and the execution, delivery and performance
of each of the Transaction Documents, are referred to herein as the “Transactions.” The “Transaction
Documents” shall mean this Agreement, the Partnership Agreement, the GP LLC Agreement, the Midstream Services Agreement,
the Midstream Services Agreement (Crude Oil), the Warrant Agreement and the Services Agreement.

 

Article IV.

REPRESENTATIONS AND WARRANTIES OF THE CALIBER ENTITIES

 

Each of the Caliber
Entities hereby jointly and severally makes the following representations and warranties to FREIF and to Triangle Holdings:

 

4.1          Organization;
Qualification.

 

(a)          Each
of Caliber GP and Caliber Sub is a limited liability company duly formed, validly existing and in good standing under the Laws
of the State of Delaware and has all requisite limited liability company power and authority to own, lease, license, use and operate
its properties and assets and to carry on its business, and is duly qualified, registered or licensed to do business as a foreign
limited liability company and is in good standing in each jurisdiction in which the property or other assets owned, leased, licensed,
used or operated by it or the nature of the business conducted by it makes such qualification necessary, except where the failure
to be so duly qualified, registered or licensed and in good standing as a foreign limited liability company would not, individually
or in the aggregate, be material to the Caliber Entities (taken as a whole), the Proposed Business or the performance by the Caliber
Entities of their obligations under the Transaction Documents.

 

(b)          Caliber
Partners is a limited partnership duly formed, validly existing and in good standing under the Laws of the State of Delaware and
has all requisite limited partnership power and authority to own, lease, license, use and operate its properties and assets and
to carry on its business, and is duly qualified, registered or licensed to do business as a foreign limited partnership and is
in good standing in each jurisdiction in which the property or other assets owned, leased, licensed, used or operated by it or
the nature of the business conducted by it makes such qualification necessary, except where the failure to be so duly qualified,
registered or licensed and in good standing as a foreign limited partnership would not, individually or in the aggregate, be material
to the Caliber Entities (taken as a whole), the Proposed Business or the performance by the Caliber Entities of their obligations
under the Transaction Documents.

 

    	6

    	 

    

 

4.2          Authority;
Enforceability.

 

(a)          Each
of the Caliber Entities has the requisite limited partnership or limited liability company, as applicable, power and authority
to execute and deliver the Transaction Documents to which it is a party and to consummate the Transactions to which it is a party.
The execution and delivery by each of the Caliber Entities of the Transaction Documents to which it is a party, and the consummation
by each such Caliber Entity of the Transactions to which it is a party, have been duly and validly authorized by each such Caliber
Entity, and no other limited partnership or limited liability company, as applicable, proceedings on the part of such Caliber Entities
are necessary to authorize the Transaction Documents or to consummate the Transactions.

 

(b)          Each
of the Transaction Documents to which each of the Caliber Entities is a party has been duly executed and delivered by such Caliber
Entity, as applicable, and, assuming the due authorization, execution and delivery by the other parties thereto (other than the
Caliber Entities, as applicable), each Transaction Document to which each Caliber Entity is a party constitutes the valid and binding
agreement of such Caliber Entity, as applicable, and is enforceable against such Caliber Entity in accordance with its terms, except
as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar Laws relating to or affecting creditors’ rights generally and by general principles of equity (regardless of whether
such enforceability is considered in a proceeding in equity or at law).

 

4.3          No
Violation; Consents and Approvals.

 

(a)          The
execution, delivery and performance of the Transaction Documents by the Caliber Entities that are party thereto and the consummation
by the Caliber Entities of the Transactions do not and will not: (i) result in any breach of any provision of the Charter
Documents of any of the Caliber Entities; (ii) constitute a default (or an event that with notice or lapse of time or both
would give rise to a default) under, or give rise to any right of termination, cancellation, amendment or acceleration (with or
without notice, lapse of time or both), or give rise to the loss of a benefit under, or trigger any transfer or “change of
control” related right under, any of the terms, conditions or provisions of any Contract to which any Caliber Entity is a
party or by which any of their respective assets or properties are bound or affected, except for such defaults, terminations, amendments,
acceleration or cancellation rights or violations, losses of benefits or transfer or “change of control” related rights
that would not, individually or in the aggregate, be material to the Caliber Entities, the Proposed Business or the performance
by the Caliber Entities of their obligations under the Transaction Documents; (iii) result in a violation of any Law, statute,
rule, regulation, Order, judgment, injunction, decree or other restriction of any Governmental Authority to which any of the Caliber
Entities is subject (including federal and state securities Laws and regulations) or by which any of their properties or assets
are bound or affected; or (iv) result in the creation or imposition of any Lien, charge or encumbrance upon any property or
assets of any of the Caliber Entities, except for Permitted Liens.

 

    	7

    	 

    

 

(b)          No
declaration, filing or registration with, or notice to, or authorization, consent, Order, license, qualification, permit, exemption
or approval of, any Governmental Authority is necessary for the consummation of the Transactions, other than such declarations,
filings, registrations, notices, authorizations, consents, Orders, licenses, qualifications, permits, exemptions or approvals obtained
or made prior to the date hereof.

 

4.4          Capitalization
of Caliber GP.

 

(a)          Prior
to the Closing, FREIF and Triangle Holdings own of record and beneficially all of the outstanding Equity Interests of Caliber GP,
free and clear of any and all Liens (other than as specified in the limited liability company agreement of Caliber GP and restrictions
on transfer under applicable securities laws). After giving effect to the Transactions, immediately following the Closing, (i) Triangle
Holdings will own, of record and beneficially, 500 LLC Units and (ii) FREIF will own, of record and beneficially, 500 LLC
Units, in each case, free and clear of all Liens (other than restrictions arising under applicable securities Laws or the GP LLC
Agreement), and no other Equity Interests of Caliber GP will be issued and outstanding.

 

(b)          All
of the Equity Interests in Caliber GP issued and outstanding prior to the Closing have been, and after giving effect to the Transactions,
immediately following Closing, the LLC Units that are issued in accordance with Section 2.1 will have been, duly authorized,
validly issued, fully paid (to the extent required under the GP LLC Agreement) and nonassessable (except as such nonassessability
may be affected by Sections 18-607 and 18-804 of the Delaware LLC Act).

 

4.5          Capitalization
of Caliber Partners.

 

(a)          Prior
to the Closing, Caliber GP and the Organizational Limited Partners own of record and beneficially all of the outstanding Equity
Interests of Caliber Partners, free and clear of any and all Liens (other than as specified in the agreement of limited partnership
of Caliber Partners and restrictions on transfer under applicable securities laws). After giving effect to the Transactions, immediately
following the Closing, (i) Caliber GP will own, of record and beneficially, a non-economic general partner interest in Caliber
Partners, (ii) Triangle Holdings will own, of record and beneficially, 3,000,000 Class A Units and 4,000,000 Class A
Trigger Units and will also be a party to the Warrant Agreement and (iii) FREIF will own, of record and beneficially, 7,000,000
Class A Units, in each case, free and clear of all Liens (other than restrictions arising under applicable securities Laws,
the Partnership Agreement or the GP LLC Agreement), and no other Equity Interests of Caliber Partners will be issued and outstanding
or subject to issuance (except as and to the extent expressly contemplated by any Transaction Document).

 

(b)          The
non-economic general partner interest in Caliber Partners issued and outstanding prior to the Closing that, after giving effect
to the Transactions immediately following Closing, will continue to be issued and outstanding, has been duly authorized and validly
issued.

 

    	8

    	 

    

 

(c)          The
Class A Units and Class A Trigger Units that will be issued and outstanding have been duly authorized and, when issued in
accordance with Section 2.2, will be validly issued, fully paid (to the extent required under the Partnership Agreement)
and nonassessable (except as such nonassessability may be affected by Sections 17-607 and 17-804 of the Delaware LP Act).

 

4.6          Capitalization
of Caliber Sub.

 

(a)          Prior
to the Closing, Caliber Partners owns of record and beneficially all of the outstanding Equity Interests of Caliber Sub, free and
clear of any and all Liens (other than as specified in the limited liability company agreement of Caliber Sub and restrictions
on transfer under applicable securities laws). After giving effect to the Transactions, immediately following the Closing, Caliber
Partners will own, of record and beneficially, a 100% limited liability company membership interest in Caliber Sub, free and clear
of any and all Liens (other than as specified in the limited liability company agreement of Caliber Sub and restrictions on transfer
under applicable securities laws), and no other Equity Interests in Caliber Sub will be issued and outstanding or subject to issuance
(except as and to the extent expressly contemplated by any Transaction Document).

 

(b)          All
of the Equity Interests in Caliber Sub issued and outstanding prior to the Closing have been, and all of the Equity Interests in
Caliber Sub that will be issued and outstanding after giving effect to the Transactions, immediately following Closing, will have
been, duly authorized, validly issued, fully paid (to the extent required under the limited liability company agreement of Caliber
Sub) and nonassessable (except as such nonassessability may be affected by Sections 18-607 and 18-804 of the Delaware LLC Act).

 

4.7          No
Preemptive Rights or Voting Agreements.

 

(a)          Except
as set forth in the Transaction Documents, there are no (i) preemptive or other outstanding rights, options, warrants, conversion
rights, stock appreciation rights, redemption rights, repurchase rights, agreements, arrangements, calls, subscription agreements,
rights of first offer, rights of first refusal, tag along rights, drag along rights, subscription rights, conversion rights, exchange
rights, or commitments or other rights of any kind or character relating to or entitling any Person to purchase or otherwise acquire
any Equity Interests of any of the Caliber Entities or requiring any of the Caliber Entities to issue, transfer, convey, assign
or sell any such Equity Interests; (ii) shareholders’ agreements, unitholder agreements, voting trusts, proxies or other
agreements, instruments or understandings with respect to the purchase, sale, transfer or voting of the outstanding Equity Interests
of any Caliber Entity or (iii) Contracts under which any Caliber Entity is obligated to repurchase, redeem, retire or otherwise
acquire any Equity Interest of any of the Caliber Entities. Except as set forth in the Transaction Documents, no Equity Interests
of any of the Caliber Entities are reserved for issuance.

 

    	9

    	 

    

 

(b)          None
of the Caliber Entities has outstanding any bonds, debentures, notes or other Contracts or obligations the holders of which have
the right to vote (or which are convertible into or exercisable for securities having the right to vote) with the equity holders
in any of the Caliber Entities, on any matter, nor are there existing any Contracts or commitments to issue the same.

 

(c)          None
of the Equity Interests in any of the Caliber Entities has been offered, issued, sold or transferred in violation of any applicable
Law or pre-emptive or similar rights. Except as set forth in the Transaction Documents, none of the Caliber Entities is under any
obligation, contingent or otherwise, by reason of any Contract to register the offer and sale or resale of any of its securities
under the Securities Act.

 

4.8           Brokers’
Fee. No broker, finder or similar intermediary has acted for or on behalf of, or is entitled to any broker, finder or similar
fee or other commission from any of the Caliber Entities or any of their Affiliates in connection with this Agreement or the transactions
contemplated hereby.

 

4.9           No
Other Subsidiaries. Except for the Caliber GP’s record and beneficial ownership of a non-economic general partner interest
in Caliber Partners and Caliber Partners’ record and beneficial ownership of all of the Equity Interests in Caliber Sub,
after giving effect to the Transactions, none of the Caliber Entities will own or hold any Equity Interests in any Person.

 

Article V.

REPRESENTATIONS AND WARRANTIES OF FREIF AND OF TRIANGLE HOLDINGS

 

FREIF, only with respect
to itself, hereby makes the following representations and warranties to the Caliber Entities and to Triangle Holdings, and Triangle
Holdings, only with respect to itself, hereby makes the following representations and warranties to the Caliber Entities and to
FREIF:

 

5.1          Organization;
Qualification. Each of FREIF and Triangle Holdings is a limited liability company duly formed, validly existing and in good
standing under the Laws of the State of Delaware and has the requisite limited liability company power and authority to own, lease,
license, use and operate its properties and assets and to carry on its business, and is duly qualified, registered or licensed
to do business as a foreign limited liability company and is in good standing in each jurisdiction in which the property or other
assets owned, leased, licensed, used or operated by it or the nature of the business conducted by it makes such qualification necessary,
except where the failure to be so duly qualified, registered or licensed and in good standing as a foreign limited liability company
would not, individually or in the aggregate, be material to the performance by FREIF or Triangle Holdings of its obligations under
the Transaction Documents to which it is a party.

 

5.2          Authority;
Enforceability.

 

(a)          Each
of FREIF and Triangle Holdings has the requisite limited liability company power and authority to execute and deliver the Transaction
Documents to which it is a party and to consummate the Transactions to which it is a party. The execution and delivery by FREIF
and Triangle Holdings of the Transaction Documents to which it is a party, and the consummation by FREIF and Triangle Holdings
of the Transactions to which it is party, have been duly and validly authorized by FREIF and by Triangle Holdings, and no other
limited liability company proceedings on the part of FREIF or Triangle Holdings are necessary to authorize the Transaction Documents
to which it is a party or to consummate the Transactions to which it is a party.

 

    	10

    	 

    

 

(b)          Each
of the Transaction Documents to which each of FREIF and Triangle Holdings is a party has been duly executed and delivered by FREIF
and by Triangle Holdings and, assuming the due authorization, execution and delivery by the other parties thereto, constitutes
the valid and binding agreement of FREIF and Triangle Holdings and is enforceable against FREIF and Triangle Holdings in accordance
with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar Laws relating to or affecting creditors’ rights generally or general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law).

 

5.3          No
Violation; Consents and Approvals.

 

(a)          The
execution, delivery and performance by each of FREIF and Triangle Holdings of each Transaction Document to which it is a party
and the consummation by FREIF and Triangle Holdings of the Transactions to which it is a party do not and will not: (i) result
in any breach of any provision of the Charter Documents of FREIF or Triangle Holdings; (ii) constitute a default (or an event
that with notice or lapse of time or both would give rise to a default) under, or give rise to any right of termination, cancellation,
amendment or acceleration (with or without notice, lapse of time or both), or give rise to the loss of a benefit under, or trigger
any transfer or “change of control” related right under, any of the terms, conditions or provisions of any material
Contract to which FREIF or Triangle Holdings is a party or by which any of its property or assets are bound or affected, except
for such defaults, terminations, amendments, acceleration or cancellation rights or violations that would not, individually or
in the aggregate, materially impair FREIF’s or Triangle Holding’s ability to perform its obligations under each Transaction
Document to which it is a party or consummate the transactions contemplated thereby; (iii) result in a violation of any Law,
statute, rule, regulation, Order, judgment, injunction, decree or other restriction of any Governmental Authority to which FREIF
or Triangle Holdings is subject (including federal and state securities Laws and regulations) or by which any of its property or
assets are bound or affected; or (iv) result in the creation or imposition of any Lien, charge or encumbrance upon any property
or assets of FREIF or of Triangle Holdings, except for Permitted Liens.

 

(b)          No
declaration, filing or registration with, or notice to, or authorization, consent, Order, license, qualification, permit, exemption
or approval of, any Governmental Authority is necessary for the consummation by FREIF or of Triangle Holdings of the Transactions
to which it is party, other than such declarations, filings, registrations, notices, authorizations, consents, Orders, licenses,
qualifications, permits, exemptions or approvals obtained or made prior to the date hereof.

 

    	11

    	 

    

 

5.4           Accredited
Investor. Each of Triangle Holdings and FREIF is an informed and sophisticated investor experienced in financial and business
matters and the evaluation and investment in businesses such as the Caliber Entities. Each of Triangle Holdings and FREIF is an
“accredited investor” as that term is defined in Rule 501 of Regulation D promulgated under the Securities Act. Triangle
Holdings is acquiring Class A Units, Class A Trigger Units and LLC Units and FREIF is acquiring Class A Units and LLC
Units pursuant to this Agreement, in each case, for investment and not with a view toward or for sale in connection with any distribution
thereof or with a present intention of distributing or selling such Class A Units, Class A Trigger Units or LLC Units. Each
of Triangle Holdings and FREIF agrees that its Class A Units, Class A Trigger Units and LLC Units, as applicable, may not
be sold, transferred, offered for sale, pledged, hypothecated or otherwise disposed of (a) except in accordance with the requirements
of the Partnership Agreement, in the case of the Class A Units and the Class A Trigger Units, (b) except in accordance with
the requirements of the GP LLC Agreement, in the case of the LLC Units, or (c) without registration under the Securities Act,
except pursuant to an exemption from such registration requirements available under the Securities Act. Each of Triangle Holdings
and FREIF has undertaken such investigation as it has deemed necessary to enable it to make an informed decision with respect to
the execution, delivery and performance of this Agreement. The foregoing shall in no way limit or affect any of the representations
or warranties in Article IV or any covenant or agreement in this Agreement, or any Liability of FREIF or of Triangle
Holdings for any breach thereof.

 

5.5           Brokers’
Fee. No broker, finder or similar intermediary has acted for or on behalf of, or is entitled to any broker, finder or similar
fee or other commission from FREIF or any of its Affiliates, or Triangle Holdings or any of its Affiliates, that will be payable
by any of the Caliber Entities, FREIF or Triangle Holdings, in connection with this Agreement or the transactions contemplated
hereby.

 

Article VI.

COVENANTS OF THE PARTIES

 

6.1           Expenses.
Other than with respect to Transfer Taxes, which shall be the subject of Section 6.3, or as otherwise provided in this
Agreement, all costs and expenses (including legal, accounting, financial advisory and consulting fees and expenses) incurred by
Triangle Holdings and its Affiliates in connection with the negotiation and consummation of the transactions contemplated by this
Agreement shall be paid by Triangle Holdings, and all costs and expenses (including legal, accounting, financial advisory and consulting
fees and expenses) incurred by FREIF and its Affiliates in connection with the negotiation and consummation of the transactions
contemplated by this Agreement shall be paid by FREIF; provided, however, that if any action at law or equity is
necessary to enforce or interpret the terms of this Agreement, the prevailing Party shall be entitled to reasonable attorney’s
fees, costs and necessary disbursements in addition to any other relief to which such Party may be entitled.

 

6.2           [Reserved].

 

    	12

    	 

    

 

6.3           Transfer
Taxes. Caliber Partners and Caliber Sub shall file all necessary Tax Returns and other documentation with respect to all Transfer
Taxes resulting from the transactions contemplated by this Agreement and shall be responsible for and shall pay any such Transfer
Taxes.

 

6.4           Further
Assurances; Cooperation. On and after the Closing Date, without consideration, the Parties shall, on request, cooperate with
one another by promptly furnishing any additional information, executing and delivering any additional documents and instruments
(including Contract assignments, deeds of conveyance, bills of sale and evidence of title transfer as may be necessary to effect
the transfer and conveyance of the Conveyed Assets to Caliber Sub) and doing any and all such other things as may be reasonably
requested by the Parties or their counsel to consummate or otherwise implement the Transactions.

 

Article VII.

INDEMNIFICATION

 

7.1           [Reserved].

 

7.2           Indemnification
by FREIF. Subject to the terms of this Article VII, from and after the Closing, FREIF shall indemnify and hold
harmless Triangle Holdings and its Affiliates and the respective officers, directors, employees, partners, members, equity holders,
and agents and investment advisors of the foregoing (collectively, the “Triangle Indemnitees”) and the
Caliber Entities and their Affiliates and the respective officers, directors, employees, partners, members, equity holders, and
agents and investment advisors of the foregoing (collectively, the “Caliber Indemnitees”), to the fullest
extent permitted by Law, from and against any losses, claims, damages, liabilities, costs and expenses (including attorneys’
fees and expenses), interest, penalties, Taxes, judgments and settlements (collectively, “Losses”) incurred,
arising out of or relating to:

 

(a)          the
failure of any of the representations or warranties of FREIF contained in this Agreement to be true and correct as of the date
of this Agreement; and

 

(b)          any
breach of any of the covenants of FREIF in this Agreement.

 

7.3          Indemnification
by Triangle Holdings. Subject to the terms of this Article VII, from and after the Closing, Triangle Holdings shall
indemnify and hold harmless FREIF and its Affiliates and the respective officers, directors, employees, partners, members, equity
holders, and agents and investment advisors of the foregoing (collectively, the “FREIF Indemnitees”)
and the Caliber Indemnitees, to the fullest extent permitted by Law, from and against any Losses incurred, arising out of or relating
to:

 

(a)          the
failure of any of the representations or warranties of Triangle Holdings contained in this Agreement to be true and correct as
of the date of this Agreement; and

 

(b)          any
breach of any of the covenants of Triangle Holdings in this Agreement.

 

    	13

    	 

    

 

7.4           Limitations
and Other Indemnity Claim Matters. Notwithstanding anything to the contrary in this Article VII or elsewhere in
this Agreement, the following terms shall apply to any claim following Closing arising out of Section 7.2 or 7.3:

 

(a)          Caps.

 

(i)          Except
with respect to a claim for Fraud, FREIF’s aggregate liability under Section 7.2(a) shall not exceed $10,000,000;

 

(ii)         Except
with respect to a claim for Fraud, Triangle Holding’s aggregate liability under Section 7.3(a) shall not exceed $10,000,000;

 

(b)          Survival;
Claims Period. The representations and warranties of the Parties under this Agreement shall survive the execution and delivery
of this Agreement and shall continue in full force and effect indefinitely. The covenants or agreements of the Parties contained
in this Agreement shall survive until fully discharged or, if not capable of being discharged, until fully cured.

 

(c)          Calculation
of Losses. In calculating amounts payable to a Caliber Indemnitee, a Triangle Indemnitee or a FREIF Indemnitee (in either case,
an “Indemnitee”), the amount of any indemnified Losses shall be computed net of (i) prior actual
recoveries by the Indemnitee under any insurance policy with respect to such Losses and (ii) any prior actual recovery by
the Indemnitee from any Person (including an Indemnifying Party hereunder) with respect to such Losses.

 

(d)          Waiver
of Certain Damages. Notwithstanding any other provision of this Agreement, in no event shall any Party be liable for punitive,
special, incidental, indirect, lost profits, diminution in value, consequential damages of any kind or nature, regardless of the
form of action through which such damages are sought, except for any such damages recovered by any third party against an Indemnitee
in respect of which such Indemnitee would otherwise be entitled to indemnification pursuant to the terms hereof.

 

(e)          No
Duplication. In no event shall any Party or Indemnitee be entitled to recover any Losses under one Section or provision of
this Agreement to the extent such Party or Indemnitee has already recovered the full amount of such Losses pursuant to another
Section or provision of this Agreement.

 

(f)          Sole
and Exclusive Remedy. Except for a claim of Fraud or a knowing and intentional breach of any covenant or agreement contained
in this Agreement, the remedies provided in Sections 6.3 and 6.4 and this Article VII shall be the sole
and exclusive legal remedies of the Parties, from and after the Closing, with respect to this Agreement.

 

    	14

    	 

    

 

7.5           Indemnification
Procedures.

 

(a)          Each
Indemnitee agrees that promptly after it becomes aware of facts giving rise to a claim by it for indemnification pursuant to this
Article VII, such Indemnitee will assert its claim for indemnification under this Article VII (each, a “Claim”)
by providing a written notice (a “Claim Notice”) to the indemnifying party (“Indemnifying
Party”) allegedly required to provide indemnification protection under this Article VII specifying, in reasonable
detail, the nature and basis for such Claim (e.g., the underlying representation, warranty or covenant alleged to have been breached).
Notwithstanding the foregoing, an Indemnitee’s failure to send or delay in sending a Claim Notice will not relieve the Indemnifying
Party from liability hereunder with respect to such Claim except to the extent the Indemnifying Party is prejudiced by such failure
or delay.

 

(b)          In
the event of the assertion of any third party Claim for which, by the terms hereof, an Indemnifying Party is obligated to indemnify
an Indemnitee and in respect of which the Indemnifying Party has agreed in writing to indemnify the Indemnitee for all of such
Indemnitee’s Losses (subject to any applicable limitations in Section 7.4), the Indemnifying Party will have
the right, at such Indemnifying Party’s expense, to assume the defense of same including the appointment and selection of
counsel on behalf of the Indemnitee so long as such counsel is reasonably acceptable to the Indemnitee. If the Indemnifying Party
elects to assume the defense of any such third party Claim, it shall within thirty (30) days notify the Indemnitee in writing of
its intent to do so. Subject to Section 7.5(c), the Indemnifying Party will have the right to settle or compromise
or take any corrective or remedial action with respect to any such Claim by all appropriate proceedings, which proceedings will
be diligently prosecuted by the Indemnifying Party to a final conclusion or settled at the discretion of the Indemnifying Party.
The Indemnitee will be entitled, at its own cost, to participate with the Indemnifying Party in the defense of any such Claim,
unless separate representation of the Indemnitee by counsel is reasonably necessary to avoid a conflict of interest, in which case
such representation shall be at the expense of the Indemnifying Party. If the Indemnifying Party assumes the defense of any such
third-party Claim but fails to diligently prosecute such Claim, or if the Indemnifying Party does not assume the defense of any
such Claim, the Indemnitee may assume control of such defense and in the event the Claim is determined to be a matter for which
the Indemnifying Party is required to provide indemnification under the terms of this Article VII, the Indemnifying Party
will bear the reasonable costs and expenses of such defense (including fees and expenses of counsel).

 

(c)          Notwithstanding
anything to the contrary in this Agreement, without the Indemnitee’s prior written consent, which shall not be unreasonably
withheld, conditioned or delayed, the Indemnifying Party will not be permitted to enter into any settlement or compromise, take
any corrective or remedial action or enter into an agreed judgment or consent decree, in each case, that (i) does not include
as an unconditional term thereof the delivery by the claimant or plaintiff to the Indemnitee of a binding, irrevocable, written
release of the Indemnitee from all Liability, (ii) provides for any admission of Liability on the part of the Indemnitee,
(iii) requires an admission of guilt or wrongdoing on the part of the Indemnitee, (iv) imposes any continuing obligation
on or requires any payment from the Indemnitee or (v) binds the Caliber Entities or any of their respective subsidiaries or
any Indemnitee with respect to a Tax after the Closing.

 

    	15

    	 

    

 

(d)          Notwithstanding
anything to the contrary in this Agreement, without the Indemnifying Party’s prior written consent,
which shall not be unreasonably withheld, conditioned or delayed, an Indemnitee will not be permitted to enter into any
settlement or compromise, take any corrective or remedial action or enter into an agreed judgment or consent decree, including
in cases where the Indemnittee has assumed control of the defense.

 

7.6          No
Reliance.

 

(a)          EXCEPT
FOR THE REPRESENTATIONS AND WARRANTIES MADE IN THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS OR IN ANY CERTIFICATE OR SIMILAR
INSTRUMENT DELIVERED IN CONNECTION HEREWITH OR THEREWITH, NONE OF TRIANGLE HOLDINGS, THE CALIBER ENTITIES, FREIF OR ANY OTHER PERSON
MAKES ANY OTHER EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY WITH RESPECT TO SUCH PARTIES OR THE TRANSACTIONS CONTEMPLATED BY
THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS, AND EACH PARTY DISCLAIMS ANY OTHER REPRESENTATIONS OR WARRANTIES, WHETHER MADE
BY SUCH PARTIES OR ANY OF THEIR AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR REPRESENTATIVES (INCLUDING WITH RESPECT TO
THE DISTRIBUTION OF, OR ANY SUCH PERSON’S RELIANCE ON, ANY INFORMATION, DISCLOSURE OR OTHER DOCUMENT OR OTHER MATERIAL MADE
AVAILABLE IN ANY DATA ROOM, MANAGEMENT PRESENTATION OR IN ANY OTHER FORM IN EXPECTATION OF, OR IN CONNECTION WITH, THE TRANSACTIONS
CONTEMPLATED HEREBY). EXCEPT FOR SUCH REPRESENTATIONS AND WARRANTIES, EACH PARTY HEREBY DISCLAIMS ALL LIABILITY AND RESPONSIBILITY
FOR ANY REPRESENTATION, WARRANTY, PROJECTION, FORECAST, STATEMENT OR INFORMATION MADE, COMMUNICATED OR FURNISHED (ORALLY OR IN
WRITING) TO ANY OTHER PARTY OR ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR REPRESENTATIVES (INCLUDING ANY OPINION,
INFORMATION, PROJECTION OR ADVICE THAT MAY HAVE BEEN OR MAY BE PROVIDED TO ANY PARTY OR ANY DIRECTOR, OFFICER, EMPLOYEE, AGENT,
CONSULTANT OR REPRESENTATIVE OF SUCH PARTY OR ANY OF ITS AFFILIATES).

 

(b)          No
Party hereto nor any Affiliate of a Party hereto shall assert or threaten, and each Party hereto hereby waives, and shall cause
such Affiliates to waive, any claim or other method of recovery, in contract, in tort or under applicable Law, against any Person
that is not a Party hereto (or a successor to a Party hereto) relating to this Agreement. Without limiting the foregoing, and notwithstanding
any other provision of this Agreement to the contrary, this Agreement may be enforced only against the named parties hereto. All
claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement, or the
negotiation, execution or performance of this Agreement, may be made only against the entities that are expressly identified as
parties hereto; and no past, present or future Affiliate of any party hereto, or any director, manager, officer, employee, incorporator,
member, partner, shareholder, Affiliate, agent, attorney or representative of any such party or Affiliate (including any Person
negotiating or executing this Agreement on behalf of a party hereto), unless party to this Agreement, shall have any Liability
or obligation with respect to this Agreement or with respect to any claim or cause of action (whether in contract or tort) that
may arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including a representation
or warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement).

 

    	16

    	 

    

 

Article VIII.

CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL

 

8.1           Consent
to Jurisdiction and Service of Process; Appointment of Agent for Service of Process. EACH PARTY TO THIS AGREEMENT HEREBY CONSENTS
TO THE EXCLUSIVE JURISDICTION OF ANY UNITED STATES DISTRICT COURT LOCATED IN WILMINGTON, DELAWARE OR THE DELAWARE CHANCERY COURT
LOCATED IN WILMINGTON, DELAWARE AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER SUCH ACTIONS OR PROCEEDINGS ARE BASED IN STATUTE, TORT, CONTRACT OR OTHERWISE),
SHALL BE LITIGATED IN SUCH COURTS. EACH PARTY (a) CONSENTS TO SUBMIT ITSELF TO THE PERSONAL JURISDICTION OF SUCH COURTS FOR
SUCH ACTIONS OR PROCEEDINGS, (b) AGREES THAT IT WILL NOT ATTEMPT TO DENY OR DEFEAT SUCH PERSONAL JURISDICTION BY MOTION OR
OTHER REQUEST FOR LEAVE FROM ANY SUCH COURT, AND (c) AGREES THAT IT WILL NOT BRING ANY SUCH ACTION OR PROCEEDING IN ANY COURT
OTHER THAN SUCH COURTS. EACH PARTY ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE
EXCLUSIVE AND IRREVOCABLE JURISDICTION AND VENUE OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS, AND IRREVOCABLY
AGREES TO BE BOUND BY ANY NON-APPEALABLE JUDGMENT RENDERED THEREBY IN CONNECTION WITH SUCH ACTIONS OR PROCEEDINGS. A COPY OF ANY
SERVICE OF PROCESS SERVED UPON THE PARTIES SHALL BE MAILED BY REGISTERED MAIL TO THE RESPECTIVE PARTY EXCEPT THAT, UNLESS OTHERWISE
PROVIDED BY APPLICABLE LAW, ANY FAILURE TO MAIL SUCH COPY SHALL NOT AFFECT THE VALIDITY OF SERVICE OF PROCESS. IF ANY AGENT APPOINTED
BY A PARTY REFUSES TO ACCEPT SERVICE, EACH PARTY AGREES THAT SERVICE UPON THE APPROPRIATE PARTY BY REGISTERED MAIL SHALL CONSTITUTE
SUFFICIENT SERVICE. NOTHING HEREIN SHALL AFFECT THE RIGHT OF A PARTY TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

 

    	17

    	 

    

 

8.2           Waiver
of Jury Trial. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES TO THIS AGREEMENT HEREBY WAIVES ITS RESPECTIVE
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM
RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT AND THE RELATIONSHIP THAT IS BEING ESTABLISHED. EACH PARTY ALSO WAIVES ANY BOND
OR SURETY OR SECURITY UPON SUCH BOND WHICH MIGHT, BUT FOR THIS WAIVER, BE REQUIRED OF ANY OF THE OTHER PARTIES. THE SCOPE OF THIS
WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT
MATTER OF THIS AGREEMENT, INCLUDING WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON
LAW AND STATUTORY CLAIMS. EACH PARTY ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP,
THAT EACH HAS ALREADY RELIED ON THE WAIVER IN ENTERING INTO THIS AGREEMENT AND THAT EACH WILL CONTINUE TO RELY ON THE WAIVER IN
THEIR RELATED FUTURE DEALINGS. EACH PARTY FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL,
AND THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS
IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE TRANSACTION CONTEMPLATED
HEREBY. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

 

Article IX.

MISCELLANEOUS PROVISIONS

 

9.1           Amendment
and Modification. This Agreement may be amended, modified or supplemented only by written agreement of the Parties hereto.

 

9.2           Waiver
of Compliance; Consents. Except as otherwise provided in this Agreement, any failure of any of the Parties to comply with any
obligation, covenant, agreement or condition herein may be waived by the Party entitled to the benefits thereof only by a written
instrument signed by the Party granting such waiver, but such waiver or failure to insist upon strict compliance with such obligation,
covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure.

 

9.3           Notices.
All notices and other communications hereunder shall be in writing and shall be deemed given if delivered personally or by facsimile
transmission or mailed by a nationally recognized overnight courier or registered or certified mail (return receipt requested),
postage prepaid, to the Parties at the following addresses (or at such other address for a Party as shall be specified by like
notice, provided that notices of a change of address shall be effective only upon receipt thereof):

 

If to Triangle Holdings to:

 

Triangle Caliber Holdings, LLC

1200 17th Street, Suite 2600

Denver, CO 80202

Attention: Chief Executive Officer

Fax: (303) 260-5080 

 

    	18

    	 

    

 

With a copy (which shall not constitute notice) to:

 

Vinson & Elkins LLP

1001 Fannin Street, Suite 2500

Houston, TX 77002

Attention: W. Creighton Smith

If to FREIF to:

 

FREIF Caliber Holdings LLC

c/o First Reserve Corporation

One Lafayette Place

Greenwich, CT 06830

Attention: General Counsel 

Fax: (203) 661-6729

 

With a copy (which shall not constitute notice) to:

 

Andrews Kurth LLP

1350 I Street NW

Suite 1100

Washington, DC 20005

Attention: William J. Cooper

 

If to any of the Caliber Entities to:

 

Caliber Midstream GP LLC

c/o Triangle Caliber Holdings, LLC

1200 17th Street, Suite 2600

Denver, CO 80202

Attention: President

Fax: (303) 260-5080

 

With a copy to (which shall not constitute
notice):

 

FREIF, at the addresses set forth in this Section
9.3.

9.4          Assignment.
This Agreement shall be binding upon and inure to the benefit of the Parties and their successors and permitted assigns. The Caliber
Entities may not assign this Agreement or any rights or obligations hereunder without the prior written consent of FREIF and of
Triangle Holdings. FREIF and Triangle Holdings may not assign this Agreement or any rights or obligations hereunder without the
prior written consent of each other (other than an assignment to an Affiliate; provided that no such assignment shall relieve
the assigning Party of its obligations hereunder).

 

    	19

    	 

    

 

9.5           Governing
Law. This Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware without regard
to principles of conflicts of laws.

 

9.6           Facsimiles;
Electronic Transmission, Counterparts. This Agreement may be executed by facsimile or other electronic transmission (including
scanned documents delivered by email) signatures by any Party and such signature shall be deemed binding for all purposes hereof,
without delivery of an original signature being thereafter required. This Agreement may be executed in one or more counterparts,
each of which, when executed, shall be deemed to be an original and all of which together shall constitute one and the same document.

 

9.7           Entire
Agreement. This Agreement, together with the Transaction Documents, constitute the entire agreement among the Parties with
respect to the subject matter hereof and supersedes all prior contracts or agreements with respect to the subject matter hereof
and the matters addressed or governed hereby or in the Transaction Documents, whether oral or written. Without limiting the foregoing,
each of the Parties acknowledges and agrees that (i) this Agreement is being executed and delivered in connection with each
of the other Transaction Documents and the transactions contemplated hereby and thereby, (ii) the performance of this Agreement
and the other Transaction Documents and expected benefits herefrom and therefrom are a material inducement to the willingness of
the Parties to enter into and perform this Agreement and the other Transaction Documents and the transactions described herein
and therein, (iii) the Parties would not have been willing to enter into this Agreement in the absence of the entrance into,
performance of, and the economic interdependence of, the other Transaction Documents, (iv) the execution and delivery of this
Agreement and the other Transaction Documents and the rights and obligations of the parties hereto and thereto are interrelated
and part of an integrated transaction being effected pursuant to the terms of this Agreement and the other Transaction Documents,
(v) the transactions contemplated by this Agreement and the other Transaction Documents are necessary elements of the same
and integrated transaction, (vi) the transactions contemplated by this Agreement and the other Transaction Documents are economically
interdependent and (vii) such Party will cause any of its successors or permitted assigns to expressly acknowledge and agree
to this Section 9.7.

 

9.8           Severability.
Whenever possible, each provision or portion of any provision of this Agreement will be interpreted in such manner as to be effective
and valid under applicable Law but if any provision or portion of any provision of this Agreement is held to be invalid, illegal
or unenforceable in any respect under any applicable Law or rule in any jurisdiction, such invalidity, illegality or unenforceability
will not affect any other provision or portion of any provision in such jurisdiction, and this Agreement will be reformed, construed
and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had never
been contained herein.

 

9.9           Third
Party Beneficiaries. This Agreement shall be binding upon and inure solely to the benefit of the Parties hereto and their respective
successors and assigns. None of the provisions of this Agreement shall be for the benefit of or enforceable by any third party,
including any creditor of any Party or any of their Affiliates, except for the Indemnitees. No such third party shall obtain any
right under any provision of this Agreement or shall by reasons of any such provision make any claim in respect of any liability
(or otherwise) against any other Party hereto.

 

    	20

    	 

    

 

9.10         Confidentiality.
The Parties agree that the Transaction Documents, their negotiations in connection therewith and all information obtained by or
provided to any of them in connection with the matters contemplated herein will be maintained as confidential, except as provided
in any Transaction Document or as may be required by Laws.

 

9.11         Time
of Essence. Time is of the essence in this Agreement.

 

[Signature pages follow]

  

    	21

    	 

    

 

IN WITNESS WHEREOF,
the undersigned have caused this Agreement to be signed by their respective duly authorized officers as of the date first above
written.

 

	 	TRIANGLE CALIBER HOLDINGS, LLC
	 	 	 
	 	By:	/s/ Jonathan Samuels
	 	Name:	Jonathan Samuels
	 	Title:	President
	 	 	 
	 	CALIBER MIDSTREAM GP LLC
	 	 	 
	 	By:	/s/ Jonathan Samuels
	 	Name:	Jonathan Samuels
	 	Title:	President
	 	 	 
	 	CALIBER MIDSTREAM PARTNERS, L.P.
	 	 	 
	 	By:	Caliber Midstream GP LLC, its general partner
	 	 	 
	 	By:	/s/ Jonathan Samuels
	 	Name:	Jonathan Samuels
	 	Title:	President
	 	 	 
	 	FREIF CALIBER HOLDINGS LLC
	 	 	 
	 	By:	/s/ Mark Florian
	 	Name:	Mark Florian
	 	Title:	Authorized Officer

 

Signature Page to

Contribution Agreement

  

    	 

    	 

    

 

EXHIBIT
A

 

DEFINITIONS; INTERPRETATION

 

1.1           Definitions.
As used in this Agreement, the following terms have the meanings specified or referred to in this Exhibit A:

 

“Additional
FREIF Cash Contributions” is defined in Section 2.2(b).

 

“Additional
Triangle Cash Contributions” is defined in Section 2.2(b).

 

“Affiliate”
means a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common
control with, a specified Person. A Person shall be deemed to control another Person if such first Person possesses, directly or
indirectly, the power to direct, or cause the direction of, the management and policies of such other Person, whether through the
ownership of voting securities, by Contract or otherwise.

 

“Agreement”
is defined in the preamble to this Agreement.

 

“Business
Day” means any day other than a Saturday, a Sunday or a day on which banks in Denver, Colorado or New York, New York
are authorized or required by Law to be closed.

 

“Caliber
Entities” is defined in the recitals.

 

“Caliber
GP” is defined in the preamble.

 

“Caliber
Indemnitees” is defined in Section 7.2.

 

“Caliber
Midstream” is defined in the recitals.

 

“Caliber
Partners” is defined in the preamble.

 

“Caliber
Sub” is defined in the recitals.

 

“Charter
Documents” means, with respect to any Person, the certificate of incorporation or formation, articles of incorporation
or association and the by-laws, limited liability company agreement or limited partnership agreement or other agreement or agreements
that establish the legal personality of such Person, in each case as amended to date.

 

“Claim”
is defined in Section 7.5(a).

 

“Claim Notice”
is defined in Section 7.5(a).

 

“Class A
Unit” is defined in the Partnership Agreement.

 

“Class A
Trigger Unit” is defined in the Partnership Agreement.

 

    	A-1

    	 

    

 

“Closing”
is defined in Section 3.1.

 

“Closing
Date” is defined in Section 3.1.

 

“Contract”
shall mean any agreement, lease, license, note, evidence of Indebtedness, mortgage, security agreement, understanding, instrument
or other binding arrangement evidenced by a written document.

 

“Conveyed
Assets” is defined in Section 2.2(a).

 

“Delaware
LLC Act” means the Delaware Limited Liability Company Act, as amended from time to time.

 

“Delaware
LP Act” means the Delaware Revised Uniform Limited Partnership Act, as amended from time to time.

 

“Equity Interests”
means any (i) corporate stock, shares, partnership interests, limited liability company interests, membership interests or
other equity interests or units (whether general or limited), (ii) any other interest or participation that confers on a Person
the right to receive a share of the profits and losses of, or distribution of assets of, the issuing entity, or the right to vote
on or direct the management or affairs of the issuing entity, or (iii) subscriptions, calls, warrants, options or commitments
of any kind or character relating to, exercisable or exchangeable for, or convertible into, or entitling any Person to purchase
or otherwise acquire, any of the foregoing.

 

“Fraud”
means common law fraud or a knowing and intentional misrepresentation or omission of a material fact.

 

“FREIF”
is defined in the preamble.

 

“FREIF Closing
Cash Contribution Amount” is defined in Section 2.2(a).

 

“FREIF Indemnitees”
is defined in Section 7.3.

 

“GAAP”
means U.S. generally accepted accounting principles.

 

“Governmental
Authority” means any executive, legislative, judicial, regulatory or administrative agency, body, commission, department,
board, court, tribunal, arbitrating body or authority of the United States or any foreign country, or any state, local or other
governmental subdivision thereof.

 

“GP LLC Agreement”
is defined in Section 3.2(a).

 

    	A-2

    	 

    

 

“Indebtedness”
means, with respect to any specified Person at any date, without duplication, (a) all indebtedness of such Person for borrowed
money, (b) all obligations of such Person for a deferred purchase price (other than trade payables incurred in the ordinary course
of such Person’s business, consistent with past practice), (c) all obligations of such Person evidenced by notes, bonds,
debentures or other similar instruments, (d) all obligations of such Person under capital leases, (e) all obligations of such Person,
contingent or otherwise, as an account party or applicant under or in respect of acceptances, letters of credit, surety bonds or
similar arrangements, whether or not drawn, (f) all obligations of such Person created or arising under any conditional sale or
title retention agreement, (g) the liquidation value or redemption price, as the case may be, of all preferred or redeemable stock
of such Person, (h) all net obligations of such Person payable under any rate, currency, commodity or other swap, option or derivative
agreement, (i) all obligations secured by (or for which the holder of such obligation has an existing right, contingent or otherwise,
to be secured by) any Lien on property (other than Permitted Liens) owned by such Person, whether or not such Person has assumed
or become liable for the payment of such obligation and (j) all obligations of others guaranteed by such Person.

 

“Indemnifying
Party” is defined in Section 7.5(a).

 

“Indemnitees”
is defined in Section 7.4(c).

 

“Laws”
means all laws, common laws, Orders, statutes, codes, regulations, ordinances, rules, policies or other requirements with similar
effect of any Governmental Authority or any binding provisions or interpretations of the foregoing.

 

“Liability”
means, collectively, any Indebtedness, commitment, guaranty, endorsement, claim, loss, damage, deficiency, cost, expense, obligation,
contingency, responsibility or other liability, in each case, whether fixed or unfixed, asserted or unasserted, due or to become
due, accrued or unaccrued, or absolute, contingent or otherwise.

 

“Lien”
means any claim, lien, pledge, restriction, option, charge, right of first refusal, preemptive right, easement, security interest,
deed of trust, mortgage, right-of-way, encroachment, building or use restriction, encumbrance or other right of third parties,
whether voluntarily incurred by a Party or arising by operation of Law, and includes, without limitation, any agreement to give
any of the foregoing in the future, and any contingent or conditional sale agreement or other title retention agreement or lease
in the nature thereof.

 

“LLC Unit”
shall mean a “Unit,” as defined in the GP LLC Agreement.

 

“Losses”
is defined in Section 7.2.

 

“Midstream
Services Agreement” is defined in Section 3.2(a).

 

“Midstream
Services Agreement (Crude Oil)” is defined in Section 3.2(a).

 

“Orders”
means any judgments, orders, writs, injunctions, decisions, rulings, decrees or awards of any Governmental Authority.

 

“Organizational
Interests” is defined in the recitals.

 

“Organizational
Limited Partners” is defined in the preamble of this Agreement.

 

“Partnership
Agreement” is defined in Section 3.2(a).

 

    	A-3

    	 

    

 

“Party”
and “Parties” are defined in the preamble of this Agreement.

 

“Permitted
Liens” means (i) statutory liens for current Taxes applicable to the assets of the Caliber Entities that are not
yet due and payable or assessments not yet delinquent or the amount or validity of which is being contested in good faith and for
which adequate reserves have been established in accordance with GAAP; (ii) mechanics’, carriers’, workers’,
repairers’, landlords’, and other similar liens arising or incurred in the ordinary course of business of the Caliber
Entities relating to obligations as to which there is no default on the part of the Caliber Entities or the amount or validity
of which is being contested in good faith and for which adequate reserves have been established in accordance with GAAP; (iii)
Liens to secure the performance of statutory obligations, surety or appeal bonds, performance bonds or other obligations of a like
nature incurred in the ordinary course of business; (iv) Liens affecting the use of real property that were not incurred in connection
with Indebtedness and that do not individually or in the aggregate materially adversely affect the value of said properties or
materially impair their use in the ordinary course; (v) Liens on pipelines or pipeline facilities that arise by operation of law;
and (vi) any Liens that (A) do not secure Indebtedness within the meaning of clauses (a), (c), (d), (e), (g), (h) or (i) of the
definition thereof and (B) together with all other Liens, do not materially detract from the value of the Caliber Entities or materially
interfere with the use of the Conveyed Assets or the Proposed Business.

 

“Person”
means any individual, partnership, joint venture, corporation, limited liability company, limited partnership, trust, unincorporated
organization or Governmental Authority or any department or agency thereof.

 

“Pre-Closing
Cash Contribution Amount” is defined in Section 2.2(b).

 

“Proposed
Business” means the design and construction of crude oil and natural gas gathering, fresh water delivery and salt
water disposal pipelines, a natural gas processing facility and related assets in McKenzie County, North Dakota and the ownership
and operation of the business to be conducted in the ordinary course using such assets.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Services
Agreement” is defined in Section 3.2(a).

 

“Tax”
means (i) any tax, charge, fee, levy, penalty or other assessment imposed by any Taxing Authority, including any excise, property,
abandoned or unclaimed property, income, sales, transfer, margin, franchise, payroll, withholding, gross receipts, social security
or other tax, including any interest, penalties or additions attributable thereto and (ii) any liability for amounts described
under clause (i) above under Treasury Regulation Section 1.1502-6 (or any similar provision of federal, state, local or foreign
Law), as a result of transferee or successor liability, by Contract, by Law or otherwise.

 

“Tax Return”
means any return, report, information return, declaration, rendition, claim for refund or other document (including any related
or supporting information or schedules) supplied or required to be supplied to any Taxing Authority with respect to Taxes and including
any supplement or amendment thereof.

 

    	A-4

    	 

    

 

“Taxing Authority”
means, with respect to any Tax, the Governmental Authority or political subdivision thereof that imposes or administers such Tax,
and the agency (if any) charged with the collection or administration of such Tax for such entity or subdivision.

 

“Transaction
Documents” is defined in Section 3.5.

 

“Transactions”
is defined in Section 3.5.

 

“Transfer
Taxes” means all sales (including bulk sales), use, documentary, stamp, registration, transfer, conveyance, excise,
recording, license, stock transfer stamps and other similar Taxes.

 

“Triangle
Closing Cash Contribution Amount” is defined in Section 2.2(a).

 

“Triangle
Holdings” is defined in the preamble.

 

“Triangle
Indemnitees” is defined in Section 7.2.

 

“Triangle
Petroleum” is defined in the recitals.

 

“Warrant
Agreement” is defined in Section 3.2(a).

 

1.2           Interpretations.
Unless expressly provided for elsewhere in this Agreement, this Agreement shall be interpreted in accordance with the following
provisions:

 

(1)         no
consideration may be given to the captions of the articles, sections or subsections, or to the Table of Contents, all of which
are inserted for convenience in locating the provisions of this Agreement and not as an aid in its construction;

 

(2)         no
consideration may be given to the fact or presumption that one Party had a greater or lesser hand in drafting this Agreement;

 

(3)         examples
are not to be construed to limit, expressly or by implication, the matter they illustrate;

 

(4)         the
word “includes” and its derivatives means “includes, but is not limited to,” and corresponding derivative
expressions;

 

(5)         a
defined term has its defined meaning throughout this Agreement and each exhibit and schedule to this Agreement, regardless of whether
it appears before or after the place where it is defined;

 

(6)         the
meanings of the defined terms are applicable to both the singular and plural forms thereof and correlative forms of defined terms
shall have corresponding meanings;

 

(7)         all
references to prices, values or monetary amounts refer to United States dollars;

 

    	A-5

    	 

    

 

(8)         all
references to articles, sections, subsections, paragraphs, clauses, exhibits or schedules refer to articles, sections, subsections,
paragraphs and clauses of this Agreement, and to exhibits or schedules attached to this Agreement, unless expressly provided otherwise;

 

(9)         each
exhibit to this Agreement is a part of this Agreement and references to the term “Agreement” are deemed to include
each such exhibit to this Agreement except to the extent that the context indicates otherwise, but if there is any conflict or
inconsistency between the main body of this Agreement and any exhibit, the provisions of the main body of this Agreement will prevail;

 

(10)        the
words “this Agreement,” “herein,” “hereby,” “hereunder,” and words of similar import
refer to this Agreement as a whole and not to any particular article, section, subsection or other subdivision, unless expressly
so limited;

 

(11)        the
word “or” is disjunctive but not necessarily exclusive, and has the inclusive meaning represented by the phrase “and/or”;

 

(12)        all
references to agreements or Laws are deemed to refer to such agreements or Laws as amended or as in effect at the applicable time;
and

 

(13)        all
references to a Person include such Person’s successors and permitted assigns.

 

    	A-6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]