Common use of Total Net Indebtedness Leverage Ratio Clause in Contracts

Total Net Indebtedness Leverage Ratio. The Borrower will not permit its ratio of Consolidated Total Net Debt as of the last day each fiscal quarter set forth below to EBITDA as of such day to be greater than the ratio set forth opposite such date: Fiscal Quarter Ratio March 31, 2019 5.00: 1.00 June 30, 2019 4.75: 1.00 September 30, 2019 4.50: 1.00 December 31, 2019 4.25: 1.00 Thereafter 4.00: 1.00

Total Net Indebtedness Leverage Ratio. The Borrower will not permit its ratio of Consolidated Total Net Debt Indebtedness as of the last day each fiscal quarter, commencing with the fiscal quarter set forth below ending March 31, 2020, to EBITDA as of EBITDAX for the period ending on such day to be greater than the ratio set forth opposite such date: Fiscal Quarter Ratio March 31, 2019 5.00: 1.00 June 30, 2019 4.75: 1.00 September 30, 2019 4.50: 1.00 December 31, 2019 4.25: 1.00 Thereafter 4.00: 4.00 to 1.00.

Total Net Indebtedness Leverage Ratio. The Borrower will not permit its ratio of Consolidated Total Net Debt as of the last day each fiscal quarter set forth below to EBITDA as of such day to be greater than the ratio set forth opposite such date: Fiscal Quarter Ratio March 31, 2019 5.00: 1.00 June 30, 2019 4.75: 1.00 September 30, 2019 4.502018 4.75: 1.00 1.0 December 31, 2019 2018 4.25: 1.00 1.0 Thereafter 4.00: 1.001.0”

Total Net Indebtedness Leverage Ratio. The Borrower will not not, as of the last day of any fiscal quarter, permit its the ratio of Consolidated Total Net Debt as of the such last day each fiscal quarter set forth below to EBITDA as for the period of four fiscal quarters ending on such last day to be greater than the ratio set forth opposite such date: Fiscal Quarter Ratio March 31, 2019 5.00: 1.00 June 30, 2019 4.75: 1.00 September 30, 2019 4.50: 1.00 December 31, 2019 4.25: 1.00 Thereafter 4.00: 1.00exceed 4.0 to 1.0.

Total Net Indebtedness Leverage Ratio. The Borrower will not not, as of the last day of any fiscal quarter beginning with the fiscal quarter ending June 30, 2018, permit its the ratio of Consolidated Total Net Debt as of the such last day each to EBITDA for the period of four fiscal quarters ending on such last day to exceed (i) for the fiscal quarter set forth below to EBITDA as of such day to be greater than the ratio set forth opposite such date: Fiscal Quarter Ratio March 31, 2019 5.00: 1.00 ending June 30, 2019 4.75: 1.00 September 302018, 2019 4.50: 1.00 December 314.5 to 1.0 and (ii) for any fiscal ending thereafter, 2019 4.25: 1.00 Thereafter 4.00: 1.004.0 to 1.0.”