RESTRUCTURING SUPPORT AGREEMENTRestructuring Support Agreement • July 16th, 2020 • California Resources Corp • Crude petroleum & natural gas • New York
This RESTRUCTURING SUPPORT AGREEMENT (including all exhibits, annexes, and schedules attached to this agreement in accordance with Section 14.02, this “Agreement”) is made and entered into as of July 15, 2020 (the “Execution Date”), by and among the following parties (each of the following described in sub-clauses (i) through (iv) of this preamble, collectively, the “Parties”):
SETTLEMENT AND ASSUMPTION AGREEMENTSettlement and Assumption Agreement • July 16th, 2020 • California Resources Corp • Crude petroleum & natural gas • New York
This SETTLEMENT AND ASSUMPTION AGREEMENT (this “Agreement”), dated as of July 15, 2020, is entered into by and among (i) California Resources Corporation (“CRC”), (ii) California Resources Elk Hills, LLC (“CREH”), (iii) Elk Hills Power, LLC (“Elk Hills Power”), (iv) ECR Corporate Holdings GP LLC, ECR I, L.P., SSF IV Energy I AIV 1, L.P., SSF IV Energy I AIV 2, L.P. and AEOF ECR Holdings, L.P. (collectively, “Ares”), and (v) ECR Corporate Holdings L.P., a portfolio company of Ares (“ECR” and, together with Ares and its affiliates that directly or indirectly own equity interests in Elk Hills Power, the “Ares Entities”). CRC, CREH, Elk Hills Power, Ares and ECR are each referred to in this Agreement as a “Party” and collectively, the “Parties.”
