Amendment to Section 9.12 of the Credit Agreement

Amendment to Section 9.12 of the Credit Agreement. Section 9.12 of the Credit Agreement is hereby amended to (i) change the lettering of clause (g) to clause (h) and amend and restate the reference to 'Sections 9.12(a) to (f)' in such new clause (h) with 'Sections 9.12(a) to (g)' and (ii) insert a new clause (g) which shall read in full as follows: (g) the sale or other disposition of the Rockies I Assets and/or the Rockies II Assets; provided that: (i) any such sale or disposition shall be consummated on or before the effectiveness of the... April 1, 2017 Scheduled Redetermination; (ii) no Default or Event of Default shall exist and the Aggregate Revolving Credit Exposures shall not exceed the Borrowing Base, in each case, immediately prior to or after giving effect to any such sale or disposition of Property; (iii) 100% of the consideration received in respect of any such sale or other disposition shall be cash; and (iv) the consideration received in respect of any such sale or other disposition shall be equal to or greater than the fair market value of the Oil and Gas Property (as reasonably determined by the board of directors (or comparable governing body) of the Borrower and the Borrower shall deliver a certificate of a Responsible Officer of the Borrower certifying to that effect). View More