Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 3 dated as of February 12, 2013 (this “Amendment”), to the Senior Secured
Super Priority Priming Debtor in Possession Credit Agreement dated as of August 29, 2012 (as amended, supplemented or otherwise modified through the date hereof, the “Credit Agreement”), among ATP Oil & Gas
Corporation, as debtor and debtor-in-possession (the “Borrower”), the Lenders from time to time party thereto and Credit Suisse AG, as administrative agent (in such capacity, the “Administrative
Agent”) and collateral agent. 
 WHEREAS, pursuant to the Credit Agreement, the Lenders have extended credit to the
Borrower; 
 WHEREAS, the Borrower has informed the Lenders that certain Events of Default as described on Schedule 1
attached hereto are currently existing (collectively, the “Specified Defaults”) and has requested that the Lenders agree to waive such Specified Defaults and amend certain provisions of the Credit Agreement related thereto and amend
certain other provisions of the Credit Agreement as set forth herein; 
 WHEREAS, the undersigned Lenders are willing to agree
to such waiver and to so amend the Credit Agreement on the terms and subject to the conditions set forth herein; and 
 WHEREAS,
capitalized terms used but not defined herein shall have the meanings assigned to them in the Credit Agreement; 
 NOW,
THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows: 

SECTION 1. Waiver. Subject to the satisfaction of the conditions set forth below, the undersigned Lenders hereby
permanently waive, as of the Third Amendment Closing Date (as defined below), the Specified Defaults. 
 SECTION 2.
Amendments to Credit Agreement. 
 (a) The following recitals are hereby added to the Recitals of the Credit
Agreement after the sixth recital contained therein: 
 “The Lenders’ Commitments in respect of the
Final DIP Budget First Tranche Amount terminated on January 3, 2013 as a result of the Borrower’s failure to achieve commercial operation of the MC 942 S-Sand well by January 2, 2013. 

In lieu of the Final DIP Budget First Tranche Amount, and notwithstanding the definition of “Final DIP Budget
Availability Date” and Sections 2.01(a)(iii) and (v), the Lenders agreed to advance to the Borrower on January 11, 2013 the Final DIP Budget Second Tranche Amount and the Additional NM Loans First Tranche Amount and on January 23,
2013 the Additional NM Loans Second Tranche Amount, subject to certain terms and conditions. 

 The Borrower has requested that the Lenders provide additional financing to
the Borrower consisting of one or more term loans, advanced to the Borrower pursuant to Sections 364(c) and (d) of the Bankruptcy Code, in an aggregate principal amount of up to $117,000,000 (the “Third Amendment NM Loan
Facility”), in order to, subject to the Budgets, pay the fees, costs and expenses incurred by the Borrower in the administration of the Bankruptcy Case, provide working capital for the Borrower and fund certain Capital Expenditures.”

 (b) The following defined terms are hereby added to Section 1.01 of the Credit Agreement in the proper alphabetical
order: 
 “ “BOEM Settlement Documents” means (a) the Settlement Agreement, effective
November 30, 2012, by and between the Borrower, the BOEM and the Bureau of Safety and Environmental Enforcement, (b) the several Decommissioning Trust Agreements, each dated effective as of November 15, 2012, by and among JPMorgan
Chase Bank, N.A., the Borrower and the BOEM and (c) the Decommissioning Trust Agreement, dated effective as of February 1, 2013, by and among JPMorgan Chase Bank, N.A., the Borrower and the BOEM. 

“Commingling Permit” means that so-called “commingling permit” relating to the MC 942 A3 B Sand
and the MC 942 A3 C Sand wells. 
 “Deferral Arrangements” has the meaning set forth in
Section 8.23. 
 “Gomez Analysis” means an analysis of a potential shut in of the Gomez
Project wells, including cash flow, capital expenditures, plugging and abandonment liabilities and such other items as may be requested by the Administrative Agent or the Required Lenders. 

“Lenders’ Consultant” means a consulting project engineering firm hired on behalf of the Lenders,
the identity and role of such firm to be determined in consultation with the CRO. 
 “Replacement
Financing Facility” has the meaning set forth in Section 8.23. 
 “Third
Amendment” means that certain Amendment No. 3 to the Agreement, dated as of the Third Amendment Closing Date. 
 “Third Amendment Closing Date” means February 12, 2013. 
 “Third Amendment Final Order” means the final order entered by the Bankruptcy Court approving the Third Amendment on a final basis, which order shall be in form and substance satisfactory
to the Administrative Agent and the Required Lenders. 

  
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 “Third Amendment NM Loan Facility” has the meaning set
forth in the recitals hereto. 
 “Third Amendment NM Loan Lenders” means any Lender who
(a) on or before noon (New York time) on February 12, 2013 (or such later time as determined in the Administrative Agent’s sole discretion) pursuant to the Third Amendment provides a Commitment for Third Amendment NM Loans or
(b) purchases from any other Lender a Commitment to make Third Amendment NM Loans committed to under the Third Amendment. 
 “Third Amendment NM Loans” has the meaning set forth in Section 2.01(a)(vi). 
 “Third Amendment NM Loans Fifth Tranche Amount” has the meaning set forth in Section 2.01(a)(vi). 

“Third Amendment NM Loans First Tranche Amount” has the meaning set forth in Section 2.01(a)(vi).

 “Third Amendment NM Loans Fourth Tranche Amount” has the meaning set forth in
Section 2.01(a)(vi). 
 “Third Amendment NM Loans Second Tranche Amount” has the meaning
set forth in Section 2.01(a)(vi). 
 “Third Amendment NM Loans Third Tranche Amount” has
the meaning set forth in Section 2.01(a)(vi). 
 “Third Amendment NM Loans Tranche Amount”
means the Third Amendment NM Loans First Tranche Amount, the Third Amendment NM Loans Second Tranche Amount, the Third Amendment NM Loans Third Tranche Amount, the Third Amendment NM Loans Fourth Tranche Amount, and the Third Amendment NM Loans
Fifth Tranche Amount.” 
 (c) The definition of “Additional Interest” set forth in Section 1.01 of the
Credit Agreement is hereby amended such that the definition as a whole reads: 
 “ “Additional
Interest” means, for any day, with respect to (a) all Loans, interest on such Loans at a rate of 0.50% per annum and (b) all Loans of Qualified Lenders, Third Amendment NM Loan Lenders and assignees thereof, interest on all
Loans of such Lenders (as such Loans may be assigned) at a rate of 2.00% per annum.” 

  
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 (d) The definition of “Permitted Investment” set forth in Section 1.01 of
the Credit Agreement is hereby amended by deleting clause (m) contained therein and replacing such clause (m) in its entirety as follows: 
 “(m) Investments in Foreign Subsidiaries for general and administrative expenses to the extent (i) such Investments are set forth in the DIP Budget and (ii) the CRO has provided evidence
reasonably satisfactory to the Required Lenders that such Investments materially improve the value and potential recovery associated with such Foreign Subsidiaries; provided, however, no such Investments shall be made with respect to
any Foreign Subsidiary from and after the date such Foreign Subsidiary files or petitions for, or has any action commenced against it with respect to, insolvency protection or other similar proceeding provided for under applicable law; and”

 (e) The definition of “Reserve Report” set forth in Section 1.01 of the Credit Agreement is hereby amended
such that the definition as a whole reads: 
 “ “Reserve Report” means
a report of the Approved Petroleum Engineers, in form and substance reasonably satisfactory to the Administrative Agent and the Required Lenders, setting forth, as of each December 31st or June 30th, the oil and gas reserves attributable to the Oil and Gas Properties of the Borrower, together with a projection of
the rate of production and the future net income, taxes, operating expenses and Capital Expenditures with respect thereto as of such date. Until superseded, the 10/1/12 rollforward of the 12/31/11 Reserve Report delivered by the Borrower to the
Agents and the Lenders prior to the Closing Date will be considered the Reserve Report. The Borrower shall not be required to file any Reserve Report with the SEC, or comply with the rules promulgated by the SEC or GAAP in preparing any Reserve
Report.” 
 (f) Section 2.01(a) of the Credit Agreement is hereby amended by (i) deleting the text
“and” at the end of clause (iv) contained therein, (ii) deleting the period at the end of clause (v) contained therein and substituting in lieu thereof the text “; and” and (iii) adding the following new
clause (vi) after such clause (v): 
 “(vi) (v) on the Third Amendment Closing Date in an amount equal
to $11,800,000 of the Third Amendment NM Loan Facility (the “Third Amendment NM Loans First Tranche Amount”), (w) commencing with the date the Third Amendment Final Order is entered, in an amount equal to $41,800,000 of the
Third Amendment NM Loan Facility (the “Third Amendment NM Loans Second Tranche Amount”), (x) commencing March 1, 2013, in an amount equal to $32,900,000 of the Third Amendment NM Loan Facility (the “Third Amendment
NM Loans Third Tranche Amount”), (y) commencing April 1, 2013, in an amount equal to $20,600,000 of the Third Amendment NM Loan Facility (the “Third Amendment NM Loans Fourth Tranche Amount”), and
(z) commencing May 1, 2013, in an amount equal to the remaining $9,900,000 of the Third Amendment NM Loan Facility (the “Third Amendment NM Loans Fifth Tranche Amount”) (such NM Loans referenced in clauses (v) through
(z) above being referred to herein as the “Third Amendment NM Loans”); provided, however, that the Administrative Agent and the Required Lenders shall have received a

  
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certificate from the CRO certifying that (A) the Borrower has determined that the making of such advances will preserve or enhance the value of its business, (B) in his reasonable
judgment, the Borrower has the ability to repay in full in cash such advances (including, without limitation, through a sale or refinancing in connection with a Plan of Reorganization), and (C) the Borrower is performing in accordance with its
business plan. The proceeds of such Third Amendment NM Loans shall be used solely to fund expenses set forth in the DIP Budget and/or the Clipper Project Budget. Notwithstanding anything in this clause (vi) to the contrary, (I) if the
Borrower obtains a Replacement Financing Facility and the Third Amendment NM Loan Facility is not fully drawn at such time, the aggregate undrawn amount of the Third Amendment NM Loan Facility automatically shall be reduced by 10/8.5 of the amount
of net cash proceeds of such Replacement Financing Facility and (II) if the Borrower enters into Deferral Arrangements the result of which is to defer payments set forth in the Budgets (such payments having not yet been made) for a duration of at
least three months and the Third Amendment NM Loan Facility is not fully drawn at such time, the aggregate undrawn amount of the Third Amendment NM Loan Facility automatically shall be reduced by 10/8.5 of the amount of such deferred cash payments.
Any such reduction of the Third Amendment NM Loan Facility shall be applied first to the Third Amendment NM Loans Fifth Tranche Amount, second to the Third Amendment NM Loans Fourth Tranche Amount, third to the Third Amendment
NM Loans Third Tranche Amount and fourth to the Third Amendment NM Loans Second Tranche Amount.” 
 (g)
Section 2.03(d) of the Credit Agreement is hereby amended such that the provision as a whole reads: 

“(d) Requests for Withdrawals. The Borrower may deliver to the Administrative Agent a Withdrawal Notice no
later than 12:00 noon (New York time) on Wednesday of each week or at such other time as may be agreed to by the Administrative Agent in its reasonable discretion. Upon the receipt of a Withdrawal Notice, the Administrative Agent shall transfer
Loans in an aggregate principal amount equal to the amount specified in such Withdrawal Notice to the account of the Borrower specified in such Withdrawal Notice to fund expenses of the following week in accordance with the DIP Budget and to fund
expenditures included in the Clipper Project Budget for the following week; provided that: (w) with respect to any withdrawal of proceeds of Third Amendment NM Loans, such withdrawal may only be made to the extent that (i) the
amount of Unrestricted Cash on Hand as of such date does not exceed the amount of Liquidity required under Section 8.19(b)(ii) and (ii) no funds are then available to the Borrower under a Replacement Financing Facility, (x) after
giving effect to each withdrawal, the aggregate Cash Collateral held by the Borrower will not exceed the amount necessary to fund all applicable expenditures for the following week, (y) immediately prior to making such withdrawal, no Event of
Default shall have occurred and be continuing at such time or would result from such withdrawal 

  
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and (z) funds withdrawn shall be used solely to pay expenses in accordance with the DIP Budget and the Clipper Project Budget within permitted variances. Each Withdrawal Notice shall contain
a certification by the Borrower that the withdrawal request pursuant thereto complies, and the application of the funds so withdrawn will comply, with the terms of this Agreement in all respects, and the Administrative Agent shall be entitled to
conclusively rely on such certification, absent manifest error.” 
 (h) Section 2.06(a) of the Credit Agreement is
hereby amended by (i) deleting the text “and” at the end of clause (vi) contained therein, (ii) deleting the period at the end of clause (vii) contained therein and substituting in lieu thereof a semi-colon, and
(iii) adding the following new clauses (viii) and (ix): 
 “(viii) the Third Amendment NM Loans
First Tranche Amount shall automatically terminate upon the making of the Third Amendment NM Loans in an amount equal to the Third Amendment NM Loans First Tranche Amount on the Third Amendment Closing Date; and 

(ix) each Third Amendment NM Loans Tranche Amount (other than the Third Amendment NM Loans First Tranche Amount) shall
automatically terminate upon the earlier of (A) May 31, 2013 or (B) the making of the Third Amendment NM Loans in an amount equal to the applicable Third Amendment NM Loans Tranche Amount.” 

(i) Section 3.04(a) of the Credit Agreement is hereby amended such that the provision as a whole reads: 

“(a) Optional Prepayments. Subject to prior written notice in accordance with Section 3.04(b), the
Borrower shall have the right at any time and from time to time to prepay the Loans in whole or in part, in a minimum aggregate amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof or if less than $5,000,000, the remaining
balance of such Loans; provided, however, that (i) all Third Amendment NM Loans shall be paid in full and all Commitments shall be terminated before any other NM Loans are prepaid and (ii) all other NM Loans shall be paid in
full before any Refinancing Loans or other Indebtedness is prepaid.” 
 (j) Section 3.04(c)(ii) of the
Credit Agreement is hereby amended by (i) deleting the amount “$30,000,000” contained therein and substituting in lieu thereof the amount “$15,000,000” and (ii) deleting the last sentence thereof in its entirety.

 (k) Section 3.04(c)(iii) of the Credit Agreement is hereby amended such that the provision as a whole reads: 

“(iii) Notwithstanding the foregoing, any Lender may elect, by written notice to the Administrative Agent at the time
and in the manner specified by the Administrative Agent (but in no event later than 5:00 p.m., New York City time, two Business Days prior to the date of prepayment), to decline all (but not less

  
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than all) of any prepayment of its Loans pursuant to paragraph (c)(i) or (ii) above or paragraph (c)(vi) below. Such declined amounts shall be applied in accordance with paragraph (c)(iv) to
the relevant Loans of the Lenders that do not make such election.” 
 (l) Section 3.04(c)(iv) of the Credit Agreement
is hereby amended such that the provision as a whole reads: 
 “(iv) Each prepayment of Loans, the
Prepetition Hedge Obligations (to the extent required under the MBL Agreement) and/or reduction of Commitments made under paragraph (c)(i) or (c)(vi) shall be applied first, to permanently reduce the undrawn Commitments in respect of the Third
Amendment NM Loan Facility, second, to the prepayment of the Third Amendment NM Loans, third, to the prepayment of all other NM Loans, and fourth, on a pro rata basis, to the prepayment of the Refinancing Loans and the Prepetition Hedge Obligations.
Each prepayment of Loans or Prepetition Hedge Obligations made under paragraph (c)(ii) shall be applied first, to the prepayment of all outstanding Third Amendment NM Loans, second, to permanently reduce the undrawn Commitments in respect of the
Third Amendment NM Loan Facility, third, to the prepayment of all other NM Loans, and fourth, on a pro rata basis, to the prepayment of the Refinancing Loans and the Prepetition Hedge Obligations (to the extent required under the MBL
Agreement).” 
 (m) Section 3.04(c) of the Credit Agreement is hereby further amended by adding the following new
clauses (vi) and (vii) at the end thereof: 
 “(vi) If the Borrower enters into a Replacement
Financing Facility or Deferral Arrangements for a duration of at least three months, the Borrower shall (A) with respect to a Replacement Financing Facility, on the date such proceeds become available to the Borrower, and (B) with respect
to Deferral Arrangements, on the date the applicable deferred payment would have been due, apply the proceeds of such Replacement Financing Facility or the amount of such deferred payment to prepay the Third Amendment NM Loans in an amount equal to
the net cash proceeds of such Replacement Financing Facility or the amount of such deferred payment minus the amount, if any, by which the Third Amendment NM Loan Facility was reduced as a result of the Borrower’s entering into such
Replacement Financing Facility or Deferral Arrangements pursuant to Section 2.01(a)(vi). The amount of Third Amendment NM Loans deemed to be prepaid by such prepayment shall equal, if the Deferral Arrangements or Replacement Financing Facility
are entered into within (x) sixty days from the Third Amendment Closing Date, the amount of such prepayment multiplied by 10/8.5 and (y) more than sixty days from the Third Amendment Closing Date, the amount of such prepayment.

 (vii) If the Third Amendment NM Loans are prepaid with proceeds of an Asset Disposition within sixty days from
the Third Amendment Closing Date, the amount of Third Amendment NM Loans deemed to be prepaid by such 

  
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prepayment shall equal the amount of such prepayment multiplied by 10/8.5. Additionally, if the Borrower makes an Asset Disposition the Net Available Cash from which is used to prepay the
aggregate outstanding amount of the Indebtedness in full (after giving effect to the adjustment in the original issue discount amount for the amount repaid as further described below) (A) within 120 days from the Third Amendment Closing Date,
the amount of Third Amendment NM Loans deemed to be prepaid by such prepayment shall equal the amount of such prepayment multiplied by 9/8.5 and (B) if more than 120 days from the Third Amendment Closing Date, the amount of such
prepayment.” 
 (n) Section 3.05(c) of the Credit Agreement is hereby amended such that the provision as a whole
reads: 
 “(c) OID. Each of the Borrower and each Lender agrees that on the Borrowing date of each
Loan other than the Refinancing Loans and the Third Amendment NM Loans, the Borrower shall receive proceeds of such Loans based on a purchase price of 98.00% of the principal amount thereof. Each of the Borrower and each Lender agrees that on the
Borrowing date of each Third Amendment NM Loan, the Borrower shall receive proceeds of such Loans based on a purchase price of 85.00% of the principal amount thereof (it being understood that if the Third Amendment Final Order is not entered, the
Third Amendment NM Loan First Tranche Amount shall be deemed to have been issued at a purchase price of 98.00% of the principal amount thereof). For the avoidance of doubt, on each such Borrowing date each Lender shall advance to the Borrower an
amount equal to 98.00% or 85.00%, as the case may be, of its ratable share of the applicable Loans, other than the Refinancing Loans, requested by the Borrower as of such date in exchange for the Borrower’s obligations to repay in full the face
amount of such Loans (subject to Sections 3.04(c)(vi) and (vii)), plus interest accrued thereon in accordance with the terms hereof.” 
 (o) Section 6.02 of the Credit Agreement is hereby amended by (i) deleting the text “and” at the end of clause (c) contained therein, (ii) deleting the period at the end of
clause (d) contained therein and substituting in lieu thereof the text “; and”, and (iii) adding the following new clause (e): 
 “(e) as of any Borrowing date with respect to any Third Amendment NM Loans Tranche Amount (other than the Third Amendment NM Loans First Tranche Amount), the Third Amendment Final Order shall be in
full force and effect and shall not have been reversed, modified or amended in any respect and the Borrower shall be in compliance in all respects with the Third Amendment Final Order. If the Third Amendment Final Order is the subject of a pending
appeal in any respect, none of the Third Amendment Final Order, the making of the Loans or the performance by any Credit Party of any of its obligations under any of the Loan Documents shall be the subject of a presently effective stay pending
appeal.” 

  
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 (p) Section 6.02 of the Credit Agreement is hereby further amended by adding the
following paragraph after the new clause (e): 
 “Notwithstanding the foregoing, if the Lenders’
Consultant reasonably determines that the projected timeline to complete the Clipper Project and other operational projects set forth in the DIP Budget will (A) take at least an additional two weeks or longer and/or (B) cost more (subject
to agreed variances), in either case than the Borrower had projected in the approved DIP Budget or Clipper Project Budget, the Administrative Agent shall promptly notify the CRO of such determination. If the CRO disputes such determination, he shall
so notify the Administrative Agent within three Business Days after the CRO’s receipt of notice of the Lenders’ Consultant’s determination, which notice shall be accompanied by (x) reasonable detail as to the basis for the
CRO’s disagreement with such determination and (y) a certification from the CRO that the projected timeline to complete such projects will not take more than an additional two weeks and will not cost more (subject to agreed variances), in
each case than the Borrower had projected in the approved applicable Budget. If the CRO fails to timely deliver such notice and certification and either (1) the Borrower fails to present a plan to the Required Lenders to remedy such loss or
increased costs within five Business Days of receipt by the CRO of notice from the Administrative Agent of the Lenders’ Consultant’s determination or (2) the Borrower presents a plan in such five Business Day period, but the Required
Lenders do not approve such plan (as such plan may be modified by agreement among the Borrower and the Required Lenders) within the following five Business Days, no further advances of Loans shall be available to the Borrower unless approved by the
Required Lenders in their sole discretion.” 
 (q) Section 7.21 of the Credit Agreement is hereby amended by adding
the following new clause (f) after clause (e) contained therein: 
 “(f) The Third Amendment NM
Loans shall be used solely in accordance with the DIP Budget and/or to fund Capital Expenditures set forth in the Clipper Project Budget, in each case inclusive of the variances permitted hereunder.” 

(r) Section 8.01(b) of the Credit Agreement is hereby amended by deleting the provision in its entirety and replacing it with the
following revised Section 8.01(b): 
 “(b) The Borrower will deliver to the Administrative Agent and
the Lenders, (i) within 95 days after the end of each fiscal year, its consolidated balance sheet and related statements of income, stockholders’ equity and cash flows showing the financial condition of the Borrower and its consolidated
subsidiaries as of the close of such fiscal year and the results of its operations and the operations of such subsidiaries during such year, together with comparative figures for the immediately preceding fiscal year, and (x) to the extent
requested by the Required Lenders on or prior to the end of such fiscal year (or, if requested by the Required Lenders at a later date, within 95 days after the date of such 

  
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request or such other reasonable later date as may be agreed by the Required Lenders and the Borrower), such financial statements shall be audited and shall be certified by its independent
certified public accountants (which must be one of the “big 4” accounting firms) as fairly presenting the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance
with GAAP except such financial statements will not be required to have adjustments required under GAAP related to periodic fair market value adjustments (including assessments of impairment) and deferred tax adjustments; provided,
however, prior to such accountants commencing their examination, the scope of such audit and resulting audit report shall be agreed upon by the Required Lenders, the Borrower, and such accountants and (y) if the Required Lenders do not
make such request referenced in clause (x) above on or prior to the end of such fiscal year, such financial statements shall be certified by one of the Borrower’s Financial Officers as fairly presenting the financial condition and results
of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP except such financial statements will not be required to have adjustments required under GAAP related to periodic fair market value
adjustments (including assessments of impairment) and deferred tax adjustments, and (ii) within 50 days after the end of each of the first three fiscal quarters of each fiscal year, its consolidated balance sheet and related statements of
income, stockholders’ equity and cash flows showing the financial condition of the Borrower and its consolidated subsidiaries as of the close of such fiscal quarter and the results of its operations and the operations of such subsidiaries
during such fiscal quarter and the then elapsed portion of the fiscal year, and comparative figures for the same periods in the immediately preceding fiscal year, all certified by one of its Financial Officers as fairly presenting the financial
condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP except such financial statements will not be required to have adjustments required under GAAP related to periodic
fair market value adjustments (including assessments of impairment) and deferred tax adjustments, financial statement notes and are subject to normal year-end audit adjustments.” 

(s) Section 8.01(c) of the Credit Agreement is hereby amended by deleting the provision in its entirety and replacing it with the
following revised Section 8.01(c): 
 “(c) So long as not contrary to the then current recommendations
of the American Institute of Certified Public Accountants, to the extent requested by the Required Lenders on or prior to the end of the applicable fiscal year (or, if requested by the Required Lenders at a later date, within 95 days after the date
of such request or such other reasonable later date as may be agreed by the Required Lenders and the Borrower), the annual financial statements delivered pursuant to paragraph (b) above shall be accompanied by a written report of the
Borrower’s independent certified public accountants (who shall be a firm of established national reputation) stating (A) that their audit examination has included a review of the terms of this Agreement and the Indebtedness hereunder as
they relate to accounting matters, and (B) whether, in connection with their audit examination, 

  
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any Default has come to their attention and if such a Default has come to their attention, specifying the nature and period of existence thereof; provided, however, that, without
any restriction as to the scope of the audit examination, such independent certified public accountants shall not be liable by reason of any failure to obtain knowledge of any such Default that would not be disclosed in the course of an audit
examination conducted in accordance with generally accepted auditing standards.” 
 (t) Section 8.04 of the Credit
Agreement is hereby amended by deleting the provision in its entirety and replacing it with the following revised Section 8.04: 
 “SECTION 8.04 Payment of Taxes, Claims and Other Obligations. The Borrower shall, subject to applicable order of the Bankruptcy Court, pay or discharge or cause to be paid or discharged,
before the same shall become delinquent, and in accordance with the DIP Budget: (i) all material Taxes, assessments and governmental charges (including withholding taxes and any penalties, interest and additions to taxes) levied or imposed on
or after the Petition Date upon it, any other Credit Party or any of its Restricted Subsidiaries or properties of it, any other Credit Party or any of its Restricted Subsidiaries, (ii) all material lawful claims arising on or after the Petition
Date for labor, materials and supplies that, if unpaid, might by law become a Lien upon the property of the Borrower, any Credit Party or any of the Restricted Subsidiaries, (iii) all obligations under the Borrower’s Production Payments
and Reserve Sales in accordance with their respective terms as in effect on the Petition Date and subject to (A) any order of the Bankruptcy Court with respect thereto and (B) any modification of such terms as contemplated by
Section 8.24 and (iv) all payments required to be made to the BOEM pursuant to the BOEM Settlement Documents; provided, however, that the Borrower shall not be required to pay or discharge or cause to be paid or discharged
any such Tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate negotiations or proceedings properly instituted and diligently conducted for which adequate reserves, to the extent
required under GAAP, have been taken.” 
 (u) Section 8.18 of the Credit Agreement is hereby amended by deleting the
provision in its entirety and replacing it with the following revised Section 8.18: 
 “SECTION 8.18
Commodity Agreements. The Borrower shall have entered into, on or before October 26, 2012, with respect to swaps, and on or before December 10, 2012 (or such later date as the Required Lenders reasonably determine offers more
beneficial pricing to the Borrower, so long as the Borrower enters into such arrangements on such date), with respect to puts, Commodity Agreements reasonably satisfactory to the Administrative Agent and the Required Lenders covering at least 50% of
the oil and gas that is attributable to the Borrower’s net revenue interest share of production projected to be produced for a period of between 6 and 12 months from the Closing Date, so long as the establishment costs relating to such
commodity hedging arrangements shall at no time exceed in the aggregate $3,000,000. Such commodity hedging transactions 

  
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may include collars for volumes attributable to 50% of the Borrower’s interest in production, net of volumes attributable to lessors’ royalties, Production Payments and Reserve Sales;
and puts for volumes attributable to 50% of the Borrower’s net revenue interest in production.” 
 (v)
Section 8.19(b) of the Credit Agreement is hereby amended by deleting clause (ii) in its entirety and replacing it with the following revised clause (ii): 

“(ii) at all times from and after the entry of the Final Order, the Credit Parties have Liquidity of no less than
$15,000,000; provided that Liquidity shall include the accounts receivable associated with the initial revenue payments made during the period from February 15, 2013 through March 31, 2013 from the “first party purchasers”
associated with the initial period of production from the Clipper Project;” 
 (w) Article VIII of the Credit Agreement is
hereby amended by adding the following new Sections 8.22 through 8.27 immediately after Section 8.21 contained therein: 
 “SECTION 8.22 Milestones. The Borrower shall comply with each of the milestones set forth on Schedule 8.22. 

SECTION 8.23 Replacement Financing Facility; Deferral Arrangements. The Borrower shall use commercially reasonable
efforts to (a) obtain additional liquidity by (i) obtaining a replacement financing facility with third parties (a “Replacement Financing Facility”), which may be junior in priority to the Indebtedness, or, subject to
prior written consent of the Required Lenders in their sole discretion, on a pari passu basis with the Indebtedness and/or (ii) deferring payments due to third parties (“Deferral Arrangements”), in either case in form and
substance reasonably satisfactory to the Required Lenders (including in the event such Replacement Financing Facility is made on a pari passu basis with the Indebtedness, agreement as to intercreditor arrangements satisfactory to the Required
Lenders), and (b) enter into written arrangements with such third parties regarding the same. 
 SECTION
8.24 Production Payments and Reserve Sales Obligations. The Borrower shall use commercially reasonable efforts to negotiate a consensual restructuring of its obligations for Production Payments and Reserve Sales or similar obligations on
terms reasonably satisfactory to the Required Lenders. 
 SECTION 8.25 Distributions from Subsidiaries.
The Borrower shall cause its Subsidiaries to upstream all of their revenues to the Borrower; provided that such Subsidiaries may retain that portion of revenues necessary to fund their operations and any portion of revenues necessary to
comply with applicable law or the terms of any applicable agreement binding on such Subsidiaries. 
 SECTION 8.26
Gomez Analysis. If the Borrower determines in good faith, in consultation with the Required Lenders, that the Gomez Analysis shows that the shut in of the Gomez Project wells would be beneficial to the Borrower

  
 12 

 
and its creditors, taking into account both short and long term costs and benefits, it shall use good faith efforts to negotiate with the holders of obligations for Production Payments and
Reserve Sales or similar obligations burdening the Gomez Project wells, consensual arrangements that materially positively impact the Gomez Analysis. 
 SECTION 8.27 Lenders’ Consultant. The Borrower agrees to (a) pay all reasonable fees and out-of-pocket expenses of the Lenders’ Consultant in accordance with Section 12.03,
(b) cooperate, in all respects, with the Lenders’ Consultant, (c) provide full access to the Lenders’ Consultant and (d) provide all information the Lenders’ Consultant may request in a timely manner.” 

(x) Section 9.02 of the Credit Agreement is hereby amended by adding the following new clause (l) immediately after clause
(k) contained therein: 
 “(l) Subject to the Borrower’s compliance with Section 3.04(c)(vi)
and Section 8.23, Debt incurred under a Replacement Financing Facility or arising as a result of the entering into of Deferral Arrangements.” 
 (y) Article IX of the Credit Agreement is hereby amended by adding the following new Section 9.18 immediately after Section 9.17 contained therein: 

“SECTION 9.18 Board Expenses. Commencing as of the 2013 calendar year, the compensation for services and/or
attendance at meetings for members of the Board of Directors of the Borrower shall not exceed $75,000 in the aggregate per calendar year.” 
 (z) Section 10.01(d) of the Credit Agreement is hereby amended by adding after the text “8.20,” the following: “8.22, 8.23, 8.24, 8.25, 8.26, 8.27”. 

(aa) Section 11.09 is hereby amended by deleting the second sentence in the last paragraph thereof and replacing it with the
following sentence: 
 “The Lenders further agree that, in connection with any such credit bid and purchase,
the indebtedness hereunder and under any other Loan Document, together with the Prepetition Hedge Obligations (collectively, the “Secured Obligations”), owed to the Lenders shall be entitled to be, and shall be, credit bid on a
ratable basis (as adjusted herein) and the Lenders whose Secured Obligations are credit bid shall be entitled to receive interests (ratably based upon the proportion (as adjusted herein) of their Secured Obligations credit bid in relation to the
aggregate amount of Secured Obligations so credit bid) in the asset or assets so purchased (or in the equity interests of the acquisition vehicle or vehicles that are used to consummate such purchase); provided that the ratable allocation of
interests of the Third Amendment NM Loan Lenders shall be calculated as if the Third Amendment NM Loans had been issued at a purchase price of 70.00% of the principal amount thereof.” 

  
 13 

 (bb) Section 12.02 of the Credit Agreement is hereby amended by adding the following
new clause (c) immediately after clause (b) contained therein: 
 “(c) In addition to the
foregoing, no waiver, amendment or modification to this Agreement, any Security Instrument or any provision hereof or thereof that adversely affects, in a manner disproportionate to the other Lenders, the Lenders holding Third Amendment NM Loans may
be entered into without the written consent of Lenders holding 66 2/3% of such Loans.” 
 (cc) Annex I of the Credit
Agreement is hereby amended by deleting the current annex and replacing it with the revised Annex I attached to this Amendment. 

(dd) Schedule 8.19 of the Credit Agreement is hereby amended by deleting the current schedule and replacing it with the revised Schedule
8.19 attached to this Amendment. 
 (ee) The Credit Agreement is hereby further amended by adding Schedule 8.22 attached to this
Amendment as Schedule 8.22 to the Credit Agreement. 
 SECTION 3. Final Order; Third Amendment Interim Order and Third
Amendment Final Order. The Borrower hereby agrees to comply with all applicable requirements of the Final Order, the Third Amendment Interim Order (as defined below) and the Third Amendment Final Order with respect to this Amendment.

 SECTION 4. Representations and Warranties. To induce the other parties hereto to enter into this Amendment, the
Borrower hereby represents and warrants to each Lender and to the Administrative Agent that, after giving effect to this Amendment: 
 (a) the representations and warranties of each Loan Party contained in any Loan Document are true and correct in all material respects on and as of the Third Amendment Closing Date to the same extent as
though made on and as of such date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties are true and correct in all material respects on and as of such
earlier date; 
 (b) as of the Third Amendment Closing Date, no Default or Event of Default has occurred and is continuing;

 (c) this Amendment is (i) in accordance with the DIP Documents (as defined in the Final Order), (ii) beneficial to
the Borrower and (iii) not prejudicial in any material respect to the rights of third parties; and 
 (d) attached hereto
as Annex II are true, correct and complete copies of the updated DIP Budget and Clipper Project Budget, which DIP Budget and Clipper Project Budget shall be effective from and after the Third Amendment Closing Date. 

  
 14 

 SECTION 5. Conditions to Effectiveness. This Amendment (other than the
amendments set forth in Sections 2(d), 2(j), 2(p), 2(w), 2(z) and 2(ee)) shall become effective on and as of the date on which each of the following conditions precedent is satisfied in full (such date, the “Third Amendment Closing
Date”): 
 (a) The Administrative Agent (or its counsel) shall have received duly executed counterparts hereof that,
when taken together, bear the authorized signatures of the Borrower, the Required Lenders and each Lender providing a Commitment to make Third Amendment NM Loans. 
 (b) The Administrative Agent shall have received agreements from Lenders to provide an aggregate of $117,000,000 of Commitments for Third Amendment NM Loans. 

(c) The Administrative Agent and the Lenders shall have received all amounts due and payable on or prior to the Third Amendment Closing
Date, including reimbursement or payment of all expenses required to be reimbursed or paid by the Borrower hereunder or under any other Loan Document. 
 (d) The Required Lenders shall have received and be satisfied, in their sole and absolute discretion, with the DIP Budget and the Clipper Budget each revised as of the date hereof and such other
information as may be reasonably requested by the Administrative Agent or any Lender. 
 (e) The Administrative Agent (or its
counsel) shall have received (i) copies of each Organizational Document of the Borrower, and, to the extent applicable, certified as of a recent date by the appropriate governmental official; (ii) signature and incumbency certificates of
the officers of the Borrower executing the Amendment; (iii) resolutions of the Board of Directors of the Borrower approving and authorizing the execution, delivery and performance of this Amendment, certified as of the Third Amendment Closing
Date by its chief financial officer as being in full force and effect without modification or amendment; (iv) a good standing certificate from the applicable Governmental Authority of the Borrower’s jurisdiction of incorporation, and in
each jurisdiction in which it owns real property Collateral, each dated a recent date prior to the Third Amendment Closing Date; and (v) such other documents as the Administrative Agent or any Lender may reasonably request. 

(f) The Administrative Agent (or its counsel) shall have received customary opinions of counsel to the Borrower with respect to this
Amendment. 
 (g) The Borrower shall have agreed to (i) the Lenders’ engagement, at the Borrower’s expense, of
the Lenders’ Consultant, whose scope of services shall be acceptable to the Required Lenders and who shall analyze the Borrower’s economic model and assess the Borrower’s construction and operational projects, (ii) fill the
positions described on Schedule 8.22 that are required to be filled on or before February 22, 2013, and (iii) limit the payment to the members of the Board of Directors of the Borrower of compensation for service and/or attendance at
meetings of such Board of Directors by reducing such amount from an aggregate of approximately $290,000 per year to an aggregate amount of less than $75,000 per year commencing as of the 2013 calendar year; it being understood that the
Borrower’s execution of this Amendment shall be deemed to be an acknowledgment of such agreements by the Borrower. 

  
 15 

 (h) The Borrower shall have delivered to the Administrative Agent and the Lenders a
certificate signed by the CRO that certifies that (i) commercial production from the GC 300 #4ST5 well is anticipated to commence on or before March 3, 2013 and (ii) there has been no indication, nor reason to believe, that the
Commingling Permit will not be granted on a timeframe that would permit the commercial production of the MC 942 C Sand well by May 1, 2013. 
 (i) The Borrower shall have delivered to the Administrative Agent and the Lenders the Gomez Analysis, which shall be in form and detail satisfactory to Required Lenders. 

(j) The Bankruptcy Court shall have entered an interim order (the “Third Amendment Interim Order”), in form and
substance satisfactory to the Administrative Agent and the Required Lenders, approving this Amendment on an interim basis, approving the borrowing of the Third Amendment NM Loans First Tranche Amount, and authorizing the Borrower to enter into this
Amendment, which Third Amendment Interim Order shall be in full force and effect and shall not have been vacated, reversed, modified, amended or stayed. 
 (k) Each Lender that shall have delivered an executed signature page to this Amendment, and released such signature page, on or prior to 12:00 p.m. (New York time) on February 12, 2013 (or such later
time as determined in the Administrative Agent’s sole discretion) (each such Lender, a “Consenting Lender”), shall have received a non-refundable amendment fee in an amount equal to 0.10% of the aggregate principal amount of
such Lender’s Loans outstanding at such time, which fee shall be paid in kind by being capitalized and added to the principal amount of such Loans. 
 SECTION 6. Effectiveness of Certain Amendments. The amendments set forth in Sections 2(d), 2(j), 2(p), 2(w), 2(z) and 2(ee) shall become effective on and as of the date on which the Third
Amendment Final Order is entered so long as the Consenting Lenders shall have received a non-refundable amendment fee in an amount equal to 0.90% of the aggregate principal amount of such Lender’s Loans outstanding as of February 12, 2013,
which fee shall be paid in kind by being capitalized and added to the principal amount of such Loans. 
 SECTION 7. Effect
of Amendment. Except as specifically waived or amended hereby, the Credit Agreement shall continue in full force and effect in accordance with the provisions thereof as in existence on the date hereof. On and after the Third Amendment
Closing Date (or the date on which the Third Amendment Final Order is entered, as the case may be), any reference to the Credit Agreement shall mean the Credit Agreement as modified hereby. This Amendment shall constitute a Loan Document for all
purposes of the Credit Agreement and the other Loan Documents. 
 SECTION 8. Applicable Law. THIS AMENDMENT SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK AND THE BANKRUPTCY CODE. 
 SECTION 9.
Counterparts. This Amendment may be executed in any number of counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one agreement. Delivery of an executed signature page to
this Amendment by facsimile or other customary means of electronic transmission (e.g., “pdf”) shall be as effective as delivery of a manually signed counterpart of this Amendment. 

  
 16 

 SECTION 10. Headings. The Section headings used herein are for convenience of
reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment. 
 [Remainder of page intentionally left blank] 

  
 17 

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

			
	 ATP OIL & GAS CORPORATION, 
 as debtor and debtor-in-possession,

		
	 by
	 	 /s/ Albert L. Reese

		 	Name: Albert L. Reese
		 	Title: Chief Financial Officer

  
 (Signature
Page to Amendment No. 3) 

 
							
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent,
				
		 	By	 		 	
		 		 	 /s/ Megan Kane

		 		 	Name:	 	Megan Kane
		 		 	Title:	 	Authorized Signatory
				
		 	by	 		 	
		 		 	 /s/ Didier Siffer

		 		 	Name:	 	Didier Siffer
		 		 	Title:	 	Authorized Signatory

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT
DATED AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Credit Suisse AG, Cayman Islands Branch,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Megan Kane
	  	
		 		  		  		  	Name:	  	Megan Kane	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	
			
		 		  	For any Lender requiring a second signature line:
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Didier Siffer
	  	
		 		  		  		  	Name:	  	Didier Siffer	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Fortress Credit Investments I LTD,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Glenn P. Cummins
	  	
		 		  		  		  	Name:	  	Glenn P. Cummins	  	
		 		  		  		  	Title:	  	Director	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Fortress Credit Investments II LTD,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Glenn P. Cummins
	  	
		 		  		  		  	Name:	  	Glenn P. Cummins	  	
		 		  		  		  	Title:	  	Director	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Fortress Credit Opportunities I LP,	  	
				
		 		  		  	By: Fortress Credit Opportunities I GP, its General Partner
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Glenn P. Cummins
	  	
		 		  		  		  	Name:	  	Glenn P. Cummins	  	
		 		  		  		  	Title:	  	Treasurer	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Artic Global High Income Fund,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Justin Zybrod Jr.
	  	
		 		  		  		  	Name:	  	Justin Zybrod Jr.	  	
		 		  		  		  	Title:	  	Analyst	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	FPA Crescent Fund,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ E. Lake Setzler III
	  	
		 		  		  		  	Name:	  	E. Lake Setzler III	  	
		 		  		  		  	Title:	  	Asst. Treasurer	  	
			
		 		  	For any Lender requiring a second signature line:
							
		 		  		  	By 	  		  		  	
		 		  		  		  	 /s/ J. Richard Atwood
	  	
		 		  		  		  	Name:	  	J. Richard Atwood	  	
		 		  		  		  	Title:	  	Treasurer	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	FT Opportunistic Distressed Fund, Ltd.,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Alex Guang Yu
	  	
		 		  		  		  	Name:	  	Alex Guang Yu	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Templeton Income Trust – Templeton Global Total Return Fund,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Alex Guang Yu
	  	
		 		  		  		  	Name:	  	Alex Guang Yu	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Franklin Templeton Global Multisector Plus (Master) Fund, Ltd.,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Alex Guang Yu
	  	
		 		  		  		  	Name:	  	Alex Guang Yu	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Franklin Strategic Series-Franklin Strategic Income Fund,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Alex Guang Yu
	  	
		 		  		  		  	Name:	  	Alex Guang Yu	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Templeton Global Investment Trust – Templeton Global Balanced Fund,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Alex Guang Yu
	  	
		 		  		  		  	Name:	  	Alex Guang Yu	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Franklin Strategic Income Fund (Canada),	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Alex Guang Yu
	  	
		 		  		  		  	Name:	  	Alex Guang Yu	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Franklin Templeton Variable Insurance Products Trust-Franklin Strategic Income Securities Fund,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Alex Guang Yu
	  	
		 		  		  		  	Name:	  	Alex Guang Yu	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT 
				
		 	Lender Name:	  	40 North Investments LP,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ David Winter
	  	
		 		  		  		  	Name:	  	David Winter	  	
		 		  		  		  	Title:	  	Member	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT 
				
		 	Lender Name:	  	40 North Investments LP,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ David Winter
	  	
		 		  		  		  	Name:	  	David Winter	  	
		 		  		  		  	Title:	  	Member	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT 
				
		 	Lender Name:	  	 MSD and SLD CHARITABLE
 TRUSTS INVESTING PARTNERSHIP
	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Marc R. Lisker
	  	
		 		  		  		  	Name:	  	Marc R. Lister	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT 
				
		 	Lender Name:	  	TINTORETTO INVESTMENTS, LLC,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Marc R. Lisker
	  	
		 		  		  		  	Name:	  	Marc R. Lisker	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	DOUBLE MAKO INVESTMENTS, LLC,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Marc R. Lisker
	  	
		 		  		  		  	Name:	  	Marc R. Lisker	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT 
				
		 	Lender Name:	  	AUSTIN I LLC,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Marc R. Lisker
	  	
		 		  		  		  	Name:	  	Marc R. Lisker	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	MSD CREDIT OPPORTUNITY MASTER FUND, L.P.,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Marc R. Lisker
	  	
		 		  		  		  	Name:	  	Marc R. Lisker	  	
		 		  		  		  	Title:	  	Managing Director	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Candlewood Special Situations Master Fund, Ltd.,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ David Koenig
	  	
		 		  		  		  	Name:	  	David Koenig	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	CWD OC 522 Master Fund, Ltd.,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ David Koenig
	  	
		 		  		  		  	Name:	  	David Koenig	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone Market Neutral Master Fund, Ltd.,	  	
					
		 		  		  	By: Waterstone Capital Management, L.P.	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone MF Fund, Ltd.,	  	
					
		 		  		  	By: Waterstone Capital Management, L.P.	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone Offshore AD Fund, Ltd.,	  	
					
		 		  		  	By: Waterstone Capital Management, L.P.	  	
							
		 		  		  	By 	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone Offshore ER Fund, Ltd.,	  	
					
		 		  		  	By: Waterstone Capital Management, L.P.	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone Market Neutral Mac51, Ltd.,	  	
					
		 		  		  	By: Waterstone Capital Management, L.P.	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone Distressed Opportunities Master Fund, Ltd.,	  	
					
		 		  		  	By: Waterstone Capital Management, L.P.	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Nomura Waterstone Market Neutral Fund,	  	
						
		 		  		  	By:	  	Waterstone Capital Management, L.P.	  	
						
		 		  		  	by	  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Prime Capital Master SPC, GOT WAT MAC Segregated Portfolio,	  	
						
		 		  		  	By:	  	Waterstone Capital Management, L.P.	  	
						
		 		  		  	By	  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone Offshore BLR Fund, Ltd.,	  	
						
		 		  		  	By:	  	Waterstone Capital Management, L.P.	  	
						
		 		  		  	By	  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone MF BLR Fund, Ltd.,	  	
						
		 		  		  	By:	  	Waterstone Capital Management, L.P.	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone Offshore AD BLR Fund, Ltd.,	  	
						
		 		  		  	By:	  	Waterstone Capital Management, L.P.	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Waterstone Distressed Opportunities BLR Fund, Ltd.,	  	
						
		 		  		  	By:	  	Waterstone Capital Management, L.P.	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Jeffrey Erb
	  	
		 		  		  		  	Name:	  	Jeffrey Erb	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Credit Suisse Loan Funding LLC,	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Robert Healey
	  	
		 		  		  		  	Name:	  	Robert Healey	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	
				
		 		  	For any Lender requiring a second signature line:	  	
							
		 		  		  	By	  		  		  	
		 		  		  		  	 /s/ Leigh Dworkin
	  	
		 		  		  		  	Name:	  	Leigh Dworkin	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT 
							
		 	Lender Name:	  		  		  		  		  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Michael P. Zurrilli
	  	
		 		  		  		  	Name:	  	Michael P. Zurrilli	  	
		 		  		  		  	Title:	  	Partner	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
							
		 	Lender Name:	  		  		  		  		  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Michael P. Zurrilli
	  	
		 		  		  		  	Name:	  	Michael P. Zurrilli	  	
		 		  		  		  	Title:	  	Partner & COO	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	 SB 4 CF LLC
 By:
Chicago Fundamental Investment
 Partners, LLC, its Investment Manager
	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Levoyd E Robinson
	  	
		 		  		  		  	Name:	  	Levoyd E. Robinson	  	
		 		  		  		  	Title:	  	Managing Principal	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	 CFIP Ultra Master Fund, Ltd.
 By: Chicago Fundamental Investment Partners, LLC, its Investment Manager
	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Levoyd E Robinson
	  	
		 		  		  		  	Name:	  	Levoyd E. Robinson	  	
		 		  		  		  	Title:	  	Managing Principal	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	 CHGO Loan Funding Ltd.
 By: Chicago Fundamental Investment Partners, LLC, its Investment Manager
	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Levoyd E Robinson
	  	
		 		  		  		  	Name:	  	Levoyd E. Robinson	  	
		 		  		  		  	Title:	  	Managing Principal	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Freestone Trading LLC,	  	
						
		 		  		  	By:	  	SunTrust Bank, its Manager	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Douglas Weltz
	  	
		 		  		  		  	Name:	  	Douglas Weltz	  	
		 		  		  		  	Title:	  	Director	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Goldman Sachs Lending Parnters LLC,	  	
							
		 		  		  	by	  		  		  	
		 		  		  		  	 /s/ Michelle Latzoni
	  	
		 		  		  		  	Name:	  	Michelle Latzoni	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Royal Bank of Scotland PLC,	  	
					
		 		  		  	By: RBS Securities, its Agent	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Dale Stone
	  	
		 		  		  		  	Name:	  	Dale Stone	  	
		 		  		  		  	Title:	  	Managing Director	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	 Trilogy Capital LLC, As Advisor to
 Trilogy Portfolio Co. LLC
 BJC Health System

BJC Pension Plan TrustFPA Crescent Fund,
	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Barry D. Kupferberg
	  	
		 		  		  		  	Name:	  	Barry D. Kupferberg	  	
		 		  		  		  	Title:	  	Director of Research	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	BLT VI LLC,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Robert Healey
	  	
		 		  		  		  	Name:	  	Robert Healey	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Ellis Lake Master Fund, LP,	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Anthony Pasqua
	  	
		 		  		  		  	Name:	  	Anthony Pasqua	  	
		 		  		  		  	Title:	  	Authorized Signatory	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Oppenheimer Senior Floating Rate Fund,	  	
					
		 		  		  	By: Brown Brothers Harriman & Co. acting as agent for OppenheimerFunds, Inc.	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Bill Campbell
	  	
		 		  		  		  	Name:	  	Bill Campbell	  	
		 		  		  		  	Title:	  	AVP	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED
AS OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Oppenheimer Master Loan Fund, LLC,	  	
					
		 		  		  	By: Brown Brothers Harriman & Co. acting as agent for OppenheimerFunds, Inc.	  	
							
		 		  		  	by 	  		  		  	
		 		  		  		  	 /s/ Bill Campbell
	  	
		 		  		  		  	Name:	  	Bill Campbell	  	
		 		  		  		  	Title:	  	AVP	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Oppenheimer Quest for Value Funds for the account of Oppenheimer Global Allocation Fund,	  	
						
		 		  		  	By:	  	Brown Brothers Harriman & Co. acting as agent for OppenheimerFunds, Inc.	  	
						
		 		  		  	by	  		  	
		 		  		  		  	 /s/ Bill Campbell
	  	
		 		  		  		  	Name:	  	Bill Campbell	  	
		 		  		  		  	Title:	  	AVP	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Oppenheimer Global Strategic Income Fund,	  	
						
		 		  		  	By:	  	Brown Brothers Harriman & Co. acting as agent for OppenheimerFunds, Inc.	  	
						
		 		  		  	by	  		  	
		 		  		  		  	 /s/ Bill Campbell
	  	
		 		  		  		  	Name:	  	Bill Campbell	  	
		 		  		  		  	Title:	  	AVP	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Oppenheimer Global Strategic Income Fund/VA,	  	
						
		 		  		  	By:	  	Brown Brothers Harriman & Co. acting as agent for OppenheimerFunds, Inc.	  	
						
		 		  		  	by	  		  	
		 		  		  		  	 /s/ Bill Campbell
	  	
		 		  		  		  	Name:	  	Bill Campbell	  	
		 		  		  		  	Title:	  	AVP	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Onex Debt Opprotunity Fund, Ltd,	  	
						
		 		  		  	By:	  	Onex Credit Partners, LLC, its investment manager	  	
						
		 		  		  	By	  		  	
		 		  		  		  	 /s/ Steven Gutman
	  	
		 		  		  		  	Name:	  	Steven Gutman	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Onex Investment Trust,	  	
						
		 		  		  	By:	  	Onex Credit Partners, LLC, its manager	  	
						
		 		  		  	By	  		  	
		 		  		  		  	 /s/ Steven Gutman
	  	
		 		  		  		  	Name:	  	Steven Gutman	  	
		 		  		  		  	Title:	  	General Counsel	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Thracia LLC,	  	
						
		 		  		  	by	  		  	
		 		  		  		  	 /s/ John Vassalo
	  	
		 		  		  		  	Name:	  	John Vassalo	  	
		 		  		  		  	Title:	  	Director of Operations	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Managed Account Services - MAPS,	  	
						
		 		  		  	by	  		  	
		 		  		  		  	 /s/ John Vassalo
	  	
		 		  		  		  	Name:	  	John Vassalo	  	
		 		  		  		  	Title:	  	Director of Operations	  	

  
 (Signature
Page to Amendment No. 3) 

													
		 		  		  	SIGNATURE PAGE TO AMENDMENT NO. 3 DATED AS OF FEBRUARY 13, 2013, IN RESPECT OF THE SENIOR SECURED SUPER PRIORITY PRIMING DEBTOR IN POSSESSION CREDIT AGREEMENT DATED AS
OF AUGUST 29, 2012, AMONG ATP OIL & GAS CORPORATION, AS DEBTOR AND DEBTOR-IN-POSSESSION, THE LENDERS FROM TIME TO TIME PARTY THERETO AND CREDIT SUISSE AG, AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
				
		 	Lender Name:	  	Pivot Capital (Pivot Global Value Fund),	  	
						
		 		  		  	by	  		  	
		 		  		  		  	 /s/ Daniel Simulevic
	  	
		 		  		  		  	Name:	  	Daniel Simulevic	  	
		 		  		  		  	Title:	  	Assistant PM	  	

  
 (Signature
Page to Amendment No. 3)Unassociated Document

NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.  THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

PURSUANT TO THE TERMS OF SECTION 2 OF THIS WARRANT, ALL OR A PORTION OF THIS WARRANT MAY HAVE BEEN EXERCISED, AND THEREFORE THE ACTUAL NUMBER OF WARRANT SHARES REPRESENTED BY THIS WARRANT MAY BE LESS THAN THE AMOUNT SET FORTH ON THE FACE HEREOF.

COMMON STOCK PURCHASE WARRANT

 DESERT GATEWAY, INC.

 

	
Warrant No.

Warrant Shares: _______

	Initial Exercise Date: February 14, 2013

 

THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or his/her/its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on the five (5) year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from Desert Gateway, Inc., a Delaware corporation (the “Company”), up to ______ shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock.  The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1.                      Definitions.  Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement (the “Purchase Agreement”), dated February 12, 2013, among the Company and the purchasers signatory thereto.

 

 

Section 2.                      Exercise.

 

a)           Exercise of Warrant.  Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise form annexed hereto and within three (3) Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer of immediately available funds or cashier’s check drawn on a United States bank or, if available, pursuant to the cashless exercise procedure specified in Section 2(c) below. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required.  Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased.  The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within one (1) Business Day of receipt of such notice.  The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

b)           Exercise Price.  The exercise price per share of the Common Stock under this Warrant shall be $3.60, subject to adjustment hereunder (the “Exercise Price”).

 

c)           Cashless Exercise.  If at any time after the four month anniversary of the date of the Purchase Agreement, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

   (A) = the VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise;

(B) = the Exercise Price of this Warrant, as adjusted hereunder; and

 

  

  

  

 

(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

Notwithstanding anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant to this Section 2(c).

	 	
d)

	
Mechanics of Exercise.

 

i.      Delivery of Warrant Shares Upon Exercise.  Warrant Shares purchased hereunder shall be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) the shares are eligible for resale by the Holder pursuant to Rule 144, and otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise by the date that is one (1) Trading Day after the latest of (A) the delivery to the Company of the Notice of Exercise and (B) surrender of this Warrant (if required) (including by cashless exercise, if permitted) (such date, the “Warrant Share Delivery Date”).   The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior to the issuance of such shares, having been paid.  If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $2,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. Notwithstanding anything to the contrary, for each failure to timely deliver the Warrant Shares, in the event that the Holder elects to receive payment of liquidated damages pursuant to this Section 2(d)(iv), then such Holder shall not be entitled to receive any Buy-In payments pursuant to Section 2(d)(iv) herein.

 

ii.          Delivery of New Warrants Upon Exercise.  If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

  

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iii.         Rescission Rights.  If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.         Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise.  In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder.  For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.  Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.  Notwithstanding anything to the contrary, for each failure to timely deliver Warrant Shares, in the event that the Holder elects to receive payment of Buy-In pursuant to this Section 2(d)(iv), then such Holder shall not be entitled to receive payment of liquidated damages pursuant to Section 2(d)(i).

 

  

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v.         No Fractional Shares or Scrip.  No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant.  As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

vi.         Charges, Taxes and Expenses.  Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.  The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise.

 

vii.         Closing of Books.  The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

e)           Holder’s Exercise Limitations.  The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other  Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates.  Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith.   To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination.   In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.  For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported.  The “Beneficial Ownership Limitation” shall be 9.99of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant.  The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

  

4

  

 

Section 3.                      Certain Adjustments.

 

a)           Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged.  Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)           Subsequent Equity Sales. If the Company or any Subsidiary thereof, as applicable, at any time while this Warrant is outstanding, shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or Common Stock Equivalents, at an effective price per share less than the Exercise Price then in effect (such lower price, the “Base Share Price” and such issuances collectively, a “Dilutive Issuance”) (it being understood and agreed that if the holder of the Common Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection with such issuance, be entitled to receive shares of Common Stock at an effective price per share that is less than the Exercise Price, such issuance shall be deemed to have occurred for less than the Exercise Price on such date of the Dilutive Issuance at such effective price), then simultaneously with the consummation of each Dilutive Issuance the Exercise Price shall be reduced and only reduced to equal the Base Share Price.  Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued.  Notwithstanding the foregoing, no adjustments shall be made, paid or issued under this Section 3(b) in respect of an Exempt Issuance.  The Company shall notify the Holder, in writing, no later than the Trading Day following the issuance or deemed issuance of any Common Stock or Common Stock Equivalents subject to this Section 3(b), indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price and other pricing terms (such notice, the “Dilutive Issuance Notice”).  For purposes of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant to this Section 3(b), upon the occurrence of any Dilutive Issuance, the Holder is entitled to receive a number of Warrant Shares based upon the Base Share Price regardless of whether the Holder accurately refers to the Base Share Price in the Notice of Exercise. If the Company enters into a Variable Rate Transaction, despite the prohibition thereon in the Purchase Agreement, the Company shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at which such securities may be converted or exercised.

 

  

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c)           Subsequent Rights Offerings.  In addition to any adjustments pursuant to the other subsections of this Section 3, if at any time the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

d)           Pro Rata Distributions.  During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a "Distribution"), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

  

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e)           Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant).  For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration.  If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction.  The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

  

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f)           Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g)           Notice to Holder.

 

i.      Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.      Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice.  The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice  except as may otherwise be expressly set forth herein.

 

  

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Section 4.                      Transfer of Warrant.

 

a)           Transferability.  Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer.  Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.  Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder delivers an assignment form to the Company assigning this Warrant full.  The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

b)           New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney.  Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial Exercise Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

  

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c)           Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time.  The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

d)           Representation by the Holder.  The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act.

 

Section 5.                      Miscellaneous.

 

a)           No Rights as Stockholder Until Exercise.  This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3.

 

b)           Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

c)           Saturdays, Sundays, Holidays, etc.  If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding Trading Day.

 

d)           Authorized Shares.

 

The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.  The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant.  The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed.  The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

  

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Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.  Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

 

e)           Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions of the Purchase Agreement.

 

f)           Restrictions.  The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)           Nonwaiver and Expenses.  No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding the fact that all rights hereunder terminate on the Termination Date.  If the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

  

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h)           Notices.  Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

i)           Limitation of Liability.  No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

j)           Remedies.  The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant.  The Company agrees that monetary damages may not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

 

k)           Successors and Assigns.  Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder.  The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

 

l)           Amendment.  This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

m)           Severability.  Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

n)           Headings.  The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

********************

(Signature Page Follows)

 

  

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IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

 

	 	
DESERT GATEWAY, INC.

 

By:__________________________________________

     Name:

     Title:

 

 

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