SEC Contract Filing

Filing Date: 2021-03-19

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>8
<FILENAME>d131930dex103.htm
<DESCRIPTION>EX-10.3
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Version </I></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>To:</B></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Centennial Resource Production, LLC</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1001
Seventeenth Street, Suite 1800</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Denver, Colorado 80202</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Attn:
Will Weidig and George Glyphis</P></TD>
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<TD VALIGN="top"><B>From:</B></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">RBC Capital Markets, LLC</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">as Agent for Royal
Bank of Canada</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Brookfield Place</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">200 Vesey Street</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10281-1021</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Telephone: (212) <FONT
STYLE="white-space:nowrap">858-7000</FONT></P></TD>
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<TD VALIGN="top"><B>Re:</B></TD>
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<TD VALIGN="top">Base Capped Call Transaction</TD>
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<TD VALIGN="top"><B>Date:</B></TD>
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<TD VALIGN="top">March&nbsp;16, 2021</TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The purpose of this communication (this &#147;<B>Confirmation</B>&#148;) is to set forth the terms and conditions of the above-referenced
transaction entered into on the Trade Date specified below (the &#147;<B>Transaction</B>&#148;) among Royal Bank of Canada (&#147;<B>Dealer</B>&#148;), through its agent RBC Capital Markets, LLC (&#147;<B>Agent</B>&#148;), Centennial Resource
Production, LLC (&#147;<B>Counterparty</B>&#148;) and Centennial Resource Development, Inc. (&#147;<B>Parent</B>&#148;). This communication constitutes a &#147;Confirmation&#148; as referred to in the ISDA Master Agreement specified below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. This Confirmation is subject to, and incorporates, the definitions and provisions of the 2006 ISDA Definitions (the &#147;<B>2006
Definitions</B>&#148;) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the &#147;<B>Equity Definitions</B>&#148;, and together with the 2006 Definitions, the &#147;<B>Definitions</B>&#148;), in each case, as
published by the International Swaps and Derivatives Association, Inc. (&#147;<B>ISDA</B>&#148;). In the event of any inconsistency between the 2006 Definitions and the Equity Definitions, the Equity Definitions will govern and in the event of any
inconsistency between terms defined in the Equity Definitions and this Confirmation, this Confirmation shall govern. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Confirmation
evidences a complete and binding agreement among Dealer, Parent and Counterparty as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the &#147;<B>Agreement</B>&#148;) in the form
of the 2002 ISDA Master Agreement as if Dealer, Counterparty and Parent had executed an agreement in such form on the Trade Date (but without any Schedule except for (i)&nbsp;the election of the laws of the State of New York as the governing law
(without reference to choice of law doctrine and (ii)&nbsp;the election that the &#147;Cross Default&#148; provisions of Section&nbsp;5(a)(vi) of the Agre