Document:

Indenture dated as of March 15, 2005

 EXHIBIT 4.3 
  

DELTA PETROLEUM CORPORATION, 
  
 THE SUBSIDIARY GUARANTORS PARTIES HERETO 
  
 AND 
  
 U.S. BANK NATIONAL ASSOCIATION, 
 AS TRUSTEE 
  
 7% Senior Notes due 2015 
  

  
 INDENTURE 
  
 Dated as of March 15, 2005 
  

 Table of Contents 
  

			
	 	  	Page

	ARTICLE I
	 Definitions and Incorporation by Reference
	  	1
		
	 SECTION 1.1. Definitions
	  	1
	 SECTION 1.2. Other Definitions
	  	32
	 SECTION 1.3. Incorporation by Reference of Trust Indenture Act
	  	35
	 SECTION 1.4. Rules of Construction
	  	35
	
	ARTICLE II
	 The Securities
	  	36
		
	 SECTION 2.1. Form, Dating and Terms
	  	36
	 SECTION 2.2. Execution and Authentication
	  	42
	 SECTION 2.3. Registrar and Paying Agent
	  	43
	 SECTION 2.4. Paying Agent to Hold Money in Trust
	  	44
	 SECTION 2.5. Securityholder Lists
	  	44
	 SECTION 2.6. Transfer and Exchange
	  	44
	 SECTION 2.7. Mutilated, Destroyed, Lost or Stolen Securities
	  	47
	 SECTION 2.8. Outstanding Securities
	  	48
	 SECTION 2.9. Temporary Securities
	  	49
	 SECTION 2.10. Cancellation
	  	49
	 SECTION 2.11. Payment of Interest; Defaulted Interest
	  	49
	 SECTION 2.12. Computation of Interest
	  	51
	 SECTION 2.13. CUSIP Numbers
	  	51
	
	ARTICLE III
	 Covenants
	  	51
		
	 SECTION 3.1. Payment of Securities
	  	51
	 SECTION 3.2. Commission Reports
	  	51
	 SECTION 3.3. Limitation on Indebtedness
	  	52
	 SECTION 3.4. Limitation on Restricted Payments
	  	56
	 SECTION 3.5. Limitation on Liens
	  	61
	 SECTION 3.6. Limitation on Sale/Leaseback Transactions
	  	62
	 SECTION 3.7. Limitation on Restrictions on Distributions from Restricted Subsidiaries
	  	62
	 SECTION 3.8. Limitation on Sales of Assets and Subsidiary Stock
	  	64
	 SECTION 3.9. Limitation on Affiliate Transactions
	  	68
	 SECTION 3.10. Change of Control
	  	69
	 SECTION 3.11. Limitation on Sale of Capital Stock of Restricted Subsidiaries
	  	71
	 SECTION 3.12. Future Subsidiary Guarantors
	  	71
	 SECTION 3.13. Limitation on Lines of Business
	  	71
	 SECTION 3.14. Maintenance of Office or Agency
	  	71
	 SECTION 3.15. Corporate Existence
	  	72

  

 i 

			
	 SECTION 3.16. Payment of Taxes and Other Claims
	  	72
	 SECTION 3.17. Payments for Consent
	  	72
	 SECTION 3.18. Compliance Certificate
	  	73
	 SECTION 3.19. Further Instruments and Acts
	  	73
	 SECTION 3.20. Statement by Officers as to Default
	  	73
	
	ARTICLE IV
	 Successor Company
	  	73
		
	 SECTION 4.1. Merger and Consolidation
	  	73
	
	ARTICLE V
	 Redemption of Securities
	  	75
		
	 SECTION 5.1. Optional Redemption
	  	75
	 SECTION 5.2. Applicability of Article
	  	76
	 SECTION 5.3. Election to Redeem; Notice to Trustee
	  	76
	 SECTION 5.4. Selection by Trustee of Securities to Be Redeemed
	  	76
	 SECTION 5.5. Notice of Redemption
	  	77
	 SECTION 5.6. Deposit of Redemption Price
	  	78
	 SECTION 5.7. Securities Payable on Redemption Date
	  	78
	 SECTION 5.8. Securities Redeemed in Part
	  	78
	
	ARTICLE VI
	 Defaults and Remedies
	  	78
		
	 SECTION 6.1. Events of Default
	  	78
	 SECTION 6.2. Acceleration
	  	81
	 SECTION 6.3. Other Remedies
	  	82
	 SECTION 6.4. Waiver of Past Defaults
	  	82
	 SECTION 6.5. Control by Majority
	  	82
	 SECTION 6.6. Limitation on Suits
	  	83
	 SECTION 6.7. Rights of Holders to Receive Payment
	  	83
	 SECTION 6.8. Collection Suit by Trustee
	  	83
	 SECTION 6.9. Trustee May File Proofs of Claim
	  	83
	 SECTION 6.10. Priorities
	  	84
	 SECTION 6.11. Undertaking for Costs
	  	84
	 SECTION 6.12. Additional Payments
	  	84
	 SECTION 6.13. Waiver of Stay
	  	84
	
	ARTICLE VII
	 Trustee
	  	85
		
	 SECTION 7.1. Duties of Trustee
	  	85
	 SECTION 7.2. Rights of Trustee
	  	86
	 SECTION 7.3. Individual Rights of Trustee
	  	87
	 SECTION 7.4. Trustee’s Disclaimer
	  	87

  

 ii 

			
	 SECTION 7.5. Notice of Defaults
	  	87
	 SECTION 7.6. Reports by Trustee to Holders
	  	87
	 SECTION 7.7. Compensation and Indemnity
	  	87
	 SECTION 7.8. Replacement of Trustee
	  	88
	 SECTION 7.9. Successor Trustee by Merger
	  	89
	 SECTION 7.10. Eligibility; Disqualification
	  	89
	 SECTION 7.11. Preferential Collection of Claims Against Company
	  	90
	
	ARTICLE VIII
	 Discharge of Indenture; Defeasance
	  	90
		
	 SECTION 8.1. Discharge of Liability on Securities; Defeasance
	  	90
	 SECTION 8.2. Conditions to Defeasance
	  	91
	 SECTION 8.3. Application of Trust Money
	  	93
	 SECTION 8.4. Repayment to Company
	  	93
	 SECTION 8.5. Indemnity for U.S. Government Obligations
	  	93
	 SECTION 8.6. Reinstatement
	  	93
	
	ARTICLE IX
	 Amendments
	  	93
		
	 SECTION 9.1. Without Consent of Holders
	  	93
	 SECTION 9.2. With Consent of Holders
	  	94
	 SECTION 9.3. Compliance with Trust Indenture Act
	  	95
	 SECTION 9.4. Revocation and Effect of Consents and Waivers
	  	95
	 SECTION 9.5. Notation on or Exchange of Securities
	  	96
	 SECTION 9.6. Trustee To Sign Amendments
	  	96
	
	ARTICLE X
	 Subsidiary Guarantee
	  	96
		
	 SECTION 10.1. Subsidiary Guarantee
	  	96
	 SECTION 10.2. Limitation on Liability; Termination, Release and Discharge
	  	98
	 SECTION 10.3. Limitation of Subsidiary Guarantors’ Liability
	  	99
	 SECTION 10.4. Contribution
	  	99
	
	ARTICLE XI
	 Miscellaneous
	  	99
		
	 SECTION 11.1. Trust Indenture Act Controls
	  	99
	 SECTION 11.2. Notices
	  	100
	 SECTION 11.3. Communication by Holders with other Holders
	  	100
	 SECTION 11.4. Certificate and Opinion as to Conditions Precedent
	  	100
	 SECTION 11.5. Statements Required in Certificate or Opinion
	  	101
	 SECTION 11.6. When Securities Disregarded
	  	101
	 SECTION 11.7. Rules by Trustee, Paying Agent and Registrar
	  	101
	 SECTION 11.8. Legal Holidays
	  	101

  

 iii 

			
	 SECTION 11.9. GOVERNING LAW
	  	102
	 SECTION 11.10. No Recourse Against Others
	  	102
	 SECTION 11.11. Successors
	  	102
	 SECTION 11.12. Multiple Originals
	  	102
	 SECTION 11.13. Qualification of Indenture
	  	102
	 SECTION 11.14. Severability
	  	102
	 SECTION 11.15. Table of Contents; Headings
	  	102

  

			
	 EXHIBIT A
	  	Form of the Unregistered Note
	 EXHIBIT B
	  	Form of the Registered Note
	 EXHIBIT C
	  	Form of Certificate to be Delivered in Connection with Transfers to Institutional Accredited Investors
	 EXHIBIT D
	  	Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S
	 EXHIBIT E
	  	Form of Subsidiary Guarantee

  

			
	 SCHEDULE 3.9
	  	Existing Affiliate Transactions

  

 iv 

 CROSS-REFERENCE TABLE 
  

			
	 TIA Section

	  	 Indenture Section

	 310(a)(1)
	  	          7.10
	       (a)(2)
	  	          7.10
	       (a)(3)
	  	        N.A.
	       (a)(4)
	  	        N.A.
	       (b)
	  	          7.8; 7.10
	       (c)
	  	        N.A.
	 311(a)
	  	          7.11
	       (b)
	  	          7.11
	       (c)
	  	        N.A.
	 312(a)
	  	          2.5
	       (b)
	  	        11.3
	       (c)
	  	        11.3
	 313(a)
	  	          7.6
	       (b)(1)
	  	        N.A.
	       (b)(2)
	  	          7.6
	       (c)
	  	          7.6; 11.2
	       (d)
	  	          7.6
	 314(a)
	  	          3.2; 3.18; 11.2
	       (b)
	  	        N.A.
	       (c)(1)
	  	        11.4
	       (c)(2)
	  	        11.4
	       (c)(3)
	  	        N.A.
	       (d)
	  	        N.A.
	       (e)
	  	        11.5
	 315(a)
	  	          7.1
	       (b)
	  	          7.5; 11.2
	       (c)
	  	          7.1
	       (d)
	  	          7.1
	       (e)
	  	          6.11
	 316(a)(last sentence)
	  	        11.6
	       (a)(1)(A)
	  	          6.5
	       (a)(1)(B)
	  	          6.4
	       (a)(2)
	  	        N.A.
	       (b)
	  	          6.7
	 317(a)(1)
	  	          6.8
	       (a)(2)
	  	          6.9
	       (b)
	  	          2.4
	 318(a)
	  	        11.1

  
 N.A. means Not
Applicable. 
  
 Note: This Cross-Reference Table shall not, for any purpose, be
deemed to be part of this Indenture. 
  

  
 INDENTURE dated as of March
15, 2005, among DELTA PETROLEUM CORPORATION, a Colorado corporation (the “Company”), the SUBSIDIARY GUARANTORS (as herein defined) party hereto and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized under the
laws of the United States, as Trustee (the “Trustee”). 
  
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of (i) the Company’s 7% Senior Notes due 2015, issued on the date hereof (the “Initial
Securities”), (ii) if and when issued, an unlimited principal amount of additional 7% Senior Notes due 2015 in a non-registered offering or 7% Senior Notes due 2015 in a registered offering of the Company that may be offered from time to
time subsequent to the Issue Date (the “Additional Securities”) and (iii) if and when issued, the Company’s 7% Senior Notes due 2015 that may be issued from time to time in exchange for Initial Securities or any Additional
Securities in an offer registered under the Securities Act as provided in the Registration Rights Agreement (as hereinafter defined the “Exchange Securities,” and together with the Initial Securities and Additional Securities, the
“Securities”). 
  
 ARTICLE I 
  
 Definitions and Incorporation by Reference 
  
 SECTION 1.1. Definitions. 
  
 “Acquired Indebtedness” means Indebtedness (i) of a Person
or any of its Subsidiaries existing at the time such Person becomes a Restricted Subsidiary or (ii) assumed in connection with the acquisition of assets from such Person, in each case whether or not Incurred by such Person in connection with, or in
anticipation or contemplation of, such Person becoming a Restricted Subsidiary or such acquisition. Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause (i) of the preceding sentence, on the date such Person becomes a
Restricted Subsidiary and, with respect to clause (ii) of the preceding sentence, on the date of consummation of such acquisition of assets. 
  
 “Additional Assets” means: 
  

	 	(1)	any property or assets (other than Indebtedness and Capital Stock) to be used by the Company or a Restricted Subsidiary in the Oil and Gas Business; 

  

	 	(2)	capital expenditures by the Company or a Restricted Subsidiary in the Oil and Gas Business; 

  

	 	(3)	the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or a Restricted Subsidiary; or

  

	 	(4)	Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary; 

  

 provided, however, that, in the case of clauses (3) and (4), such Restricted Subsidiary is primarily engaged in
the Oil and Gas Business. 
  
 “Adjusted Consolidated Net
Tangible Assets” means (without duplication), as of the date of determination, the remainder of: 
  

	 	(1)	the sum of: 

  

	 	(a)	discounted future net revenues from proved oil and gas reserves of the Company and its Restricted Subsidiaries calculated in accordance with Commission guidelines before any
provincial, territorial, state, Federal or foreign income taxes, as estimated by the Company in a reserve report prepared as of the end of the Company’s most recently completed fiscal year for which audited financial statements are available,
as increased by, as of the date of determination, the estimated discounted future net revenues from 

  

	 	(i)	estimated proved oil and gas reserves acquired since such year end, which reserves were not reflected in such year end reserve report, and 

  

	 	(ii)	estimated oil and gas reserves attributable to upward revisions of estimates of proved oil and gas reserves since such year end due to exploration, development or exploitation
activities, in each case calculated in accordance with Commission guidelines (utilizing the prices for the fiscal quarter ending prior to the date of determination), 

  
 and decreased by, as of the date of determination, the estimated discounted future net revenues from 
  

	 	(iii)	estimated proved oil and gas reserves produced or disposed of since such year end, and 

  

	 	(iv)	estimated oil and gas reserves attributable to downward revisions of estimates of proved oil and gas reserves since such year end due to changes in geological conditions or other
factors which would, in accordance with standard industry practice, cause such revisions, in each case calculated on a pre-tax basis and substantially in accordance with Commission guidelines (utilizing the prices for the fiscal quarter ending prior
to the date of determination), in each case as estimated by the Company’s petroleum engineers or any independent petroleum engineers engaged by the Company for that purpose; 

  

	 	(b)	the capitalized costs that are attributable to oil and gas properties of the Company and its Restricted Subsidiaries to which no proved oil and gas reserves are attributable, based
on the Company’s books and records as of a date no earlier than the date of the Company’s latest available annual or quarterly financial statements; 

  

	 	(c)	the Net Working Capital on a date no earlier than the date of the Company’s latest annual or quarterly financial statements; and 

  

	 	(d)	the greater of 

  

	 	(i)	the net book value of other tangible assets of the Company and its Restricted Subsidiaries, as of a date no earlier than the date of the Company’s latest annual or quarterly
financial statement, and 

  

	 	(ii)	the appraised value, as estimated by independent appraisers, of other tangible assets of the Company and its Restricted Subsidiaries, as of a date no earlier than the date of the
Company’s latest audited financial statements; minus 

  

	 	(2)	the sum of: 

  

	 	(a)	Minority Interests; 

  

	 	(b)	any net gas balancing liabilities of the Company and its Restricted Subsidiaries reflected in the Company’s latest audited financial statements; 

  

	 	(c)	to the extent included in (1)(a) above, the discounted future net revenues, calculated in accordance with Commission guidelines (utilizing the prices utilized in the Company’s
year end reserve report), attributable to reserves which are required to be delivered to third parties to fully satisfy the obligations of the Company and its Restricted Subsidiaries with respect to Volumetric Production Payments (determined, if
applicable, using the schedules specified with respect thereto); and 

  

	 	(d)	the discounted future net revenues, calculated in accordance with Commission guidelines, attributable to reserves subject to Dollar-Denominated Production Payments which, based on
the estimates of production and price assumptions included in determining the discounted future net revenues specified in (1)(a) above, would be necessary to fully satisfy the payment obligations of the Company and its Subsidiaries with respect to
Dollar-Denominated Production Payments (determined, if applicable, using the schedules specified with respect thereto). 

  

 If the Company changes its method of accounting from the successful efforts method of accounting to the full cost or a
similar method, “Adjusted Consolidated Net Tangible Assets” will continue to be calculated as if the Company were still using the successful efforts method of accounting. 
  
 “Additional Securities” has the meaning ascribed to it in the second introductory paragraph of this
Indenture. 
  
 “Affiliate” of any specified
Person means any other Person, directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person
means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have
meanings correlative to the foregoing; provided that the beneficial ownership of 10% or more of the Voting Stock of a Person shall be deemed to be control. 
  
 “Applicable Premium” means, with respect to any Security on any applicable Redemption Date, the greater of:

  

	 	(1)	1.0% of the then outstanding principal amount of such Security; and 

  

	 	(2)	the excess of: 

  

	 	(a)	the present value at such Redemption Date of (i) the redemption price of such note at April 1, 2010 (such redemption price being set forth in the table appearing above under the
caption “Optional redemption”) plus (ii) all required interest payments due on such Note through April 1, 2010, computed using a discount rate equal to the Treasury Rate plus 50 basis points over 

  

	 	(b)	the then outstanding principal amount of such Security. 

  
 “Asset Disposition” means any direct or indirect sale, lease (other than an operating lease entered into in the ordinary course of the
Oil and Gas Business), transfer, issuance or other disposition, or a series of related sales, leases, transfers, issuances or dispositions that are part of a common plan, of (i) shares of Capital Stock of a Subsidiary (other than directors’
qualifying shares) and (ii) property or other assets (each referred to for the purposes of this definition as a “disposition”) by the Company or any of its Restricted Subsidiaries, including any disposition by means of a merger,
consolidation or similar transaction. 
  
 Notwithstanding the
preceding, the following items shall not be deemed to be Asset Dispositions: 
  

	 	(1)	a disposition by a Restricted Subsidiary to the Company or by the Company or a Restricted Subsidiary to a Wholly-Owned Subsidiary; 

  

	 	(2)	the sale of Cash Equivalents in the ordinary course of business; 

  

	 	(3)	a disposition of Hydrocarbons or mineral products inventory in the ordinary course of the Oil and Gas Business; 

  

	 	(4)	a disposition of obsolete or worn out equipment or equipment that is no longer useful in the conduct of the business of the Company and its Restricted Subsidiaries and that is
disposed of in each case in the ordinary course of business; 

  

	 	(5)	transactions permitted under Section 4.1; 

  

	 	(6)	an issuance of Capital Stock by a Restricted Subsidiary to the Company or to a Wholly-Owned Subsidiary; 

  

	 	(7)	for purposes of Section 3.8 only, the making of a Permitted Investment or a disposition subject to Section 3.4; 

  

	 	(8)	an Asset Swap effected in compliance with Section 3.8; 

  

	 	(9)	dispositions of assets with an aggregate fair market value since the Issue Date of less than $1.0 million; 

  

	 	(10)	dispositions in connection with Permitted Liens; 

  

	 	(11)	dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and
exclusive of factoring or similar arrangements; 

  

	 	(12)	the licensing or sublicensing of intellectual property or other general intangibles and licenses, leases or subleases of other property in the ordinary course of business which do
not materially interfere with the business of the Company and its Restricted Subsidiaries; 

  

	 	(13)	foreclosure on assets; 

  

	 	(14)	any Production Payments and Reserve Sales, provided that any such Production Payments and Reserve Sales, other than incentive compensation programs on terms that are reasonably
customary in the Oil and Gas Business for geologists, geophysicists and other providers of technical services to the Company or a Restricted Subsidiary, shall have been created, Incurred, issued, assumed or Guaranteed in connection with the
financing of, and within 60 days after the acquisition of, the property that is subject thereto; and 

  

	 	(15)	 the exchange by the Company of its membership interests in Big Dog or Shark for a similar proportion of the capital stock of a successor 

  

	 	 
corporation to Big Dog or Shark, as the case may be, in any recapitalization transaction. 

  
 “Asset Swap” means the concurrent purchase and sale or
exchange of Oil and Gas Properties between the Company or any of its Restricted Subsidiaries and another Person; provided that any cash received must be applied in accordance with Section 3.8. 
  
 “Attributable Indebtedness” in respect of a Sale/Leaseback
Transaction means, as at the time of determination, the present value (discounted at the interest rate borne by the Securities, compounded semi-annually) of the total obligations of the lessee for rental payments during the remaining term of the
lease included in such Sale/Leaseback Transaction (including any period for which such lease has been extended). 
  
 “Average Life” means, as of the date of determination, with respect to any Indebtedness or Preferred Stock, the quotient obtained by
dividing (1) the sum of the products of the numbers of years from the date of determination to the dates of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Preferred Stock
multiplied by the amount of such payment by (2) the sum of all such payments. 
  
 “Bankruptcy Law” means Title 11, United States Code or any similar Federal or state law for the relief of debtors. 
  
 “Big Dog” means Big Dog Drilling Co., LLC, a Nevada limited liability company. 
  
 “Board of Directors” means, as to any Person, the board of
directors of such Person or any duly authorized committee thereof. 
  
 “Business Day” means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York are authorized or required by law to close. 
  
 “Capital Stock” of any Person means any and all shares,
interests, rights to purchase, warrants, options, participation or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity.

  
 “Capitalized Lease Obligations” means an
obligation that is required to be classified and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation will be the capitalized amount of such
obligation at the time any determination thereof is to be made as determined in accordance with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such
lease may be terminated without penalty. 
  
 “Cash
Equivalents” means: 
  

	 	(1)	 securities issued or directly and fully guaranteed or insured by the United States Government or any agency or instrumentality of the United States 

  

	 	 
(provided that the full faith and credit of the United States is pledged in support thereof), having maturities of not more than one year from the
date of acquisition; 

  

	 	(2)	marketable general obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof maturing
within one year from the date of acquisition (provided that the full faith and credit of the United States is pledged in support thereof) and, at the time of acquisition, having a credit rating of “A” or better from either Standard
& Poor’s Ratings Services or Moody’s Investors Service, Inc.; 

  

	 	(3)	certificates of deposit, time deposits, eurodollar time deposits, overnight bank deposits or bankers’ acceptances having maturities of not more than one year from the date of
acquisition thereof issued by any commercial bank the long-term debt of which is rated at the time of acquisition thereof at least “A” or the equivalent thereof by Standard & Poor’s Ratings Services, or “A” or the
equivalent thereof by Moody’s Investors Service, Inc., and having combined capital and surplus in excess of $500.0 million; 

  

	 	(4)	repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses (1), (2) and (3) entered into with any bank meeting the
qualifications specified in clause (3) above; 

  

	 	(5)	commercial paper rated at the time of acquisition thereof at least “A-2” or the equivalent thereof by Standard & Poor’s Ratings Services or “P-2” or the
equivalent thereof by Moody’s Investors Service, Inc., or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of investments, and in any case maturing within
one year after the date of acquisition thereof; and 

  

	 	(6)	interests in any investment company or money market fund which invests 95% or more of its assets in instruments of the type specified in clauses (1) through (5) above.

  
 “Change of Control” means:

  

	 	(1)	 (A) any “person” or “group” of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), is or becomes the
beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person or group shall be deemed to have “beneficial ownership” of all shares that any such person or group has the right to acquire, whether
such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Company (or its successor by merger, consolidation or purchase of all or
substantially all of its assets) 

  

	 	 
(for the purposes of this clause, such person or group shall be deemed to beneficially own any Voting Stock of the Company held by a parent entity, if such
person or group “beneficially owns” (as defined above), directly or indirectly, more than 50% of the voting power of the Voting Stock of such parent entity); or 

  

	 	(2)	the first day on which a majority of the members of the Board of Directors of the Company are not Continuing Directors; or 

  

	 	(3)	the sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of
the assets of the Company and its Restricted Subsidiaries taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act); or 

  

	 	(4)	the adoption by the stockholders of the Company of a plan or proposal for the liquidation or dissolution of the Company. 

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

  
 “Commodity Agreements” means, in respect of
any Person, any forward contract, commodity swap agreement, commodity option agreement or other similar agreement or arrangement in respect of Hydrocarbons used, produced, processed or sold by such Person that are customary in the Oil and Gas
Business and designed to protect such Person against fluctuation in Hydrocarbon prices. 
  
 “Common Stock” means with respect to any Person, any and all shares, interest or other participations in, and other equivalents (however designated and whether voting or nonvoting) of such
Person’s common stock whether or not outstanding on the Issue Date, and includes, without limitation, all series and classes of such common stock. 
  
 “Consolidated Coverage Ratio” means as of any date of determination, with respect to any Person, the ratio of (x) the aggregate amount of
Consolidated EBITDAX of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which financial statements are in existence to (y) Consolidated Interest Expense for such four
fiscal quarters, provided, however, that: 
  

	 	(1)	if the Company or any Restricted Subsidiary: 

  

	 	(a)	 has Incurred any Indebtedness since the beginning of such period that remains outstanding on such date of determination or if the transaction giving rise to the
need to calculate the Consolidated Coverage Ratio is an Incurrence of Indebtedness, Consolidated EBITDAX and Consolidated Interest Expense for such period will be calculated after giving effect on a pro forma basis to such Indebtedness as if such
Indebtedness had been Incurred on the first day of such period (except that in making such computation, the amount of Indebtedness under any revolving credit facility 

  

	 	 
outstanding on the date of such calculation will be deemed to be (i) the average daily balance of such Indebtedness during such four fiscal quarters or such
shorter period for which such facility was outstanding or (ii) if such facility was created after the end of such four fiscal quarters, the average daily balance of such Indebtedness during the period from the date of creation of such facility to
the date of such calculation) and the discharge of any other Indebtedness repaid, repurchased, defeased or otherwise discharged with the proceeds of such new Indebtedness as if such discharge had occurred on the first day of such period; or

  

	 	(b)	has repaid, repurchased, defeased or otherwise discharged any Indebtedness since the beginning of the period that is no longer outstanding on such date of determination or if the
transaction giving rise to the need to calculate the Consolidated Coverage Ratio involves a discharge of Indebtedness (in each case other than Indebtedness Incurred under any revolving credit facility unless such Indebtedness has been permanently
repaid and the related commitment terminated), Consolidated EBITDAX and Consolidated Interest Expense for such period will be calculated after giving effect on a pro forma basis to such discharge of such Indebtedness, including with the proceeds of
such new Indebtedness, as if such discharge had occurred on the first day of such period; 

  

	 	(2)	if since the beginning of such period the Company or any Restricted Subsidiary will have made any Asset Disposition or disposed of any company, division, operating unit, segment,
business, group of related assets or line of business or if the transaction giving rise to the need to calculate the Consolidated Coverage Ratio is such an Asset Disposition: 

  

	 	(a)	the Consolidated EBITDAX for such period will be reduced by an amount equal to the Consolidated EBITDAX (if positive) directly attributable to the assets which are the subject of
such Asset Disposition for such period or increased by an amount equal to the Consolidated EBITDAX (if negative) directly attributable thereto for such period; and 

  

	 	(b)	 Consolidated Interest Expense for such period will be reduced by an amount equal to the Consolidated Interest Expense directly attributable to any Indebtedness of
the Company or any Restricted Subsidiary repaid, repurchased, defeased or otherwise discharged with respect to the Company and its continuing Restricted Subsidiaries in connection with such Asset Disposition for such period (or, if the Capital Stock
of any Restricted Subsidiary is sold, the Consolidated Interest Expense for such period directly attributable to the Indebtedness of such Restricted Subsidiary to 

  

	 	 
the extent the Company and its continuing Restricted Subsidiaries are no longer liable for such Indebtedness after such sale); 

 

	 	(3)	if since the beginning of such period the Company or any Restricted Subsidiary (by merger or otherwise) will have made an Investment in any Restricted Subsidiary (or any Person
which becomes a Restricted Subsidiary or is merged with or into the Company) or an acquisition of assets, including any acquisition of assets occurring in connection with a transaction causing a calculation to be made hereunder, which constitutes
all or substantially all of a company, division, operating unit, segment, business, group of related assets or line of business, Consolidated EBITDAX and Consolidated Interest Expense for such period will be calculated after giving pro forma effect
thereto (including the Incurrence of any Indebtedness) as if such Investment or acquisition had occurred on the first day of such period; and 

  

	 	(4)	if since the beginning of such period any Person (that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the
beginning of such period) will have Incurred any Indebtedness or discharged any Indebtedness, made any Asset Disposition or any Investment or acquisition of assets that would have required an adjustment pursuant to clause (2) or (3) above if made by
the Company or a Restricted Subsidiary during such period, Consolidated EBITDAX and Consolidated Interest Expense for such period will be calculated after giving pro forma effect thereto as if such Asset Disposition or Investment or acquisition of
assets had occurred on the first day of such period. 

  
 For
purposes of this definition, whenever pro forma effect is to be given to any calculation under this definition, the pro forma calculations will be determined in good faith by a responsible financial or accounting officer of the Company (including
pro forma expense and cost reductions calculated on a basis consistent with Regulation S-X under the Securities Act). 
  
 If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest expense on such Indebtedness will be calculated as if the rate in
effect on the date of determination had been the applicable rate for the entire period (taking into account any Interest Rate Agreement applicable to such Indebtedness if such Interest Rate Agreement has a remaining term in excess of 12 months). If
any Indebtedness that is being given pro forma effect bears an interest rate at the option of the Company, the interest rate shall be calculated by applying such optional rate chosen by the Company. 
  
 “Consolidated EBITDAX” for any period means, without
duplication, the Consolidated Net Income for such period, plus the following to the extent deducted in calculating such Consolidated Net Income: 
  

	 	(1)	Consolidated Interest Expense; 

  

	 	(2)	Consolidated Income Taxes; 

  

	 	(3)	consolidated depreciation expense; 

  

	 	(4)	consolidated amortization expense or impairment charges recorded in connection with the application of Statement of Financial Accounting Standard No. 142 “Goodwill and Other
Intangibles”; 

  

	 	(5)	other non-cash charges reducing Consolidated Net Income (excluding any such non-cash charge to the extent it represents an accrual of or reserve for cash charges in any future
period or amortization of a prepaid cash expense that was paid in a prior period not included in the calculation); and 

  

	 	(6)	exploration expenses, if applicable; and 

  
 less, to the extent included in calculating such Consolidated Net Income and in excess of any costs or expenses attributable thereto that were deducted in calculating
such Consolidated Net Income, the sum of (x) the amount of deferred revenues that are amortized during such period and are attributable to reserves that are subject to Volumetric Production Payments, and (y) amounts recorded in accordance with GAAP
as repayments of principal and interest pursuant to Dollar-Denominated Production Payments. Notwithstanding the preceding sentence, clauses (2) through (6) relating to amounts of a Restricted Subsidiary of a Person will be added to Consolidated Net
Income to compute Consolidated EBITDAX of such Person only to the extent (and in the same proportion) that the net income (loss) of such Restricted Subsidiary was included in calculating the Consolidated Net Income of such Person and, to the extent
the amounts set forth in clauses (2) through (6) are in excess of those necessary to offset a net loss of such Restricted Subsidiary or if such Restricted Subsidiary has net income for such period included in Consolidated Net Income, only if a
corresponding amount would be permitted at the date of determination to be dividended to the Company by such Restricted Subsidiary without prior approval (that has not been obtained), pursuant to the terms of its charter and all agreements,
instruments, judgments, decrees, orders, statutes, rules and governmental regulations applicable to that Restricted Subsidiary or its stockholders. 
  
 “Consolidated Income Taxes” means, with respect to any Person for any period, taxes imposed upon such Person or other payments required
to be made by such Person by any governmental authority which taxes or other payments are calculated by reference to the income or profits of such Person or such Person and its Restricted Subsidiaries (to the extent such income or profits were
included in computing Consolidated Net Income for such period), regardless of whether such taxes or payments are required to be remitted to any governmental authority. 
  
 “Consolidated Interest Expense” means, for any period, the total interest expense of the Company and its
consolidated Restricted Subsidiaries, whether paid or accrued, plus, to the extent not included in such interest expense: 
  

	 	(1)	 interest expense attributable to Capitalized Lease Obligations and the interest portion of rent expense associated with Attributable Indebtedness 

  

	 	 
in respect of the relevant lease giving rise thereto, determined as if such lease were a capitalized lease in accordance with GAAP and the interest component
of any deferred payment obligations; 

  

	 	(2)	amortization of debt discount and debt issuance cost (provided that any amortization of bond premium will be credited to reduce Consolidated Interest Expense unless, pursuant
to GAAP, such amortization of bond premium has otherwise reduced Consolidated Interest Expense); 

  

	 	(3)	non-cash interest expense; 

  

	 	(4)	commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing; 

  

	 	(5)	the interest expense on Indebtedness of another Person that is Guaranteed by such Person or one of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one
of its Restricted Subsidiaries; 

  

	 	(6)	costs associated with Hedging Obligations (including amortization of fees) provided, however, that if Hedging Obligations result in net benefits rather than costs, such
benefits shall be credited to reduce Consolidated Interest Expense unless, pursuant to GAAP, such net benefits are otherwise reflected in Consolidated Net Income; 

  

	 	(7)	the consolidated interest expense of such Person and its Restricted Subsidiaries that was capitalized during such period; 

  

	 	(8)	the product of (a) all dividends paid or payable in cash, Cash Equivalents or Indebtedness or accrued during such period on any series of Disqualified Stock of such Person or on
Preferred Stock of its Restricted Subsidiaries payable to a party other than the Company or a Wholly-Owned Subsidiary, times (b) a fraction, the numerator of which is one and the denominator of which is one minus the then current combined Federal,
state, provincial and local statutory tax rate of such Person, expressed as a decimal, in each case, on a consolidated basis and in accordance with GAAP; 

  

	 	(9)	Receivables Fees; and 

  

	 	(10)	the cash contributions to any employee stock ownership plan or similar trust to the extent such contributions are used by such plan or trust to pay interest or fees to any Person
(other than the Company) in connection with Indebtedness Incurred by such plan or trust. 

  
 For the purpose of calculating the Consolidated Coverage Ratio in connection with the Incurrence of any Indebtedness described in the final paragraph of
the definition of “Indebtedness”, the calculation of Consolidated Interest Expense shall include all interest expense (including any amounts described in clauses (1) through (10) above) relating to any 

  

 
Indebtedness of the Company or any Restricted Subsidiary described in the final paragraph of the definition of “Indebtedness”. 
  
 For purposes of the foregoing, total interest expense will be determined (i)
after giving effect to any net payments made or received by the Company and its Subsidiaries with respect to Interest Rate Agreements and (ii) exclusive of amounts classified as other comprehensive income on the balance sheet of the Company.
Notwithstanding anything to the contrary contained herein, commissions, discounts, yield and other fees and charges Incurred in connection with any transaction pursuant to which the Company or its Restricted Subsidiaries may sell, convey or
otherwise transfer or grant a security interest in any accounts receivable or related assets shall be included in Consolidated Interest Expense. 
  
 “Consolidated Net Income” means, for any period, the net income (loss) of the Company and its consolidated Restricted Subsidiaries
determined in accordance with GAAP; provided, however, that there will not be included in such Consolidated Net Income: 
  

	 	(1)	any net income (loss) of any Person if such Person is not a Restricted Subsidiary, except that: 

  

	 	(a)	subject to the limitations contained in clauses (3), (4) and (5) below, the Company’s equity in the net income of any such Person for such period will be included in such
Consolidated Net Income up to the aggregate amount of cash actually distributed by such Person during such period to the Company or a Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend or other distribution
to a Restricted Subsidiary, to the limitations contained in clause (2) below); and 

  

	 	(b)	the Company’s equity in a net loss of any such Person (other than an Unrestricted Subsidiary) for such period will be included in determining such Consolidated Net Income to
the extent such loss has been funded with cash from the Company or a Restricted Subsidiary; 

  

	 	(2)	any net income (but not loss) of any Restricted Subsidiary if such Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making of
distributions by such Restricted Subsidiary, directly or indirectly, to the Company, except that: 

  

	 	(a)	subject to the limitations contained in clauses (3), (4) and (5) below, the Company’s equity in the net income of any such Restricted Subsidiary for such period will be
included in such Consolidated Net Income up to the aggregate amount of cash that could have been distributed by such Restricted Subsidiary during such period to the Company or another Restricted Subsidiary as a dividend (subject, in the case of a
dividend to another Restricted Subsidiary, to the limitation contained in this clause); and 

  

	 	(b)	the Company’s equity in a net loss of any such Restricted Subsidiary for such period will be included in determining such Consolidated Net Income; 

  

	 	(3)	any gain (loss) realized upon the sale or other disposition of any property, plant or equipment of the Company or its consolidated Restricted Subsidiaries (including pursuant to any
Sale/Leaseback Transaction) which is not sold or otherwise disposed of in the ordinary course of business and any gain (loss) realized upon the sale or other disposition of any Capital Stock of any Person; 

  

	 	(4)	any extraordinary gain or loss; 

  

	 	(5)	the cumulative effect of a change in accounting principles; 

  

	 	(6)	any asset impairment writedowns on Oil and Gas Properties under GAAP or Commission guidelines; and 

  

	 	(7)	any unrealized non-cash gains or losses on charges in respect of Hedging Obligations (including those resulting from the application of Statement of Financial Accounting Standards
133). 

  
 “Continuing Directors”
means, as of any date of determination, any member of the Board of Directors of the Company who: 
  

	 	(1)	was a member of such Board of Directors on the date of this Indenture; or 

  

	 	(2)	was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board at the time of such
nomination or election. 

  
 “Credit
Facility” means, with respect to the Company or any Subsidiary Guarantor, one or more debt facilities (including, without limitation, the Senior Secured Credit Agreement) or commercial paper facilities with banks or other institutional
lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of
credit, in each case, as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to time (and whether or not with the original administrative agent and lenders or another administrative agent or agents or
other lenders and whether provided under the original Senior Secured Credit Agreement or any other credit or other agreement or indenture). 
  
 “Currency Agreement” means in respect of a Person any foreign exchange contract, currency swap agreement, futures contract, option
contract or other similar agreement as to which such Person is a party or a beneficiary. 
  
 “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
  

 “Default” means any event which is, or after notice or passage of time or both would be,
an Event of Default. 
  
 “Definitive Security”
means a certificated Security registered in the name of the Holder thereof and issued in accordance with Section 2.1 hereof, in the form of Exhibit A hereto except that such Security shall not bear the Global Security legend specified
in Section 2.1 (d)(C). 
  
 “Disqualified
Stock” means, with respect to any Person, any Capital Stock of such Person which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event: 
  

	 	(1)	matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise; 

  

	 	(2)	is convertible or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock which is convertible or exchangeable solely at the option of the Company or a
Restricted Subsidiary); or 

  

	 	(3)	is redeemable at the option of the holder of the Capital Stock, in whole or in part, 

  
 in each case on or prior to the date that is 91 days after the earlier of the date (a) of the Stated Maturity of the Securities or (b) on
which there are no Securities outstanding; provided that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such
date will be deemed to be Disqualified Stock; provided, further, that any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to require the Company to repurchase such Capital Stock upon
the occurrence of a change of control or asset sale (each defined in a substantially identical manner to the corresponding definitions in this Indenture) shall not constitute Disqualified Stock if the terms of such Capital Stock (and all such
securities into which it is convertible or for which it is ratable or exchangeable) provide that the Company may not repurchase or redeem any such Capital Stock (and all such securities into which it is convertible or for which it is ratable or
exchangeable) pursuant to such provision prior to compliance by the Company with the provisions of this Indenture described under Section 3.10 and Section 3.8 and such repurchase or redemption complies with Section 3.4.

  
 “Dollar-Denominated Production Payments”
means production payment obligations recorded as liabilities in accordance with GAAP, together with all undertakings and obligations in connection therewith. 
  
 “DTC” means The Depository Trust Company, its nominees and their respective successors and assigns, or such other depository institution
hereinafter appointed by the Company. 
  
 “Equity
Offering” means (i) a public offering for cash by the Company of its Common Stock, or options, warrants or rights with respect to its Common Stock made pursuant to a registration statement that has been declared effective by the Commission,
other than public 

  

 
offerings with respect to the Company’s Common Stock, or options, warrants or rights, registered on Form S-4 or S-8 or (ii) a private offering to
institutional investors for cash by the Company of its Common Stock, or options, warrants or rights with respect to its Common Stock. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 “Foreign Subsidiary” means any Restricted Subsidiary that is not organized under the laws of the United
States of America or any state thereof or the District of Columbia. 
  
 “GAAP” means generally accepted accounting principles in the United States of America as in effect as of the date of this Indenture, including those set forth in the opinions and pronouncements of the Accounting Principles
Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as approved by a significant segment of the accounting
profession. All ratios and computations based on GAAP contained in this Indenture will be computed in conformity with GAAP. 
  
 “Guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness of any
other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 
  

	 	(1)	to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by
agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise); or 

  

	 	(2)	entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in
whole or in part); 

  
 provided, however, that the term
“Guarantee” will not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee” used as a verb has a corresponding meaning. 
  
 “Guarantor Subordinated Obligation” means, with respect to a
Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its
Subsidiary Guarantee pursuant to a written agreement. 
  
 “Hedging Obligations” of any Person means the obligations of such Person pursuant to any Interest Rate Agreement, Currency Agreement or Commodity Agreement. 
  
 “Holder” or “Securityholder” means the Person in whose name a Security is registered in
the Note Register. 
  

 “Hydrocarbons” means oil, gas, casinghead gas, drip gasoline, natural gasoline,
condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all constituents, elements or compounds thereof and products refined or processed therefrom. 
  
 “Incur” means issue, create, assume, Guarantee, incur or otherwise become liable for; provided, however,
that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) will be deemed to be incurred by such Restricted Subsidiary at the
time it becomes a Restricted Subsidiary; and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing. 
  
 “Indebtedness” means, with respect to any Person on any date of determination (without duplication): 
  

	 	(1)	the principal of and premium (if any) in respect of indebtedness of such Person for borrowed money; 

  

	 	(2)	the principal of and premium (if any) in respect of obligations of such Person evidenced by bonds, debentures, notes or other similar instruments; 

  

	 	(3)	the principal component of all obligations of such Person in respect of letters of credit, bankers’ acceptances or other similar instruments (including reimbursement
obligations with respect thereto except to the extent such reimbursement obligation relates to a trade payable and such obligation is satisfied within 30 days of Incurrence); 

  

	 	(4)	the principal component of all obligations of such Person to pay the deferred and unpaid purchase price of property (except trade payables), which purchase price is due more than
six months after the date of placing such property in service or taking delivery and title thereto; 

  

	 	(5)	Capitalized Lease Obligations and all Attributable Indebtedness of such Person; 

  

	 	(6)	the principal component or liquidation preference of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with
respect to any Subsidiary that is not a Subsidiary Guarantor, any Preferred Stock (but excluding, in each case, any accrued dividends); 

  

	 	(7)	the principal component of all Indebtedness of other Persons secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person; provided,
however, that the amount of such Indebtedness will be the lesser of (a) the fair market value of such asset at such date of determination and (b) the amount of such Indebtedness of such other Persons; 

  

	 	(8)	the principal component of Indebtedness of other Persons to the extent Guaranteed by such Person; and 

  

	 	(9)	to the extent not otherwise included in this definition, net obligations of such Person under Commodity Agreements, Currency Agreements and Interest Rate Agreements (the amount of
any such obligations to be equal at any time to the termination value of such agreement or arrangement giving rise to such obligation that would be payable by such Person at such time). 

  
 The amount of Indebtedness of any Person at any date will be the outstanding balance at such
date of all unconditional obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at such date. 
  
 In addition, “Indebtedness” of any Person shall include
Indebtedness described in the preceding paragraph that would not appear as a liability on the balance sheet of such Person if: 
  

	 	(1)	such Indebtedness is the obligation of a partnership or joint venture that is not a Restricted Subsidiary (a “Joint Venture”); 

  

	 	(2)	such Person or a Restricted Subsidiary of such Person is a general partner of the Joint Venture (a “General Partner”); and 

  

	 	(3)	there is recourse, by contract or operation of law, with respect to the payment of such Indebtedness to property or assets of such Person or a Restricted Subsidiary of such Person;
and then such Indebtedness shall be included in an amount not to exceed: 

  

	 	(a)	the lesser of (i) the net assets of the General Partner and (ii) the amount of such obligations to the extent that there is recourse, by contract or operation of law, to the
property or assets of such Person or a Restricted Subsidiary of such Person; or 

  

	 	(b)	if less than the amount determined pursuant to clause (a) immediately above, the actual amount of such Indebtedness that is recourse to such Person or a Restricted Subsidiary of
such Person, if the Indebtedness is evidenced by a writing and is for a determinable amount. 

  
 “Indenture” means this Indenture as amended or supplemented from time to time. 
  
 “Initial Securities” has the meaning ascribed to it in the
second introductory paragraph of this Indenture. 
  
 “Interest Rate Agreement” means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate 

  

 
swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to
which such Person is party or a beneficiary. 
  
 “Investment” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of any direct or indirect advance, loan (other than advances or extensions of credit to
customers in the ordinary course of business) or other extensions of credit (including by way of Guarantee or similar arrangement, but excluding any debt or extension of credit represented by a bank deposit other than a time deposit) or capital
contribution to (by means of any transfer of cash or other property to others or any payment for property or services for the account or use of others), or any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments
issued by, such Person and all other items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP; provided that: 
  

	 	(1)	Hedging Obligations entered into in the ordinary course of business and in compliance with this Indenture; 

  

	 	(2)	endorsements of negotiable instruments and documents in the ordinary course of business; and 

  

	 	(3)	an acquisition of assets, Capital Stock or other securities by the Company or a Subsidiary for consideration to the extent such consideration consists of Common Stock of the
Company; 

  
 shall not, in each case, be deemed to be an Investment.

  
 For purposes of Section 3.4: 
  

	 	(1)	“Investment” will include the portion (proportionate to the Company’s equity interest in a Restricted Subsidiary to be designated as an Unrestricted Subsidiary) of
the fair market value of the net assets of such Restricted Subsidiary of the Company at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a
Restricted Subsidiary, the Company will be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (a) the Company’s “Investment” in such Subsidiary at the time
of such redesignation less (b) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the fair market value of the net assets (as conclusively determined by the Board of Directors of the Company in good faith) of
such Subsidiary at the time that such Subsidiary is so re-designated a Restricted Subsidiary; and 

  

	 	(2)	any property transferred to or from an Unrestricted Subsidiary will be valued at its fair market value at the time of such transfer, in each case as determined in good faith by the
Board of Directors of the Company. 

  

 “Issue Date” means the date on which the Initial Securities are originally issued.

  
 “Lien” means any mortgage, pledge, security
interest, encumbrance, lien or charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof). 
  
 “Minority Interest” means the percentage interest represented by any shares of any class of Capital Stock of a Restricted Subsidiary that
are not owned by the Company or a Restricted Subsidiary. 
  
 “Net Available Cash” from an Asset Disposition means cash payments received (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and net
proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other
obligations relating to the properties or assets that are the subject of such Asset Disposition or received in any other noncash form) therefrom, in each case net of: 
  

	 	(1)	all legal, accounting, investment banking, title and recording tax expenses, commissions and other fees and expenses incurred, and all Federal, state, provincial, foreign and local
taxes required to be paid or accrued as a liability under GAAP (after taking into account any available tax credits or deductions and any tax sharing agreements), as a consequence of such Asset Disposition; 

  

	 	(2)	all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon such assets, or which must by
its terms, or in order to obtain a necessary consent to such Asset Disposition, or by applicable law be repaid out of the proceeds from such Asset Disposition; 

  

	 	(3)	all distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures or to holders of royalty or similar interests as a result of
such Asset Disposition; and 

  

	 	(4)	the deduction of appropriate amounts to be provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the assets disposed of in such Asset
Disposition and retained by the Company or any Restricted Subsidiary after such Asset Disposition. 

  
 “Net Cash Proceeds”, with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of
attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, listing fees, discounts or commissions and brokerage, consultant and other fees and charges actually incurred in connection with such issuance or sale
and net of taxes paid or payable as a result of such issuance or sale (after taking into account any available tax credit or deductions and any tax sharing arrangements). 
  

 “Net Working Capital” means (a) all current assets of the Company and its Restricted
Subsidiaries except current assets from commodity price risk management activities arising in the ordinary course of the Oil and Gas Business, less (b) all current liabilities of the Company and its Restricted Subsidiaries, except current
liabilities included in Indebtedness and any current liabilities from commodity price risk management activities arising in the ordinary course of the Oil and Gas Business, in each case as set forth in the consolidated financial statements of the
Company prepared in accordance with GAAP. 
  
 “Non-Recourse Debt” means Indebtedness of a Person: 
  

	 	(1)	as to which neither the Company nor any Restricted Subsidiary (a) provides any Guarantee or credit support of any kind (including any undertaking, guarantee, indemnity, agreement or
instrument that would constitute Indebtedness) or (b) is directly or indirectly liable (as a guarantor or otherwise); 

  

	 	(2)	no default with respect to which (including any rights that the holders thereof may have to take enforcement action against an Unrestricted Subsidiary) would permit (upon notice,
lapse of time or both) any holder of any other Indebtedness of the Company or any Restricted Subsidiary to declare a default under such other Indebtedness or cause the payment thereof to be accelerated or payable prior to its stated maturity; and

  

	 	(3)	the explicit terms of which provide there is no recourse against any of the assets of the Company or its Restricted Subsidiaries. 

  
 “Non-U.S. Person” means a person who is not a U.S. person,
as defined in Regulation S. 
  
 “Note Register”
means the register of Securities, maintained by the Registrar, pursuant to Section 2.3. 
  
 “Officer” means the Chairman of the Board, the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer or the Secretary of the Company. Officer of any
Subsidiary Guarantor has a correlative meaning. 
  
 “Officers’ Certificate” means a certificate signed by two Officers or by an Officer and either an Assistant Treasurer or an Assistant Secretary of the Company. 
  
 “Oil And Gas Business” means (a) the business of acquiring,
exploring, exploiting, developing, producing, operating and disposing of interests in oil, gas, liquid natural gas and other hydrocarbon properties, (b) the business of gathering, marketing, treating, processing, storage, refining, selling and
transporting of any production from such interests or properties and products produced in association therewith, (c) any business or activity relating to, arising from, or necessary, appropriate or incidental to the activities described in the
foregoing clauses (a) and (b) of this definition. 
  

 “Oil and Gas Properties” means all properties, including equity or other ownership
interests therein, owned by such Person which contain “proved oil and gas reserves” as defined in Rule 4-10 of Regulation S-X of the Securities Act. 
  

“Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an employee of or
counsel to the Company or the Trustee. 
  
 “Pari Passu
Indebtedness” means Indebtedness that ranks equally in right of payment to the Securities. 
  
 “Permitted Business Investment” means any Investment made in the ordinary course of, and of a nature that is or shall have become
customary in, the Oil and Gas Business including investments or expenditures for actively exploiting, exploring for, acquiring, developing, producing, processing, gathering, marketing or transporting oil and gas through agreements, transactions,
interests or arrangements which permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third
parties, including: 
  

	 	(1)	ownership interests in oil and gas properties, liquid natural gas facilities, processing facilities, gathering systems, pipelines or ancillary real property interests;

  

	 	(2)	Investments in the form of or pursuant to operating agreements, processing agreements, farm-in agreements, farm-out agreements, development agreements, area of mutual interest
agreements, unitization agreements, pooling agreements, joint bidding agreements, service contracts, joint venture agreements, partnership agreements (whether general or limited), subscription agreements, stock purchase agreements and other similar
agreements (including for limited liability companies) with third parties; and 

  

	 	(3)	direct or indirect ownership interests in drilling rigs and related equipment, including, without limitation, transportation equipment; 

  
 provided, however, that a “Permitted Business Investment” shall only include
Investments in entities that are classified as pass-through entities for U.S. Federal, state and local and foreign income tax purposes 
  
 “Permitted Investment” means an Investment by the Company or any Restricted Subsidiary in: 
  

	 	(1)	a Restricted Subsidiary or a Person which will, upon the making of such Investment, become a Restricted Subsidiary; provided, however, that the primary business of such
Restricted Subsidiary is the Oil and Gas Business; 

  

	 	(2)	another Person if as a result of such Investment such other Person is merged or consolidated with or into, or transfers or conveys all or substantially all its assets to, the
Company or a Restricted Subsidiary; provided, however, that such Person’s primary business is the Oil and Gas Business; 

  

	 	(3)	cash and Cash Equivalents; 

  

	 	(4)	receivables owing to the Company or any Restricted Subsidiary created or acquired in the ordinary course of the Oil and Gas Business and payable or dischargeable in accordance with
customary trade terms; provided, however, that such trade terms may include such concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable under the circumstances; 

  

	 	(5)	payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made
in the ordinary course of business; 

  

	 	(6)	loans or advances to employees made in the ordinary course of business consistent with past practices of the Company or such Restricted Subsidiary; provided, however, that
the Company and its Subsidiaries will comply in all material respects with all applicable provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith in connection with such loans or advances;

  

	 	(7)	Capital Stock, obligations or securities received in settlement of debts created in the ordinary course of business and owing to the Company or any Restricted Subsidiary or in
satisfaction of judgments or pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of a debtor; 

  

	 	(8)	Investments made as a result of the receipt of non-cash consideration from an Asset Disposition that was made pursuant to and in compliance with Section 3.8;

  

	 	(9)	Investments in existence on the Issue Date; 

  

	 	(10)	Commodity Agreements, Currency Agreements, Interest Rate Agreements and related Hedging Obligations, which transactions or obligations are Incurred in compliance with Section
3.3; 

  

	 	(11)	Guarantees issued in accordance with Section 3.3; 

  

	 	(12)	any Asset Swap made in accordance with Section 3.8; 

  

	 	(13)	 a successor corporation to Big Dog or Shark formed by any recapitalization transaction in which the Company exchanges its 

  

	 	 
membership interests in Big Dog or Shark, as the case may be, for a similar proportion of the capital stock of such successor corporation;

  

	 	(14)	Permitted Business Investments in an aggregate amount not to exceed 5% of Adjusted Consolidated Net Tangible Assets (with Adjusted Consolidated Net Tangible Assets and the fair
market value of such Investment being measured at the time such Investment is made and without giving effect to subsequent changes in value); and 

  

	 	(15)	Investments by the Company or any of its Restricted Subsidiaries, together with all other Investments pursuant to this clause (15), in an aggregate amount at the time of such
Investment not to exceed $10.0 million outstanding at any one time (with the fair market value of such Investment being measured at the time such Investment is made and without giving effect to subsequent changes in value). 

 
 “Permitted Liens” means, with respect to any Person:

  

	 	(1)	Liens securing Indebtedness and other obligations under, and related Hedging Obligations and liens on assets of Restricted Subsidiaries securing Guarantees of Indebtedness and other
obligations of the Company under, any Credit Facility permitted to be Incurred under this Indenture under the provisions described in clause (1) of the second paragraph of Section 3.3; 

  

	 	(2)	pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids,
tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or United States government bonds to secure surety or
appeal bonds to which such Person is a party, or deposits as security for contested taxes or import or customs duties or for the payment of rent, in each case Incurred in the ordinary course of business; 

  

	 	(3)	Liens imposed by law, including carriers’, warehousemen’s, and mechanics’ Liens, in each case for sums not yet due or being contested in good faith by appropriate
proceedings if a reserve or other appropriate provisions, if any, as shall be required by GAAP shall have been made in respect thereof; 

  

	 	(4)	Liens for taxes, assessments or other governmental charges not yet subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings;
provided that appropriate reserves required pursuant to GAAP have been made in respect thereof; 

  

	 	(5)	 Liens in favor of issuers of surety or performance bonds or letters of credit or bankers’ acceptances issued pursuant to the request of and for the 

  

	 	 
account of such Person in the ordinary course of its business; provided, however, that such letters of credit do not constitute Indebtedness;

  

	 	(6)	encumbrances, easements or reservations of, or rights of others for, licenses, rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or
zoning, building codes or other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of such Person or to
the ownership of its properties which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

  

	 	(7)	Liens securing Hedging Obligations so long as the related Indebtedness is, and is permitted to be under this Indenture, secured by a Lien on the same property securing such Hedging
Obligation; 

  

	 	(8)	leases, licenses, subleases and sublicenses of assets (including, without limitation, real property and intellectual property rights) which do not materially interfere with the
ordinary conduct of the business of the Company or any of its Restricted Subsidiaries; 

  

	 	(9)	judgment Liens not giving rise to an Event of Default so long as such Lien is adequately bonded and any appropriate legal proceedings which may have been duly initiated for the
review of such judgment have not been finally terminated or the period within which such proceedings may be initiated has not expired; 

  

	 	(10)	Liens for the purpose of securing the payment of all or a part of the purchase price of, or Capitalized Lease Obligations, purchase money obligations or other payments Incurred to
finance the acquisition, improvement or construction of, assets or property acquired or constructed in the ordinary course of business; provided that: 

  

	 	(a)	the aggregate principal amount of Indebtedness secured by such Liens is otherwise permitted to be Incurred under this Indenture and does not exceed the cost of the assets or
property so acquired or constructed; and 

  

	 	(b)	such Liens are created within 180 days of construction or acquisition of such assets or property and do not encumber any other assets or property of the Company or any Restricted
Subsidiary other than such assets or property and assets affixed or appurtenant thereto; 

  

	 	(11)	 Liens arising solely by virtue of any statutory or common law provisions relating to banker’s Liens, rights of set-off or similar rights and remedies 

  

	 	 
as to deposit accounts or other funds maintained with a depositary institution; provided that: 

  

	 	(a)	such deposit account is not a dedicated cash collateral account and is not subject to restrictions against access by the Company in excess of those set forth by regulations
promulgated by the Federal Reserve Board; and 

  

	 	(b)	such deposit account is not intended by the Company or any Restricted Subsidiary to provide collateral to the depository institution; 

  

	 	(12)	Liens arising from Uniform Commercial Code financing statement filings regarding operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary course
of business; 

  

	 	(13)	Liens existing on the Issue Date; 

  

	 	(14)	Liens on property or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary; provided, however, that such Liens are not created, Incurred or
assumed in connection with, or in contemplation of, such other Person becoming a Restricted Subsidiary; provided further, however, that any such Lien may not extend to any other property owned by the Company or any Restricted Subsidiary

  

	 	(15)	Liens on property at the time the Company or a Restricted Subsidiary acquired the property, including any acquisition by means of a merger or consolidation with or into the Company
or any Restricted Subsidiary; provided, however, that such Liens are not created, Incurred or assumed in connection with, or in contemplation of, such acquisition; provided further, however, that such Liens may not extend to any other
property owned by the Company or any Restricted Subsidiary; 

  

	 	(16)	Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Company or a Wholly-Owned Subsidiary; 

  

	 	(17)	Liens securing the Securities, the Subsidiary Guarantees and other obligations arising under this Indenture; 

  

	 	(18)	Liens securing Refinancing Indebtedness Incurred to refinance Indebtedness that was previously so secured; provided that any such Lien is limited to all or part of the same
property or assets (plus improvements, accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is
in respect of property or assets that is the security for a Permitted Lien hereunder; 

  

	 	(19)	any interest or title of a lessor under any Capitalized Lease Obligation or operating lease; 

  

	 	(20)	Liens in respect of Production Payments and Reserve Sales, which Liens shall be limited to the property that is the subject of such Production Payments and Reserve Sales;

  

	 	(21)	Liens arising under farm-out agreements, farm-in agreements, division orders, contracts for the sale, purchase, exchange, transportation, gathering or processing of Hydrocarbons,
unitizations and pooling designations, declarations, orders and agreements, development agreements, operating agreements, production sales contracts, area of mutual interest agreements, gas balancing or deferred production agreements, injection,
repressuring and recycling agreements, salt water or other disposal agreements, seismic or geophysical permits or agreements, and other agreements which are customary in the Oil and Gas Business; provided, however, in all instances that such Liens
are limited to the assets that are the subject of the relevant agreement, program, order or contract; 

  

	 	(22)	Liens on pipelines or pipeline facilities that arise by operation of law; and 

  

	 	(23)	Liens securing Indebtedness (other than Subordinated Obligations and Guarantor Subordinated Obligations) in an aggregate principal amount outstanding at any one time not to exceed
$5.0 million. 

  
 “Person” means
any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision hereof or any other entity. 
  
 “Preferred Stock”, as applied to the Capital Stock of any
corporation, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation,
over shares of Capital Stock of any other class of such corporation. 
  
 “Production Payments and Reserve Sales” means the grant or transfer by the Company or a Restricted Subsidiary to any Person of a royalty, overriding royalty, net profits interest, production payment (whether volumetric or
dollar denominated), partnership or other interest in oil and gas properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such
interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner
or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive
compensation programs on terms that are reasonably customary in the Oil and Gas 

  

 
Business for geologists, geophysicists or other providers of technical services to the Company or a Restricted Subsidiary. 
  
 A “Public Market” exists at any time with respect to the
Common Stock of the Company if the Common Stock of the Company is then registered with the Commission pursuant to Section 12(b) or 12(g) of Exchange Act and traded either on a national securities exchange or in the National Association of Securities
Dealers Automated Quotation System. 
  
 “Receivables” means a right to receive payment arising from a sale or lease of goods or the performance of services by a Person pursuant to an arrangement with another Person pursuant to which such other Person is obligated
to pay for goods or services under terms that permit the purchase of such goods and services on credit and shall include, in any event, any items of property that would be classified as an “account,” “chattel paper,”
“payment intangible” or “instrument” under the Uniform Commercial Code as in effect in the State of New York and any “supporting obligations” as so defined 
  
 “Receivables Fees” means any fees or interest paid to purchasers or lenders providing the financing in
connection with a factoring agreement or other similar agreement, including any such amounts paid by discounting the face amount of Receivables or participations therein transferred in connection with a factoring agreement or other similar
arrangement, regardless of whether any such transaction is structured as on-balance sheet or off- balance sheet or through a Restricted Subsidiary or an Unrestricted Subsidiary. 
  
 “Refinancing Indebtedness” means Indebtedness that is Incurred to refund, refinance, replace, exchange,
renew, repay or extend (including pursuant to any defeasance or discharge mechanism) (collectively, “refinance,” “refinances,” and “refinanced” shall have a correlative meaning) any Indebtedness existing on the date of
this Indenture or Incurred in compliance with this Indenture (including Indebtedness of the Company that refinances Indebtedness of any Restricted Subsidiary and Indebtedness of any Restricted Subsidiary that refinances Indebtedness of another
Restricted Subsidiary) including Indebtedness that refinances Refinancing Indebtedness; provided, however, that: 
  

	 	(1)	(a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the Stated Maturity of the Securities, the Refinancing Indebtedness has a Stated Maturity no earlier
than the Stated Maturity of the Indebtedness being refinanced or (b) if the Stated Maturity of the Indebtedness being refinanced is later than the Stated Maturity of the Securities, the Refinancing Indebtedness has a Stated Maturity at least 91 days
later than the Stated Maturity of the Securities; 

  

	 	(2)	the Refinancing Indebtedness has an Average Life at the time such Refinancing Indebtedness is Incurred that is equal to or greater than the Average Life of the Indebtedness being
refinanced; 

  

	 	(3)	 such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued with original issue discount, an aggregate issue price) that is equal to or
less than the sum of the aggregate principal amount (or 

  

	 	 
if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced (plus without duplication, any
additional Indebtedness Incurred to pay interest or premiums required by the instruments governing such existing Indebtedness and fees Incurred in connection therewith); and 

  

	 	(4)	if the Indebtedness being refinanced is subordinated in right of payment to the Securities or the Subsidiary Guarantee, such Refinancing Indebtedness is subordinated in right of
payment to the Securities or the Subsidiary Guarantee on terms at least as favorable to the Holders of Securities as those contained in the documentation governing the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded.

  
 “Registration Rights Agreement”
means that certain registration rights agreement dated as of the date of this Indenture by and among the Company, the Subsidiary Guarantors and the initial purchasers set forth therein. 
  
 “Restricted Investment” means any Investment other than a Permitted Investment. 
  
 “Restricted Period” means the 40-day restricted period as
defined in Regulation S. 
  
 “Restricted Securities
Legend” means the Private Placement Legend or the Regulation S Legend, as applicable. 
  
 “Restricted Subsidiary” means any Subsidiary of the Company other than an Unrestricted Subsidiary. 
  
 “Sale/Leaseback Transaction” means an arrangement relating to property now owned or hereafter acquired whereby the Company or a
Restricted Subsidiary transfers such property to a Person and the Company or a Restricted Subsidiary leases it from such Person. 
  
 “Secured Indebtedness” means Indebtedness that is secured by a lien on the property or assets of the relevant obligor. 
  
 “Securities Act” means the Securities Act of 1933, as
amended. 
  
 “Securities Custodian” means the
custodian with respect to the Global Security (as appointed by DTC), or any successor Person thereto and shall initially be the Trustee. 
  
 “Senior Secured Credit Agreement” means the Credit Agreement dated as of November 5, 2004 among the Company, Bank One, N.A., as
Administrative Agent and the lenders parties thereto from time to time, as the same may be amended, supplemented or otherwise modified from time to time. 
  
 “Shark” means Shark Trucking Co., LLC, a Nevada limited liability company. 
  

 “Significant Subsidiary” means any Restricted Subsidiary that would be a
“Significant Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the Commission. 
  
 “Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the payment of
principal of such security is due and payable, including pursuant to any mandatory redemption provision, but shall not include any contingent obligations to repay, redeem or repurchase any such principal prior to the date originally scheduled for
the payment thereof. 
  
 “Subordinated
Obligation” means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter Incurred) that is subordinate or junior in right of payment to the Securities pursuant to a written agreement. 
  
 “Subsidiary” of any Person means (a) any corporation,
association or other business entity (other than a partnership, joint venture, limited liability company or similar entity) of which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees thereof (or persons performing similar functions) or (b) any partnership, joint venture limited liability company or similar entity of which more than 50% of
the capital accounts, distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or indirectly, by (1) such
Person, (2) such Person and one or more Subsidiaries of such Person or (3) one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a Subsidiary will refer to a Subsidiary of the Company. 
  
 “Subsidiary Guarantee” means, individually, any Guarantee of
payment of the Securities by a Subsidiary Guarantor pursuant to the terms of this Indenture and any supplemental indenture thereto, and, collectively, all such Guarantees. 
  
 “Subsidiary Guarantor” means Piper Petroleum Company, Delta Exploration Company, Inc., and Castle Texas
Exploration Limited Partnership, and any Restricted Subsidiary created or acquired by the Company after the Issue Date (other than a Foreign Subsidiary). 
  
 “TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb), as in
effect on the date of this Indenture. 
  
 “Trustee” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the successor. 
  
 “Trust Officer” shall mean, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee,
including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be
such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.

  

 “Unrestricted Subsidiary” means: 
  

	 	(1)	any Subsidiary of the Company that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors of the Company in the manner provided below;
and 

  

	 	(2)	any Subsidiary of an Unrestricted Subsidiary. 

  
 The Board of Directors of the Company may designate any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary or a Person
becoming a Subsidiary through merger or consolidation or Investment therein) to be an Unrestricted Subsidiary only if: 
  

	 	(1)	such Subsidiary or any of its Subsidiaries does not own any Capital Stock or Indebtedness of or have any Investment in, or own or hold any Lien on any property of, any other
Subsidiary of the Company which is not a Subsidiary of the Subsidiary to be so designated or otherwise an Unrestricted Subsidiary; 

  

	 	(2)	all the Indebtedness of such Subsidiary and its Subsidiaries shall, at the date of designation, and will at all times thereafter, consist of Non-Recourse Debt;

  

	 	(3)	such designation and the Investment of the Company in such Subsidiary complies with Section 3.4; 

  

	 	(4)	such Subsidiary, either alone or in the aggregate with all other Unrestricted Subsidiaries, does not operate, directly or indirectly, a substantial portion of the business of the
Company and its Subsidiaries; 

  

	 	(5)	such Subsidiary is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or indirect obligation: (a) to subscribe for additional
Capital Stock of such Person; or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating results; and 

  

	 	(6)	on the date such Subsidiary is designated an Unrestricted Subsidiary, such Subsidiary is not a party to any agreement, contract, arrangement or understanding with the Company or any
Restricted Subsidiary with terms substantially less favorable to the Company, than those that might have been obtained from Persons who are not Affiliates of the Company. 

  
 Any such designation by the Board of Directors of the Company shall be evidenced to the Trustee by filing with the Trustee a
resolution of the Board of Directors of the Company giving effect to such designation and an Officers’ Certificate certifying that such designation complies with the foregoing conditions. If, at any time, any Unrestricted Subsidiary would fail
to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter 

  

 
cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary shall be deemed to be Incurred as of such date.

  
 The Board of Directors of the Company may designate any
Unrestricted Subsidiary to be a Restricted Subsidiary; provided that immediately after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof and the
Company could Incur at least $1.00 of additional Indebtedness under the first paragraph of Section 3.3 on a pro forma basis taking into account such designation. 
  
 “U.S. Government Obligations” means securities that are (a) direct obligations of the United States of
America for the timely payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is
unconditionally guaranteed as a full faith and credit obligation of the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank
(as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or interest on any such U.S. Government Obligations held by such custodian for the account
of the holder of such depositary receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the
custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depositary receipt. 
  
 “Volumetric Production Payments” means production payment obligations recorded as deferred revenue in
accordance with GAAP, together with all undertakings and obligations in connection therewith. 
  
 “Voting Stock” of a corporation means all classes of Capital Stock of such corporation then outstanding and normally entitled to vote in the election of directors. 
  
 “Wholly-Owned Subsidiary” means a Restricted Subsidiary, all
of the Capital Stock of which (other than directors’ qualifying shares) is owned by the Company or another Wholly-Owned Subsidiary. 
  
 SECTION 1.2. Other Definitions. 
  

			
	 Term

	  	 Defined in Section

	 “Additional Restricted Securities”
	  	          2.1(b)
		
	 “Affiliate Transaction”
	  	          3.9
		
	 “Agent Member”
	  	          2.1(e)

  

			
	 Term

	  	 Defined in Section

	 “Asset Disposition Offer”
	  	          3.8(b)
		
	 “Asset Disposition Offer Amount”
	  	          3.8(c)(1)
		
	 “Asset Disposition Offer Period”
	  	          3.8(c)(1)
		
	 “Asset Disposition Purchase Date”
	  	          3.8(c)(1)
		
	 “Authenticating Agent”
	  	          2.2
		
	 “Certificate of Destruction”
	  	          2.12
		
	 “Change of Control Offer”
	  	          3.10(b)
		
	 “Change of Control Payment”
	  	          3.10(b)(1)
		
	 “Change of Control Payment Date”
	  	          3.10(b)(2)
		
	 “Company Order”
	  	          2.2
		
	 “Corporate Trust Office”
	  	          3.15
		
	 “covenant defeasance option”
	  	          8.1(b)
		
	 “cross acceleration provision”
	  	          6.1(6)(b)
		
	 “Defaulted Interest”
	  	          2.11
		
	 “Event of Default”
	  	          6.1
		
	 “Excess Proceeds”
	  	          3.8(b)
		
	 “Exchange Global Note”
	  	          2.1(b)
		
	 “Funding Guarantor”
	  	        10.4
		
	 “General Partner”
	  	1.1 (definition of “Indebtedness”)
		
	 “Global Securities”
	  	          2.1(b)
		
	 “IAI”
	  	          2.1(b)
		
	 “Institutional Accredited Investor Note”
	  	          2.1(b)

  

			
	 Term

	  	 Defined in Section

	 “Institutional Accredited Investor Global Note”
	  	          2.1(b)
		
	 “Joint Venture”
	  	1.1 (definition of “Indebtedness”)
		
	 “judgment default provision”
	  	          6.1(8)
		
	 “legal defeasance option”
	  	          8.1(b)
		
	 “Legal Holiday”
	  	        11.8
		
	 “Obligations”
	  	        10.1
		
	 “Pari Passu Notes”
	  	          3.8(b)
		
	 “Paying Agent”
	  	          2.3
		
	 “payment default”
	  	          6.1(6)(a)
		
	 “Private Placement Legend”
	  	          2.1(d)
		
	 “protected purchaser”
	  	          2.7
		
	 “QIB”
	  	          2.1(b)
		
	 “Redemption Date”
	  	          5.1
		
	 “Registrar”
	  	          2.3
		
	 “Regulation S”
	  	          2.1(b)
		
	 “Regulation S Global Note”
	  	          2.1(b)
		
	 “Regulation S Legend”
	  	          2.1(d)
		
	 “Regulation S Note”
	  	          2.1(b)
		
	 “Resale Restriction Termination Date”
	  	          2.6(a)
		
	 “Restricted Payment”
	  	          3.4
		
	 “Rule 144A”
	  	          2.1(b)
		
	 “Rule 144A Global Note”
	  	          2.1(b)

  

			
	 Term

	  	 Defined in Section

	 “Rule 144A Note”
	  	          2.1(b)
		
	 “Special Interest Payment Date”
	  	          2.11(a)
		
	 “Special Record Date”
	  	          2.11(a)
		
	 “Successor Company”
	  	          4.1

  
 SECTION 1.3.
Incorporation by Reference of Trust Indenture Act. This Indenture is subject to the mandatory provisions of the TIA which are incorporated by reference in and made a part of this Indenture. The following TIA terms have the following meanings:

  
 “Commission” means the Securities and Exchange
Commission. 
  
 “indenture securities” mean the
Securities. 
  
 “indenture security holder” means a
Securityholder. 
  
 “indenture to be qualified” means
this Indenture. 
  
 “indenture trustee” or
“institutional trustee” means the Trustee. 
  
 “obligor” on the Indenture securities means the Company and any other obligor on the Indenture securities. 
  
 All other TIA terms used in this Indenture that are defined by the TIA, defined in the TIA by reference to another statute or defined by Commission rule
have the meanings assigned to them by such definitions. 
  
 SECTION 1.4. Rules of Construction. Unless the context otherwise requires: 
  

	 	(1)	a term has the meaning assigned to it; 

  

	 	(2)	an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

  

	 	(3)	“or” is not exclusive; 

  

	 	(4)	“including” means including without limitation; 

  

	 	(5)	words in the singular include the plural and words in the plural include the singular; 

  

	 	(6)	unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its nature as unsecured Indebtedness; 

  

	 	(7)	the principal amount of any non-interest bearing or other discount security at any date shall be the principal amount thereof that would be shown on a balance sheet of the issuer
dated such date prepared in accordance with GAAP; 

  

	 	(8)	the principal amount of any Preferred Stock shall be (i) the maximum liquidation value of such Preferred Stock or (ii) the maximum mandatory redemption or mandatory repurchase price
with respect to such Preferred Stock, whichever is greater; and 

  

	 	(9)	references to sections of or rules under the Securities Act will be deemed to include substitute, replacement or successor sections or rules adopted by the Commission from time to
time. 

  
 ARTICLE II 
  
 The Securities 
  
 SECTION 2.1. Form, Dating and Terms. 
  
 (a) The aggregate principal amount of Securities that may be authenticated
and delivered under this Indenture is unlimited. The Initial Securities issued on the date hereof will be in an aggregate principal amount of $150,000,000. In addition, the Company may issue, from time to time in accordance with the provisions of
this Indenture, including, without limitation, Section 3.3 hereof, Additional Securities and Exchange Securities. Furthermore, Securities may be authenticated and delivered upon registration or transfer, or in lieu of, other Securities
pursuant to Sections 2.6, 2.7, 2.9, 5.8 or 9.5 or in connection with an Asset Disposition Offer pursuant to Section 3.8 or a Change of Control Offer pursuant to Section 3.10. 
  
 The Initial Securities, Additional Securities and Exchange Securities shall
be known and designated as “7% Senior Notes due 2015” of the Company. 
  
 With respect to any Additional Securities, the Company shall set forth in a resolution of the Board of Directors and an Officers’ Certificate, the following information: 
  

	 	(1)	the aggregate principal amount of such Additional Securities to be authenticated and delivered pursuant to this Indenture; 

  

	 	(2)	the issue price and the issue date of such Additional Securities, including the date from which interest shall accrue; and 

  

	 	(3)	whether such Additional Securities shall be Restricted Securities issued in the form of Exhibit A hereto and/or shall be issued in the form of Exhibit B hereto.

  
 The Initial Securities, the Additional
Securities and the Exchange Securities shall be considered collectively as a single class for all purposes of this Indenture. Holders of the 

  

 
Initial Securities, the Additional Securities and the Exchange Securities will vote and consent together on all matters to which such Holders are entitled to
vote or consent as one class, and none of the Holders of the Initial Securities, the Additional Securities or the Exchange Securities shall have the right to vote or consent as a separate class on any matter to which such Holders are entitled to
vote or consent. 
  
 (b) The Initial Securities are being offered
and sold by the Company pursuant to a Purchase Agreement, dated March 9, 2005, among the Company, the Subsidiary Guarantors, J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and the other several initial purchasers listed in Schedule I
thereto. The Initial Securities and any Additional Securities (if issued as Restricted Securities) (the “Additional Restricted Securities”) will be resold initially only to (A) qualified institutional buyers (as defined in Rule 144A
under the Securities Act (“Rule 144A”)) in reliance on Rule 144A (“QIBs”) and (B) Persons other than U.S. Persons (as defined in Regulation S under the Securities Act (“Regulation S”)) in reliance
on Regulation S. Such Initial Securities and Additional Restricted Securities may thereafter be transferred to, among others, QIBs, purchasers in reliance on Regulation S and institutional “accredited investors” (as defined in Rules
501(a)(1), (2), (3) and (7) under the Securities Act) who are not QIBs (“IAIs”) in accordance with Rule 501 of the Securities Act in accordance with the procedure described herein. 
  
 Initial Securities and Additional Restricted Securities offered and sold to
qualified institutional buyers in the United States of America in reliance on Rule 144A (the “Rule 144A Notes”) shall be issued in the form of a permanent global Security, without interest coupons, substantially in the form of
Exhibit A, which is hereby incorporated by reference and made a part of this Indenture, including appropriate legends as set forth in Section 2.1(d) (the “Rule 144A Global Note”), deposited with the Trustee, as
custodian for DTC, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The Rule 144A Global Note may be represented by more than one certificate, if so required by DTC’s rules regarding the maximum principal
amount to be represented by a single certificate. The aggregate principal amount of the Rule 144A Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC or its nominee, as
hereinafter provided. 
  
 Initial Securities and Additional
Securities offered and sold outside the United States of America (the “Regulation S Notes”) in reliance on Regulation S shall be issued in the form of a permanent global Security, without interest coupons, substantially in the form
of Exhibit A (the “Regulation S Global Note”) deposited with the Trustee, as custodian for DTC, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The Regulation S Global Note may be
represented by more than one certificate, if so required by DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Regulation S Global Note may from time to time be
increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC or its nominee, as hereinafter provided. 
  
 Initial Securities and Additional Securities resold to IAIs (the “Institutional Accredited Investor Notes”) in the United States of
America shall be issued in the form of a permanent global Security, without interest coupons, substantially in the form of Exhibit A (the “Institutional Accredited Investor Global Note”) deposited with the Trustee, as
custodian for 

  

 
DTC, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The Institutional Accredited Investor Global Note may be
represented by more than one certificate, if so required by DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Institutional Accredited Investor Global Note may
from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC or its nominee, as hereinafter provided. 
  
 Exchange Securities exchanged for interests in the Rule 144A Notes, the Regulation S Notes and the Institutional Accredited Investor Notes will be issued
in the form of a permanent global Security, without interest coupons, substantially in the form of Exhibit B, which is hereby incorporated by reference and made a part of this Indenture, deposited with the Trustee as hereinafter
provided, including the appropriate legend set forth in Section 2.1(d) (the “Exchange Global Note”). The Exchange Global Note may be represented by more than one certificate, if so required by DTC’s rules regarding the
maximum principal amount to be represented by a single certificate. 
  
 The Rule 144A Global Note, the Regulation S Global Note, the Institutional Accredited Investor Global Note and the Exchange Global Note are sometimes collectively herein referred to as the “Global Securities.” 

 
 The principal of (and premium, if any) and interest on the Securities
shall be payable at the office or agency of the Company maintained for such purpose in The City of New York, or at such other office or agency of the Company as may be maintained for such purpose pursuant to Section 2.3; provided,
however, that, at the option of the Company, each installment of interest may be paid by (i) check mailed to addresses of the Persons entitled thereto as such addresses shall appear on the Note Register or (ii) wire transfer to an account
located in the United States maintained by the payee. Payments in respect of Securities represented by a Global Security (including principal, premium and interest) will be made by wire transfer of immediately available funds to the accounts
specified by DTC. 
  
 The Securities may have notations, legends
or endorsements required by law, stock exchange rule or usage or DTC rule or usage in addition to those set forth on Exhibit A and Exhibit B and in Section 2.1(d). The Company and the Trustee shall approve the forms of the
Securities and any notation, endorsement or legend on them. Each Security shall be dated the date of its authentication. The terms of the Securities set forth in Exhibit A and Exhibit B are part of the terms of this Indenture and, to
the extent applicable, the Company, the Subsidiary Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to be bound by such terms. 
  
 (c) Denominations. The Securities shall be issuable only in fully registered form, without coupons, and only in
denominations of $1,000 and any integral multiple thereof. 
  
 (d)
Restrictive Legends. Unless and until (i) an Initial Security is sold under an effective registration statement or (ii) an Initial Security is exchanged for an Exchange Security in connection with an effective registration statement, in each
case pursuant to the Registration Rights Agreement or a similar agreement, 
  

 (A) the Rule 144A Global Note and the Institutional Accredited Investor Global Note shall bear the
following legend (the “Private Placement Legend”) on the face thereof: 
  
 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER
OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION
TERMINATION DATE”) THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE
COMPANY, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES
IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) AND (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.” 
  

 (B) the Regulation S Global Note shall bear the following legend (the “Regulation S
Legend”) on the face thereof: 
  
 “THIS SECURITY
HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED,
SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES
ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS FORTY DAYS AFTER THE
LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A REGISTRATION STATEMENT
THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS
DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES
THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL
ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO
OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) AND (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED
UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING 

  

 
THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.” 
  
 (C) The Global Securities, whether or not an Initial Security, shall bear the
following legend on the face thereof: 
  
 “UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE,
BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THIS INDENTURE
REFERRED TO ON THE REVERSE HEREOF.” 
  
 (e) Book-Entry
Provisions. 
  
 (i) This Section 2.1(e) shall apply
only to Global Securities deposited with the Trustee, as custodian for DTC. 
  
 (ii) Each Global Security initially shall (x) be registered in the name of DTC for such Global Security or the nominee of DTC, (y) be delivered to the Trustee as custodian for DTC and (z) bear legends as set forth in
Section 2.1(d). 
  
 (iii) Members of, or participants in,
DTC (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by DTC or by the Trustee as the custodian of DTC or under such Global Security, and DTC may be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the
Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by DTC or impair, as between DTC and its Agent Members, the operation of customary practices of DTC governing the exercise of the rights
of a Holder of a beneficial interest in any Global Security. 
  
 (iv) In connection with any transfer of a portion of the beneficial interest in a Global Security pursuant to subsection (f) of this Section 2.1 to beneficial owners who are required to hold Definitive Securities, the Securities
Custodian shall reflect on its books and 

  

 
records the date and a decrease in the principal amount of such Global Security in an amount equal to the principal amount of the beneficial interest in the
Global Security to be transferred, and the Company shall execute, and the Trustee shall authenticate and deliver, one or more Definitive Securities of like tenor and amount. 
  
 (v) In connection with the transfer of an entire Global Security to beneficial owners pursuant to subsection (f) of this
Section 2.1, such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner identified by DTC in exchange for its
beneficial interest in such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. 
  
 (vi) The registered Holder of a Global Security may grant proxies and otherwise authorize any person, including Agent Members and persons that may hold
interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 
  
 (f) Definitive Securities. (i) Except as provided below, owners of beneficial interests in Global Securities will not be entitled to receive
Definitive Securities. If required to do so pursuant to any applicable law or regulation, beneficial owners may obtain Definitive Securities in exchange for their beneficial interests in a Global Security upon written request in accordance with
DTC’s and the Registrar’s procedures. In addition, Definitive Securities shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Security if (a) DTC notifies the Company that it is unwilling or
unable to continue as depositary for such Global Security or DTC ceases to be a clearing agency registered under the Exchange Act, at a time when DTC is required to be so registered in order to act as depositary, and in each case a successor
depositary is not appointed by the Company within 90 days of such notice or, (b) the Company executes and delivers to the Trustee and Registrar an Officers’ Certificate stating that such Global Security shall be so exchangeable or (c) an Event
of Default has occurred and is continuing and the Registrar has received a request from DTC. 
  
 (ii) Any Definitive Security delivered in exchange for an interest in a Global Security pursuant to Section 2.1(e)(iv) or (v) shall, except as otherwise provided by Section 2.6(c), bear the
applicable legend regarding transfer restrictions applicable to the Definitive Security set forth in Section 2.1(d). 
  
 (iii) In connection with the exchange of a portion of a Definitive Security for a beneficial interest in a Global Security, the Trustee shall cancel such
Definitive Security, and the Company shall execute, and the Trustee shall authenticate and deliver, to the transferring Holder a new Definitive Security representing the principal amount not so transferred. 
  
 SECTION 2.2. Execution and Authentication. One Officer shall sign the
Securities for the Company by manual or facsimile signature. If an Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless, after giving effect
to any exchange of Initial Securities for Exchange Securities. 
  

 A Security shall not be valid until an authorized signatory of the Trustee manually authenticates the
Security. The signature of the Trustee on a Security shall be conclusive evidence that such Security has been duly and validly authenticated and issued under this Indenture. A Security shall be dated the date of its authentication. 
  
 At any time and from time to time after the execution and delivery of this
Indenture, the Trustee shall authenticate and make available for delivery: (1) Initial Securities for original issue on the Issue Date in an aggregate principal amount of $150,000,000, (2) Additional Securities for original issue and (3) Exchange
Securities for issue only in an Exchange Offer pursuant to the Registration Rights Agreement, and only in exchange for Initial Securities or Additional Securities of an equal principal amount, in each case upon a written order of the Company signed
by two Officers or by an Officer and either an Assistant Treasurer or an Assistant Secretary of the Company (the “Company Order”). Such Company Order shall specify the amount of the Securities to be authenticated and the date on
which the original issue of Securities is to be authenticated and whether the Securities are to be Initial Securities, Additional Securities or Exchange Securities. 
  
 The Trustee may appoint an agent (the “Authenticating Agent”) reasonably acceptable to the Company to
authenticate the Securities. Unless limited by the terms of such appointment, any such Authenticating Agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes
authentication by the Authenticating Agent. 
  
 In case the
Company or any Subsidiary Guarantor, pursuant to Article IV, shall be consolidated or merged with or into any other Person or shall convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any
Person, and the Successor Company resulting from such consolidation, or surviving such merger, or into which the Company shall have been merged, or the Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid,
shall have executed an indenture supplemental hereto with the Trustee pursuant to Article IV, any of the Securities authenticated or delivered prior to such consolidation, merger, conveyance, transfer, lease or other disposition may, from
time to time, at the request of the Successor Company, be exchanged for other Securities executed in the name of the Successor Company with such changes in phraseology and form as may be appropriate, but otherwise in substance of like tenor as the
Securities surrendered for such exchange and of like principal amount; and the Trustee, upon Company Order of the Successor Company, shall authenticate and deliver Securities as specified in such order for the purpose of such exchange. If Securities
shall at any time be authenticated and delivered in any new name of a Successor Company pursuant to this Section 2.2 in exchange or substitution for or upon registration of transfer of any Securities, such Successor Company, at the option of
the Holders but without expense to them, shall provide for the exchange of all Securities at the time outstanding for Securities authenticated and delivered in such new name. 
  
 SECTION 2.3. Registrar and Paying Agent. The Company shall maintain an office or agency where Securities may be
presented for registration of transfer or for exchange (the “Registrar”) and an office or agency where Securities may be presented for payment (the “Paying Agent”). The Company shall cause each of the Registrar and
the Paying Agent to maintain an office or agency in the Borough of Manhattan, The City of New York. The 

  

 
Registrar shall keep a register of the Securities and of their transfer and exchange (the “Note Register”). The Company may have one or more
co-registrars and one or more additional paying agents. The term “Paying Agent” includes any additional paying agent. 
  
 The Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent or co-registrar not a party to this Indenture, which shall
incorporate the terms of the TIA. The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address of each such agent. If the Company fails to maintain a Registrar
or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.7. The Company or any of its Restricted Subsidiaries may act as Paying Agent, Registrar, co-registrar or transfer
agent. 
  
 The Company initially appoints the Trustee as Registrar
and Paying Agent for the Securities. 
  
 SECTION 2.4. Paying
Agent to Hold Money in Trust. By no later than 10:00 a.m. (New York City time) on the date on which any principal of or interest on any Security is due and payable, the Company shall deposit with the Paying Agent a sum sufficient in immediately
available funds to pay such principal or interest when due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of Securityholders or the Trustee all
money held by such Paying Agent for the payment of principal of or interest on the Securities and shall notify the Trustee in writing of any default by any of the Company or any Subsidiary Guarantor in making any such payment. If the Company or a
Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and
to account for any funds disbursed by such Paying Agent. Upon complying with this Section 2.4, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money delivered to the Trustee. Upon any
bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Securities. 
  
 SECTION 2.5. Securityholder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to
it of the names and addresses of Securityholders. If the Trustee is not the Registrar, or to the extent otherwise required under the TIA, the Company shall furnish to the Trustee, in writing at least five Business Days before each interest payment
date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Securityholders. 
  

 SECTION 2.6. Transfer and Exchange. 
  
 (a) The following provisions shall apply with respect to any proposed transfer of a Rule 144A Note or an Institutional
Accredited Investor Note prior to the date which is two years after the later of the date of its original issue and the last date on which the Company or any affiliate of the Company was the owner of such Securities (or any predecessor thereto) (the
“Resale Restriction Termination Date”): 
  
 (i) a
transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a beneficial interest therein to a QIB shall be made upon the representation of the transferee in the form as set forth on the reverse of the Security that it is purchasing
for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is
being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the
transferor is relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A; 
  
 (ii) a transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a beneficial interest therein to an IAI shall be made upon receipt by
the Trustee or its agent of a certificate substantially in the form set forth in Exhibit C from the proposed transferee and, if requested by the Company or the Trustee, the delivery of an opinion of counsel stating that such transaction is
exempt from registration under the Federal securities laws, certification and/or other information satisfactory to each of them; and 
  
 (iii) a transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a beneficial interest therein to a Non-U.S. Person shall be made upon
receipt by the Trustee or its agent of a certificate substantially in the form set forth in Exhibit D from the proposed transferee and, if requested by the Company or the Trustee, the delivery of an opinion of counsel stating that such
transaction is exempt from registration under the Federal securities laws, certification and/or other information satisfactory to each of them. 
  
 (b) The following provisions shall apply with respect to any proposed transfer of a Regulation S Note prior to the expiration of the Restricted Period:

  
 (i) a transfer of a Regulation S Note or a beneficial interest
therein to a QIB shall be made upon the representation of the transferee, in the form of assignment on the reverse of the certificate, that it is purchasing the Security for its own account or an account with respect to which it exercises sole
investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such
information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the
exemption from registration provided by Rule 144A; 
  
 (ii) a
transfer of a Regulation S Note or a beneficial interest therein to an IAI shall be made upon receipt by the Trustee or its agent of a certificate substantially in the form set forth in Exhibit C from the proposed transferee and, if requested
by the Company or the Trustee, the delivery of an opinion of counsel stating that such transaction is exempt from registration under the Federal securities laws, certification and/or other information satisfactory to each of them; and 
  

 (iii) a transfer of a Regulation S Note or a beneficial interest therein to a Non-U.S. Person shall be
made upon receipt by the Trustee or its agent of a certificate substantially in the form set forth in Exhibit D hereof from the proposed transferee and, if requested by the Company or the Trustee, receipt by the Trustee or its agent of an
opinion of counsel stating that such transaction is exempt from registration under the Federal securities laws, certification and/or other information satisfactory to each of them. 
  
 After the expiration of the Restricted Period, interests in the Regulation S Note may be transferred without requiring the
certification set forth in Exhibit C, Exhibit D or any additional certification. 
  
 (c) Restricted Securities Legend. Upon the transfer, exchange or replacement of Securities not bearing a Restricted Securities Legend, the Registrar shall deliver Securities that do not bear a Restricted
Securities Legend unless such transferee is an affiliate (as defined in Rule 144A) of the Company. Upon the registration of transfer, exchange or replacement of Securities bearing a Restricted Securities Legend, the Registrar shall deliver only
Securities that bear a Restricted Securities Legend unless there is delivered to the Registrar an Opinion of Counsel to the effect that neither such legend nor the related restrictions on transfer are required in order to maintain compliance with
the provisions of the Securities Act. 
  
 (d) The Registrar shall
retain copies of all letters, notices and other written communications received pursuant to Section 2.1 or this Section 2.6. The Company shall have the right to inspect and make copies of all such letters, notices or other written
communications at any reasonable time upon the giving of reasonable prior written notice to the Registrar. 
  
 (e) Obligations with Respect to Transfers and Exchanges of Securities. 
  
 (i) To permit registrations of transfers and exchanges, the Company shall, subject to the other terms and conditions of this
Article II, execute and the Trustee shall authenticate Definitive Securities and Global Securities at the Registrar’s or co-registrar’s request. 
  
 (ii) No service charge shall be made to a Holder for any registration of transfer or exchange, but the Company or the
Trustee may require payment by a Holder of a sum sufficient to cover any transfer tax, assessments, or similar governmental taxes and fees payable in connection therewith (other than any such transfer taxes, assessments or similar governmental taxes
and fees payable upon exchange or transfer pursuant to Sections 3.8, 3.10 or 9.5). 
  
 (iii) The Registrar or co-registrar shall not be required to register the transfer of or exchange of any Security for a period beginning (1) 15 days
before the selection of Securities to be repurchased or redeemed and ending at the close of business on the day of such selection (except, in the case of Securities to be redeemed in part, the portion of the Security not to be redeemed) or (2) 15
days before an interest payment date and ending on such interest payment date. 
  
 (iv) Prior to the due presentation for registration of transfer of any Security, the Company, the Trustee, the Paying Agent, the Registrar or any co-registrar may deem 

  

 
and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and
interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Company, the Trustee, the Paying Agent, the Registrar or any co-registrar shall be affected by notice to the contrary.

  
 (v) Any Definitive Security delivered in exchange for an
interest in a Global Security pursuant to Section 2.1(e) shall, except as otherwise provided by Section 2.6(c), bear the applicable legend regarding transfer restrictions applicable to the Definitive Security set forth in Section
2.1(d). 
  
 (vi) All Securities issued upon any registration
of transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such registration of transfer or exchange. 
  
 (f) No Obligation of the Trustee. 
  
 (i) The Trustee shall have no responsibility or obligation to any beneficial
owner of a Global Security, a member of, or a participant in, DTC or other Person with respect to the accuracy of the records of DTC or its nominee or of any participant or member thereof, with respect to any ownership interest in the Securities or
with respect to the delivery to any participant, member, beneficial owner or other Person (other than DTC) of any notice (including any notice of redemption) or the payment of any amount or delivery of any Securities (or other security or property)
under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to Holders in respect of the Securities shall be given or made only to or upon the order of the registered Holders (which
shall be DTC or its nominee in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through DTC subject to the applicable rules and procedures of DTC. The Trustee may rely and shall be fully
protected in relying upon information furnished by DTC with respect to its members, participants and any beneficial owners. 
  
 (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this
Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among DTC participants, members or beneficial owners in any Global Security) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express
requirements hereof. 
  
 SECTION 2.7. Mutilated, Destroyed,
Lost or Stolen Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that the Security has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a
replacement Security if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the Securityholder (a) satisfies the Company or the Trustee 

  

 
within a reasonable time after such Securityholder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer
prior to receiving such notification, (b) makes such request to the Company or Trustee prior to the Security being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a “protected
purchaser”) and (c) satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the Company, such Holder shall furnish an indemnity bond sufficient in the judgment of the Company and the Trustee to protect the
Company, the Subsidiary Guarantors, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss which any of them may suffer if a Security is replaced, and, in the absence of notice to the Company, the Subsidiary Guarantors or
the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute and upon Company Order the Trustee shall authenticate and make available for delivery, in exchange for any such mutilated Security or in lieu of any
such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously outstanding. 
  
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may,
instead of issuing a new Security, pay such Security. 
  
 Upon the
issuance of any new Security under this Section 2.7, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee) in connection therewith. 
  
 Every new
Security issued pursuant to this Section 2.7 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, any Subsidiary Guarantor (if applicable) and any other
obligor upon the Securities, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately with any and all other
Securities duly issued hereunder. 
  
 The provisions of this
Section 2.7 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
  
 SECTION 2.8. Outstanding Securities. Securities outstanding at any
time are all Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation and those described in this Section 2.8 as not outstanding. A Security shall be deemed to be outstanding in the event
the Company or an Affiliate of the Company holds the Security, provided, however, that (i) for purposes of determining which are outstanding for consent or voting purposes hereunder, the provisions of Section 11.6 shall apply and (ii)
in determining whether the Trustee shall be protected in making a determination whether the Holders of the requisite principal amount of outstanding Securities are present at a meeting of Holders of Securities for quorum purposes or have consented
to or voted in favor of any request, demand, authorization, direction, notice, consent, waiver, amendment or modification hereunder, or relying upon any such quorum, consent or vote, only Securities which a Trust Officer of the 

  

 
Trustee actually knows to be held by the Company or an Affiliate of the Company shall not be considered outstanding. 
  
 If a Security is replaced pursuant to Section 2.7, it ceases to be
outstanding unless the Trustee and the Company receive proof satisfactory to them that the replaced Security is held by a protected purchaser. 
  
 If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a Redemption Date or maturity date money sufficient to pay all
principal and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, and the Paying Agent is not prohibited from paying such money to the Securityholders on that date
pursuant to the terms of this Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 
  
 SECTION 2.9. Temporary Securities. In the event that Definitive Securities are to be issued under the terms of this
Indenture, until such Definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of Definitive Securities but may have
variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate Definitive Securities. After the preparation of Definitive Securities, the temporary
Securities shall be exchangeable for Definitive Securities upon surrender of the temporary Securities at any office or agency maintained by the Company for that purpose and such exchange shall be without charge to the Holder. Upon surrender for
cancellation of any one or more temporary Securities, the Company shall execute, and the Trustee shall authenticate and make available for delivery in exchange therefor, one or more Definitive Securities representing an equal principal amount of
Securities. Until so exchanged, the Holder of temporary Securities shall in all respects be entitled to the same benefits under this Indenture as a Holder of Definitive Securities. 
  
 SECTION 2.10. Cancellation. The Company at any time may deliver Securities to the Trustee for cancellation. The
Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for registration of transfer,
exchange, payment or cancellation and destroy such Securities in accordance with its internal policies and, upon the Company’s written request, deliver a certificate (a “Certificate of Destruction”) describing such Securities
disposed (subject to the record retention requirements of the Exchange Act). The Company may not issue new Securities to replace Securities it has paid or delivered to the Trustee for cancellation for any reason other than in connection with a
transfer or exchange. 
  
 SECTION 2.11. Payment of Interest;
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is
registered at the close of business on the regular record date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 2.3. 
  

 Any interest on any Security which is payable, but is not paid when the same becomes due and payable and
such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted
interest at the rate borne by the Securities (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election in each case, as provided in clause (a) or (b)
below: 
  
 (a) The Company may elect to make payment of any
Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall
be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the
“Special Interest Payment Date”), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the
Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than
10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date, and in the name and at the expense of the Company, shall cause notice of the proposed payment
of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 11.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment
of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their
respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). 
  
 (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements
of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment
shall be deemed practicable by the Trustee. 
  
 Subject to the
foregoing provisions of this Section 2.11, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to
accrue, which were carried by such other Security. 
  

 SECTION 2.12. Computation of Interest. Interest on the Securities shall be computed on the basis
of a 360-day year of twelve 30-day months. 
  
 SECTION 2.13.
CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use) and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided,
however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such CUSIP numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP numbers.

  
 ARTICLE III 
  
 Covenants 
  
 SECTION 3.1. Payment of Securities. The Company shall promptly pay the principal of and interest on the Securities on
the dates and in the manner provided in the Securities and in this Indenture. Principal and interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds in accordance with this Indenture immediately
available funds sufficient to pay all principal and interest then due. 
  
 The Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 
  
 Notwithstanding anything to the contrary contained in this Indenture, the
Company may, to the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America from principal or interest payments hereunder. 
  
 SECTION 3.2. Commission Reports. Notwithstanding that the Company may
not continue to be subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, to the extent permitted by the Exchange Act, the Company will file with the Commission, and make available to the Trustee and the registered Holders
of the Securities, the annual reports and the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may by rules and regulations prescribe) that are specified in Sections 13 and 15(d) of the
Exchange Act within the time periods specified therein. In the event that the Company is not permitted to file such reports, documents and information with the Commission pursuant to the Exchange Act, the Company will nevertheless make available
such Exchange Act information to the Trustee and the Holders of the Securities as if the Company were subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act within the time periods specified therein. 
  
 If the Company has designated any of its Subsidiaries as Unrestricted
Subsidiaries, then the quarterly and annual financial information required by the preceding 

  

 
paragraph shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes to the financial statements
and in Management’s Discussion and Analysis of Results of Operations and Financial Condition, of the financial condition and results of operations of the Company and its Restricted Subsidiaries. 
  
 SECTION 3.3. Limitation on Indebtedness. The Company shall not, and
shall not permit any of its Restricted Subsidiaries to, Incur any Indebtedness (including Acquired Indebtedness); provided, however, that the Company and the Subsidiary Guarantors may Incur Indebtedness if on the date thereof: 
  

	 	(1)	the Consolidated Coverage Ratio for the Company and its Restricted Subsidiaries is at least (a) 2.50 to 1.00; and 

  

	 	(2)	no Default or Event of Default will have occurred or be continuing or would occur as a consequence of Incurring the Indebtedness or transactions relating to such Incurrence.

  
 The first paragraph of this Section 3.3
will not prohibit the Incurrence of the following Indebtedness: 
  

	 	(1)	Indebtedness of the Company Incurred pursuant to a Credit Facility in an aggregate amount up to the greater of (a) $125.0 million or (b) so long as the Consolidated Coverage Ratio
for the Company and its Restricted Subsidiaries is at least 2.00 to 1.00 after giving effect to any such Incurrence, 20.0% of Adjusted Consolidated Net Tangible Assets determined as of the date of the Incurrence of such Indebtedness;

  

	 	(2)	Guarantees by the Subsidiary Guarantors of Indebtedness Incurred in accordance with the provisions of this Indenture; provided that in the event such Indebtedness that is
being Guaranteed is a Subordinated Obligation or a Guarantor Subordinated Obligation, then the related Guarantee shall be subordinated in right of payment to the Subsidiary Guarantee; 

  

	 	(3)	Indebtedness of the Company owing to and held by any Wholly-Owned Subsidiary or Indebtedness of a Restricted Subsidiary owing to and held by the Company or any Wholly-Owned
Subsidiary, provided, however; 

  

	 	(a)	if the Company is the obligor on such Indebtedness, such Indebtedness is expressly subordinated to the prior payment in full in cash of all obligations with respect to the
Securities; 

  

	 	(b)	if a Subsidiary Guarantor is the obligor on such Indebtedness and the Company or a Subsidiary Guarantor is not the obligee, such Indebtedness is subordinated in right of payment to
the Subsidiary Guarantees of such Subsidiary Guarantor; and 

  

					
	 (c)
	 	(i)	  	any subsequent issuance or transfer of Capital Stock or any other event which results in any such Indebtedness being beneficially held by a Person other than the Company or a Wholly-Owned
Subsidiary of the Company; and
			
	 	 	(ii)	  	any sale or other transfer of any such Indebtedness to a Person other than the Company or a Wholly-Owned Subsidiary of the Company,

  
 shall be deemed, in
each case, to constitute an Incurrence of such Indebtedness by the Company or such Subsidiary, as the case may be; 
  

	 	(3)	Indebtedness represented by (a) the Securities issued on the Issue Date, the Subsidiary Guarantees and the Exchange Securities and Exchange Guarantees issued in an Exchange Offer,
(b) any Indebtedness (other than the Indebtedness described in clauses (1), (2), (3), (6), (8), (9) and (10)) outstanding on the Issue Date and (c) any Refinancing Indebtedness Incurred in respect of any Indebtedness described in this clause (4) or
clause (5) or Incurred pursuant to the first paragraph of this Section 3.3; 

  

	 	(4)	Indebtedness of a Subsidiary Guarantor Incurred and outstanding on the date on which such Subsidiary Guarantor was acquired by the Company (other than Indebtedness Incurred (a) to
provide all or any portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which such Subsidiary Guarantor became a Restricted Subsidiary or was otherwise acquired by the Company or (b) otherwise in
connection with, or in contemplation of, such acquisition); provided, however, that at the time such Restricted Subsidiary is acquired by the Company, the Company would have been able to Incur $1.00 of additional Indebtedness pursuant to the
first paragraph of this Section 3.3 giving effect to the Incurrence of such Indebtedness pursuant to this clause (5); 

  

	 	(5)	Indebtedness under Currency Agreements, Commodity Agreements and Interest Rate Agreements; provided, that such Agreements are entered into for bona fide hedging purposes of
the Company or its Restricted Subsidiaries (as determined in good faith by the Board of Directors or senior management of the Company) and, in the case of Currency Agreements or Commodity Agreements, such Currency Agreements or Commodity Agreements
are related to business transactions of the Company or its Restricted Subsidiaries entered into in the ordinary course of business and, in the case of Interest Rate Agreements, such Interest Rate Agreements substantially correspond in terms of
notional amount, duration and interest rates, as applicable, to Indebtedness of the Company or its Restricted Subsidiaries Incurred without violation of this Indenture; 

  

	 	(6)	the Incurrence by the Company or any of its Subsidiary Guarantors of Indebtedness represented by Capitalized Lease Obligations, mortgage financings or purchase money obligations
with respect to assets other than Capital Stock or other Investments, in each case Incurred for the purpose of financing all or any part of the purchase price or cost of construction or improvements of property used in the business of the Company or
such Subsidiary Guarantor, in an aggregate principal amount not to exceed $10.0 million at any time outstanding; 

  

	 	(7)	Indebtedness Incurred in respect of workers’ compensation claims, self-insurance obligations, bid, reimbursement, performance, surety and similar bonds and completion
guarantees provided by the Company or a Restricted Subsidiary in the ordinary course of business, including supporting Guarantees and letters of credit (in each case other than for an obligation for money borrowed); 

  

	 	(8)	Indebtedness arising from agreements of the Company or a Restricted Subsidiary providing for indemnification, adjustment of purchase price or similar obligations, in each case,
Incurred or assumed in connection with the disposition of any business, assets or Capital Stock of a Restricted Subsidiary, provided that the maximum aggregate liability in respect of all such Indebtedness shall at no time exceed the gross
proceeds actually received by the Company and its Restricted Subsidiaries in connection with such disposition; 

  

	 	(9)	Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument (except in the case of daylight overdrafts) drawn against
insufficient funds in the ordinary course of business, provided, however, that such Indebtedness is extinguished within five business days of Incurrence; and 

  

	 	(10)	in addition to the items referred to in clauses (1) through (10) above, Indebtedness of the Company and its Subsidiary Guarantors in an aggregate outstanding principal amount which,
when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause (11) and then outstanding, will not exceed $20.0 million at any time outstanding. 

  
 The Company will not Incur any Indebtedness under the preceding paragraph if
the proceeds thereof are used, directly or indirectly, to refinance any Subordinated Obligations of the Company unless such Indebtedness will be subordinated to the Securities to at least the same extent as such Subordinated Obligations. 

 
 No Subsidiary Guarantor will Incur any indebtedness if the proceeds
thereof are used, directly or indirectly, to refinance any Guarantor Subordinated Obligations of such Subsidiary Guarantor unless such Indebtedness will be subordinated to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee
to at least the same extent as such 

  

 
Guarantor Subordinated Obligations. No Restricted Subsidiary may Incur any Indebtedness if the proceeds are used to refinance Indebtedness of the Company.

  
 For purposes of determining compliance with, and the
outstanding principal amount of any particular Indebtedness Incurred pursuant to and in compliance with, this Section 3.3: 
  

	 	(1)	in the event that Indebtedness meets the criteria of more than one of the types of Indebtedness described in the first and second paragraphs of this Section 3.3, the Company,
in its sole discretion, will classify and may reclassify such item of Indebtedness and only be required to include the amount and type of such Indebtedness in one of such clauses; 

  

	 	(2)	all Indebtedness outstanding on the date of this Indenture under the Senior Secured Credit Agreement shall be deemed initially Incurred on the Issue Date under clause (1) of the
second paragraph of this Section 3.3 and not clause (4) of the second paragraph of this Section 3.3; 

  

	 	(3)	Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall
not be included; 

  

	 	(4)	if obligations in respect of letters of credit are Incurred pursuant to a Credit Facility and are being treated as Incurred pursuant to clause (1) of the second paragraph above and
the letters of credit relate to other Indebtedness, then such other Indebtedness shall not be included; 

  

	 	(5)	the principal amount of any Disqualified Stock of the Company or a Restricted Subsidiary, or Preferred Stock of a Restricted Subsidiary that is not a Subsidiary Guarantor, will be
equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption or repurchase premium) or the liquidation preference thereof; 

  

	 	(6)	Indebtedness permitted by this Section 3.3 need not be permitted solely by reference to one provision permitting such Indebtedness but may be permitted in part by one such
provision and in part by one or more other provisions of this Section 3.3 permitting such Indebtedness; and 

  

	 	(7)	the amount of Indebtedness issued at a price that is less than the principal amount thereof will be equal to the amount of the liability in respect thereof determined in accordance
with GAAP. 

  
 Accrual of interest, accrual of
dividends, the accretion of accreted value, the payment of interest in the form of additional Indebtedness and the payment of dividends in the form of additional shares of Preferred Stock or Disqualified Stock will not be deemed to be an Incurrence
of Indebtedness for purposes of this Section 3.3. The amount of any Indebtedness outstanding as of any date shall be (i) the accreted value thereof in the case of any Indebtedness 

  

 
issued with original issue discount and (ii) the principal amount or liquidation preference thereof, together with any interest thereon that is more than 30
days past due, in the case of any other Indebtedness. 
  
 In
addition, the Company will not permit any of its Unrestricted Subsidiaries to Incur any Indebtedness or issue any shares of Disqualified Stock, other than Non-Recourse Debt. If at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary,
any Indebtedness of such Subsidiary shall be deemed to be Incurred by a Restricted Subsidiary as of such date (and, if such Indebtedness is not permitted to be Incurred as of such date under this Section 3.3, the Company shall be in Default
of this Section 3.3). 
  
 For purposes of determining
compliance with any U.S. dollar-denominated restriction on the Incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate
in effect on the date such Indebtedness was Incurred, in the case of term Indebtedness, or first committed, in the case of revolving credit Indebtedness; provided that if such Indebtedness is Incurred to refinance other Indebtedness
denominated in a foreign currency, and such refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S.
dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. Notwithstanding any other provision
of this Section 3.3, the maximum amount of Indebtedness that the Company may Incur pursuant to this Section 3.3 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal
amount of any Indebtedness Incurred to refinance other Indebtedness, if Incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such
Refinancing Indebtedness is denominated that is in effect on the date of such refinancing. 
  
 SECTION 3.4. Limitation on Restricted Payments. The Company shall not, and shall not permit any of its Restricted Subsidiaries, directly or indirectly, to: 
  

	 	(1)	declare or pay any dividend or make any distribution on or in respect of its Capital Stock (including any payment in connection with any merger or consolidation involving the
Company or any of its Restricted Subsidiaries) except: 

  

	 	(a)	dividends or distributions payable in Capital Stock of the Company (other than Disqualified Stock) or in options, warrants or other rights to purchase such Capital Stock of the
Company; and 

  

	 	(b)	dividends or distributions payable to the Company or a Restricted Subsidiary (and if such Restricted Subsidiary is not a Wholly-Owned Subsidiary, to its other holders of common
Capital Stock on a pro rata basis); 

  

	 	(2)	purchase, redeem, retire or otherwise acquire for value any Capital Stock of the Company or any direct or indirect parent of the Company held by Persons other than the Company or a
Restricted Subsidiary (other than in exchange for Capital Stock of the Company (other than Disqualified Stock)); 

  

	 	(3)	purchase, repurchase, redeem, defease or otherwise acquire or retire for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment, any Subordinated
Obligations or Guarantor Subordinated Obligations (other than the purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations or Guarantor Subordinated Obligations purchased in anticipation of
satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of purchase, repurchase, redemption, defeasance or other acquisition or retirement); or 

  

	 	(4)	make any Restricted Investment in any Person; 

  
 (any such dividend, distribution, purchase, redemption, repurchase, defeasance, other acquisition, retirement or Restricted Investment referred to in clauses (1) through
(4) shall be referred to herein as a “Restricted Payment”), if at the time the Company or such Restricted Subsidiary makes such Restricted Payment: 
  

	 	(a)	a Default shall have occurred and be continuing (or would result therefrom); or 

  

	 	(b)	the Company is not able to Incur an additional $1.00 of Indebtedness pursuant to the first paragraph of Section 3.3 after giving effect, on a pro forma basis, to such
Restricted Payment; or 

  

	 	(c)	the aggregate amount of such Restricted Payment and all other Restricted Payments declared or made subsequent to the Issue Date would exceed the sum of: 

  

	 	(i)	50% of Consolidated Net Income for the period (treated as one accounting period) from the beginning of the first fiscal quarter commencing after the Issue Date to the end of the
most recent fiscal quarter ending prior to the date of such Restricted Payment for which financial statements are in existence (or, in case such Consolidated Net Income is a deficit, minus 100% of such deficit); 

  

	 	(ii)	 100% of the aggregate Net Cash Proceeds received by the Company from the issue or sale of its Capital Stock (other than Disqualified Stock) or other capital
contributions subsequent to the Issue Date (other than Net Cash Proceeds received from an issuance or sale of such Capital Stock to a Subsidiary of the Company or an employee stock 

  

	 	 
ownership plan, option plan or similar trust to the extent such sale to an employee stock ownership plan, option plan or similar trust is financed by loans
from or Guaranteed by the Company or any Restricted Subsidiary unless such loans have been repaid with cash on or prior to the date of determination); 

  

	 	(iii)	the amount by which Indebtedness of the Company or its Restricted Subsidiaries is reduced on the Company’s balance sheet upon the conversion or exchange (other than by a
Subsidiary of the Company) subsequent to the Issue Date of any Indebtedness of the Company or its Restricted Subsidiaries convertible or exchangeable for Capital Stock (other than Disqualified Stock) of the Company (less the amount of any cash, or
the fair market value of any other property, distributed by the Company upon such conversion or exchange); and 

  

	 	(iv)	the amount equal to the net reduction in Restricted Investments made by the Company or any of its Restricted Subsidiaries in any Person resulting from: 

  

	 	(A)	repurchases or redemptions of such Restricted Investments by such Person, proceeds realized upon the sale of such Restricted Investment to an unaffiliated purchaser, repayments of
loans or advances or other transfers of assets (including by way of dividend or distribution) by such Person to the Company or any Restricted Subsidiary; or 

  

	 	(B)	the redesignation of Unrestricted Subsidiaries as Restricted Subsidiaries (valued in each case as provided in the definition of “Investment”) not to exceed, in the case of
any Unrestricted Subsidiary, the amount of Investments previously made by the Company or any Restricted Subsidiary in such Unrestricted Subsidiary, 

  
 which amount in each case under this clause (iv) was included in the calculation of the amount of Restricted Payments;
provided, however, that no amount will be included under this clause (iv) to the extent it is already included in Consolidated Net Income. 
  

 The provisions of the preceding paragraph will not prohibit: 
  

	 	(1)	any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Capital Stock, Disqualified Stock or Subordinated Obligations of the Company or Guarantor
Subordinated Obligations of any Subsidiary Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, Capital Stock of the Company (other than Disqualified Stock and other than Capital Stock issued or sold to a
Subsidiary or an employee stock ownership plan or similar trust to the extent such sale to an employee stock ownership plan or similar trust is financed by loans from or Guaranteed by the Company or any Restricted Subsidiary unless such loans have
been repaid with cash on or prior to the date of determination); provided, however, that (a) such purchase, repurchase, redemption, defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of Restricted
Payments and (b) the Net Cash Proceeds from such sale of Capital Stock will be excluded from clause (c)(ii) of the preceding paragraph; 

  

	 	(2)	any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations of the Company or Guarantor Subordinated Obligations of any
Subsidiary Guarantor or of any of its Restricted Subsidiaries made by exchange for, or out of the proceeds of the substantially concurrent sale of, Subordinated Obligations of the Company or any purchase, repurchase, redemption, defeasance or other
acquisition or retirement of Guarantor Subordinated Obligations made by exchange for or out of the proceeds of the substantially concurrent sale of Guarantor Subordinated Obligations that, in each case, is permitted to be Incurred pursuant to
Section 3.3 and that in each case constitutes Refinancing Indebtedness; provided, however, that such purchase, repurchase, redemption, defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of
Restricted Payments; 

  

	 	(3)	any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Disqualified Stock of the Company or a Restricted Subsidiary made by exchange for or out of
the proceeds of the substantially concurrent sale of Disqualified Stock of the Company or such Restricted Subsidiary, as the case may be, that, in each case, is permitted to be Incurred pursuant to Section 3.3 and that in each case
constitutes Refinancing Indebtedness; provided, however, that such purchase, repurchase, redemption, defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of Restricted Payments;

  

	 	(4)	so long as no Default or Event of Default has occurred and is continuing, any purchase or redemption of Subordinated Obligations or Guarantor Subordinated Obligations of a
Subsidiary Guarantor from Net Available Cash to the extent permitted under Section 3.8; provided, however, that such purchase or redemption will be excluded in subsequent calculations of the amount of Restricted Payments;

  

	 	(5)	dividends paid within 60 days after the date of declaration if at such date of declaration such dividend would have complied with this provision; provided, however, that such
dividends will be included in subsequent calculations of the amount of Restricted Payments; 

  

	 	(6)	so long as no Default or Event of Default has occurred and is continuing, 

  

	 	(a)	the purchase, redemption or other acquisition, cancellation or retirement for value of Capital Stock, or options, warrants, equity appreciation rights or other rights to purchase or
acquire Capital Stock of the Company or any Restricted Subsidiary held by any existing or former employees or management of the Company or any Subsidiary of the Company or their assigns, estates or heirs, in each case in connection with the
repurchase provisions under employee stock option or stock purchase agreements or other agreements to compensate management employees; provided that such redemptions or repurchases pursuant to this clause will not exceed $1.0 million in the
aggregate during any calendar year and $3.0 million in the aggregate for all such redemptions and repurchases; provided, however, that the amount of any such repurchase or redemption will be included in subsequent calculations of the amount
of Restricted Payments; and 

  

	 	(b)	loans or advances to employees or directors of the Company or any Subsidiary of the Company the proceeds of which are used to purchase Capital Stock of the Company, in an aggregate
amount not in excess of $1.0 million at any one time outstanding; provided, however, that the Company and its Subsidiaries will comply in all material respects with all applicable provisions of the Sarbanes-Oxley Act of 2002 and the rules and
regulations promulgated in connection therewith in connection with such loans or advances; provided, further, that the amount of such loans and advances will be included in subsequent calculations of the amount of Restricted Payments;

  

	 	(7)	so long as no Default or Event of Default has occurred and is continuing, the declaration and payment of dividends to holders of any class or series of Disqualified Stock of the
Company issued in accordance with the terms of this Indenture to the extent such dividends are included in the definition of “Consolidated Interest Expense”; provided, however, that the payment of such dividends will be excluded
from the calculation of Restricted Payments; 

  

	 	(8)	 repurchases of Capital Stock deemed to occur upon the exercise of stock options, warrants or other convertible securities if such Capital Stock represents a portion
of the exercise price thereof; provided, however, that 

  

	 	 
such repurchases will be excluded from subsequent calculations of the amount of Restricted Payments; 

  

	 	(9)	the purchase, repurchase, redemption, defeasance or other acquisition or retirement for value of any Subordinated Obligation (i) at a purchase price not greater than 101% of the
principal amount of such Subordinated Obligation in the event of a Change of Control in accordance with provisions similar to those of Section 3.10 or (ii) at a purchase price not greater than 100% of the principal amount thereof in
accordance with provisions similar to those of Section 3.8; provided, that, prior to or simultaneously with such purchase, repurchase, redemption, defeasance or other acquisition or retirement, the Company has made the Change of
Control Offer or Asset Disposition Offer, as applicable, as provided in Section 3.10 with respect to the Securities and has completed the repurchase or redemption of all Securities validly tendered for payment in connection with such Change
of Control Offer or Asset Disposition Offer; and provided, further, that such repurchases will be excluded from subsequent calculations of the amount of Restricted Payments; and 

  

	 	(10)	Restricted Payments in an amount not to exceed $5.0 million at any one time outstanding; provided that the amount of such Restricted Payments will be included in subsequent
calculations of the amount of Restricted Payments. 

  
 The amount of all Restricted Payments (other than cash) shall be the fair market value on the date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred or issued by the Company or such Restricted
Subsidiary, as the case may be, pursuant to such Restricted Payment. The fair market value of any cash Restricted Payment shall be its face amount and the fair market value of any non-cash Restricted Payment shall be determined conclusively by the
Board of Directors of the Company acting in good faith whose resolution with respect thereto shall be delivered to the Trustee, such determination to be based upon an opinion or appraisal issued by an accounting, appraisal or investment banking firm
of national standing if such fair market value is estimated in good faith by the Board of Directors of the Company to exceed $10.0 million. Not later than the date of making any Restricted Payment, the Company shall deliver to the Trustee an
Officers’ Certificate stating that such Restricted Payment is permitted and setting forth the basis upon which the calculations required by Section 3.4 were computed, together with a copy of any fairness opinion or appraisal required by
this Indenture. 
  
 SECTION 3.5. Limitation on Liens. The
Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any Lien (other than Permitted Liens) upon any of its property or assets (including Capital Stock of Restricted
Subsidiaries), whether owned on the date of this Indenture or acquired after that date, which Lien is securing any Indebtedness, unless contemporaneously with the Incurrence of such Liens effective provision is made to secure the Indebtedness due
under this Indenture and the Securities or, in respect of Liens on any Restricted Subsidiary’s property or assets, any Subsidiary Guarantee of such Restricted Subsidiary, equally and ratably with (or prior to in the 

  

 
case of Liens with respect to Subordinated Obligations or Guarantor Subordinated Obligations, as the case may be) the Indebtedness secured by such Lien for
so long as such Indebtedness is so secured. 
  
 SECTION 3.6.
Limitation on Sale/Leaseback Transactions. The Company shall not, and shall not permit any of its Restricted Subsidiaries to, enter into any Sale/Leaseback Transaction unless: 
  

	 	(1)	the Company or such Restricted Subsidiary, as the case may be, receives consideration at the time of such Sale/Leaseback Transaction at least equal to the fair market value (as
evidenced by a resolution of the Board of Directors of the Company) of the property subject to such transaction; 

  

	 	(2)	the Company or such Restricted Subsidiary could have Incurred Indebtedness in an amount equal to the Attributable Indebtedness in respect of such Sale/Leaseback Transaction pursuant
to Section 3.3; 

  

	 	(3)	the Company or such Restricted Subsidiary would be permitted to create a Lien on the property subject to such Sale/Leaseback Transaction without securing the Securities by
Section 3.5; and 

  

	 	(4)	the Sale/Leaseback Transaction is treated as an Asset Disposition and all of the conditions of Section 3.8 (including the provisions concerning the application of Net
Available Cash) are satisfied with respect to such Sale/Leaseback Transaction, treating all of the consideration received in such Sale/Leaseback Transaction as Net Available Cash for purposes of such covenant. 

  
 SECTION 3.7. Limitation on Restrictions on Distributions from Restricted
Subsidiaries. The Company shall not, and shall not permit any Restricted Subsidiary to, create or otherwise cause or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted
Subsidiary to: 
  

	 	(1)	pay dividends or make any other distributions on its Capital Stock or pay any Indebtedness or other obligations owed to the Company or any Restricted Subsidiary (it being understood
that the priority of any Preferred Stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on Common Stock shall not be deemed a restriction on the ability to make distributions on Capital
Stock); 

  

	 	(2)	make any loans or advances to the Company or any Restricted Subsidiary (it being understood that the subordination of loans or advances made to the Company or any Restricted
Subsidiary to other Indebtedness Incurred by the Company or any Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances); or 

  

	 	(3)	transfer any of its property or assets to the Company or any Restricted Subsidiary. 

  
 The preceding provisions will not prohibit: 
  

	 	(i)	any encumbrance or restriction pursuant to an agreement in effect at or entered into on the Issue Date, including, without limitation, this Indenture and the Senior Secured Credit
Agreement in effect on such date; 

  

	 	(ii)	any encumbrance or restriction with respect to a Restricted Subsidiary pursuant to an agreement relating to any Capital Stock or Indebtedness Incurred by a Restricted Subsidiary on
or before the date on which such Restricted Subsidiary was acquired by the Company (other than Capital Stock or Indebtedness Incurred as consideration in, or to provide all or any portion of the funds utilized to consummate, the transaction or
series of related transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was acquired by the Company or in contemplation of the transaction) and outstanding on such date provided, that any such encumbrance
or restriction shall not extend to any assets or property of the Company or any other Restricted Subsidiary other than the assets and property so acquired; 

  

	 	(iii)	any encumbrance or restriction with respect to a Restricted Subsidiary pursuant to an agreement effecting a refunding, replacement or refinancing of Indebtedness Incurred pursuant
to an agreement referred to in clause (i) or (ii) of this paragraph or this clause (iii) or contained in any amendment to an agreement referred to in clause (i) or (ii) of this paragraph or this clause (iii); provided, however, that the
encumbrances and restrictions with respect to such Restricted Subsidiary contained in any such agreement are no less favorable in any material respect to the Holders of the Securities than the encumbrances and restrictions contained in such
agreements referred to in clauses (i)or (ii) of this paragraph on the Issue Date or the date such Restricted Subsidiary became a Restricted Subsidiary, whichever is applicable; 

  

	 	(iv)	in the case of clause (3) of the first paragraph of this Section 3.7, any encumbrance or restriction: 

  

	 	(a)	that restricts in a customary manner the subletting, assignment or transfer of any property or asset that is subject to a lease, license or similar contract, or the assignment or
transfer of any such lease, license or other contract; 

  

	 	(b)	 contained in mortgages, pledges or other security agreements permitted under this Indenture securing Indebtedness of the Company or a Restricted Subsidiary to the
extent such 

  

	 	 
encumbrances or restrictions restrict the transfer of the property subject to such mortgages, pledges or other security agreements; or

  

	 	(c)	pursuant to customary provisions restricting dispositions of real property interests set forth in any reciprocal easement agreements of the Company or any Restricted Subsidiary;

  

	 	(v)	purchase money obligations for property acquired in the ordinary course of business and (b) Capitalized Lease Obligations permitted under this Indenture, in each case, that impose
encumbrances or restrictions of the nature described in clause (3) of the first paragraph of this Section 3.7 on the property so acquired; 

  

	 	(vi)	any restriction with respect to a Restricted Subsidiary (or any of its property or assets) imposed pursuant to an agreement entered into for the direct or indirect sale or
disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary (or the property or assets that are subject to such restriction) pending the closing of such sale or disposition; 

  

	 	(vii)	customary encumbrances or restrictions imposed pursuant to any agreement referred to in the definition of “Permitted Business Investment”; 

  

	 	(viii)	net worth provisions in leases and other agreements entered into by the Company or any Restricted Subsidiary in the ordinary course of business; and 

  

	 	(ix)	encumbrances or restrictions arising or existing by reason of applicable law or any applicable rule, regulation or order. 

  
 SECTION 3.8. Limitation on Sales of Assets and Subsidiary Stock. (a)
The Company shall not, and shall not permit any of its Restricted Subsidiaries to, make any Asset Disposition unless: 
  

	 	(1)	the Company or such Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Disposition at least equal to the fair market value (such fair market
value to be determined on the date of contractually agreeing to such Asset Disposition), as determined in good faith by the Board of Directors (including as to the value of all non-cash consideration), of the shares and assets subject to such Asset
Disposition; 

  

	 	(2)	at least 75% of the consideration from such Asset Disposition received by the Company or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents;
and 

  

	 	(3)	an amount equal to 100% of the Net Available Cash from such Asset Disposition is applied by the Company or such Restricted Subsidiary, as the case may be: 

 

	 	(a)	first, to the extent the Company or any Restricted Subsidiary, as the case may be, elects (or is required by the terms of any Indebtedness), to prepay, repay or purchase
Indebtedness of the Company (other than any Disqualified Stock or Subordinated Obligations) or Indebtedness of a Wholly-Owned Subsidiary (other than any Disqualified Stock or a Guarantor Subordinated Obligation of a Wholly-Owned Subsidiary
Guarantor) (in each case other than Indebtedness owed to the Company or an Affiliate of the Company) within 360 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; provided, however, that, in
connection with any prepayment, repayment or purchase of Indebtedness pursuant to this clause (a), the Company or such Restricted Subsidiary will retire such Indebtedness and will cause the related commitment (if any) to be permanently reduced in an
amount equal to the principal amount so prepaid, repaid or purchased; and 

  

	 	(b)	second, to the extent of the balance of such Net Available Cash after application in accordance with clause (a), to the extent the Company or such Restricted Subsidiary
elects, to invest in Additional Assets within 360 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; 

  
 provided that pending the final application of any such Net Available Cash in accordance with clauses (a) or (b)
above, the Company and its Restricted Subsidiaries may temporarily reduce Indebtedness or otherwise invest such Net Available Cash in any manner not prohibited by this Indenture. 
  
 (b) Any Net Available Cash from Asset Dispositions that is not applied or invested as provided in the preceding paragraph
will be deemed to constitute “Excess Proceeds.” On the 361st day after an Asset Disposition, if the
aggregate amount of Excess Proceeds exceeds $10.0 million, the Company will be required to make an offer (“Asset Disposition Offer”) to all Holders of Securities and to the extent required by the terms of other Pari Passu
Indebtedness, to all holders of other Pari Passu Indebtedness outstanding with similar provisions requiring the Company to make an offer to purchase such Pari Passu Indebtedness with the proceeds from any Asset Disposition (“Pari Passu
Notes”), to purchase the maximum principal amount of Securities and any such Pari Passu Notes to which the Asset Disposition Offer applies that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to
100% of the principal amount of the Securities and Pari Passu Notes plus accrued and unpaid interest to the date of purchase, in accordance with the procedures set forth in this Indenture or the agreements governing the Pari Passu Notes, as
applicable, in each case in integral multiples of $1,000. To the extent that the aggregate amount of Securities and Pari Passu Notes so validly tendered and not 

  

 
properly withdrawn pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for general
corporate purposes, subject to the other covenants contained in this Indenture. If the aggregate principal amount of Securities surrendered by Holders thereof and other Pari Passu Notes surrendered by holders or lenders, collectively, exceeds the
amount of Excess Proceeds, the Trustee shall select the Securities to be purchased on a pro rata basis on the basis of the aggregate principal amount of tendered Securities and Pari Passu Notes. Upon completion of such Asset Disposition Offer, the
amount of Excess Proceeds shall be reset at zero. 
  
 (c) (1) The
Asset Disposition Offer will remain open for a period of 20 Business Days following its commencement, except to the extent that a longer period is required by applicable law (the “Asset Disposition Offer Period”). No later than five
Business Days after the termination of the Asset Disposition Offer Period (the “Asset Disposition Purchase Date”), the Company will purchase the principal amount of Securities and Pari Passu Notes required to be purchased pursuant
to this Section 3.8 (the “Asset Disposition Offer Amount”) or, if less than the Asset Disposition Offer Amount has been so validly tendered, all Securities and Pari Passu Notes validly tendered in response to the Asset
Disposition Offer. 
  
 (2) If the Asset Disposition Purchase Date
is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest will be paid to the Person in whose name a Security is registered at the close of business on such record date, and no
additional interest will be payable to Holders of the Securities who tender Securities pursuant to the Asset Disposition Offer. 
  
 (3) On or before the Asset Disposition Purchase Date, the Company will, to the extent lawful, accept for payment, on a pro rata basis to the extent
necessary, the Asset Disposition Offer Amount of Securities and Pari Passu Notes or portions of Securities and Pari Passu Notes so validly tendered and not properly withdrawn pursuant to the Asset Disposition Offer, or if less than the Asset
Disposition Offer Amount has been validly tendered and not properly withdrawn, all Securities and Pari Passu Notes so validly tendered and not properly withdrawn, in each case in integral multiples of $1,000. The Company will deliver to the Trustee
an Officers’ Certificate stating that such Securities or portions thereof were accepted for payment by the Company in accordance with the terms of this Section 3.8 and, in addition, the Company will deliver all certificates and notes
required, if any, by the agreements governing the Pari Passu Notes. The Company or the Paying Agent, as the case may be, will promptly (but in any case not later than five Business Days after the termination of the Asset Disposition Offer Period)
mail or deliver to each tendering Holder of Securities or holder or lender of Pari Passu Notes, as the case may be, an amount equal to the purchase price of the Securities or Pari Passu Notes so validly tendered and not properly withdrawn by such
holder or lender, as the case may be, and accepted by the Company for purchase, and the Company will promptly issue a new Security, and the Trustee, upon delivery of an Officers’ Certificate from the Company, will authenticate and mail or
deliver such new Security to such Holder, in a principal amount equal to any unpurchased portion of the Security surrendered; provided that each such new Security will be in a principal amount of $1,000 or an integral multiple of $1,000. In
addition, the Company will take any and all other actions required by the agreements governing the Pari Passu Notes. Any Security not so accepted will be promptly mailed or delivered by the Company to the 

  

 
Holder thereof. The Company will publicly announce the results of the Asset Disposition Offer on the Asset Disposition Purchase Date. 
  
 For the purposes of this Section 3.8, the following will be deemed to
be cash: 
  

	 	(1)	the assumption by the transferee of Indebtedness (other than Subordinated Obligations or Disqualified Stock) of the Company or Indebtedness of a Wholly-Owned Subsidiary (other than
Guarantor Subordinated Obligations or Disqualified Stock of any Wholly-Owned Subsidiary that is a Subsidiary Guarantor) and the release of the Company or such Restricted Subsidiary from all liability on such Indebtedness in connection with such
Asset Disposition (in which case the Company will, without further action, be deemed to have applied such deemed cash to Indebtedness in accordance with clause (3)(a) above); and 

  

	 	(2)	securities, notes or other obligations received by the Company or any Restricted Subsidiary from the transferee that are promptly converted by the Company or such Restricted
Subsidiary into cash. 

  
 The Company will not, and
will not permit any Restricted Subsidiary to, engage in any Asset Swaps, unless: 
  

	 	(1)	at the time of entering into such Asset Swap and immediately after giving effect to such Asset Swap, no Default or Event of Default shall have occurred and be continuing or would
occur as a consequence thereof; 

  

	 	(2)	in the event such Asset Swap involves the transfer by the Company or any Restricted Subsidiary of assets having an aggregate fair market value, as determined by the Board of
Directors of the Company in good faith, in excess of $5.0 million, the terms of such Asset Swap have been approved by a majority of the members of the Board of Directors of the Company; and 

  

	 	(3)	in the event such Asset Swap involves the transfer by the Company or any Restricted Subsidiary of assets having an aggregate fair market value, as determined by the Board of
Directors of the Company in good faith, in excess of $15.0 million, the Company has received a written opinion from an independent investment banking firm of nationally recognized standing that such Asset Swap is fair to the Company or such
Restricted Subsidiary, as the case may be, from a financial point of view. 

  
 (d) The Company will comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Securities pursuant
to this Section 3.8. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 3.8, the Company will comply with the applicable securities laws and regulations and will not be
deemed to have breached its obligations under this Indenture by virtue of any conflict. 
  

 SECTION 3.9. Limitation on Affiliate Transactions. The Company shall not, and shall not permit any
of its Restricted Subsidiaries to, directly or indirectly, enter into or conduct any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the Company (an
“Affiliate Transaction”) unless: 
  

	 	(1)	the terms of such Affiliate Transaction are no less favorable to the Company or such Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable
transaction at the time of such transaction in arm’s-length dealings with a Person who is not such an Affiliate; 

  

	 	(2)	in the event such Affiliate Transaction involves an aggregate consideration in excess of $5.0 million, the terms of such transaction have been approved by a majority of the members
of the Board of Directors of the Company and by a majority of the members of such Board having no personal stake in such transaction, if any (and such majority or majorities, as the case may be, determines that such Affiliate Transaction satisfies
the criteria in clause (1) above); and 

  

	 	(3)	in the event such Affiliate Transaction involves an aggregate consideration in excess of $15.0 million, the Company has received a written opinion from an independent investment
banking, accounting or appraisal firm of nationally recognized standing that such Affiliate Transaction is not materially less favorable than those that might reasonably have been obtained in a comparable transaction at such time on an
arm’s-length basis from a Person that is not an Affiliate. 

  
 The preceding paragraph will not apply to: 
  

	 	(1)	any Restricted Payment (other than a Restricted Investment) permitted to be made pursuant to Section 3.4; 

  

	 	(2)	any issuance of securities, or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment agreements and other compensation
arrangements, options to purchase Capital Stock of the Company, restricted stock plans, long-term incentive plans, stock appreciation rights plans, participation plans or similar employee benefits plans and/or indemnity provided on behalf of
officers and employees and approved by the Board of Directors; 

  

	 	(3)	 loans or advances to employees, officers or directors in the ordinary course of business of the Company or any of its Restricted Subsidiaries but in any event not
to exceed $1.0 million in the aggregate outstanding at any one time with respect to all loans or advances made since the Issue Date, provided, however, that the Company and its Subsidiaries will comply in all material respects with all
applicable provisions of the 

  

	 	 
Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith in connection with such loans or advances;

  

	 	(4)	any transaction between the Company and a Restricted Subsidiary or between Restricted Subsidiaries and Guarantees issued by the Company or a Restricted Subsidiary for the benefit of
the Company or a Restricted Subsidiary, as the case may be, in accordance with Section 3.3; 

  

	 	(5)	the payment of reasonable and customary fees paid to, and indemnity provided on behalf of, directors of the Company or any Restricted Subsidiary; 

  

	 	(6)	the performance of obligations of the Company or any of its Restricted Subsidiaries under the terms of any agreement to which the Company or any of its Restricted Subsidiaries is a
party as of or on the Issue Date and identified on Schedule 3.9, as these agreements may be amended, modified, supplemented, extended or renewed from time to time; provided, however, that any future amendment, modification, supplement,
extension or renewal entered into after the Issue Date will be permitted to the extent that its terms are not more disadvantageous to the Holders of the Securities than the terms of the agreements in effect on the Issue Date; and

  

	 	(7)	the provision of drilling services by Big Dog or a successor entity to the Company or any of its Restricted Subsidiaries so long as the terms of such Affiliate Transaction are no
less favorable to the Company or such Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable transaction at the time of such transaction in arm’s-length dealings with a Person who is not such an Affiliate.

  
 SECTION 3.10. Change of Control. (a) If a
Change of Control occurs, each Holder of Securities will have the right to require the Company to repurchase all or any part (equal to $1,000 or an integral multiple thereof) of such Holder’s Securities at a purchase price in cash equal to 101%
of the principal amount of the Securities plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date);
provided, however, that notwithstanding the foregoing, the Company shall not be obligated to repurchase the Securities pursuant to this Section 3.10 if the Company has exercised its right to redeem all of the Securities pursuant to the
terms of Section 5.1. 
  
 (b) Within 30 days following any
Change of Control, the Company will mail a notice (the “Change of Control Offer”) to each Holder, with a copy to the Trustee, stating: 
  

	 	(1)	 that a Change of Control has occurred and that such Holder has the right to require the Company to purchase such Holder’s Securities at a purchase price in
cash equal to 101% of the principal amount of such Securities plus accrued and unpaid interest, if any, to the date of purchase (subject to the 

  

	 	 
right of Holders of record on a record date to receive interest on the relevant interest payment date) (the “Change of Control Payment”);

  

	 	(2)	the repurchase date (which shall be no earlier than 30 days nor later than 60 days from the date such notice is mailed) (the “Change of Control Payment Date”); and

  

	 	(3)	the procedures determined by the Company, consistent with this Indenture, that a Holder must follow in order to have its Securities repurchased. 

  
 (c) On the Change of Control Payment Date, the Company will, to the extent
lawful: 
  

	 	(1)	accept for payment all Securities or portions of Securities (in integral multiples of $1,000) properly tendered pursuant to the Change of Control Offer; 

  

	 	(2)	deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Securities or portions of Securities so tendered; and 

  

	 	(3)	deliver or cause to be delivered to the Trustee the Securities so accepted together with an Officers’ Certificate stating the aggregate principal amount of Securities or
portions of Securities being purchased by the Company. 

  
 (d) The Paying Agent will promptly mail to each Holder of Securities so tendered the Change of Control Payment for such Securities, and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each
Holder a new Security equal in principal amount to any unpurchased portion of the Securities surrendered, if any; provided that each such new Security will be in a principal amount of $1,000 or an integral multiple thereof. 
  
 (e) If the Change of Control Payment Date is on or after an interest record
date and on or before the related interest payment date, any accrued and unpaid interest will be paid to the Person in whose name a Security is registered at the close of business on such record date, and no additional interest will be payable to
Holders who tender pursuant to the Change of Control Offer. 
  
 (f) In the event that any issue of Indebtedness issued under an indenture or other agreement may be violated by the payment of the Change of Control Offer, the Company covenants to effect repayment of such Indebtedness or obtain from the
holders of such Indebtedness consent and waivers of any event of default within 30 days following any Change of Control, it being a Default of this Section 3.10 if the Company fails to comply with such covenant. 
  

 (g) The Company will not be required to make a Change of Control Offer upon a Change of Control if a
third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Company and purchases all Securities validly
tendered and not withdrawn under such Change of Control Offer. 
  
 (h) The Company will comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Securities pursuant to this Section
3.10. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Indenture, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its
obligations described in this Indenture by virtue of the conflict. 
  
 SECTION 3.11. Limitation on Sale of Capital Stock of Restricted Subsidiaries. The Company shall not, and shall not permit any Restricted Subsidiary to, transfer, convey, sell, lease or otherwise dispose of any Voting Stock of any
Restricted Subsidiary or to issue any of the Voting Stock of a Restricted Subsidiary (other than, if necessary, shares of its Voting Stock constituting directors’ qualifying shares) to any Person except: 
  

	 	(1)	to the Company or a Wholly-Owned Restricted Subsidiary; or 

  

	 	(2)	in compliance with Section 3.8 and immediately after giving effect to such issuance or sale, such Restricted Subsidiary would continue to be a Restricted Subsidiary.

  
 Notwithstanding the preceding paragraph, the
Company or any Restricted Subsidiary may sell all the Voting Stock of a Restricted Subsidiary as long as the Company complies with the terms of Section 3.8. 
  
 SECTION 3.12. Future Subsidiary Guarantors. After the Issue Date, the Company will cause each Restricted Subsidiary
other than a Foreign Subsidiary created or acquired by the Company or one or more of its Restricted Subsidiaries to execute and deliver to the Trustee a Subsidiary Guarantee pursuant to which such Subsidiary Guarantor will unconditionally Guarantee,
on a joint and several basis, the full and prompt payment of the principal of, premium, if any and interest on the Securities on a senior basis. 
  
 SECTION 3.13. Limitation on Lines of Business. The Company shall not, and shall not permit any Restricted Subsidiary to, engage in any business
other than the Oil and Gas Business. 
  
 SECTION 3.14.
Maintenance of Office or Agency. The Company will maintain in The City of New York, an office or agency where the Securities may be presented or surrendered for payment, where, if applicable, the Securities may be surrendered for registration
of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will give prompt written notice to the Trustee of any change in the location of any such office
or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be 

  

 
made or served at the trustee’s principal corporate trust office (the “Corporate Trust Office”), and the Company hereby appoints the Trustee
as its agent to receive all such presentations, surrenders, notices and demands. 
  
 The Company may also from time to time designate one or more other offices or agencies (in or outside of The City of New York) where the Securities may be presented or surrendered for any or all such purposes and may
from time to time rescind any such designation; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in The City of New York for such purposes. The
Company will give prompt written notice to the Trustee of any such designation or rescission and any change in the location of any such other office or agency. 
  

SECTION 3.15. Corporate Existence. Subject to Article IV and Section 10.2, the Company and each of the Subsidiary Guarantors will
do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and that of each Restricted Subsidiary and the corporate rights (charter and statutory) licenses and franchises of the Company and each
Restricted Subsidiary; provided, however, that the Company shall not be required to preserve any such existence (except the Company), right, license or franchise if the Board of Directors of the Company shall determine that the preservation
thereof is no longer desirable in the conduct of the business of the Company and each of its Restricted Subsidiaries, taken as a whole, and that the loss thereof would not have a material adverse effect on the ability of the Company to perform its
obligations under the Securities or this Indenture, provided, further, the Company may merge in accordance with Sections 4.1 and 10.2. 
  
 SECTION 3.16. Payment of Taxes and Other Claims. The Company will pay or discharge or cause to be paid or discharged, before the same shall become
delinquent, (i) all material taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary and (ii) all lawful claims for labor, materials
and supplies, which, if unpaid, might by law become a material liability or lien upon the property of the Company or any Restricted Subsidiary, except for any Lien permitted to be incurred pursuant to subsections (3) and (4) of the definition of
“Permitted Liens”; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested
in good faith by appropriate proceedings and for which appropriate reserves, if necessary (in the good faith judgment of management of the Company), are being maintained in accordance with GAAP or where the failure to pay or discharge the same would
not have a material adverse effect on the ability of the Company to perform its obligations under the Securities or this Indenture. 
  
 SECTION 3.17. Payments for Consent. Neither the Company nor any of its Restricted Subsidiaries will, directly or indirectly, pay or cause to be
paid any consideration, whether by way of interest, fees or otherwise, to any Holder of any Securities for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Securities unless such
consideration is offered to be paid or is paid to all Holders of the Securities that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or amendment. 
  

 SECTION 3.18. Compliance Certificate. The Company shall deliver to the Trustee within 120 days
after the end of each fiscal year of the Company an Officers’ Certificate stating that in the course of the performance by the signers of their duties as Officers of the Company they would normally have knowledge of any Default or Event of
Default and whether or not the signers know of any Default or Event of Default that occurred during such period. If they do, the certificate shall describe the Default or Event of Default, its status and what action the Company is taking or proposes
to take with respect thereto. The Company also shall comply with TIA § 314(a)(4). 
  
 SECTION 3.19. Further Instruments and Acts. Upon the reasonable request of the Trustee, the Company will execute and deliver such further instruments and do such further acts as may be reasonably necessary or
proper to carry out more effectively the purpose of this Indenture. 
  
 SECTION 3.20. Statement by Officers as to Default. The Company shall deliver to the Trustee, as soon as possible and in any event within thirty days after the Company becomes aware of the occurrence of any Event of Default or an
event which, with notice or the lapse of time or both, would constitute an Event of Default, an Officers’ Certificate setting forth the details of such Event of Default or default and the action which the Company is taking or proposing to take
with respect thereto. 
  
 ARTICLE IV 
  
 Successor Company 
  
 SECTION 4.1. Merger and Consolidation. The Company will not
consolidate with or merge with or into, or convey, transfer or lease all or substantially all its assets to, any Person, unless: 
  

	 	(1)	the resulting, surviving or transferee Person (the “Successor Company”) will be a corporation organized and existing under the laws of the United States of America,
any State of the United States or the District of Columbia and the Successor Company (if not the Company) will expressly assume, by supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the
obligations of the Company under the Securities and this Indenture; 

  

	 	(2)	immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the Successor Company or any Subsidiary of the Successor Company as
a result of such transaction as having been Incurred by the Successor Company or such Subsidiary at the time of such transaction), no Default or Event of Default shall have occurred and be continuing; 

  

	 	(3)	immediately after giving effect to such transaction, the Successor Company would be able to Incur at least an additional $1.00 of Indebtedness pursuant to the first paragraph of
Section 3.3; 

  

	 	(4)	each Subsidiary Guarantor (unless it is the other party to the transactions above, in which case clause (1) shall apply) shall have by supplemental indenture confirmed that its
Subsidiary Guarantee shall apply to such Person’s obligations in respect of this Indenture and the Securities and its obligations under the Registration Rights Agreement shall continue to be in effect; and 

  

	 	(5)	the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such
supplemental indenture (if any) comply with this Indenture. 

  
 For purposes of this Section 4.1, the sale, lease, conveyance, assignment, transfer, or other disposition of all or substantially all of the properties and assets of one or more Subsidiaries of the Company,
which properties and assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the transfer of all or
substantially all of the properties and assets of the Company. 
  
 The Successor Company will succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture, but, in the case of a lease of all or substantially all its assets, the predecessor Company will not
be released from the obligation to pay the principal of and interest on the Securities. 
  
 Notwithstanding the preceding clause (3), (x) any Restricted Subsidiary may consolidate with, merge into or transfer all or part of its properties and assets to the Company and (y) the Company may merge with an
Affiliate incorporated solely for the purpose of reincorporating the Company in another jurisdiction to realize tax benefits; provided that, in the case of a Restricted Subsidiary that merges into the Company, the Company will not be required
to comply with the preceding clause (5). 
  
 In addition, the
Company will not permit any Subsidiary Guarantor to consolidate with or merge with or into any person (other than another Subsidiary Guarantor) and will not permit the conveyance transfer or lease of substantially all of the assets of any Subsidiary
Guarantor unless: 
  

	 	(1)	 (a) the resulting, surviving or transferee Person will be a corporation, partnership, trust or limited liability company organized and existing under the laws of
the United States of America, any State of the United States or the District of Columbia and such Person (if not such Subsidiary Guarantor) will expressly assume, by supplemental indenture, executed and delivered to the Trustee, all the obligations
of such Subsidiary Guarantor under its Subsidiary Guarantee; (b) immediately after giving 

  

	 	 
effect to such transaction (and treating any Indebtedness that becomes an obligation of the resulting, surviving or transferee Person or any Restricted
Subsidiary as a result of such transaction as having been Incurred by such Person or such Restricted Subsidiary at the time of such transaction), no Default of Event of Default shall have occurred and be continuing; and (c) the Company will have
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture; or 

  

	 	(2)	the transaction is made in compliance with the provisions described under Article X, Section 3.8 and Section 3.12. 

  
 ARTICLE V 
  
 Redemption of Securities 
  
 SECTION 5.1. Optional Redemption. Except as set forth below, the Securities are not redeemable until April 1, 2010. On and after April 1, 2010, the
Company may redeem all or, from time to time, a part of the Securities upon not less than 30 nor more than 60 days’ notice, at the following redemption prices (expressed as a percentage of principal amount) plus accrued and unpaid interest on
the Securities, if any, to the applicable date of redemption (any such date, a “Redemption Date”) (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date),
if redeemed during the twelve-month period beginning on April 1 of the years indicated below: 
  

				
	 Year

	  	Percentage

	 
	 2010
	  	103.500	%
	 2011
	  	102.333	%
	 2012
	  	101.167	%
	 2013 and thereafter
	  	100.000	%

  
 Prior to April 1,
2008, the Company may on any one or more occasions redeem up to 35% of the original principal amount of the Securities with the Net Cash Proceeds of one or more Equity Offerings at a redemption price of 107.000% of the principal amount thereof, plus
accrued and unpaid interest, if any, to the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date); provided that 
  

	 	(1)	there is a Public Market at the time of such redemption; 

  

	 	(2)	at least 65% of the original principal amount of the Securities remains outstanding after each such redemption; and 

  

	 	(3)	the redemption occurs within 60 days after the closing of such Equity Offering. 

  
 In addition, the Securities may be redeemed, in whole or in part, at any time prior to April 1, 2010 at the option of the
Company upon not less than 30 nor more than 60 days’ prior notice mailed by first-class mail to each Holder of Securities at its registered address, at a redemption price equal to 100% of the principal amount of the Securities redeemed plus the
Applicable Premium as of, and accrued and unpaid interest to, the applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date). 
  
 If the optional Redemption Date is on or after an interest record date and on
or before the related interest payment date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Security is registered at the close of business on such record date, and no additional interest will be payable to
holders whose Securities will be subject to redemption by the Company. 
  
 SECTION 5.2. Applicability of Article. Redemption of Securities at the election of the Company or otherwise, as permitted or required by any provision of this Indenture, shall be made in accordance with such provision and this
Article. 
  
 SECTION 5.3. Election to Redeem; Notice to
Trustee. The election of the Company to redeem any Securities pursuant to Section 5.1 shall be evidenced by a resolution of the Board of Directors. In case of any redemption at the election of the Company, the Company shall, upon not
later than the earlier of the date that is 45 days prior to the Redemption Date fixed by the Company or the date on which notice is given to the Holders (except as provided in Section 5.5 or unless a shorter notice shall be satisfactory to
the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities to be redeemed and shall deliver to the Trustee such documentation and records as shall enable the Trustee to select the Securities to be redeemed
pursuant to Section 5.4. 
  
 SECTION 5.4. Selection by
Trustee of Securities to Be Redeemed. If less than all the Securities are to be redeemed at any time pursuant to an optional redemption, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption
Date by the Trustee, from the outstanding Securities not previously called for redemption, in compliance with the requirements of the principal national securities exchange, if any, on which such Securities are listed, or, if such Securities are not
so listed, on a pro rata basis, by lot or by such other method as the Trustee in its sole discretion shall deem fair and appropriate (and in such manner as complies with applicable legal requirements) and which may provide for the
selection for redemption of portions of the principal of the Securities; provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security not redeemed to less than $1,000. 
  
 The Trustee shall promptly notify the Company in writing of the Securities
selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. 
  

 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to
redemption of Securities shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has been or is to be redeemed. 
  
 SECTION 5.5. Notice of Redemption. Notice of redemption shall be given
in the manner provided for in Section 11.2 not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed. The Trustee shall give notice of redemption in the Company’s name and at
the Company’s expense; provided, however, that the Company shall deliver to the Trustee, at least 45 days prior to the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee), an Officers’ Certificate
requesting that the Trustee give such notice at the Company’s expense and setting forth the information to be stated in such notice as provided in the following items. 
  
 All notices of redemption shall state: 
  

	 	(1)	the Redemption Date, 

  

	 	(2)	the redemption price and the amount of accrued interest to the Redemption Date payable as provided in Section 5.7, if any, 

  

	 	(3)	if less than all outstanding Securities are to be redeemed, the identification of the particular Securities (or portion thereof) to be redeemed, as well as the aggregate principal
amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such partial redemption, 

  

	 	(4)	in case any Security is to be redeemed in part only, the notice which relates to such Security shall state that on and after the Redemption Date, upon surrender of such Security,
the Holder will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed, 

  

	 	(5)	that on the Redemption Date the redemption price (and accrued interest, if any, to the Redemption Date payable as provided in Section 5.7) will become due and payable upon
each such Security, or the portion thereof, to be redeemed, and, unless the Company defaults in making the redemption payment, that interest on Securities called for redemption (or the portion thereof) will cease to accrue on and after said date,

  

	 	(6)	the place or places where such Securities are to be surrendered for payment of the Redemption Price and accrued interest, if any, 

  

	 	(7)	the name and address of the Paying Agent, 

  

	 	(8)	that Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price, 

  

	 	(9)	the CUSIP number, and that no representation is made as to the accuracy or correctness of the CUSIP number, if any, listed in such notice or printed on the Securities, and

  

	 	(10)	the paragraph of the Securities pursuant to which the Securities are to be redeemed. 

  
 SECTION 5.6. Deposit of Redemption Price. Prior to 10:00 a.m. New York City time, on any Redemption Date, the Company
shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 2.4) an amount of money sufficient to pay the redemption price of, and accrued
interest on, all the Securities which are to be redeemed on that date. 
  
 SECTION 5.7. Securities Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the redemption price therein specified
(together with accrued interest, if any, to the Redemption Date), and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon
surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the redemption price, together with accrued interest, if any, to the Redemption Date (subject to the rights of Holders of
record on the relevant record date to receive interest due on the relevant interest payment date). 
  
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid,
bear interest from the Redemption Date at the rate borne by the Securities. 
  
 SECTION 5.8. Securities Redeemed in Part. Any Security which is to be redeemed only in part (pursuant to the provisions of this Article) shall be surrendered at the office or agency of the Company maintained
for such purpose pursuant to Section 3.15 (with, if the Company or the Trustee so require, due endorsement by, or a written instrument of transfer in form satisfactory to the Company duly executed by, the Holder thereof or such Holder’s
attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and make available for delivery to the Holder of such Security at the expense of the Company, a new Security or Securities, of any authorized
denomination as requested by such Holder, in an aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered, provided, that each such new Security will be in a principal
amount of $1,000 or integral multiple thereof. 
  

 ARTICLE VI 
  
 Defaults and Remedies 
  
 SECTION 6.1. Events of Default. Each of the following is an “Event of Default”: 
  

	 	(1)	default in any payment of interest or additional interest (as required by the Registration Rights Agreement) on any Security when due, continued for 30 days;

  

	 	(2)	default in the payment of principal of or premium, if any, on any Security when due at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or
otherwise; 

  

	 	(3)	failure by the Company or any Subsidiary Guarantor to comply with its obligations under Article IV; 

  

	 	(4)	failure by the Company to comply for 30 days after notice with any of its obligations under Sections 3.2, 3.3, 3.4, 3.5, 3.6, 3.7,
3.8, 3.9, 3.10, 3.11, 3.12, 3.13, 3.14, 3.15, 3.16, and 3.17 (in each case, other than a failure to purchase Securities which will constitute an Event of Default under clause (2)
above and other than a failure to comply with Article IV which is covered by clause (3)); 

  

	 	(5)	failure by the Company or any Subsidiary Guarantor to comply for 60 days after notice with its other agreements contained in this Indenture; 

  

	 	(6)	default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company
or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries), other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or guarantee now
exists, or is created after the date of this Indenture, which default: 

  

	 	(a)	is caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness
(“payment default”); or 

  

	 	(b)	results in the acceleration of such Indebtedness prior to its maturity (the “cross acceleration provision”); 

  
 and, in each case, the principal amount of any such Indebtedness, together
with the principal amount of any other such Indebtedness under which there has been a payment default or the maturity of which has been so accelerated, aggregates $10.0 million or more; 
  

	 	(7)	(a) the Company or any Significant Subsidiary or a group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company
and its Restricted Subsidiaries), would constitute a Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law: 

  

	 	(i)	commences a voluntary case or proceeding; 

  

	 	(ii)	consents to the entry of judgment, decree or order for relief against it in an involuntary case or proceeding; 

  

	 	(iii)	consents to the appointment of a Custodian of it or for any substantial part of its property; 

  

	 	(iv)	makes a general assignment for the benefit of its creditors; 

  

	 	(v)	consents to or acquiesces in the institution of a bankruptcy or an insolvency proceeding against it; or 

  

	 	(vi)	takes any corporate action to authorize or effect any of the foregoing; 

  
 or takes any comparable action under any foreign laws relating to insolvency; or 
  
 (b) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
  

	 	(i)	is for relief against the Company or any Significant Subsidiary or a group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial
statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary in an involuntary case; 

  

	 	(ii)	appoints a Custodian of the Company or any Significant Subsidiary or a group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial
statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary or for any substantial part of its property; or 

  

	 	(iii)	 orders the winding up or liquidation of the Company or any Significant Subsidiary or a group of Restricted Subsidiaries that, taken together (as of the latest
audited consolidated financial statements for the Company and its Restricted Subsidiaries) would constitute a Significant Subsidiary; 

  

	 	 
or any similar relief is granted under any foreign laws and the order, decree or relief remains unstayed and in effect for 60 days;

  

	 	(8)	failure by the Company or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the
Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary to pay final judgments aggregating in excess of $10.0 million (net of any amounts that a reputable and creditworthy insurance company has acknowledged liability for
in writing), which judgments are not paid, discharged or stayed for a period of 60 days (the “judgment default provision”); 

  

	 	(9)	any Subsidiary Guarantee of any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the
Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary shall cease to be in full force and effect (except pursuant to the release or termination of any such Subsidiary Guarantee in accordance with this Indenture) or
shall be held to be null and void in a judicial proceeding; or any Subsidiary Guarantor that is a Significant Subsidiary or group of Subsidiary Guarantors that, taken together (as of the latest audited consolidated financial statements for the
Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary shall assert that any its Subsidiary Guarantee is not enforceable or valid or otherwise denies or disaffirms its obligations under this Indenture or its Subsidiary
Guarantee. 

  
 However, a Default under clauses (4) and (5) of this
Section 6.1 will not constitute an Event of Default until the Trustee or the Holders of 25% in principal amount of the outstanding Securities notify the Company and, in the case of a notice given by the Holders, the Trustee of the Default and
the Company does not cure such Default within the time specified in clauses (4) and (5) of this Section 6.1 after receipt of such notice. 
  
 SECTION 6.2. Acceleration. If an Event of Default (other than an Event of Default described in clause (7) of Section 6.1) occurs and is
continuing, the Trustee by notice to the Company, or the Holders of at least 25% in principal amount of the outstanding Securities by notice to the Company and the Trustee, may, and the Trustee at the request of such Holders shall, declare the
principal of, premium, if any, and accrued and unpaid interest, if any, on all the Securities to be due and payable. Upon such a declaration, such principal, premium and accrued and unpaid interest will be due and payable immediately. In the event
of a declaration of acceleration of the Securities because an Event of Default described in clause (6) of Section 6.1 has occurred and is continuing, the declaration of acceleration of the Securities shall be automatically annulled if the
event of default or payment default triggering such Event of Default pursuant to clause (6) of Section 6.1 shall be remedied or cured by the Company or a Restricted Subsidiary or waived by the holders of the relevant Indebtedness within 20
days after the declaration of acceleration with respect thereto and if (1) the annulment of the acceleration of the Securities would not conflict with any judgment or decree of a court of competent jurisdiction and (2) all existing Events of
Default, except nonpayment of principal, premium or interest on 

  

 
the Securities that became due solely because of the acceleration of the Securities, have been cured or waived. If an Event of Default described in clause
(7) of Section 6.1 above occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest on all the Securities will become and be immediately due and payable without any declaration or other act on the part of the
Trustee or any Holders. The Holders of a majority in principal amount of the outstanding Securities may waive any or all past defaults (except with respect to nonpayment of principal, premium or interest) and rescind any such acceleration with
respect to the Securities and its consequences if (1) rescission would not conflict with any judgment or decree of a court of competent jurisdiction and (2) all existing Events of Default, other than the nonpayment of the principal of, premium, if
any, and interest on the Securities that have become due solely by such declaration of acceleration, have been cured or waived. 
  
 SECTION 6.3. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of
principal of (or premium, if any) or interest on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 
  
 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or
omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any
other remedy. All available remedies are cumulative. 
  
 SECTION
6.4. Waiver of Past Defaults. Subject to Section 6.2, the Holders of a majority in principal amount of the outstanding Securities by notice to the Trustee may (a) waive, by their consent (including, without limitation consents obtained
in connection with a purchase of, or tender offer or exchange offer for, Securities), an existing Default or Event of Default and its consequences except (i) a Default or Event of Default in the payment of the principal of, or premium, if any, or
interest on a Security or (ii) a Default or Event of Default in respect of a provision that under Section 9.2 cannot be amended without the consent of each Securityholder affected and (b) rescind any such acceleration with respect to the
Securities and its consequences if rescission would not conflict with any judgment or decree of a court of competent jurisdiction. When a Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or
other Default or Event of Default or impair any consequent right. 
  
 SECTION 6.5. Control by Majority. The Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any
trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or, subject to Sections 7.1 and 7.2, that the Trustee determines is unduly prejudicial to the
rights of other Securityholders or would involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any
action hereunder, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 
  

 SECTION 6.6. Limitation on Suits. Subject to Section 6.7, a Securityholder may not pursue
any remedy with respect to this Indenture or the Securities unless: 
  

	 	(1)	such Holder has previously given to the Trustee written notice stating that an Event of Default is continuing; 

  

	 	(2)	Holders of at least 25% in principal amount of the outstanding Securities have requested that the Trustee pursue the remedy; 

  

	 	(3)	such Holders have offered to the Trustee reasonable security or indemnity against any loss, liability or expense; 

  

	 	(4)	the Trustee has not complied with such request within 60 days after receipt of the request and the offer of security or indemnity; and 

  

	 	(5)	the Holders of a majority in principal amount of the outstanding Securities have not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such
request within such 60-day period. 

  
 A
Securityholder may not use this Indenture to prejudice the rights of another Securityholder or to obtain a preference or priority over another Securityholder. 
  

SECTION 6.7. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture (including, without limitation,
Section 6.6), the right of any Holder to receive payment of principal of, premium (if any) or interest on the Securities held by such Holder, on or after the respective due dates expressed in the Securities, or to bring suit for the
enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
  
 SECTION 6.8. Collection Suit by Trustee. If an Event of Default specified in clauses (1) or (2) of Section 6.1 occurs and is continuing, the
Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in
Section 7.7. 
  
 SECTION 6.9. Trustee May File Proofs of
Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and the Securityholders allowed in any judicial proceedings relative to the Company, its
Subsidiaries or its or their respective creditors or properties and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and
any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any
amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.7. 
  

 SECTION 6.10. Priorities. If the Trustee collects any money or property pursuant to this
Article VI, it shall pay out the money or property in the following order: 
  
 FIRST: to the Trustee for amounts due under Section 7.7; 
  
 SECOND: to Securityholders for amounts due and unpaid on the Securities for principal, premium, if any, and interest, ratably, without preference or
priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 
  
 THIRD: to the Company or the Subsidiary Guarantors. 
  
 The Trustee may fix a record date and payment date for any payment to Securityholders pursuant to this Section 6.10. At least 15 days before such
record date, the Company shall mail to each Securityholder and the Trustee a notice that states the record date, the payment date and amount to be paid. 
  
 SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee
for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee,
a suit by the Company, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 10% in outstanding principal amount of the Securities. 
  
 SECTION 6.12. Additional Payments. In the case of any Event of Default occurring by reason of any willful action (or
inaction) taken (or not taken) by or on behalf of the Company with the intention of avoiding payment of the premium that the Company would have had to pay if the Company then had elected to redeem the Securities pursuant to the optional redemption
provisions of this Indenture or was required to repurchase the Securities, an equivalent premium shall also become and be immediately due and payable to the extent permitted by law upon the acceleration of the Securities. 
  
 SECTION 6.13. Waiver of Stay. Each of the Company and the Subsidiary
Guarantors covenant (to the extent permitted by applicable law) that it will not at any time insist upon, plead or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law wherever enacted,
now or at any time hereafter in force, which would prohibit or forgive the Company or any Subsidiary Guarantor from paying all of any portion of the principal of (premium, if any, on) or interest on the Securities as contemplated herein, or which
may affect the covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) each of the Company and the Subsidiary Guarantors hereby expressly waive all benefit or advantage of any such law, and covenants that they
will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
  

 ARTICLE VII 
  
 Trustee 
  
 SECTION 7.1. Duties of Trustee. (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested
in it by this Indenture and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default
occurs and is continuing, the Trustee will be under no obligation to exercise the rights or powers under this Indenture at the request or direction of any of the holders unless such holders have offered to the Trustee reasonable indemnity or
security against loss, liability or expense. 
  
 (b) Except during
the continuance of an Event of Default: 
  

	 	(1)	the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and 

  

	 	(2)	in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon
certificates, opinions or orders furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the
Trustee, the Trustee shall examine such certificates and opinions to determine whether or not they conform on their face to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other
facts stated therein). 

  
 (c) The Trustee may not
be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
  

	 	(1)	this paragraph does not limit the effect of paragraph (b) of this Section 7.1; 

  

	 	(2)	the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent
facts; and 

  

	 	(3)	the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.5.

  
 (d) Every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.1. 
  
 (e) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. 
  

 (f) Money held in trust by the Trustee need not be segregated from other funds except to the extent
required by law. 
  
 (g) No provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that
repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
  
 (h) Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the
provisions of this Section 7.1 and to the provisions of the TIA. 
  
 (i) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company shall be sufficient if signed by an Officer of the Company. 
  
 (j) The Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders shall have offered to the Trustee reasonable security or indemnity satisfactory to it against the costs, expenses (including reasonable
attorneys’ fees and expenses) and liabilities that might be incurred by it in compliance with such request or direction. 
  
 SECTION 7.2. Rights of Trustee. Subject to Section 7.1: 
  
 (a) The Trustee may conclusively rely on any document (whether in its original or facsimile form) reasonably believed by it
to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
  
 (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate and/or an Opinion of Counsel. The Trustee shall not be
liable for any action it takes or omits to take in good faith in reliance on an Officers’ Certificate or Opinion of Counsel. 
  
 (c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent appointed with due
care. 
  
 (d) The Trustee shall not be liable for any action it
takes or omits to take in good faith which it believes to be authorized or within its rights or powers, unless the Trustee’s conduct constitutes willful misconduct or negligence. 
  
 (e) The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal
matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or
opinion of such counsel. 
  

 (f) The Trustee shall not be charged with knowledge of any default or Event of Default with respect to
the Securities, unless either (1) a Trust Officer shall have actual knowledge of such default or Event of Default or (2) written notice of such default or Event of Default shall have been given to the Trustee by the Company or by any Holder of the
Securities; and 
  
 (g) The permissive rights of the Trustee
enumerated herein shall not be construed as duties. 
  
 SECTION
7.3. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not
Trustee. Any Paying Agent, Registrar, co-registrar or co-paying agent may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 
  
 SECTION 7.4. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to
the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement of the Company in this Indenture or in any
document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s certificate of authentication. 
  
 SECTION 7.5. Notice of Defaults. If a Default or Event of Default occurs and is continuing and if a Trust Officer has actual knowledge thereof, the
Trustee shall mail to each Securityholder notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium, if any, or interest on any Security
(including payments pursuant to the optional redemption or required repurchase provisions of such Security, if any), the Trustee may withhold notice if and so long as a committee of its Trust Officers in good faith determines that withholding notice
is in the interests of Securityholders. 
  
 SECTION 7.6.
Reports by Trustee to Holders. As promptly as practicable after each August 15 beginning with the August 15, following the date of this Indenture, and in any event prior to October 15 in each year for so long as the Securities remain
outstanding, the Trustee shall mail to each Securityholder a brief report dated as of such August 15 that complies with TIA § 313(a). The Trustee also shall comply with TIA § 313(b). The Trustee shall also transmit by mail all reports
required by TIA § 313(c). 
  
 A copy of each report at the
time of its mailing to Securityholders shall be filed with the Commission and each stock exchange (if any) on which the Securities are listed. The Company agrees to notify promptly the Trustee whenever the Securities become listed on any stock
exchange and of any delisting thereof. 
  
 SECTION 7.7.
Compensation and Indemnity. The Company shall pay to the Trustee from time to time reasonable compensation for its acceptance of this Indenture and services hereunder as the Company and the Trustee shall from time to time agree in writing.
The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an 

  

 
express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred or made by it, including costs of
collection, costs of preparing and reviewing reports, certificates and other documents, costs of preparation and mailing of notices to Securityholders, in addition to the compensation for its services. Such expenses shall include the reasonable
compensation and expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Company shall indemnify the Trustee against any and all loss, liability, damages, claims or expense (including reasonable
attorneys’ fees and expenses) incurred by it without negligence, willful misconduct or bad faith on its part in connection with the administration of this trust and the performance of its duties hereunder, including the costs and expenses of
enforcing this Indenture (including this Section 7.7) and of defending itself against any claims (whether asserted by any Securityholder, the Company or otherwise). The Trustee shall notify the Company promptly of any claim for which it may
seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee shall provide reasonable cooperation at the Company’s expense in the
defense. The Trustee may have separate counsel and the Company shall pay the fees and expenses of such counsel provided that the Company shall not be required to pay such fees and expenses if it assumes the Trustee’s defense, and, in the
reasonable judgment of outside counsel to the Trustee, there is no conflict of interest between the Company and the Trustee in connection with such defense. The Company shall not be under any obligation to pay for any written settlement without its
consent, which consent shall not be unreasonably delayed, conditioned or withheld. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful
misconduct, negligence or bad faith. 
  
 To secure the
Company’s payment obligations in this Section 7.7, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and
interest on particular Securities. 
  
 The Company’s payment
obligations pursuant to this Section 7.7 shall survive the discharge of this Indenture. When the Trustee incurs expenses after the occurrence of a Default specified in clause (7) of Section 6.1 with respect to the Company, the expenses
are intended to constitute expenses of administration under any Bankruptcy Law. The obligations of the Company under this Section 7.7 shall survive the resignation or removal of the Trustee and the termination, satisfaction or discharge of
this Indenture. 
  
 SECTION 7.8. Replacement of Trustee.
The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the then outstanding Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company
shall remove the Trustee if: 
  

	 	(1)	the Trustee fails to comply with Section 7.10; 

  

	 	(2)	the Trustee is adjudged bankrupt or insolvent; 

  

	 	(3)	a receiver or other public officer takes charge of the Trustee or its property; or 

  

	 	(4)	the Trustee otherwise becomes incapable of acting. 

  
 If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the then outstanding Securities and such
Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a
successor Trustee. 
  
 A successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee
under this Indenture. The successor Trustee shall mail a notice of its succession to Securityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in
Section 7.7. 
  
 If a successor Trustee does not take
office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Securities may petition, at the Company’s expense, any court of competent jurisdiction for
the appointment of a successor Trustee. 
  
 If the Trustee fails
to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in TIA § 310(b), any Securityholder who has been a bona fide Holder of a Security for at least six months may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
  
 Notwithstanding the replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 shall continue for the benefit of the retiring Trustee. 
  
 SECTION 7.9. Successor Trustee by Merger. If the Trustee consolidates
with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the
successor Trustee. 
  
 In case at the time such successor or
successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this Indenture, any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the
certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities
either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture. 
  
 SECTION 7.10. Eligibility; Disqualification. The Trustee shall at all
times satisfy the requirements of TIA § 310(a). The Trustee shall have a combined capital and surplus of at least $100 million as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA §
310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities or 

  

 
certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in TIA §
310(b)(1) are met. 
  
 SECTION 7.11. Preferential Collection of
Claims Against Company. The Trustee shall comply with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated.

  
 ARTICLE VIII 
  
 Discharge of Indenture; Defeasance 
  
 SECTION 8.1. Discharge of Liability on Securities; Defeasance. (a)
Subject to Section 8.1(c), when (i)(x) the Company delivers to the Trustee all outstanding Securities (other than Securities replaced pursuant to Section 2.7) for cancellation or (y) all outstanding Securities not theretofore delivered
for cancellation have become due and payable, whether at maturity or upon redemption or will become due and payable at their Stated Maturity within one year or are to be called for redemption within one year under arrangements satisfactory to the
Trustee for the giving of notice of redemption pursuant to Article V hereof and the Company or any Subsidiary Guarantor irrevocably deposits or causes to be deposited with the Trustee as trust funds in trust solely for the benefit of the
Holders money in U.S. dollars, non-callable U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient without consideration of any reinvestment of interest to pay and discharge the entire indebtedness on such
Securities not theretofore delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption; (ii) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit or shall occur as a result of such deposit and such deposit will not result in a breach or violation of, or constitute a default under, any other material instrument to which the Company is a party or by which the Company or any
Subsidiary Guarantor is bound; (iii) the Company or any Subsidiary Guarantor has paid or caused to be paid all sums payable under this Indenture and the Securities; and (iv) the Company has delivered irrevocable instructions to the Trustee under
this Indenture to apply the deposited money toward the payment of such Securities at maturity or the Redemption Date, as the case may be, then the Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company
(accompanied by an Officers’ Certificate and an Opinion of Counsel stating that all conditions precedent specified herein relating to the satisfaction and discharge of this Indenture have been complied with) and at the cost and expense of the
Company. 
  
 (b) Subject to Sections 8.1(c) and 8.2,
the Company at any time may terminate (i) all its obligations under the Securities and this Indenture and all obligations of the Subsidiary Guarantors under the Subsidiary Guarantees and this Indenture (“legal defeasance option”),
and after giving effect to such legal defeasance, any omission to comply with such obligations shall no longer constitute a Default or Event of Default or (ii) its obligations under Sections 3.2, 3.3, 3.4, 3.5,
3.6, 3.7, 3.8, 3.9, 3.10, 3.11, 3.12, 3.13, 3.17, and 4.1(3) and the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation
set forth in any such covenant, whether directly or indirectly, by reason of any 

  

 
reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and
such omission to comply with such covenants shall no longer constitute a Default or an Event of Default under Section 6.1(4) and 6.1(5) and the operation of Sections 6.1(6), 6.1(7) (but only with respect to a Significant
Subsidiary or group of Restricted Subsidiaries that would constitute a Significant Subsidiary), 6.1(8) and 6.1(9), and the events specified in such Sections shall no longer constitute an Event of Default (clause (ii) being referred to
as the “covenant defeasance option”), but except as specified above, the remainder of this Indenture and the Securities shall be unaffected thereby. The Company may exercise its legal defeasance option notwithstanding its prior
exercise of its covenant defeasance option. 
  
 If the Company
exercises its legal defeasance option, payment of the Securities may not be accelerated because of an Event of Default with respect to the Securities, and the Subsidiary Guarantees in effect at such time shall terminate. If the Company exercises its
covenant defeasance option, payment of the Securities may not be accelerated because of an Event of Default specified in Section 6.1(4) (as such Section relates to 3.2, 3.3, 3.4, 3.5, 3.6, 3.7,
3.8, 3.9, 3.10, 3.11, 3.12, 3.13, and 3.17), 6.1(5), 6.1(6), 6.1(7) (but only with respect to a Significant Subsidiary or group of Restricted Subsidiaries that would constitute a
Significant Subsidiary), 6.1(8) or 6.1(9) or because of the failure of the Company to comply with Section 4.1(3). 
  
 Upon satisfaction of the conditions set forth herein and upon request of the Company, the Trustee shall acknowledge in writing the discharge of those
obligations that the Company terminates. 
  
 (c) Notwithstanding
the provisions of Sections 8.1(a) and (b), the Company’s obligations in Sections 2.2, 2.3, 2.4, 2.5, 2.6, 2.7, 2.8, 2.9, 3.1, 3.14, 3.15, 3.16,
3.18, 3.19, 3.20, 6.7, 7.7, 7.8 and in this Article VIII shall survive until the Securities have been paid in full. Thereafter, the Company’s obligations in Sections 7.7, 8.4 and
8.5 shall survive. 
  
 SECTION 8.2. Conditions to
Defeasance. The Company may exercise its legal defeasance option or its covenant defeasance option only if: 
  

	 	(1)	the Company irrevocably deposits in trust with the Trustee for the benefit of the Holders money in U.S. dollars or U.S. Government Obligations or a combination thereof for the
payment of principal, premium, if any, and interest on the Securities to maturity or redemption, as the case may be; 

  

	 	(2)	the Company delivers to the Trustee a certificate from a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest
when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay principal, premium, if any, and interest when
due on all the Securities to maturity; 

  

	 	(3)	no Default or Event of Default shall have occurred and be continuing on the date of such deposit or, with respect to the Company under Section 6.1(7), on the 123rd day after
such date of deposit; 

  

	 	(4)	such legal defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a Default under, this Indenture or any other material agreement or
instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

  

	 	(5)	the Company shall have delivered to the Trustee an Opinion of Counsel (subject to customary assumptions and exclusions) to the effect that (A) the Securities and (B) assuming no
intervening bankruptcy of the Company between the date of deposit and the 123rd day following the deposit and that no Holder of the Securities is an insider of the Company within the meaning of the Bankruptcy Law, after the 123rd day following the
deposit, the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ right generally; 

  

	 	(6)	the Company delivers to the Trustee an Opinion of Counsel (subject to customary assumptions and exclusions) to the effect that the trust resulting from the deposit does not
constitute, or is qualified as, a regulated investment company under the Investment Company Act of 1940; 

  

	 	(7)	in the case of the legal defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel (subject to customary assumptions and exclusions) in the United
States stating that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of this Indenture there has been a change in the applicable Federal income tax law, in either case
to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Securityholders will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to Federal income tax on
the same amounts, in the same manner and at the same times as would have been the case if such legal defeasance had not occurred; 

  

	 	(8)	in the case of the covenant defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel (subject to customary assumptions and exclusions) in the United
States to the effect that the Securityholders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to Federal income tax on the same amount, in the same
manner and at the same times as would have been the case if such deposit and covenant defeasance had not occurred; and 

  

	 	(9)	the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the
Securities and this Indenture as contemplated by this Article VIII have been complied with. 

  
 SECTION 8.3. Application of Trust Money. The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to this
Article VIII. It shall apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities. 
  
 SECTION 8.4. Repayment to Company. The Trustee and the Paying Agent
shall promptly turn over to the Company upon request any excess money, U.S. Government Obligations or securities held by them upon payment of all the obligations under this Indenture. 
  
 Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any
money held by them for the payment of principal of or interest on the Securities that remains unclaimed for two years, and, thereafter, Securityholders entitled to the money must look to the Company for payment as general creditors. 
  
 SECTION 8.5. Indemnity for U.S. Government Obligations. The Company
shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 
  
 SECTION 8.6. Reinstatement. If the Trustee or Paying Agent is unable
to apply any money or U.S. Government Obligations in accordance with this Article VIII by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, the obligations of the Company and the Subsidiary Guarantors under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to this Article VIII until such time
as the Trustee or Paying Agent is permitted to apply all such money or U.S. Government Obligations in accordance with this Article VIII; provided, however, that, if the Company has made any payment of interest on or principal of any
Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent.

  
 ARTICLE IX 
  
 Amendments 
  
 SECTION 9.1. Without Consent of Holders. The Company, the Subsidiary
Guarantors and the Trustee may amend this Indenture, the Securities or the Subsidiary Guarantees without notice to or consent of any Securityholder: 
  

	 	(1)	to cure any ambiguity, omission, defect or inconsistency; 

  

	 	(2)	to provide for the assumption by a Successor Company of an obligation of the Company or any Subsidiary Guarantor under this Indenture in compliance with Article IV;

  

	 	(3)	to provide for uncertificated Securities in addition to or in place of certificated Securities (provided that the uncertificated Securities are issued in registered form for
purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Securities are described in Section 163(f) (2) (B) of the Code); 

  

	 	(4)	to add Guarantees with respect to the Securities or release a Subsidiary Guarantor upon its designation as an Unrestricted Subsidiary; provided, however, that the designation
is in accordance with the terms of this Indenture; 

  

	 	(5)	to secure the Securities; 

  

	 	(6)	to add to the covenants of the Company for the benefit of the Holders or to surrender any right or power herein conferred upon the Company; 

  

	 	(7)	to make any change that does not adversely affect the rights of any Securityholder; 

  

	 	(8)	to comply with any requirement of the Commission in connection with qualifying, or maintaining the qualification of this Indenture, under the Trust Indenture Act; or

  

	 	(9)	to provide for the issuance of Exchange Securities. 

  
 After an amendment under this Section 9.1 becomes effective, the Company shall mail to Securityholders a notice briefly describing such amendment.
The failure to give such notice to all Securityholders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.1. 
  
 SECTION 9.2. With Consent of Holders. The Company, the Subsidiary Guarantors and the Trustee may amend or supplement
this Indenture or the Securities without notice to any Securityholder but with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including, without limitation, consents obtained in
connection with a purchase of, or tender offer or exchange offer for, Securities). However, without the consent of each Securityholder affected, an amendment may not: 
  

	 	(1)	reduce the principal amount of Securities whose Holders must consent to an amendment; 

  

	 	(2)	reduce the stated rate of or extend the stated time for payment of interest on any Security; 

  

	 	(3)	reduce the principal of or extend the Stated Maturity of any Security; 

  

	 	(4)	reduce the premium payable upon the redemption or repurchase of any Security as described under Article V, Section 3.8, Section 3.10 or change the time at which
any Security may be redeemed or repurchased as described under Article V, or make any change to the provisions relating to a Change of Control Offer in respect of a Change of Control that has occurred or make any change to the provisions
relating an Asset Disposition Offer that has been made, in each case whether through an amendment or waiver of provisions in the covenants, definitions or otherwise; 

  

	 	(5)	make any Security payable in currency other than that stated in the Security; 

  

	 	(6)	impair the right of any Holder to receive payment of, premium, if any, principal of and interest on such Holder’s Securities on or after the due dates therefor or to institute
suit for the enforcement of any payment on or with respect to such Holder’s Securities; 

  

	 	(7)	make any change in the amendment provisions which require each Holder’s consent or in the waiver provisions; or 

  

	 	(8)	modify the Subsidiary Guarantees in any manner adverse to the Holders of the Securities. 

  
 It shall not be necessary for the consent of the Holders under this Section 9.2 to approve the particular form of any
proposed amendment, but it shall be sufficient if such consent approves the substance thereof. A consent to any amendment or waiver under this Indenture by any Holder of the Securities given in connection with a tender of such Holder’s
Securities will not be rendered invalid by such tender. 
  
 After
an amendment under this Section 9.2 becomes effective, the Company shall mail to Securityholders a notice briefly describing such amendment. The failure to give such notice to all Securityholders, or any defect therein, shall not impair or
affect the validity of an amendment under this Section 9.2. 
  
 SECTION 9.3. Compliance with Trust Indenture Act. Every amendment or supplement to this Indenture or the Securities shall comply with the TIA as then in effect. 
  
 SECTION 9.4. Revocation and Effect of Consents and Waivers. A consent to an amendment or a waiver by a Holder of a
Security shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent or waiver is not made on the Security.
However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Security or portion of the Security if the Trustee receives the notice of revocation before the date the amendment or waiver becomes effective.
After an amendment or waiver becomes effective, it shall bind every Securityholder. An amendment or waiver shall become 

  

 
effective upon receipt by the Trustee of the requisite number of written consents under Section 9.1 or 9.2 as applicable. 
  
 The Company may, but shall not be obligated to, fix a record date for the
purpose of determining the Securityholders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately
preceding paragraph, those Persons who were Securityholders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action,
whether or not such Persons continue to be Holders after such record date. No such consent shall become valid or effective more than 120 days after such record date. 
  
 SECTION 9.5. Notation on or Exchange of Securities. If an amendment changes the terms of a Security, the Trustee may
require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the
Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of such amendment.

  
 SECTION 9.6. Trustee To Sign Amendments. The Trustee
shall sign any amendment authorized pursuant to this Article IX if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such
amendment the Trustee shall be entitled to receive indemnity reasonably satisfactory to it and to receive, in addition to the documents required by Section 11.4, and (subject to Sections 7.1 and 7.2) shall be fully protected in
relying upon an Officers’ Certificate and an Opinion of Counsel stating that such amendment is authorized or permitted by this Indenture. 
  
 ARTICLE X 
  
 Subsidiary Guarantee 
  
 SECTION 10.1. Subsidiary Guarantee. Each Subsidiary Guarantor hereby fully, unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, jointly and severally with each other
Subsidiary Guarantor, to each Holder of the Securities and the Trustee the full and punctual payment when due, whether at maturity, by acceleration, by redemption or otherwise, of the principal of, premium, if any, and interest on the Securities and
all other monetary obligations of the Company under this Indenture (all the foregoing being hereinafter collectively called the “Obligations”). Each Subsidiary Guarantor further agrees (to the extent permitted by law) that the
Obligations may be extended or renewed, in whole or in part, without notice or further assent from it, and that it will remain bound under this Article X notwithstanding any extension or renewal of any Obligation. 
  
 Each Subsidiary Guarantor waives presentation to, demand of payment from and
protest to the Company of any of the Obligations and also waives notice of protest for 

  

 
nonpayment. Each Subsidiary Guarantor waives notice of any default under the Securities or the Obligations. The obligations of each Subsidiary Guarantor
hereunder shall not be affected by (a) the failure of any Holder to assert any claim or demand or to enforce any right or remedy against the Company or any other person under this Indenture, the Securities or any other agreement or otherwise; (b)
any extension or renewal of any thereof; (c) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (d) the release of any security held by any Holder or the
Trustee for the Obligations or any of them; (e) the failure of any Holder to exercise any right or remedy against any other Subsidiary Guarantor; or (f) any change in the ownership of the Company. 
  
 Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein
constitutes a Guarantee of payment when due (and not a Guarantee of collection) and waives any right to require that any resort be had by any Holder to any security held for payment of the Obligations. 
  
 Except as expressly set forth in Sections 8.1(b) and 10.2, the
obligations of each Subsidiary Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason (other than payment of the Obligations in full), including any claim of waiver, release, surrender,
alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Obligations or otherwise. Without limiting the
generality of the foregoing, the obligations of each Subsidiary Guarantor herein shall not be discharged or impaired or otherwise affected by the failure of any Holder to assert any claim or demand or to enforce any remedy under this Indenture, the
Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure or delay, willful or otherwise, in the performance of the Obligations, or by any other act or thing or omission or delay to do any other act or
thing which may or might in any manner or to any extent vary the risk of any Subsidiary Guarantor or would otherwise operate as a discharge of such Subsidiary Guarantor as a matter of law or equity. 
  
 Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein
shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any of the Obligations is rescinded or must otherwise be restored by any Holder upon the bankruptcy or
reorganization of the Company or otherwise. 
  
 In furtherance of
the foregoing and not in limitation of any other right which any Holder has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Company to pay any of the Obligations when and as the same shall become due,
whether at maturity, by acceleration, by redemption or otherwise, each Subsidiary Guarantor hereby promises to and will, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders an amount equal to
the sum of (i) the unpaid amount of such Obligations then due and owing and (ii) accrued and unpaid interest on such Obligations then due and owing (but only to the extent not prohibited by law) and except as provided in Section 10.2.

  
 Each Subsidiary Guarantor further agrees that, as between such
Subsidiary Guarantor, on the one hand, and the Holders, on the other hand, (x) the maturity of the 

  

 
Obligations guaranteed hereby may be accelerated as provided in this Indenture for the purposes of its Subsidiary Guarantee herein, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the Obligations guaranteed hereby and (y) in the event of any such declaration of acceleration of such Obligations, such Obligations (whether or not due and payable) shall
forthwith become due and payable by the Subsidiary Guarantor for the purposes of this Subsidiary Guarantee. 
  
 Each Subsidiary Guarantor also agrees to pay any and all reasonable costs and expenses (including reasonable attorneys’ fees) incurred by the Trustee
or the Holders in enforcing any rights under this Section 10.1. 
  
 SECTION 10.2. Limitation on Liability; Termination, Release and Discharge. 
  
 (a) The obligations of each Subsidiary Guarantor hereunder will be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Subsidiary Guarantor (including, but
not limited to, Guarantor Senior Indebtedness) and after giving effect to any collections from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under its Subsidiary
Guarantee or pursuant to its contribution obligations under this Indenture, result in the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee not constituting a fraudulent conveyance or fraudulent transfer under Federal or state
law. 
  
 (b) Subject to Section 3.8 and Article IV,
each Subsidiary Guarantor may consolidate with or merge into or sell all or substantially all of its property and assets to the Company or another Subsidiary Guarantor without limitation. Subject to Section 3.8 and Article IV, each
Subsidiary Guarantor may consolidate with or merge into or sell all or substantially all its assets to a Person other than the Company or another Subsidiary Guarantor (whether or not Affiliated with the Subsidiary Guarantor), except that if the
surviving Person of any such merger or consolidation is a Subsidiary of the Company, such merger, consolidation or sale shall not be permitted unless (i) the Person formed by or surviving any such consolidation or merger assumes all the obligations
of such Subsidiary under the Subsidiary Guarantee pursuant to a supplemental indenture in form and substance reasonably satisfactory to the Trustee in respect of the Securities, this Indenture and the Subsidiary Guarantee; (ii) immediately after
giving effect to such transaction no covenants under Article III are violated; (iii) immediately after giving effect to such transaction, no Default or Event of Default exists; and (iii) the Company deliver to the Trustee an Officers’
Certificate and an Opinion of Counsel addressed to the Trustee with respect to the foregoing matters. Upon the sale or disposition of a Subsidiary Guarantor (by merger, consolidation, the sale of its Capital Stock or the sale of all or substantially
all of its properties and assets (other than by lease)), whether or not the Subsidiary Guarantor is the surviving corporation in such transaction, to a Person (whether or not an Affiliate of the Subsidiary Guarantor) which is not the Company or a
Restricted Subsidiary of the Company, which sale or disposition is otherwise in compliance with this Indenture (including, without limitation, Sections 3.4, 3.8 and 3.11), such Subsidiary Guarantor will be deemed released from
all its Subsidiary Guarantor obligations under all of its pledge of assets or other security interests which secure other indebtedness of the company will also terminate; provided, however, that any such termination will occur only to the
extent that all obligations of such Subsidiary Guarantor under the Senior Secured Credit Agreement and any other agreements relating to any other 

  

 
Indebtedness of the Company or its Restricted Subsidiaries will also terminate upon such release, sale or transfer. 
  
 (c) A Subsidiary Guarantor will be deemed released and relieved of its
obligations under this Indenture and its Subsidiary Guarantee without any further action required on the part of the Company or such Subsidiary Guarantor upon the designation of such Subsidiary Guarantor as an Unrestricted Subsidiary in accordance
with the terms of this Indenture. 
  
 SECTION 10.3. Limitation
of Subsidiary Guarantors’ Liability. Each Subsidiary Guarantor, and by its acceptance hereof each Holder, hereby confirm that it is the intention of all such parties that the guarantee by such Subsidiary Guarantor pursuant to its Subsidiary
Guarantee not constitute a fraudulent transfer or conveyance for purposes of the Federal Bankruptcy Code, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar Federal or state law. To effectuate the foregoing
intention, the Holders and each Subsidiary Guarantor hereby irrevocably agree that the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee will be limited to the maximum amount as will, after giving effect to all other contingent
and fixed liabilities (including, but not limited to, Guarantor Senior Indebtedness) of such Subsidiary Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the
obligations of such other Subsidiary Guarantor under its Subsidiary Guarantee or pursuant to Section 10.4 hereof, result in the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee not constituting such a fraudulent
conveyance or fraudulent transfer. This Section 10.3 is for the benefit of the creditors of each Subsidiary Guarantor. 
  
 SECTION 10.4. Contribution. In order to provide for just and equitable contribution among the Subsidiary Guarantors, the Subsidiary Guarantors
agree, that in the event any payment or distribution is made by any Subsidiary Guarantor (a “Funding Guarantor”) under its Subsidiary Guarantee, such Funding Guarantor will be entitled to a contribution from each other Subsidiary
Guarantor (if any) in a pro rata amount based on the Adjusted Net Assets of each Subsidiary Guarantor (including the Funding Guarantor) for all payments, damages and expenses incurred by that Funding Guarantor in discharging the Company’s
obligations with respect to the Securities or any other Subsidiary Guarantor’s obligations with respect to its Subsidiary Guarantee. 
  
 ARTICLE XI 
  
 Miscellaneous 
  
 SECTION 11.1. Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this Indenture by the TIA, the provision
required by the TIA shall control. Each Subsidiary Guarantor, in addition to performing its obligations under its Subsidiary Guarantee, shall perform such other obligations as may be imposed upon it with respect to this Indenture under the TIA.

  

 SECTION 11.2. Notices. Any notice or communication shall be in writing and delivered in person or
mailed by first-class mail addressed as follows: 
  
 if to the
Company: 
 Delta Petroleum Corporation 
 370 17th Street, Suite 4300 
 Denver, Colorado 80202 
 Attention: Chief Financial Officer and Treasurer 
  
 with a copy to: 
 Krys Boyle, P.C. 
 600 17th Street, #2700 South Tower 
 Denver, Colorado 80202 
 Attention: Ted Freedman 
  
 if to the Trustee: 
 U.S. BANK NATIONAL ASSOCIATION 
 950 17th Street, Suite 300 
 Denver, Colorado 80202 
 Attention: Corporate Trust Services 
  
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 
  
 Any notice or communication mailed to a registered Securityholder shall be
mailed to the Securityholder at the Securityholder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. Any notice or communication shall also be mailed to
any Person described in TIA § 313(c), to the extent required by the TIA. 
  
 Failure to mail a notice or communication to a Securityholder or any defect in it shall not affect its sufficiency with respect to other Securityholders. If a notice or communication is mailed in the manner provided
above, it is duly given, whether or not the addressee receives it. 
  
 SECTION 11.3. Communication by Holders with other Holders. Securityholders may communicate pursuant to TIA § 312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Company, the
Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
  
 SECTION 11.4. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take or refrain from taking any action under this Indenture, the Company shall
furnish to the Trustee: 
  

	 	(1)	 an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of the signers, all conditions 

  

	 	 
precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

  

	 	(2)	an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied
with. 

  
 SECTION 11.5. Statements Required in
Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture shall include: 
  

	 	(1)	a statement that the individual making such certificate or opinion has read such covenant or condition; 

  

	 	(2)	a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based;

  

	 	(3)	a statement that, in the opinion of such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and 

  

	 	(4)	a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with. 

  
 In giving such Opinion of Counsel, counsel may rely as to factual matters on
an Officers’ Certificate or on certificates of public officials. 
  
 SECTION 11.6. When Securities Disregarded. In determining whether the Holders of the required principal amount of Securities have concurred in any direction, waiver or consent, Securities owned by the Company or by any Affiliate of
the Company shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether a Trust Officer of the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which the
Trustee knows are so owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 
  
 SECTION 11.7. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by, or a
meeting of, Securityholders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
  
 SECTION 11.8. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or other day on which commercial banking institutions are
authorized or required to be closed in New York City. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record
date is a Legal Holiday, the record date shall not be affected. 
  

 SECTION 11.9. GOVERNING LAW. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION
11.10. No Recourse Against Others. An incorporator, director, officer, employee, stockholder or controlling person, as such, of the Company or any Subsidiary Guarantor shall not have any liability for any obligations of the Company or any
Subsidiary Guarantor under the Securities, this Indenture or the Subsidiary Guarantees or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Securityholder shall waive and release
all such liability. The waiver and release shall be part of the consideration for the issue of the Securities. 
  
 SECTION 11.11. Successors. All agreements of the Company in this Indenture and the Securities shall bind their respective successors. All
agreements of the Trustee in this Indenture shall bind its successors. 
  
 SECTION 11.12. Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this
Indenture. 
  
 SECTION 11.13. Qualification of Indenture.
The Company shall qualify this Indenture under the TIA in accordance with the terms and conditions of the Registration Rights Agreement and shall pay all reasonable costs and expenses (including attorneys’ fees and expenses for the Company, the
Trustee and the Holders) incurred in connection therewith, including, but not limited to, costs and expenses of qualification of this Indenture and the Securities and printing this Indenture and the Securities. The Trustee shall be entitled to
receive from the Company any such Officers’ Certificates or other documentation as it may reasonably request in connection with any such qualification of this Indenture under the TIA. 
  
 SECTION 11.14. Severability. In case any provision of this Indenture
or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  
 SECTION 11.15. Table of Contents; Headings. The table of contents,
cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions
hereof. 
  

  
 IN WITNESS WHEREOF, the
parties have caused this Indenture to be duly executed as of the date first written above. 
  

			
	Very truly yours,
	
	DELTA PETROLEUM CORPORATION
		
	By	 	 /s/ Roger A. Parker

	 	 	 Name: Roger A. Parker

	 	 	 Title:

  

			
	PIPER PETROLEUM COMPANY
		
	By	 	 /s/ Roger A. Parker

	 	 	 Name: Roger A. Parker

	 	 	 Title:

  

			
	DELTA EXPLORATION COMPANY, INC.
		
	By	 	 /s/ Roger A. Parker

	 	 	 Name: Roger A. Parker

	 	 	 Title:

  

			
	CASTLE TEXAS EXPLORATION LIMITED PARTNERSHIP
	
	By: Delta Petroleum Corporation, its sole general and limited partner
		
	By	 	 /s/ Roger A. Parker

	 	 	 Name: Roger A. Parker

	 	 	 Title:

  

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Seth Dodson

	 	 	 Name: Seth Dodson

	 	 	 Title: Assistant Vice President

  

  
 EXHIBIT A 
  
 [FORM OF FACE OF UNREGISTERED NOTE] 
  
 [Applicable Restricted Securities Legend] 
 [Depository Legend, if applicable] 
  

			
	No. [        ]	 	Principal Amount $[                    ]
	 	 	CUSIP NO. [                ]

  
 DELTA PETROLEUM
CORPORATION 
  
 7% Senior Notes due 2015 
  
 DELTA PETROLEUM CORPORATION, a Colorado corporation, promises to pay to
[                    ], or registered assigns, the principal sum of
[                    ] Dollars, on April 1, 2015. 
  
 Interest Payment Dates: April 1 and October 1 
 Record Dates: March 15 and September 15 
  
 Additional
provisions of this Security are set forth on the other side of this Security. 
  

 A-1 

  
 Date:
[            ] 
  

			
	DELTA PETROLEUM CORPORATION
		
	By:	 	 

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 U.S. BANK NATIONAL ASSOCIATION
 as Trustee,
certifies
 that this is one of
 the Securities
referred
 to in the Indenture.

		
	By	 	 
	 	 	 Authorized Officer

  

 A-2 

  
 [FORM OF REVERSE SIDE OF
UNREGISTERED NOTE] 
  
 7% Senior Notes due 2015 
  

	1.	Interest 

  
 DELTA PETROLEUM CORPORATION, a Colorado corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being
herein called the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown above. 
  
 The Company will pay interest semiannually on April 1 and October 1 of each year commencing October 1, 2005. Interest on the Securities will accrue from
the most recent date to which interest has been paid on the Securities or, if no interest has been paid, from [                ]. The Company shall pay interest
on overdue principal or premium, if any (plus interest on such interest to the extent lawful), at the rate borne by the Securities to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
  

	2.	Method of Payment 

  
 By no later than 10:00 a.m. (New York City time) on the date on which any principal of or interest on any Security is due and payable, the Company shall
irrevocably deposit with the Trustee or the Paying Agent money sufficient to pay such principal, premium, if any, and/or interest. The Company will pay interest (except Defaulted Interest) to the Persons who are registered Holders of Securities at
the close of business on the March 15 or September 15 next preceding the interest payment date even if Securities are cancelled, repurchased or redeemed after the record date and on or before the interest payment date. Holders must surrender
Securities to a Paying Agent to collect principal payments. The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and private debts. Payments in respect of
Securities represented by a Global Security (including principal, premium, if any, and interest) will be made by the transfer of immediately available funds to the accounts specified by The Depository Trust Company. The Company shall make all
payments in respect of a Definitive Security (including principal, premium, if any, and interest) at the office or agency of the Company maintained for such purpose in The City of New York, or at such other office or agency of the Company as may be
maintained for such purpose pursuant to the Indenture; provided, however, that, at the option of the Company, each installment of interest may be paid by (i) check mailed to addresses of the Persons entitled thereto as such addresses shall
appear on the Note Register or (ii) wire transfer to an account located in the United States maintained by the payee. 
  

	3.	Paying Agent and Registrar 

  
 Initially, U.S. BANK NATIONAL ASSOCIATION (the “Trustee”) will act as Trustee, Paying Agent and Registrar. The Company may appoint and
change any Paying Agent, Registrar or co-registrar without notice to any Securityholder. The Company or any of its Subsidiaries may act as Paying Agent, Registrar or co-registrar. 
  

 A-3 

	4.	Indenture 

  
 The Company issued the Securities under an Indenture dated as of March 15, 2005 (as it may be amended or supplemented from time to time in accordance with
the terms thereof, the “Indenture”), among the Company, the Subsidiary Guarantors and the Trustee. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “Trust Indenture Act”; provided, however, that in the event the Trust Indenture Act is amended after such date,
“Trust Indenture Act” shall mean, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended). Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Indenture. The
Securities are subject to all such terms, and Securityholders are referred to the Indenture and the Trust Indenture Act for a statement of those terms. 
  
 The Securities are general unsecured senior obligations of the Company. The aggregate principal amount of securities that may be authenticated and
delivered under the Indenture is unlimited. This Security is one of the 7% Senior Notes due 2015 referred to in the Indenture. The Securities include (i) $150,000,000 aggregate principal amount of the Company’s 7% Senior Notes due 2015 issued
under the Indenture on March 15, 2005 (herein called “Initial Securities”), (ii) if and when issued, additional 7% Senior Notes due 2015 of the Company that may be issued from time to time under the Indenture subsequent to March 15,
2005 (herein called “Additional Securities”) and (iii) if and when issued, the Company’s 7% Senior Notes due 2015 that may be issued from time to time under the Indenture in exchange for Initial Securities or Additional
Securities in an offer registered under the Securities Act as provided in the Registration Rights Agreement. The Initial Securities, Additional Securities and Exchange Securities are treated as a single class of securities under the Indenture. This
Indenture imposes certain limitations on, among other things, the Incurrence of Indebtedness by the Company and its Subsidiaries, the payment of dividends and other distributions on the Capital Stock of the Company and its Subsidiaries, the purchase
or redemption of Capital Stock of the Company, certain purchases or redemptions of Subordinated Indebtedness, the sale or transfer of assets and Capital Stock of Subsidiaries, certain sale/leaseback transactions involving the Company or any
Restricted Subsidiary, the issuance or sale of Capital Stock of Subsidiaries, the incurrence of certain Liens, certain payment guarantees, the business activities and investments of the Company and its Subsidiaries and transactions with Affiliates.
In addition, the Indenture limits the ability of the Company and its Restricted Subsidiaries to enter into agreements that restrict distributions and dividends from Restricted Subsidiaries. 
  
 To guarantee the due and punctual payment of the principal, premium, if any,
and interest on the Securities and all other amounts payable by the Company under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the
Securities and the Indenture, the Subsidiary Guarantors have unconditionally guaranteed (and future Subsidiary Guarantors, together with the Subsidiary Guarantors, will unconditionally guarantee), jointly and severally, such obligations on a
unsecured senior basis pursuant to the terms of the Indenture. 
  

 A-4 

	5.	Redemption 

  
 Except as set forth below, the Securities will not be redeemable at the option of the Company prior to April 1, 2010. On and after such date, the
Securities will be redeemable, at the Company’s option, in whole or in part, at any time upon not less than 30 nor more than 60 days prior notice mailed by first-class mail to each Holder’s registered address, at the following redemption
prices (expressed in percentages of principal amount), plus accrued and unpaid interest to the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date):

  
 If redeemed during the twelve-month period commencing on April
1 of the years set forth below: 
  

			
	 Period

	  	Redemption
Price

	 2010
	  	103.500%
	 2011
	  	102.333%
	 2012
	  	101.167%
	 2013 and thereafter
	  	100.000%

  
 In addition, at any
time and from time to time prior to April 1, 2008, the Company may redeem in the aggregate up to 35% of the original principal amount of the Securities with the Net Cash Proceeds of one or more Equity Offerings received by the Company at a
redemption price (expressed as a percentage of principal amount) of 107.000% plus accrued and unpaid interest, if any, to the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the
relevant interest payment date); provided, however, that there is a Public Market at the time of such Redemption; provided further, that at least 65% of the original principal amount of the Securities must remain outstanding after each
such redemption; provided further, that each such redemption occurs within 60 days of the date of closing of such Equity Offering. 
  
 In addition, the Securities may be redeemed, in whole or in part, at any time prior to April 1, 2010 at the option of the Company upon not less than 30
nor more than 60 days’ prior notice mailed by first-class mail to each Holder of Securities at its registered address, at a redemption price equal to 100% of the principal amount of the Securities redeemed plus the Applicable Premium as of, and
accrued and unpaid interest to, the applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date). 
  
 If the optional Redemption Date is on or after an interest record date and on
or before the related interest payment date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Security is registered at the close of business on such record date, and no additional interest will be payable to
Holders whose Securities will be subject to redemption by the Company. 
  

 A-5 

 In the case of any partial redemption, selection of the Securities for redemption will be made by the
Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed or, if the Securities are not listed, then on a pro rata basis, by lot or by such other method as the Trustee in
its sole discretion shall deem to be fair and appropriate, although no Securities of $1,000 in original principal amount or less will be redeemed in part. If any Security is to be redeemed in part only, the notice of redemption relating to such
Security shall state the portion of the principal amount thereof to be redeemed. A new Security in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Security.
On and after the Redemption Date, interest will cease to accrue on Securities or portions thereof called for redemption as long as the Company has deposited with the Paying Agent funds in satisfaction of the applicable redemption price pursuant to
the Indenture. 
  

	6.	Repurchase Provisions 

  
 (a) Upon a Change of Control each Holder of Securities will have the right to cause the Company to repurchase all or any part (equal to $1,000 or an
integral multiple thereof) of the Securities of such Holder at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of Holders of record on
the relevant record date to receive interest due on the relevant interest payment date) as provided in, and subject to the terms of, the Indenture. 
  
 (b) In the event of an Asset Disposition that requires the purchase of Securities pursuant to Section 3.8(b) of the Indenture, the Company will be
required to apply such Excess Proceeds to the repayment of the Securities and any Pari Passu Notes in accordance with the procedures set forth in Section 3.8 of the Indenture. 
  

	7.	Denominations; Transfer; Exchange 

  
 The Securities are in registered form without coupons in denominations of principal amount of $1,000 and whole multiples of $1,000. A Holder may transfer
or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees required by law or permitted by the Indenture.
The Registrar need not register the transfer of or exchange of any Security for a period beginning (i) 15 days before the selection of Securities to be repurchased or redeemed and ending at the close of business on the day of such selection (except,
in the case of Securities to be redeemed in part, the portion of the Security not to be redeemed) or (ii) 15 days before an interest payment date and ending on such interest payment date 
  

	8.	Persons Deemed Owners 

  
 The registered Holder of this Security may be treated as the owner of it for all purposes. 
  

 A-6 

	9.	Unclaimed Money 

  
 If money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at
its request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee for payment. 
  

	10.	Defeasance 

  
 Subject to certain conditions set forth in the Indenture, the Company at any time may terminate some or all of its obligations under the Securities and
the Indenture if the Company deposits with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Securities to redemption or maturity, as the case may be. 
  

	11.	Amendment, Waiver 

  
 Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended with the written consent of the Holders of at
least a majority in principal amount of the then outstanding Securities and (ii) any default (other than with respect to nonpayment or in respect of a provision that cannot be amended without the written consent of each Securityholder affected) or
noncompliance with any provision may be waived with the written consent of the Holders of a majority in principal amount of the then outstanding Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any
Securityholder, the Company, the Subsidiary Guarantors and the Trustee may amend the Indenture, the Securities or the Subsidiary Guarantees to cure any ambiguity, omission, defect or inconsistency, or provide for the assumption by a Successor
Company of an obligation of the Company or any Subsidiary Guarantor under the Indenture in compliance with Article IV of the Indenture, or to provide for uncertificated Securities in addition to or in place of certificated Securities, or to
add guarantees with respect to the Securities or release a Subsidiary Guarantor upon its designation as an Unrestricted Subsidiary in compliance with the Indenture, to secure the Securities, or to add additional covenants of the Company, or
surrender rights and powers conferred on the Company, or to comply with any request of the Commission in connection with qualifying the Indenture under the Trust Indenture Act, or to make any change that does not adversely affect the rights of any
Securityholder, or to provide for the issuance of Exchange Securities. 
  

	12.	Defaults and Remedies 

  
 Under the Indenture, Events of Default include (in summary form): (i) default for 30 days in payment of interest or additional interest when due on the
Securities; (ii) default in payment of principal or premium, if any, on the Securities at Stated Maturity, upon required repurchase or upon optional redemption pursuant to paragraphs 5 and 6 of the Securities, upon declaration or otherwise; (iii)
the failure by the Company or any Subsidiary Guarantor to comply with its obligations under Article IV of the Indenture; (iv) failure by the Company to comply for 30 days after notice with any of its obligations under the covenants described
under Sections 3.2 through 3.17 inclusive of the Indenture (in each case, other than a failure to purchase Securities, which failure shall constitute an Event of Default under clause (ii) above and other than a failure 

  

 A-7 

 
to comply with Article IV, which failure shall constitute an Event of Default under clause (iii) above); (v) the failure by the Company or any
Subsidiary Guarantor to comply for 60 days after notice with its other agreements contained in the Indenture or under the Securities (other than those referred to in (i), (ii), (iii) or (iv) above); (vi) default under any mortgage, indenture or
instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its
Restricted Subsidiaries), other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists, or is created after the date of this Indenture, which default: (a) is caused by a failure to pay
principal of, or interest or premium, if any, on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness (“payment default”); or (b) results in the acceleration of such Indebtedness prior to its
maturity (the “cross acceleration provision”); and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a payment default or the
maturity of which has been so accelerated, aggregates $10.0 million or more; (vii) certain events of bankruptcy, insolvency or reorganization of the Company or a Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of
the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary (the “bankruptcy provisions”); (viii) failure by the Company or any Significant
Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary to pay final judgments
aggregating in excess of $10.0 million (net of any amounts with respect to which a reputable and creditworthy insurance company has acknowledged liability for in writing), which judgments are not paid, discharged or stayed for a period of 60 days
(the “judgment default provision”); or (ix) any Subsidiary Guarantee of any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company
and its Restricted Subsidiaries), would constitute a Significant Subsidiary shall cease to be in full force and effect (except pursuant to the release or termination of any such Subsidiary Guarantee in accordance with this Indenture) or shall be
held to be null and void in a judicial proceeding; or any Subsidiary Guarantor that is a Significant Subsidiary or group of Subsidiary Guarantors that, taken together (as of the latest audited consolidated financial statements for the Company and
its Restricted Subsidiaries), would constitute a Significant Subsidiary shall assert that any its Subsidiary Guarantee is not enforceable or valid or otherwise denies or disaffirms its obligations under this Indenture or its Subsidiary Guarantee.
However, a default under clauses (iv) and (v) will not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities notify the Company and, in the case of a notice given by the
Holders, the Trustee of the default and the Company does not cure such default within the time specified in clauses (iv) and (v) hereof after receipt of such notice. 
  
 If an Event of Default occurs and is continuing (other than an Event of Default described in clause (vii) above), the
Trustee or the Holders of at least 25% in principal amount of the Securities may declare all the Securities to be due and payable. Certain events of bankruptcy or insolvency are Events of Default which will result in the Securities being due and
payable immediately upon the occurrence of such Events of Default. 
  

 A-8 

 Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture. The
Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in principal amount of the Securities may direct the Trustee in its exercise of
any trust or power. The Trustee may withhold from Securityholders notice of any continuing Default or Event of Default (except a Default or Event of Default in payment of principal or interest) if it determines that withholding notice is in their
interest. 
  

	13.	Trustee Dealings with the Company 

  
 Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner
or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its affiliates with the same rights it would have if it were not Trustee. 

 

	14.	No Recourse Against Others 

  
 An incorporator, director, officer, employee, stockholder or controlling person, as such, of the Company or any Subsidiary Guarantor shall not have any
liability for any obligations of the Company or any Subsidiary Guarantor under the Securities, the Indenture or the Subsidiary Guarantees or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a
Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
  

	15.	Authentication 

  
 This Security shall not be valid until an authorized signatory of the Trustee (or an authenticating agent acting on its behalf) manually signs the
certificate of authentication on the other side of this Security. 
  

	16.	Abbreviations 

  
 Customary abbreviations may be used in the name of a Securityholder or an assignee, such as TEN COM (= tenants in common), TEN ENT (= tenants by the
entirety), JT TEN (= joint tenants with rights of survivorship and not as tenants in common), CUST (= custodian) and U/G/M/A (= Uniform Gift to Minors Act). 
  

	17.	CUSIP Numbers 

  
 Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be
printed on the Securities and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Securityholders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as
contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
  

 A-9 

	18.	Governing Law 

  
 This Security shall be governed by, and construed in accordance with, the laws of the State of New York. 
  
 The Company will furnish to any Securityholder upon written request and
without charge to the Securityholder a copy of the Indenture, which has in it the text of this Security. Requests may be made to: 
  
 DELTA PETROLEUM CORPORATION 
 370 17th Street,
Suite 4300 
 Denver, Colorado 80202 
 Attention: Chief Financial Officer and Treasurer 
  

 A-10 

  
 ASSIGNMENT FORM 

 
 To assign this Security, fill in the form below: 
  
 I or we assign and transfer this Security to 
  
                                       
                                        
                                        
                                        
                                        
                                        
           
 (Print or type assignee’s name, address and zip code) 
  
                                       
                                        
                                        
                                        
                                        
                                        
           
 (Insert assignee’s soc. sec. or tax I.D. No.) 
  
 and irrevocably appoint
                     agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 
                                       
                                        
                                        
                                        
                                        
                                        
                    
  

					
	 Date:
                                
	  	 	  	Your Signature:
                                

  
 Signature Guarantee:                                  
                                        
                                        
                                        
                                        
                        
                                 (Signature must be guaranteed) 
  
                                       
                                        
                                        
                                        
                                        
                                        
                    
 Sign exactly as your name appears on
the other side of this Security. 
  
 The signature(s) should be guaranteed by an
eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
  
 In connection with any transfer or exchange of any of the Securities
evidenced by this certificate occurring prior to the date that is two years after the later of the date of original issuance of such Securities and the last date, if any, on which such Securities were owned by the Company or any Affiliate of the
Company, the undersigned confirms that such Securities are being: 
  
 CHECK ONE
BOX BELOW: 
  

	 	1 ̈	acquired for the undersigned’s own account, without transfer; or 

  

	 	2 ̈	transferred to the Company; or 

  

	 	3 ̈	transferred pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); or 

  

	 	4 ̈	transferred pursuant to an effective registration statement under the Securities Act; or 

  

	 	5 ̈	transferred pursuant to and in compliance with Regulation S under the Securities Act; or 

  

 A-11 

	 	6 ̈	transferred to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act), that has furnished to the Trustee a signed
letter containing certain representations and agreements (the form of which letter appears as Exhibit C of the Indenture); or 

  

	 	7 ̈	transferred pursuant to another available exemption from the registration requirements of the Securities Act of 1933. 

  
 Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any person other than the registered Holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Trustee or the Company may require, prior to registering any such transfer of the
Securities, in their sole discretion, such legal opinions, certifications and other information as the Trustee or the Company may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act of 1933, such as the exemption provided by Rule 144 under such Act. 
  

					
			
	  	 	 	 	  
	 	 	 	 	 Signature

	 Signature Guarantee:
	 	 	 	 
			
	  	 	 	 	  
	 (Signature must be guaranteed)
	 	 	 	 Signature

  

  
 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit
unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
  
 TO BE COMPLETED BY PURCHASER IF (1) OR (3) ABOVE IS CHECKED. 
  
 The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect
to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended, and is aware that the sale to it is being
made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the
transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

	
	
	  
	 Dated:

  

 A-12 

  
 [TO BE ATTACHED TO GLOBAL
SECURITIES] 
  
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY 
  
 The following increases or decreases in this Global
Security have been made: 
  

									
	 Date of Exchange

	  	 Amount of decrease in
Principal Amount of this
Global Security

	  	 Amount of increase in
Principal Amount of this
Global Security

	  	 Principal Amount of this
Global Security following
such decrease or increase

	  	 Signature of authorized
signatory of Trustee or
Securities Custodian

	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 

  

 A-13 

  
 OPTION OF HOLDER TO ELECT
PURCHASE 
  
 If you want to elect to have this Security purchased
by the Company pursuant to Section 3.8 or 3.10 of the Indenture, check either box: 
  

			
	  ̈
	  	 ̈
	 3.8
	  	3.10

  
 If you want to elect
to have only part of this Security purchased by the Company pursuant to Section 3.8 or 3.10 of the Indenture, state the amount in principal amount (must be integral multiple of $1,000):
$                         
  
 Date:                      Your Signature           
                                        
                                        
                                        
                                        
                     
 (Sign exactly as
your name appears on the other side of the Security) 
  
 Signature Guarantee:                                  
                                        
                                        
                                        
                                        
                        
 (Signature must be guaranteed) 
  
 The signature(s) should be guaranteed
by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
  

 A-14 

  
 EXHIBIT B 
  
 [FORM OF FACE OF REGISTERED NOTE] 
  
 [Depository Legend, if applicable] 
  

					
	No. [___]	  	 	  	Principal Amount $[___________]
	  	 	  	CUSIP NO. [________]

  
 DELTA PETROLEUM
CORPORATION 
  
 7% Senior Notes due 2015 
  
 DELTA PETROLEUM CORPORATION, a Colorado corporation, promises to pay to
[                        ], or registered assigns, the principal sum of
[                                ] Dollars, on April 1, 2015. 
  
 Interest Payment Dates: April 1 and October 1 
 Record Dates: March 15 and September 15 
  
 Additional provisions of this Security are set forth on the other side of this Security. 
  

 B-1 

  
 Date:
[                ] 
  

			
	DELTA PETROLEUM CORPORATION
		
	By:	 	 

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	U.S. BANK NATIONAL ASSOCIATION
as Trustee, certifies
that this is one of
the Securities referred
to in the Indenture.
		
	By	 	 
	 	 	 Authorized Officer

  

 B-2 

  
 [FORM OF REVERSE SIDE OF
REGISTERED NOTE] 
  
 7% Senior Notes due 2015 
  

	19.	Interest 

  
 DELTA PETROLEUM CORPORATION, a Colorado corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being
herein called the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown above. 
  
 The Company will pay interest semiannually on April 1 and October 1 of each year commencing October 1, 2005. Interest on the Securities will accrue from
the most recent date to which interest has been paid on the Securities or, if no interest has been paid, from [                    ]. The
Company shall pay interest on overdue principal or premium, if any (plus interest on such interest to the extent lawful), at the rate borne by the Securities to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve
30-day months. 
  

	20.	Method of Payment 

  
 By no later than 10:00 a.m. (New York City time) on the date on which any principal of or interest on any Security is due and payable, the Company shall
irrevocably deposit with the Trustee or the Paying Agent money sufficient to pay such principal, premium, if any, and/or interest. The Company will pay interest (except Defaulted Interest) to the Persons who are registered Holders of Securities at
the close of business on the March 15 or September 15 next preceding the interest payment date even if Securities are cancelled, repurchased or redeemed after the record date and on or before the interest payment date. Holders must surrender
Securities to a Paying Agent to collect principal payments. The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and private debts. Payments in respect of
Securities represented by a Global Security (including principal, premium, if any, and interest) will be made by the transfer of immediately available funds to the accounts specified by The Depository Trust Company. The Company shall make all
payments in respect of a Definitive Security (including principal, premium, if any, and interest) at the office or agency of the Company maintained for such purpose in The City of New York, or at such other office or agency of the Company as may be
maintained for such purpose pursuant to the Indenture; provided, however, that, at the option of the Company, each installment of interest may be paid by (i) check mailed to addresses of the Persons entitled thereto as such addresses shall
appear on the Note Register or (ii) wire transfer to an account located in the United States maintained by the payee. 
  
 21. Paying Agent and Registrar 
  
 Initially, U.S. BANK NATIONAL ASSOCIATION (the “Trustee”) will act as Trustee, Paying Agent and Registrar. The Company may appoint and
change any Paying Agent, Registrar or co-registrar without notice to any Securityholder. The Company or any of its Subsidiaries may act as Paying Agent, Registrar or co-registrar. 
  

 B-3 

	22.	Indenture 

  
 The Company issued the Securities under an Indenture dated as of March 15, 2005 (as it may be amended or supplemented from time to time in accordance with
the terms thereof, the “Indenture”), among the Company, the Subsidiary Guarantors and the Trustee. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “Trust Indenture Act”; provided, however, that in the event the Trust Indenture Act is amended after such date,
“Trust Indenture Act” shall mean, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended). Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Indenture. The
Securities are subject to all such terms, and Securityholders are referred to the Indenture and the Trust Indenture Act for a statement of those terms. 
  
 The Securities are general unsecured senior obligations of the Company. The aggregate principal amount of securities that may be authenticated and
delivered under the Indenture is unlimited. This Security is one of the 7% Senior Notes due 2015 referred to in the Indenture. The Securities include (i) $150,000,000 aggregate principal amount of the Company’s 7% Senior Notes due 2015 issued
under the Indenture on March 15, 2005 (herein called “Initial Securities”), (ii) if and when issued, additional 7% Senior Notes due 2015 of the Company that may be issued from time to time under the Indenture subsequent to March 15,
2005 (herein called “Additional Securities”) and (iii) if and when issued, the Company’s 7% Senior Notes due 2015 that may be issued from time to time under the Indenture in exchange for Initial Securities or Additional
Securities in an offer registered under the Securities Act as provided in the Registration Rights Agreement. The Initial Securities, Additional Securities and Exchange Securities are treated as a single class of securities under the Indenture. This
Indenture imposes certain limitations on, among other things, the Incurrence of Indebtedness by the Company and its Subsidiaries, the payment of dividends and other distributions on the Capital Stock of the Company and its Subsidiaries, the purchase
or redemption of Capital Stock of the Company, certain purchases or redemptions of Subordinated Indebtedness, the sale or transfer of assets and Capital Stock of Subsidiaries, certain sale/leaseback transactions involving the Company or any
Restricted Subsidiary, the issuance or sale of Capital Stock of Subsidiaries, the incurrence of certain Liens, certain payment guarantees, the business activities and investments of the Company and its Subsidiaries and transactions with Affiliates.
In addition, the Indenture limits the ability of the Company and its Restricted Subsidiaries to enter into agreements that restrict distributions and dividends from Restricted Subsidiaries. 
  
 To guarantee the due and punctual payment of the principal, premium, if any,
and interest on the Securities and all other amounts payable by the Company under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the
Securities and the Indenture, the Subsidiary Guarantors have unconditionally guaranteed (and future Subsidiary Guarantors, together with the Subsidiary Guarantors, will unconditionally guarantee), jointly and severally, such obligations on a
unsecured senior basis pursuant to the terms of the Indenture. 
  

 B-4 

	23.	Redemption 

  
 Except as set forth below, the Securities will not be redeemable at the option of the Company prior to April 1, 2010. On and after such date, the
Securities will be redeemable, at the Company’s option, in whole or in part, at any time upon not less than 30 nor more than 60 days prior notice mailed by first-class mail to each Holder’s registered address, at the following redemption
prices (expressed in percentages of principal amount), plus accrued and unpaid interest to the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date):

  
 If redeemed during the twelve-month period commencing on April
1 of the years set forth below: 
  

			
	 Period

	  	Redemption
Price

	 2010
	  	103.500%
	 2011
	  	102.333%
	 2012
	  	101.167%
	 2013 and thereafter
	  	100.000%

  
 In addition, at any
time and from time to time prior to April 1, 2008, the Company may redeem in the aggregate up to 35% of the original principal amount of the Securities with the Net Cash Proceeds of one or more Equity Offerings received by the Company at a
redemption price (expressed as a percentage of principal amount) of 107.000% plus accrued and unpaid interest, if any, to the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the
relevant interest payment date); provided, however, that there is a Public Market at the time of such Redemption; provided further, that at least 65% of the original principal amount of the Securities must remain outstanding after each
such redemption; provided further, that each such redemption occurs within 60 days of the date of closing of such Equity Offering. 
  
 In addition, the Securities may be redeemed, in whole or in part, at any time prior to April 1, 2010 at the option of the Company upon not less than 30
nor more than 60 days’ prior notice mailed by first-class mail to each Holder of Securities at its registered address, at a redemption price equal to 100% of the principal amount of the Securities redeemed plus the Applicable Premium as of, and
accrued and unpaid interest to, the applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date). 
  
 If the optional Redemption Date is on or after an interest record date and on
or before the related interest payment date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Security is registered at the close of business on such record date, and no additional interest will be payable to
Holders whose Securities will be subject to redemption by the Company. 
  

 B-5 

 In the case of any partial redemption, selection of the Securities for redemption will be made by the
Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed or, if the Securities are not listed, then on a pro rata basis, by lot or by such other method as the Trustee in
its sole discretion shall deem to be fair and appropriate, although no Securities of $1,000 in original principal amount or less will be redeemed in part. If any Security is to be redeemed in part only, the notice of redemption relating to such
Security shall state the portion of the principal amount thereof to be redeemed. A new Security in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Security.
On and after the Redemption Date, interest will cease to accrue on Securities or portions thereof called for redemption as long as the Company has deposited with the Paying Agent funds in satisfaction of the applicable redemption price pursuant to
the Indenture. 
  

	24.	Repurchase Provisions 

  
 (a) Upon a Change of Control each Holder of Securities will have the right to cause the Company to repurchase all or any part (equal to $1,000 or an
integral multiple thereof) of the Securities of such Holder at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of Holders of record on
the relevant record date to receive interest due on the relevant interest payment date) as provided in, and subject to the terms of, the Indenture. 
  
 (b) In the event of an Asset Disposition that requires the purchase of Securities pursuant to Section 3.8(b) of the Indenture, the Company will be
required to apply such Excess Proceeds to the repayment of the Securities and any Pari Passu Notes in accordance with the procedures set forth in Section 3.8 of the Indenture. 
  

	25.	Denominations; Transfer; Exchange 

  
 The Securities are in registered form without coupons in denominations of principal amount of $1,000 and whole multiples of $1,000. A Holder may transfer
or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees required by law or permitted by the Indenture.
The Registrar need not register the transfer of or exchange of any Security for a period beginning (i) 15 days before the selection of Securities to be repurchased or redeemed and ending at the close of business on the day of such selection (except,
in the case of Securities to be redeemed in part, the portion of the Security not to be redeemed) or (ii) 15 days before an interest payment date and ending on such interest payment date 
  

	26.	Persons Deemed Owners 

  
 The registered Holder of this Security may be treated as the owner of it for all purposes. 
  

 B-6 

	27.	Unclaimed Money 

  
 If money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at
its request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee for payment. 
  

	28.	Defeasance 

  
 Subject to certain conditions set forth in the Indenture, the Company at any time may terminate some or all of its obligations under the Securities and
the Indenture if the Company deposits with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Securities to redemption or maturity, as the case may be. 
  

	29.	Amendment, Waiver 

  
 Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended with the written consent of the Holders of at
least a majority in principal amount of the then outstanding Securities and (ii) any default (other than with respect to nonpayment or in respect of a provision that cannot be amended without the written consent of each Securityholder affected) or
noncompliance with any provision may be waived with the written consent of the Holders of a majority in principal amount of the then outstanding Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any
Securityholder, the Company, the Subsidiary Guarantors and the Trustee may amend the Indenture, the Securities or the Subsidiary Guarantees to cure any ambiguity, omission, defect or inconsistency, or provide for the assumption by a Successor
Company of an obligation of the Company or any Subsidiary Guarantor under the Indenture in compliance with Article IV of the Indenture, or to provide for uncertificated Securities in addition to or in place of certificated Securities, or to
add guarantees with respect to the Securities or release a Subsidiary Guarantor upon its designation as an Unrestricted Subsidiary in compliance with the Indenture, to secure the Securities, or to add additional covenants of the Company, or
surrender rights and powers conferred on the Company, or to comply with any request of the Commission in connection with qualifying the Indenture under the Trust Indenture Act, or to make any change that does not adversely affect the rights of any
Securityholder, or to provide for the issuance of Exchange Securities. 
  

	30.	Defaults and Remedies 

  
 Under the Indenture, Events of Default include (in summary form): (i) default for 30 days in payment of interest or additional interest when due on the
Securities; (ii) default in payment of principal or premium, if any, on the Securities at Stated Maturity, upon required repurchase or upon optional redemption pursuant to paragraphs 5 and 6 of the Securities, upon declaration or otherwise; (iii)
the failure by the Company or any Subsidiary Guarantor to comply with its obligations under Article IV of the Indenture; (iv) failure by the Company to comply for 30 days after notice with any of its obligations under the covenants described
under Sections 3.2 through 3.17 inclusive of the Indenture (in each case, other than a failure to purchase Securities, which failure shall constitute an Event of Default under clause (ii) above and other than a failure 

  

 B-7 

 
to comply with Article IV, which failure shall constitute an Event of Default under clause (iii) above); (v) the failure by the Company or any
Subsidiary Guarantor to comply for 60 days after notice with its other agreements contained in the Indenture or under the Securities (other than those referred to in (i), (ii), (iii) or (iv) above); (vi) default under any mortgage, indenture or
instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its
Restricted Subsidiaries), other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists, or is created after the date of this Indenture, which default: (a) is caused by a failure to pay
principal of, or interest or premium, if any, on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness (“payment default”); or (b) results in the acceleration of such Indebtedness prior to its
maturity (the “cross acceleration provision”); and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a payment default or the
maturity of which has been so accelerated, aggregates $10.0 million or more; (vii) certain events of bankruptcy, insolvency or reorganization of the Company or a Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of
the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary (the “bankruptcy provisions”); (viii) failure by the Company or any Significant
Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary to pay final judgments
aggregating in excess of $10.0 million (net of any amounts with respect to which a reputable and creditworthy insurance company has acknowledged liability for in writing), which judgments are not paid, discharged or stayed for a period of 60 days
(the “judgment default provision”); or (ix) any Subsidiary Guarantee of any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company
and its Restricted Subsidiaries), would constitute a Significant Subsidiary shall cease to be in full force and effect (except pursuant to the release or termination of any such Subsidiary Guarantee in accordance with this Indenture) or shall be
held to be null and void in a judicial proceeding; or any Subsidiary Guarantor that is a Significant Subsidiary or group of Subsidiary Guarantors that, taken together (as of the latest audited consolidated financial statements for the Company and
its Restricted Subsidiaries), would constitute a Significant Subsidiary shall assert that any its Subsidiary Guarantee is not enforceable or valid or otherwise denies or disaffirms its obligations under this Indenture or its Subsidiary Guarantee.
However, a default under clauses (iv) and (v) will not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities notify the Company and, in the case of a notice given by the
Holders, the Trustee of the default and the Company does not cure such default within the time specified in clauses (iv) and (v) hereof after receipt of such notice. 
  
 If an Event of Default occurs and is continuing (other than an Event of Default described in clause (vii) above), the
Trustee or the Holders of at least 25% in principal amount of the Securities may declare all the Securities to be due and payable. Certain events of bankruptcy or insolvency are Events of Default which will result in the Securities being due and
payable immediately upon the occurrence of such Events of Default. 
  

 B-8 

 Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture. The
Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in principal amount of the Securities may direct the Trustee in its exercise of
any trust or power. The Trustee may withhold from Securityholders notice of any continuing Default or Event of Default (except a Default or Event of Default in payment of principal or interest) if it determines that withholding notice is in their
interest. 
  

	31.	Trustee Dealings with the Company 

  
 Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner
or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its affiliates with the same rights it would have if it were not Trustee. 

 

	32.	No Recourse Against Others 

  
 An incorporator, director, officer, employee, stockholder or controlling person, as such, of the Company or any Subsidiary Guarantor shall not have any
liability for any obligations of the Company or any Subsidiary Guarantor under the Securities, the Indenture or the Subsidiary Guarantees or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a
Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
  

	33.	Authentication 

  
 This Security shall not be valid until an authorized signatory of the Trustee (or an authenticating agent acting on its behalf) manually signs the
certificate of authentication on the other side of this Security. 
  

	34.	Abbreviations 

  
 Customary abbreviations may be used in the name of a Securityholder or an assignee, such as TEN COM (= tenants in common), TEN ENT (= tenants by the
entirety), JT TEN (= joint tenants with rights of survivorship and not as tenants in common), CUST (= custodian) and U/G/M/A (= Uniform Gift to Minors Act). 
  

	35.	CUSIP Numbers 

  
 Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be
printed on the Securities and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Securityholders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as
contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
  

 B-9 

	36.	Governing Law 

  
 This Security shall be governed by, and construed in accordance with, the laws of the State of New York. 
  
 The Company will furnish to any Securityholder upon written request and
without charge to the Securityholder a copy of the Indenture, which has in it the text of this Security. Requests may be made to: 
  
 DELTA PETROLEUM CORPORATION 
 370 17th Street,
Suite 4300 
 Denver, Colorado 80202 
 Attention: Chief Financial Officer and Treasurer 
  

 B-10 

  
 ASSIGNMENT FORM 

 
 To assign this Security, fill in the form below: 
  
 I or we assign and transfer this Security to 
  
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (Print or type
assignee’s name, address and zip code) 
  
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (Insert
assignee’s soc. sec. or tax I.D. No.) 
  
 and irrevocably appoint
                     agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 
  

  
 Date:                                  Your Signature
                                        
                                        
                                        
                                        
                 
  
 Signature Guarantee:                                  
                                        
                                        
                                        
                                        
                        
                         (Signature must be guaranteed) 
  
                                       
                                        
                                        
                                        
                                        
                                        
                    
 Sign exactly as your name appears on
the other side of this Security. 
  
 The signature(s) should be guaranteed by an
eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
  

 B-11 

  
 [TO BE ATTACHED TO GLOBAL
SECURITIES] 
  
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY 
  
 The following increases or decreases in this Global
Security have been made: 
  

									
	 Date of Exchange

	  	 Amount of decrease in Principal
Amount of this Global Security

	  	 Amount of increase in Principal
Amount of this Global Security

	  	 Principal Amount of this
Global Security following
such decrease or increase

	  	 Signature of authorized
signatory of Trustee or
Securities Custodian

	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 

  

 B-12 

  
 OPTION OF HOLDER TO ELECT
PURCHASE 
  
 If you want to elect to have this Security purchased
by the Company pursuant to Section 3.8 or 3.10 of the Indenture, check either box: 
  

			
	  ̈
	  	 ̈
	 3.8
	  	3.10

  
 If you want to elect
to have only part of this Security purchased by the Company pursuant to Section 3.8 or 3.10 of the Indenture, state the amount in principal amount (must be integral multiple of $1,000):
$                     
  
 Date:                      Your Signature:           
                                        
                                        
                                        
                                        
                    
 (Sign exactly as your
name appears on the other side of the Security) 
  
 Signature Guarantee:                                  
                                        
                                        
                                        
                                        
                        
 (Signature must be guaranteed) 
  
 The signature(s) should be guaranteed
by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
  

 B-13 

  
 EXHIBIT C 
  
 [FORM OF CERTIFICATE TO BE DELIVERED IN CONNECTION WITH TRANSFERS TO

 INSTITUTIONAL ACCREDITED INVESTORS]. 
  

					
	 	  	[Date]	  	 
	DELTA PETROLEUM CORPORATION	  	 
	c/o U.S. BANK NATIONAL ASSOCIATION	  	 
	950 17th Street, Suite 300	  	 
	Denver, Colorado 80202	  	 
	Attention: Corporate Trust Services	  	 

  
 Ladies and Gentlemen: 
  
 This certificate is delivered to request a transfer of
$                     principal amount of the 7% Senior Notes due 2015 (the “Securities”) of DELTA PETROLEUM CORPORATION (the
“Company”). 
  
 Upon transfer, the Securities
would be registered in the name of the new beneficial owner as follows: 
  
 Name: _________________________________ 
  
 Address:
______________________________ 
  
 Taxpayer ID Number:
_____________________ 
  
 The undersigned represents and warrants
to you that: 
  
 1. We are an institutional “accredited
investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)) purchasing for our own account or for the account of such an institutional “accredited
investor” at least $250,000 principal amount of the Securities, and we are acquiring the Securities not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and
experience in financial and business matters as to be capable of evaluating the merits and risk of our investment in the Securities and we invest in or purchase securities similar to the Securities in the normal course of our business. We and any
accounts for which we are acting are each able to bear the economic risk of our or its investment. 
  
 2. We understand that the Securities have not been registered under the Securities Act and, unless so registered, may not be sold except as permitted in
the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Securities to offer, sell or otherwise transfer such Securities prior to the date that is two years after the later of the date of
original issue and the last date on which the Company or any affiliate of the Company was the owner of such Securities (or any predecessor thereto) (the “Resale Restriction Termination Date”) only (a) to the Company, (b) pursuant to
a registration 

  

 C-1 

 
statement which has been declared effective under the Securities Act, (c) in a transaction complying with the requirements of Rule 144A under the Securities
Act, to a person we reasonably believe is a qualified institutional buyer under Rule 144A (a “QIB”) that purchases for its own account or for the account of a QIB and to whom notice is given that the transfer is being made in
reliance on Rule 144A, (d) pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act, (e) to an institutional “accredited investor” within the meaning of Rule 501(a)(1),
(2), (3) or (7) under the Securities Act that is purchasing for its own account or for the account of such an institutional “accredited investor,” in each case in a minimum principal amount of Securities of $250,000 or (f) pursuant to any
other available exemption from the registration requirements of the Securities Act, subject in each of the foregoing cases to any requirement of law that the disposition of our property or the property of such investor account or accounts be at all
times within our or their control and in compliance with any applicable state securities laws. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the
Securities is proposed to be made pursuant to clause (e) above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Company and the Trustee, which
shall provide, among other things, that the transferee is an institutional “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act) and that it is acquiring such Securities for investment
purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Company and the Trustee reserve the right prior to any offer, sale or other transfer prior to the Resale Restriction Termination Date of the
Securities pursuant to clauses (d), (e) or (f) above to require the delivery of an opinion of counsel, certifications and/or other information satisfactory to the Company and the Trustee. 
  

			
		
	TRANSFEREE:	 	 

			
	 BY:
	 	 

  

 C-2 

  
 EXHIBIT D 
  
 [FORM OF CERTIFICATE TO BE DELIVERED IN CONNECTION WITH TRANSFERS 

PURSUANT TO REGULATION S] 
  

					
	 	  	[Date]	  	 
	DELTA PETROLEUM CORPORATION	  	 
	c/o U.S. BANK NATIONAL ASSOCIATION	  	 
	950 17th Street, Suite 300	  	 
	Denver, Colorado 80202	  	 
	Attention: Corporate Trust Services	  	 

  

	 	Re:	DELTA PETROLEUM CORPORATION  

	 	 	7% Senior Notes due 2015 (the “Securities”) 

  
 Ladies and Gentlemen: 
  
 In connection with our proposed sale of
$                     aggregate principal amount of the Securities, we confirm that such sale has been effected pursuant to and in accordance
with Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we represent that: 
  
 (a) the offer of the Securities was not made to a person in the United States; 
  
 (b) either (i) at the time the buy order was originated, the
transferee was outside the United States or we and any person acting on our behalf reasonably believed that the transferee was outside the United States or (ii) the transaction was executed in, on or through the facilities of a designated off-shore
securities market and neither we nor any person acting on our behalf knows that the transaction has been pre-arranged with a buyer in the United States; 
  
 (c) no directed selling efforts have been made in the United States in contravention of the requirements of Rule 903(b) or Rule 904(b) of
Regulation S, as applicable; and 
  
 (d) the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act. 
  
 In addition, if the sale is made during a restricted period and the provisions of Rule 903(c)(3) or Rule 904(c)(1) of Regulation S are applicable thereto,
we confirm that such sale has been made in accordance with the applicable provisions of Rule 903(c)(3) or Rule 904(c)(1), as the case may be. 
  
 You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party
in any administrative or 

  

 D-1 

 
legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this certificate have the meanings set forth in Regulation S.

  

			
	 Very truly yours,

	
	 [Name of Transferor]

		
	By:	 	 
	
	 
	Authorized Signature

  

 D-2 

  
 EXHIBIT E 
  
 FORM OF SUBSIDIARY GUARANTEE 
  
 This Supplemental Indenture, dated as of
                     (this “Supplemental Indenture” or “Guarantee”), among [name of future Subsidiary Guarantor]
(the “Guarantor”), Delta Petroleum Corporation (together with its successors and assigns, the “Company”), each other then existing Subsidiary Guarantor under the Indenture referred to below, and U.S. Bank National
Association, as Trustee under the Indenture referred to below. 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Company, the
Subsidiary Guarantors and the Trustee have heretofore executed and delivered an Indenture, dated as of March 15, 2005 (as amended, supplemented, waived or otherwise modified, the “Indenture”), providing for the issuance of an
aggregate principal amount of $150,000,000 of 7% Senior Notes due 2014 of the Company (the “Securities”); 
  
 WHEREAS, Section 3.12 of the Indenture provides that the Company is required to cause each Restricted Subsidiary other than a Foreign Subsidiary
created or acquired by the Company execute and deliver to the Trustee a Subsidiary Guarantee pursuant to which such Subsidiary Guarantor will unconditionally Guarantee, on a joint and several basis with the other Subsidiary Guarantors, the full and
prompt payment of the principal of, premium, if any, and interest on the Securities on a senior basis; and 
  
 WHEREAS, pursuant to Section 9.1 of the Indenture, the Company, the Subsidiary Guarantors and the Trustee are authorized to execute and deliver
this Supplemental Indenture to amend the Indenture, without the consent of any Securityholder; 
  
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guarantor, the Company, the other Subsidiary Guarantors and the Trustee
mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows: 
  

 E-1 

 ARTICLE I 
  
 Definitions 
  
 SECTION 1.1 Defined Terms. As used in this Subsidiary Guarantee, terms defined in the Indenture or in the preamble or recital hereto are used
herein as therein defined, except that the term “Holders” in this Guarantee shall refer to the term “Securityholders” as defined in the Indenture and the Trustee acting on behalf or for the benefit of such Holders. The
words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. 
  
 ARTICLE II 
  
 Agreement to be Bound; Guarantee 
  
 SECTION 2.1 Agreement to be Bound. The Guarantor hereby becomes a party to the Indenture, as a Subsidiary Guarantor
and as such will have all of the rights and be subject to all of the obligations and agreements of a Subsidiary Guarantor under the Indenture. The Guarantor agrees to be bound by all of the provisions of the Indenture applicable to a Subsidiary
Guarantor and to perform all of the obligations and agreements of a Subsidiary Guarantor under the Indenture. 
  
 SECTION 2.2 Guarantee. The Guarantor hereby fully, unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, jointly
and severally with each other Subsidiary Guarantor, to each Holder of the Securities and the Trustee, the full and punctual payment when due, whether at maturity, by acceleration, by redemption or otherwise, of the Obligations pursuant to Article
X of the Indenture on a senior basis. 
  
 ARTICLE III

  
 Miscellaneous 
  
 SECTION 3.1 Notices. All notices and other communications to the
Guarantor shall be given as provided in the Indenture to the Guarantor, at its address set forth below, with a copy to the Company as provided in the Indenture for notices to the Company. 
  
 SECTION 3.2 Parties. Nothing expressed or mentioned herein is intended or shall be construed to give any Person, firm
or corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or any provision herein or therein contained. 
  
 SECTION 3.3 Governing Law. This Supplemental Indenture shall be
governed by, and construed in accordance with, the laws of the State of New York. 
  

 E-2 

 SECTION 3.4 Severability Clause. In case any provision in this Supplemental Indenture shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity, illegality
or unenforceability. 
  
 SECTION 3.5 Ratification of Indenture;
Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. The Trustee makes no representation or warranty as to the validity or
sufficiency of this Supplemental Indenture. 
  
 SECTION 3.6
Counterparts. The parties hereto may sign one or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement. 
  
 SECTION 3.7 Headings. The headings of the Articles and the sections in this Guarantee are for convenience of
reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written. 
  

					
	 [SUBSIDIARY GUARANTOR],

	 as a Subsidiary Guarantor

		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	 DELTA PETROLEUM CORPORATION

		
	By	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	 PIPER PETROLEUM COMPANY

		
	By	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

 E-3 

					
	 DELTA EXPLORATION COMPANY, INC.

		
	By	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	CASTLE TEXAS EXPLORATION LIMITED PARTNERSHIP
		
	By:	 	[            ], its general partner
		
	By	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

 E-4 

  
 SCHEDULE 3.9 
  
 EXISTING AFFILIATE TRANSACTIONS 
  

	1.	Agreement between Delta Petroleum Corporation, Roger A. Parker and Aleron H. Larson, Jr. dated November 1, 1999; 

  

	2.	Agreement between Delta Petroleum Corporation and Amber Resources Company dated July 1, 2001; 

  

	3.	Purchase and Sale Agreement with Edward Mike Davis and Edward Mike Davis, L.L.C. dated August 1, 2003, and the First, Second, Third and Fourth Amendments thereto;

  

	4.	Purchase and Sale Agreement dated June 14, 2004 with Edward Mike Davis and entities controlled by him, and the First Amendment thereto; and 

  

	5.	Agreements pertaining to a 1% overriding royalty interest held by Roger A. Parker and Aleron H. Larson, Jr. in certain of the Company’s wells as disclosed in the Company’s
filings with the United States Securities and Exchange Commission. 

  

 E-1Second Amendment to Credit Agreement

 EXHIBIT 10.1 
  
 SECOND AMENDMENT TO CREDIT AGREEMENT 
  
 This Second Amendment to Credit Agreement (this “Second Amendment”), dated as of March 15, 2005 (the
“Effective Date”), is by and among DELTA PETROLEUM CORPORATION, a Colorado corporation (“Borrower”), JPMORGAN CHASE BANK, N.A., successor by merger to Bank One, NA (Main Office Chicago),
a national banking association, as Administrative Agent (“Administrative Agent”), and each of the financial institutions a party hereto as Banks (hereinafter collectively referred to as “Banks,” and
individually, “Bank”). 
  
 W I T N E S S
E T H: 
  
 WHEREAS, Borrower, Administrative Agent, JPMorgan
Chase Bank, N.A., successor by merger to Bank One, NA (Main Office Chicago), Bank of Oklahoma, N.A., U.S. Bank National Association and Hibernia National Bank (hereinafter collectively referred to as “Existing Banks,” and
individually, “Existing Bank”) are parties to that certain Credit Agreement dated as of November 5, 2004 (as heretofore amended, the “Credit Agreement”) (unless otherwise defined herein, all terms used
herein with their initial letter capitalized shall have the meaning given such terms in the Credit Agreement, as amended hereby); and 
  
 WHEREAS, pursuant to the Credit Agreement, Existing Banks have made revolving loans to Borrower; 
  
 WHEREAS, in connection with the execution of this Second Amendment, certain
of the Existing Banks (herein referred to as “Assigning Banks”) have entered into Assignment and Acceptance Agreements with Comerica Bank and Bank of Scotland (herein referred to as “Assignee Banks”),
pursuant to which such Assigning Banks assigned to Assignee Banks, and Assignee Banks acquired from such Assigning Banks (as applicable), a portion of each such Assigning Bank’s Commitments and a portion of the Revolving Loans and Letter of
Credit Exposure held by each such Assigning Bank under the Credit Agreement; and 
  
 WHEREAS, Schedule 1.1 attached hereto reflects the Commitments of each Bank after giving effect to the Assignment and Acceptance Agreements described above; and 
  
 WHEREAS, Borrower has designated Castle Texas Exploration Limited
Partnership, a Texas limited partnership (“Castle”), as a “Restricted Subsidiary” under the Credit Agreement; and 
  
 WHEREAS, Borrower has requested that Banks (i) amend certain terms of the Credit Agreement in certain respects, (ii) establish a Borrowing Base of
$60,000,000 to be effective as of the Effective Date and continuing until the next Redetermination or other adjustment (as provided in the Credit Agreement) of the Borrowing Base thereafter, and (iii) consent to certain transactions more
particularly described in Section 3 hereof; and 
  

 1 

 WHEREAS, subject to and upon the terms and conditions set forth herein, Banks have agreed to
Borrower’s requests. 
  
 NOW THEREFORE, for and in
consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, Borrower, Administrative Agent and each Bank hereby agree as
follows: 
  
 SECTION 1. Amendments. In reliance on
the representations, warranties, covenants and agreements contained in this Second Amendment, and subject to the satisfaction of each condition precedent set forth in Section 4 hereof, the Credit Agreement is hereby amended effective as of
the Effective Date in the manner provided in this Section 1. 
  
 1.1 Amendment to Definitions. The definitions of “Commitment Fee Percentage,” “Letter of Credit Fee,” “Loan Papers,”
“Permitted Senior Unsecured Debt,” “Redetermination,” “Redetermination Date,” “Restricted Payment,” “Restricted Subsidiary,”
“Scheduled Redetermination,” “Special Redetermination” and “Unrestricted Subsidiary” contained in Section 1.1 of the Credit Agreement shall be amended to read in full as
follows: 
  
 “Commitment Fee
Percentage” means, on any date, the percentage determined by reference to the ratio of Outstanding Credit to the Borrowing Base on such date in accordance with the table below: 
  

			
	 Ratio of Outstanding Credit to
Borrowing Base

	  	 Commitment Fee
Percentage

	 > 1.0 to 1
	  	0.500%
	 3 .90 to 1
and £ 1.0 to 1
	  	0.500%
	 3 .75 to 1
and < .90 to 1
	  	0.375%
	 3 .50 to 1
and < .75 to 1
	  	0.375%
	 < .50 to 1
	  	0.300%

  
 “Letter of Credit Fee” means, with respect to any Letter of Credit issued hereunder, a fee in an amount equal to the greater of (a) $500, or (b) a percentage of the stated amount of such Letter of Credit (calculated
on a per annum basis based on the stated term of such Letter of Credit) determined by reference to the ratio of the Outstanding Credit to the Borrowing Base in effect on the date such Letter of Credit is issued in accordance with the table below:

  

			
	 Ratio of Outstanding Credit to
Borrowing Base

	  	 Per Annum Letter of Credit Fee
Percentage

	 > 1.0 to 1
	  	2.750%
	 3 .90 to 1
and £ 1.0 to 1
	  	2.250%
	 3. 75 to 1
and < .90 to 1
	  	2.000%
	 3. 50 to 1
and < .75 to 1
	  	1.750%
	 < .50 to 1
	  	1.500%

  

 2 

 “Loan Papers” means this Agreement, the First Amendment, the
Second Amendment, the Notes, each Facility Guaranty which may now or hereafter be executed, each Borrower Pledge Agreement which may now or hereafter be executed, each Subsidiary Pledge Agreement which may now or hereafter be executed, the Existing
Mortgages (as amended by the Assignment and Amendment to Mortgages), the Assignments and Amendments to Mortgages, all Mortgages now or at any time hereafter delivered pursuant to Section 5.1, all Letters of Credit, and all other certificates,
documents or instruments delivered in connection with this Agreement, as the foregoing may be amended from time to time. 
  
 “Permitted Senior Unsecured Debt” means senior unsecured Debt of Borrower resulting from the issuance by Borrower
of its senior unsecured notes in an aggregate outstanding principal balance at any time of not greater than $150,000,000, and which (a) has a coupon rate of not greater than nine percent (9%), (b) has a due date not earlier than April 1, 2015, (c)
is not subject to negative covenants or events of default (or other provisions which have the same effect as negative covenants or events of default) which are more restrictive on Borrower than those set forth in the Offering Memorandum, and (d)
except in connection with a “change of control” put option or certain other triggering events relative to asset dispositions as set forth in the Offering Memorandum, does not provide for or otherwise require any mandatory redemption,
repayment, defeasance, repurchase or other amortization prior to scheduled maturity. 
  
 “Redetermination” means any Scheduled Redetermination, Special Redetermination, Manti Redetermination, or other
redetermination of the Borrowing Base pursuant to Section 4.4. Notwithstanding anything to the contrary contained herein, no redetermination of the Borrowing Base pursuant to Section 4.4 shall be deemed or construed to be a Special
Redetermination. 
  
 “Redetermination
Date” means (a) with respect to any Scheduled Redetermination, each April 1 and October 1, commencing October 1, 2005, (b) with respect to any Special Redetermination, the first day of the first month which is not less than twenty (20)
Domestic Business Days following the date of a request for a Special Redetermination, (c) with respect to any redetermination of the Borrowing Base pursuant to Section 4.4, the date of the consummation of any applicable Asset Disposition, and
(d) with respect to any Manti Redetermination, each Manti Redetermination Date. The Closing Date and the Effective Date (as 

  

 3 

 
defined in the Second Amendment) shall also constitute Redetermination Dates for purposes of this Agreement. 
  
 “Restricted Payment” means, with
respect to any Person, (a) any Distribution by such Person, (b) any capital contribution, loan or advance by any Credit Party to any Unrestricted Subsidiary, (c) the issuance of a Guarantee by any Credit Party with respect to any Debt or other
obligation of any Unrestricted Subsidiary, other than Guarantees of Permitted Senior Unsecured Debt permitted by Section 9.1(e) hereof, (d) the retirement, redemption, defeasance, repurchase or prepayment prior to scheduled maturity by such
Person or any Affiliate of such Person of any Debt of such Person, or (e) the retirement, redemption or payment by Borrower or any Affiliate of Borrower of any part of the principal of the Permitted Senior Unsecured Debt at any time prior to the
termination of all Commitments and the payment and performance in full of the Obligations. 
  
 “Restricted Subsidiary” means, as of the Effective Date (as defined in the Second Amendment), DEC, Castle and
Piper, and shall also mean any other Subsidiary of Borrower which Borrower hereafter designates as a “Restricted Subsidiary;” provided, that, no Subsidiary of Borrower will be a Restricted Subsidiary unless (a) one hundred
percent (100%) of its issued and outstanding Equity has been pledged to Administrative Agent to secure the Obligations pursuant to a Borrower Pledge Agreement or a Subsidiary Pledge Agreement, and (b) it has executed a Facility Guaranty. 

 
 “Scheduled Redetermination” means
any Redetermination of the Borrowing Base pursuant to Section 4.2. 
  
 “Special Redetermination” means any Redetermination of the Borrowing Base pursuant to Section 4.3. 
  
 “Unrestricted Subsidiary” means any Subsidiary of Borrower which is not a Restricted
Subsidiary and shall include, as of the Effective Date (as defined in the Second Amendment), Amber, Big Dog and Shark. 
  
 1.2 Additional Definitions. Section 1.1 of the Credit Agreement shall be amended to add the following definitions to such
Section: 
  
 “Offering
Memorandum” means that certain preliminary offering memorandum dated February 25, 2005 relating to the Permitted Senior Unsecured Debt. 
  
 “Second Amendment” means that certain Second Amendment to Credit Agreement dated as of March 15, 2005, among
Borrower, Administrative Agent and Banks party thereto. 
  
 1.3 Deletion of Definitions. Section 1.1 of the Credit Agreement shall be amended to delete the following definitions from such Section: “Conforming Borrowing  

  

 4 

 
Base,” “Debt Issuance Reduction Amount,” “Mandatory Debt Issuance Redetermination” and
“Title Approved Properties.” 
  
 1.4 Amendment to Borrowing Base Provisions. Article IV of the Credit Agreement shall be amended and restated to read in full as follows: 
  
 “ARTICLE IV 
 BORROWING BASE 
  
 Section 4.1 Reserve Report; Proposed Borrowing Base. The aggregate amount of credit available to Borrower under this Agreement shall be limited by a Borrowing Base (herein so called) which shall be determined by Banks
at the times and in accordance with the standards and procedures set forth in this Article IV. As soon as available and in any event by February 28 and August 31 of each year, commencing August 31, 2005, Borrower shall deliver to
Administrative Agent and each Bank a Reserve Report prepared as of the immediately preceding December 31 and June 30, respectively. Simultaneously with the delivery to Administrative Agent and each Bank of each Reserve Report, Borrower shall notify
Administrative Agent and each Bank of the amount of the Borrowing Base which Borrower requests become effective on the next Redetermination Date (or such date promptly following such Redetermination Date as Required Banks shall elect). 

 
 Section 4.2 Scheduled Redeterminations of
the Borrowing Base; Procedures and Standards. Based in part on the Reserve Reports made available to Banks pursuant to Section 4.1, Banks shall redetermine the Borrowing Base on or prior to the next Redetermination Date (or such date
promptly thereafter as reasonably possible based on the engineering and other information available to Banks). Any Borrowing Base which becomes effective as a result of any Redetermination of the Borrowing Base shall be subject to the following
restrictions: (a) such Borrowing Base shall not exceed the Borrowing Base requested by Borrower pursuant to Section 4.1 or Section 4.3 (as applicable), (b) such Borrowing Base shall not exceed the Total Commitment then in effect, (c)
to the extent such Borrowing Base represents an increase from the Borrowing Base in effect prior to such Redetermination, such Borrowing Base shall be approved by all Banks, and (d) to the extent such Borrowing Base represents a decrease in the
Borrowing Base in effect prior to such Redetermination, or a reaffirmation of such prior Borrowing Base, such Borrowing Base shall be approved by Required Banks. Each Redetermination shall be made by Banks in their sole discretion. Without limiting
such discretion, Borrower acknowledges and agrees that Banks (i) may make such assumptions regarding appropriate existing and projected pricing for Hydrocarbons as they deem appropriate in their sole discretion, (ii) may make such assumptions
regarding projected rates and quantities of future production of Hydrocarbons from the Mineral Interests owned by Borrower as they deem appropriate in their sole discretion, (iii) may consider the projected cash requirements of the Credit Parties,
(iv) are not required to consider any asset other than Proved Mineral Interests owned by Borrower which are subject to first 

  

 5 

 
and prior Liens in favor of Administrative Agent for the ratable benefit of Banks to the extent required by Section 5.1 hereof, and (v) may make such
other assumptions, considerations and exclusions as Banks deem appropriate in the exercise of their sole discretion. It is further acknowledged and agreed that each Bank may consider such other credit factors as it deems appropriate in the exercise
of its sole discretion and shall have no obligation in connection with any Redetermination to approve any increase from the Borrowing Base in effect prior to such Redetermination. Promptly following any Redetermination of the Borrowing Base,
Administrative Agent shall notify Borrower of the amount of the Borrowing Base as redetermined, which Borrowing Base shall be effective as of the date specified in such notice, and shall remain in effect for all purposes of this Agreement until the
next Redetermination. 
  
 Section 4.3
Special Redetermination. 
  
 (a) In
addition to Scheduled Redeterminations and the other Redeterminations provided for in this Article IV, Borrower and Required Banks shall each be permitted to request a Special Redetermination of the Borrowing Base once in each period between
Scheduled Redeterminations. Any request by Required Banks pursuant to this Section 4.3(a) shall be submitted to Administrative Agent and Borrower. Any request by Borrower pursuant to this Section 4.3(a) shall be submitted to
Administrative Agent and each Bank and at the time of such request Borrower shall (A) deliver to Administrative Agent and each Bank a Reserve Report, and (B) also notify Administrative Agent and each Bank of the Borrowing Base requested by Borrower
in connection with such Special Redetermination. 
  
 (b) Any Special Redetermination shall be made by Banks in accordance with the procedures and standards set forth in Section 4.2; provided, that, no Reserve Report will be required to be delivered to Administrative Agent
and Banks in connection with any Special Redetermination requested by Required Banks pursuant to Section 4.3(a) above. 
  
 Section 4.4 Asset Disposition Adjustment. In addition to the other Redeterminations provided for in this Article IV,
Required Banks shall be permitted to redetermine the Borrowing Base in connection with, and simultaneously with, the consummation of an Asset Disposition described in the proviso of Section 9.5(b), and reduce the Borrowing Base by an amount
equal to the Borrowing Base value of the Borrowing Base Properties which are the subject of such Asset Disposition (which shall be the Borrowing Base value assigned thereto by Administrative Agent and approved by Required Banks). In the event
Required Banks elect to redetermine the Borrowing Base in accordance with this Section 4.4, Administrative Agent shall notify Borrower promptly, but in any event no less than one (1) Domestic Business Day prior to the consummation of the
Asset Disposition, of the amount of the Borrowing Base as redetermined, which Borrowing Base shall be effective as of the date specified in such notice, and shall remain in effect for all purposes of this Agreement until the next 

  

 6 

 
Redetermination. Notwithstanding anything to the contrary contained herein, Borrower agrees that any such Redetermination pursuant to this Section 4.4
shall not be construed or deemed to be a Special Redetermination hereunder. 
  
 Section 4.5 Borrowing Base Deficiency. To the extent a Borrowing Base Deficiency exists after giving effect to any Redetermination (other than in connection with a Redetermination pursuant to
Section 4.4 or Section 4.6 hereof), Borrower shall, within ten (10) days following notice thereof from Administrative Agent, provide written notice (the “Election Notice”) to Administrative Agent stating the
action which Borrower proposes to take to remedy such Borrowing Base Deficiency, and Borrower shall thereafter, at its option, either (a) within thirty (30) days following the delivery of the Election Notice, make a prepayment or prepayments of
principal on the Revolving Loan in an amount sufficient to eliminate such Borrowing Base Deficiency, and if such Borrowing Base Deficiency cannot be eliminated pursuant to this Section 4.5 by prepayment of the Revolving Loan in full (as a
result of outstanding Letter of Credit Exposure), Borrower shall also at such time deposit with Administrative Agent sufficient cash to be held by Administrative Agent to secure outstanding Letter of Credit Exposure in the manner contemplated by
Section 2.1(b) as necessary to eliminate such Borrowing Base Deficiency, (b) eliminate such Borrowing Base Deficiency by making three (3) consecutive mandatory prepayments of principal on the Revolving Loan, each of which shall be in the
amount of one-third (1/3rd) of the amount of such Borrowing Base Deficiency, commencing on the first Monthly Date following the delivery of the Election Notice, and continuing on each Monthly Date thereafter, (c) within ninety (90) days following
the delivery of the Election Notice, submit (and pledge as collateral pursuant to Article V hereof) additional oil and gas properties owned by Borrower and its Subsidiaries for consideration in connection with the determination of the
Borrowing Base which Administrative Agent and Banks deem sufficient in their sole discretion to eliminate such Borrowing Base Deficiency, or (d) eliminate such Borrowing Base Deficiency through a combination of prepayments on the Revolving Loan and
submission of additional oil and gas properties for inclusion in the Borrowing Base as set forth in subclauses (a) and (c) above. Notwithstanding the foregoing, upon any Redetermination of the Borrowing Base pursuant to Section 4.4 or
Section 4.6 hereof which results in a Borrowing Base Deficiency (or increase in an existing Borrowing Base Deficiency), Borrower shall immediately make a mandatory prepayment of principal on the Revolving Loan in an amount sufficient to
eliminate such Borrowing Base Deficiency. 
  
 Section 4.6 Manti Redetermination. In addition to the other Redeterminations provided for in this Article IV, Required Banks shall be permitted to make an additional Redetermination of the Borrowing Base on each
Manti Redetermination Date (or as of a date shortly thereafter to be designated by Administrative Agent in a notice to Borrower), pursuant to which Required Banks may reduce the Borrowing Base by such amount as Required Banks shall determine in
their sole discretion as a result of any downward adjustment to the 

  

 7 

 
Purchase Price or Final Settlement Statement (as each such term is defined in the Manti Acquisition Agreement). 
  
 Section 4.7 Borrowing Base As of Second Amendment
Effective Date. Notwithstanding anything to the contrary contained herein, the Borrowing Base in effect during the period commencing on the Effective Date (as defined in the Second Amendment) and ending on the effective date of the first
Redetermination after such Effective Date shall be $60,000,000.” 
  
 1.5 Amendment to Asset Disposition Covenant. Section 9.5 of the Credit Agreement shall be amended to read in full as follows: 
  
 “Section 9.5 Asset Dispositions. Borrower will not, nor will Borrower permit any
other Credit Party to, sell, lease, transfer, abandon or otherwise dispose of any asset other than (a) the sale in the ordinary course of business of Hydrocarbons produced from Borrower’s Mineral Interests, and (b) provided no Event of Default
or Borrowing Base Deficiency exists, the sale, lease, transfer, abandonment, exchange or other disposition of other assets; provided, that, no sale, lease, transfer, abandonment, exchange or other disposition by Borrower or any of its
Subsidiaries of Borrowing Base Properties with an aggregate value (which, in the case of assets consisting of Mineral Interests, shall be the Recognized Value of such Mineral Interests and, in the case of any exchange, shall be the net value or net
Recognized Value realized or resulting from such exchange) in any period between Scheduled Redeterminations (for purposes of this clause (b) the Closing Date will be deemed to be a Scheduled Redetermination) in excess of five percent (5%) of the
Borrowing Base then in effect shall be permitted pursuant to this clause (b) unless each of the following conditions is satisfied: (i) Borrower shall have provided Administrative Agent with not less than ten (10) Domestic Business Days written
notice of such sale, lease, transfer, abandonment, exchange or other disposition, which notice shall include a specific description of the assets to be sold, leased, transferred, abandoned, exchanged or otherwise disposed, (ii) any Redetermination
of the Borrowing Base pursuant to Section 4.4 hereof shall have occurred, (iii) all mandatory prepayments required by Section 2.6 in connection with such sale, lease, transfer, abandonment, exchange or other disposition are made
concurrently with the closing thereof, (iv) no Borrowing Base Deficiency will exist after consummation of such sale, lease, transfer, abandonment, exchange or other disposition (and application of the proceeds thereof to the mandatory prepayments
required by Section 2.6), and (v) no Default has occurred which is continuing. In no event will Borrower sell, transfer or dispose of any Equity in any Subsidiary nor will any Credit Party issue or sell any Equity or any option, warrant or
other right to acquire such Equity or security convertible into such Equity to any Person other than the Credit Party which is the direct parent of such issuer on the Closing Date.” 
  

 8 

 1.6 Amendment to Financial Covenant. Section 10.2 of the Credit Agreement
shall be amended and restated in its entirety to read in full as follows: 
  
 “Section 10.2 Consolidated Net Debt to Consolidated EBITDAX. As of the end of the Fiscal Quarter ending December 31, 2004, Borrower will not permit its ratio of Consolidated Total Debt as of
the end of such Fiscal Quarter to Consolidated EBITDAX for the four (4) Fiscal Quarter period then ended to be greater than 3.0 to 1.0. As of the end of any Fiscal Quarter thereafter ending on or prior to June 30, 2006, commencing with the Fiscal
Quarter ending March 31, 2005, Borrower will not permit its ratio of Consolidated Net Debt as of the end of such Fiscal Quarter to Consolidated EBITDAX for the four (4) Fiscal Quarter period then ended to be greater than 3.5 to 1.0. As of the end of
any Fiscal Quarter thereafter, commencing with the Fiscal Quarter ending September 30, 2006, Borrower will not permit its ratio of Consolidated Net Debt as of the end of such Fiscal Quarter to Consolidated EBITDAX for the four (4) Fiscal Quarter
period then ended to be greater than 3.0 to 1.0.” 
  
 1.7 Schedule 1.1. Schedule 1.1 to the Credit Agreement is hereby amended and restated in its entirety in the form of Schedule 1.1 attached to this Second Amendment. 
  
 1.8 Schedule 7.13. Schedule 7.13 to the Credit
Agreement is hereby amended and restated in its entirety in the form of Schedule 7.13 attached to this Second Amendment. 
  
 SECTION 2. Borrowing Base. In reliance on the representations, warranties, covenants and agreements contained in the Credit Agreement and
this Second Amendment, and subject to the satisfaction of each condition precedent set for in Section 4 hereof, Borrower, Administrative Agent and each Bank agree that the Borrowing Base in effect for the period from and after the Effective Date
until the next Redetermination thereafter shall be $60,000,000. Borrower, Administrative Agent and Banks agree that the Redetermination provided for in this Section 2 shall not be construed or deemed to be a Special Redetermination for purposes of
Section 4.3 of the Credit Agreement. 
  
 SECTION 3. Consent
and Waiver. Borrower has requested that Banks (a) consent to the Debt Issuance (as such term is defined in the Credit Agreement, as amended through and including the Effective Date) and (b) waive any provision of the Credit Agreement and the
other Loan Papers to the extent such provisions prohibit the consummation of such transaction. In reliance on the representations, warranties, covenants and agreements contained in the Credit Agreement and this Second Amendment, and subject to the
satisfaction of the conditions precedent set forth in Section 4 hereof (and in the Credit Agreement, as amended through and including the Effective Date), Banks hereby (A) consent to the Debt Issuance, provided such issuance is consummated on or
prior to March 31, 2005, and (B) waive any provision of the Credit Agreement and the other Loan Papers to the extent such provisions prohibit the consummation of the Debt Issuance. The consents and waivers contained in this Section 3 are limited
solely to the Debt Issuance, and the applicable provisions of the Credit Agreement to the extent they prohibit the consummation of such transaction, and solely for the time period set forth above. Nothing contained herein shall be deemed (1) a
consent to any action other than the consummation of the Debt Issuance within the applicable time period set forth above, or (2) a 

  

 9 

 
waiver of any provisions of the Credit Agreement or any other Loan Paper except to the extent any such provision prohibits the consummation of such
transaction. 
  
 SECTION 4. Conditions Precedent.
The effectiveness of the amendments to the Credit Agreement contained in Section 1 hereof is subject to the satisfaction of each condition precedent set forth in this Section 4: 
  
 4.1 Notes. Administrative Agent shall have received a Note payable to the order of each Bank
(as applicable), each in the amount of such Bank’s Commitment after giving effect to the Assignment and Acceptance Agreements referenced in the recitals hereto. 
  
 4.2 Facility Guaranty. Administrative Agent shall have received a Facility Guaranty duly
completed and executed by Castle. 
  
 4.3
Pledge Acknowledgment. Administrative Agent shall have received a Pledge Acknowledgement, in the form attached to the Borrower Pledge Agreement, duly completed and executed by Borrower and Castle, pursuant to which the Equity of Castle
owned by Borrower shall be and become a part of the “Pledged Equity” under and as defined in the Borrower Pledge Agreement. 
  
 4.4 Debt Issuance. Prior to the consummation of the Debt Issuance, Administrative Agent shall have received fully executed
copies of the Permitted Senior Unsecured Debt Documents (as defined in the Credit Agreement, as amended through and including the Effective Date) and other material documents, instruments and agreements evidencing the terms and conditions of the
Permitted Senior Unsecured Debt, together with a certificate from an Authorized Officer of certifying that (1) such copies are accurate and complete and represent the complete understanding and agreement of the parties thereto, and (2) no material
right or obligation of any party thereto has been modified, amended or waived. 
  
 4.5 Officer’s Certificate; Opinions, etc. Borrower shall have delivered, or cause to be delivered, to Administrative
Agent a certificate of an Authorized Officer of Castle, certificates of Governmental Authorities, a certified copy of the certificate of limited partnership and limited partnership agreement of Castle, certified copies of resolutions of the general
partner of Castle and such other documents, instruments and agreements and an opinion of counsel to Castle to evidence the valid corporate existence and authority to conduct business of Castle and the due authorization, execution and delivery of the
Facility Guaranty and any other documents related thereto, all in a form and substance satisfactory to Administrative Agent and its counsel. 
  
 4.6 No Defaults. Prior to and after giving effect to the amendments contained in Section 1 hereof, no Default, Event
of Default or Borrowing Base Deficiency shall exist. 
  
 4.7 Fees and Expenses. Borrower shall have paid (a) all fee and amounts as Borrower shall be required to pay to Administrative Agent and its Affiliates pursuant to any separate agreement between or among Borrower,
Administrative Agent and/or its 

  

 10 

 
Affiliates, and (b) all reasonable fees and expenses incurred by Administrative Agent in connection with the preparation, negotiation and execution of this
Second Amendment, including, without limitation, all reasonable fees and expenses of Vinson & Elkins L.L.P., counsel to Administrative Agent. 
  
 4.8 Other Documentation. Administrative Agent shall have received such other documents, instruments and agreements as it or
any Bank may reasonably request, all in form and substance reasonably satisfactory to Administrative Agent and Banks. 
  
 SECTION 5. Representations and Warranties of Borrower. To induce Banks and Administrative Agent to enter into this Second Amendment,
Borrower hereby represents and warrants to Banks and Administrative Agent as follows: 
  
 5.1 Due Authorization; No Conflict. The execution, delivery and performance by Borrower of this Second
Amendment are within Borrower’s corporate powers, have been duly authorized by all necessary action, require no action by or in respect of, or filing with, any governmental body, agency or official and do not violate or constitute a default
under any provision of applicable law or any Material Agreement binding upon Borrower or result in the creation or imposition of any Lien upon any of the assets of Borrower except Permitted Encumbrances. 
  
 5.2 Validity and Enforceability. This Second
Amendment constitutes the valid and binding obligation of Borrower enforceable in accordance with its terms, except as (i) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditor’s rights
generally, and (ii) the availability of equitable remedies may be limited by equitable principles of general application. 
  
 5.3 Accuracy of Representations and Warranties. Each representation and warranty of each Credit Party contained in the Loan
Papers is true and correct in all material respects as of the date hereof (except to the extent such representations and warranties are expressly made as of a particular date, in which event such representations and warranties were true and correct
as of such date). 
  
 5.4 Absence of
Defaults. Prior to and after giving effect to the amendments contained in Section 1 hereof, no Default or Event of Default has occurred which is continuing. 
  
 5.5 No Defense. Borrower has no defense to payment of, or any counterclaim or rights of
set-off with respect to, all or any portion of the Obligations. 
  
 SECTION 6. Miscellaneous. 
  
 6.1 Reaffirmation of Loan Papers. Any and all of the terms and provisions of the Credit Agreement and the Loan Papers shall, except as amended and modified hereby, remain in full force and effect, and are hereby ratified and
confirmed. The amendments contemplated hereby shall not limit or impair any Liens securing the Obligations, each of which are hereby ratified, affirmed and extended to secure the Obligations. 
  

 11 

 6.2 Confirmation of Loan Papers and Liens. As a material inducement to
Banks to make the agreements and grant the consents, waivers and amendments set forth herein, Borrower hereby (a) acknowledges and confirms the continuing existence, validity and effectiveness of the Loan Papers and the Liens granted thereunder, (b)
agrees that the execution, delivery and performance of this Second Amendment and the consummation of the transaction contemplated hereby shall not in any way release, diminish, impair, reduce or otherwise adversely affect such Loan Papers and Liens,
and (c) acknowledges and agrees that the Liens granted under the Loan Papers secure, and after the consummation of the transactions contemplated hereby will continue to secure, the payment and performance of the Obligations as first priority
perfected Liens. 
  
 6.3 Parties in
Interest. All of the terms and provisions of this Second Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and assigns. 
  
 6.4 Legal Expenses. Borrower hereby agrees to pay on demand all reasonable fees and expenses
of counsel to Administrative Agent incurred by Administrative Agent in connection with the preparation, negotiation and execution of this Second Amendment. 
  
 6.5 Counterparts. This Second Amendment may be executed in counterparts, and all parties need not execute the same
counterpart; however, no party shall be bound by this Second Amendment until Borrower and Required Banks have executed a counterpart. Facsimiles shall be effective as originals. 
  
 6.6 Complete Agreement. THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN PAPERS
REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE PARTIES. 
  
 6.7 Headings. The headings, captions and
arrangements used in this Second Amendment are, unless specified otherwise, for convenience only and shall not be deemed to limit, amplify or modify the terms of this Second Amendment, nor affect the meaning thereof. 
  
 6.8 Effectiveness. This Second Amendment shall
be effective automatically and without necessity of any further action by Borrower, Administrative Agent or Banks when counterparts hereof have been executed by Borrower, Administrative Agent and Required Banks, and all conditions to the
effectiveness hereof set forth herein and in the Credit Agreement have been satisfied (including, without limitation, all conditions precedent set forth in Section 4 hereof). 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed by their respective Authorized
Officers on the date and year first above written. 
  
 [Signature
pages to follow] 
  

 12 

  
 SIGNATURE PAGE TO 

SECOND AMENDMENT TO CREDIT AGREEMENT 
 BY AND
AMONG 
 DELTA PETROLEUM CORPORATION, AS BORROWER, 
 JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT 
 AND THE BANKS PARTY THERETO 
  

			
	BORROWER:
	
	 DELTA PETROLEUM CORPORATION,
 a Colorado corporation

		
	By:	 	 /s/ Kevin K. Nanke

			
	 Name:
	 	 Kevin K. Nanke

	 Title:
	 	 Chief Financial Officer and Treasurer

  
 Each of the
undersigned (i) consent and agree to this Second Amendment, and (ii) agree that the Loan Papers to which it is a party shall remain in full force and effect and shall continue to be the legal, valid and binding obligation of such Person, enforceable
against it in accordance with its terms. 
  

			
	ACKNOWLEDGED AND AGREED TO BY:
	
	 DELTA EXPLORATION COMPANY, INC.,
 a Colorado corporation

		
	By:	 	 /s/ Kevin K. Nanke

			
	 Name:
	 	 Kevin K. Nanke

	 Title:
	 	 Chief Financial Officer

	
	 PIPER PETROLEUM COMPANY,
 a Colorado corporation

			
		
	By:	 	 /s/ Kevin K. Nanke

			
	 Name:
	 	 Kevin K. Nanke

	 Title:
	 	 Chief Financial Officer

  
 [SIGNATURE PAGE] 
  

  
 SIGNATURE PAGE TO 

SECOND AMENDMENT TO CREDIT AGREEMENT 
 BY AND
AMONG 
 DELTA PETROLEUM CORPORATION, AS BORROWER, 
 JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT 
 AND THE BANKS PARTY THERETO 
  

			
	ADMINISTRATIVE AGENT:
	
	 JPMORGAN CHASE BANK, N.A.,
 as Administrative Agent

		
	By:	 	 /s/ J. Scott Fowler

	 	 	 J. Scott Fowler,

	 	 	 Vice President

	
	BANKS:
	
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ J. Scott Fowler

	 	 	 J. Scott Fowler,

	 	 	 Vice President

  
 [SIGNATURE PAGE] 
  

  
 SIGNATURE PAGE TO 

SECOND AMENDMENT TO CREDIT AGREEMENT 
 BY AND
AMONG 
 DELTA PETROLEUM CORPORATION, AS BORROWER, 
 JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT 
 AND THE BANKS PARTY THERETO 
  

			
	BANK OF OKLAHOMA, N.A.
		
	By:	 	 /s/ Thomas M. Foncannon

	 	 	 Thomas M. Foncannon

	 	 	 Senior Vice President

  
 [SIGNATURE PAGE] 
  

  
 SIGNATURE PAGE TO 

SECOND AMENDMENT TO CREDIT AGREEMENT 
 BY AND
AMONG 
 DELTA PETROLEUM CORPORATION, AS BORROWER, 
 JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT 
 AND THE BANKS PARTY THERETO 
  

			
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Kathryn A. Gaiter

	 	 	 Kathryn A. Gaiter,

	 	 	 Vice President

  
 [SIGNATURE PAGE] 
  

  
 SIGNATURE PAGE TO 

SECOND AMENDMENT TO CREDIT AGREEMENT 
 BY AND
AMONG 
 DELTA PETROLEUM CORPORATION, AS BORROWER, 
 JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT 
 AND THE BANKS PARTY THERETO 
  

			
	HIBERNIA NATIONAL BANK
		
	By:	 	 /s/ Daria Mahoney

	 	 	 Daria Mahoney,

	 	 	 Vice President

  
 [SIGNATURE PAGE] 
  

  
 SIGNATURE PAGE TO 

SECOND AMENDMENT TO CREDIT AGREEMENT 
 BY AND
AMONG 
 DELTA PETROLEUM CORPORATION, AS BORROWER, 
 JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT 
 AND THE BANKS PARTY THERETO 
  

			
	COMERICA BANK
		
	By:	 	 /s/ Peter L. Sefzik

			
	 Name:
	 	 Peter L. Sefzik

			
	 Title:
	 	 Vice President

  
 [SIGNATURE PAGE] 
  

  
 SIGNATURE PAGE TO 

SECOND AMENDMENT TO CREDIT AGREEMENT 
 BY AND
AMONG 
 DELTA PETROLEUM CORPORATION, AS BORROWER, 
 JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT 
 AND THE BANKS PARTY THERETO 
  

			
	BANK OF SCOTLAND
		
	By:	 	 /s/ Karen Welch

			
	 Name:
	 	 Karen Welch

			
	 Title:
	 	 Assistant Vice President

  
 [SIGNATURE PAGE] 
  

  
 SCHEDULE 1.1

  
 Financial Institutions 
  

					
	 BANKS

	  	COMMITMENT AMOUNT

	  	COMMITMENT PERCENTAGE

	 JPMorgan Chase Bank, N.A.
	  	$40,000,000.00	  	20.00%
			
	 Bank of Oklahoma, N.A.
	  	$40,000,000.00	  	20.00%
			
	 U.S. Bank National Association
	  	$40,000,000.00	  	20.00%
			
	 Hibernia National Bank
	  	$26,666,666.67	  	13.3333333334%
			
	 Comerica Bank
	  	$26,666,666.67	  	13.3333333333%
			
	 Bank of Scotland
	  	$26,666,666.66	  	13.3333333333%
			
	 Totals:
	  	$200,000,000	  	100.00%

  

							
	 BANKS

	    	 DOMESTIC LENDING OFFICE

	    	 EURODOLLAR LENDING OFFICE

	    	 ADDRESS FOR NOTICE

	JPMorgan Chase Bank, N.A.	    	 131 South Dearborn
 Mail Code IL1-0010
 Chicago, Illinois 60603
 Attn: Deborah Turner
 Tel. No. (312) 385-7081
 Fax No. (312) 385-7097
 e-mail: deborah_a_turner@bankone.com
	    	 131 South Dearborn
 Mail Code IL1-0010
 Chicago, Illinois 60603
 Attn: Deborah Turner
 Tel. No. (312) 385-7081
 Fax No. (312) 385-7097
 e-mail: deborah_a_turner@bankone.com
	    	 131 South Dearborn
 Mail Code IL1-0010
 Chicago, Illinois 60603
 Attn: Deborah Turner
 Tel. No. (312) 385-7081
 Fax No. (312) 385-7097
 e-mail: deborah_a_turner@bankone.com

				
	Bank of Oklahoma, N.A.	    	 1625 Broadway
 Suite 1570
 Denver, Colorado 80202
 Attn: Mary Anne Anderson
 Tel No. (303) 534-9465
 Fax No. (303) 534-9499
 e-mail: manderson@bokf.com
	    	 1625 Broadway
 Suite 1570
 Denver, Colorado 80202
 Attn: Mary Anne Anderson
 Tel No. (303) 534-9465
 Fax No. (303) 534-9499
 e-mail: manderson@bokf.com
	    	 1625 Broadway
 Suite 1570
 Denver, Colorado 80202
 Attn: Allen Rheem
 Tel No. (303) 534-9463
 Fax No. (303) 534-9499
 e-mail: hrheem@bokf.com

				
	U.S. Bank National Association	    	 555 SW Oak
 PD-OR-P7LS
 Portland, Oregon 97208
 Attn: Josie Butalid
 Tel No. (503) 275-7861
 Fax No. (503) 275-8181
	    	 555 SW Oak
 PD-OR-P7LS
 Portland, Oregon 97208
 Attn: Josie Butalid
 Tel No. (503) 275-7861
 Fax No. (503) 275-8181
	    	 918 Seventeenth Street
 DN-CO-BB3E
 Denver, Colorado 80202
 Attn: Kathryn A. Gaiter
 Tel No. (303) 585-4210
 Fax No. (303) 585-4362
 e-mail: kathryn.gaiter@usbank.com

				
	Hibernia National Bank	    	 313 Carondelet Street
 New Orleans, Louisiana
70130
 Attn: Joyce Baker
 Tel No. (504) 533-5352
 Fax No. (504) 533-5434
 e-mail: jbaker@hibernia.com
	    	 313 Carondelet Street
 New Orleans, Louisiana
70130
 Attn: Joyce Baker
 Tel No. (504) 533-5352
 Fax No. (504) 533-5434
 e-mail: jbaker@hibernia.com
	    	 313 Carondelet Street
 New Orleans, Louisiana
70130
 Attn: Daria M. Mahoney
 Tel No. (504) 533-2589

Fax No. (504) 533-5434
 e-mail: dmahoney@hibernia.com

				
	Comerica Bank	    	 1601 Elm Street
 2nd Floor
 Dallas, Texas 75201
 Attn: Peter L. Sefzik
 Tel No. (214) 969-6538
 Fax No. (214) 969-6561
 e-mail: peter_l_sefzik@comerica.com
	    	 1601 Elm Street
 2nd Floor
 Dallas, Texas 75201
 Attn: Peter L. Sefzik
 Tel No. (214) 969-6538
 Fax No. (214) 969-6561
 e-mail: peter_l_sefzik@comerica.com
	    	 1601 Elm Street
 2nd Floor
 Dallas, Texas 75201
 Attn: Peter L. Sefzik
 Tel No. (214) 969-6538
 Fax No. (214) 969-6561
 e-mail: peter_l_sefzik@comerica.com

  

 Schedule 1.1 - 1 

  

							
	 BANKS

	  	 DOMESTIC LENDING OFFICE

	  	 EURODOLLAR LENDING OFFICE

	  	 ADDRESS FOR NOTICE

	Bank of Scotland	  	 ______________________
 ______________________
 ______________________
 Attn:__________________
 Tel No. (___) ___-____
 Fax No.
(___) ___-____
 e-mail: _________________
	  	 ______________________
 ______________________
 ______________________
 Attn:__________________
 Tel No. (___) ___-____
 Fax No.
(___) ___-____
 e-mail: _________________
	  	 ______________________
 ______________________
 ______________________
 Attn:__________________
 Tel No. (___) ___-____
 Fax No.
(___) ___-____
 e-mail: _________________

  
 Administrative Agent - Address:

 1717 Main Street, 4th Floor 
 Mail Code TX1-2448 
 Dallas, Texas 75201 
 Attn: J. Scott Fowler 
 Tel. No. (214) 290-2162 
 Fax No. (214) 290-2332 
  

 Schedule 1.1 - 2 

  
 SCHEDULE 7.13

  
 Organizational Structure 
  

	1.	Credit Party: Delta Petroleum Corporation (“Borrower”) 

  
 Jurisdiction of Incorporation: Colorado 
  
 Jurisdiction of Qualification as a Foreign Corporation: Alabama, California, Kansas, Louisiana, Michigan, Montana,
North Dakota, Pennsylvania, South Dakota, Texas and Wyoming. 
  
 Authorized, issued and outstanding Equity of Borrower: 
  

			
	Authorized:	 	Common Stock, $0.01 par value, 300,000,000 shares
	 	 	Preferred Stock, $0.10 par value, 3,000,000 shares
		
	Issued and Outstanding:	 	39,349,449 shares of Common Stock
	 	 	No shares of Preferred Stock

  
 Outstanding
warrants, options, subscription rights, convertible securities or other rights to Equity of Borrower: See Attachment. 
  

	2.	Credit Party: Delta Exploration Company, Inc. (“DEC”) 

  

Jurisdiction of Incorporation: Colorado 
  
 Jurisdiction of Qualification as a Foreign Corporation: Alabama and Pennsylvania. 
  
 Authorized, issued and outstanding Equity of DEC: 
  

			
	Authorized:	 	Common Stock, $0.01 par value, 300,000,000 shares
	 	 	Preferred Stock, $0.10 par value, 3,000,000 shares
		
	Issued and Outstanding:	 	100 shares of Common Stock
	 	 	No shares of Preferred Stock

  
 Outstanding
warrants, options, subscription rights, convertible securities or other rights to Equity of DEC: None. 
  

	3.	Credit Party: Piper Petroleum Company (“Piper”) 

  
 Jurisdiction of Incorporation: Colorado 
  
 Jurisdiction of Qualification as a Foreign Corporation: None. 
  

 Schedule 7.13 - 1 

 Authorized, issued and outstanding Equity of Piper: 
  

			
	Authorized:	 	Common Stock, $0.01 par value, 1,000 shares
		
	Issued and Outstanding:	 	100 shares

  
 Outstanding
warrants, options, subscription rights, convertible securities or other rights to Equity of Piper: None. 
  

	4.	Credit Party: Castle Texas Exploration Limited Partnership (“Castle”) 

  
 Jurisdiction of Organization: Texas 
  
 Jurisdiction of Qualification as a Foreign Corporation: None. 
  
 Authorized, issued and outstanding Equity of Castle: 
  

			
		
	Issued and Outstanding:	 	            % general partner interest held by Borrower
		
	 	 	            % limited partner interest held by Borrower

  
 Outstanding
warrants, options, subscription rights, convertible securities or other rights to Equity of Castle: None. 
  

 Schedule 7.13 - 2 

  
 Delta Petroleum Corporation

 Options/Warrants Outstanding 
 September 30, 2004

  
 Inside Incentive Plan 
  

																
	 Name

	  	 	 	 	 	  	Expiration Date

	  	Options/Warrants
Granted

	  	Option/Warrant
Price

	  	Cash to Delta

	  	Total
Options/Warrants
Outstanding

	Aleron H. Larson, Jr.	  	 	 	 	 	  	09/01/08	  	160,000	  	0.0500	  	8,000.00	  	 
	 	  	 	 	 	 	  	11/05/09	  	100,000	  	1.7500	  	175,000.00	  	 
	 	  	 	 	 	07/14/00	  	07/14/10	  	300,000	  	3.7500	  	1,125,000.00	  	 
	 	  	 	 	 	 	  	10/09/10	  	250,000	  	5.0000	  	1,250,000.00	  	 
	 	  	 	 	 	01/08/01	  	01/08/11	  	200,000	  	3.2900	  	658,000.00	  	 
	 	  	 	 	 	08/26/03	  	08/26/13	  	500,000	  	5.2900	  	2,645,000.00	  	 
	 	  	 	 	 	10/05/01	  	10/05/11	  	175,000	  	2.3800	  	416,500.00	  	1,685,000
								
	Roger A. Parker	  	 	 	 	07/14/00	  	07/14/10	  	300,000	  	3.7500	  	1,125,000.00	  	 
	 	  	 	 	 	 	  	10/09/10	  	250,000	  	5.0000	  	1,250,000.00	  	 
	 	  	 	 	 	01/08/01	  	01/08/11	  	200,000	  	3.2900	  	658,000.00	  	 
	 	  	 	 	 	08/26/03	  	08/26/13	  	500,000	  	5.2900	  	2,645,000.00	  	 
	 	  	 	 	 	10/05/01	  	10/05/11	  	175,000	  	2.3800	  	416,500.00	  	1,425,000
								
	Dawn Cretti	  	 	 	 	07/14/00	  	07/14/10	  	2,500	  	3.7500	  	9,375.00	  	 
								
	Kevin Nanke	  	 	 	 	 	  	09/01/08	  	34,047	  	1.1250	  	38,302.88	  	 
	 	  	 	 	 	 	  	12/10/08	  	25,000	  	1.5625	  	39,062.50	  	 
	 	  	 	 	 	 	  	05/12/09	  	100,000	  	1.7500	  	175,000.00	  	 
	 	  	 	 	 	 	  	11/05/09	  	75,000	  	1.7500	  	131,250.00	  	 
	 	  	 	 	 	07/14/00	  	07/14/10	  	125,000	  	3.7500	  	468,750.00	  	 
	 	  	 	 	 	01/08/01	  	01/08/11	  	100,000	  	3.2900	  	329,000.00	  	 
	 	  	 	 	 	08/26/03	  	08/26/13	  	250,000	  	5.2900	  	1,322,500.00	  	 
	 	  	 	 	 	10/05/01	  	10/05/11	  	100,000	  	2.3800	  	238,000.00	  	809,047
								
	David Castaneda	  	 	 	 	 	  	11/14/06	  	0	  	6.0000	  	0.00	  	 
	 	  	 	 	 	 	  	11/14/06	  	25,000	  	9.7500	  	243,750.00	  	25,000
								
	Jerrie Eckelberger	  	 	 	 	 	  	12/31/06	  	725	  	2.9800	  	2,160.50	  	 
	 	  	 	 	 	02/04/04	  	02/04/14	  	20,000	  	2.3100	  	46,200.00	  	20,725
								
	John Keller	  	 	 	 	02/07/03	  	02/07/13	  	20,000	  	1.8700	  	37,400.00	  	 
	 	  	 	 	 	02/04/04	  	02/04/14	  	20,000	  	2.3100	  	46,200.00	  	40,000
								
	Russel Lewis	  	 	 	 	02/07/03	  	02/07/13	  	20,000	  	1.8700	  	37,400.00	  	 
	 	  	 	 	 	02/04/04	  	02/04/14	  	20,000	  	2.3100	  	46,200.00	  	40,000
								
	James Wallace	  	 	 	 	02/05/02	  	02/05/12	  	2,500	  	2.0200	  	5,050.00	  	 
	 	  	 	 	 	02/07/03	  	02/07/13	  	20,000	  	1.8700	  	37,400.00	  	 
	 	  	 	 	 	02/04/04	  	02/04/14	  	20,000	  	2.3100	  	46,200.00	  	42,500
								
	Tracy Davison	  	 	 	 	10/05/01	  	10/05/11	  	2,500	  	2.3800	  	5,950.00	  	2,500
								
	Kent Lina	  	 	 	 	03/21/01	  	03/21/11	  	10,000	  	4.5625	  	45,625.00	  	 
	 	  	 	 	 	03/21/01	  	03/22/11	  	20,000	  	4.5625	  	91,250.00	  	 
	 	  	 	 	 	03/21/01	  	03/23/11	  	20,000	  	4.5625	  	91,250.00	  	50,000
								
	John Wallace	  	 	 	 	12/08/03	  	12/08/13	  	200,000	  	5.4400	  	1,088,000.00	  	 
	Wayne Wise	  	*	 	 	12/08/03	  	12/08/07	  	10,000	  	5.4400	  	54,400.00	  	 
	Karl Oserbuhr	  	*	*	 	12/08/03	  	12/08/07	  	15,000	  	5.4400	  	81,600.00	  	 
	Lylle Coe	  	*	*	 	12/08/03	  	12/08/07	  	25,000	  	5.4400	  	136,000.00	  	 
	Randy Arnold	  	*	*	 	12/08/03	  	12/08/07	  	10,000	  	5.4400	  	54,400.00	  	 
								
	Gary Casteel	  	*	*	 	03/01/04	  	03/01/08	  	25,000	  	9.0400	  	226,000.00	  	 

  

 Schedule 7.13 - 3 

 Delta Petroleum Corporation 
 Options/Warrants Outstanding 
 September 30, 2004 
  

																	
	Bob Dale	  	*	*	 	03/01/04	  	03/01/08	  	12,000	  	9.0400	  	 	108,480.00	  	 
	Sapphire Falls	  	*	*	 	03/01/04	  	03/01/08	  	5,000	  	9.0400	  	 	45,200.00	  	 
	Terry Hoffman	  	*	*	 	03/01/04	  	03/01/08	  	8,000	  	9.0400	  	 	72,320.00	  	 
	Jacinda Nettik	  	*	*	 	03/01/04	  	03/01/08	  	7,000	  	9.0400	  	 	63,280.00	  	 
								
	Jamie Ainsley	  	 	 	 	03/28/03	  	03/28/07	  	4,000	  	3.3000	  	 	13,200.00	  	 
	Cathy Lewis	  	 	 	 	03/28/03	  	03/28/07	  	5,000	  	3.3000	  	 	16,500.00	  	 
	Dayla Quest	  	 	 	 	03/28/03	  	03/28/07	  	5,000	  	3.3000	  	 	16,500.00	  	 
								
	Dawn Bradley	  	 	 	 	08/07/02	  	08/07/06	  	3,000	  	3.2000	  	 	9,600.00	  	 
	Nancy Broustuen	  	 	 	 	08/07/02	  	08/07/06	  	3,500	  	3.2000	  	 	11,200.00	  	 
	Victoria Crile	  	 	 	 	08/07/02	  	08/07/06	  	5,000	  	3.2000	  	 	16,000.00	  	 
	John Hopkinson	  	 	 	 	08/07/02	  	08/07/06	  	5,000	  	3.2000	  	 	16,000.00	  	 
	Laura Jividen	  	 	 	 	08/07/02	  	08/07/06	  	5,000	  	3.2000	  	 	16,000.00	  	 
	Timothy Phillips Jr.	  	 	 	 	08/07/02	  	08/07/06	  	2,500	  	3.2000	  	 	8,000.00	  	 
	Kenneth Radigan Jr.	  	 	 	 	08/07/02	  	08/07/06	  	4,170	  	3.2000	  	 	13,344.00	  	 
	Timothy Smith	  	 	 	 	08/07/02	  	08/07/06	  	5,000	  	3.2000	  	 	16,000.00	  	 
	Snaryn Thompson	  	 	 	 	08/07/02	  	08/07/06	  	5,000	  	3.2000	  	 	16,000.00	  	 
	Gloria Vasquez	  	 	 	 	08/07/02	  	08/07/06	  	5,000	  	3.2000	  	 	16,000.00	  	 
	Julie Whalen	  	 	 	 	08/07/02	  	08/07/06	  	5,000	  	3.2000	  	 	16,000.00	  	 
	Patty Christopher	  	 	 	 	08/07/02	  	08/07/06	  	15,000	  	3.2000	  	 	48,000.00	  	 
	Kent Harmony	  	 	 	 	08/07/02	  	08/07/06	  	15,000	  	3.2000	  	 	48,000.00	  	 
	Timothy Murin	  	 	 	 	08/07/02	  	08/07/06	  	15,000	  	3.2000	  	 	48,000.00	  	 
	Kent Lina	  	 	 	 	08/07/02	  	08/07/06	  	10,000	  	3.2000	  	 	32,000.00	  	 
								
	Cory Knote	  	*	*	 	03/29/04	  	03/29/08	  	14,000	  	10.9700	  	 	153,580.00	  	 
	Donald Kincheloe	  	*	*	 	04/04/04	  	04/01/08	  	21,000	  	10.8000	  	 	226,800.00	  	 
	Anthony Koester	  	*	*	 	04/16/04	  	04/16/08	  	5,000	  	11.6000	  	 	58,000.00	  	 
	Michael McGinnis	  	*	*	 	04/16/04	  	04/16/08	  	5,000	  	11.6000	  	 	58,000.00	  	 
	HL Darby	  	*	*	 	04/16/04	  	04/16/08	  	5,000	  	11.6000	  	 	58,000.00	  	 
	Joshua Platt	  	*	*	 	05/01/04	  	05/01/08	  	10,000	  	13.4300	  	 	134,300.00	  	 
	Greg Olson	  	*	*	 	05/25/04	  	05/25/08	  	23,000	  	13.3100	  	 	306,130.00	  	 
	 	  	 	 	 	 	  	 	  	
	  	 	  	
	
	  	 
	 *       Vesting over 4 years
	  	 	 	 	 	  	 	  	4,659,442	  	 	  	$	19,206,109.88	  	 
	 	  	 	 	 	 	  	 	  	
	  	 	  	
	
	  	 
	 **     Vesting After 1 year
	  	 	 	 	 	  	 	  	 	  	 	  	 	 	  	 
	Average Price per Option inside the Plan	  	 	 	 	 	  	 	  	 	  	 	  	$	4.12	  	 
	 	  	 	 	 	 	  	 	  	 	  	 	  	
	
	  	 
	 	  	 	 	 	 	  	 	  	 	  	 	  	 	 	  	 
	 	  	 	 	 	 	  	 	  	4,659,442	  	 	  	 	 	  	 
	 	  	 	 	 	 	  	 	  	
	  	 	  	 	 	  	 
	Average Price per Option inside and outside the Plan	  	 	 	 	 	  	 	  	 	  	 	  	$	4.12	  	 
	 	  	 	 	 	 	  	 	  	 	  	 	  	
	
	  	 

  

 Schedule 7.13 - 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}]]