Document:

Exhibit 10.1 Exclusive License Agreement

TERM SHEET 

For an exclusive license Agreement

(the “Agreement”)

The Agreement is entered into on the 19th day of January, 2016 by and between 

Gutave Roussy Transfert having its principal administrative offices at 39 rue Camille Desmoulins 94850 Villejuif (hereinafter “GRT”), and

Therapeutic Solutions International, Inc having its principal administrative offices at 4093 Oceanside Blvd. Suite B, Oceanside, CA 92056, U.S.A (hereinafter “TSOI”), 

Individually referred to as the “Party” or collectively “the Parties”.

WHEREAS Gustave Roussy Transfert is the technology transfer Affiliate of Gustave Roussy, a comprehensive cancer center engaged in care, education and research in the area of oncology;

WHEREAS, Gustave Roussy has developed and owns certain Patent Rights in the field of exosomes use, development and manufacturing in oncology; 

WHEREAS, Gustave Roussy has granted a worldwide exclusive license with the right of sublicense to its Affiliate, Gustave Roussy Transfert under Patent Rights; 

WHEREAS, TSOI desires to obtain an exclusive license from GRT to use the Patent Rights for the development, manufacture and sale of exosome in the Territory;

NOW, THEREFORE, in consideration of the mutual covenants and premises herein contained, the Parties agree as follows:

ARTICLE I: DEFINITIONS

1.1

“Affiliate” shall mean with respect to a particular party, a person, corporation, partnership, or other entity that controls, is controlled by or is under common control with such Party. For the purposes of the definition in this Section 1.1, the word “control” (including, with correlative meaning, the terms “controlled by” or “under the common control with”) means the actual power, either directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity, whether by the ownership of at least fifty percent (50%) of the voting stock of such entity, or by contract or otherwise.

1.2 

“Confidential Information” shall mean any and all proprietary or confidential scientific, technical, financial or business information in whatever form (written, oral or visual) that is furnished or made available to recipient by or on behalf of discloser or its Affiliates, and that (a) if in tangible form, is labeled in writing or otherwise characterized as proprietary or confidential; (b) if in oral or visual form, is identified as proprietary or confidential at the time of disclosure or otherwise identified as such within fifteen (15) days thereafter; or (c) is commonly regarded as confidential or proprietary in the life sciences industry.

1.3

“Effective Date” shall mean the date first referenced above.

1.4

“IND” shall mean an application submitted to a regulatory authority to initiate human clinical trials, including (1) an Investigational New Drug application or any successor application or procedure filed with the FDA or any foreign equivalent thereof, and (2) all supplements and amendments that may be filed with respect to the foregoing. 

1.5

“Licensed Product” shall mean any product sole or in combination which cannot be developed, manufactured, used or sold as vaccines or therapeutic with exosomes in oncology without utilizing the Patent Rights.

1.6

“Net Sales” shall mean gross revenues received by TSOI for the sales of Licensed Product in the Territory and/or the sublicense revenues in the Territory of Licensed Products; which is invoiced to a third-party, whatever the country, by TSOI, its Affiliates or its authorized sub-licensees, less allowances for discounts, rebates or any refunds actually granted, freight, postage, shipping, transportation, customs duties, excises, insurance charges and all other taxes.

1.7

“Patent Rights” shall mean the list of patents, all continuations-in- and divisionals thereto, and any patents issuing on said applications, all corresponding foreign patent applications, and all re-examinations or extensions thereof enclosed in Exhibit A.

1.8

“Territory” shall mean the world except China, Taiwan and Hong Kong.

ARTICLE II: SCOPE OF THE AGREEMENT

GRT hereby grants to TSOI in the Territory an exclusive license in the Territory royalty bearing with the right to sublicense to practice the Patent Rights in order to develop and commercialize the Licensed Products.

GRT will be free to use the Patents rights for non-commercial research, internal (including clinical) and/or educational purposes at Gustave Roussy, including the ability to distribute any biological material covered under the Patent Right(s) for nonprofit academic research to academic entities as is customary in the scientific community

ARTICLE III:  GRT WARRANTIES

GRT makes no expressed or implied warranty of merchantability or fitness for a particular purpose as to any Licensed Product. GRT makes no warranty or representation as to the validity or scope of the Patent Rights or that any Licensed Product will be free from an infringement of patents of third parties, or that no third parties are in any way infringing Patent Rights.

ARTICLE IV: CONSIDERATION OF TSOI

4.1 

In consideration of the License under the Patent Rights, TSOI shall pay an upfront payment to GRT a non-refundable payment in an amount of fifteen Thousand euros (euros 15 000) excluding fees equivalent to the USPTO maintenance fees to be paid for the US patents which shall be due and payable within thirty (30) days of execution of this Agreement. This may be paid in TSOI common stock at the discretion of TSOI.

4.2 

TSOI shall pay performance milestones to GRT until this Agreement is terminated. Performance milestones shall include the following commercialization and research and development milestones for the Licensed Products (together the “Milestones”). 

TSOI shall pay upon the achievement of the Milestones: 

1)

Two hundred and Fifty thousand euros (€250 000) Milestones payment that shall be nonrefundable and due thirty (30) days from the approval of the IND by the U.S. FDA for conducting a phase I clinical trial.

2)

Two hundred seventy five thousand euros (€275 000) Milestones payment that shall be nonrefundable and due thirty (30) days from the first ten patients treated with the Licensed Product in the scope of the first U.S. clinical trial.

3)

Three hundred thousand euros (€300 000) Milestones payment that shall be nonrefundable and due thirty (30) days from the initiation of the phase II U.S. clinical trial. 

4)

Three hundred seventy five thousand euros (€375 000) Milestones payment that shall be nonrefundable and due thirty (30) days from the initiation of the phase III U.S. clinical trial

5)

Five hundred thousand euros (€ 500 000) Milestones payment that shall be nonrefundable and due thirty (30) days from the first market authorization or equivalent of the Licensed Product.

During the term of this agreement, TSOI shall pay on quarterly basis to GRT: 

1

Five percent (5%) of running royalty of the cumulative Net Sales of the Licensed Product made or sold in the territory.

2

Forty Percent (40%) of any consideration that is based on revenue such as but not limited to, sublicense issue fees, sublicense maintenance fees, royalty etc.) that TSOI receives from sublicensees or assignees in consideration for rights to practice under the Patent Rights, excepting only research and development funding; 

2

4.3

During the term of the Agreement, TSOI will pay the remaining maintenance fees of the Patent Rights to the appropriate government agencies.

ARTICLE V: INTELLECTUAL PROPERTY

Notwithstanding any clause to the contrary, any information, and/or the Patent Rights of GRT hereto shall remain at all times the sole beneficiary. 

ARTICLE VI:  TERMINATION

6.1

 The term of this Agreement shall commence on the Effective Date and shall continue, in each country, until the date of expiration of the last Patents Rights in that country. 

6.2

GRT may terminate this Agreement upon thirty (30) days written notice to TSOI, if TSOI breaches or defaults on its obligations hereunder, unless before the end of the thirty (30) day period, TSOI has cured the breach or default and so notifies GRT in writing, stating the manner of the cure.

ARTICLE VII: CONFIDENTIAL INFORMATION

7.1 

Parties may disclose other Confidential Information to each other, from time to time, in connection with work contemplated under this Agreement. All such Confidential Information whether disclosed initially or during Agreement shall be deemed Confidential Information. Each Party will use reasonable efforts to prevent the disclosure of any of the other Party's Confidential Information to third parties for a period of five (5) years from receipt thereof, provided that the recipient Party's obligation will not apply to information that:

a.

is not disclosed in writing or reduced to writing and so marked with an appropriate confidentiality legend within thirty (30) days of disclosure;

b.

is already in the recipient Party's possession at the time of disclosure thereof and not obtained directly or indirectly from the other, as proven by the receiving Party’s written records; 

c.

is or later becomes published through no fault of the recipient Party;

d.

is lawfully acquired from a third party having no obligations of confidentiality to the disclosing Party;

e.

is independently developed by the recipient Party; or

f.

is required by law or regulation to be disclosed.

7.2

In the event that information is required to be disclosed under Section 7.1(f) above, the Party required to make disclosure will notify the other to allow that Party to assert whatever exclusions or exemptions may be available to it under such law or regulation.

7.3

Notwithstanding the foregoing, TSOI may disclose Confidential Information at any time (i) to prospective lenders, investors and other financing sources; (ii) with the prior written consent of GRT (which consent shall not be unreasonably withheld); or (iii) to the extent necessary for TSOI to properly evaluate Patent Rights. To the extent that any such Confidential Information is disclosed to any third party for evaluation purposes, the confidentiality obligations contained herein shall be made by TSOI to apply to, and be made binding upon, all such third parties.

7.4

TSOI shall not use any Confidential Information furnished by GRT, other than for purposes in furtherance of this Agreement, provided however that other use of said Confidential Information may be made with the prior written consent of GRT, which consent shall not be unreasonably withheld.

7.5

In the event of termination of the Agreement, TSOI agrees to promptly return all records embodying Confidential Information including, but not limited to, drawings, specifications, instructions, and other documents relating to the Patent Rights which it has received from GRT, and all copies, elaboration's, modifications, and adaptations which it has made of the Confidential Information.

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7.6

TSOI represents that GRT believes the Confidential Information supplied by it under this Agreement to be accurate, but does not otherwise warrant the accuracy of this information; nor does GRT warrant that products produced in accordance with such information will be free from claims of infringement of the patents, copyrights or trade secrets of any third party.

ARTICLE VIII:   NOTICES

All notices under this Agreement shall be effective upon receipt by the recipient at the following addresses:

GRT:   

Gustave Roussy Transfert

39 rue Camille Desmoulins

94850 Villejuif

FRANCE

Attention:  General Manager

and

TSOI:

Therapeutic Solutions International

4093 Oceanside Blvd. Suite B,

Oceanside, CA 92056

U.S.A 

Attention: Timothy G. Dixon, CEO

or any other addresses of which either Party shall notify the other Party in writing.

ARTICLE IX:  MISCELLANEOUS PROVISIONS

9.1 

TSOI shall have no right to assign all of his rights and duties hereunder to a third party entity without the prior written consent of GRT, which consent may not unreasonably be withheld; provided, however, that no such consent shall be necessary in the event the assignment is to an entity to an Affiliate of TSOI or a new company with TSOI as a shareholder.

9.2

This Agreement, together with attached exhibits, constitutes the entire and only Agreement between the parties relating to an option to acquire a license, and all prior negotiations, representations, Agreements and understandings are superseded hereby. No Agreements altering or supplementing the terms hereof may be made except by written mutual Agreement by the Parties.

9.3

The relationship between GRT and TSOI is that of independent contractors. GRT and TSOI are not joint venturers, partners, principal and agent, master and servant, employer or employee, and have no other relationship other than independent contracting parties. GRT will have no power to bind or obligate TSOI in any manner, other than as is expressly set forth in this Agreement. Likewise, TSOI will have no power to bind or obligate GRT in any manner, other than as is expressly set forth in this Agreement.

9.4

If any provision of this Agreement is ultimately held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby.

9.5

Any delay in enforcing a Party's right under this Agreement or any waiver as to a particular default or other matter will not constitute a waiver of such Party's rights to the future enforcement of its rights under this Agreement, except only as to an express written and signed waiver to a specific matter for a specific period of time.

9.6

This Agreement shall be construed in accordance with the laws of France.

9.7

The Parties agree that any dispute arising from this Agreement shall be resolved in a court of competent jurisdiction in France and both Parties hereby agree to submit to the jurisdiction of the courts of France should any dispute arise. 

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IN WITNESS WHEREOF the Parties have caused this Agreement to be executed by their duly authorized representatives as of the Effective Date.

Gustave Roussy Transfert 

TSOI 

By: /s/ Isabelle Pelletier-Bressac

By: /s/ Timothy G. Dixon

Name: Isabelle Pelletier-Bressac

Name: Timothy G. Dixon

Its: General Manager

Its: CEO

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EXHIBIT A

Inventors: ZITVOGEL Laurence; RAPOSO Graca; REGNAULT Armelle; AMIGORENA Sebastian

Titre: CELLULAR VESICLE CALLED ''EXOSOME'', PREPARATION AND USE THEREOF IN IMMUNE STIMULATION

					
	Countries

	Ref 

	Information

	Expiration

	France

	FR9709007 

	Granted patent: FR 2 766 205

	2017

	France

	FR9801437

	Granted patent FR 2 774 697

	2018

	Europe

	EP98935097.0

	Granted patent EP 1 001 806

	2018

	 
	 
	Germany

	 
	2018

	 
	 
	Spain

	ES2227863

	2018

	 
	 
	France

	 
	2018

	 
	 
	Italy

	 
	2018

	 
	 
	Ireland

	 
	2018

	 
	 
	United Kingdom

	 
	2018

	 
	 
	Switzerland

	 
	2018

	 
	EP04005883.6

	Granted patent EP 1 523 990

Division of: EP98935097

	2018

	 
	 
	Germany

	 
	2018

	 
	 
	Belgium

	 
	2018

	 
	 
	Spain

	 
	2018

	 
	 
	France

	 
	2018

	 
	 
	Italy

	30757BE/2009

	2018

	 
	 
	Ireland

	 
	2018

	 
	 
	Netherland

	 
	2018

	 
	 
	United Kingdom

	 
	2018

	 
	 
	Sweden 

	 
	2018

	 
	 
	Switzerland

	 
	2018

	Canada

	CA2296750 

	Granted patent CA2296750

	2018

	Japan

	JP506548/1999 

	Granted patent JP3484201

	2018

	 
	JP2002-230240 

	Granted patent JP3691468

	2018

	United States

	US09/267.370 

	Granted patent US 6 685 911 

	2018

	 
	US10/610.709 

	Granted patent US 7 625 573 

Continuation of: US 09/267.370 

	2018

6Exhibit 10.1

 

EXECUTION

 

SIXTH AMENDMENT TO SECOND AMENDED

AND RESTATED CREDIT AGREEMENT

 

THIS SIXTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Sixth Amendment”), dated as of January 22, 2016, is entered into by and among SANCHEZ ENERGY CORPORATION, a Delaware corporation (“Borrower”), each of SEP HOLDINGS III, LLC, a Delaware limited liability company (“SEP”), SN MARQUIS LLC, a Delaware limited liability company (“SN Marquis”), SN COTULLA ASSETS, LLC, a Texas limited liability company (“SN Cotulla”), SN OPERATING, LLC, a Texas limited liability company (“SN Operating”), SN TMS, LLC, a Delaware limited liability company (“SN TMS”), and SN CATARINA, LLC, a Delaware limited liability company (“SN Catarina”; together with SEP, SN Marquis, SN Cotulla, SN Operating and SN TMS collectively, the “Guarantors” and each, a “Guarantor”), the Lenders party hereto (the “Approving Lenders”), and ROYAL BANK OF CANADA (“RBC”), as Administrative Agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”) and as Issuing Bank.

 

RECITALS

 

A.            The Borrower, the Guarantors, the Lenders, RBC, as Issuing Bank, and the Administrative Agent previously entered into that certain Second Amended and Restated Credit Agreement dated as of June 30, 2014 (as amended by that certain First Amendment to Second Amended and Restated Credit Agreement dated as of September 9, 2014, that certain Second Amendment to Second Amended and Restated Credit Agreement dated as of March 31, 2015, that certain Third Amendment to Second Amended and Restated Credit Agreement dated as of July 20, 2015, that certain Fourth Amendment to Second Amended and Restated Credit Agreement dated as of September 29, 2015, that certain Fifth Amendment to Second Amended and Restated Credit Agreement dated as of October 30, 2015 and as it may be further amended, restated, supplemented or modified from time to time, the “Credit Agreement”) and certain other Loan Documents (as defined in the Credit Agreement) in connection therewith.

 

B.            The Approving Lenders constitute the Required Lenders as defined in the Credit Agreement.

 

C.            The Borrower has requested that the Administrative Agent, RBC, as Issuing Bank, and the Lenders amend the Credit Agreement as set forth herein. The Administrative Agent, RBC, as Issuing Bank, and the Approving Lenders are willing to amend the Credit Agreement on the terms and conditions contained in this Sixth Amendment.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants set forth in this Sixth Amendment and other good and valuable consideration, the receipt and sufficiency of which are acknowledged by the parties hereto, the Borrower, the Guarantors, the Approving Lenders, RBC, as the Issuing Bank and the Administrative Agent agree as follows:

 

 

1.             Defined Terms. Unless otherwise defined herein, capitalized terms used herein have the meanings assigned to them in the Credit Agreement.

 

2.             Specific Amendments to Credit Agreement.  The Credit Agreement is hereby amended as follows:

 

(i)            The following defined terms are hereby added to Section 1.02 of the Credit Agreement in the proper alphabetical order:

 

“Intercreditor Agreement” means (a) an Intercreditor Agreement (in form approved by the Administrative Agent and the Required Lenders) among the Borrower, the other Loan Parties, the Administrative Agent and the administrative agent under the Permitted  Second  Lien  Documents,  and  (b) if  the Permitted Second Lien Debt is refinanced or replaced in accordance with the terms of such Intercreditor Agreement, any successor agreement entered into in accordance with such terms, in each case as the same may be amended, modified, supplemented or restated from time to time in accordance with the terms of the then effective Intercreditor Agreement.

 

“Permitted Second Lien Debt” means (a) Debt incurred on or after the Sixth Amendment Effective Date by the Borrower pursuant to a second lien credit facility; provided that: (i) such Debt shall be (A) in an aggregate principal amount not to exceed $400,000,000 plus any principal representing payment of interest in kind and (B) subject to the Intercreditor Agreement at all times that any Obligation is outstanding; and (ii) the Permitted Second Lien Documents shall not (A) provide for any scheduled payment of principal, scheduled mandatory Redemption or scheduled sinking fund payment before the date that is 180 days following June 30, 2019 or (B) contain terms and conditions, taken as a whole, more restrictive than those set forth in this Agreement; and (b) any second lien Debt incurred to refinance or replace the Debt referred to in the foregoing clause (a), to the extent that such refinancing or replacement is permitted under the Intercreditor Agreement.

 

“Permitted Second Lien Debt Original Principal Amount” means the aggregate principal amount of Permitted Second Lien Debt, excluding (a) any such Debt described in clause (b) of the definition of Permitted Second Lien Debt and (b) any Permitted Second Lien Debt comprised of principal representing payment of interest in kind.

 

“Permitted Second Lien Documents” means each credit or other loan agreement governing Permitted Second Lien Debt, all guarantees thereof and all other agreements, documents or instruments executed and delivered by any Loan Party in connection with, or pursuant to, the incurrence of Permitted Second Lien Debt.

 

Sixth Amendment to Sanchez

Second Amended and Restated Credit Agreement

 

2

 

“Sixth Amendment” means that certain Sixth Amendment to Second Amended and Restated Credit Agreement dated the Sixth Amendment Effective Date among the Borrower, the Guarantors, the Sixth Amendment Approving Lenders, RBC, as Issuing Bank, and the Administrative Agent.

 

“Sixth Amendment Approval Fee” means, in respect of a particular Sixth Amendment Approving Lender, a fee in an amount equal to the product of (a) the Elected Commitment of such Lender as of the Sixth Amendment Effective Date and (b) fifteen basis points.

 

“Sixth Amendment Approving Lender” means an “Approving Lender” as defined in the Sixth Amendment.

 

“Sixth Amendment Effective Date” means January 22, 2016.

 

“Sixth Amendment Effective Date Replenishment Amount” means $1,503,602.40, being the lesser of (a) $50,000,000 and (b) the aggregate cash consideration paid on or before the Sixth Amendment Effective Date by Unrestricted Subsidiaries to acquire Senior Unsecured Notes and/or Equity Interests issued by Borrower and, on or before the Sixth Amendment Effective Date, distributed to Borrower.

 

“SN Terminal “ means SN Terminal, LLC, a Delaware limited liability company.

 

“SN UR Holdings “ means SN UR Holdings, LLC, a Delaware limited liability company.

 

(ii)           The defined term “Agreement” in Section 1.02 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

“Agreement” means this Second Amended and Restated Credit Agreement, as amended by the First Amendment, Second Amendment, Third Amendment, Fourth Amendment, Fifth Amendment, Sixth Amendment and as the same may from time to time be amended, modified, supplemented or restated.

 

(iii)          The defined term “Borrowing Base” in Section 1.02 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

“Borrowing Base” means at any time an amount equal to the amount determined in accordance with Section 2.07, as the same may be adjusted from time to time pursuant to Section 8.13(c) or Section 9.11(e)(4). The Borrowing Base effective as of the Sixth Amendment Effective Date is $425,000,000 subject to adjustment as provided in Section 2.07(b).

 

(iv)          The defined term “Issuance Related Debt” in Section 1.02 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

3

 

“Issuance Related Debt” means (a) Senior Unsecured Notes (other than Senior Unsecured Notes described in clauses (i) and (ii) of the definition of Senior Unsecured Notes and registered senior unsecured notes issued in exchange for any Senior Unsecured Notes) and (b) Permitted Second Lien Debt (other than (i) Permitted Second Lien Debt issued in exchange for or the net proceeds of which are used to Redeem Senior Unsecured Notes, (ii) Permitted Second Lien Debt described in clause (b) of the definition of Permitted Second Lien Debt and (iii) Permitted Second Lien Debt comprised of principal representing payment of interest in kind). For the sake of clarity, Issuance Related Debt will not be deemed “incurred” for purposes of the definition of Issuance Related Borrowing Base Adjustment Amount (or “issued” for purposes of any provision of the Credit Agreement other than the definition of Senior Unsecured Notes Maximum Issuance Amount and Section 9.01) until termination or expiration of any escrow or other similar arrangement satisfactory to the Administrative Agent preventing Borrower (or any Restricted Subsidiary issuing such Debt) from having unrestricted access to and the right to use of the proceeds of such Issuance Related Debt.

 

(v)           The defined term “Senior Unsecured Note Maximum Issuance Amount” in Section 1.02 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

“Senior Unsecured Note Maximum Issuance Amount” means the maximum amount of Senior Unsecured Notes that at the time of issuance could be issued such that, after giving effect to such issuance and any repayment of Senior Unsecured Notes out of the proceeds thereof and the proceeds of any Permitted Second Lien Debt issued substantially contemporaneously therewith, the aggregate principal amount of Senior Unsecured Notes outstanding is not greater than the remainder of (a) $2,150,000,000 minus (b) the Permitted Second Lien Debt Original Principal Amount.

 

(vi)          The defined term “Unrestricted Cash” in Section 1.02 of the Credit Agreement is hereby deleted.

 

(vii)         The introductory language to the defined term “Unrestricted Subsidiary” in Section 1.02 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

“Unrestricted Subsidiary” means SN Midstream, SN Services, SN UR Holdings, SN Terminal and each other Subsidiary of the Borrower that is designated by the Board of Directors of the Borrower as an Unrestricted Subsidiary pursuant to a resolution of the Board of Directors of Borrower (in each case for so long as such Person remains a Subsidiary), but only to the extent that such Subsidiary:

 

(viii)        The defined term “Unrestricted Subsidiary Maximum Cash Investment Amount” in Section 1.02 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

4

 

“Unrestricted Subsidiary Maximum Cash Investment Amount” at any time means the amount equal to (A) $50,000,000, plus (B) the aggregate amount of dividends and other distributions received by the Borrower and the Restricted Subsidiaries in cash from Unrestricted Subsidiaries after the Effective Date to and including such time, plus (C) the Sixth Amendment Effective Date Replenishment Amount, minus (D) the aggregate amount drawn under Letters of Credit issued pursuant to Section 9.05(l) which have been drawn and for which the Borrower has not then been reimbursed by the Persons whose Debt or obligations were supported by such Letters of Credit.

 

(ix)          The following sentence is hereby inserted immediately after the first sentence of Section 2.07(a) of the Credit Agreement:

 

For the period from and including the Sixth Amendment Effective Date to but excluding the first Redetermination Date thereafter, the amount of the Borrowing Base shall be Four Hundred Twenty-Five Million and No/100 Dollars ($425,000,000).

 

(x)           The following Section 3.05(d) is hereby added to Section 3.05 of the Credit Agreement immediately after Section 3.05(c):

 

(d)           Sixth Amendment Approval Fee.  The Borrower agrees to pay to the Administrative Agent on the Sixth Amendment Effective Date for the account of each Sixth Amendment Approving Lender, the Sixth Amendment Approval Fee in respect of such Sixth Amendment Approving Lender.

 

(xi)          The last sentence of Section 7.01 of the Credit Agreement is hereby amended by deleting the word “Fifth” and substituting therefor the word “Sixth”.

 

(xii)         The second sentence of Section 7.12 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

The Administrative Agent and the Lenders have been named as additional insureds in respect of such liability insurance policies and the Administrative Agent has been named as loss payee with respect to Property loss insurance, in each case to the extent required under Section 8.07.

 

(xiii)        Section 7.13 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

Section 7.13  Restriction on Liens.  Neither the Borrower nor any of the Restricted Subsidiaries is a party to any material agreement or arrangement (other than the Intercreditor Agreement and the Permitted Second Lien Documents), or subject to any order, judgment, writ or decree, which either restricts or purports to restrict its ability to grant Liens to the Administrative Agent and the Lenders on or in respect of their Properties to secure the Obligations and the Loan Documents.

 

5

 

(xiv)        Section 7.14 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

Section 7.14  Subsidiaries.  Schedule 7.14 sets forth the name of, and the ownership interest of Borrower in, each Subsidiary of Borrower as of the Sixth Amendment Effective Date.  As of the Sixth Amendment Effective Date there are no Unrestricted Subsidiaries other than SN Midstream, SN Services, SN UR Holdings and SN Terminal. LLC.

 

(xv)         Clause (h) of Section 8.01 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

(h)           Incurrence of Second Lien Debt.  In the event that the Borrower intends to incur Permitted Second Lien Debt, prior written notice of such intended incurrence, the amount thereof, and the anticipated date of closing, which notice shall include a copy of the term sheet relating to such Permitted Second Lien Debt for the review and approval of the Administrative Agent and the Required Lenders and the Borrower will subsequently (but prior to the execution thereof) furnish the material documents governing the Permitted Second Lien Debt to the Administrative Agent for approval.

 

(xvi)        The last sentence of Section 8.07 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

For the sake of clarity, (i) no Loan Party shall be required to have endorsed in favor of the Administrative Agent, or have the Administrative Agent or the Lenders named as “additional insureds” on any (x) aviation, business interruption, commercial auto, control of well, D&O or employee practices liability policy, (y) property insurance policy covering computers and equipment, including office equipment or (z) in connection with the lease described in item (2) of Schedule 9.07  and (ii) it is understood and agreed that the endorsement of such policy #BD-CJP-579 in favor of and payable to the Administrative Agent as its interest may appear shall be limited to the portion thereof with respect to the assets in the Barnhart and Cotulla area and shall not extend to any assets that have been transferred by the Borrower or relevant Subsidiary to SPP.

 

(xvii)       Clause (b)(ii) of Section 8.13 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

(ii)           substitute acceptable Collateral which constitutes Oil and Gas Properties having an equivalent value and with no title defects or exceptions except for Excepted Liens (other than Excepted Liens described in clauses (e), (g) and (h) of such definition) and Liens permitted by Section 9.03(c) or

 

(xviii)      Clause (a)(iii) of Section 8.16 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

6

 

(iii) if requested, UCC searches in form and substance satisfactory to the Administrative Agent, and evidence reasonably satisfactory to the Administrative Agent that any Liens indicated in such UCC searches are Excepted Liens, Liens permitted by Section 9.03(c) or have been released,

 

(xix)        Section 9.02(c) of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

(c)           Permitted Second Lien Debt and guarantees thereof by any Loan Party a party to the Intercreditor Agreement; provided that the proceeds of such Permitted Second Lien Debt are used first to repay the Loans to the extent of any Borrowing Base Deficiency resulting from any Issuance Related Borrowing Base Adjustment Amount resulting therefrom, and second, the balance if any, to finance general corporate purposes;

 

(xx)         Section 9.03(c) of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

(c)           Liens on Collateral securing the Permitted Second Lien Debt that are subject to the Intercreditor Agreement;

 

(xxi)        Section 9.04, exception clause (f) of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

(f) so long as at the time of and after giving effect to any such repurchase, Borrower and the Restricted Subsidiaries have cash in an aggregate amount in excess of the sum of the Credit Exposures of the Lenders at such time and subject in all respects to Section 9.05(r), (i) repurchases for aggregate cash consideration not to exceed $50,000,000 (less the amount of the Sixth Amendment Effective Date Replenishment Amount attributable to Equity Interests other than Preferred Stock issued by Borrower) of Equity Interests other than Preferred Stock issued by Borrower and (ii) repurchases for aggregate cash consideration not to exceed $100,000,000 (less the amount of the Sixth Amendment Effective Date Replenishment Amount attributable to Preferred Stock issued by Borrower) of Preferred Stock issued by Borrower;

 

(xxii)       Section 9.05(a) of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

(a)           any Investment in (i) any Restricted Subsidiary or (ii) any Unrestricted Subsidiary if, after giving effect to such Investment, such Unrestricted Subsidiary becomes a Restricted Subsidiary and complies with the requirements of Section 8.16;

 

(xxiii)      Section 9.05(m) of the Credit Agreement is hereby amended by deleting the phrase “SPP Units;” and substituting the following therefor:

 

7

 

Equity Interests in Unrestricted Subsidiaries;.

 

(xxiv)     Section 9.05(r) of the Credit Agreement and the proviso following such section are hereby deleted and the following is substituted therefor:

 

(r)            Senior Unsecured Notes and Equity Interests issued by the Borrower; provided, that the aggregate cash consideration paid by the Borrower and the Restricted Subsidiaries to purchase Senior Unsecured Notes and Equity Interests issued by the Borrower is not greater than the remainder of (i) $100,000,000 minus (ii) the Sixth Amendment Effective Date Replenishment Amount; and provided, further, for the sake of clarity that the limitation in the foregoing proviso shall not apply to the issuance of Permitted Second Lien Debt in exchange for Senior Unsecured Notes and/or Equity Interests issued by the Borrower; and

 

provided, further, that none of the foregoing shall involve the incurrence of any Debt not permitted by Section 9.02 or any repurchase for cash consideration of Equity Interests issued by the Borrower not permitted by Section 9.04.

 

(xxv)      Section 9.11(f)(ii) of the Credit Agreement is hereby amended by deleting the phrase “SPP Units” and substituting the following therefor:

 

Equity Interests in Unrestricted Subsidiaries

 

(xxvi)     Clause (b) of the proviso in Section 9.15 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

(b) the Senior Unsecured Loan Documents, the Intercreditor Agreement or the Permitted Second Lien Documents,

 

(xxvii)    The last sentence of clause (a) of Section 9.20 of the Credit Agreement is hereby deleted and the following is substituted therefor:

 

Without limitation of the preceding sentence except as expressly set forth in the proviso to this sentence, (i) SN Services may own and operate aircraft, (ii) any Unrestricted Subsidiary may engage in the business of marketing, processing, treating, gathering, and transporting Hydrocarbons without limitation as to who produced such Hydrocarbons, and (iii) any Unrestricted Subsidiary may make direct or indirect investments in Oil and Gas Properties and other assets used or useful in the conduct of the oil and gas business and Persons in the oil and gas industry (including acquisitions of Debt of and Equity Interests in other Persons in the oil and gas industry), including Oil and Gas Properties and other assets and Persons which are not located within the geographical boundaries of the U.S. or the offshore area in the Gulf of Mexico over which the U.S. asserts jurisdiction; provided, that Borrower may not permit any Unrestricted Subsidiary to acquire

 

8

 

any Debt of or Equity Interests in Borrower on or after the Sixth Amendment Effective Date.

 

(xxviii)   A new Section 9.22 of the Credit Agreement reading as set forth below is hereby inserted following Section 9.21 of the Credit Agreement:

 

Section 9.22         Repayment of Permitted Second Lien Debt; Amendment of Terms of Permitted Second Lien Documents.  The Borrower will not, and will not permit any Restricted Subsidiary to, prior to the date that is 180 days after June 30, 2019: (a) call, make or offer to make any optional or voluntary Redemption of or otherwise optionally or voluntarily Redeem (whether in whole or in part) any Permitted Second Lien Debt (other than in connection with a refinancing thereof permitted under the Intercreditor Agreement), or (b) amend, modify, waive or otherwise change, consent or agree to any amendment, modification, waiver or other change to, any of the terms of the Permitted Second Lien Documents other than amendments or other modifications that are permitted under the Intercreditor Agreement.  For the sake of clarity, nothing in this Section 9.22 shall restrict the payment of interest on any Permitted Second Lien Debt in accordance with the Intercreditor Agreement.

 

(xxix)     A new Schedule 7.01 to the Credit Agreement, “Corporate Organizational Chart” in the form attached as Schedule 7.01 to this Sixth Amendment is hereby added to the Credit Agreement in substitution for the prior Schedule 7.01.

 

(xxx)      A new Schedule 7.14 to the Credit Agreement, “Subsidiaries” in the form attached as Schedule 7.14 to this Sixth Amendment is hereby added to the Credit Agreement in substitution for the prior Schedule 7.14.

 

(xxxi)     Schedule 9.02 and Schedule 9.03 of the Credit Agreement and the references thereto in the Table of Contents of the Credit Agreement are each hereby deleted without replacement.

 

3.             Loan Parties’ Ratification. Subject to the conditions set out in Section 6, Borrower (and each Loan Party by its execution in the space provided below under “ACKNOWLEDGED for purposes of Sections 3 and 4”) hereby ratifies all of its Obligations under the Credit Agreement and each of the Loan Documents to which it is a party (other than the Guaranty which is specifically addressed in Section 4), and agrees and acknowledges that the Credit Agreement and each of the Loan Documents to which it is a party (other than the Guaranty which is specifically addressed in Section 4) are and shall continue to be in full force and effect. Nothing in this Sixth Amendment extinguishes, novates or releases any right, claim, Lien, security interest or entitlement of any of the Lenders, any Issuing Bank or the Administrative Agent created by or contained in any of such documents nor is any Loan Party released from any covenant, warranty or obligation created by or contained herein or therein.  Each Loan Party (other than the Borrower) agrees that its execution and delivery of this Sixth Amendment does not indicate or establish an approval or consent requirement by any such Loan Party under the Credit Agreement in connection with the execution and delivery of amendments to the Credit

 

9

 

Agreement, the Notes or any of the other Loan Documents (other than any Loan Document to which such a Loan Party is a party).

 

4.             Guarantors’ Ratification. Each Guarantor by its execution in the space provided below under “ACKNOWLEDGED for purposes of Sections 3 and 4” hereby ratifies, confirms, acknowledges and agrees that its obligations under the Guaranty are in full force and effect and that such Guarantor continues to unconditionally and irrevocably guarantee the full and punctual payment, when due, whether at stated maturity or earlier by acceleration or otherwise, of the Obligations, and its execution and delivery of this Sixth Amendment does not indicate or establish an approval or consent requirement by any Guarantor under the Guaranty in connection with the execution and delivery of amendments to the Credit Agreement, the Notes or any of the other Loan Documents (other than the Guaranty or any other Loan Document to which a Guarantor is a party).

 

5.             Conditions to Effectiveness of Sixth Amendment. This Sixth Amendment shall be effective upon the satisfaction, in the Administrative Agent’s sole discretion, of the following conditions precedent:

 

(i)                                     The Administrative Agent shall have executed, and shall have received from the Borrower, RBC, as Issuing Bank, and the Required Lenders duly executed signature pages to, this Sixth Amendment, and shall have received a duly executed acknowledgement of Sections 3 and 4 of this Sixth Amendment from each Guarantor;

 

(ii)                                  the Administrative Agent shall have received such other documents as the Administrative Agent or its counsel may reasonably request; and

 

(iii)                               the Borrower shall have paid the Administrative Agent for the account of each Approving Lender the Sixth Amendment Approval Fee due such Approving Lender.

 

6.             No Implied Amendment, Waiver or Consent. This Sixth Amendment shall not constitute an amendment or waiver of any provision not expressly referred to herein and shall not be construed as a consent to any action on the part of the Borrower that would require a waiver or consent of the Lenders or Required Lenders, as applicable, or an amendment or modification to any term of the Loan Documents except as expressly stated herein.

 

7.             Miscellaneous. This Sixth Amendment is a Loan Document. Except as affected by this Sixth Amendment, the Loan Documents are unchanged and continue in full force and effect. However, in the event of any inconsistency between the terms of the Credit Agreement, as amended by this Sixth Amendment, and any other Loan Document, the terms of the Credit Agreement will control and the other document will be deemed to be amended to conform to the terms of the Credit Agreement. All references to the Credit Agreement will refer to the Credit Agreement as amended by this Sixth Amendment and any other amendments properly executed among the parties. Borrower agrees that all Loan Documents to which it is a party (whether as an original signatory or by assumption of the Obligations) remain in full force and effect and

 

10

 

continue to evidence its legal, valid and binding obligations enforceable in accordance with their terms (as the same are affected by this Sixth Amendment or are amended in connection with this Sixth Amendment). AS A MATERIAL INDUCEMENT TO THE ADMINISTRATIVE AGENT, THE ISSUING BANKS AND LENDERS PARTY HERETO TO ENTER INTO THIS SIXTH AMENDMENT, BORROWER RELEASES THE ADMINISTRATIVE AGENT, THE ISSUING BANKS, THE LENDERS AND THEIR RESPECTIVE PREDECESSORS, SUCCESSORS, ASSIGNS, DIRECTORS, OFFICERS, EMPLOYEES, TRUSTEES, AGENTS AND ATTORNEYS FROM ANY LIABILITY FOR ACTIONS OR FAILURES TO ACT IN CONNECTION WITH THE LOAN DOCUMENTS PRIOR TO THE SIXTH AMENDMENT EFFECTIVE DATE. NO COURSE OF DEALING BETWEEN BORROWER OR ANY OTHER PERSON, ON THE ONE HAND, AND THE ADMINISTRATIVE AGENT, ISSUING BANKS AND THE LENDERS, ON THE OTHER, WILL BE DEEMED TO HAVE ALTERED OR AMENDED THE CREDIT AGREEMENT OR AFFECTED BORROWER’S, THE ADMINISTRATIVE AGENT’S, THE ISSUING BANKS’ OR THE LENDERS’ RIGHT TO ENFORCE THE CREDIT AGREEMENT AS WRITTEN. This Sixth Amendment will be binding upon and inure to the benefit of each of the undersigned and their respective successors and permitted assigns.

 

8.             Form. Each agreement, document, instrument or other writing to be furnished to the Administrative Agent and/or the Lenders under any provision of this instrument must be in form and substance satisfactory to the Administrative Agent and its counsel.

 

9.             Headings. The headings and captions used in this Sixth Amendment are for convenience only and will not be deemed to limit, amplify or modify the terms of this Sixth Amendment, the Credit Agreement, or the other Loan Documents.

 

10.          Interpretation. Wherever possible each provision of this Sixth Amendment shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Sixth Amendment shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Sixth Amendment.

 

11.          Multiple Counterparts. This Sixth Amendment may be separately executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same agreement. This Sixth Amendment may be transmitted and/or signed by facsimile, telecopy or electronic mail. The effectiveness of any such documents and signatures shall, subject to applicable law, have the same force and effect as manually-signed originals and shall be binding on all Loan Parties, all Lenders, the Administrative Agent and the Issuing Banks. The Administrative Agent may also require that any such documents and signatures be confirmed by a manually-signed original thereof; provided, however, that the failure to request or deliver the same shall not limit the effectiveness of any facsimile document or signature.

 

12.          Governing Law. THIS SIXTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CHOICE-OF-LAW PROVISIONS THAT WOULD

 

11

 

REQUIRE THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS SIXTH AMENDMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

[Signature Pages Follow]

 

12

 

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

 

	
 
    	
BORROWER:
    
	
 
    	
 
    
	
 
    	
SANCHEZ   ENERGY CORPORATION,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   G. Gleeson Van Riet
    
	
 
    	
 
    	
G.   Gleeson Van Riet
    
	
 
    	
 
    	
Senior   Vice President — Chief Financial
    
	
 
    	
 
    	
Officer
    
				

 

1

 

	
 
    	
ACKNOWLEDGED   for the purposes stated in Sections 3 and 4:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
GUARANTORS:
    
	
 
    	
 
    
	
 
    	
SEP   HOLDINGS III, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
SN   MARQUIS LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
SN   COTULLA ASSETS, LLC,
    
	
 
    	
a   Texas limited liability company
    
	
 
    	
 
    
	
 
    	
SN   OPERATING, LLC,
    
	
 
    	
a   Texas limited liability company
    
	
 
    	
 
    
	
 
    	
SN   TMS, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
SN   CATARINA, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   G. Gleeson Van Riet
    
	
 
    	
 
    	
G.   Gleeson Van Riet
    
	
 
    	
 
    	
Senior   Vice President — Chief Financial
    
	
 
    	
 
    	
Officer
    
				

 

2

 

	
 
    	
ADMINISTRATIVE AGENT:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ROYAL   BANK OF CANADA, as Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Rodica Dutka
    
	
 
    	
Name:
    	
Rodica   Dutka
    
	
 
    	
Title:
    	
Manager, Agency
    

 

3

 

	
 
    	
ISSUING BANK AND APPROVING LENDER:
    
	
 
    	
 
    
	
 
    	
ROYAL BANK OF CANADA
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Mark Lumpkin, Jr.
    
	
 
    	
Name:
    	
Mark Lumpkin, Jr.
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

4

 

	
 
    	
APPROVING   LENDERS:
    
	
 
    	
 
    
	
 
    	
CAPITAL   ONE, NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Matthew Brice
    
	
 
    	
Name:
    	
Matthew   Brice
    
	
 
    	
Title:
    	
Vice President
    

 

5

 

	
 
    	
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Nupur Kumar
    
	
 
    	
Name:
    	
Nupur Kumar
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Warren Van Heyst
    
	
 
    	
Name:
    	
Warren Van Heyst
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

6

 

	
 
    	
COMPASS   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Les Werme
    
	
 
    	
Name:
    	
Les Werme
    
	
 
    	
Title:
    	
Director
    

 

7

 

	
 
    	
SUNTRUST BANK
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Chulley Bogle
    
	
 
    	
Name:
    	
Chulley Bogle
    
	
 
    	
Title:
    	
Vice President
    

 

8

 

	
 
    	
ING   CAPITAL LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Josh Strong
    
	
 
    	
Name:
    	
Josh   Strong
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Charles Hall
    
	
 
    	
Name:
    	
Charles   Hall
    
	
 
    	
Title:
    	
Managing   Director
    

 

9

 

	
 
    	
BRANCH BANKING AND TRUST COMPANY
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert Kret
    
	
 
    	
Name:
    	
Robert   Kret
    
	
 
    	
Title:
    	
AVP
    

 

10

 

	
 
    	
IBERIABANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stacy Goldstein
    
	
 
    	
Name:
    	
Stacy   Goldstein
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

11

 

	
 
    	
MUFG UNION BANK, N.A., f/k/a Union Bank, N.A.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Brian Hawk
    
	
 
    	
Name:
    	
Brian Hawk
    
	
 
    	
Title:
    	
Vice   President
    

 

12

 

	
 
    	
SOCIÉTÉ   GENÉRALÉ
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   David Bornstein
    
	
 
    	
Name:
    	
David   Bornstein
    
	
 
    	
Title:
    	
Director,   Reserve Based Fianance
    

 

13

 

	
 
    	
BMO   HARRIS BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   James V. Ducote
    
	
 
    	
Name:
    	
James   V. Ducote
    
	
 
    	
Title:
    	
Managing   Director
    

 

14

 

	
 
    	
CREDIT   AGRICOLE CORPORATE AND INVESTMENT BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mark Roche
    
	
 
    	
Name:
    	
Mark   Roche
    
	
 
    	
Title:
    	
Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Nimisha Srivastav
    
	
 
    	
Name:
    	
Nimisha   Srivastav
    
	
 
    	
Title:
    	
Director
    

 

15

 

	
 
    	
SUMITOMO   MITSUI BANKING CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   James D. Weinstein
    
	
 
    	
Name:
    	
James   D. Weinstein
    
	
 
    	
Title:
    	
Managing   Director
    

 

16

 

	
 
    	
U.S.   BANK NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

17

 

	
 
    	
COMERICA   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jeff Treadway
    
	
 
    	
Name:
    	
Jeff   Treadway
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

18

 

	
 
    	
FIFTH   THIRD BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Justin Bellamy
    
	
 
    	
Name:
    	
Justin   Bellamy
    
	
 
    	
Title:
    	
Director
    

 

19

 

SCHEDULE 7.01

 

CORPORATE ORGANIZATIONAL CHART

 

 

All of the membership interests in each of SN Catarina, LLC, SEP Holdings III, LLC, SN Marquis LLC, SN Cotulla Assets, LLC, SN Operating, LLC, SN Midstream, LLC, SN TMS, LLC, SN Services, LLC, and SN UR Holdings, LLC are owned by Sanchez Energy Corporation.

 

 

SCHEDULE 7.14

 

SUBSIDIARIES

 

	
Name of Subsidiary
    	
 
    	
Jurisdiction of
   Organization
    	
 
    	
Federal Taxpayer ID
    	
 
    	
Ownership Interest
    
	
SEP Holdings III, LLC
    	
 
    	
Delaware
    	
 
    	
45-3193696
    	
 
    	
100% Membership Interest held by Borrower
    
	
SN Catarina, LLC
    	
 
    	
Delaware
    	
 
    	
45-3090102
    	
 
    	
100% Membership Interest held by Borrower
    
	
SN Cotulla Assets, LLC
    	
 
    	
Texas
    	
 
    	
45-3090102
    	
 
    	
100% Membership Interest held by Borrower
    
	
SN Marquis LLC
    	
 
    	
Delaware
    	
 
    	
45-3090102
    	
 
    	
100% Membership Interest held by Borrower
    
	
SN Operating, LLC
    	
 
    	
Texas
    	
 
    	
38-3902143
    	
 
    	
100% Membership Interest held by Borrower
    
	
SN Midstream, LLC
    	
 
    	
Delaware
    	
 
    	
45-3090102
    	
 
    	
100% Membership Interest held by Borrower
    
	
SN Services, LLC
    	
 
    	
Delaware
    	
 
    	
45-3090102
    	
 
    	
100% Membership Interest held by Borrower
    
	
SN Terminal, LLC
    	
 
    	
Delaware
    	
 
    	
45-3090102
    	
 
    	
100% Membership Interest held by SN UR Holdings, LLC
    
	
SN TMS, LLC
    	
 
    	
Delaware
    	
 
    	
45-3090102
    	
 
    	
100% Membership Interest held by Borrower
    
	
SN UR Holdings, LLC
    	
 
    	
Delaware
    	
 
    	
45-3090102
    	
 
    	
100% Membership Interest held by Borrower

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