Common use of Conditions Precedent to Loans and Letters of Credit Clause in Contracts

Conditions Precedent to Loans and Letters of Credit. 53 Section 3.1. Conditions To Effectiveness 53 Section 3.2. Each Credit Event 55 Section 3.3. Delivery of Documents 57 TABLE OF CONTENTS (continued) Page ARTICLE IV REPRESENTATIONS AND WARRANTIES 57 Section 4.1. Existence; Power 57 Section 4.2. Organizational Power; Authorization 57 Section 4.3. Governmental Approvals; No Conflicts 57 Section 4.4. Financial Statements 57 Section 4.5. Litigation and Environmental Matters 58 Section 4.6. Compliance with Laws and Agreements; Note Purchase Agreement Representations 58 Section 4.7. Investment Company Act, Etc. 58 Section 4.8. Taxes 58 Section 4.9. Margin Regulations 59 Section 4.10. ERISA 59 Section 4.11. Ownership of Property 60 Section 4.12. Disclosure 60 Section 4.13. Labor Relations 60 Section 4.14. Subsidiaries 61 Section 4.15. Personal Holding Company; Subchapter S 61 Section 4.16. Solvency 61 Section 4.17. Foreign Assets Control Regulations, Etc. 61 Section 4.18. OFAC 61 Section 4.19. Capital 62 Section 4.20. Health Care Permits 62 Section 4.21. Health Care Laws 62 Section 4.22. HIPAA 63 ARTICLE V AFFIRMATIVE COVENANTS 64 Section 5.1. Financial Statements and Other Information 64 Section 5.2. Notices of Material Events 66 Section 5.3. Existence; Conduct of Business 67 Section 5.4. Compliance with Laws, Etc. 67 Section 5.5. Payment of Obligations 67 Section 5.6. Books and Records 67 Section 5.7. Visitation, Inspection, Etc. 67 Section 5.8. Maintenance of Properties; Insurance 68 Section 5.9. Use of Proceeds 68 Section 5.10. Additional Subsidiaries 68 Section 5.11. Security Documents 69 Section 5.12. Health Care 70 Section 5.13. Further Assurances 70 Section 5.14. Covenant to Secure Obligations Equally 70 Section 5.15. Guaranteed Obligations 70 TABLE OF CONTENTS (continued) Page ARTICLE VI FINANCIAL COVENANTS 71 Section 6.1. Leverage Ratio 71 Section 6.2. Interest Coverage Ratio 71 Section 6.3. Consolidated Net Worth 71 ARTICLE VII NEGATIVE COVENANTS 71 Section 7.1. Indebtedness 71 Section 7.2. Negative Pledge 72 Section 7.3. Fundamental Changes 73 Section 7.4. Investments, Loans, Etc. 73 Section 7.5. Restricted Payments 74 Section 7.6. Sale of Assets 75 Section 7.7. Transactions with Affiliates 75 Section 7.8. Restrictive Agreements 75 Section 7.9. Sale and Leaseback Transactions 76 Section 7.10. Hedging Agreements 76 Section 7.11. Amendment to Material Documents 76 Section 7.12. Accounting Changes 77 Section 7.13. Acquisitions 77 Section 7.14. Subsidiaries 77 Section 7.15. ERISA Violation 78 Section 7.16. Government Regulation 78 Section 7.17. Permitted Subordinated Indebtedness 78 Section 7.18. Most Favored Lender Status 78 ARTICLE VIII EVENTS OF DEFAULT 79 Section 8.1. Events of Default 79 Section 8.2. Application of Proceeds from Collateral 82 Section 8.3. Other Remedies 83 ARTICLE IX THE ADMINISTRATIVE AGENT 84 Section 9.1. Appointment of Administrative Agent 84 Section 9.2. Nature of Duties of Administrative Agent 84 Section 9.3. Lack of Reliance on the Administrative Agent 85 Section 9.4. Certain Rights of the Administrative Agent 85 Section 9.5. Reliance by Administrative Agent 85 Section 9.6. The Administrative Agent in its Individual Capacity 86 Section 9.7. Successor Administrative Agent 86 Section 9.8. Authorization to Execute other Loan Documents; Collateral 86 Section 9.9. No Other Duties, Etc. 87 Section 9.10. Withholding Tax 88 Section 9.11. Administrative Agent May File Proofs of Claim 88 iii TABLE OF CONTENTS (continued) Page ARTICLE X MISCELLANEOUS 89 Section 10.1. Notices 89 Section 10.2. Waiver; Amendments 91 Section 10.3. Expenses; Indemnification 92 Section 10.4. Successors and Assigns 94 Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process 98 Section 10.6. WAIVER OF JURY TRIAL 98 Section 10.7. Right of Setoff 99 Section 10.8. Counterparts; Integration 99 Section 10.9. Survival 99 Section 10.10. Severability 100 Section 10.11. Confidentiality 100 Section 10.12. Interest Rate Limitation 100 Section 10.13. Waiver of Effect of Corporate Seal 101 Section 10.14. Patriot Act 101 Section 10.15. Independence of Covenants 101 Section 10.16. Replacement Intercreditor Agreement 101

Conditions Precedent to Loans and Letters of Credit. 53 66 Section 3.1. Conditions To to Effectiveness 53 66 Section 3.2. Conditions to Each Credit Event 55 69 Section 3.3. Delivery of Documents 57 TABLE OF CONTENTS (continued) Page Post-Closing Requirements 69 ARTICLE IV REPRESENTATIONS AND WARRANTIES 57 70 Section 4.1. Existence; Power 57 70 Section 4.2. Organizational Power; Authorization 57 70 Section 4.3. Governmental Approvals; No Conflicts 57 70 Section 4.4. Financial Statements 57 70 Section 4.5. Litigation and Environmental Matters 58 71 Section 4.6. Compliance with Laws and Agreements; Note Purchase Agreement Representations 58 Agreements 71 Section 4.7. Investment Company Act, Etc. 58 Act 71 Section 4.8. Taxes 58 71 i TABLE OF CONTENTS (cont’d) Section 4.9. Margin Regulations 59 72 Section 4.10. ERISA 59 Pension 72 Section 4.11. Ownership of Property 60 Property; Insurance 73 Section 4.12. Disclosure 60 74 Section 4.13. Labor Relations 60 74 Section 4.14. Subsidiaries 61 74 Section 4.15. Personal Holding Company; Subchapter S 61 Solvency 74 Section 4.16. Solvency 61 Deposit and Disbursement Accounts 74 Section 4.17. Foreign Assets Control Regulations, Etc. 61 Collateral Documents 75 Section 4.18. OFAC 61 Centre of Main Interests and Establishments 76 Section 4.19. Capital 62 Material Agreements 76 Section 4.20. Health Care Permits 62 Sanctions and Anti-Corruption Laws 76 Section 4.21. Health Care Laws 62 Patriot Act 76 Section 4.22. HIPAA 63 Material Music Copyrights 76 Section 4.23. Music Agreements 78 Section 4.24. No Infringement; Title 79 Section 4.25. Performance of Music Agreements 80 Section 4.26. Material Music Copyrights 80 Section 4.27. Storage Facilities 80 ARTICLE V AFFIRMATIVE COVENANTS 64 80 Section 5.1. Financial Statements and Other Information 64 80 Section 5.2. Notices of Material Events 66 82 Section 5.3. Existence; Conduct of Business 67 84 Section 5.4. Compliance with Laws, Etc. 67 Laws 84 Section 5.5. Payment of Obligations 67 84 Section 5.6. Books and Records 67 84 Section 5.7. Visitation, Inspection, Etc. 67 Visitation and Inspection 84 Section 5.8. Maintenance of Properties; Insurance 68 85 Section 5.9. Use of Proceeds 68 Proceeds; Margin Regulations 85 Section 5.10. Additional Subsidiaries 68 Casualty and Condemnation 85 Section 5.11. Security Documents 69 Cash Management 85 Section 5.12. Health Care 70 Additional Subsidiaries and Collateral 86 Section 5.13. Further Assurances 70 Intentionally Omitted 88 Section 5.14. Covenant to Secure Obligations Equally 70 Further Assurances 88 Section 5.15. Guaranteed Obligations 70 TABLE OF CONTENTS (continued) Page Intentionally Omitted 88 Section 5.16. Storage Facilities; No Removal 88 Section 5.17. People with Significant Control Regime 89 Section 5.18. UK Pension 89 ARTICLE VI FINANCIAL COVENANTS 71 89 Section 6.1. Leverage Ratio 71 89 Section 6.2. Interest Fixed Charge Coverage Ratio 71 89 Section 6.3. Consolidated Net Worth 71 Senior Debt to Library Value 89 ARTICLE VII NEGATIVE COVENANTS 71 90 Section 7.1. Indebtedness 71 and Preferred Equity 90 Section 7.2. Negative Pledge 72 Liens 92 Section 7.3. Fundamental Changes 73 93 Section 7.4. Investments, Loans, Etc. 73 Loans 94 TABLE OF CONTENTS (cont’d) Section 7.5. Restricted Payments 74 96 Section 7.6. Sale of Assets 75 Assets. 97 Section 7.7. Transactions with Affiliates 75 98 Section 7.8. Restrictive Agreements 75 99 Section 7.9. Sale and Leaseback Transactions 76 99 Section 7.10. Hedging Agreements 76 Transactions 99 Section 7.11. Amendment to Material Documents 76 100 Section 7.12. Accounting Changes 77 Intentionally Omitted 100 Section 7.13. Acquisitions 77 Accounting Changes 100 Section 7.14. Subsidiaries 77 Government Regulation 100 Section 7.15. ERISA Violation 78 Section 7.16Sanctions and Anti-Corruption Laws. Government Regulation 78 Section 7.17. Permitted Subordinated Indebtedness 78 Section 7.18. Most Favored Lender Status 78 ARTICLE VIII EVENTS OF DEFAULT 79 Section 8.1. Events of Default 79 Section 8.2. Application of Proceeds from Collateral 82 Section 8.3. Other Remedies 83 ARTICLE IX THE ADMINISTRATIVE AGENT 84 Section 9.1. Appointment of Administrative Agent 84 Section 9.2. Nature of Duties of Administrative Agent 84 Section 9.3. Lack of Reliance on the Administrative Agent 85 Section 9.4. Certain Rights of the Administrative Agent 85 Section 9.5. Reliance by Administrative Agent 85 Section 9.6. The Administrative Agent in its Individual Capacity 86 Section 9.7. Successor Administrative Agent 86 Section 9.8. Authorization to Execute other Loan Documents; Collateral 86 Section 9.9. No Other Duties, Etc. 87 Section 9.10. Withholding Tax 88 Section 9.11. Administrative Agent May File Proofs of Claim 88 iii TABLE OF CONTENTS (continued) Page ARTICLE X MISCELLANEOUS 89 Section 10.1. Notices 89 Section 10.2. Waiver; Amendments 91 Section 10.3. Expenses; Indemnification 92 Section 10.4. Successors and Assigns 94 Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process 98 Section 10.6. WAIVER OF JURY TRIAL 98 Section 10.7. Right of Setoff 99 Section 10.8. Counterparts; Integration 99 Section 10.9. Survival 99 Section 10.10. Severability 100 Section 10.11. Confidentiality 100 Section 10.12. Interest Rate Limitation 100 Section 10.13. Waiver of Effect of Corporate Seal 101 Section 10.14. Patriot Act 101 Section 10.15. Independence of Covenants 101 Section 10.16. Replacement Intercreditor Agreement 101100

Conditions Precedent to Loans and Letters of Credit. 53 74 Section 3.1. 3.1 Conditions To to Effectiveness 53 74 Section 3.2. 3.2 Conditions to Each Credit Event 55 77 Section 3.3. 3.3 Delivery of Documents 57 TABLE OF CONTENTS (continued) Page ARTICLE 78 Section 3.4 Effect of Amendment and Restatement 78 Article IV REPRESENTATIONS AND WARRANTIES 57 78 Section 4.1. 4.1 Existence; Power 57 79 Section 4.2. 4.2 Organizational Power; Authorization 57 79 Section 4.3. 4.3 Governmental Approvals; No Conflicts 57 79 Section 4.4. 4.4 Financial Statements 57 79 Section 4.5. 4.5 Litigation and Environmental Matters 58 Matters. 79 Section 4.6. 4.6 Compliance with Laws and Agreements; Note Purchase Agreement Representations 58 Agreements 80 Section 4.7. 4.7 Investment Company Act, Etc. 58 Act 80 Section 4.8. 4.8 Taxes 58 80 Section 4.9. 4.9 Margin Regulations 59 80 Section 4.10. 4.10 ERISA 59 80 Section 4.11. 4.11 Ownership of Property 60 Property; Insurance. 81 Section 4.124.12 Disclosure. Disclosure 60 82 Section 4.13. 4.13 Labor Relations 60 82 Section 4.144.14 Subsidiaries 82 Section 4.15 Solvency 83 Section 4.16 Deposit and Disbursement Accounts 83 Section 4.17 Collateral Documents. Subsidiaries 61 83 Section 4.154.18 Associated Practice Documents; APC 2019 Transaction Documents 84 Section 4.19 Material Agreements 84 Section 4.20 Sanctions and Anti-Corruption Laws. Personal Holding Company; Subchapter S 61 84 Section 4.16. Solvency 61 4.21 Affected Financial Institutions 84 Section 4.17. Foreign Assets Control Regulations, Etc. 61 4.22 Healthcare Matters 84 Section 4.18. OFAC 61 Section 4.19. Capital 62 Section 4.20. Health Care Permits 62 Section 4.21. Health Care Laws 62 Section 4.22. HIPAA 63 ARTICLE V AFFIRMATIVE COVENANTS 64 Section 5.1. Financial Statements and Other Information 64 Section 5.2. Notices of Material Events 66 Section 5.3. Existence; Conduct of Business 67 Section 5.4. Compliance with Laws, Etc. 67 Section 5.5. Payment of Obligations 67 Section 5.6. Books and Records 67 Section 5.7. Visitation, Inspection, Etc. 67 Section 5.8. Maintenance of Properties; Insurance 68 Section 5.9. 4.23 Use of Proceeds 68 Section 5.10. Additional Subsidiaries 68 Section 5.11. Security Documents 69 Section 5.12. Health Care 70 Section 5.13. Further Assurances 70 Section 5.14. Covenant to Secure Obligations Equally 70 Section 5.15. Guaranteed Obligations 70 TABLE OF CONTENTS (continued) Page ARTICLE VI FINANCIAL COVENANTS 71 Section 6.1. Leverage Ratio 71 Section 6.2. Interest Coverage Ratio 71 Section 6.3. Consolidated Net Worth 71 ARTICLE VII NEGATIVE COVENANTS 71 Section 7.1. Indebtedness 71 Section 7.2. Negative Pledge 72 Section 7.3. Fundamental Changes 73 Section 7.4. Investments, Loans, Etc. 73 Section 7.5. Restricted Payments 74 Section 7.6. Sale of Assets 75 Section 7.7. Transactions with Affiliates 75 Section 7.8. Restrictive Agreements 75 Section 7.9. Sale and Leaseback Transactions 76 Section 7.10. Hedging Agreements 76 Section 7.11. Amendment to Material Documents 76 Section 7.12. Accounting Changes 77 Section 7.13. Acquisitions 77 Section 7.14. Subsidiaries 77 Section 7.15. ERISA Violation 78 Section 7.16. Government Regulation 78 Section 7.17. Permitted Subordinated Indebtedness 78 Section 7.18. Most Favored Lender Status 78 ARTICLE VIII EVENTS OF DEFAULT 79 Section 8.1. Events of Default 79 Section 8.2. Application of Proceeds from Collateral 82 Section 8.3. Other Remedies 83 ARTICLE IX THE ADMINISTRATIVE AGENT 84 Section 9.1. Appointment of Administrative Agent 84 Section 9.2. Nature of Duties of Administrative Agent 84 Section 9.3. Lack of Reliance on the Administrative Agent 85 Section 9.4. Certain Rights of the Administrative Agent 85 Section 9.5. Reliance by Administrative Agent 85 Section 9.6. The Administrative Agent in its Individual Capacity 86 Section 9.7. Successor Administrative Agent 86 Section 9.8. Authorization to Execute other Loan Documents; Collateral 86 Section 9.9. No Other Duties, Etc. 87 Section 9.10. Withholding Tax 88 Section 9.11. Administrative Agent May File Proofs of Claim 88 iii TABLE OF CONTENTS (continued) Page ARTICLE X MISCELLANEOUS 89 Section 10.1. Notices 89 Section 10.2. Waiver; Amendments 91 Section 10.3. Expenses; Indemnification 92 Section 10.4. Successors and Assigns 94 Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process 98 Section 10.6. WAIVER OF JURY TRIAL 98 Section 10.7. Right of Setoff 99 Section 10.8. Counterparts; Integration 99 Section 10.9. Survival 99 Section 10.10. Severability 100 Section 10.11. Confidentiality 100 Section 10.12. Interest Rate Limitation 100 Section 10.13. Waiver of Effect of Corporate Seal 101 Section 10.14. Patriot Act 101 Section 10.15. Independence of Covenants 101 Section 10.16. Replacement Intercreditor Agreement 10184

Conditions Precedent to Loans and Letters of Credit. 53 Section 3.1. Conditions To to Effectiveness 53 Section 3.2. Conditions to Each Credit Event 55 Section 3.3. Post-Closing Conditions 38 Section 3.4. Delivery of Documents 57 TABLE OF CONTENTS (continued) Page ARTICLE IV REPRESENTATIONS AND WARRANTIES 57 38 Section 4.1. Existence; Power 57 Section 4.2. Organizational Power; Authorization 57 Section 4.3. Governmental Approvals; No Conflicts 57 39 Section 4.4. Financial Statements 57 39 Section 4.5. Litigation and Environmental Matters 58 Matters. 39 Section 4.6. Compliance with Laws and Agreements; Note Purchase Agreement Representations 58 Agreements Section 4.7. Investment Company Act, Etc. 58 Act 40 Section 4.8. Taxes 58 40 Section 4.9. Margin Regulations 59 40 Section 4.10. ERISA 59 41 Section 4.11. Ownership of Property 60 Property; Insurance. 41 Section 4.12. Disclosure 60 42 Section 4.13. Labor Relations 60 42 Section 4.14. Subsidiaries 61 42 Section 4.15. Personal Holding Company; Subchapter S 61 Solvency 42 Section 4.16. Solvency 61 Deposit and Disbursement Accounts 43 Section 4.17. Foreign Assets Control Regulations, EtcCollateral Documents. 61 43 Section 4.18. OFAC 61 Restriction on Liens 43 Section 4.19. Capital 62 Material Agreements Section 4.20. Health Care Permits 62 OFAC; Foreign Corrupt Practices Act i Section 4.21. Health Care Laws 62 Patriot Act Section 4.22. HIPAA 63 Gas Imbalances; Prepayments 44 Section 4.23. Marketing of Production 44 Section 4.24. Hedging Transactions and Qualified ECP Guarantor 44 Section 4.25. Stanford 44 ARTICLE V AFFIRMATIVE COVENANTS 64 44 Section 5.1. Financial Statements and Other Information 64 44 Section 5.2. Notices of Material Events 66 45 Section 5.3. Existence; Conduct of Business 67 Section 5.4. Compliance with Laws, Etc. 67 Laws Section 5.5. Payment of Obligations 67 Section 5.6. Books and Records 67 47 Section 5.7. Visitation, Inspection, Etc. 67 Visitation and Inspection Section 5.8. Maintenance of Properties; Insurance 68 47 Section 5.9. Use of Proceeds 68 Proceeds; Margin Regulations Section 5.10. Additional Subsidiaries 68 Casualty and Condemnation 47 Section 5.11. Security Documents 69 Cash Management Section 5.12. Health Care 70 Additional Subsidiaries and Collateral. Section 5.13. Further Assurances 70 Reserve Reports. 49 Section 5.14. Covenant to Secure Obligations Equally 70 Title Information. 49 Section 5.15. Guaranteed Obligations 70 TABLE OF CONTENTS (continued) Page Additional Mortgaged Property 50 Section 5.16. Further Assurances 50 Section 5.17. Environmental Matters. 50 Section 5.18. Commodity Exchange Act Keepwell Provisions 51 ARTICLE VI FINANCIAL COVENANTS 71 51 Section 6.1. Leverage Ratio 71 51 Section 6.2. Interest Coverage Current Ratio 71 Section 6.3. Consolidated Net Worth 71 ARTICLE VII NEGATIVE COVENANTS 71 51 Section 7.1. Indebtedness 71 and Preferred Equity 51 Section 7.2. Negative Pledge 72 Liens 52 Section 7.3. Fundamental Changes 73 Changes. 52 Section 7.4. Investments, Loans, Etc. 73 Loans Section 7.5. Restricted Payments 74 Section 7.6. Sale of Assets 75 Properties; Termination of Hedging Transactions Section 7.7. Transactions with Affiliates 75 54 Section 7.8. Restrictive Agreements 75 Section 7.9. Sale and Leaseback Transactions 76 54 Section 7.10. Hedging Agreements 76 Transactions. Section 7.11. Amendment to Material Documents 76 Section 7.12. Accounting Changes 77 Sale or Discount of Receivables 55 Section 7.13. Acquisitions 77 Accounting Changes 55 Section 7.14. Subsidiaries 77 Lease Obligations 55 Section 7.15. ERISA Violation 78 Government Regulation Section 7.16. Government Regulation 78 Gas Imbalances, Take-or-Pay or Other Prepayments Section 7.17. Permitted Subordinated Indebtedness 78 Marketing Activities Section 7.18. Most Favored Lender Status 78 Non-Qualified ECP Guarantors 56 Section 7.19. Environmental Matters 56 Section 7.20. Stanford 56 ARTICLE VIII EVENTS OF DEFAULT 79 56 Section 8.1. Events of Default 79 Section 8.2. Application of Proceeds from Collateral 82 Section 8.3. Other Remedies 83 58 ARTICLE IX THE ADMINISTRATIVE AGENT 84 59 Section 9.1. Appointment of the Administrative Agent 84 Agent. Section 9.2. Nature of Duties of the Administrative Agent 84 Section 9.3. Lack of Reliance on the Administrative Agent 85 Section 9.4. Certain Rights of the Administrative Agent 85 60 Section 9.5. Reliance by the Administrative Agent 85 60 Section 9.6. The Administrative Agent in its Individual Capacity 86 61 Section 9.7. Successor Administrative Agent 86 Agent. 61 Section 9.8. Authorization to Execute other Loan Documents; Collateral 86 Section 9.9. No Other Duties, Etc. 87 Section 9.10. Withholding Tax 88 Section 9.11. Administrative Agent May File Proofs of Claim 88 iii TABLE OF CONTENTS (continued) Page ARTICLE X MISCELLANEOUS 89 Section 10.1. Notices 89 Section 10.2. Waiver; Amendments 91 Section 10.3. Expenses; Indemnification 92 Section 10.4. Successors and Assigns 94 Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process 98 Section 10.6. WAIVER OF JURY TRIAL 98 Section 10.7. Right of Setoff 99 Section 10.8. Counterparts; Integration 99 Section 10.9. Survival 99 Section 10.10. Severability 100 Section 10.11. Confidentiality 100 Section 10.12. Interest Rate Limitation 100 Section 10.13. Waiver of Effect of Corporate Seal 101 Section 10.14. Patriot Act 101 Section 10.15. Independence of Covenants 101 Section 10.16. Replacement Intercreditor Agreement 101Tax

Conditions Precedent to Loans and Letters of Credit. 53 Section 3.1. Conditions To to Effectiveness 53 Section 3.2. Conditions to Each Credit Event 55 57 Section 3.3. Delivery of Documents 57 TABLE OF CONTENTS (continued) Page ARTICLE Article IV REPRESENTATIONS AND WARRANTIES 57 Section 4.1. Existence; Power 57 Section 4.2. Organizational Power; Authorization 57 Section 4.3. Governmental Approvals; No Conflicts 57 58 Section 4.4. Financial Statements 57 58 Section 4.5. Litigation and Environmental Matters 58 Section 4.6. Compliance with Laws and Agreements; Note Purchase Agreement Representations 58 Agreements 59 Section 4.7. Investment Company Act, Etc. 58 Act 59 Section 4.8. Taxes 58 59 Section 4.9. Margin Regulations 59 Section 4.10. ERISA 59 60 Section 4.11. Ownership of Property Property; Insurance 60 Section 4.12. Disclosure 60 61 Section 4.13. Labor Relations 60 61 Section 4.14. Subsidiaries 61 62 Section 4.15. Personal Holding Company; Subchapter S 61 Solvency 62 Section 4.16. Solvency 61 Deposit and Disbursement Accounts 62 Section 4.17. Foreign Assets Control Regulations, Etc. 61 Collateral Documents 62 Section 4.18. OFAC 61 Restriction on Liens 62 Section 4.19. Capital 62 Material Agreements 63 Section 4.20. Health Care Permits 62 Sanctions and Anti-Corruption Laws 63 Section 4.21. Health Care Laws 62 Patriot Act 63 Section 4.22. HIPAA Gas Imbalances; Prepayments 63 ARTICLE Section 4.23. Marketing of Production 63 Section 4.24. Hedging Transactions and Qualified ECP Guarantor 63 Section 4.25. Affected Financial Institutions 63 Article V AFFIRMATIVE COVENANTS 64 Section 5.1. Financial Statements and Other Information 64 Section 5.2. Notices of Material Events 66 65 Section 5.3. Existence; Conduct of Business 67 66 Section 5.4. Compliance with Laws, Etc. 67 Laws 66 Section 5.5. Payment of Obligations 67 66 Section 5.6. Books and Records 67 66 Section 5.7. Visitation, Inspection, Etc. Visitation and Inspection 67 Section 5.8. Maintenance of Properties; Insurance 68 67 Section 5.9. Use of Proceeds 68 Proceeds; Margin Regulations 67 Section 5.10. Additional Subsidiaries Casualty and Condemnation 68 Section 5.11. Security Documents 69 Cash Management 68 Section 5.12. Health Care Additional Subsidiaries and Collateral 68 Section 5.13. Reserve Reports 69 Section 5.14. Title Information 70 Section 5.135.15. Additional Mortgaged Property 70 Section 5.16. Further Assurances 70 Section 5.145.17. Covenant to Secure Obligations Equally 70 Environmental Matters 71 Section 5.155.18. Guaranteed Obligations 70 TABLE OF CONTENTS (continued) Page ARTICLE Commodity Exchange Act Keepwell Provisions 71 Section 5.19. Minimum Hedging 72 Section 5.20. Additional Beneficial Ownership Certifications 72 Article VI FINANCIAL COVENANTS 71 72 Section 6.1. Leverage Ratio 71 72 Section 6.2. Interest Coverage Current Ratio 71 Section 6.3. Consolidated Net Worth 71 ARTICLE 72 Article VII NEGATIVE COVENANTS 71 73 Section 7.1. Indebtedness 71 and Preferred Equity 73 Section 7.2. Negative Pledge 72 Liens 73 Section 7.3. Fundamental Changes 73 74 Section 7.4. Investments, Loans, Etc. 73 Loans 74 Section 7.5. Restricted Payments 74 75 Section 7.6. Sale of Assets Properties; Termination of Hedging Transactions 75 Section 7.7. Transactions with Affiliates 75 76 Section 7.8. Restrictive Agreements 75 76 Section 7.9. Sale and Leaseback Transactions 76 Section 7.10. Hedging Agreements 76 Transactions 77 Section 7.11. Amendment to Material Documents 76 77 Section 7.12. Sale or Discount of Receivables 77 Section 7.13. Accounting Changes 77 Section 7.13. Acquisitions 77 Section 7.14. Subsidiaries Lease Obligations 77 Section 7.15. ERISA Violation Sanctions and Anti-Corruption Laws 78 Section 7.16. Government Regulation Gas Imbalances, Take-or-Pay or Other Prepayments 78 Section 7.17. Permitted Subordinated Indebtedness Marketing Activities 78 Section 7.18. Most Favored Lender Status Non-Qualified ECP Guarantors 78 ARTICLE Section 7.19. Environmental Matters 78 Article VIII EVENTS OF DEFAULT 79 78 Section 8.1. Events of Default 79 78 Section 8.2. Application of Proceeds from Collateral 82 Section 8.3. Other Remedies 83 ARTICLE 81 Article IX THE ADMINISTRATIVE AGENT 84 82 Section 9.1. Appointment of the Administrative Agent 84 82 Section 9.2. Nature of Duties of the Administrative Agent 84 82 Section 9.3. Lack of Reliance on the Administrative Agent 85 and the Joint Lead Arrangers 83 Section 9.4. Certain Rights of the Administrative Agent 85 83 Section 9.5. Reliance by the Administrative Agent 85 83 Section 9.6. The Administrative Agent in its Individual Capacity 86 84 Section 9.7. Successor Administrative Agent 86 84 Section 9.8. Authorization to Execute other Loan Documents; Collateral 86 Withholding Tax 85 Section 9.9. No Other Duties, Etc. 87 Section 9.10. Withholding Tax 88 Section 9.11. The Administrative Agent May File Proofs of Claim 88 iii TABLE OF CONTENTS (continued) Page ARTICLE 85 Section 9.10. Authorization to Execute Other Loan Documents 85 Section 9.11. Collateral and Guaranty Matters 86 Section 9.12. Right to Realize on Collateral and Enforce Guarantee 86 Section 9.13. Secured Bank Product Obligations and Hedging Obligations 86 Section 9.14. Erroneous Payments 87 Article X MISCELLANEOUS 89 Section 10.1. Notices 89 Section 10.2. Waiver; Amendments 91 Section 10.3. Expenses; Indemnification 92 93 Section 10.4. Successors and Assigns 94 95 Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process 98 Section 10.6. WAIVER OF JURY TRIAL 98 Section 10.7. Right of Setoff Set-off 99 Section 10.8. Counterparts; Integration 99 Section 10.9. Survival 99 Section 10.10. Severability 100 99 Section 10.11. Confidentiality 100 Section 10.12. Interest Rate Limitation 100 Section 10.13. Waiver of Effect of Corporate Seal 101 100 Section 10.14. Patriot Act 101 100 Section 10.15. Independence of Covenants No Advisory or Fiduciary Responsibility 101 Section 10.16. Replacement Intercreditor Acknowledgement and Consent to Bail-In of Affected Financial Institutions 101 Section 10.17. Certain ERISA Matters 101 Section 10.18. Existing Credit Agreement 101102 Section 10.19. Acknowledgement Regarding Any Supported QFCs 102 Section 10.20. Electronic Signature 103 Section 10.21. Location of Closing 103 Schedules Schedule I - Applicable Margin and Applicable Percentage Schedule II - Maximum Loan Amounts Schedule 4.5 - Environmental Matters Schedule 4.14 - Subsidiaries Schedule 4.16 - Deposit and Disbursement Accounts Schedule 4.19 - Material Agreements Schedule 4.22 - Gas Imbalances; Prepayments Schedule 4.23 - Marketing of Production Schedule 4.24 - Hedging Transactions Schedule 7.1 - Existing Indebtedness Schedule 7.2 - Existing Liens Schedule 7.4 - Existing Investments Exhibits Exhibit A - Form of Assignment and Acceptance Exhibit 2.3 - Form of Notice of Borrowing Exhibit 2.6 - Form of Notice of Conversion/Continuation Exhibit 2.19 - Tax Certificates Exhibit 5.1(c) - Form of Compliance Certificate SECOND AMENDED AND RESTATED CREDIT AGREEMENT THIS SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is made and entered into as of August 31, 2022, by and among RING ENERGY, INC., a Nevada corporation (the “Borrower”), the several banks and other financial institutions and lenders from time to time party hereto (the “Lenders”), and TRUIST BANK, in its capacity as administrative agent for the Lenders (the “Administrative Agent”) and as issuing bank (the “Issuing Bank”).