Equity Distribution Agreement (Common Units and Series A Preferred Units)Equity Distribution Agreement • November 26th, 2013 • Vanguard Natural Resources, LLC • Crude petroleum & natural gas • New York
Vanguard Natural Resources, LLC, a Delaware limited liability company (the “Company”), confirms its agreement (this “Agreement”) with Credit Suisse Securities (USA) LLC, UBS Securities LLC, BMO Capital Markets Corp. and MLV & Co. LLC (each a “Manager” and collectively, the “Managers”), with respect to the issuance and sale from time to time by the Company, in the manner and subject to the terms and conditions described below, of a combination of or either: (1) up to an aggregate number of common units representing limited liability company interests in the Company (the “Common Units”) having an aggregate Gross Sales Price (as defined in Section 3(b) herein) of $500,000,000 (the “Maximum Number of Common Units”) or (2) up to an aggregate number of 7⅞% Series A Cumulative Redeemable Perpetual Series A Preferred Units (the “Series A Preferred Units”) having an aggregate Gross Sales Price (as defined in Section 3(b) herein) of $250,000,000 (the “Maximum Number of Series A Preferred Units”)
