Document:

Exhibit 4.18

 

Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed. The excluded information has been bracketed.

 

Loan Contract

 

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Loan Contract

 

Contract Number: PING YIN(SHENZHEN) DAI ZI No. B251202003030001

x Beyond credit line

þ Within credit line             Credit Facility Contract Name: Comprehensive Credit Facility Contract

Credit Facility Contract Number: PING YIN (SHENZHEN) ZONG ZI No. A251202003030001

 

Party A (Lender): Ping An Bank Co., Ltd. Shenzhen Branch

Domicile (Address): Ping An Bank Building, 1099 Shennan Middle Road, Futian District, Shenzhen

Legal Representative (Responsible Person): Zhiqun Yang  Phone: [***]

Contact Person: Zhiwei Chen  Department: Strategic Account Department IV Position: [***]

Phone: [***]  Email: [***]

 

Party B (Borrower): OneConnect Smart Technology Co., Ltd. (Shenzhen)

Domicile (Address): 55/F, Ping An Finance Center, Yitian Road, Futian District, Shenzhen

Legal Representative (Responsible Person): Wangchun Ye  Phone: [***]

Contact Person: Yan Huang  Department: Treasury Department Position: [***]

Phone: [***]  Email: [***]

 

Whereas Party B applies to Party A for a loan, the Parties hereto, in accordance with the Contract Law and the relevant laws and regulations, and based on the negotiations, enter into this contract. For the avoidance of doubt, if options are involved in any item herein, mark selected option with “þ”, and non-selected option with “x”.

 

Article 1 Loan

 

1.1 Amount of loan: (Currency) RMB (in figure) 700,000,000.00 (in words) Seven Hundred Million Only.

 

1.2 The use of the loan is the item (1) below:

 

(1) Specific use: Day-to-day operation and turnover, and repayment of ordinary working capital bank loan and working capital loan from affiliates.

 

(2) [***]

 

1.3 The item (2) below applies to the loan term:

 

(1) Commencing from       (Month)       (Day),       (Year) and expiring on       (Month)       (Day),       (Year).

 

(2) 12 x Day(s) þ Month(s) x Year(s) commencing from:

 

x the execution date of this contract.

 

þ the first drawdown date hereunder, that is, from       (Month)       (Day),       (Year) (the “First Drawdown Date”) to       (Month)       (Day),       (Year) (the “Maturity Date”); and if the actual first drawdown date comes earlier or later than the said first drawdown date, the maturity date shall be accordingly advanced or extended.

 

Commercial elements such as the actual amount of loan and commencing date and expiration date shall be those as stated on the receipt for loan.

 

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If the loan is released by installments, the maturity date of each installment shall not be later than the maturity date of the first installment.

 

1.4 Loan rate

 

(1) The loan rate hereunder shall be established in accordance with the following criteria (“Rate Determination Method”):

 

x [***]

 

x [***]

 

x [***]

 

x [***]

 

þ Benchmark interest rate on the loan of the same bracket as LPR on the disbursement date x +/þ- [***] base points (variation point).

 

x [***]

 

Interest on the loan shall accrue on the basis of actual days during which the loan remains outstanding. The daily interest rate shall be annual rate/365 for pounds and/or Hong Kong dollars, and annual rate/360 for other currencies.

 

(2) Loan rate hereunder shall be adjusted as follows:

 

x [***]

 

1               [***]

 

2               [***]

 

þ The fixed interest rate shall apply during the loan term.

 

If the interest rate is variable, the loan shall accrue interest at the adjusted interest rate from the interest rate adjustment date, however, if the loan is repaid by installment (including equal principal payment and decreasing-loan payment), the loan shall still accrue interest at the interest rate before the interest rate adjustment for the installment in which the interest rate adjustment date is located, and at the adjusted interest rate from the next installment.

 

(3) In the event that the benchmark interest rate is adjusted several times, Party A shall accordingly adjust the interest rate on the basis of the benchmark interest rate immediately preceding the interest rate adjustment date. In the event that the interest rate on the loan hereunder is based on the benchmark loan interest rate announced by the People’s Bank of China (“PBOC”), and that the said agreed loan interest rate becomes lower than the lower limit of the interest rate prescribed by PBOC because PBOC adjusts the extent of variation of the benchmark interest rate, the loan interest rate hereunder shall be adjusted to such lower limit prescribed by PBOC. In the event that PBOC no longer announces the benchmark interest rate, the loan interest rate hereunder shall be adjusted to the recognized interbank interest rate or the usual interest rate on the loan over the same period and in the same bracket, unless otherwise agreed by the Parties hereto.

 

(4) Where the State changes how to determine the interest rate, adjust the interest rate and calculate the interest, the relevant stipulations of the State shall prevail.

 

(5) Party A will not further notify Party B of any such interest rate adjustment.

 

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1.5 Settlement of interest

 

The 20th day of each month shall be the interest settlement date. Party B shall pay the interest on a x monthly, þ quarter, or x yearly  basis, x or in the method otherwise agreed upon. The maturity date of the loan shall be the last interest settlement date. Upon maturity of the loan, all outstanding interest shall be paid together with the principal.

 

(1) [***]

 

(2) if the interest is paid on a quarterly basis, the first interest settlement date shall be the first 20th day after the disbursement date, and the interest shall be settled every three months after the first interest settlement date.

 

(3) [***]

 

(4) [***]

 

1.6 Penalty interest

 

Penalty interest on the overdue loan hereunder: the interest rate applied hereunder plus [50]%;

 

Penalty interest on the misappropriated loan hereunder: the interest rate applied hereunder plus [100]%.

 

Article 2 Loan Disbursement

 

2.1 Party A has the right to review whether or not the following items have been satisfied prior to each disbursement of loan and to decide whether or not to disburse the loan based on such review, provided that such review does not constitute Party A’s obligation:

 

(1) Party B has completed the legal formalities (if any) such as governmental permission, approval, registration and delivery related to the loan hereunder in accordance with the relevant laws and regulations;

 

(2) The relevant guarantee contract and security interest (if any) have taken effect;

 

(3) Party B has fully paid the expenses (if any) related to this contract;

 

(4) Party B has satisfied the loan conditions agreed herein;

 

(5) There is no any adverse change in the operational and financial positions of Party B and/or the guarantor (if any);

 

(6) Party B does not change its repayment willingness and/or the guarantor (if any) does not change its guarantee willingness;

 

(7) Party B has not violated this contract or any other contractual documents entered into by Party A and Party B;

 

(8) There are no material adverse events that may affect Party A or Party B’s continued performance of this contract.

 

2.2 In the process of loan payment, if Party A finds decline in credit, weak profitability of principal business, and abnormal usage of the loan fund on the part of Party B, Party A has the right to change the loan payment method or terminate the disbursement and payments of the loan fund.

 

2.3 During the performance of this contract, if Party A becomes unable to continue disburse the loan hereunder due to changes in national macro-regulation policies, requirements of regulatory authority for Party A to control the credit scale or credit borrowers and/or for any other reason not attributable to Party A, Party A has the right to terminate the disbursement of the loan and/or terminate this contract and/or require Party B to repay all or part of the debt under the loan in advance, and Party B has no objection thereto.

 

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2.4 Payment method of loan fund

 

Party A and Party B agree that the loan funds shall be paid as follows:

 

þ Full entrusted payment, that is, Party A will, in accordance with the withdrawal request and payment authorization and through the account of Party B, pay the loan fund to Party B’s counterparty who complies with the agreed purpose.

 

x [***]

 

x [***]

 

2.5 Payment management

 

Party A and Party B agree to manage the payment of loan funds as follows:

 

In case of entrusted payment, Party B may require Party A to pay the loan fund only if the following payment conditions are satisfied:

 

(1) Party B submits the request for payment and the corresponding commercial contract and other evidence as required by Party A, and the transaction counterparty, payment amount and other information indicated in the request for payment are consistent with those indicated by the evidence;

 

(2) The request for payment complies with the loan purpose agreed herein;

 

(3) Party B authorizes Party A to pay loan funds to a specific transaction counterparty;

 

Party A has the right to examine whether or not the payment receiver, payment amount and other information listed in the request for payment provided by Party B are consistent with those set out in the evidence such as the corresponding commercial contract, and has the right to reject any request for payment not being covered by the loan purpose set forth herein.

 

[***]

 

2.6 Change in payment method and its triggering conditions

 

Party A has the right to adjust the amount subject to the entrusted payment or change the payment method to full entrusted payment in any of the following circumstances:

 

(1) In case of independent payment, Party B fails to regularly submit to Party A a written summary of the payment of loan funds in accordance with this contract, or refuses to cooperate with Party A to check whether or not the loan payment complies with the agreed purpose through methods such as account analysis, certificate inspection or on-site investigation.

 

(2) Party B violates this contract to evade Party A’s entrusted payment by separating a single payment into several drawdowns /payments with smaller amounts;

 

(3) Creditworthiness of Party B degrades or profitability of principal business of Party B becomes weak;

 

(4) The use of the loan funds becomes abnormal;

 

(5) The standard for entrusted payment is adjusted by the regulatory authority.

 

2.7 Account management

 

Based on negotiations between the Parties, Party B agrees to establish the following account with Party A that will be subject to monitoring by Party A:

 

(1) Party B agrees to establish a loan disbursement account as required by Party A, with the account name being OneConnect Smart Technology Co., Ltd. (Shenzhen) and the account number being [***]. The loan funds shall be paid into and withdrawn through this account. Party A has the right to impose dynamic monitoring on such account. If any abnormality is found, Party A has the right to take measures including but not limited to freezing of account and termination of payment.

 

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(2) Party B agrees to establish a fund collection account as required by Party A:

 

þ the fund collection account is the same as the loan extension account in item 1.

 

x [***].

 

Fund recovery of such account shall comply with the following: /

 

Where Party B fails to repay the debts owed to Party A under the loan on time, Party A has the right to deduct the funds from its fund collection accounts and/or other accounts established by Party B with any and/or all offices of Ping An Bank to repay all debts owed by Party B to Party A, including but not limited to the loan principal and interest and the relevant fees.

 

(3) Party B hereby acknowledges and agrees that Party A has the right to be informed and supervise the fund recovery of Party B (Party B shall provide necessary cooperation) and agrees that Party A has the right to early repayment of the loan depending upon the fund recovery of Party B.

 

Article 3 Repayment

 

3.1 Party B shall repay the principal by the following repayment method (2):

 

(1) [***]

 

(2) One-off repayment of principal upon maturity.

 

3.2 Where Party B repays the principal on a monthly basis, the principal repayment date shall be the interest settlement date of each month starting from the month in which the loan is disbursed; where Party B repays the principal on a quarterly basis, the principal repayment date shall be the interest settlement date every three months after the loan is disbursed; and where Party B repays the principal on an annual basis, the principal repayment date shall be the interest settlement date every 12 months after the loan is disbursed.

 

3.3 Party B shall pay all interests hereunder on time and in full in accordance with the provisions under Article 1 (Loan) hereof in connection with the interest settlement; if Party B fails to repay the loan as agreed when the loan expires or becomes mature early, Party A has the right to charge penalty interest on the loan principal from the overdue date on the basis of the actual overdue days in accordance with the overdue penalty interest standard agreed herein. If Party B fails to use the loan for the agreed purpose, Party A shall have the right to charge penalty interest on the misappropriated portion of the loan according to the misappropriation penalty interest standard agreed herein from the date on which the loan is used in violation of this contract. Interest that is not paid on time (including loan interest and penalty interest incurred) shall bear the compound interest at the penalty interest rate. Where the loan is both overdue and misappropriated, it shall bear compound penalty interest at the higher rate. For the loan that has been overdue for less than 90 days (inclusive), the principal and interest shall be repaid in the following order: (a) fee; (b) interest (including penalty interest and compound interest); (c) the principal; and for the loan that has been overdue for more than 90 days, the principal and interest shall be repaid in the following order: (a) fee; (b) the principal; and (c) interest (including penalty interest and compound interest).

 

3.4 Party B shall establish an account with Party A and deposit the full amount due and payable into such account before the agreed repayment date; Party B hereby irrevocably authorizes Party A to deduct the principal and interest of the loan and other relevant fees (if any) due from any account established by Party B with all offices of Ping An Bank on its own on the agreed repayment date and/or in any other deduction circumstance agreed herein.

 

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3.5 Party B shall fully repay the principal and interest of the loan and any other fee (if any) hereunder on time. If Party B fails to repay any amount due in full and on time, Party A has the right to declare the early maturity of the loan hereunder and require Party B to repay all the loans immediately, and impose a penalty interest on all the outstanding loans starting from the overdue date.

 

3.6 Prepayment

 

(1) If Party B intends to prepay the loan, it shall submit a written application to Party A 30 days in advance and obtain Party A’s written consent. Unless otherwise agreed by Party A, such written application for prepayment submitted by Party B is irrevocable.

 

(2) Interest on the prepaid loans shall be calculated on the basis of actual days for which Party B has used such loan, and the aforesaid interest shall be paid together with the prepaid principal.

 

(3) If the actual loan term is shortened due to Party B’s voluntary prepayment, the original loan interest rate shall apply without adjustment in the corresponding interest rate bracket.

 

(4)x If Party B makes prepayment, it shall pay compensation to Party A. The compensation shall be paid by Party B to Party A along with the prepaid principal and interest payable thereon. The compensation shall be calculated at the prepayment amount x the number of days in advance for prepayment x the interest rate agreed herein. If the prepayment period is less than 30 days, the compensation shall be calculated on the basis of the actual days, and shall be reduced by 50%. If the prepayment period exceeds 30 days, the compensation shall be calculated on the basis of 30 days only.

 

Article 4 Representation and Warranty of Party B

 

4.1 Party B is a company legally incorporated, validly existing and in good standing within the jurisdiction where it is located. Party B has all the necessary corporate rights and governmental permission and approval to engage in the business it is currently carrying on, and both Party B and its controlling shareholders maintain a good credit standing.

 

4.2 Party B has obtained all the necessary authorizations and approvals for execution of this contract. Execution of this contract by Party B is the expression of its genuine intention and will not result in violation of its articles of association, relevant laws and regulations and/or agreements or commitments entered into by Party B and any third party. Party B did not violate any laws, regulations and rules related to environmental protection, energy conservation, emission reduction and pollution reduction up to the execution of this contract, and promises to strictly comply with such laws, regulations and rules after this contract is executed.

 

4.3 Other than those notified to Party A in writing prior to execution of this contract, Party B does not have any litigation, arbitration, execution, claim, reconsideration and other proceedings or other events or circumstances that may have a material adverse impact on the performance of this contract.

 

4.4 Party B shall, as required by Party A, promptly provide financial statements, numbers of all bank accounts, balances of deposits and loans and other relevant information requested and warrant that the documents and information provided are true, complete and objective and do not contain any false record, misleading statement or material omission. The financial statements are prepared in strict accordance with Chinese accounting standards.

 

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Article 5 Rights and Obligations of Party B

 

5.1 Party B has the right to apply to Party A for disbursing loans under the conditions and terms agreed herein, except that Party A is not permitted to continue to disburse loans under this contract due to changes in national macro-regulation policies, requirements of regulatory authority for Party A to control the credit scale or credit borrowers and/or for any other reason not attributable to Party A.

 

5.2 Party B shall use the loan for the purpose agreed herein and repay all loan principal, interest and other fees (if any) in full and on time.

 

5.3 If Party B establishes an account with Party A, Party A shall have priority in respect to businesses such as deposit, settlement, account and/or financing under the same conditions.

 

5.4 Where Party B is a group customer, it shall report to Party A in writing within ten days from the date of occurrence of any connected transaction accounting for more than 10% of net assets, indicating the related relationship between the parties to the transaction, transaction items and transaction nature, transaction amount or corresponding proportion and pricing policy (including transactions with no amount or only nominal amount). The aforesaid group customer refer to any enterprise and public institution that: (a) directly or indirectly controls, or is controlled by, any other enterprise and public institution in equity or operation; (b) is commonly controlled by any third-party enterprise or public institution; (c) is directly or indirectly controlled by the key investor, key management or their close family members (including three or less generations of lineal relatives and two or less generations of collateral relatives); or (d) has any other related relationship in which assets and profits might not be transferred under the fair price principle, in which case it shall deemed as a group customer for credit management.

 

5.5 Party B shall notify Party A in writing 30 days in advance and obtain Party A’s written consent  before proceeding in any of the following circumstances on the part of Party B (except any circumstance which, in the reasonable judgment of Party A, does not have material impact on the performance of this contract):

 

(1) material changes in the operational system, ownership structure, form of property right organization or principal business, including but not limited to the implementation of contracting, lease operation, associate, shareholding system reform, merger (combination), acquisition, joint venture (cooperation), division, establishment of subsidiary, custody (takeover), sale of enterprise, transfer of property right, or reduction of registered capital;

 

(2) selling, giving, lending, transferring, mortgaging (pledging) or otherwise disposing of assets with a value exceeding 10% of its net assets;

 

(3) dividends exceeding 30% of the net profit after tax of the current year or 20% of all retained profits;

 

(4) additional investment accounting for more than 20% of its net assets after the credit line hereunder takes effect or the loan is disbursed;

 

(5) altering the debt terms with other banks or discharging its long-term debts in advance;

 

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(6) repaying the debt to shareholders or actual controller of Party B;

 

(7) applying to any other bank for credit line, or providing guarantee to any third party, or relieving the debts of any third party, which involves debts exceeding 20% of its net assets.

 

5.6 Party B warrants that it will maintain reasonable financial ratios during the performance of this contract.

 

x Financial indicators shall always comply with the following standards during the performance of the contract:

 

Article 6 Rights and Obligations of Party A

 

6.1 Party A has the right to recover the principal and interest of the debt (including compound interest, and penalty interests on overdue loan and misappropriated loan) in accordance with this contract, collect the fees payable by Party B, and transfer the above principal and interest and fees directly from Party B’s account in accordance with this contract.

 

6.2 For a loan with a term of more than one year (excluding one year), Party A has the right to evaluate operation, financial position and the progress of specific projects of Party B and the guarantor pursuant to the loan conditions agreed herein at the time of loan disbursement, from the second year of loan disbursement, and then to adjust the loan amount, term and interest rate based on the evaluation results.

 

If there is a collateral (pledge), Party A has the right to request for the annual valuation of the collateral (pledge) by a valuation organization approved by Party A. If the value of the collateral (pledge) significantly decreases showing that it is no longer sufficient as security for the debt under the master contract, Party A has the right to require Party B to repay a part of the loan or provide other guarantee measures approved by Party A.

 

6.3 Party A has the right to require Party B to provide information related to the loan, and has the access to the place of business of Party B, in order to investigate, review and inspect the use of credit line and assets, financial position and operation conditions of Party B, for which Party B shall give cooperation; and Party A has the right to supervise Party B using the loan for the purpose agreed herein.

 

6.4 Party A is obliged to keep confidential the information provided by Party B, unless: (a) otherwise stipulated by laws and regulations or otherwise required by a competent authority or regulator; (b) disclosed in any legal or arbitration proceeding; (c) disclosed to the group or branches of Party A; (d) disclosed to a professional consulting organization it engages (including but not limited to lawyer and/or financial adviser); (e) circumstances in which such information is disclosable as otherwise agreed upon by the Parties; or (f) the information provided by Party B does not constitute confidential information.

 

Article 7 Breach

 

7.1 Any of the following events shall constitute breach hereunder on the part of Party B:

 

(1) There is any overdue interest, overdue repayment, advances or other due but unpaid debts in connection with the credit line or loan hereunder, or Party B fails to use the credit line funds for the purpose agreed upon by the Parties;

 

(2) Party B fails to use the loan fund in the agreed manner or evades the requirement of entrusted payment set forth in Article 2 hereof by separating a single payment into several drawdowns /payments with smaller amounts;

 

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(3) Party B violates any of its representation, warranty or undertaking hereunder;

 

(4) Party B violates any of its obligations hereunder;

 

(5) Any information or material provided by Party B for Party A in connection with the execution or performance of this contract is not accurate or complete, conceals the true material information or involves material omission or is misleading;

 

(6) Party B fails to promptly complete the guarantee registration formalities (if necessary) related to this contract as required;

 

(7) Party B or the guarantor evades creditor’s rights of the bank through connected transactions or in any other manner;

 

(8) Party B or the guarantor is negligent in managing and recovering matured debts, or transfers property by disposing of its main property gratuitously or at unreasonably low price and/or in any other inappropriate manner, withdraws the registered capital, or engages in any other conduct to evade debts;

 

(9) Party B obtains funds or credit line from Party A or any other bank by means of the false contract and arrangement with any third party, including but not limited to discounting or pledging claims such as bills receivable with no real trade background;

 

(10) Party B or the guarantor violates any other contract (including but not limited to credit contract, loan contract or guarantee contract) with Party A or any other financial institution (including other branches of Party A) or engages in default under any debt security it issues;

 

(11) Party B’s guarantor violates the guarantee contract (including but not limited to the contract of suretyship, mortgage contract and/or pledge contract) or engages in any event of default thereunder, or the guarantee contract fails to take effect or is invalid or revoked, or the guarantee registration formalities are not completed as required; there is a significant decrease in the value of the collateral, or the collateral extinguishes, or there is a dispute in connection with ownership of the collateral; or the collateral is subject to procedures such as sealing up, detainment, freezing, deduction, retaining or auction;

 

(12) Party B or the guarantor (if any) suffers from serious financial losses, asset losses (including but not limited to asset losses due to its external guarantee) or other financial crises due to deterioration of its operation and financial position; or Party B, or its shareholders or actual controller, guarantor (if any), or the legal representatives or key management thereof are involved in major litigation, arbitration, or case, or is subject to administrative punishment, criminal sanction, or are involved in such administrative and criminal investigation procedures, or their major assets are subject to compulsory measures such as seizure, freezing or property preservation, or undergo any other event that causes them to fail to perform their duties normally; or Party B or the guarantor (if any) provides guarantee for a third party which has a material adverse impact on its financial position or its ability to perform its obligations hereunder; or Party B or the guarantor (if any) suffers from any of split, combination, material merger, acquisition and reorganization, material disposal of asset, registered capital reduction, closure, winding-up, suspension of production, suspension of business for rectification, liquidation, restructuring, non-voluntary revocation, non-voluntary dissolution, bankruptcy or revocation of business license; or Party B’s shareholders or actual controllers change, or any of the events listed in Article 5.5 hereof in connection with which a notice should be given actually occurs without prior consent of Party A, and Party A considers that such event would affect the security of its claims;

 

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(13) The business period of Party B or the guarantor expires within the loan term, and the formalities for extending the business period have not been completed.

 

(14) Any other event or circumstance that may seriously affect Party B’s ability to perform its obligations hereunder occurs.

 

7.2 In case of any of the above events of default, Party A has the right to take one or more of the following measures:

 

(1) to stop or terminate the payment of any amount that has not been paid hereunder;

 

(2) to declare the early maturity of the credit line/loan hereunder, thereby requiring Party B to repay all or part of the principal, interest and fees of the credit immediately. Commencing from the date of occurrence of the events of default, Party A has the right to impose a penalty interest on all the debts under the credit line until Party B pays off all such debts (including but not limited to the principal, interest and the relevant fees). For the avoidance of doubt, the aforesaid fees include but are not limited to all fees incurred by Party A for realizing its creditor’s rights (see Article 7.3 hereof for details).

 

(3) To require Party B to provide new guarantee measures recognized by Party A;

 

(4) To adjust the loan amount, loan term and loan interest rate on the basis of the loan risk, and/or to change the loan payment method to the entrusted payment (if necessary);

 

(5) To directly make deductions from Party B’s account or the account of the relevant guarantor to discharge all or part of Party B’s debts hereunder (including the debts required by Party A to be discharged in advance), without obtaining prior consent of Party B;

 

(6) To exercise relevant guarantee rights, including but not limited to requiring the guarantor to immediately perform the guarantee responsibility, or to realize the guarantee rights by legally disposing of the collateral and/or pledge;

 

(7) To collect and deduct penalty interest hereunder;

 

(8) If Party A claims subrogation against Party B’s debtors or requests the court to revoke Party B’s waiver of its mature claims or gratuitous transfer of property or transfer of property at an obviously unreasonably low price, Party B shall provide all necessary cooperation and assistance as required by Party A, and all expenses incurred by Party A for this shall be borne by Party B;

 

(9) To take other relief actions permitted by laws or agreed herein.

 

7.3 The “fees for realizing the creditor’s rights” hereunder means the reasonable expenses incurred or required by Party A for collection of any debt of Party B hereunder due to Party B’s failure to repay such debt as scheduled, including but not limited to announcement, notarization, service of process, appraisal fee, legal fee, court costs, arbitration fee, travel cost, assessment fee, auction fee, property preservation fee, enforcement fee, and transfer fees. The “fees for realizing the creditor’s rights” of Party A hereunder shall be borne by Party B.

 

Article 8 Notification and Delivery

 

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8.1 Notification and delivery

 

8.1.1 Principle for notification and delivery. Any notice, request or other documents to be sent by a Party hereto to the other Party hereunder shall be sent to such other Party in writing (including e-mail). The initial contact address, telephone, fax, email and contact person (if any) designated by each Party are indicated at the top of this contract.

 

8.1.2 Any communication between the parties hereto under this contract shall be deemed to have been given as follows:

 

(1) if delivered personally, at time of the signing the receipt by the addressee;

 

(2) if transmitted via telex or facsimile, at time of completion of the transmission and receipt of the correct return number or facsimile report;

 

(3) if sent by email, at time of sending the email;

 

(4) if sent by mail, the seventh day after the mail is deposited;

 

However, all notices, requests or other communications sent by Party B to Party A shall be deemed to have been given when such notice, request or communication is actually received by Party A, and for any notice, request or other communication sent to Party A by e-mail, telex or facsimile, the original thereof that is affixed with the common seal shall, within three days after such notice, request or communication is sent, be sent to Party A personally or by mailed for confirmation.

 

8.1.3 The addresses of each Party set forth herein are applicable to the service of various documents such as notice and agreement as well as the relevant documents and legal instruments at time of contract-related dispute, and they are also applicable to the first instance, second instance, retrial and enforcement proceedings after arbitration or civil litigation is initiated in connection with any such dispute.

 

8.1.4 Each Party agrees that it shall fulfill the obligation of notification if it intends to change its address for service, and shall give a written notice of such change within seven business days after such change is made. During the arbitration and civil proceedings, if a Party changes its address for service, it shall fulfill the obligation of notification of such change to the arbitration organization and the court. If a Party fail to fulfill the obligation of notification as mentioned above, its address for service set forth herein shall remain deemed as the valid address for service. If any legal instrument is not actually received by any Party because the address for service of such Party set forth herein is not accurate, such Party fails to promptly notify the other Party and court of any change in its address for service according to the procedures, or such Party or its designated receiver refuses to sign for such legal instrument, the instrument shall be deemed to be given on the date of return if the instrument is delivered by mail, and if the instrument is delivered personally, it shall be deemed to be given on the date on which the delivering person instantly records the information on the service receipt. Where a Party fulfills its obligation of notification of address change, the changed address for service shall be the valid address for service of such Party.

 

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Article 9 Deduction

 

9.1 Party B hereby irrevocably agrees that if Party B owes Party A any due (including in the case of early maturity) but unpaid debt, Party A is entitled to directly deduct all or part of the principal and interest of such debt and/or any other relevant fee owed by Party B to Party A from any account opened by Party B with any and/or all offices of Ping An Bank at any time, and/or to dispose of and realize Party B’s assets maintained in such account to repay the debt Party B owes to Party A; and the interest, exchange rate and/or investment loss arising therefrom shall be borne by Party B.

 

9.2 Party A shall notify Party B in writing after such deduction or disposal or realization, and has the right to continue to claim the insufficient portion (if any) against Party B. If the proceeds of deduction involve multiple creditor’s rights or are insufficient to repay all due debts (including principal, interest and/or fees), unless otherwise specified herein, Party A has the right to determine the specific order in which the proceeds of deduction are used to discharge those creditor’s rights.

 

9.3 If currency conversion is involved in the deduction, the foreign exchange rate announced by Party A at the time of deduction shall prevail.

 

Article 10 Miscellaneous

 

If the exchange rate of the pledged foreign currency against RMB is decreased by 2% or more compared with that on the financing disbursement date, Party B shall, within 2 business days, make up for the difference by paying an amount corresponding to the extent of devaluation, otherwise Party A has the right to deem the pledge to be matured in advance and is entitled to dispose of the pledge.

 

Article 11 Supplementary Provisions

 

11.1 If the credit line hereunder is the credit line under the credit facility contract, the guarantee method thereunder is also applicable.

 

11.2 The term “mature”, “maturity”, “due” or “expiration” mentioned herein includes the ordinary maturity and the early maturity declared by Party A. Unless the context otherwise requires, any reference to “interest” shall be deemed to include normal interest, overdue penalty interest, misappropriation penalty interest and compound interest (if any). Unless otherwise agreed herein, if a date specified herein or the last day of a period specified herein is a statutory holiday, it shall be postponed to the first business day thereafter.

 

11.3 Special agreements on notarization:

 

x The Parties agree to notarize this contract for enforcement.

 

After the Parties cause this contract to be notarized for enforcement, if Party B fails to fulfill or partially fulfills its obligations hereunder, Party A has the right to apply to the original notarization authority for the enforcement certificate, and Party A shall then present the original notary certificate and the enforcement certificate to the people’s court of competent jurisdiction (namely the people’s court of the place where the person or the property against which this contract is enforced is domiciled or located) for enforcement of this contract.

 

þ This contract is not notarized for enforcement.

 

11.4 Within the term of this contract, any indulgence, grace or leniency in exercise of entitlements of Party A hereunder offered by Party A in connection with any default or delay on the part of Party B shall not influence, damage or limit any rights to which Party A is entitled as a creditor under this contract and the relevant laws, and shall neither be considered as Party A’s permission or recognition of any act breaching this contract nor be considered as Party A’s waiver of any right to take actions against current or future breach.

 

13

 

11.5 Evidence of creditor’s rights and other documents.

 

(1) The single credit application, credit contract, loan receipt, credit certificate and other legal documents forming creditor-debtor relationship (including but not limited to all legal documents related to this contract sent by Party A to Party B, payment vouchers formed by the Parties in the process of handling business, monthly statement of accounts, transaction records kept by Party A of Party B’s accounts, various notices sent by Party A to Party B, commitment letters and declarations unilaterally issued by Party B to Party A ) involved herein are all valid parts of this contract and have the same legal effect as this contract.

 

(2) Unless there is evidence to the contrary confirmed by the court, internal accounting records and system records of Party A on principal, interest, fee and repayment records, and documents, payment vouchers, records of bank collection and reminder, vouchers, notices and others issued or retained by Party A in the course of dealing with Party B shall constitute conclusive evidence to effectively prove the creditor-debtor relationship between the Parties. Party B has no objection thereto.

 

(3) So far as the statement of account is concerned, if Party B has any objection to the relevant contents of the business statement provided by Party A, it shall submit such objection within ten days upon receipt of the statement of account; otherwise Party B is deemed to agree upon all the contents listed therein.

 

(4) If the Parties need to supplement agreements with respect to any matter not covered herein, the Parties may either agree that such agreements shall be inserted in Article 10 (Miscellaneous), or enter into a separate written agreement as an annex hereto. Annexes to this contract are an integral part of this contract and have the same legal effect as the body of this contract.

 

11.6 Party B agrees and authorizes Ping An Bank to inquire about basic information and credit information of Party B of the basic database of financial credit information for Party B’s credit business application and subsequent management during the credit business application of Party B and existence of such business. Party B agrees and authorizes Ping An Bank to submit basic information and credit information of Party B, including but not limited to credit information and information that has a negative impact on the credit standing of the information subject, to the basic database of financial credit information in accordance with the Regulations on the Administration of Credit Reporting Industry.

 

11.7 Party B hereby expressly agrees that Party A is entitled to transfer all or part of its rights and obligations hereunder to its branches or affiliates or any third parties during the performance of this contract without repeatedly soliciting Party B’s opinions. For the purpose of transfer, Party A is entitled to reasonably disclose the information about Party B hereunder to the potential transferee in connection with this contract; but without the consent of Party A, Party B shall not transfer any of its rights and/or obligations hereunder.

 

11.8 If any content of this contract is legally invalid or partially invalid for any reason, the validity of other clauses or contents is not affected. If any such circumstance occurs, Party A has the right to terminate this contract and recover all principal and interest and other relevant amounts hereunder from Party B; and Party B shall cooperate with Party A to immediately refund all the loan principal and the amount equivalent to the interest accrued hereunder plus other fees payable hereunder.

 

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11.9 This contract shall be governed by and construed in accordance with the laws of the People’s Republic of China. Any dispute arising from the performance of this contract shall be settled by the Parties through negotiations. If negotiations fail, any such dispute shall be settled according to the following item (2):

 

(1) [***]

 

(2) Bring the dispute to the people’s court of the place where Party A is located.

 

(3) [***]

 

11.10 This contract shall come into force after being signed by the Parties (signed or affixed with seals by the authorized signatory and affixed with common seal of each Party).

 

11.11 The original of this contract is executed in four counterparts, with Party A holding two copies, and þ the guarantor of Party B x and the registration authority holding one copy respectively.

 

Each Party hereto irrevocably acknowledges and declares that it has fully read, understood and confirmed its consent to the content of this contract, and that Party A has provided Party B with necessary explanations and notes on the important and/or bolded clauses therein. Now therefore, the Parties hereby execute this contract as follows:

 

Party A (Seal): Ping An Bank Co., Ltd.

Legal representative (responsible person) or authorized agent (signature):

Zhiqun Yang

Date: March 25, 2020

 

Party B (Seal): OneConnect Smart Technology Co., Ltd. (Shenzhen)

Legal representative (responsible person) or authorized agent (signature):

Wangchun Ye

Date: March 25, 2020

 

15

 

Annex 1

 

Installment Payment Schedule for Loan Principal of Party B

 

Loan Contract Name: Loan Contract

 

Loan Contract Number: PING YIN(SHENZHEN) DAI ZI No. B251202003030001

 

Borrower: OneConnect Smart Technology Co., Ltd. (Shenzhen)

 

	
Number
    	
 
    	
Date of repayment
    	
 
    	
Amount of repayment (in words)
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    

 

16

 

Annex 2

 

Request for Entrusted Payment of Loan

 

Ping An Bank Co., Ltd. Shenzhen Branch:

 

In accordance with the Loan Contract PING YIN(SHENZHEN) DAI ZI No. B251202003030001 entered into by and between the Bank and us, we hereby apply for payment of the funds, and irrecoverably authorize the Bank to pay the loan funds to the transaction counterparty designated by us. The account number for receiving the loan funds is [***]. The specific payment receiver and amount are as follows:

 

	
No.
    	
 
    	
Receiver
    	
 
    	
Amount
    	
 
    	
Account 
   number
    	
 
    	
Beneficiary 
   bank
    	
 
    	
Payment date
    	
 
    	
Specific 
   purpose
    
	
1
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

We will provide evidence such as commercial contract in relation to this request for payment in accordance with the aforesaid contract, and warrant that such evidence is true, legal and valid.

 

	
 
    	
Applicant: 
    	
 
    
	
 
    	
Seal:
    
	
 
    	
Signature of authorized signatory:
    
	
 
    	
 
    
	
(Specimen Seal)
    	
 
    
	
 
    	
(Month)      (Day),     (Year)
    
	
 
    	
 
    
	
Account manager (Signature and comments):
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Head of branch or team (Signature and comments):
    	
 
    

 

Remarks: All spaces in the request, including the application date, are required.

 

17EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
  

NINTH AMENDMENT 
 TO

 CREDIT AGREEMENT 

Dated as of April 27, 2020 

Among 
 PARSLEY ENERGY,
LLC, 
 as Borrower, 

PARSLEY ENERGY, INC., 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Administrative Agent, 

JPMORGAN CHASE BANK, N.A. and 

BMO HARRIS BANK, N.A. 
 as
Syndication Agents, 
 CITIBANK, N.A., CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 

ROYAL BANK OF CANADA and U.S. BANK NATIONAL ASSOCIATION 

as Documentation Agents, 

and 
 The Lenders Party
Thereto 
  
  

WELLS FARGO SECURITIES, LLC 

Sole Lead Arranger and Sole Bookrunner 
  

 
  

 
  

 NINTH AMENDMENT TO CREDIT AGREEMENT 

THIS NINTH AMENDMENT TO CREDIT AGREEMENT (this “Ninth Amendment”) dated as of April 27, 2020, is among Parsley
Energy, LLC, a Delaware limited liability company (the “Borrower”); Parsley Energy, Inc., a Delaware corporation (“PEI”), each of the undersigned guarantors (the “Guarantors”, and together with the
Borrower, the “Obligors”); each of the Lenders party hereto; and Wells Fargo Bank, National Association (in its individual capacity, “Wells Fargo”), as administrative agent for the Lenders (in such capacity,
together with its successors in such capacity, the “Administrative Agent”). 
 R E C I T A L S 

A.    The Borrower, PEI, the Administrative Agent and the Lenders are parties to that certain Credit Agreement dated as of
October 28, 2016 (as amended, modified, supplemented or restated from time to time prior to the date hereof, the “Credit Agreement”), pursuant to which the Lenders have made certain credit available to and on behalf of the
Borrower. 
 B.    The Borrower and the Guarantors are parties to that certain Guarantee and Collateral Agreement, dated
as of October 28, 2016 made by the Borrower and each of the other Grantors party thereto in favor of the Administrative Agent (as amended, modified, supplemented or restated from time to time prior to the date hereof, the “Guaranty
Agreement”). 
 C.    The Borrower has requested and the Administrative Agent and the Lenders party hereto have
agreed to amend the Credit Agreement, subject to the terms and conditions of this Ninth Amendment. 
 D.    NOW,
THEREFORE, to induce the Administrative Agent and the Lenders to enter into this Ninth Amendment and in consideration of the promises 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 used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement, as amended by this Ninth Amendment. Unless otherwise indicated, all section references in this Ninth Amendment refer to sections
of the Credit Agreement. 
 Section 2.    Amendments to Credit Agreement. 

2.1    Amendment to Cover Page. The cover page of the Credit Agreement is hereby amended and restated to read as set
forth on Annex I attached hereto. 
 2.2    Amendment to Introductory Paragraph. The introductory paragraph to
the Credit Agreement is hereby amended and restated to read in its entirety as follows:  
 THIS
CREDIT AGREEMENT dated as of October 28, 2016, is among Parsley Energy, LLC, a limited liability company duly formed and existing under the laws of the state of Delaware (the “Borrower”); each of the Lenders from time to
time party hereto; Wells Fargo Bank, National Association (in its individual 

  
 1 

 
capacity, “Wells Fargo”), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”);
JPMorgan Chase Bank, N.A. and BMO Harris Bank, N.A., as syndication agents for the Lenders (each, in such capacity, together with its successors in such capacity, a “Syndication Agent”); Citibank, N.A., Credit Suisse AG, Cayman
Islands Branch, Royal Bank of Canada and U.S. Bank National Association, as documentation agents for the Lenders (each, in such capacity, together with its successors in such capacity, a “Documentation Agent”). 

2.3    Amendments to Section 1.02. 

(a)    Each of the following definitions is hereby amended and restated in its entirety to read as follows: 

“Aggregate Elected Borrowing Base Commitments” means (a) on the Ninth Amendment
Effective Date, $1,075,000,000, and (b) at any time thereafter, an amount determined in accordance with Section 2.07(h). 

“Agents” means, collectively, the Administrative Agent, each Syndication Agent and each
Documentation Agent; and “Agent” means either the Administrative Agent, any Syndication Agent or Documentation Agent, as the context requires. 

“Agreement” means this Credit Agreement, including any schedules and exhibits hereto, as
amended by the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment, and the Ninth Amendment, and as the same may from time to time be
amended, modified, supplemented or restated. 
 “Alternate Base Rate” means, for any day, a
rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 1⁄2 of
1.0% and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.0%; provided that, for the avoidance of doubt, the Adjusted LIBO Rate
for any day shall be based on the rate as published by the ICE Benchmark Administration Limited, a United Kingdom company (or any successor to or substitute for such service providing rate quotations comparable to such service, as determined by the
Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market), rounded upwards, if necessary, to the next 1/100 of 1% at which dollar deposits of
$5,000,000 with a one month maturity are offered at approximately 11:00 a.m., London time, on such day (or the immediately preceding Business Day if such day is not a Business Day). Any change in the Alternate Base Rate due to a change in the Prime
Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

  
 2 

 “Annual Scheduled Redetermination
Conditions” means, for purposes of determining whether the Borrowing Base shall be redetermined on an annual basis or a semi-annual basis pursuant to Section 2.07(b), as of August 31st of each year, (a) the
Aggregate Elected Borrowing Base Commitments as of such date are less than 60% of the Borrowing Base then in effect and (b) the Consolidated Leverage Ratio is equal to or less than 2.75 to 1.00, as the Consolidated Leverage Ratio is
recomputed using (i) Consolidated Total Net Debt outstanding on August 31 of such year and (ii) EBITDAX for the four fiscal quarters ending on June 30 of such year; provided that if the Borrower has not delivered financial
statements for the fiscal quarter ending June 30th of such year pursuant to Section 8.01(b) and the related Compliance Certificate on or before August 31 of such year, then the condition described in clause (ii) above shall be deemed
not to have been satisfied. 
 “Applicable Margin” means, for any day, with respect to any
ABR 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 Utilization Grid below based upon the Utilization Percentage then in effect: 

 

																					
	 Utilization Grid
	  

						
	 	  	<25%	 	 	325%, but
<50%	 	 	350%, but
<75%	 	 	375%, but
<90%	 	 	390%	 
	 ABR Loans
	  	 	1.00	% 	 	 	1.25	% 	 	 	1.50	% 	 	 	1.75	% 	 	 	2.00	% 
	 Eurodollar Loans
	  	 	2.00	% 	 	 	2.25	% 	 	 	2.50	% 	 	 	2.75	% 	 	 	3.00	% 
	 Commitment Fee Rate
	  	 	0.50	% 	 	 	0.50	% 	 	 	0.50	% 	 	 	0.50	% 	 	 	0.50	% 

 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, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to
Section 8.11(a), then, if so elected by the Majority Lenders, the “Applicable Margin” means the rate per annum set forth on the grid when the Utilization Percentage is at its highest level. 

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

“Bail-In Legislation” means (a) 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, regulation rule or requirement for such EEA Member Country from time to time which is
described 

  
 3 

 
in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time
to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation,
administration or other insolvency proceedings). 
 “Consolidated Leverage Ratio” means, as
at the last day of any relevant period, the ratio of (a) Consolidated Total Net Debt on such day to (b) EBITDAX for such period. 

“Consolidated Total Debt” means, at any date, all Debt of the Borrower and the Consolidated
Restricted Subsidiaries on a consolidated basis, excluding any Debt of the type described in clauses (b) (to the extent such Debt has not been drawn or funded), (c), (h), (i), (j), (k) and (m) and any
non-cash obligations under FASB ASC 815. 
 “Interest
Period” means, as to each Eurodollar Borrowing, the period commencing on the date such Borrowing is disbursed or converted to or continued as a Eurodollar Borrowing and ending on the date (a) seven days thereafter, (b) one, two,
three or six months thereafter, or (c) upon consent of all Lenders, twelve months thereafter, in any case as selected by the Borrower in its Borrowing Request or Interest Election Request, as applicable; provided that: (i) any Interest
Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding
Business Day; (ii) except in the case of any Interest Period of less than one months’ duration, any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day
in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and (iii) no Interest Period shall extend beyond the Maturity Date. 

“LC Commitment” at any time means Sixty Million dollars ($60,000,000). 

“LIBO Rate” means, subject to the implementation of a Benchmark Replacement in accordance
with Section 3.03(b), with respect to any Eurodollar Borrowing for any Interest Period, the rate as published by the ICE Benchmark Administration Limited, a United Kingdom company (or any successor to or substitute for such
service providing rate quotations comparable to such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time
for any reason, then the “LIBO Rate” with respect to such Eurodollar Borrowing for such Interest Period shall be the rate (rounded upwards, 

  
 4 

 
if necessary, to the next 1/100 of 1%) at which dollar deposits of an amount comparable to such Eurodollar Borrowing and for a maturity comparable to such Interest Period are offered by the
principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period. Notwithstanding the
foregoing, if the LIBO Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. Unless otherwise specified in any amendment to this Agreement entered into in accordance with
Section 3.03(b), in the event that a Benchmark Replacement with respect to the LIBO Rate is implemented, then all references herein to the LIBO Rate shall be deemed references to such Benchmark Replacement. 

“Material Indebtedness” means Debt (other than the Loans and Letters of Credit), or obligations in respect of
one or more Swap Agreements, of any one or more of the Loan Parties in an aggregate principal amount exceeding $100,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations of any Loan Party in
respect of any Swap Agreement at any time shall be the Swap Termination Value of such Swap Agreement. 
 “Maturity
Date” means October 28, 2023. 
 “Write-Down and Conversion Powers” means,
(a) 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, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under
the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of
that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that
liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers. 

(b)    The following definitions are hereby added where alphabetically appropriate to read as follows: 

“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any
UK Financial Institution. 
 “Benchmark Replacement” means the sum of:
(a) the alternate benchmark rate (which may include Term SOFR) that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for
determining such a rate by the Relevant Governmental Body and/or (ii) any evolving or then-prevailing 

  
 5 

 
market convention for determining a rate of interest as a replacement to the LIBO Rate for U.S. dollar-denominated syndicated credit facilities and (b) the Benchmark Replacement Adjustment;
provided that, if the Benchmark Replacement as so determined would be less than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement. 

“Benchmark Replacement Adjustment” means, with respect to any replacement of the LIBO Rate
with an Unadjusted Benchmark Replacement for each applicable Interest Period, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the
Administrative Agent and the Borrower giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the LIBO Rate with the
applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body and/or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for
the replacement of the LIBO Rate with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated syndicated credit facilities at such time. 

“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement,
any technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest
and other administrative matters) that the Administrative Agent decides in good faith may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in
a manner substantially consistent with market practice (or, if the Administrative Agent decides in good faith that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines in good
faith that no market practice for the administration of the Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides in good faith is reasonably necessary in connection with the administration of this
Agreement). 
 “Benchmark Replacement Date” means the earlier to occur of the following
events with respect to the LIBO Rate: 
 (a) in the case of clause (a) or (b) of the definition of
“Benchmark Transition Event,” the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of the LIBO Rate permanently or indefinitely ceases to
provide the LIBO Rate; and 
 (b) in the case of clause (c) of the definition of “Benchmark
Transition Event,” the date of the public statement or publication of information referenced therein. 

  
 6 

 “Benchmark Transition Event” means the
occurrence of one or more of the following events with respect to the LIBO Rate: 
 (a) a public statement
or publication of information by or on behalf of the administrator of the LIBO Rate announcing that such administrator has ceased or will cease to provide the LIBO Rate, permanently or indefinitely; provided that, at the time of such statement or
publication, there is no successor administrator that will continue to provide the LIBO Rate; 
 (b) a
public statement or publication of information by the regulatory supervisor for the administrator of the LIBO Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the LIBO Rate, a resolution
authority with jurisdiction over the administrator for the LIBO Rate or a court or an entity with similar insolvency or resolution authority over the administrator for the LIBO Rate, which states that the administrator of the LIBO Rate has ceased or
will cease to provide the LIBO Rate permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBO Rate; or 

(c) a public statement or publication of information by the regulatory supervisor for the administrator of the
LIBO Rate announcing that the LIBO Rate is no longer representative. 
 “Benchmark Transition Start
Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a
prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date
of such statement or publication) and (b) in the case of an Early Opt-in Election, the date specified by the Administrative Agent or the Majority Lenders, as applicable, by notice to the Borrower, the
Administrative Agent (in the case of such notice by the Majority Lenders) and the Lenders. 

“Benchmark Unavailability Period” means, if a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred with respect to the LIBO Rate and solely to the extent that the LIBO Rate has not been replaced with a Benchmark Replacement, the period (a) beginning at the time that such Benchmark Replacement Date has
occurred if, at such time, no Benchmark Replacement has replaced the LIBO Rate for all purposes hereunder in accordance with Section 3.03(b) and (b) ending at the time that a Benchmark Replacement has replaced the LIBO
Rate for all purposes hereunder pursuant to Section 3.03(b). 

“Consolidated Cash Balance” means, at any time, the aggregate amount of cash and Cash
Equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case, held or owned by (whether directly or indirectly), credited to the

  
 7 

 
account of, or otherwise reflected as an asset on the balance sheet of, the Borrower and its Restricted Subsidiaries (other than (i) any cash set aside to pay in the ordinary course of
business amounts of the Borrower and its Restricted Subsidiaries then due and owing to unaffiliated third parties (including, for the avoidance of doubt, to pay royalty obligations, working interest obligations, production payments and severance
taxes) and for which the Borrower or such Restricted Subsidiary, as applicable, has issued checks or has initiated wires or ACH transfers in order to pay (or will issue checks or initiate wires or ACH transfers in order to pay such amounts within
five (5) Business Days), (ii) any amounts held as cash collateral as required pursuant to Section 2.08(j), (iii) any cash in Excluded Accounts (solely with respect to amounts referred to in the definition thereof) and (iv) cash of the
Borrower or any Restricted Subsidiary to be used by the Borrower or any Restricted Subsidiary within three (3) Business Days to pay the purchase price for any acquisition of any assets or property permitted hereunder by the Borrower or any
Restricted Subsidiary pursuant to a binding and enforceable purchase and sale agreement with an unaffiliated third party containing customary provisions regarding the payment and refunding of such purchase price. 

“Consolidated Cash Balance Threshold” means $150,000,000. 

“Consolidated Total Net Debt” means, at any date, Consolidated Total Debt minus
(a) if there are no Loans or unreimbursed LC Disbursements outstanding as of such date, the amount of Unrestricted Cash of the Borrower and the Consolidated Restricted Subsidiaries as of such date that is held in accounts subject to a Control
Agreement or (b) if there are any Loans or unreimbursed LC Disbursements outstanding as of such date, the amount of Unrestricted Cash of the Borrower and the Consolidated Restricted Subsidiaries as of such date that is held in accounts subject
to a Control Agreement up to $150,000,000 in the aggregate. 
 “Early
Opt-in Election” means the occurrence of: 
 (a) (i) a
determination by the Administrative Agent or (ii) a notification by the Majority Lenders to the Administrative Agent (with a copy to the Borrower) that the Majority Lenders have determined that U.S. dollar-denominated syndicated credit
facilities being executed at such time, or that include language similar to that contained in Section 3.03(b) are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace
the LIBO Rate, and 
 (b) (i) the election by the Administrative Agent or (ii) the election by the
Majority Lenders to declare that an Early Opt-in Election has occurred and the provision, as applicable, by the Administrative Agent of written notice of such election to the Borrower and the Lenders or by the
Majority Lenders of written notice of such election to the Administrative Agent. 
 “Excluded
Account” means (a) (i) any Deposit Account, Securities Account or Commodity Account that has a daily balance of less than $500,000 individually and (ii) any Deposit Accounts, Securities Accounts and Commodity Accounts that

  
 8 

 
have, in the aggregate, a daily balance of less than $1,000,000, (b) any Deposit Account that is used exclusively for (and the balance of which consists solely of funds set aside in
connection with) payroll, payroll taxes, and employee wage and benefit payments to or for the benefit of any Loan Parties’ employees, (c) any Deposit Account that consists exclusively of royalty suspense amounts due and owing to
unaffiliated third parties in connection with the Loan Parties’ royalty payment obligations owing to such third parties, and (d) fiduciary, trust or escrow Deposit Accounts that are contractually obligated to be segregated from the other
assets of any Loan Party for the benefit of unaffiliated third parties for a purpose not prohibited under this Agreement (including, for the avoidance of doubt, in connection with permitted acquisitions and Dispositions hereunder). 

“Federal Reserve Bank of New York’s Website” means the website of the Federal Reserve
Bank of New York at http://www.newyorkfed.org, or any successor source or website. 
 “Ninth
Amendment” means that certain Ninth Amendment to Credit Agreement, dated as of April 27, 2020, among the Borrower, PEI, the Guarantors, the Administrative Agent and the Lenders party thereto. 

“Ninth Amendment Effective Date” has the meaning assigned to such term in the Ninth
Amendment. 
 “PV-9 Value” means, at any date of
determination, with respect to any proved Oil and Gas Properties of the Borrower and its Restricted Subsidiaries, the net present value, discounted at 9% per annum, of the future net cash flows expected to accrue to the Borrower’s and its
Restricted Subsidiaries’ collective interests in such reserves during the remaining expected economic lives of such reserves, as set forth in the most recently delivered Reserve Report hereunder. 

“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank
of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto. 

“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial
Institution, a UK Resolution Authority. 
 “Secured Debt” means, at any date, Consolidated
Total Debt that is secured by a Lien on any Property of the Borrower or any Consolidated Restricted Subsidiary (including, without limitation, the total Revolving Credit Exposures of all Lenders as of such date). 

“Secured Leverage Ratio” means, as at the last day of any relevant period, the ratio of
(a) Secured Debt on such day to (b) EBITDAX for such period. 
 “SOFR” with
respect to any day shall mean the secured overnight financing rate published for such day by the Federal Reserve Bank of New York (or successor administrator), as the administrator of the benchmark, on the Federal Reserve Bank of New York’s
Website. 

  
 9 

 “Term SOFR” means the forward-looking term
rate based on SOFR that has been selected or recommended by the Relevant Governmental Body. 
 “UK
Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of
the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

 “UK Resolution Authority” means the Bank of England or any other public administrative
authority having responsibility for the resolution of any UK Financial Institution. 
 “Unadjusted
Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment. 

“Utilization Percentage” means (a) as of any day when the Aggregate Elected Borrowing
Base Commitments are equal to or less than 75% of the Borrowing Base then in effect, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which
is the Borrowing Base in effect on such day; and (b) as of any day when the Aggregate Elected Borrowing Base Commitments are greater than 75% of the Borrowing Base then in effect, the fraction expressed as a percentage, the numerator of which
is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Aggregate Elected Borrowing Base Commitments in effect on such day. 

(c)    The following definitions are hereby deleted in their entirety: “Borrowing Base Utilization Percentage”,
“Reverse 1031 Exchange”, “Section 1031 Counterparty” and “Section 1031 Pledged Note”. 

(d)    The definition of “Excepted Liens” is hereby amended to delete the following phrase in its entirety:
“; provided that at no time shall such sums being contested exceed in the aggregate $20,000,000”. 

2.4    Amendment to Article I. Article I is hereby amended by adding a new Section 1.09 to read as follows:

 Section 1.09    Rates. The Administrative Agent does not warrant or
accept responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the rates in the definition of “LIBO Rate” or clause (c) of the definition of “Alternate
Base Rate” or with 

  
 10 

 
respect to any rate that is an alternative or replacement for or successor to any such rate (including, without limitation, any Benchmark Replacement) or the effect of any of the foregoing, or of
any Benchmark Replacement Conforming Changes. 
 2.5    Amendments to Section 2.03.
Section 2.03 is hereby amended as follows: 
 (a)    Clause (v) therein is hereby amended by deleting
“and” from the end thereof. 
 (b)    Clause (vi) therein is hereby renumbered to be clause (vii). 

(c)    A new clause (vi) is hereby inserted immediately following clause (v) therein to read as follows: 

(vi)    if the Aggregate Elected Borrowing Base Commitments at such time are greater than
75% of the Borrowing Base then in effect, the Consolidated Cash Balance (without regard to the requested Borrowing) and the pro forma Consolidated Cash Balance (giving effect to the requested Borrowing); and 

(d)    The second to the last sentence of Section 2.03 is hereby amended and restated in its entirety to read as
follows: 
 Each Borrowing Request shall constitute a representation (a) that the amount of the
requested Borrowing shall not cause the total Revolving Credit Exposures to exceed the total Commitments (i.e., the lesser of (x) the Aggregate Maximum Credit Amounts and (y) the lesser of (i) the then effective Borrowing Base
and (ii) the then effective Aggregate Elected Borrowing Base Commitments); and (b) if the Aggregate Elected Borrowing Base Commitments at such time are greater than 75% of the Borrowing Base then in effect, that the Consolidated Cash
Balance after giving pro forma effect to the requested Borrowing shall not exceed the Consolidated Cash Balance Threshold. 

2.6    Amendment to Section 2.07(a). Section 2.07(a) is hereby amended and restated in its
entirety to read as follows: 
 (a)    Ninth Amendment Borrowing Base. For the
period from and including the Ninth Amendment Effective Date to but excluding the first Redetermination Date to occur thereafter, the amount of the Borrowing Base shall be $2,700,000,000. Notwithstanding the foregoing, the Borrowing Base may be
subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f), Section 2.07(g), or Section 8.12(c). 

2.7    Amendment to Section 2.07(b). Section 2.07(b) is hereby amended and restated in its
entirety to read as follows: 
 (b)    Scheduled and Interim Redeterminations.
The Borrowing Base shall be redetermined (i) annually, for any calendar year, commencing with calendar year 2021, if the Annual Scheduled Redetermination Conditions have been satisfied on August 31st of such year (an “Annual Scheduled
 

  
 11 

 
Redetermination”), or (ii) semi-annually (A) during calendar year 2020 and (B) for any year (other than calendar year 2020), if the Annual Scheduled Redetermination
Conditions have not been satisfied on August 31st of such year or if, notwithstanding clause (i) above, the Borrower elects to redetermine the Borrowing Base on a semi-annual basis by written notice to the Administrative Agent no later than
August 31st of such year (a “Semi-Annual Scheduled Redetermination”) (such Semi-Annual Scheduled Redeterminations to continue until the Borrower notifies the Administrative Agent that it wishes to revert to Annual Scheduled
Redeterminations as provided in clause (i) above) in accordance with this Section 2.07 (each, a “Scheduled Redetermination”), and, subject to Section 2.07(d), such
redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative Agent, the Issuing Bank and the Lenders, in the case of an Annual Scheduled Redetermination, on April 15th of such year, and in the case of a
Semi-Annual Scheduled Redetermination, on April 15th and October 15th of such year. In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Required Lenders, by
notifying the Borrower thereof, one time between Scheduled Redeterminations, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations, and the Borrower may elect, by notifying the Administrative Agent of any
acquisition of Oil and Gas Properties by the Borrower or its Restricted Subsidiaries with a purchase price in the aggregate of at least five percent (5%) of the then effective Borrowing Base, to cause the Borrowing Base to be redetermined between
Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07. 

2.8    Amendment to Section 3.03. Section 3.03 is hereby amended and restated in its
entirety to read as follows: 
 Section 3.03    Alternate Rate of Interest.
(a)    Unless and until a Benchmark Replacement is implemented in accordance with Section 3.03(b) below, if prior to the commencement of any Interest Period for a Eurodollar Borrowing: 

(i)     the Administrative Agent determines (which determination shall be conclusive absent manifest error)
that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate for such Interest Period; or 

(ii)    the Administrative Agent is advised by the Majority Lenders that the Adjusted LIBO Rate or LIBO
Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period; 

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone, facsimile or electronic
communication as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no 

  
 12 

 
longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and
(ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made, as an ABR Borrowing. 

(b)    Effect of Benchmark Transition Event. 

(i)     Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Loan
Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace the LIBO Rate with a
Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted
such proposed amendment to all Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment with respect
to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such
amendment. No replacement of the LIBO Rate with a Benchmark Replacement pursuant to this Section 3.03(b) will occur prior to the applicable Benchmark Transition Start Date. 

(ii)    Benchmark Replacement Conforming Changes. In connection with the implementation of a
Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing
such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement. 

(iii)    Notices; Standards for Decisions and Determinations. The Administrative Agent will promptly
notify the Borrower and the Lenders of (A) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition
Start Date, (B) the implementation of any Benchmark Replacement, (C) the effectiveness of any Benchmark Replacement Conforming Changes and (D) the commencement or conclusion of any Benchmark Unavailability Period. Any determination,
decision or election that may be made by the Administrative Agent or Lenders pursuant to this Section 3.03(b), including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and
without consent from any other party hereto, except, in each case, as expressly required pursuant to this Section 3.03(b). 

  
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 (iv)    Benchmark Unavailability Period. Upon the
Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Eurodollar Loan, conversion to or continuation of Eurodollar Loans to be made, converted or continued during any
Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to ABR Loans. During any Benchmark Unavailability Period, the component of the
Alternate Base Rate based upon the LIBO Rate will not be used in any determination of the Alternate Base Rate. 

2.9    Amendment to Section 3.04(c). Section 3.04(c) is hereby amended by adding a new
clause (vii) to the end thereof to read as follows: 
 (vii)    Consolidated
Cash Balance. If, on the last Business Day of any week (or, if a Default, Event of Default or Borrowing Base Deficiency has occurred and is continuing, on any Business Day), (A) the Aggregate Elected Borrowing Base Commitments are greater than
75% of the Borrowing Base then in effect, (B) there are any outstanding Borrowings and (C) the Consolidated Cash Balance exceeds the Consolidated Cash Balance Threshold (the amount of such excess, “Excess Cash”) as of the
end of such Business Day, then the Borrower shall, within three (3) Business Days thereof, prepay the Borrowings in an aggregate principal amount equal to the Excess Cash; provided that all payments required to be made pursuant to this
Section 3.04(c)(vii) must be made on or prior to the Termination Date. The provisions of Section 3.04(c)(v) and Section 3.04(c)(vi) shall apply, mutatis
mutandis, to any prepayment required pursuant to this Section 3.04(c)(vii). 

2.10    Amendments to Section 6.02. Section 6.02 is hereby amended as follows: 

(a)    A new subsection (e) is hereby inserted immediately following subsection (d) to read as follows: 

(e)    If the Aggregate Elected Borrowing Base Commitments are greater than 75% of the
Borrowing Base then in effect, then, at the time of and immediately after giving effect to such Borrowing, the Consolidated Cash Balance shall not exceed the Consolidated Cash Balance Threshold. 

(b)    The phrase “Section 6.02(a) through (c)” therein is replaced with the
phrase “Section 6.02(a) through (c) and (e)”. 

2.11    Amendment to Section 7.14. Section 7.14 is hereby amended by amending and restating
the last sentence to read as follows: 
 As of the Ninth Amendment Effective Date, each Subsidiary listed on
Schedule 7.14 is a Restricted Subsidiary unless specifically designated as an Unrestricted Subsidiary therein. 

  
 14 

 2.12    Amendments to Section 7.25.
Section 7.25 is hereby amended by replacing the reference to “Effective Date” therein with the phrase “Ninth Amendment Effective Date”. 

2.13    Amendment to Article VII. Article VII is hereby amended by adding a new Section 7.26 to the end
thereof to read as follows. 
 Section 7.26    Affected Financial Institution. No Loan Party is an Affected
Financial Institution. 
 2.14    Amendments to Section 8.01(l)(i). Section 8.01(l)(i) is
hereby amended by replacing the phrase “at least three (3) Business Days prior written notice of such Disposition” therein with the phrase “written notice on the date of or prior to such Disposition”. 

2.15    Amendment to Section 8.09(b). Section 8.09(b) is hereby amended by replacing the
reference to “$5,000,000” therein with “$25,000,000”. 
 2.16    Amendment to
Section 8.11(c). Section 8.11(c) is hereby amended by (a) replacing “,” with “and” immediately following clause (iii) thereof, (b) deleting clauses (iv) and (vi) in their entirety, and
(c) renumbering clause (v) to be clause (iv). 
 2.17    Amendment to Section 8.12.
Section 8.12 is hereby amended by deleting each instance of the phrase “(and on at least 80% of the total value of the proved, developed and producing reserves)” wherever it appears therein. 

2.18    Amendments to Section 8.13. Section 8.13 is hereby amended as follows: 

(a)    Deleting (i) the phrase “(and on at least 85% of the total value of the proved, developed and
producing reserves)” wherever it appears therein and (ii) the phrase “(and at least 85% of the total value of the proved, developed and producing reserves)” wherever it appears therein. 

(b)    Section 8.13(b) is hereby amended and restated in its entirety to read as follows: 

(b)    The Borrower shall promptly, but in any event no later than 15 days (or such later
date as is reasonably acceptable to the Administrative Agent) after the formation or acquisition (or other similar event) of a Restricted Subsidiary, cause each of its Restricted Subsidiaries (other than Aviation Trust) to guarantee the Obligations
pursuant to the Guaranty Agreement. In connection with any such guaranty, the Borrower shall, or shall cause its Restricted Subsidiaries to, no later than 15 days (or such later date as is reasonably acceptable to the Administrative Agent) after the
formation or acquisition (or other similar event, including upon the designation of an Unrestricted Subsidiary as a Restricted Subsidiary) of any Restricted Subsidiary to, (i) execute and deliver a supplement to the Guaranty Agreement executed
by such Restricted Subsidiary (other than Aviation Trust), (ii) pledge all of the Equity Interests issued by such Restricted Subsidiary (including, without limitation, delivery of original stock certificates evidencing the Equity Interests issued by
such Restricted Subsidiary, together with an appropriate undated 

  
 15 

 
stock powers for each certificate duly executed in blank by the registered owner thereof) and (iii) execute and deliver such other additional closing documents, certificates and legal
opinions as shall reasonably be requested by the Administrative Agent. Notwithstanding the foregoing, each of JPLLC and SWLLC shall not be required to become a Guarantor hereunder concurrently with the Jagged Peak Merger; provided however that the
Borrower shall cause each of JPLLC and SWLLC to become a Guarantor as set forth in Section 4.2 of the Eighth Amendment. 

2.19    Amendments to Section 8.16. Section 8.16 is hereby amended by (i) adding the
phrase “(other than amounts described in the definition of “Excluded Accounts” which are deposited into Excluded Accounts)” immediately after the first reference to “Control Agreement” therein; (ii) adding the
phrase “(other than securities and financial assets described in the definition of “Excluded Accounts” which are deposited into Excluded Accounts)” immediately after the second reference to “Control Agreement” therein;
and (iii) adding the phrase “(other than Commodity Contracts described in the definition of “Excluded Accounts” which are deposited into Excluded Accounts)” immediately after the third reference to “Control
Agreement” therein. 
 2.20    Amendment to Section 8.17. Section 8.17 is hereby
amended and restated in its entirety to read as follows: 

Section 8.17    Consolidated Cash Balance Information. At any time when the
Aggregate Elected Borrowing Base Commitments are greater than 75% of the Borrowing Base then in effect, (a) upon the reasonable request of the Administrative Agent, on such date (or if such date is not a Business Day, then on the Business Day
next succeeding such request), and (b) on the last Business Day of any week (or, if a Default, Event of Default or Borrowing Base Deficiency has occurred and is continuing, on any Business Day), to the extent the Consolidated Cash Balance
exceeds the Consolidated Cash Balance Threshold on such date, the Borrower shall provide to the Administrative Agent (i) a certificate of a Financial Officer in substantially the form of Exhibit I, certifying as to the amount of the
Consolidated Cash Balance and the amount of Excess Cash, if any, as of such date, and (ii) attaching thereto, summary and balance statements, in a form reasonably acceptable to the Administrative Agent, for each Deposit Account, Securities
Account, Commodity Account, or other account in which any Consolidated Cash Balance is held, credited or carried. 

2.21    Amendment to Section 9.01. Section 9.01 is hereby amended by adding a new
subsection (c) at the end thereof to read as follows: 
 (c)    Secured Leverage
Ratio. The Borrower will not permit, as of the last day of any fiscal quarter of the Borrower, the Secured Leverage Ratio for the period of four consecutive fiscal quarters ending on such day, to exceed 2.50 to 1.00. 

2.22    Amendments to Section 9.02. Section 9.02 is hereby amended as follows: 

(a)    Section 9.02(b) is hereby amended by replacing the reference to “$10,000,000” therein with
“$20,000,000”. 

  
 16 

 (b)    Section 9.02(f) is hereby amended by replacing the reference to
“Consolidated Total Debt” therein with “Consolidated Total Net Debt”. 
 2.23    Amendments to
Section 9.04. 
 (a)    Section 9.04(a)(v) is hereby amended and restated in its entirety to read
as follows: 
 (v) the Borrower may make Restricted Payments in cash, so long as both before and immediately
after giving effect to such Restricted Payment (A) no Default or Event of Default has occurred and is continuing or would result therefrom and (B) (1) if the Aggregate Elected Borrowing Base Commitments are equal to or less than 50% of the
Borrowing Base then in effect, both (x) the total Revolving Credit Exposures does not exceed 75% of the total Commitments then in effect and (y) the Consolidated Leverage Ratio is equal to or less than 3.00 to 1.00, as the Consolidated
Leverage Ratio is recomputed on such date using (I) Consolidated Total Net Debt outstanding on such date and (II) EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding such date for which
financial statements are available; or (2) if the Aggregate Elected Borrowing Base Commitments are greater than 50% of the Borrowing Base then in effect, both (x) the total Revolving Credit Exposures does not exceed 80% of the total
Commitments then in effect and (y) the Consolidated Leverage Ratio is equal to or less than 2.75 to 1.00, as the Consolidated Leverage Ratio is recomputed on such date using (I) Consolidated Total Net Debt outstanding on such date and
(II) EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding such date for which financial statements are available. 

(b)    Section 9.04(b)(a)(ii) is hereby amended and restated in its entirety to read as follows: 

(ii) so long as, both before and immediately after giving effect to such prepayment, (A) if the Aggregate
Elected Borrowing Base Commitments are equal to or less than 50% of the Borrowing Base then in effect, both (1) the total Revolving Credit Exposures does not exceed 75% of the total Commitments then in effect and (2) the Consolidated
Leverage Ratio is equal to or less than 3.00 to 1.00, as the Consolidated Leverage Ratio is recomputed on such date using (I) Consolidated Total Net Debt outstanding on such date and (II) EBITDAX for the four fiscal quarters ending on the
last day of the fiscal quarter immediately preceding such date for which financial statements are available; or (B) if the Aggregate Elected Borrowing Base Commitments are greater than 50% of the Borrowing Base then in effect, both (1) the
total Revolving Credit Exposures does not exceed 80% of the total Commitments then in effect and (2) the Consolidated Leverage Ratio is equal to or less than 2.75 to 1.00, as the Consolidated Leverage Ratio is recomputed on such date using
(I) Consolidated Total Net Debt outstanding 

  
 17 

 
on such date and (II) EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding such date for which financial statements are available. 

2.24    Amendments to Section 9.05. Section 9.05 is hereby amended as follows: 

(a)    Section 9.05(k) is hereby amended and restated in its entirety to read as follows: 

(k)    other Investments, so long as both immediately before and immediately after giving
effect to such Investment (A) no Default or Event of Default has occurred and is continuing or would result therefrom and (B) (1) if the Aggregate Elected Borrowing Base Commitments are equal to or less than 50% of the Borrowing Base then
in effect, both (x) the total Revolving Credit Exposures does not exceed 75% of the total Commitments then in effect and (y) the Consolidated Leverage Ratio is equal to or less than 3.00 to 1.00, as the Consolidated Leverage Ratio is
recomputed on such date using (I) Consolidated Total Net Debt outstanding on such date and (II) EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding such date for which financial
statements are available; or (2) if the Aggregate Elected Borrowing Base Commitments are greater than 50% of the Borrowing Base then in effect, both (x) the total Revolving Credit Exposures does not exceed 80% of the total Commitments then
in effect and (y) the Consolidated Leverage Ratio is equal to or less than 2.75 to 1.00, as the Consolidated Leverage Ratio is recomputed on such date using (I) Consolidated Total Net Debt outstanding on such date and (II) EBITDAX for
the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding such date for which financial statements are available. 

(b)    Section 9.05(l), Section 9.05(m) and Section 9.05(n) are each hereby deleted in its entirety. 

2.25    Amendment to Section 9.06. Section 9.06 is hereby amended by replacing the phrase
“except for the development, production and sale of Hydrocarbons and other businesses conducted by the Borrower and the Restricted Subsidiaries on the Effective Date” with the following phrase: “except for (i) the development,
production and sale of Hydrocarbons, (ii) the development and operation of, and businesses related to, the Qualified Midstream Assets, and/or (iii) other businesses conducted by the Borrower and the Restricted Subsidiaries on the Ninth
Amendment Effective Date”. 
 2.26    Amendments to Section 9.12. Section 9.12 is
hereby amended as follows: 
 (a)    Section 9.12 is hereby amended by replacing each reference to “Consolidated
Total Debt” wherever it appears therein with a reference to “Consolidated Total Net Debt”. 

(b)    Section 9.12(d)(i)(B)(2) is hereby amended and restated to read as follows: 

(2) if, after giving effect to any such Disposition pursuant to this Section 9.12(d)(i)(B), the aggregate
PV-9 Value of all Oil and Gas Properties Disposed of pursuant to this Section 9.12(d)(i)(B) since the most recent Scheduled 

  
 18 

 
Redetermination Date exceeds $40,000,000, the Administrative Agent shall have provided its prior written consent to such Disposition (such consent not to be unreasonably withheld, conditioned or
delayed), and 
 (c)    Section 9.12(e) is hereby amended by replacing the reference to “10%” therein with
“20%”. 
 (d)    Section 9.12(j) is hereby amended by replacing the reference to “Effective Date”
therein with the phrase “Ninth Amendment Effective Date”. 
 2.27    Amendment to
Section 9.19. Section 9.19 is hereby amended by (a) inserting “(other than Excluded Accounts)” immediately after the reference in the first sentence to “Securities Account” and (b) inserting
“(other than Excluded Accounts, solely with respect to amounts referred to in the definition thereof)” immediately after the reference in the second sentence to “Commodity Account”. 

2.28    Amendments to Section 10.01. Section 10.01 is hereby amended as follows: 

(a)    Section 10.01(d) is hereby amended by replacing the reference therein to “Section 8.14,
Section 8.18(b) or (c)” with “Section 8.14, Section 8.16, Section 8.17, Section 8.18(b) or (c)”. 

(b)    Section 10.01(k) is hereby amended by replacing the reference to “$50,000,000” therein with
“$100,000,000”. 
 (c)    Section 10.01(l) is hereby amended by replacing the reference to
“$5,000,000” therein with “$10,000,000”. 
 2.29    Amendment to
Section 11.12. Section 11.12 is hereby amended and restated in its entirety to read as follows: 

Section 11.12    The Agents. None of the Arranger, the Syndication Agents or
the Documentation Agents shall have any duties, responsibilities or liabilities under this Agreement and the other Loan Documents other than its duties, responsibilities and liabilities, as applicable, in its capacity as a Lender hereunder. 

2.30    Amendment to Section 12.02(b). The last sentence of Section 12.02(b) is hereby
amended and restated in its entirety to read as follows: “Notwithstanding the foregoing, (A) any supplement permitted to be made to any Schedule hereto shall be effective simply by delivering to the Administrative Agent a supplemental
schedule clearly marked as such and, upon receipt, the Administrative Agent will promptly deliver a copy thereof to the Lenders, (B) any Security Instrument may be supplemented to add additional collateral with the consent of the Administrative
Agent, (C) the Borrower and the Administrative Agent may amend this Agreement or any other Loan Document without the consent of the Lenders in order to correct, amend or cure any ambiguity, inconsistency or defect or correct any typographical
error or other manifest error in any Loan Document or to add any Subsidiary as a party thereto and (D) the Administrative Agent and the Borrower may, without the consent of any Lender, enter into amendments or

  
 19 

 
modifications to this Agreement or any of the other Loan Documents or to enter into additional Loan Documents as the Administrative Agent reasonably deems appropriate in order to implement any
Benchmark Replacement or any Benchmark Replacement Conforming Change or otherwise effectuate the terms of Section 3.03(b) in accordance with the terms of Section 3.03(b).” 

2.31    Amendment to Section 12.04(b)(ii). Section 12.04(b)(ii) is hereby amended by
relettering the third and fourth subsections thereof as “(C)” and “(D)”, respectively. 

2.32    Amendment to Section 12.19. Section 12.19 is hereby amended by replacing
(a) each reference to “EEA Financial Institution” therein with the term “Affected Financial Institution” and (b) each reference to “an EEA Resolution Authority” and “any EEA Resolution Authority”
therein with the phrase “the applicable Resolution Authority”. 
 2.33    Amendment to Annexes, Exhibits
and Schedules. 
 (a)    The Credit Agreement is hereby amended by adding a new Exhibit I thereto to read as set
forth on Exhibit I to this Ninth Amendment. 
 (b)    The Table of Contents to the Credit Agreement is hereby amended to
add the following references where alphabetically appropriate in the ANNEXES, EXHIBITS AND SCHEDULES portion thereof to read as follows: 

Exhibit I     Form of Consolidated Cash Balance Certificate 

(c)    Each of Schedules 7.14 and 7.25 is hereby amended and restated in its entirety in the form attached hereto as
Schedules 7.14 and 7.25, respectively. 
 Section 3.    Conditions of Effectiveness. This Ninth Amendment
will become effective on the date on which each of the following conditions precedent is satisfied or waived in accordance with Section 12.02 of the Credit Agreement (the “Ninth Amendment Effective Date”): 

3.1    The Administrative Agent shall have received from the Borrower, PEI, each Guarantor, the Issuing Bank and each of
the Lenders, counterparts (in such number as may be requested by the Administrative Agent) of this Ninth Amendment signed on behalf of such Person. 

3.2    The Administrative Agent and the Lenders shall have received all fees and other amounts due and payable on or prior
to the Ninth Amendment Effective Date, including all reasonable and documented out-of-pocket expenses required to be reimbursed or paid by the Borrower under the Credit
Agreement (including reasonable and documented out-of-pocket fees and expenses invoiced by Paul Hastings LLP at least two (2) Business Days prior to the Ninth
Amendment Effective Date). 
 3.3    The Administrative Agent shall have received a certificate of the Secretary,
Assistant Secretary or a Responsible Officer of the Borrower and each Guarantor each setting forth (i) resolutions of the members, board of directors or other appropriate governing body with respect to the authorization of the Borrower or such
Guarantor to execute and deliver the Loan Documents to which it is a party and to enter into the transactions contemplated in those documents, (ii) the 

  
 20 

 
officers of the Borrower or such Guarantor (A) who are authorized to sign the Loan Documents to which the Borrower or such Guarantor is a party and (B) who will, until replaced by
another officer or officers duly authorized for that purpose, act as its representative for the purposes of signing documents and giving notices and other communications in connection with this Agreement and the transactions contemplated hereby,
(iii) specimen signatures of such authorized officers, and (iv) the partnership agreement, the limited liability company agreement, the articles or certificate of incorporation and bylaws or other applicable organizational documents of the
Borrower and such Guarantor certified as being true and complete. The Administrative Agent and the Lenders may conclusively rely on such certificate until the Administrative Agent receives notice in writing from the Borrower to the contrary. 

3.4    The Administrative Agent shall have received certificates of the appropriate State agencies with respect to the
existence, qualification and good standing of the Borrower and each Guarantor. 
 3.5    The Administrative Agent shall
have received an opinion of Vinson & Elkins LLP, special counsel to the Borrower and the other Loan Parties, in form and substance satisfactory to the Administrative Agent. 

3.6     Each Exiting Lender shall have received an amount equal to all outstanding principal owing to such Exiting Lender
as of the Ninth Amendment Effective Date. 
 3.7    The Administrative Agent shall have received such other documents as
the Administrative Agent or its special counsel may reasonably require. 
 The Administrative Agent shall, and is hereby authorized and
directed to, declare this Ninth Amendment to be effective when it has received documents confirming compliance with the conditions set forth in this Section 3 or the waiver of such conditions as agreed to by the Majority
Lenders. Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes. 

Section 4.    Assignment and Reallocation of Maximum Credit Amounts, Commitments and Loans. Effective as of
the Ninth Amendment Effective Date, and immediately prior to giving effect to the amendments in Section 2 of this Ninth Amendment (but, for the avoidance of doubt, prior to any Borrowing made on the Ninth Amendment Effective Date), each Lender
party to the Credit Agreement immediately prior to the Ninth Amendment Effective Date (each, an “Existing Lender”) has, in consultation with the Borrower, agreed to, and, for an agreed consideration, does hereby, reallocate its
Maximum Credit Amount, Commitment and Loans (and participations in Letters of Credit and LC Disbursements) among each of the Existing Lenders other than Capital One, National Association (“Capital One”) and UBS AG, Stamford Branch
(“UBS”) (each of Capital One and UBS, an “Exiting Lender” and, collectively, the “Exiting Lenders”; and each Existing Lender other than the Exiting Lenders, a “Continuing Lender”).
The Administrative Agent, the Issuing Bank and the Borrower hereby consent to such reallocation, including each Existing Lender’s assignment of its Maximum Credit Amount, Commitment and Loans (and participations in Letters of Credit and LC
Disbursements) to the extent effected by the reallocation contemplated hereby. On the Ninth Amendment Effective Date, immediately after giving effect to such reallocations: (a) Annex I to the Credit Agreement is hereby amended and restated in
its entirety to read as set forth on Annex I attached to this Ninth Amendment (the “Amended and Restated Annex I”), (b) the Maximum Credit Amount and Commitment of each Continuing Lender shall be as set forth on the Amended and
Restated Annex I (and for the avoidance of doubt the 

  
 21 

 
Maximum Credit Amount and Commitment of each Exiting Lender shall be $0), and (c) each Exiting Lender shall cease to be a “Lender” for all purposes under the Credit Agreement (as
modified hereby) and the other Loan Documents. With respect to such reallocation, each Continuing Lender shall be deemed to have acquired the Maximum Credit Amount, Commitment and Loans (and participations in Letters of Credit and LC Disbursements)
allocated to it from each of the other Existing Lenders pursuant to the terms of an Assignment and Assumption, and on the Ninth Amendment Effective Date, the Existing Lenders shall be deemed to have entered into an Assignment and Assumption pursuant
to which (i) each Continuing Lender shall be an “Assignee”, (ii) each Existing Lender shall be an “Assignor” and (iii) the term “Effective Date” shall be the “Ninth Amendment Effective
Date” as defined herein. Notwithstanding Section 12.04(b)(ii), no Person shall be required to pay a processing and recordation fee of $3,500 to the Administrative Agent. On the Ninth Amendment Effective Date, the Administrative Agent shall
take the actions specified in Section 12.04(b)(iv), including recording the assignments described herein in the Register, and such assignments shall be effective for purposes of the Credit Agreement. If on the Ninth Amendment Effective Date,
any Eurodollar Loans have been funded, then the Borrower shall be obligated to pay any breakage fees or costs that are payable pursuant to Section 5.02, in connection with the reallocation of such outstanding Eurodollar Loans to effectuate the
provisions of this paragraph.  
 Section 5.    Post-Closing Covenants. 

5.1    On or before the date that is 30 days after the Ninth Amendment Effective Date (or such later date as the
Administrative Agent may agree in its sole discretion), the Borrower shall have delivered, together with title information previously delivered to the Administrative Agent, title information as the Administrative Agent may reasonably require
satisfactory to the Administrative Agent setting forth the status of title to at least 80% of the total value of the proved Oil and Gas Properties of the Borrower and the Restricted Subsidiaries evaluated by the most recently delivered Reserve
Report. 
 5.2    On or before the date that is 7 days after the Ninth Amendment Effective Date (or such later date as
the Administrative Agent may agree in its sole discretion), the Borrower shall have delivered duly executed and notarized amendments to existing deeds of trust and/or mortgages and/or new deeds of trust/mortgages in form satisfactory to the
Administrative Agent, to the extent necessary so that the Mortgaged Properties represent at least 85% of the total value of the proved Oil and Gas Properties of the Borrower and the Restricted Subsidiaries evaluated by the most recently delivered
Reserve Report. 
 Section 6.    Miscellaneous. 

6.1    Confirmation. The provisions of the Credit Agreement, as amended by this Ninth Amendment, shall remain in
full force and effect following the effectiveness of this Ninth Amendment. 
 6.2    Ratification and Affirmation;
Representations and Warranties. Each of PEI and each Obligor hereby: (a) acknowledges the terms of this Ninth Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability
under, each Loan Document to which it is a party and agrees that each Loan Document to which 

  
 22 

 
it is a party remains in full force and effect, except as expressly amended hereby; (c) agrees that from and after the Ninth Amendment Effective Date each reference to the Credit Agreement
in the other Loan Documents shall be deemed to be a reference to the Credit Agreement, as amended by this Ninth Amendment; and (d) represents and warrants to the Lenders that as of the date hereof, after giving effect to the terms of this Ninth
Amendment: (i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects (except that any representation and warranty that is qualified by materiality shall be
true and correct in all respects), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct in all material
respects (except that any representation and warranty that is qualified by materiality shall be true and correct in all respects) as of such specified earlier date, (ii) no Default or Event of Default has occurred and is continuing and
(iii) no event, development or circumstance has occurred or exists that has resulted in, or could reasonably be expected to have, a Material Adverse Effect. 

6.3    Counterparts. This Ninth 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 an executed counterpart of a signature page of this Ninth Amendment by telecopy, facsimile, as an attachment to
an email or other similar electronic means shall be effective as delivery of a manually executed counterpart of this Ninth Amendment. 

6.4    NO ORAL AGREEMENT. THIS NINTH 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 SUBSEQUENT ORAL AGREEMENTS BETWEEN THE
PARTIES. 
 6.5    GOVERNING LAW. THIS NINTH 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 TEXAS. 

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

6.7    Payment of Expenses. In accordance with Section 12.03 of the Credit Agreement, the Borrower agrees to
pay or reimburse the Administrative Agent for all of its reasonable and documented out-of-pocket costs and expenses incurred in connection with this Ninth 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. 

  
 23 

 6.8    Severability. Any provision of this Ninth 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. 

6.9    Successors and Assigns. This Ninth Amendment shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns. 
 [Signature Pages Follow] 

  
 24 

 IN WITNESS WHEREOF, the parties hereto have caused this Ninth Amendment to be duly executed
and delivered by their proper and duly authorized officer(s) as of the day and year first above written. 
  

							
	BORROWER:	 		 	PARSLEY ENERGY, LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
		 		 	PARSLEY ENERGY, INC.
			
	PEI:	 		 	
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY GP, LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY ENERGY, L.P.
				
		 		 	BY:	 	PARSLEY GP, LLC, its general partner
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	GUARANTOR:	 		 	PARSLEY ENERGY OPERATIONS, LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY ADMINISTRATION, LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY MINERALS, LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY FINANCE CORP.
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	GUARANTOR:	 		 	PARSLEY DE LONE STAR LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY DE OPERATING LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY VERITAS ENERGY PARTNERS, LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY NOVUS LAND SERVICES LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	GUARANTOR:	 		 	JAGGED PEAK ENERGY LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer
			
	GUARANTOR:	 		 	PARSLEY SODE WATER LLC
				
		 		 	By:	 	 /s/ Ryan Dalton

		 		 	Name:	 	Ryan Dalton
		 		 	Title:	 	Executive Vice President—Chief Financial Officer

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	 ADMINISTRATIVE AGENT,
	 		 	 WELLS FARGO BANK, NATIONAL

	ISSUING BANK AND	 		 	ASSOCIATION
	LENDER:	 		 	
				
		 		 	By:	 	 /s/ Edward Pak

		 		 	Name:	 	Edward Pak
		 		 	Title:	 	Director

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	JPMORGAN CHASE BANK, N.A.
				
		 		 	By:	 	 /s/ Anca Loghin

		 		 	Name:	 	Anca Loghin
		 		 	Title:	 	 Authorized Officer

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	BMO HARRIS BANK, N.A.
				
		 		 	By:	 	 /s/ Matthew L. Davis

		 		 	Name:	 	Matthew L. Davis
		 		 	Title:	 	Director

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	MORGAN STANLEY BANK, N.A.
				
		 		 	By:	 	 /s/ Alysha Salinger

		 		 	Name:	 	Alysha Salinger
		 		 	Title:	 	Authorized Signatory
			
	LENDER:	 		 	MORGAN STANLEY SENIOR FUNDING, INC.
				
		 		 	By:	 	 /s/ Alysha Salinger

		 		 	Name:	 	Alysha Salinger
		 		 	Title:	 	Vice President

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
				
		 		 	By:	 	 /s/ Nupur Kumar

		 		 	Name:	 	Nupur Kumar
		 		 	Title:	 	Authorized Signatory
				
		 		 	By:	 	 /s/ Emerson Almeida

		 		 	Name:	 	Emerson Almeida
		 		 	Title:	 	Authorized Signatory

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	BOKF NA DBA BANK OF TEXAS
				
		 		 	By:	 	 /s/ Bradley Kuhn

		 		 	Name:	 	Bradley Kuhn
		 		 	Title:	 	Senior Vice President

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	FROST BANK, A TEXAS STATE BANK
				
		 		 	By:	 	 /s/ Jack Herndon

		 		 	Name:	 	Jack Herndon
		 		 	Title:	 	Senior Vice President

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	ROYAL BANK OF CANADA
				
		 		 	By:	 	 /s/ Don J. Mckinnerney

		 		 	Name:	 	Don J. Mckinnerney
		 		 	Title:	 	Authorized Signatory

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	    U.S. BANK NATIONAL ASSOCIATION

							
				
		 		 	By:	 	 /s/ Mark E. Thompson

		 		 	Name:	 	Mark E. Thompson
		 		 	Title:	 	Senior Vice President

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	THE BANK OF NOVA SCOTIA

							
				
		 		 	By:	 	 /s/ Scott Nickel

		 		 	Name:	 	Scott Nickel
		 		 	Title:	 	Director

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	BBVA USA

							
				
		 		 	By:	 	 /s/ Julia Barnhill

		 		 	Name:	 	Julia Barnhill
		 		 	Title:	 	Vice President

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

									
	LENDER:	 		 		 	CANADIAN IMPERIAL BANK OF COMMERCE-NEW YORK BRANCH

							
				
		 		 	By:	 	 /s/ Trudy Nelson

		 		 	Name:	 	Trudy Nelson
		 		 	Title:	 	Authorized Signatory
				
		 		 	By:	 	 /s/ Scott W. Danvers

		 		 	Name:	 	Scott W. Danvers
		 		 	Title:	 	Authorized Signatory

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	EXITING LENDER:	 		 	 CAPITAL ONE, NATIONAL ASSOCIATION

							
				
		 		 	By:	 	 /s/ Christopher Kuna

		 		 	Name:	 	Christopher Kuna
		 		 	Title:	 	Senior Director

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	CITIBANK, N.A.

							
				
		 		 	By:	 	 /s/ Cliff Vaz

		 		 	Name:	 	Cliff Vaz
		 		 	Title:	 	Vice President

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	LENDER:	 		 	PNC BANK, NATIONAL ASSOCIATION

							
				
		 		 	By:	 	 /s/ John Engel

		 		 	Name:	 	John Engel
		 		 	Title:	 	Vice President

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

							
	EXITING LENDER:	 		 	UBS AG, STAMFORD BRANCH, 

							
				
		 		 	By:	 	 /s/ Darlene Arias

		 		 	Name:	 	Darlene Arias
		 		 	Title:	 	Director

							
				
		 		 	By:	 	 /s/ Anthony Joseph

		 		 	Name:	 	Anthony Joseph
		 		 	Title:	 	Associate Director

  
 [Parsley Energy, LLC -
Ninth Amendment Signature Page] 

 ANNEX I 
  

 
  

CREDIT AGREEMENT 
 dated
as of 
 October 28, 2016 

Among 
 PARSLEY ENERGY,
LLC, 
 as Borrower, 

PARSLEY ENERGY, INC., 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Administrative Agent, 

JPMORGAN CHASE BANK, N.A. and 

BMO HARRIS BANK, N.A. 
 as
Syndication Agents, 
 CITIBANK, N.A., CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 

ROYAL BANK OF CANADA and U.S. BANK NATIONAL ASSOCIATION 

as Documentation Agents, 

and 
 The Lenders Party
Hereto 
  
  

WELLS FARGO SECURITIES, LLC 

Sole Lead Arranger and Sole Bookrunner 
  

 
  

 
  

  
 Exhibit A to Ninth
Amendment 

 ANNEX I 

LIST OF MAXIMUM CREDIT AMOUNTS 
  

									
	 Name of Lender
	  	Applicable Percentage	 	 	Maximum Credit Amount	 
	 Wells Fargo Bank, National Association
	  	 	11.162790698	% 	 	$	558,139,534.90	 
	 BMO Harris Bank, N.A.
	  	 	10.232558140	% 	 	$	511,627,907.00	 
	 JPMorgan Chase Bank, N.A.
	  	 	10.232558140	% 	 	$	511,627,907.00	 
	 Citibank, N.A.
	  	 	7.325581395	% 	 	$	366,279,069.75	 
	 Credit Suisse AG, Cayman Islands Branch
	  	 	7.325581395	% 	 	$	366,279,069.75	 
	 Royal Bank of Canada
	  	 	7.325581395	% 	 	$	366,279,069.75	 
	 U.S. Bank National Association
	  	 	7.325581395	% 	 	$	366,279,069.75	 
	 BBVA Bank d/b/a Compass Bank
	  	 	5.953488372	% 	 	$	297,674,418.60	 
	 The Bank of Nova Scotia, Houston Branch
	  	 	5.953488372	% 	 	$	297,674,418.60	 
	 BOKF NA dba Bank of Texas
	  	 	5.744186047	% 	 	$	287,209,302.34	 
	 Canadian Imperial Bank of Commerce-New York
Branch
	  	 	5.744186047	% 	 	$	287,209,302.34	 
	 PNC Bank, National Association
	  	 	4.651162791	% 	 	$	232,558,139.54	 
	 Frost Bank, a Texas State Bank
	  	 	4.511627907	% 	 	$	225,581,395.34	 
	 Morgan Stanley Bank, N.A.
	  	 	3.682507583	% 	 	$	184,125,379.15	 
	 Morgan Stanley Senior Funding, Inc.
	  	 	2.829120323	% 	 	$	141,456,016.19	 
		  	  
	  
	 	 	  
	  
	 
	 TOTAL
	  	 	100.0000000000	% 	 	$	5,000,000,000.00	 
		  	  
	  
	 	 	  
	  
	 

  
 Annex I

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