Common use of Ratio of Total Debt to EBITDAX Clause in Contracts

Ratio of Total Debt to EBITDAX. The Parent will not permit, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2021, the ratio of (A) Total Debt as of such day to (B) EBITDAX for the period of four fiscal quarters ending on such day (the “Leverage Ratio”) to be greater than 3.00 to 1.00.

Ratio of Total Debt to EBITDAX. The Parent and the Borrower will not permitnot, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30December 31, 20212019, permit the ratio of (i) (A) Total Debt as minus the lesser of (B) (I) unrestricted Cash Equivalents of the Loan Parties on such day that are subject to a perfected Lien in favor of the Administrative Agent and (II) $20,000,000 to (Bii) EBITDAX for the period of four fiscal quarters ending on such day (the “Leverage Ratio”) to be greater than 3.00 3.50 to 1.001.0.

Ratio of Total Debt to EBITDAX. The Parent Parent, OP LLC and the Borrower will not permitnot, as of the last day of any fiscal quarter, quarter commencing with the first full fiscal quarter ending September 30after the Trigger Date, 2021, permit the ratio of (A) Total Debt as of such day time to (B) Annualized EBITDAX for the period of four fiscal quarters ending on such day (the “Leverage Ratio”) to be greater than 3.00 (i) 4.25 to 1.001.0 for the first two full fiscal quarters ending after the Trigger Date and (ii) 4.00 to 1.00 for each fiscal quarter thereafter.

Ratio of Total Debt to EBITDAX. The Parent will not permit, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2021, the ratio of (A) Total Debt as of such day to (B) EBITDAX for the period of four fiscal quarters ending on such day (the “Leverage Ratio”) to be greater than the ratio set forth in the table below for such last day of a fiscal quarter: From September 30, 2021 to and including March 31, 2023 3.00 to 1.00 June 30, 2023 and thereafter 2.75 to 1.00.

Ratio of Total Debt to EBITDAX. The Parent will not permitnot, as of the last day of at any fiscal quartertime, commencing with the fiscal quarter ending September 30, 2021, permit the ratio of (A) Total Debt as of such day time to (B) EBITDAX for the period of four fiscal quarters ending on such the last day (of the “Leverage Ratio”) fiscal quarter immediately preceding the date of determination for which financial statements have been delivered to the Administrative Agent hereunder to be greater than 3.00 to 1.001.0.

Ratio of Total Debt to EBITDAX. The Parent and the Borrower will not permitnot, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September June 30, 20212018, permit the ratio of (A) Total Debt as of on such day to (B) EBITDAX for the period of four fiscal quarters ending on such day (the “Leverage Ratio”) to be greater than 3.00 4.0 to 1.001.0.

Ratio of Total Debt to EBITDAX. The Parent Guarantor will not permitnot, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2021, the permit its ratio of (A) Total Debt as of such day date to (B) EBITDAX for the period of four fiscal quarters ending on such day (the “Leverage Ratio”) date to be greater than 3.00 the following: September 30, 2010 and prior 4.5 to 1.00.1.0 December 31, 2010 to June 30, 2011 4.25 to 1.0 September 30, 2011 and thereafter 4.0 to 1.0

Ratio of Total Debt to EBITDAX. The Parent and the Borrower will not permitnot, as of the last day of any fiscal quarterFiscal Quarter, commencing with the fiscal quarter ending September 30December 31, 20212017, permit the ratio of (A) Total Debt of Parent and its Consolidated Subsidiaries as of such day to (B) EBITDAX of Parent and its Consolidated Subsidiaries for the period of four fiscal quarters Fiscal Quarters ending on such day (the “Leverage Ratio”) to be greater than 3.00 4.00 to 1.00.

Ratio of Total Debt to EBITDAX. The Parent Guarantor will not permitnot, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2021, the permit its ratio of (A) Total Debt as of such day date to (B) EBITDAX for the period of four fiscal quarters ending on such day (the “Leverage Ratio”) date to be greater than 3.00 4.0 to 1.001.0.

Ratio of Total Debt to EBITDAX. The Parent and the Borrower will not permitnot, as of the last day of any fiscal quarter, commencing with first full quarter following the fiscal quarter ending September 30Effective Date, 2021, permit the ratio of (Ai)(A) Total Debt as minus the lesser of (B)(I) unrestricted Cash Equivalents of the Loan Parties on such day that are subject to a perfected Lien in favor of the Administrative Agent and (II) $10,000,000 to (Bii) EBITDAX for the period of four fiscal quarters ending on such day (the “Leverage Ratio”) to be greater than 3.00 3.50 to 1.00.

Ratio of Total Debt to EBITDAX. The Parent will not permitnot, as of the last day of at any fiscal quartertime, commencing with the fiscal quarter ending September 30, 2021, permit the ratio of (A) Total Debt as of such day time to (B) EBITDAX for the period of four fiscal quarters ending on such the last day (of the “Leverage Ratio”) fiscal quarter immediately preceding the date of determination for which financial statements have been delivered to the Administrative Agent hereunder to be greater than 3.00 2.75 to 1.001.0.

Ratio of Total Debt to EBITDAX. The Parent Parent, OP LLC and the Borrower will not permitnot, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30permit, 2021at any date of determination, the ratio of (A) Total Debt as of such day date to (B) EBITDAX for the period of four fiscal quarters quarter period ending on such day date (the “Leverage Ratio”) to be greater than 3.00 4.00 to 1.00.”