Document:

Exhibit 10.1

 

STOCK REPURCHASE AGREEMENT

 

THIS STOCK REPURCHASE AGREEMENT (this “Agreement”)
is made and entered into as of November 6, 2015, by and among United Community Bancorp, Inc., an Indiana Corporation (the “Company”),
and each of the entities listed on Schedule I hereto (each a “Seller,” and collectively, the “Sellers”).

 

WITNESSETH:

 

WHEREAS, as of the date hereof, each Seller
is the beneficial owner of the shares of issued and outstanding common stock, par value $0.01 per share, of the Company (“Company
Common Stock”) as set forth beside each Seller’s name on Schedule I hereto (collectively, the “Shares”);
and

 

WHEREAS, Sellers desire to sell, and the
Company desires to purchase, the Shares for the consideration and on the terms set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the
foregoing premises and the mutual promises, covenants and agreements hereinafter set forth, the parties hereto agree as follows:

 

ARTICLE I

 

REPURCHASE OF THE SHARES

 

1.1Repurchase. At the Closing (as hereinafter
defined), upon the terms and subject to the conditions of this Agreement, Sellers agree to sell, transfer, convey, assign, and
deliver the Shares to the Company, and the Company agrees to purchase and accept delivery of the Shares from the Sellers, in exchange
for the payment by the Company to Seller of a cash purchase price equal to Fifteen Dollars and Zero Cents ($15.00 ) per Share (the
“Purchase Price”).

 

1.2Closing. Subject to the terms set forth in
this Agreement, the closing of the purchase and sale of the Shares (the “Closing”) shall take place on November
6, 2015 at 12:00 p.m. Eastern Time at the offices of Kilpatrick Townsend & Stockton LLP, 607 14th Street, N.W.,
Washington, D.C. 20005, or such later date as may be agreed to by the parties. At the Closing, the Company shall pay to each Seller,
by wire transfer of immediately available funds pursuant to written instructions provided in advance by each Seller, and amount
equal to the Purchase Price multiplied by the number of each such Seller’s Shares being sold to the Company. Immediately
following the confirmation of receipt of the wire transfer from the Company of each Seller’s aggregate Purchase Price to
each Seller’s account, each Seller shall deliver the Shares to the Company or its authorized agents.

 

     

     

    

 

ARTICLE II

 

REPRESENTATIONS AND WARRANTIES OF
THE COMPANY

 

The Company represents and warrants to each
Seller as follows:

 

2.1Organization. The Company is a corporation
duly organized, validly existing, and in good standing under the laws of the State of Indiana.

 

2.2Authorization. The Company has the full legal
right, corporate power, and authority to execute and deliver this Agreement and to consummate the transactions contemplated hereby.
This Agreement has been duly authorized, executed, and delivered by the Company, and all necessary action has been taken to make
this Agreement a legal, valid, and binding obligation of the Company, enforceable in accordance with its terms.

 

2.3Approvals and Consents. No consents, authorizations,
waivers, filings, registrations or approvals (including regulatory approvals) that have not been previously obtained are required
in connection with the execution and delivery of this Agreement by the Company, the consummation of the transactions contemplated
hereby or the performance by Company of its obligations hereunder.

 

2.4No Other Representations or Warranties. Except
for the representations and warranties contained in this Agreement, neither the Company nor any other person on behalf of the Company
makes any other express or implied representation or warranty with respect to the Company or with respect to any other information
provided by or on behalf of the Company.

 

ARTICLE III

 

REPRESENTATIONS AND WARRANTIES OF
SELLERS

 

Each Seller represents and warrants to the
Company as follows:

 

3.1Organization. Each Seller is a limited partnership
duly organized, validly existing, and in good standing under the laws of the State of Delaware.

 

3.2Authorization. Seller has the full legal right,
power, and authority to execute and deliver this Agreement and to consummate the transactions contemplated hereby. This Agreement
has been duly authorized, executed, and delivered by the Seller, and all necessary action has been taken to make this Agreement
a legal, valid, and binding obligation of the Seller,

enforceable in accordance with its terms.

 

3.3Ownership of the Shares. Each Seller is the
sole record owner of the Shares as specified on Schedule I hereto. There are no contracts, commitments, agreements, understandings
or arrangements of any kind (contingent or otherwise) relating to the sale or transfer by Seller of any of its Shares.

 

    	 	2	 

     

    

 

3.4Title. Seller has good, valid, and marketable
title to its Shares, free and clear of any and all security interest, pledge, lien, charge, voting agreement, proxy, mortgage,
option, adverse claim or ownership or use, or any other encumbrance of any kind, character, or description whatsoever. Upon each
delivery of the Shares hereunder and payment therefor pursuant hereto, good and valid title to such Shares, free and clear of all
liens, pledges, charges, equities, claims and encumbrances, will pass to the Company.

 

3.5Approvals and Consents. No consents, authorizations,
waivers, filings, registrations or approvals that have not been previously obtained are required in connection with the execution
and delivery of this Agreement by Seller, the consummation of the transactions contemplated hereby or the performance by Seller
of its obligations hereunder. The execution and delivery of this Agreement by each Seller and the sale and delivery of the Shares
will not conflict with or result in a breach or violation of any of the terms or provisions of its partnership agreement or equivalent
constituent documents or result in the breach or violation of any of the terms or provisions of, or constitute a default under,
any indenture, mortgage, deed of trust, loan agreement or any other agreement or instrument to which it is a party or by which
it is bound.

 

3.6Information Concerning the
Company. Seller acknowledges that the Company may be in possession of material non-public information about the Company
and its subsidiaries not known to Seller. Seller hereby waives any and all claims and causes of action now or hereafter
arising against the Company based upon or relating to any alleged non-disclosure of such information and further covenants
not to assert any claims against or to sue the Company or any of its directors, officers, employees, partners, agents or
affiliates for any loss, damage or liability arising from or relating to its offer and sale of Seller’s Shares pursuant
to this Agreement arising out of, based upon or in connection with any alleged nondisclosure of such information. It is
understood and agreed that neither the Company nor Seller makes any representation or warranty to the other whatsoever with
respect to the business, condition (financial or otherwise), properties, prospects, creditworthiness, status or affairs of
the Company or any of its subsidiaries, or with respect to the value of the Shares.

 

3.7No Brokers. Seller is not a party to any agreement,
arrangement, or understanding with any person that could result in the Company having any obligation or liability for any brokerage
fees, commissions, or other similar fees or expenses relating to this Agreement or the transactions contemplated hereby.

 

3.8  No Proceedings.  There is not pending or, to Seller's knowledge, threatened against Seller any action, suit or
proceeding at law or in equity before any court, tribunal, governmental body, agency or official or any arbitrator that might affect
the legality, validity or enforceability against such Seller of this Agreement or such Seller's ability to perform such Seller's
obligations hereunder.

 

 

    	 	3	 

     

    

 

 

 

 

ARTICLE IV

 

CLOSING CONDITIONS

 

4.1Conditions to the Company’s Obligations.
The obligations of the Company under Article I to purchase the Shares at the Closing are subject to the satisfaction of the following
conditions:

 

(a) The representations and warranties made by Sellers
shall be true and correct in all material respects as of the Closing.

 

4.2Conditions to Seller’s Obligations.
The obligations of Sellers under Article I to sell the Shares at the Closing are subject to the satisfaction of the following conditions:

 

(a) The representations and warranties made by the
Company shall be true and correct in all material respects as of the Closing.

 

 

ARTICLE V

 

MISCELLANEOUS

 

5.1Expenses. The Company and Sellers shall each
bear their own expenses incurred in connection with this Agreement and the consummation of the transactions contemplated hereby.

 

5.2Specific Performance. Sellers and the Company
agree that money damages are inadequate and that each will suffer irreparable harm with respect to a failure to abide by any covenant
made under the terms of this Agreement or any requirement under this Agreement relating to or affecting the sale of the Shares,
and that, accordingly, in addition to any money damages which might be awarded with reasonable certainty, each shall be entitled
to demand specific performance or to seek injunctive relief whether with regard to a breach or contemplated breach. All rights,
remedies and benefits specified in this Agreement, including, but not limited to the rights, remedies and benefits contained in
this Section 5.2 are not exclusive of any rights, remedies or benefits which any party may otherwise have.

 

5.3Notices. All notices and other communications
required hereunder shall be in writing and delivered personally, delivered by a recognized next-day courier service or mailed by
registered or certified mail. All such notices and communications shall be delivered as set forth below, or pursuant to such other
instructions as may be designated in writing by the party

to receive such notice:

 

    	 	4	 

     

    

  

	 	(a)	if to the Company, to:
	 	 	 
	 	 	United Community Bancorp, Inc.
	 	 	92 Walnut Street
	 	 	Lawrenceburg, IN 47025
	 	 	Attention:  Elmer G. McLaughlin
	 	 	 
	 	with a copy (which shall not constitute notice) to: 
	 	 	 
	       	 	Kilpatrick Townsend & Stockton LLP
	 	 	607 14th Street, NW, Suite 900
	 	 	Washington, DC 20005
	 	 	Attention:  Edward G. Olifer
	 	 	 
	 	(b)	if to Sellers, to:
	 	 	 
	 	 	The Stilwell Group
	 	 	111 Broadway
	 	 	12th Floor
	 	 	New York, NY  10006
	 	 	Attention:  Corissa Briglia

 

5.4Governing Law. This Agreement shall be construed,
performed, and enforced in accordance with, and governed by, the laws of the State of Indiana, without giving effect to the principles
of conflicts of laws thereof.

 

5.5Assignment. Neither the Company nor any Seller
shall transfer or assign this Agreement or any of its rights, interests, or obligations hereunder, in whole or in part, whether
voluntarily, by operation of law or otherwise, without the prior written approval of the other party. Any assignment made in violation
of this Section 5.5 shall be void.

 

5.6Severability. The invalidity of any term or
terms of this Agreement will not affect any other term of this Agreement, which will remain in full force and effect.

 

5.7Counterparts. This Agreement may be executed
simultaneously in counterparts, both of which shall be deemed an original, but all counterparts so executed will constitute one
and the same agreement.

 

 

[Signatures on the following page]

 

    	 	5	 

     

    

  

IN WITNESS WHEREOF, this Stock Repurchase
Agreement has been duly executed on behalf of each of the parties hereto as of the day first above written.

 

	
        COMPANY:

         

        United Community Bancorp, Inc.
	 	 
	 	 	 
	
        By:/s/ Elmer G. McLaughlin                             

        Name:Elmer G. McLaughlin

        Title:President and CEO

         

         
	 	 
	
        SELLERS:

         
	 	 
	Stilwell Activist Fund, L.P.	 	 
	
        By:STILWELL VALUE LLC

               General Partner

         

        /s/ Corissa Briglia                                              

        By:Corissa Briglia

                Co-Managing Member
	 	 
	 	 	 
	Stilwell Activist Investments, L.P.	 	 
	 	 	 
	
        By:STILWELL VALUE LLC

               General Partner

         

        /s/ Corissa Briglia                                             

        By:Corissa Briglia

                Co-Managing Member
	 	 
	 	 	 
	Stilwell Partners, L.P.	 	 
	 	 	 
	
        By:STILWELL VALUE LLC

               General Partner

         

        /s/ Corissa Briglia                                                 

        By:Corissa Briglia

                Co-Managing Member
	 	 

 

    	 	6	 

     

    

 

SCHEDULE I

 

LIST OF SELLERS

 

 

	SELLER	 	SHARES BENEFICIALLY OWNED 
	 	 	 
	Stilwell Activist Fund, L.P.	 	21,668
	Stilwell Activist Investments, L.P.	 	162,088
	Stilwell Partners, L.P.	 	135,000
	TOTAL	 	318,756rexx-ex101_289.htm

 

Exhibit 10.1

Execution Version

 

Eighth Amendment

to

Amended and Restated Credit Agreement

among

Rex Energy Corporation,

as Borrower,

The Guarantors,

Royal Bank of Canada,

as Administrative Agent,

KeyBank National Association,

as Syndication Agent,

SunTrust Bank,

as Documentation Agent,

RBC Capital Markets,

KeyBank National Association,

and

SunTrust Bank,

as Joint Lead Arrangers and Joint Bookrunners,

and

The Lenders Signatory Hereto

Dated as of September 4, 2015

 

 

 

 

LEGAL_US_W # 82784085.2 

 

Eighth Amendment to Amended and Restated Credit Agreement

This Eighth Amendment to Amended and Restated Credit Agreement (this “Eighth Amendment”) dated as of September 4, 2015 is among Rex Energy Corporation, a corporation formed under the laws of the State of Delaware (the “Borrower”); each of the undersigned guarantors (the “Guarantors”, and together with the Borrower, the “Obligors”); Royal Bank of Canada, as administrative agent for the Lenders (in such capacity, together with its successors, the “Administrative Agent”); and the Lenders signatory hereto.

Recitals

A. The Borrower, the Administrative Agent and the Lenders are parties to that certain Amended and Restated Credit Agreement dated as of March 27, 2013 (as amended by the First Amendment to Amended and Restated Credit Agreement dated January 14, 2013, the Second Amendment to Amended and Restated Credit Agreement dated as of March 26, 2014, the Third Amendment to Amended and Restated Credit Agreement dated as of July 11, 2014, the Fourth Amendment to Amended and Restated Credit Agreement dated as of August 15, 2014, the Fifth Amendment to Amended and Restated Credit Agreement dated as of September 12, 2014, the Sixth Amendment to Amended and Restated Credit Agreement dated as of December 16, 2014 and the Seventh Amendment to Amended and Restated Credit Agreement dated as of March 27, 2015, the “Credit Agreement”), pursuant to which the Lenders have made certain credit available to and on behalf of the Borrower.

B. The Borrower and Guarantors are parties to that certain Amended and Restated Guaranty and Collateral Agreement dated as of March 27, 2013 made by each of the Grantors (as defined therein) in favor of the Administrative Agent (the “Guaranty”).

C. The Borrower, the Administrative Agent and the Lenders have agreed to amend certain provisions of the Credit Agreement as more fully set forth herein.

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

Section 1. Defined Terms.  Each capitalized term which is defined in the Credit Agreement, but which is not defined in this Eighth Amendment, shall have the meaning ascribed such term in the Credit Agreement.  Unless otherwise indicated, all article, section and exhibit references in this Eighth Amendment refer to articles, sections and exhibits of the Credit Agreement.

Section 2. Amendments to Section 1.02 – Certain Defined Terms.  

2.1 The following definitions are hereby added where alphabetically appropriate to read as follows:

“Cash Equivalents” means any Investment of the types described in Section 9.05(c) through Section 9.05(g).

“Eighth Amendment” means that certain Eighth Amendment to Amended and Restated Credit Agreement, dated as of September 4, 2015, among the Borrower, the Guarantors, the Administrative Agent and the Lenders party thereto.

“Eighth Amendment Effective Date” has the meaning ascribed to such term in the Eighth Amendment.

“Liquidity” means, as of any date of determination, the sum of (a) the unused amount of the Commitments plus (b) the aggregate amount of Unrestricted Cash of the Borrower and its Subsidiaries at such date.

“Reasonably Anticipated Projected Production” means reasonably anticipated projected production from total Proved Reserves attributable to Oil and Gas Properties of the Borrower and its Subsidiaries, determined by reference to either (a) the Reserve Report most recently delivered pursuant to Section 8.12, or (b) a Reserve Report with a recent “as of date” delivered to the Administrative Agent for the purpose of Section 9.18 (together with the certificate referred to in Section 8.12(c)), which shall be prepared by or under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate in all material respects and, except as therein disclosed, to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve Report.

“Unrestricted Cash” means cash and Cash Equivalents of the Borrower or any of its Subsidiaries that would not appear as “restricted” on a consolidated balance sheet of the Borrower or any of its Subsidiaries.

Section 3. Amendment to Section 2.02(c).  Section 2.02(c) is hereby amended by deleting the reference to “six” therein and replacing such reference with “ten”.

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LEGAL_US_W # 82784085.2 

 

Section 4. Amendment to Section 9.04(a).  Section 9.04(a) is hereby amended and restated in its entirety to read as follows:

(a) Restricted Payments.  The Borrower will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, return any capital to its stockholders or make any distribution of its Property to its Equity Interest holders, except (i) the Borrower may declare and pay dividends with respect to its Equity Interests payable solely in additional shares of its Equity Interests (other than Disqualified Capital Stock), (ii) Subsidiaries may declare and pay dividends ratably with respect to their Equity Interests, (iii) the Borrower may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans for management or employees of the Borrower and its Subsidiaries, (iv) the Borrower may declare and pay cumulative quarterly cash dividends to the holders of the Series A Preferred Stock in accordance with the terms of the Series A Preferred Stock in an aggregate amount in any calendar year not to exceed $12,000,000 if, both before and immediately after giving effect thereto, no Default, Event of Default or Borrowing Base Deficiency has occurred and is continuing or would result therefrom and (v) after the Eighth Amendment Effective Date, the Borrower may repurchase, redeem or otherwise acquire up to $25,000,000 of the Borrower’s issued and outstanding common stock from the holders thereof, so long as both before and immediately after giving effect to each such repurchase, redemption or other acquisition, (x) no Default or Event of Default has occurred and is continuing or would result therefrom, (y) the Borrower has Liquidity of at least $200,000,000, and (z) the aggregate amount of repurchases, redemptions or other acquisitions pursuant to this clause (v), when combined with the aggregate stated principal amount of Redemptions of Senior Debt pursuant to clause (i)(B) of Section 9.19, does not exceed $25,000,000; provided that, in no event shall the proceeds of any Loans or Letters of Credit be used for any such repurchase, redemption or other acquisition of the Borrower’s common stock pursuant to this clause (v).

Section 5. Amendment to Section 9.18(a).  Section 9.18(a) is hereby amended and restated in its entirety to read as follows:

(a) Swap Agreements in respect of commodities (i) with an Approved Counterparty and (ii) the notional volumes for which (when aggregated with other commodity Swap Agreements then in effect other than basis differential swaps on volumes already hedged pursuant to other Swap Agreements) do not exceed, as of the date such Swap Agreement is executed, 85% of Reasonably Anticipated Projected Production for the 36 months following the date such Swap Agreement is entered into, and 75% of Reasonably Anticipated Projected Production thereafter, for each of crude oil and natural gas, calculated separately; provided that the Borrower may purchase put or floor options as to which an upfront premium has been paid and which do not require further payment by the Borrower, the notional volumes for which exceed the foregoing percentage limitations (but which, when aggregated with other commodity Swap Agreements then in effect, do not exceed, as of the date such Swap Agreement is executed, 100% of Reasonably Anticipated Projected Production, and

Section 6. Amendment to Section 9.19.  Section 9.19 is hereby amended by amending and restating clause (i) thereof in its entirety to read as follows:

(i) 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 Senior Debt; provided that, (A) so long as no Default, Event of Default or Borrowing Base Deficiency shall have occurred and be continuing or would result therefrom, the Borrower may prepay Senior Debt with the net cash proceeds of any sale of Equity Interests (other than Disqualified Capital Stock) of the Borrower or with the proceeds of Senior Debt incurred pursuant to Section 9.02(i) and (B) without limitation of the foregoing clause (i)(A), after the Eighth Amendment Effective Date, the Borrower may Redeem Senior Debt in an aggregate stated principal amount of up to $25,000,000, so long as both before and immediately after giving effect to each such Redemption, (x) no Default or Event of Default has occurred and is continuing or would result therefrom, (y) the Borrower has Liquidity of at least $200,000,000 and (z) the aggregate stated principal amount of such Senior Debt Redeemed pursuant to this clause (i)(B), when combined with the aggregate amount of repurchases, redemptions or other acquisitions of the Borrower’s issued and outstanding common stock pursuant to Section 9.04(a)(v), does not exceed $25,000,000; provided that, in no event shall the proceeds of any Loans or Letters of Credit be used for any such Redemption of Senior Debt pursuant to this clause (i)(B).

Section 7. Conditions Precedent.  This Eighth Amendment shall become effective on the date on which each of the following conditions is satisfied (or waived in accordance with Section 12.02) (the “Eighth Amendment Effective Date”):

7.1 Eighth Amendment.  The Administrative Agent shall have received multiple counterparts as requested of this Eighth Amendment from the Borrower, each other Obligor and the Majority Lenders.

7.2 Title Coverage.  The Administrative Agent shall have received, together with title information previously delivered to the Administrative Agent, satisfactory title information on at least 80% of the total value of the proved Oil and Gas Properties of the Borrower and the Subsidiaries evaluated in the most recently delivered Reserve Report.

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LEGAL_US_W # 82784085.2 

 

7.3 Mortgage Coverage.  The Administrative Agent shall have received duly executed and notarized deeds of trust/mortgages or amendments and supplements to existing deeds of trust/mortgages in form satisfactory to the Administrative Agent, to the extent necessary so that the Mortgaged Properties represent at least 80% of the total value of the proved Oil and Gas Properties of the Borrower and the Subsidiaries evaluated in the most recently delivered Reserve Report.

7.4 Payment of Outstanding Invoices.  Payment by the Borrower to the Administrative Agent of all fees and other amounts due and payable on or prior to the Eighth Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all reasonable out-of-pocket expenses required to be reimbursed or paid by the Borrower (including, but not limited to the reasonable fees of Paul Hastings LLP).

7.5 No Default.  No Default or Event of Default shall be continuing as of the Eighth Amendment Effective Date.

Section 8. Representations and Warranties; Etc.  Each Obligor hereby affirms:  (a) that as of the date of execution and delivery of this Eighth Amendment, after giving effect to the terms of this Eighth Amendment, all of the representations and warranties made by it contained in each Loan Document to which it is a party are true and correct in all material respects as though made on and as of the Eighth Amendment Effective Date (unless made as of a specific earlier date, in which case, was true and correct in all material respects as of such date); and (b) that after giving effect to this Eighth Amendment and to the transactions contemplated hereby, no Default exists or will exist under any Loan Document to which it is a party.

Section 9. Miscellaneous.

9.1 Confirmation.  The provisions of the Credit Agreement (as amended by this Eighth Amendment) shall remain in full force and effect in accordance with its terms following the effectiveness of this Eighth Amendment.

9.2 Ratification and Affirmation of the Obligors.  Each Obligor hereby expressly (a) acknowledges the terms of this Eighth Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party, and agrees that each Loan Document to which it is a party remains in full force and effect, as amended hereby; and (c) agrees that from and after the Eighth Amendment Effective Date each reference to the Credit Agreement in the Guaranty and the other Loan Documents shall be deemed to be a reference to the Credit Agreement, as amended by this Eighth Amendment.

9.3 Loan Document.  This Eighth Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto. 

9.4 Severability.  Any provision of this Eighth Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

9.5 Successors and Assigns.  This Eighth Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

9.6 Counterparts. This Eighth Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Eighth Amendment by telecopy, facsimile or email transmission shall be effective as delivery of a manually executed counterpart of this Eighth Amendment.

9.7 No Oral Agreement. This written Eighth Amendment, the Credit Agreement and the other Loan Documents executed in connection herewith and therewith represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements of the parties.  There are no unwritten oral agreements between the parties.

9.8 Governing Law.  This Eighth Amendment (including, but not limited to, the validity and enforceability hereof) shall be governed by, and construed in accordance with, the laws of the State of Texas.

[Signatures Begin on Next Page]

 

 

 

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LEGAL_US_W # 82784085.2 

 

IN WITNESS WHEREOF, the parties hereto have caused this Eighth Amendment to be duly executed effective as of the Eighth Amendment Effective Date.

 

	
BORROWER:
	
 
	
REX ENERGY CORPORATION

	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/Thomas Rajan

	
 
	
 
	
Name:
	
 
	
Thomas Rajan

	
 
	
 
	
Title:
	
 
	
Chief Financial Officer

 

	
GUARANTORS:
	
 
	
REX ENERGY OPERATING CORP.

	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/Thomas Rajan

	
 
	
 
	
Name:
	
 
	
Thomas Rajan

	
 
	
 
	
Title:
	
 
	
Chief Financial Officer

 

	
REX ENERGY I, LLC

PENNTEX RESOURCES ILLINOIS, INC.

REX ENERGY IV, LLC

R.E. GAS DEVELOPMENT, LLC

	
 

	
By:
	
 
	
/s/Thomas Rajan

	
Name:
	
 
	
Thomas Rajan

	
Title:
	
 
	
Chief Financial Officer

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
ADMINISTRATIVE

AGENT, ISSUING

BANK AND LENDER:
	
 
	
ROYAL BANK OF CANADA,

as Administrative Agent

	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/Susan Khokher

	
 
	
 
	
Name:
	
 
	
Susan Khokher

	
 
	
 
	
Title:
	
 
	
Manager, Agency

 

	
ROYAL BANK OF CANADA,

as Issuing Bank and as Lender

	
 

	
By:
	
 
	
/s/Kristan Spivey

	
Name:
	
 
	
Kristan Spivey

	
Title:
	
 
	
Authorized Signatory

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
SYNDICATION AGENT

AND LENDER:
	
 
	
KEYBANK NATIONAL ASSOCIATION

	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/George E. McKean

	
 
	
 
	
Name:
	
 
	
George E. McKean

	
 
	
 
	
Title:
	
 
	
Senior Vice President

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
DOCUMENTATION AGENT

AND LENDER:
	
 
	
SUNTRUST BANK

	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/Shannon Juhan

	
 
	
 
	
Name:
	
 
	
Shannon Juhan

	
 
	
 
	
Title:
	
 
	
Director

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
LENDERS:
	
 
	
BMO HARRIS FINANCING, INC.

	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/James V. Ducote

	
 
	
 
	
Name:
	
 
	
James V. Ducote

	
 
	
 
	
Title:
	
 
	
Managing Director

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
WELLS FARGO BANK, NATIONAL ASSOCIATION

	
 

	
By:
	
 
	
 

	
Name:
	
 
	
 

	
Title:
	
 
	
 

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
MUFG UNION BANK, N.A.

	
 

	
By:
	
 
	
/s/Lara Francis

	
Name:
	
 
	
Lara Francis

	
Title:
	
 
	
Vice President

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
CAPITAL ONE, NATIONAL ASSOCIATION

	
 

	
By:
	
 
	
 

	
Name:
	
 
	
 

	
Title:
	
 
	
 

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
M&T BANK

	
 

	
By:
	
 
	
/s/Lauren A. Ferranti

	
Name:
	
 
	
Lauren A. Ferranti

	
Title:
	
 
	
Assistant Vice President

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
U.S. BANK NATIONAL ASSOCIATION

	
 

	
By:
	
 
	
/s/Monte E. Deckerd

	
Name:
	
 
	
Monte E. Deckerd

	
Title:
	
 
	
Senior Vice President

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
THE HUNTINGTON NATIONAL BANK

	
 

	
By:
	
 
	
 

	
Name:
	
 
	
 

	
Title:
	
 
	
 

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085 

 

 

	
ONEWEST BANK N.A. 

(f/k/a ONEWEST BANK N.A.)

	
 

	
By:
	
 
	
/s/Sean Murphy

	
Name:
	
 
	
Sean Murphy

	
Title:
	
 
	
Managing Director

 

Eighth Amendment

Signature Page

LEGAL_US_W # 82784085

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