Common use of CONDITIONS TO CLOSING 47 Clause in Contracts

CONDITIONS TO CLOSING 47. SECTION 9.1. Conditions Precedent to Obligations of NB Group and Assignors for each Closing 47 SECTION 9.2. Conditions Precedent to Obligations of NB Group for Delaware Closing 47 SECTION 9.3. Conditions Precedent to Obligations of Xxxxxx Delaware TC for Delaware Closing 48 SECTION 9.4. Conditions Precedent to Obligations of NB Group for New York Closing 49 SECTION 9.5. Conditions Precedent to Obligations of Xxxxxx National Bank TC for New York Closing 49 SECTION 9.6. Frustration of Closing Conditions 50 ARTICLE X TAXES 50 SECTION 10.1. Conveyance Taxes 50 SECTION 10.2. Prorations 50 SECTION 10.3. Purchase Price Allocation 50 SECTION 10.4. Procedure Compliance 51 SECTION 10.5. Other Tax Matters 51 ARTICLE XI INDEMNIFICATION 51 SECTION 11.1. Indemnification by Parent 52 SECTION 11.2. Certain Limitations on Indemnification 52 SECTION 11.3. Survival of Indemnification 53 SECTION 11.4. Indemnification Procedures 53 SECTION 11.5. Exclusive Remedy for Matters Subject to Indemnification 54 SECTION 11.6. Treatment of Indemnification Payments by Parent to an NB Group Indemnified Party 55 ARTICLE XII MISCELLANEOUS 55 SECTION 12.1. Non-Survival of Representations and Warranties 55 SECTION 12.2. Expenses 55 SECTION 12.3. Injunctive Relief 56 SECTION 12.4. Submission to Jurisdiction; Consent to Service of Process 56 TABLE OF CONTENTS (continued) Page SECTION 12.5. Waiver of Right to Trial by Jury 56 SECTION 12.6. Entire Agreement; Amendments and Waivers 56 SECTION 12.7. Governing Law 57 SECTION 12.8. Notices 57 SECTION 12.9. Severability 59 SECTION 12.10. Binding Effect; Assignment 59 SECTION 12.11. Treatment as Administrative Expenses 59 SECTION 12.12. Counterparts 59

CONDITIONS TO CLOSING 47. SECTION 9.1Section 7.01. Conditions Precedent to Each Party’s Obligations. 47 Section 7.02. Conditions to Obligations of NB Group and Assignors for each Closing 47 SECTION 9.2the Sellers. 48 Section 7.03. Conditions Precedent to Obligations of NB Group for Delaware Closing 47 SECTION 9.3the Buyer. Conditions Precedent to Obligations 49 ARTICLE VIII TERMINATION, AMENDMENT AND WAIVER 50 Section 8.01. Termination. 50 Section 8.02. Notice of Xxxxxx Delaware TC for Delaware Closing 48 SECTION 9.4Termination. Conditions Precedent to Obligations 50 Section 8.03. Effect of NB Group for New York Closing 49 SECTION 9.5Termination. Conditions Precedent to Obligations of Xxxxxx National Bank TC for New York Closing 49 SECTION 9.650 Section 8.04. Frustration of Closing Conditions 50 ARTICLE X TAXES 50 SECTION 10.1Extension; Waiver. Conveyance Taxes 50 SECTION 10.2. Prorations 50 SECTION 10.3. Purchase Price Allocation 50 SECTION 10.4. Procedure Compliance 51 SECTION 10.5. Other Tax Matters 51 ARTICLE XI IX INDEMNIFICATION 51 SECTION 11.1Section 9.01. Survival. 51 Section 9.02. Indemnification by Parent 52 SECTION 11.2the Sellers. Certain Limitations on Indemnification 52 SECTION 11.3. Survival of Indemnification 53 SECTION 11.451 Section 9.03. Indemnification Procedures 53 SECTION 11.5by the Buyer. 52 Section 9.04. Notification of Claims. 52 Section 9.05. Exclusive Remedy for Matters Subject to Remedies. 54 Section 9.06. Additional Indemnification Provisions. 54 SECTION 11.6Section 9.07. Treatment of Indemnification Payments by Parent to an NB Group Indemnified Mitigation. 55 Section 9.08. Third Party Recovery. 55 ARTICLE XII MISCELLANEOUS 55 SECTION 12.1X GENERAL PROVISIONS 56 Section 10.01. NonExpenses. 56 Section 10.02. Notices. 56 Section 10.03. Public Announcements. 57 Section 10.04. Severability. 58 Section 10.05. Entire Agreement. 58 Section 10.06. Assignment. 58 Section 10.07. No Third-Survival of Representations Party Beneficiaries. 58 Section 10.08. Amendment. 58 Section 10.09. Disclosure Schedule. 58 Section 10.10. Governing Law and Warranties 55 SECTION 12.2Dispute Resolution. Expenses 55 SECTION 12.3. Injunctive Relief 56 SECTION 12.4. Submission to Jurisdiction; Consent to Service of Process 56 TABLE OF CONTENTS (continued) Page SECTION 12.559 Section 10.11. Waiver of Right Jury Trial. 60 Section 10.12. Bulk Sales Laws. 60 Section 10.13. Specific Performance. 60 Section 10.14. Rules of Construction. 60 Section 10.15. Counterparts. 61 EXHIBITS Exhibit A Definitions Exhibit B Form of Deed Exhibit C Form of Assignment and Assumption of Lease Exhibit D Form of Xxxx of Sale, Assignment and Assumption Agreement Exhibit E Form of Employee Matters Agreement ASSET PURCHASE AGREEMENT This ASSET PURCHASE AGREEMENT, dated as of April 13, 2017, is made by and between COCA-COLA REFRESHMENTS USA, INC., a Delaware corporation (“CCR”; each of CCR and any Affiliate of CCR made a party hereto after the date hereof pursuant to Trial by Jury 56 SECTION 12.6Section 5.15 are referred to herein individually as a “Seller” and are referred to herein collectively as the “Sellers”), and COCA-COLA BOTTLING CO. Entire Agreement; Amendments and Waivers 56 SECTION 12.7. Governing Law 57 SECTION 12.8. Notices 57 SECTION 12.9. Severability 59 SECTION 12.10. Binding Effect; Assignment 59 SECTION 12.11. Treatment as Administrative Expenses 59 SECTION 12.12. Counterparts 59CONSOLIDATED, a Delaware corporation (the “Buyer”).

CONDITIONS TO CLOSING 47. SECTION 9.1. Conditions Precedent to Obligations of NB Group and Assignors for each Closing 47 SECTION 9.2. Conditions Precedent to Obligations of NB Group for Delaware Closing 47 SECTION 9.3. Conditions Precedent to Obligations of Xxxxxx Lehman Delaware TC for Delaware Closing 48 SECTION 9.4. Conditions Precedent to Obligations of NB Group for New York Closing 49 SECTION 9.5. Conditions Precedent to Obligations of Xxxxxx Lehman National Bank TC for New York Closing 49 SECTION 9.6. Frustration of Closing Conditions 50 ARTICLE X TAXES 50 SECTION 10.1. Conveyance Taxes 50 SECTION 10.2. Prorations 50 SECTION 10.3. Purchase Price Allocation 50 SECTION 10.4. Procedure Compliance 51 SECTION 10.5. Other Tax Matters 51 ARTICLE XI INDEMNIFICATION 51 SECTION 11.1. Indemnification by Parent 52 SECTION 11.2. Certain Limitations on Indemnification 52 SECTION 11.3. Survival of Indemnification 53 SECTION 11.4. Indemnification Procedures 53 SECTION 11.5. Exclusive Remedy for Matters Subject to Indemnification 54 SECTION 11.6. Treatment of Indemnification Payments by Parent to an NB Group Indemnified Party 55 ARTICLE XII MISCELLANEOUS 55 SECTION 12.1. Non-Survival of Representations and Warranties 55 SECTION 12.2. Expenses 55 SECTION 12.3. Injunctive Relief 56 SECTION 12.4. Submission to Jurisdiction; Consent to Service of Process 56 TABLE OF CONTENTS (continued) Page SECTION 12.5. Waiver of Right to Trial by Jury 56 SECTION 12.6. Entire Agreement; Amendments and Waivers 56 SECTION 12.7. Governing Law 57 SECTION 12.8. Notices 57 SECTION 12.9. Severability 59 SECTION 12.10. Binding Effect; Assignment 59 SECTION 12.11. Treatment as Administrative Expenses 59 SECTION 12.12. Counterparts 59

CONDITIONS TO CLOSING 47. SECTION 9.1. Section 6.1 Mutual Conditions Precedent to Obligations of NB Group and Assignors for each Closing 47 SECTION 9.2. Section 6.2 Seller Parties’ Conditions Precedent to Obligations of NB Group for Delaware Closing 47 SECTION 9.3. Section 6.3 Buyer Parties’ Conditions Precedent to Obligations of Xxxxxx Delaware TC for Delaware Closing 48 SECTION 9.4. Conditions Precedent to Obligations of NB Group for New York Closing 49 SECTION 9.5. Conditions Precedent to Obligations of Xxxxxx National Bank TC for New York Closing 49 SECTION 9.6. Section 6.4 Frustration of Closing Conditions 49 Article 7 CLOSING 49 Section 7.1 Closing Matters 49 Section 7.2 Obligations of Seller Parties at Closing 49 Section 7.3 Obligations of Buyer Parties at Closing 50 ARTICLE X TAXES 50 SECTION 10.1. Conveyance Taxes 50 SECTION 10.2. Prorations 50 SECTION 10.3. Purchase Price Allocation 50 SECTION 10.4. Procedure Compliance Article 8 TERMINATION 51 SECTION 10.5. Other Tax Matters Section 8.1 Termination 51 ARTICLE XI Section 8.2 Ability to Terminate 52 Section 8.3 Effect of Termination 52 Article 9 SURVIVAL AND REMEDIES; INDEMNIFICATION 51 SECTION 11.1. Indemnification by Parent 52 SECTION 11.2. Certain Limitations on Indemnification Section 9.1 Survival 52 SECTION 11.3. Survival of Indemnification 53 SECTION 11.4. Indemnification Procedures 53 SECTION 11.5. Section 9.2 Exclusive Remedy for Matters Subject 52 Article 10 MISCELLANEOUS 53 Section 10.1 Counterparts 53 Section 10.2 Notices 53 Section 10.3 Certain Fees 54 Section 10.4 Governing Law; Jurisdiction 54 Section 10.5 Waivers 55 Section 10.6 Assignment 55 Section 10.7 Entire Agreement 55 Section 10.8 Amendment 55 Section 10.9 No Third Party Beneficiaries 55 Section 10.10 Construction 55 Section 10.11 Limitation on Damages 55 Section 10.12 Conspicuous 56 Section 10.13 Time of Essence 56 Section 10.14 Severability 56 Section 10.15 Specific Performance 56 APPENDIX: Appendix A - Definitions EXHIBITS: Exhibit A - Form of Registration Rights Agreement Exhibit B - Form of Voting Agreement Exhibit C - R&W Conditional Binder Exhibit D - Form of Lock-up Agreement Exhibit E - Form of Independence Company Release SCHEDULES: Schedule 1.1(a) - Adjusted Net Debt Target Earthstone Disclosure Schedule Independence Disclosure Schedule PURCHASE AND SALE AGREEMENT This Purchase and Sale Agreement (this “Agreement”) is dated as of December 17, 2020 (the “Execution Date”), by and among Earthstone Energy Holdings, LLC, a Delaware limited liability company (“EEH”), Earthstone Energy, Inc., a Delaware corporation (“Earthstone”, and together with EEH, the “Buyer Parties”), and Independence Resources Holdings, LLC, a Delaware limited liability company (“Independence”), and Independence Resources Manager, LLC, a Delaware limited liability company (“Independence Manager” and together with Independence, the “Seller Parties”). Each of EEH, Earthstone, Independence and Independence Manager is sometimes referred to Indemnification 54 SECTION 11.6. Treatment of Indemnification Payments by Parent herein individually as a “Party” and, collectively, they are referred to an NB Group Indemnified Party 55 ARTICLE XII MISCELLANEOUS 55 SECTION 12.1. Non-Survival of Representations and Warranties 55 SECTION 12.2. Expenses 55 SECTION 12.3. Injunctive Relief 56 SECTION 12.4. Submission to Jurisdiction; Consent to Service of Process 56 TABLE OF CONTENTS (continued) Page SECTION 12.5. Waiver of Right to Trial by Jury 56 SECTION 12.6. Entire Agreement; Amendments and Waivers 56 SECTION 12.7. Governing Law 57 SECTION 12.8. Notices 57 SECTION 12.9. Severability 59 SECTION 12.10. Binding Effect; Assignment 59 SECTION 12.11. Treatment herein as Administrative Expenses 59 SECTION 12.12. Counterparts 59the “Parties.”

CONDITIONS TO CLOSING 47. SECTION 9.1. Section 7.1 Conditions Precedent to Each Party’s Obligation to Effect the Closing 47 Section 7.2 Additional Conditions to Obligations of NB Group and Assignors for each Buyer 48 Section 7.3 Additional Conditions to Obligation of Seller 48 ARTICLE VIII TERMINATION, TERMINATION FEES AND REMEDIES 49 Section 8.1 Termination 49 Section 8.2 Effect of Termination 51 Section 8.3 Remedies Before Closing 47 SECTION 9.2. Conditions Precedent to Obligations of NB Group for Delaware Closing 47 SECTION 9.3. Conditions Precedent to Obligations of Xxxxxx Delaware TC for Delaware Closing 48 SECTION 9.4. Conditions Precedent to Obligations of NB Group for New York Closing 49 SECTION 9.5. Conditions Precedent to Obligations of Xxxxxx National Bank TC for New York Closing 49 SECTION 9.6. Frustration of Closing Conditions 50 51 Section 8.4 Equitable Relief 52 ARTICLE X TAXES 50 SECTION 10.1. Conveyance Taxes 50 SECTION 10.2. Prorations 50 SECTION 10.3. Purchase Price Allocation 50 SECTION 10.4. Procedure Compliance 51 SECTION 10.5. Other Tax Matters 51 ARTICLE XI IX SURVIVAL; INDEMNIFICATION 51 SECTION 11.1. Indemnification by Parent 52 SECTION 11.2. Certain Limitations on Indemnification 52 SECTION 11.3. 53 Section 9.1 Survival of Representations, Warranties, Covenants and Agreements 53 Section 9.2 Indemnification 53 SECTION 11.4. Indemnification Procedures 53 SECTION 11.5. Exclusive Remedy for Matters Subject to Section 9.3 Tax Payments and Indemnification 54 SECTION 11.6. Treatment Section 9.4 Procedure for Claims between Parties 55 Section 9.5 Defense of Indemnification Payments by Parent to an NB Group Indemnified Third Party Claims 55 ARTICLE XII MISCELLANEOUS 55 SECTION 12.1. Non-Survival of Representations and Warranties 55 SECTION 12.2. Expenses 55 SECTION 12.3. Injunctive Relief 56 SECTION 12.4. Submission to Jurisdiction; Consent to Service of Process 56 -ii- TABLE OF CONTENTS (continued) Page SECTION 12.5. Section 9.6 Limitations on Indemnity 56 Section 9.7 Exclusive Remedy 58 Section 9.8 Treatment of Indemnification Payments 58 ARTICLE X MISCELLANEOUS 59 Section 10.1 Definitions 59 Section 10.2 Governing Law; Consent to Jurisdiction; Waiver of Right to Trial by Jury 56 SECTION 12.6. 69 Section 10.3 Notices 70 Section 10.4 Interpretation 71 Section 10.5 Headings 71 Section 10.6 Entire Agreement; Amendments and Waivers 56 SECTION 12.7. Governing Law 57 SECTION 12.8. Notices 57 SECTION 12.9. Agreement 71 Section 10.7 Severability 59 SECTION 12.10. 72 Section 10.8 Assignment 72 Section 10.9 Binding Effect; Assignment 59 SECTION 12.11. Treatment Parties of Interest 72 Section 10.10 Mutual Drafting 72 Section 10.11 Amendment 72 Section 10.12 Extension; Waiver 72 Section 10.13 Seller Disclosure Letter 73 Section 10.14 Facsimile Signatures; Counterparts 73 Section 10.15 Fees and Expenses 73 Section 10.16 Governmental Reporting 73 Section 10.17 Waiver of Conflicts Regarding Representation; Non-Assertion of Attorney Client Privilege 73 SELLER DISCLOSURE LETTER Contents of Seller Disclosure Letter Cross Reference in Seller Disclosure Letter Pre-Closing Balance Sheet and Working Capital Calculation Section 2.4 Indebtedness of the Company to be Repaid Section 2.6 Contravention of Material Contracts Section 4.2(b) Financial Statements Section 4.4(a) Other Liabilities of the Company Section 4.4(b) Indebtedness of the Company Section 4.4(c) Certain Changes or Events Section 4.5(b) Capital Expenditure Projects Section 4.5(b)(xi) Transactions with Affiliates and Affiliated Persons Section 4.6 Condition of Assets and Properties Section 4.7(b) Leases of Personal Property Section 4.8 Seller Intellectual Property Used by the Company Section 4.9(a) Legal Proceedings Concerning Intellectual Property Section 4.9(b) Third Party Infringements of Intellectual Property Section 4.9(c) IT and Computer Systems Section 4.9(d) Material Contracts Section 4.10(a) Legal Proceedings Section 4.11 Environmental Matters Section 4.12 Environmental Reports Section 4.12(e) Investigations by Governmental Entities Section 4.13(a) Findings of Suitability and Holding of Licenses by Managers, Officers and Key Employees Section 4.13(b) Employees Section 4.14(b) Company Benefit Plans Section 4.15(a) Actions, Suits or Claims by and Audits of Company Benefit Plans Section 4.15(e) Tax Return Status and Extension Summary Section 4.16(a) Audits of Tax Returns Section 4.16(c) Real Property and the Vessel Section 4.17(a) Real Property Leased by the Company as Administrative Expenses 59 SECTION 12.12. Counterparts 59Lessee Section 4.17(b) Insurance Section 4.18 Exceptions to Prohibited Actions Section 6.2(b) Shared Contracts Section 6.19(a) Building Envelope Conditions and Legal Description Section 10.1 Buyer shall furnish supplementally a copy of the Seller Disclosure Letter to the United States Securities and Exchange Commission upon request.