On January 21, 2016, Eclipse Resources Corporation entered into the First Amendment to Second Amended and Restated Credit Agreement, by and among the company, as borrower, Bank of Montreal, as administrative agent, and each of the lenders party thereto. The Amendment amends the Second Amended and Restated Credit Agreement, dated as of June 11, 2015, by and among the company, the Administrative Agent and each of the lenders party thereto, to, among other things, permit thereunder the Company's previously announced private offer to exchange any and all of the company's outstanding 8.875% Senior Unsecured Notes due 2023 for the company's new 9.00% Senior Secured Second Lien Notes due 2023, the issuance of the Second Lien Notes and the grant of a lien on substantially all of the company's and its subsidiaries' assets in connection therewith. In addition, the Amendment permits the company to voluntarily repurchase a portion of the Existing Notes that are not exchanged into Second Lien Notes, subject to certain conditions, including (i) all such repurchases must occur on or before the effective date with respect to the Company's scheduled borrowing base redetermination date of October 1, 2016, and (ii) the aggregate purchase price paid by the Company in all such repurchases cannot exceed $50.0 million.