Summary – The Offering Clause Samples

Summary – The Offering. On page 15 of the Preliminary Memorandum, the second paragraph under the caption “Ranking” is hereby replaced in its entirety with the following: “As of March 31, 2014, on a pro forma basis after giving effect to this offering, the application of the net proceeds from this offering as described herein, and the other transactions described under “—Recent Developments,” the MRD Segment would have had approximately $634.4 million of total indebtedness, approximately $34.4 million of which would be secured indebtedness under our senior secured revolving credit facility to which the notes would be effectively subordinated (to the extent of the value of the assets securing such indebtedness), and we would have had approximately $634.1 million of additional borrowing capacity available after taking into account an anticipated reduction in the borrowing base in connection with this offering, subject to compliance with financial covenants, for additional secured borrowings which would be effectively senior to the notes. In connection with the issuance of the notes, we expect the borrowing base under our senior secured revolving credit facility to be automatically decreased by approximately $56.5 million.”