Amendment to Section 8.12. Section 8.12 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:
Amendment to Section 8.12. Section 8.12 of the Credit Agreement is hereby amended by deleting such Section in its entirety and replacing it with the following:
Amendment to Section 8.12. Section 8.12 is hereby amended to read in its entirety as follows:
Amendment to Section 8.12. (a) The eighth sentence of Section 8.12 of the Agreement is hereby amended and restated as follows: “As used in this Agreement, “Rollover Agreements” means the agreements as amended on or before January 24, 2008 between certain stockholders of the Company who will be Rollover Participants and Parent or Parent’s affiliate.”
Amendment to Section 8.12. Section 8.12(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
(a) On or before June 1, 2019 and each October 1st and April 1st thereafter, the Borrower shall furnish to the Administrative Agent a Reserve Report evaluating the Oil and Gas Properties of the Borrower and its Subsidiaries as of the immediately preceding January 1st and July 1st, as applicable, or, with respect to the report required to be delivered on or before June 1, 2019, as of no earlier than May 1, 2019 (the “May 2019 Reserve Report”). The Reserve Report as of January 1st and delivered on or before April 1st of each year (the “January 1 Reserve Report”), shall be prepared by one or more Approved Petroleum Engineers, and the May 2019 Reserve Report and each Reserve Report as of July 1st and delivered on or before October 1st of each year, shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower (in a manner reasonably acceptable to the Administrative Agent) who shall certify such Reserve Report to be true and accurate in all material respects and, except as otherwise specified therein, to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve Report.
Amendment to Section 8.12. Each instance of the words “the Execution Date” in Section 8.12 of the Option Agreement are hereby replaced with “each of the Execution Date and the Amendment Date”.
Amendment to Section 8.12. Section 8.12 is hereby amended by replacing all references to “90%” therein with “85%”.
