United States Dollars Uses in Subsequent Draws Clause

Subsequent Draws from Funding Agreement

This Pre-Merger Loan and Funding Agreement (hereinafter the "Agreement") is entered into and shall become effective as of February 26, 2015, by and between VICTORY ENERGY CORPORATION, a Nevada corporation ("Victory"), and LUCAS ENERGY, INC., a Nevada corporation ("Lucas"). Victory and Lucas are referred to individually as a "Party" and, collectively, as the "Parties."

Subsequent Draws. If the Initial Draw is less than $2,000,000, Lucas may, in its sole discretion, notify Victory in writing that it desires to draw (each a "Draw") some or all of the remaining balance in amounts and at times that are consistent with the Budget (as defined below). To be valid, any such notification (a "Draw Notification") must (i) be received by Victory before the sooner of (a) the date that the Parties terminate the Letter of Intent or, if the Definitive Agreement is entered into, the date that the Parties terminate the Definitive Agreement such that the Merger will not occur, or (b) the first anniversary of the date hereof and (ii) specify the amount being borrowed (which shall not exceed $2,000,000 minus the Initial Draw and all prior Draws). Within twenty (20) days after Victory's receipt of a Draw Notification (or such other date as Victory and Lucas may mutually agree in writing), Victory and Lucas shall be obligated to complete the specified Draw, so long as there is no existing or reasonably anticipated default by Lucas under this Agreement or any Closing Document (as defined below); provided, however, that notwithstanding the foregoing, Lucas may withdraw a Draw Notification by written notice to Victory that is received at least three (3) days prior to the date that has been mutually agreed to by the Parties to complete the specified Draw. For each Draw, Lucas shall execute an amendment to the Note to add thereto the principal amount of such Draw and Victory shall disburse the amount of the Draw by wire transfer of immediately available funds in United States Dollars to the account specified by Lucas in writing.

Subsequent Draws from Funding Agreement

This Pre-Merger Loan and Funding Agreement (hereinafter the "Agreement") is entered into and shall become effective as of February 26, 2015, by and between VICTORY ENERGY CORPORATION, a Nevada corporation ("Victory"), and LUCAS ENERGY, INC., a Nevada corporation ("Lucas"). Victory and Lucas are referred to individually as a "Party" and, collectively, as the "Parties."

Subsequent Draws. If the Initial Draw is less than $2,000,000, Lucas may, in its sole discretion, notify Victory in writing that it desires to draw (each a "Draw") some or all of the remaining balance in amounts and at times that are consistent with the Budget (as defined below). To be valid, any such notification (a "Draw Notification") must (i) be received by Victory before the sooner of (a) the date that the Parties terminate the Letter of Intent or, if the Definitive Agreement is entered into, the date that the Parties terminate the Definitive Agreement such that the Merger will not occur, or (b) the first anniversary of the date hereof and (ii) specify the amount being borrowed (which shall not exceed $2,000,000 minus the Initial Draw and all prior Draws). Within twenty (20) days after Victory's receipt of a Draw Notification (or such other date as Victory and Lucas may mutually agree in writing), Victory and Lucas shall be obligated to complete the specified Draw, so long as there is no existing or reasonably anticipated default by Lucas under this Agreement or any Closing Document (as defined below); provided, however, that notwithstanding the foregoing, Lucas may withdraw a Draw Notification by written notice to Victory that is received at least three (3) days prior to the date that has been mutually agreed to by the Parties to complete the specified Draw. For each Draw, Lucas shall execute an amendment to the Note to add thereto the principal amount of such Draw and Victory shall disburse the amount of the Draw by wire transfer of immediately available funds in United States Dollars to the account specified by Lucas in writing.

Subsequent Draws from Funding Agreement

This Pre-Merger Loan and Funding Agreement (hereinafter the "Agreement") is entered into and shall become effective as of February 26, 2015, by and between VICTORY ENERGY CORPORATION, a Nevada corporation ("Victory"), and LUCAS ENERGY, INC., a Nevada corporation ("Lucas"). Victory and Lucas are referred to individually as a "Party" and, collectively, as the "Parties."

Subsequent Draws. If the Initial Draw is less than $2,000,000, Lucas may, in its sole discretion, notify Victory in writing that it desires to draw (each a "Draw") some or all of the remaining balance in amounts and at times that are consistent with the Budget (as defined below). To be valid, any such notification (a "Draw Notification") must (i) be received by Victory before the sooner of (a) the date that the Parties terminate the Letter of Intent or, if the Definitive Agreement is entered into, the date that the Parties terminate the Definitive Agreement such that the Merger will not occur, or (b) the first anniversary of the date hereof and (ii) specify the amount being borrowed (which shall not exceed $2,000,000 minus the Initial Draw and all prior Draws). Within twenty (20) days after Victory's receipt of a Draw Notification (or such other date as Victory and Lucas may mutually agree in writing), Victory and Lucas shall be obligated to complete the specified Draw, so long as there is no existing or reasonably anticipated default by Lucas under this Agreement or any Closing Document (as defined below); provided, however, that notwithstanding the foregoing, Lucas may withdraw a Draw Notification by written notice to Victory that is received at least three (3) days prior to the date that has been mutually agreed to by the Parties to complete the specified Draw. For each Draw, Lucas shall execute an amendment to the Note to add thereto the principal amount of such Draw and Victory shall disburse the amount of the Draw by wire transfer of immediately available funds in United States Dollars to the account specified by Lucas in writing.