Common use of Total Debt to EBITDAX Clause in Contracts

Total Debt to EBITDAX. The Borrower will not permit, as of the last day of any fiscal quarter commencing with the fiscal quarter ending June 30, 2014, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (A) 4.50 to 1.0 for the fiscal quarter ending June 30, 2014 and for the fiscal quarter ending September 30, 2014 and (B) 4.25 to 1.0 for the fiscal quarter ending December 31, 2014 and for each fiscal quarter ending thereafter.

Total Debt to EBITDAX. The Borrower will not permit, as of the last day of any fiscal quarter commencing with the fiscal quarter ending June 30, 2014, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (A) 4.50 4.75 to 1.0 for the fiscal quarter ending June 30, 2014 and for the fiscal quarter ending September 30, 2014 and 2014, (B) 4.25 4.50 to 1.0 for the fiscal quarter ending December 31, 2014 and (C) 4.25 to 1.0 for the fiscal quarter ending March 31, 2015 and for each fiscal quarter ending thereafter.

Total Debt to EBITDAX. The Borrower will not permit, as of the last day of any fiscal quarter commencing with the fiscal quarter ending June 30, 2014quarter, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (A) 4.50 4.5 to 1.0 for commencing with the fiscal quarter ending June 30, 2014 and for 2011 through the fiscal quarter ending September 30, 2014 and 2011, (B) 4.25 to 1.0 for the fiscal quarter ending December 31, 2014 2011 and (C) 4.0 to 1.0 commencing with the fiscal quarter ending March 31, 2012 and for each fiscal quarter ending thereafter.”

Total Debt to EBITDAX. The Borrower will not permit, as of the last day of any fiscal quarter commencing with the fiscal quarter ending June 30, 2014quarter, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (A) 4.50 5.25 to 1.0 for 1.00 commencing with the fiscal quarter ending June 30, 2014 and for 2011 through the fiscal quarter ending September 30, 2014 and 2011, (B) 4.25 5.00 to 1.0 1.00 for the fiscal quarter ending December 31, 2014 2011 and (C) 4.75 to 1.00 commencing with the fiscal quarter ending March 31, 2012 and for each fiscal quarter ending thereafter.”

Total Debt to EBITDAX. The Commencing with the fiscal quarter ending March 31, 2010, the Borrower will not permit, as of the last day of any fiscal quarter commencing with the fiscal quarter ending June 30, 2014quarter, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date (excluding the Hall Houston Debt as of such date) to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (A) 4.50 4.5 to 1.0 for commencing with the fiscal quarter ending June 30March 31, 2014 and for 2010 through the fiscal quarter ending ended September 30, 2014 2010, and (B) 4.25 4.0 to 1.0 for commencing with the fiscal quarter ending ended December 31, 2014 2010 and for each fiscal quarter ending thereafter.”