Common use of Senior Note Clause in Contracts

Senior Note. Claims Each holder of an allowed Senior Note Claim shall receive (a) its pro rata share of 97% of the ownership interests in reorganized VNR Finance Corp. (the “New Equity Interests”), subject to dilution by the Senior Note Rights Offering, 2L Investment, the GUC Rights Offering, distributions from the GUC Equity Pool, the Backstop Fee, New Equity Interests issuable upon exercise of the new warrants by Preferred Equity and Common Equity (the “Warrant Equity”), the Management Incentive Plan, and New Equity Interests issued to Encana, as set forth herein (following dilution by the Senior Note Rights Offering, the 2L Investment, GUC Equity Pool (assuming that the GUC Equity Pool is fully utilized) and Backstop Fee (but prior to dilution by the GUC Rights Offering, Warrant Equity, the New Equity Interests issued to Encana, and the Management Incentive Plan) such interests will equal 3.4% of the New Equity Interests) and (b) the opportunity to participate in the Senior Note Rights Offering.

Senior Note. Claims Each holder of an allowed Senior Note Claim shall receive (a) its pro rata share of 97% of the ownership interests in reorganized VNR Finance Corp. (the “New Equity Interests”), subject to dilution by the Senior Note Rights Offering, 2L Investment, the GUC Rights Offering, distributions from the GUC Equity Pool, the Backstop Fee, New andNew Equity Interests issuable upon exercise of the new warrants by Preferred Equity and Common Equity (the “Warrant Equity”), the Management Incentive Plan, and New Equity Interests issued to Encana, as set forth herein (following dilution by the Senior Note Rights Offering, the 2L Investment, GUC Equity Pool (assuming that the GUC Equity Pool is fully utilized) and Backstop Fee (but prior to dilution by the GUC Rights Offering, Warrant Equity, the New Equity Interests issued to Encana, and the Management Incentive Plan) such interests will equal 3.434.73.4% of the New Equity Interests) and (b) the opportunity to participate in the Senior Note Rights Offering.