Document:

Exhibit 4.1

   

  EXECUTION VERSION

   

  SECOND AMENDED AND RESTATED 

  REGISTRATION RIGHTS AGREEMENT

    

   

  BY AND AMONG

    

   

  RILEY EXPLORATION – PERMIAN, LLC

    

  

      AND

   

  THE OTHER PARTIES HERETO

   

  
     

    
      
 

  

   

  SECOND AMENDED AND RESTATED REGISTRATION RIGHTS
        AGREEMENT

   

  This SECOND AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”)

      is made and entered into as of October 7, 2020, by and among Riley Exploration – Permian, LLC, a Delaware limited liability company (the “Company”), and the other parties hereto identified on the signature page of this Agreement (the “Members”).

   

  RECITALS

   

  WHEREAS, the Company and the Members entered into that certain
      Registration Rights Agreement, dated as of March 6, 2017 (the “Original Registration Rights Agreement”), contemporaneously with the closing of the issuance and sale of the Series A Preferred Units (as defined below) pursuant to the
      Preferred Unit Purchase Agreement dated as of March 6, 2017, by and among the Company and the purchasers of the Series A Preferred Units (the “March 2017 Purchase Agreement”); and

   

  WHEREAS, the parties entered into an Amended and Restated Registration
      Rights Agreement dated as of September 7, 2017 (the “Amended Registration Rights Agreement”) in connection with the closing of the issuance and sale of Series A Preferred Units pursuant to the Unit Purchase Agreement dated as of
      September 7, 2017, by and among the Company, the purchasers of the Series A Preferred Units, and certain other purchasers of Common Units (together with the March 2017 Purchase Agreement, the “Purchase Agreements”); and

   

  WHEREAS, the Company agreed to provide the registration and other rights
      set forth in this Agreement for the benefit of all of the Members in conjunction with the issuance of Series A Preferred Units pursuant to the Purchase Agreements; and

   

  WHEREAS, the Company and the Members desire to amend and restate the
      Amended Registration Rights Agreement in connection with the Company’s proposed Listing Transaction (as defined below).

   

  NOW, THEREFORE, in consideration of the mutual covenants and agreements
      set forth herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each party hereto, the parties hereby amend and restate the Original Registration Rights Agreement in its entirety to read as
      follows:

   

  Article I

      DEFINITIONS

   

  Section 1.1             Definitions. Capitalized terms used herein without definition shall have the meanings given to them below:

   

  “Affiliate” means, with respect to any specified Person,
      an “affiliate,” as defined in Rule 144 under the Securities Act (or any successor rule or regulation to Rule 144 then in force) of such Person.

   

  “Agreement” has the meaning specified therefor in the
      introductory paragraph.

   

  
     

    
      
 

  

  
   

  “Automatic Shelf Registration Statement” means a
      registration statement that shall become effective upon filing with the SEC pursuant to Rule 462(e) (or any successor or similar provision adopted by the SEC then in effect) under the Securities Act.

   

  “Board” means the Board of Directors of the Company (or
      functional equivalent).

   

  “Common Units” means the Units of Membership Interest (or
      equivalent, howsoever named or denominated) of the Company, and any class or classes of stock or other securities resulting from any reclassification or reclassifications thereof and which have no preference in respect of dividends or of amounts
      payable in the event of any liquidation, dissolution or winding up of the Company.

   

  “Company” has the meaning specified therefor in the
      introductory paragraph of this Agreement and includes any successor or assign thereto (by merger, consolidation, conversion to a corporation, or otherwise), including any Person that acquires all or substantially all of the assets or Membership
      Interest of the Company (including by reason of merger).

   

  “Demand Maximum Offering Size” has the meaning specified
      therefor in Section 2.1(d)(iv) of this Agreement.

   

  “Effective Date” has the meaning specified therefor in Section

        2.1(a) of this Agreement.

   

  “Effectiveness Deadline” has the meaning specified
      therefor in Section 2.1(a) of this Agreement.

   

  “Effectiveness Period” has the meaning specified therefor
      in Section 2.1(a) of this Agreement.

   

  “Exchange” means the NYSE American, New York Stock
      Exchange, the NASDAQ Stock Market or such exchange on which Registrable Securities are listed and traded at the applicable time.

   

  “Exchange Act” means the Securities Exchange Act of 1934,
      as amended, or any successor statute, and the rules and regulations of the SEC promulgated thereunder.

   

  “FINRA” means the Financial Industry Regulatory Authority,
      Inc.

   

  “Holder” means each Member and its Affiliates, when such
      Person is a holder or owner of any Registrable Securities, and any other holder of Registrable Securities transferred or assigned by a Member to such holder in accordance with Section 2.8 of this Agreement.

   

  “Holder Underwriter Registration Statement” has the
      meaning specified therefor in Section 2.3(p) of this Agreement.

   

  “Included Registrable Securities” has the meaning
      specified therefor in Section 2.2(a) of this Agreement.

   

  
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  “Initial Public Offering” means the initial registered
      offering of Company securities pursuant to a registration statement under the Securities Act, or a registration of Company securities under the Exchange Act, or a transaction giving rise to a listing of Company securities on an exchange or market in
      the United States, directly or indirectly, and includes an amalgamation, merger, securities exchange take-over bid or other transaction having a similar result.

   

  “Launch Date” has the meaning specified therefor in Section

        2.2(b) of this Agreement.

   

  “Listed Shares” has the meaning set forth in the LLC
      Agreement, and shall also include any shares of the issuer of the Listed Shares of the same class and series as the Listed Shares that are issued following an Initial Public Offering or Listing Transaction.

   

  “Listing Transaction” means any transaction or series of
      transactions that result in (i) the listing of the Company’s securities on a national securities exchange or (ii) the Members receiving in exchange for their Membership Interest, securities listed on a national securities exchange.

   

  “LLC Agreement” means that certain Fourth Amended and
      Restated Limited Liability Company Agreement of the Company dated August 13, 2020, as amended by that certain Amendment No. 1 dated October 7, 2020 and as may be further amended from time to time in accordance with its terms.

   

  “Lock-Up Agreements” means the Lock-Up Agreements that
      will be delivered in connection with an Initial Public Offering between each of the Members and the Managing Underwriter as Representatives of the Several Underwriters.

   

  “Lock-Up Period” has the meaning specified therefore in
      the Lock-Up Agreements.

   

  “Losses” has the meaning specified therefor in Section
        2.6(a) of this Agreement.

   

  “Managing Underwriter” means, with respect to any
      Underwritten Offering or Overnight Underwritten Offering, the book running lead manager of such Underwritten Offering or Overnight Underwritten Offering.

   

  “March 2017 Purchase Agreement” has the meaning specified
      therefor in the recitals of this Agreement.

   

  “Member” has the meaning specified therefor in the
      introductory paragraph.

   

  “Membership Interest” has the meaning set forth in the LLC
      Agreement.

   

  “Opt-Out Notice” has the meaning specified therefor in Section

        2.2(a) of this Agreement.

   

  “Original Registration Rights Agreement” has the meaning
      specified therefor in the recitals of this Agreement.

   

  “Overnight Underwritten Offering” has the meaning
      specified therefor in Section 2.2(b) of this Agreement.

   

  
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  “Parity Holders” has the meaning specified therefor in Section

        2.2(c) of this Agreement.

   

  “Permitted Transferee” means, as to any Person, (i) any
      general partner or managing member of such Person, (ii) any partnership, limited partnership, limited liability company, corporation or other entity organized, formed or incorporated and managed or controlled by such Person, its general partner or
      managing member as a vehicle for purposes of making investments, or (iii) any member, limited partner or other equity holder of a Member, its Affiliates or any Permitted Transferee under clause (i) or (ii) above.

   

  “Person” means an individual or a corporation, firm,
      limited liability company, partnership, joint venture, trust, unincorporated organization, association, governmental authority or other entity.

   

  “Piggyback Notice” has the meaning specified therefor in Section

        2.2(a) of this Agreement.

   

  “Piggyback Offering” has the meaning specified therefor in
      Section 2.2(a) of this Agreement.

   

  “Pricing Date” has the meaning specified therefor in Section

        2.2(b) of this Agreement.

   

  “Purchase Agreements” has the meaning specified therefor
      in the recitals of this Agreement.

   

  “Registrable Securities” means the Securities, whether or
      not issued, and any shares or other securities issued in respect of such Registrable Securities because of or in connection with any stock or unit dividend, stock or unit distribution, stock or unit split, purchase in any rights offering or in
      connection with any exchange for or replacement of such Registrable Securities or any combination of shares or units, recapitalization, merger, consolidation or conversion to another type of entity or similar transaction, or any other equity
      securities issued pursuant to any other pro rata distribution with respect to the Listed Shares or other Registrable Securities, until such time as such securities cease to be Registrable Securities pursuant to Section 1.2 hereof.

   

  “Registration Expenses” has the meaning specified therefor
      in Section 2.5(a) of this Agreement.

   

  “SEC” means the U.S. Securities and Exchange Commission
      (or any successor agency).

   

  “Securities” means the Listed Shares issuable upon
      conversion or exchange (including Listed Shares issuable as merger consideration in connection with a Listing Transaction) of the Series A Preferred Units or Common Units held by the Members on the date hereof (including Common Units issuable to the
      Members upon the date hereof in connection with any conversion of Series A Preferred Units), and any other units or other securities issued in respect of such Securities because of or in connection with any stock or unit dividend, stock or unit
      distribution, stock or unit split, purchase in any rights offering or in connection with any exchange for or replacement of such Securities or any combination of shares or units, recapitalization, merger, consolidation or conversion to another type
      of entity or similar transaction, or any other equity securities issued pursuant to any other pro rata distribution with respect to the Listed Shares.

   

  
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  “Securities Act” means the Securities Act of 1933, as
      amended, or any successor statute, and the rules and regulations of the SEC promulgated thereunder.

   

  “Selling Expenses” means all underwriting discounts and
      selling commissions or similar fees or arrangements allocable to the sale of the Registrable Securities, and fees and disbursements of counsel to the Selling Holders, other than those fees and disbursements of counsel required to be paid by the
      Company pursuant to Section 2.5(a) of this Agreement.

   

  “Selling Holder” means a Holder who is selling Registrable
      Securities pursuant to a registration statement.

   

  “Selling Holder Indemnified Person” has the meaning
      specified thereof in Section 2.6(a).

   

  “Series A Preferred Units” means the Series A Preferred
      Units of the Company as defined in that certain LLC Agreement, any units or other securities issued in respect of such Series A Preferred Units because of or in connection with any stock or unit dividend, stock or unit distribution, stock or unit
      split, purchase in any rights offering or in connection with any exchange for or replacement of such Series A Preferred Units or any combination of shares or units, recapitalization, merger, consolidation or conversion to a corporation or similar
      transaction, or any other equity securities issued pursuant to any other pro rata distribution with respect to the Series A Preferred Units.

   

  “Shelf Registration Statement” has the meaning specified
      therefor in Section 2.1(a) and (c) of this Agreement.

   

  “Subsequent Shelf Registration Statement” has the meaning
      specified therefor in Section 2.1(c) of this Agreement.

   

  “Underwritten Offering” means an offering (including an
      offering pursuant to a Shelf Registration Statement) in which Listed Shares (or securities convertible into or exercisable or exchangeable for Listed Shares) are sold to an underwriter on a firm commitment basis for reoffering to the public or an
      offering that is a “bought deal” or a “broker-facilitated” transaction with one or more investment banks. As used in this Agreement, a “broker-facilitated transaction” is a transaction in which the broker requests an opinion of counsel, comfort
      letter and/or due diligence information because of such broker’s internal policies and procedures related to such transaction and such broker having potential liability as an “underwriter” under Section 2(a)(11) of the Securities Act.

   

  “Underwritten Offering Filing” has the meaning specified
      therefor in Section 2.2(a) of this Agreement.

   

  “Underwritten Shelf Take-Down” has the meaning specified
      therefor in Section 2.1(d)(i) of this Agreement.

   

  
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  Section 1.2              Registrable Securities.

   

  (a)            Any Registrable Security will cease to be a Registrable Security when (i) a registration statement covering such Registrable Security becomes or has been declared effective by the SEC and such Registrable
      Security has been sold or disposed of pursuant to such effective registration statement; (ii) such Registrable Security has been sold or disposed of pursuant to any section of Rule 144 (or any successor rule or regulation to Rule 144 then in force)
      under the Securities Act under circumstances in which all of the applicable conditions of such Rule (then in effect) are met; (iii) such Registrable Security has been sold or disposed of in a private transaction in which the transferor’s rights under
      this Agreement are not assigned to the transferee of such Registrable Security pursuant to Section 2.8 hereof or (iv) such Registrable Security is held by the Company or one of its subsidiaries. In addition, any Registrable Security will
      cease to be a Registrable Security on the fourth anniversary of the date the Initial Public Offering or Listing Transaction is consummated.

   

  (b)            Any determination, consent, approval, transfer, or other right hereunder with respect to a Holder of Registrable Securities shall be determined on an as-converted (or exchanged) to Listed Shares basis, regardless
      of whether such Registrable Securities are then issued or outstanding (or then convertible or exchangeable); provided, however, that if such number is not determinable at the relevant time because the Conversion or the Initial Public
      Offering or Listing Transaction has not occurred, such determination, consent, approval, transfer or other right shall be determined based on the number of shares of Common Units and Series A Preferred Units held by such Holders.

   

  (c)            A Holder is deemed to be a holder of Registrable Securities whenever such Person owns Registrable Securities or holds an option, warrant or right to purchase, or a security convertible into or exchangeable for,
      Registrable Securities, whether or not such acquisition, conversion or exchange has actually been effected.

   

  Article II

      REGISTRATION RIGHTS

   

  Section 2.1              Shelf Registration; Underwritten Shelf Take-Down.

   

  (a)            Shelf Registration. The Company shall (i) prepare and file no later than 60 days following (A) the expiration of a Lock-Up Period in the case of an Initial Public Offering or (B) closing of a Listing
      Transaction, a registration statement under the Securities Act to permit the public resale of all of the Registrable Securities from time to time (regardless of whether such Registrable Securities are outstanding at the time of filing or
      effectiveness of such registration statement), including as permitted by Rule 415 under the Securities Act (or any similar provision then in force) with respect to all of the Registrable Securities (the “Shelf Registration Statement”)
      and (ii) cause the Shelf Registration Statement to become effective as soon as reasonably practicable thereafter (the “Effectiveness Deadline,” and, such date that the Shelf Registration Statement is declared or becomes effective, the “Effective

          Date”). The Shelf Registration Statement filed pursuant to this Section 2.1(a) shall be on Form S-1 or such other form of registration statement as is then available to effect a registration for resale of the Registrable
      Securities, covering all of the Registrable Securities, which shall contain a prospectus in such form as to permit any Holder to sell its Registrable Securities pursuant to Rule 415 (or any successor or similar rule adopted by the SEC then in effect)
      under the Securities Act at any time beginning on the Effective Date. Subject to Section 2.1(b), the Company will cause the Shelf Registration Statement filed pursuant to this Section 2.1(a) to be continuously effective under the
      Securities Act from and after the date it is first declared or becomes effective until all Registrable Securities covered by the Shelf Registration Statement have been distributed in the manner set forth and as contemplated in the Shelf Registration
      Statement or there are no longer any Registrable Securities outstanding (the “Effectiveness Period”). The Shelf Registration Statement when declared effective shall comply as to form with all applicable requirements of the Securities
      Act and the Exchange Act and shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, in light of the circumstances then
      existing (in the case of a prospectus or supplement thereto). As soon as practicable following the Effective Date, but in any event within five Business Days of such date, the Company will notify the Selling Holders of the effectiveness of such Shelf
      Registration Statement. If the Company has an effective Shelf Registration Statement on Form S-1 under the Securities Act and becomes eligible to use Form S-3 or such other short-form registration statement form under the Securities Act (including an
      Automatic Shelf Registration Statement), the Company shall promptly give notice of such eligibility to the Selling Holders covered thereby and shall, at the request of such Selling Holders with a majority of such Registrable Securities included in
      such Shelf Registration Statement, promptly convert such Shelf Registration Statement on Form S-1 to a registration statement on Form S-3 or such other short-form registration statement by means of a post-effective amendment or otherwise. No other
      securities of the Company may be included on the Shelf Registration Statement or otherwise participate in any concurrent or subsequent Underwritten Offering or Overnight Underwritten Offering of Registrable Securities utilizing the Shelf Registration
      Statement without the prior written consent of Holders holding a majority of Registrable Securities.

   

  
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  (b)            Delay Rights. Notwithstanding anything to the contrary contained herein, the Company may, upon written notice to each Selling Holder whose Registrable Securities are included in the Shelf Registration
      Statement (provided that in no event shall such notice contain any material, non-public information regarding the Company or any of its subsidiaries) suspend such Selling Holder’s use of any prospectus which is a part of the Shelf Registration
      Statement (in which event the Selling Holder shall discontinue sales of the Registrable Securities pursuant to such registration statement but such Selling Holder may settle any contracted sales of Registrable Securities) if (i) the Company is
      pursuing a bona fide material acquisition, merger, reorganization, disposition or other similar transaction and the Board determines in good faith that the Company’s ability to pursue or consummate such a transaction would be materially and
      adversely affected by any required disclosure of such transaction in the Shelf Registration Statement (and such disclosure is then-required therein by applicable law, rule or regulation to permit offers and sales thereunder), (ii) the Company has
      experienced some other material non-public event the disclosure of which in the Shelf Registration Statement at such time, in the good faith judgment of the Board, would materially and adversely affect the Company (and such disclosure therein is
      then-required by applicable law, rule or regulation to permit offers and sales thereunder), or (iii) until the Company is eligible to incorporate such information by reference, the Board shall have determined in good faith, upon the advice of
      counsel, that it is required by law, rule or regulation to file a post-effective amendment to such registration statement in order to incorporate information into the registration statement for the purpose of (1) including in such registration
      statement any prospectus required under Section 10(a)(3) of the Securities Act, (2) reflecting in the prospectus included in such registration statement any facts or events arising after the effective date of such registration statement (or of the
      most-recent post-effective amendment) that, individually or in the aggregate, represents a fundamental change in the information set forth therein, or (3) including in the prospectus included in such registration statement any material information
      with respect to the plan of distribution not disclosed in the Registration Statement or any material change to such information; provided, however, in no event shall such Selling Holders be suspended under clauses (i), (ii)
      or (iii) of this Section 2.1(b) from selling Registrable Securities pursuant to such registration statement for a period that exceeds an aggregate of 45 days in any 90-day period or 90 days in any 365-day period. Upon disclosure of
      such information or the termination of the condition described above, the Company shall provide prompt notice to the Selling Holders whose Registrable Securities are included in the Shelf Registration Statement and shall promptly terminate any
      suspension of sales it has put into effect and shall take such other actions to permit registered sales of Registrable Securities as contemplated in this Agreement.

   

  
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  (c)            Subsequent Shelf Registrations. If the Shelf Registration Statement filed under Section 2.1(a) or any Subsequent Shelf Registration Statement ceases to be effective for any reason at any time
      during the period described in Section 2.1(a) (other than under Section 2.1(b) or because of the sale of all of the securities registered thereunder), the Company shall use its commercially reasonable efforts to obtain the prompt
      withdrawal of any order suspending the effectiveness thereof, and in any event shall within 45 days of such cessation of effectiveness amend such Shelf Registration Statement in a manner designed to obtain the withdrawal of the order suspending the
      effectiveness thereof, or file an additional shelf registration statement pursuant to Rule 415 under the Securities Act (or any similar provision then in force) covering all of the Registrable Securities covered by and not sold under the Shelf
      Registration Statement (a “Subsequent Shelf Registration Statement”). If a Subsequent Shelf Registration Statement is filed, the Company shall use its commercially reasonable efforts to cause the Subsequent Shelf Registration Statement
      to be declared effective as soon as practicable after such filing and to keep such Subsequent Shelf Registration Statement continuously effective during the period described in Section 2.1(a). As used herein the term “Shelf Registration
          Statement” means the Shelf Registration Statement referenced in Section 2.1(a) and any Subsequent Shelf Registration Statements.

   

  (d)            Underwritten Shelf Take-Down

   

  (i)              Holders of greater than 15% of the then-currently Registrable Securities shall have the right to initiate an Underwritten Shelf Take-Down (as defined below) with the Company. The Company shall have no
      obligation to facilitate or participate in more than two (2) Underwritten Shelf Take-Downs per year pursuant to this Section 2.1(d). In connection with any proposed firmly underwritten resale of Registrable Securities initiated by any Holder
      eligible to do so pursuant to this Section 2.1(d), with respect to which the Shelf Registration Statement or a Subsequent Shelf Registration Statement is expressly being utilized to effect such resale (an “Underwritten Shelf Take-Down”),

      each Holder agrees, in an effort to conduct any such Underwritten Shelf Take-Down in the most efficient and organized manner, to notify all other Holders of such Underwritten Shelf Take-Down and coordinate with any other Holders prior to initiating
      any request of the Company pursuant to this Section 2.1(d) and cooperate with the other Holder(s) as to the aggregate amount of securities to be sold and the number of Registrable Securities to be sold by each Holder in the Underwritten Shelf
      Take-Down. In furtherance of the foregoing, the Company shall give prompt notice to any non-initiating Holder (if such Holder’s Registrable Securities are included in the Shelf Registration Statement or such Subsequent Shelf Registration Statement)
      of the receipt of a request from the initiating Holder (whose Registrable Securities are included in the Shelf Registration Statement or such Subsequent Shelf Registration Statement) of a proposed Underwritten Shelf Take-Down under and pursuant to
      the Shelf Registration Statement or such Subsequent Shelf Registration Statement and, notwithstanding anything to the contrary contained herein, will provide such non-initiating Holders a period of ten (10) Business Days to participate in such
      Underwritten Shelf Take-Down, subject to the terms negotiated by and applicable to the initiating Holder and subject to the limitations set forth in Section 2.1(d)(iv). All such Holders electing to be included in an Underwritten Shelf
      Take-Down must sell their Registrable Securities to the underwriters selected as provided in ‎Section 2.1(d)(v) on the same terms and conditions as apply to any other selling equity holders; provided, however, that no
      such Person shall be required to make any representations or warranties, or provide any indemnity, in connection with any such registration other than representations and warranties (or indemnities with respect thereto) as to (i) such Person’s
      ownership of his, her or its Registrable Securities to be transferred free and clear of all liens, claims, and encumbrances, (ii) such Person’s power and authority to effect such transfer, and (iii) such matters pertaining to compliance with
      securities laws by such Person as may be reasonably requested; provided, further, however, that the obligation of such Person to indemnify pursuant to any such underwriting arrangements shall be several, not joint and
      several, among such Persons selling Registrable Securities, and the liability of each such Person will be in proportion thereto, and provided, further, that such liability will be limited to the net proceeds received by such Person from the sale of
      his, her or its Registrable Securities pursuant to such registration.

   

  
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  (ii)             The Company shall be liable for and pay all Registration Expenses in connection with any Underwritten Shelf Take-Down; provided, that holders of Registrable Securities shall each pay their pro
      rata portion of all underwriting discounts, selling commissions, and stock transfer taxes applicable to the sale of Registrable Securities.

   

  (iii)            Notwithstanding anything to the contrary contained herein, the Company shall have no obligation to effect an Underwritten Shelf Take-Down pursuant to this Section 2.1(d) (and such request therefor
      shall not constitute an Underwritten Shelf Take-Down for any purpose under this Agreement) if the proposed Underwritten Shelf Take-Down would not reasonably be expected to result in aggregate gross cash proceeds to the participating Holders in excess
      of $10 million (before deducting expenses and underwriters’ discounts and commissions).

   

  (iv)            If an Underwritten Shelf Take-Down involves a public offering and the Managing Underwriter advises the Company and the participating Holders that, in its view, the number of Registrable Securities that the
      participating Holders and the Company propose to include in such Underwritten Shelf Take-Down exceeds the largest number of Registrable Securities that can be sold without having a material adverse effect on such offering, including the price at
      which such Registrable Securities can be sold (the “Demand Maximum Offering Size”), the Company shall include in such registration, in the priority listed below, up to the Demand Maximum Offering Size:

   

  (A)           first, all Registrable Securities requested to be registered by the Holders requesting Registrable Securities be included in such Underwritten Shelf Take-Down, allocated, if necessary for the offering not to exceed the
      Demand Offering Maximum size, pro rata among such Holders on the basis of the total number of Registrable Securities held by such Holders immediately prior to such Underwritten Shelf Take-Down;

   

  
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  (B)            second, all Listed Shares requested to be included in such Underwritten Shelf Take-Down by Persons other than Holders, allocated, if necessary for the offering not to exceed the Demand Maximum Offering Size, pro rata
      among such other Persons on the basis of the relative number of Listed Shares so requested to be included in such registration and offering by each such Person; and

   

  (C)            third, all securities proposed to be included in such registration and offering by the Company.

   

  (v)            In connection with the offering of Registrable Securities pursuant to an Underwritten Shelf Take-Down, the Company shall select the underwriter or underwriters, which must be reasonably acceptable to the
      initiating Holders. In connection with any public offering, the Company shall enter into customary agreements (including an underwriting agreement in customary form, provided that the scope of the indemnity contained in such underwriting agreement on
      the part of the selling Holder is not more extensive than the indemnity described in Section 2.6(b)), provided that such agreements are consistent with this Agreement, and take all such other actions as are reasonably required
      in order to expedite or facilitate the disposition of such Registrable Securities in any such public offering, to the extent required by FINRA rules, including the engagement of a “qualified independent underwriter” in connection with the
      qualification of the underwriting arrangements with FINRA. The Company shall make such representations and warranties to the holders of Registrable Securities being registered, and the underwriters or agents, if any, in form, substance and scope as
      are customarily made by issuers in secondary underwritten public offerings and take any other actions as the Managing Underwriter reasonably requests in order to expedite or facilitate the registration and disposition of such Registrable Securities.
      Each Holder participating in such underwriting shall also enter into such agreement, provided that the terms of any such agreement are consistent with this Agreement.

   

  
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  Section 2.2              Piggyback Rights.

   

  (a)             Participation. Except as provided in Section 2.2(b), if at any time during the Effectiveness Period after the Effectiveness Deadline, the Company proposes to file (i) a shelf registration
      statement (in which shelf registration statement the Company covenants and agrees to include thereon a description of the transaction under which the Holders acquired the Registrable Securities), other than the Shelf Registration Statement, (ii) a
      prospectus supplement to an effective shelf registration statement, other than the Shelf Registration Statement, and Holders could be included without the filing of a post-effective amendment thereto (other than a post-effective amendment that is
      immediately effective), or (iii) a registration statement, other than a shelf registration statement, in the case of each of clause (i), (ii) or (iii), for the sale of Listed Shares (or securities convertible into or
      exchangeable or exercisable for Listed Shares) in an Underwritten Offering or Overnight Underwritten Offering for its own account and/or another Person, then as soon as practicable but not less than 10 Business Days (or one Business Day in the case
      of an Overnight Underwritten Offering) prior to the filing of (A) any preliminary prospectus supplement relating to such Underwritten Offering pursuant to Rule 424(b) under the Securities Act, (B) the prospectus supplement relating to such
      Underwritten Offering pursuant to Rule 424(b) under the Securities Act (if no preliminary prospectus supplement is used) or (C) such registration statement (other than a Shelf Registration Statement), as the case may be (an “Underwritten
          Offering Filing”), then the Company shall give notice (including, but not limited to, notification by electronic mail) of such proposed Underwritten Offering (a “Piggyback Offering”) to the Holders and such notice shall
      offer the Holders the opportunity to include in such Underwritten Offering such number of the Registrable Securities (the “Included Registrable Securities”) as each such Holder may request in writing; provided, however,
      that if the Company has been advised by the Managing Underwriter, and the Company has advised the Selling Holders in writing, that the inclusion of Registrable Securities for sale for the benefit of the Selling Holders will have a material adverse
      effect on the price, timing or distribution of the Listed Shares (or securities convertible into or exercisable or exchangeable for Listed Shares) in the Underwritten Offering, then the amount of Registrable Securities to be offered for the accounts
      of Selling Holders shall be determined based on the provisions of Section 2.2(c) of this Agreement. The notice required to be provided in this Section 2.2(a) to each Holder (the “Piggyback Notice”) shall be provided on
      a Business Day pursuant to Section 3.1 hereof. Each Holder shall then have ten (10) Business Days (or one Business Day in the case of an Overnight Underwritten Offering) after the date on which the Holders received the Piggyback Notice to
      request inclusion of Registrable Securities in the Underwritten Offering. If no request for inclusion from a Holder is received within such period, such Holder shall have no further right to participate in such Underwritten Offering. If, at any time
      after giving written notice of its intention to undertake an Underwritten Offering and prior to the closing of such Underwritten Offering, the Board shall determine for any reason not to undertake or to delay such Underwritten Offering, the Company
      may, at its election, give written notice of such determination to the Selling Holders and, (x) in the case of a determination not to undertake such Underwritten Offering, shall be relieved of its obligation to sell any Included Registrable
      Securities in connection with such terminated Underwritten Offering, and (y) in the case of a determination to delay such Underwritten Offering, shall be permitted to delay offering any Included Registrable Securities for the same period as the delay
      in the Underwritten Offering. Any Selling Holder shall have the right to withdraw such Selling Holder’s request for inclusion of such Selling Holder’s Registrable Securities in such offering by giving written notice to the Company of such withdrawal
      up to and including the time of pricing of such offering. Notwithstanding the foregoing, any Holder may deliver written notice (an “Opt-Out Notice”) to the Company requesting that such Holder not receive notice from the Company of any
      proposed Underwritten Offering; provided, however, that such Holder may later revoke any such Opt-Out Notice in writing.

   

  
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  (b)            Overnight Underwritten Offering Piggyback Rights. If, at any time during any Effectiveness Period after the Effectiveness Deadline, the Company proposes to file an Underwritten Offering Filing and such
      Underwritten Offering is expected to be launched (the “Launch Date”) after the close of trading on one trading day and priced (the “Pricing Date”) before the open of trading on the next succeeding trading day (such
      execution format, an “Overnight Underwritten Offering”), then no later than one Business Day after the Company engages a Managing Underwriter for the proposed Overnight Underwritten Offering, the Company shall notify (including, but not
      limited to, notice by electronic mail) the Holders of the pendency of the Overnight Underwritten Offering and such notice shall offer the Holders the opportunity to include in such Overnight Underwritten Offering such number of Registrable Securities
      as each such Holder may request in writing within two Business Days after the Holder receives such notice. Notwithstanding the foregoing, if the Company has been advised by the Managing Underwriter that the inclusion of Registrable Securities in the
      Overnight Underwritten Offering for the accounts of the Selling Holders is likely to have a material adverse effect on the price, timing or distribution of the Listed Shares (or securities convertible into or exercisable or exchangeable for Listed
      Shares), then the amount of Registrable Securities to be included in the Overnight Underwritten Offering for the accounts of Selling Holders shall be determined based on the provisions of Section 2.2(c) this Agreement. If, at any time after
      giving written notice of its intention to execute an Overnight Underwritten Offering and prior to the closing of such Overnight Underwritten Offering, the Company determines for any reason not to undertake or to delay such Overnight Underwritten
      Offering, the Company shall give written notice of such determination to the Selling Holders and, (i) in the case of a determination not to undertake such Overnight Underwritten Offering, shall be relieved of its obligation to sell any Registrable
      Securities held by the Selling Holders in connection with such abandoned or delayed Overnight Underwritten Offering, and (ii) in the case of a determination to delay such Overnight Underwritten Offering, shall be permitted to delay offering any
      Registrable Securities held by the Selling Holders for the same period as the delay of the Overnight Underwritten Offering. Any Selling Holder shall have the right to withdraw such Selling Holder’s request for inclusion of such Selling Holder’s
      Registrable Securities in such Overnight Underwritten Offering by giving written notice to the Company of such withdrawal up to and including the time of pricing of such offering. Notwithstanding the foregoing, any Holder may deliver an Opt-Out
      Notice to the Company requesting that such Holder not receive notice from the Company of any proposed Overnight Underwritten Offering; provided, however, that such Holder may later revoke any such Opt-Out Notice in writing.

   

  (c)            Priority of Rights. In connection with an Underwritten Offering and Overnight Underwritten Offering contemplated by Section 2.2(a) and Section 2.2(b), respectively, if the Managing
      Underwriter or underwriters of any such Underwritten Offering or Overnight Underwritten Offering, as the case may be, advises the Company, and the Company advises the Selling Holders in writing, that the total number of shares of Listed Shares (or
      securities convertible into or exercisable or exchangeable for Listed Shares) that the Selling Holders and any other Persons intend to include in such Underwritten Offering or Overnight Underwritten Offering exceeds the number that can be sold in
      such Underwritten Offering or Overnight Underwritten Offering without being likely to have a material adverse effect on the price, timing or distribution of the Listed Shares (or securities convertible into or exercisable or exchangeable for Listed
      Shares) offered or the market for the Listed Shares (or such other securities), then the Listed Shares (or securities convertible into or exercisable or exchangeable for Listed Shares) to be included in such Underwritten Offering or Overnight
      Underwritten Offering shall include the number of Registrable Securities that such Managing Underwriter or underwriters advise the Company can be sold without having such adverse effect, with such number to be allocated (i) first, to the Company, if
      the offering was initiated for and on behalf of the Company or, otherwise, such other Person as has requested such registration, filing or offering, as the case may be and (ii) second, pro rata among all Selling Holders and other holders of any other
      Listed Shares having rights of registration on parity with the Registrable Securities (“Parity Holders”) who have requested participation in such Underwritten Offering or Overnight Underwritten Offering; provided, that,
      for the avoidance of doubt, in the event of an Underwritten Shelf Take-Down that was initiated for and on behalf of any initiating Holders pursuant to Section 2.1(d), the allocation shall be subject to the priority provisions in Section
        2.1(d)(iv). The pro rata allocations for each such Selling Holder shall be the product of (A) the aggregate number of Registrable Securities and Listed Shares proposed to be sold by all Selling Holders and Parity Holders, respectively,
      participating in the Underwritten Offering or Overnight Underwritten Offering (for the avoidance of doubt, after giving effect to the allocation pursuant to clauses (i) and (ii) of the preceding sentence) multiplied by (B) the
      fraction derived by dividing (x) the number of Registrable Securities owned at such time by such Selling Holder by (y) the aggregate number of Registrable Securities and Listed Shares owned at such time by all Selling Holders and Parity Holders,
      respectively, participating in the Underwritten Offering or Overnight Underwritten Offering. All participating Selling Holders and Parity Holders shall have the opportunity to share pro rata that portion of such priority allocable to any Selling
      Holder(s) or Parity Holders to the extent not so participating.

   

  
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  Section 2.3             Registration Procedures. In connection with its obligations under this Article II, the Company (or the applicable Selling Holder in the case of Section 2.3(q)),

      will, as soon as is reasonably practicable (or otherwise within the applicable timeframe, if any, specified in this Agreement):

   

  (a)             prepare and file with the SEC, and use commercially reasonable efforts to cause to be declared or become effective, the Shelf Registration Statement and each other registration statement contemplated by this
      Agreement with respect to all Registrable Securities as provided herein, make all required filings with FINRA and use commercially reasonable efforts to keep such Shelf Registration Statement and such other registration statement continuously
      effective during the period such Shelf Registration Statement or such other registration statement is required to remain effective pursuant to the terms of this Agreement; upon the occurrence of any event that would cause the Shelf Registration
      Statement or such other registration statement or the prospectus contained therein to contain a material misstatement or omission, the Company shall file an appropriate amendment to the Shelf Registration Statement or such other registration
      statement, a supplement to the prospectus, or a report filed with the SEC pursuant to Section 13(a), 14 or 15(d) of the Exchange Act, correcting any such misstatement or omission, and the Company shall use commercially reasonable efforts to cause
      such amendment to be declared or become effective and the Shelf Registration Statement and such other registration statement and the related prospectus to become usable for their intended purposes as soon as practicable thereafter;

   

  (b)            (i) prepare and file with the SEC such amendments and supplements to the Shelf Registration Statement and such other registration statement and the prospectus used in connection therewith as may be necessary to
      cause the Shelf Registration Statement and such other registration statement to be effective and to keep the Shelf Registration Statement effective for the Effectiveness Period and as may be necessary to comply with the provisions of the Securities
      Act with respect to the disposition of all securities covered by the Shelf Registration Statement and such other registration statement; and (ii) if a prospectus supplement will be used in connection with the marketing of an Underwritten Offering or
      Overnight Underwritten Offering from a registration statement contemplated by this Agreement and the Managing Underwriter at any time shall notify the Selling Holders that, in the reasonable judgment of such Managing Underwriter, inclusion of
      detailed information to be used in such prospectus supplement is of material importance to the success of the Underwritten Offering or Overnight Underwritten Offering of such Registrable Securities, or if such information is required by applicable
      law (including the rules and regulation of the SEC), include such information in a prospectus supplement; provided, that, before filing any registration statement, prospectus or any amendments or supplements thereto the Company shall provide
      reasonable advance notice thereof to the Holders and, if requested, furnish at no charge to the Holders of the Registrable Securities included or to be included in such registration statement (and to a single counsel for the Holders selected by the
      holders of a majority of Registrable Securities) and the Managing Underwriter or underwriters (and to their counsel), if any, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by
      reference therein and all exhibits thereto) proposed to be filed (in each case at least five Business Days prior to such filing), and the Company shall not file any such registration statement or prospectus or any amendments or supplements thereto in
      respect of which the Holders have provided or must provide information for the inclusion therein without such Holders being afforded an opportunity to review such documentation if the holders of a majority of the Registrable Securities covered by
      such Registration Statement, or the Managing Underwriter or underwriters, if any, or any of their respective counsel shall reasonably object in writing on a timely basis;

   

  
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  (c)            furnish to each Selling Holder (i) as far in advance as reasonably practicable before filing the Shelf Registration Statement or any other registration statement contemplated by this Agreement or any prospectus
      or prospectus supplement to be used in connection therewith or any supplement or amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed (including furnishing or making available exhibits and
      each document incorporated by reference therein to the extent then required by the rules and regulations of the SEC), and provide each such Selling Holder the opportunity to object to any information pertaining to such Selling Holder and its plan of
      distribution that is contained therein and make the corrections reasonably requested by such Selling Holder with respect to such information prior to filing the Shelf Registration Statement or such other registration statement or any prospectus or
      prospectus supplement to be used in connection therewith or supplement or amendment thereto, and (ii) such number of copies of the Shelf Registration Statement or such other registration statement and the prospectus included therein and any
      supplements and amendments thereto as such Persons may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities covered by the Shelf Registration Statement or such other registration statement;

   

  (d)            if applicable, use its commercially reasonable efforts to register or qualify the Registrable Securities covered by the Shelf Registration Statement or any other registration statement contemplated by this
      Agreement under the securities or blue sky laws of such jurisdictions as the Selling Holders or, in the case of an Underwritten Offering or Overnight Underwritten Offering, the Managing Underwriter, shall reasonably request, provided
      that the Company will not be required to qualify generally to transact business in any jurisdiction where it is not then required to so qualify or to take any action which would subject it to general service of process in any such jurisdiction where
      it is not then so subject;

   

  (e)            promptly notify each Selling Holder and each underwriter of Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of (i) the filing of the
      Shelf Registration Statement or any other registration statement contemplated by this Agreement or any prospectus or prospectus supplement to be used in connection therewith, or any amendment or supplement thereto, and, with respect to such Shelf
      Registration Statement or any other registration statement or any post-effective amendment thereto contemplated by this Agreement, when the same has become effective; and (ii) any written comments from the SEC with respect to any filing referred to
      in clause (i) and any written request by the SEC for amendments or supplements to the Shelf Registration Statement or any other registration statement contemplated by this Agreement or any prospectus or prospectus supplement thereto (provided
      that in no event shall such notice contain any material, non-public information regarding the Company or any of its subsidiaries);

   

  
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  (f)             promptly notify each Selling Holder and each underwriter of Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of (i) the happening of any
      event as a result of which the prospectus or prospectus supplement contained in the Shelf Registration Statement or any other registration statement contemplated by this Agreement or any post-effective amendment thereto, as then in effect, includes
      an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, in the light of the circumstances then existing; (ii) the issuance or threat of
      issuance by the SEC of any stop order suspending the effectiveness of the Shelf Registration Statement or any other registration statement contemplated by this Agreement, or the initiation of any proceedings for that purpose; or (iii) the receipt by
      the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction (provided that in no event shall such notice contain any
      material, non-public information regarding the Company or any of its subsidiaries); and following the provision of such notice, the Company agrees to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take other
      appropriate action as is necessary to remove a stop order, suspension, threat thereof or proceedings related thereto;

   

  (g)            furnish to each Selling Holder copies of any and all transmittal letters or other correspondence with the SEC or any other governmental agency or self-regulatory body or other body having jurisdiction (including
      any domestic or foreign securities exchange) relating to such offering of Registrable Securities (provided that in no event shall such letters or correspondence contain any material, non-public information regarding the Company or any of its
      subsidiaries);

   

  (h)            in the case of an Underwritten Offering or Overnight Underwritten Offering, furnish upon request and addressed to the underwriters and to the Selling Holders, (i) an opinion of counsel for the Company, dated the
      effective date of the applicable registration statement or the date of any amendment or supplement thereto, and a letter of like kind dated the date of the closing under the underwriting agreement, and (ii) a “comfort letter,” dated the effective
      date of the applicable registration statement or the date of any amendment or supplement thereto and a letter of like kind dated the date of the closing under the underwriting agreement, in each case, signed by the independent public accountants
      (and, if applicable, independent reserve engineers) who have certified the Company’s financial statements (or prepared, reviewed or audited, as applicable, oil and gas reserves) included or incorporated by reference into the applicable registration
      statement, and each of the opinion and the “comfort letter” shall be in customary form and cover substantially the same matters with respect to such registration statement (and the prospectus and any prospectus supplement included therein) as are
      customarily covered in opinions of issuer’s counsel and in accountants’ (and, if applicable, independent reserve engineers’) letters delivered to the underwriters in Underwritten Offerings or Overnight Underwritten Offerings of securities, and such
      other matters as such underwriters or Selling Holders may reasonably request;

   

  
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  (i)             otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable, an earnings
      statement covering the period of at least 12 months, but not more than 18 months, beginning with the first full calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of
      Section 11(a) of the Securities Act and Rule 158 promulgated thereunder;

   

  (j)             make available to the appropriate representatives of the Managing Underwriter and Selling Holders access to such information and the Company personnel as is reasonable and customary to enable such parties to
      establish a due diligence defense under the Securities Act; including, but not limited to, copies of all correspondence between the SEC and the Company, its counsel or auditors and all memoranda relating to discussions with the SEC or its staff with
      respect to the registration statement and all pertinent financial and other records, and, upon receipt of such confidentiality agreements as the Company may reasonably request, make available for inspection by such appropriate representatives
      pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such representative;

   

  (k)            use its commercially reasonable efforts to cause all Registrable Securities registered pursuant to this Agreement to be listed on each securities exchange or nationally recognized quotation system on which
      similar securities issued by the Company are then listed or quoted;

   

  (l)             use its commercially reasonable efforts to cause the Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and
      operations of the Company to enable the Selling Holders to consummate the disposition of such Registrable Securities;

   

  (m)           provide a transfer agent and registrar for all Registrable Securities covered by such registration statement not later than the effective date of such registration statement;

   

  (n)            enter into customary agreements and take such other actions as are reasonably requested by the Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition of such Registrable
      Securities and entry of such Registrable Securities in book-entry with The Depository Trust Company (including, making appropriate officers of the Company available to (i) prepare and make presentations at any “road shows” before analysts and other
      customary marketing activities, (ii) participate in one on one meetings with prospective purchasers of the Registrable Securities and (iii) cooperate as requested by the underwriters in the offering, marketing or selling of the Registrable
      Securities);

   

  (o)            cause the Registrable Securities to be initially represented by direct registration with the Company’s transfer agent and provide a CUSIP number for all Registrable Securities; and, in connection therewith, if
      reasonably required by the Company’s transfer agent, the Company shall promptly deliver any authorizations, certificates and directions required by the transfer agent which authorize and direct the transfer agent to issue such Registrable Securities
      without legend upon sale by the holder of such Registrable Securities under the Shelf Registration Statement or any other registration statement contemplated by this Agreement;

   

  
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  (p)            if any Selling Holder could reasonably be deemed to be an “underwriter,” as defined in Section 2(a)(11) of the Securities Act, in connection with the registration statement in respect of any registration of
      Registrable Securities of such Selling Holder pursuant to this Agreement, and any amendment or supplement thereof (any such registration statement or amendment or supplement, a “Holder Underwriter Registration Statement”), then, (i)
      until the Effectiveness Period ends, cooperate with such Selling Holder in allowing such Selling Holder to conduct customary “underwriter’s due diligence” with respect to the Company and satisfy its obligations in respect thereof; (ii) until the
      Effectiveness Period ends, at any Selling Holder’s request, furnish to such Selling Holder, on the date of the effectiveness of any Holder Underwriter Registration Statement and thereafter no more often than on a quarterly basis when so requested,
      (A) a letter, dated such date, from the Company’s independent certified public accountants (and, if applicable, independent reserve engineers) in form and substance as is customarily given by independent certified public accountants (and, if
      applicable, independent reserve engineers) to underwriters in an underwritten public offering, addressed to such Selling Holder, (B) an opinion, dated as of such date, of counsel representing the Company for purposes of such Holder Underwriter
      Registration Statement, in form, scope and substance as is customarily given in an underwritten public offering, including a standard “10b-5” opinion for such offering, addressed to such Selling Holder and (C) a standard officer’s certificate from
      the Chief Executive Officer and Chief Financial Officer of the Company addressed to such Selling Holder; and (iii) use its reasonable efforts to provide legal counsel to such Holder with an opportunity to review and comment upon any such Holder
      Underwriter Registration Statement, and any amendments and supplements thereto, prior to its filing with the SEC;

   

  (q)            each Selling Holder, upon receipt of notice from the Company of the happening of any event of the kind described in subsection (f) of this Section 2.3, shall reasonably promptly discontinue
      disposition of the Registrable Securities until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by subsection (f) of this Section 2.3 or until it is advised in writing by the Company
      that the use of the prospectus may be resumed, and has received copies of any additional or supplemental filings incorporated by reference in the prospectus, and, if so directed by the Company, such Selling Holder will, or will request the Managing
      Underwriter or underwriters, if any, to deliver to the Company (at the Company’s expense) all copies in their possession or control, other than permanent file copies then in such Selling Holder’s possession, of the prospectus covering such
      Registrable Securities current at the time of receipt of such notice;

   

  (r)             if requested by a Holder, (i) as soon as practicable incorporate in a prospectus supplement or post-effective amendment such information as such Holder reasonably requests to be included therein relating to the
      sale and distribution of Registrable Securities, including information with respect to such Holder or any subsequent Holder, the number of Registrable Securities being offered or sold, the purchase price being paid therefor and any other terms of the
      offering of the Registrable Securities to be sold in such offering; (ii) as soon as practicable make all required filings of such prospectus supplement or post-effective amendment after being notified of the matters to be incorporated in such
      prospectus supplement or post-effective amendment; and (iii) as soon as practicable, supplement or make amendments to the Shelf Registration Statement or any other registration statement; and

   

  
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  (s)            use its commercially reasonable efforts to take all other steps reasonably necessary to effect the registration of the Registrable Securities contemplated hereby.

   

  Section 2.4             Cooperation by Holders. The Company shall have no obligation to include in the Shelf Registration Statement or any other registration statement contemplated by this Agreement Registrable
      Securities of a Holder who has failed to timely furnish such information which, in the opinion of counsel to the Company, is reasonably required to be furnished or confirmed in order for the registration statement or prospectus supplement thereto, as
      applicable, to comply with the Securities Act.

   

  Section 2.5              Expenses.

   

  (a)            Certain Definitions. “Registration Expenses” means all expenses incident to the Company’s performance under or compliance with this Agreement to effect the registration of Registrable
      Securities on the Shelf Registration Statement or any other registration statement, prospectus or prospectus supplement or amendment or supplement contemplated by this Agreement, an Underwritten Offering or Overnight Underwritten Offering covered
      under this Agreement, and/or the disposition of such securities, including, without limitation, all registration, filing, securities exchange listing fees, all registration, filing, qualification and other fees and expenses of complying with
      securities or blue sky laws, fees of FINRA, all underwriting fees, discounts and selling commissions and (to the extent not paid by the applicable underwriters) fees of underwriters’ counsel relating to the sale of securities other than the
      Registrable Securities, transfer taxes and fees of transfer agents and registrars, all word processing, duplicating and printing expenses, and the fees and disbursements of (x) one counsel to the Holders (selected by Holders holding a majority of
      Registrable Securities being registered) and (y) counsel and independent public accountants (and, if applicable, independent reserve engineers) for the Company, including the expenses of any legal opinions or letters, special audits or “comfort
      letters” required by or incident to such performance and compliance. Registration Expenses shall not include (i) any underwriter’s fees (including discounts, commissions or fees of underwriters, selling brokers, dealer managers or similar securities
      industry professionals) relating to the distribution of the Registrable Securities or (ii) any other expenses of the holders of Registrable Securities not specifically required to be paid by the Company pursuant to first sentence of this Section
        2.5(a).

   

  (b)            Expenses. The Company will pay all Registration Expenses as determined in good faith, including, in the case of an Underwritten Offering or Overnight Underwritten Offering, whether or not any sale
      is made pursuant to the Shelf Registration Statement or any other registration statement.

   

  
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  Section 2.6              Indemnification.

   

  (a)            By the Company. In the event of a registration of any Registrable Securities under the Securities Act pursuant to this Agreement, the Company will indemnify and hold harmless each Selling Holder
      thereunder, its Affiliates and their respective directors, officers, managers, employees and agents and each underwriter pursuant to the applicable underwriting agreement with such underwriter and each Person, if any, who controls such Selling Holder
      or underwriter within the meaning of the Securities Act and the Exchange Act and its directors, officers, employees and agents (collectively, the “Selling Holder Indemnified Persons”), against any losses, claims, damages, expenses or
      liabilities (including reasonable attorneys’, accountants’ and experts’ fees and expenses) (collectively, “Losses”), joint or several, to which such Selling Holder Indemnified Person may become subject under the Securities Act, the
      Exchange Act or otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in
      the Shelf Registration Statement or any other registration statement contemplated by this Agreement, any preliminary prospectus, prospectus supplement, free writing prospectus (or roadshow or other similar marketing material) or final prospectus, or
      any amendment or supplement thereof or (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in light of the circumstances under
      which they were made) not misleading, and will reimburse each such Selling Holder Indemnified Person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Loss or actions or proceedings; provided,

          however, that the Company will not be liable in any such case if and to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in strict
      conformity with information furnished by such Selling Holder Indemnified Person in writing specifically for use in the Shelf Registration Statement or such other registration statement or any prospectus contained therein or any amendment or
      supplement thereof. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Selling Holder Indemnified Person and shall survive the transfer of such securities by such Selling Holder.

   

  (b)            By Each Selling Holder. Each Selling Holder agrees severally and not jointly to indemnify and hold harmless the Company, its directors and officers, and each Person, if any, who controls the
      Company within the meaning of the Securities Act or of the Exchange Act against any Losses to the same extent as the foregoing indemnity from the Company to the Selling Holders, but only with respect to information regarding such Selling Holder
      furnished in writing by such Selling Holder expressly for inclusion in the Shelf Registration Statement, any other registration statement contemplated by this Agreement or any prospectus contained therein or any amendment or supplement thereof
      relating to the Registrable Securities; provided, however, that the liability of each Selling Holder shall not be greater in amount than the dollar amount of the proceeds (net of any Selling Expenses) received by such Selling Holder
      from the sale of the Registrable Securities giving rise to such indemnification.

   

  
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  (c)            Notice. Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the
      indemnifying party hereunder, notify the indemnifying party in writing thereof, but such indemnified party’s failure to so notify the indemnifying party shall not relieve the indemnifying party from any liability which it may have to any indemnified
      party other than under this Section 2.6 except to the extent it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure. In any action brought against any indemnified party, it shall notify
      the indemnifying party of the commencement thereof; provided, however, that the failure to notify the indemnifying party shall not relieve it from any liability that it may have under this Section 2.6 except to the extent it
      has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure. The indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with
      counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such
      indemnified party under this Section 2.6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected; provided,

          however, that, (i) if the indemnifying party has failed to assume the defense and employ counsel reasonably acceptable to the indemnified party or (ii) if the defendants in any such action include both the indemnified party and the
      indemnifying party and counsel to the indemnified party shall have concluded that there may be reasonable defenses available to the indemnified party that are different from or additional to those available to the indemnifying party, or if the
      interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, then the indemnified party shall have the right to select a separate counsel and to assume such legal defense and otherwise to
      participate in the defense of such action, with the reasonable expenses and fees of one such separate counsel (firm) and other reasonable expenses related to such participation to be reimbursed by the indemnifying party as incurred. Notwithstanding
      any other provision of this Agreement, no indemnified party shall settle any action brought against it with respect to which it is entitled to indemnification hereunder without the consent of the indemnifying party, in its sole discretion, unless the
      settlement thereof imposes no liability or obligation on, and includes a complete and unconditional release from all liability of, the indemnifying party.

   

  (d)            Contribution. If the indemnification provided for in this Section 2.6 is held by a court or government agency of competent jurisdiction to be unavailable to the Company or any Selling
      Holder Indemnified Person or is insufficient to hold it harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as
      a result of such Losses as between the Company, on the one hand, and such Selling Holder Indemnified Person, on the other hand, in such proportion as is appropriate to reflect the relative fault of the Company, on the one hand, and of such Selling
      Holder Indemnified Person, on the other, in connection with the statements or omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall any Selling Holder
      be required to contribute an aggregate amount in excess of the dollar amount of proceeds received by any Selling Holder from the sale of Registrable Securities giving rise to such indemnification. The relative fault of the Company, on the one hand,
      and each Selling Holder Indemnified Person, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has
      been made by, or relates to, information supplied by such party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just
      and equitable if contributions pursuant to this paragraph were to be determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the first sentence of this
      paragraph. The amount paid by an indemnified party as a result of the Losses referred to in the first sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with
      investigating, defending or resolving any Loss which is the subject of this paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who
      is not guilty of such fraudulent misrepresentation.

   

  
    20 

    
      
 

  

   

  (e)            Other Indemnification. The provisions of this Section 2.6 shall be in addition to any other rights to indemnification or contribution which an indemnified party may have pursuant to law,
      equity, contract or otherwise.

   

  Section 2.7             Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the SEC that may permit the sale of the Registrable Securities to the public without
      registration, the Company agrees to use its commercially reasonable efforts to:

   

  (a)            make and keep public information regarding the Company available, as those terms are understood and defined in Rule 144 (or any successor rule or regulation to Rule 144 then in force) of the Securities Act, at
      all times;

   

  (b)            file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act at all times;

   

  (c)            so long as a Holder owns any Registrable Securities, (i) furnish to such Holder promptly upon request a written statement of the Company that it has complied with the reporting requirements of Rule 144 (or any
      successor rule or regulation to Rule 144 then in force) under the Securities Act and (ii) furnish to such Holder reasonably promptly upon request a copy of the most recent annual or quarterly report of the Company, and such other reports and
      documents so filed as such Holder may reasonably request in availing itself of any rule or regulation of the SEC allowing such Holder to sell any such securities without registration; and

   

  (d)            take such further action as any Holder may reasonably request, all to the extent required from time to time to enable the Holders to sell Registrable Securities without registration under the Securities Act
      within the limitations of the exemption provided by Rule 144 (or any successor rule or regulation to Rule 144 then in force) under the Securities Act.

   

  Section 2.8             Transfer or Assignment of Registration Rights. A Holder’s rights hereunder may be transferred or assigned by any Holder; provided, that (a) the transferee or assignee is an Affiliate of
      such Holder or a Permitted Transferee or the transfer or assignment is with respect to Registrable Securities constituting (1) at least 5% of the Registrable Securities or (2) 100% of the Registrable Securities held in the aggregate by the
      transferring Holder and its Affiliates, (b) the Company is given written notice as promptly as practicable after any said transfer or assignment, stating the name and address of each such transferee or assignee and identifying the securities with
      respect to which such rights are being transferred or assigned and (c) each such transferee or assignee assumes in writing responsibility for its portion of the obligations of such Holder under this Agreement.

   

  Section 2.9             Information by Holder. Any Holder or Holders of Registrable Securities included in any registration statement shall promptly furnish to the Company such information regarding such Holder or
      Holders and the distribution proposed by such Holder or Holders as the Company may reasonably request and as shall be required in connection with any registration, qualification or compliance referred to herein.

   

  
    21 

    
      
 

  

   

  Section 2.10           No Inconsistent Agreements; Limitation on Subsequent Registration Rights. The Company has not entered, as of the date hereof, and the Company shall not enter, after the date of this Agreement,
      into any agreement with respect to any of its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. From and after the date of this Agreement, the Company shall
      not, without the prior written consent of the Holders of at least a majority of the Registrable Securities of such Holders, file or have declared effective a registration statement for equity securities before the Shelf Registration Statement is
      filed or declared effective, as applicable. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders holding at least a majority of Registrable Securities, enter into any agreement with any
      current or future holder of any securities of the Company that would allow such current or future holder to require the Company to include securities in the Shelf Registration Statement, or in any Piggyback Offering on a basis that is on parity with,
      or superior in any material respect to, the Piggyback Offering rights granted to the Holders pursuant to Section 2.2 of this Agreement.

   

  Article III

      MISCELLANEOUS

   

  Section 3.1             Communications. All notices and other communications provided for hereunder shall be in writing and shall be given by hand delivery, electronic mail, registered or certified
      mail, return receipt requested, regular mail, facsimile or air courier guaranteeing overnight delivery to the following addresses:

   

  if to the Company to:

   

  Riley Exploration – Permian, LLC

  29 E. Reno Avenue, Suite 500

  Oklahoma City, OK, 73104

  Attention: Bobby D. Riley

  Chief Executive Officer

  bobby@rileypermian.com

   

  or, if to a Member, such Person’s address as set forth on the signature page
      hereto or, if to a transferee of a Holder, to the transferee at the addresses provided pursuant to Section 2.8 above. All notices and communications shall be deemed to have been duly given: (i) at the time delivered by hand, if personally
      delivered; (ii) when notice is sent to the sender that the recipient has read the message, if sent by electronic mail; (iii) upon actual receipt if sent by registered or certified mail, return receipt requested, or regular mail, if mailed; (iv) upon
      actual receipt if received during recipient’s normal business hours, or at the beginning of the recipient’s next Business Day if not received during recipient’s normal business hours, if sent by facsimile and confirmed by appropriate answer-back; and
      (v) upon actual receipt when delivered to an air courier guaranteeing overnight deliver.

   

  Section 3.2             Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of the parties, including subsequent
      Holders of Registrable Securities to the extent permitted herein.

   

  
    22 

    
      
 

  

   

  Section 3.3              Recapitalization, Exchanges, etc. Affecting the Stock.

   

  (a)            The provisions of this Agreement shall apply to the full extent set forth herein with respect to any and all stock or other securities of the Company or any successor or assign of the Company (whether by merger,
      acquisition, consolidation, reorganization, sale of assets or otherwise), which may be issued in respect of, in exchange for or in substitution of, the Registrable Securities, and shall be appropriately adjusted for combinations, stock splits,
      recapitalizations, pro rata distributions of stock and the like occurring after the date of this Agreement.

   

  (b)            The Company agrees that it shall not effect or permit to occur any combination or subdivision of Listed Shares or other securities constituting Registrable Securities which would adversely affect the ability of
      any Holder of any Registrable Securities to include such Registrable Securities in any registration contemplated by this Agreement or the marketability of such Registrable Securities in any such registration.

   

  Section 3.4             Aggregation of Registrable Securities. All Registrable Securities held or acquired by Persons who are Affiliates of one another shall be aggregated together for the purpose of determining the
      availability of any rights and applicability of any obligations under this Agreement.

   

  Section 3.5             Specific Performance. Damages in the event of breach of this Agreement by a party hereto may be difficult, if not impossible, to ascertain, and it is therefore agreed that each such Person, in
      addition to and without limiting any other remedy or right it may have, will have the right to an injunction or other equitable relief in any court of competent jurisdiction, enjoining any such breach, and enforcing specifically the terms and
      provisions hereof, and each of the parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court to grant such an injunction or other equitable relief. The existence of this right will
      not preclude any such Person from pursuing any other rights and remedies at law or in equity which such Person may have.

   

  Section 3.6             Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered,
      shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement.

   

  Section 3.7              Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

   

  Section 3.8             Governing Law. This Agreement is governed by and construed and enforced in accordance with the laws of the State of Delaware, without giving effect to
          any conflicts of law principles that would result in the application of any law other than the law of the State of Delaware.

   

  
    23 

    
      
 

  

   

  Section 3.9             Jurisdiction. Each of the parties irrevocably agrees that any legal action or proceeding with respect to this Agreement and the rights and obligations
          arising hereunder shall be brought and determined exclusively in the Court of Chancery of the State of Delaware or, if such Court does not have subject matter jurisdiction, to the Superior Court of the State of Delaware or, if jurisdiction is
          vested exclusively in the Federal courts of the United States, the Federal courts of the United States sitting in the State of Delaware, and any appellate court from any such state or Federal court, and hereby irrevocably and unconditionally
          agree that all claims with respect to any such claim shall be heard and determined in such Delaware court or in such Federal court, as applicable. The parties agree that a final judgment in any such claim is conclusive and may be
      enforced in any other jurisdiction by suit on the judgment or in any other manner provided by law. In addition, each of the parties hereby irrevocably and unconditionally agrees (1) that it is and shall continue to be subject to the jurisdiction of
      the courts of the State of Delaware and of the federal courts sitting in the State of Delaware, and (2)(A) to the extent that such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an agent in the
      State of Delaware as such party’s agent for acceptance of legal processes and notify the other parties of the name and address of such agent, and (B) to the fullest extent permitted by law, that service of process may also be made on such party by
      prepaid certified mail with a proof of mailing receipt validated by the U.S. Postal Service constituting evidence of valid service, and that, to the fullest extent permitted by applicable law, service made pursuant to (2)(A) or (B) above shall have
      the same legal force and effect as if served upon such party personally within the State of Delaware.

   

  Section 3.10          WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, EACH PARTY HEREBY IRREVOCABLY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF,
        DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING IN WHOLE OR IN PART UNDER, RELATED TO, BASED ON, OR IN CONNECTION WITH, THIS AGREEMENT OR THE SUBJECT MATTER
        HEREOF, WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER SOUNDING IN TORT OR CONTRACT OR OTHERWISE. ANY PARTY MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS Section 3.10 WITH ANY COURT
        AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

   

  Section 3.11           Severability of Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
      prohibition or unenforceability without invalidating the remaining provisions hereof or affecting or impairing the validity or enforceability of such provision in any other jurisdiction.

   

  Section 3.12           Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of
      the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with respect to the rights granted by the Company set forth
      herein. This Agreement amends, restates and supersedes both the Original Registration Rights Agreement and the Amended Registration Rights Agreement in their entirety, and together with the Purchase Agreements and the Lock-Up Agreement (if any),
      supersedes all prior agreements and understandings between the parties with respect to such subject matter.

   

  
    24 

    
      
 

  

   

  Section 3.13           Amendment. This Agreement may be amended or waived only by means of a written amendment or waiver signed by the Company and the Holders of at least a majority of the then outstanding Registrable
      Securities; provided, however, that no such amendment shall materially and adversely affect the rights of any Holder hereunder without the consent of such Holder. Notwithstanding the foregoing, a waiver or consent to depart from the
      provisions hereof with respect to a matter that relates exclusively to the rights of holders of Registrable Securities whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of
      other holders of Registrable Securities may be given by holders of at least a majority of the Registrable Securities being sold by such Holders pursuant to such registration statement.

   

  Section 3.14          No Presumption. In the event any claim is made by a party relating to any conflict, omission, or ambiguity in this Agreement, no presumption or burden of proof or persuasion shall be implied by
      virtue of the fact that this Agreement was prepared by or at the request of a particular party or its counsel.

   

  Section 3.15           Obligations Limited to Parties to Agreement. Each of the Parties hereto covenants, agrees and acknowledges that no Person other than the Members (and their transferees or assignees) and the
      Company shall have any obligation hereunder and that notwithstanding that a Member is a limited liability company or other entity, no recourse under this Agreement shall be had against any former, current or future director, officer, employee, agent,
      general or limited partner, manager, member, stockholder or Affiliate of the Members or any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing,
      whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be
      incurred by any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of the Members or any former, current or future director, officer, employee, agent, general or limited
      partner, manager, member, stockholder or Affiliate of any of the foregoing, as such, for any obligations of the Members under this Agreement or for any claim based on, in respect of or by reason of such obligation or its creation.

   

  Section 3.16           Independent Nature of Holder’s Obligations. The obligations of each Holder under this Agreement are several and not joint with the obligations of any other Holder, and no Holder shall be
      responsible in any way for the performance of the obligations of any other Holder under this Agreement. Nothing contained herein, and no action taken by any Holder pursuant thereto, shall be deemed to constitute the Holder as a partnership, an
      association, a joint venture or any other kind of group or entity, or create a presumption that a Holder is in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement. Each Holder
      shall be entitled to independently protect and enforce its rights, including, the rights arising out of this Agreement, and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose.

   

  Section 3.17           Further Assurances. The Company and each of the Holders shall cooperate with each other and shall take such further action and shall execute and deliver such further documents as may be
      reasonably requested by any other party in order to carry out the provisions and purposes of this Agreement.

   

  
    25 

    
      
 

  

   

  Section 3.18            Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any remedies provided by law.

   

  [Signature page follows]

   

  
    26 

    
      
 

  

   

  IN WITNESS WHEREOF, the parties have executed this Agreement as of the
      date first written above.

   

  

  	 	COMPANY:
	 	 	 
	 	RILEY EXPLORATION – PERMIAN LLC
	 	 	 
	 	By:	/s/ Bobby D. Riley
	 	Name:	Bobby D. Riley
	 	Title:	Chief Executive Officer

   

  

  [Signature Page to Second Amended & Restated Registration Rights Agreement]

   

  
     

    
      
 

  

   

  	 	MEMBER:
	 	 	 
	 	RILEY EXPLORATION GROUP, INC.
	 	 	 
	 	By:	/s/ Corey Riley
	 	Name:	Corey Riley
	 	Title:	President

   

  	 	Address:	29 E. Reno, Suite 500
	 	 	Oklahoma City, OK 73104

  

   

  

  

  [Signature Page to Second Amended & Restated Registration Rights Agreement]

   

  
     

    
      
 

  

   

  	 	MEMBER:
	 	 	 
	 	YORKTOWN ENERGY PARTNERS XI, L.P.
	 	 	 
	 	By: Yorktown XI Company LP, its general partner
	 	 	 
	 	By: Yorktown XI Associates LLC, its general partner
	 	 	 
	 	By:	/s/ Bryan H. Lawrence
	 	Name:	Bryan H. Lawrence
	 	Title:	Member

   

  	 	Address:	410 Park Avenue, 19th Floor
	 	 	New York, New York 10022
	 	 	 
	 	 	With a copy to (which shall not constitute notice):
	 	 	Thompson & Knight LLP
	 	 	1722 Routh Street, Suite 1500
	 	 	Dallas, Texas 75201
	 	 	Attention: Amy Curtis
	 	 	Email: amy.curtis@tklaw.com

  

   

  

  

  

  [Signature Page to Second Amended & Restated Registration Rights Agreement]

   

  
     

    
      
 

  

   

  	 	MEMBER:
	 	 	 
	 	BOOMER PETROLEUM, LLC
	 	 	 
	 	By:	/s/ Alvin G. Libin
	 	Name:	Alvin G. Libin
	 	Title:	President

   

  	 	Address:	3200 255 5th Avenue SW
	 	 	Calgary, Alberta
	 	 	T2P 3G6 
	 	 	Attention: Alvin G. Libin
	 	 	 
	 	 	With a copy to (which shall not constitute notice): 
	 	 	Baker & McKenzie LLP
	 	 	700 Louisiana St., Suite 3000
	 	 	Houston, Texas 77002
	 	 	Attention: Denmon Sigler
	 	 	Facsimile: (713) 427-5099
	 	 	Email: denmon.sigler@bakermckenzie.com

   

  

  

  

  

  [Signature Page to Second Amended & Restated Registration Rights Agreement]

   

  
     

    
      
 

  

   

  	 	MEMBER:	 
	 	 	 
	 	BLUESCAPE RILEY EXPLORATION HOLDINGS LLC
	 	 	 
	 	By:	/s/ Philip Riley
	 	Name:	Philip Riley
	 	Title:	President
	 	 	 
	 	BLUESCAPE RILEY ACQUISITION COMPANY LLC
	 	 	 
	 	By:	/s/ Philip Riley
	 	Name:	Philip Riley
	 	Title:	President

   

  	 	Address:	919 Milam, Suite 550
	 	 	Houston, Texas 77002
	 	 	Attention: Philip Riley
	 	 	Email: priley@bluescapepartners.com
	 	 	 
	 	 	with a copy (which shall not constitute notice) to:
	 	 	 
	 	 	200 Crescent Court, Suite 1900
	 	 	Dallas, Texas  75201
	 	 	Attention: Jonathan A. Siegler
	 	 	 
	 	 	And
	 	 	 
	 	 	Vinson & Elkins L.L.P.
	 	 	1001 Fannin, Suite 2500
	 	 	Houston, Texas 77002-6760
	 	 	Attention: 	Bryan Loocke
	 	 	 	James M. Garrett
	 	 	Email: bloocke@velaw.com

  

   

  

  

  

  

  

  [Signature Page to Second Amended & Restated Registration Rights Agreement]

   

  
     

    
      
 

  

   

  	 	MEMBER: 
	 	 	 
	 	/s/ Bobby D. Riley
	 	BOBBY D. RILEY
	 	 	 
	 	 	 
	 	Address:	115 S Curly Willow Circle
	 	 	The Woodlands, TX 77375

  

   

  

  

  

  

  

  

  [Signature Page to Second Amended & Restated Registration Rights Agreement]

   

  
     

    
      
 

  

   

  	 	MEMBER: 
	 	 	 
	 	/s/ Kevin Riley
	 	KEVIN RILEY
	 	 	 
	 	 	 
	 	Address:	2600 Berry Farm Rd.
	 	 	Norman, OK 73072

   

  

  

  

  

  

  

  

  [Signature Page to Second Amended & Restated Registration Rights Agreement]

   

  
     

    
      
 

  

   

  	 	MEMBER: 
	 	 	 
	 	/s/ Corey Riley
	 	COREY RILEY
	 	 	 
	 	 	 
	 	Address:	P.O. Box 2560
	 	 	Blanchard, Oklahoma 73010

  

   

  

  

  

  

  

  

  

  

  [Signature Page to Second Amended & Restated Registration Rights Agreement]Exhibit 10.1 
  
    
      Execution Version 

      CREDIT AGREEMENT  

      dated as of September 28, 2017 

      among 

      RILEY EXPLORATION - PERMIAN, LLC 

      as Borrower 

      THE LENDERS FROM TIME TO TIME PARTY HERETO 

      and 

      SUNTRUST BANK 

      as Administrative Agent 

       

      
         

      
      SUNTRUST ROBINSON HUMPHREY, INC. 

      Sole Lead Arranger and Sole Bookrunner 

    

  
   

  

  TABLE OF CONTENTS 

   

   

  							
	 	  	 	  	Page	 
	
          ARTICLE I DEFINITIONS; CONSTRUCTION

        	  	 	1	 
	
          Section 1.1.

        	  	Definitions	  	 	1	 
	
          Section 1.2.

        	  	Classifications of Loans and Borrowings	  	 	30	 
	
          Section 1.3.

        	  	Accounting Terms and Determination	  	 	30	 
	
          Section 1.4.

        	  	Terms Generally	  	 	30	 
	
          Section 1.5.

        	  	Time of Day	  	 	31	 
		
	
          ARTICLE II AMOUNT AND TERMS OF THE COMMITMENTS

        	  	 	31	 
	
          Section 2.1.

        	  	General Description of Facility	  	 	31	 
	
          Section 2.2.

        	  	Loans	  	 	31	 
	
          Section 2.3.

        	  	Procedure for Borrowings	  	 	31	 
	
          Section 2.4.

        	  	Borrowing Base	  	 	32	 
	
          Section 2.5.

        	  	Funding of Borrowings	  	 	34	 
	
          Section 2.6.

        	  	Interest Elections	  	 	35	 
	
          Section 2.7.

        	  	Optional Reduction and Termination of Commitments	  	 	36	 
	
          Section 2.8.

        	  	Repayment of Loans	  	 	36	 
	
          Section 2.9.

        	  	Evidence of Indebtedness	  	 	36	 
	
          Section 2.10.

        	  	Optional Prepayments	  	 	37	 
	
          Section 2.11.

        	  	Mandatory Prepayments	  	 	37	 
	
          Section 2.12.

        	  	Interest on Loans	  	 	39	 
	
          Section 2.13.

        	  	Fees	  	 	39	 
	
          Section 2.14.

        	  	Computation of Interest and Fees	  	 	40	 
	
          Section 2.15.

        	  	Inability to Determine Interest Rates	  	 	40	 
	
          Section 2.16.

        	  	Illegality	  	 	41	 
	
          Section 2.17.

        	  	Increased Costs	  	 	41	 
	
          Section 2.18.

        	  	Funding Indemnity	  	 	42	 
	
          Section 2.19.

        	  	Taxes	  	 	43	 
	
          Section 2.20.

        	  	
          Payments Generally; Pro Rata Treatment; Sharing of Set-offs

        	  	 	46	 
	
          Section 2.21.

        	  	Letters of Credit	  	 	48	 
	
          Section 2.22.

        	  	Mitigation of Obligations	  	 	52	 
	
          Section 2.23.

        	  	Replacement of Lenders	  	 	52	 
	
          Section 2.24.

        	  	Defaulting Lenders	  	 	52	 
		
	
          ARTICLE III CONDITIONS PRECEDENT TO LOANS AND LETTERS OF CREDIT

        	  	 	55	 
	
          Section 3.1.

        	  	Conditions to Effectiveness	  	 	55	 
	
          Section 3.2.

        	  	Conditions to Each Credit Event	  	 	58	 
	
          Section 3.3.

        	  	Delivery of Documents	  	 	59	 
		
	
          ARTICLE IV REPRESENTATIONS AND WARRANTIES

        	  	 	59	 
	
          Section 4.1.

        	  	Existence; Power	  	 	59	 
	
          Section 4.2.

        	  	Organizational Power; Authorization	  	 	59	 
	
          Section 4.3.

        	  	Governmental Approvals; No Conflicts	  	 	59	 
	
          Section 4.4.

        	  	Financial Statements	  	 	60	 
	
          Section 4.5.

        	  	Litigation and Environmental Matters	  	 	60	 
	
          Section 4.6.

        	  	Compliance with Laws and Agreements	  	 	61	 
	
          Section 4.7.

        	  	Investment Company Act	  	 	61	 
	
          Section 4.8.

        	  	Taxes	  	 	61	 

   

  i 

   

  

  							
	
          Section 4.9.

        	  	Margin Regulations	  	 	62	 
	
          Section 4.10.

        	  	ERISA	  	 	62	 
	
          Section 4.11.

        	  	Ownership of Property; Insurance	  	 	62	 
	
          Section 4.12.

        	  	Disclosure	  	 	64	 
	
          Section 4.13.

        	  	Labor Relations	  	 	64	 
	
          Section 4.14.

        	  	Subsidiaries	  	 	64	 
	
          Section 4.15.

        	  	Solvency	  	 	64	 
	
          Section 4.16.

        	  	Deposit and Disbursement Accounts	  	 	65	 
	
          Section 4.17.

        	  	Collateral Documents	  	 	65	 
	
          Section 4.18.

        	  	Restriction on Liens	  	 	65	 
	
          Section 4.19.

        	  	Material Agreements	  	 	65	 
	
          Section 4.20.

        	  	OFAC; Foreign Corrupt Practices Act	  	 	66	 
	
          Section 4.21.

        	  	Patriot Act	  	 	66	 
	
          Section 4.22.

        	  	Gas Imbalances; Prepayments	  	 	66	 
	
          Section 4.23.

        	  	Marketing of Production	  	 	66	 
	
          Section 4.24.

        	  	Hedging Transactions and Qualified ECP Guarantor	  	 	66	 
	
          Section 4.25.

        	  	EEA Financial Institutions	  	 	67	 
		
	
          ARTICLE V AFFIRMATIVE COVENANTS

        	  	 	67	 
	
          Section 5.1.

        	  	Financial Statements and Other Information	  	 	67	 
	
          Section 5.2.

        	  	Notices of Material Events	  	 	68	 
	
          Section 5.3.

        	  	Existence; Conduct of Business	  	 	69	 
	
          Section 5.4.

        	  	Compliance with Laws	  	 	70	 
	
          Section 5.5.

        	  	Payment of Obligations	  	 	70	 
	
          Section 5.6.

        	  	Books and Records	  	 	70	 
	
          Section 5.7.

        	  	Visitation and Inspection	  	 	70	 
	
          Section 5.8.

        	  	Maintenance of Properties; Insurance	  	 	70	 
	
          Section 5.9.

        	  	Use of Proceeds; Margin Regulations	  	 	72	 
	
          Section 5.10.

        	  	Casualty and Condemnation	  	 	72	 
	
          Section 5.11.

        	  	Cash Management	  	 	72	 
	
          Section 5.12.

        	  	Additional Subsidiaries and Collateral	  	 	72	 
	
          Section 5.13.

        	  	Reserve Reports	  	 	73	 
	
          Section 5.14.

        	  	Title Information	  	 	74	 
	
          Section 5.15.

        	  	Additional Mortgaged Property	  	 	75	 
	
          Section 5.16.

        	  	Further Assurances	  	 	75	 
	
          Section 5.17.

        	  	Environmental Matters	  	 	76	 
	
          Section 5.18.

        	  	Commodity Exchange Act Keepwell Provisions	  	 	76	 
	
          Section 5.19.

        	  	Minimum Hedging	  	 	77	 
		
	
          ARTICLE VI FINANCIAL COVENANTS

        	  	 	77	 
	
          Section 6.1.

        	  	Leverage Ratio	  	 	77	 
	
          Section 6.2.

        	  	Current Ratio	  	 	77	 
	
          Section 6.3.

        	  	Capital Expenditures	  	 	77	 
	
          Section 6.4.

        	  	Cure Right	  	 	77	 
		
	
          ARTICLE VII NEGATIVE COVENANTS

        	  	 	78	 
	
          Section 7.1.

        	  	Indebtedness and Preferred Equity	  	 	78	 
	
          Section 7.2.

        	  	Liens	  	 	79	 
	
          Section 7.3.

        	  	Fundamental Changes	  	 	80	 
	
          Section 7.4.

        	  	Investments, Loans	  	 	81	 
	
          Section 7.5.

        	  	Restricted Payments	  	 	82	 

   

  ii 

   

  

  							
	
          Section 7.6.

        	  	Sale of Properties; Termination of Hedging Transactions	  	 	82	 
	
          Section 7.7.

        	  	Transactions with Affiliates	  	 	84	 
	
          Section 7.8.

        	  	Restrictive Agreements	  	 	85	 
	
          Section 7.9.

        	  	Sale and Leaseback Transactions	  	 	85	 
	
          Section 7.10.

        	  	Hedging Transactions	  	 	85	 
	
          Section 7.11.

        	  	Amendment to Material Documents	  	 	86	 
	
          Section 7.12.

        	  	Sale or Discount of Receivables	  	 	86	 
	
          Section 7.13.

        	  	Accounting Changes	  	 	86	 
	
          Section 7.14.

        	  	Lease Obligations	  	 	86	 
	
          Section 7.15.

        	  	Government Regulation	  	 	87	 
	
          Section 7.16.

        	  	Gas Imbalances, Take-or-Pay or Other Prepayments	  	 	87	 
	
          Section 7.17.

        	  	Marketing Activities	  	 	87	 
	
          Section 7.18.

        	  	Non-Qualified ECP Guarantors	  	 	87	 
	
          Section 7.19.

        	  	Environmental Matters	  	 	87	 
	
          Section 7.20.

        	  	Sanctions and Anti-Corruption Laws	  	 	87	 
		
	
          ARTICLE VIII EVENTS OF DEFAULT

        	  	 	88	 
	
          Section 8.1.

        	  	Events of Default	  	 	88	 
	
          Section 8.2.

        	  	Application of Proceeds from Collateral	  	 	91	 
		
	
          ARTICLE IX THE ADMINISTRATIVE AGENT

        	  	 	92	 
	
          Section 9.1.

        	  	Appointment of the Administrative Agent	  	 	92	 
	
          Section 9.2.

        	  	Nature of Duties of the Administrative Agent	  	 	92	 
	
          Section 9.3.

        	  	Lack of Reliance on the Administrative Agent	  	 	93	 
	
          Section 9.4.

        	  	Certain Rights of the Administrative Agent	  	 	93	 
	
          Section 9.5.

        	  	Reliance by the Administrative Agent	  	 	94	 
	
          Section 9.6.

        	  	The Administrative Agent in its Individual Capacity	  	 	94	 
	
          Section 9.7.

        	  	Successor Administrative Agent	  	 	94	 
	
          Section 9.8.

        	  	Withholding Tax	  	 	95	 
	
          Section 9.9.

        	  	The Administrative Agent May File Proofs of Claim	  	 	95	 
	
          Section 9.10.

        	  	Authorization to Execute Other Loan Documents	  	 	96	 
	
          Section 9.11.

        	  	Collateral and Guaranty Matters	  	 	96	 
	
          Section 9.12.

        	  	Right to Realize on Collateral and Enforce Guarantee	  	 	96	 
	
          Section 9.13.

        	  	Secured Bank Product Obligations and Hedging Obligations	  	 	97	 
	
          Section 9.14.

        	  	Authority to Release Guarantors, Collateral and Liens	  	 	97	 
		
	
          ARTICLE X MISCELLANEOUS

        	  	 	97	 
	
          Section 10.1.

        	  	Notices	  	 	97	 
	
          Section 10.2.

        	  	Waiver; Amendments	  	 	100	 
	
          Section 10.3.

        	  	Expenses; Indemnification	  	 	101	 
	
          Section 10.4.

        	  	Successors and Assigns	  	 	103	 
	
          Section 10.5.

        	  	Governing Law; Jurisdiction; Consent to Service of Process	  	 	106	 
	
          Section 10.6.

        	  	WAIVER OF JURY TRIAL	  	 	107	 
	
          Section 10.7.

        	  	Right of Set-off	  	 	107	 
	
          Section 10.8.

        	  	Counterparts; Integration	  	 	107	 
	
          Section 10.9.

        	  	Survival	  	 	108	 
	
          Section 10.10.

        	  	Severability	  	 	108	 
	
          Section 10.11.

        	  	Confidentiality	  	 	108	 
	
          Section 10.12.

        	  	Interest Rate Limitation	  	 	109	 
	
          Section 10.13.

        	  	Waiver of Effect of Corporate Seal	  	 	109	 
	
          Section 10.14.

        	  	Patriot Act	  	 	109	 
	
          Section 10.15.

        	  	No Advisory or Fiduciary Responsibility	  	 	109	 
	
          Section 10.16.

        	  	Acknowledgment and Consent to Bail-In of EEA Financial Institutions	  	 	110	 

   

  iii 

   

  

  					
	
          Schedules

        	 		  	
			
	
          Schedule I

        	 	
          -

        	  	Applicable Margin and Applicable Percentage
	
          Schedule II

        	 		  	Maximum Loan Amounts
			
	
          Schedule 4.5

        	 	
          -

        	  	Environmental Matters
	
          Schedule 4.11

        	 	
          -

        	  	Insurance
	
          Schedule 4.14

        	 	
          -

        	  	Subsidiaries
	
          Schedule 4.16

        	 	
          -

        	  	Deposit and Disbursement Accounts
	
          Schedule 4.19

        	 	
          -

        	  	Material Agreements
	
          Schedule 4.22

        	 	
          -

        	  	Gas Imbalances; Prepayments
	
          Schedule 4.23

        	 	
          -

        	  	Marketing of Production
	
          Schedule 4.24

        	 	
          -

        	  	Hedging Transactions
	
          Schedule 7.1

        	 	
          -

        	  	Existing Indebtedness
	
          Schedule 7.2

        	 	
          -

        	  	Existing Liens
	
          Schedule 7.4

        	 	
          -

        	  	Existing Investments
			
	
          Exhibits

        	 		  	
			
	
          Exhibit A

        	 	
          -

        	  	Form of Assignment and Acceptance
	
          Exhibit B

        	 	
          -

        	  	Form of Promissory Note
	
          Exhibit 2.3

        	 	
          -

        	  	Form of Notice of Borrowing
	
          Exhibit 2.6

        	 	
          -

        	  	Form of Notice of Continuation/Conversion
	
          Exhibit 2.19

        	 	
          -

        	  	Tax Certificates
	
          Exhibit 5.1(c)

        	 	
          -

        	  	Form of Compliance Certificate

   

  iv 

   

  

  CREDIT AGREEMENT 

  THIS CREDIT AGREEMENT (this “Agreement”) is made and entered into as of September 28,
    2017, by and among RILEY EXPLORATION - PERMIAN, LLC, a Delaware limited liability company (the “Borrower”), the several banks and other financial institutions and lenders from time to time party hereto (the “Lenders”),
    and SUNTRUST BANK, in its capacity as administrative agent for the Lenders (the “Administrative Agent”) and as issuing bank (the “Issuing Bank”). 

  W I T N E S S E T H: 

  WHEREAS, the Borrower has requested that the Lenders establish a $500,000,000 revolving credit facility in
    favor of the Borrower; 

  WHEREAS, subject to the terms and conditions of this Agreement, the Lenders and the Issuing Bank, to the
    extent of their respective Commitments as defined herein, are willing severally to establish the requested revolving credit facility and letter of credit subfacility in favor of the Borrower; 

  NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Borrower,
    the Lenders, the Administrative Agent and the Issuing Bank agree as follows: 

  ARTICLE I  

  DEFINITIONS; CONSTRUCTION 

  Section 1.1. Definitions. In addition to
    the other terms defined herein, the following terms used herein shall have the meanings herein specified (to be equally applicable to both the singular and plural forms of the terms defined): 

  “Acquisition” shall mean (a) any Investment by the Borrower or any of its Subsidiaries in any other Person
    organized in the United States (with substantially all of the assets of such Person and its Subsidiaries located in the United States), pursuant to which such Person shall become a Subsidiary of the Borrower or any of its Subsidiaries or shall be
    merged with the Borrower or any of its Subsidiaries or (b) any acquisition by the Borrower or any of its Subsidiaries of the assets of any Person (other than a Subsidiary of the Borrower) that constitute all or substantially all of the assets of such
    Person or a division or business unit of such Person, whether through purchase, merger or other business combination or transaction (and substantially all of such assets, division or business unit are located in the United States). With respect to a
    determination of the amount of an Acquisition, such amount shall include all consideration (including any deferred payments) set forth in the applicable agreements governing such Acquisition as well as the assumption of any Indebtedness in connection
    therewith. 

  “Adjusted LIBO Rate” shall mean, with respect to each Interest Period for a Eurodollar Loan, (i) the rate per annum equal to the London interbank offered rate for deposits in U.S. Dollars appearing on Reuters screen page LIBOR 01 (or on any successor or substitute page of such service or any successor to such service, or such other
    commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 A.M. (London time) two (2) Business Days prior to the first day of such Interest Period, with a maturity
    comparable to such Interest Period (provided that if such rate is less than zero, such rate shall be deemed to be zero), divided by (ii) a percentage equal to 1.00% minus the then stated maximum rate of all reserve requirements
    (including any marginal, emergency, supplemental, special or other reserves and without benefit of credits for proration, exceptions or offsets that may be available from time to time) applicable to any member bank of the Federal Reserve System in
    respect of Eurocurrency liabilities as defined in Regulation D (or any successor category of liabilities under Regulation D); provided, that if the rate 

   

  

   referred to in clause (i) above is not available at any such time for any reason, then the rate referred to in clause (i) shall instead be
    the interest rate per annum, as reasonably determined by the Administrative Agent, to be the arithmetic average of the rates per annum at which deposits in U. S. Dollars in an amount equal to the amount of such Eurodollar Loan are
    offered by major banks in the London interbank market to the Administrative Agent at approximately 11:00 A.M. (London time), two (2) Business Days prior to the first day of such Interest Period with a term equivalent to such Interest Period. For
    purposes of this Agreement, the Adjusted LIBO Rate will not be less than zero percent (0%). 

  “Administrative Agent” shall have the meaning set forth in the introductory paragraph hereof. 

  “Administrative Questionnaire” shall mean, with respect to each Lender, an administrative questionnaire in the form
    provided by the Administrative Agent and submitted to the Administrative Agent duly completed by such Lender. 

  “Affiliate” shall mean, as to any Person, any other Person that directly, or indirectly through one or more
    intermediaries, Controls, is Controlled by, or is under common Control with, such Person. For the purposes of this definition, Oakspring Energy Holdings, LLC is an Affiliate of the Borrower and “Control” shall mean the power, directly or indirectly,
    either to direct or cause the direction of the management and policies of a Person, whether through the ability to exercise voting power, by control or otherwise; provided that, without limiting the generality of the foregoing, any Person that
    owns directly or indirectly more than 50% of Capital Stock having ordinary voting power for the election of the directors or other governing body of a Person (other than as a limited partner of such other Person) will be deemed to “Control” such other
    Person. The terms “Controlled by” and “under common Control with” have the meanings correlative thereto.1 

  “Aggregate Commitment Amount” shall mean the aggregate principal amount of the Aggregate Commitments from time to
    time. 

  “Aggregate Commitments” shall mean, collectively, all Commitments of all Lenders at any time outstanding. “Aggregate
      Maximum Loan Amount” shall mean $500,000,000.00. On the Closing Date, the Aggregate Maximum Loan Amount is as set forth on Schedule II. 

  “Anti-Corruption Laws” shall mean all laws, rules and regulations of any jurisdiction applicable to the Borrower and
    its Subsidiaries concerning or relating to bribery or corruption. 

  “Anti-Terrorism Order” shall mean Executive Order 13224, signed by President George W. Bush on September 24, 2001. 

  “Applicable Consolidated Total Debt” shall mean, as of any date of determination, (a) until the end of the fiscal
    quarter ending March 31, 2018, Consolidated Total Debt, and (b) after the Fiscal Quarter ending March 31, 2018, Consolidated Total Debt less the amount of cash and cash equivalents held in accounts of any Loan Party up to an amount of such cash and
    cash equivalents, in aggregate, equal to $5 million dollars as of such date. 

  “Applicable Lending Office” shall mean, for each Lender and for each Type of Loan, the “Lending Office” of such
    Lender (or an Affiliate of such Lender) designated for such Type of Loan in the Administrative Questionnaire submitted by such Lender or such other office of such Lender (or such Affiliate of such Lender) as such Lender may from time to time specify to
    the Administrative Agent and the Borrower as the office by which its Loans of such Type are to be made and maintained. 

   

   

  	1 	NTD: Oakspring Agreements concept subject to review of copies of Oakspring Agreements provided by Riley. 

   

  2 

   

  

  “Applicable Margin” shall mean, as of any date, with respect to interest on all Loans outstanding on such date or
    the letter of credit fee, as the case may be, the percentage per annum set forth in the Borrowing Base Utilization grid, based upon the Borrowing Base Utilization Percentage then in effect, provided in Schedule I. 

  Each change in the Applicable Margin shall apply during the period commencing on the effective date of such change and ending on the date
    immediately preceding the effective date of the next such change; provided that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 5.13(a), then the “Applicable Margin” shall mean the
    rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level; provided further that upon the Borrower’s delivery of such Reserve Report the Applicable Margin shall revert to the Applicable Margin
    that would otherwise apply. 

  “Applicable Percentage” shall mean, as of any date, with respect to the unused commitment fee as of any date, the
    percentage per annum set forth in the Borrowing Base Utilization Grid, based upon the Borrowing Base Utilization Percentage then in effect, provided in Schedule I. 

  Each change in the Applicable Percentage shall apply during the period commencing on the effective date of such change and ending on the
    date immediately preceding the effective date of the next such change. The Applicable Percentage shall change when and as the relevant Borrowing Base Utilization Percentage changes. 

  “Approved Counterparty” shall mean any Person whose long term senior unsecured debt rating at the time a particular
    Hedging Transaction is entered into is A or A2 by S&P or Moody’s (or their equivalent), respectively, or higher; for the avoidance of doubt, Cargill shall be an Approved Counterparty. 

  “Approved Fund” shall mean any Person (other than a natural Person) that is (or will be) engaged in making,
    purchasing, holding or otherwise investing in commercial 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. 

  “Approved Petroleum Engineers” shall mean (a) Netherland Sewell & Associates, Inc. and (b) any other independent
    petroleum engineers reasonably acceptable to the Administrative Agent. 

  “Asset Sale” shall have the meaning set forth in Section 7.6. 

  “Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an assignee (with
    the consent of any party whose consent is required by Section 10.4(b)) and accepted by the Administrative Agent, in the form of Exhibit A attached hereto or any other form approved by the Administrative Agent. 

  “Availability Period” shall mean the period from the Closing Date to but excluding the Commitment
    Termination Date. 

  “Bail-In Action” shall mean the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution
    Authority in respect of any liability of an EEA Financial Institution. 

   

  3 

   

  

  
    “Bail-In Legislation” shall mean, with respect to any EEA Member Country implementing Article 55 of Directive
      2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 

    “Bank Product Obligations” shall mean, collectively, all obligations and other liabilities of any Loan Party to
      any Bank Product Provider arising with respect to any Bank Products. 

    “Bank Product Provider” shall mean any Person that, at the time it provides any Bank Product to any Loan Party,
      (i) is a Lender or an Affiliate of a Lender and (ii) except when the Bank Product Provider is SunTrust Bank and its Affiliates, has provided prior written notice to the Administrative Agent which has been acknowledged by the Borrower of (x) the
      existence of such Bank Product, (y) the maximum dollar amount of obligations arising thereunder (the “Bank Product Amount”) and (z) the methodology to be used by such parties in determining the obligations under such Bank Product from time to
      time. In no event shall any Bank Product Provider acting in such capacity be deemed a Lender for purposes hereof to the extent of and as to Bank Products except that each reference to the term “Lender” in Article IX and Section 10.3(b)
      shall be deemed to include such Bank Product Provider and in no event shall the approval of any such person in its capacity as Bank Product Provider be required in connection with the release or termination of any security interest or Lien of the
      Administrative Agent. The Bank Product Amount may be changed from time to time upon written notice to the Administrative Agent by the applicable Bank Product Provider. No Bank Product Amount may be established at any time that a Default or Event of
      Default has occurred and is continuing. 

    “Bank Products” shall mean any of the following services provided to any Loan Party by any Bank Product Provider:
      (a) any treasury or other cash management services, including deposit accounts, automated clearing house (ACH) origination and other funds transfer, depository (including cash vault and check deposit), zero balance accounts and sweeps, return items
      processing, controlled disbursement accounts, positive pay, lockboxes and lockbox accounts, account reconciliation and information reporting, payables outsourcing, payroll processing, trade finance services, investment accounts and securities
      accounts, and (b) card services, including credit cards (including purchasing cards and commercial cards), prepaid cards, including payroll, stored value and gift cards, merchant services processing, and debit card services. For the avoidance of
      doubt, Bank Products shall not include or be considered to include any investment banking services. 

    “Base Rate” shall for any day a rate per annum equal to the highest of (i) the rate of interest which the
      Administrative Agent announces from time to time as its prime lending rate, as in effect from time to time (the “Prime Rate”), (ii) the Federal Funds Rate, as in effect from time to time, plus 0.50% per annum, (iii) the Adjusted LIBO Rate
      determined on a daily basis for an Interest Period of one (1) month, plus 1.00% per annum (any changes in such rates to be effective as of the date of any change in such rate), and (iv) zero percent (0.00%) per annum. The Administrative Agent’s prime
      lending rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. The Administrative Agent may make commercial loans or other loans at rates of interest at, above, or below the
      Administrative Agent’s prime lending rate. Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Rate, or the Adjusted LIBO Rate will be effective from and including the effective date of such change in the Prime Rate, the
      Federal Funds Rate, or the Adjusted LIBO Rate. 

    “Borrower” shall have the meaning set forth in the introductory paragraph hereof. 

     

    4 

  

   

  

  
    “Borrowing” shall mean a borrowing consisting of Loans of the same Type made, converted or continued on the same
      date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect. 

    “Borrowing Base” shall mean at any time an amount equal to the amount determined in accordance with Section 2.4,
      as the same may be adjusted from time to time pursuant to this Agreement. 

    “Borrowing Base Deficiency” shall mean, at the time in question, the amount by which the total Credit Exposures
      exceeds the Borrowing Base then in effect. 

    “Borrowing Base Utilization Percentage” shall mean, as of any day, the fraction expressed as a percentage, the
      numerator of which is the sum of the Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day. 

    “Business Day” shall mean any day other than (i) a Saturday, Sunday or other day on which commercial banks in
      Atlanta, Georgia or New York are authorized or required by law to close and (ii) if such day relates to a Borrowing of, a payment or prepayment of principal or interest on, a conversion of or into, or an Interest Period for, a Eurodollar Loan or a
      notice with respect to any of the foregoing, any day on which banks are not open for dealings in Dollar deposits in the London interbank market. 

    “Capital Expenditures” shall mean, in respect of any Person, for any period, the aggregate (determined without
      duplication) of all expenditures and costs during the applicable period that are required to be included as additions during such period to Oil and Gas Properties and property, plant or equipment reflected in the consolidated balance sheet of the
      Loan Party in accordance with GAAP; provided, however, that Capital Expenditures for the Loan Party shall not include: 

    (a) expenditures to the extent they are made with proceeds of the issuance of Capital Stock of the Borrower; 

    (b) expenditures to the extent they are made with proceeds of insurance settlements, condemnation awards and other
      settlements in respect of lost, destroyed, damaged or condemned assets, equipment or other property to the extent such expenditures are made to replace or repair such lost, destroyed, damaged or condemned assets, equipment or other property or
      otherwise to acquire, maintain, develop, construct, improve, upgrade or repair assets or properties useful in the business of the Loan Party within twelve (12) months of receipt of such proceeds (or, if not made within such period of twelve
      (12) months, are committed to be made during such period); 

    (c) expenditures that are accounted for as capital expenditures of such person and that actually are paid for by a third
      party (excluding the Borrower or any Subsidiary thereof) and for which neither the Borrower nor any Subsidiary has provided or is required to provide or incur, directly or indirectly, any consideration or obligation to such third party or any other
      person (whether before, during or after such period); and 

    (d) the purchase price of equipment purchased during such period to the extent the consideration therefor consists of any
      combination of (i) used or surplus equipment traded in at the time of such purchase and (ii) the proceeds of a concurrent sale of used or surplus equipment, in each case, in the ordinary course of business. 

    “Capital Lease Obligations” of any Person shall mean all obligations of such Person to pay rent or other amounts
      under Capital Leases, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 

     

    5 

  

   

  

  
    “Capital Leases” shall mean, in respect of any Person, all leases which shall have been, or should have been, in
      accordance with GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder. 

    “Capital Stock” shall mean all shares, options, warrants, general or limited partnership interests, membership
      interests, participations or other equivalents (regardless of how designated) of or in a corporation, partnership, limited liability company or equivalent entity whether voting or nonvoting, including common stock, preferred stock or any other
      “equity security” (as such term is defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the Securities and Exchange Commission under the Exchange Act). 

    “Cargill” shall mean Cargill, Incorporated, a corporation organized and existing under the laws of the State of
      Delaware, by and through its Cargill Risk Management Business Unit, and having its principal place of business at 9350 Excelsior Boulevard, Hopkins, Minnesota 55343, U.S.A. 

    “Cargill Master Swaps Agreement” shall mean that certain Master Over-the-Counter Swaps Agreement, dated May 11,
      2017, among the Borrower and Cargill, and the supplements, schedules and annexes thereto, as amended, and the Hedging Transactions in connection therewith. 

    “Cash Collateralize” shall mean, in respect of any obligations, to provide and pledge (as a first priority
      perfected security interest) cash collateral for such obligations in Dollars with the Administrative Agent pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent (and “Cash Collateralized” and “Cash

        Collateralization” have the corresponding meanings). 

    “Change in Control” shall mean the occurrence of one or more of the following events: 

    (a) prior to a Qualified IPO, (i) any sale, lease, exchange or other transfer (in a single transaction or a series of
      related transactions) of all or substantially all of the assets of the Borrower to any Person or “group” (within the meaning of the Exchange Act and the rules of the Securities and Exchange Commission thereunder in effect on the date hereof), (ii)
      none of the Permitted Investors, individually or collectively owns, directly or indirectly, at least the Control Percentage of the Capital Stock of the Borrower, or otherwise possesses, directly or indirectly, the power to direct or cause the
      direction of the management and policies of the Borrower, by contract or otherwise, or (iii) the Yorktown Funds cease to own at least 30 % of the Equity Interests (including relevant voting and economics attributable thereto) in the Borrower; 

    (b) following a Qualified IPO, (i) any sale, lease, exchange or other transfer (in a single transaction or a series of
      related transactions) of all or substantially all of the assets of the Borrower to any Person or “group” (within the meaning of the Exchange Act and the rules of the Securities and Exchange Commission thereunder in effect on the date hereof), (ii)
      the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or “group” (within the meaning of the Exchange Act and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof) of
      50% or more of the outstanding shares of the voting equity interests of the Borrower, or (iii) during any period of 24 consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease to
      be composed of individuals who are Continuing Directors; and 

    (c) any “change in control” or similar event occurs (as set forth in the agreements relating to the Borrower’s Capital
      Stock) causing the Borrower or any of its Subsidiaries to repurchase or redeem, or pursuant to such event be required to repurchase or redeem, all or any part of the Capital Stock of the Borrower for cash (except as permitted under Section 7.5
      hereof). 

     

    6 

  

   

  

  “Change in Law” shall mean (i) the adoption or taking effect of any law, rule, regulation or treaty after the date
    of this Agreement, (ii) any change in any law, rule, regulation or treaty, or any change in the administration, interpretation, implementation or application thereof, by any Governmental Authority after the date of this Agreement, or (iii) compliance
    by any Lender (or its Applicable Lending Office) or the Issuing Bank (or, for purposes of Section 2.17(b), by the Parent Company of such Lender or the Issuing Bank, if applicable) with any request, rule, 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 for purposes of this Agreement, (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 in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 

  “Closing Date” shall mean the date on which the conditions precedent set forth in Section 3.1 and Section 3.2
    have been satisfied or waived in accordance with Section 10.2. 

  “Co-Invest Funds” shall mean Yorktown Energy Partners XI, L.P., a Delaware limited partnership, and any other co- investment vehicle formed by any Yorktown Fund to directly invest in the Borrower. time to time. 

  “Code” shall mean the Internal Revenue Code of 1986, as amended and in effect from 

  “Collateral” shall mean all tangible and intangible property, real and personal, of any Loan Party that is, or
    purports to be, subject to a Lien created in favor of the Administrative Agent to secure the whole or any part of the Obligations or any Guarantee thereof pursuant to the terms of one or more Collateral Documents. 

  “Collateral Documents” shall mean, collectively, the Guaranty and Security Agreement, the Mortgages, the Transfer
    Letters, the Control Account Agreements, and all other instruments and agreements now or hereafter executed and delivered by any Loan Party securing or perfecting the Liens securing the whole or any part of the Obligations or any Guarantee thereof, all
    UCC financing statements, fixture filings and stock powers, and all other documents, instruments, agreements and certificates executed and delivered by any Loan Party, in each case in connection with any of the foregoing. 

  “Commitment” shall mean, with respect to each Lender, the commitment of such Lender to make Loans and to acquire
    participations in Letters of Credit hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Credit Exposure hereunder. The amount representing each Lender’s Commitment shall at any time be the lesser of (a) such
    Lender’s Maximum Loan Amount and (b) such Lender’s Pro Rata Share of the then effective Borrowing Base, and for the avoidance of doubt notwithstanding anything herein to the contrary, any unused commitment fee provided for hereunder and under the
    applicable fee letter shall be determined by such lesser amount. 

  “Commitment Termination Date” shall mean the earliest of (i) the Stated Termination Date and (ii) the date on which
    the Commitments are terminated pursuant to Section 2.7 or Section 8.1. 

  “Commodity Exchange Act” shall mean the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended
    and in effect from time to time, and any successor statute. 

  “Communications” shall mean, collectively, any notice, demand, communication, information, document or other
    material provided by or on behalf of any Loan Party pursuant to any Loan Document or the transactions contemplated therein which is distributed by the Administrative Agent, any Lender or the Issuing Bank by shall mean of electronic communications
    pursuant to any Platform. 

   

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    “Company Operating Agreement” shall mean the Limited Liability Company Agreement of the Borrower, as amended from
      time to time in a manner not adverse to the interest of the Administrative Agent and each Lender in their capacity as Administrative Agent or Lender, and in the event the Borrower converts into a corporation, its articles or certificate of
      incorporation and bylaws, any related stockholder or shareholder agreement containing provisions from such Company Operating Agreement. 

    “Compliance Certificate” shall mean a certificate from the principal executive officer or the principal financial
      officer of the Borrower in the form of, and containing the certifications set forth in, the certificate attached hereto as Exhibit 5.1(c). 

    “Connection Income Taxes” shall mean Other Connection Taxes that are imposed on or measured by net income (however
      denominated) or that are franchise Taxes or branch profits Taxes. 

    “Consolidated Cash Balance” shall mean, at any time, (a) the aggregate amount of cash and cash equivalents of the
      Loan Parties (determined in accordance with GAAP) minus (b) to the extent such amounts are included in the calculation of clause (a) of this definition, cash proceeds from an issuance of Capital Stock of the Borrower that are deposited in a
      Controlled Account and to be used by a Loan Party to pay for the purchase or acquisition of Oil and Gas Properties by such Loan Party and with respect to which such Loan Party has entered into a binding and enforceable purchase and sale agreement
      (and the Borrower has delivered a certificate of a Responsible Officer certifying the entry into such purchase and sale agreement); provided that the deduction provided for by this clause (b) shall only apply from the date such purchase and sale
      agreement is entered into until the closing or termination of such purchase and sale agreement (including, (x) with respect to amounts held in escrow, until release of such amounts and (y) with respect to amounts that will be paid after closing in
      accordance with the terms of such purchase agreement or related agreement, until payment of such amounts) minus (c) the amount of cash set aside to pay amounts then due and owing to unaffiliated third parties minus (d) the amount of cash for which
      the Loan Parties have issued checks or initiated wires or ACH transfers in order to utilize such cash (or will, within five (5) Business Days issue checks or initiate wires or ACH transfers in order to utilize such cash). 

    “Consolidated Cash Balance Limit” shall mean, at any time, the greater of (a) $10,000,000 and (b) fifteen percent
      (15%) of the Borrowing Base in effect at such time. 

    “Consolidated EBITDAX” shall mean, for the Borrower and its Subsidiaries for any period, an amount equal to the
      sum of (i) Consolidated Net Income for such period plus (ii) to the extent deducted in determining Consolidated Net Income for such period, and without duplication, (A) Consolidated Interest Expense for such period, (B) income tax expense
      determined on a consolidated basis in accordance with GAAP for such period, (C) depreciation, depletion, accretion and amortization determined on a consolidated basis in accordance with GAAP for such period, (D) exploration expenses determined on a
      consolidated basis in accordance with GAAP for such period, and (E) non-cash charges resulting from the requirements of ASC 410, 718 and 815, any provision for the reduction in the carrying value of assets recorded in accordance with GAAP, and all
      other non-cash charges acceptable to the Administrative Agent determined on a consolidated basis, minus (iii) to the extent included in determining Consolidated Net Income, all noncash income added to Consolidated Net Income for such period (without
      duplication in respect of items considered in the definition of Consolidated Net Income hereunder); provided that, for purposes of calculating compliance with the financial covenants set forth in Article VI, to the extent that during
      such period any Loan Party shall have consummated an acquisition permitted by this Agreement or any sale, transfer or other disposition of any Person, business, property or assets permitted by this Agreement, Consolidated EBITDAX shall be calculated
      on a Pro Forma Basis with respect to such Person, business, property or assets so acquired or disposed of. 

     

    8 

  

   

  

  
    “Consolidated Interest Expense” shall mean, for the Borrower and its Subsidiaries for any period, determined on a
      consolidated basis in accordance with GAAP, total interest expense, including, without limitation, the interest component of any payments in respect of Capital Lease Obligations, capitalized or expensed during such period (whether or not actually
      paid during such period). 

    “Consolidated Net Income” shall mean, for the Borrower and its Subsidiaries for any period, the net income (or
      loss) of the Borrower and its Subsidiaries for such period determined on a consolidated basis in accordance with GAAP, but excluding therefrom (to the extent otherwise included therein) (i) any extraordinary gains or losses, (ii) any write-ups of
      assets or write-downs of assets (other than the sale of inventory in the ordinary course of business), (iii) any equity interest of the Borrower or any Subsidiary of the Borrower in the unremitted earnings of any Person that is not a Subsidiary
      except to the extent of cash dividends actually received, (iv) any income (or loss) of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the Borrower or any Subsidiary or the date that such Person’s
      assets are acquired by the Borrower or any Subsidiary, and (v) the cumulative effect of any change in GAAP. 

    “Consolidated Total Debt” shall mean, as of any date, all Indebtedness of the Borrower and its Subsidiaries
      measured on a consolidated basis as of such date, but excluding Indebtedness of the type described in subsection (xii) of the definition thereto. 

    “Continuing Director” shall mean, with respect to any period, any individuals (A) who were members of the board of
      directors or other equivalent governing body of the Borrower on the first day of such period, (B) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (A) above constituting at the
      time of such election or nomination at least a majority of that board or equivalent governing body, or (C) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (A) and (B)
      above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body. 

    “Contractual Obligation” of any Person shall mean any provision of any security issued by such Person or of any
      agreement, instrument or undertaking under which such Person is obligated or by which it or any of the property in which it has an interest is bound. 

    “Control Account Agreement” shall mean any tri-party agreement by and among a Loan Party, the Administrative Agent
      and SunTrust Bank, as depositary bank, in each case in form and substance satisfactory to the Administrative Agent. 

    “Control Percentage” shall mean, with respect to any Person, the percentage of the outstanding Capital Stock
      (including any options, warrants or similar rights to purchase such Capital Stock) of such Person having ordinary voting power which gives the direct or indirect holder of such Capital Stock the power to elect a majority of the board of directors (or
      other applicable governing body) of such Person. 

    “Controlled Account” shall have the meaning set forth in Section 5.11. 

    “Credit Exposure” shall mean, with respect to any Lender at any time, the sum of the outstanding principal amount
      of such Lender’s Loans and LC Exposure. 

    “Cure Right” shall have the meaning set forth in Section 6.4. 

     

    9 

  

   

  

  
    “Current Assets” shall mean all current assets of the Borrower and its consolidated Subsidiaries as of any date of
      determination calculated in accordance with GAAP, and in any event including the unused amount of the Aggregate Commitments (but with respect to such unused Aggregate Commitments only to the extent that no Event of Default has occurred and is
      continuing hereunder), but excluding non-cash assets under ASC 815. 

    “Current Liabilities” shall mean all liabilities of the Borrower and its consolidated Subsidiaries that should,
      calculated in accordance with GAAP, be classified as current liabilities as of such applicable date of determination, and in any event including all Indebtedness payable on demand or within one year from such date of determination without any option
      on the part of the obligor to extend or renew beyond such year and all accruals for federal or other taxes based on or measured by income and due and payable within such year, but excluding the current portion of long-term Indebtedness required to be
      paid within one year, the aggregate outstanding principal balance of the Loans and Letters of Credit and non-cash obligations or representing a valuation account under ASC 815. 

    “Debtor Relief Laws” shall mean the Bankruptcy Code of the United States of America, and all other liquidation,
      conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in
      effect. 

    “Default” shall mean any condition or event that, with the giving of notice or the lapse of time or both, would
      constitute an Event of Default. 

    “Default Interest” shall have the meaning set forth in Section 2.12(b). 

    “Defaulting Lender” shall mean, subject to Section 2.24(c), any Lender that (a) has failed
      to (i) fund all or any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of
      such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the
      Administrative Agent, any Issuing Bank or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two (2) Business Days of the date when due, (b) has notified the
      Borrower, the Administrative Agent or any Issuing Bank in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such
      Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically
      identified in such writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower
      that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the
      Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law or a Bail-In Action, or (ii) had appointed for it a receiver, custodian, conservator, trustee,
      administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting
      in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as
      such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the 

     

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     enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
      disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and
      such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.24(b)) upon delivery of written notice of such determination to the Borrower, each Issuing Bank and each Lender. 

    “Defensible Title” shall mean as to any proved Oil and Gas Property, defensible title and such title held by a
      Loan Party that (i) entitles such Loan Party to receive not less than the “Net Revenue Interest” set forth in the most recent Reserve Report with respect to such proved Oil and Gas Property without reduction, suspension or termination throughout the
      productive life of such proved Oil and Gas Property except as otherwise disclosed in such Reserve Report; (ii) obligates such Loan Party to bear costs and expenses relating to operations on and the maintenance and development of each proved Oil and
      Gas Property in an amount not greater than the “Working Interest” set forth in the most recent Reserve Report with respect to such proved Oil and Gas Property (except to the extent that such Loan Party is obligated under an operating agreement to
      assume a portion of a defaulting or non-consenting party’s share of costs), without increase for the respective productive life of such proved Oil and Gas Property except as disclosed in such Reserve Report; and (iii) is free and clear of Liens
      prohibited by this Agreement under Section 7.2; provided that subsections (i) and (ii) are subject to any Asset Sales in compliance with Section 7.6 since delivery of such applicable Reserve Report. 

    “Dollar(s)” and the sign “$” shall mean lawful money of the United States. 

    “EEA Financial Institution” shall mean (a) any institution established in any EEA Member Country which is subject
      to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any institution established in an EEA Member Country which
      is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

    “EEA Member Country” shall mean any of the member states of the European Union, Iceland, Liechtenstein, and
      Norway. 

    “EEA Resolution Authority” shall mean any public administrative authority or any Person entrusted with public
      administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

    “Engineering Reports” has the meaning assigned such term in Section 2.4(c)(i). 

    “Environmental Laws” shall mean all laws, rules, regulations, codes, ordinances, orders, decrees, judgments,
      injunctions, notices or binding agreements issued, promulgated or entered into by or with any Governmental Authority relating in any way to the environment, preservation or reclamation of natural resources, the management, Release or threatened
      Release of any Hazardous Material or to health and safety matters, including, without limitation, the Oil Pollution Act of 1990 (“OPA”), the Clean Air Act, the Comprehensive Environmental, Response, Compensation, and Liability Act of 1980 (“CERCLA”),
      the Federal Water Pollution Control Act, the Occupational Safety and Health Act of 1970, the Resource Conservation and Recovery Act of 1976 (“RCRA”), the Safe Drinking Water Act, the Toxic Substances Control Act, the Superfund Amendments and
      Reauthorization Act of 1986, and the Hazardous Materials Transportation Act. For the purposes of this definition, Section 4.5 and Section 5.17, the term “oil” shall have the meaning specified in OPA, the terms “hazardous substance” and “release” (or
      “threatened release”) shall have the meanings specified in CERCLA, the terms “solid waste” and “disposal” (or “disposed”) shall have the meanings specified in RCRA and the term “oil and gas waste” shall mean wastes associated with the exploration,
      development, or production of crude oil or natural gas. 

     

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    “Environmental Liability” shall mean any liability, contingent or otherwise (including any liability for damages,
      costs of environmental investigation and remediation, costs of administrative oversight, fines, natural resource damages, penalties or indemnities), of the Borrower or any of its Subsidiaries directly or indirectly resulting from or based upon
      (i) any actual or alleged violation of any Environmental Law, (ii) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (iii) any actual or alleged exposure to any Hazardous Materials, (iv) the
      Release or threatened Release of any Hazardous Materials or (v) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

    “Environmental Permit” shall mean any permit, registration, license, notice, approval, consent, exemption,
      variance, or other authorization required under or issued pursuant to applicable Environmental Laws. 

    “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time, and any
      successor statute and the regulations promulgated and rulings issued thereunder. 

    “ERISA Affiliate” shall mean any person that for purposes of Title I or Title IV of ERISA or Section 412 of the
      Code would be deemed at any relevant time to be a “single employer” or otherwise aggregated with the Borrower or any of its Subsidiaries under Section 414(b), (c), (m) or (o) of the Code or Section 4001 of ERISA. 

    “ERISA Event” shall mean (i) any “reportable event” as defined in Section 4043 of ERISA with respect to a Plan
      (other than an event as to which the PBGC has waived under subsection .22, .23, .25, .27 or .28 of PBGC Regulation Section 4043 the requirement of Section 4043(a) of ERISA that it be notified of such event); (ii) any failure to make a required
      contribution to any Plan that would result in the imposition of a lien or other encumbrance or the provision of security under Section 430 of the Code or Section 303 or 4068 of ERISA, or the arising of such a lien or encumbrance, there being or
      arising any “unpaid minimum required contribution” or “accumulated funding deficiency” (as defined or otherwise set forth in Section 4971 of the Code or Part 3 of Subtitle B of Title 1 of ERISA), whether or not waived, or any filing of any request
      for or receipt of a minimum funding waiver under Section 412 of the Code or Section 303 of ERISA with respect to any Plan or Multiemployer Plan, or that such filing may be made, or any determination that any Plan is, or is expected to be, in at-risk
      status under Title IV of ERISA; (iii) any incurrence by the Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates of any liability under Title IV of ERISA with respect to any Plan or Multiemployer Plan (other than for premiums
      due and not delinquent under Section 4007 of ERISA); (iv) any institution of proceedings, or the occurrence of an event or condition which would reasonably be expected to constitute grounds for the institution of proceedings by the PBGC, under
      Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan; (v) any incurrence by the Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates of any liability with respect to the
      withdrawal or partial withdrawal from any Plan or Multiemployer Plan, or the receipt by the Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates of any notice that a Multiemployer Plan is in endangered or critical status
      under Section 305 of ERISA; (vi) any receipt by the Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates of any notice, or any receipt by any Multiemployer Plan from the Borrower, any of its Subsidiaries or any of their
      respective ERISA Affiliates 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;
      (vii) engaging in a non-exempt prohibited transaction within the meaning of Section 4975 of 

     

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   the Code or Section 406 of ERISA; or (viii) any filing of a notice of intent to terminate any Plan if such termination would require
    material additional contributions in order to be considered a standard termination within the meaning of Section 4041(b) of ERISA, any filing under Section 4041(c) of ERISA of a notice of intent to terminate any Plan, or the termination of any Plan
    under Section 4041(c) of ERISA. 

  “EU Bail-In Legislation Schedule” shall mean the EU Bail-In Legislation Schedule published by the Loan Market
    Association (or any successor Person), as in effect from time to time. 

  “Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising
    such Borrowing, bears interest at a rate determined by reference to the Adjusted LIBO Rate. 

  “Event of Default” shall have the meaning set forth in Section 8.1. 

  “Excepted Liens” shall mean: (i) Liens for Taxes, assessments or other governmental charges or levies which 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; (ii) Liens in connection with workers’ compensation, unemployment insurance or other social
    security, old age pension or public liability obligations which 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, other than any Lien
    imposed by ERISA; (iii) statutory landlord’s liens, operators’, vendors’, carriers’, warehousemen’s, repairmen’s, mechanics’, suppliers’, workers’, materialmen’s, construction or other like Liens, in each case, arising by operation of law in the
    ordinary course of business incident to the exploration, development, operation and maintenance of Oil and Gas Properties each of which is in respect of obligations that are not delinquent for a period of more than 30 days or which are being contested
    in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (iv) 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 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 of Governors of the Federal Reserve System and no such deposit account is intended by any Loan Party to provide collateral to the depository institution;
    (v) easements, restrictions, servitudes, permits, conditions, covenants, exceptions or reservations in any Property of any Loan Party for the purpose of roads, pipelines, transmission lines, transportation lines, distribution lines for the removal of
    gas, oil, coal or other minerals or timber, and other like purposes, or for the joint or common use of real estate, rights of way, facilities and equipment, that do not secure any monetary obligations and which in the aggregate do not materially impair
    the use of such Property for the purposes of which such Property is held by any Loan Party or materially impair the value of such Property subject thereto; (vi) Liens on cash or securities pledged to secure performance of tenders, surety and appeal
    bonds, government contracts, performance and return of money bonds, bids, trade contracts, leases, statutory obligations, regulatory obligations and other obligations of a like nature incurred in the ordinary course of business and customary
    reservations or retentions of title under agreements with suppliers entered into in the ordinary course of business; (vii) royalties, overriding royalties, net profits interests, production payments, reversionary interests, calls on production,
    preferential purchase rights and other burdens on or deductions from the proceeds of production, that do not secure Indebtedness for borrowed money and that are taken into account in the applicable reserve report computing the net revenue interests and
    working interests of the Loan Parties warranted in the Collateral Documents or in this Agreement; (ix) judgment and attachment Liens not giving rise to an Event of Default, provided that any appropriate legal proceedings which may have been
    duly initiated for the review of such judgment shall not have been finally terminated or the period within which such 

   

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  proceeding may be initiated shall not have expired and no action to enforce such Lien has been commenced; and (x) Liens arising under
    operating agreements, unitization and pooling agreements and orders, farmout agreements, gas balancing agreements, and other agreements, in each case that are customary in the oil, gas and mineral production business and that are entered into by any
    Loan Party in the ordinary course of business provided that (a) such Liens do not secure borrowed money, and (b) such Liens secure amounts that are not yet due or are being contested in good faith by appropriate proceedings, if such reserve as may be
    required by GAAP shall have been made therefor, (c) such Liens are limited to the assets that are the subject of such agreements and (d) such Liens do not materially impair the use of the Property covered thereby for the purposes for which such
    Property is held by any Loan Party or materially impair the value of such Property subject thereto; provided, further that (a) Liens described in clauses (i) through (iv) shall remain “Excepted Liens” under such clauses only for so long as no
    conclusive judgment to enforce such Lien has been determined by a court of competent jurisdiction to subordinate the first priority Lien granted in favor of the Administrative Agent and the Lenders hereby implied or expressed by the permitted existence
    of such Excepted Liens. 

  “Excess Cash” shall have the meaning set forth in Section 2.11(d). 

  “Excess Cash Payment” shall mean any payment contemplated by Section 2.11(d). 

  “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended and in effect from time to time. 

  “Excluded Swap Obligation” shall mean, with respect to any Guarantor, any Swap Obligation if, and to the extent
    that, all or a portion of the Guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule,
    regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the
    Commodity Exchange Act at the time the Guarantee of such Guarantor becomes effective with respect to such related Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the
    portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal. 

  “Excluded Taxes” shall mean 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 (other than pursuant to an assignment request by the Borrower under Section 2.23) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.19,
    amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure
    to comply with Section 2.19 and (d) any U.S. federal withholding Taxes imposed under FATCA. 

  “FATCA” shall mean 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 and any agreements entered into pursuant to Section 1471(b)(1) of the Code. 

   

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  “FCPA” shall mean the Foreign Corrupt Practices Act of 1977. 

  “Federal Flood Insurance” shall mean federally backed Flood Insurance available under the National Flood Insurance
    Program to owners of real property improvements located in Special Flood Hazard Areas in a community participating in the National Flood Insurance Program. 

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

  “FEMA” shall mean the Federal Emergency Management Agency, a component of the United States Department of Homeland
    Security that administers the National Flood Insurance Program. 

  “Fiscal Quarter” shall mean any fiscal quarter of the Borrower. “Fiscal Year” shall mean any fiscal year of
    the Borrower. 

  “Flood Insurance” shall mean, for any owned real property located in a Special Flood Hazard Area, Federal Flood
    Insurance or private insurance that meets or exceeds the requirements set forth by FEMA in its Mandatory Purchase of Flood Insurance Guidelines. Flood Insurance shall be in commercially reasonable amounts at least up to the maximum policy limits set
    under the National Flood Insurance Program, or as otherwise required by the Administrative Agent in its reasonable judgment, with deductibles not to exceed $250,000 for losses to buildings and $250,000 for losses to contents of buildings. 

  “Flood Insurance Laws” shall mean collectively, (a) the National Flood Insurance Reform Act of 1994 (which
    comprehensively revised the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973), as now or hereafter in effect or any successor statute thereto, (b) the Flood Insurance Reform Act of 2004, as now or hereafter in effect
    or any successor statute thereto and (c) the Biggert –Waters Flood Insurance Reform Act of 2012, as now or hereafter in effect of any successor statute thereto, in each case, together with all statutory and regulatory provisions consolidating,
    amending, replacing, supplementing, implementing or interpreting any of the foregoing, as amended or modified from time to time. 

  “Foreign Lender” shall mean (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the
    Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. 

  “GAAP” shall mean generally accepted accounting principles in the United States applied on a consistent basis and
    subject to the terms of Section 1.3. 

  “Governmental Authority” shall mean the government of the United States, 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 exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
    pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

   

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  “Guarantee” of or by any Person (the “guarantor”) shall mean 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, direct or indirect,
    of the guarantor (i) 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, (ii) 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, (iii) 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 (iv) as an account party in respect of any letter of credit or letter of guaranty issued in support of such Indebtedness or obligation;
    provided that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the primary
    obligation in respect of which such Guarantee is made or, if not so stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform thereunder) as determined by such Person in good
    faith. The term “Guarantee” used as a verb has a corresponding meaning. 

  “Guarantor” shall mean each of the Subsidiary Loan Parties. 

  “Guaranty and Security Agreement” shall mean the Guaranty and Security Agreement, dated as of the date hereof, made
    by the Loan Parties in favor of the Administrative Agent for the benefit of the Secured Parties, in form and substance satisfactory to the Administrative Agent. 

  “Hazardous Materials” shall mean all explosive or radioactive substances or wastes and all hazardous or toxic
    substances, wastes or other pollutants, including Hydrocarbons, petroleum or petroleum distillates, natural gas, oil, oil and gas waste, crude oil, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical
    wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law. 

  “Hedge Termination Value” shall mean, in respect of any one or more Hedging Transactions, after taking into account
    the effect of any legally enforceable netting agreement relating to such Hedging Transactions, (a) for any date on or after the date such Hedging Transactions 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 Hedging Transactions, as determined based upon one or more mid-market or other readily available
    quotations provided by any recognized dealer in such Hedging Transactions (which may include a Lender or any Affiliate of a Lender). 

  “Hedging Obligations” of any Person shall mean any and all obligations of such Person, whether absolute or
    contingent and howsoever and whensoever created, arising, evidenced or acquired under (i) any and all Hedging Transactions, (ii) any and all cancellations, buy backs, reversals, terminations or assignments of any Hedging Transactions and (iii) any and
    all renewals, extensions and modifications of any Hedging Transactions and any and all substitutions for any Hedging Transactions. 

  “Hedging Transaction” of any Person shall mean (a) any transaction (including an agreement with respect to any such
    transaction) now existing or hereafter entered into by such Person that is a rate swap transaction, swap option, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap or option, bond option, interest rate
    option, foreign 

   

  16 

   

  

  
     exchange transaction, cap transaction, floor transaction, collar transaction, currency swap transaction, cross-currency rate swap
      transaction, currency option, spot transaction, credit protection transaction, credit swap, credit default swap, credit default option, total return swap, credit spread transaction, repurchase transaction, reverse repurchase transaction,
      buy/sell-back transaction, securities lending transaction, or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof, whether or not any such transaction is governed by or subject to
      any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives
      Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under
      any Master Agreement. 

    “Hydrocarbon Interests” shall mean all rights, titles, interests and estates now or hereafter acquired in and to
      oil and gas leases, oil, gas and mineral leases, or other liquid or gaseous hydrocarbon leases, mineral fee interests, overriding royalty and royalty interests, net profit interests and production payment interests, including any reserved or residual
      interests of whatever nature. 

    “Hydrocarbons” shall mean oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate, distillate,
      liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom. 

    “Indebtedness” of any Person shall mean, without duplication, (i) all obligations of such Person for borrowed
      money, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person in respect of the deferred purchase price of property or services (other than trade payables incurred
      in the ordinary course of business; provided that, for purposes of Section 8.1(f), trade payables overdue by more than 120 days shall be included in this definition except to the extent that any of such trade payables
      are being disputed in good faith by appropriate measures and for which adequate reserves are being maintained in accordance with GAAP), (iv) all obligations of such Person under any conditional sale or other title retention agreement(s) relating to
      property acquired by such Person (other than customary reservations or retentions of title under agreements with suppliers entered into in the ordinary course of business), (v) all Capital Lease Obligations of such Person, (vi) all obligations,
      contingent or otherwise, of such Person in respect of letters of credit, acceptances or similar extensions of credit, (vii) all Guarantees of such Person of the type of Indebtedness described in clauses (i) through (vi) above, (viii) all Indebtedness
      of a third party to the extent such Indebtedness is secured by any Lien on property owned by such Person, whether or not such Indebtedness has been assumed by such Person, (ix) all obligations of such Person, contingent or otherwise, to purchase,
      redeem, retire or otherwise acquire for value any Capital Stock of such Person (other than any such obligations included in the Company Operating Agreement or in respect of Preferred Units), (x) all Off-Balance Sheet Liabilities, (xi) any obligations
      of such Person owing in connection with any volumetric or production prepayments or take-or-pay arrangements and (xii) all net Hedging Obligations, which for purposes hereof, the amount of any net Hedging Obligations on any date shall be deemed to be
      the Hedge Termination Value thereof as of such date. The Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture in which such Person is a general partner or a joint venture, but only to the extent to which there
      is recourse to such Person for the payment of such Indebtedness, except to the extent that the terms of such Indebtedness provide that such Person is not liable therefor. 

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

     

    17 

  

   

  

  “Initial Hedging Requirement” shall have the meaning set forth in Section 5.19. 

  “Initial Reserve Report” shall mean that certain Reserve Report prepared by Netherland, Sewell & Associates,
    Inc. dated as of May 31, 2017. 

  “Interest Period” shall mean with respect to any Eurodollar Borrowing, a period of one, two, three or six months
    (or, with the consent of each Lender, twelve months); as the Borrower may elect, provided that: 

  (i) the initial Interest Period for such Borrowing shall commence on the date of such Borrowing (including
    the date of any conversion from a Borrowing of another Type), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period expires; 

  (ii) if any Interest Period would otherwise end on a day other than a Business Day, such Interest Period
    shall be extended to the next succeeding Business Day, unless such Business Day falls in another calendar month, in which case such Interest Period would end on the next preceding Business Day; 

  (iii) any Interest Period which begins on the last Business Day of a calendar month or on a day for which
    there is no numerically corresponding day in the calendar month at the end of such Interest Period shall end on the last Business Day of the last calendar month of such Interest Period; and 

  (iv) no Interest Period may extend beyond the Commitment Termination Date. 

  “Interim Redetermination” has the meaning assigned such term in Section 2.4(b). 

  “Interim Redetermination Date” shall mean the date on which a Borrowing Base that has been redetermined pursuant to
    an Interim Redetermination becomes effective as provided in Section 2.4(d). 

  “Investments” shall have the meaning set forth in Section 7.4. 

  “IRS” shall mean the United States Internal Revenue Service. 

  “Issuing Bank” shall mean (i) SunTrust Bank in its capacity as the issuer of Letters of Credit pursuant to Section 2.21
    and (ii) any other Lender to the extent it has agreed in its sole discretion to act as an “Issuing Bank” hereunder and that has been approved in writing by the Borrower and the Administrative Agent as an “Issuing Bank” hereunder, in each case in its
    capacity as issuer of any Letter of Credit. As used herein, “the Issuing Bank” shall mean the applicable Issuing Bank, any Issuing Bank or all Issuing Banks, as the context may require. 

  “LC Commitment” shall mean that portion of the Aggregate Commitments that may be used by the Borrower for the
    issuance of Letters of Credit in an aggregate face amount not to exceed $10,000,000. 

  “LC Disbursement” shall mean a payment made by the Issuing Bank pursuant to a Letter of Credit. 

  “LC Documents” shall mean all applications, agreements and instruments relating to the Letters of Credit but
    excluding the Letters of Credit. 

   

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    “LC Exposure” shall mean, at any time, the sum of (i) the aggregate undrawn amount of all outstanding Letters of
      Credit at such time, plus (ii) the aggregate amount of all LC Disbursements that have not been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender shall be its Pro Rata Share of the total LC Exposure at such
      time, subject to Section 2.24 hereof. 

    “Lender-Related Hedge Provider” shall mean any Person that, at the time it enters into a Hedging Transaction with
      any Loan Party, (i) is a Lender or an Affiliate of a Lender and (ii) except when the Lender-Related Hedge Provider is SunTrust Bank or any of its Affiliates, has provided prior written notice to the Administrative Agent which has been acknowledged by
      the Borrower of (x) the existence of such Hedging Transaction and (y) the methodology to be used by such parties in determining the obligations under such Hedging Transaction from time to time. In no event shall any Lender-Related Hedge Provider
      acting in such capacity be deemed a Lender for purposes hereof to the extent of and as to Hedging Obligations except that each reference to the term “Lender” in Article IX and Section 10.3(b) shall be deemed to include
      such Lender-Related Hedge Provider. In no event shall the approval of any such Person in its capacity as Lender-Related Hedge Provider be required in connection with the release or termination of any security interest or Lien of the Administrative
      Agent. 

    “Lenders” shall have the meaning set forth in the introductory paragraph hereof. 

    “Letter of Credit” shall mean any stand-by letter of credit issued pursuant to Section 2.21
      by the Issuing Bank for the account of the Borrower pursuant to the LC Commitment. 

    “Leverage Ratio” shall mean, as of the last day of any fiscal quarter, the ratio of (i) an amount equal to
      Applicable Consolidated Total Debt as of the last day of such fiscal quarter to (ii) Consolidated EBITDAX for the four consecutive Fiscal Quarters ending on or immediately prior to such date for which financial statements are required to have been
      delivered under this Agreement; provided that for the purposes of the definition of “Leverage Ratio”, (a) for the Fiscal Quarter ending September 30, 2017, Consolidated EBITDAX will be calculated by multiplying Consolidated EBITDAX for the two Fiscal
      Quarter period ending on September 30, 2017 by two, (b) for the Fiscal Quarter ending December 31, 2017, Consolidated EBITDAX will be calculated by multiplying Consolidated EBITDAX for the three Fiscal Quarter period ending on December 31, 2017 by
      four-thirds, and (c) for each Fiscal Quarter thereafter, Consolidated EBITDAX will be calculated by adding Consolidated EBITDAX for the four consecutive Fiscal Quarters ending on such date. 

    “Lien” shall mean any mortgage, pledge, security interest, lien (statutory or otherwise), charge, encumbrance,
      hypothecation, assignment, deposit arrangement, or other arrangement having the practical effect of any of the foregoing, or any preference, priority or other security agreement or preferential arrangement (other than Preferred Units), of any kind or
      nature whatsoever (including any conditional sale or other title retention agreement and any Capital Lease having the same economic effect as any of the foregoing). 

    “Loan Documents” shall mean, collectively, this Agreement, the Collateral Documents, the LC Documents, all Notices
      of Borrowing, all Notices of Conversion/Continuation, all Compliance Certificates, any promissory notes issued hereunder and any and all other instruments, agreements, documents and writings executed in connection with any of the foregoing. 

    “Loan Parties” shall mean the Borrower and the Subsidiary Loan Parties. 

    “Loans” shall mean all loans in the aggregate or any of them, as the context may require, made by a Lender to the
      Borrower under its Commitment, which may either be Base Rate Loans or Eurodollar Loans. 

     

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  “Material Adverse Effect” shall mean any material adverse change in, or a material adverse effect on, (i) the
    business, results of operations, financial condition or assets of the Borrower and its Subsidiaries taken as a whole, (ii) the ability of the Borrower to perform its obligations under the Loan Documents, (ii) the ability of the Loan Parties (other than
    the Borrower), as a whole, to perform their obligations under the Loan Documents, (iii) the rights and remedies of the Administrative Agent, the Issuing Bank or the Lenders under any of the Loan Documents or (iv) the legality, validity or
    enforceability against any Loan Party of any of the Loan Documents to which it is a party. 

  “Material Agreements” shall mean (a) (i) all agreements, indentures or notes governing the terms of any Material
    Indebtedness and (ii) all employment and non-compete agreements with management and (b) (i) all agreements, instruments and conveyances relating to Hydrocarbon Interests, and (ii) all other agreements, documents, contracts, indentures and instruments
    pursuant to which, in the case of clauses (b)(i) and (b)(ii), (A) any Loan Party or any of its Subsidiaries are obligated to make payments in any twelve month period of $1,000,000 or more, (B) any Loan Party or any of its Subsidiaries expects to
    receive revenue in any twelve month period of $1,000,000 or more and (C) a default, breach or termination thereof could reasonably be expected to result in a Material Adverse Effect. 

  “Material Indebtedness” shall mean any Indebtedness (other than the Loans and the Letters of Credit, or Indebtedness
    describe in section (b) of the definition of Bank Products) of the Borrower or any of its Subsidiaries individually or in an aggregate committed or outstanding principal amount exceeding $1,000,000.00. For purposes of determining the amount of
    attributed Indebtedness from Hedging Obligations, the “principal amount” of any Hedging Obligations at any time shall be the Net Mark-to-Market Exposure of such Hedging Obligations. 

  “Maximum Loan Amount” shall mean as to each Lender, such Lender’s Pro Rata share of the Aggregate Maximum Loan
    Amount,” as such commitment may be (i) modified from time to time pursuant to Section 2.4 or Section 2.7 and (ii) modified from time to time pursuant to assignments by or to such Lender pursuant to Section 10.4.
  

  “Moody’s” shall mean Moody’s Investors Service, Inc. 

  “Mortgaged Property” shall mean any Property owned by any Loan Party which is subject to the Liens existing and to
    exist under the terms of the Mortgages. 

  “Mortgages” shall mean each mortgage or deed of trust delivered by any Loan Party to the Administrative Agent from
    time to time, all in form and substance satisfactory to the Administrative Agent. 

  “Multiemployer Plan” shall mean any “multiemployer plan” as defined in Section 4001(a)(3) of ERISA, which is
    contributed to by (or to which there is or may be an obligation to contribute of) the Borrower, any of its Subsidiaries or an ERISA Affiliate, and each such plan for the five- year period immediately following
    the latest date on which the Borrower, any of its Subsidiaries or an ERISA Affiliate contributed to or had an obligation to contribute to such plan. 

  “National Flood Insurance Program” shall mean the program created by the United States Congress pursuant to the
    Flood Insurance Laws, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a federal insurance program. 

   

  20 

   

  

  “Net Mark-to-Market Exposure” of any Person shall mean, as of any date of determination with respect to any Hedging
    Obligation, the excess (if any) of all unrealized losses over all unrealized profits of such Person arising from such Hedging Obligation. “Unrealized losses” shall mean the fair market value of the cost to such Person of replacing the Hedging
    Transaction giving rise to such Hedging Obligation as of the date of determination (assuming such Hedging Transaction were to be terminated as of that date), and “unrealized profits” shall mean the fair market value of the gain to such Person of
    replacing such Hedging Transaction as of the date of determination (assuming such Hedging Transaction were to be terminated as of that date). 

  “New Borrowing Base Notice” has the meaning assigned such term in Section 2.4(d). 

  “Non-Defaulting Lender” shall mean, at any time, a Lender that is not a Defaulting Lender. 

  “Non-U.S. Plan” shall mean any plan, fund (including, without limitation, any superannuation fund) or other similar
    program established, contributed to (regardless of whether through direct contributions or through employee withholding) or maintained outside the United States by the Borrower or one or more of its Subsidiaries primarily for the benefit of employees
    of the Borrower or such Subsidiaries residing outside the United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement, or payments to be made upon termination
    of employment, and which plan is not subject to ERISA or the Code. 

  “Notice of Conversion/Continuation” shall have the meaning set forth in Section 2.6(b).
  

  “Notices of Borrowing” shall have the meaning set forth in Section 2.3. 

  “Oakspring Operations Agreement” shall mean, collectively, that certain Contract Operating Agreement between Riley
    Permian Operating Company, LLC and Oakspring Energy Holdings, LLC, dated September 1, 2017 and that certain Model Form Operating Agreement (1989) dated January 1, 2016 by and between Riley Exploration Operating Company, LLC and Oakspring Energy
    Holdings, LLC, and the schedules and exhibits thereto, in each case, as amended from time to time in a manner not adverse to the interest of the Administrative Agent and each Lender in their capacity as Administrative Agent or Lender. 

  “Oakspring Options Agreement” shall mean that certain Option Agreement, dated September 1, 2017, by and between the
    Borrower and Oakspring Energy Holdings, LLC, relating to the Borrower’s option to purchase certain interests from Oakspring Energy Holdings, LLC, as amended from time to time in a manner not adverse to the interest of the Administrative Agent and each
    Lender in their capacity as Administrative Agent or Lender. 

  “Obligations” shall mean (a) all amounts owing by the Loan Parties to the Administrative Agent, the Issuing Bank,
    any Lender or the Sole Lead Arranger pursuant to this Agreement, any other Loan Document or any Loan or Letter of Credit under the terms thereof, including to the extent provided therein, without limitation, all principal, interest (including any
    interest accruing after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or like proceeding relating to any Loan Party, whether or not a claim for post-filing or post-petition interest is allowed in such
    proceeding), reimbursement obligations, fees, expenses, indemnification and reimbursement payments, costs and expenses (including all reasonable fees and expenses of counsel to the Administrative Agent, the Issuing Bank and, if applicable, any Lender,
    in each case due and owing by the Borrower as provided under the terms of this Agreement or any other Loan Document), whether direct or indirect, absolute or contingent, liquidated or unliquidated, now existing or hereafter arising hereunder or
    thereunder, (b) all Hedging Obligations owed by any Loan Party to any Lender-Related Hedge Provider, and (c) all Bank Product Obligations, together with all renewals, extensions, modifications or refinancings of any of the foregoing; provided,
    however, that (i) with respect to any Guarantor, the Obligations shall not include any Excluded Swap Obligations and (ii)(A) if any Lender-Related Hedge Provider assigns or otherwise 

   

  21 

   

  

  
    transfers any interest held by it under any Hedging Transaction to any other Person pursuant to the terms of such agreement, the
      obligations thereunder shall constitute obligations only if such assignee or transferee is also then a Lender or an Affiliate of a Lender and (B) if a Lender-Related Hedge Provider ceases to be a Lender hereunder or an Affiliate of a Lender
      hereunder, obligations owing to such Lender- Related Hedge Provider shall be included as obligations only to the extent such obligations arise from transactions under such individual Hedging Transactions
      entered into at the time such Lender-Related Hedge Provider was a Lender hereunder or an Affiliate of a Lender, without giving effect to any extension, increases, or modifications thereof which are made after such Lender-Related Hedge Provider ceases
      to be a Lender hereunder or an Affiliate of a Lender hereunder. 

    “OFAC” shall mean the U.S. Department of the Treasury’s Office of Foreign Assets Control. 

    “Off-Balance Sheet Liabilities” of any Person shall mean (i) any repurchase obligation or liability of such Person
      with respect to accounts or notes receivable sold by such Person, (ii) any liability of such Person under any sale and leaseback transactions that do not create a liability on the balance sheet of such Person, (iii) any Synthetic Lease Obligation 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 sheet of such Person. 

    “Oil and Gas Properties” shall mean (i) Hydrocarbon Interests; (ii) the Properties now or hereafter pooled or
      unitized with Hydrocarbon Interests; (iii) all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created thereby (including without limitation all units created under orders, regulations and
      rules of any Governmental Authority) which may affect all or any portion of the Hydrocarbon Interests; (iv) all operating agreements, contracts and other agreements, including production sharing contracts and agreements, which relate to any of the
      Hydrocarbon Interests or the production, sale, purchase, exchange or processing of Hydrocarbons from or attributable to such Hydrocarbon Interests; (v) all Hydrocarbons in and under and which may be produced and saved or attributable to the
      Hydrocarbon Interests, including all oil in tanks, and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; (vi) all tenements, hereditaments, appurtenances and Properties in
      any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests and (vii) all Properties, rights, titles, interests and estates described or referred to above, including any and all Property, real or personal, now owned or
      hereinafter 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 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. 

    “OSHA” shall mean the Occupational Safety and Health Act of 1970, as amended from time to time, and any successor
      statute. 

    “Other Connection Taxes” shall mean, 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). 

     

    22 

  

   

  

  “Other Taxes” shall mean 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 (other than an assignment made pursuant to Section 2.23). 

  “Parent Company” shall mean, with respect to a Lender, the “bank holding company” as defined in Regulation Y, if
    any, of such Lender, and/or any Person owning, beneficially or of record, directly or indirectly, a majority of the shares of such Lender. 

  “Participant” shall have the meaning set forth in Section 10.4(d). 

  “Participant Register” shall have the meaning set forth in Section 10.4(d). 

  “Patriot Act” shall mean the USA PATRIOT Improvement and Reauthorization Act of 2005 (Pub. L. 109-177 (signed into
    law March 9, 2006)), as amended and in effect from time to time. 

  “Payment Office” shall mean the office of the Administrative Agent located at 3333 Peachtree Street, N.E., Atlanta,
    Georgia 30326, or such other location as to which the Administrative Agent shall have given written notice to the Borrower and the other Lenders. 

  “PBGC” shall mean the U.S. Pension Benefit Guaranty Corporation referred to and defined in ERISA, and any successor
    entity performing similar functions. 

  “Permitted Investments” shall mean: 

  (i) direct obligations of, or obligations the principal of and interest on which are unconditionally
    guaranteed by, the United States (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States), in each case maturing within one year from the date of acquisition thereof; 

  (ii) commercial paper having the highest rating, at the time of acquisition thereof, of S&P or Moody’s
    and in either case maturing within six months from the date of acquisition thereof; 

  (iii) certificates of deposit, bankers’ acceptances and time deposits maturing within 180 days of the date
    of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of the United States or any state thereof which has a combined
    capital and surplus and undivided profits of not less than $500,000,000; 

  (iv) fully collateralized repurchase agreements with a term of not more than 30 days for securities
    described in clause (i) above and entered into with a financial institution satisfying the criteria described in clause (iii) above; and 

  (v) mutual funds investing solely in any one or more of the Permitted Investments described in clauses
    (i) through (iv) above. 

  “Permitted Investors” shall mean Yorktown Funds, Bluescape Riley Exploration Acquisition LLC, a Delaware limited
    liability company, Bluescape Riley Exploration Holdings LLC, a Delaware limited liability company, REG, Stephen Dernick, an individual, Robert G. Dernick, an individual, Dennis W. Bartoskewitz, an individual, Alan C. Buckner, an individual, Christopher
    M. Bearrow, an individual, and Boomer Petroleum, LLC, a Delaware limited liability company. 

   

  23 

   

  

  “Permitted Tax Distributions” shall mean Restricted Payments in the form of cash distributions made by the Borrower
    to each holder of its Capital Stock in any tax year or portion thereof in which the Borrower is a pass-through entity, on an quarterly basis (“Tax Distributions”) in accordance with the provisions of the Company Operating Agreement, in an aggregate
    amount such that each such holder of the Borrower’s Capital Stock receives an amount of Restricted Payments necessary to enable such holder (and its direct and indirect owners) to pay its U.S. federal, state and/or local and non-U.S. income taxes (as
    applicable) attributable to its direct or indirect ownership of the Borrower with respect to such tax year or portion thereof; provided that the aggregate amount of such Tax Distributions, with respect to a taxable year, does not exceed an
    amount equal to the Borrower’s good faith estimate of the Applicable Tax (as hereinafter defined) with respect to such taxable period, to the extent necessary so that the amount distributed under this definition equals the product of (i) the sum of all
    items of taxable income or gain recognized by the Borrower for such     period less all items of deduction and loss (excluding, for the avoidance of doubt, items attributable to adjustments under Section 734 or Section 743 of the Code) recognized by
    the Borrower for such period and (ii) the then highest combined U.S. federal, and state marginal rate applicable to an individual residing in the state of New York (taking into account the character of the taxable income (e.g. long term capital gain,
    qualified dividend income, ordinary income, etc.)) (such amount, the “Applicable Tax”); provided, however, the computation of Tax Distributions under this definition shall take into account the carryovers of items of deduction and loss
    previously allocated by the Borrower to each holder of its Capital Stock, such that the excess, if any, of the aggregate items of losses or deductions from the prior taxable year over aggregate items of income from the prior taxable year will be
    deducted from the current taxable year’s income before applying the appropriate tax rate. In the event Permitted Tax Distributions made for any taxable year exceed the actual amount allowed for Permitted Tax Distributions for such year, subsequent
    Permitted Tax Distributions shall be reduced by the amount of such excess. 

  “Person” shall mean any individual, partnership, firm, corporation, association, joint venture, limited liability
    company, trust or other entity, or any Governmental Authority. 

  “Plan” shall mean any “employee benefit plan” as defined in Section 3 of ERISA (other than a Multiemployer Plan)
    maintained or contributed to by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate has or may have an obligation to contribute, and each such plan that is subject to Title IV of ERISA for the five-year period
    immediately following the latest date on which the Borrower or any ERISA Affiliate maintained, contributed to or had an obligation to contribute to (or is deemed under Section 4069 of ERISA to have maintained or contributed to or to have had an
    obligation to contribute to, or otherwise to have liability with respect to) such plan. 

  “Platform” shall mean Debt Domain, Intralinks, SyndTrak or a substantially similar electronic transmission system. 

  “Preferred Units” shall mean those certain Series A Preferred Units of the Borrower as of the date hereof, and other
    preferred units or Capital Stock of the Borrower which may be issued from time to time to fund the acquisition of Oil and Gas Properties as contemplated by Section 2.11, and for other general corporate purposes (including such
    Capital Stock convertible, exchangeable, exerciseable or issuable pursuant to the terms of such Preferred Units). 

  “Pro Forma Basis” shall mean, (i) with respect to any Person, business, property or asset acquired in an acquisition
    permitted under Section 7.4, the inclusion as “Consolidated EBITDAX” of the EBITDAX (i.e. net income before interest, taxes, depreciation and amortization) for such Person, 

   

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  business, property or asset as if such acquisition had been consummated on the first day of the applicable period, based on
    historical results accounted for in accordance with GAAP, and (ii) with respect to any Person, business, property or asset sold, transferred or otherwise disposed of, the exclusion from “Consolidated EBITDAX” of the EBITDAX (i.e. net income before
    interest, taxes, depreciation and amortization) for such Person, business, property or asset so disposed of during such period as if such disposition had been consummated on the first day of the applicable period, in accordance with GAAP. 

  “Pro Rata Share” shall mean with respect to any Commitment or Loan of any Lender at any time, a percentage, the
    numerator of which shall be such Lender’s Commitment (or if such Commitment has been terminated or expired or the Loans have been declared to be due and payable, such Lender’s Credit Exposure), and the denominator of which shall be the sum of all
    Commitments of all Lenders (or if such Commitments have been terminated or expired or the Loans have been declared to be due and payable, all Credit Exposure of all Lenders). 

  “Property” shall mean 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. 

  “Proposed Borrowing Base” shall mean any Borrowing Base proposed by the Administrative Agent pursuant to Section 2.4(c)(i).
  

  “Proposed Borrowing Base Notice” has the meaning assigned to such term in Section2.4(c)(ii). 

  “Qualified ECP Guarantor” shall mean, in respect of any Hedging Transaction, each Loan Party that (i) has total
    assets exceeding $10,000,000 at the time any guaranty of obligations under such Hedging Transaction or grant of the relevant security interest becomes effective or (ii) otherwise constitutes an “eligible contract participant” under the Commodity
    Exchange Act or any regulations promulgated thereunder and can cause another Person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

  “Qualified IPO” shall mean an underwritten primary public offering (other than a public offering pursuant to a
    registration statement on Form S-8) (or any successor form) of the Capital Stock of the Borrower or any direct or indirect holding company of the Borrower of its common Capital Stock pursuant to an effective registration statement filed with the
    Securities and Exchange Commission in accordance with the Securities Act of 1933, as amended (whether alone or in conjunction with a secondary public offering). 

  “Recipient” shall mean, as applicable, (a) the Administrative Agent, (b) any Lender and (c) the Issuing Bank. 

  “Redetermination Date” shall mean, with respect to any Scheduled Redetermination or any Interim Redetermination, the
    date that the redetermined Borrowing Base related thereto becomes effective pursuant to Section 2.4(d). 

  “REG” shall mean Riley Exploration Group, Inc., a Delaware corporation. 

  “Regulation D” shall mean Regulation D of the Board of Governors of the Federal Reserve System, as the same may be
    in effect from time to time, and any successor regulations. 

  “Regulation T” shall mean Regulation T of the Board of Governors of the Federal Reserve System, as the same may be
    in effect from time to time, and any successor regulations. 

   

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    “Regulation U” shall mean Regulation U of the Board of Governors of the Federal Reserve System, as the same may be
      in effect from time to time, and any successor regulations. 

    “Regulation X” shall mean Regulation X of the Board of Governors of the Federal Reserve System, as the same may be
      in effect from time to time, and any successor regulations. 

    “Regulation Y” shall mean Regulation Y of the Board of Governors of the Federal Reserve System, as the same may be
      in effect from time to time, and any successor regulations. 

    “Related Parties” shall mean, with respect to any specified Person, such Person’s Affiliates and the respective
      partners, directors, officers, employees, agents or advisors of such Person and such Person’s Affiliates. 

    “Release” shall have the meanings specified in CERCLA or under any other Environmental Law. 

    “Remedial Work” shall have the meaning assigned to such term in Section 5.17(a). 

    “Required Lenders” shall mean, (i) at any time there are three or fewer Lenders under this Agreement, two or more
      Lenders holding more than 66-2/3% of the aggregate outstanding Commitments at such time or, if the Lenders have no Commitments outstanding, then two or more Lenders holding more than 66-2/3% of the aggregate outstanding Credit Exposure of the Lenders
      at such time and (ii) at any time there are greater than three Lenders under this Agreement, (a) with respect to approval of a decrease or maintenance of the Borrowing Base, Lenders holding more than 66-2/3% of the aggregate outstanding Commitments
      at such time or, if the Lenders have no Commitments outstanding, Lenders holding more than 66-2/3% of the aggregate outstanding Credit Exposure of the Lenders at such time and (b) with respect to all other approvals requiring the consent of the
      Required Lenders, Lenders holding more than 50% of the aggregate outstanding Commitments at such time or, if the Lenders have no Commitments outstanding, Lenders holding more than 50% of the aggregate outstanding Credit Exposure of the Lenders at
      such time; provided that to the extent that any Lender is a Defaulting Lender, such Defaulting Lender and all of its Commitments and Credit Exposure shall be excluded for purposes of determining Required Lenders. 

    “Requirement of Law” for any Person shall mean the articles or certificate of incorporation, bylaws, partnership
      certificate and agreement, or limited liability company certificate of organization and agreement, as the case may be, and other organizational and governing documents of such Person, and any law, treaty, rule or regulation, or determination of a
      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” shall mean a report, in form and substance reasonably satisfactory to the Administrative Agent,
      setting forth, as of the dates set forth in Section 5.13(a) (or such other date in the event of an Interim Redetermination or any other redetermination provided for herein (other than a Scheduled Redetermination)) the oil and
      gas reserves attributable to the proved Oil and Gas Properties of the Loan Parties (or to be acquired by the Loan Parties) which are or are to be included in the Borrowing Base, together with (a) a projection of the rate of production of such proved
      Oil and Gas Properties, and (b) future net income, taxes, operating expenses and capital expenditures with respect thereto as of such date, based upon the pricing assumptions consistent with SEC reporting requirements at the time and reflecting
      Hedging Transactions in place with respect to such production. 

     

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  “Responsible Officer” shall mean (x) with respect to certifying compliance with the financial covenants set forth in
    Article VI, the chief financial officer or the treasurer of the Borrower and (y) with respect to all other provisions, any of the president, the chief executive officer, the chief operating officer, the chief financial officer, the treasurer or
    a vice president of the Borrower or such other representative of the Borrower as may be designated in writing by any one of the foregoing with the consent of the Administrative Agent. 

  “Restricted Payment” shall mean, for any Person, any dividend or distribution on any class of its Capital Stock, or
    any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, retirement, defeasance or other acquisition of any shares of its Capital Stock, or any shares or securities representing any
    Indebtedness subordinated to the Obligations or any Guarantee thereof (except in each case as permitted by Section 7.1 hereof), or any options, warrants or other rights to purchase such Capital Stock or such Indebtedness, whether
    now or hereafter outstanding; provided, however, a Restricted Payment shall not include any payment-in-kind or similar non-cash distribution of Capital Stock pursuant to the terms of any preference Capital Stock of the Borrower, including the
    Borrower’s Preferred Units. 

  “S&P” shall mean Standard & Poor’s, a Standard & Poor’s Financial Services LLC business. 

  “Sanctioned Country” shall mean a country subject to a sanctions program identified on the list maintained by OFAC
    and available at http://www.treasury.gov/resource-center/s
    anctions/Pages/ default.aspx, or as otherwise published from time to time. 

  “Sanctioned Person” shall mean (i) a Person named on the list of “Specially Designated Nationals and Blocked
    Persons” maintained by OFAC available at http://www.treasury.gov/resource-
    center/sanctions/SDN-List/Pages/default.aspx, or as otherwise published from time to time, or (ii) (A) an agency of the government of a Sanctioned Country, (B) an organization owned or controlled by a Sanctioned
    Country, or (C) a person located, organized or resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC. 

  “Scheduled Redetermination” has the meaning assigned such term in Section 2.4(b). 

  “Scheduled Redetermination Date” shall mean the date on which a Borrowing Base that has been redetermined pursuant
    to a Scheduled Redetermination becomes effective as provided in Section 2.4(d). 

  “Secured Parties” shall mean the Administrative Agent, the Lenders, the Issuing Bank, the Lender-Related Hedge
    Providers and the Bank Product Providers. 

  “Sole Lead Arranger” shall mean SunTrust Robinson Humphrey, Inc., in its capacity as sole lead arranger in
    connection with this Agreement. 

  “Solvent” shall mean, with respect to any Person on a particular date, that on such date (a) the fair value of the
    property of such Person is greater than the total amount of liabilities, including subordinated and 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 and liabilities, including subordinated and contingent liabilities as they become absolute and matured; (c) 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 (d) such Person is not engaged in a business or transaction, and is not about to engage in a business or transaction, for which such Person’s property
    would constitute an unreasonably small capital.The amount of contingent liabilities (such as litigation, guaranties and pension plan liabilities) at any time shall be computed as the amount that, in light of all the facts and circumstances existing at
    the time, represents the amount that would reasonably be expected to become an actual or matured liability as of that date. 

   

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    “Special Flood Hazard Area” shall mean an area that FEMA’s current flood maps indicate has at least a one percent
      (1%) chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year. 

    “Stated Termination Date” shall mean September 28, 2021. 

    “Subsidiary” shall mean, with respect to any Person (the “parent”) at any date, any corporation,
      partnership, joint venture, limited liability company, association or other entity 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 corporation, partnership, joint venture, limited liability company, association or other entity (i) of which securities or other ownership interests 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 (ii) 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 otherwise indicated, all references to “Subsidiary” hereunder shall mean a Subsidiary of the Borrower. 

    “Subsidiary Loan Party” shall mean any Subsidiary that executes or becomes a party to the Guaranty and Security
      Agreement. 

    “Swap Obligation” shall mean, with respect to any Guarantor, any obligation to pay or perform under any agreement,
      contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 

    “Synthetic Lease” shall mean a lease transaction under which the parties intend that (i) the lease will be treated
      as an “operating lease” by the lessee pursuant to Accounting Standards Codification Sections 840-10 and 840-20, as amended, and (ii) the lessee will be entitled to various tax and other benefits ordinarily available to owners (as opposed to lessees)
      of like property. 

    “Synthetic Lease Obligations” shall mean, with respect to any Person, the sum of (i) all remaining rental
      obligations of such Person as lessee under Synthetic Leases which are attributable to principal and, without duplication, (ii) all rental and purchase price payment obligations of such Person under such Synthetic Leases assuming such Person exercises
      the option to purchase the lease property at the end of the lease term. 

    “Tax Amount” shall mean, for any period, the Taxable Income attributable to the operations of the Loan Parties
      that are partnerships or disregarded entities for United States federal income tax purposes allocable to the direct or indirect owners of the Borrower multiplied by the highest marginal federal, state and local income tax rate for corporations
      resident in New York, New York in effect for the year or other period. 

    “Taxable Income” shall mean, with respect to any Person for any period, the taxable income or loss of such Person
      for such period for federal and applicable state and local income tax purposes; provided that, in any Loan Party is a partnership for United States federal income tax purposes, (a) all items of income, gain, loss or deduction of such Person
      required to be stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss, (b) any basis adjustment made in connection with an election under Section 754 of the Code with respect to such Person shall be
      disregarded and (c) such taxable income shall be increased or such taxable loss shall be decreased by the amount of any interest expense incurred by such Person that is not treated as deductible for federal income tax purposes by a partner or member
      of such Person. 

     

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    “Taxes” shall mean any and 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. 

    “Trading with the Enemy Act” shall mean the Trading with the Enemy Act of the United States of America (50 U.S.C.
      App. §§ 1 et seq.), as amended and in effect from time to time. 

    “Transfer Letters” shall mean, collectively, the letters in lieu of transfer orders in form and substance
      satisfactory to the Administrative Agent and executed by the Borrower or any Subsidiary executing a Mortgage. 

    “Triggering Event” shall mean (a) the sale or disposition of proved Oil and Gas Properties of the Borrower or any
      Subsidiary that have a positive value in the most recently delivered Reserve Report or in the Reserve Report evaluated for the then effective Borrowing Base, and (b) the novation or assignment (unless novated or assigned to a counterparty with equal
      or better creditworthiness), unwinding or termination (unless replaced with positions or contracts no less advantageous to the Borrower or the Subsidiary party thereto), or amendment (if such amendment is materially adverse to the Borrower or the
      Subsidiary party thereto) of a hedge position or Hedging Transaction considered by the Administrative Agent in determining the then effective Borrowing Base; provided, in either such case, after giving effect to such event, results in the aggregate
      amount of all such events (the value of such proved Oil and Gas Properties subject to such sale or disposition, and the value of such hedge position or Hedging Transaction subject to any such event, to be determined pursuant to Section 2.4(b))
      since the most recent redetermination of the Borrowing Base (or during the time period from the Closing Date to the first redetermination of the Borrowing Base, since the Closing Date) exceeding 5% of the Borrowing Base then in effect. 

    “Triggering Event Proceeds” shall have the meaning set forth in Section 2.11(b). 

    “Type”, when used in reference to a Loan or a Borrowing, refers to whether the rate of interest on such Loan, or
      on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Base Rate. 

    “Unfunded Pension Liability” of any Plan shall mean the amount, if any, by which the value of the accumulated plan
      benefits under the Plan, determined on a plan termination basis in accordance with actuarial assumptions at such time consistent with those prescribed by the PBGC for purposes of Section 4044 of ERISA, exceeds the fair market value of all Plan assets
      allocable to such liabilities under Title IV of ERISA (excluding any accrued but unpaid contributions). 

    “Uniform Commercial Code” or “UCC” shall mean the Uniform Commercial Code as in effect from time to time in
      the State of Texas. 

    “United States” or “U.S.” shall mean the United States of America. 

    “U.S. Borrower ” shall mean any Borrower that is a U.S. Person. 

    “U.S. Person” shall mean any Person that is a “United States person” as defined in Section 7701(a)(30) of the
      Code. 

     

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    “U.S. Tax Compliance Certificate” shall have the meaning set forth in Section 2.19(g)(ii)(B)(iii).
    

    “Withdrawal Liability” shall mean 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” shall mean the Borrower, any other Loan Party or the Administrative Agent, as applicable. 

    “Write-Down and Conversion Powers” shall mean, with respect to any EEA Resolution Authority, the write-down and
      conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

    “Yorktown Funds” shall mean, collectively, (a) REG and the Co-Invest Funds, (b) Yorktown Energy Partners XI, L.P.,
      a Delaware limited partnership, and (c) any other “fund” (other than the Co-Invest Funds) with the same general partner as the Person listed in clause (b). 

    “Yorktown Group Member” shall mean the Yorktown Funds, their limited partners, and each of their Affiliates. 

    Section 1.2. Classifications of Loans and Borrowings. For purposes of
      this Agreement, Loans may be classified and referred to by Type (e.g. “Eurodollar Loan” or “Base Rate Loan”). Borrowings also may be classified and referred to by Type (e.g. “Eurodollar Borrowing”). 

    Section 1.3. Accounting Terms and Determination. Unless otherwise
      defined or specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as
      in effect from time to time, applied on a basis consistent with the most recent audited consolidated financial statement of the Borrower delivered pursuant to Section 5.1(a); provided that if the Borrower notifies the
      Administrative Agent that the Borrower wishes to amend any covenant in Article VI to eliminate the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies the Borrower that the Required Lenders
      wish to amend Article VI for such purpose), then the Borrower’s compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is
      withdrawn or such covenant is amended in a manner satisfactory to the Borrower and the Required Lenders. 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 Accounting Standards Codification Section 825-10 (or any other Financial Accounting Standard having a similar result or effect) to value
      any Indebtedness or other liabilities of any Loan Party or any Subsidiary of any Loan Party at “fair value”, as defined therein. 

    Section 1.4. 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”. In the computation of periods of time from a specified date to a later specified date, the word “from”
      means “from and including” and the word “to” means “to but excluding”. Unless the context requires otherwise (i) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, 

     

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    instrument or other document as it was originally executed or as it may from time to time be amended, restated, supplemented or otherwise
      modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (ii) any reference herein to any Person shall be construed to include such Person’s successors and permitted assigns, (iii) the words “hereof”,
      “herein” and “hereunder” and words of similar import shall be construed to refer to this Agreement as a whole and not to any particular provision hereof, (iv) all references to Articles, Sections, Exhibits and Schedules shall be construed to refer to
      Articles, Sections, Exhibits and Schedules to this Agreement, (v) all references to a specific time shall be construed to refer to the time in the city and state of the Administrative Agent’s principal office, unless otherwise indicated, and (vi) any
      reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as
      amended, modified or supplemented from time to time. References to “proved” in respect of Oil and Gas Properties herein shall mean, at any particular time, Oil and Gas Properties classified as “Proved Reserves” as defined in the 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. 

    Section 1.5. Time of Day. Unless otherwise specified, all references herein to time
      of day shall be references to Central time (daylight or standard, as applicable). 

    ARTICLE II 

    AMOUNT AND TERMS OF THE COMMITMENTS 

    Section 2.1. General Description of Facility. Subject to and upon the
      terms and conditions herein set forth, (i) the Lenders hereby establish in favor of the Borrower a revolving credit facility pursuant to which each Lender severally agrees (to the extent of such Lender’s Commitment) to make Loans to the Borrower in
      accordance with Section 2.2; (ii) the Issuing Bank may issue Letters of Credit in accordance with Section 2.21; and (iii) each Lender agrees to purchase a participation interest in the Letters of Credit
      pursuant to the terms and conditions hereof; provided that in no event shall the aggregate principal amount of all outstanding Loans and outstanding LC Exposure exceed the Aggregate Commitment Amount in effect from time to time. 

    Section 2.2. Loans. Subject to the terms and conditions set forth
      herein, each Lender severally agrees to make Loans, ratably in proportion to its Pro Rata Share of the Aggregate Commitments, to the Borrower, from time to time during the Availability Period, in an aggregate principal amount outstanding at any time
      that will not result in (a) such Lender’s Credit Exposure exceeding such Lender’s Commitment or (b) the aggregate Credit Exposures of all Lenders exceeding the Aggregate Commitment Amount. During the Availability Period, the Borrower shall be
      entitled to borrow, prepay and reborrow Loans in accordance with the terms and conditions of this Agreement; pro- vided that the Borrower may not borrow or reborrow should there exist and be continuing a Default or Event of Default. 

    Section 2.3. Procedure for Borrowings. The Borrower shall give the
      Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Borrowing, substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Borrowing”), (x) prior to 11:00 a.m. one (1) Business
      Day prior to the requested date of each Base Rate Borrowing and (y) prior to 11:00 a.m. three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Borrowing shall be irrevocable and shall specify (i) the
      aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Loan comprising such Borrowing and (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest
      Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Borrowing shall 

     

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   consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar
    Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $500,000 or a larger multiple of $100,000; provided that Base Rate Loans made
    pursuant to Section 2.21(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed ten (10). Promptly following the receipt of a Notice of Borrowing
    in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof, including the applicable interest rate thereof, and the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

  Section 2.4. Borrowing Base. 

  (a) Initial Borrowing Base. For the period from and including the Closing Date to but excluding
    the first date on which a redetermined or adjusted Borrowing Base becomes effective pursuant to Section 2.4(d), the amount of the Borrowing Base shall be $25,000,000. The Borrowing Base is subject to periodic redeterminations,
    mandatory reductions and further adjustments from time to time pursuant to this Agreement. 

  (b) Scheduled and Interim Redeterminations. Following the Closing Date, the Borrowing Base shall
    be redetermined (i) on November 1, 2017, February 1, 2018, May 1, 2018, and August 1, 2018 and (ii) semi-annually on each February 1 and August 1, beginning on February 1, 2019 (each, a “Scheduled Redetermination”). In addition, the Borrower
    may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof, each elect to cause the Borrowing Base to be redetermined one time during each of the
    following periods: (A) between the Closing Date and February 1, 2018 Scheduled Redetermination, (B) between the February 1, 2018 and August 1, 2018 Scheduled Redeterminations, (C) between the August 1, 2018 and February 1, 2019 Scheduled
    Redeterminations and (D) starting with the February 1, 2019 Scheduled Redetermination, during any six month period between Scheduled Redeterminations (each, an “Interim Redetermination”), in accordance with this Section 2.4. 

  (c) Scheduled and Interim Redetermination Procedure. 

  (i) Each Scheduled Redetermination and each Interim Redetermination shall be effectuated as follows: Upon
    receipt by the Administrative Agent of (A) the Reserve Report and the certificate required to be delivered by the Borrower to the Administrative Agent, in the case of a Scheduled Redetermination, pursuant to clauses (a) and (c) of Section 5.13,
    and, in the case of an Interim Redetermination, pursuant to clauses (a) and (c) of Section 5.13, and (B) such other reports, data and supplemental information, including, without limitation, the information provided pursuant to
    clause (c) of Section 5.13, as may, from time to time, be reasonably requested by the Required Lenders (the Reserve Report, such certificate and such other reports, data and supplemental information being the “Engineering
      Reports”), the Administrative Agent shall evaluate the information contained in the Engineering Reports and shall propose a new Borrowing Base which shall be based upon such information from the Engineering Reports and such other information as
    the Administrative Agent deems appropriate in its sole discretion consistent with its lending criteria as it exists at such time. In no event shall the Proposed Borrowing Base exceed the Aggregate Maximum Loan Amount; 

  (ii) The Administrative Agent shall notify the Borrower and the Lenders of the Proposed Borrowing Base (the
    “Proposed Borrowing Base Notice”) after the Administrative Agent has received complete Engineering Reports from the Borrower and has had a reasonable opportunity to determine the Proposed Borrowing Base in accordance with Section 2.4(c)(i);
    and 

   

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    (iii) Until the Borrowing Base is redetermined in accordance with this Section 2.4,
      the then-existing Borrowing Base will remain in effect. Any Proposed Borrowing Base that would increase the Borrowing Base then in effect must be approved by all of the Lenders as provided in this Section 2.4(c)(iii); and any
      Proposed Borrowing Base that would decrease or maintain the Borrowing Base then in effect must be approved or be deemed to have been approved by the Required Lenders as provided in this Section 2.4(c)(iii). Upon receipt of the
      Proposed Borrowing Base Notice, each Lender shall have fifteen (15) days to agree with the Proposed Borrowing Base or disagree with the Proposed Borrowing Base by proposing an alternate Borrowing Base. If, at the end of such fifteen (15) days (A) in
      the case of any Proposed Borrowing Base that would decrease or maintain the Borrowing Base then in effect, any Lender has not communicated its approval or disapproval in writing to the Administrative Agent, such silence shall be deemed to be an
      approval of the Proposed Borrowing Base and (B) in the case of any Proposed Borrowing Base that would increase the Borrowing Base then in effect, any Lender has not communicated its approval or disapproval in writing to the Administrative Agent, such
      silence shall be deemed to be a disapproval of the Proposed Borrowing Base. If, at the end of such 15-day period, all of the Lenders, in the case of a Proposed Borrowing Base that would increase the Borrowing Base then in effect, or the Required
      Lenders, in the case of a Proposed Borrowing Base that would decrease or maintain the Borrowing Base then in effect, have approved or, in the case of a decrease or reaffirmation, deemed to have approved, as aforesaid, then the Proposed Borrowing Base
      shall become the new Borrowing Base effective on the date specified in Section 2.4(d). If, however, at the end of such 15-day period, all of the Lenders or the Required Lenders, as applicable, have not approved or, in the case
      of a decrease or reaffirmation, deemed to have approved, as aforesaid, then the Administrative Agent shall poll the Lenders to ascertain the highest Borrowing Base then acceptable to (x) in the case of a decrease or reaffirmation, a number of Lenders
      sufficient to constitute the Required Lenders and (y) in the case of an increase, all of the Lenders, and such amount shall become the new Borrowing Base effective on the date specified in Section 2.4(d). 

    (d) Effectiveness of a Redetermined Borrowing Base. After a redetermined Borrowing Base which
      maintains or decreases the Borrowing Base is approved or is deemed to have been approved by the Required Lenders and after a redetermined Borrowing Base which increases the Borrowing Base is approved by the Lenders, pursuant to Section 2.4(c)(iii),
      the Administrative Agent shall notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base effective and applicable to the
      Borrower, the Administrative Agent, the Issuing Bank and the Lenders: 

    (i) in the case of a Scheduled Redetermination, (A) if the Administrative Agent shall have received the
      Engineering Reports required to be delivered by the Borrower pursuant to clauses (a) and (c) of Section 5.13 in a timely and complete manner, then on the February 1, May 1, August 1 or November 1 (or, in each case, such date
      promptly thereafter as reasonably practicable), as applicable, following such notice, or (B) if the Administrative Agent shall not have received the Engineering Reports required to be delivered by the Borrower pursuant to clauses (a) and (c) of Section 5.13
      in a timely and complete manner, then on the Business Day next succeeding delivery of such notice; and 

     

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    (ii) in the case of an Interim Redetermination and any other redetermination provided for in this
      Agreement (other than a Scheduled Redetermination), on the Business Day next succeeding delivery of such notice. 

    Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next Interim Redetermination Date, or
      the next adjustment to the Borrowing Base pursuant to this Agreement, whichever occurs first. 

    (e) Other Redeterminations. In addition to the Borrowing Base redeterminations provided for
      otherwise in this Section 2.4 or any other provision of this Agreement, effective immediately upon each occurrence of a Triggering Event, the Required Lenders may make an additional redetermination of the Borrowing Base based on
      such information relating to the Triggering Event as Administrative Agent and such Lenders deem relevant. In connection with any redetermination of the Borrowing Base under this Section 2.4(e), the Borrower shall provide
      Administrative Agent and the Lenders with such information regarding the Borrower’s and its Subsidiaries’ proved Oil and Gas Properties and production relating thereto as Administrative Agent or any Lender may reasonably request, including an updated
      Reserve Report prepared by the chief engineer of the Borrower or, if such position is vacant or does not exist, an Approved Petroleum Engineer. Administrative Agent shall promptly notify the Borrower in writing of each redetermination of the
      Borrowing Base pursuant to this Section 2.4(e) and the amount of the Borrowing Base as so redetermined. 

    Section 2.5. Funding of Borrowings. 

    (a) Each Lender will make available each Loan to be made by it hereunder on the proposed date thereof by
      wire transfer in immediately available funds by 11:00 a.m. to the Administrative Agent at the Payment Office. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts that it receives, in like funds by
      the close of business on such proposed date, to an account maintained by the Borrower with the Administrative Agent or, at the Borrower’s option, by effecting a wire transfer of such amounts to an account designated by the Borrower to the
      Administrative Agent. 

    (b) Unless the Administrative Agent shall have been notified by any Lender prior to 5:00 p.m. one
      (1) Business Day prior to the date of a Borrowing in which such Lender is to participate that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender
      has made such amount available to the Administrative Agent on such date, and the Administrative Agent, in reliance on such assumption, may make available to the Borrower on such date a corresponding amount. If such corresponding amount is not in fact
      made available to the Administrative Agent by such Lender on the date of such Borrowing, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender together with interest (x) at the Federal Funds Rate
      until the second Business Day after such demand and (y) at the Base Rate at all times thereafter. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly
      notify the Borrower, and the Borrower shall immediately pay such corresponding amount to the Administrative Agent together with interest at the rate specified for such Borrowing. Nothing in this subsection shall be deemed to relieve any Lender from
      its obligation to fund its Pro Rata Share of any Borrowing hereunder or to prejudice any rights which the Borrower may have against any Lender as a result of any default by such Lender hereunder. 

     

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    (c) All Borrowings shall be made by the Lenders on the basis of their respective Pro Rata Shares. No
      Lender shall be responsible for any default by any other Lender in its obligations hereunder, and each Lender shall be obligated to make its Loans provided to be made by it hereunder, regardless of the failure of any other Lender to make its Loans
      hereunder. 

    Section 2.6. Interest Elections. 

    (a) Each Borrowing initially shall be of the Type specified in the applicable Notice of Borrowing.
      Thereafter, the Borrower may elect to convert such Borrowing into a different Type or to continue such Borrowing, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing,
      in which case each such portion shall be allocated ratably among the Lenders holding Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

    (b) To make an election pursuant to this Section, the Borrower shall give the Administrative Agent
      written notice (or telephonic notice promptly confirmed in writing) of each Borrowing that is to be converted or continued, as the case may be, substantially in the form of Exhibit 2.6 attached hereto (a “Notice of Conversion/Continuation”)
      (x) prior to 10:00 a.m. one (1) Business Day prior to the requested date of a conversion into a Base Rate Borrowing and (y) prior to 11:00 a.m. three (3) Business Days prior to a continuation of or conversion into a Eurodollar Borrowing. Each such
      Notice of Conversion/Continuation shall be irrevocable and shall specify (i) the Borrowing to which such Notice of Conversion/Continuation applies and, if different options are being elected with respect to different portions thereof, the portions
      thereof that are to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) shall be specified for each resulting Borrowing), (ii) the effective date of the election made pursuant to
      such Notice of Conversion/Continuation, which shall be a Business Day, (iii) whether the resulting Borrowing is to be a Base Rate Borrowing or a Eurodollar Borrowing, and (iv) if the resulting Borrowing is to be a Eurodollar Borrowing, the Interest
      Period applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of “Interest Period”. If any such Notice of Conversion/Continuation requests a Eurodollar Borrowing but does not specify an
      Interest Period, the Borrower shall be deemed to have selected an Interest Period of one month. The principal amount of any resulting Borrowing shall satisfy the minimum borrowing amount for Eurodollar Borrowings and Base Rate Borrowings set forth in
      Section 2.3. 

    (c) If, on the expiration of any Interest Period in respect of any Eurodollar Borrowing, the Borrower
      shall have failed to deliver a Notice of Conversion/Continuation, then, unless such Borrowing is repaid as provided herein, the Borrower shall be deemed to have elected to convert such Borrowing to a Base Rate Borrowing. No Borrowing may be converted
      into, or continued as, a Eurodollar Borrowing if a Default or an Event of Default exists and is continuing, unless the Administrative Agent and each of the Lenders shall have otherwise consented in writing. No conversion of any Eurodollar Loan shall
      be permitted except on the last day of the Interest Period in respect thereof. 

    (d) Upon receipt of any Notice of Conversion/Continuation, the Administrative Agent shall promptly notify
      each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

     

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    Section 2.7. Optional Reduction and Termination of Commitments. 

    (a) Unless previously terminated, all Commitments and LC Commitments shall terminate on the Commitment
      Termination Date. 

    (b) Upon at least three (3) Business Days’ prior written notice (or telephonic notice promptly confirmed
      in writing) to the Administrative Agent (which notice shall be irrevocable), the Borrower may reduce the Aggregate Maximum Loan Amount in part or terminate the Aggregate Maximum Loan Amount (and by virtue thereof, all Commitments) in whole; provided
      that (i) any partial reduction shall apply to reduce proportionately among Lenders (in accordance with their Pro Rata Shares) and permanently the Commitment of each Lender, (ii) any partial reduction pursuant to this Section shall be in an amount of
      at least $500,000 and any larger multiple of $100,000, and (iii) no such reduction shall be permitted which would reduce the Aggregate Maximum Loan Amount to an amount less than the aggregate outstanding Credit Exposure of all Lenders; provided,
      however, that a notice of termination or reduction of the Aggregate Maximum Loan Amount pursuant to this section may state that such notice is conditioned upon the effectiveness of new credit facilities or other debt or equity financing, in which
      case such notice may be revoked by the Borrower if such condition is not satisfied. Commitment fees hereunder shall be computed on the basis of the Commitments, as so reduced as provided in this section. Any such reduction in the Aggregate Maximum
      Loan Amount below the principal amount of the LC Commitment shall result in a dollar-for-dollar reduction in the LC Commitment and no such reduction shall be permitted that would reduce the Aggregate Maximum Loan Amount below the aggregate LC
      Exposure of all Lenders. 

    (c) With the written approval of the Administrative Agent, the Borrower may terminate (on a non-ratable
      basis) the unused amount of the Maximum Loan Amount (and by virtue thereof, all of the Commitment) of a Defaulting Lender, and in such event the provisions of Section 2.24 will apply to all amounts thereafter paid by the
      Borrower for the account of any such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that such termination will not be deemed to be a waiver or release of any
      claim that the Borrower, the Administrative Agent, the Issuing Bank or any other Lender may have against such Defaulting Lender. 

    Section 2.8. Repayment of Loans. The outstanding principal amount of
      all Loans shall be due and payable (together with accrued and unpaid interest thereon) on the Commitment Termination Date. 

    Section 2.9. Evidence of Indebtedness. 

    (a) Each Lender shall maintain in accordance with its usual practice appropriate records evidencing the
      Indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable thereon and paid to such Lender from time to time under this Agreement. The
      Administrative Agent shall maintain appropriate records in which shall be recorded (i) the Commitment and Maximum Commitment of each Lender, (ii) the amount of each Loan made hereunder by each Lender, the Type thereof and, in the case of each
      Eurodollar Loan, the Interest Period applicable thereto, (iii) the date of any continuation of any Loan pursuant to Section 2.6, (iv) the date of any conversion of all or a portion of any Loan to another Type pursuant to Section 2.6,
      (v) the date and amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder in respect of the Loans and (vi) both the date and amount of any sum received by the Administrative Agent
      hereunder from the Borrower in respect of the Loans and each Lender’s Pro Rata Share thereof. The entries made in such records shall be prima 

     

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     facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided
      that the failure or delay of any Lender or the Administrative Agent in maintaining or making entries into any such record or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans (both principal and unpaid
      accrued interest) of such Lender in accordance with the terms of this Agreement. 

    (b) This Agreement evidences the obligation of the Borrower to repay the Loans and is being executed as a
      “noteless” credit agreement. However, at the request of any Lender at any time, the Borrower agrees that it will prepare, execute and deliver to such Lender one original promissory note payable to the order of such Lender in a form substantially
      similar to Exhibit B attached hereto. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment permitted hereunder) be represented by such promissory note in such form payable
      to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

    Section 2.10. Optional Prepayments. The Borrower shall have the right
      at any time and from time to time to prepay any Borrowing, in whole or in part, without premium or penalty, by giving written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent no later than (i) in the case of any
      prepayment of any Eurodollar Borrowing, 11:00 a.m. not less than three (3) Business Days prior to the date of such prepayment, and (ii) in the case of any prepayment of any Base Rate Borrowing, not less than one (1) Business Day prior to the date of
      such prepayment. Each such notice shall be irrevocable and shall specify the proposed date of such prepayment and the principal amount of each Borrowing or portion thereof to be prepaid. Upon receipt of any such notice, the Administrative Agent shall
      promptly notify each affected Lender of the contents thereof and of such Lender’s Pro Rata Share of any such prepayment. If such notice is given, the aggregate amount specified in such notice shall be due and payable on the date designated in such
      notice, together with accrued interest to such date on the amount so prepaid in accordance with Section 2.12(c); provided that if a Eurodollar Borrowing is prepaid on a date other than the last day of an Interest Period
      applicable thereto, the Borrower shall also pay all amounts required pursuant to Section 2.18. Each optional prepayment of Eurodollar Borrowing shall be in a minimum amount not less than $1,000,000 and in multiple integrals of
      $500,000 in excess thereof and (B) each optional prepayment of Base Rate Borrowing shall be in a minimum amount not less than $500,000 and in multiple integrals of $100,000 in excess thereof. Each prepayment of a Borrowing shall be applied to the
      Borrowing specified by the Borrower and ratably to the Loans comprising such Borrowing. 

    Section 2.11. Mandatory Prepayments. 

    (a) Upon any redetermination of or any other adjustment to the amount of the Borrowing Base in accordance
      with Section 2.4 (other than in accordance with Section 2.4(e)) or otherwise pursuant to this Agreement, if a Borrowing Base Deficiency exists, then the Borrower shall: (i) at its election (A) prepay the
      Loans in an aggregate principal amount equal to such Borrowing Base Deficiency, (B) execute documentation reasonably acceptable to the Administrative Agent to create a first priority perfected Lien in additional Oil and Gas Properties with value and
      quality satisfactory to the Administrative Agent and the Required Lenders in their sole discretion not currently subject to a mortgage Lien in favor of the Administrative Agent pursuant to the Collateral Documents of equal or greater value to such
      Borrowing Base Deficiency, (C) prepay the Loans in five (5) equal monthly installments each equal to one-fifth of such Borrowing Base Deficiency, the first of which shall be due on the thirtieth (30th) day following its receipt of the New Borrowing
      Base Notice in accordance with Section 2.4(d) or the date the adjustment occurs; or (D) exercise any combination of the foregoing and (ii) if any such Borrowing Base Deficiency remains after prepaying all of the Loans as a
      result of an LC 

     

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  Exposure, pay to the Administrative Agent on behalf of the Lenders an amount equal to such remaining Borrowing Base
    Deficiency to be held as cash collateral as provided in Section 2.21(g). The Borrower shall be obligated to (1) within ten (10) days following its receipt of the New Borrowing Base Notice in accordance with Section 2.4(d)
    or the date the adjustment occurs, give written notice to the Administrative Agent of its election to cure such Borrowing Base Deficiency pursuant to the applicable subclause (A) – (D) of Section 2.11(a)(i) and (2) make such
    prepayment, execute such documentation, make all such installment payments and/or deposit of cash collateral on the date which is thirty (30) days (with regards to clauses (i)(A) and (i)(B) of the immediately preceding sentence) or on the date which is
    one-hundred fifty (150) days (with regards to clauses (i)(C) and (i)(D) in the immediately preceding sentence and subject to the terms thereof) following its receipt of the New Borrowing Base Notice in accordance with Section 2.4(d)
    or the date the adjustment occurs; provided that the Administrative Agent may, in its sole discretion, elect to extend the deadline to execute documentation provided for by clause (i)(B) of the immediately preceding sentence up to an
    additional thirty (30) days; provided further that all payments required to be made pursuant to this Section 2.11(a) must be made on or prior to the Commitment Termination Date. 

  (b) Upon each redetermination of the Borrowing Base under Section 2.4(e) from the
    occurrence of a Triggering Event, if a Borrowing Base Deficiency then exists or results therefrom, then, on the date of such redetermination, the Borrower shall prepay the Loans in an aggregate principal amount equal to such Borrowing Base Deficiency
    from proceeds received by the Borrower as a result of such Triggering Event (“Triggering Event Proceeds”) or from such other proceeds available to the Borrower from time to time (in each case, prior to any application of subsection (d) of this
    Section in respect of such Triggering Event Proceeds), and if any Borrowing Base Deficiency remains after prepaying all of the Loans as a result of an LC Exposure, pay to the Administrative Agent on behalf of the Lenders an amount equal to such
    Borrowing Base Deficiency from such Triggering Event Proceeds or otherwise to be held as cash collateral as provided in Section 2.21(g). 

  (c) Any prepayments made by the Borrower pursuant to subsection (a) or (b) of this Section shall be applied
    as follows: first, to the Administrative Agent’s fees and reimbursable expenses then due and payable pursuant to any of the Loan Documents; second, to all reimbursable expenses of the Lenders and all fees and reimbursable expenses of
    the Issuing Bank then due and payable pursuant to any of the Loan Documents, pro rata to the Lenders and the Issuing Bank based on their respective pro rata shares of such fees and expenses; third, to interest and fees then
    due and payable hereunder, pro rata to the Lenders based on their respective pro rata shares of such interest and fees; fourth, to the principal balance of the Loans specified by the Borrower, until the Borrowing Base
    Deficiency shall have been paid as provided in this Section 2.11(a) or (b) as applicable pro rata to the Lenders based on their respective Commitments; and thereafter, to Cash Collateralize the Letters of
    Credit as provided in such subsections; provided, however, that the foregoing shall not be interpreted to (x) cause any of the foregoing interest, fees or expenses to be due and payable unless already due and payable pursuant to other
    provisions of the Loan Documents and such interest, fees and expenses shall continue to be required to be paid on such date that each are otherwise due and payable or (y) eliminate or reduce the three (3) Business Days grace period with respect to an
    Event of Default under Section 8.1(b). 

  (d) Following the application of Triggering Event Proceeds, if any, to pay any Borrowing Base Deficiency as
    provided in subsection (b) of this Section, if the Consolidated Cash Balance exceeds the Consolidated Cash Balance Limit for five (5) consecutive Business Days (the amount of such excess on such fifth (5th) Business Day being, “Excess Cash”),
    then the Borrower shall, no later than 12:00 noon on such fifth (5th) Business Day, prepay the Loans 

   

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     (other than any Letters of Credit) in an aggregate principal amount equal to the Excess Cash. Any prepayments made by the
      Borrower pursuant to this subsection (d) shall be without premium, minimum payment amount or penalty and shall be applied to the principal balance of any Borrowing specified by the Borrower. If, as a result of a mandatory prepayment pursuant to this
      Section 2.11(d), a Eurodollar Borrowing is prepaid on a date other than the last day of an Interest Period applicable thereto, the Lenders shall waive any amounts required pursuant to Section 2.18. 

    Section 2.12. Interest on Loans. 

    (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the
      Applicable Margin in effect from time to time for such period and (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan plus the Applicable Margin in effect from time to time for such
      period. 

    (b) Notwithstanding subsection (a) of this Section, at the option of the Required Lenders if an Event of
      Default has occurred and is continuing, and automatically after acceleration following an Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200
      basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period until the earlier of the last day of such Interest Period and the last day of the continuance of such Event of Default, and
      thereafter during such continuance, and with respect to all Base Rate Loans and all other such Obligations hereunder (other than Loans), at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for Base
      Rate Loans. 

    (c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are
      made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on
      all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period of six months or more, on each day which occurs every three months after
      the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any
      such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand. 

    (d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and
      shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error. 

    Section 2.13. Fees. 

    (a) The Borrower shall pay to the Administrative Agent for its own account fees in the amounts and at the
      times previously agreed upon in writing by the Borrower and the Administrative Agent. 

    (b) The Borrower agrees to pay to the Administrative Agent for the account of each Lender an unused
      commitment fee, which shall accrue at the Applicable Percentage per annum (determined daily in accordance with Schedule I) on the daily amount of the unused Commitment of such Lender during the Availability Period. For purposes of
      computing the unused 

     

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   commitment fee, the Commitment of each Lender shall be deemed used to the extent of the outstanding Loans and LC Exposure
    of such Lender. Upon the occurrences of any reduction or termination of the Commitments under this Agreement applied to a Lender’s Commitment, the applicable fees including the unused commitment fee shall upon such occurrence be computed on the basis
    of the Commitments, as so reduced. 

  (c) The Borrower agrees to pay (i) to the Administrative Agent, for the account of each Lender, a letter of
    credit fee with respect to its participation in each Letter of Credit, which shall accrue at a rate per annum equal to the Applicable Margin for Eurodollar Loans then in effect on the average daily amount of such Lender’s LC Exposure
    attributable to such Letter of Credit during the period from and including the date of issuance of such Letter of Credit to but excluding the date on which such Letter of Credit expires or is drawn in full (including, without limitation, any LC
    Exposure that remains outstanding after the Commitment Termination Date) and (ii) to the Issuing Bank for its own account a fronting fee, which shall accrue at 0.125% per annum on the average daily amount of the LC Exposure (excluding any portion
    thereof attributable to unreimbursed LC Disbursements) during the Availability Period (or until the date that such Letter of Credit is irrevocably cancelled, whichever is later), as well as the Issuing Bank’s standard fees with respect to issuance,
    amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Notwithstanding the foregoing, if the Required Lenders elect to increase the interest rate on the Loans to the rate for Default Interest pursuant to Section 2.12(b),
    the rate per annum used to calculate the letter of credit fee pursuant to clause (i) above shall automatically be increased by 200 basis points. 

  (d) Accrued fees under subsections (b) and (c) of this Section shall be payable quarterly in arrears on the
    last day of each March, June, September and December, commencing on September 30, 2017, and on the Commitment Termination Date (and, if later, the date the Loans and LC Exposure shall be repaid in their entirety); provided that any such fees
    accruing after the Commitment Termination Date shall be payable on demand. 

  Section 2.14. Computation of Interest and Fees. 

  Interest hereunder based on the Administrative Agent’s prime lending rate shall be computed on the basis of a year of 365
    days (or 366 days in a leap year) and paid for the actual number of days elapsed (including the first day but excluding the last day). All other interest and all fees hereunder shall be computed on the basis of a year of 360 days and paid for the
    actual number of days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of an interest rate or fee hereunder shall be made in good faith and, except for manifest error, shall be final,
    conclusive and binding for all purposes. 

  Section 2.15. Inability to Determine Interest Rates. If, prior to the commencement of
    any Interest Period for any Eurodollar Borrowing: 

  (i) the Administrative Agent shall have determined (which determination shall be conclusive and binding
    upon the Borrower) that, by reason of circumstances affecting the relevant interbank market, adequate means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period, or 

  (ii) the Administrative Agent shall have received notice from the Required Lenders that the Adjusted LIBO
    Rate does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining their Eurodollar Loans for such Interest Period, 

   

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     the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower
      and to the Lenders as soon as practicable thereafter. Until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) the obligations of the Lenders to make Eurodollar
      Loans or to continue or convert outstanding Loans as or into Eurodollar Loans shall be suspended and (ii) all such affected Loans shall be converted into Base Rate Loans on the last day of the then current Interest Period applicable thereto unless
      the Borrower prepays such Loans in accordance with this Agreement. Unless the Borrower notifies the Administrative Agent at least one (1) Business Day before the date of any Eurodollar Borrowing for which a Notice of Borrowing or a Notice of
      Continuation/Conversion has previously been given that it elects not to borrow, continue or convert to a Eurodollar Borrowing on such date, then such Borrowing shall be made as, continued as or converted into a Base Rate Borrowing. 

    Section 2.16. Illegality. If any Change in Law shall make it unlawful
      or impossible for any Lender to perform any of its obligations hereunder or make, maintain or fund any Eurodollar Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall promptly give notice thereof to the
      Borrower and the other Lenders, whereupon until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Loans, or to
      continue or convert outstanding Loans as or into Eurodollar Loans, shall be suspended. In the case of the making of a Eurodollar Borrowing, such Lender’s Loan shall be made as a Base Rate Loan as part of the same Borrowing for the same Interest
      Period and, if the affected Eurodollar Loan is then outstanding, such Loan shall be converted to a Base Rate Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Loan if such Lender may lawfully continue
      to maintain such Loan to such date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Loan to such date. Notwithstanding the foregoing, the affected Lender shall, prior to giving such
      notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith
      exercise of its discretion. 

    Section 2.17. Increased Costs. 

    (a) If any Change in Law shall: 

    (i) impose, modify or deem applicable any reserve, special deposit or similar requirement that is not
      otherwise included in the determination of the Adjusted LIBO Rate hereunder against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or the
      Issuing Bank; or 

    (ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses
      (b) through (d) of the definition of Excluded Taxes and (C) 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; or
    

    (iii) impose on any Lender, the Issuing Bank or the eurodollar interbank market any other condition, cost
      or expense (other than Taxes) affecting this Agreement or any Eurodollar Loans made by such Lender or any Letter of Credit or any participation therein; 

    and the result of any of the foregoing is to increase the cost to such Lender of making, converting into, continuing or maintaining any
      Eurodollar Loan or of maintaining its obligation to make any such Loan or to increase the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining any 

     

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    Letter of Credit (or of maintaining its obligation with respect to Letters of Credit) or to reduce the amount received or receivable by
      such Lender or the Issuing Bank hereunder (whether of principal, interest or any other amount), 

    then, from time to time, such Lender or the Issuing Bank may provide the Borrower (with a copy thereof to the Administrative Agent) with
      written notice and demand, in the form set forth in Section 2.17(c), with respect to such increased costs or reduced amounts, and within five (5) Business Days after receipt of such notice and demand the Borrower shall pay to
      such Lender or the Issuing Bank, as the case may be, such additional amounts as will compensate such Lender or the Issuing Bank for any such additional or increased costs incurred or reduction suffered; provided that the Borrower shall not be
      liable for such compensation if the relevant Change in Law occurs on a date prior to the date such Lender or Issuing Bank becomes party hereto. 

    (b) If any Lender or the Issuing Bank shall have determined that on or after the date of this Agreement
      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 or the Issuing Bank’s capital (or on the capital of the Parent Company of such Lender or the Issuing Bank) as a
      consequence of its obligations hereunder or under or in respect of any Letter of Credit to a level below that which such Lender, the Issuing Bank or such Parent Company could have achieved but for such Change in Law (taking into consideration such
      Lender’s or the Issuing Bank’s policies or the policies of such Parent Company with respect to capital adequacy and liquidity), then, from time to time, such Lender or the Issuing Bank may provide the Borrower (with a copy thereof to the
      Administrative Agent) with written notice and demand with respect to such reduced amounts, and within five (5) Business Days after receipt of the certificate provided in Section 2.17(c), the Borrower shall pay to such Lender or
      the Issuing Bank, as the case may be, such additional amounts as will compensate such Lender, the Issuing Bank or such Parent Company for any such reduction suffered. 

    (c) A certificate of such Lender or the Issuing Bank setting forth the amount or amounts necessary to
      compensate such Lender, the Issuing Bank or the Parent Company of such Lender or the Issuing Bank, as the case may be, specified in subsection (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. 

    (d) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to
      this Section shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation. 

    Section 2.18. Funding Indemnity. Except in the event of an Excess Cash
      Payment, in the event of (a) the payment of any principal of a Eurodollar Loan other than on the last day of the Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion or continuation of a Eurodollar
      Loan other than on the last day of the Interest Period applicable thereto, or (c) the failure by the Borrower to borrow, prepay, convert or continue any Eurodollar Loan on the date specified in any applicable notice delivered by the Borrower pursuant
      to this Agreement (regardless of whether such notice is withdrawn or revoked), then, in any such event, within five (5) Business Days following receipt of the certificate set forth in this Section 2.18 by the Borrower, the
      Borrower shall compensate each Lender for the loss, cost or expense incurred by it attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense shall be deemed to include an amount determined by such Lender to be the
      excess, if any, of (A) the amount of interest that would have accrued on the prepaid principal amount of such Eurodollar Loan if such event had not occurred at the Adjusted LIBO Rate applicable to such Eurodollar Loan for the period from the date of
      such event to the last day of the then current Interest 

     

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   Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for
    such Eurodollar Loan) over (B) the amount of interest that would accrue on the principal amount of such Eurodollar Loan for the same period if the Adjusted LIBO Rate were set on the date such Eurodollar Loan was prepaid or converted or the date on
    which the Borrower failed to borrow, convert or continue such Eurodollar Loan. A certificate as to any additional amount payable under this Section submitted to the Borrower by any Lender (with a copy to the Administrative Agent) shall be conclusive,
    absent manifest error. 

  Section 2.19. Taxes. 

  (a) Defined Terms. For purposes of this Section 2.19, the term “Lender”
    includes Issuing Bank and the term “applicable law” includes FATCA. 

  (b) Payments Free of Taxes. Any and all payments by or on account of any obligation of any Loan
    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 Loan Party shall be increased as necessary so that after such deduction or withholding has been made (including such
    deductions and withholdings applicable to additional sums payable under this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

  (c) Payment of Other Taxes by the Borrower. The Borrower 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. 

  (d) Indemnification by the Borrower. The Borrower shall indemnify each Recipient, within 10 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 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the
    obligation of the Borrower to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.4(d) 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). 

   

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  (f) Evidence of Payments. As soon as practicable after any payment of Taxes by the Borrower or any
    other Loan Party to a Governmental Authority pursuant to this Section 2.19, the Borrower or other Loan Party shall, upon written request by the Administrative Agent, 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. 

  (g) 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 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 2.19(g)(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 originals 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: 

  (i) 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 originals of IRS Form W-8BEN or IRS Form W-8BEN-E 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, IRS Form W-8BEN or IRS Form W-8BEN-E 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; 

   

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    (ii) executed originals of IRS Form W-8ECI; 

    (iii) 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 2.19A 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 881(c)(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 originals of IRS Form W-8BEN; or 

    (iv) to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY,
      accompanied by IRS Form W- 8ECI, IRS Form W-8BEN or IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit 2.19B or Exhibit 2.19C, IRS Form W-9, and/or other 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 2.19D 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 Lender under any Loan Document would be subject to U.S. federal withholding
      Tax imposed by FATCA if such Lender 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 Lender 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 Lender has complied with such Lender’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. 

     

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    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. 

    (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 2.19 (including by the payment of additional amounts pursuant to this Section 2.19), 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 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
      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) Administrative Agent Documentation. On or before the date that the Administrative Agent (or
      any successor or replacement Administrative Agent) becomes the Administrative Agent hereunder, it shall deliver to the Borrower two copies of either (i) IRS Form W-9, or (ii) if the Administrative Agent is not a U.S. person, (A) an IRS Form W-8ECI
      with respect to amounts it receives on its own account, (B) an Internal Revenue Service Form W- 8IMY, as revised certifying that the payments it receives for the account of others are not effectively connected with the conduct of a trade or business
      in the United States, or (C) such other forms or documentation as will establish that it is exempt from U.S. withholding Taxes, including Taxes imposed by FATCA. 

    (j) Survival. Each party’s obligations under this Section 2.19 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 2.20. 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 reimbursement of LC Disbursements, or of amounts payable under Section 2.17, 2.18 or 2.19, or otherwise) prior to 12:00 noon on the date when due, in immediately available funds, free and clear
      of any defenses, rights of set-off, counterclaim, or withholding or deduction of taxes. 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 the Payment Office, except payments to be made directly to the Issuing Bank as expressly provided herein and except that
      payments pursuant to Sections 2.17, 

     

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     2.18, 2.19 and 10.3 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 made 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, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied as follows: first, to all fees and reimbursable expenses of the Administrative Agent then due and payable
      pursuant to any of the Loan Documents; second, to all reimbursable expenses of the Lenders and all fees and reimbursable expenses of the Issuing Bank then due and payable pursuant to any of the Loan Documents, pro rata to the Lenders
      and the Issuing Bank based on their respective pro rata shares of such fees and expenses; third, to all interest and fees then due and payable hereunder, pro rata to the Lenders based on their respective pro rata shares
      of such interest and fees; and fourth, to all principal of the Loans and unreimbursed LC Disbursements then due and payable hereunder, pro rata to the parties entitled thereto based on their respective pro rata shares of
      such principal and unreimbursed LC Disbursements. 

    (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 or participations in LC Disbursements that would result in such Lender receiving payment of a greater proportion of the aggregate amount of its Credit Exposure and accrued interest and
      fees thereon than the pro rata proportion received by any other Lender with respect to its Credit Exposure, then the Lender receiving such greater proportion shall notify the Administrative Agent of such fact and purchase (for cash at face value)
      participations in the Credit Exposure 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 Credit Exposure; 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 rescinded and the purchase price restored to the
      extent of such recovery, without interest, and (ii) the provisions of this subsection 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 (including the
      application of funds arising from the existence of a Defaulting Lender) or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Credit Exposure to any assignee or participant, other than to
      the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this subsection 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 notice from the Borrower prior to the date on
      which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank 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 or the Issuing Bank, as the case may be, the amount or amounts due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders
      or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so 

     

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     distributed to such Lender or Issuing Bank 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 greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

    Section 2.21. Letters of Credit. 

    (a) During the Availability Period, the Issuing Bank, in reliance upon the agreements of the other
      Lenders pursuant to subsections (d) and (e) of this Section, may, in its sole discretion, issue, at the request of the Borrower, Letters of Credit for the account of the Borrower on the terms and conditions hereinafter set forth; provided
      that (i) each Letter of Credit shall expire on the earlier of (A) the date one year after the date of issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and (B) the date
      that is five (5) Business Days prior to the Stated Termination Date; (ii) each Letter of Credit shall be in a stated amount of at least $5,000; and (iii) the Borrower may not request any Letter of Credit if, after giving effect to such issuance,
      (A) the aggregate LC Exposure would exceed the LC Commitment or (B) the aggregate Credit Exposure of all Lenders would exceed the Aggregate Commitment Amount. Each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
      purchase from the Issuing Bank without recourse a participation in each Letter of Credit equal to such Lender’s Pro Rata Share of the aggregate amount available to be drawn under such Letter of Credit on the date of issuance. Each issuance of a
      Letter of Credit shall be deemed to utilize the Commitment of each Lender by an amount equal to the amount of such participation. 

    (b) To request the issuance of a Letter of Credit (or any amendment, renewal or extension of an
      outstanding Letter of Credit), the Borrower shall give the Issuing Bank and the Administrative Agent irrevocable written notice at least three (3) Business Days prior to the requested date of such issuance specifying the date (which shall be a
      Business Day) such Letter of Credit is to be issued (or amended, renewed or extended, as the case may be), the expiration date of such Letter of Credit, the amount of such Letter of Credit, the name and address of the beneficiary thereof and such
      other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. In addition to the satisfaction of the conditions in Article III, the issuance of such Letter of Credit (or any amendment which increases the
      amount of such Letter of Credit) will be subject to the further conditions that such Letter of Credit shall be in such form and contain such terms as the Issuing Bank shall approve and that the Borrower shall have executed and delivered any
      additional applications, agreements and instruments relating to such Letter of Credit as the Issuing Bank shall reasonably require; provided that in the event of any conflict between such applications, agreements or instruments and this
      Agreement, the terms of this Agreement shall control. 

    (c) At least two (2) Business Days prior to the issuance of any Letter of Credit, the Issuing Bank will
      confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received such notice, and, if not, the Issuing Bank will provide the Administrative Agent with a copy thereof. Unless the Issuing Bank has received
      notice from the Administrative Agent, on or before the Business Day immediately preceding the date the Issuing Bank is to issue the requested Letter of Credit, directing the Issuing Bank not to issue the Letter of Credit because such issuance is not
      then permitted hereunder because of the limitations set forth in subsection (a) of this Section or that one or more conditions specified in Article III are not then satisfied, then, subject to the terms and conditions hereof, the Issuing Bank
      shall, on the requested date, issue such Letter of Credit in accordance with the Issuing Bank’s usual and customary business practices. 

     

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    (d) The Issuing Bank shall examine all documents purporting to represent a demand for payment under a
      Letter of Credit promptly following its receipt thereof. The Issuing Bank shall notify the Borrower and the Administrative Agent of such demand for payment and whether the Issuing Bank has made or will make a LC Disbursement thereunder; provided
      that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to such LC Disbursement. The Borrower shall be irrevocably and unconditionally
      obligated to reimburse the Issuing Bank for any LC Disbursements paid by the Issuing Bank in respect of such drawing, without presentment, demand or other formalities of any kind. Unless the Borrower shall have notified the Issuing Bank and the
      Administrative Agent prior to 11:00 a.m. on the Business Day immediately prior to the date on which such drawing is honored that the Borrower intends to reimburse the Issuing Bank for the amount of such drawing in funds other than from the proceeds
      of Loans, the Borrower shall be deemed to have timely given a Notice of Borrowing to the Administrative Agent requesting the Lenders to make a Base Rate Borrowing on the date on which such drawing is honored in an exact amount due to the Issuing
      Bank; provided that for purposes solely of such Borrowing, the conditions precedent set forth in Section 3.2 hereof shall not be applicable. The Administrative Agent shall notify the Lenders of such Borrowing in
      accordance with Section 2.3, and each Lender shall make the proceeds of its Base Rate Loan included in such Borrowing available to the Administrative Agent for the account of the Issuing Bank in accordance with Section 2.5.
      The proceeds of such Borrowing shall be applied directly by the Administrative Agent to reimburse the Issuing Bank for such LC Disbursement. 

    (e) If for any reason a Base Rate Borrowing may not be (as determined in the sole discretion of the
      Administrative Agent), or is not, made in accordance with the foregoing provisions, then each Lender (other than the Issuing Bank) shall be obligated to fund the participation that such Lender purchased pursuant to subsection (a) of this Section in
      an amount equal to its Pro Rata Share of such LC Disbursement on and as of the date which such Base Rate Borrowing should have occurred. Each Lender’s obligation to fund its participation shall be absolute and unconditional and shall not be affected
      by any circumstance, including, without limitation, (i) any set-off, counterclaim, recoupment, defense or other right that such Lender or any other Person may have against the Issuing Bank or any other Person for any reason whatsoever, (ii) the
      existence of a Default or an Event of Default or the termination of the Aggregate Commitments, (iii) any adverse change in the condition (financial or otherwise) of the Borrower or any of its Subsidiaries, (iv) any breach of this Agreement by the
      Borrower or any other Lender, (v) any amendment, renewal or extension of any Letter of Credit or (vi) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. On the date that such participation is
      required to be funded, each Lender shall promptly transfer, in immediately available funds, the amount of its participation to the Administrative Agent for the account of the Issuing Bank. Whenever, at any time after the Issuing Bank has received
      from any such Lender the funds for its participation in a LC Disbursement, the Issuing Bank (or the Administrative Agent on its behalf) receives any payment on account thereof, the Administrative Agent or the Issuing Bank, as the case may be, will
      distribute to such Lender its Pro Rata Share of such payment; provided that if such payment is required to be returned for any reason to the Borrower or to a trustee, receiver, liquidator, custodian or similar official in any bankruptcy
      proceeding, such Lender will return to the Administrative Agent or the Issuing Bank any portion thereof previously distributed by the Administrative Agent or the Issuing Bank to it. 

    (f) To the extent that any Lender shall fail to pay any amount required to be paid pursuant to subsection
      (d) or (e) of this Section on the due date therefor, such Lender shall pay interest to the Issuing Bank (through the Administrative Agent) on such amount from such due date to the date such payment is made at a rate per annum equal to the
      Federal Funds Rate; 

     

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   provided that if such Lender shall fail to make such payment to the Issuing Bank within three (3) Business Days of
    such due date, then, retroactively to the due date, such Lender shall be obligated to pay interest on such amount at the rate set forth in Section 2.12(b). 

  (g) If any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives
    notice from the Administrative Agent or the Required Lenders demanding that its reimbursement obligations with respect to the Letters of Credit be Cash Collateralized pursuant to this subsection, the Borrower shall deposit in an account with the
    Administrative Agent, in the name of the Administrative Agent and for the benefit of the Issuing Bank and the Lenders, an amount in cash equal to 105% of the aggregate LC Exposure of all Lenders as of such date plus any accrued and unpaid fees thereon;
    provided that such obligation to Cash Collateralize the reimbursement obligations of the Borrower with respect to the Letters of Credit shall become effective immediately, and such deposit shall become immediately due and payable, without demand
    or notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in Section 8.1(g) or (h). Such deposit shall be held by the Administrative Agent as collateral for the payment and
    performance of the obligations of the Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. The Borrower agrees to execute any documents and/or
    certificates to effectuate the intent of this subsection. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and
    expense, such deposits shall not bear interest. Interest and profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements
    for which it had not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated, with the
    consent of the Required Lenders, be applied to satisfy other obligations of the Borrower under this Agreement and the other Loan Documents. If the Borrower is required to Cash Collateralize its reimbursement obligations with respect to the Letters of
    Credit as a result of the occurrence of an Event of Default, such cash collateral so posted (to the extent not so applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all Events of Default have been cured or
    waived. 

  (h) Upon the request of any Lender, but no more frequently than quarterly, the Issuing Bank shall deliver
    (through the Administrative Agent) to each Lender and the Borrower a report describing the aggregate Letters of Credit then outstanding. Upon the request of any Lender from time to time, the Issuing Bank shall deliver to such Lender any other
    information reasonably requested by such Lender with respect to each Letter of Credit then outstanding. 

  (i) The Borrower’s obligation to reimburse LC Disbursements hereunder shall be absolute, unconditional and
    irrevocable and shall be performed strictly in accordance with the terms of this Agreement under all circumstances whatsoever and irrespective of any of the following circumstances: 

  (i) any lack of validity or enforceability of any Letter of Credit or this Agreement; 

  (ii) the existence of any claim, set-off, defense or other right which the Borrower or any Subsidiary or
    Affiliate of the Borrower may have at any time against a beneficiary or any transferee of any Letter of Credit (or any Persons or entities for whom any such beneficiary or transferee may be acting), any Lender (including the Issuing Bank) or any other
    Person for whom such beneficiary or any such transferee may be acting, whether in connection with this Agreement or the Letter of Credit or any document related hereto or thereto or any unrelated transaction; 

   

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  (iii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or
    invalid in any respect or any statement therein being untrue or inaccurate in any respect; 

  (iv) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document
    to the Issuing Bank that does not comply with the terms of such Letter of Credit; 

  (v) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might,
    but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of set-off against, the Borrower’s obligations hereunder; or 

  (vi) the existence of a Default or an Event of Default. 

  Neither the Administrative Agent, the Issuing Bank, any Lender nor any Related Party of any of the foregoing shall have any liability or
    responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to above), or any error, omission,
    interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms
    or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the Borrower to the extent of any actual direct damages (as opposed
    to special, indirect (including claims for lost profits or other consequential damages), or punitive damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are
    caused by the Issuing Bank’s failure to exercise due care when determining whether drafts or other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence
    or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised due care in each such determination. In furtherance of the foregoing and without
    limiting the generality thereof, the parties agree that, with respect to documents presented that appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and
    make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the
    terms of such Letter of Credit. 

  (j) Unless otherwise expressly agreed by the Issuing Bank and the Borrower when a Letter of Credit is
    issued and subject to applicable laws, (i) each standby Letter of Credit shall be governed by the “International Standby Practices 1998” (ISP98) (or such later revision as may be published by the Institute of International Banking Law & Practice on
    any date any Letter of Credit may be issued), (ii) each documentary Letter of Credit shall be governed by the Uniform Customs and Practices for Documentary Credits (2007 Revision), International Chamber of Commerce Publication No. 600 (or such later
    revision as may be published by the International Chamber of Commerce on any date any Letter of Credit may be issued) and (iii) the Borrower shall specify the foregoing in each letter of credit application submitted for the issuance of a Letter of
    Credit. 

   

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  Section 2.22. Mitigation of Obligations. If any Lender requests compensation under Section
    2.17, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.19, then such Lender shall use reasonable efforts to
    designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole judgment of such Lender, such designation or assignment
    (i) would eliminate or reduce amounts payable under Section 2.17 or Section 2.19, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not
    otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all costs and expenses incurred by any Lender in connection with such designation or assignment. 

  Section 2.23. Replacement of Lenders. If (a) any Lender requests
    compensation under Section 2.17, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.19, or (b) any
    Lender is a Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate (and such Lender shall be obligated to assign and delegate),
    without recourse (in accordance with and subject to the restrictions set forth in Section 10.4(b)), all of its interests, rights (other than its existing rights to payments pursuant to Section 2.17 or Section 2.19,
    as applicable) and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender); provided that (i) the Borrower shall have received the prior written consent of the Administrative
    Agent, which consent shall not be unreasonably withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal amount of all Loans owed to it, accrued interest thereon, accrued fees and all other amounts payable
    to it hereunder from the assignee (in the case of such outstanding principal and accrued interest) and from the Borrower (in the case of all other amounts), and (iii) in the case of a claim for compensation under Section 2.17 or
    payments required to be made pursuant to Section 2.19, such assignment will result in a reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a
    result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

  Section 2.24. Defaulting Lenders. 

  (a) Cash Collateral. 

  (i) At any time that there shall exist a Defaulting Lender, within one Business Day following the written
    request of the Administrative Agent or the Issuing Bank (with a copy to the Administrative Agent) the Borrower shall Cash Collateralize the Issuing Bank’s LC Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.24(b)(iv)
    and any Cash Collateral provided by such Defaulting Lender) in an amount not less than 105% of the Issuing Bank’s LC Exposure with respect to such Defaulting Lender. 

  (ii) The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby
    grants to the Administrative Agent, for the benefit of the Issuing Bank, and agrees to maintain, a first priority security interest (subject to Excepted Liens arising by operation of law) in all such Cash Collateral as security for the Defaulting
    Lenders’ obligation to fund participations in respect of Letters of Credit, to be applied pursuant to clause (iii) below. If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than
    the Administrative Agent and the Issuing Bank as herein provided (other than Excepted Liens arising by operation of law), or that the total amount of such Cash Collateral is less than the minimum amount required pursuant to clause (i) above, the
    Borrower will, promptly upon written demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by
    the Defaulting Lender). 

   

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    (iii) Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided
      under this Section 2.24(a) or Section 2.24(b) in respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations in respect of Letters of
      Credit or LC Disbursements (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be
      provided for herein. 

    (iv) Cash Collateral (or the appropriate portion thereof) provided to reduce any Issuing Bank’s LC
      Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.24(a) following (A) the elimination of the applicable LC Exposure (including by the termination of Defaulting Lender status of the
      applicable Lender), or (ii) the determination by the Administrative Agent and the Issuing Bank that there exists excess Cash Collateral (including following any subsequent reallocation among Non-Defaulting Lenders pursuant to Section 2.24(b)(iv));

      provided that, subject to Section 2.24(b) through (d) the Person providing Cash Collateral and each Issuing Bank may agree that Cash Collateral shall be held to support future anticipated LC Exposure or other obligations
      and provided further that to the extent that such Cash Collateral was provided by the Borrower, such Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents. 

    (b) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this
      Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

    (i) Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect
      to this Agreement shall be restricted as set forth in the definition of Required Lenders and in Section 10.2. 

    (ii) Any payment of principal, interest, fees or other amounts received by the Administrative Agent for
      the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 10.7 shall
      be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro
      rata basis of any amounts owing by such Defaulting Lender to the Issuing Bank hereunder; third, to Cash Collateralize the Issuing Bank’s LC Exposure with respect to such Defaulting Lender in accordance with Section 2.24(a);
      fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined
      by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations
      with respect to Loans under this Agreement and (y) Cash Collateralize the Issuing Banks’ future LC Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.24(a);
      sixth, to the payment of any amounts owing to the Lenders or the Issuing Bank as a result of any judgment of a court of competent jurisdiction obtained by any Lender or the Issuing Bank against such Defaulting Lender as a result of such
      Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event 

     

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     of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of
      competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court
      of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or LC Disbursements in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made or
      the related Letters of Credit were issued at a time when the conditions set forth in Section 3.2 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and LC Disbursements owed to, all
      Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or LC Disbursements owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations are held by
      the Lenders pro rata in accordance with their Commitments without giving effect to sub-section (iv) below. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a
      Defaulting Lender or to post Cash Collateral pursuant to this Section 2.24(b)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

    (iii) (A) No Defaulting Lender shall be entitled to receive any unused commitment fee pursuant to Section 2.13(b)
      for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

    (B) Each Defaulting Lender shall be entitled to receive letter of credit fees pursuant to Section 2.13(c)
      for any period during which that Lender is a Defaulting Lender only to the extent allocable to that portion of its LC Exposure for which it has provided Cash Collateral pursuant to Section 2.24(a). 

    (C) With respect to any unused commitment fee or letter of credit fee not required to be paid to any
      Defaulting Lender pursuant to clause (A) or (B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in Letters
      of Credit that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to each Issuing Bank the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to the Issuing Bank’s LC
      Exposure with respect to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

    (iv) All or any part of such Defaulting Lender’s participation in Letters of Credit shall be reallocated
      among the Non-Defaulting Lenders in accordance with their respective Pro Rata Shares of the Commitments (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that (x) the conditions set forth in Section 3.2
      are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise notified the Administrative Agent at such time, the Borrower shall be deemed to have represented and warranted that such conditions are satisfied at such
      time), and (y) such reallocation does not cause the aggregate Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment. No reallocation hereunder shall constitute a waiver or release of any claim of any party
      hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non- Defaulting Lender’s increased
      exposure following such reallocation. 

     

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  (v) If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the
    Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the Issuing Banks’ LC Exposure with respect to such Defaulting Lender in accordance with the procedures set forth in Section 2.24(a).
  

  (c) Defaulting Lender Cure. If the Borrower, the Administrative Agent and Issuing Bank agree in
    writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include
    arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary
    to cause the Loans and funded and unfunded participations in Letters of Credit to be held pro rata by the Lenders in accordance with the applicable Commitments (without giving effect to Section 2.24(b)(iv)), whereupon such Lender
    will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to
    the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

  (d) New Letters of Credit. So long as any Lender is a Defaulting Lender, no Issuing Bank shall be
    required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no LC Exposure in respect of that Defaulting Lender after giving effect thereto following such Issuing Bank’s obligations as provided in this Section 2.24;
    provided, however, if the Borrower has Cash Collateralized the Issuing Bank’s LC Exposure with respect to such Defaulting Lender in the amount of 105% as provided in Section 2.24(a) hereof, or if the Borrower, Administrative Agent
    and Issuing Bank agree in writing that a Lender is no longer a Defaulting Lender as provided in Section 2.24(c) hereof, this Section 2.24(d) shall not be interpreted to terminate or suspend the Issuing Bank’s
    obligation, if any, to issue, extend, renew or increase any Letter of Credit otherwise permitted under and subject to the terms of this Agreement. 

  ARTICLE III 

  CONDITIONS PRECEDENT TO LOANS AND LETTERS OF CREDIT 

  Section 3.1. Conditions to Effectiveness. The obligations of the Lenders
    to make the initial Loan and the obligation of the Issuing Bank to issue the initial Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 10.2):

  

  (a) The Administrative Agent shall have received payment of all fees, expenses and other amounts due and
    payable on or prior to the Closing Date by Section 2.13(a) and Section 10.3 or any other provision of a Loan Document. 

  (b) The Administrative Agent (or its counsel) shall have received the following, each to be in form and
    substance satisfactory to the Administrative Agent: 

  (i) a counterpart of this Agreement signed by or on behalf of each party hereto or written evidence
    satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement; 

   

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    (ii) a certificate of a Responsible Officer of each Loan Party dated as of the Closing Date, attaching
      and certifying copies of its bylaws, or partnership agreement or limited liability company agreement, and of the resolutions of its board of directors or other equivalent governing body, or comparable organizational documents and authorizations,
      authorizing the execution, delivery and performance of the Loan Documents to which it is a party and certifying the name, title and true signature of each officer of such Loan Party executing the Loan Documents to which it is a party; 

    (iii) certified copies of the articles or certificate of incorporation, certificate of organization or
      limited partnership, or other registered organizational documents of each Loan Party, together with certificates of good standing or existence, as may be available from the Secretary of State of the jurisdiction of organization of such Loan Party and
      each other jurisdiction where such Loan Party is required to be qualified to do business as a foreign corporation, each dated as of a recent date; 

    (iv) a favorable written opinion of di Santo Law, counsel to the Loan Parties, and Mani Little &
      Wortmann PLLC, special Texas counsel to the Loan Parties, each dated as of the Closing Date addressed to the Administrative Agent, the Issuing Bank and each of the Lend- ers, and covering such matters
      relating to the Loan Parties, the Loan Documents and the transactions contemplated therein as the Administrative Agent or the Required Lenders shall reasonably request (which opinions will expressly permit reliance by permitted successors and assigns
      of the Administrative Agent, the Issuing Bank and the Lenders); 

    (v) a certificate dated the Closing Date and signed by a Responsible Officer, certifying that after
      giving effect to the funding of any initial Borrowing, (x) no Default or Event of Default has occurred and is continuing, (y) all representations and warranties of each Loan Party set forth in the Loan Documents are true and correct in all material
      respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on such date, except that any representation and warranty which
      by its terms is made as of a specified date shall be required to be true and correct only as of such specified date, and (z) since the date of the financial statements of the Borrower described in Section 4.4, there shall have
      been no change which has had or could reasonably be expected to have a Material Adverse Effect; 

    (vi) a duly executed Notice of Borrowing for any initial Borrowing; 

    (vii) a certificate dated the Closing Date and signed by a Responsible Officer, (A) certifying that
      (1) all consents, approvals, authorizations, registrations and filings and orders (“Consents”) as of the Closing Date required to be made or obtained under any Requirement of Law, or by any Contractual Obligation of any Loan Party, in
      connection with the execution, delivery, performance, validity and enforceability of the Loan Documents or any of the transactions contemplated thereby have been obtained, (2) such Consents, are in full force and effect and all applicable waiting
      periods have expired, and no investigation or inquiry by any governmental authority regarding the Commitments or any transaction being financed with the proceeds thereof, which would impose adverse conditions on the Agreement, is, to the knowledge of
      the Borrower, ongoing and (3) attached thereto is a true and correct copy of all such Consents or (B) certifying that no such Consents are required; 

     

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  (viii) copies of (A) the internally prepared quarterly financial statements of the Borrower and its
    Subsidiaries on a consolidated basis for the Fiscal Quarter ended June 30, 2017 in form and substance reasonably acceptable to the Administrative Agent (together with any supporting data reasonably requested by the Administrative Agent) and (B) the
    audited consolidated financial statements for the Borrower and its Subsidiaries for the Fiscal Year ended September 30, 2016; 

  (ix) a certificate, dated the Closing Date and signed by the chief financial officer of each Loan Party,
    confirming that each Loan Party is Solvent before and after giving effect to the funding of any initial Borrowing and the consummation of the transactions contemplated to occur on the Closing Date; 

  (x) the Guaranty and Security Agreement, duly executed by the Borrower and each of its Subsidiaries,
    together with (A) UCC financing statements and other applicable documents under the laws of all necessary or appropriate jurisdictions with respect to the perfection of the Liens granted under the Guaranty and Security Agreement, as requested by the
    Administrative Agent in order to perfect such Liens, duly authorized by the Loan Parties, (B) copies of favorable UCC, tax, judgment, fixture and real property lien search reports in all necessary or appropriate jurisdictions and under all legal and
    trade names of the Loan Parties, as reasonably requested by the Administrative Agent, indicating that there are no Liens on any of the Collateral other than Excepted Liens and Liens to be released on the Closing Date, (C) original certificates
    evidencing all issued and outstanding shares of Capital Stock of all Subsidiaries owned directly by any Loan Party (for any such Subsidiaries that are certificated), together with stock or membership interest powers or other appropriate instruments of
    transfer executed in blank and (D) acknowledgements with respect to pledged equity interests other than stock of a corporation, duly executed by the issuer of such equity interests and the Borrower; 

  (xi) Mortgages duly executed by each applicable Loan Party and evidence satisfactory to the Administrative
    Agent that such Mortgages create a first-priority Lien (subject only to Liens permitted by Section 7.2), covering at least ninety percent (90%) of the present value of the proved Oil and Gas Properties of the Loan Parties
    evaluated by the Initial Reserve Report; 

  (xii) Transfer Letters as may be required by the Administrative Agent, duly executed by each Loan Party
    that executes a Mortgage; 

  (xiii) Control Account Agreements, duly executed by each of the Administrative Agent, SunTrust Bank, as
    depository bank, and the applicable Loan Party; 

  (xiv) title information setting forth evidence of satisfactory title on the proved Oil and Gas Properties
    of Loan Parties as requested by the Administrative Agent representing not less than ninety percent (90%) of the present value of all proved Oil and Gas Properties evaluated in the Initial Reserve Report provided by the Borrower (based on the value
    given such proved reserves in the initial Borrowing Base), which shall be in form and substance satisfactory to the Administrative Agent; 

  (xv) true, accurate and complete copies of all Material Agreements; 

  (xvi) certificates of insurance, in form and detail acceptable to the Administrative Agent, describing in
    reasonable detail the types and amounts of insurance (property and liability) maintained by any of the Loan Parties, in each case naming the Administrative Agent as loss payee on property and casualty policies or additional insured on liability
    insurance policies, as the case may be, together with a lender’s loss payable endorsement on property and casualty policies in form and substance satisfactory to the Administrative Agent; 

   

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    (xvii) to the extent reasonably requested by the Administrative Agent, due diligence information
      satisfactory to the Administrative Agent regarding the Borrower and its Subsidiaries including information regarding legal matters, tax matters, accounting matters, business matters, financial matters, insurance matters, labor matters, ERISA matters,
      pension liabilities (actual or contingent), material contracts, debt agreements, property ownership, contingent liabilities and other legal matters of the Borrower and its Subsidiaries; 

    (xviii) at least five (5) Business Days prior to the Closing Date, to the extent requested by any Lender
      or the Administrative Agent, all documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act; 

    (xix) The Administrative Agent shall have received the Initial Reserve Report accompanied by the
      certificate described in Section 5.13(c); and 

    (xx) such other documents, certificates or information as the Administrative Agent or the Required
      Lenders shall have reasonably requested. 

    Without limiting the generality of the provisions of this Section, for purposes of determining compliance with the
      conditions specified in this Section, each Lender that has signed this Credit Agreement shall be deemed to have consented to, approved of, accepted or been satisfied with each document or other matter required thereunder to be consented to, approved
      by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 

    Section 3.2. Conditions to Each Credit Event. The obligation of each
      Lender to make a Loan on the occasion of any Borrowing and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit is subject to Section 2.24(c) and the satisfaction (or waiver) of the following conditions on
      the date of such Borrowing or such issuance, increase, renewal or extension: 

    (a) at the time of and immediately after giving effect to such Borrowing or the issuance, amendment,
      renewal or extension of such Letter of Credit, as applicable, no Default, Event of Default or Borrowing Base Deficiency shall exist and be continuing; 

    (b) at the time of and immediately after giving effect to such Borrowing or the issuance, amendment,
      renewal or extension of such Letter of Credit, as applicable, all representations and warranties of each Loan Party set forth in the Loan Documents shall be true and correct in all material respects (except that such materiality qualifier shall not
      be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on such date, except that any representation and warranty which by its terms is made as of a specified date shall be
      required to be true and correct only as of such specified date; 

    (c) no Material Adverse Effect has occurred and is continuing; 

    (d) in the case of a Borrowing, the Borrower shall have delivered the required Notice of Borrowing; 

     

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  (e) in the case of a Borrowing, after giving pro forma effect to the use of proceeds from such Borrowing,
    such Borrowing would not otherwise cause the Loan Parties to have any Excess Cash, except as permitted by and subject to the provisions of this Agreement; and 

  (f) the Administrative Agent shall have received such other documents or certificates from the Borrower as
    the Administrative Agent or the Required Lenders may reasonably request, all in form and substance reasonably satisfactory to the Administrative Agent or the Required Lenders. 

  Each Borrowing and each issuance, amendment, renewal or extension of any Letter of Credit shall be deemed to constitute a
    representation and warranty by the Borrower on the date thereof as to the matters specified in subsections (a), (b), (c) and (e) of this Section. 

  Section 3.3. Delivery of Documents. All of the Loan Documents,
    certificates, legal opinions and other documents and papers referred to in this Article, unless otherwise specified, shall be delivered to the Administrative Agent for the account of each of the Lenders and in sufficient counterparts or copies for each
    of the Lenders and shall be in form and substance satisfactory in all respects to the Administrative Agent. 

  ARTICLE IV 

  REPRESENTATIONS AND WARRANTIES 

  The Borrower represents and warrants to the Administrative Agent, each Lender and the Issuing Bank as follows: 

  Section 4.1. Existence; Power. The Borrower and each of its Subsidiaries
    (i) is duly organized, validly existing and in good standing as a corporation, partnership or limited liability company under the laws of the jurisdiction of its organization, (ii) has all requisite corporation, partnership or limited liability company
    power and authority to carry on its business as now conducted, and (iii) is duly qualified to do business, and is in good standing, in each jurisdiction where such qualification is required, except where a failure to be so qualified could not
    reasonably be expected to have a Material Adverse Effect. 

  Section 4.2. Organizational Power; Authorization. The execution, delivery
    and performance by each Loan Party of the Loan Documents to which it is a party are within such Loan Party’s organizational powers and have been duly authorized by all necessary organizational and, if required, shareholder, partner or member action.
    This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document to which any Loan Party is a party, when executed and delivered by such Loan Party, will constitute, valid and binding obligations of the
    Borrower or such Loan Party (as the case may be), enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of
    creditors’ rights generally and by general principles of equity. 

  Section 4.3. Governmental Approvals; No Conflicts.
    The execution, delivery and performance by each Loan Party of the Loan Documents to which it is a party (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except those as have
    been obtained or made and are in full force and effect and except for filings necessary to perfect or maintain perfection of the Liens created under the Loan Documents, (b) will not violate any Requirement of Law applicable to the Borrower or any of
    its Subsidiaries or any judgment, 

   

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     order or ruling of any Governmental Authority which could reasonably be expected to have a Material Adverse Effect, (c) will not violate
      or result in a default under (i) the Company Operating Agreement of the Borrower or any organizational document of any of its Subsidiaries or (ii) any Contractual Obligation of the Borrower or any of its Subsidiaries or any of its assets or give rise
      to a right thereunder to require any payment to be made by the Borrower or any of its Subsidiaries which could reasonably be expected to have a Material Adverse Effect and (d) will not result in the creation or imposition of any Lien on any asset of
      the Borrower or any of its Subsidiaries, except Liens (if any) created under the Loan Documents. 

    Section 4.4. Financial Statements. The Borrower has furnished to each
      Lender (i) the audited consolidated balance sheet of the Borrower and its Subsidiaries as of September 30, 2016, and the related audited consolidated statements of income, shareholders’ equity and cash flows for the Fiscal Year then ended, prepared
      by BDO USA, LLP and (ii) the unaudited consolidated balance sheet of the Borrower and its Subsidiaries as of June 30, 2017, and the related unaudited consolidated statements of income and cash flows for the Fiscal Quarter and year-to-date period then
      ended, certified by a Responsible Officer. Such financial statements fairly present, in all material respects, the consolidated financial position of the Borrower and its Subsidiaries as of such dates and the consolidated results of operations for
      such periods in conformity with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the unaudited quarterly statements referred to in clause (ii). Since September 30, 2016, there have been no changes with respect
      to the Borrower and its Subsidiaries which have had or could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

    Section 4.5. Litigation and Environmental Matters. 

    (a) No litigation, investigation or proceeding of or before any arbitrators or Governmental Authorities
      is pending against or, to the knowledge of the Borrower, threatened in writing against or affecting the Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination that could reasonably be
      expected to have, either individually or in the aggregate, a Material Adverse Effect or (ii) which in any manner draws into question the validity or enforceability of this Agreement or any other Loan Document. 

    (b) Except for the matters set forth on Schedule 4.5 or as could not reasonably be expected to
      have a Material Adverse Effect: 

    (i) neither the Loan Party, its Properties nor its operations conducted thereon violate any applicable
      Environmental Laws; 

    (ii) each Loan Party has obtained all Environmental Permits required for its operations and each of its
      Properties, with all such Environmental Permits being currently in full force and effect, and no Loan Party has received any written notice or otherwise has knowledge that any such existing Environmental Permit will be revoked or that any application
      for any new Environmental Permit or renewal of any existing Environmental Permit will be protested or denied; 

    (iii) there are no claims, demands, suits, orders, investigations, or proceedings concerning any
      violation of, or any Environmental Liability (including as a potentially responsible party) under, any applicable Environmental Laws that is pending or, to any Loan Party’s knowledge, threatened against any Loan Party or any of its Properties or, to
      any Loan Party’s knowledge, as a result of any operations at such Properties; 

     

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  (iv) to the knowledge of each Loan Party, all hazardous substances, solid waste and oil and gas waste, if
    any, generated at any and all Property of each Loan Party or any Subsidiary have in the past been transported, treated and disposed of in accordance with Environmental Laws and so as not to pose an imminent and substantial endangerment to public health
    or welfare or the environment, and in transporting, treating or disposing of the same all such transport carriers and treatment and disposal facilities have been and are operating in compliance with Environmental Laws so as not to pose an imminent and
    substantial endangerment to public health or welfare or the environment, and are not the subject of any existing, pending or, to the knowledge of any Loan Party, threatened action, investigation or inquiry by any Governmental Authority in connection
    with any Environmental Laws; 

  (v) there has been no Release or, to any Loan Party’s knowledge, threatened Release, of Hazardous Materials
    at, on, under or from any Loan Party’s Properties except in compliance with Environmental Laws and so as not to pose an imminent and substantial endangerment to public health or welfare or the environment, and to the knowledge of any Loan Party; 

  (vi) no Loan Party has received any written notice asserting an alleged Environmental Liability or
    obligation under any applicable Environmental Laws with respect to the investigation, remediation, abatement, removal, or monitoring of any Hazardous Materials at, under, or Released or threatened to be Released from any real properties offsite from
    any Loan Party’s Properties and there are no conditions or circumstances that could reasonably be expected to result in the receipt of such written notice; and 

  (vii) each Loan Party has provided to the Administrative Agent complete and correct copies of all material
    environmental site assessment reports, investigations, studies, analyses, and correspondence on environmental matters (including matters relating to any alleged non-compliance with or liability under Environmental Laws) that are in any Loan Party’s
    possession or control and relating to their respective Properties or operations thereon. 

  Section 4.6. Compliance with Laws and Agreements. The Borrower and each
    of its Subsidiaries is in compliance with (a) all Requirements of Law and all judgments, decrees and orders of any Governmental Authority applicable to it and (b) all indentures, agreements or other instruments binding upon it or its properties, except
    where non-compliance, either individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

  Section 4.7. Investment Company Act. Neither the Borrower nor any of its
    Subsidiaries is (a) an “investment company” or is “controlled” by an “investment company”, as such terms are defined in, or subject to regulation under, the Investment Company Act of 1940, as amended and in effect from time to time, or (b) otherwise
    subject to any other regulatory scheme limiting its ability to incur debt or requiring any approval or consent from, or registration or filing with, any Governmental Authority in connection therewith. 

  Section 4.8. Taxes. The Borrower and its Subsidiaries have timely filed
    or caused to be filed all Federal income tax returns and all other material tax returns that are required to be filed by them (after giving effect to any extension granted in the time for filing), and have paid all taxes shown to be due and payable on
    such returns or on any assessments made against it or its property and all other taxes, fees or other charges imposed on it or any of its property by any Governmental Authority, except where the same are currently being contested in good faith by
    appropriate proceedings and for which the Borrower or such Subsidiary, as the case may be, has set aside on its books adequate reserves in accordance with GAAP. The charges, accruals and reserves on the books of the Borrower and its Subsidiaries in
    respect of such taxes are adequate (in all material respects), and as of the date hereof no material tax liabilities in excess of the amount so provided are anticipated. Neither the Borrower nor any of its Subsidiaries has 

   

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     any obligation to pay or to its knowledge has any liability with respect to any of their Affiliates’ tax liability (other than the
      Borrower or its Subsidiaries). No tax Lien has been filed and, to the knowledge of any Loan Party, no claim is being asserted with respect to any such tax or other such governmental charge. 

    Section 4.9. Margin Regulations. None of the proceeds of any of the
      Loans or Letters of Credit will be used, directly or indirectly, for “purchasing” or “carrying” any “margin stock” within the respective meanings of each of such terms under Regulation U or for any purpose that violates the provisions of Regulation
      T, Regulation U or Regulation X. Neither the Borrower nor any of its Subsidiaries 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”. 

    Section 4.10. ERISA. Except for matters that could not reasonably be
      expected to result in a Material Adverse Effect, each Plan is in substantial compliance in form and operation with its terms and with ERISA and the Code (including, without limitation, the Code provisions compliance with which is necessary for any
      intended favorable tax treatment) and all other applicable laws and regulations. Each Plan (and each related trust, if any) which is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter from the
      Internal Revenue Service to the effect that it meets the requirements of Sections 401(a) and 501(a) of the Code covering all applicable tax law changes, or is comprised of a master or prototype plan that has received a favorable opinion letter from
      the Internal Revenue Service, and nothing has occurred since the date of such determination that would adversely affect such determination (or, in the case of a Plan with no determination, nothing has occurred that would adversely affect the issuance
      of a favorable determination letter or otherwise adversely affect such qualification), except as could not reasonably be expected to result in a Material Adverse Effect. No ERISA Event in respect to any Plan has occurred or is reasonably expected to
      occur. There exists no Unfunded Pension Liability with respect to any Plan. None of the Borrower, any of its Subsidiaries or any ERISA Affiliate, in respect to any Plan of the Borrower or any of its Subsidiaries, is making or accruing an obligation
      to make contributions, or has, within any of the five calendar years immediately preceding the date this assurance is given or deemed given, made or accrued an obligation to make, contributions to any Multiemployer Plan. There are no actions, suits
      or claims pending against or involving a Plan (other than routine claims for benefits) or, to the knowledge of the Borrower, any of its Subsidiaries or any ERISA Affiliate, threatened, which would reasonably be expected to be asserted successfully
      against any Plan and, if so asserted successfully, would reasonably be expected either singly or in the aggregate to result in a Material Adverse Effect. The Borrower, each of its Subsidiaries and each ERISA Affiliate have made all contributions to
      or under each Plan and Multiemployer Plan required by law within the applicable time limits prescribed thereby, by the terms of such Plan or Multiemployer Plan, respectively, or by any contract or agreement requiring contributions to a Plan or
      Multiemployer Plan, except as could not reasonably be expected to result in a Material Adverse Effect. No Plan which is subject to Section 412 of the Code or Section 302 of ERISA has applied for or received an extension of any amortization period
      within the meaning of Section 412 of the Code or Section 303 or 304 of ERISA, except as could not reasonably be expected to result in a Material Adverse Effect. None of the Borrower, any of its Subsidiaries or any ERISA Affiliate have ceased
      operations at a facility so as to become subject to the provisions of Section 4068(a) of ERISA, withdrawn as a substantial employer so as to become subject to the provisions of Section 4063 of ERISA or ceased making contributions to any Plan subject
      to Section 4064(a) of ERISA to which it made contributions, except as could not reasonably be expected to result in a Material Adverse Effect. 

    Section 4.11. Ownership of Property; Insurance. 

    (a) Each Loan Party has good and Defensible Title to its respective proved Oil and Gas Properties
      evaluated in the most recently delivered Reserve Report and good title to, or valid 

     

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     leasehold interests in, all of its personal Properties in all material respects necessary or used in the ordinary course
      of its business, in each case free and clear of Liens prohibited by this Agreement under Section 7.2. After giving full effect to the Excepted Liens, each Loan Party specified as the owner owns the net interests in production
      attributable to the Hydrocarbon Interests as reflected in the most recently delivered Reserve Report as of the date of such Reserve Report (subject to any Asset Sales in compliance with Section 7.6 since delivery of such Reserve
      Report), and after giving full effect to Excepted Liens, the ownership of such Properties shall not in any material respect obligate such Loan Party to bear the costs and expenses relating to the maintenance, development and operations of each such
      proved Oil and Gas Property in an amount in excess of the working interest of such Property set forth in the most recently delivered Reserve Report that is not offset by a corresponding proportionate increase in such Loan Party’s net revenue interest
      in such proved Oil and Gas Property. 

    (b) All material leases and agreements necessary for the conduct of the business of each Loan Party are
      valid and subsisting, in full force and effect, and there exists no material default or event or circumstance which with the giving of notice or the passage of time or both would give rise to a material default under any such lease or agreement. 

    (c) The rights and Properties presently owned, leased or licensed by each Loan Party including, without
      limitation, all easements and rights of way, include all rights and Properties reasonably necessary to permit each Loan Party to conduct its business in all material respects in the same manner as its business has been conducted prior to the date
      hereof. 

    (d) Except as could not reasonably be expected to have a Material Adverse Effect, the proved Oil and Gas
      Properties (and Properties unitized therewith) of each Loan Party have been maintained, operated and developed in a good and workmanlike manner and in conformity with all Requirements of Law and in conformity with the provisions of all leases,
      subleases or other contracts comprising a part of the Hydrocarbon Interests and other contracts and agreements forming a part of the proved Oil and Gas Properties of such Loan Party. Specifically in connection with the foregoing, except as could not
      reasonably be expected to have a Material Adverse Effect (i) no proved Oil and Gas Property of any Loan Party is subject to having allowable production reduced below the full and regular allowable (including the maximum permissible tolerance) because
      of any overproduction (whether or not the same was permissible at the time) and (ii) none of the wells comprising a part of the proved Oil and Gas Properties (or Properties unitized therewith) of any Loan Party is deviated from the vertical more than
      the maximum permitted by Requirements of Law, and such wells are, in fact, bottomed under and are producing from, and the well bores are wholly within, the proved Oil and Gas Properties (or in the case of wells located on Properties unitized
      therewith, such unitized Properties) of such Loan Party. Except as could not reasonably be expected to have a Material Adverse Effect, all pipelines, wells, gas processing plants, platforms and other material improvements, fixtures and equipment
      owned in whole or in part by each Loan Party that are necessary to conduct normal operations are being maintained in a state adequate to conduct normal operations, and with respect to such of the foregoing which are operated by such Loan Party, in a
      manner consistent with such Loan Party’s past practices. 

    (e) Each Loan Party owns, or is licensed or otherwise has the right to use, all patents, trademarks,
      service marks, trade names, copyrights and other intellectual property necessary to operate its business, and the use thereof by such Loan Party does not infringe on the rights of any other Person, except as could not reasonably be expected to have a
      Material Adverse Effect. Each Loan Party either owns or has valid licenses or other rights to use all databases, geological data, geophysical data, engineering data, seismic data, maps, interpretations and other technical 

     

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     information used in its business as presently conducted, subject to the limitations contained in the agreements governing
      the use of the same, which limitations are customary for companies engaged in the business of the exploration and production of Hydrocarbons except as could not reasonably be expected to have a Material Adverse Effect. 

    (f) Each Loan Party has (i) all insurance policies sufficient for the compliance by it with all
      Requirements of Law and all agreements including Flood Insurance, if so required and (ii) insurance coverage in at least amounts and against such risk (including, without limitation, public liability) that are usually insured against by companies
      similarly situated and engaged in the same or a similar business for the assets and operations of such Loan Party, which are set forth on Schedule 4.11. The Administrative Agent has been named as additional insured in respect of such
      liability insurance policies containing loss payable clauses and the Administrative Agent has been named as loss payee with respect to such Property loss insurance, in each case, in its capacity as Administrative Agent. 

    Section 4.12. Disclosure. The Borrower has disclosed or made available
      to Administrative Agent and the Lenders all agreements, instruments, and corporate or other restrictions to which the Borrower or any of its Subsidiaries is subject, and all other matters known to any of them, that, either individually or in the
      aggregate, could reasonably be expected to result in a Material Adverse Effect. None of the reports, financial statements, certificates or other information furnished by or on behalf of the Borrower to the Administrative Agent or any Lender in
      connection with the negotiation or syndication of this Agreement or any other Loan Document or delivered hereunder or thereunder (as modified or supplemented by any other information so furnished) contains any untrue statement of a material fact or
      omits to state any material fact necessary to make the statements therein, taken as a whole in light of the circumstances under which they were made, not materially misleading; provided that, with respect to projected financial information,
      the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time furnished (it being understood that such projections are subject to significant uncertainties and contingencies
      and that no assurance can be given that any particular projection will be realized and that actual results may differ and such differences may be material). 

    Section 4.13. Labor Relations. There are no strikes, lockouts or other
      material labor disputes or grievances against the Borrower or any of its Subsidiaries, or, to the Borrower’s knowledge, threatened against or affecting the Borrower or any of its Subsidiaries, and no significant unfair labor practice charges or
      grievances are pending against the Borrower or any of its Subsidiaries, or, to the Borrower’s knowledge, threatened against any of them before any Governmental Authority. All payments due from the Borrower or any of its Subsidiaries pursuant to the
      provisions of any collective bargaining agreement have been paid or accrued as a liability on the books of the Borrower or any such Subsidiary, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

    Section 4.14. Subsidiaries. Schedule 4.14 sets forth the name
      of, the ownership interest of the applicable Loan Party in, the jurisdiction of incorporation or organization of, and the type of each Subsidiary of the Borrower and the other Loan Parties and identifies each Subsidiary that is a Subsidiary Loan
      Party, in each case as of the Closing Date. Each Subsidiary of a Loan Party is a wholly owned Subsidiary. 

    Section 4.15. Solvency. After giving effect to the execution and delivery of the Loan
      Documents and the making of the Loans under this Agreement, each Loan Party is Solvent. 

     

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  Section 4.16. Deposit and Disbursement Accounts. Schedule 4.16 lists all banks
    and other financial institutions at which any Loan Party maintains deposit accounts, lockbox accounts, disbursement accounts, investment accounts or other similar accounts as of the Closing Date, and such Schedule correctly identifies the name, address
    and telephone number of each financial institution, the name in which the account is held, the type of the account, and the complete account number therefor. 

  Section 4.17. Collateral Documents. 

  (a) Following the due execution and delivery of the Collateral Documents (other than the Mortgages)
    required to be executed and delivered by this Agreement, when UCC financing statements in appropriate form are filed in the appropriate governmental offices, the Administrative Agent shall have a valid and perfected first priority security interest in
    the Collateral (as defined therein) (to the extent that such security interest can be perfected by execution and delivery of the Collateral Documents and/or recording of the UCC financing statements), free and clear of all Liens other than with respect
    to Liens expressly permitted by Section 7.2. When the certificates evidencing all Capital Stock of Subsidiaries of the Borrower pledged pursuant to the Guaranty and Security Agreement are delivered to the Administrative Agent,
    together with appropriate stock powers or other similar instruments of transfer duly executed in blank, the Liens in such Capital Stock shall be duly perfected first priority security interests, perfected by “control” as defined in the UCC to the
    extent capable of being perfected by delivery of such applicable financing statements. 

  (b) Each Mortgage, when duly executed and delivered by the relevant Loan Party and properly filed in the
    real estate records where the Mortgaged Property covered thereby is located, shall constitute a valid and perfected first priority Lien on, and security interest in all of such Loan Party’s right, title and interest in and to the Mortgaged Property of
    such Loan Party covered thereby and the proceeds thereof (to the extent that such Mortgage can be perfected by execution, delivery and/or filing of such Mortgage), other than with respect to Liens expressly permitted by Section 7.2.
  

  (c) No Loan Party owns any Building (as defined in the applicable Flood Insurance Law) or Manufactured
    (Mobile) Home (as defined in the applicable Flood Insurance Law) for which such Loan Party has not delivered to the Administrative Agent evidence reasonably satisfactory to the Administrative Agent that (a) such Loan Party maintains Flood Insurance for
    such Building or Manufactured (Mobile) Home or (b) such Building or Manufactured (Mobile) Home is not located in a Special Flood Hazard Area. 

  Section 4.18. Restriction on Liens. No Loan Party is a party to any
    agreement or arrangement (other than Capital Leases creating Liens permitted by Section 7.2(d), but then only on the Property subject of such Capital Lease), or subject to any order, judgment, writ or decree, which either
    restricts or purports to restrict its ability to grant Liens to the Administrative Agent for the benefit of the Secured Parties on or in respect of its Properties to secure the Obligations and the Loan Documents. 

  Section 4.19. Material Agreements. As of the Closing Date, all Material
    Agreements of the Borrower and its Subsidiaries are listed on Schedule 4.19, and each such Material Agreement is in full force and effect. The Borrower does not have any knowledge of any pending amendments or threatened termination of any of
    the Material Agreements. As of the Closing Date, the Borrower has delivered to the Administrative Agent a true, complete and correct copy of each Material Agreement (including all schedules, exhibits, amendments, supplements, modifications, assignments
    and all other documents delivered pursuant thereto or in connection therewith). 

   

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    Section 4.20. OFAC; Foreign Corrupt Practices Act. 

    (a) Neither any Loan Party nor any of its Subsidiaries or Affiliates (i) is a Sanctioned Person, (ii) has
      any of its assets in Sanctioned Countries, or (iii) derives any of its operating income from investments in, or transactions with, Sanctioned Persons or Sanctioned Countries. The Loan Parties and their respective directors, officers and employees
      and, to the knowledge of the Borrower, the agents of the Loan Parties, are in compliance with applicable Anti-Corruption Laws and applicable Sanctions in all material respects and the Borrower and its Subsidiaries have instituted and maintain
      policies and procedures designed to ensure continued compliance therewith. 

    (b) No part of the proceeds of any Loans hereunder will be used directly or indirectly to fund any
      operations in, finance any investments or activities in or make any payments to a Sanctioned Person or a Sanctioned Country or for any payments to any governmental official or employee, political party, official of a political party, candidate for
      political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of applicable Anti-Corruption Laws. 

    Section 4.21. Patriot Act. Neither any Loan Party nor any of its
      Subsidiaries is an “enemy” or an “ally of the enemy” within the meaning of Section 2 of the Trading with the Enemy Act or any enabling legislation or executive order relating thereto. Neither any Loan Party nor any or its Subsidiaries is in violation
      of (a) the Trading with the Enemy Act, (b) any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto or
      (c) the Patriot Act. None of the Loan Parties (i) is a blocked person described in Section 1 of the Anti-Terrorism Order or (ii) to the best of its knowledge, engages in any dealings or transactions, or is otherwise associated, with any such blocked
      person. 

    Section 4.22. Gas Imbalances; Prepayments. Except as set forth on Schedule
        4.22 or on the most recent certificate delivered pursuant to Section 5.13(c), to the Borrower’s knowledge, on a net basis there are no gas imbalances, take or pay or other prepayments with respect to the Loan Parties’
      proved Oil and Gas Properties which would require the Loan Parties to deliver Hydrocarbons produced from their proved Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor exceeding two percent (2%) of
      the value of the proved, developed, producing Oil and Gas Properties as set forth on the most recent Reserve Report delivered pursuant to the terms of this Agreement in the aggregate. 

    Section 4.23. Marketing of Production. Except for contracts listed and
      in effect on the date hereof on Schedule 4.23, and thereafter either disclosed in writing to the Administrative Agent or included in the most recently delivered Reserve Report (with respect to all of which contracts each Loan Party represents
      it is receiving a price for all production sold thereunder which is computed substantially in accordance with the terms of the relevant contract and are not having deliveries curtailed substantially below the subject Property’s delivery capacity), no
      material agreements exist which are not cancelable on sixty (60) days’ notice or less without penalty or detriment for the sale of production from any Loan Party’s Hydrocarbons (including, without limitation, calls on or other rights to purchase,
      production, whether or not the same are currently being exercised) that (i) pertain to the sale of production at a fixed price and (ii) have a maturity or expiry date of longer than six (6) months from the date hereof. 

    Section 4.24. Hedging Transactions and Qualified ECP Guarantor. Schedule
        4.24, as of the date hereof, and after the date hereof, each report required to be delivered by the Borrower pursuant to Section 5.1(d), sets forth, a true and complete list of all Hedging Transactions of each Loan Party,
      the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net mark to market value thereof, all credit support agreements relating thereto (including any margin required or supplied)
      and the counterparty to each such agreement. The Borrower and each Guarantor is a Qualified ECP Guarantor. 

     

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    Section 4.25. EEA Financial Institutions. No Loan Party is an EEA Financial
      Institution. 

    ARTICLE V  

    AFFIRMATIVE COVENANTS 

    The Borrower covenants and agrees that so long as any Lender has a Commitment hereunder or any Obligation remains unpaid
      or outstanding: 

    Section 5.1. Financial Statements and Other Information. The Borrower will deliver to
      the Administrative Agent and each Lender: 

    (a) as soon as available and in any event within 90 days after the end of each Fiscal Year of the
      Borrower, a copy of the annual audited report for such Fiscal Year for the Borrower and its Subsidiaries, containing a consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such Fiscal Year and the related consolidated
      statements of income, stockholders’ equity and cash flows (together with all footnotes thereto) of the Borrower and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the figures for the previous Fiscal Year, all in
      reasonable detail and reported on by BDO USA, LLP or other independent public accountants of nationally recognized standing (without a “going concern” or like qualification, exception or explanation and without any qualification or exception as to
      the scope of such audit) to the effect that such financial statements present fairly in all material respects the financial position and the results of operations of the Borrower and its Subsidiaries for such Fiscal Year on a consolidated basis in
      accordance with GAAP and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards; 

    (b) as soon as available and in any event within 45 days after the end of each Fiscal Quarter of the
      Borrower, an unaudited consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such Fiscal Quarter and the related unaudited consolidated statements of income and cash flows of the Borrower and its Subsidiaries for such
      Fiscal Quarter and the then elapsed portion of such Fiscal Year and, commencing on December 31, 2017, together with comparative figures for the corresponding Fiscal Quarter and the corresponding portion of the Borrower’s previous Fiscal Year; 

    (c) concurrently with the delivery of the financial statements referred to in subsections (a) and (b) of
      this Section (other than the financial statements for the fourth Fiscal Quarter of each Fiscal Year delivered pursuant to subsection (b) of this Section), a Compliance Certificate signed by the principal executive officer or the principal financial
      officer of the Borrower (i) certifying as to whether there exists and is continuing a Default or Event of Default on the date of such certificate and, if such a Default or an Event of Default then exists, specifying the details thereof and the action
      which the Borrower has taken or proposes to take with respect thereto, (ii) setting forth in reasonable detail calculations demonstrating compliance with the financial covenants set forth in Article VI, (iii) specifying any change in the
      identity of the Subsidiaries as of the end of such Fiscal Year or Fiscal Quarter from the Subsidiaries identified to the Administrative Agent and the Lenders on the Closing Date or as of the most recent Fiscal Year or Fiscal Quarter, as the case may
      be, and (iv) stating whether any change in GAAP or the application thereof has occurred since the date of the mostly recently delivered audited financial statements of the Borrower and its Subsidiaries, and, if any change has occurred, specifying the
      effect of such change on the financial statements accompanying such Compliance Certificate; 

     

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    (d) concurrently with the delivery of the financial statements referred to in subsection (b) of this
      Section, a certificate signed by the principal executive officer or the principal financial officer of the Borrower setting forth as of a recent date, a true and complete list of all Hedging Transactions of the Loan Parties, the material terms
      thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net mark-to-market value therefor, any new credit support agreements relating thereto not listed on Schedule 4.24, any margin required
      or supplied under any credit support document, and the counterparty to each such agreement; 

    (e) concurrently with the delivery of the financial statements referred to in subsection (b) of this
      Section, a certificate signed by the principal executive officer or the principal financial officer of the Borrower setting forth information as to quantities or production from the Loan Parties’ proved Oil and Gas Properties, volumes of production
      sold, pricing, purchasers of production, gross revenues, lease operating expenses, and such other information as the Administrative Agent may reasonably request with respect to the relevant quarterly period; 

    (f) as soon as available and in any event within 60 days after the end of each Fiscal Year of the
      Borrower, a 12 month budget for the Borrower and its Subsidiaries for the current Fiscal Year prepared by the management of the Borrower and detailing the projected cash flows and capital expenditures of the Borrower and its Subsidiaries for such
      current Fiscal Year; 

    (g) promptly following the written request of the Administrative Agent, a list of all Persons purchasing
      Hydrocarbons from any Loan Party; and 

    (h) promptly following any request therefor, such other information regarding the results of operations,
      business affairs and financial position of the Borrower or any of its Subsidiaries as the Administrative Agent or any Lender may reasonably request. 

    Section 5.2. Notices of Material Events. The Borrower will furnish to the
      Administrative Agent and each Lender prompt written notice of the following: 

    (a) the occurrence known to the Borrower of any Default or Event of Default which has occurred and is
      continuing (subject to any cure or notice periods set forth in Section 8.1 for any Event of Default); 

    (b) the filing or commencement of, or any material development in, any action, suit or proceeding by or
      before any arbitrator or Governmental Authority against or, to the knowledge of the Borrower, affecting the Borrower or any of its Subsidiaries which, if adversely determined, could reasonably be expected to result in a Material Adverse Effect; 

    (c) the occurrence of any event or any other development by which the Borrower or any of its Subsidiaries
      (i) receives notice or becomes aware that it fails 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) receives notice or becomes aware that it is
      subject to any Environmental Liability, (iii) receives notice of any claim with respect to any Environmental Liability, or (iv) becomes aware of any basis for any Environmental Liability, in each case which, either individually or in the aggregate,
      could reasonably be expected to result in a Material Adverse Effect; 

     

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  (d) promptly and in any event within 15 days after (i) the Borrower, any of its Subsidiaries or any ERISA
    Affiliate knows or has reason to know that any ERISA Event has occurred, a certificate of the chief financial officer of the Borrower describing such ERISA Event and the action, if any, proposed to be taken with respect to such ERISA Event and a copy
    of any notice filed with the PBGC or the IRS pertaining to such ERISA Event and any notices received by the Borrower, such Subsidiary or such ERISA Affiliate from the PBGC or any other governmental agency with respect thereto, and (ii) becoming aware
    (1) that there has been an increase in Unfunded Pension Liabilities (not taking into account Plans with negative Unfunded Pension Liabilities) since the date the representations hereunder are given or deemed given, or from any prior notice, as
    applicable, (2) of the existence of any Withdrawal Liability, (3) of the adoption of, or the commencement of contributions to, any Plan subject to Section 412 of the Code by the Borrower, any of its Subsidiaries or any ERISA Affiliate, or (4) of the
    adoption of any amendment to a Plan subject to Section 412 of the Code which results in a material increase in contribution obligations of the Borrower, any of its Subsidiaries or any ERISA Affiliate, a detailed written description thereof from the
    chief financial officer of the Borrower; 

  (e) the occurrence of any default or event of default known to the Borrower, or the receipt by the Borrower
    or any of its Subsidiaries of any written notice of an alleged default or event of default, which has occurred and is continuing, with respect to any Material Indebtedness of the Borrower or any of its Subsidiaries; 

  (f) any material amendment or modification to any Material Agreement (together with a copy thereof), and
    prompt notice of any termination, expiration or loss of any Material Agreement; and 

  (g) any other development that results in, or could reasonably be expected to result in, a Material Adverse
    Effect. 

  The Borrower will furnish to the Administrative Agent and each Lender the following: 

  (x) promptly and in any event at least 30 days prior thereto, notice of any change (i) in any Loan Party’s legal name,
    (ii) in any Loan Party’s chief executive office, its principal place of business, any office in which it maintains books or records or any office or facility at which Collateral owned by it is located (including the establishment of any such new office
    or facility), (iii) in any Loan Party’s identity or legal structure, (iv) in any Loan Party’s federal taxpayer identification number or organizational number or (v) in any Loan Party’s jurisdiction of organization; and 

  (y) as soon as available and in any event within 30 days after receipt thereof, a copy of any environmental report or site
    assessment obtained by or for the Borrower or any of its Subsidiaries after the Closing Date on any Oil and Gas Property, which would reasonably be expected to result in a Material Adverse Effect. 

  Each notice or other document delivered under this Section shall be accompanied by a written statement of a Responsible
    Officer setting forth the details of the event or development requiring such notice or other document and any action taken or proposed to be taken with respect thereto. 

  Section 5.3. Existence; Conduct of Business. The Borrower will, and will
    cause each of its Subsidiaries to do or cause to be done all things necessary to (a) preserve, renew and maintain in full force and effect (i) its legal existence and (ii) except where the failure to do so would not reasonably be expected to result in
    a Material Adverse Effect, its respective rights, licenses, permits (including Environmental Permits), privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its business and (b) maintain, if necessary, its
    qualification to do business in each other jurisdiction in which its Oil and Gas Properties are located or the ownership of its Properties requires such qualification; provided that nothing in this Section shall prohibit any merger,
    consolidation, liquidation or dissolution permitted under Section 7.3. 

   

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  Section 5.4. Compliance with Laws. The Borrower will, and will cause each
    of its Subsidiaries to, (a) comply with all laws, rules, regulations and requirements of any Governmental Authority applicable to its business and properties, including, without limitation, all Environmental Laws, ERISA and OSHA, except where the
    failure to do so, either individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect and (b) maintain in effect and enforce policies and procedures designed to promote and achieve compliance by the
    Borrower, its Subsidiaries and their respective directors, officers, employees and agents with applicable Anti-Corruption Laws and applicable Sanctions. 

  Section 5.5. Payment of Obligations. The Borrower will, and will cause
    each of its Subsidiaries to, pay and discharge at or before maturity all of its obligations and liabilities (including, without limitation, all taxes, assessments and other governmental charges, levies and all other claims that could result in a
    statutory Lien) before the same shall become delinquent or in default, except where (a) (i) the validity or amount thereof is being contested in good faith by appropriate proceedings and (ii) the Borrower or such Subsidiary has set aside on its books
    adequate reserves with respect thereto in accordance with GAAP or (b) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect. 

  Section 5.6. Books and Records. The Borrower will, and will cause each of
    its Subsidiaries to, keep proper books of record and account in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities to the extent necessary to prepare the consolidated financial
    statements of the Borrower in conformity with GAAP. 

  Section 5.7. Visitation and Inspection. The Borrower will, and will cause
    each of its Subsidiaries to, permit any representative of the Administrative Agent or any Lender, under the reasonable guidance of officers of or employees delegated by officers of such Loan Party or such Subsidiary, and subject to any applicable
    confidentiality considerations, visit and inspect its Properties (including its Oil and Gas Properties), to examine its books and records and to make copies and take ex- tracts therefrom, and to discuss its affairs, finances and accounts with any of
    its officers and with its independent certified public accountants, all at such reasonable times and as often as the Administrative Agent or any Lender may reasonably request after reasonable prior notice to the Borrower; provided that if an
    Event of Default has occurred and is continuing, no prior notice shall be required. 

  Section 5.8. Maintenance of Properties; Insurance. The Borrower will, and will cause
    each of its Subsidiaries to: 

  (a) operate its proved Oil and Gas Properties and other material Properties or, to the extent the Borrower
    is not the operator of any Property, use commercially reasonable efforts to cause such Oil and Gas Properties and other Properties to be operated (it being understood that this shall not be construed to require any Loan Party to include this Section 5.8
    in any contractual arrangements with such operators), as a prudent operator would in accordance with the practices of the industry and in compliance with all applicable contracts and agreements binding on it (except as contested in good faith with
    appropriate proceedings) and in compliance with all Requirements of Law, including, without limitation, applicable proration requirements and Environmental Laws, and all applicable laws, rules and regulations of every other Governmental Authority from
    time to time constituted to regulate the development and operation of its proved Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except in each such case as would not result in a Material Adverse Effect;
  

   

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    (b) maintain and keep in good condition and repair (normal wear and tear excepted) all of its material proved Oil and Gas
      Properties and other material Properties, including, without limitation, all such equipment, machinery and facilities, except as would not result in a Material Adverse Effect; 

    (c) promptly pay and discharge, or make reasonable and customary efforts to cause to be paid and
      discharged, all delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its proved Oil and Gas Properties (except where the amount thereof is being contested in good faith by
      appropriate proceedings and for which adequate reserves have been maintained in accordance with GAAP) and will do all other things necessary to keep unimpaired their rights with respect thereto and prevent any forfeiture thereof or default thereunder
      (other than those expiring according to their terms), except where the failure to do so would not reasonable be expected to have a Material Adverse Effect; 

    (d) promptly perform or cause to be performed, in accordance with industry standards, the obligations
      required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its proved Oil and Gas Properties and other material Properties, except where the failure to do so would not reasonable be
      expected to have a Material Adverse Effect; 

    (e) maintain with financially sound and reputable insurance companies which are not Affiliates of the
      Borrower (i) insurance with respect to its properties and business, and the properties and business of its Subsidiaries, against loss or damage of the kinds customarily insured against by companies in the same or similar businesses operating in the
      same or similar locations (including, to the extent applicable, flood insurance for Collateral located in a designated “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency),
      and as required by Regulation H of the Federal Reserve Board, as from time to time in effect and all official rulings and interpretations thereunder or thereof) and (ii) all insurance required to be maintained pursuant to the Collateral Documents or
      any applicable Requirement of Law, and will, upon request of the Administrative Agent, furnish to each Lender at reasonable intervals a certificate of a Responsible Officer setting forth the nature and extent of all insurance maintained by the
      Borrower and its Subsidiaries in accordance with this Section; 

    (f) without limiting the generality of the preceding clause, the Borrower will maintain and cause its
      Subsidiaries to maintain, casualty insurance and liability insurance with respect to liabilities, losses or damage in respect of the Properties and businesses of the Loan Parties, in each case, in such amounts, with such deductibles, covering such
      risks and otherwise on such terms and conditions as shall be customary for companies in the same or similar businesses operating in the same or similar locations and as reasonably satisfactory to the Administrative Agent; and 

    (g) at all times shall name the Administrative Agent as additional insured on all liability insurance
      policies of the Borrower and its Subsidiaries and as loss payee (pursuant to a loss payee endorsement approved by the Administrative Agent) on all casualty insurance policies of the Borrower and its Subsidiaries and use commercially reasonable
      efforts to cause such policies to provide that the insurer will give at least thirty (30) days prior notice of any cancellation to the Administrative Agent. 

     

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    Section 5.9. Use of Proceeds; Margin Regulations. The Borrower will use the proceeds
      of all Loans to fund the acquisition, exploration and development of Oil and Gas Properties, finance working capital needs, capital and operating expenditures and for other general corporate purposes of the Borrower and its Subsidiaries. No part of
      the proceeds of any Loan will be used, whether directly or indirectly, for any purpose in contravention of Section 4.9 or for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve
      System, including Regulation T, Regulation U or Regulation X. All Letters of Credit will be used for the uses described in the first sentence of this section or for general corporate purposes. 

    Section 5.10. Casualty and Condemnation. The Borrower (a) will furnish
      to the Administrative Agent and the Lenders prompt written notice of any casualty or other insured damage to any material portion of any Collateral or the commencement of any action or preceding for the taking of any material portion of any
      Collateral or any part thereof or interest therein under power of eminent domain or by condemnation or similar proceeding and (b) will cause the net cash proceeds of any such event (whether in the form of insurance proceeds, condemnation awards or
      otherwise) to be collected and applied in accordance with the applicable provisions of this Agreement and the Collateral Documents. 

    Section 5.11. Cash Management. The Borrower shall, and shall cause its Subsidiaries
      to: 

    (a) maintain all cash management and treasury business with SunTrust Bank, including, without limitation,
      all deposit accounts, disbursement accounts, investment accounts and lockbox accounts (other than (x) zero-balance accounts for the purpose of managing local disbursements, payroll, withholding and other fiduciary accounts, all of which the Loan
      Parties may maintain without restriction (collectively, such accounts being “Zero-Balance Accounts”) and (y) accounts in existence on the Closing Date that have on deposit amounts for checks issued prior to or on the Closing Date that have not yet
      been deposited by the payee thereof, but only to the extent of such amounts) (each such deposit account, disbursement account, investment account and lockbox account, a “Controlled Account”); each Controlled Account shall be a cash collateral
      account, with all cash, checks and other similar items of payment in such account securing payment of the Obligations, and in which the Borrower and each of its Subsidiaries shall have granted a first priority Lien to the Administrative Agent, on
      behalf of the Secured Parties, perfected pursuant to Control Account Agreements; 

    (b) deposit promptly, and in any event no later than 10 Business Days after the date of receipt thereof,
      all cash, checks, drafts or other similar items of payment relating to or constituting payments made in respect of any and all accounts and other Collateral into Controlled Accounts, in each case except for cash and Permitted Investments the
      aggregate value of which does not exceed $100,000 at any time or amounts for purposes of Zero-Balance Accounts; and 

    (c) at any time after the occurrence and during the continuance of an Event of Default, at the request of
      the Required Lenders, the Borrower will, and will cause each other Loan Party to, cause all payments constituting proceeds of accounts or of other Collateral to be directed into lockbox accounts under agreements in form and substance satisfactory to
      the Administrative Agent. 

    Section 5.12. Additional Subsidiaries and Collateral. 

    (a) In the event that, subsequent to the Closing Date, any Person becomes a Subsidiary of a Loan Party,
      whether pursuant to formation, acquisition or otherwise, (x) the Borrower shall notify the Administrative Agent and the Lenders not less than ten (10) Business Days prior to the formation or acquisition of such Subsidiary and (y) within five
      (5) Business Days after such Person becomes a Subsidiary of a Loan Party, the Borrower shall cause such 

     

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     Subsidiary (i) to become a new Guarantor and to grant Liens in favor of the Administrative Agent in all of its personal
      property by executing and delivering to the Administrative Agent a supplement to the Guaranty and Security Agreement in form and substance reasonably satisfactory to the Administrative Agent, and authorizing and delivering, at the request of the
      Administrative Agent, such UCC financing statements or similar instruments required by the Administrative Agent to perfect the Liens in favor of the Administrative Agent and granted under any of the Loan Documents, (ii) to grant Liens in favor of the
      Administrative Agent in the proved Oil and Gas Properties of such Subsidiary by executing and delivering to the Administrative Agent such Mortgages, to the extent necessary to maintain compliance with Section 5.15, and (iii) to
      deliver all such other documentation (including, without limitation, certified organizational documents, resolutions, lien searches, environmental reports and, if requested by the Administrative Agent, legal opinions) and to take all such other
      actions as such Subsidiary would have been required to deliver and take pursuant to Section 3.1 if such Subsidiary had been a Loan Party on the Closing Date or that such Subsidiary would be required to deliver pursuant to Section 5.13
      with respect to any proved Oil and Gas Properties. In addition, within five (5) Business Days after the date any Person becomes a Subsidiary of a Loan Party, the Borrower shall, or shall cause the applicable Loan Party to (i) pledge all of the
      Capital Stock of such Subsidiary to the Administrative Agent as security for the Obligations by executing and delivering a supplement to the Guaranty and Security Agreement in form and substance satisfactory to the Administrative Agent, and (ii) if
      the Capital Stock of such Subsidiary is certificated, deliver the original certificates evidencing such pledged Capital Stock to the Administrative Agent, together with appropriate powers executed in blank. 

    (b) The Borrower agrees that, following the due execution and delivery of the Collateral Documents
      required to be executed and delivered by this Section, when UCC financing statements in appropriate form are filed in the appropriate governmental offices, the Administrative Agent shall have a valid, first priority perfected Lien on the property
      required to be pledged pursuant to subsection (a) (to the extent that such Lien can be perfected by execution, delivery of the Collateral Documents and/or recording of the UCC financing statements), free and clear of all Liens other than Liens
      expressly permitted by Section 7.2. All actions to be taken pursuant to this Section shall be at the expense of the Borrower or the applicable Loan Party, and shall be taken to the reasonable satisfaction of the Administrative
      Agent. 

    Section 5.13. Reserve Reports. 

    (a) On or before January 1 and July 1 of each year, commencing July 1, 2017, the Borrower shall furnish
      to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties evaluated by such Reserve Report of the Borrower and its Subsidiaries as of the immediately preceding October 1 (with respect to the Reserve Report due
      January 1) and April 1 (with respect to the Reserve Report due July 1). The Reserve Report due January 1 of each year shall be prepared by one or more Approved Petroleum Engineers, and the Reserve Report due July 1 of each year shall be prepared by
      or under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the Reserve Report most recently prepared by the Approved
      Petroleum Engineers; provided, however, that the Reserve Report due July 1, 2017 may be prepared by one or more Approved Petroleum Engineers in lieu of the foregoing requirement by the chief engineer of the Borrower. Additionally, on or before
      October 1, 2017 and April 1, 2018, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties evaluated by such Reserve Report of the Borrower and its Subsidiaries as of July 1, 2017
      (with respect to the Reserve Report due October 1, 2017) and January 1, 2018 (with respect to the Reserve Report due April 1, 2018). The 

     

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     Reserve Reports due September 1, 2017 and April 1, 2018 shall be prepared by or under the supervision of the chief
      engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the Reserve Report most recently prepared by the Approved Petroleum Engineers. 

    (b) In the event of an Interim Redetermination, the Borrower shall furnish to the Administrative Agent
      and the Lenders a Reserve Report prepared by or under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the Reserve
      Report most recently prepared by the Approved Petroleum Engineers. For any Interim Redetermination requested by the Administrative Agent or the Borrower pursuant to Section 2.4(b), the Borrower shall provide such Reserve Report
      with an “as of” date as required by the Administrative Agent as soon as possible, but in any event no later than thirty (30) days following the receipt of such request. 

    (c) With the delivery of each Reserve Report, the Borrower shall provide to the Administrative Agent and
      the Lenders a certificate from its principal executive officer or the principal financial officer certifying that to the best of his knowledge and in all material respects: (i) the information contained in the Reserve Report and any other information
      delivered in connection therewith is true and correct, (ii) based on information presented in such Reserve Report, the Borrower and its Subsidiaries owns good and Defensible Title to the proved Oil and Gas Properties evaluated in such Reserve Report
      and such Properties are free of all Liens except for Liens permitted under Section 7.2, (iii) except as set forth on an exhibit to the certificate, on a net basis there are no gas imbalances, take or pay or other prepayments in
      excess of the volume specified in Section 4.22 with respect to its proved Oil and Gas Properties evaluated in such Reserve Report which would require the Borrower or its Subsidiaries to deliver Hydrocarbons either generally or
      produced from such proved Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor, (iv) none of their proved Oil and Gas Properties have been sold since the date of the last Borrowing Base determination
      except as set forth on an exhibit to the certificate, which certificate shall list all of its proved Oil and Gas Properties sold and in such detail as reasonably required by the Administrative Agent, (v) attached to the certificate is a list of all
      marketing agreements entered into subsequent to the later of the date hereof or the most recently delivered Reserve Report which the Borrower or its Subsidiaries could reasonably be expected to have been obligated to list on Schedule 4.23 had
      such agreement been in effect on the date hereof and (vi) attached thereto is a schedule of the Oil and Gas Properties evaluated by such Reserve Report that are Mortgaged Property and demonstrating the percentage of the present value of the proved
      Oil and Gas Properties evaluated in such Reserve Report that the value of such Mortgaged Property represent in compliance with Section 5.15. 

    Section 5.14. Title Information. 

    (a) On or before the delivery to the Administrative Agent and the Lenders of each Reserve Report required
      by Section 5.13(a), the Borrower will deliver title information in form and substance reasonably acceptable to the Administrative Agent covering the proved Oil and Gas Properties evaluated by such Reserve Report as requested by
      the Administrative Agent covering, together with title information previously delivered to the Administrative Agent, at least ninety percent (90%) of the present value of the proved Oil and Gas Properties evaluated by such Reserve Report. 

     

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    (b) If the Borrower has provided title information under Section 5.14(a), the
      Borrower shall, or shall cause the applicable Loan Party to, within sixty (60) days after notice from the Administrative Agent that title defects or exceptions exist with respect to such additional Properties which are not Excepted Liens, either
      (i) cure any such title defects or exceptions (including defects or exceptions as to priority) which are not permitted by Section 7.2 raised by such information, (ii) substitute acceptable Oil and Gas Properties with no title
      defects or exceptions except for Excepted Liens having an equivalent value or (iii) deliver title information in form and substance acceptable to the Administrative Agent so that the Administrative Agent shall have received, together with title
      information previously delivered to the Administrative Agent, satisfactory title information on at least ninety percent (90%) of the present value of the proved Oil and Gas Properties evaluated by such Reserve Report. 

    (c) If the Borrower or such Loan Party is unable to cure any title defect requested by the Administrative
      Agent or the Lenders to be cured within the sixty (60) day period or the Borrower does not comply with the requirements under Section 5.14(a), such default shall not be a Default, but instead the Administrative Agent and/or the
      Required Lenders shall have the right to exercise the following remedy in their sole discretion from time to time, and any failure to so exercise this remedy at any time shall not be a waiver as to future exercise of the remedy by the Administrative
      Agent or the Lenders. To the extent that the Administrative Agent or the Required Lenders are not satisfied with title to any proved Oil and Gas Property after such sixty (60) day period has elapsed, such unacceptable proved Oil and Gas Property
      shall not count towards compliance with the requirements of Section 5.14(a), and the Administrative Agent may send a notice to the Borrower and the Lenders that the then outstanding Borrowing Base shall be reduced by an amount
      as determined by the Required Lenders to cause the Borrower to be in compliance with the requirements of Section 5.14(a). This new Borrowing Base shall become effective immediately after receipt of such notice. 

    Section 5.15. Additional Mortgaged Property. In connection with each
      redetermination of the Borrowing Base, the Borrower shall, and shall cause its Subsidiaries to, within thirty (30) days following the request of the Administrative Agent, grant to the Administrative Agent as security for the Obligations, a
      first-priority Lien (other than Liens permitted by Section 7.2) on additional proved Oil and Gas Properties of the Borrower and its Subsidiaries not already subject to a Lien of the Collateral Documents which will represent in any event, when
      combined with all other Mortgaged Property, at least ninety percent (90%) of the present value of the proved Oil and Gas Properties of the Loan Parties evaluated by such Reserve Report. All such Liens will be created and perfected by and in
      accordance with the provisions of mortgages, deeds of trust, security agreements and financing statements or other Collateral Documents, all in form and substance reasonably satisfactory to the Administrative Agent and in sufficient executed (and
      acknowledged where necessary or appropriate) counterparts for recording purposes. In order to comply with the foregoing, if any Subsidiary places a Lien on its proved Oil and Gas Properties and such Subsidiary is not a Guarantor, then it shall become
      a Guarantor and comply with Section 5.12(a). 

    Section 5.16. Further Assurances. The Borrower will, and will cause
      each other Loan Party to, execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements, fixture filings, Mortgages and other
      documents), which may be required under any applicable law, or which the Administrative Agent or the Required Lenders may reasonably request, to effectuate the transactions contemplated by the Loan Documents pursuant to such Loan Documents or to
      grant, preserve, protect or perfect the Liens created by the Collateral Documents or the validity or priority of any such Lien pursuant to such Loan Documents, all at the expense of the Loan Parties. The Borrower also agrees to provide to the
      Administrative Agent, from time to time upon request, evidence reasonably satisfactory to the Administrative Agent as to the perfection and priority of the Liens created or intended to be created by the Collateral Documents. The Borrower hereby
      authorizes the Administrative Agent to file one or more 

     

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   financing or continuation statements, and amendments thereto, relative to all or any part of the Mortgaged Property without the signature of
    the Borrower or any other Loan Party where permitted by law. A carbon, photographic or other reproduction of the Collateral Documents or any financing statement covering the Mortgaged Property or any part thereof shall be sufficient as a financing
    statement where permitted by law. 

  Section 5.17. Environmental Matters. 

  (a) The Borrower will, and will cause each other Loan Party to (i) create, handle, transport, use, or
    dispose of any Hazardous Material solely to the extent within the ordinary course of its business and in compliance with Environmental Laws except if such non-compliance could not, individually or in the aggregate, reasonably be expected to result in a
    Material Adverse Effect, (ii) release, any Hazardous Material on, under, about or from any of Loan Party’s Properties or any other property offsite the Property to the extent caused by such Loan Party’s operations in compliance with applicable
    Environmental Laws, except if non-compliance therewith could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect; (iii) promptly commence and diligently prosecute to completion, and shall cause each
    Subsidiary to promptly commence and diligently prosecute to completion, any assessment, evaluation, investigation, monitoring, containment, cleanup, removal, repair, restoration, remediation or other remedial obligations (collectively, the “Remedial
      Work”) in the event any Remedial Work is required or reasonably necessary under applicable Environmental Laws because of or in connection with the actual or suspected past, present or future Release or threatened Release of any Hazardous Material
    on, under, about or from any of any Loan Party’s Properties by such Loan Party, if the failure to do so, could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect and (iv) establish and implement, and shall
    cause each Subsidiary to establish and implement, such procedures as may be necessary to continuously determine and assure that each Loan Party’s obligations under this Section 5.17(a) are timely and fully satisfied. 

  (b) The Borrower will promptly, but in no event later than five (5) Business Days after any Loan Party
    obtains knowledge thereof, notify the Administrative Agent and the Lenders in writing of any threatened action, investigation or inquiry by any Governmental Authority or any threatened demand or lawsuit by any Person against any Loan Party or their
    Properties of which the Borrower has knowledge in connection with any Environmental Laws if such Loan Party could reasonably anticipate that such action will result in liability (whether individually or in the aggregate) in excess of $500,000, not
    fully covered by insurance, subject to normal deductibles. 

  Section 5.18. Commodity Exchange Act Keepwell Provisions. The Borrower
    hereby guarantees the payment and performance of all Obligations of each Loan Party (other than the Borrower) and absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time to each
    Loan Party (other than the Borrower) in order for such Loan Party to honor its obligations under the Guarantee and Security Agreement including obligations with respect to Hedging Obligations secured by the Collateral Documents (provided, however, that
    the Borrower shall only be liable under this Section 5.18 for the amount of such liability that can be hereby incurred without rendering its obligations under this Section 5.18, or otherwise under this
    Agreement, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of the Borrower under this Section 5.18 shall remain in full force and effect
    until all Obligations (other than contingent indemnification obligations) are paid in full to the Lenders, the Administrative Agent and all other Secured Parties, and all of the Lenders’ Commitments are terminated. The Borrower intends that this Section 5.18
    constitute, and this Section 5.18 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

   

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  Section 5.19. Minimum Hedging. Within sixty (60) days following the
    Closing Date, the Borrower shall enter into Hedging Transactions covering at least forty-five percent (45%) of the Borrower’s and its Subsidiaries’ reasonably anticipated projected net production of oil and natural gas volumes from proved developed
    producing reserves of the Borrower and its Subsidiaries for twenty-four (24) months from the Closing Date at prices reasonably satisfactory to the Administrative Agent (the “Initial Hedging Requirement”). Thereafter, the Borrower shall maintain
    on a rolling twenty-four (24) months basis, Hedging Transactions covering at least forty-five percent (45%) of the Borrower’s and its Subsidiaries’ reasonably anticipated projected net production of oil and natural gas volumes from proved developed
    producing reserves of the Borrower and its Subsidiaries at prices reasonably satisfactory to the Administrative Agent. 

  ARTICLE VI  

  FINANCIAL COVENANTS 

  The Borrower covenants and agrees that so long as any Lender has a Commitment hereunder or any Obligation remains unpaid or
    outstanding: 

  Section 6.1. Leverage Ratio. Beginning with the Fiscal Quarter ending
    September 30, 2017, the Borrower will not, as of the last day of any Fiscal Quarter, permit its Leverage Ratio to be greater than 4.0 to 1.0. 

  Section 6.2. Current Ratio. Beginning with the Fiscal Quarter ending
    September 30, 2017, the Borrower will not permit, as of the last day of any Fiscal Quarter, its ratio of Current Assets to Current Liabilities to be less than 1.0 to 1.0. 

  Section 6.3. Capital Expenditures. The Loan Parties shall not make
    Capital Expenditures in an aggregate amount greater than (a) during the Fiscal Quarter ending September 30, 2017, $24,000,000 and (b) during the Fiscal Quarter ending December 31, 2017, $22,000,000; provided, that the amount that $24,000,000 exceeds
    the amount of Capital Expenditures in the Fiscal Quarter ending September 30, 2017 shall be added to the amount set forth in clause (b); provided, however, such amounts shall be increased by the amount of cash proceeds received by the Borrower for any
    issuance of preferred interests or other Capital Stock of the Borrower during such two quarter period (or solely for the Fiscal Quarter ending December 31, 2017 for such proceeds received after the beginning of such quarter), with such increase being
    determined without duplication with subsection (a) of the definition of Capital Expenditures. 

  Section 6.4. Cure Right. Notwithstanding the foregoing, in the event that
    the Borrower fails to comply with the requirements of Section 6.1 or Section 6.2 for any Fiscal Quarter, then until the expiration of the tenth (10th) day subsequent to the date the Compliance Certificate
    calculating compliance for such Fiscal Quarter is required to be delivered pursuant to Section 5.1(c), the Borrower shall have the right to cure such failure (the “Cure Right”) by (a) (i) in the event of a failure to comply
    with the requirements of Section 6.1, making a prepayment of the Loans in accordance with Section 2.10 in an amount necessary to reduce Consolidated Total Debt (which prepayment shall be deemed to have
    occurred on the last day of such Fiscal Quarter) so that the Borrower will be in compliance with Section 6.1 as of the last day of such Fiscal Quarter, and (ii) in the event of a failure to comply with the requirements of Section 6.2,
    (x) making a prepayment of the Loans in accordance with Section 2.10 in an 

   

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     amount necessary to increase Current Assets by increasing the unused amount of the Aggregate Commitments (which prepayment shall be deemed
      to have occurred on the last day of such Fiscal Quarter) so that the Borrower will be in compliance with Section 6.2 as of the last day of such Fiscal Quarter, (y) obtaining cash proceeds from an issuance of Capital Stock of the
      Borrower to increase Current Assets by increasing the amount of cash and cash equivalents of the Borrower (which receipt of cash proceeds shall be deemed to have occurred on the last day of such Fiscal Quarter), or (z) exercising any combination of
      the foregoing clauses (x) and (y) and (b) on the day the Borrower exercise the Cure Right, certifying to Administrative Agent and the Lenders in writing that the Cure Right has been exercised and providing an updated Compliance Certificate
      recalculating compliance with the covenants in Section 6.1 and Section 6.2 for which the Cure Right was exercised. Notwithstanding anything herein to the contrary, (A) there shall not be two consecutive
      Fiscal Quarters in which the Cure Right is exercised, (B) in each consecutive four-Fiscal Quarter period there shall be at least two Fiscal Quarters in which the Cure Right is not exercised, and (C) the Cure Right may not be exercised in more than
      four Fiscal Quarters during the term of this Agreement. 

    ARTICLE VII 

    NEGATIVE COVENANTS 

    The Borrower covenants and agrees that so long as any Lender has a Commitment hereunder or any Obligation remains
      outstanding: 

    Section 7.1. Indebtedness and Preferred Equity. The Borrower will not, and will not
      permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except: 

    (a) Indebtedness created pursuant to the Loan Documents; 

    (b) Indebtedness of the Borrower and its Subsidiaries existing on the date hereof and set forth on Schedule
        7.1 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the
      weighted average life thereof; 

    (c) Indebtedness of the Borrower or any of its Subsidiaries incurred to finance the acquisition,
      construction or improvement of any fixed or capital assets, including Capital Lease Obligations, and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition
      thereof (provided that such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvements), and extensions, renewals or replacements of any such Indebtedness that do not
      increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the weighted average life thereof; provided that the aggregate principal amount of
      such Indebtedness does not exceed $1,000,000 at any time outstanding; 

    (d) Indebtedness of the Borrower owing to any Subsidiary and of any Subsidiary owing to the Borrower or
      any other Subsidiary; provided that (i) any such Indebtedness shall be subject to Section 7.4, (ii) such Indebtedness is not is not held, assigned, transferred, negotiated or pledged to any Person other than a Loan
      Party, and (iii) any such Indebtedness shall be subordinated to the Obligations on terms and conditions satisfactory to the Administrative Agent; 

     

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    (e) Guarantees by the Borrower of Indebtedness of any Subsidiary and by any Subsidiary Loan Party of
      Indebtedness of the Borrower or any other Subsidiary; provided that such Indebtedness is otherwise permitted by this Agreement; 

    (f) Indebtedness of the Borrower and its Subsidiaries associated with bonds or surety obligations
      required by Governmental Authorities 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, worker’s compensation claims, performance, bid or
      other surety or bond obligations; 

    (g) Hedging Obligations permitted by Section 7.10; 

    (h) Indebtedness in the form of (i) accounts payable to trade creditors for goods or services,
      (ii) payment obligations to a Bank Product Provider under commercial cards including in connection with the payment by such Bank Product Provider of accounts payable to trade creditors of the Loan Parties for goods or services, and (iii) current
      operating liabilities (other than for borrowed money) which in each case is (x) incurred in the ordinary course of business, as presently conducted and (y) not more than 90 days past due, unless contested in good faith by appropriate proceedings and
      adequate reserves for such items have been made in accordance with GAAP; 

    (i) endorsements of negotiable instruments for collection in the ordinary course of business; 

    (j) Indebtedness owing to insurance providers and arising in connection with the financing of insurance
      premium payments; and 

    (k) other Indebtedness of the Borrower or its Subsidiaries in an aggregate principal amount not to exceed
      $1,000,000 at any time outstanding. 

    The Borrower will not, and will not permit any Subsidiary to, issue any preferred stock or other preferred equity
      interest that (i) is required to be redeemable in cash or pursuant to a cash sinking fund obligation or (ii) is or may become redeemable or repurchaseable in cash by the Borrower or such Subsidiary, at the option of the holder thereof as holder of
      such security or of holders thereof as a determined quantity of holders of such securities, in whole or in part, or (iii) is convertible or exchangeable at the option of the holder thereof in their capacity as holder of such securities for
      Indebtedness or preferred stock or any other preferred equity interest described in this paragraph, on or prior to, in the case of clause (i), (ii) or (iii), the first anniversary of the Commitment Termination Date. 

    Section 7.2. Liens. The Borrower will not, and will not permit any of
      its Subsidiaries to, create, incur, assume or suffer to exist any Lien on any of its assets or property now owned or hereafter acquired, except: 

    (a) Liens securing the Obligations; provided that no Liens may secure Hedging Obligations or Bank
      Product Obligations without the Obligations being secured hereunder on a pari passu basis to such Hedging Obligations or Bank Product Obligations and subject to the priority of payments set forth in Section 2.20 and Section 8.2
      (if such Hedging Obligations or Bank Product Obligations are in default resulting in an Event of Default under this Agreement); 

    (b) Excepted Liens; 

     

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  (c) Liens on any property or asset of the Borrower or any of its Subsidiaries existing on the date hereof
    and set forth on Schedule 7.2; provided that such Liens shall not apply to any other property or asset of the Borrower or any Subsidiary; 

  (d) purchase money Liens upon or in any fixed or capital assets to secure the purchase price or the cost of
    construction or improvement of such fixed or capital assets or to secure Indebtedness incurred solely for the purpose of financing the acquisition, construction or improvement of such fixed or capital assets (including Liens securing any Capital Lease
    Obligations); provided that (i) such Lien secures Indebtedness permitted by Section 7.1(c), (ii) such Lien attaches to such asset concurrently or within 90 days after the acquisition or the completion of the construction
    or improvements thereof, (iii) such Lien does not extend to any other asset, and (iv) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets; 

  (e) any Lien permitted in clauses (a)-(d) or (f)-(g) of this Section 7.2
    and existing on Property of a Person immediately prior to its being consolidated with or merged into a Loan Party or its becoming a Subsidiary, or any Lien existing on any Property acquired by a Loan Party at the time such Property is so acquired,
    provided that (i) no such Lien shall have been created or assumed in contemplation of such consolidation or merger or such Person’s becoming a Subsidiary or such acquisition of Property, and (ii) each such Lien shall extend solely to the item or items
    of Property so acquired and any other Property which is an improvement or accession to such acquired Property; 

  (f) extensions, renewals, or replacements of any Lien referred to in subsections (b) through (d) of this
    Section; provided that the principal amount of the Indebtedness secured thereby is not increased and that any such extension, renewal or replacement is limited to the assets originally encumbered thereby; and 

  (g) Liens on property not constituting Collateral and not otherwise permitted by the foregoing clauses of
    this Section 7.2; provided that the aggregate principal or face amount of all Indebtedness secured under this subsection shall not exceed $500,000. 

  Section 7.3. Fundamental Changes. 

  (a) The Borrower will not, and will not permit any of its Subsidiaries to, merge into or consolidate into
    any other Person, or permit any other Person to merge into or consolidate with it, or sell, lease, transfer or otherwise dispose of (in a single transaction or a series of transactions) all or substantially all of its assets (in each case, whether now
    owned or hereafter acquired) or all or substantially all of the stock of any of its Subsidiaries (in each case, whether now owned or hereafter acquired) or liquidate or dissolve; provided that if, at the time thereof and immediately after
    giving effect thereto, no Default or Event of Default shall have occurred and be continuing, (i) the Borrower or any other Loan Party may merge with a Loan Party if the Borrower (or such Loan Party if the Borrower is not a party to such merger) is the
    surviving Person, (ii) any Subsidiary may sell, transfer, lease or otherwise dispose of all or substantially all of its assets to another Loan Party and the Borrower or such Subsidiary may sell, lease, transfer or otherwise dispose of all or
    substantially all of such Subsidiary’s stock to another Loan Party, and (iii) the Borrower may change its limited liability company form to a corporation in anticipation of a Qualified IPO. 

  (b) The Borrower will not, and will not permit any Loan Party to, allow any material change to be made in
    the character of its business as an independent oil and gas exploration and production company. From and after the date hereof, the Borrower will not, and will not permit any Loan Party to, acquire or make any other expenditure (whether such
    expenditure is capital, operating or otherwise) in or related to any Oil and Gas Properties not located within the geographical boundaries of the United States of America. 

   

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  (c) Without the prior written consent of the Administrative Agent, the Borrower will not, and will not
    permit any of its Subsidiaries to, form or acquire any Subsidiary other than a Subsidiary of which the Borrower or its Subsidiaries own all of the equity securities of such Subsidiary (other than equity attributable to management compensation plans),
    except for Investments permitted by Section 7.4. 

  Section 7.4. Investments, Loans. The Borrower will not, and will not
    permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any Capital Stock, evidence of Indebtedness (except as permitted in Section 7.1)
    or other securities (including any option, warrant, or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in,
    any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person that constitute a business unit, or create or form any Subsidiary (all of the foregoing being collectively called “Investments”),

    except: 

  (a) Investments (other than Permitted Investments) existing on the date hereof and set forth on Schedule
      7.4 (including Investments in Subsidiaries); 

  (b) Permitted Investments; 

  (c) Investments in the form of trade credit to customers of a Loan Party arising in the ordinary course of
    business and represented by accounts from such customers and accounts receivable arising in the ordinary course of business; 

  (d) creation of any additional Subsidiaries domiciled in the U.S. in compliance with this Agreement; 

  (e) Guarantees by the Borrower and its Subsidiaries constituting Indebtedness permitted by Section 7.1;
  

  (f) Investments made by the Borrower in or to any Subsidiary and by any Subsidiary to the Borrower or in or
    to another Subsidiary; 

  (g) loans or advances to employees, officers or directors of the Borrower or any of its Subsidiaries in the
    ordinary course of business for travel, relocation and related expenses; provided that the aggregate amount of all such loans and advances does not exceed $500,000 at any time outstanding; 

  (h) Hedging Transactions permitted by Section 7.10; 

  (i) Investments by the Borrower and its Subsidiaries (i) in ownership interests in additional Oil and Gas
    Properties located within the geographic boundaries of the United States of America (including, for the avoidance of doubt, the acquisition of 100% of the Capital Stock of a Person owning such assets) or (ii) related to oil and gas mineral interests
    and leases owned by a Loan Party or a Person that will become a Loan Party upon acquisition of such Person by a Loan Party, farm-out, farm-in, joint operating, joint venture, participation or area of mutual interest agreements, gathering and processing
    systems, pipelines and other midstream assets or other similar arrangements in each case, which are related or ancillary to Oil and Gas Properties owned by the Loan Parties and which are usual and customary in the oil and gas exploration and production
    business located within the geographic boundaries of the United States of America; 

   

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  (j) Investments pursuant to the Oakspring Options Agreement; and 

  (k) other Investments which in the aggregate do not exceed $1,000,000 in any Fiscal Year. 

  Section 7.5. Restricted Payments. The Borrower will not, and will not
    permit any of its Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment for the Borrower or such Subsidiary, except: 

  (i) declaring or making, or agreeing to pay or make, dividends payable in such entity’s Capital Stock with
    respect to a Loan Party or Subsidiary’s Capital Stock; 

  (ii) Restricted Payments made by any Subsidiary to the Borrower or to another Subsidiary or by the Borrower
    to any Subsidiary; 

  (iii) non-cash Restricted Payments pursuant to and in accordance with equity incentive plans or other
    benefit plans for management or employees or directors of the Borrower and its Subsidiaries; 

  (iv) the repurchase, redemption, acquisition, cancellation or other retirement for value of the Borrower’s
    Capital Stock and the termination of options to purchase Capital Stock of the Borrower, in each instance, held by a former or current directors, officers and employees (or their estates, spouses or former spouses) of any Loan Party upon their death,
    disability, retirement or termination of employment for a maximum cash consideration not to exceed $500,000 in any fiscal year; and 

  (v) Permitted Tax Distributions made by the Borrower. 

  Section 7.6. Sale of Properties; Termination of Hedging Transactions. The
    Borrower will not, and will not permit any of its Subsidiaries to, convey, sell, lease, assign, farm-out, transfer or otherwise dispose of any of its Property or, in the case of any Subsidiary, any shares of such Subsidiary’s Capital Stock, in each
    case whether now owned or hereafter acquired, to any Person other than the Borrower or any other Loan Party (any such transaction, an “Asset Sale”), or terminate or otherwise monetize any Hedging Transaction in respect of commodities except: 

  (a) the Asset Sale or other disposition of equipment that is (i) obsolete, uneconomic or worn out equipment
    disposed of in the ordinary course of business, (ii) for fair market value if no longer necessary for business of such Person or (iii) contemporaneously replaced by equipment of at least comparable value and use; 

  (b) the Asset Sale of Hydrocarbons and Permitted Investments in the ordinary course of business; 

  (c) the Asset Sale or other disposition of any proved Oil and Gas Property by the Borrower and its
    Subsidiaries or any interest therein and the termination or monetization of any Hedging Transaction in respect of commodities; provided that: 

   

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    (i) no Default exists or, after giving effect to this Section 7.6, results from
      such Asset Sale of proved Oil and Gas Property or termination or monetization of any Hedging Transaction in respect of commodities (after giving effect to any prepayment required hereunder and adjustment and payment of any Borrowing Base Deficiency
      provided hereunder); 

    (ii) the Borrower notifies the Administrative Agent and the Lenders not less than (A) ten (10) Business
      Days prior to such Asset Sale of proved Oil and Gas Property or (B) five (5) Business Days (or such longer time as the Administrative Agent may agree) following the termination or monetization of any Hedging Transaction in respect of commodities; 

    (iii) 100% of the consideration received in respect of such Asset Sale or termination shall be cash or
      cash equivalents; provided, however, this requirement shall not apply to the termination or monetization of any Hedging Transaction in accordance with its terms or that is replaced with positions or contracts no less advantageous to the
      Borrower or the Subsidiary party thereto or has expired or matured in accordance with its terms; 

    (iv) the consideration received in respect of such Asset Sale or termination or monetization of any
      Hedging Transaction in respect of commodities (other than the termination or monetization of any Hedging Transaction in accordance with its terms or replaced with positions or contracts no less advantageous to the Borrower or the Subsidiary party
      thereto) shall be equal to or greater than the fair market value at the time of such Asset Sale of the proved Oil and Gas Property, interest therein or Subsidiary subject of such Asset Sale, or Hedging Transaction subject of such termination or
      monetization at the time of the termination or monetization of such Hedging Transaction, with such value being subject in each case to applicable transaction expenses, and in the case of any Hedging Transaction applicable breakage or other agreed
      upon costs, replacement costs, synthetic trading transaction expenses, spreads, costs and related fees to the extent applicable and any other amounts required to be paid pursuant to any master agreement, swap agreement or any annex, schedule or
      protocol thereto (as reasonably determined by the board of directors (or comparable governing body) of the Borrower, and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of the principal executive officer or the
      principal financial officer of the Borrower certifying to that effect; provided, however, that nothing herein shall cause the board of directors to be required to obtain or provide a fairness or valuation opinion from an investment bank, valuation
      firm or similar entity in making such determination); and 

    (v) (A) such event is not a Triggering Event or (B) such event is a Triggering Event and immediately
      following the consummation of such event, if the Borrowing Base is redetermined pursuant to Section 2.4(e), then the Borrower shall have made the payments, if any, required under Section 2.11(b) (provided
      that the preceding clause (B) shall be a covenant and not a condition preceding the ability to make such Asset Sale or Hedging Transaction); 

    (d) the Asset Sale or other disposition of any Oil and Gas Property that does not constitute proved
      reserves by the Borrower and its Subsidiaries or any interest therein; provided that: (i) no Default exits and is continuing, (ii) 80% of the consideration received in respect of such sale shall be cash or cash equivalents or
      Permitted Investments, unless the Borrower has received the prior written consent of the Administrative Agent, and (iii) the consideration received in respect of such sale or other disposition shall be equal to or greater than the fair market value
      of the Oil and Gas Property, interest therein or Subsidiary subject of such sale or other disposition, subject in each case to applicable transaction expenses and breakage or other costs (as reasonably determined by the board of directors (or
      comparable governing body) of the Borrower and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of the principal executive officer or the principal financial officer of the Borrower certifying to that effect); 

     

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    (e) the Asset Sale or other disposition of any Oil and Gas Property that does not constitute proved
      reserves by the Borrower and its Subsidiaries or any interest therein in exchange for fair consideration in the form of either (i) other Oil and Gas Properties of a similar use or purpose or (ii) an operator’s commitment to drill an oil or natural
      gas well; provided that in the case of each of clauses (i) and (ii), the consideration received is of equivalent or greater fair market value as the Oil and Gas Property being disposed of, subject in each case to applicable transaction
      expenses and other costs (as reasonably determined by the board of directors (or comparable governing body) of the Borrower and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of the principal executive officer or
      the principal financial officer of the Borrower certifying to that effect); 

    (f) transactions permitted by Section 7.5 or Section 7.7,
      without duplication thereto; 

    (g) the sale, trade or other disposition of seismic, geologic or other data, licenses and similar rights;
      and 

    (h) Asset Sales not otherwise permitted by this Section 7.6, the aggregate
      consideration of which shall not exceed $250,000 during the term of this Agreement. 

    Section 7.7. Transactions with Affiliates. The Borrower will not, and
      will not permit any of its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates
      (collectively, “Affiliated Transactions”), except: 

    (a) in the ordinary course of business at prices and on terms and conditions not less favorable to the
      Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties and including the Oakspring Operations Agreement and the Oakspring Options Agreement; 

    (b) as contemplated by the Company Operating Agreement; 

    (c) Affiliated Transactions between or among the Loan Parties; 

    (d) transactions permitted by Section 7.4 or Section 7.5
      provided each such transaction meets the criteria of such provisions; 

    (e) Affiliated Transactions in exchange for the Capital Stock of the Borrower including Preferred Units
      of the Borrower; 

    (f) reimbursement or payment of outside counsel, advisory and transaction fees incurred by Affiliates
      relating to the operations or business of the Borrower or its Subsidiaries; and 

    (g) compensation arrangements and customary indemnification agreements for directors (or the members of
      the comparable governing body), managers, officers and other employees of the Borrower and the other Loan Parties entered into in the ordinary course of business. 

     

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    For the avoidance of doubt, action by a member of the board of directors of the Borrower or management of the Borrower, by a member
      thereof, in their capacity as such person, which person is also an Affiliate shall not be deemed an Affiliated Transaction. 

    Section 7.8. Restrictive Agreements. The Borrower will not, and will
      not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any restrictive condition upon (a) the ability of the Borrower or any of its Subsidiaries to
      create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay
      loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereof; provided
      that (i) the foregoing shall not apply to restrictions or conditions imposed by law or applicable requirements of any Governmental Authority or by this Agreement or any other Loan Document, or agreements governing Indebtedness permitted by Section 7.1(c)
      to the extent such restrictions govern only the asset financed pursuant to such Indebtedness, and (ii) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if
      such restrictions and conditions apply only to the property or assets securing such Indebtedness. 

    Section 7.9. Sale and Leaseback Transactions. The Borrower will not,
      and will not permit any of its Subsidiaries to, enter into any arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereinafter acquired, and
      thereafter rent or lease as lessee such property or other property that it intends to use for substantially the same purpose or purposes as the property sold or transferred. 

    Section 7.10. Hedging Transactions. 

    (a) The Borrower will not, and will not permit any of its Subsidiaries to, enter into or be a party to
      any Hedging Transaction, other than: 

    (i) Subject to clause (b) of this Section 7.10, Hedging Transactions by the
      Borrower with a Lender-Related Hedge Provider or an Approved Counterparty in respect of commodities entered into not for speculative purposes the notional volumes for which (when aggregated with other commodity Hedging Transactions then in effect
      other than basis differential swaps on volumes already hedged pursuant to other Hedging Transactions) do not have the net effect to exceed, as of the date such Hedging Transaction is entered into, (A) for the period from one to twenty-four months
      following the date of execution of the Hedging Transaction, (1) eighty-five percent (85%) of the reasonably anticipated production of crude oil, (2) eighty-five percent (85%) of the reasonably anticipated production of natural gas and (3) eighty-five
      percent (85%) of the reasonably anticipated production of natural gas liquids and condensate, in each case, as such production is projected from the Borrower’s and its Subsidiaries’ proved Oil and Gas Properties as set forth on the most recent
      Reserve Report delivered pursuant to the terms of this Agreement, and (B) for the period twenty-five to forty- eight months following the date of execution of such Hedging Transaction, (1) seventy-five
      percent (75%) of the reasonably anticipated production of crude oil, (2) seventy-five percent (75%) of the reasonably anticipated production of natural gas and (3) seventy-five percent (75%) of the reasonably anticipated production of natural gas
      liquids and condensate, in each case, as such production is projected from the Borrower’s and its Subsidiaries’ proved Oil and Gas Properties as set forth on the most recent Reserve Report delivered pursuant to the terms of this Agreement. It is
      understood that Hedging Transactions in respect of commodities which may, from time to time, “hedge” the same volumes, but different elements of commodity risk thereof, shall not be aggregated together when calculating the foregoing limitations on
      notional volumes. 

     

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  (ii) Hedging Transactions by the Borrower with a Lender-Related Hedge Provider or an Approved Counterparty
    effectively converting interest rates from floating to fixed, the notional amounts of which (when aggregated and netted with all other Hedging Transactions of the Borrower then in effect effectively converting interest rates from floating to fixed) do
    not exceed seventy-five percent (75%) of the then outstanding principal amount of the Loan Parties’ Indebtedness for borrowed money which bears interest at a floating rate, and which Hedging Transactions shall not, in any case, have a tenor beyond the
    maturity date of such Indebtedness. 

  (b) In no event shall any Hedging Transaction contain any requirement, agreement or covenant for any Loan
    Party to post collateral or margin to secure their obligations under such Hedging Transaction or to cover market exposures other than Hedging Transactions with the Lender-Related Hedge Providers that are secured by the Collateral Documents pursuant to
    the terms of this Agreement and the other Loan Documents. 

  (c) The Borrower will not terminate or monetize any Hedging Transaction in respect of commodities without
    the prior written consent of the Required Lenders, except to the extent such terminations are permitted pursuant to Section 7.6. 

  Section 7.11. Amendment to Material Documents. Without the prior written
    consent of the Administrative Agent, the Borrower will not, and will not permit any of its Subsidiaries to, amend, modify or waive any of its rights under (a) its certificate of incorporation, bylaws or other organizational documents or (b) any
    Material Agreements, except in any manner that would not have a material adverse effect on the Lenders, the Administrative Agent, or a Material Adverse Effect on the Borrower and its Subsidiaries taken as a whole. 

  Section 7.12. Sale or Discount of Receivables. Except for receivables
    obtained by any Loan Party out of the ordinary course of business or the settlement of joint interest billing accounts in the ordinary course of business or discounts granted to settle collection of accounts receivable or the sale of defaulted accounts
    arising in the ordinary course of business in connection with the compromise or collection thereof and not in connection with any financing transaction, the Borrower will not, and will not permit any Subsidiary to, discount or sell (with or without
    recourse) to any Person who is not a Loan Party any of its notes receivable or accounts receivable. 

  Section 7.13. Accounting Changes. Except with prior written consent of
    the Administrative Agent, the Borrower will not, and will not permit any of its Subsidiaries to, make any significant change in accounting treatment or reporting practices, except as required by GAAP, or change the Fiscal Year of the Borrower or of any
    of its Subsidiaries, except to change the Fiscal Year of a Subsidiary to conform its Fiscal Year to that of the Borrower. 

  Section 7.14. Lease Obligations. The Borrower will not, and will not
    permit any of its Subsidiaries to, create or suffer to exist any obligations for the payment under operating leases or agreements to lease (but excluding any obligations under leases required to be classified as Capital Leases under GAAP having a term
    of five years or more or which do not go beyond the value and terms of the leased property and leases of Hydrocarbon Interests) which would cause the aggregate amount of all payments made by the Borrower and the other Loan Parties pursuant to all such
    leases or lease agreements, including any residual payments at the end of any lease, on a consolidated basis, to exceed $1,000,000 in the aggregate in any Fiscal Year. 

   

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    Section 7.15. Government Regulation. The Borrower will not, and will not
      permit any of its Subsidiaries to, (a) be or become subject at any time to any enforcement of law, regulation or list of any Governmental Authority of the United States (including, without limitation, the OFAC list) that prohibits or sanctions the
      Lenders or the Administrative Agent from making any advance or extension of credit to the Borrower or from otherwise conducting business with the Loan Parties, or (b) fail to provide documentary and other evidence of the identity of the Loan Parties
      as may be requested by the Lenders or the Administrative Agent at any time to enable the Lenders or the Administrative Agent to verify the identity of the Loan Parties or to comply with any applicable law or regulation, including, without limitation,
      Section 326 of the Patriot Act at 31 U.S.C. Section 5318. 

    Section 7.16. Gas Imbalances, Take-or-Pay or Other Prepayments. The
      Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay obligations or other prepayments with respect to the Oil and Gas Properties of any Loan Party that would require such Loan Party to deliver
      Hydrocarbons on a monthly basis at some future time without then or thereafter receiving full payment therefor to exceed two percent (2%) of the value of the proved, developed, producing Oil and Gas Properties as set forth on the most recent Reserve
      Report delivered pursuant to the terms of this Agreement in the aggregate. 

    Section 7.17. Marketing Activities. The Borrower will not, and will not
      permit any of its Subsidiaries to, enter into any contracts for the sale of Hydrocarbons other than (a) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from the Borrower’s or its Subsidiaries’ proved Oil and
      Gas Properties during the period of such contract, (b) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties of third parties during the period of such contract associated with such
      Oil and Gas Properties of the Borrower or one of its Subsidiaries that the Borrower or one of its Subsidiaries has the right to sell on behalf of such third parties and (c) other contracts for the purchase and/or sale of Hydrocarbons of third parties
      (i) which have generally offsetting provisions (i.e., corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (ii) for which appropriate credit support has been received by the Borrower or
      applicable Subsidiary to mitigate the material credit risks of the counterparty thereto. 

    Section 7.18. Non-Qualified ECP Guarantors. The Borrower shall not
      permit any Loan Party that is not a Qualified ECP Guarantor to own, at any time, any proved Oil and Gas Properties or any Capital Stock in any Subsidiaries. 

    Section 7.19. Environmental Matters. The Borrower will not, and will
      not permit any of its Subsidiaries to, cause or permit any of its Property to be in any violation of, or do anything or permit anything to be done which will subject any such Property to a Release or threatened Release of Hazardous Materials in
      violation of or to any Remedial Work required under, any Environmental Laws, other than to the extent that could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

    Section 7.20. Sanctions and Anti-Corruption Laws. 

    (a) The Borrower will not, and will not permit any Subsidiary to, request any Loan or Letter of Credit
      or, directly or indirectly, use the proceeds of any Loan and/or any Letter of Credit, or lend , contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person (i) to fund, any activities or business of
      or with any Person, or in any country or territory, that, at the time of such funding, is , or whose government is, the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any
      Person participating in the transaction, whether as an Arranger, the Administrative Agent, any Lender or the Issuing Bank or otherwise). 

     

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  (b) The Borrower will not, and will not permit any Subsidiary to request any Loan or Letter of Credit or,
    directly or indirectly, use the proceeds of any Loan and/or any Letter of Credit, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, 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 applicable Anti-Corruption Laws. 

  ARTICLE VIII  

  EVENTS OF DEFAULT 

  Section 8.1. Events of Default. If any of the following events (each, an “Event of
      Default”) shall occur and be continuing: 

  (a) the Borrower shall fail to pay any principal of any Loan or of any reimbursement obligation in respect
    of any LC Disbursement, when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment or otherwise; or 

  (b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an
    amount payable under subsection (a) of this Section or an amount related to a Bank Product Obligation) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue
    unremedied for a period of three (3) Business Days; or 

  (c) any representation or warranty made or deemed made by or on behalf of the Borrower or any of its
    Subsidiaries in or in connection with this Agreement or any other Loan Document (including the Schedules attached hereto and thereto), or in any amendments or modifications hereof or waivers hereunder, or in any certificate submitted to the
    Administrative Agent or the Lenders by any Loan Party pursuant to or in connection with this Agreement or any other Loan Document shall prove to be incorrect in any material respect (other than any representation or warranty that is expressly qualified
    by a Material Adverse Effect or other materiality, in which case such representation or warranty shall prove to be incorrect in any respect) when made or deemed made or submitted; or 

  (d) the Borrower shall fail to observe or perform any covenant or agreement contained in Section 5.2
    (with respect to clauses (a) (solely for an Event of Default) or (g)), 5.3 (with respect only to the Borrower’s legal existence) or 5.19 (with respect to the Initial Hedging Requirement) or Article VI or VII;
    or 

  (e) any Loan Party shall fail to observe or perform any covenant or agreement contained in this Agreement
    (other than those referred to in subsections (a), (b) and (d) of this Section) or any other Loan Document, and such failure shall remain unremedied for 30 days (or, with respect to (x) Section 5.1(b) and (y) Section 5.1(c)
    as it pertains to the Compliance Certificate required to be delivered concurrently with the financial statements required by Section 5.1(b), 15 days) after the earlier of (i) any officer of the Borrower becomes aware of such failure, or
    (ii) notice thereof shall have been given to the Borrower by the Administrative Agent or any Lender; or 

   

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    (f) (i) the Borrower or any of its Subsidiaries (whether as primary obligor or as guarantor or other
      surety) shall fail to pay any principal of, or premium or interest on, any Material Indebtedness (other than any Hedging Obligation) that is outstanding, when and as the same shall become due and payable (whether at scheduled maturity, required
      prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument evidencing or governing such Indebtedness; or any other event shall occur or condition
      shall exist under any agreement or instrument relating to any such Material Indebtedness and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to
      accelerate, or permit the acceleration of, the maturity of such Indebtedness prior to the stated maturity thereof; or any such Material Indebtedness shall be declared to be due and payable, or required to be prepaid, purchased, defeased or redeemed
      (other than by a regularly scheduled required prepayment or redemption) in each case prior to the stated maturity thereof or (ii) there occurs under Hedging Transactions, as to which the Borrower or any Subsidiary is a party, an Early Termination
      Date (as defined in such applicable Hedging Transactions) resulting from (A) any event of default that occurs and is continuing under such Hedging Transactions as to which the Borrower or any of its Subsidiaries is the Defaulting Party (as defined in
      such Hedging Transaction) and the Hedge Termination Value owed by the Borrower or such Subsidiary as a result thereof, individually or in the aggregate, is greater than $2,000,000 and is not paid following the notice periods, rights and remedies
      provided for in the documentation of such Hedging Transactions or (B) any Termination Event (as so defined) under such Hedging Transactions as to which the Borrower or any Subsidiary is an Affected Party (as so defined) and the Hedge Termination
      Value owed by the Borrower or such Subsidiary as a result thereof is, individually or in the aggregate, greater than $2,000,000 and is not paid following the notice periods, rights and remedies provided for in the documentation of such Hedging
      Transactions; or 

    (g) the Borrower or any of its Subsidiaries shall (i) commence a voluntary case or other proceeding or
      file any petition seeking liquidation, reorganization or other relief under any federal, state or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a custodian, trustee, receiver, liquidator
      or other similar official of it or any substantial part of its property, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in subsection (i) of this Section, (iii) apply
      for or consent to the appointment of a custodian, trustee, receiver, liquidator or other similar official for the Borrower or any such 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; or 

    (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 of its Subsidiaries or its debts, or any substantial part of its assets, under any federal, state or foreign bankruptcy, insolvency or other similar law now or
      hereafter in effect or (ii) the appointment of a custodian, trustee, receiver, liquidator or other similar official for the Borrower or any of its Subsidiaries or for a substantial part of its assets, and in any such case, such proceeding or petition
      shall remain undismissed for a period of 60 days or an order or decree approving or ordering any of the foregoing shall be entered; or 

    (i) the Borrower or any of its Subsidiaries shall generally not pay its debts as such debts become due,
      or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or 

     

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  (j) (i) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken
    together with other ERISA Events that have occurred, could reasonably be expected to result in liability to the Borrower and its Subsidiaries in an aggregate amount exceeding $500,000, (ii) there is or arises an Unfunded Pension Liability (not taking
    into account Plans with negative Unfunded Pension Liability) in an aggregate amount exceeding $500,000, or (iii) there is or arises any potential Withdrawal Liability in an aggregate amount exceeding $500,000; or 

  (k) any final judgment or order by a Government Authority (which cannot be contested by appropriate
    proceedings) for the payment of money less any insurance proceeds covering such settlements or judgments which are received or as to which the insurance carriers admit liability, in excess of $2,000,000 in the aggregate (but not including in such
    aggregate, amounts paid, or appealed as contemplated by this subsection) shall be rendered against the Borrower or any of its Subsidiaries, and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order as
    a result of nonpayment of such judgment or order in a timely manner or (ii) there shall be a period of 30 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect;
    or 

  (l) any non-monetary judgment or order shall be rendered against the Borrower or any of its Subsidiaries
    that could reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect, and there shall be a period of 30 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending
    appeal or otherwise, shall not be in effect; or 

  (m) a Change in Control shall occur or exist; or 

  (n) any provision of the Guaranty and Security Agreement or any other Collateral Document shall for any
    reason cease to be valid and binding on, or enforceable against, any Loan Party, or any Loan Party shall so state in writing, or any Loan Party shall seek to terminate its obligation under the Guaranty and Security Agreement or any other Collateral
    Document (other than the release of any guaranty or collateral to the extent permitted pursuant to the terms of this Agreement or the Collateral Documents including pursuant to Section 9.11); or 

  (o) with respect to the Collateral Documents, any Lien purported to be created under any Collateral
    Document shall fail or cease to be, or shall be asserted by any Loan Party not to be, a valid and perfected Lien on any Collateral, with the priority required by the applicable Collateral Documents, subject to the exceptions set forth therein; 

  then, and in every such event (other than an event with respect to the Borrower described in subsection (g), (h) or (i) of this Section) and
    at any time thereafter during the continuance of such event, the Administrative Agent may, and upon the written request of the Required Lenders shall, by notice to the Borrower, take any or all of the following actions, at the same or different times:
    (i) terminate the Commitments, whereupon the Commitment of each Lender shall terminate immediately, (ii) declare the principal of and any accrued interest on the Loans, and all other Obligations owing hereunder, to be, whereupon the same shall become,
    due and payable immediately, without presentment, demand, protest, further notice of intent to accelerate, notice of acceleration, or other notice of any kind (other than as provided in this paragraph), all of which are hereby waived by the Borrower,
    (iii) exercise all remedies contained in any other Loan Document, (iv) require that the Borrower cash collateralize the LC Exposure (in an amount equal to 105% of the LC Exposure) to the extent the Letter of Credit Obligations are not otherwise paid or
    cash collateralized at such time and (v) exercise any other remedies available at law or in equity; provided that, if an Event of Default specified in either subsection (g) or (h) shall occur, the Commitments shall automatically terminate and
    the principal of the Loans then outstanding, together with accrued interest thereon, and all fees and all other Obligations 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. 

   

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  Section 8.2. Application of Proceeds from Collateral. All proceeds from
    each sale of, or other realization upon, all or any part of the Collateral by any Secured Party after an Event of Default arises and during its continuance shall be applied as follows: 

  (a) first, to the reimbursable expenses of the Administrative Agent incurred in connection with
    such sale or other realization upon the Collateral, until the same shall have been paid in full; 

  (b) second, to the fees and other reimbursable expenses of the Administrative Agent and the Issuing
    Bank then due and payable pursuant to any of the Loan Documents, until the same shall have been paid in full; 

  (c) third, to all reimbursable expenses, if any, of the Lenders then due and payable pursuant to
    any of the Loan Documents, until the same shall have been paid in full; 

  (d) fourth, to the fees and interest then due and payable under the terms of this Agreement, until
    the same shall have been paid in full; 

  (e) fifth, to the aggregate outstanding principal amount of the Loans, the LC Exposure, the Bank
    Product Obligations and the Net Mark-to-Market Exposure of the Hedging Obligations that constitute Obligations which are due and owing, until the same shall have been paid in full, allocated pro rata among the Secured Parties based on their
    respective pro rata shares of the aggregate amount of such Loans, LC Exposure, Bank Product Obligations and Net Mark-to-Market Exposure of such Hedging Obligations; 

  (f) sixth, to additional cash collateral for the aggregate amount of all outstanding Letters of
    Credit until the aggregate amount of all cash collateral held by the Administrative Agent pursuant to this Agreement is at least 105% of the LC Exposure after giving effect to the foregoing clause fifth; and 

  (g) seventh, to the extent any proceeds remain, to the Borrower and the other Loan Parties or their
    successors or assigns or as otherwise provided by a court of competent jurisdiction. 

  All amounts allocated pursuant to the foregoing clauses third through fifth to the Lenders as a result of
    amounts owed to the Lenders under the Loan Documents shall be allocated among, and distributed to, the Lenders pro rata based on their respective Pro Rata Shares; provided that all amounts allocated to that portion of the LC Exposure
    comprised of the aggregate undrawn amount of all outstanding Letters of Credit pursuant to clauses fifth and sixth shall be distributed to the Administrative Agent, rather than to the Lenders, and held by the Administrative Agent in an
    account in the name of the Administrative Agent for the benefit of the Issuing Bank and the Lenders as cash collateral for the LC Exposure, such account to be administered in accordance with Section 2.21(g). All cash collateral
    for LC Exposure shall be applied to satisfy drawings under the Letters of Credit as they occur; if any amount remains on deposit on cash collateral after all letters of credit have either been fully drawn or expired, such remaining amount shall be
    applied to other Obligations, if any, in the order set forth above. 

   

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  Notwithstanding the foregoing, (a) no amount received from any Guarantor (including any proceeds of any sale of, or other
    realization upon, all or any part of the Collateral owned by such Guarantor) shall be applied to any Excluded Swap Obligation of such Guarantor and (b) Bank Product Obligations and Hedging Obligations shall be excluded from the application described
    above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the Bank Product Provider or the Lender- Related Hedge Provider, as the case may be.
    Each Bank Product Provider or Lender-Related Hedge Provider that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the
    terms of Article IX hereof for itself and its Affiliates as if a “Lender” party hereto. 

  ARTICLE IX 

  THE ADMINISTRATIVE AGENT 

  Section 9.1. Appointment of the Administrative Agent. 

  (a) Each Lender irrevocably appoints SunTrust Bank as the Administrative Agent and authorizes it to take
    such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent under this Agreement and the other Loan Documents, together with all such actions and powers that are reasonably incidental thereto. The Administrative
    Agent may perform any of its duties hereunder or under the other Loan Documents by or through any one or more sub-agents or attorneys-in-fact appointed by the Administrative Agent. The Administrative Agent and any such sub-agent or attorney-in-fact may
    perform any and all of its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions set forth in this Article shall apply to any such sub-agent, attorney-in-fact or Related Party and shall apply to
    their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the Administrative Agent. 

  (b) The Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it
    and the documents associated therewith until such time and except for so long as the Administrative Agent may agree at the request of the Required Lenders to act for the Issuing Bank with respect thereto; provided that the Issuing Bank shall
    have all the benefits and immunities (i) provided to the Administrative Agent in this Article with respect to any acts taken or omissions suffered by the Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and
    the application and agreements for letters of credit pertaining to the Letters of Credit as fully as if the term “Administrative Agent” as used in this Article included the Issuing Bank with respect to such acts or omissions and (ii) as additionally
    provided in this Agreement with respect to the Issuing Bank. 

  Section 9.2. Nature of Duties of the Administrative Agent. The
    Administrative Agent shall not have any duties or obligations except those expressly set forth in this Agreement and the other Loan Document, and its duties hereunder and thereunder shall be purely 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 or an Event of Default has occurred and is continuing, (b) the Administrative Agent shall not have
    any duty to take any discretionary action or exercise any discretionary powers, except those discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise in writing by the Required
    Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.2), provided that the Administrative Agent shall not be required to take any action that,
    in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability 

   

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   or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the
    automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and (c) except as expressly set forth in the Loan Documents, the
    Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the 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, its sub-agents or its attorneys-in-fact with the consent or at the request of the Required Lenders (or such other number or percentage
    of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 10.2 and Section 8.1) or in the absence of
    its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents or
    attorneys-in-fact except to the extent that a court of competent jurisdiction determines in a final nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agent or
    attorneys-in-fact. The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default unless and until written notice thereof (which notice shall include an express reference to such event being a “Default” or “Event of
    Default” hereunder) is given to the Administrative Agent by the Borrower or any 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 any 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 and conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article
      III or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. The Administrative Agent may consult with legal counsel (including 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 the advice of any such counsel, account or experts. 

  Section 9.3. Lack of Reliance on the Administrative Agent. Each of the
    Lenders and the Issuing Bank acknowledges that it has, independently and without reliance upon the Administrative Agent, the Issuing Bank 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. Each of the Lenders and the Issuing Bank also acknowledges that it will, independently and without reliance upon the Administrative Agent, the Issuing Bank or any other Lender and based on such
    documents and information as it has deemed appropriate, continue to make its own decisions in taking or not taking any action under or based on this Agreement, any related agreement or any document furnished hereunder or thereunder. 

  Section 9.4. Certain Rights of the Administrative Agent. If the
    Administrative Agent shall request instructions from the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances
    as provided in Section 10.2 and Section 8.1) with respect to any action or actions (including the failure to act) in connection with this Agreement, the Administrative Agent shall be entitled to refrain from
    such act or taking such act unless and until it shall have received instructions from such Lenders, and the Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have
    any right of action whatsoever against the Administrative Agent as a result of the Administrative Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders (or such other number or percentage of the
    Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 10.2 and Section 8.1) where required by the terms
    of this Agreement. 

   

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  Section 9.5. Reliance by the 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 (including any electronic message, posting or other distribution)
    believed by it to be genuine and to have been signed, sent or made by the proper Person. The Administrative Agent may also 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 (including counsel for the Borrower), independent public 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 such counsel, accountants or experts. 

  Section 9.6. The Administrative Agent in its Individual Capacity. The
    bank serving as the Administrative Agent shall have the same rights and powers under this Agreement and any other Loan Document in its capacity as a Lender as any other Lender and may exercise or refrain from exercising the same as though it were not
    the Administrative Agent; and the terms “Lenders”, “Required Lenders”, or any similar terms shall, unless the context clearly otherwise indicates, include the Administrative Agent in its individual capacity. The bank acting as the Administrative Agent
    and its Affiliates may accept de- posits from, lend money to, and generally engage in any kind of business with the Borrower or any Subsidiary or Affiliate of the Borrower as if it were not the Administrative
    Agent hereunder. 

  Section 9.7. Successor Administrative Agent. 

  (a) The Administrative Agent may resign at any time by giving notice thereof to the Lenders and the
    Borrower. Upon any such resignation, the Required Lenders shall have the right to appoint a successor Administrative Agent, subject to approval by the Borrower provided that no Default or Event of Default shall exist at such time. If no successor
    Administrative Agent shall have been so appointed, and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of resignation, then the retiring Administrative Agent may, on behalf of the Lenders,
    appoint a successor Administrative Agent which shall be a commercial bank organized under the laws of the United States or any state thereof or a bank which maintains an office in the United States. 

  (b) Upon the acceptance of its appointment as the Administrative Agent hereunder by a successor, such
    successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and
    obligations under this Agreement and the other Loan Documents. If, within 45 days after written notice is given of the retiring Administrative Agent’s resignation under this Section, no successor Administrative Agent shall have been appointed and shall
    have accepted such appointment, then on such 45th day (i) the retiring Administrative Agent’s resignation shall become effective, (ii) the retiring Administrative Agent shall thereupon be discharged from its duties and obligations under the Loan
    Documents and (iii) the Required Lenders shall thereafter perform all duties of the retiring Administrative Agent under the Loan Documents until such time as the Required Lenders appoint a successor Administrative Agent as provided above. After any
    retiring Administrative Agent’s resignation hereunder, the provisions of this Article shall continue in effect for the benefit of such retiring Administrative Agent and its representatives and agents in respect of any actions taken or not taken by any
    of them while it was serving as the Administrative Agent. 

   

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  (c) In addition to the foregoing, if a Lender becomes, and during the period it remains, a Defaulting
    Lender, and if any Default has arisen from a failure of the Borrower to comply with Section 2.24(a), then the Issuing Bank may, upon prior written notice to the Borrower and the Administrative Agent, resign as Issuing Bank
    effective at the close of business Atlanta Georgia time on the Business Day specified in such notice (which date may not be less than five (5) Business Days after the date of such notice). 

  Section 9.8. Withholding Tax. To the extent required by any applicable
    law, the Administrative Agent may withhold from any interest payment to any Lender an amount equivalent to any applicable withholding tax. If the Internal Revenue Service or any authority of the United States or any other jurisdiction asserts a claim
    that the Administrative Agent did not properly withhold tax from amounts paid to or for the account of any Lender (because the appropriate form was not delivered or was not properly executed, or because such Lender failed to notify the Administrative
    Agent of a change in circumstances that rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason), such Lender shall indemnify the Administrative Agent (to the extent that the Administrative Agent has not
    already been reimbursed by the Borrower and without limiting the obligation of the Borrower to do so) fully for all amounts paid, directly or indirectly, by the Administrative Agent as tax or otherwise, including penalties and interest, together with
    all expenses incurred, including legal expenses, allocated staff costs and any out of pocket expenses. 

  Section 9.9. The Administrative Agent May File Proofs of Claim. 

  (a) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization,
    arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or any Credit Exposure 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: 

  (i) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in
    respect of the Loans or Credit Exposure and all other Obligations 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, the Issuing Bank and the Administrative Agent
    (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Issuing Bank and the Administrative Agent and its agents and counsel and all other amounts due the Lenders, the Issuing Bank and the
    Administrative Agent under Section 10.3) allowed in such judicial proceeding; and 

  (ii) to collect and receive any monies or other property payable or deliverable on any such claims and to
    distribute the same. 

  (b) Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any
    such judicial proceeding is hereby authorized by each Lender and the Issuing Bank to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the Lenders and the Issuing
    Bank, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Section 10.3.
  

  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 or the Issuing Bank any plan of reorganization, arrangement, adjustment or composition affecting the Obligations 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. 

   

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    Section 9.10. Authorization to Execute Other Loan Documents. Each Lender
      hereby authorizes the Administrative Agent to execute on behalf of all Lenders all Loan Documents (including, without limitation, the Collateral Documents and any subordination agreements) other than this Agreement. 

    Section 9.11. Collateral and Guaranty Matters. The Lenders irrevocably authorize the
      Administrative Agent, at its option and in its discretion: 

    (a) to release any Lien on any property granted to or held by the Administrative Agent under any Loan
      Document (i) upon the termination of all Commitments, the Cash Collateralization of all reimbursement obligations with respect to Letters of Credit in an amount equal to 105% of the aggregate LC Exposure of all Lenders, and the payment in full of all
      Obligations (other than contingent indemnification obligations and such Cash Collateralized reimbursement obligations), (ii) that is sold or to be sold as part of or in connection with any sale permitted hereunder or under any other Loan Document,
      including Section 7.6, or (iii) if approved, authorized or ratified in writing in accordance with Section 10.2; and 

    (b) to release any Loan Party from its obligations under the applicable Collateral Documents if such
      Person ceases to be a Subsidiary as a result of a transaction permitted hereunder. 

    Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to
      release its interest in particular types or items of property, or to release any Loan Party from its obligations under the applicable Collateral Documents pursuant to this Section. In each case as specified in this Section, the Administrative Agent
      is authorized, at the Borrower’s expense, to execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the Liens granted under the applicable
      Collateral Documents, or to release such Loan Party from its obligations under the applicable Collateral Documents, in each case in accordance with the terms of the Loan Documents and this Section. 

    Section 9.12. Right to Realize on Collateral and Enforce Guarantee.
      Anything contained in any of the Loan Documents to the contrary notwithstanding, the Borrower, the Administrative Agent and each Lender hereby agree that (i) no Lender shall have any right individually to realize upon any of the Collateral or to
      enforce the Collateral Documents, it being understood and agreed that all powers, rights and remedies hereunder and under the Collateral Documents may be exercised solely by the Administrative Agent on behalf of the Lenders in accordance with the
      terms hereof and the Collateral Documents, and (ii) in the event of a foreclosure by the Administrative Agent on any of the Collateral pursuant to a public or private sale or other disposition, the Administrative Agent or any Lender may be the
      purchaser or licensor of any or all of such Collateral at any such sale or other disposition and the Administrative Agent, as agent for and representative of the Lenders (but not any Lender or Lenders in its or their respective individual capacities
      unless the Required Lenders shall otherwise agree in writing), shall be entitled, 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 public sale, to use and
      apply any of the Obligations as a credit on account of the purchase price for any collateral payable by the Administrative Agent at such sale or other disposition. 

     

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  Section 9.13. Secured Bank Product Obligations and Hedging Obligations. No
    Bank Product Provider or Lender-Related Hedge Provider that obtains the benefits of Section 8.2, the Collateral Documents or any Collateral by virtue of the provisions hereof or of any other Loan Document shall have any right to
    notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender
    and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory
    arrangements have been made with respect to, Bank Product Obligations and Hedging Obligations unless the Administrative Agent has received written notice of such Obligations, together with such supporting documentation as the Administrative Agent may
    request, from the applicable Bank Product Provider or Lender-Related Hedge Provider, as the case may be. 

  Section 9.14. Authority to Release Guarantors, Collateral and Liens. Each
    Lender and each Issuing Bank hereby authorizes the Administrative Agent to release any Collateral that the Administrative Agent is permitted or required to release pursuant to Section 7.6 or that is otherwise permitted to be sold
    or released pursuant to the terms of the Loan Documents, to confirm that expired leases and plugged and abandoned wells are no longer Collateral, and to release from the Collateral Documents any Guarantor that is permitted to be sold or disposed of,
    pursuant to the terms of the Loan Documents. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to a Loan Party, at such Loan Party’s sole cost and expense, any and all releases of Guaranty and
    Collateral Agreements, Liens, termination statements, assignments or other documents reasonably requested by such Loan Party in connection with any sale or other disposition of Property to the extent such sale or other disposition or the release of
    such Collateral is permitted by the terms of Section 7.6 or is otherwise authorized by the terms of the Loan Documents. 

  ARTICLE X 

  MISCELLANEOUS 

  Section 10.1. Notices. 

  (a) Written Notices. 

  (i) Except in the case of notices and other communications expressly permitted to be given by telephone,
    all notices and other communications to any party herein to be effective 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: 

   

  			
	
          To the Borrower:

        	  	Riley Exploration – Permian, LLC
		  	29 E. Reno Avenue, Suite 500
		  	Oklahoma City, OK 73104
		  	Attention: David LaLonde
		  	Telecopy Number: (405) 415-8698
		
	
          To the Administrative Agent:

        	  	SunTrust Bank
		  	3333 Peachtree Street, N.E. / 8th Floor
		  	Atlanta, Georgia 30326
		  	Attention: Yann Pirio
		  	Telecopy Number: (404) 827-6270

   

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          With a copy to

          (for Information purposes only):

        	  	SunTrust Bank
		  	Agency Services
		  	303 Peachtree Street, N.E. / 25th Floor
		  	Atlanta, Georgia 30308
		  	Attention: Doug Weltz
		  	Telecopy Number: (404) 221-2001
		
	
          To the Issuing Bank:

        	  	SunTrust Bank
		  	25 Park Place, N.E. / Mail Code 3706 / 16th Floor
		  	Atlanta, Georgia 30303
		  	Attention: Standby Letter of Credit Dept.
		  	Telecopy Number: (404) 588-8129
		
	
          To any other Lender:

        	  	the address set forth in the Administrative Questionnaire or the Assignment and Acceptance executed by such Lender

  Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the
    other parties hereto. All such notices and other communications shall be effective upon actual receipt by the relevant Person or, if delivered by overnight courier service, upon the first Business Day after the date deposited with such courier service
    for overnight (next-day) delivery or, if sent by telecopy, upon transmittal in legible form by facsimile machine or, if mailed, upon the third Business Day after the date deposited into the mail or, if delivered by hand, upon delivery; provided
    that notices delivered to the Administrative Agent or the Issuing Bank shall not be effective until actually received by such Person at its address specified in this Section. 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 as provided in Section
      10.1(b). 

  (ii) Any agreement of the Administrative Agent, the Issuing Bank or any Lender herein to receive certain notices by
    telephone or facsimile is solely for the convenience and at the request of the Borrower. The Administrative Agent, the Issuing Bank and each Lender shall be entitled to rely on the authority of any Person purporting to be a Person authorized by the
    Borrower to give such notice and the Administrative Agent, the Issuing Bank and the Lenders shall not have any liability to the Borrower or other Person on account of any action taken or not taken by the Administrative Agent, the Issuing Bank or any
    Lender in reliance upon such telephonic or facsimile notice. The obligation of the Borrower to repay the Loans and all other Obligations hereunder shall not be affected in any way or to any extent by any failure of the Administrative Agent, the Issuing
    Bank or any Lender to receive written confirmation of any telephonic or facsimile notice or the receipt by the Administrative Agent, the Issuing Bank or any Lender of a confirmation which is at variance with the terms understood by the Administrative
    Agent, the Issuing Bank and such Lender to be contained in any such telephonic or facsimile notice. 

  (b) Electronic Communications. 

   

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    (i) Notices and other communications to the Lenders and the Issuing Bank hereunder may be delivered or
      furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or the Issuing Bank
      pursuant to Article II unless such Lender, the Issuing Bank, as applicable, and the Administrative Agent have agreed to receive notices under any Section thereof by electronic communication and have agreed to the procedures governing such
      communications. The Administrative Agent or the Borrower 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 communications. 

    (ii) Unless the Administrative Agent otherwise prescribes, (A) notices and other communications sent to
      an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement) and (B) notices
      or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (A) of notification that such notice or communication is
      available and identifying the website address therefor; provided that, in the case of clauses (A) and (B) above, if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication
      shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 

    (iii) The Borrower agrees that the Administrative Agent may, but shall not be obligated to, make
      Communications available to the Issuing Bank and the other Lenders by posting the Communications on any Platform. 

    (IV) ANY PLATFORM USED BY THE ADMINISTRATIVE AGENT IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
      PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ADEQUACY OF SUCH PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, WITHOUT LIMITATION, 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 ANY THE ADMINISTRATIVE AGENT IN CONNECTION WITH THE COMMUNICATIONS OR ANY PLATFORM. IN NO
      EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES (COLLECTIVELY, THE “AGENT PARTIES”) HAVE ANY LIABILITY TO ANY LOAN PARTY, ANY LENDER, THE ISSUING BANK OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND, INCLUDING, WITHOUT
      LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN PARTY’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH AN
      PLATFORM, EXCEPT AS A RESULT OF SUCH INDEMNITEE’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT AS DETERMINED BY A COURT OF COMPETENT JURISDICTION IN A FINAL AND NON-APPEALABLE JUDGMENT. 

     

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  Section 10.2. Waiver; Amendments. 

  (a) No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in exercising any right
    or power hereunder or under any other Loan Document, and no course of dealing between the Borrower and the Administrative Agent or any Lender, 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 right or power, preclude any other or further exercise thereof or the exercise of any other right or power hereunder or thereunder. The rights and remedies of the Administrative
    Agent, the Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies provided by law. No waiver of any provision of this Agreement or of any other Loan Document or consent
    to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by subsection (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 a Loan or the issuance of a Letter of Credit shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent, any Lender
    or the Issuing Bank may have had notice or knowledge of such Default or Event of Default at the time. 

  (b) No amendment or waiver of any provision of this Agreement or of the other Loan Documents, nor consent
    to any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Borrower and the Required Lenders, or the Borrower and the Administrative Agent with the consent of the Required Lenders,
    and then such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided that, in addition to the consent of the Required Lenders, no amendment, waiver or consent shall:
  

  (i) increase the Commitment of any Lender without the written consent of such Lender; 

  (ii) increase the Borrowing Base without the written consent of each Lender; 

  (iii) modify Section 2.4 in any manner without the consent of each Lender; provided
    that a Scheduled Redetermination may be postponed by the Required Lenders; 

  (iv) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or
    reduce any fees payable hereunder, without the written consent of each Lender entitled to such payment; 

  (v) postpone the date fixed for any payment of any principal of, or interest on, any Loan or LC
    Disbursement or any fees hereunder or reduce the amount of, waive or excuse any such payment, without the written consent of each Lender entitled to such payment, or postpone the scheduled date for the termination or reduction of the Commitment of any
    Lender, without the written consent of such Lender; 

  (vi) change Section 2.20(b) or (c) in a manner that would alter the pro
      rata sharing of payments required thereby, without the written consent of each Lender; 

  (vii) change any of the provisions of this subsection (b) or the definition of “Required Lenders” or any
    other provision of this Agreement specifying the number or percentage of Lenders which are required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the consent of each Lender; 

  (viii) release all or substantially all of the guarantors, or limit the liability of such guarantors, under
    any guaranty agreement guaranteeing any of the Obligations, without the written consent of each Lender; or 

   

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    (ix) release all or substantially all collateral (if any) securing any of the Obligations, without the
      written consent of each Lender; 

    provided, further, that no such amendment, waiver or consent shall amend, modify or otherwise affect the rights, duties or
      obligations of the Administrative Agent or the Issuing Bank without the prior written consent of such Person. 

    Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any
      amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended, and amounts payable to such Lender hereunder may not be permanently reduced, without the consent of such Lender (other than reductions
      in fees and interest in which such reduction does not disproportionately affect such Lender). Notwithstanding anything contained herein to the contrary, this Agreement may be amended and restated without the consent of any Lender (but with the
      consent of the Borrower and the Administrative Agent) if, upon giving effect to such amendment and restatement, such Lender shall no longer be a party to this Agreement (as so amended and restated), the Commitments of such Lender shall have
      terminated (but such Lender shall continue to be entitled to the benefits of Sections 2.17, 2.18, 2.19 and 10.3), such Lender shall have no other commitment or other obligation hereunder and such Lender shall have been
      paid in full all principal, interest and other amounts owing to it or accrued for its account under this Agreement. 

    Section 10.3. Expenses; Indemnification. 

    (a) The Borrower shall pay (i) all reasonable, out-of-pocket costs and expenses incurred by the
      Administrative Agent and the Sole Lead Arranger, including the reasonable fees and expenses of counsel for the Administrative Agent and the Sole Lead Arranger (but limited to one primary outside counsel for the Administrative Agent and the Sole Lead
      Arranger), in connection with the syndication of the credit facility provided for herein, the preparation and administration of the Loan Documents and any amendments, modifications or waivers thereof (whether or not the transactions contemplated in
      this Agreement or any other Loan Document shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for
      payment thereunder and (iii) all out-of-pocket costs and expenses (including, without limitation, the reasonable fees, charges and disbursements of such one primary outside counsel) incurred by the Administrative Agent, the Issuing Bank or any 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 or any Letters of Credit issued hereunder, including all such
      out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

    (b) The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), the Sole Lead
      Arranger, each Lender and the Issuing Bank, 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 expenses (including, without limitation, the reasonable fees of counsel for the Indemnitees (but limited to one (1) legal counsel for all such Indemnitees collectively and, to the extent necessary, one (1) local counsel in each
      relevant jurisdiction and one (1) regulatory counsel if reasonably required for all such Indemnitees collectively and, if necessary, in the case of an actual or perceived conflict of interest as determined in good faith by legal counsel for the
      Indemnitees, one additional counsel (and, if necessary, one regulatory counsel and one local counsel in each relevant jurisdiction) to each group of similarly situated affected Indemnitees)), incurred by any Indemnitee arising out of or relating to
      (i) the execution or delivery of this Agreement, any other 

     

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     Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of
      their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the Issuing
      Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or Release of Hazardous
      Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation,
      investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party, regardless of whether any Indemnitee is a party thereto, IN
        ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; 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 non-appealable judgment to have resulted (x) from the gross negligence, bad faith or willful misconduct of such Indemnitee,
      (y) a dispute solely among Indemnitees provided that such claim does not involve an act or omission of any Loan Party and such claim is not brought against the Administrative Agent or an Issuing Bank, in each case in its capacity as such, or (z) a
      claim brought by the Borrower or any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder. This Section 10.3 shall not apply with respect to Taxes other than Taxes that represent losses, claims or
      damages arising from any non-Tax claim. 

    (c) The Borrower shall pay, and hold the Administrative Agent, the Issuing Bank and each of the Lenders
      harmless from and against, any and all present and future stamp, documentary, and other similar taxes with respect to this Agreement and any other Loan Documents, any collateral described therein or any payments due thereunder, and save the
      Administrative Agent, the Issuing Bank and each Lender harmless from and against any and all liabilities with respect to or resulting from any delay or omission to pay such taxes. 

    (d) To the extent that the Borrower fails to pay any amount required to be paid to the Administrative
      Agent or the Issuing Bank under subsection (a), (b) or (c) hereof, each Lender severally agrees to pay to the Administrative Agent or the Issuing Bank, as the case may be, such Lender’s pro rata share (in accordance with its respective
      Commitment (or Credit Exposure, as applicable) determined as of the time that the unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified payment, claim, damage,
      liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent or the Issuing Bank in its capacity as such. 

    (e) To the extent permitted by applicable law, the Borrower, the Administrative Agent, the Issuing Bank
      and the Lenders, and the other parties hereto, shall not assert, and each hereby waives, any claim against the others (including any Indemnitee), on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to
      actual or direct damages) arising out of, in connection with or as a result of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated herein or therein, any Loan or any Letter of
      Credit or the use of proceeds thereof. 

    (f) All amounts due under this Section shall be payable promptly after written demand therefor. 

     

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  Section 10.4. 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 the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender, and no
    Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of
    subsection (d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (e) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void).
    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 subsection (d) 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) Any Lender may at any time assign to one or more assignees all or a portion of its rights and
    obligations under this Agreement (including all or a portion of its Commitments, Loans and other Credit Exposure at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

  (i) Minimum Amounts. 

  (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitments,
    Loans and other Credit Exposure at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

  (B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the
    Commitment (which for this purpose includes Loans and Credit Exposure outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Loans and Credit Exposure of the assigning Lender subject to
    each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Acceptance, as of the Trade Date) shall not be
    less and $5,000,000 and in minimum increments of $1,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld
    or delayed). 

  (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a
    proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans, other Credit Exposure or the Commitments assigned. 

  (iii) Required Consents. No consent shall be required for any assignment except to the extent
    required by subsection (b)(i)(B) of this Section and, in addition: 

  (A) the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be
    required unless (x) an Event of Default has occurred and is continuing at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of such Lender or an Approved Fund of such Lender; provided that the Borrower shall be deemed to
    have consented to any such assignment unless if shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof; 

   

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  (B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed)
    shall be required; and 

  (C) the consent of the Issuing Bank (such consent not to be unreasonably withheld or delayed) shall be
    required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding). 

  (iv) Assignment and Acceptance. The parties to each assignment shall deliver to the Administrative
    Agent (A) a duly executed Assignment and Acceptance, (B) a processing and recordation fee of $3,500, (C) an Administrative Questionnaire unless the assignee is already a Lender and (D) the documents required under Section 2.19. 

  (v) No Assignment to the certain Persons. No such assignment shall be made to (A) the Borrower or
    any of the Borrower’s Affiliates or Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B). 

  (vi) No Assignment to Natural Persons. No such assignment shall be made to a natural person. 

  (vii) Certain Additional Payments. In connection with any assignment of rights and obligations of
    any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an
    aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower
    and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all
    payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Issuing Bank and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and
    participations in Letters of Credit. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this
    paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

  Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the
    effective date specified in each Assignment and Acceptance, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Acceptance, 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 Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance 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 Sections 2.17, 2.18, 2.19 and 10.3 with respect to facts
    and circumstances occurring prior to the effective date of such 

   

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   assignment; provided that, except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting
    Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with
    this subsection 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 subsection (d) of this Section. 

  (c) The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at
    one of its offices in Atlanta, Georgia a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount of the Loans and Credit Exposure
    owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). Information contained in the Register with respect to any Lender shall be available for inspection by such Lender at any reasonable time and from time to time
    upon reasonable prior notice; information contained in the Register shall also be available for inspection by the Borrower at any reasonable time and from time to time upon reasonable prior notice. In establishing and maintaining the Register, the
    Administrative Agent shall serve as a nonfiduciary agent of the Borrower solely for tax purposes and solely with respect to the actions described in this Section, and the Borrower hereby agrees that, to the extent SunTrust Bank serves in such capacity,
    SunTrust Bank and its officers, directors, employees, agents, sub-agents and affiliates shall constitute “Indemnitees”. 

  (d) Any Lender may at any time, without the consent of, or notice to, the Borrower, the Administrative
    Agent or the Issuing Bank, sell participations to any Person (other than a natural person, the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations
    under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the
    other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Issuing Bank 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 any amendment, modification or waiver that is described in clauses (i) through (x) of Section 10.2(b) and that directly affects such Participant. the Borrower agrees that each Participant shall be
    entitled to the benefits of Section 2.17, Section 2.18 and Section 2.19, to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection
    (b) of this Section; provided that such Participant (A) agrees to be subject to Section 2.22 as though it were an assignee under subsection (b) of this Section; and (B) shall not be entitled to receive any greater payment
    under Section 2.17 or Section 2.19 , 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. Each Lender that sells participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to
    effectuate the provisions of Section 2.23 with respect to any Participation. 

  Each Lender that sells a participation shall, acting solely for this purpose as a non-
    fiduciary agent of the Borrower, maintain a register in the United States on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in 

   

  105 

   

  

  
     the Loans or other obligations under the Loan Documents (the “Participant Register”). 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. The
      Borrower and the Administrative Agent shall have inspection rights to such Participant Register (upon reasonable prior notice to the applicable Lender) solely for purposes of demonstrating that such Loans or other obligations under the Loan Documents
      are in “registered form” for purposes of the Code. 

    (e) 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 any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations
      hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

    Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process. 

    (a) This Agreement and the other Loan Documents and any claims, controversy, dispute or cause of action
      (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (except, as to any other Loan Document, as expressly set forth therein) and the transactions contemplated hereby and
      thereby shall be construed in accordance with and be governed by the law (without giving effect to the conflict of law principles thereof) of the State of New York (including Section 5-1401 and Section 5-1402 of the General Obligations Law of the
      State of New York). 

    (b) THE BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE
      NON-EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND OF ANY APPELLATE COURT THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
      RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, 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 COURTS OR, TO THE EXTENT PERMITTED BY APPLICABLE LAW, SUCH APPELLATE COURTS. 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 or any other Loan Document shall affect any right that the Administrative Agent, the Issuing Bank
      or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against the Borrower or its properties in the courts of any jurisdiction. 

    (c) The Borrower irrevocably and unconditionally waives any objection which it may now or hereafter have
      to the laying of venue of any such suit, action or proceeding described in subsection (b) of this Section and brought in any court referred to in subsection (b) of this Section. Each of the parties hereto irrevocably waives, to the fullest extent
      permitted by applicable 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 the service of process in the manner provided
      for notices in Section 10.1. Nothing in this Agreement or in any other Loan Document will affect the right of any party hereto to serve process in any other manner permitted by law. 

     

    106 

  

   

  

  
    Section 10.6. WAIVER OF JURY TRIAL. EACH PARTY HERETO IRREVOCABLY
      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 THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
      THEREBY (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 AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
      THIS SECTION. 

    Section 10.7. Right of Set-off. In addition to any rights now or
      hereafter granted under applicable law and not by way of limitation of any such rights, each Lender and the Issuing Bank shall have the right, at any time or from time to time upon the occurrence and during the continuance of an Event of Default,
      without prior notice to the Borrower, any such notice being expressly waived by the Borrower to the extent permitted by applicable law, to set off and apply against all deposits (general or special, time or demand, provisional or final) of the
      Borrower at any time held or other obligations at any time owing by such Lender and the Issuing Bank to or for the credit or the account of the Borrower against any and all Obligations held by such Lender or the Issuing Bank, as the case may be,
      irrespective of whether such Lender or the Issuing Bank shall have made demand hereunder and although such Obligations may be unmatured; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all
      amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.24(b) and, pending such payment, shall be segregated by such Defaulting Lender
      from its other funds and deemed held in trust for the benefit of the Administrative Agent, the Issuing Banks, and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable
      detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. Each Lender and the Issuing Bank agrees promptly to notify the Administrative Agent and the Borrower after any such set-off and any application made
      by such Lender or the Issuing Bank, as the case may be; provided that the failure to give such notice shall not affect the validity of such set-off and application. Each Lender and the Issuing Bank agrees to apply all amounts collected from
      any such set-off to the Obligations before applying such amounts to any other Indebtedness or other obligations owed by the Borrower and any of its Subsidiaries to such Lender or the Issuing Bank. Notwithstanding anything herein to the contrary,
      there shall be no right of set-off with respect to reserve accounts established by any Loan Party attributable to third party working interest or royalty interest owners to the extent of amounts held in such account that belong to third party working
      interest and royalty interest owners. 

    Section 10.8. Counterparts; Integration. This Agreement may be executed
      by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. This Agreement, the other Loan Documents, and any separate
      letter agreements relating to any fees payable to the Administrative Agent and its Affiliates constitute the entire agreement among the parties hereto and thereto and their affiliates regarding the subject matters hereof and thereof and supersede all
      prior agreements and understandings, oral or written, regarding such subject matters. Delivery of an executed counterpart to this Agreement or any other Loan Document by facsimile transmission or by electronic mail in pdf format shall be as effective
      as delivery of a manually executed counterpart hereof. 

     

    107 

  

   

  

  
    Section 10.9. Survival. All covenants, agreements, representations and
      warranties made by the Borrower herein and in the certificates, reports, notices 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 other Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding
      that the Administrative Agent, the Issuing Bank 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 or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The
      provisions of Section 2.17, 2.18, 2.19(c), and 10.3 and Article IX shall survive and remain 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 Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof. 

    Section 10.10. Severability. Any provision of this Agreement or any other Loan
      Document held to be illegal, invalid or unenforceable in any jurisdiction, shall, as to such jurisdiction, be ineffective to the extent of such illegality, invalidity or unenforceability without affecting the legality, validity or enforceability of
      the remaining provisions hereof or thereof; and the illegality, invalidity or unenforceability of a particular provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

    Section 10.11. Confidentiality. Each of the Administrative Agent, the Issuing
      Bank and the Lenders agrees to take normal and reasonable precautions to maintain the confidentiality of any information relating to the Borrower or any of its Subsidiaries or any of their respective businesses, to the extent designated in writing as
      confidential and provided to it by the Borrower or any of its Subsidiaries, other than any such information that is available to the Administrative Agent, the Issuing Bank or any Lender on a non-confidential basis prior to disclosure by the Borrower
      or any of its Subsidiaries, except that such information may be disclosed (i) to any Related Party of the Administrative Agent, the Issuing Bank or any such Lender including, without limitation, accountants, legal counsel and other advisors, (ii) to
      the extent required by applicable laws or regulations or by any subpoena or similar legal process, (iii) to the extent requested by any regulatory agency or authority purporting to have jurisdiction over it (including any self-regulatory authority
      such as the National Association of Insurance Commissioners), (iv) to the extent that such information becomes publicly available other than as a result of a breach of this Section, or which becomes available to the Administrative Agent, the Issuing
      Bank, any Lender or any Related Party of any of the foregoing on a non-confidential basis from a source other than the Borrower or any of its Subsidiaries, (v) in connection with the exercise of any remedy hereunder or under any other Loan Documents
      or any suit, action or proceeding relating to this Agreement or any other Loan Documents or the enforcement of rights hereunder or thereunder, (vi) subject to execution by such Person of an agreement containing provisions substantially the same as
      those of this Section, to (A) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement, or (B) any actual or prospective party (or its Related Parties) to any swap or
      derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder, (vii) to any rating agency, (viii) to the CUSIP Service Bureau or any similar organization, or
      (ix) with the consent of the Borrower. Any Person required to maintain the confidentiality of any information as provided for 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 its own confidential information. In the event of any conflict between the terms of this Section and those of any other Contractual Obligation entered into
      with any Loan Party (whether or not a Loan Document), the terms of this Section shall govern. 

     

    108 

  

   

  

  
    Section 10.12. 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 may be treated as interest on such Loan under applicable law (collectively, the “Charges”), shall exceed the maximum
      lawful rate of interest (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by a 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 Rate to the date of repayment (to the extent permitted by applicable law), shall have been received by such Lender. 

    Section 10.13. Waiver of Effect of Corporate Seal. The Borrower represents and
      warrants that neither it nor any other Loan Party is required to affix its corporate seal to this Agreement or any other Loan Document pursuant to any Requirement of Law, agrees that this Agreement is delivered by the Borrower under seal and waives
      any shortening of the statute of limitations that may result from not affixing the corporate seal to this Agreement or such other Loan Documents. 

    Section 10.14. Patriot Act. The Administrative Agent and each Lender hereby
      notifies the Loan Parties that, pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of such Loan Party and other
      information that will allow such Lender or the Administrative Agent, as applicable, to identify such Loan Party in accordance with the Patriot Act. 

    Section 10.15. No Advisory or Fiduciary Responsibility. In connection with all
      aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower and each other Loan Party acknowledges and agrees and acknowledges its
      Affiliates’ understanding that (i) (A) the services regarding this Agreement provided by the Administrative Agent, the Sole Lead Arranger and/or the Lenders are arm’s-length commercial transactions between the Borrower, each other Loan Party and
      their respective Affiliates, on the one hand, and the Administrative Agent, the Sole Lead Arranger and the Lenders, on the other hand, (B) each of the Borrower and the other Loan Parties have consulted their own legal, accounting, regulatory and tax
      advisors to the extent they have deemed appropriate, and (C) the Borrower and each other Loan Party is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and
      by the other Loan Documents; (ii) (A) each of the Administrative Agent, the Sole Lead Arranger and the Lenders is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and
      will not be acting as an advisor, agent or fiduciary for the Borrower, any other Loan Party or any of their respective Affiliates, or any other Person, and (B) none of the Administrative Agent and the Lenders have no obligation to the Borrower, any
      other Loan Party or any of their Affiliates with respect to the transaction contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Sole Lead Arranger, the
      Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower, the other Loan Parties and their respective Affiliates, and each of the Administrative Agent, the
      Sole Lead Arranger and the Lenders has no obligation to disclose any of such interests to the Borrower, any other Loan Party or any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrower and the other Loan
      Parties hereby waives and releases any claims that it may have against the Administrative Agent, the Sole Lead Arranger or any Lender with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any
      transaction contemplated hereby. 

     

    109 

  

   

  

  Section 10.16. Acknowledgment and Consent to Bail-In
        of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA
    Financial Institution arising under any Loan Document may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

  (i) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such
    liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

  (ii) the effects of any Bail-In Action on any such liability, including, if applicable: 

  (A) a reduction in full or in part or cancellation of any such liability; 

  (B) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in
    such EEA Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any
    such liability under this Agreement or any other Loan Document; or 

  (C) the variation of the terms of such liability in connection with the exercise of the write-down and
    conversion powers of any EEA Resolution Authority. 

  (remainder of page left intentionally blank) 

   

  110 

   

  

  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:

             

          
	RILEY EXPLORATION - PERMIAN, LLC
		
	By:	 	/s/ David LaLonde
		 	David LaLonde
		 	Chief Financial Officer

  

  Signature Page to 

  Credit Agreement 

   

  

  
    			
	ADMINISTRATIVE AGENT, ISSUING BANK, AND LENDER:
	
	SUNTRUST BANK
	as the Administrative Agent, as the Issuing Bank and as a Lender
		
	By:	 	/s/ John Kovarik
		 	John Kovarik
		 	Director

  

  Signature Page to 

  Credit Agreement 

   

  

  
    			
	
            LENDER:

             

          
	IBERIABANK
	as a Lender
		
	By:	 	/s/ Moni Collins
		 	Moni Collins
		 	Senior Vice President

  

  Signature Page to 

  Credit Agreement 

   

  

  SCHEDULE I 

  Applicable Margin and Applicable Percentage 

   

  									
	
          Pricing Level

        	  	
          Borrowing Base

          Utilization

          Percentage

        	  	
          Applicable Margin

          for Eurodollar Loans

        	  	
          Applicable Margin

          for Base Rate

          Loans

        	  	
          Applicable

          Percentage for

          Unused

          Commitment Fee

        
	
          I

        	  	< 25%	  	
          2.50%

          per annum

        	  	
          1.50%

          per annum

        	  	
          0. 375%

          per annum

        
	
          II

        	  	
          3 25% but < 50%

        	  	
          2.75%

          per annum

        	  	
          1.75%

          per annum

        	  	
          0.375%

          per annum

        
	
          III

        	  	
          3 50% but < 75%

        	  	
          3.00%

          per annum

        	  	
          2.00%

          per annum

        	  	
          0.375%

          per annum

        
	
          IV

        	  	
          3 75% but < 90%

        	  	
          3.25%

          per annum

        	  	
          2.25%

          per annum

        	  	
          0.375%

          per annum

        
	
          V

        	  	3 90%	  	
          3.50%

          per annum

        	  	
          2.50%

          per annum

        	  	
          0.500%

          per annum

        

  Schedule I to Credit Agreement 

   

  

  SCHEDULE II 

  Maximum Loan Amounts 

   

  													
	
          Lender

        	  	Pro Rata Share	 	 	Pro Rata Share of

          Borrowing Base	 	  	Maximum Loan

          Amount	 
	
          SunTrust Bank

        	  	 	60	% 	 	$	15,000,000	 	  	$	300,000,000	 
	
          IBERIABANK

        	  	 	40	% 	 	$	10,000,000	 	  	$	200,000,000	 
		  	
           

        	
           

        	 	 	
           

        	
           

        	 	  	
           

        	
           

        	 
	
          TOTAL

        	  	 	100	% 	 	$	25,000,000	 	  	$	500,000,000	 
		  	
           

        	
           

        	 	 	
           

        	
           

        	 	  	
           

        	
           

        	 

  Schedule II to Credit Agreement 

   

  

  EXHIBIT A 

  Form of Assignment and Acceptance 

  This Assignment and Acceptance (the “Assignment and Acceptance”) 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 (together with all amendments, restatements, supplements or other modifications thereto, 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 Acceptance 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 identified below (including any guarantees included therein) 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 Acceptance, without representation or warranty by the Assignor. 

   

  					
			
	1. Assignor:	  	
           

        	  	
			
	2. Assignee:	  	
           

        	  	
		
		  	[and is an Affiliate/Approved Fund of [identify Lender]1]
		
	3. Borrower:	  	Riley Exploration – Permian, LLC
		
	4. Administrative Agent:	  	
          SunTrust Bank, as the Administrative Agent under the Credit

          Agreement

        
		
	5. Credit Agreement:	  	The Credit Agreement dated as of September 28, 2017, among Riley Exploration – Permian, LLC, the Lenders parties thereto, and SunTrust Bank, as Administrative Agent.
		
	6. Assigned Interest:	  	

   

  	1 	Select as applicable. 

   

  

  											
	
          Aggregate Maximum Loan

          Amount for all Lenders

        	 	  	Amount of

          Aggregate Maximum Loan

          Amount Assigned	 	  	Percentage Assigned of

          Aggregate Maximum Loan

          Amount	 
	$		 	  	$		 	  	 	%	 

  Effective Date:                      , 20     [TO BE INSERTED BY THE ADMINISTRATIVE AGENT AND WHICH
    SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

  The Assignee agrees to deliver to the Administrative Agent a completed administrative questionnaire in which the Assignee
    designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower, its Subsidiaries and their Affiliates or their respective securities) will be made available and who
    may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

  The terms set forth in this Assignment and Acceptance are hereby agreed to: 

   

  
    					
	ASSIGNOR
	
	[NAME OF ASSIGNOR]
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	ASSIGNEE
	
	[NAME OF ASSIGNEE]
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  

   

  

  					
	[Consented to and]2 Accepted:
	
	
          SUNTRUST BANK, as

          Administrative Agent

        
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	[Consented to and]3 Accepted:
	
	
          SUNTRUST BANK, as

          Issuing Bank

        
	
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	
          [Consented to and]4 Accepted:

           

          RILEY EXPLORATION - PERMIAN, LLC

        
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

   

  	2 	To be added only if the consent of the Administrative Agent is required by Section 10.4(b) of the Credit Agreement. 

  	3 	To be added only if the consent of the Issuing Bank is required by Section 10.4(b) of the Credit Agreement. 

  	4 	To be added only if the consent of the Borrower is required by Section 10.4(b) of the Credit Agreement. 

   

  

  ANNEX 1 

  STANDARD TERMS AND CONDITIONS FOR 

  ASSIGNMENT AND ACCEPTANCE 

  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, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Acceptance and to
    consummate the transactions contemplated hereby, and (iv) it is not a Defaulting Lender; 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 of its Subsidiaries or Affiliates or any
    other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries 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 Acceptance and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the 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 (subject to such consents, if any, as may be required thereunder), (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 5.1 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
    Acceptance and to purchase the Assigned Interest, (v) it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (vi) attached to the Assignment and Acceptance 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 Acceptance shall be binding upon, and inure to the benefit of, the
    parties hereto and their respective successors and assigns. This Assignment and Acceptance may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this
    Assignment and Acceptance by telecopy or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Assignment and Acceptance. This Assignment and Acceptance shall be governed by, and construed in accordance
    with, the law of the State of New York (without giving effect to the conflict of law principles thereof). 

   

  

  EXHIBIT B 

  Form of Promissory Note 

  NOTE 

  [Date] 

  For value received, the undersigned Riley Exploration - Permian, LLC, a Delaware limited liability company (“Borrower”),
    hereby promises to pay [LENDER] (“Payee”), at the Payment Office of SunTrust Bank, as administrative agent for the Lenders (the “Administrative Agent”) in accordance with Section 2.20 of the Credit Agreement (as defined below),
    the aggregate unpaid outstanding principal amount of the Loans (as defined in the Credit Agreement) made by the Payee to Borrower, together with interest on the unpaid principal amount of the Loans from the date of such Loans until such principal
    amount is paid in full, at such interest rates, and at such times, as are specified in the Credit Agreement. 

  This Note is one of the promissory notes referred to in, and is entitled to the benefits of, and is subject to the terms
    of, the Credit Agreement dated as of September 28, 2017 (as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Borrower, the lenders party thereto (the “Lenders”),

    and Administrative Agent. Capitalized terms used in this Note that are defined in the Credit Agreement and not otherwise defined in this Note have the meanings assigned to such terms in the Credit Agreement. The Credit Agreement, among other things,
    (a) provides for the making of the Loans by the Payee to Borrower in an aggregate amount not to exceed at any time outstanding Payee’s Commitment, and (b) contains provisions for acceleration of the maturity of this Note upon the happening of certain
    Events of Default stated in the Credit Agreement and for prepayments of Loans prior to the maturity of this Note upon the terms and conditions specified in the Credit Agreement. The Payee shall record payments of principal made under this Note, but no
    failure of the Payee to make such recordings shall affect Payee’s or Borrower’s rights or obligations in respect of such Loans. 

  This Note is issued pursuant to, and is subject to the terms and conditions set forth in, the Credit Agreement and is
    entitled to the benefits provided for in the Credit Agreement and the other Loan Documents. In the event of any explicit or implicit conflict between any provision of this Note and any provision of the Credit Agreement, the terms of the Credit
    Agreement shall be controlling. 

  THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  BORROWER AGREES TO THE PROVISIONS OF SECTIONS 10.5 AND 10.6 OF THE CREDIT
      AGREEMENT AND SUCH PROVISIONS ARE INCORPORATED HEREIN, MUTATIS MUTANDIS, AS A PART HEREOF. 

   

  

  
    			
	BORROWER:
	
	RILEY EXPLORATION - PERMIAN, LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

   

  

  EXHIBIT 2.3 

  Form of Notice of Borrowing 

  [Date] 

  SunTrust Bank, 

  as Administrative Agent 

  for the Lenders referred to below 

  3333 Peachtree Street, N.E. / 8th Floor 

  Atlanta, Georgia 30326 

  Ladies and Gentlemen: 

  Reference is made to the Credit Agreement dated as of September 28, 2017 (as amended and in effect on the date hereof, the “Credit

      Agreement”), among the undersigned, as Borrower, the lenders from time to time party thereto, and SunTrust Bank, as Administrative Agent. Terms defined in the Credit Agreement are used herein with the same meanings. This notice constitutes a
    Notice of Borrowing, and the Borrower hereby requests a Borrowing under the Credit Agreement, and in that connection the Borrower specifies the following information with respect to the Borrowing requested hereby: 

   

  	 	(A)	Aggregate principal amount of Borrowing5:                          

   

  	 	(B)	Date of Borrowing (which is a Business Day):                          

   

  	 	(C)	Interest Rate basis6:                         

   

  	 	(D)	Interest Period7:                          

   

  	 	(E)	Location and number of Borrower’s account to which proceeds of Borrowing are to be disbursed:                          

   

   

  	5 	Not less than $1,000,000 and an integral multiple of $500,000 for a Eurodollar Borrowing or less than $500,000 and an integral multiple of $100,000 for Base Rate Borrowing. 

  	6 	Eurodollar Borrowing or Base Rate Borrowing. 

  	7 	In the case of a Eurodollar Borrowing the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of “Interest Period” in the Credit Agreement) and end not
          later than the Commitment Termination Date. 

   

  

  The Borrower hereby represents and warrants that on the date hereof the conditions specified in paragraphs (a), (b), (c)
    and (e) of Section 3.2 of the Credit Agreement are satisfied. 

   

  
    			
	Very truly yours,
	
	RILEY EXPLORATION - PERMIAN, LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

   

  

  EXHIBIT 2.6 

  Form of Notice of Conversion/Continuation 

  SunTrust Bank, 

  as Administrative Agent 

  for the Lenders referred to below 

  3333 Peachtree Street, N.E. / 8th Floor 

  Atlanta, Georgia 30326 

  Ladies and Gentlemen: 

  Reference is made to the Credit Agreement dated as of September 28, 2017 (as amended and in effect on the date hereof, the
    “Credit Agreement”), among the undersigned, as Borrower, the lenders named therein, and SunTrust Bank, as Administrative Agent. Terms defined in the Credit Agreement are used herein with the same meanings. This notice constitutes a Notice of
    Conversion/Continuation and the Borrower hereby requests the conversion or continuation of a Borrowing under the Credit Agreement, and in that connection the Borrower specifies the following information with respect to the Borrowing to be converted or
    continued as requested hereby: 

   

  	 	(A)	Borrowing to which this request applies:                                  

   

  	 	(B)	Principal amount of Borrowing to be converted/continued:                                  

   

  	 	(C)	Effective date of election (which is a Business Day):                                  

   

  	 	(D)	Interest rate basis:                                  

   

  	 	(E)	Interest Period:                                  

   

  
    			
	Very truly yours,
	
	RILEY EXPLORATION - PERMIAN, LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

   

  

  EXHIBIT 2.19A 

  FORM OF 

  U.S. TAX COMPLIANCE CERTIFICATE 

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

  Reference is hereby made to the Credit Agreement dated as of September 28, 2017 (as amended, supplemented or otherwise
    modified from time to time, the “Credit Agreement”), among Riley Exploration – Permian, LLC, as Borrower, SunTrust Bank, as Administrative Agent, and each lender from time to time party thereto. 

  Pursuant to the provisions of Section 2.19 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 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. 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[    ] 

   

  

  EXHIBIT 2.19B 

  FORM OF 

  U.S. TAX COMPLIANCE CERTIFICATE 

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

  Reference is hereby made to the Credit Agreement dated as of September 28, 2017 (as amended, supplemented or otherwise
    modified from time to time, the “Credit Agreement”), among Riley Exploration – Permian, LLC, as Borrower, SunTrust Bank, as Administrative Agent, and each lender from time to time party thereto. 

  Pursuant to the provisions of Section 2.19 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.
    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[    ] 

   

  

  EXHIBIT 2.19C 

  FORM OF 

  U.S. TAX COMPLIANCE CERTIFICATE 

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

  Reference is hereby made to the Credit Agreement dated as of September 28, 2017 (as amended, supplemented or otherwise
    modified from time to time, the “Credit Agreement”), among Riley Exploration – Permian, LLC, as Borrower, SunTrust Bank, as Administrative Agent, and each lender from time to time party thereto. 

  Pursuant to the provisions of Section 2.19 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 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 (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN 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 PARTICIPANT]
		
	By:	 	 
		 	Name:
		 	Title:

  Date:                  , 20[    ] 

   

  

  EXHIBIT 2.19D 

  FORM OF 

  U.S. TAX COMPLIANCE CERTIFICATE 

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

  Reference is hereby made to the Credit Agreement dated as of September 28, 2017 (as amended, supplemented or otherwise
    modified from time to time, the “Credit Agreement”), among Riley Exploration – Permian, LLC, as Borrower, SunTrust Bank, as Administrative Agent, and each lender from time to time party thereto. 

  Pursuant to the provisions of Section 2.19 of the Credit Agreement, the undersigned hereby certifies
    that (i) it is the sole record owner of the Loan(s) (as well as any 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 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 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 (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN 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[    ] 

   

  

  EXHIBIT 5.1(c) 

  Form of Compliance Certificate 

  [Date] 

   

  	To:	SunTrust Bank, as Administrative Agent 

  	    	3333 Peachtree Street, N.E. / 8th Floor 

  	    	Atlanta, Georgia 30326 

  Ladies and Gentlemen: 

  Reference is made to that certain Credit Agreement dated as of September 28, 2017 (as amended and in effect on the date hereof, the “Credit

      Agreement”), among Riley Exploration – Permian, LLC (the “Borrower”), the lenders named therein, and SunTrust Bank, as Administrative Agent. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such
    terms in the Credit Agreement. 

  I,                             , being the duly elected and qualified, and acting in my capacity as [chief executive
    officer] [chief financial officer] of the Borrower, hereby certify to the Administrative Agent and each Lender as follows: 

  1. Attached as Exhibit A are consolidated financial statements of the Borrower and its Subsidiaries attached
    hereto for the fiscal [quarter][year] ending                              in compliance with Section 5.1(a) or (b), as applicable, of the Credit Agreement. 

  2. The calculations set forth in Attachment 1 are computations of the financial covenants set forth in Article VI
    of the Credit Agreement calculated from the financial statements referenced in clause 1 above in accordance with the terms of the Credit Agreement. 

  3. As of the date hereof, no Default or Event of Default exists and is continuing. 

  4. No change in GAAP or the application thereof has occurred since the date of the most recently delivered audited
    financial statements of the Borrower and its Subsidiaries, other than changes with the effect on the financial statements attached hereto as set forth therein or as specified in an exhibit hereto. 

  5. The identity of the Subsidiaries of Borrower have not changed since the [Closing Date] [the date of the last Compliance
    Certificate delivered to the Administrative Agent that provided an update to the Subsidiary list], except as specified in an exhibit hereto. 

   

  
    					
	By:	 	 

  

  
    					
	Name:	 	 

  

  
    					
	Title: 	 	 

  

   

  

  
    Exhibit A 

    Financial Statements 

  

   

  

  Attachment to Compliance Certificate

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