Document:

EX-10.20.2

 Exhibit 10.20.2 

RATIFICATION OF LIMITED GUARANTIES 

This Ratification of Limited Guaranties is signed effective February 20, 2018, by GARY B. HUMPHREYS and
MARTIN W. ROBERTSON (collectively “Guarantors”) in connection with the renewal and extension of the Revolving Loan made by PLAINSCAPITAL BANK
(“Lender”) to LONESTAR PROSPECTS, LTD. (“Borrower”), a Texas limited partnership. The Revolving Loan is defined in and governed by the Amended and Restated Loan Agreement
dated January 12, 2018, between Borrower and Lender, as amended by the First Amendment of even date, and as hereafter amended, restated, replaced, supplemented, or otherwise modified, from time to time (collectively the “Loan
Agreement”). Capitalized terms not otherwise defined have the meanings assigned in the Loan Agreement. 
 1. Guaranties. Each of the
Guarantors is legally obligated under a Fourth Restated Limited Guaranties dated September 3, 2015, executed by each of the respective Guarantors in favor of Lender in connection with the Loans to Borrower (collectively the
“Guaranties”). 
 2. Ratification. Each of the Guarantors consents to the Loan Agreement and the renewal and extension of the
Revolving Loan and ratifies and confirms their respective Guaranty, acknowledges that their Guaranty is valid, subsisting, and binding upon the respective Guarantors, and agrees that their Guaranty guarantees payment of the Loans (including the
Revolving Loan), and the Notes (including the Revolving Note). 
 3. Notice of Final Agreement. As of the effective date of this Notice, Borrower,
Guarantors, and Lender have consummated a transaction pursuant to which Lender has agreed to make a loan or loans to Borrower, to renew and extend an existing loan or loans to Borrower, and to otherwise extend credit or make financial accommodations
to or for the benefit of Borrower, in an aggregate amount up to $40,000,000.00 (collectively, whether one or more, the “Loans”). 

In connection with the Loans, Borrower and Lender and the undersigned Guarantors have executed and delivered and may hereafter execute and
deliver certain agreements, instruments, and documents (collectively hereinafter referred to as the “Written Loan Agreement”). 

It is the intention of Borrower, Lender, and Guarantors that this Notice be incorporated by reference into each of the written agreements,
instruments, and documents comprising the Written Loan Agreement. Borrower, Lender, and Guarantors each warrant and represent that the entire agreement made and existing by or among Borrower, Lender, and Guarantors with respect to the Loan is
and shall be contained within the Written Loan Agreement, as amended and supplemented hereby, and that no agreements or promises exist or shall exist by or among Borrower, Lender, and Guarantors that are not reflected in the Written Loan Agreement.

 THE WRITTEN LOAN AGREEMENT REPRESENTS 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 AGREEMENTS BETWEEN THE PARTIES. 

 

	
	Effective as of the date stated above.
	
	ACKNOWLEDGED AND AGREED:
	
	 /s/ Gary B. Humphreys

	GARY B. HUMPHREYS
	
	 /s/ Martin W. Robertson

	MARTIN W. ROBERTSON

  

  
 Ratification of
Limited Guaranties - Page 2EX-10.20.3

 Exhibit 10.20.3 

RATIFICATION OF UNLIMITED GUARANTIES 

This Ratification of Unlimited Guaranties is signed effective February 20, 2018, by the undersigned guarantors (collectively
“Guarantors”) in connection with the renewal and extension of the Revolving Loan made by PLAINSCAPITAL BANK (“Lender”) to LONESTAR PROSPECTS,
LTD. (“Borrower”), a Texas limited partnership. The Revolving Loan is defined in and governed by the Amended and Restated Loan Agreement dated January 12, 2018, between Borrower and Lender, as amended by the
First Amendment of even date, and as hereafter amended, restated, replaced, supplemented, or otherwise modified, from time to time (collectively the “Loan Agreement”). Capitalized terms not otherwise defined have the meanings
assigned in the Loan Agreement. 
 1. Guaranties. Each of the Guarantors is legally obligated under an unlimited guaranty dated
January 13, 2014, or September 3, 2015, executed by each of the respective Guarantors in favor of Lender in connection with the Loans to Borrower (collectively the “Guaranties”). 

2. Ratification. Each of the Guarantors consents to the Loan Agreement and the renewal and extension of the Revolving Loan and ratifies and
confirms their respective Guaranty, acknowledges that their Guaranty is valid, subsisting, and binding upon the respective Guarantors, and agrees that their Guaranty guarantees payment of the Loans (including the Revolving Loan), and the Notes
(including the Revolving Note). 
 3. Notice of Final Agreement. As of the effective date of this Notice, Borrower, Guarantors, and Lender
have consummated a transaction pursuant to which Lender has agreed to make a loan or loans to Borrower, to renew and extend an existing loan or loans to Borrower, and to otherwise extend credit or make financial accommodations to or for the benefit
of Borrower, in an aggregate amount up to $40,000,000.00 (collectively, whether one or more, the “Loans”). 
 In connection
with the Loans, Borrower and Lender and the undersigned Guarantors have executed and delivered and may hereafter execute and deliver certain agreements, instruments, and documents (collectively hereinafter referred to as the “Written Loan
Agreement”). 
 It is the intention of Borrower, Lender, and Guarantors that this Notice be incorporated by reference into each of
the written agreements, instruments, and documents comprising the Written Loan Agreement. Borrower, Lender, and Guarantors each warrant and represent that the entire agreement made and existing by or among Borrower, Lender, and Guarantors with
respect to the Loan is and shall be contained within the Written Loan Agreement, as amended and supplemented hereby, and that no agreements or promises exist or shall exist by or among Borrower, Lender, and Guarantors that are not reflected in the
Written Loan Agreement. 

 THE WRITTEN LOAN AGREEMENT REPRESENTS 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 AGREEMENTS BETWEEN THE PARTIES. 

Effective as of the date stated above. 
 ACKNOWLEDGED AND
AGREED: 
 LONESTAR PROSPECTS HOLDING COMPANY, L.L.C. 

 

			
		
	By:	 	 /s/ Gary B. Humphreys

		 	Gary B. Humphreys, Manager

 LONESTAR PROSPECTS
MANAGEMENT, L.L.C., 
 a Texas limited liability company 
  

			
		
	By:	 	VPROP Operating, LLC,
		 	 a Delaware limited liability company,
 its
sole member

  

					
		
	By:	 	Vista Proppants and Logistics, LLC,
		 	 a Delaware limited liability company,

its sole member

			
		 	By:	 	 /s/ Gary B. Humphreys

		 		 	Gary B. Humphreys
		 		 	Chief Executive Officer

  
 Ratification of
Unlimited Guaranties - Page 2 

			
		 	 /s/ Gary Blaine Humphreys

		 	Gary Blaine Humphreys, as co-trustee of the
		 	ERIC BLAINE HUMPHREYS TRUST created under
		 	Trust Agreement dated December 14, 2012
		
		 	 /s/ Claudia Ann Humphreys

		 	Claudia Ann Humphreys, as co-trustee of the
		 	ERIC BLAINE HUMPHREYS TRUST created under
		 	Trust Agreement dated December 14, 2012
		
		 	 /s/ Gary Blaine Humphreys

		 	Gary Blaine Humphreys, as co-trustee of the
		 	JAKE ALLEN HUMPHREYS TRUST created under
		 	Trust Agreement dated December 14, 2012
		
		 	 /s/ Claudia Ann Humphreys

		 	Claudia Ann Humphreys, as co-trustee of the
		 	JAKE ALLEN HUMPHREYS TRUST created under
		 	Trust Agreement dated December 14, 2012
	
	 FUTURE NEW DEAL, LTD.,
 a Texas
limited partnership

		
	By:	 	Future New Deal II, LLC,
		 	Its general partner
		
	By:	 	 /s/ Gary B. Humphreys

		 	Gary B. Humphreys, Manager
	
	FUTURE NEW DEAL II, LLC,
		
	By:	 	 /s/ Gary B. Humphreys

		 	Gary B. Humphreys, Manager

  
 Ratification of
Unlimited Guaranties - Page 3 

			
		 	 /s/ Martin W. Robertson

		 	 Martin W. Robertson, as co-trustee of
 the
CHRISTOPHER MARTIN ROBERTSON TRUST

created under Trust Agreement dated December 18, 2012

		
		 	 /s/ Janet Lynn Robertson

		 	 Janet Lynn Robertson, as co-trustee of
 the
CHRISTOPHER MARTIN ROBERTSON TRUST
 created under Trust Agreement dated December 18,
2012

		
		 	 /s/ Martin W. Robertson

		 	 Martin W. Robertson, as co-trustee of
 the
CLAIRE ANN ROBERTSON TRUST
 created under Trust Agreement dated December 18,
2012

		
		 	 /s/ Janet Lynn Robertson

		 	 Janet Lynn Robertson, as co-trustee of
 the
CLAIRE ANN ROBERTSON TRUST
 created under Trust Agreement dated December 18,
2012

	
	 M & J PARTNERSHIP, LTD.,

a Texas limited partnership

	By:	 	T.Y.F. Holdings, LLC,
		 	Its general partner
		
	By:	 	 /s/ Martin W. Robertson

		 	Martin W. Robertson, Manager
	
	T.Y.F. HOLDINGS, LLC,
		
	By:	 	 /s/ Martin W. Robertson

		 	Martin W. Robertson, Manager

  
 Ratification of
Unlimited Guaranties - Page 4EX-10.20.4

 Exhibit 10.20.4 
  

 
 February 20, 2018 

LONESTAR PROSPECTS, LTD. 

Attention: Gary B. Humphreys 
 4413 Carey Street 

Fort Worth, Texas 76119 
  

	 	Re:	First Amendment to Amended and Restated to Loan Agreement 

 Ladies and Gentlemen: 

This letter (this “Amendment”) amends the Amended and Restated Loan Agreement dated January 12, 2018, among
LONESTAR PROSPECTS, LTD. (“Borrower”), a Texas limited partnership; LONESTAR PROSPECTS HOLDING COMPANY, L.L.C.
(“Lonestar Holding”), a Texas limited liability company, GARY B. HUMPHREYS (“Humphreys”) and MARTIN W. ROBERTSON (“Robertson” and
collectively with Lonestar Holding and Humphreys, collectively “Guarantors”); and PLAINSCAPITAL BANK (“Lender”), as now or hereafter amended, restated, replaced,
supplemented, or otherwise modified from time to time (collectively the “Loan Agreement”). Capitalized terms below have the meanings assigned in the Loan Agreement. 

1. Revolving Loan. Borrower has requested that Lender renew and extend the Revolving Loan, and Lender has agreed to do so on the terms
set forth in this Amendment. Subsection (a) of Section 1 of the Loan Agreement is amended and restated in its entirety to read as follows: 

“(a) Subject to the terms and conditions set forth in the Loan Agreement and the other agreements, instruments, and
documents executed and delivered in connection with the Loan Agreement (collectively the “Loan Documents”), Lender agrees to make a revolving loan in the maximum principal amount of $40,000,000.00 to Borrower (the “Revolving
Loan”) on the terms set forth in the Second Amended and Restated Revolving Promissory Note attached as Exhibit A to this Amendment (the “Revolving Note”), for the purposes set forth in the Loan Agreement. Subject to
the terms and conditions of the Loan Agreement, Borrower may borrow, repay, and reborrow on a revolving basis from time to time during the period commencing on the date hereof and continuing through 11:00 a.m. (Fort Worth, Texas time) on
April 14, 2019 (the 

 
LONESTAR PROSPECTS, LTD. 
 February 20, 2018 

Page 2 of 7 
 “Termination
Date”), such amounts as Borrower may request under the Revolving Loan; provided, however, the total principal amount outstanding at any time shall not exceed the lesser of (i) the aggregate sums permitted under the Borrowing Base, or
(ii) $40,000,000.00. Advances on the Revolving Loan may be used only for working capital purposes. The unpaid principal balance of the Revolving Note shall bear interest from the date advanced until paid or until Event of Default or the Termination
Date at a fluctuating rate per annum equal to the sum of the Prime Rate (as defined in the Revolving Note), plus one-half percent (0.5%); provided, however, that the interest rate under the Revolving Note
shall never fall below a floor rate of five percent (5.0%) per annum. All sums advanced under the Revolving Loan, together with all accrued but unpaid interest thereon, shall be due and payable in full on the Termination Date. Notwithstanding any
provision of the Loan Agreement or the Revolving Note to the contrary, additional advances on the Revolving Loan will only be permitted to the extent allowed by Section 9.03(f) of the Term Credit Agreement (as defined below).” 

2. Borrowing Base. (a) The definition of “Borrowing Base” in Subsection (i) of Section 3 of the Loan
Agreement is hereby amended and restated in its entirety to read as follows: 
 “(i) “Borrowing Base”
means an amount equal to Eighty Percent (80%) of the Borrower’s Eligible Accounts, plus Fifty Percent (50 %) of the Borrower’s Eligible Inventory; provided, however, that the outstanding amount advanced against Eligible Inventory at any
time shall not exceed the lesser of (x) $12,500,000.00, or (y) Eighty Percent (80%) of Borrower’s Eligible Accounts.” 
 (b)
Subsection (ii) of Section 3 of the Loan Agreement is hereby amended and restated in its entirety to read as follows: 

“(ii) “Eligible Accounts” means at any time, an amount equal to the aggregate net invoice or ledger
amount owing on all trade accounts receivable of Borrower for sand sold in the ordinary course of business, in which Lender has a perfected, first-priority security interest, after deducting (without duplication): (1) each account that is unpaid one
hundred twenty (120) days or more after the original invoice date; (2) the amount of all discounts, allowances, rebates, credits, and adjustments to such accounts; (3) the amount of all contra accounts, setoffs, defenses, or
counterclaims asserted by or available to the account debtors; (4) all accounts with respect to which goods are placed on consignment or subject to a guaranteed sale or other terms under which payment by the account debtor may be conditional;
(5) the amount billed for or representing retainage, if any, until all prerequisites to the immediate payment of retainage have been satisfied; (6) all accounts owing by account debtors for which there has been instituted a proceeding
under any Debtor Relief Laws; (7) all accounts owing by any officer, employee, agent, or affiliate of Borrower; (8) all accounts due Borrower by any account debtor whose domicile, residence, or principal place of business is located
outside the United States of America, excluding, however, multi-national companies with a United States headquartered affiliate; (9) accounts with respect to which the account 

 
LONESTAR PROSPECTS, LTD. 
 February 20, 2018 

Page 3 of 7 
 debtor is the United States or any
department, agency, or instrumentality of the United States, any state of the United States, or any city, town, municipality, or division thereof, except to the extent an acknowledgment of assignment to Lender of such account in compliance with the
Federal Assignment of Claims Act and other applicable law has been received by Lender; (10) all accounts subject to any provision prohibiting assignment or requiring notice of or consent to such assignment; (11) that portion of all account
balances owing by any single account debtor which exceeds twenty-five percent (25%) of the aggregate of all accounts otherwise deemed eligible hereunder which are owing to Borrower by all account debtors, unless Borrower provides evidence
satisfactory to Lender of credit insurance coverage acceptable to Lender on the accounts receivable from any such account debtor, from a financially sound and reputable insurance company; provided, however, that (I) only that portion of all
account balances owing by Halliburton Energy Services or EOG Resources, Inc., which exceeds the lesser of (A) forty percent (40%) of the aggregate of all accounts otherwise deemed eligible hereunder which are owing to Borrower by all account
debtors, or (B) the applicable amount of credit insurance acceptable to Lender with respect to such accounts, shall be excluded from Eligible Accounts; (II) only that portion of all account balances owing by Apache Corporation, which
exceeds the lesser of (A) thirty percent (30%) of the aggregate of all accounts otherwise deemed eligible hereunder which are owing to Borrower by all account debtors, or (B) the applicable amount of credit insurance acceptable to Lender
with respect to such accounts, shall be excluded from Eligible Accounts; (12) all accounts due from an account debtor when ten percent (10%) or more of the total amount due to Borrower from that debtor is ineligible under one or more of these
subsections of this definition; and (13) any other accounts deemed unacceptable by Lender in its reasonable discretion.” 
 (c)
Subparagraph (3) of Subsection (a) of Section 8 of the Loan Agreement is hereby amended and restated in its entirety to read as follows: 

“(3) Within forty-five (45) days after the end of each month if there is any outstanding balance on the Revolving
Note, a Borrowing Base Certificate in the form of Exhibit C attached to this Amendment, signed by an authorized officer of Borrower, along with an accounts receivable listing and aging and an inventory report;” 

3. Conditions Precedent. The obligation of Lender to enter into this Amendment and renew and extend the Revolving Loan is subject to
Borrower’s satisfaction, in Lender’s sole discretion, of the following conditions precedent: 
 (a) Borrower shall be in
compliance in all material respects with the conditions set forth in Subparagraphs (3), (4), and (5) of Subsection (a) of Section 4 of the Loan Agreement as of the date of this Amendment, and all representations and warranties set
forth in Section 5 of the Loan Agreement must be true in all material respects as of the date of this Amendment (after giving effect to the waivers, consents, and amendments set forth herein). After giving effect to the waivers, consents, and
amendments set forth in this Amendment, 

 
LONESTAR PROSPECTS, LTD. 
 February 20, 2018 

Page 4 of 7 
 Borrower shall be in compliance in all material
respects with all existing obligations under the Loan Agreement and there shall be no Event of Default under the Loan Agreement at closing. 

(b) the negotiation, execution, and delivery of Loan Documents in Proper Form, including, but not limited to, the following: 

 

	 	(i)	this Amendment; 

  

	 	(ii)	the Revolving Note; and 

  

	 	(iii)	Ratifications of the existing Guaranties. 

 (c) a Material Adverse Change shall not have
occurred. 
 4. Confirmations. (a) As security for the Notes, Borrower previously executed the Security Documents. Borrower
ratifies and confirms the Security Documents, acknowledges that they are valid, subsisting, and binding, and agrees that the Security Documents secure payment of the Notes (including the Revolving Note), the Loans (including the Revolving Loan), and
all other Secured Obligations. 
 (b) In connection with the Notes, Guarantors executed the Guaranties. Guarantors ratify and confirm the
Guaranties, acknowledge that the Guaranties are valid, subsisting, and binding upon Guarantors, and agree that the Guaranties guarantee payment of the Notes (including the Revolving Note), the Loans (including the Revolving Loan), and all other
Secured Obligations. 
 (c) Borrower hereby represents to Lender that all representations and warranties of Borrower set forth in
Section 5 of the Loan Agreement are true and correct in all material respects as of the date of execution of this Amendment (after giving effect to the waivers, consents, and amendments set forth herein); and that Borrower is in compliance in
all material respects as of the date of execution of this Amendment with all covenants set forth in Section 6 of the Loan Agreement, all financial covenants set forth in Section 7 of the Loan Agreement, and all reporting requirements set
forth in Section 8 of the Loan Agreement (after giving effect to the waivers, consents, and amendments set forth herein). 
 5.
Validity and Defaults. The Loan Agreement, as amended, remains in full force and effect. Borrower and Guarantors acknowledge that the Loan Agreement, the Notes, the Security Documents, the Guaranties, and the other Loan Documents are valid,
subsisting, and binding upon Borrower and Guarantors; no uncured breaches or defaults exist under the Loan Agreement, as amended by this Amendment; and no event has occurred or circumstance exists which, with the passing of time or giving of notice,
will constitute a default or breach under the Loan Agreement, as amended. Borrower and Guarantors ratify the Loan Agreement, as amended. 

6. Counterparts. This Amendment and the related Loan Documents may be executed in counterparts, and Lender is authorized to attach the
signature pages from the counterparts to copies for Lender and Borrower and filing counterparts. At Lender’s option, this 

 
LONESTAR PROSPECTS, LTD. 
 February 20, 2018 

Page 5 of 7 
 Amendment and the related Loan Documents may also
be executed by Borrower and Guarantors in remote locations with signature pages faxed or scanned and e-mailed to Lender. Borrower and Guarantors agree that the faxed and scanned signatures are binding upon
Borrower and Guarantors, and Borrower and Guarantors further agree to promptly deliver the original signatures for this Amendment and the related Loan Documents by overnight mail or expedited delivery. It will be an Event of Default if Borrower or
Guarantors fail to promptly deliver all required original signatures. 
 7. Captions. Captions are for convenience only and should
not be used in interpreting this Amendment. 
 8. Final Agreement. (a) In connection with the Loans, Borrower, Guarantors, and
Lender have executed and delivered this Amendment, the Loan Agreement, and the Loan Documents (collectively the “Written Loan Agreement”). 

(b) It is the intention of Borrower, Guarantors, and Lender that this paragraph be incorporated by reference into each of the Loan Documents.
Borrower, Guarantors, and Lender each warrant and represent that their entire agreement with respect to the Loans is contained within the Written Loan Agreement, and that no agreements or promises have been made by, or exist by or among, Borrower,
Guarantors, and Lender that are not reflected in the Written Loan Agreement. 
 (c) THE LOAN AGREEMENT, AS AMENDED, REPRESENTS 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 AGREEMENTS BETWEEN THE PARTIES. 

If the foregoing correctly sets forth your understanding of our agreement, please sign and return one copy of this Amendment. 

 

			
	 Yours very truly,
  

PLAINSCAPITAL BANK

		
	By:	 	 /s/ Keeton Moore

		 	 Keeton Moore,
 Senior Vice
President

 LONESTAR PROSPECTS, LTD. 

February 20, 2018 
 Page 6 of 7 

Accepted and agreed to 
 this
         day of February, 2018: 
 BORROWER: 

 

			
	LONESTAR PROSPECTS, LTD.,
a Texas limited partnership
		
	By:	 	Lonestar Prospects Management, L.L.C.,
a Texas limited liability company,
its general partner
		
	By:	 	VPROP Operating, LLC,
a Delaware limited liability company,
its sole member
		
	By:	 	Vista Proppants and Logistics, LLC,
a Delaware limited liability company,
its sole member

  

					
		 	By:	 	 /s/ Gary B. Humphreys

		 		 	Gary B. Humphreys,
		 		 	Chief Executive Officer

 LONESTAR PROSPECTS, LTD. 

February 20, 2018 
 Page 7 of 7 

GUARANTORS: 
  

			
	LONESTAR PROSPECTS MANAGEMENT, L.L.C.,
a Texas limited liability company
		
	By:	 	VPROP Operating, LLC,
		 	a Delaware limited liability company,
		 	its sole member
		
	By:	 	Vista Proppants and Logistics, LLC,
		 	a Delaware limited liability company,
		 	its sole member

  

					
		 	By:	 	 /s/ Gary B. Humphreys

		 		 	Gary B. Humphreys,
		 		 	Chief Executive Officer

  

			
		 	 /s/ Gary B. Humphreys

		 	GARY B. HUMPHREYS

  

			
		 	 /s/ Martin W. Robertson

		 	MARTIN W. ROBERTSON

 Exhibits and Schedules: 

Exhibit A - Revolving Note 
 Exhibit C - Borrowing Base
Certificate

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