Document:

EX-10.3

 EXHIBIT 10.3 

 
  

 
 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 
 dated as of 

March 3, 2017 
 among 

GASTAR EXPLORATION INC., 
 as
Borrower 
 The Guarantors from time to time Party Hereto, 

The Lenders Party Hereto, 
 and

 WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Administrative Agent 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	 Article I. Definitions
	  	 	2	 
			
	 Section 1.01
	 	 Defined Terms
	  	 	2	 
	 Section 1.02
	 	 Terms Generally
	  	 	25	 
		
	 Article II. The Credits
	  	 	26	 
			
	 Section 2.01
	 	 Accounting Terms; GAAP
	  	 	26	 
	 Section 2.02
	 	 Loans and Commitments
	  	 	26	 
	 Section 2.03
	 	 Request for Loans
	  	 	27	 
	 Section 2.04
	 	 Funding of Loans
	  	 	27	 
	 Section 2.05
	 	 Repayment of Loans; Evidence of Debt
	  	 	27	 
	 Section 2.06
	 	 Optional Prepayment of Loans
	  	 	28	 
	 Section 2.07
	 	 Mandatory Prepayment of Loans
	  	 	28	 
	 Section 2.08
	 	 Offer of Prepayment Upon any Change of Control
	  	 	29	 
	 Section 2.09
	 	 Payment of Applicable Premium
	  	 	30	 
	 Section 2.10
	 	 Interest and Fees
	  	 	30	 
	 Section 2.11
	 	 Increased Costs
	  	 	31	 
	 Section 2.12
	 	 Taxes
	  	 	32	 
	 Section 2.13
	 	 Payments Generally; Pro Rata Treatment; Sharing of
Set-offs
	  	 	35	 
		
	 Article III. Representations and Warranties
	  	 	36	 
			
	 Section 3.01
	 	 Organization; Powers
	  	 	36	 
	 Section 3.02
	 	 Authorization; Enforceability
	  	 	36	 
	 Section 3.03
	 	 Governmental Approvals; No Conflicts
	  	 	36	 
	 Section 3.04
	 	 Financial Condition; No Material Adverse Change
	  	 	37	 
	 Section 3.05
	 	 Properties
	  	 	37	 
	 Section 3.06
	 	 Litigation and Environmental Matters
	  	 	39	 
	 Section 3.07
	 	 Compliance with Laws and Agreements
	  	 	39	 
	 Section 3.08
	 	 Investment Company Status
	  	 	39	 
	 Section 3.09
	 	 Taxes
	  	 	39	 
	 Section 3.10
	 	 ERISA
	  	 	39	 
	 Section 3.11
	 	 Disclosure
	  	 	39	 
	 Section 3.12
	 	 Labor Matters
	  	 	40	 
	 Section 3.13
	 	 Capitalization
	  	 	40	 
	 Section 3.14
	 	 Margin Stock
	  	 	40	 
	 Section 3.15
	 	 Bank Accounts
	  	 	40	 
	 Section 3.16
	 	 Insurance
	  	 	40	 

  
 i 

							
	 Section 3.17
	 	 Material Contracts
	  	 	40	 
	 Section 3.18
	 	 Gas Imbalances
	  	 	40	 
	 Section 3.19
	 	 Reserve Reports
	  	 	41	 
	 Section 3.20
	 	 Sale of Production
	  	 	41	 
	 Section 3.21
	 	 Anti-Corruption Laws and Sanctions
	  	 	41	 
	 Section 3.22
	 	 No Foreign Operations
	  	 	41	 
	 Section 3.23
	 	 Solvency
	  	 	41	 
		
	 Article IV. Conditions
	  	 	42	 
			
	 Section 4.01
	 	 Effective Date
	  	 	42	 
		
	 Article V. Affirmative Covenants
	  	 	45	 
			
	 Section 5.01
	 	 Financial Statements; Other Information
	  	 	45	 
	 Section 5.02
	 	 Notices of Material Events
	  	 	47	 
	 Section 5.03
	 	 Existence; Conduct of Business
	  	 	47	 
	 Section 5.04
	 	 Payment of Obligations
	  	 	47	 
	 Section 5.05
	 	 Maintenance of Properties; Insurance
	  	 	48	 
	 Section 5.06
	 	 Books and Records; Inspection Rights
	  	 	48	 
	 Section 5.07
	 	 Compliance with Laws
	  	 	48	 
	 Section 5.08
	 	 Environmental Matters
	  	 	48	 
	 Section 5.09
	 	 Use of Proceeds
	  	 	48	 
	 Section 5.10
	 	 Collateral Matters
	  	 	49	 
	 Section 5.11
	 	 Title Data
	  	 	50	 
	 Section 5.12
	 	 Swap Agreements
	  	 	51	 
	 Section 5.13
	 	 Operation of Oil and Gas Property
	  	 	51	 
	 Section 5.14
	 	 Subsidiaries
	  	 	51	 
	 Section 5.15
	 	 Pledged Capital Stock
	  	 	51	 
	 Section 5.16
	 	 Accounts
	  	 	52	 
	 Section 5.17
	 	 Further Assurances
	  	 	52	 
	 Section 5.18
	 	 Redemption of Existing Notes
	  	 	52	 
	 Section 5.19
	 	 Post-Closing Matters
	  	 	52	 
		
	 Article VI. Negative Covenants
	  	 	53	 
			
	 Section 6.01
	 	 [Reserved]
	  	 	53	 
	 Section 6.02
	 	 Indebtedness
	  	 	53	 
	 Section 6.03
	 	 Liens
	  	 	54	 
	 Section 6.04
	 	 Fundamental Changes
	  	 	55	 
	 Section 6.05
	 	 Disposition of Assets
	  	 	55	 
	 Section 6.06
	 	 Nature of Business
	  	 	57	 
	 Section 6.07
	 	 Investments
	  	 	57	 
	 Section 6.08
	 	 Swap Agreements
	  	 	58	 
	 Section 6.09
	 	 Restricted Payments
	  	 	58	 
	 Section 6.10
	 	 Transactions with Affiliates
	  	 	59	 
	 Section 6.11
	 	 Restrictive Agreements
	  	 	59	 
	 Section 6.12
	 	 Disqualified Stock
	  	 	60	 

  
 ii 

							
	 Section 6.13
	 	 Certain Amendments to Organizational Documents and Convertible Notes
	  	 	60	 
	 Section 6.14
	 	 Sale and Leaseback Transactions and other Off-Balance
Sheet Liabilities
	  	 	60	 
	 Section 6.15
	 	 DrillCo Restrictions
	  	 	60	 
	 Section 6.16
	 	 Lease Restrictions
	  	 	60	 
		
	 Article VII. Guarantee of Obligations
	  	 	61	 
			
	 Section 7.01
	 	 Guarantee of Payment
	  	 	61	 
	 Section 7.02
	 	 Guarantee Absolute
	  	 	61	 
	 Section 7.03
	 	 Guarantee Irrevocable
	  	 	61	 
	 Section 7.04
	 	 Reinstatement
	  	 	61	 
	 Section 7.05
	 	 Subrogation
	  	 	62	 
	 Section 7.06
	 	 Subordination
	  	 	62	 
	 Section 7.07
	 	 Payments Generally
	  	 	62	 
	 Section 7.08
	 	 Setoff
	  	 	62	 
	 Section 7.09
	 	 Formalities
	  	 	63	 
	 Section 7.10
	 	 Limitations on Guarantee
	  	 	63	 
	 Section 7.11
	 	 Keepwell
	  	 	63	 
	 Section 7.12
	 	 Survival
	  	 	63	 
		
	 Article VIII. Events of Default
	  	 	63	 
		
	 Article IX. The Administrative Agent
	  	 	67	 
			
	 Section 9.01
	 	 Appointment and Authority
	  	 	67	 
	 Section 9.02
	 	 Rights as a Lender
	  	 	67	 
	 Section 9.03
	 	 Exculpatory Provisions
	  	 	67	 
	 Section 9.04
	 	 Reliance by Administrative Agent
	  	 	69	 
	 Section 9.05
	 	 Delegation of Duties
	  	 	69	 
	 Section 9.06
	 	 Collateral and Guaranty Matters
	  	 	69	 
	 Section 9.07
	 	 Resignation and Removal of Administrative Agent
	  	 	70	 
	 Section 9.08
	 	 Non-Reliance on Administrative Agent and Other
Lenders
	  	 	71	 
	 Section 9.09
	 	 Administrative Agent May File Proofs of Claim
	  	 	71	 
		
	 Article X. Miscellaneous
	  	 	73	 
			
	 Section 10.01
	 	 Notices
	  	 	73	 
	 Section 10.02
	 	 Waivers; Amendments
	  	 	74	 
	 Section 10.03
	 	 Expenses; Indemnity; Damage Waiver
	  	 	76	 
	 Section 10.04
	 	 Successors and Assigns
	  	 	77	 
	 Section 10.05
	 	 Survival
	  	 	80	 
	 Section 10.06
	 	 Counterparts; Integration; Effectiveness; Electronic Execution
	  	 	81	 
	 Section 10.07
	 	 Severability
	  	 	81	 
	 Section 10.08
	 	 Right of Setoff
	  	 	81	 
	 Section 10.09
	 	 GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS
	  	 	82	 

  
 iii 

							
	 Section 10.10
	 	 WAIVER OF JURY TRIAL
	  	 	82	 
	 Section 10.11
	 	 Headings
	  	 	82	 
	 Section 10.12
	 	 Confidentiality
	  	 	83	 
	 Section 10.13
	 	 Material Non-Public Information
	  	 	83	 
	 Section 10.14
	 	 Authorization to Distribute Certain Materials to Public-Siders
	  	 	83	 
	 Section 10.15
	 	 Interest Rate Limitation
	  	 	84	 
	 Section 10.16
	 	 USA PATRIOT Act
	  	 	84	 
	 Section 10.17
	 	 Release of Guarantees and Liens
	  	 	84	 
	 Section 10.18
	 	 Amendment and Restatement
	  	 	85	 
	 Section 10.19
	 	 Swap Intercreditor Agreement
	  	 	85	 
	 Section 10.20
	 	 INTERCREDITOR AGREEMENTS
	  	 	85	 
	 Section 10.21
	 	 Master Assignment
	  	 	86	 
	 Section 10.22
	 	 Limited Third Party Beneficiaries
	  	 	86	 

  
 iv 

 EXHIBITS: 

Exhibit A – Form of Assignment and Assumption 
 Exhibit B
– Form of Borrowing Request 
 Exhibit C – Form of Counterpart Agreement 

Exhibit D – Form of Intercreditor Agreement 
 Exhibit E
– Form of Mortgage 
 Exhibit F – Form of Security Agreement 

Exhibit G – Form of Note 
 Exhibits H-1 through H-4 – Form of Tax Certificates 
 SCHEDULES: 

Schedule I – Existing Loans 
 Schedule 1.01(a) –
Mortgaged Properties 
 Schedule 1.01(b) – Drillco Excluded Property 

Schedule 1.01(c) – Subject Leases 
 Schedule 2.01 –
Commitments 
 Schedule 3.04 – Material Liabilities 

Schedule 3.06 – Disclosed Matters 
 Schedule 3.13 –
Capitalization 
 Schedule 3.15 – Bank Accounts 
 Schedule
3.17– Material Contracts 
 Schedule 3.18 – Gas Imbalances 

Schedule 3.19 – Changes to Reserves 
 Schedule 3.20 –
Marketing Agreements 
 Schedule 6.02 – Existing Indebtedness 

Schedule 6.03 – Existing Liens 
 Schedule 6.07(c) –
Investment Commitments 
 Schedule 6.07(g) – Existing Investments 

  
 v 

 THIRD AMENDED AND RESTATED CREDIT AGREEMENT 

This THIRD AMENDED AND RESTATED CREDIT AGREEMENT, dated as of March 3, 2017, is among GASTAR EXPLORATION INC., a Delaware corporation, as
Borrower, CERTAIN SUBSIDIARIES OF BORROWER, as Guarantors, the LENDERS party hereto, and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Administrative Agent. 

RECITALS 
 WHEREAS, the
Borrower, Wells Fargo Bank National Association, as administrative agent and collateral agent (the “Existing Administrative Agent”) and issuing lender and each of the financial institutions party thereto as lenders (the
“Existing Lenders”) are party to that certain Second Amended and Restated Credit Agreement dated as of June 13, 2013 (as amended, amended and restated, or otherwise modified from time to time, the “Existing Credit
Agreement”), pursuant to which the Existing Lenders provided certain loans and extensions of credit to the Borrower; 
 WHEREAS,
pursuant to that certain Master Reaffirmation and Assignment and Assumption of Liens and Security Interests (the “Master Assignment”) of even date herewith, the Existing Administrative Agent and the Existing Lenders have assigned to
Administrative Agent, Collateral Agent and the Lenders all of their respective right, title and interest in and to the Existing Credit Agreement, and the deeds of trust, mortgages, security agreements and other instruments executed or delivered
pursuant thereto; 
 WHEREAS, Borrower, Administrative Agent and the Lenders are willing to amend and restate the Existing Credit Agreement
in order to provide for certain amendments thereto and to provide for the making of term loans, all on the terms set forth in this Agreement, which making of term loans and amendment and restatement in the form of this Agreement shall be subject to
the satisfaction of certain conditions precedent set forth in this Agreement and the occurrence of the Effective Date; 
 WHEREAS, it is the
intent of the parties hereto that this Agreement not constitute a novation of the obligations and liabilities existing under the Existing Credit Agreement or evidence payment of all or any of such obligations and liabilities; that this Agreement
amend and restate in its entirety the Existing Credit Agreement and renew and extend the extensions of credit under the Existing Credit Agreement, as so amended and restated; and that from and after the Effective Date the Existing Credit Agreement
be of no further force or effect except as to evidence the incurrence of the obligations of Borrower and its Subsidiaries thereunder; and 

WHEREAS, the Borrower has entered into that certain Securities Purchase Agreement (the “Securities Purchase Agreement”),
dated as of February 16, 2017, by and among the Borrower and each of the purchasers party thereto, pursuant to which the Borrower agreed concurrently with the borrowings hereunder to issue and sell additional common stock and its Senior Secured
Second Lien Convertible Notes due 2022. 

  
 Page 1 

 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein,
the parties hereto hereby amend and completely restate the Existing Credit Agreement, effective as of the Effective Date as defined below, and do hereby agree as follows: 

ARTICLE I. 

DEFINITIONS 

Section 1.01    Defined Terms. As used in this Agreement, the following terms have the meanings
specified below: 
 “Acceptable Security Interest” means, with respect to any Property, a Lien which (a) exists in
favor of the Administrative Agent for the benefit of the Secured Parties, (b) is superior to all Liens or rights of any other Person in the Property encumbered thereby (other than Permitted Liens), (c) secures the Obligations, and (d) is
perfected and enforceable. Any requirement that the Credit Parties provide an Acceptable Security Interest with respect to any DrillCo PDP Reserves shall be satisfied if the applicable Credit Party grants a Wellbore Lien with respect to such DrillCo
PDP Reserves and the Oil and Gas Properties owned by any Credit Party attributable thereto, so long as the Wellbore Lien meets the foregoing criteria. 

“Accepting Lenders” has the meaning assigned to such term in Section 2.08(b). 

“Acquisition” means, the acquisition by the Borrower or any Subsidiary, whether by purchase, merger (and, in the case of a
merger with any such Person, with such Person being the surviving corporation) or otherwise, of all or substantially all of the Capital Stock of, or all or substantially all of the business, property or fixed assets of or business line or unit or a
division of, any other Person engaged solely in the business of producing oil or natural gas or the acquisition by the Borrower or any Subsidiary of Property consisting of Oil and Gas Property. 

“Additional Assets” means (a) Oil and Gas Properties prospective for the SCOOP and/or the STACK play, (b) the
Capital Stock of a Person that becomes a Subsidiary as a result of the acquisition of such Capital Stock by the Borrower or another Subsidiary, (c) Capital Stock constituting a minority interest in any Person that at such time is a Subsidiary
of the Company, and (d) other long-term assets that are used or useful in the Oil and Gas Business and related to Additional Assets; provided, however, that, in respect of (b) and (c) above, (i) the assets of the Subsidiary whose
Capital Stock has been acquired consist primarily of Oil and Gas Properties prospective for the SCOOP and/or the STACK play (ii) the Borrower and/or the applicable Subsidiary has complied with Section 5.15 in connection with such
acquisition. 
 “Administrative Agent” means Wilmington Trust, National Association, in its capacity as Administrative
Agent under any of the Loan Documents, and any successor agent appointed pursuant to Article IX. 
 “Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 
 “Advance Payment
Contract” means any contract whereby any Credit Party either (a) receives or becomes entitled to receive (either directly or indirectly) any payment (an “Advance Payment”) to be applied toward payment of the purchase
price of Hydrocarbons produced or to be produced from Oil and Gas Property owned by any Credit Party and which Advance Payment is, or is to be, paid in advance of actual delivery of such production to or for the account of the purchaser regardless
of such production, or (b) grants an option or right of refusal to the purchaser to take delivery of such production in lieu of payment, and, in either of the foregoing instances, the Advance Payment is, or is to be, applied as payment in full
for such production when sold and delivered or is, or is to be, applied as payment for a portion only of the purchase price thereof or of a percentage or share of such production; provided that inclusion of the standard “take or
pay” provision in any gas sales or purchase contract or any other similar contract in the ordinary course of business shall not, in and of itself, constitute such contract as an Advance Payment Contract for the purposes hereof. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Aggregate
Commitment” means, at any time, the sum of the Commitments of all the Lenders at such time. As of the Effective Date, the Aggregate Commitment is $250,000,000. 

  
 Page 2 

 “Aggregate Credit Exposure” means, as of any date of determination, the sum of
the Credit Exposure of all of the Lenders as of such date. 
 “Agreement” means this Third Amended and Restated Credit
Agreement, dated as of March 3, 2017, as it may be amended, restated, amended and restated, supplemented or otherwise modified from time to time. 

“Anti-Corruption Laws” shall mean all laws, rules, and regulations of any jurisdiction applicable to the Borrower or any of
its Affiliates from time to time concerning or relating to bribery or corruption, including without limitation the United States Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010 and other similar legislation in any other
jurisdictions. 
 “Applicable Percentage” means, with respect to any Lender at any time, a percentage equal to a fraction,
the numerator of which is such Lender’s Credit Exposure at such time and the denominator of which is the Aggregate Credit Exposure at such time. 

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

“Applicable Rate” means 8.50% per annum. 

“Approved Fund” has the meaning assigned to such term in Section 10.04. 

“Approved Petroleum Engineer” means Wright & Company, Inc. or any reputable firm of independent petroleum engineers
selected by the Borrower and reasonably acceptable to the Majority Lenders. 
 “Ares” means (a) Ares Management LLC,
its Affiliated investment managers and funds or accounts managed by any of them (but excluding any portfolio companies that are owned in whole or in part by any of the foregoing) and (b) any partner, member, manager, principal, director or
officer of any of the foregoing. 
 “Asset Sale” means any Disposition by any Credit Party of any Property other than
(a) Dispositions permitted by clauses (a), (b), (c), (d), (e), (f), (h) and (k) of Section 6.05, (b) Casualty Events and (c) any single Disposition or series of related Dispositions that involves Properties having a Fair Market
Value not exceeding $2,000,000 and when aggregated together with all other Dispositions under this clause (c) the total does not exceed $10,000,000. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any Person whose consent is required under 10.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. 

“Bankruptcy Event” means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith
determination of the Majority Lenders, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of
any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless such ownership interest results in or provides such Person with immunity from the jurisdiction of
courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permits such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or
agreements made by such Person. 

  
 Page 3 

 “Board” means the Board of Governors of the Federal Reserve System of the United
States of America. 
 “Borrower” means Gastar Exploration Inc., a Delaware corporation, and its successors and permitted
assigns. 
 “Borrowing Request” means a written request by the Borrower for a Loan in accordance with Section 2.03,
which shall be substantially in the form of Exhibit B. 
 “Business Day” means any day that is not a Saturday,
Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed. 
 “Capital Lease
Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are
required to be classified and accounted for as capital leases or lease obligations on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 

“Capital Stock” means shares of capital stock, partnership interests, membership interests in a limited liability company,
beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest. 

“Cash Equivalents” means (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United
States government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition; (b) certificates of deposit, time deposits, or overnight bank
deposits having maturities of six months or less from the date of acquisition issued by any Lender or by any commercial bank organized under the laws of the United States of America or any state thereof having combined capital and surplus of not
less than $500,000,000; (c) commercial paper of an issuer rated at least A-2 by S&P or P-2 by Moody’s, or carrying an equivalent rating by a “nationally
recognized statistical rating organization” (within the meaning of proposed Rule 3b-10 promulgated by the SEC under the Exchange Act), if both of the two named rating agencies cease publishing ratings of
commercial paper issuers generally, and maturing within six months from the date of acquisition; (d) repurchase obligations of any Lender or of any commercial bank satisfying the requirements of clause (b) of this definition, having a term
of not more than 30 days with respect to securities issued or fully guaranteed or insured by the United States government; (e) securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state,
commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory, the securities of which state, commonwealth, territory, political subdivision or taxing authority (as the
case may be) are rated at least A by S&P or A by Moody’s; (f) securities with maturities of six months or less from the date of acquisition backed by standby letters of credit issued by any Lender or any commercial bank satisfying the
requirements of clause (b) of this definition; and (g) shares of money market mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses (a) through (f) of this definition. 

“Casualty Event” means any loss, casualty or other insured damage to, or any nationalization, taking under power of eminent
domain or by condemnation or similar proceeding of, any Oil and Gas Property of the Credit Parties. 
 “Change in Law”
means the occurrence after the date of this Agreement or, with respect to the Administrative Agent or any Lender, such later date on which the Administrative Agent or such Lender becomes a party to this Agreement of (a) the adoption of any law,
rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the interpretation or application thereof by any Governmental 

  
 Page 4 

 
Authority or (c) compliance by any Lender (or, for purposes of Section 2.11(b), by any lending office of such Lender or by such Lender’s holding company, if any) with any request,
guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the
Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall be deemed to be a “Change in Law” regardless of the date
enacted, adopted or issued. 
 “Change of Control” means 

(a)    any “person” or “group” (as such terms are used in sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than Ares or any Related Party thereof, is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person or group shall be deemed to have “beneficial ownership” of all shares that such person or group has the right to acquire, whether such right is
exercisable immediately or only after the passage of time), directly or indirectly, of more than 35% of the total voting power of the outstanding Capital Stock normally entitled to vote in the election of directors (“Voting Stock”)
of the Borrower (or its successor by merger, consolidation or purchase of all or substantially all of its assets); 

(b)    the occurrence of a “Change of Control” as such term is defined under any Permitted Junior Lien Debt;

 (c)    a disposition by Borrower or a Subsidiary pursuant to which Borrower or any Subsidiary sells, leases,
licenses, transfers, assigns or otherwise Disposes, in one or a series of related transactions, all or substantially all of the properties or assets of Borrower and its Subsidiaries as determined by reference to the Borrower’s and its
Subsidiaries’ financial statements on the last day of the most recently ended fiscal quarter, determined on a consolidated basis in accordance with GAAP; or 

(d)    the Company’s stockholders approve any plan relating to the liquidation or dissolution of the Borrower. 

“Charges” has the meaning assigned to such term in Section 10.15. 

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

“Collateral” means all assets, whether now owned or hereafter acquired by any Borrower or any other Credit Party, in which a
Lien is granted or purported to be granted to any Secured Party as security for any Obligation. 
 “Commitment”
means, with respect to each Lender, the commitment of such Lender to make Loans hereunder on the Effective Date. The amount of each Lender’s Commitment as of the Effective Date is set forth on Schedule 2.01. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any
successor statute. 
 “Common Stock Purchase” means the purchase by Ares of shares of common stock of the Borrower on the
Effective Date pursuant to the Securities Purchase Agreement. 

  
 Page 5 

 “Connection Income Taxes” means Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated EBITDA”
means, for any period, Consolidated Net Income for such period plus (a) without duplication and to the extent deducted in determining such Consolidated Net Income, the sum of (i) consolidated interest expense for such period,
(ii) consolidated income tax expense for such period, (iii) all amounts attributable to depreciation, amortization or depletion for such period and (iv) any non-cash charges or any extraordinary
losses for such period, and minus (b) without duplication (i) all cash payments made during such period on account of reserves, restructuring charges and other non-cash charges added to Consolidated
Net Income pursuant to clause (a)(iv) above in a previous period and (ii) to the extent included in determining such Consolidated Net Income, any extraordinary gains and all non-cash items of income for
such period, all determined on a consolidated basis in accordance with GAAP; provided that, such Consolidated EBITDA shall be subject to pro forma adjustments for acquisitions and non-ordinary course
asset sales assuming that such transactions had occurred on the first day of the applicable calculation period, which adjustments shall be made in accordance with the guidelines for pro forma presentations set forth by the SEC or in a manner
otherwise acceptable to the Majority Lenders and with supporting documentation acceptable to the Majority Lenders. 
 “Consolidated
Fixed Charges” means, as of the date of any payment of dividends under Section 6.09(e), the sum of (a) Consolidated Interest Expense of the Borrower and the Subsidiaries for the period of four fiscal quarters most recently ended for
which financial statements are available, (b) the aggregate amount of scheduled principal payments made during such period in respect of long term Indebtedness of the Borrower and the Subsidiaries (other than payments made by the Borrower or
any Subsidiary to the Borrower or a Subsidiary), (c) the aggregate amount of principal payments (other than scheduled principal payments) made during such period in respect of long term Indebtedness of the Borrower and the Subsidiaries, to the
extent that such payments reduced any scheduled principal payments that would have become due within one year after the date of the applicable payment, (d) dividends paid in cash during such period on the Capital Stock of the Borrower together
with the amount of dividends paid under Section 6.09(e) since the end of such period and including the amount of such dividends paid on the date of determination and (e) the aggregate amount of Taxes paid in cash by the Borrower and the
Subsidiaries during such period. In the event that any Credit Party incurs, repays, repurchases or redeems any Indebtedness or issues, repurchases or redeems Disqualified Stock subsequent to the commencement of the period for which the Consolidated
Fixed Charges are being calculated but prior to the event for which the calculation of such Consolidated Fixed Charges is made, then the Consolidated Fixed Charges shall be calculated giving pro forma effect to such incurrence, repayment, repurchase
or redemption of Indebtedness, or such issuance, repurchase or redemption of Disqualified Stock, as if the same had occurred at the beginning of the period. 

“Consolidated Interest Expense” means, for any period, the sum of (a) the interest expense (including imputed interest
expense in respect of Capital Lease Obligations) of the Borrower and the Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, plus (b) any interest accrued during such period in respect of Indebtedness of
the Borrower or any Subsidiary that is required to be capitalized rather than included in consolidated interest expense for such period in accordance with GAAP. 

“Consolidated Net Income” means, for any period, the net income or loss of the Borrower and the Subsidiaries for such period
determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income of any Subsidiary to the extent that the declaration or payment of dividends or similar distributions by the Subsidiary of that
income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree, statute, rule or governmental regulation applicable to such Subsidiary and (b) the income of any Person in which any
other Person (other than the Borrower or a wholly owned Subsidiary or any director holding qualifying shares in accordance with applicable law) has a joint interest, except to the extent of the amount of dividends or other distributions actually
paid to the Borrower or a wholly owned Subsidiary by such Person during such period. 

  
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 “Consolidated Subsidiaries” means, for any Person, any Subsidiary or other
entity the accounts of which would be consolidated with those of such Person in its consolidated financial statements in accordance with GAAP. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Control Agreement” means a deposit account, securities or commodity account control agreement, as applicable, to be executed
and delivered among any Credit Party, the Administrative Agent and each bank at which such Credit Party maintains, any deposit, securities or commodity account, in each case, in form and substance acceptable to the Administrative Agent and the
Majority Lenders, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 

“Convertible Indenture” means that certain indenture, effective as of the Effective Date, governing the Convertible Notes,
between Wilmington Trust, National Association, as trustee, and the Borrower, as issuer. 
 “Convertible Notes” means those
certain senior second lien secured convertible notes due 2022, issued by the Borrower pursuant to the Securities Purchase Agreement on the Effective Date or on a later date as permitted by Section 6.02(k). 

“Counterpart Agreement” means a Counterpart Agreement substantially in the form of Exhibit C delivered by a Guarantor
pursuant to Section 5.14. 
 “Credit Exposure” means, with respect to any Lender at any time, the outstanding
principal amount of such Lender’s Loans at such time. 
 “Credit Parties” means collectively, Borrower and each
Guarantor, and each individually, a “Credit Party”. 
 “Declining Lender” has the meaning assigned to such
term in Section 2.08(b). 
 “Default” means any event or condition which constitutes an Event of Default or which upon
notice, lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Disclosed Matters” means the
actions, suits and proceedings and the environmental matters disclosed in Schedule 3.06. 

“Disposition” or “Dispose” means the sale, transfer, license, lease, exchange or other disposition
(including any Sale and Leaseback Transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith.

 “Disqualified Stock” means any Capital Stock which, by its terms (or by the terms of any security into which it is
convertible or for which it is exchangeable), or upon the happening of any event, matures or is mandatorily redeemable for any consideration other than other Capital Stock (which would not constitute Disqualified Stock), pursuant to a sinking fund
obligation or otherwise, or is redeemable for any consideration other than other Capital Stock (which would not constitute Disqualified Stock) at the sole option of the holder thereof, in whole or in part, on or prior to the date that is 91 days
after the Maturity Date. 

  
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 “Dollars” or “$” refers to lawful money of the United States of
America. 
 “DrillCo Agreement” means that certain Development Agreement dated as of October 14, 2016 by and between
the Borrower and DrillCo Investor, as amended as permitted under this Agreement. 
 “DrillCo Contract Area” means the
following locations in Kingfisher County, Oklahoma: Township 18 North – Range 6 West, Township 18 North – Range 7 West and Township 18 North – Range 8 West. 

“DrillCo Excluded Property” means (a) as of the Effective Date, Oil and Gas Property listed on Schedule 1.01(b)
and (b) at all times after the Effective Date, Oil and Gas Properties (whether owned as of the Effective Date or hereafter acquired by a Credit Party) in the DrillCo Contract Area other than Oil and Gas Properties hereafter acquired by any
Credit Party to which DrillCo PDP Reserves are attributed. 
 “DrillCo Investor” means STACK Exploration LLC, a Delaware
limited liability company. 
 “DrillCo Joint Well” means a “Joint Well Program Interest,” as that term is defined
in the DrillCo Agreement, that is located in the DrillCo Contract Area. 
 “DrillCo Operating Agreement” means a
“DrillCo Operating Agreement” as that term is defined in the DrillCo Agreement. 
 “DrillCo PDP Reserves” means
the Proved Developed Producing Reserves of any Credit Party attributable to any well located in the DrillCo Contract Area. 

“DrillCo Required Disposition” means an assignment to the DrillCo Investor of an interest in a DrillCo Joint Well in
accordance with the DrillCo Agreement pursuant to a DrillCo Wellbore Assignment. 
 “DrillCo Wellbore Assignment” means a
“Wellbore Assignment” as that term is defined in the DrillCo Agreement. 
 “Effective Date” has the meaning
specified in Section 4.01. 
 “Electronic Signature” means an electronic sound, symbol, or process attached to, or
associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. 

“Eligible Assignee” means any Person that qualifies as an assignee pursuant to Section 10.04(b)(i); provided that,
notwithstanding the foregoing, “Eligible Assignee” shall not include the Borrower or any of the Borrower’s Affiliates or Subsidiaries. 

“Eligible Contract Participant” means an “eligible contract participant” as defined in the Commodity Exchange Act
and the regulations thereunder. 
 “Environmental Laws” means all laws (including common law), rules, regulations, codes,
ordinances, orders, determinations, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural
resources, pollution, the management, release or threatened release of any Hazardous Material or to health and safety matters. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of any Credit Party directly or indirectly resulting from or based upon (a) violation of or liability under any Environmental Law, (b) the generation, use, handling,
transportation, storage, treatment or disposal (or arrangement for the disposal) of 

  
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any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract,
agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with any Credit Party, is treated
as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code. 

“ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations
issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the failure of any Plan to satisfy the minimum funding standard applicable to that Plan for
a plan year under Section 412 of the Code or Section 302 of ERISA; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding standard with respect
to any Plan; (d) the incurrence by any Credit Party or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by any Credit Party or any ERISA Affiliate from
the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by any Credit Party or any of its ERISA Affiliates of any liability with
respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by any Credit Party or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from any Credit Party or any ERISA
Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA. 

“Event of Default” has the meaning assigned to such term in Article VIII. 

“Excluded Account” means (a) any deposit accounts that are designated to hold cash as collateral in support of
performance bond obligations or other similar obligations or (b) any deposit accounts that are designated solely as accounts for, and are used solely for, employee benefits, taxes, payroll funding or petty cash in an amount not to exceed
$500,000 in the aggregate. 
 “Excluded Hedges” means, collectively, Swap Agreements that (a) are basis differential
only swaps for volumes of natural gas included under other Swap Agreements permitted by Section 6.08(a) or (b) are a hedge of volumes of Hydrocarbons by means of a price “floor” for which there exists no deferred obligation to pay the
related premium or other purchase price or the only deferred obligation is to either pay the premium or other purchase price on each settlement date so long as such settlement date occurs at least monthly, or pay the financing for such premium or
other purchase price. 
 “Excluded Swap Obligation” means with respect to any Guarantor, any obligation under any Swap
Agreement if, and to the extent that, all or a portion of the guaranty by such Guarantor of, or the grant by such Guarantor of a security interest or lien to secure, or the provision by such Guarantor of other support of, such obligation is or
becomes illegal under the Commodity Exchange Act by virtue of such party’s failure for any reason to constitute an Eligible Contract Participant at the time such guaranty, grant of security interest or lien or provision of support of, such Swap
Obligation becomes effective. If an obligation arises under a master agreement governing more than one Swap Agreement, such exclusion shall apply only to the portion of such obligation that is attributable to Swap Agreements for which such guaranty,
grant of security interest or lien to secure or provision of other support is or becomes illegal. 

  
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 “Excluded Taxes” means any of the following Taxes imposed on or with respect to
a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of
such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are
Other Connection Taxes, (b) in the case of a Lender, U.S. Federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on
the date on which (i) such Lender acquires such interest in the Loan or Commitment or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.12, amounts with respect to such Taxes
were payable either to such Lender’s assignor immediately before such Lender acquired the applicable interest in a Loan or Commitment or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such
Recipient’s failure to comply with Section 2.12(f) and (g) and (d) any U.S. Federal withholding Taxes imposed under FATCA. 

“Existing Administrative Agent” has the meaning assigned to such term in the recitals. 

“Existing Credit Agreement” has the meaning assigned to such term in the recitals. 

“Existing Indenture” means that certain Indenture, dated as of May 15, 2013 governing the Existing Notes, among the
Borrower, as issuer, the guarantors party thereto from time to time and Wells Fargo Bank, National Association, as trustee. 

“Existing Lenders” has the meaning assigned to such term in the recitals. 

“Existing Loans” has the meaning assigned to such term in Section 2.02(a). 

“Existing Notes” means the Borrower’s 8.625% senior secured notes due 2018. 

“Fair Market Value” means, with respect to any asset or liability, the fair market value of such asset or liability as
determined by the Borrower in good faith in accordance with generally accepted finance practices. 
 “FASB” means Financial
Accounting Standards Board. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or
any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of
the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities entered into in connection with the implementation of the foregoing. 

“Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of
1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not
so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of
recognized standing selected by it. 

  
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 “Fee Letter” means that certain Fee Letter by and between the Borrower and the
Administrative Agent dated as of the Effective Date, as may be amended, restated, supplemented or otherwise modified from time to time. 

“Financial Officer” means the chief financial officer, principal accounting officer, treasurer or controller of any Credit
Party. Any document delivered hereunder that is signed by a Financial Officer of a Credit Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Credit Party and
such Financial Officer shall be conclusively presumed to have acted on behalf of such Credit Party. 
 “Fixed Charge Coverage
Ratio” means, as of the date of any payment of dividends under Section 6.09(e), the ratio of (a) Consolidated EBITDA of the Borrower and the Subsidiaries for the period of four fiscal quarters most recently ended for which financial
statements are available to (b) Consolidated Fixed Charges as of such date. 
 “Foreign Lender” means a Lender that is
not a U.S. Person. 
 “GAAP” means generally accepted accounting principles in the United States of America as in effect
from time to time subject to the terms and conditions set forth in Section 1.03. 
 “Gas Imbalance” means (a) a
sale or utilization by the Borrower or any of its Subsidiaries of volumes of natural gas in excess of its gross working interest, (b) receipt of volumes of natural gas into a gathering system and redelivery by the Borrower or any of its
Subsidiaries of a larger or smaller volume of natural gas under the terms of the applicable transportation agreement, or (c) delivery to a gathering system of a volume of natural gas produced by the Borrower or any of its Subsidiaries that is
larger or smaller than the volume of natural gas such gathering system redelivers for the account of the Borrower or any of its Subsidiaries, as applicable. 

“Governmental Authority” means the government of the United States of America, any other nation or any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity properly exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government. 
 “Guarantee” of or by any Person (in this definition, the “guarantor”) means
any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or
indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply
funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to
maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of
any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business. 

“Guaranteed Liabilities” has the meaning assigned to such term in Section 7.01. 

“Guarantor” means the Borrower (with respect to the Obligations of the other Credit Parties) and each Subsidiary that is a
party hereto or hereafter executes and delivers to the Administrative Agent and the Lenders a Counterpart Agreement pursuant to Section 5.14 or otherwise. 

  
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 “Hazardous Materials” means all explosive or radioactive materials, substances
or wastes and all hazardous or toxic materials, substances or wastes or other chemicals or pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or
medical wastes and all other materials, substances or wastes of any nature regulated pursuant to, or for which liability or standards of conduct may be imposed under, any Environmental Law. 

“Hedge Modification” means the amendment, modification, cancellation, monetization, sale, transfer, assignment, early
termination or other disposition of any Swap Agreement. 
 “Hydrocarbon Interests” all presently existing or after-acquired
rights, titles and interests in and to oil and gas leases, oil, gas and mineral leases, other Hydrocarbon leases, mineral interests, mineral servitudes, overriding royalty interests, royalty interests, net profits interests, production payment
interests and other similar interests. Unless otherwise qualified, all references to a Hydrocarbon Interest or Hydrocarbon Interests in this Agreement shall refer to a Hydrocarbon Interest or Hydrocarbon Interests of the Borrower or the Guarantors.

 “Hydrocarbons” means, collectively, oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate, distillate
and all other liquid or gaseous hydrocarbons and related minerals and all products therefrom, in each case whether in a natural or a processed state. 

“Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money,
(b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person,
(d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding those incurred in the ordinary course of business which are not greater than 60 days past the due date or which are being contested
in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP), (e) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or
otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed by such Person, but limited to the lesser of (i) the amount of such Indebtedness and
(ii) the fair market value of the property securing such Indebtedness, (f) all Guarantees by such Person of Indebtedness of others to the extent of the lesser of the amount of such Indebtedness and the maximum stated amount of such
Guarantee, (g) all Capital Lease Obligations of such Person, (h) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (i) all obligations, contingent or
otherwise, of such Person in respect of bankers’ acceptances, (j) attributable Indebtedness in respect of Sale and Leaseback Transactions and (k) all obligations of such Person relating to any Production Payment. The Indebtedness of
any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other
relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of any Credit Party under any Loan Document and (b) to the extent not otherwise described in (a) hereof, Other Taxes. 

“Indemnitee” has the meaning assigned to such term in Section 10.03. 

“Ineligible Institution” has the meaning assigned to it in Section 10.04(b). 

“Information” has the meaning assigned to such term in Section 10.12. 

  
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 “Initial Swap ISDA Counterparty” means, with respect to any Initial Swap Party
ISDA, any Swap Counterparty (as defined in the Swap Intercreditor Agreement) to an Initial Swap Party ISDA (a) that is a party to the Swap Intercreditor Agreement on the Effective Date or (b) (i) that is acceptable to the Majority Lenders
as evidenced by their written consent and (ii) becomes a party to the Swap Intercreditor Agreement. 
 “Initial Swap Party
ISDAs” has the meaning assigned to such term in the Swap Intercreditor Agreement. 
 “Intercreditor Agreement”
means that certain intercreditor agreement, dated as of the Effective Date, between the Administrative Agent and the trustee under the Convertible Indenture, as amended, supplemented or otherwise modified from time to time, which shall be
substantially in the form of Exhibit D. 
 “Interest Payment Date” means each March 31st, June
30th, September 30th and December 31st of each fiscal year, or if such day is not a Business Day, the immediately following Business Day thereafter. 

“Investment” means all direct or indirect investments by such Person in other Persons (including, without limitation,
Affiliates) in the forms of loans (including Guarantees or other obligations), advances or capital contributions (excluding commission, travel and similar advances to officers and employees made in the ordinary course of business), purchases or
other acquisitions for consideration of Indebtedness, Capital Stock or other securities (excluding any interest in an oil or natural gas leasehold to the extent constituting a security under applicable law), together with all items that are or would
be classified as investments on a balance sheet prepared in accordance with GAAP. 
 “IRS” means the United States Internal
Revenue Service. 
 “Lead Lender” means Ares. 

“Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a
party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 

“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance,
charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect
as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Loan Documents” means this Agreement, any promissory notes executed in connection herewith, the Security Documents, the Fee
Letter, the Master Assignment and any other agreements executed by any Credit Party in connection with this Agreement and designated as a Loan Document therein. 

“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. 

“Majority Lenders” means (i) at any time prior to the Effective Date, Lenders having Commitments representing more than
50% of the Aggregate Commitment at such time and (ii) at any time on and after the Effective Date, Lenders having Credit Exposures representing more than 50% of the Aggregate Credit Exposure at such time. 

“Master Assignment” has the meaning assigned to such term in the recitals hereto. 

“Make-Whole Amount” shall be a cash amount equal to the greater of: 

(a)    1.0% of the principal amount repaid, prepaid or accelerated; and 

  
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 (b)    the excess of: 

(i)    the present value at such repayment, prepayment or acceleration date or the date the Obligations
otherwise become due and payable in full of (1) the sum of (A) the principal amount repaid, prepaid or accelerated plus (B) the Applicable Premium on such principal amount on September 1, 2019 plus (2) the
interest accruing on such principal amount from the date of such repayment, prepayment or acceleration through September 1, 2019 (excluding accrued but unpaid interest to the date of such repayment, prepayment or acceleration), such present
value to be computed using a discount rate equal to the Treasury Rate plus 50 basis points discounted to the repayment, prepayment or acceleration date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months), over 
 (ii)    the
principal amount of the Loans repaid, prepaid or accelerated. 
 “Material Adverse Effect” means a material adverse effect
on (a) the business, assets, operations, financial condition or results of operations of the Borrower and its Subsidiaries taken as a whole, (b) the ability of any Credit Party to perform any of its obligations under this Agreement and the
other Loan Documents or (c) the validity or enforceability of any Loan Document against any Credit Party which is a party thereto or the rights of or benefits available to the Lenders under this Agreement and the other Loan Documents. 

“Material Indebtedness” means Indebtedness (other than the Loans) and obligations in respect of one or more Swap Agreements
of the Borrower or any one or more of the Subsidiaries in an aggregate principal amount exceeding $15,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or any Subsidiary
in respect of any Swap Agreement at any time shall be the Swap Termination Value. 
 “Maturity Date” means March 3,
2022. 
 “Maximum Liability” has the meaning assigned to such term in Section 7.10. 

“Maximum Rate” has the meaning assigned to such term in Section 10.15. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Mortgaged Properties” means the Oil and Gas Properties listed on Schedule 1.01(a), together with any additional Oil
and Gas Properties of the Borrower or any Subsidiary over which a Mortgage may hereafter be granted to Administrative Agent for the benefit of the Secured Parties pursuant to Section 5.10. 

“Mortgages” means all mortgages, deeds of trust, amendments to mortgages, security agreements, assignments of production,
pledge agreements, collateral mortgages, collateral chattel mortgages, collateral assignments, financing statements and other documents, instruments and agreements evidencing, creating, perfecting or otherwise establishing the Liens on the Mortgaged
Properties as required by Section 5.10, which shall be substantially in the form of Exhibit E (with such changes thereto as may be reasonably requested by the Administrative Agent). 

“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which any Credit Party or
any ERISA Affiliate contributed or has any obligations (current or contingent). 
 “Natural Gas” means all natural gas,
distillate or sulphur, natural gas liquids and all products recovered in the processing of natural gas (other than condensate) including, without limitation, natural gasoline, coalbed methane gas, casinghead gas, iso-butane, normal butane, propane
and ethane (including such methane allowable in commercial ethane). 

  
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 “Net Cash Proceeds” means, (A) with respect to any Disposition or series of
related Dispositions of any assets (including any Oil and Gas Property and Capital Stock of any Subsidiary) by the Borrower or any Subsidiary, the excess, if any, of (a) the sum of cash and Cash Equivalents received in connection with such
Disposition or Dispositions, but only as and when so received, over (b) the sum of (i) the principal amount of any Indebtedness that is secured by such asset or assets and that is required to be repaid in connection with such Disposition
or Dispositions (other than the Loans) and (ii) the reasonable and documented out-of-pocket expenses (including Taxes) incurred by the Borrower or such Subsidiary
in connection with such Disposition or Dispositions and (B) with respect to any Hedge Modification by the Borrower or any Subsidiary, the excess, if any, of (a) the sum of cash and Cash Equivalents received in connection with such Hedge
Modification (after giving effect to any netting arrangements), over (b) the out-of-pocket expenses (including Taxes) incurred by the Borrower or such Subsidiary in
connection with such Hedge Modification. 
 “Non-Core Assets” means the Oil and Gas
Properties of the Borrower or any Subsidiary within (i) the WEHLU field in Oklahoma and (ii) the undeveloped acreage to the East of WEHLU located in 15N 4W and 14N 4W in Oklahoma County, Oklahoma. 

“Non-DrillCo Assets” means any Property located in the DrillCo Contract Area and owned or acquired by the Borrower or any
Subsidiary thereof but not necessary or desirable for the Borrower to produce, operate, maintain, and plug and abandon the DrillCo Joint Wells described in the Development Plans (as defined in the DrillCo Agreement). 

“NYMEX” means the New York Mercantile Exchange. 

“Obligations” means all obligations, liabilities and indebtedness (monetary (including post-petition interest, whether or not
allowed) or otherwise) of each Credit Party from time to time owed to the Administrative Agent or any Lender under any Loan Document, including any make-whole amounts (including the Make-Whole Amount), any repayment or prepayment premiums (including
the Applicable Premium) and any accrued and unpaid interest, in each case howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due. For the avoidance of doubt, it
is understood and agreed that any Make-Whole Amount or Applicable Premium shall be presumed to be the liquidated damages sustained by each Lender as a result of the early termination of the Loans and the Credit Parties agree that such amounts shall
constitute Obligations under this Agreement. 
 “Off-Balance Sheet Liability” of a
Person means (i) any repurchase obligation or liability of such Person with respect to accounts or notes receivable sold by such Person, (ii) any liability under any Sale and Leaseback Transaction which is not a Capital Lease Obligation,
(iii) any liability under any so-called “synthetic lease” transaction entered into by such Person, or (iv) any obligation arising with respect to any other transaction which is the
functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheets of such Person, but excluding from the foregoing clauses, operating leases and usual and customary oil, gas and mineral leases.

 “Offer” has the meaning assigned to such term in Section 2.08(b) 

“Oil and Gas Properties” means Hydrocarbon Interests; the properties now or hereafter pooled or unitized with Hydrocarbon
Interests; all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created thereby (including all units created under orders, regulations and rules of any Governmental Authority having
jurisdiction) which may affect all or any portion of the Hydrocarbon Interests; all operating agreements, contracts and other agreements which relate to any of the Hydrocarbon Interests or the production, sale, purchase, exchange or processing of
Hydrocarbons from or 

  
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attributable to such Hydrocarbon Interests; all Hydrocarbons in and under and which may be produced and saved or attributable to the Hydrocarbon Interests, the lands covered thereby and all oil
in tanks and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; all tenements, hereditaments, appurtenances and properties in anywise appertaining, belonging, affixed or
incidental to the Hydrocarbon Interests, properties, rights, titles, interests and estates described or referred to above, including any and all Property, real or personal, now owned or hereafter acquired and situated upon, used, held for use or
useful in connection with the operating, working or development of any of such Hydrocarbon Interests or Property (excluding drilling rigs, automotive equipment or other personal property which may be on such premises for the purpose of drilling a
well or for other similar temporary uses) and including any and all oil wells, gas wells, injection wells or other wells, buildings, structures, fuel separators, liquid extraction plants, plant compressors, pumps, pumping units, field gathering
systems, tanks and tank batteries, fixtures, valves, fittings, machinery and parts, engines, boilers, meters, apparatus, equipment, appliances, tools, implements, cables, wires, towers, casing, tubing and rods, surface leases, rights-of-way, easements and servitudes together with all additions, substitutions, replacements, accessions and attachments to any and all of the foregoing. Unless otherwise
qualified, all references to an Oil and Gas Property or to Oil and Gas Properties in this Agreement shall refer to an Oil and Gas Property or Oil and Gas Properties of Borrower or its Subsidiaries. 

“Organizational Documents” means (a) with respect to any corporation, its certificate or articles of incorporation,
organization or formation, as amended, and its by-laws, as amended, (b) with respect to any limited partnership, its certificate of limited partnership or formation, as amended, and its partnership
agreement, as amended, (c) with respect to any general partnership, its partnership agreement, as amended, and (d) with respect to any limited liability company, its certificate of formation or articles of organization, as amended, and its
limited liability company agreement or operating agreement, as amended. 
 “Other Connection Taxes” means, with respect to
any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its
obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment. 
 “Participant” has the meaning assigned to such term in
Section 10.04(a). 
 “Participant Register” has the meaning assigned to such term in Section 10.04. 

“Payment Currency” has the meaning assigned to such term in Section 7.07. 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing
similar functions. 
 “Permitted Encumbrances” means: 

(a)    Liens imposed by law for Taxes, assessments or other governmental charges or levies which are not yet delinquent or
which (i) are being contested in good faith by appropriate proceedings diligently conducted, (ii) the Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves with respect thereto in accordance with GAAP and
(iii) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect; 

  
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 (b)    carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s and other like Liens imposed by law, and contractual Liens granted to operators and non-operators under oil and gas operating agreements, in each case, arising in the
ordinary course of business or incident to the exploration, development, operation and maintenance of Oil and Gas Property and securing obligations that are not overdue by more than 60 days or which (i) are being contested in good faith by
appropriate proceedings, (ii) the Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves with respect thereto in accordance with GAAP and (iii) the failure to make payment pending such contest could not
reasonably be expected to result in a Material Adverse Effect; 
 (c)    contractual Liens which arise in the ordinary
course of business under oil and gas leases, division orders, contracts for the sale, transportation or exchange of oil and natural gas, unitization and pooling declarations and agreements, area of mutual interest agreements, marketing agreements,
processing agreements, development agreements, gas balancing agreements, injection, repressuring and recycling agreements, salt water or other disposal agreements and seismic or other geophysical permits or agreements, which Liens are limited to the
Oil and Gas Property and related property that is the subject of such agreement, arising out of or pertaining to the operation or the production or sale of Hydrocarbons produced from the Oil and Gas Property, provided that any such Lien referred to
in this clause does not materially impair the use of the property covered by such Lien for the purposes for which such property is held by the Borrower or any Subsidiary or materially impair the value of such property subject thereto; 

(d)    pledges and deposits in connection with workers’ compensation, unemployment insurance and other social
security laws or regulations; 
 (e)    Liens on cash and securities and deposits to secure the performance of bids,
trade contracts, leases, statutory obligations (excluding Liens arising under ERISA), surety and appeal bonds, performance bonds and other obligations of a like nature, in each case, which are in the ordinary course of business and which are in
respect of obligations that are not delinquent or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; 

(f)    Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies, or under general depositary agreements, and burdening only deposit accounts or other funds maintained with a creditor depository institution, provided that no such deposit
account is a dedicated cash collateral account or is subject to restrictions against access by the depositor in excess of those set forth by regulations promulgated by the Board and no such deposit account is intended by Borrower or any of its
Subsidiaries to provide collateral to the depository institution; 
 (g)    judgment liens in respect of judgments that
do not constitute an Event of Default under clause (k) of Article VIII; 
 (h)    easements, zoning restrictions, rights-of-way, servitudes, permits, surface leases, and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure
any monetary obligations and that, in the aggregate, do not materially detract from the value of the affected property or materially impair the use of the affected property or interfere with the ordinary conduct of business of the Borrower or any
Subsidiary; 
 (i)    royalties, overriding royalties, reversionary interests and similar burdens granted by the
Borrower or any Subsidiary with respect to the Oil and Gas Property owned by the Borrower or such Subsidiary, as the case may be, if the net cumulative effect of such burdens does not operate to deprive the Borrower or any Subsidiary of any material
right in respect of its assets or properties (except for rights customarily granted with respect to such interests) and the net cumulative effect is deducted in the calculation of PV10; 

  
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 (j)    Liens arising from Uniform Commercial Code financing statement filings
regarding operating leases entered into by the Borrower or any Subsidiary in the ordinary course of business covering the property under the lease; 

(k)    unperfected Liens reserved in leases (other than oil and gas leases) or arising by operation of law for rent or
compliance with the lease in the case of leasehold estates; and 
 (l)    defects in or irregularities of title (other
than defects or irregularities of title to Oil and Gas Property), if such defects or irregularities do not deprive the Borrower or any Subsidiary of any material right in respect of its assets or properties; 

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 

“Permitted Junior Liens” means a Lien that is junior in priority to the Liens securing the Obligations (pursuant to the
Intercreditor Agreement, an intercreditor substantially identical to the Intercreditor Agreement or an intercreditor agreement in form and substance satisfactory to the Administrative Agent and the Majority Lenders in their sole discretion), granted
by the Borrower or any Guarantor in favor of the holders of Permitted Junior Lien Debt (or any collateral agent, trustee or representative in connection therewith). 

“Permitted Junior Lien Debt” means any Indebtedness of the Borrower and the Guarantors constituting Permitted Refinancing
Indebtedness of the Convertible Notes to the extent permitted by Section 6.02(l) and Section 6.09 that is secured by a Permitted Junior Lien; provided that on or before the date such Indebtedness is incurred, the agent or trustee for such
Indebtedness, on behalf of itself and each holder of Permitted Junior Lien Debt, becomes a party to the Intercreditor Agreement or an intercreditor agreement substantially identical thereto or executes and delivers an intercreditor agreement in form
and substance satisfactory to the Administrative Agent and the Majority Lenders in their sole discretion. 
 “Permitted Junior Lien
Obligations” means Permitted Junior Lien Debt and all other obligations in respect thereof.
 “Permitted Prior
Liens” means Liens described in Section 6.03(a) and in clauses (b), (d), (e), (f), (h) and (i) of Section 6.03 that, by operation of law, have priority over the Liens securing the Obligations. 

“Permitted Refinancing Indebtedness” means any Indebtedness of the Borrower or any Subsidiary, and Indebtedness constituting
Guarantees thereof by the Borrower or any Subsidiary, incurred or issued solely in exchange for, renewing or extending, or the Net Cash Proceeds of which are used solely to extend, refinance, renew, replace, defease or refund, Convertible Notes, in
whole or in part, from time to time; provided that: 
 (a)    the principal amount of such Permitted Refinancing
Indebtedness does not exceed the principal amount of the Indebtedness being so refinanced plus the amount of any accrued interest, premiums, fees and expenses incurred in connection with such Permitted Refinancing Indebtedness; provided that
(i) if the principal amount of the Indebtedness being so refinanced is reduced in connection with a debt exchange or similar transaction, then the principal amount of such Permitted Refinancing Indebtedness shall not exceed the principal amount
of the Indebtedness being so refinanced after taking into account any discount or reduction that may have resulted from such exchange or similar transaction and (ii) such Permitted Refinancing Indebtedness shall not consist of additional
borrowings or issuances of Indebtedness above what is required to refinance the Indebtedness being so refinanced; 

  
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 (b)    such Permitted Refinancing Indebtedness does not provide for any
scheduled repayment, mandatory redemption or payment of a sinking fund obligation prior to the date that is 180 days after the fifth anniversary of the Effective Date (except for any customary offer to repurchase such Indebtedness as a result of
asset sales or the occurrence of a “Change of Control” under and as defined in the Convertible Indenture); 

(c)    the covenants, default and remedy provisions, mandatory prepayment, repurchase and redemption provisions of such
Permitted Refinancing Indebtedness, taken as a whole, are not materially more restrictive to the Borrower and its Subsidiaries than those imposed by the Convertible Notes being refinanced; 

(d)    the cash interest rate, the overall effective interest cost and the weighted average yield (with the comparative
determinations to be made by the Majority Lenders in a manner consistent with generally accepted finance practices) applicable to such Permitted Refinancing Indebtedness does not exceed the greater of (i) the cash interest rate, the overall
effective interest cost and the weighted average yield (as calculated above) of the Convertible Notes being refinanced and (ii) the prevailing market cash interest rate, overall effective interest cost and weighted average yield (as calculated
above) then in effect for similarly situated credits at the time such Permitted Refinancing Indebtedness is incurred (provided that such cash interest rate, the overall effective interest cost and the weighted average yield (as calculated above)
shall not in any event exceed 15.0 %); 
 (e)    (i) the default interest rate shall not exceed 2.0% and (ii) any
make-whole premiums, non-call protections or other premiums must be on prevailing market terms; 

(f)    the aggregate cash interest payments do not exceed $15,000,000 in any fiscal year; 

(g)    such Permitted Refinancing Indebtedness is unsecured or secured solely by Permitted Junior Liens; and 

(h)    no Subsidiary of the Borrower is required to Guarantee such Permitted Refinancing Indebtedness unless such
Subsidiary is (or concurrently with any such Guarantee becomes) a Guarantor hereunder. 
 “Person” means any natural
person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

“Petroleum Industry Standards” means Definitions for Oil and Gas Reserves promulgated by the Society of Petroleum Engineers
(or any generally recognized successor) as in effect at the time in question. 
 “Plan” means any employee pension benefit
plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which any Credit Party or any ERISA Affiliate is (or, if such plan were
terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Production Payment” means the grant or transfer by the Borrower or any of its Subsidiaries to any Person of a royalty,
overriding royalty, net profits interest, production payment, partnership or other interest in Oil and Gas Property, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such
properties, in which the holder of such interests is entitled to receive a specified volume or value of production and in which the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation
of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for
environmental, title or other matters customary in the oil and gas business. 

  
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 “Projected Oil and Gas Production” means (a) the projected production of
oil or natural gas (measured by volume unit or BTU equivalent, not sales price) from Oil and Gas Properties owned by the Borrower and the Guarantors which have attributable to them Proved Developed Producing Reserves, as such production is projected
in the most recent Reserve Report delivered pursuant to this Agreement, after deducting projected production from any Oil and Gas Properties or Hydrocarbon Interests sold or under contract for sale that had been included in such report and after
adding projected production from any Oil and Gas Properties or Hydrocarbon Interests that had not been reflected in such report but that are reflected in a separate or supplemental report meeting the requirements of Section 5.01(g) and otherwise are
satisfactory to the Majority Lenders plus (b) the projected production of oil or natural gas (measured by volume unit or BTU equivalent, not sales price) from Oil and Gas Properties owned by the Borrower and the Guarantors which are
projected to have Proved Developed Producing Reserves attributed to them within the following 12 month period based on the planned capital expenditures set forth in the Projections. 

“Projections” means the Borrower’s forecasted (a) profit and loss statements and (b) cash flow statements, all
prepared on a basis consistent with the historical financial statements described in Section 3.04 and after giving effect to the Transactions, together with appropriate supporting details and a statement of underlying assumptions, in each case
in form and substance satisfactory to the Lenders and for the period from the Effective Date through December 31, 2017. 

“Property” means any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether
tangible or intangible. Unless otherwise qualified, all references to Property in this Agreement shall refer to a Property or Properties of the Borrower or its Subsidiaries. 

“Proved Developed Producing Reserves” shall mean oil and gas reserves that, in accordance with Petroleum Industry Standards,
are classified as both “Proved Reserves” and “Developed Producing Reserves.” 
 “Proved Reserves” shall
mean oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves”, (b) “Developed Non-Producing Reserves” or (c) “Undeveloped Reserves”. 

“Public-Sider” means a Lender or any representative of such Lender that does not want to receive material non-public information within the meaning of the federal and state securities laws. 

“PV10” means, in respect of the Proved Reserves of any Credit Parties’ Oil and Gas Property set forth in the most
recently delivered Reserve Report, the aggregate net present value (discounted at 10% per annum) of such Oil and Gas Properties calculated before income taxes, but after reduction for royalties, lease operating expenses, severance and ad valorem
taxes, capital expenditures and abandonment costs and with no escalation of capital expenditures or abandonment costs (a) calculated in accordance with SEC guidelines but using Strip Price for crude oil and natural gas liquids (WTI Cushing) and
natural gas (Henry Hub), (b) calculated by (i) in the case of a Reserve Report prepared as of December 31 of any year, an Approved Petroleum Engineer and (ii) in the case of each other Reserve Report or as otherwise required under
this Agreement, at the Borrower’s option, a petroleum engineer employed by the Borrower or an Approved Petroleum Engineer, in each case, in such person’s reasonable judgment after having reviewed the information from the most recently
delivered Reserve Report, (c) as set forth in the Reserve Report most recently delivered under Section 5.01(g), (d) as adjusted to give effect to Swap Agreements permitted by this Agreement as in effect on the date of such determination and
(e) as adjusted to give pro forma effect to all Dispositions or Acquisitions completed since the date of the Reserve Report. 

“Qualified Counterparty” means, with respect to any Swap Agreement, any counterparty to a Swap Agreement (a) that is a
party to the Swap Intercreditor Agreement on the Effective Date or (b) (i) that is acceptable to the Majority Lenders as evidenced by their written consent and (ii) becomes a party to the Swap Intercreditor Agreement. 

  
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 “Qualified ECP Guarantor” means, in respect of any obligations under Swap
Agreements that constitute Secured Obligations hereunder, each Guarantor that has total assets exceeding $10,000,000 at the time the relevant guarantee provided by such Guarantor or grant of the relevant security interest becomes effective with
respect to such obligations or such other person as constitutes an Eligible Contract Participant and can cause another person to qualify as Eligible Contract Participant at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the
Commodity Exchange Act. 
 “Qualified Preferred Shares” means shares of any series of the Borrower’s preferred stock
(other than Disqualified Stock), the proceeds of which are used to redeem or repurchase all or any number of the then outstanding Series A Preferred Shares or Series B Preferred Shares (or any previously issued shares of Qualified Preferred Shares);
provided such preferred stock (a) is not materially more restricted on Gastar and its Subsidiaries than the Series A Preferred Stock and the Series B Preferred Stock, as in effect on the date hereof, (b) does not have a weighted average
yield in excess of the weighted average yield (with the comparative determinations to be made by the Majority Lenders in a manner consistent with generally accepted finance practices) of the Indebtedness being refinanced or repaid with the proceeds
of the Qualified Preferred Shares and (c) for which cash distributions do not exceed $15,000,000 per annum. 

“Recipient” means (a) the Administrative Agent, (b) the Majority Lenders and (b) any other Lender, as
applicable. 
 “Register” has the meaning assigned to such term in Section 10.04. 

“Rejection Notice” has the meaning assigned to such term in Section 2.08(b). 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors,
officers, managers, members, partners, employees, agents and advisors of such Person and such Person’s Affiliates. 
 “Removal
Effective Date” has the meaning assigned to such term in Article IX. 
 “Requirements of Law” means, as to any
Person, any order, law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its
property is subject. 
 “Reserve Report” means an unsuperseded engineering analysis of the Credit Parties’ Oil and Gas
Property, in form and substance reasonably acceptable to the Majority Lenders, which shall include (i) pricing assumptions based upon the Strip Price and (ii) projections of revenues attributable to all undrilled locations on the Credit
Parties’ Oil and Gas Property based on a development plan for a period no greater than 10 years from the date of such Reserve Report reasonably acceptable to the Majority Lenders; provided that, for the avoidance of doubt, such
projections need not be based on historical capital expenditures in such locations nor take into account potential financings of projected capital expenditures. 

“Reserve Report Certificate” means, with respect to any Reserve Report, a certificate from a Responsible Officer certifying
that in all material respects: (a) such Reserve Report is based on information reasonably available to the Borrower; (b) the Borrower or its Subsidiaries owns good and defensible title to the Oil and Gas Property evaluated in such Reserve
Report (except any such Oil and Gas Property that has been Disposed of since the date of such Reserve Report as permitted by this Agreement) and such properties are free and clear of all Liens except for Liens permitted by Section 6.03; (c)
except as set forth on an exhibit to the Reserve Report Certificate, on a net basis there are no gas imbalances, take-or-pay or other

  
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prepayments with respect to its Oil and Gas Property evaluated in such Reserve Report which would require the Borrower or any Subsidiary to deliver Hydrocarbons either generally or produced from
Oil and Gas Property at some future time without then or thereafter receiving full payment therefor other than those which do not result in any Credit Party or any Subsidiary having net aggregate liability in excess of $1,000,000; (d) except as
set forth on an exhibit to the Reserve Report Certificate, none of the Borrower’s or its Subsidiaries’ Oil and Gas Property have been Disposed of since the last delivery of the corresponding Reserve Report, which exhibit shall describe in
reasonable detail such Dispositions; (e) the Borrower is in compliance with Section 5.10(a); and (f) except as set forth on an exhibit to the Reserve Report Certificate, all such properties are owned by the Borrower or a Guarantor.

“Resignation Effective Date” has the meaning assigned to such term in Article IX. 

“Responsible Officer” means the chief executive officer, president, vice president, chief financial officer, principal
accounting officer, treasurer or assistant treasurer of a Credit Party. Any document delivered hereunder that is signed by a Responsible Officer of a Credit Party shall be conclusively presumed to have been authorized by all necessary corporate,
partnership and/or other action on the part of such Credit Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Credit Party. 

“Restricted Payment” means: 

(a)    any dividend or other distribution or other payment (whether in cash, securities or other property) with respect to
any Capital Stock in the Borrower or any Subsidiary, to any Person (in each case, solely in such Person’s capacity as holder of such Capital Stock or, in the case of any payment, to the direct or indirect holders of the Borrower’s or any
of its Subsidiaries’ Capital Stock), including any dividend or distribution payable or payment made in connection with any merger, amalgamation or consolidation; 

(b)    any purchase, redemption, defeasance or other acquisition or retirement for value of any Capital Stock of the
Borrower (including in connection with any merger, amalgamation or consolidation); and 
 (c)    any principal payment
on, or redemption, purchase, repurchase, defeasance or other acquisition or retirement for value, in each case, prior to any scheduled repayment, sinking fund payment or scheduled maturity, of any Indebtedness secured by Liens junior in priority to
the Liens securing the Obligations hereunder or unsecured Indebtedness, of the Borrower or any Subsidiary (excluding any intercompany Indebtedness between or among Borrower and any Guarantor), except a payment of interest or principal at the stated
maturity date thereof. 
 “S&P” means Standard & Poor’s. 

“Sale and Leaseback Transaction” means any sale or other transfer of any property by any Person with the intent to lease such
property as lessee. 
 “Sanctioned Country” means, at any time, a country or territory which is the subject or target of
any Sanctions (at the time of this Agreement, Cuba, Crimea, Iran, North Korea, Sudan and Syria). 
 “Sanctioned Person”
means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, (b) any Person
operating, organized or resident in a Sanctioned Country or (c) any Person controlled by any such Person. 

  
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 “Sanctions” means economic or financial sanctions or trade embargoes imposed,
administered or enforced from time to time by the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, the United Nations Security Council and
the European Union, each as amended, supplemented or substituted from time to time. 
 “SCOOP and STACK play” means those
geographic areas of the state of Oklahoma prospective for Hydrocarbons and generally known in the industry as the South Central Oklahoma Oil Province or “SCOOP” and Sooner Trend Anadarko Basin Canadian and Kingfisher Counties or
“STACK”. 
 “SEC” means the Securities and Exchange Commission of the United States of America. 

“Second Offer” has the meaning assigned to such term in Section 2.08(b). 

“Secured Obligations” means (a) the Obligations, (b) all obligations in respect of Swap Agreements entered into
with a counterparty that is a Qualified Counterparty at the time such Swap Agreement is entered into and (c) all obligations in respect of Initial Swap Party ISDAs entered into with an Initial Swap ISDA Counterparty thereto. The term
“Secured Obligations” excludes any Excluded Swap Obligations with respect to any applicable Guarantor. 
 “Secured
Party” means each of the Administrative Agent, each Lender, any Qualified Counterparty (to the extent, and for so long as, the obligations in respect of Swap Agreements with such Qualified Counterparty constitute “Secured
Obligations” hereunder), any Initial Swap ISDA Counterparty (to the extent, and for so long as, the obligations in respect of Initial Swap Party ISDAs with such Initial Swap ISDA Counterparty constitute “Secured Obligations”
hereunder) and the “Collateral Agent”, as defined in the Swap Intercreditor Agreement. 
 “Securities Purchase
Agreement” has the meaning set forth in the recitals. 
 “Security Agreement” means that certain Pledge and
Security Agreement executed and delivered by each Credit Party on the Effective Date in favor of the Administrative Agent, for the benefit of the Secured Parties, which shall be substantially in the form of Exhibit F (with
such changes thereto as may be reasonably requested by the Administrative Agent). 
 “Security Documents” means
collectively the Security Agreement, all Control Agreements, the Intercreditor Agreement, the Swap Intercreditor Agreement and all Mortgages, deeds of trust, security agreements, pledge agreements, guaranty agreements (including Article VII of this
Agreement but otherwise excluding this Agreement), collateral assignments and all other collateral documents, now or hereafter executed and delivered by the Borrower or any other Person as security for the payment or performance of the Secured
Obligations, all such documents to be in form and substance reasonably satisfactory to the Administrative Agent and the Majority Lenders. 

“Solvent” means, with respect to any Person as of the date of any determination, that on such date (a) the fair value of
the Property of such Person (both at fair valuation and at present fair saleable value) is greater than the total liabilities, including contingent liabilities, of such Person, (b) the present fair saleable value of the assets of such Person is
not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent
obligations, and other commitments as they mature in the normal course of business, (d) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and
liabilities mature, and (e) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s Property would constitute unreasonably small capital after giving due
consideration to current and anticipated future capital requirements and current and anticipated future business conduct and 

  
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the prevailing practice in the industry in which such Person is engaged. In computing the amount of contingent liabilities at any time, such liabilities shall be computed at the amount
which, in light of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Strip Price” shall mean, as of any date of determination, the forward month prices as of such date, for the most comparable
hydrocarbon commodity applicable to such future production month for a five-year period (or such shorter period if forward month prices are not quoted for a reasonably comparable hydrocarbon commodity for the full five-year period), with such prices
escalated at 2% each year thereafter based on the last quoted forward month price of such period, as such prices are (i) quoted on the NYMEX as of the determination date and (ii) adjusted by appropriate management adjustments for additions
to reserves and depletion or sale of reserves since the date of such Reserve Report, adjusted for any basis differential as of the date of determination. 

“Subsidiary” means, with respect to any Person (the “parent”) at any date, any other Person the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other Person (a) of which Capital
Stock representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is,
as of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. Unless the context otherwise clearly requires, references herein to a “Subsidiary”
refer to a Subsidiary of the Borrower. 
 “Subject Lease” means the Oil and Gas Property set forth on
Schedule 1.01(c) or at any time hereafter held or acquired by any Credit Party, in each case, that is subject to a right of a third party existing on the date hereof under an area of mutual interest agreement, joint venture
agreement, participation agreement or other similar agreement customary in the oil and gas industry to acquire an interest in such lease from such Credit Party; provided, in each case, that such right has not been exercised and the time for
exercise thereof has not expired. 
 “Swap Agreement” means (a) any Initial Swap Party ISDA or (b) any agreement
or arrangement, or any combination thereof, (i) consisting of interest rate or currency swaps, caps or collar agreements, foreign exchange agreements, commodity contracts or similar arrangements entered into by such Person providing for
protection against fluctuations in interest rates, currency exchange rates or the exchange of nominal interest obligations, either generally or under specific contingencies or (ii) relating to oil and gas or other hydrocarbon prices or basis
costs or differentials or other similar financial factors. 
 “Swap Intercreditor Agreement” means that certain Swap
Intercreditor Agreement entered into by and among the Administrative Agent, the Collateral Agent, the Borrower and the Qualified Counterparties from time to time party thereto, as the same may be amended or otherwise modified from time to time. 

“Swap Termination Value” means, in respect of any one or more Swap Agreements, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Agreements, (a) for any date on or after the date such Swap Agreements have been closed out and termination value(s) determined in accordance therewith, such termination value(s) and
(b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Agreements, as determined by the
counterparties to such Swap Agreements. 
 “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

  
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 “Transactions” means (a) the execution, delivery and performance by the
Credit Parties of this Agreement and the other Loan Documents, (b) the borrowing of Loans, and (c) the use of the proceeds thereof. 

“Treasury Rate” means the yield to maturity at a time of computation of United States Treasury securities with a constant
maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available at least two Business Days prior to the prepayment date (or, if such Statistical Release is no longer
published, any publicly available source of similar market data)) most nearly equal to the period from the applicable prepayment date to September 1, 2019, provided, however, that if the period from the applicable prepayment date
to September 1, 2019 is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest 1/12th of a year)
from the weekly average yields of United States Treasury securities for which such yields are given having maturities as close as possible to September 1, 2019, except that if the period from the applicable prepayment date to September 1,
2019 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used. 

“U.S. Government Securities” means direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America (or by any agency or instrumentality thereof to the extent such obligations are entitled to the full faith and credit of the United States of America), in each case maturing within one year
from the date of acquisition thereof. 
 “U.S. Person” means a “United States person” within the meaning of
Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the meaning assigned to such term in Section
2.12(f)(ii)(B)(3). 
 “Wellbore Lien” means, with respect to any DrillCo PDP Reserves of a Credit Party attributable to a
particular well, a Lien (including a real property mortgage on and a locally, and, if applicable, centrally, filed financing statement covering fixtures and as-extracted collateral) on (i) the interest of
the relevant Credit Party in and to such well, the associated wellbore and the associated fixtures and as-extracted collateral, and (ii) the interest of such Credit Party in and to the Leases or other Oil
and Gas Properties attributable to such DrillCo PDP Reserves, but only insofar as such Leases or other Oil and Gas Properties are necessary to produce, operate, maintain, and plug and abandon such well. 

“Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 “Withholding
Agent” means any Credit Party and the Administrative Agent. 
 Section 1.02    Terms
Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The
words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word
“shall”. Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to
time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and
assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to 

  
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refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to
Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights. 
 ARTICLE II. 

THE CREDITS 

Section 2.01    Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an
accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent in writing that the Borrower requests an amendment to any provision
hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Majority Lenders request an
amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and
applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Notwithstanding any other provision contained herein, all terms of an accounting or
financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under Financial Accounting Standards Board Accounting Standards Codification 825 (or
any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value”, as defined therein. 

Section 2.02    Loans and Commitments 

(a)    The Credit Parties and the Lenders acknowledge and agree that as of the date hereof (i) the aggregate principal
amount of loans outstanding under the Existing Credit Agreement equals $69,228,791.92, (ii) the aggregate principal amount of loans outstanding under the Existing Credit Agreement owing to each Lender equals the amount set forth opposite such
Lender’s name on Schedule I hereto under the column entitled “Prior Loans” and (iii) all outstanding loans under the Existing Credit Agreement are hereby converted into and continued as Loans hereunder (the “Existing
Loans”) such that, immediately after giving effect to such conversion, the outstanding principal amount of Loans owing to each Lender hereunder shall be in the amount set forth opposite such Lender’s name on Schedule I under the
column entitled “Loans”. Notwithstanding anything set forth herein to the contrary, in order to effect the continuation of the Existing Loans contemplated by the preceding sentence (A) the amount to be funded on or at any time after
the Effective Date by each Lender hereunder in respect of its Commitments shall be reduced by the principal amount of such Lender’s Existing Loans under the Existing Credit Agreement outstanding on the Effective Date and (B) the Borrower
shall pay or cause to be paid, on the Effective Date, to each Lender the interest that accrued on the Existing Loans to the Effective Date that was unpaid by the Borrower (it being agreed that such accrued and unpaid interest shall be paid by or on
behalf of the Borrower to the Existing Administrative Agent, for distribution to the Lenders, and the Administrative Agent may conclusively assume for purposes of maintaining the Register that all such accrued and unpaid interest has been paid on
the Effective Date). 
 (b)    Subject to the terms and conditions set forth herein, each Lender agrees to make a Loan
to the Borrower on the Effective Date in an aggregate principal amount equal to such Lender’s Commitment at such time. The Commitments are not revolving and amounts repaid or prepaid may not be
re-borrowed under any circumstance. Any portion of the Commitments not drawn by the Borrower on or before 1:00 p.m., New York City time, on the Effective Date shall terminate immediately and without further
action. 

  
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 (c)    Once borrowed or repaid, the Loans may not be reborrowed, and any
Commitment, once terminated or reduced, may not be reinstated. Each Lender’s Commitment shall automatically and without notice be reduced to zero immediately after the funding of the Loans on the Effective Date. 

Section 2.03    Request for Loans. 

(a)    To request Loans to be made on the Effective Date, the Borrower shall deliver in writing to the Administrative Agent
a duly completed Borrowing Request, not later than 12:00 noon, New York City time, 15 calendar days prior to the Effective Date (or such shorter period as agreed to by the Lead Lender in its sole discretion, but in any event not later than 12:00
noon, New York City time, one Business Day prior to the Effective Date). Such Borrowing Request shall be irrevocable and shall be delivered by telecopy or email to the Administrative Agent and Majority Lenders and shall be signed by the Borrower.
Each such written Borrowing Request shall specify the following information: 
 (i)    the aggregate
amount of the Loans to be made; 
 (ii)    the Effective Date, which shall be a Business Day; and 

(iii)    the wiring information of the Borrower’s account to which funds are to be disbursed, which
shall comply with the requirements of Section 2.04. 
 Promptly following receipt of a Borrowing Request in accordance with this
Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made. 

Section 2.04    Funding of Loans. 

(a)    Each Lender shall make its Loan on the Effective Date by wire transfer of immediately available funds by 12:00 noon,
New York City time, to the account of the Administrative Agent designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly disbursing the amounts so received, in
like funds, to a deposit account of the Borrower designated by the Borrower in the applicable Borrowing Request. 

(b)    Unless the Administrative Agent shall have received written notice from a Lender prior to the proposed time its
Loan is required to be made by such Lender in accordance with paragraph (a) of this Section that such Lender will not make available to the Administrative Agent such Lender’s Loan, the Administrative Agent may assume that such Lender has
made its Loan available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its Loan
available to the Administrative Agent, then such Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is
made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate reasonably determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to the Loans. If such Lender pays such amount to the Administrative Agent, then the principal portion of such
payment shall constitute such Lender’s Loan. 
 Section 2.05    Repayment of Loans; Evidence of
Debt. 
 (a)    The Borrower hereby unconditionally promises to pay to the Administrative Agent for the
account of each Lender the then unpaid principal amount of the Loans on the Maturity Date. 

  
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 (b)    Each Lender shall maintain in accordance with its usual practice an
account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from the Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(c)    The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made
hereunder, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account
of the Lenders and each Lender’s Applicable Percentage thereof. 
 (d)    The entries made in the accounts
maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent
to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement; and provided further that to the extent there is any
conflict between the accounts maintained pursuant to paragraph (b) or (c) of this Section and the Register maintained pursuant to Section 10.04, the Register shall control. 

(e)    Any Lender may request that the Loan made by it be evidenced by a promissory note. In such event, the Borrower
shall prepare, execute and deliver to such Lender a promissory note payable to such Lender or its registered assigns and in the form attached hereto as Exhibit G. Thereafter, the Loan evidenced by such promissory note and interest thereon
shall at all times (including after assignment pursuant to Section 10.04) be represented by a promissory note in such form. 

Section 2.06    Optional Prepayment of Loans. 

(a)    The Borrower shall have the right at any time and from time to time to prepay the Loans, in whole or in part, in an
aggregate minimum amount equal to (i) if being paid in whole, the Obligations and (ii) if being paid in part, $5,000,000 and integral multiples of $1,000,000 in excess of that amount. 

(b)    The Borrower shall notify the Administrative Agent and the Lead Lender in writing of any prepayment hereunder not
later than 2:00 p.m., New York City time, three Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of the Loans to be prepaid. Promptly following receipt
of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment shall be applied ratably to the Loans to be prepaid. 

(c)    Each prepayment pursuant to this Section 2.06 shall be accompanied by a cash amount equal to the accrued but
unpaid interest through the date of such prepayment, together with the Applicable Premium required under Section 2.09. 

Section 2.07    Mandatory Prepayment of Loans. 

(a)    Unless the Majority Lenders shall otherwise agree in writing, if any Credit Party shall consummate any Asset Sale or
incur any Indebtedness (other than Indebtedness permitted under Section 6.02), then, not later than two Business Days after receipt of the Net Cash Proceeds therefrom, the Borrower shall (i) apply all or any portion of such Net Cash
Proceeds to the repayment of Loans and the payment of accrued and unpaid interest and the Applicable Premium payable under Section 2.09, and/or in the case of any Asset Sale (ii) elect (by written notice to the Administrative Agent) to
reinvest all or any portion of such Net Cash Proceeds in Additional Assets; provided that, in the case of Asset Sales of Properties other than Non-Core Assets, the aggregate Net Cash Proceeds from all
such Asset Sales which may be reinvested does not exceed $25.0 million in the aggregate; provided further that if all or any portion of such Net Cash 

  
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Proceeds are not so used to reinvest in Additional Assets within 360 days (or such earlier date, if any, as the applicable Credit Party determines not to reinvest such Net Cash Proceeds as set
forth above), such remaining portion shall be applied on the last date of such period (or such earlier date, as the case may be) to the prepayment of Loans. The provisions of this Section 2.07(a) do not constitute a consent to any Disposition or the
incurrence of any Indebtedness by any Credit Party. 
 (b)    Each payment of Net Cash Proceeds pursuant to this
Section 2.07 shall be allocated to principal prepayment and the payment of the accrued but unpaid interest on the amount of prepaid principal through the date of such prepayment and the Applicable Premium on the amount of prepaid principal
required under Section 2.09. 
 (c)    The Borrower shall notify the Administrative Agent of any mandatory
prepayment pursuant to Section 2.07(a) or (b) in writing, not later than 12:00 noon, New York City time, two (2) Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date
and the principal amount of each Loan or portion thereof to be prepaid and a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the
contents thereof. 
 Section 2.08    Offer of Prepayment Upon any Change of Control. 

(a)    On the occurrence of any Change of Control, the Borrower shall provide written notice of such event to the
Administrative Agent and the Majority Lenders (a “Change of Control Notice”). Each Change of Control Notice will describe the transaction or transactions that constitute the Change of Control and will contain an offering to prepay
all, or any portion elected by each Lender, of the outstanding Loans as provided in Section 2.08(b) below. 

(b)    Notwithstanding anything in this Agreement to the contrary, each Lender, in its sole discretion, may, but is not
obligated to, waive the Borrower’s requirement to make any prepayments pursuant to this Section 2.08 with respect to such Lender’s Applicable Percentage of such prepayment and such waiver shall not require a separate waiver and/or
consent to this Agreement. Upon the dates set forth in this Section 2.08 for any such prepayment, the Borrower shall notify the Administrative Agent in writing of the amount that is available to prepay the Loans. Promptly after the date of
receipt of such notice, the Administrative Agent shall provide written notice (the “Offer”) to the Lenders of the amount available to prepay the Loans. Any Lender declining such prepayment (a “Declining Lender”)
shall give written notice (each, a “Rejection Notice”) thereof to the Administrative Agent by 2:00 p.m., New York City time, no later than three Business Days after the date of such notice from the Administrative Agent;
provided, that, if a Lender fails to deliver a Rejection Notice to the Administrative Agent within the time frame specified above, such failure will be deemed an acceptance of such Lender’s pro rata share of the Offer.
The Borrower shall prepay the Loans within one Business Day after its receipt of notice from the Administrative Agent of the aggregate amount of such prepayment. On such date, the Administrative Agent shall then provide written notice (the
“Second Offer”) to the Lenders other than the Declining Lenders (such Lenders, the “Accepting Lenders”) of the additional amount available (due to such Declining Lenders’ declining such prepayment) to prepay
Loans owing to such Accepting Lenders, with such available amount to be allocated on a pro rata basis among the Accepting Lenders that accept the Second Offer. Any Lenders declining prepayment pursuant to such Second Offer shall give written
notice thereof to the Administrative Agent by 2:00 p.m., New York City time, no later than three Business Days after the date of such notice of a Second Offer; provided, that, if a Lender fails to deliver a Rejection Notice
to the Administrative Agent within the time frame specified above, such failure will be deemed an acceptance of such Lender’s pro rata share of the Second Offer. The Borrower shall prepay the Loans within one Business Day after its
receipt of notice from the Administrative Agent of the aggregate amount of such prepayment. Amounts remaining after the allocation of accepted amounts with respect to the Second Offer to Accepting Lenders shall be retained by the Borrower. 

  
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 (c)    Each prepayment pursuant to Section 2.08(b) shall be accompanied by an
amount equal to the accrued but unpaid interest through the date of such prepayment, together with the amount required under Section 2.09(c). 

Section 2.09    Payment of Applicable Premium. 

(a)    Whether voluntary or mandatory, and with respect to each repayment or prepayment of Loans under Section 2.06 or
2.07 or any acceleration of the Loans and other Obligations pursuant to Article VIII (including for the avoidance of doubt, as a result of clauses (g), (h) or (i) of Article VIII), the Borrower shall pay to the Administrative Agent, for
the ratable benefit of the Lenders, with respect to the amount of the Loans repaid, prepaid or accelerated, in each case, concurrently with such repayment or prepayment the following amount (the “Applicable Premium”): 

(i)    if made prior to September 1, 2019, the Make-Whole Amount (as calculated by the Borrower and
confirmed by the Majority Lenders); 
 (ii)    if made on or after September 1, 2019 and before
March 1, 2020, a cash amount equal to the product of the principal amount of the Loans prepaid times 8.500%; 

(iii)    if made on or after March 1, 2020 and before March 1, 2021, a cash amount equal to the
product of the principal amount of the Loans prepaid times 4.250%; 
 (iv)    if made on or after
March 1, 2021 and before March 1, 2022, a cash amount equal to the product of the principal amount of the Loans prepaid times 2.125%; and 

(v)    if made on or after March 1, 2022, $0. 

(b)    Any Applicable Premium payable pursuant to this Section 2.09 shall be presumed to be the liquidated damages
sustained by each Lender as the result of the early redemption and/or acceleration of its Loans and the Borrower agrees that it is reasonable under the circumstances in view of the impracticability and extreme difficulty of ascertaining actual
damages and by mutual agreement of the parties as to a reasonable calculation of each Lender’s lost profits as a result thereof. 

(c)    With respect to each prepayment of Loans pursuant to Section 2.08, the Borrower shall pay to the
Administrative Agent, for the ratable benefit of the Lenders, with respect to the amount of the Loans prepaid, concurrently with such prepayment, a cash amount equal to 1% of the principal amount of the Loans to be prepaid. 

Section 2.10    Interest and Fees. 

(a)    Each Loan shall bear interest for each day on which it is outstanding at the Applicable Rate. 

(b)    Interest shall be payable in cash in arrears on each Interest Payment Date, on the Maturity Date and in the event
of any repayment or prepayment of any Loan, accrued interest on the principal amount repaid or prepaid shall be payable in cash on the date of such repayment or prepayment, provided that interest accruing pursuant to Section 2.10(c) shall be
payable from time to time on demand. 
 (c)    Notwithstanding the foregoing, upon the occurrence and during the
continuance of an Event of Default, the principal amount of all Loans and, to the extent permitted by applicable law, other Obligations outstanding shall thereafter bear interest, after as well as before judgment, at a rate per annum equal to 2%
plus the Applicable Rate. 

  
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 (d)    All interest hereunder shall be computed on the basis of a year of 365
or 366 days, as applicable, and shall be payable for the actual number of days elapsed (including the first day but excluding the last day) occurring in the period for which such interest or fees are payable. 

(e)    If any payment hereunder becomes due and payable on a day other than a Business Day, such payment shall be extended
to the next succeeding Business Day. In the case of any extension of any payment of principal pursuant to the preceding sentence, interest thereon shall be payable at the rate applicable during such extension period. 

(f)    The Borrower agrees to pay to the Administrative Agent, for its own account, the fees set forth in the Fee Letter
at the times and in the amounts specified therein. The fees payable to the Administrative Agent under the Fee Letter (i) will be in addition to reimbursement of the Administrative Agent’s out-of-pocket expenses in accordance with Section 10.03(a) and (ii) shall be fully earned when due and shall not be refundable for any reason whatsoever. 

Section 2.11    Increased Costs. 

(a)    If any Change in Law shall subject any Recipient to any Taxes (other than (i) Indemnified Taxes,
(ii) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (iii) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves,
other liabilities or capital attributable thereto and the result shall be to increase the cost to such Recipient of making, converting to, continuing or maintaining any Loan or maintaining its obligations to make any such Loan or to reduce the
amount of any sum received or receivable by such Recipient hereunder (whether of principal, interest or any other amount), then the Borrower will pay to such Recipient such additional amount or amounts as will compensate such Recipient for such
additional costs incurred or reduction suffered. 
 (b)    If any Lender determines that any Change in Law regarding
capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by such
Lender to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with
respect to capital adequacy and liquidity), then from time to time the Borrower will pay to such Lender, as the case may be, such additional amount or amounts as will compensate such Lender such Lender’s holding company for any such reduction
suffered. 
 (c)    A certificate of a Recipient setting forth the amount or amounts necessary to compensate such
Recipient or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower (with a copy to the Administrative Agent) and shall be conclusive absent manifest error. The
Borrower shall pay such Recipient the amount shown as due on any such certificate within 10 Business Days after receipt thereof. 

(d)    Failure or delay on the part of any Recipient to demand compensation pursuant to this Section shall not constitute
a waiver of such Recipient’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Recipient pursuant to this Section for any increased costs or reductions incurred more than 270 days prior
to the date that such Recipient notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Recipient’s intention to claim compensation therefor; provided further that, if the Change in
Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive effect thereof. 

  
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 Section 2.12    Taxes. 

(a)    Payments Free of Taxes. Any and all payments by or on account of any obligation of any Credit Party under any
Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or
withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental
Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Credit Party shall be increased as necessary so that after such deduction or withholding has been made (including such
deductions and withholdings of Indemnified Taxes applicable to additional sums payable under this Section 2.12) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.

 (b)    Payment of Other Taxes by the Borrower. The Credit Parties shall timely pay to the relevant
Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

(c)    Evidence of Payments. As soon as practicable after any payment of Taxes by any Credit Party to a
Governmental Authority pursuant to this Section 2.12, such Credit Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return
reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(d)    Indemnification by the Borrower. The Credit Parties shall jointly and severally indemnify each Recipient,
within 10 Business Days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to
be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive
absent manifest error. 
 (e)    Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent, within 10 Business Days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Credit Party has not already indemnified the Administrative Agent for such
Indemnified Taxes and without limiting the obligation of the Credit Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.04(c) relating to the maintenance of a Participant Register
and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or
not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source
against any amount due to the Administrative Agent under this paragraph (e). 
 (f)    Status of Lenders. 

(i)    Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to
payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the 

  
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Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without
withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the
Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in
the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 2.12(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable
judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

(ii)    Without limiting the generality of the foregoing, 

(A)    any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or
prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of IRS Form
W-9 certifying that such Lender is exempt from U.S. Federal backup withholding Tax; 

(B)    any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and
the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of
the Borrower or the Administrative Agent), whichever of the following is applicable: 
 (1)    in the
case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form
W-8BEN or IRS Form W-8BEN-E (or applicable successor form) establishing an exemption from, or reduction of, U.S. Federal
withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, executed copies of IRS Form W-8BEN or IRS
Form W-8BEN-E (or applicable successor form) establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the “business profits”
or “other income” article of such tax treaty; 
 (2)    executed copies of IRS Form W-8ECI; 
 (3)    in the case of a Foreign Lender claiming the benefits
of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit H-1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign corporation” described in Section
881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form
W-8BEN-E (or applicable successor form); or 

(4)    to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form
W-8BEN-E (or applicable successor form), a U.S. Tax Compliance Certificate substantially in the form of Exhibit H-2 or
Exhibit H-3, IRS Form W-9, and/or other 

  
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certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender
are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit H-4 on behalf of each such direct and indirect
partner; 
 (C)    any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to
the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
reasonable request of the Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. Federal withholding Tax, duly completed, together with
such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D)    if a payment made to a Recipient under any Loan Document would be subject to U.S. Federal
withholding Tax imposed by FATCA if such Recipient were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Recipient shall deliver to the
Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA
and to determine that such Recipient has complied with such Recipient’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any
amendments made to FATCA after the date of this Agreement. 
 Each Lender agrees that if any form or certification it previously delivered
expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(g)    Status of Administrative Agent. On or before the date on which Wilmington Trust, National Association (and
any successor or replacement Administrative Agent) becomes the Administrative Agent hereunder, it shall deliver to the Borrower two executed copies of either (i) IRS Form W-9, or (ii) IRS Form W-8ECI (with respect to any payments to be received on its own behalf) and IRS Form W-8IMY (for all other payments), establishing that the Borrower can make payments to the
Administrative Agent without deduction or withholding of any Taxes imposed by the United States, including Taxes imposed under FATCA. 

(h)    Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that
it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.12 (including by the payment of additional amounts pursuant to this Section 2.12), it shall pay to the indemnifying party an amount equal
to such refund (but only to the extent of indemnity payments made under this Section 2.12 with respect to the Taxes giving rise to such refund), net of all
out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect
to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (h) (plus any penalties, interest or other charges imposed by the relevant
Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental 

  
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Authority. Notwithstanding anything to the contrary in this paragraph (h), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph
(h) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted,
withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other
information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

(i)    FATCA. For purposes of determining withholding Taxes imposed under FATCA, from and after the effective date
of this Agreement, the Borrower and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) each Loan as not qualifying as a “grandfathered obligation” within the meaning of Treasury
Regulation Section 1.1471-2(b)(2)(i). 
 (j)    Survival. Each
party’s obligations under this Section 2.12 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment,
satisfaction or discharge of all obligations under any Loan Document. 
 Section 2.13    Payments Generally;
Pro Rata Treatment; Sharing of Set-offs. 
 (a)    The Borrower shall
make each payment required to be made by it hereunder (whether of principal, interest, fees, or of amounts payable under Section 2.11 or Section 2.12, or otherwise) prior to 2:00 p.m. New York City Time on the date when due, in immediately
available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at such account as may be specified by the Administrative Agent, except that payments pursuant to Section 2.11,
Section 2.12 and Section 10.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly
following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon
shall be payable for the period of such extension. All payments hereunder shall be made in Dollars. 
 (b)    If at any
time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, interest, premiums and fees then due hereunder, such funds shall be applied (i) first, towards payment of fees then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of fees then due to such parties, (ii) second, towards payment of interest and premiums then due hereunder, ratably among the parties entitled thereto in
accordance with the amounts of interest and premiums then due to such parties and (iii) third, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal then due to
such parties. 
 (c)    If any Lender shall, by exercising any right of set-off
or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest thereon than the
proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be
shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans; provided that (i) if any such participations are purchased and all or any portion of the payment giving
rise thereto is recovered, such participations shall be 

  
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rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by
the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant, other than
to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct
creditor of the Borrower in the amount of such participation. 
 (d)    Unless the Administrative Agent shall have
received written notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the
Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders
severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment
to the Administrative Agent, at the Federal Funds Effective Rate. 
 (e)    If any Lender shall fail to make any payment
required to be made by it pursuant to Section 2.04(b), Section 2.12(d) or Section 10.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter received by the
Administrative Agent for the account of such Lender for the benefit of the Administrative Agent to satisfy such Lender’s obligations to it under such Sections until all such unsatisfied obligations are fully paid, and/or (ii) hold any such
amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender under any such Section, in the case of each of clauses (i) and (ii) above, in any order as determined by the
Administrative Agent in its discretion. 
 ARTICLE III. 

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Administrative Agent and the Lenders that: 

Section 3.01    Organization; Powers. Each Credit Party is duly organized, validly existing and in good
standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required. 

Section 3.02    Authorization; Enforceability. The Transactions are within each Credit Party’s
corporate, limited liability company or partnership powers and have been duly authorized by all necessary corporate, limited liability company or partnership and, if required, actions by equity holders. This Agreement has been duly executed and
delivered by each Credit Party and constitutes a legal, valid and binding obligation of each Credit Party, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

Section 3.03    Governmental Approvals; No Conflicts. The Transactions (a) do not require any
consent or approval of, registration or filing with, or any other action by, any Governmental Authority, 

  
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except such as have been obtained or made and are in full force and effect or have been made or to be made in connection with the filing of any Security Documents, financing statements, or other
registrations or filings to secure the Obligations, (b) will not violate any Requirement of Law applicable to the Borrower or any Subsidiary, (c) will not violate or result in a default under any indenture, agreement or other instrument
evidencing Material Indebtedness, or give rise to a right thereunder to require any payment to be made by the Borrower or any Subsidiary, and (d) will not result in the creation or imposition of any Lien on any asset of the Borrower or any
Subsidiary not otherwise permitted under Section 6.03. 
 Section 3.04    Financial Condition; No
Material Adverse Change. 
 (a)    The Borrower has heretofore furnished to the Administrative Agent and the
Lenders (i) the audited consolidated balance sheet and related statements of income, stockholders equity and cash flows of the Borrower and its Consolidated Subsidiaries as of and for the fiscal year ended December 31, 2015, reported on by
BDO USA, LLP, independent public accountants and (ii) the unaudited consolidated balance sheet and related statements of income, stockholders equity and cash flows of the Borrower and its Consolidated Subsidiaries as of and for the fiscal
quarter ended September 30, 2016. Such financial statements, together with any notes and management discussions related to such financials appearing in the Borrower’s Form 10-K filed with the SEC on
March 10, 2016 and the Borrower’s Form 10-Q filed with the SEC on November 3, 2016 present fairly, in all material respects, the financial position and results of operations and cash flows of
the Borrower and its Consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP and, except as set forth on Schedule 3.04, show all material indebtedness and other liabilities, direct or contingent, of the
Borrower and its Consolidated Subsidiaries as of the date thereof, including material commitments and Indebtedness. 

(b)    Since September 30, 2016, no event or circumstance which has had or could reasonably be expected to have a
Material Adverse Effect has occurred. 
 Section 3.05    Properties. 

(a)    Except as otherwise provided in 3.05(c) with respect to Oil and Gas Property the Borrower and each Subsidiary has
good title to, or valid leasehold interests in, all its real and personal property material to its business, except for (i) minor defects in title that do not, in the aggregate, interfere with its ability to conduct its business as currently
conducted and (ii) Liens permitted under Section 6.03. 
 (b)    The Borrower and each Subsidiary owns, or is
licensed to use, all trademarks, tradenames, copyrights, patents and other intellectual property material to its business, and the use thereof by the Borrower and such Subsidiaries, as the case may be, does not infringe upon the rights of any other
Person, except for any such infringements that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(c)    Each Credit Party has good and defensible title to all Proved Reserves included in the Oil and Gas Property
described in the most recent Reserve Report provided to the Administrative Agent and the Majority Lenders (other than such Proved Reserves that have been subsequently disposed of and disclosed on Schedule 3.19), free and clear of all Liens
except Liens permitted under Section 6.03. All such proved Oil and Gas Property are valid, subsisting, and in full force and effect in all material respects, and all rentals, royalties, and other amounts due and payable in respect thereof have
been duly paid except for such rentals, royalties and other amounts that are amounts being contested in good faith by appropriate proceedings and for which the Borrower or the applicable Subsidiary has set aside on its books adequate reserves, or
except to the extent such rentals, royalties and other amounts due, if left unpaid, would not result in the loss or forfeiture of Oil and Gas Property having an aggregate fair market value in excess of $5,000,000. Without regard to any consent or non-consent provisions of any joint operating agreement covering any Credit Party’s proved Oil and Gas Property, such Credit Party’s share of (a) the costs for the proved Oil and Gas Property

  
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described in the Reserve Report (other than for such proved Oil and Gas Property that have been subsequently disposed of and disclosed on Schedule 3.19) is not materially greater than the
decimal fraction set forth in the Reserve Report, before and after payout, as the case may be, and described therein by the respective designations “working interests,” “WI,” “gross working interest,” “GWI,”
or similar terms (except in such cases where there is a corresponding increase in the net revenue interest), and (b) production from, allocated to, or attributed to such proved Oil and Gas Property is not materially less than the decimal
fraction set forth in the Reserve Report, before and after payout, as the case may be, and described therein by the designations “net revenue interest,” “NRI,” or similar terms. The wells drilled in respect of proved producing
Oil and Gas Property described in the Reserve Report (other than wells drilled in respect of such proved producing Oil and Gas Property that have been subsequently disposed of and disclosed on Schedule 3.19) (1) are capable of, and are
presently, either producing Hydrocarbons in commercially profitable quantities or in the process of being worked over or enhanced, and the Credit Party that owns such proved producing Oil and Gas Property is currently receiving payments for its
share of production, with no funds in respect of any thereof being presently held in suspense, other than any such funds being held in suspense pending delivery of appropriate division orders, (2) have been drilled, bottomed, completed, and
operated in compliance with all applicable laws, and (3) are not subject to any penalty in production by reason of such well having produced in excess of its allowable production; except where any failure to comply with clauses (2) or (3)
would not have a Material Adverse Effect. 
 (d)    No Credit Party has knowledge that a default exists under any of the
terms or provisions, express or implied, of any of the leases and term mineral interests in the Oil and Gas Properties evaluated in the most recently delivered Reserve Report (other than any thereof Disposed of in a Disposition permitted by this
Agreement) or under any agreement to which the same are subject that would materially and adversely affect the rights of the Credit Parties with respect to the Oil and Gas Properties to which such lease, interest, or agreement relates. 

(e)    Except as otherwise permitted hereunder, there are no obligations under any Oil and Gas Property or contract or
agreement which require the drilling of additional wells or operations to earn or to continue to hold any of the Oil and Gas Properties in force and effect, except leases in the primary term and those under customary continuous operations provisions
that may be found in one or more of the Borrower’s or any Subsidiaries oil and gas and/or oil, gas and mineral leases. 

(f)    To the extent required hereunder, all material necessary regulatory filings have been properly made in connection
with the drilling, completion and operation of the wells on or attributable to the Oil and Gas Properties and all other operations related thereto. 

(g)    To the extent required hereunder, all production and sales of Hydrocarbons produced or sold from the Oil and Gas
Properties have been made materially in accordance with any applicable allowables (plus permitted tolerances) imposed by any Governmental Authorities except for where the failure to so comply could not reasonably be expected to result in a Material
Adverse Effect. 
 (h)    No Credit Party has collected any proceeds from the sale of Hydrocarbons produced from the Oil
and Gas Properties which are subject to any material refund obligation except for where the failure to so comply could not reasonably be expected to result in a Material Adverse Effect. 

(i)    The Mortgaged Properties, together with any Drillco Excluded Property listed on Schedule 1.01(b) and the
Subject Leases listed on Schedule 1.01(c) constitute all of the Hydrocarbon Interests owned by the Credit Parties as of the Effective Date. 

  
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 Section 3.06    Litigation and Environmental Matters. 

(a)    There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or,
to the knowledge of the Borrower, threatened against or affecting the Borrower or any Subsidiary, (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect after taking into account insurance proceeds or other recoveries from third parties actually received (other than the Disclosed Matters) or (ii) that involve this
Agreement or the Transactions. 
 (b)    Except for the Disclosed Matters and except with respect to any other matters
that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect after taking into account insurance proceeds or other recoveries from third parties actually received, neither the Borrower nor any
Subsidiary, to the Borrower’s knowledge, (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to
any Environmental Liability, (iii) has received written notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any claim with respect to any Environmental Liability. 

Section 3.07    Compliance with Laws and Agreements. The Borrower and each Subsidiary is in compliance
with all Requirements of Law applicable to it or its property, its Organizational Documents and all indentures, agreements and other instruments binding upon it or its property, except in each case where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is continuing. 

Section 3.08    Investment Company Status. Neither the Borrower nor any Subsidiary is an
“investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 

Section 3.09    Taxes. The Borrower and each Subsidiary has timely filed or caused to be filed all Tax
returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which the Borrower or such
Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. 

Section 3.10    ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken
together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. The present value of all accumulated benefit obligations under each Plan (based on
the assumptions used for purposes of FASB Statement 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan by an amount that could reasonably be
expected to result in Material Adverse Effect, and the present value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of FASB Statement 87) did not, as of the date of the most recent
financial statements reflecting such amounts, exceed the fair market value of the assets of all such underfunded Plans by an amount that could reasonably be expected to result in Material Adverse Effect. 

Section 3.11    Disclosure. The Borrower has disclosed to the Administrative Agent and the Lenders all
agreements, instruments and corporate or other restrictions to which it or any Subsidiary is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect.
None of the other reports, financial statements, certificates or other information furnished by or on behalf of the Borrower or any Subsidiary to the Administrative Agent or any Lender in connection with the negotiation of this Agreement or
delivered hereunder (as modified or supplemented by other information so furnished) when taken as a whole contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading as of the date made or deemed made; provided 

  
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that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith based on assumptions believed to be reasonable at the time
and, if such projected financial information was delivered prior to the Effective Date, as of the Effective Date. 

Section 3.12    Labor Matters. There are no strikes, lockouts or slowdowns against the Borrower or any
of its Subsidiaries pending or, to the knowledge of the Borrower, threatened that could reasonably be expected to have a Material Adverse Effect. The hours worked by and payments made to employees of the Borrower and, to the knowledge of the
Borrower, to employees of its Subsidiaries have not been in violation of the Fair Labor Standards Act or any other Law dealing with such matters to the extent that such violation could reasonably be expected to have a Material Adverse Effect. 

Section 3.13    Capitalization. Schedule 3.13 lists as of the Effective Date, (a) for the
Borrower and each Subsidiary, its full legal name and its jurisdiction of organization and (b) for each Subsidiary, the number of shares of capital stock or other Capital Stock outstanding and the owner(s) of such shares or Capital Stock. 

Section 3.14    Margin Stock. Neither the Borrower nor any Subsidiary is engaged principally, or as one
of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board), and no part of the proceeds of the Loans will be used to purchase or
carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock. 

Section 3.15    Bank Accounts. Schedule 3.15 lists all accounts maintained by or for the benefit
of any Credit Party with any bank or financial institution. 
 Section 3.16    Insurance. Customary
insurance certificates have been furnished by the Borrower to the Administrative Agent and the Lenders as of the Effective Date demonstrating the Borrower’s and the Subsidiaries’ compliance with Section 5.05(b). 

Section 3.17    Material Contracts. Schedule 3.17 contains a complete and accurate list of each
contract, agreement or commitment, whether oral or written, to which any Credit Party is a party or by which it is bound, and which are currently effective, that are: (i) non-competition agreements or
other agreements or obligations that purport to limit in any material respect the manner in which, or the localities in which, all or any material portion of any Credit Party’s business is conducted; (ii) contracts with one year or greater
remaining duration, or that cannot be canceled on 90 days’ notice or less; (iii) agreements for the borrowing of money; (iv) employment agreements, consulting agreements or other contract for services involving a payment of more than
$500,000 annually; (v) leases with respect to any property, real or personal (other than leases constituting Mortgaged Properties); (vi) Production Payments or Advance Payment Contracts; (vii) agreements for a purchase or sale of assets,
securities or a business, or otherwise obligating any Credit Party to pay any consideration of more than $500,000; (viii) agreements with any agent, dealer or distributor, including all such agreements relating to the gathering and/or marketing of
Hydrocarbons; (ix) stand-by letters of credit, guarantee or performance bond; (x) agreements not made in the ordinary course of business; and (xi) material contracts to which any Credit Party is
a party that would terminate or become terminable, require any Credit Party to take any action, cause any Credit Party to lose any material benefits or give to others any rights of amendment, acceleration, suspension, revocation or cancellation,
under any such contract as a result of the transactions contemplated in this Agreement (each of the foregoing, a “Material Contract”). 

Section 3.18    Gas Imbalances. Except as set forth in Schedule 3.18, on a net basis there are
no Gas Imbalances, take or pay or other prepayments with respect to any Oil and Gas Properties which would require any Credit Party to deliver Hydrocarbons produced from such Oil and Gas Properties at some future time without then or thereafter
receiving full payment therefor other than that which do not result in any Credit Party or any Subsidiary having net aggregate liability in excess of $5,000,000. 

  
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 Section 3.19    Reserve Reports. To Borrower’s
knowledge, (i) the assumptions stated or used in the preparation of each Reserve Report are reasonable (it being understood by Administrative Agent and the Lenders that assumptions as to future results are subject to uncertainty and that no
assurance can be given that any particular projections will be realized to the extent beyond any Credit Party’s control), (ii) all information furnished by any Credit Party to the Petroleum Engineers for use in the preparation of each Reserve
Report was accurate in all material respects at the time furnished or was subsequently corrected, (iii) except as set forth on Schedule 3.19, there has been no decrease in the amount of the estimated Proved Reserves shown in any Reserve
Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (iv) at the time furnished, no Reserve Report omitted any statement or information necessary to cause the
same not to be misleading to Administrative Agent and the Lenders in any material respect. 

Section 3.20    Sale of Production. No Oil and Gas Property is subject to any Advance Payment Contract
or any contract whereby payments are made to any Credit Party other than by checks, drafts, wire transfer advices or other similar writings, instruments or communications for the immediate payment of money. Except for production sales contracts,
processing agreements, transportation agreements and other agreements relating to the marketing of production that are listed on Schedule 3.20 in connection with the Oil and Gas Properties to which such contract or agreement relates:
(i) no Oil and Gas Property is subject to any contractual or other arrangement for the sale, processing or transportation of production (or otherwise related to the marketing of production) which cannot be canceled on one year’s (or fewer)
notice, other than as consented to by the Majority Lenders, and (ii) all contractual or other arrangements for the sale, processing or transportation of production (or otherwise related to the marketing of production) are bona fide arm’s
length transactions made on the best terms available with third parties not affiliated with any Credit Party. Each Credit Party is presently receiving a price for all production from (or attributable to) each Oil and Gas Property covered by a
production sales contract or marketing contract listed on Schedule 3.20 that is computed in accordance with the terms of such contract, and no Credit Party is having deliveries of production from such Oil and Gas Property curtailed
substantially below such Property’s delivery capacity. 
 Section 3.21    Anti-Corruption Laws and
Sanctions. The Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws
and applicable Sanctions, and the Borrower, its Subsidiaries and their respective officers and employees and to the knowledge of the Borrower its directors and agents insofar as the same are acting on behalf of the Borrower or its Subsidiaries,
(i) are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects and (ii) have not and will not do business, enter into transactions or store with, purchase or receive money from, transport from, to or
with, sell goods or give money to, a Sanctioned Person. None of (a) the Borrower, any Subsidiary or any of their respective directors, officers or employees, or (b) to the knowledge of the Borrower, any agent of the Borrower or any
Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. The making of the Loans, use of proceeds thereof or
other transaction contemplated by the Credit Agreement will not violate Anti-Corruption Laws or applicable Sanctions. 

Section 3.22    No Foreign Operations. The Borrower and its Subsidiaries do not operate their business
outside the geographical boundaries of the United States. 
 Section 3.23    Solvency. Before and
after giving effect to the making of Loans and the application of the proceeds hereof, the Credit Parties, taken as a whole, are Solvent. 

  
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 ARTICLE IV. 

CONDITIONS 

Section 4.01    Effective Date. This Agreement shall become effective on the date on which each of the
following conditions is satisfied or waived in accordance with Section 10.02 (such date, the “Effective Date”): 

(a)    The Collateral Agent and the Lead Lender shall have received the Master Assignment, duly executed and delivered by
the Existing Administrative Agent and the Existing Lenders, which assignment shall be in form and substance acceptable to the Lead Lender (with such changes thereto as may be reasonably requested by the Collateral Agent). 

(b)    The Administrative Agent and the Majority Lenders shall have received from each party hereto either a
counterpart of this Agreement signed on behalf of such party or written evidence satisfactory to the Administrative Agent and the Majority Lenders (which may include electronic transmission of a signed signature page of this Agreement) that such
party has signed a counterpart of this Agreement. 
 (c)    The Administrative Agent and the Majority Lenders shall have
received (i) schedules to this Agreement in form and substance satisfactory to the Administrative Agent and the Majority Lenders, (ii) the Security Agreement, together with such other assignments, conveyances, amendments, agreements and
other writings, including, without limitation, UCC-1 financing statements, necessary to create first priority Liens, subject in priority only to Permitted Prior Liens, in all of the Collateral in which a
security interest is required to be granted in favor of the Administrative Agent pursuant to the Security Documents, including all of the Capital Stock of each Subsidiary now or hereafter owned by Borrower or any Subsidiary and (iii) a Mortgage
covering each of the Mortgaged Properties. 
 (d)    The Administrative Agent and the Majority Lenders shall have
received (i) a certificate of each Credit Party, dated the Effective Date and executed by its Secretary or Assistant Secretary or a Responsible Officer of such Credit Party, which shall (A) certify the resolutions of its board of
directors, members or other body authorizing the execution, delivery and performance of the Loan Documents to which it is a party, (B) identify by name and title and bear the signatures of the officers of such Credit Party authorized to sign
the Loan Documents to which it is a party, and (C) contain appropriate attachments, including the certificate of formation or articles of incorporation or organization of such Credit Party certified by the relevant authority of the jurisdiction
of organization of such Credit Party and a true and correct copy of its by-laws or operating, management or partnership agreement and (ii) a good standing certificate for each Credit Party from its
jurisdiction of organization, 
 (e)    The Administrative Agent and the Majority Lenders shall have received, and the
Borrower shall have requested, a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of each of Vinson & Elkins, LLP, counsel for the Credit Parties, and Hall, Estill, Hardwick,
Gable, Golden & Nelson, P.C., special Oklahoma counsel for the Credit Parties, in each covering such matters relating to the Credit Parties, this Agreement or the Transactions as the Majority Lenders shall reasonably request. 

(f)     The Administrative Agent and the Majority Lenders shall have received (i) a certificate, dated the Effective
Date and signed by a Responsible Officer of the Borrower, confirming that the Credit Parties have (A) complied with the conditions set forth in paragraphs (h), (i), (o) and (p) of this Section 4.01 and (B) complied with the
requirements of Section 5.10 and Section 5.11 and (ii) customary insurance certificates issued by the insurance agent or broker of the Borrower demonstrating compliance with Section 5.50(b). 

  
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 (g)    The Administrative Agent and the Majority Lenders shall have received
such financing statements (including, without limitation, the financing statements referenced in clause (f) above) as the Majority Lenders shall specify to fully evidence and perfect all Liens contemplated by the Loan Documents, all of which
shall be filed of record by Majority Lenders in such jurisdictions as the Majority Lenders shall require in its sole discretion. 

(h)    Each Credit Party shall have obtained all approvals required from any Governmental Authority and all consents
of other Persons, in each case that are necessary or, in the reasonable discretion of the Majority Lenders, advisable in connection with the Transactions and each of the foregoing shall be in full force and effect and in form and substance
reasonably satisfactory to the Majority Lenders. All applicable waiting periods shall have expired without any action being taken or threatened by any competent authority which would restrain, prevent or otherwise impose adverse conditions on the
transactions contemplated by the Loan Documents or the financing thereof and no action, request for stay, petition for review or rehearing, reconsideration, or appeal with respect to any of the foregoing shall be pending, and the time for any
applicable agency to take action to set aside its consent on its own motion shall have expired. 
 (i)    There shall
not exist any action, suit, investigation, litigation or proceeding or other legal or regulatory developments, pending or threatened in any court or before any arbitrator or Governmental Authority that, in the reasonable opinion of the Majority
Lenders, singly or in the aggregate, materially impairs the Transactions, the financing thereof or any of the other transactions contemplated by the Loan Documents or that could reasonably be expected to result in a Material Adverse Effect. 

(j)    All partnership, corporate and other proceedings taken or to be taken in connection with the Transactions and all
documents incidental thereto shall be reasonably satisfactory in form and substance to the Majority Lenders and their counsel, and Majority Lenders and such counsel shall have received all such certified copies of such documents as Majority Lenders
may reasonably request. 
 (k)    The Administrative Agent and the Lenders shall have received the Projections, the
operating budget for fiscal year 2017 and all of the financial statements described in Section 3.04(a). 
 (l)    The
Administrative Agent and the Lead Lender shall have received a true and correct copies of each of the Securities Purchase Agreement and the Convertible Indenture, in each case duly executed by the Borrower and the Subsidiaries party thereto; and all
other conditions precedent under the Securities Purchase Agreement to the issuance and sale of the Common Stock and the Convertible Notes on the Effective Date (other than the execution and delivery of this Agreement and the concurrent advancement
of Loans hereunder) shall have been satisfied or waived in accordance with the terms of the Securities Purchase Agreement. 

(m)    The Administrative Agent and the Majority Lenders shall have received a true and complete copy of the Reserve
Report most recently delivered to the Existing Administrative Agent. 
 (n)    The Administrative Agent and the Majority
Lenders shall have received such other instruments and documents incidental and appropriate to the transactions provided for herein as the Majority Lenders or their special counsel may reasonably request prior to the Effective Date, and all such
documents shall be in form and substance satisfactory to the Majority Lenders. 
 (o)    The representations and
warranties of each Credit Party set forth in this Agreement and the other Loan Documents shall be true and correct in all material respects on and as of the Effective Date (other than those representations and warranties that are subject to a
materiality qualifier, in which case such representations and warranties shall be true and correct in all respects), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be
true and correct in all material respects as of such earlier date (other than those representations and warranties that are subject to a materiality qualifier, in which case such representations and warranties are true and correct in all respects as
of such earlier date). 

  
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 (p)    No Default shall have occurred and be continuing. 

(q)    The Administrative Agent shall have received, at least five Business Days prior to the Effective Date (or such
shorter period as agreed to by the Administrative Agent in its sole discretion), all documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including the Act, that is requested by the Administrative Agent or any Lender in writing at least five Business Days prior to the Effective Date. 

(r)    The Administrative Agent and the Majority Lenders shall have received a Borrowing Request acceptable to the
Administrative Agent and the Majority Lenders and in accordance with Section 2.03 setting forth the amount of the Loans requested by the Borrower on the Effective Date and the accounts to which such Loans are to be funded. 

(s)    The Majority Lenders shall have received evidence that arrangements have been made for two directors, officers or
other representatives designated by Ares reasonably acceptable to the Majority Lenders to be appointed as members of the board of directors of the Borrower. 

(t)    The Administrative Agent and the Lenders shall have received all fees and other amounts due and payable on the
Effective Date under this Agreement, and reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder, including
all reasonable fees, expenses and disbursements of counsel for the Administrative Agent and Majority Lenders to the extent invoiced on or prior to the Effective Date, together with such additional amounts as shall constitute such counsel’s
reasonable estimate of expenses and disbursements to be incurred by such counsel in connection with the recording and filing of Mortgages (and/or Mortgage amendments) and financing statements; provided, that, such estimate shall not
thereafter preclude further settling of accounts between the Borrower and the Administrative Agent. The Administrative Agent shall have received a fully executed copy of the Fee Letter. 

(u)    Each Lender that has requested the delivery of a promissory note pursuant to and in accordance with Section 2.05(e)
shall have received promissory notes duly executed by the Borrower. 
 The Majority Lenders shall notify the Administrative Agent of the
Effective Date and such notice shall be conclusive and binding. Notwithstanding the foregoing, at the option of the Lenders, their respective obligations to make Loans hereunder shall not become effective unless each of the foregoing conditions
is satisfied (or waived pursuant to Section 10.02) at or prior to 2:00 p.m., New York City time, on March 15, 2017 (and, in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time). Without
limiting the generality of the provisions of Article IX, for purposes of determining compliance with the conditions specified in this Article IV, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted
or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received written notice from such Lender prior to the
proposed Effective Date specifying its objection thereto. 

  
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 ARTICLE V. 

AFFIRMATIVE COVENANTS 

Until the Obligations (other than contingent indemnification obligations for which no claim has been asserted) shall have been paid in full,
the Borrower covenants and agrees with the Administrative Agent and the Lenders that: 

Section 5.01    Financial Statements; Other Information. The Borrower will furnish to the
Administrative Agent for distribution to each Lender: 
 (a)    within 90 days after the end of each fiscal year of the
Borrower, the audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows of the Borrower and its Consolidated Subsidiaries as of the end of and for such year, setting forth in each case in
comparative form the figures for the previous fiscal year, all reported on by BDO USA, LLP or other independent public accountants reasonably acceptable to the Majority Lenders (without a “going concern” or like qualification or exception
and without any qualification or exception as to the scope of such audit other than a “going concern” qualification solely as to the Maturity Date occurring within the 12-month period following the
date of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and its Consolidated Subsidiaries on a consolidated basis in
accordance with GAAP consistently applied; 
 (b)    within 60 days after the end of each fiscal quarter of the
Borrower, the consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows of the Borrower and its Consolidated Subsidiaries as of the end of and for such fiscal quarter and the then elapsed portion of
the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial Officers
as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its Consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 
 (c)    within three
Business Days following the delivery of any financial statements under clause (a) or (b) above, a certificate in a form reasonably acceptable to Majority Lenders signed by a Financial Officer of the Borrower certifying as to whether a
Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto; 

(d)    concurrently with the delivery of financial statements under clause (a) or (b) above, notice of the date
and time of a conference call with Lenders to discuss financial information, which conference calls the Borrower shall host not later than five Business Days after such distribution; provided that any conference call hosted by the Borrower
which is generally available to holders of its debt and/or equity securities shall satisfy this condition; 

(e)    within 60 days after the conclusion of each fiscal year, the Borrower’s annual operating and capital
expenditure budgets, and financial forecasts, including cash flow projections covering proposed fundings, repayments, additional advances, investments and other cash receipts and disbursements, each for the following fiscal year in a format
reasonably consistent with projections, budgets and forecasts theretofore provided to the Administrative Agent and the Lenders, and promptly following the preparation thereof, material updates to any of the foregoing from time to time prepared by
management of the Borrower; 
 (f)    promptly after the same become publicly available, copies of all periodic and
other reports, proxy statements and other materials filed by the Borrower or any Subsidiary with the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national
securities exchange, or distributed by the Borrower to its shareholders generally, as the case may be; 

  
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 (g)    within 45 days following June 30th of each year and within 90 days following December 31st of each year, the Borrower shall furnish or make available to the Administrative Agent
and each Lender (i) a Reserve Report in form and substance satisfactory to the Majority Lenders in their reasonable discretion and prepared as of the immediately preceding June 30th or
December 31st, as applicable, which Reserve Report, in the case of each December 31 report shall be prepared or audited by an Approved Petroleum Engineer and in the case of each other Reserve
Report shall be prepared by one or more petroleum engineers employed by the Borrower or, at the Borrower’s election, by an Approved Petroleum Engineer; said Reserve Report to utilize economic and pricing parameters consistent with those set
forth in the definition of Reserve Report, together with a Reserve Report Certificate; 
 (h)    together with each
Reserve Report required to be delivered under Section 5.01(g), a report, in reasonable detail, setting forth (i) the Swap Agreements then in effect, the notional volumes of and prices for, on a monthly basis and in the aggregate, the
Hydrocarbons for each such Swap Agreement and the term of each such Swap Agreement, (ii) the notional volumes of Hydrocarbons for each such Swap Agreement and (iii) a list of the customers comprising 80% of the Hydrocarbons (by value)
being purchased from the Borrower or any Subsidiary in the six month period prior to the “as of” date of the most recently delivered Reserve Report or Reserve Report, as applicable; and 

(i)    together with each Reserve Report delivered under Section 5.01(g) for the period ending June 30th and December 31st of each year, (i) any updated production history of the Proved Reserves of the Credit Parties as of such date,
(ii) the lease operating expenses attributable to the Oil and Gas Properties of the Credit Parties for the prior 12-month period ending on the effective date of the applicable Reserve Report, and
(iii) any other information as to the operations of Borrower and its Subsidiaries as reasonably requested by Administrative Agent; 

(j)    promptly following any request therefor, such other information regarding the operations, business affairs and
financial condition of the Borrower or any Subsidiary, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender may reasonably request. 

Documents required to be delivered pursuant to this Section 5.01 (to the extent any such documents are included in materials otherwise
filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (1) on which the Borrower posts such documents, or provides a link thereto, on the Borrower’s website on the
Internet at www.gastar.com, or (2) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party
website or whether sponsored by the Administrative Agent); provided that: (i) upon request, the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender until a written request to cease delivering
paper copies is given by the Administrative Agent or such Lender and (ii) the Borrower shall notify the Administrative Agent (by electronic mail) and, upon request, each Lender (by electronic mail) of the posting of any such documents and, upon
request, provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents
referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such
documents. 

  
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 Section 5.02    Notices of Material Events. The Borrower
will furnish to the Administrative Agent and each Lender prompt written notice of the following: 
 (a)    as soon as
possible, but in any event within 5 days of obtaining knowledge thereof, (i) the occurrence of any Default, (ii) the occurrence of any “default” or “event of default” under any Material Indebtedness or (iii) the
occurrence of any default under the DrillCo Operating Agreement; 
 (b)    as soon as possible, but in any event within
20 days after obtaining knowledge of the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or affecting any Credit Party or any Affiliate thereof that, if adversely determined,
could reasonably be expected to result in a Material Adverse Effect; 
 (c)    as soon as possible, but in any event
within 20 days after the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; 

(d)    as soon as possible, but in any event within 20 days after obtaining knowledge of any release by any Credit Party,
or any other Person of any Hazardous Material into the environment, which could reasonably be expected to have a Material Adverse Effect; 

(e)    as soon as possible, but in any event within 20 days after any notice alleging any violation of any Environmental
Law by any Credit Party or any other Environmental Liability, which could reasonably be expected to have a Material Adverse Effect; 

(f)    as soon as possible, but in any event within 20 days after the occurrence of any breach or default under, or
repudiation or termination of, any Material Sales Contract, which could reasonably be expected to have a Material Adverse Effect; and 

(g)    as soon as possible, but in any event within five days after becoming aware of any other development that results
in, or could reasonably be expected to result in, a Material Adverse Effect. 
 (h)    within three days after the date
on which any Credit Party provides written notice to the DrillCo Investor that an Initial Reversion Date (as defined in the DrillCo Agreement) or Final Reversion Date (as defined in the DrillCo Agreement) has occurred, the Borrower shall provide a
copy of such notice to the Administrative Agent and the Lenders. Within three Business Days of any Credit Party receiving a Wellbore Assignment from the DrillCo Investor covering an Initial Reversionary Share (as defined in the DrillCo Agreement) or
a Final Reversionary Share (as defined in the DrillCo Agreement), the Borrower shall notify the Administrative Agent of the same. 
 To the
extent applicable, each notice delivered under this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to
be taken with respect thereto. 
 Section 5.03    Existence; Conduct of Business. The Borrower will,
and will cause each Subsidiary to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its
business; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.04 or any Disposition permitted under Section 6.05 nor shall the Borrower or any Subsidiary be
required to preserve any right or franchise unrelated to the Oil and Gas Property if the Borrower or such Subsidiary determines that the preservation thereof is no longer desirable in the conduct of its business and that the loss thereof is not
adverse in any material respect to the Administrative Agent or any Lender. 
 Section 5.04    Payment of
Obligations. The Borrower will, and will cause each Subsidiary to, pay its obligations, including Tax liabilities, before the same shall become delinquent or in default, except 

  
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where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings and the Borrower or such Subsidiary, as applicable, has set aside on its books adequate
reserves with respect thereto in accordance with GAAP, or (b) the failure to make such payment could not reasonably be expected to result in a Material Adverse Effect. 

Section 5.05    Maintenance of Properties; Insurance. The Borrower will, and will cause each Subsidiary
and use commercially reasonable efforts to cause each operator of Oil and Gas Property: 
 (a)    keep and maintain all
property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and 

(b)    maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such
risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations. Upon request of the Administrative Agent, the Borrower will furnish or cause to be furnished to the Administrative
Agent from time to time a summary of the respective insurance coverage of the Borrower and its Subsidiaries in form and substance reasonably satisfactory to the Majority Lenders, and, if requested, will furnish the Administrative Agent copies of the
applicable policies. Upon demand by the Administrative Agent, the Borrower will cause any insurance policies covering any such property to be endorsed (a) to provide that such policies may not be cancelled, reduced or affected in any manner for
any reason without 30 days’ prior notice to the Administrative Agent, (b) to include the Administrative Agent as loss payee with respect to all property/casualty policies and additional insured with respect to all liability policies and
(c) to provide for such other matters as the Lenders may reasonably require. 
 Section 5.06    Books
and Records; Inspection Rights. The Borrower will, and will cause each Subsidiary to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and
activities. The Borrower will, and will cause each Subsidiary to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from
its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably requested. 

Section 5.07    Compliance with Laws. The Borrower will, and will cause each Subsidiary to, comply with
all Requirements of Law (including Environmental Laws) applicable to it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

Section 5.08    Environmental Matters. If an Event of Default is continuing or if the Administrative
Agent at any time has a reasonable basis to believe that there exists a violation of any Environmental Law by the Borrower or any Subsidiary or that there exists any other Environmental Liabilities that would in either case reasonably be expected to
result in a Material Adverse Effect, then Borrower and each relevant Subsidiary shall, promptly upon the receipt of a request from the Administrative Agent, cause the performance of, or allow the Administrative Agent (or its designee) access to the
real property for the purpose of conducting, an environmental assessment, including subsurface sampling of soil and groundwater, and cause the preparation of a report. Such assessments and reports, to the extent not conducted by the Administrative
Agent (or its designee), shall be conducted and prepared by a reputable environmental consulting firm acceptable to the Majority Lenders and shall be in form and substance acceptable to the Majority Lenders. Borrower shall be responsible for (and
reimburse the Administrative Agent for) all costs associated with any such assessments and reports. 

Section 5.09    Use of Proceeds. The proceeds of the Loans will be used only to (a) pay the fees,
expenses and transaction costs of the Transactions, (b) repay Indebtedness outstanding under the Existing 

  
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Credit Agreement, (c) redeem the Existing Notes and (d) finance the working capital needs of the Borrower, including capital expenditures, and for general corporate purposes of the
Borrower and the Guarantors, in the ordinary course of business, including the exploration, acquisition and development of Oil and Gas Property. No part of the proceeds of the Loans will be used, whether directly or indirectly, to purchase or carry
any margin stock (as defined in Regulation U issued by the Board). The Borrower shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of the Loans
(A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or
facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto. The Borrower will not
fund all or part of any repayment of the Obligations out of proceeds derived from transactions which would be prohibited by Sanctions or would otherwise cause any Person to be in breach of Sanctions. 

Section 5.10    Collateral Matters. 

(a)    The Borrower will, and will cause each Guarantor to, at all times maintain an Acceptable Security Interest in
Mortgaged Properties constituting at least (i) 90% of the PV10 of the Credit Parties’ Proved Reserves attributable to the Oil and Gas Property evaluated in the most recent Reserve Report provided to the Administrative Agent pursuant to Section
5.01(g) (other than any DrillCo Excluded Property and the Proved Reserves attributable thereto) and (ii) 90% of the net acres of Oil and Gas Properties (other than Proved Reserves and any DrillCo Excluded Property) as of the most recently ended
fiscal quarter (including the fiscal year end) for which financial statements are available; provided that each Subject Lease shall be excluded from the calculation set forth in clause (ii) of this Section 5.10(a) until the earlier of
(1) the 90th day after such Subject Lease is acquired by a Credit Party (or, in the case of Subject Leases held on the Effective which were not subject to a mortgage under the Existing Credit Agreement, until the 90th day after the Effective Date), and (2) the earliest to occur of (A) the date that the third party having a right to acquire an interest in such Subject Lease has acquired and paid for such
interest, (B) the date that such third party has declined the offer to acquire such interest and (C) the date that such third party’s right to acquire such interest has expired. 

(b)    With respect to any Oil and Gas Property acquired (including any interest of a Credit Party in Oil and Gas
Properties acquired as the result of the formation of any pool or unit or acquired with the proceeds of any Disposition, but excluding DrillCo Excluded Properties) after the Effective Date by any Credit Party as to which the Administrative Agent,
for the benefit of the Secured Parties, does not have an Acceptable Security Interest (other than any Real Property not constituting an Oil and Gas Property), such Credit Party shall: 

(i)    with respect to Oil and Gas Properties with any associated Proved Reserves, promptly, (1) and
in any event within 30 days, execute and deliver to the Administrative Agent such Security Documents or amendments to Security Documents and take all actions, including without limitation, the filing of any financing statements or Mortgages, as the
Majority Lenders deem reasonably necessary or advisable to grant to the Administrative Agent, for the benefit of the Secured Parties, an Acceptable Security Interest in such Property, and (2) deliver to the Administrative Agent such legal
opinions relating to the matters described in clause (1) immediately preceding as the Administrative Agent may reasonably request, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Majority Lenders;
provided, that, unless a Property is acquired for a purchase price or other consideration in excess of $250,000, the Borrower will not be required to take the actions specified in this Section 5.10(b)(i) prior to the end of the fiscal quarter
in which the acquisition occurs, or if earlier, the date at which the cumulative amount of purchase price or other consideration for all Property acquired in such quarter equals or exceeds $250,000, at which time all Property theretofore acquired
and not previously made subject to a Lien in favor of the Administrative Agent will be made so subject; and 

  
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 (ii)    with respect to Oil and Gas Properties without any
associated Proved Reserves, execute and deliver to the Administrative Agent such Security Documents or amendments to Security Documents and take all actions, including the filing of any financing statements or Mortgages, as the Majority Lenders deem
necessary or advisable to grant to the Administrative Agent, for the benefit of the Secured Parties, an Acceptable Security Interest in such Property promptly, and in any event within 30 days following the earlier of (1) the end of the calendar
month in which the recorded lease with respect to such Oil and Gas Property is received by the Borrower and (2) the date such Oil and Gas Property is acquired if the purchase price of such Oil and Gas Property, together with all other such
property acquired for which no Mortgage has been filed, equals or exceeds $5,000,000 in the aggregate; provided, that the Borrower shall not be required to take the actions specified in this Section 5.10(b)(ii) with respect to any Subject
Lease until the earlier of (a) the 90th day after such Subject Lease is acquired by a Credit Party (or, in the case of Subject Leases held on the Effective Date which were not subject to a mortgage under the Existing Credit Agreement, the 90th
day after the Effective Date), and (b) the 30th day after the earlier to occur of (A) the date that the third party having a right to acquire an interest in such Subject Lease has acquired and paid for such interest, (B) the date that
such third party has declined the offer to acquire such interest and (C) the date that such third party’s right to acquire such interest has expired. 

(c)    So long as no Event of Default has occurred, the Credit Parties may continue to receive from the purchasers of
production all proceeds of the sale of production, subject, however, to the Liens created under the Security Documents, which Liens are hereby affirmed and ratified. Upon the occurrence and during the continuation of an Event of Default, the
Administrative Agent and Lenders may exercise all rights and remedies granted under the Loan Documents subject to the terms thereof, including the right to obtain possession of all proceeds of production from such Mortgaged Properties then held by
such Credit Parties or to receive directly from the purchasers of production all other proceeds of production. In no case shall any failure, whether intentioned or inadvertent, by the Administrative Agent or Lenders to collect directly any such
proceeds of production from the Mortgaged Properties constitute in any way a waiver, remission or release of any of their rights under the Security Documents, nor shall any release of any proceeds of production from any Oil and Gas Properties by the
Administrative Agent or Lenders to any Credit Parties constitute a waiver, remission, or release of any other proceeds of production from any Oil and Gas Properties or of any rights of the Administrative Agent or Lenders to collect other proceeds of
production from the Oil and Gas Properties thereafter.  
 (d)    If requested by the Administrative Agent, the
Borrower shall (i) obtain an affidavit of Initial Reversion (as defined in the DrillCo Agreement) or Final Reversion (as defined in the DrillCo Agreement) or release of Liens covering the Oil and Gas Properties subject to such reversion, in
each case, from the DrillCo Investor in accordance with the terms of the DrillCo Agreement and (ii) grant to the Administrative Agent an Acceptable Security Interest in the reversionary interest of the Credit Parties arising from such Reversion
(as defined in the DrillCo Agreement). 
 Section 5.11    Title Data. The Borrower will, and will
cause each Subsidiary to, by the Effective Date (or a later date acceptable to the Majority Lenders in their sole discretion) and from time to time thereafter at the request of the Majority Lenders, deliver to the Administrative Agent title
information in form and substance reasonably acceptable to the Majority Lenders with respect to that portion of the Oil and Gas Property set forth in the most recent Reserve Report provided to the Administrative Agent and the Lead Lender as the Lead
Lender shall deem reasonably necessary or appropriate to verify the title of the Credit Parties to not less than (i) 90% of the PV10 of the Oil and Gas Property (other than any Drillco Excluded Properties) set forth in such Reserve Report that are
required to be subject to a Mortgage pursuant to Section 5.10 and (ii) 90% of the net acres of Oil and Gas Properties (other than any DrillCo Excluded Property). 

  
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 Section 5.12    Swap Agreements. Upon the request of the
Majority Lenders, the Borrower shall, within 30 days of such request, provide to the Administrative Agent and the Majority Lenders copies of all agreements, documents and instruments evidencing the Swap Agreements not previously delivered to the
Administrative Agent, certified as true and correct by a Responsible Officer of the Borrower, and such other information regarding such Swap Agreements as the Majority Lenders may reasonably request. 

Section 5.13    Operation of Oil and Gas Property. 

(a)    The Borrower will, and will cause each Subsidiary to, maintain, develop and operate its Oil and Gas Property in a
good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Oil and Gas Property so long as such Oil and Gas Property are capable of producing Hydrocarbons
and accompanying elements in paying quantities, except where such failure to comply could not reasonably be expected to have a Material Adverse Effect. 

(b)    Borrower will, and will cause each Subsidiary to, comply in all respects with all contracts and agreements
applicable to or relating to its Oil and Gas Property or the production and sale of Hydrocarbons and accompanying elements therefrom, except to the extent a failure to so comply could not reasonably be expected to have a Material Adverse Effect.

 Section 5.14    Subsidiaries. At the time hereafter that any Subsidiary of the Borrower is created
or acquired, Borrower will (a) promptly take all action necessary to comply with Section 5.15, (b) promptly take all such action and execute and deliver, or cause to be executed and delivered, to the Administrative Agent all such opinions,
documents, instruments, agreements, and certificates similar to those described in Section 4.01(b) and Section 4.01(d) that the Administrative Agent or the Majority Lenders may reasonably request, and (c) promptly cause such Subsidiary to
(i) become a party to this Agreement and Guarantee the Obligations by executing and delivering to the Administrative Agent a Counterpart Agreement in the form of Exhibit C, (ii) to the extent required to comply with
Section 5.10, execute and deliver Mortgages and other Security Documents creating first priority Liens in favor of the Administrative Agent, subject in priority only to Permitted Prior Liens, in such Subsidiary’s Oil and Gas Property and
substantially all of such Subsidiary’s personal property, and (iii) to the extent required to comply with Section 5.11, all title opinions and other information. Upon delivery of any such Counterpart Agreement to the Administrative
Agent, notice of which is hereby waived by each Credit Party, such Subsidiary shall be a Guarantor and shall be as fully a party hereto as if such Subsidiary were an original signatory hereto. Each Credit Party expressly agrees that its obligations
arising hereunder shall not be affected or diminished by the addition or release of any other Credit Party hereunder. This Agreement shall be fully effective as to any Credit Party that is or becomes a party hereto regardless of whether any other
Person becomes or fails to become or ceases to be a Credit Party hereunder. With respect to each such Subsidiary, the Borrower shall promptly send to the Administrative Agent written notice setting forth with respect to such Person the date on which
such Person became a Subsidiary of the Borrower, and supplement the data required to be set forth in the Schedules to this Agreement as a result of the acquisition or creation of such Subsidiary; provided that such supplemental data must be
reasonably acceptable to the Majority Lenders. 
 Section 5.15    Pledged Capital Stock. On the
Effective Date and at the time hereafter that any Subsidiary of the Borrower is created or acquired, the Borrower and the Subsidiaries (as applicable) shall execute and deliver to the Administrative Agent for the benefit of the Secured Parties, the
Security Agreement (or an amendment or supplement to, or amendment and restatement of, the Security Agreement), in form and substance reasonably acceptable to the Administrative Agent and the Majority Lenders, from the Borrower and/or the
Subsidiaries (as applicable) covering all Capital Stock owned by the Borrower or the Subsidiaries in such Subsidiary, together with all certificates (or other evidence acceptable to the Majority Lenders) evidencing the issued and outstanding Capital
Stock of each such Subsidiary of every class owned by such Credit Party (as applicable) which, if certificated, shall be duly endorsed or accompanied by stock 

  
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powers executed in blank to the Administrative Agent, as the Administrative Agent or the Majority Lenders shall deem necessary or appropriate to grant, evidence and perfect a first priority
security interest in the issued and outstanding Capital Stock owned by Borrower or any Subsidiary in each Subsidiary. 

Section 5.16    Accounts. Subject to Section 5.19, no Credit Party shall establish or maintain a
deposit account, securities account or commodities account, without executing and delivering to Majority Lenders and the Administrative Agent a Control Agreement covering the applicable deposit account, securities account or commodities account,
other than with respect to Excluded Accounts; provided, however, that in the case of any a deposit account, securities account or commodities account acquired pursuant to an acquisition permitted under Section 6.07 (and
which was not formed in contemplation of such acquisition), so long as such acquiring Credit Party provides the Majority Lenders and the Administrative Agent with written notice of the existence of such deposit account, securities account or
commodities account within five Business Days following the date of such acquisition (or such later date as the Majority Lenders may agree in their sole discretion), such Credit Party will have 30 days (or such later date as the Majority Lenders may
agree in their sole discretion) to subject such deposit account, securities account or commodities account to a Control Agreement. Once a control agreement has been so executed and delivered, none of the Credit Parties will deposit or maintain
Collateral (including the proceeds thereof) in a deposit account, securities account or commodities account that is not subject to a control agreement. 

Section 5.17    Further Assurances. 

(a)    From time to time execute and deliver, or cause to be executed and delivered, such additional instruments,
certificates or documents, and take all such actions, as Administrative Agent may reasonably request for the purposes of implementing or effectuating the provisions of this Agreement and the other Loan Documents, or of more fully perfecting or
renewing the rights of Administrative Agent and the Lenders with respect to the Collateral (or with respect to any additions thereto or replacements or proceeds or products thereof or with respect to any other Property hereafter acquired by any
Credit Party, which may be deemed to be part of the Collateral) pursuant hereto or thereto. 
 (b)    Upon the exercise
by the Administrative Agent or any Lender of any power, right, privilege or remedy pursuant to this Agreement or the other Loan Documents which requires any consent, approval, recording, qualification or authorization of any Governmental Authority,
execute and deliver, or cause the execution and delivery of, all applications, certifications, instruments and other documents and papers that the Administrative Agent or such Lender may be required to obtain from Borrower or any of its Subsidiaries
for such governmental consent, approval, recording, qualification or authorization. 

Section 5.18    Redemption of Existing Notes. On the Effective Date, the Borrower shall deliver a
notice of redemption with respect to the Existing Notes in accordance with the Existing Indenture, and shall redeem all of the outstanding Existing Notes and will pay to the holders thereof all of the accrued but unpaid interest thereon, in each
case in accordance with the procedures therefor set forth in the Existing Indenture. 

Section 5.19    Post-Closing Matters. Prior to the date 30 days after the Effective Date, the
Administrative Agent and the Majority Lenders shall have received Control Agreements duly executed and delivered by each of the parties thereto with respect to all of the Credit Parties’ deposit accounts, securities accounts and commodity
accounts (other than the Excluded Accounts). 

  
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 ARTICLE VI. 

NEGATIVE COVENANTS 

Until the Obligations (other than contingent indemnification obligations for which no claim has been asserted) shall have been paid in full,
the Borrower covenants and agrees with the Administrative Agent and the Lenders that: 

Section 6.01    [Reserved].  

Section 6.02    Indebtedness. The Borrower will not, nor will it permit any of its Subsidiaries to,
create, incur, assume or permit to exist any Indebtedness, except: 
 (a)    the Obligations and Guarantees of the
Obligations; 
 (b)    letters of credit not exceeding $7,500,000 in aggregate face amount at any time outstanding; 

(c)    Indebtedness (other than Existing Notes) existing on the Effective Date and set forth in Schedule 6.02
and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (except by an amount equal to the reasonable premium paid and fees and expenses reasonably incurred therewith); 

(d)    intercompany Indebtedness between the Borrower and any Subsidiary or between Subsidiaries to the extent permitted
by Section 6.07(c); provided that any such Indebtedness owed by either the Borrower or a Guarantor shall be subordinated to the Indebtedness on terms set forth in Article VII or on such terms as are reasonably acceptable to the
Majority Lenders; provided, further, that upon the request of the Administrative Agent or the Majority Lenders at any time, such Indebtedness shall be evidenced by promissory notes having terms reasonably satisfactory to the Majority
Lenders, and the sole originally executed counterparts of which shall be pledged and delivered to the Administrative Agent, for the benefit of the Secured Parties, as security for the Obligations; 

(e)    (i) Indebtedness of the Borrower and the Subsidiaries incurred to finance the acquisition, construction or
improvement of any fixed or capital assets (including office equipment, data processing equipment and motor vehicles), including Capital Lease Obligations and any Indebtedness assumed in connection with the acquisition of any assets or secured by a
Lien on any assets prior to the acquisition thereof or (ii) any Indebtedness of any Subsidiary issued and outstanding on or prior to the date on which such Subsidiary was acquired by the Borrower or any Subsidiary, and not incurred in
contemplation thereof, in a transaction permitted hereunder, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof; provided that (A) with respect to the
Indebtedness incurred pursuant to clause (i) of this Section 6.02(e), such Indebtedness is incurred prior to or within 180 days after such acquisition or the completion of such construction or improvement and (B) the aggregate principal
amount of Indebtedness permitted by this Section 6.02(e) at any time outstanding shall not exceed $5.0 million; 

(f)    Indebtedness (other than Indebtedness for borrowed money) incurred or deposits made by the Borrower or any
Subsidiary (i) under worker’s compensation laws, unemployment insurance laws or similar legislation, (ii) in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which the Borrower or any
Subsidiary is a party, (iii) to secure public or statutory obligations of the Borrower or any Subsidiary, and (iv) of cash or U.S. Government Securities made to secure the performance of statutory obligations, surety, stay, customs and
appeal bonds to which the Borrower or any Subsidiary is party in connection with the operation of the Oil and Gas Property, in each case in the ordinary course of business; 

  
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 (g)    provided the Borrower complies with Section 5.18, Indebtedness
under the Existing Notes, including any Indebtedness constituting Guarantees thereof by the Borrower or any Subsidiary; 

(h)    Guarantees in respect of Indebtedness otherwise permitted pursuant to this Section 6.02; 

(i)    Indebtedness in connection with the endorsement of negotiable instruments and other obligations in respect of cash
management services, netting services, overdraft protection and similar arrangements, in each case in the ordinary course of business; 

(j)    Indebtedness in respect of insurance premium financing for insurance being acquired or maintained by the Borrower
or any Subsidiary under customary terms and conditions; 
 (k)    the Convertible Notes, any additional Convertible
Notes issued under the Convertible Indenture after the date hereof representing Paid-In-Kind Principal (as defined in the Convertible Indenture) and any Permitted
Refinancing Indebtedness thereof; provided that at the time of and immediately after giving effect to any Permitted Refinancing Indebtedness thereof, no Default shall have occurred and be continuing; provided, further, that,
with respect to any Indebtedness consisting of Permitted Junior Lien Debt, at least three Business Days prior to the incurrence of such Indebtedness, the Borrower shall deliver to the Administrative Agent a certificate of a Responsible Officer
certifying that such Indebtedness is permitted under the Loan Documents; 
 (l)    Indebtedness consisting of sureties
or bonds provided to any Governmental Authority or other Person and assuring payment of contingent liabilities of the Borrower in connection with the operation of the Oil and Gas Properties, including with respect to plugging, facility removal and
abandonment of its Oil and Gas Properties; and 
 (m)    other unsecured Indebtedness in an aggregate amount outstanding
at any time not to exceed $1,000,000. 
 Section 6.03    Liens. The Borrower will not, nor will it
permit any of its Subsidiaries to, create, incur, assume or permit to exist any Lien on any Property now owned or hereafter acquired by it, except: 

(a)    any Lien securing obligations under Swap Agreements that constitute “Secured Obligations” hereunder and
the Obligations created pursuant to this Agreement or the Security Documents; 
 (b)    Permitted Encumbrances; 

(c)    any Lien on any Property of the Borrower or any Subsidiary existing on the Effective Date and set forth in
Schedule 6.03; provided that (i) such Lien shall not apply to any other Property of the Borrower or any other Subsidiary (other than proceeds and accessions and additions to such property) and (ii) such Lien shall secure
only those obligations which it secures on the Effective Date and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(d)    any Lien existing on any Property prior to the acquisition thereof by the Borrower or any Subsidiary or existing on
any Property of any Person that becomes a Subsidiary after the Effective Date prior to the time such Person becomes a Subsidiary; provided that (i) such Lien secures Indebtedness permitted by Section 6.02(d), (ii) such Lien is not
created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as the case may be, (iii) such Lien shall not apply to any other Property of the Borrower or any other Subsidiary and (iv) such Lien
shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be and extensions, renewals and replacements thereof that do not increase the outstanding principal
amount thereof; 

  
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 (e)    Liens on fixed or capital assets (including office equipment, data
processing equipment and motor vehicles) acquired, constructed or improved by the Borrower or any Subsidiary; provided that (i) such Liens secure Indebtedness permitted by clause (d) of Section 6.02, (ii) such Liens and
the Indebtedness secured thereby are incurred prior to or within 180 days after such acquisition or the completion of such construction or improvement, (iii) the Indebtedness secured thereby does not exceed the cost of acquiring,
constructing or improving such fixed or capital assets and (iv) such Liens shall not apply to any other property or assets of the Borrower or any other Subsidiaries (other than proceeds and accessions and additions to such property); 

(f)    Liens securing insurance premium financing under customary terms and conditions, provided that no such Lien may
extend to or cover any property other than the insurance being acquired with such financing, the proceeds thereof and any unearned or refunded insurance premiums related thereto; 

(g)    Permitted Junior Liens securing Permitted Junior Lien Obligations; 

(h)    Liens securing reimbursement obligations under letters of credit incurred in accordance with Section 6.02(b); and

 (i)    Liens arising under the Drillco Operating Agreements provided (1) such Drillco Operating Agreements do
not cover Property located outside of the DrillCo Contract Area, and (2) such Drillco Operating Agreements are entered into pursuant to the DrillCo Agreement. 

Section 6.04    Fundamental Changes. The Borrower will not, nor will it permit any of its Subsidiaries
to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or Dispose of (in one transaction or in a series of transactions) all or substantially all of its assets, or liquidate or dissolve,
except that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing: 

(a)    any Subsidiary may merge into the Borrower in a transaction in which the Borrower is the surviving entity; 

(b)    any Subsidiary may merge into any other Subsidiary in a transaction in which the surviving entity is a Subsidiary;

 (c)    any Subsidiary may Dispose of its assets to the Borrower or to another Subsidiary; and 

(d)    Dispositions permitted by Section 6.05 may be made. 

Section 6.05    Disposition of Assets. The Borrower will not, and will not permit any Subsidiary to,
Dispose of any property except: 
 (a)    the sale of Hydrocarbons in the ordinary course of business; 

(b)    the Disposition of equipment and other property in the ordinary course of business, that is obsolete or no longer
necessary in the business of the Borrower or any of its Subsidiaries or that is being replaced by equipment of comparable value and utility; 

(c)    Liens permitted by Section 6.03, Investments permitted by Section 6.07 and Restricted Payments permitted
by Section 6.09; 
 (d)    Dispositions of cash and Cash Equivalents in the ordinary course of business; 

(e)    any Credit Party may Dispose of its property to another Credit Party; 

  
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 (f)    sales or discounts of overdue accounts receivable in the ordinary
course of business, in connection with the compromise or collection thereof, and not in connection with any financing transaction; 

(g)    other Dispositions of Oil and Gas Property (other than Hedge Modifications or Production Payments), provided
that: 
 (i)    the consideration received shall be at least equal to the Fair Market Value of the Oil
and Gas Property subject to such Disposition (and with respect to Dispositions involving consideration in excess of $2,000,000 individually and $10,000,000 in the aggregate for all Dispositions pursuant to this Section 6.05, the Borrower shall
deliver to the Administrative Agent a certificate of a Responsible Officer certifying that such Disposition was for Fair Market Value); 

(ii)    100% of the consideration received by the Borrower or any Subsidiary in respect of such Disposition
is cash or Cash Equivalents; and 
 (iii)    the Net Cash Proceeds of such Disposition are used to prepay
the Loans to the extent required pursuant to Section 2.07(a). 
 (h)    substantially contemporaneous (and in any event
occurring within 30 days of each other) Dispositions of Oil and Gas Properties as to which no Proved Reserves are attributable in exchange for other Oil and Gas Properties provided that (i) the Fair Market Value of the Oil and Gas Properties
exchanged by the Borrower or its Subsidiary (together with any cash) is reasonably equivalent to the Fair Market Value of the Oil and Gas Properties (together with any cash) to be received by the Borrower or its Subsidiary, and (ii) any cash
received must be applied in accordance with Section 2.07; 
 (i)    Dispositions of seismic, geologic or other data
and license rights; and 
 (j)    Hedge Modifications; provided that the consideration received for such Hedge
Modification is at least equal to Fair Market Value. 
 (k)    a DrillCo Required Disposition so long as the
Administrative Agent (or any designee thereof) has received within 30 days of the date on which such DrillCo Required Disposition is effected, a duly executed Mortgage granting an Acceptable Security Interest in the applicable Credit Party’s
interest in the DrillCo Joint Well that is the subject of such DrillCo Required Disposition (“DrillCo Mortgage”). 

(l)    Dispositions pursuant to a decision not to participate in an Oklahoma Corporation Commission Force Pooling Order or
any relinquishment of any interests in any oil and gas leases pursuant to a non-consent provision of a standard form of joint operating agreement. 

(m)    Any farm-out, drillco or similar arrangement with respect to any Non-Core Assets. 
 (n)    Dispositions of interests in any Subject Lease pursuant to
the exercise by a third party of its right to acquire an interest therein, to the extent and pursuant to the terms of such right as in effect on the date hereof, which Disposition is effected on or before the 90th day after such Subject Lease is
acquired by a Credit Party (or, in the case of Subject Leases held on the Effective Date which were not subject to a mortgage under the Existing Credit Agreement, the 90th day after the Effective
Date). 
 (o)    Other dispositions and sales of Properties (including any midstream assets or gathering systems) not
otherwise permitted pursuant to this Section 6.07 having a fair market value not to exceed $5,000,000 in the aggregate for all dispositions and sales of Properties pursuant to this Section 6.05(l) for the term of this Agreement. 

  
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 Section 6.06    Nature of Business. The Borrower will not,
nor will it permit any of its Subsidiaries to, engage to any material extent in any business other than businesses of the type conducted by the Borrower and its Subsidiaries on the date of execution of this Agreement and businesses reasonably
related thereto. 
 Section 6.07    Investments. The Borrower will not, nor will it permit any of its
Subsidiaries to, make any Investment, except: 
 (a)    Investments in Cash Equivalents; 

(b)    Investments (i) made by any Credit Party in or to any Credit Party and (ii) made by any Subsidiary in or
to any Credit Party; 
 (c)    Investments made by the Borrower or any Subsidiary pursuant to the commitments set forth
on Schedule 6.07(c); provided, that the Borrower’s or any Subsidiary’s commitments set forth on Schedule 6.07(c) shall not be increased or otherwise altered in any manner adverse to the interests of the Borrower or any
of its Subsidiaries, on the one hand, and the Lenders, on the other hand, unless otherwise consented to by the Majority Lenders; 

(d)    Guarantees constituting Indebtedness permitted by Section 6.02 (other than guarantees in respect of Capital
Lease Obligations) and performance guarantees, in each case, incurred in the ordinary course of business; 

(e)    Investments by the Borrower and its Subsidiaries that are customary in the oil and gas business and in the
ordinary course of the Borrower’s or such Subsidiary’s business, and in the form of, or pursuant to, oil, gas and mineral leases, operating agreements, unitization agreements, joint bidding agreements, services contracts and other similar
agreements that a reasonable and prudent oil and gas industry owner or operator would find acceptable; 

(f)    Investments consisting of Swap Agreements to the extent permitted under Section 6.08; 

(g)    Investments existing as of the Effective Date and set forth on Schedule 6.07(g); 

(h)    Investments consisting of (i) loans and advances to employees for moving, entertainment, travel and other
similar expenses in the ordinary course of business and (ii) other short term loans to employees not to exceed, with respect to the foregoing clauses (i) and (ii) together, $250,000 in the aggregate at any time outstanding; 

(i)    demand deposits with financial institutions, prepaid expenses and extensions of trade credit in the ordinary course
of business (and any Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss); 

(j)    trade and customer accounts receivable which are for goods furnished or services rendered in the ordinary course of
business and are payable in accordance with customary trade terms; 
 (k)    Investments received in connection with the
bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers and suppliers, in each case in the ordinary course of business; provided that, the aggregate amount of such investment shall not exceed $1,000,000
(other than by appreciation); 
 (l)    Investments consisting of any deferred portion of the sales price received by
the Borrower or any Subsidiary in connection with any sale of assets permitted hereunder; 

  
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 (m)    any Investment by the Company or any Subsidiary of the Company in a
Person, if as a result of such Investment (i) such Person becomes a Subsidiary of the Company; or such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its Properties or assets to, or is
liquidated into, the Company or a Subsidiary of the Company; and 
 (n)    other investments not to exceed $1,000,000 in
the aggregate. 
 Section 6.08    Swap Agreements. The Borrower will not, nor will the Borrower
permit any of its Subsidiaries to, enter into any Swap Agreement, except Swap Agreements with Qualified Counterparties entered into in the ordinary course of business and not for speculative purposes to: 

(a)    hedge or mitigate price risks with respect to Hydrocarbons to which the Borrower or any Subsidiary has actual
exposure (whether or not treated as a hedge for accounting purposes under GAAP); provided that at the time the Borrower or any Subsidiary enters into any such Swap Agreement, such Swap Agreement (x) does not have a term greater than 60
months from the date such Swap Agreement is entered into, and (y) when aggregated with all other Swap Agreements then in effect would not cause the aggregate notional volume per month for each of Hydrocarbons, calculated separately, under all
Swap Agreements then in effect (other than Excluded Hedges) to exceed, as of the date such Swap Agreement is executed, (A) for any month during the forthcoming five-year period, 100% of the Projected Oil and Gas Production as set forth in
clause (a) of such defined term and (B) for any month during the forthcoming 36-month period, 75% of the Projected Oil and Gas Production as set forth in clause (b) of such defined term; and

 (b)    effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to
another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Borrower or any Subsidiary. 

Section 6.09    Restricted Payments. The Borrower will not, nor will it permit any of its Subsidiaries
to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment; provided that, so long as at the time of and immediately after giving effect to such Restricted Payment no Default or Event of Default shall have
occurred and be continuing or would occur as a consequence thereof, the Borrower or any Subsidiary may make the following Restricted Payments: 

(a)    the declaration and payment of dividends or distributions by the Borrower solely in Capital Stock (other than
Disqualified Stock) of the Borrower; 
 (b)    the declaration and payment of dividends or distributions by any
Subsidiary to the Borrower or any Guarantor; 
 (c)    the redemption of Existing Notes out of the proceeds of the
Loans, the Convertible Notes and the Common Stock Purchase; 
 (d)    the principal payment on, defeasance, redemption,
repurchase, exchange or other acquisition or retirement of any Convertible Notes made solely by exchange for, or out of the proceeds of the substantially concurrent sale or incurrence of Permitted Refinancing Indebtedness of the Borrower or any
Guarantor incurred pursuant to Section 6.02(l) or Capital Stock (other than Disqualified Stock) of the Borrower; 

(e)    cash dividends on (i) the Series A Preferred Shares and Series B Preferred Shares, as required under the terms
of such securities as in effect on the date hereof and (ii) any Qualified Preferred Shares; provided that at the time of and immediately after giving effect to such distribution, (y) no Default or Event of Default has occurred and
is continuing or would result therefrom and (z) from, and including, August 1, 2018, to, but excluding May 1, 2019, the Fixed Charge Coverage Ratio is not less than 1.0 to 1.0 and from and after May 1, 2019, the Fixed Charge
Coverage Ratio is not less than 1.25 to 1.0; and 

  
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 (f)    the issuance and delivery of shares of common stock of the Borrower to
holders of the Convertible Notes in connection with a conversion by such holders of Convertible Notes, together with the payment of nominal cash consideration for fractional common shares thereof, in each case in accordance with the Convertible
Indenture. 
 Section 6.10    Transactions with Affiliates. 

(a)    The Borrower will not, and will not permit any of its Subsidiaries to, make any payment to, or sell, lease, transfer
or otherwise dispose of any of its properties or assets to, or purchase any Property from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with (or for the benefit of), any Affiliate of
the Borrower (each, an “Affiliate Transaction”), unless: 
 (i)    the Affiliate
Transaction is on terms that are no less favorable to the Borrower or the relevant Subsidiary than those that would have been obtained in a comparable transaction by the Borrower or such Subsidiary with an unrelated Person or, if in the good faith
judgment of the Borrower’s Board of Directors, no comparable transaction is available with which to compare such Affiliate Transaction, such Affiliate Transaction is otherwise fair to the Borrower or the relevant Subsidiary from a financial
point of view; and 
 (ii)    the Borrower delivers to the trustee (A) with respect to any Affiliate
Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $10.0 million, a resolution of the Board of Directors of the Borrower set forth in an officers’ certificate certifying that such
Affiliate Transaction or series of related Affiliate Transactions complies with this covenant and that such Affiliate Transaction or series of related Affiliate Transactions has been approved by a majority of the disinterested members of the Board
of Directors of the Borrower; and (B) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $20.0 million, an opinion as to the fairness to the Borrower or such
Subsidiary of such Affiliate Transaction or series of related Affiliate Transactions from a financial point of view issued by an accounting, appraisal or investment banking firm of national standing. 

(b)    Section 6.10(a) will not apply to: 

(i)    transactions between or among Credit Parties; 

(ii)    payment of reasonable and customary fees and reimbursements of expenses (pursuant to indemnity
arrangements or otherwise) of officers, directors, employees or consultants of the Borrower or any of its Subsidiaries; 

(iii)    Restricted Payments permitted by Section 6.09; and 

(iv)    any issuance of Capital Stock (other than Disqualified Stock) of the Company to Affiliates of the
Borrower and the granting of registration and other customary rights in connection therewith. 

Section 6.11    Restrictive Agreements. The Borrower will not, nor will it permit any of its
Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary to create, incur or
permit to exist any Lien upon any of its Property to secure the Obligations, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any of its Capital Stock or to make

  
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or repay loans or advances to the Borrower or any Subsidiary or to Guarantee Indebtedness of the Borrower or any Subsidiary; provided that (i) the foregoing shall not apply to
restrictions and conditions imposed by law or by this Agreement or the Convertible Indenture (or any documents evidencing or relating to the issuance of any permitted Senior Notes, any Permitted Refinancing), and (ii) clause (a) of the
foregoing shall not apply to (A) restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the Property securing such Indebtedness,
(B) customary provisions in leases and other contracts restricting the assignment thereof, (C) restrictions with respect to Oil and Gas Property that are not included in the most recent Reserve Report delivered to the Administrative Agent
and (D) provisions of the DrillCo Agreement pursuant to which the Credit Parties agree not to grant Liens that can be perfected with recordings in the applicable county records securing the Obligations on any Properties in the DrillCo Contract
Area (other than Wellbore Liens permitted hereunder and Liens on Non-DrillCo Assets). 

Section 6.12    Disqualified Stock. The Borrower will not, nor will it permit any of its Subsidiaries
to, issue any Disqualified Stock. 
 Section 6.13    Certain Amendments to Organizational Documents and
Convertible Notes. The Borrower will not, nor will it permit any of its Subsidiaries to: 
 (a)    enter into or
permit any modification or amendment of, or waive any material right or obligation of any Person under its Organizational Documents if the effect thereof would be materially adverse to the Administrative Agent or any Lender or violate
Section 6.11; or 
 (b)    enter into or permit any modification or amendment of the Convertible Notes the effect
of which is to (i) increase the maximum principal amount of the Convertible Notes or the rate of interest on any of the Convertible Notes (other than as a result of the imposition of a default rate of interest in accordance with the terms of
the Convertible Notes), (ii) change or add any event of default or any covenant with respect to the Convertible Notes if the effect of such change or addition is to cause any one or more of the Convertible Notes to be more restrictive on the
Borrower or any of its Subsidiaries than such Convertible Notes were prior to such change or addition, (iii) shorten the dates upon which scheduled payments of principal or interest on the Convertible Notes are due, (iv) change any
redemption or prepayment provisions of the Convertible Notes, (v) grant any Liens in any assets of the Borrower or any of its Subsidiaries except for Permitted Junior Liens, or (vi) permit any Subsidiary to Guarantee the Convertible Notes
unless such Subsidiary is (or concurrently with any such Guarantee becomes) a Guarantor hereunder. 

Section 6.14    Sale and Leaseback Transactions and other Off-Balance
Sheet Liabilities. The Borrower will not, nor will it permit any Subsidiary to, enter into or suffer to exist any Sale and Leaseback Transaction or any other transaction pursuant to which it incurs or has incurred Off-Balance Sheet Liabilities. 
 Section 6.15    DrillCo
Restrictions. Without the prior written consent of the Majority Lenders, no Credit Party shall amend or otherwise modify the DrillCo Agreement in a manner materially adverse to the Lenders, including, without limitation, any amendment or
modification which would (a) increases the number of Joint Wells (as defined in the Drillco Agreement) above sixty (60); (b) materially changes the area subject to the Joint Development Agreement; or (c) materially change any economic
terms or provision of the Joint Development Agreement, including with respect to the costs to be borne by the Company. 

Section 6.16    Lease Restrictions. The Borrower and its Subsidiaries shall not, without the consent of
the Majority Lenders, allow more than 10% of the net acreage consisting of Oil and Gas Properties of the Borrower and its Subsidiaries, measured as of the Effective Date, to lapse, expire or otherwise terminate in any manner without such Oil and Gas
Properties being replaced by Oil and Gas Properties of similar quantity and value in Township 20 North – Range 8 West, Township 20 North – Range 7 West, Township 19 North – Range 9 West, Township 19 North – Range 8 West, Township
19 North – 

  
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Range 7 West, Township 18 North – Range 8 West, Township 18 North – Range 7 West, and Township 18 North – Range 6 West; provided that, (a) for purposes of calculating
such net acreage, all Non-Core Assets shall be excluded from the Oil and Gas Properties of the Borrower and its Subsidiaries and (b) such percentage shall be adjusted following the Effective Date to take
into account any disposition or acquisition of Oil and Gas Properties as reasonably determined between the Borrower and the Majority Lenders (it being understood and agreed that such adjustment referred to in this proviso shall not in and of itself
result in a Default or an Event of Default). 
 ARTICLE VII. 

GUARANTEE OF OBLIGATIONS 

Section 7.01    Guarantee of Payment. Each Guarantor unconditionally and irrevocably guarantees to the
Collateral Agent for the benefit of the Secured Parties, the punctual payment of all Secured Obligations now or which may in the future be owing by any Credit Party (the “Guaranteed Liabilities”). This Guarantee is a guaranty of
payment and not of collection only. The Collateral Agent shall not be required to exhaust any right or remedy or take any action against the Borrower or any other Person or any collateral. The Guaranteed Liabilities include interest accruing after
the commencement of a proceeding under bankruptcy, insolvency or similar laws of any jurisdiction at the rate or rates provided in the Loan Documents. Each Guarantor agrees that, as between the Guarantor and the Collateral Agent, the Guaranteed
Liabilities may be declared to be due and payable for the purposes of this Guarantee notwithstanding any stay, injunction or other prohibition which may prevent, delay or vitiate any declaration as regards the Borrower or any other Guarantor and
that in the event of a declaration or attempted declaration, the Guaranteed Liabilities shall immediately become due and payable by each Guarantor for the purposes of this Guarantee. 

Section 7.02    Guarantee Absolute. Each Guarantor guarantees that the Guaranteed Liabilities shall be
paid strictly in accordance with the terms of this Agreement. The liability of each Guarantor hereunder is absolute and unconditional irrespective of: (a) any change in the time, manner or place of payment of, or in any other term of, all or
any of the Loan Documents or the Guaranteed Liabilities, or any other amendment or waiver of or any consent to departure from any of the terms of any Loan Document or Guaranteed Liability, including any increase or decrease in the rate of interest
thereon; (b) any release or amendment or waiver of, or consent to departure from, any other guaranty or support document, or any exchange, release or non-perfection of any collateral, for all or any of
the Loan Documents or Guaranteed Liabilities; (c) any present or future law, regulation or order of any jurisdiction (whether of right or in fact) or of any agency thereof purporting to reduce, amend, restructure or otherwise affect any term of
any Loan Document or Guaranteed Liability; (d) without being limited by the foregoing, any lack of validity or enforceability of any Loan Document or Guaranteed Liability; and (e) any other setoff, defense or counterclaim whatsoever (in
any case, whether based on contract, tort or any other theory) with respect to the Loan Documents or the transactions contemplated thereby which might constitute a legal or equitable defense available to, or discharge of, the Borrower or a Guarantor
(other than the defense of payment or performance). 
 Section 7.03    Guarantee Irrevocable. This
Guarantee is a continuing guaranty of the payment of all Guaranteed Liabilities now or hereafter existing under this Agreement, and shall remain in full force and effect until payment in full of all Guaranteed Liabilities and other amounts payable
hereunder. 
 Section 7.04    Reinstatement. This Guarantee shall continue to be effective or be
reinstated, as the case may be, if at any time any payment of any of the Guaranteed Liabilities is rescinded or must otherwise be returned by the Collateral Agent or any Secured Party on the insolvency, bankruptcy or reorganization of the Borrower,
or any other Credit Party, or otherwise, all as though the payment had not been made. 

  
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 Section 7.05    Subrogation. No Guarantor shall exercise
any rights which it may acquire by way of subrogation, by any payment made under this Guarantee or otherwise, until all the Guaranteed Liabilities have been paid in full and this Agreement. If any amount is paid to the Guarantor on account of
subrogation rights under this Guarantee at any time when all the Guaranteed Liabilities have not been paid in full, the amount shall be held in trust for the benefit of the Secured Parties and shall be promptly paid to the Collateral Agent to be
credited and applied to the Guaranteed Liabilities, whether matured or unmatured or absolute or contingent, in accordance with the terms of this Agreement and the Swap Agreements. If any Guarantor makes payment to any Secured Party of all or any
part of the Guaranteed Liabilities and all the Guaranteed Liabilities are paid in full and this Agreement, the Collateral Agent and the Secured Parties shall, at such Guarantor’s request, execute and deliver to such Guarantor appropriate
documents, without recourse and without representation or warranty, necessary to evidence the transfer by subrogation to such Guarantor of an interest in the Guaranteed Liabilities resulting from the payment. 

Section 7.06    Subordination. Without limiting the rights of the Collateral Agent and the Secured
Parties under any other agreement, any liabilities owed by the Borrower to any Guarantor in connection with any extension of credit or financial accommodation by any Guarantor to or for the account of the Borrower, including but not limited to
interest accruing at the agreed contract rate after the commencement of a bankruptcy or similar proceeding, are hereby subordinated to the Guaranteed Liabilities, and such liabilities of the Borrower to such Guarantor, if the Collateral Agent so
requests after the occurrence and during the continuation of a Default or event of default or termination event (howsoever defined) under any Swap Agreement constituting a Secured Obligation hereunder, shall be collected, enforced and received by
any Guarantor as trustee for the Collateral Agent and shall be paid over to the Collateral Agent on account of the Guaranteed Liabilities but without reducing or affecting in any manner the liability of the Guarantor under the other provisions of
this Guarantee. 
 Section 7.07    Payments Generally. All payments by the Guarantors shall be made
in the manner, at the place and in the currency (the “Payment Currency”) required by the Loan Documents and in accordance with the Swap Intercreditor Agreement; provided, however, that if the Payment Currency is other
than Dollars any Guarantor may, at its option (or, if for any reason whatsoever any Guarantor is unable to effect payments in the foregoing manner, such Guarantor shall be obligated to) pay to the Collateral Agent at its principal office the
equivalent amount in Dollars computed at the selling rate of the Collateral Agent or a selling rate chosen by the Collateral Agent, most recently in effect on or prior to the date the Guaranteed Liability becomes due, for cable transfers of the
Payment Currency to the place where the Guaranteed Liability is payable. In any case in which any Guarantor makes or is obligated to make payment in Dollars, the Guarantor shall hold the Collateral Agent and the Secured Parties harmless from any
loss incurred by the Collateral Agent and any Secured Party arising from any change in the value of Dollars in relation to the Payment Currency between the date the Guaranteed Liability becomes due and the date the Collateral Agent or such Secured
Party is actually able, following the conversion of the Dollars paid by such Guarantor into the Payment Currency and remittance of such Payment Currency to the place where such Guaranteed Liability is payable, to apply such Payment Currency to such
Guaranteed Liability. 
 Section 7.08    Setoff. Each Guarantor agrees that, in addition to (and
without limitation of) any right of setoff, banker’s lien or counterclaim the Collateral Agent or any Secured Party may otherwise have, the Collateral Agent or such Secured Party shall be entitled, at its option, to offset balances (general or
special, time or demand, provisional or final) held by it for the account of any Guarantor at any office of the Collateral Agent or such Secured Party, in Dollars or in any other currency, against any amount payable by such Guarantor under this
Guarantee which is not paid when due (regardless of whether such balances are then due to such Guarantor), in which case it shall promptly notify such Guarantor thereof; provided that the failure of the Collateral Agent or such Secured Party
to give such notice shall not affect the validity thereof. 

  
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 Section 7.09    Formalities. Each Guarantor waives
presentment, notice of dishonor, protest, notice of acceptance of this Guarantee or incurrence of any Guaranteed Liability and any other formality with respect to any of the Guaranteed Liabilities or this Guarantee. 

Section 7.10    Limitations on Guarantee. The provisions of the Guarantee under this Article VII are
severable, and in any action or proceeding involving any state corporate law, or any state, federal or foreign bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of any Guarantor under
this Guarantee would otherwise be held or determined to be avoidable, invalid or unenforceable on account of the amount of such Guarantor’s liability under this Guarantee, then, notwithstanding any other provision of this Guarantee to the
contrary, the amount of such liability shall, without any further action by the Guarantors, the Collateral Agent or any Secured Party, be automatically limited and reduced to the highest amount that is valid and enforceable as determined in such
action or proceeding (such highest amount determined hereunder being the relevant Guarantor’s “Maximum Liability”). This Section 7.10 with respect to the Maximum Liability of the Guarantors is intended solely to preserve
the rights of the Collateral Agent and the Secured Parties hereunder to the maximum extent not subject to avoidance under applicable law, and no Guarantor nor any other Person shall have any right or claim under this Section 7.10 with respect
to the Maximum Liability, except to the extent necessary so that none of the obligations of any Guarantor hereunder shall not be rendered voidable under applicable law. 

Section 7.11    Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely,
unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Guarantor to honor all of its obligations under this Article VII in respect of all obligations in respect of Swap
Agreements that constitute Secured Obligations hereunder (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 7.11 for the maximum amount of such liability that can be hereby
incurred without rendering its obligations under this Section 7.11 or otherwise under this Article VII voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of
each Qualified ECP Guarantor under this Article VII shall remain in full force and effect until a discharge of the Guaranteed Liabilities. Each Qualified ECP Guarantor intends that this Section 7.11 constitute, and this Section 7.11 shall
be deemed to constitute, a “keepwell, support or other agreement” for the benefit of each other Guarantor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

Section 7.12    Survival. The agreements and other provisions in this Article VII shall survive, and
remain in full force and effect regardless of, the resignation or removal of the Collateral Agent or the Collateral Agent, the replacement of any Lender, the expiration or termination of this Agreement and the Aggregate Commitments, and the
repayment, satisfaction or discharge of the Obligations. 
 ARTICLE VIII. 

EVENTS OF DEFAULT 

If any of the following events (“Events of Default”) shall occur: 

(a)    the Borrower shall fail to pay any principal of, or premium on, any Loan when and as the same shall become due and
payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 
 (b)    the Borrower
shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause (a) of this Article) payable under this Agreement or the Fee Letter, when and as the same shall become due and payable, and
such failure shall continue unremedied for a period of five Business Days; 

  
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 (c)    any representation or warranty made or deemed made by or on behalf of
the Borrower or any Subsidiary in or in connection with this Agreement or any amendment or modification hereof or waiver hereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this
Agreement or any amendment or modification hereof or waiver hereunder or in any Loan Document furnished pursuant to or in connection with this Agreement or any amendment or modification thereof or waiver hereunder, shall prove to have been incorrect
in any material respect when made or deemed made and such materiality is continuing; 
 (d)    the Borrower or any
Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02, Section 5.03 (with respect to the Borrower’s or any Subsidiary’s existence), Section 5.09, Section 5.10,
Section 5.18, Section 5.19 or in Article VI; 
 (e)    the Borrower or any Subsidiary shall fail to observe or
perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article) or any Loan Document, and such failure shall continue unremedied for a period of 30 days after
receipt of written notice thereof from the Administrative Agent to the Borrower (which notice will be given at the request of any Lender); 

(f)    the Borrower or any Subsidiary shall fail to make any payment required under the DrillCo Agreement within 30 days
of the date such payment is due under the DrillCo Agreement, unless such payment is being disputed in good faith and the Company has established adequate reserves therefor; 

(g)    the Borrower or any Subsidiary shall fail to make any payment (whether of principal or interest and regardless
of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable and such failure shall continue beyond the applicable grace period, if any, or any event or condition occurs that results in any Material
Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf
to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to (i) secured Indebtedness
that becomes due as a result of the voluntary sale or transfer of the Property securing such Indebtedness and (ii) Indebtedness that becomes due as a result of a change in law, tax regulation or accounting treatment so long as such Indebtedness
is paid when due; 
 (h)    an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, reorganization or other relief in respect of the Borrower or any Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law
now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its assets, and, in any such case, such
proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 

(i)    the Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking
liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate
manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary
or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action
for the purpose of effecting any of the foregoing; 

  
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 (j)    the Borrower or any Subsidiary shall become unable, admit in writing
its inability or fail generally to pay its debts as they become due; 
 (k)    one or more judgments for the payment of
money in an aggregate amount in excess of $2,500,000 shall be rendered against the Borrower or any Subsidiary or any combination thereof and either the same shall remain undischarged or unsatisfied for a period of 30 consecutive days during
which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any Subsidiary to enforce any such judgment; 

(l)    an ERISA Event shall have occurred that, in the opinion of the Majority Lenders, when taken together with all other
ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; 
 (m)    the
delivery by any Guarantor to the Administrative Agent of written notice that a Guarantee under Article VII has been revoked; 

(n)    any material provision of any Loan Document, at any time after its execution and delivery and for any reason other
than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be valid and enforceable as against any Credit Party; or any Credit Party or any other Person contests in any manner the validity or
enforceability of any provision of any Loan Document; or any Credit Party denies that it has any or further liability or obligation under any provision of any Loan Document, or purports to revoke, terminate or rescind any provision of any Loan
Document; 
 (o)    any Security Instrument after delivery thereof shall for any reason (other than pursuant to the
terms thereof) cease to create a valid and perfected first priority Lien (subject in priority only to Permitted Prior Liens) on the Collateral purported to be covered thereby; 

(p)    any Lien granted to a Credit Party by the DrillCo Investor under or related to the DrillCo Operating Agreement
fails to be senior to all other Liens granted by the DrillCo Investor in the Property encumbered thereby (other than (i) the Liens granted under the memorandum of DrillCo Operating Agreement to the other Persons party thereto and
(ii) Liens of the type described in clause (a) of “Permitted Encumbrances” definition), and such failure shall remain unremedied for 30 days after the earlier to occur of a Credit Party becoming aware of the occurrence of such
failure and notice from the Administrative Agent to the Borrower of such failure; or 
 (q)    an “Event of
Default” under the Convertible Indenture shall have occurred; 
 then, and in every such event (other than an event with respect to the
Borrower or any Subsidiary described in clause (h) or (i) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the written request of the Majority Lenders shall, by notice to
the Borrower, take either or both of the following actions, at the same or different times: (i) terminate the Aggregate Commitment, and thereupon the Aggregate Commitment shall terminate immediately, and (ii) declare the Loans then
outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable,
together with accrued interest thereon and all fees, premiums and other obligations of the Borrower accrued or payable hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of
which are hereby waived by the Borrower; and in case of any event with respect to the Borrower described in clause (h) or (i) of this Article, the Aggregate Commitment shall automatically terminate and the principal of the Loans then
outstanding, together with accrued interest thereon and all fees, premiums and other obligations of the Borrower accrued or payable hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any
kind, all of which are hereby waived by the Borrower. Without 

  
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limiting the foregoing, upon the occurrence and during the continuance of an Event of Default, the Administrative Agent and each Lender may, subject to the Swap Intercreditor Agreement, protect
and enforce its rights under this Agreement and the other Loan Documents by any appropriate proceedings, including proceedings for specific performance of any covenant or agreement contained in this Agreement or any other Loan Document, and the
Administrative Agent and each Lender may, subject to the Swap Intercreditor Agreement, enforce payment of any Obligations due and payable hereunder or enforce any other legal or equitable right and remedies which it may have under this Agreement,
any other Loan Document, or under applicable law or in equity. 
 Without limiting the generality of the foregoing, it is understood and
agreed that if the maturity of the Loans shall be accelerated or the Loans otherwise become due prior to the Maturity Date (under any provision of this Article VIII or otherwise) a premium equal to the Make-Whole Amount or Applicable Premium (in
each case, determined as if the Loans were repaid at the time of such acceleration at the option of the Borrower pursuant to Section 2.08 and as calculated by the Majority Lenders which, absent manifest error, shall be deemed conclusive) shall
also become immediately due and payable and shall constitute part of the Obligations, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of each
Lender’s lost profits as a result thereof. Any premium payable above shall be presumed to be the liquidated damages sustained by each Lender as the result of the early redemption and the Borrower agrees that it is reasonable under the
circumstances currently existing. Without limiting the foregoing, any redemption, prepayment, repayment, or payment of the Obligations in or in connection with a Bankruptcy Event shall constitute an optional prepayment thereof under the terms of
Section 2.06 and require the immediate payment of the Make-Whole Amount and Applicable Premium. Any premium payable pursuant to this Article VIII shall be presumed to be the liquidated damages sustained by each Lender as a result of the early
redemption and the Credit Parties agree that it is reasonable under the circumstances currently existing. The premium shall also be payable in the event the Obligations are satisfied or released by foreclosure (whether by power of judicial
proceeding), deed in lieu of foreclosure or by any other means. THE BORROWER EXPRESSLY WAIVES (TO THE FULLEST EXTENT IT MAY LAWFULLY DO SO) THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE
FOREGOING PREMIUM IN CONNECTION WITH ANY SUCH ACCELERATION. The Borrower expressly agrees (to the fullest extent it may lawfully do so) that: (A) the premium is reasonable and is the product of an arm’s length transaction between
sophisticated business people, ably represented by counsel; (B) the premium shall be payable notwithstanding the then prevailing market rates at the time payment is made; (C) there has been a course of conduct between the Lenders and the
Borrower giving specific consideration in this transaction for such agreement to pay the premium; and (D) the Borrower shall be estopped hereafter from claiming differently than as agreed to in this paragraph. The Borrower expressly
acknowledges that its agreement to pay the premium to Lenders as herein described is a material inducement to Lenders to enter into this Agreement. 

Notwithstanding anything to the contrary contained in this Agreement, upon the occurrence and during the continuance of an Event of Default,
the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times thereafter received by Administrative Agent from or on behalf of Borrower or any Guarantor of all or any part of the Obligations, and,
as between Borrower on the one hand and Administrative Agent and Lenders on the other, Administrative Agent shall, subject to the Swap Intercreditor Agreement, have the continuing and exclusive right to apply and to reapply any and all payments
received against the Obligations in such manner as Administrative Agent may deem advisable notwithstanding any previous application by Administrative Agent. 

Following the occurrence and during the continuance of an Event of Default, Administrative Agent shall, subject to the Swap Intercreditor
Agreement, apply any and all payments received by Administrative Agent in respect of the Obligations, and any and all proceeds of Collateral received by Administrative Agent, in the following order: first, to all fees, costs, indemnities,
liabilities, obligations and expenses incurred by or 

  
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owing to Administrative Agent with respect to this Agreement, the other Loan Documents or the Collateral, second, to all fees, costs, indemnities and expenses incurred by or owing to any
Lender with respect to this Agreement, the other Loan Documents or the Collateral, third, to accrued and unpaid interest on the Obligations, fourth, to the principal amount of the Obligations outstanding, and fifth, to any other
indebtedness or obligations of Borrower owing to Administrative Agent or any Lender under the Loan Documents. Any balance remaining after giving effect to the applications set forth above shall be delivered to the Borrower or to whoever may be
lawfully entitled to receive such balance or as a court of competent jurisdiction may direct. In carrying out any of the applications set forth herein, amounts received shall be applied in the numerical order provided until exhausted prior to the
application to the next succeeding category. 
 ARTICLE IX. 

THE ADMINISTRATIVE AGENT 

Section 9.01    Appointment and Authority. 

(a)    Each of the Lenders hereby irrevocably appoints Wilmington Trust, National Association, to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof, together with
such actions and powers as are reasonably incidental thereto. 
 (b)    The Administrative Agent shall also act as the
“Collateral Agent” or “collateral agent” under the Loan Documents, and each of the Lenders hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender for purposes of acquiring, holding
and enforcing any and all Liens on Collateral granted by any of the Credit Parties to secure any of the Secured Obligations, together with such powers and discretion as are reasonably incidental thereto. All protections, exculpations,
indemnifications, expense reimbursements, rights, powers and privileges provided to the Administrative Agent under this Agreement and the other Loan Documents shall also apply to the Administrative Agent acting in its capacity as “Collateral
Agent” (or “collateral agent” as applicable) under the Loan Documents. In this connection, the Administrative Agent acting in its capacity as “Collateral Agent” (or “collateral agent” as applicable) and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent (in it
capacity as “Collateral Agent” or “collateral agent”) pursuant to this Article IX for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Loan Documents, or for exercising any
rights and remedies thereunder, shall be entitled to the benefits of all provisions of this Article IX and Article X (including, without limitation, Section 10.03 as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” or “Collateral Agent” under the Loan Documents) as if
set forth in full herein with respect thereto. 
 Section 9.02    Rights as a Lender. The Person
serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity, if applicable, as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and such Person and its
Affiliates may accept deposits from, lend money to and generally engage in any kind of business with any Credit Party or other Affiliate thereof as if it were not the Administrative Agent hereunder. 

Section 9.03    Exculpatory Provisions. The duties of Administrative Agent shall be mechanical
and administrative in nature. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein or in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the
generality of the foregoing: 
 (a)    the Administrative Agent shall not be subject to any fiduciary or other implied
duties, regardless of whether a Default has occurred and is continuing, 

  
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 (b)    the Administrative Agent shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise as directed in writing by the Majority Lenders (or such other
number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02); provided that Administrative Agent shall not be required to take any action that, in its judgment or the judgment of its
counsel, may expose Administrative Agent to liability or that is contrary to any Loan Document or applicable Requirements of Law, and 

(c)    except as expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and shall not
be liable for the failure to disclose, any information relating to any Credit Party or any of their Affiliates that is communicated to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity. 

The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Majority
Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02) or in the absence of its own gross negligence or willful misconduct as determined by a final non-appealable judgment of a court of competent jurisdiction. 
 The Administrative Agent shall be deemed
not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into
(i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection
herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, or
any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Security Documents, (v) the value or the sufficiency of any Collateral or (vi) the
satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. The Administrative Agent shall not be liable for any apportionment or
distribution of payments made by it in good faith and if any such apportionment or distribution is subsequently determined to have been made in error the sole recourse of any Lender to whom payment was due but not made, shall be to recover from
other Lenders any payment in excess of the amount to which they are determined to be entitled (and such other Lenders hereby agree to return to such Lender any such erroneous payments received by them). 

Without limiting the generality of the foregoing, the use of the term “agent” in this Agreement with reference to the Administrative
Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such term us used merely as a matter of market custom and is intended to create or reflect only an
administrative relationship between independent contracting parties. Each party to this Agreement acknowledges and agrees that the Administrative Agent and the Majority Lenders or the Majority Lenders may use an outside service provider for the
tracking of all UCC financing statements or similar statements under the laws of any other jurisdiction required to be filed pursuant to the Loan Documents and notification to the Administrative Agent, the Majority Lenders or the Majority Lenders,
as the case may be, of, among other things, the upcoming lapse or expiration thereof. 

  
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 Section 9.04    Reliance by Administrative Agent.
The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been
signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. The
Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any
such counsel, accountants or experts. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is
satisfactory to such Lender unless the Administrative Agent shall have received written notice to the contrary from such Lender prior to the making of such Loan. 

The Administrative Agent may at any time request instructions from Lenders with respect to any actions or approvals which by the terms of this
Agreement or of any of the Loan Documents the Administrative Agent is permitted or desires to take or to grant, and if such instructions are promptly requested, the Administrative Agent shall be absolutely entitled to refrain from taking any action
or to withhold any approval and shall not be under any liability whatsoever to any Person for refraining from any action or withholding any approval under any of the Loan Documents until it shall have received such instructions from Majority Lenders
or all or such other portion of Lenders as shall be prescribed by this Agreement. Without limiting the foregoing, no Lender shall have any right of action whatsoever against the Administrative Agent as a result of Administrative Agent acting or
refraining from acting under this Agreement or any of the other Loan Documents in accordance with the instructions of the Majority Lenders (or all or such other portion of Lenders as shall be prescribed by this Agreement) and, notwithstanding the
instructions of the Majority Lenders (or such other applicable portion of Lenders), the Administrative Agent shall have no obligation to take any action if it believes, in good faith, that such action would violate applicable law or exposes the
Administrative Agent to any liability for which it has not received satisfactory indemnification in accordance with the provisions of Section 10.03 of this Agreement. 

Section 9.05    Delegation of Duties. The Administrative Agent may perform any and all its
duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent
may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding paragraphs, including those indemnification and expense reimbursement provisions in
Section 10.03 of this Agreement, shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to
their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. Administrative Agent shall not incur any liability for any action or inaction taken by a sub-agent except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent acted with gross
negligence or willful misconduct in the selection of such sub-agents. 

Section 9.06    Collateral and Guaranty Matters. Subject to the Swap Intercreditor Agreement,
each Lender hereby authorizes the Administrative Agent to release (or instruct the Collateral Agent to release) any Collateral that it is permitted to be sold or released pursuant to the terms of the Loan Documents (it being understood and agreed
that the Administrative Agent may conclusively rely without further inquiry on a certificate of a Responsible Officer as to the sale or other disposition of property being made in full compliance with the provisions of the Loan Documents). Each
Lender hereby authorizes the Administrative Agent to execute and deliver (or instruct the Collateral Agent to execute and deliver) to the Borrower, at the Borrower’s sole cost and expense, any and all releases of Liens, termination statements,
assignments or other documents reasonably requested by the Borrower in connection with any Disposition of Collateral to the extent such Disposition is permitted by the terms of this Agreement or is otherwise authorized by the terms of the Loan
Documents. Upon request by the Administrative Agent at any time, the Lenders will confirm the Administrative Agent’s authority to release and/or subordinate particular types or items of Collateral pursuant to this Article IX. 

  
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 The Administrative Agent shall have no obligation whatsoever to any Lender or any other person to
investigate, confirm or assure that the Collateral exists or is owned by any Credit Party or is cared for, protected or insured or has been encumbered, or that any particular items of Collateral meet the eligibility criteria applicable in respect of
the Loans hereunder, or that the liens and security interests granted to the Administrative Agent pursuant hereto or any of the Loan Documents or otherwise have been properly or sufficiently or lawfully created, perfected, protected or enforced or
are entitled to any particular priority, or to exercise at all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of the rights, authorities and powers granted or available to the
Administrative Agent in this Agreement or in any of the other Loan Documents, it being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, subject to the other terms and conditions contained
herein, the Administrative Agent shall have no duty or liability whatsoever to any other Lender. 
 The Administrative Agent and each Lender
hereby appoint each other as agent for the purpose of perfecting the Administrative Agent’s security interest in assets which, in accordance with the Uniform Commercial Code in any applicable jurisdiction, can be perfected by possession or
control. Should any Lender (other than the Administrative Agent) obtain possession or control of any such assets, such Lender shall notify the Administrative Agent thereof, and, promptly upon the Administrative Agent’s request therefor, shall
deliver such assets to the Administrative Agent or in accordance with the Administrative Agent’s instructions or transfer control to the Administrative Agent in accordance with the Administrative Agent’s instructions. Each Lender agrees
that it will not have any right individually to enforce or seek to enforce any Security Instrument or to realize upon any Collateral for the Loans unless instructed to do so by the Administrative Agent (or consented to by Administrative Agent, as
provided in Section 7.08), it being understood and agreed that such rights and remedies may be exercised only by Administrative Agent. 

Section 9.07    Resignation and Removal of Administrative Agent. 

(a)    The Administrative Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such
resignation, the Majority Lenders shall have the right, with the consent of the Borrower (which consent shall not be unreasonably withheld or delayed), to appoint a successor; provided that no consent of the Borrower shall be required if any
Event of Default has occurred and is continuing. If no successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its
resignation (or such earlier date as shall be agreed by the Majority Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which
shall be a bank with an office in Chicago, Illinois or New York, New York, or an Affiliate of any such bank that is a financial institution. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor which shall include
execution by such successor Administrative Agent of a Joinder Supplement (as defined in the Swap Intercreditor Agreement), such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring
Administrative Agent. If no successor administrative agent has accepted appointment as Administrative Agent by the date which is thirty (30) days following a retiring Administrative Agents notice of resignation, the retiring Administrative
Agent’s resignation shall nevertheless thereupon become effective. For the avoidance of doubt, any resignation of the Administrative Agent shall also constitute a resignation of the Administrative Agent in its capacity as “Collateral
Agent” or “collateral agent” under the Loan Documents. 
 (b)    The Majority Lenders may by notice to
the Borrower remove the Administrative Agent and, in consultation with the Borrower, appoint a successor. If no successor administrative agent shall have been appointed by the Majority Lenders and shall have accepted such appointment within twenty
(20) days (or such earlier date as shall be agreed by the Majority Lenders (the “Removal Effective Date”)) which acceptance shall include execution by such successor Administrative Agent of a Joinder Supplement (as

  
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defined in the Swap Intercreditor Agreement), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date. For the avoidance of doubt, any
removal of the Administrative Agent shall also constitute a removal of the Administrative Agent in its capacity as “Collateral Agent” or “collateral agent” under the Loan Documents, subject to the terms of the Swap Intercreditor
Agreement. 
 (c)    With the effect of the Resignation Effective Date or the Removal Effective Date, the Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to
each Lender directly and the Majority Lenders shall perform all of the duties of the Administrative Agent hereunder until such time, if any, as the Majority Lenders appoint a successor as provided for above. After the Administrative Agent’s
resignation or removal hereunder, the provisions of this Article and Section 10.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective
Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 

Section 9.08    Non-Reliance on Administrative Agent and Other
Lenders. Each Lender acknowledges and agrees that the extensions of credit made hereunder are commercial loans and not investments in a business enterprise or securities. Each Lender further represents that it is engaged in making, acquiring
or holding commercial loans in the ordinary course of its business and has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement as a Lender, and to make, acquire or hold Loans hereunder. Each Lender shall, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents
and information (which may contain material, non-public information within the meaning of the United States securities laws concerning the Borrower and its Affiliates) as it shall from time to time deem
appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any related agreement or any document furnished hereunder or thereunder and in deciding whether or to the extent to which it will
continue as a lender or assign or otherwise transfer its rights, interests and obligations hereunder. 

Section 9.09    Administrative Agent May File Proofs of Claim. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Borrower or any Subsidiary, the Administrative Agent (irrespective of whether the principal of any
Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such
proceeding or otherwise: 
 (a)    to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans and all other Indebtedness that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim
for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Section 10.03 of
this Agreement allowed in such judicial proceeding); and 
 (b)    to collect and receive any monies or other property
payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the

  
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Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and their agents and counsel, and any
other amounts due the Administrative Agent under Section 10.03. 
 Nothing contained herein shall be deemed to
authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Indebtedness or the rights of any Lender or to authorize the
Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 
 Anything contained in any of the Loan
Documents to the contrary notwithstanding, Borrower, Administrative Agent and each Secured Party hereby agree that (i) no Secured Party shall have any right individually to realize upon any of the Collateral or to enforce the Guaranty, it being
understood and agreed that all powers, rights and remedies hereunder and under any of the Loan Documents may be exercised solely by Administrative Agent, for the benefit of the Secured Parties in accordance with the terms hereof and thereof and all
powers, rights and remedies under the Security Documents may be exercised solely by the Administrative Agent for the benefit of the Secured Parties in accordance with the terms thereof, and (ii) in the event of a foreclosure or similar
enforcement action by Administrative Agent on any of the Collateral pursuant to a public or private sale or other disposition (including, without limitation, pursuant to Section 363(k), Section 1129(b)(2)(a)(ii) or otherwise of the Bankruptcy Code),
Administrative Agent (or any Lender, except with respect to a “credit bid” pursuant to Section 363(k), Section 1129(b)(2)(a)(ii) or otherwise of the Bankruptcy Code,) may be the purchaser or licensor of any or all of such Collateral at any
such sale or other disposition and Administrative Agent, as agent for and representative of Secured Parties (but not any Lender or Lenders in its or their respective individual capacities) shall be entitled, upon instructions from Majority Lenders,
for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such sale or disposition, to use and apply any of the Obligations as a credit on account of the purchase price for
any collateral payable by Administrative Agent at such sale or other disposition. The Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Majority Lenders, to credit bid all or any portion of the Secured
Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the Secured Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through one or more
acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 thereof, or any similar laws in any other jurisdictions to
which a Credit Party is subject, (b) at any other sale or foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in
accordance with any applicable law. In connection with any such credit bid and purchase, the Secured Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Secured Obligations with
respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim
amount used in allocating the contingent interests) in the asset or assets so purchased (or in the Capital Stock or debt instruments of the acquisition vehicle or vehicles that are used to consummate such purchase). In connection with any such
bid (i) the Administrative Agent shall be authorized to form one or more acquisition vehicles to make a bid, (ii) to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the
Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or Capital Stock thereof shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the
termination of this Agreement and without giving effect to the limitations on actions by the Majority Lenders contained in Section 10.02), (iii) the Administrative Agent shall be authorized to assign the relevant Secured
Obligations to any such acquisition vehicle pro rata by the Lenders, as a result of which each of the Lenders shall be deemed to have received a pro rata portion of any Capital Stock and/or debt instruments issued by such an acquisition vehicle on
account of the assignment of the Secured Obligations to be credit bid, all without the need for any Secured Party or acquisition vehicle to take any further action, and (iv) to the extent 

  
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that Secured Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of
Secured Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the acquisition vehicle or otherwise), such Secured Obligations shall automatically be reassigned to the Lenders pro rata and the Capital Stock and/or
debt instruments issued by any acquisition vehicle on account of the Secured Obligations that had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any Secured Party or any acquisition vehicle to take
any further action. 
 ARTICLE X. 

MISCELLANEOUS 

Section 10.01    Notices. 

(a)    Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to
paragraph (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy or email, as follows:

 (i)    if to the Borrower, to Gastar Exploration Inc., 1331 Lamar, Suite 650, Houston, Texas 77010,
Attention: Michael A. Gerlich, Senior Vice President and Chief Financial Officer, Facsimile No. (713) 739-0458, email: mgerlich@gastar.com and Trent Determann, Vice-President Finance, Facsimile
No. (713) 739-0458, email: tdetermann@gastar.com; 

(ii)    if to the Administrative Agent, to Wilmington Trust, National Association, Rodney Square, 1100
North Market Street, Wilmington, DE 19890, Attention: Jennifer K. Anderson, Facsimile No. (302) 636-4145, email: JKAnderson@wilmingtontrust.com, with a copy to Arnold & Porter Kaye Scholer LLP,
250 West 55th Street, New York, NY 10019, Attention: Alan Glantz, Facsimile No, (212) 836-6763, email: Alan.Glantz@APKS.com; and 

(iii)    if to any other Lender, to its address (or telecopy number) set forth in its Administrative
Questionnaire. 
 (b)    Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communications pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable
Lender. The Administrative Agent or the Borrower may, in their discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures
may be limited to particular notices or communications. 
 (c)    Any party hereto may change its address or telecopy
number or email address for notices and other communications hereunder by written notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed
to have been given on the date of receipt if received during the recipient’s normal business hours. 

(d)    Borrower hereby acknowledges that (i) the Administrative Agent may make available to the Lenders materials
and/or information provided by or on behalf of Borrower hereunder (collectively, the “Borrower Materials”) by posting the Borrower Materials on SyndTrak, Intralinks or another similar electronic system (the “Platform”),
(ii) the Administrative Agent may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be
limited to particular notices or 

  
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communications, and (iii) certain of the Lenders may be “public-side” Lenders (i.e., Lenders, or representatives thereof, that do not wish to receive material nonpublic information
with respect to Borrower or its securities) (each, a “Public Lender”). Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC”
which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC”, Borrower shall be deemed to have authorized the Administrative Agent and
the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to Borrower or its securities for purposes of United States Federal and state securities laws (provided, however, that to
the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 10.12); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform
designated as “Public Investor”; and (z) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not marked as
“Public Investor”. Notwithstanding the foregoing, the following Borrower Materials shall be marked “PUBLIC”, unless Borrower notifies the Administrative Agent in writing promptly (after being given a reasonable opportunity to
review such Borrower Materials) that any such document contains material non-public information: (1) the Loan Documents and (2) notification of changes in the terms of the Loan Documents. 

(e)    THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. NEITHER THE ADMINISTRATIVE AGENT NOR ANY
OF ITS RELATED PARTIES WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR
STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE ADMINISTRATIVE AGENT
OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY CREDIT PARTY, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY
KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY CREDIT PARTY’S OR THE ADMINISTRATIVE
AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL AND NON-APPEALABLE RULING BY A COURT OF COMPETENT JURISDICTION TO
HAVE RESULTED FROM SUCH PERSON’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 
 Section 10.02    Waivers;
Amendments. 
 (a)    No failure or delay by the Administrative Agent or any Lender in exercising any right or
power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or
the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this
Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of the Loans shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent or any Lender may have had
notice or knowledge of such Default at the time. 

  
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 (b)    None of this Agreement, any other Loan Document or any provision
hereof or thereof may be waived, amended or modified, and no consent to any departure by the Borrower or any other Credit Party therefrom shall be effective, except pursuant to an agreement or agreements in writing entered into by the Credit Parties
and the Majority Lenders, and acknowledged by the Administrative Agent or Collateral Agent (as applicable), or by the Credit Parties and the Administrative Agent or Collateral Agent (as applicable) in each case with the consent of the Majority
Lenders; provided that no such agreement shall: 
 (i)    increase the Commitment of any Lender
without the written consent of such Lender; 
 (ii)    reduce the principal amount of any Loan or reduce
the rate of interest thereon, or reduce any fees or premium payable hereunder, without the written consent of each Lender affected thereby; 

(iii)    postpone the scheduled date of payment of the principal amount of any Loan, or any interest
thereon, or any fees or premium payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any of the Aggregate Commitment, without the written consent of each Lender affected
thereby (it being understood that any waiver of a mandatory prepayment of the Loans shall not constitute a postponement or waiver of a scheduled payment or date of expiration); 

(iv)    change Section 2.13(b) or Section 2.13(c) in a manner that would alter the pro rata sharing of
payments required thereby, without the written consent of each Lender; 
 (v)    except in connection
with any Dispositions permitted in Section 6.05, release any Guarantor from its obligations under Article VII or release any of the Collateral without the written consent of each Lender; 

(vi)    change any of the provisions of this Section or the definition of “Majority Lenders” or
any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender; or 

(vii)     change (x) the definition of “Qualified Counterparty”, “Secured
Obligations”, “Secured Party” or “Swap Intercreditor Agreement” in any manner adverse to the Qualified Counterparties, (y) Section 6.08, or (z) Section 9.07 in any manner that would eliminate or waive the
requirements for a successor administrative agent hereunder to execute and deliver a Joinder Supplement (as defined in the Swap Intercreditor Agreement), in either case, without the written consent of each Qualified Counterparty; 

provided further that (i) no such agreement shall amend, modify or otherwise affect the rights or duties of the
Administrative Agent hereunder without the prior written consent of the Administrative Agent and (ii) the Fee Letter may only be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. 

(c)    Notwithstanding anything to the contrary contained in this Section 10.02, the Administrative Agent may, with
the consent of the Borrower only, amend, modify or supplement this Agreement or any of the other Loan Documents to correct any clerical errors or cure any ambiguity, omission, mistake, defect or inconsistency. 

  
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 Section 10.03    Expenses; Indemnity; Damage Waiver. 

(a)    The Borrower shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent, the Majority Lenders and each of their respective Affiliates, including the reasonable fees, charges and disbursements of counsel for the
Administrative Agent and the Majority Lenders, in connection with the preparation and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof (whether or not the transactions
contemplated hereby or thereby shall be consummated); provided that the Borrower’s obligation to pay such costs of the Majority Lenders (and not the Administrative Agent) incurred through the Effective Date is subject to, and included
within, the cap set forth in Section 10.7 of the Securities Purchase Agreement, and (ii) all reasonable and documented out-of-pocket expenses incurred by the
Administrative Agent, the Majority Lenders or any other Lender, including the reasonable fees, charges and disbursements of any counsel for the Administrative Agent, the Majority Lenders or any other Lender, in connection with the enforcement or
protection of its rights in connection with this Agreement, including its rights under this Section, or in connection with the Loans made hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

(b)    THE CREDIT PARTIES SHALL INDEMNIFY THE ADMINISTRATIVE AGENT, THE LEAD LENDER AND EACH OTHER LENDER, AND EACH
RELATED PARTY OF ANY OF THE FOREGOING PERSONS (EACH SUCH PERSON BEING CALLED AN “INDEMNITEE”) AGAINST, AND HOLD EACH INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES AND RELATED EXPENSES, INCLUDING THE
FEES, CHARGES AND DISBURSEMENTS OF ANY COUNSEL FOR ANY INDEMNITEE, INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF (I) THE EXECUTION OR DELIVERY OF THIS AGREEMENT OR ANY AGREEMENT OR
INSTRUMENT CONTEMPLATED HEREBY, THE PERFORMANCE BY THE PARTIES HERETO OF THEIR RESPECTIVE OBLIGATIONS HEREUNDER OR THE CONSUMMATION OF THE TRANSACTIONS OR ANY OTHER TRANSACTIONS CONTEMPLATED HEREBY, (II) ANY LOAN OR THE USE OF THE PROCEEDS
THEREFROM, (III) ANY ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS MATERIALS ON OR FROM ANY PROPERTY OWNED OR OPERATED BY THE BORROWER OR ANY SUBSIDIARY, OR ANY OTHER ENVIRONMENTAL LIABILITY RELATED IN ANY WAY TO THE BORROWER OR ANY
SUBSIDIARY, OR (IV) ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION, INVESTIGATION OR PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER OR NOT SUCH CLAIM, LITIGATION, INVESTIGATION OR PROCEEDING IS BROUGHT BY A CREDIT PARTY, ANY EQUITY HOLDERS
OF A CREDIT PARTY, ANY AFFILIATES OF A CREDIT PARTY, ANY CREDITORS OF A CREDIT PARTY OR ANY OTHER THIRD PERSON AND WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY THERETO; PROVIDED THAT
SUCH INDEMNITY SHALL NOT, AS TO ANY INDEMNITEE, BE AVAILABLE TO THE EXTENT THAT SUCH LOSSES, CLAIMS, DAMAGES, LIABILITIES OR RELATED EXPENSES ARE DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND NONAPPEALABLE JUDGMENT TO HAVE RESULTED
FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH INDEMNITEE OR, SOLELY IN THE CASE OF A LENDER, FROM A CLAIM BROUGHT BY A CREDIT PARTY AGAINST SUCH LENDER FOR MATERIAL BREACH IN BAD FAITH OF SUCH LENDER’S OBLIGATIONS UNDER THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENTS. FOR THE AVOIDANCE OF DOUBT, WITH RESPECT TO THE FOREGOING PROVISO “ANY INDEMNITEE” MEANS ONLY THE INDEMNITEE OR INDEMNITEES, AS THE CASE MAY BE, THAT ARE DETERMINED BY SUCH COURT IN SUCH JUDGMENT TO HAVE BEEN
GROSSLY NEGLIGENT OR TO HAVE ENGAGED IN WILLFUL MISCONDUCT OR, SOLELY IN THE CASE OF A LENDER, MATERIALLY BREACHED THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN BAD FAITH AND NOT ANY OTHER INDEMNITEE. THIS SECTION 10.03(b) SHALL NOT APPLY WITH
RESPECT TO TAXES (WHICH ARE SUBJECT TO SECTION 2.12 HEREOF) OTHER THAN ANY TAXES THAT REPRESENT LOSSES, CLAIMS OR DAMAGES ARISING FROM ANY NON-TAX CLAIM. 

  
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 (c)    To the extent that any Credit Party fails to pay any amount required
to be paid by it to the Administrative Agent (or any sub-agent thereof) or any Related Party thereof under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative
Agent (or any such sub-agent thereof) or such Related Party of the Administrative Agent, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought (or if such unreimbursed amount or indemnity payment is sought after the date on which the Loans have been paid in full, in accordance with such Lender’s Applicable Percentage immediately prior to the date
on which the Loans are paid in full)) of such unpaid amount. If any indemnity furnished to Administrative Agent for any purpose shall, in the opinion of the Administrative Agent, be insufficient or become impaired, the Administrative Agent may
call for additional indemnity and cease, or not commence, to do the acts indemnified against even if so directed by Majority Lenders, until such additional indemnity is furnished. Each Lender hereby authorizes the Administrative Agent to set off and
apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any source against any amount due to the Administrative Agent under this paragraph (c). 

(d)    To the extent permitted by applicable law, no party hereto shall assert, and each such party hereby waives, any
claim against any other party hereto on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement
or instrument contemplated hereby, the Transactions, the Loans or the use of the proceeds thereof; provided that, nothing in this clause (d) shall relieve the Borrower of any obligation it may have to indemnify an Indemnitee against
special, indirect, consequential or punitive damages asserted against such Indemnitee by a third party. 
 (e)    The
Lenders acknowledge and agree that all indemnification obligations of the “Administrative Agent” to the “Collateral Agent” or any sub-agent thereof or any Related Party of the
“Collateral Agent” or any sub-agent thereof under Section 19(b) of the Swap Intercreditor Agreement shall (i) notwithstanding anything to the contrary provided in the Swap Intercreditor
Agreement, be obligations of the Lenders (and not the Administrative Agent) to the “Collateral Agent” and such other Persons (payable by the Lenders in accordance with their respective Applicable Percentages (determined as of the time that
the indemnity payment is sought (or if such indemnity payment is sought after the date on which the Loans have been paid in full, in accordance with each Lender’s Applicable Percentage immediately prior to the date on which the Loans are paid
in full)) and (ii) the Administrative Agent and the “Collateral Agent” under the Swap Intercreditor Agreement may directly enforce such indemnification obligations against the Lenders (and each Lender hereby authorizes the
Administrative Agent and the “Collateral Agent” to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent or the “Collateral Agent” to the
Lender from any source against any amount due to the “Collateral Agent” under this paragraph (e). 

(f)    All amounts due under this Section shall be payable not later than 10 days after written demand therefor. 

(g)    The agreements in this Section 10.03 shall survive the resignation or removal of the Administrative Agent, the
replacement of any Lender, the termination of this Agreement and the repayment, satisfaction or discharge of the Secured Obligations. 

Section 10.04    Successors and Assigns. 

(a)    The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby, except that (i) no Credit Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender and the Administrative Agent (and
any attempted assignment or transfer by such Credit Party without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or 

  
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obligations hereunder except in accordance with this Section. Except as set forth in Section 10.22 below, nothing in this Agreement, expressed or implied, shall be construed to confer upon
any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of
each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b)     

(i)    Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more
Persons (other than an Ineligible Institution) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not
to be unreasonably withheld) of (A) the Administrative Agent and (B) if no Event of Default has occurred and is continuing, the Borrower. 

(ii)    Assignments shall be subject to the following additional conditions: 

(A)    except in the case of an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or an
assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with
respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 unless each of the Borrower and the Administrative Agent otherwise consent, provided that no such consent of the Borrower shall be required
if an Event of Default has occurred and is continuing; 
 (B)    each partial assignment shall be made
as an assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of such Lender’s Commitment and such Lender’s Loans under this Agreement; 

(C)    the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment
and Assumption, together with a processing and recordation fee of $3,500; and 
 (D)    the assignee, if
it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and any tax forms required under Section 2.12. 

For the purposes of this Section 10.04(b), the term “Approved Fund” and “Ineligible Institution” have the
following meanings: 
 “Approved Fund” means any Person (other than a natural person) that is engaged in making,
purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate
of an entity that administers or manages a Lender. 
 “Ineligible Institution” means a (a) natural person,
(b) company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person or relative(s) thereof or (c) or the Borrower or any of its Affiliates. 

  
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 (iii)    Subject to acceptance and recording thereof pursuant
to paragraph (b)(iv) of this Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption,
have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Section 2.11,
Section 2.12 and Section 10.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 10.04 shall be treated for purposes of this Agreement as a sale by such
Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section except that any attempted assignment or transfer by any Lender that does not comply with clause (C) of Section 10.04(b)(ii) shall be
null and void. 
 (iv)    The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and
the Commitment and the Applicable Percentage of, and principal amount (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be
conclusive, and the Credit Parties, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice
to the contrary. The Register shall be available for inspection by the Credit Parties and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(v)    Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and
an assignee, the assignee’s completed Administrative Questionnaire and any applicable tax forms (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section, and
any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if either
the assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to Section 2.04, Section 2.13(d) or Section 10.03(c), the Administrative Agent shall have no obligation to accept such Assignment and
Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be effective for purposes of this Agreement unless it has been
recorded in the Register as provided in this paragraph. 
 (c)     

(i)    Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations
to one or more banks or other entities (a “Participant”), other than an Ineligible Institution, in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and
the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (C) the Borrower, the Administrative Agent, and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or
instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to 

  
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any amendment, modification or waiver described in the first proviso to Section 10.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each
Participant shall be entitled to the benefits of Section 2.11 and Section 2.12 (subject to the requirements and limitations therein, including the requirements under Section 2.12(f) (it being understood, however, that the documentation
required under Section 2.12(f) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such
Participant shall not be entitled to receive any greater payment under Section 2.11 or Section 2.12, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such
entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 10.08 as though it were a Lender, provided that such Participant agrees to be subject to Section 2.13(c) as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans
or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any
Participant or any information relating to a Participant’s interest in any Commitments, Loans or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such
Commitment, Loan or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each
Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as
Administrative Agent) shall have no responsibility for maintaining a Participant Register. 
 (d)    Any Lender may at
any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank or
other central banking authority, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (e)    The Administrative
Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Ineligible Institutions. Without limiting the generality of the foregoing,
the Administrative Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or prospective Lender or Participant is an Ineligible Institution or (y) have any liability with respect to or
arising out of any assignment or participation of Loans, or disclosure of confidential information, to any Ineligible Institution. 

Section 10.05    Survival. All covenants, agreements, representations and warranties made by the Credit
Parties herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this
Agreement and the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect
representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee, premium or any other amount payable under this Agreement
is outstanding and so long as the Aggregate Commitment has not expired or terminated. The provisions of Section 2.11, Section 2.12, Section 10.03, Section 10.22, Article VII and Article IX shall survive and remain

  
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in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Aggregate Commitment or the
termination of this Agreement or any provision hereof. 
 Section 10.06    Counterparts; Integration;
Effectiveness; Electronic Execution. 
 (a)    This Agreement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and any separate letter agreements with respect to fees payable
to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG 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. This Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken
together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 

(b)    Delivery of an executed counterpart of a signature page of this Agreement by telecopy, emailed pdf. or any other
electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution,” “signed,” “signature,”
“delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of
records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act. 
 Section 10.07    Severability. Any provision of this Agreement held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining
provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

Section 10.08    Right of Setoff. If an Event of Default shall have occurred and be continuing,
each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time
held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the obligations of any Credit Party now or hereafter existing under this Agreement held by such
Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section and Section 7.08 are in addition to other rights and
remedies (including other rights of setoff) which such Lender may have. 

  
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 Section 10.09    GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE
OF PROCESS. 
 (a)    THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK. 
 (b)    EACH CREDIT PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS
PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE SUPREME COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY, BOROUGH OF MANHATTAN, AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY
THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH
ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY
BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING
RELATING TO THIS AGREEMENT AGAINST ANY CREDIT PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (c)    EACH
CREDIT PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH
ACTION OR PROCEEDING IN ANY SUCH COURT. 
 (d)    EACH PARTY TO THIS AGREEMENT IRREVOCABLY CONSENTS TO SERVICE OF
PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.01. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

Section 10.10     WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Section 10.11    Headings. Article and Section headings and the Table of Contents used herein
are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

  
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 Section 10.12    Confidentiality. Each of the
Administrative Agent and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including
accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to
the extent requested by any regulatory authority (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by Requirements of Law or by any subpoena or similar legal
process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an
agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any
actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Credit Parties and their obligations, (g) with the consent of the Borrower or (h) to the extent such Information (i) becomes
publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or any Lender on a nonconfidential basis from a source other than a Credit Party. For the purposes of this Section,
“Information” means all information received from any Credit Party relating to any Credit Party or its business, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis
prior to disclosure by any Credit Party; provided that, in the case of information received from any Credit Party after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to
maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as
such Person would accord to its own confidential information. 
 Section 10.13    Material Non-Public Information. 
 (a)    EACH LENDER ACKNOWLEDGES THAT
INFORMATION AS DEFINED IN SECTION 10.12 FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES,
AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC
INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. 

(b)    ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER OR THE ADMINISTRATIVE
AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER, THE CREDIT PARTIES AND THEIR
RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN
MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW. 

Section 10.14    Authorization to Distribute Certain Materials to
Public-Siders. 
 (a)    If the Borrower does not file this Agreement with the SEC, then the
Borrower hereby authorizes the Administrative Agent to distribute the execution version of this Agreement and the Loan Documents to all Lenders, including their Public-Siders. The Borrower acknowledges its understanding that Public-Siders and their
firms may be trading in any of the Parties’ respective securities while in possession of the Loan Documents. 

  
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 (b)    The Borrower represents and warrants that none of the information in
the Loan Documents constitutes or contains material non-public information within the meaning of the federal and state securities laws. To the extent that any of the executed Loan Documents constitutes at any time a material non-public information
within the meaning of the federal and state securities laws after the date hereof, the Borrower agrees that it will promptly make such information publicly available by press release or public filing with the SEC. 

Section 10.15    Interest Rate Limitation. Notwithstanding anything herein to the contrary, if
at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful
rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together
with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this
Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the
Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. In the event that, notwithstanding Section 10.09, applicable law is the law of the State of Texas and such applicable law provides for an interest
ceiling under Chapter 303 of the Texas Finance Code (the “Texas Finance Code”) as amended, for each day, the ceiling shall be the “weekly ceiling” as defined in the Texas Finance Code and shall be used in this Note and the
other Loan Documents for calculating the Maximum Rate and for all other purposes. Chapter 346 of the Texas Finance Code (which regulates certain revolving credit accounts (formerly Tex. Rev. Civ. Stat. Ann. Art. 5069, Ch. 15)) shall not apply to
this Agreement or to any Loan, nor shall this Agreement or any Loan be governed by or be subject to the provisions of such Chapter 346 in any manner whatsoever. 

Section 10.16    USA PATRIOT Act. Each Lender that is subject to the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) and the Administrative Agent hereby notifies each Credit Party that pursuant to
the requirements of the Act, it is required to obtain, verify and record information that identifies each Credit Party, which information includes the name and address of each Credit Party and other information that will allow such Lender or the
Administrative Agent to identify each Credit Party in accordance with the Act. 

Section 10.17    Release of Guarantees and Liens. 

(a)    At such time as the Loans and the other obligations under the Loan Documents (other than contingent indemnification
obligations) shall have been paid in full and the Aggregate Commitment has been terminated, the Collateral shall, subject to the Swap Intercreditor Agreement, be released from the Liens created by the Security Documents, and the Security Documents
and all obligations (other than those expressly stated to survive such termination) of each Credit Party under the Security Documents shall terminate, all without delivery of any instrument or performance of any act by any Person; and 

(b)    If any of the Collateral shall be sold, transferred or otherwise disposed of by the Borrower or any Subsidiary in a
transaction permitted by this Agreement, then the Administrative Agent, at the request and sole expense of the Borrower or any Subsidiary, shall, subject to the Swap Intercreditor Agreement, execute and deliver to the Borrower or any Subsidiary all
releases or other documents reasonably necessary or desirable for the release of the Liens created by the Security Documents on such Collateral. At the request and sole expense of the Borrower, a Guarantor shall be released from its obligations
hereunder and, subject 

  
 Page 84 

 
to the Swap Intercreditor Agreement, under the other Security Documents in the event that all the Capital Stock of such Guarantor shall be Disposed of in a transaction permitted by this
Agreement; provided that, in the case of this sentence and the immediately prior sentence, the Borrower shall have delivered to the Administrative Agent, at least five (5) Business Days prior to the date of the proposed release, a
written request for release identifying the relevant Guarantor and the terms of the Disposition in reasonable detail, including the price thereof and any anticipated expenses in connection therewith, together with a certification by the Borrower
stating that such transaction is in compliance with this Agreement and the other Loan Documents (and the Lenders hereby authorize and direct the Administrative Agent to conclusively rely on such certifications in performing its obligations under
this Section 10.17). 
 Section 10.18    Amendment and Restatement. 

(a)    On the Effective Date, the Existing Credit Agreement shall be amended and restated in its entirety by this
Agreement, and the Existing Credit Agreement shall thereafter be of no further force and effect, except that the Borrower, the Guarantors, the Administrative Agent and the Lenders agree that (i) the incurrence by the Borrower of
“Obligations” under and as defined in the Existing Credit Agreement (whether or not such “Obligations” are contingent as of the Effective Date) shall continue to exist under and be evidenced by this Agreement and the other Loan
Documents and (ii) except as expressly stated herein or otherwise amended, the other Loan Documents are ratified and confirmed as remaining unmodified and in full force and effect with respect to all Obligations. This Agreement is not in any
way intended to constitute a novation of the obligations and liabilities existing under the Existing Credit Agreement or evidence payment of all or any portion of such obligations and liabilities. Each Lender, by delivering its signature page hereto
and funding its Loans on the Effective Date, shall be deemed hereby to accept an assignment and assumption of its Applicable Percentage of the “Obligations” under and as defined in the Existing Credit Agreement which, for the avoidance of
doubt, is a part of and not in addition to such Lender’s Commitment as reflected on Schedule 2.01 hereto. 

(b)    The terms and conditions of this Agreement and the Administrative Agent’s and the Lenders’ rights and
remedies under this Agreement and the other Loan Documents shall apply to all of the Indebtedness incurred under the Existing Credit Agreement. 

(c)    On and after the Effective Date, (i) all references to the Existing Credit Agreement (or to any amendment or
any amendment and restatement thereof) in the Loan Documents (other than this Agreement) shall be deemed to refer to the Existing Credit Agreement, as amended and restated hereby (as it may be further amended, modified or restated) and (ii) all
references to any section (or subsection) of the Existing Credit Agreement or in any Loan Document (but not herein) shall be amended to become, mutatis mutandis, references to the corresponding provisions of this Agreement. 

(d)    Except as expressly provided herein or in any other Loan Document, all terms and conditions of the Loan Documents
remain in full force and effect unless specifically amended hereby or by any other Loan Document. 

Section 10.19    Swap Intercreditor Agreement. In the event of a conflict between
the provisions of any of the Loan Documents and the provisions of the Swap Intercreditor Agreement, the provisions of the Swap Intercreditor Agreement shall govern and control. 

Section 10.20    INTERCREDITOR AGREEMENTS. REFERENCE IS MADE TO THE
INTERCREDITOR AGREEMENT AND THE SWAP INTERCREDITOR AGREEMENT. EACH LENDER HEREUNDER (a) CONSENTS TO THE TERMS OF THE INTERCREDITOR AGREEMENT AND THE SWAP INTERCREDITOR AGREEMENT, (b) AGREES THAT IT WILL BE BOUND BY AND WILL TAKE NO ACTIONS
CONTRARY TO THE PROVISIONS OF THE INTERCREDITOR AGREEMENT AND THE SWAP INTERCREDITOR AGREEMENT AND (c) AUTHORIZES AND 

  
 Page 85 

 
DIRECTS THE ADMINISTRATIVE AGENT (IN ITS CAPACITY AS “PRIORITY LIEN AGENT” UNDER THE INTERCREDITOR AGREEMENT AND IN ITS CAPACITIES AS “ADMINISTRATIVE AGENT” AND
“COLLATERAL AGENT” UNDER THE SWAP INTERCREDITOR AGREEMENT) TO ENTER INTO THE INTERCREDITOR AGREEMENT AND THE SWAP INTERCREDITOR AGREEMENT ON BEHALF OF SUCH LENDER. THE PROVISIONS OF THIS SECTION 10.20 ARE NOT INTENDED TO SUMMARIZE ALL
RELEVANT PROVISIONS OF THE INTERCREDITOR AGREEMENT AND THE SWAP INTERCREDITOR AGREEMENT. REFERENCE MUST BE MADE TO EACH OF THE INTERCREDITOR AGREEMENT AND THE SWAP INTERCREDITOR AGREEMENT ITSELF TO UNDERSTAND ALL TERMS AND CONDITIONS THEREOF. EACH
LENDER IS RESPONSIBLE FOR MAKING ITS OWN ANALYSIS AND REVIEW OF THE INTERCREDITOR AGREEMENT AND THE SWAP INTERCREDITOR AGREEMENT AND THE TERMS AND PROVISIONS THEREOF, AND NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS AFFILIATES MAKES ANY
REPRESENTATION TO ANY LENDER AS TO THE SUFFICIENCY OR ADVISABILITY OF THE PROVISIONS CONTAINED IN THE INTERCREDITOR AGREEMENT OR THE SWAP INTERCREDITOR AGREEMENT. 

Section 10.21    Master Assignment. Each of the Lenders party hereto hereby
(a) ratifies the appointment of Wilmington Trust as “Mortgagee,” “Secured Party” or “Grantee”, as applicable, under each of the Mortgages, and as “Administrative Agent,” the “Collateral Agent,”
and a “Secured Party” under the Security Instruments and in any other equivalent capacity under each other Loan Document and Security Instrument (with terms defined in this clause (a) having the meanings provided in the Master
Assignment), (b) acknowledges and agrees to the terms and provisions of the Master Assignment (including the collateral release and assignment provisions set forth in Section 14 of the Master Assignment) and (c) agrees to be bound by the
release provisions of Section 14 of the Master Assignment. 
 Section 10.22    Limited Third
Party Beneficiaries. The parties hereto acknowledge and agree that each Secured Party not party to this Agreement (including, for the avoidance of doubt, the Collateral Agent and each Qualified Counterparty and each Initial
Swap ISDA Counterparty satisfying the definition of “Secured Party” hereunder) shall be an express third party beneficiary under Article VII and Section 10.20 of this Agreement and, as such, Article VII and Section 10.20 of this
Agreement will inure to the benefit of each such Secured Party and be enforceable by each such Secured Party and its respective successors and assigns. 

[Signature Page Follows] 

  
 Page 86 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written. 
  

			
	BORROWER:
	
	GASTAR EXPLORATION INC.
		
	By:	 	 /s/ J. Russell Porter

	Name:	 	J. Russell Porter
	Title:	 	President and Chief Executive Officer
	
	GUARANTORS:
	
	NORTHWEST PROPERTY VENTURES LLC
		
	By:	 	 /s/ J. Russell Porter

	Name:	 	J. Russell Porter
	Title:	 	President and Chief Executive Officer

  
 Signature Page to 

Gastar Exploration Inc. Credit Agreement 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Administrative Agent
		
	By:	 	 /s/ Jennifer Anderson

	Name:	 	Jennifer Anderson
	Title:	 	Assistant Vice President

  
 Signature Page to 

Gastar Exploration Inc. Credit Agreement 

 
			
	AF V Energy I Holdings, L.P., as a Lender
		
	By:	 	 /s/ Jesse Yanocha

	Name:	 	Jesse Yanocha
	Title:	 	Authorized Signatory

  
 Signature Page to 

Gastar Exploration Inc. Credit Agreement 

 EXHIBIT A 

ASSIGNMENT AND ASSUMPTION 
 This
Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of
Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, restated, amended and restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by
reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, the Assignor
hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date
inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the
extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the Credit Agreement (including any guarantees included in the Credit Agreement) and (ii) to the
extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit
Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory
claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to
herein collectively as the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor.

  

					
	1.	 	Assignor:	 	                                      
                      
			
	2.	 	Assignee:	 	                                      
                      
		 		 	[and is an Affiliate/Approved Fund of [identify Lender]]
			
	3.	 	Borrower:	 	Gastar Exploration Inc.
			
	4.	 	Administrative Agent:	 	Wilmington Trust, National Association, as the administrative agent under the Credit Agreement
			
	5.	 	Credit Agreement:	 	Third Amended and Restated Credit Agreement, dated as of March 3, 2017 among Gastar Exploration Inc., as Borrower, certain Subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and Wilmington Trust, National
Association, as Administrative Agent
			
	6.	 	Assigned Interest:	 	

  

							
	 Aggregate Commitment/Loans for

all Lenders
	  	Amount of Commitment/Loans
Assigned	 	  	Applicable Percentage of
Commitment/Loans
	 $            
	  	$	            	 	  	    %
	 $            
	  	$	            	 	  	    %
	 $            
	  	$	            	 	  	    %

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT A – PAGE 1 

 Effective Date:             
    , 20     
 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	  

	Title:	 	
	
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	  

	Title:	 	

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT A – PAGE 2 

			
	[Consented to and] Accepted:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
as Administrative Agent
		
	By:	 	  

	Title:	 	
	
	[Consented to:]
	
	GASTAR EXPLORATION INC.
		
	By:	 	  

	Title:	 	

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT A – PAGE 3 

 ANNEX 1 

Third Amended and Restated Credit Agreement dated as of March 3, 2017 among Gastar Exploration Inc., as Borrower, certain Subsidiaries of Borrower, as
Guarantors, the Lenders party thereto and Wilmington Trust, National Association, as Administrative Agent. 
 STANDARD TERMS AND CONDITIONS
FOR 
 ASSIGNMENT AND ASSUMPTION 

1.    Representations and Warranties. 

1.1    Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner
of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment
and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan
Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any Collateral thereunder, (iii) the financial condition of the Borrower, any Subsidiary or Affiliates or any
other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any Subsidiary or Affiliates or any other Person of any of their respective obligations under any Loan Document. 

1.2    Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and
has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it is not an Ineligible Institution and
satisfies all other requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the
provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most
recent financial statements delivered pursuant to Section 5.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and
Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (v) if it is a Foreign Lender, attached to the
Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance
on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents,
and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

2.    Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of
the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the
Effective Date. 
 3.    General Provisions. This Assignment and Assumption shall be binding upon, and inure to
the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Acceptance and

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – ANNEX 1 OF EXHIBIT A – PAGE 1 

 
adoption of the terms of this Assignment and Assumption by the Assignee and the Assignor by Electronic Signature or delivery of an executed counterpart of a signature page of this Assignment and
Assumption by any Electronic System shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of
New York. 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – ANNEX 1 OF EXHIBIT A – PAGE 2 

 EXHIBIT B 

FORM OF BORROWING REQUEST 
 Wilmington
Trust, National Association, as Administrative Agent 
 1100 North Market Street 

Wilmington, DE 19890 
 Attn: Jennifer K. Anderson 

Fax No.: (302) 636-4145 

Email address: jkanderson@wilmingtontrust.com 

[Date]                      

Ladies and Gentlemen: 
 The undersigned, GASTAR
EXPLORATION INC., a Delaware corporation (the “Borrower”), refers to that certain Credit Agreement, dated as of March 3, 2017 (as may be amended, restated, amended and restated, replaced, refinanced, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among the Borrower, the Guarantors from time to time party thereto, the Lenders from time to time party thereto, and Wilmington Trust, National Association, as administrative
agent for the Lenders (in such capacity, including any successor thereto, the “Administrative Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit
Agreement. 
 The Borrower hereby gives you notice pursuant to Section 2.03 of the Credit Agreement that it requests a borrowing of
Loans under the Credit Agreement, and in connection therewith sets forth below the terms on which such borrowing is requested to be made: 
  

					
	(A)	 	Date of Borrowing
		 	(which is a Business Day)
                                         
                               
		
	(B)	 	Principal Amount of Borrowing
                                        

		
	(C)	 	 Fundsare requested to be disbursed to the following account of
Borrower:

			
		 	  
	  	
		 	  
	  	
		 	  
	  	

 [Remainder of page intentionally left blank] 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT B – PAGE 1 

 
			
	GASTAR EXPLORATION INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT B – PAGE 2 

 EXHIBIT C 

COUNTERPART AGREEMENT 
 This
COUNTERPART AGREEMENT, dated [                    ] (this “Counterpart Agreement”) is delivered pursuant to
that certain Third Amended and Restated Credit Agreement, dated as of March 3, 2017 (as it may be amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”; the terms defined therein and
not otherwise defined herein being used herein as therein defined), by and among Gastar Exploration Inc., as Borrower, certain Subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and Wilmington Trust, National Association, as
Administrative Agent (the “Administrative Agent”). 
 Section 1. Pursuant to Section 5.14 of
the Credit Agreement, the undersigned hereby: 
 (a)     agrees that this Counterpart Agreement may be attached to the
Credit Agreement and that by the execution and delivery hereof, the undersigned becomes a Guarantor under the Credit Agreement and agrees to be bound by all of the terms thereof; 

(b)    represents and warrants that each of the representations and warranties set forth in the Credit Agreement and each
other Loan Document and applicable to the undersigned is true and correct in all material respects both before and after giving effect to this Counterpart Agreement (other than those representations and warranties that are subject to a materiality
qualifier, in which case such representations and warranties shall be true and correct in all respects), except to the extent that any such representation and warranty relates solely to any earlier date, in which case such representation and
warranty is true and correct in all material respect as of such earlier date (other than those representations and warranties that are subject to a materiality qualifier, in which case such representations and warranties shall be true and correct in
all respects as of such earlier date), if applicable to the undersigned; 
 (c)    certifies that no Default has
occurred or is continuing as of the Effective Date, or will result from the transactions contemplated hereby; 

(d)    agrees to irrevocably and unconditionally guaranty the due and punctual payment in full of all Obligations when the
same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the
Bankruptcy Code, 11 U.S.C. § 362(a)) and in accordance with Article VII of the Credit Agreement; and 

(e)    (i) agrees that this counterpart may also be attached to the Security Agreement, (ii) agrees that the
undersigned will comply with all the terms and conditions of the Security Agreement as if it were an original signatory thereto, (iii) grants to the Administrative Agent a security interest in all of the undersigned’s right, title and
interest in and to all “Collateral” (as such term is defined in the Security Agreement) of the undersigned, in each case whether now or hereafter existing or in which the undersigned now has or hereafter acquires an interest and wherever
the same may be located and (iv) delivers to the Administrative Agent supplements to all schedules attached to the Security Agreement. All such Collateral shall be deemed to be part of the “Collateral” and hereafter subject to each of
the terms and conditions of the Security Agreement. 
 Section 2. The undersigned agrees from time to time, upon
request of the Administrative Agent, to take such additional actions and to execute and deliver such additional documents and instruments as the Administrative Agent may reasonably request to effect the transactions contemplated by, and to carry out
the intent of, this Counterpart Agreement. Neither this Counterpart Agreement nor any term hereof may be changed, waived, discharged or terminated, except by an instrument in writing signed by the party (including, if applicable, any party required
to evidence its consent to or acceptance of this Counterpart Agreement) against whom 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT C – PAGE 1 

 
enforcement of such change, waiver, discharge or termination is sought. Any notice or other communication herein required or permitted to be given shall be given pursuant to Section 11.01 of
the Credit Agreement, and for all purposes thereof, the notice address of the undersigned shall be the address as set forth on the signature page hereof. In case any provision in or obligation under this Agreement shall be invalid, illegal or
unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. 

THIS AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF. 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT C – PAGE 2 

 IN WITNESS WHEREOF, the undersigned has caused this Counterpart Agreement to be duly
executed and delivered by its duly authorized officer as of the date above first written. 
  

			
	[NAME OF SUBSIDIARY]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Address for Notices: 
  

                     

                     

                     

Attention:                      

Telecopier:                      

with a copy to: 
  

                     

                     

                     

Attention:                      

Telecopier:                      

 

			
	 ACKNOWLEDGED AND ACCEPTED,
 as of
the date above first written:

	
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Administrative Agent

		
	By:	 	  

	Name:	 	
	Title:	 	

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT C – PAGE 3 

 EXHIBIT D 

FORM OF INTERCREDITOR AGREEMENT 

(See Attached) 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT D – PAGE 1 

 EXHIBIT E 

FORM OF MORTGAGE 
 (See
Attached) 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT E – PAGE 1 

 EXHIBIT F 

FORM OF SECURITY AGREEMENT 

(See Attached) 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT F – PAGE 1 

 EXHIBIT G 

NOTE 
  

			
	New York, New York	  	            ,         

 FOR VALUE RECEIVED, the undersigned GASTAR EXPLORATION INC., a Delaware corporation
(“Borrower”) hereby unconditionally promises to pay to                      (the “Lender”) or its registered
assigns the principal sum equal to its Commitment as set forth in the Credit Agreement (as hereinafter defined), or, if greater or less, the aggregate unpaid principal amount of the Loans advanced by Lender to Borrower pursuant to the terms of the
Credit Agreement, together with interest on the unpaid principal balance thereof as set forth in the Credit Agreement, both principal and interest payable as therein provided in lawful money of the United States of America at the offices of
Administrative Agent provided in Section 11.01 of the Credit Agreement, or at such other place, as from time to time may be designated by Administrative Agent in accordance with the Credit Agreement. 

The principal and all accrued interest on this Note shall be due and payable in accordance with the terms and provisions of the Credit
Agreement. This Note is executed pursuant to that certain Third Amended and Restated Credit Agreement dated as of March 3, 2017, among Borrower, certain Subsidiaries of Borrower, as Guarantors, the Administrative Agent and the Lenders party
thereto (as amended, modified, supplemented or restated from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), is one of the promissory notes
referred to in Section 2.05(e) therein and is secured by the Security Documents. Reference is made to the Credit Agreement and the Loan Documents for a statement of prepayment rights and obligations of Borrower, for a statement of the terms and
conditions under which the due date of this Note may be accelerated and for statements regarding other matters affecting this Note (including without limitation principal and interest payment due dates, voluntary and mandatory prepayments, exercise
of rights and remedies, payment of attorneys’ fees, court costs and other costs of collection and certain waivers by Borrower and others now or hereafter obligated for payment of any sums due hereunder). Upon the occurrence of an Event of
Default, the Administrative Agent may declare forthwith to be entirely and immediately due and payable the principal balance hereof and the interest accrued hereon, and the Lender shall have all rights and remedies of the Lender under the Credit
Agreement and the other Loan Documents. This Note may be prepaid in accordance with the terms and provisions of the Credit Agreement. 

Regardless of any provision contained in this Note, the holder hereof shall never be entitled to receive, collect or apply, as interest on
this Note, any amount in excess of the Maximum Rate, and, if the holder hereof ever receives, collects, or applies as interest, any such amount which would be excessive interest, it shall be deemed a partial prepayment of principal and treated
hereunder as such; and, if the indebtedness evidenced hereby is paid in full, any remaining excess shall forthwith be paid to Borrower. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Maximum
Rate, Borrower and the holder hereof shall, to the maximum extent permitted under applicable law (i) characterize any non-principal payment as an expense, fee or premium rather than as interest,
(ii) exclude voluntary prepayments and the effects thereof, and (iii) spread the total amount of interest throughout the entire contemplated term of the obligations evidenced by this Note and/or referred to in the Credit Agreement so that
the interest rate is uniform throughout the entire term of this Note; provided that, if this Note is paid and performed in full prior to the end of the full contemplated term thereof; and if the interest received for the actual period of
existence thereof exceeds the Maximum Rate, the holder hereof shall refund to Borrower the amount of such excess or credit the amount of such excess against the indebtedness evidenced hereby, and, in such event, the holder hereof shall not be
subject to any penalties provided by any laws for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Rate. 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT G – PAGE 1 

 If any payment of principal or interest on this Note shall become due on a day other than a
Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall in such case be included in computing interest in connection with such payment. 

If this Note is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity or
in bankruptcy, receivership or other court proceedings, Borrower agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys’ fees. 

Borrower and each surety, endorser, guarantor and other party ever liable for payment of any sums of money payable on this Note, jointly and
severally waive presentment and demand for payment, notice of intention to accelerate the maturity, protest, notice of protest and nonpayment, as to this Note and as to each and all installments hereof, and agree that their liability under this Note
shall not be affected by any renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Note, and hereby consent to any and all such renewals, extensions,
indulgences, releases or changes. 
 This Note shall be governed by and construed in accordance with the applicable laws of the United
States of America and the laws of the State of New York. 
 THIS NOTE, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENTS AMONG 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 AMONG THE PARTIES. 

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT G – PAGE 2 

 EXECUTED as of the date and year first above written. 

 

			
	BORROWER:
	
	GASTAR EXPLORATION INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT G – PAGE 3 

 EXHIBIT H-1 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Third Amended and Restated Credit Agreement, dated as of March 3, 2017 (as it may be amended, supplemented,
restated or otherwise modified from time to time, the “Credit Agreement”), by and among Gastar Exploration Inc., as Borrower, certain Subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and Wilmington Trust, National
Association, as Administrative Agent. 
 Pursuant to the provisions of Section 2.12 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any promissory note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of
Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to the Borrower as described in
Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E (or applicable successor form).
By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have
at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years
preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement 
  

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Date:                  , 20[    ]

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT H-1 – PAGE 1 

 EXHIBIT H-2 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Third Amended and Restated Credit Agreement, dated as of March 3, 2017 (as it may be amended, supplemented,
restated or otherwise modified from time to time, the “Credit Agreement”), by and among Gastar Exploration Inc., as Borrower, certain Subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and Wilmington Trust, National
Association, as Administrative Agent. 
 Pursuant to the provisions of Section 2.12 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a
ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person
status on IRS Form W-8BEN or IRS Form W-8BEN-E (or applicable successor form). By executing this certificate, the undersigned
agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Date:                  , 20[    ]

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT H-2 – PAGE 1 

 EXHIBIT H-3 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Third Amended and Restated Credit Agreement, dated as of March 3, 2017 (as it may be amended, supplemented,
restated or otherwise modified from time to time, the “Credit Agreement”), by and among Gastar Exploration Inc., as Borrower, certain Subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and Wilmington Trust, National
Association, as Administrative Agent. 
 Pursuant to the provisions of Section 2.12 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with
respect such participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section
881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a
controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished
its participating Lender with IRS Form W-8IMY (or applicable successor form) accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption:
(i) an IRS Form W-8BEN or IRS Form W-8BEN-E (or applicable successor form) or (ii) an IRS Form W-8IMY (or applicable successor form) accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E
(or applicable successor form) from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in
which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Date:                  , 20[    ]

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT H-3 – PAGE 1 

 EXHIBIT H-4 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Third Amended and Restated Credit Agreement, dated as of March 3, 2017 (as it may be amended, supplemented,
restated or otherwise modified from time to time, the “Credit Agreement”), by and among Gastar Exploration Inc., as Borrower, certain Subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and Wilmington Trust, National
Association, as Administrative Agent. 
 Pursuant to the provisions of Section 2.12 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the Loan(s) (as well as any promissory note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole
beneficial owners of such Loan(s) (as well as any promissory note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct
or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect
partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as
described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY (or applicable successor form) accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E (or applicable successor form) or (ii) an IRS Form W-8IMY (or
applicable successor form) accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E (or applicable successor form) from each of
such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the
calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Date:                  , 20[    ]

  
 GASTAR EXPLORATION INC.
CREDIT AGREEMENT – EXHIBIT H-4 – PAGE 1 

 SCHEDULE 2.01 

COMMITMENTS 
  

									
	 Lender
	  	Commitment	 	  	Percent of Aggregate
Commitment	 
	 AF V Energy I Holdings, L.P.
	  	$	250,000,000.00	 	  	 	100	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL:
	  	$	250,000,000.00	 	  	 	100	%EX-10.4

 Exhibit 10.4 

 
  

 
 INTERCREDITOR AGREEMENT 

dated as of March 3, 2017 between 

Wilmington Trust, National Association, 

as Priority Lien Agent, 
 and 

Wilmington Trust, National Association, 

as Second Lien Agent 
  

 
 THIS IS THE INTERCREDITOR AGREEMENT REFERRED TO IN
(A) THE INDENTURE DATED AS OF MARCH 3, 2017, AMONG GASTAR EXPLORATION INC., CERTAIN OF ITS SUBSIDIARIES FROM TIME TO TIME PARTY THERETO AND WILMINGTON TRUST, NATIONAL ASSOCIATION, AS TRUSTEE AND COLLATERAL TRUSTEE, (B) THE THIRD
AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF MARCH 3, 2017, AS AMENDED, SUPPLEMENTED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, AMONG GASTAR EXPLORATION INC., THE LENDERS FROM TIME TO TIME PARTY THERETO AND WILMINGTON TRUST,
NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT, (C) THE OTHER LOAN DOCUMENTS REFERRED TO IN SUCH CREDIT AGREEMENT AND (D) THE OTHER COLLATERAL AGREEMENTS REFERRED TO IN SUCH INDENTURE. 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I DEFINITIONS	 
			
	 SECTION 1.01
	 	 Construction; Certain Defined Terms
	  	 	1	 
	
	ARTICLE II LIEN PRIORITIES	 
			
	 SECTION 2.01
	 	 Relative Priorities
	  	 	10	 
	 SECTION 2.02
	 	 Prohibition on Marshalling, Etc.
	  	 	11	 
	 SECTION 2.03
	 	 No New Liens
	  	 	11	 
	 SECTION 2.04
	 	 Similar Collateral and Agreements
	  	 	11	 
	
	ARTICLE III ENFORCEMENT RIGHTS; PURCHASE OPTION	 
			
	 SECTION 3.01
	 	 Limitation on Enforcement Action
	  	 	12	 
	 SECTION 3.02
	 	 Standstill Periods; Permitted Enforcement Action
	  	 	12	 
	 SECTION 3.03
	 	 Insurance
	  	 	14	 
	 SECTION 3.04
	 	 Notification of Release of Collateral, Enforcement Action and Default
	  	 	14	 
	 SECTION 3.05
	 	 No Interference; Payment Over
	  	 	15	 
	 SECTION 3.06
	 	 Purchase Option
	  	 	16	 
	
	ARTICLE IV OTHER AGREEMENTS	 
			
	 SECTION 4.01
	 	 Release of Liens; Automatic Release of Second Liens
	  	 	19	 
	 SECTION 4.02
	 	 Certain Agreements With Respect to Insolvency or Liquidation Proceedings
	  	 	20	 
	 SECTION 4.03
	 	 Reinstatement
	  	 	22	 
	 SECTION 4.04
	 	 Refinancings
	  	 	23	 
	 SECTION 4.05
	 	 Amendments to Priority Lien Documents and Second Lien Documents
	  	 	23	 
	 SECTION 4.06
	 	 Legends
	  	 	25	 
	 SECTION 4.07
	 	 Second Lien Secured Parties Rights as Unsecured Creditors; Judgment Lien Creditor
	  	 	25	 
	 SECTION 4.08
	 	 Postponement of Subrogation
	  	 	25	 
	 SECTION 4.09
	 	 Acknowledgment by the Secured Debt Representatives
	  	 	25	 
	
	ARTICLE V GRATUITOUS BAILMENT FOR PERFECTION OF CERTAIN SECURITY INTERESTS	 
			
	 SECTION 5.01
	 	 General
	  	 	26	 
	 SECTION 5.02
	 	 Deposit Accounts
	  	 	26	 
	
	ARTICLE VI APPLICATION OF PROCEEDS; DETERMINATION OF AMOUNTS	 
			
	 SECTION 6.01
	 	 Application of Proceeds
	  	 	27	 
	 SECTION 6.02
	 	 Determination of Amounts
	  	 	27	 

  
 i 

							
	ARTICLE VII NO RELIANCE; NO LIABILITY; OBLIGATIONS ABSOLUTE;	 
	CONSENT OF GRANTORS; ETC.	 
			
	 SECTION 7.01
	 	 No Reliance; Information
	  	 	28	 
	 SECTION 7.02
	 	 No Warranties or Liability
	  	 	28	 
	 SECTION 7.03
	 	 Obligations Absolute
	  	 	29	 
	 SECTION 7.04
	 	 Grantors Consent
	  	 	29	 
	
	ARTICLE VIII REPRESENTATIONS AND WARRANTIES	 
			
	 SECTION 8.01
	 	 Representations and Warranties of Each Party
	  	 	30	 
	 SECTION 8.02
	 	 Representations and Warranties of Each Representative
	  	 	30	 
	
	ARTICLE IX MISCELLANEOUS	 
			
	 SECTION 9.01
	 	 Notices
	  	 	30	 
	 SECTION 9.02
	 	 Waivers; Amendment
	  	 	31	 
	 SECTION 9.03
	 	 Actions Upon Breach; Specific Performance
	  	 	31	 
	 SECTION 9.04
	 	 Parties in Interest
	  	 	32	 
	 SECTION 9.05
	 	 Survival of Agreement
	  	 	32	 
	 SECTION 9.06
	 	 Counterparts
	  	 	32	 
	 SECTION 9.07
	 	 Severability
	  	 	32	 
	 SECTION 9.08
	 	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	32	 
	 SECTION 9.09
	 	 WAIVER OF JURY TRIAL
	  	 	33	 
	 SECTION 9.10
	 	 Headings
	  	 	33	 
	 SECTION 9.11
	 	 Conflicts
	  	 	33	 
	 SECTION 9.12
	 	 Provisions Solely to Define Relative Rights
	  	 	33	 
	 SECTION 9.13
	 	 Certain Terms Concerning the Second Lien Agent
	  	 	34	 
	 SECTION 9.14
	 	 Certain Terms Concerning the Priority Lien Agent and the Second Lien Agent
	  	 	34	 
	 SECTION 9.15
	 	 Authorization of Secured Agents
	  	 	34	 
	 SECTION 9.16
	 	 Further Assurances
	  	 	34	 
	 SECTION 9.17
	 	 Relationship of Secured Parties
	  	 	35	 
	 SECTION 9.18
	 	 Reciprocal Rights (Excess Priority Lien Obligations)
	  	 	35	 
		
	Annex and Exhibits	  	 	 
		
	Annex I	  	 	 
	 Exhibit A - Priority Confirmation Joinder
	  			

  
 ii 

 INTERCREDITOR AGREEMENT, dated as of March 3, 2017 (as amended, supplemented or
otherwise modified from time to time in accordance with the terms hereof, this “Agreement”), between Wilmington Trust, National Association, as administrative agent for the Priority Lien Secured Parties referred to herein (in such
capacity, and together with its successors and assigns (including under any Priority Refinancing Credit Facility) in such capacity, the “Priority Lien Agent”) and Wilmington Trust, National Association, as collateral trustee for the
Second Lien Secured Parties referred to herein (in such capacity, and together with its successors in such capacity, the “Second Lien Agent”). 

Reference is made to the Priority Credit Agreement (defined below) and the Second Lien Indenture (defined below). 

In consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Priority Lien Agent (for itself and on behalf of the Priority Lien Secured Parties) and the Second Lien Agent (for itself and on behalf of the Second Lien Secured Parties) agree as follows: 

ARTICLE I 
 DEFINITIONS

 SECTION 1.01    Construction; Certain Defined Terms. (a) The definitions of terms herein shall
apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise,
(i) any reference herein to any agreement, instrument, other document, statute or regulation shall be construed as referring to such agreement, instrument, other document, statute or regulation as from time to time amended, supplemented or
otherwise modified in accordance with the terms of each applicable Secured Debt Document (including, for the avoidance of doubt, this Agreement), (ii) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, but shall not be deemed to include the subsidiaries of such Person unless express reference is made to such subsidiaries, (iii) the words “herein,” “hereof” and “hereunder,” and words of
similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (iv) all references herein to Articles, Sections and Annexes shall be construed to refer to Articles, Sections and Annexes
of this Agreement, (v) unless otherwise expressly qualified herein, the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights and (vi) the term “or” is not exclusive. 

(b)    All terms used in this Agreement that are defined in Article 1, 8 or 9 of the New York UCC (whether
capitalized herein or not) and not otherwise defined herein have the meanings assigned to them in Article 1, 8 or 9 of the New York UCC. If a term is defined in Article 9 of the New York UCC and another Article of the UCC, such term shall
have the meaning assigned to it in Article 9 of the New York UCC. 
 (c)    As used in this Agreement, the
following terms have the meanings specified below: 
 “Accounts” has the meaning assigned to such term in
Section 3.01. 

  
 1 

 “Affiliate” of any specified Person means any other Person, directly or
indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the power to direct the management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under common
control with” have correlative meanings. 
 “Bankruptcy Code” means Title 11 of the United States Code. 

“Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law for the relief of debtors. 

“Borrowing Base” means the maximum amount in dollars determined or redetermined by Commercial Lenders under the Priority
Credit Agreement or any Priority Refinancing Credit Facility, as applicable, as the aggregate lending value to be ascribed to the oil and gas properties of the Company and the Grantors against which such lenders are prepared to provide loans or
other Indebtedness to the Company and the Grantors under the Priority Credit Agreement, using their customary practices and standards for determining reserve based loans and which are generally applied by lenders to borrowers in the oil and gas
business, as determined semi-annually during each year and/or on such other occasions as may be provided for by the Priority Credit Agreement, and which is based upon, inter alia, the review by such lenders of the Hydrocarbon reserves, royalty
interests and assets and liabilities of the Company and its Subsidiaries. 
 “Business Day” means any day excluding
Saturday, Sunday and any other day on which banking institutions are not required to be open in the State of New York City, or the principal place of payment. 

“Capital Stock” of any Person means any and all shares, interests (including partnership interests), rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity. 

“Cash Management Obligations” means any obligations of the Company or a Grantor owed to any lender (or any Affiliate of any
such lender) as permitted under the Priority Credit Agreement in respect of treasury management arrangements or depositary or other cash management services, including commercial credit card and merchant card services. 

“Collateral” means all of the assets and property of any Grantor, whether real, personal or mixed, constituting the Priority
Lien Collateral and/or the Second Lien Collateral. 
 “Commercial Lenders” means commercial banks customarily engaged in
oil and gas reserves-based lending in the ordinary course of their respective businesses. 
 “Company” means Gastar
Exploration Inc., a Delaware corporation. 
 “DIP Financing” has the meaning assigned to such term in
Section 4.02(b). 
 “DIP Financing Liens” has the meaning assigned to such term in
Section 4.02(b). 
 “DIP Lenders” has the meaning assigned to such term in
Section 4.02(b). 

  
 2 

 “Discharge of Priority Lien Obligations” means the occurrence of all of the
following: 
 (a)    termination or expiration of all commitments to extend credit that would constitute Priority Lien
Debt; 
 (b)    payment in full in cash of the principal of (to the extent such principal does not constitute Excess
Priority Lien Obligations) and interest and premium (if any) on all Priority Lien Debt (other than any undrawn letters of credit); 

(c)    discharge or cash collateralization (at the lower of (i) 105% of the aggregate undrawn amount and
(ii) the percentage of the aggregate undrawn amount required for release of Liens under the terms of the applicable Priority Lien Document) of all outstanding letters of credit constituting Priority Lien Debt that are not Excess Priority Lien
Obligations; 
 (d)    payment in full in cash of obligations in respect of Hedging Obligations that are secured by the
Priority Liens (and, with respect to any particular Swap Agreement, termination of such agreement and payment in full in cash of all obligations thereunder or entry into such other arrangements    satisfactory to the Swap
Counterparty (as defined in the Priority Lien Intercreditor Agreement) party thereto (and communicated by the Swap Counterparty (as defined in the Priority Lien Intercreditor Agreement) party thereto to the Priority Lien Agent)) other than such
Hedging Obligations that have been novated or collateralized to the extent expressly required by the terms thereof; and 

(e)    payment in full in cash of all other Priority Lien Obligations that are outstanding and unpaid at the time the
Priority Lien Debt is paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has been made at or prior to such time); 

provided that, if, at any time after the Discharge of Priority Lien Obligations has occurred, the Company, any Grantor or any other guarantor enters
into any Priority Lien Document evidencing a Priority Lien Debt which incurrence is not prohibited by the applicable Secured Debt Documents, then such Discharge of Priority Lien Obligations shall automatically be deemed not to have occurred for all
purposes of this Agreement with respect to such new Priority Lien Debt (other than with respect to any actions taken as a result of the occurrence of such first Discharge of Priority Lien Obligations), and, from and after the date on which the
Company designates such Indebtedness as Priority Lien Debt in accordance with this Agreement, the obligations under such Priority Lien Document shall automatically and without any further action be treated as Priority Lien Obligations for all
purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth in this Agreement and any Second Lien Obligations shall be deemed to have been at all times Second Lien Obligations and at no
time Priority Lien Obligations. For the avoidance of doubt, a Replacement as contemplated by Section 4.04(a) shall not be deemed to cause a Discharge of Priority Lien Obligations. 

“Discharge of Second Lien Obligations” means the occurrence of all of the following: 

(a)    payment in full in cash of the principal of and interest and premium (if any) on all Second Lien Debt; 

(b)    payment in full in cash of all other Second Lien Obligations that are outstanding and unpaid at the time the Second
Lien Debt is paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has been made at or prior to such time); 

  
 3 

 provided that, if at any time after the Discharge of Second Lien Obligations has occurred, the Company,
any Grantor or any other guarantor enters into any Second Lien Document evidencing a Second Lien Obligation which incurrence is not prohibited by the applicable Secured Debt Documents, then such Discharge of Second Lien Obligations shall
automatically be deemed not to have occurred for all purposes of this Agreement with respect to such new Second Lien Obligations (other than with respect to any actions taken as a result of the occurrence of such first Discharge of Second Lien
Obligations), and, from and after the date on which the Company designates such Indebtedness as Second Lien Debt in accordance with this Agreement, the obligations under such Second Lien Document shall automatically and without any further action be
treated as Second Lien Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth in this Agreement. For the avoidance of doubt, a Replacement as contemplated by
Section 4.04(a) shall not be deemed to cause a Discharge of Second Lien Obligations. 

“Disposition” means any sale, lease, exchange, assignment, license, contribution, transfer or other disposition.
“Dispose” shall have a correlative meaning. 
 “Excess Priority Lien Obligations” means Obligations
constituting Priority Lien Obligations for the principal amount of loans and letters of credit under the Priority Credit Agreement and/or any other Credit Facility pursuant to which Priority Lien Debt has been incurred to the extent that such
Obligations for principal and letters of credit are in excess of the amount in clause (a) of the definition of “Priority Lien Cap.” 

“Financial Officer” of any Person means the Chief Financial Officer, Chief Accounting Officer, principal accounting officer,
Controller, Treasurer or Assistant Treasurer of such Person. 
 “Governmental Authority” means the government of the United
States or any other nation, or any political subdivision thereof, whether state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other Person exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government. 
 “Grantor” means the Company,
and each other subsidiary of the Company that shall have granted any Lien in favor of any of the Priority Lien Agent or the Second Lien Agent on any of its assets or properties to secure any of the Secured Obligations. 

“Hedging Obligations” means, with respect to any Grantor, the obligations of such Grantor under any Swap Agreement that are
“Secured Obligations”, as defined in the Priority Lien Credit Agreement, including: 
 (i)    interest rate
swap agreements, interest rate cap agreements and interest rate collar agreements entered into with one of more financial institutions and designed to protect such Grantor or any subsidiary thereof entering into the agreement against fluctuations in
interest rates with respect to Indebtedness incurred; 
 (ii)    foreign exchange contracts and currency protection
agreements entered into with one or more financial institutions and designed to protect such Grantor or any subsidiary thereof entering into the agreement against fluctuations in currency exchanges rates with respect to Indebtedness incurred; 

(iii)    any commodity futures contract, commodity option or other similar agreement or arrangement designed to protect
against fluctuations in the price of oil, natural gas or other commodities used, produced, processed or sold by that Grantor or any subsidiary thereof at the time; and 

  
 4 

 (iv)     other agreements or arrangements designed to protect such Grantor or
any subsidiary thereof against fluctuations in interest rates, commodity prices or currency exchange rates. 

“Hydrocarbons” means oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate, distillate, liquid hydrocarbons,
gaseous hydrocarbons and all products refined or separated therefrom. 
 “Indebtedness” has the meaning assigned to such
term in the Priority Credit Agreement (as in effect on the date hereof). 
 “Insolvency or Liquidation Proceeding” means:

 (a)    any case commenced by or against the Company or any other Grantor under the Bankruptcy Code or any other
Bankruptcy Law, any other proceeding for the reorganization, arrangement, recapitalization or adjustment or marshalling of the assets or liabilities of the Company or any other Grantor, any receivership or assignment for the benefit of creditors
relating to the Company or any other Grantor or any similar case or proceeding relative to the Company or any other Grantor or its creditors, as such, in each case whether or not voluntary; 

(b)    any liquidation, dissolution, marshalling of assets or liabilities or other winding up of or relating to the
Company or any other Grantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 

(c)    any other proceeding of any type or nature in which substantially all claims of creditors of the Company or any
other Grantor are determined and any payment or distribution is or may be made on account of such claims. 
 “Lien” means
any mortgage, pledge, security interest or encumbrance, Lien or charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof). 

“New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Obligations” means, with respect to any Indebtedness, all obligations for principal, premium, interest, penalties, fees,
indemnifications, reimbursements, and other amounts payable pursuant to the documentation governing such Indebtedness. 

“Officers’ Certificate” means a certificate signed by two officers of the Company, one of whom must be either the
principal executive officer or a Financial Officer of the Company. 
 “Priority Lien Agent” has the meaning assigned to
such term in the preamble hereto. 
 “Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or other entity. 

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

  
 5 

 “Priority Credit Agreement” means the Third Amended and Restated Credit
Agreement, dated as of March 3, 2017, among the Company, as borrower, certain subsidiaries of the Company from time to time party thereto, as guarantors, the Priority Lien Agent, and the lenders party thereto from time to time, as amended,
restated, adjusted, waived, renewed, extended, supplemented or otherwise modified from time to time to the extent not otherwise prohibited by the terms hereof with the same and/or different lenders and/or agents and any credit agreement, loan
agreement, note agreement, promissory note, indenture or any other agreement or instrument evidencing or governing the terms of any Priority Refinancing Credit Facility. 

“Priority Lien” means a Lien granted by the Company or any other Grantor in favor of the Priority Lien Agent, at any time,
upon any Property of the Company or such other Grantor to secure Priority Lien Obligations. 
 “Priority Lien Cap” means,
as of any date, the sum of 
 (a)    the aggregate principal amount of all Indebtedness (including any
interest paid-in-kind) outstanding at any time under the Priority Credit Agreement (with outstanding letters of credit being deemed to have a principal amount equal to
the stated amount thereof) not in excess of the lesser of (i) the greater of $250,000,000 and the Borrowing Base in effect at the time of incurrence of such Indebtedness and (ii) $300,000,000, in either case, plus 

(b)    Priority Lien Protective Advances, plus 

(c)    the amount of all Hedging Obligations, to the extent such Hedging Obligations are secured by the
Priority Liens, plus 
 (d)    the amount of all Cash Management Obligations, to the extent such
Cash Management Obligations are secured by the Priority Liens, plus 
 (e)    the amount of
accrued and unpaid interest (whether incurred before or after commencement of an Insolvency or Liquidation Proceeding, and whether or not allowable in an Insolvency or Liquidation Proceeding but excluding any interest
paid-in-kind) and outstanding fees, expenses (including legal fees) and indemnities, to the extent such Obligations are secured by the Priority Liens. 

“Priority Lien Collateral” means all “Collateral”, as defined in the Priority Credit Agreement or any other
Priority Lien Document, and any other assets of any Grantor now or at any time hereafter subject to Liens which secure, but only to the extent securing, any Priority Lien Obligation. 

“Priority Lien Debt” means the Indebtedness under the Priority Credit Agreement (including letters of credit and
reimbursement obligations with respect thereto (with outstanding letters of credit being deemed to have a principal amount equal to the stated amount thereof)) that was permitted to be incurred and secured under the Priority Credit Agreement and the
Second Lien Indenture (or as to which the lenders under the Priority Credit Agreement obtained an Officers’ Certificate at the time of incurrence to the effect that such Indebtedness was permitted to be incurred and secured by all applicable
Secured Debt Documents) and additional Indebtedness under any Priority Refinancing Credit Facility. 
 “Priority Lien
Documents” means the Priority Credit Agreement, the Priority Lien Security Documents, the other “Loan Documents” (as defined in the Priority Credit Agreement), all other loan documents, notes, guarantees, instruments and
agreements governing or evidencing, or executed or delivered in connection with, any Priority Refinancing Credit Facility and the “Swap Documents” (as defined in the Priority Lien Intercreditor Agreement). 

  
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 “Priority Lien Intercreditor Agreement” has the meaning given to the term
“Swap Intercreditor Agreement” in the Priority Lien Credit Agreement. For the avoidance of doubt, the Second Lien Agent is not party to the Priority Lien Intercreditor Agreement. 

“Priority Lien Obligations” means the Priority Lien Debt and all other Obligations in respect of or in connection with
Priority Lien Debt together with Hedging Obligations and Cash Management Obligations, in each case, to the extent that such Obligations are secured by Priority Liens. For the avoidance of doubt, Hedging Obligations shall only constitute Priority
Lien Obligations to the extent that such Hedging Obligations are secured pursuant to the terms of the Priority Lien Intercreditor Agreement and Priority Lien Security Documents. Notwithstanding any other provision hereof, the term “Priority
Lien Obligations” will include accrued interest, fees, costs, and other charges incurred under the Priority Credit Agreement and the other Priority Lien Documents, whether incurred before or after commencement of an Insolvency or Liquidation
Proceeding, and whether or not allowable in an Insolvency or Liquidation Proceeding. To the extent that any payment with respect to the Priority Lien Obligations (whether by or on behalf of any Grantor, as proceeds of security, enforcement of any
right of set-off, or otherwise) is declared to be fraudulent or preferential in any respect, set aside, or required to be paid to a debtor in possession, trustee, receiver, or similar Person, then the
obligation or part thereof originally intended to be satisfied will be deemed to be reinstated and outstanding as if such payment had not occurred. 

“Priority Lien Protective Advances” means any advance made by one or more Priority Lien Secured Parties for the purpose of
(a) maintaining, protecting or preserving the Collateral and/or the Priority Lien Secured Parties’ rights under the Priority Lien Documents or which is otherwise made for the benefit of the Priority Lien Secured Parties, (b) enhancing
the likelihood of, or maximizing the amount of, repayment of any Priority Lien Obligation and/or (c) paying any other amount chargeable to, or required to be paid by, any Grantor hereunder or under any other Priority Lien Document as a result
of the actions described under clauses (a) or (b) above; provided that in no event shall the aggregate amount of any such advances exceed $5,000,000. 

“Priority Lien Release Notice” has the meaning assigned to such term in Section 4.01. 

“Priority Lien Secured Parties” means, at any time, the Priority Lien Agent, each lender or issuing bank under the Priority
Credit Agreement, each holder, provider or obligee of any Hedging Obligations and Cash Management Obligations and, in each case, that is a secured party (or a party entitled to the benefits of the security) under any Priority Lien Document, the
beneficiaries of each indemnification obligation undertaken by any Grantor under any Priority Lien Document, each other Person that provides letters of credit, guarantees or other credit support related thereto under any Priority Lien Document and
each other holder of, or obligee in respect of, any Priority Lien Obligations (including pursuant to a Priority Refinancing Credit Facility), in each case to the extent designated as a secured party (or a party entitled to the benefits of the
security) under any Priority Lien Document outstanding at such time. 
 “Priority Lien Security Documents” means the
Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages,
deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Company or any other Grantor creating (or purporting to create) a Lien upon Collateral in
favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Refinancing Credit Facility). 

  
 7 

 “Priority Refinancing Credit Facility” means any conforming oil and gas
reserves-based revolving credit facility, the majority of the commitments under which are held by Commercial Lenders, that (i) refunds, refinances or replaces the Priority Credit Agreement or any other Priority Refinancing Credit Facility, in
each case, in whole and with all commitments thereunder terminated, (ii) Indebtedness under which is permitted to be incurred under the Second Lien Indenture, and (iii) the Priority Liens securing such Priority Refinancing Credit Facility
are subject to the terms of this Agreement for all purposes (including the Lien priorities as set forth herein as of the date hereof) and (iv) with respect to which the Priority Lien Agent thereunder has complied with Section 4.04(a).

 “Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or
intangible, including, without limitation, cash, securities, accounts and contract rights. 
 “Replaces” means, (a) in
respect of any agreement with reference to the Priority Credit Agreement or the Priority Lien Obligations or any Priority Refinancing Credit Facility, that such agreement refunds, refinances or replaces the Priority Credit Agreement, the Priority
Lien Obligations or any Priority Refinancing Credit Facility in full (in a transaction that is in compliance with Section 4.04(a)) and that all commitments thereunder are terminated or (b) in respect of any agreement
with reference to the Second Lien Documents, the Second Lien Obligations that such Indebtedness refunds, refinances or replaces the Second Lien Documents, the Second Lien Obligations in whole (in a transaction that is in compliance with
Section 4.04(a)) and that all commitments thereunder are terminated, or, to the extent permitted by the terms of the Second Lien Documents, the Second Lien Obligations, in part. “Replace,”
“Replaced” and “Replacement” shall have correlative meanings. 
 “Second Lien” means a
Lien granted by a Second Lien Document to the Second Lien Agent, at any time, upon any Collateral by any Grantor to secure Second Lien Obligations. 

“Second Lien Agent” has the meaning assigned to such term in the preamble hereto. 

“Second Lien Collateral” means all “Collateral”, as defined in any Second Lien Document, and any other assets of
any Grantor now or at any time hereafter subject to Liens which secure, but only to the extent securing, any Second Lien Obligations. 

“Second Lien Debt” means the Indebtedness under the Second Lien Indenture and guarantees thereof that was permitted to be
incurred and secured in accordance with the Secured Debt Documents and with respect to which the requirements of Section 4.04(b) have been (or are deemed) satisfied. 

“Second Lien Documents” means the Second Lien Indenture, the Second Lien Security Documents and all other note documents
(including the Indenture Documents (as defined in the Second Lien Indenture)), notes, guarantees, instruments and agreements governing or evidencing the Second Lien Obligations. 

“Second Lien Indenture” means that certain Indenture, dated as of March 3, 2017, among the Company, certain of its
subsidiaries from time to time party thereto and Wilmington Trust, National Association, as trustee and collateral trustee, as amended, restated, adjusted, waived, renewed, extended, supplemented or otherwise modified from time to time in accordance
with the terms hereof. 

  
 8 

 “Second Lien Obligations” means Second Lien Debt and all other Obligations (as
defined in the Second Lien Indenture) in respect thereof. Notwithstanding any other provision hereof, the term “Second Lien Obligations” will include accrued interest, fees, costs, and other charges incurred under the Second Lien Indenture
and the other Second Lien Documents, whether incurred before or after commencement of an Insolvency or Liquidation Proceeding and whether or not allowable in an Insolvency or Liquidation Proceeding. To the extent that any payment with respect to the
Second Lien Obligations (whether by or on behalf of any Grantor, as proceeds of security, enforcement of any right of set-off, or otherwise) is declared to be fraudulent or preferential in any respect, set
aside, or required to be paid to a debtor in possession, trustee, receiver, or similar Person, then the obligation or part thereof originally intended to be satisfied will be deemed to be reinstated and outstanding as if such payment had not
occurred. 
 “Second Lien Purchasers” has the meaning assigned to such term in Section 3.06. 

“Second Lien Secured Parties” means, at any time, the Second Lien Agent, the trustees, agents and other representatives of
the holders of the Notes (as defined in the Second Lien Indenture), the beneficiaries of each indemnification obligation undertaken by any Grantor under any Second Lien Document and each other holder of, or obligee in respect of, any Second Lien
Obligations, any holder or lender pursuant to any Second Lien Document outstanding at such time. 
 “Second Lien Security
Documents” means the Second Lien Indenture (insofar as the same grants a Lien on the Collateral), each agreement listed in Part B of Exhibit B hereto, the Collateral Agreements (as defined in the Second Lien
Indenture) and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements, or grants or transfers for security, now existing or entered into after the date
hereof, executed and delivered by the Company or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Second Lien Agent. 

“Section 363 Event” has the meaning assigned to such term in Section 4.02(d).

 “Section 363 Notice” has the meaning assigned to such term in
Section 4.02(d). 
 “Section 363 Objections” has the meaning assigned to such
term in Section 4.02(d). 
 “Secured Debt Documents” means the Priority Lien Documents and the
Second Lien Documents. 
 “Secured Debt Representative” means the Priority Lien Agent or the Second Lien Agent, as
applicable. 
 “Secured Obligations” means the Priority Lien Obligations and the Second Lien Obligations. 

“Secured Parties” means the Priority Lien Secured Parties and the Second Lien Secured Parties. 

“Security Documents” means the Priority Lien Security Documents and the Second Lien Security Documents. 

“Standstill Period” has the meaning assigned to such term in Section 3.02. 

  
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 “subsidiary” means, with respect to any Person, any corporation, limited
liability company, association, partnership or other business entity of which more than 50% of the total voting power of shares of Voting Stock is at the time owned or controlled, directly or indirectly, by (a) such Person; (b) such Person
and one or more subsidiaries of such Person; or (c) one or more subsidiaries of such Person. 
 “Swap Agreement” has
the meaning assigned to such term in the Priority Lien Credit Agreement. 
 “Voting Stock” of a Person means all classes of
Capital Stock of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 

ARTICLE II 
 LIEN
PRIORITIES 
 SECTION 2.01    Relative Priorities. (a) The grant of the Priority Liens pursuant to
the Priority Lien Documents and the grant of the Second Liens pursuant to the Second Lien Documents create two separate and distinct Liens on the Collateral. 

(b)    Notwithstanding anything contained in this Agreement, the Priority Lien Documents, the Second Lien Documents, or
any other agreement or instrument or operation of law to the contrary, or any other circumstance whatsoever and irrespective of (i) how a Lien was acquired (whether by grant, possession, statute, operation of law, subrogation, or otherwise),
(ii) the time, manner, or order of the grant, attachment or perfection of a Lien, (iii) any conflicting provision of the New York UCC or other applicable law, (iv) any defect in, or
non-perfection, setting aside, or avoidance of, a Lien or a Priority Lien Document or a Second Lien Document, (v) the modification of a Priority Lien Obligation or a Second Lien Obligation, and
(vi) the subordination of a Lien on Collateral securing a Priority Lien Obligation to a Lien securing another obligation of the Company or other Person that is permitted under the Priority Lien Documents as in effect on the date hereof or
securing a DIP Financing, or the subordination of a Lien on Collateral securing a Second Lien Obligation to a Lien securing another obligation of the Company or other Person (other than a Priority Lien Obligation) that is permitted under the Second
Lien Documents as in effect on the date hereof, the Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, hereby agrees that (i) any Priority Lien on any Collateral now or hereafter held by or for the benefit of any
Priority Lien Secured Party shall be senior in right, priority, operation, effect and all other respects to any and all Second Liens on any Collateral, in any case, subject to the Priority Lien Cap as provided herein, and (ii) any Second
Lien on any Collateral now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all Priority Liens on any Collateral, in any
case, subject to the Priority Lien Cap as provided herein. 
 (c)    It is acknowledged that, subject to the Priority
Lien Cap (as provided herein), (i) the aggregate amount of the Priority Lien Obligations may be increased from time to time pursuant to the terms of the Priority Lien Documents, (ii) a portion of the Priority Lien Obligations consists or
may consist of Indebtedness that is revolving in nature, and the amount thereof that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed, and (iii) (A) the Priority Lien Documents may
be replaced, restated, supplemented, restructured or otherwise amended or modified from time to time and (B) the Priority Lien Obligations may be increased, extended, renewed, replaced, restated, supplemented, restructured, repaid, refunded,
refinanced or otherwise amended or modified from time to time, in the case of the foregoing (A) and (B) all without affecting the 

  
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subordination of the Second Liens or the provisions of this Agreement defining the relative rights of the Priority Lien Secured Parties and the Second Lien Secured Parties. The Lien priorities
provided for herein shall not be altered or otherwise affected by any amendment, modification, supplement, extension, increase, renewal, restatement or Replacement of either the Priority Lien Obligations (or any part thereof) or the Second Lien
Obligations (or any part thereof), by the release of any Collateral or of any guarantees for any Priority Lien Obligations or by any action that any Secured Debt Representative or Secured Party may take or fail to take in respect of any Collateral.

 SECTION 2.02    Prohibition on Marshalling, Etc.. Until the Discharge of Priority Lien
Obligations, the Second Lien Agent will not assert any marshalling, appraisal, valuation, or other similar right that may otherwise be available to a junior secured creditor. 

SECTION 2.03    No New Liens. The parties hereto agree that, (a) so long as the Discharge of Priority
Lien Obligations has not occurred, none of the Grantors shall, nor shall any Grantor permit any of its subsidiaries to, (i) grant or permit any additional Liens on any asset of a Grantor to secure any Second Lien Obligation, or take any action
to perfect any additional Liens, unless it has granted, or substantially concurrently therewith grants (or offers to grant), a Lien on such asset of such Grantor to secure (A) the Priority Lien Obligations and has taken all actions required to
perfect such Liens and (B) the Second Lien Obligations and has taken all actions required to perfect such Liens; provided, however, the refusal or inability of the Priority Lien Agent to accept such Lien will not prevent the
Second Lien Agent from taking the Lien or (ii) grant or permit any additional Liens on any asset of a Grantor to secure any Priority Lien Obligation, or take any action to perfect any additional Liens, unless it has granted, or substantially
concurrently therewith grants (or offers to grant), a Lien on such asset of such Grantor to secure the Second Lien Obligations and has taken all actions required to perfect such Liens. To the extent that the provisions of the immediately preceding
sentence are not complied with for any reason, without limiting any other right or remedy available to the Priority Lien Agent, the other Priority Lien Secured Parties, the Second Lien Agent or the other Second Lien Secured Parties, the Second Lien
Agent, for itself and on behalf of the other Second Lien Secured Parties, agrees that any amounts received by or distributed to any Second Lien Secured Party pursuant to or as a result of any Lien granted in contravention of this
Section 2.03 shall be subject to Section 3.05(b). 

SECTION 2.04    Similar Collateral and Agreements. The parties hereto acknowledge and agree that it is their
intention that the Priority Lien Collateral and the Second Lien Collateral be identical. In furtherance of the foregoing, the parties hereto agree (a) to cooperate in good faith in order to determine, upon any reasonable request by the Priority
Lien Agent or the Second Lien Agent, the specific assets included in the Priority Lien Collateral and the Second Lien Collateral, the steps taken to perfect the Priority Liens and the Second Liens, and the identity of the respective parties
obligated under the Priority Lien Documents and the Second Lien Documents in respect of the Priority Lien Obligations and the Second Lien Obligations, respectively, (b) that the Second Lien Security Documents creating Liens on the Collateral
shall be in all material respects the same forms of documents as the respective Priority Lien Security Documents creating Liens on the Collateral other than (i) with respect to the priority nature of the Liens created thereunder in such
Collateral, (ii) such other modifications to such Second Lien Security Documents which are less restrictive than the corresponding Priority Lien Security Documents, (iii) provisions in the Second Lien Security Documents which are solely
applicable to the rights and duties of the Second Lien Agent or the other Second Lien Secured Parties, and (iv) with such deletions or modifications of representations, warranties and covenants as are customary with respect to security
documents establishing Liens securing debt securities sold in similar private transactions that are not subject to the registration requirements of the Securities Act and (c) that at no time shall there be any Grantor that is an obligor in
respect of the Second Lien Obligations that is not also an obligor in respect of the Priority Lien Obligations. 

  
 11 

 ARTICLE III 

ENFORCEMENT RIGHTS; PURCHASE OPTION 

SECTION 3.01    Limitation on Enforcement Action. Prior to the Discharge of Priority Lien Obligations, the
Second Lien Agent, for itself and on behalf of each Second Lien Secured Party, hereby agrees that, subject to Section 3.02, Section 3.05(b) and Section 4.07, none of the
Second Lien Agent or any other Second Lien Secured Party shall commence any judicial or nonjudicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action
to take possession of, exercise any right, remedy or power with respect to, or otherwise take any action to enforce its interest in or realize upon, or take any other action available to it in respect of, any Collateral under any Second Lien
Security Document, applicable law or otherwise (including but not limited to any right of setoff), it being agreed that only the Priority Lien Agent, acting in accordance with the applicable Priority Lien Documents, shall have the exclusive right
(and whether or not any Insolvency or Liquidation Proceeding has been commenced), to take any such actions or exercise any such remedies, in each case, without any consultation with or the consent of the Second Lien Agent or any other Second Lien
Secured Party. In exercising rights and remedies with respect to the Collateral, the Priority Lien Agent and the other Priority Lien Secured Parties may enforce the provisions of the Priority Lien Documents and exercise remedies thereunder, all in
such order and in such manner as they may determine in their sole discretion and regardless of whether such exercise and enforcement is adverse to the interest of any Second Lien Secured Party. Such exercise and enforcement shall include the rights
of an agent appointed by them to Dispose of Collateral upon foreclosure, to incur expenses in connection with any such Disposition and to exercise all the rights and remedies of a secured creditor under the Uniform Commercial Code, the Bankruptcy
Code or any other Bankruptcy Law. Without limiting the generality of the foregoing, prior to the Discharge of Priority Lien Obligations, the Priority Lien Agent will have the exclusive right to deal with that portion of the Collateral consisting of
deposit accounts and securities accounts (collectively “Accounts”), including exercising rights under control agreements with respect to such Accounts. The Second Lien Agent, for itself and on behalf of the other Second Lien Secured
Parties, hereby acknowledges and agrees that no covenant, agreement or restriction contained in any Second Lien Security Document or any other Second Lien Document other than this Agreement, shall be deemed to restrict in any way the rights and
remedies of the Priority Lien Agent or the other Priority Lien Secured Parties with respect to the Collateral as set forth in this Agreement. Notwithstanding the foregoing, subject to Section 3.05, the Second Lien Agent, on
behalf of the Second Lien Secured Parties, may, but will have no obligation to, take all such actions (not adverse to the Priority Liens or the rights of the Priority Lien Agent and the Priority Lien Secured Parties) it deems necessary to perfect or
continue the perfection of the Second Liens in the Collateral. Nothing herein shall limit the right or ability of the Second Lien Secured Parties to (i) purchase (by credit bid or otherwise) all or any portion of the Collateral in connection
with any enforcement of remedies by the Priority Lien Agent to the extent that, and so long as, the Priority Lien Secured Parties receive payment in full in cash of all Priority Lien Obligations (other than the Excess Priority Lien Obligations,
except as provided in Section 6.01) after giving effect thereto or (ii) file a proof of claim with respect to the Second Lien Obligations. 

SECTION 3.02    Standstill Periods; Permitted Enforcement Action. (a) Prior to the Discharge of Priority Lien
Obligations and notwithstanding the foregoing Section 3.01, both before and during an Insolvency or Liquidation Proceeding after a period of 180 days has elapsed (which period will be tolled during any period in which the
Priority Lien Agent is not entitled, on behalf of the Priority Lien Secured Parties, to enforce or exercise any rights or remedies with respect to any Collateral as a result of (A) any injunction issued by a court of competent jurisdiction or
(B) the automatic stay or any other stay in any Insolvency or Liquidation Proceeding) since the date on which the Second Lien Agent has delivered to the Priority Lien Agent written notice of an Event of Default under any Second Lien Document
arising from the failure to pay any Second Lien Obligations or the acceleration of any Second 

  
 12 

 
Lien Debt (the “Standstill Period”), the Second Lien Agent and the other Second Lien Secured Parties may enforce or exercise any rights or remedies with respect to any
Collateral; provided, however that notwithstanding the expiration of the Standstill Period, in no event may the Second Lien Agent or any other Second Lien Secured Party enforce or exercise any rights or remedies with respect to any
Collateral, or commence, join with any Person at any time in commencing, or petition for or vote in favor of any resolution for, any such action or proceeding, if the Priority Lien Agent on behalf of the Priority Lien Secured Parties or any other
Priority Lien Secured Party shall have commenced, and shall be diligently pursuing (or shall have sought or requested relief from, or modification of, the automatic stay or any other stay or other prohibition in any Insolvency or Liquidation
Proceeding to enable the commencement and pursuit thereof), the enforcement or exercise of any rights or remedies with respect to the Collateral or any such action or proceeding (prompt written notice thereof to be given to the Second Lien Agent by
the Priority Lien Agent); provided, further, that, at any time after the expiration of the Standstill Period, if neither the Priority Lien Agent nor any other Priority Lien Secured Party shall have commenced and be diligently pursuing
(or shall have sought or requested relief from, or modification of, the automatic stay or any other stay or other prohibition in any Insolvency or Liquidation Proceeding to enable the commencement and pursuit thereof) the enforcement or exercise of
any rights or remedies with respect to any material portion of the Collateral or any such action or proceeding, and the Second Lien Agent shall have commenced the enforcement or exercise of any rights or remedies with respect to any material portion
of the Collateral or any such action or proceeding, then for so long as the Second Lien Agent is diligently pursuing such rights or remedies, none of any Priority Lien Secured Party or the Priority Lien Agent shall take any action of a similar
nature with respect to such Collateral, or commence, join with any Person at any time in commencing, or petition for or vote in favor of any resolution for, any such action or proceeding. 

(b)    Second Lien Permitted Actions. Anything to the contrary in this Article III or in any other provision of
this Agreement notwithstanding, Second Lien Agent and /or any Second Lien Secured Party may: 
 (i)    if
an Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, file a claim or statement of interest with respect to the Second Lien Debt; 

(ii)    take any action (not adverse to the priority status of the Liens on the Collateral securing the
Priority Lien Debt, or the rights of Priority Lien Agent or any other Priority Lien Secured Party to undertake enforcement actions with respect to the Collateral or otherwise) in order to create or perfect its Lien in and to the Collateral; 

(iii)    file any necessary responsive or defensive pleadings in opposition to any motion, claim, adversary
proceeding, or other pleading made by any person objecting to or otherwise seeking the disallowance of the claims of the Second Lien Secured Parties, including any claims secured by the Collateral, if any; 

(iv)    file any pleadings, objections, motions or agreements which assert rights or interests available
to, or exercise rights as (to the extent not prohibited by Section 4.07), unsecured creditors of the Grantors arising under any Insolvency or Liquidation Proceeding or applicable
non-Bankruptcy Law, in each case not inconsistent with the terms of this Agreement; 

(v)    vote on any plan of reorganization and make any filings (including proofs of claim) and arguments
and motions that are, in each case, not in contravention of the provisions of this Agreement, with respect to the Second Lien Debt and the Collateral; 

  
 13 

 (vi)    seek to enforce any of the terms of the Second Lien
Loan Documents to the extent not expressly prohibited by the other provisions of this Agreement; 

(vii)    join (but not exercise any control with respect to) any judicial foreclosure proceeding or other
judicial Lien enforcement proceeding with respect to the Collateral initiated by Priority Lien Agent (or any Priority Lien Secured Parties) to the extent that any such action could not reasonably be expected, in any material respect, to restrain,
hinder, limit, delay for any material period or otherwise interfere with an enforcement action by Priority Lien Agent (it being understood that neither Second Lien Agent nor any Second Lien Secured Party shall be entitled to receive any proceeds of
any Collateral unless otherwise expressly permitted herein); 
 (viii)    bid for or purchase Collateral
at any public, private or judicial foreclosure upon such Collateral initiated by Priority Lien Agent or any Priority Lien Secured Party, or any sale of Collateral during an Insolvency or Liquidation Proceeding; provided that such bid may only
include a “credit bid” in respect of any Second Lien Debt to the extent that, and so long as, the Priority Lien Secured Parties receive payment in full in cash of all Priority Lien Obligations (other than the Excess Priority Lien
Obligations) after giving effect thereto; and 
 (ix)    take or otherwise exercise any enforcement
actions after the expiration of the Standstill Period to the extent specifically permitted in the second proviso to Section 3.02(a) or with the consent of the Priority Lien Agent or as required by a court of competent jurisdiction. 

SECTION 3.03    Insurance. (a) Unless and until the Discharge of Priority Lien Obligations has occurred
(subject to the terms of Section 3.02, including the rights of the Second Lien Secured Parties following expiration of any applicable Standstill Period), the Priority Lien Agent shall have the sole and exclusive right,
subject to the rights of the Grantors under the Priority Lien Documents, to adjust and settle claims in respect of Collateral under any insurance policy in the event of any loss thereunder and to approve any award granted in any condemnation or
similar proceeding (or any deed in lieu of condemnation) affecting the Collateral. Unless and until the Discharge of Priority Lien Obligations has occurred, and subject to the rights of the Grantors under the Priority Lien Documents, all proceeds of
any such policy and any such award (or any payments with respect to a deed in lieu of condemnation) in respect to the Collateral shall, subject to Section 6.01, be paid to the Priority Lien Agent pursuant to the terms of the Priority Lien
Documents (including for purposes of cash collateralization of commitments, letters of credit and Hedging Obligations). If the Second Lien Agent or any Second Lien Secured Party shall, at any time, receive any proceeds of any such insurance policy
or any such award or payment in contravention of the foregoing, it shall, subject to Section 6.01, pay such proceeds over to the Priority Lien Agent. In addition, if by virtue of being named as an additional insured or loss payee of any
insurance policy of any Grantor covering any of the Collateral, the Second Lien Agent or any other Second Lien Secured Party shall have the right to adjust or settle any claim under any such insurance policy, then unless and until the Discharge of
Priority Lien Obligations has occurred, the Second Lien Agent or any such Second Lien Secured Party shall, until the Discharge of Priority Lien Obligations has occurred, follow the instructions of the Priority Lien Agent, or of the Grantors under
the Priority Lien Documents to the extent the Priority Lien Documents grant such Grantors the right to adjust or settle such claims, with respect to such adjustment or settlement (subject to the terms of Section 3.02,
including the rights of the Second Lien Secured Parties following expiration of any applicable Standstill Period). 

SECTION 3.04    Notification of Release of Collateral, Enforcement Action and Default. 

(a)    Each of the Priority Lien Agent and the Second Lien Agent shall give the other Secured Debt Representatives prompt
written notice of the Disposition by it of, and/or release by it of the 

  
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Lien on, any Collateral. Such notice shall describe in reasonable detail the subject Collateral, the parties involved in such Disposition or release, the place, time, manner and method thereof,
and the consideration, if any, received therefor; provided, however, that the failure to give any such notice shall not in and of itself in any way impair the effectiveness of any such Disposition or release or result in any liability
to the Priority Lien Agent or the Second Lien Agent, as applicable. 
 (b)    Priority Lien Agent shall provide
reasonable prior notice (and, in all events, no less than five Business Days) to Second Lien Agent, and on a confidential basis, of its initial material enforcement action against the Collateral, other than any notice sent to a depository bank or
the exercise of any set off rights. Second Lien Agent shall provide reasonable prior notice (and, in all events, no less than five Business Days) to Priority Lien Agent (prior to the Discharge of Priority Lien Obligations) of its initial material
enforcement action against the Collateral. Notwithstanding the foregoing, (i) in no event shall the failure to deliver any notice required pursuant to this clause (b) affect the validity or enforceability of the applicable
enforcement action for which notice should have been provided under this clause (b) or result in any liability to the Priority Lien Agent or the Second Lien Agent, as applicable and (ii) no party hereto shall object to or challenge
(or have any right to object to or challenge), in a proceeding or otherwise, the validity or enforceability of such enforcement action as a result of the failure to deliver such notice. 

(c)    Each of the Priority Lien Agent and the Second Lien Agent shall give the other Secured Debt Representatives prompt
written notice (and, in all events, within 3 Business Days) of any Event of Default (in each case as defined in the applicable Secured Debt Documents) to the extent that notice of such Event of Default is being provided by such Secured Debt
Representative (or any Secured Parties) to any Grantor; provided that, notwithstanding the foregoing, (i) in no event shall the failure to deliver any notice required pursuant to this clause (c) affect the ability of such
Person responsible for delivery of such notice from exercising any rights or remedies available to it hereunder with respect to such Event of Default or the validity or enforceability of any such exercise of rights or remedies or result in any
liability to the Priority Lien Agent or the Second Lien Agent, as applicable and (ii) no party hereto shall object to or challenge (or have any right to object to or challenge), in a proceeding or otherwise, the validity or enforceability of
such exercise of rights or remedies as a result of the failure to deliver such notice. 
 SECTION 3.05    No
Interference; Payment Over. 
 (a)    No Interference. The Second Lien Agent, for itself and on behalf of each
Second Lien Secured Party, agrees that each Second Lien Secured Party (A) will not take or cause to be taken any action the purpose or effect of which is, or could be, to make any Second Lien pari passu with, or to give such Second Lien
Secured Party any preference or priority relative to, any Priority Lien with respect to the Collateral or any part thereof, (B) will not (I) challenge or question in any proceeding the validity or enforceability of any Priority Lien
Obligations or Priority Lien Document, or the validity or enforceability of the priorities, rights or duties established by the provisions of this Agreement or (II) initiate a challenge or question in any proceeding the validity, attachment,
perfection or priority of any Priority Lien (unless, for the avoidance of doubt, the same or related subject matter has been (I) asserted by any other party in any Insolvency or Liquidation Proceedings or (II) raised or determined, in each
case, as a substantive matter by the court in any such Insolvency or Liquidation Proceedings), (C) will not take or cause to be taken any action the purpose or effect of which is to materially interfere, hinder or delay, in any manner, whether
by judicial proceedings or otherwise, any sale, transfer or other Disposition of the Collateral by any Priority Lien Secured Party or the Priority Lien Agent acting on their behalf, (D) shall have no right to (I) direct the Priority Lien
Agent or any other Priority Lien Secured Party to exercise any right, remedy or power with respect to any Collateral or (II) consent to the exercise by the Priority Lien Agent or any other Priority Lien Secured Party of any right, remedy or
power with respect to any Collateral, (E) will 

  
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not institute any suit or assert in any suit or Insolvency or Liquidation Proceeding any claim against the Priority Lien Agent or other Priority Lien Secured Party seeking damages from or other
relief by way of specific performance, instructions or otherwise with respect to, and neither the Priority Lien Agent nor any other Priority Lien Secured Party shall be liable for, any action taken or omitted to be taken by the Priority Lien Agent
or other Priority Lien Secured Party with respect to any Priority Lien Collateral, (F) will not seek, and hereby waives any right, to have any Collateral or any part thereof marshaled upon any foreclosure or other Disposition of such
Collateral, (G) will not attempt, whether by judicial proceedings or otherwise, to invalidate the enforceability of any provision of this Agreement, (H) will not object to forbearance by the Priority Lien Agent or any Priority Lien Secured
Party, and (I) will not assert, and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or claim the benefit of any marshalling, appraisal, valuation or other similar right that may be
available under applicable law with respect to the Collateral or any similar rights a junior secured creditor may have under applicable law. 

(b)    Payment Over. The Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party,
hereby agrees that if any Second Lien Secured Party shall obtain possession of any Collateral or shall realize any proceeds or payment in respect of any Collateral, pursuant to the exercise of any rights or remedies with respect to the Collateral
under any Second Lien Security Document or by the exercise of any rights available to it under applicable law or in any Insolvency or Liquidation Proceeding, to the extent permitted hereunder, at any time prior to the Discharge of Priority Lien
Obligations secured by such Collateral, then it shall hold such Collateral, proceeds or payment in trust for the Priority Lien Agent and the other Priority Lien Secured Parties and transfer such Collateral, proceeds or payment, as the case may be,
to the Priority Lien Agent as promptly as practicable. Furthermore, the Second Lien Agent or such Second Lien Secured Party, as the case may be, shall, at the Grantors’ expense, promptly send written notice to the Priority Lien Agent upon
receipt of proceeds or payment in respect to such Collateral and if directed by the Priority Lien Agent within five (5) days after receipt by the Priority Lien Agent of such written notice, shall, to the extent consistent with Section
6.01(a), deliver such Collateral, proceeds or payment to the Priority Lien Agent in the same form as received, with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct. The Priority Lien Agent is hereby
authorized to make any such endorsements as agent for the Second Lien Agent or any other Second Lien Secured Party. The Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, agrees that if, at any time, it obtains
written notice from the Priority Lien Agent that all or part of any payment with respect to any Priority Lien Obligations previously made shall be rescinded for any reason whatsoever, it will, to the extent consistent with Section 6.01(a), promptly
pay over to the Priority Lien Agent any payment received by it and then in its possession or under its direct control in respect of any such Priority Lien Collateral and shall, to the extent consistent with Section 6.01(a), promptly turn any such
Collateral then held by it over to the Priority Lien Agent, and the provisions set forth in this Agreement will be reinstated as if such payment had not been made, until the Discharge of Priority Lien Obligations. All Second Liens will remain
attached to and enforceable against all proceeds so held or remitted, subject to the priorities set forth in this Agreement. Anything contained herein to the contrary notwithstanding, this Section 3.05(b) shall not apply to
any proceeds of Collateral realized in a transaction not prohibited by this Agreement or the Priority Lien Documents and as to which the possession or receipt thereof by the Second Lien Agent or any other Second Lien Secured Party, is otherwise
permitted by this Agreement and the Priority Lien Documents. 
 SECTION 3.06    Purchase Option. 

(a)    Notwithstanding anything in this Agreement to the contrary, on or at any time after (i) the commencement of an
Insolvency or Liquidation Proceeding, (ii) the acceleration of the Priority Lien Obligations, (iii) the exercise or undertaking of any enforcement action in respect of any Collateral by any Priority Lien Secured Parties under any Priority
Lien Document, (iv) the occurrence of 

  
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any payment event of default under any Priority Lien Document, (v) the delivery of any Priority Lien Release Notice or any failure of the Priority Lien Agent to deliver any required Priority
Lien Release Notice in accordance with this Agreement, (vi) the proposal of any DIP Financing or (vii) the delivery of any Section 363 Notice or the occurrence of any Section 363 Event, each of the holders of the Second Lien Debt
and each of their respective Affiliates or designees (such holders and their respective Affiliates that make such election, the “Second Lien Purchasers”) will have the several right, at their respective sole option and election (but
will not be obligated), at any time upon prior written notice from (or on behalf of) the Second Lien Purchasers to the Priority Lien Agent, to purchase from the Priority Lien Secured Parties (A) all (but not less than all) Priority Lien
Obligations (including unfunded commitments) other than any Priority Lien Obligations constituting Excess Priority Lien Obligations and (B) if applicable, all loans (and related obligations, including interest, fees and expenses) provided by
any of the Priority Lien Secured Parties in connection with a DIP Financing that are outstanding on the date of such purchase. Promptly following the receipt of such notice, the Priority Lien Agent will deliver to the Second Lien Agent a statement
of the amount of Priority Lien Debt, other Priority Lien Obligations (other than any Priority Lien Obligations constituting Excess Priority Lien Obligations) and DIP Financing (including interest, fees, expenses and other obligations in respect of
such DIP Financing) provided by any of the Priority Lien Secured Parties, if any, then outstanding and the amount of the cash collateral requested by the Priority Lien Agent to be delivered pursuant to Section 3.06(b)(ii) below. The right to
purchase provided for in this Section 3.06 will expire unless, within 10 Business Days after the receipt by the Second Lien Agent of such notice from the Priority Lien Agent, the Second Lien Agent delivers to the Priority
Lien Agent an irrevocable commitment of the Second Lien Purchasers to purchase (A) all (but not less than all) of the Priority Lien Obligations (including unfunded commitments) other than any Priority Lien Obligations constituting Excess
Priority Lien Obligations and (B) if applicable, all loans (and related obligations, including interest, fees and expenses) provided by any of the Priority Lien Secured Parties in connection with a DIP Financing and to otherwise complete such
purchase on the terms set forth under this Section 3.06. 
 (b)    On the date specified by
the Second Lien Agent (on behalf of the Second Lien Purchasers) in such irrevocable commitment (which shall not be less than five Business Days nor more than 15 Business Days, after the receipt by the Priority Lien Agent of such irrevocable
commitment), the Priority Lien Secured Parties shall sell to the Second Lien Purchasers (i) all (but not less than all) Priority Lien Obligations (including unfunded commitments) other than any Priority Lien Obligations constituting Excess
Priority Lien Obligations and (ii) if applicable, all loans (and related obligations, including interest, fees and expenses) provided by any of the Priority Lien Secured Parties in connection with a DIP Financing that are outstanding on the
date of such sale, subject to any required approval of any Governmental Authority then in effect, if any, and only if on the date of such sale, the Priority Lien Agent (or, in the case of clause (ii) below, the issuer of the outstanding letters
of credit) receives the following: 
 (i)    payment, as the purchase price for all Priority Lien
Obligations sold in such sale, of an amount equal to the full amount of (i) all Priority Lien Obligations (other than outstanding letters of credit as referred to in clause (ii) below) other than any Priority Lien Obligations
constituting Excess Priority Lien Obligations and (ii) if applicable, all loans (and related obligations, including interest, fees and expenses) provided by any of the Priority Lien Secured Parties in connection with a DIP Financing then
outstanding (including principal, interest, fees, reasonable attorneys’ fees and legal expenses, but excluding contingent indemnification obligations for which no claim or demand for payment has been made at or prior to such time);
provided that in the case of Hedging Obligations that constitute Priority Lien Obligations the Second Lien Purchasers shall cause the applicable agreements governing such Hedging Obligations to be novated to counterparties acceptable to each
applicable Swap Counterparty (as defined in the Priority Lien Intercreditor Agreement) in its sole discretion or, if such agreements have been terminated, such purchase price shall include the net aggregate

  
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amount owing to each Swap Counterparty (as defined in the Priority Lien Intercreditor Agreement) pursuant to the terms of such agreements, including without limitation all amounts owing to each
such Swap Counterparty (as defined in the Priority Lien Intercreditor Agreement) as a result of the termination or early termination thereof; 

(ii)    a cash collateral deposit in such amount as the issuer of any outstanding letters of credit
constituting Priority Lien Obligations determines is reasonably necessary to secure the payment of such outstanding letters of credit that may become due and payable after such sale (but not in any event in an amount greater than one hundred five
percent (105%) of the amount then reasonably estimated by such letter of credit issuer to be the aggregate outstanding amount of such letters of credit at such time), which cash collateral shall be (A) held by such letter of credit issuer as
security solely to reimburse itself for such letters of credit that become due and payable after such sale and any fees and expenses incurred in connection with such letters of credit and (B) returned to the party designated by the Second Lien
Purchasers (except as may otherwise be required by applicable law or any order of any court or other Governmental Authority) promptly after the expiration or termination from time to time of all payment contingencies affecting such letters of credit
(and, in all events, within five Business Days after such letter of credit issuer’s knowledge of such expiration or termination); and 

(iii)    any customary agreements, documents or instruments which the Priority Lien Agent or requisite
Priority Lien Secured Parties may reasonably request pursuant to which the Second Lien Agent (or any other representative appointed by the holders of a majority in aggregate principal amount of the Second Lien Debt then outstanding) and the Second
Lien Purchasers in such sale expressly assume and adopt all of the obligations of the Priority Lien Agent and the Priority Lien Secured Parties under the Priority Lien Documents and in connection with loans (and related obligations, including
interest, fees and expenses) provided by any of the Priority Lien Secured Parties in connection with a DIP Financing on and after the date of the purchase and sale and the Second Lien Agent (or any other representative appointed by the holders of a
majority in aggregate principal amount of the Second Lien Debt then outstanding) becomes a successor agent thereunder. 

(c)    Such purchase of the Priority Lien Obligations (including unfunded commitments) and any loans provided by any of
the Priority Lien Secured Parties in connection with a DIP Financing shall be made on a pro rata basis among the Second Lien Purchasers giving notice to the Priority Lien Agent of their interest to exercise the purchase option hereunder
according to each such Second Lien Purchaser’s portion of the Second Lien Debt outstanding on the date of purchase or such portion as such Second Lien Purchasers may otherwise agree among themselves. Such purchase price and cash collateral
shall be remitted by wire transfer in federal funds to such bank account of the Priority Lien Agent as the Priority Lien Agent may designate in writing to the Second Lien Agent for such purpose. Interest shall be calculated to but excluding the
Business Day on which such sale occurs if the amounts so paid by the Second Lien Purchasers to the bank account designated by the Priority Lien Agent are received in such bank account prior to 12:00 noon, New York City time, and interest shall be
calculated to and including such Business Day if the amounts so paid by the Second Lien Purchasers to the bank account designated by the Priority Lien Agent are received in such bank account later than 12:00 noon, New York City time. 

(d)    Such sale shall be expressly made without representation or warranty of any kind by the Priority Lien Secured
Parties as to the Priority Lien Obligations, the Collateral or otherwise and without recourse to any Priority Lien Secured Party, except that the Priority Lien Secured Parties shall represent and warrant severally as to the Priority Lien Obligations
(including unfunded commitments) and any loans provided by any of the Priority Lien Secured Parties in connection with a DIP Financing then 

  
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owing to it: (i) that such applicable Priority Lien Secured Party own such Priority Lien Obligations (including unfunded commitments) and any loans provided by any of the Priority Lien
Secured Parties in connection with a DIP Financing; and (ii) that such applicable Priority Lien Secured Party has the necessary corporate or other governing authority to assign such interests. 

(e)    After such sale becomes effective, the outstanding letters of credit will remain enforceable against the issuers
thereof and will remain secured by the Priority Liens upon the Collateral in accordance with the applicable provisions of the Priority Lien Documents as in effect at the time of such sale, and the issuers of letters of credit will remain entitled to
the benefit of the Priority Liens upon the Collateral and sharing rights in the proceeds thereof in accordance with the provisions of the Priority Lien Documents as in effect at the time of such sale, as fully as if the sale of the Priority Lien
Debt had not been made, but only the Person or successor agent to whom the Priority Liens are transferred in such sale will have the right to foreclose upon or otherwise enforce the Priority Liens and only the Second Lien Purchasers in the sale will
have the right to direct such Person or successor as to matters relating to the foreclosure or other enforcement of the Priority Liens. 

(f)    Each Grantor irrevocably consents to any assignment effected to one or more Second Lien Purchasers pursuant to this
Section 3.06 (so long as they meet all eligibility standards contained in all relevant Priority Lien Documents), other than obtaining the consent of any Grantor to an assignment to the extent required by such Priority Lien
Documents. 
 ARTICLE IV 

OTHER AGREEMENTS 

SECTION 4.01    Release of Liens; Automatic Release of Second Liens. Prior to the Discharge of Priority Lien
Obligations, the Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, agrees that, in the event the Priority Lien Agent or the requisite Priority Lien Secured Parties under the Priority Lien Documents release the
Priority Lien on any Collateral, the Second Lien on such Collateral shall terminate and be released (automatically and without further action) to the extent that (i) such release is permitted under the Second Lien Documents, (ii) if the
notice required by the penultimate sentence of this Section 4.01 has been provided (subject to the proviso therein), such release is effected in connection with the Priority Lien Agent’s foreclosure upon, or other
exercise of rights or remedies with respect to, such Collateral, or (iii) such release is effected in connection with a sale or other Disposition of any Collateral (or any portion thereof) under Section 363 of the Bankruptcy Code or any
other provision of the Bankruptcy Code if the requisite Priority Lien Secured Parties under the Priority Lien Documents shall have consented to such sale or Disposition of such Collateral; provided that, in the case of each of
clauses (i), (ii) and (iii), the Second Liens on such Collateral shall attach to all proceeds thereof (and shall remain subject and subordinate to all Priority Liens securing Priority Lien Obligations, subject
to the Priority Lien Cap as set forth in this Agreement). The Priority Lien Agent agrees to give the Second Lien Agent no less than 10 Business Days advance written notice of any proposed release pursuant to clauses (ii) or (iii)
(other than pursuant to Section 363 of the Bankruptcy Code) of this Section 4.01 (provided that such notice shall not be required to the extent extraordinary exigent circumstances shall arise that would
irrevocably substantially impair the rights of the Priority Lien Secured Parties if such release were to be delayed by such 10 Business Day period) (each such notice, a “Priority Lien Release Notice”). Notwithstanding the foregoing
in this Section 4.01, if the Second Lien Purchasers have exercised their purchase option (or have committed to exercise their purchase option) pursuant to Section 3.06(a), no release pursuant to clauses
(ii) and (iii) of this Section 4.01 shall be permitted under this Section 4.01 to the extent (and only to the extent) that the Second Lien Purchasers shall not have defaulted on
their obligations to consummate the purchase of the Priority Lien Debt and other amounts contemplated by Section 3.06(a). 

  
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 SECTION 4.02    Certain Agreements With Respect to Insolvency or
Liquidation Proceedings. (a) The parties hereto, which for avoidance of doubt includes the Grantors, acknowledge that this Agreement is a “subordination agreement” under Section 510(a) of the Bankruptcy Code and shall
continue in full force and effect, notwithstanding the commencement of any Insolvency or Liquidation Proceeding by or against the Company or any of its subsidiaries. All references in this Agreement to the Company or any of its subsidiaries or any
other Grantor will include such Person or Persons as a debtor-in-possession and any receiver or trustee for such Person or Persons in an Insolvency or Liquidation
Proceeding. For the purposes of this Section 4.02, unless otherwise provided herein, clauses (b) through and including (l) shall be in full force and effect prior to the Discharge of Priority
Lien Obligations. 
 (b)    If the Company or any of its subsidiaries shall become subject to any Insolvency or
Liquidation Proceeding and shall, as debtor(s)-in-possession, or if any receiver or trustee for such Person or Persons shall, move for approval of financing
(“DIP Financing”) to be provided by one or more lenders (the “DIP Lenders”) under Section 364 of the Bankruptcy Code or the use of cash collateral under Section 363 of the Bankruptcy Code, the Second Lien
Agent, for itself and on behalf of each Second Lien Secured Party, agrees that neither it nor any other Second Lien Secured Party will raise any objection, contest or oppose, and each Second Lien Secured Party will waive any claim such Person may
now or hereafter have, to any such financing or to the Liens on the Collateral securing the same (“DIP Financing Liens”), or to any use, sale or lease of cash collateral that constitutes Collateral or to any grant of administrative
expense priority under Section 364 of the Bankruptcy Code, unless (A) the Priority Lien Agent or the Priority Lien Secured Parties oppose or object to such DIP Financing or such DIP Financing Liens or such use of cash collateral,
(B) the maximum principal amount of Indebtedness permitted under such DIP Financing exceeds the sum of the amount of Priority Lien Obligations refinanced with the proceeds thereof (not including the amount of any Excess Priority Lien
Obligations) and that amount equal to 15% of the aggregate principal amount of the Priority Lien Obligations outstanding immediately prior to the commencement of such Insolvency or Liquidation Proceeding (not including any Excess Priority Lien
Obligations), (C) the terms of such DIP Financing provide for the sale of a substantial part of the Collateral (unless a Discharge of Priority Lien Obligations shall be effected substantially contemporaneously with such sale) or require the
confirmation of a plan of reorganization containing specific terms or provisions (other than repayment in cash of such DIP Financing on the effective date thereof), (D) the proposed effective interest rate of any such DIP Financing is not
commercially reasonable under the circumstances (as reasonably determined in the good faith of the Board of Directors of the Company), (E) the Second Lien Secured Parties are not permitted to seek adequate protection to the extent permitted by
Section 4.02(f) or (F) such DIP Financing directly or indirectly provides for, or has the effect of providing for, the payment (whether in cash or otherwise) of any Excess Priority Lien Obligations prior to the Discharge of Second Lien
Obligations. To the extent such DIP Financing Liens are senior to, or rank pari passu with, the Priority Liens, the Second Lien Agent will, for itself and on behalf of the other Second Lien Secured Parties, subordinate the Second Liens
on the Collateral to the Priority Liens and to such DIP Financing Liens, so long as the Second Lien Agent, on behalf of the Second Lien Secured Parties, retains Liens on all the Collateral, including proceeds thereof arising after the commencement
of any Insolvency or Liquidation Proceeding, with the same priority relative to the Priority Liens as existed prior to the commencement of the case under the Bankruptcy Code. Notwithstanding the foregoing in this
Section 4.02, the Second Lien Agent and the Second Lien Secured Parties shall have the right to (i) object to any provisions of the DIP Financing provided by the Priority Lien Agent or any Priority Lien Secured Parties
relating to any provision or content of a plan of reorganization (other than repayment in cash of such DIP Financing on the effective date thereof) or (ii) object to any DIP Financing to the extent that it permits the Priority Lien Agent or any
Priority Lien Secured Parties to be granted adequate protection in the form of additional collateral without the Second Lien Agent and the Second Lien Secured Parties being granted adequate protection in the form of a Lien on such additional
collateral that is subordinated to the Liens securing the Priority Lien Debt on the same basis as the other Liens securing the Second Lien Debt are so subordinated to Liens securing the Priority Lien Debt under this Agreement. 

  
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 (c)    Prior to the Discharge of Priority Lien Obligations, without the
consent of the Priority Lien Agent, in its sole discretion, the Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, agrees not to propose, support or enter into any DIP Financing. 

(d)    The Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, agrees that it will not
object to, oppose or contest (or join with or support any third party objecting to, opposing or contesting) (“Section 363 Objections”) a sale or other Disposition, a motion to sell or Dispose or the bidding procedure for such
sale or Disposition of any Collateral (or any portion thereof) under Section 363 of the Bankruptcy Code or any other provision of the Bankruptcy Code (any such sale or motion, a “Section 363 Event” and any
notice or ruling issued by a court of competent jurisdiction in respect of such Section 363 Event, a “Section 363 Notice”) if the requisite Priority Lien Secured Parties under the Priority Lien Documents
shall have consented to such sale or Disposition and to such motion to sell or Dispose or such bidding procedure for such sale or Disposition of such Collateral, and if all Priority Liens and Second Liens will attach to the proceeds of the sale in
the same respective priorities as set forth in this Agreement. Notwithstanding the foregoing in this Section 4.02(d), if the Second Lien Purchasers have exercised their purchase option (or have committed to exercise their purchase option)
pursuant to Section 3.06(a), Section 363 Objections shall be permitted to be made by the Second Lien Agent or any other Second Lien Secured Party. 

(e)    The Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, waives any claim that may
be had against the Priority Lien Agent or any other Priority Lien Secured Party arising out of any DIP Financing Liens (that is granted in a manner that is consistent with this Agreement) or administrative expense priority under Section 364 of
the Bankruptcy Code. 
 (f)    The Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party,
agrees that neither the Second Lien Agent nor any other Second Lien Secured Party will file or prosecute in any Insolvency or Liquidation Proceeding any motion for adequate protection (or any comparable request for relief) based upon their interest
in the Collateral, nor object to, oppose or contest (or join with or support any third party objecting to, opposing or contesting) (i) any request by the Priority Lien Agent or any other Priority Lien Secured Party for adequate protection or
(ii) any objection by the Priority Lien Agent or any other Priority Lien Secured Party to any motion, relief, action or proceeding based on the Priority Lien Agent or Priority Lien Secured Parties claiming a lack of adequate protection, except
that the Second Lien Secured Parties may freely seek and obtain: (A) relief granting adequate protection in the form of a replacement Lien co-extensive in all respects with, but subordinated (as set forth
in Section 2.01) to, and with the same relative priority to the Priority Liens as existed prior to the commencement of the Insolvency or Liquidation Proceeding, all Liens granted in the Insolvency or Liquidation Proceeding
to, or for the benefit of, the Priority Lien Secured Parties; and (B) any relief upon a motion for adequate protection (or any comparable relief), without any condition or restriction whatsoever, at any time after the Discharge of Priority Lien
Obligations. 
 (g)    The Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, agrees
that in any Insolvency or Liquidation Proceeding, neither the Second Lien Agent nor any other Second Lien Secured Party shall support or vote to accept any plan of reorganization or disclosure statement of the Company or any other Grantor unless
(i) such plan is accepted by the Class of Priority Lien Secured Parties in accordance with Section 1126(c) of the Bankruptcy Code or otherwise provides for the payment in full in cash of all Priority Lien Obligations (including all post-petition interest approved by the bankruptcy court, fees and expenses and cash collateralization of all letters of credit) on the effective date of such plan of reorganization, or (ii) such plan provides
on account of the Priority Lien 

  
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Secured Parties for the retention by the Priority Lien Agent, for the benefit of the Priority Lien Secured Parties, of the Liens on the Collateral securing the Priority Lien Obligations, and on
all proceeds thereof whenever received, and such plan also provides that any Liens retained by, or granted to, the Second Lien Agent are only on property securing the Priority Lien Obligations and shall have the same relative priority with respect
to the Collateral or other property, respectively, as provided in this Agreement with respect to the Collateral. Except as provided herein, each of the Second Lien Secured Parties shall remain entitled to vote their claims in any such Insolvency or
Liquidation Proceeding.     
 (h)    The Second Lien Agent, for itself and on behalf of each other
Second Lien Secured Party, agrees that until the Discharge of Priority Lien Obligations has occurred, subject to the provisions of Section 3.02, neither the Second Lien Agent nor any other Second Lien Secured Party shall
seek relief, pursuant to Section 362(d) of the Bankruptcy Code or otherwise, from the automatic stay of Section 362(a) of the Bankruptcy Code or from any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral
if the Priority Lien Agent has not received relief from the automatic stay (or it has not been lifted for the Priority Lien Agent’s benefit), without the prior written consent of the Priority Lien Agent. 

(i)    Without the express written consent of the Priority Lien Agent, none of the Second Lien Agent or any other Second
Lien Secured Party shall (or shall join with or support any third party in opposing, objecting to or contesting, as the case may be), in any Insolvency or Liquidation Proceeding involving any Grantor, (i) except as contemplated by clause
(a)(i)(B)(II) of Section 3.05, oppose, object to or contest the determination of the extent of any Liens held by any of Priority Lien Secured Party or the value of any claims of any such holder under Section 506(a)
of the Bankruptcy Code or (ii) oppose, object to or contest the payment to the Priority Lien Secured Party of interest, fees or expenses under Section 506(b) of the Bankruptcy Code. 

(j)    The Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, hereby agrees that prior
to the Discharge of Priority Lien Obligations or the effectiveness of a purchase by Second Lien Purchasers in accordance with Section 3.06, whichever occurs first, the Priority Lien Agent shall have the exclusive right to
credit bid the Priority Lien Obligations and further that none of the Second Lien Agent or any other Second Lien Secured Party shall (or shall join with or support any third party in opposing, objecting to or contesting, as the case may be) oppose,
object to or contest such credit bid of the Priority Lien Obligations by the Priority Lien Agent. 
 (k)    Without the
consent of the Priority Lien Agent in its sole discretion, the Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, agrees it will not file an involuntary bankruptcy claim or seek the appointment of an examiner or a
trustee for the Company or any of its subsidiaries. 
 (l)    The Second Lien Agent, for itself and on behalf of each
other Second Lien Secured Party, waives any right to assert or enforce any claim under Sections 506(c) or 552 of the Bankruptcy Code as against any Priority Lien Secured Party or any of the Collateral, except as expressly permitted by this
Agreement. 
 SECTION 4.03    Reinstatement. 

(a)    If any Priority Lien Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over
or otherwise pay to the estate of any Grantor any amount (a “Recovery”) for any reason whatsoever, then the Priority Lien Obligations shall be reinstated to the extent of such Recovery and the Priority Lien Secured Parties shall be
entitled to a reinstatement of Priority Lien Obligations with respect to all such recovered amounts. The Second Lien Agent, for itself and on behalf 

  
 22 

 
of each other Second Lien Secured Party, agrees that if, at any time, a Second Lien Secured Party receives notice of any Recovery, the Second Lien Secured Party shall, to the extent consistent
with Section 6.01(a), promptly pay over to the Priority Lien Agent any payment received by it and then in its possession or under its control in respect of any Collateral subject to any Priority Lien securing such Priority Lien Obligations
and shall, to the extent consistent with Section 6.01(a), promptly turn any Collateral subject to any such Priority Lien then held by it over to the Priority Lien Agent, and the provisions set forth in this Agreement shall be reinstated as if
such payment had not been made. If this Agreement shall have been terminated prior to any such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or
otherwise affect the obligations of the parties hereto from such date of reinstatement. Any amounts received by the Second Lien Agent or any other Second Lien Secured Party and then in its possession or under its control on account of the Second
Lien Obligations after the termination of this Agreement shall, in the event of a reinstatement of this Agreement pursuant to this Section 4.03 and to the extent consistent with Section 6.01(a), be held in trust for
and paid over to the Priority Lien Agent for the benefit of the Priority Lien Secured Parties for application to the reinstated Priority Lien Obligations until the discharge thereof. 

(b)    This Section 4.03 shall survive termination of this Agreement. 

SECTION 4.04    Refinancings. 

(a)    The Priority Lien Obligations may be Replaced by any Priority Refinancing Credit Facility without notice to, or the
consent of any Secured Party, all without affecting the Lien priorities provided for herein or the other provisions hereof; provided, that (i) the Second Lien Agent shall receive on or prior to incurrence of a Priority Refinancing Credit
Facility (A) an Officers’ Certificate from the Company stating and certifying that (I) the incurrence thereof and the related Liens are permitted to be incurred by each applicable Secured Debt Document, (II) the requirements of
Section 4.06 have been satisfied, and (III) such Priority Refinancing Credit Facility constitutes “Priority Lien Debt” for the purposes of the Secured Debt Documents and this Agreement, (B) a Priority
Confirmation Joinder from an authorized agent, trustee or other representative of the holders or lenders of any Indebtedness that Replaces the Priority Lien Obligations and, to the extent necessary or appropriate to facilitate such transaction, a
new intercreditor agreement substantially similar to this Agreement, as in effect on the date hereof and (C) evidence that the Company has duly authorized, executed (if applicable) and recorded (or caused to be recorded) in each appropriate
governmental office all relevant filings and recordations deemed necessary by the Company and the holder of such Replacement, or its Secured Debt Representative, to ensure that such Replacement is secured by the Collateral in accordance with the
applicable Security Documents (provided that such filings and recordings may be authorized, executed and recorded following any incurrence on a post-closing basis if permitted by the applicable Secured
Debt Representative), and (ii) the aggregate outstanding principal amount of the Priority Lien Obligations, after giving effect to such Priority Refinancing Credit Facility, shall not exceed the Priority Lien Cap. 

(b)    Notwithstanding anything contained in this Section 4.04, nothing in this Agreement will
be construed to allow the Company or any other Grantor to incur additional Indebtedness (or to incur, assume or otherwise permit or allow to exist any Liens) unless otherwise permitted by the terms of each applicable Secured Debt Document. 

SECTION 4.05    Amendments to Priority Lien Documents and Second Lien Documents . 

(a)    Prior to the Discharge of Second Lien Obligations, without the prior written consent of the Second Lien Agent, no
Priority Lien Document may be amended, supplemented, restated or otherwise modified and/or refinanced or entered into to the extent such amendment, supplement, 

  
 23 

 
restatement or modification and/or refinancing, or the terms of any new Priority Lien Document would (i) adversely affect the Lien priority rights of the Second Lien Secured Parties or the
rights of the Second Lien Secured Parties, as the case may be, to receive required payments that are due and payable (or than are otherwise owed) pursuant to the Second Lien Documents, (ii) except upon compliance with Section 2.03, grant
any Liens on any additional Collateral to secure the Obligations under the Priority Lien Security Documents, (iii) contravene the provisions of this Agreement or the Second Lien Documents, (iv) increase the outstanding principal amount of
the loans and other extensions of credit and the stated amount of letters of credit under the Priority Credit Agreement and/or any Priority Refinancing Credit Facility and/or any other Priority Lien Documents to an aggregate amount being in excess
of the amount set forth in clause (a) of the definition of “Priority Lien Cap”, (v) change any covenants, defaults, or events of default under any Priority Lien Document (including the addition of covenants, defaults, or events of
default not contained in the Priority Credit Agreement or other Priority Lien Documents as in effect on the date hereof) to restrict any Grantor from making payments of the Second Lien Debt that would otherwise be permitted under the Priority Lien
Documents as in effect on the date hereof, or (vi) except as otherwise contemplated or required by the Priority Lien Documents (as in effect on the date hereof) or any equivalent terms in any Priority Lien Document entered into after the date
hereof that are no more extensive than the Priority Lien Documents as in effect on the date hereof, and except in connection with any DIP Financing permitted hereunder, expressly subordinate the Lien on the Collateral under the Priority Lien
Documents to Liens on the Collateral securing any other Indebtedness. 
 (b)    Prior to the Discharge of Priority Lien
Obligations, without the prior written consent of the Priority Lien Agent, no Second Lien Document may be amended, supplemented, restated or otherwise modified and/or refinanced or entered into to the extent such amendment, supplement, restatement
or modification and/or refinancing, or the terms of any new Second Lien Document would (i) adversely affect the Lien priority rights of the Priority Lien Secured Parties or the rights of the Priority Lien Secured Parties to receive payments
owing pursuant to the Priority Lien Documents, (ii) except as otherwise provided for in this Agreement, add any Liens securing the Collateral granted under the Second Lien Security Documents, (iii) confer any additional material rights on
the Second Lien Agent or any other Second Lien Secured Party in a manner adverse in any material respect to the Priority Lien Secured Parties (other than for periods following the latest maturity date under the Priority Credit Agreement) unless a
similar modification is concurrently made under the Priority Lien Documents, (iv) contravene the provisions of this Agreement or the Priority Lien Documents, (v) change to earlier dates any dates upon which required payments of principal
or interest are due thereon (except to the extent that equivalent changes are implemented under the First Lien Documents), (vi) change the mandatory redemption, prepayment, repurchase, tender or defeasance provisions thereof in a manner that would
require a redemption, prepayment, repurchase, tender or defeasance not required pursuant to the terms of such Second Lien Document as of the date hereof, or in a manner materially adverse to the interests of the Priority Lien Secured Parties,
(vii) change any covenants, defaults, or events of default under the Second Lien Indenture or any other Second Lien Document (including the addition of covenants, defaults, or events of default not contained in the Second Lien Indenture or
other Second Lien Documents as in effect on the date hereof) to restrict any Grantor from making payments of the Priority Lien Debt that would otherwise be permitted under the Second Lien Documents as in effect on the date hereof, (viii) change
any default or event of default thereunder in a manner materially adverse to Grantors thereunder (it being understood that any waiver of any such default or event of default, in and of itself, shall not be deemed to be materially adverse to
Grantors) when taken as a whole, than any corresponding defaults or events of default under the Priority Lien Documents (other than for periods following the Discharge of Priority Lien Obligations) unless a similar amendment or modification is
concurrently made under the Priority Lien Documents, or (ix) increase materially the non-monetary obligations of Grantors thereunder or confer any additional material rights on the Second Lien Secured
Parties that would be adverse to the interests of the Priority Lien Secured Parties (as in effect from time to time) (other than for periods following the latest maturity date under the Priority Credit Agreement) unless a similar modification is
concurrently made under the Priority Lien Documents. 

  
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 SECTION 4.06    Legends. Each of: 

(a)    the Priority Lien Agent acknowledges and agrees with respect to the Priority Credit Agreement and the Priority Lien
Security Documents, and 
 (b)    the Second Lien Agent acknowledges and agrees with respect to the Second Lien
Indenture and the Second Lien Security Documents, 
 that the Second Lien Indenture, the Second Lien Documents (other than control agreements to which both
the Priority Lien Agent and the Second Lien Agent are parties), and each Security Document (other than control agreements to which both the Priority Lien Agent and the Second Lien Agent are parties) granting any security interest in the Collateral
will contain the appropriate legend set forth on Annex I. 
 SECTION 4.07    Second
Lien Secured Parties Rights as Unsecured Creditors; Judgment Lien Creditor. Both before and during an Insolvency or Liquidation Proceeding, any of the Second Lien Secured Parties may take any actions and exercise any and all rights that would be
available to a holder of unsecured claims; provided, however, that the Second Lien Secured Parties may not take any of the actions prohibited by Section 3.05(a) or Section 4.02 or any
other provisions in this Agreement; provided, further, that in the event that any of the Second Lien Secured Parties becomes a judgment Lien creditor in respect of any Collateral as a result of its enforcement of its rights as an
unsecured creditor with respect to the Second Lien Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the Priority Lien Obligations and the Second Lien Obligations, as
applicable) as the Second Liens are subject to this Agreement. 
 SECTION 4.08    Postponement of
Subrogation. The Second Lien Agent, for itself and on behalf of each other Second Lien Secured Party, hereby agrees that no payment or distribution to any Priority Lien Secured Party pursuant to the provisions of this Agreement shall entitle any
Second Lien Secured Party to exercise any rights of subrogation in respect thereof until the Discharge of Priority Lien Obligations shall have occurred. Following the Discharge of Priority Lien Obligations, but subject to the reinstatement as
provided in Section 4.03, each Priority Lien Secured Party will execute such documents, agreements, and instruments as any Second Lien Secured Party may reasonably request to evidence the transfer by subrogation to any such
Person of an interest in the Priority Lien Obligations resulting from payments or distributions to such Priority Lien Secured Party by such Person, so long as all costs and expenses (including all reasonable legal fees and disbursements) incurred in
connection therewith by such Priority Lien Secured Party are paid by such Person upon request for payment thereof. 

SECTION 4.09    Acknowledgment by the Secured Debt Representatives. Each of the Priority Lien Agent, for
itself and on behalf of the other Priority Lien Secured Parties, and the Second Lien Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby acknowledges that this Agreement is a material inducement to enter into a business
relationship, that each has relied on this Agreement to enter into the Priority Credit Agreement and the Second Lien Indenture, as applicable, and all documentation related thereto, and that each will continue to rely on this Agreement in their
related future dealings. 
 SECTION 4.10    Automatic Amendments to Second Lien Security Documents. In the
event the Priority Lien Agent or the other Priority Lien Secured Parties and the relevant Grantors enter into any amendment, waiver or consent in respect of any of the documents evidencing or giving rise the Priority Liens for the purpose of adding
to, or deleting from, or waiving or consenting to any departures 

  
 25 

 
from any provision thereof, such amendment, waiver or consent shall apply automatically (to the extent permitted by law) to any comparable provision of the comparable Second Lien Security
Documents evidencing or giving rise to the Second Liens without any action by or consent of the Second Lien Secured Parties, provided, that (other than with respect to amendments, modifications or waivers that secure additional extensions of credit
and add additional secured creditors and do not violate the express provisions of the Second Lien Indenture), (A) no such amendment, waiver or consent shall effect the release of Liens on Collateral unless such release is otherwise permitted under
this Agreement and the Second Lien Indenture, (B) no such amendment, waiver or consent that materially and adversely affects the rights of the Second Lien Secured Parties but does not so materially and adversely affect the Priority Lien Secured
Parties in a like or similar manner shall apply to the Second Lien Security Documents without the consent of the Second Lien Agent (acting with the consent of the majority of the Second Lien Secured Parties in accordance with the Second Lien
Indenture), (C) notice of such amendment, waiver or consent shall be given by the Company to the Second Lien Agent no later than five days prior its effectiveness, provided that to the extent permitted by law, the failure to give such notice shall
not affect the effectiveness and validity thereof, (D) if any Priority Lien Secured Parties are paid or otherwise receive any fee or other consideration for granting any such amendment, waiver or consent, the holders of the Notes (as defined in
the Second Lien Indenture) shall receive an equal fee or consideration and (E) no such amendment, waiver or consent shall affect the rights and duties of the Second Lien Agent without the prior written consent of the Second Lien Agent. 

ARTICLE V 
 GRATUITOUS
BAILMENT FOR PERFECTION OF CERTAIN SECURITY INTERESTS 
 SECTION 5.01    General. Prior to the Discharge
of Priority Lien Obligations, the Priority Lien Agent agrees that if it shall at any time hold a Priority Lien on any Collateral that can be perfected by the possession or control of such Collateral or of any Account in which such Collateral is
held, and if such Collateral or any such Account is in fact in the possession or under the control of the Priority Lien Agent, the Priority Lien Agent will serve as gratuitous bailee for the Second Lien Agent for the sole purpose of perfecting the
Second Lien of the Second Lien Agent on such Collateral. It is agreed that the obligations of the Priority Lien Agent and the rights of the Second Lien Agent and the other Second Lien Secured Parties in connection with any such bailment arrangement
will be in all respects subject to the provisions of Article II. Notwithstanding anything to the contrary herein, the Priority Lien Agent will be deemed to make no representation as to the adequacy of the steps taken by it
to perfect the Second Lien on any such Collateral and shall have no responsibility, duty, obligation or liability to the Second Lien Agent, any other Second Lien Secured Party or any other Person for such perfection or failure to perfect, it being
understood that the sole purpose of this Article is to enable the Second Lien Secured Parties to obtain a perfected Second Lien in such Collateral to the extent, if any, that such perfection results from the possession or control of such Collateral
or any such Account by the Priority Lien Agent. The Priority Lien Agent acting pursuant to this Section 5.01 shall not have by reason of the Priority Lien Security Documents, the Second Lien Security Documents, this
Agreement or any other document or theory, a fiduciary relationship in respect of any Priority Lien Secured Party, the Second Lien Agent or any Second Lien Secured Party. Subject to Section 4.03, from and after the
Discharge of Priority Lien Obligations, the Priority Lien Agent shall take all such actions in its power as shall reasonably be requested by the Second Lien Agent (at the sole cost and expense of the Grantors) to transfer possession or control of
such Collateral or any such Account (in each case to the extent the Second Lien Agent has a Lien on such Collateral or Account after giving effect to any prior or concurrent releases of Liens) to the Second Lien Agent for the benefit of all Second
Lien Secured Parties. 
 SECTION 5.02    Deposit Accounts. Prior to the Discharge of Priority Lien
Obligations, to the extent that any Account is under the control of the Priority Lien Agent at any time, the 

  
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Priority Lien Agent will act as gratuitous bailee for the Second Lien Agent for the purpose of perfecting the Liens of the Second Lien Secured Parties in such Accounts and the cash and other
assets therein as provided in Section 3.01 (but will have no duty, responsibility or obligation to the Second Lien Secured Parties (including, without limitation, any duty, responsibility or obligation as to the maintenance
of such control, the effect of such arrangement or the establishment of such perfection) except as set forth in the last sentence of this Section 5.02). Unless the Second Liens on such Collateral shall have been or
concurrently are released, after the occurrence of Discharge of Priority Lien Obligations, the Priority Lien Agent shall, at the request of the Second Lien Agent, cooperate with the Grantors and the Second Lien Agent (at the expense of the Grantors)
in permitting control of any other Accounts to be transferred to the Second Lien Agent (or for other arrangements with respect to each such Accounts satisfactory to the Company and the Second Lien Agent to be made). 

ARTICLE VI 
 APPLICATION
OF PROCEEDS; DETERMINATION OF AMOUNTS 
 SECTION 6.01    Application of Proceeds. (a) Prior to the
Discharge of Priority Lien Obligations, and regardless of whether an Insolvency or Liquidation Proceeding has been commenced, Collateral or proceeds received in connection with the enforcement or exercise of any rights or remedies with respect to
any portion of the Collateral or with respect to the occurrence of any “Change of Control” (or similar term) as such term is defined under any Priority Lien Document or the Second Lien Documents, will be applied: 

(i)    first, to the payment in full in cash of all Priority Lien Obligations that are not Excess
Priority Lien Obligations, which Collateral or proceeds shall be applied by the Priority Lien Agent pursuant to the Priority Lien Intercreditor Agreement, 

(ii)    second, to the payment in full in cash of all Second Lien Obligations, 

(iii)    third, to the payment in full in cash of all Excess Priority Lien Obligations, and 

(iv)    fourth, to the Company or as otherwise required by applicable law. 

For the avoidance of doubt and notwithstanding anything to the contrary contained in this Section 6.01(a), the provisions of this Section 6.01(a) shall not
apply to any payments required to be made by the Company or any of its Subsidiaries in connection with any “Change of Control” offer to purchase Indebtedness under any Second Lien Documents which is permitted to be made under the terms of
the Priority Lien Documents. 
 (b)    Following the Discharge of Priority Lien Obligations but prior to the Discharge
of Second Lien Obligations, and regardless of whether an Insolvency or Liquidation Proceeding has been commenced, Collateral or proceeds received in connection with the enforcement or exercise of any rights or remedies with respect to any portion of
the Collateral will be applied: 
 (i)    first, to the payment in full in cash of all Second Lien
Obligations, and 
 (ii)    second, to the Company or as otherwise required by applicable law.

 SECTION 6.02    Determination of Amounts. Whenever a Secured Debt Representative shall be required, in
connection with the exercise of its rights or the performance of its 

  
 27 

 
obligations hereunder, to determine the existence or amount of any Priority Lien Obligations (or the existence of any commitment to extend credit that would constitute Priority Lien Obligations
or that distributions have been made in accordance with the Priority Lien Intercreditor Agreement), Second Lien Obligations, or the existence of any Lien securing any such obligations, or the Collateral subject to any such Lien, it may request that
such information be furnished to it in writing by the other Secured Debt Representatives and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that if a Secured Debt
Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Secured Debt Representative shall be entitled to make any such determination by such method as it may, in the exercise of its good faith
judgment, determine, including by reliance upon a certificate of the Company. Each Secured Debt Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of
the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to the Company or any of its subsidiaries, any Secured Party or any other Person as a result of such determination. 

ARTICLE VII 
 NO
RELIANCE; NO LIABILITY; OBLIGATIONS ABSOLUTE; 
 CONSENT OF GRANTORS; ETC. 

SECTION 7.01    No Reliance; Information. The Priority Lien Secured Parties and the Second Lien Secured
Parties shall have no duty to disclose to any Second Lien Secured Party or to any Priority Lien Secured Party, as the case may be, any information relating to the Company or any of the other Grantors, or any other circumstance bearing upon the risk
of non-payment of any of the Priority Lien Obligations or the Second Lien Obligations, as the case may be, that is known or becomes known to any of them or any of their Affiliates. In the event any Priority
Lien Secured Party or any Second Lien Secured Party, in its sole discretion, undertakes at any time or from time to time to provide any such information to, any Second Lien Secured Party or any Priority Lien Secured Party, as the case may be, it
shall be under no obligation (a) to make, and shall not make or be deemed to have made, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of the information so
provided, (b) to provide any additional information or to provide any such information on any subsequent occasion or (c) to undertake any investigation. 

SECTION 7.02    No Warranties or Liability. 

(a)    The Priority Lien Agent, for itself and on behalf of the other Priority Lien Secured Parties, acknowledges and
agrees that, except for the representations and warranties set forth in Article VIII, neither the Second Lien Agent nor any other Second Lien Secured Party has made any express or implied representation or warranty,
including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Second Lien Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. 

(b)    The Second Lien Agent, for itself and on behalf of the other Second Lien Secured Parties, acknowledges and agrees
that, except for the representations and warranties set forth in Article VIII, neither the Priority Lien Agent nor any other Priority Lien Secured Party has made any express or implied representation or warranty, including
with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Priority Lien Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. 

(c)    The Priority Lien Agent and the other Priority Lien Secured Parties shall have no express or implied duty to the
Second Lien Agent or any other Second Lien Secured Party, and the 

  
 28 

 
Second Lien Agent and the other Second Lien Secured Parties shall have no express or implied duty to the Priority Lien Agent, any other Priority Lien Secured Party, to act or refrain from acting
in a manner which allows, or results in, the occurrence or continuance of a default or an event of default under any Priority Lien Document and any Second Lien Document (other than, in each case, this Agreement), regardless of any knowledge thereof
which they may have or be charged with. 
 (d)    The Second Lien Agent, for itself and on behalf of each other Second
Lien Secured Party, hereby waives any claim that may be had against the Priority Lien Agent or any other Priority Lien Secured Party arising out of any actions which the Priority Lien Agent or such Priority Lien Secured Party takes or omits to take
(including actions with respect to the creation, perfection or continuation of Liens on any Collateral, actions with respect to the foreclosure upon, sale, release or depreciation of, or failure to realize upon, any Collateral, and actions with
respect to the collection of any claim for all or only part of the Priority Lien Obligations from any account debtor, guarantor or any other party) in accordance with this Agreement and the Priority Lien Documents or the valuation, use, protection
or release of any security for such Priority Lien Obligations. 
 SECTION 7.03    Obligations Absolute. The
Lien priorities provided for herein and the respective rights, interests, agreements and obligations hereunder of the Priority Lien Agent and the other Priority Lien Secured Parties, the Second Lien Agent and the other Second Lien Secured Parties
shall remain in full force and effect irrespective of: 
 (a)    any lack of validity or enforceability
of any Secured Debt Document; 
 (b)    any change in the time, place or manner of payment of, or in any
other term of (including the Replacing of), all or any portion of the Priority Lien Obligations, it being specifically acknowledged that a portion of the Priority Lien Obligations consists or may consist of Indebtedness that is revolving in nature,
and the amount thereof that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed; 

(c)    any amendment, waiver or other modification, whether by course of conduct or otherwise, of any
Secured Debt Document; 
 (d)    the securing of any Priority Lien Obligations or Second Lien Obligations
with any additional collateral or guarantees, or any exchange, release, voiding, avoidance or non-perfection of any security interest in any Collateral or any other collateral or any release of any guarantee
securing any Priority Lien Obligations or Second Lien Obligations; 
 (e)    the commencement of any
Insolvency or Liquidation Proceeding in respect of the Company or any other Grantor; or 
 (f)    any
other circumstances that otherwise might constitute a defense available to, or a discharge of, the Company or any other Grantor in respect of the Priority Lien Obligations or the Second Lien Obligations. 

SECTION 7.04    Grantors Consent. Each Grantor hereby consents to the provisions of this Agreement and the
intercreditor arrangements provided for herein and agrees that the obligations of the Grantors under the Secured Debt Documents will in no way be diminished or otherwise affected by such provisions or arrangements (except as expressly provided
herein). 

  
 29 

 
ARTICLE VIII 
 REPRESENTATIONS AND WARRANTIES 

SECTION 8.01    Representations and Warranties of Each Party. Each party hereto represents and warrants to the
other parties hereto as follows: 
 (a)    Such party is duly organized, validly existing and in good
standing under the laws of the jurisdiction of its organization and has all requisite power and authority to enter into and perform its obligations under this Agreement. 

(b)    This Agreement has been duly executed and delivered by such party. 

(c)    The execution, delivery and performance by such party of this Agreement (i) do not require any
consent or approval of, registration or filing with or any other action by any Governmental Authority of which the failure to obtain could reasonably be expected to have a Material Adverse Effect (as defined in the Priority Credit Agreement), (ii)
will not violate any applicable law or regulation or any order of any Governmental Authority or any indenture, agreement or other instrument binding upon such party which could reasonably be expected to have a Material Adverse Effect and
(iii) will not violate the charter, by-laws or other organizational documents of such party. 

SECTION 8.02    Representations and Warranties of Each Representative. Each of the Priority Lien Agent and the
Second Lien Agent represents and warrants to the other parties hereto that it is authorized under the Priority Credit Agreement and the Second Lien Indenture, as the case may be, to enter into this Agreement. 

ARTICLE IX 

MISCELLANEOUS 

SECTION 9.01    Notices. All notices and other communications provided for herein shall be in writing and
shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 
  

	 	(a)	if to the Priority Lien Agent, to it at: 

 Wilmington Trust, National Association 

Rodney Square, 1100 North Market Street 

Wilmington, DE 19890 

Attention: Jennifer K. Anderson 

Facsimile No.: (302) 636-4145 

email: JKAnderson@wilmingtontrust.com 

with a copy to: 

Arnold & Porter Kaye Scholer LLP 

250 West 55th Street 

New York, NY 10019 
 Attention:
Alan Glantz 
 Facsimile No.: (212) 836-6763 

email: Alan.Glantz@APKS.com 

  
 30 

	 	(b)	if to the Second Lien Agent, to it at: 

 Wilmington Trust, National Association 

Global Capital Markets 
 15950
N. Dallas Parkway, Suite 550 
 Dallas, TX 75248 

Facsimile: 888-316-6238 

Attn: Gastar Exploration Inc. Account Manager 

(c)    if to any other Secured Debt Representative, to such address as specified in the Priority Confirmation Joinder.

 Any party hereto may change its address or facsimile number for notices and other communications hereunder by notice to the other parties
hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt (if a Business Day) and on the next Business Day thereafter (in all
other cases) if delivered by hand or overnight courier service or sent by telecopy or on the date five Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party
as provided in this Section 9.01 or in accordance with the latest unrevoked direction from such party given in accordance with this Section 9.01. As agreed to in writing among the Company, the
Priority Lien Agent and the Second Lien Agent from time to time, notices and other communications may also be delivered by e-mail to the e-mail address of a
representative of the applicable person provided from time to time by such person. 
 SECTION 9.02    Waivers;
Amendment. (a) No failure or delay on the part of any party hereto in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the parties hereto are cumulative and are not exclusive of any rights or
remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of
this Section 9.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any party hereto in any case shall entitle such party to any
other or further notice or demand in similar or other circumstances. 
 (b)    Neither this Agreement nor any provision
hereof may be terminated, waived, amended or modified except pursuant to an agreement or agreements in writing entered into by each Secured Debt Representative; provided, however, that this Agreement may be amended from time to time as
provided in Section 4.04; and provided further, however, that this Agreement may not be amended or modified in a manner that adversely affects the rights or obligations of the Grantors hereunder in any
material respects without the consent of the Company. Any amendment of this Agreement that is proposed to be effected without the consent of a Secured Debt Representative as permitted by the proviso to the preceding sentence shall be submitted to
such Secured Debt Representative for its review at least 5 Business Days prior to the proposed effectiveness of such amendment. 

SECTION 9.03    Actions Upon Breach; Specific Performance. (a) Prior to the Discharge of Priority Lien
Obligations, if any Second Lien Secured Party, contrary to this Agreement, 

  
 31 

 
commences or participates in any action or proceeding against any Grantor or the Collateral, such Grantor, with the prior written consent of the Priority Lien Agent, may interpose as a defense or
dilatory plea the making of this Agreement, and any Priority Lien Secured Party may intervene and interpose such defense or plea in its or their name or in the name of such Grantor. 

(b)    Prior to the Discharge of Priority Lien Obligations, should any Second Lien Secured Party contrary to this
Agreement, in any way take, attempt to or threaten to take any action with respect to the Collateral (including any attempt to realize upon or enforce any remedy with respect to this Agreement), or take any other action in violation of this
Agreement or fail to take any action required by this Agreement, the Priority Lien Agent or any other Priority Lien Secured Party (in its own name or in the name of the relevant Grantor) or the relevant Grantor, with the prior written consent of the
Priority Lien Agent, may obtain relief against such Second Lien Secured Party by injunction, specific performance and/or other appropriate equitable relief, it being understood and agreed by the Second Lien Agent on behalf of each Second Lien
Secured Party that (I) the Priority Lien Secured Parties’ damages from its actions may at that time be difficult to ascertain and may be irreparable, and (II) each Second Lien Secured Party waives any defense that the Grantors and/or
the Priority Lien Secured Parties cannot demonstrate damage and/or be made whole by the awarding of damages. 

SECTION 9.04    Parties in Interest. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns, as well as the other Secured Parties, all of whom are intended to be bound by, and to be third party beneficiaries of, this Agreement. 

SECTION 9.05    Survival of Agreement. All covenants, agreements, representations and warranties made by any
party in this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement. 

SECTION 9.06    Counterparts. This Agreement may be executed in counterparts, each of which shall constitute
an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this
Agreement. 
 SECTION 9.07    Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the
invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid,
illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 9.08    Governing Law; Jurisdiction; Consent to Service of Process. (a) THIS AGREEMENT SHALL BE
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATION LAW). 

(b)    Each party hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of
or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in
such New York State court or, to the extent permitted by law, in such federal court. Each 

  
 32 

 
of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law. Nothing in this Agreement shall affect any right that any party hereto may otherwise have to bring any action or proceeding relating to this Agreement in the courts of any jurisdiction. 

(c)    Each party hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and
effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (b) of this
Section 9.08. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d)    Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in
Section 9.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 9.09    WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 9.10    Headings.
Article, Section and Annex headings used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 9.11    Conflicts. In the event of any conflict or inconsistency between the provisions of this
Agreement and the provisions of any Secured Debt Documents, the provisions of this Agreement shall control. 

SECTION 9.12    Provisions Solely to Define Relative Rights. The provisions of this Agreement are and are
intended solely for the purpose of defining the distinct and separate relative rights of the Priority Lien Secured Parties and the Second Lien Secured Parties. None of the Company, any other Grantor or any other creditor thereof shall have any
rights or obligations hereunder, except as expressly provided in this Agreement (provided that nothing in this Agreement is intended to or will amend, waive or otherwise modify the provisions of the Priority Credit Agreement or the Second
Lien Indenture, as applicable), and except as expressly provided in this Agreement neither the Company nor any other Grantor may rely on the terms hereof (other than Sections 4.01, 4.02, 4.04, or 4.05,
Article VII and Article IX). Nothing in this Agreement is intended to or shall impair the obligations of the Company or any other Grantor, which are absolute and unconditional, to pay the
Obligations under the Secured Debt Documents as and when the same shall become due and payable in accordance with their terms. Notwithstanding anything to the contrary herein, the Grantors shall not be required to act or refrain from acting pursuant
to this Agreement with respect to any Collateral in any manner that would cause a default under any Priority Lien Document. 

  
 33 

 SECTION 9.13    Certain Terms Concerning the Second Lien Agent.
The Second Lien Agent is executing and delivering this Agreement solely in its capacity as such and pursuant to direction set forth in the Second Lien Indenture; and in so doing, the Second Lien Agent shall not be responsible for the terms or
sufficiency of this Agreement for any purpose. The Second Lien Agent shall have no duties or obligations under or pursuant to this Agreement other than such duties and obligations as may be expressly set forth in this Agreement as duties and
obligations on its part to be performed or observed. Notwithstanding anything to the contrary contained in this Agreement, for purposes of clarity and avoidance of doubt, the Second Lien Agent shall have no duties or obligations with respect
to covenants and agreements made by or on behalf of any other Second Lien Secured Party in this Agreement. In entering into this Agreement, or in taking (or forbearing from) any action under or pursuant to the Agreement, the
Second Lien Agent shall have and be protected by all of the rights, immunities, indemnities and other protections granted to it under the Second Lien Indenture and the other Second Lien Documents (including, without limitation,
Article 12 and Section 10.12 of the Second Lien Indenture). 

SECTION 9.14    Certain Terms Concerning the Priority Lien Agent and the Second Lien Agent.
Notwithstanding anything to the contrary contained in this Agreement, none of the Priority Lien Agent or the Second Lien Agent shall have any liability or responsibility for the actions or omissions of any other Secured Party, or for any other
Secured Party’s compliance with (or failure to comply with) the terms, covenants and agreements set forth in this Agreement. Neither the Priority Lien Agent nor the Second Lien Agent shall have individual liability to any Person if it shall
mistakenly pay over or distribute to any Secured Party (or the Company or any other Grantor) any amounts in violation of the terms of this Agreement, so long as the Priority Lien Agent or the Second Lien Agent, as the case may be, is acting in good
faith. Each party hereto hereby acknowledges and agrees that each of the Priority Lien Agent and the Second Lien Agent is entering into this Agreement solely in its capacity under the Priority Lien Documents and the Second Lien Documents,
respectively, and not in its individual capacity. The Priority Lien Agent shall not be deemed to owe any fiduciary duty to the Second Lien Agent or any other Second Lien Secured Party. The Second Lien Agent shall not be deemed to owe any fiduciary
duty to the Priority Lien Agent or any other Priority Lien Secured Party. The Second Lien Agent shall not at any time be deemed or imputed to have any knowledge of or receipt of any notices, information, correspondence or materials in the possession
of or given to the Priority Lien Agent, in its capacity as Priority Lien Agent. The Priority Lien Agent shall not at any time be deemed or imputed to have any knowledge of or receipt of any notices, information, correspondence or materials in the
possession of or given to the Second Lien Agent, in its capacity as Second Lien Agent or as a trustee or collateral trustee under the Second Lien Indenture. 

SECTION 9.15    Authorization of Secured Agents. By accepting the benefits of this Agreement and the other
Priority Lien Security Documents, each Priority Lien Secured Party authorizes the Priority Lien Agent to enter into this Agreement and to act on its behalf as collateral agent hereunder and in connection herewith. By accepting the benefits of this
Agreement and the other Second Lien Security Documents, each Second Lien Secured Party authorizes the Second Lien Agent to enter into this Agreement and to act on its behalf as collateral agent hereunder and in connection herewith. 

SECTION 9.16    Further Assurances. Each of the Priority Lien Agent, for itself and on behalf of the other
Priority Lien Secured Party, the Second Lien Agent, for itself and on behalf of the other Second Lien Secured Parties, and each Grantor party hereto, for itself and on behalf of its subsidiaries, agrees that it will execute, or will cause to be
executed, any and all further documents, agreements and instruments, and take all such further actions, as may be required under any applicable law, or which the Priority Lien Agent or the Second Lien Agent may reasonably request, to effectuate the
terms of this Agreement, including the relative Lien priorities provided for herein. 

  
 34 

 SECTION 9.17    Relationship of Secured Parties. Nothing set
forth herein shall create or evidence a joint venture, partnership or an agency or fiduciary relationship among the Secured Parties. None of the Secured Parties nor any of their respective directors, officers, agents or employees shall be
responsible to any other Secured Party or to any other Person for any Grantor’s solvency, financial condition or ability to repay the Priority Lien Obligations or the Second Lien Obligations, or for statements of any Grantor, oral or written,
or for the validity, sufficiency or enforceability of the Priority Lien Documents or the Second Lien Documents, or any security interests granted by any Grantor to any Secured Party in connection therewith. Each Secured Party has entered into its
respective financing agreements with the Grantors based upon its own independent investigation, and neither the Priority Lien Agent nor the Second Lien Agent makes any warranty or representation to the other Secured Debt Representatives or the
Secured Parties for which it acts as agent nor does it rely upon any representation of the other agents or the Secured Parties for which it acts as agent with respect to matters identified or referred to in this Agreement. 

SECTION 9.18    Reciprocal Rights (Excess Priority Lien Obligations). The parties agree that the
provisions of Articles III, IV and V and Sections 7.02(d) and 9.03, including, as applicable, the defined terms referenced therein (but only to the extent used therein), which govern the relationship, and certain
rights, restrictions, and agreements, between the Priority Lien Agent and the other Priority Lien Secured Parties with respect to the Priority Lien Debt, on the one hand, and the Second Lien Agent and the other Second Lien Secured Parties with
respect to the Second Lien Debt, on the other hand, shall, from and after the Discharge of Priority Lien Obligations and until the Discharge of Second Lien Obligations, apply to and govern, mutatis mutandis, the relationship between the
Second Lien Agent and the other Second Lien Secured Parties with respect to the Second Lien Debt, on the one hand (which, for purposes of this Section 9.18 shall be treated for all purposes as the Priority Lien Debt as
referenced in such aforementioned provisions), and the Priority Lien Agent and the other Priority Lien Secured Parties with respect to the Excess Priority Lien Obligations (which, for purposes of this Section 9.18 shall be treated for
all purposes as the Second Lien Debt as referenced in such aforementioned provisions), on the other hand. 
 [SIGNATURES BEGIN NEXT PAGE]

  
 35 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written. 
  

			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Priority Lien Agent

		
	By:	 	 /s/ Jennifer Anderson

	Name:	 	Jennifer Anderson
	Title:	 	Assistant Vice President

  
 Signature page 

Intercreditor Agreement 

 
			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Second Lien Agent

		
	By:	 	 /s/ Timothy P. Mowdy

	Name:	 	Timothy P. Mowdy
	Title:	 	Administrative Vice President

  
 Signature page 

Intercreditor Agreement 

 
			
	ACKNOWLEDGED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN:
	
	GRANTORS:
	
	GASTAR EXPLORATION INC.
		
	By:	 	 /s/ J. Russell Porter

	Name:	 	J. Russell Porter
	Title:	 	President and Chief Executive Officer

  
 Signature page 

Intercreditor Agreement 

 
			
	NORTHWEST PROPERTY VENTURES LLC
		
	By:	 	 /s/ J. Russell Porter

	Name:	 	J. Russell Porter
	Title:	 	President and Chief Executive Officer

  
 Signature page 

Intercreditor Agreement 

 ANNEX I 

Provision for all Priority Lien Security Documents and Second Lien Security Documents that Grant a Security Interest in Collateral 

Reference is made to the Intercreditor Agreement, dated as of March 3, 2017, between Wilmington Trust, National Association, as Priority Lien Agent
(as defined therein), and Wilmington Trust, National Association, as Second Lien Agent (as defined therein) (the “Intercreditor Agreement”). Each Person that is secured hereunder, by accepting the benefits of the security provided
hereby, [(i) consents (or is deemed to consent), to the subordination of Liens provided for in the Intercreditor Agreement,]1 [(i)][(ii)] agrees (or is deemed to agree) that it will be
bound by, and will take no actions contrary to, the provisions of the Intercreditor Agreement, [(ii)][(iii)] authorizes (or is deemed to authorize) the [Priority Lien Agent] [Second Lien Agent] on behalf of such Person to enter into, and
perform under, the Intercreditor Agreement and [(iii)][(iv)] acknowledges (or is deemed to acknowledge) that a copy of the Intercreditor Agreement was delivered, or made available, to such Person. 

Notwithstanding any other provision contained herein, this Agreement, the Liens created hereby and the rights, remedies, duties and obligations provided
for herein are subject in all respects to the provisions of the Intercreditor Agreement and, to the extent provided therein, the applicable Security Documents (as defined in the Intercreditor Agreement). In the event of any conflict or inconsistency
between the provisions of this Agreement and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall control. 
  

 

	1 	This bracketed language would not apply to the Priority Lien Security Documents. 

  
 Annex I - 1 

 EXHIBIT A 

to Intercreditor Agreement 

[FORM OF] 
 PRIORITY
CONFIRMATION JOINDER 
 Reference is made to the Intercreditor Agreement, dated as of March 3, 2017 (as amended, supplemented,
amended and restated or otherwise modified and in effect from time to time, the “Intercreditor Agreement”) between WILMINGTON TRUST, NATIONAL ASSOCIATION, as Priority Lien Agent for the Priority Lien Secured Parties (as
defined therein), and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Second Lien Agent for the Second Lien Secured Parties (as defined therein). 

Capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Intercreditor Agreement. This Priority
Confirmation Joinder is being executed and delivered pursuant to Section 4.04(a) of the Intercreditor Agreement as a condition precedent to the debt being entitled to the rights and obligations of Priority Lien Obligations
under the Intercreditor Agreement, and for which the undersigned is acting representative. 
 1. Joinder. The undersigned,
[                    ], a [                    ],
(the “New Representative”) as [trustee] [collateral agent] [administrative agent] [collateral agent] under that certain [describe applicable indenture, credit agreement or other document governing the Priority Lien
Obligations] hereby: 
 (a)    represents that the New Representative has been authorized to become a party to the
Intercreditor Agreement on behalf of the Priority Lien Secured Parties under a Priority Refinancing Credit Facility for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Intercreditor Agreement as fully as if
the undersigned had executed and delivered the Intercreditor Agreement as of the date thereof; and 
 (b)    agrees that
its address for receiving notices pursuant to the Intercreditor Agreement shall be as follows: 
 [Address] 

2.    Priority Confirmation. The undersigned New Representative, on behalf of itself and each Priority Lien Secured
Party for which the undersigned is acting as [Administrative Agent] hereby agrees, for the benefit of all Secured Parties and each future Secured Debt Representative, and as a condition to being treated as Priority Lien Obligations under the
Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Priority Liens. 

3.    Full Force and Effect of Intercreditor Agreement. Except as expressly supplemented hereby, the Intercreditor
Agreement shall remain in full force and effect. 
 4.    Governing Law and Miscellaneous Provisions. The
provisions of Article IX of the Intercreditor Agreement will apply with like effect to this Priority Confirmation Joinder. 

5.    Expenses. The Company agrees to reimburse each Secured Debt Representative for its reasonable out of pocket
expenses in connection with this Priority Confirmation Joinder, including the reasonable fees, other charges and disbursements of counsel. 

  
 Exhibit A - 1 

 IN WITNESS WHEREOF, the parties hereto have caused this Priority Confirmation Joinder to be
executed by their respective officers or representatives as of [            , 20    ]. 

 

			
	[insert name of New Representative]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	The Second Lien Agent hereby acknowledges receipt of this Priority Confirmation Joinder:
	
	  

	as Second Lien Agent
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Acknowledged and Agreed to by:
	
	GASTAR EXPLORATION, INC., as the Company
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Exhibit A - 2 

 EXHIBIT B 

to Intercreditor Agreement 
 Part A

 Third Amended and Restated Pledge and Security Agreement, dated as of March 3, 2017, by and among Gastar Exploration Inc., certain of its
subsidiaries party thereto and Wilmington Trust, National Association, as collateral agent. 
 Amended and Restated First Lien Mortgage, Security Agreement,
Fixture Filing, Financing Statement and Assignment of Production, dated as of March 3, 2017, executed and delivered by Gastar Exploration Inc., as mortgagor, to Wilmington Trust, National Association, as mortgagee. 

Amended and Restated First Lien Wellbore Mortgage, Security Agreement, Fixture Filing, Financing Statement and Assignment of Production, dated as of
March 3, 2017, executed and delivered by Gastar Exploration Inc., as mortgagor, to Wilmington Trust, National Association, as mortgagee. 
 Master
Reaffirmation and Assignment and Assumption of Liens and Security Interests, dated as of March 3, 2017, by and among Gastar Exploration Inc., Wells Fargo Bank National Association, as resigning agent, Wilmington Trust, National Association, as
successor administrative agent, and Ares Management, LLC. 
 Assignment and Assumption of Deposit Account and Sweep Investment Control Agreement, dated as
of March 3, 2017, by and among Wells Fargo Bank, National Association, as resigning first lien agent, Wilmington Trust, National Association, as resigning second lien trustee and collateral agent, Wilmington Trust, National Association, as
successor first lien agent and successor second lien agent. 
 Assignment and Assumption of Securities Account Control Agreement, dated as of March 3,
2017, by and among Wells Fargo Bank, National Association, as resigning first lien agent, Wilmington Trust, National Association, as resigning second lien trustee and collateral agent, Wilmington Trust, National Association, as successor first lien
agent and successor second lien trustee and collateral agent. 
 Part B 

Pledge and Security Agreement, dated as of March 3, 2017, by and among Gastar Exploration Inc., certain of its subsidiaries party thereto and Wilmington
Trust, National Association, as collateral trustee. 
 Second Lien Mortgage, Security Agreement, Fixture Filing, Financing Statement and Assignment of
Production, dated as of March 3, 2017, executed and delivered by Gastar Exploration Inc., as mortgagor, to Wilmington Trust, National Association, as mortgagee. 

  
 Exhibit B - 1 

 Second Lien Wellbore Mortgage, Security Agreement, Fixture Filing, Financing Statement and Assignment of
Production, dated as of March 3, 2017, executed and delivered by Gastar Exploration Inc., as mortgagor, to Wilmington Trust, National Association, as mortgagee. 

Assignment and Assumption of Deposit Account and Sweep Investment Control Agreement, dated as of March 3, 2017, by and among Wells Fargo Bank, National
Association, as resigning first lien agent, Wilmington Trust, National Association, as resigning second lien trustee and collateral agent, Wilmington Trust, National Association, as successor first lien agent and successor second lien agent. 

Assignment and Assumption of Securities Account Control Agreement, dated as of March 3, 2017, by and among Wells Fargo Bank, National Association, as
resigning first lien agent, Wilmington Trust, National Association, as resigning second lien trustee and collateral agent, Wilmington Trust, National Association, as successor first lien agent and successor second lien trustee and collateral agent.

  
 Exhibit B - 2

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