Document:

Exhibit 10.1

 

Execution Version

 

MEMBERSHIP INTEREST CONTRIBUTION AGREEMENT

 

among

 

LANDMARK DIVIDEND GROWTH FUND - E LLC

 

LANDMARK DIVIDEND LLC

 

and

 

LANDMARK INFRASTRUCTURE PARTNERS LP

 

Dated August 18, 2015

 

 

MEMBERSHIP INTEREST CONTRIBUTION AGREEMENT

 

THIS MEMBERSHIP INTEREST CONTRIBUTION AGREEMENT (the “Agreement”) is entered into and effective as of August 18, 2015 (the “Effective Date”), by and among Landmark Dividend Growth Fund - E LLC, a Delaware limited liability company (“Fund E”), Landmark Infrastructure Partners LP, a Delaware limited partnership (the “Partnership”) and, solely with respect to Article 9, Landmark Dividend LLC, a Delaware limited liability company (the “Sponsor”).  Fund E and the Partnership may be singularly referred to as a “Party” and collectively referred to as the “Parties.”

 

WITNESS:

 

WHEREAS, Fund E owns 100% of the issued and outstanding membership interest (the “Membership Interest”) of LD Acquisition Company 11 LLC, a Delaware limited liability company (“LD 11”);

 

WHEREAS, Fund E desires to contribute and convey to the Partnership, and the Partnership wishes to accept the contribution from Fund E of the Membership Interest, on the terms and subject to the conditions set forth in this Agreement; and

 

WHEREAS, the Partnership, upon the acceptance of the contribution of the Membership Interest from Fund E, intends to contribute the Membership Interest to its wholly owned subsidiary, Landmark Infrastructure Operating Company LLC, a Delaware limited liability company (“OpCo”).

 

NOW, THEREFORE, in consideration of the promises and mutual representations, warranties and covenants in this Agreement, the Parties agree as follows:

 

ARTICLE 1
 DEFINITIONS

 

1.1                               The following terms have the meanings specified or referred to in this Article 1.

 

“Action” has the meaning set forth in Section 3.12.

 

“Accredited Investor” has the meaning set forth in Section 3.18(a).

 

“Affiliate” means, as to any specified entity, any other entity that, directly or indirectly through one or more intermediaries or otherwise, controls, is controlled by or is under common control with the specified entity.  For purposes of this definition, “control” of an entity means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such entity, whether by contract or otherwise.  Notwithstanding anything herein to the contrary, for the purposes of this Agreement, the Partnership and its subsidiaries (including OpCo) shall be deemed not to be “Affiliates” of Fund E and LD 11 and each of their respective other Affiliates and vice versa.

 

“Agreement” has the meaning set forth in the preamble.

 

“Allocation” has the meaning set forth in Section 2.4.

 

“Assets” means with respect to each asset listed on Exhibit A (each a “Scheduled Asset”), all of LD 11’s right, title and interest in and to all real and personal property to the extent constituting or otherwise relating to such Scheduled Asset, including the following (in each case to the extent applicable):

 

 

(i)                                     Any real property and other interests in land acquired and owned by LD 11 with respect to any such Scheduled Asset, including any easement, right of way, leasehold interest or similar right to use and/or occupy any real property and/or land (each, a “Real Property Interest”);

 

(ii)                                  The rights of the lessor or landlord under any leases, subleases, licenses, or other occupancy agreements (as amended) or arrangements acquired and held by LD 11 and pursuant to which third-party telecommunications, billboard, wind turbine or other entities occupy or use any real property or personal property relating to such Scheduled Asset; and

 

(iii)                               Any consents, non-disturbance agreements, purchase agreements, permits, licenses and/or other ancillary agreements or rights acquired, obtained or otherwise held by LD 11 with respect to any Scheduled Assets.

 

For purposes of clarity, to the extent any contract or agreement relates to both a Scheduled Asset and a separate asset owned, acquired or to be acquired by an Affiliate of Fund E, such contract or agreement shall constitute a portion of the Assets only to the extent relating to such Scheduled Asset and “Assets” shall not include any right, title and interest in and to such contract or agreement to the extent relating to such other asset owned, acquired or to be acquired by such Affiliate of Fund E.

 

“Assignment Agreements” means (i) that certain Assignment Agreement dated the date hereof between Fund E and the Partnership, evidencing the assignment of the Membership Interest to the Partnership, (ii) that certain Assignment Agreement dated the date hereof between the Partnership and OpCo, evidencing the assignment of the Membership Interest to OpCo and (iii) that certain Assignment and Assumption Agreement dated the date hereof between LD 11 and Landmark Infrastructure Asset OpCo LLC, evidencing the assignment of certain Assets to Landmark Infrastructure Asset OpCo LLC, each substantially in the form of Exhibit C.

 

“Audited Financial Statements” has the meaning set forth in Section 3.7(a).

 

“Cash Consideration” has the meaning set forth in Section 2.2(c).

 

“Closing” means the consummation of the transactions contemplated by this Agreement.

 

“Closing Date” has the meaning set forth in Section 13.1.

 

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

 

“Conflicts Committee” means the Conflicts Committee of the Board of Directors of Landmark Infrastructure Partners GP LLC, the general partner of the Partnership.

 

“Credit Facility Amendment Agreement” means that certain Amendment Agreement, dated as of the date hereof, among the Sponsor, the Partnership, Suntrust Bank and the other parties thereto.

 

“Effective Date” has the meaning set forth in the preamble.

 

“Environmental Law” means any applicable United States federal, state, provincial or local law, statute, ordinance, regulation, permit or valid and legally-binding order of any Governmental Authority relating to (a) the protection, preservation or restoration of the environment (including air, surface water, ground water, drinking water supply, surface land, subsurface land, plant and animal life or any other natural resource), or (b) the exposure to, or the release or disposal of Hazardous Substances. For purposes of this definition, “Environmental Law” shall include the Comprehensive Environmental Response, Compensation, and Liability Act (42 U.S.C. § 9601 et seq.), or any other law of similar effect.

 

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“Environmental Liabilities” means those liabilities and obligations, first arising prior to the Closing Date, related to the Assets referred to in Schedule 3.16.

 

“Environmental Permits” means any permits, certificates, licenses, franchises, writs, variances, exemptions, orders and other authorizations of all Governmental Authorities issued under any Environmental Law.

 

“Fund E” has the meaning set forth in the preamble.

 

“Fund E Facility” means that certain Credit Agreement, dated as of February 1, 2013 (as amended, supplemented or otherwise modified from time to time, the “Fund E Credit Agreement”) among Landmark Dividend Growth Fund — E, LLC, LD Acquisition Company 11 LLC, the lenders party thereto, and Regions Bank, as administrative agent.

 

“Fund E Indebtedness” means $29,219,806.45, representing a portion of the outstanding indebtedness under the Fund E Facility.

 

“Fund E Indemnitees” has the meaning set forth in Section 9.2.

 

“GAAP” means United States generally accepted accounting principles in effect from time to time.

 

“Governmental Authority” means any federal, state, local, foreign, multi-national, supra-national, national, regional or other governmental agency, authority, administrative agency, regulatory body, commission, board, bureau, agency, officer, official, instrumentality, court or arbitral tribunal having governmental or quasi-governmental powers or any other instrumentality or political subdivision thereof.

 

“Hazardous Substance” means any substance or material listed, defined, classified or regulated as a pollutant, contaminant, hazardous substance, toxic substance, hazardous waste, or special waste under any applicable Environmental Law, including petroleum, petroleum products, volatile organic compounds, semi-volatile organic compounds, pesticides, polychlorinated biphenyls and friable asbestos and asbestos-containing materials.

 

“Indemnified Party” has the meaning set forth in Section 9.4.

 

“Indemnifying Party” has the meaning set forth in Section 9.4.

 

“LD 11” has the meaning set forth in the recitals.

 

“Lien” means any mortgage, pledge, lien, charge, security interest, claim or other encumbrance.

 

“Loss” has the meaning set forth in Section 9.1.

 

“Membership Interest” has the meaning set forth in the recitals.

 

“OpCo” has the meaning set forth in the recitals.

 

“Ordinary Course of Business” means, when used in reference to any Person, the ordinary course of business consistent with past customs and practices of such Person.

 

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“Outside Date” has the meaning set forth in Section 12.1(d).

 

“Partnership” has the meaning set forth in the preamble.

 

“Partnership Indemnitees” has the meaning set forth in Section 9.1.

 

“Party” has the meaning set forth in the preamble.

 

“Permitted Liens” means:

 

(a)                                 Liens for current period Taxes which are not yet due and payable, or are otherwise being contested in good faith;

 

(b)                                 inchoate Liens arising by operation of law, including materialman’s, mechanic’s, repairman’s, laborer’s, warehousemen, carrier’s, employee’s, contractor’s and operator’s Liens arising in the Ordinary Course of Business but only to the extent such Liens secure obligations that, as of the Closing, are not due and payable;

 

(c)                                  minor defects, irregularities in title, easements, encroachments, rights of way, servitudes and similar rights (whether affecting fee interests, a landlord’s interest in leased properties or a tenant’s interest in leased properties) that individually or in the aggregate (i) have not had, and are not reasonably likely to have an adverse effect on the ability of the Partnership or OpCo to use or enjoy the benefits of the Assets in the manner previously owned or used by Fund E and (ii) do not materially impair the value of the Assets;

 

(d)                                 Liens securing the Fund E Facility which shall be assigned as of the Closing Date;

 

(e)                                  Liens securing any financing of the Partnership or OpCo;

 

(f)                                   Liens affecting a fee owner’s interest in any real property or land that is subject to an easement, right of way, leasehold interest or similar right to use and/or occupy such real property and/or land held by Fund E so long as such Liens do not breach and are not reasonably likely to breach a customary covenant of quiet enjoyment (due to the existence of a non-disturbance agreement or other arrangement or legal or equitable right in which the holder of such easement, right of way, leasehold interest or similar right is recognized and protected); and

 

(g)                                  the Liens set forth on Schedule 1.1.

 

“Person” means any natural person, firm, limited partnership, general partnership, association, corporation, limited liability company, company, trust, other organization (whether or not a legal entity), public body or government, including any Governmental Authority.

 

“Property Tax” means all real property Taxes, personal property Taxes and similar ad valorem Taxes.

 

“Real Property Interest” has the meaning assigned to such term in the definition of “Assets.”

 

“Rent and A/R” has the meaning set forth in Section 13.4(a)(i).

 

“Retained Liabilities” means those liabilities and obligations set forth on Schedule 1.1(a).

 

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“Scheduled Asset” has the meaning assigned to such term in the definition of “Assets.”

 

“Securities Act” has the meaning set forth in Section 3.18(a).

 

“Sponsor” has the meaning set forth in the preamble.

 

“Tax” means any federal, state, local or foreign income, gross receipts, branch profits, license, payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, escheat, environmental, customs duties, capital stock, franchise, profits, withholding, social security, unemployment, disability, real property, personal property, sales, use, transfer, registration, ad valorem, value added, alternative or add-on minimum or estimated tax or other tax of any kind whatsoever, including any interest, penalty or addition thereto, whether disputed or not and including any obligation to indemnify or otherwise assume or succeed to the Tax liability of any other Person by law, by contract or otherwise.

 

“Tax Return” means any return, declaration, report, claim for refund, or information return or statement relating to Taxes, including any schedule or attachment thereto, and including any amendment thereof.

 

“Taxable Consideration” has the meaning set forth in Section 2.4.

 

“Unit Consideration” has the meaning set forth in Section 2.2(a).

 

“Units” means 1,998,852 common units representing limited partner interests in the Partnership.

 

1.2                               Interpretation.  Whenever the context requires, the gender of all words used in this Agreement includes the masculine, feminine and neuter and terms defined in the singular have the corresponding meanings in the plural, and vice versa.  Except as this Agreement otherwise specifies, all references herein to any law, are references to that law (and any rules and regulations promulgated thereunder), as the same may have been amended.  The word “includes” or “including” means “including, but not limited to,” unless the context otherwise requires.  The words “shall” and “will” are used interchangeably and have the same meaning.  The words “this Agreement,” “hereof,” “hereby,” “herein,” “hereunder” and similar terms in this Agreement refer to the relevant agreement as a whole and not any particular Section or Article in which such words appear.  If a word or phrase is defined, its other grammatical forms have a corresponding meaning.  Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless business days are specified.  Time periods within or following which any payment is to be made or an act is to be done shall be calculated by excluding the day on which the time period commences and including the day on which the time period ends.  Unless specifically provided for in this Agreement, the term “or” shall not be deemed to be exclusive.  References to a Person are also to its successors and/or permitted assigns, if any.  All exhibits and annexes attached to this Agreement constitute a part of this Agreement and are incorporated herein for all purposes.  All references to currency in this Agreement shall be to, and all payments required under this Agreement shall be paid in, lawful currency of the United States.

 

ARTICLE 2
 CONTRIBUTION

 

2.1                               Contribution of Assets.  Subject to the terms and conditions set forth herein, Fund E agrees to contribute, assign, transfer, convey and deliver to the Partnership, and the Partnership agrees to accept the contribution of the Membership Interest, free and clear of any Lien other than the Permitted Liens.

 

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2.2                               Consideration.  The consideration for the contribution of the Membership Interest shall be equal to the following:

 

(a)                                 the Units issued to Fund E (the “Unit Consideration”);

 

(b)                                 the assumption of Fund E Indebtedness pursuant to the Credit Facility Amendment Agreement, executed on the date hereof; and

 

(c)                                  $5,718,263.07 in cash, subject to adjustment as set forth in Section 13.4, (the “Cash Consideration”).

 

2.3                               Tax Treatment.  Fund E and the Partnership intend that the contribution made pursuant to this Article 2 shall, except as otherwise required by Section 707(a)(2)(B) of the Code and its implementing Treasury regulations, be treated as a contribution in exchange for a partnership interest in a transaction consistent with the requirements of Section 721(a) of the Code.  Fund E and the Partnership further intend that the Cash Consideration shall be paid to reimburse Fund E for capital expenditures described in Section 1.707-4(d) of the Treasury regulations to the extent such distribution does not exceed the amount of capital expenditures described in Section 1.707-4(d) of the Treasury regulations.

 

2.4                               Allocation.  To the extent any portion of the consideration is taxable, such amount (the “Taxable Consideration”) shall be allocated among the Assets in accordance with Section 1060 of the Code and the Treasury regulations promulgated thereunder (and any similar provision of state, local or foreign law, as appropriate) (the “Allocation”).  The Allocation shall be delivered by Fund E to the Partnership within 60 days after the Closing Date for the Partnership’s approval, which approval shall not be unreasonably withheld.  Fund E and the Partnership shall work in good faith to resolve any disputes relating to the Allocation.  If the consideration is adjusted pursuant to any provision of this Agreement, the Allocation will reflect such adjustment as mutually agreed by Fund E and the Partnership.  Fund E and the Partnership shall file all Tax Returns (including, but not limited to, IRS Form 8594) consistent with the Allocation.  Neither Fund E nor the Partnership shall take any Tax position inconsistent with such Allocation and neither Fund E nor the Partnership shall agree to any proposed adjustment to the Allocation by any Taxing authority without first giving the other Party prior written notice; provided, however, that nothing contained herein shall prevent Fund E or the Partnership from settling any proposed deficiency or adjustment by any Taxing authority based upon or arising out of the Allocation, and neither Fund E nor the Partnership shall be required to litigate before any court any proposed deficiency or adjustment by any Taxing authority challenging such Allocation.

 

ARTICLE 3
 REPRESENTATIONS AND WARRANTIES OF FUND E

 

Fund E represents and warrants as of the date hereof and as of the Closing Date as follows:

 

3.1                               Organization of Fund E.  Fund E is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware and is qualified to conduct business in each jurisdiction where the nature of its business or the ownership of its properties require it to be qualified, except where the failure to be so qualified would not have a material adverse effect.

 

3.2                               Authority and Action.  Fund E has the limited liability company power and authority to enter into this Agreement and to perform all of its obligations and consummate the transactions contemplated hereby.  Fund E has taken or will take all necessary and appropriate limited liability company actions to authorize, execute and deliver this Agreement and to consummate the transactions contemplated hereby.  This Agreement is, and each agreement and instrument to be executed and 

 

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delivered by Fund E pursuant hereto will be, when so executed and delivered, a valid and binding obligation of Fund E enforceable in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, moratorium or similar laws affecting the rights of creditors generally and by general principles of equity.

 

3.3                               No Violation; Consents.  The execution and delivery of this Agreement (or any related instrument or agreement) by Fund E does not, and the consummation of the transactions contemplated hereby and the performance by Fund E of the obligations that it is obligated to perform hereunder do not and at the Closing will not: (a) violate any provision of the organizational documents of Fund E or LD 11; (b) violate, or result in the violation of or acceleration of, or entitle any party to accelerate any obligation or indebtedness under, or result in the imposition of any Lien upon any Asset or the Membership Interest, pursuant to, any mortgage, lien, lease, franchise, license, permit, agreement or other instrument to which Fund E or LD 11 is a party, or by which Fund E or LD 11 is bound, and that could have a material adverse effect upon this transaction or the Parties; or (c) contravene or violate any municipal, state or federal ordinance, law, rule, regulation, judgment, order, writ, injunction, or decree in any material respect.  Except as set forth on Schedule 3.3, no consent, approval, waiver or authorization is required to be obtained by Fund E or LD 11 from any Person in connection with the execution, delivery and performance by Fund E of this Agreement and the consummation of the transactions contemplated hereby.

 

3.4                               Title to Assets.  LD 11 owns and has good and marketable title to all of the Assets, free and clear of Liens other than the Permitted Liens.  LD 11 owns no assets other than the Assets.

 

3.5                               Membership Interest.  Fund E owns and has good and marketable title to the Membership Interest, free and clear of Liens other than Permitted Liens. The Membership Interest has been duly authorized, validly issued, fully paid, and nonassessable, except as such nonassessability may be affected by Section 18-607 of the Delaware Limited Liability Company Act.  The Membership Interest constitutes all of the outstanding ownership interest in LD 11, and there is no purchase option, call option, right of first refusal, preemptive right, subscription right or other similar right with respect to the Membership Interest under any provision of applicable law, the organizational documents of LD 11 or any contract to which LD 11 or Fund E is party or by which any of their assets are bound. There are no rights or contracts (including options, calls, warrants, or preemptive rights) obligating LD 11 to issue, sell, pledge, dispose of or encumber any of its equity interests. There are no outstanding or authorized membership interest appreciation, phantom unit, profit participation or similar rights affecting any equity interest of LD 11 or any securities that are convertible, exercisable or exchangeable into any equity interest of LD 11. Other than this Agreement and the LD 11 organizational documents, there are no agreements, instruments, proxies, judgments or decrees, whether written or oral, express or implied, relating to the voting of, sale, assignment, conveyance, transfer, delivery, right of first refusal, option or limitation on transfer of any equity interest of LD 11 (or any security convertible, exercisable or exchangeable into same).

 

3.6                               Contracts/Agreements.

 

(a)                                 Fund E has not breached or defaulted on any of its obligations under any material contracts or agreements relating to any of the Assets or LD 11, including the Amended and Restated Limited Liability Company Agreement of LD 11 in effect as of the date hereof.

 

(b)                                 Since January 1, 2013, LD 11 has not breached or defaulted on any of its obligations under any material contracts or agreements relating to any of the Assets.

 

(c)                                  At no time since January 1, 2013 and prior to the Effective Date has LD 11 or any of its Affiliates delivered or received notice of a breach or default by either LD 11 or any

 

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counterparty under any material contract or agreement relating to any of the Assets or notice of any fact, condition or circumstance that would constitute a breach or default by either LD 11 or other counterparty under any material contract or agreement relating to any of the Assets.

 

(d)                                 Neither Fund E nor LD 11 have received notice of any intent or desire to terminate, amend or modify any material contract or agreement relating to any of the Assets or abandon or surrender any interest held by the counterparty under any material contract or agreement relating to any of the Assets.

 

(e)                                  Each contract that is an Asset constitutes the valid and binding obligation of LD 11 and, to LD 11’s knowledge, as applicable, the other party or parties thereto, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws, and is in full force and effect in all material respects.

 

3.7                               LD 11 Financial Statements.

 

(a)                                 Fund E has delivered to the Partnership (i) the audited consolidated financial statements, which include the consolidated balance sheets as of December 31, 2014 and 2013, and the related consolidated statements of operations, changes in members’ capital, and cash flows for the year ended December 31, 2014 and for the period from February 1, 2013 (Inception) to December 31, 2013 (the “Audited Financial Statements”), and (ii) the unaudited interim consolidated balance sheet as of June 30, 2015 and consolidated statement of operations, changes in members’ capital, and cash flows for the six months ended June 30, 2015 (the “Interim Statements” and, together with the Audited Financial Statements, the “Financial Statements”), in each case, with respect to Fund E. Since June 30, 2015, there has been no material change in the Financial Statements.

 

(b)                                 The Audited Financial Statements have been prepared from the books and records of Fund E in accordance with U.S. generally accepted accounting principles applied on a consistent basis throughout the periods covered thereby.

 

3.8                               LD 11 Organizational Documents.  Attached hereto as Exhibit B is the Amended and Restated Limited Liability Company Agreement of LD 11 which agreement is in full force and effect and is the only agreement in effect with respect to the matters described therein.

 

3.9                               No Subsidiaries; No Employees.  LD 11 does not own, or have any interest in any shares or have an ownership interest in any other Person.  LD 11 does not have and has not ever had, any employees.

 

3.10                        Compliance.  Fund E’s ownership of the Membership Interest and LD 11’s ownership and operation of the Assets is and has been in compliance in all material respects with all applicable federal, state and local laws, rules, regulations and orders; and neither Fund E, LD 11 nor any of their Affiliates has received notice from any Governmental Authority asserting any act of non-compliance.

 

3.11                        Information.

 

(a)                                 Fund E has not intentionally withheld disclosure from the Conflicts Committee or its advisers of any fact that would have a material adverse effect upon the Partnership, LD 11 or the Assets (or the value thereof).

 

(b)                                 The projections and budgets provided to the Conflicts Committee (including those provided to Duff & Phelps Corporation, the financial adviser to the Conflicts Committee) as part of the Conflicts Committee’s review in connection with this Agreement have a reasonable basis and are consistent with the current expectations of Fund E and its managing member.

 

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(c)                                  All historical financial information related to the Assets provided to the Conflicts Committee (including provided to Duff & Phelps Corporation, the financial adviser to the Conflicts Committee) as part of the Conflicts Committee’s review in connection with this Agreement is consistent with and derived from Fund E’s books and records.

 

3.12                        Litigation.  There is no suit, action, claim, arbitration, administrative or legal or other proceeding (including eminent domain, zoning or other land use regulation) or governmental investigation (“Action”) pending or, to Fund E’s knowledge, threatened against Fund E, its Affiliates, LD 11, or the Assets that affect the ownership of the Assets or that would prevent the consummation of the transactions contemplated by this Agreement.

 

3.13                        Brokers.  Neither Fund E nor any of its Affiliates has incurred any liability, contingent or otherwise, for any brokerage fee, commission or financial advisory fee in connection with the transactions contemplated by this Agreement for which LD 11, the Partnership or any of its respective Affiliates will be liable.

 

3.14                        No Adverse Changes.  From August 3, 2015 to the date of this Agreement, except for changes in the Ordinary Course of Business or due to matters that generally affect the economy or the industry in which Fund E or LD 11 are engaged, there have been no changes in the Assets that would, individually or in the aggregate, have, or reasonably be expected to have, a material adverse effect on the Assets.

 

3.15                        Taxes.

 

(a)                                 All Tax Returns that are required to be filed by or with respect to LD 11 or the Assets prior to the Closing Date (taking into account any valid extension of time within which to file) have been or will be timely filed prior to the Closing Date and all such Tax Returns are or will be true, correct and complete in all material respects. All Taxes due and payable by or with respect to LD 11 or the Assets (whether or not shown on any Tax Return) have been fully paid and all deficiencies asserted or assessments made with respect to such Tax Returns have been paid in full or properly accrued for by LD 11.  No examination, audit, claim, assessment, levy or administrative or judicial proceeding regarding any of the Tax Returns described in this Section 3.15 or any Taxes of or with respect to LD 11 or the Assets are currently pending or have been proposed in writing or have been threatened.  No waivers or extensions of statutes of limitations have been given or requested in writing with respect to any amount of Taxes of or with respect to LD 11 or the Assets or any Tax Returns of or with respect to LD 11 or the Assets.  LD 11 is properly classified as an entity disregarded as separate from its owner for U.S. federal income tax purposes.

 

(b)                                 At least 90% of the gross income generated from the Assets and LD 11, excluding those Assets assigned to Landmark Infrastructure Asset OpCo LLC on or after Closing, is “qualifying income” (as defined in Section 7704(d) of the Code).

 

3.16                        Environmental.

 

(a)                                 Except as set forth on Schedule 3.16, LD 11 is and has been in compliance with all applicable Environmental Laws.

 

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(b)                                 Except as set forth on Schedule 3.16, LD 11 has obtained, has complied with, and is in compliance with all material Environmental Permits that are required pursuant to Environmental Laws for the occupation of its Assets and the operation of the business, and all such Environmental Permits are in full force and effect, free from material breach.

 

(c)                                  Except as set forth on Schedule 3.16, there are no suits, claims or proceedings pending or, to Fund E’s knowledge, threatened against LD 11 or the Assets alleging any violation of, or liability under, any Environmental Law, Environmental Permit or any indemnity obligations for which the Partnership or any of its Affiliates will be responsible or liable after Closing.

 

(d)                                 Except as set forth on Schedule 3.16, LD 11 is not, and none of the Assets are, subject to any decree, order or judgment requiring the investigation or cleanup of any Hazardous Substance under any Environmental Law or Environmental Permit at any real property or facility currently or formerly owned by LD 11 (or in which LD 11 owns or owned an interest), or included in the Assets.

 

(e)                                  Except as set forth on Schedule 3.16, to Fund E’s and LD 11’s knowledge, there is not now, and there has not been, any Hazardous Substance (i) used, generated, treated, stored, transported, disposed of, released, or handled on any owned, leased or easement property owned (now or at any time) by LD 11 or included in the Assets except in full compliance with Environmental Law and Environmental Permits or (ii) otherwise existing on, under, about or emanating from or to any property included in the Assets except in full compliance with Environmental Law and Environmental Permits.

 

(f)                                   The transactions contemplated hereby will not result in any material liabilities for site investigation or cleanup, or require the consent of any Person, pursuant to the New Jersey Industrial Site Recovery Act.

 

(g)                                  Except as set forth on Schedule 3.16, neither LD 11 nor Fund E has, either expressly or by operation of law, assumed or undertaken any material liability, including any obligation for corrective or remedial action, of any other Person relating to Environmental Laws.

 

3.17                        Matters Regarding LD 11.

 

(a)                                 LD 11 is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware and is qualified to conduct business in each jurisdiction where the nature of its business or the ownership of its properties require it to be qualified, except where the failure to be so qualified would not have a material adverse effect on LD 11 or its assets.

 

(b)                                 LD 11 has no obligations or liabilities that would have been required to be reflected in, reserved against or otherwise described on the Audited Financial Statements, other than those incurred in the Ordinary Course of Business in connection with the ownership and operation of the Assets.

 

(c)                                  LD 11 has, and is in compliance with, all applicable permits, certificates, licenses, franchises, writs, variances, exemptions, orders and other authorizations of all Governmental Authorities required for its ownership and operation of the Assets.

 

3.18                        Restricted Securities.

 

(a)                                 Fund E (i) is an “accredited investor” (“Accredited Investor”) as defined in Rule 501 under the Securities Act of 1933, as amended (the “Securities Act”), and (ii) by reason of its business

 

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and financial experience it has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Units, is able to bear the economic risk of such investment and, at the present time, would be able to afford a complete loss of such investment.  Fund E is not an entity formed for the specific purpose of acquiring the Units.

 

(b)                                 Fund E understands that the Units are characterized as “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Partnership in a transaction not involving a public offering and that under such laws and applicable regulations the Units may be resold without registration under the Securities Act only in certain limited circumstances. Fund E acknowledges and agrees that the Units will, when issued and if evidenced by a certificate, include a restrictive legend.

 

3.19                        Indebtedness.  Except for indebtedness under the Fund E Facility, LD 11 does not have, and is not a guarantor with respect to, any other Indebtedness.

 

ARTICLE 4
 REPRESENTATIONS AND WARRANTIES OF THE PARTNERSHIP

 

The Partnership represents and warrants as of the date hereof and as of the Closing Date as follows:

 

4.1                               Organization of the Partnership.  The Partnership is a limited partnership duly organized, validly existing and in good standing under the laws of the State of Delaware and is qualified to do business in each jurisdiction where the nature of its business or the ownership of its properties requires it to be qualified, except where a failure to be so qualified would not have a material adverse effect.

 

4.2                               Authority and Action.  The Partnership has the limited partnership power and authority to enter into this Agreement and to perform all of its obligations and consummate the transactions contemplated hereby.  The Partnership has taken or will take all necessary and appropriate limited partnership action to authorize, execute and deliver this Agreement and to consummate the transactions contemplated hereby.  This Agreement is, and each agreement and instrument to be delivered by the Partnership pursuant hereto will be, when so executed and delivered, a valid and binding obligation of the Partnership, enforceable in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, moratorium or similar laws affecting the rights of creditors generally and by general principles of equity.

 

4.3                               No Violation; Consents.  The execution and delivery of this Agreement (or any related instrument) by the Partnership does not, and the consummation of the transaction contemplated hereby and the performance by the Partnership of the obligations that it is obligated to perform hereunder do not and at the Closing will not: (a) violate any provision of the limited partnership agreement of the Partnership; (b) violate, or result in the violation of or acceleration of, or entitle any party to accelerate any obligation or indebtedness under, or result in the imposition of any Lien upon any Asset, if any, pursuant to, any mortgage, lien, lease, franchise, license, permit, agreement or other instrument to which the Partnership is a party, or by which the Partnership is bound, and that could have a material adverse effect upon this transaction or the Parties; or (c) contravene or violate any municipal, state or federal ordinance, law, rule, regulation, judgment, order, writ, injunction, or decree in any material respect.  No consent, approval, waiver or authorization is required to be obtained by the Partnership from any Person in connection with the execution, delivery and performance by the Partnership of this Agreement and the consummation of the transactions contemplated hereby.

 

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4.4                               Litigation.  There is no Action pending or, to the Partnership’s knowledge, threatened against the Partnership that would prevent the consummation of the transactions contemplated by this Agreement or the ownership of the Membership Interest by the Partnership following the Closing.

 

4.5                               Brokers.  Except for Duff & Phelps Corporation, the fees and expenses of which will be paid by the Partnership or its Affiliates, neither the Partnership nor any of its Affiliates has incurred any liability, contingent or otherwise, for any brokerage fee, commission or financial advisory fee in connection with the transactions contemplated by this Agreement for which Fund E or any of its Affiliates will be liable.

 

4.6                               Units.  The Units have been duly authorized by all necessary limited partner action of the Partnership and, when issued to Fund E in accordance with the terms of this Agreement, will be validly issued, fully paid and nonassessable, except as such nonassessability may be affected by Section 17-607 of the Delaware Revised Uniform Limited Partnership Act.  When issued to Fund E, the Units will be free and clear of all Liens, except as set forth in the First Amended and Restated Limited Partnership Agreement of the Partnership.

 

4.7                               Restricted Security.

 

(a)                                 The Partnership (i) is an Accredited Investor, (ii) by reason of its business and financial experience it has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Membership Interest, is able to bear the economic risk of such investment and, at the present time, would be able to afford a complete loss of such investment, and (iii) is acquiring the Membership Interest only for its own account and not for the account of others, and not on behalf of any other account or Person or with a view to, or for offer or sale in connection with, any distribution thereof.  The Partnership is not an entity formed for the specific purpose of acquiring the Membership Interest.

 

(b)                                 The Partnership understands that the Membership Interest is characterized as a “restricted security” under the federal securities laws inasmuch as it is being acquired from Fund E in a transaction not involving a public offering and that under such laws and applicable regulations the Membership Interest may be resold without registration under the Securities Act only in certain limited circumstances.

 

ARTICLE 5
 DISCLAIMER OF WARRANTIES

 

5.1                               Disclaimer of Warranties by Fund E.  Except as expressly set forth in Article 3, Fund E makes no representations or warranties whatsoever and disclaims all liability and responsibility for any other representation, warranty, statement or information made or communicated (orally or in writing), including any opinion, information or advice that may have been provided by any officer, member, director, employee, agent or consultant of Fund E or its Affiliates.  EXCEPT AS SPECIFICALLY REPRESENTED AND WARRANTED IN ARTICLE 3, THE SALE OF THE MEMBERSHIP INTEREST (INCLUDING THE ASSETS) TO THE PARTNERSHIP IS ON AN “AS IS” BASIS, WITHOUT ANY OTHER REPRESENTATIONS OR WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR OF FITNESS FOR A PARTICULAR PURPOSE.

 

5.2                               Disclaimer of Warranties by the Partnership.  Except as expressly set forth in Article 4, the Partnership makes no representations or warranties whatsoever and disclaims all liability and responsibility for any other representation, warranty, statement or information made or communicated (orally or in writing), including any opinion, information or advice that may have been provided by any officer, shareholder, director, employee, agent or consultant of the Partnership or its Affiliates.

 

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ARTICLE 6
 PRE-CLOSING COVENANTS

 

Approvals and Consents.  From the date of this Agreement until the earlier of the Closing Date or the termination of this Agreement, each Party will use all commercially reasonable efforts to take all action and to do all things necessary, proper, or advisable in order to consummate and make effective the transactions contemplated by this Agreement, including giving any notices to, making any filings with, and obtaining any required authorizations, consents and approvals of Governmental Authorities or other third parties.

 

ARTICLE 7
 POST-CLOSING COVENANTS

 

7.1                               General.  In case at any time after the Closing any further action is necessary to carry out the purposes of this Agreement, each of the Parties will take such further action (including the execution and delivery of such further instruments and documents) as the other Party reasonably may request, all at the sole cost and expense of the requesting Party (unless the requesting Party is entitled to indemnification therefor).

 

7.2                               Title Policy.  Fund E shall exercise commercially reasonable efforts to deliver to the Partnership a 2006 ALTA standard owner’s policy of title insurance (or the equivalent if such form is not available with respect to any particular jurisdiction) from Fidelity National Title Insurance Company (or another nationally recognized insurance company) for each Real Property Interest in an Asset that insures LD 11’s interest in and thereto, subject, in each case, to the pre-printed exceptions to such policy and the Permitted Liens.

 

7.3                               Unit Consideration.  If Fund E is unable to confirm that one or more of its members is an Accredited Investor (either by a failure of such member to return a fully-completed and executed investor questionnaire, failure by such member to meet the requirements of an Accredited Investor set forth in Rule 501 of the Securities Act or otherwise), then Fund E agrees that it (i) shall only distribute to such member its pro rata portion of the Cash Consideration and (ii) shall not distribute, transfer or assign any Unit to any such member.

 

ARTICLE 8
 TAX MATTERS

 

8.1                               Taxes and Tax Returns.

 

(a)                                 Fund E and the Partnership agree that the income related to the Assets for the period prior to the Closing Date will be reflected on the federal income Tax Return of Fund E and that the partners of Fund E shall bear the liability for any federal income Taxes associated with such income.  Fund E and the Partnership further agree that the income related to the Assets for the period on and after the Closing Date will be reflected on the federal income Tax Return of the Partnership and that the partners of the Partnership shall bear the liability for any federal income Taxes associated with such income.

 

(b)                                 Fund E and the Partnership agree to furnish or cause to be furnished to the other, upon request, as promptly as practicable, such information and assistance relating to the Assets (as

 

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available or within Fund E’s or the Partnership’s control, as applicable), including access to books and records, as is reasonably necessary for the filing of all Tax Returns by Fund E, LD 11 or the Partnership, as applicable, the making of any election relating to Taxes, the preparation for any audit by any taxing authority and the prosecution or defense of any claim, suit or proceeding relating to any Tax.  Each of Fund E and the Partnership shall retain, or cause to be retained, all books and records with respect to Taxes pertaining to LD 11 or the Assets for a period of at least seven years following the Closing Date.  Fund E and the Partnership shall cooperate fully with each other in the conduct of any audit, litigation or other proceeding relating to Taxes involving LD 11, the Assets or the Allocation.

 

8.2                               Audits.  Fund E shall promptly notify the Partnership in writing upon receipt by Fund E of notice of any pending or threatened Tax audits or assessments relating to the income, properties or operations of LD 11 that reasonably may be expected to relate to or give rise to a Lien on the Assets.  Each of the Partnership and Fund E shall promptly notify the other in writing upon receipt of notice of any pending or threatened Tax audit or assessment challenging the Allocation.

 

8.3                               Tax Treatment of Indemnification Payments.  Any payments made to any Party pursuant to Article 9 shall constitute an adjustment of the consideration received pursuant to Section 2.2 for Tax purposes and shall be treated as such by Fund E and the Partnership on their Tax Returns to the extent permitted by law.

 

ARTICLE 9
 INDEMNIFICATION

 

9.1                               Indemnification by Fund E and the Sponsor.  Subject to Section 9.3, from and after the Closing Date, Fund E and the Sponsor, jointly and severally, will indemnify, defend and hold harmless the Partnership, the Partnership’s Affiliates and each of their respective partners, directors, members, officers, employees, and representatives (the “Partnership Indemnitees”), from and against any losses, liabilities, Liens, costs, damages, deficiencies, diminution in value, judgments, demands, suits, assessments, charges, fines, penalties, or expenses (including reasonable attorneys’ fees and other costs of litigation) (“Loss”) actually suffered or incurred by any of them resulting from, related to, or arising out of:

 

(a)                                 the breach of any representation, warranty or covenant of Fund E contained in this Agreement, including any Exhibit to this Agreement, or in any document, instrument, agreement or certificate delivered under this Agreement, in each case, without giving effect to any limitation or qualification as to “materiality,” “material,” “material adverse effect” or similar qualifiers set forth in such representation, warranty or covenant for purposes of determining whether there is a breach and the Loss resulting from, related to, or arising out of such breach;

 

(b)                                 any claim for Taxes relating to LD 11 or any Asset for any period prior to the Closing Date (except to the extent LD 11 has properly accrued for such Taxes or the Partnership has otherwise received a proration credit or adjustment hereunder);

 

(c)                                  the Retained Liabilities;

 

(d)                                 any liabilities or obligations of LD 11 or with respect to the assets arising from the failure to obtain the required items set forth on Schedule 3.3;

 

(e)                                  the Environmental Liabilities; and

 

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(f)                                   any other liabilities or obligations of LD 11 or with respect to the Assets first arising prior to the Closing Date, excluding the Retained Liabilities and the Environmental Liabilities.

 

9.2                               Indemnification by the Partnership.  Subject to Section 9.3, from and after the Closing, the Partnership will indemnify, defend and hold harmless Fund E, Fund E’s Affiliates, including the Sponsor, and their respective directors, members, officers, employees and representatives (the “Fund E Indemnitees”), from and against any Losses actually suffered or incurred by any of them resulting from, related to, or arising out of:

 

(a)                                 the breach of any representation, warranty or covenant of the Partnership contained in this Agreement, including any Exhibit to this Agreement, or in any document, instrument, agreement or certificate delivered under this Agreement, in each case, without giving effect to any limitation or qualification as to “materiality,” “material,” “material adverse effect” or similar qualifiers set forth in such representation, warranty or covenant for purposes of determining whether there is a breach and the Loss resulting from, related to, or arising out of such breach;

 

(b)                                 any claim for Taxes relating to LD 11 or any Asset for any period from and after the Closing Date or for which the Partnership has otherwise received a proration credit or adjustment hereunder for any period prior to the Closing Date; or

 

(c)                                  any liabilities or obligations of LD 11 or with respect to the Assets arising after the Closing Date, except for those contemplated by Section 9.1(c), Section 9.1(d) or Section 9.1(e).

 

9.3                               Limitations on Indemnities.

 

(a)                                 Subject to the limitations and other provisions of this Agreement, the representations and warranties of the Parties hereto contained in this Agreement, other than those contained in Sections 3.15, and the covenants and agreements of the Parties hereto contained herein required to be fully performed on or before the Closing, other than those contained in Article 8, shall survive the Closing and shall remain in full force and effect for a period of one year from the Closing Date.  Each covenant and agreement of the Parties in this Agreement which by its terms requires performance after the Closing Date, other than those contained in Article 8, shall survive the Closing and shall remain in full force and effect until such covenant or agreement is fully performed. The representations and warranties contained in Section 3.15, and the covenants and agreements contained in Article 8 shall survive until the expiration of sixty (60) days after the end of the applicable statute of limitations period.

 

(b)                                 To the extent the Partnership Indemnitees are entitled to indemnification for Losses pursuant to Section 9.1, (i) Fund E and the Sponsor shall not be liable for any Losses until the aggregate amount of all Losses exceeds $665,000 in which event Fund E and the Sponsor shall only be required to pay or be liable for Losses in excess of such amount, and (ii) Fund E’s and the Sponsor’s aggregate liability to the Partnership Indemnitees shall not exceed $3,325,000; provided, however, that such limitations shall not apply to (x) breaches of the representations and warranties contained in Sections 3.1, 3.2, 3.13, 3.15, 3.17(a), (y) breaches of the covenants and agreements contained in Sections 7.2, 13.4 and 13.5 and Article 8 or (z) the indemnification obligations set forth in Sections 9.1(c), 9.1(d) and 9.1(f); provided further that the limitation in clause (i) above shall not apply to Losses pursuant to Section 9.1(e).

 

(c)                                  NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, NO PARTY HERETO SHALL BE ENTITLED TO RECOVER FROM ANY OTHER PARTY HERETO ANY AMOUNT IN RESPECT OF EXEMPLARY, PUNITIVE, REMOTE OR SPECULATIVE DAMAGES, EXCEPT, IN EACH CASE, TO THE EXTENT SUCH DAMAGES ARE PAID TO AN UNAFFILIATED THIRD PARTY.  ALL RELEASES, DISCLAIMERS, LIMITATIONS ON LIABILITY AND INDEMNITIES IN THIS AGREEMENT, INCLUDING THOSE IN THIS ARTICLE 9, SHALL APPLY EVEN IN THE EVENT OF THE SOLE, JOINT, OR CONCURRENT, ACTIVE OR PASSIVE NEGLIGENCE, STRICT LIABILITY OR FAULT OF THE PARTY WHOSE LIABILITY IS RELEASED, DISCLAIMED, LIMITED OR INDEMNIFIED (EXCLUDING GROSS NEGLIGENCE OR WILLFUL MISCONDUCT).

 

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9.4                               Indemnification Procedures.  A Fund E Indemnitee or Partnership Indemnitee, as the case may be (for purposes of this Section 9.4, an “Indemnified Party”), shall give the indemnifying party under Section 9.1 or Section 9.2, as applicable (for purposes of this Section 9.4, an “Indemnifying Party”), prompt written notice of any matter which it has determined has given or could give rise to a right of indemnification under this Agreement, stating the amount of the Loss, if known, and method of computation thereof, containing a reference to the provisions of this Agreement in respect of which such right of indemnification is claimed or arises; provided, however, that the failure to provide such notice shall not release the Indemnifying Party from its obligations under this Article 9 except to the extent the Indemnifying Party is prejudiced by such failure.  In connection with any claim giving rise to indemnity hereunder resulting from or arising out of any Action by a Person who is not a party to this Agreement, the Indemnifying Party, at its sole cost and expense and upon written notice to the Indemnified Party, may assume the defense of any such Action with counsel reasonably satisfactory to the Indemnified Party. The Indemnified Party shall be entitled to participate in the defense of any such Action, with its counsel and at its own cost and expense. If the Indemnifying Party does not assume the defense of any such Action, the Indemnified Party may, but shall not be obligated to, defend against such Action in such manner as it may deem appropriate, including, but not limited to, settling such Action, after giving notice of it to the Indemnifying Party, on such terms as the Indemnified Party may deem appropriate and no action taken by the Indemnified Party in accordance with such defense and settlement shall relieve the Indemnifying Party of its indemnification obligations herein provided with respect to any damages resulting therefrom. The Indemnifying Party shall not settle any Action without the Indemnified Party’s prior written consent (which consent shall not be unreasonably withheld or delayed).

 

ARTICLE 10
 CONDITIONS PRECEDENT TO FUND E’S OBLIGATIONS

 

Each and every obligation of Fund E under this Agreement shall be subject to the satisfaction, at or prior to the Closing, of the following conditions precedent.

 

10.1                        Representations and Warranties; No Default.  The representations and warranties of the Partnership set forth in Article 4 of this Agreement shall be true and correct in all material respects (it being understood that, for purposes of determining the accuracy of such representations and warranties, all qualifications and other materiality qualifications contained in such representations and warranties shall be disregarded) as of the Closing with the same force and effect and as though made as of the Closing (except those representations and warranties that address matters only as of a specified date, the accuracy of which shall be determined as of that specified date in all respects).

 

10.2                        Covenants.  The Partnership shall have performed in all material respects all its covenants and fulfilled in all material respects all the terms of this Agreement that are required to be performed or fulfilled prior to or as of the Closing.

 

10.3                        Proceedings.  No investigations, inquiry, proceeding or claim has been initiated or received by or asserted or threatened against Fund E by any private party or by any government or governmental agency, relating to the validity, invalidity or legality of this Agreement and its consummation under any state or federal statute, or rules, regulations, order or guidelines promulgated pursuant thereto.

 

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10.4                        Waiver.  Fund E may waive any condition specified in this Article 10 if it executes a writing so stating at or before the Closing.

 

ARTICLE 11
 CONDITIONS PRECEDENT TO THE PARTNERSHIP’S OBLIGATIONS

 

Each and every obligation of the Partnership under this Agreement shall be subject to the satisfaction, at or prior to the Closing, of the following conditions precedent.

 

11.1                        Representations and Warranties.  The representations and warranties of Fund E set forth in Article 3 of this Agreement shall be true and correct in all material respects (it being understood that, for purposes of determining the accuracy of such representations and warranties, all qualifications and other materiality qualifications contained in such representations and warranties shall be disregarded) as of the Closing with the same force and effect and as though made as of the Closing (except those representations and warranties that address matters only as of a specified date, the accuracy of which shall be determined as of that specified date in all respects).

 

11.2                        Covenants.  Fund E shall have performed in all material respects all its covenants and fulfilled in all material respects all the terms of this Agreement that are required to be performed or fulfilled prior to or as of the Closing.

 

11.3                        Proceedings.  No investigations, inquiry, proceeding or claim has been initiated or received by or asserted or threatened against the Partnership by any private party or by any government or governmental agency, relating to the validity, invalidity or legality of this Agreement and its consummation under any state or federal statute, or rules, regulations, order or guidelines promulgated pursuant thereto.

 

11.4                        Waiver.  The Partnership may waive any condition specified in this Article 11 if it executes a writing so stating at or before the Closing.

 

ARTICLE 12
 TERMINATION

 

12.1                        Termination of Agreement.  This Agreement may be terminated at any time prior to the Closing Date as follows:

 

(a)                                 By mutual written consent of the Partnership and Fund E.

 

(b)                                 By the Partnership or Fund E if any Governmental Authority of competent jurisdiction shall have (i) enacted, issued or promulgated any law that is in effect and has the effect of making the consummation of the transactions contemplated by this Agreement illegal or of prohibiting or otherwise preventing the consummation of the transactions contemplated by this Agreement or (ii) issued or entered any order (whether temporary, preliminary or permanent) that is in effect and has the effect of making the consummation of the transactions contemplated by this Agreement illegal or of prohibiting or otherwise preventing the consummation of the transactions contemplated by this Agreement; provided, however, the right to terminate this Agreement under Section 12.1(b)(ii) shall not be available to a Party if such order was primarily due to the failure of such Party to perform any of its obligations under this Agreement.

 

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(c)                                  By the Partnership if there has been an event, change, occurrence or circumstance that, individually or in the aggregate with any other events, changes, occurrences or circumstances, has had or could reasonably be expected to have a material adverse effect on the Membership Interest.

 

(d)                                 By the Partnership if the Closing shall not have occurred by September 30, 2015 (the “Outside Date”); provided that such right to terminate this Agreement under this Section 12.1(d) shall not be available to the Partnership if the Partnership has materially breached its obligations under this Agreement in a manner that shall have proximately contributed to the failure of the Closing to occur by such date.

 

(e)                                  By Fund E if the Closing shall not have occurred by the Outside Date; provided that such right to terminate this Agreement under this Section 12.1(e) shall not be available to Fund E if Fund E has materially breached its obligations under this Agreement in a manner that shall have proximately contributed to the failure of the Closing to occur by such date.

 

(f)                                   By the Partnership if at any time the representations and warranties of Fund E contained in this Agreement shall fail to be true and correct or Fund E shall at any time have failed to perform and comply with all agreements and covenants of Fund E contained in this Agreement requiring performance or compliance prior to such time, and in either case, such failure (i) shall be such that, if not cured, the conditions set forth in Section 11.1 or Section 11.2 would not be fulfilled and (ii) if capable of cure, shall not have been cured within 10 days of Fund E’s receipt of written notice thereof from the Partnership or, if earlier, the Outside Date.

 

(g)                                  By Fund E if at any time the representations and warranties of the Partnership contained in this Agreement shall fail to be true and correct or the Partnership shall at any time have failed to perform and comply with all agreements and covenants of the Partnership contained in this Agreement requiring performance or compliance prior to such time, and in either case, such failure (i) shall be such that, if not cured, the conditions set forth in Section 10.1 or Section 10.2 would not be fulfilled and (ii) if capable of cure, shall not have been cured within 10 days of the receipt of written notice thereof by the Partnership from Fund E or, if earlier, the Outside Date.

 

12.2                        Notice of Termination.  The Partnership may exercise its right to terminate this Agreement by giving written notice of termination from time to time to Fund E specifying the basis for the Partnership’s termination.  Fund E may exercise its right to terminate this Agreement by giving written notice thereof from time to time to the Partnership specifying the basis for Fund E’s termination.

 

12.3                        Effect of Termination.  If this Agreement is terminated pursuant to the provisions of this Article 12, this Agreement shall become void and have no effect, and there shall be no further liability on the part of the Partnership or Fund E to any Person in respect of this Agreement; provided, however, the covenants and agreements contained in Article 14 and in this Section 12.3 shall survive the termination of this Agreement; provided  further, except as otherwise provided in this Agreement, no such termination shall relieve any Party of any liability resulting from any breach of this Agreement prior to the time of such termination.

 

ARTICLE 13
 CLOSING

 

The Closing of this Agreement shall be conducted as follows, with the performance of the Parties to be mutually dependent, and all transfers deemed to have taken place simultaneously.

 

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13.1                        Subject to satisfaction or waiver of the conditions set forth in Article 10 and Article 11, the Closing of the transactions contemplated by this Agreement shall occur on August 18, 2015 or, if all of the conditions set forth in Article 10 and Article 11 are not satisfied or waived by such date, such other date as the Parties may agree (the “Closing Date”).

 

13.2                        At the Closing, Fund E shall deliver to the Partnership:

 

(a)                                 such customary instruments of transfer and conveyance, including the Assignment Agreement, as necessary to vest all right, title and interest of Fund E in and to the Membership Interest to the Partnership;

 

(b)                                 all necessary forms and certificates complying with applicable Law, duly executed and acknowledged, certifying that the transactions contemplated hereby are exempt from withholding under Section 1445 of the Code and any state or local equivalent thereof;

 

(c)                                  copies of documents, including all leases, grants of easements and non-disturbance agreements relating to the Assets, including any amendments, guarantees or other documents relating thereto;

 

(d)                                 a settlement statement mutually approved by the Parties;

 

(e)                                  the executed counterpart to the Credit Facility Amendment Agreement and other ancillary agreements thereto;

 

(f)                                   an executed payoff letter from the administrative agent under the Fund E Facility, evidencing the payoff of all indebtedness under the Fund E Facility, the release of liens, and authorizing the filing of UCC-3 termination statements; and

 

(g)                                  each other document or instrument specified in or as may be reasonably required by this Agreement.

 

13.3                        At Closing, the Partnership shall deliver to Fund E:

 

(a)                                 the Units, in certificated or book-entry form;

 

(b)                                 the Cash Consideration, in immediately available funds to an account or accounts designated by Fund E;

 

(c)                                  the executed counterpart to the Credit Facility Amendment Agreement and other ancillary agreements thereto;

 

(d)                                 the executed counterpart to the Assignment Agreement, necessary to vest all right, title and interest of Fund E in and to the Membership Interest to the Partnership,

 

(e)                                  the Assignment Agreement necessary to vest all right, title and interest of the Partnership in and to the Membership Interest to OpCo, and such other customary instruments of transfer and conveyance, including the Assignment and Assumption Agreement between LD 11 and Landmark Infrastructure Asset OpCo LLC, necessary to vest all right, title and interest of LD 11 in and to certain of the Assets to Landmark Infrastructure Asset OpCo LLC;

 

(f)                                   a settlement statement mutually approved by the Parties; and

 

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(g)                                  each other document or instrument specified in or as may be reasonably required by this Agreement.

 

13.4                        Credits and Prorations.

 

(a)                                 General Matters.  All income and expenses relating to the Assets shall be apportioned as of 12:01 a.m., Los Angeles time, on the day of Closing, Fund E being charged and credited for the same prior to such date and time, and the Partnership being charged and credited for the same on and after such date and time.  Such prorated items include the following:

 

(i)                                     all rents and other accounts receivables payable with respect to the Assets (“Rents and A/R”) received by the Closing, if any;

 

(ii)                                  all Property Taxes for which LD 11 has not properly accrued; and

 

(iii)                               utility charges for which LD 11 is liable, if any, such charges to be apportioned at Closing on the basis of the most recent meter reading occurring prior to Closing or, if unmetered, on the basis of a current bill for each such utility.

 

(b)                                 Specific Matters.  Notwithstanding anything contained in this Section 13.4:

 

(i)                                     Any Property Taxes paid at or prior to Closing shall be prorated based upon the amounts actually paid.  If any Property Taxes due and payable during the year of Closing have not been paid before Closing or properly accrued for by LD 11, Fund E shall be charged at Closing an amount equal to that portion of such Property Taxes which relates to the period before Closing, and LD 11 shall pay, or cause to be paid,  such Property Taxes prior to their becoming delinquent.  Any such apportionment made with respect to a Property Tax year for which the Property Tax rate or assessed valuation, or both, have not yet been fixed shall be based upon the Property Tax rate or assessed valuation fixed.  To the extent that the actual Property Taxes for the current year differ from the amount apportioned at Closing, the Parties shall make all necessary adjustments by appropriate payments between themselves within thirty 30 days after such amounts are determined following Closing, subject to the provisions of Section 13.4(c) below.  The Partnership shall pay all supplemental Property Tax resulting from the change in ownership and reassessment, if any, occurring as the result of the Closing pursuant to this Agreement;

 

(ii)                                  Charges referred to in clause (i) above that are payable by any third party (as opposed to Fund E, the Partnership or LD 11) shall not be apportioned hereunder, and the Partnership and LD 11 shall look solely to the third party responsible therefor for the payment of such charges.  If Fund E shall have paid any of such charges on behalf of any third party to which it is entitled to reimbursement, and shall not have been reimbursed therefor by the time of Closing, the Partnership shall credit to Fund E an amount equal to all such charges so paid by Fund E;

 

(iii)                               Unpaid and delinquent Rents and A/R collected by Fund E or the Partnership, as the case may be, after the date of Closing shall be delivered as follows: (1) if Fund E collects any unpaid or delinquent Rents and A/R for the Assets, Fund E shall, within 15 days after the receipt thereof, deliver to the Partnership any such Rents and A/R which the Partnership is entitled to hereunder relating to the date of Closing and any period thereafter, and (2) if the Partnership or LD 11 collects any unpaid or delinquent Rents and A/R, the Partnership shall, within 15 days after the receipt thereof, deliver to Fund E any such Rents and A/R which Fund E

 

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is entitled to hereunder relating to the period prior to the date of Closing.  The Parties agree that (i) all Rents and A/R received by either Party (or LD 11) within the first 30 day period after the date of Closing shall be applied first to delinquent Rents and A/R, if any, in the order of their maturity, and then to current Rents and A/R, and (ii) all Rents and A/R received by either Party (or LD 11) after the first 30 day period after the date of Closing shall be applied first to current Rents and A/R and then to delinquent Rents and A/R, if any, in the inverse order of maturity.  The Partnership will use commercially reasonable efforts after Closing to collect all Rents and A/R in the Ordinary Course of Business, but neither the Partnership nor LD 11 will be obligated to institute any lawsuit or other collection procedures to collect delinquent Rents and A/R.  If there shall be any Rents and A/R which, although relating to a period prior to Closing, do not become due and payable until after Closing or are paid prior to Closing but are subject to adjustment after, then any Rents and A/R of such type received by either Party (or LD 11) shall, to the extent applicable to a period extending through the Closing, be prorated between Fund E and the Partnership as of Closing and Fund E’s portion thereof shall be remitted promptly to Fund E by the Partnership together with a reasonably detailed accounting from the Partnership.

 

(c)                                  Final Adjustments.  Except as otherwise provided herein, any revenue or expense amount which cannot be ascertained with certainty as of Closing shall be prorated on the basis of the Parties’ reasonable estimates of such amount and current receipts, and shall be the subject of a final proration 60 days after Closing, or as soon thereafter as the precise amounts can be ascertained.  The Partnership shall promptly notify Fund E when it becomes aware that any such estimated amount has been ascertained.  Once all revenue and expense amounts have been ascertained, the Parties shall jointly and in good faith prepare a final proration statement, which final proration statement when agreed upon by the Parties, shall be conclusively deemed to be accurate and final.

 

(d)                                 Survival.  The provisions of this Section 13.4 shall survive Closing.

 

13.5                        Closing Costs.  The following costs of Closing shall be allocated between Fund E and the Partnership as follows:

 

(a)                                 All fees associated with reissuance of title policies delivered to the Partnership pursuant to Section 7.2 shall be paid by the Partnership;

 

(b)                                 All other title fees and premiums, all recordation fees, and all transfer, stamp, excise or similar taxes imposed by the state, county or city in connection with the transaction shall be divided equally and paid by Fund E and the Partnership at Closing;

 

(c)                                  All sales or similar Taxes shall be paid by the Partnership; and

 

(d)                                 Each party shall bear its own counsel’s fees and expenses in connection with the transactions described in this Agreement.

 

The provisions of this Section 13.5 shall survive the Closing.

 

ARTICLE 14
 MISCELLANEOUS

 

14.1                        Assigns.  This Agreement shall be binding upon and shall inure to the benefit of the respective Parties and their permitted successors and assigns.  The Partnership’s rights under this Agreement may not be assigned other than to a wholly-owned subsidiary of the Partnership, without the

 

21

 

prior written consent of Fund E, which consent may be withheld for any reason, and Fund E’s rights under this Agreement may not be assigned, without the prior written consent of the Partnership, which consent may be withheld for any reason.  Any purported assignment in violation of the foregoing shall be void ab initio.

 

14.2                        Entire Understanding, Headings and Amendment.  This entire Agreement and the attached Exhibits and all documents to be executed and delivered pursuant hereto constitute the entire understanding between the Parties, and supersede all previous agreements of any sort.  Article headings are included only for purposes of convenience and shall not be construed as a part of this Agreement or in any way affecting the meaning of the provisions of this Agreement or its interpretation.  This Agreement may not be amended or modified orally and no amendment or modification shall be valid unless in writing and signed by the Parties.

 

14.3                        Rights of Third Parties.  This Agreement shall not be construed to create any Lien on the Assets or to create any express or implied rights in any persons other than the Parties, except as provided for the indemnification of the Partnership Indemnitees and the Fund E Indemnitees in Article 9.

 

14.4                        Notices.  All notices shall be in writing and shall be delivered or sent by first-class mail, postage prepaid, overnight courier or by means of electronic transmission.  Any notice sent shall be addressed as follows:

 

(a)                                 If to Fund E or the Sponsor:

 

Landmark Dividend LLC
 2141 Rosecrans Avenue, Suite 2100
 El Segundo, CA 90245
 Attn:  Chief Financial Officer

 

(b)                                 If to the Partnership:

 

Landmark Infrastructure Partners GP LLC
 2141 Rosecrans Avenue, Suite 2100
 El Segundo, CA 90245
 Attn:  Chief Executive Officer

 

Any notice required hereunder shall be effective when sent if given in the manner set forth above.

 

14.5                        Choice of Law; Mediation; Submission to Jurisdiction.

 

(a)                                 This Agreement shall be subject to and governed by the laws of the State of Delaware, excluding any conflicts-of-law rule or principle that might refer the construction or interpretation of this Agreement to the laws of another state.  EACH OF THE PARTIES AGREES THAT THIS AGREEMENT INVOLVES AT LEAST U.S. $100,000.00 AND THAT THIS AGREEMENT HAS BEEN ENTERED INTO IN EXPRESS RELIANCE UPON 6 Del. C. § 2708.  EACH OF THE PARTIES IRREVOCABLY AND UNCONDITIONALLY AGREES (i) TO BE SUBJECT TO THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE AND OF THE FEDERAL COURTS SITTING IN THE STATE OF DELAWARE, AND (ii) TO THE EXTENT SUCH PARTY IS NOT OTHERWISE SUBJECT TO SERVICE OF PROCESS IN THE STATE OF DELAWARE, TO APPOINT AND MAINTAIN AN AGENT IN THE STATE OF DELAWARE AS SUCH PARTY’S AGENT FOR ACCEPTANCE OF LEGAL PROCESS AND TO NOTIFY THE OTHER PARTY OF THE NAME AND ADDRESS OF SUCH AGENT.

 

22

 

(b)                                 Each Party agrees that it shall bring any action or proceeding in respect of any claim arising out of or related to this Agreement, whether in tort or contract or at law or in equity, exclusively in any federal or state courts located in Delaware and (i) waives any objection to laying venue in any such action or proceeding in such courts, (ii) waives any objection that such courts are an inconvenient forum or do not have jurisdiction over it and (iii) agrees that, to the fullest extent permitted by law, service of process upon it may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to it at its address specified in Section 14.4.  The foregoing consents to jurisdiction and service of process shall not constitute general consents to service of process in the State of Delaware for any purpose except as provided herein and shall not be deemed to confer rights on any Person other than the Parties.

 

14.6                        Time of the Essence.  Time is of the essence in the performance of this Agreement in all respects.  If the date specified herein for giving any notice or taking any action is not a business day (or if the period during which any notice is required to be given or any action taken expires on a date which is not a business day), then the date for giving such notice or taking such action (and the expiration date of such period during which notice is required to be given or action taken) shall be the next day which is a business day.

 

14.7                        Waiver and Severability.

 

(a)                                 No waiver, either express or implied, by any Party hereto of any term or condition of this Agreement or right to enforcement thereof shall be effective, unless such waiver is in writing and signed by both Parties.  Any such waiver shall constitute a waiver only with respect to the specific matter described in such writing and shall in no way adversely affect the rights of the Party granting such waiver in any other respect or at any other time.  The failure of any Party to exercise any rights or privileges under this Agreement shall not be construed as a waiver of any such rights or privileges under this Agreement.  The rights and remedies provided in this Agreement are cumulative and, except as otherwise expressly provided in this Agreement, none is exclusive of any other or of any rights or remedies that any Party may hereunder or otherwise have at law or in equity.

 

(b)                                 Whenever possible, each provision or portion of any provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or portion of any provision in such jurisdiction, and this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had never been contained herein.

 

14.8                        Costs and Expenses.  Except as otherwise specifically provided in this Agreement, each Party will bear its own costs and expenses in connection with this Agreement and the transactions contemplated hereby.

 

14.9                        Counterpart Execution.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one agreement.

 

[Signature page follows.]

 

23

 

IN WITNESS WHEREOF, each of the Parties has executed this Agreement as of the Effective Date.

 

	
 
    	
Landmark   Dividend Growth Fund - E LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: Landmark Dividend   Management 2 LLC, its managing member
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ George Doyle
    
	
 
    	
Name:
    	
George Doyle
    
	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Landmark Infrastructure   Partners LP
    
	
 
    	
 
    
	
 
    	
By: Landmark Infrastructure Partners GP   LLC, its general partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Daniel E. Rebeor
    
	
 
    	
Name:
    	
Daniel E. Rebeor
    
	
 
    	
Title:
    	
Senior Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Solely with respect to   Article 9:
    
	
 
    	
Landmark   Dividend LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ George Doyle
    
	
 
    	
Name:
    	
George Doyle
    
	
 
    	
Title:
    	
Chief Financial Officer
    

 

Signature Page to Membership Interest Contribution AgreementEX-4.1

 Exhibit 4.1 

EXECUTION VERSION 

SANDRIDGE ENERGY, INC. 

as Issuer 
 the
Guarantors party hereto 
 and 

U.S. BANK NATIONAL ASSOCIATION 

as Trustee 
  

 
 Indenture

 Dated as of August 19, 2015 
  

 
 8.125%
CONVERTIBLE SENIOR NOTES DUE 2022 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE 1

Definitions
	   
   

			
	 Section 1.01.
	  	Definitions	  	 	1	  
	 Section 1.02.
	  	Rules of Construction	  	 	25	  
	
	 ARTICLE 2

The Notes
	   
   

			
	 Section 2.01.
	  	Form, Dating and Denominations; Legends	  	 	26	  
	 Section 2.02.
	  	Execution and Authentication; Additional Notes	  	 	27	  
	 Section 2.03.
	  	Registrar, Paying Agent, Authenticating Agent and Conversion Agent; Paying Agent to Hold Money in Trust	  	 	28	  
	 Section 2.04.
	  	Replacement Notes	  	 	28	  
	 Section 2.05.
	  	Outstanding Notes	  	 	28	  
	 Section 2.06.
	  	Temporary Notes	  	 	29	  
	 Section 2.07.
	  	Cancellation	  	 	29	  
	 Section 2.08.
	  	CUSIP and ISIN Numbers	  	 	29	  
	 Section 2.09.
	  	Registration, Transfer and Exchange	  	 	29	  
	 Section 2.10.
	  	Restrictions on Transfer and Exchange	  	 	31	  
	
	 ARTICLE 3

REDEMPTION; OFFER TO PURCHASE
	   
   

			
	 Section 3.01.
	  	Optional Redemption	  	 	33	  
	 Section 3.02.
	  	[Reserved]	  	 	33	  
	 Section 3.03.
	  	Method and Effect of Redemption	  	 	33	  
	 Section 3.04.
	  	Offer to Purchase	  	 	34	  
	
	 ARTICLE 4

COVENANTS
	   
   

			
	 Section 4.01.
	  	Payment of Notes	  	 	36	  
	 Section 4.02.
	  	Maintenance of Office or Agency	  	 	36	  
	 Section 4.03.
	  	Existence	  	 	36	  
	 Section 4.04.
	  	Payment of Obligations	  	 	37	  
	 Section 4.05.
	  	Maintenance of Properties and Insurance	  	 	37	  
	 Section 4.06.
	  	Limitation on Indebtedness and Disqualified Stock	  	 	37	  
	 Section 4.07.
	  	Limitation on Restricted Payments	  	 	40	  
	 Section 4.08.
	  	Limitation on Liens	  	 	43	  
	 Section 4.09.
	  	[Reserved]	  	 	43	  
	 Section 4.10.
	  	Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	 	44	  
	 Section 4.11.
	  	[Reserved]	  	 	45	  
	 Section 4.12.
	  	Guarantees by Restricted Subsidiaries	  	 	45	  
	 Section 4.13.
	  	Repurchase of Notes Upon a Change of Control	  	 	45	  
	 Section 4.14.
	  	Limitation on Asset Sales	  	 	46	  
	 Section 4.15.
	  	Limitation on Transactions with Shareholders and Affiliates	  	 	46	  
	 Section 4.16.
	  	Line of Business	  	 	48	  
	 Section 4.17.
	  	[Reserved]	  	 	48	  
	 Section 4.18.
	  	Designation of Restricted and Unrestricted Subsidiaries	  	 	48	  

  
 i 

							
	 	  	 	  	Page	 
	 Section 4.19.
	  	[Reserved]	  	 	49	  
	 Section 4.20.
	  	Financial Reports	  	 	49	  
	 Section 4.21.
	  	Reports to Trustee	  	 	50	  
	 Section 4.22.
	  	Suspension of Covenants when Notes Rated Investment Grade	  	 	50	  
	
	 ARTICLE 5

CONSOLIDATION, MERGER OR SALE OF ASSETS
	   
   

			
	 Section 5.01.
	  	Consolidation, Merger or Sale of Assets by the Company	  	 	51	  
	 Section 5.02.
	  	Consolidation, Merger or Sale of Assets by a Guarantor	  	 	52	  
	
	 ARTICLE 6

DEFAULT AND REMEDIES
	   
   

			
	 Section 6.01.
	  	Events of Default	  	 	53	  
	 Section 6.02.
	  	Acceleration	  	 	54	  
	 Section 6.03.
	  	Other Remedies	  	 	54	  
	 Section 6.04.
	  	Waiver of Past Defaults	  	 	54	  
	 Section 6.05.
	  	Control by Majority	  	 	54	  
	 Section 6.06.
	  	Limitation on Suits	  	 	55	  
	 Section 6.07.
	  	Rights of Holders to Receive Payment and to Convert Notes	  	 	55	  
	 Section 6.08.
	  	Collection Suit by Trustee	  	 	55	  
	 Section 6.09.
	  	Trustee May File Proofs of Claim	  	 	55	  
	 Section 6.10.
	  	Priorities	  	 	56	  
	 Section 6.11.
	  	Restoration of Rights and Remedies	  	 	56	  
	 Section 6.12.
	  	Undertaking for Costs	  	 	56	  
	 Section 6.13.
	  	Rights and Remedies Cumulative	  	 	56	  
	 Section 6.14.
	  	Delay or Omission Not Waiver	  	 	56	  
	 Section 6.15.
	  	Waiver of Stay, Extension or Usury Laws	  	 	56	  
	
	 ARTICLE 7

THE TRUSTEE
	   
   

			
	 Section 7.01.
	  	General	  	 	56	  
	 Section 7.02.
	  	Certain Rights of Trustee	  	 	57	  
	 Section 7.03.
	  	Individual Rights of Trustee	  	 	58	  
	 Section 7.04.
	  	Trustee’s Disclaimer	  	 	58	  
	 Section 7.05.
	  	Notice of Default	  	 	58	  
	 Section 7.06.
	  	Reports by Trustee to Holders	  	 	58	  
	 Section 7.07.
	  	Compensation and Indemnity	  	 	58	  
	 Section 7.08.
	  	Replacement of Trustee	  	 	59	  
	 Section 7.09.
	  	Successor Trustee by Merger	  	 	60	  
	 Section 7.10.
	  	Eligibility	  	 	60	  
	 Section 7.11.
	  	Money Held in Trust	  	 	60	  
	 Section 7.12.
	  	Trustee in Other Capacities	  	 	60	  
	
	 ARTICLE 8

DISCHARGE
	   
   

			
	 Section 8.01.
	  	Discharge of Company’s Obligations	  	 	60	  
	 Section 8.02.
	  	[Reserved]	  	 	61	  
	 Section 8.03.
	  	[Reserved]	  	 	61	  
	 Section 8.04.
	  	Application of Trust Money	  	 	61	  
	 Section 8.05.
	  	Repayment to Company	  	 	61	  
	 Section 8.06.
	  	Reinstatement	  	 	61	  

  
 ii 

							
	 	  	 	  	Page	 
	 ARTICLE 9

AMENDMENTS, SUPPLEMENTS AND WAIVERS
	   
   

			
	 Section 9.01.
	  	Amendments Without Consent of Holders	  	 	61	  
	 Section 9.02.
	  	Amendments With Consent of Holders	  	 	62	  
	 Section 9.03.
	  	Effect of Consent	  	 	63	  
	 Section 9.04.
	  	Trustee’s Rights and Obligations	  	 	63	  
	 Section 9.05.
	  	[Reserved]	  	 	63	  
	 Section 9.06.
	  	Payments for Consents	  	 	63	  
	
	 ARTICLE 10

CONVERSION
	   
   

			
	 Section 10.01.
	  	Conversion	  	 	64	  
	 Section 10.02.
	  	Conversion Procedure and Payment Upon Conversion	  	 	65	  
	 Section 10.03.
	  	Cash in Lieu of Fractional Shares	  	 	67	  
	 Section 10.04.
	  	Taxes on Conversion	  	 	67	  
	 Section 10.05.
	  	Company to Reserve, Provide and List Common Stock	  	 	67	  
	 Section 10.06.
	  	Adjustment of Conversion Rate	  	 	67	  
	 Section 10.07.
	  	No Adjustment	  	 	68	  
	 Section 10.08.
	  	[Reserved]	  	 	68	  
	 Section 10.09.
	  	Adjustments for Tax Purposes	  	 	68	  
	 Section 10.10.
	  	Notice of Adjustment	  	 	68	  
	 Section 10.11.
	  	Notice of Certain Transactions	  	 	68	  
	 Section 10.12.
	  	Effect of Reclassifications, Consolidations, Mergers, Binding Share Exchanges or Sales on Conversion Privilege	  	 	69	  
	 Section 10.13.
	  	Trustee’s Disclaimer	  	 	70	  
	
	 ARTICLE 11

GUARANTEES
	   
   

			
	 Section 11.01.
	  	The Guarantees	  	 	70	  
	 Section 11.02.
	  	Guarantee Unconditional	  	 	70	  
	 Section 11.03.
	  	Discharge; Reinstatement	  	 	71	  
	 Section 11.04.
	  	Waiver by the Guarantors	  	 	71	  
	 Section 11.05.
	  	Subrogation and Contribution	  	 	71	  
	 Section 11.06.
	  	Stay of Acceleration	  	 	71	  
	 Section 11.07.
	  	Limitation on Amount of Guarantee	  	 	71	  
	 Section 11.08.
	  	Delivery of Guarantee	  	 	71	  
	 Section 11.09.
	  	Release of Note Guarantee	  	 	71	  
	
	 ARTICLE 12

MISCELLANEOUS
	   
   

			
	 Section 12.01.
	  	[Reserved]	  	 	72	  
	 Section 12.02.
	  	Noteholder Communications; Noteholder Actions	  	 	72	  
	 Section 12.03.
	  	Notices	  	 	73	  
	 Section 12.04.
	  	Certificate and Opinion as to Conditions Precedent	  	 	73	  
	 Section 12.05.
	  	Statements Required in Certificate or Opinion	  	 	74	  
	 Section 12.06.
	  	Payment Date Other Than a Business Day	  	 	74	  
	 Section 12.07.
	  	Governing Law	  	 	74	  
	 Section 12.08.
	  	No Adverse Interpretation of Other Agreements	  	 	74	  
	 Section 12.09.
	  	Successors	  	 	74	  
	 Section 12.10.
	  	Duplicate Originals	  	 	74	  
	 Section 12.11.
	  	Separability	  	 	74	  
	 Section 12.12.
	  	Table of Contents and Headings	  	 	74	  

  
 iii 

							
	 	  	 	  	Page	 
	 Section 12.13.
	  	No Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders	  	 	74	  
	 Section 12.14.
	  	Set-Off of Withholding Taxes	  	 	74	  
			
	 EXHIBITS
	  		  			
			
	 EXHIBIT A
	  	Form of Note	  			
	 EXHIBIT B
	  	Form of Supplemental Indenture	  			
	 EXHIBIT C-1
	  	Restricted Legend	  			
	 EXHIBIT C-2
	  	Common Stock Restricted Legend	  			
	 EXHIBIT D
	  	DTC Legend	  			
	 EXHIBIT E
	  	Regulation S Certificate	  			
	 EXHIBIT F
	  	Rule 144A Certificate	  			
	 EXHIBIT G
	  	Institutional Accredited Investor Certificate	  			
	 EXHIBIT H
	  	OID Legend	  			

  
 iv 

 THIS INDENTURE, dated as of August 19, 2015, is among SANDRIDGE ENERGY, INC., a Delaware
corporation, as the Company, the Guarantors party hereto and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as Trustee. 

RECITALS 
 The
Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of up to $158,379,000 aggregate principal amount of the Company’s 8.125% Convertible Senior Notes Due 2022, and if and when issued, any
Additional Notes as provided herein (the “Notes”). All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done, and the Company has done all things necessary to make the
Notes (in the case of the Additional Notes, when duly authorized), when executed by the Company and authenticated and delivered by the Trustee and duly issued by the Company, the valid obligations of the Company as hereinafter provided. 

In addition, the Guarantors party hereto have duly authorized the execution and delivery of this Indenture as guarantors of the Notes. All
things necessary to make this Indenture a valid agreement of each Guarantor, in accordance with its terms, have been done, and each Guarantor has done all things necessary to make the Note Guarantees, when the Notes are executed by the Company and
authenticated and delivered by the Trustee and duly issued by the Company, the valid obligations of such Guarantor as hereinafter provided. 

THIS INDENTURE WITNESSETH 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, the parties hereto covenant and agree, for the
equal and proportionate benefit of all Holders, as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01. Definitions. 

“Acquired Debt” means Indebtedness of a Person (1) existing at the time such Person is merged with or into or
becomes a Restricted Subsidiary or (2) assumed in connection with the acquisition of assets from such Person, in each case, other than Indebtedness incurred in connection with, or in contemplation of, such Person becoming a Restricted
Subsidiary or such acquisition, as the case may be. Acquired Debt shall be deemed to be incurred on the date of the related acquisition of assets from any Person or the date the acquired Person becomes a Restricted Subsidiary, as the case may be.

 “Additional Assets” means (i) any assets or property (other than cash, Cash Equivalents or securities)
used in the Oil and Gas Business or any business ancillary thereto, (ii) Investments in any other Person engaged in the Oil and Gas Business or any business ancillary thereto (including the acquisition from third parties of Capital Stock of
such Person) as a result of which such other Person becomes a Restricted Subsidiary, (iii) the acquisition from third parties of Capital Stock of a Restricted Subsidiary or (iv) Permitted Business Investments. 

“Additional Notes” means any Notes issued under this Indenture in addition to the Initial Notes having the same terms
in all respects as the Initial Notes except that issue price may differ and (i) interest may accrue on the Additional Notes from their date of issuance and (ii) Additional Notes may have a different CUSIP number than the Original Notes to
the extent such Additional Notes are not fungible with the Original Notes for United States federal income tax purposes. 

“Adjusted Consolidated Net Tangible Assets” means (without duplication), as of the date of determination, the
remainder of: 
 (i) the sum of 

  
 1 

 (a) discounted future net revenues from proved oil and gas reserves of the Company and its
Restricted Subsidiaries calculated in accordance with SEC guidelines before any state, federal or foreign income taxes, as estimated in a reserve report prepared as of the end of the Company’s most recently completed fiscal year, which reserve
report is prepared or reviewed by independent petroleum engineers as to reserves accounting for at least 80% of all such discounted future net revenues and by the Company’s petroleum engineers with respect to any other reserves covered by such
report, as increased by, as of the date of determination, the estimated discounted future net revenues from (1) estimated proved oil and gas reserves acquired since such year-end, which reserves were not reflected in such year-end reserve
report, and (2) estimated increases in proved oil and gas reserves since such year-end due to exploration, development or exploitation activities or due to changes in geological conditions or other factors which would, in accordance with
standard industry practice, cause such revisions, in each case calculated in accordance with SEC guidelines (utilizing the prices utilized in such year-end reserve report), and decreased by, as of the date of determination, the estimated discounted
future net revenues from (3) estimated proved oil and gas reserves reflected in such year-end report produced or disposed of since such year-end and (4) estimated oil and gas reserves attributable to downward revisions of estimates of
proved oil and gas reserves since such year-end due to changes in geological conditions or other factors which would, in accordance with standard industry practice, cause such revisions, in each case calculated in accordance with SEC guidelines
(utilizing the prices utilized in such year-end reserve report); provided that, in the case of each of the determinations made pursuant to clauses (1) through (4), such increases and decreases shall be as estimated by the Company’s
petroleum engineers, plus 
 (b) the capitalized costs that are attributable to oil and gas properties of the Company and its Restricted
Subsidiaries to which no proved oil and gas reserves are attributable, based on the Company’s books and records as of a date no earlier than the date of the Company’s latest annual or quarterly financial statements, plus 

(c) the Net Working Capital on a date no earlier than the date of the Company’s latest annual or quarterly financial statements, plus

 (d) the greater of (1) the net book value on a date no earlier than the date of the Company’s latest annual or quarterly
financial statements and (2) the appraised value, as estimated by independent appraisers, of other tangible assets (including, without duplication, Investments in unconsolidated Restricted Subsidiaries) of the Company and its Restricted
Subsidiaries, as of the date no earlier than the date of the Company’s latest audited financial statements (provided that the Company shall not be required to obtain such appraisal of such assets if no such appraisal has been performed),

 minus 
 (ii) the sum of

 (a) minority interests, plus 

(b) any net gas balancing liabilities of the Company and its Restricted Subsidiaries reflected in the Company’s latest audited
Consolidated financial statements, plus 
 (c) to the extent included in (i)(a) above, the discounted future net revenues, calculated in
accordance with SEC guidelines (utilizing the prices utilized in the Company’s year-end reserve report), attributable to reserves which are required to be delivered to third parties to fully satisfy the obligations of the Company and its
Restricted Subsidiaries with respect to Volumetric Production Payments (determined, if applicable, using the schedules specified with respect thereto) plus 

(d) the discounted future net revenues, calculated in accordance with SEC guidelines, attributable to reserves subject to Dollar-Denominated
Production Payments which, based on the estimates of production and price assumptions included in determining the discounted future net revenues specified in (i)(a) above, would be necessary to fully satisfy the payment obligations of the Company
and its Restricted Subsidiaries with respect to Dollar-Denominated Production Payments (determined, if applicable, using the schedules specified with respect thereto). 

  
 2 

 If the Company changes its method of accounting from the full cost method to the successful
efforts method or a similar method of accounting, “Adjusted Consolidated Net Tangible Assets” will continue to be calculated as if the Company were still using the full cost method of accounting. 

“Adjusted Treasury Rate” means, with respect to any redemption date, the sum of (a) the yield to maturity at the
time of computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available at least two Business Days prior
to the redemption date (or, if such Statistical Release is no longer published, any publicly available source or similar market data)) most nearly equal to the period from the redemption date to April 15, 2017; provided,
however, that if the period from the redemption date to April 15, 2017 is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by
linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from the redemption date to April 15, 2017 is
less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used, plus (b) 0.50%. 

“Affiliate” means, with respect to any specified Person: (1) any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person; (2) any other Person that owns, directly or indirectly, 10% or more of the Voting Stock of such specified Person (or any of such specified Person’s
direct or indirect parent’s Voting Stock); or (3) any other Person 10% or more of the Voting Stock of which is beneficially owned or held directly or indirectly by such specified Person. For the purposes of this definition,
“control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through ownership of voting securities, by contract or otherwise; and the terms
“controlling” and “controlled” have meanings correlative to the foregoing. 
 “Agent” means any
Registrar, Paying Agent or Authenticating Agent. 
 “Agent Member” means a member of, or a participant in, the Depositary.

 “Applicable Premium” means at any redemption date, the greater of (i) 1.00% of the principal amount of any
Note to be redeemed on such date and (ii) the excess of (A) the present value at such redemption date of (1) the redemption price of such Note on April 15, 2017 (as set forth in Section 3.01 of this Indenture) exclusive of
any accrued interest, plus (2) all required remaining scheduled interest payments due on such Note through April 15, 2017, (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the
Adjusted Treasury Rate, over (B) the principal amount of such Note on such redemption date. The Company will calculate the Applicable Premium and provide such premium to the Trustee prior to the applicable redemption date.  

“Asset Sale” means any sale, issuance, conveyance, transfer, lease or other disposition (including, without
limitation, by way of merger or consolidation, Production Payments and Reserve Sales or a Sale Leaseback Transaction) (collectively, a “transfer”), directly or indirectly, in one or a series of related transactions, of: 

(1) any Capital Stock of any Restricted Subsidiary; 

(2) all or substantially all of the properties and assets of any division or line of business of the Company or any Restricted
Subsidiary; or 
 (3) any other properties, assets or rights of the Company or any Restricted Subsidiary other than in the
ordinary course of business. 
 For the purposes of this definition, the term “Asset Sale” shall not include: 

(A) any transfer of properties and assets (including any Capital Stock of a Restricted Subsidiary) that is governed by Article
5, or any transfer of equity interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary, 

  
 3 

 (B) any transfer of properties and assets that is by the Company to any
Restricted Subsidiary, or by any Restricted Subsidiary to the Company or any other Restricted Subsidiary in accordance with the terms of this Indenture, 

(C) any transfer of properties and assets that would be within the definition of a “Permitted Payment,” a
“Permitted Investment” or a “Restricted Payment” and, in the latter case, would be permitted to be made as a Restricted Payment (and shall be deemed a Restricted Payment) under Section 4.07, 

(D) the transfer of Cash Equivalents, inventory, accounts receivable, surplus or obsolete equipment or other property
(excluding the disposition of oil and gas in place and other interests in real property unless made in connection with a Permitted Business Investment), 

(E) the abandonment, assignment, lease, sublease or farm-out of oil and gas properties, or the forfeiture or other disposition
of such properties, pursuant to operating agreements or other instruments or agreements that, in each case, are entered into in the ordinary course of business in a manner that is customary in the Oil and Gas Business, 

(F) the transfer of Property received in settlement of debts owing to such Person as a result of foreclosure, perfection or
enforcement of any Lien or debt, which debts were owing to such Person in the ordinary course of its business, 
 (G) any
Production Payments and Reserve Sales, provided that any such Production Payments and Reserve Sales (other than incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists and
other providers of technical services to the Company or a Restricted Subsidiary), shall have been created, incurred, issued, assumed or guaranteed in connection with the acquisition or financing of, and within 90 days after the acquisition of, the
Property that is subject thereto, 
 (H) the licensing or sublicensing of intellectual property or other general intangibles
to the extent that such license does not prohibit the licensor from using the intellectual property and licenses, leases or subleases of other property, 

(I) the creation or incurrence of any Lien, 

(J) the surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any
kind, 
 (K) the sale or other disposition (whether or not in the ordinary course of business) of oil and gas properties,
provided at the time of such sale or other disposition such properties do not have associated with them any proved reserves or 

(L) any transfer of assets the Fair Market Value of which in the aggregate does not exceed $20,000,000 in any transaction or
series of related transactions. 
 “Attributable Indebtedness” in respect of a Sale Leaseback Transaction means, at
the time of determination, the present value (discounted at the rate of interest implicit in such transaction, determined in accordance with GAAP) of the obligation of the lessee for net rental payments during the remaining term of the lease
included in such Sale Leaseback Transaction (including any period for which such lease has been extended or may, at the option of the lessor, be extended). 

“Authenticating Agent” refers to a Person engaged to authenticate the Notes in the stead of the Trustee. 

“Board of Directors” means the board of directors or comparable governing body of the Company, or any committee
thereof duly authorized to act on its behalf. 

  
 4 

 “Business Day” means any day other than a Saturday, Sunday or other day
on which commercial banks are authorized by law to close, or are in fact closed, in New York City or in the city where the Corporate Trust Office of the Trustee is located. 

“Capital Lease Obligation” of any Person means any obligation of such Person and its Restricted Subsidiaries on a
Consolidated basis under any capital lease of (or other agreement conveying the right to use) real or personal property which, in accordance with GAAP, is required to be recorded as a capitalized lease obligation. 

“Capital Stock” of any Person means any and all shares, units, interests, participations, rights in or other
equivalents (however designated) of such Person’s capital stock, other equity interests whether now outstanding or issued after the date hereof, partnership interests (whether general or limited), limited liability company interests, any other
interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, including any Preferred Stock, and any rights (other than debt securities or other
Indebtedness convertible into Capital Stock), warrants or options exchangeable for or convertible into such Capital Stock. 

“Cash Equivalents” means 

(1) any evidence of Indebtedness issued or directly and fully guaranteed or insured by the United States or any agency or
instrumentality thereof, 
 (2) deposits, time deposit accounts, certificates of deposit, money market deposits or
acceptances of any financial institution having capital and surplus in excess of $500,000,000 that is a member of the Federal Reserve System and whose senior unsecured debt is rated at least “A-1” by S&P or at least “P-1” by
Moody’s, 
 (3) commercial paper with a maturity of 365 days or less issued by a corporation (other than an Affiliate or
Subsidiary of the Company) organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and rated at least “A-1” by S&P and at least “P-1” by Moody’s, 

(4) repurchase agreements and reverse repurchase agreements relating to Indebtedness of a type described in clause
(1) above that are entered into with a financial institution described in clause (2) above and mature within 365 days from the date of acquisition, 

(5) deposits and certificates of deposit with any commercial bank not meeting the qualifications specified in clause
(2) above, provided all such deposits do not exceed $1,000,000 in the aggregate at any one time and 
 (6) money
market funds which invest substantially all of their assets in securities described in the preceding clauses (1) through (4). 

“Certificated Note” means a Note in registered individual form without interest coupons. 

“Change of Control” means the occurrence of any of the following events: 

(1) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or
becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a Person shall be deemed to have beneficial ownership of all shares that such Person has the right to acquire, whether such right is
exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total outstanding Voting Stock of the Company or any Successor Parent (measured by voting power rather than the number of shares); provided,
however, that no Change of Control shall be deemed to occur by reason of the Company becoming a Subsidiary of a Successor Parent; 

  
 5 

 (2) during any period of two consecutive years, individuals who at the beginning
of such period constituted the Board of Directors of the Company or any Successor Parent (together with any new directors whose election to such board or whose nomination for election by the stockholders of the Company or any Successor Parent, as
the case may be, was approved by a vote of 66 2⁄3% of the directors then still in office who were either directors at the beginning of such period or whose
election or nomination for election was previously so approved), cease for any reason to constitute a majority of such Board of Directors then in office; 

(3) the Company or any Successor Parent consolidates with or merges with or into any Person, or sells, assigns, conveys,
transfers, leases or otherwise disposes of all or substantially all of its assets to any such Person, or any such Person consolidates with or merges into or with the Company or any Successor Parent, in any such event pursuant to a transaction in
which the outstanding Voting Stock of the Company or such Successor Parent, as the case may be is converted into or exchanged for cash, securities or other property, other than any such transaction where 

(A) the outstanding Voting Stock of the Company, or such Successor Parent, as the case may be, is changed into or exchanged for
Voting Stock of the surviving Person which is not Disqualified Stock and 
 (B) immediately after such transaction, no
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a person shall be deemed to have
beneficial ownership of all securities that such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total outstanding Voting Stock
(measured by voting power rather than the number of shares) of the surviving Person; or 
 (4) the Company is liquidated or
dissolved or adopts a plan of liquidation or dissolution other than in a transaction which complies with the provisions of Article 5. 
 For
purposes of this definition, any transfer of an equity interest of an entity that was formed for the purpose of acquiring Voting Stock of the Company will be deemed to be a transfer of such portion of such Voting Stock as corresponds to the portion
of the equity of such entity that has been so transferred. Notwithstanding the foregoing, a Change of Control shall not be deemed to occur upon the consummation of any actions undertaken by the Company or any Restricted Subsidiary solely for the
purpose of changing the legal structure of the Company or such Restricted Subsidiary. 
 “close of business” means 5:00
p.m., New York City time. 
 “Common Stock” means the common stock, par value $0.001 per share, of the Company at the date
of this Indenture, subject to Section 10.12. 
 “Common Stock Restricted Legend” means the legend set forth in Exhibit C-2.

 “Company” means the party named as such in the first paragraph of this Indenture or any successor obligor under
this Indenture and the Notes pursuant to Article 5. 
 “Consolidated Fixed Charge Coverage Ratio” of any Person
means, for any period, the ratio of 
 (a) without duplication, the sum of Consolidated Net Income, and in each case to the extent deducted
in computing such Consolidated Net Income for such period, Consolidated Interest Expense, Consolidated Income Tax Expense and Consolidated Non-cash Charges for such period, of such Person and its Restricted Subsidiaries on a Consolidated basis, all
determined in accordance with GAAP, less all non-cash items increasing Consolidated Net Income for such period, less (to the extent included in determining Consolidated Net Income) the sum of (1) the amount of deferred revenues that are
amortized during the period and are attributable to reserves that are subject to Volumetric Production Payments and (2) amounts recorded in accordance with GAAP as repayments of principal 

  
 6 

 
and interest pursuant to Dollar-Denominated Production Payments, and less all cash payments during such period relating to non-cash charges that were added back to Consolidated Net Income in
determining the Consolidated Fixed Charge Coverage Ratio in any prior period to 
 (b) Consolidated Interest Expense for such period, 

in each case after giving pro forma effect to, without duplication: 

(1) the incurrence of the Indebtedness giving rise to the need to make such calculation and (if applicable) the application of
the net proceeds therefrom, including to refinance other Indebtedness, as if such Indebtedness was incurred, and the application of such proceeds occurred, on the first day of such period; 

(2) the incurrence, repayment or retirement of any other Indebtedness by the Person and its Restricted Subsidiaries since the
first day of such period as if such Indebtedness was incurred, repaid or retired at the beginning of such period (except that, in making such computation, the amount of Indebtedness under any revolving credit facility shall be computed based upon
the average daily balance of such Indebtedness during such period); 
 (3) in the case of Acquired Debt or any acquisition
occurring at the time of the incurrence of such Indebtedness, the related acquisition, assuming such acquisition had been consummated on the first day of such period; and 

(4) any acquisition or disposition by such Person and its Restricted Subsidiaries of any company or any business or any assets
out of the ordinary course of business, whether by merger, stock purchase or sale or asset purchase or sale, or any related repayment of Indebtedness, in each case since the first day of such period, assuming such acquisition or disposition had been
consummated on the first day of such period, and any expense and cost reductions that have occurred or are reasonably expected to occur, in the reasonable judgment of the chief financial or accounting officer of the Company (regardless of whether
those costs savings or operating improvements could then be reflected in pro forma financial statements in accordance with Regulation S-X promulgated under the Securities Act or any other regulation or policy of the SEC related thereto); 

provided that 
 (1)
in making such computation, the Consolidated Interest Expense attributable to interest on any Indebtedness computed on a pro forma basis and (A) bearing a floating interest rate shall be computed as if the rate in effect on the date of
computation had been the applicable rate for the entire period and (B) which was not outstanding for any part of the period for which the computation is being made but which bears, at the option of such Person, a fixed or floating rate of
interest, shall be computed by applying at the option of such Person either the fixed or floating rate, and 
 (2) in making
such computation, the Consolidated Interest Expense of such Person attributable to interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such
Indebtedness during the applicable period. 
 “Consolidated Income Tax Expense” of any Person means, for any period,
the provision for federal, state, local and foreign income taxes (including state franchise taxes accounted for as income taxes in accordance with GAAP) of such Person and its Restricted Subsidiaries for such period as determined, on a Consolidated
basis, in accordance with GAAP. 
 “Consolidated Interest Expense” of any Person means, without duplication, for any
period, the sum of 

  
 7 

 (a) the interest expense, less interest income, of such Person and its Restricted Subsidiaries
for such period, on a Consolidated basis, excluding any interest attributable to Dollar-Denominated Production Payments but including, without limitation, 

(1) amortization of debt discount (excluding amortization of capitalized debt issuance costs), 

(2) the net cash costs associated with Interest Rate Agreements (including amortization of discounts), 

(3) the interest portion of any deferred payment obligation, 

(4) all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers acceptance
financing and 
 (5) accrued interest, minus 

(b) to the extent included in (a) above, write-offs of deferred financing costs of such Person and its Restricted Subsidiaries during
such period and any charge related to, or any premium paid in connection with, paying any such Indebtedness of such Person and its Restricted Subsidiaries prior to its Stated Maturity, plus 

(c) (1) the interest component of the Capital Lease Obligations paid, accrued and/or scheduled to be paid or accrued by such Person and
its Restricted Subsidiaries during such period and 
 (2) all capitalized interest of such Person and its Restricted Subsidiaries plus 

(d) the interest expense under any Guaranteed Debt of such Person and any Restricted Subsidiary to the extent not included under any other
clause hereof, whether or not paid by such Person or its Restricted Subsidiaries, plus 
 (e) dividend payments by the Person with respect
to Disqualified Stock and of any Restricted Subsidiary with respect to Preferred Stock (except, in either case, dividends paid solely in Qualified Capital Stock of such Person or such Restricted Subsidiary, as the case may be). 

“Consolidated Net Income” of any Person means, for any period, the Consolidated net income (or loss) of such Person
and its Restricted Subsidiaries for such period on a Consolidated basis as determined in accordance with GAAP, adjusted, to the extent included in calculating such net income (or loss), by excluding, without duplication, 

(1) all extraordinary gains or losses net of taxes (less all fees and expenses relating thereto), 

(2) the portion of net income (or loss) of such Person and its Restricted Subsidiaries on a Consolidated basis allocable to
minority interests in unconsolidated Persons or Unrestricted Subsidiaries but only to the extent that cash dividends or distributions have not actually been received by such Person or one of its Consolidated Restricted Subsidiaries, 

(3) any gain or loss, net of taxes, realized upon the termination of any employee pension benefit plan, 

(4) gains or losses, net of taxes (less all fees and expenses relating thereto), in respect of dispositions of assets other
than in the ordinary course of the Oil and Gas Business (including, without limitation, dispositions pursuant to Sale Leaseback Transactions, but excluding transactions such as farmouts, sales of leasehold inventory and sales of undivided interests
in drilling prospects), 
 (5) the net income of any Restricted Subsidiary that is not also a Guarantor, to the extent that
the declaration of dividends or similar distributions by that Restricted Subsidiary of that income is not at the time permitted, directly or indirectly, by operation of the terms of its charter or any judgment, decree, order, statute, rule or
governmental regulation applicable to that Restricted Subsidiary or the holders of its Capital Stock, 

  
 8 

 (6) any write-downs of non-current assets, provided that any ceiling
limitation write-downs under SEC guidelines shall be treated as capitalized costs, as if such write-downs had not occurred, 

(7) any cumulative effect of a change in accounting principles, 

(8) all deferred financing costs written off, and premiums paid, in connection with any early extinguishment of Indebtedness,

 (9) any unrealized non-cash gains or losses or charges in respect of hedge or non-hedge derivatives (including those
resulting from the application of the Derivatives and Hedging Topic of the FASB Accounting Standards Codification), and 

(10) any non-cash compensation charge arising from any grant of stock, stock options or other equity-based awards. 

“Consolidated Net Worth” means, with respect to any specified Person as of any date, the consolidated
shareholders’ equity of such Person and its consolidated Subsidiaries as of such date determined on a consolidated basis in accordance with GAAP, less (without duplication) amounts attributable to Disqualified Stock of such Person. 

“Consolidated Non-cash Charges” of any Person means, for any period, the aggregate depreciation, depletion,
amortization and exploration expense and other non-cash charges of such Person and its Restricted Subsidiaries on a Consolidated basis for such period, as determined in accordance with GAAP (excluding any non-cash charge which requires an accrual or
reserve for cash charges for any future period but including, without limitation, any non-cash charge arising from any grant of Capital Stock, options to acquire Capital Stock, or other equity based awards). 

“Consolidation” and “Consolidated” mean, with respect to any Person, the consolidation of the
accounts of such Person and each of its Subsidiaries if and to the extent the accounts of such Person and each of its Subsidiaries would normally be consolidated with those of such Person, all in accordance with GAAP. 

“Conversion Agent” refers to a Person engaged to perform the obligations in respect of conversion of the Notes. 

“Conversion Date” means an Early Conversion Date or the Mandatory Conversion Date, as applicable. 

“Conversion Notice” means a “Conversion Notice” in the form attached to the Form of Note attached hereto as Exhibit
A. 
 “Conversion Price” shall, on any date of determination, equal the quotient of $1,000 divided by the Conversion
Rate in effect on such date. 
 “Conversion Rate” shall initially be 363.6363 shares of Common Stock per
$1,000 principal amount of Notes, subject to adjustment as provided in Article 10. 
 “Corporate Trust
Office” means the office of the Trustee at which at any time the corporate trust business in relation to this Indenture and the Notes is administered, which office at the date of this Indenture is located at 5555 San Felipe Street, 11th Floor, Houston, Texas 77056, Attention: Corporate Trust Services. 

“Credit Facility” means one or more debt facilities (including, without limitation, the Senior Credit Facility),
commercial paper facilities or other debt instruments, indentures or agreements providing for revolving credit loans, term loans, receivables financings (including through the sale of receivables to the lenders or to special 

  
 9 

 
purpose entities formed to borrow from the lenders against such receivables), letters of credit, capital markets financings and/or private placements involving bonds or other debt securities, or
other debt obligations, in each case, as amended, restated, modified, renewed, refunded, restructured, supplemented, replaced or refinanced from time to time in whole or in part from time to time, including without limitation any amendment
increasing the amount of Indebtedness incurred or available to be borrowed thereunder, extending the maturity of any Indebtedness incurred thereunder or contemplated thereby or deleting, adding or substituting one or more parties thereto (whether or
not such added or substituted parties are banks or other institutional lenders). 
 “Debtor Relief Laws” means the
Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United
States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice,
the passage of time, or both, would be an Event of Default. 
 “Depositary” means the depositary of each Global
Note, which will initially be DTC. 
 “Designation” has the meaning assigned to such term in Section 4.18. 

“Designation Amount” has the meaning assigned to such term in Section 4.18. 

“Disinterested Director” means, with respect to any transaction or series of related transactions, a member of the Board of
Directors of the Company who does not have any material direct or indirect financial interest (other than as a shareholder or employee of the Company or any Subsidiary) in or with respect to such transaction or series of related transactions. 

“Disqualified Stock” means any Capital Stock that, either by its terms or by the terms of any security into which it is
convertible or exchangeable or otherwise, is or upon the happening of an event or passage of time would be, required to be redeemed (unless, at the option of the Company such redemption can be satisfied solely with Qualified Capital Stock) prior to
the final Stated Maturity of the Notes or is redeemable at the option of the Holder thereof (unless, at the option of the Company such redemption can be satisfied solely with Qualified Capital Stock) at any time prior to such final Stated Maturity
(other than upon a change of control of or sale of assets by the Company in circumstances where the Holders would have similar rights), or is convertible into or exchangeable for debt securities at any time prior to such final Stated Maturity at the
option of the Holder thereof. 
 “Dollar” and “$” mean lawful money of the United States. 

“Dollar-Denominated Production Payment” means a production payment required to be recorded as a borrowing in accordance with
GAAP, together with all undertakings and obligations in connection therewith. 
 “DTC” means The Depository Trust Company,
a New York corporation, and its successors. 
 “DTC Legend” means the legend set forth in Exhibit D. 

“Early Conversion” shall have the meaning set forth in Section 10.01(a). 

“Early Conversion Date” means, with respect to a Note being converted by a Holder exercising its right to Early Conversion,
the date on which a Holder satisfies all the requirements for such conversion specified in the first paragraph of Section 10.02(a). 

  
 10 

 “Early Conversion Payment” means an amount of cash per $1,000 principal amount
of Notes payable to a Holder exercising its Early Conversion rights, equal to the amount under the column entitled “Early Conversion Payment” of the table set forth below during the applicable period indicated below: 

 

					
	 Early Conversion Date
	  	Early Conversion
Payment	 
	 August 19, 2015 through August 19, 2016
	  	$	121.875	  
	 August 20, 2016 through August 19, 2017
	  	 	81.25	  

 “Eligible Market” shall have the meaning set forth in Section 10.01(b)(ii). 

“Equity Conditions” shall have the meaning set forth in Section 10.01(b). 

“Equity Conditions Measuring Period” shall have the meaning set forth in Section 10.01(b). 

“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. 
 “Event of Default” has the meaning assigned to such term in Section 6.01. 

“Excess Proceeds” means any Net Available Cash from an Asset Sale not applied in accordance with Section 4.14(b)
within 365 days from the date of such Asset Sale. 
 “Exchange Act” means the Securities Exchange Act of
1934. 
 “Exchanged Properties” means properties or assets or Capital Stock representing an equity interest
in or assets used or useful in the Oil and Gas Business, received by the Company or a Restricted Subsidiary in a substantially concurrent purchase and sale, trade or exchange as a portion of the total consideration for other such properties or
assets. 
 “Fair Market Value” means, with respect to any asset or property, the sale value that would be
obtained in an arm’s-length free market transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy. Fair Market Value of an asset or property in excess of
$25,000,000 shall be determined by the Board of Directors of the Company acting in good faith, in which event it shall be evidenced by a resolution of the Board of Directors. 

“Foreign Subsidiary” means any Restricted Subsidiary of the Company that (x) is not organized under the laws of
the United States of America or any State thereof or the District of Columbia, or (y) was organized under the laws of the United States of America or any State thereof or the District of Columbia that has no material assets other than Capital
Stock of one or more foreign entities of the type described in clause (x) above and is not a guarantor of Indebtedness under a Credit Facility. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to
time. 
 “Global Note” means a Note in registered global form without interest coupons. 

“Guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any
Indebtedness or other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase or pay (or advance or supply funds for the
purchase or payment of) such Indebtedness or other obligation of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep well, to purchase assets, goods, securities or services, to take-or-pay, or to
maintain financial statement conditions or otherwise) or (ii) entered into  

  
 11 

 
for purposes of assuring in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee against loss in respect thereof, in whole
or in part; provided that the term “Guarantee” does not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee” used as a verb has a corresponding meaning. 

“Guaranteed Debt” of any Person means, without duplication, all Indebtedness of any other Person referred to in the
definition of Indebtedness below guaranteed directly or indirectly in any manner by such Person, or in effect guaranteed directly or indirectly by such Person through an agreement, made primarily for the purpose of enabling the debtor to make
payment of such Indebtedness or to assure the holder of such Indebtedness against loss, 
 (1) to pay or purchase such
Indebtedness or to advance or supply funds for the payment or purchase of such Indebtedness, 
 (2) to purchase, sell or
lease (as lessee or lessor) property, or to purchase or sell services, 
 (3) to supply funds to, or in any other manner
invest in, the debtor (including any agreement to pay for property or services without requiring that such property be received or such services be rendered), 

(4) to maintain working capital or equity capital of the debtor, or otherwise to maintain the net worth, solvency or other
financial condition of the debtor or to cause such debtor to achieve certain levels of financial performance or 
 (5)
otherwise to assure a creditor against loss; 
 provided that the term “guarantee” shall not include endorsements for collection or
deposit, in either case in the ordinary course of business. 
 “Guarantors” means (i) each Restricted
Subsidiary that executes this Indenture as an initial Guarantor to provide for the guarantee of the payment of the Notes and (ii) each Restricted Subsidiary that executes a supplemental indenture in the form of Exhibit B to this Indenture
providing for the guarantee of the payment of the Notes, or any successor obligor under its Note Guarantee pursuant to Article 11, in each case unless and until such Guarantor is released from its Note Guarantee pursuant to this Indenture.

 “Holder” or “Noteholder” means the registered holder of any Note. 

“Immaterial Subsidiary” means any Subsidiary with total assets of less than $500,000, as determined in accordance with
its latest financial statements. 
 “Indebtedness” means, with respect to any Person, without duplication,

 (1) all indebtedness of such Person for borrowed money or for the deferred purchase price of property or services,
excluding any Trade Accounts Payable and other accrued current liabilities arising in the ordinary course of business, but including, without limitation, all obligations, contingent or otherwise, of such Person in connection with any letters of
credit issued under letter of credit facilities, acceptance facilities or other similar facilities, 
 (2) all obligations of
such Person evidenced by bonds, notes, debentures or other similar instruments, 
 (3) all indebtedness created or arising
under any conditional sale or other title retention agreement with respect to property acquired by such Person (even if the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale
of such property), but excluding Trade Accounts Payable, 

  
 12 

 (4) all obligations under or in respect of currency exchange contracts, oil, gas
or other hydrocarbon price hedging arrangements and Interest Rate Agreements of such Person (the amount of any such obligations to be equal at any time to the termination value of such agreement or arrangement giving rise to such obligation that
would be payable by such Person at such time), 
 (5) all Capital Lease Obligations of such Person, 

(6) the Attributable Indebtedness of such Person related to any Sale Leaseback Transaction, 

(7) all Indebtedness referred to in clauses (1) through (6) above of other Persons and all dividends of other
Persons, to the extent the payment of such Indebtedness or dividends is secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien, upon or with respect to property (including,
without limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such Indebtedness, 

(8) all Guaranteed Debt of such Person, 

(9) all Disqualified Stock issued by such Person, valued at the greater of its voluntary or involuntary maximum fixed
repurchase price plus accrued and unpaid dividends, 
 (10) all Preferred Stock of any Restricted Subsidiary of the Person,
valued at the greater of its voluntary or involuntary maximum fixed repurchase price plus accrued and unpaid dividends, 

(11) with respect to any Production Payment and Reserve Sale, any warranties or guarantees of production or payment by such
Person with respect to such Production Payment and Reserve Sale but excluding other contractual obligations of such Person with respect to such Production Payment and Reserve Sale and 

(12) any amendment, supplement, modification, deferral, renewal, extension, refunding or refinancing of any liability of the
types referred to in clauses (1) through (11) above. 
 For purposes hereof, the “maximum fixed repurchase price” of any
Disqualified Stock or Preferred Stock which does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock or Preferred Stock as if it were purchased on any date on which Indebtedness shall be
required to be determined pursuant to this Indenture, and if such price is based upon, or measured by, the Fair Market Value of such Disqualified Stock or Preferred Stock, such Fair Market Value to be determined in good faith by the Board of
Directors of the issuer of such Disqualified Stock or Preferred Stock. Subject to clause (11) of the preceding sentence, Production Payments and Reserve Sales shall not be deemed to be Indebtedness. 

“Indenture” means this indenture, as amended or supplemented from time to time. 

“Initial Notes” means the Notes issued on the Issue Date and any Notes issued in replacement thereof. 

“Institutional Accredited Investor Certificate” means a certificate substantially in the form of Exhibit G hereto.

 “Interest Payment Date” means April 15 and October 15 of each year (except as provided in the
proviso to in this definition), commencing October 15, 2015; provided that the final Interest Payment Date shall be on October 16, 2022. 

“Interest Rate Agreements” means one or more of the following agreements which shall be entered into from time to time
by one or more financial institutions: interest rate protection agreements (including, without limitation, interest rate swaps, caps, floors, collars and similar agreements) and/or other types of interest rate hedging agreements. 

  
 13 

 “Investment” means, with respect to any Person, directly or indirectly,
any advance, loan (including Guarantees), or other extension of credit or capital contribution to any other Person (by means of any transfer of cash or other property to others or any payment for property or services for the account or use of
others), or any purchase, acquisition or ownership by such Person of any Capital Stock, bonds, notes, debentures or other securities issued or owned by any other Person and all other items that would be classified as investments on a balance sheet
prepared in accordance with GAAP. “Investment” shall exclude direct or indirect advances to customers or suppliers in the ordinary course of business that are, in conformity with GAAP, recorded as accounts receivable, prepaid expenses or
deposits on the Company’s or any Restricted Subsidiary’s balance sheet, endorsements for collection or deposit arising in the ordinary course of business and extensions of trade credit on commercially reasonable terms in accordance with
normal trade practices. If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any Capital Stock of any direct or indirect Subsidiary of the Company such that, after giving effect to any such sale or disposition,
such Person is no longer a Subsidiary of the Company (other than the sale of all of the outstanding Capital Stock of such Subsidiary), the Company will be deemed to have made an Investment on the date of such sale or disposition equal to the Fair
Market Value of the Company’s Investments in such Subsidiary that were not sold or disposed of in an amount determined as provided in Section 4.07. 

“Investment Grade Status” shall occur when the Notes are rated as follows by one of the following two rating agencies:
Baa3 or better by Moody’s, BBB- or better by S&P (or, if either such entity ceases to rate the Notes, the equivalent investment grade credit rating from any other “nationally recognized statistical rating organization” within the
meaning of Section 3(a)(62) of the Exchange Act selected by the Company as a replacement agency). 
 “Issue
Date” means the earliest date on which any Notes are originally issued under this Indenture. 

“Lien” means any mortgage or deed of trust, charge, pledge, lien (statutory or otherwise), privilege, security
interest, assignment, deposit, arrangement, hypothecation, claim, preference, priority or other encumbrance for security purposes upon or with respect to any property of any kind (including any conditional sale, capital lease or other title
retention agreement, any leases in the nature thereof, and any agreement to give any security interest), real or personal, movable or immovable, now owned or hereafter acquired. A Person will be deemed to own subject to a Lien any property which it
has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, Capital Lease Obligation or other title retention agreement. References herein to Liens allowed to exist upon any particular item of Property
shall also be deemed (whether or not stated specifically) to allow Liens to exist upon any accessions, improvements or additions to such property, upon any contractual rights relating primarily to such Property, and upon any proceeds of such
Property or of such accessions, improvements, additions or contractual rights. 
 “Liquid Securities” means
securities (i) of an issuer that is not an Affiliate of the Company, (ii) that are publicly traded on the New York Stock Exchange, the NYSE AMEX Equities or the Nasdaq Stock Market (or any successor thereof) and (iii) as to which the
Company is not subject to any restrictions on sale or transfer (including any volume restrictions under Rule 144 under the Securities Act or any other restrictions imposed by the Securities Act) or as to which a registration statement under the
Securities Act covering the resale thereof is in effect for as long as the securities are held; provided that securities meeting the requirements of clauses (i), (ii) and (iii) above shall be treated as Liquid
Securities from the date of receipt thereof until and only until the earlier of (a) the date on which such securities are sold or exchanged for cash or Cash Equivalents and (b) 360 days following the date of receipt of such securities. If
such securities are not sold or exchanged for cash or Cash Equivalents within 360 days of receipt thereof, for purposes of determining whether the transaction pursuant to which the Company or a Restricted Subsidiary received the securities was in
compliance with the provisions of Section 4.14, such securities shall be deemed not to have been Liquid Securities at any time. 

“Mandatory Conversion” shall have the meaning set forth in Section 10.01(b). 

“Mandatory Conversion Date” shall have the meaning set forth in Section 10.01(b). 

“Mandatory Conversion Notice” shall have the meaning set forth in Section 10.01(b). 

“Merger Event” shall have the meaning set forth in Section 10.12.  

  
 14 

 “Midstream Assets” means (i) assets used primarily for gathering,
transmission, storage, processing or treatment of natural gas, natural gas liquids or other hydrocarbons or carbon dioxide and (ii) equity interests of any Person that has no substantial assets other than assets referred to in clause (i).

 “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Net Available Cash” from an Asset Sale means cash proceeds received therefrom (including (i) any cash proceeds
received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received and (ii) the Fair Market Value of Liquid Securities and Cash Equivalents, and excluding (iii) any
other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to the assets or property that is the subject of such Asset Sale and (iv) except to the extent subsequently converted
to cash within 360 days after such Asset Sale; consideration constituting Exchanged Properties or consideration other than as identified in the immediately preceding clauses (i) and (ii)), in each case net of: 

(a) all legal, title and recording expenses, commissions and other fees and expenses incurred, and all federal, state, foreign
and local taxes required to be paid or accrued as a liability under GAAP as a consequence of such Asset Sale, 
 (b) all
payments made on any Indebtedness (but specifically excluding Indebtedness of the Company and its Restricted Subsidiaries assumed in connection with or in anticipation of such Asset Sale) which is secured by any assets subject to such Asset Sale, in
accordance with the terms of any Lien upon such assets, or which must by its terms, or in order to obtain a necessary consent to such Asset Sale or by applicable law, be repaid out of the proceeds from such Asset Sale, provided that such
payments are made in a manner that results in the permanent reduction in the balance of such Indebtedness and, if applicable, a permanent reduction in any outstanding commitment for future incurrences of Indebtedness thereunder, 

(c) all distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures as
a result of such Asset Sale and 
 (d) the deduction of appropriate amounts to be provided by the seller as a reserve, in
accordance with GAAP, against any liabilities associated with the assets disposed of in such Asset Sale and retained by the Company or any Restricted Subsidiary after such Asset Sale; 

provided, however, that if any consideration for an Asset Sale (which would otherwise constitute Net Available Cash) is required to be held in escrow
pending determination of whether a purchase price adjustment will be made, such consideration (or any portion thereof) shall become Net Available Cash only at such time as it is released to the Company or its Restricted Subsidiaries from escrow.

 “Net Cash Proceeds” means with respect to any issuance or sale of Capital Stock or debt securities or Capital
Stock that has been converted into or exchanged for Capital Stock as referred to in Section 4.07, the proceeds of such issuance or sale in the form of cash or Cash Equivalents including payments in respect of deferred payment obligations when
received in the form of, or stock or other assets when disposed of for, cash or Cash Equivalents (except to the extent that such obligations are financed or sold with recourse to the Company or any Restricted Subsidiary), net of attorney’s
fees, accountant’s fees and brokerage, consultation, underwriting and other fees and expenses actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof. 

“Net Working Capital” means (i) all current assets of the Company and its Restricted Subsidiaries, less
(ii) all current liabilities of the Company and its Restricted Subsidiaries, except current liabilities included in Indebtedness, in each case as set forth in Consolidated financial statements of the Company prepared in accordance with GAAP,
provided, however, that all of the following shall be excluded in the calculation of Net Working Capital: (a) current assets or liabilities relating to the mark-to-market value of Interest Rate Agreements and hedging
arrangements constituting Permitted Debt, (b) any current assets or liabilities relating to non-cash charges arising from any grant of Capital Stock, options to acquire Capital Stock, or other equity based awards, and (c) any
current assets or liabilities relating to non-cash charges or accruals for future abandonment liabilities. 

  
 15 

 “Non-U.S. Person” means a Person that is not a U.S. person, as defined in
Regulation S. 
 “Notes” has the meaning assigned to such term in the Recitals. 

“Note Guarantee” means the guarantee of the Notes by a Guarantor pursuant to this Indenture. 

“Offer to Purchase” has the meaning assigned to such term in Section 3.04. 

“Offering Memorandum” means the offering memorandum, dated April 2, 2012, relating to the issuance of the
Company’s 8.125% Senior Notes due 2022. 
 “Officer” means the chairman of the Board of Directors, the
president or chief executive officer, any vice president, the chief financial officer, the treasurer or any assistant treasurer, or the secretary or any assistant secretary, of the Company. 

“Officers’ Certificate” means a certificate signed in the name of the Company (i) by the chairman of the
Board of Directors, the president or chief executive officer or a vice president and (ii) by the chief financial officer, the treasurer or any assistant treasurer or the secretary or any assistant secretary. 

“Offshore Global Note” means a Global Note representing Notes issued and sold pursuant to Regulation S. 

“OID Legend” means the legend set forth in Exhibit H. 

“Oil and Gas Business” means the business of exploiting, exploring for, developing, acquiring, operating, producing,
processing, gathering, marketing, storing, selling, hedging, treating, swapping, refining and transporting hydrocarbons and carbon dioxide and other related energy businesses, including contract drilling and other oilfield services. 

“Oil and Gas Liens” means (i) Liens on any specific property or any interest therein, construction thereon or
improvement thereto to secure all or any part of the costs incurred for surveying, exploration, drilling, extraction, development, operation, production, construction, alteration, repair or improvement of, in, under or on such property and the
plugging and abandonment of wells located thereon (it being understood that, in the case of oil and gas producing properties, or any interest therein, costs incurred for “development” shall include costs incurred for all facilities
relating to such properties or to projects, ventures or other arrangements of which such properties form a part or which relate to such properties or interests); (ii) Liens on an oil or gas producing property to secure obligations incurred or
guarantees of obligations incurred in connection with or necessarily incidental to commitments for the purchase or sale of, or the transportation or distribution of, the products derived from such property; (iii) Liens arising under partnership
agreements, oil and gas leases, overriding royalty agreements, net profits agreements, production payment agreements, royalty trust agreements, incentive compensation programs for geologists, geophysicists and other providers of technical services
to the Company or a Restricted Subsidiary, master limited partnership agreements, farm-out agreements, farm-in agreements, division orders, contracts for the sale, purchase, exchange, transportation, gathering or processing of oil, gas or other
hydrocarbons, unitizations and pooling designations, declarations, orders and agreements, development agreements, operating agreements, production sales contracts, area of mutual interest agreements, gas balancing or deferred production agreements,
injection, repressuring and recycling agreements, salt water or other disposal agreements, seismic or geophysical permits or agreements, and other agreements which are customary in the Oil and Gas Business; provided, however, in
all instances that such Liens are limited to the assets that are the subject of the relevant agreement, program, order or contract; (iv) Liens arising in connection with Production Payments and Reserve Sales; provided that
such Liens are limited to the property that is subject to such Production Payments and Reserve Sales, and such Production Payments and Reserve Sales either (a) were created in connection with the acquisition or financing of the property
and were incurred within 90 days after the acquisition of the property subject thereto, or (b) constitute Asset Sales made in compliance with Section 4.14; and (v) Liens on pipelines or pipeline facilities that arise by operation
of law. 

  
 16 

 “open of business” means 9:00 a.m., New York City time. 

“Opinion of Counsel” means a written opinion signed by legal counsel, who may be an employee of or counsel to the
Company, satisfactory to the Trustee. 
 “Original Issue Date” means April 17, 2012. 

“Pari Passu Indebtedness” means any Indebtedness of the Company or a Guarantor that is pari passu in right of payment
to the Notes or Note Guarantee, as the case may be. 
 “Paying Agent” refers to a Person engaged to perform
the obligations of the Trustee in respect of payments made or funds held hereunder in respect of the Notes. 

“Permitted Business Investments” means Investments and expenditures made in the ordinary course of, and of a nature
that is or shall have become customary in, the Oil and Gas Business as a means of actively engaging therein through agreements, transactions, interests or arrangements which permit one to share risks or costs, comply with regulatory requirements
regarding local ownership or satisfy other objectives customarily achieved through the conduct of Oil and Gas Business jointly with third parties, including (i) ownership interests in oil and gas properties or gathering, transportation,
processing, storage or related systems and (ii) Investments and expenditures in the form of or pursuant to operating agreements, processing agreements, farm-in agreements, farm-out agreements, development agreements, area of mutual interest
agreements, unitization agreements, pooling arrangements, joint bidding agreements, service contracts, joint venture agreements, partnership agreements (whether general or limited) and other similar agreements (including for limited liability
companies) with third parties. 
 “Permitted Debt” has the meaning assigned to such term in Section 4.06.

 “Permitted Investments” mean: 

(1) Investments in the Company or any Restricted Subsidiary or any Person which, as a result of such Investment,
(a) becomes a Restricted Subsidiary or (b) is merged or consolidated with or into, or transfers or conveys substantially all of its assets to, or is liquidated into, the Company or any Restricted Subsidiary; 

(2) Indebtedness of the Company or a Restricted Subsidiary described under clauses (4), (5), (6) and (10) of the
definition of “Permitted Debt”; 
 (3) Investments in the Notes; 

(4) Cash Equivalents; 

(5) Investments in property, plant and equipment used in the ordinary course of business and Permitted Business Investments;

 (6) Investments acquired by the Company or any Restricted Subsidiary in connection with an Asset Sale permitted under
Section 4.14 to the extent such Investments are non-cash proceeds as permitted under such covenant; 
 (7) Investments
in existence on the Original Issue Date; 
 (8) Investments acquired in exchange for the issuance of Capital Stock of the
Company (other than Disqualified Stock of the Company or a Restricted Subsidiary or Preferred Stock of a Restricted Subsidiary); 

  
 17 

 (9) Investments in prepaid expenses, negotiable instruments held for collection
and lease, utility and worker’s compensation, performance and other similar deposits provided to third parties in the ordinary course of business; 

(10) loans or advances to employees of the Company and its Restricted Subsidiaries in the ordinary course of business for bona
fide business purposes of the Company and its Restricted Subsidiaries (including travel, entertainment and relocation expenses) in the aggregate amount outstanding at any one time of not more than $2,000,000; 

(11) any Investments received in good faith in settlement or compromise of receivables or other obligations that were obtained
in the ordinary course of business, including in settlement of litigation, arbitration or other disputes or pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade creditor or customer; 

(12) other Investments in the aggregate amount outstanding at any one time of up to the greater of (x) $25,000,000 and
(y) 5.0% of Adjusted Consolidated Net Tangible Assets; and 
 (13) Guarantees received with respect to any Permitted
Investment listed above. 
 Investments permitted by this definition need not be permitted solely by reference to one clause of this
definition but may be permitted in part by one such clause and in part by one or more other clauses of this definition. In connection with any assets or property contributed or transferred to any Person as an Investment, the value of such property
and assets shall be equal to the Fair Market Value at the time of Investment, without regard to subsequent changes in value. 

“Permitted Liens” means 

(1) any Lien existing on the Original Issue Date securing Indebtedness or obligations existing on the Original Issue Date and
not otherwise referred to in this definition; 
 (2) any Lien with respect to the Senior Credit Facility (including with
respect to any Guarantee thereof made by any Guarantor) or any successor Credit Facilities securing Indebtedness incurred thereunder that could be borrowed under Section 4.06; 

(3) any Lien in favor of the Company or a Restricted Subsidiary; 

(4) any Lien arising by reason of: 

(A) any judgment, decree or order of any court, so long as such Lien is adequately bonded and any appropriate legal proceedings
which may have been duly initiated for the review of such judgment, decree or order shall not have been finally terminated or the period within which such proceedings may be initiated shall not have expired; 

(B) taxes, assessments or governmental charges or claims that are not yet delinquent or which are being contested in good faith
by appropriate proceedings promptly instituted and diligently conducted, provided that any reserve or other appropriate provision as will be required in conformity with GAAP will have been made therefor; 

(C) security made in the ordinary course of business in connection with workers’ compensation, unemployment insurance or
other types of social security; 
 (D) good faith deposits in connection with tenders, leases and contracts (other than
contracts for the payment of Indebtedness); 

  
 18 

 (E) zoning restrictions, easements, licenses, reservations, title defects, rights
of others for rights of way, utilities, sewers, electric lines, telephone or telegraph lines, and other similar purposes, provisions, covenants, conditions, waivers, restrictions on the use of property or minor irregularities of title (and with
respect to leasehold interests, mortgages, obligations, Liens and other encumbrances incurred, created, assumed or permitted to exist and arising by, through or under a landlord or owner of the leased property, with or without consent of the
lessee), none of which materially impairs the use of any parcel of property material to the operation of the business of the Company or any Restricted Subsidiary or the value of such property for the purpose of such business; 

(F) deposits to secure public or statutory obligations, or in lieu of surety or appeal bonds; 

(G) operation of law or contract in favor of mechanics, carriers, warehousemen, landlords, materialmen, laborers, employees,
suppliers and similar persons, incurred in the ordinary course of business for sums which are not yet delinquent or are being contested in good faith by negotiations or by appropriate proceedings which suspend the collection thereof; 

(H) normal depository arrangements with banks; 

(5) any Lien securing Acquired Debt created prior to (and not created in connection with, or in contemplation of) the
incurrence of such Indebtedness by the Company or any Restricted Subsidiary; provided that such Lien only secures the assets acquired in connection with the transaction pursuant to which the Acquired Debt became an obligation of the Company
or a Restricted Subsidiary; 
 (6) any Lien to secure performance bids, leases (including, without limitation, statutory and
common law landlord’s liens), statutory obligations, letters of credit and other obligations of a like nature and incurred in the ordinary course of business of the Company or any Subsidiary and not securing or supporting Indebtedness, and any
Lien to secure statutory or appeal bonds; 
 (7) any Lien securing Indebtedness permitted to be incurred pursuant to clause
(6) or clause (8) of the definition of Permitted Debt, so long as none of such Indebtedness constitutes debt for borrowed money; 

(8) any Lien securing Capital Lease Obligations or Purchase Money Obligations incurred in accordance with clause (7) of
the definition of Permitted Debt and which are incurred or assumed solely in connection with the acquisition, development or construction of real or personal, moveable or immovable property commencing within 90 days of such incurrence or assumption;
provided that such Liens only extend to such acquired, developed or constructed property, such Liens secure Indebtedness in an amount not in excess of the original purchase price or the original cost of any such assets or repair, addition or
improvement thereto, and the incurrence of such Indebtedness is permitted by Section 4.06; 
 (9) leases and subleases of
real property which do not materially interfere with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries; 

(10) (A) Liens on property, assets or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary
or is merged with or into or consolidated with the Company or any of its Restricted Subsidiaries; provided, however, that such Liens are not created, incurred or assumed in connection with, or in contemplation of, such other Person becoming a
Restricted Subsidiary or such merger or consolidation; provided, further, that any such Lien may not extend to any other property owned by the Company or any Restricted Subsidiary and assets fixed or appurtenant thereto; and (B) Liens on
property, assets or shares of capital stock existing at the time of acquisition thereof by the Company or any of its Restricted Subsidiaries; provided, however, that such Liens are not created, incurred or assumed in connection with, or in
contemplation of, such acquisition and do not extend to any property other than the property so acquired; 
 (11) Oil and Gas
Liens, in each case which are not incurred in connection with the borrowing of money by the Company or any Restricted Subsidiary; 

  
 19 

 (12) Liens arising under this Indenture in favor of the Trustee for its own
benefit and similar Liens in favor of other trustees, agents and representatives arising under instruments governing Indebtedness permitted to be incurred under this Indenture, provided, however, that such Liens are solely for the benefit of
the trustees, agents or representatives in their capacities as such and not for the benefit of the holders of the Indebtedness; 

(13) Liens (including put and call arrangements) on Capital Stock of (A) any Unrestricted Subsidiary that secure
Indebtedness of such Unrestricted Subsidiary or (B) any other Person (including a joint venture) in which the Company or any Restricted Subsidiary owns any Capital Stock that is not a Restricted Subsidiary that secure Indebtedness of such other
Person; 
 (14) any extension, renewal, refinancing or replacement, in whole or in part, of any Lien described in the
foregoing clauses (1) through (13) so long as no additional collateral is granted as security thereby; and 
 (15)
in addition to the items referred to in clauses (1) through (14) above, Liens of the Company and its Restricted Subsidiaries to secure Indebtedness in an aggregate amount at any time outstanding which does not exceed 5.0% of Adjusted
Consolidated Net Tangible Assets as most recently determined at such time. 
 If a Lien meets the criteria of more than one of the
categories of Permitted Liens described in clauses (1) through (15) of this definition, the Company may classify, or later reclassify, such Lien in whole or in part in any manner that complies with this definition, including by allocation
to more than one other type of Permitted Lien. 
 “Permitted MLP Securities” means equity securities (including
incentive distribution rights) of a master limited partnership (or limited liability company or similar business entity with pass-through treatment for U.S. Federal income tax purposes) that has a class of equity securities traded on the New York
Stock Exchange, the NYSE AMEX Equities or the Nasdaq Stock Market (or any successor thereof), provided that such master limited partnership (or other entity) is an Affiliate of the Company. 

“Permitted Payment” has the meaning assigned to such term in Section 4.07(b). 

“Permitted Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries
issued in exchange for, or the net proceeds of which are used to renew, extend, substitute, defease, refund, refinance or replace (“refinance”) other Indebtedness of the Company or any of its Restricted Subsidiaries (other than
intercompany Indebtedness); provided that: 
 (1) the principal amount (or accreted value, if
applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness being refinanced (plus all accrued interest on the Indebtedness and the amount of all fees and
expenses, including premiums, incurred in connection therewith); 
 (2) such Permitted Refinancing Indebtedness has a final
maturity date later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being refinanced; 

(3) if the Indebtedness being refinanced is subordinated in right of payment to the Notes or the Note Guarantees, such
Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes or the Note Guarantees, as the case may be, on terms at least as favorable to the Holders as those contained in the documentation governing the Indebtedness being
refinanced; and 
 (4) such Indebtedness is incurred by either (i) the Company or (ii) the Restricted Subsidiary
that is the obligor on the Indebtedness refinanced. 

  
 20 

 Notwithstanding the preceding, any Indebtedness incurred under a Credit Facility pursuant to
Section 4.06 shall be subject only to the refinancing provision in the definition of Credit Facility in this Section 1.01 and not pursuant to the requirements set forth in this definition of Permitted Refinancing Indebtedness. 

“Person” means an individual, a corporation, a partnership, a limited liability company, an association, a trust or
any other entity, including a government or political subdivision or an agency or instrumentality thereof. 

“Preferred Stock” means, with respect to any Person, any Capital Stock of any class or classes (however designated)
which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over the Capital Stock of any other class in such Person.

 “principal” of any Indebtedness means the principal amount of such Indebtedness, (or if such Indebtedness was
issued with original issue discount, the face amount of such Indebtedness less the remaining unamortized portion of the original issue discount of such Indebtedness), together with, unless the context otherwise indicates, any premium then payable on
such Indebtedness. 
 “Prior Issue Date” means May 20, 2008, the date of the issue of the Prior
Notes. 
 “Prior Notes” means the Company’s $750,000,000 principal amount of its 8% Senior Notes due
2018. 
 “Production Payments” means, collectively, Dollar-Denominated Production Payments and Volumetric
Production Payments. 
 “Production Payments and Reserve Sales” means the grant or transfer by the Company or
a Restricted Subsidiary to any Person of a royalty, overriding royalty, net profits interest, Production Payment, partnership or other interest in oil and gas properties, reserves or the right to receive all or a portion of the production or the
proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such properties, production or proceeds of production, subject to the obligation of the grantor or transferor to operate
and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters
customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists and other providers of
technical services to the Company or a Restricted Subsidiary. 
 “Property” means, with respect to any
Person, any interest of such Person in any kind of property or asset, whether real, personal or mixed, or tangible or intangible, including Capital Stock and other securities issued by any other Person (but excluding Capital Stock or other
securities issued by such first mentioned Person). 
 “Purchase Money Obligation” means any Indebtedness
secured by a Lien on assets related to the business of the Company or any Restricted Subsidiary which are purchased or constructed by the Company or such Restricted Subsidiary at any time after the Original Issue Date; provided
that 
 (1) the security agreement or conditional sales or other title retention contract pursuant to which the
Lien on such assets is created (collectively a “Purchase Money Security Agreement”) shall be entered into within 90 days after the purchase or substantial completion of the construction of such assets and shall at all times be
confined solely to the assets so purchased or acquired (together with any additions, accessions, and other related assets referred to in the last sentence of the above definition of “Liens”), 

(2) at no time shall the aggregate principal amount of the outstanding Indebtedness secured thereby be increased, except in
connection with the purchase of additions, improvements, and accessions thereto and except in respect of fees and other obligations in respect of such Indebtedness, and 

(3) (A) the aggregate outstanding principal amount of Indebtedness secured thereby (determined on a per asset basis in the
case of any additions, improvements and accessions) shall not at the time such 

  
 21 

 
Purchase Money Security Agreement is entered into exceed 100% of the purchase price to the Company or the applicable Restricted Subsidiary of the assets subject thereto or (B) the
Indebtedness secured thereby shall be with recourse solely to the assets so purchased or acquired subject to the last sentence of the above definition of “Liens”). 

“Qualified Capital Stock” of any Person means any and all Capital Stock of such Person other than Disqualified
Stock. 
 “record date” means, for purposes of Section 10.06, with respect to any dividend, distribution
or other transaction or event in which the holders of Common Stock (or other security) have the right to receive any cash, securities or other property or in which Common Stock (or other applicable security) is exchanged for or converted into any
combination of cash, securities or other property, the date fixed for determination of holders of Common Stock (or other security) entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or
by statute, contract or otherwise). 
 “Reference Property” has the meaning set forth in Section 10.12.

 “Register” has the meaning assigned to such term in Section 2.09. 

“Registrar” means a Person engaged to maintain the Register. 

“Regular Record Date” means, in respect of any Interest Payment Date, the April 1 or October 1 (whether or
not a Business Day) immediately preceding such Interest Payment Date. 
 “Regulation S” means Regulation S
under the Securities Act. 
 “Regulation S Certificate” means a certificate substantially in the form of
Exhibit E hereto. 
 “Reporting Default” means a Default of the Company’s obligations under Section
4.20. 
 “Resale Restriction Termination Date” means the later of (i) the date that is one year after
the last date of original issuance of the applicable Note, or such shorter period of time as permitted by Rule 144 under the Securities Act or any successor provision thereto, and (ii) such later date, if any, as may be required by applicable
law. 
 “Restricted Legend” means the legend set forth in Exhibit C-1. 

“Restricted Payment” has the meaning assigned to such term in Section 4.07. 

“Restricted Period” means the relevant 40-day distribution compliance period as defined in Regulation S. 

“Restricted Subsidiary” of a Person means any Subsidiary of that Person that is not an Unrestricted Subsidiary.

 “Revocation” has the meaning assigned to such term in Section 4.18. 

“Rule 144A” means Rule 144A under the Securities Act. 

“Rule 144A Certificate” means (i) a certificate substantially in the form of Exhibit F hereto or (ii) a
written certification addressed to the Company and the Trustee to the effect that the Person making such certification (x) is acquiring the applicable Note (or beneficial interest) for its own account or one or more accounts with respect to
which it exercises sole investment discretion and that it and each such account is a qualified institutional buyer within the meaning of Rule 144A, (y) is aware that the transfer to it or exchange, as applicable, is being made in reliance upon
the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A, and (z) acknowledges that it has received such information regarding the Company as it has requested pursuant to Rule 144A(d)(4) or has determined
not to request such information. 

  
 22 

 “S&P” means Standard & Poor’s Ratings Services, a
division of The McGraw-Hill Companies, Inc., and any successor thereto. 
 “Sale Leaseback Transaction”
means, with respect to the Company or any of its Restricted Subsidiaries, any arrangement with any Person providing for the leasing by the Company or any of its Restricted Subsidiaries of any real property or equipment, acquired or placed into
service more than 180 days prior to such arrangement, whereby such property has been or is to be sold or transferred by the Company or any of its Restricted Subsidiaries to such Person. 

“SEC” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act,
or if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Securities Act and the Exchange Act then the body performing such duties as such time.  

“Securities Act” means the Securities Act of 1933. 

“Senior Credit Facility” means that certain Fourth Amended and Restated Credit Agreement dated as of June 10,
2015, by and among SandRidge Energy, Inc., Royal Bank of Canada, as Administrative Agent, Swing Line Lender and L/C Issuer, and the other lenders party thereto, as such agreement, in whole or in part, in one or more instances, may be amended,
restated, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified from time to time (including, without limitation, any successive amendments, restatements, renewals, extensions, substitutions,
refinancings, restructurings, replacements, supplementations or other modifications of the foregoing). 
 “Significant
Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC as in effect on the Issue Date. 

“Stated Maturity” means (i) with respect to any Indebtedness, the date specified as the fixed date on which the
final installment of principal of such Indebtedness is due and payable or (ii) with respect to any scheduled installment of principal of or interest on any Indebtedness, the date specified as the fixed date on which such installment is due and
payable as set forth in the documentation governing such Indebtedness, not including any contingent obligation to repay, redeem or repurchase prior to the regularly scheduled date for payment. 

“Subordinated Indebtedness” means any Indebtedness of the Company or any Guarantor which is subordinated in right of
payment to the Notes or the Note Guarantee, as the case may be. 
 “Subsidiary” of a Person means:

 (1) any corporation more than 50% of the outstanding voting power of the Voting Stock of which is owned or controlled,
directly or indirectly, by such Person or by one or more other Subsidiaries of such Person, or by such Person and one or more other Subsidiaries thereof, or 

(2) any limited partnership of which such Person or any Subsidiary of such Person is a general partner, or 

(3) any other Person in which such Person, or one or more other Subsidiaries of such Person, or such Person and one or more
other Subsidiaries, directly or indirectly, has more than 50% of the outstanding Capital Stock or has the power, by contract or otherwise, to direct or cause the direction of the policies, management and affairs thereof. 

Unless otherwise specified, “Subsidiary” means a Subsidiary of the Company. 

“Successor Parent” with respect to any Person means any other Person more than 50% of the total outstanding Voting
Stock of which (measured by voting power rather than number of shares) is, at the time the first  

  
 23 

 
Person becomes a Subsidiary of such other Person, “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a Person shall be deemed to have
beneficial ownership of all shares that such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time) by one or more Persons that “beneficially owned” (as defined in Rules 13d-3 and
13d-5 under the Exchange Act, except that a Person shall be deemed to have beneficial ownership of all shares that such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time) more than 50%
of the total outstanding Voting Stock of the first Person (measured by voting power rather than number of shares) immediately prior to the first Person becoming a Subsidiary of such other Person. 

“Supplemental Indenture” means a supplemental indenture substantially in the form of Exhibit B hereto. 

“Surviving Entity” has the meaning specified in Section 5.01. 

“Surviving Guarantor Entity” has the meaning specified in Section 5.02. 

“Suspended Covenants” has the meaning assigned to such term in Section 4.22. 

“Suspension Period” has the meaning assigned to such term in Section 4.22. 

“Threshold Price” means, on any Trading Day, a price equal to (i) the Conversion Price in effect on such Trading
Day multiplied by (ii) 0.4, rounded to the nearest whole cent. 
 “Trade Accounts Payable” of any Person
means accounts payable or other obligations of that Person or any Restricted Subsidiary to trade creditors created or assumed by the Person or such Restricted Subsidiary in the ordinary course of business in connection with the obtaining of goods or
services. 
 “Trading Day” means a day on which: 

(i) trading in the Common Stock (or other security for which a VWAP must be determined) generally occurs on The New York Stock Exchange or, if
the Common Stock (or such other security) is not then listed on The New York Stock Exchange, on the principal other U.S. national or regional securities exchange on which the Common Stock (or other such security) is then listed or, if the Common
Stock (or such other security) is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock (or such other security) is then traded; and 

(ii) a VWAP for the Common Stock is available on such securities exchange or market; 

provided that if the Common Stock (or other security for which a VWAP must be determined) is not so listed or traded, “Trading Day” means a
Business Day. 
 “Trustee” means the party named as such in the first paragraph of this Indenture or any
successor trustee under this Indenture pursuant to Article 7. 
 “Trust Indenture Act” means the Trust
Indenture Act of 1939. 
 “U.S. Global Note” means a Global Note that bears the Restricted Legend
representing Notes issued and sold pursuant to Rule 144A. 
 “U.S. Government Obligations” means obligations
issued or directly and fully guaranteed or insured by the United States of America or by any agent or instrumentality thereof, provided that the full faith and credit of the United States of America is pledged in support
thereof. 
 “Unrestricted Subsidiary” means any Subsidiary of the Company that at the time of determination
has previously been designated, and continues to be, an Unrestricted Subsidiary in accordance with Section 4.18 and any Subsidiary thereof. 

  
 24 

 “Unrestricted Subsidiary Indebtedness” of any Unrestricted Subsidiary
means Indebtedness of such Unrestricted Subsidiary: 
 (1) as to which neither the Company nor any Restricted
Subsidiary is directly or indirectly liable (by virtue of the Company or any such Restricted Subsidiary being the primary obligor on, guarantor of, or otherwise liable in any respect to, such Indebtedness), except Guaranteed Debt of the Company or
any Restricted Subsidiary to any Affiliate of the Company, in which case (unless the incurrence of such Guaranteed Debt resulted in a Restricted Payment at the time of incurrence) the Company shall be deemed to have made a Restricted Payment equal
to the principal amount of any such Indebtedness to the extent guaranteed at the time such Affiliate is designated an Unrestricted Subsidiary and 

(2) which, upon the occurrence of a default with respect thereto, does not result in, or permit any holder of any Indebtedness
of the Company or any Restricted Subsidiary to declare, a default on such Indebtedness of the Company or any Restricted Subsidiary or cause the payment thereof to be accelerated or payable prior to its Stated Maturity; 

provided that notwithstanding the foregoing, any Unrestricted Subsidiary may Guarantee the Notes or any Credit Facility. 

“Volumetric Production Payment” means a production payment that is recorded as a sale in accordance with GAAP, whether
or not the sale price must be recorded as deferred revenue, together with all undertakings and obligations in connection therewith. 

“Voting Stock” of a Person means Capital Stock of such Person of the class or classes pursuant to which the holders
thereof have the general voting power under ordinary circumstances to elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time Capital Stock of any other class or classes
shall have or might have voting power by reason of the happening of any contingency). 
 “VWAP” per share of
Common Stock on any Trading Day means the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “SD <equity> AQR” (or its equivalent successor if such page is not
available) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day, or if such volume-weighted average price is not available, the closing sale price of the
Common Stock (or other security for which a price is determined) on such date on the principal national or regional securities exchange or quotation market on which the Common Stock or such other security is traded or quoted, or if such closing sale
price is unavailable, the market value of one share of Common Stock or such other security on such Trading Day determined by a nationally recognized independent investment banking firm retained for this purpose by the Company. 

“VWAP Condition” shall have the meaning set forth in Section 10.01(b). 

“Weighted Average Life to Maturity” means, as of the date of determination with respect to any Indebtedness, the
quotient obtained by dividing (1) the sum of the products of (a) the number of years from the date of determination to the date or dates of each successive scheduled principal payment and (b) the amount of each such principal payment
by (2) the sum of all such principal payments. 
 Section 1.02. Rules of Construction. 

(a) Unless the context otherwise requires or except as otherwise expressly provided, 

(1) the definitions of terms herein shall apply equally to the singular and plural forms of the terms defined; 

(2) whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms; 

  
 25 

 (3) the words “include,” “includes” and “including”
shall be deemed to be followed by the phrase “without limitation,” unless such phrase is already present in the text; 

(4) the word “will” shall be construed to have the same meaning and effect as the word “shall”; 

(5) any reference herein to any Person shall be construed to include such Person’s successors and assigns; 

(6) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to
any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights; 
 (7)
an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
 (8) “herein,”
“hereof” and other words of similar import refer to this Indenture as a whole and not to any particular Section, Article or other subdivision; 

(9) all references to Sections or Articles or Exhibits refer to Sections or Articles or Exhibits of or to this Indenture unless
otherwise indicated; 
 (10) references to agreements or instruments, or to statutes or regulations, are to such agreements
or instruments, or statutes or regulations, as amended from time to time (or to successor statutes and regulations); and 

(11) in the event that a transaction meets the criteria of more than one category of permitted transactions or listed
exceptions the Company may classify such transaction as it, in its sole discretion, determines. 
 (b) In the computation of periods of time
from a specified date to a later specified date, the word “from” means “from and including”; the words “to” and “until” each mean “to but excluding”; and the word “through” means “to
and including.” 
 (c) As used herein, the term “proved reserves” has the meaning given such term from time to time and at
the time in question by the Society of Petroleum Engineers of the American Institute of Mining Engineers. 
 (d) Any financial ratios
required to be calculated pursuant to this Indenture shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and
rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 ARTICLE 2 

THE NOTES 

Section 2.01. Form, Dating and Denominations; Legends. 

(a) The Notes and the Trustee’s certificate of authentication will be substantially in the form attached as Exhibit A. The terms and
provisions contained in the forms of the Notes annexed as Exhibit A constitute, and are hereby expressly made, a part of this Indenture. The Notes may have notations, legends or endorsements required by law, rules of or agreements with national
securities exchanges to which the Company is subject, or usage. Each Note will be dated the date of its authentication. The Notes will be issuable in denominations of $1,000 in principal amount and any multiple of $1,000 in excess thereof. 

  
 26 

 (b) (1) The Initial Notes shall not be required to bear the Restricted Legend. Except as
otherwise provided in paragraph (c), Section 2.10(b)(3), (b)(5), or (c) or Section 2.09(b)(4), or as otherwise determined by the Company, each Additional Note will bear the Restricted Legend. 

(2) Each Global Note, whether or not an Initial Note or Additional Note, will bear the DTC Legend. 

(3) Initial Notes will be issued in the form of Global Notes only, except as provided in Section 2.09(b)(4). 

(4) To the extent applicable, the Initial Notes and Additional Notes will bear the OID Legend. 

(c) (1) If the Company determines (upon the advice of counsel and such other certifications and evidence as the Company may reasonably
require) that a Note bearing a Restricted Legend is eligible for resale pursuant to Rule 144(d) under the Securities Act (or a successor provision) and that the Restricted Legend is no longer necessary or appropriate in order to ensure that
subsequent transfers of the Note (or a beneficial interest therein) are effected in compliance with the Securities Act, or 

(2) after any Note bearing the Restricted Legend is sold pursuant to an effective registration statement under the Securities
Act, 
 the Company may instruct the Trustee to cancel the Note and issue to the Holder thereof (or to its transferee) a new Note of like tenor and amount,
registered in the name of the Holder thereof (or its transferee), that does not bear the Restricted Legend, and the Trustee will comply with such instruction. 

(d) By its acceptance of any Note bearing the Restricted Legend (or any beneficial interest in such a Note), each Holder thereof and each
owner of a beneficial interest therein acknowledges the restrictions on transfer of such Note (and any such beneficial interest) set forth in this Indenture and in the Restricted Legend and agrees that it will transfer such Note (and any such
beneficial interest) only in accordance with this Indenture and such legend. 
 Section 2.02. Execution and Authentication;
Additional Notes. 
 (a) An Officer shall execute the Notes for the Company by facsimile or manual signature in the name and on behalf
of the Company. If an Officer whose signature is on a Note no longer holds that office at the time the Note is authenticated, the Note will still be valid. 

(b) A Note will not be valid until the Trustee manually signs the certificate of authentication on the Note, with the signature conclusive
evidence that the Note has been authenticated under this Indenture. 
 (c) At any time and from time to time after the execution and
delivery of this Indenture, the Company may deliver Notes executed by the Company to the Trustee for authentication. The Trustee will authenticate and deliver 

(i) Initial Notes for original issue in the aggregate principal amount not to exceed $158,379,000, and 

(ii) Additional Notes from time to time for original issue in aggregate principal amounts specified, 

after the following conditions have been met: 

(1) Receipt by the Trustee of an Officers’ Certificate specifying 

  
 27 

 (A) the amount of Notes to be authenticated and the date on which the Notes are
to be authenticated, 
 (B) whether the Notes are to be Initial Notes or Additional Notes, 

(C) in the case of Additional Notes, that the issuance of such Notes does not contravene any provision of Article 4, and that
if any such Additional Notes are not fungible with the Initial Notes issued on the Issue Date for U.S. federal income tax or securities law purposes, such Additional Notes shall have a separate CUSIP number, 

(D) whether the Notes are to be issued as one or more Global Notes or Certificated Notes, 

(E) whether the certificates representing such Notes shall bear a Restricted Legend; and 

(F) other information the Company may determine to include or the Trustee may reasonably request. 

Section 2.03. Registrar, Paying Agent, Authenticating Agent and Conversion Agent; Paying Agent to Hold Money in Trust. 

(a) The Company may appoint one or more Registrars, one or more Paying Agents and one or more Conversion Agents, and the Trustee may appoint
an Authenticating Agent, in which case each reference in this Indenture to the Trustee in respect of the obligations of the Trustee to be performed by that Agent will be deemed to be references to the Agent. The Company may act as Registrar or
(except for purposes of Article 8) Paying Agent. In each case the Company and the Trustee will enter into an appropriate agreement with the Agent implementing the provisions of this Indenture relating to the obligations of the Trustee to be
performed by the Agent and the related rights. The Company initially appoints the Trustee as Registrar, Paying Agent and Conversion Agent. 

(b) The Company will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the
benefit of the Holders or the Trustee all money held by the Paying Agent for the payment of principal of and interest on the Notes and will promptly notify the Trustee of any default by the Company in making any such payment. The Company at any time
may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may at any time during the continuance of any payment default, upon written request to a Paying Agent, require the Paying
Agent to pay all money held by it to the Trustee and to account for any funds disbursed. Upon doing so, the Paying Agent will have no further liability for the money so paid over to the Trustee. 

Section 2.04. Replacement Notes. If a mutilated Note is surrendered to the Trustee or if a Holder claims that its Note has been
lost, destroyed or wrongfully taken, the Company will issue and the Trustee will authenticate a replacement Note of like terms, tenor and principal amount and bearing a number not contemporaneously outstanding. Every replacement Note is an
additional obligation of the Company and entitled to the benefits of this Indenture. If required by the Trustee or the Company, an indemnity must be furnished that is sufficient in the judgment of both the Trustee and the Company to protect the
Company and the Trustee from any loss they may suffer if a Note is replaced. The Company may charge the Holder for the expenses of the Company and the Trustee in replacing a Note. In case the mutilated, lost, destroyed or wrongfully taken Note has
become or is about to become due and payable, the Company in its discretion may pay the Note instead of issuing a replacement Note. 

Section 2.05. Outstanding Notes. 

(a) Notes outstanding at any time are all Notes that have been authenticated by the Trustee except for 

  
 28 

 (1) Notes that have been converted, cancelled by the Trustee or delivered to it
for cancellation; 
 (2) any Note which has been replaced pursuant to Section 2.04 unless and until the Trustee and the
Company receive proof satisfactory to them that the replaced Note is held by a “protected purchaser” (as defined in the Uniform Commercial Code as in effect in the State of New York); and 

(3) on or after the maturity date or any redemption date or date for purchase of any Notes pursuant to an Offer to Purchase,
those Notes payable or to be redeemed or purchased on that date for which the Trustee (or Paying Agent, other than the Company or an Affiliate of the Company) holds money sufficient to pay all amounts then due. 

(b) A Note does not cease to be outstanding because the Company or one of its Affiliates holds the Note, provided that in
determining whether the Holders of the requisite principal amount of the outstanding Notes have given or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder, Notes owned by the Company or any
Affiliate of the Company will be disregarded and deemed not to be outstanding, (it being understood that in determining whether the Trustee is protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or
other action, only Notes which the Trustee knows to be so owned will be so disregarded). Notes so owned which have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to such Notes and that the pledgee is not the Company or any Affiliate of the Company. 

Section 2.06. Temporary Notes. Until definitive Notes are ready for delivery, the Company may prepare and the Trustee will
authenticate temporary Notes. Temporary Notes will be substantially in the form of definitive Notes but may have insertions, substitutions, omissions and other variations determined to be appropriate by the Officer executing the temporary Notes, as
evidenced by the execution of the temporary Notes. If temporary Notes are issued, the Company will cause definitive Notes to be prepared without unreasonable delay. After the preparation of definitive Notes, the temporary Notes will be exchangeable
for definitive Notes upon surrender of the temporary Notes at the office or agency of the Company designated for the purpose pursuant to Section 4.02, without charge to the Holder. Upon surrender for cancellation of any temporary Notes the
Company will execute and the Trustee will authenticate and deliver in exchange therefor a like principal amount of definitive Notes of authorized denominations and like terms and tenor. Until so exchanged, the temporary Notes will be entitled to the
same benefits under this Indenture as definitive Notes. 
 Section 2.07. Cancellation. The Company at any time may deliver to
the Trustee for cancellation any Notes previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee for cancellation any Notes previously authenticated hereunder which
the Company has not issued and sold. Any Registrar, the Paying Agent or Conversion Agent will forward to the Trustee any Notes surrendered to it for transfer, exchange, payment or conversion. The Trustee will cancel all Notes surrendered for
transfer, exchange, payment, cancellation or conversion and dispose of them in accordance with its normal procedures or the written instructions of the Company. The Company may not issue new Notes to replace Notes it has paid in full or delivered to
the Trustee for cancellation. 
 Section 2.08. CUSIP and ISIN Numbers. The Company in issuing the Notes may use
“CUSIP” and “ISIN” numbers, and the Trustee will use CUSIP numbers or ISIN numbers in notices of redemption or exchange or in Offers to Purchase as a convenience to Holders, the notice to state that no representation is made as
to the correctness of such numbers either as printed on the Notes or as contained in any notice of redemption or exchange or Offer to Purchase. The Company will promptly notify the Trustee of any change in the CUSIP or ISIN numbers. 

Section 2.09. Registration, Transfer and Exchange. 

(a) The Notes will be issued in registered form only, without coupons, and the Company shall cause the Trustee to maintain a register (the
“Register”) of the Notes, for registering the record ownership of the Notes by the Holders and transfers and exchanges of the Notes. 

  
 29 

 (b) (1) Each Global Note will be registered in the name of the Depositary or its nominee and, so
long as DTC is serving as the Depositary thereof, will bear the DTC Legend. 
 (2) Each Global Note will be delivered to the
Trustee as custodian for the Depositary. Transfers of a Global Note (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the Depositary, its successors or their respective nominees, except
(1) as set forth in Section 2.09(b)(4) and (2) if approved by the Company in its reasonable discretion, transfers of portions thereof in the form of Certificated Notes may be made upon request of an Agent Member (for itself or on
behalf of a beneficial owner) by written notice given to the Trustee by or on behalf of the Depositary in accordance with customary procedures of the Depositary and in compliance with this Section and Section 2.10. 

(3) Agent Members will have no rights under this Indenture with respect to any Global Note held on their behalf by the
Depositary, and the Depositary may be treated by the Company, any Guarantor, the Trustee and any agent of the Company, any Guarantor or the Trustee as the absolute owner and Holder of such Global Note for all purposes whatsoever. Notwithstanding the
foregoing, the Depositary or its nominee may grant proxies and otherwise authorize any Person (including any Agent Member and any Person that holds a beneficial interest in a Global Note through an Agent Member) to take any action which a Holder is
entitled to take under this Indenture or the Notes, and nothing herein will impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a holder of any security. 

(4) If (x) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for a Global Note
and a successor Depositary is not appointed by the Company within 90 days of the notice or (y) an Event of Default has occurred and is continuing and the Trustee has received a request from the Depositary, the Trustee will promptly exchange
each beneficial interest in a Global Note for one or more Certificated Notes in authorized denominations and of like terms and tenor having an equal aggregate principal amount registered in the name of the owner of such beneficial interest, as
identified to the Trustee by the Depositary, and thereupon such Global Note will be deemed canceled. If such Note does not bear the Restricted Legend, then the Certificated Notes issued in exchange therefor will not bear the Restricted Legend. If
such Note bears the Restricted Legend, then the Certificated Notes issued in exchange therefor will bear the Restricted Legend. 
 (c) Each
Certificated Note will be registered in the name of the holder thereof or its nominee. 
 (d) A Holder may transfer a Note (or a
beneficial interest therein) to another Person or exchange a Note (or a beneficial interest therein) for another Note or Notes of any authorized denomination and of like terms and tenor by presenting to the Trustee a written request therefor stating
the name of the proposed transferee or requesting such an exchange, accompanied by any certification, opinion or other document required by Section 2.10. The Trustee will promptly register any transfer or exchange that meets the requirements of
this Section by noting the same in the Register; provided that: 
 (x) no transfer or exchange will be
effective until it is registered in the Register and 
 (y) the Trustee will not be required (i) to issue, register the
transfer of or exchange any Note for a period of 15 days before a selection of Notes of like terms and tenor to be redeemed or purchased pursuant to an Offer to Purchase, (ii) to register the transfer of or exchange any Note so selected for
redemption or purchase in whole or in part, except, in the case of a partial redemption or purchase, that portion of any Note not being redeemed or purchased, or (iii) if a redemption or a purchase pursuant to an Offer to Purchase is to occur
after a Regular Record Date but on or before the corresponding Interest Payment Date, to register the transfer of or exchange any Note on or after the Regular Record Date and before the date of redemption or purchase. Prior to the registration of
any transfer, the Company, each Guarantor, the Trustee and their agents will treat the Person in whose name the Note is registered as the owner and Holder thereof for all purposes (whether or not the Note is overdue), and will not be affected by
notice to the contrary. 

  
 30 

 From time to time the Company will execute and the Trustee will authenticate additional Notes as
necessary in order to permit the registration of a transfer or exchange in accordance with this Section. 
 No service charge will be
imposed in connection with any transfer or exchange of any Note, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than a transfer tax or other
similar governmental charge payable upon exchange pursuant to subsection (b)(4)). 
 (e) (1) Global Note to Global Note. If a
beneficial interest in a Global Note is transferred or exchanged for a beneficial interest in another Global Note, the Trustee will (x) record a decrease in the principal amount of the Global Note being transferred or exchanged equal to the
principal amount of such transfer or exchange and (y) record a like increase in the principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes delivery in the form of an
interest in another Global Note, or exchanged for an interest in another Global Note, will, upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be
subject to all transfer and exchange restrictions, if any, and other procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. 

(2) Global Note to Certificated Note. If a beneficial interest in a Global Note is transferred or exchanged for a
Certificated Note, the Trustee will (x) record a decrease in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (y) deliver one or more new Certificated Notes in authorized denominations
and of like terms and tenor having an equal aggregate principal amount to the transferee (in the case of a transfer) or the owner of such beneficial interest (in the case of an exchange), registered in the name of such transferee or owner, as
applicable. 
 (3) Certificated Note to Global Note. If a Certificated Note is transferred or exchanged for a
beneficial interest in a Global Note, the Trustee will (x) cancel such Certificated Note, (y) record an increase in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (z) in the
event that such transfer or exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or more new Certificated Notes in authorized denominations and of like terms and tenor having an
aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof.  

(4) Certificated Note to Certificated Note. If a Certificated Note is transferred or exchanged for another
Certificated Note, the Trustee will (x) cancel the Certificated Note being transferred or exchanged, (y) deliver one or more new Certificated Notes in authorized denominations and of like terms and tenor having an aggregate principal
amount equal to the principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Certificated Note (in the case of an exchange), registered in the name of such transferee or Holder, as
applicable, and (z) if such transfer or exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or more Certificated Notes in authorized denominations and of like terms and
tenor having an aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 

Section 2.10. Restrictions on Transfer and Exchange. 

(a) The transfer or exchange of any Note (or a beneficial interest therein) may only be made in accordance with this Section and
Section 2.09 and, in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of the Depositary. The Trustee shall refuse to register any requested transfer or exchange that does not comply with the
preceding sentence. 

  
 31 

 (b) Subject to paragraph (c), the transfer or exchange of any Note (or a beneficial interest
therein) of the type set forth in column A below for a Note (or a beneficial interest therein) of the type set forth opposite in column B below may only be made in compliance with the certification requirements (if any) described in the clause of
this paragraph set forth opposite in column C below. 
  

					
	 A
	 	 B
	 	     C    

	 U.S. Global Note
	 	U.S. Global Note	 	(1)
	 U.S. Global Note
	 	Offshore Global Note	 	(2)
	 U.S. Global Note
	 	Certificated Note	 	(3)
	 Offshore Global Note
	 	U.S. Global Note	 	(4)
	 Offshore Global Note
	 	Offshore Global Note	 	(1)
	 Offshore Global Note
	 	Certificated Note	 	(5)
	 Certificated Note
	 	U.S. Global Note	 	(4)
	 Certificated Note
	 	Offshore Global Note	 	(2)
	 Certificated Note
	 	Certificated Note	 	(3)

 (1) No certification is required. 

(2) The Person requesting the transfer or exchange must deliver or cause to be delivered to the Trustee a duly completed
Regulation S Certificate; provided that if the requested transfer or exchange is made by the Holder of a Certificated Note that does not bear the Restricted Legend, then no certification is required. 

(3) The Person requesting the transfer or exchange must deliver or cause to be delivered to the Trustee (x) a duly
completed Rule 144A Certificate, (y) a duly completed Regulation S Certificate or (z) a duly completed Institutional Accredited Investor Certificate, and/or an Opinion of Counsel and such other certifications and evidence as the Company
may reasonably require in order to determine that the proposed transfer or exchange is being made in compliance with the Securities Act and any applicable securities laws of any state of the United States; provided that if the requested
transfer or exchange is made by the Holder of a Certificated Note that does not bear the Restricted Legend, then no certification is required. In the event that (i) the requested transfer or exchange takes place after the Restricted Period and
a duly completed Regulation S Certificate is delivered to the Trustee or (ii) a Certificated Note that does not bear the Restricted Legend is surrendered for transfer or exchange, upon transfer or exchange the Trustee will deliver a
Certificated Note that does not bear the Restricted Legend. 
 (4) The Person requesting the transfer or exchange must
deliver or cause to be delivered to the Trustee a duly completed Rule 144A Certificate. 
 (5) If the requested transfer or
exchange occurs during the Restricted Period and involves a beneficial interest in an Offshore Global Note, the Person requesting the transfer must deliver or cause to be delivered to the Trustee (x) a duly completed Rule 144A Certificate or
(y) a duly completed Institutional Accredited Investor Certificate, and/or an Opinion of Counsel and such other certifications and evidence as the Company may reasonably require in order to determine that the proposed transfer is being made in
compliance with the Securities Act and any applicable securities laws of any state of the United States. If the requested transfer or exchange involves a beneficial interest in an Offshore Global Note but does not occur during the Restricted Period,
no certification is required and the Trustee will deliver a Certificated Note that does not bear the Restricted Legend. 
 (c) No
certification is required in connection with any transfer or exchange of any Note (or a beneficial interest therein) 

(1) after such Note is eligible for resale pursuant to Rule 144(d) under the Securities Act (or a successor provision);
provided that the Company has provided the Trustee with an  

  
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Officers’ Certificate to that effect, and the Company may require from any Person requesting a transfer or exchange in reliance upon this clause (1) an opinion of counsel and any other
reasonable certifications and evidence in order to support such certificate; or 
 (2) sold pursuant to an effective
registration statement; or 
 (3) that does not bear a Restricted Legend. 

Any Certificated Note delivered in reliance upon this paragraph will not bear the Restricted Legend. 

(d) The Trustee will retain copies of all certificates, opinions and other documents received in connection with the transfer or exchange of a
Note (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable time upon written notice to the Trustee. 

(e) Each certificate representing shares of Common Stock issued upon conversion of any Note, shall, upon issuance, if such shares are subject
to restriction on transfer under the Securities Act at their time of issuance, bear the Common Stock Restricted Legend on the face thereof until the Resale Restriction Termination Date. 

ARTICLE 3 
 REDEMPTION;
OFFER TO PURCHASE 
 Section 3.01. Optional Redemption. The Notes may be redeemed as set forth in Section 5 of the form
of Notes and Section 4.13(c) of this Indenture. 
 Section 3.02. [Reserved]. 

Section 3.03. Method and Effect of Redemption. 

(a) If the Company elects to redeem Notes, it must notify the Trustee of the redemption date and the principal amount of Notes to be redeemed
by delivering an Officers’ Certificate at least 10 days before the notice of redemption required pursuant to this Section 3.03(a) is sent to Holders (unless a shorter period is satisfactory to the Trustee). If fewer than all of the Notes
are being redeemed, the Officers’ Certificate must also specify a record date not less than 15 days after the date the notice of redemption is sent to Holders, and the Trustee will select the Notes to be redeemed pro rata, by lot or by any
other method the Trustee in its sole discretion deems fair and appropriate (or, in the case of Notes represented by Global Notes, in such manner as DTC may require), in denominations of $1,000 principal amount and multiples thereof. The Trustee will
notify the Company promptly of the Notes or portions of Notes to be called for redemption. Notice of redemption must be sent by the Company or at the Company’s request, by the Trustee in the name and at the expense of the Company, to Holders
whose Notes are to be redeemed at least 30 days but not more than 60 days before the redemption date, except that a redemption notice may be sent more than 60 days prior to a redemption date if it is issued in connection with a discharge of the
Company’s obligations under the Notes and this Indenture pursuant to Section 8.01. 
 (b) The notice of redemption will identify
the Notes to be redeemed and will include or state the following: 
 (1) the redemption date; 

(2) the redemption price, if then determinable, and otherwise the method of determining the redemption price; 

(3) the place or places where Notes are to be surrendered for redemption; 

(4) Notes called for redemption must be so surrendered in order to collect the redemption price; 

  
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 (5) on the redemption date the redemption price will become due and payable on
Notes called for redemption, and interest on Notes called for redemption will cease to accrue on and after the redemption date; 

(6) if any Note is redeemed in part, on and after the redemption date, upon surrender of such Note, new Notes of like terms and
tenor equal in principal amount to the unredeemed portion will be issued; 
 (7) if any Note contains a CUSIP or ISIN number,
no representation is being made as to the correctness of the CUSIP or ISIN number either as printed on the Notes or as contained in the notice of redemption and that the Holder should rely only on the other identification numbers printed on the
Notes; and 
 (8) the Conversion Rate and Conversion Price in effect on the date of the notice of redemption and that a
Holder who elects to convert all or a portion of its Notes in lieu of redemption must submit a Conversion Notice with respect to such Notes being converted on or before the close of business on the Business Day immediately preceding the redemption
date. 
 (c) Once notice of redemption is sent to the Holders, Notes called for redemption become due and payable at the redemption price on
the redemption date, together with interest accrued thereon to the redemption date, and upon surrender of the Notes called for redemption, the Company shall redeem such Notes at the redemption price, together with interest accrued thereon to the
redemption date. Commencing on the redemption date, if funds are deposited by the Company to pay the redemption price for the Notes as provided herein, together with interest accrued thereon to the redemption date, the Notes redeemed will cease to
accrue interest. Upon surrender of any Note redeemed in part, the Holder will receive a new Note of like terms and tenor equal in principal amount to the unredeemed portion of the surrendered Note. 

Section 3.04. Offer to Purchase. 

(a) An “Offer to Purchase” means an offer by the Company to purchase Notes as required by this Indenture. An Offer to
Purchase must be made by written offer (the “offer”) sent to the Holders. The Company will notify the Trustee at least 15 days (or such shorter period as is acceptable to the Trustee) prior to sending the offer to Holders of its
obligation to make an Offer to Purchase, and the offer will be sent by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 

(b) The offer must include or state the following as to the terms of the Offer to Purchase: 

(1) the provision of this Indenture pursuant to which the Offer to Purchase is being made; 

(2) the aggregate principal amount of the outstanding Notes offered to be purchased by the Company pursuant to the Offer
to Purchase (including, if less than 100%, the manner by which such amount has been determined pursuant to this Indenture) (the “purchase amount”); 

(3) the purchase price; 

(4) an expiration date (the “expiration date”) not less than 30 days or more than 60 days after the
date of the offer, and a settlement date for purchase (the “purchase date”) not more than five Business Days after the expiration date; 

(5) a Holder may tender all or any portion of its Notes, subject to the requirement that any portion of a Note tendered must be
in a multiple of $1,000 principal amount; 
 (6) the place or places where Notes are to be surrendered for tender pursuant to
the Offer to Purchase; 

  
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 (7) each Holder electing to tender a Note pursuant to the offer will be required
to surrender such Note at the place or places specified in the offer prior to the close of business on the expiration date (any such Certificated Note being, if the Company or the Trustee so requires, duly endorsed or accompanied by a duly executed
written instrument of transfer); 
 (8) interest on any Note not tendered, or tendered but not purchased by the Company
pursuant to the Offer to Purchase, will continue to accrue; 
 (9) on the purchase date the purchase price will become due
and payable on each Note accepted for purchase, together with interest accrued thereon to the purchase date, and interest on Notes purchased will cease to accrue on and after the purchase date; 

(10) Holders are entitled to withdraw Notes tendered by giving notice, which must be received by the Company or the Trustee not
later than the close of business on the expiration date, setting forth the name of the Holder, the principal amount of the tendered Notes, the certificate number of any tendered Certificated Notes and a statement that the Holder is withdrawing all
or a portion of the tender; 
 (11) (i) if Notes in an aggregate principal amount less than or equal to the amount of such
Notes being purchased pursuant to the Offer to Purchase are duly tendered and not withdrawn, the Company will purchase all such Notes, and (ii) if Notes in an aggregate principal amount in excess of the amount of such Notes being purchased
pursuant to the Offer to Purchase are duly tendered and not withdrawn, the Company will purchase Notes having an aggregate principal amount equal to the purchase amount on a pro rata basis, with adjustments so that only Notes in multiples of $1,000
principal amount will be purchased; 
 (12) if any Note is purchased in part, new Notes equal in principal amount to the
unpurchased portion of the Note will be issued; 
 (13) if any Note contains a CUSIP or ISIN number, no representation is
being made as to the correctness of the CUSIP or ISIN number either as printed on the Notes or as contained in the offer and that the Holder should rely only on the other identification numbers printed on the Notes; and 

(14) the Conversion Rate and Conversion Price then in effect and that a Holder that has tendered its Notes for repurchase who
wishes to withdraw such Notes and convert them must submit a valid notice of withdrawal and conversion notice prior to the close of business on the Business Day immediately preceding the purchase date. 

(c) Prior to the purchase date, the Company will accept tendered Notes for purchase as required by the Offer to Purchase and deliver to the
Trustee all Notes so accepted together with an Officers’ Certificate specifying which Notes have been accepted for purchase. On the purchase date the purchase price will become due and payable on each Note accepted for purchase, together with
interest accrued thereon to the purchase date, and interest on Notes purchased will cease to accrue on and after the purchase date. The Trustee will promptly return to Holders any Notes not accepted for purchase and send to Holders new Notes of like
terms and tenor equal in principal amount to any unpurchased portion of any Notes accepted for purchase in part. 
 (d) The Company will
comply with Rule 14e-1 under the Exchange Act and all other applicable laws in making any Offer to Purchase, and the above procedures will be deemed modified as necessary to permit such compliance. 

(e) The Company will timely repay Indebtedness or obtain consents as necessary under, or terminate, any agreements or instruments that would
otherwise prohibit an Offer to Purchase required to be made pursuant to this Indenture. 

  
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 ARTICLE 4 

COVENANTS 

Section 4.01. Payment of Notes. 

(a) The Company agrees to pay the principal of and interest on the Notes and, if applicable, the Early Conversion Payment due in connection
with an Early Conversion and, if applicable, the Company agrees to deliver the shares of Common Stock (and any cash in lieu of fractional shares) due in connection with an Early Conversion or a Mandatory Conversion, each on the dates and in the
manner provided in the Notes and this Indenture. Not later than 11:00 a.m. (New York City time) on the due date of any principal of or interest on any Notes, any redemption or purchase price of the Notes, the Early Conversion Payment, if applicable,
or cash in lieu of fractional shares in connection with any conversion, the Company will deposit with the Trustee (or Paying Agent) money in immediately available funds sufficient to pay such amounts, provided that if the Company or any Affiliate of
the Company is acting as Paying Agent, it will, on or before each due date, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient to pay such amounts until paid to such Holders or otherwise disposed of
as provided in this Indenture. In each case the Company will promptly notify the Trustee of its compliance with this paragraph. 
 (b) An
installment of principal or interest or Early Conversion Payment will be considered paid on the date due if the Trustee (or Paying Agent, other than the Company or any Affiliate of the Company) holds by 11:00 a.m. (New York City time) on that date
money designated for and sufficient to pay the installment. If the Company or any Affiliate of the Company acts as Paying Agent, an installment of principal or interest will be considered paid on the due date only if paid to the Holders. 

(c) The Company agrees to pay interest on overdue principal and Early Conversion Payment, and, in certain circumstances and to the extent
lawful, overdue installments of interest at the rate per annum specified in the Notes. 
 (d) Payments in respect of the Notes represented
by the Global Notes are to be made by wire transfer of immediately available funds to the accounts specified by the Holders of the Global Notes. With respect to Certificated Notes, the Company will make all payments by wire transfer of immediately
available funds to the accounts specified by the Holders thereof or, if no such account is specified, by mailing a check to each Holder’s registered address. 

Section 4.02. Maintenance of Office or Agency. The Company will maintain in the continental United States, an office or agency
where Notes may be surrendered for registration of transfer or exchange, for presentation for payment or conversion and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company hereby
initially designates the Corporate Trust Office of the Trustee as such office of the Company. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the
Company fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served to the Trustee. 

The Company may also from time to time designate one or more other offices or agencies where the Notes may be surrendered or presented for any
of such purposes and may from time to time rescind such designations. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

Section 4.03. Existence. The Company will do or cause to be done all things necessary to preserve and keep in full force
and effect its existence and the existence of each of its Restricted Subsidiaries in accordance with their respective organizational documents, and the material rights, licenses and franchises of the Company and each Restricted Subsidiary,
provided that the Company is not required to preserve any such right, license or franchise, or the existence of any Restricted Subsidiary, if the maintenance or preservation thereof is no longer desirable in the conduct of the business of the
Company and its Restricted Subsidiaries taken as a whole; and provided, further, that this Section does not prohibit any transaction otherwise permitted by Section 4.14 or Article 5. 

  
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 Section 4.04. Payment of Obligations. The Company will pay or discharge, and cause
each of its Restricted Subsidiaries to pay or discharge as the same shall become due and payable (i) all material tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being
contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Company or such Restricted Subsidiary, and (ii) all material lawful claims which, if unpaid, would
by law become a Lien upon the property of the Company or any Restricted Subsidiary. 
 Section 4.05. Maintenance of Properties and
Insurance. 
 (a) The Company will cause all properties used or useful in the conduct of its business or the business of any of
its Restricted Subsidiaries to be maintained and kept in good condition, repair and working order as in the judgment of the Company may be necessary so that the business of the Company and its Restricted Subsidiaries may be properly and
advantageously conducted at all times; provided that nothing in this Section prevents the Company or any Restricted Subsidiary from discontinuing the use, operation or maintenance of any of such properties or disposing of any of them, if such
discontinuance or disposal is, in the judgment of the Company, desirable in the conduct of the business of the Company and its Restricted Subsidiaries taken as a whole. 

(b) The Company will maintain or cause to be maintained (at its own expense), for itself and its Restricted Subsidiaries, insurance with
financially sound and reputable insurance companies, in such amounts, with such limitations or deductibles, against such risks, and in such form as is customarily maintained by companies of established repute engaged in the same or similar
businesses operating in the same or similar locations. 
 Section 4.06. Limitation on Indebtedness and Disqualified Stock. 

(a) The Company will not, and will not cause or permit any of its Restricted Subsidiaries to, create, issue, incur, assume, guarantee or
otherwise in any manner become directly or indirectly liable for the payment of or otherwise incur, contingently or otherwise (collectively, “incur”), any Indebtedness (including any Acquired Debt and the issuance of Disqualified
Stock), unless such Indebtedness is incurred by the Company or any Guarantor and, in each case, the Company’s Consolidated Fixed Charge Coverage Ratio for the most recent four full fiscal quarters for which financial statements are available
immediately preceding the incurrence of such Indebtedness taken as one period is at least equal to or greater than 2.25:1. 

(b) Notwithstanding the foregoing, the Company and, to the extent specifically set forth below, the Restricted Subsidiaries may incur
each and all of the following (collectively, the “Permitted Debt”): 
 (1) Indebtedness of the
Company or any Guarantor (whether as borrowers or guarantors) under one or more Credit Facilities in an aggregate principal amount at any one time outstanding under this clause (1) not to exceed the greater of (x) $1,750,000,000 and
(y) 30.0% of Adjusted Consolidated Net Tangible Assets; 
 (2) Indebtedness of (i) the Company pursuant to the
Notes (other than Additional Notes) and (ii) any Guarantor pursuant to a Note Guarantee of the Notes (including Additional Notes); 

(3) Indebtedness of the Company or any Guarantor outstanding on the Original Issue Date, and not otherwise referred to in this
definition of “Permitted Debt”; 
 (4) intercompany Indebtedness between or among the Company and any of its
Restricted Subsidiaries; provided, however, that: 
 (A) if the Company or any Guarantor is the obligor on
such Indebtedness, such Indebtedness must be (except in respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Company and its Restricted Subsidiaries)
expressly subordinated to the prior payment in full in cash of all obligations with respect to the Notes, in the case of the Company, or the Note Guarantee, in the case of a Guarantor; and 

  
 37 

 (B) (i) any subsequent issuance or transfer of Capital Stock that results
in any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary thereof (other than pursuant to a Credit Facility) and (ii) any sale or other transfer of any such Indebtedness to a Person that is not either the
Company or a Restricted Subsidiary thereof, shall be deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (4); 

(5) Guarantees by the Company or any Guarantor of any Indebtedness of the Company or any of the Guarantors which is permitted
to be incurred under this Indenture; 
 (6) Indebtedness of the Company or any Restricted Subsidiary that represents: 

(A) obligations pursuant to Interest Rate Agreements entered into in the ordinary course of business with respect to
Indebtedness permitted by this Indenture; 
 (B) obligations under currency exchange contracts entered into in the ordinary
course of business; and 
 (C) obligations pursuant to hedging arrangements (including, without limitation, swaps, caps,
floors, collars, options and similar agreements) entered into in the ordinary course of business for the purpose of protecting, on a net basis, against price risks, basis risks, or other risks encountered in the Oil and Gas Business; 

(7) Indebtedness of the Company or any Restricted Subsidiary represented by Capital Lease Obligations (whether or not
incurred pursuant to Sale Leaseback Transactions) or Purchase Money Obligations or other Indebtedness incurred or assumed in connection with the acquisition or development of real or personal, movable or immovable, property in each case incurred for
the purpose of financing or refinancing all or any part of the purchase price, lease expense, rental payment or cost of construction or improvement of property used in the business of the Company or any of its Restricted Subsidiaries, whether
through the direct purchase of such property or through the purchase of Capital Stock of any Person owning such property, in an aggregate principal amount pursuant to this clause (7) (together with the aggregate principal amount of any
Permitted Refinancing Indebtedness in respect of Indebtedness originally incurred pursuant to this clause (7)) not to exceed $100,000,000 outstanding at any time; provided that the principal amount of any Indebtedness permitted under
this clause (7) did not in each case at the time of incurrence exceed the Fair Market Value, as determined by the Company in good faith, of the acquired or constructed asset or improvement so financed; 

(8) Indebtedness of the Company or any Guarantor in connection with 

(A) one or more standby letters of credit issued for the account of the Company or a Guarantor in the ordinary course of
business and 
 (B) other letters of credit, surety, bid, performance, appeal or similar bonds, bankers’
acceptances, completion guarantees or similar instruments; provided that, in each case contemplated by this clause (8), upon the drawing of such letters of credit or other instrument, such obligations are reimbursed within 30 days following
such drawing; provided, further, that with respect to clauses (A) and (B), such Indebtedness is not in connection with the borrowing of money or the obtaining of advances or credit; 

  
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 (9) Indebtedness of the Company or any Restricted Subsidiary with respect to
obligations relating to oil or gas balancing positions arising in the ordinary course of business; 
 (10) Indebtedness of
the Company or any Restricted Subsidiary arising from agreements for indemnification or purchase price adjustment obligations or similar obligations, earn-outs or other similar obligations or from Guarantees or letters of credit, surety bonds or
performance bonds securing any obligation of the Company or a Restricted Subsidiary pursuant to such an agreement, in each case incurred or assumed in connection with the acquisition or disposition of any business, assets or Capital Stock of a
Restricted Subsidiary; 
 (11) Permitted Refinancing Indebtedness of the Company or any Restricted Subsidiary issued in
exchange for, or the net proceeds of which are used to renew, extend, substitute, defease, refund, refinance or replace, any Indebtedness, including any Disqualified Stock, incurred pursuant to Section 4.06(a) and clause (2), (3), (7),
(11) or (12) of this Section 4.06(b); 
 (12) the incurrence by the Company or any of its Restricted
Subsidiaries of Acquired Debt in connection with a transaction meeting any one of the three alternative financial tests set forth in Section 5.01(a)(3); 

(13) Indebtedness of the Company or any Restricted Subsidiary with respect to any obligation arising from the honoring
by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business, provided, however, that such Indebtedness is extinguished within five Business Days
of incurrence;  
 (14) Indebtedness consisting of the financing of insurance premiums in customary amounts consistent
with the operations and business of the Company and its Restricted Subsidiaries; and 
 (15) Indebtedness of the Company or
any Restricted Subsidiary in addition to that described in clauses (1) through (14) above, and any renewals, extensions, substitutions, refinancings or replacements of such Indebtedness, so long as the aggregate principal amount of all
such Indebtedness shall not exceed the greater of (x) $50,000,000 and (y) 2.5% of Adjusted Consolidated Net Tangible Assets outstanding at any one time in the aggregate. 

(c) For purposes of determining compliance with this Section, in the event that an item of Indebtedness meets the criteria of more than
one of the types of Indebtedness permitted by this Section, the Company in its sole discretion may classify or reclassify such item of Indebtedness and only be required to include the amount of such Indebtedness as one of such types (or to divide
such Indebtedness between two or more of such types); provided that any Indebtedness under the Senior Credit Facility which was in existence on the Prior Issue Date (after giving effect to the application of the net proceeds from the Prior
Notes) shall be deemed to have been incurred pursuant to clause (1) of subsection (b) above rather than subsection (a) above. 

(d) Indebtedness permitted by this Section need not be permitted solely by reference to one provision permitting such Indebtedness but may be
permitted in part by one such provision and in part by one or more other provisions of this covenant permitting such Indebtedness. 

(e) Accrual of interest, accretion of principal or liquidation preference (or similar amount) in respect of Preferred Stock or
amortization of original issue discount, and the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, and the accretion or payment of dividends on any Disqualified Stock or Preferred Stock in the form
of additional shares of the same class of Disqualified Stock or Preferred Stock will not be deemed to be an incurrence of Indebtedness for purposes of this Section; provided, in each such case, that the amount thereof as accrued shall be
included as required in the calculation of the Consolidated Fixed Charge Coverage Ratio of the Company. 

  
 39 

 (f) For purposes of determining compliance with any dollar-denominated restriction on the
incurrence of Indebtedness denominated in a foreign currency, the dollar-equivalent principal amount of such Indebtedness incurred pursuant thereto shall be calculated based on the relevant currency exchange rate in effect on the date that such
Indebtedness was incurred. 
 (g) If Indebtedness is secured by a letter of credit that serves only to secure such Indebtedness, then the
total amount deemed incurred shall be equal to the greater of (x) the principal of such Indebtedness and (y) the amount that may be drawn under such letter of credit. 

(h) The amount of Indebtedness issued at a price less than the amount of the liability thereof shall be determined in accordance with GAAP.

 Section 4.07. Limitation on Restricted Payments. 

(a) The Company will not, and will not cause or permit any Restricted Subsidiary to, directly or indirectly: 

(1) pay any dividend on, or make any distribution to holders of, any shares of the Company’s Capital Stock (other than
dividends or distributions payable in shares of the Company’s Qualified Capital Stock); 
 (2) purchase, redeem, defease
or otherwise acquire or retire for value, directly or indirectly, the Company’s Capital Stock; 
 (3) make any principal
payment on, or purchase, redeem, defease, retire or otherwise acquire for value, prior to any scheduled principal payment, sinking fund payment or maturity, any Subordinated Indebtedness (excluding any intercompany Subordinated Indebtedness between
or among the Company and any of its Restricted Subsidiaries), except a payment on, or a purchase, redemption, defeasance, retirement or other acquisition of such Subordinated Indebtedness within one year of its final maturity; 

(4) pay any dividend or distribution on any Capital Stock of any Restricted Subsidiary to any Person (other than (A) to
the Company or any of its Restricted Subsidiaries or any Guarantor or (B) dividends or distributions made by a Restricted Subsidiary on a pro rata basis to all holders of the Capital Stock of such Restricted Subsidiary); or 

(5) make any Investment in any Person (other than any Permitted Investments); 

(any of the foregoing actions described in clauses (1) through (5) above, other than any such action that is a Permitted
Payment, collectively, “Restricted Payments”) (the amount of any such Restricted Payment, if other than cash, shall be the Fair Market Value of the assets proposed to be transferred, as determined by the Board of Directors of the
Company, whose determination shall be conclusive and evidenced by a board resolution), unless 
 (A) immediately
after giving effect to such proposed Restricted Payment on a pro forma basis, no Default (except a Reporting Default) or Event of Default shall have occurred and be continuing; 

(B) immediately after giving effect to such Restricted Payment on a pro forma basis, the Company could incur $1.00 of
additional Indebtedness (other than Permitted Debt) under Section 4.06(a); and 

  
 40 

 (C) after giving effect to the proposed Restricted Payment, the aggregate amount
of all such Restricted Payments declared or made after March 22, 2007 (including all Designation Amounts) does not exceed the sum of: 

(1) 50% of the aggregate Consolidated Net Income of the Company accrued on a cumulative basis during the period beginning
April 1, 2007 and ending on the last day of the Company’s last fiscal quarter ending prior to the date of the Restricted Payment (or, if such aggregate cumulative Consolidated Net Income shall be a loss, minus 100% of such loss); 

(2) the aggregate Net Cash Proceeds, or the Fair Market Value of property other than cash (including assets used in the Oil and
Gas Business or Capital Stock of Persons engaged in the Oil and Gas Business that become Restricted Subsidiaries), received after March 22, 2007 by the Company either (i) as capital contributions in the form of common equity to the Company
or (ii) from the issuance or sale (other than to any of its Subsidiaries) of Qualified Capital Stock of the Company (except, in each case, to the extent such proceeds are used to purchase, redeem or otherwise retire Capital Stock or
Subordinated Indebtedness as set forth below in Sections 4.07(b)(2) and (b)(3) and excluding the Net Cash Proceeds from the issuance of Qualified Capital Stock financed, directly or indirectly, using funds borrowed from the Company or any Subsidiary
until and to the extent such borrowing is repaid); 
 (3) the aggregate Net Cash Proceeds received after March 22, 2007
by the Company (other than from any of its Subsidiaries) upon the exercise of any options, warrants or rights to purchase Qualified Capital Stock of the Company (and excluding the Net Cash Proceeds from the exercise of any options, warrants or
rights to purchase Qualified Capital Stock financed, directly or indirectly, using funds borrowed from the Company or any Subsidiary until and to the extent such borrowing is repaid); 

(4) the aggregate Net Cash Proceeds received after March 22, 2007 by the Company from the conversion or exchange, if any,
of debt securities or Disqualified Stock of the Company or its Restricted Subsidiaries into or for Qualified Capital Stock of the Company plus, to the extent such debt securities or Disqualified Stock were issued after March 22, 2007, the
aggregate of Net Cash Proceeds from their original issuance (and excluding the Net Cash Proceeds from the conversion or exchange of debt securities or Disqualified Stock financed, directly or indirectly, using funds borrowed from the Company or any
Subsidiary until and to the extent such borrowing is repaid); 
 (5) (a) in the case of the disposition or repayment of any
Investment constituting a Restricted Payment (including any Investment in an Unrestricted Subsidiary) made after March 22, 2007, an amount (to the extent not included in Consolidated Net Income) equal to the amount received with respect to such
Investment, less the cost of the disposition of such Investment and net of taxes, and 
 (b) in the case of the
redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary (as long as the designation of such Subsidiary as an Unrestricted Subsidiary was deemed a Restricted Payment), the Fair Market Value of the Company’s interest in such
Subsidiary at the time of such redesignation; and 
 (6) any amount which previously qualified as a Restricted Payment
on account of any Guarantee entered into by the Company or any Restricted Subsidiary; provided that such Guarantee has not been called upon and the obligation arising under such Guarantee no longer exists. 

(b) The foregoing provisions shall not prohibit the following actions (each of clauses (1) through (12) being referred to as
a “Permitted Payment”): 
 (1) the payment of any dividend within 60 days after the date of
declaration thereof, if at such date of declaration such payment was permitted by the provisions of paragraph (a) of this Section 4.07, and such payment shall be deemed to have been paid on such date of declaration; provided that in
determining the aggregate amount of Restricted Payments made after March 22, 2007 in accordance with clause (C) of paragraph (a) of this Section 4.07, amounts expended pursuant to this clause (1) shall be included in such
calculation; 

  
 41 

 (2) the purchase, defeasance, redemption, or other acquisition or
retirement for value of any Capital Stock of the Company in exchange for (including any such exchange pursuant to the exercise of a conversion right or privilege in connection with which cash is paid in lieu of the issuance of fractional shares or
scrip), or out of the Net Cash Proceeds of a substantially concurrent issuance and sale for cash (other than to a Subsidiary) of, any Qualified Capital Stock of the Company; provided that the Net Cash Proceeds from the issuance of such
Qualified Capital Stock shall be excluded from clause (C)(2) of paragraph (a) of this Section 4.07; 
 (3)
the purchase, redemption, defeasance, retirement or other acquisition for value or payment of principal of any Subordinated Indebtedness in exchange for, or in an amount not in excess of the Net Cash Proceeds of, a substantially concurrent issuance
and sale for cash (other than to any Subsidiary of the Company) of any Qualified Capital Stock of the Company, provided that the Net Cash Proceeds from the issuance of such shares of Qualified Capital Stock shall be excluded from clause
(C)(2) of paragraph (a) of this Section 4.07; 
 (4) the purchase, redemption, defeasance, retirement or other
acquisition for value or payment of principal of any Subordinated Indebtedness (other than Disqualified Stock) through the substantially concurrent issuance of Permitted Refinancing Indebtedness; 

(5) any purchase, redemption, retirement, defeasance or other acquisition for value of any Subordinated Indebtedness pursuant
to the provisions of such Subordinated Indebtedness upon a Change of Control or an Asset Sale after the Company shall have complied with the provisions of Section 4.13 or 4.14 as the case may be and repurchased all Notes tendered for purchase
in connection with the Offer to Purchase; 
 (6) the purchase, redemption, defeasance or other acquisition or
retirement for value of any Capital Stock of the Company held by any current or former officers, directors or employees of the Company or any of its Subsidiaries (or permitted transferees of such current or former officers, directors or employees)
pursuant to the terms of agreements (including employment agreements) or plans approved by the Company’s Board of Directors, including any such purchase, redemption, defeasance or other acquisition or retirement of such Capital Stock that is
deemed to occur upon the exercise of stock options or similar rights if such shares represent all or a portion of the exercise price or are surrendered in connection with satisfying Federal income tax obligations; provided, however, that the
aggregate amount of such purchases, redemptions, defeasances or other retirements and acquisitions pursuant to this clause (6) will not, in the aggregate, exceed $2,000,000 per fiscal year (with any unused amount in any fiscal year being
carried over into one or more succeeding fiscal years); 
 (7) loans made to officers, directors or employees of the
Company or any Restricted Subsidiary approved by the Board of Directors of the Company in an aggregate amount not to exceed $2,000,000 outstanding at any one time, the proceeds of which are used solely (A) to purchase Capital Stock of the
Company in connection with a restricted stock or employee stock purchase plan, or to exercise stock options received pursuant to an employee or director stock option plan or other incentive plan, in a principal amount not to exceed the exercise
price of such stock options or (B) to refinance loans, together with accrued interest thereon, made pursuant to item (A) of this clause (7); 

(8) payments of regularly scheduled or accrued dividends on any Preferred Stock of the Company outstanding on the Original
Issue Date; 
 (9) payments to dissenting stockholders of the Company (A) pursuant to applicable law or (B) in
connection with the settlement or other satisfaction of legal claims made pursuant to or in connection with a consolidation, merger or transfer of assets in connection with a transaction that is not prohibited by this Indenture and payments made in
lieu of the issuance of fractional shares of Capital Stock of the Company in connection with any such transaction; 

  
 42 

 (10) payments made by any Person other than the Company or any Restricted
Subsidiary to the stockholders of the Company in connection with or as part of (A) a merger or consolidation of the Company with or into such Person or a Subsidiary of such Person, or (B) a merger of a Subsidiary of such Person into the
Company; 
 (11) the purchase, repurchase, redemption or other acquisition or retirement for value of equity interests deemed
to occur upon the exercise of stock options, warrants or other convertible securities if the equity interests represent a portion of the exercise or exchange price threof and repurchases or other acquisitions or retirement for value of equity
interests deemed to occur upon the withholding of a portion of the equity interests granted or awarded to an employee to pay for the taxes payable by such employee upon such grant, award or vesting or in connection with any such exercise or exchange
of stock options, warrants or other convertible securities; and 
 (12) Restricted Payments not exceeding $25,000,000 in the
aggregate since March 22, 2007. 
 (c) Not later than the date of making any Restricted Payment (except for any Restricted Payment
under clauses (2) through (12) of Section 4.07(b)), the Company will deliver to the Trustee an Officers’ Certificate stating that the Restricted Payment is permitted and setting forth the basis upon which the calculations
required by the covenant were calculated. 
 (d) For purposes of clauses (2), (3) and (4) above, the term “substantially
concurrent” means that the offering was consummated within 180 days after the date of determination. 
 (e) For purposes of determining
compliance with this Section 4.07, if a payment meets the criteria of more than one of the types of Permitted Payments described in clauses (1) through (12) of paragraph (b) of this Section 4.07, the Company, in its sole
discretion, may divide, re-divide, classify or reclassify (or later divide, re-divide, classify or reclassify, in whole or in part) such payment in any manner that complies with this Section 4.07. 

Section 4.08. Limitation on Liens. 

(a) The Company will not, and will not cause or permit any Restricted Subsidiary to, directly or indirectly, create or incur, in order to
secure any Indebtedness, any Lien of any kind, other than Permitted Liens, upon any property or assets (including any intercompany notes) of the Company or any Restricted Subsidiary owned on the date hereof or acquired after the date hereof, or
assign or convey, in order to secure any Indebtedness, any right to receive any income or profits therefrom, unless the Notes (or a Note Guarantee in the case of Liens of a Guarantor) are directly secured equally and ratably with (or, in the case of
Subordinated Indebtedness, prior or senior thereto, with the same relative priority as the Notes shall have with respect to such Subordinated Indebtedness) the Indebtedness secured by such Lien. 

(b) Notwithstanding the foregoing, any Lien securing the Notes or a Note Guarantee granted pursuant to clause (a) above shall be
automatically and unconditionally released and discharged upon: 
 (1) any sale, exchange or transfer to any Person not an
Affiliate of the Company of the property or assets secured by such Lien, or 
 (2) with respect to any Lien securing a Note
Guarantee, the release of such Note Guarantee in accordance with the terms of this Indenture. 
 Section 4.09. [Reserved]. 

  
 43 

 Section 4.10. Limitation on Dividend and Other Payment Restrictions Affecting Restricted
Subsidiaries. The Company will not, and will not cause or permit any of its Restricted Subsidiaries to, directly or indirectly, create or otherwise cause to come into existence or become effective any consensual encumbrance or restriction on the
ability of any Restricted Subsidiary to: 
 (1) pay dividends or make any other distribution on its Capital Stock to the
Company or any other Restricted Subsidiary, 
 (2) pay any Indebtedness owed to the Company or any other Restricted
Subsidiary, 
 (3) make loans or advances to the Company or any other Restricted Subsidiary, or 

(4) transfer any of its properties or assets to the Company or any other Restricted Subsidiary. 

(b) However, clause (a) above will not prohibit any encumbrance or restriction created, existing or becoming effective under or by reason
of: 
 (1) any agreement (including the Senior Credit Facility) in effect on the Original Issue Date; 

(2) any agreement or instrument with respect to a Person that was not a Restricted Subsidiary of the Company on the
Original Issue Date, in existence at the time such Person becomes (or became) a Restricted Subsidiary of the Company and not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary, provided that such
encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary or the properties or assets of the Company or any Restricted Subsidiary other than such Subsidiary which is becoming a Restricted Subsidiary; 

(3) any agreement or instrument governing any Acquired Debt or other agreement of any Person or related to assets acquired by
or merged into or consolidated with the Company or any Restricted Subsidiaries, so long as such encumbrance or restriction (A) was not entered into in contemplation of the acquisition, merger or consolidation transaction, and (B) is not
applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets or subsidiaries of the Person, so acquired, so long as the agreement containing such restriction does not violate any other
provision of this Indenture; 
 (4) any applicable law or any requirement of any regulatory body; 

(5) the security documents evidencing any Liens securing obligations or Indebtedness that limit the right of the debtor to
dispose of the assets subject to such Liens; provided that such Liens are permitted to be incurred under the provisions of Section 4.08; 

(6) provisions restricting subletting or assignment of any lease governing a leasehold interest of the Company or any
Restricted Subsidiary, or restrictions in licenses relating to the property covered thereby, or other encumbrances or restrictions in agreements or instruments relating to specific assets or property that restrict generally the transfers of such
assets or property, provided, however, that such encumbrances or restrictions do not materially impact the ability of the Company to make payments on the Notes when due as required by the terms of this Indenture; 

(7) asset sale agreements with respect to asset sales permitted to be made under the provisions of Section 4.14 that limit
the transfer of such assets pending the closing of such sale; 

  
 44 

 (8) shareholders’, partnership, joint venture and similar agreements
entered into in the ordinary course of business; provided, however, that such encumbrances or restrictions do not apply to any Restricted Subsidiaries other than the applicable company, partnership, joint venture or other entity; and
provided, further, however, that such encumbrances and restrictions do not materially impact the ability of the Company to make payments on the Notes when due as required by the terms of this Indenture; 

(9) cash or other deposits, or net worth requirements or similar requirements, imposed by suppliers or landlords under
contracts entered into in the ordinary course of business; 
 (10) any other Credit Facility governing debt of the
Company or any Guarantor, permitted to be incurred by Section 4.06; provided, however, that such encumbrances or restrictions are not (in the view of the Board of Directors of the Company as expressed in a board resolution thereof)
materially more restrictive, taken as a whole, than those contained in the Senior Credit Facility; 
 (11) customary
restrictions on the disposition or distribution of assets or property in agreements entered into in the ordinary course of the Oil and Gas Business of the types described in the definition of Permitted Business Investments; and 

(12) this Indenture, or any agreement, amendment, modification, restatement, renewal, supplement, refunding, replacement
or refinancing that extends, renews, refinances or replaces the agreements containing the encumbrances or restrictions in the foregoing clauses (1) through (11), or in this clause (12); provided that the terms and conditions of any such
encumbrances or restrictions are no more restrictive in any material respect taken as a whole than those under or pursuant to the agreement so extended, renewed, refinanced or replaced. 

Section 4.11. [Reserved]. 

Section 4.12. Guarantees by Restricted Subsidiaries. 

(a) Upon the formation or acquisition of any new direct or indirect Restricted Subsidiary (excluding (i) any Foreign Subsidiary and
(ii) any Immaterial Subsidiary) by the Company or any Restricted Subsidiary, then such new Restricted Subsidiary will provide a Note Guarantee within 20 days after its formation or acquisition. 

(b) A Restricted Subsidiary required to provide a Note Guarantee shall execute a Supplemental Indenture and deliver an Opinion of Counsel to
the Trustee in accordance with Article 11 of this Indenture. 
 Section 4.13. Repurchase of Notes Upon a Change of Control. 

(a) Not later than 30 days following a Change of Control, the Company will make an Offer to Purchase all outstanding Notes at a purchase price
equal to 101% of the principal amount plus accrued interest to the date of purchase (subject to the right of Holders on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date). 

(b) The Company will not be required to make an Offer to Purchase pursuant to Section 4.13(a) if a third party makes an Offer to Purchase
in the manner, at the times and otherwise in compliance with the requirements set forth in Section 4.13(a) and Section 3.04 applicable to an Offer to Purchase made by the Company and purchases all Notes validly tendered and not withdrawn
pursuant to such Offer to Purchase. 
 (c) In the event that Holders of not less than 90% of the aggregate principal amount of the
outstanding Notes accept an Offer to Purchase and the Company (or a third party making the Offer to Purchase as provided in paragraph (b) above) purchases all of the Notes held by such Holders, the Company will have the right,

  
 45 

 
upon not less than 30 nor more than 60 days’ prior notice, given not more than 30 days following the purchase pursuant to the Offer to Purchase described above, to redeem all of the Notes
that remain outstanding following such purchase at a redemption price equal to 101% of the principal amount plus accrued interest to the date of purchase (subject to the right of Holders on the relevant Regular Record Date to receive interest due on
the relevant Interest Payment Date). 
 Section 4.14. Limitation on Asset Sales. 

(a) The Company will not, and will not permit any Restricted Subsidiary to, consummate any Asset Sale unless (1) the Company or such
Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value of the assets and property subject to such Asset Sale and (2) at least 75% of the aggregate consideration
paid to the Company or such Restricted Subsidiary in connection with such Asset Sale and all other Asset Sales since the Prior Issue Date, on a cumulative basis, is in the form of (i) cash, Cash Equivalents, Liquid Securities, Exchanged
Properties (including pursuant to asset swaps), or Additional Assets, (ii) the assumption by the purchaser of liabilities of the Company (other than liabilities of the Company that are by their terms subordinated to the Notes), (iii) the
assumption by the purchaser of liabilities of any Guarantor that made such Asset Sale (other than liabilities of a Guarantor that are by their terms subordinated to such Guarantor’s Guarantee), and, in the case of each of clauses (ii) and
(iii) as a result of which the Company and its remaining Restricted Subsidiaries are no longer liable for such liabilities, (iv) solely in the case of any Asset Sale of Midstream Assets, Permitted MLP Securities or (v) consideration
consisting of Indebtedness of the Company or any Guarantor received from Persons who are not the Company or any Restricted Subsidiary. 

(b) The Net Available Cash from Asset Sales by the Company or a Restricted Subsidiary may be applied by the Company or such Restricted
Subsidiary, to the extent the Company or such Restricted Subsidiary elects (or is required by the terms of any Pari Passu Indebtedness of the Company or a Restricted Subsidiary), to 

(1) repay any Indebtedness of the Company or any Restricted Subsidiaries other than Subordinated Indebtedness; or 

(2) reinvest in Additional Assets (including by means of an Investment in Additional Assets by a Restricted Subsidiary with Net
Available Cash received by the Company or another Restricted Subsidiary) or make capital expenditures in the Oil and Gas Business. 
 (c)
Excess Proceeds of less than $20,000,000 will be carried forward and accumulated. When accumulated Excess Proceeds equals or exceeds $20,000,000, the Company must, within seven Business Days, make an Offer to Purchase Notes having a principal amount
equal to 
 (1) accumulated Excess Proceeds, multiplied by 

(2) a fraction (x) the numerator of which is equal to the outstanding principal amount of the Notes and (y) the
denominator of which is equal to the outstanding principal amount of the Notes and all Pari Passu Indebtedness similarly required to be repaid, redeemed or tendered for in connection with the Asset Sale, 

rounded down to the nearest $1,000. Any Offer to Purchase Notes pursuant to this Section 4.14(c) shall be made ratably to the Holders of the Notes on the
basis of the principal amount of the Notes then outstanding. The purchase price for the Notes will be 100% of the principal amount plus accrued interest to the date of purchase (subject to the right of Holders on the relevant Regular Record Date to
receive interest due on the relevant Interest Payment Date). Upon completion of the Offer to Purchase, Excess Proceeds will be reset at zero. 

Section 4.15. Limitation on Transactions with Shareholders and Affiliates. The Company will not, and will not cause or permit any
of its Restricted Subsidiaries to, directly or indirectly, enter into any transaction or series of related transactions (including, without limitation, the sale, purchase, exchange or lease of assets, property

  
 46 

 
or services) with or for the benefit of any Affiliate of the Company (other than the Company or a Restricted Subsidiary) unless such transaction or series of related transactions is entered into
in good faith and in writing and 
 (a) such transaction or series of related transactions is on terms that are no less favorable to the
Company or such Restricted Subsidiary, as the case may be, than those that would be available in a comparable transaction in arm’s-length dealings with a party who is not an Affiliate of the Company and, if in the good faith judgment of the
Board of Directors of the Company (whose determination shall be conclusive), no comparable transaction is available with which to compare such transaction or series of related transactions, such transaction or series of related transactions is
otherwise fair to the Company or such Restricted Subsidiary from a financial point of view, 
 (b) with respect to any transaction or series
of related transactions involving aggregate value in excess of $20,000,000, the Company delivers an Officers’ Certificate to the Trustee certifying that such transaction or series of related transactions complies with clause (a) above, and

 (c) with respect to any transaction or series of related transactions involving aggregate value in excess of $40,000,000, the Company
delivers an Officers’ Certificate to the Trustee certifying that such transaction or series of related transactions has been approved by a majority of the Disinterested Directors of the Board of Directors of the Company, or in the event there
is only one Disinterested Director, by such Disinterested Director; 
 provided, however, that this provision shall not apply to: 

(1) employee benefit arrangements with any officer or director of the Company, including under any employment agreement, stock
option or stock incentive plans, and customary indemnification arrangements with officers or directors of the Company, in each case entered into in the ordinary course of business, 

(2) the payment of reasonable and customary fees to directors of the Company or any of its Restricted Subsidiaries who are not
employees of the Company or any Affiliate, 
 (3) any Permitted Investments, Restricted Payments or Permitted Payments made
in compliance with Section 4.07, 
 (4) sales of Capital Stock (other than Disqualified Stock) of the Company to
Affiliates of the Company, 
 (5) in the case of contracts for purchase of drilling equipment or sale of oil field service
supplies or natural gas or other operational contracts, any such contracts are entered into in the ordinary course of business on terms substantially similar to those contained in similar contracts entered into by the Company or any Restricted
Subsidiary and third parties, or if neither the Company nor any Restricted Subsidiary has entered into a similar contract with a third party, that the terms are no less favorable than those available from third parties on an arm’s-length basis,
as determined by the Board of Directors of the Company, 
 (6) any customary agreements with stockholders of the
Company providing for preemptive, voting, tag-along and similar rights to certain stockholders of the Company, provided that such agreements are approved in advance by a majority of the Disinterested Directors,  

(7) transactions between the Company or any Restricted Subsidiary and any Person, a director of which is also a director
of the Company or any direct or indirect parent of the Company and such director is the sole cause for such Person to be deemed an Affiliate of the Company or any Restricted Subsidiary; provided, however, that such director shall abstain from
voting as a director of the Company or such direct or indirect parent company, as the case may be, on any matter involving such other Person, and 

  
 47 

 (8) any transactions undertaken pursuant to any contracts in existence on the
Original Issue Date (as in effect on such date) and any renewals, replacements or modifications of such contracts (pursuant to new transactions or otherwise) on terms no less favorable to the Holders of the Notes than those in effect on the Original
Issue Date. 
 Section 4.16. Line of Business. Neither the Company nor any of its Restricted Subsidiaries will directly or
indirectly engage in any line or lines of business activity other than that which is an Oil and Gas Business, except to such extent as would not be material to the Company and its Restricted Subsidiaries, taken as a whole. 

Section 4.17. [Reserved]. 

Section 4.18. Designation of Restricted and Unrestricted Subsidiaries. 

(a) The Board of Directors of the Company may designate after the Issue Date any Subsidiary as an “Unrestricted Subsidiary”
(a “Designation”) only if: 
 (1) no Default or Event of Default shall have occurred and be
continuing at the time of or after giving effect to such Designation; 
 (2) (A) the Company would be permitted to
make an Investment at the time of Designation (assuming the effectiveness of such Designation) pursuant to Section 4.07 in an amount (the “Designation Amount”) equal to the greater of (i) the net book value of the
Company’s interest in such Subsidiary calculated in accordance with GAAP or (ii) the Fair Market Value of the Company’s interest in such Subsidiary, or 

(B) the Designation Amount is less than $1,000; 

(3) such Unrestricted Subsidiary does not own any Capital Stock in any Restricted Subsidiary of the Company which is not
simultaneously being designated an Unrestricted Subsidiary; 
 (4) such Unrestricted Subsidiary is not liable, directly or
indirectly, with respect to any Indebtedness other than Unrestricted Subsidiary Indebtedness, provided that an Unrestricted Subsidiary may provide a Note Guarantee; and 

(5) such Unrestricted Subsidiary is not a party to any agreement, contract, arrangement or understanding at such time with the
Company or any Restricted Subsidiary unless the terms of any such agreement, contract, arrangement or understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are
not Affiliates of the Company or, in the event such condition is not satisfied, the value of such agreement, contract, arrangement or understanding to such Unrestricted Subsidiary shall be deemed a Restricted Payment. 

In the event of any such Designation, the Company shall be deemed, for all purposes of this Indenture, to have made an Investment equal to the
Designation Amount that constitutes a Restricted Payment pursuant to Section 4.07. 
 (b) The Company shall not and shall not cause or
permit any Restricted Subsidiary to at any time 
 (1) provide credit support for, Guarantee or subject any of its
property or assets (other than the Capital Stock of any Unrestricted Subsidiary) to the satisfaction of, any Indebtedness of any Unrestricted Subsidiary (including any undertaking, agreement or instrument evidencing such Indebtedness), provided,
however, that the provisions of this clause (b)(1) shall not be deemed to prevent Permitted Investments in Unrestricted Subsidiaries that are otherwise allowed under this Indenture, or 

  
 48 

 (2) be directly or indirectly liable for any Indebtedness of any Unrestricted
Subsidiary. 
 (c) For purposes of the foregoing, the Designation of a Subsidiary of the Company as an Unrestricted Subsidiary shall be
deemed to be the Designation of all of the Subsidiaries of such Subsidiary as Unrestricted Subsidiaries. 
 (d) The Company may revoke any
Designation of a Subsidiary as an Unrestricted Subsidiary (a “Revocation”) if: 
 (1) no Default or Event of
Default shall have occurred and be continuing at the time of and after giving effect to such Revocation; 
 (2) all Liens and
Indebtedness of such Unrestricted Subsidiary outstanding immediately following such Revocation would, if incurred at such time, have been permitted to be incurred for all purposes of this Indenture; and 

(3) unless such redesignated Subsidiary shall not have any Indebtedness outstanding (other than Indebtedness that would be
Permitted Debt), immediately after giving effect to such proposed Revocation, and after giving pro forma effect to the incurrence of any such Indebtedness of such redesignated Subsidiary as if such Indebtedness was incurred on the date of the
Revocation, the Company could incur $1.00 of additional Indebtedness (other than Permitted Debt) pursuant to Section 4.06. 
 (e) All
Designations and Revocations must be evidenced by a resolution of the Board of Directors of the Company delivered to the Trustee certifying compliance with the foregoing provisions of this covenant. 

Section 4.19. [Reserved]. 

Section 4.20. Financial Reports. 

(a) Whether or not the Company is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company must
provide the Trustee and Noteholders within the time periods specified in those sections with 
 (1) all quarterly and annual
financial information that would be required to be contained in a filing with the SEC on Forms 10-Q and 10-K if the Company were required to file such forms, including a “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and, with respect to annual information only, a report thereon by the Company’s certified independent accountants, and 

(2) all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such
reports. 
 (b) Whether or not required by the SEC, the Company will, if the SEC will accept the filing, file a copy of all of the
information and reports referred to in clauses (1) and (2) of Section 4.20(a) with the SEC for public availability within the time periods specified in the SEC’s rules and regulations, and any such information and reports so
filed with the SEC shall be deemed to have been provided to Holders pursuant to Section 4.20(a). The Company will make the information and reports referred to in clauses (1) and (2) of Section 4.20(a) available to securities
analysts and prospective investors upon request, to the extent such information and reports have not been filed with the SEC. 

  
 49 

 (c) If the Company had any Unrestricted Subsidiaries during the relevant period, the Company will
provide to the Trustee and the Noteholders information sufficient to ascertain the financial condition and results of operations of the Company and its Restricted Subsidiaries, excluding in all respects the Unrestricted Subsidiaries, to the extent
such information has not been filed with the SEC. 
 (d) For so long as any of the Notes remain outstanding and constitute “restricted
securities” under Rule 144 and for so long as any Common Stock issued upon conversion of the Notes constitute “restricted securities” under Rule 144, the Company will furnish to the Holders of the Notes, holders of such Common Stock
and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

(e) Delivery of these reports and information to the Trustee is for informational purposes only and the Trustee’s receipt of them will
not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates). 
 Section 4.21. Reports to Trustee. 

(a) The Company will deliver to the Trustee within 120 days after the end of each of its fiscal years a certificate from the principal
executive, financial or accounting officer of the Company stating that the officer has conducted or supervised a review of the activities of the Company and its Restricted Subsidiaries and their performance under this Indenture and that, based upon
such review, the Company has fulfilled its obligations hereunder or, if there has been a Default, specifying the Default and its nature and status. 

(b) The Company will deliver to the Trustee, as soon as possible and in any event within 30 days after the Company becomes aware or should
reasonably become aware of the occurrence of a Default, an Officers’ Certificate setting forth the details of the Default, and the action which the Company proposes to take with respect thereto. 

(c) The Company will notify the Trustee when any Notes are listed on any national securities exchange and of any delisting. 

Section 4.22. Suspension of Covenants when Notes Rated Investment Grade. 

(a) If on any date following the Issue Date: 

(1) the Notes have achieved Investment Grade Status; and 

(2) no Default or Event of Default shall have occurred and be continuing on such date, 

then, beginning on that day and continuing until such time, if any, at which the Notes cease to have Investment Grade Status (such period, the
“Suspension Period”), Sections 4.06, 4.07, 4.10, 4.12, 4.14, 4.15, 4.16 and 4.18 and 5.01(a)(3) (the “Suspended Covenants”) will no longer be applicable to the Notes and any related default provisions of this Indenture
will cease to be effective and will not be applicable to the Company and its Restricted Subsidiaries. 
 (b) The Suspended
Covenants will not, however, be of any effect with regard to the actions of the Company and the Restricted Subsidiaries properly taken during the continuance of the Suspension Period; provided that (1) with respect to the Restricted
Payments made after any such reinstatement, the amount of Restricted Payments will be calculated as though Section 4.07 had been in effect prior to, but not during, the Suspension Period and (2) all Indebtedness incurred, or Disqualified
Stock issued, during the Suspension Period will be classified to have been incurred or issued pursuant to clause (3) of paragraph (b) of Section 4.06. Upon the occurrence of a Suspension Period, the amount of Excess Proceeds shall be
reset at zero. 

  
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 ARTICLE 5 

CONSOLIDATION, MERGER OR SALE OF ASSETS 

Section 5.01. Consolidation, Merger or Sale of Assets by the Company. 

(a) The Company will not, in a single transaction or through a series of related transactions, consolidate with or merge with or into any
other Person or sell, assign, convey, transfer, lease or otherwise dispose of all or substantially all of its properties and assets to any Person or group of Persons, or permit any of its Restricted Subsidiaries to enter into any such transaction or
series of transactions, if such transaction or series of transactions, in the aggregate, would result in a sale, assignment, conveyance, transfer, lease or disposition of all or substantially all of the properties and assets of the Company and its
Restricted Subsidiaries on a Consolidated basis to any other Person or group of Persons (other than the Company or a Guarantor), unless at the time and after giving effect thereto: 

(1) either (A) the Company will be the continuing corporation or (B) the Person (if other than the Company)
formed by such consolidation or into which the Company is merged or the Person which acquires by sale, assignment, conveyance, transfer, lease or disposition all or substantially all of the properties and assets of the Company and its Restricted
Subsidiaries on a Consolidated basis (the “Surviving Entity”) will be a corporation, limited liability company or limited partnership (provided that in the event the Surviving Entity is a limited partnership,
then a Subsidiary of the Surviving Entity that is a corporation or limited liability company shall execute a supplement to this Indenture pursuant to which it shall become a co-obligor of the Surviving Entity’s obligations under this Indenture
and the Notes) duly organized and validly existing under the laws of the United States of America, any state thereof or the District of Columbia and the Surviving Entity expressly assumes, by executing a supplement to this Indenture, all the
obligations of the Company under this Indenture and the Notes; 
 (2) immediately after giving effect to such
transaction on a pro forma basis (and treating any Indebtedness not previously an obligation of the Company or any of its Restricted Subsidiaries which becomes the obligation of the Company or any of its Restricted Subsidiaries as a result of such
transaction as having been incurred at the time of such transaction), no Default or Event of Default will have occurred and be continuing; 

(3) either (x) immediately after giving effect to such transaction on a pro forma basis (on the assumption that the
transaction occurred on the first day of the four-quarter period for which financial statements are available ending immediately prior to the consummation of such transaction with the appropriate adjustments with respect to the transaction being
included in such pro forma calculation), the Company (or the Surviving Entity if the Company is not the continuing obligor under this Indenture) (A) could incur $1.00 of additional Indebtedness (other than Permitted Debt) under the provisions
of Section 4.06, or (B) would have a Consolidated Fixed Charge Coverage Ratio not less than the Consolidated Fixed Charge Coverage Ratio of the Company immediately prior to such transaction, or (y) immediately after giving effect to
such transaction, the Consolidated Net Worth of the Company (or the Surviving Entity if the Company is not the continuing obligor under this Indenture) is no less than the Consolidated Net Worth of the Company immediately prior to such transaction;
provided, however, that this clause (3) will be of no effect during any Suspension Period; 
 (4) unless
the Company is the continuing obligor under this Indenture, at the time of the transaction, each Guarantor, if any, unless it is the other party to the transactions described above, will have confirmed, by executing a supplement to this Indenture,
that its Note Guarantee shall apply to the Surviving Entity’s obligations under this Indenture and the Notes; 
 (5) at
the time of the transaction, if any of the property or assets of the Company or any of its Restricted Subsidiaries would thereupon become subject to any Lien, the provisions of Section 4.08 are complied with; and 

  
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 (6) at the time of the transaction, the Company or the Surviving Entity will have
delivered, or caused to be delivered, to the Trustee, an Officers’ Certificate and an Opinion of Counsel, each to the effect that such consolidation, merger, transfer, sale, assignment, conveyance, transfer, lease or other transaction and any
supplement to this Indenture executed and delivered in connection therewith comply with the terms of this Indenture. 
 (b) In the event of
any transaction (other than a lease) described in and complying with the conditions listed in Section 5.01(a) in which the Company is not the Surviving Entity, the Surviving Entity shall succeed to, and be substituted for, and may exercise
every right and power of, the Company under this Indenture and the Notes, and the Company shall be discharged from all obligations and covenants under this Indenture and the Notes. 

(c) Notwithstanding the foregoing, the Company may merge with an Affiliate incorporated or organized solely for the purpose of reincorporating
or reorganizing the Company in another jurisdiction to realize tax or other benefits. 
 Section 5.02. Consolidation, Merger or Sale
of Assets by a Guarantor. 
 (a) Each Guarantor will not, and the Company will not permit a Guarantor to, in a single transaction or
through a series of related transactions, (x) consolidate with or merge with or into any other Person (other than the Company or any other Guarantor) or (y) sell, assign, convey, transfer, lease or otherwise dispose of all or substantially
all of its properties and assets to any Person or group of Persons (other than the Company or any other Guarantor) or permit any of its Restricted Subsidiaries to enter into any such transaction or series of transactions if such transaction or
series of transactions, in the aggregate, in the case of clause (y) would result in a sale, assignment, conveyance, transfer, lease or disposition of all or substantially all of the properties and assets of the Guarantor and its Restricted
Subsidiaries on a Consolidated basis to any other Person or group of Persons (other than the Company or any Guarantor), unless at the time and after giving effect thereto: 

(1) either (A) the Guarantor or the Company will be the continuing Person in the case of a merger involving the Guarantor
or (B) the Person (if other than the Guarantor) formed by such consolidation or into which the Guarantor is merged or the Person which acquires by sale, assignment, conveyance, transfer, lease or disposition all or substantially all of the
properties and assets of the Guarantor and its Restricted Subsidiaries on a Consolidated basis (the “Surviving Guarantor Entity”) expressly assumes, by executing a supplement to this Indenture, all the obligations of such Guarantor
under its Note Guarantee; 
 (2) immediately before and immediately after giving effect to such transaction on a pro forma
basis, no Default or Event of Default will have occurred and be continuing; and 
 (3) at the time of the transaction such
Guarantor or the Surviving Guarantor Entity will have delivered, or caused to be delivered, to the Trustee, an Officers’ Certificate and an Opinion of Counsel, each to the effect that such consolidation, merger, transfer, sale, assignment,
conveyance, lease or other transaction and any supplement to this Indenture executed and delivered in connection therewith comply with this Indenture; 

provided, however, that this Section 5.02(a) shall not apply to any Guarantor whose Note Guarantee is terminated in accordance with
Section 11.09 of this Indenture. 
 (b) In the event of any transaction (other than a lease) described in and complying with the
conditions listed in Section 5.02(a) in which the Guarantor is not the Surviving Guarantor Entity, the Surviving Guarantor Entity shall succeed to, and be substituted for, and may exercise every right and power of, such Guarantor under this
Indenture, and such Guarantor shall be discharged from all obligations and covenants under this Indenture and the Note Guarantee. 

  
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 (c) Notwithstanding the foregoing, any Guarantor may merge with an Affiliate incorporated or
organized solely for the purpose of reincorporating or reorganizing such Guarantor in another jurisdiction to realize tax or other benefits. 

ARTICLE 6 
 DEFAULT AND
REMEDIES 
 Section 6.01. Events of Default. An “Event of Default” occurs if 

(1) the Company defaults in the payment of the principal of any Note when the same becomes due and payable at Stated Maturity,
upon acceleration or redemption, or otherwise (other than pursuant to an Offer to Purchase); 
 (2) the Company defaults in
the payment of interest on any Note when the same becomes due and payable, and the default continues for a period of 30 days; 

(3) the Company fails to make an Offer to Purchase and thereafter accept and pay for Notes tendered when and as required
pursuant to Section 4.13 or Section 4.14, or the Company or any Guarantor fails to comply with Article 5; 
 (4)
the Company defaults in the performance of or breaches any other covenant or agreement of the Company in this Indenture or under the Notes and the default or breach continues for a period of 60 consecutive days after written notice (or 180
consecutive days after written notice in the case of a Reporting Default ) to the Company by the Trustee or to the Company and the Trustee by the Holders of 25% or more in aggregate principal amount of the Notes; 

(5) there occurs with respect to any Indebtedness of the Company, any Guarantor or any other Significant Subsidiary having an
outstanding principal amount of $50,000,000 or more in the aggregate for all such Indebtedness of all such Persons (i) an event of default that results in such Indebtedness (including any scheduled installment of principal with respect to such
Indebtedness) being due and payable prior to its Stated Maturity or (ii) failure to make a principal, premium (if any) or interest payment when due and such defaulted payment is not made, waived or extended within the applicable grace period,
the result of which is to give the holder of such Indebtedness the right to accelerate such Indebtedness; 
 (6) one or more
judgments, orders or decrees of any court or regulatory or administrative agency for the payment of money in excess of $50,000,000 (determined net of any amounts covered by insurance policies by insurers believed by the Company in good faith to be
credit-worthy), either individually or in the aggregate, shall be rendered against the Company, any Guarantor or any other Significant Subsidiary or any of their respective properties and shall not be discharged and either (i) any creditor
shall have commenced an enforcement proceeding upon such judgment, order or decree or (ii) there shall have been a period of 60 consecutive days during which a stay of enforcement of such judgment or order, by reason of an appeal or otherwise,
shall not be in effect; 
 (7) the Company or any Significant Subsidiary institutes or consents to the institution of any
proceeding under any Debtor Relief Law with respect to it, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar
officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment
continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues
undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; 

  
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 (8) the Company or any Significant Subsidiary becomes unable or admits in writing
its inability or fails generally to pay its debts as they become due; 
 (9) any Note Guarantee ceases to be in full force
and effect, other than in accordance the terms of this Indenture, or a Guarantor denies or disaffirms its obligations under its Note Guarantee; or 

(10) the Company fails to satisfy its conversion obligations in accordance with Article 10 (x) upon a Holder’s
exercise of its Early Conversion rights or (y) upon the Company’s exercise of its Mandatory Conversion rights, which failure in each case is not cured within five Business Days. 

Section 6.02. Acceleration. 

(a) If an Event of Default occurs and is continuing under this Indenture, the Trustee or the Holders of at least 25% in aggregate principal
amount of the Notes then outstanding, by written notice to the Company (and to the Trustee if the notice is given by the Holders), may, and the Trustee at the request of such Holders shall, declare the principal of and accrued interest on the Notes
to be immediately due and payable. Upon a declaration of acceleration, such principal and interest will become immediately due and payable; provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with
respect to the Company under the Bankruptcy Code of the United States, the principal of and accrued interest on the Notes then outstanding will become immediately due and payable without any declaration or other act on the part of the Trustee or any
Holder. 
 (b) The Holders of a majority in aggregate principal amount of the outstanding Notes by written notice to the Company and to the
Trustee may waive all past defaults and rescind and annul a declaration of acceleration and its consequences if 
 (1) all
existing Events of Default, other than the nonpayment of the principal of, premium, if any, and interest on the Notes that have become due solely by the declaration of acceleration, have been cured or waived, and 

(2) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction. 

Section 6.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue, in its own name or as
trustee of an express trust, any available remedy by proceeding at law or in equity to collect the payment of principal of and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. The Trustee may
maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. 
 Section 6.04.
Waiver of Past Defaults. Except as otherwise provided in Sections 6.02, 6.07 and 9.02, the Holders of a majority in aggregate principal amount of the outstanding Notes may, by notice to the Trustee, waive an existing Default and its
consequences. Upon such waiver, the Default will cease to exist, and any Event of Default arising therefrom will be deemed to have been cured, but no such waiver will extend to any subsequent or other Default or impair any right consequent thereon.

 Section 6.05. Control by Majority. The Holders of a majority in aggregate principal amount of the outstanding Notes may
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this
Indenture, that may involve the Trustee in personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders of Notes not joining in the giving of such direction, and may take any other action it
deems proper that is not inconsistent with any such direction received from Holders of Notes. 

  
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 Section 6.06. Limitation on Suits. A Holder may not institute any proceeding,
judicial or otherwise, with respect to this Indenture or the Notes, or for the appointment of a receiver or trustee, or for any other remedy under this Indenture or the Notes, unless: 

(1) the Holder has previously given to the Trustee written notice of a continuing Event of Default; 

(2) Holders of at least 25% in aggregate principal amount of outstanding Notes have made written request to the Trustee to
institute proceedings in respect of the Event of Default in its own name as Trustee under this Indenture; 
 (3) Holders have
offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against any costs, liabilities or expenses to be incurred in compliance with such request; 

(4) the Trustee for 60 days after its receipt of such notice, request and offer of security or indemnity has failed to
institute any such proceeding; and 
 (5) during such 60-day period, the Holders of a majority in aggregate principal amount
of the outstanding Notes have not given the Trustee a direction that is inconsistent with such written request. 
 Section 6.07.
Rights of Holders to Receive Payment and to Convert Notes. Notwithstanding anything to the contrary, the right of a Holder of a Note to receive payment of principal of or interest on its Note on or after the Stated Maturities thereof, or to
bring suit for the enforcement of any such payment on or after such respective dates, may not be impaired or affected without the consent of that Holder. 

In addition, notwithstanding any other provision of this Indenture, the right of any Holder to convert a Note in accordance with this
Indenture, or to bring suit for the enforcement of such right, shall not be impaired or affected without the consent of the Holder. 

Section 6.08. Collection Suit by Trustee. If an Event of Default in payment of principal or interest specified in clause
(1) or (2) of Section 6.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust for the whole amount of principal and accrued interest remaining unpaid, together with interest
on overdue principal and, to the extent lawful, overdue installments of interest, in each case at the rate specified in the Notes, and such further amount as is sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other amounts due the Trustee hereunder. 

Section 6.09. Trustee May File Proofs of Claim. The Trustee may file proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee hereunder) and the
Holders allowed in any judicial proceedings relating to the Company or any Guarantor or their respective creditors or property, and is entitled and empowered to collect, receive and distribute any money, securities or other property payable or
deliverable upon conversion or exchange of the Notes or upon any such claims. Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make
such payments to the Trustee and, if the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agent and counsel, and any other amounts due the Trustee hereunder. Nothing in this Indenture will be deemed to empower the Trustee to authorize or consent to, or accept or adopt on behalf of any Holder, any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

  
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 Section 6.10. Priorities. If the Trustee collects any money pursuant to this Article,
it shall pay out the money in the following order: 
 First: to the Trustee for all amounts due to it hereunder; 

Second : to Holders for amounts then due and unpaid for principal of and interest on the Notes, ratably, without preference or priority
of any kind, according to the amounts due and payable on the Notes for principal and interest; and 
 Third: to the Company or as a
court of competent jurisdiction may direct. 
 The Trustee, upon written notice to the Company, may fix a record date and payment date for
any payment to Holders pursuant to this Section. 
 Section 6.11. Restoration of Rights and Remedies. If the Trustee or any
Holder has instituted a proceeding to enforce any right or remedy under this Indenture and the proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to the Holder, then, subject to any
determination in the proceeding, the Company, any Guarantors, the Trustee and the Holders will be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Company, any Guarantors, the
Trustee and the Holders will continue as though no such proceeding had been instituted. 
 Section 6.12. Undertaking for Costs.
In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court may require any party litigant in such suit (other than the Trustee) to file an
undertaking to pay the costs of the suit, and the court may assess reasonable costs, including reasonable attorneys fees, against any party litigant (other than the Trustee) in the suit having due regard to the merits and good faith of the claims or
defenses made by the party litigant. This Section does not apply to a suit by a Holder to enforce payment of principal of or interest on any Note on the respective due dates, or a suit by Holders of more than 10% in aggregate principal amount of the
outstanding Notes. 
 Section 6.13. Rights and Remedies Cumulative. No right or remedy conferred or reserved to the Trustee or
to the Holders under this Indenture is intended to be exclusive of any other right or remedy, and all such rights and remedies are, to the extent permitted by law, cumulative and in addition to every other right and remedy hereunder or now or
hereafter existing at law or in equity or otherwise. The assertion or exercise of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or exercise of any other right or remedy. 

Section 6.14. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder to exercise any right or remedy
accruing upon any Event of Default will impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

Section 6.15. Waiver of Stay, Extension or Usury Laws. The Company and each Guarantor covenants, to the extent that it may
lawfully do so, that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company or the
Guarantor from paying all or any portion of the principal of, or interest on, the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this Indenture. The
Company and each Guarantor hereby expressly waives, to the extent that it may lawfully do so, all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE 7 

THE TRUSTEE 

Section 7.01. General. 

  
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 (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act and
as set forth herein. Whether or not expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee is subject to this Article. 

(b) Except during the continuance of an Event of Default, the Trustee need perform only those duties that are specifically set forth in this
Indenture and no others, and no implied covenants or obligations will be read into this Indenture against the Trustee. In case an Event of Default has occurred and is continuing, the Trustee shall exercise those rights and powers vested in it by
this Indenture, and use the same degree of care and skill in its exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 

(c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act or its own willful misconduct, except that this paragraph does not limit the effect of subsection (b) of this Section 7.01. 

Section 7.02. Certain Rights of Trustee. Subject to Trust Indenture Act Sections 315(a) through (d): 

(1) In the absence of bad faith on its part, the Trustee may conclusively rely, and will be protected in acting or refraining
from acting, upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to
have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document, but, in the case of any document which is specifically required to be furnished to the Trustee pursuant to any provision
hereof, the Trustee shall examine the document to determine whether it conforms to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). The Trustee, in its
discretion, may make further inquiry or investigation into such facts or matters as it sees fit. 
 (2) Before the Trustee
acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel conforming to Section 12.05 and the Trustee will not be liable for any action it takes or omits to take in good faith in reliance on the
certificate or opinion. 
 (3) The Trustee may act through its attorneys and agents and will not be responsible for the
misconduct or negligence of any agent appointed with due care. 
 (4) The Trustee will be under no obligation to exercise any
of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders, unless such Holders have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that might be
incurred by it in compliance with such request or direction. 
 (5) The Trustee will not be liable for any action it takes or
omits to take in good faith that it believes to be authorized or within its rights or powers or for any action it takes or omits to take in accordance with the direction of the Holders in accordance with Section 6.05 relating to the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture. 

(6) The Trustee may consult with counsel, and the written advice of such counsel or any Opinion of Counsel will be full and
complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(7) No provision of this Indenture will require the Trustee to expend or risk its own funds or otherwise incur any financial
liability in the performance of its duties hereunder, or in the exercise of its rights or powers, unless it is offered reasonable security or indemnity against any loss, liability or expense. 

  
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 (8) In no event shall the Trustee be responsible or liable for special, indirect,
or consequential losses or damages, as the case may be, of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such losses or damages and regardless of the
form of action. 
 Section 7.03. Individual Rights of Trustee. The Trustee, in its individual or any other capacity, may become
the owner or pledgee of Notes and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not the Trustee. Any Agent may do the same with like rights. However, the Trustee is subject to Trust Indenture Act
Sections 310(b) and 311. For purposes of Trust Indenture Act Section 311(b)(4) and (6): 
 (a) “cash transaction” means
any transaction in which full payment for goods or securities sold is made within seven days after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and 

(b) “self-liquidating paper” means any draft, bill of exchange, acceptance or obligation which is made, drawn, negotiated or
incurred for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien upon, the goods, wares or
merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the creditor
relationship arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. 

Section 7.04. Trustee’s Disclaimer. The Trustee (i) is not responsible for and makes no representation as to the
validity or adequacy of this Indenture or the Notes, (ii) is not accountable for the Company’s use or application of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of
this Indenture, (iii) is not responsible for the use or application of any money received by any Paying Agent other than the Trustee, and (iv) is not responsible for any statement or recital herein or any statement in the Notes or any
other document delivered in connection with the sale of the Notes or pursuant to this Indenture other than its certificate of authentication. 

Section 7.05. Notice of Default. If any Default occurs and is continuing and is known to the Trustee, the Trustee will send notice
of the Default to each Holder within 90 days after it occurs or if discovered later than 90 days, promptly after such discovery, unless the Default has been cured; provided that, except in the case of a default in the payment of the principal of or
interest on any Note, the Trustee may withhold the notice if and so long as the board of directors, the executive committee or a trust committee of directors of the Trustee in good faith determines that withholding the notice is in the interest of
the Holders. Notice to Holders under this Section 7.05 will be given in the manner and to the extent provided in Trust Indenture Act Section 313(c). 

Section 7.06. Reports by Trustee to Holders. Within 60 days after each May 15, beginning with May 15, 2016, and for so
long as the Notes remain outstanding, the Trustee will mail to each Holder, as provided in Trust Indenture Act Section 313(c), a brief report dated as of such May 15, if required by Trust Indenture Act Section 313(a), and file such
reports with each stock exchange upon which its Notes are listed and with the SEC as required by Trust Indenture Act Section 313(d). 

Section 7.07. Compensation and Indemnity. 

(a) The Company will pay the Trustee compensation as agreed upon in writing for its services. The compensation of the Trustee is not limited
by any law on compensation of a Trustee of an express trust. The Company will reimburse the Trustee upon request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the Trustee, including the reasonable
compensation and expenses of the Trustee’s agents and counsel. 
 (b) The Company and the Guarantors will indemnify the Trustee and its
employees, officers, and directors for, and hold it harmless against, any loss or liability or expense incurred by it without negligence or 

  
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bad faith on its part arising out of or in connection with the acceptance or administration of this Indenture and its duties under this Indenture and the Notes, including the costs and expenses
of (i) enforcing this Indenture against the Company and the Guarantors (including this Section 7.07) and (ii) defending itself against any claim or liability and of complying with any process served upon it or any of its employees,
officers, or directors in connection with the exercise or performance of any of its powers or duties under this Indenture and the Notes. 

(c) To secure the Company’s and the Guarantors’ payment obligations in this Section 7.07, the Trustee will have a lien prior to
the Notes on all money or property held or collected by the Trustee, in its capacity as Trustee, except money or property held in trust to pay principal of, and interest on, particular Notes. Such lien will survive the satisfaction and discharge of
this Indenture. 
 (d) When the Trustee incurs expenses or renders services after the occurrence of an Event of Default under
Section 6.01(7), the expenses and the compensation for such services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under the Bankruptcy Code of the United States. 

(e) The obligations of the Company and the Guarantors under this Section 7.07 will survive the satisfaction and discharge of this
Indenture. 
 Section 7.08. Replacement of Trustee. 

(a) (1) The Trustee may resign at any time and be discharged of the trust hereby created by written notice to the Company. 

(2) The Holders of a majority in aggregate principal amount of the outstanding Notes may remove the Trustee by written notice
to the Trustee. 
 (3) If the Trustee is no longer eligible under Section 7.10 or in the circumstances described in
Trust Indenture Act Section 310(b), any Holder that satisfies the requirements of Trust Indenture Act Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee. 
 (4) The Company may remove the Trustee if: (i) the Trustee is no longer eligible under Section 7.10;
(ii) the Trustee is adjudged a bankrupt or an insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee becomes incapable of acting. 

A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08. 
 (b) If the Trustee has been removed by the Holders, Holders of a
majority in aggregate principal amount of the Notes may appoint a successor Trustee with the consent of the Company. Otherwise, if the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Company will
promptly appoint a successor Trustee. If the successor Trustee does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in aggregate
principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Company, (i) the
retiring Trustee will transfer all property held by it as Trustee to the successor Trustee; provided that all sums owing to the Trustee hereunder have been paid and subject to the lien provided for in Section 7.07(c), (ii) the
resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Company will
execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Company will give notice of any resignation and any removal of the Trustee and each appointment of a successor
Trustee to all Holders, and include in the notice the name of the successor Trustee and the address of its Corporate Trust Office. 

  
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 (d) Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the
Company’s and the Guarantors’ obligations under Section 7.07 will continue for the benefit of the retiring Trustee. 
 (e)
The Trustee agrees to give the notices provided for in, and otherwise comply with, Trust Indenture Act Section 310(b). 
 Section 7.09.
Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation or national banking association, the resulting, surviving or
transferee corporation or national banking association without any further act will be the successor Trustee with the same effect as if the successor Trustee had been named as the Trustee in this Indenture. 

Section 7.10. Eligibility. This Indenture must always have a Trustee that satisfies the requirements of Trust Indenture Act
Section 310(a) and has a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. 

Section 7.11. Money Held in Trust. The Trustee will not be liable for interest on any money received by it except as it may agree
in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law and except for money held in trust under Article 8. 

Section 7.12. Trustee in Other Capacities. References to the Trustee in Sections 7.01(a), 7.01(b), 7.02, 7.03, 7.04, 7.07, 7.08, and
7.11 shall be understood to include the Trustee when acting in other capacities under this Indenture, including, without limitation, as Paying Agent. 

ARTICLE 8 
 DISCHARGE

 Section 8.01. Discharge of Company’s Obligations. 

(a) Subject to paragraph (b), the Company’s obligations under the Notes and this Indenture (other than the Company’s obligations
under Article 10 of the Indenture and Section 3 of the Notes), and each Guarantor’s obligations under its Note Guarantee, will terminate if: 

(1) all Notes previously authenticated and delivered (other than (i) destroyed, lost or stolen Notes that have been
replaced or (ii) Notes that are paid pursuant to Section 4.01 or (iii) Notes for whose payment money or U.S. Government Obligations have been held in trust and then repaid to the Company pursuant to Section 8.05) have been
delivered to the Trustee for cancellation and the Company has paid all sums payable by it hereunder; or 
 (2) if
(A) the Notes mature within 60 days or all of them are to be called for redemption within 60 days under arrangements satisfactory to the Trustee for the giving of notice of redemption, 

(B) the Company irrevocably deposits in trust with the Trustee, as trust funds solely for the benefit of the Holders, money or
U.S. Government Obligations or a combination thereof sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certificate delivered to the Trustee, without consideration of any reinvestment,
to pay principal of, premium, if any, interest and Early Conversion Payment on the Notes and satisfy all obligations due and owing on all outstanding Notes to final Stated Maturity or redemption, as the case may be, and to pay all other sums payable
by it hereunder, and 

  
 60 

 (C) the Company delivers to the Trustee an Officers’ Certificate and an
Opinion of Counsel, in each case stating that all conditions precedent provided for herein relating to the satisfaction and discharge of this Indenture have been complied with. 

(b) After satisfying the conditions in clause (1), only the Company’s obligations under Section 7.07 will survive. After satisfying
the conditions in clause (2), only the Company’s obligations in Article 2 and Sections 4.02, 7.07, 7.08, 8.05 and 8.06 will survive. In either case, the Trustee upon request will acknowledge in writing the discharge of the Company’s
obligations under the Notes and this Indenture other than the surviving obligations. 
 Section 8.02. [Reserved]. 

Section 8.03. [Reserved]. 

Section 8.04. Application of Trust Money. Subject to Section 8.05, the Trustee will hold in trust the money or U.S.
Government Obligations deposited with it pursuant to Section 8.01, and apply the deposited money and the proceeds from deposited U.S. Government Obligations to the payment of principal of and interest on the Notes in accordance with the Notes
and this Indenture. Such money and U.S. Government Obligations need not be segregated from other funds except to the extent required by law. 

Section 8.05. Repayment to Company. Subject to Sections 7.07 and 8.01, the Trustee will promptly pay to the Company upon request
any excess money held by the Trustee at any time and thereupon be relieved from all liability with respect to such money. The Trustee will pay to the Company upon request any money held for payment with respect to the Notes that remains unclaimed
for two years, provided that, if any Certificated Note is then outstanding, before making such payment the Trustee may at the expense and written direction of the Company publish once in a newspaper of general circulation in New York City, or
send to each Holder entitled to such money, notice that the money remains unclaimed and that after a date specified in the notice (at least 30 days after the date of the publication or notice) any remaining unclaimed balance of money will be repaid
to the Company. After payment to the Company, Holders entitled to such money must look solely to the Company for payment, unless applicable law designates another Person, and all liability of the Trustee with respect to such money will cease. 

Section 8.06. Reinstatement. If and for so long as the Trustee is unable to apply any money or U.S. Government Obligations held in
trust pursuant to Section 8.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under
this Indenture and the Notes will be reinstated as though no such deposit in trust had been made. If the Company makes any payment of principal of or interest on any Notes because of the reinstatement of its obligations, it will be subrogated to the
rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held in trust. 
 ARTICLE 9

 AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 9.01. Amendments Without Consent of Holders. Notwithstanding Section 9.02 below, the Company, the Guarantors and the
Trustee may amend, modify or supplement this Indenture or the Notes without notice to or the consent of any Noteholder 
 (1)
to cure any ambiguity, defect or inconsistency in this Indenture or the Notes; 
 (2) to comply with Article 5; 

(3) to evidence and provide for the acceptance of an appointment hereunder by a successor Trustee; 

(4) to provide for uncertificated Notes in addition to or in place of certificated Notes; 

  
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 (5) to provide for any Guarantee of the Notes, to secure the Notes or to confirm
and evidence the release, termination or discharge of any Guarantee of or Lien securing the Notes when such release, termination or discharge is permitted by this Indenture; 

(6) to provide for or confirm the issuance of Additional Notes; 

(7) to conform the text of this Indenture or the Notes to any provision of the “Description of Notes” section of the
Offering Memorandum to the extent that such provision in such “Description of Notes” section was intended to be a verbatim recitation of a provision of the indenture governing the Company’s 8.125% Senior Notes due 2022 outstanding on
the Issue Date, which provisions are substantially similar to corresponding provisions of this Indenture; 
 (8) to make any
other change that does not materially and adversely affect the rights of any Holder, including any increase in the Conversion Rate or other consideration due upon conversion of the Notes (whether or not subject to time limitations or other
conditions); 
 (9) to comply with Section 10.12; or 

(10) to make provision with respect to adjustments to the Conversion Rate as required by this Indenture or to increase the
Conversion Rate in accordance with this Indenture. 
 Section 9.02. Amendments With Consent of Holders. 

(a) Except as otherwise provided in Sections 6.02, 6.04 and 6.07 or paragraph (b), the Company, the Guarantors and the Trustee may amend,
modify or supplement this Indenture and the Notes with the consent of the Holders of a majority in aggregate principal amount of the outstanding Notes, and the Holders of a majority in aggregate principal amount of the outstanding Notes may waive
future compliance by the Company with any provision of this Indenture or the Notes. Such an amendment, modification, supplement or waiver shall become effective upon receipt by the Trustee of evidence of the requisite consents, and in relation to
any Notes evidenced by Global Notes, such consents need not be in written form and may be evidenced by any electronic transmissions that comport with the procedures of the Depositary. 

(b) Notwithstanding the provisions of paragraph (a), without the consent of each Holder affected, an amendment, modification, supplement or
waiver may not 
 (1) reduce the principal amount of or change the Stated Maturity of any installment of principal of any
Note, 
 (2) reduce the rate of or change the Stated Maturity of any interest payment on any Note, 

(3) reduce the amount payable upon the optional redemption of any Note or change the times at which any Note may be redeemed
or, once notice of redemption has been given, the time at which it must thereupon be redeemed, 
 (4) after the time an Offer
to Purchase is required to have been made, reduce the purchase amount or purchase price, or extend the latest expiration date or purchase date thereunder, 

(5) make any Note payable in money other than that stated in the Note, 

(6) impair the right of any Holder of Notes to receive any principal payment or interest payment on such Holder’s Notes,
on or after the Stated Maturity thereof, or to institute suit for the enforcement of any such payment, or due upon the conversion of any Note, 

  
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 (7) make any change in the percentage of the principal amount of the Notes
required for amendments or waivers, 
 (8) modify or change any provision of this Indenture affecting the ranking of the
Notes or any Note Guarantee in a manner adverse to the Holders of the Notes, 
 (9) make any change in any Note Guarantee
that would adversely affect the Noteholders, or 
 (10) reduce the consideration due upon conversion or otherwise adversely
affect the right of Holders to convert Notes in accordance with Article 10. 
 (c) It is not necessary for Noteholders to approve the
particular form of any proposed amendment, modification, supplement or waiver, but is sufficient if their consent approves the substance thereof. 

(d) An amendment, modification, supplement or waiver under this Section will become effective on receipt by the Trustee of consents from the
Holders of the requisite percentage in principal amount of the outstanding Notes. After an amendment, modification, supplement or waiver under this Section becomes effective, the Company will send to the Holders affected thereby a notice briefly
describing the amendment, modification, supplement or waiver. The Company will send copies of any documents pursuant to which any such amendment, modification, supplement or waiver has been effected to Holders upon request. Any failure of the
Company to send such notice or copies, or any defect therein, will not, however, in any way impair or affect the validity of any such amendment, modification, supplement or waiver. 

Section 9.03. Effect of Consent. 

(a) After an amendment, modification, supplement or waiver becomes effective, it will bind every Holder unless it is of the type requiring the
consent of each Holder affected. If the amendment, modification, supplement or waiver is of the type requiring the consent of each Holder affected, the amendment, modification, supplement or waiver will bind each Holder that has consented to it and
every subsequent Holder of a Note that evidences the same debt as the Note of the consenting Holder. 
 (b) If an amendment, modification,
supplement or waiver changes the terms of a Note, the Trustee may require the Holder to deliver it to the Trustee so that the Trustee may place an appropriate notation of the changed terms on the Note and return it to the Holder, or exchange it for
a new Note that reflects the changed terms. The Trustee may also place an appropriate notation on any Note thereafter authenticated. However, the effectiveness of the amendment, modification, supplement or waiver is not affected by any failure to
annotate or exchange Notes in this fashion. 
 Section 9.04. Trustee’s Rights and Obligations. The Trustee is entitled to
receive, and will be fully protected in relying upon, an Opinion of Counsel stating that the execution of any amendment, modification, supplement or waiver authorized pursuant to this Article is authorized or permitted by this Indenture. If the
Trustee has received such an Opinion of Counsel, it shall sign the amendment, modification, supplement or waiver so long as the same does not adversely affect the rights of the Trustee. The Trustee may, but is not obligated to, execute any
amendment, modification, supplement or waiver that affects the Trustee’s own rights, duties or immunities under this Indenture. 

Section 9.05. [Reserved]. 

Section 9.06. Payments for Consents. Neither the Company nor any of its Restricted Subsidiaries may, directly or indirectly, pay
or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver, amendment or modification of any of the terms or provisions of this Indenture or the Notes unless such
consideration is offered to be paid or agreed to be paid to all Holders of the Notes that consent, waive or agree to amend or modify such term or provision within the time period set forth in the solicitation documents relating to the consent,
waiver, amendment or modification. 

  
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 ARTICLE 10 

CONVERSION 

Section 10.01. Conversion. 

(a) Subject to compliance with Section 10.02, a Holder shall have the right to convert all or any portion (if such portion is $1,000
principal amount or an integral multiple of $1,000 principal amount) of its Notes (“Early Conversion”), at any time from the date of issuance up until the close of business on the earlier of (i) if applicable, the fifth
Business Day following the date of a Mandatory Conversion Notice for such Note delivered in accordance with Section 10.01(b), (ii) if applicable, with respect to a Note called for redemption, the Business Day immediately preceding the
redemption date or (iii) the Business Day immediately preceding the maturity date, into a number of shares of Common Stock per $1,000 principal amount of Notes being converted equal to the Conversion Rate then in effect (plus cash in lieu of
fractional shares of Common Stock in accordance with Section 10.03). In addition, upon an Early Conversion, a Holder shall have the right to receive in cash, with respect to its Notes being converted, per $1,000 principal amount of Notes,
(x) in the event the Early Conversion Date occurs on or prior to August 19, 2017, the Early Conversion Payment and (y) in all cases, accrued and unpaid interest to the Early Conversion Date. For the avoidance of doubt, in the event of
an Early Conversion with an Early Conversion Date after August 19, 2017, Holders shall not be entitled to receive the Early Conversion Payment. 

(b) The Company shall have the right to convert the Notes (“Mandatory Conversion”), in whole or in part, into a number
of shares of Common Stock per $1,000 principal amount of Notes equal to the Conversion Rate then in effect (plus cash in lieu of fractional shares of Common Stock in accordance with Section 10.03)), at any time and from time to time if each of
the following conditions are satisfied: (i) the VWAP of the Common Stock (or other security into which the Notes are convertible pursuant to Section 10.12) exceeds the Threshold Price in effect on each applicable Trading Day for at least
20 Trading Days (whether or not consecutive) during any period of 30 consecutive Trading Days (the “VWAP Condition”) and (ii) the Company delivers to the Holders, the Trustee and the Conversion Agent (if other than the Trustee)
a notice of the Company’s election of its right to convert the Notes no later than the open of business on the third Business Day immediately following the 20th Trading Day of any such 30
Trading Day period (a “Mandatory Conversion Notice”), which notice shall specify that the Mandatory Conversion shall occur on the sixth Business Day following the date of such notice (the “Mandatory Conversion
Date”); provided that, the Company’s right to cause a Mandatory Conversion shall be suspended during the period beginning on the date an Offer to Purchase is made in connection with a Change of Control and
continuing to, and including, the purchase date (as defined in Section 3.04) relating to the Offer to Purchase made in connection with such Change of Control. For the avoidance of doubt, in the event of a Mandatory Conversion if a Holder has
not submitted an Early Conversion prior to the close of business on the fifth Business Day following the date of the Mandatory Conversion Notice, Holders shall not be entitled to receive the Early Conversion Payment or, except as provided in
Section 10.02(f), accrued and unpaid interest. The Mandatory Conversion Notice shall state that the Company is exercising its right to cause a Mandatory Conversion, the Conversion Rate and Conversion Price in effect on the Mandatory Conversion
Date. 
 Notwithstanding the foregoing, the Company may only exercise its right to cause a Mandatory Conversion if, as
evidenced by an Officers’ Certificate delivered to the Trustee and the Conversion Agent (if other than the Trustee) on the Mandatory Conversion Date, all of the conditions listed below (the “Equity Conditions”) are satisfied on
each day during the period (x) commencing on, and including, the date of the Mandatory Conversion Notice and (y) ending on, and including, the Mandatory Conversion Date (the “Equity Conditions Measuring Period”). The
Equity Conditions are as follows: 
 (i) either (1) all shares of Common Stock issuable upon conversion of the Notes and held by
a non-Affiliate of the Company shall be eligible for sale without the need for registration under any applicable federal or state securities laws or (2) a shelf registration statement registering the resale of the shares of Common Stock
issuable upon conversion of the Notes has been filed by the Company and been declared effective by the SEC or is automatically effective and is available for use, and the Company expects such shelf registration statement to remain effective and
available for use from the Mandatory Conversion Date until thirty days following the Mandatory Conversion Date; 

  
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 (ii) if Common Stock (or other security into which the Notes are convertible pursuant to
Section 10.12) is to be delivered on such conversion, such Common Stock (or other security) is listed or traded on The New York Stock Exchange, The NASDAQ Global Select Market, The NASDAQ Global Market, The NASDAQ Capital Market, or any of
their respective successors (each, an “Eligible Market”) and shall not then be suspended from trading on such Eligible Market; 

(iii) at or prior to the settlement date of the Mandatory Conversion, for any Notes validly surrendered for conversion with an Early
Conversion Date prior to the Mandatory Conversion Date in accordance with the terms of this Indenture, the Company shall have delivered and paid the number of shares of Common Stock and the amount of cash due upon conversion of the Notes to the
Holders in accordance with Section 10.01(a); 
 (iv) any applicable shares of Common Stock to be issued upon conversion may be issued
in full without violating the rules or regulations of The New York Stock Exchange or any other applicable Eligible Market on which the Common Stock delivered upon conversion is then listed or trading; and 

(v) no Event of Default shall have occurred and be continuing. 

For the avoidance of doubt, the Company may exercise its right to cause more than one Mandatory Conversion so long as any Notes are
outstanding so long as it complies with the other requirements of this Section 10.01(b). If the Company exercises its right to cause Mandatory Conversion in part, the Conversion Agent will select the Notes to be converted pro rata, by lot or by
any other method the Conversion Agent in its sole discretion deems fair and appropriate (or, in the case of Notes represented by Global Notes, in such manner as DTC may require), in denominations of $1,000 principal amount and multiples thereof.

 Section 10.02. Conversion Procedure and Payment Upon Conversion. 

(a) To convert its Note pursuant to an Early Conversion, a Holder of a Certificated Note must: 

(1) complete and manually sign the Conversion Notice, with appropriate signature guarantee, or facsimile of the Conversion
Notice and deliver the completed Conversion Notice (which shall be irrevocable) to the Conversion Agent; 
 (2) surrender the
Note to the Conversion Agent; 
 (3) furnish appropriate endorsements and transfer documents if required by the Registrar or
Conversion Agent; 
 (4) pay all transfer or similar taxes if required pursuant to Section 10.04; and 

(5) pay funds equal to interest payable on the next Interest Payment Date required by Section 10.02(e). 

If a Holder holds a beneficial interest in a Global Note, to convert such Note, the Holder must comply with clauses
(4) and (5) above and the Depositary’s procedures for converting a beneficial interest in a Global Note. 
 (b) 

(1) Upon conversion of a Holder’s Note in an Early Conversion, the Company shall deliver to such converting Holder,
through the Conversion Agent, a number of shares of Common Stock per $1,000 principal amount of Notes being converted equal to the Conversion Rate in effect on the applicable Early Conversion Date (plus cash in lieu of fractional shares in
accordance with Section 10.03). In addition, the Company shall deliver, through the Conversion Agent, with respect to the Notes being converted, cash in an amount per $1,000 principal amount of Notes

  
 65 

 
equal to the Early Conversion Payment, if owed pursuant to Section 10.01(a), and accrued and unpaid interest to the Early Conversion Date. If a Holder converts more than one Note at the same
time, the full number of shares of Common Stock issued upon such conversion (and, as a result, the amount of cash deliverable in lieu of any fractional share of Common Stock) and the amount of cash deliverable in respect of the Early Conversion
Payment, if owed pursuant to Section 10.01(a), and accrued and unpaid interest shall be based on the aggregate principal amount of Notes converted by such Holder. Settlement shall occur on the third Business Day immediately following the
applicable Early Conversion Date, except that with respect to any Early Conversion with an Early Conversion Date after the Company has given a Mandatory Conversion Notice, settlement will occur on the settlement date for the Mandatory Conversion.

 (2) Upon conversion of the Notes in a Mandatory Conversion, the Company shall deliver to each Holder, through the
Conversion Agent, a number of shares of Common Stock per $1,000 principal amount of Notes equal to the Conversion Rate in effect on the Mandatory Conversion Date (plus cash in lieu of fractional shares in accordance with Section 10.03). The
full number of shares of Common Stock issued upon such conversion (and, as a result, the amount of cash deliverable in lieu of any fractional share of Common Stock) shall be based on the aggregate principal amount of Notes outstanding. Settlement
shall occur on the third Business Day immediately following the Mandatory Conversion Date. 
 (3) The shares of Common Stock
due upon conversion of a Global Note shall be delivered by the Company in accordance with the Depositary’s customary practices. 
 (c)
Notes surrendered for conversion will be deemed converted at the close of business on the applicable Conversion Date, and the Person in whose name the shares of Common Stock shall be issued upon such conversion shall become the holder of record of
such shares as of the close of business on such Conversion Date. Prior to such time, a Holder receiving shares of Common Stock upon conversion shall not be entitled to any rights relating to such shares of Common Stock, including, among other
things, the right to vote, tender in a tender offer and receive dividends and notices of shareholder meetings. On and after the close of business on the applicable Conversion Date with respect to a conversion of a Note pursuant hereto, all rights of
the Holder of such Note shall terminate, other than the right to receive the consideration deliverable or payable upon conversion of such Note as provided in Section 10.02(b). 

(d) Except as provided in this Article 10, no payment or other adjustment will be made for accrued interest on any Notes converted, and
accrued interest, if any, will be deemed to be paid by the consideration paid to the Holder upon conversion. Such accrued interest, if any, shall be deemed to be paid in full rather than cancelled, extinguished or forfeited. 

(e) If any Holder surrenders a Note for Early Conversion after the close of business on the Regular Record Date but prior to the open
of business on the next Interest Payment Date, then, notwithstanding such conversion, the full amount of interest payable with respect to such Note on such Interest Payment Date shall be paid on such Interest Payment Date to the Holder of record of
such Note at the close of business on such Regular Record Date; provided, however, that such Note, when surrendered for conversion, must be accompanied by payment in cash to the Conversion Agent of an amount equal to the full amount of
interest payable on such Interest Payment Date on the Note so converted. For the avoidance of doubt, in accordance with Section 10.01(a), such converting Holder shall be entitled to receive accrued and unpaid interest to the Early Conversion
Date and such amount of cash shall be delivered to such converting Holder in accordance with Section 10.02(b)(1). 
 (f) In the event
a Mandatory Conversion Date falls after the close of business on the Regular Record Date but prior to the open of business on the next Interest Payment Date, then, notwithstanding such conversion, the full amount of interest payable with respect to
such Note on such Interest Payment Date shall be paid on such Interest Payment Date to the Holder of record of such Note at the close of business on such Regular Record Date. In such event, the Holders shall be entitled to retain the full amount of
interest payable on such Interest Payment Date. 

  
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 (g) Upon surrender of a Note that is converted in part, the Trustee shall authenticate for the
Holder a new Note equal in principal amount to the unconverted portion of the Note surrendered. 
 Section 10.03. Cash in Lieu of
Fractional Shares. The Company will not issue a fractional share of Common Stock upon conversion of a Note. Instead, the Company shall pay cash in lieu of fractional shares based on the VWAP of the Common Stock on the applicable Conversion Date
(or, if such Conversion Date is not a Trading Day, the VWAP of the Common Stock on the Trading Day immediately preceding such Conversion Date). 

Section 10.04. Taxes on Conversion. The Company shall pay any documentary, stamp or similar issue or transfer tax or duty due on
the issue, if any, of Common Stock upon the conversion of a Note. However, such Holder shall pay any such tax or duty that is due because such shares are issued in a name other than such Holder’s name. The Conversion Agent may refuse to deliver
a certificate representing the Common Stock to be issued in a name other than such Holder’s name until the Conversion Agent receives a sum sufficient to pay any tax or duty which will be due because such shares are to be issued in a name other
than such Holder’s name. 
 Section 10.05. Company to Reserve, Provide and List Common Stock. The Company shall at all
times reserve out of its authorized but unissued Common Stock or Common Stock held in its treasury a sufficient number of shares of Common Stock to permit the conversion, in accordance herewith, of all of the Notes (assuming, for such purposes, that
at the time of computation of such number of shares, all such Notes would be converted by a single Holder). 
 All shares of Common Stock
issued upon conversion of the Notes shall be validly issued, fully paid and non-assessable and shall be free of preemptive or similar rights and free of any lien or adverse claim that arises from the action or inaction of the Company. 

The Company shall comply with all securities laws regulating the offer and delivery of shares of Common Stock upon conversion of Notes and
shall list such shares on each national securities exchange or automated quotation system on which the shares of Common Stock are listed on the applicable Conversion Date. 

Section 10.06. Adjustment of Conversion Rate. The Conversion Rate shall be subject to adjustment from time to time, without
duplication, upon the occurrence of any of the following events: 
 (a) If the Company issues shares of Common Stock as a dividend or
distribution on all shares of the Common Stock, or if the Company effects a share split or share combination (including a “reverse split”), the Conversion Rate shall be adjusted based on the following formula: 

 

					
	 CR’ = CR0 x
	  	 	OS’	  
	  	 	OS0	  

  

			
	where,	  	
		
	  CR0 =	  	the Conversion Rate in effect immediately prior to the close of business on the record date for such dividend or distribution, or immediately prior to open of business on the effective date of such share split or share
combination, as the case may be;
		
	  CR’ =	  	the Conversion Rate in effect immediately after the close of business on the record date for such dividend or distribution, or immediately after the open of business on the effective date of such share split or share combination,
as the case may be;
		
	  OS0 =	  	the number of shares of Common Stock outstanding immediately prior to the close of business on the record date for such dividend or distribution, or immediately prior to the open of business on the effective date of such share
split or share combination, as the case may be; and

  
 67 

			
	  OS’ =	  	the number of shares of Common Stock outstanding immediately after such dividend or distribution, or such share split or share combination, as the case may be.

 Any adjustment made under this Section 10.06(a) shall become effective immediately after the close
of business on the record date for such dividend or distribution, or immediately after the open of business on the effective date for such share split or share combination, as the case may be. If any dividend or distribution of the type described in
this Section 10.06(a) is declared but not so paid or made, then the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Conversion Rate
that would then be in effect if such dividend or distribution had not been declared. 
 (b) In addition to the foregoing adjustments in
subsection (a) above, the Company may, from time to time and to the extent permitted by law, increase the Conversion Rate by any amount for a period of at least 20 Business Days or any longer period as may be permitted or required by law, if
the Board of Directors has made a determination, which determination shall be conclusive, that such increase would be in the best interests of the Company. Such Conversion Rate increase shall be irrevocable during such period. The Company shall give
notice to the Trustee and cause notice of such increase to be mailed to each Holder of Notes at such Holder’s address as the same appears on the registry books of the Registrar, at least 15 days prior to the date on which such increase
commences. 
 (c) All calculations under this Article 10 shall be made to the nearest cent or to the nearest 1/10,000th of a share, as the
case may be. Adjustments to the Conversion Rate will be calculated to the nearest 1/10,000th. 
 Section 10.07. No Adjustment.

 The Conversion Rate shall not be adjusted for any transaction or event other than as specified in this Article 10. 

Section 10.08. [Reserved]. 

Section 10.09. Adjustments for Tax Purposes. Except as prohibited by law, the Company may (but is not obligated to) increase the
Conversion Rate, in addition to those required by Section 10.06 hereof, as it determines to be advisable in order that any stock dividend, subdivision of shares, distribution of rights to purchase stock or securities or distribution of
securities convertible into or exchangeable for stock made by the Company or to its shareholders will not be taxable to the recipients thereof or in order to avoid or diminish any such taxation. 

Section 10.10. Notice of Adjustment. Whenever the Conversion Rate is adjusted, the Company shall promptly mail to Holders at the
addresses appearing on the Registrar’s books a notice of the adjustment and file with the Trustee an Officers’ Certificate briefly stating the facts requiring the adjustment and the manner of computing it. The certificate shall be
conclusive evidence of the correctness of such adjustment. 
 Section 10.11. Notice of Certain Transactions. In the event that:

 (a) the Company takes any action that would require an adjustment in the Conversion Rate, 

(b) the Company takes any action that would require a supplemental indenture pursuant to Section 10.12, or 

(c) there is a dissolution or liquidation of the Company, 

the Company shall promptly mail to Holders at the addresses appearing on the Registrar’s books and the Trustee a written notice stating the proposed
record date and effective date of the transaction referred to in clause (a), (b) or (c) of this Section 10.11. 

  
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 Section 10.12. Effect of Reclassifications, Consolidations, Mergers, Binding Share
Exchanges or Sales on Conversion Privilege. If the Company: 
 (a) reclassifies the Common Stock (other than a change only in par value,
or from par value to no par value, or from no par value to par value, or a change as a result of a subdivision or combination of Common Stock to which Section 10.06(a) applies); 

(b) is party to a consolidation, merger or binding share exchange; or 

(c) sells, transfers, leases, conveys or otherwise disposes of all or substantially all of the consolidated property or assets of the Company,

 in each case, pursuant to which the Common Stock would be converted into or exchanged for, or would constitute solely the right to receive, cash,
securities or other property (any such event, a “Merger Event”), each $1,000 principal amount of Notes will, from and after the effective time of such Merger Event, in lieu of being convertible into Common Stock, be convertible into
the same kind, type and proportions of consideration that a holder of a number of shares of Common Stock equal to the Conversion Rate in effect immediately prior to such Merger Event would have received in such Merger Event (“Reference
Property”) and, prior to or at the effective time of such Merger Event, the Company or the successor or purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture permitted under Section 9.01(10)
providing for such change in the right to convert the Notes.  
 If the Merger Event causes the Common Stock to be converted into, or
exchanged for, the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), then: 

(i) the Reference Property into which the Securities will be convertible shall be deemed to be the weighted average of the types and amounts of
consideration received by the holders of Common Stock that affirmatively make such an election; and 
 (ii) the unit of Reference Property
for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one share of Common Stock. 

The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such
determination is made. 
 The supplemental indenture referred to in the first sentence of this Section 10.12 shall, in the good faith
judgment of the Company as evidenced by an Officers’ Certificate, (i) provide for adjustments to the Conversion Rate that shall be as nearly equivalent as may be practicable to the adjustments of the Conversion Rate provided for in this
Article 10 and for the delivery of cash by the Company in lieu of fractional securities or property that would otherwise be deliverable to holders upon conversion as part of the Reference Property, with such amount of cash determined by the Company
in a manner as nearly equivalent as may be practicable to that used by the Company to determine the VWAP of the Common Stock and (ii) provide that after the Merger Event, the VWAP Condition (and related calculations) shall be determined with
reference to the trading value of the Reference Property as determined in good faith by the Company in a manner as nearly equivalent as may be practicable to that used by the Company to determine the VWAP of the Common Stock. If the Reference
Property includes shares of stock, other securities or other property or assets (including any combination thereof) of a company other than the Company or the successor or purchasing entity, as the case may be, in such Merger Event, then such other
company shall also execute such supplemental indenture, and such supplemental indenture shall contain such additional provisions to protect the interests of the Holders, including the right of Holders to require the Company to repurchase their Notes
upon a Change of Control in accordance with Section 4.13, as the Board of Directors shall reasonably consider necessary by reason of the foregoing. The provisions of this Section 10.12 shall similarly apply to successive consolidations,
mergers, binding share exchanges, sales, transfers, leases, conveyances or dispositions. 
 The Company shall not become a party to any
Merger Event unless its terms are consistent with this Section 10.12. 

  
 69 

 None of the foregoing provisions shall affect the right of a Holder to convert its Securities
into shares of Common Stock (and cash in lieu of any fractional share) as set forth in Section 10.01(a) and Section 10.02 prior to the effective date of such Merger Event, or the right of the Company to effect a Mandatory Conversion in
accordance with Section 10.01(b). 
 In the event the Company shall execute a supplemental indenture pursuant to this
Section 10.12, the Company shall promptly file with the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of Reference Property receivable by Holders of the Notes upon the conversion of their Notes
after any such Merger Event and any adjustment to be made with respect thereto. 
 Section 10.13. Trustee’s Disclaimer. The
Trustee has no duty to determine when an adjustment under this Article 10 should be made, how it should be made or what such adjustment should be, but may accept as conclusive evidence of the correctness of any such adjustment, and shall be
protected in relying upon, the Officers’ Certificate with respect thereto which the Company is obligated to file with the Trustee pursuant to Section 10.10 hereof. The Trustee makes no representation as to the validity or value of any
securities or assets issued upon conversion of Notes, and the Trustee shall not be responsible for the failure by the Company to comply with any provisions of this Article 10. 

The Trustee shall not be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture
executed pursuant to Section 10.12, but may accept as conclusive evidence of the correctness thereof, and shall be protected in relying upon, the Officers’ Certificate with respect thereto which the Company is obligated to file with the
Trustee pursuant to Section 10.12 hereof. 
 ARTICLE 11 

GUARANTEES 

Section 11.01. The Guarantees. Subject to the provisions of this Article, each Guarantor hereby fully and unconditionally
Guarantees, jointly and severally, on an unsecured senior basis, the full and punctual payment (whether at Stated Maturity, upon redemption, purchase pursuant to an Offer to Purchase or acceleration, or otherwise) of the principal of, premium, if
any, and interest on, and all other amounts payable under, each Note, and the full and punctual payment of all other amounts payable by the Company under this Indenture. Upon failure by the Company to pay punctually any such amount, each Guarantor
shall forthwith on demand pay the amount not so paid at the place and in the manner specified in this Indenture. 
 Section 11.02.
Guarantee Unconditional. The obligations of each Guarantor hereunder are unconditional and absolute and, without limiting the generality of the foregoing, will not be released, discharged or otherwise affected by 

(1) any extension, renewal, settlement, compromise, waiver or release in respect of any obligation of the Company under this
Indenture or any Note, by operation of law or otherwise; 
 (2) any modification or amendment of or supplement to this
Indenture or any Note; 
 (3) any change in the corporate existence, structure or ownership of the Company, or any
insolvency, bankruptcy, reorganization or other similar proceeding affecting the Company or its assets or any resulting release or discharge of any obligation of the Company contained in this Indenture or any Note; 

(4) the existence of any claim, set off or other rights which the Guarantor may have at any time against the Company, the
Trustee or any other Person, whether in connection with this Indenture or any unrelated transactions, provided that nothing herein prevents the assertion of any such claim by separate suit or compulsory counterclaim; 

(5) any invalidity or unenforceability relating to or against the Company for any reason of this Indenture or any Note, or any
provision of applicable law or regulation purporting to prohibit the payment by the Company of the principal of or interest on any Note or any other amount payable by the Company under this Indenture; or 

  
 70 

 (6) any other act or omission to act or delay of any kind by the Company, the
Trustee or any other Person or any other circumstance whatsoever which might, but for the provisions of this paragraph, constitute a legal or equitable discharge of or defense to such Guarantor’s obligations hereunder, other than payment in
full of the principal of, premium, if any, and interest on the Notes and all other amounts payable by the Company under this Indenture. 

Section 11.03. Discharge; Reinstatement. Subject to Section 11.09, each Guarantor’s obligations hereunder will remain in
full force and effect until the principal of, premium, if any, and interest on the Notes and all other amounts payable by the Company under this Indenture have been paid in full. If at any time any payment of the principal of, premium, if any, or
interest on any Note or any other amount payable by the Company under this Indenture is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Company or otherwise, each Guarantor’s
obligations hereunder with respect to such payment will be reinstated as though such payment had been due but not made at such time. 

Section 11.04. Waiver by the Guarantors. Each Guarantor irrevocably waives acceptance hereof, presentment, demand, protest and any
notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against the Company or any other Person. 

Section 11.05. Subrogation and Contribution. Upon making any payment with respect to any obligation of the Company under this
Article, the Guarantor making such payment will be subrogated to the rights of the payee against the Company with respect to such obligation, provided that the Guarantor may not enforce either any right of subrogation, or any right to receive
payment in the nature of contribution, or otherwise, from any other Guarantor, with respect to such payment so long as any amount payable by the Company hereunder or under the Notes remains unpaid. 

Section 11.06. Stay of Acceleration. If acceleration of the time for payment of any amount payable by the Company under this
Indenture or the Notes is stayed upon the insolvency, bankruptcy or reorganization of the Company, all such amounts otherwise subject to acceleration under the terms of this Indenture are nonetheless payable by the Guarantors hereunder forthwith on
demand by the Trustee or the Holders. 
 Section 11.07. Limitation on Amount of Guarantee. Notwithstanding anything to the
contrary in this Article, each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Note Guarantee of such Guarantor not constitute a fraudulent conveyance under applicable
fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. To effectuate that intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor
under its Note Guarantee are limited to the maximum amount that would not render the Guarantor’s obligations subject to avoidance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision
of state law. 
 Section 11.08. Delivery of Guarantee. The execution by each Guarantor of this Indenture (or a Supplemental
Indenture) evidences the Note Guarantee of such Guarantor, whether or not the person signing as an officer of the Guarantor still holds that office at the time of authentication of any Note. The delivery of any Note by the Trustee after
authentication constitutes due delivery of the Note Guarantee set forth in this Indenture on behalf of each Guarantor. 

Section 11.09. Release of Note Guarantee. The Note Guarantee of a Guarantor will terminate upon 

(1) a sale or other disposition of all or substantially all of the assets of that Guarantor (including by way of consolidation
or merger) to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary, if the sale or other disposition is permitted by this Indenture, 

  
 71 

 (2) a sale or other disposition of Capital Stock of that Guarantor to a Person
that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary, if the sale or other disposition is permitted by this Indenture and as a result of such transaction the Guarantor no longer qualifies as a
Subsidiary of the Company, 
 (3) if the Note Guarantee was required pursuant to the terms of this Indenture, the cessation
of the circumstances requiring the Note Guarantee, 
 (4) the designation in accordance with this Indenture of the Guarantor
as an Unrestricted Subsidiary, 
 (5) the liquidation or dissolution of such Guarantor provided no Default or Event of
Default has occurred or is continuing, or 
 (6) discharge of the Notes, as provided in Article 8. 

Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the foregoing effect, the Trustee
will execute any documents reasonably required in order to evidence the release of the Guarantor from its obligations under its Note Guarantee. 

ARTICLE 12 

MISCELLANEOUS 

Section 12.01. [Reserved]. 

Section 12.02. Noteholder Communications; Noteholder Actions. 

(a) The rights of Holders to communicate with other Holders with respect to this Indenture or the Notes are as provided by the Trust Indenture
Act, and the Company and the Trustee shall comply with the requirements of Trust Indenture Act Sections 312(a) and 312(b). Neither the Company nor the Trustee will be held accountable by reason of any disclosure of information as to names and
addresses of Holders made pursuant to the Trust Indenture Act. 
 (b)(1) Any request, demand, authorization, direction, notice, consent to
amendment, supplement, modification or waiver or other action provided by this Indenture to be given or taken by a Holder (an “act”) may be evidenced by an instrument signed by the Holder delivered to the Trustee. The fact and date of the
execution of the instrument, or the authority of the person executing it, may be proved in any manner that the Trustee deems sufficient. 

(2) The Trustee may make reasonable rules for action by or at a meeting of Holders, which will be binding on all the Holders.

 (c) Any act by the Holder of any Note binds that Holder and every subsequent Holder of a Note that evidences the same debt as the Note of
the acting Holder, even if no notation thereof appears on the Note. Subject to paragraph (d), a Holder may revoke an act as to its Notes, but only if the Trustee receives the notice of revocation before the date the amendment or waiver or other
consequence of the act becomes effective. 
 (d) The Company may, but is not obligated to, fix a record date (which need not be within the
time limits otherwise prescribed by Trust Indenture Act Section 316(c)) for the purpose of determining the Holders entitled to act with respect to any amendment or waiver or in any other regard, except that during the continuance of an Event of
Default, only the Trustee may set a record date as to notices of default, any declaration or acceleration or any other remedies or other consequences of the Event of Default. If a record date is fixed, those Persons that were Holders at such record
date and only those Persons will be entitled to act, or to revoke any previous act, whether or not those Persons continue to be Holders after the record date. No act will be valid or effective for more than 90 days after the record date. 

  
 72 

 Section 12.03. Notices. 

(a) Any notice or communication to the Company will be deemed given if in writing in the English language (i) when delivered in person or
(ii) five days after mailing when mailed by first class mail, or (iii) when sent by facsimile transmission, with transmission confirmed. Notices or communications to a Guarantor will be deemed given if given to the Company. Any notice to
the Trustee will be effective only upon receipt. In each case the notice or communication should be addressed as follows: 
 if to the
Company: 
  

	
	 SandRidge Energy, Inc.

	 123 Robert S. Kerr Avenue

	 Oklahoma City, Oklahoma

	 Attention: General Counsel

	 Facsimile: (405) 429-5983

 if to the Trustee: 

 

	
	 U.S. Bank National Association

	 Corporate Trust Services

EX-TX-WSFH

5555 San Felipe Street, 11th Floor

Houston, Texas 77056

	 Facsimile: (817) 885-8650

Attention: Mauri J. Cowen

 The Company or the Trustee by notice to the other may designate additional or different addresses for
subsequent notices or communications. 
 (b) Except as otherwise expressly provided with respect to published notices, any notice or
communication to a Holder will be deemed given when mailed to the Holder at its address as it appears on the Register by first class mail or, as to any Global Note registered in the name of DTC or its nominee, as agreed by the Company, the Trustee
and DTC. Copies of any notice or communication to a Holder, if given by the Company, will be mailed to the Trustee at the same time. Defect in mailing a notice or communication to any particular Holder will not affect its sufficiency with respect to
other Holders. 
 (c) Where this Indenture provides for notice, the notice may be waived in writing by the Person entitled to receive such
notice, either before or after the event, and the waiver will be the equivalent of the notice. Waivers of notice by Holders must be filed with the Trustee, but such filing is not a condition precedent to the validity of any action taken in reliance
upon such waivers. 
 Section 12.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the
Company to the Trustee to take any action under this Indenture, the Company will furnish to the Trustee: 
 (1) an
Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(2) an Opinion of Counsel stating that all such conditions precedent have been complied with. 

  
 73 

 Section 12.05. Statements Required in Certificate or Opinion. Each Officer’s
Certificate or Opinion of Counsel with respect to compliance with a condition or covenant provided for in this Indenture must include: 

(1) a statement that each person signing the Officer’s Certificate or Opinion of Counsel has read the covenant or
condition and the related definitions; 
 (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statement or opinion contained in the Officer’s Certificate or Opinion of Counsel is based; 

(3) a statement that, in the opinion of each such person, that person has made such examination or investigation as is
necessary to enable the person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether or not, in the opinion of each such person, such condition or covenant has been complied with,
provided that an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials with respect to matters of fact. 

Section 12.06. Payment Date Other Than a Business Day. If any payment with respect to a payment of any principal of, premium, if
any, or interest on any Note (including any payment to be made on any date fixed for redemption or purchase of any Note) is due on a day which is not a Business Day, then the payment need not be made on such date, but may be made on the next
Business Day with the same force and effect as if made on such date, and no interest will accrue for the intervening period. 

Section 12.07. Governing Law. This Indenture, including any Note Guarantees, and the Notes shall be governed by, and construed in
accordance with, the laws of the State of New York. 
 Section 12.08. No Adverse Interpretation of Other Agreements. This
Indenture may not be used to interpret another indenture or loan or debt agreement of the Company or any Subsidiary of the Company, and no such indenture or loan or debt agreement may be used to interpret this Indenture. 

Section 12.09. Successors. All agreements of the Company or any Guarantor in this Indenture and the Notes will bind its
successors. All agreements of the Trustee in this Indenture will bind its successor. 
 Section 12.10. Duplicate Originals. The
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. This Indenture may be executed by facsimile or other electronic transmission. 

Section 12.11. Separability. In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 12.12. Table of Contents and Headings. The Table of Contents, Cross-Reference Table and headings of the Articles and
Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and in no way modify or restrict any of the terms and provisions of this Indenture. 

Section 12.13. No Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders. No director, officer,
employee, incorporator, member, partner or stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or such Guarantor under the Notes, any Note Guarantee or this Indenture or for any claim
based on, in respect of, or by reason of, such obligations. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

Section 12.14. Set-Off of Withholding Taxes. If the Company is required by applicable law to pay, and pays, withholding tax on
behalf of a Non-U.S. Holder as a result of an adjustment to the Conversion Rate, the Company may, at its option, set off or cause to be set off such withholding tax against any payments of cash or shares of Common Stock on the Notes (or, if such
withholding tax has not previously been fully set off against such 

  
 74 

 
cash or shares, against any payments on the shares of Common Stock). For purposes of such a set-off, each share of Common Stock shall be deemed to have a value equal to the VWAP of the Common
Stock on the Conversion Date applicable to such Note. 

  
 75 

 SIGNATURES 

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

 

			
	 SANDRIDGE ENERGY, INC.,
 as
Issuer

		
	By:  	 	 /s/ John Brawley

		 	Name:     John Brawley
		 	Title:       Vice President – Capital Markets

  

			
	 SANDRIDGE OPERATING COMPANY,

INTEGRA ENERGY, L.L.C.,
 LARIAT SERVICES, INC.,

SANDRIDGE EXPLORATION AND PRODUCTION, LLC,
 SANDRIDGE
MIDSTREAM, INC.,
 SANDRIDGE HOLDINGS, INC.,
 CEBA
GATHERING, LLC,
 as Guarantors

		
	By:  	 	 /s/ John Brawley

		 	Name:     John Brawley
		 	Title:       Vice President – Capital Markets

  
 Signature Page to
Indenture 

 
			
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:  	 	 /s/ Mauri J. Cowen

		 	Name:     Mauri J. Cowen
		 	Title:       Vice President

  
 Signature Page to
Indenture 

 EXHIBIT A 

[FACE OF NOTE] 
 SANDRIDGE
ENERGY, INC. 
 8.125% Convertible Senior Note Due 2022 

[CUSIP] [ISIN]             

 

			
	 No.
	  	[Initially] (1)$        

 SANDRIDGE ENERGY, INC., a Delaware corporation (the “Company”, which term includes any
successor under the Indenture hereinafter referred to), for value received, promises to pay to                 , or its registered assigns, the principal sum of
             DOLLARS ($         ) [or such other amount as indicated on the Schedule of Exchange of Notes attached hereto](1), on October 16, 2022. 
 Interest Payment Dates: April 15 and
October 15 of each year (except as provided in the following proviso), commencing October 15, 2015; provided that the final Interest Payment Date shall be on October 16, 2022. 

Regular Record Dates: April 1 and October 1. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same
effect as if set forth at this place. 
  

	(1)	For Global Notes only. 

  
 Exhibit A-1 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by its
duly authorized officers. 

Date:                         
    
  

			
	SANDRIDGE ENERGY, INC.
		
	By:	 	  

		 	      Name:
		 	      Title:

 (Form of Trustee’s Certificate of Authentication) 

This is one of the 8.125% Convertible Senior Notes Due 2022 described in the Indenture referred to in this Note. 

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	      Authorized Signatory

  
 Exhibit A-2 

 [REVERSE SIDE OF NOTE] 

SANDRIDGE ENERGY, INC. 

8.125% Convertible Senior Note due 2022 
  

	1.	Principal. 

 The Company promises to pay the principal of this Note on
October 16, 2022. 
  

	2.	Interest. 

 Interest on this Note will be payable, at the rate of 8.125% per
annum, semiannually to the holders of record of the Notes at the close of business on the Regular Record Date immediately preceding each Interest Payment Date (whether or not a Business Day) on each Interest Payment Date, commencing October 15,
2015, even if such Note is canceled after such Regular Record Date and on or before such Interest Payment Date. 
 Interest on this Note
will accrue from the most recent date to which interest has been paid on this Note (or, if there is no existing default in the payment of interest and if this Note is authenticated between a Regular Record Date and the next Interest Payment Date,
from such Interest Payment Date) or, if no interest has been paid, from (x) the date this Note was issued or (y) if this Note is an Initial Note, from August 19, 2015. Interest will be computed on the basis of a 360-day year
consisting of twelve 30-day months. 
 The Company will, to the extent lawful, pay interest on overdue principal (without regard to any
applicable grace periods) at a rate per annum of 8.125%. Interest not paid when due and any interest on principal, premium or interest not paid when due will be paid to the Persons that are Holders on a special record date, which will be the 15th
day preceding the date fixed by the Company for the payment of such interest, whether or not such day is a Business Day. At least 15 days before a special record date, the Company will send to each Holder and to the Trustee a notice that sets forth
the special record date, the payment date and the amount of interest to be paid. 
  

	3.	Conversion. 

 The Note shall be convertible into shares of Common Stock in accordance
with Article 10 of the Indenture. To convert a Note at its option, a Holder must satisfy the requirements of Section 10.02(a) of the Indenture. A Holder may convert a portion of a Note in an Early Conversion if the portion is $1,000 principal
amount or an integral multiple of $1,000 principal amount. 
 The Notes shall automatically convert into shares of Common Stock in
accordance with Section 10.01(b) of the Indenture. 
 Upon conversion of a Note, the Holder thereof shall be entitled to receive the
shares of Common Stock payable upon conversion in accordance with Article 10 of the Indenture, at the Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the Indenture. 

 

	4.	Indenture; Note Guarantee. 

 This is one of the Notes issued under an
Indenture dated as of August 19, 2015 (as amended from time to time, the “Indenture”), among the Company, the Guarantors party thereto and U.S. Bank National Association, as Trustee. Capitalized terms used herein are used as
defined in the Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and Holders are
referred to the Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the
Indenture will control. 

  
 Exhibit A-3 

 The Notes are general unsecured obligations of the Company. The Indenture limits the initial
aggregate principal amount of the Notes to $158,379,000, but Additional Notes may be issued pursuant to the Indenture, and the originally issued Notes and all such Additional Notes will vote together for all purposes as a single class. This Note is
guaranteed as set forth in the Indenture. 
  

	5.	Optional Redemption. 

 (a) At any time and from time to time on or after
April 15, 2017, the Company may redeem all or a portion of the Notes, in amounts of $1,000 or whole multiples of $1,000 in excess thereof at the following redemption prices (expressed as percentages of the principal amount), set forth below
plus accrued and unpaid interest, if any, thereon, to the applicable redemption date (subject to the rights of Holders on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date), if redeemed during the
12-month period beginning on April 15 of the years indicated below: 
  

					
	 Year
	  	Redemption Price	 
	 2017
	  	 	104.063	% 
	 2018
	  	 	102.708	% 
	 2019
	  	 	101.354	% 
	 2020 and thereafter
	  	 	100.000	% 

 (b) [Reserved]. 

(c) Prior to April 15, 2017, the Company will be entitled at its option to redeem the Notes, in whole or in part, at a redemption price
equal to 100% of the principal amount of the Notes to be redeemed, plus the Applicable Premium as of, and accrued and unpaid interest if any, to, the redemption date (subject to the right of Holders on the relevant Regular Record Date to receive
interest due on the relevant Interest Payment Date). 
 (d) The Company is also entitled at it option to redeem the Notes in whole as
provided in Section 4.13(c) of the Indenture. 
 (e) All redemptions of the Notes will be made upon not less than 30 days’ nor
more than 60 days’ prior notice, except that a redemption notice may be made more than 60 days prior to a redemption date if the notice is issued in connection with a discharge of the Notes as provided in Article 8 of the Indenture. 

 

	6.	Redemption and Repurchase; Discharge Prior to Redemption or Maturity. 

 This Note
is subject to optional redemption, and may be the subject of an Offer to Purchase, as further described in the Indenture. There is no sinking fund or mandatory redemption applicable to this Note. 

If the Company deposits with the Trustee money or U.S. Government Obligations sufficient to pay the then outstanding principal of, premium, if
any, accrued interest and Early Conversion Payment, if applicable, on the Notes, the Company may in certain circumstances be discharged from the Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of
the Indenture. 
  

	7.	Registered Form; Denominations; Transfer; Exchange. 

 The Notes are in registered
form without coupons in denominations of $1,000 principal amount and any multiple of $1,000 in excess thereof. A Holder may register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder to furnish
appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to issue, register the
transfer of or exchange any Note or certain portions of a Note. 
  

	8.	Defaults and Remedies. 

  
 Exhibit A-4 

 If an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the
Holders of at least 25% in aggregate principal amount of the Notes may declare all the Notes to be due and payable. If a bankruptcy or insolvency default with respect to the Company occurs and is continuing, the Notes automatically become due and
payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of a
majority in aggregate principal amount of the Notes then outstanding may direct the Trustee in its exercise of remedies. 
  

	9.	Amendment and Waiver. 

 Subject to certain exceptions, the Indenture and the Notes
may be amended, or default may be waived, with the consent of the Holders of a majority in aggregate principal amount of the outstanding Notes. Without notice to or the consent of any Holder, the Company, the Guarantors and the Trustee may amend or
supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency. 
  

	10.	Authentication. 

 This Note is not valid until the Trustee (or Authenticating
Agent) signs the certificate of authentication on the other side of this Note. 
  

	11.	Governing Law. 

 This Note shall be governed by, and construed in accordance with,
the laws of the State of New York. 
  

	12.	Abbreviations. 

 Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act). 

The Company will furnish a copy of the Indenture to any Holder upon written request and without charge. 

  
 Exhibit A-5 

 TRANSFER NOTICE 

FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto Insert Taxpayer Identification No. 

 
  
  

 
  

 
 Please print or typewrite name and
address including zip code of assignee 
 the within Note and all rights thereunder, hereby irrevocably constituting and appointing 

 
  

attorney to transfer said Note on the books of the Company with full power of substitution in the premises. 

  
 Exhibit A-6 

 THE FOLLOWING PROVISION TO BE INCLUDED ON ALL CERTIFICATES BEARING A RESTRICTED LEGEND 

In connection with any transfer of this Note occurring prior to
                    , the undersigned confirms that such transfer is made without utilizing any general solicitation or general advertising and
further as follows: 
 Check One 

 ̈ (1) This Note is being transferred to a “qualified institutional buyer” in
compliance with Rule 144A under the Securities Act of 1933, as amended and certification in the form of Exhibit F to the Indenture is being furnished herewith. 

or 
  ̈ (2) This Note is being transferred to a Non-U.S. Person in compliance with the exemption from registration under the Securities Act of 1933, as amended, provided by Regulation S thereunder, and
certification in the form of Exhibit E to the Indenture is being furnished herewith. 
 or 

 ̈ (3) This Note is being transferred other than in accordance with
(1) or (2) above and documents are being furnished which comply with the conditions of transfer set forth in this Note and the Indenture. 

If none of the foregoing boxes is checked, the Trustee is not obligated to register this Note in the name of any Person other than the Holder
hereof unless and until the conditions to any such transfer of registration set forth herein and in the Indenture have been satisfied. 

Date:                         
    
  

			
	  

Seller

		
	 By
	 	  

	
	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within mentioned instrument in every particular, without alteration or any change whatsoever.

 Signature Guarantee:1 

 

	1 	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Securities Transfer
Association Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 

  
 Exhibit A-7 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you wish to have all of this Note purchased by the Company pursuant to Section 4.13 or Section 4.14 of the Indenture, check here:
             
 If you wish to have a portion of this Note purchased by the
Company pursuant to Section 4.13 or Section 4.14 of the Indenture, state the principal amount below: 

$            . 

Date:                         
                                

Your
Signature:                                       
                                      

(Sign exactly as your name appears on the other side of this Note) 

Signature Guarantee:1 

 

	1 	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Securities Transfer
Association Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 

  
 Exhibit A-8 

 CONVERSION NOTICE 

To convert this Note in accordance with the Early Conversion provisions of the Indenture, check the box:  ̈

 To convert only part of this Note, state the principal amount to be converted (must be in multiples of $1,000): 

$             

If you want the stock certificate representing the Common Stock issuable upon conversion made out in another person’s name, fill in the form below: 

 
  

(Insert other person’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
 (Print or type other person’s name, address and
zip code) 
  

					
	Date:	  	Signature(s):	 	  

		
		  	  
 (Sign exactly as your
name(s) appear(s) on the other side of this Note)

		
	 Signature(s) guaranteed
 by:
	  	  

		  	(All signatures must be guaranteed by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the Trustee.)

  
 Exhibit A-9 

 SCHEDULE OF EXCHANGES OF NOTES1 

The following exchanges of a part of this Global Note for Certificated Notes or a part of another Global Note have been made: 

 

									
	 Date of Exchange
	 	 Amount of decrease in
principal amount of

this Global Note
	 	 Amount of increase

in principal amount
 of this
Global Note
	  	Principal amount of
this Global Note
following such
decrease (or increase)	  	Signature of
authorized officer
of Trustee
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	

  

	1 	For Global Notes. 

  
 Exhibit A-10 

 EXHIBIT B 

SUPPLEMENTAL INDENTURE 

Dated as of                     , 

among 
 SANDRIDGE ENERGY, INC.

 the Guarantor(s) Party Hereto 

and 
 U.S. BANK NATIONAL
ASSOCIATION 
 as Trustee 

8.125% CONVERTIBLE SENIOR NOTES DUE 2022 

  
 Exhibit B-1 

 THIS SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), entered into
as of                     ,             , among SANDRIDGE ENERGY, INC., a Delaware
corporation (the “Company”), [insert each Guarantor executing this Supplemental Indenture and its jurisdiction of organization] (each an “Undersigned”) and U.S. BANK NATIONAL ASSOCIATION, as trustee (the
“Trustee”). 
 RECITALS 

WHEREAS, the Company, the Guarantors party thereto and the Trustee entered into the Indenture, dated as of August 19, 2015 (the
“Indenture”), relating to the Company’s 8.125% Convertible Senior Notes Due 2022 (the “Notes”); 

WHEREAS, as a condition to the Trustee entering into the Indenture and the purchase of the Notes by the Holders, the Company agreed pursuant
to the Indenture to cause any newly acquired or created Restricted Subsidiaries (other than Foreign Subsidiaries and Immaterial Subsidiaries) to provide Guarantees. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this Supplemental Indenture hereby agree as follows: 

Section 1. Capitalized terms used herein and not otherwise defined herein are used as defined in the Indenture. 

Section 2. Each Undersigned, by its execution of this Supplemental Indenture, agrees to be a Guarantor under the Indenture and to be
bound by the terms of the Indenture applicable to Guarantors, including, but not limited to, Article 11 thereof, subject to any limitations therein. 

Section 3. This Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York. 

Section 4. This Supplemental Indenture may be signed in various counterparts which together will constitute one and the same instrument.

 Section 5. This Supplemental Indenture is an amendment supplemental to the Indenture and the Indenture and this Supplemental
Indenture will henceforth be read together. 

  
 Exhibit B-2 

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

			
	SANDRIDGE ENERGY, INC., as Issuer
		
	By:	 	  

		 	Name:
		 	Title:
	
	[GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  

  
 Exhibit B-3 

 EXHIBIT C-1 

RESTRICTED LEGEND 
 THIS
NOTE AND ANY SHARES OF COMMON STOCK ISSUED UPON CONVERSION OF THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER
THIS NOTE, ANY SHARES OF COMMON STOCK ISSUED UPON CONVERSION OF THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR
UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS NOTE, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED NOTES, TO OFFER, SELL OR
OTHERWISE TRANSFER SUCH NOTE, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS [IN THE CASE OF RULE 144A NOTES: ONE YEAR] [IN THE CASE OF REGULATION S NOTES: 40 DAYS] AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF SUCH NOTE), ONLY (A) TO THE COMPANY OR ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN
DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN
RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT
OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT
IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE NOTE FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT
WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S
AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (C), (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS
LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

  
 Exhibit C-1 

 EXHIBIT C-2 

COMMON STOCK RESTRICTED LEGEND 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR
UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL
OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS [IN THE CASE OF RULE 144A SECURITIES: ONE YEAR] [IN THE CASE OF REGULATION S SECURITIES: 40 DAYS] AFTER THE LATER OF THE
ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ITS SUBSIDIARIES, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE
SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRANSFER AGENT’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (C), (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

  
 Exhibit C-2 

 EXHIBIT D 

DTC LEGEND 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE INDENTURE. 

  
 Exhibit D-1 

 EXHIBIT E 

Regulation S Certificate 

                    ,
         
 U.S. Bank National Association 

5555 San Felipe Street, 11th Floor 
 Houston, Texas 77056 

EX-TX-WSFH 
 Attention: Corporate Trust Services 

Facsimile: (713) 235-9213 
  

			
	 Re:
	  	 SANDRIDGE ENERGY, INC.
 8.125% Convertible
Senior Notes Due 2022 (the “Notes”)
 Issued under the Indenture (the “Indenture”) 

dated as of August 19, 2015 relating to the Notes

 Ladies and Gentlemen: 

Terms are used in this Certificate as used in Regulation S (“Regulation S”) under the Securities Act of 1933, as
amended (the “Securities Act”), except as otherwise stated herein. 
 [CHECK A OR B AS APPLICABLE.] 

 

					
	  ̈
	  	A.	  	This Certificate relates to our proposed transfer of $             principal amount of Notes issued under the Indenture. We hereby certify as follows:
			
		  	1.	  	The offer and sale of the Notes was not and will not be made to a person in the United States (unless such person is excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(vi) or the account held by it
for which it is acting is excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i) under the circumstances described in Rule 902(h)(3)) and such offer and sale was not and will not be specifically targeted at an
identifiable group of U.S. citizens abroad.
			
		  	2.	  	Unless the circumstances described in the parenthetical in paragraph 1 above are applicable, either (a) at the time the buy order was originated, the buyer was outside the United States or we and any person acting on our
behalf reasonably believed that the buyer was outside the United States or (b) the transaction was executed in, on or through the facilities of a designated offshore securities market, and neither we nor any person acting on our behalf knows
that the transaction was pre-arranged with a buyer in the United States.
			
		  	3.	  	Neither we, any of our affiliates, nor any person acting on our or their behalf has made any directed selling efforts in the United States with respect to the Notes.
			
		  	4.	  	The proposed transfer of Notes is not part of a plan or scheme to evade the registration requirements of the Securities Act.
			
		  	5.	  	If we are a dealer or a person receiving a selling concession, fee or other remuneration in respect of the Notes, and the proposed transfer takes place during the Restricted Period (as defined in the Indenture), or we are an
officer or director of the Company (as defined in the Indenture), we certify that the proposed transfer is being made in accordance with the provisions of Rule 904(b) of Regulation S.

  
 Exhibit E-1 

 
					
	  ̈
	  	B.	  	This Certificate relates to our proposed exchange of $            principal amount of Notes issued under the Indenture for an equal principal amount of Notes to be held
by us. We hereby certify as follows:
			
		  	1.	  	At the time the offer and sale of the Notes was made to us, either (i) we were not in the United States or (ii) we were excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(vi) or the
account held by us for which we were acting was excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i) under the circumstances described in Rule 902(h)(3); and we were not a member of an identifiable group of U.S.
citizens abroad.
			
		  	2.	  	Unless the circumstances described in paragraph 1(ii) above are applicable, either (a) at the time our buy order was originated, we were outside the United States or (b) the transaction was executed in, on or through
the facilities of a designated offshore securities market and we did not pre-arrange the transaction in the United States.
			
		  	3.	  	The proposed exchange of Notes is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 You and the Company are entitled to rely upon this Certificate and are irrevocably authorized to produce
this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

			
	Very truly yours,
	
	[NAME OF SELLER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
		
	By:	 	  

		 	Name:
		 	Title:
		 	Address:

Date:                         
            

  
 Exhibit E-2 

 EXHIBIT F 

Rule 144A Certificate 

                    ,
         
 U.S. Bank National Association 

5555 San Felipe Street, 11th Floor 
 Houston, Texas 77056 

EX-TX-WSFH 
 Attention: Corporate Trust Services 

Facsimile: (713) 235-9213 
  

			
	 Re:
	  	 SANDRIDGE ENERGY, INC.
 8.125% Convertible
Senior Notes Due 2022 (the “Notes”)
 Issued under the Indenture (the “Indenture”)

dated as of August 19, 2015 relating to the Notes

 Ladies and Gentlemen: 

This Certificate relates to: 

[CHECK A OR B AS APPLICABLE.] 

 ̈ A. Our proposed purchase of
$            principal amount of Notes issued under the Indenture. 
  ̈ B. Our proposed exchange of $            principal amount of Notes issued under the Indenture for an equal principal amount of Notes to be held
by us. 
 We and, if applicable, each account for which we are acting in the aggregate owned and invested more than $100,000,000 in
securities of issuers that are not affiliated with us (or such accounts, if applicable), as of                     , 20    ,
which is a date on or since close of our most recent fiscal year. We and, if applicable, each account for which we are acting, are a qualified institutional buyer within the meaning of Rule 144A (“Rule 144A”) under the Securities
Act of 1933, as amended (the “Securities Act”). If we are acting on behalf of an account, we exercise sole investment discretion with respect to such account. We are aware that the transfer of Notes to us, or such exchange, as
applicable, is being made in reliance upon the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A. Prior to the date of this Certificate we have received such information regarding the Company as we have
requested pursuant to Rule 144A(d)(4) or have determined not to request such information. 
 You and the Company are entitled to rely
upon this Certificate and are irrevocably authorized to produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

			
	Very truly yours,
	
	[NAME OF PURCHASER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
		
	By:	 	  

		 	Name:
		 	Title:
		 	Address:

Date:                         
        

  
 Exhibit F-1 

 EXHIBIT G 

Institutional Accredited Investor Certificate 

                    ,
         
 U.S. Bank National Association 

5555 San Felipe Street, 11th Floor 
 Houston, Texas 77056 

EX-TX-WSFH 
 Attention: Corporate Trust Services 

Facsimile: (713) 235-9213 
  

			
	 Re:
	  	 SANDRIDGE ENERGY, INC.
 8.125% Convertible
Senior Notes Due 2022 (the “Notes”)
 Issued under the Indenture (the “Indenture”)

dated as of August 19, 2015 relating to the Notes

 Ladies and Gentlemen: 

This Certificate relates to: 

[CHECK A OR B AS APPLICABLE.] 

 ̈ A. Our proposed purchase of
$            principal amount of Notes issued under the Indenture. 
  ̈ B. Our proposed exchange of $            principal amount of Notes issued under the Indenture for an equal principal amount of Notes to be held
by us. 
 We hereby confirm that: 
  

	 	1.	We are an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”) (an
“Institutional Accredited Investor”). 

  

	 	2.	Any acquisition of Notes by us will be for our own account or for the account of one or more other Institutional Accredited Investors as to which we exercise sole investment discretion. 

 

	 	3.	We have such knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of an investment in the Notes and we and any accounts for which we are acting are able to
bear the economic risks of and an entire loss of our or their investment in the Notes. 

  

	 	4.	We are not acquiring the Notes with a view to any distribution thereof in a transaction that would violate the Securities Act or the securities laws of any State of the United States or any other applicable
jurisdiction; provided that the disposition of our property and the property of any accounts for which we are acting as fiduciary will remain at all times within our and their control. 

 

	 	5.	We acknowledge that the Notes have not been registered under the Securities Act and that the Notes may not be offered or sold within the United States or to or for the benefit of U.S. persons except as set forth below.

  

	 	6.	The principal amount of Notes to which this Certificate relates is at least equal to $250,000. 

  
 Exhibit G-1 

 We agree for the benefit of the Company, on our own behalf and on behalf of each account for
which we are acting, that such Notes may be offered, sold, pledged or otherwise transferred only in accordance with the Securities Act and any applicable securities laws of any State of the United States and only (a) to the Company or its
subsidiaries, (b) pursuant to a registration statement which has become effective under the Securities Act, (c) to a qualified institutional buyer in compliance with Rule 144A under the Securities Act, (d) in an offshore transaction
in compliance with Rule 904 of Regulation S under the Securities Act, (e) in a principal amount of not less than $250,000, to an Institutional Accredited Investor that, prior to such transfer, delivers to the Trustee a duly completed and signed
certificate (in the same form as this Certificate) relating to the restrictions on transfer of the Notes or (f) pursuant to an exemption from registration provided by Rule 144 under the Securities Act or any other available exemption from the
registration requirements of the Securities Act. 
 Prior to the registration of any transfer in accordance with (c), (d), (e) or
(f) above, we acknowledge that the Company reserves the right to require the delivery of such legal opinions, certifications or other evidence as may reasonably be required in order to determine that the proposed transfer is being made in
compliance with the Securities Act and applicable state securities laws. We acknowledge that no representation is made as to the availability of any Rule 144 exemption from the registration requirements of the Securities Act. 

We understand that the Trustee will not be required to accept for registration of transfer any Notes acquired by us, except upon presentation
of evidence satisfactory to the Company and the Trustee that the foregoing restrictions on transfer have been complied with. We further understand that the Notes acquired by us may be in the form of definitive physical certificates and that any such
certificates will bear a legend reflecting the substance of the preceding paragraph. We further agree to provide to any person acquiring any of the Notes from us a notice advising such person that resales of the Notes are restricted as stated herein
and that certificates representing the Notes will bear a legend to that effect. 
 We agree to notify you promptly in writing if any of our
acknowledgments, representations or agreements herein ceases to be accurate and complete. 
 We represent to you that we have full power to
make the foregoing acknowledgments, representations and agreements on our own behalf and on behalf of any account for which we are acting. 

You and the Company are entitled to rely upon this Certificate and are irrevocably authorized to produce this Certificate or a copy hereof to
any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 
  

			
	Very truly yours,
	
	[NAME OF PURCHASER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
		
	By:	 	  

		 	Name:
		 	Title:
		 	Address:

Date:                         
            
 Upon transfer, the Notes would be registered in the name of the new beneficial
owner as follows: 

By:                         
               

Date:                         
            
 Taxpayer ID:
number:                                     

 

  
 Exhibit G-2 

 EXHIBIT H 

OID LEGEND 
 SOLELY FOR
UNITED STATES FEDERAL INCOME TAX PURPOSES, THIS NOTE IS TREATED AS ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”). UPON REQUEST, THE COMPANY WILL PROMPTLY MAKE AVAILABLE TO A HOLDER OF THIS NOTE INFORMATION REGARDING THE ISSUE PRICE, THE
AMOUNT OF OID, THE ISSUE DATE AND THE YIELD TO MATURITY OF THIS NOTE. HOLDERS SHOULD CONTACT THE [CHIEF FINANCIAL OFFICER] AT [STREET], [CITY], [STATE] [ZIP]. THIS NOTE HAS BEEN ISSUED IN REPLACEMENT AND EXCHANGE FOR OUTSTANDING NOTES OF THE COMPANY
OF EQUAL PRINCIPAL AMOUNT IN A FACE VALUE EXCHANGE. THE EXISTENCE OR RECOGNITION OF OID FOR UNITED STATES FEDERAL INCOME TAX PURPOSES SHALL NOT COMPROMISE OR IMPAIR THE AMOUNT OF THE FULL PRINCIPAL OBLIGATION OF THE COMPANY OR THE GUARANTORS
HEREUNDER. 

  
 Exhibit H-1

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