Document:

EX-4.17

 Exhibit 4.17 

FINAL FORM 
  

INDENTURE AND SECURITY AGREEMENT 

([Reg. No.]) 
 Dated as of
                    , 20    1 

between 
 SPIRIT AIRLINES, INC.,

 and 
 WILMINGTON TRUST,
NATIONAL ASSOCIATION, 
 as Loan Trustee 

One Airbus [Model] 
 (Generic
Manufacturer and Model Airbus [Generic Model]) Aircraft 
 U.S. Registration No. [Reg. No.] 

 
  

 

	1 	To insert the relevant Closing Date. 

  

					
		  		  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

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 Table of Contents 

 

							
	 	  	 	  	Page	 
	 ARTICLE I DEFINITIONS 
	  	 	5	 
			
	 Section 1.01
	  	Definitions	  	 	5	 
	 Section 1.02
	  	Other Definitional Provisions	  	 	5	 
		
	 ARTICLE II THE EQUIPMENT NOTES 
	  	 	6	 
			
	 Section 2.01
	  	Form of Equipment Notes	  	 	6	 
	 Section 2.02
	  	Issuance and Terms of Equipment Notes	  	 	12	 
	 Section 2.03
	  	Method of Payment	  	 	14	 
	 Section 2.04
	  	Withholding Taxes	  	 	15	 
	 Section 2.05
	  	Application of Payments	  	 	16	 
	 Section 2.06
	  	Termination of Interest in Collateral	  	 	16	 
	 Section 2.07
	  	Registration, Transfer and Exchange of Equipment Notes	  	 	16	 
	 Section 2.08
	  	Mutilated, Destroyed, Lost or Stolen Equipment Notes	  	 	18	 
	 Section 2.09
	  	Payment of Expenses on Transfer; Cancellation	  	 	18	 
	 Section 2.10
	  	Mandatory Redemption of Equipment Notes	  	 	19	 
	 Section 2.11
	  	Voluntary Redemption of Equipment Notes	  	 	19	 
	 Section 2.12
	  	Redemptions; Notice of Redemptions; Repurchases	  	 	20	 
	 Section 2.13
	  	Subordination	  	 	21	 
	 Section 2.14
	  	Certain Payments	  	 	23	 
	 Section 2.15
	  	Repayment of Monies for Equipment Note Payments Held by the Loan Trustee	  	 	25	 
	 Section 2.16
	  	Directions by the Subordination Agent	  	 	26	 
		
	 ARTICLE III RECEIPT, DISTRIBUTION AND APPLICATION OF INCOME FROM THE COLLATERAL

	  	 	26	 
			
	 Section 3.01
	  	Basic Distributions	  	 	26	 
	 Section 3.02
	  	Event of Loss; Optional Redemption	  	 	28	 
	 Section 3.03
	  	Payments After Event of Default	  	 	29	 
	 Section 3.04
	  	Certain Payments	  	 	35	 
	 Section 3.05
	  	Payments to the Company	  	 	36	 
	 Section 3.06
	  	Cooperation	  	 	36	 
	 Section 3.07
	  	Securities Account	  	 	36	 
		
	 ARTICLE IV EVENTS OF DEFAULT; REMEDIES OF THE LOAN TRUSTEE
	  	 	37	 
			
	 Section 4.01
	  	Events of Default	  	 	37	 
	 Section 4.02
	  	Remedies	  	 	39	 
	 Section 4.03
	  	Remedies Cumulative	  	 	44	 

  

					
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 Table of Contents 

(Continued) 

							
	 	  	 	  	Page	 
	 Section 4.04
	  	Discontinuance of Proceedings	  	 	44	 
	 Section 4.05
	  	Waiver of Past Defaults	  	 	44	 
	 Section 4.06
	  	Noteholders May Not Bring Suit Except Under Certain Conditions	  	 	44	 
	 Section 4.07
	  	Appointment of a Receiver	  	 	45	 
		
	ARTICLE V DUTIES OF THE LOAN TRUSTEE 	  	46	 
			
	 Section 5.01
	  	Notice of Event of Default	  	 	46	 
	 Section 5.02
	  	Action upon Instructions; Certain Rights and Limitations	  	 	47	 
	 Section 5.03
	  	Indemnification	  	 	47	 
	 Section 5.04
	  	No Duties Except as Specified in Indenture or Instructions	  	 	47	 
	 Section 5.05
	  	No Action Except under Indenture or Instructions	  	 	47	 
	 Section 5.06
	  	Investment of Amounts Held by the Loan Trustee	  	 	48	 
		
	ARTICLE VI THE LOAN TRUSTEE 	  	49	 
			
	 Section 6.01
	  	Acceptance of Trusts and Duties	  	 	49	 
	 Section 6.02
	  	Absence of Certain Duties	  	 	49	 
	 Section 6.03
	  	No Representations or Warranties as to the Documents	  	 	49	 
	 Section 6.04
	  	No Segregation of Monies; No Interest	  	 	50	 
	 Section 6.05
	  	Reliance; Agents; Advice of Counsel	  	 	50	 
	 Section 6.06
	  	Instructions from Noteholders	  	 	51	 
		
	ARTICLE VII OPERATING COVENANTS OF THE COMPANY	  	51	 
			
	 Section 7.01
	  	Liens	  	 	51	 
	 Section 7.02
	  	Possession, Operation and Use, Maintenance and Registration	  	 	52	 
	 Section 7.03
	  	Inspection; Financial Information	  	 	60	 
	 Section 7.04
	  	Replacement and Pooling of Parts; Alterations, Modifications and Additions; Substitution of Airframe and Engines	  	 	62	 
	 Section 7.05
	  	Loss, Destruction or Requisition	  	 	66	 
	 Section 7.06
	  	Insurance	  	 	72	 
		
	ARTICLE VIII SUCCESSOR AND ADDITIONAL TRUSTEES 	  	80	 
			
	 Section 8.01
	  	Resignation or Removal; Appointment of Successor	  	 	80	 
	 Section 8.02
	  	Appointment of Additional and Separate Trustees	  	 	82	 
		
	ARTICLE IX AMENDMENTS AND WAIVERS 	  	83	 
			
	 Section 9.01
	  	Amendments to this Indenture without Consent of Holders	  	 	83	 
	 Section 9.02
	  	Amendments to this Indenture with Consent of Holders	  	 	85	 
	 Section 9.03
	  	Amendments, Waivers, Etc. of the Participation Agreement	  	 	87	 

  

					
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 Table of Contents 

(Continued) 

							
	 	  	 	  	Page	 
	 Section 9.04
	  	Revocation and Effect of Consents	  	 	87	 
	 Section 9.05
	  	Notation on or Exchange of Equipment Notes	  	 	87	 
	 Section 9.06
	  	Trustee Protected	  	 	88	 
	 Section 9.07
	  	No Consent of Individual Indenture Indemnitees Required	  	 	88	 
		
	 ARTICLE X MISCELLANEOUS 
	  	 	88	 
			
	 Section 10.01
	  	Termination of Indenture	  	 	88	 
	 Section 10.02
	  	No Legal Title to Collateral in Noteholders	  	 	89	 
	 Section 10.03
	  	Sale of Aircraft by the Loan Trustee is Binding	  	 	89	 
	 Section 10.04
	  	Indenture for Benefit of the Company, the Loan Trustee and Noteholders	  	 	89	 
	 Section 10.05
	  	Notices	  	 	89	 
	 Section 10.06
	  	Severability	  	 	90	 
	 Section 10.07
	  	No Oral Modification or Continuing Waivers	  	 	91	 
	 Section 10.08
	  	Successors and Assigns	  	 	91	 
	 Section 10.09
	  	Headings	  	 	91	 
	 Section 10.10
	  	Normal Commercial Relations	  	 	91	 
	 Section 10.11
	  	Voting by Noteholders	  	 	91	 
	 Section 10.12
	  	Section 1110	  	 	92	 
	 Section 10.13
	  	The Company’s Performance and Rights	  	 	92	 
	 Section 10.14
	  	Counterparts	  	 	92	 
	 Section 10.15
	  	Governing Law	  	 	92	 
	 Section 10.16
	  	Confidential Information	  	 	92	 
	 Section 10.17
	  	Submission to Jurisdiction	  	 	93	 

  

			
	Exhibit A	  	Form of Indenture Supplement
	Exhibit B	  	List of Permitted Countries
	Exhibit C	  	Certain Terms
		
	Schedule I	  	Description of Equipment Notes
	Schedule II	  	Pass Through Trust Agreement and Pass Through Trust Supplements
		
	Annex A	  	Definitions

  

					
		  	iii	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

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 INDENTURE AND SECURITY AGREEMENT 

([REG. NO.]) 
 This
INDENTURE AND SECURITY AGREEMENT ([REG. NO.]), dated as of                     , 20    2, is made by and between SPIRIT AIRLINES, INC., a Delaware corporation (together with its successors and permitted assigns, the “Company”), and WILMINGTON TRUST, NATIONAL ASSOCIATION,
a national banking association, not in its individual capacity, except as expressly stated herein, but solely as Loan Trustee hereunder (together with its permitted successors hereunder, the “Loan Trustee”). 

W I T N E S S E T H: 

WHEREAS, the parties desire by this Indenture (such term and other capitalized terms used herein without definition being defined as provided
in Article I), among other things, to provide for (i) the issuance by the Company of the Equipment Notes specified on Schedule I hereto and one or more Additional Series and (ii) the assignment, mortgage and pledge by the
Company to the Loan Trustee, as part of the Collateral hereunder, among other things, of all of the Company’s estate, right, title and interest in and to the Aircraft, as security for, among other things, the Company’s obligations to the
Loan Trustee, for the equal and proportionate benefit and security of the Noteholders, the Indenture Indemnitees and the Related Indenture Indemnitees, subject to Section 2.13 and Article III; 

WHEREAS, all things have been done to make the Equipment Notes of the Series listed on Schedule I hereto, when executed by the Company and
authenticated and delivered by the Loan Trustee hereunder, the valid, binding and enforceable obligations of the Company; and 
 WHEREAS,
all things necessary to make this Indenture a legal, valid and binding obligation of the Company for the uses and purposes herein set forth, in accordance with its terms, have been done and performed and have occurred; 

GRANTING CLAUSE 
 NOW, THEREFORE,
(x) to secure the prompt and complete payment (whether at stated maturity, by acceleration or otherwise) of principal of, Make-Whole Amount, if 

 

	2 	 To insert the relevant Closing Date. 

  

					
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any, and interest on, the Equipment Notes and all other Secured Obligations payable by the Company under the Operative Documents and the performance and observance by the Company of all the
agreements and covenants to be performed or observed by the Company for the benefit of the Noteholders and the Indenture Indemnitees contained in the Operative Documents and (y) to secure the Related Secured Obligations, and in
consideration of the premises and of the covenants contained in the Operative Documents and the Related Indentures, and for other good and valuable consideration given by the Noteholders, the Indenture Indemnitees and the Related Indenture
Indemnitees to the Company at or before the Closing Date, the receipt and adequacy of which is hereby acknowledged, the Company does hereby grant, bargain, sell, convey, transfer, mortgage, assign, pledge and confirm unto the Loan Trustee and its
successors in trust and permitted assigns, for the security and benefit of the Noteholders, each Indenture Indemnitee and each Related Indenture Indemnitee, a first priority security interest in, and mortgage lien on, all estate, right, title and
interest of the Company in, to and under, all and singular, the following described properties, rights, interests and privileges, whether now owned or hereafter acquired (which, collectively, together with all property hereafter specifically subject
to the Lien of this Indenture by the terms hereof or any supplement hereto, are included within, and are referred to as, the “Collateral”): 

(1) the Aircraft, including the Airframe and the Engines, whether or not any such Engine from time to time is installed on the Airframe or any
other airframe or any other aircraft, and any and all Parts relating thereto, and, to the extent provided herein, all substitutions and replacements of, and additions, improvements, accessions and accumulations to, the Aircraft, including the
Airframe, the Engines and any and all Parts (in each case other than Excluded Equipment) relating thereto (such Airframe and Engines as more particularly described in the Indenture Supplement executed and delivered with respect to the Aircraft on
the Closing Date or with respect to any substitutions or replacements therefor) and together with all logs, manuals, modification and maintenance records at any time required to be maintained with respect to the Aircraft in accordance with the rules
and regulations of the FAA if the Aircraft is registered under the laws of the United States or the rules and regulations of the government of the country of registry if the Aircraft is registered under the laws of a jurisdiction other than the
United States; 
 (2) all requisition proceeds with respect to the Aircraft or any Part thereof, and all insurance proceeds with respect to
the Aircraft or any Part thereof, but excluding all proceeds of, and rights under, any insurance maintained by the Company and not required, or in excess of that required, under Section 7.06(b); 

(3) all moneys and securities held by the Loan Trustee pursuant to paragraph (ix) of clause “third” of Section 3.03, all
rents, revenues and other proceeds collected by 

  

					
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the Loan Trustee pursuant to Section 4.02(a), all moneys and securities from time to time paid or deposited or required to be paid or deposited to or with the Loan Trustee by or for the
account of the Company pursuant to any term of any Operative Document and held or required to be held by the Loan Trustee hereunder or thereunder, including the Securities Account and all monies and securities deposited into the Securities Account;
and 
 (4) all proceeds of the foregoing; 

PROVIDED, HOWEVER, that notwithstanding any of the foregoing provisions, so long as no Event of Default shall have occurred and be continuing,
the Company shall have the right, to the exclusion of the Loan Trustee, (i) to quiet enjoyment of the Aircraft, the Airframe, the Parts and the Engines, and to possess, use, retain and control the Aircraft, the Airframe, the Parts and
the Engines and all revenues, income and profits derived therefrom and (ii) with respect to the Airframe Warranties Agreement, to exercise in the Company’s name all rights and powers of the Company in its capacity as “Entitled
Party” under the Airframe Warranties Agreement and to retain any recovery or benefit resulting from the enforcement of any warranty or indemnity or other obligation under the Airframe Warranties Agreement; 

TO HAVE AND TO HOLD all and singular the aforesaid property unto the Loan Trustee, and its successors and permitted assigns, in trust for the
equal and proportionate benefit and security of the Noteholders, the Indenture Indemnitees and the Related Indenture Indemnitees, except as otherwise provided in this Indenture, including Section 2.13 and Article III, without any priority of
any one Equipment Note over any other, or any Related Equipment Note over any other, by reason of priority of time of issue, sale, negotiation, date of maturity thereof or otherwise for any reason whatsoever, and for the uses and purposes and in all
cases and as to all property specified in paragraphs (1) through (4) inclusive above, subject to the terms and provisions set forth in this Indenture. 

It is expressly agreed that notwithstanding anything herein to the contrary, the Company shall remain liable under the Purchase Agreement to
perform all of its obligations thereunder, and, except to the extent expressly provided in any Operative Document, none of the Loan Trustee, any Noteholder, any other Indenture Indemnitee or any Related Indenture Indemnitee shall be required or
obligated in any manner to perform or fulfill any obligations of the Company under or pursuant to any Operative Document, or have any obligation or liability under the Purchase Agreement by reason of or arising out of the assignment hereunder, or to
make any inquiry as to the nature or sufficiency of any payment received by it, or present or file any claim or take any action 

  

					
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to collect or enforce the payment of any amount that may have been assigned to it or to which it may be entitled at any time or times. 

Subject to the terms and conditions hereof, the Company does hereby irrevocably constitute the Loan Trustee the true and lawful attorney of
the Company (which appointment is coupled with an interest) with full power (in the name of the Company or otherwise) to ask for, require, demand and receive any and all monies and claims for monies (in each case including insurance and requisition
proceeds) due and to become due to the Company under or arising out of the Purchase Agreement (to the extent assigned hereby), and all other property which now or hereafter constitutes part of the Collateral, to endorse any checks or other
instruments or orders in connection therewith and to file any claims or to take any action or to institute any proceedings which the Loan Trustee may deem to be necessary or advisable in the premises; provided that the Loan Trustee shall not
exercise any such rights except during the continuance of an Event of Default. The Company agrees that, promptly upon receipt thereof, to the extent required by the Operative Documents, it will transfer to the Loan Trustee any and all monies from
time to time received by the Company constituting part of the Collateral, for distribution by the Loan Trustee pursuant to this Indenture. 

The Company does hereby warrant and represent that it has not sold, assigned or pledged, and hereby covenants and agrees that it will not
sell, assign or pledge, so long as this Indenture shall remain in effect and the Lien hereof shall not have been released pursuant to the provisions hereof, any of its estate, right, title or interest hereby assigned, to any Person other than the
Loan Trustee, except as otherwise provided in or permitted by any Operative Document. 
 The Company agrees that at any time and from time
to time, upon the written request of the Loan Trustee, the Company shall promptly and duly execute and deliver or cause to be duly executed and delivered any and all such further instruments and documents as the Loan Trustee may reasonably deem
necessary to perfect, preserve or protect the mortgage, security interests and assignments created or intended to be created hereby or to obtain for the Loan Trustee the full benefit of the assignment hereunder and of the rights and powers herein
granted; provided that any instrument or other document so executed by the Company will not expand any obligations or limit any rights of the Company in respect of the transactions contemplated by the Operative Documents. 

IT IS HEREBY COVENANTED AND AGREED by and between the parties hereto as follows: 

  

					
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 ARTICLE I 

Definitions 

Section 1.01 Definitions. For all purposes of this Indenture, unless the context otherwise requires, capitalized terms used but
not defined herein have the respective meanings set forth or incorporated by reference in Annex A. 
 Section 1.02 Other
Definitional Provisions. 
 (a) The definitions stated herein and in Annex A apply equally to both the singular and the plural forms of
the terms defined. 
 (b) All references in this Indenture to designated “Articles”, “Sections”, “Subsections”,
“Schedules”, “Exhibits”, “Annexes” and other subdivisions are to the designated Article, Section, Subsection, Schedule, Exhibit, Annex or other subdivision of this Indenture, unless otherwise specifically stated. 

(c) The words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a
whole and not to any particular Article, Section, Subsection, Schedule, Exhibit, Annex or other subdivision. 
 (d) Unless the context
otherwise requires, whenever the words “including”, “include” or “includes” are used herein, they shall be deemed to be followed by the phrase “without limitation”. 

(e) All references in this Indenture to a “government” are to such government and any instrumentality or agency thereof. 

(f) All references in this Indenture to a Person shall include successors and permitted assigns of such Person. 

  

					
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 ARTICLE II 

The Equipment Notes 

Section 2.01 Form of Equipment Notes. The Equipment Notes shall be substantially in the form set forth below: 

THIS EQUIPMENT NOTE HAS NOT BEEN REGISTERED PURSUANT TO THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR PURSUANT TO THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. ACCORDINGLY, THIS EQUIPMENT NOTE MAY NOT BE OFFERED FOR SALE OR SOLD UNLESS EITHER REGISTERED UNDER THE ACT AND SUCH APPLICABLE STATE OR OTHER LAWS OR EXEMPTIONS FROM SUCH
REGISTRATION REQUIREMENTS ARE AVAILABLE. IN ADDITION, THIS EQUIPMENT NOTE IS SUBJECT TO RESTRICTIONS ON TRANSFER PURSUANT TO THE PARTICIPATION AGREEMENT REFERRED TO HEREIN. 

SPIRIT AIRLINES, INC. 
 SERIES 2017-1[    ]-[Reg. No.] 
 EQUIPMENT NOTE DUE [MATURITY DATE] 

ISSUED IN CONNECTION WITH THE AIRBUS MODEL [MODEL] (GENERIC MODEL [GENERIC MODEL]) AIRCRAFT BEARING UNITED STATES REGISTRATION NUMBER [REG.
NO.] 
  

			
	 No.         
	  	Date:                     
		
	 DEBT RATE
	  	MATURITY DATE
	                    	  	                    

 SPIRIT AIRLINES, INC. (together with its successors and permitted assigns, the “Company”)
hereby promises to pay to                     , or the registered assignee thereof, the principal amount of
                                     Dollars
($                    ) [on 

  

					
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        ] 3 [in installments on the Payment Dates
set forth in Schedule I hereto, each such installment to be in an amount computed by multiplying the original principal amount of this Equipment Note by the percentage set forth in Schedule I hereto opposite the Payment Date on which such
installment is due,] 4 and to pay interest in arrears on each Payment Date at the Debt Rate shown above on the principal amount remaining
unpaid from time to time (calculated on the basis of a year of 360 days comprised of twelve 30-day months) from the date hereof, or from the most recent date to which interest hereon has been paid or duly
provided for, until paid in full. [Notwithstanding the foregoing, the final payment made on this Equipment Note shall be in an amount sufficient to discharge in full the unpaid principal amount and all accrued and unpaid interest on, and any other
amounts due under, this Equipment Note.] 5 Notwithstanding anything to the contrary contained herein, if any date on which a payment under this
Equipment Note becomes due and payable is not a Business Day, then such payment shall not be made on such scheduled date but shall be made on the next succeeding Business Day with the same force and effect as if made on such scheduled date, and if
payment is made on such next succeeding Business Day, no interest shall accrue on the amount of such payment from and after such scheduled date. 

For purposes hereof, the term “Indenture” means the Indenture and Security Agreement ([Reg. No.]), dated as of
                    , 20    , between the Company and Wilmington Trust, National Association, as Loan Trustee (the “Loan
Trustee”), as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms. All capitalized terms used in this Equipment Note and not defined herein, unless the context otherwise requires, shall
have the respective meanings set forth or incorporated by reference, and shall be construed and interpreted in the manner described, in the Indenture. 

This Equipment Note shall bear interest, payable on demand, at the Past Due Rate (and not the Debt Rate) (calculated on the basis of a year of
360 days comprised of twelve 30-day months) on any principal amount and (to the extent permitted by applicable law) Make-Whole Amount, if any, interest, and any other amounts payable hereunder not paid when
due for any period during which the same is overdue, in each case for the period the same is overdue. Amounts shall be overdue if not paid in the manner provided herein or in the Indenture when due (whether at stated maturity, by acceleration or
otherwise). 
  

	3 	To be inserted in non-installment Equipment Notes. 

	4 	To be inserted in installment Equipment Notes. 

	5 	To be inserted in installment Equipment Notes. 

  

					
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 There shall be maintained an Equipment Note Register for the purpose of registering transfers and
exchanges of Equipment Notes at the Corporate Trust Office of the Loan Trustee, or at the office of any successor trustee, in the manner provided in Section 2.07 of the Indenture. 

The principal amount and interest and other amounts due hereunder shall be payable in Dollars in immediately available funds at the Corporate
Trust Office of the Loan Trustee, or as otherwise provided in the Indenture. The Company shall not have any responsibility for the distribution of any such payment to the Noteholder of this Equipment Note. Each such payment shall be made on the date
such payment is due and without any presentment or surrender of this Equipment Note, except that in the case of any final payment with respect to this Equipment Note, this Equipment Note shall be surrendered to the Loan Trustee for cancellation.

 The holder hereof, by its acceptance of this Equipment Note, agrees that, except as provided in the Indenture, including the
subordination provisions referred to below, each payment of an installment of principal amount, Make-Whole Amount, if any, and interest received by it hereunder shall be applied: first, to the payment of accrued interest on this Equipment
Note (as well as any interest on (i) any overdue principal amount, and (ii) to the extent permitted by applicable law, any overdue Make-Whole Amount, if any, any overdue interest and any other overdue amounts hereunder) to
the date of such payment; second, to the payment of Make-Whole Amount, if any, with respect to this Equipment Note; third, to the payment of the principal amount of this Equipment Note (or portion thereof) then due hereunder, if any;
and fourth, the balance, if any, remaining thereafter to the payment of installments of the principal amount of this Equipment Note (or portion thereof) remaining unpaid in the inverse order of their maturity. 

This Equipment Note is one of the Equipment Notes referred to in the Indenture which have been or are to be issued by the Company pursuant to
the terms of the Indenture. The Collateral is held by the Loan Trustee as security, in part, for the Equipment Notes. The provisions of this Equipment Note are subject to the Indenture, the Related Indentures, the Participation Agreement, the other
Operative Documents and the Pass Through Documents. Reference is hereby made to the Indenture, the Related Indentures, the Participation Agreement, the other Operative Documents and the Pass Through Documents for a complete statement of the rights
and obligations of the holder of, and the nature and extent of the security for, this Equipment Note (including as a “Related Equipment Note” under each Related Indenture) and the rights and obligations of the holders of, and the nature
and extent of the security for, any other Equipment Notes executed and delivered under the Indenture, to all of which terms and conditions in the Indenture, the Related Indentures, the Participation Agreement, the other Operative

  

					
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Documents and the Pass Through Documents each holder hereof agrees by its acceptance of this Equipment Note. 

As provided in the Indenture and subject to certain limitations therein set forth, this Equipment Note is exchangeable for an equal aggregate
principal amount of Equipment Notes of the same Series of different authorized denominations, as requested by the holder surrendering the same. Prior to the due presentment for registration of transfer of this Equipment Note, the Company and the
Loan Trustee shall deem and treat the Person in whose name this Equipment Note is registered on the Equipment Note Register as the absolute owner and holder hereof for the purpose of receiving all amounts payable with respect to this Equipment Note
and for all purposes, and neither the Company nor the Loan Trustee shall be affected by notice to the contrary. 
 This Equipment Note is
subject to redemption as provided in Sections 2.10, 2.11 and 2.12 of the Indenture but not otherwise. In addition, this Equipment Note may be accelerated as provided in Section 4.02 of the Indenture. 

This Equipment Note is subject to certain restrictions set forth in Sections 4.01(a)(ii) and 4.01(a)(iii) of the Intercreditor Agreement, as
further specified in Section 2.07 of the Indenture, to all of which terms and conditions in the Intercreditor Agreement each holder hereof agrees by its acceptance of this Equipment Note. 

The holder hereof, by its acceptance of this Equipment Note, agrees that no payment or distribution shall be made on or in respect of the
Secured Obligations (as defined in the Indenture) or the Secured Obligations (as defined in any Related Indenture) owed to such holder, including, without limitation, any payment or distribution of cash, property or securities after the occurrence
of any of the events referred to in Section 4.01(f) of the Indenture or after the commencement of any proceedings of the type referred to in Sections 4.01 (g), (h) or (i) of the Indenture, except, in each case, as expressly provided in
Article III of the Indenture or Article III of the applicable Related Indenture, as appropriate. 
 The indebtedness evidenced by this
Equipment Note is[,]6 [(i) to the extent and in the manner provided in the Indenture, subordinate and subject in right of payment to the prior payment in full of the Secured Obligations in
respect of [Series AA Equipment Notes]7 [Series AA Equipment Notes and Series A Equipment Notes]8 [Series AA 

 

	6 	To be inserted in the case of a Series AA Equipment Note. 

	7 	To be inserted in the case of a Series A Equipment Note. 

	8 	 To be inserted in the case of a Series B Equipment Note.

  

					
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Equipment Notes, Series A Equipment Notes and Series B Equipment Notes]9 [Series AA Equipment Notes, Series A Equipment Notes, Series B
Equipment Notes and [ ]10]11, and certain other Secured Obligations, and (ii)]12 to
the extent and in the manner provided in each Related Indenture, subordinate and subject in right of payment to the prior payment in full under such Related Indenture of the “Secured Obligations” in respect of the “Equipment
Notes” issued under such Related Indenture, and this Equipment Note is issued subject to such provisions. The Noteholder of this Equipment Note, by accepting the same, (a) agrees to and shall be bound by such provisions,
(b) authorizes and directs the Loan Trustee or the Related Loan Trustee under the applicable Related Indenture, as appropriate, on such Noteholder’s behalf to take any action necessary or appropriate to effectuate the subordination
as provided in the Indenture or the applicable Related Indenture and (c) appoints the Loan Trustee or the Related Loan Trustee under the applicable Related Indenture, as appropriate, as such Noteholder’s attorney-in-fact for such purpose. 
 Without limiting the
foregoing, the holder hereof, by its acceptance of this Equipment Note, agrees that if such holder, in its capacity as a Noteholder, receives any payment or distribution on any Secured Obligation in respect of this Equipment Note that it is not
entitled to receive under Section 2.13 or Article III of the Indenture, it shall hold any amount so received in trust for the Loan Trustee and forthwith turn over such amount to the Loan Trustee in the form received to be applied as provided in
Article III of the Indenture. 
  

	9 	To be inserted in the case of the Series of Additional Series Equipment Notes ranked most senior in priority of payment among all Series of Additional Series Equipment Notes. 

	10 	To insert each Series of Additional Series Equipment Notes that rank senior in priority of payment to the Series of Additional Series Equipment Notes being issued. 

	11 	To be inserted in the case of each Series of Additional Series Equipment Notes other than the Series of Additional Series Equipment Notes ranked most senior in priority of payment among all Series of Additional Series
Equipment Notes. 

	12 	To be inserted in the case of a Series A Equipment Note, a Series B Equipment Note or an Additional Series Equipment Note. 

  

					
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 Unless the certificate of authentication hereon has been executed by or on behalf of the Loan
Trustee by manual signature, this Equipment Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

THIS EQUIPMENT NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF
CONSTRUCTION, VALIDITY AND PERFORMANCE. 
 IN WITNESS WHEREOF, the Company has caused this Equipment Note to be executed in its corporate
name by its officer thereunto duly authorized on the date hereof. 
  

			
	SPIRIT AIRLINES, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 LOAN TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Equipment Notes referred to in the within-mentioned Indenture. 

 

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
	not in its individual capacity but solely as Loan Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  

					
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 SCHEDULE I13 

EQUIPMENT NOTE AMORTIZATION 
  

			
	 Payment Date
	  	 Percentage of Original

Principal Amount

to be Paid

[SEE “EQUIPMENT NOTES AMORTIZATION” ON SCHEDULE I TO 

INDENTURE] 
 * * * 

Section 2.02 Issuance and Terms of Equipment Notes. The Equipment Notes shall be dated the date of issuance thereof, shall be
issued in (a) separate Series consisting of Series AA Equipment Notes, Series A Equipment Notes, Series B Equipment Notes and one or more Additional Series Equipment Notes (if issued) and (b) the maturities and principal
amounts and shall bear interest at the applicable Debt Rates specified in Schedule I. On the Closing Date, each Series AA Equipment Notes, Series A Equipment Note and Series B Equipment Note shall be issued to the Subordination Agent on behalf of
the Pass Through Trustee for the applicable Pass Through Trust created under the Pass Through Trust Agreements referred to in Schedule II. Subject to compliance with the conditions set forth in Section 4(a)(v) of the Note Purchase Agreement,
Section 2.02 of the Participation Agreement and Section 8.01(c) or 8.01(d) of the Intercreditor Agreement, as applicable, the Company shall have the option after the Closing Date, at any time and from time to time (i) to issue
one or more Series of Additional Series Equipment Notes under this Indenture (including, for the avoidance of doubt, multiple issuances at the same or different times resulting in more than one Series of Additional Series Equipment Notes being
outstanding at any time), (ii) to redeem all but not less than all of the Series A Equipment Notes or all but not less than all of the Series B Equipment Notes (or all but not less than all of any Series of Additional Series Equipment Notes)
pursuant to, and in accordance with, the provisions of Section 2.11(b) and to issue under this Indenture new Equipment Notes with the same Series designation as, but with terms that may be the same as or different from those of, the redeemed
Equipment Notes, and (iii) following the payment in full of all but not less than all of the Series A Equipment Notes or all but not less than all of the Series B Equipment Notes (or all but not less all of any Series of Additional Series
Equipment Notes), to issue new Equipment Notes with the same Series designation as, but with terms that may be the same as or different from those of, such Equipment Notes that have been paid in full. If new Series A Equipment Notes, new Series B
Equipment Notes or Additional Series 
  

	13 	 To be inserted in installment Equipment Notes.

  

					
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Equipment Notes or new Additional Series Equipment Notes are issued after the Closing Date in accordance with the immediately preceding sentence, such Equipment Notes shall be dated the date of
original issuance thereof and shall have such maturities, principal amounts and interest rate as specified in an amendment to this Indenture. The Equipment Notes shall be issued in registered form only. The Equipment Notes shall be issued in
denominations of $1,000 and integral multiples thereof, except that one Equipment Note of each Series may be in an amount that is not an integral multiple of $1,000. For the avoidance of doubt, if the Company shall issue new “Series A Equipment
Notes” or new “Series B Equipment Notes” or “Additional Series Equipment Notes” of any Series or new “Additional Series Equipment Note”, in each case under any Related Indenture, the Company may, but shall not be
required to, issue, as the case may be, new Series A Equipment Notes or new Series B Equipment Notes or Additional Series Equipment Notes of the same Series or new Additional Series Equipment Notes of the same Series, in each case under this
Indenture. 
 Each Equipment Note shall bear interest at the Debt Rate specified for the applicable Series (calculated on the basis of a
year of 360 days comprised of twelve 30-day months), payable in arrears on each Payment Date on the unpaid principal amount thereof from time to time outstanding from the most recent Payment Date to which
interest has been paid or duly provided for (or, if no interest has been so paid or provided for, from the date of issuance of such Equipment Note) until such principal amount is paid in full, as further provided in the form of Equipment Note set
forth in Section 2.01. The principal amount of each Series AA Equipment Note, each Series A Equipment Note and each Series B Equipment Note shall be payable in installments or in a single payment on the Payment Dates set forth in such Equipment
Note, each such installment, if any, to be in an amount computed by multiplying the original principal amount of such Equipment Note by the corresponding percentage set forth in Schedule I hereto applicable to such Series, the applicable portion of
which shall be attached as Schedule I to such Equipment Note, opposite the Payment Date on which such installment is due. Each Additional Series Equipment Note, if issued, shall be payable in installments or in a single payment as set forth in an
amendment to this Indenture, and if payable in installments, such installments shall be calculated as set forth in the preceding sentence. Notwithstanding the foregoing, the final payment made under each Equipment Note shall be in an amount
sufficient to discharge in full the unpaid principal amount and all accrued and unpaid interest on, and any other amounts due under, such Equipment Note. Each Equipment Note shall bear interest, payable on demand, at the Past Due Rate (and not at
the Debt Rate) (calculated on the basis of a year of 360 days comprised of twelve 30-day months) on any principal amount and (to the extent permitted by applicable law) Make-Whole Amount, if any, interest and
any other amounts payable thereunder not paid when due for any period during which the same is overdue, in each case for the period the same is overdue. Amounts shall be overdue under an Equipment Note if not paid in the manner provided therein or
in this Indenture when due (whether at stated maturity, by 

  

					
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acceleration or otherwise). Notwithstanding anything to the contrary contained herein, if any date on which a payment hereunder or under any Equipment Note becomes due and payable is not a
Business Day, then such payment shall not be made on such scheduled date but shall be made on the next succeeding Business Day with the same force and effect as if made on such scheduled date, and if such payment is made on such next succeeding
Business Day, no interest shall accrue on the amount of such payment from and after such scheduled date. 
 The Equipment Notes shall be
executed on behalf of the Company by the manual or facsimile signature of one of its authorized officers. Equipment Notes bearing the signatures of individuals who were at the time of execution the proper officers of the Company shall bind the
Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Equipment Notes or did not hold such offices at the respective dates of such Equipment Notes. No
Equipment Note shall be secured by or entitled to any benefit under this Indenture or be valid or obligatory for any purposes unless there appears on such Equipment Note a certificate of authentication in the form provided herein executed by the
Loan Trustee by the manual signature of one of its authorized officers, and such certificate upon any Equipment Notes shall be conclusive evidence, and the only evidence, that such Equipment Note has been duly authenticated and delivered hereunder.

 Section 2.03 Method of Payment. The principal amount of, interest on, Make-Whole Amount, if any, and, except to the extent
expressly provided herein, all other amounts due under each Equipment Note or otherwise payable hereunder shall be payable by the Company in Dollars by wire transfer of immediately available funds not later than 10:00 a.m. (New York City time) on
the due date of payment to the Loan Trustee at the Corporate Trust Office for distribution among the Noteholders in the manner provided herein, and payment of such amount by the Company to the Loan Trustee shall be deemed to satisfy the
Company’s obligation to make such payment. The Company shall not have any responsibility for the distribution of such payment to any Noteholder. Notwithstanding the foregoing or any provision in any Equipment Note to the contrary, the Loan
Trustee will use reasonable efforts to pay or cause to be paid, if so directed in writing by any Noteholder (with a copy to the Company), all amounts paid by the Company hereunder and under such Noteholder’s Equipment Note or Equipment Notes to
such Noteholder or a nominee therefor (including all amounts distributed pursuant to Article III) by transferring, or causing to be transferred, by wire transfer of immediately available funds in Dollars, prior to 12:00 noon (New York City time) on
the due date of payment, to an account maintained by such Noteholder with a bank located in the continental United States the amount to be distributed to such Noteholder, for credit to the account of such Noteholder maintained at such bank;
provided that, in the event the Equipment Notes are not held by the Subordination Agent on behalf of the Pass Through Trustees, the Loan Trustee shall, unless instructed by the Company to use another

  

					
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[Reg. No.]

 
method, pay such amounts by check mailed to the Noteholder’s address as it appears on the Equipment Note Register. If, after its receipt of funds at the place and prior to the time specified
above in the immediately preceding sentence, the Loan Trustee fails (other than as a result of a failure of the Noteholder to provide it with wire transfer instructions) to make any such payment required to be paid by wire transfer as provided in
the immediately preceding sentence on the Business Day it receives such funds, the Loan Trustee, in its individual capacity and not as trustee, agrees to compensate such Noteholders for loss of use of funds at the Federal Funds Rate until such
payment is made and the Loan Trustee shall be entitled to any interest earned on such funds until such payment is made. Any payment made hereunder shall be made without any presentment or surrender of any Equipment Note, except that, in the case of
the final payment in respect of any Equipment Note, such Equipment Note shall be surrendered to the Loan Trustee for cancellation. Notwithstanding any other provision of this Indenture to the contrary, the Loan Trustee shall not be required to make,
or cause to be made, wire transfers as aforesaid prior to the first Business Day on which it is practicable for the Loan Trustee to do so in view of the time of day when the funds to be so transferred were received by it if such funds were received
after 1:00 p.m. (New York City time) at the place of payment, in which case the Loan Trustee shall make such required payment on the next succeeding Business Day. So long as any signatory to the Participation Agreement or nominee thereof shall be a
registered Noteholder, all payments to it shall be made to the account of such Noteholder specified in Schedule I to the Participation Agreement or otherwise in the manner provided in or pursuant to the Participation Agreement unless it shall have
specified some other account or manner of payment by notice to the Loan Trustee consistent with this Section 2.03. 
 Section 2.04
Withholding Taxes. The Loan Trustee shall exclude and withhold at the appropriate rate from each payment of principal, interest, Make-Whole Amount, if any, and other amounts due hereunder or under each Equipment Note (which exclusion and
withholding shall constitute payment of such amounts payable hereunder or in respect of such Equipment Notes, as applicable) any and all withholding Taxes applicable thereto as required by applicable law. The Loan Trustee agrees to act as such
withholding agent and whenever any present or future Taxes or similar charges are required to be withheld with respect to any amounts payable hereunder or in respect of the Equipment Notes, to withhold such amounts (which withholding shall
constitute payment of such amounts payable hereunder or in respect of such Equipment Notes, as applicable) and timely pay the same to the appropriate authority in the name of and on behalf of the Noteholders, that it will file any necessary
withholding Tax returns or statements when due, and that as promptly as possible after the payment thereof it will deliver to each Noteholder (with a copy to the Company) appropriate documentation showing the payment thereof, together with such
additional documentary evidence as any such Noteholder may reasonably request from time to time. The Loan Trustee agrees to file any other information reports it is required to file under United States law. 

  

					
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[Reg. No.]

 Section 2.05 Application of Payments. Subject always to Section 2.13 and except
as otherwise provided in Article III, in the case of each Equipment Note, each payment of an installment of principal amount, Make-Whole Amount, if any, and interest paid thereon shall be applied: 

first, to the payment of accrued interest on such Equipment Note (as well as any interest on (i) any overdue
principal amount, and (ii) to the extent permitted by applicable law, any overdue Make-Whole Amount, if any, any overdue interest and any other overdue amounts thereunder) to the date of such payment; 

second, to the payment of Make-Whole Amount, if any, with respect to such Equipment Note; 

third, to the payment of the principal amount of such Equipment Note (or portion thereof) then due thereunder, if any;
and 
 fourth, the balance, if any, remaining thereafter, to the payment of installments of the principal amount of
such Equipment Note (or portion thereof) remaining unpaid in the inverse order of their maturity. 
 Section 2.06 Termination of
Interest in Collateral. No Noteholder or Indenture Indemnitee shall, as such, have any further interest in, or other right with respect to, the Collateral when and if the principal amount of, Make-Whole Amount, if any, and interest (including,
to the extent permitted by applicable law, post-petition interest and interest on any overdue amounts) on and all other amounts due under all Equipment Notes held by such Noteholder and all other sums then due and payable to such Noteholder or
Indenture Indemnitee, as the case may be, hereunder (including, without limitation, under Section 2.14) and under the Participation Agreement by the Company (the “Secured Obligations”) have been paid in full. 

Subject to Section 10.01 hereof, no Related Indenture Indemnitee shall, as such, have any further interest in, or other right with
respect to, the Collateral when and if all Related Secured Obligations have been paid in full. 
 Section 2.07 Registration,
Transfer and Exchange of Equipment Notes. The Loan Trustee shall keep a register or registers (the “Equipment Note Register”) in which the Loan Trustee shall provide for the registration of Equipment Notes and the

  

					
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[Reg. No.]

 
registration of transfers of Equipment Notes. No such transfer shall be given effect unless and until registration hereunder shall have occurred. The Equipment Note Register shall be kept at the
Corporate Trust Office of the Loan Trustee. The Loan Trustee is hereby appointed “Equipment Note Registrar” for the purpose of registering Equipment Notes and transfers of Equipment Notes as herein provided. A holder of any Equipment Note
intending to exchange or transfer such Equipment Note shall surrender such Equipment Note to the Loan Trustee at the Corporate Trust Office, together with a written request from the registered holder thereof for the issuance of a new Equipment Note
of the same Series, specifying, in the case of a surrender for transfer, the name and address of the new holder or holders. Upon surrender for registration of transfer of any Equipment Note and subject to satisfaction of Section 2.09, the
Company shall execute, and the Loan Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Equipment Notes of an equal aggregate principal amount and of the same Series. At the option of the
Noteholder, Equipment Notes may be exchanged for other Equipment Notes of the same Series of any authorized denominations of an equal aggregate principal amount, upon surrender of the Equipment Notes to be exchanged to the Loan Trustee at the
Corporate Trust Office. Whenever any Equipment Notes are so surrendered for exchange, the Company shall execute, and the Loan Trustee shall authenticate and deliver, the Equipment Notes which the Noteholder making the exchange is entitled to
receive. All Equipment Notes issued upon any registration of transfer or exchange of Equipment Notes (whether under this Section 2.07 or under Section 2.08 or otherwise under this Indenture) shall be the valid obligations of the Company
evidencing the same respective obligations, and entitled to the same security and benefits under this Indenture, as the Equipment Notes surrendered upon such registration of transfer or exchange. Every Equipment Note presented or surrendered for
registration of transfer shall (if so required by the Company or the Loan Trustee) be duly endorsed or be accompanied by a written instrument of transfer in form satisfactory to the Loan Trustee, duly executed by the Noteholder or such
Noteholder’s attorney duly authorized in writing, and the Company and the Loan Trustee shall require evidence satisfactory to it as to the compliance of any such transfer with the Securities Act and the securities laws of any applicable state
or jurisdiction. The Loan Trustee shall make a notation on each new Equipment Note of the amount of all payments of principal amount previously made on the old Equipment Note or Equipment Notes with respect to which such new Equipment Note is issued
and the date to which interest on such old Equipment Note or Equipment Notes has been paid. Principal, interest and all other amounts shall be deemed to have been paid on such new Equipment Note to the date on which such amounts have been paid on
such old Equipment Note. The Company shall not be required to exchange any surrendered Equipment Notes as provided above (a) during the ten-day period preceding the due date of any payment on such
Equipment Note or (b) that has been called for redemption. The Company and the Loan Trustee shall in all cases deem and treat the Person in whose name any Equipment Note has been issued and registered on the Equipment Note Register as
the absolute owner and the Noteholder of such Equipment Note for the purpose of receiving payment of all amounts payable with 

  

					
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[Reg. No.]

 
respect to such Equipment Note and for all other purposes, and neither the Company nor the Loan Trustee shall be affected by any notice to the contrary. The Loan Trustee will promptly notify the
Company of each registration of a transfer of an Equipment Note. Any such transferee of an Equipment Note, by its acceptance of an Equipment Note, agrees to the provisions of this Indenture, the Related Indentures, the Participation Agreement, the
other Operative Documents and the Pass Through Documents applicable to the Noteholders or, in the case of each Related Indenture, Related Noteholders, and, without limiting the generality of the foregoing, any such transferee of an Equipment Note,
by its acceptance of an Equipment Note: (i) agrees to the applicable provisions of Sections 6.01, 7.10 and 7.11 of the Participation Agreement, and shall be deemed to have represented, warranted and covenanted to the parties to the
Participation Agreement as to the matters represented, warranted and covenanted by the Noteholders, including the Pass Through Trustees, in the Participation Agreement and (ii) agrees to the restrictions set forth in Sections 4.01(a)(ii)
and 4.01(a)(iii) of the Intercreditor Agreement, and shall be deemed to have covenanted to the parties to the Intercreditor Agreement not to give any direction to, or otherwise authorize, the Loan Trustee to take any action that would violate
Section 4.01(a)(ii) or 4.01(a)(iii) of the Intercreditor Agreement. Subject to compliance by the Noteholder and any transferee of the requirements set forth in this Section 2.07 and in Section 2.09, the Loan Trustee and the Company
shall use all reasonable efforts to issue new Equipment Notes upon transfer or exchange within ten Business Days of the date an Equipment Note is surrendered for transfer or exchange. 

Section 2.08 Mutilated, Destroyed, Lost or Stolen Equipment Notes. If any Equipment Note becomes mutilated, destroyed, lost or
stolen, the Company shall, upon the written request of the holder of such Equipment Note and subject to satisfaction of this Section 2.08 and of Section 2.09, execute and the Loan Trustee shall authenticate and deliver in replacement
thereof a new Equipment Note of the same Series, payable in the same principal amount, dated the same date and captioned as issued in connection with the Aircraft. If the Equipment Note being replaced has become mutilated, such Equipment Note shall
be surrendered to the Loan Trustee, and a photocopy thereof shall be furnished to the Company. If the Equipment Note being replaced has been destroyed, lost or stolen, the holder of such Equipment Note shall furnish to the Company and the Loan
Trustee such security or indemnity as may be required by them to save the Company and the Loan Trustee harmless and evidence satisfactory to the Company and the Loan Trustee of the destruction, loss or theft of such Equipment Note and of the
ownership thereof. 
 Section 2.09 Payment of Expenses on Transfer; Cancellation. 

(a) No service charge shall be made to a Noteholder for any registration of transfer or exchange of Equipment Notes, but the Loan Trustee, as
Equipment Note 

  

					
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[Reg. No.]

 
Registrar, may require payment of a sum sufficient to cover any Tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Equipment
Notes. 
 (b) The Loan Trustee shall cancel all Equipment Notes surrendered for replacement, redemption, transfer, exchange, payment or
cancellation, shall keep a copy of such canceled Equipment Notes, and shall send the original canceled Equipment Notes marked “canceled” to the Company. 

Section 2.10 Mandatory Redemption of Equipment Notes.    The Company shall redeem the Equipment Notes in whole
in connection with an Event of Loss in respect of the Airframe or the Airframe and the Engines installed thereon (unless the Company has performed the option set forth in Section 7.05(a)(i) with respect thereto) on or before the Loss Payment
Date at a redemption price equal to 100% of the unpaid principal amount thereof, together with all accrued and unpaid interest thereon to (but excluding) the date of redemption and all other Secured Obligations owed or then due and payable to the
Noteholders, but without any Make-Whole Amount. 
 Section 2.11 Voluntary Redemption of Equipment Notes. 

(a) Except as provided in Section 2.11(b), all (but not less than all) of the Equipment Notes may be redeemed by the Company at any time
upon at least 30 days’ revocable prior written notice to the Loan Trustee and the Noteholders, and such Equipment Notes shall be redeemed in whole at a redemption price equal to 100% of the unpaid principal amount thereof, together with accrued
and unpaid interest thereon to (but excluding) the date of redemption and all other Secured Obligations owed or then due and payable to the Noteholders, plus Make-Whole Amount, if any; provided that no redemption shall be permitted under this
Section 2.11(a) unless, simultaneously with such redemption, the Related Equipment Notes shall also be redeemed. 
 (b) All of the
Series A Equipment Notes or all of the Series B Equipment Notes or all of any Series of Additional Series Equipment Notes (or any combination of the foregoing) may be redeemed by the Company upon at least 30 days’ revocable prior written notice
to the Loan Trustee and the Noteholders of each Series to be redeemed, and such Series of Equipment Notes being redeemed pursuant to this Section 2.11(b) shall be redeemed in whole at a redemption price equal to 100% of the unpaid principal
amount thereof, together with accrued and unpaid interest thereon to (but excluding) the date of redemption and all other Secured Obligations owed or then due and payable to the Noteholders of such Series, plus Make-Whole Amount, if any;
provided that: 

  

					
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[Reg. No.]

 (i) no redemption shall be permitted under this Section 2.11(b) unless,
simultaneously with such redemption, the Related Series A Equipment Notes (in the case of redemption hereunder of Series A Equipment Notes) or the Related Series B Equipment Notes (in the case of redemption hereunder of Series B Equipment Notes) or
the Related Additional Series Equipment Notes in respect of the Additional Series Equipment Notes being redeemed (in the case of redemption hereunder of any Additional Series Equipment Notes), as the case may be, shall also be redeemed; and 

(ii) if, simultaneously with such redemption, new Series A Equipment Notes (in the case of redemption hereunder of Series A
Equipment Notes), new Series B Equipment Notes (in the case of redemption hereunder of Series B Equipment Notes) or new Additional Series Equipment Notes of the same Series designation as the Additional Series Equipment Notes being redeemed (in the
case of redemption hereunder of Additional Series Equipment Notes), in any such case, having terms that may be the same as or different from those of the redeemed Equipment Notes, are being issued, such new Equipment Notes shall be issued in
accordance with Section 2.02 of the Participation Agreement, Section 4(a)(v) of the Note Purchase Agreement and Section 8.01(c) of the Intercreditor Agreement. 

(c) Notwithstanding anything to the contrary in Section 2.11(a) or (b), so long as the Company or any of its Affiliates beneficially owns
100% of the Pass Through Certificates issued by any Pass Through Trustee, the redemption price shall not include, and no Noteholder shall have any right to otherwise claim, any Make-Whole Amount with respect to the Series of Equipment Notes issued
to the Subordination Agent for the benefit of such Pass Through Trustee. 
 Section 2.12 Redemptions; Notice of Redemptions;
Repurchases. 
 (a) No redemption of any Equipment Note may be made except to the extent and in the manner expressly permitted by this
Indenture. The Company may at any time repurchase any of the Equipment Notes not held by the Subordination Agent at any price and may hold or resell such Equipment Notes or surrender such Equipment Notes to the Loan Trustee for cancellation. 

(b) Notice of redemption with respect to the Equipment Notes shall be given by the Loan Trustee by first-class mail, postage prepaid, mailed
not less than 30 nor more than 60 days prior to the applicable redemption date, to each Noteholder of such 

  

					
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[Reg. No.]

 
Equipment Notes to be redeemed, at such Noteholder’s address appearing in the Equipment Note Register; provided that such notice shall be revocable by written notice from the Company
to the Loan Trustee given no later than three days prior to the redemption date. All notices of redemption shall state: (1) the redemption date, (2) the applicable basis for determining the redemption price,
(3) that on the redemption date, the redemption price will become due and payable upon each such Equipment Note, and that, if any such Equipment Notes are then outstanding, interest on such Equipment Notes shall cease to accrue on and
after such redemption date and (4) the place or places where such Equipment Notes are to be surrendered for payment of the redemption price. 

(c) On or before the redemption date, the Company (or any person on behalf of the Company) shall, to the extent an amount equal to the
redemption price for the Equipment Notes to be redeemed on the redemption date shall not then be held by the Loan Trustee, deposit or cause to be deposited with the Loan Trustee by 10:00 a.m. (New York City time) on the redemption date in
immediately available funds the redemption price of the Equipment Notes to be redeemed. 
 (d) Notice of redemption having been given as
aforesaid (and not revoked as permitted by this Section 2.12), the Equipment Notes to be redeemed shall, on the redemption date, become due and payable at the Corporate Trust Office of the Loan Trustee, and from and after such redemption date
(unless there is a default in the deposit of the redemption price pursuant to Section 2.12(c)) any such Equipment Notes then outstanding shall cease to bear interest. Upon surrender of any such Equipment Note for redemption in accordance with
said notice, such Equipment Note shall be redeemed at the redemption price. 
 Section 2.13 Subordination. 

(a) The indebtedness evidenced by the Series A Equipment Notes is, to the extent and in the manner provided in this Indenture, subordinate and
subject in right of payment to the prior payment in full of the Secured Obligations in respect of the Series AA Equipment Notes, and the Series A Equipment Notes are issued subject to such provisions. The indebtedness evidenced by the Series B
Equipment Notes is, to the extent and in the manner provided in this Indenture, subordinate and subject in right of payment to the prior payment in full of the Secured Obligations in respect of the Series AA Equipment Notes and the Series A
Equipment Notes, and the Series B Equipment Notes are issued subject to such provisions. The indebtedness evidenced by the Series of Additional Series Equipment Notes ranked most senior in priority of payment among all Series of Additional Series
Equipment Notes, if issued, will be, to the extent and in the manner provided in this Indenture (as this Indenture may be amended in connection with 

  

					
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[Reg. No.]

 
any such issuance of such most senior Series of Additional Series Equipment Notes), subordinate and subject in right of payment to the prior payment in full of the Secured Obligations in respect
of the Series AA Equipment Notes, the Series A Equipment Notes and the Series B Equipment Notes, and any such most senior Series of Additional Series Equipment Notes, if issued, shall be issued subject to such provisions. The indebtedness evidenced
by any Additional Series Equipment Notes (other than the Series of Additional Series Equipment Notes ranked most senior in priority of payment among all Series of Additional Series Equipment Notes), if issued, will be, to the extent and in the
manner provided in this Indenture (as this Indenture may be amended in connection with any such issuance of such Additional Series Equipment Notes), subordinate and subject in right of payment to the prior payment in full of the Secured Obligations
in respect of the Series AA Equipment Notes, the Series A Equipment Notes, the Series B Equipment Notes and each Series of Additional Series Equipment Notes that rank senior in priority of payment to such Additional Series Equipment Notes, and any
such Additional Series Equipment Notes, if issued, shall be issued subject to such provisions. The indebtedness evidenced by the Series AA Equipment Notes, the Series A Equipment Notes and the Series B Equipment Notes is, and the indebtedness
evidenced by any Additional Series Equipment Notes, if issued, will be, to the extent and in the manner provided in each Related Indenture, subordinate and subject in right of payment to the prior payment in full under such Related Indenture of the
“Secured Obligations” in respect of the “Equipment Notes” issued under such Related Indenture, and the Series AA Equipment Notes, the Series A Equipment Notes and the Series B Equipment Notes are, and any Additional Series
Equipment Notes shall be, issued subject to such provisions. By acceptance of its Equipment Notes of any Series, each Noteholder of such Series (i) agrees to and shall be bound by such provisions, (ii) authorizes and directs
the Loan Trustee or the Related Loan Trustee under the applicable Related Indenture, as appropriate, on such Noteholder’s behalf to take any action necessary or appropriate to effectuate the subordination as provided in this Indenture and the
applicable Related Indenture and (iii) appoints the Loan Trustee or the Related Loan Trustee under the applicable Related Indenture, as appropriate, as such Noteholder’s attorney-in-fact for such purpose. 
 (b) The Company, the Loan Trustee and, by acceptance of its
Equipment Notes of any Series, each Noteholder of such Series, hereby agree that no payment or distribution shall be made on or in respect of the Secured Obligations, or the “Secured Obligations” under any Related Indenture, owed to such
Noteholder of such Series, including any payment or distribution of cash, property or securities after the occurrence of any of the events referred to in Section 4.01(f) or after the commencement of any proceedings of the type referred to in
Section 4.01(g), (h) or (i), except, in each case, as expressly provided in Article III of this Indenture or Article III of the applicable Related Indenture, as appropriate. 

  

					
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 (c) By the acceptance of its Equipment Notes of any Series, each Noteholder of such Series agrees
that (i) if such Noteholder, in its capacity as a Noteholder, receives any payment or distribution on any Secured Obligations in respect of such Series that it is not entitled to receive under this Section 2.13 or Article III, it
will hold any amount so received in trust for the Loan Trustee and forthwith turn over such amount to the Loan Trustee in the form received to be applied as provided in Article III and (ii) if such Noteholder, in its capacity as a
“Noteholder” under any Related Indenture, receives any payment or distribution on any “Secured Obligations” in respect of “Equipment Notes” of any “Series” issued under such Related Indenture that it is not
entitled to receive under Section 2.13 or Article III of such Related Indenture, it will hold any amount so received in trust for the Related Loan Trustee under such Related Indenture and forthwith turn over such amount to such Related Loan
Trustee under such Related Indenture in the form received to be applied as provided in Article III of such Related Indenture. 

Section 2.14 Certain Payments. The Company agrees to pay to the Loan Trustee for distribution in accordance with
Section 3.04: 
 (a) an amount or amounts equal to the fees payable to the Liquidity Providers under Section 2.03
of each Liquidity Facility and the Fee Letter (as defined in the Intercreditor Agreement) related thereto (or similar provisions of any Replacement Liquidity Facility therefor and any related fee letter), multiplied by a fraction, the numerator of
which is the sum of the then outstanding aggregate principal amount of the Series AA Equipment Notes, the Series A Equipment Notes and the Series B Equipment Notes and the denominator of which is the sum of the then outstanding aggregate principal
amount of all “Series AA Equipment Notes”, “Series A Equipment Notes” and “Series B Equipment Notes” (each as defined in the Note Purchase Agreement) with respect to all of the “Indentures” (as defined in the
Note Purchase Agreement); 
 (b) an amount equal to interest on any Special Termination Advance (other than any Applied
Special Termination Advance) payable under Section 3.07 of each Liquidity Facility (or similar provisions of any Replacement Liquidity Facility therefor) minus Investment Earnings from such Special Termination Advance multiplied by the fraction
specified in the foregoing clause (a); 
 (c) an amount equal to interest on any Downgrade Advance (other than any Applied
Downgrade Advance) payable under Section 3.07 of each Liquidity Facility 

  

					
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(or similar provisions of any Replacement Liquidity Facility therefor) minus Investment Earnings from such Downgrade Advance multiplied by the fraction specified in the foregoing clause (a); 

(d) an amount equal to interest on any Non-Extension Advance (other than any Applied Non-Extension Advance) payable under Section 3.07 of each Liquidity Facility (or similar provisions of any Replacement Liquidity Facility therefor) minus Investment Earnings from such Non-Extension Advance multiplied by the fraction specified in the foregoing clause (a); 

(e) if any payment default shall have occurred and be continuing with respect to interest on any “Series AA Equipment
Notes”, “Series A Equipment Notes” or “Series B Equipment Notes” (each as defined in the Note Purchase Agreement), (x) the excess, if any, of (1) the amount equal to the sum of interest on any Unpaid
Advance (other than a Special Termination Advance), Applied Provider Advance or Applied Special Termination Advance payable under Section 3.07 of each Liquidity Facility (or similar provisions of any Replacement Liquidity Facility therefor)
plus any other amounts payable in respect of such Unpaid Advance, Applied Provider Advance or Applied Special Termination Advance under Section 3.01, 3.03 or 3.09 of each Liquidity Facility (or similar provisions of any Replacement Liquidity
Facility therefor) under which such Unpaid Advance, Applied Provider Advance or Applied Special Termination Advance was made over (2) the sum of (A) Investment Earnings from any Final Advance plus (B) any amount
of interest at the Past Due Rate actually payable (whether or not in fact paid) by the Company in respect of the overdue scheduled interest on the “Series AA Equipment Notes”, “Series A Equipment Notes” and “Series B
Equipment Notes” (each as defined in the Note Purchase Agreement) in respect of which such Unpaid Advance, Applied Provider Advance or Applied Special Termination Advance was made, multiplied by (y) a fraction, the numerator of
which is the then aggregate overdue amounts of interest on the then outstanding Series AA Equipment Notes, Series A Equipment Notes and Series B Equipment Notes (other than interest becoming due and payable solely as a result of acceleration of any
such Equipment Notes) and the denominator of which is the then aggregate overdue amounts of interest on all then outstanding “Series AA Equipment Notes”, “Series A Equipment Notes” and “Series B Equipment Notes” (each
as defined in the Note Purchase Agreement) with respect to all of the “Indentures” (as defined in the Note Purchase Agreement) (other than interest becoming due and payable solely as a result of acceleration of any such “Equipment
Notes”); 
 (f) any amounts owed to the Liquidity Providers by the Subordination Agent as borrower under Sections 3.01
(other than in respect of an Unpaid 

  

					
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Advance, Applied Provider Advance or Applied Special Termination Advance), 3.03 (other than in respect of an Unpaid Advance, Applied Provider Advance or Applied Special Termination Advance), 7.05
and 7.07 of each Liquidity Facility (or similar provisions of any Replacement Liquidity Facility therefor) multiplied by the fraction specified in the foregoing clause (a); and 

(g) an amount or amounts equal to the compensation, including reasonable expenses and disbursements actually incurred, payable
to the Subordination Agent under Section 6.07 of the Intercreditor Agreement, multiplied by the fraction specified in the foregoing clause (a) (but in any event without duplication of any amount or amounts payable by the Company in respect of
such compensation under any other Operative Document or Pass Through Document). 
 For purposes of this paragraph, the terms “Applied
Downgrade Advance”, “Applied Non-Extension Advance”, “Applied Provider Advance”, “Applied Special Termination Advance”, “Downgrade Advance”, “Final
Advance”, “Investment Earnings”, “Non-Extension Advance”, “Special Termination Advance” and “Unpaid Advance” have the meanings specified in each Liquidity Facility
or the Intercreditor Agreement, as applicable. 
 Section 2.15 Repayment of Monies for Equipment Note Payments Held by the Loan
Trustee. Any money held by the Loan Trustee in trust for any payment of the principal of, Make-Whole Amount, if any, or interest or any other amounts due on, any Equipment Note, including, without limitation, any money deposited pursuant to
Section 2.12(c) or 10.01, and remaining unclaimed for a 730-day period (for purposes of calculating this 730-day period, all days on which the payment of such money
shall not have been made because of operation of law shall be excluded) after the due date for such payment (or such lesser time as the Loan Trustee is satisfied, after 60 days’ notice from the Company, is one month prior to the escheat period
provided under applicable state law) shall be paid to the Company. The Noteholders of any outstanding Equipment Notes shall thereafter, as unsecured general creditors, look only to the Company for payment thereof, and all liability of the Loan
Trustee with respect to such trust money shall thereupon cease. The Loan Trustee, before being required to make any such repayment, may at the expense of the Company cause to be mailed to each such Noteholder notice that such money remains
unclaimed. After a date specified in such notice, which may not be less than 30 days from the date of mailing, any unclaimed balance of such money then remaining will be repaid to the Company as provided herein. 

  

					
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 Section 2.16 Directions by the Subordination Agent. So long as the Subordination
Agent is a Noteholder, notwithstanding anything contained herein or in any other Operative Document to the contrary, in exercising its right to vote the Equipment Notes held by it, or in giving or taking any direction, consent, request, demand,
instruction, authorization, notice, waiver or other action provided by this Indenture or in respect of the Equipment Notes to be given or taken by a Noteholder (each such vote or other action, a “Direction”) in respect of such
Equipment Notes, the Subordination Agent may act in accordance with any votes, directions, consents, requests, demands, instructions, authorizations, notices, waivers or other actions given or taken by any applicable Pass Through Trustee or the
Controlling Party pursuant to the Intercreditor Agreement, including without limitation pursuant to Section 2.06, Article IV or Section 8.01(b) thereof. The Subordination Agent shall be permitted (x) to give a Direction with
respect to less than the entire principal amount of any single Equipment Note held by it, and (y) to give different Directions with respect to different portions of the principal amount of any single Equipment Note held by it. Any
Direction given by the Subordination Agent at any time with respect to more than a majority in aggregate unpaid principal amount of all of the Equipment Notes issued and then outstanding hereunder shall be deemed to have been given by a Majority in
Interest of Noteholders. 
 ARTICLE III 

Receipt, Distribution and Application of Income 

From the Collateral 

Section 3.01 Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by the
Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: 

first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of
principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be
distributed to the Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of
the payments then due under all Series AA Equipment Notes; 

  

					
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 second, after giving effect to clause “first” above, so much of
such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any
overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of
such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; 

third, after giving effect to clause “second” above, so much of such payment remaining as is required to pay
in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts)
then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series
B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; 
 fourth,
after giving effect to clause “third” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xv) or (xvi) of Section 9.01) so much of such payment remaining as is required to pay in full
the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due
under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such
payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause
“fourth” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and 

fifth ̧ the balance, if any, of such installment remaining thereafter shall be distributed to the Company. 

  

					
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 Section 3.02 Event of Loss; Optional Redemption. 

Except as otherwise provided in Sections 3.03 and 3.04 and subject to the following provisos, any payments received by the Loan Trustee
(i) with respect to the Airframe or the Airframe and one or more Engines as the result of an Event of Loss pursuant to Section 2.10 or (ii) pursuant to an optional redemption of the Equipment Notes pursuant to
Section 2.11 shall be applied to redemption of the Equipment Notes and to all other Secured Obligations and Related Secured Obligations then due by applying such payments in the following order of priority: 

first, so much of such payment as is required (i) to reimburse the Loan Trustee and the Noteholders for any
reasonable costs or expenses actually incurred in connection with such redemption for which they are entitled to reimbursement, or indemnity by the Company, under the Operative Documents and then (ii) to pay any other Secured Obligations
then due to the Loan Trustee, the Noteholders and the other Indenture Indemnitees under this Indenture, the Participation Agreement or the Equipment Notes (other than amounts specified in clauses “second” and “third” below); 

second, after giving effect to clause “first” above: 

(i) so much of such payment remaining as is required to pay the amounts specified in paragraph (i) of clause
“third” of Section 3.03 plus Make-Whole Amount, if any, then due and payable in respect of the Series AA Equipment Notes; 

(ii) after giving effect to paragraph (i) above, so much of such payment remaining as is required to pay the amounts
specified in paragraph (ii) of clause “third” of Section 3.03 plus Make-Whole Amount, if any, then due and payable in respect of the Series A Equipment Notes; 

(iii) after giving effect to paragraph (ii) above, so much of such payment remaining as is required to pay the amounts
specified in paragraph (iii) of clause “third” of Section 3.03 plus Make-Whole Amount, if any, then due and payable in respect of the Series B Equipment Notes; and 

(iv) after giving effect to paragraph (iii) above (and except as otherwise provided in an amendment to this Indenture
pursuant to 

  

					
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paragraph (xv) or (xvi) of Section 9.01), so much of such payment remaining as is required to pay the amounts specified in paragraph (iv) of clause “third” of
Section 3.03 plus Make-Whole Amount, if any, then due and payable in respect of Additional Series Equipment Notes of a specified Series, provided that this paragraph (iv) shall apply to each Series of Additional Series Equipment
Notes in order of priority of payment; 
 third, after giving effect to clause “second” above, so much of
such payment remaining as is required to pay the amounts as provided in clause “third” of Section 3.03 in respect of Related Secured Obligations under each Defaulted Operative Indenture other than paragraph (xi) of clause
“third” of Section 3.03; and 
 fourth, the balance, if any, of such payment, shall be distributed as
provided in clause “fourth” of Section 3.03; 
 provided that any insurance, condemnation or similar proceeds resulting from an Event
of Loss that are received by the Loan Trustee shall be held and distributed by the Loan Trustee as provided in Sections 7.05(c) and 7.06(d), and any such proceeds that are held by the Loan Trustee shall be invested as provided in Section 5.06;
and provided, further, that in the case of a redemption of Equipment Notes pursuant to Section 2.11(b), if a particular Series is not being redeemed pursuant thereto, no application of funds shall be made pursuant to the
paragraphs in clause “second” above that refer to such Series in connection with such redemption. No Make-Whole Amount shall be due and payable on the Equipment Notes as a consequence of the redemption of the Equipment Notes as a result of
an Event of Loss with respect to the Airframe or the Airframe and one or more Engines. 
 Section 3.03 Payments After Event of
Default. 
 Except as otherwise provided in Section 3.04, all payments received and amounts held or realized by the Loan Trustee
(including any amounts realized by the Loan Trustee from the exercise of any remedies pursuant to Article IV) after both an Event of Default shall have occurred and be continuing and the Equipment Notes shall have become due and payable pursuant to
Section 4.02(a), as well as all payments or amounts then held by the Loan Trustee as part of the Collateral, shall be promptly distributed by the Loan Trustee in the following order of priority: 

  

					
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 first, so much of such payments or amounts as is required to
(i) reimburse the Loan Trustee or WTNA, to the extent the Loan Trustee or WTNA is entitled to be reimbursed or indemnified under the Operative Documents, for any Tax, expense or other loss (including, without limitation, all amounts to
be expended at the expense of, or charged upon the tolls, rents, revenues, issues, products and profits of, the property included in the Collateral pursuant to Section 4.02(a)) actually incurred by the Loan Trustee or WTNA (to the extent not
previously reimbursed), the expenses of any sale, taking or other proceeding, reasonable attorneys’ fees and expenses, court costs, and any other expenditures actually incurred or expenditures or advances made by the Loan Trustee, WTNA or the
Noteholders in the protection, exercise or enforcement of any right, power or remedy or any damages sustained by the Loan Trustee, WTNA or any Noteholder, liquidated or otherwise, upon such Event of Default shall be applied by the Loan Trustee as
between itself, WTNA and the Noteholders in reimbursement of such expenses and any other expenses for which the Loan Trustee, WTNA or the Noteholders are entitled to reimbursement under any Operative Document and (ii) pay all Secured
Obligations payable to the other Indenture Indemnitees hereunder and under the Participation Agreement or the Equipment Notes (other than amounts specified in clauses “second” and “third” below); and in case the aggregate amount
so to be distributed shall be insufficient to pay as aforesaid in clauses (i) and (ii), then ratably, without priority of one over the other, in proportion to the amounts owed each hereunder; 

second, after giving effect to clause “first” above, so much of such payments or amounts remaining as is
required to reimburse the then existing or prior Noteholders for payments made pursuant to Section 5.03 (to the extent not previously reimbursed) shall be distributed to such then existing or prior Noteholders ratably, without priority of one
over the other, in accordance with the amount of the payment or payments made by each such then existing or prior Noteholder pursuant to Section 5.03; 

third, after giving effect to clause “second” above: 

(i) so much of such payments or amounts remaining as is required to pay in full the aggregate unpaid principal amount of all
Series AA Equipment Notes, and the accrued but unpaid interest and other amounts due thereon and all other Secured Obligations in respect of the Series AA Equipment Notes to the date of distribution, shall be distributed to Noteholders of Series AA
Equipment Notes, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that 

  

					
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(x) the aggregate unpaid principal amount of all Series AA Equipment Notes held by each holder thereof plus the accrued but unpaid interest and other amounts due in respect thereof
hereunder or thereunder to the date of distribution bears to (y) the aggregate unpaid principal amount of all Series AA Equipment Notes held by all holders thereof plus the accrued but unpaid interest and other amounts due thereon to the
date of distribution; 
 (ii) after giving effect to paragraph (i) above, so much of such payments or amounts remaining
as is required to pay in full the aggregate unpaid principal amount of all Series A Equipment Notes, and the accrued but unpaid interest and other amounts due thereon and all other Secured Obligations in respect of the Series A Equipment Notes to
the date of distribution, shall be distributed to the Noteholders of Series A Equipment Notes, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the
other, in the proportion that (x) the aggregate unpaid principal amount of all Series A Equipment Notes held by each holder thereof plus the accrued but unpaid interest and other amounts due in respect thereof hereunder or thereunder to
the date of distribution bears to (y) the aggregate unpaid principal amount of all Series A Equipment Notes held by all holders thereof plus the accrued but unpaid interest and other amounts due thereon to the date of distribution; 

(iii) after giving effect to paragraph (ii) above, so much of such payments or amounts remaining as is required to pay in
full the aggregate unpaid principal amount of all Series B Equipment Notes, and the accrued but unpaid interest and other amounts due thereon and all other Secured Obligations in respect of the Series B Equipment Notes to the date of distribution,
shall be distributed to the Noteholders of Series B Equipment Notes, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion
that (x) the aggregate unpaid principal amount of all Series B Equipment Notes held by each holder thereof plus the accrued but unpaid interest and other amounts due in respect thereof hereunder or thereunder to the date of distribution
bears to (y) the aggregate unpaid principal amount of all Series B Equipment Notes held by all holders thereof plus the accrued but unpaid interest and other amounts due thereon to the date of distribution; 

  

					
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 (iv) after giving effect to paragraph (iii) above (and except as otherwise
provided in an amendment to this Indenture pursuant to paragraph (xv) or (xvi) of Section 9.01), so much of such payments or amounts remaining as is required to pay in full the aggregate unpaid principal amount of all Additional Series
Equipment Notes of a specified Series, and the accrued but unpaid interest and other amounts due thereon and all other Secured Obligations in respect of the Additional Series Equipment Notes of such Series to the date of distribution, shall be
distributed to the Noteholders of Additional Series Equipment Notes of such Series, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the
proportion that (x) the aggregate unpaid principal amount of all Additional Series Equipment Notes of such Series held by each holder thereof plus the accrued but unpaid interest and other amounts due in respect thereof hereunder or
thereunder to the date of distribution bears to (y) the aggregate unpaid principal amount of all Additional Series Equipment Notes of such Series held by all holders thereof plus the accrued but unpaid interest and other amounts due
thereon to the date of distribution, provided that this paragraph (iv) shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; 

(v) after giving effect to paragraph (iv) above, so much of such payments or amounts remaining as is required to pay in
full the amounts then due and covered by clause “first” of Section 3.03 of each Defaulted Operative Indenture shall be distributed to the Related Loan Trustee under each respective Defaulted Operative Indenture, and in case the
aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in accordance with the priorities and prorations in such clause “first”; 

(vi) after giving effect to paragraph (v) above, so much of such payments or amounts remaining as is required to pay in
full the amounts then due and covered by clause “second” of Section 3.03 of each Defaulted Operative Indenture shall be distributed to the Related Loan Trustee under each respective Defaulted Operative Indenture, and in case the
aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in accordance with the priorities and prorations in such clause “second”; 

(vii) after giving effect to paragraph (vi) above, so much of such payments or amounts remaining as is required to pay in
full the aggregate 

  

					
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amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest
and any other overdue amounts) then due under all Related Series AA Equipment Notes, if any, issued under any Defaulted Operative Indenture shall be distributed to the Related Loan Trustee under each respective Defaulted Operative Indenture under
which any Related Series AA Equipment Notes are outstanding, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that
(x) the amount of such payment or payments then due under all Related Series AA Equipment Notes issued under each Defaulted Operative Indenture bears to (y) the aggregate amount of the payments then due under all Related
Series AA Equipment Notes issued under all Defaulted Operative Indentures; 
 (viii) after giving effect to paragraph
(vii) above, so much of such payments or amounts remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the
extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Related Series A Equipment Notes, if any, issued under any Defaulted Operative Indenture shall be distributed to the Related Loan Trustee
under each respective Defaulted Operative Indenture under which any Related Series A Equipment Notes are outstanding, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without
priority of one over the other, in the proportion that (x) the amount of such payment or payments then due under all Related Series A Equipment Notes issued under each Defaulted Operative Indenture bears to (y) the aggregate
amount of the payments then due under all Related Series A Equipment Notes issued under all Defaulted Operative Indentures; 

(ix) after giving effect to paragraph (viii) above, so much of such payments or amounts remaining as is required to pay in
full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts)
then due under all Related Series B Equipment Notes, if any, issued under any Defaulted Operative Indenture shall be distributed to the Related Loan Trustee under each respective Defaulted Operative Indenture under which any Related Series B
Equipment Notes are outstanding, and in case the aggregate amount so to be distributed shall 

  

					
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be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that (x) the amount of such payment or payments then due under all
Related Series B Equipment Notes issued under each Defaulted Operative Indenture bears to (y) the aggregate amount of the payments then due under all Related Series B Equipment Notes issued under all Defaulted Operative Indentures; 

(x) after giving effect to paragraph (ix) above (and except as otherwise provided in amendments to the applicable Related
Indentures pursuant to paragraph (xv) or (xvi) of Section 9.01 thereof), so much of such payments or amounts remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well
as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Related Additional Series Equipment Notes of a specified Series, if any, issued
under any Defaulted Operative Indenture shall be distributed to the Related Loan Trustee under each respective Defaulted Operative Indenture under which any Related Additional Series Equipment Notes of such Series are outstanding, and in case the
aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that (x) the amount of such payment or payments then due under all Related
Additional Series Equipment Notes of such Series issued under each Defaulted Operative Indenture bears to (y) the aggregate amount of the payments then due under all Related Additional Series Equipment Notes of such Series issued under
all Defaulted Operative Indentures, provided that this paragraph (x) shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and 

(xi) after giving effect to paragraph (x) above, if any Related Equipment Note is outstanding, any of such payments or
amounts remaining and any invested Permitted Investments shall be held by the Loan Trustee in an Eligible Account in accordance with the provisions of Section 3.07 (and invested as provided in Section 5.06) as additional security for the
Related Secured Obligations, and such amounts (and any investment earnings thereon) shall be distributed from time to time in accordance with the foregoing provisions of this clause “third” as and to the extent any such Related Secured
Obligation shall at any time and from time to time become due and remain unpaid after the giving of any required notice and the expiration of any applicable grace period; and, upon the payment in full of all such Related Secured Obligations the
balance, if any, of any such remaining amounts and investment earnings 

  

					
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thereon shall be applied as provided in clause “fourth” of this Section 3.03; and 

fourth, the balance, if any, of such payments or amounts remaining thereafter shall be distributed to the Company. 

No Make-Whole Amount shall be payable on the Equipment Notes as a consequence of or in connection with an Event of Default or the acceleration
of the Equipment Notes. 
 Section 3.04 Certain Payments. 

(a) Any payments received by the Loan Trustee for which provision as to the application thereof is made in this Indenture other than in this
Article III shall be applied as provided in those provisions. Without limiting the foregoing, any payments received by the Loan Trustee which are payable to the Company pursuant to any of the provisions of this Indenture other than those set forth
in this Article III (including Sections 5.06, 7.05 and 7.06) shall be so paid to the Company. Any payments received by the Loan Trustee for which no provision as to the application thereof is made in this Indenture and for which such provision is
made in any other Operative Document shall be applied forthwith to the purpose for which such payment was made in accordance with the terms of such other Operative Document. 

(b) Notwithstanding anything to the contrary contained in this Article III, the Loan Trustee will distribute promptly upon receipt any
indemnity payment received by it from the Company pursuant to Section 4.02 of the Participation Agreement payable to (i) WTNA and the Loan Trustee, (ii) the Subordination Agent, (iii) any separate or
additional trustee appointed pursuant to Section 8.02, (iv) the Pass Through Trustees, (v) any Liquidity Provider or (vi) any other Indenture Indemnitee, in each case, directly to the Person entitled thereto.
Any payment received by the Loan Trustee from the Company under Section 2.14 shall be distributed to the Subordination Agent to be distributed in accordance with Section 2.04(c) of the Intercreditor Agreement. 

(c) Any payments received by the Loan Trustee not constituting part of the Collateral or otherwise for which no provision as to the application
thereof is made in any Operative Document shall be distributed by the Loan Trustee to the Company. Further, and except as otherwise provided in Sections 3.02 and 3.03, all payments received and amounts realized by the Loan Trustee with respect to
the Aircraft, to the extent received or realized at any time after payment in full of all Secured Obligations, as well as any 

  

					
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amounts remaining as part of the Collateral after the occurrence of such payment in full, shall be distributed by the Loan Trustee to the Company. 

Section 3.05 Payments to the Company. Any amounts distributed hereunder by the Loan Trustee to the Company shall be paid to the
Company (within the time limits contemplated by Section 2.03) by wire transfer of funds of the type received by the Loan Trustee at such office and to such account or accounts of such entity or entities as shall be designated by notice from the
Company to the Loan Trustee from time to time. 
 Section 3.06 Cooperation. Prior to making any distribution under this Article
III, the Loan Trustee shall consult with Related Loan Trustees to determine amounts payable with respect to the Related Secured Obligations. The Loan Trustee shall cooperate with Related Loan Trustees and shall provide such information as shall be
reasonably requested by each Related Loan Trustee to enable such Related Loan Trustee to determine amounts distributable under Article III of its Related Indenture. 

Section 3.07 Securities Account. In furtherance of the provisions of Section 3.03, WTNA agrees to act as an Eligible
Institution under this Indenture in accordance with the provisions of this Indenture (in such capacity, the “Securities Intermediary”). Except in its capacity as Loan Trustee, WTNA waives any claim or lien against any Eligible
Account it may have, by operation of law or otherwise, for any amount owed to it by the Company. The Securities Intermediary hereby agrees that, notwithstanding anything to the contrary in this Indenture, (i) any amounts to be held by
the Loan Trustee pursuant to paragraph (ix) of clause “third” of Section 3.03 and any investment earnings thereon or other Permitted Investments in which such amounts are invested will be credited to an Eligible Account (the
“Securities Account”) for which it is a “securities intermediary” (as defined in Section 8-102(a)(14) of the NY UCC) and the Loan Trustee is the “entitlement holder”
(as defined in Section 8-102(a)(7) of the NY UCC) of the “security entitlement” (as defined in Section 8-102(a)(17) of the NY UCC) with respect to
each “financial asset” (as defined in Section 8-102(a)(9) of the NY UCC) credited to such Eligible Account, (ii) all such amounts, Permitted Investments and all other property
acquired with cash credited to the Securities Account will be credited to the Securities Account, (iii) all items of property (whether cash, investment property, Permitted Investments, other investments, securities, instruments or other
property) credited to the Securities Account will be treated as a “financial asset” under Article 8 of the NY UCC, (iv) its “securities intermediary’s jurisdiction” (as defined in
Section 8-110(e) of the NY UCC) with respect to the Securities Account is the State of New York, and (v) all securities, instruments and other property in order or registered form and credited
to the Securities Account shall be payable to or to the order of, or registered in the name of, the Securities Intermediary or shall be indorsed to the Securities Intermediary or in blank, and in no case whatsoever shall any financial asset credited
to the Securities Account be 

  

					
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registered in the name of the Company, payable to or to the order of the Company or specially indorsed to the Company except to the extent the foregoing have been specially endorsed by the
Company to the Securities Intermediary or in blank. The Loan Trustee agrees that it will hold (and will indicate clearly in its books and records that it holds) its “security entitlements” to the “financial assets” credited to
the Securities Account in trust for the benefit of the Noteholders, each Indenture Indemnitee and each Related Indenture Indemnitee as set forth in this Indenture. The Company acknowledges that, by reason of the Loan Trustee being the
“entitlement holder” in respect of the Securities Account as provided above, the Loan Trustee shall have the sole right and discretion, subject only to the terms of this Indenture, to give all “entitlement orders” (as defined in Section 8-102(a)(8) of the NY UCC) with respect to the Securities Account and any and all financial assets and other property credited thereto to the exclusion of the Company. If any Person asserts any Lien
(including, without limitation, any writ, garnishment, judgment, warrant of attachment, execution or similar process) against the Securities Account or any financial asset carried therein, WTNA will promptly notify the Loan Trustee and the Company
thereof. 
 ARTICLE IV 

Events of Default; Remedies of the Loan Trustee 

Section 4.01 Events of Default. Each of the following events constitutes an “Event of Default” whether such event is
voluntary or involuntary or comes about or is effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body and each such
Event of Default is deemed to exist and continue so long as, but only as long as, it has not been remedied or explicitly waived: 

(a) the Company fails to make any payment of principal amount of, Make-Whole Amount, if any, or interest on, any Equipment Note
within 15 days after such payment is due; 
 (b) the Company fails to make payment when the same is due of any amount (other
than amounts referred to in Section 4.01(a)) due hereunder, under any Equipment Note or under any other Operative Document, and such failure continues unremedied for 30 days after the receipt by the Company of written notice thereof from the
Loan Trustee or any Noteholder; 

  

					
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 (c) the Company fails to carry and maintain (or cause to be maintained) insurance
or indemnity on or with respect to the Aircraft in accordance with the provisions of Section 7.06; provided that no such failure to carry and maintain insurance shall constitute an Event of Default until the earlier of
(i) the date such failure has continued unremedied for a period of 30 days after receipt by the Loan Trustee of the notice of cancellation referred to in Section 7.06 or (ii) the date such insurance is not in effect as
to the Loan Trustee; 
 (d) the Company fails to perform or observe any other covenant, condition or agreement to be
performed or observed by it under any Operative Document, and such failure continues unremedied for a period of 60 days after receipt by the Company of written notice thereof from the Loan Trustee or any Noteholder; provided that, if such
failure is capable of being remedied, no such failure shall constitute an Event of Default for a period of one year after such notice is received by the Company so long as the Company is diligently proceeding to remedy such failure; 

(e) any representation or warranty made by the Company in any Operative Document was incorrect in any material respect at the
time made, and such incorrectness continues to be material to the transactions contemplated hereby and continues unremedied for a period of 60 days after receipt by the Company of written notice thereof from the Loan Trustee; provided that,
if such incorrectness is capable of being remedied, no such incorrectness shall constitute an Event of Default for a period of one year after such notice is received by the Company so long as the Company is diligently proceeding to remedy such
incorrectness; 
 (f) the Company consents to the appointment of or the taking of possession by a receiver, trustee or
liquidator in respect of a substantial part of its property, admits in writing its inability to pay its debts generally as they come due or makes a general assignment for the benefit of its creditors; 

(g) the Company files a voluntary petition in bankruptcy or a voluntary petition or an answer seeking reorganization,
liquidation or other relief as a debtor in a case under any bankruptcy laws or insolvency laws (as in effect at such time) or an answer admitting the material allegations of a petition filed against the Company as a debtor in any such case, or the
Company as a debtor seeks relief by voluntary petition, answer or consent under the provisions of any other bankruptcy or other similar law providing for the reorganization or winding-

  

					
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up of corporations (as in effect at such time), or the Company seeks an agreement, composition, extension or adjustment with its creditors under such laws; 

(h) an order, judgment or decree is entered by any court of competent jurisdiction appointing, without the consent of the
Company, a receiver, trustee or liquidator of the Company or sequestering any substantial part of its property, or granting any other relief in respect of the Company as a debtor under any bankruptcy laws or insolvency laws (as in effect at such
time), and any such order, judgment or decree of appointment or sequestration remains in force undismissed, unstayed or unvacated for a period of 90 days after the date of entry thereof; 

(i) a petition against the Company as a debtor in a case under the federal bankruptcy laws or other insolvency laws (as in
effect at such time) is filed and not withdrawn or dismissed within 90 days thereafter, or if, under the provisions of any law providing for reorganization or winding-up of corporations that may apply to the
Company, any court of competent jurisdiction assumes jurisdiction, custody or control of the Company or of any substantial part of its property and such jurisdiction, custody or control remains in force unrelinquished, unstayed or unterminated for a
period of 90 days; or 
 (j) an “Event of Default” (as defined in any Related Indenture) shall have occurred and be
continuing; 
 provided that notwithstanding anything to the contrary contained in this Section 4.01, any failure of the Company to perform or
observe any covenant, condition or agreement shall not constitute an Event of Default if such failure arises by reason of an event referred to in the definition of “Event of Loss” so long as the Company is continuing to comply with
all of the terms of Section 7.05. 
 Section 4.02 Remedies. 

(a) If an Event of Default has occurred and is continuing and so long as the same shall continue unremedied, then and in every such case the
Loan Trustee may, and upon the written instructions of a Majority in Interest of Noteholders, the Loan Trustee shall, do one or more of the following to the extent permitted by, and subject to compliance with the requirements of, applicable law then
in effect (provided that during any period the Airframe or any Engine is subject to the CRAF Program and is in possession of or being operated under the direction of the United States government or an

  

					
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agency or instrumentality of the United States, the Loan Trustee shall not, on account of any Event of Default, be entitled to exercise or pursue any of the powers, rights or remedies described
in this Section 4.02 in such manner as to limit the Company’s control under this Indenture (or any Permitted Lessee’s control under any Lease) of the Airframe or such Engine, unless at least 60 days’ (or such lesser period as may
then be applicable under the CRAF Program of the United States government) prior written notice of default hereunder has been given by the Loan Trustee by registered or certified mail to the Company (and any such Permitted Lessee) with a copy
addressed to the Contracting Office Representative or other appropriate person for the Air Mobility Command of the United States Air Force under any contract with the Company (or such Permitted Lessee) relating to the Aircraft): 

(i) declare by written notice to the Company all the Equipment Notes to be due and payable, whereupon the aggregate unpaid
principal amount of all Equipment Notes then outstanding, together with accrued but unpaid interest thereon, and other amounts due thereunder (but without Make-Whole Amount), shall immediately become due and payable without presentment, demand,
protest or other notice, all of which are hereby waived; provided that if an Event of Default referred to in Section 4.01(f), (g), (h) or (i) has occurred and is continuing, then and in every such case the unpaid principal
amount of the Equipment Notes then outstanding, together with accrued but unpaid interest thereon, and all other amounts due thereunder (but without Make-Whole Amount) shall immediately and without further act become due and payable without
presentment, demand, protest or notice, all of which are hereby waived; and, following such declaration or deemed declaration: 

(ii) (A) cause the Company, upon the demand by notice of the Loan Trustee, at the Company’s expense, to
deliver promptly, and the Company shall deliver promptly, all or such part of the Airframe or any Engine as the Loan Trustee so demands to the Loan Trustee or its order, or, if the Company has failed to so deliver the Airframe or any Engine after
such demand, the Loan Trustee, at its option, may enter upon the premises where all or any part of the Airframe or any Engine are located and take immediate possession of and remove the same together with any engine which is not an Engine but which
is installed on the Airframe, subject to all of the rights of the owner, lessor, lienor or secured party of such engine; provided that the Airframe with an engine (which is not an Engine) installed thereon may be flown or returned only to a
location within the continental United States, and such engine shall be held at the expense of the Company for the account of any such owner, lessor, lienor, secured party or, if such engine is owned by the Company, may at the option of the Company
with the consent of the Loan Trustee (which will not be unreasonably withheld) or at the option of the Loan Trustee with the consent of the Company (which will not 

  

					
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be unreasonably withheld), be exchanged with the Company for an Engine in accordance with the provisions of Section 7.05(b); (B) sell all or any part of the Airframe and any
Engine at public or private sale, whether or not the Loan Trustee at the time has possession thereof, as the Loan Trustee may determine, or otherwise dispose of, hold, use, operate, lease to others or keep idle all or any part of the Airframe or
such Engine as the Loan Trustee, in its sole discretion, determines, all free and clear of any rights or claims of the Company, and the proceeds of such sale or disposition shall be applied as set forth in Section 3.03; or
(C) exercise any other remedy of a secured party under the Uniform Commercial Code of the State of New York (whether or not in effect in the jurisdiction in which enforcement is sought); provided that, notwithstanding anything to
the contrary set forth herein or in any other Operative Document, (i) as permitted by Article 15 of the Cape Town Convention, the provisions of Chapter III of the Cape Town Convention are hereby excluded and made inapplicable to this
Indenture and the other Operative Documents, except for those provisions of such Chapter III that cannot be derogated from; and (ii) as permitted by Article IV(3) of the Aircraft Protocol, the provisions of Chapter II of the Aircraft
Protocol are hereby excluded and made inapplicable to this Indenture and the other Operative Documents, except for (x) Article XVI of the Aircraft Protocol and (y) those provisions of such Chapter II that cannot be derogated
from. In furtherance of the foregoing, the parties hereto agree that the exercise of remedies hereunder and the other Operative Documents is subject to other applicable law, including without limitation, the NY UCC and the Bankruptcy Code, and that
nothing herein derogates from the rights of the Company or the Loan Trustee under or pursuant to such other applicable law, including without limitation, the NY UCC or the Bankruptcy Code. 

Upon every such taking of possession of Collateral under this Section 4.02, the Loan Trustee may, from time to time, at the expense of
the Collateral, make all such expenditures for maintenance, insurance, repairs, alterations, additions and improvements to and of the Collateral as it deems necessary to cause the Collateral to be in such condition as required by the provisions of
this Indenture. In each such case, the Loan Trustee may maintain, use, operate, store, insure, lease, control, manage or dispose of the Collateral and may exercise all rights and powers of the Company relating to the Collateral as the Loan Trustee
reasonably deems best, including the right to enter into any and all such agreements with respect to the maintenance, use, operation, storage, insurance, leasing, control, management or disposition of the Collateral or any part thereof as the Loan
Trustee may reasonably determine; and the Loan Trustee shall be entitled to collect and receive directly all tolls, rents, revenues, issues, income, products and profits of the Collateral and every part thereof without prejudice, however, to the
rights of the Loan Trustee under any provision of this Indenture to collect and receive all cash held by, or required to be deposited with the Loan Trustee hereunder. Such tolls, 

  

					
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rents, revenues, issues, income, products and profits shall be applied to pay the expenses of the use, operation, storage, insurance, leasing, control, management or disposition of the
Collateral, and of all maintenance, repairs, replacements, alterations, additions and improvements, and to make all payments that the Loan Trustee is required or elects to make, if any, for Taxes, insurance or other proper charges assessed against
or otherwise imposed upon the Collateral or any part thereof, and all other payments which the Loan Trustee is required or expressly authorized to make under any provision of this Indenture, as well as just and reasonable compensation for the
services of the Loan Trustee, and shall otherwise be applied in accordance with Article III. If an Event of Default has occurred and is continuing and the Equipment Notes either have been accelerated pursuant to this Section 4.02 or have become
due at maturity and the Loan Trustee is entitled to exercise rights hereunder, at the request of the Loan Trustee, the Company shall promptly execute and deliver to the Loan Trustee such instruments of title and other documents as the Loan Trustee
reasonably deems necessary or advisable to enable the Loan Trustee or an agent or representative designated by the Loan Trustee, at such time or times and place or places as the Loan Trustee specifies, to obtain possession of all or any part of the
Collateral to which the Loan Trustee at the time is entitled hereunder. If the Company for any reason fails to execute and deliver such instruments and documents after such request by the Loan Trustee, the Loan Trustee may seek a judgment conferring
on the Loan Trustee the right to immediate possession and requiring the Company to execute and deliver such instruments and documents to the Loan Trustee, to the entry of which judgment the Company hereby specifically consents to the fullest extent
it may lawfully do so. All actual and reasonable expenses of obtaining such judgment or of pursuing, searching for and taking such property shall, until paid, be secured by the Lien of this Indenture. 

(b) The Loan Trustee shall give the Company at least 30 days’ prior written notice of any public sale or of the date on or after which any
private sale will be held, which notice the Company hereby agrees to the extent permitted by applicable law is reasonable notice. Any Noteholder or Noteholders shall be entitled to bid for and become the purchaser of any Collateral offered for sale
pursuant to this Section 4.02 and to credit against the purchase price bid at such sale by such Noteholders all or any part of the unpaid amounts owing to such Noteholders under the Operative Documents and secured by the Lien of this Indenture
(but only to the extent that such purchase price would have been paid to such Noteholders pursuant to Article III if such purchase price were paid in cash and the foregoing provision of this Section 4.02(b) were not given effect). The Loan
Trustee may exercise such right without possession or production of the Equipment Notes or proof of ownership thereof, and as a representative of the Noteholders may exercise such right without notice to the Noteholders as party to any suit or
proceeding relating to the foreclosure of any Collateral. The Company may also bid for and become the purchaser of any Collateral offered for sale pursuant to this Section 4.02. 

  

					
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 (c) To the extent permitted by applicable law, while an Event of Default has occurred and is
continuing, the Company irrevocably appoints the Loan Trustee the true and lawful attorney-in-fact of the Company (which appointment is coupled with an interest) in its
name and stead and on its behalf, for the purpose of effectuating any sale, assignment, transfer or delivery for the enforcement of the Lien of this Indenture, whether pursuant to foreclosure or power of sale, or otherwise, to execute and deliver
all such bills of sale, assignments and other instruments as may be necessary or appropriate, with full power of substitution, the Company hereby ratifying and confirming all that such attorney or any substitute does by virtue hereof in accordance
with applicable law; provided that if so requested by the Loan Trustee or any purchaser, the Company shall ratify and confirm any such sale, assignment or transfer of delivery, by executing and delivering to the Loan Trustee or such purchaser
all bills of sale, assignments, releases and other proper instruments to effect such ratification and confirmation as may reasonably be designated in any such request. 

(d) At any time after the Loan Trustee has declared the unpaid principal amount of all Equipment Notes then outstanding to be due and payable,
or all Equipment Notes shall have become due and payable as provided in the proviso to Section 4.02(a)(i), and, in either case, prior to the sale of any part of the Collateral pursuant to this Article IV, a Majority in Interest of Noteholders,
by written notice to the Company and the Loan Trustee, may rescind and annul such declaration, whether made by the Loan Trustee on its own accord or as directed or deemed declaration, and its consequences if: (i) there has been paid to
or deposited with the Loan Trustee an amount sufficient to pay all overdue installments of principal amount of, and interest on, the Equipment Notes, and all other amounts owing under the Operative Documents, that have become due otherwise than by
such declaration of acceleration and (ii) all other Events of Default, other than nonpayment of principal amount or interest on the Equipment Notes that have become due solely because of such acceleration, have been either cured or
waived; provided that no such rescission or annulment shall extend to or affect any subsequent default or Event of Default or impair any right consequent thereon. 

(e) Notwithstanding anything contained herein, (i) so long as the Pass Through Trustee under any Pass Through Trust Agreement or
the Subordination Agent on its behalf is a Noteholder, the Loan Trustee will not be authorized or empowered to acquire title to any Collateral or take any action with respect to any Collateral so acquired by it if such acquisition or action would
cause any Pass Through Trust to fail to qualify as a “grantor trust” for U.S. federal income tax purposes, and (ii) the Loan Trustee will not take any action that would violate Section 4.01(a)(ii) or 4.01(a)(iii) of the
Intercreditor Agreement. 

  

					
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 Section 4.03 Remedies Cumulative. To the extent permitted under applicable law, each
and every right, power and remedy specifically given to the Loan Trustee herein or otherwise in this Indenture shall be cumulative and shall be in addition to every other right, power and remedy specifically given herein or now or hereafter existing
at law, in equity or by statute, and each and every right, power and remedy whether specifically given herein or otherwise existing may be exercised from time to time and as often and in such order as may be deemed expedient by the Loan Trustee, and
the exercise or the beginning of the exercise of any power or remedy shall not be construed to be a waiver of the right to exercise at the same time or thereafter any other right, power or remedy. No delay or omission by the Loan Trustee in the
exercise of any right, remedy or power or in the pursuance of any remedy shall, to the extent permitted by applicable law, impair any such right, power or remedy or be construed to be a waiver of any default on the part of the Company or to be an
acquiescence therein. 
 Section 4.04 Discontinuance of Proceedings. In case the Loan Trustee has instituted any proceedings to
enforce any right, power or remedy under this Indenture by foreclosure, entry or otherwise, and such proceedings have been discontinued or abandoned for any reason or have been determined adversely to the Loan Trustee, then and in every such case
the Company and the Loan Trustee shall, subject to any determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral, and all rights, remedies and powers of the Loan Trustee shall
continue as if no such proceedings had been undertaken (but otherwise without prejudice). 
 Section 4.05 Waiver of Past
Defaults. Upon written instruction from a Majority in Interest of Noteholders, the Loan Trustee shall waive any past default hereunder and its consequences, and upon any such waiver such default shall cease to exist and any Event of Default
arising therefrom shall be deemed to have been cured for every purpose of this Indenture and the other Operative Documents, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon; provided
that in the absence of written instructions from each of the affected Noteholders, the Loan Trustee shall not waive any default (i) in the payment of the principal amount, Make-Whole Amount, if any, or interest due under any Equipment
Note then outstanding (other than with the consent of the holder thereof), or (ii) in respect of a covenant or provision hereof which, under Article IX, cannot be modified or amended without the consent of each such affected Noteholder.

 Section 4.06 Noteholders May Not Bring Suit Except Under Certain Conditions. A Noteholder of any Series shall not have the
right to institute any suit, action or proceeding at law or in equity or otherwise with respect to this Indenture or the Equipment Notes or otherwise, or for the appointment of a receiver or for the 

  

					
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enforcement of any other remedy under this Indenture or the Equipment Notes or otherwise, unless: 

(1) such Noteholder previously shall have given written notice to the Loan Trustee of a continuing Event of Default; 

(2) a Majority in Interest of Noteholders shall have requested the Loan Trustee in writing to institute such action, suit or
proceeding and shall have offered to the Loan Trustee indemnity as provided in Section 5.03; 
 (3) the Loan Trustee
shall have refused or neglected to institute any such action, suit or proceeding for 60 days after receipt of such notice, request and offer of indemnity; and 

(4) no direction inconsistent with such written request shall have been given to the Loan Trustee during such 60-day period by a Majority in Interest of Noteholders. 
 Except to the extent provided in the
Intercreditor Agreement or herein, it is understood and intended that no one or more of the Noteholders of any Series shall have any right in any manner whatsoever hereunder or under the Equipment Notes of such Series to (i) surrender,
impair, waive, affect, disturb or prejudice any Collateral, or the Lien of this Indenture on any Collateral, or the rights of the Noteholders of such Series, (ii) obtain or seek to obtain priority over or preference with respect to any
other such Noteholder of such Series or (iii) enforce any right under this Indenture or the Equipment Notes of such Series, except in the manner provided in this Indenture and for the equal, ratable and common benefit of all Noteholders
of such Series subject to the provisions of this Indenture. 
 Section 4.07 Appointment of a Receiver. To the extent permitted
by applicable law, if an Event of Default shall have occurred and be continuing, and the Equipment Notes either shall have been accelerated pursuant to Section 4.02 or have become due at maturity, the Loan Trustee shall, as a matter of right,
be entitled to the appointment of a receiver (who may be the Loan Trustee or any successor or nominee thereof) for all or any part of the Collateral, whether such receivership be incidental to a proposed sale of the Collateral or the taking of
possession thereof or otherwise, and, to the extent permitted by applicable law, the Company hereby consents to the appointment of such a receiver and will not oppose any such appointment. Any receiver appointed for all or any

  

					
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part of the Collateral shall be entitled to exercise all the rights and powers of the Loan Trustee with respect to the Collateral. 

ARTICLE V 
 Duties of the Loan
Trustee 
 Section 5.01 Notice of Event of Default. If the Loan Trustee has knowledge of an Event of Default or of a default
arising from a failure by the Company to pay when due any payment of principal amount, interest on, or Make-Whole Amount, if any, due and payable under any Equipment Note, the Loan Trustee shall promptly give notice thereof to the Company, each
Liquidity Provider and each Noteholder. Subject to the terms of Sections 4.02, 4.05, 5.02 and 5.03, the Loan Trustee shall take such action, or refrain from taking such action, with respect to such default or Event of Default (including with respect
to the exercise of any rights or remedies hereunder) as the Loan Trustee is instructed in writing by a Majority in Interest of Noteholders. Subject to the provisions of Section 5.03, if the Loan Trustee does not receive instructions as above
provided within 20 Business Days after giving notice of such default or Event of Default to the Noteholders, the Loan Trustee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such
action, or refrain from taking such action with respect to such default or Event of Default as it reasonably determines to be advisable in the best interests of the Noteholders, but shall be under no duty to take or refrain from taking any action.
The Loan Trustee shall use the same degree of care and skill in connection therewith as a prudent person would use under the circumstances in the conduct of his or her own affairs. The Loan Trustee may not sell the Airframe or any Engine without the
consent of a Majority in Interest of Noteholders. 
 For all purposes of this Indenture, in the absence of actual knowledge, the Loan
Trustee shall not be deemed to have knowledge of a default or an Event of Default unless notified in writing by the Company or one or more Noteholders; and “actual knowledge” (as used in the foregoing clause) of the Loan Trustee shall mean
actual knowledge of an officer in the Corporate Trust Office of the Loan Trustee; provided that the Loan Trustee is deemed to have actual knowledge of (i) the failure of the Company to pay any principal amount of, or interest on,
the Equipment Notes directly to the Loan Trustee when the same shall become due or (ii) the failure of the Company to maintain insurance as required under Section 7.06 if the Loan Trustee receives written notice thereof from an
insurer or insurance broker. 

  

					
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 Section 5.02 Action upon Instructions; Certain Rights and Limitations. Subject to the
terms of Article IV and this Article V, upon the written instructions at any time of a Majority in Interest of Noteholders, the Loan Trustee shall promptly (i) give such notice, direction, consent, waiver or approval or exercise such
right, remedy or power hereunder in respect of all or any part of the Collateral or (ii) take such other action permitted hereunder, in each case, as is specified in such instructions. 

The Loan Trustee will cooperate with the Company in connection with the recording, filing,
re-recording and refiling of this Indenture and any supplements to it and any financing statements or other documents as is necessary to maintain the perfection hereof or otherwise protect the security
interests created hereby. The Loan Trustee shall furnish to the Company upon request such information and copies of such documents as the Loan Trustee may have and as are necessary for the Company to perform its duties under Article II. 

Section 5.03 Indemnification. The Loan Trustee shall not be required to take any action or refrain from taking any action under
Section 5.01 (other than the first sentence thereof) or 5.02 or Article IV unless it shall have received indemnification against any risks incurred in connection therewith in form and substance reasonably satisfactory to it, including, without
limitation, adequate advances against costs that may be actually incurred by it in connection therewith. The Loan Trustee shall not be required to take any action under Section 5.01 (other than the first sentence thereof) or 5.02 or Article IV,
nor shall any other provision of any Operative Document be deemed to impose a duty on the Loan Trustee to take any action, if the Loan Trustee shall have been advised by outside counsel that such action is contrary to the terms hereof or is
otherwise contrary to applicable law. 
 Section 5.04 No Duties Except as Specified in Indenture or Instructions. The Loan
Trustee shall not have any duty or obligation to manage, control, lease, use, sell, operate, store, dispose of or otherwise deal with the Aircraft or any other part of the Collateral, or to otherwise take or refrain from taking any action under, or
in connection with, this Indenture, except as expressly provided by the terms of this Indenture or the Participation Agreement or as expressly provided in written instructions received pursuant to the terms of Section 5.01 or 5.02; and no
implied duties or obligations shall be read into this Indenture against the Loan Trustee. 
 Section 5.05 No Action Except under
Indenture or Instructions. The Loan Trustee will not manage, control, use, sell, lease, operate, store, dispose of or otherwise deal with the Aircraft or any other part of the Collateral except in accordance with the

  

					
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powers granted to, or the authority conferred upon, the Loan Trustee pursuant to this Indenture and in accordance with the express terms hereof. 

Section 5.06 Investment of Amounts Held by the Loan Trustee. Any monies (including for the purpose of this Section 5.06 any
amounts held by the Loan Trustee pursuant to Section 3.02, 3.03 or 3.07 or pursuant to any provision of any other Operative Document providing for amounts to be held by the Loan Trustee which are not distributed pursuant to the other provisions
of Article III, or any cash received by the Loan Trustee pursuant to Section 7.05(c) or 7.06(d) or otherwise, or Permitted Investments purchased by the use of such cash pursuant to this Section 5.06 or any cash constituting the proceeds of
the maturity, sale or other disposition of any Permitted Investments) held by the Loan Trustee hereunder as part of the Collateral, until paid out by the Loan Trustee as herein provided, (i) subject to clause (ii) below and
Section 3.07, may be carried by the Loan Trustee on deposit with itself or on deposit to its account with any bank, trust company or national banking association incorporated or doing business under the laws of the United States or one of the
states thereof having combined capital and surplus and retained earnings of at least $75,000,000, and the Loan Trustee shall not have any liability for interest upon any such monies except as otherwise agreed in writing with the Company, or
(ii) at any time and from time to time, so long as no Event of Default shall have occurred and be continuing, at the request of the Company, shall be invested and reinvested in Permitted Investments as specified in such request (if such
investments are reasonably available for purchase) and sold, in any case at such prices, including accrued interest or its equivalent, as are set forth in such request, and, as provided in Section 3.07, such Permitted Investments shall be held
by the Loan Trustee in trust as part of the Collateral until so sold; provided that the Company shall upon demand pay to the Loan Trustee the amount of any loss realized upon maturity, sale or other disposition of any such Permitted
Investment and, so long as no Event of Default or Payment Default shall have occurred and be continuing, the Company shall be entitled to receive from the Loan Trustee, and the Loan Trustee shall promptly pay to the Company, any profit, income,
interest, dividend or gain realized upon maturity, sale or other disposition of any Permitted Investment. All Permitted Investments held by the Loan Trustee pursuant to this Section 5.06 shall be held pursuant to Section 3.07. If an Event
of Default or Payment Default shall have occurred and be continuing, any net income, profit, interest, dividend or gain realized upon maturity, sale or other disposition of any Permitted Investment shall be held as part of the Collateral and shall
be applied by the Loan Trustee at the same time, on the same conditions and in the same manner as the amounts in respect of which such income, profit, interest, dividend or gain was realized are required to be distributed in accordance with the
provisions hereof pursuant to which such amounts were required to be held. Subject to Section 3.03, at such time as there shall not be continuing any such Event of Default or Payment Default, such income, profit, interest, dividend or gain
shall be paid to the Company. In addition, subject to Section 3.03, if any moneys or investments are held by the Loan Trustee solely because 

  

					
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an Event of Default or Payment Default has occurred and is continuing, at such time as there shall not be continuing any such Event of Default or Payment Default, such moneys and investments
shall be paid to the Company. The Loan Trustee shall not be responsible for any losses on any investments or sales of Permitted Investments made pursuant to the procedure specified in this Section 5.06 other than by reason of its willful
misconduct or negligence. 
 ARTICLE VI 

The Loan Trustee 

Section 6.01 Acceptance of Trusts and Duties. WTNA accepts the trusts and duties hereby created and applicable to it and agrees to
perform such duties, but only upon the terms of this Indenture and agrees to receive, handle and disburse all monies received by it as the Loan Trustee constituting part of the Collateral in accordance with the terms. WTNA shall have no liability
hereunder except (a) for its own willful misconduct or negligence, (b) as provided in the fourth sentence of Section 2.03 and the last sentence of Section 5.06, (c) for liabilities that may result from
the inaccuracy of any representation or warranty of WTNA in the Participation Agreement or expressly made hereunder and (d) as otherwise expressly provided in the Operative Documents. 

For the avoidance of doubt, the Loan Trustee shall also be accountable in its capacity as Securities Intermediary with respect to the Security
Account, as set forth in Section 3.07. 
 Section 6.02 Absence of Certain Duties. Except in accordance with written
instructions furnished pursuant to Section 5.01, 5.02 or 6.06, and except as provided in, and without limiting the generality of, Sections 5.02, 5.03 and 5.04, the Loan Trustee shall have no duty (a) to see to any registration of
the Aircraft or any recording or filing of this Indenture or any other document, or to see to the maintenance of any such registration, recording or filing, (b) to see to any insurance on the Aircraft or to effect or maintain any such
insurance, whether or not the Company is in default with respect thereto, (c) to confirm, verify or inquire into the failure to receive any financial statements of the Company or (d) to inspect the Aircraft at any time or
ascertain or inquire as to the performance or observance of any of the Company’s covenants hereunder with respect to the Aircraft. 

Section 6.03 No Representations or Warranties as to the Documents. Except as provided in Article V of the Participation Agreement,
the Loan Trustee shall not be 

  

					
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deemed to have made any representation or warranty as to the validity, legality or enforceability of any Operative Document or any other document or instrument, or as to the correctness of any
statement (other than a statement by the Loan Trustee) contained herein or therein, except that the Loan Trustee hereby represents and warrants that each of said specified documents to which it is a party has been or will be duly executed and
delivered by one of its officers who is and will be duly authorized to execute and deliver such document on its behalf. 
 Section 6.04
No Segregation of Monies; No Interest. Subject to Section 5.06 and except as provided in Section 3.07, all moneys received by the Loan Trustee shall, until used or applied as herein provided, be held in trust for the purposes for
which they were received, but need not be segregated from other funds except to the extent required by mandatory provisions of applicable law, and neither the Loan Trustee nor any agent of the Loan Trustee shall be under any liability for interest
on any moneys received by it hereunder; provided that any payments received, or applied hereunder, by the Loan Trustee shall be accounted for by the Loan Trustee so that any portion thereof paid or applied pursuant hereto shall be
identifiable as to the source thereof. 
 Section 6.05 Reliance; Agents; Advice of Counsel. The Loan Trustee shall not incur any
liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion, bond or other document or paper reasonably believed by it to be genuine and reasonably believed by it to be
signed by the proper party or parties. The Loan Trustee may accept a copy of a resolution of the Board of Directors of any party to the Participation Agreement, certified by the Secretary or an Assistant Secretary of such party as duly adopted and
in full force and effect, as conclusive evidence that such resolution has been duly adopted and that the same is in full force and effect. As to any fact or matter the manner of ascertainment of which is not specifically described herein, the Loan
Trustee may for all purposes hereof rely on a certificate, signed by a duly authorized officer of the Company, as to such fact or matter, and such certificate shall constitute full protection to the Loan Trustee for any action taken or omitted to be
taken by it in good faith in reliance thereon. In the administration of the trusts hereunder, the Loan Trustee may (a) execute any of the trusts or powers hereof and perform its powers and duties hereunder directly or through agents
(including paying agents or registrars) or attorneys, and (b) at the expense of the Collateral, consult with counsel, accountants and other skilled Persons to be selected and retained by it; provided that, prior to retaining
agents (including paying agents or registrars), counsel, accountants or other skilled Persons, so long as no Event of Default exists, the Loan Trustee shall obtain the Company’s consent (such consent not to be unreasonably withheld). The Loan
Trustee shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled Persons acting within such counsel’s, accountants’ or

  

					
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Person’s area of competence (so long as the Loan Trustee shall have exercised reasonable care and judgment in selecting such Persons). 

Section 6.06 Instructions from Noteholders. In the administration of the trusts created hereunder, the Loan Trustee shall have the
right to seek instructions from a Majority in Interest of Noteholders should any provision of this Indenture appear to conflict with any other provision herein or any other Operative Document or Pass Through Document or should the Loan
Trustee’s duties or obligations hereunder be unclear, and the Loan Trustee shall incur no liability in refraining from acting until it receives such instructions. The Loan Trustee shall be fully protected for acting in accordance with any
instructions received under this Section 6.06. 
 ARTICLE VII 

Operating Covenants of the Company 

Section 7.01 Liens. The Company will not directly or indirectly create, incur, assume or suffer to exist any Lien on or with
respect to the Aircraft, its title thereto or any of its interest therein, except: 
 (a) the respective rights of the Loan
Trustee and the Company as provided in the Operative Documents, the Lien of this Indenture, the rights of any Permitted Lessee under a Lease permitted hereunder and the rights of any Person existing pursuant to the Operative Documents or the Pass
Through Documents; 
 (b) the rights of others under agreements or arrangements to the extent expressly permitted by this
Indenture; 
 (c) Loan Trustee Liens, Noteholder Liens and Other Party Liens; 

(d) Liens for Taxes either not yet overdue or being contested in good faith by appropriate proceedings so long as such
proceedings do not involve any material risk of the sale, forfeiture or loss of the Airframe or any Engine or the Loan Trustee’s interest therein or impair the Lien of this Indenture; 

  

					
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 (e) materialmen’s, mechanics’, workers’, repairmen’s,
hangarkeeper’s, landlords’, employees’ or other like Liens arising in the ordinary course of business (including those arising under maintenance agreements entered into in the ordinary course of business) securing obligations that
either are not yet overdue for a period of more than 60 days or are being contested in good faith by appropriate proceedings so long as such proceedings do not involve any material risk of the sale, forfeiture or loss of the Airframe or any Engine
or the Loan Trustee’s interest therein or materially impair the Lien of this Indenture; 
 (f) Liens arising out of any
judgment or award, so long as such judgment or award is, within 60 days after the entry thereof, discharged, vacated or reversed, or execution thereof stayed pending appeal or other judicial review or is discharged, vacated or reversed within 60
days after the expiration of such stay; 
 (g) any other Lien with respect to which the Company or any Permitted Lessee
provides a bond, cash collateral or other security adequate in the reasonable opinion of Loan Trustee; 
 (h) salvage or
similar rights of insurers under insurance policies maintained by Company; and 
 (i) Liens approved in writing by the Loan
Trustee with the consent of a Majority in Interest of Noteholders. 
 Liens described in clauses (a) through (i) above are
referred to herein as “Permitted Liens”. The Company shall promptly, at its own expense, take (or cause to be taken) such action as may be necessary duly to discharge (by bonding or otherwise) any Lien other than a Permitted Lien
arising at any time with respect to the Aircraft, its title thereto or any of its interest therein. 
 Section 7.02 Possession,
Operation and Use, Maintenance and Registration. 
 (a) Possession. Without the prior written consent of the Loan Trustee, the
Company shall not lease or otherwise in any manner deliver, transfer or relinquish possession of the Airframe or any Engine or install any Engine, or permit any Engine to be installed, on any airframe other than the Airframe; provided that
the Company (or, except with respect to clauses (viii) and (ix) below, any Permitted Lessee) may without the prior written consent of Loan Trustee: 

  

					
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 (i) subject the Airframe to interchange agreements or subject any Engine to
interchange, pooling, borrowing or other similar agreements or arrangements, in each case entered into by the Company (or any Permitted Lessee) in the ordinary course of its business; provided that (A) no such agreement or
arrangement contemplates or requires the transfer of title to the Airframe and (B) if the Company’s title to any such Engine is divested under any such agreement or arrangement, such divestiture shall be deemed to be an Event of
Loss with respect to such Engine, and the Company shall (or shall cause any Permitted Lessee to) comply with Section 7.05(b) in respect thereof; 

(ii) deliver possession of the Airframe or any Engine to (x) any Person for testing, service, repair, restoration,
storage, maintenance or other similar purposes or for alterations, modifications or additions to the Airframe or such Engine to the extent required or permitted by the terms hereof or (y) to any Person for purposes of transport to a Person
referred to in the preceding clause (x); 
 (iii) transfer or permit the transfer of possession of the Airframe or any Engine
to any Government pursuant to a lease, contract or other instrument; 
 (iv) subject the Airframe or any Engine to the CRAF
Program or transfer possession of the Airframe or any Engine to the United States government in accordance with applicable laws, rulings, regulations or orders (including, without limitation, any transfer of possession pursuant to the CRAF Program);
provided that the Company (or any Permitted Lessee) (A) shall promptly notify the Loan Trustee upon transferring possession of the Airframe or such Engine pursuant to this clause (iv) and (B) in the case of a
transfer of possession pursuant to the CRAF Program, shall notify the Loan Trustee of the name and address of the responsible Contracting Office Representative for the Air Mobility Command of the United States Air Force or other appropriate Person
to whom notices must be given and to whom requests or claims must be made to the extent applicable under the CRAF Program; 

(v) install an Engine on an airframe owned by the Company (or any Permitted Lessee) free and clear of all Liens, except
(A) Permitted Liens and Liens that apply only to the engines (other than Engines), appliances, parts, instruments, appurtenances, accessories, furnishings and other equipment (other than Parts) installed on such airframe (but not to the
airframe as an entirety) and (B) the rights of third parties under interchange, pooling, borrowing or other similar agreements or arrangements that would be permitted under clause (i) above; 

  

					
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 (vi) install an Engine on an airframe leased to the Company (or any Permitted
Lessee) or purchased or owned by Company (or any Permitted Lessee) subject to a lease, conditional sale or other security agreement; provided that: (A) such airframe is free and clear of all Liens except (1) the rights
of the parties to the lease or conditional sale or other security agreement covering such airframe, or their successors and assigns, and (2) Liens of the type permitted by clause (v) of this Section 7.02(a); and
(B) either: (1) the Company has obtained from the lessor, conditional vendor or secured party of such airframe a written agreement (which may be a copy of the lease, conditional sale or other security agreement covering such
airframe), in form and substance satisfactory to the Loan Trustee (an agreement from such lessor, conditional vendor or secured party substantially in the form of the penultimate paragraph of this Section 7.02(a) being deemed to be satisfactory
to the Loan Trustee), whereby such lessor, conditional vendor or secured party expressly agrees that neither it nor its successors or assigns will acquire or claim any right, title or interest in any Engine by reason of such Engine being installed
on such airframe at any time while such Engine is subject to the Lien of this Indenture, or (2) such lease, conditional sale or other security agreement provides that such Engine shall not become subject to the Lien of such lease,
conditional sale or other security agreement at any time while such Engine is subject to the Lien of this Indenture, notwithstanding its installation on such airframe; 

(vii) install an Engine on an airframe owned by the Company (or any Permitted Lessee), leased to the Company (or any Permitted
Lessee) or purchased by the Company (or any Permitted Lessee) subject to a conditional sale or other security agreement under circumstances where neither clause (v) nor clause (vi) of this Section 7.02(a) is applicable;
provided that such installation shall be deemed an Event of Loss with respect to such Engine, and the Company shall comply with Section 7.05(b) in respect thereof, if such installation adversely affects the Loan Trustee’s security
interest in such Engine, the Loan Trustee not intending hereby to waive any right or interest it may have to or in such Engine under applicable law until compliance by the Company with Section 7.05(b); 

(viii) lease any Engine, the Airframe or the Airframe and Engines to any United States air carrier as to which there is in
force a certificate issued pursuant to the Transportation Code (49 U.S.C. Sections 41101-41112) or successor provision that gives like authority; provided that no Event of Default exists at the time such lease is entered into; and 

(ix) lease any Engine, the Airframe or the Airframe and Engines to (A) any foreign air carrier that is at the
inception of the lease based in and a 

  

					
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domiciliary of a country listed in Exhibit B hereto, (B) the manufacturer of the Airframe or any Engine (either directly or through an affiliate) and (C) any foreign air
carrier consented to in writing by Loan Trustee with the consent of a Majority in Interest of Noteholders; provided that (w) no Event of Default exists at the time such lease is entered into, (x) in the case of a lease
to any foreign air carrier (other than a foreign air carrier principally based in Taiwan), the United States maintains normal diplomatic relations with the country in which such foreign air carrier is based at the time such lease is entered into and
in the case of a lease to a foreign air carrier principally based in Taiwan, the United States maintains diplomatic relations with Taiwan at least as good as those on the Closing Date, (y) in the case of a lease to any foreign air
carrier, the Company furnishes the Loan Trustee with a certificate from a Responsible Officer of the Company certifying that there exist no possessory rights in favor of such lessee under the laws of such lessee’s country which would, upon
bankruptcy or insolvency of or other default by the Company, and assuming at such time such lessee is not insolvent or bankrupt, prevent the taking of possession of any such Engine or the Airframe and any such Engine by the Loan Trustee in
accordance with and when permitted by the terms of Section 4.02 upon the exercise by the Loan Trustee of its remedies under Section 4.02, and (z) in the case of any lease to a foreign air carrier, such carrier is not then
subject to any bankruptcy, insolvency, liquidation, reorganization, dissolution or similar proceeding and shall not have substantially all of its property in the possession of any liquidator, trustee, receiver or similar person; 

provided that the rights of any lessee or other transferee who receives possession of the Aircraft, the Airframe or any Engine by reason of a transfer
permitted by this Section 7.02(a) (other than the transfer of an Engine which is deemed an Event of Loss) shall be subject and subordinate to, and any permitted lease shall be made expressly subject and subordinate to, all the terms of this
Indenture, including the Loan Trustee’s rights to repossess pursuant to Section 4.02 and to avoid such lease upon such repossession, and the Company shall remain primarily liable hereunder for the performance and observance of all of the
terms and conditions of this Indenture to the same extent as if such lease or transfer had not occurred, any such lease shall include appropriate provisions for the maintenance and insurance of the Aircraft, the Airframe or such Engine, and no lease
or transfer of possession otherwise in compliance with this Section shall (x) result in any registration or re-registration of the Aircraft except to the extent permitted in Section 7.02(e) or
the maintenance, operation or use thereof that does not comply with Sections 7.02(b) and (c) or (y) permit any action not permitted to be taken by the Company with respect to the Aircraft hereunder. The Company shall promptly notify
the Loan Trustee and the Rating Agencies of the existence of any such lease with a term in excess of one year. 

  

					
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 The Loan Trustee, each Noteholder by acceptance of an Equipment Note, and each Related Noteholder
by acceptance of a Related Equipment Note, agrees, for the benefit of the Company (and any Permitted Lessee) and for the benefit of the lessor, conditional vendor or secured party of any airframe or engine leased to the Company (or any Permitted
Lessee) or leased to or purchased or owned by the Company (or any Permitted Lessee) subject to a conditional sale or other security agreement, that the Loan Trustee, the Noteholders and the Related Noteholders will not acquire or claim, as against
the Company (or any Permitted Lessee) or such lessor, conditional vendor or secured party, any right, title or interest in (A) any engine or engines owned by the Company (or any Permitted Lessee) or the lessor under such lease or subject
to a security interest in favor of the conditional vendor or secured party under any conditional sale or other security agreement as the result of such engine or engines being installed on the Airframe at any time while such engine or engines are
subject to such lease or conditional sale or other security agreement or (B) any airframe owned by the Company (or any Permitted Lessee) or the lessor under such lease or subject to a security interest in favor of the conditional vendor
or secured party under any conditional sale or other security agreement as the result of any Engine being installed on such airframe at any time while such airframe is subject to such lease or conditional sale or other security agreement. 

The Loan Trustee acknowledges that any “wet lease” or other similar arrangement under which the Company (or any Permitted Lessee)
maintains operational control of the Aircraft shall not constitute a delivery, transfer or relinquishment of possession for purposes of this Section 7.02(a). 

(b) Operation and Use. The Company agrees that the Aircraft will not be used or operated in violation of any law, rule or regulation of
any government of any country having jurisdiction over the Aircraft or in violation of any airworthiness certificate, license or registration relating to the Aircraft issued by any such government, except (i) immaterial or non-recurring violations with respect to which corrective measures are taken promptly by the Company or a Permitted Lessee, as the case may be, upon discovery thereof or (ii) to the extent the Company (or, if a
Lease is then in effect, any Permitted Lessee) is contesting in good faith the validity or application of any such law, rule or regulation or airworthiness certificate, license or registration in any manner that does not involve any material risk of
sale, forfeiture or loss of the Aircraft or impair the Lien of this Indenture; provided that the Company shall not be in default under, or required to take any action set forth in, this sentence if it is not possible for it to comply with the
laws of a jurisdiction other than the United States (or other than any jurisdiction in which the Aircraft is then registered) because of a conflict with the applicable laws of the United States (or such jurisdiction in which the Aircraft is then
registered). The Company shall also have the right to operate the Aircraft without having on board the original registration certificate or airworthiness certificate in the event that either or both such certificates disappear from the Aircraft, but
only to the extent permitted by 

  

					
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Exemption No. 5318 of the regulations of the FAA or other similar exemption. The Company will not operate the Aircraft, or permit the Aircraft to be operated or located, (i) in
any area excluded from coverage by any insurance required by the terms of Section 7.06 or (ii) in any war zone or recognized or, in the Company’s judgment, threatened areas of hostilities unless covered by war risk insurance in
accordance with Section 7.06, unless in the case of either clause (i) or (ii), (x) government indemnification complying with Sections 7.06(a) and (b) has been provided or (y) the Aircraft is only
temporarily located in such area as a result of an isolated occurrence or isolated series of occurrences attributable to a hijacking, medical emergency, equipment malfunction, weather conditions, navigational error or other similar circumstances or
any other circumstances beyond the reasonable control of the Company (or any Permitted Lessee) and the Company (or any Permitted Lessee) is using its good faith efforts to remove the Aircraft from such area as promptly as practicable. 

(c) Maintenance. The Company shall maintain, service, repair and overhaul the Aircraft (or cause the same to be done) (i)
so as to keep the Aircraft in good operating condition and in such condition as may be necessary to enable the airworthiness certification of the Aircraft to be maintained in good standing at all times (other than (v) during temporary
periods of storage, during maintenance, testing or modification permitted hereunder, (w) during periods of grounding by applicable governmental authorities, (x) during periods when the FAA or such other aviation authority has
revoked or suspended the airworthiness certificates for aircraft of the same manufacturer and model as the Aircraft, (y) with respect to minor or non-recurring violations with respect to which corrective
measures are taken promptly upon discovery thereof and (z) to the extent the Company or any Permitted Lessee is promptly contesting in good faith the validity or application of any law or requirement relating to any such certification in any
manner which does not create a material risk of sale, loss or forfeiture of the Aircraft, the Airframe or any Engine or the interest of the Loan Trustee therein or any material risk of criminal liability or material civil penalty against the Loan
Trustee) under the Transportation Code, during such periods in which the Aircraft is registered under the laws of the United States, or, if the Aircraft is registered under the laws of any other jurisdiction, the applicable laws of such jurisdiction
and (ii) using the same standards as the Company (or a Permitted Lessee, if a Lease is in effect) uses with respect to similar aircraft operated by the Company (or such Permitted Lessee) in similar circumstances (it being understood that
the obligations pursuant to this clause (ii) do not limit the Company’s obligations under the preceding clause (i)). In any case, the Aircraft will be maintained in accordance with the maintenance standards required by the FAA (while
operated under an FAA-approved maintenance program) or, while operated under the maintenance program of another jurisdiction, standards substantially equivalent to those required by the central aviation
authority of Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Spain, Sweden, Switzerland or the United Kingdom. The Company

  

					
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shall maintain or cause to be maintained all records, logs and other documents required to be maintained in respect of the Aircraft by appropriate authorities in the jurisdiction in which the
Aircraft is registered. 
 (d) Identification of the Loan Trustee’s Interest. The Company agrees to affix as promptly as
practicable after the Closing Date and thereafter to maintain in the cockpit of the Aircraft, in a clearly visible location, and (if not prevented by applicable law or regulations or by any government) on each Engine, a nameplate bearing the
inscription “MORTGAGED TO WILMINGTON TRUST, NATIONAL ASSOCIATION, AS LOAN TRUSTEE” (such nameplate to be replaced, if necessary, with a nameplate reflecting the name of any successor Loan Trustee). Such placards may be removed temporarily,
if necessary, in the course of maintenance of the Airframe or Engines. 
 (e) Registration. The Company shall cause the Aircraft to
remain duly registered, under the laws of the United States, in the name of the Company, except as otherwise required by the Transportation Code; provided that the Loan Trustee shall, at the Company’s expense, execute and deliver all
such documents as the Company may reasonably request for the purpose of continuing such registration. Notwithstanding the preceding sentence, the Company, at its own expense, may cause or allow the Aircraft to be duly registered under the laws of
any foreign jurisdiction in which a Permitted Lessee could be principally based, in the name of the Company or of any nominee of the Company, or, if required by applicable law, in the name of any other Person (and, following any such foreign
registration, may cause the Aircraft to be re-registered under the laws of the United States); provided that in the case of jurisdictions other than those approved by the Loan Trustee with the consent
of a Majority in Interest of Noteholders (i) if such jurisdiction is at the time of registration listed on Exhibit B, the Loan Trustee shall have received at the time of such registration an opinion of counsel to the Company to the
effect that (A) this Indenture and the Loan Trustee’s right to repossession thereunder is valid and enforceable under the laws of such country, (B) after giving effect to such change in registration, the Lien of this
Indenture shall continue as a valid Lien and shall be duly perfected in the new jurisdiction of registration and that all filing, recording or other action necessary to perfect and protect the Lien of this Indenture has been accomplished (or if such
opinion cannot be given at such time, (x) the opinion shall detail what filing, recording or other action is necessary and (y) the Loan Trustee shall have received a certificate from a Responsible Officer of the Company that
all possible preparations to accomplish such filing, recording and other action shall have been done, and such filing, recording and other action shall be accomplished and a supplemental opinion to that effect shall be promptly delivered to the Loan
Trustee subsequent to the effective date of such change in registration), (C) the obligations of the Company under this Indenture shall remain valid, binding and (subject to customary bankruptcy and equitable remedies exceptions and to
other exceptions customary in foreign opinions generally) enforceable under the laws of such jurisdiction (or the laws of the jurisdiction 

  

					
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to which the laws of such jurisdiction would refer as the applicable governing law), (D) all approvals or consents of any government in such jurisdiction having jurisdiction required
for such change in registration shall have been duly obtained and shall be in full force and effect and (E) (unless the Company shall have agreed to provide insurance covering the risk of requisition of use or title of the Aircraft by
the government of such jurisdiction so long as the Aircraft is registered under the laws of such jurisdiction) the laws of such jurisdiction require fair compensation by the government of such jurisdiction payable in currency freely convertible into
Dollars for the loss of use or title of the Aircraft in the event of requisition by such government of such use or title, and (ii) if such jurisdiction is at the time of registration not listed on Exhibit B, the Loan Trustee shall have
received (in addition to the opinions set forth in clause (i) above) at the time of such registration an opinion of counsel to the Company to the effect that (A) the terms of this Indenture are legal, valid, binding and enforceable
in such jurisdiction (subject to exceptions customary in such jurisdiction; provided that, subject to exceptions relating to bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally and
exceptions relating to general principles of equity, such counsel shall opine that any applicable laws limiting the remedies provided in Section 4.02 do not in the opinion of such counsel make the remedies provided in Section 4.02
inadequate for the practical realization of the rights and benefits provided thereby), (B) it is not necessary for the Loan Trustee to register or qualify to do business in such jurisdiction and (C) there is no tort liability
of the lender of an aircraft not in possession thereof under the laws of such jurisdiction other than tort liability that might have been imposed on such lender under the laws of the United States or any state thereof (it being understood that such
opinion shall be waived if insurance reasonably satisfactory to the Loan Trustee is provided, at the Company’s expense, to cover such risk). The Loan Trustee will cooperate with the Company in effecting such foreign registration.
Notwithstanding the foregoing, prior to any such change in the country of registry of the Aircraft, the following conditions shall be met (or waived as provided in Section 6.01(b) of the Participation Agreement): 

(i) no Event of Default shall have occurred and be continuing at the effective date of the change in registration;
provided that it shall not be necessary to comply with this condition if the change in registration results in the registration of the Aircraft under the laws of the United States or if a Majority in Interest of Noteholders consents to such
change in registration; 
 (ii) the Loan Trustee shall have received evidence of compliance with the insurance provisions
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 (iii) other than in the case of a change in registration to Taiwan, the proposed
change in registration is made to a country with which the United States then maintains normal diplomatic relations, and in the case of a change in registration to Taiwan, the United States maintains diplomatic relations with Taiwan at least as good
as those on the Closing Date; and 
 (iv) the Company shall have paid or made provision reasonably satisfactory to the Loan
Trustee for the payment of all reasonable expenses (including reasonable attorneys’ fees) of the Loan Trustee and the Noteholders in connection with such change in registration. 

The Company shall (i) at the Loan Trustee’s request from time to time, take such actions as may be required to be taken by
the Company so that any International Interest arising in relation to this Indenture, the Aircraft, any Replacement Aircraft, any Engine or Replacement Engine may be duly registered (and any such registration may be assigned, amended, extended or
discharged) at the International Registry, and (ii) obtain from the International Registry all approvals as may be required duly and timely to perform the Company’s obligations under this Indenture with respect to the registration
of any such International Interest. The Loan Trustee shall take all actions necessary with respect to the International Registry to consent to the Company’s initiation of any registrations required under this Indenture to enable the Company to
complete such registrations, including, without limitation, appointing Daugherty, Fowler, Peregrin, Haught & Jenson, a Professional Corporation, as its “professional user entity” (as defined in the Cape Town Treaty) to consent to
any registrations on the International Registry with respect to the Airframe or any Engine. 
 Section 7.03 Inspection; Financial
Information. 
 (a) Inspection. At all reasonable times, but upon at least 15 Business Days’ prior written notice to the
Company, the Loan Trustee or its authorized representatives may, subject to the other conditions of this Section 7.03(a), inspect the Aircraft and may inspect the books and records of the Company relating to the maintenance of the Aircraft
required to be maintained by the FAA or the government of another jurisdiction in which the Aircraft is then registered; provided that (i) the Loan Trustee or its representatives, as the case may be, shall be fully insured at no
cost to the Company or any Permitted Lessee in a manner satisfactory to the Company with respect to any risks incurred in connection with any such inspection or shall provide to the Company a written release satisfactory to the Company and any
Permitted Lessee with respect to such risks, (ii) any such inspection shall be during the Company’s or Permitted Lessee’s, as the case may be, normal business hours and subject to the safety, security and workplace rules
applicable 

  

					
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at the location where such inspection is conducted and any applicable governmental rules or regulations, (iii) any such inspection of the Aircraft shall be a visual, walk-around
inspection of the interior and exterior of the Aircraft and shall not include opening any panels, bays or the like without the Company’s express consent, which consent the Company may in its sole discretion withhold, and (iv) no
exercise of such inspection right shall interfere with the use, operation or maintenance of the Aircraft by, or the business of, the Company or any Permitted Lessee and the Company and any Permitted Lessee shall not be required to undertake or incur
any additional liabilities in connection therewith. All information obtained in connection with any such inspection of the Aircraft and of such books and records shall be Confidential Information and shall be treated by the Loan Trustee and its
representatives in accordance with the provisions of Section 10.16. Any inspection pursuant to this Section 7.03(a) shall be at the sole risk (including, without limitation, any risk of personal injury or death) and expense of the Loan
Trustee (or its representatives) making such inspection. Except during the continuance of an Event of Default, all inspections by the Loan Trustee and its representatives provided for under this Section 7.03(a) shall be limited to one
inspection of any kind contemplated by this Section 7.03(a) during any consecutive twelve month period. 
 (b) Financial
Information. So long as any of the Secured Obligations remain unpaid, the Company agrees to furnish to the Loan Trustee: (i) within 60 days after the end of each of the first three quarterly periods in each fiscal year of the
Company, either (x) a consolidated balance sheet of the Company and its consolidated subsidiaries prepared by it as of the close of such period, together with the related consolidated statements of income for such period or
(y) a report of the Company on Form 10-Q in respect of such period in the form filed with the Securities and Exchange Commission and (ii) within 120 days after the close of each fiscal
year of the Company, either (x) a consolidated balance sheet of the Company and its consolidated subsidiaries as of the close of such fiscal year, together with the related consolidated statements of income for such fiscal year,
certified by independent public accountants, or (y) a report of the Company on Form 10-K in respect of such year in the form filed with the Securities and Exchange Commission. The items required to
be furnished pursuant to clause (i) and clause (ii) above shall be deemed to have been furnished on the date on which such item is posted on the Securities and Exchange Commission’s website at www.sec.gov, and such posting shall be
deemed to satisfy the requirements of clause (i) and clause (ii); provided that the Company will deliver a paper copy of any item referred to in clause (i) and clause (ii) above if the Loan Trustee so requests. 

  

					
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 Section 7.04 Replacement and Pooling of Parts; Alterations, Modifications and Additions;
Substitution of Airframe and Engines. 
 (a) Replacement of Parts. The Company shall (or shall cause a Permitted Lessee to)
promptly replace or cause to be replaced all Parts incorporated or installed in or attached to the Airframe or any Engine and that become worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or rendered permanently unfit for
use for any reason, except as otherwise provided in Section 7.04(c) or if the Airframe or an Engine to which a Part relates has suffered an Event of Loss. In addition, the Company (or any Permitted Lessee) may remove (or cause to be removed) in
the ordinary course of maintenance, service, repair, overhaul or testing, any Parts, whether or not worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or rendered permanently unfit for use; provided that the Company
(or any Permitted Lessee), except as otherwise provided in Section 7.04(c), will replace such Parts as promptly as practicable. All replacement Parts shall be free and clear of all Liens (except for Permitted Liens and except in the case of
replacement property temporarily installed on an emergency basis) and shall be in the condition and repair required to be maintained by the terms hereof. Except as otherwise provided in Section 7.04(c), any Part removed from the Airframe or any
Engine shall remain subject to the Lien of this Indenture no matter where located until it is replaced by a part incorporated or installed in or attached to the Airframe or such Engine that meets the requirements for replacement Parts specified
above. Immediately upon any replacement Part becoming incorporated or installed in or attached to the Airframe or any Engine as above provided (except in the case of replacement property temporarily installed on an emergency basis), without further
act, (i) the replaced Part shall thereupon be free and clear of all rights of the Loan Trustee and of the Lien of this Indenture and shall no longer be deemed a Part hereunder, and (ii) such replacement Part shall become
subject to the Lien of this Indenture and be deemed a Part of the Airframe or such Engine for all purposes to the same extent as the Parts originally incorporated or installed in or attached to the Airframe or such Engine. Upon request of the
Company from time to time, the Loan Trustee shall execute and deliver to the Company an appropriate instrument confirming the release of any such replaced Part from the Lien of this Indenture. 

(b) Pooling of Parts. Any Part removed from the Airframe or any Engine as provided in Section 7.04(a) may be subjected by the
Company or a Person permitted to be in possession of the Aircraft to a pooling arrangement entered into in the ordinary course of the Company’s or such Person’s business; provided that the part replacing such removed Part shall be
incorporated or installed in or attached to the Airframe or such Engine in accordance with Section 7.04(a) as promptly as practicable after the removal of such removed Part. In addition, any replacement Part when incorporated or installed in or
attached to the Airframe or any Engine may be owned by any third party subject to such a pooling arrangement; provided that the Company, at its expense, as promptly thereafter 

  

					
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as practicable, either (i) causes title to such replacement Part to vest in the Company free and clear of all Liens (except Permitted Liens), or (ii) replaces such
replacement Part by incorporating or installing in or attaching to the Airframe or such Engine a further replacement Part in the manner contemplated by Section 7.04(a). 

(c) Alterations, Modifications and Additions. The Company will, or will cause a Permitted Lessee to, make (or cause to be made) such
alterations and modifications in and additions to the Airframe and the Engines as are required from time to time to meet the applicable requirements of the FAA or any applicable government of any other jurisdiction in which the Aircraft is then
registered, except for (i) immaterial and non-recurring violations with respect to which corrective measures are being taken promptly by the Company (or, if a Lease is then in effect, any Permitted
Lessee) upon discovery thereof and (ii) any law, rule, regulation or order the validity or application of which is being contested in good faith by the Company (or, if a Lease is then in effect, any Permitted Lessee) in any manner which does
not involve any material risk of sale, loss or forfeiture of the Aircraft and does not materially adversely affect the Loan Trustee’s interest in the Aircraft. The Company will install (or caused to be installed) as promptly as practicable
after the Closing Date, if not yet so installed on the Closing Date, seats in such passenger configuration as the Company deems desirable in the proper conduct of its business and, upon such installation, such seats shall be deemed installed on the
Airframe at the time of delivery thereof to the Company. In addition, the Company (or any Permitted Lessee), at its own expense, may from time to time add further parts or accessories and make or cause to be made such alterations and modifications
in and additions to the Airframe or any Engine as the Company (or any Permitted Lessee) deems desirable in the proper conduct of its business, including, without limitation, removal (without replacement) of Parts; provided that no such
alteration, modification or addition shall materially diminish the value or utility of the Airframe or such Engine below its value or utility immediately prior to such alteration, modification or addition, assuming that the Airframe or such Engine
was then in the condition required to be maintained by the terms of this Indenture, except that the value (but not the utility) of the Airframe or any Engine may be reduced by the value of any such Parts that are removed that the Company (or such
Permitted Lessee) deems obsolete or no longer suitable or appropriate for use on the Airframe or any Engine. For the avoidance of doubt, the Company may make alterations in the passenger configuration of the Aircraft and such alterations shall not
be subject to the immediately preceding sentence. All Parts incorporated or installed in or attached or added to the Airframe or any Engine as the result of such alteration, modification or addition shall, without further act, be subject to the Lien
of this Indenture. Notwithstanding the foregoing, the Company (or any Permitted Lessee) may, at any time, remove any Part from the Airframe or any Engine if such Part: (i) is in addition to, and not in replacement of or substitution for,
any Part originally incorporated or installed in or attached to the Airframe or such Engine at the time of delivery thereof to the Company or any Part in replacement of, or 

  

					
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substitution for, any such Part, (ii) is not required to be incorporated or installed in or attached or added to the Airframe or such Engine pursuant to the first sentence of this
Section 7.04(c) and (iii) can be removed from the Airframe or such Engine without materially diminishing the value or utility required to be maintained by the terms of this Indenture that the Airframe or such Engine would have had
had such Part never been installed on the Airframe or such Engine. Upon the removal by the Company (or any Permitted Lessee) of any Part as permitted by this Section 7.04(c), such removed Part shall, without further act, be free and clear of
all rights and interests of the Loan Trustee and the Lien of this Indenture and shall no longer be deemed a Part hereunder. Upon request of the Company from time to time, the Loan Trustee shall execute and deliver to the Company an appropriate
instrument confirming the release of any such removed Part from the Lien of this Indenture. The Loan Trustee acknowledges that it has no interest in the Excluded Equipment. Notwithstanding the provisions of this Section 7.04(c) or any other
term or condition of this Indenture, the Company (or any Permitted Lessee) may from time to time install on, and remove from, the Aircraft equipment that is owned by, leased to or conditionally sold to the Company (or any Permitted Lessee) (and
title to such equipment shall remain vested in the Company, such Permitted Lessee, or the lessor or the conditional vendor thereof) if (1) such equipment is Excluded Equipment and (2) the location affected by any such
removal, if damaged, is repaired prior to return, in a workmanlike manner, to a condition suitable for commercial passenger service; provided that all costs of installation, removal and replacement shall be the responsibility of the Company.

 (d) Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written
notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine by complying with the terms of Section 7.05(b) to the same extent as
if an Event of Loss had occurred with respect to such Engine. 
 (e) Substitution of Airframe. The Company shall have the right at its
option at any time, on at least 10 Business Days’ prior written notice to the Loan Trustee, to substitute a Substitute Airframe, free and clear of all Liens (other than Permitted Liens), for the Airframe so long as (i) no Event of
Default shall have occurred and be continuing at the time of substitution, (ii) the Substitute Airframe has a date of manufacture no earlier than one year prior to the date of manufacture of the Airframe subject to the Lien of this
Indenture on the Closing Date (each such date of manufacture, in each case, to be deemed to be the date of original delivery of the applicable airframe to a customer by the Manufacturer) and (iii) the Substitute Airframe has a MCMV (as
defined below) at least equal to the MCMV of the Airframe being replaced by the Substitute Airframe (assuming that the Airframe had been maintained in accordance with this Indenture), in each case as determined by a desktop appraisal dated as of a
date within the 60-day period prior to the 

  

					
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substitution performed by an Appraiser selected by the Company. “MCMV” is the “current market value” (as defined by the International Society of Transport Aircraft
Trading or any successor organization) adjusted for the maintenance status of the Substitute Airframe and the Airframe being replaced by the Substitute Airframe, as applicable, such maintenance status to be based upon maintenance data provided by
the Company to the applicable Appraiser with respect to the Substitute Airframe and such Airframe as of the same date within the 60-day period prior to the substitution for both the Substitute Airframe and
such Airframe. 
 Prior to or at the time of any substitution under this Section 7.04(e), the Company will (A) cause an
Indenture Supplement covering such Substitute Airframe to be delivered to the Loan Trustee for execution and, upon such execution, to be filed for recordation pursuant to the Transportation Code or the applicable laws of any other jurisdiction in
which the Aircraft may then be registered, (B) cause the sale of such Substitute Airframe to the Company (if occurring after February 28, 2006 and if the seller of such Substitute Airframe is “situated in” a country that
has ratified the Cape Town Convention) and the International Interest created pursuant to the Indenture Supplement in favor of the Loan Trustee with respect to such Substitute Airframe to be registered on the International Registry as a sale or an
International Interest, respectively; provided that if the seller of such Substitute Airframe is not situated in a country that has ratified the Cape Town Convention, the Company will use its reasonable efforts to cause the seller to register
the contract of sale on the International Registry, (C) cause a financing statement or statements with respect to such Substitute Airframe or other requisite documents or instruments to be filed in such place or places as necessary in
order to perfect the Loan Trustee’s interest therein in the United States, or in any other jurisdiction in which the Aircraft may then be registered, (D) furnish the Loan Trustee with an opinion of counsel to the Company (which may
be internal counsel of the Company) addressed to the Loan Trustee to the effect that upon such substitution, such Substitute Airframe will be subject to the Lien of this Indenture and addressing the matters set forth in clauses (A), (B) and
(C), (E) furnish the Loan Trustee with evidence of compliance with the insurance provisions of Section 7.06 with respect to such Substitute Airframe, (F) furnish the Loan Trustee with a copy of the original bill of sale in
respect of such Substitute Airframe, (G) furnish the Loan Trustee with an opinion of counsel to the Company (which may be internal counsel of the Company) reasonably satisfactory to the Loan Trustee to the effect that the Loan Trustee will be
entitled to the benefits of Section 1110 with respect to the Substitute Airframe; provided that (i) such opinion need not be delivered to the extent that the benefits of Section 1110 were not, by reason of a change in law or
governmental or judicial interpretation thereof, available to the Loan Trustee with respect to the Aircraft immediately prior to such substitution and (ii) such opinion may contain qualifications and assumptions of the tenor contained in the
opinion of counsel to the Company delivered pursuant to Section 3.01 of the Participation Agreement on the Closing Date and such other qualifications and assumptions as shall at the time be customary in

  

					
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opinions rendered in comparable circumstances and (H) cause the Loan Trustee to be named as “Controlling Party” under an airframe warranties agreement with respect to such
Substitute Airframe substantially similar to the Airframe Warranties Agreement. 
 In the case of the Substitute Airframe subjected to the
Lien of this Indenture under this Section 7.04(e), promptly upon the recordation of the Indenture Supplement covering such Substitute Airframe pursuant to the Transportation Code (or pursuant to the applicable law of such other jurisdiction in
which such Substitute Airframe is registered), the Company will cause to be delivered to the Loan Trustee a favorable opinion of aviation law counsel selected by the Company addressed to the Loan Trustee as to the due registration of the aircraft to
which the Substitute Airframe is part and the due recordation of such Indenture Supplement or such other requisite documents or instruments, the registration with the International Registry of the sale of such Substitute Airframe to the Company (if
occurring after February 28, 2006 and if the seller of such Substitute Airframe is “situated in” a country that has ratified the Cape Town Convention) and of the International Interests created pursuant to the Indenture Supplement
with respect to such Substitute Airframe and the validity and perfection of the security interest in the Substitute Airframe granted to the Loan Trustee under this Indenture. 

Section 7.05 Loss, Destruction or Requisition. 

(a) Event of Loss with Respect to the Airframe. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and
the Engines then installed thereon, the Company shall as soon as practicable (and, in any event, within 30 days after an Event of Loss has occurred) notify the Loan Trustee of such Event of Loss, and, within 90 days after such Event of Loss, the
Company shall give the Loan Trustee written notice of its election to perform one of the following options (it being agreed that if the Company has not given such notice of election within such 90-day period,
the Company shall be deemed to have elected to perform the option set forth in the following clause (ii)). The Company may elect either to: 

(i) substitute, on or before the Loss Payment Date (as defined below), as replacement for the Airframe or Airframe and Engines
with respect to which an Event of Loss has occurred, a Replacement Airframe (together with a number of Replacement Engines equal to the number of Engines, if any, with respect to which the Event of Loss occurred), such Replacement Airframe and
Replacement Engines to be owned by the Company free and clear of all Liens (other than Permitted Liens); provided that if the Company has not performed such obligation on or prior to the Loss Payment Date, then the Company shall on the Loss

  

					
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Payment Date redeem the Equipment Notes in full in accordance with Section 2.10; or 

(ii) redeem, on or before the Loss Payment Date, the Equipment Notes in full in accordance with Section 2.10. The Company
shall give Loan Trustee 20 days prior written notice if it elects to redeem the Equipment Notes on any day prior to the Loss Payment Date. 

The “Loss Payment Date” with respect to an Event of Loss means the Business Day next succeeding the 120th day following the
date of occurrence of such Event of Loss. 
 If the Company elects to substitute a Replacement Airframe (or a Replacement Airframe and one
or more Replacement Engines, as the case may be) the Company shall, at its sole expense, not later than the Loss Payment Date, (A) cause an Indenture Supplement for such Replacement Airframe and Replacement Engines, if any, to be
delivered to the Loan Trustee for execution and, upon such execution, to be filed for recordation pursuant to the Transportation Code or the applicable laws of such other jurisdiction in which the Aircraft is then registered, (B) cause
the sale of such Replacement Airframe and Replacement Engines, if any, to the Company (if occurring after February 28, 2006 and if the seller of such Replacement Airframe and Replacement Engines, if any, is “situated in” a country
that has ratified the Cape Town Convention) and the International Interest created pursuant to the Indenture Supplement in favor of the Loan Trustee with respect to such Replacement Airframe and Replacement Engines, if any, each to be registered on
the International Registry as a sale or an International Interest, respectively; provided that if the seller of such Replacement Airframe and Replacement Engines, if any, is not situated in a country that has ratified the Cape Town
Convention, the Company will use its reasonable efforts to cause the seller to register the contract of sale on the International Registry, (C) cause a financing statement or statements with respect to the Replacement Airframe and
Replacement Engines, if any, or other requisite documents or instruments to be filed in such place or places as necessary in order to perfect the Loan Trustee’s interest therein in the United States, or in any other jurisdiction in which the
Aircraft is then registered, (D) furnish the Loan Trustee with an opinion of the Company’s counsel (which may be internal counsel of the Company) addressed to the Loan Trustee to the effect that upon such replacement, such
Replacement Airframe and Replacement Engines, if any, will be subject to the Lien of this Indenture and addressing the matters set forth in clauses (A), (B) and (C), (E) furnish the Loan Trustee with a certificate of an independent
aircraft engineer or appraiser, certifying that the Replacement Airframe and Replacement Engines, if any, have a value and utility (without regard to hours or cycles) at least equal to the Airframe and Engines, if any, so replaced, assuming the
Airframe and such Engines were in the condition and 

  

					
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repair required by the terms hereof immediately prior to the occurrence of such Event of Loss, (F) furnish the Loan Trustee with evidence of compliance with the insurance provisions
of Section 7.06 with respect to such Replacement Airframe and Replacement Engines, if any, (G) furnish the Loan Trustee with a copy of the original bill of sale in respect of such Replacement Airframe and a copy of the original bill
of sale or, if the bill of sale is unavailable, other evidence of ownership reasonably satisfactory to the Loan Trustee (which may be a copy of an invoice or purchase order) in respect of such Replacement Engines, if any, (H) furnish the
Loan Trustee with an opinion of the Company’s counsel (which may be internal counsel of the Company) reasonably satisfactory to the Loan Trustee to the effect that the Loan Trustee will be entitled to the benefits of Section 1110 with
respect to the Replacement Airframe; provided that (i) such opinion need not be delivered to the extent that the benefits of Section 1110 were not, by reason of a change in law or governmental or judicial interpretation
thereof, available to the Loan Trustee with respect to the Aircraft immediately prior to such substitution and (ii) such opinion may contain qualifications and assumptions of the tenor contained in the Section 1110 opinion of the
Company’s counsel delivered pursuant to Section 3.01 of the Participation Agreement on the Closing Date and such other qualifications and assumptions as are at the time customary in opinions rendered in comparable circumstances and
(I) cause the Loan Trustee to be named as “Controlling Party” under an airframe warranties agreement with respect to such Replacement Airframe substantially similar to the Airframe Warranties Agreement. 

In the case of each Replacement Airframe or Replacement Airframe and one or more Replacement Engines subjected to the Lien of this Indenture
under this Section 7.05(a), promptly upon the recordation of the Indenture Supplement covering any such Replacement Airframe and Replacement Engines, if any, pursuant to the Transportation Code (or pursuant to the applicable law of such other
jurisdiction in which such Replacement Airframe and Replacement Engines, if any, are registered), the Company will cause to be delivered to the Loan Trustee a favorable opinion of FAA counsel selected by the Company if at the time of the Event of
Loss the Aircraft was registered under the laws of the United States (or, if at the time of the Event of Loss the Aircraft was registered under the laws of another jurisdiction, counsel qualified to opine on matters of registration in such
jurisdiction selected by the Company, which counsel shall be reasonably satisfactory to the Loan Trustee) addressed to the Loan Trustee as to the due registration of such Replacement Aircraft and the due recordation of such Indenture Supplement or
such other requisite documents or instruments, the registration with the International Registry of the sale of such Replacement Aircraft and Replacement Engines, if any, to the Company (if occurring after February 28, 2006 and if the seller of
such Replacement Airframe and Replacement Engines, if any, is “situated in” a country that has ratified the Cape Town Convention) and of the International Interests created pursuant to the Indenture Supplement with respect to such
Replacement Airframe and 

  

					
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Replacement Engines, if any, and the validity and perfection of the security interest in the Replacement Aircraft granted to Loan Trustee under this Indenture. 

For all purposes hereof, upon the attachment of the Lien of this Indenture thereto, the Replacement Aircraft and Replacement Engines, if any,
shall become part of the Collateral, the Replacement Airframe shall be deemed an “Airframe” as defined herein, and each such Replacement Engine shall be deemed an “Engine” as defined herein. Upon compliance with
clauses (A) through (H) of the third paragraph of this Section 7.05(a), the Loan Trustee shall execute and deliver to the Company an appropriate instrument releasing such replaced Airframe and Engines (if any) installed thereon at the
time such Event of Loss occurred, all proceeds (including, without limitation, insurance proceeds) and all rights relating to the foregoing, from the Lien of this Indenture, terminating the Loan Trustee’s rights as “Controlling Party”
under the Airframe Warranties Agreement and assigning to the Company all claims against third Persons for damage to or loss of the Airframe and Engines arising from the Event of Loss, and will take such actions as may be required to be taken by the
Loan Trustee to cancel or release any International Interest of the Loan Trustee registered with the International Registry in relation to the replaced Airframe and replaced Engines, if any. 

If, after an Event of Loss, the Company performs the option set forth in clause (ii) of the first paragraph of this Section 7.05(a),
the Loan Trustee shall execute and deliver to Company an appropriate instrument releasing the Aircraft, all proceeds (including, without limitation, insurance proceeds) and all rights relating to the foregoing from the Lien of this Indenture,
terminating the Loan Trustee’s rights as “Controlling Party” under the Airframe Warranties Agreement and assigning to the Company all claims against third Persons for damage to or loss of the Aircraft arising from the Event of Loss,
and will take such actions as may be required to be taken by the Loan Trustee to cancel or release any International Interest of the Loan Trustee registered with the International Registry in relation to the Airframe and Engines, if any, with
respect to which such Event of Loss occurred. 
 (b) Event of Loss with Respect to an Engine. As soon as practicable following the
occurrence of an Event of Loss with respect to an Engine under circumstances in which there has not occurred an Event of Loss with respect to the Airframe, the Company shall give the Loan Trustee prompt written notice thereof and shall, within 120
days after the occurrence of such Event of Loss, cause to be subjected to the Lien of this Indenture, as replacement for the Engine with respect to which such Event of Loss occurred, a Replacement Engine free and clear of all Liens (other than
Permitted Liens). 

  

					
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 Prior to or at the time of any replacement under this Section 7.05(b), the Company will
(i) cause an Indenture Supplement covering such Replacement Engine to be delivered to the Loan Trustee for execution and, upon such execution, to be filed for recordation pursuant to the Transportation Code or the applicable laws of any
other jurisdiction in which the Aircraft is then registered, (ii) furnish the Loan Trustee with a copy of the original bill of sale or, if the bill of sale is unavailable, other evidence of ownership reasonably satisfactory to the Loan
Trustee (which may be a copy of an invoice or purchase order) in respect of such Replacement Engine, which in the case of any such conveyance to which the Cape Town Convention is applicable shall be in such form as will qualify as “contract of
sale” pursuant to Article V of the Aircraft Protocol, and all documents required under the Operative Documents to establish, continue, confirm, register and/or perfect the interests of the Loan Trustee in such Replacement Engine,
(iii) cause the sale of such Replacement Engine to the Company (if occurring after February 28, 2006 and if the seller of such Replacement Engine is “situated in” a country that has ratified the Cape Town Convention) and
the International Interest created pursuant to the Indenture Supplement in favor of the Loan Trustee with respect to such Replacement Engine, each to be registered on the International Registry as a sale or an International Interest, respectively;
provided that if the seller of such Replacement Engine is not situated in a country that has ratified the Cape Town Convention, the Company will use its reasonable efforts to cause the seller to register the contract of sale on the
International Registry, (iv) cause a financing statement or statements with respect to such Replacement Engine or other requisite documents or instruments to be filed in such place or places as necessary in order to perfect the Loan
Trustee’s interest therein in the United States, or in such other jurisdiction in which the Engine is then registered, (v) furnish the Loan Trustee with an opinion of the Company’s counsel (which may be internal counsel to the
Company) addressed to the Loan Trustee to the effect that, upon such replacement, the Replacement Engine will be subject to the Lien of this Indenture, (vi) furnish the Loan Trustee with a certificate of an aircraft engineer or appraiser
(who may be an employee of the Company) certifying that such Replacement Engine has a value and utility (without regard to hours or cycles) at least equal to the Engine so replaced assuming such Engine was in the condition and repair required by the
terms hereof immediately prior to the occurrence of such Event of Loss and (vii) furnish the Loan Trustee with evidence of compliance with the insurance provisions of Section 7.06 with respect to such Replacement Engine. In the case
of each Replacement Engine subjected to the Lien of this Indenture under this Section 7.05(b), promptly upon the recordation of the Indenture Supplement covering such Replacement Engine pursuant to the Transportation Code (or pursuant to the
applicable law of such other jurisdiction in which the Aircraft is registered), the Company will cause to be delivered to the Loan Trustee an opinion of FAA counsel selected by the Company if at the time of the Event of Loss the Aircraft was
registered under the laws of the United States (or, if at the time of the Event of Loss the Aircraft was registered under the laws of another jurisdiction, counsel qualified to opine on matters of registration in such jurisdiction selected by the
Company, which counsel shall be reasonably satisfactory to the Loan Trustee) addressed 

  

					
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to the Loan Trustee as to the due recordation of such Indenture Supplement or such other requisite documents or instruments, the registration with the International Registry of the sale of such
Replacement Engine to the Company (if occurring after February 28, 2006) and of the International Interest created pursuant to the Indenture Supplement with respect to such Replacement Engine and the validity and perfection of the security
interest in the Replacement Engine granted to the Loan Trustee under this Indenture. For all purposes hereof, upon the attachment of the Lien of this Indenture thereto, the Replacement Engine shall become part of the Collateral and shall be deemed
an “Engine” as defined herein. Upon compliance with clauses (i) through (vii) of the first sentence of this paragraph, the Loan Trustee shall execute and deliver to the Company an appropriate instrument releasing such
replaced Engine, any proceeds (including, without limitation, insurance proceeds) and all rights relating to any of the foregoing from the Lien of this Indenture and assigning to the Company all claims against third Persons for damage to or loss of
such Engine arising from the Event of Loss, and will take such actions as may be required to be taken by the Loan Trustee to cancel or release any International Interest of the Loan Trustee registered with the International Registry in relation to
the Engines with respect to which such Event of Loss occurred. 
 (c) Application of Payments for Event of Loss from Requisition of Title
or Use. Any payments other than insurance proceeds (the application of which is provided for in Section 7.06) received at any time by the Company or by the Loan Trustee from any government or other Person with respect to an Event of Loss to
the Airframe or any Engine, will be applied as follows: 
 (i) if such payments are received with respect to the Airframe or
the Airframe and any Engines installed on the Airframe that has been or is being replaced by the Company pursuant to Section 7.05(a), such payments shall be paid over to, or retained by, the Loan Trustee and upon completion of such replacement
shall be paid over to, or retained by, the Company; 
 (ii) if such payments are received with respect to the Airframe or the
Airframe and any Engines installed on the Airframe that has not been and will not be replaced pursuant to Section 7.05(a), so much of such payments remaining after reimbursement of the Loan Trustee for its actual and reasonable out-of-pocket costs and expenses that shall not exceed the amounts required to be paid to Noteholders pursuant to Section 2.10 shall be applied in reduction of the
Company’s obligation to pay such amounts, if not already paid by the Company, or, if already paid by the Company, shall be applied to reimburse the Company for its payment of such amount and the balance, if any, of such payment remaining
thereafter will be paid over to, or retained by, the Company; and 

  

					
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 (iii) if such payments are received with respect to an Engine with regard to
which an Event of Loss has occurred, so much of such payments remaining after reimbursement of the Loan Trustee for its actual and reasonable out-of-pocket costs and
expenses shall be paid over to, or retained by, the Company; provided that the Company has fully performed its obligations under Section 7.05(b) with respect to the Event of Loss for which such payments are made. 

(d) Requisition for Use by the Government of the Airframe and the Engines Installed Thereon. In the event of the requisition for use or
hire by any government (it being acknowledged that the use of the Airframe or any Engine pursuant to the CRAF Program does not constitute such a requisition or hire) of the Airframe and the Engines or engines installed on the Airframe that does not
constitute an Event of Loss, all of the Company’s rights and obligations under this Indenture with respect to the Airframe and such Engines shall continue to the same extent as if such requisition or hire had not occurred; provided that,
notwithstanding the foregoing, the Company’s obligations other than payment obligations shall only continue to the extent feasible. All payments received by the Company or the Loan Trustee from such government for such requisition of the
Airframe and Engines or engines shall be paid over to, or retained by, the Company. 
 (e) Requisition for Use by the Government of an
Engine not Installed on the Airframe. If any government requisitions the use or hire (it being acknowledged that the use of the Airframe or any Engine pursuant to the CRAF Program does not constitute such a requisition), for a period in excess
of sixty (60) days, of any Engine not then installed on the Airframe, the Company will replace such Engine by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.
Upon such replacement, any payments received by the Company or the Loan Trustee from such government with respect to such requisition shall be paid over to, or retained by, the Company. 

(f) Application of Payments During Existence of Event of Default. Any amount referred to in Section 7.05 that is payable to or
retainable by the Company shall not be paid to or retained by the Company if at the time of such payment or retention an Event of Default or Payment Default has occurred and is continuing, but shall be held by or paid over to the Loan Trustee as
security for the obligations of the Company under this Indenture and the Participation Agreement. When any such Event of Default or Payment Default ceases, such amount shall be paid to the Company. 

Section 7.06 Insurance. 

  

					
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 (a) Aircraft Liability Insurance. 

(i) Except as provided in clause (ii) of this subsection (a), and subject to the rights of the Company to establish and
maintain self-insurance in the manner and to the extent specified in Section 7.06(c), the Company will carry, or cause to be carried, at no expense to the Loan Trustee, aircraft liability insurance (including, but not limited to, passenger
liability, bodily injury, personal injury and property damage liability, exclusive of manufacturer’s product liability insurance) and contractual liability insurance with respect to the Aircraft (A) in amounts per occurrence that
are not less than the aircraft liability insurance applicable to similar aircraft and engines operated by the Company in the Company’s fleet on which the Company carries insurance (or, in the case of a lease to a Permitted Lessee, in such
Permitted Lessee’s fleet on which such Permitted Lessee carries insurance); provided that such liability insurance (including self-insurance specified in Section 7.06(c)) shall not be less than the amount per occurrence certified in
the insurance report delivered to the Loan Trustee and each Liquidity Provider on the Closing Date, (B) of the type usually carried by corporations engaged in the same or similar business, similarly situated with the Company or such
Permitted Lessee, as the case may be, and operating similar aircraft and engines and covering risks of the kind customarily insured against by the Company or such Permitted Lessee, as the case may be, and (C) that is maintained in effect
with insurers of recognized responsibility; provided that the Company will carry, or cause to be carried, at no expense to the Loan Trustee, aircraft liability war risk and allied perils insurance if and to the extent the same is maintained
by the Company or such Permitted Lessee, as the case may be, with respect to other aircraft owned and operated by the Company or such Permitted Lessee, as the case may be, on the same or similar routes. Any policies of insurance carried in
accordance with this Section 7.06(a) and any policies taken out in substitution or replacement for any of such policies shall (A) name the Loan Trustee, the Subordination Agent, each Pass Through Trustee and each Liquidity Provider
as their respective Interests (as defined below in this Section 7.06) may appear, as additional insureds (the “Specified Persons”), (B) subject to the conditions of clause (C) below, provide that, in respect of
the interests of the Specified Persons in such policies, the insurance shall not be invalidated by any action or inaction of the Company (or any Permitted Lessee) and shall insure the Specified Persons’ Interests as they appear, regardless of
any breach or violation of any warranty, declaration or condition contained in such policies by the Company (or any Permitted Lessee), (C) provide that, except to the extent not provided for by the war risk and allied perils insurance
provider, if such insurance is canceled for any reason whatsoever, or if any change is made in the policy that materially reduces the amount of insurance or the coverage certified in the insurance report delivered on the Closing Date to the Loan
Trustee 

  

					
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and each Liquidity Provider, or if such insurance is allowed to lapse for nonpayment of premium, such cancellation, change or lapse shall not be effective as to any Specified Person for 30 days
(seven days, or such other period as is customarily available in the industry, in the case of any war risk or allied perils coverage) after mailing of written notice from such insurers of such cancellation, change or lapse, (D) provide
that the Specified Persons shall have no obligation or liability for premiums, commissions, assessments or calls in connection with such insurance, (E) provide that the insurers shall waive any rights of (1) set-off, counterclaim or any other deduction, whether by attachment or otherwise, in respect of any liability of the Specified Persons to the extent of any moneys due to the Specified Persons and
(2) subrogation against the Specified Persons to the extent that the Company has waived its rights by its agreements to indemnify the Specified Persons pursuant to the Operative Documents, (F) be primary without right of
contribution from any other insurance that may be carried by each Specified Person with respect to its Interests as such in the Aircraft and (G) expressly provide that all of the provisions thereof, except the limits of liability, shall
operate in the same manner as if there were a separate policy covering each insured. “Interests” as used in this Section 7.06(a) and in Section 7.06(b) with respect to any Person means the interests of such Person in the
transactions contemplated by the Operative Documents. In the case of a lease or contract with any government in respect of the Aircraft or any Engine, or in the case of any requisition for use of the Aircraft or any Engine by any government, a valid
agreement by such government to indemnify the Company, or an insurance policy issued by such government, against any of the risks that the Company is required hereunder to insure against shall be considered adequate insurance for purposes of this
Section 7.06(a) to the extent of the risks (and in the amounts) that are the subject of such indemnification or insurance. To the extent that the war risk and allied perils insurance provider does not provide for provision of direct notice to
each Specified Person of cancellation, change or lapse in the insurance required hereunder, the Company hereby agrees that upon receipt of notice of any thereof from such insurance provider it shall give each Specified Person immediate notice of
each cancellation or lapse of, or material change to, such insurance. 
 (ii) During any period that the Airframe or an
Engine, as the case may be, is on the ground and not in operation, the Company may carry or cause to be carried as to such non-operating Airframe or Engine, in lieu of the insurance required by clause
(i) above, and subject to self-insurance to the extent permitted by Section 7.06(c), insurance otherwise conforming with the provisions of said clause (i) except that: (A) the amounts of coverage shall not be required to
exceed the amounts of airline liability insurance from time to time applicable to airframes or engines owned or leased by the Company (or, in the case of a lease to a 

  

					
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Permitted Lessee, such Permitted Lessee) of the same type as such non-operating Airframe or Engine and that are on the ground and not in operation and
(B) the scope of the risks covered and the type of insurance shall be the same as from time to time shall be applicable to airframes or engines owned or leased by the Company (or such Permitted Lessee) of the same type as such non-operating Airframe or Engine and that are on the ground and not in operation. 
 (b) Insurance
Against Loss or Damage to Aircraft. 
 (i) Except as provided in clause (ii) of this subsection (b), and subject to
the rights of the Company to establish and maintain self-insurance in the manner and to the extent specified in Section 7.06(c), the Company shall maintain, or cause to be maintained, in effect with insurers of recognized responsibility, at no
expense to the Loan Trustee, all-risk aircraft hull insurance covering the Aircraft and all-risk coverage with respect to any Engines or Parts while removed from the
Aircraft (including, without limitation, war risk and allied perils insurance if and to the extent the same is maintained by the Company (or, in the case of a lease to a Permitted Lessee, such Permitted Lessee) with respect to other aircraft
operated by the Company or operated by such Permitted Lessee, as the case may be, on the same or similar routes) that is of the type usually carried by corporations engaged in the same or similar business and similarly situated with the Company or
such Permitted Lessee, as the case may be; provided that (A) such insurance (including the permitted self-insurance) shall, at all times, while the Aircraft is subject to this Indenture be for an amount not less than 110% of the
aggregate outstanding principal amount of the Equipment Notes from time to time, (B) such insurance need not cover an Engine while attached to an airframe not owned, leased or operated by the Company, provided, that such Engine is
covered by a separate policy of insurance and (C) with respect to hull and hull war-risk insurance only, such insurance shall contain a 50/50 Clause per Lloyd’s Aviation Underwriters’
Association Standard Policy Form AVS 103 or a similar 50/50 provisional claims settlement clause. Any policies carried in accordance with this Section 7.06(b) and any policies taken out in substitution or replacement for any such policies shall
(A) provide that (I) any insurance proceeds up to an amount equal to the outstanding principal amount of the Equipment Notes, together with accrued but unpaid interest thereon, plus an amount equal to the interest that would
accrue on the outstanding principal amount of the Equipment Notes at the Debt Rate in effect on the date of payment of such insurance proceeds to the Loan Trustee (as provided for in this sentence) during the period commencing on the day following
the date of such payment to the Loan Trustee and ending on the Loss Payment Date (the sum of such three amounts being the “Loan Amount”), payable for any loss or damage constituting an Event of Loss with respect to the Aircraft, and
(II) any insurance proceeds in 

  

					
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excess of the amount set forth on Exhibit C up to the amount of the Loan Amount for any loss or damage to the Aircraft (or Engines) not constituting an Event of Loss with respect to the Aircraft,
shall be paid to the Loan Trustee as long as this Indenture shall not have been discharged, and that all other amounts shall be payable to the Company, unless the insurer shall have received notice that an Event of Default shall have occurred and be
continuing, in which case all insurance proceeds for any loss or damage to the Aircraft (or Engines) up to the amount of the Loan Amount shall be payable to the Loan Trustee, (B) subject to the conditions of clause (C) below,
provide that, in respect of the interests of the Specified Persons in such policies, the insurance shall not be invalidated by any action or inaction of the Company (or any Permitted Lessee) and shall insure the Specified Persons’ Interests as
they appear, regardless of any breach or violation of any warranty, declaration or condition contained in such policies by the Company (or any Permitted Lessee), (C) provide that, except to the extent not provided by the war risk and
allied perils insurance provider, if such insurance is canceled for any reason whatsoever, or if any change is made in the policy that materially reduces the amount of insurance or the coverage certified in the insurance report delivered on the
Closing Date to the Loan Trustee and each Liquidity Provider, or if such insurance is allowed to lapse for nonpayment of premium, such cancellation, change or lapse shall not be effective as to the Specified Persons for 30 days (seven days, or such
other period as is customarily available in the industry, in the case of war risk or allied perils coverage) after mailing of written notice from such insurers of such cancellation, change or lapse, (D) provide that the Specified Persons
shall have no obligation or liability for premiums, commissions, assessments or calls in connection with such insurance, (E) provide that the insurers shall waive rights of (1) set-off,
counterclaim or any other deduction, whether by attachment or otherwise, in respect of any liability of the Specified Persons to the extent of any moneys due to the Specified Persons and (2) subrogation against the Specified Persons to
the extent the Company has waived its rights by its agreement to indemnify the Specified Persons pursuant to the Operative Documents, and (F) if and to the extent applicable, be primary without right of contribution from any other
insurance that may be carried by any Specified Person with respect to its Interests as such in the Aircraft. In the case of a lease or contract with any government in respect of the Aircraft or any Engine, or in the case of any requisition for use
of the Aircraft or any Engine by any government, a valid agreement by such government to indemnify the Company, or an insurance policy issued by such government, against any risks which the Company is required hereunder to insure against shall be
considered adequate insurance for purposes of this Section 7.06(b) to the extent of the risks (and in the amounts) that are the subject of such indemnification or insurance. To the extent that the war risk and allied perils insurance provider
does not provide for provision of direct notice to each Specified Person of cancellation, change or lapse in the insurance required hereunder, the Company hereby agrees that upon 

  

					
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receipt of notice of any thereof from such insurance provider it shall give each Specified Person immediate notice of each cancellation or lapse of, or material change to, such insurance. 

(ii) During any period that the Airframe or an Engine is on the ground and not in operation, the Company may carry or cause to
be carried as to such non-operating Airframe or Engine, in lieu of the insurance required by clause (i) above, and subject to self-insurance to the extent permitted by Section 7.06(c), insurance
otherwise conforming with the provisions of said clause (i) except that the scope of the risks covered and the type of insurance shall be the same as from time to time applicable to airframes or engines owned or leased by the Company (or, if a
lease is then in effect, by the Permitted Lessee) of the same type as such non-operating Airframe or Engine and that are on the ground and not in operation; provided that, subject to self-insurance to
the extent permitted by Section 7.06(c), the Company (or such Permitted Lessee) shall maintain insurance against risk of loss or damage to such non-operating Airframe in an amount at least equal to 110%
of the aggregate outstanding principal amount of the Equipment Notes during such period that such Airframe is on the ground and not in operation. 

(c) Self-Insurance. The Company may from time-to-time
self-insure, by way of deductible, self-insured retention, premium adjustment or franchise or otherwise (including, with respect to insurance maintained pursuant to Section 7.06(a) or Section 7.06(b), insuring for a maximum amount that is
less than the amounts set forth in Section 7.06(a) and Section 7.06(b)), the risks required to be insured against pursuant to Section 7.06(a) and Section 7.06(b), but in no case shall the self-insurance with respect to all of the
aircraft and engines in the Company’s fleet (including, without limitation, the Aircraft) exceed for any 12-month policy year 1% of the average aggregate insurable value (for the preceding policy year) of
all aircraft (including, without limitation, the Aircraft) on which the Company carries insurance, unless an insurance broker of national standing shall certify that the standard among all other major United States airlines is a higher level of
self-insurance, in which case the Company may self-insure the Aircraft to such higher level. In addition to the foregoing right to self-insure, the Company may self-insure to the extent of (1) any deductible per occurrence that, in the
case of the Aircraft, is not in excess of the amount customarily allowed as a deductible in the industry or is required to facilitate claims handling or (2) any applicable mandatory minimum per aircraft (or if applicable per annum or
other period) hull or liability insurance deductibles imposed by the aircraft or hull liability insurers. 
 (d) Application of Insurance
Payments. All losses will be adjusted by the Company with the insurers. As between the Loan Trustee and the Company it is agreed that all insurance payments received under policies required to be maintained by the

  

					
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Company hereunder, exclusive of any payments received in excess of the Loan Amount, as the result of the occurrence of an Event of Loss with respect to the Airframe or an Engine will be applied
as follows: 
 (i) if such payments are received with respect to the Airframe or the Airframe and any Engines installed on
the Airframe that has been or is being replaced by the Company pursuant to Section 7.05(a), such payments shall be paid over to, or retained by, the Loan Trustee and upon completion of such replacement shall be paid over to, or retained by, the
Company; 
 (ii) if such payments are received with respect to the Airframe or the Airframe and any Engines installed on the
Airframe that has not been and will not be replaced as contemplated by Section 7.05(a), so much of such payments remaining after reimbursement of the Loan Trustee for its actual and reasonable out-of-pocket costs and expenses as shall not exceed the amounts required to be paid by the Company pursuant to Section 2.10 hereof shall be applied in reduction of the Company’s obligation to pay
such amounts, if not already paid by the Company, or, if already paid by the Company, shall be applied to reimburse the Company for its payment of such amounts and the balance, if any, of such payment remaining thereafter will be paid over to, or
retained by, the Company; and 
 (iii) if such payments are received with respect to an Engine with regard to which an Event
of Loss has occurred, so much of such payments remaining after reimbursement of the Loan Trustee for its actual and reasonable out-of-pocket costs and expenses shall be
paid over to, or retained by, the Company; provided that the Company shall have fully performed its obligations under Section 7.05(b) with respect to the Event of Loss for which such payments are made. 

In all events, (x) the insurance payment of any property damage or loss with respect to property other than the Airframe or any
Engine received under policies maintained by the Company, and (y) the insurance payment for any loss or damage to the Aircraft in excess of the Loan Amount, shall be paid to the Company or its designee. 

The insurance payments for any loss or damage to the Airframe or an Engine not constituting an Event of Loss with respect to the Airframe or
such Engine will be applied in payment (or to reimburse the Company) for repairs or for replacement property in accordance with the terms of Section 7.02 and Section 7.04, and any balance remaining

  

					
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after compliance with such Sections with respect to such loss or damage shall be paid to the Company. Any amount referred to in the preceding sentence or in clause (i) or (iii) of the
second preceding paragraph that is payable to the Company shall not be paid to the Company (or, if it has been previously paid directly to the Company, shall not be retained by the Company) if at the time of such payment an Event of Default or
Payment Default shall have occurred and be continuing, but shall be paid to and, subject to Section 5.06, held by the Loan Trustee as security for the obligations of the Company under this Indenture and the Participation Agreement, and at such
time as there shall not be continuing any such Event of Default or Payment Default, such amount shall be paid to the Company. 
 (e)
Reports, Etc. On or before the Closing Date and annually upon renewal of the Company’s insurance coverage, the Company will furnish to the Loan Trustee and each Liquidity Provider a report signed by a firm of independent aircraft
insurance brokers appointed by the Company (which firm may be in the regular employ of the Company), stating the opinion of such firm that the commercial hull and liability insurance then carried and maintained on the Aircraft complies with the
terms hereof; provided that all information contained in such report shall be Confidential Information and shall be treated by the Loan Trustee, each Liquidity Provider and each of their affiliates and officers, directors, agents and
employees in accordance with the provisions of Section 10.16. The Company will use commercially reasonable efforts to cause such firm to agree to advise the Loan Trustee and each Liquidity Provider in writing of any act or omission on the part
of the Company of which such firm has knowledge that might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. The Company will also use commercially reasonable efforts to cause such firm to advise the Loan
Trustee and each Liquidity Provider in writing as promptly as practicable after such firm acquires knowledge that an interruption of any insurance carried and maintained on the Aircraft pursuant to this Section 7.06 will occur. Such information
may only be provided to other Persons in accordance with Section 10.16. 
 (f) Salvage Rights; Other. All salvage rights to the
Airframe and each Engine shall remain with the Company’s insurers or the applicable Permitted Lessee’s insurers, as the case may be, at all times, and any insurance policies of the Loan Trustee insuring the Airframe or any Engine shall
provide for a release to the Company of any and all salvage rights in and to the Airframe or any Engine. 
 (g) Right to Pay Premium.
In the event of cancellation of any insurance required to be maintained hereunder due to the nonpayment of premiums, the Loan Trustee shall have the option, in its sole discretion, to pay any such premium in respect to the Aircraft that is due in
respect of the coverage pursuant to this Indenture and to maintain such coverage, as the Loan Trustee may require, until the scheduled expiry 

  

					
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date of such insurance and, in such event, the Company shall, upon demand, reimburse the Loan Trustee for amounts so paid by it. 

(h) Insurance for Own Account. Nothing in this Section 7.06 shall limit or prohibit (i) the Company from maintaining
the policies of insurance required pursuant to this Section 7.06 with higher limits than those specified herein or (ii) the Loan Trustee or the Company from obtaining insurance for its own account, and at its sole expense, with
respect to the Airframe or any Engine (and any proceeds payable under such insurance shall be payable as provided in the insurance policy relating thereto); provided that no such insurance may be obtained which would limit or otherwise
adversely affect the coverage or amounts payable under, or increase the premiums for, any insurance required to be maintained pursuant to this Section 7.06 or any other insurance maintained by the Company (or any Permitted Lessee) with respect
to the Aircraft or any other aircraft in the Company’s (or such Permitted Lessee’s) fleet. 
 ARTICLE VIII 

Successor and Additional Trustees 

Section 8.01 Resignation or Removal; Appointment of Successor. 

(a) The resignation or removal of the Loan Trustee and the appointment of a successor Loan Trustee shall become effective only upon the
successor Loan Trustee’s acceptance of appointment as provided in this Section 8.01. The Loan Trustee or any successor thereto must resign if at any time it ceases to be eligible in accordance with the provisions of Section 8.01(c)
and may resign at any time without cause by giving at least 60 days’ prior written notice to the Company and each Noteholder. In addition, either the Company (so long as no Event of Default or Payment Default shall have occurred and be
continuing) or a Majority in Interest of Noteholders (but only with the consent of the Company so long as no Event of Default or Payment Default shall have occurred and be continuing), may at any time remove the Loan Trustee without cause by an
instrument in writing delivered to the Loan Trustee and each Noteholder, and, in case of a removal by a Majority in Interest of Noteholders, to the Company. In the case of the resignation or removal of the Loan Trustee, the Company shall promptly
appoint a successor Loan Trustee. If a successor Loan Trustee has not been appointed within 60 days after such notice of resignation or removal, the Loan Trustee, the Company or any Noteholder may apply to any court of competent jurisdiction to
appoint a successor Loan Trustee to act until such time, if any, as a successor is appointed as above provided. The successor 

  

					
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Loan Trustee so appointed by such court shall immediately and without further act be superseded by any successor Loan Trustee appointed as above provided. 

(b) Any successor Loan Trustee, however appointed, shall execute and deliver to the predecessor Loan Trustee and the Company an instrument
accepting such appointment and assuming the obligations of the Loan Trustee arising from and after the time of such appointment, and thereupon such successor Loan Trustee, without further act, shall become vested with all the estates, properties,
rights, powers and duties of the predecessor Loan Trustee in the trust hereunder applicable to it with like effect as if originally named the Loan Trustee herein; but nevertheless upon the written request of such successor Loan Trustee, such
predecessor Loan Trustee shall execute and deliver an instrument transferring to such successor Loan Trustee all the estates, properties, rights and powers of such predecessor Loan Trustee, and such predecessor Loan Trustee shall duly assign,
transfer, deliver and pay over to such successor Loan Trustee all monies or other property and all other books and records, or true, correct and complete copies thereof, then held by such predecessor Loan Trustee. 

(c) This Indenture shall at all times have a Loan Trustee, however appointed, that is a Citizen of the United States (without the use of a
voting trust) and a bank or trust company having a combined capital and surplus of at least $75,000,000 (or a combined capital and surplus in excess of $5,000,000 and the obligations of which, whether now in existence or hereafter incurred, are
fully and unconditionally guaranteed by a corporation organized and doing business under the laws of the United States or any state or territory thereof or the District of Columbia and having a combined capital and surplus of at least $75,000,000)
or a corporation with a net worth of at least $75,000,000, if there be such an institution willing, able and legally qualified to perform the duties of the Loan Trustee upon reasonable or customary terms. If such bank, trust company or corporation
publishes reports of conditions at least annually, pursuant to law or to the requirements of federal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section 8.01(c) the combined
capital and surplus of such bank, trust company or corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of conditions so published. In case at any time the Loan Trustee ceases to be eligible in
accordance with the provisions of this Section 8.01(c), the Loan Trustee shall resign immediately in the manner and with the effect specified in Section 8.01(a). 

(d) Any bank, trust company or corporation into which the Loan Trustee may be merged or converted or with which it may be consolidated, or any
bank, trust company or corporation resulting from any merger, conversion or consolidation to which the Loan Trustee is a party, or any bank, trust company or corporation to which substantially all the corporate trust business of the Loan Trustee may
be transferred, shall, subject to the 

  

					
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terms of Section 8.01(c), be a successor Loan Trustee under this Indenture without further act. 

Section 8.02 Appointment of Additional and Separate Trustees. 

(a) Whenever (i) the Loan Trustee deems it necessary or desirable in order to conform to any law of any jurisdiction in which all
or any part of the Collateral is situated or to make any claim or bring any suit with respect to or in connection with the Collateral, any Operative Document or any of the transactions contemplated by the Operative Documents, (ii) the
Loan Trustee shall be advised by counsel satisfactory to it that it is necessary or prudent in the interests of the Noteholders (and the Loan Trustee shall so advise the Company) or (iii) the Loan Trustee has been requested to do so by a
Majority in Interest of Noteholders, then in any such case, the Loan Trustee and, upon the written request of the Loan Trustee, the Company, shall execute and deliver an indenture supplemental hereto and such other, instruments as from time to time
are necessary or advisable either (1) to constitute one or more banks or trust companies or corporations meeting the requirements of Section 8.01(c) and approved by the Loan Trustee, either to act jointly with the Loan Trustee as
additional trustee or trustees of all or any part of the Collateral or to act as separate trustee or trustees of all or any part of the Collateral, in each case with such rights, powers, duties and obligations consistent with this Indenture as is
provided in such supplemental indenture or other instruments as the Loan Trustee or a Majority in Interest of Noteholders deems necessary or advisable, or (2) to clarify, add to or subtract from the rights, powers, duties and obligations
theretofore granted any such additional or separate trustee, subject in each case to the remaining provisions of this Section 8.02. If no Event of Default has occurred and is continuing, no additional or supplemental trustee shall be appointed
without the Company’s consent. If an Event of Default shall have occurred and be continuing, the Loan Trustee may act under the foregoing provisions of this Section 8.02(a) without the concurrence of the Company, and, to the extent
permitted by applicable law, the Company hereby irrevocably appoints (which appointment is coupled with an interest) the Loan Trustee as its agent and attorney-in-fact
to act for it under the foregoing provisions of this Section 8.02(a). The Loan Trustee may, in such capacity, execute, deliver and perform any such supplemental indenture, or any such instrument, as may be required for the appointment of any
such additional or separate trustee or for the clarification of, addition to or subtraction from the rights, powers, duties or obligations theretofore granted to any such additional or separate trustee, subject in each case to the remaining
provisions of this Section 8.02. In case any additional or separate trustee appointed under this Section 8.02(a) becomes incapable of acting, resigns or is removed, all the assets, property, rights, powers, trusts, duties and obligations
of such additional or separate trustee shall revert to the Loan Trustee until a successor additional or separate trustee is appointed as provided in this Section 8.02(a). 

  

					
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 (b) No additional or separate trustee shall be entitled to exercise any of the rights, powers,
duties and obligations conferred upon the Loan Trustee in respect of the custody, investment and payment of monies and all monies received by any such additional or separate trustee from or constituting part of the Collateral or otherwise payable
under any Operative Documents to the Loan Trustee shall be promptly paid over by it to the Loan Trustee. All other rights, powers, duties and obligations conferred or imposed upon any additional or separate trustee shall be exercised or performed by
the Loan Trustee and such additional or separate trustee jointly except to the extent that applicable law of any jurisdiction in which any particular act is to be performed renders the Loan Trustee incompetent or unqualified to perform such act, in
which event such rights, powers, duties and obligations (including the holding of title to all or part of the Collateral in any such jurisdiction) shall be exercised and performed by such additional or separate trustee. No additional or separate
trustee shall take any discretionary action except on the instructions of the Loan Trustee or a Majority in Interest of Noteholders. No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder,
except that the Loan Trustee shall be liable for the consequences of its lack of reasonable care in selecting, and the Loan Trustee’s own actions in acting with, any additional or separate trustee. Each additional or separate trustee appointed
pursuant to this Section 8.02 shall be subject to, and shall have the benefit of Articles IV, V, VI, VIII, IX and X insofar as they apply to the Loan Trustee. The powers of any additional or separate trustee appointed pursuant to this
Section 8.02 shall not in any case exceed those of the Loan Trustee. 
 (c) If at any time the Loan Trustee deems it no longer necessary
or desirable or in the event that the Loan Trustee has been requested to do so in writing by a Majority in Interest of Noteholders, the Loan Trustee and, upon the written request of the Loan Trustee, the Company, shall execute and deliver an
indenture supplemental hereto and all other instruments and agreements necessary or proper to remove any additional or separate trustee. The Loan Trustee may act on behalf of the Company under this Section 8.02(c) when and to the extent it
could so act under Section 8.02(a). In any case, the Company may remove an additional or separate trustee in the manner set forth in Section 8.01. 

ARTICLE IX 
 Amendments and
Waivers 
 Section 9.01 Amendments to this Indenture without Consent of Holders. At any time after the date hereof, the
Company may and the Loan Trustee shall, at the Company’s request, enter into one or more agreements supplemental hereto and to amend 

  

					
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the Equipment Notes without notice to or consent of any Noteholder, Indenture Indemnitee or Related Indenture Indemnitee for any of the following purposes: (i) to evidence the
succession of another Person to the Company and the assumption by any such successor of the covenants of the Company contained in any Operative Documents pursuant to Section 6.02(e) of the Participation Agreement; (ii) to cure any
defect or inconsistency herein or in the Equipment Notes, or to make any change not inconsistent with the provisions hereof (provided that such change does not adversely affect the interests of any Noteholder, any Indenture Indemnitee or any
Related Indenture Indemnitee in its capacity solely as Noteholder, Indenture Indemnitee or Related Indenture Indemnitee, as the case may be); (iii) to cure any ambiguity or correct any mistake; (iv) to evidence the succession
of a new trustee hereunder pursuant hereto or the removal of the trustee hereunder or to provide for or facilitate the appointment of an additional or separate trustee pursuant to Section 8.02; (v) to convey, transfer, assign,
mortgage or pledge any property to or with the Loan Trustee; (vi) to make any other provisions or amendments with respect to matters or questions arising hereunder or under the Equipment Notes, or to amend, modify or supplement any
provision hereof or thereof, so long as such action shall not adversely affect the interests of any Noteholder, any Indenture Indemnitee or any Related Indenture Indemnitee in its capacity solely as Noteholder, Indenture Indemnitee or Related
Indenture Indemnitee, as the case may be; (vii) to correct, supplement or amplify the description of any property at any time subject to the Lien of this Indenture, or better to assure, convey and confirm unto the Loan Trustee any
property subject or required to be subject to the Lien of this Indenture or to subject to the Lien of this Indenture the Airframe or Engines or any Substitute Airframe, Replacement Airframe or Replacement Engine; (viii) to add to the
covenants of the Company for the benefit of the Noteholders, the Indenture Indemnitees or the Related Indenture Indemnitees or to surrender any rights or power herein conferred upon the Company; (ix) to add to the rights of the
Noteholders, the Indenture Indemnitees or the Related Indenture Indemnitees; (x) to include on the Equipment Notes any legend as may be required by law or as otherwise necessary or advisable; (xi) to comply with any
applicable requirements of the Trust Indenture Act, or any other requirements of applicable law or of any regulatory body; (xii) to give effect to the replacement of a Liquidity Provider with a Replacement Liquidity Provider and the
replacement of a Liquidity Facility with a Replacement Liquidity Facility therefor, and, if a Replacement Liquidity Facility is to be comprised of more than one instrument as contemplated by the definition of the term “Replacement Liquidity
Facility” in the Intercreditor Agreement, to incorporate appropriate mechanics for multiple instruments for such Replacement Liquidity Facility for a single Pass Through Trust (including,
without limitation, amendments to Section 2.14 with respect to the Replacement Liquidity Provider for such Replacement Liquidity Facility); (xiii) to give effect to the replacement of the Depositary with a Replacement Depositary (as
defined in the Note Purchase Agreement) and the replacement of a Deposit Agreement with a Replacement Deposit Agreement (as defined in the Note Purchase Agreement); (xiv) to evidence the succession of a new escrow agent or a new paying agent
under an Escrow Agreement pursuant thereto or the removal of the 

  

					
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escrow agent or the paying agent thereunder; (xv) to provide for the original issuance of Additional Series Equipment Notes of one or more Series (and Related Additional Series
Equipment Notes relating thereto) pursuant to clause (i) of the third sentence of Section 2.02 or the issuance of new Series A Equipment Notes (and new Related Series A Equipment Notes), new Series B Equipment Notes (and new Related Series
B Equipment Notes) or new Additional Series Equipment Notes of any one or more Series (and new Related Additional Series Equipment Notes relating thereto) pursuant to clause (ii) or (iii), as the case may be, of the third sentence of
Section 2.02, and for the issuance of pass through certificates by any pass through trust that acquires any such Additional Series Equipment Notes (and Related Additional Series Equipment Notes), new Series A Equipment Notes (and new Related
Series A Equipment Notes), new Series B Equipment Notes (and new Related Series B Equipment Notes) or new Additional Series Equipment Notes (and new Related Additional Series Equipment Notes) and to make changes relating to any of the foregoing
(including, without limitation, to provide for any prefunding mechanism in connection therewith or to provide for the priority in payment among different Series of Additional Series Equipment Notes) and to provide for any credit support for any pass
through certificates relating to any such Additional Series Equipment Notes (and Related Additional Series Equipment Notes), new Series A Equipment Notes (and new Related Series B Equipment Notes), new Series B Equipment Notes (and new Related
Series B Equipment Notes) or new Additional Series Equipment Notes (and new Related Additional Series Equipment Notes) (including, without limitation, to secure claims for fees, interest, expenses, reimbursement of advances and other obligations
arising from such credit support (including, without limitation, to specify such credit support as a “Liquidity Facility” and the provider of any such credit support as a “Liquidity Provider” and, if such Liquidity Facility is to
be comprised of more than one instrument, to incorporate appropriate mechanics for multiple Liquidity Facilities for a single Pass Through Trust)); provided that any such Additional Series Equipment Notes, new Series A Equipment Notes, new
Series B Equipment Notes or new Additional Series Equipment Notes, as the case may be, are issued in accordance with Section 4(a)(v) of the Note Purchase Agreement, Section 2.02 of the Participation Agreement and Section 8.01(c) or
8.01(d) of the Intercreditor Agreement, as applicable, and (xvi) to provide for the issuance of “Additional Series Equipment Notes” of one or more Series or new “Series A Equipment Notes” or new “Series B
Equipment Notes” or new “Additional Series Equipment Notes” in each case under any or all Related Indentures and other matters incidental or relating thereto. 

Section 9.02 Amendments to this Indenture with Consent of Holders. 

(a) With the written consent of a Majority in Interest of Noteholders, the Company may, and the Loan Trustee shall, subject to
Section 9.06, at any time and from time to time, enter into such supplemental agreements to add any provisions to or to change or eliminate any provisions of this Indenture or of any such supplemental

  

					
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agreements or to modify in any manner the rights and obligations of the Company, the Loan Trustee and the Noteholders under this Indenture; provided that, without the consent of each
Noteholder affected thereby, an amendment under this Section 9.02 may not: 
 (1) reduce the principal amount of,
Make-Whole Amount, if any, or interest on, any Equipment Note; 
 (2) change the date on which any principal amount of,
Make-Whole Amount, if any, or interest on any Equipment Note, is due or payable; 
 (3) create any Lien with respect to the
Collateral prior to or pari passu with the Lien thereon under this Indenture except such as are permitted by this Indenture, or deprive any Noteholder of the benefit of the Lien on the Collateral created by this Indenture, except as provided
in connection with the exercise of remedies under Article IV; provided that, without the consent of each holder of an affected Related Equipment Note then outstanding, no such amendment, waiver or modification of terms of, or consent under,
any thereof shall modify Section 3.03 or this clause (3) or deprive any Related Noteholder of the benefit of the Lien of this Indenture on the Collateral, except as provided in connection with the exercise of remedies under Article IV;

 (4) reduce the percentage of the outstanding principal amount of the Equipment Notes the consent of whose holders is
required for any such supplemental agreement, or the consent of whose holders is required for any waiver of compliance with certain provisions of this Indenture or of certain defaults hereunder or their consequences provided for in this Indenture;
or 
 (5) make any change in Section 4.05 or this Section 9.02, except to provide that certain other provisions of
this Indenture cannot be modified or waived without the consent of each Noteholder affected thereby. 
 Notwithstanding the
foregoing, neither the Company nor the Loan Trustee shall enter into any amendment, waiver or modification of, or supplement or consent to, this Indenture or any other Operative Document other than the Participation Agreement (which is
addressed in Section 9.03) which shall reduce, modify or amend any indemnities in favor of any Liquidity Provider without the consent of such Liquidity Provider that is subject to such reduction, modification or amendment. 

  

					
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 (b) It is not necessary under this Section 9.02 for the Noteholders to consent to the
particular form of any proposed supplemental agreement, but it is sufficient if they consent to the substance thereof. 
 (c) Promptly after
the execution by the Company and the Loan Trustee of any supplemental agreement pursuant to the provisions of this Section 9.02, the Loan Trustee shall transmit by first-class mail a notice, setting forth in general terms the substance of such
supplemental agreement, to all Noteholders, as the names and addresses of such Noteholders appear on the Equipment Note Register. Any failure of the Loan Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or
affect the validity of any such supplemental agreement. 
 Section 9.03 Amendments, Waivers, Etc. of the Participation
Agreement. Without the consent of a Majority in Interest of Noteholders, the respective parties to the Participation Agreement may not modify, amend or supplement such agreement, or give any consent, waiver, authorization or approval thereunder,
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions thereof or of modifying in any manner the rights of the respective parties thereunder; provided that, without the consent of the Loan
Trustee, any Noteholder, any other Indenture Indemnitee or any Related Indenture Indemnitee, the Participation Agreement may be modified, amended or supplemented in order (i) to cure any defect or inconsistency therein or to cure any
ambiguity or correct any mistake, (ii) to amend, modify or supplement any provision thereof or make any other provision with respect to matters or questions arising thereunder or under this Indenture (provided that the making of
any such other provision shall not materially adversely affect the interests of the Noteholders) or (iii) to make any other change, or reflect any other matter, of the kind referred to in clauses (i) through (xvi) of
Section 9.01. Notwithstanding the foregoing, without the consent of any Liquidity Provider, the Company shall not enter into any amendment, waiver or modification of or supplement or consent to the Participation Agreement which shall reduce,
modify or amend any indemnities in favor of such Liquidity Provider contained therein. 
 Section 9.04 Revocation and Effect of
Consents. Until an amendment or waiver becomes effective, a consent to it by a Noteholder is a continuing consent by the Noteholder and every subsequent Noteholder, even if notation of the consent is not made on any Equipment Note. 

Section 9.05 Notation on or Exchange of Equipment Notes. The Loan Trustee may place an appropriate notation about an amendment or
waiver on any Equipment 

  

					
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Note thereafter executed. The Loan Trustee in exchange for such Equipment Notes may execute new Equipment Notes that reflect the amendment or waiver. 

Section 9.06 Trustee Protected. If, in the reasonable opinion of the institution acting as the Loan Trustee, any document required
to be executed by it pursuant to the terms of Section 9.01 or 9.02 adversely affects any right, duty, immunity or indemnity with respect to such institution under this Indenture, such institution may in its discretion decline to execute such
document. 
 Section 9.07 No Consent of Individual Indenture Indemnitees Required. Notwithstanding anything in this Indenture or
any other Operative Document to the contrary, when any provision hereof or thereof would otherwise require a consent of an Indenture Indemnitee, such provision shall always be construed to require only the consent of an Indenture Indemnitee other
than any Indenture Indemnitee covered by clause (ix) of the definition of “Indenture Indemnitees”. 
 ARTICLE X 

Miscellaneous 

Section 10.01 Termination of Indenture. Subject to Sections 7.04 and 7.05, upon (or at any time after) payment in full of the
principal amount of, Make-Whole Amount, if any, and interest on and all other amounts then due under all Equipment Notes and provided that there shall then be (x) no other Secured Obligations due and unpaid to the Noteholders, the Loan
Trustee and the other Indenture Indemnitees hereunder, under the Participation Agreement or any other Operative Document, and (y) no Related Secured Obligations due and unpaid under any Related Indenture or any other “Operative
Document” (as defined in any Related Indenture), the Company shall direct the Loan Trustee to execute and deliver to or as directed in writing by the Company an appropriate instrument releasing the Aircraft and the Engines and (subject to
paragraph (xi) of clause “third” of Section 3.03, if applicable) all other Collateral from the Lien of this Indenture and the Loan Trustee shall execute and deliver such instrument as aforesaid; provided that this
Indenture and the trusts created hereby shall earlier terminate and this Indenture shall be of no further force or effect upon any sale or other final disposition by the Loan Trustee of all property constituting part of the Collateral and the final
distribution by the Loan Trustee of all monies or other property or proceeds constituting part of the Collateral in accordance with the terms hereof. Except as aforesaid otherwise provided, this Indenture and the trusts created hereby shall continue
in full force and effect in accordance with the terms hereof. 

  

					
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 Section 10.02 No Legal Title to Collateral in Noteholders. No holder of an Equipment
Note or a Related Equipment Note shall have legal title to any part of the Collateral. No transfer, by operation of law or otherwise, of any Equipment Note, Related Equipment Note or other right, title and interest of any Noteholder or Related
Noteholder in and to the Collateral or hereunder shall operate to terminate this Indenture or entitle such holder or any successor or transferee of such holder to an accounting or to the transfer to it of any legal title to any part of the
Collateral. 
 Section 10.03 Sale of Aircraft by the Loan Trustee is Binding. Any sale or other conveyance of the Aircraft, the
Airframe, any Engine or any interest therein by the Loan Trustee made pursuant to the terms of this Indenture shall bind the Noteholders and the Company and shall be effective to transfer or convey all right, title and interest of the Loan Trustee,
the Company and such Noteholders in and to such Aircraft, Airframe, Engine or interest therein. No purchaser or other grantee shall be required to inquire as to the authorization, necessity, expediency or regularity of such sale or conveyance or as
to the application of any sale or other proceeds with respect thereto by the Loan Trustee or the Noteholders. 
 Section 10.04
Indenture for Benefit of the Company, the Loan Trustee and Noteholders. Nothing in this Indenture, whether express or implied, shall be construed to give any Person other than the Company, the Noteholders, the Loan Trustee, the other
Indenture Indemnitees, the Related Loan Trustees and the Related Indenture Indemnitees any legal or equitable right, remedy or claim under or in respect of this Indenture, except that the Persons referred to in the second to last full paragraph of
Section 7.02(a) shall be third party beneficiaries of such paragraph. 
 Section 10.05 Notices. Unless otherwise expressly
specified or permitted by the terms hereof, all notices, requests, demands, authorizations, directions, consents, waivers or documents required or permitted under the terms and provisions of this Indenture shall be in English and in writing, and any
such notice may be given by United States mail, courier service, facsimile, and any such notice shall be effective when delivered (or, if mailed, three Business Days after deposit, postage prepaid, in the first class U.S. mail and, if delivered by
facsimile, upon completion of transmission and confirmation by the sender (by a telephone call to a representative of the recipient or by machine confirmation) that such transmission was received) addressed as follows: 

  

					
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 if to the Company, addressed to: 

Spirit Airlines, Inc. 

2800 Executive Way 

Miramar, Florida 33025 

Attention: Legal Department and Treasury Department 

Telephone: (954) 447-7914 (Legal) 

Facsimile: (954) 447-7854 (Legal) 

if to the Loan Trustee, addressed to: 

Wilmington Trust, National Association 

1100 North Market Street 

Wilmington, Delaware 19890-1605 

Attention: Corporate Trust Administration – Jacqueline Solone 

Ref.: Spirit 2017-1 EETC 

Telephone: (302) 636-6387 

Facsimile: (302) 636-4140; 

if to any Noteholder, addressed to such Noteholder at its address set forth in the Equipment Note Register maintained pursuant to
Section 2.07; 
 if to any Indenture Indemnitee other than the Loan Trustee, addressed to the address of such party (if any) set forth
in Section 7.01 of the Participation Agreement or to such other address as such Indenture Indemnitee shall have furnished by notice to the Company and the Loan Trustee; and 

if to any Related Indenture Indemnitee, addressed to such Related Indenture Indemnitee at its address set forth in the Equipment Note Register
(defined in the applicable Related Indenture) maintained pursuant to Section 2.07 of the applicable Related Indenture. 
 Any party, by
notice to the other parties hereto, may designate different addresses for subsequent notices or communications. Whenever the words “notice” or “notify” or similar words are used herein, they mean the provision of formal notice as
set forth in this Section 10.05. 
 Section 10.06 Severability. To the extent permitted by applicable law, any provision of
this Indenture that is prohibited or unenforceable in any jurisdiction shall, as 

  

					
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to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in
any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 Section 10.07 No Oral
Modification or Continuing Waivers. No terms or provisions of this Indenture or of the Equipment Notes may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the Company and the Loan Trustee, in
compliance with Article IX. Any waiver of the terms hereof or of any Equipment Note shall be effective only in the specific instance and for the specific purpose given. 

Section 10.08 Successors and Assigns. All covenants and agreements contained herein shall bind and inure to the benefit of, and be
enforceable by, each of the parties hereto and the successors and permitted assigns of each, all as herein provided. Any request, notice, direction, consent, waiver or other instrument or action by any Noteholder shall bind the successors and
permitted assigns of such Noteholder. Each Noteholder by its acceptance of an Equipment Note agrees to be bound by (i) this Indenture and all provisions of the Participation Agreement, the other Operative Documents and the Pass Through
Documents applicable to a Noteholder and (ii) all provisions of each Related Indenture applicable to a Related Noteholder to the extent such Noteholder is such Related Noteholder. 

Section 10.09 Headings. The headings of the various Articles and Sections herein and in the Table of Contents hereto are for
convenience of reference only and shall not define or limit any of the terms or provisions hereof. 
 Section 10.10 Normal
Commercial Relations. Anything contained in this Indenture to the contrary notwithstanding, the Loan Trustee, any Noteholder or any other party to any of the Operative Documents or the Pass Through Documents or any of their affiliates may
conduct any banking or other financial transactions, and have banking or other commercial relationships, with the Company, fully to the same extent as if this Indenture were not in effect, including without limitation the making of loans or other
extensions of credit to the Company for any purpose whatsoever, whether related to any of the transactions contemplated hereby or otherwise. 

Section 10.11 Voting by Noteholders. All votes of the Noteholders shall be governed by a vote of a Majority in Interest of
Noteholders, except as otherwise provided herein. 

  

					
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 Section 10.12 Section 1110. It is the intention of the parties
hereto that the security interest created hereby, to the fullest extent available under applicable law, entitles the Loan Trustee, on behalf of the Noteholders, to all of the benefits of Section 1110 with respect to the Aircraft. 

Section 10.13 The Company’s Performance and Rights. Any obligation imposed on the Company herein shall require
only that the Company perform or cause to be performed such obligation, even if stated as a direct obligation, and the performance of any such obligation by any permitted assignee, lessee or transferee under an assignment, lease or transfer
agreement then in effect and in accordance with the provisions of the Operative Documents shall constitute performance by the Company and, to the extent of such performance, discharge such obligation by the Company. Except as otherwise expressly
provided herein, any right granted to the Company in this Indenture shall grant the Company the right to permit such right to be exercised by any such assignee, lessee or transferee, and, in the case of a lessee, as if the terms hereof were
applicable to such lessee were such lessee the Company hereunder. The inclusion of specific references to obligations or rights of any such assignee, lessee or transferee in certain provisions of this Indenture shall not in any way prevent or
diminish the application of the provisions of the two sentences immediately preceding with respect to obligations or rights in respect of which specific reference to any such assignee, lessee or transferee has not been made in this Indenture. 

Section 10.14 Counterparts. This Indenture may be executed in any number of counterparts (and each of the parties hereto shall not
be required to execute the same counterpart). Each counterpart of this Indenture including a signature page or pages executed by each of the parties hereto shall be an original counterpart of this Indenture, but all of such counterparts together
shall constitute one instrument. 
 Section 10.15 Governing Law. THIS INDENTURE HAS BEEN DELIVERED IN THE STATE OF NEW YORK AND
THIS INDENTURE, ANY INDENTURE SUPPLEMENT AND THE EQUIPMENT NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE. 

Section 10.16 Confidential Information. The term “Confidential Information” means: (a) the existence
and terms of any lease of the Airframe or Engines pursuant to Section 7.02(a) and the identity of the Permitted Lessee thereunder; (b) all information obtained in connection with any inspection conducted by the Loan Trustee or its
authorized representatives pursuant to Section 7.03(a); (c) each certification furnished to 

  

					
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the Loan Trustee pursuant to Sections 7.06(a) and 7.06(b); (d) all information contained in each report furnished to the Loan Trustee pursuant to Section 7.06(e); and
(e) all information designated by the Company as non-public information. All Confidential Information shall be held confidential by the Loan Trustee and each Noteholder and each affiliate, agent,
officer, director, or employee of any thereof and shall not be furnished or disclosed by any of them to anyone other than (i) the Loan Trustee or any Noteholder and (ii) their respective bank examiners, auditors, accountants,
agents and legal counsel, and except as may be required by an order of any court or administrative agency or by any statute, rule, regulation or order of any governmental authority. 

Section 10.17 Submission to Jurisdiction. Each of the parties hereto, and by acceptance of Equipment Notes, each Noteholder, to
the extent it may do so under applicable law, for purposes hereof and of all other Operative Documents hereby (a) irrevocably submits itself to the non-exclusive jurisdiction of the courts of the
State of New York sitting in the City of New York and to the non-exclusive jurisdiction of the United States District Court for the Southern District of New York, for the purposes of any suit, action or other
proceeding arising out of this Indenture, the subject matter hereof or any of the transactions contemplated hereby brought by any party or parties hereto or thereto, or their successors or permitted assigns and (b) waives, and agrees not
to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this
Indenture or the Equipment Notes or the subject matter hereof or any of the transactions contemplated hereby may not be enforced in or by such courts. 

[Signature Pages Follow.] 

  

					
		  	93	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

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 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed by their
respective officers thereof duly authorized, as of the date first above written. 
  

			
	SPIRIT AIRLINES, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, except as expressly provided herein, but solely as Loan Trustee
		
	By:	 	  

		 	Name:
		 	Title:

 Signature Page 

  

					
		  		  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Exhibit A 

to Indenture and Security Agreement 

([REG. NO.]) 
 FORM OF
INDENTURE SUPPLEMENT 
 INDENTURE SUPPLEMENT NO.              

INDENTURE SUPPLEMENT NO.         , dated
                                , 20        
(“Indenture Supplement”), between SPIRIT AIRLINES, INC. (the “Company”) and WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Loan Trustee under the Indenture (each as hereinafter
defined). 
 W I T N E S S E T H: 

WHEREAS, the Indenture and Security Agreement ([REG. NO.]), dated as of
                        , 20         (the “Indenture”; capitalized terms
used herein without definition shall have the meanings specified therefor in Annex A to the Indenture), between the Company and Wilmington Trust, National Association, not in its individual capacity, except as expressly provided therein, but solely
as Loan Trustee (the “Loan Trustee”), provides for the execution and delivery of supplements thereto substantially in the form hereof which shall particularly describe the Aircraft, and shall specifically grant a security interest
in the Aircraft to the Loan Trustee; and 
 [WHEREAS, the Indenture relates to the Airframe and Engines described in Annex A attached hereto
and made a part hereof, and a counterpart of the Indenture is attached to and made a part of this Indenture Supplement;]14 

[WHEREAS, the Company has, as provided in the Indenture, heretofore executed and delivered to the Loan Trustee Indenture Supplement(s) for the
purpose of specifically subjecting to the Lien of the Indenture certain airframes and/or engines therein described, which Indenture Supplement(s) is/are dated and has/have been duly recorded with the FAA as set forth below, to wit: 

Date Recordation Date         FAA Document Number]15 
 NOW, THEREFORE, (x) to secure the prompt and complete payment (whether at
stated maturity, by acceleration or otherwise) of principal of, Make-Whole Amount, if 
  
  

 

	14 	Use for Indenture Supplement No. 1 only. 

	15 	 Use for all Indenture Supplements other than Indenture Supplement No. 1.

  

					
		  	A-1	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

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any, and interest on, the Equipment Notes and all other Secured Obligations payable by the Company under the Operative Documents and the performance and observance by the Company of all the
agreements and covenants to be performed or observed by the Company for the benefit of the Noteholders and the Indenture Indemnitees contained in the Operative Documents and (y) to secure the Related Secured Obligations, and in
consideration of the premises and of the covenants contained in the Operative Documents and the Related Indentures, and for other good and valuable consideration given by the Noteholders, the Indenture Indemnitees and the Related Indenture
Indemnitees to the Company at or before the Closing Date, the receipt and adequacy of which is hereby acknowledged, the Company does hereby grant, bargain, sell, convey, transfer, mortgage, assign, pledge and confirm unto the Loan Trustee and its
successors in trust and permitted assigns, for the security and benefit of the Noteholders, each Indenture Indemnitee and each Related Indenture Indemnitee, a first priority security interest in, and mortgage lien on, all estate, right, title and
interest of the Company in, to and under the Aircraft, including the Airframe and the Engines described in Annex A attached hereto, whether or not any such Engine from time to time is installed on the Airframe or any other airframe or any other
aircraft, and any and all Parts relating thereto, and, to the extent provided in the Indenture, all substitutions and replacements of, and additions, improvements, accessions and accumulations to, the Aircraft, including the Airframe, the Engines
and any and all Parts (in each case other than Excluded Equipment) relating thereto; 
 To have and to hold all and singular the aforesaid
property unto the Loan Trustee, and its successors and permitted assigns, in trust for the equal and proportionate benefit and security of the Noteholders, the Indenture Indemnitees and the Related Indenture Indemnitees, except as otherwise provided
in the Indenture, including Section 2.13 and Article III of the Indenture, without any priority of any one Equipment Note over any other, or any Related Equipment Note over any other by reason of priority of time of issue, sale, negotiation,
date of maturity thereof or otherwise for any reason whatsoever, and for the uses and purposes and subject to the terms and provisions set forth in the Indenture. 

This Indenture Supplement shall be construed as supplemental to the Indenture and shall form a part thereof, and the Indenture is hereby
incorporated by reference herein and is hereby ratified, approved and confirmed. 
 THIS INDENTURE SUPPLEMENT HAS BEEN DELIVERED IN THE
STATE OF NEW YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE. 

  

					
		  	A-2	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 [Signature Pages Follow.] 

  

					
		  	A-3	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 IN WITNESS WHEREOF, the undersigned have caused this Indenture Supplement
No.          to be duly executed by their respective duly authorized officers, on the date first above written. 

 

			
	SPIRIT AIRLINES, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, except as expressly provided herein, but solely as Loan Trustee
		
	By:	 	  

		 	Name:
		 	Title:

 Signature Page 

  

					
		  		  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Annex A 

to Indenture Supplement No.         

([REG. NO.]) 
 DESCRIPTION OF
AIRFRAME AND ENGINES 
 AIRFRAME 
  

									
	 Manufacturer
	  	 Model
	  	 Generic

Manufacturer
 Model
	  	 FAA

Registration
 No.
	  	 Manufacturer’s

Serial No.

	 Airbus
	  		  		  		  	

 ENGINES 
  

							
	 Manufacturer
	  	 Model
	  	 Generic

Manufacturer
 Model
	  	 Manufacturer’s Serial Nos.

Each Engine has 550 or more rated take-off horsepower or the equivalent of such horsepower and is a
jet propulsion aircraft engine having at least 1750 pounds of thrust or the equivalent of such thrust. 

  

					
		  		  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Exhibit B 

to Indenture and Security Agreement 

([REG. NO.]) 
 LIST OF
PERMITTED COUNTRIES 
  

					
			
	Argentina	  	Greece	  	New Zealand
			
	Australia	  	Guatemala	  	Norway
			
	Austria	  	Hong Kong	  	Panama
			
	Bahamas	  	Hungary	  	Peoples’ Republic of China
			
	Barbados	  	Iceland	  	Poland
			
	Belgium	  	India	  	Portugal
			
	Bermuda Islands	  	Indonesia	  	Republic of China (Taiwan)
			
	Bolivia	  	Ireland	  	Russia
			
	Brazil	  	Italy	  	Singapore
			
	British Virgin Islands	  	Jamaica	  	South Africa
			
	Canada	  	Japan	  	South Korea
			
	Cayman Islands	  	Jordan	  	Spain
			
	Chile	  	Kuwait	  	Sweden
			
	Colombia	  	Liechtenstein	  	Switzerland
			
	Czech Republic	  	Luxembourg	  	Thailand
			
	Denmark	  	Malaysia	  	Trinidad and Tobago
			
	Ecuador	  	Malta	  	Turkey
			
	Egypt	  	Mexico	  	United Kingdom
			
	Finland	  	Monaco	  	Uruguay
			
	France	  	Netherlands Antilles	  	Venezuela
			
	Germany	  	Netherlands, the	  	

  

					
		  	B-1	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Exhibit C 

to Indenture and 
 Security Agreement

 ([REG. NO.]) 
 CERTAIN
TERMS 
  

			
	Insurance Threshold:	  	 $[8,000,000]16

 
 $[9,000,000]17

  

	16 	Insert for A320-200. 

	17 	Insert for A321-200. 

  

					
		  	C-1	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Schedule I 

to Indenture and 
 Security Agreement

 DESCRIPTION OF EQUIPMENT NOTES18 

The information set forth below this text in this Schedule has been intentionally omitted from the FAA filing copy as the parties hereto deem
it to contain confidential information. 
  
  

	18 	This page to be included only in the FAA filing package in the place of the completed amortization schedule. 

  

					
		  	I-1	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Schedule I 

to Indenture and 
 Security Agreement

 (Cont’d) 

DESCRIPTION OF EQUIPMENT NOTES 
  

					
	 	  	 Original Principal

Amount19
	  	Maturity Date
			
	 Series AA

Equipment Notes:
	  	$[•]	  	February 15, 2030
			
	 Series A

Equipment Notes:
	  	$[•]	  	February 15, 2030
			
	 Series B

Equipment Notes:
	  	$[•]	  	February 15, 2026

 CERTAIN DEFINED TERMS 
  

			
	 Defined Term
	  	 Definition

		
	Debt Rate for Series AA Equipment Notes	  	3.375% per annum
	Make-Whole Spread for Series AA Equipment Notes	  	0.15%
		
	Debt Rate for Series A Equipment Notes	  	3.650% per annum
	Make-Whole Spread for Series A Equipment Notes	  	0.20%
		
	Debt Rate for Series B Equipment Notes	  	3.800% per annum
	Make-Whole Spread for Series B Equipment Notes	  	0.30%

  

	19 	For each Series, to insert the amount set forth for such Series in Schedule III to the Note Purchase Agreement (including any adjustments if the Aircraft is an “Early Delivery Aircraft” (as defined in the Note
Purchase Agreement) to give effect to any Amortization Withdrawal (as defined in each Deposit Agreement) for the Aircraft). 

  

					
		  		  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Schedule I 

to Indenture and 
 Security Agreement

 (Cont’d) 
 EQUIPMENT
NOTES AMORTIZATION 
 SERIES AA EQUIPMENT NOTES20 

Airbus model [•] 
 [Reg. No.]

  

			
	Payment Date	  	 Percentage of

Original Principal Amount
 to be
Paid

 SERIES A EQUIPMENT NOTES21 

Airbus model [•] 
 [Reg. No.]

  

			
	Payment Date	  	 Percentage of

Original Principal Amount
 to be
Paid

 SERIES B EQUIPMENT NOTES22 

Airbus model [•] 
 [Reg. No.]

  
  

			
	Payment Date	  	 Percentage of

Original Principal Amount
 to be
Paid

  

	20 	For each Series, to insert the amount set forth for such Series in Schedule III to the Note Purchase Agreement (including any adjustments if the Aircraft is an “Early Delivery Aircraft” (as defined in the Note
Purchase Agreement) to give effect to any Amortization Withdrawal (as defined in each Deposit Agreement) for the Aircraft). 

	21 	For each Series, to insert the amount set forth for such Series in Schedule III to the Note Purchase Agreement (including any adjustments if the Aircraft is an “Early Delivery Aircraft” (as defined in the Note
Purchase Agreement) to give effect to any Amortization Withdrawal (as defined in each Deposit Agreement) for the Aircraft). 

	22 	For each Series, to insert the amount set forth for such Series in Schedule III to the Note Purchase Agreement (including any adjustments if the Aircraft is an “Early Delivery Aircraft” (as defined in the Note
Purchase Agreement) to give effect to any Amortization Withdrawal (as defined in each Deposit Agreement) for the Aircraft). 

  

					
		  		  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Schedule I 

to Indenture and 
 Security Agreement

 (Cont’d) 
 EQUIPMENT
NOTES AMORTIZATION23 
 The portion of this Schedule appearing below this text is intentionally
deleted from the FAA filing counterpart because the parties hereto deem it to contain confidential information. 
  

 

	23 	This page to be included only in the FAA filing package in the place of the completed amortization schedule. 

  

					
		  		  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Schedule II 

to Indenture and 
 Security Agreement

  

 PASS THROUGH TRUST AGREEMENT AND 

PASS THROUGH TRUST SUPPLEMENTS 

Pass Through Trust Agreement, dated as of August 11, 2015, between Spirit Airlines, Inc. and Wilmington Trust, National Association, as
trustee, as supplemented by Trust Supplement No. 2017-1AA, dated as of the Issuance Date. 

Pass Through Trust Agreement, dated as of August 11, 2015, between Spirit Airlines, Inc. and Wilmington Trust, National Association, as
trustee, as supplemented by Trust Supplement No. 2017-1A, dated as of the Issuance Date. 

Pass Through Trust Agreement, dated as of August 11, 2015, between Spirit Airlines, Inc. and Wilmington Trust, National Association, as
trustee, as supplemented by Trust Supplement No. 2017-1B, dated as of the Issuance Date. 

  

					
		  	II-1	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 Annex A to 

Participation Agreement and 

Indenture and Security Agreement 

([REG. NO.]) 
  

 DEFINITIONS 

([REG. NO.]) 

“Additional Series” or “Additional Series Equipment Notes” means Equipment Notes issued under the Indenture
and designated as a Series (other than “Series AA”, “Series A” or “Series B”) thereunder in the principal amounts and maturities and bearing interest as specified in Schedule I to the Indenture amended at the time of
original issuance of such Additional Series under the heading for such Series. 
 “Additional Series Pass Through
Certificates” means the pass through certificates issued by any Additional Series Pass Through Trust. 
 “Additional Series
Pass Through Trust” means a grantor trust created to facilitate the issuance and sale of pass through certificates in connection with the issuance of any Additional Series Equipment Notes. 

“Additional Series Pass Through Trust Agreement” means a Trust Supplement entered into in connection with the creation of an
Additional Series Pass Through Trust, together with the Basic Pass Through Trust Agreement, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms. 

“Additional Series Pass Through Trustee” means, with respect to any Additional Series Pass Through Trust, the trustee under
the Additional Series Pass Through Trust Agreement for such Additional Series Pass Through Trust. 
 “Affiliate” means with
respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control with such Person. For the purposes of this definition, “control” (including “controlled by” and “under common
control with”) shall mean the power, directly or indirectly, to direct or cause the direction of the management and policies of such Person whether through the ownership of voting securities or by contract or otherwise. In no event shall WTNA
be deemed to be an Affiliate of the Loan Trustee or vice versa. 
 “After-Tax
Basis” means that indemnity and compensation payments required to be made on such basis will be supplemented by the Person paying the base amount by that amount which, when added to such base amount, and after deduction of all Federal,
state, local and foreign Taxes required to be paid by or on behalf of the payee with respect of the receipt or realization of the base amount and any such supplemental amounts, and after consideration of any current tax savings of such payee
resulting by way of any deduction, credit or other tax benefit actually and currently realized that is attributable to such base amount or Tax, shall net such payee the full amount of such base amount. 

 

  

					
		  		  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Agreement” and “Participation Agreement” mean that certain
Participation Agreement ([REG. NO.]), dated on or before the Closing Date, among the Company, WTNA, the Pass Through Trustee under each Pass Through Trust Agreement, the Subordination Agent and the Loan Trustee, as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its terms. 
 “Aircraft” means the Airframe (or any
Substitute Airframe or Replacement Airframe substituted therefor pursuant to Section 7.04 or Section 7.05, respectively, of the Indenture) together with the two Engines described in the Indenture Supplement originally executed and
delivered under the Indenture (or any Replacement Engine that may from time to time be substituted for any of such Engines pursuant to Section 7.04 or Section 7.05 of the Indenture), whether or not any of such initial or substituted
Engines is from time to time installed on such Airframe or installed on any other airframe or on any other aircraft. The term “Aircraft” includes any Replacement Aircraft. 

“Aircraft Protocol” means the official English language text of the Protocol to the Convention on International Interests in
Mobile Equipment on Matters Specific to Aircraft Equipment, adopted on November 16, 2001, at a diplomatic conference in Cape Town, South Africa, and all amendments, supplements, and revisions thereto (and from and after the effective date of
the Cape Town Treaty in the relevant country, means when referring to the Aircraft Protocol with respect to that country, the Aircraft Protocol as in effect in such country, unless otherwise indicated). 

“Airframe” means (a) the Airbus [Model] (generic model [Generic Model]) aircraft (except (i) the
Engines or engines from time to time installed thereon and any and all Parts related to such Engine or engines and (ii) Excluded Equipment) specified on Annex A to the Indenture Supplement originally executed and delivered under the
Indenture and (b) any and all related Parts. The term “Airframe” includes any Substitute Airframe or Replacement Airframe that is substituted for the Airframe pursuant to Section 7.04 or Section 7.05, respectively, of
the Indenture. At such time as any Substitute Airframe or Replacement Airframe is so substituted and the Airframe for which such substitution is made is released from the Lien of the Indenture, such replaced Airframe shall cease to be an Airframe
under the Indenture. 
 “Airframe Warranties Agreement” means the Airframe Warranties Agreement, dated the Closing Date,
substantially in the form of Exhibit D to the Participation Agreement, executed by the Manufacturer and as supplemented, modified and amended by the Initial Notice, substantially in the form of Schedule 3 thereunder, dated the Closing Date and
executed by the Company as “Initial Entitled Party” and the Loan Trustee as “Initial Controlling Party” and acknowledged and agreed by the Manufacturer. 

“Appraisers” has the meaning set forth in the Intercreditor Agreement. 

“Bankruptcy Code” means the United States Bankruptcy Code, 11 United States Code §§101 et seq., as amended from
time to time, or any successor statutes thereto. 

  

					
		  	2	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Basic Pass Through Trust Agreement” means that certain Pass Through Trust
Agreement, dated as of August 11, 2015, between the Company and WTNA, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms (but does not include any Trust Supplement). 

“Business Day” means any day other than a Saturday, a Sunday or a day on which commercial banks are required or authorized to
close in New York, New York, Miramar, Florida, Wilmington, Delaware or, if different from the foregoing, the city and state in which the Loan Trustee, any Pass Through Trustee or the Subordination Agent maintains its Corporate Trust Office or
receives and disburses funds. 
 “Cape Town Convention” means the official English language text of the Convention on
International Interests in Mobile Equipment, adopted on November 16, 2001, at a diplomatic conference in Cape Town, South Africa, and all amendments, supplements, and revisions thereto (and from and after the effective date of the Cape Town
Treaty in the relevant country, means when referring to the Cape Town Convention with respect to that country, the Cape Town Convention as in effect in such country, unless otherwise indicated). 

“Cape Town Treaty” means, collectively, the official English language text of (a) the Convention on International
Interests in Mobile Equipment, and (b) the Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment, in each case adopted on November 16, 2001, at a diplomatic conference in
Cape Town, South Africa, and from and after the effective date of the Cape Town Treaty in the relevant country, means when referring to the Cape Town Treaty with respect to that country, the Cape Town Treaty as in effect in such country, unless
otherwise indicated, and (c) all rules and regulations adopted pursuant thereto and, in the case of each of the foregoing described in clauses (a) through (c), all amendments, supplements, and revisions thereto. 

“Certificated Air Carrier” means a Citizen of the United States holding an air carrier operating certificate issued by the
Secretary of Transportation pursuant to Chapter 447 of Title 49 of the United States Code for aircraft capable of carrying ten or more individuals or 6,000 pounds or more of cargo or that otherwise is certified or registered to the extent required
to fall within the purview of Section 1110. 
 “Citizen of the United States” has the meaning specified for such term
in Section 40102(a)(15) of Title 49 of the United States Code or any similar legislation of the United States enacted in substitution or replacement therefor. 

“Claim” has the meaning specified in Section 4.02(a) of the Participation Agreement. 

“Class A Certificates” means Pass Through Certificates issued by the Class A Pass Through Trust. 

“Class A Liquidity Facility” has the meaning set forth in the Intercreditor Agreement. 

“Class A Liquidity Provider” has the meaning set forth in the Intercreditor Agreement. 

  

					
		  	3	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Class A Pass Through Trust” means the Spirit Airlines Pass
Through Trust 2017-1A created pursuant to the Basic Pass Through Trust Agreement, as supplemented by Trust Supplement No. 2017-1A, dated as of the Issuance Date, between
the Company and WTNA, as Class A Trustee. 
 “Class A Trustee” means the trustee for the
Class A Pass Through Trust. 
 “Class AA Certificates” means Pass Through Certificates issued by
the Class AA Pass Through Trust. 
 “Class AA Liquidity Facility” has the meaning set forth in the
Intercreditor Agreement. 
 “Class AA Liquidity Provider” has the meaning set forth in the Intercreditor
Agreement. 
 “Class AA Pass Through Trust” means the Spirit Airlines Pass Through Trust 2017-1AA created pursuant to the Basic Pass Through Trust Agreement, as supplemented by Trust Supplement No. 2017-1AA, dated as of the Issuance Date, between the Company and
WTNA, as Class AA Trustee. 
 “Class AA Trustee” means the trustee for the Class AA Pass
Through Trust. 
 “Class B Certificates” means Pass Through Certificates issued by the Class B Pass
Through Trust. 
 “Class B Liquidity Facility” has the meaning set forth in the Intercreditor Agreement.

 “Class B Liquidity Provider” has the meaning set forth in the Intercreditor Agreement. 

“Class B Pass Through Trust” means the Spirit Airlines Pass Through Trust
2017-1B created pursuant to the Basic Pass Through Trust Agreement, as supplemented by Trust Supplement No. 2017-1B, dated as of the Issuance Date, between the Company
and WTNA, as Class B Trustee. 
 “Class B Trustee” means the trustee for the Class B Pass
Through Trust. 
 “Closing” has the meaning specified in Section 2.03 of the Participation Agreement. 

“Closing Date” means the date of the closing of the transaction contemplated by the Operative Documents. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Collateral” has the meaning specified in the granting clause of the Indenture. 

“Company” means Spirit Airlines, Inc., and its successors and permitted assigns. 

  

					
		  	4	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Compulsory Acquisition” means requisition of title or other compulsory
acquisition, capture, seizure, deprivation, confiscation or detention for any reason of the Aircraft, the Airframe or any Engine by any government that results in the loss of title or use of the Aircraft, the Airframe or any Engine by the Company
(or any Permitted Lessee) for a period in excess of 180 consecutive days, but shall exclude requisition for use or hire not involving requisition of title. 

“Confidential Information” has the meaning specified in Section 10.16 of the Indenture. 

“Controlling Party” has the meaning specified in Section 2.06 of the Intercreditor Agreement. 

“Corporate Trust Office” has the meaning specified in Section 1.01 of the Intercreditor Agreement. 

“CRAF Program” means the Civil Reserve Air Fleet Program authorized under 10 U.S.C. Section 9511 et seq. or any similar
or substitute program under the laws of the United States. 
 “Debt Rate” means (i) with respect to any Series
of Equipment Notes, the rate per annum specified for the applicable Series as such in Schedule I to the Indenture (as amended, in the case of any Additional Series, new Series A Equipment Notes, new Series B Equipment Notes or new Additional Series
issued pursuant to Section 2.02 of the Indenture, at the time of issuance of such Series), and (ii) for any other purpose, with respect to any period, the weighted average interest rate per annum during such period borne by the
outstanding Equipment Notes, excluding in each case any interest payable at the Past Due Rate. 
 “Defaulted Operative
Indenture” means any Operative Indenture (the terms “Event of Default”, “Equipment Notes” and “Payment Default” used in this definition have the meanings specified therefor in such Operative Indenture) with
respect to which (i) a Payment Default has occurred and is continuing or an Event of Default described in Section 4.01(a) of such Operative Indenture has occurred and is continuing or (ii) an Event of Default other than
an Event of Default described in Section 4.01(a) of such Operative Indenture has occurred and is continuing and, in any such case, either (x) the Equipment Notes issued thereunder have been accelerated and such acceleration has not
been rescinded and annulled in accordance therewith or (y) the loan trustee under such Operative Indenture has given the Company a notice of its intention to exercise one or more of the remedies specified in Section 4.02(a) of such
Operative Indenture; provided that in the event of a bankruptcy proceeding under the Bankruptcy Code under which the Company is a debtor, if and so long as the trustee or the debtor agrees to perform and performs all obligations of the
Company under such Operative Indenture and the Equipment Notes issued thereunder in accordance with Section 1110(a)(2) of the Bankruptcy Code and cures defaults under such Operative Indentures and Equipment Notes to the extent required by
Section 1110(a)(2) of the Bankruptcy Code, such Operative Indenture shall not be a Defaulted Operative Indenture. 

“Department of Transportation” means the United States Department of Transportation and any agency or instrumentality of the
United States government succeeding to its functions. 

  

					
		  	5	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Deposit Agreement” means, subject to Section 5(f) of the Note Purchase
Agreement, each of the three Deposit Agreements, dated as of the Issuance Date, between the Escrow Agent and the Depositary, which relate to the Class AA Pass Through Trust, Class A Pass Through Trust or the Class B Pass Through
Trust, respectively; provided that, for purposes of any obligation of the Company, no amendment, modification or supplement to, or substitution or replacement of, any such Deposit Agreement shall be effective unless consented to by the
Company. 
 “Depositary” means, subject to Section 5(f) of the Note Purchase Agreement, Citibank, N.A., as Depositary
under each Deposit Agreement. 
 “Direction” has the meaning specified in Section 2.16 of the Indenture. 

“Dollars” and “$” mean the lawful currency of the United States. 

“Eligible Account” means an account established by and with an Eligible Institution at the request of the Loan Trustee, which
institution agrees, for all purposes of the NY UCC including Article 8 thereof, that (a) such account shall be a “securities account” (as defined in Section 8-501(a) of the NY UCC),
(b) such institution is a “securities intermediary” (as defined in Section 8-102(a)(14) of the NY UCC), (c) all property (other than cash) credited to such account shall be treated
as a “financial asset” (as defined in Section 8-102(a)(9) of the NY UCC), (d) the Loan Trustee shall be the “entitlement holder” (as defined in
Section 8-102(a)(7) of the NY UCC) in respect of such account, (e) it will comply with all entitlement orders issued by the Loan Trustee to the exclusion of the Company, (f) it
will waive or subordinate in favor of the Loan Trustee all claims (including, without limitation, claims by way of security interest, lien or right of set-off or right of recoupment), and (g) the
“securities intermediary jurisdiction” (under Section 8-110(e) of the NY UCC) shall be the State of New York. 

“Eligible Institution” means the corporate trust department of (a) WTNA or any other Person that becomes a
successor Loan Trustee under the Indenture, in each case, acting solely in its capacity as a “securities intermediary” (as defined in Section 8-102(a)(14) of the NY UCC), or (b) a
depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any U.S. branch of a foreign bank), which has a Long-Term Rating (or, if a Long-Term Rating is not
available, its Short-Term Rating equivalent) from either Fitch or S&P of at least A-. 

“Engine” means (a) each of the two [Engine Manufacturer and Model] engines (generic manufacturer and model
[Generic Manufacturer and Model]) listed by manufacturer’s serial number and further described on Annex A to the Indenture Supplement originally executed and delivered under the Indenture, whether or not from time to time installed on the
Airframe or installed on any other airframe or on any other aircraft and (b) any Replacement Engine substituted for an Engine pursuant to Section 7.04 or 7.05 of the Indenture; together in each case with any and all related Parts
but excluding Excluded Equipment. At such time as a Replacement Engine is so substituted and the Engine for which substitution is made is released 

  

					
		  	6	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 
from the Lien of the Indenture, such replaced Engine shall cease to be an Engine under the Indenture. 

“Equipment Note” means and includes any equipment notes issued under the Indenture in the form specified in Section 2.01
thereof (as such form may be varied pursuant to the terms of the Indenture) and any Equipment Note issued in exchange therefor or replacement thereof pursuant to Section 2.07 or 2.08 of the Indenture. 

“Equipment Note Register” has the meaning specified in Section 2.07 of the Indenture. 

“Equipment Note Registrar” has the meaning specified in Section 2.07 of the Indenture. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations
promulgated and rulings issued thereunder. Section references to ERISA are to ERISA as in effect at the date of the Participation Agreement and any subsequent provisions of ERISA amendatory thereof, supplemental thereto or substituted therefor. 

“Escrow Agent” means Wilmington Trust Company, a Delaware trust company, as escrow agent under each Escrow Agreement, or any
successor agent thereto. 
 “Escrow Agreement” means each of the three Escrow and Paying Agent Agreements, dated as of the
Issuance Date, among the Escrow Agent, the Paying Agent, the Underwriters and the applicable Pass Through Trustee, which relate to the Class AA Pass Through Trust, the Class A Pass Through Trust or the Class B Pass Through Trust,
respectively; provided that, for purposes of any obligation of the Company, no amendment, modification or supplement to, or substitution or replacement of, any such Escrow Agreement shall be effective unless consented to by the Company. 

“Event of Default” has the meaning specified in Section 4.01 of the Indenture. 

“Event of Loss” means, with respect to the Aircraft, Airframe or any Engine, any of the following events with respect to such
property: 
 (a) the loss of such property or of the use thereof due to destruction, damage beyond repair or rendition of such property
permanently unfit for normal use for any reason whatsoever; 
 (b) any damage to such property which results in an insurance settlement with
respect to such property on the basis of a total loss, a compromised total loss or a constructive total loss; 
 (c) the theft, hijacking or
disappearance of such property for a period in excess of 180 consecutive days; 
 (d) the requisition for use or hire of such property by any
government (other than a requisition for use or hire by a Government or the government of the country of registry of the 

  

					
		  	7	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 
Aircraft) that results in the loss of possession of such property by the Company (or any Permitted Lessee) for a period in excess of 12 consecutive months; 

(e) the operation or location of the Aircraft, while under requisition for use by any government, in any area excluded from coverage by any
insurance policy in effect with respect to the Aircraft required by the terms of Section 7.06 of the Indenture, unless the Company shall have obtained indemnity or insurance in lieu thereof from such government; 

(f) any Compulsory Acquisition; 

(g) as a result of any law, rule, regulation, order or other action by the FAA or other government of the country of registry, the use of the
Aircraft or Airframe in the normal business of air transportation is prohibited by virtue of a condition affecting all aircraft of the same type for a period of 18 consecutive months, unless the Company is diligently carrying forward all steps that
are necessary or desirable to permit the normal use of the Aircraft or Airframe or, in any event, if such use is prohibited for a period of three consecutive years; and 

(h) with respect to an Engine only, any divestiture of title to or interest in an Engine or any event with respect to an Engine that is deemed
to be an Event of Loss with respect to such Engine pursuant to Section 7.02(a)(vii) of the Indenture. 
 An Event of Loss with respect
to the Aircraft shall be deemed to have occurred if an Event of Loss occurs with respect to the Airframe unless the Company elects to substitute a Replacement Airframe pursuant to Section 7.05(a)(i) of the Indenture. 

“Excluded Equipment” means (i) defibrillators, enhanced emergency medical kits and other medical equipment,
(ii) airphones and other components or systems installed on or affixed to the Airframe that are used to provide individual telecommunications or electronic entertainment to passengers aboard the Aircraft, (iii) galley carts,
beverage carts, waste containers, liquor kits, food tray carriers, ice containers, oven inserts, galley inserts, and other branded passenger convenience or service items, (iv) any items, equipment or systems leased by the Company or any
Permitted Lessee (other than items, equipment, or systems that are leased from the Company pursuant to the applicable Lease) or owned by the Company or any Permitted Lessee subject to a conditional sales agreement or a security interest (other than
the security interest granted under the Indenture), and (v) cargo containers. 
 “FAA” means the United States
Federal Aviation Administration and any agency or instrumentality of the United States government succeeding to its functions. 

“FAA Bill of Sale” means the bill of sale for the Aircraft on AC Form 8050-2 executed
by Manufacturer or an affiliate of Manufacturer in favor of the Company and recorded with the FAA. 
 “Federal Funds Rate”
means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System
arranged by 

  

					
		  	8	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 
Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding 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 of the quotations for such day for such transactions received by WTNA from three Federal funds brokers of recognized standing selected by it. 

“Fitch” means Fitch Ratings, Inc. 

“Government” means the government of any of Canada, France, Germany, Japan, The Netherlands, Sweden, Switzerland, the United
Kingdom or the United States and any instrumentality or agency thereof. 
 “Indemnitee” has the meaning specified in
Section 4.02(b) of the Participation Agreement. 
 “Indenture” means that certain Indenture and Security Agreement
([REG. NO.]), dated as of the Closing Date, between the Company and the Loan Trustee, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms, including supplementation by an Indenture Supplement
pursuant to the Indenture. 
 “Indenture Indemnitee” means (i) the Loan Trustee, (ii) WTNA,
(iii) each separate or successor or additional trustee appointed pursuant to Section 8.02 of the Indenture, (iv) so long as it holds any Equipment Notes as agent and trustee of any Pass Through Trustee, the Subordination
Agent, (v) each Liquidity Provider, (vi) so long as it is the holder of any Equipment Notes, each Pass Through Trustee, (vii) the Paying Agent, (viii) the Escrow Agent, and (ix) any of
their respective successors and permitted assigns in such capacities, directors, officers, employees, agents and servants. No holder of a Pass Through Certificate in its capacity as such shall be an Indenture Indemnitee. 

“Indenture Supplement” means a supplement to the Indenture, substantially in the form of Exhibit A to the Indenture, which
particularly describes the Aircraft, and any Substitute Airframe, Replacement Airframe and/or Replacement Engine, included in the property subject to the Lien of the Indenture. 

“Intercreditor Agreement” means that certain Intercreditor Agreement, dated as of the Issuance Date, among the Pass Through
Trustees, the Liquidity Providers and the Subordination Agent, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms; provided that, for purposes of any obligations of the Company, no
amendment, modification or supplement to, or substitution or replacement of, such Intercreditor Agreement shall be effective unless consented to by the Company. 

“Interests” has the meaning specified in Section 7.06(a) of the Indenture. 

“International Interest” has the meaning ascribed to the defined term “international interest” under the Cape Town
Treaty. 

  

					
		  	9	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “International Registry” means the international registry established pursuant
to the Cape Town Treaty. 
 “Issuance Date” means November 28, 2017. 

“Lease” means any lease permitted by the terms of Section 7.02(a) of the Indenture. 

“Lien” means any mortgage, pledge, lien, encumbrance, lease, sublease, sub-sublease
or security interest. 
 “Liquidity Facilities” means, collectively, the Class AA Liquidity Facility, the Class A
Liquidity Facility and the Class B Liquidity Facility. 
 “Liquidity Providers” means, collectively, the Class AA
Liquidity Provider, the Class A Liquidity Provider and the Class B Liquidity Provider. 
 “Loan Amount” has the
meaning specified in Section 7.06(b) of the Indenture. 
 “Loan Trustee” has the meaning specified in the introductory
paragraph of the Indenture. 
 “Loan Trustee Liens” means any Lien attributable to WTNA or the Loan Trustee with respect to
the Aircraft, any interest therein or any other portion of the Collateral arising as a result of (i) claims against WTNA or the Loan Trustee not related to its interest in the Aircraft or the administration of the Collateral pursuant to
the Indenture, (ii) acts of WTNA or the Loan Trustee not permitted by, or the failure of WTNA or the Loan Trustee to take any action required by, the Operative Documents or the Pass Through Documents, (iii) claims against
WTNA or the Loan Trustee relating to Taxes or Claims that are excluded from the indemnification provided by Section 4.02 of the Participation Agreement pursuant to said Section 4.02 or (iv) claims against WTNA or the Loan
Trustee arising out of the transfer by any such party of all or any portion of its interest in the Aircraft, the Collateral, the Operative Documents or the Pass Through Documents, except while an Event of Default is continuing and prior to the time
that the Loan Trustee has received all amounts due to it pursuant to the Indenture. 
 “Long-Term Rating” has the meaning
specified in the Intercreditor Agreement. 
 “Loss Payment Date” has the meaning specified in Section 7.05(a) of the
Indenture. 
 “Majority in Interest of Noteholders” means, as of a particular date of determination and subject to
Section 2.16 of the Indenture, the holders of at least a majority in aggregate unpaid principal amount of all Equipment Notes outstanding as of such date (excluding any Equipment Notes held by the Company or any Affiliate thereof, it being
understood that a Pass Through Trustee shall be considered an Affiliate of the Company as long as more than 50% in the aggregate face amount of Pass Through Certificates issued by the corresponding Pass Through Trust are held and able to be voted by
the Company or an Affiliate of the Company or a Pass Through Trustee is otherwise under the control of the Company or such Affiliate of the Company (unless all Equipment Notes then outstanding are held by the Company or any

  

					
		  	10	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 
Affiliate thereof, including the Pass Through Trustees which are considered Affiliates of the Company pursuant hereto); provided that for the purposes of directing any action or casting
any vote or giving any consent, waiver or instruction hereunder, any Noteholder of an Equipment Note or Equipment Notes may allocate, in such Noteholder’s sole discretion, any fractional portion of the principal amount of such Equipment Note or
Equipment Notes in favor of or in opposition to any such action, vote, consent, waiver or instruction. 
 “Make-Whole
Amount” means, with respect to any Equipment Note, the amount (as determined by an independent investment banker selected by the Company (and, following the occurrence and during the continuance of an Event of Default, reasonably acceptable
to the Loan Trustee)), if any, by which (i) the present value of the remaining scheduled payments of principal and interest from the redemption date to maturity of such Equipment Note computed by discounting each such payment on a
semiannual basis from its respective Payment Date (assuming a 360-day year of twelve 30 day months) using a discount rate equal to the Treasury Yield plus the Make-Whole Spread exceeds (ii) the
outstanding principal amount of such Equipment Note plus accrued but unpaid interest thereon to the date of redemption. For purposes of determining the Make-Whole Amount, “Treasury Yield” means, at the date of determination, the
interest rate (expressed as a semiannual equivalent and as a decimal rounded to the number of decimal places as appears in the Debt Rate of such Equipment Note and, in the case of United States Treasury bills, converted to a bond equivalent yield)
determined to be the per annum rate equal to the semiannual yield to maturity for United States Treasury securities maturing on the Average Life Date and trading in the public securities market either as determined by interpolation between the most
recent weekly average constant maturity, non-inflation-indexed series yield to maturity for two series of United States Treasury securities, trading in the public securities markets, (A) one
maturing as close as possible to, but earlier than, the Average Life Date and (B) the other maturing as close as possible to, but later than, the Average Life Date, in each case as reported in the most recent H.15(519) or, if a weekly
average constant maturity, non-inflation indexed series yield to maturity for United States Treasury securities maturing on the Average Life Date is reported in the most recent H.15(519), such weekly average
yield to maturity as reported in such H.15(519). “H.15(519)” means the weekly statistical release designated as such, or any successor publication, published by the Board of Governors of the Federal Reserve System. The date of
determination of a Make-Whole Amount shall be the third Business Day prior to the applicable redemption date and the “most recent H.15(519)” means the latest H.15(519) published prior to the close of business on the third Business
Day prior to the applicable redemption date. “Average Life Date” means, for each Equipment Note to be redeemed, the date which follows the redemption date by a period equal to the Remaining Weighted Average Life at the redemption
date of such Equipment Note. “Remaining Weighted Average Life” of an Equipment Note, at the redemption date of such Equipment Note, means the number of days equal to the quotient obtained by dividing: (i) the sum of the
products obtained by multiplying (A) the amount of each then remaining installment of principal, including the payment due on the maturity date of such Equipment Note, by (B) the number of days from and including the
redemption date to but excluding the scheduled Payment Date of such principal installment by (ii) the then unpaid principal amount of such Equipment Note. 

  

					
		  	11	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Make-Whole Spread” means, with respect to any Series of Equipment Notes, the
percentage specified for the applicable Series as such in Schedule I to the Indenture (as amended, in the case of any Additional Series, new Series A Equipment Notes, new Series B Equipment Notes or new Additional Series issued pursuant to
Section 2.02 of the Indenture, at the time of issuance of such Series). 
 “Manufacturer” means, as the context may
require, Airbus S.A.S., a société par actions simplifiée organized and existing under the laws of the Republic of France, or Airbus Americas, Inc., a Delaware corporation and, in each case, its successors and assigns.

 “MCMV” has the meaning specified in Section 7.04(e) of the Indenture. 

“Noteholder” means any Person in whose name an Equipment Note is registered on the Equipment Note Register (including, for so
long as it is the registered holder of any Equipment Notes, the Subordination Agent on behalf of the Pass Through Trustees pursuant to the provisions of the Intercreditor Agreement). 

“Noteholder Liens” means any Lien attributable to any Noteholder on or against the Aircraft, any interest therein or any
other portion of the Collateral, arising out of any claim against such Noteholder that is not related to the Operative Documents or Pass Through Documents, or out of any act or omission of such Noteholder that is not related to the transactions
contemplated by, or that constitutes a breach by such Noteholder of its obligations under, the Operative Documents or the Pass Through Documents. 

“Note Purchase Agreement” means the Note Purchase Agreement, dated as of the Issuance Date, among the Company, the
Subordination Agent, the Escrow Agent, the Paying Agent and the Pass Through Trustees providing for, among other things, the issuance and sale of certain equipment notes, as the same may be amended, supplemented or otherwise modified from time to
time in accordance with its terms. 
 “NY UCC” means UCC as in effect in the State of New York. 

“Operative Documents” means, collectively, the Participation Agreement, the Indenture, each Indenture Supplement, the
Airframe Warranties Agreement and the Equipment Notes. 
 “Operative Indentures” means, as of any date, each
“Indenture” (as such term is defined in the Note Purchase Agreement), including the Indenture, whether or not any other “Indenture” shall have been entered into before or after the date of the Indenture, but only if as of such
date all “Equipment Notes” (as defined in each such “Indenture”) are held by the “Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in each such “Indenture”. 

“Other Party Liens” means any Lien attributable to any Pass Through Trustee (other than in its capacity as Noteholder), the
Subordination Agent (other than in its capacity as Noteholder) or any Liquidity Provider on or against the Aircraft, any interest therein, or any other portion of the Collateral arising out of any claim against such party that is not related to the
Operative Documents or Pass Through Documents, or out of any act or omission of such party that is not 

  

					
		  	12	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 
related to the transactions contemplated by, or that constitutes a breach by such party of its obligations under, the Operative Documents or the Pass Through Documents. 

“Participation Agreement” has the meaning set forth under the definition of “Agreement”. 

“Parts” means any and all appliances, parts, instruments, appurtenances, accessories, furnishings and other equipment of
whatever nature (other than (a) complete Engines or engines and (b) Excluded Equipment), so long as the same are incorporated or installed in or attached to the Airframe or any Engine or so long as the same are subject to the
Lien of the Indenture in accordance with the terms of Section 7.04 thereof after removal from the Airframe or any Engine. 

“Pass Through Certificates” means the pass through certificates issued by any Pass Through Trust (and any other pass through
certificates for which such pass through certificates may be exchanged). 
 “Pass Through Documents” means each Pass
Through Trust Agreement, the Note Purchase Agreement, each Escrow Agreement, each Deposit Agreement, the Intercreditor Agreement and each Liquidity Facility. 

“Pass Through Trust” means each of the three separate grantor trusts that have been created pursuant to the Pass Through
Trust Agreements to facilitate certain of the transactions contemplated by the Operative Documents. 
 “Pass Through Trust
Agreement” means each of the three separate Trust Supplements relating to the Pass Through Trusts, together in each case with the Basic Pass Through Trust Agreement, as the same may be amended, supplemented or otherwise modified from time
to time in accordance with its terms. 
 “Pass Through Trustee” means the trustee under each Pass Through Trust Agreement,
together with any successor in interest and any successor or other trustee appointed as provided in such Pass Through Trust Agreement. 

“Past Due Rate” means the lesser of (a) with respect to (i) any payment made to a Noteholder under
any Series of Equipment Notes, the Debt Rate then applicable to such Series plus 1% and (ii) any other payment made under any Operative Document to any other Person, the Debt Rate plus 1% (computed on the basis of a year of 360 days
comprised of twelve 30-day months) and (b) the maximum rate permitted by applicable law. 

“Paying Agent” means WTNA, as paying agent under each Escrow Agreement, and any successor agent thereto. 

  

					
		  	13	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Payment Date” means, for any Equipment Note, each February 15 and
August 15, [commencing with August 15, 2018]24[commencing with February 15, 2019].25 

“Payment Default” means the occurrence of an event that would give rise to an Event of Default under Section 4.01(a) of
the Indenture upon the giving of notice or the passing of time or both. 
 “Permitted Investments” means each of
(a) direct obligations of the United States and agencies thereof; (b) obligations fully guaranteed by the United States; (c) certificates of deposit issued by, or bankers’ acceptances of, or time deposits
with, any bank, trust company or national banking association incorporated or doing business under the laws of the United States or one of the states thereof having combined capital and surplus and retained earnings of at least $100,000,000 and
having a Long-Term Rating of A, its equivalent or better issued by S&P and, if available, Fitch (or, if neither such organization then rates such institutions, by any nationally recognized rating organization in the United States); (d)
commercial paper of any holding company of a bank, trust company or national banking association described in clause (c); (e) commercial paper of companies having a Short-Term Rating assigned to such commercial paper by S&P and, if
available, Fitch (or, if neither such organization then rates such commercial paper, by any nationally recognized rating organization in the United States) equal to either of the two highest ratings assigned by such organization;
(f) Dollar-denominated certificates of deposit issued by, or time deposits with, the European subsidiaries of (i) any bank, trust company or national banking association described in clause (c), or (ii) any other
bank or financial institution described in clause (g), (h) or (j) below; (g) United States-issued Yankee certificates of deposit issued by, or bankers’ acceptances of, or commercial paper issued by, any bank having combined capital
and surplus and retained earnings of at least $100,000,000 and headquartered in Canada, Japan, the United Kingdom, France, Germany, Switzerland or The Netherlands and having a Long-Term Rating of A, its equivalent or better issued by S&P and, if
available, Fitch (or, if neither such organization then rates such institutions, by any nationally recognized rating organization in the United States); (h) Dollar-denominated time deposits with any Canadian bank having a combined capital and
surplus and retained earnings of at least $100,000,000 and having a Long-Term Rating of A, its equivalent or better issued by S&P and, if available, Fitch (or, if neither such organization then rates such institutions, by any nationally
recognized rating organization in the United States); (i) Canadian Treasury Bills fully hedged to Dollars; (j) repurchase agreements with any financial institution having combined capital and surplus and retained earnings of at
least $100,000,000 collateralized by transfer of possession of any of the obligations described in clauses (a) through (i) above; (k) bonds, notes or other obligations of any state of the United States, or any political subdivision
of any state, or any agencies or other instrumentalities of any such state, including, but not limited to, industrial development bonds, pollution control revenue bonds, public power bonds, housing bonds, other revenue bonds or any general
obligation bonds, that, at the time of their purchase, such obligations have a Long-Term 
  

	24 	Insert for Equipment Notes issued before August 15, 2018. 

	25 	 Insert for Equipment Notes issued after August 15, 2018.

  

					
		  	14	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 
Rating of A, its equivalent or better issued by S&P and, if available, Fitch (or, if neither such organization then rates such obligations, by any nationally recognized rating organization in
the United States); (1) bonds or other debt instruments of any company, if such bonds or other debt instruments, at the time of their purchase, have a Long-Term Rating of A, its equivalent or better issued by S&P and, if available, Fitch
(or, if neither such organization then rates such obligations, by any nationally recognized rating organization in the United States); (m) mortgage backed securities (i) guaranteed by the Federal National Mortgage Association, the
Federal Home Loan Mortgage Corporation or the Government National Mortgage Association or having a Long-Term Rating of AAA, its equivalent or better issued by S&P and, if available, Fitch (or, if neither such organization then rates such
obligations, by any nationally recognized rating organization in the United States) or, if unrated, deemed to be of a comparable quality by the Loan Trustee and (ii) having an average life not to exceed one year as determined by standard
industry pricing practices presently in effect; (n) asset-backed securities having a Long-Term Rating of A, its equivalent or better issued by S&P and, if available, Fitch (or, if neither such organization then rates such
obligations, by any nationally recognized rating organization in the United States) or, if unrated, deemed to be of a comparable quality by the Loan Trustee; and (o) such other investments approved in writing by the Loan Trustee;
provided that the instruments described in the foregoing clauses shall have a maturity no later than the earlier of (i) 365 days following the date of such investments and (ii) the earliest date when such investments may be required for
distribution. The bank acting as Pass Through Trustee or Loan Trustee is hereby authorized, in making or disposing of any investment described herein, to deal with itself (in its individual capacity) or with any one or more of its affiliates,
whether it or such affiliate is acting as an agent of the Pass Through Trustee or the Loan Trustee or for any third person or dealing as principal for its own account. 

“Permitted Lessee” means any Person to whom the Company is permitted to lease the Airframe or any Engine pursuant to
Section 7.02(a) of the Indenture and is a party to a Lease. 
 “Permitted Lien” has the meaning specified in
Section 7.01 of the Indenture. 
 “Person” means any person, including any individual, corporation, limited liability
company, partnership, joint venture, association, joint-stock company, trust, trustee, unincorporated organization or government or any agency or political subdivision thereof. 

“Prospective International Interest” has the meaning ascribed to the defined term “prospective international
interest” under the Cape Town Treaty. 
 “Purchase Agreement” means the A320 Family Purchase Agreement, dated as of
May 5, 2004, between the Company and the Manufacturer, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms. 

“Rating Agencies” has the meaning specified in the Intercreditor Agreement. 

“Related Additional Series Equipment Note” means, with respect to any particular Series of Additional Series Equipment Notes
and as of any date, an “Additional Series Equipment Note”, as defined in each Related Indenture, having the same designation (i.e., “Series C”, 

  

					
		  	15	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 
“Series D” or the like) as such Series of Additional Series Equipment Notes, but only if as of such date it is held by the “Subordination Agent” under the “Intercreditor
Agreement”, as such terms are defined in such Related Indenture. 
 “Related Equipment Note” means, as of any date, an
“Equipment Note” as defined in each Related Indenture, but only if as of such date it is held by the “Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture. 

“Related Indemnitee Group” has the meaning specified in Section 4.02(b) of the Participation Agreement. 

“Related Indenture” means each Operative Indenture (other than the Indenture). 

“Related Indenture Bankruptcy Default” means any “Event of Default” under Section 4.01(f), (g), (h) or
(i) of any Related Indenture, determined without giving effect to any applicable grace period. 
 “Related Indenture Event of
Default” means any “Event of Default” under any Related Indenture. 
 “Related Indenture Indemnitee”
means each Related Noteholder. 
 “Related Loan Trustee” means the “Loan Trustee” as defined in each Related
Indenture. 
 “Related Make-Whole Amount” means the “Make-Whole Amount”, as defined in each Related Indenture.

 “Related Noteholder” means a registered holder of a Related Equipment Note. 

“Related Secured Obligations” means, as of any date, the outstanding principal amount of the Related Equipment Notes issued
under each Related Indenture, the accrued and unpaid interest (including, to the extent permitted by applicable law, post-petition interest and interest on any overdue amounts) due thereon in accordance with such Related Indenture as of such date,
the Related Make-Whole Amount, if any, with respect thereto due thereon in accordance with such Related Indenture as of such date, and any other amounts payable as of such date under the “Operative Documents” (as defined in each Related
Indenture). 
 “Related Series A Equipment Note” means, as of any date, a “Series A Equipment Note”, as defined
in each Related Indenture, but only if as of such date it is held by the “Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture. 

“Related Series AA Equipment Note” means, as of any date, a “Series AA Equipment Note”, as defined in each Related
Indenture, but only if as of such date it is held by the “Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture. 

  

					
		  	16	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Related Series B Equipment Note” means, as of any date, a “Series B
Equipment Note”, as defined in each Related Indenture, but only if as of such date it is held by the “Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture. 

“Replacement Aircraft” means the Aircraft of which a Replacement Airframe is part. 

“Replacement Airframe” means an Airbus [A320-200]26[A321-200]27 aircraft or a comparable or improved model of Manufacturer (except (a) Engines or
engines from time to time installed thereon and any and all Parts related to such Engine or engines and (b) Excluded Equipment), that shall have been made subject to the Lien of the Indenture pursuant to Section 7.05 thereof,
together with all Parts relating to such aircraft. 
 “Replacement Engine” means a [Engine Manufacturer and Model] engine
(or an engine of the same or another manufacturer of a comparable or an improved model and suitable for installation and use on the Airframe with the other Engine (or any other Replacement Engine being substituted simultaneously therewith)) that is
made subject to the Lien of the Indenture pursuant to Section 7.04 or Section 7.05 thereof, together with all Parts relating to such engine. 

“Replacement Liquidity Facility” has the meaning set forth in the Intercreditor Agreement. 

“Replacement Liquidity Provider” has the meaning set forth in the Intercreditor Agreement. 

“Responsible Officer” means, with respect to the Company, its Chairman of the Board, its President, its Chief Operating
Officer, any Executive Vice President, any Senior Vice President, the Chief Financial Officer, any Vice President, the Treasurer, the Assistant Treasurer, the Controller or the Secretary. 

“S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC
business. 
 “Section 1110” means Section 1110 of the Bankruptcy Code. 

“Secured Obligations” has the meaning specified in Section 2.06 of the Indenture. 

“Securities Account” has the meaning specified in Section 3.07 of the Indenture. 

“Securities Act” means the Securities Act of 1933, as amended from time to time. 

 
  

 

	26 	To be inserted for an A320-200 aircraft. 

	27 	To be inserted for an A321-200 aircraft. 

  

					
		  	17	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 “Securities and Exchange Commission” means the United States Securities and
Exchange Commission and any agency or instrumentality of the United States government succeeding to its functions. 
 “Securities
Intermediary” has the meaning specified in Section 3.07 of the Indenture. 
 “Series” means any series of
Equipment Notes, including the Series AA Equipment Notes, Series A Equipment Notes, the Series B Equipment Notes or, if issued, any Additional Series Equipment Notes. 

“Series A” or “Series A Equipment Notes” means Equipment Notes issued and designated as “Series A
Equipment Notes” under the Indenture, in the original principal amount and maturities as specified in Schedule I to the Indenture under the heading “Series A Equipment Notes” and bearing interest at the Debt Rate for Series A
Equipment Notes specified in Schedule I to the Indenture. 
 “Series AA” or “Series AA Equipment Notes”
means Equipment Notes issued and designated as “Series AA Equipment Notes” under the Indenture, in the original principal amount and maturities as specified in Schedule I to the Indenture under the heading “Series AA Equipment
Notes” and bearing interest at the Debt Rate for Series AA Equipment Notes specified in Schedule I to the Indenture. 
 “Series
B” or “Series B Equipment Notes” means Equipment Notes issued and designated as “Series B Equipment Notes” under the Indenture, in the original principal amount and maturities as specified in Schedule I to the
Indenture under the heading “Series B Equipment Notes” and bearing interest at the Debt Rate for Series B Equipment Notes specified in Schedule I to the Indenture. 

“Short-Term Rating” has the meaning specified in the Intercreditor Agreement. 

“Similar Law” has the meaning specified in Section 4.02(d)(xi) of the Participation Agreement. 

“Specified Person” has the meaning specified in Section 7.06(a) of the Indenture. 

“Subordination Agent” has the meaning specified in the introductory paragraph of the Participation Agreement. 

“Substitute Airframe” means an Airbus [A320-200]28[A321-200]29aircraft or a comparable or improved model of Manufacturer (except (a) Engines or
engines from time to time installed thereon and any and all Parts related to such Engine or engines and (b) Excluded 
  

	28 	To be inserted for an A320-200 aircraft. 

	29 	 To be inserted for an A321-200 aircraft.

  

					
		  	18	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]

 
Equipment), that shall have been made subject to the Lien of the Indenture pursuant to Section 7.04 thereof, together with all Parts relating to such aircraft. 

“Tax” and “Taxes” mean all governmental fees (including, without limitation, license, filing and
registration fees) and all taxes (including, without limitation, franchise, excise, stamp, value added, income, gross receipts, sales, use and property taxes), withholdings, assessments, levies, imposts, duties or charges, of any nature whatsoever,
together with any related penalties, fines, additions to tax or interest thereon imposed, withheld, levied or assessed by any country, taxing authority or governmental subdivision thereof or therein or by any international authority, including any
taxes imposed on any Person as a result of such Person being required to collect and pay over withholding taxes. 
 “Transportation
Code” means that portion of Title 49 of the United States Code comprising those provisions formerly referred to as the Federal Aviation Act of 1958, as amended, or any subsequent legislation that amends, supplements or supersedes such
provisions. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended from time to time. 

“Trust Supplements” means those agreements supplemental to the Basic Pass Through Trust Agreement referred to in Schedule II
to the Participation Agreement. 
 “UCC” means the Uniform Commercial Code as in effect in any applicable jurisdiction.

 “Underwriter” means each of the underwriters identified as such in the Underwriting Agreement. 

“Underwriting Agreement” means that certain Underwriting Agreement, dated November 13, 2017, among the Company and
Morgan Stanley & Co. LLC and Citigroup Global Markets, Inc., as representatives of the Underwriters listed on Schedule I thereto, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms.

 “United States” means the United States of America. 

“Warranty Bill of Sale” means the warranty (as to title) bill of sale covering the Aircraft executed by Manufacturer or an
affiliate of Manufacturer in favor of the Company and specifically referring to each Engine, as well as the Airframe, constituting a part of the Aircraft. 

“WTNA” has the meaning specified in the introductory paragraph of the Participation Agreement. 

  

					
		  	19	  	 Indenture and Security Agreement (Spirit 2017-1 EETC)

[Reg. No.]EX-10.1

 Exhibit 10.1 
  

 
  

ELEVENTH AMENDMENT TO 

AMENDED AND RESTATED CREDIT AGREEMENT 

Dated as of November 21, 2017 

among 
 GULFPORT ENERGY
CORPORATION, 
 as Borrower, 

THE BANK OF NOVA SCOTIA, 

as Administrative Agent 
 and 

The Lenders Party Hereto 
 THE
BANK OF NOVA SCOTIA, KEYBANK NATIONAL ASSOCIATION, 
 and PNC BANK, NATIONAL ASSOCIATION, 

as Joint Lead Arrangers and Joint Bookrunners 

KEYBANK NATIONAL ASSOCIATION and 

PNC BANK, NATIONAL ASSOCIATION, 

as Co-Syndication Agents 

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 

WELLS FARGO BANK, N.A. and 

BARCLAYS BANK PLC, 
 as Co-Documentation Agents 
  
  

 

 ELEVENTH AMENDMENT TO AMENDED 

AND RESTATED CREDIT AGREEMENT 

THIS ELEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is entered into as of
November 21, 2017, among GULFPORT ENERGY CORPORATION, a Delaware corporation (“Borrower”), THE BANK OF NOVA SCOTIA, as Administrative Agent (“Administrative Agent”) and L/C Issuer,
and the Lenders party hereto. 
 R E C I T A L S 

A.    Borrower, the financial institutions signing as Lenders thereto, Administrative Agent and the other agents party
thereto are parties to an Amended and Restated Credit Agreement dated as of December 27, 2013, as amended by a First Amendment to Amended and Restated Credit Agreement dated as of April 23, 2014, a Second Amendment to Amended and Restated
Credit Agreement dated as of November 26, 2014, a Third Amendment to Amended and Restated Credit Agreement dated as of April 10, 2015, a Fourth Amendment to Amended and Restated Credit Agreement and Limited Consent and Waiver dated as of
May 29, 2015, a Fifth Amendment to Amended and Restated Credit Agreement dated as of September 18, 2015, a Sixth Amendment to Amended and Restated Credit Agreement dated as of February 19, 2016, a Seventh Amendment to Amended and
Restated Credit Agreement dated as of December 13, 2016, an Eighth Amendment to Amended and Restated Credit Agreement dated as of March 29, 2017, a Ninth Amendment to Amended and Restated Credit Agreement dated as of May 4, 2017, and
a Tenth Amendment to Amended and Restated Credit Agreement dated as of October 4, 2017 (collectively, the “Original Credit Agreement”; the Original Credit Agreement as amended by this Amendment is referred to herein as
the “Credit Agreement”). 
 B.    The parties desire to amend the Original Credit Agreement as
hereinafter provided. 
 NOW, THEREFORE, in consideration of these premises and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1.    Same Terms.
All terms used herein that are defined in the Original Credit Agreement shall have the same meanings when used herein, unless the context hereof otherwise requires or provides. In addition, from and after the Effective Date, (i) all references
in the Original Credit Agreement and, where appropriate in the context, in the other Loan Documents to the “Agreement” shall mean the Original Credit Agreement, as amended and waived by this Amendment, as the same may
hereafter be amended and waived from time to time, and (ii) all references in the Loan Documents to the “Loan Documents” shall mean the Loan Documents, as amended and waived by the Modification Papers, as the same may hereafter be
amended and waived from time to time. In addition, the following terms have the meanings set forth below: 
 “Effective
Date” means the date on which the conditions specified in Section 2 below are satisfied (or waived in writing by the Administrative Agent). 

“Modification Papers” means this Amendment, and all of the other documents and agreements executed in connection with
the transactions contemplated by this Amendment. 

  
 ELEVENTH AMENDMENT – Page 1

 2.    Conditions Precedent. The obligations and agreements of
the Lenders as set forth in this Amendment are subject to the satisfaction, unless waived in writing by Administrative Agent, of each of the following conditions (and upon such satisfaction, this Amendment shall be deemed to be effective as of the
Effective Date): 
 (a)    Eleventh Amendment to Credit Agreement. This Amendment shall
have been duly executed and delivered by each of the parties hereto. 
 (b)    Fees and
Expenses. Administrative Agent shall have received payment of all invoiced out-of-pocket fees and expenses (including reasonable attorneys’ fees and
expenses) incurred by Administrative Agent in connection with the preparation, negotiation and execution of the Modification Papers. 

3.    Amendment to Original Credit Agreement. On the Effective Date, the Original Credit Agreement,
including Schedules 1.01, 2.01, 6.06, 6.09, 8.01, 8.03 and 11.02, Exhibit J and new Exhibits L and M, but excluding all other existing Schedules and Exhibits (which shall remain unchanged), shall be amended in its entirety to read as set forth on
the attached Annex I hereto. 
 4.    Certain Representations. Borrower represents and warrants
that, as of the Effective Date: (a) Borrower has full power and authority to execute the Modification Papers to which it is a party and such Modification Papers constitute the legal, valid and binding obligation of Borrower enforceable in
accordance with their terms, except as enforceability may be limited by general principles of equity and applicable bankruptcy, insolvency, reorganization, moratorium, and other similar laws affecting the enforcement of creditors’ rights
generally; (b) no authorization, approval, consent or other action by, notice to, or filing with, any Governmental Authority or other Person is required for the execution, delivery and performance by Borrower thereof; and (c) no Default
has occurred and is continuing or will result from the consummation of the transactions contemplated by this Amendment. In addition, Borrower represents that after giving effect to the Modification Papers, all representations and warranties
contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects (provided that any such representations or warranties that are, by their terms, already qualified by reference to materiality shall be true
and correct without regard to such additional materiality qualification) on and as of the Effective Date as if made on and as of such date except to the extent that any such representation or warranty expressly relates to an earlier date, in which
case such representation or warranty is true and correct in all material respects (or true and correct without regard to such additional materiality qualification, as applicable) as of such earlier date. 

5.    No Further Amendments. Except as previously amended or waived in writing or as amended or waived
hereby, the Original Credit Agreement shall remain unchanged and all provisions shall remain fully effective between the parties thereto. 

6.    Acknowledgments and Agreements. Borrower acknowledges that on the date hereof all outstanding
Obligations, in each case as amended and waived hereby, are payable in accordance with their terms, and Borrower waives any defense, offset, counterclaim or recoupment with respect thereto. Borrower, Administrative Agent, L/C Issuer and each Lender
that is a party hereto do hereby adopt, ratify and confirm the Original Credit Agreement, as amended and waived hereby, and acknowledge and agree that the Original Credit Agreement, as amended and waived hereby, is and remains in full force and
effect. Borrower acknowledges and agrees that its liabilities and obligations under the Original Credit Agreement and under the other Loan Documents, in each case as amended and waived hereby, are not impaired in any respect by this Amendment. 

7.    Limitation on Agreements. The consents, waivers and modifications set forth herein are limited
precisely as written and shall not be deemed (a) to be a consent under or a waiver of or an amendment to any other term or condition in the Original Credit Agreement or any of the other Loan 

  
 ELEVENTH AMENDMENT – Page 2

 
Documents, or (b) to prejudice any other right or rights that Administrative Agent or the Lenders now have or may have in the future under or in connection with the Original Credit Agreement
and the other Loan Documents, each as amended and waived hereby, or any of the other documents referred to herein or therein. The Modification Papers shall constitute Loan Documents for all purposes. 

8.    Confirmation of Security. Borrower hereby confirms and agrees that all of the Collateral Documents
that presently secure the Obligations shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Obligations as described in the Original Credit Agreement as modified by this Amendment.

 9.    Counterparts. This Amendment may be executed in any number of counterparts, each of which when
executed and delivered shall be deemed an original, but all of which constitute one instrument. In making proof of this Amendment, it shall not be necessary to produce or account for more than one counterpart thereof signed by each of the parties
hereto. 
 10.    Incorporation of Certain Provisions by Reference. The provisions of Section 11.15
of the Original Credit Agreement captioned “Governing Law, Jurisdiction; Etc.” and Section 11.16 of the Original Credit Agreement captioned “Waiver of Right to Trial by Jury” are incorporated herein by reference for all
purposes. 
 11.    Entirety, Etc. This Amendment, the other Modification Papers and all of the other Loan
Documents embody the entire agreement between the parties. THIS AMENDMENT, THE OTHER MODIFICATION PAPERS AND ALL OF THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
 [This space
is left intentionally blank. Signature pages follow.] 

  
 ELEVENTH AMENDMENT – Page 3

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

			
	BORROWER
	
	GULFPORT ENERGY CORPORATION
		
	By:	 	 /s/ Keri Crowell

		 	Keri Crowell
		 	Chief Financial Officer

  
 ELEVENTH AMENDMENT –
Signature Page S-1 

			
	ADMINISTRATIVE AGENT:
	
	THE BANK OF NOVA SCOTIA,
as Administrative Agent and L/C Issuer
		
	By:	 	 /s/ Alan Dawson

		 	Alan Dawson
		 	Director
	
	LENDERS:
	
	THE BANK OF NOVA SCOTIA,
as a Lender
		
	By:	 	 /s/ Alan Dawson

		 	Alan Dawson
		 	Director

  
 ELEVENTH AMENDMENT –
Signature Page S-2 

 
			
	KEYBANK NATIONAL ASSOCIATION,
as a Lender
		
	By:	 	 /s/ George E. McKean

	Name:	 	George E. McKean
	Title:	 	Senior Vice President

  
 ELEVENTH AMENDMENT –
Signature Page S-3 

 
			
	CREDIT SUISSE AG,
	Cayman Islands Branch,
as a Lender
		
	By:	 	 /s/ Nupur Kumar

	Name:	 	Nupur Kumar
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Andrew Griffin

	Name:	 	Andrew Griffin
	Title:	 	Authorized Signatory

  
 ELEVENTH AMENDMENT –
Signature Page S-4 

 
			
	BARCLAYS BANK PLC,
as a Lender
		
	By:	 	 /s/ Sydney G. Dennis

	Name:	 	Sydney G. Dennis
	Title:	 	Director

  
 ELEVENTH AMENDMENT –
Signature Page S-5 

 
			
	WELLS FARGO BANK, N.A.,
as a Lender
		
	By:	 	 /s/ Matthew W. Coleman

	Name:	 	Matthew W. Coleman
	Title:	 	Director

  
 ELEVENTH AMENDMENT –
Signature Page S-6 

			
	ZB, N.A. dba AMEGY BANK,
as a Lender
		
	By:	 	 /s/ Larry L. Sears

	Name:	 	Larry L. Sears
	Title:	 	SVP – Amegy Bank Division

  
 ELEVENTH AMENDMENT –
Signature Page S-7 

			
	COMPASS BANK,
as a Lender
		
	By:	 	 /s/ Gabriela Azcarate

	Name:	 	Gabriela Azcarate
	Title:	 	Vice President

  
 ELEVENTH AMENDMENT –
Signature Page S-8 

			
	PNC BANK, NATIONAL ASSOCIATION,
as a Lender
		
	By:	 	 /s/ Danielle Goodrick

	Name:	 	Danielle Goodrick
	Title:	 	Assistant Vice President

  
 ELEVENTH AMENDMENT –
Signature Page S-9 

			
	U.S. BANK NATIONAL ASSOCIATION,
as a Lender
		
	By:	 	 /s/ Nicholas T. Hanford

	Name:	 	Nicholas T. Hanford
	Title:	 	Vice President

  
 ELEVENTH AMENDMENT –
Signature Page S-10 

			
	 ASSOCIATED BANK, N.A.,
 as
a Lender

		
	By:	 	 /s/ Kyle Lewis

	Name:	 	Kyle Lewis
	Title:	 	Vice President

  
 ELEVENTH AMENDMENT –
Signature Page S-11 

 
			
	 IBERIABANK,
 as a
Lender

		
	By:	 	 /s/ Moni Collins

	Name:	 	Moni Collins
	Title:	 	Senior Vice President

  
 ELEVENTH AMENDMENT –
Signature Page S-12 

 
			
	MORGAN STANLEY SENIOR FUNDING, INC.,
as a Lender
		
	By:	 	 /s/ Pat Layton

	Name:	 	Pat Layton
	Title:	 	Vice President

  
 ELEVENTH AMENDMENT –
Signature Page S-13 

 
			
	BOKF, NA DBA BANK OF OKLAHOMA,
as a Lender
		
	By:	 	 /s/ John Krenger

	Name:	 	John Krenger
	Title:	 	Vice President

  
 ELEVENTH AMENDMENT –
Signature Page S-14 

 
			
	JPMORGAN CHASE BANK, N.A.,
as a Lender
		
	By:	 	 /s/ Arina Mavilian

	Name:	 	Arina Mavilian
	Title:	 	Authorized Signatory

  
 ELEVENTH AMENDMENT –
Signature Page S-15 

 
			
	COMMONWEALTH BANK OF AUSTRALIA,
as a Lender
		
	By:	 	 /s/ Sanjay Remond

	Name:	 	Sanjay Remond
	Title:	 	Director

  
 ELEVENTH AMENDMENT –
Signature Page S-16 

			
	ABN AMRO CAPITAL USA LLC,
as a Lender
		
	By:	 	 /s/ Darrell Holley

	Name:	 	Darrell Holley
	Title:	 	Managing Director
		
	By:	 	 /s/ Elizabeth Johnson

	Name:	 	Elizabeth Johnson
	Title:	 	Director

  
 ELEVENTH AMENDMENT –
Signature Page S-17 

			
	FIFTH THIRD BANK,
as a Lender
		
	By:	 	 /s/ Thomas Kleiderer

	Name:	 	Thomas Kleiderer
	Title:	 	Director

  
 ELEVENTH AMENDMENT –
Signature Page S-18 

			
	CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH,
as a Lender
		
	By:	 	 /s/ Richard Antl

	Name:	 	Richard Antl
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Donovan C. Broussard

	Name:	 	Donovan C. Broussard
	Title:	 	Authorized Signatory

  
 ELEVENTH AMENDMENT –
Signature Page S-19 

 ANNEX I 

TO ELEVENTH AMENDMENT TO 

AMENDED AND RESTATED CREDIT AGREEMENT 
  

 
  

AMENDED AND RESTATED CREDIT AGREEMENT 

Dated as of December 27, 2013 

among 
 GULFPORT ENERGY
CORPORATION, 
 as Borrower, 

THE BANK OF NOVA SCOTIA, 

as Administrative Agent 
 and 

The Lenders Party Hereto 
 THE
BANK OF NOVA SCOTIA, KEYBANK NATIONAL ASSOCIATION, 
 and PNC BANK, NATIONAL ASSOCIATION, 

as Joint Lead Arrangers and Joint Bookrunners 

KEYBANK NATIONAL ASSOCIATION and 

PNC BANK, NATIONAL ASSOCIATION, 

as Co-Syndication Agents 

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 

WELLS FARGO BANK, N.A. and 

BARCLAYS BANK PLC, 
 as Co-Documentation Agents 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	 
			
	 1.01.
	  	 Defined Terms
	  	 	1	 
	 1.02.
	  	 Other Interpretive Provisions
	  	 	26	 
	 1.03.
	  	 Accounting Terms
	  	 	26	 
	 1.04.
	  	 Rounding
	  	 	27	 
	 1.05.
	  	 Times of Day
	  	 	27	 
	 1.06.
	  	 Letter of Credit Amounts
	  	 	27	 
		
	 ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	27	 
			
	 2.01.
	  	 Loans
	  	 	27	 
	 2.02.
	  	 Borrowings, Conversions and Continuations of Loans
	  	 	27	 
	 2.03.
	  	 Letters of Credit
	  	 	30	 
	 2.04.
	  	 Prepayments
	  	 	36	 
	 2.05.
	  	 Termination or Reduction of Commitments; Increase and Reduction of Aggregate Elected Commitment
Amount
	  	 	37	 
	 2.06.
	  	 Repayment of Loans
	  	 	40	 
	 2.07.
	  	 Interest
	  	 	40	 
	 2.08.
	  	 Fees
	  	 	41	 
	 2.09.
	  	 Computation of Interest and Fees
	  	 	41	 
	 2.10.
	  	 Evidence of Debt
	  	 	42	 
	 2.11.
	  	 Payments Generally; Agent’s Clawback
	  	 	42	 
	 2.12.
	  	 Sharing of Payments
	  	 	44	 
	 2.13.
	  	 Collateral
	  	 	44	 
	 2.14.
	  	 Cash Collateral
	  	 	46	 
	 2.15.
	  	 Defaulting Lenders
	  	 	47	 
		
	 ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	49	 
			
	 3.01.
	  	 Taxes
	  	 	49	 
	 3.02.
	  	 Illegality
	  	 	52	 
	 3.03.
	  	 Inability to Determine Rates
	  	 	52	 
	 3.04.
	  	 Increased Costs
	  	 	53	 
	 3.05.
	  	 Compensation for Losses
	  	 	54	 
	 3.06.
	  	 Mitigation Obligations; Replacement of Lenders
	  	 	54	 
	 3.07.
	  	 Survival
	  	 	55	 
		
	 ARTICLE IV. BORROWING BASE
	  	 	55	 
			
	 4.01.
	  	 Borrowing Base
	  	 	55	 
	 4.02.
	  	 Periodic Determinations of Borrowing Base
	  	 	55	 
	 4.03.
	  	 Special Determinations of Borrowing Base
	  	 	56	 
	 4.04.
	  	 General Procedures With Respect to Determination of Borrowing Base
	  	 	56	 
	 4.05.
	  	 Borrowing Base Reductions
	  	 	57	 
	 4.06.
	  	 Borrowing Base Deficiency
	  	 	58	 
	 4.07.
	  	 [Intentionally Omitted]
	  	 	59	 
	 4.08.
	  	 Mortgage of Additional Properties
	  	 	59	 

  
 i 

							
	 ARTICLE V. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	 	59	 
			
	 5.01.
	  	 Conditions of Initial Credit Extension
	  	 	59	 
	 5.02.
	  	 Conditions to all Credit Extensions
	  	 	61	 
		
	 ARTICLE VI. REPRESENTATIONS AND WARRANTIES
	  	 	61	 
			
	 6.01.
	  	 Existence, Qualification and Power; Compliance with Laws
	  	 	61	 
	 6.02.
	  	 Authorization; No Contravention
	  	 	61	 
	 6.03.
	  	 Governmental Authorization; Other Consents
	  	 	62	 
	 6.04.
	  	 Binding Effect
	  	 	62	 
	 6.05.
	  	 Financial Statements; No Material Adverse Effect
	  	 	62	 
	 6.06.
	  	 Litigation
	  	 	63	 
	 6.07.
	  	 No Default
	  	 	63	 
	 6.08.
	  	 Ownership of Property; Liens
	  	 	63	 
	 6.09.
	  	 Environmental Compliance
	  	 	63	 
	 6.10.
	  	 Insurance
	  	 	63	 
	 6.11.
	  	 Taxes
	  	 	63	 
	 6.12.
	  	 ERISA Compliance
	  	 	63	 
	 6.13.
	  	 Subsidiaries
	  	 	64	 
	 6.14.
	  	 Margin Regulations; Investment Company Act
	  	 	64	 
	 6.15.
	  	 Disclosure
	  	 	64	 
	 6.16.
	  	 Compliance with Laws
	  	 	65	 
	 6.17.
	  	 Intellectual Property; Licenses, Etc
	  	 	65	 
	 6.18.
	  	 Rights in Collateral; Priority of Liens
	  	 	65	 
	 6.19.
	  	 Concerning the Collateral
	  	 	65	 
	 6.20.
	  	 Swap Contracts
	  	 	65	 
	 6.21.
	  	 Engineering Reports
	  	 	65	 
	 6.22.
	  	 Gas Balancing Agreements and Advance Payment Contracts
	  	 	66	 
	 6.23.
	  	 Warranties and Collateral Documents
	  	 	66	 
	 6.24.
	  	 Tax Shelter Regulations
	  	 	66	 
	 6.25.
	  	 Anti-Corruption Laws and Sanctions
	  	 	66	 
	 6.26.
	  	 Solvency
	  	 	66	 
		
	 ARTICLE VII. AFFIRMATIVE COVENANTS
	  	 	66	 
			
	 7.01.
	  	 Financial Statements
	  	 	66	 
	 7.02.
	  	 Certificates; Other Information
	  	 	67	 
	 7.03.
	  	 Notices
	  	 	69	 
	 7.04.
	  	 Payment of Obligations
	  	 	69	 
	 7.05.
	  	 Preservation of Existence, Etc
	  	 	69	 
	 7.06.
	  	 Maintenance of Properties
	  	 	69	 
	 7.07.
	  	 Maintenance of Insurance
	  	 	70	 
	 7.08.
	  	 Compliance with Laws
	  	 	70	 
	 7.09.
	  	 Books and Records
	  	 	70	 
	 7.10.
	  	 Inspection Rights
	  	 	70	 
	 7.11.
	  	 Use of Proceeds
	  	 	70	 
	 7.12.
	  	 Financial Covenants
	  	 	71	 
	 7.13.
	  	 Title Data
	  	 	71	 

  
 ii 

							
	 7.14.
	  	 Additional Subsidiaries
	  	 	71	 
	 7.15.
	  	 Collateral
	  	 	71	 
	 7.16.
	  	 Further Assurances
	  	 	71	 
	 7.17.
	  	 Commodity Exchange Act Keepwell Provisions
	  	 	71	 
		
	 ARTICLE VIII. NEGATIVE COVENANTS
	  	 	72	 
			
	 8.01.
	  	 Liens
	  	 	72	 
	 8.02.
	  	 Investments
	  	 	73	 
	 8.03.
	  	 Indebtedness
	  	 	75	 
	 8.04.
	  	 Fundamental Changes
	  	 	76	 
	 8.05.
	  	 Dispositions
	  	 	77	 
	 8.06.
	  	 Restricted Payments
	  	 	78	 
	 8.07.
	  	 Change of Operator
	  	 	78	 
	 8.08.
	  	 [Reserved]
	  	 	78	 
	 8.09.
	  	 Swap Contracts
	  	 	78	 
	 8.10.
	  	 Change in Nature of Business
	  	 	81	 
	 8.11.
	  	 Transactions with Affiliates
	  	 	81	 
	 8.12.
	  	 Burdensome Agreements
	  	 	81	 
	 8.13.
	  	 Use of Proceeds
	  	 	82	 
	 8.14.
	  	 Gas Balancing Agreements and Advance Payment Contracts
	  	 	82	 
	 8.15.
	  	 Accounting Changes
	  	 	82	 
	 8.16.
	  	 Maintenance of Deposit Accounts
	  	 	82	 
		
	 ARTICLE IX. EVENTS OF DEFAULT AND REMEDIES
	  	 	82	 
			
	 9.01.
	  	 Events of Default
	  	 	82	 
	 9.02.
	  	 Remedies Upon Event of Default
	  	 	84	 
	 9.03.
	  	 Application of Funds
	  	 	85	 
		
	 ARTICLE X. ADMINISTRATIVE AGENT
	  	 	86	 
			
	 10.01.
	  	 Appointment and Authorization of Administrative Agent
	  	 	86	 
	 10.02.
	  	 Rights as a Lender
	  	 	86	 
	 10.03.
	  	 Exculpatory Provisions
	  	 	87	 
	 10.04.
	  	 Reliance by Administrative Agent
	  	 	87	 
	 10.05.
	  	 Delegation of Duties
	  	 	88	 
	 10.06.
	  	 Resignation of Agent
	  	 	88	 
	 10.07.
	  	 Non-Reliance on Agent and Other Lenders
	  	 	89	 
	 10.08.
	  	 No Other Duties, Etc
	  	 	89	 
	 10.09.
	  	 Administrative Agent May File Proofs of Claim
	  	 	89	 
	 10.10.
	  	 Collateral and Guarantor Matters
	  	 	90	 
	 10.11.
	  	 Cash Management Agreements and Swap Contracts
	  	 	92	 
		
	 ARTICLE XI. MISCELLANEOUS
	  	 	92	 
			
	 11.01.
	  	 Amendments, Etc
	  	 	92	 
	 11.02.
	  	 Notices; Effectiveness; Electronic Communications
	  	 	94	 
	 11.03.
	  	 No Waiver; Cumulative Remedies; Enforcement
	  	 	96	 
	 11.04.
	  	 Expenses; Indemnity; Damage Waiver
	  	 	96	 
	 11.05.
	  	 Payments Set Aside
	  	 	98	 

  
 iii 

							
	 11.06.
	  	 Successors and Assigns
	  	 	98	 
	 11.07.
	  	 Treatment of Certain Information; Confidentiality
	  	 	102	 
	 11.08.
	  	 Right of Setoff
	  	 	103	 
	 11.09.
	  	 Interest Rate Limitation
	  	 	103	 
	 11.10.
	  	 Counterparts; Integration; Effectiveness
	  	 	104	 
	 11.11.
	  	 Survival of Representations and Warranties
	  	 	104	 
	 11.12.
	  	 Severability
	  	 	104	 
	 11.13.
	  	 Legal Representation of Agent
	  	 	105	 
	 11.14.
	  	 Replacement of Lenders
	  	 	105	 
	 11.15.
	  	 Governing Law; Jurisdiction; Etc
	  	 	106	 
	 11.16.
	  	 Waiver of Right to Trial by Jury
	  	 	106	 
	 11.17.
	  	 USA PATRIOT Act Notice
	  	 	107	 
	 11.18.
	  	 No Advisory or Fiduciary Responsibility
	  	 	107	 
	 11.19.
	  	 Electronic Execution of Assignments
	  	 	107	 
	 11.20.
	  	 Concerning Swap Contracts
	  	 	107	 
	 11.21.
	  	 Concerning Cash Management Agreements
	  	 	108	 
	 11.22.
	  	 Time of the Essence
	  	 	108	 
	 11.23.
	  	 Entire Agreement
	  	 	108	 
	 11.24.
	  	 Excluded Swap Obligations
	  	 	108	 
	 11.25.
	  	 Acknowledgement and Consent to Bail-In of EEA Financial
Institutions
	  	 	108	 

  
 iv 

			
	SCHEDULES	  	
		
	 1.01
	  	 Designated Investment Entities

	 2.01
	  	 Commitments and Applicable Percentages

	 5.01
	  	 Loan Documents to be Executed at Closing

	 6.06
	  	 Litigation

	 6.09
	  	 Environmental Matters

	 6.13
	  	 Subsidiaries and Other Equity Investments

	 6.20
	  	 Existing Swap Contracts

	 8.01
	  	 Existing Liens

	 8.03
	  	 Existing Indebtedness

	 11.02
	  	 Administrative Agent’s Office, Certain Addresses for Notices

	 11.06
	  	 Processing and Recording Fees

		
	EXHIBITS	  	
		
	 Form of
	  	
	 A
	  	 Loan Notice

	 B
	  	 Note

	 C
	  	 Compliance Certificate

	 D
	  	 Assignment and Assumption

	 E
	  	 Opinion Matters

	 F
	  	 Affidavit of Payment of Trade Bills

	 G
	  	 Property Certificate

	 H
	  	 Reconciliation Schedule

	 I
	  	 Designated Investment Entity Certificate

	 J
	  	 [Reserved]

	 K-1
	  	 U.S. Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal
Income Tax Purposes)

	 K-2
	  	 U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S.
Federal Income Tax Purposes)

	 K-3
	  	 U.S. Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income
Tax Purposes)

	 K-4
	  	 U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal
Income Tax Purposes)

	 L
	  	 Elected Commitment Increase Certificate

	 M
	  	 Additional Lender Certificate

  
 v 

 AMENDED AND RESTATED CREDIT AGREEMENT 

AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of December 27, 2013, among
GULFPORT ENERGY CORPORATION, a Delaware corporation (“Borrower”), each lender from time to time party hereto (collectively, “Lenders” and individually, a “Lender”), and
THE BANK OF NOVA SCOTIA, as Administrative Agent, L/C Issuer and sole arranger and sole bookrunner. 
 R E C
I T A L S 
 A.    The Borrower, the Administrative Agent and certain lenders
have previously entered into that certain Credit Agreement dated as of September 30, 2010, which was then amended by that certain First Amendment to Credit Agreement dated as of May 3, 2011, that certain Second Amendment to Credit
Agreement dated as of 10:00 am, October 31, 2011, that certain Third Amendment to Credit Agreement dated as of 12:00 pm, October 31, 2011, that certain Fourth Amendment to Credit Agreement dated as of May 2, 2012, those two certain
waiver and consent letters dated October 1, 2012, that certain Fifth Amendment to Credit Agreement dated as of October 9, 2012, that certain Sixth Amendment to Credit Agreement dated as of October 17, 2012, that certain Seventh
Amendment to Credit Agreement dated as of December 18, 2012, that certain Eighth Amendment to Credit Agreement dated as of June 6, 2013, and that certain Ninth Amendment to Credit Agreement, dated as of November 22, 2013 (these twelve
instruments are collectively referred to herein as the “Existing Credit Agreement”). 

B.    The parties desire to further amend the Existing Credit Agreement to make certain agreed changes, and the parties
deem it advantageous to restate the terms and provisions of the Existing Credit Agreement as hereinafter set forth. 
 NOW, THEREFORE, in
consideration of the mutual covenants and agreements contained herein, and of the loans, extensions of credit and commitments hereinafter referred to, the parties hereto agree that the Existing Credit Agreement is hereby amended and restated to read
in its entirety as follows: 
 ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS 

1.01. Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth
below: 
 “Acquisition Hedges” has the meaning set forth in Section 8.09. 

“Additional Lender” has the meaning set forth in Section 2.05(b)(i). 

“Additional Lender Certificate” has the meaning set forth in Section 2.05(b)(ii)(G). 

“Administrative Agent” or “Agent” means Scotiabank in its capacity as administrative agent
under any of the Loan Documents, or any successor administrative agent. 
 “Administrative Agent’s Office”
means Agent’s address and, as appropriate, account as set forth on Schedule 11.02, or such other address or account as Agent may from time to time notify Borrower and Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by Agent. 

  
 CREDIT AGREEMENT – Page 1

 “Advance Payment Contract” means any contract whereby any Loan Party
either receives or becomes entitled to receive (either directly or indirectly) any payment (an “Advance Payment”) to be applied toward payment of the purchase price of hydrocarbons produced or to be produced from Mineral
Interests owned by any Loan Party and which Advance Payment is paid or to be paid in advance of actual delivery of such production to or for the account of the purchaser regardless of such production; provided that inclusion of the
standard “take or pay” provision in any gas sales or purchase contract or any other similar contract shall not, in and of itself, constitute such contract as an Advance Payment Contract for the purposes hereof. 

“Affidavit of Payment of Trade Bills” means an affidavit in the form of Exhibit F attached
hereto. 
 “Affiliate” means, with respect to any 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. 
 “Aggregate
Commitments” means the Commitments of all Lenders. 
 “Aggregate Elected Commitment Amount” at any time
shall equal the sum of the Elected Commitment Amounts, as the same may be increased, reduced or terminated pursuant to Section 2.05. The Aggregate Elected Commitment Amount as of the Eleventh Amendment Effective Date is
$1,000,000,000. 
 “Agreement” means this Amended and Restated Credit Agreement, as amended, restated, supplemented
or otherwise modified from time to time. 
 “Anti-Corruption Laws” means all state or federal laws, rules, and
regulations applicable to Borrower or any of its Affiliates from time to time concerning or relating to bribery or corruption, including the FCPA. 

“Applicable Percentage” means with respect to any Lender at any time, the percentage (carried out to the ninth decimal
place) of the Aggregate Commitments represented by such Lender’s Commitment at such time. If the Commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to
Section 9.02 or otherwise or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such Lender most recently in effect, giving
effect to any subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as
applicable. 
 “Applicable Rate” means, from time to time, the following percentages per annum, based upon the
Applicable Usage Level: 
  

													
	Applicable Rate	 
	 Applicable

Usage Level
	  	Commitment fee	 	 	Eurodollar Rate
Loans and Letters
of Credit	 	 	Base Rate Loans	 
	 Level 1
	  	 	0.375	% 	 	 	1.50	% 	 	 	0.50	% 
	 Level 2
	  	 	0.375	% 	 	 	1.75	% 	 	 	0.75	% 
	 Level 3
	  	 	0.50	% 	 	 	2.00	% 	 	 	1.00	% 
	 Level 4
	  	 	0.50	% 	 	 	2.25	% 	 	 	1.25	% 
	 Level 5
	  	 	0.50	% 	 	 	2.50	% 	 	 	1.50	% 

  
 CREDIT AGREEMENT – Page 2

 Any increase or decrease in the Applicable Rate resulting from a change in the Applicable Usage
Level shall become effective as of the date of the change in the Applicable Usage Level. The Applicable Rate shall be Level 5 during any period that a Borrowing Base deficiency is being paid back in installments as permitted by
Section 4.06. 
 “Applicable Usage Level” means on any date the level set forth below that
corresponds to the percentage, as of the close of business on such day, equivalent to (a) Total Outstandings, divided by (b) the then effective Borrowing Base: 
  

			
	Applicable Usage Level
	 Level
	  	 Usage Percent

	 Level 1
	  	Less than 25%
	 Level 2
	  	25% or greater but less than 50%
	 Level 3
	  	50% or greater but less than 75%
	 Level 4
	  	75% or greater but less than 90%
	 Level 5
	  	90% or greater

 “Applicable Usury Laws” has the meaning set forth in
Section 11.09 hereof. 
 “Approved Fund” means any Fund that is administered or managed by
(a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arranger” means, collectively, Scotiabank, Keybank National Association and PNC Bank, National Association, each in
its capacity as joint lead arranger and joint bookrunner. 
 “ASC 815” means the Accounting Standards Codification
No. 815 (Derivatives and Hedging), as issued by the Financial Accounting Standards Board. 
 “Asset
Disposition” means the sale, assignment, lease, license, transfer, exchange or other Disposition by any Loan Party of any oil and gas property included in the Borrowing Base, provided that the sale of the hydrocarbons, including
Advance Payment Contracts, and Swap Contracts, in the ordinary course of business shall not be deemed to be an Asset Disposition. 

“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds
managed by the same investment advisor. 
 “Assignment and Assumption” means an assignment and assumption entered
into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 11.06(b)), and accepted by Agent, in substantially the form of Exhibit D or any other form approved by
Agent. 
 “Attributable Indebtedness” means, on any date, (a) in respect of any capital lease of any Person,
the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments
under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease. 

“Audited Financial Statements” means the audited consolidated balance sheet of Borrower and its Subsidiaries for the
fiscal year ended December 31, 2012, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of Borrower and its Subsidiaries, including the notes thereto. 

  
 CREDIT AGREEMENT – Page 3

 “Availability Period” means the period from and including the Closing
Date to the earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate Commitments pursuant to Section 2.05, and (c) the date of termination of the commitment of each Lender to make Loans
and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 9.02. 
 “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU
Bail-In Legislation Schedule. 
 “Base Rate” means for any day a fluctuating
rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Agent as its “prime rate,” and (c) the Eurodollar Rate
for an Interest Period of one month plus 1.00%. The “prime rate” is a rate set by Agent based upon various factors including Agent’s costs and desired return, general economic conditions and other factors, and is used as a reference
point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in the Federal Funds Rate, the prime rate or the Eurodollar Rate for a period of one month shall be effective on the effective date of such change.

 “Base Rate Loan” means a Loan that bears interest based on the Base Rate. 

“Benefiting Guarantor” means a Guarantor for which funds or other support are necessary for such Guarantor to
constitute an Eligible Contract Participant. 
 “Borrower” has the meaning specified in the introductory paragraph
hereto. 
 “Borrower Account” has the meaning specified in Section 2.11(a)(ii). 

“Borrower Materials” has the meaning specified in Section 7.02. 

“Borrowing” means a borrowing consisting of simultaneous Loans of the same Type and, in the case of Eurodollar Rate
Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. 

“Borrowing Base” means the maximum loan amount that may be supported by the oil and gas properties of the Loan Parties
included in the most recent Reserve Report provided to Agent, as determined by Agent and approved by the Required Lenders, or all of the Lenders, as applicable, in accordance with Article IV. 

“Borrowing Base Deficiency Notice” has the meaning specified in Section 4.06. 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to
close under the Laws of, or are in fact closed in, the state where Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan, means any such day on which dealings in Dollar deposits are conducted by and
between banks in the London interbank eurodollar market. 

  
 CREDIT AGREEMENT – Page 4

 “Cash Collateralize” means to pledge and deposit with or deliver to
Agent, for the benefit of the L/C Issuer and the Lenders, as collateral for the L/C Obligations or obligations of Lenders to fund participations in respect of L/C Obligations, cash or deposit account balances, or, if the Administrative Agent and the
L/C Issuer shall agree in their sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to Administrative Agent and the L/C Issuer (which documents are hereby consented to by Lenders).
“Cash Collateral” shall have a corresponding meaning. 
 “Cash Management Agreement” means any agreement
to provide cash management services, including treasury, depositing, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements. 

“Cash Management Obligations” means all obligations, indebtedness, and liabilities of Borrower and any Subsidiary
arising under any Secured Cash Management Agreement, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, fees and other amounts
that accrue after the commencement by or against Borrower or any Subsidiary of any proceeding under any Debtor Relief Law naming the Borrower or such Subsidiary as the debtor in such proceeding, regardless of whether such interest, fees or other
amounts are allowed claims in such proceeding. 
 “Cash Management Party” means any Person that is a Lender or an
Affiliate of a Lender and is a party to a Cash Management Agreement with Borrower or any Subsidiary. 
 “Change in Law”
means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any Law, (b) any change in any Law or in the administration, interpretation, implementation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the
contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by
the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be
a “Change in Law”, regardless of the date enacted, adopted or issued. 
 “Change of Control” means, with
respect to any Loan Party other than Borrower, an event or series of events by which Borrower ceases to Control such Loan Party, and means with respect to Borrower, any event or series of events by which: 

(a)    any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) other than one or more
Permitted Holders becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group
shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire (such right, an “option right”), whether such right is exercisable immediately or only after the passage of
time), directly or indirectly, of 40% or more of the voting power of the Equity Interests of such Person entitled to vote for members of the board of directors or equivalent governing body of such Person on a fully-diluted basis (and taking into
account all such securities that such person or group has the right to acquire pursuant to any option right); 

  
 CREDIT AGREEMENT – Page 5

 (b)    any Person or two or more Persons (other than Permitted Holders)
acting in concert shall have acquired by contract or otherwise, or shall have entered into a contract or arrangement that, upon consummation thereof, will result in its or their acquisition of the power to exercise, directly or indirectly, a
controlling influence over the management or policies of such Person, or control over the equity securities of such Person entitled to vote for members of the board of directors or equivalent governing body of such Person on a fully-diluted basis
(and taking into account all such securities that such Person(s) or group has the right to acquire pursuant to any option right) representing 40% or more of the combined voting power of such securities; 

provided, for avoidance of doubt, a Disposition of Equity Interests among Loan Parties permitted by Section 8.05(c) shall not
be considered a Change of Control. 
 “Closing Date” means the first date all the conditions precedent in
Section 5.01 are satisfied or waived in accordance with Section 11.01. 

“Code” means the Internal Revenue Code of 1986. 

“Collateral” shall mean any and all assets and rights and interests in or to property of Borrower and each of the
other Loan Parties, whether real or personal, tangible or intangible, in which a Lien is granted or purported to be granted pursuant to the Collateral Documents. 

“Collateral Documents” means all Oil and Gas Mortgages, each Security Agreement, each Subsidiary Security Agreement,
each Pledge Agreement, each Subsidiary Pledge Agreement, and all other agreements, instruments and documents (other than Lender Swap Contracts, and Secured Cash Management Agreements) now or hereafter executed and delivered in connection with this
Agreement pursuant to which Liens are granted or purported to be granted to Agent in Collateral securing all or part of the Obligations, each in form and substance satisfactory to Agent. 

“Commitment” means, as to each Lender at any time, its obligation to (a) make Loans to Borrower pursuant to
Section 2.01, and (b) purchase participations in L/C Obligations, in an aggregate principal amount equal to the least of (i) such Lender’s Applicable Percentage of the Maximum Facility Amount, (ii) such
Lender’s Applicable Percentage of the then effective Borrowing Base, and (iii) such Lender’s Elected Commitment Amount. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from
time to time, and any successor statute. 
 “Compliance Certificate” means a certificate substantially in the form
of Exhibit C. 
 “Contractual Obligation” means, as to any Person, any provision of any security issued by
such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Contributed Value” means, with respect to any JV Non-Borrowing Base Property
Investment, the fair market value thereof on the date contributed to a joint venture, as such value is reasonably determined by the board of directors or a Responsible Officer of Borrower and, if requested by Agent, described on a certificate of a
Responsible Officer of Borrower certifying to that effect. 

  
 CREDIT AGREEMENT – Page 6

 “Control” means 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 ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings
correlative thereto. 
 “Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C
Credit Extension. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in
effect and affecting the rights of creditors generally. 
 “Default” means any event or condition that constitutes
an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 

“Default Rate” means (a) when used with respect to Obligations other than L/C Fees an interest rate equal to
(i) the Base Rate plus (ii) the Applicable Rate applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest
rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, but in each case in no event in excess of the Maximum Rate, and (b) when used with respect to L/C Fees, a rate equal to the
Applicable Rate plus 2% per annum. 
 “Defaulting Lender” means, subject to
Section 2.15(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the
Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be
specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the L/C Issuer or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in
Letters of Credit) within two Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent or the L/C Issuer in writing that it does not intend to comply with its funding obligations hereunder, or has made a
public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to
funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the
Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender
pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any
Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the
Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or (iii) become the subject of a Bail-In Action; provided that a Lender shall not
be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or
provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow
or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender 

  
 CREDIT AGREEMENT – Page 7

 
under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to
Section 2.15(b)) upon delivery of written notice of such determination to the Borrower, the L/C Issuer and each Lender. 

“Designated Investment Entities” means the Persons listed on Schedule 1.01, as updated from time to time by
Borrower by written notice to Agent, which Persons are primarily engaged in any business or activity relating to or arising from exploration for or acquisition, exploitation, development, production, treatment, processing, storage, transportation,
gathering, marketing or other handling of oil, natural gas, other hydrocarbons, sand, minerals and all constituents, elements or compounds thereof, and other products commonly created, recovered or produced in association therewith or refined or
processed therefrom, Mineral Interests and related intellectual property, or any activity necessary, appropriate or incidental to any of the foregoing, including oilfield services, administrative services and other services used or useful in
connection with any of the foregoing; provided that (i) no Subsidiary shall be a Designated Investment Entity and (ii) any Designated Investment Entity that shall at any time meet the definition of “Subsidiary” shall
thereafter cease to be a Designated Investment Entity. 
 “Disposition” or “Dispose” means
the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person, including any Asset Disposition and any sale, assignment, transfer or other disposal, with or without recourse, of
any notes or accounts receivable or any rights and claims associated therewith. 
 “Dollar” and
“$” mean lawful money of the United States. 
 “Domestic Subsidiary” means any Subsidiary
that is organized under the laws of any political subdivision of the United States. 
 “EBITDAX” means net income,
excluding (i) any non-cash revenue or expense associated with Swap Contracts resulting from ASC 815 and (ii) any cash or non-cash revenue or expense
attributable to minority investments, plus without duplication and, in the case of expenses, to the extent deducted from revenues in determining net income, the sum of (a) the aggregate amount of consolidated Interest Expense for such period,
(b) the aggregate amount of income, franchise, capital or similar tax expense (other than ad valorem taxes) for such period, (c) all amounts attributable to depletion, depreciation, amortization and asset or goodwill impairment or
writedown for such period, (d) all other non-cash charges, (e) exploration costs deducted in determining net income under successful efforts accounting, (f) actual cash distributions received
from minority investments (but, for the avoidance of doubt, not including proceeds received from Dispositions of such minority investments), (g) to the extent actually reimbursed by insurance, expenses with respect to liability on casualty events or
business interruption, and (h) all reasonable transaction expenses related to Dispositions and acquisitions of assets, investments and debt and equity offerings by any Loan Party (in each case whether or not successful, provided that expenses
related to unsuccessful Dispositions shall be limited to $3,000,000 in the aggregate for the period from the Closing Date to the Maturity Date), all determined on a consolidated basis with respect to Borrower and its Subsidiaries in accordance with
GAAP, using the results of the twelve-month period ending with that reporting period. For the purposes of calculating EBITDAX for any test period of four consecutive fiscal quarters (each, a “Reference Period”), (i) if during such
Reference Period Borrower or any Subsidiary shall have made a Material Disposition or Material Acquisition, EBITDAX for such Reference Period shall be calculated on a pro forma basis as if such Material Disposition or Material Acquisition had
occurred on the first day of such Reference Period, and (ii) solely with respect to calculations made in connection with determining pro forma compliance with covenants set forth in the Loan Documents, EBITDAX for a Reference Period shall be
calculated on a pro forma basis as if Material Dispositions and Material Acquisitions made during or after the end of the Reference Period but on or before the date of determination had occurred on the first day of such Reference Period. 

  
 CREDIT AGREEMENT – Page 8

 “EEA Financial Institution” means (a) any credit institution or
investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause
(a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated
supervision with its parent. 
 “EEA Member Country” means any of the member states of the European Union, Iceland,
Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public administrative authority or any person
entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Elected Commitment Amount” means, as to each Lender, the amount set forth opposite such Lender’s name on
Schedule 2.01 under the caption “Elected Commitment”, as the same may be increased, reduced or terminated from time to time in connection with an increase, reduction or termination of the Aggregate Elected
Commitment Amount pursuant to Section 2.05. 
 “Elected Commitment Increase
Certificate” has the meaning assigned to such term in Section 2.05(b)(ii)(F). 
 “Eleventh
Amendment Effective Date” means November 21, 2017. 
 “Eligible Assignee” means any Person that
meets the requirements to be an assignee under Section 11.06(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under Section 11.06(b)(iii)); provided
that notwithstanding the foregoing, “Eligible Assignee” shall not include Borrower or any of Borrower’s Affiliates or Subsidiaries. 

“Eligible Contract Participant” means an “eligible contract participant” as defined in the Commodity
Exchange Act and the regulations thereunder. 
 “Environmental Laws” means any and all Federal, state, local, and
foreign statutes, Laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the
release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of Borrower, any other Loan Party or any of their respective Subsidiaries resulting from (a) violation of 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 or threatened release of any Hazardous Materials into the environment 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” means, with respect to any Person, all of the shares of capital stock of (or other ownership or
profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities convertible
into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or 

  
 CREDIT AGREEMENT – Page 9

 
acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests
therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any date of determination. 

“ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with Borrower within
the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by Borrower or
any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a
withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of
intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or condition which
constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA, other than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon Borrower or any ERISA Affiliate. 
 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time
to time. 
 “Eurodollar Base Rate” has the meaning specified in the definition of Eurodollar Rate. 

“Eurodollar Rate” means for any Interest Period with respect to a Eurodollar Rate Loan, a rate per annum determined by
Agent pursuant to the following formula: 
  

							
		  	Eurodollar Rate =	  	 Eurodollar Base Rate
	 	
	  	  	1.00 – Eurodollar Reserve Percentage	 	

 , provided that if the ‘‘Eurodollar Rate’’ shall be less than zero, such rate shall be deemed to be zero
for purposes of this Agreement; 
 Where, 

“Eurodollar Base Rate” means, for such Interest Period (rounded upwards, as necessary, to the nearest 1/100 of 1%):

 (a)    the rate per annum equal to the rate determined by Agent to be the London interbank offered
rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate) that appears on pages LIBOR01 or LIBOR 02 of the Reuters screen that displays such rate (or any successor thereto) for
deposits in Dollars (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period, or

  
 CREDIT AGREEMENT – Page
10 

 (b)    if the rate referenced in the preceding clause
(a) does not appear on such page or service or such page or service shall not be available, the rate per annum equal to the rate determined by Agent to be the offered rate on such other page or other service that displays an average London
interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in Dollars (for delivery on the first day of such Interest Period) with a term equivalent to
such Interest Period, determined as of approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period, or 

(c)    if the rates referenced in the preceding clauses (a) and (b) are not available, Agent
shall determine such rate as the average of quotations for three (3) major New York money center banks of whom the Agent shall inquire as the “London Interbank Offered Rate” for deposits in U.S. Dollars at approximately 4:00 p.m.
(London time) two Business Days prior to the first day of such Interest Period. 
 “Eurodollar Reserve
Percentage” means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from
time to time by the Board of Governors of the Federal Reserve System of the United States for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency
funding (currently referred to as “Eurocurrency liabilities”). The Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage. 

“Eurodollar Rate Loan” means a Loan that bears interest at a rate based on the Eurodollar Rate. 

“Event of Default” has the meaning specified in Section 9.01. 

“Excluded Accounts” means accounts exclusively used for payroll, payroll taxes or other employee wage and benefit
payments, accounts exclusively holding assets subject to an escrow or purchase price adjustment mechanism, and accounts that exclusively hold funds belonging to, or for the benefit of, a Person other than a Loan Party, and accounts having average
daily collected balances not greater than $2,500,000 during the most recently completed calendar quarter (or for any account opened after the most recently completed calendar quarter, that will have an average daily collected balance not greater
than $2,500,000 as of the end of the calendar quarter during which such account was opened). 
 “Excluded Swap Obligation”
means, with respect to any Loan Party individually determined on a Loan Party by Loan Party basis, any Swap Obligation, if and to the extent that, all or a portion of the joint and several liability or the guaranty of such Loan Party for, or
the grant by such Loan Party of a security interest or other Lien to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading
Commission (or the application or official interpretation of any thereof) by virtue of such Loan Party’s failure for any reason to constitute an Eligible Contract Participant at the time such guarantee or the grant of such security interest or
other Lien becomes effective with respect to, or any other time such Loan Party is by virtue of such guarantee or grant of such security interest or other Lien otherwise deemed to enter into, such Swap Obligation. If a Swap Obligation arises under a
Master Agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee, security interest or other Lien is or becomes illegal. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld
or deducted from a payment to a Recipient, (a) Taxes imposed on or measured 

  
 CREDIT AGREEMENT – Page
11 

 
by its overall net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or
having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a
Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such
interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Sections 3.06(b) and 11.14) or (ii) such Lender changes its lending office, except in each case to the extent
that, pursuant to Section 3.01, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its
lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(g) and (d) any U.S. federal withholding Taxes imposed under FATCA. 

“Existing Credit Agreement” has the meaning specified in Recital A. 

“Existing Lenders” means each “Lender” (as defined in the Existing Credit Agreement) that is a party to the
Existing Credit Agreement immediately prior to the Closing Date. 
 “Exiting Lenders” means each Existing Lender who
is not a Lender under this Agreement on the Closing Date and who is identified as having the status of an Exiting Lender on the applicable signature page hereto. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor
version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code. 

“FCPA” means the Foreign Corrupt Practices Act of 1977, as amended. 

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight
Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such
day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next
succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Agent on such day on such transactions as determined by Agent, provided that if the
‘‘Federal Funds Rate’’ shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Fee Letter” means the letter agreement dated December 19, 2013, between Borrower and Agent or any subsequent
letter agreement between Borrower and Agent that by its terms replaces such letter agreement. 
 “Filing” has the
meaning specified in Section 6.03. 
 “Foreign Lender” means any Lender that is organized
under the Laws of a jurisdiction other than that in which the Borrower is resident for tax purposes (including such a Lender acting in the capacity of the L/C Issuer). For purposes of this definition, the United States, each State thereof and the
District of Columbia shall be deemed to constitute a single jurisdiction. 

  
 CREDIT AGREEMENT – Page
12 

 “Foreign Subsidiary” means any Subsidiary that is not a Domestic
Subsidiary. 
 “FRB” means the Board of Governors of the Federal Reserve System of the United States. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, with respect to the L/C Issuer, such Defaulting
Lender’s Applicable Percentage of the outstanding L/C Obligations with respect to Letters of Credit issued by the L/C Issuer other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to
other Lenders or Cash Collateralized in accordance with the terms hereof. 
 “Fund” means any Person (other than a
natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and
pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant
segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 

“Gas Balancing Agreement” means any agreement or arrangement whereby any Loan Party, or any other party having an
interest in any hydrocarbons to be produced from Mineral Interests in which any Loan Party owns an interest, has a right to take more than its proportionate share of production therefrom. 

“Governmental Authority” means the government of the United States or any other nation, or of any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantee” means, as to any Person, any obligation, contingent or otherwise, of such Person guaranteeing or having
the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or
indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in
respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of
income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or
other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the
related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The
term “Guarantee” as a verb has a corresponding meaning. 

  
 CREDIT AGREEMENT – Page
13 

 “Guarantor” means, collectively, each Domestic Subsidiary of Borrower
that now or hereafter executes a Guaranty pursuant to Section 7.14, and any other Person which subsequently guarantees the payment and performance of the Obligations. 

“Guaranty” means, collectively, any Guaranty made by a Guarantor in favor of Agent for the benefit of the
Secured Parties, in form and substance satisfactory to Agent. 
 “Hazardous Materials” means all explosive or
radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical
wastes and all other substances or wastes, the release or presence of which requires reporting, permitting, remediation or investigation pursuant to any Environmental Law. 

“Hedging Notional Volume Measurement Quarter” has the meaning set forth in
Section 8.09(a)(ii). 
 “Increasing Lender” has the meaning set forth in
Section 2.05(b)(i). 
 “Indebtedness” means, as to any Person at a particular time,
without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 

(a)    all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures,
notes, loan agreements or other similar instruments; 
 (b)    all direct or contingent obligations of such Person
arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 

(c)    net obligations of such Person under any Swap Contract; 

(d)    all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts
payable in the ordinary course of business); 
 (e)    indebtedness (excluding prepaid interest thereon) secured by a
Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;

 (f)    capital leases and Synthetic Lease Obligations; 

(g)    all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any
Equity Interest in such Person or any other Person, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and 

(h)    all Guarantees of such Person in respect of any of the foregoing. 

The amount of any unassumed Indebtedness under clause (e) above shall be deemed to be the lesser of the amount of such Indebtedness and the fair market
value of the property of such Person securing such Indebtedness. For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or other entity where owners of Equity Interests thereof have liability for
the obligations 

  
 CREDIT AGREEMENT – Page
14 

 
of such entity in which such Person is a general partner or owner of Equity Interests, unless (1) such Indebtedness is expressly made non-recourse to
such Person, or (2) such Indebtedness is owed by such Person to the owners of the Equity Interests thereof. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such
date. The amount of any capital lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date. Notwithstanding the foregoing, it is understood and agreed that
Indebtedness shall not include (x) obligations under agreements providing for earnouts, the adjustment of the purchase price, working capital or similar adjustments in connection with any Investment, acquisition or Disposition and indemnity
obligations under such agreements, (y) obligations which are identified as liabilities on a Person’s balance sheet in accordance with GAAP in connection with a noncompete, consulting or other similar arrangement or (z) obligations to
make Investments. For avoidance of doubt, Indebtedness does not include Wexford ULC Obligations. 
 “Indemnified
Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in
(a), Other Taxes. 
 “Indemnitee” has the meaning specified in Section 11.04(b). 

“Information” has the meaning specified in Section 11.07. 

“Interest Expense” means, as of the last day of any fiscal quarter, the interest expense, both expensed and
capitalized (including the interest component in respect of capitalized lease obligations), accrued or paid by Borrower and its Subsidiaries during such period, determined on a consolidated basis in accordance with GAAP, using the results of the
twelve-month period ending with that reporting period. 
 “Interest Payment Date” means, (a) as to any Loan
other than a Base Rate Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every
three months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date. 

“Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan
is disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one, two, three, six or twelve months thereafter, as selected by Borrower in its Loan Notice; provided that: 

(i)    any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next
succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(ii)    any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(iii)    no Interest Period shall extend beyond the Maturity Date. 

“Investment” means, as to any Person (a) the purchase or other acquisition of Equity Interests of another Person,
(b) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness 

  
 CREDIT AGREEMENT – Page
15 

 
of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership interest and any arrangement pursuant to which the
investor Guarantees Indebtedness of such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit. For purposes of covenant compliance,
the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by
the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance). 

“Issuer Documents” means with respect to any Letter of Credit, the L/C Application, and any other document, agreement
and instrument entered into by the L/C Issuer and Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to any such Letter of Credit. 

“JV Investments Amount” means Investments consisting solely of any combination of cash and the Contributed Value of JV
Non-Borrowing Base Property Investments. 
 “JV
Non-Borrowing Base Property Investment” means oil and gas or other properties of the Borrower or any Subsidiary not included in the Borrowing Base that are contributed to a joint venture under
Section 8.02(j). 
 “Laws” means, collectively, all international, foreign, Federal, state and local statutes,
treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation
or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 

“L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing
in accordance with its Applicable Percentage. 
 “L/C Application” means an application and agreement for the
issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer. 
 “L/C
Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Borrowing. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry
date thereof, or the increase of the amount thereof. 
 “L/C Expiration Date” means the day that is seven days prior
to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day). 
 “L/C
Fee” has the meaning specified in Section 2.03(i). 
 “L/C Issuer” means
Scotiabank in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder. 

  
 CREDIT AGREEMENT – Page
16 

 “L/C Obligations” means, as at any date of determination, the aggregate
amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the
amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still
be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“L/C Sublimit” means, at any time, an amount equal to the greater of $150,000,000 or 40% of the Aggregate Commitments
existing at such time. The L/C Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Lender”
has the meaning specified in the introductory paragraph hereto. 
 “Lender Swap Contract” means any Swap Contract
between Borrower or any Subsidiary and any Swap Lender. “Lender Swap Contract” shall not include any transactions or confirmations with a counterparty entered into after such counterparty ceases to be a Lender or an Affiliate of a Lender.

 “Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such
Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify Borrower and Agent. 

“Letter of Credit” means any standby letter of credit issued hereunder. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or
other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement,
right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). 

“Liquidity” means the sum of cash on hand plus the difference between the Aggregate Commitments and the Total
Outstandings. 
 “Loan” has the meaning specified in Section 2.01. 

“Loan Documents” means this Agreement, each Note, each Issuer Document, the Fee Letter, each Collateral Document, each
Guaranty, each Affidavit of Payment of Trade Bills, each Property Certificate, each Reconciliation Schedule, each Title Indemnity Agreement, each Security Agreement, each Subsidiary Security Agreement, each Pledge Agreement, each Subsidiary Pledge
Agreement, and all other documents and instruments executed and/or delivered by any Loan Party in connection with any Loan, together with all renewals, extensions, modifications and amendments from time to time of any such document, including any of
the foregoing executed in connection with the Existing Credit Agreement and still in effect, but excluding any Lender Swap Contract and any Secured Cash Management Agreement. 

“Loan Notice” means a notice of (a) a Borrowing, (b) a conversion of Loans from one Type to the other, or
(c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A. 

“Loan Parties” means, collectively, Borrower and each Guarantor. 

  
 CREDIT AGREEMENT – Page
17 

 “Majority Lenders” means, as of any date of determination, Lenders having
more than 50% of the Aggregate Commitments or, if the Commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 9.02, Lenders holding
in the aggregate more than 50% of the Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations being deemed “held” by such Lender for purposes of this definition);
provided that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Lenders. 

“Material Acquisition” means any acquisition of property or series of related acquisitions of properties (including by
way of merger or consolidation) that involves the payment of consideration by Borrower and its Subsidiaries in excess of $50,000,000. 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the
operations, business, properties, condition (financial or otherwise) of Borrower or Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the ability of any Loan Party to perform its obligations under any Loan Document to
which it is a party; (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party; or (d) a material adverse change in, or a material adverse
effect upon, Mortgaged Properties having an aggregate value in excess of $20,000,000 as reflected in the most recent Reserve Report furnished to Agent. 

“Material Disposition” means any Disposition of property or series of related Dispositions of properties that yields
gross proceeds to Borrower or any of its Subsidiaries in excess of $50,000,000. 
 “Material Gas Imbalance” means,
with respect to all Gas Balancing Agreements to which any Loan Party is a party or by which any Mineral Interest owned by any Loan Party is bound, a net gas imbalance to Borrower or any other Loan Party, individually or taken as a whole in excess of
$1,000,000. Gas imbalances will be determined based on written agreements, if any, specifying the method of calculation thereof, or, alternatively, if no such agreements are in existence, gas imbalances will be calculated by multiplying (x) the
volume of gas imbalance as of the date of calculation (expressed in thousand cubic feet) by (y) the heating value in BTU’s per thousand cubic feet, times the Henry Hub average daily spot price for the month immediately preceding the
date of calculation, adjusted for location differential and transportation costs based on the location where the Mineral Interests giving rise to the imbalances are located. 

“Maturity Date” means December 13, 2021; provided however that if such date is not a Business Day, the Maturity
Date shall be the next preceding Business Day. 
 “Maximum Amount” and “Maximum Rate” have
the meanings specified in Section 11.09. 
 “Maximum Facility Amount” means
$1,500,000,000. 
 “Mineral Interests” means (a) all present and future interests and estates existing under
any oil and gas leases including without limitation working interests, royalties, overriding royalties, production payments and net profits interests, (b) all present and future rights in mineral fee interests and rights therein, including
without limitation, any reversionary or carried interests relating thereto, (c) all rights, titles and interests created by or arising under the terms of all present and future unitization, communitization, and pooling arrangements (and all
properties covered and units created thereby) whether arising by contract or operation of Law which now or hereafter include all or any part of the foregoing, and (d) all rights, remedies, powers and privileges with respect to all of the
foregoing. 

  
 CREDIT AGREEMENT – Page
18 

 “Minimum Collateral Amount” means, at any time, (i) with respect to
Cash Collateral consisting of cash or deposit account balances, an amount equal to 100% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time and (ii) otherwise, an amount determined by
Administrative Agent and the L/C Issuer in their sole discretion. 
 “Monthly Reduction Amount” has the meaning
specified in Section 4.05. 
 “Mortgaged Properties” means all present and future Mineral
Interests of one or more Loan Parties in all oil and gas properties in which such Loan Parties have granted or do hereafter grant a mortgage or Lien to Agent for the ratable benefit of the Secured Parties. 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to
which Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Net Funded Debt” means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated
basis, (i) the sum of (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and all obligations evidenced by
bonds, debentures, notes, loan agreements or other similar instruments, (b) all purchase money Indebtedness, (c) all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank
guaranties, surety bonds and similar instruments, (d) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business), (e) Indebtedness in respect of
capital leases, (f) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (a) through (e) above of Persons other than the Borrower or any Subsidiary, and (g) all
Indebtedness of the types referred to in clauses (a) through (f) above of any partnership or other entity where owners of Equity Interests thereof have liability for the obligations of such entity in which the Borrower or a Subsidiary is a
general partner or owner of such Equity Interests, unless (1) such Indebtedness is expressly made non-recourse to the Borrower or such Subsidiary, or (2) such Indebtedness is owed by such entity to
the owners of the Equity Interests thereof, minus (ii) the amount of cash and short-term investments of Borrower and its Subsidiaries at the end of the relevant fiscal quarter with respect to which the ratio of Net Funded Debt to EBITDAX is
being calculated. For avoidance of doubt, Net Funded Debt does not include Wexford ULC Obligations. 
 “Ninth Amendment Effective
Date” means May 4, 2017. 
 “Non-Consenting Lender” has
the meaning set forth in Section 11.14. 
 “Non-Defaulting
Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. 
 “Note” means a
promissory note made by Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form of Exhibit B, and all renewals, extensions, modifications and amendments thereto, and substitutions therefor. 

“Obligations” means, collectively, (i) all advances to and all debts, obligations, liabilities (including all
renewals and extensions thereof, or any part thereof), and all covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, including all obligations of any Loan Party described
in Section 11.04 hereof, (ii) net obligations under any Lender Swap Contract (which net obligations shall be deemed to be the Swap Termination Value as of the date the Obligations are being determined), provided that
notwithstanding anything to the contrary 

  
 CREDIT AGREEMENT – Page
19 

 
herein or in any other Loan Document, “Obligations” shall not include, with respect to any Loan Party, any Excluded Swap Obligations of such Loan Party, and (iii) all Cash
Management Obligations, in any case described in the foregoing clauses (i), (ii) and (iii), whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or
hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest
and fees are allowed claims in such proceeding. 
 “OFAC” means the U.S. Department of the Treasury’s Office of
Foreign Assets Control. 
 “Oil and Gas Mortgage” has the meaning specified in
Section 2.13(a). 
 “Organization Documents” means, (a) with respect to any
corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited
liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, trust or other form of business entity, the partnership or other applicable agreement of formation or
organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity. 
 “Other Connection Taxes”
means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a
party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan
Document). 
 “Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing
or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except
any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06). 

“Outstanding Amount” means (i) with respect to Loans on any date, the aggregate outstanding principal amount
thereof after giving effect to any borrowings and prepayments or repayments of Loans, as the case may be, occurring on such date; and (ii) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after
giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements by Borrower of Unreimbursed Amounts. 

“Participant” has the meaning specified in Section 11.06(d). 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of
ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by Borrower or any ERISA Affiliate or to which Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the
case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 

  
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20 

 “Permitted Holder” means (i) Charles E. Davidson, (ii) the
members of the immediate family of Charles E. Davidson, (iii) any trust created for the benefit of the Persons described in clause (i) or (ii) above or any of their estates, or (iv) any Person
that is Controlled by any Person described in clauses (i), (ii) or (iii) above or any Related Party of any such Person described in clauses (i), (ii) or (iii). 

“Permitted Liens” has the meaning specified in Section 8.01. 

“Person” means any natural person, corporation, limited liability company, trust, association, company, partnership,
Governmental Authority or other entity. 
 “Plan” means any “employee benefit plan” (as such term is
defined in Section 3(3) of ERISA) established by Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 

“Platform” has the meaning specified in Section 7.02. 

“Pledge Agreement” has the meaning specified in Section 2.13(d). 

“Pro Forma Property” has the meaning set forth in Section 8.09. 

“Projected Oil and Gas Production” means the projected production of oil or gas or natural gas liquids (measured by
volume unit or BTU equivalent, not sales price) for the term of the contracts or a particular month, as applicable, from properties and interests owned by a Loan Party which are located in or offshore of the United States, as reasonably approved by
the Administrative Agent. 
 “Property Certificate” means a certificate substantially in the form of
Exhibit G attached hereto. 
 “Proved Mineral Interest” means, collectively, (i) all
Mineral Interests which constitute proved developed producing reserves, (ii) all Mineral Interests which constitute proved developed non-producing reserves, and (iii) all Mineral Interests which
constitute proved undeveloped reserves. 
 “Proved Reserves” means ‘Proved Reserves’ as defined in the
Reserve Definitions. 
 “Public Lender” has the meaning specified in Section 7.02. 

“Qualified ECP Guarantor” means, with respect to any Benefiting Guarantor in respect of any Swap Obligation, each Loan
Party that, at the time of the guaranty by such Benefiting Guarantor of, or grant by such Benefiting Guarantor of a security interest or other Lien securing, such Swap Obligation is entered into or becomes effective with respect to, or at any other
time such Benefiting Guarantor is by virtue of such guaranty or grant of a security interest or other Lien otherwise deemed to enter into, such Swap Obligation, constitutes an Eligible Contract Participant and can cause such Benefiting Guarantor to
qualify as an Eligible Contract Participant at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

“Recipient” means (a) the Administrative Agent, (b) any Lender and (c) the L/C Issuer, as applicable.

 “Recognized Value” means the value determined by Lenders attributed to the Mineral Interests in the oil and gas
properties of the Loan Parties from the most recent determination of the Borrowing Base, based upon the discounted present value of the estimated net cash flow to be realized from the production of hydrocarbons from such Mineral Interests and the
other standards specified in Section 4.01 hereof. 

  
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21 

 “Reconciliation Schedule” means a schedule substantially in the form of
Exhibit H attached hereto. 
 “Register” has the meaning specified in
Section 11.06(c). 
 “Registered Public Accounting Firm” has the meaning specified in the
Securities Laws and shall be independent of Borrower as prescribed by the Securities Laws. 
 “Related Parties”
means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 

“Release Date” has the meaning specified in Section 10.10(b)(i). 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the
30 day notice period has been waived. 
 “Request for Credit Extension” means (a) with respect to a Borrowing,
conversion or continuation of Loans, a Loan Notice, and (b) with respect to an L/C Credit Extension, an L/C Application. 

“Required Lenders” means, as of any date of determination, Lenders having at least
66-2/3% of the Aggregate Commitments or, if the Commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to
Section 9.02, Lenders holding in the aggregate at least 66-2/3% of the Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation
in L/C Obligations being deemed “held” by such Lender for purposes of this definition); provided that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Required Lenders. 
 “Reserve Definitions” means, at any time, the Definitions
for Oil and Gas Reserves promulgated by the Society of Petroleum Engineers (or any generally recognized successor) as in effect at such time and acceptable to the Agent. 

“Reserve Report” means a report in form and substance satisfactory to Agent evaluating the oil and gas reserves
attributable to the Mineral Interests of the Loan Parties in certain of their oil and gas properties, which shall at a minimum include the Mortgaged Properties, and which shall, among other things, (a) identify the wells covered thereby,
(b) specify such engineers’ opinions with respect to the total volume of reserves (the “available reserves”) of hydrocarbons (using the terms or categories “proved developed producing reserves,” “proved developed
nonproducing reserves” and “proved undeveloped reserves”) which Borrower has advised such engineers that the Loan Parties have the right to produce for their own account, (c) set forth such engineers’ opinions with respect
to the projected future cash proceeds from the available reserves, discounted for present value at a rate acceptable to Agent, for each calendar year or portion thereof after the date of such findings and data, (d) set forth such
engineers’ opinions with respect to the projected future rate of production of the available reserves, (e) contain such other information as requested by Agent with respect to the projected rate of production, gross revenues, operating
expenses, taxes, capital costs, net revenues and present value of future net revenues attributable to such reserves and production therefrom, and (f) contain a statement of the price and escalation parameters, procedures and assumptions upon
which such determinations were based. 
 “Responsible Officer” means the chief executive
officer, president, chief financial officer, treasurer, assistant treasurer or controller of a Loan Party and, solely for purposes of (a) notices given 

  
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22 

 
pursuant to Article II, any other officer of the applicable Loan Party so designated by any of the foregoing officers in a notice to Agent, and (b) delivery of the certificates
pursuant to Section 5.01(a)(iii), the secretary or any assistant secretary of a Loan Party. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have
been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with
respect to any capital stock or other Equity Interest of 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 such capital stock or other Equity Interest or on account of any return of capital to Borrower’s stockholders, partners or members (or the equivalent Person thereof). 

“Sanctioned Country” means, at any time, a country or territory which is itself the subject or target of any Sanctions
(including, at the time of the Second Amendment to this Agreement, Cuba, Iran, North Korea, Sudan and Syria). 
 “Sanctioned
Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC, the U.S. Department of the Treasury or the U.S. Department of State, (b) any Person operating, organized
or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b). 

“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to
time by the U.S. government, including those administered by OFAC, the U.S. Department of the Treasury or the U.S. Department of State. 

“Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002. 

“Scotiabank” means The Bank of Nova Scotia, a financial institution organized under the laws of Canada. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Secured Cash Management Agreement” means any Cash Management Agreement that is entered into by and
between Borrower or any Subsidiary and any Cash Management Party. 
 “Secured Parties” means, collectively,
Administrative Agent, the Lenders, L/C Issuer, the beneficiaries of each indemnification obligation undertaken by any Loan Party under any Loan Documents, and the permitted successors and assigns of each of the foregoing, the Swap Lenders and the
Cash Management Parties. 
 “Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of 1934,
Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the Public Company Accounting Oversight Board, as each of the foregoing may be amended and in
effect on any applicable date hereunder. 
 “Security Agreement” has the meaning specified in
Section 2.13(c). 

  
 CREDIT AGREEMENT – Page
23 

 “Senior Notes” means any unsecured Indebtedness of Borrower (and any
unsecured Guarantees thereof by the Guarantors) in an aggregate principal amount not exceeding $2,100,000,000. 

“Solvent” means, as to any Person at any time, that (a) the fair value of the property of such Person is greater
than the total amount of such Person’s liabilities (including contingent liabilities), (b) the present fair saleable value of all of the property of such Person is not less than the amount that will be required to pay the probable
liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities
mature, and (d) such Person is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as the
amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Subsidiary” of a Person means a corporation, partnership, limited liability company or other business entity of which
a majority of the Equity Interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at the time
beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to
“Subsidiaries” shall refer to a Subsidiary or Subsidiaries of Borrower. 
 “Subsidiary Pledge Agreement”
has the meaning specified in Section 2.13(e). 
 “Subsidiary Security Agreement” has the
meaning specified in Section 2.13(e). 
 “Swap Contract” means (a) any and all rate
swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, forward sale of production, equity or equity index swaps or options, bond or bond price or
bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap
transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such
transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published
by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”),
including any such obligations or liabilities under any Master Agreement; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants
of the Borrower or the Subsidiaries shall be a Swap Contract. “Swap Contract” shall include any agreement, contract or transaction that constitutes a ‘swap’ within the meaning of Section 1a(47) of the Commodity Exchange Act.
Notwithstanding the foregoing, ‘Swap Contract’ shall not include any agreement or obligation to sell, at an index-based price, any commodity that is intended to be physically settled. 

“Swap Lender” means any Person that entered into a Swap Contract with Borrower or any Subsidiary before or while such
Person was a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Contract. 

  
 CREDIT AGREEMENT – Page
24 

 “Swap Obligation” means, with respect to any Loan Party, any obligation
to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act, including any such obligation comprised of a guaranty or a security interest
or other Lien. 
 “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into
account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such
termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap
Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a
Lender). 
 “Synthetic Lease Obligation” means the monetary obligation of a Person under a so-called synthetic, off-balance sheet or tax retention lease. 

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

“Tested Swap Contracts” has the meaning set forth in Section 8.09. 

“Texaco Lien” means a Lien securing obligations relating to plugging, replugging and abandonment of oil and gas wells
and injection and disposal wells acquired from Texaco Exploration and Production, Inc. pursuant to documentation dated as of March 11, 1997, relating to properties of Borrower known as the West Cote Blanche Bay properties. 

“Threshold” has the meaning set forth in Section 8.09. 

“Title Indemnity Agreement” means a title indemnity from Borrower regarding title to the Mineral Interests of the Loan
Parties in the Mortgaged Properties included in the Borrowing Base. 
 “Total Outstandings” means the aggregate
Outstanding Amount of all Loans and all L/C Obligations. 
 “Type” means, with respect to a Loan, its character as a
Base Rate Loan or a Eurodollar Rate Loan. 
 “Unfunded Pension Liability” means the excess of a Pension Plan’s
benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the
applicable plan year. 
 “United States” and “U.S.” mean the United States of America. 

“Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i). 

“Withholding Agent” means the Borrower and the Administrative Agent. 

  
 CREDIT AGREEMENT – Page
25 

 “Wexford ULC Obligations” means any obligations which Grizzly Holdings,
Inc. (a Subsidiary Controlled by Borrower) may owe to Grizzly Oil Sands Inc. (an entity Controlled by Wexford Capital LP) arising by virtue of the fact that both Grizzly Holdings, Inc. and Grizzly Oil Sands Inc. are owners of Equity Interests in
Grizzly Oil Sands ULC, a corporation formed under the laws of Alberta, Canada. 
 “Write-Down and Conversion Powers”
means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country,
which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

1.02. Other Interpretive Provisions. With reference to this Agreement and each other Loan Document,
unless otherwise specified herein or in such other Loan Document: 
 (a)    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,
(i) any definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented
or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors
and assigns, (iii) the words “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any
particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which such
references appear, (v) any reference to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such Law and any reference to any Law or regulation shall, unless otherwise specified,
refer to such Law or regulation as amended, modified or supplemented from time to time, and (vi) 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. 
 (b)    In the
computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word
“through” means “to and including.” 
 (c)    Section headings herein and in the other Loan
Documents are included for convenience of reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 

(d)    For purposes of Section 9.01, a breach of a financial covenant contained in
Section 7.12 shall be deemed to have occurred as of any date of reasonable determination thereof by the Agent on or after the last date of any specified measuring period, regardless of when the financial statements or the
Compliance Certificate reflecting such breach are delivered to the Agent and the Lenders. 
 1.03.
Accounting Terms. 
 (a)    Generally. All accounting terms not specifically or
completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP
applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. 

  
 CREDIT AGREEMENT – Page
26 

 (b)    Changes in GAAP. If at any time any change in GAAP would affect
the computation of any financial ratio or requirement set forth in any Loan Document, and Borrower or the Majority Lenders shall so request, Agent, Lenders and Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the
original intent thereof in light of such change in GAAP (subject to the approval of Borrower and the Majority Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP
prior to such change therein and (ii) Borrower shall provide to Agent and Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of
such ratio or requirement made before and after giving effect to such change in GAAP. 
 1.04. Rounding. Any
financial ratios required to be maintained by Borrower pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio
is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 

1.05. Times of Day. Unless otherwise specified, all references herein to times of day shall be
references to Central time (daylight or standard, as applicable). 
 1.06. Letter of Credit
Amounts. Unless otherwise specified herein the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of
Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such
Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 

ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS 

2.01. Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans
(each such loan, a “Loan”) to Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such
Lender’s Commitment; provided, however, that after giving effect to any Borrowing, (a) the Total Outstandings shall not exceed the Aggregate Commitments, and (b) the aggregate Outstanding Amount of the Loans of any Lender,
plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions
hereof, Borrower may borrow under this Section 2.01, prepay under Section 2.04, and reborrow under this Section 2.01. Loans may be Base Rate Loans or Eurodollar Rate
Loans, as further provided herein. 
 2.02. Borrowings, Conversions and Continuations of Loans.

 (a)    Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate
Loans shall be made upon Borrower’s irrevocable notice to Agent, which may be given by telephone. Each such notice must be received by Agent not later than 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of,
conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans, whereupon Agent shall give prompt notice to

  
 CREDIT AGREEMENT – Page
27 

 
Lenders of such request and, in the case of Eurodollar Rate Loans, determine whether the requested Interest Period is acceptable to all of them. In the case of Eurodollar Rate Loans, not later
than 12:00 p.m., three (3) Business Days before the requested date of such Borrowing, conversion or continuation, Agent shall notify Borrower (which notice may be by telephone) whether or not the requested Interest Period has been
consented to by all Lenders. Each telephonic notice by Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to Agent of a written Loan Notice, appropriately completed and signed by a Responsible
Officer of Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $250,000 in excess thereof. Except as provided in Sections 2.03(c), each
Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether Borrower is requesting a
Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the
principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If
Borrower fails to specify a Type of Loan in a Loan Notice or if Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic
conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate
Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. 

(b)    Following receipt of a Loan Notice, Agent shall promptly notify each Lender of the amount of its Applicable
Percentage of the applicable Loans, and if no timely notice of a conversion or continuation is provided by Borrower, Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the preceding subsection.
In the case of a Borrowing, each Lender shall make the amount of its Loan available to Agent in immediately available funds at Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Loan Notice.
Upon satisfaction of the applicable conditions set forth in Section 5.02 (and, if such Borrowing is the initial Credit Extension, Section 5.01), Agent shall make all funds so received available to
Borrower in like funds as received by Agent either by (i) crediting the account of Borrower on the books of Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to
(and acceptable to) Agent by Borrower; provided, however, that if, on the date the Loan Notice with respect to such Borrowing is given by Borrower, there are L/C Borrowings outstanding, then the proceeds of such Borrowing first, shall
be applied, to the payment in full of any such L/C Borrowings, and second, shall be made available to Borrower as provided above. 

(c)    During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans
without the consent of the Majority Lenders, and, during the existence of a Default, the Majority Lenders may demand that any or all of the then outstanding Eurodollar Rate Loans be converted immediately to Base Rate Loans and Borrower agrees to pay
all amounts due under Section 3.05 in accordance with the terms thereof due to any such conversion. 

(d)    Agent shall promptly notify Borrower and Lenders of the interest rate applicable to any Interest Period for
Eurodollar Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, Agent shall notify Borrower and Lenders of any change in Agent’s prime rate used in determining the Base Rate promptly following
the public announcement of such change. 

  
 CREDIT AGREEMENT – Page
28 

 (e)    After giving effect to all Borrowings, all conversions of Loans from
one Type to the other, and all continuations of Loans as the same Type, there shall not be more than six (6) Interest Periods in effect with respect to Loans. 

(f)    Credit Extensions under the Existing Credit Agreement. 

(i)    On the Closing Date: 

(A)    Borrower shall pay all accrued and unpaid fees that are outstanding under the Existing Credit
Agreement; 
 (B)    each “Base Rate Loan” and “Eurodollar Rate Loan” outstanding
under the Existing Credit Agreement shall be deemed to be continued as existing Loans under this Agreement and not as a novation; 

(C)    any Letters of Credit outstanding under the Existing Credit Agreement shall be deemed issued under
this Agreement; and 
 (D)    the Existing Credit Agreement and the commitments thereunder shall be
superseded by this Agreement. 
 (ii)    It is the intent of the parties hereto that this Agreement not
constitute a novation of the obligations and liabilities existing under the Existing Credit Agreement or evidence repayment of any such obligations and liabilities and that this Agreement amend and restate in its entirety the Existing Credit
Agreement and re-evidence the obligations of Borrower outstanding thereunder. To the extent not amended and restated as of the Closing Date, the Loan Documents executed in connection with the Existing Credit
Agreement and in effect prior to the Closing Date (the “Existing Loan Documents”) shall continue in full force and effect, are hereby ratified, reaffirmed and confirmed in all respects, and shall, for the avoidance of doubt,
constitute “Loan Documents” under this Agreement. The terms of the Loan Documents that correspond to the Existing Loan Documents that have been amended and restated as of the Closing Date shall govern for any period occurring on or after
the Closing Date, and the terms of such Existing Loan Documents prior to their amendment and restatement shall govern for any period beginning before the Closing Date and ending on the day immediately preceding the Closing Date. In furtherance of
the foregoing, (i) each reference in any Loan Document to the “Credit Agreement”, any other Loan Document that is being amended and restated as of the Closing Date, “thereunder”, “thereof” or words of like import,
is hereby amended, mutatis mutandis, as applicable in the context, to be a reference to, and shall thereafter mean, this Agreement or such other amended and restated Loan Document, as applicable in the context (as each may be amended, modified or
supplemented and in effect from time to time) and (ii) the definition of any term defined in any Loan Document by reference to the terms defined in the “Credit Agreement” or any other Loan Document that is being amended and restated
as of the Closing Date is hereby amended to be defined by reference to the defined term in this Agreement or such other amended and restated Loan Document, as applicable (as each may be amended, modified or supplemented and in effect from time to
time). 
 (iii)    In connection with the foregoing clause (ii), (A) the Borrower releases, waives and
discharges any claims or causes of action which it may have as of the Closing Date against the Exiting Lenders arising under the Existing Credit Agreement or any of the other Loan Documents (as defined in the Existing Credit Agreement) or relating
to their performance thereunder and (B) the Agent, the Existing Lenders and the Lenders waive any breach of or 

  
 CREDIT AGREEMENT – Page
29 

 
default under Section 2.13 or 7.15 of the Existing Credit Agreement (but such waiver does not constitute a waiver of any breach of or default under Section 2.13 or
7.15 of this Agreement, after giving effect to the amendment and restatement of the Existing Credit Agreement into this Agreement). 

(iv)    Concurrently with the Closing Date, each Lender that is not an Existing Lender and each Lender
whose Commitment exceeds its “Commitment” (as defined in the Existing Credit Agreement) under the Existing Credit Agreement shall be deemed to have (i) purchased the “Commitments” of the Exiting Lenders and the
“Commitments” of the Lenders to the extent that such “Commitments” exceed their Commitments hereunder and/or (ii) increased its “Commitment” in a manner determined by the Agent so that after giving effect to the
foregoing, the Commitment of each Lender will be as set forth on Schedule 2.01. Each Exiting Lender and Lender agrees that the provisions of the form of Assignment and Assumption attached hereto as
Exhibit D shall apply to it as applicable depending on whether it is the assignee or assignor of such “Commitments” as applicable. Each party hereto agrees to execute an Assignment and Assumption or related
ancillary documentation to give effect to the foregoing if requested by the Agent. 
 (v)    For
avoidance of doubt, in connection with the foregoing clause (iv), the Loans (as defined in the Existing Credit Agreement) of the Existing Lenders under the Existing Credit Agreement shall be reallocated among the Lenders under this Agreement in
proportion with the Commitments of the Lenders as set forth on Schedule 2.01 and any Exiting Lender is released of its “Commitment” under the Existing Credit Agreement. 

(vi)    For avoidance of doubt, unless otherwise specified, all participations and other indebtedness,
obligations and liabilities outstanding under the Existing Credit Agreement immediately prior to the Effective Date shall continue to constitute participations, and other indebtedness, obligations and liabilities under this Agreement. 

(vii)    Each party hereto hereby waives any requirements for notice and consent required to give effect to
such reallocations referenced in the foregoing clauses (iv) through (vi). 
 2.03. Letters of
Credit. (a) The Letter of Credit Commitment. 
 (i)    Subject to the terms and conditions
set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the other Lenders set forth in this Section 2.03, (1) from time to time on any Business Day during the period from the Closing Date until
the L/C Expiration Date, to issue Letters of Credit for the account of Borrower or its Subsidiaries, and to amend or extend Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to honor drawings under
the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of Borrower or its Subsidiaries and any drawings thereunder; provided that after giving effect to any L/C Credit
Extension with respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the Aggregate Commitments, (y) the aggregate Outstanding Amount of the Loans of any Lender, plus such Lender’s Applicable Percentage of
the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s Commitment, and (z) the Outstanding Amount of the L/C Obligations shall not exceed the L/C Sublimit. Each request by Borrower for the issuance or amendment of a
Letter of Credit shall be deemed to be a representation by Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and
conditions hereof, Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been
drawn upon and reimbursed. 

  
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30 

 (ii)    The L/C Issuer shall not issue any Letter of Credit,
if: 
 (A)    the expiry date of such requested Letter of Credit would occur more than twelve
(12) months after the date of issuance or last extension, unless the Majority Lenders have approved such expiry date; or 

(B)    the expiry date of such requested Letter of Credit would occur after the L/C Expiration Date, unless
all the Lenders have approved such expiry date. 
 (iii)    The L/C Issuer shall not be under any
obligation to issue any Letter of Credit if: 
 (A)    any order, judgment or decree of any Governmental
Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any
Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with
respect to such Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or
expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 

(B)    the issuance of such Letter of Credit would violate one or more applicable policies of the L/C
Issuer; 
 (C)    except as otherwise agreed by Agent and the L/C Issuer, such Letter of Credit is in an
initial stated amount less than $100,000; 
 (D)    such Letter of Credit is to be denominated in a
currency other than Dollars or Canadian dollars; 
 (E)    unless specifically provided for in this
agreement, such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder; or 

(F)    a default of any Lender’s obligations to fund under Section 2.03(c)
exists or any Lender is at such time a Defaulting Lender hereunder, unless the L/C Issuer has entered into satisfactory arrangements with Borrower, such Lender or all other Lenders to eliminate the L/C Issuer’s risk with respect to such Lender.

 (iv)    The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C
Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 

(v)    The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it
and the documents associated therewith, and the L/C Issuer shall have all of 

  
 CREDIT AGREEMENT – Page
31 

 
the benefits and immunities (A) provided to Agent in Article X with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it
or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” or “Agent” as used in Article X included the L/C Issuer with respect to such acts or
omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 
 (b)    Procedures for
Issuance and Amendment of Letters of Credit. 
 (i)    Each Letter of Credit shall be issued or
amended, as the case may be, upon the request of Borrower delivered to the L/C Issuer (with a copy to Agent) in the form of a L/C Application, appropriately completed and signed by a Responsible Officer of Borrower. Such L/C Application must be
received by the L/C Issuer and Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or
date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such L/C Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested
Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any
drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as the L/C Issuer may reasonably require. In the case of a request for an amendment
of any outstanding Letter of Credit, such L/C Application shall specify in form and detail satisfactory to the L/C Issuer (w) the Letter of Credit to be amended; (x) the proposed date of amendment thereof (which shall be a Business Day);
(y) the nature of the proposed amendment; and (z) such other matters as the L/C Issuer may reasonably require. Additionally, Borrower shall furnish to the L/C Issuer and Agent such other documents and information pertaining to such requested
Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or Agent may reasonably require. 

(ii)    Promptly after receipt of any L/C Application at the address set forth in
Section 11.02 for receiving L/C Applications and related correspondence, the L/C Issuer will confirm with Agent (by telephone or in writing) that Agent has received a copy of such L/C Application from Borrower and, if not,
the L/C Issuer will provide Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Lender, Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or amendment of the applicable
Letter of Credit, that one or more applicable conditions in Article V shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of
Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each Letter of Credit,
each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Applicable Percentage times the
amount of such Letter of Credit. 
 (iii)    Promptly after its delivery of any Letter of Credit or any
amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to Borrower and Agent a true and complete copy of such Letter of Credit or amendment. 

  
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32 

 (c)    Drawings and Reimbursements; Funding of Participations. 

(i)    Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such
Letter of Credit, the L/C Issuer shall notify Borrower and Agent thereof. Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”) (if Borrower shall
have received notice prior to 9:00 a.m. on such date, or, if such notice has not been received by Borrower prior to such time on such date, then not later than 11:00 a.m. on the following Business Day after Borrower receives such notice),
Borrower shall reimburse the L/C Issuer through Agent in an amount equal to the amount of such drawing. If Borrower fails to so reimburse the L/C Issuer by such time, Agent shall promptly notify each Lender of the Honor Date, the amount of the
unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof. In such event, Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on
the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized
portion of the Aggregate Commitments and the conditions set forth in Section 5.02 (other than the delivery of a Loan Notice). Any notice given by the L/C Issuer or Agent pursuant to this
Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 

(ii)    Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make
funds available to Agent for the account of the L/C Issuer at the Administrative Agent’s Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by
Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Loan to Borrower in such amount. Agent shall remit the funds so
received to the L/C Issuer. 
 (iii)    With respect to any Unreimbursed Amount that is not fully
refinanced by a Borrowing of Base Rate Loans because the conditions set forth in Section 5.02 cannot be satisfied or for any other reason, Borrower shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in
the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment to Agent for the
account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its
participation obligation under this Section 2.03. 
 (iv)    Until each Lender
funds its Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount
shall be solely for the account of the L/C Issuer. 
 (v)    Each Lender’s obligation to make Loans
or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including
(A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the L/C Issuer, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any
other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Loans pursuant to this Section 2.03(c) is subject to the conditions
set forth in Section 5.02 (other than delivery by Borrower of a Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of Borrower to reimburse the L/C Issuer for the amount of any
payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 

  
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33 

 (vi)    If any Lender fails to make available to Agent for
the account of the L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), the L/C Issuer
shall be entitled to recover from such Lender (acting through Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at
a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the L/C Issuer in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by
the L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Loan included in the relevant Borrowing or L/C Advance in respect of the
relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Lender (through Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent manifest error. 

(d)    Repayment of Participations. 

(i)    At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from
any Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or
interest thereon (whether directly from Borrower or otherwise, including proceeds of Cash Collateral applied thereto by Agent), Agent will distribute to such Lender its Applicable Percentage thereof (appropriately adjusted, in the case of interest
payments, to reflect the period of time during which such Lender’s L/C Advance was outstanding) in the same funds as those received by Agent. 

(ii)    If any payment received by Agent for the account of the L/C Issuer pursuant to
Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each
Lender shall pay to Agent for the account of the L/C Issuer its Applicable Percentage thereof on demand of Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the
Federal Funds Rate from time to time in effect. The obligations of Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e)    Obligations Absolute. The obligation of Borrower to reimburse the L/C Issuer for each drawing under each
Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following: 

(i)    any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan
Document; 
 (ii)    the existence of any claim, counterclaim, setoff, defense or other right that
Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in
connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

  
 CREDIT AGREEMENT – Page
34 

 (iii)    any draft, demand, certificate or other document
presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document
required in order to make a drawing under such Letter of Credit; 
 (iv)    any payment by the L/C Issuer
under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a
trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or
any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or 

(v)    any other circumstance or happening whatsoever, whether or not similar to any of the foregoing,
including any other circumstance that might otherwise constitute a defense available to, or a discharge of, Borrower or any Subsidiary. 
 Borrower shall
promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with Borrower’s instructions or other irregularity, Borrower will promptly notify the L/C
Issuer. Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 

(f)    Role of L/C Issuer. Each Lender and Borrower agree that, in paying any drawing under a Letter of Credit, the
L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or
the authority of the Person executing or delivering any such document. None of the L/C Issuer, Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for
(i) any action taken or omitted in connection herewith at the request or with the approval of Lenders or the Required Lenders or the Majority Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or
willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. Borrower hereby assumes all risks of the acts or omissions of any
beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude Borrower’s pursuing such rights and remedies as it may have against the
beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer, shall be liable or responsible for any of the
matters described in clauses (i) through (v) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, Borrower may have a claim against the L/C Issuer,
and the L/C Issuer may be liable to Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by Borrower which damages have been determined by a court of competent jurisdiction in a
final and non-appealable judgment to have been caused by the L/C Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the
presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear
on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or
assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. 

  
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 (g)    Cash Collateral. Upon the request of Administrative Agent,
(i) if the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of the L/C Expiration Date, any L/C Obligation for any reason remains
outstanding, Borrower shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations. Sections 2.04, 2.14, 2.15 and 9.02(c) set forth certain additional
requirements to deliver Cash Collateral hereunder. Borrower hereby grants to Administrative Agent, for the benefit of the L/C Issuer and Lenders, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the
foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts at Administrative Agent. 

(h)    Applicability of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer and Borrower when a Letter
of Credit is issued, the rules of the ISP shall apply to each standby Letter of Credit. 
 (i)    L/C Fees.
Borrower shall pay to Agent for the account of the Lenders (to be paid by Agent to each Lender (other than any Defaulting Lender) in accordance with its Applicable Percentage) an aggregate fee (the “L/C Fee”) for the issuance
of each Letter of Credit in an amount per annum equal to the greater of the Applicable Rate times the maximum face amount of the Letter of Credit determined in accordance with Section 1.06 or $1,000. Such L/C Fee shall be
payable prior to the issuance of each Letter of Credit and thereafter in quarterly installments on the first Business Day after the end of each March, June, September and December, commencing on the first such date to occur after the issuance of
such Letter of Credit, on the L/C Expiration Date and thereafter on demand. If there is any change in the Applicable Rate during any quarter, the L/C Fee shall be computed and multiplied by the Applicable Rate separately for each period during such
quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon request of the Majority Lenders, while any Event of Default exists, all accrued and unpaid L/C Fees shall bear interest at the Default
Rate. 
 (j)    Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. Borrower shall pay
directly to the L/C Issuer for its own account a fronting fee for the issuance or extension of each Letter of Credit equal to the greater of $500 or 0.1875% per annum times the maximum face amount of such Letter of Credit determined in accordance
with Section 1.06. Such fronting fee shall be due and payable upon the issuance or extension of each Letter of Credit. In addition, Borrower shall pay directly to the L/C Issuer for its own account the customary issuance,
presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such individual customary fees and standard costs and charges are due and
payable on demand and are nonrefundable. 
 (k)    Conflict with Issuer Documents. In the event of any conflict
between the terms of the Loan Documents and the terms of any Issuer Documents, the terms hereof shall control. 

(l)    Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding
hereunder is in support of any obligations of, or is for the account of, a Subsidiary, Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit. Borrower hereby acknowledges that the
issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of Borrower, and that Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. 

2.04. Prepayments. 

(a)    Borrower may, upon notice to Agent, at any time or from time to time voluntarily prepay Loans in whole or in part
without premium or penalty; provided that (i) such notice must be received by 

  
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36 

 
Agent not later than 11:00 a.m. (A) three (3) Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) one (1) Business Day prior to any date of prepayment of Base
Rate Loans; (ii) any prepayment of Eurodollar Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of $100,000
or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if
Eurodollar Rate Loans are to be repaid, the Interest Period(s) of such Loans. Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice
is given by Borrower, Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest
on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of Lenders in accordance with their respective Applicable Percentages. 

(b)    If for any reason (including without limitation those arising from a reduction of the Borrowing Base described in
Section 4.05 or a reduction of the Aggregate Elected Commitment Amount) the Total Outstandings at any time exceed the Aggregate Commitments, Borrower shall within three (3) Business Days prepay Loans and/or Cash
Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.04(b) unless
there remains any such excess after the prepayment in full of the Loans; and provided further, however, that the provisions of Section 4.06 shall control in the event the reason for such excess is due to the
redetermination of the Borrowing Base pursuant to Section 4.02 or Section 4.03. 

(c)    Borrower may make a prepayment of Loans pursuant to Section 4.06. 

2.05. Termination or Reduction of Commitments; Increase and Reduction of Aggregate Elected Commitment
Amount. 
 (a)    Borrower may, upon notice to Agent, terminate the Aggregate Commitments, or from time to time
permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by Agent not later than 11:00 a.m. five (5) Business Days prior to the date of termination or reduction, (ii) any such partial
reduction shall be in an aggregate amount of $500,000 or any whole multiple of $500,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments
hereunder, the Total Outstandings would exceed the Aggregate Commitments, (iv) if, after giving effect to any reduction of the Aggregate Commitments, the L/C Sublimit exceeds the Aggregate Commitments, the L/C Sublimit shall be automatically
reduced by the amount of such excess, and (v) upon any reduction of the Aggregate Commitments that would otherwise result in the Aggregate Commitments being less than the Aggregate Elected Commitment Amount, the Aggregate Elected Commitment
Amount shall be automatically reduced (ratably among the Lenders in accordance with each Lender’s Applicable Percentage) so that they equal the Aggregate Commitments as so reduced. Agent will promptly notify the Lenders of any such notice of
termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination
of the Aggregate Commitments shall be paid on the effective date of such termination. 

  
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37 

 (b)    Increases, Reductions and Terminations of Aggregate Elected
Commitment Amount. 
 (i)    Subject to the conditions set forth in
Section 2.05(b)(ii), the Borrower may increase the Aggregate Elected Commitment Amount then in effect by increasing the Elected Commitment Amount of one or more existing Lenders (each such Lender, an “Increasing
Lender”) and/or causing one or more Persons reasonably acceptable to the Administrative Agent (it being agreed that any Affiliate of a Lender shall be deemed acceptable to the Administrative Agent) and that at such time are not Lenders
to become a Lender (each such Person that is not at such time a Lender and becomes a Lender, an “Additional Lender”). Notwithstanding anything to the contrary contained in this Agreement, in no case shall an Additional Lender
be the Borrower, an Affiliate of the Borrower or a natural person. 
 (ii)    Any increase in the
Aggregate Elected Commitment Amount shall be subject to the following additional conditions: 

(A)    such increase (if not in connection with a periodic or special redetermination of the Borrowing
Base) shall not be less than $15,000,000 unless the Administrative Agent otherwise consents, and no such increase shall be permitted if after giving effect thereto the Aggregate Elected Commitment Amount exceeds the Borrowing Base then in effect;

 (B)    following any periodic or special redetermination of the Borrowing Base, the Borrower may not
increase the Aggregate Elected Commitment Amount more than once before the next periodic or special redetermination of the Borrowing Base (for the sake of clarity, all increases in the Aggregate Elected Commitment Amount effective on a single date
shall be deemed a single increase in the Aggregate Elected Commitment Amount for purposes of this Section 2.05(b)(ii)(B)); 

(C)    no Default shall have occurred and be continuing on the effective date of such increase or would
result therefrom; 
 (D)    on the effective date of such increase, no Eurodollar Rate Loans shall be
outstanding or if any Eurodollar Rate Loans are outstanding, then the effective date of such increase shall be the last day of the Interest Period in respect of such Eurodollar Rate Loans unless the Borrower pays compensation required by
Section 3.05; 
 (E)    no Lender’s Elected Commitment Amount may be
increased without the consent of such Lender; 
 (F)    if the Borrower elects to increase the Aggregate
Elected Commitment Amount by increasing the Elected Commitment Amount of one or more Lenders, the Borrower and each such Increasing Lender shall execute and deliver to the Administrative Agent a certificate substantially in the form of Exhibit
L (an “Elected Commitment Increase Certificate”) and the Borrower shall pay any applicable fees as may have been agreed to between the Borrower, such Increasing Lender and/or the Administrative Agent; 

(G)    if the Borrower elects to increase the Aggregate Elected Commitment Amount by causing one or more
Additional Lenders to become a party to this Agreement, then the Borrower and each such Additional Lender shall execute and deliver to the Administrative Agent a certificate substantially in the form of Exhibit M (an
“Additional Lender Certificate”), together with an Administrative Questionnaire and a processing and recordation fee of $3,500 for each Additional Lender, which shall be payable by the

  
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38 

 
Borrower to the Administrative Agent unless waived by the Administrative Agent, and the Borrower shall (1) if requested by any Additional Lender, deliver a Note payable to the order of such
Additional Lender in accordance with Section 2.10(a), and otherwise duly completed and (2) pay any applicable fees as may have been agreed to between the Borrower, any Additional Lender and/or the Administrative Agent;
and 
 (H)    the Borrower shall, or shall cause the Guarantors to, execute and deliver such other
documents and/or certificates, if any, as reasonably requested by the Administrative Agent in connection with such increase. 

(iii)    Subject to acceptance and recording thereof pursuant to
Section 2.05(b)(iv), from and after the effective date specified in the Elected Commitment Increase Certificate or the Additional Lender Certificate (or if any Eurodollar Rate Loans are outstanding, then the last day of the
Interest Period in respect of such Eurodollar Rate Loans, unless the Borrower has paid compensation required by Section 3.05): (A) the amount of the Aggregate Elected Commitment Amount shall be increased as set forth
therein, and (B) in the case of an Additional Lender Certificate, any Additional Lender party thereto shall be a party to this Agreement and have the rights and obligations of a Lender under this Agreement and the other Loan Documents. In
addition, each Increasing Lender and Additional Lender shall be deemed to have purchased a pro rata portion of the Outstanding Amount of the Loans (and participation interests in the Outstanding Amount of all L/C Obligations) of each of the other
Lenders (and such Lenders hereby agree to sell and to take all such further action to effectuate such sale) such that each Lender (including any Increasing Lender and any Additional Lender) shall hold its Applicable Percentage of the Outstanding
Amount of the Loans (and participation interests in the Outstanding Amount of all L/C Obligations) after giving effect to the increase in the Aggregate Elected Commitment Amount and the resulting modification of each Lender’s Applicable
Percentage pursuant to Section 2.05(b)(v). 
 (iv)    Upon its receipt of a
duly completed Elected Commitment Increase Certificate or an Additional Lender Certificate, executed by the Borrower and the Lender or by the Borrower and the Additional Lender party thereto, as applicable, the processing and recordation fee
referred to in Section 2.05(b)(ii)(G), if any, the Administrative Questionnaire referred to in Section 2.05(b)(ii) and the compensation required by Section 3.05, if
applicable, the Administrative Agent shall accept such Elected Commitment Increase Certificate or Additional Lender Certificate and record the information contained therein in the Register required to be maintained by the Administrative Agent
pursuant to Section 11.06(c). No increase in the Aggregate Elected Commitment Amount shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this
Section 2.05(b)(iv). 
 (v)    Upon any increase in the Aggregate Elected
Commitment Amount pursuant to this Section 2.06(b), (A) each Lender’s Applicable Percentage shall be automatically deemed amended to the extent necessary so that each such Lender’s Applicable Percentage equals the
percentage of the Aggregate Elected Commitment Amount represented by such Lender’s Elected Commitment Amount, in each case after giving effect to such increase, (B) Schedule 2.01 to this Agreement shall be deemed amended to reflect
the Elected Commitment Amount of any Increasing Lender and any Additional Lender, and any changes in the Lenders’ respective Applicable Percentages pursuant to the foregoing clause (A), and (C) the Borrower shall execute and deliver new
Notes to the extent required under Section 2.10(a). 
 (vi)    The Borrower may
from time to time terminate or reduce the Aggregate Elected Commitment Amount; provided that (A) each reduction of the Aggregate Elected Commitment 

  
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39 

 
Amount shall be in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000 and (B) the Borrower shall not reduce the Aggregate Elected Commitment Amount if, after
giving effect to any concurrent prepayment of the Loans in accordance with Section 2.04, the Total Outstandings would exceed the Aggregate Elected Commitment Amount. 

(vii)    The Borrower shall notify the Administrative Agent of any election to terminate or reduce the
Aggregate Elected Commitment Amount under Section 2.05(b)(vi) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly
following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.05(b)(vii) shall be irrevocable. Each reduction of
the Aggregate Elected Commitment Amount shall be made ratably among each Lender’s Elected Commitment Amount in accordance with each Lender’s Applicable Percentage (and Schedule 2.01 shall be deemed amended to reflect such amendments
to each Lender’s Elected Commitment Amount and the Aggregate Elected Commitment Amount). 

(viii)    Upon any redetermination or other adjustment in the Borrowing Base pursuant to this Agreement
that would otherwise result in the Borrowing Base becoming less than the Aggregate Elected Commitment Amount, the Aggregate Elected Commitment Amount shall be automatically reduced (ratably among the Lenders in accordance with each Lender’s
Applicable Percentage) so that they equal such redetermined Borrowing Base (and Schedule 2.01 shall be deemed amended to reflect such amendments to each Lender’s Elected Commitment Amount and the Aggregate Elected Commitment Amount). 

(ix)    Contemporaneously with any increase in the Borrowing Base pursuant to this Agreement, if
(A) the Borrower elects to increase the Aggregate Elected Commitment Amount and (B) each Lender has consented to such increase in its Elected Commitment Amount, then the Aggregate Elected Commitment Amount shall be increased (ratably among
the Lenders in accordance with each Lender’s Applicable Percentage) by the amount requested by the Borrower without the requirement that any Lender deliver an Elected Commitment Increase Certificate, and Schedule 2.01 shall be deemed
amended to reflect such amendments to each Lender’s Elected Commitment Amount and the Aggregate Elected Commitment Amount. The Administrative Agent shall record the information regarding such increases in the Register required to be maintained
by the Administrative Agent pursuant to Section 11.06(c). 
 2.06. Repayment of Loans.
Borrower shall repay to Lenders on the Maturity Date the aggregate principal amount of Loans outstanding on such date. 

2.07. Interest. 

(a)    Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the
outstanding principal amount thereof for each Interest Period at a rate per annum equal to the lesser of (1) the Eurodollar Rate for such Interest Period plus the Applicable Rate or (2) the Maximum Rate; and (ii) each Base Rate
Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the lesser of (1) the Base Rate plus the Applicable Rate or (2) the Maximum Rate. 

(b)    (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods),
whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

  
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40 

 (ii)    If any amount (other than principal of any Loan)
payable by Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Majority Lenders, such amount shall thereafter
bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(iii)    Upon the request of the Majority Lenders, while any Event of Default exists, Borrower shall pay
interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(iv)    Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be
due and payable upon demand. 
 (c)    Interest on each Loan shall be due and payable in arrears on each Interest
Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding
under any Debtor Relief Law. 
 2.08. Fees. In addition to certain fees described in subsections (i) and
(j) of Section 2.03: 
 (a)    Commitment Fee. Borrower shall pay to Agent for the
account of the Lenders (to be paid by Agent to each Lender (other than any Defaulting Lender) in accordance with its Applicable Percentage) an aggregate commitment fee in an amount per annum equal to the Applicable Rate times the actual daily
amount by which the Aggregate Commitments exceeds the sum of (i) the Outstanding Amount of Loans and (ii) the Outstanding Amount of L/C Obligations. The commitment fee shall accrue at all times during the Availability Period, including at
any time during which one or more of the conditions in Article V is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first
such date to occur after the Closing Date, and on the Maturity Date. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and
multiplied by the Applicable Rate on a per diem basis separately for each period during such quarter that such Applicable Rate was in effect. 

(b)    Agent’s Fees. Borrower shall pay to Agent for Agent’s own account, fees in the amounts and at the
times specified in the Fee Letter. Unless otherwise specified in the Fee Letter, such fees shall be fully earned when paid and shall be nonrefundable for any reason whatsoever. 

(c)    Lenders’ Upfront Fees. On the Closing Date, Borrower shall pay to Agent, for the account of the Lenders
(to be paid by Agent to each Lender (other than any Defaulting Lender) in accordance with its Applicable Percentage or as otherwise specified in the Fee Letter), an aggregate upfront fee in the amount provided in the Fee Letter. Such upfront fees
are for the credit facilities committed by Lenders under this Agreement and are fully earned on the date paid. The upfront fee paid to each Lender is solely for its own account and is nonrefundable for any reason whatsoever. 

2.09. Computation of Interest and Fees. All computations of interest for Base Rate Loans when the Base Rate is
determined by Agent’s “prime rate” shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue
on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for 

  
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41 

 
the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.11(a),
bear interest for one day. Each determination by Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 

2.10. Evidence of Debt. 

(a)    The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such
Lender and by Agent in the ordinary course of business. The accounts or records maintained by Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by Lenders to Borrower and the interest and
payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the
accounts and records maintained by any Lender and the accounts and records of Agent in respect of such matters, the accounts and records of Agent shall control in the absence of manifest error. Upon the request of any Lender made through Agent,
Borrower shall execute and deliver to such Lender (through Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if
applicable), amount and maturity of its Loans and payments with respect thereto. 
 (b)    In addition to the accounts
and records referred to in subsection (a), each Lender and Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit. In the event of any
conflict between the accounts and records maintained by Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of Agent shall control in the absence of manifest error. 

2.11. Payments Generally; Agent’s Clawback. 

(a)    (i) General. All payments to be made by Borrower shall be made without condition or deduction for any
counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by Borrower hereunder shall be made to Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative
Agent’s Office in Dollars and in immediately available funds not later than 12:00 noon on the date specified herein. Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such
payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by Agent after 12:00 noon shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue
to accrue. If any payment to be made by Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case
may be. 
 (ii)    On each date when the payment of any principal, interest or fees are due hereunder or
under any Note, Borrower agrees to maintain on deposit in an ordinary checking account maintained by Borrower with Agent (as such account shall be designated by Borrower in a written notice to Agent from time to time, the
“Borrower Account”) an amount sufficient to pay such principal, interest or fees in full on such date. Borrower hereby authorizes Agent (A) to deduct automatically all principal, interest or
fees when due hereunder or under any Note from the Borrower Account, and (B) if and to the extent any payment of principal, interest or fees under this Agreement or any Note is not made when due to deduct any such amount from any or all of the
accounts of Borrower maintained at Agent. Agent agrees to provide written notice to Borrower of any automatic deduction made pursuant to this Section 2.11(a)(ii) showing in

  
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reasonable detail the amounts of such deduction. Lenders agree to reimburse Borrower based on their Applicable Percentage for any amounts deducted from such accounts in excess of amounts due
hereunder and under any other Loan Documents. 
 (iii)    Funding by Lenders; Presumption by
Agent. Unless Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Borrowing) that such
Lender will not make available to Agent such Lender’s share of such Borrowing, Agent may assume that such Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a
Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to Borrower a corresponding
amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to Agent, then the applicable Lender and Borrower severally agree to pay to Agent forthwith on demand such corresponding amount in immediately
available funds with interest thereon, for each day from and including the date such amount is made available to Borrower to but excluding the date of payment to Agent, at (A) in the case of a payment to be made by such Lender, the greater of
the Federal Funds Rate and a rate determined by Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by Agent in connection with the foregoing and
(B) in the case of a payment to be made by Borrower, the interest rate applicable to Base Rate Loans. If Borrower and such Lender shall pay such interest to Agent for the same or an overlapping period, Agent shall promptly remit to Borrower the
amount of such interest paid by Borrower for such period. If such Lender pays its share of the applicable Borrowing to Agent, then the amount of its share of such applicable Borrowing so paid shall constitute such Lender’s Loan included in such
Borrowing. Any payment by Borrower shall be without prejudice to any claim Borrower may have against a Lender that shall have failed to make such payment to Agent. 

(iv)    Payments by Borrower; Presumptions by Agent. Unless Agent shall have received notice from
Borrower prior to the date on which any payment is due to Agent for the account of the Lenders or the L/C Issuer hereunder that Borrower will not make such payment, Agent may assume that Borrower has made such payment on such date in accordance
herewith and may, in reliance upon such assumption, distribute to Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of Lenders or the L/C Issuer, as the case may
be, severally agrees to repay to Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to
but excluding the date of payment to Agent, at the greater of the Federal Funds Rate and a rate determined by Agent in accordance with banking industry rules on interbank compensation. 

A notice of Agent to any Lender or Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent
manifest error. 
 (b)    Failure to Satisfy Conditions Precedent. If any Lender makes available to Agent funds
for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to Borrower by Agent because the conditions to the applicable Credit Extension set forth in Article
V are not satisfied or waived in accordance with the terms hereof, Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(c)    Obligations of Lenders Several. The obligations of Lenders hereunder to make Loans, to fund participations
in Letters of Credit and to make payments pursuant to Section 11.04(c) are several and 

  
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not joint. The failure of any Lender to make any Loan, to fund any such participation or to make any payment under Section 11.04(c) on any date required hereunder shall
not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, purchase its participation or to make its payment under
Section 11.04(c): 
 (d)    Funding Source. Nothing herein shall be deemed to obligate
any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

2.12. Sharing of Payments. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of the Loans made by it, or the participations in L/C Obligations held by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Loans or
participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify Agent of such fact, and (b) purchase (for cash at face
value) participations in the Loans and subparticipations in L/C Obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance
with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them, provided that: 

(i)    if any such participations or subparticipations are purchased and all or any portion of the payment
giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii)    the provisions of this Section shall not be construed to apply to (x) any payment made by
Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender) or (y) any payment obtained by a Lender as consideration for the assignment
of or sale of a participation in any of its Loans or subparticipations in L/C Obligations to any assignee or participant, other than to Borrower or any Subsidiary thereof (as to which the provisions of this Section shall apply). 

Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation
pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Loan Party in the amount of such
participation. 
 2.13. Collateral. 

(a)    Mortgaged Properties. The payment and performance of the Notes and all of the other Obligations hereunder and
under the Loan Documents shall be secured by a first and superior Lien, subject to Permitted Liens, against the entire Mineral Interest of each Loan Party in the Mortgaged Properties pursuant to the terms of one or more deeds of trust (each an
“Oil and Gas Mortgage”), in favor of Agent for the ratable benefit of the Secured Parties which shall be in form and substance satisfactory to Agent. Within thirty (30) days (or such longer time as determined by Agent) after Agent
advises Borrower of (i) the failure for all oil and gas properties under mortgage to Agent to constitute at least 85% of the Recognized Value of all Proved Mineral Interests evaluated in the most recent Reserve Report delivered to Agent and
(ii) the percentage shortfall thereof, Borrower shall execute or cause the other Loan Parties to execute Oil and Gas Mortgages covering additional Proved Mineral Interests having an aggregate Recognized Value sufficient to eliminate the
deficiency. 

  
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 (b)    Title Assurances. Within thirty (30) days (or such longer
time as determined by Agent) after Agent advises Borrower that the oil and gas properties for which it has received title assurances reasonably acceptable to Agent is less than 80% of the Recognized Value of all Proved Mineral Interests evaluated in
the most recent Reserve Report delivered to the Agent, Borrower shall provide to the Agent additional title opinions and/or other title information and data reasonably acceptable to Agent so that the Agent shall have received reasonably acceptable
title assurances for at least 80% of the Recognized Value of all Proved Mineral Interests evaluated in such Reserve Report. 

(c)    Personal Property of Borrower. The payment and performance of the Notes and all of the other Obligations
hereunder and under the other Loan Documents shall also be secured by a first priority Lien, subject to Permitted Liens, against substantially all personal property of Borrower other than Equity Interests owned by Borrower pursuant to the terms of
an agreement (the “Security Agreement”) in favor of Agent for the ratable benefit of the Secured Parties which shall be in form and substance satisfactory to Agent. Equity Interests owned by Borrower shall not be covered by
the Security Agreement. Instead, such Equity Interests shall be pledged pursuant to the Pledge Agreement described in Section 2.13(d). 

(d)    Equity Interests of Subsidiaries and Designated Investment Entities. The payment and performance of the
Notes and all of the other Obligations hereunder and under the Loan Documents shall be secured by a first priority Lien against the following Equity Interests owned by Borrower pursuant to the terms of an agreement (the “Pledge
Agreement”), in favor of Agent for the ratable benefit of the Secured Parties which shall be in form and substance satisfactory to Agent: 

(i)    100% of the issued and outstanding Equity Interest of each existing and future Domestic Subsidiary;

 (ii)    65% of the issued and outstanding Equity Interest of each existing and future Foreign
Subsidiary; and 
 (iii)    to the extent permitted by the charter, bylaws and stockholders’
agreement (or corresponding documents and agreements in the case of entities other than corporations) of such Designated Investment Entity, the entire Equity Interest owned by Borrower in each Designated Investment Entity. 

(e)    Concerning Domestic Subsidiaries. The payment and performance of the Notes and all of the other Obligations
hereunder and under the Loan Documents (i) shall be unconditionally guaranteed by each Domestic Subsidiary pursuant to a Guaranty which shall be satisfactory in form and substance to Agent, (ii) shall be, subject to the exceptions set
forth in or contemplated by this Section 2.13, secured by a first priority Lien (subject only to Permitted Liens) against those oil and gas properties of such Domestic Subsidiaries having a Recognized Value of not less than
85% of the Recognized Value of all Proved Mineral Interests evaluated in the most recent Reserve Report pursuant to one or more Oil and Gas Mortgages, (iii) shall be secured by a first priority Lien, subject to Permitted Liens, against
substantially all personal property other than Equity Interests owned by such Domestic Subsidiaries, pursuant to the terms of one or more agreements (each a “Subsidiary Security Agreement”) in favor of Agent for the ratable benefit of the
Secured Parties which shall be satisfactory in form and substance to Agent, and (iv) shall be secured by a first priority Lien against any Equity Interests of the types described in Section 2.13(d)(i), (ii) and (iii), which such Domestic
Subsidiaries may now own or hereafter acquire pursuant to the terms of one or more agreements (each a “Subsidiary Pledge Agreement”) in favor of Agent for the ratable benefit of the Secured Parties which shall be in form and substance
satisfactory to Agent. 

  
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 If any such Equity Interests are evidenced by issued and outstanding physical certificates, Borrower shall
deliver such certificates and appropriate stock powers simultaneously with its execution and delivery of the Pledge Agreement or Subsidiary Pledge Agreement, as applicable. 

(f)    Certain Exclusions. Notwithstanding any provision in this Agreement or any other Loan Document to the
contrary, in no event is any Building (as defined in the applicable Flood Insurance Regulation) or Manufactured (Mobile) Home (as defined in the applicable Flood Insurance Regulation) included in the definition of “Mortgaged Property” and
no Building or Manufactured (Mobile) Home is hereby encumbered by this Agreement or any other Loan Document. As used herein, “Flood Insurance Regulations” means (a) the National Flood Insurance Act of 1968, (b) the Flood
Disaster Protection Act of 1973, (c) the National Flood Insurance Reform Act of 1994 (amending 42 USC 4001 et seq.), and (d) the Flood Insurance Reform Act of 2004, in each case as now or hereafter in effect or any successor statute thereto and
including any regulations promulgated thereunder. 
 (g)    Utica Shale Properties. Promptly, but in any event
within one-hundred twenty (120) days after the Closing Date (or such longer time as Agent shall approve in its sole discretion), (i) each Loan Party shall grant in favor of Agent for the ratable benefit
of the Secured Parties Oil and Gas Mortgages creating a first and superior Lien, subject to Permitted Liens, against substantially all of the Mineral Interest of such Loan Party as of the Closing Date in its oil and gas properties located in or
around the Utica shale region, including without limitation its oil and gas properties in Ohio, and (ii) such Loan Party shall also deliver to Agent such opinions of counsel (including, if so requested, title opinions addressed to Agent) or
other evidence of title as Agent shall reasonably deem necessary or appropriate to verify (A) its title to the oil and gas properties which are subject to such Oil and Gas Mortgages, and (B) the validity and perfection of the Liens created
by such Oil and Gas Mortgages. 
 2.14. Cash Collateral. At any time that there shall exist a
Defaulting Lender, within one Business Day following the written request of Administrative Agent or the L/C Issuer (with a copy to Administrative Agent), Borrower shall Cash Collateralize the L/C Issuer’s Fronting Exposure with respect to such
Defaulting Lender (determined after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount. 

(a)    Grant of Security Interest. Borrower, and to the extent provided by any Defaulting Lender, such Defaulting
Lender, hereby grants to Administrative Agent, for the benefit of the L/C Issuer, and agrees to maintain, a first priority security interest in all such Cash Collateral as security for the Defaulting Lenders’ obligation to fund participations
in respect of L/C Obligations, to be applied pursuant to clause (b) below. If at any time Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than Administrative Agent and the L/C Issuer as
herein provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, Borrower will, promptly upon demand by Administrative Agent, pay or provide to Administrative Agent additional Cash Collateral in an amount
sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender). 

(b)    Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided
under this Section 2.14 or Section 2.15 in respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations in respect of L/C
Obligations (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for
herein. 

  
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46 

 (c)    Termination of Requirement. Cash Collateral (or the appropriate
portion thereof) provided to reduce the L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.14 following (i) the elimination of the applicable
Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (ii) the determination by Administrative Agent and the L/C Issuer that there exists excess Cash Collateral; provided that, subject to
Section 2.15, the Person providing Cash Collateral and the L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations and provided, further, that to the
extent that such Cash Collateral was provided by Borrower, such Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents. 

2.15. Defaulting Lenders. 

(a)    Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any
Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i)    Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any
amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of Majority Lenders and Required Lenders. 

(ii)    Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts
received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article IX or otherwise) or received by the Administrative Agent from a Defaulting
Lender pursuant to Section 11.08 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the
Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C Issuer hereunder; third, to Cash Collateralize the L/C Issuer’s Fronting Exposure with respect to
such Defaulting Lender in accordance with Section 2.14; fourth, as the Borrower may request (so long as no Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its
portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (x) satisfy
such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the L/C Issuer’s future Fronting Exposure with respect to such Defaulting Lender with respect to
future Letters of Credit issued under this Agreement, in accordance with Section 2.14; sixth, to the payment of any amounts owing to the Lenders or the L/C Issuer as a result of any judgment of a court of competent
jurisdiction obtained by any Lender or the L/C Issuer against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default exists, to the payment of any
amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and
eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Obligations in respect of which such Defaulting
Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 5.02 were satisfied or waived, such
payment shall be applied solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed
to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations 

  
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47 

 
are held by the Lenders pro rata in accordance with the Commitments without giving effect to Section 2.15(a)(iv). Any payments, prepayments or other amounts paid or
payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.15(a)(ii) shall be deemed paid to and redirected by such Defaulting
Lender, and each Lender irrevocably consents hereto. 
 (iii)    Certain Fees. 

(A)    No Defaulting Lender shall be entitled to receive any commitment fee under
Section 2.08(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting
Lender). 
 (B)    Each Defaulting Lender shall be entitled to receive L/C Fees for any period during
which that Lender is a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.14. 

(C)    With respect to any fee not required to be paid to any Defaulting Lender pursuant to clause
(A) or (B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s
participation in L/C Obligations that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the L/C Issuer the amount of any such fee otherwise payable to such
Defaulting Lender to the extent allocable to the L/C Issuer’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

(iv)    Reallocation of Participations to Reduce Fronting Exposure. All or any part of such
Defaulting Lender’s participation in L/C Obligations shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages (calculated without regard to such
Defaulting Lender’s Commitment) but only to the extent that (x) the conditions set forth in Section 5.02 are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise notified the
Administrative Agent at such time, the Borrower shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (y) such reallocation does not cause such
Non-Defaulting Lender’s Applicable Percentage of the Outstanding Amount to exceed such Non-Defaulting Lender’s Commitment. No reallocation hereunder shall
constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a
result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(v)    Cash Collateral. If the reallocation described in clause (iv) above cannot, or can only
partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the L/C Issuer’s Fronting Exposure in accordance with the procedures set forth in
Section 2.14. 
 (b)    Defaulting Lender Cure. If the Borrower, the Administrative
Agent and the L/C Issuer agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth
therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other 

  
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48 

 
Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held pro rata by
the Lenders in accordance with the Commitments (without giving effect to Section 2.15(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect
to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting
Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

(c)    New Letters of Credit. So long as any Lender is a Defaulting Lender, the L/C Issuer shall not be required to
issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. 

ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY 

3.01. Taxes. 

(a)    Defined Terms. For the purposes of this Section 3.01, the term “Lender”
includes the L/C Issuer and the term “applicable law” includes FATCA. 
 (b)    Payments Free of Taxes.
Any and all payments by or on account of any obligation of Borrower under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith
discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall
timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by Borrower shall be increased as necessary so that after such
deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have
received had no such deduction or withholding been made. 
 (c)    Payment of Other Taxes by Borrower. Borrower
shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of Agent timely reimburse it for the payment of, any Other Taxes. 

(d)    Indemnification by Borrower. Borrower shall indemnify each Recipient, within 10 days after demand therefor,
for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such
Recipient and any penalties, interest and reasonable expenses arising therefrom or with respect thereto (other than any such penalties, interest and expenses resulting from such Recipient’s gross negligence or willful misconduct provided that
for purposes of clarification, contesting the payment of any such Indemnified Taxes shall not be considered gross negligence or willful misconduct), whether or not such Indemnified 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 Borrower by a Lender or the L/C Issuer (with a copy to Agent), or by Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be
conclusive absent manifest error. 
 (e)    Indemnification by the Lenders. Each Lender shall severally indemnify
Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the 

  
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49 

 
extent that Borrower has not already indemnified Agent for such Indemnified Taxes and without limiting the obligation of Borrower to do so), (ii) any Taxes attributable to such Lender’s
failure to comply with the provisions of Section 11.06(d) relating to the maintenance of any Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by
Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to
the amount of such payment or liability delivered to any Lender by Agent shall be conclusive absent manifest error. Each Lender hereby authorizes Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document
or otherwise payable by Agent to the Lender from any other source against any amount due to Agent under this paragraph (e). 

(f)    Evidence of Payments. As soon as practicable after any payment of Taxes by Borrower to a Governmental
Authority pursuant to this Section 3.01, Borrower shall deliver to 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 Agent. 
 (g)    Status of Lenders. 

(i)    Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to
payments made under any Loan Document shall deliver to Borrower and Agent, at the time or times reasonably requested by Borrower or Agent, such properly completed and executed documentation reasonably requested by Borrower or Agent as will permit
such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by Borrower or the Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested
by Borrower or the Agent as will enable Borrower or the Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences,
the completion, execution and submission of such documentation (other than such documentation set forth in Section 3.01(g)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such
completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

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

 (A)    any Lender that is a U.S. Person shall deliver to Borrower and Agent on or prior to the date on
which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), executed originals of IRS Form W-9 certifying that such Lender is
exempt from U.S. federal backup withholding tax; 
 (B)    any Foreign Lender shall, to the extent it is
legally entitled to do so, deliver to Borrower and the Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time
thereafter upon the reasonable request of Borrower or the Agent), whichever of the following is applicable: 
  

	 	(1)	 (i) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a
party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN 

  
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50 

	 	
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable
payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article
of such tax treaty; 

  

	 	(2)	(ii) executed originals of IRS Form W-8ECI; 

  

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

  

	 	(4)	(iv) to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS
Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit K-2 or Exhibit K-4, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are
claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit K-3 on behalf of each such direct and
indirect partner; 

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

(D)    if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding
Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to Borrower and Agent
at the time or times prescribed by law and at such time or times reasonably requested by Borrower or Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional
documentation reasonably requested by Borrower or Agent as may be necessary for Borrower and Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to
determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

  
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51 

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

(h)    Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that
it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 3.01 (including by the payment of additional amounts pursuant to this Section 3.01), it shall pay
to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying
party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (h) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event
that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (h), in no event will the indemnified party be required to pay any amount to an indemnifying
party pursuant to this paragraph (h) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to
indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require
any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

(i)    Survival. Each party’s obligations under this Section 3.01 shall survive the
resignation or replacement of Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document and the occurrence of the
Release Date. 
 3.02. Illegality. If any Lender determines that any Law has made it unlawful, or that any
Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Eurodollar Rate Loans, or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental
Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to Borrower through Agent, any obligation of such
Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended until such Lender notifies Agent and Borrower that the circumstances giving rise to such determination no longer exist. Upon
receipt of such notice, Borrower shall, upon demand from such Lender (with a copy to Agent), prepay (on a pro rata basis) or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate Loans, either on the last day of the Interest
Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans. Upon any such prepayment or conversion,
Borrower shall also pay accrued interest on the amount so prepaid or converted and all amounts due under Section 3.05 in accordance with the terms thereof due to such prepayment or conversion. 

3.03. Inability to Determine Rates. If Agent determines in connection with any request for a Eurodollar Rate Loan
or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and
reasonable means do not exist for determining the Eurodollar Base Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan, or (c) the Eurodollar Base Rate for any requested Interest Period with respect to a
proposed Eurodollar 

  
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52 

 
Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, Agent will promptly so notify Borrower and each Lender. Thereafter, the obligation of Lenders to
make or maintain Eurodollar Rate Loans shall be suspended until Agent (upon the instruction of the Majority Lenders) revokes such notice. Upon receipt of such notice, Borrower may revoke any pending request for a Borrowing of, conversion to or
continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 

3.04. Increased Costs. 

(a)    Increased Costs Generally. If any Change in Law shall: 

(i)    impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or
similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Eurodollar Rate) or the L/C Issuer; 

(ii)    subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described
in clauses (b) through (d) of the definition of Excluded Taxes and (C) Other Connection Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital
attributable thereto; or 
 (iii)    impose on any Lender or the L/C Issuer or the London interbank
market any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or
maintaining any Loan or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender, such L/C Issuer or such other Recipient of participating in, issuing or maintaining any Letter of Credit (or of maintaining its
obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender, L/C Issuer or other Recipient hereunder (whether of principal, interest or any other amount) then, upon request
of such Lender, L/C Issuer or other Recipient, Borrower will pay to such Lender, L/C Issuer or other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender, L/C Issuer or other Recipient, as the case may be,
for such additional costs incurred or reduction suffered. 
 (b)    Capital Requirements. If any Lender or the
L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or liquidity requirements, has or
would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments
of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C
Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect
to capital adequacy), then, upon request of such Lender or the L/C Issuer, from time to time Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer
or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered. 

  
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 (c)    Certificates for Reimbursement. A certificate of a Lender or
the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to Borrower, shall be
conclusive absent manifest error. Borrower shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d)    Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation
pursuant to the foregoing provisions of this Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation; provided that Borrower shall not be required to compensate a Lender or the L/C
Issuer pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than six months prior to the date that such Lender or the L/C Issuer, as the case may be, notifies Borrower of the Change in Law
giving rise to such increased costs or reductions, and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then
the six-month period referred to above shall be extended to include the period of retroactive effect thereof). 

3.05. Compensation for Losses. Upon demand of any Lender (with a copy to Agent) from time to time, Borrower
shall promptly compensate such Lender for and hold such Lender harmless from any actual loss, cost or expense incurred by it as a result of: 

(a)    any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the
last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(b)    any failure by Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow,
continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by Borrower; or 

(c)    any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a
result of a request by the Borrower pursuant to Section 11.14; 
 including any loss of anticipated profits and any loss or
expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. Borrower shall also pay any customary administrative fees charged
by such Lender in connection with the foregoing. For purposes of calculating amounts payable by Borrower to Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at
the Eurodollar Base Rate used in determining the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar
Rate Loan was in fact so funded. 
 3.06. Mitigation Obligations; Replacement of Lenders. 

(a)    Designation of a Different Lending Office. If any Lender requests compensation under
Section 3.04, or Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or the L/C Issuer pursuant to
Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then such Lender or the L/C Issuer shall, as applicable, (at the request of Borrower) use reasonable efforts to designate a
different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender or the L/C

  
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Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or
eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed cost or expense and would not
otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be. Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection with any such designation or assignment. 

(b)    Replacement of Lenders. If any Lender requests compensation under Section 3.04, or
if Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in each case, such Lender has declined or is
unable to designate a different Lending Office in accordance with Section 3.06(a), or if any Lender is a Defaulting Lender or a Non-Consenting Lender, then Borrower may replace such
Lender in accordance with Section 11.14. 
 3.07. Survival. All of Borrower’s
obligations under this Article III shall survive termination of the Aggregate Commitments and the occurrence of the Release Date. 

ARTICLE IV. BORROWING BASE 

4.01. Borrowing Base. (a) The Borrowing Base shall represent the approval in their sole discretion of
the Required Lenders or all Lenders, as applicable, of Agent’s determination of the maximum loan amount that may be supported by the oil and gas properties of the Loan Parties included in the most recent Reserve Report furnished to Agent, based
upon Lenders’ in-house evaluation of such properties. The determination of the Borrowing Base will be made in accordance with then-current practices, economic and pricing parameters, methodology,
assumptions, and customary procedures and standards established by each Lender from time to time for its petroleum industry customers including without limitation (a) an analysis of such reserve and production data with respect to the Mineral
Interests of the Loan Parties in all of their oil and gas properties, including the Mortgaged Properties, as is provided to Lenders in accordance herewith, (b) an analysis of the assets, liabilities, cash flow, business, properties, prospects,
management and ownership of each Loan Party and its Affiliates, and (c) such other credit factors consistently applied as each Lender customarily considers in evaluating similar oil and gas credits. Borrower and Lenders acknowledge that
(i) due to the uncertainties of the oil and gas extraction process, the properties included in any Reserve Report are not subject to evaluation with a high degree of accuracy and are subject to potential rapid deterioration in value, and
(ii) for this reason and the difficulties and expenses involved in liquidating and collecting against the Mortgaged Properties, the determination of the maximum loan amount with respect to the properties included in any Reserve Report contains
an equity cushion (market value in excess of loan amount) which Borrower acknowledges to be essential for the adequate protection of Lenders. 

(b)    Until next determined as provided herein, the amount of the Borrowing Base as of the Eleventh Amendment Effective
Date shall be $1,200,000,000. 
 4.02. Periodic Determinations of Borrowing Base. 

(a)    On or before each April 1 and October 1, commencing April 1, 2014, until the Maturity Date, Borrower
shall furnish to Agent a Reserve Report, which shall set out as of the six (6) months ending January 1 and July 1, respectively, the Proved Mineral Interests attributable to the Mortgaged Properties and such other oil and gas
properties of the Loan Parties as Borrower may select. Each October 1 Reserve Report may be prepared by Borrower’s own engineers, who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with
the procedures used in the 

  
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immediately preceding Reserve Report prepared by independent reservoir engineers. Each April 1 Reserve Report shall be a complete report prepared by independent reservoir engineers
reasonably acceptable to Agent relating to the Proved Mineral Interests attributable to the Mortgaged Properties and such other oil and gas properties of the Loan Parties as Borrower may select. In addition, Borrower may submit with each
April 1 Reserve Report a separate Reserve Report prepared by Borrower’s own engineers, who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the Reserve Report
prepared by independent reservoir engineers submitted therewith, covering such other oil and gas properties of the Loan Parties as Borrower may select. Upon receipt of each such Reserve Report, Agent shall make a determination of the Borrowing Base
and the Monthly Reduction Amount which shall become effective upon approval by the Required Lenders or all Lenders in accordance with the procedure set forth in Section 4.04 and subsequent written notification from Agent to
Borrower, and which, subject to the other provisions of this Agreement shall be the Borrowing Base and the Monthly Reduction Amount until the effective date of the next redetermination as provided in this Article IV. 

(b)    In the event that Borrower does not furnish to Agent a Reserve Report by the dates specified in
Section 4.02(a), then Agent and Lenders may nonetheless redetermine the Borrowing Base and redesignate the Borrowing Base from time to time thereafter in their sole discretion until Agent receives the relevant Reserve
Report, whereupon Agent and Lenders shall redetermine the Borrowing Base as otherwise specified in this Article IV. 

4.03. Special Determinations of Borrowing Base. 

(a)    Special determinations of the Borrowing Base may be requested by Agent or Borrower not more than one time per
calendar year each. If any special determination is requested by Borrower, it shall be accompanied by internally-prepared engineering data for the oil and gas reserves included in the Mortgaged Properties, and such additional properties as Borrower
may select, brought forward from the most recent Reserve Report furnished by Borrower to Agent. If any special determination is requested by Agent, Borrower will provide Agent with internally prepared engineering data for the oil and gas reserves
included in the Mortgaged Properties, and such additional properties as Borrower may select, updated from the most recent Reserve Report furnished to Agent, as soon as is reasonably practicable following the request. The determination whether to
increase or decrease the Borrowing Base and the Monthly Reduction Amount shall then be made in accordance with the standards set forth in Section 4.01 hereof and the procedures set forth in
Section 4.04 hereof. In the event of any special determination of the Borrowing Base pursuant to this Section, Agent in the exercise of its discretion may suspend the next regularly scheduled determination of the Borrowing
Base. 
 (b)    Borrower shall give Agent ten (10) Business Days prior written notice of any proposed amendment,
modification or termination of any Swap Contract, or any other action which Borrower or any Subsidiary proposes to take in connection with any Swap Contract which could impact its Recognized Value in the then current Borrowing Base. Agent reserves
the right to redetermine the Borrowing Base. As the result of any such action, and any such redetermination shall not be considered a special determination requested by Agent within the meaning of the first sentence of
Section 4.03(a). If requested by Borrower, Agent shall inform Borrower by email within such ten (10) Business Day period of the likely reduction of the Borrowing Base as the result of any action described in the first
sentence of this Section 4.03(b). 
 4.04. General Procedures With Respect to
Determination of Borrowing Base. Agent shall propose a redetermined Borrowing Base and a Monthly Reduction Amount within sixty (60) days following receipt by Agent and Lenders of a Reserve Report and other applicable information. After
having received notice of such proposal from Agent, Required Lenders (or all Lenders in the event of a 

  
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proposed increase in the Borrowing Base or decrease in the Monthly Reduction Amount) shall have fifteen (15) days to agree or disagree with such proposal. At the end of such fifteen
(15) day period, if Required Lenders (or all Lenders, in the event of a proposed increase of the Borrowing Base or decrease of the Monthly Reduction Amount) shall not have communicated their approval or disapproval, such silence shall be deemed
an approval, and Agent’s proposal shall be the new Borrowing Base and Monthly Reduction Amount. If, however, Required Lenders (or any Lender, in the event of a proposed increase of the Borrowing Base or decrease of the Monthly Reduction Amount)
notify Agent within such fifteen (15) days of their disapproval, Agent and Required Lenders (or all Lenders, in the event of a proposed increase of the Borrowing Base or decrease of the Monthly Reduction Amount) shall agree on a new Borrowing
Base and Monthly Reduction Amount. If the Required Lenders (or all Lenders, in the event of a proposed increase of the Borrowing Base or decrease of the Monthly Reduction Amount) cannot agree on the amount of the Borrowing Base or Monthly Reduction
Amount, as applicable, within seven (7) days after Agent has been notified of their disapproval, then Agent shall propose a new redetermined Borrowing Base and a new Monthly Reduction Amount within fifteen (15) days after the end of such
seven (7) day period and the foregoing process shall be repeated. This process shall be repeated until the Required Lenders (or all Lenders, in the event of a proposed increase of the Borrowing Base or decrease of the Monthly Reduction Amount)
agree on a new Borrowing Base and Monthly Reduction Amount. In taking the above actions, Agent and Lenders shall act in accordance with their normal and customary procedures for evaluating oil and gas reserves and other related assets as such exist
at that particular time and will otherwise act in their sole discretion. Further, each Lender may consider such other credit factors as it deems appropriate which are consistent with its normal and customary procedures for evaluating oil and gas
reserves. Without limiting the foregoing, Lenders may exclude any oil and gas reserves or portion of production therefrom or any income from any other property from the Borrowing Base, at any time, because title information is not satisfactory or
such oil and gas reserves are not Mortgaged Properties. 
 4.05. Borrowing Base Reductions. 

(a)    At the time of any periodic or special redetermination of the Borrowing Base, Lenders reserve the right to establish
an amount (the “Monthly Reduction Amount”) by which the Borrowing Base shall be automatically reduced effective on the first day of each successive calendar month until the next Borrowing Base redetermination. Lenders’
determination of the Monthly Reduction Amount shall be made in accordance with the standards specified in Section 4.01 hereof and the procedures specified in Section 4.04 hereof. Initially, the
Monthly Reduction Amount will be set at zero dollars ($0). If the Total Outstandings shall exceed the Borrowing Base solely because of the reduction of the Borrowing Base by the Monthly Reduction Amount, Borrower shall promptly make a single lump
sum payment in an amount sufficient to reduce the Total Outstandings to or below the Borrowing Base. 
 (b)    If any
Swap Contract is terminated or is not fully performed for any reason, the Borrowing Base shall be reduced by the amount of the Recognized Value given such Swap Contract in the then current Borrowing Base as determined by Agent. 

(c)    [Reserved]. 

(d)    The Borrowing Base shall be reduced if the aggregate of Asset Dispositions in any calendar year exceeds 5% of the
then existing Borrowing Base as provided in Section 8.05(h). 
 (e)    In the event of an
issuance of Senior Notes after the Closing Date, then, upon consummation of such issuance, the then effective Borrowing Base shall be reduced by 25% of the principal amount of such Senior Notes offering except to the extent that the proceeds of such
Senior Notes are used to repay, redeem, purchase, repurchase, refinance, defease or otherwise satisfy previously issued Senior Notes, or to the extent that such Senior Notes are issued in exchange for previously issued

  
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Senior Notes, and in each case, to pay accrued and unpaid interest on, and prepayment premiums in respect of, such previously issued Senior Notes and fees and expenses relating to the issuance of
such Senior Notes and such repayment, redemption, purchase, repurchase, refinancing, defeasance, satisfaction or exchange of such previously issued Senior Notes.For avoidance of doubt, the 25% reduction described in this subsection (e) may be
reduced or waived with the consent of Required Lenders. 
 4.06. Borrowing Base Deficiency. 

(a)    If the Total Outstandings exceed the amount of the Borrowing Base because of a periodic or special determination
made pursuant to Section 4.02 or Section 4.03 hereof (or a periodic or special redetermination combined with the Monthly Reduction Amount), then Agent shall notify Borrower of the same (a
“Borrowing Base Deficiency Notice”), and Borrower shall within thirty (30) days following receipt of such Borrowing Base Deficiency Notice elect whether to (i) prepay an amount which would, if prepaid immediately,
reduce the Total Outstandings to the amount of the Borrowing Base, (ii) mortgage (or cause a Guarantor to mortgage) such other oil and gas properties as are acceptable to Lenders, pursuant to security documents acceptable to Agent having
present values which, in the opinion of Lenders, based upon Lenders’ evaluation of the engineering data provided them, taken in the aggregate are sufficient to increase the Borrowing Base to an amount at least equal to the Total Outstandings,
or (iii) do any combination of the foregoing as is acceptable to Agent. If Borrower fails to make an election within thirty (30) days after Borrower’s receipt of the Borrowing Base Deficiency Notice, then Borrower shall be deemed to
have selected the prepayment option specified in clause (i) above. 
 (b)    Borrower shall deliver such
prepayments or mortgages of additional oil and gas properties in accordance with its election (or deemed election) pursuant to Section 4.06(a) as follows: 

(i)    Prepayment Elections. If Borrower elects (or is deemed to have elected) to prepay an amount
in accordance with Section 4.06(a)(i) above, then Borrower may make such prepayment in one installment within forty-five (45) days after Borrower’s receipt of the Borrowing Base Deficiency Notice or in six
(6) equal consecutive monthly installments beginning within forty-five (45) days after Borrower’s receipt of the Borrowing Base Deficiency Notice and continuing on the same day of each month thereafter. 

(ii)    Elections to Mortgage Additional Oil and Gas Properties. If Borrower elects to mortgage
additional oil and gas properties in accordance with Section 4.06(a)(ii) above, then (1) such property shall be acceptable to Agent and Lenders with values determined by Agent and Lenders in accordance with this
Article IV and (2) Borrower or such Guarantor shall execute, acknowledge and deliver to Agent security instruments acceptable to Agent within forty-five (45) days after Borrower’s receipt of the Borrowing Base Deficiency
Notice; provided, however (x) if none of the additional oil and gas properties offered by Borrower are acceptable to Lenders, Borrower shall be deemed to have elected the prepayment option specified
in Section 4.06(a)(i) (and Borrower shall make such prepayment in accordance with Section 4.06(b)(i)); and (y) if the aggregate present values of additional oil and gas properties
which are acceptable to Lenders are insufficient to eliminate the Borrowing Base deficiency, then Borrower shall be deemed to have selected the option specified in Section 4.06(a)(iii) (and Borrower shall make prepayment
and deliver security instruments as provided in Section 4.06(b)(iii)). 

(iii)    Combination Elections. If Borrower elects (or is deemed to have elected) to eliminate the
Borrowing Base deficiency by a combination of prepayment and mortgaging of additional oil and gas properties in accordance with Section 4.06(a)(iii), then within
forty-five (45) days after Borrower’s receipt of the Borrowing Base Deficiency Notice, Borrower shall (or shall cause a Guarantor to) execute, acknowledge and deliver to Agent security

  
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instruments acceptable to Agent covering such additional oil and gas properties and pay Agent the amount by which the Borrowing Base deficiency exceeds the present values of such additional oil
and gas properties (x) in one installment within forty-five (45) days after Borrower’s receipt of the Borrowing Base Deficiency Notice, or (y) six (6) equal consecutive monthly installments beginning within forty-five
(45) days after Borrower’s receipt of the Borrowing Base Deficiency Notice and continuing on the same day of each month thereafter. 

4.07. [Intentionally Omitted]. 

4.08. Mortgage of Additional Properties. Borrower may from time to time upon written notice to Agent propose to
add oil and gas properties of Borrower or any other Loan Party as Mortgaged Properties to be included in the Borrowing Base. Any such proposal shall be accompanied by an internally-prepaid Reserve Report applicable to such properties that conforms
with the requirements of this Agreement and evidence sufficient to establish that Borrower or such other Loan Party, as applicable, has title to such properties. Any such addition shall become effective at such time as (i) Agent, with the
approval of Lenders, has made a determination of the amount by which the Borrowing Base would be increased as the result of such addition, (ii) the conditions set out in Article IV hereof, to the extent they are applicable to such
additional properties, have been satisfied, (iii) if requested by Agent, Agent shall have received an Affidavit of Payment of Trade Bills, Property Certificates, a Title Indemnity Agreement and a Reconciliation Schedule with respect to
such additional properties, (iv) Oil and Gas Mortgages duly executed by the applicable Loan Party have been delivered to Agent, and (v) arrangements satisfactory to Agent have been made with respect to payment of recording fees and taxes,
as applicable. In determining the increase in the Borrowing Base pursuant to this Section, Agent and Lenders shall apply the parameters and other credit factors set forth in this Article IV. A proposal by Borrower pursuant
to this Section 4.08 shall constitute a request for a special determination of the Borrowing Base for purposes of Section 4.03(a). 

ARTICLE V. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 

5.01. Conditions of Initial Credit Extension. The obligation of the L/C Issuer and each Lender to make its
initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent: 

(a)    Agent’s receipt of the following, each of which shall be originals or electronic copies (followed promptly by
originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each
in form and substance satisfactory to Agent and each of the Lenders: 
 (i)    executed counterparts of
this Agreement and those Loan Documents listed on Schedule 5.01, sufficient in number for distribution to Agent, each Lender and Borrower 

(ii)    a Note executed by Borrower in favor of each Lender requesting a Note; 

(iii)    such certificates of resolutions or other action, incumbency certificates and/or other
certificates of Responsible Officers of each Loan Party as Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the
other Loan Documents to which such Loan Party is a party; 

  
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59 

 (iv)    such documents and certifications as Agent may
require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of properties or
the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; 

(v)    a favorable opinion of counsel to the Loan Parties acceptable to Agent addressed to Agent and each
Lender, as to the matters set forth in Exhibit E and such other matters concerning the Loan Parties and the Loan Documents as Agent may reasonably request and in form and substance reasonably satisfactory to Agent; 

(vi)    a certificate of a Responsible Officer of each Loan Party either (A) attaching copies of all
consents, licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and such consents, licenses and approvals
shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required; 

(vii)    a certificate signed by a Responsible Officer of Borrower certifying (A) that the conditions
specified in Sections 5.02(a) and (b) have been satisfied, and (B) that there has been no event or circumstance since December 31, 2012, that has had or could have, either individually or in the aggregate,
a Material Adverse Effect; 
 (viii)    evidence that all insurance required to be maintained by
Section 7.07 hereof has been obtained and is in effect; 
 (ix)    a duly
completed Compliance Certificate as of the last day of the fiscal quarter of Borrower most recently ended prior to the Closing Date, signed by a Responsible Officer of Borrower; 

(x)    a schedule of Swap Contracts then in force and effect; 

(xi)    such other assurances, certificates, documents, consents or opinions as Agent, the L/C Issuer or
the Required Lenders may require. 
 (b)    Any fees required to be paid on or before the Closing Date, including the
upfront fee described in Section 2.08 (c), shall have been paid. 
 (c)    Unless waived by
Agent, Borrower shall have paid all fees, charges and disbursements of counsel to Agent to the extent invoiced prior to or on the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable
estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between Borrower and Agent). 

(d)    The Closing Date shall have occurred on or before December 27, 2013. 

(e)    There shall not have occurred any material disruption or material adverse change in the financial, banking, or
capital markets which Agent deems to materially impair the syndication of this credit facility. 
 Without limiting the generality of the provisions of
Section 10.04, for purposes of determining compliance with the conditions specified in this Section 5.01, each Lender that has signed this Agreement

  
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shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or
satisfactory to a Lender unless Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 

5.02. Conditions to all Credit Extensions. The obligation of each Lender to honor any Request for Credit
Extension (other than a Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurodollar Rate Loans) is subject to the following conditions precedent: 

(a)    The representations and warranties of Borrower and each other Loan Party contained in
Article VI or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of such Credit Extension,
except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 5.02,
the representations and warranties contained in subsections (a) and (b) of Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of
Section 7.01. 
 (b)    No Default shall exist, or would result from such proposed Credit
Extension or from the application of the proceeds thereof. 
 (c)    Agent and, if applicable, the L/C Issuer shall have
received a Request for Credit Extension in accordance with the requirements hereof. 
 (d)    Agent shall have received,
in form and substance satisfactory to it, such other assurances, certificates, documents or consents related to the foregoing as Agent or the Majority Lenders may reasonably require. 

Each Request for Credit Extension (other than a Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of
Eurodollar Rate Loans) submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 5.02(a) and (b) have been satisfied on and as of the date of the applicable Credit
Extension. 
 ARTICLE VI. REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants to Agent and the Lenders that: 

6.01. Existence, Qualification and Power; Compliance with Laws. Each Loan Party and each Subsidiary thereof
(a) if an entity, is duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental
licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) if an entity, is duly
qualified and is licensed and in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license, and (d) is in compliance with all
Laws; except in each case referred to in clause (b)(i), (c) or (d), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

6.02. Authorization; No Contravention. The execution, delivery and performance by each Loan Party of each
Loan Document to which such Person is party, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such 

  
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Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (i) any
Contractual Obligation to which such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries (except for such events as could not reasonably be expected to constitute a Material Adverse Effect) or
(ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Law. Each Loan Party and each Subsidiary thereof is in compliance with all
Contractual Obligations referred to in clause (b)(i), except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

6.03. Governmental Authorization; Other Consents. No approval, consent, exemption, authorization, or other
action by, or notice to, or filing with (each, a “Filing”), any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or
enforcement against, any Loan Party of this Agreement or any other Loan Document other than (i) Filings required by the Loan Documents, (ii) Filings that, if not made or obtained, would not cause a Default hereunder, and could not
reasonably be expected to have a Material Adverse Effect, (iii) Filings that are customarily obtained after the closing of an acquisition of Mineral Interests, and (iv) Filings necessary in connection with the exercise of remedies under
the Loan Documents. 
 6.04. Binding Effect. This Agreement has been, and each other Loan Document, when
delivered hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan
Party, enforceable against each Loan Party that is party thereto in accordance with its terms, except as the enforceability thereof may be limited by (i) applicable bankruptcy, insolvency, moratorium and other similar Laws affecting the
enforcement of creditors’ rights generally and (ii) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 

6.05. Financial Statements; No Material Adverse Effect. 

(a)    The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the
period covered thereby, except as otherwise expressly noted therein; (ii) fairly present in all material respects the financial condition of Borrower and its Subsidiaries as of the date thereof and their results of operations for the period
covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of Borrower
and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness. 

(b)    The unaudited consolidated balance sheets of Borrower and its Subsidiaries dated September 30, 2013, and the
related consolidated statements of income or operations, stockholders’ equity and cash flows for the fiscal quarter ended on that date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby,
except as otherwise expressly noted therein, and (ii) fairly present in all material respects the financial condition of Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby,
subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. 

(c)    Since the date of the Audited Financial Statements, there has been no event or circumstance, either individually or
in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 (d)    The drilling
budget, capital expenditure budget, forecast of production and forecast of cash flows of Borrower and its Subsidiaries delivered pursuant to Section 7.01(c) were prepared in good

  
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faith on the basis of the assumptions stated therein, which assumptions were fair in light of the conditions existing at the time of delivery of such forecasts, and represented, at the time of
delivery, the Borrower’s best estimate of its future financial performance. 
 6.06. Litigation. There are
no actions, suits, proceedings, claims or disputes pending or, to the knowledge of Borrower, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or against any of their
properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) except as specifically disclosed in Schedule 6.06, either individually
or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse Effect, and there has been no material adverse change in the status, or financial effect on any Loan Party or any Subsidiary thereof, of the
matters described on Schedule 6.06. 
 6.07. No Default. No Loan Party is in default under or with
respect to any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the transactions
contemplated by this Agreement or any other Loan Document. 
 6.08. Ownership of Property; Liens. Each
Loan Party (i) has good record and defensible title to the Mineral Interests evaluated in the most recently delivered Reserve Report that are included in the determination of the Borrowing Base, as described in
Section 6.21, and (ii) good title to the personal property used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. The property of each Loan Party is subject to no Liens, other than Permitted Liens. 
 6.09.
Environmental Compliance. Borrower and its Subsidiaries have conducted in the ordinary course of business a review of claims alleging potential liability or responsibility for violation of any Environmental Law on their respective
businesses, operations and properties, and as a result thereof Borrower has reasonably concluded that, except as specifically disclosed in Schedule 6.09, such claims could not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect. 
 6.10. Insurance. The properties of the Loan Parties are insured with financially
sound and reputable insurance companies not Affiliates of any Loan Party, in such amounts (after giving effect to any self-insurance compatible with the following standards; provided the Loan Parties may not
self-insure against, and must have policies of insurance for, business interruption and named windstorm coverage), with such deductibles and covering such risks as are customarily carried by companies engaged
in similar businesses and owning similar properties in localities where Borrower or the applicable Loan Party operates. 

6.11. Taxes. The Loan Parties have filed all Federal and other material tax returns and reports required to be
filed, and have paid all Federal and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good
faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP and those not yet delinquent. There is no proposed tax assessment against Borrower or any Loan Party that would, if
made, reasonably be expected to have a Material Adverse Effect. 
 6.12. ERISA Compliance. 

(a)    Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other
Federal or state Laws. Each Plan that is intended to qualify under 

  
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Section 401(a) of the Code has received a favorable determination letter from the IRS, is entitled to rely on a favorable opinion letter issued to the sponsor of a master or prototype plan
adopted by Borrower or any ERISA Affiliate, or an application for such a letter is currently being processed by the IRS with respect thereto and, to the best knowledge of Borrower, nothing has occurred which would prevent, or cause the loss of, such
qualification. Borrower and each ERISA Affiliate have made all required contributions to each Plan subject to Section 412 of the Code, and no application for a funding waiver or an extension of any amortization period pursuant to
Section 412 of the Code has been made with respect to any Plan. 
 (b)    There are no pending or, to the best
knowledge of Borrower, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or
violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 

(c)    (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded
Pension Liability; (iii) neither Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under
Section 4007 of ERISA); (iv) neither Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would result in such
liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA. 

6.13. Subsidiaries. As of the Closing Date, Borrower has no Subsidiaries other than those specifically disclosed
in Schedule 6.13, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued (and, in the case of Subsidiaries that are corporations, are fully paid and nonassessable) and are owned by a Loan Party in the
amounts specified on Schedule 6.13 free and clear of all Liens other than Permitted Liens. 
 6.14. Margin
Regulations; Investment Company Act. 
 (a)    Borrower is not engaged and will not engage, principally or as one
of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. 

(b)    None of Borrower, any Person Controlling Borrower, or any Subsidiary is or is required to be registered as an
“investment company” under the Investment Company Act of 1940. 
 6.15. Disclosure. Borrower has
disclosed to Agent and Lenders all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected
to result in a Material Adverse Effect. No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party to Agent or any Lender in connection with the transactions
contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to
state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, Borrower represents only that such
information was prepared in good faith based upon assumptions believed to be reasonable at the time; and provided further, that projections concerning volumes attributable to Mineral Interests or wells and production and costs

  
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estimates contained in each Reserve Report are necessarily based upon professional opinions, estimates and projections, and the Loan Parties do not warrant that such estimates and projections
will ultimately prove to have been accurate. 
 6.16. Compliance with Laws. Each Loan Party is in
compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction
or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

6.17. Intellectual Property; Licenses, Etc. The Loan Parties own, or possess the right to use, all
of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights that are reasonably necessary for the operation of their respective businesses, without material conflict
with the rights of any other Person. To the best knowledge of Borrower, no slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed, by any Loan Party infringes
upon any rights held by any other Person. No claim or litigation regarding any of the foregoing is pending or, to the best knowledge of Borrower, threatened, which, either individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect. 
 6.18. Rights in Collateral; Priority of Liens. Borrower and each other Loan
Party own the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens except Permitted Liens. Upon the proper filing of the Oil and Gas Mortgages and UCC financing statements, and the taking of the
other actions required by the Majority Lenders, the Liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected Liens on the Collateral in favor of Agent for the ratable benefit of the Secured
Parties, subject to Permitted Liens. 
 6.19. Concerning the Collateral. The Mortgaged Properties are
described in and covered by the Reserve Reports that have previously been delivered to and relied upon by Agent and Lenders in connection with this Agreement, and the Loan Parties own at least the decimal percentage Mineral Interest in such
properties as specified in such engineering reports. 
 6.20. Swap Contracts. As of the Closing
Date, except as set forth on Schedule 6.20, no Loan Party is a party or subject to any Swap Contract. Each report delivered pursuant to Section 7.02(b) sets forth a true and complete list of (i) all Swap
Contracts of Borrower and each Subsidiary, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net mark to market value thereof, and the counterparty to each such agreement.

 6.21. Engineering Reports. Each Loan Party executing an Oil and Gas Mortgage owns or will own the net
interest and production attributable to the wells and units evaluated in the most recent Reserve Report it has previously furnished to Agent, except such as may result from customary provisions of operating agreements requiring parties thereto to
pay the share of costs of a defaulting party or allowing for the acquisition of the interests of any nonparticipating parties. The ownership of such properties shall not in the aggregate in any material respect obligate such Loan Party to bear costs
and expenses relating to the maintenance, development and operations of such properties in an amount materially in excess of the working interests of such properties as shown in such Reserve Report. Each Loan Party executing an Oil and Gas Mortgage
has paid all royalties payable under the oil and gas leases to which it is an operator, except to those contested in accordance with the terms of the applicable joint operating agreement or otherwise contested in good faith by appropriate
proceedings. Upon delivery of each Reserve Report furnished to Lenders pursuant to Section 7.02(d) hereof, the statements made in the preceding sentences of this Section 6.21 shall be true with
respect to such Reserve Report. 

  
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 6.22. Gas Balancing Agreements and Advance Payment Contracts. As of
the Closing Date, (a) there is no Material Gas Imbalance, and (b) the aggregate amount of all Advance Payments received by any Loan Party under Advance Payment Contracts that have not been satisfied by delivery of production does not
exceed $1,000,000. 
 6.23. Warranties and Collateral Documents. All of the warranties of all Loan Parties set
forth in the Collateral Documents, including without limitation those with respect to performance of obligations under oil, gas or mineral leases, sale of production and operation of properties mortgaged to Agent, are true and correct in all
material respects. 
 6.24. Tax Shelter Regulations. Borrower does not intend to treat Loans and/or Letters of
Credit as being a “reportable transaction” (within the meaning of Treasury Regulation Section 1.6011-4). In the event Borrower determines to take any action inconsistent with such intention, it
will promptly notify Agent thereof. If Borrower so notifies Agent, Borrower acknowledges that one or more Lenders may treat its Loans and/or Letters of Credit as part of a transaction that is subject to Treasury Regulation Section 301.6112-1, and such Lender or Lenders, as applicable, will maintain the lists and other records required by such Treasury Regulation. 

6.25. Anti-Corruption Laws and Sanctions . Borrower has implemented and maintains in effect policies and/or
procedures designed to ensure compliance by Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. Borrower, its Subsidiaries and, to the knowledge of Borrower,
their respective officers, employees, directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions, in each case in all material respects. None of (a) Borrower or any Subsidiary or (b) to the knowledge of
Borrower, any of their respective directors, officers, employees or agents, is a Sanctioned Person. No Credit Extension or use of proceeds of any Credit Extension will violate Anti-Corruption Laws or applicable Sanctions. 

6.26. Solvency. Each Loan Party is, individually and together with its Subsidiaries on a consolidated basis,
Solvent. 
 ARTICLE VII. AFFIRMATIVE COVENANTS 

Until the Release Date, Borrower shall, and shall (except in the case of the covenants set forth in Sections 7.01, 7.02,
7.03, and 7.12) cause each Subsidiary (and in the case of the covenant set forth in Section 7.17, that is a Qualified ECP Guarantor) to: 

7.01. Financial Statements. Deliver to Agent a sufficient number of copies for delivery by Agent to each Lender,
in form and detail reasonably satisfactory to Agent and the Majority Lenders: 
 (a)    as soon as available, but in any
event within ninety (90) days after the end of each fiscal year of Borrower, a consolidated and consolidating balance sheet of Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated and consolidating
statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with
GAAP, audited and accompanied by a report and opinion of a Registered Public Accounting Firm of reputable standing reasonably acceptable to Agent, which report and opinion shall be prepared in accordance with generally accepted auditing standards
and applicable Securities Laws and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit; 

  
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 (b)    as soon as available, but in any event within 45 days after the end of
each fiscal quarter of each fiscal year of Borrower (excluding the last fiscal quarter of Borrower’s fiscal year), a consolidated balance sheet of Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated
statements of income or operations, shareholders’ equity and cash flows for such fiscal quarter and for the portion of Borrower’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding
fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail, certified by a Responsible Officer of Borrower as fairly presenting in all material respects the financial condition,
results of operations, shareholders’ equity and cash flows of Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; and

 (c)    annually by March 31 of each fiscal year of Borrower (including the fiscal year in which the Maturity
Date occurs), a drilling budget for such fiscal year, a capital expenditure budget for such fiscal year, a forecast of cash flow on a monthly basis for such fiscal year, and a quarterly forecast of production for the three year period commencing the
previous January 1, all in form reasonably acceptable to Agent. 
 7.02. Certificates; Other Information.
Deliver to Agent a sufficient number of copies for delivery by Agent to each Lender, in form and detail reasonably satisfactory to Agent and the Majority Lenders: 

(a)    concurrently with the delivery of the financial statements referred to in
Section 7.01(a), a certificate of its independent certified public accountants certifying such financial statements; 

(b)    concurrently with the delivery of the financial statements referred to in Sections 7.01(a) and (b), a
duly completed (subject to Section 7.02(h)) Compliance Certificate signed by a Responsible Officer of Borrower and (i) a summary of all Swap Contracts then in existence entered into by any Loan Party, including the
material terms thereof (the type, term, effective date, termination date and notional amounts or volumes), and the net mark-to-market value therefor, which are not
listed on Schedule 6.20; 
 (c)    promptly after any request by Agent or any Lender, copies
of any detailed audit reports, final management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of Borrower by independent accountants in connection with the accounts or books of
Borrower or any Subsidiary, or any audit of any of them; 
 (d)    (i) on or before April 1 of each year beginning
in 2014, a Reserve Report prepared by independent reservoir engineers reasonably acceptable to Agent and if Borrower so elects the separate in-house Reserve Report described
in Section 4.02(a), (ii) on or before October 1 of each year beginning in 2014, a Reserve Report prepared by Borrower’s own engineers described in Section 4.02(a), and
(iii) with each Reserve Report, a lease operating statement and a schedule comparing the net revenue interests of each well, lease or unit mortgaged to Agent as reflected on each applicable Collateral Document, to the net revenue interests for
such properties reflected in the Reserve Report, along with an explanation as to any material discrepancies between the two net revenue interest disclosures; 

(e)    promptly after the same are available, copies of each annual report, proxy or financial statement or other report
or communication sent generally to the stockholders of Borrower, and copies of all annual, regular, periodic and special reports and registration statements which Borrower may file or be required to file with the SEC under Section 13 or 15(d)
of the Securities Exchange Act of 1934, and not otherwise required to be delivered to Agent pursuant hereto; 

  
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 (f)    promptly after the furnishing thereof, copies of any statement or
report furnished to any holder of debt securities of any Loan Party or any Subsidiary thereof pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lenders pursuant to
Section 7.01 or any other clause of this Section 7.02; 

(g)    promptly, and in any event within five Business Days after receipt thereof by any Loan Party or any Subsidiary
thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other
inquiry by such agency regarding financial or other operational results of any Loan Party or any Subsidiary thereof; 

(h)    as soon as available, but in any event within 45 days after the end of the last fiscal quarter of
Borrower’s fiscal year, a Compliance Certificate containing only paragraph 6 thereof and a completed Schedule 3 thereto (which paragraph 6 and Schedule 3 need not be included in the Compliance Certificate delivered with the financial
statements referred to in Section 7.01(a) pursuant to Section 7.02(b)); and 

(i)    promptly, such additional information regarding the business, financial or corporate affairs of Borrower or any
Subsidiary, or compliance with the terms of the Loan Documents, as Agent or any Lender may from time to time reasonably request. 

Documents required to be delivered pursuant to Section 7.01(a) or (b) or
Section 7.02(e) (to the extent any such documents are filed or are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date
(i) on which Borrower posts such documents, or provides a link thereto on Borrower’s website on the Internet at the website address listed on Schedule 11.02; or (ii) on which such documents are posted on Borrower’s behalf
on an Internet or intranet website, if any, to which each Lender and the Agent have access (whether the SEC website, a commercial, third-party website or website sponsored by the Agent); provided that: (i) Borrower shall deliver paper
copies of such documents to the Agent or any Lender that requests Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Agent or such Lender and (ii) Borrower shall notify the Agent (by
facsimile or electronic mail) of the posting of any such documents and provide to the Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, in every instance Borrower
shall be required to provide paper copies of the Compliance Certificates required by Section 7.02(b) to the Agent. Except for such Compliance Certificates, the Agent shall have no obligation to request the delivery or to
maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or
maintaining its copies of such documents. 
 Borrower hereby acknowledges that (a) Agent will make available to Lenders and the L/C
Issuer materials and/or information provided by or on behalf of Borrower hereunder (collectively, “Borrower Materials”) by posting Borrower Materials on IntraLinks or another similar electronic
system (the “Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material
non-public information with respect to Borrower or its securities) (each, a “Public Lender”). Borrower hereby agrees that (w) all Borrower Materials
that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking
Borrower Materials “PUBLIC,” Borrower shall be deemed to have authorized Agent, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information
with respect to Borrower 

  
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or its securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be
treated as set forth in Section 11.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and
(z) Agent and Arranger shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information”. 

7.03. Notices. (a) Promptly notify Agent and each Lender: 

(i)    of the occurrence of any Default; 

(ii)    of any matter that has resulted or could reasonably be expected to result in a Material Adverse
Effect, including (i) breach or non-performance of, or any default under, a Contractual Obligation of Borrower or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension
between Borrower or any Subsidiary and any Governmental Authority; or (iii) the commencement of, or any material development in, any litigation or proceeding affecting Borrower or any Subsidiary, including pursuant to any applicable
Environmental Laws; 
 (iii)    of the occurrence of any ERISA Event; and 

(iv)    of any material change in accounting policies or financial reporting practices by any Loan Party.

 Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of Borrower setting forth details of the occurrence
referred to therein and stating what action Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section 7.03(a)(i) shall describe with particularity any and all provisions of this Agreement
and any other Loan Document that have been breached. 
 (b)    Give any such notices as may be required by
Section 4.03(b), as applicable. 
 7.04. Payment of Obligations. Pay and discharge as
the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith
by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by Borrower or such Subsidiary, or such liability is not yet delinquent; and (b) all lawful claims which, if unpaid, would by law
become a Lien upon its property unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by Borrower or such Subsidiary. 

7.05. Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and effect its
legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 8.04 or 8.05; (b) take all reasonable action to maintain all rights, privileges,
permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its
registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect. 

7.06. Maintenance of Properties. (a) Maintain, preserve and protect all of its material properties and
equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not
reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities. 

  
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 7.07. Maintenance of Insurance. (a) Maintain with
financially sound and reputable insurance companies not Affiliates of Borrower, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business,
of such types and in such amounts (after giving effect to any self-insurance compatible with the following standards; provided the Loan Parties may not self-insure against, and must have policies of
insurance for, business interruption and named windstorm coverage) as are customarily carried under similar circumstances by such other Persons; and (b) use commercially reasonable efforts to cause the operator of its oil and gas properties to
keep its oil and gas properties insured at all times against risks and to the extent that like properties are customarily insured by other operators engaged in the same or similar activities. All such insurance policies maintained by the Loan
Parties (but not those provided by other operators) shall (1) provide that Agent shall receive prompt notice of any claims filed thereunder; and (2) contain a standard mortgagee clause in favor of Agent with loss payable for all claims in
excess of $25,000 to Agent; and (3) provide that no adverse alteration or cancellation thereof shall be effective as against Agent until thirty (30) days after written notice of such alteration or cancellation is given to Agent. Borrower
shall deliver to Agent certificates of insurance as and when requested by Agent. 
 7.08. Compliance with
Laws. (a) Comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (i) such requirement of
Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (ii) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect and
(b) maintain in effect and enforce policies and/or procedures designed to ensure compliance by Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

7.09. Books and Records. (a) Maintain proper books of record and account, in which full, true and
correct entries in conformity with GAAP consistently applied shall be made of all material financial transactions and matters involving the material assets and business of Borrower or such Subsidiary, as the case may be; and (b) maintain such
books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over Borrower or such Subsidiary, as the case may be. 

7.10. Inspection Rights. Permit representatives and independent contractors of Agent and each Lender to
visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent
public accountants, if no Event of Default exists, at the expense of Borrower for the first of such visits during any calendar year and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable
advance notice to Borrower; provided, however, that when an Event of Default exists Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of Borrower at any time
during normal business hours and without advance notice; and provided further, that any such inspections of foreign properties (other than foreign Mortgaged Properties) and Foreign Subsidiaries shall be permitted only if reasonably necessary.
With respect to properties or wells not operated by a Loan Party, Borrower’s obligation shall be limited to making reasonable efforts to provide such access subject to Contractual Obligations applicable to Loan Parties related to such access by
Loan Parties or their representatives. 
 7.11. Use of Proceeds. Use the proceeds of Loans solely
(a) to provide working capital, (b) to fund drilling expenses, (c) to fund general oil and gas business activities, (d) to finance permitted acquisitions of oil and gas properties and other assets related to the exploration,
production and development of oil and gas properties, and (e) to make Investments and other payments permitted under this Agreement. 

  
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 7.12. Financial Covenants. 

(a)    Net Funded Debt to EBITDAX Ratio. Maintain on a consolidated basis a ratio of Net Funded Debt to EBITDAX not
exceeding 4.00:1.00. 
 (b)    Interest Coverage Ratio. Maintain on a consolidated basis a ratio of EBITDAX to
Interest Expense of at least 3.0 to 1.0. 
 These ratios will be calculated at the end of each fiscal quarter using the results of the twelve-month period
ending with that fiscal quarter. 
 7.13. Title Data. In addition to the other title information
requirements of this Agreement, upon the request of Majority Lenders, cause to be delivered to Agent such title opinions and other title information regarding title to Mineral Interests in oil and gas properties owned by Borrower and any other Loan
Party as are appropriate to determine the status thereof. 
 7.14. Additional Subsidiaries. Notify Agent
at the time that any Person becomes a Domestic Subsidiary, and promptly thereafter (and in any event within thirty (30) days or such longer period as Agent may agree), cause such Domestic Subsidiary to comply with the provisions of
Section 2.13 by (a) executing and delivering to Agent a counterpart of the Guaranty, (b) executing and delivering to Agent such Collateral Documents as Agent shall deem appropriate for granting Agent a Lien,
subject to Permitted Liens, against all of its assets to the extent required by Section 2.13, and (c) delivering to Agent documents of the types referred to in clauses (iii) and (iv) of
Section 5.01(a) and favorable opinions of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred to in clause (a)), all in
form, content and scope satisfactory to Agent. 
 7.15. Collateral. Comply at all times with the requirements of
Section 2.13(a) and Section 2.13(b). 
 7.16. Further
Assurances. Make, execute or endorse, acknowledge and deliver or file or cause the same to be done, all such vouchers, invoices, notices, certifications and additional agreements, undertakings, conveyances, deeds of trust, mortgages,
assignments, financing statements or other assurances, and take any and all such other actions as Agent may from time to time deem reasonably necessary or appropriate in connection with this Agreement or any of the other Loan Documents (i) to
cure any defects in the Loan Documents, or (ii) to evidence further or more fully describe, perfect or realize on the Collateral, or (iii) to perfect, protect or preserve any liens pursuant to any of the Loan Documents. 

7.17. Commodity Exchange Act Keepwell Provisions. 

(a)    Undertake, and cause each Subsidiary that is a Qualified ECP Guarantor to undertake, unconditionally and irrevocably
to provide such funds or other support as may be needed from time to time by each Benefiting Guarantor in order for such Benefiting Guarantor to honor its obligations (without giving effect to Section 7.17(b)) under the
Guaranty and any Collateral Document including obligations with respect to Swap Contracts (provided, however, that the Borrower shall only be liable under this Section 7.17(a) for the maximum amount of such liability that
can be hereby incurred without 

  
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rendering its obligations under this Section 7.17(a), or otherwise under this Agreement or any Loan Document, as it relates to such Benefiting Guarantor, voidable under
applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of the Borrower under this Section 7.17(a) shall remain in full force and effect until all
Obligations (other than contingent indemnification and expense obligations) are paid in full, and all of the Lenders’ Commitments are terminated. The Borrower intends that this Section 7.17(a) constitute, and this
Section 7.17(a) shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each Benefiting Guarantor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange
Act. 
 (b)    Notwithstanding any other provision of this Agreement or any other Loan Document, the Obligations
guaranteed by any Loan Party or secured by the grant of any Lien by any Loan Party shall exclude all Excluded Swap Obligations of such Loan Party. 

ARTICLE VIII. NEGATIVE COVENANTS 

Until the Release Date, Borrower agrees that it shall not, and, as applicable, shall not permit any Subsidiary to, directly or indirectly:

 8.01. Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues,
whether now owned or hereafter acquired, other than the following (collectively, the “Permitted Liens”): 

(a)    Liens securing the Obligations pursuant to any Loan Document; 

(b)    Liens existing on the date hereof and listed on Schedule 8.01 and any renewals or extensions thereof,
provided that (i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased except as contemplated by Section 8.03(b), (iii) the direct or any contingent
obligor with respect thereto is not changed, and (iv) and any renewal or extension of the obligations secured or benefited thereby is permitted by Section 8.03(b); 

(c)    Liens for taxes not yet delinquent or which are being contested in good faith and by appropriate proceedings
diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 

(d)    carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, operator’s,
landlord’s, customs’ or other like Liens arising in the ordinary course of business which are not overdue for a period of more than thirty (30) days or which are being contested in good faith and by appropriate proceedings diligently
conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person; 

(e)    pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment
insurance and other social security legislation, other than any Lien imposed by ERISA; 
 (f)    deposits to secure the
performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(g)    easements, rights-of-way, surface
leases and other similar rights in respect of surface operations, restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount, and are customary and usual in the oil and gas industry,
and which do not in any case materially detract from the value or operation of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 

  
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72 

 (h)    Liens securing judgments for the payment of money not constituting an
Event of Default under Section 9.01(h); 
 (i)    Liens securing Indebtedness permitted under
Section 8.03(f); provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and additions and accessions thereto and proceeds thereof and
(ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition; 

(j)    contracts, agreements, lease provisions, defects and irregularities which were in effect when the properties were
acquired and which were not such as to materially interfere with the operation, value or use thereof; 

(k)    royalties, overriding royalties, reversionary interests, production payments and similar lease burdens which are
granted in the ordinary course of business in the oil and gas industry and which are deducted in the calculation of discounted present value in the Reserve Reports delivered to Agent hereunder; 

(l)    sale contracts, joint operating agreements, or other arrangements for the exploration, development, production,
transportation, gathering, processing or sale of hydrocarbons which would not (when considered cumulatively with the matters discussed in clause (k) immediately preceding) deprive Borrower of any material right in respect of Borrower’s
assets or properties; 
 (m)    Gas Balancing Agreements; provided that the amount of all gas imbalances known to any
Responsible Officer of a Loan Party and the amount of all production which has been paid for but not delivered shall have been disclosed or otherwise taken into account in the Reserve Reports delivered to the Agent hereunder; 

(n)    Liens to secure plugging and abandonment obligations, including the Texaco Lien; 

(o)    Liens expressly permitted by the Collateral Documents; 

(p)    Liens securing the financing of insurance premiums; 

(q)    Liens relating to the establishment of depository relations with banks in the ordinary course of business; 

(r)    Liens arising under an indenture or other agreement governing Senior Notes in favor of the trustee, agent or
representative thereunder for its own benefit; provided, however, that such Liens are solely for the benefit of such trustee, agent or representative in its capacity as such and not for the benefit of the holders of such indebtedness;
and 
 (s)    Liens securing obligations that in the aggregate do not exceed $1,000,000 at any time. 

8.02. Investments. Make any Investments, except: 

(a)    Investments held by Borrower or such Subsidiary in the form of cash equivalents or short-term marketable debt
securities; 

  
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73 

 (b)    Investments of Borrower or any Subsidiary in any Loan Party; 

(c)    Investments consisting of extensions of credit in the nature of accounts receivable, notes receivable, extensions
of credit to customers and suppliers, prepaid expenses, deposits and endorsements of negotiable instruments for collection arising in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from
financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss; 

(d)    Guarantees permitted by Section 8.03; 

(e)    Investments consisting of (i) temporary investments in securities of the United States or Canada having
maturities not in excess of one (1) year, (ii) demand deposits and certificates of deposit issued by any Lender, (iii) readily marketable commercial paper rated “A-1” by Standard &
Poor’s Corporation (or similar rating by any similar organization which rates commercial paper), (iv) readily marketable direct obligations of any state of the United States of America or any province of Canada or any political subdivision of
any such state or province given on the date of such investment a credit rating of at least AA by Standard & Poor’s Corporation due within one year from the acquisition thereof, (v) repurchase agreements with respect to the
investments referred to in the preceding clauses with any bank or trust company organized under the Laws of the United States of America or any province of Canada or any state or province thereof and having combined capital, surplus and undivided
profits of not less than $500,000,000 (as of the date of its most recent financial statements) and having deposits that have received one of the two highest ratings obtainable from Standard & Poor’s Corporation, (vi) eurodollar
time accounts or eurodollar certificates of deposit each with any bank or trust company organized under the Laws of the United States of America or any province of Canada or any state or province thereof having combined capital, surplus and
undivided profits of not less than $500,000,000 (as of the date of its most recent financial statements) and having deposits that have received one of the two highest ratings obtainable from Standard & Poor’s Corporation,
(vii) demand or time deposits not to exceed $10,000,000 in the aggregate outstanding at any time with banks or other financial institutions in countries (other than the United States or Canada) where a Loan Party has assets or operations, and
(viii) such other Investments as may be approved by Agent; 
 (f)    Investments in direct ownership interests in
additional Mineral Interests, wells, gas gathering systems or other field facilities including but not limited to crew boats and other vessels, shore facilities, storage barges, seismic data and surveys, in each case related to such additional
Mineral Interests or wells or to existing Mineral Interests or wells, or in the form of or pursuant to farm-out, farm-in, participation agreements, joint operating
agreements, or area of mutual interests agreements or other similar arrangements which are usual and customary in the oil and gas exploration and production business; provided that Investments in non-producing oil and gas properties shall not be made unless either: 
  

	 	(1)	the proforma Applicable Usage Level is 90% or less; or 

  

	 	(2)	the sum of the proposed Investment, plus the aggregate outstanding amount of all such previous Investments made in reliance on this clause (2) during any such calendar year, does not exceed $10,000,000;

 (g)    Investments in the Designated Investment Entities if before and after giving effect thereto
(i) no Default exists, (ii) Borrower is in pro forma compliance with the financial covenants set forth in Section 7.12, and (iii) the amount of such Investment, plus the amount of all such prior
Investments made after the Ninth Amendment Effective Date pursuant to this Section 8.02(g), does not exceed $100,000,000 in the aggregate. If any such Investment is in excess of $2,500,000, Borrower shall deliver to Agent,

  
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74 

 
either on or prior to the date on which any such Investment is to be made or promptly thereafter, a certificate of a Responsible Officer, in the form of Exhibit I or such other format as
is reasonably satisfactory to Agent, certifying (in reasonable detail in support thereof) that after giving effect to such Investment, (i) there is no Default, and (ii) Borrower is in pro forma compliance with the financial covenants
set forth in Section 7.12; 
 (h)    Investments made with cash proceeds received from the
sale of Borrower’s Equity Interests; 
 (i)    Any other Investments not to exceed (i) at any time up to and
including March 31, 2014, $30,000,000 in the aggregate, (ii) for the period from April 1, 2014 to December 31, 2014, the lesser of (A) ten percent (10%) of the Borrowing Base existing at the time such Investment is made, and
(B) $30,000,000, in the aggregate, and (iii) thereafter, in any calendar year, the lesser of (A) ten percent (10%) of the Borrowing Base existing at the time such Investment is made, and (B) $30,000,000, in the aggregate; 

(j)    Investments in joint ventures formed to own and operate midstream assets; provided that the JV Investments Amount
of all such Investments made after the Ninth Amendment Effective Date in reliance on this clause (j) does not exceed $150,000,000 in the aggregate; and 

(k)    Investments permitted under Sections 8.08, 8.09 or 8.14. 

8.03. Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except: 

(a)    Indebtedness under the Loan Documents; 

(b)    Indebtedness outstanding on the date hereof and listed on Schedule 8.03 and any refinancings, refundings,
renewals or extensions thereof; provided that (i) the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other reasonable
amount paid, accrued and unpaid interest, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder and (ii) the terms relating to principal amount,
amortization, maturity, collateral (if any) and subordination (if any), and other material terms taken as a whole, of any such refinancing, refunding, renewing or extending Indebtedness, and of any agreement entered into and of any instrument issued
in connection therewith, are no less favorable in any material respect to the Loan Parties or Lenders than the terms of any agreement or instrument governing the Indebtedness being refinanced, refunded, renewed or extended; 

(c)    Guarantees of Borrower or any Subsidiary in respect of Indebtedness otherwise permitted hereunder of Borrower or
any wholly-owned Subsidiary; 
 (d)    obligations (contingent or otherwise) of Borrower or any Subsidiary existing or
arising under any Swap Contract, provided that (i) such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments,
investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person, and not for purposes of speculation; and (ii) such Swap Contract otherwise complies with the provisions
of Section 8.09; 
 (e)    [Reserved]; 

  
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75 

 (f)    Indebtedness in respect of capital leases, Synthetic Lease Obligations
and purchase money obligations for fixed or capital assets within the limitations set forth in Section 8.01(i) and refinancings, refundings, renewals and extensions thereof; provided, however, that the
aggregate amount of all such Indebtedness at any one time outstanding shall not exceed $20,000,000; 

(g)    Indebtedness associated with bonds or other surety obligations required by Governmental Authorities in connection
with the operation of the business of the Loan Parties; 
 (h)    endorsements of negotiable instruments for collection
in the ordinary course of business; 
 (i)    Indebtedness representing deferred compensation to employees of Borrower
or any of its Subsidiaries incurred in the ordinary course of business; 
 (j)    Indebtedness consisting of Cash
Management Obligations and other Indebtedness in respect of net services, overdraft protections and similar arrangements, in each case (x) in connection with cash managing and deposit accounts and (y) incurred in the ordinary course of
business; 
 (k)    intercompany Indebtedness arising out of an Investment permitted under
Section 8.02 so long as such Investment is in or with a Loan Party; 
 (l)    obligations
under Advance Payment Contracts so long as the production covered thereby has not been included in the most recent Reserve Report furnished to Agent; 

(m)    oil and gas balancing obligations incurred in the ordinary course of business; 

(n)    Indebtedness consisting of the financing of insurance premiums incurred in the ordinary course of business; 

(o)    Senior Notes so long as (1) no Default exists immediately before or after giving pro forma effect to any such
incurrence, (2) the maturity date of such Senior Notes is not less than one year after the Maturity Date and (3) the indentures or other agreements under which any Senior Notes are issued and all other instruments, agreements or other
documents evidencing or governing such Senior Notes or providing for any guarantee or other right in respect thereof have terms that, taken as a whole, are not more restrictive on Borrower and its Subsidiaries than the terms of this Agreement and
the other Loan Documents; 
 (p)    other Indebtedness in an aggregate principal amount at any time outstanding under
this clause (p) that does not exceed the greater of (i) $10,000,000 and (ii) two percent (2%) of the Borrowing Base as in effect at the time of the most recent incurrence of Indebtedness under this clause (p). 

8.04. Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose
of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default exists or would result therefrom: 

(a)    any Subsidiary may merge with (i) Borrower, provided that Borrower shall be the continuing or surviving
Person, or (ii) any one or more other Subsidiaries, provided that when any wholly-owned Domestic Subsidiary is merging with another Subsidiary, the wholly-owned Subsidiary shall be the continuing or surviving Person; and 

(b)    any Domestic Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or
otherwise) to Borrower or to another Domestic Subsidiary. 

  
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76 

 8.05. Dispositions. Make any Disposition, except: 

(a)    Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of
business; 
 (b)    Dispositions of equipment to the extent that (i) such equipment is exchanged for credit against
the purchase price of similar replacement equipment or (ii) the proceeds of such Disposition are promptly applied to the purchase price of such replacement equipment; 

(c)    Dispositions of property by Borrower or any Subsidiary to Borrower or to a wholly-owned Subsidiary; provided
that if the transferor of such property is a Guarantor, the transferee thereof must either be Borrower or a Guarantor; 

(d)    Dispositions permitted by Sections 8.04 and 8.06; 

(e)    Sales of hydrocarbons, including pursuant to Advance Payment Contracts permitted by this Agreement and Swap
Contracts, in the ordinary course of business; 
 (f)    Dispositions consisting of any compulsory pooling or
unitization ordered by a Governmental Authority with jurisdiction over each Loan Party’s Mineral Interests in its oil and gas properties; 

(g)    Dispositions in connection with farm-outs participation or other similar
agreements in the ordinary course of business of undeveloped acreage or undrilled depths and assignments in connection therewith; 

(h)    Asset Dispositions; provided that (1) all of the consideration received in respect to such Asset Disposition
shall be cash or oil and gas properties to be included in the Borrowing Base pursuant to Section 4.08, (2) the consideration received shall be equal to or greater than the fair market value thereof (as reasonably determined
by the board of directors or a Responsible Officer of Borrower and if requested by Agent, Borrower shall deliver a certificate of a Responsible Officer of Borrower certifying to that effect), and (3) to the extent that the Recognized Value of
the aggregate of all Asset Dispositions in any calendar year exceeds 5% of the then effective Borrowing Base, then the Borrowing Base shall be reduced by the amount of such excess; 

(i)    leases, subleases, licenses or sublicenses of property other than Mortgaged Properties in the ordinary course of
business and which do not materially interfere with the value of such property; 
 (j)    transfers of property subject
to any condemnation or eminent domain (or deed in lieu thereof) upon receipt of the casualty proceeds of such event; 

(k)    Dispositions in the ordinary course of business consisting of the abandonment of intellectual property rights
which, in the reasonable good faith determination of Borrower, are not material to the conduct of the business of Borrower and its Subsidiaries; 

(l)    Dispositions of Investments in the Designated Investment Entities to the extent required by, or made pursuant to
buy/sell arrangements between joint venture parties set forth in, joint venture arrangements and similar binding agreements; 

(m)    Dispositions of overdue accounts receivable arising in the ordinary course of business, but only in connection with
the collection or compromise thereof; 

  
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 (n)    Dispositions of cash equivalent Investments in the ordinary course of
business; 
 (o)    Dispositions of oil and gas properties not covered in the most recent Reserve Report furnished to
Agent; 
 (p)    voluntary terminations of Swap Contracts, subject to the provisions of
Section 4.03(b); 
 (q)    Dispositions of Equity Interests in Diamondback Energy, Inc. owned
as of the Closing Date; 
 (r)    Dispositions of contracts (and rights or interests therein or thereunder) or other
arrangements constituting a release of natural gas interstate transportation capacity, which Dispositions do not (when considered cumulatively, and taken together with other related transactions and contractual arrangements) deprive Borrower of the
benefit of any material portion of Borrower’s Mineral Interests; or 
 (s)    Dispositions of property constituting
Investments permitted by Section 8.02. 
 provided, however, that (1) any Disposition pursuant to clauses (e), (g),
(h), (n) and (o) shall be for fair market value, and (2) no Disposition pursuant to clauses (d), (f), (g), (h), (l) and (o) may be made if a Default shall exist or would result from such Disposition. 

8.06. Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, or incur any
obligation (contingent or otherwise) to do so, except that, so long as no Default shall have occurred and be continuing at the time of any action described below or would result therefrom: 

(a)    each Subsidiary may make Restricted Payments to Borrower and Guarantors; 

(b)    Borrower and each Subsidiary may declare and make dividend payments or other distributions payable solely in the
common stock or other common Equity Interests of such Person; 
 (c)    Borrower and each Subsidiary may purchase,
redeem or otherwise acquire Equity Interests issued by it with the proceeds received from the substantially concurrent issue of new shares of its common stock or other common Equity Interests; 

(d)    cashless exercise of existing warrants in an amount not to exceed $50,000; 

(e)    each Subsidiary may issue Equity Interests to Borrower or another Subsidiary provided the parties comply with
Section 2.13(d) and (e), as applicable; and 
 (f)    any Subsidiary may issue and sell
directors’ qualifying shares and shares required by applicable Law to be held by a Person other than Borrower or a Guarantor. 

8.07. Change of Operator. Cease for any reason to be the operator of (i)any of the Mortgaged Properties which it
is operating as of the Closing Date, and (ii) any properties that it subsequently acquires and takes over operations. 

8.08. [Reserved]. 

8.09. Swap Contracts. Enter into any Swap Contract, except: 

(a)    Commodity Contracts. Contracts entered into to hedge prices on oil, natural gas and natural gas liquids
expected to be produced by the Loan Parties, provided that at all times: 
 (i)    no such contract fixes
a price for a term of more than 60 months from the date that such Swap Contract is executed; 

  
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78 

 (ii)    the notional volumes for which (when aggregated with
other Swap Contracts then in effect other than puts and floors and basis differential swaps) do not exceed, as of the date such Swap Contract is executed: 

(A)    80% of the Loan Parties’ aggregate reasonably anticipated Projected Oil and Gas Production for
each fiscal quarter during the first three (3) year period during which such Swap Contract is in effect for each of crude oil, natural gas and natural gas liquids, calculated separately, provided that for Swap Contracts entered into during 2016
only, the following percentages of the Loan Parties’ aggregate reasonably anticipated Projected Oil and Gas Production shall be applicable for each fiscal quarter during each calendar year: 

 

					
	 Calendar Year
	  	Percentage	 
	 2016
	  	 	90	% 
	 2017
	  	 	80	% 
	 2018
	  	 	80	% 

 ;
and                     

(B)    85% of the total proved production as included in the most recently delivered Reserve Report for
each fiscal quarter during the period starting three (3) years after such Swap Contract goes into effect for each of crude oil, natural gas and natural gas liquids, calculated separately; 

provided that if: 

(x)    (1) the aggregate notional amount of all Tested Swap Contracts for a fiscal quarter exceeds the
greater of (A) 100% of the actual production for that fiscal quarter and (B) 100% of the daily average actual production for the most recent two weeks for which reports are available to Borrower, multiplied by the number of days in such
fiscal quarter, for each of crude oil, natural gas and natural gas liquids, calculated separately (such greater amount, the ‘Threshold’), and (2) on the date of such calculation, the amount of the Swap Termination Value owed by the
Loan Parties for such Tested Swap Contracts that are in excess of the Threshold for such quarter exceeds 10% of the difference between the Borrowing Base and the Total Outstandings, 

(y)    Liquidity is less than $100 million, and 

(z)    based on the Loan Parties’ updated aggregate reasonably anticipated Projected Oil and Gas
Production for the upcoming fiscal quarter (the ‘Hedging Notional Volume Measurement Quarter’), as reasonably approved by the Administrative Agent, the over-hedged condition described in clause (x) is reasonably likely to continue for
the Hedging Notional Volume Measurement Quarter; 

  
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79 

 then, Borrower shall, or shall cause other Loan Parties to, terminate, create off-setting positions, or otherwise unwind existing Tested Swap Contracts for the Hedging Notional Volume Measurement Quarter within 60 days after the end of the most recently completed fiscal quarter to the extent
necessary so that, on a pro forma basis, the Tested Swap Contracts for the Hedging Notional Volume Measurement Quarter do not exceed the greater of: 

(1)    the Threshold, and 

(2)    80% of the Loan Parties’ updated aggregate reasonably anticipated Projected Oil and Gas
Production for the Hedging Notional Volume Measurement Quarter, as reasonably approved by the Administrative Agent, for each of crude oil, natural gas and natural gas liquids, calculated separately; 

(iii)    no such contract (other than a Lender Swap Contract) requires Borrower to put up money, assets, or
other security against the event of its nonperformance prior to actual default by Borrower in performing its obligations thereunder; and 

(iv)    each such contract is with (A) a Lender or an Affiliate of a Lender or (B) a counterparty
who is unsecured who at the time the contract is entered into maintains a minimum debt rating of BBB or Baa2 as determined either by Standard & Poor’s Corporation or Moody’s Investors Service, Inc. and is otherwise reasonably
acceptable to Agent. 
 At all times, clause (a)(ii)(B) above shall be deemed to refer to the most recent Reserve Report
or internally-prepared engineering data received by Agent under Section 4.02 or 4.03 hereof, as applicable. 

Notwithstanding any other provision of this Section 8.09(a), the Borrower and its Subsidiaries may enter into (A) put
and floor options and (B) basis differential swaps, in each case, with respect to notional volumes not in excess of the notional volumes that may otherwise be hedged pursuant to this Section 8.09 (but not giving effect to the parenthetical
in Section 8.09(a)(ii)). 
 For purposes of this paragraph, “Tested Swap Contracts” means
Swap Contracts entered into to hedge prices on oil, natural gas and natural gas liquids measured separately expected to be produced by the Loan Parties other than (A) put and floor options, and (B) basis differential swaps. 

Notwithstanding the foregoing, a Loan Party may enter into Swap Contracts (‘Acquisition Hedges’) for production to be
produced from properties or interests that a Loan Party proposes to acquire but does not then own (each, a ‘Pro Forma Property’) so long as such Acquisition Hedges (a) are entered into after the purchase and sale agreement with
respect to such Pro Forma Property has been fully executed, (b) do not exceed the term limitation set forth in Section 8.09(a)(i), and (c) do not have notional volumes that exceed the volume limitations set forth in
Section 8.09(a)(ii) determined on a pro forma basis as if the Pro Forma Properties were owned by a Loan Party. 

Borrower agrees that, if a Loan Party has outstanding Acquisition Hedges, Borrower shall, or shall cause other Loan Parties to,
terminate, create offsetting positions or otherwise unwind Swap Contracts to the extent necessary to comply with the volume requirements of 

  
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80 

 
Section 8.09 (a)(ii) determined without inclusion of any production from such Pro Forma Property within 30 days after the earlier to occur of (1) 90 days after the date the applicable
purchase and sale agreement was entered into if the acquisition of such Pro Forma Property has not been consummated, or (2) the date Borrower obtains knowledge with reasonable certainty that the acquisition of such Pro Forma Property will not
be consummated. 
 (b)    Interest Rate Contracts. Contracts entered into by Borrower with the purpose and effect
of fixing interest rates on a principal amount of indebtedness of Borrower that is accruing interest at a variable rate, provided that (1) the term does not extend past the Maturity Date, (2) the aggregate notional amount of such contracts
never exceeds 75% of the anticipated outstanding principal balance of the indebtedness to be hedged by such contracts or an average of such principal balances calculated by using a generally accepted method of matching interest swap contracts to
declining principal balances, (3) the floating rate index of each such contract generally matches the index used to determine the floating rates of interest on the corresponding indebtedness to be hedged by such contract, (4) no such
contract (other than a Lender Swap Contract) requires Borrower to put up money, assets, or other security against the event of its nonperformance prior to actual default by Borrower in performing its obligations thereunder, and (5) each such
contract is with (i) a Lender or an Affiliate of a Lender or (ii) a counterparty who is unsecured who at the time the contract is entered into maintains a minimum debt rating of BBB or Baa2 as determined either by Standard &
Poor’s Corporation or Moody’s Investors Service, Inc. and is otherwise acceptable to Agent. 

(c)    Currency Swaps. Contracts entered into by Borrower with the purpose and effect of fixing the rate of
exchange between two currencies with respect to the amount of the payments to be made or received by Borrower or a Subsidiary in one of such currencies pursuant to an agreement, provided that (1) the term does not extend past the Maturity Date,
(2) no such contract (other than a Lender Swap Contract) requires Borrower to put up money, assets, or other security against the event of its nonperformance prior to actual default by Borrower in performing its obligations thereunder, and
(3) each such contract is with (i) a Lender or an Affiliate of a Lender or (ii) a counterparty who is unsecured who at the time the contract is entered into maintains a minimum debt rating of BBB or Baa2 as determined either by
Standard & Poor’s Corporation or Moody’s Investors Service, Inc. or is otherwise acceptable to Agent. 

8.10. Change in Nature of Business. Engage in any material line of business substantially different from those
lines of business conducted by Borrower and its Subsidiaries on the date hereof or any business substantially related or incidental thereto. 

8.11. Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate of Borrower (other
than Borrower or any wholly-owned Subsidiary of Borrower), whether or not in the ordinary course of business, other than on fair and reasonable terms that are substantially as favorable to Borrower or such Subsidiary as would be obtainable by
Borrower or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate. 

8.12. Burdensome Agreements. Enter into any Contractual Obligation (other than this Agreement or any other Loan
Document) that limits the ability (i) of any Domestic Subsidiary to make Restricted Payments to Borrower or any Guarantor, or (ii) of any Domestic Subsidiary to Guarantee the Indebtedness of Borrower, in each case other than any such
Contractual Obligation relating to, or arising or existing by reason of, (a) provisions in corporate charters, bylaws, stockholders agreements, partnership agreements, limited liability agreement, and similar agreements, (b) applicable Law
or any applicable rule, regulation or order, (c) encumbrances and restrictions contained in contracts entered into in the ordinary course of business, not relating to any Indebtedness, and that do not, individually or in the aggregate, detract
from the value of property or assets of Borrower or any Guarantor or the ability of 

  
 CREDIT AGREEMENT – Page
81 

 
Borrower or such Guarantor to realize such value, or to make any distributions relating to such property or assets in each case in any material respect, (d) as required by any regulatory
authority having jurisdiction over Borrower or any Domestic Subsidiary or any of the their businesses, or (e) indentures and other agreements governing Senior Notes issued in compliance with Section 8.03.

 8.13. Use of Proceeds. (a) Use the proceeds of any Credit Extension, whether directly or indirectly, and
whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness
originally incurred for such purpose, or (b) use the proceeds of any Credit Extension (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in
violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (iii) in any manner that would
result in the violation of any Sanctions applicable to any party hereto. 
 8.14. Gas Balancing Agreements and Advance
Payment Contracts. (a) Incur, become or remain liable for, or permit any other Loan Party to incur, become or remain liable for, (i) any Material Gas Imbalance, or (ii) Advance Payments under Advance Payment Contracts which are to
be satisfied by delivery of production in excess of $1,000,000 in the aggregate, or (b) include any production sold pursuant to an Advance Payment Contract in any Reserve Report furnished to Agent. 

8.15. Accounting Changes. Make or permit any material change in its accounting policies or reporting practices,
except as may be required or permitted by GAAP. 
 8.16. Maintenance of Deposit Accounts. (a) Open or maintain any
deposit account, securities account or commodity account at or with any banking or other financial institution other than a Lender, except for those accounts listed on Part 2 on Exhibit A to the Seventh Amendment to this Agreement dated as of
December 13, 2016 (the “Seventh Amendment”), which accounts may remain open pending closure in the ordinary close of business, or (b) establish or maintain a deposit account, securities account or commodity account (other than
Excluded Accounts), without delivering to the Administrative Agent a control agreement signed by the Administrative Agent, the depository bank, the other parties thereto and the applicable Loan Party, and otherwise in form and substance reasonably
satisfactory to the Administrative Agent, (1) in the case of any account listed on Part 1 of Exhibit A to the Seventh Amendment, within sixty (60) days after the Effective Date (as defined in the Seventh Amendment), or (2) in
the case of any account other than an Excluded Account opened after such Effective Date, within thirty (30) days after such account is opened. 

ARTICLE IX. EVENTS OF DEFAULT AND REMEDIES 

9.01. Events of Default. Any of the following shall constitute an Event of Default: 

(a)    Non-Payment. Borrower or any other Loan Party fails to pay
(i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three Business Days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due
hereunder, or (iii) within five Business Days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 

(b)    Specific Covenants. Borrower fails to perform or observe any term, covenant or agreement contained in any of
Section 7.01, 7.02(b), 7.03, 7.05, 7.10, 7.11 or 7.12 or Article VIII; or 

  
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 (c)    Other Defaults. (i) Any Loan Party fails to perform or
observe any other covenant or agreement (not specified in subsection (a) or (b) above) contained in this Agreement on its part to be performed or observed and such failure continues unremedied for thirty (30) days after notice thereof from
Agent or Agent is notified of such Default or should have been so notified pursuant to the provisions of Section 7.03(a), whichever is earlier; or (ii) any Loan Party fails to perform or observe any other covenant or
agreement (not specified in subsection (a) or (b) above or in the preceding clause (i) of this subsection (c)) contained in any other Loan Document on its part to be performed or observed and such failure continues unremedied beyond any
grace or cure period therein provided; or 
 (d)    Representations and Warranties. Any representation, warranty,
certification or statement of fact made or deemed made by or on behalf of Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be materially incorrect or
misleading when made or deemed made; or 
 (e)    Cross-Default. Borrower or any Subsidiary (A) fails to
make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an
aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $20,000,000, or (B) fails to observe or perform any
other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or
to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required,
such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or
such Guarantee to become payable or cash collateral in respect thereof to be demanded; or 
 (f)    Insolvency
Proceedings, Etc. Any Loan Party or any of its Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the
appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar
officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or
any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding; or 

(g)    Inability to Pay Debts; Attachment. (i) Borrower or any Subsidiary becomes unable or admits in writing
its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not
released, vacated or fully bonded within thirty (30) days after its issue or levy; or 
 (h)    Judgments.
There is entered against Borrower or any Subsidiary (i) one or more final judgments or orders for the payment of money in an aggregate amount exceeding $20,000,000 (to the extent not covered by independent third-party insurance as to which the
insurer does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect
and, in either case, 

  
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(A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of 10 consecutive days during which a stay of enforcement of such
judgment, by reason of a pending appeal or otherwise, is not in effect; or 
 (i)    ERISA. (i) An ERISA
Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate
amount in excess of $3,000,000, or (ii) Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of
ERISA under a Multiemployer Plan in an aggregate amount in excess of $20,000,000; or 
 (j)    Invalidity of Loan
Documents. Until the Release Date has occurred, any Loan Document or any provision thereof, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder ceases to be in full force and
effect; or any Loan Party contests in any manner the validity or enforceability of any Loan Document or any provision thereof (other than manifest error); or any Loan Party denies that it has any or further liability or obligation under any Loan
Document, or purports to revoke, terminate or rescind any Loan Document or any provision thereof; or 
 (k)    Swap
Contracts. There shall occur under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1) any event of default under such Swap Contract to which Borrower or any Subsidiary is the Defaulting Party
(as defined in such Swap Contract), or (2) any Termination Event (as so defined) under such Swap Contract as to which Borrower or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by
Borrower or such Subsidiary as a result thereof exceeds $20,000,000; or 
 (l)    [Reserved]; 

(m)    Change of Control. There occurs any Change of Control with respect to any Loan Party. 

9.02. Remedies Upon Event of Default. If any Event of Default occurs and is continuing, Agent shall, at the
request of, or may, with the consent of, the Majority Lenders, take any or all of the following actions: 

(a)    declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit
Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
 (b)    declare the unpaid
principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder (other than Indebtedness outstanding under Swap Contracts) or under any other Loan Document to be immediately due
and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by Borrower; 

(c)    require that Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount
thereof); and 
 (d)    exercise on behalf of itself and the Lenders all rights and remedies available to it and the
Lenders under the Loan Documents; 

  
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 provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with
respect to Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all
outstanding Loans and all interest and other amounts as aforesaid (other than Indebtedness outstanding under Swap Contracts) shall automatically become due and payable, and the obligation of Borrower to Cash Collateralize the L/C Obligations as
aforesaid shall automatically become effective, in each case without further act of Agent or any Lender. 
 9.03.
Application of Funds. After the exercise of remedies provided for in Section 9.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been
required to be Cash Collateralized as set forth in the proviso to Section 9.02), any amounts received on account of the Obligations shall be applied by Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees,
charges and disbursements of counsel to Agent (including fees and time charges for attorneys who may be employees of Agent) and amounts payable under Article III) payable to Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest
and L/C Fees) payable to Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer (including fees and time charges for attorneys who may be employees of any Lender or the L/C
Issuer) and amounts payable under Article III), ratably among them in proportion to the respective amounts described in this clause Second payable to them; 

Third, to payment of that portion of the Obligations constituting accrued and unpaid L/C Fees and interest on the Loans, L/C Borrowings
and other Obligations, ratably among Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to payment of (i) that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, and
(ii) Obligations related to any Lender Swap Contract or Secured Cash Management Agreement, ratably among Lenders, the L/C Issuer, and any Swap Lender and any Cash Management Party, in proportion to the respective amounts described in this
clause Fourth held by them; 
 Fifth, to Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C
Obligations comprised of the aggregate undrawn amount of Letters of Credit; and 
 Last, the balance, if any, after all of the
Obligations have been indefeasibly paid in full, to Borrower or as otherwise required by Law. 
 Notwithstanding the foregoing, amounts
received from Borrower or any Guarantor that is not an Eligible Contract Participant shall not be applied to any Excluded Swap Obligations (it being understood, that in the event that any amount is applied to Obligations other than Excluded Swap
Obligations as a result of this clause, the Administrative Agent shall make such adjustments as it determines are appropriate to distributions pursuant to clause “Fourth” above from amounts received from Eligible Contract Participants to
ensure, as nearly as possible, that the proportional aggregate recoveries with respect to Excluded Swap Obligations described in such clause “Fourth” are the same as the proportional aggregate recoveries with respect to other Obligations
pursuant to such clause). 
 Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate undrawn
amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully
drawn or expired, such remaining amount shall be applied in the order set forth above. 

  
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 Notwithstanding the foregoing, Obligations arising under Secured Cash Management Agreements and
Lender Swap Contracts shall be excluded from the application described above if Agent has not received written notice thereof, together with such supporting documentation as Agent may request, from the applicable Cash Management Party or Swap
Lender, as the case may be. Each Cash Management Party or Swap Lender not a party to this Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment
of the Agent pursuant to the terms of Article X hereof for itself and its Affiliates as if a “Lender” party hereto. 

ARTICLE X. ADMINISTRATIVE AGENT 

10.01. Appointment and Authorization of Administrative Agent. 

(a)    Each of the Lenders and the L/C Issuer hereby irrevocably appoints Scotiabank to act on its behalf as Administrative
Agent hereunder and under the other Loan Documents and authorizes Agent to take such actions on its behalf and to exercise such powers as are delegated to Agent by the terms hereof and thereof, together with such actions and powers as are reasonably
incidental thereto. Other than the rights of the Loan Parties under Section 10.06, (i) the provisions of this Article are solely for the benefit of Agent, the Lenders and the L/C Issuer, and (ii) neither the Borrower nor any other
Loan Party shall have rights as a third party beneficiary of any of such provisions. All benefits and amenities provided to Agent in this Article shall also apply to Arranger in its capacity as sole arranger and sole bookrunner.It is understood and
agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency
doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 

(b)    The Agent shall also act as the “collateral agent” under the Loan Documents, and each of the Lenders
(including in its capacities as a Swap Lender and Cash Management Party) and the L/C Issuer hereby irrevocably appoints and authorizes the Agent to act as the agent of such Lender and the L/C Issuer for purposes of acquiring, holding and enforcing
any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Agent, as “collateral agent” and
any co-agents, sub-agents and attorneys-in-fact appointed by the Agent pursuant to
Section 10.05 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies thereunder at the direction of the
Agent), shall be entitled to the benefits of all provisions of this Article X and Article XI (including Section 11.04(c)), as though such
co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under
the Loan Documents as if set forth in full herein with respect thereto. 
 10.02. Rights as a Lender. The Person
serving as 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 Agent and the term “Lender” or “Lenders” shall, unless otherwise
expressly indicated or unless the context otherwise requires, include the Person serving as Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any
other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not Agent hereunder and without any duty to account therefor to Lenders. 

  
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 10.03. Exculpatory Provisions. Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, Agent: 

(a)    shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing; 
 (b)    shall not have any duty to take any discretionary action or exercise any discretionary powers,
except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that Administrative Agent is required to exercise as directed in writing by the Majority Lenders (or such other number or percentage of the Lenders
as shall be expressly provided for herein or in the other Loan Documents); provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent
to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or
termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and 
 (c)    shall not, except as
expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to Borrower or any of its Affiliates that is communicated to or obtained by the
Person serving as Agent or any of its Affiliates in any capacity. 
 Agent shall not be liable for any action taken or not taken by it
(i) with the consent or at the request of the Majority Lenders or the Required Lenders, as applicable (or such other number or percentage of the Lenders as shall be necessary, or as Agent shall believe in good faith shall be necessary, under
the circumstances provided in Sections 9.02 and 11.01), or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. Agent shall
be deemed not to have knowledge of any Default unless and until written notice describing such Default is given to Agent by Borrower, a Lender or the L/C Issuer. 

Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or
in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of
any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other
agreement, instrument or document or (v) the satisfaction of any condition set forth in Article V or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to Agent. 

10.04. Reliance by Administrative Agent. 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 (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have
been signed, sent or otherwise authenticated by the proper Person. Agent also may 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. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer,
Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of
Credit. Agent may consult with legal counsel (who 

  
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may be counsel for 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. 
 10.05. Delegation of Duties. Agent may perform any and all of its duties and
exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub agents appointed by Agent. Agent and any such sub agent may perform any and all of its duties and exercise its rights and powers by or
through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub agent and to the Related Parties of Agent and any such sub agent, and shall apply to their respective activities in connection with the
syndication of the credit facilities provided for herein as well as activities as Agent. Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of
competent jurisdiction determines in a final and nonappealable judgment that Agent acted with gross negligence or willful misconduct in the selection of such sub-agents. 

10.06. Resignation of Agent. 

(a)    Agent may at any time give notice of its resignation to Lenders, the L/C Issuer and Borrower. Upon receipt of any
such notice of resignation, the Majority Lenders shall have the right, subject to the consent of Borrower (but no such consent shall be required if a Default is then continuing), to appoint a successor, which shall be a bank with an office in the
United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives
notice of its resignation (or such earlier day as shall be agreed by the Majority Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but shall not be obligated to) on behalf of Lenders and the L/C
Issuer, appoint a successor Agent meeting the qualifications set forth above, subject to the consent of Borrower (but no such consent shall be required if a Default is then continuing). Whether or not a successor has been appointed, such resignation
shall nonetheless become effective (except that in the case of any collateral security held by the Agent on behalf of the Lenders under any of the Loan Documents, the retiring Agent shall continue to hold such collateral security until such time as
a successor Agent is appointed) in accordance with such notice on the Resignation Effective Date. 
 (b)    If the
Person serving as Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Majority Lenders may, to the extent permitted by applicable law, by notice in writing to Borrower and such Person remove such Person as Agent
and appoint a successor, subject to the consent of Borrower (but no such consent shall be required if a Default is then continuing). If no such successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment
within 30 days (or such earlier day as shall be agreed by the Majority Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective (except that in the case of any collateral security held by
the Agent on behalf of the Lenders under any of the Loan Documents, the removed Agent shall continue to hold such collateral security until such time as a successor Agent is appointed) in accordance with such notice on the Removal Effective Date.

 (c)    With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the
retiring or removed Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by Agent on behalf of the Lenders or the L/C Issuer under any of the
Loan Documents, the retiring or removed Agent shall continue to hold such collateral security until such time as a successor Agent is appointed) and (2) except for any indemnity payments owed to the retiring or removed Agent, all payments,
communications and determinations provided to be made by, to or through Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time as the Majority Lenders and 

  
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Borrower, if applicable, appoint a successor Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as Agent hereunder, such successor shall succeed to
and become vested with all of the rights, powers, privileges and duties of the retiring or removed Agent (other than any rights to indemnity payments owed to the retiring or removed Agent), and the retiring or removed Agent shall be discharged from
all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by Borrower to a successor Agent shall be the same as those payable to its
predecessor unless otherwise agreed between Borrower and such successor. After the retiring or removed Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Article and
Section 11.04 shall continue in effect for the benefit of such retiring or removed 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 the
retiring or removed Agent was acting as Agent. 
 (d)    Any resignation by Scotiabank as Agent pursuant to this Section
shall also constitute its resignation as L/C Issuer, and additionally, the L/C Issuer may resign at any time by giving 30 days’ prior notice to Agent, the Lenders and Borrower. After the resignation of the L/C Issuer hereunder, the retiring L/C
Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an L/C Issuer under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation, but shall not
be required to issue additional Letters of Credit or to extend, renew or increase any existing Letter of Credit, including, without limitation, any Letter of Credit with an auto-extend feature (for the avoidance of doubt, the retiring L/C Issuer is
authorized to notify each beneficiary of each Letter of Credit (in accordance with the terms of such Letter of Credit) that any such Letter of Credit will not be renewed, extended or increased, automatically or otherwise). Upon the acceptance of a
successor’s appointment as Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, (b) the retiring L/C Issuer shall be discharged from
all of its respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such
succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit. 

10.07. Non-Reliance on Agent and Other Lenders. Each Lender and the L/C Issuer acknowledges that it has,
independently and without reliance upon Agent or any other Lender or any of their Related Parties 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 and the L/C Issuer also acknowledges that it will, independently and without reliance upon Agent or any other Lender or any of their Related Parties 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, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

10.08. No Other Duties, Etc. Anything herein to the contrary notwithstanding, no bookrunner, Arranger or
other Lender holding a title listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as Agent, a Lender or the L/C Issuer
hereunder. 
 10.09. Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding
under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and
irrespective of whether Agent shall have made any demand on Borrower) shall be entitled and empowered (but not obligated), by intervention in such proceeding or otherwise 

  
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 (a)    to file and prove a claim for the whole amount of the principal and
interest owing and unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of Lenders, the L/C Issuer and Agent
(including any claim for the reasonable compensation, expenses, disbursements and advances of Lenders, the L/C Issuer and Agent and their respective agents and counsel and all other amounts due Lenders, the L/C Issuer and Agent under Sections
2.03(i) and (j), 2.08 and 11.04) allowed in such judicial proceeding; and 
 (b)    to collect
and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such payments to Agent and, in the event that Agent shall consent to the making of such
payments directly to Lenders and the L/C Issuer, to pay to Agent any amount due for the reasonable compensation, expenses, disbursements and advances of Agent and its agents and counsel, and any other amounts due Agent under Sections 2.09 and
11.04. 
 Nothing contained herein shall be deemed to authorize Agent to authorize or consent to or accept or adopt on behalf of any
Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize Agent to vote in respect of the claim of any Lender in any such proceeding. 

10.10. Collateral and Guarantor Matters. 

(a)    Each Lender and the L/C Issuer hereby irrevocably authorizes and directs Agent to enter into the Collateral
Documents for the benefit of such Lender and the L/C Issuer. Each Lender and the L/C Issuer hereby agrees, and each holder of any Note by the acceptance thereof will be deemed to agree, that, except as otherwise set forth in
Section 11.01, any action taken by the Majority Lenders, in accordance with the provisions of this Agreement or the Collateral Documents, and the exercise by the Majority Lenders of the powers set forth herein or therein,
together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders and the L/C Issuer. Agent is hereby authorized (but not obligated) on behalf of all of the Lenders and the L/C Issuer,
without the necessity of any notice to or further consent from any Lender or the L/C Issuer from time to time prior to, an Event of Default, to take any action with respect to any Collateral or Collateral Documents which may be necessary to perfect
and maintain perfected the Liens upon the Collateral granted pursuant to the Collateral Documents. 
 (b)    Each Lender
and the L/C Issuer (including in its capacities as a Cash Management Party and Swap Lender) hereby irrevocably authorize Agent, at its option and in its discretion (and Agent hereby agrees in the case of clauses (i) and
(iii) below), 
 (i)    to release any Lien on any property granted to or held by Agent under
any Loan Document (A) upon (I) termination of the Aggregate Commitments, (II) payment in full of all Obligations (other than (x) contingent indemnification obligations and (y) any other obligations or liabilities, which by
their terms expressly survive the termination of the Loan Documents), (III) the expiration or termination of all Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to Agent and the L/C Issuer shall have
been made) and (IV) the 

  
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payment in full of all Obligations arising from the expiration, termination or unwinding of, or the novation to a financial institution which is not a Lender of, all then existing
Lender Swap Contracts (other than those as to which other arrangements satisfactory to the applicable Swap Lender shall have been made) (the date upon which all of the matters described in the preceding subclauses (A)(I) through (A)(IV) of this
Section shall have occurred shall be herein called, the “Release Date”), (B) that is sold or to be sold as part of or in connection with any sale permitted hereunder or under any other Loan Document, (C) subject to
Section 11.01, if approved, authorized or ratified in writing by the Majority Lenders, (D) in connection with any foreclosure sale or other disposition of Collateral after the occurrence of an Event of Default, or
(E) which release is otherwise required by this Agreement; 
 (ii)    to subordinate any Lien on any
property granted to or held by Agent under any Loan Document to the holder of any Lien on such property that is permitted by this Agreement or any other Loan Document, or if necessary, release such Lien; and 

(iii)    to release any Guarantor from its obligation under any Guaranty of such Person if such Person
ceases to be a Subsidiary as a result of a transaction permitted hereunder. 
 Upon request by Agent at any time, each Lender and the L/C Issuer will
confirm in writing Agent’s authority to release or subordinate its interest in particular types or items of Collateral pursuant to this Section 10.10. 

(c)    Subject to (b) above, Agent shall (and is hereby irrevocably authorized by each Lender and the L/C Issuer to)
execute such documents as may be necessary to evidence the release or subordination of the Liens granted to Agent for the benefit of Agent and Lenders and the L/C Issuer herein or pursuant hereto upon the applicable Collateral; provided that
(i) Agent shall not be required to execute any such document on terms which, in Agent’s opinion, would expose Agent to or create any liability or entail any consequence other than the release or subordination of such Liens without recourse
or warranty and (ii) such release or subordination shall not in any manner discharge, affect or impair the Obligations or any Liens upon (or obligations of Borrower or any other Loan Party in respect of) all interests retained by Borrower or
any other Loan Party, including the proceeds of the sale, all of which shall continue to constitute part of the Collateral. In the event of any sale or transfer of Collateral, or any foreclosure with respect to any of the Collateral, Agent shall be
authorized to deduct all expenses reasonably incurred by Agent from the proceeds of any such sale, transfer or foreclosure. 

(d)    Agent shall have no obligation whatsoever to any Lender, the L/C Issuer or any other Person to assure that the
Collateral exists or is owned by Borrower or any other Loan Party or is cared for, protected or insured or that the Liens granted to Agent herein or in any of the Collateral Documents or pursuant hereto or thereto have been properly or sufficiently
or lawfully created, perfected, protected or enforced or are entitled to any particular priority, or to exercise or to continue exercising at all or in any manner or under any duty of care, disclosure or fidelity any of the rights, authorities and
powers granted or available to Agent in this Section 10.10 or in any of the Collateral Documents, it being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, Agent may
act in any manner it may deem appropriate, in its sole discretion, given Agent’s own interest in the Collateral as one of Lenders and that Agent shall have no duty or liability whatsoever to Lenders or the L/C Issuer. 

(e)    Each Lender and the L/C Issuer hereby appoints each other Lender as agent for the purpose of perfecting
Lenders’ and the L/C Issuer’s security interest in assets which, in accordance with Article 9 of the UCC can be perfected only by possession. Should any Lender or the L/C Issuer (other than Agent) obtain possession of any such Collateral,
such Lender or the L/C Issuer shall notify Agent thereof, and, promptly upon Agent’s request therefor shall deliver such Collateral to Agent or in accordance with Agent’s instructions. 

  
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 (f)    Agent shall not be responsible for or have a duty to ascertain or
inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of Agent’s Lien thereon, or any certificate prepared by any Loan Party in connection
therewith, nor shall Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 

10.11. Cash Management Agreements and Swap Contracts . No Cash Management Party or Swap Lender that obtains
the benefits of Section 9.03, any Guaranty or any Collateral by virtue of the provisions hereof or of any Guaranty or any Collateral Document shall have any right to notice of any action or to consent to, direct or object
to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) or any amendment or waiver of this Agreement or any other Loan Document, in each case other
than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article X to the contrary, the Agent shall not be required to
verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Secured Cash Management Agreements and Lender Swap Contracts unless the Agent has received written notice of such Obligations,
together with such supporting documentation as the Agent may request, from the applicable Cash Management Party or Swap Lender, as the case may be. 

ARTICLE XI. MISCELLANEOUS 

11.01. Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan
Document, and no consent to any departure by Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the Borrower or the applicable Loan Party, as the case may be, and the Majority Lenders and acknowledged by
Agent, or signed by the Borrower or the applicable Loan Party, as the case may be, and the Agent with the consent of the Majority Lenders, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose
for which given; provided, however, that no such amendment, waiver or consent shall: 
 (a)    waive any
condition set forth in Section 5.01(a) without the written consent of each Lender; provided, however, in the sole discretion of Agent, only a waiver by Agent shall be required with respect to immaterial
matters or items specified in Section 5.01(a) (iii) or (iv) with respect to which Borrower has given assurances satisfactory to Agent that such items shall be delivered promptly following the
Closing Date; 
 (b)    extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant
to Section 9.02) without the written consent of such Lender; 
 (c)    except as otherwise
provided in Article IV, increase the Borrowing Base or decrease the Monthly Reduction Amount without the written consent of each Lender, or decrease or maintain the Borrowing Base or increase or maintain the Monthly Reduction Amount without
the consent of the Required Lenders; 
 (d)    postpone any date fixed by this Agreement or any other Loan Document for
any payment (excluding mandatory prepayments) of principal, interest, fees or other amounts due to Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby; 

  
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 (e)    reduce the principal of, or the rate of interest specified herein on,
any Loan or L/C Borrowing, or (subject to clause (iii) of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document, without the written consent of each
Lender directly affected thereby; provided, however, that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of Borrower to pay interest
or L/C Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee
payable hereunder; 
 (f)    change Section 2.12 or Section 9.03 in
a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender directly affected thereby; 

(g)    change any provision of this Section or the definition of “Majority Lenders” or “Required
Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of
each Lender; or 
 (h)    release any Guarantor from any Guaranty or release the Liens on all or substantially all of
the Collateral in any transaction or series of related transactions except in accordance with the terms of any Loan Document, without the written consent of each Lender; 

and, provided further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders
required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by
Agent in addition to the Lenders required above, affect the rights or duties of Agent under this Agreement or any other Loan Document; (iii) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by
the parties thereto; and (iv) nothing contained in this Section 11.01 shall cause any waiver, amendment, modification or consent to any Lender Swap Contract or Secured Cash Management Agreement to require the consent
of the Majority Lenders. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased
or extended without the consent of such Lender. 
 Notwithstanding the foregoing and any provision in any Loan Document which requires the signatures of the
Lenders, the Required Lenders or the Majority Lenders as a condition to the effectiveness of an amendment or waiver with respect to such Loan Document, each Lender party hereto consents to the effectiveness upon execution by Agent and the applicable
Loan Party or Loan Parties of each Loan Document listed as items 8 through 13 on Schedule 5.01. 
 Notwithstanding anything herein or in any Loan
Document to the contrary, each Lender consents to each amendment, modification, supplement or waiver to (x) any Collateral Document now or hereafter executed by the Borrower and Agent, which is executed and delivered in order to add Collateral
pledged pursuant to such Collateral Document, release any Collateral in accordance with the terms hereof or update any schedules to such Collateral Document, or (y) any Loan Document now or hereafter executed by the Borrower and Agent which is
executed and delivered in order to cure an ambiguity, omission, mistake or defect in such Loan Document. 
 If (1) conditions (I), (II) and
(III) to the Release Date have been satisfied other than payment in full of all Obligations arising under clause (ii) or clause (iii) of the definition of the term “Obligations” and (2) no Loan Party has any outstanding
Indebtedness, liability or obligations in connection with a first lien 

  
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revolving credit facility that are secured by a Lien on the Collateral (or any commitment relating to any such revolving credit facility), other than (x) Obligations arising under clause
(ii) or clause (iii) of the definition of the term “Obligations” and guaranties thereof and (y) contingent indemnification obligations under any such first lien revolving credit facility, then (A) any reference to
“Lenders” or “Majority Lenders” in this Agreement or any other Loan Document with respect to rights to provide instructions to the Administrative Agent or other agents with respect to enforcement against Collateral shall be
deemed to be a reference to the Secured Parties to whom Obligations remain outstanding and any voting shall be based upon the outstanding amount of such Obligations, and (B) any reference to “Events of Default” as conditions precedent
to such enforcement rights shall be deemed to be a reference to “events of default” or “termination events,” howsoever described, under the outstanding Lender Swap Contracts or Secured Cash Management Agreements, as applicable.
The rights of the Secured Parties under Lender Swap Contracts and Secured Cash Management Agreements granted pursuant to clauses (A) and (B) of the preceding sentence shall immediately terminate if (x) clause (1) of the preceding sentence
is at any time not true, or (y) both of the following conditions are fulfilled at any time: (I) clause (2) of the preceding sentence is at any time not true, and (II) the Obligations owed to such Secured Parties are secured equally
and ratably in the Collateral with the Indebtedness, liabilities and obligations under such first lien revolving credit facility. 

11.02. Notices; Effectiveness; Electronic Communications. 

(a)    Notices Generally. Except in the case of notices and other communications expressly permitted to be given by
telephone (and except as provided in subsection (b) below), all 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 facsimile or delivered by electronic mail as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i)    if to Borrower, Agent or the L/C Issuer, to the address, facsimile number, electronic mail address
or telephone number specified for such Person on Schedule 11.02; and 
 (ii)    if to any other
Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire. 
 Notices and other
communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when sent
(except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic
communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 

(b)    Electronic Communications. Notices and other communications to Lenders and the L/C Issuer hereunder may be
delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by Agent, provided that the foregoing shall not apply to notices to any
Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable has notified the Agent that it is incapable of receiving notices under such Article by electronic communication. Agent or Borrower may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. Unless
Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such

  
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as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), and (ii) notices or
communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of
notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice or other communication is not sent during the normal business
hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 

(c)    The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS
DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED
OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN
CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to Borrower, any Lender, the L/C Issuer or any other Person
for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of Borrower’s or Agent’s transmission of Borrower Materials through the Internet and/or Platform, except to the extent
that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party;
provided, however, that in no event shall any Agent Party have any liability to Borrower, any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or
actual damages). 
 (d)    Change of Address, Etc. Each of the Borrower, Agent and the L/C Issuer may change its
address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, facsimile or telephone number for notices and other communications hereunder by
notice to Borrower, Agent and the L/C Issuer. In addition, each Lender agrees to notify Agent from time to time to ensure that Agent has on record (i) an effective address, contact name, telephone number, facsimile number and
electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such
Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public
Lender’s compliance procedures and applicable Law, including United States Federal and state securities Laws, to make reference to Borrower Materials that are not made available through the “Public Side Information” portion of the
Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities Laws. 

(e)    Reliance by Agent. L/C Issuer and Lenders. Agent, the L/C Issuer and Lenders shall be entitled to
rely and act upon any notices (including telephonic Loan Notices) purportedly given by or on behalf of Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other
form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. Borrower shall indemnify Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all
losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of Borrower. All telephonic notices to and other telephonic communications with Agent may be recorded by Agent, and
each of the parties hereto hereby consents to such recording. 

  
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 11.03. No Waiver; Cumulative Remedies; Enforcement. No failure by any
Lender, the L/C Issuer or Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by Law. 
 Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be
instituted and maintained exclusively by, Agent in accordance with Section 9.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) Agent from exercising
on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer from exercising the rights and remedies that inure to its benefit (solely in
its capacity as L/C Issuer) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 11.08 (subject to the terms of Section 2.12),
or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no
Person acting as Agent hereunder and under the other Loan Documents, then (i) the Majority Lenders shall have the rights otherwise ascribed to Agent pursuant to Section 9.02 and (ii) in addition to the matters set
forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.12, any Lender may, with the consent of the Majority Lenders, enforce any rights and remedies available to it and as authorized by the
Majority Lenders. 
 11.04. Expenses; Indemnity; Damage Waiver. 

(a)    Costs and Expenses. Borrower shall pay (i) all out of pocket expenses incurred by Agent, Arranger and
their Affiliates (including the reasonable fees, charges and disbursements of counsel for Agent and Arranger), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and
administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable
out of pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by Agent, Arranger, any Lender or the L/C Issuer (including engineering charges and the fees, charges and disbursements of any counsel for Agent, Arranger, any Lender or the
L/C Issuer), and shall pay all fees and time charges for attorneys who may be employees of Agent, Arranger, any Lender or the L/C Issuer, in connection with the enforcement or protection of its rights (A) in connection with this Agreement and
the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b)    Indemnification by the Borrower. Borrower shall indemnify Agent (and any
sub-agent thereof), Arranger, each Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and 

  
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 disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all
fees and time charges and disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any third party or by Borrower or any other Loan Party arising out of, in connection with,
or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or
thereunder, or the consummation of the transactions contemplated hereby or thereby, or, in the case of Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and
the other Loan Documents (including in respect of any matters addressed in Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to
honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on
or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto, IN ALL
CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such
losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or
(y) result from a claim brought by Borrower or any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if Borrower or such Loan Party has obtained a
final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. Borrower shall also pay any civil penalty or fine assessed by OFAC against, and all costs and expenses (including counsel fees and
disbursements) incurred in connection with defense thereof, by Agent and/or the Lenders as a result of conduct by Borrower that violated a sanction enforced by OFAC. This Section 11.04(b). shall not apply with respect to
Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 

(c)    Reimbursement by Lenders. To the extent that Borrower for any reason fails to indefeasibly pay any amount
required under subsection (a) or (b) of this Section to be paid by it to Agent (or any sub-agent thereof), Arranger, the L/C Issuer or any Related Party of any of the foregoing, each Lender severally
agrees to pay to Agent (or any such sub-agent), Arranger, the L/C Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender), 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 Agent (or any such sub-agent), Arranger or the L/C Issuer in its capacity as such, or against any Related Party of any of the
foregoing acting for Agent (or any such sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of
Section 2.11(c). 
 (d)    Waiver of Consequential Damages, Etc. To the fullest extent
permitted by applicable law, Borrower shall not assert, and 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, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof.
No Indemnitee referred to in subsection (b) above 

  
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shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through
telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the
gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of competent jurisdiction. 

(e)    Payments. All amounts due under this Section shall be payable not later than ten Business Days after demand
therefor. 
 (f)    Survival. The agreements in this Section shall survive the resignation of Agent and the L/C
Issuer, the replacement of any Lender, the termination of the Aggregate Commitments and the occurrence of the Release Date. 

11.05. Payments Set Aside. To the extent that any payment by or on behalf of Borrower is made to Agent, the L/C Issuer or
any Lender, or Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then
(a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and
(b) each Lender and the L/C Issuer severally agrees to pay to Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by Agent, plus interest thereon from the date of such demand to the date such
payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations
and the termination of this Agreement. 
 11.06. Successors and Assigns. 

(a)    Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Agent and
each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation
in accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted assignment or
transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby,
Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim
under or by reason of this Agreement. 
 (b)    Assignments by Lenders. Any Lender may at any time assign to one
or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its 

  
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Commitment and the Loans (including for purposes of this subsection (b), participations in L/C Obligations) at the time owing to it); provided that any such assignment shall be subject to
the following conditions: 
 (i)    Minimum Amounts. 

(A)    in the case of an assignment of the entire remaining amount of the assigning Lender’s
Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B)    in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the
Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date
the Assignment and Assumption with respect to such assignment is delivered to Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of Agent and, so
long as no Event of Default has occurred and is continuing, Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided, however, that concurrent assignments to members of an Assignee Group and
concurrent assignments from members of an Assignee Group to a single assignee (or to an assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met. 

(ii)    Proportionate Amounts. Each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned; 

(iii)    Required Consents. No consent shall be required for any assignment except to the extent
required by subsection (b)(i)(B) of this Section and, in addition: 
 (A)    the consent of
Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a
Lender or an Approved Fund (provided that Borrower shall be deemed to have consented to such assignment unless it shall object thereto by written notice to Agent within ten (10) Business Days after having received notice thereof); 

(B)    the consent of Agent shall be required if such assignment is to a Person that is not a Lender, an
Affiliate of such Lender or an Approved Fund with respect to such Lender; and 
 (C)    the consent of
the L/C Issuer shall be required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); 

(iv)    Assignment and Assumption. The parties to each assignment shall execute and deliver to Agent
an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any
assignment. The assignee, if it is not a Lender, shall deliver to Agent an Administrative Questionnaire. 

(v)    No Assignment to Certain Persons. No such assignment shall be made to (A) the Borrower
or any of the Borrower’s Affiliates or Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause
(B). 

  
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 (vi)    No Assignment to Natural Persons. No such
assignment shall be made to a natural person. 
 (vii)    Certain Additional Payments. In
connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall
make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and
assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the L/C Issuer and each other Lender hereunder (and interest accrued thereon), and
(y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and
obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of
this Agreement until such compliance occurs. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of
this Section, from and after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the
rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of
an Assignment and Assumption covering all of the 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 3.01,
3.04, 3.05, and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment, provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a
Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does
not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section. Upon request, the Borrower (at its
expense) shall execute and deliver a Note to the assignee Lender. 
 (c)    Register. The Agent, acting solely
for this purpose as an agent of the Borrower, shall maintain at the Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of,
and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive (absent
manifest error), and the Borrower, the 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 and any Lender at any reasonable time and from time to time upon reasonable prior notice. 

  
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 (d)    Participations. Any Lender may at any time, without the consent
of, or notice to, the Borrower or the Agent, sell participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such
Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations) owing to it); provided 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 and (iii) the Borrower, the Agent, the Lenders and the L/C Issuer
shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under
Section 11.04(c) without regard to the existence of any participation. 
 Any agreement or instrument pursuant to
which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 11.01 that affects such Participant.
Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest
by assignment pursuant to subsection (b) of this Section and shall be subject to Section 11.07. To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 11.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.12 as though it were a Lender. Each Lender that sells a participation shall, acting solely for
this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s
interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any
Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish
that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be
conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the
avoidance of doubt, the Agent (in its capacity as Agent) shall have no responsibility for maintaining a Participant Register. 

(e)    Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment
under Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made
with the Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Borrower is notified of the participation
sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.01(e) as though it were a Lender. 

(f)    Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any other central bank having jurisdiction over such
Lender; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

  
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 (g)    Reserved. 

(h)    Resignation as L/C Issuer after Assignment. Notwithstanding anything to the contrary contained herein, if at
any time Scotiabank assigns all of its Commitment and Loans pursuant to subsection (b) above, Scotiabank may, upon thirty (30) days’ notice to the Borrower and the Lenders, resign as L/C Issuer. In the event of any such resignation as
L/C Issuer, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Scotiabank
as L/C Issuer. If Scotiabank resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer
and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). Upon the appointment of a
successor L/C Issuer, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, and (b) the successor L/C Issuer shall issue letters of credit in substitution
for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Scotiabank to effectively assume the obligations of Scotiabank with respect to such Letters of Credit. 

11.07. Treatment of Certain Information; Confidentiality. Each of Agent, Lenders and the L/C Issuer agrees to maintain
the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being 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, purporting to have jurisdiction over such Person or its Related Parties (including any
self-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) to any other party hereto, (e) in
connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an
agreement containing provisions substantially the same as those of this Section in favor of Borrower, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this
Agreement or (ii) any actual or prospective counterparty (or its Related Parties) to any swap or derivative or other transaction under which payments are to be made by reference to Borrower and its obligations, this Agreement or payments
hereunder, (g) with the consent of Borrower, (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to Agent, any Lender, the L/C Issuer or
any of their respective Affiliates on a nonconfidential basis from a source other than Borrower, or (i) on a confidential basis to (x) any rating agency in connection with rating Borrower or its Subsidiaries or the Loans, or (y) the
CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Loans. For purposes of this Section, “Information” means all information received from or
on behalf of Borrower or any Subsidiary relating to Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to
disclosure by Borrower or any Subsidiary, provided that, in the case of Information received after the date hereof, such information is clearly identified at the time of delivery as confidential. Notwithstanding the foregoing,
“Information” shall not include, and Agent and each Lender may disclose without limitation of any kind, any information with respect to “tax treatment” and “tax structure” (in each case, within the meaning of Treasury
Regulations Section 1.6011-4) of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that are provided to Agent or such Lender relating to such
tax treatment and tax structure; provided that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall
apply only to 

  
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such portions of the document or similar item that relate to the tax treatment or tax structure of the Loans, Letters of Credit and transactions contemplated hereby. Any Person required to
maintain the confidentiality of Information as provided in this Section 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 to its own confidential information. Each of Agent, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material non-public information concerning the
Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including Federal and state securities Laws. 

11.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and
each of their respective Affiliates is hereby authorized at any time and from time to time, after obtaining the prior written consent of Agent, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or
special, time or demand, provisional or final, in whatever currency, but excluding deposits held in any account designated as a fiduciary account) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the
L/C Issuer or any such Affiliate to or for the credit or the account of Borrower or any other Loan Party against any and all of the obligations of Borrower or such Loan Party now or hereafter existing under this Agreement (including without
limitation obligations under Swap Contracts) or any other Loan Document to such Lender or the L/C Issuer or any such Affiliate, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under this Agreement or any other
Loan Document and although such obligations of Borrower or such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the branch or office holding such deposit or obligated on
such indebtedness; provided that in the event that any Defaulting Lender shall exercise any such right of set-off, (x) all amounts so set off shall be paid over immediately to the Agent for
further application in accordance with the provisions of Section 2.15 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Agent, the
L/C Issuer, and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of set-off.The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer
or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify Borrower and Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such
setoff and application. 
 11.09. Interest Rate Limitation. It is the intention of the parties hereto to conform
strictly to Applicable Usury Laws regarding the use, forbearance or detention of the indebtedness evidenced by this Agreement, the Notes and the other Loan Documents, whether such Laws are now or hereafter in effect, including the Laws of the United
States of America or any other jurisdiction whose Laws are applicable, and including any subsequent revisions to or judicial interpretations of those Laws, in each case to the extent they are applicable to this Agreement, the Notes and the other
Loan Documents (the “Applicable Usury Laws”). Accordingly, if any acceleration of the maturity of the Notes or any payment by Borrower or any other Person produces a rate in excess of the Maximum
Amount or otherwise results in Borrower or such other Person being deemed to have paid any interest in excess of the Maximum Amount, or if Agent or any of the Lenders shall for any reason receive any unearned interest in violation of any Applicable
Usury Laws, or if any transaction contemplated hereby would otherwise be usurious under any Applicable Usury Laws, then, in that event, regardless of any provision contained in this Agreement or any other Loan Document or other agreement or
instrument executed or delivered in connection herewith, the provisions of this Section 11.09 shall govern and control, and neither Borrower nor any other Person shall be obligated to pay, or apply in any manner to, any
amount that would be excessive interest. Agent or the Lenders shall never be deemed to have contracted for or be entitled to receive, 

  
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collect, charge, reserve or apply as interest on any Loan (whether termed interest therein or deemed to be interest by judicial determination or operation of law), any amount in excess of the
Maximum Amount, and, in the event that Agent or any of the Lenders ever receive, collect, or apply as interest any such excess, such amount which would be excessive interest shall be applied as a partial prepayment of principal and treated hereunder
as such, and, if the principal amount of the applicable Loans are paid in full, any remaining excess shall forthwith be paid to Borrower. In determining whether or not the interest contracted for, received, collected, charged reserved, paid or
payable, including under any specific contingency, exceeds the Maximum Amount, Borrower, Agent and the Lenders shall, to the maximum extent permitted under applicable law, (i) characterize any non principal payment (other than payments which
are expressly designated as interest payments hereunder) as an expense or fee rather than as interest, (ii) exclude voluntary prepayments and the effect thereof, and (iii) amortize and spread the total amount of interest throughout the
entire stated term of the Loans so that the interest rate is uniform throughout such term; provided that if the Loans are paid in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of
existence thereof exceeds the Maximum Amount, if any, then Agent or the Lenders shall refund to Borrower the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all Loans made by Agent or the
Lenders. As used herein, the term “Maximum Amount” means the maximum nonusurious amount of interest which may be lawfully contracted for, reserved, charged, collected or received by Agent or such Lender in connection with the
indebtedness evidenced by this Agreement, the Notes and other Loan Documents under all Applicable Usury Laws, and the term “Maximum Rate” has a corresponding meaning. Texas Finance Code, Chapter 346, which regulates certain
revolving loan accounts and revolving tri-party accounts, shall not apply to any revolving loan accounts created under, or apply in any manner to, the Notes, this Agreement or the other Loan Documents. 

11.10. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 5.01, this Agreement shall become
effective when it shall have been executed by Agent and when Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of
this Agreement by facsimile or other electronic imaging means (including PDF) shall be effective as delivery of a manually executed counterpart of this Agreement. 

11.11. Survival of Representations and Warranties. All representations and warranties made hereunder and in any other
Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by Agent
and each Lender, regardless of any investigation made by Agent or any Lender or on their behalf and notwithstanding that Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in
full force and effect until the Release Date. 
 11.12. Severability. If any provision of this Agreement or the other
Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the
parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.
The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

  
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 11.13. Legal Representation of Agent. In connection with the negotiation,
drafting and execution of this Agreement and the other Loan Documents, or in connection with future legal representation relating to loan administration, amendments, modifications, waivers, or enforcement of remedies, Winstead PC only has
represented and only shall represent Scotiabank in its capacity as Agent and as a Lender. Each other Lender hereby acknowledges that Winstead PC does not represent it in connection with any such matters. 

11.14. Replacement of Lenders. If any of the following occur: 

(i)    any Lender or any Participant request compensation under Section 3.04,

 (ii)    Borrower is required to pay any additional amount to any Lender or any Governmental Authority
for the account of any Lender or Participant pursuant to Section 3.01, 

(iii)    any Lender is a Defaulting Lender, or 

(iv)    any Lender does not vote in favor of an amendment or waiver that requires the consent or vote of
each of the Lenders and is approved by the Majority Lenders (a “Non-Consenting Lender”), 

then Borrower may, at its sole expense and effort, upon notice to such Lender and/or Participant and the Agent, require such Lender and/or
Participant to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 11.06), all of its interests, rights (other than its existing rights
to payments pursuant to Section 3.01 or Section 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee
may be another Lender, if a Lender accepts such assignment), provided that: 
 (a)    Borrower shall have paid to
the Agent the assignment fee specified in Section 11.06(b); 
 (b)    such Lender and/or
Participant shall have received payment of an amount equal to the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including
any amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or Borrower (in the case of all other amounts); 

(c)    in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 

(d)    such assignment does not conflict with applicable Laws; and 

(e)    in the case of any assignment resulting from a Lender becoming a
Non-Consenting Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent. 

A Lender or Participant shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such
Lender or Participant or otherwise, the circumstances entitling Borrower to require such assignment and delegation cease to apply. Notwithstanding the foregoing, a Lender shall not be required to make any such assignment and delegation if such
Lender (or its Affiliate) is a Swap Lender with any outstanding Lender Swap Contract, unless on the date thereof or prior thereto, all such Lender Swap Contracts have been terminated or novated to another Person and such Lender (or its
Affiliate) shall have received payment of all amounts, if any, payable to it in connection with such termination or novation. 

  
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 11.15. Governing Law; Jurisdiction; Etc. 

(a)    GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
TEXAS. 
 (b)    SUBMISSION TO JURISDICTION. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND
UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF TEXAS SITTING IN HARRIS COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT, AND ANY APPELLATE COURT FROM ANY
THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN
RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH TEXAS STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE 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 OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT AGENT, ANY LENDER OR THE
L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c)    WAIVER OF VENUE. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN
PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d)    SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR
NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

11.16. Waiver of Right to Trial by Jury. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN

  
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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 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 11.17. USA PATRIOT Act
Notice. Each Lender that is subject to the Act (as hereinafter defined) and Agent (for itself and not on behalf of any Lender) hereby notifies Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies Borrower, which information includes the name and address of Borrower
and other information that will allow such Lender or Agent, as applicable, to identify Borrower in accordance with the Act. Borrower shall, promptly following a request by Agent or any Lender, provide all documentation and other information that
Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act. 

11.18. No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby
(including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), Borrower and each other Loan Party acknowledges and agrees that: (i) (A) the arranging and other services regarding this Agreement
provided by Agent and the Arranger, are arm’s-length commercial transactions between Borrower and each other Loan Party, on the one hand, and Agent and the Arranger, on the other hand, (B) each of
Borrower and the other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) Borrower and each other Loan Party is capable of evaluating, and understands and accepts,
the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) Agent and the Arranger, each is and has been acting solely as a principal and, except as expressly agreed in writing by the
relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for Borrower, any other Loan Party, or any other Person and (B) neither Agent nor the Arranger has any obligation to Borrower and any other Loan
Party with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) Agent and the Arranger and their respective Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of Borrower, the other Loan Parties, and neither Agent nor the Arranger has any obligation to disclose any of such interests to Borrower or any other Loan Party. To the fullest extent
permitted by law, each of Borrower and the other Loan Parties hereby waives and releases any claims that it may have against Agent and the Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection with any
aspect of any transaction contemplated hereby. 
 11.19. Electronic Execution of Assignments. The words
“execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic
signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state Laws based on the Uniform Electronic
Transactions Act. 
 11.20. Concerning Swap Contracts . Until the Release Date, the benefit of the Collateral
Documents and of the provisions of this Agreement relating to any collateral securing the Obligations shall also extend to and be available to any Swap Lenders which are counterparties to any Lender Swap Contract on a pro rata basis in respect of
any obligations of Borrower or any of its Subsidiaries which arise under any such Lender Swap Contract; provided the benefits of this Agreement shall not apply to, 

  
 CREDIT AGREEMENT – Page
107 

 
and the Collateral Documents shall not secure, trades, confirmations and swap transactions which are entered into after such Lender ceases to be a Lender or such Affiliate ceases to be an
Affiliate of such Lender under this Agreement. No Swap Lender shall have any voting rights under any Loan Document as a result of the existence of obligations owed to it under any such Lender Swap Contract, except with respect to Collateral to
the extent, and only to the extent, set forth in the final paragraph of Section 11.01. All Lender Swap Contracts, if any, are independent agreements governed by the written
provisions of said Lender Swap Contracts, which will remain in full force and effect, unaffected by any repayment, prepayment, acceleration, reduction, increase or change in the terms of the Loan or this Agreement, except as otherwise expressly
provided in said Lender Swap Contract, and any payoff statement from any Lender relating to this Agreement shall not apply to said Lender Swap Contracts except as otherwise expressly provided in such payoff statement. 

11.21. Concerning Cash Management Agreements. Until the Release Date, the benefit of the Collateral Documents and the
provisions of this Agreement relating to any collateral securing the Obligations shall also extend to and be available to any Cash Management Party which is a party to a Secured Cash Management Agreement on a pro rata basis in respect of any
obligations of Borrower or any of its Subsidiaries which may arise thereunder. The benefits of this Agreement shall not apply to, and the Collateral Documents shall not secure, the Cash Management Obligations of any Cash Management Party that ceases
to be a Lender or an Affiliate of a Lender under this Agreement. No Cash Management Party shall have any voting rights under any Loan Document as a result of the existence of obligations owed to it under any Secured Cash Management Agreement,
except with respect to Collateral to the extent, and only to the extent, set forth in the final paragraph of Section 11.01. All Secured Cash Management
Agreements, if any, are independent agreements governed by the written provisions of said Secured Cash Management Agreement, which remain in full force and effect, unaffected by any repayment, prepayment, acceleration, reduction, increase or change
in the terms of the Loan or this Agreement, except as otherwise expressly provided in said Secured Cash Management Contract. Any payoff statement from any Lender relating to this Agreement shall not apply to a Secured Cash Management Contract,
except as otherwise expressly provided in said payoff statement. 
 11.22. Time of the Essence. Time is of the essence
of the Loan Documents. 
 11.23. Entire Agreement. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

11.24. Excluded Swap Obligations. Notwithstanding any other provisions of this Agreement or any other Loan
Document, Obligations guaranteed by any Guarantor, or secured by the grant of any Lien by such Guarantor under any Collateral Document, shall exclude all Excluded Swap Obligations with respect to such Guarantor. 

11.25. Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any
Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is
unsecured, may be subject to 

  
 CREDIT AGREEMENT – Page
108 

 the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges
and agrees to be bound by: 
 (a)    the application of any Write-Down and Conversion Powers by an EEA Resolution
Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

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

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

[This space is left intentionally blank. Signature pages follow.] 

  
 CREDIT AGREEMENT – Page
109 

 SCHEDULE 2.01 

Commitments and Applicable Percentages 
  

																	
	 Lender
	  	Applicable
Percentage	 	 	Borrowing Base as
of Eleventh
Amendment
Effective Date	 	  	Elected Commitment
Amount as of
Eleventh Amendment
Effective Date	 	  	Maximum Facility
Amount	 
	 The Bank of Nova Scotia
	  	 	10.000000000	% 	 	$	120,000,000	 	  	$	100,000,000	 	  	$	150,000,000	 
	 KeyBank National Association
	  	 	8.500000000	% 	 	$	102,000,000	 	  	$	85,000,000	 	  	$	127,500,000	 
	 PNC Bank, National Association
	  	 	8.500000000	% 	 	$	102,000,000	 	  	$	85,000,000	 	  	$	127,500,000	 
	 Credit Suisse AG, Cayman Islands Branch
	  	 	6.500000000	% 	 	$	78,000,000	 	  	$	65,000,000	 	  	$	97,500,000	 
	 Barclays Bank PLC
	  	 	6.500000000	% 	 	$	78,000,000	 	  	$	65,000,000	 	  	$	97,500,000	 
	 Wells Fargo Bank, N.A.
	  	 	6.500000000	% 	 	$	78,000,000	 	  	$	65,000,000	 	  	$	97,500,000	 
	 Compass Bank
	  	 	6.500000000	% 	 	$	78,000,000	 	  	$	65,000,000	 	  	$	97,500,000	 
	 U.S. Bank National Association
	  	 	6.500000000	% 	 	$	78,000,000	 	  	$	65,000,000	 	  	$	97,500,000	 
	 JPMorgan Chase Bank, N.A.
	  	 	6.500000000	% 	 	$	78,000,000	 	  	$	65,000,000	 	  	$	97,500,000	 
	 Commonwealth Bank of Australia
	  	 	5.000000000	% 	 	$	60,000,000	 	  	$	50,000,000	 	  	$	75,000,000	 
	 ZB, N.A. dba Amegy Bank
	  	 	5.000000000	% 	 	$	60,000,000	 	  	$	50,000,000	 	  	$	75,000,000	 
	 ABN AMRO Capital USA LLC
	  	 	3.500000000	% 	 	$	42,000,000	 	  	$	35,000,000	 	  	$	52,500,000	 
	 IberiaBank
	  	 	3.500000000	% 	 	$	42,000,000	 	  	$	35,000,000	 	  	$	52,500,000	 
	 Morgan Stanley Senior Funding, Inc.
	  	 	3.500000000	% 	 	$	42,000,000	 	  	$	35,000,000	 	  	$	52,500,000	 
	 BOKF, NA dba Bank of Oklahoma
	  	 	3.500000000	% 	 	$	42,000,000	 	  	$	35,000,000	 	  	$	52,500,000	 
	 Fifth Third Bank
	  	 	3.500000000	% 	 	$	42,000,000	 	  	$	35,000,000	 	  	$	52,500,000	 
	 Canadian Imperial Bank of Commerce, New York Branch
	  	 	3.500000000	% 	 	$	42,000,000	 	  	$	35,000,000	 	  	$	52,500,000	 
	 Associated Bank, N.A.
	  	 	3.000000000	% 	 	$	36,000,000	 	  	$	30,000,000	 	  	$	45,000,000	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 TOTAL:
	  	 	100.000000000	% 	 	$	1,200,000,000	 	  	$	1,000,000,000	 	  	$	1,500,000,000	 

  
 SCHEDULE 2.01, Commitments and
Applicable Percentages – Page 1 

 EXHIBIT J 

[RESERVED] 

  
 EXHIBIT J, [Reserved] 

 EXHIBIT L 

FORM OF ELECTED COMMITMENT INCREASE CERTIFICATE 

[            ], 20[    ] 

 

	To:	The Bank of Nova Scotia, as Administrative Agent 

 The Borrower, the Administrative Agent and certain Lenders
and other agents have heretofore entered into an Amended and Restated Credit Agreement, dated as of December 27, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).
Capitalized terms not otherwise defined herein shall have the meaning given to such terms in the Credit Agreement. 
 This Elected Commitment Increase
Certificate is being delivered pursuant to Section 2.05(b)(ii)(F) of the Credit Agreement. 
 Please be advised that the
undersigned Lender has agreed (a) to increase its Elected Commitment Amount under the Credit Agreement effective [            ], 20[    ] from
$[        ] to $[        ] and (b) that it shall continue to be a party in all respects to the Credit Agreement and the other Loan Documents. 

 

					
	Very truly yours,
	
	GULFPORT ENERGY CORPORATION
		
	By:	 	  

		 	Name:	 	                                     
                                   
		 	Title:	 	                                     
                                   
	
	[INCREASING LENDER]
		
	By:	 	  

		 	Name:	 	                                     
                                   
		 	Title:	 	                                     
                                   
	
	ACCEPTED AND AGREED:
	THE BANK OF NOVA SCOTIA, as Administrative Agent
		
	By:	 	  

		 	Name:	 	                                     
                                   
		 	Title:	 	                                     
                                   

  
 EXHIBIT L, Form of Elected Commitment
Increase Certificate – Page 1 

 EXHIBIT M 

FORM OF ADDITIONAL LENDER CERTIFICATE 

[            ], 20[    ] 

 

	To:	The Bank of Nova Scotia, National Association, as Administrative Agent 

 The Borrower, the Administrative Agent
and certain Lenders and other agents have heretofore entered into an Amended and Restated Credit Agreement, dated as of December 27, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”). Capitalized terms not otherwise defined herein shall have the meaning given to such terms in the Credit Agreement. 
 This
Additional Lender Certificate is being delivered pursuant to Section 2.05(b)(ii)(G) of the Credit Agreement. 
 Please be advised
that the undersigned Additional Lender has agreed (a) to become a Lender under the Credit Agreement effective [            ], 20[    ] with an Elected
Commitment Amount of $[        ] and (b) that it shall be a party in all respects to the Credit Agreement and the other Loan Documents. 

This Additional Lender Certificate is being delivered to the Administrative Agent together with (i) if the Additional Lender is a Foreign Lender, any
documentation required to be delivered by such Additional Lender pursuant to Section 3.01(g) of the Credit Agreement, duly completed and executed by the Additional Lender, and (ii) an Administrative Questionnaire in
the form supplied by the Administrative Agent, duly completed by the Additional Lender. [The Borrower shall pay the fee payable to the Administrative Agent pursuant to Section 2.05(b)(ii)(G) of the Credit Agreement.] 

 

					
	Very truly yours,
	
	GULFPORT ENERGY CORPORATION
		
	By:	 	  

		 	Name:	 	                                     
                                   
		 	Title:	 	                                     
                                   
	
	[ADDITIONAL LENDER]
		
	By:	 	  

		 	Name:	 	                                     
                                   
		 	Title:	 	                                     
                                   

  
 EXHIBIT M, Form of Elected Commitment
Increase Certificate – Page 1 

					
	ACCEPTED AND AGREED:
	THE BANK OF NOVA SCOTIA, as Administrative Agent
		
	By:	 	  

		 	Name:	 	                                     
                                   
		 	Title:	 	                                     
                                   

  
 EXHIBIT M, Form of Elected Commitment
Increase Certificate – Page 2 

 SCHEDULE 1.01 

Designated Investment Entities 

(all information as of November 21, 2017) 
  

							
	 Name
	  	Number of Shares or
Percentage Ownership	 	 	 Principal Business Activity

	 Blackhawk Midstream LLC
	  	 	48.5	% 	 	Previously coordinated gathering, compression, processing and marketing activities for the Company in connection with the development of its Utica Shale acreage.
			
	 Grizzly Oil Sands ULC
	  	 	24.9999	% 	 	Owns leasehold interests in the oil sands regions of Alberta, Canada and is engaged in the development and production of such leasehold interests.
			
	 Tatex Thailand II, LLC
	  	 	23.5	% 	 	Owns interests in APICO, LLC, an international oil and gas exploration company.
			
	 Tatex Thailand III, LLC
	  	 	17.9	% 	 	Previously owned a concession in Southeast Asia.
			
	 Timber Wolf Terminals LLC
	  	 	50	% 	 	Formed to operate a crude/condensate terminal and a sand transloading facility in Ohio.
			
	 Windsor Midstream LLC
	  	 	22.5	% 	 	Previously owned an interest in Coronado Midstream LLC, a gas processing plant in West Texas.

  
 SCHEDULE 1.01, Designated Investment
Entities – Page 1 

 SCHEDULE 6.06 

LITIGATION 
 None. 

  
 SCHEDULE 6.06, Litigation – Page 1

 SCHEDULE 6.09 

ENVIRONMENTAL MATTERS 
 None. 

  
 SCHEDULE 6.09, Environmental Matters
– Solo Page 

 SCHEDULE 8.01 

EXISTING LIENS 
  

	1.	Liens pursuant to the Interbank mortgage on the Oklahoma City headquarters. 

  

	2.	The Texaco Lien securing indebtedness with an approximate current estimated outstanding net balance of $250,000. 

  

	3.	Liens identified in the title opinions relating to the Mortgaged Properties previously provided to Agent. 

  

	4.	Lien evidenced by UCC-1 Financing Statement naming Gulfport Energy Corporation, as Debtor, and Bank of Nova Scotia, as Secured Party, originally filed in the State of Delaware on
March 14, 2005, naming Bank of America as Secured Party, with initial file number 2005-0853433 and assigned to Bank of Nova Scotia on August 2, 2012, in connection with a $30,000,000 Secured Reducing Credit Agreement. 

  
 SCHEDULE 8.01, Existing Liens –
Solo Page 

 SCHEDULE 8.03 

EXISTING INDEBTEDNESS 
  

	1.	Interbank mortgage on Oklahoma City headquarters. 

  

	2.	Indebtedness secured by Liens set forth on Schedule 8.01. 

  
 SCHEDULE 8.03, Existing Indebtedness
– Solo Page 

 SCHEDULE 11.02 

ADMINISTRATIVE AGENT’S OFFICE, 

CERTAIN ADDRESSES FOR NOTICES 

BORROWER: 
 Gulfport Energy Corporation 

3001 Quail Springs Parkway 
 Oklahoma City, OK 73134 

Attention: Ms. Keri Crowell, Chief Financial Officer 

Telephone: (405) 252-4600 

Facsimile: (405) 252-4901 

Electronic Mail: kcrowell@gulfportenergy.com 

ADMINISTRATIVE AGENT: 
 Administrative Agent’s
Office for General Notices 
 The Bank of Nova Scotia 

711 Louisiana, Suite 1400 
 Houston, Texas 77002 

Attention: Mr. Ryan Knape, Director 
 Telephone: 713-759-3463 
 Facsimile: 713-752-2425 
 Electronic Mail: ryan.knape@scotiabank.com 

Administrative Agent’s Office for Borrowings, Rollovers and Letter of Credit Requests 

The Bank of Nova Scotia 
 720 King Street West, 2nd Floor 

Toronto, Ontario 
 Canada M5V2T3 

GWO - US Lending Services Operations 

Attention: Mr. Nazmul Arefin 
 Telephone: 212-225-5705 
 Facsimile: 212-225-5709 
 Electronic Mail: Nazmul. Arefin@scotiabank.com 

Administrative Agent’s Additional Office for Letter of Credit Requests 

The Bank of Nova Scotia 
 250 Vesey Street New York, NY 10281165
Broadway 
 Attention: Mr. Daniel Santiago, Senior Manager, NY Trade Service Center 

Telephone: 212-225-5418 

Electronic Mail: daniel.santiago@scotiabank.com 

 Administrative Agent’s Wire Instructions for Payment 

The Bank of Nova Scotia, New York Agency 
 ABA # 0260-0253-2 
 Account # 0617431 

Reference: Gulfport Energy Corporation 
 Attention: Loan
Operations – Nazmul Arefin/Jamie Breese

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