CONVERTIBLE NOTE SUBSCRIPTION AGREEMENTConvertible Note Subscription Agreement • November 27th, 2024 • Independence Contract Drilling, Inc. • Drilling oil & gas wells
This CONVERTIBLE NOTE SUBSCRIPTION AGREEMENT (this “Agreement”) is entered into on November 25, 2024, by and among Independence Contract Drilling, Inc., a Delaware corporation (the “Issuer”), and each undersigned subscriber (each, a “Subscriber” and collectively, the “Subscribers”). Notwithstanding anything herein to the contrary, the rights and obligations of each Subscriber hereunder shall be several, and not joint, and any covenants, representations or warranties made by any Subscriber hereunder shall be deemed to be made severally and not jointly by each Subscriber hereunder. Capitalized terms not defined herein have the meanings assigned to such terms in that certain Indenture (the “Indenture”) executed as of March 18, 2022 by and among the Issuer, the guarantors party thereto and U.S. Bank, National Association, as third-party trustee and collateral agent (the “Trustee” or “Collateral Agent”);
