Commercial Credit Application

Commercial Credit Application
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List The Names Of The Principals Of The Business

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Credit References

1. Bank Accounts

2. Trade References

We require a minimum of three business credit references.
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The undersigned represents that he is the duly qualified officer or agent of the applicant and is duly authorized to
make this application on its behalf.
This application is made for the purpose of inducing Keenan Energy Company, Inc. to extend credit to applicant
on a regular basis for the purchase of goods on account, whether ordered orally or in writing, and applicant agrees to
pay all invoice or statements of account pursuant to the following terms of sale:

  1. The applicant agrees to pay the amount of each invoice received from Keenan Energy Company, Inc. in full
    within thirty (30) days of the invoice.
  2. A “Finance Charge” of one and one-half (1.5%) percent per month (eighteen [18%] per year) will be imposed
    on any balance outstanding and unpaid more than thirty (30) days after the date shown on the invoice.
  3. Should the applicant fail to make payment or should any other default occur the applicant agrees to pay all
    costs associated with the collection of the outstanding balance, including reasonable attorney’s fees of not less than
    thirty (30%) of the outstanding balance.
  4. This account is solely for business or commercial purposes and isn’t intended for personal, consumer or
    household purposes.

GUARANTY OF PAYMENT

Whereas, the undersigned has requested that Keenan Energy Company Inc. or Petroleum Developers, Inc.
extend credit to the applicant named in the attached Credit Application.

Now, for value received and to induce Keenan Energy Company, Inc. to undertake or continue to see goods to
the Applicant, above named, on account , the undersigned, jointly and severally, so hereby unconditionally and
absolutely guarantee payment when due of any and all and present or future indebtedness, including reasonable
attorneys fees and all expenses incurred in collection, owed to Keenan Energy Company, Inc. by the Applicant. The
undersigned expressly waive notice of acceptance of guaranty, presentment, demand, notice of dishonor, protest and
all other notices whatever, and agree that Keenan Energy Company, Inc. may extend or renew the indebtedness for
any period and may grant any releases, compromises or indulgences with respect to said indebtedness or any
extension or renewal thereof or any security therefor or to any party liable thereunder or hereunder, all without
notice to or consent of any of the undersigned and with our affecting the liability of the undersigned hereunder, any
of whom may be sued by Keenan Energy Company, Inc. with or without joining any of the other guarantor and
without first of contemporaneously suing such other persons or otherwise seeking or proceeding to collect from
them.

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Sending

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