FORBEARANCE AGREEMENTForbearance Agreement • November 27th, 2015 • Brushy Resources, Inc. • Crude petroleum & natural gas • Texas
THIS FORBEARANCE AGREEMENT (“Forbearance Agreement”) is entered into as of November 24, 2015 (the “Forbearance Effective Date”), by and among (i) Brushy Resources, Inc. (f/k/a Starboard Resources, Inc.), a Delaware corporation (“Borrower”), (ii) ImPetro Resources, LLC, a Delaware limited liability company (“ImPetro Resources”), (iii) ImPetro Operating, LLC, a Delaware limited liability company (collectively with ImPetro Resources, the “Guarantors” and each a “Guarantor”), and (iv) Independent Bank, a Texas state bank (“Lender”), and is entered into in connection with that certain Credit Agreement dated June 27, 2013 between the Borrower and the Lender (as previously amended, the “Credit Agreement”). Terms defined in the Credit Agreement are used herein with the same meanings unless otherwise defined herein or the context otherwise requires.
THIRD AMENDMENT TO THE FIRST AMENDED AND RESTATED CREDIT AGREEMENTCredit Agreement • November 27th, 2015 • Brushy Resources, Inc. • Crude petroleum & natural gas
This Third Amendment to the First Amended and Restated Credit Agreement (this “Amendment”), dated as of November 24, 2015 (the “Effective Date”) is entered into between SOSVENTURES, LLC, a Delaware limited liability company, as lender (“Lender”) and as administrative agent for the Lenders (in such capacity, the “Administrative Agent”) and BRUSHY RESOURCES, INC, (formerly called STARBOARD RESOURCES, INC,) a Delaware corporation, as borrower (the “Borrower”).
