shares that any such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total
voting power of the Voting Stock of Pioneer, whether as a result of the issuance of securities of Pioneer, any merger, consolidation, liquidation or dissolution of Pioneer or otherwise; or
(2) the sale, transfer, assignment, lease, conveyance or other disposition, directly or indirectly, of all or
substantially all the assets of Pioneer and its Subsidiaries, considered as a whole (other than a disposition of such assets as an entirety or virtually as an entirety to a wholly-owned subsidiary) shall have occurred, or Pioneer merges,
consolidates or amalgamates with or into any other person or any other person merges, consolidates or amalgamates with or into Pioneer, in any such event pursuant to a transaction in which the outstanding Voting Stock of Pioneer is reclassified into
or exchanged for cash, securities or other property, other than any such transaction where:
the outstanding Voting Stock of Pioneer is reclassified into or exchanged for other Voting Stock of Pioneer or for Voting Stock of the surviving corporation, and
(b) the holders of the Voting Stock of Pioneer immediately prior to such transaction own, directly or
indirectly, not less than a majority of the Voting Stock of Pioneer or the surviving corporation immediately after such transaction and in substantially the same proportion as before the transaction; or
(3) the stockholders of Pioneer shall have approved any plan of liquidation or dissolution of Pioneer.
Change of Control Repurchase Event means, with respect to each series of notes, the occurrence of both a Change of Control
and a Rating Decline with respect such series of notes.
Consolidated Net Worth means, with respect to any person, the
stockholders equity of such person and its Subsidiaries, as determined on a consolidated basis in accordance with generally accepted accounting principles, less (to the extent included in stockholders equity) amounts attributable to
redeemable stock of such person or its Subsidiaries.
Dollar-Denominated Production Payments means production payment
obligations recorded as liabilities in accordance with GAAP, together with all undertakings and obligations in connection therewith.
Government Contract Lien means any Lien required by any contract, statute, regulation or order in order to permit us or any of our
Subsidiaries to perform any contract or subcontract made by us or our Subsidiaries with or at the request of the United States or any State thereof or any department, agency or instrumentality of either or to secure partial, progress, advance or
other payments by us or any of our Subsidiaries to the United States or any State thereof or any department, agency or instrumentality of either pursuant to the provisions of any contract, statute, regulation or order.
Indebtedness means, with respect to any person, at any date, any obligation created or assumed by such person for the repayment of
borrowed money and any guarantee thereof.
Investment Grade means BBB- or higher by
S&P and Baa3 or higher by Moodys, or the equivalent of such ratings by S&P or Moodys, or, if either S&P and Moodys shall not make a rating on a series of notes publicly available, then with respect to such notes,
another Rating Agency.
Lien means any mortgage, pledge, security interest, encumbrance, lien, charge or adverse claim
affecting title or resulting in an encumbrance against real or personal property or a security interest of any kind (including, without limitation, any conditional sale or other title retention agreement or lease in the nature thereof or any filing
or agreement to file a financing statement as debtor under the Uniform Commercial Code or any similar statute other than to reflect ownership by a third party of property leased to us or any of our Subsidiaries under a lease that is not in the
nature of a conditional sale or title retention agreement).