SECURITY AGREEMENTSecurity Agreement • March 31st, 2017 • Carbon Natural Gas Co • Crude petroleum & natural gas • Texas
THIS SECURITY AGREEMENT (this agreement, together with all amendments and restatements and Joinders, this "Agreement"), dated as of October 3, 2016, is made by CARBON NATURAL GAS COMPANY, a Delaware corporation ("Borrower"), NYTIS EXPLORATION COMPANY LLC, a Delaware limited liability company, NYTIS EXPLORATION (USA) INC., a Delaware corporation, each of the other signatories party hereto and each other Person who becomes a party hereto pursuant to Section 6.15 (together with Borrower and including any permitted successors and assigns, collectively, the "Debtors" and each a "Debtor"), in favor of LEGACYTEXAS BANK, as administrative agent for the benefit of each of the Secured Parties (in such capacity, "Administrative Agent").
UNCONDITIONAL GUARANTYUnconditional Guaranty • March 31st, 2017 • Carbon Natural Gas Co • Crude petroleum & natural gas • Texas
THIS UNCONDITIONAL GUARANTY (this "Guaranty") dated as of October 3, 2016, is made by NYTIS EXPLORATION COMPANY LLC, a Delaware limited liability company, NYTIS EXPLORATION (USA) INC., a Delaware corporation, each a Subsidiary of CARBON NATURAL GAS COMPANY, a Delaware corporation ("Borrower"), whether as an original signatory hereto or as an Additional Guarantor (together with each such Person's permitted successors and permitted assigns, collectively, "Guarantors" and each individually, a "Guarantor"), in favor of LEGACYTEXAS BANK, as administrative agent for the benefit of the Guaranteed Parties, as defined herein (in such capacity, "Administrative Agent"), and is executed and delivered pursuant to that certain Credit Agreement dated as of the date hereof (as the same may be amended, restated or modified from time to time, the "Credit Agreement") among Administrative Agent, the financial institutions party thereto (the "Lenders") and Borrower.
