Document:

Exhibit 4.2

  

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS
AGREEMENT, dated September 18, 2014 (this “Agreement”), is entered into by and among Ultra Petroleum Corp.,
a Yukon, Canada corporation (the “Company”), and the several Purchasers listed in Schedule I to the Purchase
Agreement (defined below) (collectively, the “Initial Purchasers”) for whom Goldman, Sachs & Co. is acting
as representative (the “Representative”).

 

The Company and the
Initial Purchasers are parties to the Purchase Agreement, dated September 4, 2014 (the “Purchase Agreement”),
by and among the Company and the Initial Purchasers, which provides for the sale by the Company to the Initial Purchasers of $850,000,000
aggregate principal amount of the Company’s 6.125% Senior Notes due 2024 (the “Securities”). As an inducement
to the Initial Purchasers to enter into the Purchase Agreement, the Company has agreed to provide to the Initial Purchasers and
their direct and indirect transferees the registration rights set forth in this Agreement. The execution and delivery of this Agreement
is a condition to the closing under the Purchase Agreement.

 

In consideration of
the foregoing, the parties hereto agree as follows:

 

1.          Definitions.
As used in this Agreement, the following terms shall have the following meanings:

 

“Business
Day” shall mean any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized
or required by law to remain closed.

 

“Company”
shall have the meaning set forth in the preamble and shall also include the Company’s successors.

 

“DTC”
shall mean the Depository Trust Company.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

 

“Exchange
Dates” shall have the meaning set forth in Section 2(a)(ii) hereof.

 

“Exchange
Offer” shall mean the exchange offer by the Company of Exchange Securities for Registrable Securities pursuant to Section
2(a) hereof.

 

“Exchange
Offer Registration” shall mean a registration under the Securities Act effected pursuant to Section 2(a) hereof.

 

“Exchange
Offer Registration Statement” shall mean an exchange offer registration statement on Form S-4 (or, if applicable, on
another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus
contained therein, all exhibits thereto and any document incorporated by reference therein.

 

    	 

    	 

    

  

“Exchange
Securities” shall mean the Company’s 6.125% Senior Notes due 2024 and, to the extent the Securities are guaranteed
by any of the Company’s subsidiaries under the Indenture, the guarantees of such subsidiaries in respect of such 6.125% Senior
Notes due 2024, containing terms identical to the Securities (except that the Exchange Securities will not be subject to restrictions
on transfer or to any increase in annual interest rate for failure to comply with this Agreement) and to be offered to Holders
of Securities in exchange for Securities pursuant to the Exchange Offer.

 

“Free Writing
Prospectus” shall mean each free writing prospectus (as defined in Rule 405 under the Securities Act).

 

“Holders”
shall mean the Initial Purchasers, for so long as they own any Registrable Securities, and each of their successors, assigns and
direct and indirect transferees who become owners of Registrable Securities under the Indenture; provided that for purposes of
Sections 4 and 5 of this Agreement, the term “Holders” shall include Participating Broker-Dealers.

 

“Indenture”
shall mean the Indenture, dated as of September 18, 2014, by and among the Company and U.S. Bank National Association, as trustee,
pursuant to which the Securities and the Exchange Securities are to be issued, as such Indenture is amended or supplemented from
time to time in accordance with the terms thereof.

 

“Initial Purchasers”
shall have the meaning set forth in the preamble.

 

“Inspector”
shall have the meaning set forth in Section 3(a)(xiii) hereof.

 

“Majority
Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding Registrable Securities;
provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder,
any Registrable Securities owned directly or indirectly by the Company or any of its affiliates shall not be counted in determining
whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further, that if
the Company shall issue any additional Securities under the Indenture prior to consummation of the Exchange Offer or, if applicable,
the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable Securities to which this
Agreement relates shall be treated together as one class for purposes of determining whether the consent or approval of Holders
of a specified percentage of Registrable Securities has been obtained.

 

“Participating
Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof.

 

“Participating
Holder” shall mean any Holder of Registrable Securities that has returned a completed and executed Questionnaire to the
Company in accordance with Section 2(b).

 

“Person”
shall mean an individual, partnership, limited liability company, corporation, trust or unincorporated organization, or a government
or agency or political subdivision thereof.

 

“Prospectus”
shall mean the prospectus included in, or deemed a part of, a Registration Statement, including any preliminary prospectus, and
any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to
the terms of the offering of any portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other
amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein.

 

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“Purchase
Agreement” shall have the meaning set forth in the recital.

 

“Questionnaire”
shall mean a selling security holder questionnaire distributed by the Company to a Holder upon receipt of a Shelf Request by the
Holder, which may include an indemnification by such Holder in accordance with Section 5(b).

 

“Registrable
Securities” shall mean the Securities; provided that the Securities shall cease to be Registrable Securities on the earliest
of (i) when a Registration Statement with respect to such Securities has become effective under the Securities Act and such Securities
have been exchanged or disposed of pursuant to such Registration Statement, (ii) if an Exchange Offer is completed, on or after
the Exchange Date with respect to the Holders that are eligible to participate in the Exchange Offer but fail to tender such Securities
in the Exchange Offer or (iii) when such Securities cease to be outstanding.

 

“Registration
Expenses” shall mean any and all expenses incident to performance of or compliance by the Company with this Agreement,
including without limitation: (i) all SEC, stock exchange or Financial Industry Regulatory Authority, Inc. registration and filing
fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable
fees and disbursements of counsel for any Underwriters or Holders in connection with blue sky qualification of any Exchange Securities
or Registrable Securities), (iii) all expenses of any Persons in preparing or assisting in preparing, word processing, printing
and distributing any Registration Statement, any Prospectus and any amendments or supplements thereto, any underwriting agreements,
securities sales agreements or other similar agreements and any other documents relating to the performance of and compliance with
this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture under
applicable securities laws, including the Trust Indenture Act, (vi) the fees and disbursements of the Trustee and its counsel,
(vii) the fees and disbursements of counsel for the Company and, in the case of a Shelf Registration Statement, the fees and disbursements
of one counsel for the Participating Holders (which counsel shall be selected by a majority in principal amount of Registrable
Securities held by the Participating Holders and which counsel may also be counsel for the Initial Purchasers) and (viii) the fees
and disbursements of the independent public accountants and independent petroleum engineers of the Company, including the expenses
of any special audits or “comfort” letters required by or incident to the performance of and compliance with this Agreement,
but excluding fees and expenses of counsel to the Underwriters (other than fees and expenses set forth in clause (ii) above) or
the Holders and underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale
or disposition of Registrable Securities by a Holder.

 

“Registration
Statement” shall mean any registration statement filed under the Securities Act of the Company that covers any of the
Exchange Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to
any such registration statement, including post-effective amendments, in each case including the Prospectus contained therein,
all exhibits thereto and any document incorporated by reference therein.

 

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“Representative”
shall have the meaning set forth in the preamble.

 

“SEC”
shall mean the United States Securities and Exchange Commission.

 

“Securities”
shall have the meaning set forth in the recital.

 

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

 

“Shelf Effectiveness
Period” shall have the meaning set forth in Section 2(b) hereof.

 

“Shelf Registration”
shall mean a registration effected pursuant to Section 2(b) hereof.

 

“Shelf Registration
Statement” shall mean a “shelf” registration statement of the Company that covers all or a portion of the
Registrable Securities (but no other securities unless approved by the Holders of a majority of the Registrable Securities to be
covered by such Shelf Registration Statement) on an appropriate form under Rule 415 under the Securities Act, or any similar rule
that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments,
in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated
by reference therein.

 

“Shelf Request”
shall have the meaning set forth in Section 2(b) hereof.

 

“Staff”
shall mean the staff of the SEC.

 

“Target Registration
Date” shall have the meaning set forth in Section 2(a) hereof.

 

“Trust Indenture
Act” shall mean the Trust Indenture Act of 1939, as amended from time to time.

 

“Trustee”
shall mean the trustee with respect to the Securities under the Indenture.

 

“Underwriter”
shall have the meaning set forth in Section 3(e) hereof.

 

“Underwritten
Offering” shall mean an offering in which Registrable Securities are sold to an Underwriter for reoffering to the public.

 

2.          Registration
Under the Securities Act. (a) To the extent not prohibited by any applicable law or applicable interpretations of the Staff,
the Company shall (i) cause to be filed an Exchange Offer Registration Statement covering an offer to the Holders to exchange all
the Registrable Securities for Exchange Securities, (ii) use its reasonable best efforts to cause such Exchange Offer Registration
Statement to become effective under the Securities Act by September 18, 2015 (the “Target Registration Date”)
and (iii) have such Registration Statement remain effective until 180 days after the last Exchange Date for use by one or more
Participating Broker-Dealers. The Company shall commence the Exchange Offer promptly after the Exchange Offer Registration Statement
is declared effective by the SEC and use its reasonable best efforts to complete the Exchange Offer not later than 60 days after
such effective date.

 

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The Company shall commence
the Exchange Offer by mailing the related Prospectus, appropriate letters of transmittal and other accompanying documents to each
Holder stating, in addition to such other disclosures as are required by applicable law, substantially the following:

 

		(i)	that the Exchange Offer is being made pursuant to this Agreement and that all Registrable Securities
validly tendered and not properly withdrawn will be accepted for exchange;

 

		(ii)	the dates of acceptance for exchange (which shall be a period of at least 20 Business Days from
the date such notice is mailed) (the “Exchange Dates”);

 

		(iii)	that any Registrable Security not tendered will remain outstanding and continue to accrue interest
but will not retain any rights under this Agreement;

 

		(iv)	that any Holder electing to have a Registrable Security exchanged pursuant to the Exchange Offer
will be required to (x) in the case of a Holder electing to exchange a Registrable Security in global form, to comply with the
applicable procedures of DTC for book-entry tenders, and, (y) in the case of a Holder electing to exchange a Registrable Security
in certificated form, to surrender such Registrable Security, together with the appropriate letters of transmittal, to the institution
and at the address (located in the Borough of Manhattan, The City of New York) and in the manner specified in the notice, prior
to the close of business on the last Exchange Date; and

 

		(v)	that any Holder will be entitled to withdraw its election, not later than the close of business
on the last Exchange Date, by (x) in the case of a Holder withdrawing its election to exchange a Registrable Security in global
form, complying with the applicable procedures of DTC for withdrawal of tenders, and, (y) in the case of a Holder withdrawing its
election to exchange a Registrable Security in certificated form, sending to the institution and at the address (located in the
Borough of Manhattan, The City of New York) specified in the notice, a telegram, telex, facsimile transmission or letter setting
forth the name of such Holder, the principal amount of Registrable Securities delivered for exchange and a statement that such
Holder is withdrawing its election to have such Registrable Securities exchanged.

 

As a condition to participating
in the Exchange Offer, a Holder will be required to represent to the Company that (i) any Exchange Securities to be received by
it will be acquired in the ordinary course of its business, (ii) at the time of the commencement of the Exchange Offer it has no
arrangement or understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the
Exchange Securities in violation of the provisions of the Securities Act, (iii) it is not an “affiliate” (within the
meaning of Rule 405 under the Securities Act) of the Company and (iv) if such Holder is a broker-dealer that will receive Exchange
Securities for its own account in exchange for Registrable Securities that were acquired as a result of market-making or other
trading activities, then such Holder will deliver a Prospectus (or, to the extent permitted by law, make available a Prospectus
to purchasers) in connection with any resale of such Exchange Securities.

 

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As soon as practicable
after the last Exchange Date, the Company shall:

 

		(i)	accept for exchange Registrable Securities or portions thereof validly tendered and not properly
withdrawn pursuant to the Exchange Offer; and

 

		(ii)	deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities or
portions thereof so accepted for exchange by the Company and issue, and cause the Trustee to promptly authenticate and deliver
to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable Securities surrendered
by such Holder.

 

The Company shall use
its reasonable best efforts to complete the Exchange Offer as provided above and shall comply with the applicable requirements
of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer. The Exchange
Offer shall not be subject to any conditions, other than that the Exchange Offer does not violate any applicable law or applicable
interpretations of the Staff.

 

(b)          In
the event that (i) the Company determines that the Exchange Offer Registration provided for in Section 2(a) above is not available
or may not be completed as soon as practicable after the last Exchange Date because it would violate any applicable law or applicable
interpretations of the Staff, (ii) the Exchange Offer is not for any other reason completed by the Target Registration Date, or
(iii) upon receipt of a request by any Holder of Registrable Securities that (A) is prohibited by applicable law or SEC policy
from participating in the Exchange Offer or (B) may not resell the Exchange Securities acquired by it in the Exchange Offer to
the public without delivering a prospectus and that the Prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales by such Holder or (iv) any Initial Purchaser shall so request (a “Shelf Request”)
in connection with any offer or sale of Registrable Securities that are ineligible to be exchanged in the Exchange Offer, the Company
shall use its reasonable best efforts to cause to be filed as soon as practicable after such determination, date or Shelf Request,
as the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof
and to have such Shelf Registration Statement become effective under the Securities Act; provided that no Holder will be entitled
to have any Registrable Securities included in any Shelf Registration Statement, or be entitled to use the prospectus forming a
part of such Shelf Registration Statement, until such Holder shall have delivered a completed and signed Questionnaire and provided
such other information regarding such Holder to the Company as is contemplated by Section 3(b) hereof.

 

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In the event that the
Company is required to file a Shelf Registration Statement pursuant to clause (iv) of the preceding sentence, the Company shall
use its reasonable best efforts to file and have become effective under the Securities Act both an Exchange Offer Registration
Statement pursuant to Section 2(a) with respect to all Registrable Securities and a Shelf Registration Statement (which may be
a combined Registration Statement with the Exchange Offer Registration Statement) with respect to offers and sales of Registrable
Securities held by the Initial Purchasers after completion of the Exchange Offer.

 

The Company agrees
to use its reasonable best efforts to keep the Shelf Registration Statement continuously effective for one year or such shorter
period that will terminate when all the Registrable Securities covered by the Shelf Registration Statement have been sold pursuant
to the Shelf Registration Statement (the “Shelf Effectiveness Period”). The Company further agrees to supplement
or amend the Shelf Registration Statement and the related Prospectus if required by the rules, regulations or instructions applicable
to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules
and regulations thereunder for shelf registration or if reasonably requested by a Holder of Registrable Securities with respect
to information relating to such Holder, and to use its reasonable best efforts to cause any such amendment to become effective
under the Securities Act, if required, and such Shelf Registration Statement and Prospectus to become usable as soon as practicable
thereafter. The Company agrees to furnish to the Holders of Registrable Securities copies of any such supplement or amendment promptly
after its being used or filed with the SEC.

 

(c)          The
Company shall pay all Registration Expenses in connection with any registration pursuant to Section 2(a) or Section 2(b) hereof.
Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to
the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration Statement.

 

(d)          An
Exchange Offer Registration Statement pursuant to Section 2(a) hereof will not be deemed to have become effective unless it has
been declared effective by the SEC. A Shelf Registration Statement pursuant to Section 2(b) will not be deemed to have become effective
unless it has been declared effective by the SEC or is automatically effective upon filing with the SEC as provided by Rule 462
under the Securities Act.

 

In the event that (i)
either the Exchange Offer is not completed or the Shelf Registration Statement, if required pursuant to Section 2(b)(i) or 2(b)(ii)
hereof, does not become effective on or prior to the Target Registration Date, or (ii) the Company receives a Shelf Request pursuant
to Section 2(b)(iii) or 2(b)(iv) hereof, and the Shelf Registration Statement required to be filed thereby does not become effective
by the later of (x) the Target Registration Date or (y) 90 days after the delivery of such Shelf Request (such later date, the
“Shelf Additional Interest Date”), then the interest rate on the Registrable Securities will be increased by
(A) 0.25% per annum for the first 90-day period immediately following the Target Registration Date or the Shelf Additional Interest
Date, as applicable, and (B) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until the
Exchange Offer is completed or the Shelf Registration Statement, if required hereby, has become effective under the Securities
Act or is no longer required to be effective, up to a maximum of 1.00% per annum of additional interest.

 

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If the Shelf Registration
Statement, if required hereby, has become effective under the Securities Act and thereafter either ceases to be effective or the
Prospectus contained therein ceases to be usable at any time during the Shelf Effectiveness Period, and such failure to remain
effective or usable exists for more than 30 days (whether or not consecutive) in any 12-month period, then the interest rate on
the Registrable Securities will be increased by (i) 0.25% per annum commencing on the 31st day in such 12-month period and (ii)
an additional 0.25% per annum with respect to each subsequent 90-day period (whether or not consecutive) and ending on such date
that the Shelf Registration Statement has again become effective under the Securities Act or the Prospectus again becomes usable,
up to a maximum of 1.00% per annum of additional interest.

 

(e)          Any
additional interest paid in accordance with this Section 2 shall be liquidated damages and shall be the sole and exclusive remedy
available to Holders due to a failure by the Company to comply with its obligations under Section 2(a) and Section 2(b).

 

3.           Registration
Procedures. (a) In connection with any registration pursuant to Section 2(a) and Section 2(b) hereof, the Company shall as
expeditiously as possible:

 

		(i)	prepare and file with the SEC a Registration Statement on the appropriate form under the Securities
Act, which form (x) shall be selected by the Company, (y) shall, in the case of a Shelf Registration, be available for the sale
of the Registrable Securities by the Holders thereof and (z) shall comply as to form in all material respects with the requirements
of the applicable form and include all financial statements required by the SEC to be filed therewith; and use its reasonable best
efforts to cause such Registration Statement to become effective under the Securities Act and remain effective for the applicable
period in accordance with Section 2 hereof;

 

		(ii)	prepare and file with the SEC such amendments and post-effective amendments to each Registration
Statement as may be necessary to keep such Registration Statement effective for the applicable period in accordance with Section
2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement and, as so supplemented, to be filed
pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of
and Rule 174 under the Securities Act that is applicable to transactions by brokers or dealers with respect to the Registrable
Securities or Exchange Securities;

 

		(iii)	in the case of a Shelf Registration, furnish to each Holder of Registrable Securities, to counsel
for the Initial Purchasers, to counsel for such Holders and to each Underwriter of an Underwritten Offering of Registrable Securities,
if any, without charge, as many copies of each Prospectus or preliminary prospectus, and any amendment or supplement thereto, as
such Holder, counsel or Underwriter may reasonably request in order to facilitate the sale or other disposition of the Registrable
Securities thereunder; and the Company consents to the use of such Prospectus, preliminary prospectus and any amendment or supplement
thereto in accordance with applicable law by each of the Holders of Registrable Securities and any such Underwriters in connection
with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus, preliminary
prospectus or any amendment or supplement thereto in accordance with applicable law;

 

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		(iv)	use its reasonable best efforts to register or qualify the Registrable Securities under all applicable
state securities or blue sky laws of such jurisdictions as any Holder of Registrable Securities covered by a Registration Statement
shall reasonably request in writing by the time the applicable Registration Statement becomes effective; cooperate with such Holders
in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc.; and do any and all other
acts and things that may be reasonably necessary or advisable to enable each Holder to complete the disposition in each such jurisdiction
of the Registrable Securities owned by such Holder; provided that the Company shall not be required to (1) qualify as a foreign
corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so
qualify, (2) file any general consent to service of process in any such jurisdiction or (3) subject itself to taxation in any such
jurisdiction if it is not so subject;

 

		(v)	in the case of a Shelf Registration, notify each Participating Holder and counsel for such Participating
Holders promptly and, if requested by any such Participating Holder or counsel, confirm such advice in writing (1) when a Registration
Statement has become effective, when any post-effective amendment thereto has been filed and becomes effective and when any amendment
or supplement to the Prospectus has been filed, (2) of any request by the SEC or any state securities authority for amendments
and supplements to a Registration Statement or Prospectus or for additional information after the Registration Statement has become
effective, (3) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a
Registration Statement or the initiation of any proceedings for that purpose, including the receipt by the Company of any notice
of objection of the SEC to the use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2)
under the Securities Act, (4) if, between the applicable effective date of a Shelf Registration Statement and the closing of any
sale of Registrable Securities covered thereby, the representations and warranties of the Company contained in any underwriting
agreement, securities sales agreement or other similar agreement, if any, relating to an offering of such Registrable Securities
cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension
of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose,
(5) of the happening of any event during the period a Registration Statement is effective that makes any statement made in such
Registration Statement or the related Prospectus untrue in any material respect or that requires the making of any changes in such
Registration Statement or Prospectus in order to make the statements therein not misleading and (6) of any determination by the
Company that a post-effective amendment to a Registration Statement or any amendment or supplement to the Prospectus would be appropriate;

 

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		(vi)	use its reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness
of a Registration Statement or, in the case of a Shelf Registration, the resolution of any objection of the SEC pursuant to Rule
401(g)(2), including by filing an amendment to such Shelf Registration Statement on the proper form, at the earliest possible moment
and provide immediate notice to each Holder of the withdrawal of any such order or such resolution;

 

		(vii)	in the case of a Shelf Registration, furnish to each Participating Holder, without charge, at least
one conformed copy of each Registration Statement and any post-effective amendment thereto (without any documents incorporated
therein by reference or exhibits thereto, unless requested);

 

		(viii)	in the case of a Shelf Registration, cooperate with the Participating Holders in certificated form
to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing
any restrictive legends and enable such Registrable Securities to be issued in such denominations and registered in such names
(consistent with the provisions of the Indenture) as such Participating Holders may reasonably request at least two Business Days
prior to the closing of any sale of Registrable Securities in certificated form;

 

		(ix)	in the case of a Shelf Registration, upon the occurrence of any event contemplated by Section 3(a)(v)(5)
hereof, use its reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to such Shelf
Registration Statement or the related Prospectus or any document incorporated therein by reference or file any other required document
so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities,
such Prospectus will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading; and the Company shall notify
the Participating Holders to suspend use of the Prospectus as promptly as practicable after the occurrence of such an event, and
such Holders hereby agree to suspend use of the Prospectus until the Company has amended or supplemented the Prospectus to correct
such misstatement or omission;

 

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		(x)	in the case of a Shelf Registration, a reasonable time prior to the filing of any Registration
Statement, any Prospectus, any amendment to a Registration Statement or amendment or supplement to a Prospectus or of any document
that is to be incorporated by reference into a Registration Statement or a Prospectus after initial filing of a Registration Statement,
provide copies of such document to the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement,
to the Participating Holders and their counsel) and make such of the representatives of the Company as shall be reasonably requested
by the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Holders of Registrable Securities
or their counsel) available for discussion of such document; and the Company shall not, at any time after the initial filing of
a Registration Statement, use or file any Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus,
any Free Writing Prospectus, or any document that is to be incorporated by reference into a Registration Statement or a Prospectus,
of which the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders
and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or their counsel
(and, in the case of a Shelf Registration Statement, the Participating Holders or their counsel) shall reasonably object; provided,
that this clause shall not apply to any filing by the Company of any Annual Report on Form 10-K, Quarterly Report on Form 10-Q
or Current Report on Form 8-K with respect to matters unrelated to the Securities and the offering or exchange therefor;

 

		(xi)	obtain a CUSIP number for all Exchange Securities or Registrable Securities, as the case may be,
not later than the initial effective date of a Registration Statement;

 

		(xii)	cause the Indenture to be qualified under the Trust Indenture Act in connection with the registration
of the Exchange Securities or Registrable Securities, as the case may be; cooperate with the Trustee and the Holders to effect
such changes to the Indenture as may be required for the Indenture to be so qualified in accordance with the terms of the Trust
Indenture Act; and execute, and use its reasonable best efforts to cause the Trustee to execute, all documents as may be required
to effect such changes and all other forms and documents required to be filed with the SEC to enable the Indenture to be so qualified
in a timely manner;

 

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		(xiii)	in the case of a Shelf Registration, make available for inspection by a representative (an “Inspector”)
of the Participating Holders, any Underwriter participating in any disposition pursuant to such Shelf Registration Statement, any
attorneys and accountants designated by a majority of the Holders of Registrable Securities to be included in such Shelf Registration
and any attorneys and accountants designated by such Underwriter, at reasonable times and in a reasonable manner, all pertinent
financial and other records, documents and properties of the Company and its subsidiaries, and cause the respective officers, directors
and employees of the Company to supply all information reasonably requested by any such Inspector, Underwriter, attorney or accountant
in connection with a Shelf Registration Statement, in each case as is customary for “due diligence” examinations in
the context of underwritten offerings; provided that if any such information is identified by the Company as being confidential
or proprietary, each Person receiving such information shall take such actions as are reasonably necessary to protect the confidentiality
of such information to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights
and interests of any Inspector, Holder or Underwriter;

 

		(xiv)	if reasonably requested by any Participating Holder, promptly include in a Prospectus supplement
or post-effective amendment such information with respect to such Holder as such Holder reasonably requests to be included therein
and make all required filings of such Prospectus supplement or such post-effective amendment as soon as the Company has received
notification of the matters to be so included in such filing; and

 

		(xv)	in the case of a Shelf Registration, enter into such customary agreements and take all such other
commercially reasonable actions in connection therewith (including those requested by the holders of a majority in principal amount
of the Registrable Securities covered by the Shelf Registration Statement) in order to expedite or facilitate the disposition of
such Registrable Securities including, but not limited to, an Underwritten Offering and in such connection, (1) to the extent possible,
make such representations and warranties to the Holders and any Underwriters of such Registrable Securities with respect to the
business of the Company and its subsidiaries and the Registration Statement, Prospectus and documents incorporated by reference
or deemed incorporated by reference, if any, in each case, in form, substance and scope as are customarily made by issuers to underwriters
in underwritten offerings and confirm the same if and when requested, (2) obtain opinions of counsel to the Company (which counsel
and opinions, in form, scope and substance, shall be reasonably satisfactory to the Participating Holders and such Underwriters
and their respective counsel) addressed to each selling Participating Holder and Underwriter of Registrable Securities, covering
the matters customarily covered in opinions requested in underwritten offerings, (3) obtain “comfort” letters from
the independent registered public accounting firm of the Company (and, if necessary, any other certified public accountant of any
subsidiary of the Company, or of any business acquired by the Company for which financial statements and financial data are or
are required to be included in the Registration Statement) addressed to each selling Participating Holder (to the extent permitted
by applicable professional standards) and Underwriter of Registrable Securities, such letters to be in customary form and covering
matters of the type customarily covered in “comfort” letters in connection with underwritten offerings, including
but not limited to financial information contained in any preliminary prospectus or Prospectus and (4) deliver such documents and
certificates as may be reasonably requested by the Participating Holders of a majority in principal amount of the Registrable Securities
being sold or the Underwriters, and which are customarily delivered in underwritten offerings, to evidence the continued validity
of the representations and warranties of the Company made pursuant to clause (1) above and to evidence compliance with any customary
conditions contained in an underwriting agreement.

 

    	12

    	 

    

  

(b)          In
the case of a Shelf Registration Statement, the Company may require each Holder of Registrable Securities to furnish to the Company
a Questionnaire and such additional information regarding such Holder and the proposed disposition by such Holder of such Registrable
Securities as the Company may from time to time reasonably request in writing.

 

(c)          In
the case of a Shelf Registration Statement, each Holder of Registrable Securities covered in such Shelf Registration Statement
agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(a)(v)(3)
or 3(a)(v)(5) hereof, such Holder will forthwith discontinue disposition of Registrable Securities pursuant to the Shelf Registration
Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(a)(ix)
hereof and, if so directed by the Company, such Holder will deliver to the Company all copies in its possession, other than permanent
file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities that is current at the
time of receipt of such notice.

 

(d)          If
the Company shall give any notice to suspend the disposition of Registrable Securities pursuant to a Registration Statement, the
Company shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement
by the number of days during the period from and including the date of the giving of such notice to and including the date when
the Holders of such Registrable Securities shall have received copies of the supplemented or amended Prospectus necessary to resume
such dispositions. The Company may give any such notice only twice during any 365-day period and any such suspensions shall not
exceed 30 days for each suspension and there shall not be more than two suspensions in effect during any 365-day period.

 

(e)          The
Participating Holders who desire to do so may sell such Registrable Securities in an Underwritten Offering. In any such Underwritten
Offering, the investment bank or investment banks and manager or managers (each an “Underwriter”) that will
administer the offering will be selected by the Holders of a majority in principal amount of the Registrable Securities included
in such offering.

 

4.           Participation
of Broker-Dealers in Exchange Offer. (a) The Staff has taken the position that any broker-dealer that receives Exchange Securities
for its own account in the Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of market-making
or other trading activities (a “Participating Broker-Dealer”) may be deemed to be an “underwriter”
within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the Securities Act in connection
with any resale of such Exchange Securities.

 

    	13

    	 

    

  

The Company understands
that it is the Staff’s position that if the Prospectus contained in the Exchange Offer Registration Statement includes a
plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell
the Exchange Securities, without naming the Participating Broker-Dealers or specifying the amount of Exchange Securities owned
by them, such Prospectus may be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made available to
purchasers) to satisfy their prospectus delivery obligation under the Securities Act in connection with resales of Exchange Securities
for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act.

 

(b)          In
light of the above, and notwithstanding the other provisions of this Agreement, the Company agrees, upon request of any Participating
Broker-Dealer, to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for a period of up
to 180 days after the last Exchange Date (as such period may be extended pursuant to Section 3(d) of this Agreement), in order
to expedite or facilitate the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions
of the Staff recited in Section 4(a) above. The Company further agrees that Participating Broker-Dealers shall be authorized to
deliver such Prospectus (or, to the extent permitted by law, make available) during such period in connection with the resales
contemplated by this Section 4.

 

(c)          The
Initial Purchasers shall have no liability to the Company or any Holder with respect to any request that they may make pursuant
to Section 4(b) above.

 

5.          Indemnification
and Contribution. (a) The Company will indemnify and hold harmless each of the Holders of Registrable Securities included in
an Exchange Offer Registration Statement and each of the Holders of Registrable Securities included in a Shelf Registration Statement
against any losses, claims, damages or liabilities, joint or several, to which such Holder may become subject under the Securities
Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon an untrue statement or alleged untrue statement of a material fact contained in any Exchange Offer Registration Statement
or any Shelf Registration Statement, as the case may be, under which such Registrable Securities were registered under the Securities
Act, or any preliminary, final or summary prospectus (including, without limitation, any “issuer free writing prospectus”
as defined in Rule 433) contained therein or furnished by the Company to any such Holder, or any amendment or supplement thereto,
or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, and will reimburse each such Holder for any and all legal or other
expenses reasonably incurred by them in connection with investigating or defending any such action or claim as such expenses are
incurred; provided, however, that the Company shall not be liable to any such person in any such case to the extent that
any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission
or alleged omission made in such registration statement, or preliminary, final or summary prospectus (including, without limitation,
any “issuer free writing prospectus” as defined in Rule 433), or amendment or supplement thereto, in reliance
upon and in conformity with written information furnished to the Company by such person expressly for use therein.

 

    	14

    	 

    

  

(b)          The
Company may require, as a condition to including any Registrable Securities in any Shelf Registration Statement filed pursuant
to Section 2(b), that the Company shall have received an undertaking reasonably satisfactory to it from each Holder of Registrable
Securities included in such Shelf Registration Statement, severally and not jointly, to (i) indemnify and hold harmless the
Company and all other Holders of Registrable Securities included in such Shelf Registration Statement, against any losses, claims,
damages or liabilities to which the Company or such other Holders may become subject, under the Securities Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement
or alleged untrue statement of a material fact contained in such registration statement, or any preliminary, final or summary prospectus
(including, without limitation, any “issuer free writing prospectus” as defined in Rule 433) contained therein
or furnished by the Company to any Holder, or any amendment or supplement thereto, or arise out of or are based upon the omission
or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein
not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission
or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by such Holder
expressly for use therein, and (ii) reimburse the Company for any legal or other expenses reasonably incurred by the Company
in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however,
that no such Holder shall be required to undertake liability to any person under this Section 5(b) for any amounts in excess
of the dollar amount of the proceeds to be received by such Holder from the sale of such Holder’s Registrable Securities
pursuant to such registration.

 

(c)          Promptly
after receipt by an indemnified party under subsection (a) or (b) above of written notice of the commencement of any action,
such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party pursuant to the indemnification
provisions of or contemplated by this Section 5, notify such indemnifying party in writing of the commencement of such action;
but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified
party otherwise than under the indemnification provisions of or contemplated by Section 5(a) or Section 5(b). In case
any such action shall be brought against any indemnified party and it shall notify an indemnifying party of the commencement thereof,
such indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other
indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified
party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice
from the indemnifying party to such indemnified party of its election so to assume the defense thereof, such indemnifying party
shall not be liable to such indemnified party for any legal expenses of other counsel or any other expenses, in each case subsequently
incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. In any
such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel
shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually
agreed to the contrary; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory
to the indemnified party; (iii) the indemnified party shall have reasonably concluded that there may be legal defenses available
to it that are different from or in addition to those available to the indemnifying party; or (iv) the named parties in any such
proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of
both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. No indemnifying
party shall, without the prior written consent of the indemnified party, effect the settlement or compromise of, or consent to
the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution
may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such
settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising
out of such action or claim and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure
to act by or on behalf of any indemnified party.

 

    	15

    	 

    

  

(d)          If
for any reason the indemnification provisions contemplated by Section 5(a) or Section 5(b) are unavailable to or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof)
referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a
result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect
the relative fault of the indemnifying party and the indemnified party in connection with the statements or omissions which resulted
in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations.
The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information
supplied by such indemnifying party or by such indemnified party, and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just
and equitable if contributions pursuant to this Section 5(d) were determined by pro rata allocation (even if the Holders were
treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations
referred to in this Section 5(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages,
or liabilities (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses
reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding
the provisions of this Section 5(d), no Holder shall be required to contribute any amount in excess of the amount by which
the dollar amount of the proceeds received by such Holder from the sale of any Registrable Securities (after deducting any fees,
discounts and commissions applicable thereto) exceeds the amount of any damages which such Holder has otherwise been required to
pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. The Holders’ obligations in this Section 5(d) to contribute shall be several
in proportion to the principal amount of Registrable Securities registered by them and not joint.

 

    	16

    	 

    

  

(e)          The
obligations of the Company under this Section 5 shall be in addition to any liability which the Company may otherwise have
and shall extend, upon the same terms and conditions, to each officer, director and partner of each Holder and each person, if
any, who controls any of the foregoing within the meaning of the Securities Act; and the obligations of the Holders contemplated
by this Section 5 shall be in addition to any liability which the respective Holder may otherwise have and shall extend, upon
the same terms and conditions, to each officer and director of the Company and to each person, if any, who controls the Company
within the meaning of the Securities Act, as well as to each officer and director of the other Holders and to each person, if any,
who controls such other Holders within the meaning of the Securities Act.

 

(f)          The
remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies that may otherwise be available
to any indemnified person at law or in equity.

 

(g)          The
indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect regardless
of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial Purchasers or any Holder or
any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or the officers or directors of or
any Person controlling the Company, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities
pursuant to a Shelf Registration Statement.

 

6.           General.

 

(a)          No
Inconsistent Agreements. The Company represents, warrants and agrees that (i) the rights granted to the Holders hereunder do
not in any way conflict with and are not inconsistent with the rights granted to the holders of any other outstanding securities
issued or guaranteed by the Company under any other agreement and (ii) the Company has not entered into, or on or after the date
of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable Securities
in this Agreement or otherwise conflicts with the provisions hereof.

 

(b)          Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent
of Holders of at least a majority in aggregate principal amount of the outstanding Registrable Securities affected by such amendment,
modification, supplement, waiver or consent; provided that no amendment, modification, supplement, waiver or consent to any departure
from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to
in writing by such Holder. Any amendments, modifications, supplements, waivers or consents pursuant to this Section 6(b) shall
be by a writing executed by each of the parties hereto.

 

    	17

    	 

    

  

(c)          Notices.
All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, registered
first-class mail, telex, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address
given by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(c), which address
initially is, with respect to the Initial Purchasers, the address set forth in the Purchase Agreement; (ii) if to the Company,
initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which
is given in accordance with the provisions of this Section 6(c); and (iii) to such other persons at their respective addresses
as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions
of this Section 6(c). All such notices and communications shall be deemed to have been duly given: at the time delivered by hand,
if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged,
if telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of all
such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at
the address specified in the Indenture.

 

(d)          Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors, assigns and transferees of each
of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that
nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities in violation of
the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities in any
manner, whether by operation of law or otherwise, such Registrable Securities shall be held subject to all the terms of this Agreement,
and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and
to perform all of the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof.
The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company with respect
to any failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement.

 

(e)          Third
Party Beneficiaries. Each Holder shall be a third party beneficiary to the agreements made hereunder between the Company, on
the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the
extent it deems such enforcement necessary or advisable to protect its rights or the rights of other Holders hereunder.

 

(f)          Counterparts.
This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

 

(g)          Headings.
The headings in this Agreement are for convenience of reference only, are not a part of this Agreement and shall not limit or otherwise
affect the meaning hereof.

 

(h)          Governing
Law. THIS AGREEMENT AND ANY MATTERS RELATED TO THIS TRANSACTION SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS THAT WOULD RESULT IN THE APPLICATION OF ANY LAW
OTHER THAN THE LAWS OF THE STATE OF NEW YORK. 

 

    	18

    	 

    

  

(i)          Agent
for Service; Submission to Jurisdiction. The Company acknowledges that it has, by separate written agreement, irrevocably designated
and appointed Ultra Resources, Inc., a Wyoming corporation (together with its successors and assigns, the “Agent”)
as its authorized agent for service of process in any suit, action or proceeding arising out of or relating to this Agreement or
brought with respect to the Securities under U.S. federal or state securities laws, in each case instituted in any federal or state
court located in the State and City of New York. The Company hereby submits to the nonexclusive jurisdiction of any such court
in any such suit, action or proceeding and agrees that service of process upon Agent with written notice thereof to the Company
shall be deemed to be effective service of process upon the Company in such suit, action or proceeding.

 

(j)          Entire
Agreement; Severability. This Agreement contains the entire agreement between the parties relating to the subject matter hereof
and supersedes all oral statements and prior writings with respect thereto. If any term, provision, covenant or restriction contained
in this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the
remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall
in no way be affected, impaired or invalidated. The Company and the Initial Purchasers shall endeavor in good faith negotiations
to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which comes as close as possible
to that of the invalid, void or unenforceable provisions.

 

[Signature Page Follows.]

  

    	19

    	 

    

 

IN WITNESS WHEREOF,
the undersigned has executed this Agreement as of the date first above written.

 

	 	ULTRA PETROLEUM CORP.
	 	 	 	 
	 	By:	/s/ Garland R. Shaw
	 	 	Name:	Garland R. Shaw
	 	 	Title:	Senior Vice President and Chief Financial Officer

 

[Signature Page to Registration Rights
Agreement]

 

    	 

    	 

    

  

Confirmed and accepted as of the date first
above written:

 

GOLDMAN, SACHS & CO.

Acting on its own behalf and as the Representative
of the several Initial Purchasers

 

GOLDMAN, SACHS & CO.

 

	By:	/s/ Michael Hickey	 
	 	Name: Michael Hickey	 
	 	Title: Managing Director	 

 

[Signature Page to Registration Rights
Agreement]EX-10.01

 Exhibit 10.01 

FIRST AMENDMENT TO CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT dated as of September 19, 2014 (the “Amendment”) is entered into among Cadence
Design Systems, Inc. (the “Borrower”), the Lenders party hereto and Bank of America, N.A., as Administrative Agent. All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in
the Credit Agreement (as defined below). 
 RECITALS 

WHEREAS, the Borrower, the Guarantors party thereto, the Lenders and the Administrative Agent entered into that certain Credit Agreement dated
as of December 12, 2012 (as amended, modified, supplemented or extended from time to time, the “Credit Agreement”); and 

WHEREAS, the Borrowers have requested that the Lenders amend the Credit Agreement as set forth in this Amendment. 

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

(a) All references in the Credit Agreement to the terms “Book Managers” and “book manager” are hereby deleted and replaced
with “Bookrunners” and “bookrunner” as applicable. 
 (b) The following definitions appearing in Section 1.01 of
the Credit Agreement are hereby deleted: “Cash Management Bank,” “Collateral,” “Collateral Documents,” “Consolidated Net Worth,” “Hedge Bank,” “Secured Cash Management Agreement,”
“Secured Hedge Agreement,” “Secured Party Designation Notice,” and “Security Agreement”. 
 (c) The following
definitions appearing in Section 1.01 of the Credit Agreement are hereby amended to read as follows: 

“Applicable Rate” means the following percentages per annum, based upon the Consolidated Leverage Ratio as set
forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 7.02(b): 
  

																							
	 Pricing
Tier
	  	 Consolidated
Leverage Ratio
	  	Commitment
Fee	 	Letters of
Credit	 	Eurocurrency
Rate Loans	 	Base Rate Loans
	 1
	  	< 1.50 to 1.0	  	 	 	0.20	%	 	 	 	1.25	%	 	 	 	1.25	%	 	 	 	0.25	%
	 2
	  	 3 1.50 to 1.0 but

< 2.00 to 1.0
	  	 	 	0.25	%	 	 	 	1.50	%	 	 	 	1.50	%	 	 	 	0.50	%
	 3
	  	 3 2.00 to 1.0 but

< 2.50 to 1.0
	  	 	 	0.30	%	 	 	 	1.75	%	 	 	 	1.75	%	 	 	 	0.75	%
	 4
	  	3 2.50 to 1.0	  	 	 	0.35	%	 	 	 	2.00	%	 	 	 	2.00	%	 	 	 	1.00	%

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is required to be delivered pursuant to 

 
Section 7.02(b); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then, upon the request of the Required
Lenders, Pricing Tier 4 shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered in
accordance with Section 7.02(b), whereupon the Applicable Rate shall be adjusted based upon the calculation of the Consolidated Leverage Ratio contained in such Compliance Certificate. The Applicable Rate in effect from the First
Amendment Effective Date through the first Business Day immediately following the date a Compliance Certificate is required to be delivered pursuant to Section 7.02(b) for the fiscal quarter ending September 30, 2014 shall be
determined based upon Pricing Tier 2. 
 “Consolidated Tangible Assets” means, as of any date, Consolidated
Total Assets minus the book value of intangible assets (including, for the avoidance of doubt, goodwill), as determined in accordance with GAAP. 

“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 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; provided, however, that Equity Interests shall not include Convertible Bond Indebtedness, Capped Call Transactions, Convertible Bond Hedge Transactions and Warrant Transactions. 

“Eurocurrency Rate” means: 

(a) for any Interest Period, with respect to any Credit Extension: 

(i) denominated in a LIBOR Quoted Currency, the rate per annum equal to the London Interbank Offered Rate
(“LIBOR”), or a comparable or successor rate which rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be
designated by the Administrative Agent from time to time) (in such case, the “LIBOR Rate”) at or about 11:00 a.m. (London time) on the Rate Determination Date, for deposits in the relevant currency, with a term equivalent to such
Interest Period; 
 (ii) denominated in any Non-LIBOR Quoted Currency, the rate per annum as designated with respect to such
Alternative Currency at the time such Alternative Currency is approved by the Administrative Agent and the relevant Lenders pursuant to Section 1.06(a); and 

(b) for any interest rate calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the LIBOR Rate,
at approximately 11:00 a.m. (London time) determined two (2) Business Days prior to such date for Dollar deposits being delivered in the London interbank market for deposits in Dollars with a term of one (1) month commencing that day; 

provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection with any rate set forth
in this definition, the approved rate shall be applied in 

  
 2 

 
a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate
shall be applied in a manner as otherwise reasonably determined by the Administrative Agent; provided, further that if the Eurocurrency Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. 

“Guarantors” means, collectively, (a) each Person that joins as a Guarantor pursuant to
Section 7.13 or otherwise and (b) the successors and permitted assigns of the foregoing. Notwithstanding anything to the contrary contained herein, (i) Cadence Receivables Consolidation Corporation, a Delaware corporation, and
Cadence Nippon Finance, LLC, a Delaware limited liability company, shall not be Guarantors and (ii) in no event shall an Excluded Subsidiary be a Guarantor. 

“Loan Documents” means this Agreement, each Note, each Issuer Document, each Joinder Agreement and the Fee
Letter. 
 “Loan Notice” means a notice of (a) a Borrowing of Revolving Loans, (b) a conversion of
Loans from one Type to the other, or (c) a continuation of Eurocurrency Rate Loans, in each case pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit 2.02 or such other form as may be approved by
the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower. 

“Maturity Date” means September 19, 2019; provided, however, that, if such date is not a
Business Day, the Maturity Date shall be the next preceding Business Day. 
 “Obligations” means all
advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, 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 or any Affiliate thereof 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. 

“Permitted Acquisition” means an Investment consisting of an Acquisition, provided that
(a) no Default shall have occurred and be continuing or would result from such Acquisition, (b) the property acquired (or the property of the Person acquired) in such Acquisition is used or useful in a line of business not prohibited by
Section 8.07, (c) in the case of an Acquisition of the Equity Interests of another Person, the board of directors (or other comparable governing body) of such other Person shall have duly approved such Acquisition, (d) upon
giving effect to such Acquisition, the Loan Parties shall be in compliance with the financial covenants set forth in Section 8.11 on a Pro Forma Basis, and if the aggregate cash and non-cash consideration (including Equity Interests but
excluding the estimated value of any contingent earn-out obligations) paid for such Acquisition exceeds $50,000,000 (determined at the time such Acquisition is consummated), at least one Business Day prior to the consummation of such Acquisition,
the Borrower shall have delivered to the Administrative Agent a Pro Forma Compliance Certificate demonstrating such compliance and (e) if such transaction involves the purchase of an interest in a partnership between any Loan Party as a general
partner and entities unaffiliated with the Borrower as the other partners, such transaction shall be effected by having such equity interest acquired by a corporate holding company directly or indirectly wholly owned by such Loan Party newly formed
for the sole purpose of effecting such transaction. 

  
 3 

 “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 the delivery of incumbency certificates, the secretary or any assistant secretary of a Loan Party and, solely for purposes
of notices given pursuant to Article II, any other officer of the applicable Loan Party so designated by any of the foregoing officers in a notice to the Administrative Agent or any other officer or employee of the applicable Loan Party
designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent. 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 (a) any dividend or other distribution (whether in cash, securities or other
property) with respect to any Equity Interests of any Person, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance, acquisition,
cancellation or termination of any such Equity Interests or on account of any return of capital to such Person’s stockholders, partners or members (or the equivalent Person thereof), or any option, warrant or other right to acquire any such
dividend or other distribution or payment, (b) any payment made in cash to holders of Convertible Bond Indebtedness in excess of the original principal (or notional) amount thereof and interest thereon (and, to the extent not permissible to be
satisfied with shares of common stock, customary redemption, mandatory conversion or similar premiums, if any), unless and to the extent that a corresponding amount is received in cash (whether through a direct cash payment or a settlement in shares
of stock that are immediately sold for cash) substantially contemporaneously from the other parties to a Convertible Bond Hedge Transaction relating to such Convertible Bond Indebtedness and (c) any cash payment (other than payments in cash in
lieu of fractional shares) made in connection with the settlement of a Warrant Transaction solely to the extent the Borrower has the option of satisfying such payment obligation through the issuance of capital stock. 

“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, 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.
Notwithstanding the foregoing, to the extent entered into in connection with Convertible Bond Indebtedness, Capped Call Transactions, Convertible Bond Hedge Transactions and Warrant Transactions, and any arrangements or agreements related thereto,
and any accelerated share repurchase contract, forward share purchase contract or similar contract with respect to the purchase by the Borrower of the Equity Interests of Borrower which purchase is permitted by Section 8.06(d) or
8.06(f) shall not constitute Swap Contracts. 

  
 4 

 “Swap Termination Value” means, in respect of any one or more
Swap Contracts, Convertible Bond Hedge Transactions or Warrant Transactions, as applicable, after taking into account the effect of any legally enforceable netting agreement relating thereto, (a) for any date on or after the date such Swap
Contracts, Convertible Bond Hedge Transactions or Warrant Transactions, as applicable, 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, Convertible Bond Hedge Transactions or Warrant Transactions, as applicable, as determined based upon one or more mid-market or other readily available
quotations provided by any recognized dealer in such Swap Contracts, Convertible Bond Hedge Transactions or Warrant Transactions (which may include a Lender or any Affiliate of a Lender). 

“Swing Line Loan Notice” means a notice of a Borrowing of Swing Line Loans pursuant to
Section 2.04(b), which shall be substantially in the form of Exhibit 2.04 or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be
approve by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower. 
 (d) The following new
definitions are hereby added to Section 1.01 of the Credit Agreement in the appropriate alphabetical order to read as follows: 

“Anti-Corruption Laws” means the United States Foreign Corrupt Practices Act of 1977 or the UK Bribery Act
2010. 
 “Applicable Warrant Transaction Reduction Amount” means, at any date of determination, the
aggregate amount of all cash payments made by the Borrower and its Subsidiaries during the twenty-four month period preceding such date in connection with the settlement of a Warrant Transaction solely to the extent the Borrower did not have the
option of satisfying such payment obligation through the issuance of capital stock; provided, however, that any such payment made during any time that the Consolidated Leverage Ratio (calculated on a Pro Forma Basis after giving effect
to such payment) did not exceed 2.50 to 1.0 shall be excluded from the calculation of the “Applicable Warrant Transaction Reduction Amount”. 

“Capped Call Transactions” means one or more call options (or substantively equivalent derivative transaction)
referencing the Borrower’s Equity Interests purchased by the Borrower (or a Subsidiary) in connection with the issuance of Convertible Bond Indebtedness with a strike or exercise price (howsoever defined) initially equal to the conversion price
(howsoever defined) of the related Convertible Bond Indebtedness (subject to rounding) and limiting the amount deliverable to the Borrower (or a Subsidiary) upon exercise thereof based on a cap or upper strike price (howsoever defined). 

“Consolidated Total Assets” means, as of any date, the book value of total assets of the Borrower and its
Subsidiaries on a consolidated basis. 
 “Convertible Bond Hedge Transactions” means one or more call
options (or substantively equivalent derivative transaction) referencing the Borrower’s Equity Interests purchased by the Borrower in connection with the issuance of Convertible Bond Indebtedness with a strike or exercise price (howsoever
defined) initially equal to the conversion or exchange price (howsoever defined) of the related Convertible Bond Indebtedness (subject to rounding). 

  
 5 

 “Convertible Bond Indebtedness” means Indebtedness having a
feature which entitles the holder thereof to convert or exchange all or a portion of such Indebtedness into or by reference to Equity Interests of the Borrower. 

“First Amendment Effective Date” means September 19, 2014. 

“LIBOR” has the meaning specified in the definition of Eurocurrency Rate. 

“LIBOR Quoted Currency” means Dollars, Euro, Sterling and Japanese Yen, in each case as long as there is a
published LIBOR rate with respect thereto. 
 “Non-LIBOR Quoted Currency” means any currency other than a
LIBOR Quoted Currency. 
 “Rate Determination Date” means two (2) Business Days prior to the
commencement of such Interest Period (or such other day as is generally treated as the rate fixing day by market practice in such interbank market, as determined by the Administrative Agent; provided that to the extent such market practice is
not administratively feasible for the Administrative Agent, then “Rate Determination Date” means such other day as otherwise reasonably determined by the Administrative Agent). In the event such market practice is not administratively
feasible, the Administrative Agent shall provide notice to the Borrower of a deviation from market practice as soon as practical that the Administrative Agent will deviate from the standard market practice in determining the rate fixing day. 

“Warrant Transactions” means one or more call options, warrants or rights to purchase (or substantively
equivalent derivative transaction) referencing the Borrower’s common stock written by the Borrower substantially contemporaneously with the purchase by the Borrower of Convertible Bond Hedge Transactions and having an initial strike or exercise
price (howsoever defined) greater than the strike or exercise price (howsoever defined) of such Convertible Bond Hedge Transactions. 
 (e)
Section 1.03(c) is hereby amended to read as follows: 
 (c) Calculations. Notwithstanding the above, the parties
hereto acknowledge and agree that: 
 (i) all calculations of the financial covenants in Section 8.11 (including
for purposes of determining the Applicable Rate) shall be made on a Pro Forma Basis with respect to (A) any Disposition of all of the Equity Interests of, or all or substantially all of the assets of, a Subsidiary, (B) any Disposition of a
line of business or division of any Loan Party or Subsidiary, or (C) any Acquisition, in each case, occurring during the applicable period; and 

(ii) for purposes of all calculations hereunder, the principal amount of Convertible Bond Indebtedness shall be the outstanding
principal (or notional) amount thereof, valued at par. 

  
 6 

 (f) Section 2.02(a) is hereby amended to read as follows: 

(a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurocurrency Rate Loans shall
be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative
Agent of a Loan Notice. Each such Loan Notice must be received by the Administrative 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 Eurocurrency Rate
Loans denominated in Dollars or of any conversion of Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans, (ii) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to the requested date of any
Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, and (iii) on the requested date of any Borrowing of Base Rate Loans. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall
be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of
$1,000,000 or a whole multiple of $500,000 in excess thereof. Each Loan Notice shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurocurrency 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, (v) if applicable, the duration of the Interest Period with respect thereto, and (vi) if applicable, the currency of the Loans to be borrowed. If the Borrower fails to specify a Type
of a Loan in a Loan Notice or if the 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; provided, however, that in the case of a
failure to timely request a continuation of Loans denominated in an Alternative Currency, such Loans shall be continued as Eurocurrency Rate Loans in their original currency with an Interest Period of one month. Any 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 Eurocurrency Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any Loan
Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a Eurocurrency Rate Loan. No Loan may be
converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. 

(g) Section 2.04(b) is hereby amended to read as follows: 

(b) Borrowing Procedures. Each Borrowing of Swing Line Loans shall be made upon the Borrower’s irrevocable notice
to the Swing Line Lender and the Administrative Agent, which may be given by (A) telephone or (B) by a Swing Line Loan Notice; provided that any telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and
the Administrative Agent of a Swing Line Loan Notice. Each such Swing Line Loan Notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify (i) the
amount to be borrowed, which shall be a minimum principal amount of $100,000 and integral multiples of $100,000 in excess thereof, and (ii) the requested borrowing date, which shall be a Business Day. Promptly after receipt by the Swing Line
Lender of any Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will
notify the Administrative 

  
 7 

 
Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request
of any Lender) prior to 2:00 p.m. on the date of the proposed Borrowing of Swing Line Loans (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence
of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on
the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower. 
 (h)
Section 2.05(a)(i) is hereby amended to read as follows: 
 (i) Revolving Loans. The Borrower may, upon notice
from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Revolving Loans in whole or in part without premium or penalty; provided that (A) such notice must be in a form reasonably acceptable to
the Administrative Agent and be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of Eurocurrency Rate Loans denominated in Dollars, (2) four Business Days (or five, in
the case of prepayment of Loans denominated in Special Notice Currencies) prior to any date of prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies, and (3) on the date of prepayment of Base Rate Loans; (B) any such
prepayment of Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (C) any prepayment of Base Rate
Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, 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 Eurocurrency Rate Loans are to be prepaid, the Interest Period(s) of such Loans. Any notice of prepayment of Loans denominated solely in Dollars given by the Borrower may state that such notice is conditioned
upon the effectiveness of other credit facilities or capital raising or the occurrence of a Change of Control, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective
date) if such condition is not satisfied. The Administrative 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 the
Borrower, the 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 Eurocurrency Rate Loan shall be accompanied by all accrued interest on the
amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable
Percentages. 
 (i) Section 4.05 is hereby amended by deleting the last sentence thereof. 

(j) Section 5.01 is hereby amended by deleting clauses (a)(iv) and (a)(vi) thereof and replacing each such clauses with
“[Reserved].” 
 (k) Section 6.02 is hereby amended by deleting the instance of “(other than pursuant to the Collateral
Documents)” therein. 

  
 8 

 (l) Section 6.03 is hereby amended in its entirety to read as follows: 

 

	 	6.03	Governmental Authorization; Other Consents. 

 No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, 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 those that have already been obtained and are in full force and effect. 
 (m)
Section 6.19 is hereby deleted in its entirety and replaced with “[Reserved.]” 
 (n) Section 6.21 is hereby amended in
its entirety to read as follows: 
  

	 	6.21	OFAC; Anti-Corruption Laws. 

 No Loan Party nor, to the knowledge of any Loan
Party, any Related Party, (a) is currently the subject of any Sanctions, (b) is located, organized or residing in any Designated Jurisdiction or (c) is or has been (within the previous five (5) years) engaged in any transaction
with any Person who is now or was then the subject of Sanctions or who is located, organized or residing in any Designated Jurisdiction. No Credit Extension, nor the proceeds from any Credit Extension, has been used, directly or indirectly, to lend,
contribute, provide or has otherwise made available to fund any activity or business in any Designated Jurisdiction or to fund any activity or business of any Person located, organized or residing in any Designated Jurisdiction or who is the subject
of any Sanctions, or in any other manner that will result in any violation by any Person (including any Lender, MLPFS, the Administrative Agent, the L/C Issuer or the Swing Line Lender) of Sanctions. The Loan Parties and their Subsidiaries have
conducted their business in all material respects in compliance with applicable Anti-Corruption Laws and have instituted and maintained policies and procedures designed to promote and achieve compliance with Anti-Corruption Laws. 

(o) Section 7.02(b) is hereby amended to read as follows: 

(b) concurrently with the delivery of the financial statements referred to in Sections 7.01(a) and 7.01(b), a
duly completed Compliance Certificate signed by the chief executive officer, chief financial officer, treasurer or controller of the Borrower (which delivery may, unless the Administrative Agent, or a Lender requests executed originals, be by
electronic communication including fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes); 

(p) Section 7.07(b) is hereby deleted in its entirety and replaced with “[Reserved.]” 

(q) Section 7.14 is hereby amended to read as follows: 

7.14 Anti-Corruption Laws. Conduct its businesses in compliance with applicable Anti-Corruption Laws and maintain policies and
procedures designed to promote and achieve compliance with Anti-Corruption Laws. 
 (r) Section 7.15 is hereby deleted in its entirety.

 (s) Section 8.01(b) is hereby amended to read as follows: 

(b) Liens existing on the Closing Date and any renewals or extensions thereof; provided that (i) the property
covered thereby is not increased and (ii) any Lien securing Indebtedness in excess of (x) $5,000,000 individually or (y) $20,000,000 in the aggregate (when taken together with all other Liens outstanding in reliance on this proviso
that are not set forth on Schedule 8.01) shall only be permitted to the extent such Lien is listed on Schedule 8.01; 

  
 9 

 (t) Section 8.01(o) is hereby amended by deleting the instance of “not constituting
Collateral” therein. 
 (u) Section 8.02(i) is amended by (i) replacing the reference to “Section 8.06(d)”
therein with “Section 8.06(g)” and (ii) replacing the reference to “70%” therein with “80%”. 

(v) The instance of “and” appearing in Section 8.02(m) is hereby removed, the “.” at the end of Section 8.02(n)
is replaced with “; and”, and a new Section 8.02(o) is added to read as set forth below: 
 (o) to the extent
constituting Investments, any Convertible Bond Hedge Transactions, Capped Call Transactions and Warrant Transactions entered into in connection with Convertible Bond Indebtedness. 

(w) Section 8.03(g) is hereby amended to read as follows: 

(g) secured Indebtedness; provided that no secured Indebtedness shall be permitted to be incurred pursuant to this
Section 8.03(g) if the incurrence of such Indebtedness would cause the aggregate principal amount of outstanding secured Indebtedness incurred pursuant to this Section 8.03(g) to exceed the greater of (i) 5% of
Consolidated Total Assets and (ii) $135,000,000, in each case, as of the most recently ended fiscal year for which financial statements have been delivered to the Administrative Agent in accordance with Section 7.01; 

(x) Section 8.06 of the Credit Agreement is hereby amended to read as follows: 

 

	 	8.06	Restricted Payments. 

 Declare or make, directly or indirectly, any Restricted
Payment, except that: 
 (a) each Subsidiary may make Restricted Payments to Persons that own Equity Interests in such
Subsidiary, ratably according to their respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made; 

(b) each Loan Party and each Subsidiary may declare and make dividend payments or other distributions payable solely in common
Equity Interests of such Person; 
 (c) the Foreign Subsidiary of a Loan Party that is party to a Permitted Repo Transaction
may declare and made dividend payments on its preferred Equity Interests pursuant to the terms of such Permitted Repo Transaction; 

(d) the Borrower may (i) enter into Capped Call Transactions, Convertible Bond Hedge Transactions and Warrant Transactions
in connection with the issuance of Convertible Bond Indebtedness permitted under Section 8.03(f) and satisfy its obligations to pay premiums upon entering into such transactions, and (ii) make any payment in connection with any such
Capped Call Transaction, Convertible Bond Hedge Transaction or Warrant Transaction by (x) delivery of shares of the Borrower’s common stock upon net share settlement thereof or (y) set-off and/or payment of an early termination
payment or similar payment thereunder upon any early termination thereof, in each case made in the Borrower’s common stock; 

  
 10 

 (e) the Borrower may issue shares of its common stock or make cash payments in
lieu of issuing fractional shares to satisfy obligations in respect of Convertible Bond Indebtedness (including, for the avoidance of doubt, cash payments in lieu of issuing fractional shares pursuant to the terms of any related Capped Call
Transaction, Convertible Bond Hedge Transaction or Warrant Transaction); 
 (f) the Borrower may receive shares of its common
stock on account of net share settlements or terminations of any Convertible Bond Hedge Transactions or Warrant Transactions entered into in connection with Convertible Bond Indebtedness; and 

(g) so long as (i) no Default exists immediately prior and after giving effect thereto and (ii) the Borrower is in
compliance with the financial covenants set forth in Section 8.11 after giving effect to such Restricted Payments (or, in the case of a dividend, upon the declaration thereof, so long as such dividend is paid within forty-five days of
the declaration thereof) on a Pro Forma Basis, the Borrower may make other Restricted Payments; provided, that, if immediately after giving effect to such Restricted Payment, the Consolidated Leverage Ratio (calculated on a Pro Forma Basis
after giving effect to such Restricted Payment) is greater than 2.50 to 1.0, no such Restricted Payment shall be made to the extent that the aggregate amount of all Restricted Payments made pursuant to this Section 8.06(g) plus
the aggregate amount of all Investments made pursuant to Section 8.02(i) (other than Investments constituting performance (but not payment) guaranties issued by a Loan Party for the benefit of a Subsidiary that is not a Loan Party)
exceeds the sum of (x) $100,000,000 plus (y) 80% of Consolidated Net Income for the cumulative accounting period commencing with the fiscal quarter ended December 29, 2012 through the fiscal quarter most recently ended prior to
the determination date for which financial statements have been delivered to the Administrative Agent pursuant to Section 7.01 minus (z) the Applicable Warrant Transaction Revolving Amount. 

(y) Section 8.09 is hereby amended to read as follows: 
  

	 	8.09	Burdensome Agreements. 

 Enter into, or permit to exist,
any Contractual Obligation that encumbers or restricts the ability of any such Person to (i) make Restricted Payments to any Loan Party, (ii) pay any Indebtedness or other obligation owed to any Loan Party, (iii) make loans or
advances to any Loan Party, (iv) transfer any of its property to any Loan Party, or (v) act as a Loan Party pursuant to the Loan Documents or any renewals, refinancings, exchanges, refundings or extension thereof, except (in respect of any
of the matters referred to in clauses (i) - (iv) above) for (1) this Agreement and the other Loan Documents, (2) any document or instrument governing Indebtedness incurred pursuant to Section 8.03(e), provided that
any such restriction contained therein relates only to the asset or assets constructed or acquired in connection therewith, (3) any Permitted Lien or any document or instrument governing any Permitted Lien, provided that any such
restriction contained therein relates only to the asset or assets subject to such Permitted Lien, (4) customary restrictions and conditions contained in any agreement relating to the sale of any property permitted under
Section 8.05, or otherwise arising in connection with a transaction that would constitute a Change of Control upon the consummation thereof, in each case, pending the consummation of such sale, or (5) customary provisions
restricting assignments, subletting or other transfers contained in leases, licenses, joint venture agreements and similar agreements entered into in the ordinary course of business, (6) restrictions applicable to Indebtedness, assets or Equity
Interests of a Person acquired by the Borrower or any Subsidiary as in effect at the time of acquisition, so long as such restrictions were not incurred in connection with, or in contemplation of, such acquisition, including amendments to such
instruments and refinancings 

  
 11 

 
of such Indebtedness, so long as the restrictions in such amendment or in the instrument governing such refinancing Indebtedness (A) are no less favorable in any material respect, when taken
as a whole, to the Lenders than the restrictions contained in the original instrument (as reasonably determined by the Borrower in good faith) and (B) are not expanded to apply to any additional Loan Parties or Subsidiaries, (7) an
agreement governing Indebtedness incurred pursuant to Section 8.03(f) or 8.03(g) if either (A) the Board of Directors of the Borrower, or a duly constituted committee thereof, in its reasonable and good faith judgment
determines that (x) such encumbrances or restrictions will not affect the ability of the Borrower to make principal, interest or fee payments on the Obligations and any other Indebtedness that is an obligation of the Borrower and (y) such
encumbrances or restrictions are not less favorable in any material respect to the Lenders than is customary in comparable financings or agreements or (B) such Indebtedness is incurred by a Subsidiary that is not a Loan Party; provided
that (x) the aggregate amount of Indebtedness permitted under this clause (B) shall not exceed $25,000,000 in the aggregate and (y) such encumbrances or restrictions shall apply only to those Subsidiaries obligated on such
Indebtedness and the Subsidiaries of such Subsidiaries, or (8) existing under, by reason of or with respect to Indebtedness or other agreements in effect on the Closing Date and any amendments, modifications, restatements, renewals, extensions,
supplements, refundings, replacements or refinancings thereof, provided that the encumbrances and restrictions in any such amendments, modifications, restatements, renewals, extensions, supplements, refundings, replacements or refinancings,
taken as a whole, are no less favorable in any material respect, than those contained in the Indebtedness or such other agreements, as the case may be, as in effect on the Closing Date. 

(z) Section 8.11(a) is hereby amended to read as follows: 

(a) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the
Borrower to be greater than 2.75 to 1.0; provided, however, in connection with any Permitted Acquisition for which the purchase consideration equals or exceeds $250,000,000, if the Consolidated Leverage Ratio would be greater than 2.50
to 1.0 but less than or equal to 3.00 to 1.0 after giving effect to such Permitted Acquisition on a Pro Forma Basis, the otherwise applicable maximum Consolidated Leverage Ratio for each of the four consecutive fiscal quarters, beginning with the
fiscal quarter in which such Permitted Acquisition occurs, shall, at the discretion of the Borrower, be increased to 3.25 to 1.0; provided, further, that (i) the maximum Consolidated Leverage Ratio shall revert to 2.75 to 1.0 at
the end of such four fiscal quarter period and (ii) after such reversion following the four fiscal quarter period during an election by the Borrower to increase the maximum Consolidated Leverage Ratio, the otherwise applicable Consolidated
Leverage Ratio shall be in effect for at least two consecutive fiscal quarters before the Borrower shall again be able to elect to increase the maximum Consolidated Leverage Ratio pursuant to this proviso. In the event the Borrower elects to
increase the Consolidated Leverage Ratio pursuant to this Section 8.11(a), the Borrower shall notify the Administrative Agent in writing at such time as the applicable Permitted Acquisition is consummated. 

(aa) A new Section 8.19 is hereby added to read as follows: 

8.19 Anti-Corruption Laws. Directly or indirectly use the proceeds of any Credit Extension for any purpose which would breach
applicable Anti-Corruption Laws. 

  
 12 

 (bb) Section 9.01(b) is hereby amended to read as follows: 

(b) Specific Covenants. Any Loan Party fails to perform or observe (i) any term, covenant or agreement contained in
Section 7.01, 7.02 or 7.03 (other than Section 7.03(a)) and such failure continues for five Business Days, or (ii) any term, covenant or agreement contained in any of 7.03(a), 7.05(a), 7.10
or 7.11, or Article VIII; or 
 (cc) Section 9.01(e) is hereby amended to read as follows: 

(e) Cross-Default. (i) Any Loan Party or any Material 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 of Indebtedness (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 the Threshold Amount, (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 (C) any other event occurs, in each case, the effect of which non-payment, 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 (other than (1) any prepayment of Indebtedness required in connection with a Disposition otherwise permitted thereunder and
(2) any conversion of Convertible Bond Indebtedness in accordance with its terms unless such conversion results from any default or event of default by any Loan Party or Material Subsidiary thereunder or a “change of control”,
“fundamental change” or similar occurrence thereunder); or (ii) there occurs (A) under any Swap Contract, Convertible Bond Hedge Transaction or Warrant Transaction an Early Termination Date (as defined in such Swap Contract,
Convertible Bond Hedge Transaction or Warrant Transaction) resulting from any event of default under such Swap Contract, Convertible Bond Hedge Transaction or Warrant Transaction as to which any Loan Party or any Subsidiary is the Defaulting Party
(as defined in such Swap Contract, Convertible Bond Hedge Transaction or Warrant Transaction) or (B) under any Swap Contract any Termination Event (as so defined) under such Swap Contract as to which any Loan Party or any Subsidiary is an
Affected Party (as so defined) and, in either event, the Swap Termination Value owed by such Loan Party or such Subsidiary as a result thereof is greater than the Threshold Amount (and, in the case of any Convertible Bond Hedge Transaction or
Warrant Transaction, the Swap Termination Value cannot be satisfied by the issuance of common stock of the Borrower); or 
 (dd)
Section 9.03 is hereby amended to read as follows: 
  

	 	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, subject to the provisions of Sections 2.14 and 2.15, be applied by the Administrative 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 the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

  
 13 

 Second, to payment of that portion of the Obligations constituting fees,
indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and 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 Letter of Credit Fees and interest
on the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third held by them; 

Fourth, to (a) payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C
Borrowings and (b) Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause
Fourth held by them; and 
 Last, the balance, if any, after all of the Obligations have been indefeasibly paid in
full, to the Borrower or as otherwise required by Law. 
 Subject to Sections 2.03(c) and 2.14, amounts used to Cash
Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth 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 to the other Obligations, if any, in the order set forth above 

(ee) Section 10.01 is hereby amended by deleting the second paragraph thereof in its entirety. 

(ff) Section 10.03 is hereby amended by replacing the last paragraph thereof with the following: 

The Administrative 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, or (iv) 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 the Administrative Agent. 
 (gg)
Section 10.10 is hereby amended to read as follows: 
  

	 	10.10  	Guaranty Matters. 

 Without limiting the provisions of
Section 10.09, each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if (i) such Person ceases to
be a Subsidiary as a result of a transaction permitted under the Loan Documents or (ii) such Person becomes an Immaterial Subsidiary or an Excluded Subsidiary. 

  
 14 

 Upon request by the Administrative Agent at any time, the Required Lenders will
confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 10.10. 

(hh) Section 10.11 is hereby deleted in its entirety. 

(ii) Section 11.01(a)(vi) is hereby deleted in its entirety and replaced with “[reserved];”. 

(jj) Section 11.02(c) is hereby amended to read as follows: 

(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 the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the 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 any Loan Party’s or the Administrative Agent’s transmission of Borrower Materials or notices through the Platform, any other electronic platform or
electronic messaging service, or through the Internet. 
 (kk) Section 11.02(e) is hereby amended by replacing the reference therein to
“or electronic” with “notices, “. 
 (ll) Section 11.17 is hereby amended to read as follows: 

Electronic Execution of Assignments and Certain Other Documents. The words “execute,”
“execution,” “signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation Assignment
and Assumptions, amendments or other modifications, Committed Loan Notices, Swingline Loan Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on
electronic platforms approved by the Administrative Agent, 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; provided that notwithstanding anything contained herein to the contrary the Administrative Agent is under no obligation to agree to accept electronic signatures in any
form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it. 

  
 15 

 (mm) Exhibit 1.01 is hereby deleted in its entirety. 

(nn) Exhibits 7.02 and 7.13 are hereby amended in their entirety as set forth on Exhibits 7.02 and 7.13 hereto, respectively. 

2. Conditions Precedent. This Amendment shall be effective upon satisfaction or waiver of the following conditions: 

(a) The Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrower, the Lenders and
the Administrative Agent; 
 (b) The Administrative Agent shall have received satisfactory opinions of counsel to the
Borrower (which shall cover, among other things, authority, legality, validity, binding effect and enforceability of the Amendment) and such corporate resolutions, secretary’s certificates, incumbency certificates, good standing certificates
and other documents as the Administrative Agent shall reasonably require; 
 (c) The Administrative Agent shall have received
a certificate of the Borrower certifying that there shall not have occurred since December 28, 2013 any event or condition that has had or could be reasonably expected, either individually or in the aggregate, to have a Material Adverse Effect;

 (d) All accrued reasonable and documented fees and expenses of the Administrative Agent and the Lenders (including the
reasonable and documented fees and expenses of Moore & Van Allen PLLC) shall have been paid. 
 3. Release. 

(a) The Borrower represents and warrants to the Administrative Agent and the Lenders that, as of the First Amendment Effective
Date, each of Altos Design Automation, Inc., a Delaware corporation, Azuro, Inc., a Delaware corporation, Cadence Credit Corporation, a Delaware corporation, Cadence Design Systems Leasing, Inc., a Delaware corporation, Chip Estimate Corporation, a
Delaware corporation, Daffodil Acquisition II, Inc., a Delaware corporation, Denali Software, Inc., a California corporation, Quickturn Design Systems, Inc., a Delaware corporation, Sigrity, Inc., a California corporation, Taray, Inc., a California
corporation, TVP I LLC, a Delaware corporation, TVP II LLC, a Delaware corporation, Verisity Design, Inc., a California corporation (each, a “Released Guarantor” and, collectively, the “Released Guarantors”),
constitutes an Immaterial Subsidiary under the Credit Agreement, and as such, is not required to be a Guarantor under the Credit Agreement. 

(b) The Administrative Agent and the Lenders, in reliance upon the representations and warranties of the Borrower set forth in
clause (a) above, hereby agree that each Released Guarantor is hereby released from its obligations under the Credit Agreement and each other Loan Document, including, without limitation, Article IV of the Credit Agreement; and 

(c) Effective as of the First Amendment Effective Date, the security interest granted to the Administrative Agent under the
Collateral Documents in any Collateral owned by the Borrower and the Released Guarantors shall be automatically released. The Administrative Agent agrees to deliver to the Borrower the original stock certificates relating to all Pledged Equity (or
lost certificate affidavits in a form reasonably acceptable to the Borrower) and any instruments pledged by the Borrower or such Released Guarantors that are in the Administrative 

  
 16 

 
Agent’s possession and the Administrative Agent agrees to execute and/or deliver to the Borrower, at the sole expense of the Borrower, any UCC-3 termination statements, releases of other
liens, discharges, terminations and other release documentation reasonably requested by the Borrower in order to give evidence of the release contemplated by this Section 3. On the First Amendment Effective Date, the Administrative Agent
authorizes the Borrower to file UCC-3 termination statements with respect to the UCC financing statements filed by the Administrative Agent referencing the Borrower and the Released Guarantors. 

4. Miscellaneous. 
 (a)
Except as expressly modified and amended in this Amendment, all of the terms, provisions and conditions of the Credit Agreement, and the obligations of the Loan Parties thereunder and under the other Loan Documents, are hereby ratified and confirmed
and shall remain in full force and effect according to their terms. Any and all other documents heretofore, now or hereafter executed and delivered pursuant to the terms of the Credit Agreement are hereby amended so that any reference to the Credit
Agreement shall mean a reference to the Credit Agreement as amended hereby. 
 (b) The Borrowers hereby represents and warrants as follows:

 (i) The Borrower has taken all necessary action to authorize the execution, delivery and performance of this Amendment.

 (ii) This Amendment has been duly executed and delivered by the Borrower and constitutes each of the Loan Parties’
legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be subject to (A) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting
creditors’ rights generally and (B) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 

(iii) No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental
authority or third party is required in connection with the execution, delivery or performance by the Borrower of this Amendment. 
 (c) The
Borrower represents and warrants to the Lenders that after giving effect to this Amendment (i) the representations and warranties of the Loan Parties set forth in Article VI of the Credit Agreement and in each other Loan Document are true and
correct as of the date hereof with the same effect as if made on and as of the date hereof, except to the extent such representations and warranties expressly relate solely to an earlier date and (ii) no Default exists. 

(d) This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all
of which shall constitute one and the same instrument. Delivery of an executed counterpart of this Amendment by telecopy or pdf shall be effective as an original and shall constitute a representation that an executed original shall be delivered.

 (e) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [signature pages follow] 

  
 17 

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

							
	BORROWER:	 		 	CADENCE DESIGN SYSTEMS, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Geoffrey G. Ribar

		 		 	Name:	 	Geoffrey G. Ribar
		 		 	Title:	 	Senior Vice President and Chief Financial Officer

							
	ADMINISTRATIVE	 		 	
	AGENT:	 		 	BANK OF AMERICA, N.A.,
		 		 	as Administrative Agent
				
		 		 	By:	 	 /s/ Joan Mok

		 		 	Name:	 	Joan Mok
		 		 	Title:	 	Vice President

					
	LENDERS:	 	 BANK OF AMERICA, N.A.,
 as a
Lender, L/C Issuer and Swing Line Lender

			
		 	By:	 	 /s/ Patrick Martin

		 	Name:	 	Patrick Martin
		 	Title:	 	Managing Director
		
		 	 JPMORGAN CHASE BANK, N.A.,
 as a
Lender

			
		 	By:	 	 /s/ Caitlin Stewart

		 	Name:	 	Caitlin Stewart
		 	Title:	 	Vice President
		
		 	 MORGAN STANLEY BANK, N.A.,
 as a
Lender

			
		 	By:	 	 /s/ Jonathon Rauen

		 	Name:	 	Jonathon Rauen
		 	Title:	 	Authorized Signatory
		
		 	 HSBC BANK USA, NATIONAL ASSOCIATION,

as a Lender

			
		 	By:	 	 /s/ Adriana D. Collins

		 	Name:	 	Adriana D. Collins
		 	Title:	 	Vice President
		
		 	 MUFG UNION BANK, N.A.,
 as a
Lender

			
		 	By:	 	 /s/ Raed Alfayoumi

		 	Name:	 	Raed Alfayoumi
		 	Title:	 	Director
		
		 	 THE BANK OF NOVA SCOTIA,
 as a
Lender

			
		 	By:	 	 /s/ Winston Lua

		 	Name:	 	Winston Lua
		 	Title:	 	Director
		
		 	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Lender

			
		 	By:	 	 /s/ Monique Devlin

		 	Name:	 	Monique Devlin
		 	Title:	 	Senior Vice President

 Exhibit 7.13 

FORM OF JOINDER AGREEMENT 

THIS JOINDER AGREEMENT (the “Agreement”), dated as of
            , 20    , is by and between                     , a
                     (the “Subsidiary”), and BANK OF AMERICA, N.A., in its capacity as Administrative Agent under that certain
Credit Agreement (as it may be amended, modified, restated or supplemented from time to time, the “Credit Agreement”), dated as of December 12, 2012, by and among Cadence Design Systems, Inc., a Delaware corporation (the
“Borrower”), the Guarantors, the Lenders and Bank of America, N.A., as Administrative Agent. All of the defined terms in the Credit Agreement are incorporated herein by reference. 

The Loan Parties are required by Section 7.13 of the Credit Agreement to cause the Subsidiary to become a “Guarantor”.

 Accordingly, the Subsidiary hereby agrees as follows with the Administrative Agent, for the benefit of the Lenders: 

1. The Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the Subsidiary will be deemed to be a
party to the Credit Agreement and a “Guarantor” for all purposes of the Credit Agreement, and shall have all of the obligations of a Guarantor thereunder as if it had executed the Credit Agreement. The Subsidiary hereby ratifies, as of the
date hereof, and agrees to be bound by, all of the terms, provisions and conditions applicable to the Guarantors contained in the Credit Agreement. Without limiting the generality of the foregoing terms of this paragraph 1, the Subsidiary hereby
jointly and severally together with the other Guarantors, guarantees to each Lender and the Administrative Agent, as provided in Article IV of the Credit Agreement, the prompt payment of the Obligations in full when due (whether at stated
maturity, as a mandatory prepayment, by acceleration, a mandatory cash collateralization or otherwise) strictly in accordance with the terms thereof. 

2. The address of the Subsidiary for purposes of all notices and other communications is
                    ,                     ,
Attention of                     (Facsimile No.
                    ). 
 3. The
Subsidiary hereby waives acceptance by the Administrative Agent and the Lenders of the guaranty by the Subsidiary under Article IV of the Credit Agreement upon the execution of this Agreement by the Subsidiary. 

4. This Agreement may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken together
shall constitute one contract. 
 5. This Agreement shall be governed by and construed and interpreted in accordance with the laws of the
State of New York. 

 IN WITNESS WHEREOF, the Subsidiary has caused this Joinder Agreement to be duly executed by its
authorized officers, and the Administrative Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written. 

 

			
	 [SUBSIDIARY]

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	 Acknowledged and accepted:

	
	 BANK OF AMERICA, N.A.,

	 as Administrative Agent

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 Exhibit 7.02 

FORM OF COMPLIANCE CERTIFICATE 

For the fiscal quarter ended
                    , 20     (“Subject Period”). 

I,                     , [Title] of
Cadence Design Systems, Inc. (the “Borrower”) hereby certify that, to the best of my knowledge and belief, with respect to that certain Credit Agreement dated as of December 12, 2012 (as amended, modified, restated or
supplemented from time to time, the “Credit Agreement”; all of the defined terms in the Credit Agreement are incorporated herein by reference) among the Borrower, the Guarantors, the Lenders and Bank of America, N.A., as
Administrative Agent: 
 (b) The company-prepared financial statements which accompany this certificate are true and correct
in all material respects and have been prepared in accordance with GAAP applied on a consistent basis, subject to changes resulting from normal year-end audit adjustments and the absence of footnotes. 

Since              (the date of the last similar certification, or,
if none, the Closing Date) no Default or Event of Default has occurred and is continuing under the Credit Agreement; 
 Delivered herewith
are detailed calculations demonstrating compliance by the Loan Parties with the financial covenants contained in Section 8.11 of the Credit Agreement as of the end of the fiscal period referred to above. 

This              day of
            , 20    . 
  

			
	CADENCE DESIGN SYSTEMS, INC.,
	a Delaware corporation
		
	By:	 	  

	Name:	 	
	Title:	 	

 Attachment to Officer’s Certificate 

Computation of Financial Covenants 
  

					
	I.	  	Section 8.11(a) – Consolidated Leverage Ratio.	  	 
	 	  	 	  	 
			
		  	 A.          Consolidated Funded Indebtedness at end of Subject Period
	  	
			
		  	   1.        as defined:
	  	$                                
			
		  	 B.          Consolidated EBITDA for Subject Period
	  	
			
		  	   1.        line II.A.14 below:
	  	$                                
			
		  	 C.          Consolidated Leverage Ratio
	  	
			
		  	   (Line I.A.1 divided by Line I.B.1):
	  	                    to 1.00
			
		  	Maximum Permitted:	  	         
2.751 to 1.00
			
	II.	  	Section 8.11(b) –Consolidated Interest Coverage Ratio.	  	
			
		  	 A.          Consolidated EBITDA2 for Subject Period
	  	
			
		  	   1.        Consolidated Net Income for Subject Period:
	  	$                                
			
		  	   2.        plus Consolidated Interest Charges for the Subject Period:
	  	$                                
			
		  	   3.        plus the provision for federal, state, local and foreign income taxes
payable for such period, including, without limitation, any franchise taxes or other taxes based on income, profits or capital:
	  	$                                
			
		  	   4.        plus depreciation and amortization expense for the Subject
Period:
	  	$                                
			
		  	   5.        plus non-cash stock compensation expense for the Subject Period:
	  	$                                
			
		  	   6.        plus restructuring expenses (not to exceed $35,000,000 in the aggregate
since December 12, 2012):
	  	$                                

  

	1 	To the extent included in Consolidated Net Income, the effect of purchase accounting adjustments for Permitted Acquisitions, any non-cash gains or losses from the mark-to-market of Swap Contracts and any currency
translation gains and losses shall be excluded from the calculation of Consolidated EBITDA 

	2 	Maximum permitted Consolidated Leverage Ratio may be increased to 3.25x in accordance with Section 8.11(a) of the Credit Agreement 

							
				
		  	   7.        plus non-cash charges resulting from the application of FASB ASC 805
with respect to earn-outs incurred in connection with Permitted Acquisitions:
	  	$                	 	
				
		  	   8.        plus losses resulting from the Disposition of assets outside of the
ordinary course of business, including, without limitation, any net loss from discontinued operations and any net loss on the disposal of discontinued operations:
	  	$                	 	
				
		  	   9.        plus, to the extent not capitalized, expenses or charges related to
the closing of the Credit Agreement or any amendment or waiver related thereto:
	  	$                	 	
				
		  	   10.      plus other non-cash expenses and charges (excluding write-downs of accounts
receivable and any other non-cash expenses to the extent representing accruals of or reserves for cash expenses in any future period):
	  	$                	 	
				
		  	   11.      plus the sum of (A) fees, expenses, premiums and other charges in connection with
the issuance or repayment of Indebtedness, the issuance of Equity Interests, any refinancing transaction, amendment or other modification of any debt instrument, the making of any Permitted Acquisition, or any Disposition (other than a Disposition
of an asset in the ordinary course of business) to the extent permitted by the Credit Agreement, whether or not consummated, (B) any losses attributable to the extinguishment of any Indebtedness in respect of Swap Contracts and (C) other
non-recurring cash expenses and charges (the sum of which is not to exceed $25,000,000 for the Subject Period):
	  	$                	 	
				
		  	   12.      minus any gains resulting from the Disposition of assets outside of the ordinary
course of business, including, without limitation, any net income or gain from discontinued operations and any net income or gain on the disposal of discontinued operations:
	  	$                	 	
				
		  	   13.      minus non-cash income or gains for the Subject Period:
	  	$                	 	
				
		  	   14.      Consolidated EBITDA (total of lines 1-13):
	  	$                	 	
				
		  	 B.          Consolidated Interest Charges for the Subject Period:
	  		 	
				
		  	   1.        as defined:
	  	$                	 	

							
				
		  	 C.          Consolidated Interest Coverage Ratio
	  		 	
			
		  	   (Line II.A.14 divided by Line II.B.1):
	  	_________  to 1.00
			
		  	Minimum Required:	  	          3.00  to 1.00

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