Common use of Use of Loans and Letters of Credit Clause in Contracts

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to provide working capital for lease acquisitions, exploration, production operations and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) for general corporate purposes of the Borrower and the Guarantors. The Borrower and the Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to refinance the Existing Credit Agreement and to provide working capital for lease acquisitions, exploration, exploration and production operations and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) provide funding for general corporate purposes of the Borrower and its Subsidiaries, including the Guarantorsacquisition of exploration and production properties and expenditures associated with the conversion of properties to proved developed producing properties and related activities thereto and, subject to the terms thereof, the redemption specified in Section 9.04(a)(iv). The Borrower and the Restricted its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans made or deemed made, and the any Letters of Credit issued, (i) on the Effective Date, shall be used in accordance with the Plan of Reorganization and (ii) thereafter, (a) to provide working capital for lease acquisitions, exploration, exploration and production operations and development (including the drilling and completion of producing xxxxx)operations, (b) to purchase Equity Interestsfinance Capital Expenditures, including margin stock issued capital projects and additional acquisitions, in each case to the extent permitted by Persons that are primarily engaged in the Oil and Gas Business terms of this Agreement and (c) for other lawful general corporate purposes of purposes. The Parent, the Borrower and the Guarantors. The Borrower and the Restricted Subsidiaries each of their respective subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used to (a) to pay fees and expenses associated with the Transactions and (b) provide working capital for lease acquisitions, explorationfor exploration and production operations, production operations and for development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the for acquisitions of Oil and Gas Business Properties permitted hereunder and (c) for other general corporate purposes of the Borrower Borrower, its Subsidiaries and the Guarantorsother Permitted L/C Parties. The Borrower and the Restricted Subsidiaries are not No Group Member or other Permitted L/C Party is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to provide refinance the loans outstanding under the Existing Credit Agreement, to pay fees, commissions and expenses in connection with the transactions contemplated hereby, and to finance ongoing working capital and for lease acquisitions, exploration, production operations and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) for other general corporate purposes of the Borrower and its Restricted Subsidiaries, including the Guarantorsacquisition of exploration and production and midstream properties and to benefit the Unrestricted Subsidiaries as allowed by Section 9.05. The Borrower Loan Parties and the Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to refinance the Existing Credit Agreement and to provide working capital for lease acquisitions, exploration, exploration and production operations and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) provide funding for general corporate purposes of the Borrower and its Restricted Subsidiaries, including the Guarantorsacquisition of exploration and production properties and expenditures associated with the conversion of properties to proved developed producing properties and related activities thereto and, subject to the terms thereof, the redemption specified in Section 9.04(b). The Borrower and the its Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to repay Debt under the Existing Credit Agreement and (b) to provide working capital for lease acquisitions, exploration, exploration and production operations and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) for general corporate purposes of the Borrower and its Subsidiaries; provided that none of the GuarantorsAdministrative Agent, the Issuing Bank nor any Lender shall have any responsibility to monitor or verify the application by the Borrower of any amounts borrowed pursuant to this Agreement. The Borrower Parent and the Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Tranche A Loans and the Letters of Credit shall be used (a) to provide working capital for lease acquisitionsexploration and production operations, explorationto refinance existing Debt of the Borrower, production operations and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) provide funding for general corporate purposes of the Borrower and its Subsidiaries, including the Guarantorsacquisition of exploration and production properties. The proceeds of the Tranche B Loans shall be used for exploration and development activities related to existing Oil and Gas Properties that are not classified as proved developed producing. The Borrower and the Restricted its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether 57 immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used to (ai) to provide refinance Debt existing under the 2014 Credit Agreement, (ii) pay fees, commissions and expenses in connection with the refinancing of the Debt existing under the 2014 Credit Agreement, or (iii) finance ongoing working capital for lease acquisitions, exploration, production operations requirements and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) for other general corporate purposes of the Borrower and the Guarantorsits Subsidiaries (including funding Restricted Payments permitted under this Agreement) and to support obligations of any Loan Party. The Borrower and the Restricted its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to provide working capital for lease acquisitions, exploration, production operations acquire Oil and development Gas Properties or interests therein (including pursuant to the drilling and completion of producing xxxxxMerger or any other Permitted Acquisition), (b) to purchase Equity Interestspay certain transaction expenses incurred in connection therewith (including the Transaction Expenses), including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) to provide working capital, including for exploration and production operations, and (d) to provide funding for general corporate purposes of the Borrower and the Guarantorsits Subsidiaries. The Borrower and the its Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to provide working capital for lease acquisitions, exploration, production operations and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) for general corporate purposes of the Borrower and its Subsidiaries, and (b) for any distribution advances of Available Cash, provided that if the GuarantorsBorrowing Base Utilization Percentage is equal to or exceeds 90% before or after giving effect to the requested Loan or Letter of Credit, then no proceeds of any Loan or any Letter of Credit may be used to fund Restricted Payments under Section 9.04. The Borrower and the Restricted its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Revolving Loans and the Letters of Credit shall be used (a) to repay Debt under the Existing Credit Agreement and (b) to provide working capital for lease acquisitions, exploration, exploration and production operations and development (including the drilling and completion of producing xxxxx), (b) to purchase Equity Interests, including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) for general corporate purposes of the Borrower and its Subsidiaries; provided that none of the GuarantorsAdministrative Agent, the Issuing Bank nor any Lender shall have any responsibility to monitor or verify the application by the Borrower of any amounts borrowed pursuant to this Agreement. The Borrower Parent and the Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to provide working capital for lease acquisitions, exploration, production operations and development (including the drilling and completion of producing xxxxx)capital, (b) to purchase Equity Interestsrefinance existing indebtedness (including the Existing Credit Agreement), including margin stock issued by Persons that are primarily engaged in the Oil and Gas Business and (c) for the acquisition, exploration and development of oil and gas properties, including the Blacksand Acquisition and the Xxxxxx Xxxxxxx Acquisition, (d) for the issuance of Letters of Credit, and (e) for general corporate purposes of the Borrower and the Guarantorspurposes, including Restricted Payments. The Borrower and the Restricted its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates (a) the provisions of Regulations T, U or X of the Board, (b) U.S. sanctions administered by OFAC or the US Department of State or (c) the FCPA.”