Document:

Exhibit 10.1

 

Execution Version

 

EIGHTH AMENDMENT

TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

and

FIRST AMENDMENT

TO

SECOND AMENDED AND RESTATED GUARANTY AND
COLLATERAL AGREEMENT

 

DATED AS OF

OCTOBER 8, 2015

 

AMONG

 

EV PROPERTIES, L.P.,

as Borrower,

 

THE GUARANTORS,

 

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent,

 

and

 

The Lenders Signatory Hereto

 

 

 

WELLS FARGO, NATIONAL ASSOCIATION

as Syndication Agent,

 

MUFG UNION BANK, N.A.

BBVA COMPASS

and

CITIBANK, N.A.

as Co-Documentation Agents,

and

The Lenders Party Hereto

 

Sole Lead Arranger and Sole Book Runner

J.P. Morgan Securities LLC

 

     

     

    

 

EIGHTH AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT
AGREEMENT

 

and

 

FIRST AMENDMENT

TO

SECOND AMENDED AND RESTATED GUARANTY
AND COLLATERAL AGREEMENT

 

This EIGHTH AMENDMENT
TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT and FIRST AMENDMENT TO SECOND AMENDED AND RESTATED GUARANTY AND COLLATERAL AGREEMENT
(this “Amendment”) dated as of October 8, 2015, is among EV PROPERTIES, L.P., a Delaware limited partnership
(the “Borrower”); each of the undersigned guarantors (the “Guarantors”, and together with
the Borrower, the “Obligors”); JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity,
together with its successors, the “Administrative Agent”); and the Lenders signatory hereto.

 

Recitals

 

A.           The
Borrower, the Administrative Agent and the Lenders are parties to that certain Second Amended and Restated Credit Agreement dated
as of April 26, 2011 (as amended by that certain First Amendment to Second Amended and Restated Credit Agreement dated as of December
21, 2011, by that certain Second Amendment to Second Amended and Restated Credit Agreement dated as of March 29, 2012, by that
certain Third Amendment to Second Amended and Restated Credit Agreement dated as of September 27, 2012, by that certain Fourth
Amendment to Second Amended and Restated Credit Agreement dated as of February 26, 2013, by that certain Fifth Amendment to Second
Amended and Restated Credit Agreement dated as of August 7, 2014, by that certain Sixth Amendment to Second Amended and Restated
Credit Agreement dated as of September 19, 2014 and by that certain Seventh Amendment to Second Amended and Restated Credit Agreement,
dated as of February 26, 2015, the “Credit Agreement”), pursuant to which the Lenders have made certain credit
available to and on behalf of the Borrower.

 

B.           The
Second Amended and Restated Guaranty and Collateral Agreement, dated as of April 26, 2011, was executed by the Borrower, and those
subsidiaries of the Borrower signatory thereto from time to time as guarantors, in favor of the Administrative Agent for the Lenders
(the “Guaranty and Collateral Agreement”).

 

C.           The
Borrower, the Administrative Agent and the Lenders have agreed to amend certain provisions of each of the Credit Agreement and
the Guaranty and Collateral Agreement as more fully set forth herein.

 

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D.           NOW,
THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

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

 

Section
2.          Amendments to Credit Agreement.

 

2.1           Amendments
to Section 1.02.  

 

(a)          The
following definitions are hereby amended in their respective entireties to read as follows:

 

“Agreement”
means this Second Amended and Restated Credit Agreement, including the 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 as the same may be amended, modified or supplemented from time to time.

 

“Applicable
Margin” means, for any day, with respect to any ABR Loan or Eurodollar Loan, as the case may be, the rate per annum set
forth in the Borrowing Base Utilization Grid below based (subject to the last sentence of this definition of “Applicable
Margin”) upon the Borrowing Base Utilization Percentage then in effect:

 

Borrowing Base Utilization Grid

 

	Borrowing 

Base 

Utilization 

Percentage	 	<25%	 	 	>25%, but 

<50%	 	 	>50%, but 

<75%	 	 	>75%, but 

<90%	 	 	>90%	 
	ABR Loans	 	 	0.750	%	 	 	1.000	%	 	 	1.250	%	 	 	1.500	%	 	 	1.750	%
	Eurodollar Loans	 	 	1.750	%	 	 	2.000	%	 	 	2.250	%	 	 	2.500	%	 	 	2.750	%

 

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 8.12(a), then the “Applicable Margin” means the rate per annum
set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level.

 

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“Covenant
Relief End Date” means the earlier of (a) December 31, 2016 and (b) the Business Day immediately following the date on
which the Borrower delivers written notice to the Administrative Agent that the Borrower has elected that the Covenant Relief End
Date occur on such Business Day and attaching an officer’s certificate confirming compliance with the covenants in Section
9.01 on a pro forma basis together with calculations showing such compliance in reasonable detail.

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively
identical), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section
1471(b)(1) of the Code and any law, regulation, rule, promulgation, or official agreement implementing an official government agreement
with respect to the foregoing.

 

“Other
Taxes” means any and all present or future stamp or documentary taxes or any other similar excise or Property taxes,
charges or levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement and any other Loan Document.

 

“Taxes”
means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings (including backup withholding)
imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 

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

 

“Approved
Fund” means (a) any entity (whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing,
holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course of its business and is administered
or managed by a Lender or an Affiliate of such Lender and (b) with respect to any Lender that is a fund which invests in bank loans
and similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed by
the same investment advisor as such Lender or by an Affiliate of such investment advisor.

 

“Commitment
Fee Rate” means, for any day, the rate per annum set forth in the Borrowing Base Utilization Grid below based upon the
Borrowing Base:

 

Borrowing Base Utilization
Grid

 

	Borrowing 

Base 

Utilization 

Percentage	 	<25%	 	 	>25%, but 

<50%	 	 	>50%, but 

<75%	 	 	>75%, but 

<90%	 	 	>90%	 
	Commitment Fee	 	 	0.375	%	 	 	0.375	%	 	 	0.500	%	 	 	0.500	%	 	 	0.500	%

 

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“Eighth
Amendment” means that certain Eighth Amendment to Second Amended and Restated Credit Agreement and First Amendment to
Second Amended and Restated Guaranty and Collateral Agreement, dated as of the Eighth Amendment Effective Date, among the Borrower,
the Guarantors, the Administrative Agent and the Lenders party thereto.

 

“Eighth
Amendment Effective Date” means October 8, 2015.

 

“Participant
Register” has the meaning set forth in Section 12.04(c)(i).

 

“U.S.
Tax Compliance Certificate” has the meaning set forth in Section 5.03(f)(ii)(B)(3).

 

(c)          The
definition of “Excluded Taxes” is hereby amended by replacing “e” with “f” in the reference
to “Section 5.03” of clause “(c)” therein.

 

2.2           Amendment
to Section 2.08(f).  Section 2.08(f) is hereby amended by adding the following as clause (iv) after clause (iii)
and renumbering clause (iv) as clause (v):

 

(iv) any
dispute between or among the Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit
may be transferred or any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee.

 

2.3           Amendment
to Section 3.05(a).  Section 3.05(a) is hereby amended by replacing “of 0.50%” with “equal to the
Commitment Fee Rate”.

 

2.4           Amendment
to Section 5.01(a).  Section 5.01(a) is hereby amended in its entirety as follows:

 

(a)          Eurodollar
Changes in Law.  If any Change in Law shall:

 

(i)          impose,
modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account
of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate);

 

(ii)         impose
on any Lender or the London interbank market any other condition (other than Taxes) affecting this Agreement or Eurodollar Loans
made by such Lender; or

 

(iii)        subject
the Administrative Agent, such Lender or such Issuing Bank to any Taxes (other than (A) Indemnified Taxes, (B) Other Taxes and
(C) Excluded Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves,
other liabilities or capital attributable thereto;

 

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and the result
of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan (or of maintaining
its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender (whether of principal,
interest or otherwise), then the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender
for such additional costs incurred or reduction suffered.

 

2.5           Amendment
to Section 5.01(b).  Section 5.01(b) is hereby amended by adding “or liquidity” following each of (i)
“regarding capital requirements” and (ii) “with respect to capital adequacy”.

 

2.6           Amendment
to Section 5.03.  Section 5.03 is hereby amended in its entirety as follows:

 

Section 5.03         Taxes.

 

(a)          Payments
Free of Taxes.  Any and all payments by or on account of any obligation of the Borrower or any Guarantor under any
Loan Document shall be made free and clear of and without deduction or withholding for any Taxes, except as required by applicable
law.  If any applicable law (as determined in the good faith discretion of the applicable withholding agent) requires
the deduction or withholding of any Tax from any such payment by a withholding agent, then the applicable withholding agent shall
be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental
Authority in accordance with applicable law and, if such Tax is an Indemnified Tax or Other Tax, then the sum payable by the Borrower
or such Guarantor shall be increased as necessary so that after such deduction or withholding has been made (including such deductions
and withholdings applicable to additional sums payable under this Section 5.03(a)) the Administrative Agent, Lender or Issuing
Bank (as the case may be) receives an amount equal to the sum it would have received had no such deduction or withholding been
made.

 

(b)          Payment
of Other Taxes by the Borrower.  The Borrower or any Guarantor shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

 

(c)          Indemnification
by the Borrower.  The Borrower or any Guarantor shall jointly and severally indemnify the Administrative Agent, each
Lender and each Issuing Bank, within 10 days after written demand therefor, for the full amount of any Indemnified Taxes or Other
Taxes payable or paid by the Administrative Agent, such Lender or such Issuing Bank, as the case may be, on or with respect to
any payment by or on account of any obligation of the Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or
asserted on or attributable to amounts payable under this Section 5.03) and any penalties, interest and reasonable expenses
arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed
or asserted by the relevant Governmental Authority.  A certificate of the Administrative Agent, a Lender or an Issuing
Bank as to the basis of such Indemnified Taxes and Other Taxes and the amount of such payment or liability under this Section
5.03 shall be delivered to the Borrower and shall be conclusive absent manifest error.

 

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(d)          Evidence
of Payments.  As soon as practicable after any payment of Taxes by the Borrower or any Guarantor to a Governmental
Authority pursuant to this Section 5.03, the Borrower or any Guarantor shall deliver to the Administrative Agent the original
or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting
such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

 

(e)          Indemnification
by the Lenders.  Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor,
for (i) any Indemnified Taxes or Other Taxes attributable to such Lender (but only to the extent that the Borrower or any Guarantor
has not already indemnified the Administrative Agent for such Indemnified Taxes or Other Taxes and without limiting the obligation
of the Borrower or any Guarantor to do so), (ii) any Taxes attributable to such Lender's failure to comply with the provisions
of Section 12.04(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender,
in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses
arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority.  A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative
Agent shall be conclusive absent manifest error.  Each Lender hereby authorizes the Administrative Agent to set off and
apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent
to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (e).

 

(f)          Status
of Lenders.  (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to
payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably
requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested
by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of
withholding.  In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver
such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will
enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information
reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution
and submission of such documentation (other than such documentation set forth in Section 5.03(f)(ii)(A), (ii)(B) and (ii)(D) below)
shall not be required if in the Lender's reasonable judgment such completion, execution or submission would subject such Lender
to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

 

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(ii) Without
limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person,

 

(A) any Lender
that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes
a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. Federal backup withholding tax;

 

(B) any Foreign
Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number
of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever
of the following is applicable:

 

(1)  in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or W-8BEN-E (or any successor forms) establishing
an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the "interest" article of such tax treaty
and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E (or any successor forms)
establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the "business profits" or "other
income" article of such tax treaty;

 

(2)  executed
originals of IRS Form W-8ECI (or any successor forms);

 

(3) in the
case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a
certificate substantially in the form of Exhibit C-1. C-2, C-3, or C-4, as applicable, to the effect that such Foreign Lender is
not a "bank" within the meaning of Section 881(c)(3)(A) of the Code, a "10 percent shareholder" of the Borrower
within the meaning of Section 881(c)(3)(B) of the Code, or a "controlled foreign corporation" described in Section 881(c)(3)(C)
of the Code (a "U.S. Tax Compliance Certificate") and (y) executed originals of IRS Form W-8BEN or W-8BEN-E (or
any successor forms); or

 

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(4) to the
extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS
Form W-8BEN, W-8BEN-E, a U.S. Tax Compliance Certificate, IRS Form W-9, IRS Form W-8IMY and/or other certification documents from
each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect
partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance
Certificate on behalf of each such direct and indirect partner;

 

(C) Any Foreign
Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number
of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed
originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. Federal
withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit
the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and.

 

(D) FATCA.  If
a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed
by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply
with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA
or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this Section 5.03(f), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement.  For purposes of determining withholding
Taxes imposed under FATCA, from and after the Eighth Amendment Effective Date, the Borrower and the Administrative Agent shall
treat (and the Lenders hereby authorize the Administrative Agent to treat) the Agreement as not qualifying as a “grandfathered
obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

 

Each Lender
agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall
update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability
to do so.

 

(g)          Survival.  Each
party's obligations under this Section 5.03 shall survive the resignation or replacement of the Administrative Agent or any assignment
of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge
of all obligations under any Loan Document.

 

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2.7           Amendment
to Section 8.14(b).  Section 8.14(b) is hereby amended by adding “, other than a Foreign Subsidiary,”
following “any Wholly-Owned Subsidiary” and before “incurs or guarantees”.

 

2.8           Amendment
to Section 9.01(a).  Section 9.01(a) is hereby amended in its entirety as follows:

 

(a)          Ratio
of Total Debt to EBITDAX.  The Parent will not, as of any date of determination after the Covenant Relief End Date,
permit its ratio of Total Debt as of such date to EBITDAX for the most recent period of four fiscal quarters for which financial
statements are available to be greater than (i) for the fiscal quarters ending March 31, 2017 and June 30, 2017, 5.50 to 1.0, (ii)
for the fiscal quarters ending September 30, 2017 and December 31, 2017, 5.25 to 1.0 and (iii) for the fiscal quarter ending March
31, 2018 and thereafter, 4.25 to 1.0.  

 

2.9           Amendment
to Section 9.01(c).  Section 9.01(c) is hereby amended in its entirety as follows:

 

(c)          Ratio
of Senior Secured Funded Debt to EBITDAX.  The Parent will not, as of any date of determination from and after the
Eighth Amendment Effective Date up to and including the Covenant Relief End Date, permit its ratio of Senior Secured Funded Debt
as of such date to EBITDAX for the most recent period of four fiscal quarters for which financial statements are available to be
greater than 3.0 to 1.0.

 

2.10         Amendment
to Section 9.04(b).  Section 9.04(b) is hereby amended by adding (i) “(A)” following “except that
the Borrower may” and before “prepay the Senior Debt” and (ii) “and (B) Redeem the Existing Senior Notes
or the Senior Notes for which the aggregate consideration paid shall not exceed $50,000,000; provided, that the proceeds
of the Loans shall not be used to consummate such Redemption” following “the Borrower or the Parent” and before
“or (ii) amend, modify, waive”.

 

2.11         Amendment
to Section 12.03(b).  Section 12.03(b) is hereby amended by adding the following as the last sentence therein:

 

“This
Section 12.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims or damages arising from
any non-Tax claim.”

 

2.12         Amendment
to Section 12.04(b)(i).  Section 12.04(b)(i) is hereby amended in its entirety as follows:

 

(b)          
(i) Subject to the conditions set forth in Section 12.04(b)(ii), any Lender may assign to one or more assignees, other than
a natural person or a Defaulting Lender, all or a portion of its rights and obligations under this Agreement (including all or
a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably
withheld) of:

 

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(A)         the
Borrower, provided that no consent of the Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender,
an Approved Fund or, if an Event of Default has occurred and is continuing, to any other assignee; and

 

(B)         the
Administrative Agent, provided that no consent of the Administrative Agent shall be required for an assignment to an assignee
that is a Lender (other than a Defaulting Lender), an Affiliate of a Lender (other than a Defaulting Lender) or an Approved Fund
immediately prior to giving effect to such assignment.

 

2.13         Amendment
to Section 12.04(c)(i).  Section 12.04(c)(i) is hereby amended by adding the following as the last sentence therein:

 

“Each
Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register
on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s
interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that
no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant
or any information relating to a Participant's interest in any commitments, loans, letters of credit or its other obligations under
any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan,
letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.  The
entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name
is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any
notice to the contrary.  For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent)
shall have no responsibility for maintaining a Participant Register.”

 

2.14         Amendment
to Section 12.04(c)(ii).  Section 12.04(c)(ii) is hereby amended by replacing “e” with “f”
in the last reference to “Section 5.03” therein.

 

2.15         Amendment
to List of Annexes, Exhibits and Schedules. The list of “Annexes, Exhibits and Schedules” to the Credit Agreement
hereby is amended by adding the following phrases immediately following the reference to “Exhibit E-2 Form of Additional
Lender Certificate”:  “Exhibit F-1 Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are
Not Treated As Partnerships For U.S. Federal Income Tax Purposes)”, “Exhibit F-2  Form of U.S. Tax Compliance
Certificate (For Foreign Lenders That Are Treated As Partnerships For U.S. Federal Income Tax Purposes)”, “Exhibit
F-3  Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Treated As Partnerships For U.S.
Federal Income Tax Purposes)”, and “Exhibit F-4  Form of U.S. Tax Compliance Certificate (For Foreign Participants
That Are Treated As Partnerships For U.S. Federal Income Tax Purposes)”.

 

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2.16         Amendment
to Exhibits.  The Exhibits to the Credit Agreement hereby are amended by adding as new Exhibits F-1, F-2, F-3 and
F-4, the Exhibits in Attachment I hereto.

 

Section
3.          Amendments to Guaranty and Collateral Agreement.

 

3.1           Amendments
to Section 1.01.  

 

(a)          The
definition of “Guaranteed Creditors” is hereby amended by replacing “Swap Agreements” with “Documents”.

 

(b)          The
definition of “Guarantor Obligations” is hereby amended in its entirety to read as follows:

 

“Guarantor
Obligations” means the collective reference to (a) the Borrower Obligations and (b) all obligations and liabilities of
each Guarantor which may arise under or in connection with any Guaranteed Document, in each case, whether on account of principal,
interest, guarantee obligations, reimbursement obligations, payments in respect of an early termination date, fees, indemnities,
costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to any Guaranteed Creditor under
any Guaranteed Document).

 

3.2           Amendment
to Section 2.01(a).  Section 2.01(a) is hereby amended by deleting “by the Borrower”.

 

3.3           Amendment
to Section 3.01.  Section 3.01 is hereby amended by replacing “of such Pledgor’s Obligations” with
“of the Borrower Obligations and the Guarantor Obligations”.

 

Section
4.          Borrowing Base.  For the period from and
including the Amendment Effective Date until the next Redetermination Date, the Borrowing Base is $625,000,000.  Notwithstanding
the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section
8.13(c), Section 9.12 or Section 9.18.  For the avoidance of doubt, the redetermination of the Borrowing Base contained
in this Section 4 constitutes the Scheduled Redetermination for October 1, 2015 pursuant to Section 2.07 of the Credit Agreement.

 

Section
5.          Conditions Precedent.  This Amendment shall
become effective on the date (such date, the “Amendment Effective Date”) when each of the following conditions
is satisfied (or waived in accordance with Section 12.02):

 

5.1           The
Administrative Agent shall have received from each Lender and the Obligors counterparts (in such number as may be requested by
the Administrative Agent) of this Amendment signed on behalf of such Persons.

 

    	Page 12

     

    

 

5.2           Both
before and immediately after giving effect to this Amendment, (a) no Default shall have occurred and be continuing and (b) no default
or event of default shall exist under any capital stock, membership or partnership interests, financing arrangements or other material
contracts or agreements of the Parent and its subsidiaries.  

 

5.3           The
Administrative Agent shall have received UCC and other lien searches reflecting the absence of liens and security interests other
than those which are permitted under the Credit Agreement.

 

5.4           There
shall be no litigation seeking to enjoin or prevent this Amendment or the financing contemplated hereby.

 

5.5           The
Administrative Agent and the Lenders shall have received all fees required to be paid, including, without limitation, an upfront
fee for the account of each Lender, of forty (40) basis points multiplied by the positive difference, if any, between (a) each
such Lender’s final allocated Commitment as in effect immediately after giving effect to this Amendment minus (b) each such
Lender’s final allocated Commitment as in effect immediately prior to the Amendment Effective Date.

 

5.6           The
Administrative Agent shall have received such other documents as the Administrative Agent or its special counsel may reasonably
require.

 

The Administrative
Agent is hereby authorized and directed to declare this Amendment to be effective (and the Amendment Effective Date shall occur)
when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions
set forth in this Section 5 or the waiver of such conditions as permitted in Section 12.02.  Such declaration shall be
final, conclusive and binding upon all parties to the Credit Agreement for all purposes.

 

Section
6.          Post-Effective Covenant.  Within 45 days
of the Amendment Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion), the Administrative
Agent shall have received confirmation and such documents and agreements as may be required such that, as of such date, the requirements
of Section 8.14(a) have been met.

 

Section
7.          Miscellaneous.

 

7.1           Confirmation.  The
provisions of the Credit Agreement, as amended by this Amendment, shall remain in full force and effect following the Amendment
Effective Date.

 

7.2           Ratification
and Affirmation; Representations and Warranties.  Each Obligor hereby (a) acknowledges the terms of this Amendment;
(b) ratifies and affirms its obligations under, and acknowledges its continued liability under, each Loan Document and agrees that
each Loan Document remains in full force and effect as expressly amended hereby; (c) agrees that from and after the Amendment Effective
Date each reference to the Credit Agreement in the Guaranty Agreement and the other Loan Documents shall be deemed to be a reference
to the Credit Agreement, as amended by this Amendment; and (d) represents and warrants to the Lenders that as of the date hereof:
(i) all of the representations and warranties contained in each Loan Document are true and correct in all material respects (without
duplication of materiality), 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 (without duplication
of materiality) as of such specified earlier date, (ii) no 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.  

 

    	Page 13

     

    

 

7.3           Release.  The
Borrower and each Obligor, in consideration of the Administrative Agent’s and the undersigned Lenders’ execution and
delivery of this Amendment and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
unconditionally, freely, voluntarily and, after consultation with counsel and becoming fully and adequately informed as to the
relevant facts, circumstances and consequences, releases, waives and forever discharges (and further agrees not to allege, claim
or pursue) any and all claims, rights, causes of action, counterclaims or defenses of any kind whatsoever, in contract, in tort,
in law or in equity, whether known or unknown, direct or derivative, which the Borrower, each Obligor or any predecessor, successor
or assign might otherwise have or may have against the Administrative Agent, the Lenders, their present or former subsidiaries
and affiliates or any of the foregoing’s officers, directors, employees, attorneys or other representatives or agents on
account of any conduct, condition, act, omission, event, contract, liability, obligation, demand, covenant, promise, indebtedness,
claim, right, cause of action, suit, damage, defense, circumstance or matter of any kind whatsoever which existed, arose or occurred
at any time prior to the Amendment Effective Date relating to the Loan Documents, this Amendment and/or the transactions contemplated
thereby or hereby.  The foregoing release shall survive the termination of this Amendment.

 

7.4           Counterparts.  This
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 Amendment by telecopy, facsimile or email transmission shall be effective as delivery of a manually executed counterpart
of this Amendment.

 

7.5           No
Oral Agreement.  This 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.

 

7.6           GOVERNING
LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.

 

7.7           Payment
of Expenses.  In accordance with Section 12.03, the Borrower agrees to pay or reimburse the Administrative Agent
for all of its reasonable out-of-pocket costs and reasonable expenses incurred in connection with this Amendment, any other documents
prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and
disbursements of counsel to the Administrative Agent.

 

    	Page 14

     

    

 

7.8           Severability.  Any
provision of this Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

7.9           Successors
and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

 

[Signature Pages Follow]

 

    	Page 15

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed effective as of the Amendment Effective Date.

 

	BORROWER:	EV PROPERTIES, L.P.
	 	 
	 	By: EV Properties GP, LLC, its general partner
	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer
	 	 
	PARENT:	EV ENERGY PARTNERS, L.P.
	 	 
	 	By: 	EV ENERGY GP, L.P.,
	 	 	its general partner
	 	 
	 	 	By:  EV MANAGEMENT, LLC, its general partner
	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer
	 	 
	GUARANTORS:	EV PROPERTIES GP, LLC
	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	ENERVEST PRODUCTION 
	 	PARTNERS, LTD.
	 	By:	EVPP GP, LLC,
	 	 	its general partner
	 	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer
	 	 
	 	EVPP GP, LLC
	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer
	 	 
	 	CGAS PROPERTIES, L.P.
	 	 
	 	By:	EVCG GP, LLC,
	 	 	its general partner
	 	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer
	 	 
	 	ENERVEST MONROE MARKETING, LTD.
	 	 
	 	By:	EVPP GP, LLC, its general partner
	 	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	ENERVEST MONROE GATHERING, LTD.
	 	 
	 	By:	EVPP GP, LLC, its general partner
	 	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer
	 	 
	 	BELDEN & BLAKE CORPORATION
	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer
	 	 
	 	ENERVEST MESA, LLC
	 	 
	 	By:	/s/ NICHOLAS BOBROWSKI
	 	 	Nicholas Bobrowski
	 	 	Vice President and Chief
	 	 	Financial Officer

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	ADMINISTRATIVE AGENT:	JPMORGAN CHASE BANK, N.A., as
	 	Administrative Agent and a Lender
	 	 	 
	 	By:	/s/ MICHAEL A. KAMAUF
	 	 	Name:  	Michael A. Kamauf
	 	 	Title:	Authorized Officer

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	LENDERS:	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
	 	 
	 	By:	/s/ BETSY JOCHER
	 	 	Name:  	Betsy Jocher
	 	 	Title:	Director

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	COMPASS BANK, as a Lender
	 	 
	 	By:	/s/ RHIANNA DISCH
	 	 	Name:  	Rhianna Disch
	 	 	Title:	Vice President

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	CITIBANK, N.A., as a Lender
	 	 
	 	By:	/s/ JEFF ARD
	 	 	Name:  	Jeff Ard
	 	 	Title:	Vice President

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	COMERICA BANK, as a Lender
	 	 
	 	By:	/s/ CHAD STEPHENSON
	 	 	Name:  	Chad Stephenson
	 	 	Title:	Vice President

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	ING CAPITAL LLC, as a Lender
	 	 
	 	By:	/s/ CHARLES HALL
	 	 	Name:  	Charles Hall
	 	 	Title:	Managing Director
	 	 	 
	 	By:	/s/ JOSH STRONG
	 	 	Name:  	Josh Strong
	 	 	Title:	Director

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	ROYAL BANK OF CANADA, as a Lender
	 	 
	 	By:	/s/ EVANS SWANN, JR.
	 	 	Name:  	Evans Swann, Jr.
	 	 	Title:	Authorized Signatory

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	THE BANK OF NOVA SCOTIA, as a Lender
	 	 
	 	By:	/s/ TERRY DONOVAN
	 	 	Name:  	Terry Donovan
	 	 	Title:	Managing Director

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	MUFG UNION BANK, N.A. F/K/A UNION BANK, N.A., as a Lender
	 	 
	 	By:	/s/ DAVID HELFFRICH
	 	 	Name:  	David Helffrich
	 	 	Title:	Vice President

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender
	 	 
	 	By:	/s/ BRAD JOHANN
	 	 	Name:  	Brad Johann
	 	 	Title:	Vice President

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	AMEGY BANK NATIONAL ASSOCIATION, as a Lender
	 	 	 
	 	By:	/s/ G. SCOTT COLLINS
	 	 	Name:  	G. Scott Collins
	 	 	Title:	Senior Vice President
	 	 	 	 
	 	By:	/s/ JOHN MOFFITT
	 	 	Name:	John Moffitt
	 	 	Title:	Assistant Vice President

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender
	 	 	 
	 	By:	/s/ DOREEN BARR
	 	 	Name:  	Doreen Barr
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	By:	/s/ JAYANT RAO
	 	 	Name:  	Jayant Rao
	 	 	Title:	Authorized Signatory

 

Eighth Amendment to Second Amended and Restated
Credit Agreement

Signature Page

 

     

     

    

 

	 	FROST BANK, as a Lender
	 	 
	 	By:	/s/ MATT SHANDS
	 	 	Name:  	Matt Shands
	 	 	Title: 	Assistant Vice President

 

Eighth Amendment to Second
Amended and Restated Credit Agreement

Signature Page

 

      

     

    

  

	 	BANK OF AMERICA, N.A., as a Lender
	 	 
	 	By:	/s/ RAZA JAFFERI
	 	 	Name:  	Raza Jafferi
	 	 	Title: 	Vice President

 

Eighth Amendment to Second
Amended and Restated Credit Agreement

Signature Page

 

      

     

    

 

	 	CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as a Lender
	 	 
	 	By:	/s/ TRUDY NELSON
	 	 	Name:  	Trudy Nelson
	 	 	Title: 	Authorized Signatory
	 	 	 
	 	By:	/s/ RICHARD ANTL
	 	 	Name:  	Richard Antl
	 	 	Title: 	Authorized Signatory

 

Eighth Amendment to Second
Amended and Restated Credit Agreement

Signature Page

 

      

     

    

 

	 	REGIONS BANK, as a Lender
	 	 
	 	By:	/s/ MICHAEL KUTCHER
	 	 	Name:  	Michael Kutcher
	 	 	Title: 	Assistant Vice President

 

Eighth Amendment to Second
Amended and Restated Credit Agreement

Signature Page

 

      

     

    

 

Attachment I

 

      

     

    

 

EXHIBIT F-1

 

UNITED STATES TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Not Treated As Partnerships For

U.S. Federal Income Tax Purposes)

 

Reference
is made to the Second Amended and Restated Credit Agreement, dated as of April 26, 2011 (as
amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Credit Agreement”),
among EV ENERGY PARTNERS, L.P., (the “Parent”), EV PROPERTIES, L.P., (the “Borrower”), the
Lenders party thereto from time to time and JPMORGAN CHASE BANK, N.A., as Administrative Agent. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

 

Pursuant to the provisions
of Section 5.03(f)(ii)(B) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial
owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii)
it is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “10 percent shareholder”
of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, (iv) it is not a “controlled foreign corporation”
related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) no payments in connection with any Loan Document
are effectively connected with the undersigned’s conduct of a U.S. trade or business.

 

The undersigned has furnished
to the Administrative Agent and the Borrower with a certificate of its non-U.S. person status on IRS Form W-8BEN or W-8-BEN-E.
By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned
shall promptly so inform the Borrower and the Administrative Agent in writing and (2) the undersigned shall have at all times furnished
the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar
year in which payment is to be made by the Borrower or the Administrative Agent to the undersigned, or in either of the two calendar
years preceding each such payment.

 

[Signature Page Follows]

 

      

     

    

  

	 	[Foreign Lender]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	[Address]

 

Dated:______________________, 20[  ]

 

      

     

    

 

EXHIBIT F-2

 

UNITED STATES TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Treated As Partnerships For

U.S. Federal Income Tax Purposes)

 

Reference
is made to the Second Amended and Restated Credit Agreement, dated as of April 26, 2011 (as
amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Credit Agreement”),
among EV ENERGY PARTNERS, L.P., (the “Parent”), EV PROPERTIES, L.P., (the “Borrower”), the
Lenders party thereto from time to time and JPMORGAN CHASE BANK, N.A., as Administrative Agent. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

 

Pursuant to the provisions
of Section 5.03(f)(ii)(B) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner
of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its
direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)),
(iii) neither the undersigned nor any of its direct or indirect partners/members is a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a “10 percent shareholder”
of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, (v) none of its direct or indirect partners/members is
a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi)
no payments in connection with any Loan Document are effectively connected with the undersigned’s or its direct or indirect
partners’/members’ conduct of a U.S. trade or business.

 

The undersigned has furnished
the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the following forms from each of its direct
or indirect partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or W-8BEN-E or (ii) an IRS
Form W-8IMY accompanied by an IRS Form W-8BEN or W-8BEN-E from each of such partner’s/member’s beneficial owners that
is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information
provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent in writing
and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either
of the two calendar years preceding each such payment.

 

[Signature Page Follows]

 

      

     

    

 

	 	[Foreign Lender]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	[Address]

 

Dated:______________________, 20[  ]

 

      

     

    

 

EXHIBIT F-3

 

UNITED STATES TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Not Treated
As Partnerships For

U.S. Federal Income Tax Purposes)

 

Reference
is made to the Second Amended and Restated Credit Agreement, dated as of April 26, 2011 (as
amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Credit Agreement”),
among EV ENERGY PARTNERS, L.P., (the “Parent”), EV PROPERTIES, L.P., (the “Borrower”), the
Lenders party thereto from time to time and JPMORGAN CHASE BANK, N.A., as Administrative Agent. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

 

Pursuant to the provisions
of Section 5.03(f)(ii)(B) and Section 12.04(c) of the Credit Agreement, the undersigned hereby certifies that (i)
it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is
not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “10 percent shareholder”
of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, (iv) it is not a “controlled foreign corporation”
related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) no payments in connection with any Loan Document
are effectively connected with the undersigned’s conduct of a U.S. trade or business.

 

The undersigned has furnished
its participating Lender with a certificate of its non-U.S. person status on IRS Form W-8BEN or W-8BEN-E. By executing this certificate,
the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform
such Lender in writing and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding each such payment.

 

[Signature Page Follows]

 

      

     

    

 

	 	[Foreign Participant]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	[Address]

 

Dated:______________________, 20[  ]

 

      

     

    

 

EXHIBIT F-4

 

UNITED STATES TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Treated
As Partnerships For

U.S. Federal Income Tax Purposes)

 

Reference
is made to the Second Amended and Restated Credit Agreement, dated as of April 26, 2011 (as
amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Credit Agreement”),
among EV ENERGY PARTNERS, L.P., (the “Parent”), EV PROPERTIES, L.P., (the “Borrower”), the
Lenders party thereto from time to time and JPMORGAN CHASE BANK, N.A., as Administrative Agent. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

 

Pursuant to the provisions
of Section 5.03(f)(ii)(B) and 12.04(c) of the Credit Agreement, the undersigned hereby certifies that (i) it is the
sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members
are the sole beneficial owners of such participation, (iii) neither the undersigned nor any of its direct or indirect partners/members
is a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members
is a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, (v) none of its
direct or indirect partners/members is a “controlled foreign corporation” related to the Borrower as described in Section
881(c)(3)(C) of the Code, and (vi) no payments in connection with any Loan Document are effectively connected with the undersigned’s
or its direct or indirect partners’/members’ conduct of a U.S. trade or business.

 

The undersigned has furnished
its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its direct or indirect partners/members
that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or W-8BEN-E or (ii) and IRS Form W-8IMY accompanied by
an IRS Form W-8BEN or W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio
interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform such Lender in writing and (2) the undersigned shall have at all times furnished
such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is
to be made to the undersigned, or in either of the two calendar years preceding each such payment.

 

[Signature Page Follows]

 

      

     

    

  

	 	[Foreign Participant]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	[Address]

 

Dated:______________________, 20[  ]Exhibit 4.1

 

WARRANT
AGREEMENT

 

THIS
WARRANT AGREEMENT (“Agreement”) dated as of October 13, 2015 is between Capitol Acquisition Corp. III, a Delaware
corporation, (“Company”), and Continental Stock Transfer & Trust Company, a New York corporation (“Warrant
Agent”).

 

WHEREAS,
the Company has received a binding commitment from its sponsors and officers and directors to purchase an aggregate of 7,750,000
warrants, or additional amounts of warrants if the underwriters in the Public Offering (defined below) exercise their over-allotment
option, up to 8,650,000 warrants if the underwriters’ over-allotment option is exercised in full (the “Founders’
Warrants”), pursuant to a Founder Warrants Purchase Agreement (the “Founder Warrants Purchase Agreement”); and

 

WHEREAS,
the Company is engaged in a public offering (“Public Offering”) of units, each unit comprised of one share of Common
Stock (as defined below) and one half of one Public Warrant (as defined below) (the “Units”) and, in connection therewith,
has determined to issue and deliver up to 17,250,000 Warrants (“Public Warrants” and together with the Founders’
Warrants, the “Warrants”) to the public investors, each such whole Warrant evidencing the right of the holder thereof
to purchase one share of common stock of the Company, par value $0.0001 per share (“Common Stock”), for $11.50, subject
to adjustment as described herein; and

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission a Registration Statement on Form S-1, No. 333-206693 (“Registration
Statement”) for the registration, under the Securities Act of 1933, as amended (“Act”), of, among other securities,
the Warrants; and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection
with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants;
and

 

     

    	 	 	 

    

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company
and countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company,
and to authorize the execution and delivery of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1.            Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the
Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth
in this Agreement.

 

2.            Warrants.

 

2.1.          Form
of Warrant. Each Warrant shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto,
the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the
Board of Directors or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a
facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Warrant shall
have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with
the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2.          Uncertificated
Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and
be represented by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or
the facilities of The Depository Trust Company (the “Depositary”) or other book-entry depositary system, in each case
as determined by the Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued shall have
the same terms, force and effect as a certificated Warrant that has been duly countersigned by the Warrant Agent in accordance
with the terms of this Agreement.

 

2.3.          Effect
of Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned by
the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder
thereof.

 

    	 	2	 

    	 	 	 

    

 

2.4.         Registration.

 

2.4.1.        Warrant
Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original issuance
and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and
register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions
delivered to the Warrant Agent by the Company.

 

2.4.2.         Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and
treat the person in whose name such Warrant shall be registered upon the Warrant Register (“registered holder”) as
the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on the Warrant certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise
thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.5.           Detachability
of Warrants. The securities comprising the Units will not be separately transferable until the 52nd day following the date
of the prospectus or, if such 52nd day is not on a day, other than Saturday, Sunday or federal holiday, on which banks in New
York City are generally open for normal business (a “Business Day”), then on the immediately succeeding Business Day
following such date, or earlier with the consent of Citigroup Global Markets Inc. (“Citigroup”), but in no event will
Citigroup allow separate trading of the securities comprising the Units until the Company has filed a Current Report on Form 8-K
which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering including
the proceeds received by the Company from the exercise of the underwriters’ over-allotment option in the Public Offering.

 

2.6.           Founders’
Warrant Attributes. The Founders’ Warrants will be issued in the same form as the Public Warrants but they (i) will
not be redeemable by the Company and (ii) may be exercised for cash or on a cashless basis at the holder’s option, in either
case as long as the Founders’ Warrants are held by the initial purchasers or their affiliates and permitted transferees
(as prescribed in Section 5.6 hereof). Once a Founders’ Warrant is transferred to a holder other than an affiliate or permitted
transferee, it shall be treated as a Public Warrant hereunder for all purposes.

 

    	 	3	 

    	 	 	 

    

 

3.            Terms
and Exercise of Warrants

 

3.1.          Warrant
Price. Each whole Warrant shall, when countersigned by the Warrant Agent, entitle the registered holder thereof, subject to
the provisions of such Warrant and of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock
stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the last sentence
of this Section 3.1. The term “Warrant Price” as used in this Warrant Agreement refers to the price per share at which
the shares of Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the
Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days;
provided, that the Company shall provide at least twenty (20) days prior written notice of such reduction to registered holders
of the Warrants and, provided further that any such reduction shall be applied consistently to all of the Warrants.

 

3.2.          Duration
of Warrants. A Warrant may be exercised only during the period (“Exercise Period”) commencing on the later of
30 days after the consummation by the Company of a merger, share exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar business combination with one or more businesses or entities (“Business Combination”)
(as described more fully in the Registration Statement) or 12 months from the closing of the Public Offering, and terminating
at 5:00 p.m., New York City time on the earlier to occur of (i) five years from the consummation of a Business Combination and
(ii) the Redemption Date as provided in Section 6.2 of this Agreement (“Expiration Date”). Except with respect to
the right to receive the Redemption Price (as set forth in Section 6 hereunder), each Warrant not exercised on or before the Expiration
Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at the close
of business on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the
Expiration Date; provided, however, that the Company will provide at least twenty (20) days prior written notice of any such extension
to registered holders.

 

    	 	4	 

    	 	 	 

    

 

3.3.         Exercise
of Warrants.

 

3.3.1.        Payment.
Subject to the provisions of the Warrant and this Warrant Agreement, a Warrant, when countersigned by the Warrant Agent, may be
exercised by the registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor
as Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant,
duly executed, and by paying in full the Warrant Price for each share of Common Stock as to which the Warrant is exercised and
any and all applicable taxes due in connection with the exercise of the Warrant, as follows:

 

(a)            by
good certified check or good bank draft payable to the order of the Company (or as otherwise agreed to by the Company); or

 

(b)            in
the event of redemption pursuant to Section 6 hereof in which the Company’s management has elected to force all holders
of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of shares
of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying
the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by
(y) the Fair Market Value. Solely for purposes of this Section 3.3.1(b), the “Fair Market Value” shall mean the average
reported last sale price of the Common Stock for the 5 trading days ending on the third trading day prior to the date on which
the notice of redemption is sent to holders of Warrant pursuant to Section 6 hereof; or

 

(c)            with
respect to any Founders’ Warrants, so long as such Founders’ Warrants are held by the initial purchasers of the Founders’
Warrants or their permitted transferees, by surrendering such Founders’ Warrants for that number of shares of Common Stock
equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied
by the difference between the exercise price of the Warrants and the “Fair Market Value” by (y) the Fair Market Value;
provided, however, that no cashless exercise shall be permitted unless the Fair Market Value is equal to or higher than the exercise
price. Solely for purposes of this Section 3.3.1(c), the “Fair Market Value” shall mean the average reported last
sale price of the Common Stock for the 5 trading days ending on the third trading day prior to the date of exercise; or

 

    	 	5	 

    	 	 	 

    

 

(d)            in
the event the registration statement required by Section 7.4 hereof is not effective and current within ninety (90) days after
the closing of a Business Combination, by surrendering such Warrants for that number of shares of Common Stock equal to the quotient
obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference
between the exercise price of the Warrants and the “Fair Market Value” by (y) the Fair Market Value; provided, however,
that no cashless exercise shall be permitted unless the Fair Market Value is equal to or higher than the exercise price. Solely
for purposes of this Section 3.3.1(d), the “Fair Market Value” shall mean the average reported last sale price of
the Common Stock for the 5 trading days ending on the day prior to the date of exercise.

 

3.3.2.       Issuance
of Certificates. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the
Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates for the
number of shares of Common Stock to which he is entitled, registered in such name or names as may be directed by him, her or it,
and if such Warrant shall not have been exercised in full, a new countersigned Warrant for the number of shares as to which such
Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company be required to net cash settle
the Warrant exercise. No Warrant shall be exercisable and the Company shall not be obligated to issue shares of Common Stock upon
exercise of a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered, qualified or deemed to
be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the event that the
condition in the immediately preceding sentence is not satisfied with respect to a Warrant, the holder of such Warrant shall not
be entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the purchaser of a
Unit containing such Public Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock
underlying such Unit. Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such
exercise would be unlawful.

 

3.3.3.       Valid
Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall
be validly issued, fully paid and nonassessable.

 

    	 	6	 

    	 	 	 

    

 

3.3.4.       Date
of Issuance. Each person in whose name any such certificate for shares of Common Stock is issued shall for all purposes be
deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and payment of the
Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and
payment is a date when the share transfer books of the Company are closed, such person shall be deemed to have become the holder
of such shares at the close of business on the next succeeding date on which the share transfer books are open.

 

3.3.5.       Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions
contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or
it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s
Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise,
such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially
own in excess of 9.8% (the “Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving
effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned
by such person and its affiliates shall include the number of shares of Common Stock issuable upon exercise of the Warrant with
respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock that would be issuable
upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and
(y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned
by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants)
subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding
sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of outstanding
shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company’s
most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with
the Securities and Exchange Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other
notice by the Company or Continental Stock Transfer & Trust Company setting forth the number of shares of Common Stock outstanding.
For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business
Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any case, the number
of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity securities
of the Company by the holder and its affiliates since the date as of which such number of outstanding shares of Common Stock was
reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage
applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not
be effective until the sixty-first (61st) day after such notice is delivered to the Company.

 

    	 	7	 

    	 	 	 

    

 

4.            Adjustments.

 

4.1.          Stock
Dividends - Split Ups. If after the date hereof, the number of outstanding shares of Common Stock is increased by a stock
dividend payable in shares of Common Stock, or by a split up of shares of Common Stock, or other similar event, then, on the effective
date of such stock dividend, split up or similar event, the number of shares of Common Stock issuable on exercise of each Warrant
shall be increased in proportion to such increase in outstanding shares of Common Stock.

 

4.2.          Aggregation
of Shares. If after the date hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination,
reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such
consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable
on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

 

4.3           Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a cash dividend or make
a distribution in cash, securities or other assets to the holders of the shares of Common Stock or other shares of the Company’s
capital stock into which the Warrants are convertible (an “Extraordinary Dividend”), then the Warrant Price shall
be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair
market value (as determined by the Company’s Board of Directors, in good faith) of any securities or other assets paid on
each share of Common Stock in respect of such Extraordinary Dividend; provided, however, that none of the following shall be deemed
an Extraordinary Dividend for purposes of this provision: (a) any adjustment described in subsection 4.1 above, (b) any cash dividends
or cash distributions which, when combined on a per share basis with all other cash dividends and cash distributions paid on the
Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution does not exceed $0.50
(as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash
dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock
issuable on exercise of each Warrant) but only with respect to the amount of the aggregate cash dividends or cash distributions
equal to or less than $0.50, (c) any payment to satisfy the conversion rights of the holders of the shares of Common Stock in
connection with a proposed initial Business Combination or (d) any payment in connection with the Company’s liquidation
and the distribution of its assets upon its failure to consummate a Business Combination. Solely for purposes of illustration,
if the Company, at a time while the Warrants are outstanding and unexpired, pays a cash dividend of $0.35 and previously paid
an aggregate of $0.40 of cash dividends and cash distributions on the Common Stock during the 365-day period ending on the date
of declaration of such $0.35 dividend, then the Warrant Price will be decreased, effectively immediately after the effective date
of such $0.35 dividend, by $0.25 (the absolute value of the difference between $0.75 (the aggregate amount of all cash dividends
and cash distributions paid or made in such 365-day period, including such $0.35 dividend) and $0.50 (the greater of (x) $0.50
and (y) the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period prior to such $0.35
dividend)).

 

    	 	8	 

    	 	 	 

    

 

4.4           Adjustments
in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted,
as provided in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant
Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock
purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be
the number of shares of Common Stock so purchasable immediately thereafter.

 

4.5.          Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common
Stock (other than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the Common Stock),
or in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger
in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the
Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders
shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants
and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise
of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable
upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer,
that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior
to such event; and if any reclassification also results in a change in the Common Stock covered by Section 4.1, 4.2 or 4.3, then
such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3, 4.4 and this Section 4.5. The provisions of this Section 4.5
shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.

 

    	 	9	 

    	 	 	 

    

 

4.6.          Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from
such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a
Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon
the occurrence of any event specified in Sections 4.1, 4.2, 4.3, 4.4 or 4.5, then, in any such event, the Company shall give written
notice to each Warrant holder, at the last address set forth for such holder in the Warrant Register, of the record date or the
effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of
such event.

 

4.7.          No
Fractional Warrants or Shares. No fractional Warrants will be issued hereunder. Additionally, notwithstanding any provision
contained in this Warrant Agreement to the contrary, the Company shall not issue fractional shares upon exercise of Warrants.
If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise
of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round up to the nearest whole
number of shares of Common Stock to be issued to the Warrant holder.

 

    	 	10	 

    	 	 	 

    

 

4.8.          Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued
pursuant to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant
that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned,
whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.9
          Other Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i)
avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case,
the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national
standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary
to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such
adjustment. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended
in such opinion.

 

5.            Transfer
and Exchange of Warrants.

 

5.1.          Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant
Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by
appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants
shall be issued and the old Warrant shall be cancelled by the Warrant Agent. The Warrants so cancelled shall be delivered by the
Warrant Agent to the Company from time to time upon request.

 

5.2.          Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange
or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the registered
holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that in the event
that a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue
new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel for the Company stating that such
transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

 

    	 	11	 

    	 	 	 

    

 

5.3.          Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in
the issuance of a warrant certificate for a fraction of a warrant.

 

5.4.          Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5.          Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever
required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6.          Founders’
Warrants. The Warrant Agent shall not register any transfer of Founders’ Warrants until 30 days after the consummation
by the Company of an initial Business Combination, except for transfers (i) to the Company’s officers, directors, employees,
consultants or their affiliates, (ii) to a holder’s officers, directors, employees or members upon the holder’s liquidation,
in each case if the holder is an entity, (iii) by bona fide gift to a member of the holder’s immediate family or to a trust,
the beneficiary of which is the holder or a member of the holder’s immediate family for estate planning purposes, (iv) by
virtue of the laws of descent and distribution upon death, (v) pursuant to a qualified domestic relations order, (vi) to the Company
for no value for cancellation in connection with the consummation of a Business Combination or (vii) by private sales made at
or prior to the consummation of a Business Combination at prices no greater than the price at which the Founders’ Warrants
were originally purchased, in each case (except for clause (vi)) on the condition that prior to such registration for transfer,
the Warrant Agent shall be presented with written documentation pursuant to which each transferee or the trustee or legal guardian
for such transferee agrees to be bound by the terms of the Founder Warrants Purchase Agreement.

 

    	 	12	 

    	 	 	 

    

 

6.            Redemption.

 

6.1.          Redemption.
Subject to Section 6.4 hereof, not less than all of the outstanding Public Warrants may be redeemed, at the option of the Company,
at any time while they are exercisable and prior to their expiration (so long as there is a current registration statement in
effect with respect to the shares of Common Stock underlying the Warrants), at the office of the Warrant Agent, upon the notice
referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption Price”), provided that the last sales price
of the Common Stock equals or exceeds $18.00 per share (subject to adjustment in accordance with Section 4 hereof), on each of
twenty (20) trading days within any thirty (30) trading day period ending on the third business day prior to the date on which
notice of redemption is given.

 

6.2.          Date
Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Public Warrants, the Company
shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail,
postage prepaid, by the Company not less than 30 days prior to the Redemption Date to the registered holders of the Warrants to
be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided
shall be conclusively presumed to have been duly given whether or not the registered holder received such notice.

 

6.3.          Exercise
After Notice of Redemption. The Public Warrants may be exercised, for cash (or on a “cashless basis” in accordance
with Section 3 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section
6.2 hereof and prior to the Redemption Date. In the event the Company determines to require all holders of Public Warrants to
exercise their Warrants on a “cashless basis” pursuant to Section 3.3.1(b), the notice of redemption will contain
the information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Warrants, including
the “Fair Market Value” in such case. On and after the Redemption Date, the record holder of the Warrants shall have
no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

6.4           Exclusion
of Founders’ Warrants. The Company agrees that the redemption rights provided in this Section 6 shall not apply to the
Founders’ Warrants if at the time of the redemption such Founders’ Warrants continue to be held by the initial purchasers
or their permitted transferees. However, once such Founders’ Warrants are transferred (other than to permitted transferees
under Section 5.6), the Company may redeem the Founders’ Warrants in the same manner as the Public Warrants.

 

    	 	13	 

    	 	 	 

    

 

7.            Other
Provisions Relating to Rights of Holders of Warrants.

 

7.1.          No
Rights as Stockholder. A Warrant does not entitle the registered holder thereof to any of the rights of a stockholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights
to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors
of the Company or any other matter.

 

7.2.          Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant
Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated
Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen,
mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or
not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3.          Reservation
of Shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued
shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this
Agreement.

 

7.4.          Registration
of Shares of Common Stock. The Company agrees that as soon as practicable after the closing of its initial Business Combination,
it shall use its best efforts to file with the Securities and Exchange Commission a registration statement for the registration,
under the Act, of the shares of Common Stock issuable upon exercise of the Warrants, and it shall use its best efforts to take
such action as is necessary to register or qualify for sale, in those states in which the Warrants were initially offered by the
Company, the shares of Common Stock issuable upon exercise of the Warrants, to the extent an exemption is not available. The Company
will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement
until the expiration of the Warrants in accordance with the provisions of this Agreement. In addition, the Company agrees to use
its best efforts to register such securities under the blue sky laws of the states of residence of the exercising warrant holders
to the extent an exemption is not available. If any such registration statement has not been declared effective by the 90th day
following the closing of the Business Combination, holders of the Warrants shall have the right, during the period beginning on
the 91st day after the closing of the Business Combination and ending upon such registration statement being declared effective
by the Securities and Exchange Commission, and during any other period when the Company shall fail to have maintained an effective
registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on
a “cashless basis” as determined in accordance with Section 3.3.1(d). The Company shall provide the Warrant Agent
with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i)
the exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not required to be registered under the
Act and (ii) the shares of Common Stock issued upon such exercise will be freely tradable under U.S. federal securities laws by
anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and, accordingly, will not be
required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants have been exercised
on a cashless basis, the Company shall continue to be obligated to comply with its registration obligations under the first three
sentences of this Section 7.4.

 

    	 	14	 

    	 	 	 

    

 

8.            Concerning
the Warrant Agent and Other Matters.

 

8.1.        Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company
shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

 

8.2.        Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1.        Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of
30 days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant
(who shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the
Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s
cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing
under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and
State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination
by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers,
rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant
Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant
Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all
the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent
the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting
in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

    	 	15	 

    	 	 	 

    

 

8.2.2.        Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof
to the predecessor Warrant Agent and the transfer agent for the shares of Common Stock not later than the effective date of any
such appointment.

 

8.2.3.        Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor
Warrant Agent under this Agreement without any further act.

 

8.3.        Fees
and Expenses of Warrant Agent.

 

8.3.1.        Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will
reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its
duties hereunder.

 

    	 	16	 

    	 	 	 

    

 

8.3.2.        Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged,
and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent
for the carrying out or performing of the provisions of this Agreement.

 

8.4.        Liability
of Warrant Agent.

 

8.4.1.        Reliance
on Company Statement. Whenever in the performance of its duties under this Warrant Agreement, the Warrant Agent shall deem
it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action
hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be
conclusively proved and established by a statement signed by the Chief Executive Officer or Chairman of the Board of Directors
of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered
in good faith by it pursuant to the provisions of this Agreement.

 

8.4.2.        Indemnity.
The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable
counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant
Agent’s gross negligence, willful misconduct, or bad faith.

 

8.4.3.        Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity
or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of
any covenant or condition contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required
under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining
of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any
Warrant or as to whether any shares of Common Stock will, when issued, be valid and fully paid and nonassessable.

 

    	 	17	 

    	 	 	 

    

 

8.5.          Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised
and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of shares of Common
Stock through the exercise of Warrants.

 

9.            Miscellaneous
Provisions.

 

9.1.          Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

9.2.          Notices.
Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Warrant Agent or by the holder
of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent
by certified mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until
another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Capitol
Acquisition Corp. III

509 7th
Street, N.W.

Washington,
D.C. 20004

Attn:
Mark D. Ein, Chief Executive Officer

 

Any notice,
statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the
Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private
courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing
by the Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company

17 Battery
Place

New York,
New York 10004

Attn:
Compliance Department

 

    	 	18	 

    	 	 	 

    

 

with a
copy in each case to:

 

Graubard
Miller

The Chrysler
Building

405 Lexington
Avenue

New York,
New York 10174

Attn:
David Alan Miller, Esq.

 

and

 

Davis
Polk & Wardwell LLP

450 Lexington
Avenue

New York,
New York 10017

Attn:
Deanna L. Kirkpatrick, Esq.

 

and

 

Citigroup
Global Markets Inc.

388
Greenwich Street

New
York, New York 10013

Attn:
General Counsel

Fax No.:
(212) 816-7912

 

and

 

Deutsche
Bank Securities Inc.

60
Wall Street

New
York, New York 10005

Attention:
Equity Capital Markets – Syndicate Desk

 

and

Deutsche
Bank Securities Inc.

60 Wall
Street, 36th Floor

New York,
New York 10005

Attention:
General Counsel

Fax No.:
(212) 797-4561

 

and

 

Credit
Suisse Securities (USA) LLC

Eleven
Madison Avenue

New
York, New York 10010-3629

Attention:
LCD-IBD

Fax
No. (212) 325-3629

 

    	 	19	 

    	 	 	 

    

 

9.3.          Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects
by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application
of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising
out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United
States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or
certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

9.4.          Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto
and the registered holders of the Warrants any right, remedy, or claim under or by reason of this Warrant Agreement or of any
covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements
contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and
assigns and of the registered holders of the Warrants.

 

9.5.          Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant
Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant
Agent may require any such holder to submit his Warrant for inspection by it.

 

9.6.          Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

9.7.          Effect
of Headings. The Section headings herein are for convenience only and are not part of this Warrant Agreement and shall not
affect the interpretation thereof.

 

    	 	20	 

    	 	 	 

    

 

9.8           Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any
ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other
provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and
that the parties deem shall not adversely affect the interest of the registered holders. All other modifications or amendments,
including any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the written consent or vote
of the registered holders of a majority of the then outstanding Warrants. Notwithstanding the foregoing, the Company may lower
the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent
of the registered holders.

 

9.9           Trust
Account Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust account
established by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust
Account”), including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance.
In the event that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent will pursue such claim
solely against the Company and not against the property held in the Trust Account.

 

9.10         Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Warrant Agreement or of any other term or provision hereof. Furthermore, in lieu of any
such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement
a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

    	 	21	 

    	 	 	 

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	CAPITOL
    ACQUISITION CORP. III
	 	 	 
	 	 	 
	 	By:	/s/
    L. Dyson Dryden
	 	 	Name:
    L. Dyson Dryden
	 	 	Title:
      Chief Financial Officer
	 	 	 
	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/
    Henry Farrell
	 	 	Name:
    Henry Farrell
	 	 	Title:
      Vice President

 

 

 22

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