Document:

Amendment No.1 and Agreement to the Second Amended and Restated Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDMENT NO. 1 AND AGREEMENT dated as of November 22, 2006 (this
“Amendment”), to the Second Amended and Restated Credit Agreement dated as of June 22, 2006 (the “Credit Agreement”), among ATP OIL & GAS CORPORATION (the
“Borrower”), the Lenders (as defined therein) and CREDIT SUISSE, as administrative agent (in such capacity, the “Administrative Agent”) and as collateral agent (in such capacity, the
“Collateral Agent”) for the Lenders. 
 A. Pursuant to the Credit Agreement, the Lenders have extended credit to the
Borrower. 
 B. The Borrower has requested that the existing Lenders or other persons that will thereby become lenders (collectively, the
“Additional Lenders”) make Additional Term Loans (as defined below) to the Borrower on the Additional Term Loan Closing Date (as defined below), in an aggregate principal amount of $375,000,000, subject to the terms and
conditions set forth herein. 
 C. The Borrower has informed the Administrative Agent that it intends to obtain a $175,000,000 senior secured
second lien term loan facility (the “Second Lien Facility”) and use the proceeds thereof to repurchase, redeem or otherwise refinance the Borrower’s Existing Preferred Stock. 
 D. The Borrower has further requested certain amendments to the Credit Agreement as set forth herein. 
 E. The proceeds of the Additional Term Loans will be used by the Borrower (i) to fund development activities, (ii) together with the proceeds
of the Second Lien Facility Documents, to repurchase, redeem or otherwise refinance the Existing Preferred Stock and (iii) for other general corporate purposes of the Borrower. 
 F. The Additional Lenders are willing to make the Additional Term Loans and to agree to such amendments on the terms and subject to the conditions set
forth herein. 
 G. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Credit Agreement.

 Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. Defined Terms. As used in this Amendment,
the following terms shall have the meanings set forth below: 
 “Additional Term Loan Commitment”
shall mean, with respect to each Additional Lender, the commitment of such Additional Lender to make Additional Term Loans on the Additional Term Loan Closing Date as set forth on Schedule I hereto. The aggregate amount of Additional Term Loan
Commitments shall be $375,000,000. 

 “Additional Term Loans” shall mean the term loans made by the
Additional Lenders to the Borrower pursuant to Section 2(a) hereof, the terms and provisions of which shall be identical to the existing Term Loans. 
 SECTION 2. Additional Term Loans. (a) Subject to the terms and conditions set forth herein and relying upon the representations and warranties set forth herein and in the other Loan Documents, each
Additional Lender agrees, severally and not jointly, to make an Additional Term Loan to the Borrower on the Additional Term Loan Closing Date in a principal amount not to exceed its Additional Term Loan Commitment. Amounts paid or prepaid in respect
of Additional Term Loans may not be reborrowed. 
 (b) The Additional Term Loan Commitments shall automatically terminate upon the earlier to
occur of (a) the making of the Additional Term Loans on the Additional Term Loan Closing Date and (b) 5:00 p.m., New York City time, on December 1, 2006. 
 (c) Unless the context shall otherwise require, the terms “Term Loans” and “Loans” as used in the Credit Agreement shall include the Additional Term Loans, and the term “Lenders” as used
herein and in the Credit Agreement shall include each person that has an Additional Term Loan Commitment or that has made an Additional Term Loan (other than any such person that has ceased to be a party to the Credit Agreement pursuant to an
Assignment and Acceptance). 
 SECTION 3. Amendments. (a) The definition of the term “Applicable Percentage” set forth
in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 ““Applicable Percentage” shall mean, for any day (a) with respect to any Eurodollar Term Loan, 3.50%, or (b) with respect to any ABR Term Loan, 2.50%.”. 
 (b) The definition of the term “Current Ratio” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its
entirety to read as follows: 
 ““Current Ratio” shall mean, at any time, the ratio of Current
Assets at such time to Current Liabilities at such time. For purposes of calculating the Current Ratio, (a) each of Current Assets and Current Liabilities shall exclude (i) gains and losses resulting from the mark-to-market of commodity
price risk management transactions in accordance with FASB 133 and (ii) non-cash allocations to expense and other non-cash adjustments in accordance with FASB 143 and (b) Current Assets shall include the amount of undrawn commitments under
the Revolving Facility.”. 
 (c) The definition of the term “Reserve Reports” set forth in Section 1.01 of the Credit
Agreement is hereby amended by deleting the words: 
 “, and (c) each quarterly reserve report prepared by the
Borrower in form and detail reasonably acceptable to the Administrative Agent”. 
  

 2 

 (d) Effective upon the making of the Additional Term Loans on the Additional Term Loan Closing Date, the
table appearing in Section 2.11 (Repayment of Borrowings) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
  

				
	 “Repayment Date
	  	Amount
	 December 31, 2006
	  	$	2,246,719
	 March 31, 2007
	  	$	2,246,719
	 June 30, 2007
	  	$	2,246,719
	 September 30, 2007
	  	$	2,246,719
	 December 31, 2007
	  	$	2,246,719
	 March 31, 2008
	  	$	2,246,719
	 June 30, 2008
	  	$	2,246,719
	 September 30, 2008
	  	$	2,246,719
	 December 31, 2008
	  	$	2,246,719
	 March 31, 2009
	  	$	2,246,719
	 June 30, 2009
	  	$	219,055,077
	 September 30, 2009
	  	$	219,055,078
	 December 31, 2009
	  	$	219,055,077
	 Maturity Date
	  	$	219,055,078

 (e) Section 2.13(g) of the Credit Agreement is hereby amended and restated in its entirety to
read as follows: 
 “(g) Notwithstanding the foregoing, any Lender may elect, by written notice to the Administrative
Agent at least two Business Days prior to the applicable prepayment date (or such shorter period as may be acceptable to the Administrative Agent), to decline all (but not less than all) of any mandatory prepayment of its Loans pursuant to this
Section 2.13 (such declined amounts, the “Declined Proceeds”). Any Declined Proceeds shall be offered to the Lenders not so declining such prepayment (with such Lenders having the right to decline any prepayment with
Declined Proceeds in the same manner provided for in the previous sentence). To the extent such Lenders elect to decline their pro rata shares of such Declined Proceeds, such remaining Declined Proceeds shall be applied in accordance with the
mandatory prepayment provisions of the Second Lien Facility Documents. Notwithstanding any provision herein to the contrary, nothing herein shall limit the Borrower’s ability to make optional prepayments in accordance with
Section 2.12.”. 
  

 3 

 (f) Section 2.22 is hereby added to the Credit Agreement to read as follows:

 “SECTION 2.22. Revolving Facility. The Borrower may at any time or from time to time after the effective
date of this Agreement, by notice to the Administrative Agent, implement the addition of a senior secured revolving credit facility (the “Revolving Facility”) to be made available under this Agreement in an aggregate
principal amount not to exceed $50,000,000; provided that both at the time of any such notice and upon the effectiveness of any Revolving Facility Amendment referred to below, no Default or Event of Default shall exist. The Revolving Facility
(a) shall rank pari passu in right of payment and of security with the Term Loans, (b) for each ABR Borrowing or Eurodollar Borrowing thereunder, as applicable, shall bear interest at the rate, and such interest shall be payable, as set
forth in Section 2.06, (c) shall mature on October 14, 2009 and (d) shall otherwise have such terms and conditions as shall be determined by the Borrower and the lenders thereunder, which shall consist of banks or other financial
institutions reasonably satisfactory to the Administrative Agent (the “Revolving Lenders”). The Revolving Facility shall be implemented under this Agreement pursuant to an amendment (a “Revolving Facility
Amendment”) to this Agreement (which may take the form of an amendment and restatement of this Agreement) and, as appropriate, the other Loan Documents, executed by the Borrower, each Revolving Lender and the Administrative Agent. The
Revolving Facility Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the
Borrower, to effect the provisions of this Section 2.22. This Section 2.22 shall supersede any provisions in Section 9.08 to the contrary.”. 
 (g) Section 2.23 is hereby added to the Credit Agreement to read as follows: 
 “SECTION 2.23 Application of Prepayment by Type of Term Loans. (a) In connection with any voluntary prepayments by the Borrower pursuant to Section 2.12, the amount thereof shall be applied first to ABR Loans to
the full extent thereof before application to Eurodollar Loans, in each case in a manner that minimizes the amount of any payments required to be made by the Borrower pursuant to Section 2.16. 
 (b) In connection with any mandatory prepayments by the Borrower of the Terms Loans pursuant to Section 2.13, the amount thereof
shall be applied on a pro rata basis to the then outstanding Term Loans being prepaid irrespective of whether such outstanding Term Loans are ABR Loans or Eurodollar Loans; provided that if no Lenders exercise the right to waive a given
mandatory prepayment of the Term Loans pursuant to Section 2.13(g), then, with respect to such mandatory prepayment, the amount of such mandatory prepayment shall be applied first to Term Loans that are ABR Loans to the full extent thereof
before application to Term Loans that are Eurodollar Loans in a manner that minimizes the amount of any payments required to be made by the Borrower pursuant to Section 2.16.” 
  

 4 

 (h) Section 3.04 of the Credit Agreement is hereby amended by adding a clause at the end thereof as
follows: 
 “and (d) filings required by the Securities Exchange Act of 1934, as amended.”. 
 (i) Section 5.04(d) of the Credit Agreement is hereby amended by deleting the words: 
 “or (iii) a quarterly Reserve Report (as so described) in the case of a Reserve Report delivered in connection with other
quarterly financial statements”. 
 (j) Section 5.08 of the Credit Agreement is hereby amended by adding a clause at the end
thereof as follows: 
 “and, together with the proceeds of the Second Lien Facility Documents, to repurchase, redeem or
otherwise refinance the Existing Preferred Stock.”. 
 (k) Section 5.09(c) of the Credit Agreement is hereby amended by replacing
the reference to “$10,000,000” in the sixth line thereof with a reference to “$25,000,000”. 
 (l)
Section 6.06(a)(ii)(B) of the Credit Agreement is hereby amended by adding a clause at the end thereof as follows: 
 “or (z) any additional Term Loans made pursuant to (1) Amendment No. 1 and Agreement dated as of November 22, 2006, among the Borrower, the Subsidiary Guarantors, Bayerische Hypo-und Vereinsbank AG, New York Branch,
Credit Suisse, as Administrative Agent, and the Required Lenders or (2) any future amendment to this Agreement that provides for the making of additional Term Loans hereunder”. 
 (m) Section 6.09(b)(i)(B) of the Credit Agreement is hereby amended by adding a clause at the end thereof as follows: 
 “, except with Declined Proceeds applied in accordance with the mandatory prepayment provisions of the Second Lien Credit Agreement
as contemplated by Section 2.13(g), or, in the case of Declined Proceeds that are retained by the Borrower after having been declined by (I) the Lenders pursuant to Section 2.13(g) and (II) the lenders under the Second Lien
Credit Agreement pursuant to the mandatory prepayment provisions thereof, with such Declined Proceeds in accordance with the voluntary prepayment provisions of the Second Lien Credit Agreement.”. 
 SECTION 4. Representations and Warranties. To induce the other parties hereto to enter into this Amendment, the Borrower represents and warrants
to the Administrative Agent, the Collateral Agent and each of the Lenders that, as of the Amendment Effective Date: 
  

 5 

 (a) This Amendment has been duly authorized, executed and delivered by the Borrower and each of the
Subsidiary Guarantors and the Credit Agreement, as amended hereby, constitutes a legal, valid and binding obligation of the Borrower, and this Amendment constitutes a legal, valid and binding obligation of the Borrower and each Subsidiary Guarantor.

 (b) The representations and warranties set forth in Article III of the Credit Agreement are true and correct in all material respects on
and as of the Amendment Effective Date with the same effect as though made on and as of the Amendment Effective Date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations
and warranties were true and correct in all material respects as of such earlier date). 
 (c) No Default or Event of Default has occurred
and is continuing. 
 SECTION 5. Other Agreements. (a) The Lenders hereby acknowledge and agree that, (i) notwithstanding
anything in the Credit Agreement to the contrary, for purposes of determining whether (x) the Borrower is in Pro Forma Financial Covenant Compliance in connection with the Borrower’s incurrence of Indebtedness under the Second Lien
Facility and (y) the condition set forth in Section 6(b)(iii) of this Amendment has been satisfied, Consolidated EBITDAX for the applicable period for purposes of determining the Interest Coverage Ratio and the Leverage Ratio shall be
deemed to equal Consolidated EBITDAX for the fiscal quarter ended September 30, 2006, multiplied by 4, (ii) for purposes of determining the Interest Coverage Ratio for the period of four consecutive quarters ended December 31, 2006
and March 31, 2007, Consolidated EBITDAX shall be deemed to be equal to (y) Consolidated EBITDAX for the two consecutive fiscal quarters ended December 31, 2006, multiplied by 2 and (z) Consolidated EBITDAX for the three
consecutive fiscal quarters ended March 31, 2007, multiplied by 4/3, respectively, and (iii) for purposes of determining the Leverage Ratio at December 31, 2006 and March 31, 2007, Consolidated EBITDAX for the period of four
consecutive fiscal quarters most recently ended on or prior to such dates, shall be deemed to be equal to (y) Consolidated EBITDAX for the two consecutive fiscal quarters ended December 31, 2006, multiplied by 2 and (z) Consolidated
EBITDAX for the three consecutive fiscal quarters ended March 31, 2007, multiplied by 4/3, respectively. 
 (b) The Lenders hereby
authorize the Collateral Agent to enter into an intercreditor agreement substantially the form of Annex I hereto (the “Intercreditor Agreement”) and to assume the role of First Lien Collateral Agent (as defined therein)
thereunder. 
 (c) With its signature hereto, Bayerische Hypo-und Vereinsbank AG, New York Branch commits to provide $50,000,000 of aggregate
principal amount of the Revolving Facility at such time as the Revolving Facility is implemented pursuant to Section 2.22 of the Credit Agreement. 
 SECTION 6. Effectiveness. (a) This Amendment shall become effective as of the date first set forth above on the date (the “Amendment Effective Date”) on which the 
  

 6 

 Administrative Agent (or its counsel) shall have received counterparts of this Amendment that, when taken together, bear
the signatures of the Borrower, each Subsidiary Guarantor, the Administrative Agent and the Requisite Lenders. As used herein, the term “Requisite Lenders” shall mean (x) the Required Lenders and (y) each Additional Lender.

 (b) The obligations of the Lenders with Additional Term Loan Commitments to make Additional Term Loans are subject to the satisfaction of
each of the following conditions (the date on which such conditions are satisfied, the “Additional Term Loan Closing Date”): 
 (i) The Administrative Agent shall have received a notice of the Borrowing of the Additional Term Loans that satisfies the requirements of Section 2.03 of the Credit Agreement (with the reference to the
Restatement Date in the first sentence thereof deemed to be a reference to the Additional Term Loan Closing Date). 
 (ii) The
representations and warranties set forth in Article III of the Credit Agreement and in each other Loan Document shall be true and correct in all material respects on and as of the date of such Borrowing with the same effect as though made on and as
of such date, except to the extent such representations and warranties expressly relate to an earlier date. 
 (iii)(A) The Borrower and each other Loan Party shall be in compliance with all the terms and provisions set forth herein, in the Credit Agreement and in each other Loan Document on its part to be observed or performed at or prior to
the time of such Borrowing, (B) subject to the provisions set forth in Section 5(a) of this Amendment, the Borrower shall be in pro forma compliance with the covenants set forth in Sections 6.12, 6.13, 6.14 and 6.15 of the Credit Agreement
as of the last day of the most recently ended fiscal quarter after giving effect to the making of the Additional Term Loans and (C) at the time of and immediately after such Borrowing, no Event of Default or Default shall have occurred and be
continuing. 
 (iv) The Administrative Agent shall have received, on behalf of itself and the Lenders, a favorable written
opinion of (A) Jackson Walker L.L.P., counsel for the Borrower and (B) from each local counsel listed on Schedule II hereto, in each case (x) dated the Additional Term Loan Closing Date, (y) addressed to the Administrative Agent
and the Lenders and (z) covering such other matters relating to this Amendment and the transactions contemplated hereby as the Administrative Agent shall reasonably request and otherwise in form and substance reasonably satisfactory to the
Administrative Agent, and the Borrower hereby requests such counsel to deliver such opinions. 
 (v) All legal matters
incident to this Amendment and to the Borrowing of the Additional Term Loans shall be satisfactory to the Lenders and to the Administrative Agent. 
  

 7 

 (vi) The Administrative Agent shall have received (A) a certificate, dated the
Additional Term Loan Original Closing Date and signed by the Secretary or Assistant Secretary of each Loan Party, certifying that (1) except as set forth on any schedule attached thereto, the certificate or articles of incorporation of such
Loan Party previously delivered on the Original Closing Date (or such later date on which such person became a Loan Party) have not been amended since the date of such delivery, (2) except as set forth on any schedule attached thereto, the
by-laws of such Loan Party as in effect and delivered on the Closing Date (or such later date on which such person became a Loan Party) have not been amended since the date of such delivery, (3) attached thereto is a true and complete copy of
resolutions duly adopted by the Board of Directors or other equivalent governing body of such Loan Party authorizing the execution, delivery and performance of this Amendment, the credit agreement evidencing the Second Lien Facility being entered
into concurrently herewith, and the Intercreditor Agreement, and, in the case of the Borrower, the Borrowings of the Additional Term Loans and the borrowings under the Second Lien Facility, and that such resolutions have not been modified, rescinded
or amended and are in full force and effect, (4) attached thereto is a certificate as to the good standing of such Loan Party as of a recent date by the Secretary of State (or other similar official) of the jurisdiction of its organization, and
(5) as to the incumbency and specimen signature of each officer executing this Amendment, the Intercreditor Agreement or any other document delivered in connection therewith on behalf of such Loan Party; (B) a certificate of another
officer as to the incumbency and specimen signature of the Secretary or Assistant Secretary executing the certificate pursuant to clause (A) above; and (C) such other documents as the Lenders or the Administrative Agent may reasonably
request. 
 (vii) The Administrative Agent shall have received a certificate, dated the Additional Term Loan Closing Date and
signed by a Financial Officer of the Borrower, confirming compliance with the conditions precedent set forth in paragraphs (ii) and (iii) of this Section 6(b). 
 (viii) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Additional Term Loan
Closing Date, including, to the extent invoiced, reimbursement or payment of all reasonable out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder or under any other Loan Document. 
 (ix) The Security Documents shall be in full force and effect on the Additional Term Loan Closing Date (or, in the case of Mortgages, on
such date as the Borrower and Collateral Agent shall reasonably agree), and each document (including modifications to the Mortgages and the Foreign Pledge Agreements reflecting, among other things, the making of the Additional Term Loans and the
entry into the Second Lien Facility) required by law or reasonably requested by the Collateral Agent to be filed, registered or recorded in order to create or continue in favor of the Collateral Agent for the 
  

 8 

 benefit of the Secured Parties a valid, legal and perfected first-priority Lien on, and security interest
in, the Collateral (subject to any Liens expressly permitted by Section 6.02 of the Credit Agreement) shall have been delivered to the Collateral Agent. The Pledged Collateral (as defined in the Guarantee and Collateral Agreement) and the
Foreign Pledged Collateral shall be duly and validly pledged under the Guarantee and Collateral Agreement or the applicable Foreign Pledge Agreement, as the case may be, to the Collateral Agent for the benefit of the Secured Parties, and
certificates representing such Pledged Collateral and Foreign Pledged Collateral (to the extent certificated), in each case accompanied by instruments of transfer and stock powers endorsed in blank, shall have been delivered to the Collateral Agent
(or in the case of any uncertificated Foreign Pledged Collateral, arrangements consistent with applicable local law and reasonably satisfactory to the Collateral Agent in respect thereof shall have been implemented). 
 (x) The Collateral Agent shall have received a certificate, dated the Additional Term Loan Closing Date and signed by a Responsible
Officer of the Borrower, certifying that, except as set forth on any schedule attached thereto, the information set forth on the Perfection Certificate is complete, correct and accurate as of the Additional Term Loan Closing Date. 
 (xi) The Intercreditor Agreement shall have been duly authorized, executed and delivered by the Borrower, the Subsidiary Guarantors, the
First Lien Collateral Agent (as defined therein) and the Second Lien Collateral Agent (as defined therein). 
 SECTION 7. Effect of
Amendment. Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders, the Collateral Agent or the Administrative
Agent under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all
of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle any Loan Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms,
conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. This Amendment shall apply and be effective only with respect to the provisions of the Credit
Agreement specifically referred to herein. After the date hereof, any reference to the Credit Agreement shall mean the Credit Agreement, as modified hereby. This Amendment shall constitute a “Loan Document” for all purposes of the Credit
Agreement and the other Loan Documents. 
 SECTION 8. Counterparts. This Amendment may be executed in any number of counterparts and
by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same contract. Delivery of an executed counterpart of
a signature page of this Amendment by facsimile transmission shall be as effective as delivery of a manually executed counterpart hereof. 
  

 9 

 SECTION 9. Applicable Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 10. Headings. The headings of this Amendment are for purposes of reference only and
shall not limit or otherwise affect the meaning hereof. 
 SECTION 11. Expenses. The Borrower agrees to reimburse the Administrative
Agent for all reasonable out-of-pocket expenses incurred in connection with this Amendment, including the reasonable fees, charges and disbursements of Cravath, Swaine & Moore LLP, counsel for the Administrative Agent. 
 SECTION 12. Acknowledgment of Subsidiary Guarantors. Each of the Subsidiary Guarantors hereby acknowledges receipt and notice of, and consents to
the terms of, this Amendment, and affirms and confirms its guarantee of the Obligations and, if applicable, the pledge of and/or grant of a security interest in its assets as Collateral to secure the Obligations, all as provided in the Guarantee and
Collateral Agreement and the other Security Documents, and acknowledges and agrees that such guarantee, pledge and/or grant of security interest continue in full force and effect in respect of, and to secure, the Obligations under the Credit
Agreement, as amended hereby, and the other Loan Documents and that such Obligations shall include all Obligations in respect of the Additional Term Loans. 
 [Remainder of page intentionally left blank] 
  

 10 

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

			
	ATP OIL & GAS CORPORATION,
		
	By	 	 /s/ T. Paul Bulmahn

	Name:	 	T. Paul Bulmahn
	Title:	 	President
	
	ATP ENERGY, INC.,
		
	By	 	 /s/ T. Paul Bulmahn

	Name:	 	T. Paul Bulmahn
	Title:	 	President
	
	 CREDIT SUISSE, CAYMAN ISLANDS BRANCH,
 individually, and as Administrative
 Agent and Collateral Agent,

		
	By	 	 /s/ James Moran

	Name:	 	James Moran
	Title:	 	Managing Director
		
	By	 	 /s/ Nupur Kumar

	Name:	 	Nupur Kumar
	Title:	 	Associate

 [Amendment] 

			
	 BAYERISCHE HYPO-UND VEREINSBANK
 AG, NEW YORK
BRANCH,

		
	By	 	 /s/ Roger G. Eustace

	Name:	 	Roger G. Eustace
	Title:	 	Director Project Finance
		
	By	 	 /s/ Andrew B. Leon

	Name:	 	Andrew B. Leon
	Title:	 	Director

 [Amendment] 

 SCHEDULE I 
 LENDERS AND ADDITIONAL TERM LOAN COMMITMENT 
  

				
	 Additional Lender
	  	 Additional Term
 Loan Commitment

	 Credit Suisse
	  	$	375,000,000
	 Total
	  	$	375,000,000

 SCHEDULE II 
 LOCAL COUNSEL 
 Onebane Law Firm 
 102 Versailles Blvd., Suite 600 
 Lafayette, Louisiana 70501 
 P. O. Box 3507 
 Lafayette, Louisiana 70502 
 Slaughter and May 
 1 Bunhill Row 
 London 
 EC1Y 8YY 
 United Kingdom 

 ANNEX I 
  

 INTERCREDITOR AGREEMENT 
 dated as of 
 November 22, 2006, 
 among 
 ATP OIL & GAS CORPORATION, 
 as Borrower, 
 the Subsidiaries of ATP
OIL & GAS CORPORATION 
 from time to time party hereto, 
 CREDIT SUISSE, 
 as First Lien Collateral Agent 
 and 
 CREDIT SUISSE, 
 as Second Lien Collateral Agent 
 THIS IS THE INTERCREDITOR AGREEMENT REFERRED TO IN (A) THE
SECOND LIEN GUARANTEE AND COLLATERAL AGREEMENT OF EVEN DATE HEREWITH AMONG ATP OIL & GAS CORPORATION, THE SUBSIDIARIES PARTY THERETO AND CREDIT SUISSE, AS COLLATERAL AGENT THEREUNDER, AND (B) THE OTHER SECURITY DOCUMENTS REFERRED TO IN
THE CREDIT AGREEMENTS REFERRED TO HEREIN. 
  

  

 TABLE OF CONTENTS 
  

					
	  	  	 	  	Page
	 ARTICLE I
	  	
		
	 DEFINITIONS
	  	
			
	 SECTION 1.01.
	  	Certain Defined Terms	  	2
	 SECTION 1.02.
	  	Other Defined Terms	  	2
	 SECTION 1.03.
	  	Terms Generally	  	7
		
	 ARTICLE II
	  	
		
	 LIEN PRIORITIES
	  	
			
	 SECTION 2.01.
	  	Relative Priorities	  	7
	 SECTION 2.02.
	  	Prohibition on Contesting Liens	  	8
	 SECTION 2.03.
	  	No New Liens	  	8
	 SECTION 2.04.
	  	Similar Liens and Agreements	  	8
		
	 ARTICLE III
	  	
		
	 ENFORCEMENT OF RIGHTS; MATTERS RELATING TO COLLATERAL
	  	
			
	 SECTION 3.01.
	  	Exercise of Rights and Remedies	  	9
	 SECTION 3.02.
	  	No Interference	  	10
	 SECTION 3.03.
	  	Rights as Unsecured Creditors	  	12
	 SECTION 3.04.
	  	Automatic Release of Second Priority Liens	  	13
	 SECTION 3.05.
	  	Automatic Release of First Priority Liens	  	14
	 SECTION 3.06.
	  	Insurance and Condemnation Awards	  	14
		
	 ARTICLE IV
	  	
		
	 PAYMENTS
	  	
			
	 SECTION 4.01.
	  	Application of Proceeds	  	15
	 SECTION 4.02.
	  	Payment Over	  	15
	 SECTION 4.03.
	  	Certain Agreements with Respect to Unenforceable Liens	  	15
		
	 ARTICLE V
	  	
		
	 BAILMENT FOR PERFECTION OF CERTAIN SECURITY INTERESTS
	  	
		
	 ARTICLE VI
	  	
		
	 INSOLVENCY OR LIQUIDATION PROCEEDINGS
	  	

  

					
			
	 SECTION 6.01.
	  	 Finance and Sale Matters
	  	17
	 SECTION 6.02.
	  	Relief from the Automatic Stay	  	18
	 SECTION 6.03.
	  	Reorganization Securities	  	19
	 SECTION 6.04.
	  	Post-Petition Interest	  	19
	 SECTION 6.05.
	  	Certain Waivers by the Second Lien Secured Parties	  	19
	 SECTION 6.06.
	  	Certain Voting Matters	  	19
		
	 ARTICLE VII
	  	
		
	 OTHER AGREEMENTS
	  	
			
	 SECTION 7.01.
	  	Matters Relating to Loan Documents	  	20
	 SECTION 7.02.
	  	Effect of Refinancing of Indebtedness under First Lien Loan Documents	  	21
	 SECTION 7.03.
	  	No Waiver by First Lien Secured Parties	  	22
	 SECTION 7.04.
	  	Reinstatement	  	22
	 SECTION 7.05.
	  	Further Assurances	  	23
		
	 ARTICLE VIII
	  	
		
	 REPRESENTATIONS AND WARRANTIES
	  	
			
	 SECTION 8.01.
	  	Representations and Warranties of Each Party	  	23
	 SECTION 8.02.
	  	Representations and Warranties of Each Collateral Agent	  	23
		
	 ARTICLE IX
	  	
		
	 NO RELIANCE; NO LIABILITY; OBLIGATIONS ABSOLUTE
	  	
			
	 SECTION 9.01.
	  	No Reliance; Information	  	24
	 SECTION 9.02.
	  	No Warranties or Liability	  	24
	 SECTION 9.03.
	  	Obligations Absolute	  	25
		
	 ARTICLE X
	  	
		
	 MISCELLANEOUS
	  	
			
	 SECTION 10.01.
	  	Notices	  	26
	 SECTION 10.02.
	  	Conflicts	  	26
	 SECTION 10.03.
	  	Effectiveness; Survival	  	26
	 SECTION 10.04.
	  	Severability	  	27
	 SECTION 10.05.
	  	Amendments; Waivers	  	27
	 SECTION 10.06.
	  	Subrogation	  	27
	 SECTION 10.07.
	  	Applicable Law; Jurisdiction; Consent to Service of Process	  	27
	 SECTION 10.08.
	  	Waiver of Jury Trial	  	28
	 SECTION 10.09.
	  	Parties in Interest	  	28
	 SECTION 10.10.
	  	Specific Performance	  	28
	 SECTION 10.11.
	  	Headings	  	29

  

 ii 

					
	 SECTION 10.12.
	  	Counterparts	  	29
	 SECTION 10.13.
	  	Provisions Solely to Define Relative Rights	  	29

  

 iii 

 INTERCREDITOR AGREEMENT dated as of November 22, 2006 (this
“Agreement”), among ATP OIL & GAS CORPORATION, a Texas corporation (the “Borrower”), the subsidiaries of the Borrower identified herein, CREDIT SUISSE, as collateral agent for the First Lien
Lenders (as defined below) (in such capacity, the “First Lien Collateral Agent”), and CREDIT SUISSE, as collateral agent for the Second Lien Lenders (as defined below) (in such capacity, the “Second Lien Collateral
Agent”). 
 PRELIMINARY STATEMENT 
 Reference is made to (a) the Second Amended and Restated Credit Agreement dated as of June 22, 2006 (the “First Lien Credit Agreement”), among the Borrower, the lenders from time to
time party thereto (the “First Lien Lenders”) and Credit Suisse, as administrative agent for the First Lien Lenders (in such capacity, the “First Lien Administrative Agent”) and First Lien Collateral
Agent, (b) the Second Lien Credit Agreement dated as of November 22, 2006 (the “Second Lien Credit Agreement” and, together with the First Lien Credit Agreement, the “Credit Agreements”),
among the Borrower, the lenders from time to time party thereto (the “Second Lien Lenders”) and Credit Suisse, as administrative agent for the Second Lien Lenders (in such capacity, the “Second Lien Administrative
Agent”) and Second Lien Collateral Agent, (c) the Amended and Restated Guarantee and Collateral Agreement dated as of April 14, 2005 (the “First Lien Guarantee and Collateral Agreement”), among the
Borrower, the subsidiaries of the Borrower from time to time party thereto and Credit Suisse, as First Lien Collateral Agent, (d) the Second Lien Guarantee and Collateral Agreement dated as of November 22, 2006 (the “Second Lien
Guarantee and Collateral Agreement”), among the Borrower, the subsidiaries of the Borrower from time to time party thereto and Credit Suisse, as Second Lien Collateral Agent, and (e) the other Security Documents referred to in the
Credit Agreements. 
 RECITALS 
 A. The First Lien Lenders have agreed to make loans and other extensions of credit to the Borrower pursuant to the First Lien Credit Agreement on the condition, among others, that the First Lien Obligations (such term and each other
capitalized term used but not defined in the preliminary statement or these recitals having the meaning given it in Article I) shall be secured by first priority Liens on, and security interests in, the Collateral. 
 B. The Second Lien Lenders have agreed to make loans to the Borrower pursuant to the Second Lien Credit Agreement on the condition, among others, that
the Second Lien Obligations shall be secured by second priority Liens on, and security interests in, the Collateral. 
  

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 C. The Credit Agreements require, among other things, that the parties thereto set forth in this
Agreement, among other things, their respective rights, obligations and remedies with respect to the Collateral. 
 Accordingly, the parties
hereto agree as follows: 
 ARTICLE I 
 Definitions 
 SECTION 1.01. Certain Defined Terms. Capitalized terms used in this Agreement and not
otherwise defined herein shall have the meanings set forth in the First Lien Credit Agreement, the Second Lien Credit Agreement, the First Lien Guarantee and Collateral Agreement or the Second Lien Guarantee and Collateral Agreement, as applicable.

 SECTION 1.02. Other Defined Terms. As used in the Agreement, the following terms shall have the meanings specified
below: 
 “Bankruptcy Code” shall mean Title 11 of the United States Code entitled “Bankruptcy,” as now
and hereafter in effect, or any successor statute. 
 “Bankruptcy Law” shall mean the Bankruptcy Code and any other
Federal, state or foreign bankruptcy, insolvency, receivership or similar law. 
 “Borrower” shall have the meaning
assigned to such term in the preamble to this Agreement. 
 “Collateral” shall mean, collectively, the First Lien
Collateral and the Second Lien Collateral. 
 “Collateral Agents” shall mean, collectively, the First Lien Collateral
Agent and the Second Lien Collateral Agent. 
 “Comparable Second Lien Security Document” shall mean, in relation to
any Collateral subject to any Lien created under any First Lien Security Document, the Second Lien Security Document that creates a Lien on the same Collateral, granted by the same Grantor. 
 “Credit Agreements” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
 “DIP Financing” shall have the meaning assigned to such term in Section 6.01(a). 
 “DIP Financing Liens” shall have the meaning assigned to such term in Section 6.01(a). 
  

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 “Discharge of First Lien Obligations” shall mean, subject to Sections 7.02
and 7.04, (a) payment in full in cash of the principal of and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such Insolvency or
Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the First Lien Loan Documents, (b) payment in full of all other First Lien Obligations that are due and payable or otherwise accrued and owing at or prior to the
time such principal and interest are paid, (c) cancellation of or the entry into arrangements satisfactory to the First Lien Administrative Agent and the Issuing Bank with respect to all letters of credit issued and outstanding under the First
Lien Credit Agreement and (d) termination or expiration of all commitments to lend and all obligations to issue or extend letters of credit under the First Lien Credit Agreement. 
 “Disposition” shall mean any sale, lease, exchange, transfer or other disposition. “Dispose” shall have a
correlative meaning. 
 “First Lien Administrative Agent” shall have the meaning assigned to such term in the
preliminary statement of this Agreement. 
 “First Lien Collateral” shall mean all “Collateral”, as defined
in the First Lien Guarantee and Collateral Agreement, and any other assets of any Grantor now or at any time hereafter subject to Liens securing any First Lien Obligations. 
 “First Lien Collateral Agent” shall have the meaning assigned to such term in the preamble to this Agreement. 
 “First Lien Credit Agreement” shall have the meaning assigned to such term in the preliminary statement of this Agreement.

 “First Lien Guarantee and Collateral Agreement” shall have the meaning assigned to such term in the preliminary
statement of this Agreement. 
 “First Lien Lenders” shall have the meaning assigned to such term in the preliminary
statement of this Agreement. 
 “First Lien Loan Documents” shall mean the “Loan Documents”, as defined in
the First Lien Credit Agreement. 
 “First Lien Mortgages” shall mean, collectively, each mortgage, deed of trust,
leasehold mortgage, assignment of leases and rents, modifications and any other agreement, document or instrument pursuant to which a Lien on real property is granted to secure any First Lien Obligations or under which rights or remedies with
respect to any such Lien are governed. 
 “First Lien Obligations” shall mean the “Obligations”, as defined
in the First Lien Guarantee and Collateral Agreement. 
  

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 “First Lien Required Lenders” shall mean the “Required Lenders”, as
defined in the First Lien Credit Agreement. 
 “First Lien Secured Parties” shall mean, at any time, (a) the
First Lien Lenders, (b) the First Lien Administrative Agent, (c) the First Lien Collateral Agent, (d) the Issuing Bank, (e) each other person to whom any of the First Lien Obligations (including First Lien Obligations under any
Hedging Agreement and indemnification obligations) is owed and (f) the successors and assigns of each of the foregoing. 
 “First Lien Security Documents” shall mean the “Security Documents”, as defined in the First Lien Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted to
secure any First Lien Obligations or under which rights or remedies with respect to any such Lien are governed. 
 “First Priority
Liens” shall mean all Liens on the First Lien Collateral securing the First Lien Obligations, whether created under the First Lien Security Documents or acquired by possession, statute (including any judgment lien), operation of law,
subrogation or otherwise. 
 “Grantors” shall mean the Borrower and each other person that shall have created or
purported to create any First Priority Lien or Second Priority Lien on all or any part of its assets to secure any First Lien Obligations or any Second Lien Obligations. 
 “Guarantors” shall mean, collectively, each Subsidiary that has Guaranteed, or that may from time to time hereafter Guarantee, the First Lien Obligations or the Second Lien Obligations, whether
by executing and delivering the applicable Guarantee and Collateral Agreement, a supplement thereto or otherwise. 
 “Indebtedness” shall mean and includes all obligations that constitute “Indebtedness”, as defined in the First Lien Credit Agreement or the Second Lien Credit Agreement, as applicable. 
 “Insolvency or Liquidation Proceeding” shall mean (a) any voluntary or involuntary proceeding under the Bankruptcy Code or
any other Bankruptcy Law with respect to any Grantor, (b) any voluntary or involuntary appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Grantor or for a substantial part of the property or
assets of any Grantor, (c) any voluntary or involuntary winding-up or liquidation of any Grantor, or (d) a general assignment for the benefit of creditors by any Grantor. 
 “Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance,
charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect
as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third person with respect to such securities. 
  

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 “Loan Documents” shall mean the First Lien Loan Documents and the Second Lien
Loan Documents. 
 “New First Lien Collateral Agent” shall have the meaning assigned to such term in
Section 7.02. 
 “New First Lien Loan Documents” shall have the meaning assigned to such term in
Section 7.02. 
 “New First Lien Obligations” shall have the meaning assigned to such term in Section 7.02.

 “Pledged or Controlled Collateral” shall have the meaning assigned to such term in Article V. 
 “Refinance” shall mean, in respect of any Indebtedness, to refinance, extend, renew, restructure or replace or to issue other
Indebtedness in exchange or replacement for, such Indebtedness, in whole or in part. “Refinanced” and “Refinancing” shall have correlative meanings. 
 “Refinancing Notice” shall have the meaning assigned to such term in Section 7.02. 
 “Release” shall have the meaning assigned to such term in Section 3.04. 
 “Second Lien Administrative Agent” shall have the meaning assigned to such term in the preliminary statement of this Agreement.

 “Second Lien Collateral” shall mean all “Collateral”, as defined in the Second Lien Guarantee and
Collateral Agreement, and any other assets of any Grantor now or at any time hereafter subject to Liens securing any Second Lien Obligations. 
 “Second Lien Collateral Agent” shall have the meaning assigned to such term in the preamble to this Agreement. 
 “Second Lien Credit Agreement” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
 “Second Lien Guarantee and Collateral Agreement” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
 “Second Lien Lenders” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
 “Second Lien Loan Documents” shall mean the “Loan Documents”, as defined in the Second Lien Credit Agreement.

  

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 “Second Lien Mortgages” shall mean, collectively, each mortgage, deed of trust,
leasehold mortgage, assignment of leases and rents, modifications and any other agreement, document or instrument pursuant to which any Lien on real property is granted to secure any Second Lien Obligations or under which rights or remedies with
respect to any such Lien are governed. 
 “Second Lien Obligations” shall mean the “Obligations”, as
defined in the Second Lien Guarantee and Collateral Agreement. 
 “Second Lien Permitted Actions” shall have the
meaning assigned to such term in Section 3.01(a). 
 “Second Lien Required Lenders” shall mean the
“Required Lenders”, as defined in the Second Lien Credit Agreement. 
 “Second Lien Secured Parties” shall
mean, at any time, (a) the Second Lien Lenders, (b) the Second Lien Administrative Agent, (c) the Second Lien Collateral Agent, (d) each other person to whom any of the Second Lien Obligations (including indemnification
obligations) is owed and (e) the successors and assigns of each of the foregoing. 
 “Second Lien Security
Documents” shall mean the “Security Documents”, as defined in the Second Lien Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted to secure any Second Lien Obligations or under
which rights or remedies with respect to any such Lien are governed. 
 “Second Priority Liens” shall mean all Liens
on the Second Lien Collateral securing the Second Lien Obligations, whether created under the Second Lien Security Documents or acquired by possession, statute (including any judgment lien), operation of law, subrogation or otherwise. 
 “Security Documents” shall mean the First Lien Security Documents and the Second Lien Security Documents. 
 “Standstill Period” shall have the meaning assigned to such term in Section 3.02(a). 
 “subsidiary” shall mean, with respect to any person (herein referred to as the “parent”), any
corporation, partnership, limited liability company, association or other business entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or more than
50% of the general partnership or membership interests are, at the time any determination is being made, owned, Controlled or held, or (b) that is, at the time any determination is made, otherwise Controlled, by the parent or one or more
subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. 
 “Subsidiary” shall mean
any Domestic Subsidiary of the Borrower. 
  

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 “Uniform Commercial Code” or “UCC” shall mean the Uniform
Commercial Code (or any similar or equivalent legislation) as in effect from time to time in any applicable jurisdiction. 
 SECTION 1.03.
Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter
forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the
word “shall”. Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time
to time amended, restated, supplemented or otherwise modified, (b) any reference herein (i) to any person shall be construed to include such person’s successors and assigns and (ii) to the Borrower or any other Grantor shall be
construed to include the Borrower or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Borrower or any other Grantor, as the case may be, in any Insolvency or Liquidation Proceeding, (c) the words
“herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles or
Sections shall be construed to refer to Articles or Sections of this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and contract rights. 
 ARTICLE II 
 Lien Priorities 
 SECTION 2.01.
Relative Priorities. Notwithstanding the date, manner or order of grant, attachment or perfection of any Second Priority Lien or any First Priority Lien, and notwithstanding any provision of the UCC or any other applicable law or the
provisions of any Security Document or any other Loan Document or any other circumstance whatsoever, the Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby agrees that, so long as the Discharge of
First Lien Obligations has not occurred, (a) any First Priority Lien now or hereafter held by or for the benefit of any First Lien Secured Party shall be senior in right, priority, operation, effect and all other respects to any and all Second
Priority Liens and (b) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all First
Priority Liens. The First Priority Liens shall be and remain senior in right, priority, operation, effect and all other respects to any Second Priority Liens for all purposes, whether or not any First Priority Liens are subordinated in any respect
to any other Lien securing any other obligation of the Borrower, any other Grantor or any other person. 
  

 7 

 SECTION 2.02. Prohibition on Contesting Liens. Each of the First Lien Collateral Agent, for
itself and on behalf of the other First Lien Secured Parties, and the Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, agrees that it will not, and hereby waives any right to, contest or support any
other person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the priority, validity or enforceability of any Second Priority Lien or any First Priority Lien, as the case may be; provided that nothing in
this Agreement shall be construed to prevent or impair the rights of the First Lien Collateral Agent or any other First Lien Secured Party to enforce this Agreement. 
 SECTION 2.03. No New Liens. The parties hereto agree that, so long as the Discharge of First Lien Obligations has not occurred, none of the Grantors shall, or shall permit any of its subsidiaries to,
(a) grant or permit any additional Liens on any asset to secure any Second Lien Obligation unless it has granted, or concurrently therewith grants, a Lien on such asset to secure the First Lien Obligations or (b) grant or permit any
additional Liens on any asset to secure any First Lien Obligations unless it has granted, or concurrently therewith grants, a Lien on such asset to secure the Second Lien Obligations, with each such Lien to be subject to the provisions of this
Agreement. To the extent that the provisions of the immediately preceding sentence are not complied with for any reason, without limiting any other right or remedy available to the First Lien Collateral Agent or the other First Lien Secured Parties,
the Second Lien Collateral Agent agrees, for itself and on behalf of the other Second Lien Secured Parties, that any amounts received by or distributed to any Second Lien Secured Party pursuant to or as a result of any Lien granted in contravention
of this Section 2.03 shall be subject to Section 4.02. 
 SECTION 2.04. Similar Liens and Agreements. The parties
hereto acknowledge and agree that it is their intention that the First Lien Collateral and the Second Lien Collateral be identical. In furtherance of the foregoing, the parties hereto agree: 
 (a) to cooperate in good faith in order to determine, upon any reasonable request by the First Lien Collateral Agent or the Second Lien
Collateral Agent, the specific assets included in the First Lien Collateral and the Second Lien Collateral, the steps taken to perfect the First Priority Liens and the Second Priority Liens thereon and the identity of the respective parties
obligated under the First Lien Loan Documents and the Second Lien Loan Documents; and 
 (b) that the documents, agreements
and instruments creating or evidencing the Second Lien Collateral and the Second Priority Liens shall be in all material respects in the same form as the documents, agreements and instruments creating or evidencing the First Lien Collateral and the
First Priority Liens, other than with respect to the first priority and second priority nature of the Liens created or evidenced thereunder, the identity of the Secured Parties that are parties thereto or secured thereby and other matters
contemplated by this Agreement. 
  

 8 

 ARTICLE III 
 Enforcement of Rights; Matters Relating to Collateral 
 SECTION 3.01. Exercise of Rights
and Remedies. (a) So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced, the First Lien Collateral Agent and the other First Lien Secured Parties
shall have the exclusive right to enforce rights and exercise remedies (including any right of setoff) with respect to the Collateral (including making determinations regarding the release, Disposition or restrictions with respect to the
Collateral), or to commence or seek to commence any action or proceeding with respect to such rights or remedies (including any foreclosure action or proceeding or any Insolvency or Liquidation Proceeding), in each case, without any consultation
with or the consent of the Second Lien Collateral Agent or any other Second Lien Secured Party; provided that, notwithstanding the foregoing, (i) in any Insolvency or Liquidation Proceeding, the Second Lien Collateral Agent may file a
proof of claim or statement of interest with respect to the Second Lien Obligations; (ii) the Second Lien Collateral Agent may take any action to preserve or protect the validity and enforceability of the Second Priority Liens, provided
that no such action is, or could reasonably be expected to be, (A) adverse to the First Priority Liens or the rights of the First Lien Collateral Agent or any other First Lien Secured Party to exercise remedies in respect thereof or
(B) otherwise inconsistent with the terms of this Agreement, including the automatic release of Second Priority Liens provided in Section 3.04; (iii) the Second Lien Secured Parties may file any responsive or defensive pleadings in
opposition to any motion, claim, adversary proceeding or other pleading made by any person objecting to or otherwise seeking the disallowance of the claims of the Second Lien Secured Parties, including any claims secured by the Collateral or
otherwise make any agreements or file any motions pertaining to the Second Lien Obligations, in each case, to the extent not inconsistent with the terms of this Agreement; (iv) the Second Lien Secured Parties may exercise rights and remedies as
unsecured creditors, as provided in Section 3.03; and (v) subject to Section 3.02(a), the Second Lien Collateral Agent and the other Second Lien Secured Parties may enforce any of their rights and exercise any of their remedies with
respect to the Collateral after the termination of the Standstill Period (the actions described in this proviso being referred to herein as the “Second Lien Permitted Actions”). Except for the Second Lien Permitted Actions,
unless and until the Discharge of First Lien Obligations has occurred, the sole right of the Second Lien Collateral Agent and the other Second Lien Secured Parties with respect to the Collateral shall be to receive the proceeds of the Collateral, if
any, remaining after the Discharge of First Lien Obligations has occurred and in accordance with the Second Lien Loan Documents and applicable law. 
 (b) In exercising rights and remedies with respect to the Collateral, the First Lien Collateral Agent and the other First Lien Secured Parties may enforce the provisions of the First Lien Loan Documents and exercise
remedies thereunder, all in such order and in such manner as they may determine in their sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by 

  

 9 

 
them to Dispose of Collateral upon foreclosure, to incur expenses in connection with any such Disposition and to exercise all the rights and remedies of a
secured creditor under the Uniform Commercial Code, the Bankruptcy Code or any other Bankruptcy Law. The First Lien Collateral Agent agrees to provide at least five days’ prior written notice to the Second Lien Collateral Agent of its
intention to foreclose upon or Dispose of any Collateral. 
 (c) The Second Lien Collateral Agent, for itself and on behalf of
the other Second Lien Secured Parties, hereby acknowledges and agrees that no covenant, agreement or restriction contained in any Second Lien Security Document or any other Second Lien Loan Document shall be deemed to restrict in any way the rights
and remedies of the First Lien Collateral Agent or the other First Lien Secured Parties with respect to the Collateral as set forth in this Agreement and the other First Lien Loan Documents. 
 (d) Notwithstanding anything in this Agreement to the contrary, following the acceleration of the Indebtedness then outstanding under the
First Lien Credit Agreement, the Second Lien Secured Parties may, at their sole expense and effort, upon notice to the Borrower and the First Lien Collateral Agent, require the First Lien Secured Parties to transfer and assign to the Second Lien
Secured Parties, without warranty or representation or recourse, all (but not less than all) of the First Lien Obligations; provided that (x) such assignment shall not conflict with any law, rule or regulation or order of any court or
other Governmental Authority having jurisdiction, and (y) the Second Lien Secured Parties shall have paid to the First Lien Collateral Agent, for the account of the First Lien Secured Parties, in immediately available funds, an amount equal to
100% of the principal of such Indebtedness plus all accrued and unpaid interest thereon plus all accrued and unpaid Fees (as defined in the First Lien Credit Agreement) plus all the other First Lien Obligations then outstanding (which shall include,
with respect to (i) the aggregate face amount of the letters of credit outstanding under the First Lien Credit Agreement, an amount in cash equal to 105% thereof, and (ii) Hedging Agreements that constitute First Lien Obligations, 100% of
the aggregate amount of such First Lien Obligations (giving effect to any netting arrangements) that the applicable Loan Party would be required to pay if such Hedging Agreements were terminated at such time). In order to effectuate the foregoing,
the First Lien Collateral Agent shall calculate, upon the written request of the Second Lien Collateral Agent from time to time, the amount in cash that would be necessary so to purchase the First Lien Obligations. 
 SECTION 3.02. No Interference. (a) The Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured
Parties, agrees that, whether or not any Insolvency or Liquidation Proceeding has been commenced, the Second Lien Secured Parties: 
 (i) except for Second Lien Permitted Actions, will not, so long as the Discharge of First Lien Obligations has not occurred, (A) enforce or exercise, 

  

 10 

 
or seek to enforce or exercise, any rights or remedies (including any right of setoff) with respect to any Collateral (including the enforcement of any right
under any account control agreement, landlord waiver or bailee’s letter or any similar agreement or arrangement to which the Second Lien Collateral Agent or any other Second Lien Secured Party is a party) or (B) commence or join with any
person (other than the First Lien Collateral Agent) in commencing, or petition for or vote in favor of any resolution for, any action or proceeding with respect to such rights or remedies (including any foreclosure action); provided,
however, that the Second Lien Collateral Agent may enforce or exercise any or all such rights and remedies, or commence, join with any person in commencing, or petition for or vote in favor of any resolution for, any such action or
proceeding, after a period of 180 days has elapsed since the date on which the Second Lien Collateral Agent has delivered to the First Lien Collateral Agent written notice of the acceleration of the Indebtedness then outstanding under the
Second Lien Credit Agreement (the “Standstill Period”); provided further, however, that (A) notwithstanding the expiration of the Standstill Period or anything herein to the contrary, in no event shall the
Second Lien Collateral Agent or any other Second Lien Secured Party enforce or exercise any rights or remedies with respect to any Collateral, or commence, join with any person in commencing, or petition for or vote in favor of any resolution for,
any such action or proceeding, if the First Lien Collateral Agent or any other First Lien Secured Party shall have commenced, and shall be diligently pursuing (or shall have sought or requested relief from or modification of the automatic stay or
any other stay in any Insolvency or Liquidation Proceeding to enable the commencement and pursuit thereof), the enforcement or exercise of any rights or remedies with respect to any Collateral or any such action or proceeding (prompt written notice
thereof to be given to the Second Lien Collateral Agent by the First Lien Collateral Agent) and (B) after the expiration of the Standstill Period, so long as neither the First Lien Collateral Agent nor the First Lien Secured Parties have
commenced any action to enforce their Lien on any material portion of the Collateral, in the event that and for so long as the Second Lien Secured Parties (or the Second Lien Collateral Agent on their behalf) have commenced any actions to enforce
their Lien with respect to all or any material portion of the Collateral to the extent permitted hereunder and are diligently pursuing such actions, neither the First Lien Secured Parties nor the First Lien Collateral Agent shall take any action of
a similar nature with respect to such Collateral; provided that all other provisions of this Intercreditor Agreement (including the turnover provisions of Article IV) are complied with; 
 (ii) will not contest, protest or object to any foreclosure action or proceeding brought by the First Lien Collateral Agent or any other
First Lien Secured Party, or any other enforcement or exercise by any First Lien Secured Party of any rights or remedies relating to the Collateral under the First Lien Loan Documents or otherwise, so long as Second Priority Liens attach to the
proceeds thereof subject to the relative priorities set forth in Section 2.01; 
  

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 (iii) subject to the rights of the Second Lien Secured Parties under
clause (i) above, will not object to the forbearance by the First Lien Collateral Agent or any other First Lien Secured Party from commencing or pursuing any foreclosure action or proceeding or any other enforcement or exercise of any
rights or remedies with respect to the Collateral; 
 (iv) will not, so long as the Discharge of First Lien Obligations has
not occurred and except for Second Lien Permitted Actions, take or receive any Collateral, or any proceeds thereof or payment with respect thereto, in connection with the exercise of any right or enforcement of any remedy (including any right of
setoff) with respect to any Collateral or in connection with any insurance policy award under a policy of insurance relating to any Collateral or any condemnation award (or deed in lieu of condemnation) relating to any Collateral; 
 (v) will not, except for Second Lien Permitted Actions, take any action that would, or could reasonably be expected to, hinder, in any
manner, any exercise of remedies under the First Lien Loan Documents, including any Disposition of any Collateral, whether by foreclosure or otherwise; 
 (vi) will not, except for Second Lien Permitted Actions, object to the manner in which the First Lien Collateral Agent or any other First Lien Secured Party may seek to enforce or collect the First Lien Obligations or
the First Priority Liens, regardless of whether any action or failure to act by or on behalf of the First Lien Collateral Agent or any other First Lien Secured Party is, or could be, adverse to the interests of the Second Lien Secured Parties, and
will not assert, and hereby waive, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or claim the benefit of any marshalling, appraisal, valuation or other similar right that may be available under
applicable law with respect to the Collateral or any similar rights a junior secured creditor may have under applicable law; and 
 (vii) will not attempt, directly or indirectly, whether by judicial proceeding or otherwise, to challenge or question the validity or enforceability of any First Lien Obligation or any First Lien Security Document, including this Agreement,
or the validity or enforceability of the priorities, rights or obligations established by this Agreement. 
 SECTION 3.03. Rights as
Unsecured Creditors. The Second Lien Collateral Agent and the other Second Lien Secured Parties may, in accordance with the terms of the Second Lien Loan Documents and applicable law, enforce rights and exercise remedies against the Borrower
and any Guarantor as unsecured creditors; provided that no such action is otherwise inconsistent with the terms of this Agreement. Nothing in this Agreement shall prohibit the receipt by the Second Lien Collateral Agent or any other Second
Lien Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Lien Loan Documents so long as such receipt is not the direct or indirect result of the enforcement or exercise by the 

  

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Second Lien Collateral Agent or any other Second Lien Secured Party of rights or remedies as a secured creditor (including any right of setoff) or
enforcement in contravention of this Agreement of any Second Priority Lien (including any judgment lien resulting from the exercise of remedies available to an unsecured creditor). 
 SECTION 3.04. Automatic Release of Second Priority Liens. (a) If, in connection with (i) any Disposition of any Collateral
permitted under the terms of the First Lien Loan Documents or (ii) the enforcement or exercise of any rights or remedies with respect to the Collateral, including any Disposition of Collateral, the First Lien Collateral Agent, for itself and on
behalf of the other First Lien Secured Parties, (x) releases any of the First Priority Liens, or (y) releases any Guarantor from its obligations under its guarantee of the First Lien Obligations (in each case, a
“Release”), other than any such Release granted following the Discharge of First Lien Obligations, then, subject to Section 3.04(b), the Second Priority Liens on such Collateral, and the obligations of such Guarantor
under its guarantee of the Second Lien Obligations, shall be automatically, unconditionally and simultaneously released, and the Second Lien Collateral Agent shall, for itself and on behalf of the other Second Lien Secured Parties, promptly execute
and deliver to the First Lien Collateral Agent, the relevant Grantor or such Guarantor such termination statements, releases and other documents as the First Lien Collateral Agent or the relevant Grantor or Guarantor may reasonably request to
effectively confirm such Release; provided that, in the case of a Disposition of Collateral (other than any such Disposition in connection with the enforcement or exercise of any rights or remedies with respect to the Collateral), the Second
Priority Liens shall not be so released if such Disposition is not permitted under the terms of the Second Lien Credit Agreement. 
 (b) In the event that the aggregate principal amount of the loans, letters of credit and unused revolving credit commitments outstanding under the First Lien Loan Documents, at any time, is less than 15% of the sum of such amount and the
aggregate principal amount of the loans outstanding under the Second Lien Loan Documents, then any Release (other than a Release in connection with a Disposition of Collateral in connection with the enforcement or exercise of any rights or remedies
with respect to the Collateral permitted hereunder) shall require the consent of the holders of First Lien Obligations and Second Lien Obligations representing in the aggregate more than 50% of the sum of (i) the aggregate principal amount of
loans, letters of credit and unused revolving credit commitments outstanding under the First Lien Loan Documents and (ii) the aggregate principal amount of the loans outstanding under the Second Lien Loan Documents. 
 (c) Until the Discharge of First Lien Obligations occurs, the Second Lien Collateral Agent, for itself and on behalf of each other Second
Lien Secured Party, hereby appoints the First Lien Collateral Agent, and any officer or agent of the First Lien Collateral Agent, with full power of substitution, as the attorney-in-fact of each Second Lien Secured Party for the purpose of carrying
out the provisions of this Section 3.04 and taking any action and executing any instrument that the First Lien Collateral Agent may deem necessary or advisable to accomplish 

  

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the purposes of this Section 3.04 (including any endorsements or other instruments of transfer or release), which appointment is irrevocable and coupled
with an interest. 
 SECTION 3.05. Automatic Release of First Priority Liens. If, in connection with the enforcement or
exercise of any rights or remedies with respect to the Collateral after the expiration of the Standstill Period that is permitted in accordance with clause (A) of the second proviso to Section 3.02 (a)(i), including any Disposition of
Collateral, the Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, (x) releases any of the Second Priority Liens, or (y) releases any Guarantor from its obligations under its guarantee of the
Second Lien Obligations (in each case, a “Second Lien Release”), then the First Priority Liens on such Collateral, and the obligations of such Guarantor under its guarantee of the First Lien Obligations, shall be
automatically, unconditionally and simultaneously released, and the First Lien Collateral Agent shall, for itself and on behalf of the other First Lien Secured Parties, promptly execute and deliver to the Second Lien Collateral Agent, the relevant
Grantor or such Guarantor such termination statements, releases and other documents as the Second Lien Collateral Agent or the relevant Grantor or Guarantor may reasonably request to effectively confirm such release; provided that so long as
the Discharge of First Lien Obligations has not occurred, the proceeds of, or payments with respect to, any Second Lien Release that are received by the Second Lien Collateral Agent or any other Second Lien Secured Party, shall be segregated and
held in trust and forthwith transferred or paid over to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties in accordance with Section 4.02. 
 SECTION 3.06. Insurance and Condemnation Awards. So long as the Discharge of First Lien Obligations has not occurred, the First Lien
Collateral Agent and the other First Lien Secured Parties shall have the exclusive right, subject to the rights of the Grantors under the First Lien Loan Documents, to settle and adjust claims in respect of Collateral under policies of insurance
covering Collateral and to approve any award granted in any condemnation or similar proceeding, or any deed in lieu of condemnation, in respect of the Collateral. All proceeds of any such policy and any such award, or any payments with respect to a
deed in lieu of condemnation, shall (a) first, prior to the Discharge of First Lien Obligations and subject to the rights of the Grantors under the First Lien Loan Documents, be paid to the First Lien Collateral Agent for the benefit of the
First Lien Secured Parties pursuant to the terms of the First Lien Loan Documents, (b) second, after the Discharge of First Lien Obligations and subject to the rights of the Grantors under the Second Lien Loan Documents, be paid to the Second
Lien Collateral Agent for the benefit of the Second Lien Secured Parties pursuant to the terms of the Second Lien Loan Documents, and (c) third, if no Second Lien Obligations are outstanding, be paid to the owner of the subject property, such
other person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. Until the Discharge of First Lien Obligations has occurred, if the Second Lien Collateral Agent or any other Second Lien Secured Party shall, at
any time, receive any proceeds of any such insurance policy or any such award or payment, it shall transfer and pay over such proceeds to the First Lien Collateral Agent in accordance with Section 4.02. 
  

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 ARTICLE IV 
 Payments 
 SECTION 4.01. Application of Proceeds. So long as the Discharge of
First Lien Obligations has not occurred, any Collateral or proceeds thereof received by the First Lien Collateral Agent in connection with any Disposition of, or collection on, such Collateral upon the enforcement or exercise of any right or remedy
(including any right of setoff) shall be applied by the First Lien Collateral Agent to the First Lien Obligations. Upon the Discharge of First Lien Obligations, the First Lien Collateral Agent shall deliver to the Second Lien Collateral Agent any
remaining Collateral and any proceeds thereof then held by it in the same form as received, together with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct, to be applied by the Second Lien Collateral Agent to
the Second Lien Obligations. 
 SECTION 4.02. Payment Over. So long as the Discharge of First Lien Obligations has not
occurred, any Collateral, or any proceeds thereof or payment with respect thereto (together with assets or proceeds subject to Liens referred to in the final sentence of Section 2.03), received by the Second Lien Collateral Agent or any other
Second Lien Secured Party in connection with any Disposition of, or collection on, such Collateral upon the enforcement or the exercise of any right or remedy (including any right of setoff) with respect to the Collateral, or in connection with any
insurance policy claim or any condemnation award (or deed in lieu of condemnation), shall be segregated and held in trust and forthwith transferred or paid over to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties in
the same form as received, together with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct. Until the Discharge of First Lien Obligations occurs, the Second Lien Collateral Agent, for itself and on behalf of
each other Second Lien Secured Party, hereby appoints the First Lien Collateral Agent, and any officer or agent of the First Lien Collateral Agent, with full power of substitution, the attorney-in-fact of each Second Lien Secured Party for the
purpose of carrying out the provisions of this Section 4.02 and taking any action and executing any instrument that the First Lien Collateral Agent may deem necessary or advisable to accomplish the purposes of this Section 4.02, which
appointment is irrevocable and coupled with an interest. 
 SECTION 4.03. Certain Agreements with Respect to Unenforceable
Liens. Notwithstanding anything to the contrary contained herein, if in any Insolvency or Liquidation Proceeding a determination is made that any Lien encumbering any Collateral is not enforceable for any reason, then the Second Lien
Collateral Agent and the Second Lien Secured Parties agree that, any distribution or recovery they may receive with respect to, or allocable to, the value of the assets intended to constitute such Collateral or any proceeds thereof shall (for so
long as the Discharge of First Lien Obligations has not occurred) be segregated and held in trust and forthwith paid over to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties in the same form as received without
recourse, representation or warranty (other than a representation of the Second Lien Collateral Agent that it has not otherwise sold, 

  

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assigned, transferred or pledged any right, title or interest in and to such distribution or recovery) but with any necessary endorsements or as a court of
competent jurisdiction may otherwise direct until such time as the Discharge of First Lien Obligations has occurred. Until the Discharge of First Lien Obligations occurs, the Second Lien Collateral Agent, for itself and on behalf of each other
Second Lien Secured Party, hereby appoints the First Lien Collateral Agent, and any officer or agent of the First Lien Collateral Agent, with full power of substitution, the attorney-in-fact of each Second Lien Secured Party for the limited purpose
of carrying out the provisions of this Section 4.03 and taking any action and executing any instrument that the First Lien Collateral Agent may deem necessary or advisable to accomplish the purposes of this Section 4.03, which appointment
is irrevocable and coupled with an interest. 
 ARTICLE V 
 Bailment for Perfection of Certain Security Interests 
 (a) The First Lien
Collateral Agent agrees that if it shall at any time hold a First Priority Lien on any Collateral that can be perfected by the possession or control of such Collateral or of any account in which such Collateral is held, and if such Collateral or any
such account is in fact in the possession or under the control of the First Lien Collateral Agent, or of agents or bailees of the First Lien Collateral Agent (such Collateral being referred to herein as the “Pledged or Controlled
Collateral”), the First Lien Collateral Agent shall, solely for the purpose of perfecting the Second Priority Liens granted under the Second Lien Loan Documents and subject to the terms and conditions of this Article V, also hold such
Pledged or Controlled Collateral as gratuitous bailee for the Second Lien Collateral Agent. 
 (b) So long as the Discharge of
First Lien Obligations has not occurred, the First Lien Collateral Agent shall be entitled to deal with the Pledged or Controlled Collateral in accordance with the terms of this Agreement and the other First Lien Loan Documents as if the Second
Priority Liens did not exist. The obligations and responsibilities of the First Lien Collateral Agent to the Second Lien Collateral Agent and the other Second Lien Secured Parties under this Article V shall be limited solely to holding or
controlling the Pledged or Controlled Collateral as gratuitous bailee in accordance with this Article V. Without limiting the foregoing, the First Lien Collateral Agent shall have no obligation or responsibility to ensure that any Pledged or
Controlled Collateral is genuine or owned by any of the Grantors. The First Lien Collateral Agent acting pursuant to this Article V shall not, by reason of this Agreement, any other Security Document or any other document, have a fiduciary
relationship in respect of any other First Lien Secured Party, the Second Lien Collateral Agent or any other Second Lien Secured Party. 
 (c) Upon the Discharge of First Lien Obligations, the First Lien Collateral Agent shall transfer the possession and control of the Pledged or 

  

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Controlled Collateral, together with any necessary endorsements but without recourse or warranty, (i) if the Second Lien Obligations are outstanding at
such time, to the Second Lien Collateral Agent, and (ii) if no Second Lien Obligations are outstanding at such time, to the applicable Grantor, in each case so as to allow such person to obtain possession and control of such Pledged or
Controlled Collateral. In connection with any transfer under clause (i) of the immediately preceding sentence, the First Lien Collateral Agent agrees to take all actions in its power as shall be reasonably requested by the Second Lien
Collateral Agent to permit the Second Lien Collateral Agent to obtain, for the benefit of the Second Lien Secured Parties, a first priority security interest in the Pledged or Controlled Collateral. 
 ARTICLE VI 
 Insolvency or Liquidation
Proceedings 
 SECTION 6.01. Finance and Sale Matters. (a) Until the Discharge of First Lien Obligations has
occurred, the Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, agrees that, in the event of any Insolvency or Liquidation Proceeding, the Second Lien Secured Parties: 
 (i) will not oppose or object to the use of any Collateral constituting cash collateral under Section 363 of the Bankruptcy Code, or
any comparable provision of any other Bankruptcy Law, unless the First Lien Secured Parties, or a representative authorized by the First Lien Secured Parties, shall oppose or object to such use of cash collateral; 
 (ii) will not oppose or object to any post-petition financing, whether provided by the First Lien Secured Parties or any other person,
under Section 364 of the Bankruptcy Code, or any comparable provision of any other Bankruptcy Law (a “DIP Financing”), or the Liens securing any DIP Financing (“DIP Financing Liens”), unless the
First Lien Secured Parties, or a representative authorized by the First Lien Secured Parties, shall then oppose or object to such DIP Financing or such DIP Financing Liens, and, to the extent that such DIP Financing Liens are senior to, or rank
pari passu with, the First Priority Liens, the Second Lien Collateral Agent will, for itself and on behalf of the other Second Lien Secured Parties, subordinate the Second Priority Liens to the First Priority Liens and the DIP Financing Liens
on the terms of this Agreement; provided that the foregoing shall not prevent the Second Lien Secured Parties from proposing any other DIP Financing to any Grantors or to a court of competent jurisdiction; 
 (iii) except to the extent permitted by paragraph (b) of this Section 6.01, in connection with the use of cash collateral as
described in clause (i) above or a DIP Financing, will not request adequate protection or 

  

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any other relief in connection with such use of cash collateral, DIP Financing or DIP Financing Liens; and 
 (iv) will not oppose or object to any Disposition of any Collateral free and clear of the Second Priority Liens or other claims under
Section 363 of the Bankruptcy Code, or any comparable provision of any other Bankruptcy Law, if the First Lien Secured Parties, or a representative authorized by the First Lien Secured Parties, shall consent to such Disposition. 
 (b) The Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, agrees that no Second Lien
Secured Party shall contest, or support any other person in contesting, (i) any request by the First Lien Collateral Agent or any other First Lien Secured Party for adequate protection or (ii) any objection, based on a claim of a lack of
adequate protection, by the First Lien Collateral Agent or any other First Lien Secured Party to any motion, relief, action or proceeding. Notwithstanding the immediately preceding sentence, if, in connection with any DIP Financing or use of cash
collateral, (A) any First Lien Secured Party is granted adequate protection in the form of a Lien on additional collateral, the Second Lien Collateral Agent may, for itself and on behalf of the other Second Lien Secured Parties, seek or request
adequate protection in the form of a Lien on such additional collateral, which Lien will be subordinated to the First Priority Liens and DIP Financing Liens on the same basis as the other Second Priority Liens are subordinated to the First Priority
Liens under this Agreement or (B) any Second Lien Secured Party is granted adequate protection in the form of a Lien on additional collateral, the First Lien Collateral Agent shall, for itself and on behalf of the other First Lien Secured
Parties, be granted adequate protection in the form of a Lien on such additional collateral that is senior to such Second Priority Lien as security for the First Lien Obligations. 
 (c) Notwithstanding the foregoing, the applicable provisions of Section 6.01(a) and (b) shall only be binding on the Second Lien
Secured Parties with respect to any DIP Financing to the extent the amount of such DIP Financing does not exceed the sum of (i) to the extent Refinanced in connection with, and included as part of, such DIP Financing, the aggregate
principal amount of the pre-petition First Lien Obligations, (ii) the pre-petition unused portion of the revolving credit commitments under the First Lien Loan Documents and (iii) $20,000,000. 
 SECTION 6.02. Relief from the Automatic Stay. The Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured
Parties, agrees that, so long as the Discharge of First Lien Obligations has not occurred, no Second Lien Secured Party shall, without the prior written consent of the First Lien Collateral Agent, seek or request relief from or modification of the
automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of any part of the Collateral, any proceeds thereof or any Second Priority Lien. 
  

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 SECTION 6.03. Reorganization Securities. If, in any Insolvency or Liquidation Proceeding,
debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed, pursuant to a plan of reorganization or similar dispositive restructuring plan, on account of both the First Lien Obligations
and the Second Lien Obligations, then, to the extent the debt obligations distributed on account of the First Lien Obligations and on account of the Second Lien Obligations are secured by Liens upon the same assets or property, the provisions of
this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 
 SECTION 6.04. Post-Petition Interest. (a) The Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, agrees that no Second Lien Secured Party shall oppose
or seek to challenge any claim by the First Lien Collateral Agent or any other First Lien Secured Party for allowance in any Insolvency or Liquidation Proceeding of First Lien Obligations consisting of post-petition interest, fees or expenses to the
extent of the value of the First Priority Liens (it being understood and agreed that such value shall be determined without regard to the existence of the Second Priority Liens on the Collateral). 
 (b) The First Lien Collateral Agent, for itself and on behalf of the other First Lien Secured Parties, agrees that no First Lien Secured
Party shall oppose or seek to challenge any claim by the Second Lien Collateral Agent or any other Second Lien Secured Party for allowance in any Insolvency or Liquidation Proceeding of Second Lien Obligations consisting of post-petition interest,
fees or expenses to the extent of the value of the Second Priority Liens (it being understood and agreed that such value shall be determined taking into account the First Priority Liens on the Collateral). 
 SECTION 6.05. Certain Waivers by the Second Lien Secured Parties. The Second Lien Collateral Agent, for itself and on behalf of the other
Second Lien Secured Parties, waives any claim any Second Lien Secured Party may hereafter have against any First Lien Secured Party arising out of (a) the election by any First Lien Secured Party of the application of Section 1111(b)(2) of
the Bankruptcy Code, or any comparable provision of any other Bankruptcy Law, or (b) any use of cash collateral or financing arrangement, or any grant of a security interest in the Collateral, in any Insolvency or Liquidation Proceeding.

 SECTION 6.06. Certain Voting Matters. Each of the First Lien Collateral Agent, on behalf of the First Lien Secured Parties,
and the Second Lien Collateral Agent, on behalf of the Second Lien Secured Parties, agrees that, without the written consent of the other, it will not seek to vote with the other as a single class in connection with any plan of reorganization in any
Insolvency or Liquidation Proceeding. Except as provided in this Section 6.06, nothing in this Agreement is intended, or shall be construed, to limit the ability of the Second Lien Collateral Agent or the Second Lien Secured Parties to vote on
any plan of reorganization. 
  

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 ARTICLE VII 
 Other Agreements 
 SECTION 7.01. Matters Relating to Loan Documents.
(a) The First Lien Loan Documents may be amended, restated, supplemented or otherwise modified in accordance with their terms, and the Indebtedness under the First Lien Credit Agreement may be Refinanced, in each case, without the consent of
any Second Lien Secured Party; provided, however, that, without the consent of the Second Lien Required Lenders, no such amendment, restatement, supplement, modification or Refinancing (or successive amendments, restatements, supplements,
modifications or Refinancings) shall (i) contravene any provision of this Agreement, (ii) increase by more than $20,000,000 the sum of (A) the aggregate principal amount of all loans outstanding under the First Lien Loan Documents as
of the date of this Agreement, plus (B) the amount of unused revolving credit commitments under the First Lien Loan Documents as of the date of this Agreement (provided that it is understood and agreed that for purposes of this
Section 7.01(a) there shall be deemed to be $50,000,000 in revolving credit commitments under the First Lien Loan Documents as of the date of this Agreement), plus (C) the aggregate principal amount of Indebtedness that may be
incurred pursuant to one or more incremental term loan or incremental revolving credit facilities pursuant to the First Lien Loan Documents as in effect as of the date of this Agreement, (iii) increase the “Applicable Percentage” or
similar component of the interest rate under the First Lien Loan Documents by more than 300 basis points (excluding increases resulting from the accrual of interest at the default rate) or (iv) extend the scheduled maturity date of the
Indebtedness under the First Lien Credit Agreement or any Refinancing thereof beyond the scheduled maturity of the Indebtedness under the Second Lien Credit Agreement and provided further that the holders of the Indebtedness resulting from
any such Refinancing, or a duly authorized agent on their behalf, agree in writing to be bound by the terms of this Agreement. 
 (b) Without the prior written consent of the First Lien Required Lenders, no Second Lien Loan Document may be amended, restated, supplemented or otherwise modified, or entered into, to the extent such amendment, restatement, supplement or
modification, or the terms of such new Second Lien Loan Document, would (i) contravene the provisions of this Agreement, (ii) increase the “Applicable Percentage” or similar component of the interest rate under the Second Lien
Loan Documents by more than 300 basis points (excluding increases resulting from the accrual of interest at the default rate), (iii) change to earlier dates any scheduled dates for payment of principal or of interest on Indebtedness under the
Second Lien Loan Documents, (iv) change any default or event of default provisions set forth in the Second Lien Loan Documents in a manner adverse to the First Lien Secured Parties, (v) change the redemption, prepayment or defeasance
provisions set forth in the Second Lien Loan Documents in a manner adverse to the First Lien Secured Parties, (vi) add to the Second Lien Collateral other than as specifically provided by this Agreement or (vii) otherwise materially
increase the obligations of the Borrower or the other loan parties thereunder or confer additional rights on the Second Lien 

  

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Secured Parties in a manner adverse to the First Lien Secured Parties. As an intercreditor agreement only and without prejudice to any rights of the First
Lien Lenders under the First Lien Credit Agreement (including any covenants therein that may restrict such Refinancings), Indebtedness under the Second Lien Loan Documents may be Refinanced if (A) the terms and conditions of such Refinancing
Indebtedness are no less favorable in the aggregate to the Borrower and the other loan parties thereunder and to the First Lien Secured Parties than the terms and conditions of the Indebtedness then outstanding under the Second Lien Credit
Agreement, (B) the final maturity and the average life to maturity of such Refinancing Indebtedness is at least equal to that of the Indebtedness then outstanding under the Second Lien Credit Agreement and (C) if such Refinancing
Indebtedness is secured, the holders of such Refinancing Indebtedness, or a duly authorized agent on their behalf, agree in writing to be bound by the terms of this Agreement. 
 (c) Each of the Borrower and the Second Lien Collateral Agent agrees that the Second Lien Credit Agreement and each Second Lien Security
Document shall contain the applicable provisions set forth on Annex I hereto, or similar provisions approved by the First Lien Collateral Agent, which approval shall not be unreasonably withheld or delayed. Each of the Borrower and the Second Lien
Collateral Agent further agrees that each Second Lien Mortgage covering any Collateral shall contain such other language as the First Lien Collateral Agent may reasonably request to reflect the subordination of such Second Lien Mortgage to the First
Lien Security Document covering such Collateral pursuant to this Agreement. 
 (d) In the event that the First Lien Collateral
Agent or the other First Lien Secured Parties and the relevant Grantor enter into any amendment, modification, waiver or consent in respect of any of the First Lien Security Documents (other than this Agreement), then such amendment, modification,
waiver or consent shall apply automatically to any comparable provisions of the applicable Comparable Second Lien Security Document, in each case, without the consent of any Second Lien Secured Party and without any action by the Second Lien
Collateral Agent, the Borrower or any other Grantor; provided, that (i) no such amendment, modification, waiver or consent shall (A) remove assets subject to the Second Priority Liens or release any such Liens, except to the extent
that such release is permitted or required by Section 3.04 and provided that there is a concurrent release of the corresponding First Priority Liens, (B) amend, modify or otherwise affect the rights or duties of the Second Lien Collateral
Agent without its prior written consent or (C) permit Liens on the Collateral (other than DIP Financing Liens) which are not permitted under the terms of the Second Lien Loan Documents and (ii) notice of such amendment, modification waiver
or consent shall have been given to the Second Lien Collateral Agent no later than the tenth Business Day following the effective date of such amendment, modification, waiver or consent. 
 SECTION 7.02. Effect of Refinancing of Indebtedness under First Lien Loan Documents. If, substantially contemporaneously with the Discharge
of First Lien 

  

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Obligations, the Borrower Refinances Indebtedness outstanding under the First Lien Loan Documents and provided that (a) such Refinancing is permitted
hereby and (b) the Borrower gives to the Second Lien Collateral Agent written notice (the “Refinancing Notice”) electing the application of the provisions of this Section 7.02 to such Refinancing Indebtedness, then
(i) such Discharge of First Lien Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement, (ii) such Refinancing Indebtedness and all other obligations under the loan documents evidencing such
Indebtedness (the “New First Lien Obligations”) shall automatically be treated as First Lien Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral
set forth herein, (iii) the credit agreement and the other loan documents evidencing such Refinancing Indebtedness (the “New First Lien Loan Documents”) shall automatically be treated as the First Lien Credit Agreement
and the First Lien Loan Documents and, in the case of New First Lien Loan Documents that are security documents, as the First Lien Security Documents for all purposes of this Agreement, (iv) the collateral agent under the New First Lien Loan
Documents (the “New First Lien Collateral Agent”) shall be deemed to be the First Lien Collateral Agent for all purposes of this Agreement and (v) the lenders under the New First Lien Loan Documents shall be deemed to be
the First Lien Lenders for all purposes of this Agreement. Upon receipt of a Refinancing Notice, which notice shall include the identity of the New First Lien Collateral Agent, the Second Lien Collateral Agent shall promptly enter into such
documents and agreements (including amendments or supplements to this Agreement) as the Borrower or such New First Lien Collateral Agent may reasonably request in order to provide to the New First Lien Collateral Agent the rights and powers
contemplated hereby, in each case consistent in all material respects with the terms of this Agreement. The Borrower shall cause the agreement, document or instrument pursuant to which the New First Lien Collateral Agent is appointed to provide that
the New First Lien Collateral Agent agrees to be bound by the terms of this Agreement. In furtherance of Section 2.03, if the New First Lien Obligations are secured by assets of the Grantors that do not also secure the Second Lien Obligations,
the applicable Grantors shall promptly grant a Second Priority Lien on such assets to secure the Second Lien Obligations. 
 SECTION 7.03.
No Waiver by First Lien Secured Parties. Other than with respect to the Second Lien Permitted Actions, nothing contained herein shall prohibit or in any way limit the First Lien Collateral Agent or any other First Lien Secured Party
from opposing, challenging or objecting to, in any Insolvency or Liquidation Proceeding or otherwise, any action taken, or any claim made, by the Second Lien Collateral Agent or any other Second Lien Secured Party, including any request by the
Second Lien Collateral Agent or any other Second Lien Secured Party for adequate protection or any exercise by the Second Lien Collateral Agent or any other Second Lien Secured Party of any of its rights and remedies under the Second Lien Loan
Documents or otherwise. 
 SECTION 7.04. Reinstatement. If, in any Insolvency or Liquidation Proceeding or otherwise, all or
part of any payment with respect to the First Lien Obligations previously made shall be rescinded for any reason whatsoever, then the First 

  

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Lien Obligations shall be reinstated to the extent of the amount so rescinded and, if theretofore terminated, this Agreement shall be reinstated in full
force and effect and such prior termination shall not diminish, release, discharge, impair or otherwise affect the Lien priorities and the relative rights and obligations of the First Lien Secured Parties and the Second Lien Secured Parties provided
for herein. 
 SECTION 7.05. Further Assurances. Each of the First Lien Collateral Agent, for itself and on behalf of the other
First Lien Secured Parties, and the Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, and each Grantor party hereto, for itself and on behalf of its subsidiaries, agrees that it will execute, or will
cause to be executed, any and all further documents, agreements and instruments, and take all such further actions, as may be required under any applicable law, or which the First Lien Collateral Agent or the Second Lien Collateral Agent may
reasonably request, to effectuate the terms of this Agreement, including the relative Lien priorities provided for herein. 
 ARTICLE VIII

 Representations and Warranties 
 SECTION 8.01. Representations and Warranties of Each Party. Each party hereto represents and warrants to the other parties hereto as follows: 
 (a) Such party is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and has all
requisite power and authority to execute and deliver this Agreement and perform its obligations hereunder. 
 (b) This
Agreement has been duly executed and delivered by such party and constitutes a legal, valid and binding obligation of such party, enforceable in accordance with its terms. 
 (c) The execution, delivery and performance by such party of this Agreement (i) do not require any consent or approval of,
registration or filing with or any other action by any governmental authority and (ii) will not violate any provision of law, statute, rule or regulation, or of the certificate or articles of incorporation or other constitutive documents or
by-laws of such party or any order of any governmental authority or any provision of any indenture, agreement or other instrument binding upon such party. 
 SECTION 8.02. Representations and Warranties of Each Collateral Agent. Each Collateral Agent represents and warrants to the other parties hereto that it has been authorized by the Lenders under and as
defined in the First Lien Credit Agreement or the Second Lien Credit Agreement, as applicable, to enter into this Agreement. 
  

 23 

 ARTICLE IX 
 No Reliance; No Liability; Obligations Absolute 
 SECTION 9.01. No Reliance;
Information. Each Collateral Agent, for itself and on behalf of the applicable other Secured Parties, acknowledges that (a) it and such Secured Parties have, independently and without reliance upon, in the case of the First Lien Secured
Parties, any Second Lien Secured Party and, in the case of the Second Lien Secured Parties, any First Lien Secured Party, and based on such documents and information as they have deemed appropriate, made their own credit analysis and decision to
enter into the Loan Documents to which they are party and (b) it and such Secured Parties will, independently and without reliance upon, in the case of the First Lien Secured Parties, any Second Lien Secured Party and, in the case of the Second
Lien Secured Parties, any First Lien Secured Party, and based on such documents and information as they shall from time to time deem appropriate, continue to make their own credit decision in taking or not taking any action under this Agreement or
any other Loan Document to which they are party. The First Lien Secured Parties and the Second Lien Secured Parties shall have no duty to disclose to any Second Lien Secured Party or to any First Lien Secured Party, respectively, any information
relating to the Borrower or any of the Subsidiaries, or any other circumstance bearing upon the risk of nonpayment of any of the First Lien Obligations or the Second Lien Obligations, as the case may be, that is known or becomes known to any of them
or any of their Affiliates. In the event any First Lien Secured Party or any Second Lien Secured Party, in its sole discretion, undertakes at any time or from time to time to provide any such information to, respectively, any Second Lien Secured
Party or any First Lien Secured Party, it shall be under no obligation (i) to make, and shall not make or be deemed to have made, any express or implied representation or warranty, including with respect to the accuracy, completeness,
truthfulness or validity of the information so provided, (ii) to provide any additional information or to provide any such information on any subsequent occasion or (iii) to undertake any investigation. 
 SECTION 9.02. No Warranties or Liability. (a) The First Lien Collateral Agent, for itself and on behalf of the other First Lien
Secured Parties, acknowledges and agrees that, except for the representations and warranties set forth in Article VIII, neither the Second Lien Collateral Agent nor any other Second Lien Secured Party has made any express or implied
representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the Second Lien Loan Documents, the ownership of any Collateral or the perfection or priority of any
Liens thereon. The Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, acknowledges and agrees that, except for the representations and warranties set forth in Article VIII, neither the First Lien
Collateral Agent nor any other First Lien Secured Party has made any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the First Lien
Loan Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. 
  

 24 

 (b) The Second Lien Collateral Agent and the other Second Lien Secured Parties shall have
no express or implied duty to the First Lien Collateral Agent or any other First Lien Secured Party, and the First Lien Collateral Agent and the other First Lien Secured Parties shall have no express or implied duty to the Second Lien Collateral
Agent or any other Second Lien Secured Party, to act or refrain from acting in a manner which allows, or results in, the occurrence or continuance of a default or an event of default under any First Lien Loan Document and any Second Lien Loan
Document (other than, in each case, this Agreement), regardless of any knowledge thereof which they may have or be charged with. 
 (c) The Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, agrees no First Lien Secured Party shall have any liability to the Second Lien Collateral Agent or any other Second Lien Secured Party,
and hereby waives any claim against any First Lien Secured Party, arising out of any and all actions which the First Lien Collateral Agent or the other First Lien Secured Parties may take or permit or omit to take with respect to (i) the First
Lien Loan Documents (other than this Agreement), (ii) the collection of the First Lien Obligations or (iii) the maintenance of, the preservation of, the foreclosure upon or the Disposition of any Collateral. 
 SECTION 9.03. Obligations Absolute. The Lien priorities provided for herein and the respective rights, interests, agreements and
obligations hereunder of the First Lien Collateral Agent and the other First Lien Secured Parties and the Second Lien Collateral Agent and the other Second Lien Secured Parties shall remain in full force and effect irrespective of: 
 (a) any lack of validity or enforceability of any Loan Document; 
 (b) any change in the time, place or manner of payment of, or in any other term of (including, subject to the limitations set forth in
Section 7.01(a), the Refinancing of), all or any portion of the First Lien Obligations, it being specifically acknowledged that a portion of the First Lien Obligations consists or may consist of Indebtedness that is revolving in nature, and the
amount thereof that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed; 
 (c) any change in the time, place or manner of payment of, or, subject to the limitations set forth in Section 7.01(a), in any other term of, all or any portion of the First Lien Obligations; 
 (d) any amendment, waiver or other modification, whether by course of conduct or otherwise, of any Loan Document; 
 (e) the securing of any First Lien Obligations or Second Lien Obligations with any additional collateral or Guarantees, or any exchange,
release, voiding, avoidance or non-perfection of any security interest in any Collateral or any 

  

 25 

 
other collateral or any release of any Guarantee securing any First Lien Obligations or Second Lien Obligations; or 
 (f) any other circumstances that otherwise might constitute a defense available to, or a discharge of, the Borrower or any other loan
party in respect of the First Lien Obligations or this Agreement, or any of the Second Lien Secured Parties in respect of this Agreement. 
 ARTICLE X 
 Miscellaneous 
 SECTION 10.01. Notices. Notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or
sent by fax, as follows: 
 (a) if to the Borrower, to it at 4600 Post Oak Place, Suite 200, Houston, TX 77027, Attention of
Chief Financial Officer (Fax No. (713) 622-5101, with a copy to Jackson Walker L.L.P. at 1401 McKinney, Suite 1900, Houston, Texas 77010, Attention of David G. Dunlap (Fax No. (713) 308-4101); 
 (b) if to the First Lien Collateral Agent or the Second Lien Collateral Agent, to Credit Suisse, at Eleven Madison Avenue, New York, NY
10010, Attention of Agency Group (Fax No. (212) 325-8304). 
 All notices and other communications given to any party hereto in
accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered by hand or overnight courier service or sent by fax or on the date five Business Days after dispatch by certified or registered
mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this Section 10.01 or in accordance with the latest unrevoked direction from such party given in accordance with this Section 10.01.
As agreed to between the Borrower and any Collateral Agent from time to time, notices and other communications may also be delivered by e-mail to the e-mail address of a representative of the applicable person provided from time to time by such
person. 
 SECTION 10.02. Conflicts. In the event of any conflict or inconsistency between the provisions of this Agreement and
the provisions of the other Loan Documents, the provisions of this Agreement shall control. 
 SECTION 10.03. Effectiveness;
Survival. This Agreement shall become effective when executed and delivered by the parties hereto. All covenants, agreements, representations and warranties made by any party in this Agreement shall be considered to have been relied upon by
the other parties hereto and shall survive the execution and delivery of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. The Second Lien Collateral
Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby 

  

 26 

 
waives any and all rights the Second Lien Secured Parties may now or hereafter have under applicable law to revoke this Agreement or any of the provisions of
this Agreement. 
 SECTION 10.04. Severability. In the event any one or more of the provisions contained in this Agreement
should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby (it being understood that the invalidity of
a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 10.05. Amendments; Waivers. (a) No failure or delay on the part of any party hereto in exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the
parties hereto are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any party therefrom shall in any event be effective unless the
same shall be permitted by paragraph (b) of this Section 10.05, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. 
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in
writing entered into by the First Lien Collateral Agent and the Second Lien Collateral Agent; provided that no such agreement shall amend, modify or otherwise affect the rights or obligations of any Grantor without such person’s prior
written consent. 
 SECTION 10.06. Subrogation. The Second Lien Collateral Agent, for itself and on behalf of the other Second
Lien Secured Parties, hereby waives any rights of subrogation it or they may acquire as a result of any payment hereunder until the Discharge of First Lien Obligations has occurred; provided, however, that, as between the Borrower and the
other Grantors, on the one hand, and the Second Lien Secured Parties, on the other hand, any such payment that is paid over to the First Lien Collateral Agent pursuant to this Agreement shall be deemed not to reduce any of the Second Lien
Obligations unless and until the Discharge of First Lien Obligations shall have occurred and the First Lien Collateral Agent delivers any such payment to the Second Lien Collateral Agent. 
 SECTION 10.07. Applicable Law; Jurisdiction; Consent to Service of Process. (a) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK. 
  

 27 

 (b) Each party hereto hereby irrevocably and unconditionally submits, for itself and its
property, to the exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating
to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined only in such
New York State court or, to the extent permitted by law, in such Federal court. Each party hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. 
 (c) Each party hereto hereby irrevocably and unconditionally waives, to
the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any New York State court or in
any such Federal court. Each party hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.01.
Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
 SECTION 10.08. Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.08.

 SECTION 10.09. Parties in Interest. This provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns, as well as the other First Lien Secured Parties and Second Lien Secured Parties, all of whom are intended to be bound by, and to be third party beneficiaries of, this Agreement. No other
person shall have or be entitled to assert rights or benefits hereunder. 
 SECTION 10.10. Specific Performance. Each
Collateral Agent may demand specific performance of this Agreement and, on behalf of itself and the respective 

  

 28 

 
other Secured Parties, hereby irrevocably waives any defense based on the adequacy of a remedy at law and any other defense that might be asserted to bar the
remedy of specific performance in any action which may be brought by the respective Secured Parties. 
 SECTION 10.11.
Headings. Article and Section headings used herein and the Table of Contents hereto are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in
interpreting, this Agreement. 
 SECTION 10.12. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract, and shall become effective as provided in Section 10.03. Delivery of an executed
signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 10.13. Provisions Solely to Define Relative Rights. The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the First Lien Secured Parties, on the one hand, and
the Second Lien Secured Parties, on the other hand. None of the Borrower, any other Grantor, any Guarantor or any other creditor thereof shall have any rights or obligations, except as expressly provided in this Agreement, hereunder and none of the
Borrower, any other Grantor or any Guarantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of the Borrower or any other Grantor or any Guarantor, which are absolute and unconditional, to pay
the First Lien Obligations and the Second Lien Obligations as and when the same shall become due and payable in accordance with their terms. 
 [Remainder of this page intentionally left blank] 
  

 29 

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

					
	 ATP OIL & GAS CORPORATION,

			
		 	By	 	  
		 		 	 Name:
 Title:

  

					
	 ATP ENERGY, INC.,

			
		 	By	 	  
		 		 	 Name:
 Title:

  

					
	 CREDIT SUISSE, CAYMAN ISLANDS BRANCH,
 as First Lien Collateral Agent,

			
		 	By	 	  
		 		 	 Name:
 Title:

			
		 	By	 	  
		 		 	 Name:
 Title:

  

					
	 CREDIT SUISSE, CAYMAN ISLANDS BRANCH,
 as Second Lien Collateral Agent,

			
		 	By	 	  
		 		 	 Name:
 Title:

			
		 	By	 	  
		 		 	 Name:
 Title:

  

 [Intercreditor Agreement] 

 ANNEX I 
 Provision for the Second Lien Credit Agreement 
 “Reference is made to the Intercreditor Agreement dated as of
November 22, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among the Borrower, the Subsidiaries of the Borrower party thereto, Credit Suisse, as
First Lien Collateral Agent (as defined therein), and Credit Suisse, as Second Lien Collateral Agent (as defined therein). Each Lender hereunder (a) acknowledges that it has received a copy of the Intercreditor Agreement, (b) consents to
the subordination of Liens provided for in the Intercreditor Agreement, (c) agrees that it will be bound by and will take no actions contrary to the provisions of the Intercreditor Agreement and (d) authorizes and instructs the Collateral
Agent to enter into the Intercreditor Agreement as Collateral Agent and on behalf of such Lender. The foregoing provisions are intended as an inducement to the lenders under the First Lien Credit Agreement to permit the incurrence of Indebtedness
under the Second Lien Credit Agreement and to extend credit to the Borrower and such lenders are intended third party beneficiaries of such provisions.” 
 Provision for the Second Lien Security Documents 
 “Reference is made to the Intercreditor Agreement dated as of November 22, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor
Agreement”), among the Borrower, the Subsidiaries of the Borrower party thereto, Credit Suisse, as First Lien Collateral Agent (as defined therein), and Credit Suisse, as Second Lien Collateral Agent (as defined therein).
Notwithstanding anything herein to the contrary, the lien and security interest granted to the Collateral Agent, for the benefit of the Secured Parties, pursuant to this Agreement and the exercise of any right or remedy by the Collateral Agent and
the other Secured Parties hereunder are subject to the provisions of the Intercreditor Agreement. In the event of any conflict or inconsistency between the provisions of the Intercreditor Agreement and this Agreement, the provisions of the
Intercreditor Agreement shall control.”Second Lien Credit Agreement dated as of November 22, 2006

 Exhibit 10.2 
 EXECUTION COPY 
  

 SECOND LIEN CREDIT AGREEMENT 
 dated as of November 22, 2006, 
 among 
 ATP OIL & GAS CORPORATION,

 THE LENDERS NAMED HEREIN, 
 and

 CREDIT SUISSE, 
 as
Administrative Agent and Collateral Agent 
  

 CREDIT SUISSE SECURITIES (USA) LLC, 
 as Sole Bookrunner, Sole Lead Arranger, Syndication Agent and
Documentation Agent 
  

 TABLE OF CONTENTS 
 ARTICLE I 
 DEFINITIONS 
  

					
	 SECTION 1.01.
	  	Defined Terms	  	1
	 SECTION 1.02.
	  	Terms Generally	  	25
	 SECTION 1.03.
	  	Pro Forma Calculations	  	26
	
	ARTICLE II
	
	THE CREDITS
			
	 SECTION 2.01.
	  	Commitments	  	26
	 SECTION 2.02.
	  	Loans	  	26
	 SECTION 2.03.
	  	Borrowing Procedure	  	27
	 SECTION 2.04.
	  	Evidence of Debt; Repayment of Loans	  	28
	 SECTION 2.05.
	  	Fees	  	29
	 SECTION 2.06.
	  	Interest on Loans	  	29
	 SECTION 2.07.
	  	Default Interest	  	29
	 SECTION 2.08.
	  	Alternate Rate of Interest	  	29
	 SECTION 2.09.
	  	Termination of Commitments	  	30
	 SECTION 2.10.
	  	Conversion and Continuation of Borrowings	  	30
	 SECTION 2.11.
	  	Repayment of Borrowings	  	31
	 SECTION 2.12.
	  	Optional Prepayment	  	31
	 SECTION 2.13.
	  	Mandatory Prepayments	  	32
	 SECTION 2.14.
	  	Reserve Requirements; Change in Circumstances	  	33
	 SECTION 2.15.
	  	Change in Legality	  	34
	 SECTION 2.16.
	  	Indemnity	  	35
	 SECTION 2.17.
	  	Pro Rata Treatment	  	35
	 SECTION 2.18.
	  	Sharing of Setoffs	  	35
	 SECTION 2.19.
	  	Payments	  	36
	 SECTION 2.20.
	  	Taxes	  	36
	 SECTION 2.21.
	  	Assignment of Commitments or Loans Under Certain Circumstances; Duty to Mitigate	  	37
	 SECTION 2.22.
	  	Incremental Term Loans	  	38
	
	ARTICLE III
	
	REPRESENTATIONS AND WARRANTIES
			
	 SECTION 3.01.
	  	Organization; Powers	  	40
	 SECTION 3.02.
	  	Authorization	  	40
	 SECTION 3.03.
	  	Enforceability	  	40

					
	 SECTION 3.04.
	  	Governmental Approvals	  	40
	 SECTION 3.05.
	  	Financial Statements	  	41
	 SECTION 3.06.
	  	No Material Adverse Change	  	41
	 SECTION 3.07.
	  	Title to Properties; Possession Under Leases	  	41
	 SECTION 3.08.
	  	Subsidiaries	  	42
	 SECTION 3.09.
	  	Litigation; Compliance with Laws	  	42
	 SECTION 3.10.
	  	Agreements	  	43
	 SECTION 3.11.
	  	Federal Reserve Regulations	  	43
	 SECTION 3.12.
	  	Investment Company Act	  	43
	 SECTION 3.13.
	  	Use of Proceeds	  	43
	 SECTION 3.14.
	  	Tax Returns	  	43
	 SECTION 3.15.
	  	No Material Misstatements	  	43
	 SECTION 3.16.
	  	Employee Benefit Plans	  	43
	 SECTION 3.17.
	  	Environmental Matters	  	44
	 SECTION 3.18.
	  	Insurance	  	44
	 SECTION 3.19.
	  	Security Documents	  	44
	 SECTION 3.20.
	  	Location of Oil and Gas Properties, Real Property and Leased Premises	  	45
	 SECTION 3.21.
	  	Future Commitments	  	46
	 SECTION 3.22.
	  	Labor Matters	  	46
	 SECTION 3.23.
	  	Solvency	  	46
	
	ARTICLE IV
	
	CONDITIONS OF LENDING
	
	ARTICLE V
	
	AFFIRMATIVE COVENANTS
			
	 SECTION 5.01.
	  	Existence; Businesses; Oil and Gas Properties	  	50
	 SECTION 5.02.
	  	Insurance	  	50
	 SECTION 5.03.
	  	Obligations and Taxes	  	51
	 SECTION 5.04.
	  	Financial Statements, Reserve Reports, etc	  	51
	 SECTION 5.05.
	  	Litigation and Other Notices	  	53
	 SECTION 5.06.
	  	Information Regarding Collateral	  	54
	 SECTION 5.07.
	  	Maintaining Records; Access to Properties and Inspections	  	54
	 SECTION 5.08.
	  	Use of Proceeds	  	54
	 SECTION 5.09.
	  	Further Assurances	  	54
	 SECTION 5.10.
	  	Commodity Hedging Agreements	  	55
	
	ARTICLE VI
	
	NEGATIVE COVENANTS
			
	 SECTION 6.01.
	  	Indebtedness	  	56
	 SECTION 6.02.
	  	Liens	  	57
	 SECTION 6.03.
	  	Sale and Lease-Back Transactions	  	59

  

 ii 

					
	 SECTION 6.04.
	  	Investments, Loans, Advances and Oil and Gas Property Acquisitions	  	59
	 SECTION 6.05.
	  	Mergers, Consolidations, Sales of Assets and Acquisitions	  	60
	 SECTION 6.06.
	  	Restricted Payments; Restrictive Agreements	  	61
	 SECTION 6.07.
	  	Transactions with Affiliates	  	62
	 SECTION 6.08.
	  	Business of the Borrower and Subsidiaries	  	62
	 SECTION 6.09.
	  	Other Indebtedness and Agreements	  	62
	 SECTION 6.10.
	  	Forward Sales	  	62
	 SECTION 6.11.
	  	Limitation on Commodity Hedging	  	63
	 SECTION 6.12.
	  	Interest Coverage Ratio	  	63
	 SECTION 6.13.
	  	Maximum Leverage Ratio	  	63
	 SECTION 6.14.
	  	Minimum Current Ratio	  	63
	 SECTION 6.15.
	  	Minimum Asset Coverage Ratios	  	63
	 SECTION 6.16.
	  	Designated Senior Debt	  	63
	 SECTION 6.17.
	  	Fiscal Year	  	63
	
	ARTICLE VII
	
	EVENTS OF DEFAULT
	
	ARTICLE VIII
	
	THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT
	
	ARTICLE IX
	
	MISCELLANEOUS
			
	 SECTION 9.01.
	  	Notices	  	68
	 SECTION 9.02.
	  	Survival of Agreement	  	69
	 SECTION 9.03.
	  	Binding Effect	  	69
	 SECTION 9.04.
	  	Successors and Assigns	  	69
	 SECTION 9.05.
	  	Expenses; Indemnity	  	72
	 SECTION 9.06.
	  	Right of Setoff	  	73
	 SECTION 9.07.
	  	Applicable Law	  	74
	 SECTION 9.08.
	  	Waivers; Amendment	  	74
	 SECTION 9.09.
	  	Interest Rate Limitation	  	75
	 SECTION 9.10.
	  	Entire Agreement	  	75
	 SECTION 9.11.
	  	WAIVER OF JURY TRIAL	  	75
	 SECTION 9.12.
	  	Severability	  	75
	 SECTION 9.13.
	  	Counterparts	  	76
	 SECTION 9.14.
	  	Headings	  	76
	 SECTION 9.15.
	  	Jurisdiction; Consent to Service of Process	  	76
	 SECTION 9.16.
	  	Confidentiality	  	76
	 SECTION 9.17.
	  	USA PATRIOT Act Notice	  	77
	 SECTION 9.18.
	  	Parallel Debt	  	77
	 SECTION 9.19.
	  	INTERCREDITOR AGREEMENT	  	78

  

 iii 

 Schedules 
  

			
	Schedule 1.01(a)	    	Approved Counterparties
	Schedule 1.01(b)	    	Mortgaged Properties
	Schedule 1.01(c)	    	Subsidiary Guarantors
	Schedule 2.01	    	Lenders and Commitments
	Schedule 3.08	    	Subsidiaries
	Schedule 3.09	    	Litigation
	Schedule 3.17	    	Environmental Matters
	Schedule 3.18	    	Insurance
	Schedule 3.19(a)	    	Domestic Filing Offices
	Schedule 3.19(c)	    	Mortgage Filing Offices
	Schedule 3.19(d)	    	Foreign Filing Offices
	Schedule 3.20(a)	    	Oil and Gas Properties
	Schedule 3.20(b)	    	Owned Property
	Schedule 3.20(c)	    	Other Leased Property
	Schedule 4(d)	    	Local Counsel
	Schedule 6.01	    	Outstanding Indebtedness on Closing Date
	Schedule 6.02	    	Liens Existing on Closing Date
		
	Exhibits	    	
		
	EXHIBIT A	    	Form of Administrative Questionnaire
	EXHIBIT B	    	Form of Assignment and Acceptance
	EXHIBIT C	    	Form of Borrowing Request
	EXHIBIT D	    	Form of UK Pledge Agreement
	EXHIBIT E	    	Form of Dutch Pledge Agreement
	EXHIBIT F	    	Form of Guarantee and Collateral Agreement
	EXHIBIT G	    	Form of Intercreditor Agreement
	EXHIBIT H	    	Form of Mortgage
	EXHIBIT I-1	    	Form of Opinion of Jackson Walker L.L.P.
	EXHIBIT I-2	    	Form of Local Counsel Opinions

  

 iv 

 SECOND LIEN CREDIT AGREEMENT dated as of November 22, 2006, among ATP
OIL & GAS CORPORATION, a Texas corporation (the “Borrower”), the Lenders (as defined in Article I), and CREDIT SUISSE, as administrative agent (in such capacity, the “Administrative Agent”)
and as collateral agent (in such capacity, the “Collateral Agent”) for the Lenders. 
 The Borrower has requested the
Lenders to make Term Loans (such term and each other capitalized term used but not defined in this introductory statement having the meaning given it in Article I) in an aggregate principal amount of $175,000,000. The proceeds of the Term Loans
are to be used solely (a) to repurchase, redeem or otherwise refinance the Existing Preferred Stock and (b) to pay fees and expenses incurred in connection with the Transactions. 
 The Lenders are willing to extend such credit to the Borrower on the terms and subject to the conditions set forth herein. Accordingly, the parties
hereto agree as follows: 
 ARTICLE I 
 Definitions 
 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms shall have the meanings
specified below: 
 “ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Adjusted LIBO
Rate” shall mean, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum equal to the product of (a) the LIBO Rate in effect for such Interest Period and (b) Statutory Reserves.

 “Administrative Agent” shall have the meaning assigned to such term in the preamble to this Agreement. 

“Administrative Questionnaire” shall mean an Administrative Questionnaire in the form of Exhibit A, or such other form as may
be supplied from time to time by the Administrative Agent. 
 “Affiliate” shall mean, when used with respect to a
specified person, another person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the person specified; provided, however, that, for purposes of Section 6.07,
the term “Affiliate” shall also include any person that directly or indirectly owns 5% or more of any class of Equity Interests of the person specified or that is an officer or director of the person specified. 
 “Agents” shall have the meaning assigned to such term in Article VIII. 

 “Alternate Base Rate” shall mean, for any day, a rate per annum equal to the
greater of (a) the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day plus  1/2 of 1.00%. If the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including the
inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof, the Alternate Base Rate shall be determined without regard to clause (b) of the preceding sentence until
the circumstances giving rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective on the effective date of such change in the Prime Rate or
the Federal Funds Effective Rate, as the case may be. 
 “Amendment Agreement” shall mean the Amendment
No. 1 and Agreement dated as of November 22, 2006, effecting, among other things, the amendment of the First Lien Credit Agreement to provide for the making of an additional $375,000,000 aggregate principal amount of term loans thereunder.

 “Applicable Percentage” shall mean, for any day (a) with respect to any Eurodollar Term Loan, 4.75%, or
(b) with respect to any ABR Term Loan, 3.75%. 
 “Approved Counterparty” shall mean, with respect to any Hedging
Agreement, a counterparty that, at the time such Hedging Agreement is entered into, is (a) the Administrative Agent or any Lender or any Affiliate of the Administrative Agent or a Lender, (b) any person whose senior unsecured long-term
debt is rated as Investment Grade, (c) those persons listed on Schedule 1.01(a) or (d) any other person that is reasonably acceptable to the Administrative Agent. 
 “Asset Coverage Ratios” shall mean the Reserve Coverage Ratio and the PDP Coverage Ratio. 
 “Asset Sale” shall mean the sale, transfer or other disposition (by way of merger, casualty, condemnation or otherwise) by the
Borrower or any of the Subsidiaries to any person other than the Borrower or any Subsidiary Guarantor of (a) any Equity Interests of any of the Subsidiaries (other than directors’ qualifying shares) or (b) any other assets of the
Borrower or any of the Subsidiaries (other than (i) Hydrocarbons and other inventory, damaged, obsolete or worn out assets, scrap and Permitted Investments, in each case disposed of or made in the ordinary course of business, or
(ii) dispositions between or among Foreign Subsidiaries), provided that (x) any asset sale or series of related asset sales described in clause (b) above having a value not in excess of $500,000 and (y) any asset sale
entered into by the Borrower or any Subsidiary in the good faith exercise of its business judgment, involving the sale, transfer or other disposition by the Borrower or such Subsidiary of Hydrocarbon Interests in exchange for a commitment of the
transferee to bear a disproportionate share of the costs attributable to the Oil and Gas Properties to which such Hydrocarbon Interests relate, shall be deemed not to be an “Asset Sale” for purposes of this Agreement.

  

 2 

 “Assignment and Acceptance” shall mean an assignment and acceptance entered into
by a Lender and an assignee, and accepted by the Administrative Agent, in the form of Exhibit B or such other form as shall be approved by the Administrative Agent. 
 “Bcfe” shall mean billion cubic feet equivalent, determined by using the ratio of six thousand cubic feet of natural gas to one stock tank barrel (or 42 U.S. gallons liquid volume) of crude
oil, condensate or natural gas liquids. 
 “Board” shall mean the Board of Governors of the Federal Reserve System of
the United States of America. 
 “Borrower” shall have the meaning assigned to such term in the preamble to this
Agreement. 
 “Borrowing” shall mean Loans of the same Type made, converted or continued on the same date and, in the
case of Eurodollar Loans, as to which a single Interest Period is in effect. 
 “Borrowing Request” shall mean a
request by the Borrower in accordance with the terms of Section 2.03 and substantially in the form of Exhibit C, or such other form as shall be approved by the Administrative Agent. 
 “Breakage Event” shall have the meaning assigned to such term in Section 2.16. 
 “Business Day” shall mean any day other than a Saturday, Sunday or day on which banks in New York City are authorized or required
by law to close; provided, however, that when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the
London interbank market. 
 “Capital Expenditures” shall mean, for any period, (a) the additions to property,
plant and equipment and other capital expenditures of the Borrower and its consolidated Subsidiaries that are (or should be) set forth in a consolidated statement of cash flows of the Borrower for such period prepared in accordance with GAAP and
(b) Capital Lease Obligations or Synthetic Lease Obligations incurred by the Borrower and its consolidated Subsidiaries during such period, but excluding in each case any such expenditure made to restore, replace or rebuild property to the
condition of such property immediately prior to any damage, loss, destruction or condemnation of such property, to the extent such expenditure is made with insurance proceeds, condemnation awards or damage recovery proceeds relating to any such
damage, loss, destruction or condemnation. 
 “Capital Lease Obligations” of any person shall mean the obligations of
such person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on
a balance sheet of such person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
 A “Change in Control” shall be deemed to have occurred if (a) any “person” or “group” (within the meaning of Rule 13d-5 promulgated under the Securities Exchange
Act of 1934, as 
  

 3 

 amended, as such Rule is in effect on the date hereof) other than the Management Investors shall own, directly or
indirectly, beneficially or of record, shares representing more than 40% of the aggregate ordinary voting power represented by the issued and outstanding capital stock of the Borrower, and the percentage of the aggregate ordinary voting power
represented by the shares of capital stock of the Borrower owned by such person or group exceeds the percentage of the aggregate ordinary voting power represented by the shares of capital stock of the Borrower owned by the Management Investors;
(b) a majority of the seats (other than vacant seats) on the board of directors of the Borrower shall at any time be occupied by persons who were neither (i) nominated by the board of directors of the Borrower nor (ii) appointed by
directors so nominated; or (c) any change in control (or similar event, however denominated) with respect to the Borrower or any Subsidiary shall occur under and as defined in any Junior Financing Documentation or any other indenture or
agreement in respect of Material Indebtedness to which the Borrower or a Subsidiary is a party. 
 “Change in Law”
shall mean (a) the adoption of any law, rule or regulation after the Closing Date, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing Date or
(c) compliance by any Lender (or, for purposes of Section 2.14, by any lending office of such Lender or by such Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any
Governmental Authority made or issued after the Closing Date. 
 “Charges” shall have the meaning assigned to such
term in Section 9.09. 
 “Closing Date” shall mean November 22, 2006. 
 “CNI Growth Amount” shall mean, on any date of determination, (a) 50% of Cumulative Consolidated Net Income (or, in the case
Cumulative Consolidated Net Income at the time of determination is a deficit, minus 100% of such deficit) minus (b) the aggregate amount at the time of determination of Restricted Payments made since the Closing Date pursuant to
Section 6.06(a)(ii)(C)(y). 
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

 “Collateral” shall mean all the “Collateral” as defined in any Security Document, and shall also include
the Mortgaged Properties and the Foreign Pledged Collateral. 
 “Collateral Agent” shall have the meaning assigned to
such term in the preamble to this Agreement. 
 “Commitment” shall mean, with respect to any Lender, such
Lender’s Term Loan Commitment and Incremental Term Loan Commitment. 
 “Commodity Hedging Agreement” shall mean
a commodity price risk management or purchase agreement or similar arrangement (including commodity price swap agreements, forward agreements or contracts of sale which provide for prepayment for deferred shipment or delivery of oil, gas or other
commodities). 
  

 4 

 “Confidential Information Memorandum” shall mean the Confidential Information
Memorandum of the Borrower dated November 2006. 
 “Consolidated EBITDAX” shall mean, for any period, Consolidated
Net Income for such period plus (a) without duplication and to the extent deducted in determining such Consolidated Net Income, the sum of (i) Consolidated Interest Expense for such period, (ii) consolidated income tax expense for
such period, (iii) all amounts attributable to depreciation, depletion and amortization for such period, (iv) geological and geophysical expense for such period, (v) all amounts attributable to impairment of oil and gas properties for
such period, (vi) any non-cash compensation charges, including any arising from employee stock options, taken during such period, (vii) any extraordinary losses for such period and (viii) any other non-cash charges (other than the
write-down of current assets) for such period, and minus (b) without duplication (i) all cash payments made during such period on account of non-cash charges added to Consolidated Net Income pursuant to clauses (a)(vi) or (viii) above
in a previous period and (ii) to the extent included in determining such Consolidated Net Income, any extraordinary gains and all non-cash items of income for such period, all determined on a consolidated basis in accordance with GAAP.

 “Consolidated Interest Expense” shall mean, for any period, the sum of (a) the interest expense (including
imputed interest expense in respect of Capital Lease Obligations and Synthetic Lease Obligations) of the Borrower and the Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, (b) any interest accrued during
such period in respect of Indebtedness of the Borrower or any Subsidiary that is required to be capitalized rather than included in consolidated interest expense for such period in accordance with GAAP and (c) the aggregate amount of all
dividends in respect of Preferred Equity Interests paid in cash by the Borrower and the Subsidiaries during such period. For purposes of the foregoing, interest expense shall be determined after giving effect to any net payments made or received by
the Borrower or any Subsidiary with respect to Interest Rate Hedging Agreements. 
 “Consolidated Net Income” shall
mean, for any period, the net income or loss of the Borrower and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income of any Subsidiary to the
extent that the declaration or payment of dividends or similar distributions by the Subsidiary of that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree, statute, rule or
governmental regulation applicable to such Subsidiary, (b) the income or loss of any person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the Borrower or any Subsidiary or the date that such
person’s assets are acquired by the Borrower or any Subsidiary, (c) the income of any person in which any other person (other than the Borrower or a wholly owned Subsidiary or any director holding qualifying shares in accordance with
applicable law) has a joint interest, except to the extent of the amount of dividends or other distributions actually paid to the Borrower or a wholly owned Subsidiary by such person during such period and (d) any gains attributable to sales of
assets out of the ordinary course of business. 
 “Control” shall mean the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of a person, whether through the ownership of voting securities, by contract or otherwise, and the terms “Controlling” and
“Controlled” shall have meanings correlative thereto. 
  

 5 

 “Cumulative Consolidated Net Income” shall mean, as of any date of determination,
Consolidated Net Income of the Borrower and the Subsidiaries, less the aggregate amount of dividends on, or accretion of, Preferred Equity Interests, for the period (taken as one accounting period) commencing on January 1, 2006 and ending on
the last day of the most recent fiscal quarter or fiscal year, as applicable, for which financial statements required to be delivered pursuant to Section 5.04(a) or (b), and the related certificate required to be delivered pursuant to
Section 5.04(c), have been received by the Administrative Agent. 
 “Current Assets” shall mean, at any time,
the consolidated current assets of the Borrower and the Subsidiaries. 
 “Current Liabilities” shall mean, at any
time, the consolidated current liabilities of the Borrower and the Subsidiaries at such time, but excluding the current portion of any long-term Indebtedness. 
 “Current Ratio” shall mean, at any time, the ratio of Current Assets at such time to Current Liabilities at such time. For purposes of calculating the Current Ratio, each of Current Assets and
Current Liabilities shall exclude (a) gains and losses resulting from the mark-to-market of commodity price risk management transactions in accordance with FASB 133 and (b) non-cash allocations to expense and other non-cash adjustments in
accordance with FASB 143. 
 “Declined Proceeds” shall have the meaning assigned to such term in
Section 2.12(g). 
 “Default” shall mean any event or condition which upon notice, lapse of time or both would
constitute an Event of Default. 
 “Disqualified Capital Stock” shall mean any Equity Interest which, by its terms
(or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof, in whole or in part, or requires the payment of any cash dividend or any other scheduled payment constituting a return
of capital, in each case at any time on or prior to the first anniversary of the Maturity Date, or (b) is convertible into or exchangeable (unless at the sole option of the issuer thereof) for (i) debt securities or (ii) any Equity
Interest referred to in clause (a) above, in each case prior to the first anniversary of the Maturity Date. 
 “dollars” or “$” shall mean lawful money of the United States of America. 
 “Domestic Oil and Gas Properties” shall mean the Oil and Gas Properties of the Borrower and the Domestic Subsidiaries. 
 “Domestic Subsidiaries” shall mean all Subsidiaries incorporated or organized under the laws of the United States of America, any State thereof or the District of Columbia. 
  

 6 

 “Dutch Parallel Debt” shall mean, with respect to any Loan Party and in
any given currency at any given time, an amount equal to the aggregate amount of such Loan Party’s Underlying Debt Obligations at such time expressed in the currency thereof. 
 “Dutch Sector” shall mean the jurisdiction of The Netherlands commonly referred to as the Dutch Sector—North Sea.

 “Dutch Security Agreements” shall have the meaning assigned to such term in Section 9.18. 
 “Environmental Laws” shall mean all former, current and future Federal, state, local and foreign laws (including common law),
treaties, regulations, rules, ordinances, codes, decrees, judgments, directives, orders (including consent orders), and agreements in each case, relating to protection of the environment, natural resources, human health and safety or the presence,
Release of, or exposure to, Hazardous Materials, or the generation, manufacture, processing, distribution, use, treatment, storage, transport, recycling or handling of, or the arrangement for such activities with respect to, Hazardous Materials.

 “Environmental Liability” shall mean all liabilities, obligations, damages, losses, claims, actions, suits,
judgments, orders, fines, penalties, fees, expenses and costs (including administrative oversight costs, natural resource damages and remediation costs), whether contingent or otherwise, arising out of or relating to (a) compliance or
non-compliance with any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release of any Hazardous
Materials or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
 “Equity Interests” shall mean shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity
interests in any person. 
 “Equity Issuance” shall mean any issuance or sale by the Borrower or any Subsidiary of
any Equity Interests of the Borrower or any such Subsidiary, as applicable, except in each case for (a) any issuance or sale to the Borrower or any Subsidiary, (b) any issuance of Disqualified Capital Stock, (c) any issuance of
directors’ qualifying shares, (d) sales or issuances of common stock of the Borrower to management or employees of the Borrower or any Subsidiary under any employee stock option or stock purchase plan or employee benefit plan in existence
from time to time and (e) issuances of common stock of the Borrower pursuant to the exercise from time to time of any warrants issued and outstanding on the Closing Date. 
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as the same may be amended from time to time. 

“ERISA Affiliate” shall mean any trade or business (whether or not incorporated) that, together with the Borrower, is treated
as a single employer under Section 414(b) or (c) of the Code, or solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code. 
  

 7 

 “ERISA Event” shall mean (a) any “reportable event”, as defined in
Section 4043 of ERISA or the regulations issued thereunder, with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the
minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan or the withdrawal or partial withdrawal of
the Borrower or any of its ERISA Affiliates from any Plan or Multiemployer Plan; (e) the receipt by the Borrower or any of its ERISA Affiliates from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan
or Plans or to appoint a trustee to administer any Plan; (f) the adoption of any amendment to a Plan that would require the provision of security pursuant to Section 401(a)(29) of the Code or Section 307 of ERISA; (g) the receipt
by the Borrower or any of its ERISA Affiliates of any notice, or the receipt by any Multiemployer Plan from the Borrower or any of its ERISA Affiliates of any notice, concerning the imposition of Withdrawal Liability or a determination that a
Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; (h) the occurrence of a “prohibited transaction” with respect to which the Borrower or any of the Subsidiaries is a
“disqualified person” (within the meaning of Section 4975 of the Code) or with respect to which the Borrower or any such Subsidiary could otherwise be liable; (i) any Foreign Benefit Event; or (j) any other event or
condition with respect to a Plan or Multiemployer Plan that could result in liability of the Borrower or any Subsidiary. 
 “Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.

 “Event of Default” shall have the meaning assigned to such term in Article VII. 
 “Excess Cash Flow” shall mean, for any fiscal year of the Borrower, the excess of (a) the sum, without duplication, of
(i) Consolidated EBITDAX for such fiscal year and (ii) reductions to noncash working capital of the Borrower and the Subsidiaries for such fiscal year (i.e., the decrease, if any, in Current Assets (other than cash and Permitted
Investments) minus Current Liabilities from the beginning to the end of such fiscal year) over (b) the sum, without duplication, of (i) the amount of any Taxes payable in cash by the Borrower and the Subsidiaries with respect to such
fiscal year, (ii) Consolidated Interest Expense for such fiscal year payable in cash, (iii) Capital Expenditures made in cash during such fiscal year, except to the extent financed with the proceeds of Indebtedness, equity issuances,
casualty proceeds, condemnation proceeds or other proceeds that would not be included in Consolidated EBITDAX, (iv) permanent repayments of Indebtedness (other than mandatory prepayments of Loans under Section 2.13 or mandatory prepayments
of term loans under the First Lien Credit Agreement pursuant to the mandatory prepayment provisions thereof) made by the Borrower and the Subsidiaries during such fiscal year, but only to the extent that such prepayments by their terms cannot be
reborrowed or redrawn and do not occur in connection with a refinancing of all or any portion of such Indebtedness and (v) additions to noncash working capital for such fiscal year (i.e., the increase, if any, in Current Assets (other
than cash and Permitted Investments) minus Current Liabilities from the beginning to the end of such fiscal year). 
  

 8 

 “Exchange Rate” shall mean, on any day, with respect to any foreign currency, the
noon buying rate in New York City for such foreign currency on such date for cable transfers as certified for customs purposes by the Federal Reserve Bank of New York. 
 “Excluded Taxes” shall mean, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder,
(a) income or franchise taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of
any Lender, in which its applicable lending office is located, (b) any branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction described in clause (a) above and (c) in the case
of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section 2.21(a)), any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this
Agreement (or designates a new lending office) or is attributable to such Foreign Lender’s failure to comply with Section 2.20(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of
designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 2.20(a). 
 “Existing Preferred Stock” shall mean the Series A Preferred Stock and the Series B Preferred Stock. 
 “FASB 133” means Statement No. 133 of the Financial Accounting Standards Board, “Accounting for Derivative Instruments
and Hedging Activities”, as amended or supplemented from time to time. 
 “FASB 143” means Statement
No. 143 of the Financial Accounting Standards Board, “Accounting for Asset Retirement Obligations”, as amended or supplemented from time to time. 
 “Federal Funds Effective Rate” shall mean, for any day, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal
funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of
the quotations for the day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
 “Fee Letter” shall mean the Fee Letter dated March 23, 2004, between the Borrower and the Administrative Agent (it being acknowledged and agreed between the Borrower and the Administrative
Agent that the “Facilities” referred to therein shall be deemed to refer to the term loan facilities provided for by this Agreement). 
 “Financial Officer” of any person shall mean the chief financial officer, principal accounting officer, treasurer or controller of such person. 
  

 9 

 “First Lien Credit Agreement” shall mean the Second Amended and Restated Credit
Agreement dated as of June 22, 2006, as amended by the Amendment Agreement and otherwise from time to time, among the Borrower, the lenders from time to time party thereto and Credit Suisse, as administrative agent and collateral agent.

 “First Lien Facilities” shall mean the senior secured first lien term loan facility and any senior secured first
lien revolving credit facility provided to the Borrower pursuant to the First Lien Credit Agreement. 
 “First Lien Facility
Documents” shall have the meaning assigned to the term “Loan Documents” in the First Lien Credit Agreement. 
 “First Priority Liens” shall have the meaning assigned to such term in the Intercreditor Agreement. 
 “Foreign Benefit Event” shall mean, with respect to any Foreign Pension Plan, (a) the existence of unfunded liabilities in excess of the amount permitted under any applicable law, or in excess of the amount that
would be permitted absent a waiver from a Governmental Authority, (b) the failure to make the required contributions or payments under any applicable law on or before the due date for such contributions or payments, (c) the receipt of a
notice by a Governmental Authority relating to the intention to terminate any such Foreign Pension Plan or to appoint a trustee or similar official to administer any such Foreign Pension Plan, or alleging the insolvency of any such Foreign Pension
Plan, (d) the incurrence of any liability in excess of $2,500,000 by the Borrower or any of the Subsidiaries under applicable law on account of the complete or partial termination of such Foreign Pension Plan or the complete or partial
withdrawal of any participating employer therein or (e) the occurrence of any transaction that is prohibited under any applicable law and could reasonably be expected to result in the incurrence of any liability by the Borrower or any of the
Subsidiaries, or the imposition on the Borrower or any of the Subsidiaries of any fine, excise tax or penalty resulting from any noncompliance with any applicable law, in each case in excess of $2,500,000. 
 “Foreign Lender” shall mean any Lender that is organized under the laws of a jurisdiction other than that in which the Borrower
is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 
 “Foreign Pension Plan” shall mean any benefit plan that under applicable law is required to be funded through a trust or other
funding vehicle other than a trust or funding vehicle maintained exclusively by a Governmental Authority. 
 “Foreign Pledge
Agreements” shall mean the collective reference to (a) the Charge of Shares in ATP Oil & Gas (UK) Limited, substantially in the form of Exhibit D, between the Borrower and the Collateral Agent and (b) the Second
Lien Pledge of Shares in the capital of ATP Oil & Gas (Netherlands) B.V., substantially in the form of Exhibit E, among the Borrower, ATP Oil & Gas (Netherlands) B.V. and the Collateral Agent, each for the ratable benefit of
the Secured Parties. 
  

 10 

 “Foreign Pledged Collateral” shall mean the Equity Interests pledged by the
Borrower or any Subsidiary under the Foreign Pledge Agreements, for the ratable benefit of the Secured Parties, to secure the Obligations. 
 “Foreign Subsidiary” shall mean any Subsidiary that is not a Domestic Subsidiary. 
 “GAAP” shall mean United States generally accepted accounting principles applied on a consistent basis. 
 “Governmental Authority” shall mean any Federal, state, local or foreign court or governmental agency, authority, instrumentality or regulatory body. 
 “Granting Lender” shall have the meaning assigned to such term in Section 9.04(i). 
 “Guarantee” of or by any person shall mean any obligation, contingent or otherwise, of such person guaranteeing or having the
economic effect of guaranteeing any Indebtedness or other obligation of any other person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such person, direct or indirect,
(a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness or
other obligation, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment of such Indebtedness or other obligation or (c) to maintain working
capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation; provided, however, that the term
“Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. 
 “Guarantee and Collateral Agreement” shall mean the Second Lien Guarantee and Collateral Agreement, substantially in the form of Exhibit F, among the Borrower, the Subsidiaries party thereto and the Collateral Agent
for the ratable benefit of the Secured Parties. 
 “Hazardous Materials” shall mean (a) any petroleum products
or byproducts and all other hydrocarbons, coal ash, radon gas, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, chlorofluorocarbons and all other ozone-depleting substances and (b) any chemical, material, substance or
waste that is prohibited, limited or regulated by or pursuant to any Environmental Law. 
 “Hedging Agreement” shall
mean any Commodity Hedging Agreement, Interest Rate Hedging Agreement or foreign currency exchange agreement or other currency exchange rate hedging arrangement. 
 “Hydrocarbons” shall mean oil, gas, casinghead gas, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons, all products directly or indirectly refined, separated, settled and
dehydrated therefrom, including kerosene, liquefied petroleum gas, refined lubricating oils, diesel fuel, drip gasoline, natural gasoline, helium, sulfur and all other minerals. 
  

 11 

 “Hydrocarbon Interests” shall mean all rights, titles, interests and estates now
owned or hereafter acquired in and to oil and gas leases, leasehold interests and licenses, oil, gas and mineral leases, leasehold interests and licenses, or other liquid or gaseous hydrocarbon licenses, leases, fee mineral interests, term mineral
interests, subleases, farm-outs, royalties, overriding royalty and royalty interests, non-consent interests arising out of or pursuant to Oil and Gas Contracts, net profit interests, net revenue interests, oil payments, production payments,
production payment interests and similar interests and estates, including all reserved or residual interest of whatever nature and all reversionary or carried interests relating to any of the foregoing. 
 “Incremental Term Loan Borrowing” shall mean a Borrowing comprised of Incremental Term Loans. 
 “Incremental Term Loan Lender” shall mean a Lender with an Incremental Term Loan Commitment or an outstanding Incremental Term
Loan. 
 “Incremental Term Loan Amount” shall mean, at any time, the excess, if any, of (a) $100,000,000 over
(b) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.22. 
 “Incremental Term Loan Assumption Agreement” shall mean an Incremental Term Loan Assumption Agreement among, and in form and substance reasonably satisfactory to, the Borrower, the Administrative Agent and one or
more Incremental Term Loan Lenders. 
 “Incremental Term Loan Commitment” shall mean the commitment of any Lender,
established pursuant to Section 2.22, to make Incremental Term Loans to the Borrower. 
 “Incremental Term Loan Maturity
Date” shall mean the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement. 
 “Incremental Term Loans” shall mean Term Loans made by one or more Lenders to the Borrower pursuant to Section 2.01(b). Incremental Term Loans may be made in the form of additional Term
Loans or, to the extent permitted by Section 2.22 and provided for in the relevant Incremental Term Loan Assumption Agreement, Other Term Loans. 
 “Indebtedness” of any person shall mean, without duplication, (a) all obligations of such person for borrowed money or with respect to deposits or advances of any kind, (b) all
obligations of such person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such person upon which interest charges are customarily paid, (d) all obligations of such person under conditional sale or
other title retention agreements relating to property or assets purchased by such person, (e) all obligations of such person issued or assumed as the deferred purchase price of property or services (excluding trade accounts payable and accrued
obligations incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or
acquired by such person, whether or not the obligations secured thereby have been assumed, (g) all Guarantees by such person of Indebtedness of others, (h) all Capital Lease Obligations and Synthetic Lease Obligations of such 

 

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 person, (i) all obligations of such person as an account party in respect of letters of credit, (j) all
obligations of such person in respect of bankers’ acceptances and (k) the liquidation preference of, and all other obligations of such person in respect of, Disqualified Capital Stock of such person. The Indebtedness of any person shall
include the Indebtedness of any partnership in which such person is a general partner. 
 “Indemnified Taxes” shall
mean Taxes other than Excluded Taxes. 
 “Indemnitee” shall have the meaning assigned to such term in
Section 9.05. 
 “Independent Engineering Firm” shall mean Ryder Scott Company L.P., RPS Energy, DeGolyer
and MacNaughton, Collarini Associates and/or one or more other independent engineering firms selected by the Borrower and reasonably acceptable to the Administrative Agent. 
 “Information” shall have the meaning assigned to such term in Section 9.16. 
 “Intercreditor Agreement” shall mean the Intercreditor Agreement, substantially in the form of Exhibit G, among the Borrower, the
Subsidiaries party thereto, the First Lien Collateral Agent (as defined therein) and the Second Lien Collateral Agent (as defined therein). 
 “Interest Coverage Ratio” shall mean, for any period, the ratio of (a) Consolidated EBITDAX for such period to (b) Consolidated Interest Expense for such period. For purposes of determining the Interest
Coverage Ratio for the period of four consecutive quarters ended December 31, 2006 and March 31, 2007, Consolidated EBITDAX shall be deemed to be equal to (a) Consolidated EBITDAX for the two consecutive fiscal quarters ended
December 31, 2006, multiplied by 2 and (b) Consolidated EBITDAX for the three consecutive fiscal quarters ended March 31, 2007, multiplied by 4/3, respectively. 
 “Interest Payment Date” shall mean (a) with respect to any ABR Loan, the last Business Day of each March, June, September
and December, and (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than three
months’ duration, each day that would have been an Interest Payment Date had successive Interest Periods of three months’ duration been applicable to such Borrowing. 
 “Interest Period” shall mean, with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) in the calendar month that is 1, 2, 3 or 6 months thereafter, as the Borrower may elect; provided, however, that if any
Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest
Period shall end on the next preceding Business Day. Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be
the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 
  

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 “Interest Rate Hedging Agreement” shall mean any interest rate swap, cap or
collar agreement or other interest rate protection agreement or interest rate hedging arrangement. 
 “Investment
Grade” shall mean a rating of BBB- or higher by S&P or Baa3 or higher by Moody’s. 
 “Junior Financing
Documentation” shall mean any indenture or other documentation governing any Permitted Subordinated Indebtedness. 
 “Lenders” shall mean (a) the persons listed on Schedule 2.01 (other than any such person that has ceased to be a party hereto pursuant to an Assignment and Acceptance) and (b) any person that has become a
party hereto pursuant to an Assignment and Acceptance. 
 “Leverage Ratio” shall mean, on any date, the ratio of
Total Net Debt on such date to Consolidated EBITDAX for the period of four consecutive fiscal quarters most recently ended on or prior to such date. For purposes of determining the Leverage Ratio at December 31, 2006 and March 31, 2007,
Consolidated EBITDAX for the period of four consecutive fiscal quarters most recently ended on or prior to such dates, shall be deemed to be equal to (a) Consolidated EBITDAX for the two consecutive fiscal quarters ended December 31, 2006,
multiplied by 2 and (b) Consolidated EBITDAX for the three consecutive fiscal quarters ended March 31, 2007, multiplied by 4/3, respectively. 
 “LIBO Rate” shall mean, with respect to any Eurodollar Borrowing for any Interest Period, the rate per annum determined by the Administrative Agent at approximately 11:00 a.m., London time, on
the date that is two Business Days prior to the commencement of such Interest Period by reference to the British Bankers’ Association Interest Settlement Rates for deposits in dollars (as set forth by any service selected by the Administrative
Agent that has been nominated by the British Bankers’ Association as an authorized information vendor for the purpose of displaying such rates) for a period equal to such Interest Period; provided that, to the extent that an interest
rate is not ascertainable pursuant to the foregoing provisions of this definition, the “LIBO Rate” shall be the interest rate per annum determined by the Administrative Agent to be the average of the rates per annum at which
deposits in dollars are offered for such relevant Interest Period to major banks in the London interbank market in London, England by the Administrative Agent at approximately 11:00 a.m., London time, on the date that is two Business Days prior to
the beginning of such Interest Period. 
 “Lien” shall mean, with respect to any asset, (a) any mortgage, deed
of trust, lien, pledge, encumbrance, charge or security interest in or on such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having
substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 
 “Loan Documents” shall mean this Agreement, the Security Documents and each Incremental Term Loan Assumption Agreement.

 “Loan Parties” shall mean the Borrower and the Subsidiary Guarantors. 
  

 14 

 “Loans” shall mean the Term Loans. 
 “Management Investors” shall mean the directors, executive officers and other management employees of the Borrower on the Closing
Date. 
 “Margin Stock” shall have the meaning assigned to such term in Regulation U. 
 “Material Adverse Effect” shall mean (a) a materially adverse effect on the business, assets, operations, condition
(financial or otherwise) or prospects of the Borrower and the Subsidiaries, taken as a whole, (b) a material impairment of the ability of the Borrower or any other Loan Party to perform any of its obligations under any Loan Document to which it
is or will be a party or (c) a material impairment of the rights of or benefits available to the Lenders under any Loan Document. 
 “Material Indebtedness” shall mean Indebtedness (other than the Loans), or obligations in respect of one or more Hedging Agreements, of any one or more of the Borrower and the Subsidiaries in an aggregate principal
amount exceeding $10,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate
amount (giving effect to any netting agreements) that the Borrower or such Subsidiary would be required to pay if such Hedging Agreement were terminated at such time. 
 “Maturity Date” shall mean October 14, 2010. 
 “Maximum
Rate” shall have the meaning assigned to such term in Section 9.09. 
 “Moody’s” shall mean
Moody’s Investors Service, Inc., or any successor thereto. 
 “Mortgaged Properties” shall mean, initially, the
Domestic Oil and Gas Properties and other owned real properties and leasehold and subleasehold interests of the Loan Parties specified on Schedule 1.01(b), and shall include each Domestic Oil and Gas Property and each other parcel of real property
and improvements thereto with respect to which a Mortgage is granted pursuant to Section 5.09. 
 “Mortgages”
shall mean the mortgages, deeds of trust, leasehold mortgages, assignments of leases and rents, assignments of production, modifications and other security documents delivered pursuant to clause (i) of paragraph (n) of Article IV or
pursuant to Section 5.09, each substantially in the form of Exhibit H. 
 “Multiemployer Plan” shall mean a
multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
 “Net Cash Proceeds” shall mean (a) with
respect to any Asset Sale, the cash proceeds (including cash proceeds subsequently received (as and when received) in respect of noncash consideration initially received), net of (i) selling expenses (including reasonable broker’s fees or
commissions, legal fees, transfer and similar taxes and the Borrower’s good faith estimate of income taxes paid or payable in connection with such sale), (ii) amounts provided as a reserve, in accordance with GAAP, against any liabilities
under any indemnification obligations or purchase 
  

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 price adjustment associated with such Asset Sale (provided that, to the extent and at the time any such amounts
are released from such reserve, such amounts shall constitute Net Cash Proceeds) and (iii) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness for borrowed money which is secured by the asset sold in
such Asset Sale and which is required to be repaid with such proceeds (other than any such Indebtedness assumed by the purchaser of such asset); provided, however, that, if no Default or Event of Default shall have occurred and shall
be continuing at the time of the receipt of such proceeds or at the proposed time of the application thereof, such proceeds shall not constitute Net Cash Proceeds to the extent reinvested or contractually committed to be reinvested in productive
assets of a kind then used or usable in the business of the Borrower and the Subsidiaries within 180 days of such receipt; and (b) with respect to any issuance or incurrence of Indebtedness or any Equity Issuance, the cash proceeds thereof, net
of all taxes and customary fees, commissions, costs and other expenses incurred in connection therewith. 
 “North
Sea” shall mean, collectively, the Dutch Sector and the UK Sector, and surrounding areas of the North Sea. 
 “Obligations” shall mean all obligations defined as “Obligations” in the Guarantee and Collateral Agreement and the other Security Documents. 
 “Oil and Gas Business” shall mean (a) the acquisition, exploration, exploitation, development, operation and disposition of
interests in Oil and Gas Properties and Hydrocarbons; (b) the gathering, treating, processing, storage and selling of any production from such interests or properties; and (c) any business directly relating to or arising directly from
exploration for, or development, production, treatment, processing, storage or selling of, Hydrocarbons, or that is or necessary or desirable to facilitate the activities described in this definition. 
 “Oil and Gas Contracts” shall mean all contracts, agreements, operating agreements, farm-out or farm-in agreements, sharing
agreements, mineral purchase agreements, contracts for the purchase, exchange, transportation, processing or sale of Hydrocarbons, rights-of-way, easements, surface leases, equipment leases, permits, franchises, licenses, pooling or unitization
agreements, and unit or pooling designations and orders now or hereafter affecting any of the Oil and Gas Properties (or related oil and gas gathering assets) or Hydrocarbon Interests of the Borrower and the Subsidiaries, or which are useful or
appropriate in drilling for, producing, treating, handling, storing, transporting or marketing oil, gas or other minerals produced from any of the Oil and Gas Properties of the Borrower and the Subsidiaries, as any such contracts and agreements as
they may be amended, restated, modified, substituted or supplemented from time to time. 
 “Oil and Gas Properties”
shall mean (a) Hydrocarbon Interests; (b) the properties now or hereafter pooled or unitized with Hydrocarbon Interests; (c) all currently existing or future rights arising under (i) unitization agreements, orders or other
arrangements, (ii) pooling orders, agreements or other arrangements and (iii) declarations of pooled units and the units created thereby (including all units created under orders, regulations and rules of any Governmental Authority having
jurisdiction) which may affect all or any portion of the Hydrocarbon Interests; (d) all pipelines, gathering lines, compression facilities, tanks and processing plants; (e) all interests held in royalty trusts whether currently existing or
hereafter created; (f) all 
  

 16 

 Hydrocarbons in and under and which may be produced, saved, processed or attributable to the Hydrocarbon Interests, the
lands covered thereby and all Hydrocarbons in pipelines, gathering lines, tanks and processing plants and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; (g) all
tenements, hereditaments, appurtenances, interests and properties in any way appertaining, belonging, affixed or incidental to the Hydrocarbon Interests, and all rights, titles, interests and estates described or referred to above (including
(i) any and all real property, now owned or hereafter acquired, used or held for use in connection with the operating, working or development of any of such Hydrocarbon Interests or property and (ii) any and all surface leases,
rights-of-way, easements and servitudes together with all additions, substitutions, replacements, accessions and attachments to any and all of the foregoing); and (h) all production units, and drilling and spacing units (and the properties
covered thereby) which may affect all or any portion of the other Oil and Gas Properties and any units created by agreement or designation or under orders, regulations, rules or other official acts of any Governmental Authority having jurisdiction.

 “Other Taxes” shall mean any and all present or future stamp or documentary taxes or any other excise or property
taxes, charges or similar levies arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document. 
 “Other Term Loans” shall have the meaning assigned to such term in Section 2.22(a). 
 “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA. 
 “PDP” shall mean Proved Developed Reserves that are categorized as producing in accordance with the petroleum reserves
definitions promulgated by the Society of Petroleum Engineers (SPE) Inc. from time to time. 
 “PDP Coverage Ratio”
shall mean, on any date of determination, the ratio of PV-10 Value (determined by substituting the phrase “from PDP production on the Borrower’s and the Subsidiaries’ Oil and Gas Properties” for the phrase “from Proved
Reserves on the Borrower’s and the Subsidiaries’ Oil and Gas Properties” appearing in the second line of the definition thereof) on such date to Total Net Debt on such date; provided that Total Net Debt for this purpose shall
exclude any Permitted Subordinated Indebtedness incurred pursuant to Section 6.01(i). 
 “Perfection
Certificate” shall mean the Perfection Certificate substantially in the form of Exhibit B to the Guarantee and Collateral Agreement. 
 “Permitted Business Investments” shall mean investments made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business as a means of
actively exploiting, exploring for, acquiring, developing, processing, gathering, marketing, storing, treating, selling or transporting oil and gas through agreements, transactions, interests or arrangements (including those that permit a person to
share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of Oil and Gas Business jointly with third parties), including the 
  

 17 

 entry into or acquisition of operating agreements, working interests, royalty interests, mineral leases, processing
agreements, farm-out and farm-in agreements, division orders, contracts for the sale, transportation or exchange of oil or natural gas, unitization and pooling declarations and agreements and area of mutual interest agreements, production sharing
agreements or other similar or customary agreements, transactions, properties, interests, and investments and expenditures in connection therewith (with the amount thereof measured at the time initially made); provided that an investment in
Equity Interests in a person shall not constitute a Permitted Business Investment. 
 “Permitted Investments” shall
mean: 
 (a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by,
the United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof; 

(b) investments in commercial paper maturing within 270 days from the date of acquisition thereof and having, at such date of
acquisition, the highest credit rating obtainable from S&P or from Moody’s; 
 (c) investments in certificates of
deposit, banker’s acceptances and time deposits maturing within one year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, the Administrative Agent or any
domestic office of any commercial bank organized under the laws of the United States of America or any State thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000; 
 (d) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and
entered into with a financial institution satisfying the criteria of clause (c) above; 
 (e) investments in “money
market funds” within the meaning of Rule 2a-7 of the Investment Company Act of 1940, as amended, substantially all of whose assets are invested in investments of the type described in clauses (a) through (d) above; 
 (f) investments in so-called “auction rate” securities rated AA or higher by S&P or Aa or higher by Moody’s and which
have a reset date not more than 90 days from the date of acquisition thereof; and 
 (g) other short-term investments utilized
by Foreign Subsidiaries in accordance with normal investment practices for cash management in investments of a type analogous to the foregoing. 
 “Permitted Refinancing Indebtedness” shall mean any Indebtedness issued in exchange for, or the Net Cash Proceeds of which are used to extend, refinance, renew, replace, defease or refund (collectively, to
“Refinance”), the Indebtedness being Refinanced (or previous refinancings thereof constituting Permitted Refinancing Indebtedness); provided that (a) other than in the case of Indebtedness under the First Lien
Credit Agreement (with respect to which the 
  

 18 

 applicable provisions of the Intercreditor Agreement shall govern), the principal amount (or accreted value, if
applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so Refinanced (plus unpaid accrued interest and premium thereon and underwriting discounts or
commissions and other fees and expenses in connection therewith), (b) other than in the case of Indebtedness under the First Lien Credit Agreement (with respect to which the applicable provisions of the Intercreditor Agreement shall govern),
the maturity date of such Permitted Refinancing Indebtedness is no earlier than the first anniversary of the Maturity Date, (c) the average life to maturity of such Permitted Refinancing Indebtedness is greater than or equal to that of the
Indebtedness being Refinanced, (d) if the Indebtedness being Refinanced is subordinated in right of payment to the Obligations, such Permitted Refinancing Indebtedness shall be subordinated in right of payment to the Obligations on terms at
least as favorable to the Lenders as those contained in the documentation governing the Indebtedness being Refinanced, (e) no Permitted Refinancing Indebtedness shall have obligors that are not Loan Parties hereunder, or greater guarantees or
security, than the Indebtedness being Refinanced and (f) in the case of any Permitted Subordinated Indebtedness, such Permitted Refinancing Indebtedness shall have no scheduled amortization, payments of principal, sinking fund payments or
similar scheduled payments (other than regularly scheduled payments of interest), and shall have provisions relating to mandatory prepayment, repurchase, redemption and offers to purchase that are consistent with the Indebtedness so Refinanced.

 “Permitted Subordinated Indebtedness” means any unsecured Indebtedness that (a) is expressly subordinated to
the prior payment in full in cash of the Obligations on terms and conditions no less favorable to the Lenders than those customarily found in senior subordinated notes issued under Rule 144A of the Securities Act or in a public offering, as
reasonably determined by the Administrative Agent, (b) will not mature prior to the first anniversary of the Maturity Date, (c) has no scheduled amortization, payments of principal, sinking fund payments or similar scheduled payments
(other than regularly scheduled payments of interest), (d) has covenant, default and remedy provisions no more restrictive or expansive in scope than those customarily found in senior subordinated notes issued under Rule 144A of the
Securities Act or in a public offering, as reasonably determined by the Administrative Agent and (e) has provisions relating to mandatory prepayment, repurchase, redemption and offers to purchase that are consistent with those customarily found
in senior subordinated notes issued under Rule 144A of the Securities Act or in a public offering, as reasonably determined by the Administrative Agent. 
 “person” shall mean any natural person, corporation, business trust, joint venture, association, company, limited liability company, partnership, Governmental Authority or other entity.

 “Plan” shall mean any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of
Title IV of ERISA or Section 412 of the Code or Section 307 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an
“employer” as defined in Section 3(5) of ERISA. 
  

 19 

 “Preferred Equity Interests” shall mean any class or series of Equity Interest
the terms of which provide that dividends in respect thereof are payable at a specified rate or that has preference in the payment of dividends or in the liquidation of assets over any other class or series of Equity Interests of the issuer thereof.

 “Prime Rate” shall mean the rate of interest per annum determined from time to time by Credit Suisse as its prime
rate in effect at its principal office in New York City and notified to the Borrower. 
 “Probable Reserve Value”
shall mean, as of any date of determination, 50% of the present value of future cash flows from probable reserves on the Borrower’s and the Subsidiaries’ Oil and Gas Properties as set forth in the most recent Reserve Report delivered
pursuant to Section 5.04(d), utilizing (i) in the case of any Oil and Gas Properties located in the United States or any of its territories or possessions (including U.S. Federal waters in the Gulf of Mexico), the average of the Three-Year
Strip Price for crude oil (WTI Cushing) and natural gas (Henry Hub), quoted on the New York Mercantile Exchange (or its successor), (ii) in the case of any Oil and Gas Properties located in the North Sea, the average of the Three-Year Strip
Price for crude oil (North Sea Brent) and natural gas (UK National Balancing Point), in each case quoted on the International Petroleum Exchange (or its successor) and (iii) in the case of any Oil and Gas Properties located in any other
jurisdiction, the average of the Three-Year Strip Price for crude oil and natural gas, in each case quoted on any commodities exchange or other price quotation source generally recognized in the oil and gas industry in such jurisdiction and
reasonably acceptable to the Administrative Agent, in the case of each of clauses (i), (ii) and (iii), as of the date as of which the information set forth in such Reserve Report is provided (as adjusted for basis differentials) and utilizing a
10% discount rate. For purposes of calculating the Probable Reserve Value, any future cash flow calculations set forth in any Reserve Report and made in any currency other than dollars shall be converted into dollars based on the Exchange Rate on
the date as of which the information set forth in such Reserve Report is provided. 
 “Pro Forma Basis” shall mean,
with respect to compliance with any test or covenant hereunder, compliance with such covenant or test after giving effect to (a) any Permitted Business Investment in discrete Oil and Gas Properties or (b) any Asset Sale of a Subsidiary,
operating entity or discrete Oil and Gas Properties, in the case of each of clauses (a) and (b) for which historical financial statements for the relevant period are available (including pro forma adjustments arising out of events which
are directly attributable to the Permitted Business Investment or Asset Sale, are factually supportable and are expected to have a continuing impact, in each case as determined on a basis consistent with Article 11 of Regulation S-X of the
Securities Act of 1933, as amended, as interpreted by the Staff of the Securities and Exchange Commission, and as certified by a Financial Officer of the Borrower) using, for purposes of determining such compliance, the historical financial
statements of all entities or assets so acquired or sold and the consolidated financial statements of the Borrower and its Subsidiaries which shall be reformulated as if such Permitted Business Investment or Asset Sale, and all such other Permitted
Business Investments or Asset Sales that have been consummated during the period, and any Indebtedness or other liabilities incurred in connection with any such Permitted Business Investments had been consummated and incurred at the beginning of
such period. 
  

 20 

 “Pro Forma Financial Covenant Compliance” shall mean, with respect to the
incurrence of any Indebtedness pursuant to Section 6.01(i), that the Borrower shall be in pro forma compliance with each of the covenants set forth in Sections 6.12, 6.13, 6.14 and 6.15 (calculated as if such Indebtedness had been incurred at
the beginning of the relevant four consecutive fiscal quarter period and, if such Indebtedness has a floating rate, calculated based on an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the
rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination). 
 “Proved
Developed Reserves” shall mean oil and gas reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. 
 “Proved Reserves” shall mean the estimated quantities of crude oil, condensate, natural gas and natural gas liquids that
geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions (i.e., prices and costs as of the date the estimate is made).

 “PV-10 Value” shall mean, as of any date of determination, the present value of future cash flows from Proved
Reserves on the Borrower’s and the Subsidiaries’ Oil and Gas Properties as set forth in the most recent Reserve Report delivered pursuant to Section 5.04(d), utilizing (i) in the case of any Oil and Gas Properties located in the
United States or any of its territories or possessions (including U.S. Federal waters in the Gulf of Mexico), the average of the Three-Year Strip Price for crude oil (WTI Cushing) and natural gas (Henry Hub), quoted on the New York Mercantile
Exchange (or its successor), (ii) in the case of any Oil and Gas Properties located in the North Sea, the average of the Three-Year Strip Price for crude oil (North Sea Brent) and natural gas (UK National Balancing Point), in each case quoted
on the International Petroleum Exchange (or its successor) and (iii) in the case of any Oil and Gas Properties located in any other jurisdiction, the average of the Three-Year Strip Price for crude oil and natural gas, in each case quoted on
any commodities exchange or other price quotation source generally recognized in the oil and gas industry in such jurisdiction and reasonably acceptable to the Administrative Agent, in the case of each of clauses (i), (ii) and (iii), as of the
date as of which the information set forth in such Reserve Report is provided (as adjusted for basis differentials) and utilizing a 10% discount rate. PV-10 Value shall be adjusted to give effect to the Commodity Hedging Agreements of the Borrower
and the Subsidiaries then in effect. For purposes of calculating PV-10 Value, any future cash flow calculations set forth in any Reserve Report and made in any currency other than dollars shall be converted into dollars based on the Exchange Rate on
the date as of which the information set forth in such Reserve Report is provided. 
 “Register” shall have the
meaning assigned to such term in Section 9.04(d). 
 “Regulation T” shall mean Regulation T of the Board as
from time to time in effect and all official rulings and interpretations thereunder or thereof. 
 “Regulation U”
shall mean Regulation U of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 
  

 21 

 “Regulation X” shall mean Regulation X of the Board as from time to
time in effect and all official rulings and interpretations thereunder or thereof. 
 “Related Fund” shall mean, with
respect to any Lender that is a fund that invests in bank loans, any other fund that invests in bank loans and is advised or managed by the same investment advisor as such Lender or by an Affiliate of such investment advisor. 
 “Related Parties” shall mean, with respect to any specified person, such person’s Affiliates and the respective directors,
officers, employees, agents and advisors of such person and such person’s Affiliates. 
 “Release” shall mean
any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into or through the environment or within or upon any building, structure, facility or fixture. 
 “Required Lenders” shall mean, at any time, Lenders having Loans and Commitments representing more than 50% of the sum of all
Loans outstanding and Commitments at such time. 
 “Reserve Coverage Ratio” shall mean, on any date of determination,
the ratio of (a) the sum of (i) PV-10 Value on such date and (ii) Probable Reserve Value on such date to (b) Total Net Debt on such date; provided that Total Net Debt for this purpose shall exclude any Permitted
Subordinated Indebtedness incurred pursuant to Section 6.01(i). 
 “Reserve Report” shall mean (a) each
annual reserve report prepared by an Independent Engineering Firm, in form and detail reasonably acceptable to the Administrative Agent and (b) each semi-annual reserve report prepared by an Independent Engineering Firm (prepared on a
“mechanical roll-forward” basis based on the most recent annual reserve report prepared by such firm), in each case with respect to the Oil and Gas Properties of the Borrower and the Subsidiaries as of (x) December 31 of the year
immediately preceding the year in which such report is delivered pursuant to Section 5.04(d), in the case of an annual reserve report, (y) June 30 of the year in which such report is delivered pursuant to Section 5.04(d), in the
case of a semi-annual reserve report or (z) March 31 or September 30 (as applicable) of such year, in the case of a quarterly reserve report. Each Reserve Report prepared by the Borrower shall be certified by the chief engineering
officer of the Borrower as being accurate in all material respects. 
 “Responsible Officer” of any person shall mean
any executive officer or Financial Officer of such person and any other officer or similar official thereof responsible for the administration of the obligations of such person in respect of this Agreement. 
 “Restricted Indebtedness” shall mean Indebtedness of the Borrower or any Subsidiary, the payment, prepayment, repurchase or
defeasance of which is restricted under Section 6.09(b). 
 “Restricted Payment” shall mean any dividend or
other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit,
on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Equity Interests in the Borrower or any Subsidiary or any option, warrant or other right to acquire any such Equity Interests in the Borrower or any
Subsidiary. 
  

 22 

 “S&P” shall mean Standard & Poor’s Ratings Service, or any
successor thereto. 
 “Secured Parties” shall have the meaning assigned to such term in the Guarantee and Collateral
Agreement. 
 “Security Documents” shall mean the Mortgages, the Guarantee and Collateral Agreement, the Foreign
Pledge Agreements, the Intercreditor Agreement and each of the security agreements, mortgages and other instruments and documents executed and delivered pursuant to any of the foregoing or pursuant to Section 5.09. 
 “Series A Preferred Stock” shall mean the 13 1/2% Series A Cumulative Perpetual Preferred Stock issued by the Borrower on August 3, 2005. 
 “Series B Preferred Stock” shall mean the 12 1/2% Series B Cumulative Perpetual Preferred Stock issued by the Borrower on March 20, 2006. 
 “SPC” shall have the meaning assigned to such term in Section 9.04(i). 
 “Statutory Reserves” shall mean a fraction (expressed as a decimal), the numerator of which is the number one and the denominator
of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board and any other banking authority, domestic or
foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation D of the Board). Eurodollar Loans
shall be deemed to constitute Eurocurrency Liabilities (as defined in Regulation D of the Board) and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to
time to any Lender under such Regulation D. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 
 “subsidiary” shall mean, with respect to any person (herein referred to as the “parent”), any
corporation, partnership, limited liability company, association or other business entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or more than
50% of the general partnership interests are, at the time any determination is being made, owned, Controlled or held, or (b) that is, at the time any determination is made, otherwise Controlled, by the parent or one or more subsidiaries of the
parent or by the parent and one or more subsidiaries of the parent. 
 “Subsidiary” shall mean any subsidiary of the
Borrower. 
 “Subsidiary Guarantor” shall mean each Subsidiary listed on Schedule 1.01(c), and each other
Subsidiary that is or becomes a party to the Guarantee and Collateral Agreement. 
  

 23 

 “Synthetic Lease” shall mean, as to any person, any lease (including leases that
may be terminated by the lessee at any time) of any property (whether real, personal or mixed) (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property
so leased for U.S. federal income tax purposes, other than any such lease under which such person is the lessor. 
 “Synthetic
Lease Obligations” shall mean, as to any person, an amount equal to the capitalized amount of the remaining lease payments under any Synthetic Lease that would appear on a balance sheet of such person in accordance with GAAP if such
obligations were accounted for as Capital Lease Obligations. 
 “Synthetic Purchase Agreement” shall mean any swap,
derivative or other agreement or combination of agreements pursuant to which the Borrower or any Subsidiary is or may become obligated to make (a) any payment in connection with a purchase by any third party from a person other than the
Borrower or any Subsidiary of any Equity Interest or Restricted Indebtedness or (b) any payment (other than on account of a permitted purchase by it of any Equity Interest or Restricted Indebtedness) the amount of which is determined by
reference to the price or value at any time of any Equity Interest or Restricted Indebtedness; provided that no phantom stock or similar plan providing for payments only to current or former directors, officers or employees of the Borrower or
the Subsidiaries (or to their heirs or estates) shall be deemed to be a Synthetic Purchase Agreement. 
 “Taxes”
shall mean any and all present or future taxes, levies, imposts, duties, deductions, charges, liabilities or withholdings imposed by any Governmental Authority. 
 “Term Loan Commitment” shall mean, with respect to each Lender, the commitment of such Lender to make Term Loans hereunder as set forth on Schedule 2.01, or in the Assignment and Acceptance
pursuant to which such Lender assumed its Term Loan Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to assignments by or to
such Lender pursuant to Section 9.04. Unless the context shall otherwise require, the term “Term Loan Commitments” shall include the Incremental Term Loan Commitments. 
 “Term Loans” shall mean the term loans made by the Lenders to the Borrower pursuant to Section 2.01. Unless the context
shall otherwise require, the term “Term Loans” shall include any Incremental Term Loans. 
 “Three-Year
Strip Price” shall mean, as of any date of determination, (a) for the 36-month period commencing with the month immediately following the month in which the date of determination occurs, the monthly futures contract prices for
crude oil and natural gas for the 36 succeeding months as quoted on the applicable commodities exchange or other price quotation source as contemplated in the definitions of “PV-10 Value” and “Probable Reserve Value” and
(b) for periods after such 36-month period, the average of such quoted prices for the period from and including the 25th month in such 36-month period through the 36th month in such period. 
 “Total Net Debt” shall mean, at any time, (a) the total Indebtedness of the Borrower and the Subsidiaries at such time
(excluding Indebtedness of the type described in clause (i) of the 
  

 24 

 definition of such term, except to the extent of any unreimbursed drawings thereunder), less (b) the amount of
unrestricted cash on hand at the Borrower and the Subsidiary Guarantors. The fact that the Collateral Agent holds a Lien against funds on deposit in accounts will not cause such funds to be considered restricted for purposes of this definition.

 “Transactions” shall mean, collectively, (a) the execution, delivery and performance by the Loan Parties of
this Agreement and the other Loan Documents to which they are a party and, in the case of the Borrower, the execution, delivery and performance of the Amendment Agreement to the First Lien Credit Agreement and the making of the Borrowings hereunder
and the borrowings thereunder, (b) the repurchase, redemption or other refinancing of the Existing Preferred Stock and (c) the payment of related fees and expenses. 
 “Type”, when used in respect of any Loan or Borrowing, shall refer to the Rate by reference to which interest on such Loan or on
the Loans comprising such Borrowing is determined. For purposes hereof, the term “Rate” shall include the Adjusted LIBO Rate and the Alternate Base Rate. 
 “UK Sector” shall mean the jurisdiction of the United Kingdom commonly referred to as the UK Sector—North Sea. 

“Underlying Debt Obligations” shall mean, with respect to any Loan Party at any given time, the aggregate amount (whether
matured or not) owing by such Loan Party at such time under the Loan Documents (other than the amount of such Loan Party’s Dutch Parallel Debt). 
 “USA Patriot Act” shall mean The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56
(signed into law October 26, 2001)), as amended from time to time. 
 “wholly owned Subsidiary” of any person
shall mean a subsidiary of such person of which securities (except for directors’ qualifying shares) or other ownership interests representing 100% of the Equity Interests are, at the time any determination is being made, owned, Controlled or
held by such person or one or more wholly owned Subsidiaries of such person or by such person and one or more wholly owned Subsidiaries of such person. 
 “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA. 
 SECTION 1.02. Terms Generally. The definitions in Section 1.01 shall apply equally
to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”; and the words “asset” and
“property” shall be construed as having the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. All references herein to Articles,
Sections, Exhibits and Schedules shall be deemed references to Articles and Sections of, and Exhibits and Schedules to, 
  

 25 

 this Agreement unless the context shall otherwise require. Except as otherwise expressly provided herein, (a) any
reference in this Agreement to any Loan Document shall mean such document as amended, restated, supplemented or otherwise modified from time to time and (b) all terms of an accounting or financial nature shall be construed in accordance with
GAAP, as in effect from time to time; provided, however, that if the Borrower notifies the Administrative Agent that the Borrower wishes to amend any covenant in Article VI or any related definition to eliminate the effect of any
change in GAAP occurring after the date of this Agreement on the operation of such covenant (or if the Administrative Agent notifies the Borrower that the Required Lenders wish to amend Article VI or any related definition for such purpose), then
the Borrower’s compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner
satisfactory to the Borrower and the Required Lenders. 
 SECTION 1.03. Pro Forma Calculations. With respect to any period during
which any Permitted Business Investment of the type described in clause (a) of the definition of the term “Pro Forma Basis” or Asset Sale of the type described in clause (b) of such definition occurs as permitted pursuant to the
terms hereof, the Leverage Ratio, the Interest Coverage Ratio, the Current Ratio and each of the Asset Coverage Ratios shall be calculated with respect to such period and such Permitted Business Investment or Asset Sale on a Pro Forma Basis.

 ARTICLE II 
 The Credits

 SECTION 2.01. Commitments. (a) Subject to the terms and conditions and relying upon the representations and warranties set
forth herein and in the other Loan Documents, each Lender agrees, severally and not jointly, to make a Term Loan to the Borrower on the Closing Date in a principal amount not to exceed its Term Loan Commitment. Amounts paid or prepaid in respect of
Term Loans may not be reborrowed. 
 (b) Each Lender having an Incremental Term Loan Commitment, severally and not jointly, hereby agrees,
subject to the terms and conditions and relying upon the representations and warranties set forth herein and in the applicable Incremental Term Loan Assumption Agreement, to make Incremental Term Loans to the Borrower, in an aggregate principal
amount not to exceed its Incremental Term Loan Commitment. Amounts paid or prepaid in respect of Incremental Term Loans may not be reborrowed. 
 SECTION 2.02. Loans. (a) Each Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in accordance with their applicable Commitments; provided, however, that the failure of any
Lender to make any Loan shall not in itself relieve any other Lender of its obligation to lend hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to make any Loan required to be made by
such other Lender). The Loans comprising any Borrowing shall be in an aggregate principal amount that is (i) an integral multiple of $1,000,000 and not less than $5,000,000 (except, with respect to any Incremental Term Loan Borrowing, to the
extent otherwise provided in the related Incremental Term Loan Assumption Agreement) or (ii) equal to the remaining available balance of the applicable Commitments. 
  

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 (b) Subject to Sections 2.08 and 2.15, each Borrowing shall be comprised entirely of ABR Loans or
Eurodollar Loans as the Borrower may request pursuant to Section 2.03. Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any
exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. Borrowings of more than one Type may be outstanding at the same time; provided, however, that
the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than six Eurodollar Borrowings outstanding hereunder at any time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless
of whether they commence on the same date, shall be considered separate Borrowings. 
 (c) Each Lender shall make each Loan to be made by it
hereunder on the proposed date thereof by wire transfer of immediately available funds to such account in New York City as the Administrative Agent may designate not later than 1:00 p.m., New York City time, on such date, and the Administrative
Agent shall promptly credit the amounts so received to an account designated by the Borrower in the applicable Borrowing Request or, if a Borrowing shall not occur on such date because any condition precedent herein specified shall not have been
met, return the amounts so received to the respective Lenders. 
 (d) Unless the Administrative Agent shall have received notice from a
Lender prior to the date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the
Administrative Agent on the date of such Borrowing in accordance with paragraph (c) above and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If the
Administrative Agent shall have so made funds available then, to the extent that such Lender shall not have made such portion available to the Administrative Agent, such Lender and the Borrower severally agree to repay to the Administrative Agent
forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent at (i) in the case of the
Borrower, the interest rate applicable at the time to the Loans comprising such Borrowing and (ii) in the case of such Lender, (A) for the first two days following the date such amount is made available to the Borrower, a rate determined
by the Administrative Agent to represent its cost of overnight or short-term funds (which determination shall be conclusive absent manifest error) and (B) thereafter, at the Alternate Base Rate. If such Lender shall repay to the Administrative
Agent such corresponding amount, such amount shall constitute such Lender’s Loan as part of such Borrowing for purposes of this Agreement. 
 SECTION 2.03. Borrowing Procedure. In order to request a Borrowing, the Borrower shall hand deliver or fax (or telephone notice promptly confirmed by written or fax notice) to the Administrative Agent a duly completed Borrowing
Request not later than (a) in the case of the Borrowing to be made on the Closing Date, 12:00 (noon), New York City time, one Business Day before the proposed Borrowing and (b) in the case of any Incremental Term Loan Borrowing,
(i) in the case of Eurodollar Borrowing, not later than 11:00 a.m., New York City 
  

 27 

 time, three Business Days before a proposed Borrowing, and (ii) in the case of an ABR Borrowing, not later than
12:00 (noon), New York City time, one Business Day before the proposed Borrowing. Such Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) whether such
Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing; (ii) the date of such Borrowing (which shall be a Business Day); (iii) the number and location of the account to which funds are to be disbursed; (iv) the amount of such
Borrowing; and (v) if such Borrowing is to be a Eurodollar Borrowing, the Interest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing
shall comply with the requirements set forth in Section 2.02. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any
Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly advise the applicable Lenders of any notice given
pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Borrowing. 
 SECTION 2.04.
Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the principal amount of each Loan of such Lender as provided in Section 2.11.

 (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to
such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. 
 (c) The Administrative Agent shall maintain accounts in which it will record (i) the amount of each Loan made hereunder, the Type thereof and, if
applicable, the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the
Administrative Agent hereunder from the Borrower or any Subsidiary Guarantor and each Lender’s share thereof. 
 (d) The entries made in
the accounts maintained pursuant to paragraphs (b) and (c) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Lender or the
Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. 
 (e) Any Lender may request that Loans made by it hereunder be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to
such Lender a promissory note payable to such Lender and its registered assigns and in a form and substance reasonably acceptable to the Administrative Agent and the Borrower. Notwithstanding any other provision of this Agreement, in the event any
Lender shall request and receive such a promissory note, the interests represented by such note shall at all times (including after any assignment of all or part of such interests pursuant to Section 9.04) be represented by one or more
promissory notes payable to the payee named therein or its registered assigns. 
  

 28 

 SECTION 2.05. Fees. The Borrower agrees to pay to the Administrative Agent, for its own account,
the non-refundable administration fees set forth in the Fee Letter at the times and in the amounts specified therein. 
 SECTION 2.06.
Interest on Loans. (a) Subject to the provisions of Section 2.07, the Loans comprising each ABR Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case
may be, when the Alternate Base Rate is determined by reference to the Prime Rate and over a year of 360 days at all other times and calculated from and including the date of such Borrowing to but excluding the date of repayment thereof) at a rate
per annum equal to the Alternate Base Rate plus the Applicable Percentage. 
 (b) Subject to the provisions of Section 2.07, the Loans
comprising each Eurodollar Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing
plus the Applicable Percentage. 
 (c) Interest on each Loan shall be payable on the Interest Payment Dates applicable to such Loan except as
otherwise provided in this Agreement. The applicable Alternate Base Rate or Adjusted LIBO Rate for each Interest Period or day within an Interest Period, as the case may be, shall be determined by the Administrative Agent, and such determination
shall be conclusive absent manifest error. 
 SECTION 2.07. Default Interest. If the Borrower shall default in the payment of any
principal of or interest on any Loan or any other amount due hereunder, by acceleration or otherwise, or under any other Loan Document, then, until such defaulted amount shall have been paid in full, to the extent permitted by law, all amounts
outstanding under this Agreement and the other Loan Documents shall bear interest (after as well as before judgment), payable on demand, (a) in the case of principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06
plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a
year of 360 days at all other times) equal to the rate that would be applicable to an ABR Loan plus 2.00% per annum. 
 SECTION 2.08.
Alternate Rate of Interest. In the event, and on each occasion, that on the day two Business Days prior to the commencement of any Interest Period for a Eurodollar Borrowing the Administrative Agent shall have determined that dollar deposits
in the principal amounts of the Loans comprising such Borrowing are not generally available in the London interbank market, or that the rates at which such dollar deposits are being offered will not adequately and fairly reflect the cost to any
Lender of making or maintaining its Eurodollar Loan during such Interest Period, or that reasonable means do not exist for ascertaining the Adjusted LIBO Rate, the Administrative Agent shall, as soon as practicable thereafter, give written or fax
notice of such determination to the Borrower and the Lenders. In the event of any such determination, until the Administrative Agent shall have advised the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist,
any request by the Borrower for a Eurodollar Borrowing pursuant to Section 2.03 or 2.10 shall be deemed to be a request for an ABR Borrowing. Each determination by the Administrative Agent under this Section 2.08 shall be conclusive absent
manifest error. 
  

 29 

 SECTION 2.09. Termination of Commitments. The Term Loan Commitments (other than any Incremental
Term Loan Commitments, which shall terminate as provided in the related Incremental Term Loan Assumption Agreement) shall automatically terminate upon the earlier to occur of (a) the making of the Term Loans on the Closing Date and
(b) 5:00 p.m., New York City time, on December 1, 2006. 
 SECTION 2.10. Conversion and Continuation of Borrowings. The
Borrower shall have the right at any time upon prior irrevocable notice to the Administrative Agent not later than 12:00 (noon), New York City time, (a) one Business Day prior thereto, to convert any Eurodollar Borrowing into an ABR
Borrowing, (b) three Business Days prior thereto, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) three Business Days
prior thereto, to convert the Interest Period with respect to any Eurodollar Borrowing to another permissible Interest Period, subject in each case to the following: 
 (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the
Loans comprising the converted or continued Borrowing; 
 (ii) if less than all the outstanding principal amount of any
Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type; 
 (iii) each conversion shall be effected by each Lender and the Administrative Agent by recording for the account of such Lender the new
Loan of such Lender resulting from such conversion and reducing the Loan (or portion thereof) of such Lender being converted by an equivalent principal amount; accrued interest on any Eurodollar Loan (or portion thereof) being converted shall be
paid by the Borrower at the time of conversion; 
 (iv) if any Eurodollar Borrowing is converted at a time other than the end
of the Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.16; 
 (v) any portion of a Borrowing maturing or required to be repaid in less than one month may not be converted into or continued as a Eurodollar Borrowing; 
 (vi) any portion of a Eurodollar Borrowing that cannot be converted into or continued as a Eurodollar Borrowing by reason of the
immediately preceding clause shall be automatically converted at the end of the Interest Period in effect for such Borrowing into an ABR Borrowing; and 
 (vii) upon notice to the Borrower from the Administrative Agent given at the request of the Required Lenders, after the occurrence and during the continuance of a Default or Event of Default, no outstanding Loan may
be converted into, or continued as, a Eurodollar Loan. 
  

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 Each notice pursuant to this Section 2.10 shall be irrevocable and shall refer to this Agreement and
specify (i) the identity and amount of the Borrowing that the Borrower requests be converted or continued, (ii) whether such Borrowing is to be converted to or continued as a Eurodollar Borrowing or an ABR Borrowing, (iii) if such
notice requests a conversion, the date of such conversion (which shall be a Business Day) and (iv) if such Borrowing is to be converted to or continued as a Eurodollar Borrowing, the Interest Period with respect thereto. If no Interest Period
is specified in any such notice with respect to any conversion to or continuation as a Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall advise the
Lenders of any notice given pursuant to this Section 2.10 and of each Lender’s portion of any converted or continued Borrowing. If the Borrower shall not have given notice in accordance with this Section 2.10 to continue any Borrowing
into a subsequent Interest Period (and shall not otherwise have given notice in accordance with this Section 2.10 to convert such Borrowing), such Borrowing shall, at the end of the Interest Period applicable thereto (unless repaid pursuant to
the terms hereof), automatically be continued into an ABR Borrowing. 
 SECTION 2.11. Repayment of Borrowings. (a) To the extent
not previously paid, all Term Loans and Other Term Loans shall be due and payable on the Maturity Date and the Incremental Term Loan Maturity Date, respectively, together with accrued and unpaid interest on the principal amount to be paid to but
excluding the date of payment. 
 (b) All repayments pursuant to this Section 2.11 shall be subject to Section 2.16, but shall
otherwise be without premium or penalty. 
 SECTION 2.12. Optional Prepayment. (a) The Borrower shall have the right at any time
and from time to time to prepay any Borrowing, in whole or in part, upon written or fax notice (or telephone notice promptly confirmed by written or fax notice) at least one Business Day prior to the date of prepayment to the Administrative Agent
before 12:00 (noon), New York City time; provided, however, that each partial prepayment shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000. 
 (b) Optional prepayments of Loans at any time during the applicable periods set forth in this Section 2.12(b) shall be accompanied by a payment of a
prepayment fee in an amount (expressed as a percentage of the principal amount of the Loans to be repaid) equal to the applicable amount set forth in the table below: 
  

				
	 Period
	  	Prepayment Fee	 
	 From the Closing Date to May 22, 2007
	  	2.00	%
	 From May 23, 2007 to November 22, 2007
	  	1.50	%
	 From November 23, 2007 to May 22, 2008
	  	1.00	%
	 From May 23, 2008 to November 22, 2008
	  	0.50	%
	 Thereafter
	  	0.00	%

  

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 (c) Each notice of prepayment shall specify the prepayment date and the principal amount of each
Borrowing (or portion thereof) to be prepaid, shall be irrevocable and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein. All prepayments under this Section 2.12 shall be subject to
Section 2.16 but otherwise without premium or penalty, except as provided in Section 2.12(b). All prepayments under this Section 2.12 shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but
excluding the date of payment. 
 SECTION 2.13. Mandatory Prepayments. (a) Not later than the third Business Day following the
receipt of Net Cash Proceeds in respect of any Asset Sale, the Borrower shall apply 100% of the Net Cash Proceeds received with respect thereto to prepay outstanding Loans in accordance with Section 2.13(e). 
 (b) In the event and on each occasion that an Equity Issuance occurs, the Borrower shall, substantially simultaneously with (and in any event not later
than the third Business Day next following) the occurrence of such Equity Issuance, apply 50% of the Net Cash Proceeds therefrom to prepay outstanding Loans in accordance with Section 2.13(e); provided, however, that if at the
time of such Equity Issuance the Leverage Ratio (after giving effect to such Equity Issuance and the proposed use of the proceeds thereof) would be less than 2.5 to 1.0, then the amount required to be so applied shall be reduced to 25% of such Net
Cash Proceeds. 
 (c) No later than the earlier of (i) 90 days after the end of each fiscal year of the Borrower, commencing with the
fiscal year ending on December 31, 2006, and (ii) the date on which the financial statements with respect to such period are delivered pursuant to Section 5.04(a), the Borrower shall prepay outstanding Loans in accordance with
Section 2.13(e) in an aggregate principal amount equal to 75% of Excess Cash Flow in excess of $5,000,000 for the fiscal year then ended; provided, however, that in the event the Leverage Ratio at the end of such fiscal year was less
than 2.5 to 1.0, then such amount shall be reduced to 50% of such Excess Cash Flow in excess of $5,000,000. 
 (d) In the event that any Loan
Party or any subsidiary of a Loan Party shall receive Net Cash Proceeds from the issuance of Indebtedness for money borrowed or consisting of Disqualified Capital Stock of any Loan Party or any subsidiary of a Loan Party (other than Indebtedness for
money borrowed or consisting of Disqualified Capital Stock permitted pursuant to Section 6.01), the Borrower shall, substantially simultaneously with (and in any event not later than the third Business Day next following) the receipt of such
Net Cash Proceeds by such Loan Party or such subsidiary, apply an amount equal to 100% of such Net Cash Proceeds to prepay outstanding Term Loans in accordance with Section 2.13(e). 
 (e) Mandatory prepayments of outstanding Loans under this Agreement shall be allocated pro rata between the Term Loans and the Other Term Loans.

 (f) The Borrower shall deliver to the Administrative Agent, at the time of each prepayment required under this Section 2.13,
(i) a certificate signed by a Financial Officer of the Borrower setting forth in reasonable detail the calculation of the amount of such prepayment and (ii) to the extent practicable, at least three days prior written notice of such
prepayment. Each notice of prepayment shall specify the prepayment date, the Type of each Loan being prepaid 
  

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 and the principal amount of each Loan (or portion thereof) to be prepaid. All prepayments of Borrowings under this
Section 2.13 shall be subject to Section 2.16, but shall otherwise be without premium or penalty. 
 (g) Notwithstanding the
foregoing, (i) no mandatory prepayments of outstanding Loans that would otherwise be required under this Section 2.13 shall be required to be made at any time when any loans remain outstanding under the First Lien Credit Agreement or any
Permitted Refinancing Indebtedness incurred to Refinance such Indebtedness remains outstanding, except with respect to the portion (if any) of the proceeds of the event giving rise to such mandatory prepayment as shall have been rejected by the
lenders under the First Lien Credit Agreement, in accordance with and as required by Section 2.13(g) of the First Lien Credit Agreement (or in accordance with the analogous provisions in any agreement governing any Permitted Refinancing
Indebtedness) and (ii) any Lender may elect, by written notice to the Administrative Agent at least two Business Days prior to the applicable prepayment date (or such shorter period as may be acceptable to the Administrative Agent), to decline
all (but not less than all) of any mandatory prepayment of its Loans pursuant to this Section 2.13 (such declined amounts, the “Declined Proceeds”). Any Declined Proceeds shall be offered to the Lenders not so declining
such prepayment (with such Lenders having the right to decline any prepayment with Declined Proceeds in the same manner provided for in the previous sentence). To the extent such Lenders elect to decline their pro rata shares of such Declined
Proceeds, any Declined Proceeds remaining thereafter may be retained by the Borrower. If at the time of any prepayment pursuant to this Section 2.13 there shall be outstanding Borrowings of different Types or Eurodollar Borrowings with
different Interest Periods, and if some but not all Lenders shall have accepted such mandatory prepayment, then the aggregate amount of such mandatory prepayment shall be allocated ratably to each outstanding Borrowing of the accepting Lenders.

 SECTION 2.14. Reserve Requirements; Change in Circumstances. (a) Notwithstanding any other provision of this Agreement, if any
Change in Law shall 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 which is reflected
in the Adjusted LIBO Rate) or shall impose on such Lender or the London interbank market any other condition affecting this Agreement or Eurodollar Loans made by such Lender, 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 to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise), in each case, by an amount deemed by such Lender to be
material, then the Borrower will pay to such Lender upon demand such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered. 
 (b) If any Lender shall have determined that any Change in Law regarding capital adequacy has or would have the effect of reducing the rate of return on
such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender pursuant hereto to a level below that which such Lender or such Lender’s holding
company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy) by an amount deemed by such Lender to be material,
then from time to time the Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered. 
  

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 (c) A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or
its holding company, as applicable, as specified in paragraph (a) or (b) above shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such
certificate delivered by it within 10 days after its receipt of the same. 
 (d) Failure or delay on the part of any Lender to demand
compensation for any increased costs or reduction in amounts received or receivable or reduction in return on capital shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not
be under any obligation to compensate any Lender under paragraph (a) or (b) above with respect to increased costs or reductions with respect to any period prior to the date that is 120 days prior to such request if such Lender knew or
could reasonably have been expected to know of the circumstances giving rise to such increased costs or reductions and of the fact that such circumstances would result in a claim for increased compensation by reason of such increased costs or
reductions; provided further that the foregoing limitation shall not apply to any increased costs or reductions arising out of the retroactive application of any Change in Law within such 120-day period. The protection of this Section shall
be available to each Lender regardless of any possible contention of the invalidity or inapplicability of the Change in Law that shall have occurred or been imposed. 
 SECTION 2.15. Change in Legality. (a) Notwithstanding any other provision of this Agreement, if any Change in Law shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give
effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written notice to the Borrower and to the Administrative Agent: 
 (i) such Lender may declare that Eurodollar Loans will not thereafter (for the duration of such unlawfulness) be made by such Lender
hereunder (or be continued for additional Interest Periods and ABR Loans will not thereafter (for such duration) be converted into Eurodollar Loans), whereupon any request for a Eurodollar Borrowing (or to convert an ABR Borrowing to a Eurodollar
Borrowing or to continue a Eurodollar Borrowing for an additional Interest Period) shall, as to such Lender only, be deemed a request for an ABR Loan (or a request to continue an ABR Loan as such for an additional Interest Period or to convert a
Eurodollar Loan into an ABR Loan, as the case may be), unless such declaration shall be subsequently withdrawn; and 
 (ii)
such Lender may require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically converted to ABR Loans as of the effective date of such notice as provided in
paragraph (b) below. 
 In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and prepayments of principal
that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or
resulting from the conversion of, such Eurodollar Loans. 
  

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 (b) For purposes of this Section 2.15, a notice to the Borrower by any Lender shall be effective as
to each Eurodollar Loan made by such Lender, if lawful, on the last day of the Interest Period then applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt by the Borrower. 
 SECTION 2.16. Indemnity. The Borrower shall indemnify each Lender against any loss or expense that such Lender sustains or incurs as a consequence
of (a) any event, other than a default by such Lender in the performance of its obligations hereunder, which results in (i) such Lender receiving or being deemed to receive any amount on account of the principal of any Eurodollar Loan
prior to the end of the Interest Period in effect therefor, (ii) the conversion of any Eurodollar Loan to an ABR Loan, or the conversion of the Interest Period with respect to any Eurodollar Loan, in each case other than on the last day of the
Interest Period in effect therefor, or (iii) any Eurodollar Loan to be made by such Lender (including any Eurodollar Loan to be made pursuant to a conversion or continuation under Section 2.10) not being made after notice of such Loan
shall have been given by the Borrower hereunder (any of the events referred to in this clause (a) being called a “Breakage Event”) or (b) any default in the making of any payment or prepayment required to be made
hereunder. In the case of any Breakage Event, such loss shall include an amount equal to the excess, as reasonably determined by such Lender, of (i) its cost of obtaining funds for the Eurodollar Loan that is the subject of such Breakage Event
for the period from the date of such Breakage Event to the last day of the Interest Period in effect (or that would have been in effect) for such Loan over (ii) the amount of interest likely to be realized by such Lender in redeploying the
funds released or not utilized by reason of such Breakage Event for such period. A certificate of any Lender setting forth any amount or amounts which such Lender is entitled to receive pursuant to this Section 2.16 shall be delivered to the
Borrower and shall be conclusive absent manifest error. 
 SECTION 2.17. Pro Rata Treatment. Except as required under
Section 2.15 and in respect of any election made pursuant to Section 2.13(g), each Borrowing, each payment or prepayment of principal of any Borrowing, each payment of interest on the Loans, each payment of any prepayment fee, each
reduction of the Commitments and each conversion of any Borrowing to or continuation of any Borrowing as a Borrowing of any Type shall be allocated pro rata among the Lenders in accordance with their respective Commitments (or, if such Commitments
shall have expired or been terminated, in accordance with the respective principal amounts of their outstanding Loans). Each Lender agrees that in computing such Lender’s portion of any Borrowing to be made hereunder, the Administrative Agent
may, in its discretion, round each Lender’s percentage of such Borrowing to the next higher or lower whole dollar amount. 
 SECTION
2.18. Sharing of Setoffs. Each Lender agrees that if it shall, through the exercise of a right of banker’s lien, setoff or counterclaim against the Borrower or any other Loan Party, or pursuant to a secured claim under Section 506
of Title 11 of the United States Code or other security or interest arising from, or in lieu of, such secured claim, received by such Lender under any applicable bankruptcy, insolvency or other similar law or otherwise, or by any other means, obtain
payment (voluntary or involuntary) in respect of any Loan or Loans as a 
  

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 result of which the unpaid principal portion of its Loans shall be proportionately less than the unpaid principal portion
of the Loans of any other Lender, it shall be deemed simultaneously to have purchased from such other Lender at face value, and shall promptly pay to such other Lender the purchase price for, a participation in the Loans of such other Lender, so
that the aggregate unpaid principal amount of the Loans and participations in Loans held by each Lender shall be in the same proportion to the aggregate unpaid principal amount of all Loans then outstanding as the principal amount of its Loans prior
to such exercise of banker’s lien, setoff or counterclaim or other event was to the principal amount of all Loans outstanding prior to such exercise of banker’s lien, setoff or counterclaim or other event; provided, however,
that if any such purchase or purchases or adjustments shall be made pursuant to this Section 2.18 and the payment giving rise thereto shall thereafter be recovered, such purchase or purchases or adjustments shall be rescinded to the extent of
such recovery and the purchase price or prices or adjustment restored without interest. The Borrower expressly consents to the foregoing arrangements and agrees that any Lender holding a participation in a Loan deemed to have been so purchased may
exercise any and all rights of banker’s lien, setoff or counterclaim with respect to any and all moneys owing by the Borrower to such Lender by reason thereof as fully as if such Lender had made a Loan directly to the Borrower in the amount of
such participation. 
 SECTION 2.19. Payments. (a) The Borrower shall make each payment (including principal of or interest on
any Borrowing or any fees or other amounts) hereunder and under any other Loan Document not later than 12:00 (noon), New York City time, on the date when due in immediately available dollars, without setoff, defense or counterclaim. Each such
payment shall be made to the Administrative Agent at its offices at Eleven Madison Avenue, New York, NY 10010. 
 (b) Except as otherwise
expressly provided herein, whenever any payment (including principal of or interest on any Borrowing or any fees or other amounts) hereunder or under any other Loan Document shall become due, or otherwise would occur, on a day that is not a Business
Day, such payment may be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of interest or fees, if applicable. 
 SECTION 2.20. Taxes. (a) Any and all payments by or on account of any obligation of the Borrower or any other Loan Party hereunder or under
any other Loan Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that if the Borrower or any other Loan Party shall be required to deduct any Indemnified Taxes or Other Taxes
from such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent or such Lender
(as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower or such Loan Party shall make such deductions and (iii) the Borrower or such Loan Party shall pay the full
amount deducted to the relevant Governmental Authority in accordance with applicable law. 
 (b) In addition, the Borrower shall pay any
Other Taxes to the relevant Governmental Authority in accordance with applicable law. 
  

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 (c) The Borrower shall indemnify the Administrative Agent and each Lender, within 10 days after written
demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by or on account of any obligation of the Borrower or any other Loan
Party hereunder or under any other Loan Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) 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 as to the amount of such payment or liability delivered to the Borrower by a
Lender, or by the Administrative Agent on its behalf or on behalf of a Lender, shall be conclusive absent manifest error. 
 (d) As soon as
practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower or any other Loan Party to a Governmental Authority, the Borrower 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) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which the Borrower is
located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable law, such properly
completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate. 
 SECTION 2.21. Assignment of Commitments or Loans Under Certain Circumstances; Duty to Mitigate. (a) In the event (i) any Lender delivers
a certificate requesting compensation pursuant to Section 2.14, (ii) any Lender delivers a notice described in Section 2.15, (iii) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority
on account of any Lender pursuant to Section 2.20 or (iv) any Lender refuses to consent to any amendment, waiver or other modification of any Loan Document requested by the Borrower that requires the consent of a greater percentage of the
Lenders than the Required Lenders and such amendment, waiver or other modification is consented to by the Required Lenders, the Borrower may, at its sole expense and effort (including with respect to the processing and recordation fee referred to in
Section 9.04(b)), upon notice to such Lender and the Administrative Agent, require such Lender to transfer and assign, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all of its interests,
rights and obligations under this Agreement to an assignee that shall assume such assigned obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (x) such assignment shall not conflict with
any law, rule or regulation or order of any court or other Governmental Authority having jurisdiction, (y) the Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld,
and (z) the Borrower or such assignee shall have paid to the affected Lender in immediately available funds an amount equal to the sum of the principal of and interest accrued to the date of such payment on the outstanding Loans of such Lender
plus all other amounts accrued for the account of such Lender hereunder (including any amounts under Section 2.14 and Section 2.16 and, if applicable, 
  

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 the prepayment fee pursuant to Section 2.12(b) (with such assignment being deemed to be an optional prepayment for
purposes of determining the applicability of Section 2.12(b))); provided further that, if prior to any such transfer and assignment the circumstances or event that resulted in such Lender’s claim for compensation under
Section 2.14 or notice under Section 2.15 or the amounts paid pursuant to Section 2.20, as the case may be, cease to cause such Lender to suffer increased costs or reductions in amounts received or receivable or reduction in return on
capital, or cease to have the consequences specified in Section 2.15, or cease to result in amounts being payable under Section 2.20, as the case may be (including as a result of any action taken by such Lender pursuant to paragraph
(b) below), or if such Lender shall waive its right to claim further compensation under Section 2.14 in respect of such circumstances or event or shall withdraw its notice under Section 2.15 or shall waive its right to further
payments under Section 2.20 in respect of such circumstances or event or shall consent to the proposed amendment, waiver, consent or other modification, as the case may be, then such Lender shall not thereafter be required to make any such
transfer and assignment hereunder. Each Lender hereby grants to the Administrative Agent an irrevocable power of attorney (which power is coupled with an interest) to execute and deliver, on behalf of such Lender as assignor, any Assignment and
Acceptance necessary to effectuate any assignment of such Lender’s interests hereunder in the circumstances contemplated by this Section 2.21(a). 
 (b) If (i) any Lender shall request compensation under Section 2.14, (ii) any Lender delivers a notice described in Section 2.15 or (iii) the Borrower is required to pay any additional amount
to any Lender or any Governmental Authority on account of any Lender pursuant to Section 2.20, then such Lender shall use reasonable efforts (which shall not require such Lender to incur an unreimbursed loss or unreimbursed cost or expense or
otherwise take any action inconsistent with its internal policies or legal or regulatory restrictions or suffer any disadvantage or burden deemed by it to be significant) (x) to file any certificate or document reasonably requested in writing
by the Borrower or (y) to assign its rights and delegate and transfer its obligations hereunder to another of its offices, branches or affiliates, if such filing or assignment would reduce its claims for compensation under Section 2.14 or
enable it to withdraw its notice pursuant to Section 2.15 or would reduce amounts payable pursuant to Section 2.20, as the case may be, in the future. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any
Lender in connection with any such filing or assignment, delegation and transfer. 
 SECTION 2.22. Incremental Term Loans.
(a) The Borrower may, by written notice to the Administrative Agent from time to time, request Incremental Term Loan Commitments in an amount not to exceed the Incremental Term Loan Amount from one or more Incremental Term Loan Lenders, which
may include any existing Lender; provided that each Incremental Term Loan Lender, if not already a Lender hereunder, shall be subject to the approval of the Administrative Agent (which approval shall not be unreasonably withheld or delayed).
Such notice shall set forth (i) the amount of the Incremental Term Loan Commitments being requested (which shall be in minimum increments of $1,000,000 and a minimum amount of $5,000,000 or such lesser amount equal to the remaining Incremental
Term Loan Amount), (ii) the date on which such Incremental Term Loan Commitments are requested to become effective (which shall not be less than 10 Business Days nor more than 60 days after the date of such notice), and
(iii) whether such Incremental Term Loan Commitments are commitments to make additional Term Loans or commitments to make term loans with terms different from the Term Loans (“Other Term Loans”). 
  

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 (b) The Borrower and each Incremental Term Loan Lender shall execute and deliver to the Administrative
Agent an Incremental Term Loan Assumption Agreement and such other documentation as the Administrative Agent shall reasonably specify to evidence the Incremental Term Loan Commitment of each Incremental Term Loan Lender. Each Incremental Term Loan
Assumption Agreement shall specify the terms of the Incremental Term Loans to be made thereunder; provided that, without the prior written consent of the Required Lenders, (i) the final maturity date of any Other Term Loans shall be no
earlier than the Term Loan Maturity Date, (ii) the average life to maturity of the Other Term Loans shall be no shorter than the average life to maturity of the Term Loans and (iii) if the initial yield on such Other Term Loans (as
determined by the Administrative Agent to be equal to the sum of (x) the margin above the Adjusted LIBO Rate on such Other Term Loans and (y) if such Other Term Loans are initially made at a discount or the Lenders making the same receive
a fee directly or indirectly from Holdings, the Borrower or any Subsidiary for doing so (the amount of such discount or fee, expressed as a percentage of the Other Term Loans, being referred to herein as “OID”), the amount of
such OID divided by the lesser of (A) the average life to maturity of such Other Term Loans and (B) four) exceeds by more than 50 basis points (the amount of such excess above 50 basis points being referred to herein as the
“Yield Differential”) the Applicable Percentage then in effect for Eurodollar Term Loans, then the Applicable Percentage then in effect for Term Loans shall automatically be increased by the Yield Differential, effective upon
the making of the Other Term Loans. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Incremental Term Loan Assumption Agreement. Each of the parties hereto hereby agrees that, upon the effectiveness of any
Incremental Term Loan Assumption Agreement, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Incremental Term Loan Commitment and the Incremental Term Loans evidenced
thereby. 
 (c) Notwithstanding the foregoing, no Incremental Term Loan Commitment shall become effective under this Section 2.22 unless
(i) on the date of such effectiveness, the conditions set forth in paragraphs (b) and (c) of Article IV shall be satisfied and the Administrative Agent shall have received a certificate to that effect dated such date and executed by a
Financial Officer of the Borrower, and (ii) except as otherwise specified in the applicable Incremental Term Loan Assumption Agreement, the Administrative Agent shall have received (with sufficient copies for each of the Incremental Term Loan
Lenders) legal opinions, board resolutions and other closing certificates reasonably requested by the Administrative Agent and consistent with those delivered on the Closing Date under Article IV. 
 (d) Each of the parties hereto hereby agrees that the Administrative Agent may, in consultation with the Borrower, take any and all action as may be
reasonably necessary to ensure that all Incremental Term Loans (other than Other Term Loans), when originally made, are included in each Borrowing of outstanding Term Loans on a pro rata basis. This may be accomplished by requiring each outstanding
Eurodollar Borrowing to be converted into an ABR Borrowing on the date of each Incremental Term Loan, or by allocating a portion of each Incremental Term Loan to each outstanding Eurodollar Term Borrowing on a pro rata basis. Any conversion of
Eurodollar Term Loans to ABR Term Loans required by the preceding sentence shall be subject to Section 2.16. If any Incremental Term Loan is to be allocated to an existing Interest Period for a Eurodollar Borrowing, then the interest rate
thereon for such Interest Period and the other economic consequences thereof shall be as set forth in the applicable Incremental Term Loan Assumption Agreement. 
  

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 ARTICLE III 
 Representations and Warranties 
 The Borrower represents and warrants to the Administrative Agent,
the Collateral Agent and each of the Lenders that: 
 SECTION 3.01. Organization; Powers. The Borrower and each of the Subsidiaries
(a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (b) has all requisite power and authority to own its property and assets and to carry on its business as now conducted and
as proposed to be conducted, (c) is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required, except where the failure so to qualify could not reasonably be expected to result in a
Material Adverse Effect, and (d) has the power and authority to execute, deliver and perform its obligations under each of the Loan Documents and each other agreement or instrument contemplated hereby or thereby to which it is or will be a
party and, in the case of the Borrower, to borrow hereunder. 
 SECTION 3.02. Authorization. The Transactions (a) have been duly
authorized by all requisite corporate and, if required, stockholder action and (b) will not (i) violate (A) any provision of law, statute, rule or regulation, or of the certificate or articles of incorporation or other constitutive
documents or by-laws of the Borrower or any Subsidiary, (B) any order of any Governmental Authority or (C) any provision of any indenture, agreement or other instrument to which the Borrower or any Subsidiary is a party or by which any of
them or any of their property is or may be bound, (ii) be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, or give rise to any right to accelerate or to require the
prepayment, repurchase or redemption of any obligation under any such indenture, agreement or other instrument or (iii) result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter
acquired by the Borrower or any Subsidiary (other than any Lien created hereunder or under the Security Documents). 
 SECTION 3.03.
Enforceability. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document when executed and delivered by each Loan Party party thereto will constitute, a legal, valid and binding
obligation of such Loan Party enforceable against such Loan Party in accordance with its terms. 
 SECTION 3.04. Governmental
Approvals. No action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or will be required in connection with the Transactions, except for (a) the filing of Uniform Commercial Code
financing statements and filings with the United States Patent and Trademark Office and the United States Copyright Office, (b) the recordation of the Mortgages, (c) such as have been made or obtained and are in full force and effect and
(d) filings required by the Securities Exchange Act of 1934, as amended. 
  

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 SECTION 3.05. Financial Statements. The Borrower has heretofore furnished to the Lenders its
consolidated balance sheets and related statements of income, shareholders’ equity and cash flows (i) as of and for the fiscal year ended December 31, 2005, audited by and accompanied by the unqualified opinion of Deloitte &
Touche LLP, independent public accountants, and (ii) as of and for the fiscal quarter and the portion of the fiscal year ended September 30, 2006, certified by its chief financial officer. Such financial statements present fairly the
financial condition and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods. Such balance sheets and the notes thereto disclose all material liabilities, direct or contingent,
of the Borrower and its consolidated Subsidiaries as of the dates thereof. Such financial statements were prepared in accordance with GAAP applied on a consistent basis, subject, in the case of unaudited financial statements, to year end audit
adjustments and the absence of footnotes. 
 SECTION 3.06. No Material Adverse Change. No event, change or condition has occurred that
has had, or could reasonably be expected to have, a material adverse effect on the business, assets, operations or condition (financial or otherwise) of the Borrower and the Subsidiaries, taken as a whole, since December 31, 2005. 

SECTION 3.07. Title to Properties; Possession Under Leases. (a) Other than the Oil and Gas Properties (which are the subject of paragraph
(b) below), the Borrower and each of the Subsidiaries has good and marketable title to, or valid leasehold interests in, all its material properties and assets, except for minor defects in title that do not interfere with its ability to conduct
its business as currently conducted or to utilize such properties and assets for their intended purposes. All such material properties and assets are free and clear of Liens, other than Liens expressly permitted by Section 6.02. 
 (b) The Borrower and each of the Subsidiaries has good and marketable title to all of the Oil and Gas Properties included in the most recent Reserve
Report delivered pursuant to 5.04(d) free from all Liens, claims and title imperfections, except for (i) such imperfections of title as do not in the aggregate detract from the value thereof to, or the use thereof in, the business of the
Borrower or any of its Subsidiaries in any material respect, (ii) Oil and Gas Properties disposed of since the date of the most recent Reserve Report as permitted by Section 6.05, and (iii) Liens expressly permitted by
Section 6.02. The quantum and nature of the interest of the Borrower and the Subsidiaries in and to the Oil and Gas Properties as set forth in each Reserve Report includes or will include the entire interest of the Borrower and the Subsidiaries
in such Oil and Gas Properties as of the date of such Reserve Report and are or will be complete and accurate in all material respects as of the date of such Reserve Report; and there are no “back-in” or “reversionary” interests
held by third parties which could reduce the interest of the Borrower and the Subsidiaries in such Oil and Gas Properties in any material respect, except as expressly set forth or given effect to in such Reserve Report. 
 (c) Each of the Borrower and each of the Subsidiaries has complied with all obligations under all licenses, leases and term mineral interests in the Oil
and Gas Properties and all such licenses, leases and term mineral interests are valid, subsisting and in full force and effect, and neither the Borrower nor any of the Subsidiaries has knowledge that a default exists under any of the terms or
provisions, express or implied, of any of such licenses, leases or interests or under any agreement to which the same are subject, except to the extent any inaccuracy in the 
  

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 foregoing could not reasonably be expected to result in a Material Adverse Effect. All of the Oil and Gas Contracts and
obligations of the Borrower and the Subsidiaries that relate to the Oil and Gas Properties are in full force and effect and constitute legal, valid and binding obligations of the Borrower and the Subsidiaries party thereto, except to the extent any
inaccuracy in the foregoing could not reasonably be expected to result in a Material Adverse Effect. None of the Borrower or any of the Subsidiaries or, to the knowledge of the Borrower and the Subsidiaries, any other party to any licenses, leases
or term mineral interests in the Oil and Gas Properties or any Oil and Gas Contract (i) is in breach of or default, or with the lapse of time or the giving of notice, or both, would be in breach or default, with respect to any obligations
thereunder, whether express or implied, except such that could not reasonably be expected to result in a Material Adverse Effect or (ii) has given or threatened to give notice of any default under or inquiry into any possible default under, or
action to alter, terminate, rescind or procure a judicial reformation of, any licenses or lease in the Oil and Gas Properties or any Oil and Gas Contract. Each of the Borrower and each of the Subsidiaries enjoys peaceful and undisturbed possession
under all such licenses, leases and term mineral interests. 
 (d) The Borrower has not received any notice of, nor has any knowledge of, any
pending or contemplated condemnation proceeding affecting the Mortgaged Properties or any sale or disposition thereof in lieu of condemnation. 
 (e) Neither the Borrower nor any of the Subsidiaries is obligated under any right of first refusal, option or other contractual right to sell, assign or otherwise dispose of any Mortgaged Property or any interest therein. 
 SECTION 3.08. Subsidiaries. Schedule 3.08 sets forth as of the Closing Date a list of all Subsidiaries and the percentage ownership interest
of the Borrower therein. The shares of capital stock or other ownership interests so indicated on Schedule 3.08 are fully paid and non-assessable and are owned by the Borrower, directly or indirectly, free and clear of all Liens (other than Liens
created under the Security Documents). 
 SECTION 3.09. Litigation; Compliance with Laws. (a) Except as set forth on
Schedule 3.09, there are not any actions, suits or proceedings at law or in equity or by or before any Governmental Authority now pending or, to the knowledge of the Borrower, threatened against or affecting the Borrower, any Subsidiary or any
business, property or rights of any such person (i) that involve any Loan Document or the Transactions or (ii) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could reasonably be
expected, individually or in the aggregate, to result in a Material Adverse Effect. 
 (b) Neither of the Borrower nor any of the
Subsidiaries or any of their respective material properties or assets is in violation of, nor will the continued operation of their material properties and assets as currently conducted violate, any law, rule or regulation applicable to the Oil and
Gas Business or any other applicable law, rule or regulation (including any zoning, building, Environmental Law, ordinance, code or approval or any building permits) or any restrictions of record or agreements affecting any Mortgaged Property, or is
in default with respect to any judgment, writ, injunction, decree or order of any Governmental Authority, where such violation or default could reasonably be expected to result in a Material Adverse Effect. 
  

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 SECTION 3.10. Agreements. (a) None of the Borrower or any of the Subsidiaries is a party to
any agreement or instrument or subject to any corporate restriction that has resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (b) None of the Borrower or any of the Subsidiaries is in default in any manner under any provision of any indenture or other agreement or instrument evidencing Indebtedness, or any other material agreement or
instrument to which it is a party or by which it or any of its properties or assets are or may be bound, where such default could reasonably be expected to result in a Material Adverse Effect. 
 SECTION 3.11. Federal Reserve Regulations. (a) None of the Borrower or any of the Subsidiaries is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock. 
 (b) No part of the proceeds
of any Loan will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including
Regulation T, U or X. 
 SECTION 3.12. Investment Company Act. None of the Borrower or any Subsidiary is an “investment
company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 
 SECTION 3.13. Use of Proceeds. The
Borrower will use the proceeds of the Loans only for the purposes specified in the preliminary statement to this Agreement and for the purposes specified in the applicable Incremental Term Loan Assumption Agreement. 
 SECTION 3.14. Tax Returns. Each of the Borrower and each of the Subsidiaries has filed or caused to be filed all Federal, state, local and foreign
tax returns or materials required to have been filed by it and has paid or caused to be paid all taxes due and payable by it and all assessments received by it, except taxes that are being contested in good faith by appropriate proceedings and for
which the Borrower or such Subsidiary, as applicable, shall have set aside on its books adequate reserves. 
 SECTION 3.15. No Material
Misstatements. None of (a) the Confidential Information Memorandum or (b) any other information, report, financial statement, exhibit or schedule furnished by or on behalf of the Borrower to the Administrative Agent or any Lender in
connection with the negotiation of any Loan Document or included therein or delivered pursuant thereto contained, contains or will contain any material misstatement of fact or omitted, omits or will omit to state any material fact necessary to make
the statements therein, in the light of the circumstances under which they were, are or will be made, not misleading; provided that to the extent any such information, report, financial statement, exhibit or schedule was based upon or
constitutes a forecast or projection, the Borrower represents only that it acted in good faith and utilized reasonable assumptions and due care in the preparation of such information, report, financial statement, exhibit or schedule. 
 SECTION 3.16. Employee Benefit Plans. Each of the Borrower and each of its ERISA Affiliates is in compliance in all material respects with the
applicable provisions of ERISA and 
  

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 the Code and the regulations and published interpretations thereunder. No ERISA Event has occurred or is reasonably
expected to occur that, when taken together with all other such ERISA Events, could reasonably be expected to result in material liability of the Borrower or any of its ERISA Affiliates. The present value of all benefit liabilities under each Plan
(based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the last annual valuation date applicable thereto, exceed the fair market value of the assets of such Plan by an amount that is
material, and the present value of all benefit liabilities of all underfunded Plans (based on the assumptions used to fund such plan) did not, as of the last annual valuation dates applicable thereto, exceed the fair market value of the assets of
all such underfunded Plans by an amount that is material. 
 SECTION 3.17. Environmental Matters. Except as set forth in
Schedule 3.17 and except with respect to any other matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, none of the Borrower or any of the Subsidiaries (i) has failed to
comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any
claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability on its part. 
 SECTION
3.18. Insurance. Schedule 3.18 sets forth a true, complete and correct description of all insurance maintained by the Borrower or by the Borrower for its Subsidiaries as of the Closing Date. As of such date, such insurance is in full
force and effect and all premiums have been duly paid. The Borrower and its Subsidiaries have insurance in such amounts and covering such risks and liabilities as are in accordance with normal industry practice. 
 SECTION 3.19. Security Documents. (a) The Guarantee and Collateral Agreement, upon execution and delivery thereof by the parties thereto,
will create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral (as defined in the Guarantee and Collateral Agreement) and the proceeds thereof and
(i) with the Pledged Collateral (as defined in the Guarantee and Collateral Agreement) having been previously delivered to the collateral agent under the First Lien Facilities (who will hold such Pledged Collateral as bailee for perfection for
the Collateral Agent), the Guarantee and Collateral Agreement constitutes, or in the case of Pledged Collateral to be delivered to the Collateral Agent in the future, the Guarantee and Collateral Agreement will constitute, a fully perfected first
priority Lien on, and security interest in, all right, title and interest of the Loan Parties in such Pledged Collateral, in each case prior and superior in right to any other person (such Lien to secure the obligations under the First Lien
Facilities on a first priority basis and the Obligations on a second priority basis), and (ii) when financing statements in appropriate form are filed in the offices specified on Schedule 3.19(a), the Lien created under the Guarantee and
Collateral Agreement will constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral (other than Intellectual Property, as defined in the Guarantee and Collateral Agreement),
in each case prior and superior in right to any other person, other than with respect to Liens expressly permitted by Section 6.02. 
  

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 (b) Upon the recordation of the Guarantee and Collateral Agreement (or a short form security agreement in
form and substance reasonably satisfactory to the Borrower and the Collateral Agent) with the United States Patent and Trademark Office and the United States Copyright Office, together with the financing statements in appropriate form filed in the
offices specified on Schedule 3.19(a), the Guarantee and Collateral Agreement shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in the Intellectual Property (as defined in the
Guarantee and Collateral Agreement) in which a security interest may be perfected by filing in the United States and its territories and possessions, in each case prior and superior in right to any other person (it being understood that subsequent
recordings in the United States Patent and Trademark Office and the United States Copyright Office may be necessary to perfect a Lien on registered trademarks, trademark applications, patents and copyrights acquired by the Loan Parties after the
date hereof, and that such Lien will secure the obligations under the First Lien Facilities on a first priority basis and the Obligations on a second priority basis). 
 (c) The Mortgages are effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties (subject to the Lien priorities set forth in the Intercreditor Agreement), a legal, valid and
enforceable Lien on all of the Loan Parties’ right, title and interest in and to the Mortgaged Property thereunder and the proceeds thereof, and when the Mortgages are filed in the offices specified on Schedule 3.19(c), the Mortgages shall
constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Mortgaged Property and the proceeds thereof, in each case prior and superior in right to any other person, other than with
respect to the rights of persons pursuant to Liens expressly permitted by Section 6.02. 
 (d) The Foreign Pledge Agreements, upon
execution and, where relevant as a legal concept, delivery thereof by the parties thereto, will create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Foreign
Pledged Collateral described therein and the proceeds thereof and with the Foreign Pledged Collateral having been previously delivered to the collateral agent under the First Lien Facilities (who will hold such Pledged Collateral as bailee for
perfection for the Collateral Agent) and when the Foreign Pledge Agreements are filed in the offices specified on Schedule 3.19(d), or other appropriate instruments are filed or other actions are taken, all as described on
Schedule 3.19(d), the Foreign Pledge Agreements shall provide for a fully perfected first priority Lien on, and security interest in, all right, title and interest of the Loan Parties in the Foreign Pledged Collateral, in each case prior and
superior in right to any other person (such Lien to secure the obligations under the First Lien Facilities on a first priority basis and the Obligations on a second priority basis), other than with respect to Liens expressly permitted by
Section 6.02. 
 SECTION 3.20. Location of Oil and Gas Properties, Real Property and Leased Premises. (a) Schedule 3.20(a)
lists completely and correctly as of the Closing Date all Oil and Gas Properties of the Borrower and the Subsidiaries and the location and a property description thereof. 
 (b) Schedule 3.20(b) lists completely and correctly as of the Closing Date all real property (other than Oil and Gas Properties) owned by the Borrower and the Subsidiaries and the addresses thereof. The Borrower
and the Subsidiaries own in fee all the real property set forth on Schedule 3.20(b). 
  

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 (c) Schedule 3.20(c) lists completely and correctly as of the Closing Date all real property (other
than Oil and Gas Properties) leased by the Borrower and the Subsidiaries and the addresses thereof. The Borrower and the Subsidiaries have valid leasehold interests in all the real property set forth on Schedule 3.20(c). 
 SECTION 3.21. Future Commitments. As of the Closing Date, on a net basis there are no material gas imbalances, take-or-pay or other prepayments
with respect to any Oil and Gas Property of the Borrower or any Subsidiary that would require the Borrower or any Subsidiary to deliver Hydrocarbons produced from Oil and Gas Properties at some future time without then or thereafter receiving full
payment therefor. 
 SECTION 3.22. Labor Matters. As of the Closing Date, there are no strikes, lockouts or slowdowns against the
Borrower or any Subsidiary pending or, to the knowledge of the Borrower, threatened. The hours worked by and payments made to employees of the Borrower and the Subsidiaries have not been in violation in any material respect of the Fair Labor
Standards Act or any other applicable Federal, state, local or foreign law dealing with such matters. All payments due from the Borrower or any Subsidiary, or for which any claim may be made against the Borrower or any Subsidiary, on account of
wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the books of the Borrower or such Subsidiary. The consummation of the Transactions will not give rise to any right of termination or
right of renegotiation on the part of any union under any collective bargaining agreement to which the Borrower or any Subsidiary is bound. 
 SECTION 3.23. Solvency. Immediately after the consummation of the Transactions to occur on the Closing Date and immediately following the making of each Loan and after giving effect to the application of the proceeds of each Loan,
(a) the fair value of the assets of the Loan Parties, taken as a whole, at a fair valuation, will exceed their debts and liabilities, subordinated, contingent or otherwise, taken as a whole; (b) the present fair saleable value of the
property of the Loan Parties will be greater than the amount that will be required to pay the probable liability of their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and
matured; (c) the Loan Parties taken as a whole will be able to pay their debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (d) the Loan Parties will not have
unreasonably small capital with which to conduct the business in which they are engaged as such businesses are now conducted and are proposed to be conducted following the Closing Date. 
 ARTICLE IV 
 Conditions of Lending 
 The obligations of the Lenders to make Loans hereunder are subject to the satisfaction of the following conditions: 
 (a) The Administrative Agent shall have received a notice of the Borrowing as required by Section 2.03. 
  

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 (b) The representations and warranties set forth in Article III hereof and in each other Loan Document
shall be true and correct in all material respects on and as of the date of such Borrowing with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date.

 (c) The Borrower and each other Loan Party shall be in compliance with all the terms and provisions set forth herein and in each other
Loan Document on its part to be observed or performed at or prior to the time of such Borrowing, and at the time of and immediately after such Borrowing, no Event of Default or Default shall have occurred and be continuing. 
 (d) The Administrative Agent shall have received, on behalf of itself and the Lenders, a favorable written opinion of (i) Jackson Walker L.L.P.,
counsel for the Borrower, substantially to the effect set forth in Exhibit I-1, and (ii) each local counsel listed on Schedule 4(d), substantially to the effect set forth in Exhibit I-2, in each case (A) dated the Closing Date,
(B) addressed to the Administrative Agent and the Lenders and (C) covering such other matters relating to the Loan Documents and the Transactions as the Administrative Agent shall reasonably request, and the Borrower hereby requests such
counsel to deliver such opinions. 
 (e) All legal matters incident to this Agreement, the Borrowings and extensions of credit hereunder and
the other Loan Documents shall be satisfactory to the Lenders and to the Administrative Agent. 
 (f) The Administrative Agent shall have
received (i) a certificate of the Secretary or Assistant Secretary of each Loan Party dated the Closing Date and certifying (A) that attached thereto is a true and complete copy of the certificate or articles of incorporation, including
all amendments thereto, of each Loan Party, certified as of a recent date by the Secretary of State (or other similar official) of the jurisdiction of its organization, (B) that the certificate or articles of incorporation of such Loan Party
have not been amended since the date of the last amendment thereto shown on the certificate of good standing furnished pursuant to clause (C) below, (C) that attached thereto is a true and complete copy of a certificate as to the good
standing of each Loan Party as of a recent date, from such Secretary of State (or other similar official), (D) that attached thereto is a true and complete copy of the by-laws of such Loan Party as in effect on the Closing Date and at all times
since a date prior to the date of the resolutions described in clause (E) below, (E) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors of such Loan Party authorizing the execution,
delivery and performance of this Agreement and the other Loan Documents to which such person is a party and, in the case of the Borrower, the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in
full force and effect and (F) as to the incumbency and specimen signature of each officer executing this Agreement and any other Loan Document or any other document delivered in connection herewith on behalf of such Loan Party; (ii) a
certificate of another officer as to the incumbency and specimen signature of the Secretary or Assistant Secretary executing the certificate pursuant to clause (i) above; and (iii) such other documents as the Lenders or the Administrative
Agent may reasonably request. 
  

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 (g) The Administrative Agent shall have received a certificate, dated the Closing Date and signed by a
Financial Officer of the Borrower, confirming compliance with the conditions precedent set forth in paragraphs (b) and (c) of this Article IV. 
 (h) The Lenders shall have received the financial statements and opinion referred to in Section 3.05, none of which shall demonstrate a material adverse change in the financial condition of the Borrower from (and
shall not otherwise be materially inconsistent with) the financial statements or forecasts previously provided to the Lenders. 
 (i) The
Administrative Agent shall have received (i) an annual Reserve Report (as described in the definition of such term) for the fiscal year ended December 31, 2005 and (ii) a semi-annual Reserve Report (as so described) for the fiscal
period ended June 30, 2006, setting forth, among other things, the information required under Section 5.04(d). 
 (j) The
Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all reasonable out-of-pocket expenses required to be reimbursed or
paid by the Borrower hereunder or under any other Loan Document. 
 (k) The Security Documents shall have been duly executed by each Loan
Party that is to be a party thereto and shall be in full force and effect on the Closing Date. The Collateral Agent on behalf of the Secured Parties shall have a security interest in the Collateral of the type and priority described in each Security
Document. Certificates representing such Pledged Collateral (as defined in the Guarantee and Collateral Agreement) and Foreign Pledged Collateral (to the extent certificated), in each case accompanied by instruments of transfer and stock powers
endorsed in blank, shall have been delivered to the collateral agent under the First Lien Facilities (who will hold such Pledged Collateral as bailee for perfection for the Collateral Agent) (or in the case of any uncertificated Foreign Pledged
Collateral, arrangements consistent with applicable local law and reasonably satisfactory to the Collateral Agent in respect thereof shall have been implemented). 
 (l) The Collateral Agent shall have received a Perfection Certificate with respect to the Borrower and the other Loan Parties dated the Closing Date and duly executed by a Responsible Officer of the Borrower, and
shall have received the results of a search of the Uniform Commercial Code filings (or equivalent filings) made with respect to the Borrower and the other Loan Parties in the states (or other jurisdictions) of formation of such persons, in which the
chief executive office of each such person is located and in the other jurisdictions in which such persons maintain property, in each case as indicated on such Perfection Certificate, together with copies of the financing statements (or similar
documents) disclosed by such search, and accompanied by evidence satisfactory to the Collateral Agent that the Liens indicated in any such financing statement (or similar document) would be permitted under Section 6.02 or have been or will be
contemporaneously released or terminated. 
 (m) (i) Each of the Security Documents, in form and substance satisfactory to the Lenders,
relating to each of the Mortgaged Properties shall have been duly executed by the parties thereto and delivered to the Collateral Agent and shall be in full force and effect on the Closing Date (or on such date as the Borrower and Collateral Agent
shall reasonably agree), 
  

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 (ii) each of such Mortgaged Properties shall not be subject to any Lien other than those permitted under
Section 6.02 and (iii) the Collateral Agent shall have received on the Closing Date (or on such date as the Borrower and Collateral Agent shall reasonably agree) such other documents, surveys, abstracts, appraisals and legal opinions
required to be furnished pursuant to the terms of the Mortgages or as reasonably requested by the Collateral Agent or the Lenders. 
 (n) The
Administrative Agent shall have received a copy of, or a certificate as to coverage under, the insurance policies required by Section 5.02 and the applicable provisions of the Security Documents, each of which shall be endorsed or otherwise
amended to include a customary lender’s loss payable endorsement and to name the Collateral Agent as additional insured, in form and substance satisfactory to the Administrative Agent. 
 (o) The Amendment Agreement shall have become effective in accordance with its terms, and the Administrative Agent shall have received reasonably
satisfactory evidence thereof. The Borrower shall have received gross cash proceeds of not less than $375,000,000 from the borrowings under the First Lien Credit Agreement pursuant to the Amendment Agreement. Immediately after giving effect to the
Transactions and the other transactions contemplated hereby, the Borrower and the Subsidiaries shall have outstanding no Indebtedness or Preferred Equity Interests other than (a) Indebtedness outstanding under this Agreement,
(b) Indebtedness under the First Lien Facilities, (c) Indebtedness set forth on Schedule 6.01 and (d) Existing Preferred Stock pending the repurchase, redemption or other refinancing thereof. 
 (p) The Administrative Agent shall have received a certificate, dated the Closing Date and signed by the chief financial officer of the Borrower,
certifying that the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transactions, are solvent. 
 (q) All
requisite Governmental Authorities and third parties shall have approved or consented to the Transactions and the other transactions contemplated hereby to the extent required, all applicable appeal periods shall have expired and there shall not be
any pending or threatened litigation, governmental, administrative or judicial action that could reasonably be expected to restrain, prevent or impose materially burdensome conditions on the Transactions or the other transactions contemplated
hereby. 
 (r) The Lenders shall have received, to the extent requested, all documentation and other information required by regulatory
authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act. 
 ARTICLE V 
 Affirmative Covenants 
 The Borrower covenants and agrees with each Lender that so long as this Agreement shall remain in effect and until the Commitments have been terminated and the principal of and interest on each Loan and all fees and
all other expenses or amounts payable under any Loan Document shall have been paid in full, unless the Required Lenders shall otherwise consent in writing, the Borrower will, and will cause each of the Subsidiaries to: 
  

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 SECTION 5.01. Existence; Businesses; Oil and Gas Properties. (a) Do or cause to be done all
things necessary to preserve, renew and keep in full force and effect its legal existence, except as otherwise expressly permitted under Section 6.05. 
 (b) Do or cause to be done all things necessary to obtain, preserve, renew, extend and keep in full force and effect the rights, licenses, permits, franchises, authorizations, patents, copyrights, trademarks and trade
names material to the conduct of its business; maintain and operate such business in substantially the manner in which it is currently conducted and operated; comply in all material respects with all applicable laws, rules, regulations and decrees
and orders of any Governmental Authority, whether now in effect or hereafter enacted; and at all times maintain and preserve all property material to the conduct of such business and keep such property in good repair, working order and condition and
from time to time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith may be properly conducted at all times.

 (c) Comply in all material respects with the terms and provisions of all oil and gas leases and licenses relating to the Oil and Gas
Properties of the Borrower and the Subsidiaries and all contracts and agreements relating thereto or to the production and sale of Hydrocarbons therefrom; and with respect to any such Oil and Gas Properties or oil and gas gathering assets that are
operated by operators other than the Borrower or a Subsidiary, use all commercially reasonable efforts to enforce in a manner consistent with industry practice the operator’s contractual obligations to maintain, develop, and operate such Oil
and Gas Properties and oil and gas gathering assets in accordance with the applicable operating agreements. 
 SECTION 5.02.
Insurance. (a) Keep its insurable properties adequately insured at all times by financially sound and reputable insurers; maintain such other insurance, to such extent and against such risks, including fire and other risks insured
against by extended coverage, as is customary with companies in the same or similar businesses operating in the same or similar locations, including public liability insurance against claims for personal injury or death or property damage occurring
upon, in, about or in connection with the use of any properties owned, occupied or controlled by it; and maintain such other insurance as may be required by law. 
 (b) Cause all such policies covering any Collateral to be endorsed or otherwise amended to include a customary lender’s loss payable endorsement, in form and substance satisfactory to the Administrative Agent and
the Collateral Agent, which endorsement shall provide that, from and after the Closing Date, if the insurance carrier shall have received written notice from the Administrative Agent or the Collateral Agent of the occurrence of an Event of Default,
the insurance carrier shall pay all proceeds otherwise payable to the Borrower or the Loan Parties under such policies directly to the Collateral Agent; cause all such policies to provide that neither the Borrower, the Administrative Agent, the
Collateral Agent nor any other party shall be a coinsurer thereunder and to contain a “Replacement Cost Endorsement”, without any deduction for depreciation, and such other provisions as the Administrative Agent or the Collateral Agent may
reasonably require from time to time to protect their interests; deliver original or certified copies of all such policies or certificates evidencing such policies to the Collateral Agent; cause each such policy to provide that it shall not be
canceled, modified or not renewed (i) by reason of 
  

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 nonpayment of premium upon not less than 10 days’ prior written notice thereof by the insurer to the Administrative
Agent and the Collateral Agent (giving the Administrative Agent and the Collateral Agent the right to cure defaults in the payment of premiums) or (ii) for any other reason upon not less than 30 days’ prior written notice thereof by the
insurer to the Administrative Agent and the Collateral Agent; deliver to the Administrative Agent and the Collateral Agent, prior to the cancellation, modification or nonrenewal of any such policy of insurance, a copy of a renewal or replacement
policy (or other evidence of renewal of a relevant policy) together with evidence satisfactory to the Administrative Agent and the Collateral Agent of payment of the premium therefor. 
 (c) With respect to any Mortgaged Property, carry and maintain comprehensive general liability insurance including the “broad form” commercial
general liability endorsement and coverage on an occurrence basis against claims made for personal injury (including bodily injury, death and property damage) and umbrella liability insurance against any and all claims, in no event for a combined
single limit of less than $10,000,000, naming the Collateral Agent as an additional insured, on forms satisfactory to the Collateral Agent. 
 (d) Notify the Administrative Agent and the Collateral Agent immediately whenever any separate insurance concurrent in form or contributing in the event of loss with that required to be maintained under this Section 5.02 is taken out
by the Borrower; and promptly deliver to the Administrative Agent and the Collateral Agent a duplicate original copy of such policy or policies or certificates evidencing such policy or policies. 
 SECTION 5.03. Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge
promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor,
materials and supplies or otherwise that, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment,
charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Borrower shall have set aside on its books adequate reserves with respect thereto in accordance with GAAP and such
contest operates to suspend collection of the contested obligation, tax, assessment or charge and enforcement of a Lien (or, in the case of an involuntary Lien of the type described in Section 6.02(f), such Lien remains in effect and unreleased
for no more than 30 days after the date it is imposed) and, in the case of a Mortgaged Property, there is no risk of forfeiture of such property. 
 SECTION 5.04. Financial Statements, Reserve Reports, etc. In the case of the Borrower, furnish to the Administrative Agent: 
 (a) within 95 days after the end of each fiscal year, its consolidated balance sheet and related statements of income, stockholders’ equity and cash flows showing the financial condition of the Borrower and its
consolidated Subsidiaries as of the close of such fiscal year and the results of its operations and the operations of such Subsidiaries during such year, together with comparative figures for the immediately preceding fiscal year, all audited by
Deloitte & Touche LLP or other independent public accountants of 
  

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 recognized national standing and accompanied by an opinion of such accountants (which opinion shall be
without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements fairly present the financial condition and
results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; 
 (b) within 50 days after the end of each of the first three fiscal quarters of each fiscal year, its consolidated balance sheet and related statements of income, stockholders’ equity and cash flows showing the
financial condition of the Borrower and its consolidated Subsidiaries as of the close of such fiscal quarter and the results of its operations and the operations of such Subsidiaries during such fiscal quarter and the then elapsed portion of the
fiscal year, and comparative figures for the same periods in the immediately preceding fiscal year, all certified by one of its Financial Officers as fairly presenting the financial condition and results of operations of the Borrower and its
consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments; 
 (c) concurrently with any delivery of financial statements under paragraph (a) or (b) above, a certificate of the chief financial officer of the Borrower (i) certifying that no Event of Default or
Default has occurred or, if such an Event of Default or Default has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect thereto, (ii) describing the material terms of
(x) any Asset Sales and (y) any sales, transfers or other dispositions of the nature described in clause (y) to the proviso in the definition of the term “Asset Sale”, in each case, that occurred during the preceding quarter
(including, as applicable, the nature of the assets sold, the sale price and Net Cash Proceeds therefrom and the amount of proceeds from all Asset Sales during such period that have been reinvested or that are awaiting reinvestment in accordance
with the definition of the term “Net Cash Proceeds”) and (iii) setting forth computations in reasonable detail satisfactory to the Administrative Agent demonstrating compliance with the covenants contained in Sections 6.12, 6.13,
6.14 and 6.15 and, in the case of a certificate delivered with the financial statements required by paragraph (a) above, setting forth the Borrower’s calculation of Excess Cash Flow; 
 (d) prior to or concurrently with any delivery of such annual and semi-annual financial statements as are required under paragraph
(a) or (b) above, a Reserve Report (which shall be (i) an annual Reserve Report (as described in the definition of such term) in the case of a Reserve Report delivered in connection with annual financial statements or (ii) a
semi-annual Reserve Report (as so described) in the case of a Reserve Report delivered in connection with quarterly financial statements for the fiscal quarter ended June 30) setting forth, among other things, (i) the Oil and Gas
Properties owned by the Borrower and the Subsidiaries and covered by such Reserve Report, (ii) the Proved Reserves and probable reserves attributable to such Oil and Gas Properties and (iii) a projection of the rate of production and net
income of such Proved Reserves and probable reserves as of the date as of which the information set forth in such Reserve Report is provided, all in accordance with the guidelines published by the Securities and Exchange Commission (but utilizing
the pricing parameters set forth in the definition of the term 
  

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 PV-10 Value (and, in the case of an annual Reserve Report, in addition to such pricing parameters those
specified in such Securities and Exchange Commission guidelines)) and utilizing such operating cost and other assumptions as proposed by the Company and agreed to by the Administrative Agent (or, if no such agreement is reached, such cost and other
assumptions as the Administrative Agent shall from time to time specify); 
 (e) concurrently with the delivery of each
Reserve Report under paragraph (d) above, a certificate of a Responsible Officer showing any additions to or deletions from the Oil and Gas Properties made by the Borrower and the Subsidiaries since the date of the most recently delivered
previous Reserve Report; 
 (f) at least 30 days prior to the commencement of each fiscal year of the Borrower, a detailed
consolidated budget for such fiscal year (including a projected consolidated balance sheet and related statements of projected operations and cash flows as of the end of and for such fiscal year and setting forth the assumptions used for purposes of
preparing such budget) and, promptly when available, any significant revisions of such budget; 
 (g) concurrently with any
delivery of financial statements under paragraph (a) or (b) above, copies of all periodic and other reports, proxy statements and other materials filed by the Borrower or any Subsidiary with the Securities and Exchange Commission, or any
Governmental Authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, or distributed to its shareholders, as the case may be (it being understood and agreed that the Borrower shall notify the
Administrative Agent of the filing of any such periodic report on Form 8-K that the Borrower determines in good faith relates to a matter that is or may be material to the interests of the Lenders promptly after the same becomes publicly
available); 
 (h) promptly after the receipt thereof by the Borrower or any Subsidiary, a copy of any “management
letter” (whether in final or draft form) received by any such person from its certified public accountants and the management’s response thereto; 
 (i) promptly after the request by any Lender, all documentation and other information that such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your
customer” and anti-money laundering rules and regulations, including the USA Patriot Act; and 
 (j) promptly, from time
to time, such other information regarding the operations, business affairs and financial condition of the Borrower or any Subsidiary, or compliance with the terms of any Loan Document, as the Administrative Agent or any Lender may reasonably
request. 
 SECTION 5.05. Litigation and Other Notices. Furnish to the Administrative Agent prompt written notice of the following:

 (a) any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) taken or
proposed to be taken with respect thereto; 
  

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 (b) the filing or commencement of, or any threat or notice of intention of any person to
file or commence, any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority, against the Borrower or any Affiliate thereof that could reasonably be expected to result in a Material Adverse Effect;

 (c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could
reasonably be expected to result in liability of the Borrower and the Subsidiaries in an aggregate amount exceeding $2,500,000; and 
 (d) any development that has resulted in, or could reasonably be expected to result in, a Material Adverse Effect. 
 SECTION 5.06.
Information Regarding Collateral. (a) Furnish to the Administrative Agent prompt written notice of any change (i) in any Loan Party’s corporate name, (ii) in the jurisdiction of organization or formation of any Loan Party,
(iii) in any Loan Party’s identity or corporate structure or (iv) in any Loan Party’s Federal Taxpayer Identification Number. The Borrower agrees not to effect or permit any change referred to in the preceding sentence unless all
filings have been made under the Uniform Commercial Code or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected security interest in all the Collateral.
The Borrower also agrees promptly to notify the Administrative Agent if any material portion of the Collateral is damaged or destroyed. 
 (a) In the case of the Borrower, each year, at the time of delivery of the annual financial statements with respect to the preceding fiscal year pursuant to Section 5.04(a), deliver to the Administrative Agent a certificate of a
Financial Officer setting forth the information required pursuant to Section 2 of the Perfection Certificate or confirming that there has been no change in such information since the date of the Perfection Certificate delivered on the Closing
Date or the date of the most recent certificate delivered pursuant to this Section 5.06. 
 SECTION 5.07. Maintaining Records; Access
to Properties and Inspections. Keep proper books of record and account in which full, true and correct entries in conformity with GAAP and all requirements of law are made of all dealings and transactions in relation to its business and
activities. The Borrower will, and will cause each of the Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender to visit and inspect the financial records and the properties of any such person at reasonable
times and as often as reasonably requested and to make extracts from and copies of such financial records, and permit any representatives designated by the Administrative Agent or any Lender to discuss the affairs, finances and condition of any such
person with the officers thereof and independent accountants therefor. 
 SECTION 5.08. Use of Proceeds. Use the proceeds of the Loans
only for the purposes specified in the preliminary statement to this Agreement. 
 SECTION 5.09. Further Assurances. (a) Execute
any and all further documents, financing statements, agreements and instruments, and take all further action (including filing Uniform Commercial Code and other financing statements, mortgages and deeds of trust) that 
  

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 may be required under applicable law, or that the Required Lenders, the Administrative Agent or the Collateral Agent may
reasonably request, in order to effectuate the transactions contemplated by the Loan Documents and in order to grant, preserve, protect and perfect the validity and first priority (subject only to Liens permitted by Section 6.02 and to the Lien
priorities set forth in the Intercreditor Agreement) of the Liens created or intended to be created by the Security Documents. The Borrower will cause any subsequently acquired or organized Domestic Subsidiary to become a Loan Party by executing the
Guarantee and Collateral Agreement and each other applicable Security Document in favor of the Collateral Agent. In addition, from time to time, the Borrower will, at its cost and expense, promptly secure the Obligations by pledging or creating, or
causing to be pledged or created, perfected Liens with respect to such of its assets and properties as the Administrative Agent or the Required Lenders shall designate (it being understood that it is the intent of the parties that the Obligations
shall be secured by substantially all the assets of the Borrower and its Domestic Subsidiaries (including Oil and Gas Properties and other real and other properties acquired subsequent to the Closing Date)). Such security interests and Liens will be
created under the Security Documents and other security agreements, mortgages, deeds of trust and other instruments and documents in form and substance satisfactory to the Collateral Agent, and the Borrower shall deliver or cause to be delivered to
the Collateral Agent all such instruments and documents (including legal opinions, title insurance policies and lien searches) as the Collateral Agent shall reasonably request to evidence compliance with this Section 5.09. The Borrower agrees
to provide such evidence as the Collateral Agent shall reasonably request as to the perfection and priority status of each such security interest and Lien. In furtherance of the foregoing, the Borrower will give notice to the Administrative Agent
concurrently with any delivery of financial statements under Section 5.04(a) or (b) of the acquisition by it or any of the Domestic Subsidiaries of any Oil and Gas Property or real property (or any interest in any Oil and Gas Property or
real property) having a value in excess of $1,000,000. It is understood and agreed that, notwithstanding anything to the contrary in the foregoing, the Borrower and the Domestic Subsidiaries will not be required to grant a security interest in or
mortgage on any Oil and Gas Property under this paragraph (a) that would not otherwise be required under paragraph (c) of this Section 5.09. 
 (b) Within 60 days after the making of a request therefor by the Administrative Agent, furnish such title opinions and/or title information as may be necessary to achieve title opinion/title information coverage with
respect to Oil and Gas Properties representing in the aggregate not less than 90% of PV-10 Value as set forth in the Reserve Report most recently delivered pursuant to Section 5.04(d) prior to the making of such request. 
 (c) Regularly monitor engineering data covering all Oil and Gas Properties of the Borrower and the Domestic Subsidiaries and mortgage or cause to be
mortgaged such of the same to the Collateral Agent on behalf of the Secured Parties pursuant to a Mortgage to the extent necessary to ensure that the Obligations shall at all times be secured by second priority perfected Liens and security interests
in each Domestic Oil and Gas Property having an individual value of $25,000,000 or more (on a contribution to PV-10 Value basis) and Domestic Oil and Gas Properties in the aggregate representing not less than 90% of the aggregate PV-10 Value
attributable to all Domestic Oil and Gas Properties. 
 SECTION 5.10. Commodity Hedging Agreements. Maintain in effect Commodity
Hedging Agreements with one or more Approved Counterparties that establish minimum prices 
  

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 reasonably acceptable to the Administrative Agent on a volume of Hydrocarbons equal to not less than 40% of the projected
PDP production (measured as of each date of delivery to the Administrative Agent of the financial statements and certificates required by Section 5.04(a) or (b) and Section 5.04(c), respectively) from the Oil and Gas Properties of the
Borrower and the Subsidiaries for the succeeding twelve calendar months on a rolling twelve calendar month basis. 
 ARTICLE VI 
 Negative Covenants 
 The Borrower
covenants and agrees with each Lender that, so long as this Agreement shall remain in effect and until the Commitments have been terminated and the principal of and interest on each Loan and all fees and all other expenses or amounts payable under
any Loan Document have been paid in full, unless the Required Lenders shall otherwise consent in writing, the Borrower will not, nor will it cause or permit any of the Subsidiaries to: 
 SECTION 6.01. Indebtedness. Incur, create, assume or permit to exist any Indebtedness, except: 
 (a) Indebtedness existing on the Closing Date and set forth in Schedule 6.01; 
 (b) Indebtedness created hereunder and under the other Loan Documents; 
 (c) Indebtedness under the First Lien Credit Agreement and any Permitted Refinancing Indebtedness incurred to Refinance such Indebtedness
in an aggregate principal amount at any time outstanding not to exceed the amount permitted under the Intercreditor Agreement; 
 (d) intercompany Indebtedness of the Borrower and the Subsidiaries to the extent permitted by Section 6.04(c); 
 (e) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction or improvement of any fixed or capital assets, and extensions, renewals and replacements of any such Indebtedness that do not increase the
outstanding principal amount thereof; provided that (i) such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement and (ii) the aggregate principal amount of
Indebtedness permitted by this Section 6.01(e), when combined with the aggregate principal amount of all Capital Lease Obligations and Synthetic Lease Obligations incurred pursuant to Section 6.01(f), shall not exceed $200,000,000 at any
time outstanding; 
 (f) Capital Lease Obligations and Synthetic Lease Obligations in an aggregate principal amount, when
combined with the aggregate principal amount of all Indebtedness incurred pursuant to Section 6.01(e), not in excess of $200,000,000 at any time outstanding; 
 (g) Indebtedness under performance bonds or with respect to workers’ compensation claims, in each case incurred in the ordinary
course of business; 
  

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 (h) Indebtedness consisting of reimbursement obligations or other obligations as an
account party in respect of letters of credit issued for the account of the Borrower or any Subsidiary (i) to ensure payment or performance of the obligations referred to in Section 6.02(h), or (ii) in the ordinary course of business
in an amount not in excess of $10,000,000 at any time outstanding; 
 (i) (i) Permitted Subordinated Indebtedness
incurred by the Borrower; provided that (A) at the time of the incurrence of such Permitted Subordinated Indebtedness and after giving pro forma effect thereto, no Default or Event of Default shall have occurred and be continuing or
would result therefrom and the Borrower shall be in Pro Forma Financial Covenant Compliance, (B) a Financial Officer of the Borrower shall have delivered an officer’s certificate demonstrating the calculation of such Pro Forma Financial
Covenant Compliance in form and detail reasonably satisfactory to the Administrative Agent and (C) the Borrower shall have notified the Administrative Agent reasonably prior to the issuance of such Permitted Subordinated Indebtedness and of the
principal terms thereof and the Administrative Agent shall have approved of such terms to the extent the Administrative Agent’s approval thereof is contemplated by the definition of the term “Permitted Subordinated Indebtedness”; and
(ii) Permitted Refinancing Indebtedness in respect thereof; and 
 (j) other unsecured Indebtedness of the Borrower or
the Subsidiaries in an aggregate principal amount not exceeding $60,000,000 at any time outstanding (provided that the aggregate principal amount of Indebtedness incurred pursuant to this paragraph (j) by Subsidiaries that are not
Subsidiary Guarantors shall not exceed $10,000,000). 
 SECTION 6.02. Liens. Create, incur, assume or permit to exist any Lien on any
property or assets (including Equity Interests or other securities of any person, including any Subsidiary) now owned or hereafter acquired by it or on any income or revenues or rights in respect of any thereof, except: 
 (a) Liens on property or assets of the Borrower and its Subsidiaries existing on the Closing Date and set forth in Schedule 6.02;
provided that such Liens shall secure only those obligations which they secure on the Closing Date; 
 (b) any Lien
created under the Loan Documents; 
 (c) the First Priority Liens; 
 (d) any Lien existing on any property or asset prior to the acquisition thereof by the Borrower or any Subsidiary; provided that
(i) such Lien is not created in contemplation of or in connection with such acquisition, (ii) such Lien does not apply to any other property or assets of the Borrower or any Subsidiary and (iii) such Lien does not (A) materially
interfere with the use, occupancy and operation of any Mortgaged Property, (B) materially reduce the fair market value of such Mortgaged Property but for such Lien or (C) result in any material increase in the cost of operating, occupying
or owning or leasing such Mortgaged Property; 
  

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 (e) Liens for taxes not yet due or which are being contested in compliance with
Section 5.03; 
 (f) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other
like Liens arising in the ordinary course of business and securing obligations that are not due and payable or which are being contested in compliance with Section 5.03; 
 (g) pledges and deposits made in the ordinary course of business in compliance with workmen’s compensation, unemployment insurance
and other social security laws or regulations; 
 (h) deposits to secure the performance of bids, trade contracts (other than
for Indebtedness), leases (other than Capital Lease Obligations), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business, or to secure letters of credit
issued to ensure payment or performance of any of the foregoing; 
 (i) zoning restrictions, easements, rights-of-way,
restrictions on use of real property and other similar encumbrances incurred in the ordinary course of business which, in the aggregate, are not substantial in amount and do not materially detract from the value of the property subject thereto or
interfere with the ordinary conduct of the business of the Borrower or any of its Subsidiaries; 
 (j) purchase money security
interests or other Liens in real property, improvements thereto or equipment hereafter acquired (or, in the case of improvements, constructed) by the Borrower or any Subsidiary; provided that (i) such security interests or other Liens
secure Indebtedness permitted by Section 6.01, (ii) such security interests or other Liens are incurred, and the Indebtedness secured thereby is created, within 90 days after such acquisition (or construction), (iii) the Indebtedness
secured thereby does not exceed 90% of the lesser of the cost or the fair market value of such real property, improvements or equipment at the time of such acquisition (or construction) and (iv) such security interests or other Liens do not
apply to any other property or assets of the Borrower or any Subsidiary; 
 (k) Liens arising out of judgments or awards in
respect of which the Borrower or any of the Subsidiaries shall in good faith be prosecuting an appeal or proceedings for review in respect of which there shall be secured a subsisting stay of execution pending such appeal or proceedings;
provided that the aggregate amount of all such judgments or awards (and any cash and the fair market value of any property subject to such Liens) does not exceed $10,000,000 at any time outstanding; 
 (l) deposits of cash collateral required under the terms of Commodity Hedging Agreements entered into in the ordinary course of business
in compliance with Section 5.11 in an amount not exceeding $20,000,000 at any time; 
 (m) Liens arising under operating
agreements, joint venture agreements, partnership agreements, oil and gas leases, farm-out and farm-in agreements, division orders, contracts for the sale, transportation or exchange of oil or natural gas, unitization 
  

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 and pooling declarations and agreements, area of mutual interest agreements and other agreements that are
customary in the Oil and Gas Business; provided that the amount of any obligations secured thereby that are delinquent, that are not diligently contested in good faith and for which adequate reserves are not maintained by the Borrower or the
applicable Subsidiary, as the case may be, do not exceed, at any time outstanding, the amount owing by the Borrower or such Subsidiary, as applicable, for two months’ billed operating expenses or other expenditures attributable to such
person’s interest in the property covered thereby; and provided further that the obligations secured thereby do not constitute obligations in respect of borrowed money; 
 (n) Liens reserved in oil and gas mineral leases for bonus or rental payments and for compliance with the terms of such leases,
provided that the amount of any obligations secured thereby that are delinquent, that are not diligently contested in good faith and for which adequate reserves are not maintained by the Borrower or the applicable Subsidiary, as the case may
be, do not exceed, at any time outstanding, the amount owing by the Borrower or such Subsidiary, as applicable, for two months’ payments as due thereunder; and 
 (o) Liens on pipeline or pipeline facilities that arise under operation of law. 
 SECTION 6.03. Sale and Lease-Back Transactions. Enter into any arrangement, directly or indirectly, with any person whereby it shall sell or
transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends to use for substantially the same purpose or purposes as
the property being sold or transferred unless (a) the sale of such property is permitted by Section 6.05 and (b) any Capital Lease Obligations, Synthetic Lease Obligations or Liens arising in connection therewith are permitted by
Sections 6.01 and 6.02, as the case may be. 
 SECTION 6.04. Investments, Loans, Advances and Oil and Gas Property Acquisitions.
Purchase, hold or acquire any Equity Interests, evidences of indebtedness or other securities of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other person, or make any
other investment or acquisition of Oil and Gas Properties, except: 
 (a) (i) investments by the Borrower and the
Subsidiaries existing on the Closing Date in the Equity Interests of the Borrower and the Subsidiaries and (ii) additional investments by the Borrower and the Subsidiaries in the Equity Interests of the Borrower and the Subsidiaries;
provided that (A) any such Equity Interests held by a Loan Party shall be pledged pursuant to the Guarantee and Collateral Agreement or other applicable Security Document and (B) the aggregate amount of investments by Loan Parties
in, and loans and advances by Loan Parties to, Subsidiaries that are not Loan Parties (determined without regard to any write-downs or write-offs of such investments, loans and advances), other than those permitted pursuant to paragraph
(d) below, shall not exceed $10,000,000 at any time outstanding; 
 (b) Permitted Investments; 
  

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 (c) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary
to the Borrower or any other Subsidiary; provided that (i) any such loans and advances made by a Loan Party shall be evidenced by a promissory note pledged to the Collateral Agent for the ratable benefit of the Secured Parties pursuant
to the Guarantee and Collateral Agreement or other applicable Security Document and (ii) the amount of such loans and advances made by Loan Parties to Subsidiaries that are not Loan Parties shall be subject to the limitations set forth in
paragraph (a) above and paragraph (d) below; 
 (d) investments by Loan Parties in, and loans and advances by Loan
Parties to any Foreign Subsidiary to fund Capital Expenditures and other development costs in respect of Oil and Gas Properties located in the North Sea, the aggregate amount of which following the Closing Date (determined without regard to any
write-downs or write-offs of such investments, loans and advances) shall not exceed $300,000,000; 
 (e) investments received
in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers and suppliers, in each case in the ordinary course of business; 
 (f) the Borrower and the Subsidiaries may make loans and advances in the ordinary course of business to their respective employees so long
as the aggregate principal amount thereof at any time outstanding (determined without regard to any write-downs or write-offs of such loans and advances) shall not exceed $1,000,000 at any time; 
 (g) the Borrower or any Subsidiary may enter into Hedging Agreements that (i) are required by Section 5.10 or (ii) are not
speculative in nature; 
 (h) Permitted Business Investments; provided that (i) the aggregate amount of Permitted
Business Investments in any fiscal year does not exceed the greater of (A) $150,000,000 or (B) 7.5% of PV-10 Value and (ii) both before and after giving effect thereto, no Event of Default or Default shall have occurred and be
continuing; 
 (i) in addition to investments permitted by paragraphs (a) through (h) above, additional investments,
loans and advances by the Borrower and the Subsidiaries so long as the aggregate amount invested, loaned or advanced pursuant to this paragraph (i) (determined without regard to any write-downs or write-offs of such investments, loans and
advances) does not exceed $10,000,000 in the aggregate. 
 SECTION 6.05. Mergers, Consolidations, Sales of Assets and Acquisitions.
(a) Merge into or consolidate with any other person, or permit any other person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or substantially all
the assets (whether now owned or hereafter acquired) of the Borrower or less than all the Equity Interests of any Subsidiary, or purchase, lease or otherwise acquire (in one transaction or a series of transactions) all or any substantial part of the
assets of any other person, except that (i) the Borrower and any Subsidiary may purchase and sell Hydrocarbons and other inventory in the ordinary course of business and (ii) if at the time 
  

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 thereof and immediately after giving effect thereto no Event of Default or Default shall have occurred and be continuing
(x) any wholly owned Subsidiary may merge into the Borrower in a transaction in which the Borrower is the surviving corporation, (y) any wholly owned Subsidiary may merge into or consolidate with any other wholly owned Subsidiary in a
transaction in which the surviving entity is a wholly owned Subsidiary and no person other than the Borrower or a wholly owned Subsidiary receives any consideration (provided that if any party to any such transaction is a Loan Party, the
surviving entity of such transaction shall be a Loan Party) and (z) the Borrower and the Subsidiaries may make Permitted Business Investments in accordance with Section 6.04. 
 (b) Engage in any Asset Sale otherwise permitted under paragraph (a) above unless (i) such Asset Sale (x) involves the sale, transfer,
lease or other disposition of Hydrocarbon Interests for consideration that consists of Hydrocarbon Interests or a combination of Hydrocarbon Interests and cash or (y) is for consideration at least 75% of which is cash, (ii) such
consideration is at least equal to the fair market value of the assets being sold, transferred, leased or disposed of and (iii) the fair market value of all assets sold, transferred, leased or disposed of pursuant to this paragraph
(b) shall not exceed, in the aggregate, the greater of (A) $75,000,000 or (B) 7.5% of PV-10 Value. 
 SECTION 6.06.
Restricted Payments; Restrictive Agreements. (a) Declare or make, or agree to declare or make, directly or indirectly, any Restricted Payment (including pursuant to any Synthetic Purchase Agreement), or incur any obligation (contingent
or otherwise) to do so; provided, however, that (i) any Subsidiary may declare and pay dividends or make other distributions ratably to its equity holders, (ii) so long as no Event of Default or Default shall have occurred
and be continuing or would result therefrom, the Borrower may (A) repurchase its Equity Interests owned by employees of the Borrower or the Subsidiaries or make payments to employees of the Borrower or the Subsidiaries upon termination of
employment in connection with the exercise of stock options, stock appreciation rights or similar equity incentives or equity based incentives pursuant to management incentive plans or in connection with the death or disability of such employees in
an aggregate amount not to exceed $5,000,000 in any fiscal year or (B) repurchase, redeem or otherwise refinance any Existing Preferred Stock that remains outstanding as of the Closing Date or (C) repurchase its common Equity Interests in
the open market or otherwise in an aggregate amount not to exceed the sum of (x) $10,000,000 and (y) the CNI Growth Amount as in effect immediately prior to the time of the making of such Restricted Payment; (iii) so long as no
Default or Event of Default shall have occurred and be continuing or would result therefrom, the Borrower may pay regularly scheduled cash dividends on any Preferred Equity Interests issued after the Closing Date to the extent the incurrence thereof
is permitted pursuant to Section 6.01, and (iv) so long as no Default or Event of Default shall have occurred and be continuing or would result therefrom, the Borrower may make other Restricted Payments under this clause (iv) in an
amount not to exceed $5,000,000 in any fiscal year. 
 (b) Enter into, incur or permit to exist any agreement or other arrangement that
prohibits, restricts or imposes any condition upon (i) the ability of the Borrower or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets, or (ii) the ability of any Subsidiary to pay dividends or
other distributions with respect to any of its Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (A) the
foregoing shall not 
  

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 apply to restrictions and conditions imposed by law or by any Loan Document (or any First Lien Facility Documents),
(B) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to
be sold and such sale is permitted hereunder, (C) clause (i) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or
conditions apply only to the property or assets securing such Indebtedness and (D) clause (i) of the foregoing shall not apply to customary provisions in leases and other contracts restricting the assignment thereof. 
 SECTION 6.07. Transactions with Affiliates. Except for transactions between or among Loan Parties, sell or transfer any property or assets to, or
purchase or acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except that the Borrower or any Subsidiary may engage in any of the foregoing transactions in the ordinary course of business
at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties. 
 SECTION 6.08. Business of the Borrower and Subsidiaries. Engage at any time in any business or business activity other than the Oil and Gas
Business. 
 SECTION 6.09. Other Indebtedness and Agreements. (a) Permit (i) any waiver, supplement, modification,
amendment, termination or release of any Junior Financing Documentation or any other indenture, instrument or agreement pursuant to which any Material Indebtedness (other than Indebtedness under the First Lien Credit Agreement and any Permitted
Refinancing Indebtedness incurred to Refinance such Indebtedness) of the Borrower or any of the Subsidiaries is outstanding if the effect of such waiver, supplement, modification, amendment, termination or release would materially increase the
obligations of the obligor or confer additional material rights on the holder of such Indebtedness in a manner adverse to the Borrower, any of the Subsidiaries or the Lenders or (ii) any amendment, restatement, supplement or modification of any
First Lien Facility Document, except in accordance with the Intercreditor Agreement. 
 (b) (i) Make any distribution, whether in cash,
property, securities or a combination thereof, other than regular scheduled payments of principal and interest as and when due (to the extent not prohibited by applicable subordination provisions), in respect of, or pay, or offer or commit to pay,
or directly or indirectly (including pursuant to any Synthetic Purchase Agreement) redeem, repurchase, retire or otherwise acquire for consideration, or set apart any sum for the aforesaid purposes, (A) any Permitted Subordinated Indebtedness
or other subordinated Indebtedness or (B) any Disqualified Capital Stock, or (ii) pay in cash any amount in respect of any Indebtedness or Preferred Equity Interests that may at the obligor’s option be paid in kind or in other
securities. 
 SECTION 6.10. Forward Sales. Except in accordance with usual and customary practice in the Oil and Gas Business and
except for Hydrocarbon imbalances not in excess of the greater of (i) 10 Bcfe or (ii) 3% of projected PDP production from time to time from the Oil and Gas Properties of the Borrower and the Subsidiaries for the succeeding twelve calendar
months, enter into or permit to exist any advance payment agreement or other arrangement pursuant to 
  

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 which the Borrower or any of the Subsidiaries, having received full or substantial payment of the purchase price for a
specified quantity of Hydrocarbons upon entering such agreement or arrangement, is required to deliver, in one or more installments subsequent to the date of such agreement or arrangement, such quantity of Hydrocarbons pursuant to and during the
terms of such agreement or arrangement. 
 SECTION 6.11. Limitation on Commodity Hedging. Enter into any Commodity Hedge Agreement if,
after giving effect thereto the total volume of Hydrocarbons to be hedged under Commodity Hedging Agreements would exceed, at the time of entering into any Commodity Hedge Agreement, 80% of the projected PDP production from the Oil and Gas
Properties of the Borrower and the Subsidiaries for the period during which such Commodity Hedging Agreement is in effect. 
 SECTION 6.12.
Interest Coverage Ratio. Permit the Interest Coverage Ratio for any period of four consecutive fiscal quarters, in each case taken as one accounting period, ending on the last day of any fiscal quarter to be less than 2.00 to 1.00.

 SECTION 6.13. Maximum Leverage Ratio. Permit the Leverage Ratio at the end of any fiscal quarter to be greater than 3.50 to 1.00.

 SECTION 6.14. Minimum Current Ratio. Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

 SECTION 6.15. Minimum Asset Coverage Ratios. Permit (i) the Reserve Coverage Ratio at June 30 or December 31 of any
fiscal year to be less than 2.50 to 1.00 or (ii) the PDP Coverage Ratio at June 30 or December 31 of any fiscal year to be less than 0.40 to 1.00. 
 SECTION 6.16. Designated Senior Debt. Designate any Indebtedness (other than under this Agreement and the other Loan Documents and under the First Lien Facility Documents) of the Borrower or any of its
Subsidiaries as “Senior Indebtedness”, “Designated Senior Debt” or “Senior Secured Financing” (or any comparable term) under, and as defined in, any Junior Financing Documentation relating to any Permitted Subordinated
Indebtedness. 
 SECTION 6.17. Fiscal Year. With respect to the Borrower, change its fiscal year-end to a date other than
December 31. 
 ARTICLE VII 
 Events of Default 
 In case of the happening of any of the following events (“Events of Default”):

 (a) any representation or warranty made or deemed made in or in connection with any Loan Document or the borrowings hereunder, or any
representation, warranty, statement or information contained in any report, certificate, financial statement or other instrument furnished in connection with or pursuant to any Loan Document, shall prove to have been false or misleading in any
material respect when so made, deemed made or furnished; 
  

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 (b) default shall be made in the payment of any principal of any Loan when and as the same shall become
due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or by acceleration thereof or otherwise; 
 (c)
default shall be made in the payment of any interest on any Loan or any fee or any other amount (other than an amount referred to in (b) above) due under any Loan Document, when and as the same shall become due and payable, and such default
shall continue unremedied for a period of three Business Days; 
 (d) default shall be made in the due observance or performance by the
Borrower or any Subsidiary of any covenant, condition or agreement contained in Section 5.01(a), 5.05 or 5.08 or in Article VI; 
 (e)
default shall be made in the due observance or performance by the Borrower or any Subsidiary of any covenant, condition or agreement contained in any Loan Document (other than those specified in (b), (c) or (d) above) and such default
shall continue unremedied for a period of 20 days after notice thereof from the Administrative Agent or any Lender to the Borrower; 
 (f) (i) the Borrower or any Subsidiary shall fail to pay any principal or interest, regardless of amount, due in respect of any Material Indebtedness, when and as the same shall become due and payable or (ii) any other event or
condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness
or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (ii)
shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness; provided further that an Event of Default under and as defined in the First Lien
Credit Agreement (other than the Events of Default described in paragraphs (b) or (c) of Section 7.01 of the First Lien Credit Agreement to which this proviso shall not apply) (a “First Lien Event of Default”)
shall not in and of itself constitute an Event of Default under this paragraph until the earlier to occur of (x) a period of 45 days has elapsed following notice of such First Lien Event of Default from the administrative agent or any lender
under the First Lien Credit Agreement to the Borrower, or from the Borrower to such administrative agent or any such lender, and (y) the acceleration of the maturity of any of the loans or the termination of any of the commitments under the
First Lien Credit Agreement in connection with such First Lien Event of Default or the exercise of any remedies by the lenders or the administrative agent under the First Lien Credit Agreement in connection with such First Lien Event of Default;

 (g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking
(i) relief in respect of the Borrower or any Subsidiary, or of a substantial part of the property or assets of the Borrower or a Subsidiary, under Title 11 of the United States Code, as now constituted or hereafter amended, or any other
Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of
the property or assets of the Borrower or a Subsidiary or (iii) the winding-up or liquidation of the Borrower or any Subsidiary; and such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering
any of the foregoing shall be entered; 
  

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 (h) the Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or file any
petition seeking relief under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) consent to the institution of, or fail
to contest in a timely and appropriate manner, any proceeding or the filing of any petition described in (g) above, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar
official for the Borrower or any Subsidiary or for a substantial part of the property or assets of the Borrower or any Subsidiary, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding,
(v) make a general assignment for the benefit of creditors, (vi) become unable, admit in writing its inability or fail generally to pay its debts as they become due or (vii) take any action for the purpose of effecting any of the
foregoing; 
 (i) one or more judgments shall be rendered against the Borrower, any Subsidiary or any combination thereof and the same shall
remain undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to levy upon assets or properties of the Borrower or any Subsidiary to
enforce any such judgment and such judgment either (i) is for the payment of money in an aggregate amount in excess of $10,000,000 or (ii) is for injunctive relief and could reasonably be expected to result in a Material Adverse Effect;

 (j) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other such ERISA Events,
could reasonably be expected to result in liability of the Borrower and its ERISA Affiliates in an aggregate amount exceeding $5,000,000; 
 (k) any Guarantee under the Guarantee and Collateral Agreement for any reason shall cease to be in full force and effect (other than in accordance with its terms), or any Guarantor shall deny in writing that it has any further liability
under the Guarantee and Collateral Agreement (other than as a result of the discharge of such Guarantor in accordance with the terms of the Loan Documents); 
 (l) (i) any security interest purported to be created by any Security Document shall cease to be, or shall be asserted by the Borrower or any other Loan Party not to be, a valid, perfected, first priority
(subject to the Lien priorities set forth in the Intercreditor Agreement and except as otherwise expressly provided in this Agreement or such Security Document) security interest in the securities, assets or properties covered thereby, except to the
extent that any such loss of perfection or priority results from the failure of the collateral agent under the First Lien Facilities to maintain possession of certificates representing securities pledged under the Guarantee and Collateral Agreement
or other applicable Security Document or (ii) the Intercreditor Agreement is not or ceases to be binding on or enforceable against any party thereto (or against any person on whose behalf any such party makes any covenants or agreements
therein), or shall otherwise not be effective to create the rights and obligations purported to be created thereunder; 
 (m) (i) any of
the Obligations of the Loan Parties under the Loan Documents for any reason shall cease to be “Senior Indebtedness”, “Designated Senior Debt” or “Senior Secured 
  

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 Financing” (or any comparable term) under, and as defined in, any other Junior Financing Documentation relating to
any Permitted Subordinated Indebtedness or (ii) the subordination provisions set forth in any Junior Financing Documentation relating to any Permitted Subordinated Indebtedness shall, in whole or in part, cease to be effective or cease to be
legally valid, binding and enforceable against the holders of such Permitted Subordinated Indebtedness; or 
 (n) there shall have occurred a
Change in Control; 
 then, and in every such event (other than an event with respect to the Borrower described in paragraph (g) or (h) above), and
at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take either or both of the following actions, at the same or different times:
(i) terminate forthwith the Commitments and (ii) declare the Loans then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the Loans so declared to be due and payable, together with accrued interest
thereon and any unpaid accrued fees and all other liabilities of the Borrower accrued hereunder and under any other Loan Document, shall become forthwith due and payable, without presentment, demand, protest or any other notice of any kind, all of
which are hereby expressly waived by the Borrower, anything contained herein or in any other Loan Document to the contrary notwithstanding; and in any event with respect to the Borrower described in paragraph (g) or (h) above, the
Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and any unpaid accrued fees and all other liabilities of the Borrower accrued hereunder and under any other Loan
Document, shall automatically become due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein or in any other Loan Document to the
contrary notwithstanding. 
 ARTICLE VIII 
 The Administrative Agent and the Collateral Agent 
 The Lenders hereby irrevocably appoint the Administrative Agent and the
Collateral Agent (for purposes of this Article VIII, the Administrative Agent and the Collateral Agent are referred to collectively as the “Agents”) its agent and authorizes the Agents to take such actions on its behalf and
to exercise such powers as are delegated to such Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. Without limiting the generality of the foregoing, the Agents are hereby expressly
authorized to execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the Security
Documents. The Lenders acknowledge and agree that the Collateral Agent shall also act, subject to and in accordance with the terms of the Intercreditor Agreement, as the collateral agent for the lenders under the First Lien Facilities. 

The bank serving as the Administrative Agent and/or the Collateral Agent hereunder shall have the same rights and powers in its capacity as a Lender
as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other
Affiliate thereof as if it were not an Agent hereunder. 
  

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 Neither Agent shall have any duties or obligations except those expressly set forth in the Loan
Documents. Without limiting the generality of the foregoing, (a) neither Agent shall be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) neither Agent shall have any duty
to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that such Agent is instructed in writing to exercise by the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08), and (c) except as expressly set forth in the Loan Documents, neither Agent shall have any duty to disclose, nor shall it be liable for
the failure to disclose, any information relating to the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent and/or Collateral Agent or any of its Affiliates in any capacity. Neither
Agent shall be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 9.08) or in the absence of its own gross negligence or wilful misconduct. Neither Agent shall be deemed to have knowledge of any Default unless and until written notice thereof is given to such Agent by the Borrower or a Lender, and
neither Agent shall be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other
document delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness
or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to
be delivered to such Agent. 
 Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice,
request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper person. Each Agent may also rely upon any statement made to it orally or by telephone and
believed by it to have been made by the proper person, and shall not incur any liability for relying thereon. Each Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it,
and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 
 Each Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by it. Each Agent and any such sub-agent may perform any and all its duties and exercise its rights and
powers by or through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of each Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facility provided for herein as well as activities as Agent. 
 Subject to the
appointment and acceptance of a successor Agent as provided below, either Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such 
  

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 resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor. If no
successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may, on behalf of the Lenders, appoint a
successor Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Agent shall be the same as those payable to its
predecessor unless otherwise agreed between the Borrower and such successor. After an Agent’s resignation hereunder, the provisions of this Article and Section 9.05 shall continue in effect for the benefit of such retiring Agent, its
sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while acting as Agent. 
 Each Lender acknowledges that it has, independently and without reliance upon the Agents or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agents or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own
decisions in taking or not taking action under or based upon this Agreement or any other Loan Document, any related agreement or any document furnished hereunder or thereunder. 
 ARTICLE IX 
 Miscellaneous 
 SECTION 9.01. Notices. Notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by fax, as follows: 
 (a) if to the Borrower, to it at 4600
Post Oak Place, Suite 200, Houston, TX 77027, Attention of Chief Financial Officer (Fax No. (713) 622-5101, with a copy to Jackson Walker L.L.P. at 1401 McKinney, Suite 1900, Houston, Texas 77010, Attention of David G. Dunlap (Fax No.
(713) 308-4101); 
 (b) if to the Administrative Agent, to Credit Suisse, Eleven Madison Avenue, New York, NY 10010,
Attention of Agency Group (Fax No. (212) 325-8304); and 
 (c) if to a Lender, to it at its address (or fax number) set
forth on Schedule 2.01 or in the Assignment and Acceptance pursuant to which such Lender shall have become a party hereto. 
 All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered by hand or overnight courier service or sent by fax or on the date five Business Days
after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed 
  

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 (properly addressed) to such party as provided in this Section 9.01 or in accordance with the latest unrevoked
direction from such party given in accordance with this Section 9.01. As agreed to among the Borrower, the Administrative Agent and the applicable Lenders from time to time, notices and other communications may also be delivered by e-mail to
the e-mail address of a representative of the applicable person provided from time to time by such person. 
 SECTION 9.02. Survival of
Agreement. All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall
be considered to have been relied upon by the Lenders and shall survive the making by the Lenders of the Loans, regardless of any investigation made by the Lenders or on their behalf, and shall continue in full force and effect as long as the
principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement or any other Loan Document is outstanding and unpaid and so long as the Commitments have not been terminated. The provisions of
Sections 2.14, 2.16, 2.20 and 9.05 shall remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the
expiration of the Commitments, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent, the Collateral Agent or any Lender.

 SECTION 9.03. Binding Effect. This Agreement shall become effective when it shall have been executed by the Borrower and the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto. 
 SECTION 9.04. Successors and Assigns. (a) Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed
to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrower, the Administrative Agent, the Collateral Agent or the Lenders that are contained in this Agreement shall bind
and inure to the benefit of their respective successors and assigns. 
 (b) Each Lender may assign to one or more assignees all or a portion
of its interests, rights and obligations under this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it), with the prior written consent of the Administrative Agent (not to be unreasonably withheld or
delayed); provided, however, that (i) the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to
the Administrative Agent on an aggregate basis in the event of concurrent assignments to Related Funds) shall not be less than $1,000,000 (or, if less, the entire remaining amount of such Lender’s Commitment or Loans), (ii) the parties to
each such assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance via an electronic settlement system acceptable to the Administrative Agent (or, if previously agreed with the Administrative Agent, manually),
and shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative Agent); provided that only one such fee shall be payable in the case of
concurrent assignments to two or more Related Funds, and (iii) the assignee, if it shall not be a Lender, shall deliver to the 
  

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 Administrative Agent an Administrative Questionnaire and all applicable tax forms. Upon acceptance and recording pursuant
to paragraph (e) of this Section 9.04, from and after the effective date specified in each Assignment and Acceptance, (A) the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment
and Acceptance, have the rights and obligations of a Lender under this Agreement and (B) the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under
this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be
entitled to the benefits of Sections 2.14, 2.16, 2.20 and 9.05, as well as to any amounts accrued for its account and not yet paid). 
 (c)
By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the assignee thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (i) such assigning Lender
warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and that its Commitment and the outstanding balances of its Loans, in each case without giving effect to assignments
thereof which have not become effective, are as set forth in such Assignment and Acceptance, (ii) except as set forth in (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any other Loan Document or any other instrument or
document furnished pursuant hereto, or the financial condition of the Borrower or any Subsidiary or the performance or observance by the Borrower or any Subsidiary of any of its obligations under this Agreement, any other Loan Document or any other
instrument or document furnished pursuant hereto; (iii) such assignee represents and warrants that it is legally authorized to enter into such Assignment and Acceptance; (iv) such assignee confirms that it has received a copy of this
Agreement, together with copies of the most recent financial statements referred to in Section 3.05 or delivered pursuant to Section 5.04, the Intercreditor Agreement and such other documents and information as it has deemed appropriate to
make its own credit analysis and decision to enter into such Assignment and Acceptance; (v) such assignee will independently and without reliance upon the Administrative Agent, the Collateral Agent, such assigning Lender or any other Lender and
based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (vi) such assignee agrees that it shall be bound by the terms of
the Intercreditor Agreement; (vii) such assignee appoints and authorizes the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the
Administrative Agent and the Collateral Agent, respectively, by the terms hereof, together with such powers as are reasonably incidental thereto; and (viii) such assignee agrees that it will perform in accordance with their terms all the
obligations which by the terms of this Agreement are required to be performed by it as a Lender. 
 (d) The Administrative Agent, acting for
this purpose as an agent of the Borrower, shall maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the
Commitment of, and principal amount of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall 
  

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 be conclusive absent manifest error and the Borrower, the Administrative Agent, the Collateral Agent and the Lenders may
treat each person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower,
the Collateral Agent and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (e) Upon its receipt of,
and consent to, a duly completed Assignment and Acceptance executed by an assigning Lender and an assignee, an Administrative Questionnaire completed in respect of the assignee (unless the assignee shall already be a Lender hereunder), the
processing and recordation fee referred to in paragraph (b) above, if applicable, and any applicable tax forms, the Administrative Agent shall (i) accept such Assignment and Acceptance and (ii) record the information contained therein
in the Register. No assignment shall be effective unless it has been recorded in the Register as provided in this paragraph (e). 
 (f)
Each Lender may without the consent of the Administrative Agent sell participations to one or more banks or other entities in all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the
Loans owing to it); provided, however, that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations, (iii) the participating banks or other entities shall be entitled to the benefit of the cost protection provisions contained in Sections 2.14, 2.16 and 2.20 to the same extent as if they were Lenders (but, with respect to any
particular participant, to no greater extent than the Lender that sold the participation to such participant) and (iv) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement, and such Lender shall retain the sole right to enforce the obligations of the Borrower relating to the Loans owing to it and to approve any amendment, modification or
waiver of any provision of this Agreement (other than amendments, modifications or waivers decreasing any fees payable hereunder the amount of principal of or the rate at which interest is payable on the Loans, extending any scheduled principal
payment date or date fixed for the payment of interest on the Loans, increasing or extending the Commitments or releasing any Guarantor (other than in connection with a transaction permitted hereunder) or all or substantially all of the Collateral).

 (g) Any Lender or participant may, in connection with any assignment or participation or proposed assignment or participation pursuant to
this Section 9.04, disclose to the assignee or participant or proposed assignee or participant any information relating to the Borrower furnished to such Lender by or on behalf of the Borrower; provided that, prior to any such disclosure
of information designated by the Borrower as confidential, each such assignee or participant or proposed assignee or participant shall execute an agreement whereby such assignee or participant shall agree (subject to customary exceptions) to
preserve the confidentiality of such confidential information on terms no less restrictive than those applicable to the Lenders pursuant to Section 9.16. 
 (h) Any Lender may at any time assign all or any portion of its rights under this Agreement to secure extensions of credit to such Lender or in support of obligations owed by such Lender; provided that no such
assignment shall release a Lender from any of its obligations hereunder or substitute any such assignee for such Lender as a party hereto. 
  

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 (i) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle (an “SPC”), identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to provide to
the Borrower all or any part of any Loan that such Granting Lender would otherwise be obligated to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to make any
Loan and (ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPC
hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or similar payment obligation
under this Agreement (all liability for which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is
one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any other person in instituting against, such SPC any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under the laws of the United States or any State thereof. In addition, notwithstanding anything to the contrary contained in this Section 9.04, any SPC may (i) with notice to, but without
the prior written consent of, the Borrower and the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Loans to the Granting Lender or to any financial institutions (consented to by
the Borrower and Administrative Agent) providing liquidity and/or credit support to or for the account of such SPC to support the funding or maintenance of Loans and (ii) disclose on a confidential basis any non-public information relating to
its Loans to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPC. 
 (j) The Borrower shall not assign or delegate any of its rights or duties hereunder without the prior written consent of the Administrative Agent and each Lender, and any attempted assignment without such consent shall be null and void.

 SECTION 9.05. Expenses; Indemnity. (a) The Borrower agrees to pay all reasonable out-of-pocket expenses incurred by the
Administrative Agent and the Collateral Agent in connection with the syndication of the credit facilities provided for herein and the preparation and administration of this Agreement and the other Loan Documents or in connection with any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions hereby or thereby contemplated shall be consummated) or incurred by the Administrative Agent, the Collateral Agent or any Lender in connection with the
enforcement or protection of its rights in connection with this Agreement and the other Loan Documents or in connection with the Loans made hereunder, including the fees, charges and disbursements of Cravath, Swaine & Moore LLP, counsel for
the Administrative Agent and the Collateral Agent, and, in connection with any such enforcement or protection, the fees, charges and disbursements of any other counsel for the Administrative Agent, the Collateral Agent or any Lender. 
  

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 (b) The Borrower agrees to indemnify the Administrative Agent, the Collateral Agent, each Lender and each
Related Party of any of the foregoing persons (each such person being called an “Indemnitee”) against, and to hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses,
including reasonable counsel fees, charges and disbursements, incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a result of (i) the execution or delivery of this Agreement or any other Loan Document
or any agreement or instrument contemplated thereby, the performance by the parties thereto of their respective obligations thereunder or the consummation of the Transactions and the other transactions contemplated thereby (including the syndication
of the credit facilities provided for herein), (ii) the use of the proceeds of the Loans, (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto (and
regardless of whether such matter is initiated by a third party or by the Borrower, any other Loan Party or any of their respective Affiliates), or (iv) any actual or alleged presence or Release of Hazardous Materials on any property currently
or formerly owned or operated by the Borrower or any of the Subsidiaries, or any Environmental Liability related in any way to the Borrower or the Subsidiaries; provided that such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or wilful misconduct of such Indemnitee.

 (c) To the extent that the Borrower fails to pay any amount required to be paid by it to the Administrative Agent or the Collateral Agent
under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent or the Collateral Agent, as the case may be, such Lender’s pro rata share (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the
Administrative Agent or the Collateral Agent in its capacity as such. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the outstanding Loans and unused Commitments at the time. 

(d) To the extent permitted by applicable law, the Borrower shall not assert, and it hereby waives, any claim against any Indemnitee, on any theory of
liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions,
any Loan or the use of the proceeds thereof. 
 (e) The provisions of this Section 9.05 shall remain operative and in full force and
effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the invalidity or unenforceability of any term or
provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent, the Collateral Agent or any Lender. All amounts due under this Section 9.05 shall be payable on written demand
therefor. 
 SECTION 9.06. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender is hereby
authorized at any time and from time to time, except to the extent prohibited by law, to set off and apply any and all deposits (general or special, time or 
  

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 demand, provisional or final) at any time held and other indebtedness at any time owing by such Lender to or for the
credit or the account of the Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement and the other Loan Documents held by such Lender, irrespective of whether or not such Lender shall have made
any demand under this Agreement or such other Loan Document and although such obligations may be unmatured. The rights of each Lender under this Section 9.06 are in addition to other rights and remedies (including other rights of setoff) which
such Lender may have. 
 SECTION 9.07. Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH
IN OTHER LOAN DOCUMENTS OR TO EXTENT THE LAWS OF ANOTHER JURISDICTION MANDATORILY GOVERN ANY LOAN DOCUMENT) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 9.08. Waivers; Amendment. (a) No failure or delay of the Administrative Agent, the Collateral Agent or any Lender in exercising any
power or right hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Collateral Agent and the Lenders hereunder and under the other Loan Documents are cumulative and are
not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by the Borrower or any other Loan Party therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on the Borrower in any case shall
entitle the Borrower to any other or further notice or demand in similar or other circumstances, except as expressly provided in this Agreement or any other Loan Document. 
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered
into by the Borrower and the Required Lenders; provided, however, that no such agreement shall (i) decrease the principal amount of, or extend the maturity of or any scheduled principal payment date or date for the payment of any
interest on any Loan, or waive or excuse any such payment or any part thereof, or decrease the rate of interest on any Loan, or waive or excuse the payment of (or extend the date for payment of) any prepayment fee, or reduce the amount thereof,
without the prior written consent of each Lender affected thereby, (ii) increase or extend the Commitment of any Lender without the prior written consent of such Lender, (iii) amend or modify the pro rata requirements of Section 2.17,
the provisions of Section 9.04(j) or the provisions of this Section, or release any Guarantor (other than in connection with a transaction permitted hereunder) or all or substantially all of the Collateral, without the prior written consent of
each Lender, (iv) modify the protections afforded to an SPC pursuant to the provisions of Section 9.04(i) without the written consent of such SPC, or (v) reduce the percentage contained in the definition of the term “Required
Lenders” without the prior written consent of each Lender (it being understood that with the consent of the Required Lenders, additional extensions of credit pursuant to this Agreement may be included in the determination of the Required
Lenders on substantially the 
  

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 same basis as the Commitments on the date hereof); provided further that no such agreement shall amend, modify or
otherwise affect the rights or duties of the Administrative Agent or the Collateral Agent hereunder or under any other Loan Document without the prior written consent of the Administrative Agent or the Collateral Agent. 
 SECTION 9.09. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan,
together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”)
which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect
thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section 9.09 shall be cumulated and
the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the
date of repayment, shall have been received by such Lender. 
 SECTION 9.10. Entire Agreement. This Agreement, the Fee Letter and the
other Loan Documents constitute the entire contract between the parties relative to the subject matter hereof. Any other previous agreement among the parties with respect to the subject matter hereof is superseded by this Agreement, the Fee Letter
and the other Loan Documents. Nothing in this Agreement or in the other Loan Documents, expressed or implied, is intended to confer upon any person (other than the parties hereto and thereto, their respective successors and assigns permitted
hereunder and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent and the Lenders) any rights, remedies, obligations or liabilities under or by reason of this Agreement or the
other Loan Documents. 
 SECTION 9.11. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.11. 
 SECTION 9.12. Severability. In the event any one or more of the provisions contained in this Agreement or in any other Loan Document should be
held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby (it being understood that the invalidity
of a particular provision in a particular jurisdiction shall not in and 
  

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 of itself affect the validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith
negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 9.13. Counterparts. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of
which shall constitute an original but all of which when taken together shall constitute a single contract, and shall become effective as provided in Section 9.03. Delivery of an executed signature page to this Agreement by facsimile
transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 9.14. Headings. Article
and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement.

 SECTION 9.15. Jurisdiction; Consent to Service of Process. (a) The Borrower hereby irrevocably and unconditionally submits,
for itself and its property, to the exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or
relating to this Agreement or the other Loan Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may
be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative Agent, the Collateral Agent or any Lender may otherwise have to bring any action or proceeding
relating to this Agreement or the other Loan Documents against the Borrower or its properties in the courts of any jurisdiction. 
 (b) The
Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating
to this Agreement or the other Loan Documents in any New York State or Federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such
action or proceeding in any such court. 
 (c) Each party to this Agreement irrevocably consents to service of process in the manner provided
for notices in Section 9.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law; provided that notice of the use of any such alternative means of service
shall be provided to each affected party in the manner provided in Section 9.01. 
 SECTION 9.16. Confidentiality. Each of the
Administrative Agent, the Collateral Agent and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ officers, directors, employees
and agents, including accountants, legal counsel and other advisors (it being 
  

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 understood that the persons to whom such disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority or quasi-regulatory authority (such as the National Association of Insurance Commissioners), (c) to the extent
required by applicable laws or regulations or by any subpoena or similar legal process, (d) in connection with the exercise of any remedies hereunder or under the other Loan Documents or any suit, action or proceeding relating to the
enforcement of its rights hereunder or thereunder, (e) subject to an agreement containing provisions substantially the same as those of this Section 9.16, to (i) any actual or prospective assignee of or participant in any of its
rights or obligations under this Agreement and the other Loan Documents or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower or any Subsidiary or any of their respective
obligations, (f) with the consent of the Borrower or (g) to the extent such Information becomes publicly available other than as a result of a breach of this Section 9.16. For the purposes of this Section,
“Information” shall mean all information received from the Borrower and related to the Borrower or its business, other than any such information that was available to the Administrative Agent, the Collateral Agent or any
Lender on a nonconfidential basis prior to its disclosure by the Borrower; provided that, in the case of Information received from the Borrower after the date hereof, such information is clearly identified at the time of delivery as
confidential. Any person required to maintain the confidentiality of Information as provided in this Section 9.16 shall be considered to have complied with its obligation to do so if such person has exercised the same degree of care to maintain
the confidentiality of such Information as such person would accord its own confidential information. 
 SECTION 9.17. USA Patriot Act
Notice. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that
identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the USA Patriot Act.

 SECTION 9.18. Parallel Debt. (a) Notwithstanding anything to the contrary contained in this Agreement and the other Loan
Documents and solely for the purpose of ensuring and preserving the validity and effect of the security rights granted and to be granted under or pursuant to the Security Documents governed by the laws of The Netherlands (the “Dutch
Security Agreements”), each of the Lenders and the other parties hereto hereby acknowledges and consents to (i) each Loan Party that is party to the Dutch Security Agreements undertaking herein to pay to the Collateral Agent, in
its individual capacity and not as agent, representative or trustee, as a separate independent obligation to the Collateral Agent, the amount of its Dutch Parallel Debt (which each such Loan Party hereby so undertakes to do), and (ii) the
security rights contemplated by the Dutch Security Agreements being granted in favor of the Collateral Agent in its individual capacity as security for its claims under the Dutch Parallel Debt. 
 (b) Each Loan Party acknowledges and agrees that it may not pay its Dutch Parallel Debt other than at the instruction of, and in the manner instructed
by, the Collateral Agent; provided, however, that no Loan Party shall be obligated to pay any amount of its Dutch Parallel Debt unless and until a corresponding amount of its Underlying Debt Obligations shall have become due and
payable. 
  

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 (c) To the extent any amount is paid to and received by the Collateral Agent in payment of the Dutch
Parallel Debt and the Collateral Agent has turned over any amounts received by it in respect to the Dutch Parallel Debt to the Lenders as their interests appeared with respect to the Underlying Debt Obligations, the total amount due and payable in
respect of the Underlying Debt Obligations shall be decreased as if such amount were received by the Lenders or any of them in payment of the corresponding Underlying Debt Obligations. 
 SECTION 9.19. INTERCREDITOR AGREEMENT. EACH LENDER HEREUNDER (A) ACKNOWLEDGES THAT IT HAS RECEIVED A COPY OF THE INTERCREDITOR AGREEMENT,
(B) CONSENTS TO THE SUBORDINATION OF LIENS PROVIDED FOR IN THE INTERCREDITOR AGREEMENT, (C) AGREES THAT IT WILL BE BOUND BY AND WILL TAKE NO ACTIONS CONTRARY TO THE PROVISIONS OF THE INTERCREDITOR AGREEMENT AND (D) AUTHORIZES AND
INSTRUCTS THE ADMINISTRATIVE AGENT TO ENTER INTO THE INTERCREDITOR AGREEMENT AS SECOND LIEN COLLATERAL AGENT AND ON BEHALF OF SUCH LENDER. THE FOREGOING PROVISIONS ARE INTENDED AS AN INDUCEMENT TO THE LENDERS UNDER THE FIRST LIEN CREDIT AGREEMENT TO
EXTEND (AND AS FURTHER CONSIDERATION FOR HAVING EXTENDED) CREDIT TO THE BORROWER AND SUCH LENDERS ARE INTENDED THIRD PARTY BENEFICIARIES OF SUCH PROVISIONS. 
 [Remainder of page intentionally left blank] 
  

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

			
	ATP OIL & GAS CORPORATION,
		
	by	 	 /s/ T. Paul Bulmahn

	Name:	 	T. Paul Bulmahn
	Title:	 	President
	
	CREDIT SUISSE, CAYMAN ISLANDS BRANCH, individually and as Administrative Agent and Collateral Agent,
		
	by	 	 /s/ James Moran

	Name:	 	James Moran
	Title:	 	Managing Director
		
	by	 	 /s/ Nupur Kumar

	Name:	 	Nupur Kumar
	Title:	 	Associate

 [Second Lien Credit Agreement]

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