Document:

EX-4.2

 Exhibit 4.2 
  

 
 DISCOVER CARD EXECUTION NOTE TRUST

 Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION 

Indenture Trustee 
 CLASS
A(2016-3) TERMS DOCUMENT 
 Dated as of April 19, 2016 

to 
 SECOND AMENDED AND RESTATED
INDENTURE SUPPLEMENT 
 Dated as of December 22, 2015 

for the DiscoverSeries Notes 
 to

 AMENDED AND RESTATED INDENTURE 

Dated as of December 22, 2015 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	
	 ARTICLE I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	 
			
	 Section 1.01
	 	Definitions	  	 	1	  
	 Section 1.02
	 	Representations and Warranties of Issuer	  	 	6	  
	 Section 1.03
	 	Representations and Warranties of Indenture Trustee	  	 	7	  
	 Section 1.04
	 	Limitations on Liability	  	 	7	  
	 Section 1.05
	 	Governing Law	  	 	8	  
	 Section 1.06
	 	Counterparts	  	 	8	  
	 Section 1.07
	 	Ratification of Indenture and Indenture Supplement	  	 	8	  
	
	 ARTICLE II

THE CLASS A(2016-3) NOTES
	   

  

			
	 Section 2.01
	 	Creation and Designation	  	 	8	  
	 Section 2.02
	 	Adjustments to Required Subordinated Percentages and Amount	  	 	8	  
	 Section 2.03
	 	Interest Payment	  	 	9	  
	 Section 2.04
	 	[Reserved]	  	 	9	  
	 Section 2.05
	 	Payments of Interest and Principal	  	 	9	  
	 Section 2.06
	 	Form of Delivery of Class A(2016-3) Notes; Depository; Denominations	  	 	9	  
	 Section 2.07
	 	Delivery and Payment for the Class A(2016-3) Notes	  	 	10	  
	 Section 2.08
	 	Targeted Deposits to the Accumulation Reserve Account	  	 	10	  
	 Section 2.09
	 	Additional Issuances of Notes	  	 	10	  
	 Section 2.10
	 	Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes	  	 	11	  
	 Section 2.11
	 	Variable Accumulation Period	  	 	11	  

 EXHIBIT A FORM OF CLASS A(2016-3) NOTE 

  
 -i- 

 THIS CLASS A(2016-3) TERMS DOCUMENT (this “Terms Document”), by and between
DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the
United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of April 19, 2016. 

Pursuant to this Terms Document, the Issuer shall create a new Tranche of Class A Notes of the DiscoverSeries and shall specify the
principal terms thereof. 
 ARTICLE I 

Definitions and Other Provisions of General Application 

Section 1.01 Definitions. For all purposes of this Terms Document, except as otherwise expressly provided or unless the context
otherwise requires: 
 (1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as
well as the singular; 
 (2) all other terms used herein which are defined in the Indenture Supplement or the Indenture, either directly or
by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings
assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted
hereunder means such accounting principles as are generally accepted in the United States of America at the date of such computation; 
 (4)
all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this Terms Document; the words “herein,”
“hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular Article, Section or other subdivision; 

(5) in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in
the Indenture Supplement or the Indenture, the terms and provisions of this Terms Document shall be controlling, but solely with respect to the Class A(2016-3) Notes; 

(6) each capitalized term defined herein shall relate only to the Class A(2016-3) Notes and no other Tranche of Notes issued by the Issuer;

 (7) “including” and words of similar import will be deemed to be followed by “without limitation”; and 

 (8) for purposes of determining any amount or making any calculation hereunder, such amount or
calculation, (x) if specified to be as of the first day of any Due Period, shall (a) include any Notes issued during such Due Period as if such Notes had been outstanding on the first day of such Due Period and (b) give effect to any
payments, deposits or other allocations made on the Distribution Date related to the prior Due Period and (y) if specified to be as of the close of business on the last day of any Due Period shall give effect to any payments, deposits or other
allocations made on the related Distribution Date. 
 “Accumulation Amount” means $25,000,000; provided,
however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture
Supplement. 
 “Accumulation Commencement Date” means April 1, 2020, or such later date as the Calculation Agent on
behalf of the Issuer determines in accordance with Section 2.11 hereof. 
 “Accumulation Period” has the meaning set
forth in the Indenture Supplement. 
 “Accumulation Period Length” means 12 months; provided, however, if the
commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Period Length shall be determined in accordance with the definition of “Accumulation Period Length” in the Indenture
Supplement. 
 “Accumulation Reserve Funding Period” shall not apply if the Calculation Agent on behalf of the Issuer
notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following
table was in effect on the immediately preceding Distribution Date, if such Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the
earlier to occur of: 
 (x) the Expected Maturity Date for the Class A(2016-3) Notes and 

(y) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2016-3) Notes is paid in full. 

 

			
	 Distribution Date:
	  	 Condition:

		
	(a) The Distribution Date occurring three (3) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11 hereof) and any following Distribution
Date	  	No condition.
		
	(b) The Distribution Date occurring four (4) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11 hereof) and any following Distribution Date	  	The three-month rolling average Excess Spread Percentage is less than 4%.

  
 2 

			
	(c) The Distribution Date occurring six (6) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11 hereof) and any following Distribution
Date	  	The three-month rolling average Excess Spread Percentage is less than 3%.
		
	(d) The Distribution Date occurring twelve (12) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11 hereof) and any following Distribution
Date	  	The three-month rolling average Excess Spread Percentage is less than 2%.

 provided, however, if at any point the Accumulation Reserve Funding Period has not commenced because no
condition requiring funding has occurred or the Calculation Agent has determined that the Accumulation Period Length will be shortened to one (1) month, and subsequently a condition requiring funding occurs and the Calculation Agent determines
that the Accumulation Period Length will not be so shortened, the Accumulation Reserve Funding Period shall commence on the following Distribution Date. 

“Class A(2016-3) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event with respect
to the Class A(2016-3) Notes or (b) an Event of Default and acceleration of the Class A(2016-3) Notes; provided, however, that if the only such event to have occurred is an Excess Spread Early Redemption Event for which an Excess
Spread Early Redemption Cure has occurred, a Class A(2016-3) Adverse Event shall not be treated as continuing from and after the date of such cure. 

“Class A(2016-3) Note” means any Note, in the form set forth in Exhibit A hereto, designated therein as a Class A(2016-3)
Note and duly executed and authenticated in accordance with the Indenture. 
 “Class A(2016-3) Noteholder” means a Person
in whose name a Class A(2016-3) Note is registered in the Note Register. 
 “Class A(2016-3) Termination Date” means the
earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2016-3) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and
satisfied pursuant to Article VI thereof. 
 “Excess Spread Percentage” for any Distribution Date means a fraction, the
numerator of which is the Excess Spread Amount for such Distribution Date multiplied by 12 and the denominator of which is the sum of the Nominal Liquidation Amounts of all Tranches of DiscoverSeries Notes as of the first day of the related
Due Period. 

  
 3 

 “Expected Maturity Date” means April 15, 2021. 

“Indenture” means the Amended and Restated Indenture, dated as of December 22, 2015, between the Issuer and Indenture
Trustee, as such agreement may be further amended, supplemented, restated, amended and restated, replaced or otherwise modified from time to time. 

“Indenture Supplement” means the Second Amended and Restated Indenture Supplement, dated as of December 22, 2015, for
the DiscoverSeries Notes, between the Issuer and the Indenture Trustee, as the same may be further amended, supplemented, restated, amended and restated, replaced or otherwise modified from time to time. 

“Initial Dollar Principal Amount” means $300,000,000, or such higher amount as is specified in any Notice of Additional
Issuance under Section 2.09 hereof. 
 “Interest Accrual Period” means, with respect to any Interest Payment Date, the
period from and including the previous Interest Payment Date (or, in the case of the first Interest Payment Date for any Class A(2016-3) Note, from and including the applicable Issuance Date) to but excluding such Interest Payment Date. 

“Interest Payment Date” means the fifteenth day of each month commencing in May 2016, or if such fifteenth day is not a
Business Day, the next succeeding Business Day. 
 “Issuance Date” means April 19, 2016, with respect to all Class
A(2016-3) Notes issued on the date hereof and, with respect to any additional Class A(2016-3) Notes issued pursuant to Section 2.09 hereof, any Issuance Date specified in the Notice of Additional Issuance delivered thereunder. 

“Legal Maturity Date” means October 16, 2023. 

“Note Interest Rate” means 1.85% per annum, calculated on the basis of twelve 30-day months and a 360-day year. 

“Notice of Additional Issuance” has the meaning set forth in Section 2.09 hereof. 

“Required Daily Deposit Target Finance Charge Amount” means, for any day in a Due Period, an amount equal to the Class A
Tranche Interest Allocation for the related Distribution Date. 
 “Required Daily Deposit Target Principal Amount” means,
for any day in a Due Period, (i) if such Due Period is in the Accumulation Period for the Class A(2016-3) Notes, the Accumulation Amount, (ii) if such day is on or after the occurrence and during the continuance of a Class A(2016-3)
Adverse Event, the Nominal Liquidation Amount of the Class A(2016-3) Notes and (iii) in all other circumstances, zero. 

  
 4 

 “Required Subordinated Amount of Class B Notes” means, for the Class A(2016-3)
Notes for any date of determination, an amount equal to the product of 
 (a) the Required Subordinated Percentage of Class B Notes for such
Class A(2016-3) Notes on such date of determination; and 
 (b) the Nominal Liquidation Amount of such Class A(2016-3) Notes on such date of
determination; 
 provided, however, that for any date of determination on or after the occurrence and during the continuation of a Class
A(2016-3) Adverse Event, the Required Subordinated Amount of Class B Notes for the Class A(2016-3) Notes will be the greater of 
 (x) the
amount determined above for such date of determination; and 
 (y) the amount determined above for the date immediately prior to the date on
which such Class A(2016-3) Adverse Event shall have occurred. 
 “Required Subordinated Amount of Class C Notes” means, for
the Class A(2016-3) Notes for any date of determination, an amount equal to the product of 
 (a) the Required Subordinated Percentage of
Class C Notes for such Class A(2016-3) Notes on such date of determination; and 
 (b) the Nominal Liquidation Amount of such Class
A(2016-3) Notes on such date of determination; 
 provided, however, that for any date of determination on or after the occurrence and during
the continuation of a Class A(2016-3) Adverse Event, the Required Subordinated Amount of Class C Notes for the Class A(2016-3) Notes will be the greater of 

(x) the amount determined above for such date of determination; and 

(y) the amount determined above for the date immediately prior to the date on which such Class A(2016-3) Adverse Event shall have occurred.

 “Required Subordinated Amount of Class D Notes” means, for the Class A(2016-3) Notes for any date of determination, an
amount equal to the product of 
 (a) the Required Subordinated Percentage of Class D Notes for such Class A(2016-3) Notes on such date of
determination; and 
 (b) the Nominal Liquidation Amount of such Class A(2016-3) Notes on such date of determination; 

provided, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2016-3) Adverse Event,
the Required Subordinated Amount of Class D Notes for the Class A(2016-3) Notes will be the greater of 
 (x) the amount determined above
for such date of determination; and 

  
 5 

 (y) the amount determined above for the date immediately prior to the date on which the Class
A(2016-3) Adverse Event shall have occurred. 
 “Required Subordinated Percentage of Class B Notes” means, for the Class
A(2016-3) Notes, 6.96202532%, subject to adjustment in accordance with Section 2.02. 
 “Required Subordinated Percentage of
Class C Notes” means, for the Class A(2016-3) Notes, 8.86075950%, subject to adjustment in accordance with Section 2.02. 

“Required Subordinated Percentage of Class D Notes” means, for the Class A(2016-3) Notes, 10.75949368%, subject to adjustment
in accordance with Section 2.02. 
 “Specified Rating” means, for the Class A(2016-3) Notes, Aaa(sf) with respect to
Moody’s, AAA(sf) with respect to Standard & Poor’s and AAAsf with respect to Fitch. 
 “Stated Principal
Amount” means $300,000,000 or such higher amount as is specified in any Notice of Additional Issuance under Section 2.09. 

“Targeted Accumulation Reserve Subaccount Deposit” means, with respect to any Distribution Date during the Accumulation
Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2016-3) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the
Calculation Agent on behalf of the Issuer. 
 Section 1.02 Representations and Warranties of Issuer. The Issuer represents and
warrants that: 
 (a) the Issuer has been duly formed and is validly existing as a statutory trust in good standing under the laws of the
State of Delaware, and has full power and authority to execute and deliver this Terms Document and to perform the terms and provisions hereof; 

(b) the execution, delivery and performance of this Terms Document by the Issuer have been duly authorized by all necessary limited liability
company and statutory trust proceedings of the Beneficiary and the Owner Trustee, do not require any approval or consent of any governmental agency or authority and do not and will not conflict with any material provision of the Certificate of Trust
or the Trust Agreement of the Issuer; 
 (c) this Terms Document is the valid, binding and enforceable obligation of the Issuer, except as
the same may be limited by receivership, insolvency, reorganization, moratorium or other laws relating to the enforcement of creditors’ rights generally or by general equity principles; 

(d) to the best of the Issuer’s knowledge, this Terms Document will not conflict with any law or governmental regulation or court decree
applicable to it; 
 (e) the Issuer is not required to be registered under the Investment Company Act; 

  
 6 

 (f) all information heretofore furnished by the Issuer in writing to the Indenture Trustee for
purposes of or in connection with this Terms Document or any transaction contemplated hereby is, and all such information hereafter furnished by the Issuer in writing to the Indenture Trustee will be, true and accurate in every material respect or
based on reasonable estimates on the date as of which such information is stated or certified; and 
 (g) to the best knowledge of the
Issuer, there are no proceedings or investigations pending against the Issuer before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Issuer (i) asserting the
invalidity of this Terms Document, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Terms Document or (iii) seeking any determination or ruling which in the Issuer’s judgment would materially
and adversely affect the performance by the Issuer of its obligations under this Terms Document or the validity or enforceability of this Terms Document. 

Section 1.03 Representations and Warranties of Indenture Trustee. The Indenture Trustee represents and warrants and any successor
trustee shall represent and warrant that: 
 (a) the Indenture Trustee is organized, existing and in good standing under the laws of the
United States of America; 
 (b) the Indenture Trustee has full power, authority and right to execute, deliver and perform this Terms
Document, and has taken all necessary action to authorize the execution, delivery and performance by it of this Terms Document; and 
 (c)
this Terms Document has been duly executed and delivered by the Indenture Trustee. 
 Section 1.04 Limitations on Liability.

 (a) It is expressly understood and agreed by the parties hereto that (i) this Terms Document is executed and delivered by the Owner
Trustee not individually or personally but solely as Owner Trustee under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on
the part of the Issuer is made and intended not as a personal representation, undertaking or agreement by the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained will be construed as
creating any liability on the Owner Trustee individually or personally, to perform any covenant of the Issuer either expressed or implied herein, all such liability, if any, being expressly waived by the parties to this Terms Document and by any
Person claiming by, through or under them and (iv) under no circumstances will the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken by the Issuer under this Terms Document or any related documents. 
 (b) None of the
Indenture Trustee, the Owner Trustee, the Calculation Agent, the Beneficiary, the Depositor, any Master Servicer or any Servicer or any of their respective officers, directors, employees, incorporators or agents will have any liability with respect
to this Terms Document, and recourse may be had solely to the Collateral pledged to secure these Class A(2016-3) Notes under the Indenture, the Indenture Supplement and this Terms Document. 

  
 7 

 Section 1.05 Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH
AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT REFERENCE TO ANY CONFLICT OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER STATE. 

Section 1.06 Counterparts. This Terms Document may be executed in any number of counterparts, each of which when so executed will
be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.07
Ratification of Indenture and Indenture Supplement. As supplemented by this Terms Document, each of the Indenture and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as supplemented by the Indenture
Supplement and this Terms Document shall be read, taken and construed as one and the same instrument. 
 ARTICLE II 

The Class A(2016-3) Notes 

Section 2.01 Creation and Designation. There is hereby created a Tranche of Class A Notes to be issued pursuant to this Terms
Document, the Indenture and the Indenture Supplement to be known as the “DiscoverSeries Class A(2016-3) Notes.” 

Section 2.02 Adjustments to Required Subordinated Percentages and Amount. 

(a) On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class B Notes, the
Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2016-3) Notes, without the consent of any Noteholders; provided that the Issuer has received written
confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. 

(b) On any date, the Issuer may, at the direction of the Beneficiary, replace all or a portion of the Required Subordinated Amount of Class B
Notes, the Required Subordinated Amount of Class C Notes or the Required Subordinated Amount of Class D Notes, in each case for the Class A(2016-3) Notes with a different form of credit enhancement (including, without limitation, a cash collateral
account, a letter of credit, a reserve account, a surety bond, an insurance policy or a collateral interest, or any combination thereof) and may add such definitions and other terms and make such additional amendments to this Terms Document as shall
be necessary for such replacement without the consent of any Noteholders, provided that the Issuer has received written confirmation from each applicable Note Rating Agency that such replacement and such other amendments will not result in a
Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. 

  
 8 

 Section 2.03 Interest Payment. For the first Interest Payment Date, May 16,
2016, the amount of interest due with respect to the Class A(2016-3) Notes is $400,833.33. For each Interest Payment Date following the first Interest Payment Date for any Class A(2016-3) Note, the amount of interest due with respect to the Class
A(2016-3) Notes shall be an amount equal to 
  

	 	(i)	(A) a fraction, the numerator of which is 30 and the denominator of which is 360, times 

  

	 	(B)	the Note Interest Rate in effect with respect to such related Interest Accrual Period, times 

  

	 	(ii)	the Outstanding Dollar Principal Amount of the Class A(2016-3) Notes determined as of the first date of such related Interest Accrual Period, 

plus any Class A Tranche Interest Allocation Shortfall for such Class A(2016-3) Notes for the immediately preceding Distribution Date, together
with interest thereon at the Note Interest Rate in effect with respect to such related Interest Accrual Period, calculated on the basis of twelve 30-day months and a 360-day year. 

Section 2.04 [Reserved] 

Section 2.05 Payments of Interest and Principal. 

(a) The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity Date;
provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture
Supplement; and provided, further, that if a Class A(2016-3) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class A(2016-3) Notes in
accordance with Sections 3.01 and 3.05 of the Indenture Supplement. All payments of interest and principal on the Class A(2016-3) Notes shall be made as set forth in Section 1102 of the Indenture. 

(b) The right of the Class A(2016-3) Noteholders to receive payments from the Issuer will terminate on the Class A(2016-3) Termination Date.

 (c) All payments of principal, interest or other amounts to the Class A(2016-3) Noteholders will be made pro rata based on the
Stated Principal Amount of their Class A(2016-3) Notes. 
 Section 2.06 Form of Delivery of Class A(2016-3) Notes; Depository;
Denominations. 
 (a) The Class A(2016-3) Notes shall be delivered in the form of a Global Note which shall be a Registered Note as
provided in Section 204 of the Indenture. The form of the Class A(2016-3) Notes is attached hereto as Exhibit A. 

  
 9 

 (b) The Depository for the Class A(2016-3) Notes shall be The Depository Trust Company, and the
Class A(2016-3) Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class A(2016-3) Notes will
be issued in minimum denominations of $100,000 and integral multiples of $1,000 in excess of that amount. 
 Section 2.07 Delivery
and Payment for the Class A(2016-3) Notes. The Issuer shall execute and deliver the Class A(2016-3) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2016-3) Notes when authenticated, each in
accordance with Sections 203 and 303 of the Indenture. 
 Section 2.08 Targeted Deposits to the Accumulation Reserve Account.
The deposit targeted to be made to the Accumulation Reserve Subaccount for the Class A(2016-3) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit
minus any amount on deposit in the Accumulation Reserve Subaccount for the Class A(2016-3) Notes. 
 Section 2.09 Additional
Issuances of Notes. Subject to clauses (ii), (iii), (iv) and (v) of Section 2.02 and Section 2.03 of the Indenture Supplement, the Issuer may issue additional Class A(2016-3) Notes, so long as the following conditions
precedent are satisfied: 
 (a) the Issuer shall have given the Indenture Trustee written notice of such issuance of additional Class
A(2016-3) Notes (the “Notice of Additional Issuance”) at least one (1) Business Day in advance of the Issuance Date thereof, which notice shall include: 
  

	 	(i)	the Issuance Date of such additional Class A(2016-3) Notes; 

  

	 	(ii)	the amount of such additional Class A(2016-3) Notes being offered and the resulting Initial Dollar Principal Amount and Stated Principal Amount of Class A(2016-3) Notes; 

 

	 	(iii)	the date from which interest on such additional Class A(2016-3) Notes will accrue (which may be a date prior to the date of issuance thereof); 

 

	 	(iv)	the first Interest Payment Date on which interest will be paid on such additional Class A(2016-3) Notes; and 

  

	 	(v)	any other terms that the Issuer set forth in such notice of issuance of additional Class A(2016-3) Notes to clarify the rights of Holders of such additional Class A(2016-3) Notes or the effect of such issuance of
additional Class A(2016-3) Notes on any calculations to be made with respect to the Class A(2016-3) Notes, the Class A Notes or the Issuer. 

All such terms shall be incorporated into and form a part of this Terms Document on and after the effective date of such Class A(2016-3) Notes; 

(b) no Class A(2016-3) Adverse Event has occurred and is continuing; and 

  
 10 

 (c) either (i) the issuance of such additional Class A(2016-3) Notes would be treated as
part of the same issue as the outstanding Class A(2016-3) Notes under Treasury Regulation Sections 1.1275-1(f)(1) or 1.1275-2(k) or (ii) such additional Class A(2016-3) Notes are not issued with “original issue discount” for purposes
of Section 1273 of the Code. 
 The Issuer shall not have to satisfy the conditions set forth in Section 310 of the Indenture in
connection with an issuance of additional Class A(2016-3) Notes so long as such conditions were satisfied or waived in connection with the initial issuance of Class A(2016-3) Notes; provided, however, that the Issuer shall have to
deliver to the Indenture Trustee a Master Trust Tax Opinion and an Issuer Tax Opinion with respect to such issuance. 
 Section 2.10
Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes. At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections
allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal
to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including
the Class A(2016-3) Notes) and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal
Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries. 

Section 2.11 Variable Accumulation Period. Notwithstanding anything to the contrary in Section 4.02 of the Indenture
Supplement, the Calculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, delay the commencement of the Accumulation Period for the Class A(2016-3) Notes and determine a new Accumulation Commencement Date, subject
to the conditions set forth in this Section 2.11; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A(2016-3) Notes.
Any such delay by the Calculation Agent on behalf of the Issuer shall be made no later than the first day of the scheduled Due Period immediately preceding the first Due Period in the Accumulation Period (after giving effect to any prior delay in
the commencement of the Accumulation Period pursuant to this Section 2.11). 
 The Calculation Agent on behalf of the Issuer shall
cause such delay if the Calculation Agent determines in good faith that each of the following conditions will be satisfied: (i) the Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the
Calculation Agent on behalf of the Issuer reasonably believes that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period
for the Class A(2016-3) Notes will not result in any Tranche of Notes not being paid in full on the relevant Expected Maturity Date (as defined in the applicable Terms Document); (ii) such delay is permitted under the Series 2007-CC Series
Supplement or any other applicable agreement relating to any Additional Collateral Certificate; and (iii) the Accumulation Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have been

  
 11 

 
adjusted. The Calculation Agent on behalf of the Issuer shall not be required to obtain confirmation from the applicable Note Rating Agencies that such delay in the commencement of the
Accumulation Period will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes, unless at the time of such delay there is a Tranche of Outstanding DiscoverSeries Notes, which were issued prior to January 1, 2009 and
for which the commencement of the Accumulation Period for such Tranche of Notes has already been delayed pursuant to Section 4.02 of the Indenture Supplement. If such confirmation from the applicable Note Rating Agency is not required, the
Calculation Agent on behalf of the Issuer shall provide written notice to each applicable Note Rating Agency in the event that the commencement of the Accumulation Period for the Class A(2016-3) Notes is delayed pursuant to this Section 2.11.

 [Remainder of page intentionally blank; signature page follows] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have caused this Terms Document to be duly executed, all
as of the day and year first above written. 
  

			
	DISCOVER CARD EXECUTION NOTE TRUST,
as Issuer
		
	By:	 	Wilmington Trust Company,
not in its individual capacity but solely as
Owner Trustee
		
	By:	 	/s/ Jennifer A. Luce
		 	Name: Jennifer A. Luce
		 	Title: Vice President
	
	U.S. BANK NATIONAL ASSOCIATION,
as Indenture Trustee
		
	By:	 	/s/ Julia Linian
		 	Name: Julia Linian
		 	Title: Vice President

 [Signature Page to Class A(2016-3) Terms Document] 

 EXHIBIT A 

FORM OF CLASS A(2016-3) NOTE 

 DISCOVERSERIES CLASS A(2016-3) NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO
THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE, BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT AT ANY TIME
INSTITUTE AGAINST THE ISSUER, ANY MASTER TRUST OR ANY SPECIAL PURPOSE ENTITY THAT ACTS AS A DEPOSITOR WITH RESPECT TO ANY MASTER TRUST OR THE ISSUER, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUER, ANY MASTER TRUST OR ANY SPECIAL PURPOSE ENTITY THAT
ACTS AS A DEPOSITOR WITH RESPECT TO ANY MASTER TRUST OR THE ISSUER, ANY RECEIVERSHIP, INSOLVENCY, BANKRUPTCY OR SIMILAR PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY
OBLIGATIONS RELATING TO THE NOTES, THE INDENTURE, ANY DERIVATIVE AGREEMENT, ANY SUPPLEMENTAL CREDIT ENHANCEMENT AGREEMENT AND ANY SUPPLEMENTAL LIQUIDITY AGREEMENT. 

THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A BENEFICIAL
INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

			
	 REGISTERED
 No. [●]
	  	 $[●]*

CUSIP NO. 254683 BU8

DISCOVER CARD EXECUTION NOTE TRUST 

1.85% 
 DISCOVERSERIES
CLASS A(2016-3) NOTE 
 DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (herein
referred to as the “Issuer” or the “Note Issuance Trust”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of $[●]
([●] dollars) payable on the April 15, 2021 Payment Date (the “Expected Maturity Date”), except as otherwise provided below or in the Indenture or the Indenture Supplement (as defined on the reverse hereof);
provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the October 16, 2023 Payment Date (the “Legal Maturity Date”). Interest will accrue on this Note at the rate of
1.85% per annum, as more specifically set forth in the Class A(2016-3) Terms Document dated as of April 19, 2016 (the “Terms Document”), between the Issuer and U.S. Bank National Association, as Indenture Trustee (the
“Indenture Trustee”, which term includes any successor Indenture Trustee under the Indenture), and shall be due and payable on each Interest Payment Date for the period from and including the previous Interest Payment Date (or, in
the case of the first Interest Payment Date for any Class A(2016-3) Notes, from and including the applicable Issuance Date) to but excluding such Interest Payment Date. Interest will be computed on the basis of twelve 30-day months and a 360-day
year (or, in the case of the first Interest Payment Date, based on a 26-day period and a 360-day year). Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal and interest may be payable monthly, and may be payable earlier or later than the Expected Maturity Date, following an Event of
Default or while an Early Redemption Event has occurred and is continuing. No principal or interest will be distributed on the Note following the distribution of proceeds of a Receivables Sale. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. 
 The Initial Dollar Principal Amount of the Class A(2016-3) Notes is $300,000,000.

 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though
fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by the Indenture Trustee
whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture, Indenture Supplement or the Terms Document referred to on the reverse hereof, or be valid or obligatory for any purpose. 

 

	* 	Denominations of $100,000 and in integral multiples of $1,000 in excess thereof. 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer. 
  

			
	 DISCOVER CARD EXECUTION NOTE TRUST, as Issuer

		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity, but solely as Owner Trustee
		
	By:	 	 
		 	Name:
		 	Title:
		
		 	Date:            , 20    

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

			
	US BANK NATIONAL ASSOCIATION, not in its individual capacity, but solely as Indenture Trustee
		
	By:	 	 
		 	Name:
		 	Title:
		
		 	Date:            , 20    

 REVERSE OF NOTE 

This Note is one of the Notes of a duly authorized issue of Notes of the Issuer, designated as its 1.85% Class A(2016-3) DiscoverSeries Notes
(herein called the “Class A(2016-3) Notes”), all issued under an Amended and Restated Indenture dated as of December 22, 2015 (such Indenture, as may be further amended, restated, amended and restated, supplemented, replaced or
otherwise modified from time to time, is herein called the “Indenture”), as supplemented by a Second Amended and Restated Indenture Supplement for the DiscoverSeries Notes, dated as of December 22, 2015 (such Indenture
Supplement, as may be further amended, restated, amended and restated, supplemented, replaced or otherwise modified from time to time, is herein called the “Indenture Supplement”), between the Issuer and Indenture Trustee, to which
Indenture and Indenture Supplement reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Holders of the Notes. The Class A(2016-3) Notes are subject to all terms of
the Indenture, the Indenture Supplement and the Terms Document. All terms used in this Class A(2016-3) Note that are defined in the Indenture, the Indenture Supplement and the Terms Document shall have the meanings assigned to them in or pursuant to
the Indenture, the Indenture Supplement and the Terms Document. 
 The Class B Notes, the Class C Notes and the Class D Notes of the
DiscoverSeries and other tranches of Class A Notes of the DiscoverSeries will also be issued under the Indenture and the Indenture Supplement. 

The Class A(2016-3) Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the
Indenture and the Indenture Supplement. 
 Principal of the Class A(2016-3) Notes will be payable on the Expected Maturity Date in an amount
described on the face hereof except as otherwise provided in the Indenture or the Indenture Supplement. 
 As described above, the entire
unpaid principal amount of this Class A(2016-3) Note shall be due and payable on the Legal Maturity Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Class A(2016-3) Notes shall be due and payable on the date on which an
Event of Default relating to the Class A(2016-3) Notes shall have occurred and be continuing and, except in the event of an insolvency related default, the Indenture Trustee or the Majority Holders of the applicable Series, Class or Tranche of
Outstanding Dollar Principal Amount of the Outstanding Notes have declared the Class A(2016-3) Notes to be immediately due and payable in the manner provided in Section 702 of the Indenture; provided, however, that such
acceleration of the entire unpaid principal amount of the Notes may be rescinded by the Majority Holders of such applicable Series, Class or Tranche of Notes. 

On any day occurring on or after the date on which the aggregate Nominal Liquidation Amount of any Tranche of Notes is reduced to less than 5%
of its highest Outstanding Dollar Principal Amount, the Depositor or any Affiliate thereof has the right, but not the obligation, to redeem such Tranche of Notes in whole but not in part, pursuant to Section 1202 of the Indenture. The
redemption price will be an amount equal to the Outstanding Dollar Principal Amount of such Tranche, plus accrued, unpaid and additional interest or principal accreted and unpaid on such Tranche to but excluding the date of redemption. 

 Subject to the terms and conditions of the Indenture, the Beneficiary, on behalf of the Note
Issuance Trust, may from time to time issue, or direct the Owner Trustee, on behalf of the Note Issuance Trust, to issue, one or more Series, Classes or Tranches of Notes. 

On each Payment Date, the Paying Agent shall distribute to each Holder of Class A(2016-3) Notes of record on the related Record Date (except
for the final distribution with respect to this Class A(2016-3) Note) such Holder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest and principal on the Class A
Notes. 
 Payments of interest on this Class A(2016-3) Note due and payable on each Payment Date, together with any installment of
principal, if any, to the extent not in full payment of this Class A(2016-3) Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Class A(2016-3) Note on the Note Register as of the close of business
on each Record Date, except that with respect to Class A(2016-3) Notes registered on the Record Date in the name of the nominee of the clearing agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in
immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring
that this Class A(2016-3) Note be submitted for notation of payment. Any reduction in the principal amount of this Class A(2016-3) Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon
all future Holders of this Class A(2016-3) Note and of any Class A(2016-3) Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided
in the Indenture, for payment in full of the then remaining unpaid principal amount of this Class A(2016-3) Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Registered
Holder hereof as of the Record Date preceding such Payment Date by notice mailed within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender of this Class A(2016-3) Note at the
Indenture Trustee’s principal Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. 

As provided in the Indenture and subject to certain limitations set forth therein and as set forth in the first legend on the face hereof, the
transfer of this Class A(2016-3) Note may be registered on the Note Register upon surrender of this Class A(2016-3) Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by a commercial bank or trust company
located, or having a correspondent located, in the City of New York or the city in which the Corporate Trust Office is located, or a member firm of a national securities exchange, and such other documents as the Indenture Trustee may require, and
thereupon one or more new Class A(2016-3) Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or
exchange of this Class A(2016-3) Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 

 To the fullest extent permitted by applicable law, each Noteholder or Note Owner, by acceptance
of a Class A(2016-3) Note or, in the case of a Note Owner, a beneficial interest in a Class A(2016-3) Note, covenants and agrees that by accepting the benefits of the Indenture it will not at any time institute against the Issuer, any Master Trust
or any special purpose entity that acts as a depositor with respect to any Master Trust or the Issuer, or join in any institution against the Issuer, any Master Trust or any special purpose entity that acts as a depositor with respect to any Master
Trust or the Issuer of, any receivership, insolvency, bankruptcy or other similar proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the
Indenture, any Derivative Agreement, any Supplemental Credit Enhancement Agreement and any Supplemental Liquidity Agreement. 
 Prior to the
due presentment for registration of transfer of this Class A(2016-3) Note, the Issuer, the Indenture Trustee and any agent of the Issuer or the Indenture Trustee may treat the Person in whose name this Class A(2016-3) Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Class A(2016-3) Note be overdue, and neither the Issuer, the Indenture Trustee nor any such agent
shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof
and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Holders of Notes representing not less than 66 2/3% of the Outstanding
Dollar Principal Amount of each adversely affected Series, Class or Tranche of Notes. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Dollar Principal Amount of the Notes,
on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Class
A(2016-3) Note shall be conclusive and binding upon such Holder and upon all future Holders of this Class A(2016-3) Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation
of such consent or waiver is made upon this Class A(2016-3) Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued
thereunder. 
 The term “Issuer” as used in this Class A(2016-3) Note includes any successor to the Issuer under the
Indenture. 
 The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the
Indenture Trustee and the Holders of Notes under the Indenture. 
 The Class A(2016-3) Notes are issuable only in registered form in
denominations as provided in the Indenture, subject to certain limitations therein set forth. 

 THIS CLASS A(2016-3) NOTE AND THE INDENTURE WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT REFERENCE TO ANY CONFLICT OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER STATE. 

No reference herein to the Indenture and no provision of this Class A(2016-3) Note or of the Indenture shall alter or impair the obligation of
the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Class A(2016-3) Note at the times, place, and rate, and in the coin or currency herein prescribed. 

No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer on the Notes or under the Indenture or any
certificate or other writing delivered in connection therewith, against (i) the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary, agent, officer,
director or employee of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer or any successor or assign of the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed
(it being understood that the Owner Trustee has no such obligations in its individual capacity). The Holder of this Class A(2016-3) Note by the acceptance hereof agrees that, except as expressly provided in the Indenture and the Indenture Supplement
in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent
recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Class A(2016-3) Note. 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

 
 FOR VALUE RECEIVED, the undersigned hereby
sells, assigns and transfers unto 
 (name and address of assignee) 

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said Note on the books kept for registration
thereof, with full power of substitution in the premises. 
  

									
					
	Dated:                                
                                         
                   	 		 		 	 	 	*
		 		 		 	Signature Guaranteed:	 	

  

	*	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.EX-10.1

 Exhibit 10.1 
  

 
  

 
 

 
 TENTH AMENDMENT TO CREDIT
AGREEMENT 
 dated as of April 14, 2016 

among 
 Memorial
Production Operating LLC, 
 as Borrower, 

The Guarantors Party Hereto, 

Wells Fargo Bank, National Association, 

as Administrative Agent, 

JPMorgan Chase Bank, N.A., 

as Syndication Agent, 

Royal Bank of Canada, Citizens Bank, N.A., MUFG Union Bank, N.A. f/k/a Union Bank, 

N.A., and 
 Comerica Bank,

 as Co-Documentation Agents, 

and 
 The Lenders Party
Hereto 
  
  

Wells Fargo Securities, LLC and J.P. Morgan Securities LLC 

Co-Lead Arrangers and Joint Bookrunners 
  

 
  

 Exhibit 10.1 
  

 
  

 
 

 
 TENTH AMENDMENT TO CREDIT
AGREEMENT 
 dated as of April 14, 2016 

among 
 Memorial
Production Operating LLC, 
 as Borrower, 

The Guarantors Party Hereto, 

Wells Fargo Bank, National Association, 

as Administrative Agent, 

JPMorgan Chase Bank, N.A., 

as Syndication Agent, 

Royal Bank of Canada, Citizens Bank, N.A., MUFG Union Bank, N.A. f/k/a Union Bank, 

N.A., and 
 Comerica Bank,

 as Co-Documentation Agents, 

and 
 The Lenders Party
Hereto 
  
  

Wells Fargo Securities, LLC and J.P. Morgan Securities LLC 

Co-Lead Arrangers and Joint Bookrunners 
  

 
  

 TENTH AMENDMENT TO CREDIT
AGREEMENT 
 This TENTH AMENDMENT TO
CREDIT AGREEMENT (this “Tenth Amendment”), dated as of April 14, 2016 (the “Tenth Amendment Effective Date”), is among MEMORIAL PRODUCTION
OPERATING LLC, a limited liability company formed under the laws of the State of Delaware (the “Borrower”); MEMORIAL PRODUCTION PARTNERS LP, a limited partnership formed
under the laws of the State of Delaware (the “Parent”); each of the other undersigned guarantors (together with the Borrower and the Parent, collectively, the “Loan Parties”); each of the Lenders that is a signatory
hereto; and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, together with its successors, the “Administrative
Agent”). 
 Recitals 

A. The Borrower, the Parent, the Administrative Agent and the Lenders are parties to that certain Credit Agreement dated as of
December 14, 2011 (as amended prior to the date hereof, the “Credit Agreement”), pursuant to which the Lenders have, subject to the terms and conditions set forth therein, made certain credit available to and on behalf of the
Borrower. 
 B. The Borrower, the Parent, the Administrative Agent and the Lenders desire to (i) amend certain terms
and provisions of the Credit Agreement to, among other things, permit the Borrower to incur certain second lien debt as set forth herein, and (ii) reflect the reduction of the Borrowing Base from $1,175,000,000 to $925,000,000, in each case, to
be effective as of the Tenth Amendment Effective Date. 
 C. NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1. Defined Terms. Each capitalized term which is defined in the Credit Agreement, but which is not defined
in this Tenth Amendment, shall have the meaning ascribed such term in the Credit Agreement, as amended hereby. Unless otherwise indicated, all section references in this Tenth Amendment refer to the Credit Agreement. 

Section 2. Amendments as of the Tenth Amendment Effective Date. In reliance on the representations, warranties,
covenants and agreements contained in this Tenth Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Credit Agreement shall be amended effective as of the Tenth Amendment Effective
Date in the manner provided in this Section 2. 
 2.1 Additional Definitions. Section 1.02 of the
Credit Agreement is hereby amended to add thereto in alphabetical order the following definitions which shall read in full as follows: 

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

  
 1 

 “Bail-In Legislation” means, with respect to any
EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 
 “Beta Freed Cash” has the meaning given to such term in
Section 9.04(b)(i)(C). 
 “Cash Equivalents” means Investments described in
Section 9.05(c), Section 9.05(d), Section 9.05(e) and Section 9.05(f). The “amount” of a Cash Equivalent at any time shall be deemed to be the net amount that the owner of such Cash
Equivalent would receive upon the sale or liquidation thereof at such time, as determined in good faith by a Responsible Officer. 

“Consolidated First Lien Net Secured Debt” means, as of any date of determination,
(a) the aggregate amount of all secured Debt of the Parent and the Consolidated Subsidiaries on a consolidated basis (other than any secured Debt for which the Liens in respect thereof are junior in priority to the Liens securing the credit
facility under the Credit Agreement) as of such date, minus (b) the aggregate amount of unrestricted cash and Cash Equivalents of the Parent and the Consolidated Subsidiaries on such date (provided that the amount subtracted pursuant to
this clause (b) shall not in any event exceed $25,000,000 at any time). 
 “EEA Financial
Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which
is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this
definition and is subject to consolidated supervision with its parent. 
 “EEA Member
Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

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

“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the
Loan Market Association (or any successor person), as in effect from time to time. 
 “Excess
Cash” means the amount of any unrestricted cash and Cash Equivalents of the Borrower and the other Loan Parties in excess of $25,000,000 in the aggregate at any time. 

  
 2 

 “Intercreditor Agreement” means each
intercreditor and subordination agreement entered into among the Borrower, the Administrative Agent and the applicable lender or administrative agent with respect to the Permitted Second Lien Debt, which agreement shall be in form and substance
satisfactory to the Administrative Agent and the Majority Lenders in their sole discretion, as the same may be amended, modified, supplemented or restated from time to time in accordance with the terms thereof. 

“Permitted Second Lien Debt” means secured Debt incurred by the Borrower; provided
that: 
 (a) such Debt shall be in an aggregate principal amount not to exceed $600,000,000 (provided
that the amount of any paid in kind interest added to the principal amount of such Debt following its issuance shall not count towards the maximum aggregate principal amount set forth in this clause (a)); 

(b) such Debt shall be secured solely by Liens on Property upon which there exists first priority (subject to
Liens permitted under Section 9.03) Liens in favor of the Administrative Agent and which Liens are at all times subject to the terms and conditions of an Intercreditor Agreement that is acceptable to the Administrative Agent in its sole
discretion; 
 (c) such Debt shall not mature sooner than the date which is 180 days following the
Maturity Date at the time of the incurrence of such Debt; 
 (d) such Debt shall not provide for or
otherwise require any scheduled payment of principal or scheduled mandatory Redemption prior to the scheduled maturity date of such Debt; 

(e) such Debt shall only be incurred to the extent that the net proceeds thereof are used to substantially
contemporaneously Redeem Permitted Senior Unsecured Notes in accordance with Section 9.04(b)(i)(A) or Permitted Second Lien Debt in accordance with Section 9.04(b)(i)(D); 

(f) (i) the Borrower’s Consolidated Net Interest Expense for the 12-month period following the use of
proceeds of such Debt (or the exchange of such Debt) to Redeem Permitted Senior Unsecured Notes or Permitted Second Lien Debt, as applicable, after giving pro forma effect to the issuance of such Debt and such Redemption, shall be no greater than
what the Consolidated Net Interest Expense for such period would have been had (x) such Debt not been issued and such Redemption not occurred and (y) other than in respect of such Debt that is issued and, as applicable, the Permitted
Senior Unsecured Notes or Permitted Second Lien Debt that is Redeemed, the Borrower’s Consolidated Net Interest Expense remained constant over such 12-month period, and (ii) the Borrower shall have delivered to the Administrative Agent a
certificate of a Responsible Officer certifying as to (A) compliance with the foregoing clause (i) and (B) a schedule attached thereto setting forth in detail satisfactory to the Administrative Agent the calculations necessary to
demonstrate such compliance; 

  
 3 

 (g) immediately after giving effect to the incurrence of such
Debt and the application of the proceeds thereof or in exchange therefor, (i) the Borrower shall be in pro forma compliance with the financial covenants set forth in Section 9.01 (calculated after giving pro forma effect to the
Redemption of Permitted Senior Unsecured Notes or Permitted Second Lien Debt per clause (e) above in this definition) and (ii) no Default, Event of Default or Borrowing Base Deficiency shall exist; and 

(h) such Debt shall be evidenced and governed by documentation containing customary terms and conditions for
similar term loans or notes of like tenor and amount, and which documentation does not contain any covenants or events of default that are more onerous or restrictive to the Borrower than those contained in this Agreement (as determined in good
faith by senior management of the General Partner) other than covenants or events of default that are contained in Permitted Senior Unsecured Notes issued prior to the Tenth Amendment Effective Date, provided that such documentation may
contain an asset coverage test with customary terms and conditions for similar second lien term loans or notes of like tenor and amount; and provided, further, that if the Borrower incurs Permitted Second Lien Debt and the
documentation of such Debt contains an asset coverage test, then such asset coverage test and any necessary definitions shall be deemed incorporated herein in the form (affirmative or negative covenant) provided in such documentation. 

“Permitted Second Lien Debt Documents” means each indenture, credit agreement or other debt
facility governing Permitted Second Lien Debt, all guarantees of Permitted Second Lien Debt and all notes, other agreements, documents or instruments executed and delivered by any Loan Party in connection with, or pursuant to the incurrence of,
Permitted Second Lien Debt. 
 “Tenth Amendment” means that certain Tenth Amendment to
Credit Agreement dated as of the Tenth Amendment Effective Date, among the Borrower, the Parent, the other Guarantors, the Administrative Agent and the Lenders party thereto. 

“Tenth Amendment Effective Date” means April 14, 2016. 

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

  
 4 

 2.2 Amended and Restated Definitions. The definitions of
“Applicable Margin”, “Consolidated Net Interest Expense”, “Loan Documents”, “Material Subsidiary”, “Permitted Additional Debt” and “Responsible
Officer” contained in Section 1.02 of the Credit Agreement are hereby amended and restated in their respective entireties to read in full as follows: 

“Applicable Margin” means, for any day, with respect to any ABR Loan, LIBOR Market Index Loan
or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, the rate per annum set forth in the Total Commitments Utilization Grid below based upon the Total Commitments Utilization Percentage then in effect: 

 

																					
	Total Commitments Utilization Grid	  
						
	 Total Commitments Utilization Percentage
	  	 	<25	% 	 	 
  
	3 25
 <50
	% 
 % 
	 	 
  
	3 50
 <75
	% 
 % 
	 	 
  
	3 75
 <90
	% 
 % 
	 	 	390	% 
	 Eurodollar Loans
	  	 	2.250	% 	 	 	2.500	% 	 	 	2.750	% 	 	 	3.000	% 	 	 	3.250	% 
	 LIBOR Market Index Loans
	  	 	2.250	% 	 	 	2.500	% 	 	 	2.750	% 	 	 	3.000	% 	 	 	3.250	% 
	 ABR Loans
	  	 	1.250	% 	 	 	1.500	% 	 	 	1.750	% 	 	 	2.000	% 	 	 	2.250	% 
	 Commitment Fee Rate
	  	 	0.500	% 	 	 	0.500	% 	 	 	0.500	% 	 	 	0.500	% 	 	 	0.500	% 

 Each change in the Applicable Margin shall apply during the period commencing
on the effective date of such change and ending on the date immediately preceding the effective date of the next such change; provided that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12 and
such failure continues for more than 10 Business Days from the date when such Reserve Report is due, then the “Applicable Margin” means the rate per annum set forth on the grid when the Total Commitments Utilization Percentage is at its
highest level until such Reserve Report is delivered. 
 “Consolidated Net Interest Expense”
means, with respect to the Parent and the Consolidated Subsidiaries, for any period, the difference between (a) the sum of (i) all interest, premium payments, debt discount, fees, charges and related expenses of the Parent and the
Consolidated Subsidiaries in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, (ii) the portion
of rent expense of the Parent and the Consolidated Subsidiaries with respect to such period under Capital Leases that is treated as interest in accordance with GAAP, (iii) any cash interest paid in connection with the issuance or incurrence of
any new Debt permitted hereunder solely to the extent that, pursuant to ASC 470-60, such payments are not accounted for as interest expense, and (b) the sum of (i) interest income actually received in cash by the Parent and the
Consolidated Subsidiaries and (ii) net amounts of realized cash on interest rate Swap Agreements, in the case of (a) and (b), for such period. 

  
 5 

 “Loan Documents” means this Agreement, the First
Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment, the Ninth Amendment, the Tenth Amendment, the Notes, the Letter of Credit Agreements,
the Letters of Credit, the Agency Fee Letter, any Intercreditor Agreement and the Security Instruments. 

“Material Subsidiary” means, as of any date, any Domestic Subsidiary that is a Wholly-Owned
Subsidiary that either (a) together with its Subsidiaries, owns Property having a fair market value of $5,000,000 or more, or (b) otherwise becomes or is required to become a Guarantor pursuant to Section 8.14. 

“Permitted Additional Debt” means, collectively, the Debt evidenced by (a) the Permitted
Senior Unsecured Notes Documents, if Permitted Senior Unsecured Notes are then outstanding and (b) the Permitted Second Lien Debt Documents, if Permitted Second Lien Debt is then outstanding. 

“Responsible Officer” means, as to any Person, the Chief Executive Officer, the President, any
Financial Officer or any Vice President of such Person. Unless otherwise specified, all references to a Responsible Officer herein shall mean a Responsible Officer of the General Partner. 

2.3 Amendment to Definition of “Defaulting Lender”. The definition of “Defaulting Lender” contained
in Section 1.02 of the Credit Agreement is hereby amended by adding the following words immediately prior to the semi-colon in clause (d) thereof: 

“or has (or whose parent has) become the subject of a Bail-in Action” 

2.4 Amendment to Section 3.04 of the Credit Agreement. A new Section 3.04(e) is hereby added to the Credit
Agreement immediately following Section 3.04(d) thereof, which new Section 3.04(e) shall read in full as follows: 

(e) Excess Cash Balances. If on any Business Day the Borrower and the other Loan Parties have any Excess
Cash greater than $100,000 on such date (other than the proceeds of a Borrowing that will be used within two Business Days of such Borrowing for the purposes set forth on an exhibit to the applicable Borrowing Request (as certified by the Borrower
in such Borrowing Request)), then the Borrower shall prepay the Borrowings on such Business Day in an amount equal to the amount of Excess Cash. Each prepayment of Borrowings pursuant to this Section 3.04(e) shall be applied ratably to
the Loans included in the prepaid Borrowings and shall be accompanied by accrued interest to the extent required by Section 3.02 and, if any Excess Cash remains after the Borrowings are fully prepaid, the Borrower shall transfer to the
Administrative Agent on behalf of the Lenders an amount equal to the lesser of (A) such remaining Excess Cash and (B) the amount of the LC Exposure to be held as cash collateral as provided in Section 2.08(j). 

  
 6 

 2.5 Amendment to Section 6.02 of the Credit Agreement.
Section 6.02 of the Credit Agreement is hereby amended by (a) deleting the “and” at the end of clause (d) thereof, (b) replacing the “.” at the end of clause (e) thereof with “; and” and
(c) adding the following new clause (f) to the end thereof which shall read in full as follows: 

(f) (i) at the time of such Borrowing before giving effect thereto, the Borrower and the Loan Parties
shall not have any Excess Cash and (ii) such Borrowing (after giving effect to the use of proceeds therefrom (as certified by the Borrower in the applicable Borrowing Request) on or around such date, but in any event, not to exceed two Business
Days after such date) shall not trigger a mandatory prepayment under Section 3.04(e). 
 2.6 Amendments to
Section 8.01 of the Credit Agreement. 
 (a) Clause (c) of Section 8.01 of the Credit Agreement is hereby
amended and restated in its entirety to read in full as follows: 
 (c) Certificate of Financial Officer
– Compliance. Concurrently with any delivery of financial statements under Section 8.01(a) or Section 8.01(b), a certificate of a Financial Officer in substantially the form of Exhibit D hereto (i) certifying as
to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance
with Section 8.13(a), Section 8.14(a) and Section 9.01, (iii) stating whether any change in GAAP or in the application thereof has occurred since the date of the audited financial statements referred to in
Section 7.04 and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate and (iv) setting forth reasonably detailed calculations demonstrating the
Parent’s ratio of Total Funded Debt as of the last day of the applicable fiscal period to Consolidated EBITDAX for the Rolling Period then ending. 

(b) Clause (m) of Section 8.01 of the Credit Agreement is hereby amended and restated in its entirety to read in
full as follows: 
 (m) Issuance of Permitted Senior Unsecured Notes and Permitted Second Lien Debt.
In the event the Parent or the Borrower intends to offer or issue Permitted Senior Unsecured Notes or Permitted Second Lien Debt, prior written notice of such intended offering or issuance of such Permitted Senior Unsecured Notes or Permitted Second
Lien Debt, the amount thereof, the anticipated date of closing and, promptly when available, a copy of the preliminary offering memorandum (if any), the final offering memorandum (if any), the preliminary term sheet (if any) and the final term sheet
(if any), as applicable. 
 2.7 Amendment to Section 8.13 of the Credit Agreement. Section 8.13 of the
Credit Agreement is hereby amended by deleting each reference therein to “80%” and inserting in lieu thereof in each instance a reference to “90%”. 

  
 7 

 2.8 Amendment to Section 9.01 of the Credit Agreement.
Section 9.01 of the Credit Agreement is hereby amended to add a new clause (c) to the end thereof to read in full as follows: 

(c) The Borrower will not, as of the last day of any fiscal quarter, permit the Parent’s ratio of
Consolidated First Lien Net Secured Debt as of such day to Consolidated EBITDAX for the Rolling Period ending on such day to be greater than 3.25 to 1.00. 

2.9 Amendment to Section 9.02 of the Credit Agreement. Section 9.02 of the Credit Agreement is hereby amended
by (a) deleting the “and” at the end of clause (g) thereof, (b) replacing the “.” at the end of clause (h) thereof with “; and” and (c) adding the following new clause (i) to the end
thereof which shall read in full as follows: 
 (i) Permitted Second Lien Debt and guarantees thereof by any
Loan Party; provided that the terms thereof are subject at all times to an Intercreditor Agreement. 
 2.10
Amendment to Section 9.03(f) of the Credit Agreement. Section 9.03(f) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows: 

(f) Liens on Mortgaged Property securing Permitted Second Lien Debt, provided that such Liens
(i) are junior to the Liens in favor of the Administrative Agent securing the Indebtedness and (ii) are subject at all times to an Intercreditor Agreement. 

2.11 Further Amendment to Section 9.03 of the Credit Agreement. The last sentence of Section 9.03 of the
Credit Agreement (which follows Section 9.03(f)) is hereby amended by amending and restating the parenthetical included in such sentence to read in full as “(other than Liens securing the Indebtedness, Excepted Liens and Liens permitted by
Section 9.03(f))”. 
 2.12 Amendments to Section 9.04 of the Credit Agreement. 

(a) Section 9.04(a) of the Credit Agreement is hereby amended by deleting clauses (iv) and (v) thereof in their
entirety and replacing them with the following to read in full as follows: 
 (iv) the Parent (and, at any
time when the Borrower owns, directly or indirectly, 100% of the Equity Interests of the Parent, the Borrower) may make Restricted Payments of Available Cash to holders of its Equity Interests in compliance with the terms of its Organizational
Documents; provided that (A) no Borrowing Base Deficiency or Event of Default shall have occurred and be continuing, or would exist immediately after giving effect to such Restricted Payments, (B) (1) with respect to any such
payments made prior to June 1, 2016, Availability shall be not less than the greater of (x) $75,000,000 and (y) 10% of the Borrowing Base then in effect after giving pro forma effect to such Restricted Payments, and (2) with
respect to any such payments made on or after June 1, 2016, Availability shall be not less than the greater of (x) $75,000,000 and 

  
 8 

 
(y) 15% of the Borrowing Base then in effect after giving pro forma effect to such Restricted Payments; provided that the aggregate amount of all such Restricted Payments made under
this clause (iv) in any fiscal quarter for which Parent’s pro forma ratio (immediately after giving effect to such payment) of Total Funded Debt as of the date of such payment to Consolidated EBITDAX for the most recently ended Rolling
Period for which financial statements are available is greater than or equal to 4.00 to 1.00 shall not exceed $4,150,000 during such fiscal quarter, and (C) the making of any such Restricted Payment under this clause (iv) shall be deemed
to constitute a representation and warranty by the Borrower on the date thereof that the applicable conditions set forth in this clause (iv) have been met, and (v) [reserved]. 

(b) Section 9.04(b) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:

 (b) Repayment of Permitted Additional Debt; Amendment of Terms of Permitted Additional Debt. The
Borrower will not, and will not permit any other Loan Party to, prior to the date that is 180 days after the Maturity Date: 

(i) call, make or offer to make any optional or voluntary Redemption of or otherwise optionally or voluntarily
Redeem (whether in whole or in part) any Permitted Senior Unsecured Notes or Permitted Second Lien Debt, except that: 

(A) so long as no Default exists, the Borrower or the Parent may, substantially contemporaneously with
(1) its receipt of any cash proceeds from (x) any issuance of Permitted Senior Unsecured Notes or (y) any sale of Equity Interests in the Borrower or the Parent (other than Disqualified Capital Stock), prepay or otherwise Redeem
Permitted Senior Unsecured Notes in an amount equal to the amount of the net cash proceeds of such issuance of Permitted Senior Unsecured Notes or such sale of Equity Interests of the Borrower or the Parent, or (2) (x) its receipt of any
cash proceeds from the incurrence of or (y) the issuance, in exchange for Permitted Senior Unsecured Notes, of Permitted Second Lien Debt, prepay or otherwise Redeem Permitted Senior Unsecured Notes solely with the proceeds of or in exchange
for such Permitted Second Lien Debt, provided that the aggregate consideration paid for, or the aggregate principal amount of Permitted Second Lien Debt (other than the amount of any paid in kind interest added to such principal amount)
issued in exchange for, such Redeemed Permitted Senior Unsecured Notes shall not exceed 50% of the aggregate principal amount of Permitted Senior Unsecured Notes so Redeemed; 

(B) the Borrower may prepay or otherwise Redeem Permitted Additional Debt with the proceeds of Swap
Liquidations and the sale or other disposition of Properties, provided that (1) (x) with respect to any such Redemption made prior to June 1, 2016, Availability shall not be 

  
 9 

 
less than the greater of (I) $75,000,000 and (II) 10% of the Borrowing Base then in effect after giving pro forma effect to such Swap Liquidation, sale or disposition and such Redemption,
and (y) with respect to any such Redemption made on or after June 1, 2016, Availability shall not be less than the greater of (I) $75,000,000 and (II) 15% of the Borrowing Base then in effect after giving pro forma effect to such Swap
Liquidation, sale or disposition and such Redemption, (2) the Parent’s ratio of Consolidated First Lien Net Secured Debt as of the date of such Redemption to Consolidated EBITDAX for the most recently ended Rolling Period for which
financial statements are available shall not be greater than 3.00 to 1.00 after giving pro forma effect to such Swap Liquidation, sale or disposition and such Redemption, (3) the aggregate consideration paid to Redeem such Permitted Additional
Debt pursuant to this Section 9.04(b)(i)(B) shall not exceed 50% of the aggregate principal amount of the Permitted Additional Debt so Redeemed, (4) any such Redemption of Permitted Additional Debt shall be consummated within 120 days of
the receipt of the proceeds from such Swap Liquidation, sale or disposition, but in any event no later than December 31, 2016, (5) the amount of proceeds from all Swap Liquidations, sales or other dispositions of Properties used to Redeem
Permitted Additional Debt pursuant to this Section 9.04(b)(i)(B) shall not exceed $40,000,000 in the aggregate, (6) no Default or Event of Default shall exist or would result from such Swap Liquidation, sale, disposition or
Redemption, and (7) prior to any such Redemption of Permitted Additional Debt, the Borrower shall have prepaid Borrowings to the extent required by and in accordance with Section 9.12(d)(v) and Section 9.18(d), as
applicable, with respect to such Swap Liquidation, sale or disposition; 
 (C) the Borrower may prepay or
otherwise Redeem Permitted Additional Debt in an amount equal to the sum of (x) the proceeds from the release to the Loan Parties of cash securing certain obligations in connection with Oil and Gas Properties located in the Beta Field offshore
Southern California plus (y) the amount of additional cash security that would have been posted in respect of such obligations through December 31, 2016 had the Loan Parties been required to post such additional cash security (the
sum of clauses (x) and (y), the “Beta Freed Cash”); provided that (1) (x) with respect to any such Redemption made prior to June 1, 2016, Availability shall not be less than the greater of
(I) $75,000,000 and (II) 10% of the Borrowing Base then in effect after giving pro forma effect to such release of cash and such Redemption, and (y) with respect to any such Redemption made on or after June 1, 2016, Availability shall
not be less than the greater of (I) $75,000,000 and (II) 15% of the Borrowing Base then in effect after giving pro forma effect to such release of cash and such Redemption, (2) the Parent’s ratio of Consolidated First Lien Net Secured
Debt as of the date of Redemption to Consolidated EBITDAX for the most recently ended Rolling Period for which financial statements are available shall not be greater than 3.00 to 

  
 10 

 
1.00 after giving pro forma effect to such release of cash and such Redemption, (3) the aggregate consideration paid to Redeem such Permitted Additional Debt pursuant to this
Section 9.04(b)(i)(C) shall not exceed 50% of the aggregate principal amount of the Permitted Additional Debt so Redeemed, (4) any such Redemption of Permitted Additional Debt shall be consummated within 120 days of the receipt of the
proceeds from such release of cash, but in any event no later than December 31, 2016, (5) the amount of Beta Freed Cash used to Redeem Permitted Additional Debt shall not exceed $60,000,000 in the aggregate, and (6) no Default or
Event of Default shall exist or would result from such release of cash or Redemption; and 
 (D) so long as
no Default or Borrowing Base Deficiency exists, the Borrower or the Parent may, substantially contemporaneously with its receipt of any cash proceeds from (1) any issuance of Permitted Senior Unsecured Notes, (2) any sale of Equity
Interests in the Borrower or the Parent (other than Disqualified Capital Stock) or (3) any incurrence of Permitted Second Lien Debt, prepay or otherwise Redeem Permitted Second Lien Debt in an amount equal to the amount of the net cash proceeds
of such issuance of Permitted Senior Unsecured Notes, such sale of Equity Interests of the Borrower or the Parent or such incurrence of Permitted Second Lien Debt; or 

(ii) amend, modify, waive or otherwise change, consent or agree to any amendment, modification, waiver or other
change to, any of the terms of: 
 (A) the Permitted Senior Unsecured Notes Documents (except to the extent a
new issuance of Permitted Senior Unsecured Notes, the proceeds of which were used to Redeem existing Permitted Additional Debt pursuant to the foregoing clause (i)(A), would be permitted to have such terms as so amended, modified, waived or
otherwise changed) if the effect thereof would be to (1) shorten its maturity or average life, (2) increase the amount of any payment of principal thereof, (3) increase the rate or shorten any period for payment of interest thereon,
or (4) modify or amend covenants or events of default such that the resulting covenants and events of default in respect thereof, taken as a whole, are more restrictive with respect to the Loan Parties than the covenants and Events of Default
in this Agreement (as determined in good faith by senior management of the General Partner) without this Agreement being contemporaneously amended to add similar provisions; or 

(B) the Permitted Second Lien Debt Documents to the extent any such amendment or other modification would
violate the Intercreditor Agreement or otherwise cause the Debt incurred thereunder to cease to constitute Permitted Second Lien Debt. 

  
 11 

 2.13 Amendment to Section 9.18 of the Credit Agreement.
Section 9.18(d) of the Credit Agreement is hereby amended by deleting the reference therein to “Section 3.04(c)(iv)” and replacing it with “Section 3.04(c)(iii)”. 

2.14 Amendment to Section 9.21 of the Credit Agreement. Section 9.21 of the Credit Agreement is hereby
amended by deleting the reference to “Permitted Senior Unsecured Notes” contained in such Section and inserting in lieu thereof a reference to “Permitted Additional Debt”. 

2.15 Amendment to Section 10.01 of the Credit Agreement. Clause (l) of Section 10.01 of the Credit
Agreement is hereby amended and restated in its entirety to read in full as follows: 
 (l) the Loan
Documents (including, without limitation, each Intercreditor Agreement) after delivery thereof shall for any reason, except to the extent permitted by the terms thereof, cease to be in full force and effect and valid, binding and enforceable in
accordance with their terms against any Loan Party party thereto (or, in the case of any Intercreditor Agreement, against any other party thereto) or shall be repudiated by any of them, or cease to create a valid and perfected Lien of the priority
required thereby on any material part of the collateral purported to be covered thereby, except to the extent permitted by the terms of this Agreement, or the Borrower or any other Loan Party or any of their Affiliates shall so state in writing;

 2.16 Amendment to Section 11.12 of the Credit Agreement. Section 11.12 of the Credit Agreement is hereby
amended and restated in its entirety to read in full as follows: 
 Section 11.12 Intercreditor Agreements. 

(a) Each of the Lenders, the Issuing Bank and the other Secured Parties hereby irrevocably authorizes and
directs the Administrative Agent to execute and deliver, in each case on behalf of such Secured Party and without any further consent, authorization or other action by such Secured Party, (i) any intercreditor agreement with any Secured Swap
Provider, (ii) from time to time upon the request of the Borrower, in connection with the establishment, incurrence, amendment, modification, refinancing or replacement of any Permitted Second Lien Debt, any Intercreditor Agreement (which, for
the avoidance of doubt, shall be in form and substance satisfactory to the Administrative Agent and the Majority Lenders in their sole discretion) and (iii) any documents relating to any of the foregoing. 

(b) Each of the Lenders, the Issuing Bank and the other Secured Parties hereby irrevocably (i) consents to
the treatment of Liens to be provided for under (A) any intercreditor agreement with any Secured Swap Provider and (B) any Intercreditor Agreement, (ii) agrees that, upon the execution and delivery thereof, such Secured Party will be
bound by the provisions of any such intercreditor agreement or Intercreditor Agreement as if it were a signatory 

  
 12 

 
thereto and will take no actions contrary to the provisions of any such intercreditor agreement or Intercreditor Agreement, (iii) agrees that no Secured Party shall have any right of action
whatsoever against the Administrative Agent as a result of any action taken by the Administrative Agent pursuant to this Section or in accordance with the terms of any such intercreditor agreement or Intercreditor Agreement and (iv) authorizes
and directs the Administrative Agent to carry out the provisions and intent of any such intercreditor agreement or Intercreditor Agreement. 

(c) Each of the Lenders, the Issuing Bank and the other Secured Parties hereby irrevocably further authorizes
and directs the Administrative Agent to execute and deliver, in each case on behalf of such Secured Party and without any further consent, authorization or other action by such Secured Party, any amendments, supplements or other modifications of
(i) any intercreditor agreement with any Secured Swap Provider or (ii) any Intercreditor Agreement that the Borrower may from time to time request (A) to give effect to any establishment, incurrence, amendment, modification,
refinancing or replacement of any Permitted Second Lien Debt in accordance with the terms hereof, (B) to confirm for any party that such Intercreditor Agreement is effective and binding upon the Administrative Agent on behalf of the Secured
Parties or (C) to effect any other amendment, supplement or modification so long as the resulting agreement would constitute an Intercreditor Agreement if executed at such time as a new agreement. 

(d) Each of the Lenders, the Issuing Bank and the other Secured Parties hereby irrevocably further authorizes
and directs the Administrative Agent to execute and deliver, in each case on behalf of such Secured Party and without any further consent, authorization or other action by such Secured Party, any amendments, supplements or other modifications of any
Security Instrument to add or remove any legend that may be required pursuant to any such intercreditor agreement or Intercreditor Agreement. 

(e) The Administrative Agent shall have the benefit of the provisions of Article XI with respect to all actions
taken by it pursuant to this Section 11.12 or in accordance with the terms of any such intercreditor agreement or Intercreditor Agreement to the full extent thereof. 

2.17 Amendment to Article XII of the Credit Agreement. Article XII of the Credit Agreement is hereby amended by adding
a new Section 12.17 at the end thereof which Section 12.17 shall read in full as follows: 

Section 12.17 Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding
anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the
extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such
liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

  
 13 

 (b) the effects of any Bail-in Action on any such liability,
including, if applicable: 
 (i) a reduction in full or in part or cancellation of any such liability; 

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

2.18 Replacement of Exhibit B. Exhibit B to the Credit Agreement is hereby replaced in its entirety with Exhibit
B attached hereto and Exhibit B attached hereto is hereby deemed to be attached as Exhibit B to the Credit Agreement. 

2.19 Replacement of Exhibit D. Exhibit D to the Credit Agreement is hereby replaced in its entirety with Exhibit
D attached hereto and Exhibit D attached hereto is hereby deemed to be attached as Exhibit D to the Credit Agreement. 

2.20 Replacement of Annex I of the Credit Agreement. Annex I to the Credit Agreement is hereby replaced in its entirety
with Annex I attached hereto and Annex I attached hereto shall be deemed to be attached as Annex I to the Credit Agreement. 

Section 3. Borrowing Base Redetermination and Reduction in Aggregate Elected Commitment Amounts. 

3.1 In reliance on the representations, warranties, covenants and agreements contained in this Tenth Amendment, the Borrowing
Base is hereby reduced from $1,175,000,000 to $925,000,000 effective as of the Tenth Amendment Effective Date. The Borrowing Base shall remain at such level until the next Scheduled Redetermination, the next Interim Redetermination or other
adjustment to the Borrowing Base thereafter, whichever occurs first pursuant to the Credit Agreement. The redetermination of the Borrowing Base provided for in this Section 3.1 shall be deemed to be the Scheduled Redetermination
scheduled for on or about April 1, 2016 for purposes of Section 2.07 of the Credit Agreement. 

  
 14 

 3.2 Pursuant to Section 2.06(c)(viii) of the Credit Agreement, the Aggregate
Elected Commitment Amounts are automatically reduced (ratably among the Lenders in accordance with each Lender’s Applicable Percentage) to $925,000,000 on the Tenth Amendment Effective Date, and Annex I to the Credit Agreement shall be deemed
amended to reflect such amendments to each Lender’s Elected Commitment and the Aggregate Elected Commitment Amounts. 

Section 4. Conditions Precedent to this Tenth Amendment. The effectiveness of the amendments to the Credit
Agreement contained in Section 2 hereof is subject to the following: 
 4.1 The Administrative Agent shall have
received counterparts of this Tenth Amendment from the Loan Parties and the Required Lenders. 
 4.2 The Administrative
Agent shall have received all fees and other amounts due and payable on or prior to the Tenth Amendment Effective Date. 

4.3 No Default, Event of Default or Borrowing Base Deficiency shall exist immediately prior to or after giving effect to the
amendments to the Credit Agreement contained in Section 2 hereof or the redetermination of the Borrowing Base provided for in Section 3 hereof. 

4.4 The Administrative Agent shall have received such other documents as the Administrative Agent or counsel to the
Administrative Agent may reasonably request. 
 The Administrative Agent shall notify the Borrower and the Lenders of the
effectiveness of this Tenth Amendment, and such notice shall be conclusive and binding. 
 Section 5. Post-Closing
Covenant regarding Mortgages. In addition to the requirements set forth in Section 8.14 of the Credit Agreement, in connection with each redetermination of the Borrowing Base from and including the Tenth Amendment Effective Date (including
the redetermination of the Borrowing Base provided for in Section 3 hereof) until the Maturity Date, the Borrower shall review the Reserve Report and the list of current Mortgaged Properties (as described in Section 8.12(c)(vi)) to
ascertain whether the Mortgaged Properties represent at least 90% of the total value of the Oil and Gas Properties evaluated in the most recently completed Reserve Report after giving effect to exploration and production activities, acquisitions,
dispositions and production. In the event that the Mortgaged Properties do not represent at least 90% of such total value, then the Borrower shall, and shall cause the other Loan Parties to, within 30 days after the Tenth Amendment Effective Date or
delivery of the certificate required under Section 8.12(a), as applicable (or, in each case, such longer period as the Administrative Agent may agree in its sole discretion), grant to the Administrative Agent as security for the Indebtedness a
first-priority Lien interest (provided that Excepted Liens of the type described in clauses (a) to (d) and (f) of the definition thereof may exist, but subject to the provisos at the end of such definition) on additional Oil and Gas
Properties of the Loan Parties not already subject to a Lien of the Security Instruments such that after giving effect thereto, the Mortgaged Properties will represent at least 90% of such total value. All such Liens will be created and perfected by
and in accordance with the provisions of deeds of trust, security agreements and financing statements or other Security Instruments, all in form and substance reasonably satisfactory to the Administrative Agent and in sufficient executed (and
acknowledged where necessary or appropriate) counterparts for recording purposes. 

  
 15 

 Section 6. Representations and Warranties; Etc. Each Loan Party
hereby affirms: (a) that as of the date hereof, all of the representations and warranties contained in each Loan Document to which such Loan Party is a party are true and correct in all material respects as though made on and as of the date
hereof (unless made as of a specific earlier date, in which case, was true as of such date and except to the extent that any such representation and warranty is qualified by materiality, in which case such representation and warranty shall continue
to be true and correct in all respects), (b) no Defaults exist under the Loan Documents or will, after giving effect to this Tenth Amendment, exist under the Loan Documents and (c) no Material Adverse Effect has occurred. 

Section 7. Miscellaneous. 

7.1 Confirmation and Effect. The provisions of the Credit Agreement (as amended by this Tenth Amendment) shall remain
in full force and effect in accordance with its terms following the effectiveness of this Tenth Amendment. Each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words
of like import shall mean and be a reference to the Credit Agreement as amended hereby, and each reference to the Credit Agreement in any other document, instrument or agreement executed and/or delivered in connection with the Credit Agreement shall
mean and be a reference to the Credit Agreement as amended hereby. 
 7.2 Ratification and Affirmation of Loan
Parties. Each of the Loan Parties hereby expressly (a) acknowledges the terms of this Tenth Amendment, (b) ratifies and affirms its obligations under the Guaranty Agreement and the other Loan Documents to which it is a party, as
amended hereby, (c) acknowledges, renews and extends its continued liability under the Guaranty Agreement and the other Loan Documents to which it is a party, as amended hereby, (d) ratifies and affirms all Liens granted by it pursuant to
the Loan Documents to secure the Indebtedness (except to the extent that such Liens have been released in accordance with the Loan Documents) and (e) agrees that its guarantee under the Guaranty Agreement and the other Loan Documents to which
it is a party, as amended hereby, remains in full force and effect with respect to the Indebtedness. 
 7.3
Counterparts. This Tenth Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of
this Tenth Amendment by facsimile or electronic (e.g., pdf) transmission shall be effective as delivery of a manually executed original counterpart hereof. 

7.4 No Oral Agreement. THIS WRITTEN TENTH AMENDMENT,
THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION
HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND
MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN THE PARTIES. 

  
 16 

 7.5 Governing Law. THIS TENTH
AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF)
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK. 
 7.6 Payment of
Expenses. The Borrower agrees to pay or reimburse the Administrative Agent for all of its out-of-pocket costs and expenses incurred in connection with this Tenth Amendment, any other documents prepared in connection herewith and the transactions
contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent. 

7.7 Severability. Any provision of this Tenth Amendment which is prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 7.8 Successors and Assigns. This Tenth Amendment shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 [Signature pages
follow] 

  
 17 

 IN WITNESS WHEREOF, the parties hereto have caused this Tenth Amendment to be
duly executed effective as of the date first written above. 
  

									
	BORROWER:	 	MEMORIAL PRODUCTION OPERATING LLC,
		 	a Delaware limited liability company
				
		 		  	 By:
	  	 Memorial Production Partners LP,

		 		  		  	 its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC,

		 		  		  	 its general partner

					
		 		  		  	By:	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	Name:	  	 Robert L. Stillwell, Jr.

		 		  		  	Title:	  	 Vice President and Chief Financial Officer

  

									
	GUARANTORS:	 	MEMORIAL PRODUCTION PARTNERS LP,
		 	a Delaware limited partnership
				
		 		  	 By:
	  	 Memorial Production Partners GP LLC,

		 		  		  	 its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

		
		 	COLUMBUS ENERGY, LLC,
		 	a Delaware limited liability company
				
		 		  	 By:
	  	 Memorial Production Operating LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC, its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

									
		 	 WHT ENERGY PARTNERS LLC, a Delaware limited

liability company

				
		 		  	 By:
	  	 Memorial Production Operating LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC, its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

		
		 	RISE ENERGY OPERATING, LLC, a Delaware limited liability company
				
		 		  	 By:
	  	 Memorial Production Operating LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC, its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

									
		 	RISE ENERGY MINERALS, LLC, a Delaware limited liability company
				
		 		  	 By:
	  	 Rise Energy Operating, LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Operating LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC, its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	Robert L. Stillwell, Jr.
		 		  		  	 Title:
	  	Vice President and Chief Financial Officer
		
		 	RISE ENERGY BETA, LLC, a Delaware limited liability company
				
		 		  	 By:
	  	 Rise Energy Operating, LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Operating LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC, its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

									
		 	 MEMORIAL PRODUCTION FINANCE

CORPORATION, a Delaware corporation

				
		 		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  	 Title:
	  	 Vice President and Chief Financial Officer

		
		 	 WHT CARTHAGE LLC, a Delaware limited liability

company

				
		 		  	 By:
	  	 WHT Energy Partners LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Operating LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC, its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

		
		 	 MEMORIAL ENERGY SERVICES LLC,
 a
Delaware limited liability company

				
		 		  	 By:
	  	 Memorial Production Operating LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC, its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

									
		 	 MEMORIAL MIDSTREAM LLC,
 a Texas
limited liability company

				
		 		  	 By:
	  	 Memorial Production Operating LLC, its

sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole

member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC,

its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

		
		 	 PROSPECT ENERGY, LLC,
 a Colorado
limited liability company

				
		 		  	 By:
	  	 Memorial Production Operating LLC, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners LP, its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC,

its general partner

					
		 		  		  	 By:
	  	 /s/ Robert L. Stillwell, Jr.

		 		  		  	 Name:
	  	 Robert L. Stillwell, Jr.

		 		  		  	 Title:
	  	 Vice President and Chief Financial Officer

		
		 	 SAN PEDRO BAY PIPELINE COMPANY,
 a
California corporation

				
		 		  	By:	  	 /s/ Robert L. Stillwell, Jr.

		 		  	Name:	  	Robert L. Stillwell, Jr.
		 		  	Title:	  	Chief Financial Officer

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

 ADMINISTRATIVE AGENT AND LENDER: 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Issuing Bank and a Lender
		
	By:	 	 /s/ Michael Real

	Name:	 	Michael Real
	Title:	 	Director

 [SIGNATURE PAGE TO TENTH
AMENDMENT TO CREDIT AGREEMENT – 
 MEMORIAL
PRODUCTION OPERATING LLC] 

							
	LENDER:	 		 	JPMORGAN CHASE BANK, N.A., as a Lender
				
		 		 	By:	 	 /s/ Theresa M. Benson

		 		 	Name:	 	Theresa M. Benson
		 		 	Title:	 	Authorized Officer

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	CITIBANK, N.A., as a Lender
				
		 		 	By:	 	 /s/ Cliff Vaz

		 		 	Name:	 	Cliff Vaz
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	COMERICA BANK, as a Lender
				
		 		 	By:	 	 /s/ Jeff Treadway

		 		 	Name:	 	Jeff Treadway
		 		 	Title:	 	Senior Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	ROYAL BANK OF CANADA, as a Lender
				
		 		 	By:	 	 /s/ Kristan Spivey

		 		 	Name:	 	Kristan Spivey
		 		 	Title:	 	Authorized Signatory

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	CITIZENS BANK, N.A., as a Lender
				
		 		 	By:	 	 /s/ David W. Stack

		 		 	Name:	 	David W. Stack
		 		 	Title:	 	Senior Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	U.S. BANK NATIONAL ASSOCIATION, as a Lender
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	MUFG UNION BANK, N.A. f/k/a UNION BANK, N.A., as a Lender
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

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

		 		 	Name:	 	Vanessa A. Kurbatskiy
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	BANK OF AMERICA, N.A., as a Lender
				
		 		 	By:	 	 /s/ Raza Jafferi

		 		 	Name:	 	Raza Jafferi
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	NATIXIS, NEW YORK BRANCH, as a Lender
				
		 		 	By:	 	 /s/ Carlos Quinteros

		 		 	Name:	 	Carlos Quinteros
		 		 	Title:	 	Managing Director
				
		 		 	By:	 	 /s/ Brice Le Foyer

		 		 	Name:	 	Brice Le Foyer
		 		 	Title:	 	Director

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	ZB, N.A. DBA AMEGY BANK, as a Lender
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Lender
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	ING CAPITAL LLC, as a Lender
				
		 		 	By:	 	 /s/ Josh Strong

		 		 	Name:	 	Josh Strong
		 		 	Title:	 	Director
				
		 		 	By:	 	 /s/ Scott Lamoreaux

		 		 	Name:	 	Scott Lamoreaux
		 		 	Title:	 	Director

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	REGIONS BANK, as a Lender
				
		 		 	By:	 	 /s/ Daniel G. Steele

		 		 	Name:	 	Daniel G. Steele
		 		 	Title:	 	Managing Director

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	SANTANDER BANK, N.A., as a Lender
				
		 		 	By:	 	 /s/ Aidan Lanigan

		 		 	Name:	 	Aidan Lanigan
		 		 	Title:	 	Senior Vice President
				
		 		 	By:	 	 /s/ Puiki Lok

		 		 	Name:	 	Puiki Lok
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	GOLDMAN SACHS BANK USA, as a Lender
				
		 		 	By:	 	 /s/ Jerry Li

		 		 	Name:	 	Jerry Li
		 		 	Title:	 	Authorized Signatory

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	BRANCH BANKING AND TRUST COMPANY, as a Lender
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	COMPASS BANK, as a Lender
				
		 		 	By:	 	 /s/ Gabriela Albino

		 		 	Name:	 	Gabriela Albino
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as a Lender
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	UBS AG, STAMFORD BRANCH, as a Lender
				
		 		 	By:	 	 /s/ Darlene Arias

		 		 	Name:	 	Darlene Arias
		 		 	Title:	 	Director
				
		 		 	By:	 	 /s/ Craig Pearson

		 		 	Name:	 	Craig Pearson
		 		 	Title:	 	Associate Director

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender
				
		 		 	By:	 	 /s/ Stephen Hartman

		 		 	Name:	 	Stephen Hartman
		 		 	Title:	 	Assistant Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	CARGILL, INCORPORATED, as a Lender
				
		 		 	By:	 	 /s/ Tyler R. Smith

		 		 	Name:	 	Tyler R. Smith
		 		 	Title:	 	Authorized Signer

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	SUNTRUST BANK, as a Lender
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	BMO HARRIS BANK, N.A., as a Lender
				
		 		 	By:	 	 /s/ Matthew Davis

		 		 	Name:	 	Matthew Davis
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	CADENCE BANK, N.A., as a Lender
				
		 		 	By:	 	 /s/ Anthony Blanco

		 		 	Name:	 	Anthony Blanco
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender
				
		 		 	By:	 	 /s/ Michael Shannon

		 		 	Name:	 	Michael Shannon
		 		 	Title:	 	Vice President
				
		 		 	By:	 	 /s/ Peter Cucchiara

		 		 	Name:	 	Peter Cucchiara
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

							
	LENDER:	 		 	ASSOCIATED BANK, N.A., as a Lender
				
		 		 	By:	 	 /s/ Kyle Lewis

		 		 	Name:	 	Kyle Lewis
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO TENTH AMENDMENT
TO CREDIT AGREEMENT – 
 MEMORIAL PRODUCTION
OPERATING LLC] 

 EXHIBIT B 

FORM OF BORROWING REQUEST 

[[            ]], 20[    ] 

Memorial Production Operating LLC, a Delaware limited liability company (the “Borrower”), pursuant to Section 2.03 of
the Credit Agreement dated as of December 14, 2011 (together with all amendments, restatements, supplements or other modifications thereto, the “Credit Agreement”) among the Borrower, Wells Fargo Bank, National Association, as
Administrative Agent and the other agents and lenders (the “Lenders”) which are or become parties thereto (unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement), hereby requests a
Borrowing as follows: 
 (i) Aggregate amount of the requested Borrowing is $[        ]; 

(ii) Date of such Borrowing is [            ], 20[    ]; 

(iii) Requested Borrowing is to be [an ABR Borrowing] [a LIBOR Market Index Borrowing] [a Eurodollar Borrowing]; 

(iv) In the case of a Eurodollar Borrowing, the initial Interest Period applicable thereto is
[            ]; 
 (v) Amount of Borrowing Base in effect on the date hereof is
$[        ] and the Aggregate Elected Commitment Amounts in effect on the date hereof is $[        ]; 

(vi) Total Revolving Credit Exposures on the date hereof (i.e., outstanding principal amount of Loans and total LC Exposure) is
$[        ]; and 
 (vii) Pro forma total Revolving Credit Exposures (giving effect to the
requested Borrowing) is $[        ]; 
 (viii) The principal amount of the requested Borrowing
plus the aggregate amount of unrestricted cash and Cash Equivalents of the Loan Parties on the proposed date of such Borrowing is $[        ]; [and] 

[(ix) (a) Attached hereto is an exhibit setting forth in reasonable detail how the proceeds of such Borrowing will be used within two
Business Days of the date of such Borrowing and (b) after giving effect to such use of proceeds, the Loan Parties will not have any Excess Cash; and]1 

 

	1 	Use only if the amount set forth in line (viii) is greater than $25,000,000. 

  
 Exhibit B -1 

 [(ix)] [(x)] Location and number of the Borrower’s account to which funds are to be
disbursed, which shall comply with the requirements of Section 2.05 of the Credit Agreement, is as follows: 

[                          
  ] 

[                          
  ] 

[                          
  ] 

[                          
  ] 

[                          
  ] 

  
 Exhibit B -2 

 The undersigned certifies that he/she is the
[            ] of the Borrower, and that as such he/she is authorized to execute this certificate on behalf of the Borrower. The undersigned further certifies, represents and warrants on
behalf of the Borrower that all conditions precedent to such Borrowing set forth in Section 6.02 of the Credit Agreement including, without limitation, the absence of any Default at the time of and immediately after giving effect to such
Borrowing, are satisfied and that the Borrower is entitled to receive the requested Borrowing under the terms and conditions of the Credit Agreement. 
  

									
		 		 	 MEMORIAL PRODUCTION OPERATING LLC, a Delaware limited liability company

					
		 		 		 	 By:    
	 	 Memorial Production Partners LP,

		 		 		 		 	 its sole member

		 		 		 	 By:
	 	 Memorial Production Partners GP LLC,

		 		 		 		 	 its general partner

				
		 		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  
 Exhibit B -3 

 EXHIBIT D 

FORM OF 
 COMPLIANCE
CERTIFICATE 
 The undersigned hereby certifies that he/she is the
[            ] of Memorial Production Operating LLC, a Delaware limited liability company (the “Borrower”), and that as such he/she is authorized to execute this
certificate on behalf of the Borrower. With reference to the Credit Agreement dated as of December 14, 2011 (together with all amendments, restatements, supplements or other modifications thereto being the “Agreement”) among
the Borrower, Wells Fargo Bank, National Association, as Administrative Agent, and the other agents and lenders (the “Lenders”) which are or become a party thereto, and such Lenders, the undersigned represents and warrants as
follows (each capitalized term used herein having the same meaning given to it in the Agreement unless otherwise specified): 
 (a) The
representations and warranties of the Borrower contained in Article VII of the Agreement and in the Loan Documents and otherwise made in writing by or on behalf of the Borrower pursuant to the Agreement and the Loan Documents were true and correct
when made, and are repeated at and as of the time of delivery hereof and are true and correct in all material respects at and as of the time of delivery hereof, except to the extent such representations and warranties are expressly limited to an
earlier date or the Majority Lenders have expressly consented in writing to the contrary. 
 (b) The Borrower has performed and complied
with all agreements and conditions contained in the Agreement and in the Loan Documents required to be performed or complied with by it prior to or at the time of delivery hereof [or specify default and describe]. 

(c) Since December 31, 2010, no change has occurred, either in any case or in the aggregate, in the condition, financial or otherwise, of
the Borrower or any Subsidiary which could reasonably be expected to have a Material Adverse Effect [or specify event]. 
 (d) There exists
no Default or Event of Default [or specify Default and describe]. 
 (e) Attached hereto are the detailed computations necessary to
determine whether the Borrower is in compliance with Section 8.13(a), Section 8.14(a), and Section 9.01 as of the end of the [fiscal quarter][fiscal year] ending
[            ]. 
 (f) Attached hereto are the detailed computations necessary
to determine the Parent’s ratio of Total Funded Debt to Consolidated EBITDAX as of the end of the most recently ended fiscal quarter. 

[(g) The Parent filed [Annual] [Quarterly] financial statements with the SEC on [    ], 20[    ].]

  
 Exhibit D -1 

 EXECUTED AND DELIVERED this [            ] day of
[            ]. 
  

									
		 	 MEMORIAL PRODUCTION OPERATING LLC,

a Delaware limited liability company

				
		 		  	 By:
	  	 Memorial Production Partners LP,

its sole member

				
		 		  	 By:
	  	 Memorial Production Partners GP LLC,

its general partner

					
		 		  		  	 By:
	  	  

		 		  		  	 Name:
	  	  

		 		  		  	 Title:
	  	  

  
 Exhibit D -2 

 Annex I 

LIST OF MAXIMUM CREDIT AMOUNTS AND ELECTED COMMITMENTS 

as of Tenth Amendment Effective Date 
  

													
	 Name of Lender
	  	Applicable
Percentage	 	 	Maximum Credit
Amount	 	  	Elected Commitment	 
	Wells Fargo Bank, National Association	  	 	6.94444444	% 	 	$	138,888,888.90	  	  	$	64,236,111.10	  
	JPMorgan Chase Bank, N.A.	  	 	6.94444444	% 	 	$	138,888,888.90	  	  	$	64,236,111.10	  
	Bank of America, N.A.	  	 	6.94444444	% 	 	$	138,888,888.90	  	  	$	64,236,111.10	  
	Citibank, N.A.	  	 	6.94444444	% 	 	$	138,888,888.90	  	  	$	64,236,111.10	  
	Barclays Bank PLC	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	Compass Bank	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	Canadian Imperial Bank of Commerce, New York Branch	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	Comerica Bank	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	Credit Agricole Corporate and Investment Bank	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	ING Capital LLC	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	Natixis, New York Branch	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	Royal Bank of Canada	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	MUFG Union Bank, N.A. f/k/a Union Bank, N.A.	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	U.S. Bank National Association	  	 	4.16666667	% 	 	$	83,333,333.33	  	  	$	38,541,666.67	  
	Capital One, National Association	  	 	3.47222222	% 	 	$	69,444,444.44	  	  	$	32,118,055.56	  
	UBS AG, Stamford Branch	  	 	3.47222222	% 	 	$	69,444,444.44	  	  	$	32,118,055.56	  
	BMO Harris Bank, N.A.	  	 	2.56944444	% 	 	$	51,388,888.89	  	  	$	23,767,361.11	  
	Branch Banking and Trust Company	  	 	2.56944444	% 	 	$	51,388,888.89	  	  	$	23,767,361.11	  
	Santander Bank, N.A.	  	 	2.56944444	% 	 	$	51,388,888.89	  	  	$	23,767,361.11	  
	Citizens Bank, N.A.	  	 	2.56944444	% 	 	$	51,388,888.89	  	  	$	23,767,361.11	  
	Regions Bank	  	 	2.34640239	% 	 	$	46,928,047.83	  	  	$	21,704,222.12	  
	Deutsche Bank AG New York Branch	  	 	2.09804205	% 	 	$	41,960,841.06	  	  	$	19,406,888.99	  
	Associated Bank, N.A	  	 	1.87500000	% 	 	$	37,500,000.00	  	  	$	17,343,750.00	  
	Cadence Bank, N.A.	  	 	1.87500000	% 	 	$	37,500,000.00	  	  	$	17,343,750.00	  
	ZB, N.A. dba Amegy Bank	  	 	1.87500000	% 	 	$	37,500,000.00	  	  	$	17,343,750.00	  
	SunTrust Bank	  	 	1.87500000	% 	 	$	37,500,000.00	  	  	$	17,343,750.00	  
	Goldman Sachs Bank USA	  	 	1.04166667	% 	 	$	20,833,333.33	  	  	$	9,635,416.67	  
	Cargill, Incorporated	  	 	0.34722222	% 	 	$	6,944,444.44	  	  	$	3,211,805.56	  
	 TOTAL
	  	 	100.00000000	% 	 	$	2,000,000,000.00	  	  	$	925,000,000.00	  

  
 ANNEX
I–1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}]]